True Magazine

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Analysis of "TRUE" Magazine Case

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True Magazine

  1. 1. [TRUE] Magazine<br /> Presented by:<br />Ling Jiang, Matthew Kesthely , Chris McGean, Christine Schweitzer , WeiweiZou <br />
  2. 2. Company Overview<br />[TRUE] magazine is New Brunswick’s urban alternative weekly publication. This newspaper hits stands every Thursday in greater Saint John, Fredericton and Moncton areas.<br />Mission:<br /> To reflect & enrich the cultural & economic life of urban New Brunswick.<br />
  3. 3. Key Strategic Issue<br /> [TRUE] needs to determine how to maximize their return on investment and increase revenue through innovative media alternatives.<br />
  4. 4. Situational Analysis-Key Trends<br />+ Community newspaper <br />74% readership<br />+ Advertising in print<br />27% pay full attention<br />+ /- Newspaper website<br />Behaviour tracking<br />+ /- Smartphone/Social network<br />1 of 7 people own a Smartphone in N.B.<br />70.4% of Canadian Facebook users are 20-45 years of age<br />
  5. 5. Situational Analysis-Key Success Factors<br />Content <br />Marketing<br />Promotion, distribution, client relationships<br />Innovation<br />
  6. 6. Situational Analysis<br />Core competencies<br />Niche contents<br />Company structure<br />Easy to communicate<br />Provincial News Ltd.<br />Areas of IMPROVEMENT<br />Below targeted advertising revenues<br />Fluctuation of pick-up rate/readership <br />Target market: 20-35 years old<br />Innovation<br />
  7. 7. Situational Analysis<br />
  8. 8. Situational Analysis<br />
  9. 9. Key Strategic Issue<br />[TRUE] needs to determine how to maximize their return on investment and increase revenue through innovative media alternatives.<br /><ul><li>Time Frame: 6-8 months
  10. 10. Decision Makers: Sandy, VP of PNL and Director of Sales for PNL</li></li></ul><li>Strategic Alternatives<br />1 = fair, 2 = satisfied, 3 = excellent<br />
  11. 11. Recommendation Overview<br />Jul. 2011<br />Jul. 2013<br />Jul. 2016<br />
  12. 12. Recommendation-Maximize the Core<br />Jul. 2011<br /><ul><li>Start: July 2011
  13. 13. Time Frame: 2 years
  14. 14. Financial Projection: +$350,171 </li></ul>Action Plans:<br />Adjust the content<br />Increase readership<br />Enhance advertiser relationships<br />2 years<br />Jul. 2013<br />Jul. 2016<br />
  15. 15. Maximize the Core:1. Adjust the content<br />Jul.2011<br />Jul.2013<br />Jul.2016<br />New:<br />News Contests/Surveys<br />Opinion Events/Festivals<br />Listings Reviews<br />Profiles Music<br />HumourStyle<br />Movies Food <br />Theatre Job Postings <br />Current :<br />News Contests/Surveys<br />Opinion Events/Festivals<br />Listings Reviews<br />Profiles Music<br />HumourPolitics<br />Movies <br />Theatre<br />
  16. 16. Maximize the Core:2. Increase Readership<br />Jul.2011<br />Jul.2013<br />Jul.2016<br />Broaden the target market (Exhibit 2)<br />Industry Standard: 3.34 readers-per-copy<br />Source: Statistics Canada, 2006<br />
  17. 17. Maximize the Core:2. Increase readership<br />Jul.2011<br />Jul.2013<br />Jul.2016<br />Build community relationships<br />Fundraising and sponsorship<br />eg. The GSJ Community Foundation<br />Weekly coupons<br />10% off main-course for Pumphouse Brewery<br />Collaboration with CareerBeacon and Times & Transcript<br />Job postings section (Exhibit 3)<br />
  18. 18. Maximize the Core:3. Enhance Advertiser Relationships<br />Jul.2011<br />Jul.2013<br />Jul.2016<br />Sales representatives<br />15 - 20% Sales Commission<br />Look through the eyes of advertisers<br />Job-to-be-done questions (Exhibit 4)<br />Long-term advertisers (HMV, H&M, Wacky Wheatley’s, etc)<br />
  19. 19. Maximize the Core:-Financial Projections<br />Jul. 2011<br />Increase readership: 60% <br />Increase advertising revenues:<br /><ul><li>First year(25%): $141,349
  20. 20. Second year(25%): $ 176,686
  21. 21. Job postings: $20,800/year</li></ul>Sponsorship cost: $4,732/year<br />Total: + $350,171 over two years <br />2 years<br />Jul. 2013<br />Jul. 2016<br />
  22. 22. Recommendation-Create Innovative Structures<br />Jul. 2011<br /><ul><li>Start: July 2013
  23. 23. Time Frame: 3 years
  24. 24. Financial Projections: +$756,000</li></ul>Action Plans:<br />Adjust the website<br />Facebook/Twitter<br />Create smartphone application<br />Jul. 2013<br />3 years<br />Jul. 2016<br />
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  47. 47. Create Innovative Structures-Smartphone Applications<br />Jul.2011<br />Jul.2013<br />Jul.2016<br /><ul><li>Sponsorship
  48. 48. Flash media advertising</li></ul>Your Ad Here<br />
  49. 49. Create Innovative Structures-Financial Projections<br />Jul. 2011<br />Increase readership: 50%<br />Increase advertising revenues:<br /><ul><li>Facebook: $60,000/year
  50. 50. Sponsorship: $75,000/phone/year</li></ul> OR<br /><ul><li>Flash media advertising: $84000/phone/year</li></ul>Employee cost: $60,000/year<br />Total: + $756,000 for three phones over three years<br />Jul. 2013<br />3 years<br />Jul. 2016<br />
  51. 51. Stakeholder Analysis<br />
  52. 52. Conclusion<br />[TRUE] needed to determine how to maximize their return on investment and increase revenue through innovative media alternatives.<br />Maximize the core:<br />Time Frame: 2 years<br /><ul><li>Increase readership: 60%
  53. 53. + $350,171</li></ul>Create innovative structures:<br />Time Frame: 3 years<br /><ul><li>Increase readership: 50%
  54. 54. + $756,000</li></ul>Total : Revenues of more than $1.5 million within 5 years<br />

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