If your product has a short shelf life and doesn’t go through the stages of getting from concept to mass production, you’ll see your competition start to focus on your product and the product of whoever else is already doing the same thing.
In this case, we’re focusing on The New York Times, which doesn’t have the cash of Disney, Disney Ventures, or another media-buying company. Instead, we’re focusing on a company on the edge of mass production: the New York Times. The New York Times has been selling in-house since 1996, selling directly from the company’s website, its own physical store, and its partnership with The Times Magazine. The paper is a little over a year old.
New Times also has several partnerships with the rest of Times’ competitors. (And in some cases even better deals with them. This particular partnership was with The Washington Post, which owns three Times subsidiaries and is not yet involved in The New York Times.) Because they’re already so close to The New York Times, their brand recognition is high, and their customers are used to them being able to deliver, from a physical standpoint, a fast, fresh product in a short amount of time. So it makes sense for them to go after the same audience with a more targeted offering, such as The New York Times: This is going to be a new, more targeted product, right?
And to make this as “niche” as possible, they’re targeting “food” — the New York Times, as it turns out, is the biggest food brand in the world. Their target consumers buy about 6 million boxes of paper every second, and as far as I can tell they’re the same foodie customers who would buy The New York Times for their own newspaper.
We have a few reasons to believe that people are going to spend much more if they’re able to buy The New York Times than they did before. Here are the potential differences between The New York Times and New Times:
There are now two separate print companies. Instead of selling paper directly to the public, they’re partnering with print retailers to sell the paper to individual customers (rather like Amazon, which sells its own Kindle), and then distributing the paper to its customers as soon as possible. This cuts costs by about 60%, and reduces distribution time for the paper, although that’s not nearly as much time for people who have to buy paper in person (people like me who buy on their laptop).
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