The Miami Herald IMC Plan
1. The IMC Mission 1
2. The IMC Objectives 1
3. The Situation Analysis 2
4. Budget 3
1. Seasonality 5
2. Purchase Cycle 6
TARGET MARKET 6
1. Objectives 7
2. Strategy 7
1. Product 12
2. Pricing 12
3. Distribution 12
1. Objectives 13
2. Selling strategy 13
1. Objectives 15
2. Strategies 15
1. Objectives 18
2. Strategies 18
PERFORMANCE EVALUATION PLAN 20
THE IMC PLAN
1. The IMC Mission
To position the Miami Herald as a competitive alternative for readers in Broward, South Palm and Monroe counties. The object is to attract existing readers and consumers of other media products in these areas and to solidify the base of current Miami Herald readers and compete effectively with other publications and media outlets. We want to attract advertisers, from areas other than Miami-Dade. Customer awareness and interest must be built to levels that lead to product trial. Establish the Herald as being an alternate paper to loyal readers of other publications.
2. The IMC Objectives
a. Increase market share in Broward and South Palm Beach counties by 5%.
b. Consolidate and increase share in Miami-Dade and Monroe counties by
c. Establish the Herald as being the best source of news for all four counties with a result of 30% increase in total sales.
d. Increase The Miami Herald subscription base by 10%.
e. Increase advertising revenue in areas other than Miami-Dade by 40%.
f. Expand distribution to Monroe and Palm Beach Counties by 60%.
3. The Situation Analysis-SWOT Analysis
· The Herald's Classifieds section reaches three of the five counties that are projected to have the biggest job growth through 2010. These three counties include Miami-Dade, Broward, and Palm Beach.
· The geographical distribution shows that The Miami Herald has its main market in Miami-Dade County, which holds 65% of the circulation sales.
· The Miami Herald has a good reputation with readers and non-readers alike and therefore.
§ A large percentage of newspaper readers in Palm Beach County feel that the Herald fails to cover news pertaining to their local community.
§ More than half of the newspaper readers from Palm Beach County report that the Herald is not readily accessible in their area.
§ The Miami Herald name alone has a negative impact on consumers in Palm Beach County.
§ Monroe County is not effectively covered by any of the newspapers.
· The Sun Sentinel has higher total revenue than The Miami Herald. The $20 million difference comes from higher advertising revenue. Although the specific numbers are not provided, the circulation figures in Appendix B show that the Sun Sentinel has a lower total circulation than The Miami Herald. ...