MARKETING PRINCIPLES FOR MEDIA BUSINESSES: INTRO

JN2702

Background: Module outline Designed to introduce and provide an

overview to an increasingly “fragmented” media marketplace

To provide an outline of what marketing is: generally and specifically within media

To understand and analyse concepts such as market segmentation and demographics

To consider branding and advertising both within a media platform and on behalf of a platform

To work with an organisation to establish an industry-focus and approach

To begin to establish the effectiveness of marketing for an organisation within an online environment

Combine theory and case studies to provide insights into media and media marketing practices

SECTION ONE: THEMES AND CONCEPTS

Market forces: a complex pictureWhat is a ‘fragmented media

landscape’?

Offline Traditional platforms offer a compelling

platform for readers and advertisers: spanning print, broadcast and radio

Niche products offer access to key demographics and interest areas

Broadcast Digital proliferation has created a high-

level of market segmentation and specialisation

Online broadcasting offers a high-level of user-data and opportunities to re-monetize ‘chunked’ media

Online Multinationals, nationals, regionals,

hyperlocals and bloggers compete for market attention

Independent platforms aid cross-communication and interaction (Facebook, LinkedIn, Twitter, Google+)

Search engines provide a level of information control and gateway function

“Over half (53%) of UK adults are now media multi-tasking while watching TV on a weekly basis. Watching other content on a different device is one of these activities. 

A quarter (25%) are regularly ‘media meshing’ - doing something else but related to what they’re watching on TV. Examples of media meshing include talking on the phone (16%) or texting (17%) about what they’re watching, using social networks (11%) or ‘apps’ to communicate directly with programmes (3%). Younger people are most likely to use other media while watching TV (74%) with 44% media meshing.” 

Ofcom Market Communications Market Report 2013

STOP! Media Theory

Mark Deuze: We live in Media

Media are to us as water is to fish. This does not mean life is determined by media - it just suggests that whether we like it or not, every aspect of our lives takes place in media, and that our engagement with media in many ways contributes to our chances of survival.

Manuel Castells: “Real Virtualities”

“Real virtuality is a system in which reality itself (that is people’s material/symbolic existence) is entirely captured, fully immersed in a virtual image setting, in the world of make believe, in which appearances are not just on the screen through which experience is communicated, but they become the experience.”

Multiplatform impact: Key Module questions

How do publishers exist in a multiplatform world?

What do we mean by a converged media landscape?

What impact does this have on traditional and new publishers? And how do they manage this impact?

What requirements are placed on marketers within this fragmented multiplatform world and what challenges do they face?

How has advertising shifted within the Media, and how do marketers identify the ‘value’ of advertising?

Importance of marketing and ad revenue

Media orgs using marketing to increase market share and resulting ad revenue/readership/influence

What alternative forms can advertising take (within and for) a media organisation?

How has the current digital landscape impacted on ad revenue flows?

How to publishers compete in an online world?

History and now: Digital disruption

Distribution of ad-revenue

Analogue opportunities Amid a powerful digital ad

world, consider advantages of analogue and offline publishing opportunities, and how that might impact on marketing

Global markets offer a diverse ad landscape – print can be popular in some marketplaces

Consider the ‘affordances’ of paper output

TV, niche and mass audience penetration

Print media continued to thrive in less-developed media markets such as India and China.

”Newspapers are actually growing in a lot of the faster-growing regions. The global picture is not quite as uniformly gloomy as it appears to be in developed markets.”

Jerry Buhlmann, Aegis chief executive

Final thought: constant disruption

Marketplaces, particularly those within the media industry, are going through a rapid period of transition. This module will seek to equip marketers with the skills to read and navigate a marketplace that is constantly in flux.

Economist Joseph Schumpeter outlined the economic concept of ‘creative destruction’ – that technological advances will prompt market failure, which will in turn breed innovation

Media marketers currently operating are doing so as the process of market failure is occurring: the shift from monolithic media channels to what, potentially, could be seen to be a more diverse and pluralistic landscape

SECTION TWO: AREAS FOR INVESTIGATION

What is marketing? Basic definitions and case

studies How do we define marketing

and the process behind it?

What analysis is required to construct a marketing plan?

4Ps or 7Ps – lots of p’s

What challenges to do marketers face, and how can they overcome them?

What is market segmentation and how does it impact on marketing strategy?

Marketing for Media orgs

We’re going to look at a cradle to grave approach:

Consider what role marketing plays within a media organisation

Establish a a media organisation’s ‘assets’ and how best to harness them

Strategise: establish key market demographic(s) and how media tools (and editorial content) could be harnessed to maximise take-up from that market

What is advertising?

Define the differences between ‘advertising’ and ‘marketing’

Examine the impact the changing ad market in relation to Media organisations in 2 central ways

How ad spend impacts on media orgs

How media orgs create, construct and communicate brands

Multi-platform analytics drive advertiser insights into the connected consumer’s behaviour, expectations and buying intentions

Advertisers, which absolutely must keep pace with the irresistible consumer shift towards ‘my media’ and digital consumption behaviours, will increasingly harness big data to understand, target and engage consumers at an ever-more-personal level.

This will require that they generate and apply multi-platform analytics-driven insights into connected consumers’ behaviour, expectations and buying intentions while they use new measurement techniques to ensure relevance and demonstrate returns on ad spend.

PriceWatehouseCoopers Global Entertainment and Media Outlook: 2013-2017

Media example: Guardian’s Three little pigs

STOP! Theory: Key constructs

The power of the crowd: Shirky, Gilmore

Companies harness and engage with the power of the crowd: Jarvis, Meerman, Tapscott

Audience interaction, networks and power dynamics: Jarvis, van Dijk

The ‘long tail’ value opportunity: Anderson

Creative destruction and market renewal: Doyle

The assessments

The essay (2,000 words) DEADLINE March 28th 2014 at 5pm

"Social Media has radically changed the publishing industry and

the role of the 'audience'. The marketing and advertising playing field has changed irrevocably. Analyse and discuss.”

The portfolio (3,000 words) DEADLINE May 2nd 2014 at 5pm

Produce a marketing plan for a media organisation of your choice; analysing a range of tools and approaches to produce an effective social marketing campaign that can be placed alongside traditional marketing strategies.

Portfolio: step-by-step

Identify a media organisation that could act as a ‘subject’, for you to complete a marketing strategy with.

Interview them and establish key areas of what they do, what their USP is (or what it could be).

Analyse their target market and demographic.

Establish an overarching social marketing strategy in response to the above.

Articulate how you would achieve this strategy, what tools you would use and why. Establish what your key targets would be and how you would monitor the success of the strategy.

Next week’s reading

Here Comes Everyone – Clay Shirky Understanding Media Economics –

Doyle

Seminar: Initial talks

How do you encounter a ‘fragmented media landscape’

Seminar: Branding What are the most powerful brands

that you encounter and why?

Seminar

Advertising: how do you engage with it?

Seminar: Outside

Spend around 30 minutes walking around campus and taking pictures of physical brands and ads that you encounter – these could include any physical presentation of a brand, in any location

Between now and next week, combine this physical activity with

Come back next week with a ‘quick fire’ presentation (3 minutes max) on 3 brands you encountered and why you feel they are successful, popular, commercially sound

Flickr credits Byronv2 Retro robots 02  jam_232 Jigsaw quilt  Juhansonin Eric surrounded by his sketches  Jason A. Howie Instagram and other social media apps  Yahoo Inc OK, what's the deal   Ykanazawa1999 Keikyu 600 Series Train and Unused Platform No.5 at the South End of Keikyu-kamata

Station  @Doug88888 Money Queen  sdobie Analogue Yearbook 1979  ashley rose you are original and creative  minifig Minifig Characters

#5: Sherlock Holmes and Dr. Watson  HubSpot Social Media Marketing Madness Cartoon by HubSpot  Travel Aficionado Newspaper Front Pages  JoeInSouthernCA Retro Facebook Advert

SeeMidTN.com (aka Brent) 7UP Retro: 80's