Marketing of Media and Information
The marketing of media products and services differ from the marketing of other products in a variety of ways, in particular because it is often two-sided: it requires the promotion of media products to end users and for the promotion of the media outlet to advertisers. The authors discuss the role of marketing in the product design. The analysis of positioning requires demand and audience studies, diffusion models, competitor analysis, and branding. Several dimensions of promotion are then discussed: timing; word of mouth; publicity and public relations; and product placement. The authors then look at advertising: optimal budgets and the mix of media choices. Critical to success is promotion to advertisers, retailers, and distributors, all with their own techniques. These marketing activities have been impacted by the Internet with its new tools and approaches. The authors then analyze the promotion of media products—film, TV channels, music, books, newspapers, magazines, videogames, and technology. Next discussed is the regulation of marketing. The authors conclude by investigating marketing performance tools. The issues are highlighted by a case discussion on the marketing efforts for a planned magazine by Condé Nast.