This report has been
commissioned by the Board of The Economist Group to understand the critical
components of operation of the company in this changing era. It is imperative
for the firm, to develop effective Business strategies to ensure that the firm
is able to achieve its goals and objectives despite the challenges.
During January – June 2017 The Economist had
circulation worth nearly 95% in the UK.
Digital circulation increased by over 7% during 2017,
which showed a 12% year on year growth.
During January to June 2017 circulation of digital
format of the magazine was determined to be nearly 35% while for the print
version it was more than 65%.
This report focused on evaluating competitiveness and
effectiveness of overall strategies adopted by The Economist Group.
SWOT and PESTLE
analysis of the firm was conducted in the report. Herein it was found that the
company is overly dependent on UK market, which in turn was affecting its
performance. The Objective of this report was to assess competitiveness and
strategies adopted by The Economist Group. During the study, it was observed
that the firm’s excessive dependence on one country, as it is its largest
market, is affecting its performance. It is imperative that the firm expands
into other markets as well. The brand value analysis showed that the company enjoys
a superior position in the industry and has a strong as well as loyal customer
base, which has been recognized as one of the main reasons behind the
ineffective performance of the firm. On the other side, it was also observed
that the company’s superior brand recognition and brand value, has essentially
helped it to perform better than many other media firms in the country.
The key recommendations as discussed include:
The management should focus on creating a strong
technology-based product line
Focus on selling e-magazines, audiobooks, etc.
Diversify into other forms of news
Develop strong customer base and
distribution networks in countries other than the UK.
Increase online Subscription.