Thursday, 13 October 2011

Gotta Catch Em All... Niche Marketing

In my media and culture class I did a presentation on magazines and their niche marketing strategies. A niche market is when you target a segment of a general population and specifically market to their needs and wants.
Magazines are good at marketing their products by using niche marketing strategies. For example if you like sports then magazine companies like sports illustrated would most likely target you.
The methods that are used by magazine companies to market the magazine is as follows; first, they must choose their niche market i.e. age and gender demographics and even psychographics, this can be based on the magazine itself. If, for example, it is a sports magazine you most likely are marketing to males with a wide spectrum of age. Secondly, you must choose your marketing strategy method (how you get the word out on your product).
There are 3 major methods to market your product. The shotgun method is aimed to hit lots of people and is typically expensive, to advertise for this would be a bulletin board. Profile matching is a method that tries to determine what a particular group wants by doing research on them then specifically target them.
Riffle method is another way to get your product known. This method targets people based on their interest and habits. This method has pin point accuracy at targeting their product to a specific group. The strategy most commonly used by magazine company is riffle strategy; it is arguable that they use profile matching as well.

The reason why magazine companies market to a certain group is because nobody is equal. Your needs are different than others. Now understanding this, marketers have successfully marketed their magazines to millions of people and magazines are one of the major methods of advertising.

This is a youtube video that explains what is happening to magaines now and their projections into the future.

1 comment:

  1. Chris this video would be a good add on to your research on this transformation of the magazine industry: