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EXECUTIVE SUMMARY DOMINIKA REKAS WORD COUNT: 988
CONTENTS
1. 3. 5.
INTRODUCTION
THE BIG IDEA
MARKET
2.
THE PROBLEM
4.
BRAND DNA
6.
COMPETITIVE LANDSCAPE
7. 9. 11.
MARKETING AND COMMUNICATION STRATEGY
KEY RISKS
CONCLUSION
8.
FINANCE
10. 12.
FUTURE GROWTH
APPENDIX
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1.
INTRODUCTION
Through an in-depth research study of Digital Connectivity and Generation Z, a new business venture takes on the storm of youth activism and their growing sense of social responsibility. The executive summary will explore the business plan for ‘Rising’ through problem analysis, big idea overview, market research and brand development overview.
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“THE INVESTORS OF THE FUTURE WILL BE LESS OBSESSED WITH SHORT TERM ‘SHAREHOLDER VALUE’. INTANGIBLES WILL MATTER MORE, AND ORGANISATIONS WILL BE ASSESSED ON THEIR SOCIAL AND ENVIRONMENTAL CONTRIBUTIONS.” - (JONES, 2000)
2.
THE PROBLEM
The growing demand for social change, as is reflected through trending climate change movements such as Youth 4 Climate and Extinction Rebellion, has reached an all-time level of urgency and uncertainty. Environmental issues were brought to the society’s attention with claims such as there are supposedly only 12 years left to change the climate and prevent a catastrophe (Watts, 2018) . In the UK, political uncertainty is a key focus of the media, which will inevitably reshape the futures of UK citizens (Tara, 2019). In March 2019, over 1 million people attended the March for Peoples Vote in London (see image), further proving the divide in consensus in the UK (Marsh, 2019). This rise of these social movements sheds light on the inequalities that the society faces today, and the need for action to better the society.
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3.
THE BIG IDEA
Through extensive idea generation, a social enterprise model was adopted with the core aim to inflict positive change on the society. The big idea is to create an online and offline publication giving Generation Z the platform to share their stories around the political, social and environmental issues that are affecting them.
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“It’s a mistake now to think ‘I’m going to launch a magazine’ because you now have to build a brand that’s going to talk to people who want to engage with that brand, and you need to do that through multiple channels. “ -Alex Smith, Ideas on Paper owner
As primary research identified, it’s not enough to just create a magazine now. Rising will also have a membership feature organising events for the socially responsible members, aiming to inform and actively take part in positive social change. To create the community aspect, Rising will also sell merchandise including totes bags with slogans ‘I am the rising’ and t-shirts with the Rising logo. 9
4.
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BRAND DNA
Through the brand essence wheel, Rising established the branding identity as reflected through all communication channels.
VALUES
PO
caring, sociable, educated
MISSION
GE
CONSUMER IDENTITY
VISION
We believe that by raising awareness of the everyday issues we face; we can change the world for future generations and live in a safe and equal society.
TO
The Rising starts conversations and educates on the everyday inequalities. We bring people together and make positive change happen now.
NA
O , e, RS ry nat PE ng ssio ed A pa bl m ou Co Tr HOW THE BRAND MAKES ME LOOK
W STR er efu APL IN s rev e, re E olt sist &
HOW I WOULD DESCRIBE THE PRODUCT
UA ional, t LANG a c u d nt, E ed Urge pinionat O
Ris SITI O i to com ng b NIN ge m ri G po ther unit ngs sit i ive to m es ch an soci ake ge al
change, Positive social ucation community, ed
You NE OF VO ng, Info Confi ICE rma den tive t,
WHAT THE PRODUCT DOES FOR ME?
FUNCT ION BENEFI AL TS Co
mmun a ative, C l, h Makin ange g
Inform
AL N O I OT FITS M E NE al BE rson nt Pe lme fi Ful
HOW THE BRAND MAKES ME FEEL
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5.
MARKET
MAGAZINES
The term ‘print is dead’(Odell, 2018) is often used in the publishing industry, with the circulation of print predicted to drop by 15% between 2018 and 2023 (McGrath, 2018). Nonetheless, after an in-depth analysis into the macro environment, there is some scope with the rise of digital connectivity and the success of magazine online readership. The Guardian for example received a daily average of 3,347 readers in 2018, compared to 741 print readers, suggesting digital content is potentially where the publication market is heading (News Works, 2018). 12
YOUTH PUBLICATIONS Trend reports also identified the rise of zine culture (Shutterstock, 2019), as reflected in the fashion industry with the Yeezy brand Calabasas collection zine (Sawyer, 2017). The youth specifically relate to this type of content with publications emerging targeting Generation Z. Gaffer magazine, covering football, fashion and music, have successfully launched in 2019 and already gained over 53K followers on Instagram post-launch.
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6.
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COMPETITIVE LANDSCAPE
Due to Rising primarily being a publisher, the magazine industry has been analysed in depth to scope the potential. Ten competitors such as Boshemia, School of Life and Positive News have been identified with their USP’s as a key point of comparison. As established through Porters 5 Forces, the competitive rivalry can be classed as moderate due to having the potential of collaboration with these publishers.
MAINSTREAM Vice
Dazed
High Snobiety
The Tab Womankind
CAUSE DRIVEN
MONEY DRIVEN
The Big Issue Positive News Sister Boshemia
Huck
School of Life The Opal Club
No Man’s Land
Shado
The Earth Issue
NICHE 15
ONLINE ONLINE
7.
MARKETING AND COMMUNICATION STRATEGY
Digital strategy is a key focus for Rising, especially due to targeting Generation Z, also known as the Digital Native. The prelaunch campaign #wearetherising aims to create initial buzz for the brand and form the foundations for the community.
A key piece of communication will be the search for contributors for the publication, forming initial relationships with colleges and universities and encouraging the students to join the movement.
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Post-launch the #risingissue campaign will be used to educate about trending social issues such as climate change and the political situation. The template will be shared across social media encouraging sharing and editing.
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OFFLINE OFFLINE
Rising will aim to have a strong offline presence through the community. In June 2020 the launch event will take place introducing the brand to the local community and represent the values we hold.
A protest on climate change will take place to initiate action in the community.
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Another key campaign is the collaborative event with Boshemia, hosting a panel discussing gender inequalities.
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8.
FINANCE
SALES FORECAST Sales forecast has been predicted based on primary research (such as interviews with Left Lion editor-inchief and also the Ideas on Paper bookstore owner) alongside secondary research to support findings (eg. Lewis, 2016). Year 1 Sales – 395 Copies Year 2 Sales – 975 Copies Year 3 Sales – 1,610 Copies
PROFIT + LOSS Rising will break even in net profit by the third year making £7,010
CASH FLOW With initial outgoing costs putting the business in minus profit, cash flow injections will keep the business afloat. Personal Investment: £2,000 Crowd Funding: £2,000 20
DBACE: £20,000
9.
KEY RISKS
INTERNAL
RISK
LIKELIHOOD
Lack of sales of print issues
MEDIUM
Lack of membership subscriptions
MEDIUM
Too much workload for the director
HIGH
EXTERNAL RISK
LIKELIHOOD
Unexpected costs/ Not raising funds
MEDIUM
Lack of distribution channels
MEDIUM
Lack of need for activism and social change
LOW 21
10.
FUTURE GROWTH
Looking past the 3-year strategy, a key focus for future growth is to establish contacts with distributors. Having a DIY distribution model in the first 3 years, establishing external distributors will free up time to work on the editorial and events activities. Another potential growth would be taking on new activities such as introducing a podcast, hosting a festival or even expanding globally to new markets.
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11.
CONCLUSION
We are the rising and the generation of change makers. Join the movement and let’s make this world a better place for future generations.
LET’S BE THE CHANGE.
#WEARETHERISING
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12.
APPENDIX
REFERENCES Jones, Robert., 2000. The Big Idea: Today’s marketplace is a war of ideas. Unless you stand for something, you won’t stand out. Harper Collins Publishers: London, pg 4 Lewis, Angharad., 2016. So, you want to publish a magazine? London: Laurence Kind Publishing Marsh, Sarah., 2019. Brexit march: ‘1 million’ rally for people’s vote - as it happened. The Guardian [online], 23 March. Available at: https://www.theguardian.com/politics/live/2019/mar/23/brexit-hundreds-of-thousands-expected-to-march-for-peoples-votelondon-live-updates?page=with:block-5c9643bde4b0a5422e63a37f [Accessed 23/3/2019] McGrath, Rebecca., 2018. Magazines - UK - December 2018 - Market Size and Forecast [online]. Available via: Mintel [Accessed 15/3/2019] News Works, 2018. Readership [online]. News Works. Available at: https://www.newsworks.org.uk/resources/readership [Accessed 17/3/2019] Odell, Amy., 2018. Magazines Are Dead [online], 12 December. Available at: https://www.businessoffashion.com/articles/ professional/magazines-are-dead-but-media-isnt?utm_campaign=e622eecb30-magazines-are-dead-media-isn-t&utm_ medium=email&utm_source=Subscribers&utm_term=0_d2191372b3-e622eecb30-429816425 [Accessed 16/3/2019] Sawyer, Jonathan., 2017. Kanye West Reveals His New Calabasas Zine. High Snobiety [online], 23 October. Available at: https:// www.highsnobiety.com/2017/10/23/kanye-calabasas-collection-2-zine/ [Accessed 14/3/2019] Shutterstock, 2019. Shutterstock 2019 Creative Trends. Shutterstock [online blog], Unknown. Available at: https://www. shutterstock.com/blog/trends/2019-creative-trends [Accessed 20/2/2019] Tara, John., 2019. Brexit vote: Theresa May’s deal overwhelmingly crushed by lawmakers for second time https://edition.cnn. com/2019/03/12/uk/theresa-may-brexit-deal-vote-main-gbr-intl/index.html [Accessed 28/2/2019] Watts, Jonathan., 2018. We have 12 years to limit climate change catastrophe, warns UN. The Guardian [online], 8 October. Available at: https://www.theguardian.com/environment/2018/oct/08/global-warming-must-not-exceed-15c-warns-landmark-unreport [Accessed 28/2/2019]
IMAGE REFERENCES
[Pseud.] YowBuzz, 2019. A Huge Climate Change Movement Led By Teenage Girls Is Sweeping Europe. And It’s Coming To The US Next [digital image]. YowBuzz. Available at: https://yowbuzz.com/a-huge-climate-change-movement-ledbyteenage-girls-is-sweeping-europe-and-its-coming-to-the-us-next/ [Accessed 20/3/2019]
[Pseud.] Nurimage, 2018. The future is female [digital image]. Twitter. Available at: https://twitter.com/nurimage/ status/1079008761690365959 [Accessed 5/2/2019]
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Marsh, Sarah., 2019. Brexit march: ‘1 million’ rally for people’s vote - as it happened. The Guardian [digital image], 23 March. Available at: https://www.theguardian.com/politics/live/2019/mar/23/brexit-hundreds-of-thousands-expectedNottingham Trent University to-march-for-peoples-vote-london-live-updates?page=with:block-5c9643bde4b0a5422e63a37f [Accessed 23/3/2019] School of Art and Design
Ethical Clearance Checklist for individual student projects [Pseud.] Yancao, Advertising [digital image]. Yancao. Available at:this http://yancao.info/yancao-images.html To be completed by the student for an2019. individual project that involves the collection of primary data includes images, drawings, photographs, [Accessed 28/3/2019] questionnaires and interviews. Please complete this document following the guidance in the School of Art and Design Ethical Guidelines and Framework for Research and Practice Undertaken by Students.
Section A: About the research Stack Magazine, 2019. Football, fashion and music in Gaffer magazine [digital image]. Vimeo. Available at: https:// vimeo.com/322856976 [Accessed 29/3/2019] Name: Dominika Rekas
Programme of Study: FMB Module Title and Reference Number: Strategic and Creative Solutions Name of module leader/supervisor responsible for the management of the project: Pinky Bazaz, Nina Faresin Nickerson, Jackie., 2017. An exclusive first look at Kanye West’s new November Calabasas2018zine [digital image]. Dazed. AvailDuration of project: January 2019 able at: http://www.dazeddigital.com/fashion/article/37837/1/kanye-west-new-calabasas-zine-jackie-nickerson-tremaine-emProject title: The Digital Self
ory-melissacollett [Accessed 13/3/2019] Section B: Training and experience
Have you had previous experience of or been trained in the methods employed to collect data, and/or discussed with your supervisor? Have you been informed, given guidance, had issues outlined in relation to research ethics and consideration in relation to your project?
yes
no
yes
no
Grout, Vicky., 2019. Positive News Jan-Mar 2019 issue [digital image]. Vicky Gout. Available at: https://www. vickygrout.com/positive-news-jan-mar-2019#1 Section C: Methodology/Practice/Procedures[Accessed 27/3/2019] Does your proposed study involve procedures which are likely to cause physical, psychological, social or emotional distress to yes No participants or yourself? Does your proposed studyChris., involve2019. the use of Were hazardous materials, other than those covered by the School Health and Vice. yes Availno Bethell, We at the Big, April Youth Strikecurrently for Climate in London [digital image]. Safety able at: procedures? https://www.vice.com/en_ca/article/d3nzvk/youth-strike-climate-fridays-future-april-2019-london-protest-photos [Ac-
cessed 17/4/2019] Section D: Ethical checklist
Does your project involve observing/questioning/the use of people in any way? Yes Please complete the remainder of the form No Go straight to Compliance with ethical principles and Declaration Does your study involve vulnerable participants as described in the Student Ethical Toolkit? yes no n/a Does your study involve observation and/or recording of identifiable participants without their knowledge? yes no n/a Vakseen, 2018. Boshemia Magazine #VakseenArt [digital Vakseen. Available Will participants[Pseud.] give informed consent freely and be fully informedFeatures of the study and of the use of anyimage]. data collected? yes no at:http:// n/a vakseen.com/site/boshemia-magazine-features-vakseenart/ [Accessed 27/3/2019] Will participants be informed of their right to withdraw from the study? yes no n/a Will all information on participants be treated as confidential and not identifiable unless agreed otherwise in advance yes no n/a and subject to legal requirements? Will any recordings of participants be securely kept and not released for use by third parties? yes no n/a Will storage data comply with the Data Protection Act 1998? yes no n/a
DBACE, 2019. DBACE Awards. The Deutsche Bank Awards for Creative Entrepreneurs [digital image]. Available If you have selected an answer shaded in grey, you must submit a full application to the Subject REC or modify the project. A full submission at: https://dbace.org [Accessed 20/2/2019] to the Subject PREC comprises of: this form, a project proposal, an additional statement of up to 500 words outlining the ethical issues raised by the project and the proposed approach to deal with these.
Compliance with Ethical Principles
with the ethical checkpoints and you do not need to seek formal approval from the Subject PREC. ETHICS
If you have completed the checklist to the best of your knowledge without selecting an answer shaded in grey, the research is deemed to conform
Please sign the declaration below, and lodge the completed checklist with your supervisor.
Declaration
I have read the Ethical Guidelines and Framework for Research and Practice Undertaken by Students. I confirm that the above named investigation complies with published codes of conduct, ethical principles and guidelines of professional bodies associated with the research discipline. Name of student: Dominika Rekas
Signature of student ……………………………………………………………………………………………….
Signature of supervisor/module leader ……………………………………………..…………………………..………. Date ………………28/11/2018……………………………..
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