1. CORPORATE OBJECTIVES To build awareness of Video Management Limited and its products in the UK. To penetrate the UK market for management development and increase sales of Video Management products and the number of Video Management customers in that market. Past Performance in the UK 1996 1997 1998 Total sales (no. of videos) 98 122 134 No. of customers 61 64 74 T / O? 2. (A) MARKETING AUDIT - EXTERNAL (1) Competition Not only from other producers of video programmes but also course providers / seminar organisers in the UK.
Video - Harvard - marketed through HBR in the UK - TEN - professional services - Sunday Times - occasional series marketed through newspaper - BBC - Others - these more often than not are basic "how to" videos of poor quality and credentials Courses / Seminars - Business Schools Conferences - Hawks mere, Euromoney, etc. (2) Market Size High emphasis on continuous development, need to keep up to date on management thinking, strong emphasis on training by companies, need for individuals to continually hone and upgrade management skills Market potentially vast (3) Technology Possible threat over time from other media - notably at this stage DVD. Currently, however, insufficient access to DVD facilities yet most households / businesses have VCR facilities. Requirement to prepare for future - look at other formats - computer companies e.g. Dell potentially big players in that market - possible affinity deals. (B) MARKETING AUDIT - INTERNAL (1) Product Quality product, well known in Europe. Highly regarded Professors from best business schools- INSEAD / Wharton, etc INSEAD / Wharton endorsement Priced accordingly (2) Operation Well equipped Prestigious premises Back up from Brussels Operational efficiency Fast response Need for staff to enhance selling skills - training need.
3. SWOT Strengths - Quality product Operational efficiency Established reputation in Europe Quality back up from Brussels Good premises and equipment Good staff Convenience of video as a medium Weaknesses - Effectively start up in UK Limited database at commencement Opportunities - Vast potential of UK market Continual development / training a recognised necessity to compete Competition for jobs - need for individuals to improve / develop management skills (see growth in MBA courses) No overwhelming opposition Threats - New technology 4. THE MARKET (1) Market Segments Segment Main Contact Type Value Individuals Single shot contacts, largely Low mail Benefits sought: keep abreast of latest management topics, cost effective, passive, convenient, high quality, 'best' available, emotional benefits of association with best business schools, efficient supply Corporate A business development Medium approach with a mix of mail and phone over a period of time Benefits sought: top quality content and production, added benefit for staff, good training development material resource centre / library Affinity Relationship development High phoning for appointment followed by meetings Benefits sought: benefit for members, customers, added value Each segment can be further broken down by product interest e.g. Finance, Human Resources, Marketing, etc. Differential benefit - Quality of production Credentials of Professors Association with INSEAD, Wharton How else can customers obtain these benefits? Courses / Seminars costly (travel, time out of office, course fees, accommodation) More often than not London based Time consuming Other videos few compete on quality No real penetration by competitors in the UK Books Time consuming 5. THE PRODUCT High quality - production, Professors, INSEAD, Wharton Wide range of topics - some more fashionable than others - topics do move in and out of fashion e.g. BPR, TQM cf internet, globalisation Implications on product life cycle: - - important to create awareness during introductory phase - during growth phase emphasise benefits not shared by competition 6.
MARKETING OBJECTIVES Increased product awareness in UK Increased number of sales Increased number of customers Build relationships (i) Positioning Need to position Video Management clearly for the UK market from the outset Introductory / Launch mailing an opportunity to do this. (ii) Targets Year 2000 2001 2002 Total sales (no. of videos) 250 350 500 No. of customers 150 200 250 No. of subscriptions 15 25 35 ( ) Strategy Build awareness - advert / insert /editorial where possible - Management Today, Director (IoD) Ambassador (AMBA) Law Society Gazette AMBA - Individuals / possible affinity 7000+ names on database See AMBA membership survey Potential for seminars e.g. Leadership, Manfred Kets de Vries Shared requirements of AMBA members from the Association - (i) networking (ii) CPD Possible affinity deal with Association MBA Mailing Mid September 1999 With on-going follow-ups A 4 personalised letter A 4 personalised survey in fax back format A 4 Business Basics flyer Reply paid BRE C 4 Outer window envelope takes A 4 unfolded The mailing quantity will be around 4000 released in stages in order to assess response. Mailing positioned around the launch and introduction of VM in the UK. The proposition will be to return the survey in order to: - o Receive news of the latest Video Management material o Receive special offers for MBAs o Purchase any single Business Basics title for lb 50 when survey returned by October 1st (?) o Register interest and claim 10% discount off Video Management videos selected Survey fax back will include ordering device for Business Basics videos. Customers Existing customers / warm prospects from Brussels database Customer Mailing (include warm prospects) Early October This will introduce: - o Video Management UK o The enhanced service available from UK based operation o The newsletter (see below) To contain a brief survey to collect information. Newsletter To inform customers of developments, videos in production and planned, details of any seminars by Professors, biographies of Professors, etc.
November / February/May / August - provisionally. Recommend a Colleague material To be developed. Professional Firms UK database lists top 500 UK law firms - test response of professional firms using "Legal 500."Winning Together with Services" (1 & 2) already registered with Law Society for CPD. Register also: - Managing People The Leadership Challenge (1 & 2) Mergers and Acquisitions Boosting Performance Through Internet Strategies Understanding Financial Statements Marketing Planning Interpreting and Using Financial Statements Creating Customer Value Strategic Marketing Stress Legal 500 Mailing Early November 1999. This will introduce: - o Video Management UK o CPD registration o Video programmes as a convenient means of acquiring CPD points Include brief survey to collect information. Follow up with flyers.
Build Database Subject Source UK quoted companies Company Refs CD Rom Local Authorities Municipal Year Book IPD Members IPD Directory.