An organization’s vision defines its standings. Marketer must decide beforehand about the position he wants his company to retain in the market. Four strategies can be followed with respect to market dominance.
1. Market Leader is the one who dominates the market with highest market share, while market share can be defined in terms of portion of revenue, profits, customer base etc. occupied by a company.
2. Market Challenger is the 2nd most prominent player in the market that continuously challenges the market leader and sometimes even switches position with it if the competition is close.
3. Market Follower, actually, follows market leader and challenger and not very active in competition.
4. Market Nicher, on the other hand, runs its own race. He finds those markets that are neglected by all the three above and mostly serves customized products and services to its customers.
Marketing Mix is the set of tools that are used to satisfy customers’ needs in the best possible way. It is based one four major elements i.e. Product, Price, Place, Promotion.
Print media which Pakistan inherited started in 1939 with the foundation of Jang newspaper as the oldest Urdu newspaper of Pakistan. While Dawn was the first English newspaper, that was founded by Quaid-e-Azam Muhammad Ali Jinnah in 1941. This industry evolved with the time and many newspapers were launched afterwards. In current scenario, print media market is saturated with a large number of newspapers that has reached to more than 1400 newspapers published in all languages with 60 major newspapers published from all cities (include both morning and evening issues).
The situation Being the oldest, Jang media group has a well-established name. Daily Jang is playing the leading role with highest readership and circulation. It has a daily circulation of more than 800,000 copies. Jang media group has its presence in electronic media too. Geo news is the most widely watched private TV channel in Pakistan. It has 27% viewership that is highest amongst all 17 news channels working in Pakistan.
Dunya News was started on December 1st, 2008. At the beginning, channel was established as follower to leading channel Geo News but at later stage, certain unique programs were initiated that made their place and got popular in the viewers, even Geo had to follow Dunya to some extent and came up with related programs. That is how; Dunya TV had moved itself from the position of Market Follower to Market Challenger. In just three years, it has showed rapid growth and acquired the 2nd position in its category with 16% viewership and still growing.
To enhance its presence in media world, it has now entered in print media with the name of “Daily Dunya”. Test launch has been completed in Lahore, Faisalabad and Sargodha, and it is heading towards commercial launching in all over the country.
1. What strategies Daily Dunya should adopt to become Market Challenger in print media too?
Just for some help
The print media is considered to be one of the most flourishing industries today. This medium is also particularly very popular to reach the target audience for advertisers. The different types of print media give a plethora of options for people to reach a varied bracket of users. So, be it newspapers or magazines, every medium has its particular advantages, a thing which should be considered to be of utmost importance by all advertisers and clients. However, print media also has its own disadvantages. Here, we shall take a quick look at the advantages and disadvantages of print media.
Different types of print media (newspapers and magazines) have a loyal readership. This can be very useful for advertisers as compared to advertising on the Internet.
If you are targeting a particular geographical area, you can do so with ease through print media. For example, a local newspaper would be a best medium to advertise about a new shopping complex.
You can choose the size of the advertisement space. This will help you to plan the budget of the expenses to be incurred while advertising.
Certain forms of print media have a very loyal fans following in terms of readers. This would guarantee you added readership.
Magazines and newspapers are always in the eye amongst public. Magazines are read for a period of a month, which brings more attention to an advertisement.
You can even advertise through brochures or leaflets depending upon your target audience. If the information is in detail, a brochure can prove to be an apt option. A leaflet in that case, would be useful for a brief message.
Daily News should use market Follower Strategies and challenge the other leading newspaper. Check your lecture handouts for Market Follow Strategies
2. What strategies should be adopted by Jang and other leading newspapers to counter this new development in the market?
1. Less Costly Than print Media
2. Can Be Used In Different Language Newspapers
3. Good Option For Targeting Educated Target Market
4. Retain customers.
The other leading Newspaper should use Market Leader Strategies as they are the market leader.DOWNLOAD SOLUTION HERE