15 Designing marketing models for media products
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Rouven Seifert
Abstract
Managing media products is challenging. Media products are innovations with hedonic consumption utility which are distributed in competitive physical and digital markets influenced by social and cultural trends. These attributes often cumulate in short life cycles and high flop rates. Successful marketing strategies require knowledge about the ecosystem and the effects of marketing activities. This article provides a framework to develop marketing models and to evaluate existing media business studies. We discuss fundamentals in starting the modelling process, specifying the model, and fitting relationships. Our framework provides an introduction for researchers who are new to this field and some guidance on advanced econometric specifications. On each step of the modelling process, we elaborate on key challenges in various media industries and illustrate econometric issues with examples to provide implications for managers of media companies, scholars, and policy makers.
Abstract
Managing media products is challenging. Media products are innovations with hedonic consumption utility which are distributed in competitive physical and digital markets influenced by social and cultural trends. These attributes often cumulate in short life cycles and high flop rates. Successful marketing strategies require knowledge about the ecosystem and the effects of marketing activities. This article provides a framework to develop marketing models and to evaluate existing media business studies. We discuss fundamentals in starting the modelling process, specifying the model, and fitting relationships. Our framework provides an introduction for researchers who are new to this field and some guidance on advanced econometric specifications. On each step of the modelling process, we elaborate on key challenges in various media industries and illustrate econometric issues with examples to provide implications for managers of media companies, scholars, and policy makers.
Chapters in this book
- Frontmatter I
- Preface to Handbooks of Communication Science series V
- Contents IX
- 1 Management and economics of media and communication – History and definition of the field 1
-
Section I – Theories
- 2 Industrial organization of media markets and competition policy 21
- 3 Approaches from strategic management: Resource-based view, knowledge-based view, and dynamic capability view 47
- 4 (New) Institutional media economics 69
- 5 Political economy 87
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Section II – Methods
- 6 Quantitative methods 109
- 7 Qualitative methods in media management research 129
-
Section III – Key issues
- 8 Convergence 151
- 9 Content platforms 169
- 10 Media concentration 187
- 11 (Re)defining public service media from an economic perspective: Damned if they do, damned if they don’t 203
- 12 Innovation & creativity: Media as business and commons 223
- 13 Labour and risk in the media industries: Individual and organisational perspectives 241
- 14 Media and the economic cycle 261
- 15 Designing marketing models for media products 281
- 16 Branding: Media brands and brands as media 311
- 17 Transnational media and their management 333
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Section IV – Regional perspectives and peculiarities
- 18 North America 355
- 19 Latin America 365
- 20 Media management and economics research in Northern Europe 375
- 21 Southern Europe 393
- 22 Central and Eastern Europe 405
- 23 East Asia 417
- 24 Media management and economics research in China 427
- 25 Media economics in India: Traversing the Rubicon? 441
- 26 Australia and New Zealand 457
- 27 Media management scholarship and research: Emergence and trends of the discipline in Africa 469
-
Section V – Future
- 28 New media and the need for new analytical frameworks: Dual challenges to media economics and policy analysis 485
- Contributors 497
- Index 505
Chapters in this book
- Frontmatter I
- Preface to Handbooks of Communication Science series V
- Contents IX
- 1 Management and economics of media and communication – History and definition of the field 1
-
Section I – Theories
- 2 Industrial organization of media markets and competition policy 21
- 3 Approaches from strategic management: Resource-based view, knowledge-based view, and dynamic capability view 47
- 4 (New) Institutional media economics 69
- 5 Political economy 87
-
Section II – Methods
- 6 Quantitative methods 109
- 7 Qualitative methods in media management research 129
-
Section III – Key issues
- 8 Convergence 151
- 9 Content platforms 169
- 10 Media concentration 187
- 11 (Re)defining public service media from an economic perspective: Damned if they do, damned if they don’t 203
- 12 Innovation & creativity: Media as business and commons 223
- 13 Labour and risk in the media industries: Individual and organisational perspectives 241
- 14 Media and the economic cycle 261
- 15 Designing marketing models for media products 281
- 16 Branding: Media brands and brands as media 311
- 17 Transnational media and their management 333
-
Section IV – Regional perspectives and peculiarities
- 18 North America 355
- 19 Latin America 365
- 20 Media management and economics research in Northern Europe 375
- 21 Southern Europe 393
- 22 Central and Eastern Europe 405
- 23 East Asia 417
- 24 Media management and economics research in China 427
- 25 Media economics in India: Traversing the Rubicon? 441
- 26 Australia and New Zealand 457
- 27 Media management scholarship and research: Emergence and trends of the discipline in Africa 469
-
Section V – Future
- 28 New media and the need for new analytical frameworks: Dual challenges to media economics and policy analysis 485
- Contributors 497
- Index 505
