To: Miranda Priestly, Brand Manager
From: Subomi Y. Johnson
Date: April 27, 2009
Re: Analysis and Recommendations for Seventeen Magazine v. Teen Vogue
In regards to my current assignment, I have conducted detailed analysis of Seventeen Magazine in comparison to Teen Vogue Magazine. In this project I have also included an industry analysis for teenage girl magazines in 2009 and an overview of the marketing mix for both our brand Seventeen as well as Teen Vogue.
In conclusion, I have proposed 3 recommendations to better target our audience, build better brand equity, as well as expanding our ...view middle of the document...
Since the end of 2007, the economy has played a role in controlling the purse strings of both the magazine publications as well as those who purchase the work. As the economy continues to turn, the incomes of the target market are also declining , which will in turn decrease the amount of magazines and other forms of entertainment that readers will send their disposable incomes on. As with any recession the cost of raw materials, has increased causing the price of printing and some retail prices of these publications to rise. The magazine and periodical industry despite the economic times is expected to grow at a rate 1.2% each year for the next 5 years proving that that this industry is still stable and will not lose detrimental ground as a result of the times. (See figure 2)
Innovation and technology have had great influence on the magazine industry as they can reduce expenses as well as extend the magazines reach. According to Stephanie Clifford of the New York Times:
A New York Times analysis of circulation data for the 50 largest and most expensive magazines showed that in the last four years, as overall prices rose 14 percent, subscription prices dropped an average of 9 percent.
As a result, a common trend for magazines and newspapers is expanding their channels by incorporating online components to their publications. In the event that newsstand sales decline, the readership on the internet will keep the publication alive and in contact with its target audiences. The National Directory of Magazines reports that, “There were 19,532 consumer magazines in the United States in 2007 (of which 13,247 magazines had websites)”. This is prevalent in magazines such as Seventeen, Teen Vogue, CosmoGirl as they now incorporate online portions to their print publications, providing its readers with a more interactive and personal experience with the brand. In other cases some magazines have turned to 100% online publications, for example ELLE Girl is now found on ElleGirl.com.
Likewise, the ongoing trend of increased internet usage has created a curse and a blessing for those in the magazine industry. The internet allows readers to access the magazines when and where they please at little cost. However, the internet is also full of the other competitors. As websites and blogs such as twitter, Facebook etc. are integral to the lives of 12-17 year olds, the services once provided solely by print magazines is virtually free on the web. The internet allows readers to find other forms of entertainment either from actually magazine websites, or news stories from the search engines catering to the preferences of the subscribers.
Part 2: Brand Analysis and Comparison: Seventeen to Teen Vogue
A. Target Market
Seventeen is known as the “All American magazine” as teenagers around the nation can relate to is stories and advice, after all it is written with the...