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This project covers the Segmentation, Targeting and positioning criteria of Businesss standard newspaper

This project covers the Segmentation, Targeting and positioning criteria of Businesss standard newspaper

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  • 1. A Project Report On “To study the segmentation, targeting and analyze the positioning of Business Standard newspaper in comparison to other financial newspapers” carried out at Business Standard Ltd. Submitted By Akshay Sonone Roll no. 11346 MBA++ (Marketing) Under the Guidance ofDr. Surbhi Jain Mr.Swapnil ChavareAssociate Professor Market Development OfficerPUMBA Business Standard Ltd. In Partial fulfillment of the requirement for the award of the degree of Master of Business Administration (MBA++) Department of Management Sciences University of Pune (PUMBA) 2011-2012 1
  • 2. Department of Management Sciences University of Pune (PUMBA) CERTIFICATEThis is to certify that the Summer Project report titled “TO STUDYSEGMENTATION, TARGETING AND ANALYZE THEPOSITIONING OF BUSINESS STANDARD IN COMPARISON TOOTHER FINANCIAL DAILIES” carried out at BUSINESSSTANDARD LIMITED, PUNE has been submitted by Mr.AkshaySunil Sonone, 2nd year MBA Marketing student of The Departmentof Management Sciences (PUMBA), University of Pune, towards thepartial fulfillment of the requirement for the award of the Masters inBusiness Administration (MBA++) and the same has beensatisfactorily carried out under the guidance of Dr. Surbhi Jainduring the academic year 2011 - 2013.Dr. Surbhi Jain External Dr. C.M. ChitaleAssociate Professor Examiner Head of DepartmentPUMBA PUMBA 2
  • 3. PrefaceIt is said that practice makes a man perfect. So professional study is incomplete without itspractical knowledge. In the field of business, theory provides the fundamental stone for theguidance of practice but practice examines the element of truth lying in the theory thereforestand coordination between theories and practice is very essential to make MBA perfect.Each & every activity is started for the accomplishment of goals & for this purposemanagement is required. As being student of MBA, a management stream, we have to go indifferent industrial units for practical knowledge & practical training.A project is a systematic and scientific study of market problem with application ofmanagement skill and concepts. The present era is an era “brand marketing”. The business ofbrand marketing may be compare to the game of chess it is too hard to service in the marketbecause market is full of competition of on it environment both internal and external .Everycompany has to recognize its strength and weakness, opportunities and threat.I was assigned a study of the application of “To study segmentation,targeting and analyse thepositioning of Business Standard newspaper in comparison with other financial newspaper”at BUSINESS STANDARD LIMITED, PUNE .This report has been complied primary fulfillment of the requirement for MBA course.Secondary is to share the practical knowledge and real experience in the industry .The detailsmention in this report is based on real situation and research.I hope the report will be special interest to the marketing students who are on look for suchreal life situation beyond their class room study. 3
  • 4. AcknowledgementIt is matter of great privilege for me to be attached with “BUSINESS STANDARDLIMITED” and do project which enhanced my practical knowledge .I do acknowledge thatthis project report is outcome of constructive support and corporation of many individual.First of all I would like to express my deep scene of gratitude to Mr. SWAPNIL CHAVARE,Market Development Officer, BUSINESS STANDARD LIMITED due to his guidance I wasable to do my project work in this organization.Secondly, I am thankful to my internal guide Dr. SURBHI JAIN, Associate Professor,PUMBA for her generous cooperation & guidance, which have made it possible to completemy work.Thirdly, I thank Honorable Dr. (Capt.) C.M.CHITALE (Head of Department) for playing theideal mentor and being a constant source of inspiration throughout at PUMBA.At last but not the least I would like to express my gratitude to Mr. SUMEDH GUPTE(Business Head) BUSINESS STANDARD LTD. For taking me his guidance and helping meduring entire project work despite of his schedule in the company.And warm thanks to our parents, close friends and respondents for their humble co-operationduring project completion. Akshay Sonone PUMBA 4
  • 5. Table of ContentsSr. No. CONTENT PAGE NO. 1. EXECUTIVE SUMMARY 6-7 2. INTRODUCTION OF THE PROJECT 8-12 3. INDUSTRY PROFILE 13-23 4. COMPANY PROFILE 25-30 5. PRODUCT PROFILE 31-37 6. RESEARCH METHODOLOGY 38-42 7.. SURVEY AND DATA INTERPRETATION 43-58 8.. FINDINGS 59-60 9. LIMITATIONS 60 10. RECOMMENDATIONS 61 11. REFERENCES 61 12. ANNEXURE 63-64 5
  • 6. CHAPTER 11.0 Executive SummaryThe project deals with analyzing the STP strategies of Business Standard .The survey wasconducted through structured question-naire among the customers of Business Standard inPune to study their reading habits, preference among the financial newspaper , factorsinfluencing buying newspaper, section read the most, customer satisfaction and to find theprofile of the Business standard newspaper customers.After analyzing the data conclusions were drawn related to various facets of PositioningStrategy and hope that it will be helpful to Business Standard for further improving itsPositioning and customer services. In this project I have tried my best to apply the theoreticalknowledge to the practical world so that we can understand the market in most effective way.The details regarding the finding, recommendations ,limitations can be found in firthersections of the report.1.1OBJECTIVES:The objective of the project undertaken was to “Study segmentation, targeting and analyzepositioning of Business Standard in comparison to other financial newspapers”1.1.1Primary objectives: 1) To analyze the segmentation, targeting and positioning of Business Standard 2) A study of the factors affecting the purchasing decision of readers in buying a business daily. 3) To do the comparative analysis of various financial newspapers. 4) To study the Brand preference among Financial newspaper1.1.2Secondary objective: 1) To form a brand equity of business standard in the market 2) To study company profile of Business Standard. 3) To study the customer satisfaction for business standard 4) To create awareness among corporate world for the financial newspaper. 5) To develop the market of Business Standard in PUNE region 6
  • 7. 1.1.3 TASK ASSIGNED:The Summer Internship project commenced on 1st June 2012 and concluded on 31st July2012. During the project a research was conducted to study the STP strategy of BusinessStandard. Additional task of developing the market of Business Standard in Pune region wasallotted.The targets that I had been assigned by the company were: 1.To study STP strategy of Business Standard in comparison to other financial newspapers 2. As a promoter to create awareness of Business Standard. 3.To search, plan and make sales call to prospect. 4.To convert at least 20 prospects into clients in a month for business standard news paper i.e., a total of 40 subscribers during my project work. 5.Distribution of free samples as part of brand promotion of Business Standard 7
  • 8. CHAPTER 22.0 Introduction to the project A marketer can rarely satisfy everyone in the market .Therefore, marketers start bydividing the market into segments .They identify and profile a distinct group of buyers whomight require or prefer varying product and service mixes by examining demographic,psychographic and behavioral difference among buyers. After identifying market segments the marketer then decides which present the greatestopportunity- which are its target markets .For each a firm develops a marketing offering thatit positions in the mind of the target buyers as delivering some central benefits. Companiesperform best when they choose their target market carefully and prepare tailor marketingprograms.2.1 Segmentation:Market segmentation is a marketing strategy that involves dividing a broad target market intosubsets of consumers who have common needs and applications for the relevant goods andservices. Depending on the specific characteristics of the product, these subsets may bedivided by criteria such as age and gender, or other distinctions, like location or income.Marketing campaigns can then be designed and implemented to target these specific customersegments.2.1.1 Criteria for SegmentingAn ideal market segment meets all of the following criteria:  It is possible to measure.  It has to be large enough to earn profit.  It has to be stable enough that it does not vanish after some time.  It is possible to reach potential customer via organizations promotion and distribution channel.  It is internally homogeneous (potential customers in the same segment prefer the same product qualities). 8
  • 9.  It is externally heterogeneous, that is, potential customers from different segments have different quality preferences. It responds similarly to a market stimulus. It can be reached by market intervention in a cost-effective manner. useful in deciding on marketing mix2.1.2 Basis for segmenting consumer markets Geographic segmentationThe market is segmented according to geographic criteria—nations, states, regions,countries, cities, neighborhoods, or zip codes. Geo-cluster approach combinesdemographic data with geographic data to create a more accurate profile of specific. Withrespect to region, in rainy regions you can sell things like raincoats, umbrellas andgumboots. In hot regions you can sell summer wear. In cold regions you can sell warmclothes. Demographic SegmentationDemographic segmentation consists of dividing the market into groups based on variablessuch as age, gender, family size, income, occupation, education, religion, race andnationality. As one might expect, demographic segmentation variables are amongst themost popular bases for segmenting customer groups. This is partly because customerwants are closely linked to variables such as income and age. Also, for practical reasons,there is often much more data available to help with the demographic segmentationprocess. Psychographic SegmentationPsychographics is the science of using psychology and demographics to better understandconsumers. Psychographic segmentation: consumer are divided according to theirlifestyle, personality, values. Aliens within the same demographic group can exhibit verydifferent psychographic profiles 9
  • 10.  Behavioral SegmentationIn behavioral segmentation, consumers are divided into groups according to their knowledgeof, attitude towards, use of or response to a product. It is actually based on the behavior of theconsumer.2.2 Targeting:2.2.1Market Targeting StrategiesOnce the firm has identified its market-segment opportunities, it is ready to initiatemarket targeting. Here, marketers evaluate each segment to determine how many andwhich ones to target and enter.2.2.2 Evaluating Market SegmentsIn evaluating different market segments, the firm must look at two factors: (1) the segment’soverall attractiveness, and (2) the company’s objectives and resources. First, thefirm must ask whether a potential segment has the characteristics that make it generallyattractive, such as size, growth, profitability, scale economies, and low risk.Second, the firm must consider whether investing in the segment makes sensegiven the firm’s objectives and resources. Some attractive segments could be dismissedbecause they do not mesh with the company’s long-run objectives; some should be dismissedif the company lacks one or more of the competences needed to offer superiorvalue.2.2.3 Selecting and Entering Market SegmentsHaving evaluated different segments, the company can consider five patterns of targetmarket selection.2.2.3.1Single-Segment ConcentrationMany companies concentrate on a single segment: Volkswagen, for example, concentrateson the small-car market, while Porsche concentrates on the sports car market. 10
  • 11. Through concentrated marketing, the firm gains a thorough understanding of thesegment’s needs and achieves a strong market presence.2.2.3.2Selective SpecializationHere the firm selects a number of segments, each objectively attractive and appropriate.There may be little or no synergy among the segments, but each segment promises to be amoneymaker. This multisegment coverage strategy has the advantageof diversifying the firm’s risk.TABLE NO 1 Five Patterns of Target Market Selection Identifying market segment and selecting target markets2.2.3.3 Product SpecializationAnother approach is to specialize in making a certain product for several segments.An example would be a microscope manufacturer that sells microscopes to universitylaboratories, government laboratories, and commercial laboratories.2.2.3.4 Market SpecializationWith market specialization, the firm concentrates on serving many needs of a particularcustomer group. An example would be a firm that sells an assortment of productsonly to university laboratories, including microscopes, oscilloscopes, and chemicalflasks..2.2.3.5 Full Market CoverageHere a firm attempts to serve all customer groups with all of the products they mightneed. Only very large firms can undertake a full market coverage strategy. Examples 11
  • 12. include IBM (computer market), General Motors (vehicle market), and Coca-Cola(drink market). Large firms can cover a whole market in two broad ways: throughundifferentiated marketing or differentiated marketing.In undifferentiated marketing, the firm ignores market-segment differences andgoes after the whole market with one market offer..In differentiated marketing, the firm operates in several market segments anddesigns different programs for each segment. General Motors does this with its variousvehicle brands and models; Intel does this with chips and programs for consumer,business, small business, networking, digital imaging, and video markets.Business Standard uses the Product Specialization strategy i.e. it offers the single product todifferent market segment.BSL sells the same newspaper to Metro, Tier-1, Tier-2, Tier-3 citiesacross India.2.3 Positioning:Positioning is the act of designing the company’s offering and image to occupy a distinctplace in the minds of the target market. The goal is to locate the brand in the minds of theconsumers to mazimize the potential benefit of the firm.The result of positioning is the successful creation customer focussed value proposition , acogent reason why customer should buy the product . 12
  • 13. CHAPTER 3 Industry Profile3.1 An overview of Indian Media & Entertainment Industry:The Indian media and entertainment (M&E) industry recorded revenues of $16.3 billion (Rs81,500 crore) in 2010, and is expected to be in excess of $25 billion (Rs 1,25,000 crore ) inthe next four years, states the latest report from Ernst & Young (E&Y).TABLE NO.2 Growth: Literacy and Media ConsumptionCategory 2011 Q3 2011 Q4 2012 Q1 % CAGR (2011 Q3-2012 Q1Literacy 634883 639705 643321 2.7Any Media 630514 636307 640396 3.2Press 349889 350347 352115 1.3TV 539868 549864 554651 5.6C&S 448243 462343 475176 12.4Radio 158284 156692 154941 -4.2Cinema 76832 75768 75195 -4.2Internet 30888 34409 37483 47.3 Source: Hansa Research, IRS 2012 Q13.1.1Broadcasting and cable televisionThe broadcasting and cable TV industry revenue for 2010 was estimated at $7.2 billion (Rs36,000 crore), up 13.3 per cent from the previous year, mainly driven by a 19 per cent growthin advertising revenue. The industry is projected to grow at a CAGR of 12 per cent to reach$11.4 billion (Rs 57,000 crore) by 2014. The continued digitisation of distributioninfrastructure, the demand for regional and niche content, and the possibility of growth in TVpenetration will drive growth in this segment. 13
  • 14. 3.1.2 Television distributionIndia is the second-largest pay-TV market in the world, with 108 million subscribers and 48per cent reach to Indian households. The TV distribution industry is dominated by analogcable, which is highly fragmented and includes about 60,000 LCOs, and 1,000 multi-systemoperators (MSOs). However, fierce competition among DTH operators, as well as a recentgovernment policy mandating digitisation of cable TV, has driven the growth of digital TV.3.1.3 PublishingThe Indian publishing industry revenue for 2010 was estimated at $4.7 billion (Rs 23,500crore), and is projected to grow at a CAGR of 11 per cent to reach $7.1 billion (Rs 35,500crore) by 2014. A low-readership penetration of 30 per cent compared with a literacy rate of74 per cent underscores the potential for further growth for publishing in India.3.1.4 NewspapersWhile in a number of international markets, the newspaper industry is faced with a decliningreadership because of digital media, the print industry in India continues to grow, driven byan increase in advertising spends, a rise in literacy rates, and the growth of regional-languageand specialty newspapers. The Indian newspaper industry is one of the largest in the world,with more than 74,000 newspapers in 22 languages, and a readership of 325 million. Fiftyfour newspapers are very popular with advertisers in India, accounting for 42 per cent of alladvertising spends, the most for any medium.3.1.5MagazinesMagazines comprise around 19 per cent of the total publishing industry in India. They areviewed as a luxury product, and rely heavily on newsstand sales rather than subscriptionsales.3.1.6 FilmsThe Indian film industry is the largest in the world, with more than 1,000 films producedevery year, in more than 20 languages. With 3.3 billion tickets sold annually, India also hasthe highest number of theatre admissions. The Indian film market derives almost 90 per centof its revenue from non-English language movies, largely dominated by Hindi films,followed by South Indian films and other regional films. The Indian film industry is projected 14
  • 15. to grow from $3.2 billion (Rs 16,000 crore) in 2010 to $5 billion (Rs 25,000 crore) by 2014 ata CAGR of 14.1 per cent.Growth is expected from the expansion of multiplexes in smaller cities, investments byforeign studios in domestic and regional productions, the growing popularity of niche movies,and the emergence of digital and ancillary revenue streams.3.1.7 Radio and musicThe radio and music industries contribute just 2.4 per cent of the total Indian M&E industryrevenues. Both segments, however, provide highly popular forms of entertainment; FM radioreaches out to 30 per cent Indians, while the Indian youth are the second largest audience forpaid digital music globally. The radio and music industries together generate around $445million in 2010, and are projected to grow at a CAGR of 17.3 per cent to reach $844 million(Rs 4220 crore) by 2014.The third phase of radio license auctions, which is expected soon,will see radio networks expanding their reach to add around 700 radio stations across thecountry.3.1.8 SportsCricket is the most popular spectator sport in India, and follows movies as the second-biggestform of entertainment. The Indian Premier League (IPL) is already one of the most valuablesporting brands in the world, currently valued at $3.7 billion(Rs 18,500 crore).TABLE NO 3 15
  • 16. TABLE NO 4 Numbers of Newspaper registered in India is given in the tablebelow TABLE NO5 Breakup of Total newspaper in India in different segments/categories Break up of Total Newspaper in India 7% 25% 25% Vernacular Dailies English Dailies Hindi Dailies 47% Business dailies Source: Adex India, FICCI PwC , Angel ResearchTABLE NO 6 Top 10 PublicationsPublication Langauge Periodicity 2011 Q4 2012 Q1Dainik Jagran Hindi Daily 16410 16412Dainik Bhaskar Hindi Daily 14602 14553Hindustan Hindi Daily 12045 12157Malayala Malyalam Daily 9937 9875ManoramaAmar Ujala Hindi Daily 8842 8693The Times Of English Daily 7616 7562India 16
  • 17. Lokmat Marathi Daily 7562 7485Daily Thanthi Tamil Daily 7503 7477Rajasthan Patrika Hindi Daily 6847 6807Matrubhumi Malyalam Daily 6666 6600 Source: IRS 2012 Q1, Hansa Research,AIR Figures; All Figures in ‘000TABLE NO 7 Top 10 English dailiesPublication 2011 Q4 2012 Q4The Times of India 7616 7652Hindustan Times 3791 3805The Hindu 2240 2233The Telegraph 1273 1292Deccan Chronicle 1034 1027DNA 897 909The Economic Times 790 792Mumbai Mirror 803 777The New Indian Express 637 678The Tribune 585 624 Source: IRS 2012 Q1, Hansa Research,AIR Figures; All Figures in ‘000According to IRS Q1 2012, there is only one change in the pecking order while seven out ofthe top dailies have registered growth.India’s largest English daily, The Times of India, has registered marginal growth in the firstquarter of IRS 2012. By adding 36,000 readers in the quarter, TOI has taken its AIR to 76.52lakh compared with 76.16 lakh in the previous quarter. TOI had added 1.49 lakh readers inIRS Q4 2011 while it had lost 4,000 readers in IRS Q3 2011. The daily had added 29,000readers in the second quarter and 18,000 readers in the first quarter of IRS 2011. 17
  • 18. The No. 2 English daily, Hindustan Times, has also added 14,000 readers this quarter andrecorded an AIR of 38.05 lakh in IRS Q1 2012. It had registered 1.55 per cent of growth inthe previous quarter with AIR of 37.91 lakh. HT had lost 4,000 readers in IRS Q3 2011 butadded 45,000 readers in Q2 2011 and 1 lakh readers in the first quarter of IRS 2011.The No. 3 English daily, The Hindu, has seen a marginal decline and lost 7,000 readers inIRS Q1 2012. Its current AIR stands at 22.33 lakh compared with 22.40 lakh in the previousquarter. The daily had added 71,000 readers and registered more than 3 per cent of growth inIRS Q4 2011. The paper had added 92,000 readers in IRS Q3 2011. It had lost 18,000 readersin Q2 2011 and 20,000 readers in the first quarter of IRS 2011.The Telegraph, from ABP Group, has recorded a marginal growth in its AIR over the lastquarter. It has added 19,000 readers to take its AIR to 12.92 lakh in IRS Q1 2011 against12.73 lakh in the previous quarter and 12.66 lakh in IRS Q3 2011 and 12.09 lakh in IRS Q22011. The daily had added 57,000 readers in Q3 2011 and 6,000 readers in IRS Q2 2011while it lost 35,000 readers in the first quarter.At No. 5 is Deccan Chronicle which has lost again but the loss is marginal in comparisonwith the loss in the previous quarter when the daily had lost 5.5 per cent readers. By losing7,000 readers in IRS Q1 2012, Deccan Chronicle has registered an AIR of 10.27 lakhcompared with 10.34 in the previous quarter and 10.94 lakh in IRS Q3 2011. The daily hadadded 6,000 readers in the third quarter and 53,000 readers in IRS Q2 2011 while it had lost38,000 readers in Q1 2011.DNA has also registered marginal growth by adding 12,000 readers in IRS Q1 2012 to takeits AIR at 9.09 lakh compared with 8.97 lakh in the previous quarter. The daily had registereda growth of 4 per cent in the previous quarter. DNA had 8.63 lakh readers in IRS Q3 2011and 8.24 lakh readers in IRS Q2 2011. It had added 34,000 readers in IRS Q4 2011 and39,000 readers in IRS Q3 2011.The Economic Times has made a comeback at No. 7 position by adding 2,000 readers in IRSQ1 2012. ET had lost 22,000 readers in IRS Q4 2011 and slipped to No. 8. Its current AIRstands at 7.92 lakh against 7.9 lakh in the previous quarter, 8.12 lakh in IRS Q3 2011, 7.85lakh in IRS Q2 2011 and 7.69 lakh in IRS Q1 2011. 18
  • 19. By losing 3.23 per cent readers in the first quarter of IRS Q1 2012, Mumbai Mirror hasslipped to No. 8. Its current AIR stands at 7.77 lakh compared with 8.03 lakh in the previousquarter. The daily had added 43,000 readers and registered 5.65 per cent growth in IRS Q42011 and 2,000 readers in IRS Q3 2011 but lost 22,000 readers in IRS q2 2011. MumbaiMirror had added 69,000 readers in IRS Q1 2011.The New Indian Express continues to be the fastest growing English daily with 6.43 percent growth in the first quarter of IRS 2012. It had grown by 7.41 per cent in Q4 of IRS 2011.The daily has registered an AIR of 6.78 lakh in IRS Q1 2012 compared with 6.37 lakh in theprevious quarter. TNIE had 5.93 lakh readers in IRS Q3 2011 and 5.59 lakh in IRS Q2 2011.After losing 14,000 readers in IRS Q4 2011, The Tribune has bounced back and added39,000 readers in IRS Q1 2012. Its current AIR stands at 6.24 lakh compared with 5.85 lakhin the previous quarter. The Tribune had 5.99 lakh readers in IRS Q3 2011 and 5.67 lakh inIRS Q2 2011.Average Issue Readership (AIR) of a publication is defined as the number of readers of thatpublication who have claimed to have last read it within its periodicity, i.e., last read a dailyyesterday, a weekly within the last week, a monthly within the last month, etc.This measure is considered to be a more relevant measure of ‘real’ or ‘regular’ readership,especially for newspapers, most of which have been read/consumed as a matter of daily habit.Conventionally, media planners even calculate and compare cost-benefits of dailies based onthe AIR figure. Hence, it is perhaps the most relevant to study readership trends as well interms of AIR.3.2 CLASSIFICATION OF NEWSPAPERS Newspapers can be classified into three types-frequencies of publication(daily, weekly, and so on), size, and circulation. 19
  • 20. 3.2.1. Frequency of Publication: Newspapers are published either daily orweekly. Daily newspapers are usually found in cities and larger towns. Dailies have morningeditions, evening editions, or all-day editions. Daily papers printed in the morning deliver amore complete record of the previous day’s events, including detailed reports on local andnational news, on business and financialCategories:-While most newspapers are aimed at a broad spectrum of readers, usually geographicallydefined, some focus on groups of readers defined more by their interests than their location:for example, there are daily and weekly business newspapers and sports newspapers. Morespecialist still are some weekly newspapers, usually free and distributed within limited areas;these may serve communities as specific as certain immigrant populations, or the local gaycommunity. 3.2.1.1 Daily- h A daily newspaper is issued every day, sometimes with the exception of Sundays and some national holidays. Saturday and, where they exist, Sunday editions of daily newspapers tend to be larger, include more specialized sections and advertising inserts, and cost more. Typically, the majority of these newspapers’ staff work Monday to Friday, so the Sunday and Monday editions largely depend on content done in advance or content that is syndicated. Most daily newspapers are published in the morning. Afternoon or evening papers are aimed more at commuters and office workers. 20
  • 21. 3.2.1.2Weekly:- Weekly newspapers are common and tend to be smaller than daily papers. In some cases, there also are newspapers that are published twice or three times a week. In the United States, such newspapers are generally still classified as weeklies. 3.2.1.3National:- Most nations have at least one newspaper that circulates throughout the whole country: a national newspaper, as contrasted with a local newspaper serving a city or region.. In India, newspapers like the Times of India, The Hindu, and the Hindustan Times are extremely popular and have large reader bases. Large metropolitan newspapers have also expanded distribution networks and with effort can be found outside their normal area. 3.2.1.4International:- There is also a small group of newspapers which may be characterized as international newspapers. Some, such as The International Herald Tribune, have always had that focus, while others are repackaged national newspapers or "international editions" of national- scale or large metropolitan newspapers. Often these international editions are scaled down to remove articles that might not interest the wider range of readers. As English became the international language of business and technology, many newspapers formerly published only in non-English languages have also developed English-language editions. In places as varied as Jerusalem and Mumbai, newspapers are printed to a local and international English-speaking public. The advent of the Internet has also allowed the non-English newspapers to put out a scaled-down English version to give their newspaper a global outreach.3.2.1.5Online:- Main article: Online newspaper 21
  • 22. Diario de Pernambuco, founded in 1825 is the first newspaper in all South America.Virtually all printed newspapers have online editions, which depending on the country may be regulated by journalism organizations such as the Press Complaints Commission in the UK.But as some publishers find their print-based models increasingly unsustainable, Web-based "newspapers" have also started to appear, such as the Southport Reporter in the UK and the Seattle Post-Intelligencer, which stopped publishing in print after 149 years in March 2009 and went online only3.2.1.6Customized:-A new trend in newspaper publishing is the introduction of individualization through on-demand printing technologies. Customized newspapers allow the reader to create theirindividual newspaper through the selection of individual pages from multiple publications.This "Best of" approach allows to revive the print-based model and opens up a newdistribution channel to increase coverage beneath the usual boundaries of distribution.3.2.2 Size:Format:-Most modern newspapers are in one of three sizes:-3.2.2.1Broadsheets: 600 mm by 380 mm (23½ by 15 inches), generally associated withmore intellectual newspapers, although a trend towards "compact" newspapers is changingthis.3.2.2.2Tabloids: half the size of broadsheets at 380 mm by 300 mm (15 by 11¾ inches), and oftenperceived as sensationalist in contrast to broadsheets. Examples: The Sun, The NationalEnquirer, The Star Magazine, New York Post, the Chicago Sun-Times, The Globe 22
  • 23. "Microdaily" is infrequently used to refer to a tabloid-sized free daily newspaper that offerslower ad rates than its broadsheet competitors. The content of a microdaily can range fromintense local news coverage to a combination of local and national stories.3.2.2.3 Berliner or Midi: 470 mm by 315 mm (18½ by 12¼ inches) used by European paperssuch as Le Monde in France, La Stampa in Italy, El Pais in Spain and, since 12 September2005, The Guardian in the United Kingdom.Newspapers are usually printed on cheap, off-white paper known as newsprint. Since the 1980s, the newspaper industry has largely movedaway from lower-quality letterpress printing to higher-quality, four-color process, offsetprinting. In addition, desktop computers, word processing software, graphics software, digitalcameras and digital prepress and typesetting technologies have revolutionized the newspaper. 3.2.3: Circulation and readership:-For the most part, newspapers are a mass medium, attempting to reach either a regional ornational audience. The word circulation refers to the number of newspaper sold. A fewnewspapers have a national circulation. A far greater number have only regional circulating.Some newspapers try to reach certain target audiences in other ways. As is the case withmainstream newspapers, most advertisers are local retailers, especially ethnic restaurants,travel agents, banks, and stores. Special newspapers also exist for special interest groups,religious denominations, political affiliations, and labor unions, professional and fraternalorganizations. For example, Stars & Stripes is the newspaper read by millions of militarypersonnel.The number of copies distributed, either on an average day or on particular days (typicallySunday), is called the newspaper’s circulation and is one of the principal factors used to setadvertising rates. Circulation is not necessarily the same as copies sold, since some copies ornewspapers are distributed without cost. Readership figures may be higher than circulationfigures because many copies are read by more than one person, although this is offset by thenumber of copies distributed but not read (especially for those distributed free). 23
  • 24. In India, The Times of India is the largest-circulation English newspaper, with 3.14 millioncopies daily. According to the 2009 Indian Readership Survey, the Dainik Jagran is the most-read, local-language (Hindi) newspaper, with 55.7 million readers.In the U.S., the Wall Street Journal has a daily circulation of approximately 2.01 million,making it the most widely distributed paper in the country.Circulation is certified by the Audit Bureau of Circulations which is an industry body. Itaudits the paid-for circulation of the member newspaper companies it is also related toreadershipsReadership is estimated by two different surveys, The Indian Readership Survey (IRS) andthe National readership Survey (NRS).3.2.4 NEWSPAPER READERS Newspapers readers encompass all income brackets, educational level, agegroups and ethnic backgrounds. They live in cities, suburbs, towns, resorts and rural areas.By all demographic standards the newspaper is a solid mass-market medium, representing amajor percent of adults. Historically, newspaper reading tends to be lowest among people intheir late teens and early 20s.Measuring the Newspaper AudienceNewspapers need to measure their audience, to assess their performance and spot growingopportunities. They also use the measurements, to attract advertisers. Newspapers obtain thisobjective by measuring of newspaper readership through the ABC, an auditing company.The Auditing Bureau of Circulations (ABC): The ABC is an independent auditing group thatrepresents advertisers, agencies, and publishers. This group verifies statements aboutnewspaper circulation statistics and provides a detailed analysis of the newspaper by state,town, and country. ABC members include only paid-circulation newspapers and magazines. 24
  • 25. Note that the ABC’s activities have nothing to do with setting the rates of a newspapercharges its advertisers. Newspapers to register themselves with an auditing organization suchas the ABC must provide prospective advertisers either a publisher’s statement or Post OfficeStatement. The former is a sworn affidavit and the latter is an annual statement the publisherfiles. CHAPTER 4 Company Profile Know More .No Less. 25
  • 26. 26
  • 27. 4.1 History:Started in 1975 by the Ananda Bazar group in Calcutta, Business Standard hived off as aseparate company in 1996. Business Standard is the second largest read among BusinessDailies, a position which has been reconfirmed by the DMS4 and 5 studies .According to thesyndicated study conducted by AC Neilson –ORG-MARG Business Standard has emerged asthe second most preferred amongst Business Dailies.In a media survey by ORION PR, 2006, Business Standard was ranked No.1 amongbusiness media for professionalism in dealing with corporate .Supported by over 30 years atthe forefront of business reportage, with one of India’s strongest editorial teams and anexclusive tie-up with the world’s business paper Financial Times of London.This rapid expansion phase of Business Standard started after it was bought by a Mumbai-based financial investor who launched a new edition .The Financial Times of London took13.85% equity stake in Business Standard limited in the year2004 but sold it back to Kotakgroup in 2008.T. N. Ninan was editor from 1993 to 2009. In January 2010, Ninan became chairman andeditorial director of BSL and was succeeded as editor of Business Standard by Dr SanjayaBaru.The Editorial Director and Chairman of BS is Mr. T.N.Ninan, India’s best-known andmost respected business journalist, who was earlier editor of The Economic Times. He is withBS since 1993. Mr. A K Bhattacharya, Group Managing Editor is a former editor of ThePioneer and associate editor of Economic Times.The paper sells over 2,50,000 copies daily, and has a reputation for responsible journalismand for its stimulating editorial page. It has pioneered the ranking of the wealthiest Indians (inthe Billionaire Club), and offers along with the paper free monthly magazines on motoringand aviation. Business Standard Newspaper follows a niche Strategies.4.2 Background:Business-standard.com is the online property of Business Standard Ltd (BSL), publishers ofIndia’s leading business daily, Business Standard. Business Standard is one of the premiumfinancial dailies of the country, has always been committed to the goals of upholding and 27
  • 28. strengthening quality and objective journalism in respect of news and continually achievinghigher standards of journalistic performance in an increasingly competitive milieu. The HeadOffice of Business-standard is located in Delhi. In Pune, the company started its operation inthe year 2005 and its office is located at ShivagiNagar (ModiBaug). This is an establishedcompany in the media sector which excels itself in providing information and news infinancial sector.Business Standard is the most preferred choice in vital decision making process. It helps thereaders in –“keeping ahead of the market.” Business papers are an important tool of decisionmaking and the most preferred choice in this vital decision making process is BUSINESSSTANDARD. It ensures a better perspective on every day investment, keeping you ahead ofthe markets.It is probably the only daily publication where more than 80% of the readers are decisionmakers. With the business acumen of its Managers and proficiency of its Editors, theBusiness Standard is quickly moving towards the center stage of Indian Journalism.Business Standard Limited is also into outsourcing business which comprises of printingmagazines and placing ads for companies like Reliance-“Life First”, Tata AIG-“Foresight”, HDFC Mutual Fund-“In –Touch Mutually”, Nokia-“connecting people”.The chain of services provided by BSL doesn’t end here but there are other syndicationservices like that of booking air tickets and hotel room which are available on the BSLwebsite. (www.business-standard.com) 28
  • 29. 4.3 National Presence Business Standard English and Hindi has a circulation of over 217000* copies and a print order of over 240000 copies and is published from top 12 locations in the country.  Mumbai  New Delhi  Kolkata  Chennai  Bangalore  Hyderabad  Ahmadabad  Chandigarh  Cochin  Pune  LucknowIt is probably the only daily publication where more than 80% of the readers are decisionmakers.Business Standard is the only business newspaper to have a foreign partner & FinancialTimes had came to this decision after evaluating all the other business dailies in the countryon grounds of most credible and unbiased business journalismThe regular panel of columnist consists of  B Debroy, A V Rajwade - Forex expert  T Thomas - Ex Chairman HLL  G.N Bajpai - Ex Chairman SEBI)  Suman Bery – Director General, NCAER  Shankar Acharya – Former chief economic adviser, Govt of India  Deepak Lal – Prof. of Economics, UCLA  M Govinda Rao – Director, National Inst of Public Finance 29
  • 30.  Ravi Mohan – Managing Director, CRISIL  Surjit Bhalla – Managing Director, Oxus Research  Arvind Subramanian4.4 What the Opinion leaders say about BS…Manmohan Singh – Prime Minister (part of his speech, as chief guest of BusinessStandard Awards 2005)I can confess to a certain element of personal interest in this function today, as I have beenloyal reader for nearly 3 decades. When I started reading Business Standard, it used to be anafternoon newspaper in New Delhi, and it is to Mr. Ninan’s credit that he succeeded not onlyin making it a morning news paper in our capital city, but also for starting new editions acrossthe country. I therefore compliment the management and editorial team of Business Standardfor their professionalism, integrity and leadership in an important segment of our nationalmedia today.Mukesh Ambani - (part of his Speech, at Business Standard Awards 2005)I have followed the growth of business Standard with great admiration. It exemplifiesexacting standards in economic & enterprise reporting. It is admired for both quality andintegrity.Sir David Bell – Chairman (Financial Times)Our investment in Business Standard Ltd. will help us bring the FT into the daily lives ofevery business person in India, much like it is in the rest of the world. “Business Standardsdedication to the highest standards of journalism has long made them a close partner of ouWeare delighted to make an investment in their future, and in the future of Indian publishing.” 30
  • 31. CHAPTER 5 Product Profile5.1 Business Standard as a Product TABLE NO 8 1) The StrategistMonday 1) Business Analyzing issues in Education Management 2) Brand World Daily Sections 3) Digital Consumer are 4) Business Law 2)The Smart 1) Economy 1) SME World Investor: & PolicyTuesday (Small & Medium Comprehensive 2) Companies Enterprises) investment guide 3) Issues & Insights 2)The Smart 4) Internation 1) Business Life Investor: al BusinessWednesday Comprehensive 5) Opinion investment guide (Editorial) 2)The Smart 6) Money & 1) ICE World Investor: MarketThursday (IT, Telecom, Comprehensive Contain detail news Entertainment World) investment guide on Stocks, Mutual fund rates, Money & 2)The Smart Currency. One of the 1) Business Life Investor: main feature is BSFriday Comprehensive 200 investment guide 1) Weekend BS MotoringSaturday Information about life Information about style, art, travel, automobile sector portraits of wealthy people, real estate, golf, Book review etc.BS-200: it is a one of a kind vertically laid out tablet shaped stock page, which is designed togive the serious business reader a unique edge. It evaluates the stocks of 200 of India’s bestcompanies on the basis of 22 parameters and couples this with insightful coverage ofcompanies and an extensive spread of all the markets. 31
  • 32. 5.2 Monthly magazines 5.2.1 Business Standard Motoring (BSM) BSM is among India’s most regarded motoring magazines Led by a team which is passionate about automobiles – which reflects in the loyal readership that it commands. A abridged version of the news stand copy is circulated to readers of Business Standard Among many firsts, the BS Motoring award is the oldest and most respected. 5.2.2. Indian Management: A comprehensive monthly magazine on the happening in Indian Business Scenario Experts contribute regularly on the latest in the world of management Well researched articles provide the needed depth to get a grasp of the sector Most B-schools recommend Indian Management as a must read 32
  • 33. 5.2.3 Annual’s MagazinesThe Fund Manager - Covers the high points and performances of Mutual Funds. An annualguide to smartly invest in mutual funds. Includes profiles of top fund managers.The Billionaire Club – Listing of India’s richest businessmen and executives. The onlyannual listing featuring India’s growing super rich community.Banking Annual – Performances of the banking sector. Annual ranking of banks, exploringthe mantras adopted by top-rated banks to succeed.BS 1000 – A guide to India’s top 1000 companies. An annual reference book on corporateperformance. Analyses and rates top 1000 listed companies.5.2.4 Business Standard BooksSatyam SagaPolitical ProfileIndia 2008 , India 2009 ,India 2010, India 2011, India 2012Tax Shashtra 33
  • 34. 5.2.5 Business Standard Hindi editionBusiness Standard (Hindi) is published from 7 centers since 16 Feb. 2008 and is targetedtoward Hindi speaking middle and small businessman. The Economic Times launched itsHindi edition a few days later. BS is trying to reach out to the SEC A1, B1 and B2 categoriesin the Hindi speaking belt. Targeted largely at 25+ men, the newspaper considers everyone inthe business – from the smallest traders and manufacturers to investors, brokers, grainmerchants, commodity traders, and dealers in gold and silver. In terms of demographics, thepaper is looking at a presence Maharashtra upwards, and it is present in almost every state,except Rajasthan.5.2.6 BS Saturday-weekendThe weekend edition also comes up with a supplement “Weekend” which covers newsrelated to what’s latest in making the living better, the lifestyle of rich and famous ,holidayspots ,where to spend your money and luxuries.The pages are named as  Living  Spend  Entertainment  Skyline  Motoring5.2.7 Supplements of Business StandardThe Strategist (Monday)-covers issues of marketingand management.Weekend (Saturday)-personalities, living and 34
  • 35. Lifestyle.5.2.8 PIONEERS AND CONTRIBUTERSAmong the other senior journalists in the team are:  A.K.Bhattacharya, former editor of The Pioneer and associate Editor of the Economic Times,  Shyamal Majumdar, former resident editor of The Financial Express.Business Standard’s stable of specialist contributors includes some of the sharpest minds ineconomics and business.  Shankar Acharya, former Chief Economic Advisor, government of India,  Subir Gokarn, Chief Economist,  Crisil, Deepak Lal, Professor of Economics, UCLA,  Bibek Debroy, Director, Rajiv Gandhi Institute for Contemporary Studies,  Suman Bery, Director-General, National Council of Applied Economic Research,  Alexander Nicoll, Assistant Director, International Institute for Strategic Studies,  Arvind Singhal, Chairman, KSA Technopak. TABLE NO 9 Pricing Chart of Business Standard with other financial newspaper: (In Pune Region) Mon Tue Wed Thur Fri Sat SunWeekdaysName ofBusiness 3.5Rs 3.5Rs 3.5Rs 3.5Rs 3.5Rs 6Rs -newspaperStandard 3Rs Rs. 10Economic 3Rs 3Rs 3Rs 3Rs 3RsTimes Financial 4Rs 4Rs 4Rs 4Rs 4Rs 6Rs 10RsExpressBusiness Line 4Rs 4rs 4Rs 4Rs 4Rs 4Rs 3RsMint 3Rs 3Rs 3Rs 3Rs 3Rs 3Rs - 35
  • 36. The annual cover Price of Business Standard is Rs. 1208. It provide subscription scheme atRs 775 for 12 months and Special 9 month Subscription scheme is available for educationalinstitutions at Rs. 280 only.Economic times market share in Pune is around 55% of total sale of financial newspaper inPune. The price of economic times is not constant throughout week. They are doing pricemanipulation daily. That might be the success of Economic Times in the market because thisis also one type of pricing policy of the product. Even customer is paying more than realitybut he is not actually feeling while paying for the product because of price fluctuation.5.2.9 Business Standard Tagline“Know More. No Less.” .5.2.10 AdvertisingAdvertising is a paid form of non personal presentation of goods or services. By an identifiedsponsors. It can be done using any form of media like T.V. Radio, Print media ,HoardingsetcBusinesses need to advertise for the following four main reasons:  To raise customer awareness.  To remind customers about existing facilities.  To persuade customers to switch from rival businesses.  To improve and maintain the image of the business.5.3 PRODUCT RANGE AND VARIETY5.3.1 BUSINESS STANDARD AND IT’S OFFERSBusiness Standard was launched in Pune on 2006 and has received an overwhelmingresponse from its esteemed readers in Pune. In last 6 years Business Standard has emerged asa strong player in the print Media industry. Business Standard’s English & Hindi edition has 36
  • 37. a combined average readership of 2,17,000 throughtout India making it a strong No: 2 brandin Financial Daily.Business Standard has the best of journalistic talents in the country that put together theircreative abilities, resulting in excellent of coverage of news, events and entertainment acrossthe world. The paper brings a refreshing change to financial newspaper scenario. It is offeredin an international format with separate sections for International Business, Economy &policy, Companies, Market, Smart Investors and BS 200 etc.1) The price of Business Standard is Rs.3.50/- from Monday to Friday and Rs.6.00/- onSaturday.2) TABLE NO 10 One/ Two year subscription offer for anyoneSUBSCRIPTION VENDOR PRICE SPECIAL OFFER YOU SAVE (RS.)TERM PRICE (RS.)1 YEAR 1208 775 4332YEAR 2416 1500 9163) Offer for Hotels, Offices, Institutions Ordering 5 subscription of Business Standard newspaper for rs.105 at one place will givethe ordering hotel, offices, institutes 5 subscription free i.e Buy 5 get 5 free4)Special offer for educational institutions, colleges: 9 months subscription of Business Standard for just rs.280* ( If more than 25 students fromthe same institute are ready to subscribe for 9 months) 37
  • 38. CHAPTER 6 Research Methodology Research methodology is the process of the systematic gathering, recording and analysis of data collected by various techniques to access the response and accordingly prepare a report based on which reader opinion toward products can be analyzed. Following order of steps to be taken provide useful guidelines regarding the research process.  Research Design  Sampling  Data Collection6.1 Sampling:- Sampling is one of the most fundamental concepts underlying any research work.Most research studies attempt to make generalization or draw inference regarding thepopulation. Based on their study of a part of the population that is the sample. The sampledata enables the researchers to correctly estimate the population parameters. While doingsampling I considered Pune region.6.2 Methods of Data collection:- There are two methods of data collection 6.2.1) Primary data 6.2.2) Secondary data Primary data:- Primary data are those which are collected fresh and for the first time, thus happen to be original character. 38
  • 39. Both questionnaire and scheduled method are used for Primary data collection from Model Colony, S.B. Road, Kothrud, Shukrawar Peth, Sangamwadi, Viman nagar, Aundh, Deccan, Sadashiv Peth in Pune. Secondary data:- Secondary data are those which have already been collected by somebody else and which have already been passed through statistical process For the research have taken secondary data for comparative study of business standard with other financial daily. The literature survey and the references are taken from the official website business standard.6.3 Survey Process:For the research, customers visited were Company, Institutes, C.A. and were askedquestions which are short and specific and easily understandable. Data was also collecteddata from official sites, Published articles , research works.6.3.1 Steps Undertaken: 1. Information about the customers was collected from the company database, from yellow pages and from the local vendors. 2. Before approaching the customers call was made to them to seek the permission. 3. If the customer is not free that time ; some other date was asked and in the mean time asked for the mail id and was send the Business standard subscription package and was informed the customer to go through it. 4. At the time of meeting respondents were first asked about the readership habits of the towards business dailies and if it’s there, then ask for the particular newspaper. 39
  • 40. 5. After that question pertaining to project were asked , as to the content of the news, preference of the newspaper any specific problems pertaining to the availability ,satisfaction level and such I requested them to fill up the questionnaire. 6. All the responses along with any recommendations given by the customer was properly taken into consideration The customers were properly guided in answering the questionnaires and were helped in giving a rational response then analyzed the questionnaires and provided the results through pie charts and bar graphs. 7. In case of the corporate and the educational institutions I went for personal interviews instead of getting questionnaires filled up. 8.The natures of the interviews were generally one to one and the types of questions asked generally matched the one given in the questionnaire.6.4 Research Approach:Qualitative as well as Quantitative approach has been used for this research. But the stresswas basically on the quantitative approach.6.4.2 Quantitative approach:Quantitative data involves the generation of data in a quantitative form which can besubjected to analysis in a formal and rigid fashion.6.4.2 Qualitative approach:It is concerned with subjective assessment of opinions and behavior.6.5. Research Design:This calls for developing the most efficient plan for gathering the necessary information,design a research plan, decision on the data sources, research approaches, researchinstruments, sampling plan and contact methods. A research design is the specification of themethod and procedure for acquiring the information needed. According to my researchdesign I have performed the following Steps in the project. 40
  • 41.  Deciding objective and sub-objective of the research.  To determine the most suitable method of research.Research designs are of following types: 1. DESCRIPTIVE 2. DIAGNOSTIC 3. CAUSAL 4. EXPERIMENTAL 5.EXPLORATORY 6. APPLIED In this project, Applied type of research design has been used. This method was used sothat finding of research can be used for improving STP strategies. In this project the objectivewas to gather information regarding Positioning of Business Standard.6.6 Research ToolA structured questionnaire was used as an instrument in gathering the required informationfrom the Regular customer. It is a systematic compilation of questions. The questions werewell defined and mostly were closed ended question because of which respondent don’t haveto stress their mind. The reason why the questionnaire was preferred is due to followingreasons:a. Low cost b. Anonymity.c. Total coverage. d. Avoid bias.6.7 SAMPLING:Sampling is one of the most fundamental concepts underlying any research work. Mostresearch studies attempt to make generalization or draw inference regarding the population.Based on their study of a part of the population that is the sample. The sample data enablesthe researchers to correctly estimate the population parameters. 41
  • 42. While doing sampling I considered Pune region area and then have taken help of judgementalsampling.6.8 Sampling Method & TechniqueThere are two types of sampling methods 1. PROBABILITY METHOD. 2. NON PROBABILITY METHOD.In this research the non-probability sampling technique is used and in non-probabilitysampling Judgemental sampling was used.Judgmental sampling or Purposive sampling - The researcher chooses the sample basedon who they think would be appropriate for the study. This is used primarily when there is alimited number of people that have expertise in the area being researched.6.9 Sampling PopulationAll the existing clients like, Stock Brokers, working profesionals, Hotels, Students etc.6.10 Sample FrameThe entire list that contains the sample unit is known as sample frame: in this case my sampleframe was Pune (subscribers of newspaper) region. 42
  • 43. CHAPTER 7 Survey and Data interpretationFigure 1: Newspaper readership (general) Newspaper read 70 60 50 40 30 Newspaper read 20 10 0 Sakaal Times of India Lokmat Loksatta Among the users of Business Standard newspaper Times of India Newspaper is the most preffered newspaper followed by Sakaal. Lokmat and Loksatta both occupies the third position .Figure 2: Financial dailies ranking according to preference / perception Preference pattern 100% 90% 80% 70% Business Line 60% Mint 50% Financial express 40% Economic Times 30% Business Standard 20% 10% 0% Rank 1 Rank 2 Rank 3 Rank 4 Rank 5 43
  • 44. The respondents were asked to rank the Financial newspaper according to perception /preference on the Scale of 1 to 5 ( 1 indicates higher rank and 5 the lower) . Economic Timeswas rated as no.1 ,74 times; Business Standard was ranked no.2 , 63 times; Financial Expresswas ranked no.3 , 48 times ; Mint ranked no.4 , 40 times and Business Line was ranked no.5 ,48 times. Thus from the above finding it can be concluded that Economic Times occupies theno.1 position,Business Standard no.2, Financial Express no.3, Mint no.4,Business Line no.5.From this analysis it can be said that Economic Times is at the top of the top of the mind ofconsumers whereas Business Standard is positioned at second position.Figure 3: Factor influencing buying newspaper Factor influencing buying decision 10 3 6 Content of Newspaper Availability 9 Cost Services offered Brand name 72 This chart indicates that 72% of the respondents say that Content of the newspaper influences the most in buying newspaper.10% are influenced by Brand Name; 9% by Availability; 6% by cost; 3% by Service offered. So the usres of the Business Standard are least bothered about the cost of newspaper and are less price sensitive. Business standard customers focus more on the contents of newspaper rather than any other above mentioned factors. 44
  • 45. Figure 4: Ranking of newspaper on below mentioned criteria In order to find the positioning of Business Standard in comparison with other financial daily the respondents were asked to rank Financial dailies on functional parameters. Sub-Figure 1 : Reliability of information 100% 90% 80% 70% Business Line 60% Mint 50% Financial Express 40% Economic Times 30% Business Standard 20% 10% 0% RANK 1 RANK 2 RANK 3 RANK 4 RANK 5On the Reliability of information parameter Economic Times was ranked no.1 ,60 times ;Business Standard was ranked no.2 , 44 times ; Financial Express no.3 ,28 times , FinancialExpress was ranked no.4, 44 times, Business Line ranked no. 5, 44 times. Thus on thereliability of information parameter Business Standard is positioned no.2 in the mind ofpeople. 45
  • 46. Sub Figure 2: Relevance to your Studies / Business 100% 90% 80% 70% Business Line 60% Mint 50% Financial Express 40% Economic Times 30% Business Standard 20% 10% 0% Rank 1 Rank 2 Rank 3 Rank 4 Rank 5On the Relevance to Studies/ Business, Business Standard was ranked no.2 , 44 times ;Economic Times was ranked no.1 , 60 times ; Financial Express was ranked no.4, 44 times;Mint was ranked no.3 , 28 times, Business Line was ranked no. 5 , 44 times .Thus Business Standard is positioned no. 2 on above mentioned criteria. 46
  • 47. Sub Figure 4 :Organisation of different section in newspaper 100% 90% 80% 70% Business Line 60% Mint 50% Financial Express 40% Economic Times 30% Business Standard 20% 10% 0% Rank 1 Rank 2 Rank 3 Rank 4 Rank 5On the basis on the Organisation of different sections in Newspaper Business Standard isranked no.2, 50 times Economic Times ranked no. 1 , 64 times, Financial Express ranked no3, 28 ; Mint ranked no. 4, 48 times ; Business Line ranked no.5 , 72 times. Thus BusinessStandard is positioned as no.2 on this parameter. 47
  • 48. Sub Figure 4: Language and Style 100% 90% 80% 70% Business Line 60% Mint 50% Financial Express 40% Economic Times 30% Business Standard 20% 10% 0% Rank 1 Rank 2 Rank 3 Rank 4 Rank 5On the basis of Language and Style Business Standard is ranked no.2, 39 times, EconomicTimes is ranked no.1 , 42 times, Financial Express no.3, 32 times, Mint no. 4 , 48 times,Business Line no.5 , 66 times. Thus on the Language and Style attribute Business Standard isranked no.2 48
  • 49. Sub Figure 5 :Usage of Figures and Tables 100% 90% 80% 70% Business Line 60% Mint 50% Financial Express 40% Economic Times 30% Business Standard 20% 10% 0% Rank 1 Rank 2 Rank 3 Rank 4 Rank 5On the basis of Usage of Figures and Tables, Business Standard is ranked no.3, 30 times,Economic Times is ranked no.1 , 46 times, Financial Express no.2, 43 times, Mint no. 4 , 64times, Business Line no.5 , 64 times. Thus on the Usage of Figures and Tables attributeBusiness Standard is positioned at no.3 in the minds of the people. 49
  • 50. Sub Figure 6: Depth of the Topic 100% 90% 80% 70% Business Line 60% Mint 50% Financial Express 40% Economic Times 30% Business Standard 20% 10% 0% Rank 1 Rank 2 Rank 3 Rank 4 Rank 5On the basis of Depth of the topic, Business Standard is ranked no.2, 56 times, EconomicTimes is ranked no.1 , 64 times, Financial Express no.4, 52 times, Mint no. 3 , 31 times,Business Line no.5 , 56 times. Thus on the Depth of the topic attribute Business Standard ispositioned at no.2 in the minds of the people 50
  • 51. Sub Figure 7 : Editorial content 100% 90% 80% 70% Business Line 60% Mint 50% Financial Express 40% Economic Times 30% Business standard 20% 10% 0% Rank 1 Rank 2 Rank 3 Rank 4 Rank 5On the basis of Editorial Content, Business Standard is ranked no.2, 48 times, EconomicTimes is ranked no.1 , 68 times, Financial Express no.3, 36 times, Mint no. 4 , 40 times,Business Line no.5 , 52 times. Thus on the Editorial Content attribute Business Standard ispositioned at no.2 in the minds of the people 51
  • 52. Sub Figure 8: Appearance and Format 100% 90% 80% 70% Business Line 60% Mint 50% Financial Express 40% Economic Times 30% Business Standard 20% 10% 0% Rank 1 Rank 2 Rank 3 Rank 4 Rank 5On the basis of Appearance and Format, Business Standard is ranked no.3, 40 times,Economic Times is ranked no.1 , 48 times, Financial Express no.4, 36 times, Mint no. 2 , 30times, Business Line no.5 , 64 times. Thus on the Appearance and Format attribute BusinessStandard is positioned at no.3 in the minds of the people 52
  • 53. Figure 5: Newspaper assistance in Decision making Newspaper assistance in decision making Always 100% Most of the times 21-99.99% Sometimes 0.01-20% Not at all 0%The users of Business Standard are mostly share brokers, policy makers ,business heads,students they need to take decision concerning business , whether it may be strategic ortactical. Of the 100 respondents evaluated 67% were of the opinion that Business Standardhelps them making decisions Most of the Times, 29% said Sometimes and 4% said always itis interesting t note nobody has given the response as Not at all . Thus it can be interpretedthat Business Standard acts as an aide, guide and is very close to the decision makers. 53
  • 54. Figure 6: Section read in business standard & other financial dailies Section read 35 30 25 20 15 Section read 10 5 0 Corporate & Economic and Editorial Banking and Stock Markets Industry policy InsuranceOf the various sections in the Financial dailies Economic & Policy is the most read sectionfollowed by a close competition from Corporate & Finance. Stock markets is 3 most read,Banking and Insurance , Editorial are are at 4 & 5 position respectively. Since the readers ofthe Business Standard are business heads , policy makers they have to keep them abreast withhappening in Corporate & Industry , Economic and policy related news so those are the 2most sought out sections of Financial dailies. 54
  • 55. Figure 7: People relate Business Standard with Quality 70 60 50 40 Quality 30 20 10 0 Reliability Sophistication To the point ElegantBusiness Standard positions itself as a newspaper which goes Straight to the point. In thesurvey it has been found that Business Standard Walks the Talk , consumers has clearly giventhe verdict that one quality that they can associate Business Standard is To the Point contentit offers to the consumers. Thus Business Standard is positioned as a paper which is serious,respected ,top-notch, non-frivolous, which is found on the editorial principles of integrityaccuracy and trust. 55
  • 56. Figure 8: Would you suggest Business Standard to your friend? Suggestion 60 50 40 30 Series 1 20 10 0 Definitely Probably Not Sure Probably not Definitely not suggest suggest suggestIf a consumer is happy with the kind of service offered by a company ,the consumers pass onthe good word of mouth publicity to other reference group members. In my survey it has beenfound that 53 respondents will probably suggest the Business Standard newspaper to other.33respondents are so much fascinated by the offering of Business Standard that they willDefinitely suggest it to their friends. 9 respondents were Not Sure, they will suggest it toother only on the future services offered to them. 3 and 2 said that they will Probably notsuggest and Definitely not suggest which indicates that they were not satisfied.Thus BusinessStandard in a near future will experience an increase in the market share, which will helpBusiness Standard to position as a premier newspaper in the minds of the people. 56
  • 57. Figure 9: Opinion regarding the supplement of Business Standard 100% 90% 80% 70% 60% Poor 50% Fair 40% Good 30% Very good 20% Excellent 10% 0% The Smart Investor The Strategist The WeekendThere are three supplements that are offered by Business Standard which are published onMonday- The Strategist, Tuesday to Friday – The Smart Investor, Saturday –Weekend.Respondents were asked to rate the supplements,1. The Smart Investor: 11 rated it as Excellent,29 Very Good, 60 Good, Fair 0,Poor 0Thus this supplement is rated Good by majority of the respondents. This implies that there isa scope for improvement .2. The Strategist: 16 rated it as Excellent, 42 Very Good, 40 Good, 2 Fair, 0 Poor. Thus thissupplement is rated as Very Good by majority of respondents.Some additional areas need tobe covered in this supplement.3.The Weekend: 4 rated it as Excellent, 28 Very Good, 48 Good, 20 Fair, 0 Poor. Thussupplement is rated Good by majority of respondents. Certain areas need to,be addressed tomake this supplement more interesting. 57
  • 58. Figure10. Are you satisfied with the service of business Standard? Satisfaction level 90 80 70 60 50 40 Satisfaction level 30 20 10 0 Delighted Satisfied Not SatisfiedSatisfaction is a person’s feeling of pleasure or disappointment that result from comparingproduct’s / service perceived performance (or outcomes) to their expectations . If theperformance falls short of expectations, the customer is Disssatisfied. If performance matchesthe expectations the customer is Satisfied, if performance exceeds expectations the customeris Delighted. Of the 100 respondents 7 customers are Delighted, 79 customers are Satisfied,14 customers are Not satisfied. Thus 86 customer’s Expectations of the services are met. SoBusiness Standard is able to create a distinct place in the minds of people.The satisfaction level of customers can be improved through proper vendor tracking andmaintaining good relation with them. Otherwise it can become lethal to BS and hence will bevery difficult to retain the reader base. 58
  • 59. CHAPTER 8 Findings1. Business Standard Segment the market on geographic criteria. The geographical area is divided on the basis of Tier-1 , Tier-2, Tier-3 cities.2. The target market of Business Standard is as follows: Chartered Accountants I.T. Companies. Hotels Share Brokers Travel & Tourism Company. Real Estate. Banking & Financial Institutions. Health & Beauty Clinics . Educational Institutions Entrepreneurs3. Positioning: Business Standard is positioned as a premium product (Financial Newspaper) read by the Crème de la crème of corporate India .It is perceived as no. 2 Financial daily by the customers.4. Among the users of Business Standard ; Times of India is the most read newspaper in the general newspaper category5. According to the perception / preference of customers Business Standard is positioned as no.2 financial newspaper6. Content of the newspaper is the most influential factor in buying of the newspaper.7. Business Standard is perceived as no.2 on the following attribute ;Reliability of Information, Relevance to your studies/Business, Organisation of different sections in newspaper, Language and style, Depth of Topic, Editorial content; whereas it is positioned as no.3 on Usage of Figures and Tables and Appearance and Format. 59
  • 60. 8. Information in the Business Standard newspaper helps customers in Decision making Most of the times .9. Economy and Policy is the most most section in newspaper followed by Corporate and Industry.10.The one quality that the customers of Business Standard relate the newspaper with is‘To the Point’11. 33% respondents would Definitely Suggest Business Standard to their reference groups whereas 53% said that they would Probably suggest. 12. The Smart Investor and The Weekend supplements were rated as Good , whereas The Strategist was rated as Very Good by the customers. 13.Expectations of 86 % customers are either matched or exceeded .14.Individual Investors and stock brokers are the majority users of Business Standard . CHAPTER 9 Limitations1. As Business Standard Limited has huge customer base spread throughout the PUNE and country, so it was not possible to survey each customer hence there was limitation on sample size.2. The project was required complete within a certain time period and this was another constraint for study.3. Some customer was hesitant to share information, which they felt was confidential. In their peak hours of work respondent may have given some wrong information or incomplete information 60
  • 61. CHAPTER 10 Recommendations1. A supplement must be started giving insights into the real estate business2. A section regarding mutual funds must be introduced in The Smart Investor Supplement3. Business Standard must approach the headquarters of Institutions, Offices, Colleges so as to develop the market4. The gap between the ordering of Subscription by the customer and issuance of subscription should be reduced . As of now a customer has to wait maximum for 18 days , this should be reduced down to maximum of 10 days.5. Supply chain needs to be strengthened. 86% of the BS Readers were satisfied with BS services and 14% of BS Readers were not satisfied at all .6. Business Standard must start the Sunday Edition with a price slightly lower than competitors.7. Business Standard must focus on retaining the existing customer base , acquiring new customer is costlier.8. Business Standard must promote its offering during Business functions , National Conferences, Trade Fair, Business School Events, Induction Program, MBA coaching centers to catch the target as early as possible in their lifestage.9. Business Standard must aggressively reinforce its proposition of being “Straight to the point 61
  • 62. REFERENCESPhilip Kotler, Kevin Keller, Abraham Koshy, Mithileshwar Jha ,” MARKETINGMANAGEMENT, A South Asian Perspective”,13th Edition,2009,Published by DorlingKindersley India Pvt.Ltd. Licensee of Pearson Publication in South Asia, New DelhiC.R. Kothari, “RESEARCH METHODOLOGY, Methods and Techniques”, New RevisedEdition,2004, New Age International Publishers, New Delhi 110002Indian Readership Survey 2012 by Hansa ResearchErnst & Young ResearchWEB www.business-standard.com www.tribuneindia.com www.allindianewspaper.com www.economictimes.com www.Thehindubusinessline.com www.thefinancialexpress.com www.livemint.com Info@BestMediaInfo.com 62
  • 63. Annexure Question-naireName:……………………………………….. Occupation: …………………........................Address: ………………………… Contact no..…………………………………Q 1> Which newspaper do you read ( general) ?a) Times of India b) Lokmat c) Sakaal d) Loksatta e) Other Specify ……………..................Q 2> Rank financial dailies according to your preference/ perception ? (rank from 1 to 5, 1 indicates higher rank 5 indicate lower rank ) Business Standard Economic Times Financial Express Business Line MintQ 3) Which factor influences the most while buying newspaper ?Content of newspaper b) Availability c) Cost d) Services offered e) Brand name e) Other specify……………………Q 4) Rank the Newspapers with respect to one another on the following criteria ( 1 –Higher rank , 5- indicate lower rank ) Business Economic Mint Financial Busines Line Standard Times ExpressReliability ofInformationRelevance toyourstudies/BusinessOrganistaion ofdifferentsectionsLanguage andStyleUsage ofFigures andTablesDepth of TopiccoveredEditorialcontentAppearance andFormatQ 5> Does the information in the newspaper helps you in decision making ? a) Always b) Most of the times c) Sometimes d) Not at all 63
  • 64. Q 6> Which section do you read the most in Business Standard / Other financial dailies ? a) Corporate & Industry b) Economic and policy c) Stock Markets d) Editorial e) Banking & Insurance e) Other Specify………………………..Q 7> With what you relate Business standard ?a) Reliability b) Sophistication c) To the point d) Elegant e) Other specify……………………………………………Q 8> Would you suggest Business Standard to your colleague/ friends ? a) Definitely b) Probably suggest c) Not Sure d) Probably not suggest e) Definitely not suggestQ 9> Give your opinion regarding the supplement ( Tick the appropriate box)a) The Smart Investor: Excellent Very good Good Fair Poorb) The Strategist : Excellent Very good Good Fair Poorc) The Weekend: Excellent Very good Good Fair PoorQ 10> Are you satisfied with the the Service of Business Standard? a) Delighted b) Satisfied c) Not satisfiedQ 11> Any Suggestion to improve Business Standard services……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………....................................... Thank You 64