7. Print Media Flashcards
What are the characteristic features of print media as a “dual product”?
The newspaper content is created to the readers and access to the readers is sold to advertisers
Describe the demographic background of newspaper reading
Up-market/quality titles target wealthier segments, with revenue primarily from ads, and mass-market/popular titles, with mass circulation and revenue mainly from sales
Why is the first copy relatively expensive?
Due to fixed costs like editorial and administration (subsequent copies can be made at lower variable costs)
How did the costs of physical production change during the past decades?
Computer technology and changes in the printing press reduced the need for extensive labor costs in newspaper production
What are the main differences between US and UK markets?
The US market mainly consumes regional dailies, while in the UK national newspapers dominate the market, generating more income, and engaging in more competitive and sensationalist products (due to being a larger market)
What are the most typical competitive tools of the market?
Acquiring rival newspapers, launching new newspapers, product and price changes, price reduction, changes in design or layout
Give a short description of the price war in the UK
In 1993, The Times initiated a significant price reduction strategy, leading to increased circulation and reduced sales for competitors
What are the main differences between newspapers and magazines as products and market segments?
Magazines have been growing while newspapers decline. Profits are higher for magazines, they focus on international markets, the content is not constrained by locality, they don’t have the same cultural and political responsibilities as newspapers
What might be the future of magazines?
It might involve further engagement in cross-media production and continuous innovation and adaptation of business models to new trends and media formats
