Synopsis Of The Business Standard Project

A Report On Comparative Analysis between Business Standard and Economic Times based on readers’ perception with special reference to Business Standard Ltd.

Under the guidance of: Mr. Jitender Govindani

Mr. Asirwadam

Director and Marketing Faculty

Faculty Guide

Submitted by: Santosh Rai Regd. No. 08/111

SYNOPSIS About Company Business Standard started in 1975 by the Ananda Bazar group in Kolkata previously Calcutta, the paper was hived off as a separate company in 1996, and then bought by Mumbaibased financial investors, after which it began a phase of rapid expansion with the launch of new editions. T.N. Ninan has been the editor since 1993, after he moved over from the editorship of The Economic Times. 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, Pune, Kochi and Bhubaneswar. Business Standard is being sold by 210000 copies every day across the country. It circulated in more than 1000 towns across the country. Business standard is published Monday to Saturday from all locations and on Sunday it published from Mumbai, Delhi and Kolkata.

Introduction At the current scenario business newspaper industry is very competitive. Every companies are expending there business in all major cities of the country. The topic “Comparative Study between Business Standard and Economic Times with special reference to Business Standard” is chosen to know the readers perception about both the newspaper. The main purpose of this project is to explain in depth awareness of brand Business Standard to the various segments of the readers with comparison to E.T. The study is carried out with intension to find out the readers view about Business Standard and Economic Times and do the comparison between both newspapers. In this Study 100 people have taken for survey from population.

.

Importance of Study

This project will help the Business Standard Ltd. to implement necessary steps to improve the market share especially in Hyderabad and Secundrabad. It will also help to organization to find out weak points compare to Economic Times. The study is about Comparative Analysis between Business Standard and Economic Times. The main competitor of Business Standard is Economic Times therefore this study will help to Business Standard Ltd. to know the readers view about both the newspapers and what consumer wants from business standard newspaper.

Need of Study The need for conducting the research arrived because of : ➢ To compare the qualitative service of Business Standard and Economic Times. ➢ To compare the promotional strategies of Business Standard and Economic Times. ➢ To compare both newspaper on different aspect.

Objectives The main objective of the study is: ➢ To find out the brand preference among the business newspaper. ➢ To find out the time duration of using particular business daily. ➢ To find out the attributes which influence the consumer to purchase business daily.

Research Methodology

The objective of the present study could have accomplished by conducting a systematic market research to know the promotional strategies and services of Business Standard Ltd. Market research consist of the systematic collection, recording, analysis, Interpretation and reporting of information about various facts of a phenomenon under study. It plays a truly analytical approach to decision that will be take.

Source of Data There are two types of data which have used in this study: ➢ Primary Data ➢ Secondary Data

Sampling Method Simple random sampling: It refers where each and every item in the population has an equal chance of inclusion in the sample and each one of the possible samples, in case of finite universe, has the same probability of being selected.

Sample Unit: The sample unit is Management Student & Professors, Corporate professionals, Chartered Accountant and Investors (Stock brokers).

Sample Size: The sample size for the survey is 100 chosen from the large population. Out of 100 it was divided in 40-30-15-15 respectively in above categories of sample unit.

Research Instrument:

The Questionnaire is the most common instrument used in collecting primary data for the study. It was used for consumer survey, which helps in study. The types of questions included in questionnaire are: 1) Multiple choice questions 2) Rating Questions 3) Likert scale questions 4) Open ended question

Findings In my survey I came to know that most of the business daily readers are reading Economic Times because of the bundle offer with Times of India (Rs. 450 for 6 month for both newspaper), but if we compare the individual sales of Economic Times (15000 copy) with Business Standard (12500) in Hyderabad and Secundrabad than difference in sales is only 2500 copy. Investors are the majority users of Business Standard among all the respondents, 47 % of Investors would like to read Business Standard because Business Standard is a only business daily which provides 200 companies share market (Sensex, Nifty) knowledge of previous business day which is “BS 200”. Economic Times is providing good sales promotion offers compare to Business Standard to its consumer. E.T is also having the benefit of Times of India’s distribution channel because of this distribution channel E.T is able to save more distribution expenses. Most of the business daily readers are reading it from more than 1 year. In Hyderabad Business Standard is not having Sunday edition but other business dailies like Economic Times and Financial Express are having Sunday edition it is also effecting on the Business Standard’s sales.

Suggestions ➢ At the current time Business Standard is not having Sunday edition in Hyderabad but another business dailies like Economic Times and Financial Express are having Sunday edition and the customers of the Business Standard are unhappy with this policy of the

organization so that Business Standard should start its edition on Sunday with some better strategies than its competitors who is charging more on Sunday edition. ➢ Business Standard provides only 4 annual magazines to its subscribers which are Fund

Manger, BS 1000, Billionaire Club and Annual Banking but Financial Express provides 13 magazines in a year so that Business Standard should think about increasing the magazines or they should provide these 4 magazines more frequently. ➢ Business Standard uses Eenadu’s distribution channel for distributing news paper to its customers but there are so many people who are not receiving there copy after completing subscription process. For example Indian Bank Banjara Hill, Road no 7 has subscribed Business Standard before 10 month but till now the bank has not got any copy.

Limitation: ➢ The study have been completed in 45 days, this is not sufficient time to do a survey in twin city Hyderabad and Secundrabad. ➢ The sample size chosen is limited to 100 respondents; the study may not be applicable to the total market. ➢ Hence the data collected may not be a representation of the entire population. ➢ There is a possibility of biased answer from the respondents; hence the information collected might not be an accurate one. ➢ The study has been done in certain areas in twin cities in Hyderabad and Secundrabad. The findings are regional and do not represent the state or country. ➢ As the market being very huge it was not possible to cover each and every area.