Post on 12-Apr-2017
RAHUL AUDDYAUNITEDWORLD SCHOOL OF
BUSINESS040201091
STUDY OF CONSUMER PERCEPTION AND PREFERENCE
TOWARDS MINT
Mr. Hemang Gandhi Dr. Sunil Patel(External Guide) (Internal Guide)Deputy Manager ProfessorMINT UWSB, AHMEDABAD
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CONTENTSHT MEDIA LTDMINTCIRCULATIONDEPARTMENTSDISTRIBUTIONRESEARCH METHODOLOGYANALYSIS & INTERPRETATIONFINDINGSSUGGESTIONSLIMITATIONS
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HT MEDIA LTD.
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Hindustan Times was founded in 1924 by Sunder Singh Lyallpuri, founder-father of the Akali movement and the Shiromani Akali Dal in Punjab.
K. M. Panikkar was its first editor with Devdas Gandhi (son of Mahatma Gandhi) on the editor's panel. The opening ceremony was performed by Mahatma Gandhi on 26 September 1924.
It has its roots in the Indian independence movement of the first half of the twentieth century and even faced the noted "Hindustan Times Contempt Case (August–November, 1941)" at Allahabad High Court.
It’s products include: MINT, Hindustan Times, HT City, Shine.com, Desimartini.com, FM Fever 104 and Livemint.com
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MINT
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MINT Ahmedabad edition
Magazines with MINT
Stock market and mutual funds
Monday to SaturdayEdited by: R Sukumaran
Monday to Friday: MINT MONEY
MINT MONEY dedicated page
Weekdays at 4/- and Saturday at 10/-
Saturday: Lounge Insurance scheme on half page
Formulate specification
50-52 cms in lengths and 32.9 cms wide
Monthly: Indulge Collaborated with the WALL STREET
JOURNAL
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SWOTSTRENGTH WEAKNESS OPPORTUNITY THREAT
Berliner format easy to
handle
High on self promotion of
App
Fastest growing brand, 2nd
largest readership in 7 yrs
Brand loyalty to Economics
Times
Best in class paper quality,
attractive
Company compromising on
revenue by selling at Rs. 4
which is very low for the
magazine type paper
Very attractive to eye, low
on price, and thus accepted
duly.
Switching of customer from
traditional reading to e
reading
Bright use of colours and
printing quality
Covers lesser detailed
financial news compared to
the others
Advantage of e-paper, high
on advertisements, revenue
generation
High raw Material cost than
other papers.
As it includes huge amount
of colour and pictures
Business of Life, a premier
content on the centre spread
Excessive social media
presence can reduce the hard
copy distribution
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PRICING
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Monday to Friday: INR 4Saturday: INR 10Yearly Cover Cost: 1560Subscription Plans:
1. INR 899 (Whole Year)2. INR 399 + (INR 40 per Month to Vendor)3. INR 989 (Whole Year with Gift)4. INR 509 + (INR 40 per Month to Vendor)
{Gift Included}
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THE COMPETITION
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CIRCULATION
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Raw Material
Printing Press
Bharuch
Vadodra Anand
Agents in
each city
Book Stalls
Hawkers
Vendors
Hawkers
Readers
Nadiad
Ahmedabad
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DEPARTMENTS
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DEPARTMENTS
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NehrunagarPaldiIncome TaxKhanpurKalupurManinagar
DISTRIBUTION CENTRES
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RESEARCH METHODOLOGY
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PARAMETER SELECTION
DATA SOURCE
Primary Data Source: Survey and QuestionnaireSecondary Data Source: Company and other websites
RESEARCH APPROACHSurvey at the time of sales and questionnaire
RESEARCH DESIGN Exploratory research
RESEARCH INSTRUMENT Questionnaire
SAMPLE REGIONCorporate offices, Banks and Stock Brokers
SAMPLING AREA Ahmedabad, Baroda and Gandhinagar
SAMPLE SIZE 200
TARGET MARKETCA, CS, Stock Brokers, Bankers, Investors, Professionals, Teachers, Students, Policy Makers
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SIP TARGETS
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WHAT IS TO BE ACHIEVED? WHAT IS ACHIEVED?
Sales in Ahmedabad: 45 Sales in Ahmedabad: 223
Sales in Vadodara: 4 Sales in Vadodara: 5
First to sell Subscription amongst team
Achieved
First Day highest sales figure Achieved
Lead a team of 11 interns from Sal college and KS college
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ANALYSIS AND INTERPRETATION
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Analysis
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OccupationIncomeMarket ShareBasis of paper selectionConsumer buying decision
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OCCUPATION
23%
2%
63%
8%4%
BusinessmanOthersServicesStock BrokerStudent
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GENDER:- Male: 165 Female: 35AGE:- 21 – 30: 58 31 – 40: 77 41 – 50: 42 51 – 60: 19 61 +: 4
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INCOME1%
9%
28%
57%
4%
10001 - 1500015001 - 2000020001 - 2500025001 - 30000
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MARKET SHARE
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24%
36%6%
5%
30%
BUSINESS STANDARDECONOMIC TIMESFINANCIAL EXPRESSHINDU BUSINESS LINEMINT
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BASIS OF PAPER SELECTION
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53%
36%
1% 6%5%
ContentLanguageOthersPaper QualityPrice
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BUYING DECISION TOWARDS MINT
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Rank the features which would affect your buying decision towards MINT _ Colour of Paper
Rank the features which would affect your buying decision towards MINT _ Size of Paper
Rank the features which would affect your buying decision towards MINT _ Info Graphics
Rank the features which would affect your buying decision towards MINT _ Quality of News
0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50
3.08
3.04
2.52
1.37
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CHOICE OF SUPPLEMENT NOT SUPPLIED WITH MINT
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8%
20%
28%
28%
16%
EducationEmploymentIndustrialPortfolio ManagementSocial
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SATISFACTION LEVEL TOWARDS MARKET INFORMATION
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64%6%
31%
ModerateNot Sat-isfiedSatisfied
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MINT FEATURES: RANKING
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Rank the features of MINT in terms of news content _ Political
Rank the features of MINT in terms of news content _ Cultural
Rank the features of MINT in terms of news content _ Corporate News
Rank the features of MINT in terms of news content _ Tax and Legal Advice
Rank the features of MINT in terms of news content _ Stock Market
0.000.501.001.502.002.503.003.504.004.50
3.91
3.91
1.92
2.42
2.84
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RELATION BETWEEN AGE AND CHOICE OF SUPPLEMENT WHICH IS NOT PROVIDED BUT DESIRED
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Education Employment Industrial Portfolio Management Social0
5
10
15
20
25
30
35
1
25
8
17
77
12
30
17
11
7
2
16
12
5
1 02
10
6
0 0 1 1 2
Age 21-30 Age 31-40 Age 41-50Age 51-60 Age 61+
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RELATION BETWEEN GENDER AND SATISFACTION LEVEL OF SUPPLEMENTS PROVIDED
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Average Not Satisfying Satisfying Very Satisfying
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121613
1
82
69
Female Male
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HYPOTHESIS 1: Monthly Income and attraction factor to buy a financial newspaper As the Pearson Chi-Square Level of Significance is higher than
5%, (10.6%), the H0 (Null Hypothesis) hold true and Monthly Income and attraction factor to buy a financial newspaper are independent.
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Content Language Others Paper Quality Price0
10
20
30
40
50
60
70
10001-1500015001-2000020001-2500025001-30000Nil - 10000
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HYPOTHESIS 2: Education Qualification and reason for subscribing to MINT As the Pearson Chi-Square Level of Significance is higher
than 5%, (12.9%), the H0 (Null Hypothesis) hold true and “Education Qualification and reason for subscribing to MINT are independent.”
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Brand Value Gifts and Discount
Information Price Supplement0
5
10
15
20
25
30
35
GraduatePost GraduateUnder Graduate
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FINDINGS
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MINT is more preferred at residences rather than corporate offices here in Ahmedabad, because of the striking magazines provided by MINT.
People with prolonged work experience and who has stayed in the northern parts of the country prefer MINT to Economic Times, Business Standard and Business Line. MINT, in the northern parts of the country has a wider market share and dominance as compared to the names mentioned above.
Most of the newspaper readers in Gujarat, specially Ahmedabad are not fluent English readers and rely mostly on Sandesh, Divya Bhaskar, Gujarat Samachar and NavGujarat Samay.
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Economic Times has a special Gujarati edition which specifically targets Gujarati speaking and reading readers. MINT only prints in English and thus loses out on a fair share of market.
Colleges and B schools across Ahmedabad and Baroda has wide readership of MINT.
MINT is the fastest taken away newspaper at airports and lounges.
The discounted rates of subscription and gifts that are given to subscribers are the prime sales driving force for MINT.
Most respondents in the survey conducted do not consider MINT to be a hardcore financial business daily newspaper.
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SUGGESTIONS
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MINT should provide the option for online fund transfer through the internet and Net Banking facilities. This makes it way simpler for the subscribers to pay once they have subscribed to MINT.
The number of supplements provided by MINT is very few in number when compared to the Economic Times. If MINT wants to create a market as huge as Economic Times.
The pricing of MINT should be kept constant for a longer duration of time.
Interns working with MINT to increase readership should be given proper sales territory.
The LIVEMINT app gets to much of attention and limelight in the MINT newspaper, this can be reduced by a fair extent.
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LIMITATIONS
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Ahmedabad has a very limited number of English newspaper readers, thus the market is limited by size. There are very few readers in Ahmedabad who appreciate MINT, its language, its association with The World Street Journal.
There are over 7000 MINT readers in Ahmedabad and the survey was conducted on 200 people only, which is a very small sample in regard to the population.
Economic Times has a huge brand name in Ahmedabad and the brand value that people associate with it is really difficult to switch to any other brand, whether be it MINT, Hindu Business Line or Business Standard.
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PHOTO GALLERY OF EVENTS TAKEN IN-CHARGE OF:
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Handling Baroda Interns Promoting MINT at ICSI Event at The Fern Hotel: Mr. Gandhi, Raktim and Me
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THANK YOU
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