There are a couple of magazines that are similar in
presentation to The Radar, such as Gainesville Magazine and Home, but they do
not cover the same topics. The Mahogany Revue was a print publication in our
area, but the pub does not appear to have a consistent publication schedule;
their subscription rate is $25 a year. Black College Monthly is a newsprint
type publication that is targeted to college students, specifically at
Historically Black Colleges and Universities; however, the magazine is
distributed in the Gainesville which is not the home to any HBCU.
The Gainesville Magazine which is published by the
Gainesville Sun is The Radar’s direct competitor with concern to appearance; as
a glossy perfect bound 100+ page publication. Their topics cover local issues,
opportunities and entertainment. They are not targeting the same readers, but
they are targeting the same advertisers as The Radar. But The Radar’s
readership will offer a competitive advantage to the advertisers. Currently
Gainesville Magazine seems to have discontinued their online presence except
for a Facebook page.
The Home Magazine is published by Advantage Publications
in Gainesville. The offer two publications with the same look and feel; one for
businesses and the other for residential customers, aptly named Business in the
Heart of Florida and Home. Again with the pubs The Radar is competing for the advertising
dollars, I don’t think there is much competition on other levels as The Radar’s
readership target is different. Home covers such topics are health, education,
home and garden, self, food and the arts. The business mag covers topics of
interest to businesses including health and motivational issues.
As I mentioned Mahogany Revue and the Black College
Monthly publications are targeting minorities, but they are taking a very focus
appreciate to the audience. They are also not upscale in appearance as they are
taking a different approach with their look and feel.
In the case of all the publications listed, I think their
customers will leave them and move to my publication if they are member of my
target market segments. I believe that in all cases advertisers and readers,
for the reason listed in my customer segmentation, at least give The Radar a
try because of the unique selling proportion. The unique
value proposition is that The Radar is the only upscale print magazine in the
area that offers a local flavor and is targeted to minorities. The position
offers value to the customer as well the businesses who are seeking to place
their ads in such a publication. In additional to the printed publication, The
Radar will also offer a website and a mobile app.
African Americans, like most all Americans
aspire to be affluent and most live in hope that affluence is in their future.
Our brand seeks to inspire and bring that hope to life. Our solution fixes a
real problem, but there are no new measurable consequences if we are inactive.
Potential customers will continue to find ways to meet their needs. Regarding
customers’ reading our publication, I do not view customers taking
advantage of our service as an opportunity to make a switch, but reading our
publication could be an addition to what they are reading. I think it will be
easy to get them to review the first publication because of curiosity,
continuing to gain their attention will require articles of interest and great
local photography. There are no
competitors addressing this specific target audience in this area. One national
publication that mirrors much of The Radar’s brand is Ebony Magazine; but the
basic difference is our local flavor. The
Radar’s competitive advantage is that it has a singular focus of featuring
minorities with a local flavor. The presentation of the magazine is a glossy
upscale publication targeted to affluent members of the minority community.
There is an emphasis on Africans Americans, but the magazine will also feature
Asians and Hispanics. The magazine will not cover local religious events as
those types of events are covered weekly in The Guardian, a local newspaper
targeting minorities.
The Gainesville Magazine has a competitive advantage in
that they can deliver their magazine with their newspapers. No one else in town
has this ability. The Radar magazine will give the minority community a sense
of pride that they warrant a publication with upscale branding. Someone thought
enough of their market value that they are willing to expend real dollars in a
great product just for them. They are receiving more than the leftovers and
second best.
I don’t think the competition is doing what I’m planning
to do because they are not aware of the size of the unmet need. Also if you are
not a minority, which most of the local publisher are not; you assume that your
content is suitable for the majority of audiences. You don’t understand that
there is a segment of the population looking for something else. The
Gainesville Magazine appears to be the market leader in print for our local
area. Their current pricing is $9.95 for six issues a year. The Mahogany Revue
is priced at $25 a year, but I don’t think their circulation is large. The
other publications do not appear to have a subscription price. Home and
Business in the Heart of Florida are the news publications in our area at about
eight years old. Other than that grow remains flat.
Hello Margaret,
ReplyDeleteYour summary competitive analysis table clearly identified your competitors. Clearly, you can develop a niche within your targeted segment. However, as noted in one of my earlier post, I am unsure if your targeted geographic area will provide sufficient customers to make your venture economically sustainable. I fully understand your passion for addressing a perceived unmet need. However, as an African American myself, I believe I can get sufficient information from mainstream media. Arguably, this has been one of the reasons for the demise of Ebony magazine. I would suggest partnering with a major media house and offer niche segment stories. Just a thought.
Margaret,
ReplyDeleteI think that the competition for the type of magazine that you are trying to create is going to be limited. As you noted, many of the local magazines that have a minority emphasis are catering to a different sub category demographic and have a much different focus than what you are trying to accomplish with your magazine. In my opinion, the afluence aspect of the magazine make it unique and provide some special insights into different multicultural communities with the primary emphasis being on the African-American community. It will be interesting to see as your venture becomes successful to see if these other magazines will seek to mimic your ideas. You have some great ideas here that are going to gain traction.