Audience Expectation – Refers to what the audience expects or looks forward to. These have changed considerably over the years as audiences have become more demanding.
Brand Awareness – This refers to the knowledge the audience has of the product and the company that makes it. Companies always want the audience to have a large amount of brand awareness
Circulation – Refers to the number of products sold, normally per month
Consumption – Refers to the audiences actually buying and using (reading) the product
Convergence – Technological Convergence is when technologies develop and come together (eg: print and internet.) Eg you can view magazines online on your phone now, you can create your own video on your computer, you can download apps for everything etc
Cross Promotion – Is the use of other magazines or sites to promote one magazine. For example Hearst place adverts for Cosmopolitan Magazine in Company magazine which they also own.
Demographic – Refers to the type of person that consumes a media product. For example, “the demographic for Cosmopolitan magazine is ABC1 women aged 18-35”.
Distribution – Refers to anything a company does to get a product from the producers to the audience. This often includes things like delivering the product to shops, but can also include marketing and advertising the product.
EDP – Electronic Data Processing is a technology developed by COMAG (co-owned by Hearst UK and Conde Nast) which allows market research to be carried out every time someone purchases a Hearst Magazine. They can monitor the type of reader buying the magazine, as well as what other items the reader purchased at the same time
Horizontal Integration – When a company produces lots of similar products. For example: “Hearst UK is able to take advantage of horizontal integration as they produce 20 magazines within the UK and Hearst International produce 200 worldwide which allows them to recycle articles and photographs, and cross promote their magazines within each other to increase readership.” It can also be seen as Horizontal Integration that Hearst UK has more than one Cosmo related product (eg magazine, website, phone app, social networking site etc). Companies LOVE horizontal integration as it mainly means they can save money and increase profit. Hearst UK clearly wanted to increase their use of horizontal integration because in 2007 they bid £700 million in an attempt to buy and take over EMAP which was another company in the oligopoly. EMAP turned down the bid and instead sold to Bauer for £1.4 billion!
Instant Gratification – Refers to a need people have to be pleased / entertained / satisfied as quickly as possible. So audiences need “instant gratification” otherwise they get frustrated, annoyed, bored etc.
Institution – another word for “company”. So Hearst UK is an institution
Marketing – Refers to anything a company does to promote or advertise their products. This could include posters, TV ads, product placement, setting up Facebook groups etc..
Oligopoly – An Oligopoly is where several companies have grown larger and larger whilst competing, to the point where they have relatively equal power and they dominate the market, making it virtually impossible for smaller companies to exist.
Synergy – Is the use of other technological media platforms to promote a product. For example Hearst use the internet, mobile phones, social networking to promote Cosmopolitan magazine.
User Generated Content – Refers to any material that was produced by the audience, not the professionals. For example, videos on You Tube are made by real people, readers send in their own photos to the magazine etc
Uses & Gratifications Theory – a theory which tries to explain how audiences have different needs and if a company wants to be successful, they should try and “gratify” or fulfil those needs. The 5 main things this theory suggests audiences want are entertainment, education, escape, social interaction and something to identify with
Utopian Solutions Theory – a theory which suggests that audiences have lots of problems and that if a company wants to be successful, they need to provide solutions to people’s problems. Boredom can be solved by entertainment, confusion can be solved by clarity, isolation can be solved by offering people a community and loneliness can be solved by offering people social interaction.
Vertical Integration – When a company can fulfil more than one stage of the production process themselves. So “Hearst UK doesn’t just produce the magazine and employ others for research / distribution / marketing. They do research themselves (and using COMAG) through Facebook and emails, Comag (part owned by Hearst UK remember) do research using EDP, Comag do the distribution and Hearst UK do the marketing using emails / texts / social networking etc.”
No comments:
Post a Comment