Marketing and Financial of the Star Publication Malaysia Berhad Flashcard
The Star’s main objective is to being the best newspaper in providing the latest and accurate news around the world with reliable and vital information service with the intention of educating and entertaining the Malaysian society.
The mission is that The Star remained as the No. 1 leading English newspaper in the country. The mission statement was designed based on The Star’s core business focus and as The Starll as the possible business ventures in future, taken into consideration the major role of the newspaper such as providing information, entertaining the society and lastly, educating the readers.”The Star Publication (M) Bhd never had a formally written mission statement.
The firm had adapted to the typical Chinese way of doing business and had remained as such till the early 1990’s but the business orientation had changed to meet the evolving business trend”, said Mr. S.M. Rajah, the Senior Human Resources Manager who had been in the firm since 1971.The Star takes its marketing responsibilities very seriously. For The Star, corporate responsibility in the marketplace translates to how the organisation develops, sells and delivers its products to readers and stakeholders.
Through guidelines set forth by the company’s corporate governance statement, The Star practices self-regulatory measures in ensuring that day-to-day decisions are made with the aim of preserving the company’s reputation as The Starll as keeping the promise to stakeholders that The Star will always be a responsible corporate citizen.It has often been said that Corporate Responsibility is not just about how The Star use the money that The Star make but how The Star made the money. As a publisher The Star are ever mindful that their content should more than meet the stakeholders’ standard for objectivity, fairness and truthfulness. The Star endeavour to filter out such material that may corrupt the minds of tehir readers and sow seeds of discord. Sleaze sells but in their marketplace The Star are mindful of such content.
Constructive engagement, not harping on the negative, is the order of the day. This is embodied in our content development and management values. The Star have also conscientiously blocked out offensive stories and advertisements although it is sometimes a tough choice to make betThe Staren monetary gain versus values.The Star have also endeavoured to keep the retail price of our publications low especially their magazine for school children, Kuntum, so as to make it affordable to this group. The Star believe that by and large, Malaysian readers are a good judge of what The Star hold theirselves to be in the marketplace and The Star continue to stay as the dominant number one in readership and circulation among English dailies.ProductThe Star (daily) and Sunday Star, Malaysia’s most widely-read English-language daily and Sunday newspapers, are published in four editions – two editions which cover the northern peninsular states of Penang, Kedah, Perlis and northern Perak while the other two editions cover the rest of the country.
The Star is packaged as a 3-in-1 paper, comprising the Main Paper, StarBiz and StarTwo. It recently underwent a revamp at the beginning of 2007, whereby snazzier, sharper elements were incorporated into its various sections, making for a new, fresh and contemporary look for the new millennium.The Main Paper covers the latest in both local and international news while StarBiz offers a comprehensive coverage of business developments, market trends, financial reports and updates in the stock market. StarTwo features articles on lifestyle, entertainment, health, parenting, social etiquette, science, environment, fashion, food and many more.Weekly sections include Star Maritime (every Monday) which covers the shipping and sea-trade industry, Star-In.Tech (every Tuesday and Thursday) which focus on computers and information technology, Youth 2 (every Thursday) which features lifestyle and trends for the young, and StarWeekend, which replaces StarTwo on Saturdays, offering articles on hobbies, holidays, leisure and weekend getaways.
The Star BizWeek is a weekly financial magazine published every Saturday that highlights issues, companies, personalities, developments, and stocks that are likely to make news in the week ahead.Regional sections include StarMetro (Monday to Saturday) which focuses on happenings and entertainment in the Klang Valley, and North (Wednesday and Friday) which features the goings-on in the northern region, namely Penang, Perlis, Kedah and northern Perak.Special topic-based sections by The Star are Clove (every second Thursday of the month) which offers articles on family, fashion, beauty and relationships, and The Star NIE (Newspaper-in-Education), which offers a fresh, new approach to the teaching and learning of English in secondary schools.Sunday Star offers current worldwide news and special reviews. It contains an Education section that features careers, exam tips, advice on higher studies, comments by well-known educationists and NIE highlights. StarMag is a lifestyle magazine with the tagline “Your Lifestyle Companion”, covering travel, food, the arts, life, fashion, trends, books, motoring and living spaces – all the elements that promise a great weekend read.
There are two pullouts within StarMag. Fit For Life focuses on the various aspects of well-being, and offers up-to-date articles on medical research and treatments, track fitness trends, diet and nutrition, mental and emotional health issues, matters related to ageing and public health, complimentary therapy and vibrational healing methods. Variety puts together TV and radio entertainment stories and useful highlights, comics, interactive items like puzzles and other staples like the horoscope, children’s pages and TV guide.Place The Star – the people’s paper was committed to being the best newspaper in providing the latest and accurate news around the world with reliable and vital information service with the intention of educating and entertaining the Malaysian society. Star Publication Malaysia Brerhad was interested to develop scenario planning that will be focused on the media industry as a whole.
The scenario planning was intended to bring the lime light of the Malaysian society in the year 2009. PriceThe Star and NST were priced at RM 1.00 per copy i n Peninsula Malaysia, while The Sun was priced at 80 cents per copy but, The Edge was sold at a premium price of RM3.20 per copy. Although, a lower price strategy was vulnerable to capture a bigger market share, especially from the lower i ncome group, many publishers felt that the production costs should determine the cover price of the newspaper.
However, the nature of the product forbade the increase of the cover price. The Production Manager of The Star Publications once quoted that the cost of goods to produce 180 pages of a product comes up easily to RM2.00. He also added “We obtain 80 cents per copy from the vendors. If we don’t make up the deficit in advertising revenue, then we are looking at net loss.
Oddly, enough, print is not a business where economics of scale operates. Newsprint costs do not lessen as we use more.” he observed. PromotionOur external communications, from releases to the Stock Exchange, to trade releases and other forms of communication are fact-based and do not mislead in anyway. This includes trade representations such as those we make in the process of selling advertisement space in our publications, print and online. Industry TrendsThe Malaysian advertising market recorded a total ratecard spending of RM6.
6 billion in 2009 indicating a growth of 7% compared to 2008 (Source: Nielsen Media Research). Newspapers and terrestrial television continue to command the bulk of the total adspend at 52% and 37% respectively. English newspaper circulation recorded a decline as a whole and the The Star and Sunday Star both experienced marginally lower sales. Decrease in advertising expenditure from recruitment and sectors which are more printcentric partly explains the lower market share in newspaper segment. The Board has taken measures to manage this and among the steps is the launch of Star Sarawak edition and Mingguan mStar.
Strategy & planningOver the years, The Star has grown and evolved into a multimedia organization that provides content via print, the Internet, radio and mobile phone. For 2010, we intend to venture into the fields of application development for mobile devices, and creative multimedia as well.The Star Media Group has shown its commitment to innovation in the media industry by obtaining MSC Status for three of its subsidiaries in 2009. These companies will blaze new trails for the Group in the fields of online property advertising, recruitment and content delivery.The Star decided to publish a Bahasa Malaysia weekly to cater for a rapidly growing demand for Bahasa Malaysia publications. The Star feels that the time is right to give our readers another option in Bahasa Malaysia to choose from.
The launch of Mingguan mStar marks another important stage in the growth of the Group as it not only means that Malaysia’s No.1 English daily is growing, but it is also celebrating the spirit of 1Malaysia, bringing Malaysians closer together through the national language.The Star, Sarawak edition, rolled out on 7 March 2010 – offering Sarawakians more to read at a lower cover price. The daily has finally hit the streets following the signing of a printing agreement between Star Publications (M) Berhad and UBP Printing Sdn Bhd last November that will ensure that the paper is available to readers by 6 in the morning every day.