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MKT MGT - Essay Example

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Through this paper I intend to explain and discuss the marketing strategy of a well known daily newspaper and review how it has achieved its present position. For this purpose we will start of with a brief introduction as to what marketing strategy actually is and a brief…
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MKT MGT
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Download file to see previous pages Broadly it tells who the product will be sold to, the marketing mix and its differentiation and positioning plans.
The daily newspaper that I have selected for the purpose of this report is Financial Times. It is a corporate or business daily newspaper that is published in United Kingdom but is rotated all over the world. It was launched in 1988 by Horatio Bottomley. It was initially known as the London Financial Guide but was renamed later in the same year. In the early years it was in competition with another publication known as financial news but then both the papers were merged into 6 pages newspaper. It has a worldwide publication of around 432,990 (Mikdashi 2001).
In this case the business usually divides the market into sub division based on some common characteristics such as demographics and then one or more segments are selected as target audience. This way they are able to cater to the needs of the audience in a better way. Segmentation can be based on multiple characteristics even. Initially Financial Times was only published in UK and was targeted for business people in that region but as globalization increased and the world started shrinking FT increased its coverage and started seeping from the UK boundaries. The first target audience was Germany with publication in Frankfurt then slowly it became a global newspaper with special additions and supplement for UK, USA, Middle East, Asia and continental Europe. Therefore people all around the world come under their scope and there is no segmentation in terms of geographic region. As the name suggests Financial Times is a business or corporate newspaper which is read by people who belong to the corporate world or students who plan to join it soon. This is the major most focus market of Financial Times. Apart from this people who have interest in the financial working of the market are also ...Download file to see next pagesRead More
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