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PROJECT
ON
CRITERIA USED BY THE CONSUMER IN SELECTION
OF BRAND OF FINANCIAL NEWSPAPER
Submitted in partial fulfillment of the requirements for
Master in management studies.
SEMESTER: II
2010-12
SUBMITTED BY
Name: CHIRAG J PARMAR
MMS Roll No. 32
Batch: 2010 - 2012
H K Institute of Management Studies and Research,
Jogeshwari,
Mumbai 400102
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H K Institute of Management Studies and Research,Jogeshwari, Mumbai 400102
JULY 20-- - DECEMBER 20-- / MAY JUNE 200_
Students Declaration
I hereby declare that this report submitted in partial fulfillment of the requirement of the award
for the Masters of Management Studies degree to H K Institute of Management Studies and
Research is my original work and not submitted for award of any degree or diploma fellowship
or for similar titles or prizes.
I further certify that I have no objection and grant the rights to H K Institute of Management
Studies and Research to publish any chapter/ project if they deem fit in Journals/Magazines and
newspapers etc. without my permission.
Place : Mumbai
Date : 30/07/2011
Name : Chirag J Parmar
Class : MMS I Sem. II
Roll No. : 32.
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Certificate
This is to certify that the dissertation submitted in partial fulfillment for the award of
Master In Management Studies of H K Institute of Management Studies and Research
is a result of the bonafide research work carried out by Mr. Chirag J parmar under mysupervision and guidance, no part of this report has been submitted for award of any
other degree, diploma, fellowship or other similar titles or prizes. The work has also not
been published in any Journals/Magazines.
Date Industry/NGO guide : _______________
Company : _______________
Place: Designation : _______________
Project guide : Prof. Dipika singh Prof. K.C. Pandey
Core Faculty Director
H K I M S R H K I M S R
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ACKNOWLEDGEMENT
During the perseverance of this project, I was supported by different people,
whose names if not mentioned would be inconsiderate on my part. I would like to
extend my sincere gratitude and appreciation to Prof. Dipika singh who initiated
me into the study of CRITERIA USED BY THE CONSUMER IN SELECTION
OF BRAND OF FINANCIAL NEWSPAPER.
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 also owe my sincere gratitude to Prof. K.C.Pandey (Director ofHKIMSR).
I would also like to thank the following people who through their experience have
enlightened me on the practical aspects of this subject without whom the study
would not have been carried out successfully.
o Mr. Madhav modghade
o Mr. Vaibhav pore
o Mr. Prabhakar singh
I would also like to give my sincere gratitude to all my college librarian staff
because of whom I am able to complete my project .
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CHAPTER 1
CHAPTER 2
CHAPTER 3
CHAPTER 4
ANNEXURES
1.1 Executive Summary
2.1 Introduction
2.1.1 Introduction to Company
2.1.2 Introduction to Project
2.2 Objectives
2.3 Methodology
2.4 Sampling Design
2.5 Limitations
3.1 Analysis & Findings
4.1 Conclusions
4.2 Recommendations
A.1 Questionnaire
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2
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31
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35
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SIGNIFICANCE OF THE STUDY
This project will help the Business Standard Ltd. to implement
necessary steps to improve the market share especially in
MUMBAI. It will also help the organization to find out weak points
in comparison to Economic Times & others.
The study is about Criteria used by the consumer in
selection of Brand of Financial Newspaper. The main competitor
of Business Standard is Economic Times therefore this study will
help to Business Standard Ltd. to know the readers view about
both the newspapers and what consumer see before selecting the
brand of newspaper.
The newspaper industry can be said as the most trusted
industry as people believe whatever is printed in the newspaper
99% is a fact and day to day happenings. My motive was to
broaden the spectrum of trust and acquire more customers for
business standard ltd.
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About company
Business standard
Type Daily newspaper
Format Broadsheet
Owner Kotak Mahindra Bank
Founder Ananda Publishers
Publisher Business Standard Ltd
Editor Sanjaya Baru
Staff writers A K Bhattacharya
Sunil Jain
Shyamal Majumdar and Others
Founded 1975
Language English & Hindi
Circulation 1,44,000 (English)
53,000 (Hindi)
Office website business-standard.com (English)
hindi.business-standard.com
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BUSINESS STANDARD LTD.
Business Standard is an Indian English-language daily newspaper
published by Business Standard Ltd (BSL) in two languages, English
and Hindi. The Newspaper primarily covers India and international
business, and financial news and issues.
The main English-language edition comes from 12 regional
Centres - Mumbai, New Delhi, Kolkata, Bangalore, Chennai,
Ahmedabad, Hyderabad, Chandigarh, Pune, Lucknow,
Bhubaneswar, and Kochi - and reaches readers in over 1,000
towns and cities across India.
HISTORY
Started in 1975 in Kolkata by the Ananda Publishers group,
Business Standardwas hived offas a separate company in 1996.
It was then bought by Mumbai-based financial investors led by
the Kotak Mahindra Bank, after which began a phase of rapid
expansion with the launch of new editions.
http://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/English_languagehttp://en.wikipedia.org/wiki/Newspaperhttp://en.wikipedia.org/wiki/Economy_of_Indiahttp://en.wikipedia.org/wiki/International_businesshttp://en.wikipedia.org/wiki/International_businesshttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/New_Delhihttp://en.wikipedia.org/wiki/Kolkatahttp://en.wikipedia.org/wiki/Bangalorehttp://en.wikipedia.org/wiki/Chennaihttp://en.wikipedia.org/wiki/Ahmedabadhttp://en.wikipedia.org/wiki/Hyderabad,_Indiahttp://en.wikipedia.org/wiki/Chandigarhhttp://en.wikipedia.org/wiki/Punehttp://en.wikipedia.org/wiki/Lucknowhttp://en.wikipedia.org/wiki/Bhubaneswarhttp://en.wikipedia.org/wiki/Kochi_(India)http://en.wikipedia.org/wiki/Ananda_Publishershttp://en.wiktionary.org/wiki/hive_offhttp://en.wikipedia.org/wiki/Kotak_Mahindra_Bankhttp://en.wikipedia.org/wiki/Kotak_Mahindra_Bankhttp://en.wikipedia.org/wiki/Kotak_Mahindra_Bankhttp://en.wiktionary.org/wiki/hive_offhttp://en.wikipedia.org/wiki/Ananda_Publishershttp://en.wikipedia.org/wiki/Kochi_(India)http://en.wikipedia.org/wiki/Bhubaneswarhttp://en.wikipedia.org/wiki/Lucknowhttp://en.wikipedia.org/wiki/Punehttp://en.wikipedia.org/wiki/Chandigarhhttp://en.wikipedia.org/wiki/Hyderabad,_Indiahttp://en.wikipedia.org/wiki/Ahmedabadhttp://en.wikipedia.org/wiki/Chennaihttp://en.wikipedia.org/wiki/Bangalorehttp://en.wikipedia.org/wiki/Kolkatahttp://en.wikipedia.org/wiki/New_Delhihttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/International_businesshttp://en.wikipedia.org/wiki/International_businesshttp://en.wikipedia.org/wiki/Economy_of_Indiahttp://en.wikipedia.org/wiki/Newspaperhttp://en.wikipedia.org/wiki/English_languagehttp://en.wikipedia.org/wiki/India8/4/2019 Chirag Final Report
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PERSONNEL
T. N. Ninan was editor from 1993 to 2009, when he took up the
editorship ofThe Economic Times. In January 2010, Ninan became
chairman and editorial director of BSL and was succeeded as
editor ofBusiness Standardby Dr Sanjaya Baru. He was the media
advisor of Prime Minister Manmohan Sing. The paper which is
India's second largest business daily employs around 200 business
journalists, including A K Bhattacharya and Shyamal Majumdar.
In establishing a pedigree of strong financial journalism, Business
Standard also publishes articles by Bimal Jalan, former governor
of the Reserve Bank of India; Shankar Acharya, former chiefeconomic advisor to the Government of India; Deepak Lal,
professor of economics, UCLA; Suman Bery, director-general,
National Council of Applied Economic Research; Abheek Barua,
chief economist ofHDFC Bank; Nitin Desai, former chief economic
advisor and former under-secretary general at the United Nations;
Surjit Bhalla, chairman ofOXUS; Arvind Subramanian, professor at
the Peterson Institute for International Economics; M. Govinda
Rao, director ofNational Institute of Public Finance and Policy;
http://en.wikipedia.org/wiki/The_Economic_Timeshttp://en.wikipedia.org/wiki/The_Economic_Timeshttp://en.wikipedia.org/wiki/The_Economic_Timeshttp://en.wikipedia.org/wiki/Chairmanhttp://en.wikipedia.org/wiki/Bimal_Jalanhttp://en.wikipedia.org/wiki/Reserve_Bank_of_Indiahttp://en.wikipedia.org/wiki/Shankar_Acharyahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Deepak_Lalhttp://en.wikipedia.org/wiki/UCLAhttp://en.wikipedia.org/wiki/HDFC_Bankhttp://en.wikipedia.org/wiki/Nitin_Desaihttp://en.wikipedia.org/wiki/Under-Secretary-General_of_the_United_Nationshttp://en.wikipedia.org/wiki/United_Nationshttp://en.wikipedia.org/wiki/OXUS_Development_Networkhttp://en.wikipedia.org/wiki/Peterson_Institute_for_International_Economicshttp://en.wikipedia.org/wiki/National_Institute_of_Public_Finance_and_Policyhttp://en.wikipedia.org/wiki/National_Institute_of_Public_Finance_and_Policyhttp://en.wikipedia.org/wiki/Peterson_Institute_for_International_Economicshttp://en.wikipedia.org/wiki/OXUS_Development_Networkhttp://en.wikipedia.org/wiki/United_Nationshttp://en.wikipedia.org/wiki/Under-Secretary-General_of_the_United_Nationshttp://en.wikipedia.org/wiki/Nitin_Desaihttp://en.wikipedia.org/wiki/HDFC_Bankhttp://en.wikipedia.org/wiki/UCLAhttp://en.wikipedia.org/wiki/Deepak_Lalhttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Shankar_Acharyahttp://en.wikipedia.org/wiki/Reserve_Bank_of_Indiahttp://en.wikipedia.org/wiki/Bimal_Jalanhttp://en.wikipedia.org/wiki/Chairmanhttp://en.wikipedia.org/wiki/The_Economic_Times8/4/2019 Chirag Final Report
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BSL also publishes various periodicals, including BS Motoring,
Indian Management and the Asian Management Review. The
Hindi edition was launched in February 2008 from seven centres
stretching from Mumbai in the west, running across the Hindi
Belt, and to Kolkata in the east.
ELECTRONIC
The newspaper's website, business-standard.com, allows visitors
to access the Business Standarde-paper, with a choice of editions.
The Business Standard website receives 1.5 million unique users
per month, the highest for any "stand alone" newspaper website
in India.[1]
In January 2010, it launched smartinvestor.in, an information-
cum-trading website for those interested in the stock market
BRAND POSITIONING
Positioned as a serious, respected, top-notch, non-Frivolous,
business daily which is founded on the editorial principles of
integrity.
http://en.wikipedia.org/wiki/Periodical_publicationhttp://en.wikipedia.org/wiki/Hindi_Belthttp://en.wikipedia.org/wiki/Hindi_Belthttp://business-standard.com/http://en.wikipedia.org/wiki/Electronic_paper#Newspapershttp://en.wikipedia.org/wiki/Unique_userhttp://en.wikipedia.org/wiki/Business_Standard#cite_note-About_us-0http://en.wikipedia.org/wiki/Business_Standard#cite_note-About_us-0http://en.wikipedia.org/wiki/Business_Standard#cite_note-About_us-0http://www.smartinvestor.in/http://www.smartinvestor.in/http://en.wikipedia.org/wiki/Business_Standard#cite_note-About_us-0http://en.wikipedia.org/wiki/Unique_userhttp://en.wikipedia.org/wiki/Electronic_paper#Newspapershttp://business-standard.com/http://en.wikipedia.org/wiki/Hindi_Belthttp://en.wikipedia.org/wiki/Hindi_Belthttp://en.wikipedia.org/wiki/Periodical_publication8/4/2019 Chirag Final Report
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A Paper that does not compromise on editorial values.
That conducts its business within an ethics framework.
That stands for excellence, fairness, impartiality and
authority on the subject.
That represents India reaching out to the world: the first
paper to be associated with a global publishing brand.
Business standard is positioned as a premium financial daily.
Reinforced by the higher cover price compared to the
market leader.
Business standard believes in:
Providing information that creates wealth & enriches lives
Editorial Overview (Focus on Market)
Money & Markets
The compass
o
Unique feature to Business Standard
o BS experts exclusive take on more than 12 markets
and corporate developments every week
o Most important financial news
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Commodities
o Most exhaustive coverage on the commodities space
o Regarded as a key strength of BSs coverage
Money & currency
Stock Analysis
o Expert view on stocks performanceo In-depth analysis on all performance metrics
BS 200
Unique feature to Business Standard Tuesday to Saturday:
An in-depth analysis & tools for tracking the top performing
200 listed stocks that contributes to 90 to 95% of volume
and value of total trade I the stock
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VALUE ADD-ONS FOR READERS
Weekly supplements
Smart Investor (everyday):
Serves as a comprehensive investment guide.
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The smart investor
A critical tool for discerning investors
o Appears everyday
o Just so the weeks investments can be planned
o
12 page section in Berliner format
Covers the following features
Investment Counter
o Smart Features by experts on the outlook for the market.
o Trading Desk Covering Macro & Micro Technical, with
specific trading tips for the week.
o Exhaustive coverage on derivatives
o Sectorial analysis of topical interest
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Strategist (Monday):
Covers issues around management & marketing.
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The strategist
A sought after weekly supplement, the strategist appears
every Monday.
Covers issues on management & marketing.
Analyses critical issues through case studies.
The following are some of the regular features
o The Quality Conundrum
o Kit- critical information relating to an industry in an
easily digestible form.
o The strategist Quiz
o Bookworm- top 10 business bestsellers list.
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Weekend (Saturday):
A weekend read covers Art, Leisure, Lifestyle
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Weekend
Unlike other business newspaper Business Standard sustains its
circulation on this day through its most popular section BS
Weekend
The weekend section features
o Newsmakers
o Lifestyle
o Portraits of wealthy people
o Arts
o Travel
o Real estate/ Golf
o Book reviews
o Exciting full page on motoring
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Annuals
The Fund Manager - Covers the high points and
performances of Mutual Funds . An annual guide to smartly
invest in mutual funds. Includes profiles of top fund
managers.
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BS 1000 A guide to Indias top 1000 companies. An
annual reference book on corporate performance. Analyses
and rates top 1000 listed companies.
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Monthly magazine
BS MotoringBSMamong Indias most regarded motoring magazines
Led by a team which is passionate about automobiles
which reflects in the loyal readership that it commands.
Circulation in excess of 25,000 copies from news stands
Also, abridged version circulated to readers of Business
Standard
Among many firsts, the BS Motoring awards is the oldest
and most respected.
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INTRODUCTION TO PROJECT
Indias Leading Financial Daily
Since 1975.
Project Title
CRITERIA USED BY THE CONSUMER IN SELECTION OF
BRAND OF FINANCIAL NEWSPAPER
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OBJECTIVE
To find out the brand preference among the business
newspapers.
To find out the attributes which influence the consumer
to purchase business daily?
To interact with the people and to explain the
subscription scheme and about the paper to increase
the profit of the company.
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METHODOLOGY
Source of Data : There are two types of data which
have used in this study:
o Primary Data
o Secondary Data
Research Instrument: The Questionnaire is the most
common instrument used in collecting primary data for
the study. It was used for consumer survey, which
helps in study.
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SAMPLING DESIGN
Sampling Method : Simple random sampling
Sample Unit:
o Management Student & Professors
o Corporate professionals
o Chartered Accountant
o Investors (Stock brokers).
Sample Size: The sample size for the survey is 100
chosen from the large population of area covered. Out
of 100 it was divided in 25-25-25-25 respectively in
above categories of sample unit.
Area covered:
o Borivali to virar
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LIMITATIONS
The study have been completed in 60 days, this is not sufficient
time to do a survey in city like Mumbai.
The sample size chosen is limited to 100 respondents; the
study may not be applicable to the total market.
As the market being very huge it was not possible to cover each
and every area.
Subscription price is very high as compare to other brand of
newspaper.
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ANALYSIS &FINDINGS
Q1: WHICH OF THE BUSINESS NEWSPAPER DO YOU PREFER?
1. BUSINESS STANDARD 3. ECONOMIC TIMES
2. FINANCIAL EXPRESS 4. BUSINESS LINE
5. OTHERS
Here we can see that Economic time has highest readers in all
business daily as 51% of people from my survey read only
economic time. This is because bundle offered by times of
India.
0
10
20
30
40
50
60
business standard economic time business line financial exp others
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Q2: SELECTION OF THIS NEWSPAPER IS DUE TO WHICH FACTOR?
1. PRICE 4. SUBS HAMPERS(GIFTS)
2. CONTENT 5. BRAND IMAGE
3. AVALIBILITY
Here we can see the most important factor while selecting a
business daily is content (31%) and second important thing is
price (27%).
0
5
10
15
20
25
30
35
price content brand image availiblity subs hampers
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Q3: WHICH OF THE FOLLOWING NEWSPAPER YOU HAVE READ & LIKED? PEASE RATE.
1. BUSINESS STANDARD ----------------
2. ECONOMIC TIMES ----------------
3. FINANCIAL EXPRESS ----------------
4. BUSINESS LINE ----------------
(PUT 1 STAR* FOR 1ST
RANK AND 4 STAR**** FOR 4TH
RANK.)
Here we can see ratings given by customers
o Economic time on 1st
rank with 59% votes
0
10
20
30
40
50
60
70
Business standard Economic time Business line Financial express
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o Business standard on 2nd rank with 35% votes
o Business line & financial express on 3% each
Q4: WHY DO YOU READ NEWSPAPER?
1. FOR GENERAL AWARNESS OR INFORMATION PURPOSE
2. BECAUSE OF PROFESSIONAL REQUIRMENTS
3. FOR INVESTMENT GUIDANCE
4. FOR JOB SEARCH OR CLASSIFIEDS5. BECAUSE OF COLLEGES COURSE STRUCTURE.
People read financial newspaper for investment purpose i.e. 47% I
can say that newspaper can help them for their market
option 1 option 2 option 3 option 4 option 5
0
5
10
15
20
25
30
35
40
45
50
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speculations and secondly people read newspaper for general
awareness i.e.32%.
Q: 5 HOW DID YOU COME TO KNOW ABOUT THIS NEWSPAPER?(BUSINESS STANDARD)
1. ADVERTISEMENT 4. FRIENDS
2. INTERNET 5. OTHERS
3. NOT AWARE
Brand awareness is very low as compare to its competitor
(economic time), here we can see that 19% readers are not awareabout business standard.
0
5
10
15
20
25
Advertisement Internet friends others Not aware
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Q6: WILL YOU PREFER THE SAME NEWSPAPER IF PRICE WILL INCREASE?
1. YES 2. NO
Here we can see that 69% of people believe in changing their brand
if price of newspaper will increase. Whereas 31% peoples are loyal to
the same brand.
YES NO
54
56
58
60
62
64
66
68
70
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ANALYSIS & FINDINGS
While surveying the market I came to know that most of the
business daily readers are reading Economic Times because of
the bundle offer with Times of India (TOI+ET= RS 990 Annually)
Whereas BS = RS 710 Annually
Business Standard is not having Sunday edition in the offer but
other business dailies like Economic Times and Financial
Express are having Sunday edition it is also effecting the mindsof consumer.
Investors are the majority users of Business Standard among all
the respondents, 47 % of Investors would like to read Business
Standard because Business Standard is a only business daily
which provide 12 pages supplement copy calling SMART
INVESTOR.
Brand awareness is very less.
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(as per my survey 19% readers are not aware about BS.)
CONCLUSION
As the objective was to find out the brand preference among the
business newspaper and to find out the attributes which influence
the consumer to purchase business daily. Here I would like to
conclude price and content of the newspaper place a vital role in
selection of brand of the financial newspaper.
As we seen in data collected by survey, the most important factor
while selecting a business daily is content (31%) and second
important thing is price (27%).
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On other side I found that subscription hampers (free gifts)
provided by company also matters much in choice of business
daily.
(As we all student of SIP from different institute made a history inBUSINESS STANDARD LTD. by selling more than 2,500 Annual
subscription in Mumbai only in 2 months.)
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RECOMMENDATIONS
At the current time Business Standard is not having Sunday
edition in a scheme but another business dailies like
Economic Times and Financial Express are having Sunday
edition and the customers of the Business Standard are
unhappy with this policy of the organization so that Business
Standard should start its edition on Sunday with some better
strategies than its competitors who is charging more on
Sunday edition.
The monthly add on given by BS is motoring magazine
instead of this they should provide magazine related to the
financial sector.
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They should concentrate more on brand awareness
program.
They should start Customer Relationship Management
department to maintain the relationship with the
customers.
They should again start gujarati addiction of newspaper.
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The students ofH K INSTITUTE OF MANAGEMENT STUDIES & RESEARCH are conducting this survey as a
part of their project in field of consumer behavior. The primary objective of this survey is to know
criteria used by the consumers in selection of brand of financial newspaper
Kindly spare few minutes and help us by answering these questions.
NAME: DATE:
AGE: OCCUPATION:
Q1: WHICH OF THE BUSINESS NEWSPAPER DO YOU PREFER?
3. BUSINESS STANDARD 3. ECONOMIC TIMES
4. FINANCIAL EXPRESS 4. BUSINESS LINE
Q2: SELECTION OF THIS NEWSPAPER IS DUE TO WHICH FACTOR?
4. PRICE 4. SUBSCRIPTION HAMPERS(GIFTS)
5. CONTENT 5. BRAND IMAGE
6. AVALIBILITY
Q3: HOW DID YOU COME TO KNOW ABOUT THIS NEWSPAPER?
4. ADVERTISEMENT 3. FRIENDS
5. INTERNET 4. OTHERS
Q4: DO YOU BELIEVE THAT CONTENT QUALITY MATTERS IN SELECTION OF NEWSPAPER?
1. YES 2. NO
Q5: WHICH OF THE FOLLOWING NEWSPAPER YOU HAVE READ & LIKED? PEASE RATE.
5. BUSINESS STANDARD ----------------
6. ECONOMIC TIMES ----------------
7. FINANCIAL EXPRESS ----------------
8. BUSINESS LINE ----------------
(PUT 1 STAR* FOR 1ST RANK AND 4 STAR**** FOR 4TH RANK.)
Q6: WHY DO YOU READ NEWSPAPER?
6. FOR GENERAL AWARNESS OR INFORMATION PURPOSE
7. BECAUSE OF PROFESSIONAL REQUIRMENTS
8. FOR INVESTMENT GUIDANCE
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9. FOR JOB SEARCH OR CLASSIFIEDS
10.BECAUSE OF COLLEGES COURSE STRUCTURE.
Q7: DOES NEWSPAPER HELP YOU IN YOUR MARKET DECISION / SPECULATIONS?
1. YES 2. NO
Q8: WILL YOU PREFER THE SAME NEWSPAPER IF PRICE WILL INCREASE?
2. YES 2. NO
Q9: WOUD YOU LIKE TO SWITCH OVER TO ANOTHER BRAND?
1. YES 2. NO 3. MAY BE
Q10: WHY WOULD YOU LIKE TO SWITCH TO ANOTHER BRAND? PLEASE SPECIFY..
------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------
(Q11. IS ONLY FOR NON BUSINESS STANDARD READERS)
Q11: ARE YOU INTERESTED IN AVAILING THE ANNUAL SCHEME OF BUSINESS STANDARD?
1. YES 2. NO
THANKING YOU!! FOR BEING PART OF MY SURVEY AND ALSO TO CO-OPRATE WITH ME
CHIRAG J PARMAR
(CELL: 08976105135)
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BIBLIOGRAPHY
http//www.business-standard.com. prducts/info/magazine/bsp
http//www.smartinvestor.in.history/bsi
http://www.business-standard.com/http://www.smartinvestor.in/http://www.smartinvestor.in/http://www.business-standard.com/Top Related