Consulting Report Essay Example | Topics and Well Written Essays - 2500 words

Consulting Report - Essay Example The global economic recession has reduced the number of readers and has significantly reduced the advertising revenues. The publishing cost has been increased and major of the newspaper publishing organizations have increased the price level. Therefore, the readers are going for free online news contents. The study will analyze the recent trends in the newspaper industry. Moreover, the study will analyze and evaluate the strategies that have been adopted by the leading organization within the US newspaper industry. The study will provide details of the adopted strategies by the publishing industry in order to overcome the current losses. By implementing internal and external analysis of this industry, the study will reveal the measures to be adopted and implemented by the Chronicle Gazette in order to increase its subscription and advertising revenues. State of the Newspaper publishing Industry Within the US newspaper publishing industry, The Wall Street Journal, The New York Times a nd USA Today are three leading players. Data on Declining Circulation The Wall Street Journal is the leading newspaper in US considering the daily sales figure. Apart from the US editions, the newspaper also has European and Asian Edition. For the six months till March 31, 2010, the number of daily week day circulation was a base of 2,092,523 readers. On the other hand, for the same period the figure of circulation base has decreased to 1,913,284 readers. New York Times is another leading newspaper within US. The circulation figure of New York Times’ weekday edition has failed by 8.5% to approximately 950,000 subscriptions. Moreover, the study edition of this specific newspaper has failed by 5.2% at end of 2010. USA Today is one of the major daily selling newspapers in US. During the last six months since March 31, the sale of newspaper has declined by 13.6%. Status of Newspaper leaders Recently the wall street journal has accepted an effective price based model of paid and f ree access in order to overcome these challenges. Now-a-days, they used to publish their news content through online. Several news cover ages including sports news, political news, and entertainment and art news are being available for free to the each and every online reader. The journal has able to attract the focus of potential target segment to the organization website by providing niche news contents. Reason behind Declining Circulation and Revenue An external and internal assessment has been developed in order to reveal the reasons behind declining revenue and circulation of newspaper publication organizations. External assessment This part will implement PESTLE and Porter’s five force model in order to determine the external assessment. PESTLE Analysis PESTLE analysis will determine the impact of political, social, economical, legal, technological and environmental factors on the newspaper publication industry in US. Political Several political parties are influencing and providing money to online sources. Moreover, they are not supporting the newspaper publication companies. Economical Recent recession has affected the buying behavior of customers. Due to low disposable income, people are shifting towards online news contents. Social, Cultural and Demographical Current social trend towards the online news sources, reduced women subscribers and availability of advanced