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Strategic Planning at The Chronicle Gazette

Introduction

At first glance, the faith of the publishing industry seems unlikely to suffer the same way as was felt by the music industry due to the introduction of new technologies. Music industry was completed transformed due to the introduction of technologies like iTunes, which enabled users to buy and listen to their favorite music without the need of going to a music store and buy the whole album. There are few indicators that show that paper newspapers might be able to keep their value intact for customers at least for the time being. But recent research conducted by Bain & Co. across six countries including USA, Japan, Germany, UK, South Korea and France showed that there was an increase in the reading time spent daily when these readers had access to digital readers. This is not weird news for newspaper publishers, and they need to rethink their business model and strengthen the relationship amongst themselves. Internet has changed journalism and now journalists are required to create and then package the news for multiple platforms. A decade ago, a journalist might have to write a story once and sent it for publishing, but nowadays they have to write a modified form of the story for the online edition.

The Chronicle Gazette is amongst the leading newspapers in the US with the number of circulation reaching a number of 225,000 customers. The Chronicle Gazette has been facing a decreasing trend in its customer subscription like many other newspaper publishers in the US. This is mainly due to the emergence of internet and the frequency with which news are updated on the news websites. This is led to a shift in the focus of advertisers who now consider publishing their ads on the internet rather than the traditional way of printing them in the local newspaper. This has led to a decrease in the advertising revenues for the newspaper industry. This situation is made even worse due to the fact that the prices of the newspaper had been increased due to an increase in the cost of raw material.

The aim of this report is to perform a thorough analysis of the newspaper industry in the US and provide insightful information regarding the current and future prospects of this industry. It would help us understand the reasons that have led to the decline in this industry and identify areas of improvement specifically for the Chronicle Gazette. To achieve this objective, there would be an analysis of various internal and external factors that have led to its demise and provide recommendations to equip it with the resources and skills needed to excel in the current and future.

Industry Overview

There are around 1,400 daily newspapers and thousands of community papers that are published in the United States. These publications are published on daily, weekly and monthly basis. There are around 2000 companies in the United States who are engaged in the publishing and circulation of newspapers. The top three ...