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When The Economist began reporting figures to the Audit Bureau of Circulations in 1982, it printed about 80,000 copies and sold fewer than 8,300 on the newsstand each week.Īs of its last accounting, for the first half of 2010, the magazine sold an average of about 52,000 on the newsstand each week and had a total weekly circulation of just under 823,000. (It has published in Britain, where it has its headquarters, since 1843.) Since the magazine first began printing a North American edition in early 1981, its circulation has increased more than tenfold.
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And I think in the case of The Economist, what theyre doing is adding a little bit of a wrinkle by appealing to a second emotion: competitiveness.Īmericans seem to be responding. People want to get better most of the time. Theyve always implied that if you read The Economist, youll be just a little bit wiser and smarter than the average guy, said Joseph Plummer, an adjunct professor of marketing at Columbia Business School and a former executive at McCann Worldgroup. In the second, the birds head pops up through the ground right under the words Get a world view. In one, an ostrich has his head buried in the ground. The magazines latest advertising campaign in the United States, being introduced in 11 cities with well-off, well-educated populations, includes two slides that riff on the theme of social advancement. One from 2001 said, Look forward to class reunions. Another, from 1988 said, I never read The Economist Management Trainee. The End, read one particularly audacious ad from 2004. Once upon a time, there was an ambitious young man who didnt read The Economist. Their approach has been anything but subtle. But the brand officers at The Economist and the ad-vertising firm BBDO have devised a marketing strategy that makes people think reading the magazine will make them smarter and more sophisticated.
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Selling a publication with a title that conjures painful memories of college social science requirements cant be easy. It took 25 years of clever advertising that tugs at the insecurities and ambitions of the status-seeking reader to help the magazine get there.Ī standout among its less successful peers in the shrinking world of weekly news magazines, the true genius of The Economist, in fact, may have as much to do with its marketing as with its authoritative and often sardonic tone on exotic subjects, like a constitutional referendum in Kenya and the history of the vice presidency in Brazil. The newsweekly, a bible of global affairs for those who wear aspirations of worldliness on their sleeves, did not become a status symbol overnight. Hipsters read it on the subway on their way to work. Its fire-engine-red logo peeks out of fashionable handbags and from the back pockets of designer jeans.