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Business Plan Bizbuzz Essay

4528 words - 18 pages

EXECUTIVE SUMMARYThe Entertainment and Media Industry (E & M) in India is a rapidly evolving as a sector which shows great potential. It has been estimated that the E&M industry is poised to grow at 19% compound annual growth rate (CAGR) to reach Rs 83,740 crore by 2010 from its present size of Rs 35,300 crore. The E& M industry can be divided into various segments with print media forming a very important part of this segment.The Print media industry consists of the newspaper dailies and magazines. According to the NRS survey 2005, the reach of the print media as a proportion of reading population (15 years and above) is just 27% whereas the global average is 50%. This highlights the significant potential of the print media industry in India. Also with the literacy rates increasing slowly, growing need of reading content and the average time spent on reading going up from 30 minutes to 39 minutes daily, shows a vast untapped potential of this segment.The present scenario favors the growth of the print media industry hence this is the right time to launch a business magazine, BIZBUZZ which caters to a specific class of students. Our target audience would be students who are first year B-school students and students who aspire to wet their feet in the management world. This also gives us the first mover's advantage in the market as such kind of a magazine doesn't exist in the market.BIZBUZZ is a sister concern of Economic Times of India which is owned by Bennett and Coleman. The magazine will be published by Vision Publications which has been launched by the editors of Economic Times.BIZBUZZ is an attempt by its promoters to stand out in the market through its quality content and a language which simplifies the understanding of the preliminary concepts of management. This will be achieved by defining our marketing objectives and strategies clearly along with a strong and cost effective sales and distribution strategy. Also constant feedback from our readers regarding the issue, regular monitoring of our content and a motivated sales team will help us enter the market with a roar.SITUATIONAL ANALYSISThe situational analysis will help us understand the current market, its players and the trends. The analysis will also help us understand the gap in the market and how we as a product fill the gap.2.1 MARKET OVERVIEW AND TRENDS:The Media and Entertainment Industry is a huge and segmented industry with the print media section as one of its segments. The phenomenal growth in the entertainment and media sector can be attributed to economic growth, rising income levels, consumerism combined with technological advancements and policy initiatives undertaken by the Indian government.Fig No: 1 (Source: Pricewaterhouse Coopers Global Entertainment Outlook 2005-2009)The above figure shows the projected growth rates of the entire E&M industry.The Print media market in India is as follows:Current size: Rs 10,900 croreProjected size by 2010: Rs...

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