Delivering the newspaper experience: a new paradigm
Bernd H. Schmitt
The EX Group
Columbia Business School
Newspaper publishers today are in an information business that is being rapidly transformed by new technology and media. Yet many newspapers are still trying to compete by offering a remarkably similar experience to what they produced an eon ago in the pre-internet age. If they are to succeed in this new age, publishers need to recognise that the old marketing principles will not do.
Marketing today has changed completely from the old focus on functional features and benefits, rational consumer models, and the 4 P's — product, place, promotion, and price. It has been replaced by a new world of experiential marketing.
Experiential marketing understands that consumers respond to holistic experiences (and not just product features), and that these experiences can be delivered through communications, products, events, online, and face-to-face.