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Business Studies Homework

Question

The Kiki magazine case deals with analyzing marketing opportunities. You have been hired by Kiki magazine to analyze the strategy for marketing to the 9 to 14 year old girl niche market. Your analysis should address the following questions:

1. What types of market research should Kiki employ to determine the market potential for magazine?
2. By targeting the 9 to 14 year old market, Kiki will need to attract new 9 year old girls each year and will lose readership as they age. What are the challenges that this presents to Kiki?

Develop a response that includes examples and evidence to support your ideas, and which clearly communicates the required message to your audience. Organize your response in a clear and logical manner as appropriate for the genre of writing. Use well-structured sentences, audience-appropriate language, and correct conventions of standard American English.

Answer

Kiki Magazine

Contents

Introduction. 1

Market Research. 1

Losing and Adding New Readership. 1

Works Cited. 3

Introduction

Market Research

Market research is crucial at the beginning of a business as well as in the continued functioning of the business. To determine the market potential for Kiki Magazine, a combination of primary and secondary research methods must be implemented. Primary market research will encompass gathering first-hand information from readers and other active stakeholders through questionnaires or interactive events (Chansarkar & Baines 67). This will serve to evaluate the position of the current readership while analyzing the reaction and reception of the potential market. Secondary market research methods will include analysis of already present information and data such as reports and statistics, thus allowing for the creation of trends from previous records and further projection for future performance (Chansarkar and Baines 89).

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Losing and Adding New Readership

Kiki Magazine targets the 9-14 age bracket as its sole market with a message of promoting style and fashion while still remaining innovative and productive. The magazine seeks to empower young girls as they enter their teenage years. However, this means that it has to attract new readers aged 9 since readership is lost as years go by. This presents a unique challenge that requires a system of continuity in both the entry and exit of readership.  Extreme creativity is required to ensure an infinite cycle in the magazine‚Äôs readership.

A good strategy would be to package the magazine in progressive stages that allow for the entry and growth which finally leads to exit of the age bracket.  In this way, the magazine feels like a stage of development for the readers. Moreover, it will automatically create more excitement both for the readers joining the cycle and those leave it after completing the entire process. Lastly, the marketing and advertising departments will need to engage in the task of both retaining old readers and inviting new ones in equal measure.

Works Cited

Chansarkar, Bal and Baines, Paul.  Inroducing Marketing Research. New York: Wiley, 2002. Print.

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