StrengthThe major strength was that it is a massive database (collection of customer information of any U.S. media company). Has a good research that will use it for more profit. Furthermore, Meredith has been able to enjoy an increase in its revenue and profits from selling its marketing research to other companies who need insights on women. Meredith has become the undisputed leading media and marketing company focused on women. Home-owning households as well as a good portion of non-home-owning households.
Information putted all into one place so that managers throughout the company can access it. Conduct various types of surveys both online and through the mail asking questions that help to dig deeper and gain insight on customer thoughts and decisions making.WeaknessCompany growth depends on customer preference which mean it could be unstable. Print media is going out of business, media doesn’t reach the same amount of customers as it does with print. Excess virtual interaction with customers.2. Can impersonal data points really result in meaningful relationship? Explain.
Yes, these impersonal data points really result in meaningful relationships. Impersonal data points are the backbone for meaningful relationships. Take Amazon as a company that is successful in this matter. The company analyzes your transactions then builds a database around your interests. After purchasing a transaction, a survey is sent to your email to verify that all conditions where perfect when the product arrived. If not, then there is room for improvement and a custom return label gets sent to you. Amazon accommodates all the needs for the customers.
As in the case study Meredith stated that her marketing research can tell more about a client than their friends or family could. And we think this method Meredith is using is efficient and that studying and offering what people want leads to customer loyalty. Paying more attention to impersonal data points and using them to engage with customers created a meaningful relationship.3. Does Meredith’s marketing information expertise transfer into other media and products? Yes, Meredith’s marketing information expertise would be transferred to other media and products, for examples websites, television station and cable programming. This can be proved by the fact that the system would make users more independent. The magazine publisher transformed to the creator of “content” delivered to women whenever, wherever, and however they want social networking (such as facebook, twitter and instagram).
4. As a company still heavily rooted in print, what does Meredith’s future hold? Meredith is still heavily rooted in print, the company is focused on sustainable media marketing methods. Today’s, there has been a gradual change in the general population away from printing works towards more of digital products. Through publishing printed materials would not really disappear totally in the next few years, the widespread use of the Internet would force publishing companies to engage in online marketing.If Meredith chooses to maintain its course on printed marketing there is a risk for decline in sales and can’t defeat its direct competitors. But older generations resistant to cultural shifts might prefer to hold an actual magazine over a digital device. With the mindset of using printed marketing as a foundation to new ventures it is difficult to find an issue with Meredith’s marketing strategies.
5. What recommendations would you make to Meredith’s executives? One of the recommendations for the company is to engage in online publishing and upload the printed materials through the Internet for subscription while still circulating them in an actual market. Another recommendation to Meredith’s executives would be to continue innovating, creating radio talk shows, and consumer blogs. And Meredith Corporation should expand and offer custom contents for men and children as well. When it is about family then it is not just about women but men and children as well. It is not just that women are shopping like couples or bachelors. It will be an opportunity for Meredith.