10. Marketing of Media and Information

The marketing of media products and services differs 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 the promotion of the media outlet to advertisers. The author discusses the role of marketing in 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 author then looks at advertising, specifically optimal budgets and the mix of media choices. Critical to success is promotion to advertisers, retailers, and distributors, all of which have their own techniques. These marketing activities have been impacted by the Internet with its new tools and approaches. The author then analyzes the promotion of media products—film, TV channels, music, books, newspapers, magazines, videogames, and technology. Next discussed is the regulation of marketing. The author concludes by investigating marketing performance tools. The issues are highlighted by a case discussion on the marketing efforts for a planned magazine by Condé Nast.