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The exploration journey powered by world book
- 1. MAC 595 Directed By Sanford Bredine 1
- 2. 2
- 4. Agenda Industry Background Competitive Analysis SWOT Analysis Target Customer Branding & Designing Marketing plan - Product - Price - Promotion (Media Plan) Budget
- 6. Dark Clouds Forecast for the Print Encyclopedia Industry “ There is nothing much to say about encyclopedias or reference books as they are hardly used nowadays. Many books (not only World Book, but also other reference works) were gathering dust and hence, they are doing away with most of it.” ---- Kathie Fifer, Librarian Warren-Newport Public Library Source: http://www.hoovers.com 6
- 7. Print Encyclopedia Evokes Unfavorable Consumer Sentiments 7
- 8. Respondents Unanimously Gravitate towards Technology “ People prefer online resources. we have weeded out reference sections, as nobody would use reference books in print form. ” ---- Kathie Fifer, Librarian Warren-Newport Public Library 8
- 9. 90% 41% 35% 20% Search Online Go to Library Books Others (TV,CD) 0% 20% 40% 60% 80% 100% Information Search Habits 59% 18% 23% Version Preference Digital version Print version Both 73% 100% 27% 0% 50% 100% Online Resources Google Online Search Habits Wikipedia Other websites Updated, Affor dable, Accessi ble N = 100 9
- 10. go ON-LINE ! 10
- 12. Parameter World Book Britannica Wikipedia Scholastic Brand Awareness 73% 86% 100% Key Areas of Focus History, Biology Math, Science, Language Increasing All fields Contents Easy to Read Complex Combination Complex Target Customers K - 12 Grade 6 and higher Anyone Grade 3 and up E- commerce Product High “Encyclopedia Britannica” School don’t allow “Grolier Online” Middl e "World Book Advanced” “Encyclopedia Britannica” “Compton's by Britannica” Parents and kids search together “Grolier Online” K-5 “World Book Student” “World Book Discover” “Britannica Elementary” Parents search for kids “Investigators” “The Stacks” Pre- “World Book Kids” “Britannica Learning Zone” Parents search for kids “BookFLIX” “Family Playground” Articles 17,000, plus 1800 in CD version 22-volume print set 65,000 3,890,000 Numerous across various ecommerce platforms 12
- 13. Parameter World Book Britannica Wikipedia Scholastic Source 4,000+ scholars and experts; 4,000+ including 110 Nobel Prize winners and 5 U.S. presidents (33% of user submissions) 751,426 including your neighbor Children’s Press®, Franklin Watts® imprints, Scholastic imprints and Weston Woods®, Various Authors Online Subscription Price $49.95/year for PC; 9.95/month for Tablet $69.99/year for PC; $1.99/month for Game Free E-commerce Products for tables 2 Apps 60 Apps Wikipedia App 22 Apps Distribution Penetrated: U.S., U.K. Penetrated: Australia, U.K., Latin America; Worldwide Global, 45 language, 150 countries Facebook Likes 23,864 15,007 1,200,000 307,000 YouTube Subscribers 224 1,861 2,141 3,717 Twitter Followers 423 8,106 89,700 69,188 13
- 14. Perceptual MapWho Is Playing Online… Fun Low Educational Content High Educational Content Serious 14
- 15. SWOT Analysis 15
- 16. Strengths - Brand heritage - Lucid content - User-friendly - Encyclopedia standards - Preexisting ecommerce platform Weakness - Lack of e-commerce brand image - Lack of core product image - Little differentiation in products - Content not considered complex enough for older children Opportunity - Internet is the first channel parents use to access fact-based content - People are willing to pay for good online educational resources Threats - Intense competition - Competition from fiction and other activities children can participate in during spare time - Low switching costs for customers - Ease of entry S.W.O.T. 16
- 17. Niche Market Thus… Concentrate on E-Commerce Focus on Niche Target Group Focus on Core Product 17
- 19. VIDEO What Are Parents’ Attitudes to Good Information Resources… 19
- 20. Therefore, We Going to Target… 7 to 11 Year Olds Pre-School Middle School 20
- 21. What Our Main Target Audience Looks Like… Source: U.S. Census Bureau 5-year income estimates for Illinois State Age • 7 to 11 Income • $60,000 Geography • Chicago -land • Other states Occupation •Office worker 21
- 22. Psychographics – Children (Primary Target) Values • Want to have fun! • Like to voice opinion • Exercise pester power if brand excites them Attitude • Fascinated by visual appeal • School environment and friends important influencers • Believe in the importance of reading Behavior • Use technology everyday, supervised or otherwise.. • Playing with toys, video games, surfing the internet, watching TV, attending classes with peers or family 22
- 23. Psychographics – Parents (Primary Buyer) Values • Innovators, esteem seekers – new product offerings • Strivers, conformers, traditionalists – growth in fact-based learning • Anything for child’s development is an investment Attitude • Want children to imbibe fact-based knowledge. • Competitive, book-lovers, good at networking and socializing • Endorse products recommended by social reference groups Behavior • High amount of technology use • Provide gadgets, spend “internet time” with children • Museum visits, sports, nature walks, library visits with children Source: Insight Value Group model for social classes and values 23
- 24. Knowledgeable children that enjoyed the journey as much as the wisdom gained! Confidence and an energetic virtual network. Subscription web services; Variety of products on Online Store from the makers of WB Encyclopedia; Exciting Communities The brand reminds consumers of a name they can trust that is moving with the times using technology. High Performance due to up to date and reliable content. Secure web experience that lets children have fun and collaborate for self- improvement High Loyalty and emotional connect with the brand. Best memories of childhood days. A trusted friend for life. Sense of community. Consumer Based Brand Equity Judgment Feeling ImageryPerformance Salience Resonance Heritage of the World Book name passed on from grandparents or parents to children. Now presented to children 7 - 11 in a language they understand! 24
- 26. Fun Low Educational Content High Educational Content Serious Perceptual Map What Is Our New Brand Position! 26
- 27. Reliable Encyclopedia Contents Holistic Knowledge System Fun + Collaboration What Is Our New Brand Image! 27
- 28. 0 5 10 15 20 25 Explorarion Journey ExplorationAdventure Land Survey of Brand Name Top1 Top2 Top3 N=184Rank Name 1 The Exploration Journey 2 Explorationist 3 The Adventure Land 4 Worldpedia 5 Ask Myself 6 Funclopedia 7 FUNdamentals 8 Genius Work Shop 9 Pocket World 10 Capture It If You Can 11 Magic World 12 The World of Unsolved Secrets 13 Raising Your Spirited Child 14 The Time Machine 15 Curious Critters 16 Curious Cruise 17 Funtasy 18 Pocket Magician 19 Museum of Fun 20 The Adventures of Little Jim
- 30. N=184Rank Slogan 1 Fuel Your Child’s Curiosity 2 Amazing Adventures Await 3 Open Love; Open Fun 4 Open the door to the world for your child 5 Your Child Has Questions? Don’t Google It, World Book It! 6 Carry the World With You 7 Enjoy the Fun of Learning with Your Child 8 Give Your Little Ones the Gift of Knowledge 9 Make Learning Fun 10 Learning Is Fun 11 Help Your Child Explore and Grow, the World Book way. 12 Like a Family Teacher, World Book is there. 13 Seeking Extra from Ordinary, We Do Extraordinary. 14 Show Your Child the Knowledge Path. 15 Your Child Deserves the Best Online Experience 0 20 40 60 80 100 120 Open the door to the world for your child Amazing Adventures Await Fuel your child's curiosity Survey of Slogan
- 33. Let “THE EXPLORATION JOURNEY” Begin… Product Price Promotion Place 33
- 34. How Do Kids Get Information… VIDEO 34
- 35. 31% 33% 27% 6% 5% Kids’ Preference to Different Platforms Book Computer Tablet Mobile Other N = 200 35
- 38. Subscribe for THE EXPLORATION JOURNEY!One click to the world . Start your own journey for only $49.99 a year! How About the Original World Book Website… 38
- 39. The Exploration Journey 39 The Exploration Journey powered by World Book Login My Exploration New App!
- 40. And…Kids Are So Into Games! VIDEO 40
- 41. MobiHunt Thus…Let’s Do Game APP!
- 43. How Much Are Customers Willing to Pay for Our Products… VIDEO 43
- 44. PC & Tablet for 1-year subscription 35% 30% 20% 15% $0.99 $1.99 $2.99 $3.99 Game App 5% 29% 41% 20% 5% $29.99 $39.99 $49.99 $59.99 $79.99 N = 200 44
- 45. What Is Our Price… Product Price PC $49.99/year Tablet Full Version $49.99/year Lite Version Free Game App No Ad. Version $0.99/gam e Ad. Version Free 45
- 47. How We Are Going to Use Media Habits (Parents) Media Path 0 10 20 30 40 50 60 70 80 90 http://www.thedailygreen.com/environmental-news/latest/kids-television-47102701 N = 200 47
- 49. Product/Service. The Exploration Journey powered by World Book is your most trusted knowledge companion and fuels your child’s curiosity.
- 50. HOME COSTUM E
- 52. Email -Newsletter • Target: • Teachers • Content: -Newsletter -Direct Email • Target: • Parents • Home School
- 53. Google & SEO • Hire PR Agency write some articles in Blog • Combine Press Release with SEO • Take more keywords and spots on screen 53
- 55. THE EXPLORATION JOURNEY powered by World Book @ www.explorationjourney.com EXPLORE… 55
- 56. ONE CLICK to the WORLD The Exploration Journey powered by World Book 56
- 57. How Do Our Posters Work… Before After 57
- 59. 59
- 62. 62 VIDEO
- 67. TV 1
- 68. Follow Up… TV 2
- 69. What Do Customers Think About Our TV Commercials… VIDEO 69
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- 74. 74
- 76. Budget 76
- 77. 1.15% Of Annual Revenue 6716 Online Subscriptions Break -Even 77
- 78. 78
Hinweis der Redaktion
- Consumer insight: low brand awareness
- Other online resources like national geographic, Jstor.com, Yahoo
- The business has to predominantly be online and convey that to the consumer through its brand
- Need to adjust competitors
- Videos - parents in different age group have different attitudes to good information source.
- School and other groups influence, so we can talk about collaboration. Search process important so we target our ads and content to excite parents as well.
- Need to adjust competitors
- Say that exploration journey is the flagship app that links to website. Define what parts of website are paid and what are unpaid.
- Say that exploration journey is the flagship app that links to website. Define what parts of website are paid and what are unpaid.
- Sandy will ask us to have price packages, as opposed to one price alone.
- Now imagine that, I am a kid, I am attracted by “the exploration journey”, so the first move I am going to make is to ask my parents: mum, what’s that, As you know, kids are our primary target, their parents are our primary buyer, the decision maker.What’s our decision maker’s preference of media. They used Facebook and online news to gather information most often every day.
- Through our primary research, people use Google to search information first.