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“To study the segmentation, targeting and analyze the positioning of Business
Economics in comparison to other business magazines”
carried out at
Submitted By
SK AFSAR MONDAL
Each & every activity is started for the accomplishment of goals & for this purpose management
is required. As being student of MBA, a management stream, we have to go in different
industrial units for practical knowledge & practical training.
A project is a systematic and scientific study of market problem with application of management
skill and concepts. The present era is an era “brand marketing”. The business of brand marketing
may be compare to the game of chess it is too hard to service in the market because market is full
of competition of on it environment both internal and external .Every company has to recognize
its strength and weakness, opportunities and threat.
I was assigned a study of the application of “To study segmentation, targeting and analyze the
positioning of Business Standard newspaper in comparison with other financial newspaper” at
BUSINESS ECONOMICS, KOLKATA.
This report has been complied primary fulfillment of the requirement for MBA course.
Secondary is to share the practical knowledge and real experience in the industry .The details
mention in this report is based on real situation and research.
I hope the report will be special interest to the marketing students who are on look for such real
life situation beyond their class room study.
ACKNOWLEDGEMENT
I am extremely grateful to BUSINESS ECONOMICS for giving me this opportunity, which very few
students can get.
First and foremost, I extend my gratitude to INTERNATIONAL INSTITUTE of BUSINESS STUDIES for
extensive co-operation in handling the project. I am also very glad-full to Mr. SOURAV BHOWMIK,
(BUSINESS DEVELOPEMENT EXECUTIVE), for giving me the opportunity to complete my internship
programs in BUSINESS ECONOMICS.
I would like to thank all my faculties and especially who helped me to give this project a shape. I would
like to thank all the committed and dedicated members of the Business Economics for cooperating with
me at every stage in order to complete the project and helped me learn.
I thank my college and especially Mr. SOUREN KONER, who has shown me the path to reach Business
Economics and undertaken this project. Finally at the last but not the least, I want to thank Mr.
PRAMOD KUMAR SINGH who had given me the opportunity to complete my summer internship project
in BUSINESS ECONOMICS under SREI Group.
SK AFSAR MONDAL
COMPANY PROFILE
Business Economics, following its credo of “exclusive and comprehensive” coverage, is one of
India’s oldest and most popular business magazines. Our aim is to provide our readers with an
all-around perspective on topical and timely issues.
BUSINESSECONOMICS started as a tabloid in 1995 catering to readers from the industry and
academic and research institutions. As its popularity and reach increased, it was re-launched as a
magazine in 2006. BE strives for independent and in-depth analysis and comes out with highly
researched opinion pieces on economics, politics and the society.
After analyzing the data conclusions were drawn related to various facets of Positioning Strategy and
hope that it will be helpful to Business Economics for further improving its Positioning and customer
services. In this project I have tried my best to apply the theoretical knowledge to the practical world
so that we can understand the market in most effective way.
The details regarding the finding, recommendations, limitations can be found in further sections of
the report.
OBJECTIVES:
The objective of the project undertaken was to “Study segmentation, targeting and analyze
positioning of Business Economics in comparison to other business magazines”
Primary objectives:
Secondary objective:
1) To form a brand equity of Business Economics in the market.
2) To study company profile of Business Economics.
3) To study the customer satisfaction for Business Economics.
The Internship project commenced on 1st June 2012 and concluded on 31st July 2012.
During the project a research was conducted to study the STP strategy of Business
Economics. Additional task of developing the market of Business Economics in Kolkata
region was allotted.
After identifying market segments the marketer then decides which present the greatest
opportunity- which is its target markets. For each a firm develops a marketing offering that it
positions in the mind of the target buyers as delivering some central benefits. Companies
perform best when they choose their target market carefully and prepare tailor marketing
programs.
SEGMENTATION:
Market segmentation is a marketing strategy that involves dividing a broad target market
into subsets of consumers who have common needs and applications for the relevant
goods and services. Depending on the specific characteristics of the product, these
subsets may be divided by criteria such as age and gender, or other distinctions, like
location or income. Marketing campaigns can then be designed and implemented to
target these specific customer segments.
1) It is possible to measure.
2) It has to be large enough to earn profit.
3) It has to be stable enough that it does not vanish after some time.
4) It is possible to reach potential customer via organization's promotion and
distribution channel.
5) It is internally homogeneous (potential customers in the same segment prefer
the same product qualities).
1) Geographic segmentation:
2) Demographic Segmentation:
3) Psychographic Segmentation:
4) Behavioral Segmentation:
1) Single-Segment Concentration:
2) Selective Specialization:
Here the firm selects a number of segments, each objectively attractive and
appropriate. There may be little or no synergy among the segments, but each
segment promises to be a moneymaker. This multi-segment coverage strategy
has the advantage of diversifying the firm’s risk.
3) Product Specialization:
5) Full Market Coverage: Here a firm attempts to serve all customer groups
with all of the products they might need. Only very large firms can undertake
a full market coverage strategy. Examples include IBM (computer market),
General Motors (vehicle market), and Coca-Cola (drink market). Large firms
can cover a whole market in two broad ways: through undifferentiated
marketing or differentiated marketing.
POSITIONING:
Positioning is the act of designing the company’s offering and image to occupy a distinct
place in the minds of the target market. The goal is to locate the brand in the minds of the
consumers to maximize the potential benefit of the firm. The result of positioning is the
successful creation customer focused value proposition, a cogent reason why customer
should buy the product.
INDUSTRY & PRODUCT PROFILE
The report on the Indian Media & Entertainment (M&E) industry was released at the inaugural
session of FICCI Frames 2014 yesterday. According to the report, the M&E industry is expected
to register a CAGR of 14.2 per cent to touch Rs 1,785.8 billion by 2018 wherein digital
advertising is expected to have the highest CAGR of 27.7 per cent while all other sub-sectors are
expected to grow at a CAGR in the range of 9-18 per cent.
Highlighting the performance during the year gone by, the report said that the Indian M&E
industry registered a growth of 14.2 per cent in 2018 over 2013 and touched Rs 1786 billon. The
overall growth rate remained muted, with a slow GDP growth and a weak rupee. Lower GDP
meant lower demand from the consumer and this impacted advertising. At the same time, the
industry began to see some benefits from the digitization of media products and services, and
growth of regional media. Gaming and digital advertising were the two prominent industry sub-
sectors which recorded a strong growth in 2018 compared to the previous year, albeit on a
smaller base.
The Indian M&E sector showed some resilience and began to grapple seriously with some
structural issues it has long talked about but not engaged with. These include TV and Print
industry measurement, advertising volumes, inventory and rates, actions to see digitization
through and reap its benefits, working out the MSO-LCO relationship, copyright laws and
operational efficiency. Many of these remain alive and will take a few years to sort through.
Others, like Phase III of Radio, are still pending regulatory action.
This year’s report also highlights opportunities that could come from tapping international
markets with a special feature on opportunities in the Middle East and Africa region. The report
also covers the live events market as well as the advertising market separately, along with an
overview of the advertising services market in India.
TELEVISION:
The size of the Television industry in India was estimated at Rs 417 billion in 2013, and
is expected to grow at a CAGR of 16 per cent over 2013-18 to reach Rs 885 billion in
2018. Aided by digitization and the consequent increase in Average Revenue Per User
(ARPU), the share of subscription revenue to the total industry revenue is expected to
increase from 67 per cent in 2013 to 71 per cent in 2018.
TRAI’s efforts to enforce the 12-minute ad cap regulation invited a divided response
from the industry and contributed to the challenges of broadcasters, especially those with
significant dependence on advertising revenues. At an aggregate level, the total TV
advertising market is estimated to have grown around 9 per cent in 2013 to Rs 136
billion, lower than the 11 per cent projected in the report last year. Going forward,
television advertising in India is expected to grow at a CAGR of 13 per cent over 2013-
18, to reach Rs 220 billion.
Subscription revenue:
Calendar 2018 saw the Print industry grow by 9 per cent from Rs 343 billion in 2017 to
Rs 374 billion. The growth achieved was slightly better than KPMG’s estimate of 7.602
per cent last year. The long-term growth in the sector looks promising with industry
players witnessing strong growth and a possible future demand in the regional market.
The print industry is expected to grow at a CAGR of 9 per cent for 2013-18, as against
estimated 8.7 per cent expected last year.
Much of this growth can be attributed to print media’s advertising revenues and the faith
shown by advertisers in this medium. Most advertisers have shunned their cautious
approach, backing the extensive reach and localization benefits that print offers. Some of
the big spending sectors such as FMCG, Retail and Real Estate have increased their
media spend on print this year. Print has also witnessed a boost in advertising revenues
due to the elections in several states last year. Advertising spends by political parties are
expected to benefit the print media this calendar year as well
The print industry continued to derive most (94.4 per cent) of its revenues from the
newspaper category. The Rs 14 billion magazine segment had a roller coaster ride this
year. Some prominent publishing houses discontinued their magazines this year.
Print:
Print 2011 2012 2013 2014p 2015p 2016p 2017p 2018p CAGR
media (2013-
market 18)
Total 139 150 163 179 199 222 248 275 11.10%
advertising
Total 69 75 81 85 88 92 95 99 4.20%
circulation
Total print 209 224 243 264 287 313 343 374 9.00%
market
Total 197 211 230 250 273 300 329 361 9.50%
newspaper
revenue
Total 12 13 14 14 14 14 14 14 0.30%
magazine
revenue
Total 209 224 243 264 287 313 343 374 9.00%
NEW MEDIA:
Digital ad-spend and the landscape Digital advertising in India grew by approximately
38.7 per cent to touch Rs 30.1 billion in 2013. Indian mobile advertising is expected to
grow at 50 per cent and reach Rs 5.1 billion by end- 2014. Digital marketers are
recognizing this trend and are now considering to or are already on their way to execute
‘Mobile-first’ branding and customer engagement strategies. The ad spend in digital
media is set to grow at 37 per cent to reach Rs 41.2 billion in 2014. Google and Face
book account for close to half of the online advertising revenue in Asia, and the
dominance can be attributed to their massive user base.
RADIO:
Like in 2013, the FM radio industry is expected to outpace the growth of overall
advertising revenues in the coming years. With a forecast CAGR of 18.1 per cent till
2018, industry revenues are expected to more than double by 2018. Phase III is also now
looking a reality – there is an expectation that the auctions should commence before
FY14 is over. Phase III rollout is vital for the FM radio industry’s growth.
The other segments of the media industry have all grown by leaps and bounds. More and
more TV channels continue to get launched every year, and today there are 750 plus
channels available. Newspaper groups have launched several new editions of existing
titles as well as new titles across the country. With more transport infrastructure projects
(airports, highways, etc.) getting completed, the Out Of Home (OOH) industry has also
got a boost. And, of course, the internet knows no bounds. Therefore, Radio must
continue to remain competitive. It has had to rely on increasing the utilization of
available advertising inventory, but now with inventories almost fully exhausted, the only
way left to grow further is to have more channels and increase rates. Phase III is expected
to provide the requisite growth impetus.
ADVERTISING:
The advertising industry faced a rough year in 2017 and there were expectations of a
better performance in 2018. But the continued economic slowdown, depreciation of the
rupee and low GDP growth resulted in persistent negative sentiment leading to a muted
growth rate for the industry in 2013.
A minor blip was observed towards the end of the year due to elections and rupee getting
stabilized with the industry reporting an overall growth rate of 10.9 per cent2. 2014 is
expected to be a promising year due to the impending national elections and high
expectations from sectors like FMCG, automobile (multiple new launches planned) and
financial services, with an overall growth of the advertising market projected at 13.1 per
cent.
The market share of TV (37.5 per cent), Print (44.9 per cent) and OOH (5.3 per cent)
reduced compared to 2012 which was substituted by digital (8.3 per cent) and Radio
(4 per cent). Overall, the advertising market is expected to reach Rs 694 billion in
2018 at a compounded annual growth rate (CAGR) of 13.9 per cent.
2014 is expected to perform better than 2013 with an expected advertising revenue
growth rate of 13.1 per cent. Significant amount of growth in ADEx is expected to
come from General Elections alone. Other areas to look for would be automobiles as
the sector is lined up with couple of new launches this year and BFSI which is
expected to grow in the second half due to expected change in policies post election.
Digital media is expected to continue its growth trajectory with projected growth rate
of 36.9 per cent in 2014. TV, Print, Radio and OOH are also expected to perform
better in 2014 with projected growth rate of 11.9 per cent, 10.1 per cent, 13.7 per
cent and 10 per cent respectively. ATL: BTL ratio is expected to reach 50:50 by
2015, as companies are expected to spend on marketing activities in rural areas
(dominated by BTL activities) to push their sales.
Average issue readership:
The Average issue readership numbers have been on a decline due to increased competition
from free content on the Internet and Mobile platforms.
India Today is the highest read English magazine in the county with an AIR of 1,955,000, which
is an 8.7 percent decline in its readership.
The Week has dropped by 4.2 percent and the AIR is 322,000.
Business India stands at 222,000, which is a 7.5 percent decline in its AIR.
Every issue consists of nine sections: World, States, Finance, Economy, Industry, Agriculture,
Environment, Technology and Life. It covers the entire gamut of economic activities in India and
abroad. Thoughtful pieces on socially and politically relevant issues, health, education and
enlightenment are offered to give our readers an all around perspective.
It is now having a total circulation of 85,160 copies with a readership base of 5, 90,000 per issue.
Segment-wise our readers are of A+, A & B+ category and education-wise, most of our readers
are graduates & post graduates. Besides the stand sale of 66,400 copies and subscription of 13,
337 in India; another 5,423 copies are sold in USA, UK, Sri Lanka, Nepal & Dubai.
Besides having a team of highly-qualified and experienced editors, bureaus in Mumbai, Delhi,
Kolkata, Chennai and Kohima as well as a network of correspondents spread across the country
and in New York, London, UAE and Colombo, it has a panel of eminent columnists.
Following order of steps to be taken provide useful guidelines regarding the research process.
Research Design
Sampling
Data Collection
SAMPLING:
Sampling is one of the most fundamental concepts underlying any research work. Most
research studies attempt to make generalization or draw inference regarding the
population. Based on their study of a part of the population that is the sample. The sample
data enables the researchers to correctly estimate the population parameters. While doing
sampling I considered Kolkata region.
Primary data:
Primary data are those which are collected fresh and for the first time, thus happen
to be original character. Both questionnaire and scheduled method are used for
Primary data collection from Rabindrasadan Metro, A.J.C. Bose Road, Dharmatala
New Market Area, Howrah Station, Dharmatala Metro, Park Street, Kihdderpore,
Calcutta University, Jadavpur University and Rabindra Bharati University in Kolkata .
Secondary data:
Secondary data are those which have already been collected by somebody else and
which have already been passed through statistical process. For the research have
taken secondary data for comparative study of business economics with other
financial daily. The literature survey and the references are taken from the official
website business economics.
SURVEY PROCESS:
For the research, customers visited were Company, Institutes, and C.A. and were asked
questions which are short and specific and easily understandable. Data was also collected
data from official sites, published articles, research works.
Steps Undertaken:
1) Information about the customers was collected from the company database,
from yellow pages and from the local vendors.
2) Before approaching the customers call was made to them to seek the
permission.
3) If the customer is not free that time ; some other date was asked and in the
mean time asked for the mail id and was send the Business Economics
subscription package and was informed the customer to go through it.
4) At the time of meeting respondents were first asked about the readership
habits of the towards business dailies and if it’s there, then ask for the
particular newspaper.
5) After that question pertaining to project were asked, as to the content of the
news, preference of the newspaper any specific problems pertaining to the
availability, satisfaction level and such I requested them to fill up the
questionnaire.
6) All the responses along with any recommendations given by the customer
was properly taken into consideration The customers were properly guided
in answering the questionnaires and were helped in giving a rational
response then analyzed the questionnaires and provided the results through
pie charts and bar graphs
7) In case of the corporate and the educational institutions I went for personal
interviews instead of getting questionnaires filled up.
8) The natures of the interviews were generally one to one and the types of
questions asked generally matched the one given in the questionnaire.
RESEARCH APPROACH:
Qualitative as well as Quantitative approach has been used for this research. But the
stress was basically on the quantitative approach.
Quantitative approach:
Quantitative data involves the generation of data in a quantitative form which can
be subjected to analysis in a formal and rigid fashion.
Qualitative approach:
RESEARCH DESIGN:
This calls for developing the most efficient plan for gathering the necessary information,
design a research plan, decision on the data sources, research approaches, research
instruments, sampling plan and contact methods. A research design is the specification of
the method and procedure for acquiring the information needed. According to my
research design I have performed the following steps in the project.
1) DESCRIPTIVE
2) DIAGNOSTIC
3) CAUSAL
4) EXPERIMENTAL
5) EXPLORATORY
6) APPLIED
In this project, applied type of research design has been used. This method was used so
that finding of research can be used for improving STP strategies. In this project the
objective was to gather information regarding Positioning of Business Economics.
RESEARCH TOOL:
1) Low cost.
2) Anonymity.
3) Total coverage.
4) Avoid bias.
SAMPLING:
Sampling is one of the most fundamental concepts underlying any research work. Most
research studies attempt to make generalization or draw inference regarding the
population. Based on their study of a part of the population that is the sample. The sample
data enables the researchers to correctly estimate the population parameters. While doing
sampling I considered Kolkata region area and then have taken help of judgmental sampling.
1) PROBABILITY METHOD.
Judgmental sampling or Purposive sampling: The researcher chooses the sample based
on who they think would be appropriate for the study. This is used primarily when there
are a limited number of people that have expertise in the area being researched.
SAMPLING POPULATION: \
All the existing clients like, Stock Brokers, working professionals, Hotels, Students etc.
SAMPLE FRAME:
The entire list that contains the sample unit is known as sample frame: in this case my sample
frame was Kolkata (subscribers of magazine) region.
SURVEY AND DATA INTERPRETATION
RESPONDENTS
MAGAZINES
INDIA TODAY 15
OUTLOOK 16
BUSINESS WORLD 2
BUSINESS ECONOMICS 11
BUSINESS TODAY 4
SUNDAY INDIAN 5
THE WEEK 9
SME WORLD 4
FRONTLINE 4
16
14
12
10
RESPONDENTS
8
0
MAGAZINE READERSHIP
STUDENTS
3 TEACHERS
SERVICE
2 BUSINESSMEN
IT PROFESSIONALS
1
0
FACTORS INFLUENCING BUYING DECISION
5
RELIABILITY
4
SOPHISTICATION
3 TO THE POINT
2 ELEGANT
0
PEOPLE RELATE BUSINESS ECONOMICS ON QUALITY
5
DEFINITELY
4
PROBABLY
3 NOT SURE
PROBABLY NOT
2
DEFINITELY NOT
1
0
SUGGEST BUSINESS ECONOMICS TO FRIENDS
12
10
6
ADVERTISEMENT SUPPLEMENT
CONTENT SUPPLEMENT
4
DISPLAY SUPPLEMENT
0
Opinion regarding the supplement of Business Economics
5
Corporate & Industry
4
Economic and policy
3 Editorial
0
Section read in BUSINESS ECONOMICS & other business magazines
14
12
10
6 Delighted
Satisfied
4 Not Satisfied
0
Satisfaction with the service of BUSINESS ECONOMICS
14
12
10
8
PEN DRIVE
6
STOLE
4 BAG
DESKTOP CLOCK
2
0
GIFTS PREFERENCE
12
10
6
FORTNIGHTLY
WEEKLY
4
MONTHLY
0
FINDINGS
Business Economics segment the market on geographic criteria. The geographical area is
divided on the basis of Tier-1, Tier-2, and Tier-3 cities.
Chartered Accountants.
I.T. Companies.
Hotels Share Brokers.
Travel & Tourism Company.
Real Estate.
Banking & Financial Institutions.
Health & Beauty Clinics.
Educational Institutions Entrepreneurs.
Among the users of Business Economics; India Today is the most read business
magazine in the general newspaper category.
Content of the magazine is the most influential factor in buying of the magazine.
Economy and Policy is the most section in magazine followed by Corporate and Industry.
The one quality that the customers of Business Economics relate the magazine with is
‘To the Point’.
Snapshots, Women and the Enlightenment sections were rated as Very Good by the
customers.
Individual Investors and stock brokers are the majority users of Business Economics.
LIMITATIONS
As Business Standard Limited has huge customer base spread throughout the KOLKATA
and country, so it was not possible to survey each customer hence there was limitation on
sample size.
The project was required complete within a certain time period and this was another
constraint for study.
Some customer was hesitant to share information, which they felt was confidential.
In their peak hours of work, respondents may have given some wrong information or incomplete
information.
RECOMMENDATIONS
A supplement must be started giving insights into the real estate business.
A section regarding mutual funds must be introduced in The Smart Investor Supplement.
The gap between the ordering of Subscription by the customer and issuance of
subscription should be reduced. As of now a customer has to wait maximum for 15 days,
this should be reduced down to maximum of 5 days.
Supply chain needs to be strengthened. 86% of the BE Readers were satisfied with BE
services and 14% of BE Readers were not satisfied at all .
Business Economics must focus on retaining the existing customer base, acquiring new
customer is costlier.
Business Economics must promote its offering during Business functions , National
Conferences, Trade Fair, Business School Events, Induction Program, MBA coaching
centers to catch the target as early as possible in their life stage.
Business Economics must aggressively reinforce its proposition of being “Straight to the
point.
Business Economics should take precautions for reaching the magazine in right time. It
can tie-up with the different courier service providers through which it can deliver the
magazines to their respective customers in time.
Business Economics must change or increase the number of segments as many customers
are also interested in share market and sports. These 2 segments should be included in the
magazine.
BIBLIOGRAPHY:
www.wikipedia.com
www.businesseconomics.in
www.philipkotler.com
www.csmprintmedia.co.in
“Marketing strategies” by Zig Ziglar
www.yahoo.co.in
www.google.com
“Organizational Psycho-Traits” by Pitzler
“Customer Service Analogy” by Duke Menon
www.managementparadise.com.
Annexure:
Questionnaire
3. Which section do you read the most in Business Economics / other magazine?
a. Finance b. Industry c. Nature d. Health e. Last Word f. Other……………