Customer Brand perception of various Economic dailies

By

Deepika Iyer - 14

PGDM Marketing

2011-2013

At

Summer Internship Project 2012

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

Continued

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

Continued

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 -

Strategist (Monday)

Smart investor (Tuesday - Friday)

Weekend (Saturday)

Magazines –

Motoring Indian

Management The Fund

Manager, Banking Annual, BS1000 (Annual basis)

Major players in Indian market

Economic Times Mint Financial Express Financial

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.

Continued

Defines The Problem And Research Objectives

Developing Research Plan

Primary Data Secondary Data

Survey Method

Observation Method

Personal Interview

Mail Questionnaire

Telephonic Interview

Magazines

Websites

Internet

Continued

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

100%

1 2

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 Sunday’s 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

Continued

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