Harlequin Case Study
Harlequin Enterprises: The MIRA Strategy
Faced with stabilizing growth in the series romance market, Harlequin must launch the MIRA program by focusing exclusively on women’s single title romance novels. By entering the growing single title market, Harlequin takes a capitalistic stance towards the weaknesses exposed in the competitive environment and is able to leverage its existing business model to build upon a well-recognized brand. Acute awareness of the industry forces and Harlequin’s value proposition, as shown in Appendix A, along with tactful execution and adaptation of the core activities will ensure continued strong revenue growth through entry into the single title women’s romance market.
A Capitalistic Stance; Take Advantage of the Weak, Defend Against the Strong
Harlequin is a recognized brand - when readers think Harlequin, they think romance. An analysis of the publishing environment using Porter’s 5 forces, shown in Appendix B, reveals that the women’s single title fiction market is highly fragmented, lacking a truly dominant brand. An opportunistic, and prudent, Harlequin will be most successful in entering the single title fiction market on the strength of the existing bond between Harlequin and romance, as opposed to a diversified entry across all categories of women’s fiction. Appendix C shows that the romance category comprises approximately 50% of the total women’s single title fiction market. Harlequin’s entry into the single title fiction market is unlikely to instigate price wars. The MIRA program launched specifically for women’s single title romance novels will purport a quality read and support the prices in the industry. The Harlequin brand, serving as an aid to entry for Harlequin in this case, will also act as a barrier to entry for other companies once Harlequin is established. Once a reader is hooked on Harlequin, it will be more difficult for less known brands to compete.
Build the Brand; Leverage the Business Model
Detailed
Faced with stabilizing growth in the series romance market, Harlequin must launch the MIRA program by focusing exclusively on women’s single title romance novels. By entering the growing single title market, Harlequin takes a capitalistic stance towards the weaknesses exposed in the competitive environment and is able to leverage its existing business model to build upon a well-recognized brand. Acute awareness of the industry forces and Harlequin’s value proposition, as shown in Appendix A, along with tactful execution and adaptation of the core activities will ensure continued strong revenue growth through entry into the single title women’s romance market.
A Capitalistic Stance; Take Advantage of the Weak, Defend Against the Strong
Harlequin is a recognized brand - when readers think Harlequin, they think romance. An analysis of the publishing environment using Porter’s 5 forces, shown in Appendix B, reveals that the women’s single title fiction market is highly fragmented, lacking a truly dominant brand. An opportunistic, and prudent, Harlequin will be most successful in entering the single title fiction market on the strength of the existing bond between Harlequin and romance, as opposed to a diversified entry across all categories of women’s fiction. Appendix C shows that the romance category comprises approximately 50% of the total women’s single title fiction market. Harlequin’s entry into the single title fiction market is unlikely to instigate price wars. The MIRA program launched specifically for women’s single title romance novels will purport a quality read and support the prices in the industry. The Harlequin brand, serving as an aid to entry for Harlequin in this case, will also act as a barrier to entry for other companies once Harlequin is established. Once a reader is hooked on Harlequin, it will be more difficult for less known brands to compete.
Build the Brand; Leverage the Business Model
Detailed