Video Case Study #1
About Meredith Corporation
Meredith Corporation is a marketing company that deals with many well known brands, including magazines such as Better Homes and Gardens, Family Circle and Ladies Home Journal. Their publications reach about 30 million readers in 8 out of 10 homes. They serve the media as well, with brands on television and other markets. Meredith Corporation is popular in marketing items that serve the home and family, health and wellness and other “self” areas. They distribute their products in print, television, online and other methods (Meredith Corporation, 2012). They offer Regional and a Demographic edition of their magazines and their pricing is based on how you buy, with renewals priced differently than new customer’s subscriptions.
Meredith Corporation works with many of the nation’s top companies, such as Lowe’s, Kraft, Rachel Ray and Macy’s. Their databases provide companies with the customers interested in the exact market they target. Meredith Corporation focuses on three key strategies, developing fundamental commitments to publishing, commitments to broadcasting and to produce annual revenues across multiple platforms (Mission Statement, 2012).
Segmenting Its Markets
Meredith Corporation mainly focuses on the demographic segmentation, more specifically gender segmentation. They tend to market only half the American population, females more than males. Since women are more focused on home, family, and personal development, Meredith has developed a specific product mix meeting the needs of various women (Meredith Corporation, n.d.). Their segmentation doesn’t only stop at gender. They segment by age and income, and their lifestyle habits. Examples of their lifestyle segmentation, they offer magazines to women having children, who are close to retirement, and also by their income, with magazines targeted directly at their higher income customers. They use complex data...