What is the concept of dual product market?

What is the concept of dual product market?

In the dual-product marketplace that characterizes media, in which content is sold (or given) to audiences and audiences are, in turn, sold to advertisers, audiences occupy the unique position of being the customer in one market and the product in the other market.

Is a newspaper a two sided market?

Newspaper markets are two-sided with both reader and advertiser customers [39]. Arguably, the change in reader and advertiser behavior enabled by new digital technology, as well as new players on the market, has brought important consequences for the newspaper industry.

What products do media companies sell in the dual product model?

Media companies sell two products; the content-whatever it is-is sold to the consumers and the attention of the audience interacting with the content, this is the product sold to advertisers. The second product makes more money-override needs of consumers.

How do media operate in dual market?

What is the meaning of dual pricing system?

Dual pricing is the practice of setting different prices in different markets for the same product or service. This tactic may be used by a business for a variety of reasons, but it is most often an aggressive move to take market share away from competitors.

Is Amazon a two-sided market?

The world’s biggest company, Amazon, is a two-sided market between sellers and consumers. Among some of the other big companies you could name, such as Airbnb and Uber, it’s a common theme with the same model.

What factors determine prices in two sided markets?

Since the platform faces a similar computation on the other side, prices on both sides of the market depend on the joint set of demand elasticities and marginal costs on each side (Rochet and Tirole, 2003, 2006; Weyl, 2009)..

What is dual product in media?

What is the dual factor model of social media use?

Dual-factor model of social use states that there is a need to belong, our natural desire to associate with other people and gain their acceptance. And the need for self-presentation, is our ongoing effort to shape what others think of us.

Which are examples of media convergence?

The most popular examples of Media Convergence are:

• Smartphones (converging camera, music, the internet, books, and all other media together)
• Online Radio (converging radio with the Internet)
• E-books (converging paperbacks with the digital technology)
• News Websites and Apps.

Who are the producers of media?

Media Producers plan, administer and review activities concerned with publishing, or the production of films, television or radio programs, theatre, music, festivals or other artistic activities.

What is dual pricing example?

This system gives goods at lower prices to consumers with less money and goods at higher prices to those with more money. For example, if a consumer has $80 and is looking to buy a new phone, he or she will be given the dual-priced entry-level phone.

What is dual pricing What are its advantages?

Dual pricing is the practice of pricing the same product or service at a different price when it is offered in different markets. When implemented, the organization involved can take advantage of several different benefits which are only available with this pricing strategy.

Is Netflix a two-sided market?

American Express, PayPal, eBay, Uber, Facebook, iPhone, WhatsApp, Netflix, Amazon, and YouTube can all be considered as two-sided marketplaces. These platforms exist because there is a need for an intermediary to match the supply and demand sides of the platform in a more efficient way.

What is 2way marketplace?

A two-sided market exists when both buyers and sellers meet to exchange a product or service, creating both bids to buy and offers (asks) to sell. This can occur when two user groups or agents interact through an intermediary or platform to the benefit of both parties.

What is a two-sided marketplace business model?

Put simply, a two-sided marketplace business model facilitates direct interaction between suppliers and customers, creating value through an intermediary platform. Value is given and received by both the consumer and the service provider.

Who are media consumers?

It includes activities such as interacting with new media, reading books and magazines, watching television and film, and listening to radio. An active media consumer must have the capacity for skepticism, judgement, free thinking, questioning, and understanding.

What is economic convergence in media?

Economic convergence is when a single company has interests across many kinds of media. Organic convergence is multimedia multitasking, or the natural outcome of a diverse media world.

What are the 5 types of media convergence?

The five major elements of media convergence—the technological, the industrial, the social, the textual, and the political—are discussed below.

What are the types of media production?

Types of Media Productions

• Film.
• Television.
• Internet Video.
• Radio.
• Music.