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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