Iip Project Report_v3

8/11/2019 Iip Project Report_v3

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Sushant Sasmal,M8-09

THE TIMES OF INDIA

IIP PROJECT REPORT

on


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PROJECT TITLE

Consumer behavior and Consumer buying pattern of Times of

India Magazines with reference to BBC Knowledge, Top Gear

and Lonely Planet.

Bought business of Rs-30,000 by connecting new customer forTimes of India by conducting survey to know the customer

behavior and buying pattern

OJT


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INTRODUCTION

Print media is one of the most powerful and cost effectivemedium to transfer information and knowledge.

The print media industry in India is more than a century old and

is a well-established industry.

The print media is considered to be one of the most flourishing

industries today.

This medium is also particularly very popular to reach the targetaudience for advertisers

The revenue sources for a magazine are subscription, single

copy sales and advertisement.


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CONT

Approximately 73 percent of revenue comes from advertising

and 27 percent from circulation.

Even people are now consuming news and information from

internet through computers or mobiles, the popularity of print

media is not decreasing.


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INDUSTRY PROFILE

India has 49,000 publications, but annual revenues total just

$1.1 billion. Distribution is critical for a magazine since it has tobe readily available and marketed to consumers. Big

publications have strong distribution network set up.

Retail: magazines are available in retail outlets for sale. The

retailer gets a commission on the sale price.

Subscription: publisher signs up subscribers directly or through

partners and delivers the issues in mail.

Selective Distribution: Special sponsored copies are distributed

in airplanes and hotels.


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LITERATURE REVIEW

A Study of Consumer Behavior & Loyalty In Print Media

Challenges & strategic prescriptions with Special Reference to

English, Hindi, Marathi News Paper readers-Mumbai

By: Dr. Shaukat Ali

Associate Professor & Head, Department of Commerce, Akbar

Peerbhoy Collage of Commerce & Economics, Mumbai

RESEARCH REVIEW: ISSUES IN MAGAZINE TYPOLOGY

By: Marcia R. Prior-Miller, Iowa State University

.


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COMPANY OVERVIEW

2014 : The Times Group is Indias largest media conglomerate with its flagship

Bennett, Coleman and Company Limited (BCCL) being the largest publishing

company in India and South-Asia.


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KEY BUSINESSES:

Publishing13 newspaper18 magazines

11 publishing center, 26 printing center

Broadcasting - Zoom TV, Times now, Movies now (television)

Radio mirchi (radio), etc

Out-Of-Home- Advertisement, Posters, hodings

Other Activity-Music( Planet), Education, Financial services, Event. management(360 Degree)


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CHAIRPERSON-

INDU JAIN

Co-Chairman-Sameer Jain

BOD

TIMES

GROUP

Entertainment

Network India ltd

Brand

capital

Times Global

broad casting ltd

Times business

solution

World Wide

Media

Time internet

Limited

Times Of

Money

Time Innovative

Media ltd

BCCL

CEOSunder Hemrajani

CEOPrashant Pandey

CEOSatyan Gajwa

PresidentAvijit Nanda

CEOSunil Lulla

CEODebashish Ghosh

CEOTarun Rai

CEO

S . Sivakumar

Ravi Dhariwal , CEO

BCCL

Arnab Das Sharma

President Response

Sanjeev VohraExecutive

President Audience RMD

Senior VP

West Senior VP East Senior VP NorthSubroto Guha

Senior VP South

RMD head AP

Amit Prasad

Shrijit Mishra -

COOEditor in

Chief

MD-Vineet Jain

Subcidiary companies


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CONT

Senior Reader Relation

executive

Project trainee

Sushant Sasmal

City SalesB.SrinivasanMagazines Head

Vibhuti AnandNIE-P.Sushsala


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PRODUCT OVERVIEW


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COMPETITORS

Travel Magazine

Product: Lonely Planet

Competitors: Travel plus, Outlook Traveller, National Geographic

Traveller etc

Science and knowledge Magazines

Product: BBC Knowledge

Competitors: Knowledge Food and Catering Popular science India,

Readers Digest etc.Automobiles Magazine

Product: BBC Top Gear

Competitors: Overdrive, Auto Car, car, BS motoring etc.


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OBJECTIVES:

1. Usage and attitude study.

2. Consumer satisfaction Index.

3. Competitor analysis.

4. Perceptual mapping.

5. Purchase drivers.

6. Customer loyalty.

7. Customer profiling.


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RESEARCH METHODOLOGY TASK

Data: Primary Data

Sources of Data:

The data is both qualitative as well quantitative and is collected from

various new and existing subscribers of Times of India Publications

magazines. The data has been collected through door-door visit and

filling up of questionnaires from the subscribers

Data Period: 2 months

Sampling Techniques: Convenience Sampling

Software used :Microsoft Tools


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RESEARCH METHODOLOGY TASK

Statistical tools used:

-Percentage Analysis

-Cross-Tabulation

-Chi-Square test

Sample size- The overall sample size for collecting primary data

is 342, while the sample per brand is BBC K=98, Top Gear=114,

Lonely Planet=130


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SCOPE OF STUDY:

In 2007 the Indian magazine industry size was estimated at 1900cores and registered a growth of 15% for over the previous year

so there are huge scopes of the magazines industry to flourish.

In accordance with the objectives of the project this project isdone in territory of Hyderabad, Telangana. The research has been

carried in several areas in Hyderabad. The market survey and

feedback collection was done through questionnaires.

This project will help the company to have a clear picture of what

a customer wants in a product, to know their tastes and

preference, to analyze the competitors.


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LIMITATIONS OF THE STUDY:

The survey was conducted only in Hyderabad city, so it cant givea completely accurate picture of customers perception and

buying behavior pan India.

The project duration was very short as 2 months, and in this shortspan of time gathering genuine feedback in questionable.

It was a sample survey of only 342 clients, which is very small to

existing subscriber base.

As the questionnaire consist of both the open and close ended

questions, the client was half force to answer in selective choices.

Inability to respond to the questionnaire due to lack of time.


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DATA ANALYSIS

1) Are you a regular subscriber of magazine?
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FINDINGS AND SUGGESTIONS

(A) Suggestions based on Analysis:

1) Home delivery:2) Focus more on self-employed professionals and Service/job

occupation category:

3) Huge scope for upselling:

(B) Suggestions based on Observation:

1) Improve distribution channel:

2) On time renewal reminder:

3) Entering into other magazine segments:


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LEARNING

Understanding the function of the Magazine Industry

Understand about attitude and preference of customer while

selling Magazine

Learned how to work at ground level

Learned how to tackle buyer problem


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BIBILOGRAPHY

http://en.wikipedia.org/wiki/The_Times_of_India http://www.timesgroup.com/bccl/about-us.html

http://www.timesmediastudies.com/faq.html

http://www.timespro.com/why-timespro/the-times-group

http://www.worldwidemedia.in/titles.php


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