Mira Case Not
Harlequin’s leading position as the world’s largest romance publisher is unbeatable. MIRA, Harlequin’s proposed single-title program would focus exclusively on women’s fiction. MIRA’s launch would provide the opportunity to continue Harlequin’s history of strong revenue growth.
Risks: * The author’s reputation, the subject matter, the publisher’s decision, insiders’ judgment * If the publisher failed to sell enough books, the losses could be substantial * Orders/sales were not as predictable * Women’s fiction share was just above 5% in North American
Target Market and Products: * Over 100 international markets, more than 23 languages, 20 million readers in North America and 50 million readers around the world * 41-year-old, married, well educated and working outside the home. * Relaxation and escape books * Harlequin: sexy, sassy, and seductive vs. Silhouette Romance: traditional values. * The average retail price of a series novel was $2.60 less than typical single-title novel, and much less than the hardcover titles by best-selling authors. * Guidelines, a consistent finished product, uniformity, standard size and format * Did not generate “best-sellers” * Order regulation and returns could be more easily optimized to maximize the contribution to profits * Focus on women’s fiction
SWOT Analysis:
Strengths (series) * The dominant and profitable producer of series romance novels * A packaged, consumer-good strategy: delivering the expected benefit to the consumer. Win “romance war”, maintain revenue even when the series market slowed * Readers are brand loyal * TV ad, leading women’s magazines * Lower cost * Book club (6/10 sold, half price)
Weaknesses: * Series products were 55% of bookstores * World-Wide Library did not meet the desires of authors: a romance program, a women’s fiction program, or a general fiction program – No market target
Risks: * The author’s reputation, the subject matter, the publisher’s decision, insiders’ judgment * If the publisher failed to sell enough books, the losses could be substantial * Orders/sales were not as predictable * Women’s fiction share was just above 5% in North American
Target Market and Products: * Over 100 international markets, more than 23 languages, 20 million readers in North America and 50 million readers around the world * 41-year-old, married, well educated and working outside the home. * Relaxation and escape books * Harlequin: sexy, sassy, and seductive vs. Silhouette Romance: traditional values. * The average retail price of a series novel was $2.60 less than typical single-title novel, and much less than the hardcover titles by best-selling authors. * Guidelines, a consistent finished product, uniformity, standard size and format * Did not generate “best-sellers” * Order regulation and returns could be more easily optimized to maximize the contribution to profits * Focus on women’s fiction
SWOT Analysis:
Strengths (series) * The dominant and profitable producer of series romance novels * A packaged, consumer-good strategy: delivering the expected benefit to the consumer. Win “romance war”, maintain revenue even when the series market slowed * Readers are brand loyal * TV ad, leading women’s magazines * Lower cost * Book club (6/10 sold, half price)
Weaknesses: * Series products were 55% of bookstores * World-Wide Library did not meet the desires of authors: a romance program, a women’s fiction program, or a general fiction program – No market target