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Mission and Vision Unmads wacky culture through the times has solidified its position as a relatable publication by readers, writers and animators. Profit maximization has never been a key goal of its owner and editor.
However, sales maximization of the company to collect a wider readership is a necessary to steady the wobbling-if-not-precarious balance sheet. Hunting out new markets abroad among Bangladeshi expatriates is a strategic task. The target markets penchant for veering away from print is to be exploited by online sales and merchandise. Unmad will entertain. Its refuses to travel the well-worn path of political satire, but everything else is up for banter.
The readers maximal satisfaction is ensured by close attention to detail.
The refreshingly familiar themes connect the writers and animators with the youth, some of which may decide to join the magazine in time. The organization must have a flat, open structure to encourage new, exciting content. In the five years, Unmad will enter its 40th year running. Steadying the finances by charging into new directions is a practical step, with advertising, merchandise sales and annual events leading the way.
The management of the company reluctance to change a working model is unlikely to bode well. How will Unmad integrate capable leadership and business acumen into the culture necessary to nourish the creative, informal band of cartoonists? It is time to profit from the unique brand that Unmad has become, while consolidating its image for the new affluent middle class.
Objectives To capture the largest circulation both online and offline is to be complemented by a newfound rediscovery of the potential of advertisement and product placement, associated merchandise sales of Unmad paraphernalia , and annual events including training workshops, public exhibitions and fan festivals. The magazine will not just be a for-profit venture, but a breeding ground for upcoming artists and journalists and an open platform for empowering Page Marketing Plan for Unmad readers with progressive, apolitical philosophy without jargon.
Entertainment that actually is fun will be delivered to the customers. Products and Services Offered If there are lines that differentiate between the essence of a product and a service, the company does not fret.
Shoe-horning the company into categories ignores the charmingly chaotic nature of its offerings. Although the core creation has always been the magazine itself, by-products have become important. Traditionally the company has trodden a product-oriented path as tangible artifacts, especially the black-and-white newsprint publication, has shown. In the first twenty-five years of the magazine, the management shunned advertising deals and product placement opportunities to focus on increasing circulation.
While circulation peaked in the mid-nineties, the expansion of the entertainment industry led the business onto new directions as piracy online and prejudice of the targeted youth against print publication caused sales to fall steadily.
Sales of e-magazines online and on mobile phones have been irregular, which has to restart. Now the loyal subscribers still pay for the magazine, but rising costs in paper printing and wages of graphic designers are countered by advertisement.
The erstwhile subscribers are then the asset the business sells to advertisers, turning the magazine into a service. However, the management is not actively looking into advertising as a silver bullet to keep the magazine afloat, as Unmads rapport with the customers may be negatively affected. There is reluctance among firms to link-up with a satirical publication for a mistaken perception of triviality.
UnmadProducts is an initiative to cash in on Unmads reputation through merchandise such as T-shirts, mug, stickers, caps, wall-clocks, etc. Sales are satisfactory, and the customers come in over and over. In conjunction with bKash for mobile users and credit card companies such as VISA to facilitate online transactions, UnmadProducts has started to sell on its website.
Fans living abroad, and from other cities in Bangladesh, especially Chittagong and Khulna, marked their appreciation. The high margins on these products make merchandise sales an attractive option to cure financial woes. Unmad trains budding cartoonists via workshops every quarter. This not only brings in admission revenues, but also helps to bring in new talent into the publication. The longevity of the publication means that employee turnover is inevitable, and new writers and cartoonists bring new ideas which resonate with readers.
Unmad magazines celebrates the Ekushey book fair every February where loyal subscribers come in to collect yearly digests of the magazine while new subscribers are hooked into the monthly. The stall helps to keep the target market secured against rival publications. Cartoons posters have in the last year been sold in the Unmad Cartoon exhibitions as legitimate works of art.
To the surprise of cartoonists, the cartoons fetched high prices among customers. The exhibitions are projected to be an annual event. Unmad has allied with animators and cartoonists to deliver animation and games in the coming years. Organizational Structure Page Marketing Plan for Unmad To design an effective marketing policy for Unmad, it is helpful to take a look at the organization itself. As the owner himself is the editor, it is an advantage that no conflict-ofinterest arises between the management and stakeholder.
However, marketing is not an allconsuming affair at the publication, which entices humorous content through a relatively flat structure and generous policy on regulations. The open-ended culture cannot be harmed by monetizing strategies. Office Culture Unmads content arises from an informal collaboration between employees, free-lancers and the management.
Themes are often related to the buzzwords of youth today, for example, the January issue will look into the Hay Festival. It is necessary to keep in mind that content creators resent as much as the fans efforts to commercialize Unmad.
This means that Unmad cannot properly be a business entity alone without driving away rich sources of writers and readers. Readers are encouraged to write themselves. Every month, the two main groups, Idea-people and Cartoonists brain-storm ideas and imagine artwork for the magazine.
These two collaborate with the input from readers and free-lancers to organize coherent themes in a chaotic organizational climate. Management and Leadership The editorial office, which collates content, is spatially separate from the business entity, which handles accounts. The only long-time employee takes charge of finances, who apparently graduated from arts.
Similarly, the editors are often experienced artists rather than trained managers. This means that the management is in close contact with cartoonists and writers, which explains why Unmad happens to be relatable through these years without growing stale.
The management of the company has been resistant to changing the approach to a more business-like model; yet it may be possible to for the culture that fosters creativity to co-exist with sensible marketing policies. Unfortunately, this means that Unmads marketing and distribution is neglected in favor of designing of the magazine.
Piracy is looked at liberally. The marketing efforts seem to be until now haphazard in fashion, which has now been tasked for the next five years. To protect brand image and keep writers and readers interested, the leadership has to prepare for drastic change in the near future. This includes the more pro-active effort to market to advertisers, an emphasis on merchandise sales through UnmadProducts, and annual events such as training workshops, book fairs and cartoon exhibitions.
Other Stakeholders The marketing plan has to be palatable to hawkers in charge of distribution and printers. This means the pricing strategy has to be designed with these partners in mind. The mostly apolitical nature of Unmad has avoided the glare of governmental regulation. However, marketers have to woo advertisers into the magazine to correct misconceptions they have about the potential of the magazine.
Socially responsible projects, such as tree plantation, of the company have significant appeal among the target market and can heighten positive image. Page Marketing Plan for Unmad 3. Situation Analysis 3. Market Summary The market for humorous publications is rather small.
The company has effectively a monopoly position in its strictly-defined market monthly satirical magazines.
However, competitors delivering similar content in the wider market exists, although without as reputable history as Unmad publications. Weekly supplementary magazines delivered with newspaper dailies free-of-charge may have a glossier sheen, but the brand of Unmad has pulled it through. The one other monthly newsprint periodical, Mystery Magazine caters to the same target market with different needs. Unmads is distributed to newsstands and hawkers through auto-rickshaws and delivered to the doors of its regular subscribers.
Unmad merchandise, designed by the creative employees at the company, is in a competitive market with a unique, trend-setting position.
Events organized by Unmad are well-attended in Dhaka thanks to its local fans. Target Market Demographics The publication has always been geared towards the youth. The youth has supplied Unmad with its writers as well as readers. However, the marketing plan has broadened the target market to include Bangladeshi expatriates living abroad who were fans of Unmad in its heyday in the nineties.
The average age of the Unmad reader is around eighteen. The demographic is held as the core subscribers; however readers as young as fourteen to as old as twenty-six are engaged to buy the magazine from the newsstands with regular frequency. Bangladeshi expatriates being targeted are in their mid-thirties, although as Unmad fans they can claim to be young at heart!
The life cycle of the traditional Unmad readers falls into the young student category. Pricing the magazine without digging too deep into their pockets is recommended. The high-margin sales of Unmad merchandise and special edition magazines will happen during Eid and Puja festivals, when financial burden of the customer is lessened. The minimally priced magazine is in the reach of most income groups.
Unmad has always been cheap the first issue was bought at 3 Taka. Education of the target market requires only literacy. Unmad has been, and will be, a Bangla magazine for the middle-class student, and does not tax the vocabulary of the reader. The reader is psychologically prepared to be affected by advertisements in the publication, as they are relaxed and attentive.
Nearly half the sales of Unmad happen at Dhaka. Readers at the capital are also able to buy from the UnmadProducts show-room, train in Unmad workshops, and participate in the public exhibition and book fairs in the city. UnmadProducts franchises at Chittagong and Khulna are the next step in boosting merchandise sales, as readers from these southern cities buy most of the other half of circulation.
Bangladeshi expatriates cannot at the moment order in the magazine from cities like New York in the United States and London in the United Kingdom.
As soon as online sales of the e-magazine are Page Marketing Plan for Unmad implemented, the customer base will be significantly strengthened by the relatively affluent expatriates. Market Trends Compared with expensive imported magazines, Unmad is all but free.
Serving printoriented young adults and teenagers with entertainment, the magazine has failed to keep up with the times in all but content. While its creations are certainly not obsolete, the habits of the touchscreen-friendly teens and the relative decline of the print media have called for putting online e-magazines that cater to a less-attached customer. As the array of entertainment opportunities television, movies, newspaper, the Internet, games competes for the readers attention.
Satirical humor now exists for free online. Significant gains have been made to capture online social networks such as Facebook. Unmad has over , fans on Facebook, while UnmadProducts has a 40, following as well. Most of the two million mostly young Bangladeshi Facebook users are reachable through the online advertisement, which comes cheaply and efficiently. Unmad content and merchandise circulates among online users to serve as feelers to bring in new subscribers.
The fragmentation of the target market has resulted in difficulty in creating magazine content. Themes that pander to all subscribers are more difficult than in the past, when the monopoly of entertainment opportunities ensured everyone watch the same drama being poked at.
On the other hand, the customers of UnmadProducts have been a result of the new outlook in consumption tastes and patterns. Costly printing and paper costs denies the opportunity to turn the magazine into fourcolor pages like most of the weekly supplementary free magazines. The retro feel of the publication can be enhanced through clever design in the details. Market Needs and Growth Unmad fans are difficult to satisfy. The magazine is asked to be continually updated, funny, content-rich and low-priced.
The publication is looked at by everyone as a trendsetter in humor and satire. The emphasis on current affairs means that writers have to be on the lookout for news and views of the youth. Novelty and surprise is expected by the reader.
The magazine have often opted for innovative designs, such as turning the cover page into a door through splitting down the middle, cutting half of the cover due to expensive paper, upturned roll-over cartoons, origami puzzles, etc. While these may not be cost-conscious decisions, innovation is what tempts the reader to buy the next volume.
While the niche market has little wiggle room, the capacity of the market for further expansion is only limited by the digital divide. The soon-available e-magazines are hampered by the unavailability of reliable online transaction mechanisms. The emagazines will be available for the mobile internet users in particular.
Sales of the magazine in print format can even be surpassed by online editions.
Another barrier is the rampant pirated scanned copies of the magazine offered freely online. Copyright infringement is difficult to prevent in the current scenario. Competitors Ten years following the inception of Unmad, the first competitor arrived.
Edited by Harun Ur Rashid, Cartoon was published on and off for ten years before bankruptcy. Rivals such as BanGo , Angul , and Lokjon have too sunk in the sands of time. Weekly supplementaries such as Rosalo by daily Prothom Alo and Ghorar Dim from the daily Kaler Kontho have been four-color small magazines. The disposable nature of these, with four publications each month as opposed to a single Unmad, suggests that these are not direct competitors.
As such, Unmad is on a league of its own. Overseas competition, such as the original MAD magazine, is not a factor at play in the market. SWOT Analysis The key strength of the business is in its reputation as a quality publication in the monopoly market.
This brand image can be leveraged through the three-pronged marketing strategy of online sales, merchandise offering and annual events. The culture that allows for the creative employees to take initiative and suggest innovations deserves to be called an asset. The weakness lies in the management resistant to commercial measures.
The leadership has to bring in marketing resources to help with the five year marketing plan for it to be effective. Innovative outlook of the company will break it out of financial instability. Opportunities to profit from the Bangladeshi expatriates abound. Online sales of e-magazines and merchandise will be appreciated among the nineties kids.
Annual events can be expanded into other divisional cities, especially Chittagong and Khulna.