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Download Digital Marketing Media and more Summaries Journalism in PDF only on Docsity! Business plan for LED Mega Advertising Boards and 10 hoardings _ Anuradhapura MC Business Plan for 10 LED Mega Advertising Boards & 10 Advertizing Hoardings in Anuradhapura MC Submitted to: The Asia Foundation 30/1, Bagatale Road, Colombo 3. Submitted by: Udula Amukotuwa Municipal Financial Specialist, 7B/ 16, Maitpe 3rd lane, Galle December 2017 Business plan for LED Mega Advertising Boards and 10 hoardings _ Anuradhapura MC Advertising is a means of communication with the users of a product or service. Advertisements are messages paid for by those who send them and are intended to inform or influence people who receive them. Advertising in business is a form of marketing communication used to encourage, persuade, or manipulate an audience (viewers, readers or listeners; sometimes a specific group) to take or continue to take some action. Most commonly, the desired result is to drive consumer behavior with respect to a commercial offering, although political and ideological advertising is also common. With the rapid development of with new roads and infrastructure especially under town planning concept, the trend for businesses and communication are much exposed. As the results many business opportunities and services are enhanced. Anuradhapura town is the space wise largest town in Sri Lanka which exposed rapid development of infrastructure as well as in commercial activities. In addition to that the town is much crowded in whole period of the year because of its’ historical value and the Buddhists sacred places. The town is crowded with plenty of crowd both local and foreigners and it leads higher potential in marketing for to make awareness of brands, services, of the manufactures and the service providers. So that many companies use advertizing hoardings and digital advertizing boards to create first impression of their product / service in a short time period. Advertizing hoardings (Billboard advertisements) are designed to catch a person's attention and create a memorable impression very quickly, leaving the reader thinking about the advertisement after they have driven past it. They have to be readable in a very short time because they are usually read while being passed at high speeds. Thus there are usually only a few words, in large print, and a humorous or arresting image in brilliant color. Digital billboards are billboards which are created from computer programs and software. Digital billboards can be designed to display running text, display several different displays from the same company, and even provide several companies a certain time slot during the day. The constantly changing texts ensure maximum impact and wide exposure to target audiences. The Municipal council of Anuradhapura has an idea of paving good platform to the business community to perform well in the region by exposing the better environment to advertise the products and services of business community in the area. So that the MC planned to introduce a series of Advertizing hoardings (10) and LED mega digital screens (4) to advertise the products and services to the public on following objectives: 1. OVERVIEW Business plan for LED Mega Advertising Boards and 10 hoardings _ Anuradhapura MC Advertising on Digital media Digital signage is poised to become a major mass media because of its ability to reach larger audiences for less money. Digital signage also offers the unique ability to see the target audience where they are reached by the medium. Technological advances have also made it possible to control the message on digital signage with much precision, enabling the messages to be relevant to the target audience at any given time and location which in turn, gets more response from the advertising. Digital signage is being successfully employed in supermarkets, restaurants Business plan for LED Mega Advertising Boards and 10 hoardings _ Anuradhapura MC LED Parameters Item Luminous Intensity Viewing Angle Wavelength Test Condition Red LED 800-1200mcd 120°/80° 625+2nm 25°C,20mA Green LED 2000-2200mcd 120°/80° 525+2nm 25°C,15mA Blue LED 400-600mcd 120°/80° 470+2nm 25°C,15mA R:G:B: 3:6:1: Advertising on Mega Hoardings Mega hoardings are varying from the digital boards since it expresses permanent picture or wording with time and not changing. We probably see hundreds of billboard ads every single week, but remember just a handful. With outdoor advertising upping the stakes and becoming increasingly more competitive, plus digital advertising becoming the medium of choice, it’s important to know how to make the advertising count. But, it can still be an incredibly effective branding tool. Generally there are few considerations on these advertizing boards, • Consists with Less word. • Get Noticed, But not be a Huge Distraction • This is Not the Place for Direct Response. • The advertisement should be Smart, But Not Too Clever. • The idea of the advertisement should not be directly expressed but to show it for think about it. . Target Consumer Group Service Area Target consumer group Digital advertizing screens 4 junctions Local and National Companies who seek promotions and Brand awareness Space to promote their Product and services to local and mass Mega advertizing hoardings 10 locations identified by MC Bus Stop Digital backdrop branding space 5 bus stops Competitor Analysis Service Competitor Current Market fraction from competitors Market vacuum to be filled by the project LED Screen near New Bus Stand SLTB 50% 50% Hoarding Sites Advertisement agencies 40% 60% Bus Stop Digital branding space NO competitor nil 100% Business plan for LED Mega Advertising Boards and 10 hoardings _ Anuradhapura MC Clearly the financial goal of the proposed project is to be self-sustaining. This implies an operation that does not draw on the financial resources from Central Government or a sponsoring agency at its’ running cycle. The initial capital investment is estimated to total Rs. 20.7 Mn and additionally assumes the following: ❖ Private Public Partnership with: o Own equity (5.13 Mn) o Businessmen who willing to promote their products on pre paid package . (Rs. 7.6 mn). o A loan from bank . (8.0 Mn) Annual Sales Forecast from 4 digital screens Sections Rate No. Of advertisem ents per day per one screen Monthly income (avg. 28 days) from 1 screen Monthly income (avg. 28 days) from 4 screens Annual income Advertising income - 15 Sec X 20 display times per day 500/= per day 15 210,000/= 840,000/= 10,080,000/= Advertising income - 30 Sec X 20 display times per day 1,000/= per day 10 280,000/= 1,120,000/= 13,440,000/= Advertising income - 45 Sec X 20 display times per day 1,500/= per day 5 210,000/= 840,000/= 10,080,000/= Total income from multi- media screen 700,000/= 2,800,000/= 33,600,000/= ( At the initial stage the total broadcasting time approximately 5 hours per day the it will be dramatically increased) Annual Sales Forecast from 10 mega hoardings Sections Rate No. Of hoardings Annual income Hoarding rent income 200,000/= per year 10 2,000,000/= Annual Sales Forecast from 5 digital backdrops at bus stops Sections Rate No. Of advertisem ents per day per one screen Monthly income (avg. 28 days) from 1 backdrop Monthly income (avg. 28 days) from 5 backdrops Annual income Advertising income - 15 Sec X 20 display times per day 100/= per day 15 42,000/= 210,000/= 2,520,000/= Advertising income - 30 Sec X 20 display times per day 250/= per day 10 70,000/= 350,000/= 4,200,000/= Advertising income - 45 Sec X 20 display times per day 500/= per day 5 70,000/= 350,000/= 4,200,000/= Total income from multi- media screen 182,000/= 810,000/= 10,920,000/= Business plan for LED Mega Advertising Boards and 10 hoardings _ Anuradhapura MC 4.1 Legal Status of the Business Name of the implementing / Managing Organization : Anuradhapura Municipal Council Partners : Private sector/ funding Agent (Bank) Management body : Steering Committee (7 persons) Composition of steering committee : Commissioner of Anuradhapura MC Engineer of Anuradhapura MC Chairman of Trade Association Revenue Officer (LA) 2representatives from business community 4.2 Linear Responsibility chart The Person Number of employees Proposed monthly Salary ( per head) Overall supervision Operations Marketing Administration Finance Existing New Steering committee 7 - - ✓ ✓ ✓ Revenue Officer 1 - - ✓ IT officer for advertising board 2 35,000/= ✓ Computer hardware technician 1 40,000/= Marketing Officer 1 40,000/= ✓ As the above chart shows the overall management of the project is in the hand of the MC whereas the operational decisions will be made by a steering committee which consists of 7 persons. The composition of the 7 persons committee will be from MC as well as from 3 representatives from private sector investors of the market. (Instructions to Steering committee is annexed in annexure 1) 2 persons will be directly recruited to the advertising boards . Preliminary arrangements to be considered by management Body  A separate account to be opened to manage accounts of the project.  Signing Authority for accounts and vouchers to be redefined. It should authorized by the Commissioner of MC.  An agreement should be finalized by the MC to define terms and condition which has be signed between businessmen who willing to advertise their products/ service through this screens/ hoardings/ backdrops. 4. ORGANIZATIONAL & MANAGEMENT PLAN Business plan for LED Mega Advertising Boards and 10 hoardings _ Anuradhapura MC 4.3. Cost of Constructions 4.3.1 Cost of one digital screen Item Cost (Rs.) Imported Cabinet With LED Advertising Board 12’ x 9’ (256 x 192 Pixel Full Color) Rs.2,500,000.00 Six Receiving Card and Sending Card Rs. 150,000 .00 Video Processor (For Live Video) Rs. 250,000 .00 HP Dual Core Branded Desktop with Monitor Rs. 90,000 .00 Transport & Installation Charge Rs. 80,000 .00 Construction cost of Frame structure Rs. 200,000.00 TOTAL FOR ONE DIGITAL SCREEN Rs. 3,270,000.00 Cost of 4 Digital Screens – 13,080,000/= 4.3.2 Construction Cost of Mega Advertizing hoardings Item Cost (Rs.) Iron and Iron works for the frame Rs.300,000.00 Installing cost / concreting Rs. 100,000.00 Lighting arrangement Rs. 100,000.00 TOTAL cost Rs. 500,000.00 Cost for 10 mega hoardings = 5,000,000/= 4.3.3 Construction Cost of Digital Back drops Item Cost (Rs.) LED screen Rs.400,000.00 Processors and hardware items Rs. 80,000.00 Installing cost Rs. 50,000.00 TOTAL cost Rs. 530,000.00 Cost for 5 back drops = 2,650,000/= 4.3.4 Total Project cost – 20,730,000/= Business plan for LED Mega Advertising Boards and 10 hoardings _ Anuradhapura MC 4.4. Pre operating Activities & Expenses Table 2.2 Tasks Time period (Weeks) Date to finish each task Expected cost 1 2 3 4 5 6 7 8 9 10 Preparation of project proposal / BOQs/ validation of the corresponded LA area 2017/2/7 10,000/= Submission of project proposal to donor Agent 2017/2/10 - Obtaining approval from funding agent 2017/2/17 - Marketing/application collection through questionnaire/ Preparing necessary legal and other correspondences to get public ,Private sector Participation. 2017/3/20 20,000/= Construction 2017/03/25 20.730,000/= Business launching 2014/04/01 Pre operating cost 20,760,000/= Business plan for LED Mega Advertising Boards and 10 hoardings _ Anuradhapura MC Annexure 1 Instructions for Steering Committee 1. Selection of investors to be done according to a proper selection criteria on transparent process and it is should be consisted with a tender procedure. 2. Establishment of management body and defining responsibilities of each person is to be clearly identified. 3. The Steering committee should maintain well balanced procedures and ethics with the maximum participation of private sector participation. The involvements of trade union and other trading associations have to be encouraged. In this connection, following steps should be implemented,  Separate Bank account to be maintained in every transaction pertained in the project.  The Management body should be consisted with at least three officials from MC including managerial and subordinate staff categories. Each and every activity to be implemented through these two people and they should report to the steering committee on their activities, progress and accounts.  The management body should maintain a proper book keeping and accounting process to report the financial status to the steering committee.  The management body should have a marketing plan as well as activity monitoring plan at the initiation of project. A simple marketing plan should be focused towards the sustainable process of identifying income generation activities through the income gain from this project.  The monitoring plan (by listing out each activity and tasks involved in this operation and allocating responsibilities and time frame pertained in each activity) should be implemented by the steering committee according to the well set up activity plan, and output monitoring plan. 4. Awareness of rules and regulation set forth with the agreement (annexure 2) is very important and MC should execute an awareness program to the private sector (investors) before signing the agreement. 5. The collection of monthly rentals to be implemented through proper collection process and computerized accounting system. The defaulters should be treated with proper recovery mechanism through penalty system against over dues. 6. Income gaining from this project should be under gone with proper accounting procedure and the facts should be in transparent in order to use of 50% of annual income for expansion of project in second stage as well as to use the balance 50% in other projects that enhance revenue of the MC and providing extended service to the public. 7. MC has to establish mid-term review (6 months) as well as review at the end of 1st year to ensure the impacts and benefits of the project before expanding the second stage. Business plan for LED Mega Advertising Boards and 10 hoardings _ Anuradhapura MC Annexure 2 Advertising LED Screens at Anuradhapura Town We would like to invite you to advertise your product and services on the LED TV wall (9' X 6') which will be planed to install at the Gandhi Square adjoined to Gate of Baticola . Since there are plenty of people gathering and passing this location we believe that you can get good attention for your product and services by advertising through this LED advertizing screen. The screen wall will be operated every day from 5.00 a.m to 9.00 p.m. Do you believe that you will get good popularity for your product and services through this LED TV wall ? Yes No If yes, please fill this questionnaire....... Municipal Council - Anuradhapura 1 Your Business information 1.1 Name of the business 1.2 Business address 1.3 Contact numbers of business Land line: Mobile: 2 Advertising methods which you performs at present 2.1 Methods of advertising TV News papers Leaflets and broachers Banners / cut-outs Posters Other methods (please specify) -------------------------------------------- -------------------------------------------- 2.2 Your current annual expenses for advertising Rs. --------------------------------------------- 2.3 Do you believe that your sales were increased by current advertising effort? Yes No No idea Business plan for LED Mega Advertising Boards and 10 hoardings _ Anuradhapura MC 3 Your choice of advertisement through the LED TV Wall 3.1 Preferred Type of advertisement (please tick your choice) Video clip Still with out animation Still with animation 3.2 Preferred length of advertisement (please tick your choice) 15 Seconds 30 seconds 45 seconds 1 munite 3.3 Number of times displaying per day (please write the number) 3.4 Preferred display time in the day (you can choose more than one option) 5.00 a.m to 8.00 a.m 8.00 a.m to 12.00 noon 12.00 noon to 2..00 p.m 2.00 p.m to 5.00 p.m 5.00 p.m to 9.00 p.m 3.5 How much you hope to spent for this advertising 15 Seconds 30 seconds 45 seconds 1 munite Rs. Rs. Rs. Rs.