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Project Guide: Prof. Parnika Jha Submitted by Bharat M Malukani Roll No.36 Submitted to:
July 2011
S.K.PATEL INSTITUTE OF MANAGEMENT & COMPUTER STUDIES 1
CERTIFICATE
This is to certify that Mr. Bharat M Malukani of S.K.Patel Institute of Management & Computer Studies, Gandhinagar has submitted his summer Project titled consumer perception towards financial daily in the year 2011-2012 in partial fulfilment of Kadi Sarva Vishwavidyalaya requirements for the award of the title of Master of Business Administration
Director
Coordinator
Project Guide
Date:
DECLARATION
I, hereby, declare that the summer internship project, titled consumer perception towards financial daily is original to the best of my knowledge and has not been published elsewhere. This is for the purpose of partial fulfilment of Kadi Sarva Vishwavidyalaya requirements for the award of the title of Master of Business Administration
PREFACE
The amount of knowledge in the world is increasing day by day with the end of every it is now expected to double every time. So if I plan to be in this knowledge explosion means that I should be facing with unpredictable challenges and opportunities. How well I address that it would depend upon, in large part of our ability to adapt to the continuing changes. Project work like this gives an exposure to the practical and real life experiences of the modern market. Management education narrowly thought is a tool to train one to get a good job and hence enables one to earn ones livelihood. Management education broadly thought is a method, which inculcates knowledge in about Planning, Organizing, Directing and Controlling. Moral and Ethical aspect of corporate world also. This knowledge helps students to understand the corporate thoroughly. This management education is given a way using different means of learning and knowledge. A classroom study contains theory, case study and presentations. With it, we use library for secondary data of corporate and project work as a field study for the primary data sources. With it we have co-curricular and extra activity for the overall growth of the student. Practical study plays a vital role in the field of education. It has been introduced for the students to get the practical knowledge along with the theoretical knowledge; only bookish knowledge is not the right way of learning anything especially for the management students. How management principles are implemented in business can only be known through practical study, students can be very well aware about industrial environment like problem, opportunities , different situations etc. This helps the students to have a better understanding and also give them a chance to show their skills and ability. This summer internship (training) report is also a part of our study.
ACKNOWLEDGEMENT
It is almost inevitable to incur indebtedness to all who generously helped by sharing their invaluable time and rich experience with me, without which this project would have never been accomplished. No task can be achieved alone, particularly while attempting to finish a project of such magnitude. It took many special people to facilitate it and support it. Hence, I would like to acknowledge all of their valuable support and convey my humble gratitude to them. I would like to thank PROF. PARNIKA JHA for her guidance throughout the preparation of the project and for her valued suggestion. I express my sincere thanks to the management of MINT-HT MEDIA for giving me this golden opportunity to work as a trainee in their company. The guidance and support provided by the company have really made the training a learning experience for me. This short period was full of rich experience, which will definitely help me in my future career. First of all, I would like to thank Mr.JIGNESH BHATT (AGM of MINT-HT MEDIA- GUJARAT) and Mr. HEMANG GHANDHI (Deputy Manager) and other staff member for their valuable guidance and encouragement. At last I would like to thanks all of them who have given their valuable support in completion of this project report.
BHARAT M MALUKANI
EXECUTIVE SUMMERY
Newspaper is a product which is required by all. Delay in the distribution can cause many problems to the readership figures. It is a product which looses its value as day goes on. It is a product without which a day cannot start. So delivery of newspaper on time is very crucial for any company. MINT is a financial daily published from Monday to Saturday. It covers most of the sector and industry news. It also provides some very important news and tips regarding stock market which is helpful to the investors and stock brokers. The report analysis on Consumer Perception towards Financial Daily the survey used the method of questionnaire to gauge the consumer response. The findings from the data collected so far brings forth a positive response for the MINT brand. This leads to a potential market for the same. Although the people are aware about the product but still it seeks some more improvements. So in short if I want to summarize my Project Report in this then, MINT has good opportunity to develop in the market because very few people are aware about MINT. From the survey we came to know that The Economic Times is the leading financial daily. So MINT has to come up with some new events or sales promotion activities to be leader. Overall my 8 weeks at MINT were a perfect training experience where I have learnt many things like convincing the people, tackling the customers, handling the pressures, following up the customer, many more marketing strategies and tactics.
TABLE OF CONTENTS
CH. NO 1 2
CONTENTS
INTRODUCTION 1.1 Introduction to the Project. RESEARCH METHODOLOGY 2.1 Objective Of Research 2.2 Source Of Data 2.3 Data Collection Method 2.4 Data Collection Tool 2.5 Contact Method 2.6 Sampling Method 2.7 Porter's Five Force Model 2.8 Swot Analysis 2.9 Evaluation Of Financial Dailies 2.10 Limitation Of The Study INDUSTRY PROFILE 3.1Print Media in India 3.2 Business Newspaper In India ORGANIZATION PROFILE 4.1 Name & Address of Organization 4.2 History 4.3 Birth Of Mint 4.4 Vision 4.5 Mission 4.6 Achievement 4.7 Award 4.8 Business Ethics 4.9 Collaboration Of Company 4.10 Product Portfolio 4.11 Departmental detail 4.12 Sales And Distribution 4.13 Hierarchy Of Mint In Gujarat THEORITICAL ASPECT OF STUDY 5.1 Consumer Perception DATA ANALYSIS AND INTERPRETATOIN RESEARCH FINDINGS RECOMMENDATIONS CONCLUSION BIBLIOGRAPHY ANNEXURE
PAGE NO.
8 9 11 12 12 12 12 12 13 13 16 17 18 19 20 22 23 24 24 26 27 28 28 28 29 29 30 32 35 38 39 39 40 52 53 54 55 56
5 6 7 8
CHAPTER-1 INTRODUCTION
This was the most challenging task in that two month we need to bring at least 50 annual subscription of mint, some of the customer interested in to newspaper content, quality, colour and some might be interested in price or gift.
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Secondary data is the data which is already available and collected by some other people for their purpose. In survey, secondary data is collected through website of the company, company office and through magazines. Primary Data: Primary data means data which is collected for the first time. For getting primary data I have conducted survey of 100 people from Ahmadabad & Baroda. 2.3 Data collection method: Survey
2.4 Data collection tool: Questionnaire QUESTIONNAIRE: The instrument I used for the research purpose was questionnaire. Questionnaire is consisting set of question because of its flexibility. The questionnaire is most common instrument used to collect the primary data. It needs to be carefully developed, fasted and debugged before they are administered on large scale. It includes two types of questions: Open ended question Closed ended questions
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2.6 Sampling Method: Sampling method means a technique which can be useful for select a respondents from target population. I used simple random sampling method in the survey of 100 Respondent at Ahmadabad and Baroda.
2.7 POTERS FIVE FORCE MODEL PORTERS FIVE FORCE MODEL ANALYSIS
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MODEL ANALYSIS
Porter's 5 forces analysis is a framework for the industry analysis and business strategy development developed by Michael E. Porter of Harvard Business School in 1979. It uses concepts developed in Industrial Organization (IO) economics to derive 5 forces that determine the competitive intensity and therefore attractiveness of a market. 1. The threat of substitute products: T.V. Media Magazines Internet Seminars and lectures of experts
What can the factor of substitute product? 1. Buyer propensity to substitute 2. Relative price performance of substitutes 3. Perceived level of product differentiation 2. The threat of the entry of new competitors Profitable markets that yield high returns will draw firms. The results are many new entrants, which will effectively decrease profitability. Unless the entry of new firms can be blocked by incumbents, the profit rate will fall towards a competitive level (perfect competition). economies of product differences brand equity capital requirements access to distribution leaning curve advantages
3. The intensity of competitive rivalry The Economic Times Business Line Financial Express Business Standard
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Factors to be considered : number of competitors rate of industry growth exit barriers diversity of competitors informational complexity and asymmetry level of advertising expense Economies of scale Sustainable competitive advantage through improvisation
4. The bargaining power of customers:Bargaining leverage, particularly in industries with high fixed costs Buyer volume Buyer information availability Availability of existing substitute products Buyer price sensitivity Differential advantage (uniqueness) of industry products
5. The bargaining power of suppliers:degree of differentiation of inputs presence of substitute inputs supplier concentration to firm concentration
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Can give an extra page New market entrants on Ahmadabad related news
Nominal price
Separate Money & Market section with 4 pages Exclusive partnership with The Wall Street Journal Over view of the whole week is given in weekend Provide general awareness in terms of investment.
Lack of staff
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N O.
PARAMETER
MINT
BUSINESS STANDARD
BUSINESS LINE
FINANCIAL EXPRESS
Price
Owner
K. K. Birla Group
Four pages
News
Business + General
Only Business
Business + General
Business
Publisher
HT media Ltd
6 7 8
28-32 White NO
24-28 Pink No
20-24 White No
18-20 Pink No
9 10
Easy 8 cities
Easiest 12 cities
Moderate 11 cities
Hard 14 cities
Moderate 10 cities
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2nd
3rd
1st
5th
4th
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Magazine, for the purpose of these guidelines, will be defined as a periodical publication, brought out on non-daily basis, containing public news or comments on public news. Foreign investment would also be subject to the Guidelines for Publication of Indian Editions of foreign magazines dealing with news and current affairs issued by the Ministry of Information and Broadcasting (I&B) on publishing/printing of scientific and technical magazines/specialty journals/periodicals, 100 percent FDI is permitted under the government route.
The Indian Newspaper industry can be primarily segmented across two categories viz English Newspapers and Regional / Vernacular Newspapers. The English medium dominates the industry in terms of advertisement revenues, though vernacular newspapers outperform the English newspapers in circulation. English newspaper industry in India has been fragmented with the players having a regional focus such as the Deccan Chronicle in Hyderabad, Hindustan Times in Delhi, Times of India in Mumbai, Hindu in Chennai, Telegraph and Statesman in Kolkata, Deccan Herald in Bangalore, Gujarat Samachar in Ahmedabad. However, the industry is witnessing a trend whereby players are looking beyond their home territories viz. Times of Indias and Business Standards entry into certain newer territories and Deccan Chronicle and Hindustan Times also doing the same. A booming economy and the opportunity to raise funds from a well-developed financial market have also contributed to the growth of the newspaper industry in India. Indian newspaper industry had a turnover of Rs 13,500 crores in 2006. It is expected to touch Rs 15,500 crores. The size of media industry in India as a portion of the GDP is estimated at 0.7%, which is lower than most of the developed and developing nations. Thus it offers a scope of high growth in this industry moving forward. Advertising expenditure to GDP reveals that advertisement expenditure to GDP ratio in India is 0.4%. With rising income and education level in India, readership is expected to rise and with favourable demographics, advertising revenues will increase as advertisers start spending more to attract higher quality audience with more purchasing power. Newspaper publication is usually issued on a daily or weekly basis, the main function of which is to report news. Many newspapers also furnish special information to readers, such as weather reports, television schedules, and listings of stock prices. They provide commentary on politics, economics, and arts and culture, and sometimes include entertainment features, such as comics and crossword puzzles. In nearly all cases and in varying degrees, newspapers depend on commercial advertising for their income. Present scenario is that by the time, they see a newspaper, most people have already learned about breaking news stories on television or radio. Readers rely on newspapers to provide detailed background information and analysis, which television and radio newscasts rarely offer. Newspapers not only inform readers that an event happened but also help readers understand what led up to the event and how it will affect the world around them. The staffs of a large newspaper work under the constant pressure of deadlines to bring news to readers as quickly as human energy and technological devices permit. Reporters, photographers, artists, and editors compile articles and graphics S.K.PATEL INSTITUTE OF MANAGEMENT & COMPUTER STUDIES 21
sometimes in just a few hours. Page designers assemble articles, photos, illustrations, advertisements, and eye-catching headlines into page layouts, and then rush their work to the printer. Newspapers as known today are complete with advertising and a mixture of political, economic, and social news and commentary. 3.2Business newspapers in India Publication of Business newspapers started in India by the launch of Economic Times on 5th march 1961. It has traditionally been the essential reference document on Indian business, polity, economy and finance. Its focus on the managerial component and evolving business in India and abroad makes it the favourite amongst intellectuals, managers as well as students and researchers, having recorded a staggering growth of 150% over the past few years. The Economic Times has emerged as the most widely circulated economic and business daily in the country and among the top three English financial dailies in the world. Business Standard was started in 1975 by the Ananda Bazaar 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, after which it began a phase of rapid expansion with the launch of new editions. The Financial Times of London took an equity stake in BSL in 2004. Business Line or The Hindu Business Line is an Indian business newspaper published by Kasturi and Sons, publishers of The Hindu newspaper. Business Line started publishing in 1994. It is India's youngest business newspaper and also the country's second largest selling, with a circulation of one lakh copies, next to the Economic Times. Financial Times entered into the market after Business Line, so did the Hindustan Times, Mint and Financial Chronicle which is the youngest of the lot.
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AHMEDABAD OFFICE
315, Dev Nandan Mall, Opp. Sanyas Ashram, Nr. M.J. Library, Ashram Road, Ahmadabad.
Hindustan Times
HT Media found its beginning in 1924 when its flagship newspaper, Hindustan Times was inaugurated by Mahatma Gandhi. HT Media (BSE, NSE) has today grown to become one of India's largest media companies. Produced by an editorial team known for its quality, innovation and integrity, Hindustan Times (English newspaper) and Hindustan (Hindi newspaper through a subsidiary Hindustan Media Ventures Limited) In addition to Hindustan Times, HT Media also publishes a national business newspaper, Mint. Mint is a one-of-its-kind newspaper in the sense that the company has an exclusive agreement with The Wall Street Journal to publish Journal-branded news and information in India. Mint is today the second-largest business newspaper in India with presence in the key markets of Delhi, Mumbai, Bangalore, Chandigarh, Pune and now Kolkata too now available in Ahmadabad also. The group has diversified itself across different media to access consumers and businesses. Hindustan Times, the flagship publication of the group, inaugurated S.K.PATEL INSTITUTE OF MANAGEMENT & COMPUTER STUDIES 24
by Mahatma Gandhi in 1924, is a name to reckon with in today's times. It is ensconced in the minds of people as a newspaper of editorial excellence and integrity. HT Media launched a national business newspaper Mint, in February 2007 with an exclusive agreement with Wall Street Journal to publish Journal-branded news and information in India. As part of its aggressive growth strategy and endeavours to build a robust Internet business, HT Media has launched Firefly eventures, recognizing the importance of Internet as the most important media vehicle of the future. Firefly has acquired a social networking site Desimartini.com, and has launched its first portal - Shine.com for jobseekers and employers, in an attempt to establish its presence in the internet space. The group's news portal HindustanTimes.com, with over 2 million unique visitors and 100 million page views per month, is one of the largest news portals in the country. It has consistently been ranked amongst the top 10 news sites in the world by Forbes and offers in-depth coverage and analysis to its users. The business news website, www.Livemint.com, covers business and related news in India as well as across the world. Livemint.com is the integrated offering with Mint. Livemint.com combines the editorial strength of Mint with a best-in-class web interface and a selection of online tools that aid the users to stay on top of the developments in the business world as well as help them with investments. The overall objective is to create a strategic platform wherein different companies can come together and benefit with the synergies of partnering with each other. The group has also been highly active in programs with school children through PACE (Partnerships for Action in Education) HT-PACE- a trusted partner of schools, continuously endeavors to add value to education and a new dimension to classroom teaching. A front-runner of all NIE initiatives of the country, PACE has made the newspaper an integral part of a childs curriculum, bringing about significant value addition in and around the editorial product. MINT is the country's most respected business daily, being the first choice of serious business readers. It is published in color from 8 centers in India - Mumbai (formerly Bombay), New Delhi, Kolkata (formerly Calcutta), Bangalore, Chennai (formerly Madras), Ahmadabad, Chandigarh, and Pune. The newspaper believes in free, fair and independent journalism and strives to inculcate these values in its editorial staff. The journalism practiced by MINT lays equal stress on quality, credibility and accuracy.
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MINT has the country's best economic journalists and columnists working for it. It is edited by R. SUKUMAR, perhaps Indias best-known business journalist, who had earlier undertaken a complete and highly successful revamp of The Economic Times and was responsible for its phenomenal growth.
It has been almost a year in the making. And as the D-day neared, HT Media made sure that the title of its business daily was the best kept secret in town. At an unveiling ceremony in New Delhi on Tuesday evening, the cat was finally allowed to step out. Mint is all set to roll out on Thursday morning, February 1, 2007, simultaneously from Delhi and Mumbai. The mint brand and logo were unveiled in Delhi by HT Media Vice Chairperson, Shobhana Bhartia, and Christine Brendle, Asian Managing Director of The Wall Street Journal on January 30. Also on stage was the papers designer Mario Garcia, the world-renowned newspaper designer. The Wall Street Journal is mints exclusive partner. The business daily will be available six days a week, though the possibility of coming out with an edition on Sunday isnt ruled out depending on the reader response. The paper has been priced at Rs 2. mint is being launched in a unique Berliner size that will bring, for the first time to discerning readers in India, a globally proven, convenient format.
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4.4 VISION
To stand at a respectful position in this competitive marathon and also to keep up the pace of the changing needs of their value readers. To win more and more readers to their cause. Courage To encourage the ability that meets opposition with skill, competence and fortitude. Responsibility Be accountable for results in line with the companys objectives, strategies and values. Empowerment Support our people and give them the freedom to perform and to provide our readers with information to influence their environment. Continuous Self Renewal Determination to the constantly re-examine and re-invent ourselves for further innovation and creativity. People Centric People are our greatest asset. We invest in them expect a lot and know that the rest will follow Values HT Media A rich heritage to live up to! Organizational values are the foundation stones on which the organizations image is built. These help the company realize its organizational goals and in turn transform lives. These values are intended to infuse an infectious energy, professionalism and a sense of true empowerment to the workplace
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4.5 MISSION
The mission is to create space for the market share of MINT by tapping the uncovered market and by taking bites from competitors market share. Getting the benefits of the paper to be known to the market.
4.6 ACHIEVEMENTS
Mint in IRS Q1 2010 No. 2 business daily nationally
Average Issue Readership (AIR) is the readership measure used in this presentation AIR measures Read Yesterday and is an accurate measure from an advertisers point of view
Mint in IRS Q1 2010 - Highlights Mint is the Clear #2 business daily in the country 24% markets share covered by Mint Mint has increased its lead and now has 27,000 more readers than Business Standard Chennai and Kolkata editions yet to be picked up #1 in Bangalore 20,000 readers reiterate Mint as the largest business daily in the city 7,000 more than ET
4.7 AWARD
K C Kulish International Award Hindustan Times won K C Kulish International Award for journalistic efforts towards Human Development, instituted by Rajasthan Patrika. This came for a series done on changes in the Muslim community The New Muslim: From masjid to market, a journey. Neelesh Misra, Sunita Aron, Samar Halarnkar and Rajeev
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Mukherjee reported the series The same jury also recognized two other series of stories by the Hindustan Times for special mention: India Besieged by Neelesh Misra Nagendar Sharma War Torn by Kuldeep Maan & his team in Chandigarh.
JOINT LOGO
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Provides magazine free monthly: MINT MONEY GUIDE Provides magazines free weekly: LOUNGE Editions from Monday to Friday have a main edition of about page with coloured pages in front and the rest are in black and white. The following areas are focused: National and International news Economy and Policy news Infrastructure news Companies news S.K.PATEL INSTITUTE OF MANAGEMENT & COMPUTER STUDIES 30
Editorial pages Crossword Education News Business law Govt. policies & Regulations
Section II is the MONEY AND MARKETS Stock market news Money and currencies Metal and intermediates news Commodity news Share prices in alphabetical order Mutual fund and Insurance
ABOUT SUPPLEMENTS
MONDAY - FRIDAY: MINT MONEY Past weeks analysis of stock markets Primary markets Secondary markets Future tip for trading in shares Issues related to stock market Theories and practices of business management. Brand related news
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MARKET DEVELOPMENT DEPARTMENT / CIRCULATION DEPARTMENT This department is responsible for the circulation of the newspaper in the whole region. This department also looks after the daily back room operations which include giving print orders for the regular supply of subscription, complementary copies and sponsored copies are also being distributed by this department. They also check the dispatch and payment received for the month. And also looks forward to expand the market of the newspaper by adding more customers to its list. They are the people who not only think about selling the newspaper but also how to promote it. SPACE MARKETING DEPARTMENT It is the major source of revenue generation for any media industry. Because the actual cost of the newspaper goes up to 18/- to 20/- Rs. And sold at Rs. 3/-.So the advertisements are the medium to compensate for the cost generated. I was taught about the marketing department contact different corporate for advertisement and the channel through which the advertisement comes and are prepared and how the space is allotted depending upon the space given by the editorial department. There is an agent in between the client and the publisher, which helps in making the arrangements of ads. How this media get advertisement from clients? Actually this media have their agents who collect contract from the clients and then these agents decide what the expectation of client is; and on that bases agent selects any media. Advertisement is generally designed by agent but only circulated by media. But sometimes media also design some advertisement, but they get client from only agents. EDITORIAL DEPARTMENT Editorial department is considered as the backbone of the print media because without any good matter to publish and which is not edited nicely it is just a crap for the readers. Readers want to have the columns with good matter, so without having an effective and efficient editorial team no newspaper can grow. This department collects the news mainly from the News Agencies and they have their own network to publish the articles too. The news can be by telephone, fax or through internet or other communication medium. This news is edited and then sends to Mumbai and Delhi for the adjustment. SCHEDULING DEPARTMENT This department deals with the scheduling of the edited matter and the advertisements. It is the work of this department to adjust and frame the edited matter with the advertisement, by allotting the empty space to advertise, which matter and advertisement should be in which page is the looked out by scheduling people.
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SYSTEMS DEPARTMENT The systems department is responsible for communication network as well as all the technical related problems in the company. . PRODUCTION DEPARTMENT After receiving the facsimile copy on the butter paper from the systems department, the work of production department starts. This butter copy is framed on the aluminium plate. This plate is then fixed in the printing machine and then as per the printing orders the printing starts. Machine which is used for the production is known as Film Processor which costs approximately Rs. 2.5 lakh. The machine is divided into four different units i.e. Developer Unit, Fixed Unit, Wash Unit, and Dryer Unit. Production Department is used mainly four colors for the hard copy, which are Black, Yellow, Cyan and magenta, orange manly. Some colors are used at the time of the final printing of the newspaper at press. Raw material for this department is paper and aluminum plate. Print comes in the form of reel. DISPATCH DEPARTMENT Dispatch department is responsible for the regular dispatch of the total number of copies at various destinations at the right time. It is also responsible for no. of copies to be delivered at each center i.e. local or upcountry. The distribution at these centres is very important to be on time. Even the commission has to be taken off. There are also two other departments without which the company cannot run smoothly. Those are departments without which any firm is incomplete .i.e. the Financial Department and Human Resource Department FINANCIAL DEPARTMENT This department is responsible for all the financial matters. Matters are related to employees salary, operational expenses and other sundry expenses. It is also responsible for the reducing the cost of the publication. HUMAN RESOURCE DEPARTMENT This is the department responsible for the HR supply in the company. For MINT, this department is not in Ahmedabad, but it is in New Delhi. It means that the MINT has a centrally located HR department who takes care of the supply in any of the branch. All these departments identify the need of the customer i.e. the quality and pricing demanded by the customers. In this industry this strategy is very important as the selling price of the newspaper is always less than its cost of production. The main reason for this type of pricing is to create awareness and generate reading behavior amongst the audience of the newspaper. S.K.PATEL INSTITUTE OF MANAGEMENT & COMPUTER STUDIES 34
Pre-press activity involves all the editorial departments work where they have to collect the news and it has to be given to the production department in a prescribed limit. This time limit is said as the cut off time or releasing time. Post-press activity is the distribution. MINT has divided Gujarat in two main sections, i.e. Ahmadabad and upcountry market. This upcountry market has about 7 centres. MINT gets involved in many kinds of sale activity. They are: Subscription Sale : A one year subscription by paying fixed amount is sale by subscription Cash Sales: Customers when paying the amount to purchase a newspaper directly to the book stall in cash then the sale is said to be a cash sales.
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Line Sales Line sale is the in which it is post paid billing. When the customer gets the MINT copy through the vendor and pays in the end of month, it is line sale Institutional Sales Few corporate, hotels and colleges take copy in bulk, which is said to be as institutional sale. MINT has the responsibility till the delivery at their doorstep and further distribution is on the company or the institution concerned Corporate Sales In corporate sales, executives have to do cold calling or they have to take appointment from the concerned person and then after meet, executive must convince the client. If it is big corporate and staff are such that, they read financial daily at their home, then for bulk subscription they have to try.
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DISTRIBUTION
Distribution is exactly for maintaining the brand equity in the market. The promises which were made to the customers can be fulfilled by the proper channel and the right time delivery of the newspaper.
Raw Material
Printing Press
Ahmadabad
Vendors
Bookstalls
Hawkers
Hawkers
Readers
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CHAPTER-5
THEORETICAL ASPECT OF STUDY
CONSUMER PERCEPTION Perception can affects consumer decision making directly and indirectly. The perception may include as an attribute in decision making or influence other attributes in the process. The mere fact that a brand is perceived as successful on a global stage may lend credibility and respect. People look at the world and see things differently. Even when presented with same object, two people may view it in two different ways. Their view of their objective environment is filtered by perception, which is the unique way in which each person sees, organise, and interpret things. People use an organised framework that they have built out of a lifetime of experience and accumulated values. People my find themselves In different physical settings, time period, or social surroundings. Whatever the reason they tend to act on the basis of their perceptions. In the survey of 100 respondents I found that people has different perception on the basis of their perception they want different things from the company for example some of the respondent consider information as first aspect, some consider price as first aspect and some consider gift as first aspect. In the same way people demand different supplementary from the company on the basis of their perception.
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CHAPTER-6
DATA ANALYSIS AND INTERPRETATION
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Interpretation: Through this graph we can interpret that the preference of newsreaders is more towards Economic Times than others i.e., 31% and respectively the acceptance of MINT is of 22%, after that comes Business Standard which is having the preference of 19%, then comes the Financial Express with a total of 16% of preference, where as other newspapers like Business Line, DNA Money, Chanakya, comprises of 8% of preference.
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By what level you are satisfied with your current newspaper reading?
LEVEL OF SATISFACTION
50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 44% 12% 23% 16% 5% LEVEL OF SATISFACTION
Interpretation: From this graph we can get that in the present scenario, the kind of business dailies that are present in the market out of 100, 44 people are satisfied, 12 are highly satisfied and 23 responded in a cant say situation and still there are around 16 who are not satisfied with the current pattern of the newspaper they are getting and still 5 persons are highly dissatisfied. There is still a market of around 44% to be tapped as it consist of those who are not bothered and those who are not satisfied with the present scenario of the business dailies in the state.
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What criteria you will consider while selecting Business Newspaper? (Rank 1 to 5)
DETAIL
BRAND VALUE INFORMATION PRICE SUPPLEMENTS GIFT WITH SUBSCRIPTION 3 1 2 4 5
RANKS
Interpretation: From the above table as shown that out of survey of 100 people, most of the people prefer 1st position as INFORMATION while selecting Business Newspaper, then comes the price aspect in mind of consumer and given PRICE as a 2nd position while later on BRAND VALUE taken into consideration by most of the business newspaper readers after that SUPPLEMENTS and at last GIFT WITH SUBSCRIPTION.
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DETAIL
CAPITAL MARKET 3
RANKS
ECONOMY
FINANCIAL
CASE STUDY
EMPLOYMENT OPPORTUNITIES
ADVERTISEMENT
Interpretation:
From the above table we can interpret that people want financial news as first aspect than they want economy news after they give preference to capital market news and there after comes case study, employment opportunities and advertisement..
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OPTIONS
INTERNATIONAL (IN %)
NATIONAL (IN %)
60% 65% 65%
DOMESTIC (IN %)
20% 20% 5%
A B C
20%
15% 30%
Interpretation:
In todays new era it is required to know that what should be the ideal format of Business daily? We got an answer by survey, 45% of the people prefer A option, 33% of the prefer B option while 22% of prefer C option. It means that most people prefer 20% international news, 60% national and 20% domestic news.
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Interpretation:
The intention behind this question was to know that what kind of extra supplement the readers would like to have apart from main copy. We found out that the supplement for portfolio management preferred by 18% of the people surveyed. The supplement covering industrial news preferred by 17% of the people. From the graph we can interpret that different people want different supplementary according to their requirement.
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31% 24%
Interpretation: From the above graph we can interpret that 31% of the people want sports news, 26% of the people want political news, 24% of the people want cultural news and 19% of the people want tax & legal advice news from the business daily.
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Interpretation: From the finding we came to know that the traditional yellow colour of the paper is one of the hindrances to the people who read the business daily. There are more than 50% of the readers who believes that the yellow colour of the paper with black letter sometimes causes pain in the eyes and also they are not able to read the paper more than an hour at a stretch so they want to change the traditional yellow colour pages.
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Price
11% 22% 38%
29%
Interpretation:
Price of the commodity is one of the important aspects to decide whether to purchase or not. In the survey i found out that people were price conscious 38% of the people were agreeing on the price to be Rs.2.5 .From the population survey 29% people were ready to purchase news paper at Rs. 3. while 22% were not having problem if the price is Rs. 4.
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Interpretation:
From the above question we concluded that 62% of the people were subscribed newspaper through vendor. Whereas, 38% found people subscribed newspaper through subscription. The reason for this is people are not sure that they will get the newspaper whole year or not and delivery problem also one of the reason.
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Switchers
9% 38%
53%
Interpretation: In the survey I met with the people who are in no mood to switch over any other newspaper as they are habituated with their current reading they constituted 53% of the people surveyed. There are 38% of the people surveyed who were ready to switch over to other newspaper if they are provided the information they require in a business daily. While 9% of people are not ready to say anything, they first analysis the problem than want to take decision.
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CHAPTER-8 RECOMMANDATIONS
From the study carried out and the analysis of the result obtain from the survey; the following recommendations can help the firm to improve its performance. Add the news on IT and Information in much more detail Increase the number of centres from where the newspaper is available Add listing for Small script Give more job related advertisements Come up with new creative advertisements Build proper positioning in the minds of the readers Give certain small vouchers package at the time of Diwali or any other festivals. Service check calls at regular intervals. Make some events with corporate to spread awareness of MINT. Collaborate with B-schools to provide copy of MINT daily at their home. MINT should increase number of supplements.
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CONCLUSION
Through the project I got the more information about the print media industry and mostly about the mint the financial daily of Hindustan times. I came to know what the people think about the different financial daily. And what their perception about the company. They are making the decision on the basis price, quality of paper, brand name of the company. From the survey I came to know that most people give their more preference to economic times so mint need to improve its product content in Gujarat to get the more reader. Practical knowledge is as important as theoretical knowledge. The purpose of this report is to get an idea about various aspect of marketing management and also to get the knowledge about the market research. The project report has taught us the importance of hard work, team work, and enriched our communication skills. While making this report, I came to know about what market research is, I came across the many people, and came to know about their choice, thinking, their knowledge, and their mind set. The important point was extracting as much information as possible which helps me to improve my potential.
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BIBLIOGRAPHY
Book References Marketing Management : Philip Kotler Kevin Lane Keller Abraham Koshi Mithileswar Jha Publisher : Mc.Graw Hill Publication Edition : 13th
Author
Web References http://www.htmedialtd.com http://www.livemint.com http://www.battery.com/content/news/Charger/Nove: The Indian media Industry detail
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ANNEXURE
RESEARCH ON CONSUMER BEHAVIOUR TOWARDS NEWS PAPER (FINANCIAL)
1. Do you read any Business Newspaper? Mint Financial Express Economic Times Business Standard Business Line 2. By what level you are satisfied with your current newspaper reading? Highly dissatisfied Dissatisfied Cant say Satisfied Highly satisfied 3. What criteria you will consider while choosing Business Newspaper? (Rank 1 to 5) Brand value Information Price Supplements Gift with subscription 4. What kind of Business News do you want? (Rank 1 to 6) Capital Market Economy Financial Case study Employments Opportunities Advertisement Other (please specify) 5. What should be the ideal format of Business news in newspaper? International National Domestic (%) (%) (%) 20 60 20 15 65 20 30 65 5
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6. What kind of Supplement do you want from Business newspaper? Educational Agriculture Industrial Portfolio Management Capital Market Tourism/Traveller Export/Import Advertising & Marketing 7. What other news do you want from Business newspaper? Political Cultural Sports Tax & Legal Advise Other (please specify) 8. What do you say about traditional yellow colour of business newspaper? Change It No Change 9. What price do you expect for business newspaper? Rs. 2.5 Rs.3 Rs.4 Other (Please Specify) ______________ 10. How do you subscribe your news paper? Through vendor Through subscription 11. What are you expecting at the time of subscription? (Rank 1 to 5) Price Discount Gift Lucky Draw Coupon Free Magazine 12. If MINT meets your requirements would you like to switch over your business daily? Yes No Cant Say
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PERSONAL INFORMATION Name: Age: (1) 18-27 (2) 28-37 (3) 38-47 (4) 48-57 (5) 58 or above
Occupation:
(1) Service (2) Businessmen (3) Stock Brokers (4) Students (5) Others (1) Male (2) Female
Gender:
Monthly Income: (1) <10000 (2) 10001-15000 (3) 15001-20000 (4) 20001- 30000 (5) above 30000
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