Introduction to Marketing and Creative Product Promotion
The New Musical Express also known as the NME is a popular music publication in the United Kingdom. NME has published weekly since March 1952. It started as a music newspaper, and gradually moved toward a magazine during the 1980s. Market PenetrationMarket Penetration that NME has done is created a magazine yearly subscription this is market penetration because the product is not being changed its just offering a new way of being able to purchase the product. It still appeals to the same market and people who read and by the magazine.
| Product DevelopmentOne way that NME has developed its products are to host stages at festivals, with bands that they support. They advertise their products through this stage and at Reading and Leeds festival these having become well known stages.
| Market DevelopmentA type of market development that NME has done is creating NME.com, a website which holds the same content as the magazine but appeals to people who use the internet a lot rather than buying a magazine.
| Diversification One way that NME has used diversification is by sponsoring a UK tour known as the NME Tour. These tours appeal to different people and it is a completely new product.
| Existing Products
NME stays on top of the market by without fail having a weekly edition to the magazine with new and exclusive information in the music scene. It gives updates on top flight bands, as well as looking at new and upcoming music artists which makes it different to many other magazines. The magazine also runs regular competitions to win tickets to music events, which appeals to the customers as it is a music magazine. NME also advertises a large amount and has its own radio station and TV programme, which they use to advertise their main products being the magazines and ticket sales. Relationship Marketing
NME uses relationship marketing in a way by creating...
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