Marketing Plan For Green Basket-a magazine

Index
Executive Summary............................................................................................................................. 3 About Company .................................................................................................................................. 3 Mission ................................................................................................................................................ 3 Vision................................................................................................................................................... 3 New Product Development: Towards the AIM ................................................................................... 3 Introduction ........................................................................................................................................ 4 Idea Generation .................................................................................................................................. 5 Sources of Idea Generation ................................................................................................................ 6 Screening New Product Ideas ............................................................................................................. 6 Market Analysis................................................................................................................................... 8 Competitive and industry analysis: ..................................................................................................... 9 Key Issues .......................................................................................................................................... 11 SWOT Analysis of Green Basket Magazine .................................................................................... 11 Objectives ......................................................................................................................................... 13 Marketing Strategy ........................................................................................................................... 14 Action Plan ........................................................................................................................................ 16 Summary of magazine: ..................................................................................................................... 16 Product pricing .................................................................................................................................. 18 Promotion and Advertisements of the Product................................................................................ 19 Place .................................................................................................................................................. 20 Budget ............................................................................................................................................... 21 Profit & Loss statement:- .................................................................................................................. 21 STRATEGIES while launching GREEN BASKET.................................................................................... 22 Marketing Strategy: .......................................................................................................................... 24 Control and Evaluation ..................................................................................................................... 26 Contingency Plan .............................................................................................................................. 27 References ........................................................................................................................................ 27

Executive Summary
In the world of digitalization one might not go for print media discarding it as a poor option but one should also keep in mind the increased readership figures which call for new ventures all over again. The project to go for go green concept based magazines we shall explore the hidden opportunities in the target market. For this we have derived a financial plan two which highlights that in near future a firm like ours can not only make profits while being in the print industry but will also help grow awareness about environment and health, simultaneously.

About Company
The company Green Market aspires to upgrade print media while contributing to the nature. A publication shall be launched under this name in order to inculcate the aspects of going green and secrets of good health too.

Mission
Our mission is to provide, to the rational customer, the reliable and authentic information accompanied with creative ideas, to help them get aware and keen about the going green concepts and simultaneously take care of their health.

Vision
To promote readership using green environment based approach while leading ahead of all other publications in the market. Aspiring to become synonymous with SOLUTIONS for making the MOTHER EARTH happy would drive our success as a publication.

New Product Development: Towards the AIM

New product development is one of the most important processes for many companies, but also one of the least understood (and, perhaps,

executed). Important because, as we will see, New product development is responsible for the revenues and margins that a company can achieve and its ultimate value. It is the least well understood process because few companies assign a single individual to be responsible for the whole process. Instead, it is usually driven through a series of functional causing delays to build up and, often, the original market requirements to get lost. Our definition of NPD starts with the identification of an opportunity in the market (somebody needs a product to do this) and ends with the successful launch of the product. In between are many activities to define the requirements, develop and test a product concept, fully define and develop the product, source for suppliers involved, plan the manufacturing and supply chain, and prepare marketing programs. On top of that, its about defining the product strategy, managing the overall product program, and monitoring all the projects and activities needed to drive the NPD process of the magazine GREEN BASKET.

Introduction
Print Media in India is more than a century old and a well-established industry. The print industry mainly comprises of newspaper and magazine publishing. Book publishing is smaller but significant in terms of revenue. Even though it's a mature industry, new magazines are being launched every year. India has been one of the fastest growing world economies since the past three years. Robust consumption and rising income levels have helped the growth of print media. New titles that focus on niche topics continue to launch in the market. The revenue sources for a magazine are subscription, single copy sales and advertisement. Approximately 73 percent of revenue comes from advertising and 27 percent from circulation. Advertisement revenue Breakdown by region:-

Advertisement revenue (breakdown by region)

40% 30% 20% 10% 0% North South 9% 4% 23% 38% 26%

East

West

National

Advetisement revenu

Ad industry size in India

Ad industry size in India (year 2011)

538 425 3,075 238

TV
Magazine Print Radio OOH

3,250 573

Internet

Idea Generation
The first vital step is to generate ideas for new products are from new ideas. Product ideas generation means fusion of perceived need with the

recognition of a technical opportunity. That is the perceived need may be new or old apparent or latent-currently partly fulfilled or unfulfilled. Though the basic input for the development new products are ideas, all ideas do not become products. The real difficulty is not in gathering these ideas but in identifying the Good ones which shall serve our purpose to go green.

Sources of Idea Generation

The source behind the idea generation of our product which is a magazine is the present trend of market. We found that in India the concept of magazine reading increased growingly because India is a country where the young population is high, almost 60% of whole population and it is skilled population who always try to update their knowledge and from last one decade the attention towards the print medias sources like magazines, literature was increase. So with the help of this small research we took a magazine as our product but again there are many options for designing a magazine like we had thought about the travel magazines, sports magazines, current knowledge based magazines, green marketing concept based magazines, patriotic theme based magazines, religious magazines, health & nutrition etc.

Screening New Product Ideas

The new product idea generation stage aims at increasing the number of good new product Ideas. It encourages every one and every sources to build a stock of such good many ideas. THE FIRST IDEA RUNING STAGE IS SCREENING. Screening is the stage of product development that eliminates the greatest number of ideas from further consideration. It is the critical part of the development activity. If a poor product idea is allowed to pass through, the screening stage, it wastes efforts, money and time in subsequent stages until it is later

abandoned. New product screening is the development and use of criteria to evaluate the potential of new product ideas. The Screening Procedure: 1. The first task is to determine whether a given product idea is compatible with the Companys objectives. Four major objectives may be taken for rating purpose say profit, sales ability, sales growth and the company image. 2. The second task is to determine whether the new product idea is compatible with the company resources. These resources may be capital, technical, supply of materials, labors and other production facilities used. During the ideas generation we got a numerous ides from the internal & external sources, but it is not possible to implement all the ideas. Like some people say we need business magazine, some will ask for the current affair magazine, some say there is need of magazine related to the employment, some will say people like travel magazines & so on. In this stage we will screen these ideas & select one of them for implementation.

Now we are launching magazine based on going green concepts and health & nutrition too under the name Green Basket. Because green marketing and health & nutrition concepts are the current trend of different companies where each and every company today, is trying to use green marketing concept and also, health & nutrition too. So, there exists very good opportunity for us to enter the market .Many other magazines are available in market related to the same sector but their content is not much rich, they give limited information regarding this concept. In order to launch the new magazine we have to screen our idea that relies much heavily on managerial judgment and experience. We wanted to recognize sound ideas that promised commercial and technology opportunity. So keeping in

mind the companys objectives, Mission, Vision as well as resources we have chosen now green marketing and health & nutrition concept based magazine which will be named as Green Basket. The magazine Green Basket will specialize in eco friendly-environment oriented and health & nutrition concepts. In addition it will include regular articles on Yoga exercises & its benefits and will also often feature articles written by novelists, poets, artists, designers and non-travel journalists who work in environment protection and health & nutrition sector. It will also contain the latest news regarding the companys initiative in green marketing as well as new ideas to increase greenery in world with detail of its benefits. It contains the list of top 200 companies who assumed CSRs in going green contribution. As well as the top 30 holiday destinations detailed information with good health & nutrition facilities should be included. Our magazine will provide much additional information in respect of our competitors like we provide facility to our readers that they can clarify their queries directly through our experts. Suggestion or guidelines are also available to new entrepreneurs. All new innovation regarding green concepts and health & nutrition will be published and recognized on regular basis. National and international information and news will also be available in it.

Market Analysis
It is an in depth study of the estimated economic feasibility of a new product i.e. Green Basket Magazine. It is an attempt to predict the economic consequences of the product for the company as a whole. It is assessing the profitability of green marketing and health & nutrition concept based magazine idea that helps us in deciding whether to introduce the product, continue the development and evaluation further or to drop idea. It is evaluation of

the idea in depth to determine its financial, competitive, manufacturing and marketing viability in an accepted business environment. Steps in market analysis 1. Demand analysisThe first step will be to estimate the demand for the green marketing and health & nutrition concept based magazines. Demand for these types of magazines is moreover

balanced in working men & women as well as housewives and students. 2. Cost analysisA complete cost appraisal is necessary as a part of market analysis. It is rather difficult to anticipate all the cost that will be involved in a magazine since the idea of new magazine had not entered the development stage. However its generally possible to estimate a range of cost that will be incurred. Both manufacturing and marketing cost are to be included. Market cost includes all the advertisement expenses, distribution cost, and concession to consumers on subscription etc.

Competitive and industry analysis:

Porter has given a five force model for industry analysis and its components are: Rivalry The intensity of rivalry is influenced by the following industry characteristics: 1. A larger number of firms increase rivalry because more firms must compete for the same customers and resources. The rivalry intensifies if the firms have similar market share, leading to a struggle for market leadership. So many green marketing and health & nutrition concepts based magazines are there in the market which can give a tough competition to the Green Basket Magazine. Like there are Riders digest, frontline, health and nutrition, lifestyle etc.

2. Low switching costs increases rivalry. When a customer can freely switch from one product to another there is a greater struggle to capture customers. If other magazine decrease the cost of its product then it became difficult to fetch the customers again for Green Basket.

Threat of Substitutes In Porter's model, substitute products refer to products in other industries. To the economist, a threat of substitutes exists when a product's demand is affected by the price change of a substitute product. A close substitute product constrains the ability of firms in an industry to raise prices. If any other business magazine low downs the prices of its products then it will affect the demand for Green Basket magazine.

Buyer Power The power of buyers is the impact that customers have on a producing industry. Buyers are powerful if they purchase a significant proportion of output i.e; a business house with subscription of 100 magazines a month.

Supplier Power A producing industry requires raw materials - labor, components, and other supplies. This requirement leads to buyer-supplier relationships between the industry and the firms that provide it the raw materials used to create products. Suppliers, if powerful, can exert an influence on the producing industry, such as selling raw materials at a high price to capture some of the industry's profits. If the suppliers of information tend to charge high price from the producing industry it will affect the production and ultimately affect the customers.

Barriers to Entry / Threat of Entry It is not only incumbent rivals that pose a threat to firms in an industry; the possibility that new firms may enter the industry also affects competition. If any firm like Green Basket enters in competition with business today company there rises some threats to the company e.g. declined sales.

Key Issues
There are many key issues regarding this sector as well as our new product market existence so all these key issues are covered under following SWOT analysis of our product Green Basket magazine.

SWOT Analysis of Green Basket Magazine

STRENGTHS The company has an established name and reputation, we have something unique in our magazine that people need and use. Its new prices are what really set it apart from the competition, its distribution methods are its strengths like one can get the magazine from book stalls in college, in schools even at bus stops, and even at internet.

WEAKNESSES Some people find it tough to understand what is exactly mentioned in the magazine, as it is not easy for a layman to understand at first instance, language and words used in it & sometimes its the information that to which one layman is not interested.

OPPORTUNITIES

Green Basket Magazine is now getting into a good stuff. We have a better opportunity to get the news first and publish it in the magazine as early as possible to increase the sales. Further the company has to consider about introducing more relevant contents which other magazines are not providing. Other opportunities can be there if the company starts issuing the magazine in other languages too. So by doing this we can also capture regional market segment. According to a national survey, 248 million literate adults still don't read any publication. Readership of newspapers and magazines is up 15% since 1998 to 180 million. It's a reflection of a younger, more educated population, especially in smaller cities. Now that the doors to foreign investors in print media have been thrown open, one can expect activity to pick up in this sector. Companies such as Pearson, Haymarket, Time India, News Corp., and Dow Jones have eyed India's big, English-reading market. ICICI Ventures, which holds stakes in three media companies, is quite bullish about the industry's prospects.

THREATS The nastier part of the analysis- the company is likely to have more competitions from other magazine groups. The way of other company to popularize the product can be a threat for our Green Basket magazine. It results in reducing popularity of the magazine. May be new technology is going to pull out the carpet from under the Green Basket magazine feet, or for those matter new developments. Newspapers have added supplements to their main issue and infringed on the content covered by magazines earlier. Television channels have launched in different genres that didn't exist a few years back. And with the increased penetration and adoption of the Internet in the country, more people are now consuming news and stories on different topics on the web and mobile. There is still a demand for high quality print content and magazines need to deliver on that need to avoid losing market share to other mediums. In addition, they also need to explore and distribute their content on the web and mobile

platforms to give choice to their subscribers to consume content from anywhere and at any time. India has 49,000 publications, but annual revenues total just $1.1 billion. Most lack technology, marketing, and capital to grow which has resulted in a handful of publications dominating the market with the Times of India Group being the market leader. Distribution is critical for a magazine since it has to be readily available and marketed to consumers. Big publications have strong distribution network set up. One of the often heard comments is that the new product development process is difficult to manage and this is certainly true for two reasons: 1. At the beginning of a project, the outcome and the work that will have to be undertaken are often uncertain. 2. For many groups in the company, such as supply chain management and manufacturing, new product development is disruptive, causing them to interfere with processes that have been painstakingly optimized.

The SWOT analysis won't produce or create anything for the company, it's merely a tool. For many of us, its main purpose will be to prop open our eyes and force us to lift our heads and see the bigger picture. Focusing on what the company is good at and what needs improvement is vital and the importance of seeing the opportunities and threats that are out and can't be understated.

Objectives
1) To grow as the preferred alternative towards environmental awareness and generation of green ideas.

2) Not only as a magazine, but also we aim to establish ourselves as the market leader for driving eco-friendly solutions to existing and new products. 3) To be able to earn profits and simultaneously contribute to the developmental causes (monetary or non-monetary help) within next 5 years of inception.

Marketing Strategy
After defining the objectives of products we shall follow the below mentioned steps:Product Development Until the product development stage, the existence of the product is entirely theoretical. During the development stage, the product idea is converted into tangible physical product. So now we come to process of how to print the magazine & publish it. The first step is selecting the paper on which it will be printed. Most magazines produced on a commercial scale are printed using a web offset process. The magazine is printed in sections, typically of 16 pages, which may be black-and-white, be in full color, or use spot color. These sections are then bound, either by stapling them within a soft cover in a process sometimes referred to as saddle-stitching, or by gluing them together to form a spine, a process often called perfect-binding and this printing of magazines (how many magazines are printed) are depending on the objective of product.

Material to Be Included In this stage various type of material is selected, that we want to publish in our magazine. Our magazine will include following features 1. Going Green & Green marketing concept Articles 2. Yoga exercises & its benefits 3. Articles written by Novelists, Poets, Artists, Designers and green marketing specialist.

4. Health & Nutrition tips by Sanjeev Kapoor. 5. Green Basket 200, a list of the top 200 CSR initiative taking companies in Green marketing sector. 6. Top 30 holiday destinations detailed information with very good health & nutrition facilities.

Launching Campaign in Market

The next step will be launching a campaign in the market to encourage people to buy Green Basket Magazine. After the product development the next step is to launch our new product i.e. Magazine Green Basket in the market. And to make the general public aware of that magazine. We can launch various advertisements in printed media, on radio stations, television channels & etc.

We can also participate in trade fares in various cities by which we can make people aware about the Magazine. We can also offer special low introductory prices or special discounts on subscriptions & we can offer more discount on subscribing for more than one year. And by doing this we will use cost leadership marketing strategy.

We can also use Focus strategy where we can focus on the potential untapped customer in rural areas because now the literacy ratio in rural area were increase so there are more opportunities for potential customer so both of above mention strategy will working for our product but we all know that the idea behind this product development is making product different with all other existing product or magazines so in case of Green Basket magazine all three marketing strategies are used as a combination to get best output or result.

Action Plan
Target Market As we already mention that our Green Basket magazines contain mainly Green marketing and health & nutrition concepts. So firstly by doing a small research we found that our segments are specially categorized on the basis of demographic category and these segments are Youth, Job oriented people and all those who are not able to get time for their health and other studies. And on the basis of these segments the most fruitful or profitable segment which we targeted was working youth who has always the curiosity about the new updated information and also try to find out the health & nutrition tips to maintain themselves fit and fine during their very busy schedule. To implement this product effectively into the market we take action regarding all four marketing Ps for our Green Basket Magazine as following:-

Product Name of the magazine: Green Basket Magazine catch-line: Live green, Learn green, Love green Target Audience: 17-any Publication frequency: Monthly Number of pages: 50 (plus eight-page A5 sized insert)

Summary of magazine:

Publication focused on working, studying targeted at intelligent, quick-witted and educated young, and old people, primarily gap year students. The magazine provides practical

information, user tips and easy-to- follow advice on aspects of green and healthy living as well more light-hearted piece intent on encourage readers to imagine life in a different way and inspire them to follow the same.

Magazine eco kit

The Green health magazine is putting environmental concepts in place while supporting forest conservation also. Magazine is doing its part to identify and gain access to environmentally friendly papers available to protect and preserve the natural resources upon which we all depend. The Magazine Eco Kit of this publication offers a collection of ideas and best practices that publishers may adopt as their own for a more sustainable publishing industry.

Magazine as a product
Magazines, periodicals, glossies or serials are publications, generally published on a regular schedule, containing a variety of articles, generally financed by advertising, by a purchase price, by pre-paid magazine subscriptions, or all three. The various elements that contribute to the production of magazines vary widely. Core elements such as publishing schedules, formats and target audiences are seemingly infinitely variable. Typically, magazines which focus primarily on current events, such as Newsweek or Entertainment Weekly, are published weekly or biweekly. Magazines are paper-covered publications issued at regular intervals, at least 4times a year. With rare exception, all of them carry ADVERTISING, usually in the proportion of 60% advertisements to 40% editorial. Magazines as product capture focused attention where advertising is targeted, advertising is relevant and welcomed, credible, offer a lasting message, deliver brand-relevant imagery, drive the purchase funnel, etc.

Product pricing
The next step in new product development is product pricing. Now we have to decide the price of our product i.e. Green Basket. The price we charge our customers or clients will have a direct effect on the success of our business. All prices must cover costs and profits. The most effective way to lower prices is to lower costs. Review prices frequently to assure that they reflect the dynamics of cost, market demand, response to the competition, and profit Objectives. Prices must be established to assure sales. Before setting a price for our product, we have to know the costs of running our business. If the price for our product or service doesn't cover costs, our cash flow will be cumulatively negative, we'll exhaust our financial resources, and our business will ultimately fail .In pricing the other factor that is also important is price of the competitors in the market. So we have to set the price for the Green Basket magazine after having looked at the price of the competitors who are producing the same product. Here in our case we will have to charge a very competitive price because there are large no. of giant groups like India Today, the Hindu Group, Express Group etc. these groups are one of the oldest magazine publishers & they can fall their price too weaken in competition of us. Our rate of advertisement in our magazine will also competitive in respect of other competitors so that more revenue from the advertisement can be generated and it reduce our cost and increase the profit and also increase the awareness and goodwill into the market. We can use following pricing strategies according to the competitor situation: Penetration Pricing Price Discrimination Pricing to Customer Expectations Destroyer Pricing Price Matching aka Going Rate Pricing

Promotion and Advertisements of the Product

Promotion is the business of communicating with customers. It will provide information that will assist them in making a decision to purchase a product or service. Though we can communicate with our present and potential customers in wide variety of ways, the most distinguishable categories are personnel and impersonal. Personnel communications relate to face to face meeting between the sales force of the company and the customers .On the other hand impersonal communication include-advertising, sales promotion, public relations we have to make a proper plan for promoting the Green Basket magazine. Advertising is a very popular method for promoting a product. Advertisements in different Medias like television, newspapers can be given for the magazine. Big hoardings in the city will help to promote the product. As we have launch the product for the first time special discounts can be given on the magazine to encourage the customers to buy the product. 1. Above the line promotion: Promotion in the media (e.g. TV, radio, newspapers, Internet and Mobile Phones) in which the advertisement pays an advertising agency to place the ad 2. Below the line promotion: All other promotion. Much of this is intended to be subtle enough for the consumer to be unaware that promotion is taking place. E.g. sponsorship, product placement, endorsements, sales promotion, merchandising, direct mail, personal selling, public relations, trade shows etc. Sometimes promotional strategies change for the reason we know and sometimes for the

reason we never know according to market scenario as well as competitor strategy we will go for push or pull strategy.

Place
Logistic and supply chain A supply chain or logistics network is the system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer. Supply chain activities transform natural resources, raw materials and components into a finished product that is delivered to the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. A typical supply chain begins with ecological and biological regulation of natural resources, followed by the human extraction of raw material and includes several production links, for instance; component construction, assembly and merging before moving onto several layers of storage facilities of ever decreasing size and ever more remote geographical locations, and finally reaching the consumer. And in this process the very important thing is that the magazines are available to the end user on right time in right quantity at the right place. So place depending on our titles distribution requirements there are various means of 'distribution Paid circulation Free circulation Controlled circulation

As we saw that above strategies are used for a product marketing mix and to do all these thing there should be requirement of a budget and also these all tasks are the responsibilities

of the different department of our company so following budget should be based on assumption for launching our new product Green Basket magazine. It is an estimation which is prepared in starting of financial year on the basis of some assumption depend on the past performance of the industry players.

Budget

Budget(estimation)
Income/ Earning Advertisements Articles Sale Rs. (in thousands) 350000/100000/50000/Expense Raw material Printing Machinery Promotional exp. Salary Distribution exp. Other exp. Total 500000/Total Rs. (in thousands) 25000/40000/100000/200000/25000/20000/5000/415000/-

Profit & Loss statement:Profit & Loss Account Particulars(Liabilities) Opening balance Amount(Rs.) Particulars(Assets) 0 Sales Account (2000 copies @ 25/-) Amount (Rs.) 50000/-

Purchase account 1. Raw material (22000) 2. Machinery(100000) 3. Color offset(20000) 4. Cover paper(15000)

Income Advertisement (400000/-)

through

Income through Articles (120000/-) Total

Total Salary Promotional exp. Printing Distribution exp. Other exp. Gross profit Total Net profit

157000/25000/225000/20000/20000/6000/129500/582500/129500/Total Gross profit b/f Closing stock(500 copies)

520000/12500/-

582500/129500/-

STRATEGIES while launching GREEN BASKET

Cover Price: Rs.95 (initially 80) Print Run: 10,000 (rising to 20,000 in year two). Estimated % unsold: 50% Projected circulation: 5,000 Projected readership: 12,000 Advert/editorial ratio: 25% / 75% [there is adverting space equivalent to 20 full pages]

Advertising pricelist: After assessing what our rivals currently command for companies advertising in their publications, we have produced the following price scale that is less expensive than our rivals and appropriate for the development of the magazine. This may be reviewed before the start of year two when we plan to increase the print run to 20,000.

The advertising price scale is as follows: Full page (A4) Rs.3200 Half page (A5) Rs.2000 Quarter page (A6) Rs.1050 Eighth of a page (A7) Rs.640 This is the price for the advertisement (in full colour) to appear in all editions of the issue for publication that one month. Number of staff: 10 full-time + freelancers. Users of the website could also see their content published in the magazine on the dedicated from the website page. Users posting their stories on the Internet forums will be made aware that this is a possibility and by submitting they accept they will receive no payment.

Advertising Strategy:
Key advertisers: With our target audience, our main advertisers will feature low-cost budget airline operators, hotels, companies that provide travel insurance and general entertainment (iTunes etc). We have approached such companies as to whether they would be interested . Advertorial policy: Our magazine will carry advertorials but they will also be subject to the advertising rates as mentioned above and will be used if there is a gap available in the editorial content. We will endeavor to maintain the 25%/75% relationship between editorial and advertising content.

Marketing Strategy:
Promotional activities: First issue will be sold at a reduced price of Rs.80. In terms of external advertising, we will look into placing adverts for the magazine in fellow competitors publications and national newspapers. As we anticipate a large number of our readers to be most interested in the magazine when they are travelling, we shall also look into running large promotional campaigns at train stations and airports. Furthermore, as the next generation of travelers (and the lowest end of our target audience) will be in further education, we will approach language departments of such institutions offering reduced subscriptions so they can promote our magazine to their students or purchase copies for display in their libraries. Give-away strategy: Each issue will contain an eight-page A5-sized pullout that will be environment specific and so will attract readers to the magazine should they be interested in that kind of methodology to protect the environment. Each pullout will contain vital walkthrough newly discovered aspects of eco friendly approach in the country, as well as some useful vocabulary and emergency contacts. The pullout will also contain links to a special section on the magazines website that will contain additional helpful material as well as links to the online discussion forum where readers will be able to air their problems and questions with fellow readers Circulation Strategy: Newsstand positioning: The new green health section of the newsagents newsstand would be the most appropriate for the positioning of our magazine. From our research, we uncovered there was not so many environment focussed magazines as we expected so feel we would get good coverage there. However, with our target audience, position nearby to all

other teenage magazine could prove to be more beneficial as it would attract more gazes.

Retail outlets: Due to the nature of our target audience, we anticipate our main selling outlets are in airport departure lounges and secondary schools. However, we would also anticipate sale in newsagents who through our research into competition do not stock a large selection of go green and health based magazines, especially those for the young prospects. Subscription strategy: Readers will be encouraged to subscribe to our magazine through the placing of in-house advertising, displayed in favorable positions. The subscription offer will entice readers by offering them a substantial saving on the cover price and will run for a period of 12 months or 18 months. Subscribers will also be offered the chance to subscribe to the on line version of the magazine, which will be significantly cheaper because it will cost very little to implement. Subscribers to this will not receive a hardcopy of the magazine, but will be granted access, via the magazines website, to read a digital, online copy of the magazine which they will be able to download in a globally readable format .Non-subscribers will be able to buy individual copies of the magazine online for a small one-off payment, but this amount will be greater than the eventual single price through a subscription, and will cost no more than the hard-copy cover price. It is hoped that this will encourage online readers to subscribe to either of the suggested plans.

Financial Strategy: BREAK EVEN Below is an outline of our projected running costs over a 30-month period: The lowest point of the graph is at month 12 when the running cost is at Rs.5633440 The magazine will break-even in month 30 and will operate a projected profit of Rs.2851200 at month 36. There are details to note when considering this graph: From Month 13, we intend to double our circulation from 10,000 to 20,000.

The cover price for issue 1 will be Rs.75. From issue 2, the cover price will be Rs.150.

From the offset, we have budgeted 10 staff paid at Rs 800,000 p/a. This wage budget rises with inflation and also includes a Rs.4000 after month 12 and month 24. Included in this is an amount of Rs.1,60,000 set aside for external commissions.

The income received from advertising has been calculated realistically, with the target amount used in the calculations. We hope to achieve Rs.1,60,000 through advertising in the first three months, Rs.3,20,000 in the next three months, Rs.6,40,000 from month 6 until 24 when we anticipate being able to achieve Rs.9,60,000 through advertising.

Control and Evaluation

Control is a foreseeing action whereas earlier concept of control was used only when errors were detected. Control in management means setting standards, measuring actual performance and taking corrective action. Thus, control comprises these three main activities.

1. Measuring the actual performance with the standard performance: The producer must compare there actual performance with the standard performance and if he found any deviation he must take the corrective actions or to use the various techniques in order to popularize the product in the market. In this we can see that whether the customer need have been satisfied after buying our product or not. . 2. Taking corrective actions-This involves taking up of correct action. It means is customers are not satisfied with our product than they will not buy it again. So steps have to be taken to remove the grievances of customers. Moreover services like feedback form can be provided

to the customers. Proper feedback must be taken from the customers. As we are to print articles & essays of various writers & journalists, we should be careful about their conditions of printing, we should copy write our design & trademarks so that no one can think of imitate us.

Contingency Plan
If there will any possibility of failure our idea in that case as a contingency plan we will approach to In order to increase the sales we could also go for discounted price for the subscription above hundred copies. If in case prizing strategy does not works our while keeping the initial price low, we shall go for price skimming by keeping the initial prizes high to recover the cost and there by lowering the prices later.

References
www.wikipedia.com/magazines www.wikipedia.com/tra_magazines www.indiatoday.com www.Indian Magazine Market Overview.html