Marketing Plan for Book Publisher Essay Example for Free

Marketing Plan for back away for Publisher Essay noesis HubPublishers is a tinr of up-to-the-minute schoolman and look for existent, the outgo literary material in Urdu and English by woodland writers both local and inter field of study. Our customers rest ensure that when they purchase a existenceation of familiarity Hub they receive the optimal value for their cash or as we call it your money well spent. Our domainations argon relax of plagiarism and we endeavor to stay a step ahead in providing academic material which is the almost recently proven by researchers sort of of re-publishing the similar material in a different manner. We be a sole proprietorship and our office is located at Urdu Bazar, Lahore. Being a startup in an labor al ascertainy being served by a ample number of brands, we shall initially tar quiver the Lahore merchandise with intent to move into other cities passim Punjab at bottom 5 years time. Our focus shall remain to continually research and analyze customer unavoidably, wants, reading trends and preferences to ensure that we appropriate only the most needed and desire after intensitys with the latest content. familiarity Hub shall provide its lymph node roots with editing, proofreading, layout and design, promotion and authentication services.Whereas, we shall be outsourcing the printing and distri exactlyion of our word of honors. Our long term focus is to motivate the culture of e- contains and printing on demand in modulate to safeguard our natural re sources for our approaching generations. Print on demand (POD) is a printing technology and seam process in which parvenue copies of a bear (or other document) argon not printed until an ramble has been received, which government agency criminal records can be printed one at a time. Rationale of this convergence supports be priceless source of noesis, wisdom and education the best company in times if solitude.Our affiliation with set asides and knowledge is further promoted by our religion which upgrades us to gain knowledge and preaches us to respect books. In todays flying paced world, where in organizeation and knowledge is continually increasing and modifying, the need for books containing the latest of information argon always required. As soon as a book or article is publishes a stove of evaluation, testing and research on the published material starts which unconstipatedtually leads to modified material ready to be published and the roll continues.This causes a never ending need for high quality books for sale at easy to find touch focuss and at afford subject prices. And this is exactly what we offer our customers as our product. Strategic Focus and Plan direction Knowledge Hub is the premium newspaper of academic and illustrated books, novels, best sellers and e-books in Pakistan. We at Knowledge Hub believe that knowledge is a service to be provided to our nation so that we may progress in t his fast paced world. The place of our affordable and easy to rag products is to ensure overhaulability of knowledge to all Pakistanis who try on for it.Goals Non Financial Goals Knowledge Hub seeks ensure availability of knowledge to all Pakistanis who seek for it. We at Knowledge Hub believe in a cleaner, safer tomorrow and in a Paper Free human being in which our natural resources are savored for our future generations to enjoy. Knowledge Hubs all-embracing website holds the key to a damp tomorrow. Our online e-books, research articles, audio and visual resources provide you easy and flagrant access along with it being environmentally beneficial.Financial Goals We sacrifice betokened to publish 70 books by authors within a years time. Moreover, to a customer hind end of at to the lowest degree 200,000 readers at the end of year one which is approximately 10 percent Market Analysis world-wide Book Publishing Market The worldwide book perseverance has been forecast to exceed revenue of $90 million. The industry recorded yearly growth of 1% over the past four preceding years, and is anticipate to accelerate to a yearly rate of almost 4% between 2011 and 2016.Sales by music, video,books and letter paper retailers repre displaceed the starring(p) segment of the global book mart in 2011, generating more than $50 billion and representing 56% of the overall mart. Pakistan Book Publishing Market Book publication is a business really(prenominal) closely related to the literary scenario since books are nothing if they dont push a publisher or a printer. Like every other thing in Pakistan,the printing industry is with its induce sets of problems the initial ones being the unfavorable socio-economic conditions, overlook of mass education and the development of local languages.Constraints Low Literacy judge The publishing industry in Pakistan is hampered both by a low literacy rate (48%) and the occurrence that the national language, Urdu, is wri tten in the right-to-left Arabic script un similar the official language, English, which is written left-to-right. Pakistan has had its share of poetry and prose writers in Urdu, English and other regional languages. Incentives for Writers Those who dont reproduce practice and are genuinely fire are hardly encouraged. The government, the NGOs and the intellectuals hardly ever comport the initiative to encourage young and buddingwriters of the surface area.These results in most of the young authors getting their works published under foreign publishers. At least they get the recognition they warrant in foreign waters. provided, in that location are a few committed souls who work tirelessly to make a place for themselves in the literature-deprived country. Market Growth The publishing industry has been steady growing despite the many hurdles like the low purchasing power of the masses and the lack of facilities. The principle centers of publishing are Karachi, Lahore and Peshawa r.Lahore stands out with its numerous publishing houses and has been the hub of the industry from the pre-independence era. Even now, getting a book published from Lahore is much easier than elsewhere. Pakistans publishing industry has a lucrative foodstuff for Urdu and ghostlike books abroad. A considerable number of books and periodicals are exported to countries like Malaysia, East Africa and the Middle East. Also, a very extended number of books is imported in Pakistan mainly from UK and USA.The Inter-Media Growth program of Pakistan and USA devote signed an cartel whereby Pakistan can import books and still concede for them in its local currency. Market necessarily In the Pakistan scenario, there is need for up-to-date information visible(prenominal) at affordable prices and easily accessible via easy to access retail outlets and via e-books. Trends The by-line trends are emerging in the publishing industry E-books Online book stores narration clubs Book fairs bustli ng bookshops Print on Demand These trends are discussed in detail in the Opportunitiessection.Customers Analysis pursuance is a detailed description of Knowledge Hubs client authors, intermediate customers and ultimate customers Client Authors Our client authors shall include all local authors who have quality material to offer and who oarlock within in our product range. Intermediate Customer Our Intermediate or trade customers include Wholesaler Book Stores endure Customer Out ultimate customers include 25534400 school/ college going children in Pakistan 1,349,000 university going individuals in Pakistan 57.7 % of our adult population which is literate in Pakistan Needs of the Target Customers Knowledge Hub endeavors to cater to these basic needs of the target consumers schoolman needs Literary/ information needs Entertainment needs Consumer Touch Points Our target consumer shall purchase our product via the following channels Book Stores Knowledge Hub shall have its products available at book stores including academic and literary book stores book shops in schools, colleges and universities. Gift Shops Our books shall likewise be made available on return shops. LibrariesOne of the major sources of contact with the target market are libraries. We shall endeavor to put relations with the local libraries to allow the usage of our products there. Website Our comprehensive website result also serve as a major source of interaction with our customers. Our website will display our catalogue of books and shall provide the viewers with an option to get access to our products in the form of both paper editions and electronic versions on-line. Customers would be able to be direct to bookstores for the paper version and they may send an order directly to us.They would also be able to open up and access an on-line edition instantly by making an online payment. Our website viewers would also be able to opt to receive periodic catalogs of our products online via e-mail. Customer Value Pro survey Like they say A book is mans best friend, Knowledge Hub shall serve to provide its target consumers with books that serve as their best friends in all their walks of life. Knowledge Hub is a provider of latest academic and research material, the best literary material in Urdu and English by quality writers both local and foreign.Our customers rest assured that when they purchase a publication of Knowledge Hub they receive the optimum value for their money or as we call it your money well spent. Our publications are give up of plagiarism and we endeavor to stay a step ahead in providing academic material which is the most recently proven by researchers instead of re-publishing the same material in a different manner. Knowledge Hub believes in a cleaner, safer tomorrow. We believe in a Paper Free World in which our natural resources are savored for our future generations to enjoy.Knowledge Hubs comprehensive website holds the key to a better tomorr ow. Our online e-books, research articles, audio and visual resources provide you easy and instant access along with it being environmentally beneficial. Constraint The long term vision of Knowledge Hub is to provide all of its resources online so that the environment and our natural resources can be saved. However, due to low takes of computer literacy in Pakistan, this is not possible immediately and shall take efforts from our end to promote education and reading so that our country can move forward past its literacy barriers.Competitor Analysis Our competitors include Local Competitors Sang-e-Meel state-supportedations Ferozsons Awesome Publishers connection for academician Quality AFAQ Fact Publications Idara-e-Islamiat Kiran Publications Azeem Academy Publishers Book vendors Hassan Publishers 2 The Point Publishers 7th Sky Publications A to Z Publishers A-One Publishers Adara Talifat Khatm-e-Naboat Adara-Ul-Tahreer Adara-e Saadad Advanced Publishers A. H. Publishers Affa f Publishers Al Raza Publishers Al Quraish Publications Al Mashriq Publishers A. S.Publishers Adabistan Publishers Adan Publications A. N. Publishers Al-Asad Publications Al-Badar Publications Al-Bilal Publishing House Al-Hamd Publications Al-Madina Publications Al-Mezaan Publishers Book Sellers subject Competitors Iqbal Sons educational Publishers Karachi, Pakistan New Century Education Karachi, Pakistan Baitul Qalam Karachi, Pakistan Electronic ledgers of Academic Research and Reviews(EJARR Publishing) Islamabad, Pakistan Library Promotion Bureau Karachi, Pakistan World Trade Publishers Karachi, Pakistan U. S. Publishers (pvt) Ltd. Karachi, Pakistan Children Publications Karachi, Pakistan Jumbo Publishing Karachi, Pakistan 3KBioXML Publishers Pakistan Haripur,Pakistan Strengths of Competitors Our competitors have the following strengths Well established brand names. Extensive market experience. Widely available and accepted products. Strong relations with distributors. Huge chains of retail outlets. Weaknesses of Competitors Our competitors have the following weaknesses Most of them are obtaining very high profit margins. They provide less incentive for local authors. Re-publishing of material similar to the one already in the market.Low on-line presence. Most of them do not have their take in websites. Well established chain throughout Pakistan. Some competitors are also exporting books. Mahwish jam Analysis Strengths Well established relations with authors,editors and media personnel Comprehensive website Up-to-date content of book Our deputation is in itself a strength Weaknesses New brand name thus requiring massive promotion Yet to establish credibility with the target customers Initial focus which is only on the Punjab market Opportunities The emerging trends are opportunities which Knowledge Hub seeks to take advantage ofTime and Technological Advancements Time and technological advancements play a arctic role in shaping the trends ove r the passage of time. As Pakistan is also entering the digital age, traditionalistic distinctions in media become blurred. It can be seen as furthering the book culture. E-books The biggest contribution of the internet in the book industry would be to digitize books and grant them a wider readership. A number of online websites have sprung up in the endure few decades. Quite a muddle of these sites are free and others charge a very nominal fee and provide unlimited access to e-books.They can either be downloaded or read on screen. These obviously have become popular because of easy accessibility and the low cost. In Pakistan,a huge majority of people cannot afford the high-priced pilot light foreign titles. Hence,these customers can download the electronic versions at much cheapers rates. Some Urdu websites have started to offer online versions of books for foreign readers. This helps in promoting ones culture as well as to help the expatriate Pakistanis and is a viable fortu ne that Knowledge Hub can take advantage of.Online Book Stores Closely related to e-books are the online book stores, another wonder of the internet and an opportunity for Knowledge Hub. An extension of the traditional book stores, online book stores give the option to search and read reviews of books, cut back through categories, view the covers, author information, reader ratings and then order these books online. Although they are not free and even charge a shipping fee, its very convenient to search and order books online saving the hassle. Reading Clubs Reading clubs are a breath of fresh air into the dying book culture.There are a number of book clubs/reading clubs online and offline. People sit and discuss their favorite books or hardly talk about what they are reading these days. Readers Club is an exemplary example is of a Readersclub at the University of Karachi, which is moderated by a teacher who is Lecturer at the Department of the International transaction. This is also an opportunity that Knowledge Hub seeks to avail in the future. We plan of starting our own reading club in different cities throughout Pakistan to encourage the reading culture amongst the people of Pakistan.Book Fairs The first International Book Fair was held in Karachi and Lahore last year at the expo centre and it was well received by the public at tumid despite the fact that all the books were originals and were highly priced. Knowledge Hub also seeks to participate in such book fairs at both national and internationalistic level in the future. Mobile Bookshops The concept of a Mobile Bookshop was first used by the Welcome Book port some years back. Recently, Oxford started its own mobile book shop and it has been touring the city for quite some time now.Set on a truck, with the back converted into a small book shop with shelves and a counter set snugly at the end, the book shop attracted people outside unlike schools and universities. Threats Threat of New Entrants Th e threat of new entrant is always present in our industry and Knowledge Hub shall endeavor to keep track of the latest practices and customer trends and preference in order to stay ahead of our game ahead of competition. Plagiarism some other threat is the problem of plagiarism. That is, either simply copying out whole extracts or stealing the musical theme or characters.Plagiarism is an old problem and a big worry for authors who spend time and money on writing a piece of good writing and then someone else copies it and sells it at a lower cost. Then there are one-time authors who just reproduce material from some international author and make money by claiming it as their own. Incentives for Writers The government, the NGOs and the intellectuals hardly ever take the initiative to encourage young and budding writers of the country. This has resulted in most of the young authors getting their works published under foreign publishers. compensate in Reading Ha procedures There has b een a visible decline in reading habits in last few decades. This can be attributed to a number of factors like television, internet and other means of entertainment. harvesting Market system Segmentation Our initial target market for the first five years of operations includes 10623380 school/ college going children in Punjab 3,683,920 college going individuals in Punjab 3034350 individuals going to universities or acquiring diploma in Punjab Literate individuals above the age of 25 in Punjab This overall customer base has been divided into segments on the following basesStep No. 1- Geographic Segmentation As of now we are catering to the consumer base in Lahore. Step No. 2 Segmentation on the Basis of Consumer Age and Needs From within this customer base our market is further divided into the segments on the basis of the ages and needs of the different customers. Books needs of consumer start out with age and needs such as academic, literary, entertainment or information, etc. Hence we have divided our Lahore consumer base into the following segments Children below the ages of 10 for their academic, literary and entertainment needs.Children between the ages of 10 18 who seek to cater to their academic, literary/ information or entertainment needs. Individuals between the ages of 18 25 who seek to cater to their academic, literary/ information and entertainment needs and for research purposes. Individuals and professional from the ages of 25 and above for their academic, literary/ information and entertainment needs and for research purposes. Targeting Knowledge Hub is provider of books to all the mentioned segments.The reason being that the market is already filled with book publishing brands that have had their names recognized and sought after. If we chose to cater to a narrow segment, chances would have been that our brand would not have attained quick popularity in the overall Lahore Market. Hence, Knowledge Hub is catering to all these segments. W e shall target the abovementioned segments with the following products Academic books for indigenous level Academic books for secondary level Academic books for university level Illustrated books Novels Best SellersOur focus shall remain on the publishing of quality and up-to-date material. stead Knowledge Hub will position itself as provider of latest academic and research material, the best literary material and best sellers in Urdu and English by quality writers i. e. both local and international. Knowledge Hub endeavors to position itself as a provider of high quality material at affordable prices. Brand make believe Knowledge Hub represents the firm as being a provider of various different sources of knowledge, be it academic or in the form of beautiful pieces of writing to enrich our minds and groom our personalities.Marketing Mix Product Our products include Academic Books for Primary Level These further include English and Urdu language, mathematics, science, general know ledge, geography, national and international history, Islamiat, friendly studies and arts and crafts. Academic Books for Secondary Level These further include English and Urdu language, advanced mathematics, biology, chemistry, physics, geography, national and international history, Islamiat, social studies, sociology, business studies and arts and crafts.Academic Books for University Level These further include books for business studies, information technology, social sciences, media studies, engineering, commerce, law, pharmacy and medicine. Illustrated Books These books include books on history, local and international cultures, wildlife, politics, etc. Novels These include prices of writing by local, national and international writers. Our focus always remains to ensure that only quality material which does in fact impart some type of knowledge or provides quality entertainment and grooming to the readers.Best Sellers This kinfolk includes the best selling stories and novels o f todays age and over the decades. E-Books All of our publications shall be available online in the form of e-books. Price High Value but Varying Purchasing Power of Consumers Books are of horrendous value to readers. Readers of the same types of book belong to drastically varying income levels. Competitors Pricing The prices that prevail in the market are not rigid. It an original book is priced high its copy is prices at very low prices. Our competitors vary in terms of their size, market shares and prices.Consequently their prices also vary. Some competitors are charging premium pricing with ugly profit margins due to attractive designing, book cover and page and printing quality. Penetration Pricing Strategy Since the purpose of the creation of Knowledge Hub is to ensure availability of knowledge to all Pakistanis who seek for it, we use keenness pricing strategy. Knowledge Hub believes that knowledge is not a product to be sell but a service to be provided to our nation so t hat we may progress in this fast paced world.Knowledge Hub has priced its products so that they are easily purchased by the masses. Knowledge Hub will use penetration strategy to penetrate in the market which is already filled with numerous providers. Knowledge Hub has made a point to publish original books at affordable prices and only attain profits capable to achieve our vision of making knowledge accessible to all. The attainment of our vision requires periodic expansions first with in Punjab then throughout the country.Since, Knowledge Hub is a sole proprietorship the profits shall be retained and reinvested in the expansion of the business. Knowledge Hub has priced its products a bit cheaper and more affordable as opposed to its competitors while maintaining high quality in terms of designing, book covers, page material and printing. We strive to position ourselves as the provider of high-quality material at reasonable prices. The prices of our products shall fall in the foll owing ranges Sr. No. Product Line Price Range (Rs).1 Academic Books for Primary Level 200 500 2 Academic Books for Secondary Level 250 800 3 Academic Books for University Level ccc 1200 4 Illustrated Books Up till 1500 5 Novels 200 1500 6 Best Sellers 300 1800 7 Primary Level Academic E- Books 150 400 8 Secondary Level E- Books 150- 650 9 University Level E- Books 200 850 10 Illustrated E- Books Up till 850 11 E- Novels 150 900 12 Best Seller E- Books 200 1000 Price Sensitivity of Customers In the Lahore market, the customers are highly price sensitive. The customers shall most volitionally opt for a provider of quality books at low prices.Distribution Strategy Our office shall be located near Urdu bazaar, Lahore. Our products shall move from us to our distributor who will supply our books to retailers and from these retailers our books shall reach our consumers. Our distribution earnings is as follows Distributors Since book stores no longer order directly from most publishers and prefer fewer vendors and speedy service. We shall enter into a contract with our distributor and allow us to reach the book trade (independent bookstores, chain bookstores, wholesalers and libraries) is with a distributor.Our Distributor will have sales reps who visit book stores and libraries, show your book catalogs and take orders. We shall use the following touch points to provide our products to the target market Book Stores Our products shall be made available in book stores throughout Lahore. Initially our books shall be available at the following book stores defence Book Store Readings Classic Book Store Ferozsons Kitabistan Liberty Books Readings The Last Word Variety Books Books pious platitude and Gift Shop Ravi Book Store Mavra Books.Libraries We shall also have our books placed in the following libraries throughout LahoreQuaid-e-Azam Library Environment Data Resource Centre (EDRC) Defence Public Library Complex Punjab Public Library Atomic Energy Minerals Centre Library Islamia College Library, Islamia College Government College Library, Government College University Lahore University of Management Sciences Library, Lahore University of Management Sciences National Library of Engineering Sciences Dyal Singh Trust Library Provincial Assembly of the Punjab Library, Lahore Peoples Bank Library, Lahore Pakistan Administrative Staff College Library, Lahore The Ewing archives Library Babar Ali Library Atchison College, Lahore Punjab University Library, Lahore Dr Baqirs Library, Lahore Gift Stores Gift stores will also be a touch point of Knowledge Hub.It is often noticed that people gift good illustrated books, novels and best sellers as gifts on various occasions. Hence placing our products in gift stores shall cause an increase in the number of sales and the popularity of our brand name.Places like Illusions will serve as an ideal place for placing our products. Gift Baskets We shall also enter into mutual agreements with gift shop owners to form gift handbaskets which will include different items to be placed in the form of a gift basket and including one of our books. An example of this can be a pen/ a diary or note pad along with a small teddy bear and a novel or best seller placed in a beautiful gift basket and covered with a net and tassels. Fiction and Poetry BooksFiction and poetry can be sold better in gift stores as opposed to book stores. Website Knowledge Hub shall maintain a comprehensive website containing electronic versions of all its books. We will use this website to display our catalogs of books and to sell those books in both paper editions and in electronic versions on-line. Customers would be able to be directed to bookstores for the paper version and they may send an order directly to us. They would also be able to unlock and access an on-line edition instantly by making a online payment. Our website viewers would also be able to opt to receive periodic catalogs of our products online via e-mail.r etail Outlet By 2014, we plan to open our own retail outlet in H englut Defence with the name of Knowledge Hub. Our outlet shall contain all of our publications. Tahira Promotion Strategy Knowledge Hub will use the following promotional techniques to promote its products Newspaper and Magazine Advertisement Knowledge Hub shall have the following print advertisement placed in the newspapers and magazines including Sunday Times, Zarnigar, Weekly Pulse,Pakistan Textile Journal Magazine ,Herald ,Defence Journal Magazine (DJ),etc. Book Promotion Knowledge Hub will use tools like book reviews, news releases and a limited amount of highly targeted direct mail advertising.Book reviews and news releases result in free (editorial) publicity while direct mail (Postal and email) delivers your sales message directly to effectiveness customers. Book Reviews Book reviews are editorial copy that is far less expensive and much more credible than blank advertising. The huge number of magazines, n ewsletters and newspapers columns that are in the market will receive review packages. These reviews will be published for the trade wholesalers and bookstores and libraries. These reviews tell the trade what is coming so they can order the books before the public reads the post-publication reviews in the popular magazines and newspapers. News ReleasesWe shall follow the review copies with news releases and articles every month to the very same magazines, newsletters and newspapers. These news releases allow opinion-molding editors know what you are doing and why your book has the information their readers need. Direct Mail denote Direct mail advertising of our catalog and books will provide us with the opportunity to get our fill out sales message to a specific potential buyer. Our mailing list for direct mails shall remain discriminating and include only our main buyers. Broadcast E-mail to Main Buyers This method will is even better than direct postal mail and eliminates print ing, stuffing and postage while getting a quick response.Knowledge Hub will assemble email addresses from customers and potential customers and alert them pertaining to our books. tuner TV Interviews Radio/TV interviews are an easy way to have the masses asking and searching for an upcoming book. Knowledge Hub shall coiffe intercommunicate and television interviews of authors hose books are about to be published with us. If the book gains popularity so do we. Radio and television talk shows need interesting guests to attract listeners and viewers. Most people feel that authors are experts and celebrities, so most of the guests booked on such shows are authors. While advertising products on the air is expensive interviews are an editorial matter. People listen to editorial matter.Interviews are more effective than advertising and they are free. Hence, they will serve as an inexpensive way to sell our books. Autograph Parties Knowledge Hub will arrange autograph parties or book si gnings in our client bookstores, both chain and independent to draw potential customers into their stores. Best Sellers Knowledge Hub will endeavor so that its books are labeled as bestsellers. This would drastically ameliorate our brand image. Book fairs Knowledge Hub will organize book fairs are where publishers traditionally show their books but there are several different kinds. There fairs will be for bookstore buyers, libraries, the general public and so on.Initially these book fairs will be local but they will be replaced with book fairs in other cities as our business expands. Specific Category Promoting From time to time Knowledge Hub shall also indulge in specific category book promotion. Where we shall promote our different products like childrens books, illustrated books, etc in schools, universities, etc. Audible Books Some of our potential customers may commute or travel a lot and hence will not have time to read our book. This constraint can be overpower by forming audible books. E-Books One of the very rapidly emerging trends in the book publishing industry is that f electronic books. Knowledge Hub shall take complete advantage of this means of reaching to the targeted audience. Public RelationsKnowledge Hub will endeavor to maintain good relations with the distributor, retailing chains,gift stores, editors who write book reviews and leading authors. Sales Promotions Knowledge Hub will provide sales promotions to retailers and libraries such as books at discount prices when purchased in huge bulks to motivate them to purchase our products and help the company penetrate into the target market. Implementation Strategy Our primary function as book publishers is to procure books and make them available for sale. Procurement of books will involve soliciting and accept marketable manuscripts, contracting with the author for selling rights, and getting them copies printed and distributed.The selling of our books will involve making contacts with ind ustry retailers and distributors, and selling directly through your own website. We shall make a percentage of each sale and pay the balance to the author. Operational Plan For works written independently of the publisher, writers shall first submit a research letter or proposal directly to a literary agent or to a publisher. Submissions sent directly to a publisher are referred to as unsolicited submissions, and the majority come from previously unpublished authors. We shall accept these unsolicited manuscripts, and place it in the slush pile, which our readers will sift through to identify manuscripts of sufficient quality or revenue potential to be referred.