The Social Role of Magazines - Essay Example

?Essay Question: “The social role of magazines is as uncertain as their commercial basis” While majority of the paper media industry has been faced with the challenges in updating their business models, there have been concerns with the magazine industry as well. This form of printed media has lost considerable ad revenue with which publishers have directed efforts towards retaining their readers (PPA, 2008). While some have given up and completely shut down, other magazines, especially less recognized ones, have utilized a number of unique strategies to offer their readers with an agreeable reason to buy instead of attempting to force them to purchase the magazines. Over the years, there have been reports of increasing demands among customers regarding a certain extent of control and influence over their media experiences as the media and technology industries have compelled them to do so. At present, digital formats can enable readers to easily navigate and establish interactions with the magazine content. Publishers have increased their ability in retaining the design conformity of a typical print magazine and, at the same, integrate the dimension of interactivity which attracts readers and generates a more engaging and dynamic experience (Machin and Thornborrow, 2003). In addition, the engagement of advertisements can also be enhanced owing to this digital resolution. However, there is still an increasing concern as to how magazines can retain their readers, establish and sustain effective brands, and increase profitability. Therefore, a number of factors must be emphasized, including brand awareness as well as the engagement of customers and their intentions to purchase. This paper will then focus on how readers relate to the magazine as a brand and how this process can influence their recall of the brand along with their intentions of purchasing such publications. Opportunities from the use of the new media have been recognized; if publishing will strongly depend on effective content delivery, consequently, the conventional print format will experience considerable threat. Retail wastage along with excessive reliance on distribution through newsstands has been associated with such format in the United States and in a number of European countries (Al-Olayan and Karande, 2000). On the other hand, the new delivery of media content has offered publishers and companies various opportunities; for instance, it helps reduce waste similar to the advantages of subscriptions, and provides real time interactivity between the readers and content. Such immediate interaction with these readers often entails a considerable culture change which brand owners and manufacturers should effectively carry out to retain their readers. Finally, online publishers increase their ability in become a search engine with which a magazine site can help direct their readers to the source of information which they are seeking, implying that their magazine fits the readers’ lifestyle. Owing to the fact the online market has continued to present increased choices, one of the most crucial actors for success when using the new media is brand image (Vargo and Lusch, 2004). Many publishers have recognized that the branding concept is a solution to the threats of the new media. On the whole, the customers’ awareness of a certain product, also characterized as their ability to think back to it, has typically been viewed as a crucial factor that determines their choice of purchase. However, others have underestimated the advantages that branding can provide by overlooking the usage of new media or considering such as a non-profit platform, similar to the free supply of magazines during events. The fact that numerous publishers have been offering their magazine content for free through the Internet can bring about risks for these firms. As branding has been increasingly deemed as an important component for magazine publishers, this emphasizes the traditional role of these publications in the society, which is to bring together individuals who share common interests. Therefore, there is an emphasis on the need to leverage a magazine brand as well as its core competence. Moreover, the role of business publishers in drawing together buyers and sellers in a particular industry has been further developed by making use of the gaps identified in the information supply chain whereas traditional mediators have been considerably reduced. All in all, certain magazines have experienced difficulties in fulfilling their social role of bringing a variety of interests to groups of readers; furthermore, there is still a need to further establish their brands to achieve commercial success. As such, the need for innovative ways in creating and publishing content and effectively bringing this to their customers is of great importance. The investment in branding, therefore, makes sense due to the fact that it can give depth and value to a magazine brand within an environment that publishers and companies can control. Through branding, products are discreetly pushed and made evident to the public, thereby reaping the same benefits as advertising, although the former may be less expensive than the latter. Rather than a mere provision of magazine products, publishers and companies can further enhance their commercial aspect by initiating repeat business through branding with which they distinguish themselves from other competitors; their customers will also take their products into consideration when making a decision about who to choose from. Consequently, this can help increase the value of their business, allowing branded magazines to further fulfill their social role as well as achieve commercial success. Branding, therefore, may have a significant impact on both the social and commercial aspects of magazine publications. As such, the use of brands has increasingly been recognized as a major strategy; in their customary role of drawing together individuals who share a common interest, publishers have utilized certain techniques for strengthening their brand, such as the provision of a function that is similar to online search engines, thereby promoting their core competencies. Many of these publishers have obtained success in establishing powerful reader relationships and in acquiring valuable content. Nevertheless, the need for brand development is still evident both for the publishing companies as well as for non-publishing brand owners. A brand is deemed as an assurance to the consumers with regards to better quality compared to the other counterparts of their product in terms of both functional and physical aspects (Olins, 2000). When firms sell a branded product, they aim to ensure certain attributes that cannot be obtained if customers purchase other brands. Brands are mainly associated with the depiction of an individual’s preferred lifestyle. In addition, a brand cannot be merely considered as an addition to a product; rather, it figuratively represents the general information which is characterized by the product itself, as well as the company that introduced such merchandise to the market (Horan, O’ Dwyer, and Tiernan, 2011). The branding concept plays an important role in establishing bonds and expectant waiting in the given product. If the brand can be easily identified as well as retained by consumers, typically, the company’s product branding strategy is considered effective. As mentioned, brands do not merely symbolize the product but also signify a certain idea, personality or lifestyle. It has also been noted that brands are a useful means of establishing trust between consumers and a given product (Hatch and Schultz, 2001). While numerous firms do believe that their publication is a brand, they often perceive that their competitors’ magazines are not. They also demonstrate a focus on short term sales and seldom exhibit a strategy for effective brand extensions. In addition, there is also a lack of planning to carry out their brands internally. New pressures brought about by competition in the publishing market, particularly generated by new entrants and technological advancements, have become an important concern for publishers as they have benefitted from a privileged affiliation with readers. In a previous study, magazine readers identified four dimensions that they considered important in publication brands (PPA, 2008). These included the functionality, awareness, personality, and values dimension of the magazines. Functionality is characterized by the editorial purpose of the given magazine, extending from the presentation of hard data to the usage of a ‘lifestyle’ approach. It was also important to note whether such purpose was useful and significant to the consumer. Similarly important was the ease of access and use, or convenience, as well as efficiency which can be made evident through retail availability, offers for subscription, online media availability, and customer service queries. A magazine’s price and the ways with which it differed from competing publications were also highly considered. The aspect of awareness was associated with how the publication is recognized by consumers, particularly its longevity and consumer promotion. Meanwhile, personality signified the image that a certain magazine represented, from the editorial tone to the overall packaging and production to the consumers’ perceived value for money. Finally, the values dimensions contributed to the assurance of trustworthiness and influence of the publication, based on its consistency, editorial quality, and the quality of contacts with customers involved in the publication. Customer relationships can be formed through various means, such as reader offers, subscription queries, placing of classified advertisements, and experience of customers with the advertisers in the magazine (McQuarrie and Phillips, 2008). Therefore, the concept of branding can be strongly associated with the involvement of customers, particularly their needs, preferences, and overall experience with the magazine that further contributes to establishing a strong and effective brand. On the whole, brand association leads to the establishment of a positive feedback with regards to the product brand that would consequently be deemed as the relation between the brand and the actual product. Generating such bond can lead to a more interactive relationship with customers, thereby increasing the likelihood of repeat purchases (Kapferer, 1992). Being loyal to a magazine brand, and not to a single product alone, has also been a main objective of publishers and brand owners alike. This implies that if a consumer is committed to purchasing one brand alone, there is a reduced likelihood that he will consider purchasing similar products offered by a different brand despite a lower price. Therefore, in order for publications to be fully developed as a brand, it is fundamental that marketing channels are put into effect to maintain brand image and promote retention (McDonald, de Chernatony, and Harris, 2001). These findings point out the need to systematically assess a magazine brand to identify and address certain fundamental issues. For instance, a more structured and comprehensive overview should be obtained with regards to the positioning of the magazine within the media market along with the brand attributes which consumers perceive. This can help develop a more solid basis for developing the overall package. Non-publishing matters and their impact on brand attributes also play an important role, such as the effects of subscriptions, classified advertisements, and other reader offers on the consumers. Assessing brands also enable the publisher to obtain a more understandable view concerning the financial value of their brand in a purchase situation. The issue of considering magazines as brands has brought about certain issues about the overall publishing business, particularly the development of strong relationships with customers as well as the increase of profitability for firms. For instance, the increase of manufacturers’ effectiveness should be evident in operational indicators, including cost and time specifications along with the production cost and unit sales. The providers of entertainment and information should also maintain a strong level of bringing a variety of interests to a diversity of readers. Delivery efficiency of media content, particularly in relation to accuracy and speed, should be examined. Consequently, this can help contribute to the development of innovative strategies for increasing their content’s authenticity and timeliness to consumers, such as through Internet usage (de Chernatony, 2001). Brand managers also play a highly significant role as their main objective is to involve the readers in a brand experience that considers all important factors. This involves numerous brand manifestations that can be considered as commercially practicable and worthwhile. The main focus is to recognize ways with which the brand can be developed to transform the mere readers of the publication into consumers of the magazine brand. Therefore, creativity along with a well-founded commercial sense and commitment to work in new business fields should be present. In conclusion, depending on the type of business that they envision for themselves, publishers should establish two goals when forming a brand. First, they may decide that the conventional business model of selling magazine copies requires broadening to enhance the likelihood of acquiring success in a new competitive business environment. Branding, therefore, is the fundamental strategy for protecting the publication from competitive encroachments. Pursuing profit streams should also be carried out in coherence with an unambiguous strategic brand direction as the mere emphasis on profit often results to the firm compromising its brand values. As a result, this can bring about commercial ineffectiveness of new brand manifestations that can consequently weaken the core brand. Extending magazine brands is often conducted when publishers have laid out major objectives; for instance, to stretch their customer pool has traditionally been the business model for publications, seeking to enhance circulation and overall readership figures. Moreover, brand extensions are carried out by publishers that aim to establish revenue yields from their current customer base; most often, they market a group of products and services under the magazine brand, transforming readers into consumers. Due to the fact that publishers are aiming for two main goals, which are to establish a social role of connecting to customers and responding to their needs and lifestyles as well as to increase profitability of their magazine brands, it is highly important that their brand effectiveness is monitored and measured. For example, a publisher that seeks to increase the profits gained from a limited customer base should take in consideration the establishment of an integrated database to observe the number of brand extensions a certain customer purchases, thereby offering opportunities for cross-selling initiatives. All in all, numerous magazines have still been deemed as ineffective in establishing and maintaining a strong brand, implying an uncertain social role and commercial basis. Therefore, it can be recommended that both customer contacts and finance monitoring be carried out to ensure their brand effectiveness. Customer interaction and communication along with constant research with regards to brand customers can be useful in identifying whether current and future brand extensions address the brand’s promise. Moreover, extensions that are perceived by the customers as irrelevant in adding to the core brand proposition, or damage it, must be taken into re-consideration. In addition, the ability to accurately assess the profitability of a brand along with its targets and extensions can help manage investment decisions as this will identify brand success and failures. Although magazines are considered powerful and influential by means of the compilation of features, a brand has a more complicated series of features that should be effectively planned and managed. While the magazine is merely a part of the brand proposition, it becomes more dependent on the behaviour of individuals, image, and technology. Not all magazines that have become successful meet the exact definition of a brand; however, for all magazine publishers, to recognize and understand the concept of branding and the perceptions of their consumers regarding their publications is highly significant. There have been increased risks for magazines due to the various media developments and competitive pressures evident in the new business environment; therefore, branding disciplines can considerably contribute to firms obtaining a competitive advantage and increased likelihood for long-term success and survival. References Al-Olayan, F.S., and Karande, K. 2000. A content analysis of magazine advertisements from the United States and the Arab world. Journal of Advertising, 29, 69–82. de Chernatony, L. 2001. From brand vision to brand evaluation. Oxford: Oxford University Press. Hatch, M. J. and Schultz, M. 2001. Are the strategic stars aligned for your corporate brand? Harvard Business Review, 79 (2), 129-34. Horan, G., O'Dwyer, M., and Tiernan, S. 2011. Exploring management perspectives of branding in service SMEs. Journal of Services Marketing, 25 (2), 114 – 121. Kapferer, J.N. 1992. Strategic brand management. London: Kogan Page. Mcdonald, M., de Chernatony, L. and Harris, F. 2001. Corporate marketing and service brands: moving beyond the fast-moving consumer goods model. European Journal of Marketing, 35, pp. 335-53. McQuarrie, E.F., and Phillips, B.J. 2008. It’s not your father’s magazine ad: magnitude and direction of recent changes in advertising style. Journal of Advertising, 37(3), 95–106. Machin, D., and Thornborrow, J. 2003. Branding and discourse: the case of Cosmopolitan. Discourse Society, 14 (4), 453-471. Olins, W. 2000. Why brands are taking over the corporation: the expressive organisation, linking identity, reputation, and the corporate brand. Oxford: Oxford University Press. PPA 2008, Magazines as brands: branding solutions for tomorrow’s publisher. Available at: http://www.brandlabuk.com/Branding%20for%20Tomorrow's%20Publisher.pdf Vargo, S. L. and Lusch, R.F. 2004. Evolving to a new dominant logic for marketing. Journal of Marketing, 68, 1, 1-17. Read More