each County.Monroe County is not effectively covered by any of the newspapers.The Sun Sentinel has higher total revenue than The Miami Herald. The $20 million difference comes from higher advertising revenue. Although the specific numbers are not provided, the circulation figures in Appendix B show that the Sun Sentinel has a lower total circulation than The Miami Herald. OpportunitiesA local edition of the Miami Herald has a potential for growth, since The Miami Herald has a good reputation with readers and non-readers.To expand distribution in Palm Beach county by establishing strong relationships with local businesses and vendors.Alter the product name (e.g. The Herald: Palm Beach edition). The Miami Herald would have the greatest sales potential, in Miami-Dade and Monroe counties but would also profit from other markets. Therefore, we must keep and increase our current reader base in the Miami-Dade and Monroe areas, while attempting to attract Palm Beach and Broward county residents.The population figures show that Broward and Palm Beach are the counties with greatest potential, since they have a greater population than Monroe. The advertising campaign should be aimed to get the Sun-Sentinel and The Palm Beach Post readers to switch to The Miami Herald. ThreatsIts main competitor, the Sun-Sentinel, focuses its sales in Broward County, while The Palm Beach Post has its major market in Palm Beach County.The analysis of the competitive sales points at the problem of getting advertisers for The Miami Herald new local editions in those counties where the Sun Sentinel controls the market.The general decline in newspaper readership.4.BudgetTotal Budget ------------------------------------------------$2,500,000Promotion------------------------------------------------$1,000,000oAdvertising-----------------------$650,000oPublic Relations------------------$250,000oPersonal Selling-------------------$200,000Product-----------------------------...
