What Are the Different Types of Media Market Analysis?

Media market analysis refers to the activities of objectively and systematically collecting, analyzing, and interpreting relevant information in order to make correct decisions, and transform it into information required for decision-making. It is through some means to achieve a fundamental understanding of the media market. The media market refers to an industry market that has both cooperation and competition and is composed of various mass media such as newspapers, magazines, radio, television, movies, and new media.

Media market analysis

Specific steps of media market analysis: ^[1]

The first step is to understand the structure of the media market. It mainly includes the following issues:

1. What is the geographic market for this media organization (newspaper / taiwan / web) and products? This question is simple but important. Because the media geographic market influences the answers to other questions. All media organizations must operate within the market scope of a specific geographic area. Only in these geographic areas can media organizations effectively provide their products to a wide audience and advertisers. Media markets are basically markets in different geographic regions. Most media organizations have a clear geographic area. When doing a media market analysis, it is necessary to clarify the retail transaction area and the main market area of the media market, as well as the dominant influence area and target market area of the media market. Attention should also be paid to the impact and opportunities brought about by changes in geographical areas, such as suburban urbanization and the rise of urban agglomerations, on the media market.

2. What is the nature of the media products of this media organization (newspaper / taiwan / web)? For example, the scope of the report, focusing on hard news, soft news, or viewpoints; the main areas of the actual media; the media's graphic and audiovisual performance and other means of expression. As far as the product market is concerned, it can be divided into the following questions: (1) How much of the product content is related to issues or events of public concern? (2) How balanced is the media content on controversial issues? (3) What is the depth and breadth of the reported issues and events? (4) Are product market services included in the organization's objectives? and many more.

3 What are the changes and needs of the recipients or user groups of media products? According to the nature and purpose of media organizations and products, and competition in the media market, the service target should be identified. We must clarify the overall scope of the service group, the target service group and potential service groups, and the structural status of the service group, such as age, occupation, region, gender, education, and economic status. Segmentation of groups.

3 Who are the competitors of media organizations (newspaper / taiwan / web) and media products? Want to distinguish between the different effects of homogeneous and heterogeneous competition?

4 How does the competitor's media product compare to that of the media organization (newspaper / taiwan / web)? To what extent are they substitutable? Who are the potential alternatives?

5. How difficult is it for new media organizations to break through barriers to market? You can refer to the survival rate of new fake media products in our market or similar markets in the past few years.

6. What obstacles cause these difficulties? Technology, policy or other factors?

7. Will the structure of our market change in the near future?

The second step is to analyze and define the goals of the organization. It can include the following questions:

1. What are the short-term and long-term financial goals specific to the media organization? Financial goals include profit goals and revenue goals. Once these two goals are set, the expenditure plan can be decided accordingly.

2. What are the organization's specific short- and long-term media product goals? Media product goals are related to financial goals, because products are related to expenditures, and products that are exchanged through the market are also related to income.

3 To what extent can the goal be achieved? Or what is the expected market performance of this newspaper / Taiwan?

4 If the goal cannot be achieved, is it because the goal is not suitable for the market?

5. Should you consider adjusting your organization's goals in the near future?

The third step is to analyze market demand. It can include the following questions:

1. Has the demand for products of this media organization (newspaper / Taiwan / Internet) increased, decreased, or remained the same? Changes in demand are easy to measure. For newspapers, you can analyze their sales and market penetration. For radio and television, you can analyze their viewing rate and market share.

2. If demand changes, what causes it? Factors such as own prices, alternative or complementary prices, consumer income, consumer preferences, or changes in product quality can be considered.

3 Are there any signs that demand will change in the near future? This requires predicting future trends. These forecasts may also form the basis of long-term plans.

The fourth step is to evaluate the economic environment. It can include the following questions:

1. Will the unemployment rate rise or fall in the future market? This question concerns the need for information. As unemployment rises, people may be short of money, and demand for certain media products will fall, but on the other hand, the time spent watching TV may increase.

2. Will business activity increase or decrease in future markets? This will be related to the needs of the advertising market.

3 What will happen to interest rates in the future? From a long-term perspective, this will be related to the borrowing capacity of the media in the expansion process.