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Sterling Instituteof ManagementStudiesPresented By:

Praveen Naidu

Roll No.: C-22

MMS (Marketing)

Batch: 2010-2012

Summer

InternshipProject2011

Develop A Plan ToIncreaseSales OfBusiness Standard InCorporate Sector & ImplementIt


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Internal Guide

Prof. Seema Laddha

Corporate Guide

Mr. Harshal Phadnis &Mr. Jeetendra Yadav

Project Duration

May11 to June11

Location of Work

Mumbai & Suburbs

Presented To

Prof. R.K.Shrivastava

Prof. Arjitha Jain


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Industry Overview

Indian Newspaper primarily segmented across 2 categories:

English Newspapers

Regional/Vernacular Newspapers

English newspaper industry fragmented with players having regionalfocus

Deccan Chronicle in Hyderabad

Hindustan Times in Delhi

Times of India in Mumbai,

Hindu in Chennai,

Telegraph and Statesman in Kolkata,

Deccan Herald in Bangalore,

Gujarat Samachar in Ahmedabad.


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Business Newspapers in India


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Started in 1975 in Kolkata by Ananda Publishers group

Business Standard was hived off as a separate company in1996.

Then it was bought by Mumbai-based financial investors ledby the Kotak Mahindra Bank, after which began a phase ofrapid expansion with the launch of new editions.

At present time Business Standard has publication in 12different cities in India.

Company Profile


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144,000

53,000

Daily Circulation Copies

English

Hindi

Mission

To expand the market share of Business Standard by creating a new

market and by taking bites from competitors market share.

Vision:

To stand at a respectful position in this marathon and also keep upwith the pace of the changing needs of their valued readers.


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Company Profile

Mr. T. N. Ninan was editor from 1993 to2009.

In January 2010, Mr. T.N.Ninan

became chairman and Editorial Directorof BSL.

The current editor of Business Standard is Mr. Sanjaya Baru.

Appr. 200 people are employed in the editorial team,including well-known Indian journalists:

AK Bhattacharya,

Sunil Jain

Shyamal Majumdar


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Facts

97% OF Business Standard readers are graduates andhigher.

Very highly read among policy decision makers in

government, and the bureaucracy.

High visibility among the CEOs and industry chief tans.

Young achievers in the age group of 25-34 are also anemerging set of readers who contribute to 45% of thereader base.


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Departments of business Standard

Editorial

Department

Space

Marketing

Department

Scheduling

Department

Production

Department

Admin.

Department

System

Department


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Product portfolio


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Systematic approach covering all sectors.

Nominal Price

Separate Money & Market Section with 8 pages

Segregation of NEWS in supplements

Overview of whole week is given in Weekend

Provide general awareness in terms of investment

Not creative

Monotonous Approach of headlines

No own publication house

Display of Ads sometimes creates a Fuss

NEWS is sometimes very lengthy


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Can give an extra page on Mumbai based News

Can include Sunday's edition Weekend in subscription

Can also reduce price of Sunday's Edition

Potential Market availability.

Can have tie-ups for renowned brands for ads

Continuous monotonous approach

Low pricing Strategy

Toughest competition from The Economic Times


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Research Topic

Develop A Plan To Increase The Sales Of Business

Standard In Corporate Sectors & Implement The Same

Research Objective To study the target market of Business standard.

To identify the segment of Business Standard.

To study the market penetration strategy of Business standard in

various areas.

To know which business newspaper consumer reads.

To know which is their preferred business newspaper.

To analyze different sections of the newspaper like,


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Research MethodologyDefines The Problem And Research Objectives

Developing Research Plan

Primary Data Secondary Data

SurveyMethod

ObservationMethod

Personal Interview

Mail Questionnaire

Telephonic Interview

Magazines

Websites

Internet


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Sales Promotion Types Demos & Samplings

Coupons

Price Reductions

Free Products/Gifts

Sales Promotion Techniques New Media

Buy one get one free Joint promotions Competitions & prize draws


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Data Analysis

&

Interpretation


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Are you aware about the newspapers completely

dedicated to business news?

Yes

60%

No

40%

Awareness

INTERPRETATION:

AWARENESSABOUTBUSINESSNEWSPAPERSISGROWINGAS MAJORITY THERESPONDENTKNOWSABOUTONEORTHEOTHERBUSINESSNEWSPAPER.


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Which business newspapers do you read?

INTERPRETATION:

BS AND ETAREMAJOR PLAYERS WITH ET LEADING BY SMALLMARGIN. BUT LOOKINGAT THE ET READERSHIPALLOVER INDIABS PENETRATIONISINCREASINGFAST.

OTHERNEWSPAPERSHAVEVERYLESSREADERSHIPINTHEREGION.

45

48

10

5 15

Readers

Business Standard

Economic Times

Business Line

Financial Express

Mint


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Which business news interests you?

INTERPRETATION:

MOSTOFTHEREADERSREADBUSINESSNEWSPAPERFORASPECIFICPURPOSERATHERTHANFORTHEGENERALBUSINESSAWARENESS.

BUSINESSNEWSPAPERSAREMOSTLYBENEFICIALTOSTOCKBROKERS.

4% 6%

12%

78%

News of Interest

Whole Newspaper

Headlines

Editorial

Stocks & Mutual Funds


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What would you give preference while subscribingbusiness newspaper?

INTERPRETATION:

NEWSCONTENTISTHEFIRSTCRITERIAFORDECIDINGSUBSCRIPTIONFORMOSTOFTHECUSTOMER.

IFDISCOUNTSANDOFFERSAREGIVENALONGWITHGOODCONTENTITHELPSINSELECTIONPROCESS.

89%

4%

5%

2%

Subscription Preference

News Coverage

Gifts

Discount

Price


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For how long you have been subscribing businessnewspaper?

INTERPRETATION:

High percentage of subscription for more than 1 year andmore than 5 years.

It means the brand is fairly established in the market and lotof new readers increasing fast the potential of BS is fairlyhigh.

5%16%

45%

35%

Subscription

1-6 month

6-12 month

More than 1 year

More than 5 years


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Do you think business newspaper helps you in takinginvestment decision?

INTERPRETATION:

Most of the investors (81%) find business newspapers helpsin their investment decision.

It shows that analysis of stocks and mutual fund in thenewspaper is of high quality.

32%

49%

14%5%

Investment Decision

Very Helpful

Helpful

Of little help

Of no help


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Do you know about Business Standard?

INTERPRETATION:

ONLY65 %AWARENESS & 35 % NOTAWAREABOUTBS

This shows that promotion program run by BS is not aseffective to reach the entire target market.

65%

35%

Awareness

Yes

No


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How did you know about Business Standard?

INTERPRETATION:

32% of the respondent knows about BS through otherreaders while only 32% of them know it throughadvertisement and hoarding.

Rest 16% knows it through sales executives.

It shows that Ad campaign of BS is still to reach masses.

24%

8%32%

16%

Awareness Business Standard

Advertisement

Hoarding

Other Readers

Sales Executive


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In which language you will prefer it?

INTERPRETATION:

Most of the people like reading business newspapers in theregional language.

Regional language creates more connectivity with thepeople.

76%

24%

Preference of Language

English

Hindi


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Are you satisfied with the delivery service?

INTERPRETATION:

More than 60% of the customer are not satisfied with theservice and have complained about not on time delivery.

It shows that distribution channel of BS is not very effective.

4%

34%

56%

6%

Delivery Satisfaction

Highly Satisfied

Satisfied

Not Very Satisfied

Not Very Satisfied at all


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Are you satisfied with the quality of the news?

INTERPRETATION:

Readers have a mix reaction over content quality.

The content is not equally important for every kind ofreaders.

34%

35%

23%

8%

Content Quality Satisfaction

Highly Satisfied

Satisfied

Not Very Satisfied

Not Very Satisfied at all


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Will you continue with the subscription of BusinessStandard?

INTERPRETATION:

85% of readers wish to continue their subscription.

It can be said that BS has fairly established in the marketand if it works upon its distribution it would be able to retainits customers.

85%

10%5%

Subscription Continuation

Yes

No

Not Decided


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Findings & Conclusions Business standard has excellent quality and content as compared to any

other newspaper

Lack of brand awareness and service in some areas.

News channels and Internet media has affected the reading pattern of

readers as people do get upto date news by surfing on the net.

In this two months of SIP, I got to learn a lot about my career and also

concepts of hard core selling.

Finally, it was very good experience to understand news paper market and

to know about financial dailies of India.


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Recommendation & Suggestions Increase the number of centers from where the news paper is

available..

Regarding news content..

Management should design a vendor Relationship Management

program..

BS can improve a MIS and keep a track of its readers.

Distribution channel to be expanded up to remote places..

Customer Problem Solving department needs to be enhanced..

BS needs to include Sundays edition in its subscription..

Improve the frequency of magazines as monthly..


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