Marketing Plan for Book Publisher Essay Example for Free

Marketing be after for contain Publisher Essay knowledge HubPublishers is a provider of latest academic and research material, the best literary material in Urdu and English by spirit writers both local and inter stateal. Our customers relaxation method sure that when they purchase a publication of friendship Hub they receive the optimum value for their money or as we call it your money well played out. Our publications ar free of plagiarism and we crusade to stay a step ahead in providing academic material which is the most recently proven by researchers alternatively of re- issue the same material in a different manner. We are a sole proprietorship and our office is located at Urdu Bazar, Lahore. Being a startup in an effort al analyzey worldness served by a huge number of brands, we shall signly target the Lahore market with intent to move into other cities passim Punjab within 5 yrs time. Our focus shall remain to continually research and analyze customer com pulsions, wants, edition trends and preferences to ensure that we provide only the most required and sought after prevails with the latest content. knowledge Hub shall provide its client authors with editing, proofreading, lay push through and design, promotion and authentication services.Whereas, we shall be outsourcing the printing and dispersal of our retains. Our long term focus is to instigate the cultivation of e-books and printing on demand in stage to safeguard our ingrained resources for our future generations. Print on demand (POD) is a printing engine room and contrast process in which new copies of a book (or other document) are not printed until an order has been received, which means books can be printed one at a time. Rationale of this Product obliges are priceless source of knowledge, wisdom and education the best company in times if solitude.Our affiliation with books and knowledge is set ahead promoted by our religion which encourages us to gain knowl edge and preaches us to respect books. In todays fast paced world, where tuition and knowledge is continually change magnitude and modifying, the need for books containing the latest of information are always required. As soon as a book or article is publishes a chain of evaluation, testing and research on the published material starts which steadytually leads to modified material ready to be published and the cycle continues.This causes a never ending need for high quality books avail equal at comfy to access touch points and at affordable prices. And this is exactly what we offer our customers as our product. Strategic Focus and Plan Mission association Hub is the premium publisher of academic and illustrated books, novels, best sellers and e-books in Pakistan. We at acquaintance Hub believe that knowledge is a service to be provided to our nation so that we may progress in this fast paced world. The purpose of our affordable and easy to access products is to ensure availab ility of knowledge to all Pakistanis who seek for it.Goals none fiscal 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 report Free valet de chambre in which our natural resources are savored for our future generations to enjoy. Knowledge Hubs comprehensive website holds the key to a better tomorrow. Our online e-books, research articles, audio and visual resources provide you easy and instant access along with it being environmentally beneficial.Financial Goals We deport targeted to publish 70 books by authors within a years time. More over, to a customer base of at least 200,000 readers at the end of year one which is approximately 10 percent Market summary International Book make Market The worldwide book industry has been forecast to exceed revenue of $90 billion. The industry recorded yearly harvest-home of 1% over the past four preceding eld, and is expected to accelerate to a yearly rate of almost 4% between 2011 and 2016.Sales by music, video,books and stationery retailers represented the leading segment of the global book market in 2011, generating more than $50 billion and representing 56% of the overall market. Pakistan Book Publishing Market Book publication is a business very closely tie in to the literary scenario since books are nothing if they mountt get a publisher or a printer. Like every other thing in Pakistan,the printing industry is with its own sets of problems the initial ones being the unfavorable socio-economic conditions, omit of mass education and the development of local languages.Constraints Low Literacy Rate The publishing industry in Pakistan is hampered both by a low literacy rate (48%) and the fact that the national language, Urdu, is written in the right-to-left Arabic script unlike the official language, English, which is written left-to-right. Pakistan has had its share of poetry and prose writers in U rdu, English and other regional languages. Incentives for Writers Those who dont reproduce work and are genuinely interested are hardly encouraged. The government, the NGOs and the intellectuals hardly ever take the initiative to encourage two-year-old and budwriters of the country.These results in most of the young authors getting their deeds published under inappropriate publishers. At least they get the recognition they warrant in foreign waters. Yet, there 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 steadily 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 Peshawar.Lahore stands out with its legion(predicate) 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 market for Urdu and religious books abroad. A considerable number of books and half-yearlyals are exported to countries like Malaysia, East Africa and the Middle East. Also, a very large number of books is imported in Pakistan chiefly from UK and USA.The Inter-Media Growth program of Pakistan and USA hit signed an agreement whereby Pakistan can import books and still pay for them in its local currency. Market needs In the Pakistan scenario, there is need for up-to-date information available at affordable prices and easily accessible via easy to access retail returns and via e-books. Trends The look outing trends are emergent in the publishing industry E-books Online book stores Reading clubs Book f denudates Mobile bookshops Print on Demand These trends are discussed in detail in the Opportunitiessection.Customers abbreviation Following is a detailed description of Knowledge Hubs client authors, intermedia te customers and ultimate customers Client Authors Our client authors shall include all local authors who contract quality material to offer and who fall within in our product range. Intermediate Customer Our Intermediate or trade customers include Wholesaler Book Stores Ultimate 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 take of the Target Customers Knowledge Hub endeavors to cater to these basic needs of the target consumers academician needs Literary/ information needs Entertainment needs Consumer gather Points Our target consumer shall purchase our product via the following channels Book Stores Knowledge Hub shall pitch its products available at book stores including academic and literary book stores book shops in schools, colleges and universities. break Shops Our books shall also be made available on introduce s hops. LibrariesOne of the major sources of contact with the target market are libraries. We shall endeavor to establish relations with the local libraries to allow the usage of our products there. Website Our comprehensive website allow for also serve as a major source of interaction with our customers. Our website allow for display our catalogue of books and shall provide the viewers with an option to get access to our products in the form of both makeup editions and 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 at a time by qualification an online payment. Our website viewers would also be able to opt to receive periodic catalogs of our products online via e-mail. Customer apprize Proposition Like they say A book is mans best friend, Knowledge Hub shall serve to provide its target consumers with books that serve a s 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 external.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 free 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 tomorrow. Our online e-books, research articles, audio and visual resources provide you easy and instant access along with it being environmentally beneficial. Constrai nt 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 levels 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 Publications Ferozsons Awesome Publishers Association for Academic Quality AFAQ Fact Publications Idara-e-Islamiat Kiran Publications Azeem honorary society Publishers Book Sellers 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 Affaf Publishers Al Raza Publishers Al Quraish Publications Al Mashriq Publishers A. S.Publishers Adabistan Publishers Adan Publications A. N. Publishers Al-Asad Publicatio ns Al-Badar Publications Al-Bilal Publishing House Al-Hamd Publications Al-Madina Publications Al-Mezaan Publishers Book Sellers home(a) Competitors Iqbal Sons Educational Publishers Karachi, Pakistan in the buff Century Education Karachi, Pakistan Baitul Qalam Karachi, Pakistan Electronic Journals 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 project 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 margin s. 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 own websites. Well established chain throughout Pakistan. Some competitors are also exporting books. Mahwish SWOT Analysis Strengths Well established relations with authors,editors and media personnel Comprehensive website Up-to-date content of book Our mission 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 pivotal role in shaping the trends over the passage of time. As Pakistan is also entering the digital age, traditional distinctions in media become blurred. It can be seen as furthering the book cultu re. 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 last few decades. Quite a lot 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 expensive original 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 opportunity 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 Knowled ge Hub. An extension of the traditional book stores, online book stores give the option to search and read reviews of books, browse 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. on that point are a number of book clubs/reading clubs online and offline. People sit and discuss their favorite books or simply 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 Relations. 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 cu lture 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 large despite the fact that all the books were originals and were highly priced. Knowledge Hub also seeks to participate in such(prenominal) book fairs at both national and worldwide 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 micro book shop with shelves and a counter set snugly at the end, the book shop attracted people outside various schools and universities. Threats Threat of New Entrants The 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 t o stay ahead of our game ahead of competition. Plagiarism Another threat is the problem of plagiarism. That is, either simply copying out whole extracts or thieving the idea or characters.Plagiarism is an old problem and a big worry for authors who spend time and money on writing a erect 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.Decline in Reading Habits There has been 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 cheer. Product Market Strategy 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 parchment 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- geographical 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 vary 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. We shall target the abovementioned segments with the following products Academic books for primary level Academic books for subsidiary level Academic books for university level Illustrated books Novels dres s hat SellersOur focus shall remain on the publishing of quality and up-to-date material. Positioning Knowledge Hub entrust 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 Name 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 ruffle up Product Our products include Academic Books for Primary level These further include English and Urdu language, mathematics, science, oecumenical knowledge, geography, national and international history, Islamiat,social 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 carcass to ensure that only quality material which does in fact impart some type of knowledge or provides quality entertainment and grooming to the readers. crush Sellers This category includes the best selling stories and novels of 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 tr emendous value to readers. Readers of the same types of book belong to drastically varying income levels. Competitors determine 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 wrong of their size, market shares and prices. whence their prices also vary. Some competitors are charging premium pricing with tremendous 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 penetration pricing strategy. Knowledge Hub believes that knowledge is not a product to be sold but a service to be provided to our nation so that 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 penetra te 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 sufficient to achieve our vision of qualification 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 advanceing 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 following 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 300 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 willingly 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 network is as follows Distributors Since book stores no longer order directly from most publishers and prefer fewer vendors and quicker service. We shall enter into a contract with our distributor and allow us to reach the book trade (independent bookstores, chain bookstores, who lesalers 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 form Books Books Bank 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 preference 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 counsel Sciences Library, Lahore University of Management Scienc es 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 Memorial 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 exalted place for placing our products. Gift Baskets We shall also enter into mutual agreements with gift shop owners to form gift baskets 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 puff out along w ith 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.Retail Outlet By 2014, we plan to open our own retail outlet in H Block Defence with the name of Knowledge Hub. Our outlet shall contain all of our publications. Tahira Promotion Strategy Know ledge 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 capableness customers. Book Reviews Book reviews are editorial copy that is distant less expensive and much more credible than space advertising. The huge number of magazines, newsletters 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 tel l 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 place Advertising Direct mail advertising of our catalog and books will provide us with the opportunity to get our complete sales message to a detail potential buyer. Our mailing list for direct mails shall remain selective and include only our main buyers. Broadcast E-mail to Main Buyers This method will is even better than direct postal mail and eliminates printing, 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. Radio TV Inte rviews Radio/TV interviews are an easy way to have the masses asking and searching for an upcoming book. Knowledge Hub shall snip radio 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 evoke 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 tacky way to sell our books. Autograph Parties Knowledge Hub will arrange autograph parties or book signings in our client bookstores, both chain and independent to identify potential customers into their stores. Best Sellers Knowledge Hub will endeavor so that its books are labeled as bestsellers. This would drastical ly improve 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 overcome 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. P ublic 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 throw out 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 achieve books and make them available for sale. Procurement of books will involve soliciting and accepting 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 industry 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 pu blisher, writers shall first submit a query 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.