A Project Report On

“To study the segmentation, targeting and analyze the positioning of Business
Economics in comparison to other business magazines”
carried out at

Submitted By

SK AFSAR MONDAL

Under the Guidance of

Mr. Souren Koner Mr. Sourav Bhowmik

Faculty Guide Executive-Business Development
IIBS Business Economics
 PREFACE
It is said that practice makes a man perfect. So professional study is incomplete without its
practical knowledge. In the field of business, theory provides the fundamental stone for the
guidance of practice but practice examines the element of truth lying in the theory therefore
stand coordination between theories and practice is very essential to make MBA perfect.

Each & every activity is started for the accomplishment of goals & for this purpose management
is required. As being student of MBA, a management stream, we have to go in different
industrial units for practical knowledge & practical training.

A project is a systematic and scientific study of market problem with application of management
skill and concepts. The present era is an era “brand marketing”. The business of brand marketing
may be compare to the game of chess it is too hard to service in the market because market is full
of competition of on it environment both internal and external .Every company has to recognize
its strength and weakness, opportunities and threat.

I was assigned a study of the application of “To study segmentation, targeting and analyze the
positioning of Business Standard newspaper in comparison with other financial newspaper” at
BUSINESS ECONOMICS, KOLKATA.

This report has been complied primary fulfillment of the requirement for MBA course.
Secondary is to share the practical knowledge and real experience in the industry .The details
mention in this report is based on real situation and research.

I hope the report will be special interest to the marketing students who are on look for such real
life situation beyond their class room study.
 ACKNOWLEDGEMENT

I am extremely grateful to BUSINESS ECONOMICS for giving me this opportunity, which very few
students can get.

First and foremost, I extend my gratitude to INTERNATIONAL INSTITUTE of BUSINESS STUDIES for
extensive co-operation in handling the project. I am also very glad-full to Mr. SOURAV BHOWMIK,
(BUSINESS DEVELOPEMENT EXECUTIVE), for giving me the opportunity to complete my internship
programs in BUSINESS ECONOMICS.

I would like to thank all my faculties and especially who helped me to give this project a shape. I would
like to thank all the committed and dedicated members of the Business Economics for cooperating with
me at every stage in order to complete the project and helped me learn.

I thank my college and especially Mr. SOUREN KONER, who has shown me the path to reach Business
Economics and undertaken this project. Finally at the last but not the least, I want to thank Mr.
PRAMOD KUMAR SINGH who had given me the opportunity to complete my summer internship project
in BUSINESS ECONOMICS under SREI Group.

SK AFSAR MONDAL
 COMPANY PROFILE
Business Economics, following its credo of “exclusive and comprehensive” coverage, is one of
India’s oldest and most popular business magazines. Our aim is to provide our readers with an
all-around perspective on topical and timely issues.

Every issue of BUSINESS ECONOMICS consists of ten sections:

World, State, Finance, Economy, Industry, Agriculture, Environment, Technology, Life and
Enlightenment along with a 13-page in-depth coverage of 12 eastern states.

BUSINESSECONOMICS started as a tabloid in 1995 catering to readers from the industry and
academic and research institutions. As its popularity and reach increased, it was re-launched as a
magazine in 2006. BE strives for independent and in-depth analysis and comes out with highly
researched opinion pieces on economics, politics and the society.

BUSINESSECONOMICS has gone beyond conventional business reporting to highlight issues

that have expanded the breadth and scope of business ethics, practices and their impact like green
economics, corporate social responsibility, qualitative development and social entrepreneurship.

Besides having a team of highly-qualified and experienced editors and a network of

correspondents spread across the country and in New York and London, it has a panel of eminent
columnists.

BUSINESS ECONOMICS is committed to objective reporting and is not attached to any

political ideology.
 EXECUTIVE SUMMARY
The project deals with analyzing the marketing strategies of Business Economics .The survey was
conducted through structured questionnaire among the customers of Business Economics in Kolkata
to study their reading habits, preference among the business magazine , factors influencing buying
magazine, section read the most, customer satisfaction and to find the profile of the Business
Economics magazine customers.

After analyzing the data conclusions were drawn related to various facets of Positioning Strategy and
hope that it will be helpful to Business Economics for further improving its Positioning and customer
services. In this project I have tried my best to apply the theoretical knowledge to the practical world
so that we can understand the market in most effective way.

The details regarding the finding, recommendations, limitations can be found in further sections of
the report.

 OBJECTIVES:

The objective of the project undertaken was to “Study segmentation, targeting and analyze
positioning of Business Economics in comparison to other business magazines”
 Primary objectives:

1) To analyze the segmentation, targeting and positioning of Business Economics.

2) A study of the factors affecting the purchasing decision of readers in buying a

business magazine.

3) To do the comparative analysis of various business magazine.

4) To study the Brand preference among business magazine.

 Secondary objective:
1) To form a brand equity of Business Economics in the market.
2) To study company profile of Business Economics.
3) To study the customer satisfaction for Business Economics.

5) To create awareness among corporate world for the business magazines.

6) To develop the market of Business Economics in KOLKATA region.

 TASK ASSIGNED:

The Internship project commenced on 1st June 2012 and concluded on 31st July 2012.
During the project a research was conducted to study the STP strategy of Business
Economics. Additional task of developing the market of Business Economics in Kolkata
region was allotted.

The targets that I had been assigned by the company were:

1) To study STP strategy of Business Economics in comparison to other business

magazines.

2) As a promoter to create awareness of Business Economics.

3) To search, plan and make sales call to prospect.

4) To convert at least 20 prospects into clients in a month for Business Economics

magazine i.e., a total of 40 subscribers during my project work.

5) Distribution of free samples as part of brand promotion of Business Economics.

 INTRODUCTION
A marketer can rarely satisfy everyone in the market .Therefore, marketers start by dividing the
market into segments. They identify and profile a distinct group of buyers who might require or
prefer varying product and service mixes by examining demographic, psychographic and
behavioral difference among buyers.

After identifying market segments the marketer then decides which present the greatest
opportunity- which is its target markets. For each a firm develops a marketing offering that it
positions in the mind of the target buyers as delivering some central benefits. Companies
perform best when they choose their target market carefully and prepare tailor marketing
programs.

 SEGMENTATION:

Market segmentation is a marketing strategy that involves dividing a broad target market
into subsets of consumers who have common needs and applications for the relevant
goods and services. Depending on the specific characteristics of the product, these
subsets may be divided by criteria such as age and gender, or other distinctions, like
location or income. Marketing campaigns can then be designed and implemented to
target these specific customer segments.

 Criteria for Segmenting:

An ideal market segment meets all of the following criteria:

1) It is possible to measure.
2) It has to be large enough to earn profit.
3) It has to be stable enough that it does not vanish after some time.
4) It is possible to reach potential customer via organization's promotion and
distribution channel.
5) It is internally homogeneous (potential customers in the same segment prefer
the same product qualities).

It is externally heterogeneous, that is, potential customers from different segments

have different quality preferences.
1) It responds similarly to a market stimulus.
2) It can be reached by market intervention in a cost-effective manner.
3) Useful in deciding on marketing mix.
 Basis for segmenting consumer markets:

1) Geographic segmentation:

The market is segmented according to geographic criteria—nations, states,

regions, countries, cities, neighborhoods, or zip codes. Geo-cluster approach
combines demographic data with geographic data to create a more accurate
profile of specific. With respect to region, in rainy regions you can sell things
like raincoats, umbrellas and gumboots. In hot regions you can sell summer
wear. In cold regions you can sell warm clothes.

2) Demographic Segmentation:

Demographic segmentation consists of dividing the market into groups based

on variables such as age, gender, family size, income, occupation, education,
religion, race and nationality. As one might expect, demographic
segmentation variables are amongst the most popular bases for segmenting
customer groups. This is partly because customer wants are closely linked to
variables such as income and age. Also, for practical reasons, there is often
much more data available to help with the demographic segmentation process.

3) Psychographic Segmentation:

Psychographics is the science of using psychology and demographics to better

understand consumers. Psychographic segmentation: Consumers are divided
according to their lifestyle, personality, values. Aliens within the same
demographic group can exhibit very different psychographic profiles.

4) Behavioral Segmentation:

In behavioral segmentation, consumers are divided into groups according to

their knowledge of, attitude towards, use of or response to a product. It is
actually based on the behavior of the consumers.
 TARGETTING:

 Market Targeting Strategies:

Once the firm has identified its market-segment opportunities, it is ready to
initiate market targeting. Here, marketers evaluate each segment to determine how
many and which ones to target and enter.

 Evaluating Market Segments:

In evaluating different market segments, the firm must look at two factors: (1) the
segment’s overall attractiveness, and (2) the company’s objectives and resources.
First, the firm must ask whether a potential segment has the characteristics that
make it generally attractive, such as size, growth, profitability, scale economies,
and low risk. Second, the firm must consider whether investing in the segment
makes sense given the firm’s objectives and resources. Some attractive segments
could be dismissed because they do not mesh with the company’s long-run
objectives; some should be dismissed if the company lacks one or more of the
competences needed to offer superior value.

 Selecting and Entering Market Segments:

Having evaluated different segments, the company can consider five patterns of
target market selection.

1) Single-Segment Concentration:

Many companies concentrate on a single segment: Volkswagen, for example,

concentrates on the small-car market, while Porsche concentrates on the sports
car market. Through concentrated marketing, the firm gains a thorough
understanding of the segment’s needs and achieves a strong market presence.

2) Selective Specialization:

Here the firm selects a number of segments, each objectively attractive and
appropriate. There may be little or no synergy among the segments, but each
segment promises to be a moneymaker. This multi-segment coverage strategy
has the advantage of diversifying the firm’s risk.
 3) Product Specialization:

Another approach is to specialize in making a certain product for several

segments. An example would be a microscope manufacturer that sells
microscopes to university laboratories, government laboratories, and
commercial laboratories.
.
4) Market Specialization:

With market specialization, the firm concentrates on serving many needs of a

particular customer group. An example would be a firm that sells an
assortment of products only to university laboratories, including microscopes,
oscilloscopes, and chemical flasks.

5) Full Market Coverage: Here a firm attempts to serve all customer groups
with all of the products they might need. Only very large firms can undertake
a full market coverage strategy. Examples include IBM (computer market),
General Motors (vehicle market), and Coca-Cola (drink market). Large firms
can cover a whole market in two broad ways: through undifferentiated
marketing or differentiated marketing.

In undifferentiated marketing, the firm ignores market-segment differences

and goes after the whole market with one market offer.

In differentiated marketing, the firm operates in several market segments and

designs different programs for each segment. General Motors does this with
its various vehicle brands and models; Intel does this with chips and programs
for consumer, business, small business, networking, digital imaging, and
video markets. Business Economics uses the Product Specialization strategy
i.e. it offers the single product to different market segment. BSL sells the same
newspaper to Metro, Tier-1, Tier-2, Tier-3 cities across India.

 POSITIONING:

Positioning is the act of designing the company’s offering and image to occupy a distinct
place in the minds of the target market. The goal is to locate the brand in the minds of the
consumers to maximize the potential benefit of the firm. The result of positioning is the
successful creation customer focused value proposition, a cogent reason why customer
should buy the product.
 INDUSTRY & PRODUCT PROFILE
The report on the Indian Media & Entertainment (M&E) industry was released at the inaugural
session of FICCI Frames 2014 yesterday. According to the report, the M&E industry is expected
to register a CAGR of 14.2 per cent to touch Rs 1,785.8 billion by 2018 wherein digital
advertising is expected to have the highest CAGR of 27.7 per cent while all other sub-sectors are
expected to grow at a CAGR in the range of 9-18 per cent.

Industry size and projections:

Overall 2013 2014 2015 2016 2017 2018 CAGR

industry
size (Rs (2013-
billion) 18)
TV 417.2 478.9 567.4 672.4 771.9 885 16.20%
Print 243.1 264 287 313 343 374 9.00%
Films 125.3 138 158.3 181.3 200 219.8 11.90%
Radio 14.6 16.6 19 23 27.8 33.6 18.10%
Music 9.6 10.1 11.3 13.2 15.1 17.8 13.20%
OOH 19.3 21.2 23.1 25.2 27.5 30 9.20%
Animation 39.7 45 51.7 60 70.2 82.9 15.90%
and VFX
Gaming 19.2 23.5 28 32.3 36.1 40.6 16.20%
Digital 30.1 41.2 55.1 69.7 88.1 102.2 27.70%
Advt.
Total 918 1039 1201 1390 1580 1786 14.20%

Highlighting the performance during the year gone by, the report said that the Indian M&E
industry registered a growth of 14.2 per cent in 2018 over 2013 and touched Rs 1786 billon. The
overall growth rate remained muted, with a slow GDP growth and a weak rupee. Lower GDP
meant lower demand from the consumer and this impacted advertising. At the same time, the
industry began to see some benefits from the digitization of media products and services, and
growth of regional media. Gaming and digital advertising were the two prominent industry sub-
sectors which recorded a strong growth in 2018 compared to the previous year, albeit on a
smaller base.
The Indian M&E sector showed some resilience and began to grapple seriously with some
structural issues it has long talked about but not engaged with. These include TV and Print
industry measurement, advertising volumes, inventory and rates, actions to see digitization
through and reap its benefits, working out the MSO-LCO relationship, copyright laws and
operational efficiency. Many of these remain alive and will take a few years to sort through.
Others, like Phase III of Radio, are still pending regulatory action.

This year’s report also highlights opportunities that could come from tapping international
markets with a special feature on opportunities in the Middle East and Africa region. The report
also covers the live events market as well as the advertising market separately, along with an
overview of the advertising services market in India.

 TELEVISION:

The size of the Television industry in India was estimated at Rs 417 billion in 2013, and
is expected to grow at a CAGR of 16 per cent over 2013-18 to reach Rs 885 billion in
2018. Aided by digitization and the consequent increase in Average Revenue Per User
(ARPU), the share of subscription revenue to the total industry revenue is expected to
increase from 67 per cent in 2013 to 71 per cent in 2018.

 Paid C&S penetration of TV households:

The number of TV households in India increased to 161 million in 2017, implying

a TV penetration of 60 per cent. The number of Cable & Satellite (C&S)
subscribers increased by 9 million in 2013, to reach 139 million. Excluding DD
Direct, the number of paid C&S subscribers is estimated to be 130 million. This
C&S subscriber base is expected to grow to 181 million by 2019, representing 95
per cent of TV households. Of this, paid C&S base is expected to be 171 million in
2013, representing 90 per cent of TV households.
 BROADCASTING:

TRAI’s efforts to enforce the 12-minute ad cap regulation invited a divided response
from the industry and contributed to the challenges of broadcasters, especially those with
significant dependence on advertising revenues. At an aggregate level, the total TV
advertising market is estimated to have grown around 9 per cent in 2013 to Rs 136
billion, lower than the 11 per cent projected in the report last year. Going forward,
television advertising in India is expected to grow at a CAGR of 13 per cent over 2013-
18, to reach Rs 220 billion.

 Subscription revenue:

It is expected to be the driver of growth for broadcasters, growing at an estimated

CAGR of 26 per cent from 2013 to 2018. Increase in the declared subscriber base
and higher revenue share is expected to drive up the share of subscription to total
broadcaster revenue from 34 per cent in 2013 to 46 per cent in 2018.
  PRINT MEDIA:

Calendar 2018 saw the Print industry grow by 9 per cent from Rs 343 billion in 2017 to
Rs 374 billion. The growth achieved was slightly better than KPMG’s estimate of 7.602
per cent last year. The long-term growth in the sector looks promising with industry
players witnessing strong growth and a possible future demand in the regional market.

The print industry is expected to grow at a CAGR of 9 per cent for 2013-18, as against
estimated 8.7 per cent expected last year.

Much of this growth can be attributed to print media’s advertising revenues and the faith
shown by advertisers in this medium. Most advertisers have shunned their cautious
approach, backing the extensive reach and localization benefits that print offers. Some of
the big spending sectors such as FMCG, Retail and Real Estate have increased their
media spend on print this year. Print has also witnessed a boost in advertising revenues
due to the elections in several states last year. Advertising spends by political parties are
expected to benefit the print media this calendar year as well

The print industry continued to derive most (94.4 per cent) of its revenues from the
newspaper category. The Rs 14 billion magazine segment had a roller coaster ride this
year. Some prominent publishing houses discontinued their magazines this year.

 Print:

Print 2011 2012 2013 2014p 2015p 2016p 2017p 2018p CAGR
media (2013-
market 18)
Total 139 150 163 179 199 222 248 275 11.10%
advertising
Total 69 75 81 85 88 92 95 99 4.20%
circulation
Total print 209 224 243 264 287 313 343 374 9.00%
market
Total 197 211 230 250 273 300 329 361 9.50%
newspaper
revenue
Total 12 13 14 14 14 14 14 14 0.30%
magazine
revenue
Total 209 224 243 264 287 313 343 374 9.00%
 NEW MEDIA:

Digital ad-spend and the landscape Digital advertising in India grew by approximately
38.7 per cent to touch Rs 30.1 billion in 2013. Indian mobile advertising is expected to
grow at 50 per cent and reach Rs 5.1 billion by end- 2014. Digital marketers are
recognizing this trend and are now considering to or are already on their way to execute
‘Mobile-first’ branding and customer engagement strategies. The ad spend in digital
media is set to grow at 37 per cent to reach Rs 41.2 billion in 2014. Google and Face
book account for close to half of the online advertising revenue in Asia, and the
dominance can be attributed to their massive user base.
 RADIO:

Like in 2013, the FM radio industry is expected to outpace the growth of overall
advertising revenues in the coming years. With a forecast CAGR of 18.1 per cent till
2018, industry revenues are expected to more than double by 2018. Phase III is also now
looking a reality – there is an expectation that the auctions should commence before
FY14 is over. Phase III rollout is vital for the FM radio industry’s growth.

The other segments of the media industry have all grown by leaps and bounds. More and
more TV channels continue to get launched every year, and today there are 750 plus
channels available. Newspaper groups have launched several new editions of existing
titles as well as new titles across the country. With more transport infrastructure projects
(airports, highways, etc.) getting completed, the Out Of Home (OOH) industry has also
got a boost. And, of course, the internet knows no bounds. Therefore, Radio must
continue to remain competitive. It has had to rely on increasing the utilization of
available advertising inventory, but now with inventories almost fully exhausted, the only
way left to grow further is to have more channels and increase rates. Phase III is expected
to provide the requisite growth impetus.
  ADVERTISING:

The advertising industry faced a rough year in 2017 and there were expectations of a
better performance in 2018. But the continued economic slowdown, depreciation of the
rupee and low GDP growth resulted in persistent negative sentiment leading to a muted
growth rate for the industry in 2013.

A minor blip was observed towards the end of the year due to elections and rupee getting
stabilized with the industry reporting an overall growth rate of 10.9 per cent2. 2014 is
expected to be a promising year due to the impending national elections and high
expectations from sectors like FMCG, automobile (multiple new launches planned) and
financial services, with an overall growth of the advertising market projected at 13.1 per
cent.

Overall 2012 2013 2014 2015 2016 2017 2018 CAGR

industry (2013-
size (INR 2018)
billion)

TV 124.8 135.9 152 172 195 221 253 13.20%

Print 149.6 162.6 179 199 222 248 275 11.10%
Radio 12.7 14.6 16.6 19 23 27.8 33.6 18.10%
OOH 18.2 19.3 21.2 23.1 25.2 27.5 30 9.20%
Digital 21.7 30.1 41.2 55.1 69.7 88.1 102.2 27.70%
advertising
Total 327 363 410 468 535 613 694 13.90%

The market share of TV (37.5 per cent), Print (44.9 per cent) and OOH (5.3 per cent)
reduced compared to 2012 which was substituted by digital (8.3 per cent) and Radio
(4 per cent). Overall, the advertising market is expected to reach Rs 694 billion in
2018 at a compounded annual growth rate (CAGR) of 13.9 per cent.

2014 is expected to perform better than 2013 with an expected advertising revenue
growth rate of 13.1 per cent. Significant amount of growth in ADEx is expected to
come from General Elections alone. Other areas to look for would be automobiles as
the sector is lined up with couple of new launches this year and BFSI which is
expected to grow in the second half due to expected change in policies post election.

Digital media is expected to continue its growth trajectory with projected growth rate
of 36.9 per cent in 2014. TV, Print, Radio and OOH are also expected to perform
better in 2014 with projected growth rate of 11.9 per cent, 10.1 per cent, 13.7 per
cent and 10 per cent respectively. ATL: BTL ratio is expected to reach 50:50 by
2015, as companies are expected to spend on marketing activities in rural areas
(dominated by BTL activities) to push their sales.
  Average issue readership:

MAGAZINES READERSHIP BASE

Business Economics 590000

Business Today 185000
Sunday Indian 510000
India Today 1110000
SME World 60000
Outlook 700,000
The Week 204,429
Outlook Business 211000
Business India 84100
Business World 54000
Frontline 152,000

The Average issue readership numbers have been on a decline due to increased competition
from free content on the Internet and Mobile platforms.

India Today is the highest read English magazine in the county with an AIR of 1,955,000, which
is an 8.7 percent decline in its readership.

Outlook with an AIR of 533,000 has seen a 7 percent drop.

The Week has dropped by 4.2 percent and the AIR is 322,000.

Business Today has dropped by 12 percent in its AIR down to 287,000.

Business India stands at 222,000, which is a 7.5 percent decline in its AIR.

Business World has an AIR of 165,000.

Frontline has seen a 20.8 percent decline.

Business Economics, following its credo of ‘exclusive and comprehensive’ coverage, has been
one of India’s most popular business magazines. What was started as a 12-page tabloid in 1995
by Mr. H.P. Kanoria, founder of Srei Foundation, an eminent industrialist and its Editor in Chief,
has become a magazine with global reach and coverage.

Every issue consists of nine sections: World, States, Finance, Economy, Industry, Agriculture,
Environment, Technology and Life. It covers the entire gamut of economic activities in India and
abroad. Thoughtful pieces on socially and politically relevant issues, health, education and
enlightenment are offered to give our readers an all around perspective.

It is now having a total circulation of 85,160 copies with a readership base of 5, 90,000 per issue.
Segment-wise our readers are of A+, A & B+ category and education-wise, most of our readers
are graduates & post graduates. Besides the stand sale of 66,400 copies and subscription of 13,
337 in India; another 5,423 copies are sold in USA, UK, Sri Lanka, Nepal & Dubai.

Besides having a team of highly-qualified and experienced editors, bureaus in Mumbai, Delhi,
Kolkata, Chennai and Kohima as well as a network of correspondents spread across the country
and in New York, London, UAE and Colombo, it has a panel of eminent columnists.

TICK TERM No.of PAYING PRICE GIFT SAVING GIFT OPTION

ISSUES VALUE

3 Years 72 1440 1440 1440 8 GB Pen Drive or Bag or Ties/Stole or

Books
1 Year 24 480 480 480 Desktop Clock or T-Shirt or Books
1 Year 24 240 240
RESEARCH METHODOLOGY
Research methodology is the process of the systematic gathering, recording and analysis of data
collected by various techniques to access the response and accordingly prepare a report based on
which reader opinion toward products can be analyzed.

Following order of steps to be taken provide useful guidelines regarding the research process.

 Research Design
 Sampling
 Data Collection

 SAMPLING:

Sampling is one of the most fundamental concepts underlying any research work. Most
research studies attempt to make generalization or draw inference regarding the
population. Based on their study of a part of the population that is the sample. The sample
data enables the researchers to correctly estimate the population parameters. While doing
sampling I considered Kolkata region.

 METHODS OF DATA COLLECTION:

There are two methods of data collection-

 Primary data:

Primary data are those which are collected fresh and for the first time, thus happen
to be original character. Both questionnaire and scheduled method are used for
Primary data collection from Rabindrasadan Metro, A.J.C. Bose Road, Dharmatala
New Market Area, Howrah Station, Dharmatala Metro, Park Street, Kihdderpore,
Calcutta University, Jadavpur University and Rabindra Bharati University in Kolkata .

 Secondary data:

Secondary data are those which have already been collected by somebody else and
which have already been passed through statistical process. For the research have
taken secondary data for comparative study of business economics with other
financial daily. The literature survey and the references are taken from the official
website business economics.
 SURVEY PROCESS:

For the research, customers visited were Company, Institutes, and C.A. and were asked
questions which are short and specific and easily understandable. Data was also collected
data from official sites, published articles, research works.

 Steps Undertaken:

1) Information about the customers was collected from the company database,
from yellow pages and from the local vendors.

2) Before approaching the customers call was made to them to seek the
permission.

3) If the customer is not free that time ; some other date was asked and in the
mean time asked for the mail id and was send the Business Economics
subscription package and was informed the customer to go through it.

4) At the time of meeting respondents were first asked about the readership
habits of the towards business dailies and if it’s there, then ask for the
particular newspaper.

5) After that question pertaining to project were asked, as to the content of the
news, preference of the newspaper any specific problems pertaining to the
availability, satisfaction level and such I requested them to fill up the
questionnaire.

6) All the responses along with any recommendations given by the customer
was properly taken into consideration The customers were properly guided
in answering the questionnaires and were helped in giving a rational
response then analyzed the questionnaires and provided the results through
pie charts and bar graphs

7) In case of the corporate and the educational institutions I went for personal
interviews instead of getting questionnaires filled up.

8) The natures of the interviews were generally one to one and the types of
questions asked generally matched the one given in the questionnaire.
 RESEARCH APPROACH:

Qualitative as well as Quantitative approach has been used for this research. But the
stress was basically on the quantitative approach.

 Quantitative approach:

Quantitative data involves the generation of data in a quantitative form which can
be subjected to analysis in a formal and rigid fashion.

 Qualitative approach:

It is concerned with subjective assessment of opinions and behavior.

 RESEARCH DESIGN:

This calls for developing the most efficient plan for gathering the necessary information,
design a research plan, decision on the data sources, research approaches, research
instruments, sampling plan and contact methods. A research design is the specification of
the method and procedure for acquiring the information needed. According to my
research design I have performed the following steps in the project.

 Deciding objective and sub-objective of the research.

 To determine the most suitable method of research.

Research designs are of following types:

1) DESCRIPTIVE

2) DIAGNOSTIC

3) CAUSAL

4) EXPERIMENTAL

5) EXPLORATORY

6) APPLIED

In this project, applied type of research design has been used. This method was used so
that finding of research can be used for improving STP strategies. In this project the
objective was to gather information regarding Positioning of Business Economics.
 RESEARCH TOOL:

A structured questionnaire was used as an instrument in gathering the required

information from the Regular customer. It is a systematic compilation of questions. The
questions were well defined and mostly were closed ended question because of which
respondent don’t have to stress their mind. The reason why the questionnaire was
preferred is due to following reasons:

1) Low cost.
2) Anonymity.
3) Total coverage.
4) Avoid bias.

 SAMPLING:

Sampling is one of the most fundamental concepts underlying any research work. Most
research studies attempt to make generalization or draw inference regarding the
population. Based on their study of a part of the population that is the sample. The sample
data enables the researchers to correctly estimate the population parameters. While doing
sampling I considered Kolkata region area and then have taken help of judgmental sampling.

 SAMPLING METHOD & TECHNIQUE:

There are two types of sampling methods:

1) PROBABILITY METHOD.

2) NON PROBABILITY METHOD.

In this research the non-probability sampling technique is used and in non-probability

sampling Judgmental sampling was used.

Judgmental sampling or Purposive sampling: The researcher chooses the sample based
on who they think would be appropriate for the study. This is used primarily when there
are a limited number of people that have expertise in the area being researched.

 SAMPLING POPULATION: \

All the existing clients like, Stock Brokers, working professionals, Hotels, Students etc.

 SAMPLE FRAME:

The entire list that contains the sample unit is known as sample frame: in this case my sample
frame was Kolkata (subscribers of magazine) region.
 SURVEY AND DATA INTERPRETATION

RESPONDENTS
MAGAZINES
INDIA TODAY 15
OUTLOOK 16
BUSINESS WORLD 2
BUSINESS ECONOMICS 11
BUSINESS TODAY 4
SUNDAY INDIAN 5
THE WEEK 9
SME WORLD 4
FRONTLINE 4

16

14

12

10
RESPONDENTS
8

0
MAGAZINE READERSHIP

STUDENTS TEACHERS SERVICE BUSINESSMEN IT PROFESSIONALS

9 SEGMENTS 2 1 2 1 1
GIFTS 6 0 4 1 2
DELIVERY TIME 2 3 1 2 2
PRODUCT 0 4 3 5 0
QUALITY
CONTENT 2 5 1 6 1
AVAILABILITY 0 1 1 3 0
COST 4 1 2 0 1

STUDENTS
3 TEACHERS
SERVICE
2 BUSINESSMEN
IT PROFESSIONALS
1

0
FACTORS INFLUENCING BUYING DECISION

STUDENTS TEACHERS SERVICE BUSINESSMEN IT PROFESSIONALS

RELIABILITY 3 4 3 8 4
SOPHISTICATION 4 2 4 3 1
TO THE POINT 7 8 4 5 1
ELEGANT 2 1 3 2 1

5
RELIABILITY
4
SOPHISTICATION
3 TO THE POINT

2 ELEGANT

0
PEOPLE RELATE BUSINESS ECONOMICS ON QUALITY

STUDENTS TEACHERS SERVICE BUSINESSMEN IT PROFESSIONALS

DEFINITELY 5 4 4 8 4
PROBABLY 7 4 6 4 1
NOT SURE 3 3 2 5 1
PROBABLY NOT 1 1 2 1 0
DEFINITELY NOT 0 1 0 0 1

5
DEFINITELY
4
PROBABLY
3 NOT SURE
PROBABLY NOT
2
DEFINITELY NOT
1

0
SUGGEST BUSINESS ECONOMICS TO FRIENDS

STUDENTS TEACHERS SERVICE BUSINESSMEN IT

PROFESSIONALS
ADVERTISEMENT 8 3 3 10 1
SUPPLEMENT
CONTENT 6 12 10 5 4
SUPPLEMENT
DISPLAY SUPPLEMENT 2 0 1 3 2

12

10

6
ADVERTISEMENT SUPPLEMENT
CONTENT SUPPLEMENT
4
DISPLAY SUPPLEMENT

0
Opinion regarding the supplement of Business Economics

STUDENTS TEACHERS SERVICE BUSINESSMEN IT

PROFESSIONALS
Corporate & 5 2 4 5 1
Industry
Economic and policy 4 5 3 8 1
Editorial 1 3 2 0 0
Banking and 4 3 1 2 2
Insurance
Stock Markets 2 2 4 3 3

5
Corporate & Industry
4
Economic and policy
3 Editorial

2 Banking and Insurance

Stock Markets
1

0
Section read in BUSINESS ECONOMICS & other business magazines

STUDENTS TEACHERS SERVICE BUSINESSMEN IT

PROFESSIONALS
Delighted 11 12 7 14 5
Satisfied 4 3 6 4 1
Not Satisfied 2 0 1 0 1

14

12

10

6 Delighted
Satisfied
4 Not Satisfied

0
Satisfaction with the service of BUSINESS ECONOMICS

STUDENTS TEACHERS SERVICE BUSINESSMEN IT

PROFESSIONALS
PEN DRIVE 11 3 6 14 5
STOLE 2 3 0 2 0
BAG 1 3 6 1 0
DESKTOP 2 6 2 1 2
CLOCK

14

12

10

8
PEN DRIVE
6
STOLE

4 BAG
DESKTOP CLOCK
2

0
GIFTS PREFERENCE

STUDENTS TEACHERS SERVICE BUSINESSMEN IT

PROFESSIONALS
FORTNIGHTLY 11 5 12 10 5
WEEKLY 4 2 1 6 1
MONTHLY 2 8 1 2 1

12

10

6
FORTNIGHTLY
WEEKLY
4
MONTHLY

0
FINDINGS

 Business Economics segment the market on geographic criteria. The geographical area is
divided on the basis of Tier-1, Tier-2, and Tier-3 cities.

 The target market of Business Standard is as follows:

 Chartered Accountants.
 I.T. Companies.
 Hotels Share Brokers.
 Travel & Tourism Company.
 Real Estate.
 Banking & Financial Institutions.
 Health & Beauty Clinics.
 Educational Institutions Entrepreneurs.

 Business Economics is positioned as a premium product (Business Magazine) read by the

Crème de la crème of corporate India .It is perceived as no. 3 business magazine by the
customers.

 Among the users of Business Economics; India Today is the most read business
magazine in the general newspaper category.

 According to the perception / preference of customers Business Economics is positioned

as no. 3 business magazine.

 Content of the magazine is the most influential factor in buying of the magazine.

 Business Economics magazine is perceived as no.3 on the following attribute ;Reliability

of Information, Relevance to your studies/Business, Organization of different sections in
newspaper, Language and style, Depth of Topic, Editorial content; whereas it is
positioned as no.3 on Usage of Figures and Tables and Appearance and Format.
 Information in the Business Economics magazine helps customers in decision making
most of the times.

 Economy and Policy is the most section in magazine followed by Corporate and Industry.

 The one quality that the customers of Business Economics relate the magazine with is
‘To the Point’.

 Snapshots, Women and the Enlightenment sections were rated as Very Good by the
customers.

 Expectations of 86 % customers are either matched or exceeded.

 Individual Investors and stock brokers are the majority users of Business Economics.
 LIMITATIONS

 As Business Standard Limited has huge customer base spread throughout the KOLKATA
and country, so it was not possible to survey each customer hence there was limitation on
sample size.
 The project was required complete within a certain time period and this was another
constraint for study.
 Some customer was hesitant to share information, which they felt was confidential.

In their peak hours of work, respondents may have given some wrong information or incomplete
information.
 RECOMMENDATIONS

 A supplement must be started giving insights into the real estate business.

 A section regarding mutual funds must be introduced in The Smart Investor Supplement.

 Business Economics must approach the headquarters of Institutions, Offices, Colleges so

as to develop the market.

 The gap between the ordering of Subscription by the customer and issuance of
subscription should be reduced. As of now a customer has to wait maximum for 15 days,
this should be reduced down to maximum of 5 days.

 Supply chain needs to be strengthened. 86% of the BE Readers were satisfied with BE
services and 14% of BE Readers were not satisfied at all .

 Business Economics must focus on retaining the existing customer base, acquiring new
customer is costlier.

 Business Economics must promote its offering during Business functions , National
Conferences, Trade Fair, Business School Events, Induction Program, MBA coaching
centers to catch the target as early as possible in their life stage.

 Business Economics must aggressively reinforce its proposition of being “Straight to the
point.

 Business Economics should be more competitive against the business magazines

prevailing in the existing market. Like all other magazines, it can also try to not to give
monetary gifts to their customers and instead it can deliver some type of special discount
offers.

 Business Economics should take precautions for reaching the magazine in right time. It
can tie-up with the different courier service providers through which it can deliver the
magazines to their respective customers in time.

 Business Economics must change or increase the number of segments as many customers
are also interested in share market and sports. These 2 segments should be included in the
magazine.
BIBLIOGRAPHY:

www.wikipedia.com
www.businesseconomics.in
www.philipkotler.com
www.csmprintmedia.co.in
“Marketing strategies” by Zig Ziglar
www.yahoo.co.in
www.google.com
“Organizational Psycho-Traits” by Pitzler
“Customer Service Analogy” by Duke Menon
www.managementparadise.com.
Annexure:

Questionnaire

Name: …………………………………………. Occupation: ……………………………………

Address: ……………………………………….. Contact no: …………………………………….

1. Which business magazine do you read?

a. India Today b. Business World c. Business Economics d.. Business Today
e. Others……………

2. Which factor influences the most while buying magazine?

a. Content b. Availability c. Cost d. Brand e. Services Offered

3. Which section do you read the most in Business Economics / other magazine?
a. Finance b. Industry c. Nature d. Health e. Last Word f. Other……………

4. With what do you relate Business Economics?

a. Reliability b. Sophistication c. To the point d. Elegant e. other…………

5. What do you want more in Business Economics?

a. Advertisement b. Content

6. Would you suggest Business Economics to your colleague/friends?

a. Definitely b. Probably suggest c. Not sure d. Definitely not suggest

7. Are you satisfied with the services of Business Economics?

a. Delighted b. Satisfied c. Not satisfied

8. Any suggestion to improve Business Economics magazine?

………………………………………………………………………………………………
………………………………………………………………………………………………
……………………………………………………………………………………………