As I was scrolling my feed on Twitter, I noticed this sponsored tweet by one of my favorite magazines, The Economist. Below is my analysis of their sponsored tweet.
The Four P’s
Product: The tangible/intangible product that The Economist is pushing is their magazine subscription. It is both tangible and intangible because the subscription service is not necessarily a good, while the magazine itself is a good.
Price: The Economist is offering their magazine subscription for $1 a week for 12 weeks. This would total the customer $12 for 12 weeks.
Place: The customer would ultimately either get a physical copy or an electronic version of the magazine on a weekly basis.
Promotion: The channel that The Economist chose to utilize was Twitter. They designed the ad to look really nice and appealing. The advertisement also has a buzzword in it, i.e. “nationalism”. The text in the tweet also assumes that I “care about the world”. This was a highly targeted ad.
The target market for this advertisement is the average Millenial in the United States. I know this because of the platform that The Economist is using, the message that they are communicating, and the low price point. All-in-all Millenials are the perfect target market for this ad and it was shown on the perfect platform.
Does It Work?
Yes, this advertisement works. I believe this because of the low price point, first of all. Millennials are inclined to purchase something if they believe that it is affordable and that they are getting a good deal. Secondly, the platform, Twitter, is perfect to hook the consumer that is interested in making an impulse buy. Twitter is known as a “real-time” platform and if a consumer so desires to purchase an item, they can do so in a matter of seconds.