Grand Horizons Inc. Publisher Association November 5, 2004 SUBJECT:DEVELOPING OF MARKETING STRATEGY NO. 0085/05.11.04 Under the request of Mr. Parkinson, I have the honor to inform you about my thoughts and suggestions as to developing of promotional strategy for the book Bonus! How to Meet and Beat Your Sales Targets Year after Year, a Guide to Successful Sales. of Mr. Bennett Toft, which we are going to publish in November. First of all, it is very important for creating of a successful promotional plan to define our consumer market properly.
As the book is popular-economical and educational, I consider that our potential customers are prevalently different economy specialists, businessmen, private sellers and distributors, students of economy departments, all those, who are interested in modern tendencies of economy and marketing. Actually, being quite legible and readable, the book will definitely attract attention of rather wide range of readers, starting from school students and ending with directors and chief managers of big business organizations. That is why in our marketing strategy we will concentrate on promoting the book in usual big bookstores and book selling places, without creating of any special promotional tricks. In general, I would offer to arrange our promotional activity in the following directions: direct contact with bookstores and the main wholesalers, providing them with our promotional materials, advertising in internet and mass media, arranging of presentation party with the participation of journalists and reporters, and organizing of authors tour in some cities of the country for delivering promotional lectures and book signing sessions. As the release date is 19th of November, we have definite lack of time. That is why we must start our work as soon as the promotional plan will be approved by the Publishing Committee.
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Here is the list of my suggestions on what we have to undertake BEFORE the release date: 1. Together with publishing of the book, we have to produce some promotional materials. My offer is to prepare posters, pocket calendars and paper book-markers. The posters, informing about the book and its author, will be delivered to numerous bookstores to advertise the book, the calendars or book-markers will be given for free to everybody, who will buy a copy of the book from the first edition. As to the designs and layouts of those three items, I have contacted Glomar Marketing Agency and discussed these points with the Director, Mr. Jonathan Carew.
Glomar is ready to assist us in all the issues, connected with our promotional program. 2. As soon as possible we must send our representatives with promotional materials to the biggest bookstores of the cities of the country. Glomar promised to hire the agents in 35 principal cities of the country, who will visit from 15 to 35 bookstores and a number of university libraries during one week, have personal promoting communication with the managers and hand them our ad materials. Detailed list of agent promotional program in every city will be finalized later on. 3.
With the help of Glomar we can arrange posting of our promotional materials and especially our new catalogue, which includes the information about the book, to our main wholesale distributors in our region: it will stimulate their interest to our books. 4. Glomar can also help us with establishing of new contacts with mass media for placing ads about coming book. Mr. Carew promised me to design a good media kit for us and select a range of the most efficient media contacts. We will try to appear in media news with the visuals, informing about our new release and inviting to our promotional events in the cities, located along the Atlantic shore: from Miami to Boston. 5.
A great importance is to advertise our new book in internet. In our business this is one of the most effective ways to inform the customers and to boost sells. First of all, with the help of specialists we will improve personal site of Mr. Bennett Toft and place the ads about his new release. Besides, we will establish contacts with some online booksellers, like Amazon.com or eBay.com. Nowadays, e-trade becomes the most efficient way to sell the goods, and there is a great deal of advantages of such method of distributing.
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First of all, it is a great opportunity to place a good piece of information about our book, our author and our association in one of the most popular sites, which is visited by millions of customers. Second, it will help to attract not only national, but even worldwide attention of potential readers of our book. Besides, there is almost no paperwork and almost no returns. But the disadvantage is a high price for such commerce: for example, Amazon takes a fee in amount of %55 of the price from each sold copy. At the VERY DATE OF RELEASE on Friday November 19th, we will arrange a big presentation in Vesta night club. We will invite a number of journalists and reporters, possibly, some celebrities and popular show-men to join our presentation.
Glomar may help with contacting of NBC, CBS and Fox Channels representatives, so we can count on appearing in evening news. Presentation party program will include an official part, press-conference, a little signing session, stand-up meal and little concert. In the presentation we can distribute some amount of flyers, offering %20 of discount for buying a new book. During the weekend AFTER the release we will go on promotional work as the following: 1. The representatives will control the sells and presenting of promotional materials in principal 35 cities. The information about two first days of selling will be centralized in Glomar, specialists of which will create additional promotion plan, according to the situation. 2.
The author (with first copies of his book) will personally visit some principle bookstores in Washington D.C. and our main distributors – the key people, who will sell the book. It would be very effective, if he would make first individual advertisements himself, and also if he personally would offer some discounts for wholesales: it can be %10 for buying more than 50 copies, %15 for buying more than 100 copies, and %25 for buying more than 500 copies of the first edition. 3. Together with Glomar we will arrange internet selling of the book. A special section will be opened at Mr. Tofts site, allowing people to buy his new book online.
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Besides, we will provide Amazon and other selected sites with carefully checked and fully detailed information about our book (authors biography, price, reviews, feedback, etc.).
We will open online discussion group at Yahoo! or other similar internet-company, offering creating of online groups or mail-lists, in order to receive first reaction of readers on the book. 4. During two first days we will pay the deepest attention on writing and publishing of book reviews. Annually 40,000 books are published in the USA, and only %10 of them is reviewed. We will hire specialists to write different sorts of reviews to be placed at as many as possible information sources, like internet and mass media. For example, we can contact Mr. Jim Cox, an Editor from famous Midwest Book Review, who will include our book to American book-review list.
If during two first days of sells everything goes on swimmingly, I would offer to arrange a tour for Mr. Toft to promote the book personally in other cities and to participate some signing sessions. After long consultation with Mr. Carew from Glomar, we can suggest arranging of the tour for 2 weeks, from November 22nd to December 5th, which includes 13 cities along the Atlantic shore: Miami, Orlando, Atlanta, Richmond, Cincinnati, Columbus, Chicago, Detroit, Cleveland, New-York, Baltimore, Philadelphia and Boston. Mr. Toft will stay for one day in each of these cities and participate in special sessions in 2-3 principal bookstores or libraries, which will be arranged with the help of our representatives. He will have to deliver some promotional speech or reply on the questions of reporters, and also sign copies of his books for the readers.
Director of Glomar also promised me to arrange participation of Mr. Toft in a night talk-show in Chicago (details will be finalized later on).
In any way, a special team will be created to work over suggestions and practical consultations for Mr. Toft concerning the instructions on behavior in front of reporters or spectators in a live show. The author will be provided with various samples of promotional speech for him, besides specialists will create a list of 20 possible questions from readers of his book and give full literary answers. Those are our suggestions on promotional plan for coming four weeks.
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If any additional means will be demanded, it is possible to arrange some more tours to other cities of the country (like Sacramento and San-Francisco); also it can be promising to arrange some internet conferences and online interviews with the author, which are so fashionable recently. Finally, there is the most important and sensitive point: expenses. Our own extra-spendings for this ad campaign will include: expenses on printing of promotional materials (about $ 15,000) and costs of their posting (about $ 250).
Glomar Agency offers the following prices for their services: promo materials designing – $ 1,500; media kit selection and other assistance – $ 5,500; work of representatives – $ 385,000; arranging of promotional party – $ 170,000; expenses on internet promotion – $ 2,500 (without sell fees); hiring of writers for promo reports and reviews – $ 3,000; arranging of the tour from $ 550,000 to $750,000; other assistance – $ 15,000. In order not to scare the members of the Committee, I will not sum up the expenses. Mr. Carew leaves them all as discussable.
Please, inform me as soon as possible about your decisions concerning these suggestions on promotional plan, because we need to start our work at once. Andrew Baxter Marketing Manager GRAND HORIZONS Inc..
