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introduction & History

Midas Group was nestled in Lahore 30 years back, by Mr Ghulam Akbar, with innovation to harbour ideas. It is Pakistans biggest in-house Audio-visual/TV productions facility offering comprehensive electronic media solutions and is also Pakistans top-notch agency in advertising, public relations and a/v production. Incorporated in 1981, Midas Pvt Ltd is part of a consortium comprising of Midas Private Limited. Information Services (Pvt) Ltd. Midas Entertainment (Pvt) Ltd. Midas Productions (Pvt) Ltd. Midas Software (Pvt) Ltd. Midas Out of Home (Pvt) Ltd. Since that time the company has grown to lead the market and became Pakistans TopNothch Agency in Advertising, Public relations and A/V production. The company was competent enough to have earned APNS accreditation within a year of inception and won major advertising awards for 22 consecutive years. Now Midas Private has established a nationwide network with offices in Peshawar, Karachi and Islamabad, Lahore and Quetta.

name
Midas is an appropriate name which means Golden which collaborates with the companys long term vision of providing the golden touch to its clients products or corporations and is also short and easily memorable.

Logo

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Hierarchy vision
Give us a product and we shall give you the Golden Touch

Mission statement
To facilitate our clients by making people aware of their presence and to discover new ways to deliver value for each penny that they spend

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swot analysis
SWOT analysis an important phase of the planning process and helps marketers to focus on key issues. Strengths and weaknesses are internal factors while Opportunities and threats are external factors. The SWOT of Midas Pvt is as follows

trengths

eaknesses

Companys Goodwill & 3 Decades of Experience in advertising. Pioneer in Socio-Political Marketing. Pakistans biggest in-house Audio-Video production facility with more than 300 Employees and Specialist planners. Assets worth 1200 million Rupees & Accreditations with many research agencies.

Slackly and Lazy staff. HR officials themselves dont follow the policies of the company thus creating a negative impact on the rest of the staff.

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pportunitites

hreats

Midas is trying to enter new target markets by affiliating with Dentsu Incorporation, which is one of the biggest advertising agencies in the world with more than 100 offices round the globe.

Orient Advertising Pakistan Interflow Communications Evernew Group Time and Space Media

strengths
Midas Private Limited has the Following Strengths that support the company internally and help in opting to various opportunities in the market. Companys goodwill in Punjab with awards in major creative and business awards for 22 consecutive years. 3 Decades of Experience in the field of Advertising. Pioneered in the Socio-Political Advertising in Pakistan. Pakistans biggest in-house Audio-Video production facility. Exclusive Media Cell for timely response, management, monitoring and advertorials. Specialist Planners for best time slots and space at most competitive rates. More than 300 Employees contribute to the overall workforce, nationwide.

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Total Assets of worth more than 1200 million & capital worth 30 million Rupees. Accreditation with APNS, PAA, PID, PTC and PBC, and with NNI & other news agencies provide cutting edge in Research. Research partners like AFTAB ASSOCIATES, PU, and BNU for all qualitative and quantitative research and pre and post testing.

weaknesses
Midas Private Limited is a great player of the market and has many Strengths along with some weaknesses such as, Slackly and Lazy employees that often cause problem for the organization in performing its daily operations. We encountered some serious issues of smoking in the organization that tells us about the relaxed policies and unethical behaviour of the representatives of the organization that tends to affect the overall reputation of the company.

opportunities
Recently Midas Pvt Company adopted to go global by tapping the market of U.A.E and now Midas Corporation has another opportunity to further enhance its business parameters, and to expand its operations in other regions by utilizing its strong financial abilities and experience. Midas Pvt is trying to enhance its business by affiliating with Dentsu Inc. which is the worlds largest advertising agency brand with global billings of over US $15 billion. A major player and power house of the industry with over 100 offices worldwide.

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threats
The only threat that Midas faces is the presence of other emerging advertising companies in the market to gain more and more market share and steal more and more clients. Midas corporation faces a lot of competition from many big and small companies throughout Pakistan yet the major competitors are as follows, Orient Advertising Company, a major player in the market of Advertising since 1953 much older than Midas and has established a lot of Goodwill and reputation in the market. Evernew Group is also a major player in the market, established in 1937 the company been going strong ever since then. Interflow Communications, established in 1983, has also been one of the pioneers of marketing communication services in Pakistan and a serious competitor of Midas Group. Time and Space Media, is another major competitor in the market of Pakistan, established in 2000 the firm is also a major threat to the company.

Market plan
The market plan of a company comprises of the following which has been discussed below, Competitor Analysis Supply Chain Market Segmentation Target Marketing

Competitor analysis

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The first step is that we must identify and analyse our most strong competitors to come up with strategies to compete with them and get a hold of the market and increase our market share and to understand where our company stands. In the advertising industry of Pakistan there are many companies that act as the perfect substitutes of the company in which Orient Advertising is the major player in the market which are threatening us in the following ways: Orient Advertising is one of the eldest agencies in the field of advertising with more than 5 decades of field experience. Orient Advertising is a well-established company which enjoys the advantage of good client perception due to association with some dominant corporations throughout Pakistan such as, Pakistan State Oil, Volta Battery, Jazz, Shan Foods, PIA, and Karachi Stock Exchange; therefore it is the strength of the company. A human resource of about 400 Employees, who are well experienced and specialized in their tasks, contribute to the overall workforce of Orient Advertising.

Supply Chain
Midas Corporation deals in creating ads both for Newspapers and Audio-Visual Ads for displaying on the Televisions and Radio. So Midas does not need any physical distribution of its products yet it has to maintain a connection with representatives of various Newspaper publishing agencies such as Jang and Dawn newspaper and representatives of various TV Channels such as Geo T.V and Express, and at the same time it also needs to remain in touch with some Outdoor marketing agencies for the creation of banners and billboards etc.

market segmentation

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Marketers divide large heterogeneous markets into smaller segments which could be done on the basis of different segmentation variables of demographic, psychographic, geographic and behavioural segmentation so that they can efficiently communicate with the consumers.

DEMOGRAPHIC SEGMENTATION
As Midas, is an advertising agency so they have to make different ads for different segments on the basis of occupation/field of the client and income/budget which shows that they are doing segmentation on the basis of demographic variables They are doing segmentation on the basis of occupation because it is targeting the three sectors which are corporate, agriculture and real estate sectors. They have also set some standards or budget limit for organizational advertising budget. It only entertains and makes ads for the clients who can meet up to these standards which show that their segmentation is done on the basis of income levels.

target market
Buyers have unique needs and characteristics so a company has to select a target market, which is a set of buyers sharing common needs or characteristics that a company decides to serve. After identifying different segments, marketers have to decide that they should target which segment. Target market is the set of buyers which who shares common needs which a company decides to serve. Midas is targeting the three sectors which are the

CORPORATE SECTOR
In this sector Midas has worked with the following companies, Pakistan Post Office, Customs House, Ministry of Health, Ministry of Foreign Affairs, Ministry of Information & Media Development, Hyundai and Pakistan Railways etc.

REAL ESTATE SECTOR

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In this sector Midas has worked with some prominent areas such as Bahria Town, China Town, Divine Gardens, DHA Lahore/Islamabad, Park View Society, Gulberg Arcade, Pearl Continental etc.

AGRICULTURAL SECTOR
In this sector Midas has worked with the following, Ministry of Food & Agriculture, Department of Forestry Department of Agriculture etc.

UNDIFFERENTIATED TARGET MARKET

It is using undifferentiated marketing strategy in which a firm decides to ignore all market segment differences and go after the market with one offer. They are offering a same budget limit for all the three sectors instead of the different budget limit. The quality of ads depends upon the level of price paid by the clients to the company for making an advertisement within the budget limit. If more quality ad is required by the client of any sector, than he has to pay more price for that. There are four possible ways to target markets based on the nature of product and consumers response but our company offers the same services for all the Targeted Segments and use undifferentiated target marketing as they are targeting all the Corporate Sector, Real Estate sector and Agricultural Sector.

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Product plan
The tools used for setting up a product plan are Product, Price, Placement and Promotion collectively known as the marketing mix strategy.

Product
Midas Pvt. Ltd. Basically offers the following two types of services: Artistic Designs for print media, including newspaper ads. Audio and Visual advertisements, including television as well as radio ads.

STEPS INCLUDED IN PRODUCING THE ADVERTISMENTS

First of all research is conducted on the product of the client by the Client Service Department. This provides with the basic knowledge of what the product is, their distinctive characteristic, how it may fulfil consumer needs. All this information is necessary for the company in order to create an ad that will induce people to purchase the product. To help Midas create such effective ads, Aftab Associates and NNI News help conduct all the researches. After receiving briefing from the client and doing some research about the product, internal briefing is given to the Creative Department. This department then creates alternatives and selects amongst them the suitable brand name for the product and an appropriate logo designed along with an appealing tagline, URLs etc. A popular

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brand ambassador is also selected in order to attract more customers. Later a media strategy is also selected for the promotion the product which could be the in the form of a newspaper product or a television commercial etc. After selecting amongst the several alternatives, a suitable proposal is made for the client to show him the plan regarding the advertisement of their product and do the necessary alterations, if any, suggested by the client. Pre-campaign testing is done; majorly in Punjab university and Beacon national university to check the acceptability of the ad by the costumers all of their prepared ad is presented in front of the students then a post campaign testing is followed by it and if the ad is not liked by the students of these universities this completely shows that the rest of the costumers will also not like it and they have to completely revise their plan and media strategies.

PRicing
Pricing is a major factor that greatly influences and determines the success and failure of a product. Midas follows the prices assigned by the All Pakistan Newspaper Society (APNS) and Pakistan Broadcasters Association (PBA). APNS sets the prices for the ads which are published in the new papers according to the size of the Ad. PBA sets the prices for the audio and visual ads according to the time slots specified by the client e.g., high price is charged for showing the commercial between 5 pm to 7 pm and 9 pm to 11 pm from which 15% of the share in profit is kept by Midas and rest is of the 85% is given to PBA.

Placement
Midas Corporation Established a nation-wide network in the federal as well as four provincial capitals of Pakistan. Where the offices of the company reside in Islamabad Lahore Karachi Peshawar

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Quetta Faisalabad Muzaffarabad Gilgit UAE

PRomotion
Midas, being an ad agency itself, realizes the importance of promoting itself to attract more and more clients. As quoted by the Senior Executive Director, Out of Sight, Out of mind So it always strives to remain in the touch with its clients and tries to maintain healthy relations with them by providing them quality services. Midas Corporation promotes itself by using various communication platforms.

ADVERTISING
Midas makes use of the traditional signature advertising on the artwork space in a print advertisements in newspapers by writing the name of the company at the bottom of the AD placed in the newspaper, mostly when the advertisement is of a dominant company about which most of the people are aware off.

EVENTS & EXPERIENCES

It increasingly undertakes organizing and sponsorship of concerts and other events as its promotional activity. Apart from all these methods, it sometimes gives away certain items containing companys contact information and logo as gifts or souvenirs in order to increase awareness of its products/services among people. Some events that have been recently sponsored by the company are as follows, Debate in Beaconhouse Islamabad Raqbi match at Lahore Race Course Cross country Care race at Lahore

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DIRECT & INTERACTIVE MARKETING

Midas also has its websites for potential clients to easily and conveniently gain access to any information they require about the company.

sALES
The company sells there services by giving different advertisements in the newspapers or Audio-Visual media, that also show what services do they avail and how can you contact the company for further information. A person can either come in contact with the company by email, telephone or even an address is given where they will be given proper and complete details of what can be done for their specific job whether they want to make advertisement or ads in newspaper they can discuss it thoroughly. The company makes three different advertisement every time for each individuals job , than the person to whom the company makes the advertisement is called and all of the advertisements are shown to whom , of course those three are selected from a lot of different approaches that different workers have used , than in those three one is selected by the person who wanted it in the first place and then the process goes accordingly, if the person doesnt likes even one in those 3 than the company gives the owner further time and tries to come up with something according to the need of the person where they try their very best so that they arent denied for the second time , but most of the jobs are completed in the first time because of the trained professionals that work on them and because the 3 best are shown to the person , and then rest Is up to persons perceptions and psyche.

reasons of success
The major reason for the success of the company is that the company has a variety of skilled experts working as its employee along with the companies 30 year experience in the field of Advertising. Another major reason for the success of the company is that the officials of Midas are associated with many research partners such as Aftab Associates and its unique

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association with many online and NNI news agencies sue to which the company always remains aware of the market trends and plan accordingly. Also Midas was the first to establish Pakistans biggest in-house audio-visual production facility offering comprehensive electronic media solutions and the company has state of the art computer hardware and software and the most important ability of the company is to deliver commercials, documentaries and jingles at short notice and live coverage from anywhere in Pakistan.

lesson learned
From preparing this project we have learnt many things and have gained practical knowledge of how corporations act and survive in the competitive world. We have learnt the significance of the Advertising in businesses. As Mr. Abdul Qayyum Hijazi quoted that A person who stops Advertising just for the sake of saving some money is like the person who stops the clock just to save time We have learnt how corporations set up a market plan before producing a product. Also we have come to know the importance of Product plan as they determine the success and failure of a product.