The Washington Post was having financial difficulties for a variety of different reasons such as rising levels of competition in the news market, lack of product innovation, rising subscription prices due to inflation, newspaper’s failure to capitalize on the growth of digital advertising, the newspaper inability to keep up with the rapid pace of change in the news industry, and the inability to keep up with the level of news coverage and the speed that other digital sources were able to give.
Some of the alternatives that can solve its problems are as follows:
Focus on development of new product’s
Increase marketing efforts
Implement cost-saving measures
Now that I have identified the alternatives, help me determine the cost, risk, and sales growth of the mentioned alternatives. Include a reference if needed.
Cost is the amount of money needed to implement the alternative. Include the amount that you have researched and include a citation.
Risk is the negative effect of implementing the project.
Sales growth is what will be the effect of the plan to the sales and profit of the company. Include the estimate profit the the company will get for each alternative.
Time is how long each plan will be implemented.
The format should be:
Alternative 1: Focus on development of new product’s
Cost: (answer in paragraph form)
Risk: (answer in paragraph form)
Sales Growth: (answer in paragraph form)
Alternative 2: Increase marketing efforts
Cost: (answer in paragraph form)
Risk: (answer in paragraph form)
Sales Growth: (answer in paragraph form)
Alternative: Implement cost-saving measures
Cost: (answer in paragraph form)
Risk: (answer in paragraph form)
Sales Growth: (answer in paragraph form)
Time: (answer in paragraph form)
Add a conclusion of which alternative is the best based on the criterion.
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