Strategic Management - News Paper business Essay

Strategic Management - News Paper business - Essay Example If management wants to stress on the importance of customer needs they may vary from area to area in the regions the firm offers its products. Innovation can be considered as prime need of the customer in the case of weightage to customer needs. Every body covers the news, but the presentation matters. If the presentation is against the interests of a particular community they may be against the organization. So presentation of the news and analysis of the events must be according to the needs and interests of various customers in different areas. Desired Position: It is important to meet the customer needs in every business and industry. Here the needs of customers are timely delivery, publishing and presenting the problems in their areas, critical analysis of current national and international issues, interacting with the customer to let him express his views, to make government officials and heads of departments and governments to talk communicate with the people through our newspaper. The innovation in this area can be made possible by selecting a different topic and a new problem before out competitors pick and communicate with the people. The innovation here lies in continuity. ... The strategy canvas: The strategy that gives success in this business is not only to market the product but also getting advertisements. Generally in this business getting advertisements is the way to get profits. Obtaining advertisements depends upon the circulation of the newspaper. More the circulation the more number of advertisements the news paper can get. One can fix more tariffs for the ads also. The tariffs depend upon two factors: 1. The area that is covered by newspaper, 2. The circulation of the newspaper. If we want to be a head of our competitor having equal circulation with us, we must gather more ads for more tariff. This is made possible if the newspaper is supplied in more number of areas than our competitor. Though we are having an equal circulation with our competitor by selling our newspaper out of the state (if our competitor sells within our state) and out of the country (if our competitor sells his news paper within our country) and in more countries (if our competitor sells his product in other countries also). This strategy involves high establishment costs regarding the installation of offices and edition centers regarding collection of advertisements and publication of newspaper. But this investment will be fruitful in long term as it gives upper hand over competitor in increasing the circulation in future and deciding high tariffs for advertising in our paper in present. Along with newspaper one can publish magazines also. This thing will give an advantage to our infra structure as more than one product can be launched from the same infrastructure. This gives publicity without an advertisement as all the readers of magazine know about the newspaper and the readers of newspaper know about the magazine. This