Harlequin Enterprises: The MIRA Decision
Harlequin, a popular publisher of women’s romance novel series, is concerned with whether or not they should shift into the market of single-title books. Harlequin is generally known for their popularity in the publishing of romance series however, given the halt in growth of market share for series and the continuous growth of single title women’s fiction novels, Harlequin is considering moving into this new market of Women’s Fiction with the introduction of their single-title program, MIRA.
The romance market size in the North American Market accounts for 1.2 billion dollars and women make up 100% of this market. With the growing popularity of single title covers, women are now becoming more interested in novels concerning general fiction, mystery and Sci-Fi as well. Since Harlequin is already well established in the market as romance novel sellers, it is possible for them to capitalize on the single title romance novel sales, a growing market. From 1985-1990, single-title romance books from other publishers increased from 72 million to 112 million as opposed to romance series, which only increased from 12 million to 14 million during the same time frame. The growth rate of the romance series novels is growing very slowly or remaining constant. In order to gain more market share, Harlequin will need to consider re-positioning themselves. One advantage they will have as a company is their strong brand and consumer loyalty. Harlequin began a similar project in 1986, The Worldwide Library, which aimed to enter the single-title market, but the product line was too broad and no one knew what genre they were specialized in. The project was abandoned by 1988. This time around, Harlequin still plans to release MIRA in the general category...