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
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
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
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
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
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
29.
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
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
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.