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Customer Satisfaction and Brand Equity of Business Line
Customer Satisfaction and Brand Equity of Business Line
Title of the Presentation
CUSTOMER SATISFACTION
AND BRAND EQUITY OF
IN KOLKATA
Presented by
Koushik Singha
(2012-2014)
OBJECTIVE OF THE STUDY
To understand the consumer reading habits of Business papers.
To understand the competitive scenario in the business paper market.
Although it’s my last project work ,so whatever I have learned from beginners to till now I have applied in this research report .
Print media Industry overview
To a have pseudo corporate exposure and to get acquainted with real scenario of corporate world
Newspaper is primarily segmented into two categories in India based on language, English Newspaper and Regional Language Newspaper.
Financial newspaper is a part of English newspapers and meant for a selected market segment.
Print media in India is having a great threat because people are more savvy into internet, a phenomenon which started since IT boom.
Growth of Indian print media industry and marketing
To a have pseudo corporate exposure and to get acquainted with real scenario of corporate world
Role of newspaper in this modern life
To a have pseudo corporate exposure and to get acquainted with real scenario of corporate world
The Press or Media is often called as the fourth pillar of a modern country. Although Internet and TV Channels are posing a challenge to Newspapers, yet Newspapers still enjoy a very prominent place in our life. We cannot do without Newspapers. When we get up early in the morning, the first things that we want to have is a cup of tea and our daily newspaper. The newspaper is there, on our breakfast table, We are want to know what is going on in the country and outside it. The newspaper gives us all sorts of news of our own country as well as of other countries. It has been rightly remarked that the newspaper is something like a current history.
Newspapers play a very import role. Like today each nation is connected with the rest of the world by the ties of trade and politics. The whole earth has become like a global village.
Cont……. To a have pseudo corporate exposure and to
get acquainted with real scenario of corporate world
Newspapers promote commerce and trade. They have become a very powerful means of publicity and advertisement. A businessman can advertise his goods and services in a newspaper. He can increase his sale. He can also get information about goods he wants to purchase. In these days of keen competition newspapers are very helpful to the businessman.
Newspapers serve the cause of education and make us fit to move in a cultured society. The reading of newspapers will keep us in touch with the modern world and its affairs. In them there are articles on various subjects. There are special columns for science and arts. We find very useful for competitive examinations. The Sunday issue of the newspaper is very informative and important. In it we find good articles and interesting stories written by great writers.
Company overview To a have pseudo corporate
exposure and to get acquainted with real scenario of corporate world
The Hindu was founded in Madras on 20 September 1878.
T. T. Rangachariar, P. V. Rangachariar, D. Kesava Rao Pantulu and N. Subba Rao Pantulu were the founders.
The paper initially printed from Srinidhi Press but later moved on Scottish Press, then, The Hindu Press, Mylapore, and finally to the National Press on Mount Road.
ABOUT
To a have pseudo corporate exposure and to get acquainted with real scenario of corporate world
Business Line was introduced in market in 1994
Business line is a first white business news paper.
Business Line is published from 17 location
It Started publishing in Kolkata from 7’Th October, 2006
PRODUCT PROFILE To a have pseudo corporate exposure and to get
acquainted with real scenario of corporate worldSunday Corporate/ Economy, Economy, Commodities, Personal Finance, Mutual Funds, Stock Insight, Top 500 Stocks, Market Watch, Variety.
Feature: ”Investment World"
Monday Corporate, Economy, Transport, Money/ Banking, Editorial, Opinion, Market Mood, States, Agri- Business, Emerging, Entrepreneurs, Variety.
Feature: MENTOR: “Taxation, Accountancy”,
Tuesday Companies, Corporate, Economy, Corporate/ Marketing, Money/ Banking, Corporate/ Information Technology, Editorial, Opinion, Market Watch, Stocks, Derivatives, Logistics, Commodities, Agri-Business, States, Variety.
Wednesday Companies, Informational Technology, Economy, Editorial, Opinion, Money/ banking, Commodities, Agri-Business, States, Variety
Magazine: “Smart Buy”
CONt…. To a have pseudo corporate exposure and to get
acquainted with real scenario of corporate worldThursday Corporate, Economy,
Corporate/ Informational Technology, Editorial, Opinion, Money/ Banking, Market Watch, Stocks, Stock/ Derivatives, Logistics, Commodities, Agri- Business, States, Variety.
Feature: ”Fast Changing Scenario”
Friday Companies, Corporate/Marketing, Economy, Information Technology, Editorial, Opinion, Money/ Banking, Market Watch, Stocks, Stocks/ Derivatives, Logistics, Commodities, Agri-Business, States, Variety.
Supplement: Weekend Life.
Saturday Corporate, Corporate/ Marketing, Economy, Corporate/ Informational Technology, Editorial, Opinion, Money/ Banking, Market watch, Stocks, Stocks/ Derivatives, Logistics, Commodities, Agri-Business, States, Variety.
BRAND EQUITY To a have pseudo corporate exposure and to get
acquainted with real scenario of corporate world
BRAND ASSET VALUATOR MODEL
To a have pseudo corporate exposure and to get acquainted with real scenario of corporate world
CONSTRAINTS OF BAV MODEL
To a have pseudo corporate exposure and to get acquainted with real scenario of corporate world
To a have pseudo corporate exposure and to get acquainted with real scenario of corporate world
Differentiation:
1st white business news paper. It’s well researched and in-depth
coverage of business news for every segment’s.
Every educated peoples can read this not only Business person / MBA students.
Paper printed Sunday also. It’s has 17th edition. coverage of business
news for every segment’s.• Easy to read.• Read not only business/ MBA person’s, Every one
can read this.• Paper printed Sunday also.• It has 17th edition.
Relevance:
Easy languages.
Loyal readers of this daily are mostly professionals including those in the middle and upper management rung of industry and also young readers who are poised to take their place in future.
Effort able subscription. with re
Esteem:
It’s regard but not like Economic times.
It most like management students, some professionals.
Although it’s a white business news paper so it’s feel something difference from other’s. it’s feel like read general English news papers. So, more touchy.
Knowledge:
People are more aware this news paper.
People know as a 1st white business news paper.
Healthy brand, while differentiation have grater than relevance.
Healthy brand, while remaining relevant have greater differentiation than relevance.
D > R
0
10
20
30
40
50
60
70
80
90
100
Differentiation Relevance
Esteem more than knowledge means, “I’d like to get to know you better.”
Healthy brand, while remaining relevant have greater differentiation than relevance.
E > K
0
10
20
30
40
50
60
70
80
90
100
Esteem Knowledge
Competitors
To a have pseudo corporate exposure and to get acquainted with real scenario of corporate world
Perceptual Mapping To a have pseudo corporate exposure and to get
acquainted with real scenario of corporate world
Represent consumer perceptions – in (usually) two dimensional space so that the manager can readily see where his own brand is positioned in the mind of his prospect in relation to other brands.
Perceptual Mapping continued…..
To a have pseudo corporate exposure and to get acquainted with real scenario of corporate world
Brand Attributes and Benefits.
Where we are – Where we should be
Perceptual Mapping continued……
High Price (Daily)
Low Price (Daily)
Good Circulation
Improper Circulation
The Economic Times
Financial
Express Business Standard
Business Line
Mint
Perceptual Mapping continued…..
High price (Subscription)
Low price (Subscription)
News Content
Good
News Content
BadBusiness Line
MintThe Economic
Times
Business Standard
Financial
Express
MICHAEL PORTER’S FIVE FORCES MODEL ANALYSIS
THREAT OF SUBSTITUTE PRODUCTS
Mobile Apps: In today’s scenario, anyone and every one
can have a smart phone. Those smart phone have many application amongst which there comes an application which facilities reading online news.
News channels: To read news paper is time consuming. A
busy man can listen to news in television while he is a rush for office or after returning from office if he is interested to look for current stock market status, then he can see the channels like CNN IBN with relaxation.
Seminars: The product business line is also meant for
management student to acquire knowledge that can help them in the interview. But if there takes place seminars and lectures to provide such knowledge then they hardly pay attention to an e-daily.
General News paper: The Times of India and The Telegraph are
very famous news paper in kolkata rather than economic dailies.
THREAT OF NEW ENTRANS
New Publication house: As print media industry is booming,
new publication house are coming out in plenty. So they are threats to these news paper house.
Television channels are entering into publication visa-versa. A perfect instance can be, Ananda bazzar patrika horizontally integrated themselves and went for the news channel ABP news. Which has already tap the market and the target audience.
BARGANNING POWER OF BUYERS
For a news paper firm there are two types of buyers.
1. Readers 2. Buyers who circulate the news
paper.
For a news paper company the higher the readership ratio, the higher actual buyer so these two are inter-related and inter-dependent.
BARGAINING POWER OF SUPPLIERS
North European countries (like Denmark, Norway, Sweden, etc) supply raw papers for the news paper industry in India and many countries of the world. If there occurs that suppliers decreases in the ratio of buyers then that can become the cause of threat from the suppliers for a news paper firm.
THREAT OF RIVALRY
As mentioned earlier, Business Line has its four rivalries, The Economic Times, Business Standards, Financial Express, and Mint. The Economic Times is the market leader. Business line comes next and Business Standard is just succeeding. Business Line has great Threat from The Economic Times and business Standard. Actually all the financial dailies are doing well. So, Business line has threat from all four other firms.
Integrated Management communication Analysis
To a have pseudo corporate exposure and to get acquainted with real scenario of corporate w
“Business line on campus” Which is meant for management students only was inaugurated on 3rd of December 2013, was promoted in all management institutions of Kolkata by given a free copy of the newspaper amongst the students. Mr. Bhaskar Ganguly came to our college (UWSB) to demonstrate about the newspaper, as well as another colleges also like IEM, ISBM, BIBS, etc.
Service blue print of business line
Physical Evidence Newspaper Office Website Mobile Apps
Customer ActionBuying News
PaperReading News
PaperVisiting Web
siteOperating
Mobile apps
Line of Interaction
Onstage employeeContact Person
Asking for subscription
RespondingCustomer
Making customerinvolvement
News paperdelivering
Line of Visibility
Backstage employ--ee contact
person
News collectorRefreshing website
regularlyInnovating mobileReach medium
Line of internal Interaction
Support processingMaking newspaper
& EditingMaking of the con--tent & Marketing
Making content& finally edit for
Mobile apps
Research Methodology
Data collection is the heart of market research. It is an elaborate process through which the researcher makes a planned search for all relevant data required for the assignment.
Data
Primary Data
Observation Method
Survey MethodPersonal
Interview Questionnaire
Secondary Data
MagazinesInternetWebsites
Method AdaptedTo a have corporate exposure and
to get acquainted with real scenario of corporate world
Data - Primary and Secondary Data Collection tool – Sampling.Sample size - 100Sampling Method – Convenient
SamplingTarget Market SegmentsCorporate executivesInvestors and stock brokersEntrepreneursBankersManagement students and
professorsChattered accountants and
other professionalsStudents
Data Analysis and Data Interpretation
Do you read News Paper?
Yes
No67%
33%
Which type of Newspaper do you read?
Financial News-paperGeneral NewspaperBoth
65%
13%22%
Which of the following do you read?
The Eco-
nomic Times
Business Standard
Business Line
Financial Express
Mint0
5
10
15
20
25
30
35
40 37%
17%
24%
13%
9%
The Financial paper that you follow, where you prefer reading it?
In Office
At Home
Through Internet
Other
0 5 10 15 20 25 30 35 40
13%
37%
11%
40%
Have you read Business line at least once?
YesNo
0
10
20
30
40
50
60
41% 59%
Have you subscribed to this paper?
Yes No
68%
32%
Why do you prefer this paper over others?
Because of newsBecause of brand equityBecause of brand loyalty
17%
44%
39%
Why you will subscribe to this paper?
Good discount on price
Good gifts
Better Content
0 5 10 15 20 25 30 35 40 45
22%
36%
44%
Where did you read Business Line?
Series1
0.55
0.3
0.15
In office Through internet other's
Limitations
My geographical area of working was limited. I was asked to work only in Kolkata and my home town canning town.(south 24pgs,).
Time was limited. If I would have got some more time I could have got few more information.
Findings
People are less interested to news papers as because they don’t have time and they wish to have more entertainment within small span of time which newspaper does not provide.
A vast number of readers prefer general news more than financial news.
The Economic Times is the leading financial daily in the Country.
As people have very less time, so maximum number of people read newspaper at either office or through internet.
Readers of Business Line prefer the news paper, as they like the news content and also “The Hindu” is a renowned brand.
Recommendations
To maintain the goodwill and the heritage of The Hindu, the firm should focus over the promotional activity of the product Business Line.
The questionnaire survey suggests that readers prefer other news papers in spite of higher prices. That means news content should be improved much more.
Circulation of the news paper should be taken care of because sometimes negative feedback from the customers has been received regarding the same.
The company should take an initiative to take a feedback of the product of those readers who are already subscribed.
As consumers are very much gift savvy, so company should offer gift vouchers in festivals to attract customers.
Should do proper positioning of the product.
conclusion
• I had my dissertation report for a month regarding business line newspaper. My topic was “customer Satisfaction and Brand Equity of Business line Newspaper”. I was collect many information of business line newspaper. I was collect information from customer, some student’s some professional’s etc about business line as a brand, I also found out that there were people who follow general newspapers and don’t even know about financial dailies. Thus The Hindu should be make a strong marketing strategy. They should promote Business Line in such a way that it reach out to a wide range of customers. Once the customer know about the benefits offered by Business Line, they will surely subscribed it and Business line would become a power brand in the field of financial dailies. Now it is a aspiring brand, because so many people like it.
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