Social Class & Demographic of My Product

My magazine needs to adhere to the wants and needs of the target demographic. To start I'm going to reiterate what I've already discussed from the research I collected when writing about my Reader Profile I need to take into account a few demographic factors when deciding  Age   - The magazine needs to be age appropriate, the majority young children don't want to be reading about politics and rock and roll, they want to read about One Direction and Taylor Swift, so a magazine needs to establish what age their target market and readership is.  Gender  - Gender is another factor music magazines need to keep in mind when both choosing what sort of products to advertise and choosing content for the magazine, stereotypically woman are more into pop, while men are more into rap and hip-hop - although with the rise of stars like Nicki Minaj, gender is becoming less of a problem when it comes to what content to market to different sexes; but in advertising, it's extremely important to know what gender you're marketing to. For example, a majority of men won't be interested in makeup and beauty products, and a majority of woman wouldn't be interested in aftershave (unless products were marketed as gifts for partners/friends/family). Race  - Stereotypically different races have different hobbies and interests, so knowing the race of the readers can help a magazine to both make sure the content they're producing is something that their readership is interested in, and also know what sort of products to market in their magazine. For example, an advert campaign for foundation may be substantially more successful if the shade of the makeup matched that of the majority of the readers. Sexuality - Sexuality isn't such an important factor in Music Magazines, as gender rolls and acceptable mainstream tastes are becoming increasingly more diverse, but a publishing company may use this to know what sort of products and services to market to their readers. For example straight men wouldn't be very interested in an advert for a gay dating website. Education, Occupation, Annual & Disposable Income (i.e. Socio Economic Grouping of Readership) - Firstly, this shows advertisers what products to market to the readers (luxury/inferior/normal products). It also shows the magazine what sort of content they need to be producing; generally people of a higher Socio Economic Grouping (a/b/c1) or people that are well educated would want to read articles that are more sophisticated, articulate and academic that people of the lower groups, who would stereotypically prefer a different approach to the article. Some other psychographic information about the readership that would be in the Reader Profile that would attract the right advertisers would be: Brand Loyalty Media Interest Current/Desired Lifestyle Buying Habits Culture Product Interests Hobbies It is important for me to know all of this information and for it to be accurate, as if advertisers choose to purchase advertising space in the magazine and their campaign is a flop because they're taking an approach that isn't of interest to the readers, they're not going to spend more money advertising in the magazine. It is important that magazines get repeat purchases from the advertisers in order for them to have a steady cash inflow, it also saves costs when it comes to the magazines actually marketing itself to new and potential advertisers - all together this means more money for the magazine, which is what the publishing companies usually want.  It is also important to study my possible readership because if the content my magazine is producing isn't what the readers want, they're not going to keep reading and buying the magazine - which would cause it to not be able to continue publication. I need to look at two main types of information; Psychographic Information is qualitative data, it is non-statistical characteristics: Personality Values Opinion Attitudes interests Lifestyle That cannot be put into numbers.  Demographic Information is quantitive data, it is statistical characteristics that can be presented as a percentage or number (e.g. age). I have written about how I will use Social Class, Demographic and Psychographic information to tailor my magazine's content in the 'My Reader Profile' section of my blog in response to the results I got from my survey. Price The price of the magazine is actually quite inelastic, people look more at the cover than the actual price, but it is still an important factor that may effect the readership. After completing some secondary research in the form of internet searches and primary research in the form of a survey, I found that the average income for a British family with two adults working is £40,000 a year (Source). The average (midpoint mean) of the respondents of the survey is £55,000, which is £15,000 above average. This shows that the readership would have, on average, more disposable income than the average population, meaning that advertisers of normal (as a pose to inferior) products would be interested in advertising in the magazine, and also the readers would probably be better educated and higher up in Socio Economic Grouping (ABC1). This means that due to the economic laws of income price elasticity, a higher price wouldn't be so bad - and having a higher price would make the magazine more luxurious and exclusive, which advertisers would like as long as we achieve the needed sales. To see what sort of costs other magazines in the industry charge, I did some research and found the pricing of popular music magazines. I was quite surprised by how low priced the magazines were when bought as a subscription - the thing is many magazines want to persuade readers to purchase a subscription so they have a longterm, guaranteed readership - which advertisers love. The magazines can also collect data from subscribers which can help them further understand their demographic. Although these prices are low, magazines like Rolling Stone still charge up to £4.95 (sometimes more) for a single issue. Taking into account the prices of other popular music magazines, the theory of penetrative prices (as my magazine is a new magazine) and the fact that a more expensive magazine would be more exclusive and therefore more attractive to advertisers, I've decided to price my magazine at £2.50 per issue, this means that it is higher up on the scale of pricing of magazines, but it's not ridiculously high, as if it was, no one would buy it. Free Gifts / Prizes Looking at other magazines, I found that popular prizes were So through this secondary research, I found the most popular promotions that magazines offer is free posters, now obviously this is a convention and a proven selling tactic, I think a free T shirt would be more appealing, as less magazines offer this, and it's more valuable. This is also a good way to publicise the magazine, as people would wear the tshirt with the magazines Logo on. When bought in bulk, the t-shirts can cost as little as £2 to produce, and could look something like this: Looking at apparel from the genre my magazine will be looking t (Punk Rock) I think Black is a more suitable colour for the tshirt, as it is more of a conventional colour worn by Punks. Other items of clothing could also be branded and given away as freebies or won in competitions, here are a few ideas: This would be an amazing form of advertising and branding for the magazine and would help increase the readership. A less popular, less costly, but in my opinion just as effective, method of branding coupled with 'freebies' is stickers. Stickers with the magazine logo and possibly a link to the website for the magazine could be great as people like to stick them on their laptops, in their room, on their phone cases, on windows etc. Apple have used this technique for years, giving two to four stickers of the apple logo with every apple product purchased. To state which social class you will be aiming your magazine at. -To state how you will adhere to their needs  -To decide on the price of the magazine -Understand what free gifts/ prizes they would like -How the social class table will help you with your feature stories and target audience.