STRATEGIC BUSINESS PLAN FOR PUBLISHING OF PROFESSIONAL
MANAGEMENT AND TECHNOLOGY JOURNAL
BHP GROUP Inc. (Group Publishing) is the publisher of management and technology journal. The journal is directed at high, middle and lower level manpower at all levels of business throughout the country. The management of BHP Group Publishing is targeting a total combined circulation of 206,000 journals in year one, increasing to 310,000 by the end of year three. The journal will be published bi-monthly with increased press runs throughout the first three years. Sample distribution, organizational sales, and direct mail to targeted lists of professionals will be utilized to build subscriptions.
In addition, BHP Group Publishing will market books via direct marketing and through established professional’s distribution channels. The direct marketing of BHP Group publishing books will be implemented through its journals readership base.
Publishing is a high profit and high margin business. The key to success is successful marketing. The Group has a highly focused multi-dimensional sales and marketing plan to build its total circulation base quickly.
Successful execution of The Group’s plan will produce sales revenues of 3.1 million (BP) in year one, 4.8 million in year two, and 6.4 million in year three. Net profit will increase steadily over the next three years. All figures are stated in British pounds.
The initial objectives of The Group are as follows:
- To raise seed capital of 150,000(BP) to ensure publication by month two and to establish a cash reserve to market subscriptions.
- To have 90,000 subscribers by the end of year one through direct sampling and marketing.
- To have an additional 50,000 subscribers by the end of year one through organizational sales.
- To have 10,000 more two-year subscriptions sold.
- To publish two 36 page issues initially with press runs of 50,000 promotional copies each.
- To go to 48 pages by issue number three and increase press runs to 75,000 promotional copies.
- Increase to 100,000 promotional copies in issues five and six.
- Increase average advert page cost from 1,819 to 2,618 (bp) by the end of the first year.
- To sell an average of 17.5 advert pages per issue throughout year one.
Management and Technology journal is for a worker at any level. The magazine has a commitment to be a platform of classified professional information on management, business, and technology development and applications to high, middle, and low level manpower that are represent the journals vision in the marketplace and who can both encourage and provide role models to other men and women. BHP Group Publishing, through its magazine, books, and editorial content, will be a vessel to inform professionals about management and technology principles in everyday business and will encourage interaction among readers as business people. Our mission is to promote the concept of professional standards in the workplace.
1.3 Keys to Success
The keys to success are:
- Attaining targeted circulation levels.
- Controlling costs while spending the maximum on subscription marketing in year one.
- Carefully monitoring response rates of all media executions.
- Follow-on marketing of two to four book titles in the first year.
- Attaining targeted advertising sales revenues.
- Having quality editorial content in each issue.
- Making all production and distribution dates in a timely fashion for each issue.
BHP Group publishing shall operate as a subsidiary of BHP Group inc.It shall however maintain its entity as a firm designated to invest in its operations and make profit. It is expected that the media; shall be a powerful promotional vehicle for the journal.
BHP Group Publishing will have exclusive rights in Business” for all print media, electronic media (Internet home page, CD-ROM, Interactive Publications, etc.), catalogue business, and possible seminars and workshops devoted to the business person.