Competitive Analysis of all the Business Newspapers with reference to Banking Sector
Shobhit KumarMay 14
2008
**BUSINESS STANDARD**
Challa mall, T.NAGAR, Chennai
A REPORTON
Competitive Analysis of All the Business Newspapers With Respect To the Banking Sector
By
Shobhit KumarBusiness Standard
Date of Submission: 14th May, 2008IBS, Chennai2
Contract:
A REPORTON
Competitive Analysis of All the Business Newspapers With Respect To the Banking SectorBy
Shobhit KumarA Report Submitted in Partial Fulfillment Of the requirements of MBA Program
Distribution List 1. Mr. Paul Morris (Company Guide) 2. Dr. R. Venkatesh (Faculty Guide)
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ACKNOWLEDGEMENT
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AcknowledgementThis report could not have been written without Mr. Paul Morris who not only served as our supervisor but also encouraged and guided us throughout our research study. He along with our Faculty in charge, Dr. R. Venkatesh patiently guided us through the research report process, never accepting less than our best efforts. I would like to appreciate the help of my friends also who guided me at each step during the completion of this report. I thank them all.
Date Place
May 14, 2008 Chennai
Dr. R. Venkatesh
Mr. Paul Morris
To whomsoever it may concern5
Subject SIP Completion LetterThis is to certify that Shobhit Kumar has successfully completed his summer internship programme at Business Standard from Feb 08 to May 08.
The project has been completed to companys satisfaction and the copy of presentation/report is submitted to him.
There are no reports/dues from her side pending to the organization.
Regards, Paul Morris
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A Pen is mightier than a sword
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Just Like news creates history & not wars
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Sample Copy of Business Standard
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TABLE OF CONTENTS
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Table of ContentsAcknowledgements
List of Illustrations
History 1. Abstract
1.1 1.2 1.3
Purpose, Scope & Limitations Sources and methods Report Organization
2. Industrial Analysis
2.1 2.2
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3.
Conclusions and Recommendations
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4. Appendices
5. References
LIST of Illustrations
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List of Illustrations1.
Age Wise Distribution of the Readership.
2.
Most Preferred Newspaper.
3. Competitive Analysis of the available papers on a. Content of the news b. Areas covered c. Price d. Delivery Schedule e. Supplements
4.
List of expectations from the customers.
5. Total readers of all available Business Dailies.
6. Fact File of all the Business Dailies.
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*Major Financial Dailies available in Chennai
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Some other brands present namely: 1. Financial Express 2. Business Chronicle
Basic parameters of competition
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1. Price indicates price per copy & annual subscription rate. 2. Service indicates supply chain & delivery time of paper. 3. Content includes news matter & the quality of supplements.
How The Economic Times scores over Business Standard
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Price Supply Chain Brand Loyal Customers Other leading papers in the kitty
Market leader image
Crispy & reader friendly news
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Company Profile ..
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Business StandardHistory Revealed
Business Standard is a financial daily from Business Standard Ltd (BSL). It is published in three languages (English, Hindi and Gujarati) from 22 centers in India. The main English edition comes out from 12 centers - Mumbai, New Delhi, Kolkata, Bangalore, Chennai, Ahmadabad, Hyderabad, Chandigarh, Pune, Lucknow, Bhubaneswar and Kochi - and reaches readers in over 1000 towns across the country. Started in 1975 by the Ananda Bazaar group in what was then Calcutta, the paper was hived off as a separate company in 1996, and then bought by Mumbai-based 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, and earlier was the editor of The Economic Times. Business Standard sells 1,84,000 copies daily, and has a reputation for responsible journalism and for its stimulating editorial page. It has pioneered the ranking of the wealthiest Indians (in the Billionaire Club), and offers along with the paper free monthly magazines on motoring and aviation. The paper recently started its Sunday edition from three publishing centers. The Hindi paper is a first. Launched in February 2008, it was followed very closely by the Gujarati edition. The first, which comes out from seven centers, is edited by Bhupesh Bhandari. The Gujarati edition has Rajesh Bhayani as the editor. The newspaper's website is business-standard.com. BSL also publishes periodicals, including BS Motoring, Indian Management and the Asian Management Review.
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Leading Business Dailies ---- A Fact File
The Economic TimesThe Economic Times, launched in 1961, is India's largest financial daily and the world's second largest financial daily after The Wall Street Journal, with a daily readership of over 650,000 copies. It is published by India's largest media group, Bennett, Coleman & Co Ltd. The Founder / Editor of the paper when it was launched in 1961 were P.S. Hariharan. The current Executive Editor of The Economic Times is Rahul Joshi. Rahul Joshi is known for his mastery over the conception as well as expression of thought. Supplements Brand Equity (Weekly) - this is a weekly color supplement that appears every Wednesday, which covers marketing, advertising, media and market research. Corporate Dossier is a supplement that appears every Friday, along with The Economic Times aimed at the CEOs of corporate India, with a special focus on management and strategy. ET Travel is a weekly all-colour supplement which covers travel and tourism aimed at the burgeoning band of Indians who want to see and know about their country and the rest of the world -- through Indian eyes. ET Auto Mania is a weekly all-color supplement covering all aspects from the auto industry from new launches and trends to ancillaries and personalities.
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Business StandardBusiness Standard is a financial daily from Business Standard Ltd (BSL). It is published in three languages (English, Hindi and Gujarati) from 22 centers in India. The main English edition comes out from 12 centers - Mumbai, New Delhi, Kolkata, Bangalore, Chennai, Ahmadabad, Hyderabad, Chandigarh, Pune, Lucknow, Bhubaneswar and Kochi - and reaches readers in over 800 towns across the country. Started in 1975 by the Ananda Bazaar group in what was then Calcutta, the paper was hived off as a separate company in 1996, and then bought by Mumbai-based 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, and earlier was the editor of The Economic Times. Business Standard sells 170,000 copies daily, and has a reputation for responsible journalism and for its stimulating editorial page. It has pioneered the ranking of the wealthiest Indians (in the Billionaire Club), and offers along with the paper free monthly magazines on motoring and aviation. The paper recently started its Sunday edition from three publishing centers. The Hindi paper is a first. Launched in February 2008, it was followed very closely by the Gujarati edition. The first, which comes out from seven centers, is edited by Bhupesh Bhandari. The Gujarati edition has Rajesh Bhayani as the editor. The newspaper's website is business-standard.com. BSL also publishes periodicals, including BS Motoring, Indian Management and the Asian Management Review.
The newspaper believes in free, fair and independent journalism and strives to inculcate these values in its editorial staff. The journalism practised by Business Standard lays equal stress on quality, credibility and accuracy. The Financial Times of London has taken an equity stake in BSL.21
Business Standard has the country's best economic journalists and columnists working for it. It is edited by T.N. Ninan, perhaps Indias best-known business journalist, who had earlier undertaken a complete and highly successful revamp of The Economic Times and was responsible for its phenomenal growth. Among the other senior journalists in the team are A. K.Bhattacharya, former editor of The Pioneer and associate editor of The Economic Times, and Shyamal Majumdar, former resident editor of The Financial Express. Business Standards stable of specialist contributors includes some of the sharpest minds in economics and business. Among them: Shankar Acharya, former chief economic advisor, government of India, Subir Gokarn, chief economist, Crisil, Deepak Lal, professor of economics, UCLA, Bibek Debroy, director, Rajiv Gandhi Institute for Contemporary Studies, Suman Bery, director-general, National Council of Applied Economic Research, Alexander Nicoll, assistant director, International Institute for Strategic Studies, and Arvind Singhal, chairman, KSA Technopak. The newspapers columnists include Surjit Bhalla, TCA SrinivasaRaghavan, Sunil Jain and AV Rajwade. Apart from a business newspaper, BSL publishes several periodicals, including BS Motoring, Indian Management, and Routes: the Gateway Magazine (a lifestyle magazine). The company sees content creation, content processing and content management as its core competence. It offers complete outsourcing solutions for organisations which want to bring out in-house or private publications but lack the people and/or resources to do it cost-effectively. The web properties of BSL, including the online edition of Business Standard, include business-standard.com and bsmotoring.com. At business-standard.com, you have access to one of the best repositories of Indian and global business news. Apart from the flagship publication, the website also features content from The Smart Investor (weekly), The Strategist (Weekly), Ice22
World (Fortnightly), Indian Management (Monthly), BS Motoring (monthly) and Routes: The Gateway Magazine (Monthly). Business Standard Motoring is one of India's oldest and most passionate magazines dedicated to cars, motorcycles and all kinds of other interesting vehicles. And we are the most fun to read too. The standalone print edition goes out to 35,000 people every month and covers testing, comparison tests, interest stories, motorsport, features, classics, travel, Indian news and international news/events. A condensed version of the print edition also goes out to 1, 00,000 people every month with the Business Standard, India's finest business newspaper. Business Standard Motoring also appears on the Weekend Business Standard as the last page with more news oriented content, plus our popular interactive section.
The Financial ExpressThe Indian Express Group was the unifying voice behind Indias struggle for independence. The Indian Express began its journey in 1932. Since then, the Group has grown from strength to strength. From a single edition to 35 national editions, 14 publication centers and 7 language dailies that reach over 19 million people across country. For the millions of readers, the name "Indian Express" evokes a feeling of trust. Published from 21 centers across the country, the newspaper has been identified with credible and fiercely independent journalism in India. One of the most influential newspapers of the Indian subcontinent, The Indian Express has been the watchdog for the Indian people, treading the terrains of investigative and proactive journalism.
Business Line23
Business Line or The Hindu Business Line is an Indian business newspaper published by Kasturi and Sons, the publishers of the newspaper The Hindu. It is the only white paper on Business. It is also ideal for a reader who is not from the Business fraternity but wants to know what is happening in the world of Business.
Supplements
MONDAY
E WORLD: Keep up with whats new in technology, computers and latest gadgets & the business of technology.
THURSDAY
Brand Line: Know the why, how and when of branding. From those who live it.
FRIDAY
Life: All you need to live the good life. The latest on lifestyle, leisure and wellness.
Pricing
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It is priced at Indian Rupees 4 on weekdays and Saturdays and Indian Rupees 3 on Sundays. While other newspapers like The Economic Times and The Financial Express price their Saturday and Sunday editions at Rs.7 to Rs.10, Business Line has traditionally priced the paper same throughout the week. Other Business newspapers like Business Standard don't publish on Sundays.
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AbstractThis report is all about the research work undertaken to know the behavior casted by the different readers while studying the available business dailies in Chennai. It is already known that nowadays there is a tough fight for the consumers sensory organs as to what to do to make ourselves hear, feel and see. In this era of competition and clutter in almost every field, newspapers are no longer behind. Cut throat competition exists here also. The economic Times, Business Standard, Business Line as to name a few are in this business for a quite longer period of time. In the research undertaken it was very clear that there is not even a slight tinge of doubt that intense competition exists here also. The purpose of this report is to clearly demarcate the reading habits and preferences of the readers of the business dailies. In this part we undertook the areas like the age, time spend daily on newspapers, competitive analysis based on content of the news, areas covered, price wars and the quality of the editorials & the supplements given daily. The very purpose of this report start fetching results when we went on to survey the existing & potential customers. The areas undertaken by us were banks & it was indeed a nice experience to survey the reading habits of the bank employees. This report provides a wide scope as it covers the reading preferences of the bank employees, existing customers working except the banks & the persons working in IT companies and broking houses. The behavior shown by each class of customers is totally different to that of others. The skills possessed by the bank employee can be different as to that of an IT employee. Due to this fact the scope of this research gets widened. The findings of this research can be used as a data to know as to which newspaper brand is standing where and what other measures can be devised to show a more positive result favorable to that company. Coming to the limitations it is also an area not to be overlooked. Actually the findings are based on the sample collected through questionnaires and interviews,26
the actual results may vary from the census method. Research through samples was the only method to proceed with the report as its a very hectic job to collect the information from going to each and every individual. In that case there is every possibility that the results will definitely vary. Also during the interviews it totally depends on the interviewee as to how he reacts and responds to the interviewer. So these are the limitations which can slightly deviate our study with the actual. The main tool taken into account was personal interviews & questionnaires. We selected the customers from the database provided by the company and then divided among the available customers as to who should be resorted to questionnaires and whom to interview personally. Generally the corporate were subjected to personal interviews while the general classes of customers were given questionnaires to mark their response. We selected a sample of 100 customers and did our whole study on them as they represented the whole population. Those 100 customers were further divided among subjection to questionnaires and interviews. In the questionnaire portion we gave the customers around 15 open and closed ended questions to mark their response 7 in the personal interviews we subjected each customers to a maximum of 10 mins subject to time constraint. Inspite of that before approaching any corporate or educational institutions we use to mail them a corporate subscription package material in a prescribed format to make them know well about the company and the offerings.
A sample copy of the Corporate Subscription Package and the questionnaire is attached in the coming pages. Worth Taking
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MAKE YOUR OWN STANDARDS WITH BUSINESS STANDARD
To, The administration, Business Standard is one of the most credible and premium business daily Business Standard has proved to be the preferred choice of Indian business men and decision makers. Business Standard is a world class business newspaper in partnership with Financial Times of London. Business Standard daily dedicates one page on International news edited by Financial Times daily. The Business Standard and its supplements empower the reader with relevant information in the ever-changing environment. The following are the value additions we offer the readers.
WEEKLY VALUE ADS:
Smart Investor (Every Monday): With focus on new issues and industries in the limelight, along with a detailed analysis on the stocks in action for the week gone by, this 2 page tabloid equips the reader for the week ahead. The Strategist (Every Tuesday): A scrutiny of the critical issues of management and marketing, with case studies, tips on successful strategy execution and columns by the worlds foremost management Gurus. BS Weekend (Saturday): An absorbing feature on lifestyles, personalities, and on the lighter aspects like cinema, stage, art and music.
FREE MAGAZINES (INVESTORS GUIDE):
Motoring A monthly magazine exclusively dedicated to the automobile industry.28
The Fund Manager: Facts and figures on Mutual Funds. The Billionaire club: The only listing of Indias Movers and Shakers. Banking Annual: A detailed insight into the performance of the banking industry. BS 1000: A detailed guide to Indias top 1000 companies Spend: A bi-annual magazine showcasing the latest trends in high fashion accessories Open sky: A magazine on Aviation Industry which throws light on the rapidly growing sector of India.
Business Standard is priced at Rs.4 on weekdays Rs.6 on Saturdays and at present we do not have an edition on Sundays. We are pleased to offer the services of Business Standard to you at an offer price of Rs.550/- for an annual subscription. Regards, Shobhit Kumar
Questionnaire Sample (As given to the customers)
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Business Standard *Matching Your Standards*1. Name (In Block Letters)
---------First Name
------------ ---------Middle Name Last Name
2. Age (In Years) 3. Occupation
15-25
25-35
35-45
45 & above
Govt. Employee Pvt. Employee Own Business Student Retired
4. Salary (Per Annum)(Rs in Lacs)
2-3 3-4 4-5 5 & above
5. Which newspaper you read daily (Tick more than One if required) Business Standard Deccan Chronicle The Economic Times The Hindu Business Line 6. What all you look for in a newspaper? Subject Matter (Content)30
Supplements Price Areas Covered (Extent of news) 7. Are you satisfied with the delivery time of Business Standard? Very Much Good To an extent not at all
8. What prompts you to go for Business Standard? Content of the news Editorial Section Supplements with the paper Magazines (Open Sky, Motoring) Price 9. Compare the following newspapers on the basis Of Business Standard The Economic Times Business Line(News & Supplements)
Business Standard the Economic Times Business Line(Price & Delivery)
Business Standard The Economic Times Business Line
Business Standard the Economic Times Business Line31
(Promotional Offers) specify)
(Any others,
10. I read Business Standard daily because -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
11. Business Standard proves to be a helpful stuff as it Provides -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
12. Business Standard is a very informative stuff to the Banks as it provides -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
13. What improvements you would suggest for Business Standard? --------------------------------------------------------------------------------------32
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14. Any other suggestions? Please Specify. -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Date
Thank You
What is Competitive Analysis?Competition is the rivalry of two or more parties over something. Competitionoccurs naturally between living organisms which coexist in the same environment. For example, animals compete over water supplies, food, and mates. In addition, humans compete for attention, wealth, prestige, and fame.33
Competition can be remote, as in a free throw contest, or antagonistic, as in a standard basketball game. These contests are similar, but in the first one player are isolated from each other, while in the second one they are able to interfere with the performance of their competitors. Competition gives incentives for self improvement. If two watchmakers are competing for business, they will lower their prices and improve their products to increase their sales. If birds compete for a limited water supply during a drought, the more suited birds will survive to reproduce and improve the population. Rivals will often refer to their competitors as "the competition".
Cooperative competition vs. Destructive competitionDestructive competitionDestructive competition seeks to benefit an individual/group/organism by damaging/eliminating competing individuals/groups/organisms; it opposes the desire for mutual survival - it is winner takes all. The rationale being that the challenge is a zero-sum game; the success of one group is dependent on the failure of the other competing groups. Destructive competition tends to promote fear, a first-strike mentality and embraces certain forms of trespass.
Cooperative competitionCooperative competition is based upon promoting mutual survival - everyone wins. Adam Smiths invisible hand is a process where individuals compete to improve their level of happiness but compete in a cooperative manner through peaceful exchange and without violating other people. Cooperative competition focuses individuals/groups/organisms against the environment.
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COMPETITOR ANALYSISCompetitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context through which to identify opportunities and threats. Competitor profiling coalesces all of the relevant sources of competitor analysis into one framework in the support of efficient and effective strategy formulation, implementation, monitoring and adjustment. Given that competitor analysis is an essential component of corporate strategy, Porter (1980, 1998) argued that most firms do not conduct this type of analysis systematically enough. Instead, many enterprises operate on what he calls informal impressions, conjectures, and intuition gained through the tidbits of information about competitors every manager continually receives. As a result, traditional environmental scanning places many firms at risk of dangerous competitive blind spots due to a lack of robust competitor analysis.
Competitor ArrayOne common and useful technique is constructing a competitor array. The steps include: define your industry - scope and nature of the industry determine who your competitors are determine who your customers are and what benefits they expect determine what the key success factors are in your industry Rank the key success factors by giving each one a weighting - The sum of all the weightings must add up to one. rate each competitor on each of the key success factors Multiply each cell in the matrix by the factor weighting. Sum columns for a weighted assessment of the overall strength of each competitor relative to each other.
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This can best be displayed on a two dimensional matrix - competitors along the top and key success factors down the side. An example of a competitor array follows:
Key Industry Competitor Success Weighting # 1 rating Factors
Competitor Competitor #1 weighted #2 rating
Competitor #2 weighted
1 - Extensive .4 distribution 2 - Customer .3 focus 3 - Economies .2 of scale 4 - Product .1 innovation Totals 1.0
6
2.4
3
1.2
4
1.2
5
1.5
3
.6
3
.6
7 20
.7 4.9
4 18
.4 3.7
In this example competitor #1 is rated higher than competitor #2 on product innovation ability (7 out of 10, compared to 4 out of 10) and distribution networks (6 out of 10), but competitor #2 is rated higher on customer focus (5 out of 10). Overall, competitor #1 is rated slightly higher than competitor #2 (20 out of 40 compared to 18 out of 40). When the success factors are weighted according to their importance, competitor #1 gets a far better rating (4.9 compared to 3.7). Two additional columns can be added. In one column you can rate your own company on each of the key success factors (try to be objective and honest). In another column you can list benchmarks. They are the ideal standards of comparisons on each of the factors. They reflect the workings of a company using all the industry's best practices.36
Competitor profilingThe strategic rationale of competitor profiling is powerfully simple. Superior knowledge of rivals offers a legitimate source of competitive advantage. The raw material of competitive advantage consists of offering superior customer value in the firms chosen market. The definitive characteristic of customer value is the adjective, superior. Customer value is defined relative to rival offerings making competitor knowledge an intrinsic component of corporate strategy. Profiling facilitates this strategic objective in three important ways. First, profiling can reveal strategic weaknesses in rivals that the firm may exploit. Second, the proactive stance of competitor profiling will allow the firm to anticipate the strategic response of their rivals to the firms planned strategies, the strategies of other competing firms, and changes in the environment. Third, this proactive knowledge will give the firms strategic agility. Offensive strategy can be implemented more quickly in order to exploit opportunities and capitalize on strengths. Similarly, defensive strategy can be employed more deftly in order to counter the threat of rival firms from exploiting the firms own weaknesses [3]. Clearly, those firms practicing systematic and advanced competitor profiling have a significant advantage. As such, a comprehensive profiling capability is rapidly becoming a core competence required for successful competition. An appropriate analogy is to consider this advantage as akin to having a good idea of the next move that your opponent in a chess match will make. By staying one move ahead, checkmate is one step closer. Indeed, as in chess, a good offense is the best defense in the game of business as well. A common technique is to create detailed profiles on each of your major competitors. These profiles give an in-depth description of the competitor's background, finances, products, markets, facilities, personnel, and strategies. This involves:
Background37
Location of offices, plants, and online presences History - key personalities, dates, events, and trends Ownership, corporate governance, and organizational structure
Financials P-E ratios, dividend policy, and profitability** various financial ratios, liquidity and cash flow Profit growth profile; method of growth (organic or acquisitive)
Products Products offered, depth and breadth of product line, and product portfolio balance New products developed, new product success rate, and R&D strengths Brands, strength of brand portfolio, brand loyalty and brand awareness Patents and licenses Quality control conformance Reverse engineering
Marketing Segments served, market shares, customer base, growth rate, and customer loyalty Promotional mix, promotional budgets, advertising themes, ad agency used, sales force success rate, online promotional strategy Distribution channels used (direct & indirect), exclusivity agreements, alliances, and geographical coverage38
Pricing, discounts, and allowances
Facilities Plant capacity, capacity utilization rate, age of plant, plant efficiency, capital investment Location, shipping logistics, and product mix by plant
Personnel Number of employees, key employees, and skill sets Strength of management, and management style Compensation, benefits, and employee morale & retention rates
Corporate and marketing strategies Objectives, mission divestitures Marketing strategies statement, growth plans, acquisitions, and
Media scanningScanning competitor's ads can reveal much about what that competitor believes about marketing and their target market. Changes in a competitor's advertising message can reveal new product offerings, new production processes, a new branding strategy, a new positioning strategy, a new segmentation strategy, line extensions and contractions, problems with previous positions, insights from recent marketing or product research, a new strategic direction, a new source of sustainable competitive advantage, or value migrations within the industry. It might also indicate a new pricing strategy such as penetration, price discrimination, price skimming, product bundling, joint product pricing, discounts, or loss leaders. It may also indicate a new promotion strategy such as push, pull,39
balanced, short term sales generation, long term image creation, informational, comparative, affective, reminder, new creative objectives, new unique selling proposition, new creative concepts, appeals, tone, and themes, or a new advertising agency. It might also indicate a new distribution strategy, new distribution partners, more extensive distribution, more intensive distribution, a change in geographical focus, or exclusive distribution. Little of this intelligence is definitive: additional information is needed before conclusions should be drawn. A competitor's media strategy reveals budget allocation, segmentation and targeting strategy, and selectivity and focus. From a tactical perspective, it can also be used to help a manager implement his own media plan. By knowing the competitor's media buy, media selection, frequency, reach, continuity, schedules, and flights, the manager can arrange his own media plan so that they do not coincide. Other sources of corporate intelligence include trade shows, patent filings, mutual customers, annual reports, and trade associations. Some firms hire competitor intelligence professionals to obtain this information. The Society of Competitive Intelligence Professionals maintains a listing of individuals who provide these services.
New competitorsIn addition to analyzing current competitors, it is necessary to estimate future competitive threats. The most common sources of new competitors are: Companies competing in a related product/market Companies using related technologies Companies already targeting your prime market segment but with unrelated products Companies from other geographical areas and with similar products New start-up companies organized by former employees and/or managers of existing companies
The entrance of new competitors is likely when:40
There are high profit margins in the industry There is unmet demand (insufficient supply) in the industry There are no major barriers to entry There is future growth potential Competitive rivalry is not intense Gaining a competitive advantage over existing firms is feasible
Fierce Business CompetitionWHY IS THIS IMPORTANT? Increased competition is being driven by many factors, including the emergence of a global marketplace, the increased number of firms, new technology that makes it easier for firms to enter new markets, and ever-increasing pressure from securities markets to raise shareholder value. In particular, the frenetic atmosphere of mergers and acquisitions, coupled with the increased number of large institutional investors, has meant that firms that do not cut costs and improve financial performance face swift action in equity markets. This competition has meant that companies are less able to insulate workers (e.g., keep wages or the number of employees higher than the market can allow), or invest in "public goods" such as basic research or employee training. In 1992, three-fourths of 531 corporations surveyed identified economic pressures from competitors as one of the primary factors motivating their restructuring efforts.
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Business Line & Business Standard Comparison
Business Line BL circulation is around 130,000 copies in 14 locations Circulation of BL on Sunday higher No other language published Price is high i.e. Rs 4 on weekdays & Rs 3 on sat & sun. No magazines are provided42
Business Standard
BS Circulation is 170,000 copies, reaches to 800 towns
No Sunday Issue Available on the net Published in three language Editorial Page is highly appreciated A Page of Financial Times Language & presentation is worth reading.
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Economic Times Vs Business Standard
Economic Times Started in 1961
Indias largest financial daily and the worlds second largest after The Wall Street Journal.
Daily readership of over 750,000 copies. It is published by India's largest media group, Bennett, Coleman & Co Ltd.
Business Standard Started in 1975 Biggest competitor of The Economic Times. It is published in three languages (English, Hindi and Gujarati) from 22 centers in India. Reaches readers in over 800 towns across the country.
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IntroductionResearch Topic Competitive Analysis of all the business newspaper withrespect to Banking Sector.
Research ObjectiveThe purpose of doing this project was mainly to gain knowledge of reading habits of customers (Business Dailies), and learn about how this habit help them in their day to day activities. The project aimed at knowing different types of newspapers available and the customer base of each of them. The competitive moves of each of the rivals were taken into consideration as to what move they do to lure the customers. To illustrate the reasons for selecting this topic are as follows: To gain in depth knowledge of Business Standard. It gives a platform to know about the other brands available in the market. Gives a competitive analysis of Business Standard and others. It gives a clear picture of the positioning of Business Standard in the market. It will give me to select prominent parameter for comparison which will be beneficial for my findings. This project will give me the base to apply my theoretical knowledge in the practical world. Helps Business Standard gain competitive advantage.
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Research DescriptionIn todays scenario reading newspapers defy any description. It has become indispensable for every individual to gain edge over other in terms of recent happenings and business knowledge. This project mainly focuses on the various kinds of newspapers available in the market and the position of Business Standard among them. It involves collection of data of various private as well as public sector banks in Chennai and analyzing the employees working out there.
SignificanceDoing this project has a wide scope of study for Business Standard as well as for me. For the company it will give a comparative analysis as to the current market position and the customer base as well as the moves of the competitors. For me, this has provided a platform to learn the actual concept of the readership behavior as well as the offerings of Business Standard and their competitors.
Research ProcessThe report was analyzed from a sample size of 100 representing the whole population of customers studying business dailies. Along with that personal interviews were also taken into account as a source of survey. The lists of the customers were taken randomly from the company database, from yellow pages and from the local vendors who use to deliver the different types of business dailies all over to Chennai.
Steps Undertaken:46
1. Collect the information about the customers from the company database, from yellow pages and from the local vendors. 2. Before approaching the customers make a call to him and seek the permission. 3. If the customer is not free that time ask for some other date and in the mean time ask for the mail id and send the Business standard subscription package and inform the customer to go through it. 4. At the time of meeting we first asked about the readership habits of the customers towards business dailies and if its there, then ask for the particular newspaper. 5. After that we ask for the analysis part from the customers mouth only as to the content of the news, any specific problems pertaining to the availability, price, delivery etc. 6. All the complaint along with any recommendations given by the customer is properly take into consideration and then we ask them to fill the questionnaire. 7. The customers were properly guided in getting the questionnaires filled up and then we analyzed the questionnaires and provided the results through histograms, pie charts and bar graphs.8.
In case of the corporate and the educational institutions we went for personal interviews instead of getting questionnaires filled up.
9. The natures of the interviews were generally one to one and the types of questions asked generally matched the one given in the questionnaire.
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SWOT Analysis of Business StandardStrength Weakness Opportunities Threat
News Content
Supply Chain
Increase contents
the Customers turnout
Magazines
Customers Perception Sunday Edition unavailability Late Entrant
Presence Sundays
on Increasing competition
Second Best image
Price Reduction to an extent More publicity
Editorials
Wider Coverage
Ineffective Positioning
With the economy growing at over 8 per cent, there is a big demand for information
Umbrella head Financial Times
of
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Commitment from the Business Standard
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Methods of Data Collection
Primary Sources Sources 1. Questionnaires 2. Personal Interviews 3. Word of mouth
Secondary 1. Past records 2. Company Database 3. Internet
Sampling Procedure1.Sample size taken 100 2.Type of sample Simple random Sample 3.Place of operation Chennai 4.Target Customers Already subscribed one, educational institutions. 5.Survey Methodology Personal Interviews and Questionnaires.
Analysis of the survey tools taken into consideration50
*Analysis as per the total readership in Chennai.
Customers who are price sensitive (Daily as well as annual subscription)
51
Analysis of the Questionnaire given to customers
52
Age (In Years)
15-25
25-35
35-45
45 & above
53
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What all you look for in a newspaper? Subject Matter (Content) Supplements Price Areas Covered (Extent of news)
Points The Economic Times Business Standard Business Line Financial Chronicle
Subject Matter 78%
Supplements 11%
Price 4%
Areas 7%
8o% 81% 88%
4% 9% 4%
11% 7% 5%
5% 3% 3%
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Are you satisfied with the delivery time of Business Standard? Very Much Good To an extent not at all
56
What prompts you to go for Business Standard? Content of the news Editorial Section Supplements with the paper Magazines (Open Sky, Motoring) Price
57
Chi Square Test using SPSS
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Conclusion and Recommendations:As per the study carried out through personal interviews and questionnaires we came across different patterns of consumer behavior regarding the reading habits of business newspaper. The areas taken into consideration being the corporates and the banks revealed that in almost all the banks you can find a copy of business newspaper be it Business Standard, The Economic Times or Business Line. All the papers complete in every aspect and able to cater to the needs of every reader yet a lot of differences can be adhered to. The very area of demarcation is the price and timely delivery. Very sadly this area is still the weakest point of Business Standard as we faced a lot of customer complaint regarding high price as well as untimely delivery. Next comes the content of the news and the editorial segment as well as the areas covered. Here surely Business Standard comes very clearly as every customer we met gave a positive response on it. Also the supplements provided by Business Standard were highly appreciated as it covered different areas like Aviation, Automobiles etc. Also the customers get easily carried away when we use to say them that along with the annual subscription of the paper you will be getting around 30 magazines free of cost. The magazines provided under Business Standard are sure the positive blocks of success as the customers were very glad to have magazines like this.
The points to recommend under this research report are mainly related from the point of Business Standard. Nevertheless to say that the Economic Times is the undisputed market leader and Business Standard have a hard way to hit this leader with none of a weak area. Positive in all aspects be it content of the news, price, editorial segment, supplements and delivery schedule this market leader beats Business Standard in all areas.59
This research study clearly indicates that the main tussle is between The Economic Times and Business Standard. Business Line and Financial Express are still under dormant stage while Business standard is undoubtedly under growth stage.
Some points to recommend to Business Standard are:1. Relook into the supply chain --- The biggest weak point of Business Standard. Infact it has to re engineer its supply chain from the scratch. A hell lot of negative response from the customers side and indeed the main reason for the decreasing customer base as well as growing tarnishing image of the company.
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Price Wars ---- See the irony, The Economic Times being the undisputed market champion has the lowest price among all the business dailies but business standard still in the growth phase instead on being the safe side by quoting lower price charges a higher price from its customers.
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Challenges & Road Ahead
Relook into the supply chain properly. If possible, set the price accordingly. Market the product accordingly. Go with some promotional strategies.
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Referenceswww.google.com www.wikipedia.com www.yellowpages.com www.chennai.in www.fundoodata.com Marketing Management, Philip Kotler Marketing Management, Ramaswamy & Namakumari
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