Media and Digital Management by Eli M. Noam

Author:Eli M. Noam
Language: eng
Format: epub, pdf
ISBN: 9783319720005
Publisher: Springer International Publishing

9.1 Why Demand Analysis

“Nobody knows anything”.

William Goldman (Oscar-winning screen-writer for the films Butch Cassidy and the Sundance Kid, All the President’s Men, The Stepford Wives, A Bridge Too Far, The Great Waldo Pepper, Marathon Man and The Princess Bride).

Is Goldman, a classic Hollywood insider and guru, correct with his oft-quoted observation that guesswork rules when it comes to understanding and assessing media audiences, their tastes and preferences? In a strict sense, yes. We do not fully know what the users of a new piece of media content (and of media-related technology and platform) want at any given moment, which is why so many media and information projects fail in the marketplace. But perhaps one should define the task more modestly. To be absolutely sure may be impossible, but maybe one can increase the probability a little? To succeed against competitors operating under similar uncertainty, one need not be exactly on target all, or even most of, the time—just a little less wrong than they are. Over time, this leads to a better track record and to success. And this is the subject of this chapter: how media and technology firms can improve the assessment of the demand for their products and services, and thereby become more successful.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.