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A Summer Project Report On

Understanding the reading habit of financial readers

Submitted to: Business Standard Limited & Vivekananda Education Societys Institute of Management Studies & Research Post graduate diploma in management (PGDM) Programmed (Batch-2011-13) Project Guided By:Dr. Sanchita Chandra Submitted By: Parmeshwar.m.upadhyay Roll no 38

DECLARATION

Myself PARMESHWAR MAKARDHWAJ UPADHYAY student of PGDM from VIVEKANAND EDUCATION SOCIETYS INSTITUTE OF MANAGEMENT STUDIES & RESEARCH Hereby declare that the project work on Business Standard Ltd presented in this report is my own work and has been carried out under the supervision of Dr. Sanchita Chandra. My report is submitted as part of study curriculum and as a partial fulfillment of the degree of PGDM. I am also declaring that I am submitting this report on the training at Business Standard Ltd regarding project study on the various activity of the market and studying the criteria of selection of financial daily. I guarantee that this project report has not been submitted for the awards to any other university for degree, diploma or any other such prizes.

Date Place

Parmeshwar.m.upadhyay
Signature

PREFACE
. Understanding the reading habit of financial readers is referred as which part of

financial news paper is most like by financial readers. Many readers they have some specific page or part in which they are very keen interested. Such as in ECONOMIC TIMES readers like to read the part such as CORPORATE, CAREER OF BUSSINESS LIFE, MARKET+FINANCE, COMMODITIES, STOCKS, ETC. it depends on the person or personality of reader. If he is investor he will most prefer to read STOCKS OR MARKET+FINANCE part. As in BUSSINESS STANDARD NEWS PAPER readers get each and every knowledge about MARKET, FINANCE & BUSSINESS also. So it is the best financial paper for readers such as INVESTORS, SHAREHOLDERS, BUSSINESS PERSONALITY, ETC.

In this modern era of business, Financial Newspaper plays an important role. It provides various information to the consumer regarding banks, share market, bonds, political issues, economic policies & other financial news. This information is used by the consumer in making certain decision. Thus, to provide the news according to the need of the consumer, to know the consumers behavior is very important activity for the marketers. The following report is the study of consumer behavior who is reading financial newspapers. The research takes us stepwise from the present and finding for the future. The recommendation rest on the basis of research work done and conclusion derived there off. To add to this, various graphs, frequency table, etc. have been added. Further, this analyses tray to bring to fore how the face of newspaper market is changing in India and how the customer is finally getting current information and service form market respondent. Thought this report, we summarize that we have strived to perfect ourselves in the best possible manner to report our research systematically and ethically.

ACKNOWLEDGEMENT

I student of VIVEKANAND EDUCATION SOCIETYS INSTITUTE OF MANAGEMENT STUDIES & RESEARCH is very sincerely thankful to Madhav sir who gave his valuable guidance to carry my project in a best way and giving me the much needed support and full cooperation for my report. I would like to thank my project guide Dr. Sanchita Chandra who helped me in the project and also I like to thank other staff member of Business Standard who has shown their cooperation. I would like to extend my gratitude to VIVEKANAND EDUCATION SOCIETYS INSTITUTE OF MANAGEMENT STUDIES & RESEARCH for giving me the opportunity to increase my practical knowledge in the field of Consumer Behavior. I also thank all the professors and staff of the Institute for their valuable guidance and help throughout the project. Last but not least, I am also thankful to all the people who helped me directly or indirectly in making this project report successfully.

EXECUTIVE SUMMARY

Understanding the reading habit of financial readers is referred as which part of

financial news paper is most like by financial readers. Many readers they have some specific page or part in which they are very keen interested. Such as in ECONOMIC TIMES readers like to read the part such as CORPORATE, CAREER OF BUSSINESS LIFE, MARKET+FINANCE, COMMODITIES, STOCKS, ETC. it depends on the person or personality of reader. If he is investor he will most prefer to read STOCKS OR MARKET+FINANCE part. As in BUSSINESS STANDARD NEWS PAPER readers get each and every knowledge about MARKET, FINANCE & BUSSINESS also. So it is the best financial paper for readers such as INVESTORS, SHAREHOLDERS, BUSSINESS PERSONALITY, ETC.

The research takes us stepwise from the present and finding for the future. The recommendation rest on the basis of research work done and conclusion derived there off. To add to this, various graphs, frequency table, etc. have been added. Further, this analyses tray to bring to fore how the face of newspaper market is changing in India and how the customer is finally getting current information and service form market respondent. Thought this report, we summarize that we have strived to perfect ourselves in the best possible manner to report our research systematically and ethically.

Index
Chapter No Sec-1 INDUSTRY OVERVIEW Sec-2 History Of Print Media Newspapers: A Brief History Competitors Organisation profile Vision And Mission Organizational Hierarchy Product Portfolio 8 11 15 16 17 18 20 27 PARTICULAR PAGE NO.

DEPARTMENT DETAILS Circulation Department Space Marketing Department Editorial Department Scheduling Department System Department Production Department Dispatch Department Financial Department

Human Resource Department


SWOT Analysis 7s Formwork ABC (Audit Bureau Circulation) 32 33 35

Sec-3 A

Sales And Distribution RESEARCH WORK RESEARCH METHODOLOGY Research Objectives Limitation Target Audience Sampling Method & Size Data Collection Questionnaire Form Questionnaire Survey

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B C D

DATA ANALYSIS AND DATA INTERPRETATION FINDINGS AND RECOMMANDATIONS

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SUGGESTION
LEARNINGS FROM THE SUMMER TRAINING BIBLIOGRAPHY 52 53

CHAPTER 1 Organizational Overview HISTORY OF PRINT MEDIA

History of print media and written communication follows the progress of civilization which, in turn, moves in response to changing cultural technologies. The transfer of complex information, ideas and concepts from one individual to another, or to a group, underwent extreme evolution since prehistoric times. It has been 30,000 years later since the first recorded evidence of written communication and it is still dramatically changing. Nowadays perhaps faster than ever before due to amazing advances in technology in recent years. Technical breakthroughs alter the way we perceive the universe and manner in which we communicate with one another. As long ago as 25,000-30,000 years B.C. first humans painted descriptive pictures on cave walls. The narrative compositions left on the walls of Lascaux represented their own way of communicating with the spiritual world and another. The well-preserved drawing depicted their deep religious beliefs, fears, and everyday life. The pictorial type found in caves of Southern France and Spain is the beginning of written communication for the human kind. In early 19th century the industrial revolution brought major innovations in printing technology. In 1810, Friedrich Koenig applied steam power to printing press. Rotary steam presses replaced hand operated machines, doing the same job in a small fraction of the time. Typesetting was transformed by the introduction of line-casting machines; first Ottmar Mergenthalers Linotype (1889), and then the Monotype machine. Line casting allowed type be chosen, used, and then re circulated back into the machine automatically.
The age of industrial revolution made transfer and interchange of written information between cities as well as continents readily available. In 1831 Joseph Henry invented the first electric telegraph, four years later in 1835 Samuel Morse Formulated Morse code, and then in 1843 he also produced the first long distance electric telegraph line. At the same time, Alexander Bain patented the first fax machine. In 1867 Thomas Edison patented his

9 mimeograph, which was the first office-copying machine, which might inspire Chester Carlson, almost a century later; to invent the photocopier machine. Business life was irreversibly changed with in the introduction to the market of Remington typewriter (1874). Journalism also became more accessible when in 1914 Howard Krum introduced Teletype. Knowledge of Morse code was no longer needed to distribute information. Nowadays, the print industry goes through a dry spell. Printing becomes increasingly more expansive. To combat with this problem the industry increased use of digital printers that can efficiently produce high quality paper books on demand. CAP Ventures predicted that within five years, 80% of all print will be ordered via www. This created new model of publishing- so called e-publishing (on demand). The printed book is currently under attack by e-book. Present e-books are handheld devices in which books can be downloaded in a file form and read on a backlit screen using buttons to maneuver through text. There have been also experiments with on-line book distribution by Stephan King, David Saperstein, Mary Higgins and others authors.

The Indian entertainment and media industry is expected to grow at 18% compound annual growth rate (CAGR) and reach a projected size of Rs 1,00,000 crore by 2011 from its present size of Rs 43,700 crore (for CY06), according to the 2007 edition of FICCI Price water house Coopers (PWC) annual report on the Indian entertainment and media Industry. The report states that the industry grew at 20% over the 2005 figure which was Rs 36,400 crore. For 2004, the figure was Rs 31,100 crore. The key reasons behind the growth are technological advances, positive government initiatives in terms of policy and foreign investment, and energized initiatives by private media companies coupled with rising income levels and Indias robust economic growth-led consumerism. Information and broadcasting Minister PR Dasmunshi will release the report at the opening of the FICCI-FRAMES event on March 26 in Mumbai. Sectorally, the Internet advertising industry is set to post the highest CAGR of 43%, rising from its current size of Rs 160 crores to Rs 950 crores in 2010. The Television industry is projected to grow 22% CAGR from Rs 19,100 crore to Rs 51,900 crore by 2011. The move towards CAS/DTH is considered the major driver for this growth with subscription revenues set to take the segment to the projected heights. The buoyancy of the

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Indian economy will drive the homes, both in rural and urban (second TV set homes) areas to buy televisions and subscribe for the pay services, the report said. The film and entertainment sector is expected to grow by 16% CAGR from Rs 8,500 crore to Rs 17,500 crore. The major reason for this high growth rate is that the industry is increasingly getting more corporative, highlighted by public issues of several film production, distribution and exhibition companies, long term contracts between film production companies and directors/ actors and the fact that more than half of 2006s releases were by corporate rather than individual banners. The print media is expected to grow by 13% CAGR from Rs 12,800 crore to Rs 23,200 crore by 2011. Current estimates reveal that print medias reach in India has increased to 22 crore people. Print media is also the favorite segment for global investors with maximum foreign investment in this segment. The print media industry has much potential as 36.9 crore literate people in India are still not tapped by any publication, the report said.

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NEWSPAPERS: A BRIEF HISTORY

The newspaper as we know it today is a product born of necessity, invention, the middle class, democracy, free enterprise, and professional standards. Pre-history "newspapers" were one-to-one in nature. The earliest variation on a newspaper was a daily sheet published in 59 BC in Rome called Acta Diurna (Daily Events), which Julius Caesar ordered posted throughout the city. The earliest known printed newspaper was in Beijing in 748. In 1451, Johannes Gtenberg uses a press to print an old German poem, and two years later prints a 42-line Bible -- the significance being the mass production of print products, ushering in an era of newspapers, magazines, and books. By 1500, the genesis of a postal system can be seen in France, while book publishing becomes popular throughout Europe and the first paper mill can be found (England). Zeitung (newspaper) is a news report published in Germany in 1502, while Trewe Encountre becomes the earliest known English-language news sheet in 1513. Germany's Avisa Relation oder Zeitung, in 1609, is the first regularly published newspaper in Europe. Forty-four years after the first newspaper in England, the Oxford Gazette is published, utilizing double columns for the first time; the Oxford/London Gazette are considered the first true newspaper. The first North American newspaper, Public Occurrences Both Foreign and Domestic, was published in 1690 in Boston. The 1700s was a century in which market elements were created that encouraged the development of daily newspapers: rising literacy, the formation of nation-states, a developing postal system, and the proliferation of urban centers, a rising literary and philosophical tradition emphasizing democratic involvement in government, and technologies that supported newspaper production. In short, it was a great news century. The first daily newspaper was The Daily Courant in London, 1702. In 1754, The Daily Advertiser in London uses the first four-column format. France's first daily newspaper appears in 1777, Journal de Paris, while the first United States daily was the Pennsylvania Packet in 1784.

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The rise of the middle class transformed newspapers in the 1800s. A penny (US$0.01) buys a New York newspaper in 1833, opening up the first mass market for newspapers. In 1847, the telegraph is used as a business tool, transforming far-away stories. In 1873, an illustrated daily newspaper can be seen in New York. In 1878 the first full-page newspaper advertisements appear, and in 1880 the first photographs are seen in newspapers, using halftones. With the basic technical groundwork for the modern newspaper in place by the late 19th century, the story of newspapers in the 20th century was about professional development and adaptation to changing consumer and media markets. The story also involved an evolving business model that rode an ever-growing wave of mass-market advertising. Increased profitability and higher revenues attracted publicly owned corporations interested in buying newspapers from descendants of company founders, while simultaneously exposing newspapers to the whims of cash- and profit-hungry stock markets. By 2000, newspapers were juggling priorities: fragmentation of news consumption, fragmentation of advertising investments, the advantages and disadvantages of being a mass medium, balancing the wants of the marketplace with the company's duty to provide the needs of the marketplace, a journalistic backlash against industry changes, the sheer physicality of ink-onpaper production and distribution versus digital distribution, increasing profit pressure surrounding the core print product, and extension of the company's core brand into other profit centers.

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ALL INDIA MEDIA PENETRATION AS OF 2012

Here we can say that in the present scenario media has been spread widely. The share of Media is as below :o Print Media o TV Media o Cable and Satellite o Radio o Film o Internet 20%, 41% 16% 17% 5% 1%

PORTERS FIVE FORCE 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. 2. 3. buyer propensity to substitute relative price performance of substitutes Perceived level of product differentiation

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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 learning curve advantages expected retaliation by incumbents government policies

3.The intensity of competitive rivalry Total NO. Of competitors of BUSINESS STANDARD are THE ECONOMIC TIMES BUSINESS LINE FINANCIAL EXPRESS MINT FINANCIAL CHRONICLES number of competitors rate of industry growth exit barriers diversity of competitors informational complexity and asymmetry level of advertising expense

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COMPETITORS

Competitor is something which any company cannot avoid. Staying in a democratic country and ruling as monopoly is not possible. What the only way is to face a deal with competition. Competition can be severe and can be mild. The intensity will depend on your own firms position and your competitors position. The following are the competitors of Business Standard. The Economic Times The financial Express Business Line Mint Financial Chronicles

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BUSINESS STANDARD is the country's most respected business daily, being the first choice of serious business readers. It is published in colour from 12 centers in India - Mumbai (formerly Bombay), New Delhi, Kolkata (formerly Calcutta), Bangalore, Chennai (formerly Madras), Ahmedabad, Hyderabad, Chandigarh, Lucknow, Kochi and Bhubaneswar 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 BUSINESS STANDARD lays equal stress on quality, credibility and accuracy. BUSINESS STANDARD has the country's best economic journalists and columnists working for it. It is edited by T.N. Ninan, 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. Apart from a business newspaper, BSL publishes several periodicals, including BS Motoring, Indian Management, Asian Management Review, a quarterly publication, and two regional language business newspapers BUSINESS STANDARD in Hindi and BUSINESS STANDARD in Gujarati. The Hindi newspaper is published simultaneously from seven centers Mumbai, Delhi, Chandigarh, Lucknow, Bhopal, Patna and Kolkata. Mumbai, Ahmedabad and Rajkot. The company sees content creation, content processing and content management as its core competence. It offers complete outsourcing solutions for organizations which want to bring out in-house or private publications but lack the people and/or resources to do it cost-effectively. The web properties of BSL, including the online edition of Business Standard, include businessstandard.com, bsmotoring.com, bshindi.com and bsgujarati.com. At business-standard.com, you have access to one of the best repositories of Indian and global business news. Apart from the flagship publication, the website also features content from The Smart Investor (weekly), The Strategist (Weekly) and BS Motoring (monthly).

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Vision
To stand at respectful position in this marathon and also keep up with the pace of the changing needs of their value readers. To win more and more readers to their cause. In addition of being backed up by a strong product, company needs to deliver 1005 of it.

Mission
The mission is to expand the market share of BUSINESS STANDARD by creating a new market and by taking bites from competitors market share.

BUSINESS ETHICS BUSINESS STANDARD is neutral and most credible financial newspaper. Business Standard is a discipline of collecting, analyzing, verifying, and presenting information regarding current events, trends, issues and people.

A look at History
BUSINESS STANDARD . A standard paper for business class. When youre sure is what is always attached with Business Standard. Print media has bought considerable changes in the life of people around the globe. Even our freedom fighters considered it a powerful weapon. And it still continues to show its important presence in this changing world scenario. Business Standard Ltd. was incorporated on 15th December, 1975 under the name of Desh Publication Pvt. Ltd. This was changed to Business standard Limited on 23rd November, 1995 the head office of the company is located at Delhi. The company is managed, under the leadership and guidance of the board of directors. The company has completed its 30 years in the year 2005.The company believes in ethical conduct through professional management and has forward looking outlook.

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Organizational Hierarchy
Business Standard has the countrys best economic journalists and columnist working for it. It is edited by T. N. Ninan, perhaps Indias best known business journalist, who had earlier undertaken a complete and highly successful revamp of The Economics Times and was responsible for its phenomenal growth. Among the other senior journalists in the team are A. K.Bhattacharya, former editor of The Pioneer and associate editor of The Economic Times, and Shyamal Majumdar, former resident editor of The Financial Express.

Important figures
2.4.1 Readership of Business Standard: Business Standard is Indias second largest and fastest growing newspaper having growth rate of 300% in past four years. It has a readership over a quarter million.Its readership profile encompasses the brightest and the best from Indias business and finance communities, Readers come from varied occupations in the field of business, finance, government, policy makers and academics, stock brokers, decision makers, researchers and students and observers of the Indian Economy.

Dept: The main departments of the Business Standard are Market Development Department an
also known as Circulation Department, Scheduling Department, Space Marketing Department, Editorial Department, System Department, Production Department an Dispatch Department.

Attraction: Rich with lovely supplements and vibrant sections on personal finance, banking,
careers and technology, travel, books and review of arts and cultures are the major attractive sections.

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Economics of publication house:


A newspaper cost is Rs. 18-20 to the publication house at Business Standard. The cost is covered from the advertisements that they receive, which is the work of the space marketing department i.e. collecting advertisements for the dailies. Companies will give ads, in only those newspapers in which their audience lies and it also depends on the circulation a readership figure. Therefore to attract cash rich advertisers, publication house has to first create that class of audience, then only, they will be able to attract advertisers, which is the main source of the revenue for Business Standard. Positioning Statement of BUSINESS STANDARD When youre sure: To succeed in a futurist environment, one requires a strategy. This is true for an organization profit and non-profit in as much as it is for individual. The art of action planning, to achieve a specific goal is called strategizing and the action plan is called strategy. To manage the distribution channel properly is not the only that the market development department has to perform. The department has to take care for the necessary steps required to tape the opportunities prevailing in the market.

Achievements: Business Standard is one of the newspaper in India to have sought Foreign Direct Investment Business Standard also has an annual series of awards to felicitate outstanding leadership in the corporate world. Content tie up NDTV ABC approved

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Product Portfolio
About BUSINESS STANDARD Newspaper (Bombay Publication) A newspaper which is published from MON to SAT (Sunday edition published only at Delhi and Bombay) The size of the newspaper is 50, or 51 or 52 cms. in length and 32.9 cms. Width. Supplements with newspaper: Monday: Tuesday: Saturday: The Smart Investor The Strategist Weekend

8 pages on Stock Market. Six full pages on stock details both in Graphical and alphabetical method BS 200, which top 200, companies share details on calculating 22 key parameters. Formulae specifications. Mutual Fund details on full page coverage. Insurance schemes on half pages Guidelines before the details of stocks to let the people know how to read stock pages and the abbreviations.

Individual industry news on individual full page coverage. Collaboration with the international newspaper FINANCIAL TIMES London

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Provides 3 magazines free annually. The Banking Annual BS 1000 Fund Manager

Editions from Monday to Friday have a main edition of about 12 pages. The following areas are focused: National and International news Economy and Policy news Infrastructure news Companies news Editorial pages Crossword, Sudoku Education News Business law

Section II is the MONEY AND MARKETS Stock market news Money and currencies Metal an intermediates news Commodity news BS 200 Share prices in a alphabetical order Mutual fund and insurance

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ABOUT SUPPLEMENTS

TUESDAY: THE STRATEGIST

Theories and practices of business managements. Brand related news Notes by management thinkers Book worm Quiz column

SATURDAY: WEEKEND

Life and fashion Living Entertainment Motoring

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ABOUT MAGAZINES

A magazine is a periodical publication containing a variety of articles, generally financed by advertising and/or purchase by readers. They are often printed in color on coated paper, and are bound with a soft cover.

1) THE BANKING ANNUAL

Banking Annual, the one spot information providers regarding everything related to banks. Banks are not only gives you security but many more things. To get an all round view of banks functioning and their future action, banking annual provides with all.

Banks valuation Banker of the year Innovation bought and which would be coming in the near future Datas related to banks.

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2) BS 1000
BS 1000 is a detailed guide to Indias top 1000 companies. The issues of BS 1000 mention those depressing times, providing data on the impact of the slowdown on corporate, the deterioration in their financials, how they coped with crisis. Not just bad phases but also the success stories are mentioned. It also peeks into the future, where which industries booming, with what phase, with what strategies, etc are discussed. Below are the main features:

BS awards. 1000 best companies ranking and performance of the leaders of the country 1000 companies growth, gross profit, net profit, etc

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3) FUND MANAGER

Fund Manager, as the name suggests that it gives a full insight to the funds investment. It focuses on facts and figures on mutual funds. The fund manager seeks to rank mutual funds schemes and also rate the best fund manager of the year. Below given are the few additional features of the Fund Manager: Risk return rating over 600 funds Futures of new fund offerings Best fund pick

THE STRATEGISTS The strategist is the combined edition of the entire strategist supplement which published weekly with the newspaper. The strategist contains the pick of the articles over the previous year and a half. The objective of the annual recollected magazine is to gibe the best to the BS reader. The main motto of the magazine being to take out the strategies out of book, to understand the classic pitfalls of the big brands, to understand many other things with practical case studies.

THE WORLD OF B-SCHOOLS It focuses on the best B-schools of India with the articles like the B-school Roadmap, what matters the most courses, faculty of infrastructure, when you go for B-school hunting, etc provide the all kind of answers to the mind of a b-school seeker. Hence it gives what students want An Answer

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ABOUT OTHER STAND MAGAZINES

MOTORING

Motoring is a stand monthly magazine. It gives all the information related to cars and bikes. It gives information about upcoming models, features and specialties of them. The entire edition has something special in them. Certain experts interview related to the automobile industry.

INDIAN MANAGEMENT

It is also a stand monthly magazine. It is made especially for the management students. The students get all the information they need through the magazine. It is a one point access to cutting edge ideas in management. It gives:

Superior management coverage Delivers latest management theories Opinions from thought leaders Global trends and innovations Insights from carefully analyzed case studies Book reviews.

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Chapter 2 Functional Areas of the company


A brief department detail to give an idea of where the things are placed in BUSINESS STANDARD is as follows:

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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. 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 this agent decide that, what is the expectation of client. So on that bases agent selects any media. Advertisement is generally designed by agent but only circulated by media. So sometime media also design some advertisement, but they get client from only agents.

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EDITORIAL DEPARTMENT

Editorial 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 the Mumbai and Delhi for the adjustment. The group Managing Director of the Business Standard is MR. A. K. Bhattacharya

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 the advertise, which matter and advertisement should be in which page is the looked out by scheduling people. For this scheduling the department forms a dummy A-4 size, adjusting the editorials and the ads in that paper to know the place of the same in the original size paper.

SYSTEM DEPARTMENT
System department is responsible for the communication network as well as all the technical related problems in the company. All the branches of Business Standard are linked with V_SAT and with the dedicated leased line along with the Head Office. The most important work of the system department is to connect all the telephone line with EPBX system and connect all the branches to the head office with Hot Lines, which helps to reduce STD cost of the company.

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PRODUCTION DEPARTMENT
After receiving the facsimile copy on the butter paper from the system department the work of production department starts. This butter copy is framed on the aluminum 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. 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. The cost of reel is Rs. 10000.

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 how many copies should be reach at each center i.e. local or upcountry. Even the commission has to be taken off. The function of function department is to generate rush mail and put it on the parcel. Rush mail shows the number of the copies in the parcel and its destination address. With this a route control statement is also there for each taxi driver, which shows the number of parcels for each and every destination, comes under his route. There are also two other department without the company cannot be run. Those department without which any firm is incomplete.

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FINANCIAL DEPARTMENT

This department is responsible for all the financial matters. Matters are related to salary, operational expenses and other expenses. It is also responsible for the cutting the cost of the publication.

HUMAN RESOURCE DEPARTMENT

This is the department responsible for the HR supply in the company. For Business Standard this department is in Mumbai. It means that the Business Standard 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.

Hence all these departments are interlinked and proper cooperation and coordination is a must in the newspaper industry. This helped me in getting a better understanding of teamwork, and the importance of every second, because newspapers are published daily and a delay of single second or a minute mistake can lead to a blunder.

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SWOT analysis of Business Standard

STRENGTH

WEAKNESS

OPPORTUNITY

THREAT

Systematic

approach Not creative

Can give an extra page Continuous On general local news. monotonous approach.

covering all sectors.

Nominal price . Separate Money

Monotonous approach Can introduce a new Low Pricing Strategy of Headlines segment on Sunday

& No own publication Potential Availability

Market Toughest Competition From

Market section with 8 house pages

The Economic Times

Segregation of news In supplements

Display sometimes fuss. is

of creates

ads Can have tie-ups with a renowned brands for ads.

Over view of the whole News week is given

sometimes

in very lengthy.

weekend Provide general

awareness in terms of investment.

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7S Framework

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SYSTEM A group of interacting, interrelated or interdependent elements forming a complex whole is a system. System of interaction is very free in Business Standard. People love to eat together at lunch time, stay there with each other in all times be it good or bad. Legally they follow a hierarchy. The system is well defined and well managed. STRATAGY The science and art of using all the forces of a nation to execute approved plans as effectively as possible during peace or war is strategy. Strategies vary from time to time but what remains are the truthfulness and the attitude. For the Business Standard what matters is its firm value and so all the strategies are planned accordingly. STYLE The way in which the work is to be done or expressed is Style. Business standard is trying to do everything openly but with a blast; a blast to make the others move from their chairs. They believe in slow but steady reach to top so that readership is strong. STAFF Staff comprises of the people working in the Business standard. People working together specialized in their own areas of concern. But one thing is made sure that everyones work at Business standard is challenging. Everyone is appreciated for their work and they all work as a group. SHARED VALUE Shared Values are what engender trust and link in an organization. Shared values are also the identity by which an organization is known throughout its business areas. These values must be stated as both corporate objective and individual values. And at Business Standard people have joined the individual and corporate goals; if necessary people are also ready to devote hours even after their service hour.

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SKILLS Proficiency, facility or dexterity is acquires or developed through training or experience is skills. Skills are at times found inbuilt and most of the times is expected to learn on job. This helps them to understand the stupid mistakes that they might do in a recent job oriented.

ABC AUDIT BUREAU CIRCULATION

The ABC is a non-profit, self discipline, voluntary organization consisting of publishers, advertisers and advertising agencies. It has done pioneering work in developing systems to verify the circulation data published by those newspaper and periodicals, which have earned the right to display its emblem. Facts and figures which are checked and certified by an independent body are a very important tool in the hands of the advertising business community.

What information does an Audit Report provide? o A total average of distribution is provided. o Market coverage o Public access o Distribution by issue o Geographic distribution o One day distribution o Other details: The explanatory paragraph provides supplemental information and disclosures and includes an explanation of audit methodology.

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An advertiser would like to know the fact and figures before investing his money in advertising. An advertiser ought to know how many people buy a publication and in which area. The ABC gives all these vital facts every six months i.e. January to June and July to December. The ABC figures are not the outcome of opinions or guesswork but they are the result of rigid, in-depth and impartial audits of paid circulation of member publications by independent and leading firms of Chartered Accountants working in accordance with the rules procedures prescribed by the bureau.

Few important issues to take care as per ABC certification: Trade terms to agents on subscription copies should not exceed In case of dailies-40% of the subscription price In case of weeklies-45% of the subscription price Publishers have to maintain the full record of subscribers with their address, name and signature. There are two types of panels for auditing: Auditors Panel Publishers Panel

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SALES AND DISTRIBUTION


A sale is a transaction, dealing, trade or what? Sale can have different meanings but what is the most important thing in it, is to understand the importance of it. Without sale no revenue can be generated but just earning revenue is not to sale, it is the right type selling to the right customer with the right attitude. Customer relationship is most important, maintaining the brand image is also important. Delivering on the brand promises becomes a moment of truth in any customer relationship. This moment of truth can be either positive or with negative impact on the customers perception about your brand. There might be great marketing communication and a highly superior product, but the buying experience always stands between the seller and the customer. If the customer has a negative impact about the product then it is a direct deterioration of the brand equity. Hence, sales and distribution is a vital activity. Sales hence comprises of the outcome of what all which was done to manufacture that product. Success of selling department is the success of the company.

Business Standard is the product where the maximum demand would be in the early morning. It is highly perishable product. The product should reach the customer in due time otherwise the importance is lost. Hence time management is something very vital for the sales and distribution people. Hence I can mainly divide the supply of the newspaper in two main categories: Pre press activity Post press activity

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.

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Post press activity is the distribution. Business Standard gets involved in many kinds of sale activity. They are: o Subscription Sale : A one year or two year by subscription by paying fixed amount is sale by subscription o 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. o Line Sales Line sale is the in which it is post paid billing. When the customer gets the Business Standard copy through the vendor and pays in the end of month, it is line sale o Institutional Sales Few corporate, hotels and colleges take copy in bulk, which is said to be as institutional sale. Business Standard has the responsibility till the delivery at their doorstep and further distribution is on the company or the institution concerned o 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.

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.

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CHAPTER-3 RESEARCH METHODOLOGY

In the internship program I had to do research on the criteria used by the consumer in selecting the brand of financial newspaper, and along with that I had to do sales. So on daily basis I made survey of 10-15 people and knew their views regarding financial daily they read. In this survey the main goal is to market development and product development. Market development means how to penetrate the market and how come to know about views of reader who read financial daily. So I made a questionnaire, through which we can come to know that what business standard should do to penetrate and product development.

Research Objectives
To penetrate the market, or can say MARKET DEVELOPMENT. If company wants to develop their product than which criteria should be considered. So PRODUCT DEVELOPMENT. To understand the consumer Behavior.

Research methodology states how the research study is under taken. It includes specification of research design source of data, method of primary data collection, sampling design and analysis procedure adopted. Research methodology states what procedures were employed to carry out the research study.

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Limitation
The main shortcoming of the project was that the generalizations have been made based on a restricted sample of 200 respondents.

Because of a small sample size consisting of Mumbai consumers only it might happen that introducing new strategy for BS cannot be completely applicable throughout the country.

Area of the project is limited to Mumbai city only so the conclusion may be biased. The collection of primary data is comparatively difficult and sometimes the question of non-response arises because the people may not like to disclose the information. Respondents to whom we questioned about the product did not take the survey seriously and answered the questions just for the sake of answering

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Research Design
Data Source Primary data source- Questionnaire Secondary data source- Company website Sampling area Sample size Sampling method Research instrument Method of contact Bombay and Suburbs 200 Quota sampling Questionnaire Personal

TARGET AUDIENCE
The financial newspapers generally cater to the following target audience: Corporate executives Investors and Stock brokers Businessmen Bankers Management students and professors Chartered Accountants & other Professionals Students

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SAMPLE SIZE
The numbers of readers of business newspaper were decided on the basis of different types of occupation and their designation. Sample size of 200 was taken for the research. There was also some limitation to take such small sample size. Lack of time is the main limitation to tale such small sample size.

DATA COLLECTION
Since, data collection signifies a very crucial place in a pilot survey; I have collected primary data by personal interview through structured questionnaires. I had used only this method because of time constraints. There is also very less scope in my topic to get information from secondary source. Because to know the behavior of reader I must take their interview.

QUESTIONNAIRE FORM
The questionnaire for the purpose of this study was carefully drafted and very well developed. Proper care has been taken in asking the questions, in wording them and in maintaining the sequence of the question. The questions asked were in open-ended and close-ended form, open-ended question were to get customers own views and in close-ended questions, multiple-choice questions and dichotomies questions were included.

QUESTIONNAIRE SURVEY
This part of the data collection method can be termed as quantitative survey and the questions were very specific. The data has been analyzed based on the statistical factors and been described through a graphical analysis in the further pages.

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CHAPTER-3 DATA ANALYSIS & DATA INTERPRETATION Project title READER CHOICE OF FINANCIAL NEWS PAPER READERS.

Questionnaire
Name Age Address/Place Gender Contact No. E-mail Id Occupation : : : : : : :

1) Which business newspapers do you read (read in the last one week)?

Sales
5 10 15 5 60 Economic Times Financial Express

2) How frequently do you read a business newspaper?


Business Standard HT Mint DNA Money Others

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Sales
2 5 3 5 Daily 10 Thrice a week Twice a week Once a week Monthly 75 Other

3) How much time do you spend reading a newspaper?

More than 90 mins

60-90 mins Column1 Column2 30-60 mins Column3

0-3 mins

10

15

20

25

30

35

40

45

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4) How do you get your business newspaper?

Sales
0 15 5 10 65 Delivered at home Delivered at office Bought at News stand Reading Room librbary E-Paper 40 other

5) Which are the important sections of a business newspaper that you read?(Please give marks out of 10 to these sections which appear in your business newspaper)
9 8 7 6 5 4 3 2 1 0 Out of 10 Stock Market news Editorials National News International news Banking related news Politics Economics Regulatory policies/ Law SME Regional/City news Commodities Personal Finance

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6) Please rate the following attributes of business newspapers: (Please give marks out of 10 to each of these attributes of the different business newspapers.)
11 10 9 8 7 6 5 4 3 2 1 Business Economic HT Mint Financial Business Standard Times Express Line Others Language Detailed Analysis Unbiased News Coverage Wide News Coverage Credible Info Good Info & Investment Tips Easy To Read Appealing Layout Editorials By Expert Srock Market Coverage Useful Supplements Promotional offers

7) How did you decide upon which business newspaper to read?

Column1
5 25 25 Advised by people from same profession as mine 10 20 15 Bought the most attractive looking newspaper which I came across on a news stand Read many newspapers to decide upon the best one Started reading the paper which was read by elders at home Advised by friends

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8) What are the criteria on which you select the brand of business newspaper?

Overall Content

15 25 15

20 25

Brand Name Overall Content Editorial Content Price Factor Any References

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FINDINGS AND RECOMMANDETIONS

Findings

I came to know about the preference of customers after doing the activity of market tapping. People have different needs and wants, so one should be able to understand their needs and wants in order to sell the product.

Business standard is the second most preferred newspaper in the areas surveyed.

Most of the readers agree that the language used in BS is simple for them.

The supplements of BS are fairly popular amongst target audience which is good for the brand.

News covered by the newspaper i.e. the coverage plays an important role. Readers feel that the lack of news coverage may lead them to change the newspaper they read. Some of vernacular readers have switched to English daily only because of their need to improve their English but the percentage is negligible.

News channels and Internet media has affected the reading pattern of the readers up to a considerable extent.

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The basic idea of reading a newspaper is to gain information and knowledge; hence the news coverage is a dominating factor in newspaper purchase as well as reading.

Due to increase in the usage of Internet, people prefer to do surfing on the net and thereby collect more information on the different aspects simultaneously.

Lack of airline industry news

Agriculture industry news is not provided.

Service problem is the main problem with BS, because in our survey I met so many people who did not get news paper on daily basis.

There is also one finding that font size of stock market related news is very small so that they are not happy with it.

Some clients said that whatever hidden news shown by ET those news are not covered by BS

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Recommendations
From the study carried out and the analysis of the result obtain from the survey, the following suggestion and recommendation can help the firm to improve upon the product. 1) Add the news on IT and Information in much more detail

2) Increase the number of centers from where the news paper is available

3) Increase the font size of stock detail

4) Give more job related advertisements

5) Improve print quality

6) Come up with new creative advertisements

7) Build proper positioning in the minds of the readers

8)

Give certain small vouchers package at the time of any other festivals.

9) Service check calls at regular intervals.

10) Publishing their Club and giving membership to regular customers.

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Suggestions

Business standard should target upcoming rural district where education is growing, to increase their circulation. It can also target the undergraduate student who are preparing for entrance exams and wants to improve their language proficiency. Target small firm for the sponsored copy, Which help to create awareness about newspaper. They should start individual subscription offers with some schemes like free gifts. They should go for heavy campaign for advertisement in rural and urban areas. They can organize some events like seminars to create the awareness about newspaper. It should increase the quality of its font size.

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LEARNINGS OF FEW SOFT SKILLS


While undergoing summer training at Business Standard, with the above mentioned learnings I had learned certain soft skills. These soft skills are as follows: Communicating with people: Informing all the target customers about the subscription scheme to all the target customers. Communicating through: Convincing them: Convincing people to give an appointment and listen to the scheme Convincing customers to buy the subscription Words Brochures and flyers

Language of Corporate World: During my SIP I had learnt the language of corporate world. How they are responding. How they are behaving. How they are talking, performing their operations, their life style, and the way they are working etc.

Handling clashes with the superiors: During the fulfillment of my summer training I had faced certain clashes with my direct superior. These two months period taught me how to handle the situation. Handling pressures: While I was working at Business standard for subscription there was a constant pressure of achieving the targets and also there was a pressure of behaving good with the customers as we were representatives of Business standard there.

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Bibliography

The project report on Business Standard on the topic Understanding

the reading

habit of financial readers could be successful with the co-operation of the project and
the faculty guide. But along with the training period I had taken the Help of following books and links to know more about the subject

Book References By Kotler Philip, Keller Kevin Lane, Koshy Abraham, Zha Mithileshwar , Marketing Management (Twelfth Edition) ,Pearson Education Ltd. By Cooper Donald P., Schindler Pamela S., Business Research Method (9th Edition), Tata-McGraw Hill Publishing Co. Ltd.

Web References www.ficci.com www.business-standard.com www.wikipedia.com www.geography.com www.google.com www.business-standard.com

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