Find a Niche to Remain Viable in Changing Markets

Yesterday’s post discussed how print media properties are challenged to remain relevant in a time of rising costs and shrinking readers of print versions of their products. One strategy I identified to overcome this challenge is to explore options for publishing niche publications. Today’s post is an example. The Philadelphia Inquirer, a large metro daily newspaper facing the declining market referenced previously, has launched a glossy magazine, called I. The magazine will publish six times a year and has the advantage of a built-in distribution as it is inserted into newspapers.

Why would the Philadelphia Inquirer do a brand extension at a time of such uncertainty? To pursue a market opportunity, in this case, reaching affluent consumers. I will target upscale areas of the Philadelphia market, making it attractive to advertisers. Revenues from ads are key to the success of a newspaper operation, and if revenues from the traditional daily newspaper product are unstable, it is imperative to look elsewhere for revenue streams.

A continuation of this trend in the newspaper industry will not be surprising. It is a matter of evolving the business model rather than trying to rely on a mode of news delivery that may be past its prime, the print newspaper.

Link: DM News – “Philadelphia Inquirer Launches Luxury Glossy”

Author: Don Roy

Don Roy is a marketing educator, blogger, and author. His thirty-year career began with roles in retail management, B2B sales, and franchise management. For the past 22 years, Don has shared his passion for marketing as a marketing professor. Don's teaching and research interests include brands, sports marketing, and social media marketing. Don has authored over 20 articles in scholarly journals, co-authored two textbooks, and self-published three books on personal branding. Don is an avid hockey fan and enjoys running. He and his wife, Sara, have three sons.

One thought on “Find a Niche to Remain Viable in Changing Markets”

  1. “Why would the Philadelphia Inquirer do a brand extension at a time of such uncertainty?” I believe the answer is that it is something new, something fresh, and different. People are attracted to those type of emotions when new products hit the market. A glossy magazine is such an interesting approach to the problem. I can imagine that it will be very upscale therefore attracting higher end readers and advertisers. Not a bad idea. It will be interesting to see if this works. I agree with your comment that it is a way of revolving the business model. New and creative ideas are what it takes to keep the cycle going.

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