Research On The Localization Strategy Of Foreign Magazines

Localization is the most popular strategy used by transnational media groups in their process of exploring the markets abroad. However, due to the different nature and self-identification of various media, the extent and method they implant localization varied. This research, based on both quantitative and qualitative studies, aims at finding the localization strategy of Chinese version of Fortune Magazine, and further proposing a possible localization strategy for all foreign magazines on finance and economics. The paper explores the problem from three aspects: the contents of the magazine, the marketing activities and the human resource strategy.The findings of this research are:First, with the purpose of informing the local readers with the international advanced information, in mind the contents of foreign magazines on finance and economics are mostly about international rather than local information.Second, the contents of foreign magazines on finance and economics are consisted of 30 percent of local information and 70 percent of translation contents. This kind of magazine is characterized by broadness international news and the depth of local news.Third, the identity recognition between audience and media is not only the reason for the localization marketing activities of the magazines, but also their purpose. To take advantage of the parent magazine while at the same time integrate local elements is an effective way of constructing "local international brand".Lastly, human resource strategy is the core factor of realizing localization strategy, that is to say, the staff of the media company is one of the most important factors deciding whether the marketing activities could produce resonance in local areas. Managers with international view point, reporters and editors with local characteristics can not only reduce cultural costs, but also speed up culture identity.