The Daily Star Complete Marketing Strategy 

Introduction

The Daily Star is one of the oldest and prominent players of the daily newspaper industry of Bangladesh. It’s the most circulated English daily newspaper also. Beyond its immense popularity as a daily newspaper, it’s facing some rivalry problem in recent times.

They have been up to date with the technological changes happening in the world and also taking careful measures. But the main problem is these steps are not making them stand out in the market and they could not create a strong foothold.

There has been serious pressure from the online newspapers also as the target market of The Daily Start is tech friendly and nowadays they heavily rely on social media and online platforms for getting news. Online news portals are spreading false rumors and stealing news which is also creating a negative perception of people regarding the newspaper industry of Bangladesh.

Our main objective was to give a solution to this problem and recommend how The Daily Star can sustain in the long run and create a strong foothold in the market. Our recommendation also signifies the way The Daily Star can be not only the most popular newspaper in the printed newspaper industry but also the online news portals.

As the world has now become open and people want an easy way of getting information, Word of mouth has shifted to the world of a mouse. So, we think to implement our marketing strategies, The Daily Star can remain a prominent player in the newspaper industry of Bangladesh and sustain its legacy.

Situation Analysis

1.1. Market Analysis

English Newspaper industry in Bangladesh is not that longstanding. The New Nation started its journey in 1981 and in later periods 5 other English daily Newspapers have entered the market.

The market is still at its growth. Economically Bangladesh is getting stronger and many foreign brands are entering into the market. They heavily rely on local English Daily Newspapers. Young generation also follows English newspapers in social media.

Price, Circulation and foundation Year of English Newspapers

With an extra supplement of 4 pages for Dhaka city once in a week.

With an extra supplement of 4 pages for greater Chittagong thrice in a week.

With an extra supplement of 4 pages for greater North once in a week.

With extra supplement of 4 pages for greater South once in a week.

The Daily Star is the leading English newspaper of Bangladesh. On January 14, 1991, The Daily Star established its place in the media scene of Bangladesh. As a truly independent newspaper, its journey was started with a sense of challenge and a feeling of humility to serve this nation.

The newspaper made its debut at a historic time of Bangladesh. With the fall of an autocratic regime, the country was well set to begin its journey towards establishing a democratic system of government.

The Daily Star carries on with the long-term responsibility is to strengthen public opinion on the democratic system and its effectiveness.

Mission

Being the first to know what’s happening around you from the largest and most read English daily newspaper of Bangladesh.

Being the local company, it has the cost advantage and can offer products at lower prices than the competitors of a foreign brand. Though it prices a little bit high because it provides the highest number of pages among the English newspapers in Bangladesh.

1.2. Value offered to the customer

The Daily Star believes its uniqueness lies in its non-partisan position. Its strength is in taking the position of neutrality in conflicts between good and evil, justice and injustice, right and wrong, regardless of positions held by any group or alliance.

The paper believes to report events objectively without any fear and favor. It is highly committed to serving the people. That’s why people of Bangladesh respect “The Daily Star”.

Besides advocating rule of law, human rights, gender issues, national interests, press freedom, transparency and accountability of people in the administration and in the world of trade and industry creates its values to the society. The newspaper has never compromised whatever the costs. Thus it is bound by its norms and values.

During different national crises, the newspaper played an important role in raising a voice of awareness to solve people’s sufferings. As it remains alert to its social duties, The Daily Star frequently organizes roundtables, seminars, and discussions on the issues. It also works closely with the civil society for this end.

To promote young talents, The Daily Star organizes debates and different competitions at school and college-levels and awards those who show excellence in different fields.

A detail description of The Daily Star in terms of value offered to the customer

Consumer what gains for the benefit is weighed against the cost the consumer must pay to acquire the benefit.

This customer value is weighed against the customer values assigned to similar products and services that would provide a similar benefit.

Value reflects the perceived tangible and intangible benefits and costs to customers.

Value can be seen as primarily a combination of quality, service, and price called the “customer value triad.” Value increases with quality and service and decreases with a price.

Besides running news reports on different issues, The Daily Star carries special reports, human-interest stories, features, articles, and essays written by its staffs and other professionals and talents from across the country and abroad. It’s updating 24/7 with breaking, political, business, entertainment, sports, and crime news.

1.3. SWOT analysis

Strengths:

• Authentic/Real News provided by The Daily Star.
• The Daily Star most important part is Social Activities.
• The Daily Star Client gets good feedback to publish the Advertisement.
• The Daily Star Page make up is nice.
• Special Supplement such as Focus on Priority Banking, Start youth, and showbiz that is so much attractive to the reader.
• The Daily Star is also an internet base paper and it’s so much attractive to the executive level.

Weaknesses:

• Expensive printed copy of the newspaper.

• Costly distribution channel.
• Can’t reach their valuable target audience sometimes.
• Lacks frequency in the activity of social media platforms.
• Lacks news centered on youth and digitally literate users.

Opportunities:

•          Highly active social media platforms.
•          Booming internet users in Dhaka city.
•          More conscious youths.

Threats:

•          Stealing and copying news without recognizing it.
•          Unethical news presentation of many newspapers.
•          Negative journalism.
•          Lack of authenticity of news which is eventually creating mistrust among mass people.
•          Global news portals.
•      Different Facebook pages who are providing life hacks, technological information etc. Like, Business Insider, Times Higher Education.

1.4. Competition

There are so many competitors in the newspaper industry. But all are not a most strong condition. The main competitors of The Daily Star are The Independent, The New Nation, The Daily Observer, The Good Morning, Daily Sun, NEW AGE, Daily Asian Age and also online news portals. Among the entire competitor, The Independent and The New Nation and Dhaka tribune are the closest competitors.

Online Newspapers: World is changing dynamically, as a result, Bangladesh is changing. It is time for the new generation of Bangladesh to be heard, for their vision for their country to be promoted. Many online English newspapers are published nowadays. But most of the online newspaper editors are not that much educated to write in the right way. Dhaka Tribune is the most successful online newspapers in Bangladesh.

The editorial team is very committed. But The Daily Star Newspapers are the oldest English Newspaper in Bangladesh so people believe in this newspaper rather than online newspapers.  And The Daily Star can be found in the online version so people are really depending on this.

1.5. Target Markets

In this modern age, a newspaper has become one of the most significant products of a literate person’s lifetime. It is now a must do the task for his/her daily routine life. The requirement of the newspaper promoting arises, because of the speedy modification of the communication method. Also the fulfillment of human demand and supply in order to retain loyal customers and to attract potential customers as much as possible.

A newspaper is very helpful to obtain more and more knowledge that helps in decision-making notably both in a family need also on societal life. In a country like Bangladesh, the first language is Bangla, English is widely utilized among the quality families of this country.

As readers are getting aware of the requirement of English, the potential market for English dailies is rising alarmingly. At present, foreign organizations are building their operational offices in this nation. So, the foreigners operating in these organizations scan English newspapers.

Currently, the biggest circulated English daily newspaper in Bangladesh is “The Daily Star”. The promoting system will facilitate style promoting strategy of the target market of a newspaper. “The Daily Star” authority will improve their promoting strategy and fulfill the requirement of the readers using a strategic technic to attract each potential customers and convert them into loyal customers.

Long-run vision is needed to sustain the forthcoming difficult environment within the international world to capture the newspaper market.

The Daily Star” is mainly focused on Psychographic, Demographic & Behavioral segmentation.

Psychographic:  It is dividing your market based on consumer personality traits, values, attitudes, interests, and lifestyles. The Daily Star focuses mainly on high-end literate consumers who possess strong English communication skills and equipped with a modern lifestyle.

Demographic: The Daily Star mainly focuses on youth and entrepreneurs. They also have a strong consumer base in corporate organizations. Foreign officials heavily rely on The Daily Star to keep aware of circumstances happening in Bangladesh.

Behavioral: Behavioral segmentation is a marketing strategy based on actual consumer buying behavior (User status, Usage rate, Benefits sought). It divides the market into groups of customers according to their knowledge of, attitude towards, use or response to a product. They target corporations and business organizations due to their high usage rate.

Competition could be an unending method. Before the publication of “The Daily Star”, “The Bangladesh Observer” was circulated English daily. However “The Bangladesh Observer” can’t retain the position of the highest circulated English daily. “The Daily Star” authority could use constant promoting intelligence force to stay preferred in English daily in Bangladesh.

Analysis of some Readers psychology:

The amount of readers of English newspapers is increasing day by day. Newspaper readers are the super-targeted customers of the newspaper business in the target market. The best marketing strategy requires careful analysis of the readers. It should be the core heart of the strategy to analyze the customer’s needs and wants.

The full English newspaper browsers in Dhaka town got acknowledged from the Hawkers Union read “The Daily Star”. Consumer buying behavior analysis will play a vital role to establish a market winning strategy. Before developing acceptable selling methods for the newspaper, the management should know the proportion of particular readers yet as prospective readers.

To sustain within the competitive advantage position the management of the newspaper should analysis and develop strategic marketing on the premise of both classes of the readers of the target market.

1.6. Product Offerings

They offer News to their targeted segment through different sections; News, Opinion and Editorial, Star Business, Star Sports, Arts and Entertainment, National and Metropolitan are major of them. Its major supplements include The Star, Forum, Lifestyle, Star Literature, Law & Our Rights, Shout, Star Insight and Science and Life.

1.7. Marketing Problem

This paper identifies the following marketing problems regarding the overall marketing practices of The Daily Star:

1. The management is more focus on the editor part. They have an editor management team and managing editor also responsible for supervising others sectors like as accounts, store, and production and establishment units. Advertisement Manager heads the advertisement section and is responsible for managing advertisements. Though it does not have any separate marketing department. They also don’t have any research division to conduct a survey about its customer satisfaction. From their organ gram, it shows that there is no individual Marketing department although it is a number one English newspaper. (The Daily Star, 2017). Promotional activities are also not so much attractive.
2. The channel of distribution is an urgent segment for a specific item like a daily newspaper. It is discovered that the circulation channel of The Daily Star is long. It happens high cost, which diminishes the effectiveness of its advertising framework. Besides, there is no solid circulation arrange in the rustic zone of Bangladesh, which diminishes the general market scope of its item. Silence to draw in needy individuals who don’t have purchasing power. Buying customer base is a specific area of the society. Lack of fascination among housewives and specialists (Mahbub and Ali, 2004).

3. The cost of The Daily Star is higher regarding the normal family unit consumption of Bangladesh. At the same time, it’s not enjoying the benefit of price leadership. The investigation demonstrates that being the market pioneer; The Daily Star takes after the going rate valuing approach.

4. The study identifies that The Daily Star is sanctioning excessive space for the advertisement in comparison to the total news space. It indicates that its management is highly profit oriented. The higher dependence on advertising encourages corporate journalism, which is controversial of professional journalism based on ethics. As advertisement is high, space for news and different highlights are slowly diminishing. (Mahbub and Ali, 2004).

5. There is a developing pattern of value rivalry in our daily paper industry. It might make a     genuine test for The Daily Star. The future plausibility of rivalry with the electronic media. The possibility of losing the upper hand and position of number one among the English dailies in the nation.

6. In the period where everything runs quick, news needs to do likewise too. Digital daily papers enable the quickest course to the pursuers. The topographical area isn’t an issue here. A man from any topographical area can get news refresh of some other land area inside minutes. The Daily Star becomes one of the most online newspapers among the young generation but it also needs to focus on other consumers as well. There is also have other competitors of electronic media like New Age, Dhaka Tribune, The Independent, The Daily Sun, The News Today, etc. (Webtest.dhaka.net, 2017)’ These online newspapers are becoming popular day by day for that reason The Daily Star has a chance of losing competitive advantage and position of number one among the English dailies in the nation. Most say that print will exist later on. Be that as it may, regardless of whether print The Daily Star can be an essential income stream for daily papers is coming into question (Home.kpmg.com, 2017).

7. Considering the online presence of The Daily Star we can say that they realized its potential at the right time but they are failing to create a strong foothold in the market. They have a brilliant mobile app which is very user-friendly. They are highly active on Facebook but they can’t reach their consumers due to heavy online competitors. Most of the users are not aware of their mobile applications. They also have a YouTube channel. So, they actually did everything to illustrate their online presence but they failed to create an engagement with their valuable readers. One of the core problems behind this is they are not in touch with their readers. They are not also focusing on events that illustrate their online presence and convey a message to mass people about their mobile app and social media presence.

1.Marketing Strategy

1.1. Objectives

1.2. The Big Idea

1.3. Target Markets

1.4. Positioning

1.5. Marketing Mix

1.5.1.Product

1.5.2.Price

1.5.3.Place

1.5.4.Promotion

1.6.  Marketing Research

2.Financials

3. Controls

3.1. Implementation

3.2. Marketing Organization