Add to that a fifth “P”, prospecting. Without sales, marketing is bankrupt. It seems strange in our industry, that price should sit along product, as a subset of marketing. But in newspaper companies, the two are seen as equally important. In our industry where our product – the newspaper – defines what we are, what we do and what we stand for, other strands of marketing fall into second position.
Yet pricing is far more than simply the mechanism by which we generate revenue for our content. As this report goes on to outline, price is a statement of our value. It is a mechanism by which we encourage and reward loyalty. Price is also something that differentiates one newspaper from another.