TOPIC

CRITERIA USED BY CUSTOMERS IN SELECTING BRANDS OF FINANCIAL NEWSPAPER

(CONSUMER BEHAVIOR)

Presented by:

Abdulkader Baji

Roll No.:09MMS

2011- 2013

Vivekananda Education Society’sInstitute Of Management Studies And Research

Chembur, Mumbai.

Objective

Studies buyer’s decision making

Useful in making various marketing decisions

Helps to reduce the risk in decision making.

About Business Standard

One of the oldest and most credible financial daily

Started in 1975 by Anand Bazaar Group

Growing rapidly & consistently, it is circulated in more than 1000 cities across the country

Published from 12 locations in English and Hindi

Combined readership of over 200000

About Business Standard

Chairman – T.N. Ninan

Chief Editor – A.K. Bhattacharya

Regular Columnist – Pranab Bardhan Surjit Bhalla Bimal Jalan Nitin Desai Gurucharan Desai Indira Rajaraman Ajit Ranade

VISION, MISSION AND ETHICS

Vision: To expand the market-share of Business Standard amongst the

potential market present in the Indian market and also to ensure that the publication be the best in the country.

Mission: To stand at respectful position in this marathon and keep up

with the pace of the changing needs of our valuable readers so as to win more and more readers and also to being backed up by a strong product company needs to deliver.

Business Ethics: Business Standard is a neutral and most credible business

newspaper. It is a discipline of collecting, analyzing, verifying and presenting information regarding current events, trends, issues and people.

Competitors

The Economic Times Business Line Financial Express Mint Financial Chronicle

ON THE JOB TRAINING

Two days Induction program

We were trained there on different products and properties of Business Standard

Catalogues for the different products under brand BS like Business Standard Broadsheet, Business Standard – Hindi, BS – Motoring, Fund Manager, BS – 1000, Banking Annual etc.

Trained by our Area Sales Manager and the Marketing Manager on the lines of pitching any customer for sales.

Job Profile

Worked as a research cum sales executive

Approach -

Quantitative Survey and subscription sale

Collected through a hard copy questionnaire

How did we work??

Interns were divided into teams

Headed by a BS employee

Meeting on daily basis

Data was provided by the TL

Approaching the Customers

Direct Selling (Door to Door Selling)

Tele Sales

Reference from the customers

Target Customers

Corporate executives Investors and Stock brokers Businessmen Bankers Management students and professors Chartered Accountants & other

Professionals Students

Research Methodology

Data Source Primary data source- Questionnaire Secondary data source- Internet Sampling area - Mumbai Research instrument - Questionnaire Method of contact - Personal

FINDINGS

Majority of the targeted customer read a financial newspaper

Most of the people prefer a general newspaper

People decides to start reading the paper read by the elders at home as well as people from same profession

Coverage plays an important role

FINDINGS

Preferred Brand

Below 25

25 – 30

Above 30

Total

Business Line 5 3 2 10

Business Standard

2 3 4 9

The Economic Times

10 12 5 27

The Indian Express

0 0 1 1

Mint 2 1 0 3

19 19 12 50

FINDINGS

BS is the third most preferred brand after ET and BL.

It is also noticed that evcryone does not read a business newspaper daily.

People are satisfied with the paper they read.

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

Learnings

Selling skills

Customer behaviour

How to handle a customer’s complaint

Handling clashes with the TL/superiors

Recommendations

Competitive pricing

Come up with new creative advertisements

Build proper positioning in the minds of the readers

Service check calls at regular intervals

Make some events with corporate to spread awareness

Collaborate with B-schools to provide copy of daily at their home.

 

Recommendations

Increase the font size of stock detail

Give more job related advertisements

Improve print quality

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

1) Do you read a financial newspaper ? 2) Which business newspapers do you read? 3) How frequently do you read a business

newspaper? 4)How much time do you spend reading a

newspaper 5)How do you get your business newspaper?

6)Do you find difficulty in the language of the economic daily

7)Which factors do you consider while purchasing the newspaper

8) Which other Newspapers have you read? 9) How did you decide upon which business newspaper

to read?

10)Are You Satisfied with your decision of purchasing the financial newspaper?