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Comparative analysis of various business dailies with special reference to Business Standard Document Transcript

  • 1. A Project Report onComparative Analysis ofvarious Business Dailieswith special reference to Business Standard Submitted by: ROHIT BEDI 201132 FORE School of Management
  • 2. TABLE OF CONTENTS.No. TOPIC Page. No. ACKNOWLEDGEMENT EXECUTIVE SUMMARY1 INTRODUCTION 12 THEORETICAL FRAMEWORK 33 BUSINESS STANDARD LIMITED – COMPANY PROFILE 154 RESEARCH METHODOLOGY 395 DATA ANALYSIS AND INTERPRETATION 446 FINDINGS 707 SUGGESTIONS 728 LIMITATIONS 759 CONCLUSION 7610 REFERENCES 77 ANNEXURE 78
  • 3. ACKNOWLEDGEMENTFirst and foremost, I would like to thank and express my gratitude to BusinessStandard Ltd. for giving me an opportunity to work in their esteemedorganization. During my tenure, I undertook sales & market research and gainedhands on knowledge about the Indian business daily market.I would like to thank Mr. Sanaullah Khan and Mr. Nikhil Srivastava of BusinessStandard Ltd. for helping me and providing me useful & necessary informationrelated to the project. I would take this opportunity to thank all executivesand associates of Business Standard Ltd. without whose cooperation I wouldnot have been able to complete this project.I am indebted to Business Standard Ltd. for providing me this great opportunityto gain exposure to corporate world.
  • 4. EXECUTIVE SUMMARYIndia is one of the few countries in the world to have many businessnewspapers, which not only reflects the vitality and vibrancy of the media, butalso the new vitality of our economy. The large readership for these businessnewspapers transcends from the rapidly growing corporate sector, it alsoillustrates the growing interest that the general public now evinces in economicmatters which reflect the growing importance of business and economy in ournational discourse.Business newspapers focus mainly on business news, insightful views onsignificant issues and comprehensive coverage of the stock market. They havethe ability to carry the message in greater detail and clarity, more in-depthinformation and analysis, which helps companies and their business.There is a huge scope of growth for Business newspapers in coming years asonly a paltry 0.1% of the population is reading business newspapers at present.Newspapers reach only 35 per cent of our adult population even though theadult literacy is about 65 per cent. To build this gap between readership andliteracy and also to remain competitive the publications have kept their priceslow and depended entirely on advertisers to subsidize the reader and to increasethe sales. They are using different strategies to attract the customers of differentsectors.In this report, a comparative study of various newspaper brands was done withspecial reference to Business Standard on the basis of the following parameters:  Brand Awareness  Brand Preference  Editorial Quality  Customer Service Quality  Reliability  Quality of content/analysis  Layout and Design  News Coverage  Writing Style  Supplements
  • 5. Comparative Analysis of various Business Dailies with special reference to Business Standard 1. INTRODUCTION Marketing research is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. With the growing competition and easy accessibility of products has made even more important for the marketers to keep on updating themselves about the latest trends in marketing and keep coming up with innovative ideas, to survive in the industry. For this purpose marketing research has become an important tool these days. The study is aimed at providing vital information to Business Standard regarding steps to take to increase readership against its competitors. The project involved creating awareness among public about Business Standard, collecting information about Business Standard and its competitors based on certain parameters and analysing the same to make suggestions on the possible steps that could be taken for increasing the client base of business standard and promote loyalty among the customers towards this daily. The target customers for BS can be categorized into two broad categories: Individual buyers and Institutional sector which includes colleges, B-schools, insurance companies, hotels, financial institutions, IT companies, brokerage firms, manufacturing sector etc. 1.1 Rationale of the Study The project report on Business Standard is made keeping in view the changing need of customers and ever increasing awareness. As the number of newspapers being published in Indian market is increasing, the competition is huge. When we talk about business newspapers, there are six prominent business dailies being published in India. Among these The Economic Times is clearly in the lead in terms of AIR by a huge margin. Under such circumstances and with no strong background unlike ET, it is very difficult for newspapers like Business Standard to compete. But with a sound understanding of the country demographics and emerging market trends it is possible to develop brand loyalty among the target customers as shown by HT’s business daily Mint which stands at no. 2 in terms 1
  • 6. Comparative Analysis of various Business Dailies with special reference to Business Standard of AIR. BS stands at the third position as far as readership is concerned. But there is still a lot of scope of improving its position. This project is a detailed research of the target customers of business dailies, their perception about the prominent dailies, the attributes which they find the most attractive to have in a business daily, market share of different dailies, SWOT analysis and potential growth opportunities of Business Standard. So in this project I have done a research analysis where in I have analyzed how company offers great deal of its products and what is the satisfaction level of customers which ultimately helps finding market potential for Business Standard. 1.2 Objectives of the Study  To identify the target market for business dailies  To estimate the newspaper brand preference among the target customers  To study different business dailies on the basis on certain attributes  To suggest steps for Business Standard to increase its share in the newspaper market 1.3 Importance of the Study The study involves a comparative analysis between Business Standard and other prominent business dailies in Delhi. The study will help BSL know the readers’ opinion about Business Standard and what they expect from a business daily. It will help Business Standard Ltd to find out its weak points in comparison to other prominent business dailies and implement the necessary steps to improve its market share, especially in Delhi. 2
  • 7. Comparative Analysis of various Business Dailies with special reference to Business Standard 2. THEORETICAL FRAMEWORK 2.1 Overview of the Print Industry Printing Industry encompasses numerous fields of every economy. Printing Industry generates a wide range of products which require in every step of our everyday life. Starting from Newspapers, Magazines, Books, Post Cards to Memo Pads and Business Order Forms each are the products of Printing Industry. Other than the direct contributions, there are many indirect influences of Printing Industry up on the economy. This is because, all the activities like Binding, Embossing which generate considerable amount of income and employment are related closely with the Printing Industry. Packaging industry and Advertising Industry in many ways depend on the Printing Industry. In the Printing Industry, the main Printing Techniques that are used are:  Lithography - This technique emphasizes on economical use of color.  Flexography - This technique produces vibrant colors and is used for printing newspapers and books.  Gravure - This technique is famous for Print Quality and Print Formats and is mainly used for product printing to be used in  Packaging industry.  Letterpress - This technique is used when printing is done on raised surfaces.  Screen Printing - This technique is mainly used to print designs on fabrics. 2.2 History of Indian print industry Indian print media is at a massive business in the media world and its newspapers are said to offer majority of national and international news. The history of newspaper in India began in 1780, with the publication of the Bengal Gazette from Calcutta. James Augustus Hickey is considered as the "father of Indian press" as he started the first Indian newspaper from Calcutta, the Calcutta General Advertise or the Bengal Gazette in January, 1780. In 1789, the first newspaper from 3
  • 8. Comparative Analysis of various Business Dailies with special reference to Business Standard Bombay, the Bombay Herald appeared, followed by the Bombay Courier next year (this newspaper was later amalgamated with the Times of India in 1861). The first newspaper in an Indian language was the Samachar Darpan in Bengali. The first issue of this daily was published from the Serampore Mission Press on May 23, 1818. The first Hindi newspaper, the Oodunt Marthand began in 1826. Since then, the prominent Indian languages in which papers have grown over the years are Hindi, Marathi, Malayalam, Kannada, Tamil, Telugu, Urdu and Bengali. 2.3 Printing Industry in India Print industry in India is the worlds second largest with over 90 million copies in circulation daily after China with 130 million copies in circulation daily. Most newspaper has an online presence and a growing view counts on their portals. Much of the entertainment and media segments are now focusing on growth in regional areas and smaller towns. Year 2009, a year when there was a slowdown, the regional print showed growth in local to local advertisement. In 2010, regional print further increased its share in overall print advertisement revenue pie. Regional papers give advertisers access to localized populations and their niche target audience, difficult to do via national broadcast media. Newspapers have realized value and have gone one step further and have launched area specific newspapers. Magazines have not been at their best performance in past few years. However, niche magazine are doing well and is expected to show positive growth. The major challenge faced by this segment of media and entertainment industry is newsprint which continues to threaten profitability. Newsprint forms a major component of the cost of publishing a newspaper. It is roughly 40 -50 percent of the total cost. The Indian language papers have taken over the English press as per the latest NRS survey of newspapers; the main reason being the marketing strategy followed by the regional papers, beginning with Eenadu, a Telugu daily started by Ramoji Rao and the second being the growing literacy rate. Increase in the literacy rate has direct positive effect on the rise of circulation of the regional papers. The people are first educated in their mother tongue as per their state in which they live for e.g. students in Maharashtra are compulsory taught Marathi 4
  • 9. Comparative Analysis of various Business Dailies with special reference to Business Standard language and hence they are educated in their state language and the first thing a literate person does is read papers and gain knowledge and hence higher the literacy rate in a state the sales of the dominating regional paper in that state rises. Newspaper Categories While most newspapers are aimed at a broad spectrum of readers, usually geographically defined, 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. More specialists 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 gay community.  Daily 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.  Weekly 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.  National 5
  • 10. Comparative Analysis of various Business Dailies with special reference to Business Standard 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 the United Kingdom, there are numerous national newspapers, including The Independent, The Times, The Daily Telegraph, The Guardian, The Observer, The Daily Mail, The Sun, The Daily Express and The Daily Mirror. In the United States and Canada, there are few national newspapers. Almost every market has one or two newspapers that dominate the area. Certain newspapers, notably The New York Times, The Wall Street Journal and USA Today in the US, and The Globe and Mail and The National Post in Canada are available throughout the country. 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.  International 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. 6
  • 11. Comparative Analysis of various Business Dailies with special reference to Business Standard Some of the National Newspapers of India: English Dailies  The Times of India  Hindustan Times  The Hindu  The Deccan Chronicle  The Telegraph  The Statesman  Daily News and Analysis  The Pioneer  The Economic Times  The Tribune  The Indian Express  Deccan Herald  The New Indian Express  Asian Age Business Dailies  Business Standard  Economic Times  The Financial Express  Mint  The Hindu Business Line  Financial Chronicle Hindi Dailies  Dainik Jagran  Dainik Bhaskar  Hindustan  Amar Ujala  Rajasthan Patrika  Punjab Kesari  Navbharat Times  Nava Bharat (Madhya Pradesh and Chhattisgarh) 7
  • 12. Comparative Analysis of various Business Dailies with special reference to Business Standard  Prabhat Khabar Newspapers in India are measured on two parameters:  Circulation Circulation is certified by the Audit Bureau of Circulations which is an industry body. It audits the paid-for circulation of the member newspaper companies  Readership Readership is estimated by two different surveys, The Indian Readership Survey (IRS) and the National Readership Survey (NRS). Supplements Apart from the most obvious gains in terms of being able to have access to local, national and international products and services via advertisements, supplements play a very crucial role in fostering a spirit of in depth probing amongst the reading populace. In contrast to the main paper, which pre- dominantly enlists hard facts and figures, a supplement allows the reader to pursue newer perspectives for it provides the space for a more detailed analysis. The delightfully eclectic mix of topics covered in supplements, written in a more florid but fluid language, with the accompaniment of visually appealing graphics, manages to sustain a reader’s attention for a longer period of time. It works more on the lines of infotainment, where readers are bombarded with colossal amount of information on gadgets, books, music, movies, theatre, automobiles, shopping and real estate, local news and celebrity gossip, food and health and much more in a more engaging and relaxed mode. All the upcoming events and workshops can easily be listed in a supplement for a reader’s quick perusal. Supplements are more interactive in the sense that it always invites the reader to participate in niche subject-specific crosswords, sudoku, amusing quizzes, quirky sms polls and other enjoyable contests with attractive gift vouchers. It is not an exaggeration to state that a lot of consumers buy specific newspapers only to get hold of their favourite supplement for the latest book or movie review by their much loved columnists or to read tips on how nurse a break-up or how fix a hair-loss disorder by some expert. By their inherently local nature, readers feel much closer to newspaper 8
  • 13. Comparative Analysis of various Business Dailies with special reference to Business Standard supplements which serve the purpose of an all-encompassing guide to all their daily necessities, business and pleasure. They also possess a certain literary merit and hone a reader’s aesthetic sensibilities. Some newspapers supplements, by virtue of their smart design and content have become larger than the main newspaper they are affiliated to and have replaced the need of a book in times of tedium. Pull outs like t2 in The telegraph {Kolkata}, Brunch in Hindustan Times, Expresso and Zeitgeist in The New Indian Express, Metroplus in The Hindu and Education times and Times life of The Times of India are supplements readers swear by. 2.4 Growth Scenario of the Print Industry About 5,000 newspapers, 150 of them major publications, are published daily in nearly 100 languages. Over 40,000 periodicals are also published in India. The periodicals specialize in various subjects but the majority of them deal with subjects of general interest. During the 1950s, 214 daily newspapers were published in the country. Out of these, 44 were English language dailies while the rest were published in various regional languages. This number rose to 2,856 dailies in 1990 with 209 English dailies. The total number of newspapers published in the country reached 35,595 newspapers by 1993 (3,805 dailies). In 2007, newspaper sale in the country increased by 11.22%. By 2007, 62 of the world`s best selling newspaper dailies were published in countries like China, Japan, and India. India consumed 99 million newspaper copies as of 2007, making it the second largest market in the world for newspapers. The Indian print media industry is expected to grow by 9.6 per cent over the period 2010-15. The print industry is expected to grow from Rs 128 bn in 2006 to Rs 232 bn by 2011, at 12.6% CAGR. While the newspaper industry is estimated at Rs 112 bn, the magazine segment is valued at Rs 16 bn. The newspaper industry is also projected to perform well for the next five years growing at a CAGR of 10.1 per cent according to a report titled “India Entertainment and Media Outlook 2011” by PricewaterhouseCoopers. Indian print industry is growing strong and is expected to grow similarly while the global print industry is moving towards digitalization and showing a negative growth rate year on year. 9
  • 14. Comparative Analysis of various Business Dailies with special reference to Business Standard The bright future and the immense scope of the Indian print media have also aroused the interest of foreign investors and recently the government has opened up the sector to foreign investment. Foreign media has also shown interest in investing in Indian publications. The revenues for Indias newspaper market are generated from advertising and circulation. Indias growth rate in this segment is poised to be higher than the average rate of growth in the Asia- Pacific region over the next four years. 2.5 Trends in the Print Industry Printing Industry Trends has been very significant over the years. This trend is actually the force that is determining the future of Printing Industry. The digital technologies and their innovative applications have changed the entertainment sector considerably, especially the content production and its quality. Internet has also emerged as the latest revenue stream and has become one of the fastest growing advertising medium and has made a significant impression on the entertainment industry. The increasing use of Internet in the publishing world has brought a revolution in the Printing Industry. Remote Distribution of Data and Variable Data Printing has been possible by the use of Internet. The special ability of Internet of distributing large quantities of data to diverse locations bridged the gaps of Printing Industry. Earlier, almost all printing work was used to be done through press. But, in todays world of technological advancement, many printing work is done from customers home printer. Internet publications have opened a new horizon for printing industry. The Publishing Companies are realizing that it is better to distribute data through Internet in the first step and to print them in the second step. This is because if they carry out the traditional process of firstly printing and then distributing then it may generate much more costs. So, in this context, the biggest challenge faced by the companies which operate through Printing Press is of lowering costs. 10
  • 15. Comparative Analysis of various Business Dailies with special reference to Business Standard The pressure of lowering costs has risen more because of the recent technological advancements which have invented the concept of e-commerce. E- Commerce has lowered administration costs and the proofing time. To keep pace with these emerging technologies, the Printing Industry has now concentrated on Digital Printing. But this advent of technology in the field of printing is killing the Cottage Print Industry. According to survey, the number of companies in the cottage print industry is going to decline sharply within 2010. But as a whole we can say that Printing Industry has already ridden a growth wave through technological innovations and further growth can come only through new innovations and high level of productivity. In many developed countries newspaper circulation is falling due to social and technological changes such as the availability of news on the internet. On the other hand, in some developing countries circulation is increasing as these factors are more than cancelled out by rising incomes, population, and literacy. 2.6 Government Initiatives The Government has initiated the following measures:  The government has allotted US$ 50.13 million in the current Five-Year Plan (2007-2012) for various development projects for the film industry. The funds will be utilised to set up a centre for excellence in animation, gaming and visual effects  To offer better audio quality and sharper picture to millions of its viewers, public broadcaster Doordarshan plans to go completely digital by 2017. According to the Consolidated Foreign Direct Investment (FDI) Policy document released by the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, Government of India, foreign investment, including foreign direct investments (FDI) and investment by non-resident Indians (NRIs)/person of Indian origin (PIO)/foreign institutional investor (FII), up to 26 per cent, is permitted for publishing of newspapers and periodicals dealing with news and current affairs under the Government route. 11
  • 16. Comparative Analysis of various Business Dailies with special reference to Business Standard The Consolidated FDI Policy document brings forth the following guidelines for the M&E industry:  Terrestrial Broadcasting FM (FM Radio): Foreign investment, including FDI, NRI and PIO investments and portfolio investments are permitted up to 20 per cent equity for FM Radios Broadcasting Services with prior approval of the Government subject to such terms and conditions as specified from time to time by Ministry of Information and Broadcasting for grant of permission for setting up of FM radio stations.  Cable Network: Foreign investment, including FDI, NRI and PIO investments and portfolio investments are permitted up to 49 per cent for cable networks under Government route subject to Cable Television Network Rules, 1994 and other conditions as specified from time to time by Ministry of Information and Broadcasting (I&B).  Direct–to-Home: Foreign investment, including FDI, NRI and PIO investments and portfolio investments are permitted up to 49 per cent for Direct to Home under Government route. Within the limit of 49 per cent, FDI will not exceed 20 per cent. This will be subject to such guidelines/terms and conditions as specified from time to time by Ministry of Information and Broadcasting (I&B)  The total direct and indirect foreign investment including portfolio and foreign direct investment in Headend-In-The-Sky (HITS) Broadcasting Service shall not exceed 74 per cent. FDI upto 49 per cent would be on automatic route and beyond that under government route. This will be subject to such guidelines/terms and conditions as specified from time to time by Ministry of Information and Broadcasting (I&B) FDI policy in the Up-linking of TV Channels is as under:  Foreign investment of FDI and FII up to 49 per cent would be permitted under the Government route for setting up Up-linking HUB/ 12
  • 17. Comparative Analysis of various Business Dailies with special reference to Business Standard Teleports. FDI up to 100 per cent would be allowed under the Government route for Up linking a Non-News & Current Affairs TV Channel; Foreign investment of FDI and FII up to 26 per cent would be permitted under the Government route for Up-linking a News & Current Affairs TV Channel subject to the condition that 48 the portfolio investment from FII/ NRI shall not be "persons acting in concert" with FDI investors, as defined in the SEBI(Substantial Acquisition of Shares and Takeovers) Regulations, 1997 2.7 Market Share of Business Dailies Business Daily Market Share (%) Economic Times 61.04% Mint 18.66% Business Standard 11.90% The Hindu Business Line 8.24% Others (including Financial Express, 0.16% Financial Chronicle etc.) Source: IRS Q2 2011 As we can see from the above table, in terms of market share Business Standard stands at no. 3 among the business dailies in India after Economic Times (1) and HT Mint (2). Market Share (%) Economic Times 8.24% 0.16% Mint 11.90% 18.66% Business Standard 61.04% The Hindu BusinessLine Others Source: IRS Q2 2011 13
  • 18. Comparative Analysis of various Business Dailies with special reference to Business Standard Average Issue Readership (AIR) of a publication is defined as the number of readers of that publication who have claimed to have last read it within its periodicity, i.e., last read a daily yesterday, 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 calculate and compare cost-benefits of dailies based on the AIR figure. Hence, it is perhaps most relevant to study readership trends in terms of AIR. 2.8 Prices of Business Dailies Business Daily Price Economic Times Mon – Fri : Rs.3 Sat & Sun : Rs.10 Mint Mon – Fri : Rs.3 Sat : Rs.5 Business Standard Mon – Fri : Rs.3.5 Sat : Rs.4.5 Sun : Rs.7 The Financial Express Mon – Fri : Rs.4 Sat : Rs.6 Sun : Rs.8 The Hindu Business Line Mon – Sun : Rs.5 Asian Age Mon – Sun : Rs.5 Source: Interaction with newspaper vendor 14
  • 19. Comparative Analysis of various Business Dailies with special reference to Business Standard 3. BUSINESS STANDARD LIMITED - COMPANY PROFILE 3.1 History Started in 1975 by the Ananda Bazar group in Calcutta, Business Standard hived off as a separate company in 1996. Business Standard is the second largest read among Business Dailies, a position which has been reconfirmed by the DMS4 and 5 studies. According to the syndicated study conducted by AC Neilson–ORG- MARG, Business Standard has emerged as the second most preferred amongst Business Dailies. 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 took 13.85% equity stake in Business Standard limited in the year 2004 but sold it back to Kotak group in 2008. Mr. T. N. Ninan was editor from 1993 to 2009 who’s one of the India’s best- known and most respected business journalists, who was earlier editor of The Economic Times. In January 2010, Ninan became chairman and editorial director of BSL and was succeeded as editor of Business Standard by Sanjaya Baru. The regular panel of columnist consists of  Bimal Jalan, former governor of the Reserve Bank of India  Shankar Acharya, former chief economic advisor to the Government of India  Deepak Lal, professor of economics, UCLA  Suman Bery, director-general, National Council of Applied Economic Research  Abheek Barua, chief economist of HDFC Bank  Nitin Desai, former chief economic advisor and former under-secretary general at the United Nations  Surjit Bhalla, chairman of OXUS  Arvind Subramanian, professor at the Peterson Institute for International Economics  M. Govinda Rao, director of National Institute of Public Finance and Policy  AV Rajwade, foreign exchange consultant 15
  • 20. Comparative Analysis of various Business Dailies with special reference to Business Standard  Arvind Singhal, chairman, Technopak Advisors 3.2 Background Business Standard is an Indian financial daily newspaper published by Business Standard Ltd (BSL) in two languages, English and Hindi. Started in 1975 in Kolkata by the Ananda Publishers group, Business Standard was hived off as a separate company in 1996. It was then bought by Mumbai-based financial investors led by the Kotak Mahindra Bank, after which began a phase of rapid expansion with the launch of new editions. It is published from 12 centres - Mumbai, New Delhi, Kolkata, Bangalore, Chennai, Ahmadabad, Hyderabad, Chandigarh, Lucknow, Pune, Kochi and Bhubaneswar. 3.3 Mission and Vision Vision "Providing information that creates wealth and enriches lives." Mission 16
  • 21. Comparative Analysis of various Business Dailies with special reference to Business Standard “To deliver superior value to our customers, shareholders, employees and society at large“ 3.4 Content  Comprehensive and in-depth analysis of business news.  BS 200- Covering the most traded stocks with evaluation across 22 parameters.  4 full pages focusing totally on stocks and mutual funds.  4 pages everyday of finance and commodity news, providing insights you can act on for half the BS 200 companies.  2 pages of investment advice and articles to manage personal finance every weekday.  Thought provoking editorial opinion that is highly regarded for its unbiased viewpoint and refreshing originality.  BS is published Monday to Saturday in all locations.  On Sundays, the paper is published from Mumbai, Delhi, Kolkata & Bangalore.  Extensive coverage of the markets has been BS’s forte and is eagerly consumed by investors – big and small. To cater to needs of the retail investor, special focus has been provided in the form of extensive coverage on Personal Finance and a dedicated page on investing (The Smart Investor). Content Overview: Content Editorial Property Frequency International News Financial Times Page Daily Lifestyle, Luxury & Business Life Daily Gizmos Corporate News Companies Daily Policy & Analysis Issues & Insights Daily Regional News Accent Daily Corporate Social Social enterprises Every Monday Responsibility 17
  • 22. Comparative Analysis of various Business Dailies with special reference to Business Standard Transportation Business Logistics Every Monday & Logistics Management Education & Business Education Every Monday & Training Avenues Thursday Initiative By Business Schools It, Telecom & ICE World Every Tuesday Entertainment SME Business SME World Every Wednesday Human Relation Power Zone Every Wednesday Real Estate-Market Real Estate Every Friday Scenario & Opportunities Automobiles & Ancillary BS Motoring Every Saturday Segment 3.5 Editorial Quality BS boasts of some of the best economic journalists and counts contributions from internationally acclaimed columnists. Mr. T. N. Ninan, India’s best known economic journalist is the Chairman and Editorial Director The Editorial team is lead by Dr. Sanjaya Baru, former media advisor to the prime minister. Mr. A. K. Bhattacharya, Group Managing Editor is a former editor of The Pioneer and associate editor of Economic Times. Regular columnists include many reputed names such as: Pranab Bardhan Professor of economics at university of California Surjit Bhalla Chairman, Oxus Investments Economics, Politics & Cricket Bimal jalan Ex- Gov RBI. Nitin Desai Ex UN under secretary General Gurucharan Das Author IndiraRajaraman Member of Finance Commission Ajit Ranade Aditya Birla group chief economist 18
  • 23. Comparative Analysis of various Business Dailies with special reference to Business Standard 3.6 Reader Profile  Business Standard is read by the decision makers & policy makers.  A premium product read by the Crème de la crème of corporate India.  The reader is upscale, influential and mobile. Chairman/CE President, O/MD, 14% Executive Director, Other Directors, 8% VP/GM, 59% CFO, CIO, CMO, CTO etc. 20% Chairman/CEO /MD President, Executive Director, Other Directors 3.7 Shareholders of Business Standard SHAREHOLDER SHARE (%) Kotak Mahindra 67.85% Great Eastern 27.76% Shipping Corporation Others 4.39% 19
  • 24. Comparative Analysis of various Business Dailies with special reference to Business Standard Shareholders of Business Standard 4.39% Kotak Mahindra 27.76% Great Eastern Shipping Corporation 67.85% Others 3.8 Production Chain Raw Material Printing Packaging Despatch Through Taxi Different Cities All centers In Cities Selling Vendor Reader 20
  • 25. Comparative Analysis of various Business Dailies with special reference to Business Standard 3.9 Circulation Chain Vice-President (Sales) Branch Head Territory Incharge Customer Executives Salesman Vendors Reader 3.10 Product profile The sections in a Business Standard daily are broadly divided into 2 sections:  Section I o Companies o Economy o Finance o Rest of the news 21
  • 26. Comparative Analysis of various Business Dailies with special reference to Business Standard o Take Two o Issues and Insights o Opinion o Brand World o World  Section II – The Smart Investor o The Smart Investor o Commodities o Personal Finance o Stocks o BS200 Supplements  Smart Investor(Every Monday)  The Strategist(Every Tuesday)  Weekend(Every Saturday) Business Standard Magazine  The Fund Manager  The Billionaire Club  Banking Annual  BS 1000. Business Standard Supplements:  The Smart Investor (Every Monday)  the strategist (Every Tuesday) o A sought after weekly supplement, the strategist appears every Monday. 22
  • 27. Comparative Analysis of various Business Dailies with special reference to Business Standard o Covers issues on management & marketing. Analyses critical issues through case studies. o Rich in content, the strategist relies heavily on highly researched articles so that the reader gets a complete understanding of the subject.  Weekend (Every Saturday) o “BS Weekend” Covers the topics of lifestyle, Art, Travel, Portraits of wealthy people, Real Estate, Golf, Book reviews among others. o A perfect way to start your weekend knowing the leisures of life. Business Standard Magazines (Annual):  The Fund Manager - Covers the high points and performances of Mutual Funds. An annual guide to smartly invest in mutual funds. Includes profiles of top fund managers.  Banking Annual – Performances of the banking sector. Annual ranking of banks, exploring the mantras adopted by top-rated banks to succeed.  BS 1000 – A guide to India’s top 1000 companies. An annual reference book on corporate performance. Analyses and rates top 1000 listed companies. 23
  • 28. Comparative Analysis of various Business Dailies with special reference to Business Standard Marquee: A Lifestyle Product  The tabloid theme is devoted to luxury and lifestyle as a general principle; Luxuriant lifestyles, Premium real estate and holidays, Luxury cruises and Watches, Fashion, Cars, Hotels and Spas, Jewellery, golf, accessories, imported furniture, exotic cuisines, quality spirits, office equipment, Home Interiors & home entertainment systems.  The magazine targets the super rich & the affluent who make a style statement with the luxury buys is circulated quarterly with Business Standard in Mumbai, Delhi & Banglore. 24
  • 29. Comparative Analysis of various Business Dailies with special reference to Business Standard 3.11 Competitors’ Profiles 3.11.1 The Economic Times The Economic Times is published by the Bennett, Coleman & Co. Ltd.. The Economic Times was started in 1961. It is the most popular and widely read financial daily in India, read by more than 8,00,000 people. The Economic Times is published simultaneously from 11 cities—Mumbai, Bangalore, Delhi, Chennai, Kolkata, Lucknow, Hyderabad, Ahemedabad, Nagpur, Chandigarh, and Pune. The Economic Times has its offices in Mumbai at THE TIMES OF INDIA building, Dr. D. N. Road. Its main content is based on the Indian economy, International finance, share prices, prices of commodities as well as other matters related to finance. The founder- editor of the paper when it was launched in 1961 was P.S. Hariharan. The current Editorial Director of The Economic Times and ET Now is Rahul Joshi. The Economic Times is characterized by its salmon-pink paper. It is sold in all major cities in India. In June 2009, it also launched a television channel called ET Now. 25
  • 30. Comparative Analysis of various Business Dailies with special reference to Business Standard Editors  1960s and 1970s: PS Hariharan (1961–1964), DK Rangnekar (1964– 1979)  1980s: Hannan Ezekiel, Manu Shroff (1985–1990)  Early to mid 1990s: T. N. Ninan, Swaminathan Anklesaria Aiyar  Late 1990s: Jaideep Bose  2004: Rajrishi Singhal and Rahul Joshi  2010 to present: Rahul Joshi and Rohit Saran Supplements  Brand Equity (Weekly): a weekly colour supplement that appears every Wednesday, which covers marketing, advertising, media and market research. Edited by Ravi Balakrishnan and Vinod Mahanta  Corporate Dossier is a supplement that appears every Friday along with The Economic Times, aimed at the CEOs of corporate India, with a special focus on management and strategy. Edited by Vinod Mahanta  ET Travel is a weekly all-colour supplement which covers travel and tourism aimed at the burgeoning band of Indians who want to see and know about their country and the rest of the world, through Indian eyes.  ZigWheels is a weekly all-colour supplement covering all aspects from the auto industry from new launches and trends to ancillaries and personalities.  ET Realty: a real estate supplement  ET Wealth: a personal finance weekly newspaper.  Investors Guide: analysis of equities, funds, ULIPs, Sectors etc. Special Edition The Economic Times on Sunday was revamped and now dons a new format, style and regular features on great personal content in 2011. The fresher edition hosts a variety of material not found during the weekdays. The special edition on all Sundays contains, namely: "whats news", "news in numbers", "behind the news", "spotlight", "cover story", "expert view", "economy", "centrespread", "travel guide", "food & drink", "recommended" and finally "feel smart". “feel 26
  • 31. Comparative Analysis of various Business Dailies with special reference to Business Standard smart" generally hosts a "Cocktail Conversations" article which describes a definite difference between terms, objects, persons and abstract views which are normally considered to be the same. It also contains "Behind the Lines" which gives a brief crisis that had occurred in the past, explains the crisis and the solution derived and finally gives an overview in the form of a lesson. 3.11.2 HT Mint Mint is a business newspaper from HT Media Ltd, launched in collaboration with The Wall Street Journal on 1 February 2007. It is a premium business news publication aimed at decision makers and policy makers of the country and it is the first newspaper in India to be published in the Berliner format. The current Editor of the newspaper is R. Sukumar. Stance and editorial Opinion Mints editorial stance and opinion emphasizes both the left-liberal and center- right outlook. Its editorial sections have been left-liberal on social and political issues with unconditional support for minorities over uniform application of the law. On economic matters its opinions have expressed faith in free markets and economic liberalization in general but have fallen short of the libertarian ideals. 27
  • 32. Comparative Analysis of various Business Dailies with special reference to Business Standard On free-speech matters, the paper has lent qualified support for freedom and has generally taken the position of the Congress Party. Mint carries a short and crisp editorial piece on the front page titled "Quick Edit" while the longer opinion pieces titled "Our View" and guest opinion pieces titled "My view" or "Their Views" are carried by back pages. Style The design of the Mint newspaper is geared towards presenting business and financial information in a compact format. The format itself was designed by Mario R. Garcia, who has also been associated with the re-design of the Wall Street Journal. Features Along with the print edition, Mint also has specialized online and mobile editions which can be accessed at "www.livemint.com". Livemint.com is among the fastest growing news websites in India and it attracts more than 1.5 million readers every month, majority of whom are decision makers in leading business organizations across the world. It is widely considered to be the most comprehensive and technically evolved news portal in the country that has introduced many multimedia enabled engagement platforms which give its readers the opportunity to express their point of view and interact with Mints editors and columnists. The weekend edition of the publication is called "Lounge" and it features columns on travel, fashion, arts, personal technology, parenting, and health. Circulation Mint is now Indias second most widely read national business daily. It has a readership of over 1.75 lakhs in Delhi and Mumbai [ Source : IRS 2009, R1 ], with the average reader belonging to the age group of 35 to 44. It also has editions in Ahmedabad, Chennai, Bangalore, Kolkata, Chandigarh and Pune. 28
  • 33. Comparative Analysis of various Business Dailies with special reference to Business Standard Along with Mint, HT Media also owns some of Indias largest daily newspapers - Hindustan Times and Hindustan. While the Hindustan Times is the largest read English newspaper in Delhi, Hindustan is the most widely read Hindi newspaper in Bihar and Jharkhand. HT Media also owns the radio channel Fever 104 FM, the 2nd most popular radio station in Delhi and Mumbai. Mint Supplements  Mint Lounge Lounge is the weekend edition of Mint. Every Saturday, Lounge presents a visually engaging look at the "Business of Life". With articles on Travel, Gadgets, Fashion, Books, Culture, Parenting and Food, the editors and columnists of Lounge bring the perfect work-life balance to the week.  Mint Money Mint Money is a daily section on Markets & Personal Finance that comes inside Mint. Through its researched and analysed content, Mint Money helps its readers develop an understanding of how various financial products and markets work. It provides clear and credible coverage across the entire gamut of investment products – Equities, Mutual Funds, 29
  • 34. Comparative Analysis of various Business Dailies with special reference to Business Standard Commodities, Real Estate and Insurance, which helps its readers become smart money managers. Consumers are seeking to bridge the gap between information and understanding so that they can take the right calls in today’s changing market scenario. With its clear and analysed content, Mint Money seeks to aid the consumer in bridging this gap.  Mint Indulge Mint Indulge is the Luxury and Lifestyle quarterly publication. A complimentary read for Mint’s readers across India, Mint Indulge focuses on the passions & indulgences of Indias top business leaders and serve as their best buying guide for the season. Mint Indulge showcases the most aspirational international brands which look at India as a promising market to drive the next growth wave for them. 3.11.3 The Hindu Business Line 30
  • 35. Comparative Analysis of various Business Dailies with special reference to Business Standard The Hindu Business Line is published by Kasturi & Sons, the publishers of the newspaper The Hindu located in Chennai. History Business Line started publishing in 1994. Published as a broadsheet, it has a circulation of around 185,000 copies. Circulation of Business Line on Sunday is higher than other days. Business Line is published from 14 locations: Bangalore, Chennai, Coimbatore, Delhi, Hyderabad, Kochi, Kolkata, Madurai, Mangalore, Mumbai, Thiruvananthapuram, Tiruchirapalli, Vijayawada and Visakhapatnam. Its Editor-in-Chief is Mr. N. Ram and the Joint Editor is Mr. K. Venugopal. Its staff consists of reporters and researchers. It is the only paper having a research bureau. Sections Tuesday through Saturday From Tuesday to Saturday, Business Lines main section has 20 to 24 pages. Page headings include Corporate, Information Technology, Marketing, Editorial & Opinion (2 pages), Commodities & Agribusiness, Economy, International Business, Stock Market news, Stocks and Mutual Fund quotes (5 pages), States Variety, Logistics and Market Watch. Sunday On Sundays, Business Lines main section has 18 pages. Page headings include Economy, Commodities, Corporate, International, Variety, Young Investor and Investment World-from page 8 to page 17, Incisive advice on stocks, mutual funds and deposits. Monday 31
  • 36. Comparative Analysis of various Business Dailies with special reference to Business Standard On Mondays, Business Lines main section has 16 pages. Page headings include Market Mood, economy, Information technology, AgriBusiness, Transport, Commodities Investment The New Manager-Keep your date with leaders from the world of business, Mentor-A comprehensive resource on taxation, financial systems and books, Money & Banking, Editorial & Opinion, states and Variety. Supplements MONDAY eWORLD WEDNESDAY Smartbuy THURSDAY BrandLine FRIDAY Life On the web BUSINESSLINE Online has been on the World Wide Web since June 1995. It attracts 14 million page views per month across the globe. The Sensex quotes in the front page entice a huge traffic. Pricing It is priced at Indian Rupees 4 ($0.10) on weekdays and Saturdays and Indian Rupees 3 ($0.075) on Sundays. While other newspapers like The Economic Times and The Financial Express price their Saturday and Sunday editions at Rs.7 to Rs.10, Business Line has traditionally priced the paper same throughout the week. Other Business newspapers like Mint and Business Standard dont publish on Sundays. 32
  • 37. Comparative Analysis of various Business Dailies with special reference to Business Standard 3.11.4 The Financial Express The Financial Express is published by the Indian Express group since 1961. The FE specializes in India and international business and financial news. Launched in 1961, India’s oldest financial daily, The Financial Express, is today one of the leading newspapers in the country. Part of The Indian Express Group, the newspaper publishes eleven editions in English from leading cities — Ahmedabad, Bangalore, Chandigarh, Chennai, Coimbatore, Delhi, Hyderabad, Kochi, Kolkata, Lucknow, Mumbai and Pune. It also has an edition in Gujarati, published from Ahmedabad. The newspaper has offices across the country and is headquartered in Delhi. Content The Financial Express has supported the eventual breakdown of the arbitrary control-based system that characterized the Indian economy to its emergence as a free market enterprise with accent on merit. The paper espouses the same position in its coverage of international developments. The position is based on a careful observation of the way economies have evolved in the past few decades. This is also known as a championing of the free market position. The FE columns 33
  • 38. Comparative Analysis of various Business Dailies with special reference to Business Standard and editorials articulate this opinion succinctly. The FE edit page columns are therefore the most widely read pieces among all business publications in India. Besides, the newspaper has an exclusive tie-up with The Financial Times and The Economist of London to carry its articles all days of the week on an exclusive co-branded page and the op-ed page. Columnists A number of Indian and global economic experts pen their columns for The Financial Express. These include Surjit S Bhalla, Chairman of Oxus Investments, M Govinda Rao, Director, National Institute of Public Finance and Policy, Arindam Bhattacharya, MD, Boston Consulting Group, Jayanth R Varma, Professor of finance at IIM Ahmedabad , Mahesh Vyas, MD & CEO, Centre for Monitoring Indian Economy, Krishnamurthy Subramanian faculty in finance at the Indian School of Business, Amitendu Palit of the National University of Singapore, Rajat Kathuria, Consultant for TRAI, Nirvikar Singh Professor of economics at the University of California, Madan Sabnavis chief economist, CARE Ratings, Manish Sabharwal Chairman, Teamlease Services, Ila Patnaik professor at NIPFP, Meghnad Desai prominent economist and Labour peer, Yoginder K Alagh noted economist and former Union minister and other prominent people... News FE’s news coverage is known for comprehensive sweep of economic policy making, corporate developments and market trends. For India’s fast expanding middle class of over 300 million, as per latest NSS data, plus the CEOs and government officials, the insights into the Indian growth story are particularly edifying. From business policies to market trends to new developments, The Financial Express comes packed with incisive news on every relevant issue. On weekdays there are a number of special pages which carry reports and analysis on crucial areas of the economy like—automobiles, infrastructure, entertainment, capital markets, workspace, small and medium enterprises, infrastructure, real estate, green businesses and BRIC. In addition the FE Reflect comes packed with insights, perspectives, discussion and debate that gives you food for thought. The Financial Express on Sunday focuses on the weekend reading for corporate executives. 34
  • 39. Comparative Analysis of various Business Dailies with special reference to Business Standard Supplements and Specials The newspaper has weekly supplements—Brandwagon, a four-page supplement every Tuesday on advertising and marketing. On weekdays there are special pages like: PSU Power, FE@Campus, eFE, Investor, Commodity Watch on Mondays, Personal Finance and Corporate Review; Tuesdays, Infrastructure, Show Business; alternate Wednesdays, FE Gadgets on Thursday, Alternate Fridays – FE Profile, Small & Medium Business and FE Edge, Motobahn on Saturdays. The online section of The Financial Express, www.financialexpress.com, is an up- to-date source for news on economy, business, finance, stocks and money markets. Besides offering the daily newspaper in the e-paper format free, the site also has extensive sections on stocks and company information. The site is constantly updated for the latest news on economy and business. Archives for the print edition are available online since 2000. The site is part of the group portal, www.expressindia.com Annual Surveys The Financial Express also brings out two annual listings. While FE 500 lists top 500 companies of India, FE Best Banks has emerged as the blue ribbon of banking excellence in the country that culminates with an awards night. FE 500- An annual survey, published as a magazine, has established itself as a fair and empirically evaluated performance rating for India Inc. It is one of the most awaited corporate listing as it takes into account results of 3 quarters which gives a deeper insight into India Incs performance. FE Best Banks- The Financial Express releases the Best Banks survey annually with Ernst & Young as the knowledge partner. Released as a glossy magazine every year in March, the survey lists banks that have delivered exemplary performance on various parameters including growth, profitability, strength & soundness amongst others. 35
  • 40. Comparative Analysis of various Business Dailies with special reference to Business Standard Events FE Best Banks Awards launched in February 1997, annually fetes banks that have delivered exemplary performance on various parameters including growth, profitability, strength & soundness amongst others. The awards are based on the FE Best Bank Survey and have emerged as the highest award of banking excellence in the country. The event is held annually in Mumbai, with the Honbl Finance Minister as the Chief Guest and witnesses a high profile gathering including various ministers, govt. representatives, CEOs and the Whos Who of India Inc. FE EVI Green Business Awards- Based on the FE EVI Green Business Survey the awards recognize the efforts of Indian businesses towards climate change and sustainability. The awards are held on the occasion of Worlds Environment Day i.e. 5 June every year. The Financial Express has also initiated a series of Round Table Conferences (RTC) that bring together policymakers and major players to discuss key issues pertaining to different sectors. Editor As Indias oldest financial newspaper The Financial Express has had a string of eminent Editors such as R Jagannathan, Dr. Sanjaya Baru, Mythili Bhusnurmath, Sandipan Deb etc. Presently M.K. Venu is the Managing Editor of the business daily. The Indian Express Group The Financial Express is part of The Indian Express Group, which also owns English daily The Indian Express, Marathi daily Loksatta, Hindi Daily Jansatta, entertainment weekly Screen, and weekly Marathi magazine Lokprabha. 36
  • 41. Comparative Analysis of various Business Dailies with special reference to Business Standard 3.11.5 Financial Chronicle Financial Chronicle (FC) is published since 2008. The newspaper primarily covers Indian economic and international business topics, and financial news and issues. Edition Financial Chronicle, edited by Shubhrangshu Roy, was simultaneously launched from Hyderabad and Chennai on April 16, 2008. The Bangalore edition was launched on May 25, and the Mumbai edition on June 20. With the launch of the New Delhi edition on April 14, 2009, Financial Chronicle completed its launch objective of five-city simultaneous publication within the first year itself. Financial Chronicle has had the shortest run-up to a newspaper launch in the history of Indian print journalism. It also has the record of reaching the maximum number of publication centres in the shortest span of time. Financial Chronicle boasts Indias youngest team of media professionals. Financial Chronicles e-paper was launched midnight of 15–16 April 2008. This makes FC the first paper to be launched electronically on the internet before its print launch. FC began its journey five days-a-week, Monday through Friday. It launched a Weekend tabloid edition beginning 1o September, 2011. 37
  • 42. Comparative Analysis of various Business Dailies with special reference to Business Standard Financial Chronicle also publishes four weekly all-colour feature sections – Invest, a comprehensive analysis on the stock market; Know, a cutting edge one-of-a-kind section on the advancements in knowledge society; Build, a review of the countrys real estate sector; and Roar!, a no-holds-barred lifestyle feature. Financial Chronicle can be accessed on its website, which features comprehensive webcasts of corporate developments and news stories. The website also runs a live investor guidance service, and comprehensive updates on the stock markets. It also incorporates several networking facilities. Format Financial Chronicle is a business broadsheet printed in white newsprint in 24 pages format on Mondays, Tuesdays, Thursdays and Fridays and 20 pages format on Wednesdays. Management The paper is owned by Deccan Chronicle Holdings Limited (listed on Bombay Stock Exchange and the National Stock Exchange). Its flagship publication is Deccan Chronicle - an English daily widely circulated in the state of Andhra Pradesh and the second largest English daily in Chennai. Deccan Chronicle is also published from Bangalore. The Editorial advisory board includes legendary agricultural scientist Dr M S Swaminathan, former telecom regulator Mr Nripendra Mishra, MindTree Consulting founder Mr Subroto Bagchi, Lok Sabha MP Mr Sachin Pilot and DCHL managing director Mr P K Iyer. Mr T Venkattram Reddy is Chairman of the company. FC was the first Indian business daily to have appointed an Ombudsman. Former Sebi chairman Mr M Damodaran was appointed as the first Ombudsman of the paper. Mr Shubhrangshu Roy is Chief Operating Officer and Editor-in-chief of Financial Chronicle. Dr. Varun Dutt, Carnegie Mellon University, is the Knowledge Editor of Financial Chronicle with more than 100 articles on public policy, technology, environmental issues, and business, in the newspaper. 38
  • 43. Comparative Analysis of various Business Dailies with special reference to Business Standard 4. RESEARCH METHODOLOGY A Research Methodology defines the purpose of the research, how it proceeds, how to measure progress and what constitute success with respect to the objectives determined for carrying out the research study. Research methodology is a way to systematically solve the research problem. It may be understood as a science of studying how research is done scientifically. In it we study the various steps that are generally adopted by a researcher in studying his research problem along with the logic behind them. It is necessary for the researcher to know not only the research methods/techniques but also the methodology. Researchers not only need to know how to develop certain indices or tests, how to calculate the mean, the mode, the median or the standard deviation or chi-square, how to apply particular research techniques, but they also need to know which of these methods these methods or techniques, are relevant and which are not, and what would they mean and indicate and why. Steps in Market Research: 1. Planning and Research. a) Defining the problem b) Sampling the plan. c) Preparing questionnaire. d) Deciding the area of research 2. Field Work. a) Asking question to sample selected. b) Data collection. 3. Planning Report. a) Analyzing the data collected. b) Report preparation. 39
  • 44. Comparative Analysis of various Business Dailies with special reference to Business Standard 4.1 Research Design Research design is an arrangement of conditions for collection of and analysis of data in a manner that aims to combine relevance to research purpose with economy of procedure. 1 • Formulation of objectives of the study. 2 • Designing methods for the data collection 3 • Select the sample size 4 • Collecting the data 5 • Processing and analysis of data 6 • Reporting the finding Research designs are of the following types:  Descriptive  Diagnostic  Causal  Experimental  Exploratory In this project, descriptive type of research design has been used. 4.2 Research Objectives The research objectives for the project involve identifying the target market for business dailies in India; estimating the newspaper brand preference among the target customers; identifying the critical success factors for business dailies in India and finally suggesting a strategy for Business Standard to increase its 40
  • 45. Comparative Analysis of various Business Dailies with special reference to Business Standard share in the Indian newspaper market by rating Business Standard on the identified critical success factors. 4.3 Research Approach Qualitative as well as Quantitative approach has been used for this research. But the stress was basically on the quantitative approach. Quantitative approach Quantitative data involves the generation of data in a quantitative form which can be subjected to analysis in a formal and rigid fashion. Qualitative approach It is concerned with subjective assessment of opinions and behavior. 4.4 Sources of Data The research has been carried out using a combination of primary and secondary data. Secondary Data When first considering how to answer their research questions or meet their objectives few researchers consider initially the possibility of reanalyzing data that have already been collected for some other purpose. Such data are known as secondary data. Secondary data include both quantitative and qualitative data, and they are used principally in both descriptive and explanatory research. Secondary data has been collected through Articles, Reports, Journals, Magazines, Newspapers and Internet Primary Data Information which is generated the first time and is fresh is called “primary data” and it is generated by four main methods viz. observation, experimentation, interviewing and estimation. The primary data can be collected through telephone, interviews, group interviews, mail surveys and self administered questionnaire. 41
  • 46. Comparative Analysis of various Business Dailies with special reference to Business Standard What is the need for collecting the Primary data after collecting the secondary data? If, after seeking all reasonable secondary data sources, research questions are still not adequately answered, the researcher may question the target respondents to get appropriate information.  Primary Data Source – Questionnaire, Observations and formal interaction with customers.  Secondary Data Source – From magazines and websites. 4.5 Sampling Method Sample Unit The sample unit is management student & professors, corporate professionals, chartered accountants, investors (stock brokers), businessmen and retired professionals. B-School Students and Professors – 30 CA – 5 Investor (Stock Broker) – 13 Other salaried professionals – 30 Businessmen – 19 Retired - 3 Sample Size The sample size for the survey is 100. The sample was stratified according to the above mentioned sampling unit. Sample Area Various regions within Delhi, NCR. Sampling Technique The process employed to select the sample was simple random sampling. Simple random sampling refers to that sampling technique in which each and every unit 42
  • 47. Comparative Analysis of various Business Dailies with special reference to Business Standard of the population has an equal and same opportunity of being on the sample. In simple random sampling, which item gets selected is just a matter of chance. 4.6 Limitations  The study was completed in 45 days which is not sufficient time to do an exhaustive survey.  As the market being very huge it was not possible to cover each and every area.  The sample size chosen is limited to 100 respondents; the study may not be applicable to the entire market.  There is a possibility of biased answers from the respondents; hence the information collected might not be accurate. 43
  • 48. Comparative Analysis of various Business Dailies with special reference to Business Standard 5. DATA ANALYSIS AND INTERPRETATION 5.1 Descriptive Statistics 5.1.1 Gender Q. What is your gender? 39 Male 61 Female Out of the 100 respondents, 61 were male and 39 were female. 44
  • 49. Comparative Analysis of various Business Dailies with special reference to Business Standard 5.1.2 Age groups Q. What is your age group? Age groups 57 60 50 40 30 22 Age groups 20 11 7 10 3 0 20-30 31-40 41-50 51-60 61 & above Age No. of Group Respondents 20-30 57 31-40 22 41-50 11 51-60 7 61 & 3 above The respondents chosen for the survey were mostly young, 57 falling in the age group 20-30. 45
  • 50. Comparative Analysis of various Business Dailies with special reference to Business Standard 5.1.3 Occupation Q. What is your current occupation? B-School Student of 3 Professor 19 CA 30 Investor / Stock Broker Other salaried professional 5 Businessman 30 13 Retired Occupation No. of Respondents B-School Student of 30 Professor CA 5 Investor / Stock Broker 13 Other salaried 30 professional Businessman 19 Retired 3 46
  • 51. Comparative Analysis of various Business Dailies with special reference to Business Standard 5.1.4 Have you ever read Business Standard? 44 Yes No 56 5.2 Business Daily Mind Share Q. When we talk about business newspapers, which one comes to your mind first? Mind Share 70 61 60 50 40 30 17 20 12 7 10 3 0 Economic Business Mint The The Hindu Times Standard Financial Business Express Line 47
  • 52. Comparative Analysis of various Business Dailies with special reference to Business Standard Business Daily No. of respondents Economic Times 61 Business Standard 17 Mint 12 The Financial Express 7 The Hindu Business Line 3 We can clearly make out that Economic Times has the highest mind share among the respondents. Business Standard comes at no. 2 followed by Mint. The margin between ET and Business Standard’s mind share is quite large i.e. 44 respondents. Interpretation: This data shows that Business Standard needs to create more brand awareness through promotional offers and events. They can also have advertisements placed on websites and blogs related to business, finance, economy etc. Creating more brand awareness through promotion, innovation, schemes and events would lead to increase in customer base and proper customer service would increase customer loyalty. This is a long term process which would lead to increase in mind share among the target customers. 5.3 Readership Q. Which business newspaper(s) do you read? Readership 70 60 60 50 40 35 29 30 20 12 10 7 2 0 Economic Mint Business The Financial The Hindu Others Times Standard Express Business Line 48
  • 53. Comparative Analysis of various Business Dailies with special reference to Business Standard Business Daily No. of Readers Economic Times 60 Mint 35 Business Standard 29 The Financial Express 12 The Hindu Business 7 Line Others 2 *One respondent may read more than 1 newspaper so the total no. of readers might be greater than 100 (the total no. of respondents) In terms of readership, among the sample, ET has the highest no. of readers which is 60 followed by Mint which has 35 readers. Business Standard comes at no. 3 with 29 readers. Interpretation: ET has a huge share of readership owing to the already well established base of TOI (Bennett, Coleman & Co. Ltd.) in India while Mint is a newspaper from HT Media’s stable. This well established distribution network and popularity is where newspapers like Business Standard lack out. But still BS is at third position and by following a proper marketing strategy they can target overcoming Mint’s market share in the shorter run and ET’s market share in the longer run. 49
  • 54. Comparative Analysis of various Business Dailies with special reference to Business Standard 5.4 Online/Offline preference Q. Which form of the newspaper do you prefer? 24 Paper form 76 Electronic/online form Online/Offline No. of Respondents Paper form 76 Electronic/online 24 form Out of the 100 respondents, 76 prefer the traditional paper form of the newspaper while 24 prefer the online form. Interpretation: Though the no. of online readers appears to be much less in comparison to the traditional paper-form readers, it must be noted that this result has come from the survey of just 100 respondents. If we take 24% of the total no. of business daily readers in India, then that would be a large number. Though the market of people who read the paper form or will read the paper form in the future is quite large in India, the no. of people reading dailies on the internet is bound to increase with growing household incomes and increasing adaptation to the mobile platform. Thus, it is imperative to maintain and enhance online presence to cater to readers who prefer the online form. 50
  • 55. Comparative Analysis of various Business Dailies with special reference to Business Standard 5.5 The Relationship between age and preferred newspaper brand Economic Mint Business The The Others Times Standard Financial Hindu Express Business Line 20-30 40 24 12 3 0 - 31-40 11 7 5 4 2 - 41-50 4 4 4 3 2 - 51-60 3 0 6 2 1 - 61 & 2 0 2 0 2 - above Total 60 35 29 12 7 2 From the above table, we find that out of the 57 readers belonging to the age group 20-30, ET has 40 readers and Mint has 24 readers whereas BS has 12 readers. No. of readers in the age group 20-30 40 40 35 30 24 25 20 12 15 10 3 5 0 0 Economic Mint Business The The Hindu Times Standard Financial Business Express Line 51
  • 56. Comparative Analysis of various Business Dailies with special reference to Business Standard No. of readers in the age group 41 and above 12 12 9 10 8 5 5 6 4 4 2 0 Economic Mint Business The The Hindu Times Standard Financial Business Express Line Interpretation: We find that ET has a good no. of readers in every age group owing to its strong establishment. For my particular sample, Mint has readers concentrated within the range 20-40 and there are no readers in the range 51- 60 and 61 & above. But BS does have readers in the higher age groups and looks to be at par with ET. This shows that Mint has been successful in targeting the young population while BS is the more preferred choice for the senior citizens. India’s demographics are such that majority of the population is young. Thus, Business Standard must study the strategy followed by Mint and adapt their own strategy by making necessary changes so as to gain popularity among the young readers. 52
  • 57. Comparative Analysis of various Business Dailies with special reference to Business Standard 5.6 The Relationship between time since reading newspaper and preferred newspaper brand Q. For how long have you been reading the selected newspaper? Time since reading selected newspaper 8 19 Upto 3 months 69 3-6 months Upto 1 year More than 1 year 49 In the following chart, we have divided each duration newspaper wise: 35 30 29 25 ET 20 Mint 18 BS 15 15 15 FE 11 HBL 10 10 9 9 Others 6 5 5 4 3 3 2 2 2 1 1 0 0 0 0 0 0 0 Upto 3 months 3-6 months Upto 1 year More than 1 year 53
  • 58. Comparative Analysis of various Business Dailies with special reference to Business Standard ET Mint BS FE HBL Others Upto 3 4 3 1 0 0 0 months 3-6 months 9 6 3 1 0 0 Upto 1 year 18 15 10 2 2 2 More than 1 29 11 15 9 5 0 year Interpretation: From the above graph, we find that for newspapers Economic Times, Business Standard, The Financial Express and The Hindu Business Line, the readership increases as we increase the time span under consideration. But for Mint, we notice that the no. of readers who started reading within the past 1 year is more than the no. of readers who started reading more than 1 year ago. This might be an indication of the growing popularity of HT’s Mint among business newspaper readers. 5.7 What readers read Q. Which section of a business daily do you like the most? What readers read 25 23 22 20 16 15 13 10 10 9 5 5 2 0 54
  • 59. Comparative Analysis of various Business Dailies with special reference to Business Standard Section No. of Respondents International 9 Business Stock Market 23 Realty 6 Personal 18 Finance Politics 2 Commodities 5 Editorial 10 Corporate 14 Economy 23 Interpretation: From the above data, we find that most of the readers in the sample prefer to read news on stock market, personal finance and economy. As Business Standard has a separate section on stock market and personal finance, it is at an advantage here. There is also a fair no. of reader for International Business, personal finance, editorial and corporate news. 5.8 Most Liked Section in BS Daily Q. Which section(s) of Business Standard do you like the most? Sections of BS liked by readers 35 31 29 28 30 27 24 25 20 18 14 15 15 11 8 8 9 10 7 5 0 55
  • 60. Comparative Analysis of various Business Dailies with special reference to Business Standard Section No. of Readers Companies 8 Economy 29 Finance 27 Take Two 7 Issues and Insights 11 Opinion 14 Brand World 8 World 15 Smart Investor 31 Personal Finance 18 Commodities 9 Stocks 28 BS200 24 *These are responses from the 56 readers who read/have read BS. *One respondent may mention more than one section. Interpretation: From the above data, we find that Business Standard’s separate section, Smart Investor is very popular among its readers. Also, readers like the content on finance and economy. This shows that Business Standard has been able to build an image of high reliability among its readers. Stock market investors and brokers refer to Business Standard for investment advice and also, individuals refer to BS for managing their personal finances. The section on economy and finance is popular among b-school students & professors and working professionals. The following table shows the occupation and newspaper preference of readers who are interested in news on Stock Market, Finance and Personal Finance OCCUPATION NEWSPAPER(S) READ READER IS INTERESTED IN... B-school student or Economic Times Stock Market / professor Finance B-school student or Mint, Economic Times Personal Finance professor B-school student or Economic Times Stock Market / professor Finance B-school student or Economic Times Stock Market / 56
  • 61. Comparative Analysis of various Business Dailies with special reference to Business Standard professor Finance B-school student or The Financial Express Personal Finance professor Businessman The Financial Express Stock Market / Finance Businessman Business Standard Stock Market / Finance Businessman Economic Times, Business Standard Personal Finance CA Business Standard Personal Finance CA The Hindu Business Line Stock Market / Finance CA Business Standard, Mint Stock Market / Finance CA Economic Times Stock Market / Finance Investor / Stock Broker Economic Times, Business Standard Stock Market / Finance Investor / Stock Broker Mint, Economic Times Stock Market / Finance Investor / Stock Broker Economic Times, The Financial Express Commodities Investor / Stock Broker The Financial Express Commodities Investor / Stock Broker The Financial Express, Mint Stock Market / Finance Investor / Stock Broker Economic Times, Business Standard Commodities Investor / Stock Broker Economic Times Stock Market / Finance Investor / Stock Broker Economic Times, Mint Commodities Investor / Stock Broker Business Standard Stock Market / Finance Investor / Stock Broker Mint, Business Standard Commodities Investor / Stock Broker Economic Times Stock Market / Finance Investor / Stock Broker The Financial Express, Economic Times Stock Market / Finance Investor / Stock Broker The Hindu Business Line, Economic Times Stock Market / Finance Other salaried Economic Times, Business Standard, Mint Stock Market / professional Finance Other salaried The Financial Express Personal Finance professional Other salaried Economic Times Stock Market / professional Finance Other salaried Economic Times, Business Standard Stock Market / professional Finance Other salaried Business Standard Personal Finance professional Other salaried Economic Times, The Financial Express Stock Market / professional Finance 57
  • 62. Comparative Analysis of various Business Dailies with special reference to Business Standard Other salaried Mint Personal Finance professional Other salaried The Hindu Business Line, Business Standard Stock Market / professional Finance Other salaried Financial Chronicle, Economic Times Personal Finance professional Retired Economic Times, Business Standard Stock Market / Finance Retired Economic Times, Business Standard, The Hindu Stock Market / Business Line Finance From the above table, we find that out of 3 such readers, 22 read ET and 14 read Business Standard for news related to these topics. Thus, according to my survey data, one of Business Standard’s core strengths is its news on the stock market and personal finance which is provided through a special dedicated section, the Smart Investor. We can also notice that out of the 5 Chartered Accountants who were part of the survey, 4 read Business Standard and out of the 19 Stock market investors/brokers, 13 read Business Standard. This shows the reputation that Business Standard has established in the domain of stock market and personal finance news. No. of readers interested in Stock Market, Finance and Personal Finance - Newspaper wise 25 22 20 14 15 8 8 10 4 5 1 0 ET BS Mint FE HBL Others 58
  • 63. Comparative Analysis of various Business Dailies with special reference to Business Standard 5.9 Where BS scores high Q. Which aspects of BS do you like the most? Where BS scores high Supplements Brand Visibility Service News Coverage Writing Style Layout and Design Editorial Quality Reliability Quality of content/analysis Price 0 5 10 15 20 25 30 Parameter No. of Respondents Price 4 Quality of content/analysis 26 Reliability 24 Editorial Quality 21 Layout and Design 10 Writing Style 8 News Coverage 14 Service 3 Brand Visibility 2 Supplements 17 *These are responses from the 56 readers who read/have read BS. *One respondent may mention more than one parameter. Interpretation: From the above data, we find that Business Standard’s quality of content & analysis, editorial quality and its reliability are its major strengths. News coverage has also been rated by the readers as fairly sufficient. It is 59
  • 64. Comparative Analysis of various Business Dailies with special reference to Business Standard imperative for BS to maintain this quality to retain existing customers and attract new ones. This high quality is also the reason why most of the serious business news readers prefer to read Business Standard before taking important decisions related to their investments or their organizations’ functioning. We also find that Business Standard’s supplements are appreciated by many readers. This is because BS offers supplements on a wide variety of subjects and supplements form an important reading material for reader specific topics. 5.10 Where BS needs improvement Q. Where do you think BS needs improvement? Where BS needs improvement Supplements Brand Visibility Service News Coverage Writing Style Layout and Design Editorial Quality Reliability Quality of content/analysis Price 0 5 10 15 20 25 30 Parameter No. of Respondents Price 19 Quality of content/analysis 3 Reliability 2 Editorial Quality 4 Layout and Design 19 Writing Style 12 News Coverage 6 Service 20 Brand Visibility 25 Supplements 2 60
  • 65. Comparative Analysis of various Business Dailies with special reference to Business Standard *These are responses from the 56 readers who read/have read BS. *One respondent may mention more than one parameter. Interpretation: From the above data, we find that most of the readers i.e. 25 readers believe that BS needs to have more brand visibility. This can be done by undertaking more promotional activities, better promotional offers and buying ad space online. 20 readers said they had service issues like delays in newspaper delivery, late starting of subscription period after fee payment etc. 19 readers said that Business Standard’s price is more than that of Economic Times. ET has the advantage of TOI’s vast readership as readers can subscribe to ET through a combo offer with TOI at a reasonable price. 19 readers said BS may try modifying their layout and design as BS has retained the traditional form whereas companies like HT (Mint) and Indian Express (The Financial Express) have adopted new formats for their business newspapers which go well with the younger generation of business newspaper readers. The writing style of BS received a mixed response with 12 readers, primarily from the younger age groups suggesting that BS should try and make their writing style a bit interesting while retaining their reliability and integrity. 5.11 Where ET scores high Where ET scores high Supplements Brand Visibility Service News Coverage Writing Style Layout and Design Editorial Quality Reliability Quality of content/analysis Price 0 10 20 30 40 50 60 61
  • 66. Comparative Analysis of various Business Dailies with special reference to Business Standard Parameter No. of Respondents Price 47 Quality of 45 content/analysis Reliability 26 Editorial Quality 32 Layout and Design 19 Writing Style 36 News Coverage 43 Service 20 Brand Visibility 48 Supplements 21 *These are responses from the 88 readers who read/have read ET. *One respondent may mention more than one parameter. Interpretation: From the above data, we find that ET has a very high brand visibility which is important for building mind share. One of the reasons for such high brand awareness is the monopoly that ET has in the business daily market. As most no. of readers read ET, it is visible more than any other business daily. Also, we find that the quality of content and analysis has been appreciated by 45 readers but the reliability and editorial quality have been rated quite low. During my survey, I was told by a no. of readers that ET’s content is fine but its quality of analysis is not as good as it used to be. News coverage and writing style have also been rated high. Many readers pointed out that ET has articles written in a manner which brings about interest in the readers’ mind. On the other hand, there are readers who dislike this shift from the usual manner in which articles are written in business dailies. Readers said they are satisfied with ET’s price on weekdays but some readers criticized ET for its heavy price on weekends. That is probably the reason why ET has got a mixed response on the price parameter. 62
  • 67. Comparative Analysis of various Business Dailies with special reference to Business Standard 5.12 Where Mint scores high Where Mint scores high Supplements Brand Visibility Service News Coverage Writing Style Layout and Design Editorial Quality Reliability Quality of content/analysis Price 0 5 10 15 20 25 30 35 40 Parameter No. of Respondents Price 15 Quality of 29 content/analysis Reliability 20 Editorial Quality 22 Layout and Design 37 Writing Style 32 News Coverage 14 Service 10 Brand Visibility 23 Supplements 21 *These are responses from the 67 readers who read/have read Mint. *One respondent may mention more than one parameter. Interpretation: From the above data, we find that most of the readers liked Mint for its writing style and layout & design. Mint is the first daily in India which comes in the Berliner format. It is smaller than the broadsheet newspapers and has 20 colored pages. Also, Mint presents business news in a crisp and concise 63
  • 68. Comparative Analysis of various Business Dailies with special reference to Business Standard manner. For serious business news readers like those above 50 or retired, quality of analysis should be top notch. But for the younger generation especially the b-school students and young professionals, the requirement is fulfilled through the compact form of news provided in Mint. Also, it is related to wall street journal, so it has a new look and feel which is more appealing to the youth. Quality of content & analysis has been given a good rating which is a must for any business daily. Editorial quality and reliability have also been rated fairly high. We find that Mint’s brand visibility is also good probably because it’s a product from HT Media and is associated to the WSJ. The price parameter has also been appreciated by a fair no. of readers. All these points make Mint an innovative product, suitable for people on the run, especially young professionals and b-school students. It is also gaining popularity among the higher age grouped, serious business news readers. 5.13 Where The Financial Express scores high Where The Financial Express scores high Supplements Brand Visibility Service News Coverage Writing Style Layout and Design Editorial Quality Reliability Quality of content/analysis Price 0 2 4 6 8 10 12 14 64
  • 69. Comparative Analysis of various Business Dailies with special reference to Business Standard Parameter No. of Respondents Price 2 Quality of content/analysis 13 Reliability 13 Editorial Quality 11 Layout and Design 10 Writing Style 7 News Coverage 11 Service 4 Brand Visibility 2 Supplements 3 *These are responses from the 25 readers who read/have read The Financial Express. *One respondent may mention more than one parameter. Interpretation: From the above data, we find that The Financial Express has good quality of content & analysis and high reliability. Its editorial quality and news coverage are also fine. Readers appreciated the content on finance and banking in The Financial Express, though some readers were dissatisfied with the content provided on weekends. Its layout and design have been fairly rated by the readers. The Financial Express’ appearance bares resemblance to the WSJ. A fair no. of readers appreciated The Financial Express for its writing style saying that it’s interesting and at the same time, doesn’t go overboard. But we also find that The Financial Express’ brand visibility is poor and not many people are satisfied with its price. 65
  • 70. Comparative Analysis of various Business Dailies with special reference to Business Standard 5.14 Where The Hindu Business Line scores high Where Business Line scores high Supplements Brand Visibility Service News Coverage Writing Style Layout and Design Editorial Quality Reliability Quality of content/analysis Price 0 2 4 6 8 10 12 14 16 Parameter No. of Respondents Price 1 Quality of content/analysis 14 Reliability 12 Editorial Quality 14 Layout and Design 2 Writing Style 3 News Coverage 8 Service 4 Brand Visibility 2 Supplements 1 *These are responses from the 21 readers who read/have read Business Line. *One respondent may mention more than one parameter. Interpretation: From the above data, we find that most of the readers of Business Line are satisfied with quality of content/analysis, reliability and editorial quality. Readers appreciated the content, especially on economy but some readers criticized the content on weekends. But the writing style and layout & design have got low ratings. Business Line has no element of 66
  • 71. Comparative Analysis of various Business Dailies with special reference to Business Standard sensationalism in its delivery. While this is appreciated by serious news readers, it might not go well with people primarily from the younger age groups. Business Line’s brand visibility has been rated fairly well, probably because of its parent brand, The Hindu. Most readers were not satisfied with price being Rs.5 per day for the whole week. Also, Business Line’s supplements have got a poor rating. 5.15 SWOT Analysis SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective.  Strengths: characteristics of the business, or project team that give it an advantage over others  Weaknesses: are characteristics that place the team at a disadvantage relative to others  Opportunities: external chances to improve performance (e.g. make greater profits) in the environment  Threats: external elements in the environment that could cause trouble for the business or project STRENGTHS  Top notch editorial quality – the content is compiled by highly reputed economic journalists and internationally acclaimed columnists  Reach – Published from 12 regional centres across the country  Rated the best in terms of quality of content and in-depth analysis by most of the readers  High Reliability of news  Wide variety and coverage of news  The Smart Investor – special section for news on the stock market, finance and investment advice 67
  • 72. Comparative Analysis of various Business Dailies with special reference to Business Standard  Wide collection of periodicals – weekly, monthly and annual supplements including magazines dedicated to management – Indian Management and Asian Management Review WEAKNESSES  Lower brand awareness and mind share among target customers  Strictly traditional format which might be less appealing to the youth  No dedicated supplement on Realty  Customer Service issues like delayed delivery of newspaper in some cases  Sunday Edition published only from 4 centres  No parent brand unlike the case of ET (Bennett, Coleman & Co. Ltd.) and HT Mint (HT Media Ltd.)  Financial constraints  Distribution network issues OPPORTUNITIES  Expanding online presence - The Business Standard website receives 1.5 million unique users per month, the highest for any "stand alone" newspaper website in India. In January 2010, BSL launched smartinvestor.in, an information-cum-trading website for those interested in the stock market.  ET’s editorial quality was criticized by some readers. This provides an opportunity to Business Standard provided it continues to maintain the high standard of its editorial quality.  Sponsoring of events in B-schools, trade shows  Local news coverage, zonal supplements and reader specific supplements  Insurance, investors, brokers, IT companies 68
  • 73. Comparative Analysis of various Business Dailies with special reference to Business Standard THREATS  Competitors – Strong establishment of Economic Times, backed by the Times Group and growing popularity of HT’s Mint, especially among the new generation of business news enthusiasts. Close competitors like The Financial Express and The Hindu Business Line are also a threat  Presence of other media like television, radio, internet 69
  • 74. Comparative Analysis of various Business Dailies with special reference to Business Standard 6. FINDINGS  The survey data shows that Business Standard is one of the best in terms of quality of content, analysis, insights, editorial quality and supplements.  Business Standard’s supplements are one of its main strengths as they cover a wide range of subjects. But there is still scope for improvement.  Most of the chartered accountants and stock market investors/brokers consult Business Standard for its news on the stock market and personal finance which it provides through its special section – the Smart Investor.  Business Standard is more popular among the higher age group of readers. But its popularity among the youth is also increasing.  Business standard is lagging behind in terms of brand awareness and service quality in some areas.  Majority of the respondents read ET. Economic Times has the benefit of Times of India’s vast distribution channel because of which it is able to save more distribution expenses.  It was pointed out by some ET readers that ET’s editorial quality has gone down. Errors can be found in some articles. Also, the ad content is more than it should ideally be.  Apart from Economic Times, a large no. of young respondents prefer to read Mint because of its unique format (Berliner format) combined with high quality of analysis in a compact form.  Readers of The Financial Express read it for its quality of content, analysis, different layout and writing style. But The Financial Express has low brand visibility. 70
  • 75. Comparative Analysis of various Business Dailies with special reference to Business Standard  Readers of Business Line read it for the reliability of its news and editorial quality. Their staff consists of reporters and researchers. It is the only paper having a research bureau. But there is criticism against its price and supplements.  It was found that for a customer to change to another business newspaper, he should get a strong value proposition. The newspaper should have some unique quality to offer to its readers. A similar product would not be sufficient. 71
  • 76. Comparative Analysis of various Business Dailies with special reference to Business Standard 7. SUGGESTIONS After completing the study I have some humble suggestions for the company which may help in future:  Newspaper Format/Appearance: Business Standard has probably the best quality of content and analysis which is a must for building customer loyalty among serious business news readers. But the newspaper’s appearance is strictly traditional. The rising popularity of HT’s Mint can be credited in part to its unique format which provides news in a compact form and with a different writing style. So, Business Standard could try restructuring its format so as to appear different from other newspapers and attract younger readers.  Redesigning of Supplements: Supplements in Indian newspapers are fast moving towards assuming a tabloid format in terms of shape and design citing portability as the biggest factor. People tend to carry around their papers as they rush out for work on mornings. A broadsheet is not exactly what one can open up without elbowing out the passenger in the seat beside. The Mint is probably the first Indian newspaper to adopt the Berliner format as a standard look for the main paper as well as the supplement, combined with great editorial content. Newspaper supplements or newspapers on the whole are becoming more “magazine- ified.”  Zonal Supplements: Business Standard could launch zonal level supplements to absorb zonal level ad content and attract more customers. The zone specific supplements would offer more response to relevant ads at a lower price over national papers.  Reader Specific Supplements: Amongst so many choices of newspapers and supplements, readers would prefer the newspaper brand which provides them with content-rich, reader specific supplements. E.g. supplements on IT, Realty etc. 72
  • 77. Comparative Analysis of various Business Dailies with special reference to Business Standard  More Brand Awareness: Business Standard Ltd. should focus on improving their marketing strategy to create more brand awareness. There should be more emphasis on advertising and promotional programs like business quizzes, B-School Promotion etc. at management institutions located in the city.  Writing Style: Business news by its very nature is dry and serious most of the times. But this is where ET and Mint have taken advantage by making news interesting to read. So, BSL might try modifying their writing style to attract more readers from the younger age groups.  Customer Retention: The company should focus on retention of customers because getting a new customer is more costly. Feedback should be taken from existing customers on an ongoing basis and the changes suggested should be incorporated.  More Advertising: BSL should intensify its advertising and promotional campaigns to spread more brand awareness among the target customers as it is relatively newer to the market and doesn’t have a strong background unlike ET and Mint.  Sunday Edition: Business Standard should start its Sunday edition with some better strategies than its competitors who is charging more on the Sunday edition.  Quality of Service: The company should improve quality of service. They can start a customer care department to deal with the service issues faced by the readers.  Quality Control Equipments should be in place to ensure highest quality of printing and in order to stand up to the international players which might consider entering the Indian market.  Distribution: Business Standard uses Eenadu’s distribution channel for distributing news paper to its customers but still there are cases where subscribers either do not receive their copy or start receiving their copy 73
  • 78. Comparative Analysis of various Business Dailies with special reference to Business Standard late after completing the subscription process. So, they should concentrate on the optimization of the distribution channel of the newspaper so that the newspaper reaches the customer door-step early. They can increase the number of centers from where the news paper is available and improve the distribution system. The Sunday edition should be printed at more centers to meet the requirements of readers who want to have a Sunday edition.  Corporate Tie-ups: As most of the readers of Business Dailies are in corporate Business Standard can go for corporate tie-ups with public and private sector units.  Co-branded Content: Business Standard can have tie-ups with its competitors and international news agencies. More co-branded news content would increase the reliability and market value of the BS brand. E.g. The Financial Express has an exclusive tie-up with The Financial Times and The Economist of London to carry its articles all days of the week on an exclusive co-branded page and the op-ed page.  Promotional Offers & Schemes: The promotion offers and schemes that are introduced by Business Standard are not enough to motivate the agents to sell the newspaper. Attractive schemes should be launched to attract new customers. E.g.: Formation of Business Standard club for brand loyalty, subscription schemes for 3 & 6 month durations and cheaper combo schemes like both Hindi and English editions at a reasonable subscription price.  Relationship with Vendors: The management can design a Vendor Relationship Management Program and should come up with some motivational offers and scheme for the vendors, so that they feel motivated to push Business Standard from their side and help in increasing the sale. 74
  • 79. Comparative Analysis of various Business Dailies with special reference to Business Standard 8. LIMITATIONS  Limitation of time – the project was done over a period of around 45 days  Limitation of sample size – only 100 respondents  Geographical constraints – only certain regions within Delhi, NCR were covered  Lack of co-operation from some respondents  While filing the questionnaire the readers may not have provided 100% accurate information because of their personal biases 75
  • 80. Comparative Analysis of various Business Dailies with special reference to Business Standard 9. CONCLUSION After analysing the market and conducting the survey, I came to know that Business Standard is a highly reputed reliable business newspaper which has the potential to become the leader in terms of market share. It is the choice of serious business news readers who admire it for its high quality of content and in-depth analysis. It is also growing in popularity among the youth. Most of the readers rated Business Standard the best in terms of parameters like quality of content & analysis, reliability, supplements and editorial quality. But still, changing a customer’s choice is a difficult job. Also, BS doesn’t have an already established sister brand, unlike the case of ET (TOI) and Mint (HT), which have the advantage of a well built brand awareness. HT’s Mint is the only newspaper in India which has adopted the Berliner format. It provides its readers with in-depth analysis in an easy to read form. This is why it is becoming increasingly popular among the young readers. Quality of service is indispensible for retaining existing customers and attracting new ones. Here, Business Standard is found to be lacking behind its competitors. The newspaper is asking people to invest most precious commodity – their time. Therefore they have to create an image that there is something important inside the newspaper. Business Standard has built such an image through its unshakeable quality but what is needed is to continuously listen to the customers’ grievances and work towards building a better product. 76
  • 81. Comparative Analysis of various Business Dailies with special reference to Business Standard 10. REFERENCES  http:// www.business-standard.com/  http://www.livemint.com/  http://www.financialexpress.com/  http://www.thehindubusinessline.com/  http://articles.economictimes.indiatimes.com/2011-10- 03/news/30238484_1_media-planners-advertisers-newspaper  http://www.bestmediainfo.com/2011/10/irs-q2-2011-top-business- dailies/  http://articles.economictimes.indiatimes.com/2011-12- 23/news/30551126_1_business-dailies-lakh-readers-young-readers  supplements-of-indian-newspapers.wikispaces.com  http://www.allaboutnewspapers.com/april07/story1.htm  http://www.economywatch.com/world-industries/printing/  http://www.economywatch.com/world-industries/printing/trends.html  http://forbesindia.com/blog/business-strategy/how-toi-woke-up-the- hindu/ 77
  • 82. Comparative Analysis of various Business Dailies with special reference to Business Standard ANNEXURE QUESTIONNAIRE Comparative analysis of financial dailies in Delhi Name? * Gender? * Male Female Age group? * 20-30 31-40 41-50 51-60 61 and above Your occupation? * B-school student or professor CA Investor / Stock Broker Other salaried professional Businessman Retired 78
  • 83. Comparative Analysis of various Business Dailies with special reference to Business Standard When we talk about business newspapers, which one comes to your mind first? * Economic Times Business Standard Mint The Financial Express Financial Chronicle The Hindu BusinessLine Other Which business newspaper(s) do you read? * Economic Times Business Standard Mint The Financial Express Financial Chronicle The Hindu BusinessLine Other Which form of the newspaper do you prefer? * Offline (Paper form) Online (e-paper) For how long have you been reading the selected newspaper? * 79
  • 84. Comparative Analysis of various Business Dailies with special reference to Business Standard Upto 3 months 3-6 months Upto 1 year More than 1 year Which section of a business daily do you like the most? * International Business Stock Market / Finance Realty Personal Finance Politics Commodities Editorial Corporate Economy Page 2 Have you ever read Business Standard? * Yes No Which section(s) of business standard do you like the most? Companies 80
  • 85. Comparative Analysis of various Business Dailies with special reference to Business Standard Economy Finance Take Two Issues and Insights Opinion Brand World World Smart Investor Personal Finance Commodities Stocks BS200 Where do you think Business Standard needs improvement? Quality of content / analysis Layout and Design Brand Visibility Price Service Editorial Quality Writing Style 81
  • 86. Comparative Analysis of various Business Dailies with special reference to Business Standard Reliability News Coverage Supplements Which aspects of Business Standard are the best? Quality of content / analysis Layout and Design Brand Visibility Price Service Editorial Quality Writing Style Reliability News Coverage Supplements Have you ever read Economic Times? Yes No Which aspects of ET are the best? Quality of content / analysis Layout and Design 82
  • 87. Comparative Analysis of various Business Dailies with special reference to Business Standard Brand Visibility Price Service Editorial Quality Writing Style Reliability News Coverage Supplements Have you ever read Mint? Yes No Which aspects of Mint are the best? Quality of content / analysis Layout and Design Brand Visibility Price Service Editorial Quality Writing Style Reliability 83
  • 88. Comparative Analysis of various Business Dailies with special reference to Business Standard Supplements News Coverage Have you ever read The Financial Express? Yes No Which aspects of The Financial Express are the best? Quality of content / analysis Layout and Design Brand Visibility Price Service Editorial Quality Writing Style Reliability Supplements News Coverage Have you ever read The Hindu Business Line? Yes No Which aspects of The Hindu Business Line are the best? 84
  • 89. Comparative Analysis of various Business Dailies with special reference to Business Standard Quality of content / analysis Layout and Design Brand Visibility Price Service Editorial Quality Writing Style Reliability Supplements News Coverage Page 3 PRESS "SUBMIT" Thank you!! 85