The Financial Express
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Project Report On MARKET RESEARCH AND BRAND COMPARISON WITH SUBMITTED BY: ER. AAKASH KUMAR SINHA ROLL NO. 212 PGDM 2011-2013 ITM BUSINESS SCHOOL, NAVI MUMBAI DECLARATION I, Aakash kumar Sinha hereby declare that the report on “summer training” entitled “Market Strategy, Research and Brand comparison study for various economic dailies” is a result of my own work and indebtedness to work in publications, if any have been duly acknowledged. Place: Delhi Signature Date: 16th May, 2012 Aakash Kumar Sinha ACKNOWLEDGEMENT During the perseverance of this project, I was supported by different people, whose names if not mentioned would be inconsiderate on part. First of all I would like to thanks, BUSINESS STANDARD LIMITED for an opportunity to undergo my summer training in Delhi. I would like to extend my sincere gratitude and appreciation to the industry guide Mr. Sanaulla Khan, Mr. Nikhil Srivastava and Mr. Jai Kishore who supported me and initiated me into the study of “Market Research and Brand comparison study for various economic dailies”. It has indeed been a great experience working under them. During the course of the project for their invaluable advice and guidance provided throughout this project. I would also like to thank my mentor/faculty guide Mrs. Vidya Iyer for his constant support throughout the duration of the project. I would also like to give my sincere gratitude to all my friends for supporting me throughout the completion of my project. PREFACE Summer project is part of academic requirement incorporated in the curriculum of PGDM Program. This exercise enables to get practical exposure to realities of corporate world in action and practice. A great knowledge comes from better theoretical knowledge and a good experience. I got a truly rewarding chance to get best feel and experience of the real world economic environment in the best possible manner. For this practical training , I had undergone a research project on “Brand comparison study for various economic dailies”. During the training period I had studied how attitude of consumer perception regarding financial newspaper and how they feel and what they want in daily financial newspaper. I have also get to know how it can be measured. During my project I came to know different aspect of people perception on financial newspaper and their awareness. EXECUTIVE SUMMARY India is one of the few countries in the world to have many business newspapers, which not only reflects the vitality and vibrancy of the media, but also the new vitality of our economy. The large readership for these business newspapers transcends from the rapidly growing corporate sector, it also illustrates the growing interest that the general public now evinces in economic matters which reflect the growing importance of business and economy in our national discourse. There was a huge growth in the sales of the business newspapers for the past few years. According to the recent study by Federation of Indian Chambers of Commerce and Industry (FICCI), this growth would outperform the general economy each year till 2011. The Indian print media industry netted $90.80 million in foreign investment in the last three years; few papers like Business standard have tied up with Financial Times of London. Business newspapers have the ability to carry the message in greater detail and clarity, more in-depth information and analysis, which helps companies and their business. Business newspapers are re-inventing themselves to protect their turf in a fiercely competitive multi-media environment. They are using different strategies to attract the customers of different sectors. Business newspapers focused mainly on business news, insightful views on significant issues and comprehensive coverage of the stock market. They have managed to hold the attention and fidelity of more than 9, 00,000 readers (both individual and corporate across the nation). All the business newspapers in India (Economic Times, Business Standard, Financial Times, Business Line, Mint and Financial Chronicle) are working strategically to increase their sales. This Summer Internship Program is also designed with a view to study about the market regarding the personal sale of the Business Standard products and also looking for subscriptions and promoting the product and also creating awareness about business newspapers among different sectors. The aim is to create an in-depth awareness of the brand Business Standard among the various segments of readers, in comparison to other business dailies like Economic Times, Business Line and Financial Times. There is a huge scope of growth for Business newspapers in coming years as only 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 the adult literacy is about 65 per cent. To build this gap between readership and literacy and also to remain competitive the publications have kept their prices low and depended entirely on advertisers to subsidize the reader and to increase the sales. INTRODUCTION Type: Privately Held Industry Type: Print media (Newspapers) Owner: Kodak Mahindra Group Headquarters: Bombay, India Founder: Ananda Publishers Founded: 1975 Editor: Sanjaya Baru Key People: Mr.T.N.Ninan (Chairman) Web site: www.business-standard.com No of Employees: 610 EMPLOYEES Circulation: 217000 Business Standard is a financial newspaper from Business Standard Ltd (BSL). It is published in three languages (English, Hindi and Gujarati) from 14 centers in India. The main English edition comes out from 12 centers - Mumbai, New Delhi, Kolkata, Bangalore, Chennai, Ahmadabad, Hyderabad, Chandigarh, Pune, Lucknow, Bhubaneswar, and Kochi - and reaches readers in over 1,000 towns and cities across the country. Business Standard is a serious, respected, top notch, non frivolous, business daily, which is founded on the editorial principles of integrity, accuracy and trust. It was started in 1975 by the Anand Bazar group in what was then Calcutta, the paper was hived off as a separate company in 1996, and then bought by Mumbai-based financial investors led by the Kotak Mahindra Bank, after which it began a phase of rapid expansion with the launch of new editions. T.N.NINAN was the editor from 1993 to 2009. In January 2010, he was succeeded as the editor by Sanjay Baru. Mr. Ninan became the chairman and editorial director of the company. Business Standard sells 210,000 copies daily in English, mostly to the business and policy-making elite. Its Hindi edition sells 53,000 copies. AC Nielsen's survey of the upper middle and rich market in India places Business Standard next to The Economic Times in total readership. The paper has a reputation for reliable reporting and responsible journalism, as well as for its stimulating page of analysis and editorial comment. In 2006, the paper started its Sunday edition, which is now published from four centers. The Hindi paper is launched in February 2008, it comes out from seven centers, stretching from Mumbai in the west, and running across the Hindi heartland to Kolkata in the east. Apart from a business newspaper, BSL publishes several periodicals, including BS Motoring, Indian Management, Asian Management Review, a quarterly publication. In January 2010, it launched smart investor. In an information-cum-trading website for those interested in the stock market. It is regarded as the India‟s most credible and second largest business daily. INDUSTRY PROFILE The first newspaper however was said to be the Strasbourg Relation, in the early seventeenth century. The first English-language newspaper was published in Amsterdam in 1620. A year and a half later, Courante, or weekly news from Italy, Germany, Hungary, Poland, Bohemia, France and the Low Country‟s was published in England by an "N.B. English Newspapers in Indian subcontinent A British man William Bolts in 1766 offered the first ever paper to his fellow countrymen in Calcutta and helped them establish a printing press. In 1780 another man named James Augustus Hickey published a newspaper with the name of Bengal Gazette/General Calcutta Adviser. The size of that paper was 12"x8" with only 4 pages. Indian newspaper industry Indian News Paper industry is worth of US$ 2.85 billion. This industry is projected to grow from its present size to around US$ 5.04 billion by 2011. The Display advertising component of the Newspaper market in India for calendar year 2007 was valued at Rs.9, 290 cr. Worldwide newspaper circulation has risen to 540 million copies a day in 2008 despite a downturn in the global economy. Global circulation of newspaper was increased by 1.3 per cent in 2009. This represents an increase of 8.8 per cent over the past five years. In India newspaper publication began in Calcutta in the 1780's and by 1800 there were several dozen publications in English, with the numbers increasing periodically. Now, the progress has been so much that every major newspaper from India has an internet edition. In India the print and the electronic media are both very active. It was reported that in 1993, there were approximately 4000 newspapers being published in the country. Now the figure has increased to approximately5, 525 newspapers. Each week, National Readership Survey (NRS) says, the print news media reaches 242 million readers. These enormous numbers, the Survey suggests, represent a chain of growth, driven both by expanding literacy and improved living standards. The publications in the country are in Hindi, English and all vernacular languages. There is also a good range of weekly, fortnightly and monthly magazines in the country which cover a whole range of national as well as international issues in depth. Current Publishing Scenario: Registrar of Newspapers for India . 55,780 newspapers and periodicals registered (31.3.2003) . Around 7,156 submit annual returns with circulation 142 Million • Newspapers and Periodicals each have circulation of 70m .