VU MKT501 Marketing Management Vu Current Assignment 1
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?
2. What strategies should be adopted by Jang and other leading newspapers to counter this new development in the market?