Business Communication Report - Unmad Magazine

C103 Business Communications
Report Unmad () Publications Marketing Plan for Unmad

Submitted to
Syed Munir Khasru
Professor Institute of Business Administration University of Dhaka
Prepared by
Group Nine
zr08 Abashesh Biswas zr14 Maruf Hassan zr35 Shadman Sakib Anik zr44 Mansib Intisar Khan zr46 Saleh Ahmed Batch 20th Section A
Date
12 December 2012
Marketing Plan for Unmad

Letter of Transmittal
Professor Syed Munir Khasru Institute of Business Administration
Dear Sir In the course of preparing this report, our efforts have led to an understanding of managing a unique publication in Bangladeshi print media. For communications among employees, both lateral and vertical, as well as with the customer base to proceed effectively, there has to be appropriate rigor in thinking and attitude, which in the satirical publication poses a challenge.
We acknowledge the generosity and co-operation of the editor, Mr. Ahsan Habib, as well as various employees and free-lancers, for communicating openly to the student research group. The exchange with the larger-than-life editor helped us enormously in the course of preparing this report. We appreciate our fellow classmates and the fans of the magazine for airing their animated views on Unmad.
Individual and collective bias, along with a distorted set of data from the customer survey and the company questionnaire, means that we must apologize for the many of our mistakes. We are certainly grateful for your co-operation and appreciate the opportunity to learn firsthand about the nuances of effective business communication.
We end with a statement of no-plagiarism we have acknowledged sources in the References section.
Group Nine:
______________________________ ______________________________ Abashesh Biswas Maruf Hassan
______________________________ ______________________________ Shadman Sakib Anik Mansib Intisar Khan
______________________________ Saleh Ahmed

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Executive Summary
The report focuses on the marketing practices of Unmad publications, edited by Ahsan Habib, and associated products and services. Our selected organization offers a unique take on Bangladeshi media with its niche position on the market.
In the course of our analysis we take note of the liberal organizational culture that adds to the flexible structure of the company. Our limited survey of customers of Unmad reveals the target market from which the employees and customers appear the youth. The company questionnaire has helped us to gauge opinion at the workplace on day-to-day issues such as content selection, buzz creation, unique take on current affairs, brand image and visibility, and pricing strategies.
The publication and associated merchandise, plus the annual events, have considerable brand equity that can be leveraged, in our opinion, for growth and profitability. The fiscal scenario, we note, is cause for some concern as entertainment in general, and print media in particular, continues to move to a zero-price, advertisement-supported online avenues. We have discovered a certain refusal to face up to change that hampers the future of the subscription-based publication. The future looms with the prospect of drastic changes in management, marketing and distribution imminent, and we must acknowledge that expansion and business sustainability can only happen through diversification of the brands in the new electronic media, especially online, and associated products.
However, the magazine has managed to provide a refreshing perspective on the personal, entrepreneur aspect of business establishment. We find the owners refusal to only focus on the bottom-line, whether red or black, exceptional. While this may be inimical to maximizing profitability, the magazine remains treasured among its customers as well as appreciated among the employees. Therefore, it remains unanswered as to whether Homo economicus selfinterested beings that accept the supremacy of prices and profits is a valid model of behavior in the print and publication industries. We predict that the time of vanity publications has come to an end with the encroaching online piracy and copyright infringement.
Lastly, our culture will be poorer without Unmad, for it pokes at the society with characteristic wit and charm. It affords opportunities for upcoming artists and writers. In its long run through the ups-and-downs through the course of history, Unmad has managed to sustain itself with the combination of quirky, dedicated employees and loyal (but equally eccentric) fans justifying, in retrospect, the title.
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Table of Contents
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1. Introduction ________________________________________ 1.1. Origin of the Report 1.2. Purpose and Scope 1.3. Sources and Methodology 1.4. Limitations 1.5. Report Preview 2. Company Overview ________________________________________ 2.1. Mission and Vision 2.2. Objectives 2.3. Products and Services Offered 2.4. Organizational Structure 2.4.1. Office Culture 7 2.4.2. Management and Leadership 7 2.4.3. Other Stakeholders 7 3. Situation Analysis ________________________________________ 3.1. Market Summary 3.1.1. Target Market Demographics 8 3.1.2. Market Trends 9 3.1.3. Market Needs and Growth 9 3.2. Competitors 3.3. SWOT Analysis 4. Marketing Plan ________________________________________ 4.1. Marketing Objectives 4.2. Financial Objectives 4.3. Target Markets 4.4. Strategies 4.4.1. Unmad Magazine 12 4.4.2. UnmadProducts 13 4.4.3. Annual Events 14 5. Financials ________________________________________ 5.1. Current Situation 5.2. Pricing Strategy 5.3. Sales Forecast 5.4. Expense Forecast 6. Controls ________________________________________ 6.1. Implementation 6.2. Marketing Organization 6.3. Contingency Planning 7. References ________________________________________ 8. Appendix ________________________________________ I. Authorization Letter II. Letter of Introduction III. Customer Evaluation Survey IV. Company Questionnaire V. Relevant Data VI. Peer Evaluation in Group Performance
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1. Introduction
1.1. Origin of the Report This report is the work of five undergraduates at the University of Dhaka, under the supervision of the Professor of Business Communications at the Institute of Business Administration. We look at the marketing strategy of Unmad, a satirical print publication from Dhaka. 1.2. Purpose and Scope Our objective is to evaluate the feasibility of the marketing strategy and overall outlook of the magazine. The financial solvency and organizational culture is introduced in the report. We find the general direction the company, and the industry, is heading to in the next five years. The report focuses on the marketing prospects with limited budget among the current target market that requires the least amount of radical shift in policy and company structure. The emphasis is on retaining the current climate that fosters creativity in content and allows for a loyal readership to grow that sustains financial prospects in order to bring the company to a permanent footing.
1.3. Sources and Methodology The most essential qualitative primary source has been an interview with the editor and associate editor of the publication. The company questionnaire is the starting point of our queries. Secondary sources of information include customer survey that let the fans answer for themselves, and articles on print and information online.
1.4. Limitations We have deliberately avoided going into the details of its finances and management practices to focus on marketing and branding. Time constraints and dearth of credible financial information hampers the report. The implementation of the marketing strategy is not yet complete, and the publication cannot afford to divert resources to research and monitor innovative marketing opportunities and potential customers. The marketing plan has not taken adequate steps to help with other offerings of the company, such as the Travel and Fashion magazine published concurrently with Unmad. It has considerable uncertainties involved and has room for further improvement in comprehensive financial planning and project management techniques.
1.5. Report Preview The reader will find an introduction into content creation in the company culture and the design process of the publication. There is a survey of the current market structure and the target market. The future plans of the company are highlighted.
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2. Company Overview
Founded in 1978 by Kazi Khalid Ashraf and Ishtiaq Hossain, Unmad () was the effort to clone the popular US satirical magazine, MAD, in Dhaka. At the time, MAD magazine captured the imagination and attention of youth worldwide for its self-deprecating humor and cartoons. The irregular magazine brought in the cartoonist, Ahsan Habib, who subsequently was transferred the deed to the company by the owners. Habib decided to produce a reliable monthly cartoon magazine that poked at current affairs. The first issue of three-thousand copies was sold out, but the second issue of six-thousand left half unsold. This event made an impact upon Habib, for from then on he appreciated the power of word-of-mouth to improve circulation of the magazine. The content at the time looked at television dramas, movies and sports using hand-drawn cartoons on black-and-white tabloid newsprint, which remains the format today. Content creation is the work of full-time cartoonists, free-lance artists and writers, and readers contributions. A mix of cartoons, humorous write-ups, rhymes and puzzles is present in every format. For many of its 35 years of publication, the magazine occupied a monopoly position in the niche market. Its longevity surpasses that of its competitors. While Unmads readers are not as passionate as they have been in the 1990s, they retain affection for the magazine. Circulation has fallen in a world redefined by the Internet, but opportunity in associated merchandise and sponsorship of annual events can be plucked. The future of the company rests upon its reputation. 2.1. 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.
2.2. 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
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readers with progressive, apolitical philosophy without jargon. Entertainment that actually is fun will be delivered to the customers.
2.3. 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. The only UnmadProducts show-room at the Aziz Market near the University of Dhaka makes it convenient for the youth of Dhaka. 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.
2.4. Organizational Structure
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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. 2.4.1. 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 2013 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.
2.4.2. 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.
2.4.3. 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.
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3. Situation Analysis 3.1. 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. 3.1.1. 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 16-24 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. In the next five years it is projected that the price of the magazine will be raised 25 ($0.30) to 30 ($0.35), which is to adjust for rising costs and inflation. 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
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implemented, the customer base will be significantly strengthened by the relatively affluent expatriates.
3.1.2. 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 105,000 fans on Facebook, while UnmadProducts has a 40,000 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.
3.1.3. 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.
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3.2. 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.
3.3. 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. Threats from encroaching competitors are not likely in the five years. Piracy is another thorn that cannot be addressed easily. Online sales may exacerbate copyright infringement of pirates, but in the weak legal environment and lax managerial attitude there can be few steps taken that fails to provoke a backlash among fans of the magazine.
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4. Marketing Plan
The magazine has to branch out into new directions while keeping hold of its monopoly market position. For its creative writers and cartoonists to work on innovative ideas, the liberal organizational culture is a requisite. Broadly speaking, marketing the magazine has to be implemented without the required personnel marketing and financial firepower to court its customer base of young adults and teens in Bangladesh and non-resident Bangladeshis. Marketing will happen through real-life and online social networks, spreading through word-ofmouth virally. The three-pronged marketing plan involves pushing up online sales of e-magazine and merchandise, inaugurating UnmadProducts franchise ventures in Chittagong and Khulna, and regular training workshops, cartoon exhibitions and book fairs. The approach to increasing circulation of the print magazine and its online counterpart is cost-conscious and avoids traditional advertisement means. UnmadProducts will continue to bring in lucrative sales in merchandise, both online and through the current showroom in Dhaka and forthcoming stores in Khulna and Chittagong. Annual events will protect the brand from disrepute and generate positive appeal among the youth. 4.1. Marketing Objectives In the next five years, Unmad will enter a critical phase of its cycle. The traditional reliance on print circulation has to be accompanied with additional roads to revenue UnmadProducts and Unmad-style events. The current circulation has to be doubled in both print and emagazines to 30,000 copies monthly for significant gains in financial success. It has to be borne in mind that sales of e-magazine may adversely affect sales of the print version. UnmadProducts continues to produce a significant share of revenues from high-margin merchandise sales, and is predicted to produce half of company revenues in the timeframe, along with proceeds from annual events. Annual events will be held every year from 2013 onwards and is expected to be sponsored by business partners in the time being. At the completion of the plan, it will be anticipated that proceeds will significantly contribute to the financial growth of the company.
4.2. Financial Objectives In the moment, the books are barely out of red. It is likely that without the passionate patience of its owner and editor, the publication will flounder. The five-year period will ensure that the financial situation becomes healthier and more stable. Not every quarter at the time is profitable, and the publication has to depend upon special Eid editions and the annual book fair to recoup losses. UnmadProducts produces wildly variable returns throughout the year, which along with the magazine suffers when the targeted youth has national examinations coming up. The plan will place the company finances on a secure footing it is expected that the monthly profits will rise from 40,000 to 90,000 by 2017, with re-investment into the company and liquid reserve being priorities in spending.
4.3. Target Markets Unmad cannot within the time period move away from its core customer of teen and young adult students. Nevertheless, with strategic re-positioning of the company up-market can be valuable in the long run. Unmad magazines have always been for the youth. There is an opportunity to exploit the nostalgia that non-resident Bangladeshis in the United States and
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United Kingdom hold in store for the classic Unmad in the nineties. While circulation has fallen from its peak, the five year plan will attempt approach the sales summit. Besides online sales of e-magazines to the youth hooked onto social networks like Facebook, non-resident Bangladeshis may easily access the newest volumes at premium prices. UnmadProducts has trend-defining products for the fans, not just in Dhaka but in Chittagong and Khulna as well. Online transactions recently started can be of use selling to expatriate Bangladeshis. Annual events are well-attended by all age groups, but customer satisfaction is maximal in the targeted youth. Book fairs and cartoon workshops exclusively cater to the young. Finally, cartoonists at Unmad have begun public exhibitions where the quality of Unmad cartoons to express larger issues in the society is appreciated. Unmad has become an icon, an art fetching astounding prices and placing cartoon posters alongside paintings.
4.4. Strategies The marketing plan has to bring on radical changes to the outlook of the organization. The delicate balance between the liberal culture and commercial interests has to be struck. The management is expected to establish a fresh marketing department and invest most of its meager income into the organization. Change is not an easy, but that luxury of choice is no longer available. The three-tiered marketing strategy has to double Unmads circulation, bring on half the revenues from UnmadProducts, and transform annual events into self-sustaining entities. 4.4.1. Unmad Magazine While the magazine is not on life support, the rosy bloom at the turn of the century has now wilted. The subscription-only model has been abandoned last decade, but it seems to be half-hearted attempt. Advertising revenues can be far greater than current figures, yet a marketing division that pursues advertisers has not been established. The business model has to be comprehensively repositioned to double circulation. Advertisers shun the magazine, calling it silly. They cannot be more wrong. The typical Unmad reader scrutinizes every letter and collects every volume. Unlike the free supplements offered by dailies, the monthly publication is not disposed of as soon as it is read. Unmad stays at the market for the entire month, and at the annual book fair is offered a compendium of the years volume in a redesigned digest. The reader has a relaxed, friendly attitude during the reading process. With real estate in traditional media costing thousands for mere seconds, advertising in Unmad is a great opportunity to connect with the target market at a fraction of the cost. Lastly, the standing of the magazine as not just a money-making entity helps advertisers to penetrate deeper into the readers psyche. The shift to a balance between advertisement and subscription has to endure online as well. There is no effective policy against copyright infringement, and the management hesitates to move against its fans. It is possible the lack of a legal alternative forces Bangladeshi expatriates to download illegal copies from the Internet. The magazine website has expired recently and has to be revamped to include an online version of the print edition. Priced at similar rates to the original, the e-magazine can be brought through mobile payment systems like bKash (which has been partners with UnmadProducts), or credit card companies like VISA. It is critically important that the site remains accessible to mobile internet users, as most of the cellular networks have allowed the young access.
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In association with the current partnership with Airtel Bangladesh, which offers mobile versions of Unmad to its customers, there has to be an effort to lure in other mobile phone networks as well. The magazine will be heavily advertised on the Facebook pages. The bait will be free content cartoons, jokes and puzzles uploaded to be shared in the social network. This will then lead to younger users to be acquainted with the magazine, who will become the subscribers of tomorrow. Unmad is on Facebook. Over 105,000 users like the official page, and fan pages show five-figures. All in all, with over two million young Bangladeshis to be reached, Unmad has an enviable position on social networks. The magazine cannot afford traditional advertisements on television, newspapers or radio, and even if it was possible, it is unlikely that they will be effective. However, through these pages on the network some 200,000 Bangladeshis, living in Dhaka, Chittagong, Khulna and overseas, can be reached. Facebooks friends-of-friends system and mimetic, viral transmission of shared content are excellent tools to spread the word. With targeted customers likely to spend more time online than off, there is great potential for monetization through sales of e-magazines.
4.4.2. UnmadProducts The magazine remains at the center-stage, but merchandise sales are expected to bring in half of revenues by the end of the timeframe. Unmad need not take its eyes of the magazine. The high-margin sales, with profits per unit reaching one-third of its value, helps to diversify risks too. Online sales and home delivery options implemented in the previous plan has been commendable. Now anyone living anywhere in Bangladesh, or in the United States, or in the United Kingdom, can buy directly from the UnmadProducts website with the assurance that the product will be delivered, for free, to her or his doorstep. While Dhaka benefits from the only store, online sales can help reach previously untapped customer base. Expatriate Bangladeshis from New York or London are likely to be a key market within the timeframe. The relative novelty and security risks of e-commerce is not barriers in overseas markets. Nonetheless, the product portfolio has to be expanded to included iconic designs from the previous century to attract middle-aged Bangladeshi immigrants. The UnmadProducts store is wholly owned by the company, while merchandise is sourced out to contracted third-parties. The physical confines of the showroom are less important than the products themselves. Franchising out is vital to open up shops in Chittagong and Khulna. The company cannot pay for shop-fronts at the two cities by itself. When deciding upon the location of the stores, precedence must be on middle-class shopping destinations rather than upmarket shopping malls. UnmadProducts currently produces merchandise for young men. New products for female fans can be brought in, including T-shirts, handbags, etc. Leaving out half of the Unmads fan base empty handed is not a good idea! UnmadProducts currently has about 17,000 likes on Facebook. The marketing department has to be built up from scratch to take advantage of the new media. During the period it is sufficient to hire part-time marketers to publicize and offer discounts through Facebook.
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4.4.3. Annual Events Each season, Unmad has to organize events that cater to the youth. The objective is not to earn as much as possible. Instead, these events brighten the brand image, bring on new subscribers and recruit new talents into the magazine. It is not expected that the events will become profitable immediately. If managed effectively, the revenues from these will offset the costs incurred so as to become independent from company finances. It may be necessary to form a subsidiary branch for Unmad Events. Near the end of 2017, plans shall be in place to produce events in Chittagong and Khulna as well. Early in February, Unmads Ekushey book fair stall starts off in the winter. The odds are plenty that the fair will be well-attended during the years. Fans are likely to interact directly with the writers and cartoonists, deepening customer relationships. The annual digest published from last years unsold copies can bring on good money. New subscribers can be registered at the fair each year such that circulation grows steadily. The summer season is appropriate for establishing cartoon workshops. As students start upon the summer holidays, training by famous cartoonists in three-month courses looks feasible. The registration costs cannot be too dear to deter promising talents, and not too cheap to lose face in customers appreciation of brand image. The aim is to find the next batch of talented cartoonists who can contribute their own ideas the magazine. Each fall will see a public exhibition of the best cartoons published by the magazine. This gives an opportunity for the Unmad team to speak about more significant issues, such poor quality in education, electricity crises, traffic jams, all of which are resented by the youth. The cartoons will presented as rivals to painting as pieces of contemporary art. Celebrated cartoons by renowned illustrators can fetch quite high prices in the auctions. The goal is to shift the brand magazine up the market such that by the end of the marketing plan there is a chance to attract an older, wealthier target market. Unmad cannot advertise in the media. The prohibitively high costs can be avoided with some inventive measures. In a way, Unmad not only gets prominent expression along with favorable mentions in the media, but also gets to be paid for it! Many of exemployees of the magazine work in radio shows and television channels. With these contacts at hand, Unmad can offer its veritable band of jolly writers and illustrators to produce and air exclusive content. With electronic media baying for novelty, this is not impossible. For example, a radio commentary on a cricket match in Bangladesh may benefit from a touch of Unmads humor. However, as these are still not underway it is not reasonable to assume cash to start flowing in immediately. As a final point, Unmad spends upon socially responsible events. This years tree plantation drive has been entirely paid for by the publication itself. With the help of corporate sponsors, these events can be prepared successfully. Unlike traditional public service announcements, Unmad can find a way to combine social responsibility with laugh-out-loud humor. As a trustworthy name among the youth, Unmad is better placed to warn the dangers of addictive drugs, to cite a case in point. A sniggering skeleton saying yes to drugs catches attention far more than tomes full of adverse effects on the society. The Unmad brand can become a part of Bangladeshs culture.
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5. Financials
5.1. Current Situation During the year of 2011, the average circulation of the magazine has been around 13,000 copies monthly. With 40% commission for distributors, the wholesale price comes down to 15. Total revenue is then 195,000. While financial statements are not available for the private company, the management has hinted about the costs being three-quarters of its revenue. Cost of goods sold, mainly in printing costs and employee salaries, then 156,000, with 12 per unit. Profits can be roughly estimated at around 40,000 last year, within large uncertainties. Data on UnmadProducts and on annual events is not accessible.
5.2. Pricing Strategy The current price of 25 is cheaper compared to the prices in the 1990s when adjusted for inflation. However, the target market hates price hikes. Last year, the price of the magazine went up by 25%, provoking a storm of angry mail from the readers. In spite of rising costs, it is prudent to raise the price not more than 20% in the period. The projected price of 30 has the advantage the reader does not have to look for change when buying the magazine from the newsstands. 5.3. Sales Forecast The five-year term looks to double circulation to 30,000 copies in total online and offline sales each month. The by-products are not specified quantitative targets as the management focuses upon the core competency. UnmadProducts is projected to expand aggressively into two cities and abroad. Annual events are expected to finance themselves and maintain regularity.
5.4. Expense Forecast The cost of paper has risen multiple times in the last five years. At the moment upgrading from newsprint pages is not economical. Printing charges will not change significantly in the period. Distribution takes out a big chunk out of profits. But unfortunately there is no alternative to the door-to-door delivery system using hawkers. With a commission of 40%, as total circulation increases, so does the payout. The recent unionization of cartoonists has been encouraged by the management. The higher rates specified by the Bangladesh Cartoonists Association means that employee expenses will be higher in the future.
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6. Controls
6.1. Implementation The five-year plan has to be brought to reality with the target to increase circulation of the magazine, merchandise sales, and the number of successful events. Lamentably, the management structure is not geared towards a professional approach leadership and decisionmaking. The answer may not lie in a formal, hierarchical organization, which stifles innovation at the workplace. In the short run, the plan has to make do with a team of associates at editorial level. The open culture at the office can help solve difficult policy and practical problems with the input of journalists.
6.2. Marketing Organization It is expected that in the least a relatively basic and informal marketing department has to be set up. Budget constraints restrict marketing opportunities to Facebook. Part-time employees can be in charge on public relations online. The marketing plan hinges on the power of wordof-mouth and customer recommendations to propel future growth. It requires relatively little investment in resources.
6.3. Contingency Planning The chronic lack of human resources has the advantage that senior management has to supervise the plans from the start. Contingencies will have to be handled from the top for reasons of better control and co-ordination. The chief issue to watch out for is consumer and employee backlash against perception of being commercial sell-outs. To placate worrying stakeholders the company has to be in constant touch with the press. Another concern is keeping the vibrant organizational culture intact. The current policy to separate design section from finance and editorial departments is appropriate. As senior employees age and collect experience, Unmad has to retain senior writers and illustrators while using the workshops to find young talents.
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7. References

Aporajito', B. (2009, August 11). Bangladesh-er Jonopriyo Cartoon Magazine Unmad. Retrieved December 6, 2012, from Amar Blog: http://www.amarblog.com/blogger/oporajito Chowdhury, A. (2003, November 12). Celebrating Eid in Unmad Style. The Daily Star. Habib, A. (2005, May 5). A few moments with the Unmadok - The Daily Star. (D. Ghias, Interviewer) Habib, A. (2010, February 9). The mirthful world of Unmad - The Daily Star. Habib, A. (2011, February 23). Ahsan Habib, the Unmad guru - The Daily Sun. (I. Hossain, Interviewer) Habib, A. (2012, December 6). Unmad Publications. (B. C. 9, Interviewer) Haque, C. M. (2011, December 25). Drawing Life - The Daily Star. (P. P. Chowdhury, Interviewer) Hossain, A. (2011, January 14). Here's to a Bright and Funny Future. The Daily Star. Khan, S. A., & Apurbo, K. T. (2012, February 12). Spotlight. The Daily Star. Tanim, F. K. (2005, May 8). Visitors flock Unmad show. The Daily Star. Wikipedia. (n.d.). Unmad. Retrieved December 6, 2012, from Wikipedia: http://en.wikipedia.org/Unmad
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8. Appendix
I. Authorization Letter
Subject: Re: C103 Bus.Comm. Group 9 From: Syed Munir Khasru (munir_iba.du@egen.com.bd) To: maruf.hassan@live.com;
Cc: saleh.ahmed.92775@facebook.com; shadmansakibanik@yahoo.com; absheshbiswasmanan@yahoo.com; mansibikhan@gmail.com; Date: Friday, November 30, 2012 12:08 PM
please go ahead. Regards SMK ________________________ At 05:21 PM 11/28/2012 +0000, Maruf Hassan wrote: > Dear Sir, > We expect to complete our final report and presentation on "Unmad" () the magazine. > The satirical cartoon magazine, published since 1978, has great stories to offer on running a quirky business in Bangladesh. We hope to connect with the writers to find more about their marketing and communication practices alongside its finances. > With your approval of the topic, we can continue working on the assignment. Please suggest any changes that may be necessary. > The presentation shall take place in your presence on 11th of December, 2012. > Yours sincerely, > Group Nine > The 9th group consists of: > zr08 Abashesh Biswas > zr14 Maruf Hassan > zr35 Shadman Sakib Anik > zr44 Mansib Intisar Khan > zr46 Saleh Ahmed
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II. Letter of Introduction
Letter of Introduction
To Mr. Ahsan Habib Editor-in-Charge Unmad Magazine
From Group Nine Business Communications Research Team Institute of Business Administration, University of Dhaka
Dear Sir/ Madam Good day to you! Were five undergraduate students from the Institute, and incidentally fans of your publication. Under the supervision of Professor Syed Munir Khasru, weve decided to write up on the management of Unmad, a long-running satire magazine. The story of running, since nearly the beginning of Bangladesh, a fun magazine promises to be exciting. Throughout the twists and turns of Unmad, we can find the larger issues at play. Running a satire publication is a unique, one-of-a-kind business. Were interested to know about merchandising the brand at UnmadProducts, yet remaining true to the core customer base. Unmad blurs the line between what it means to be a product and a service. The financials of such a company requires an innovative outlook and some quick-thinking and solid leadership. To wrap it up, Unmad is a success story in the Bangladeshi media, and we hope the story reaches and inspires the new generation.
Yours sincerely
zr08 Abashesh Biswas, zr14 Maruf Hassan, zr35 Shadman Sakib Anik,
_________________________ Business Communications Group Nine
zr44 Mansib Intisar Khan, zr46 Saleh Ahmed
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III. Customer Evaluation Survey
Unmad Publications
Customer Evaluation Survey C103 Business Communications Group 9
Please tell us how the Unmad would rate on the following attributes: o Quality o Price o Trustworthiness o Design and Layout o Value and Satisfaction
Which other magazines have you read? o Weekly supplementary magazine with dailies Rosalo (), Prothom Alo Ghorar Dim ( ), Kaler Kontho o Monthly magazine in different categories Mystery Magazine ( ) o Currently unavailable rivals BanGo () Angul () Lokjon () Cartoon o Imported magazines MAD magazine
Which of the following best describes your needs? o Cheap o Humor o Satire o News
How long have you been a reader? o Recently (less than 6 months) o A few years (less than 2 years) o Many years (more than 2 years)
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IV. Company Questionnaire
Unmad Publications
Company Questionnaire C103 Business Communications Group Nine
Profile
History
Planning
Marketing
Finances
Where did the idea of Unmad come from? What is its target market? What contributes to the growth of Unmad? What features can be introduced to the magazine? What is its monthly circulation? At what price is the magazine sold to the wholesaler? Is there any promotional offers? What does the management want from Unmad? What does the public demand from the magazine? What problems hinder growth and development in the industry? What other products and services does Unmad offer? How successful is the icon, design or logo that represents the company? What are your goals in the next five years?
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V. Relevant Data
Target Market Analysis Primary Target Market 16-24 Students Accessible to All Standard Bangla Literacy Dhaka, Chittagong, Khulna Secondary Target Market 34-44 Full-time Professionals Higher Bracket College Degree New York, London
Age Life Cycle Income Group Education Location Age Life Cycle Income Group Education Location Sales History
Company Structure Editor Finance
Unmad magazine
UnmadProducts Dhaka Showroom
Annual Events
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Idea and Design

Marketing Plan Five years 2013-17 Resource Allocation to Marketing Implementation by Management Funding from Finance Monitoring by Marketing Unmad Magazine Objective: Double sales to 30,000 units e-magazine (targets Bangladeshi expatriates) sponsorships and advertisements (shift business model)
UnmadProducts Objective: Produce half of company revenue outlets at Chittagong and Khulna (captures local customers) online sales (targets Bangladeshi expatriates)
Control by Management
Annual Events Objective: Become self-sustaining entity book fairs (attracts new subscribers) training workshops (hires skilled employees) cartoon exhibitions (elavates brand image) social responsibility program (raises brand visibility)
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VII. Group Project Name Members Roll Name Batch 1. 2. 3. 4. 5. Knowledge of the Subject Leadership Qualities Ability to Work in a Group Energy Creativity 6. 7. 8. 9. 10. Communication Skills Manners Punctuality Efciency Initiative Peer Evaluation in a Group Performance
Overall in a scale of 10 how would you rank this Group Member? Additional Comments (if any), you may use overleaf if necessary:
Name of the Evaluator 1 Name of the Evaluator 2 Name of the Evaluator 3 Name of the Evaluator 4 Name of the Evaluator 5
Signature Signature Signature Signature Signature

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Group Project Name Members Roll Name Batch 11. 12. 13. 14. 15. Knowledge of the Subject Leadership Qualities Ability to Work in a Group Energy Creativity 16. 17. 18. 19. 20. Communication Skills Manners Punctuality Efciency Initiative
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Report Unmad () Publications Marketing Plan for Unmad

Marketing Plan for Unmad

Professor Syed Munir Khasru Institute of Business Administration

______________________________ ______________________________ Abashesh Biswas Maruf Hassan

______________________________ ______________________________ Shadman Sakib Anik Mansib Intisar Khan

______________________________ Saleh Ahmed

Marketing Plan for Unmad

Marketing Plan for Unmad

Marketing Plan for Unmad

Marketing Plan for Unmad

Marketing Plan for Unmad

2.4. Organizational Structure

Marketing Plan for Unmad

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Marketing Plan for Unmad

Marketing Plan for Unmad

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Marketing Plan for Unmad

Marketing Plan for Unmad

Marketing Plan for Unmad

Marketing Plan for Unmad

To Mr. Ahsan Habib Editor-in-Charge Unmad Magazine

_________________________ Business Communications Group Nine

zr44 Mansib Intisar Khan, zr46 Saleh Ahmed

Marketing Plan for Unmad

Customer Evaluation Survey C103 Business Communications Group 9

Marketing Plan for Unmad

Company Questionnaire C103 Business Communications Group Nine

Marketing Plan for Unmad

Company Structure Editor Finance

UnmadProducts Dhaka Showroom

Idea and Design

Marketing Plan for Unmad

Marketing Plan for Unmad

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Marketing Plan for Unmad

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Marketing Plan for Unmad

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Marketing Plan for Unmad

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