MARKETINGfor

Group members:

Sarah NivetChristina ShipleyTom BickleyRoss Craig

Chosen organisation -

The Concept: Yearbooks for University

• Staple part of high school life in US

• Part of the lifestyle:• Income for school.• Memento for students.

• Beginning to catch on in the UK• 6th forms / 6th years.

• 14 Universities in Scotland• 250,000 students.

• Usually aimed at Graduating years

• Expanding to Sports and Societies.

The Concept: Examples of Yearbooks

The Concept: Universities in Scotland TARGET = Groups that cover average 4 years of

University.• Not just graduates.

MAXIMISE SALES

1) If you had the opportunity to buy a Yearbook that you and your friends could design and fill with photos and memories, would you?

2) Would you pay £19.99 for a hardback copy?

3) Do you think you could get 10 or more of your friends involved?4) Are you involved with a sports club or society?

If yes, which one?_____________

• 50 students• 2 Universities

The Concept: Market Research

• 38/50 said they would like to make a yearbook (76%)

• 35/50 said they could get more than ten friends involved (70%)

• 24/50 said they were involved with a sports club/society (58%)

The Results: Market Research

Potential Sales – Lower Estimate

Eg. SPORTS CLUBSAn example of potential sales at the 14 universities could be to consider the sports teams• 14 universities• 100 students per university (low estimate of

students in sports)• £19.99 – best yearbook available • £14.99 – low cost yearbook

14 x 100 = 1,400 students1,400 x 19.99 =

£27,986

PROFIT = £7,000

14 x 100 = 1,400 students1,400 x 14.99 =

£20,986 The profit per book at £19.99 is £5.00

The profit per book at £14.99 is £5.00

1,400 x 4.99 = £6,986

1,400 x 5.00 = £7,000

Potential Sales – Higher Estimate

Eg. SPORTS CLUBSAn example of potential sales at the 14 universities could be to consider the sports teams• 14 universities• 400 students per university (high estimate of

students in sports)• £19.99 – best yearbook available • £14.99 – low cost yearbook

14 x 400 = 5,600 students5,600 x 19.99 =

£111,944

PROFIT = £28,000

14 x 400 = 5,600 students5,600 x 14.99 =

£83,944 The profit per book at £19.99 is £5.00

The profit per book at £14.99 is £5.00

5,600 x 4.99 = £28,000

5,600 x 5.00 = £28,000

(One university taking on this opportunity alone will provide Venture Books, £2000 profit.)

---YEAR 0---What went wrong?

(2007-2008)

The Current Company: Problems

--- YEAR 0 ---Finance

A grant from the university was awarded to the team for the venture. Of this grant money, £1500 was spent on a website. The rest was spent on extras and is available for spending in Year 1. (£1500)

Sales

No sales were achieved. The company was not advertised and the website was not up to scratch, even for a start-up business.

Marketing

The product and company were not marketed. People in Aberdeen University are still unaware of the opportunity they have to make their own yearbook.

---YEAR 1---Aim : Raise funds and achieve sales in preparation for Year 2.

(2008-2009)

The Current Company: Solutions

--- YEAR 1 ---Finance

Having been allowed to keep the funding provided, the company needs to invest in a new website in order to promote the business to those who are potential customers.

Sales

Sales must be achieved in order to keep the company going. There may be no running costs however with no profits there is no extra funding for the future start-up companies at the university. We will target the sports associations of each university as a whole.

Marketing

Marketing should be aimed at sports teams at universities across Scotland in order to capitalise on team spirit and large rosters. This would also mean that the contract agreed with BookBuilder would be fully exploited.

The New Company: Strategy--- The sports market ---

• Year 1 = focus on raising income/sales.

• Market towards are the sports teams at each university.

• Goal = persuade Sports Associations to buy one yearbook for all teams.

(Either way this market provides hundreds of potential yearbook buyers for each university.)

---YEAR 2---Aim : Having achieved repeat sales from the

sports teams Venture Books must now appeal to the smaller markets in order to

make the most of the opportunity.

(2009-2010)

The New Company: Strategy--- The societies market ---

Student Show

• This year = 86th Student show – 21st to 25th April at HMT.

• Perfect opportunity.

• Website – Lots of pictures already taken. - Actor/Actress/Production profiles.

• Evidence of potential = 243 photos from the ’07 production

• The Band = 8• Production & Tech team =

29• Cast = 28• Script team = 4

• TOTAL = 69 customers.

QUESTION –“They have a souvenir programme, why pay for a yearbook?”

69 x 19.99 = £1,379.31The profit per book at £19.99 is £5.00

69 x 5 = £345 PROFIT

The New Company: Student Production

• 21 screens around campus

Flyers and

Postering

The Advertising: Drawing in Customers

The Advertising: Our Flyer !

• Focuses on important details:- Price- Type- DIY aspect

• Uses the Aberdeen sports team as example:- Shows numbers of

members/customers- Portrays potential- The ‘camaraderie’ yearbooks

represent• Includes the website address for

further info.• Colours/text/icons all play on the

American culture of yearbooks etc, this is the culture we want to sell to universities across Scotland.

The New Company: How to compete?

Google is the key internet market to exploit. Adverts can be bought that appear when specific keywords are searched on Google. These keywords could be :- UNIVERSITY + YEARBOOK

If we are able to promote the company offline and promote the name and idea of “Venture Books” then we can get the URL out to potential customers, this can be done via clubs or teams and their regular meetings.

• Year 1 – Barriers to entry to the market.

• Sheer number of competitors.

• ‘Contracted company’

• Create strong presence in Scotland.

• Cement a place in the ‘yearbook market’ online

• All Students• No Minimum order

Example of past order:• Sixth Form year group with

125 students• Softback (50 pages) x 100

copies works out at £18.50 each

• Hardback (50 pages) x 100 copies works out at £21.00 each

• University students• Minimum order of 10 (til

Year 2)• Once repeat business is

established, minimum order = less than 10.

• Softback is £14.99 each.• Hardback is £19.99

= PRICE ADVANTAGEhttp://www.waveprint.co.uk/

yearbooks.htm

The New Company: Competition?

http://www.venture-books.co.uk/

The Current Company: Problems

--- The Website ---

The New Company: Strategy--- A new website ---

• The current website is overly complicated, it does not make understanding the business easy enough to interest any potential clients.

• It would be possible to produce a cheap alternative, a more efficient and tidier website.

• By improving the website, ordering a yearbook will become easier and hopefully business will improve.

• A step-by-step guide would aid the business and should take up the majority of space on the site.

• The features currently provided by the website are pointless and it would be difficult to incorporate these into the business.

The new website should include :

1. Easy to use interface [No mess]

2. Step-by-step guide [How to order]

3. Contact page [Email for queries]

4. FAQs [Standard queries]5. Gallery [Examples of

Yearbooks]6. Better graphics [Ease of

use]

The New Company: Strategy--- Conclusion ---

Year 1 Year 2

SOCIEITIES

SPORTSTarget large group – across Scotland

This will provide repeat sales for Year 2

Each university has a sports teamso we have opportunities to get a ‘foot in

the door’

Target smaller groups – Aberdeen onlyThis provides further sales on top of the

sport clubs.

By testing out the societies market in Aberdeen

we can assess the potential for the other 14 universities.

Any Questions?Thank you for listening.