Summer Internship Project 2012

Customer Brand perception of various Economic dailies

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By Deepika Iyer - 14 PGDM Marketing 2011-2013

Corporate Guide Mr. Harshal Phadnis & Mr. Mahesh Gorwar Location of Work Central Suburbs Project Duration May2012 June 2012

Industry Profile

James Augustus Hickey is considered as the "father of Indian press" as he started the first Indian newspaper from Kolkata by the name of Bengal gazette in January 1780

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

Organizational Profile
Business Standard started in 1975 by the Anand Bazar group in Kolkata previously Calcutta. The paper was hived off as a separate company in 1996, and then bought by Mumbai-based financial investors Currently Business Standard has publication in 12 different cities in India. Business Standard sells approximately 226,000 copies daily, making it the third largest in the business newspaper segment

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Mr. T. N. Ninan was editor from 1993 to 2009. In January 2010, Mr. T. N. Ninan became chairman and Editorial Director The current editor of Business Standard is Mr. Sanjaya Baru. Approximately 200 people are employed in the editorial team, including well-known Indian journalists viz:
Mr. AK Bhattacharya, Mr. Sunil Jain Mr. Shyamal Majumdar

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The daily has extensive coverage of the financial markets and is patronized by the investors big and small. To cater to needs of the retail investor, special focus is provided in the form of extensive coverage on Personal Finance.

Supplements and Magazines

Supplements

Magazines

Strategist (Monday) Smart investor (Tuesday Friday) Weekend (Saturday)

Motoring Indian Management The Fund Manager, Banking Annual, BS1000 (Annual basis)

Major players in Indian market

Economic Mint Financial Financial

Times Express

Chronicle Business Line

On the Job Training

To increase the Subscription for Newspaper as well as for Magazines To provide the customers with the free gift and coupons for the first month, so that the newspaper gets delivered to them as early as possible To liase with the existing customers (from the database) and obtain feedback about the delivery of the newspaper and also renew their subscription for the following year

Research Methodology
Research Topic
Customer Brand perception of various Economic dailies

Research Objectives
To study different factors that influence the customers to buy an economic daily. To study the brand switching behavior of the customers in the economic daily segment. To analyze strategy opt by the competitors in actual market and its cause and effect relationship with customers.

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Defines The Problem And Research Objectives Developing Research Plan
Primary Data
Observation Method Survey Method

Secondary Data

Magazines Internet Websites

Personal Interview Telephonic Interview Mail Questionnaire

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Sampling units Sampling units of this project are - Financial newspaper readers , cities of Dombivli, Kalyan, Ambarnath, Badlapur and other suburban cities of Mumbai. Sampling technique Non Probability, Convenience sampling Sample size The sampling size of my study is 50 respondents

Data Analysis and Interpretation

1. Do you read financial daily? Yes / No
1 0% 2

100%

2. Which financial daily do you read?

3. How frequently do you read a financial daily?

4. How much time do you spend reading a newspaper?

5. Which language will you prefer of your financial daily?

6. Which factor you will consider before buying financial daily?

7. Which are the important sections of a financial daily that you read?

8. Which are the important attribute you will consider for your financial daily?

9. Are you an Investor?

10. Benefits you derive from the Investing decision from the financial daily

11. Do you purchase financial daily on regular price or under scheme?

12. Are satisfied with the existing financial daily?

13. If you were given option to change to some other financial daily, will you accept it? To which financial daily you will opt for under Annual subscription scheme?

14. If you are already into the Annual subscription scheme, are satisfied with the service from the existing financial daily?

15. Do you have any complaints regarding the service from the existing financial daily?

Interpretation of the data analysis

Business standard has excellent quality and content as compared to any other newspaper Lack of brand awareness and service in some areas Preference towards annual subscription scheme is high More emphasis to Service, Unbiased Information, Content, Language, Detailed Analysis, Stock Market coverage and investment tips

Objective 1: Alternate Hypothesis is accepted and Null Hypothesis is rejected There are different factors which influence the customers to buy an economic daily Objective 2: Alternate Hypothesis is accepted and Null Hypothesis is rejected Objective 3: Alternate Hypothesis is accepted and Null Hypothesis is rejected Different strategies of the competitors has cause and effect relationship with customers

Recommendation
BS may like to consider Sundays edition in its subscription To enhance the quality of distribution channel of the magazines May consider to add new stock market news and information of bonus of different companies Increase the number of centres from where the newspaper is available Management may consider to design a vendor Relationship Management program

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BS can improve a MIS and keep a track of its readers. Increase the font size Provide higher incentives to vendors Increase the brand awareness in the public Have a consistent relationship with the existing customer

Conclusion
Economic Times most preferred newspaper Stock market news is most preferred followed by company news & advertisement in business newspaper Price factor is not major concern for majority of newspaper buyers BS provided me a wonderful opportunity to learn about wide variety of business techniques & to visit various corporates, institutions & enterprises

THANK YOU