Another means they wield great bargaining power which

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another, means they wield great bargaining power, which at times conditions the chances some companies have to compete and survive. Hence, all aspects of a contract pertaining to a professional’s activities and work are of the utmost importance in this sector. These features borne by the media products cause product operations to be of a more complex nature for a number of reasons, among them is the difficulty in determining the keys for assessing the quality and value of the products and selecting the basic resources (abovealltalent)becausetherearetimeswhenthereisanoversupplyofcreativeambitions and proposals. Although operating a newspaper may seem, in principle, diametrically different to managing a movie project, the gap diminishes when we consider them both as information goods, with multiple purposes and being dependent on talent. KEYS TO MANAGING MEDIA PRODUCTS: FORMAT, QUALITY, PRICE, AND CONTENT LEVERAGE If we consider that the media product attributes are capable of satisfying specific market needs, namely information and entertainment, then as keys to product management, media products are quite similar to other products. Consequently, product management is constituted by making decisions in several fundamental areas: (a) definiing an offer;
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188 RECA (b)settingandmanagingqualitystandards;(c)determiningtheproduct’sinterconnection with price; and (d) making the product available. In the realm of media products, focusing on these basic aspects gives rise to a number of operational challenges that should draw researcher’s attention. Deciding Media Formats Considering the numerous differences that exist among the vast array of media and content, and in an attempt to establish a common denominator for all of them, it could be asserted that contents compete in format markets. In order to be able to determine the position and perception of media products in the market, it is essential to carefully choose the format (type of newspaper or magazine, type of music or film, style of television programming, radio format, etc). We can resort to terms like formats, genres, or types of content in order to identify the differences among products within the same medium, or to establish the categories of content within conventional markets (see how the concept of format is applied in research on the variety of radio offerings, as explained by Berry & Waldfogel, 2001). The concept of format can also be used to analyze the competition of products by theme among various types of media, as in the case of specialized news in the press, radio, and television (Arrese & Medina, 2002). This concept of format, employed to typify and categorize the range of content of- fers, could also be applied by analogy to other features of media product management, especially those related to the different business models and distribution technologies.
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