Scholastic’s Marketing Strategy

Evolving a successful marketing strategy depends on an efficacious circumstance analysis, which involves identifying the customer needs, changes in the operating environment, new opportunities, and the capability of the company to live up to these changes. Scholastic weed is one of the leading publishers catering to the childrens segment. With decades of experience in childrens publishing and links with most schools libraries across the nation the company has a great outreach to the student segment compared to other competing publishers.However, some changes in the extraneous factors have clearly affected the companys business in a invalidating way. First and foremost of them is the governments thinning short of school budget allocation, which implied that libraries could no longer afford to spend funds for buying new agrees. This was a drastic blow for Scholastic as the company depended on its elongated tie-ups with school libraries for its regular business. Next, is the sur ge of the competitors such as Simon and Schuster and Houghton Mifflin who are capitalizing on Scholastics inept handling of the changing market situation.These competitors, by their more effective marketing strategies have already started to increase their share in the market, which was previously largely dominated by Scholastic. Scholastic has failed to forge relationships with teachers and management in reaching out to the students. This lack of appreciation of the value of proper human beings relations is another big hurdle in its business interests, oddly when the market seems to be lagging. To be successful under these changing circle Scholastic has to revamp their marketing strategy.Focus should be placed on increasing the literacy interests of the younger generation. Under the strange circumstances that the government is yell about improving the literacy skills of students while at the same time cutting the funding for the schools, Scholastic could put to solid use its extensive connections with schools by actively participating and organizing check fairs and record clubs. An important fact is that book fairs promote book sales and stimulates reading in children, which in treat implies more books sales.Scholastic should sponsor more book clubs, which would help fire the reading habits of the school going children. Thus by co-ordinating and working actively with school management Scholastic could promote the reading interests among children which seems to be jeopardise by the funding cuts by the government. Given that more than 100,000 school book fairs are organized every year around the country, it is plainly writ large that Scholastic should actively participate with the schools in organizing and conducting these book fairs and book clubs.These programs, though, whitethorn involve expenditure on the part of the company, constitute a good strategy which promises a lot in the long-term. Thus, by organizing these book fairs and book clubs wit h minimum or even as a non-profit initiative, Scholastic corporation could actively contribute to promoting literacy interests of children upon which rests the success of its future business.