Business Standard Project

Business Standard Ltd.
A PROJECT REPORT ON
CUSTOMER RELATIONSHIP MANAGEMENT STRATEGY USE BY BUSINESS STANDARD LTD.
Submitted By
SACHIDANANDA MAHAPATRA
ICBM-School of Business Excellence HYDERABAD www.icbm.ac.in
ICBM-SBE, Hyderabad
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DECLARATION
I am Sachidananda Mahapatra,a student of PGDM from ICBM-SBE, Hyderabad, hereby declare that the project work titled CRM strategy use by Business Standard has been submitted in partial fulfillment for the award of the PGDM.
I here declare that this project work has not been submitted to any other institution or University.
Sachidananda Mahapatra
ICBM-SBE, Hyderabad
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Acknowledgement
First of all I would like to place on record my Gratitude to all concerned respectable executives of Business Standard Limited forgiving me this opportunity of internship which has been a pure learning experience and which have enlightened my knowledge and skills about the newspaper industry I would also like to express my gratitude towards the ICBM-SBE for giving me the opportunity to undergo Summer internship at Business standard Ltd. I am specially thankful toMr.M.S Rao (Manager of BS) for guidance and cooperation during this internship and infect without their navigational assistance life would have been very difficult as far as structuring the projects are concerned. I would be always grateful to them for their help and support.
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INDEX
1. Executive Summary 2. History of newspaper 3. Introduction..
4.
Company analysis.. Newspaper industry in India Company profile Product profile
5. Objective. 6. Scope . 7. Methodology of Research. Market research Product research Exploratory research Sampling plan 8. Competitive analysis. 9. CRM Module Introduction and Objective Segmentation Survey Results for all Segments CRM Strategies 10. Analysis and interpretation Data collection Questionnaire design
11. Conclusion 12. References..
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Executive Summary
Business standard limited is the most of Indias most credible business daily. in survey by Orion PR 2008,Business standard was ranked No.1 among the business media for professionalism in dealing with business. Comprehensive coverage of stocks, finance and business news .independent, unbiased opinions from one of the strongest editorial teams led by T.N Ninan. Proven strength.
The purpose of this report is to literally act as a window to the projects undertaken as a part of the Summer Internship with the Organization Business Standard Limited that aims to define the breadth depth and scope of the various thinking processes and mechanics that actually synthesized the projects undertaken. Typical CRM goals are to improve services provided to customers, and to use customer contact information for targeted marketing.
The projects that have been assigned as a part of the internship is: To develop & design a Monitoring system for Product marketing plans. To develop & design a CRM Module of the business newspapers. Becoming customer-centric could completely transform the way your company operates and will have major implications for people, processes and technology. Our main objective is to be get 5% market share in the Indian market. And fulfill the consumer wants. As compare to the competitor we have to reach more than 20%. To deeply penetrate into the market as soon as possible. For achieve our market objective we have to make some strategy and those strategy are Though its main target market are the youth segments thats why we have made any strategy considering the particular group. Then secondly we consider about the distribution policy with customers satisfaction. The objectives of a CRM strategy must consider a companys specific situation and its customers' needs and expectations. Information gained through CRM initiatives can support the development of marketing strategy by developing the organization's knowledge in areas such as identifying customer segments, improving customer retention, improving product offerings (by better understanding customer needs), and by identifying the organization's most profitable customers.
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In present sincere Business Standard Ltd. is not only the biggest but most profitable business newspaper company in India. It is now in the edge of the future growth. Now a days business standard popularity is in the pick because knows how sharply utilize its brand name to gain share in the Indian newspaper market . Because of its popularity it has increase its market share .The CRM strategy use for Designing and executing targeted marketing campaigns .Designing and executing targeted marketing campaigns .Designing and executing campaigns, e.g. customer acquisition, cross-selling, up-selling .Analyzing customer behavior in order to make decisions relating to products and services (e.g. pricing, product development) ,Management information system (e.g. financial forecasting and customer profitability analysis) .
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Objective of the study

CRM is a business approach that seeks to create, develop and enhance relationships with carefully targeted customers in order to improve customer value and corporate profitability and thereby maximize shareholder value. it gives aimed at increasing the acquisition and retention of profitable customers by, respectively, initiating and improving relationships with the customers. It obtain basic information about customers and their complaints, customer satisfaction monitoring and faster complaints resolution in order to raise customer retention rates, to increase self-service efficiencies, and to mitigate the need for in-person assistance. The main objectives are To knowing the customer To enhancing customers interactions with the organization To tracking all customers communications and customers trends To creating more value for customers and keeping their loyalty To real-time information sharing and collaboration organization-wide To managing the internal supply chain To enhancing customer services to achieve better satisfaction rates To better targeting and campaigning To develop integrated Database Increased customer number and customer profitability; Higher customer satisfaction ratings
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HISTORY OF NEWSPAPER
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History of Newspaper
A newspaper is a regularly published print product containing information vital to the function of the market it serves. Definitions become more important as traditional newspaper companies move from singleproduct management (newspapers) to multi-product management - often under the company's brand, typically the title of the newspaper. What newspaper companies are learning is that the value of what they produce is not the ink on paper, but the content, depth, segmentation choices, credibility, and emotional attributes that are delivered in any distribution channel they choose. The newspaper as we know it today is a product born of necessity, invention, the middle class, democracy, free enterprise, and professional standards. Choose your historical marker to begin the history of newspapers. The first news sheet? The first newspaper? The first daily newspaper? Pre-history "newspapers" were one-to-one in nature. The earliest variation on a newspaper was a daily sheet published in 59 BC in Rome called Acta Diurna (Daily Events), which Julius Caesar ordered posted throughout the city. The earliest known printed newspaper was in Beijing in 748. In 1451, Johannes Gtenberg uses a press to print an old German poem, and two years later prints a 42-line Bible -- the significance being the mass production of print products, ushering in an era of newspapers, magazines, and books. By 1500, the genesis of a postal system can be seen in France, while book publishing becomes popular throughout Europe and the first paper mill can be found (England). Zeitung (newspaper) is a news report published in Germany in 1502, while Trewe Encountre becomes the earliest known English-language news sheet in 1513. Germany's Avisa Relation oder Zeitung, in 1609, is the first regularly published newspaper in Europe. Forty-four years after
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the first newspaper in England, the Oxford Gazette is published, utilizing double columns for the first time; the Oxford/London Gazette is considered the first true newspaper. The first North American newspaper, Public Occurrences Both Foreign and Domestic, was published in 1690 in Boston. The 1700s was a century in which market elements were created that encouraged the development of daily newspapers: rising literacy, the formation of nation-states, a developing postal system, the proliferation of urban centers, a rising literary and philosophical tradition emphasizing democratic involvement in government, and technologies that supported newspaper production. In short, it was a great news century. The first daily newspaper was The Daily Courant in London, 1702. In 1754, The Daily Advertiser in London uses the first four-column format. France's first daily newspaper appears in 1777, Journal de Paris, while the first United States daily was the Pennsylvania Packet in 1784. The rise of the middle class transformed newspapers in the 1800s. A penny (US$0.01) buys a New York newspaper in 1833, opening up the first mass market for newspapers. In 1847, the telegraph is used as a business tool, transforming far-away stories. In 1873, an illustrated daily newspaper can be seen in New York. In 1878 the first full-page newspaper advertisements appear, and in 1880 the first photographs are seen in newspapers, using halftones. With the basic technical groundwork for the modern newspaper in place by the late 19th century, the story of newspapers in the 20th century was about professional development and adaptation to changing consumer and media markets. The story also involved an evolving business model that rode an ever-growing wave of mass-market advertising. Increased profitability and higher revenues attracted publicly owned corporations interested in buying newspapers from descendants of company founders, while simultaneously exposing newspapers to the whims of cash- and profit-hungry stock markets. By 2000, newspapers were juggling priorities: fragmentation of news consumption, fragmentation of advertising investments, the advantages and disadvantages of being a mass medium, balancing the wants of the marketplace with the company's duty to provide the needs of the marketplace, a journalistic backlash against industry changes, the sheer physicality of ink-onICBM-SBE, Hyderabad Page 10
paper production and distribution versus digital distribution, increasing profit pressure surrounding the core print product, and extension of the company's core brand into other profit centers. The history of newspapers is an often-dramatic chapter of the human experience going back some five centuries. in renaissance Europe handwritten newspapers circulated privately among merchants. Passing along information about everything from wars and economic condition to social customs and human interest features. the first printed forerunners of the newspaper appeared in Germany in the late 1400s in the form of news pamphlets or broadsides, often highly sensationalized in content. some of the most famous of these report the atrocities against Germanys in Transylvania perpetrated by a sadistic vevod named vlad tsepes drakul.who become the count Dracut of later folklore. In English-speaking world, the enlist predecessor of the newspaper were corantos,small news pamphlets produced only when some event worthy of notice occurred. the first successively published title was the weekly news of 1622.it was followed in the 1640s and 1650s by a plethora of different titles in the similar news book format. the first true newspaper in English was the London gazette of 1666.for a generation it was the only officially sanctioned newspaper, though many periodical titles were in print by centurys end. Worldwide newspaper sales edged up by more than percent two percent in 2004 while advertising revenue recorded significant gain.the world association of newspapers said Monday. In its report on trends in the newspaper industry,the WAN said 395 million copies of newspapers were sold daily in 2004 and read by an estimated one bln.people worldwide,china,india and japan were the worlds biggest newspaper markets in 2004 and china overtook japan as the country with the highest number of publication in the world. Three quarters of the worldss 100 best selling daily newspapers were now published in asia where sales were up 4.1 percent for the year.the figure , from WANs annual survey of press trends ,were released to more than 1,300 publishers,editors and other senior newspaper execuitives from 81 counties attending the world newspaper congress and the world editors from . asias biggest ever media gathering . which opened seoul Monday.
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Worldwide newspaper circulation grew 2.1 percent,the number of daily titles was up two percent and advertising revenue rose 5.3 percent,its biggest jump in four year,the WAN report said it has been an extraordainarily positive 12 months for the global newspaper industry said timothy balding,director general a the paris-based WAN. Newspaper are clearly undergoing a renaissance through new products,new formats,new titled ,new editorial approaches, better distribution and marketing. Despite a though business environment the advertising pie had expanded, generating more revenue for newspapers, even though the portion of the pie going to the print media was gradually eroding ,from 30.5 percent in 2003 to 30.1 percent in 2004.revenue grew 29 percent in china last year,more than the growth in 2003 ,and 116 percent over five years. It was up 3.93 percent in the worlds biggest advertising market .the US ,more than double last years increase which reversed two years of decline. While revenue was up.newspapers continued lose readers in many traditional
strongholds.including Europe.though the drop was less sharp than in previous years.but balding said reports of demise of print newspapers with the advent of internet and digital media were premature.
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Introduction
CRM entails all aspects of interaction a company has with its customer, whether it is sales or service related. It even uses technology to streamline processes that impact customer loyalty, service delivery and quality management. Today, businesses are facing an aggressive competition and they have to make Efforts to survive in a competitive and uncertain market place. People have realized that managing Customer relationships is a very important factor for their success. Customer relationship management (CRM) is a strategy that can help them to build long lasting relationships with their customers and increase their profits through the right management system and the application of customer-focused strategies. Newspaper, publication usually issued on a daily or weekly basis. the main function of which is to report news. Many newspapers also furnish special information to readers. such as weather reports, television schedules. And listings of stock prices. They provide commentary on politics, economics, and arts and culture, and sometime include entertainment features, such as comics and crossword puzzles. In nearly all cases and in varying degrees, newspapers depend on commercial advertising for their income. Present scenario is that by time. they see a newspaper, most people have already learned about breaking news stories on television or radio. Readers really on newspapers to provide detailed background information and analysis, which television and radio newscasts rarely offer. Newspapers not only inform readers that an event happened but also help readers understand what led up to the event and how it will affect the world around them. The staff of a large newspaper works under the constant pressure of deadlines to bring news to readers as quickly as human energy and technological devices permit. Reporters, photographers, artist, and editor compile articles and graphics- sometimes in just a few hours age designers assemble articles, photos,illustrations,advertisements,and eye-catching headlines into page layouts, then rush their work to the prater. Newspapers as known today complete with advertising and a mixture of political, economic, and social news and commentary.
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It has grown mainstream and is being implemented in a wide range of companies and organizations such as manufacturing, financial services, transportation and distribution, medical services and products, consumer package goods and others. This explosive growth of CRM reflects the intersection of genuine market need and enabling technology. And, in this growth period, the impetus for CRM is shifting from an emphasis on efficiency, i.e., doing more things faster with less cost, to effectiveness, i.e., doing things better for increased revenue with a high "return on relationships A CRM programmer requires a clear understanding and commitment to the company's customers, vigilant adherence to detailed goals, commitment from both executives and line workers, and a constant awareness of the customer's view point. Customer relationship management is about more than simply managing customers and monitoring their behavior or attitude. CRM has the potential to change a customers relations with a company and increase revenues in the bargain. Furthermore it helps to know the customers well enough to decide whom to choose and whom to lose. Generally speaking, the five needs of customers are:(a) Service (b) Price (c) Quality (d) Action and (e) Appreciation.
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COMPANY ANALYSIS
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Company analysis Newspaper Industry in India

India has emerged as the second largest newspaper market in the world by buying 99 million newspapers daily, according to World Association of Newspapers (WAN)s figures released at the 61st World Newspaper Congress and 15th World Editors Forum in Gteborg, Sweden. China leads the pack with highest (107 million) number of dailies sold everyday. The two most populous countries of the world have also ended up as the two largest newspaperbuying countries. China and India are followed by Japan, with 68 million copies, United States with nearly 51 million and Germany with 21 million copies. According to WAN, newspaper sales in the Indian market have increased by 11.2% in 2007 and by 35.51% in the last five year period. Asia accounts for around 74 of the 100 best-selling dailies of the world, of which around 62 are published in India, China and Japan. Although the newspaper advertising revenues in India witnessed a marginal decline of 1.42 last year but is up by 64.8% when you take into account the last five years. According to WAN, paid for newspaper circulations world-wide rose 2.57% in 2007 and increased by 9.39 % over the past five years . Rapid growth of both free titles and on-line platforms have contributed immensely towards expanding reach of newspapers across countries. When free dailies were added to paid-for daily circulation, global circulation increased by 3.65% year on year to 573 million copies. The share of newspapers in the world ad market fell marginally to 27.5% in 2007 from 28.7% a year in 2006. Newspapers remain the worlds second largest advertising medium, after television, garnering more ad-revenue than radio, cinema, outdoor, and the internet combined. When newspapers and magazines are combined, print emerges as the worlds largest advertising medium, with a 40% share, compared to 38% of television .
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Newspaper circulation has been rising or remained stable in three-quarters of the worlds countries over the past five years and in nearly 80% of countries in the past year. And even in places where paid-for circulation is declining, notably the US and some countries in western Europe, newspapers continue to extend their reach through a wide variety of free and niche publications, said Timothy Balding, chief executive officer of WAN. There has been a frenzy of activities in the Indian newspaper industry - some eye it with pleasure, some with anxiety, but this spur of fresh developments is continuing. New editions, new titles, all-colour pages, acquisitions and mergers, internal co-operation...these are just a few of the happenings that have transformed the entire scenario. Undoubtedly, the newspaper industry is in its full bloom, posing a win-win situation for everyone...newspaper publishers, readers, advertisers, web offset manufacturers, consumable suppliers, etc. Such is the potential of the Indian newspaper industry that come September and Ifra is set to organize IfraExpo for the first time in India.
Newspapers shape the nation and it holds true for India as well. Even before India got independence, newspapers played a major role in spreading the issue of independence. Today, India has over 300 big newspapers, besides hundreds of medium and small-sized ones. And the number is increasing almost everyday as existing newspapers bring out new editions apart from new players joining the bandwagon. More recently, Metro International, Sweden is in talks with ABP group to launch their daily Metro in India. The negotiations are on and very soon the deal would be done. Similarly, UK based Associated Newspapers and India Today Group have entered into a joint venture to launch the Daily Mail in India. With such international newspapers foraying into the Indian market, the future of the newspaper industry at large, looks promising. Little doubt then that Ifra is set to hold its popular event IfraExpo for the first time in India (September 4- 6, 2007, Chennai). Till now, IfraExpo was held only in Europe.
There was a time when select group of newspapers were ruling a particular region and they all were self-contained and did not wish to foray into other regions. For example, Hindustan Times was confined to Delhi region, The Hindu in Chennai region, while Tribune was dedicated to Ambala (later Chandigarh), Anandabazar Patrika was confined in West Bengal and Bhaskar in
Gujarat and so on. But lately, the scenario has completely changed, probably marked with Times group spreading its wings across other territories; for example, the Times of India added a number of new editions and the recent one being their Nagpur edition. The Indian Express group launched its Marathi daily Loksatta in Bangalore and Hyderabad. Deccan Chronicle Holdings Ltd launched the Chennai edition of Deccan Chronicle and they are now planning to bring out a Bangalore edition as well. HT Media Ltd launched a new edition in Kolkata and lately in Mumbai. They also relaunched HT Next, targeted at students of age group 12 to 16 years with its new campaign I am next.
Regional newspapers like Dainik Jagran, Dainik Bhaskar, Rajasthan Patrika, Amar Ujala, etc have also started spreading their hold over B class cities by bringing out regionspecific editions. Close on the heels of launching its Amritsar and Jalandhar editions, the Bhaskar group launched an edition in Sagar, Madhya Pradesh and more recently Gorakhpur, UP. After launching its Rajkot edition, Divya Bhaskar launched its Jamnagar edition, making it Jamnagars first ever Gujarati morninger. They also launched an edition in Anand. Amar Ujala launched its Gorakhpur edition, which was followed by an edition in Aligarh. Nai Dunia, the Hindi daily, launched its Bilaspur edition, which will soon be followed by Jabalpur and Bhopal editions. Rajasthan Patrika launched a Hindi paper Daily News in Jaipur. Sahara Group launched its Urdu daily, Roznama Rashtriya Sahara in Bangalore, which will be followed by the launch of its Srinagar edition, besides specific editions for Rajasthan and Madhya Pradesh. The Sahara group also launched the Kanpur and Dehradoon editions of their popular Hindi daily Rashtriya Sahara. More recently, the Hindi daily, Punjab Kesari forayed into Hisar. Jagran Prakashan Limited launched I-next, the first bilingual newspaper in the country, targeting readers in the age group of 18-35 years. The paper was launched in Lucknow and Kanpur and the company has plans to launch the brand in 5 more mini metros of North India. More recently, The Tribune launched its Himachal Pradesh edition; it is notable that it is their fourth edition after Chandigarh, Delhi and Jalandhar. Another popular way seen to enter into other territories quickly has been by acquisitions, like Times of India group acquired Bangalore-based publishing house, Vijayanand Printers to tap the southern market. The Vijay Times group was comparatively a newcomer to the industry, with its promoters coming from the transport business, but with good political
background. Soon, Times of India group launched its Kannada daily The Times of India Kannada in Bangalore. Its really surprising that how fierce competitors join hands to form new strategies - first it was in collective marketing campaigns and now a joint newspaper as well. As a new marketing alliance, Business Standard has tied up with Desh Pardes Ni AajKaal, a Gujarati evening newspaper, for advertising combination. This step has been taken to grow the circulation of Business Standard in Saurashtra and Kutch regions. Hindustan Times and Times of India jointly launched a newspaper Metro Now, a morning tabloid targeted at the age group of 18-30 years. Metro Now is published by Metropolitan Media; a 50:50 joint venture between HT Media and The Times of India group. Even though the tabloids have not been very successful in the past, specially in Delhi, but this market is now set to experience world-class changes as three major tabloids are lined up for Delhi region alone - first it was Metro Now and recently Mid Day group has relaunched its afternoon tabloid Mid Day Delhi on the same content lines as Mid Day Mumbai. Both the newspapers are targeted at the young readers who are regularly on the move. Besides, the Times of India group is set to launch Bangalore Mirror, another tabloid for the IT city Bangalore. In terms of adopting new technologies, the newspapers have realized that customer is the king and amidst so many choices, readers would go for newspapers that are more reader-specific, content-rich and give value for money. The blackandwhite technology is becoming pass whether it is a mobile phone or a newspaper. Today, readers prefer all-colour editions and more and more newspapers have come out with all-colour editions. This has necessitated the newspaper publishers to opt for CtP technology, which by default has improved the print quality and reduced the waste percentage. Besides, the newspapers are also going in for makeover of their publications, in terms of layout, font and sometimes even masthead. For this, they are spending substantial money and are even taking help of international designers. The cut-off size 546 mm is preferred over 578 mm, which has resulted in savings in newsprint cost. The price of the newspapers also dwindled and some newspapers even went to the extent of offering their newspaper at Re 1 only. The newly launched Metro Now newspaper is also offered for a cover price of Re 1 only and provides 40 pages in colour and 8 in black-and-white.
All these trends have facilitated a lot of business potential to press manufacturers and consumable suppliers like that of ink, plates and newsprint. The web press manufacturers in India have been keeping themselves busy round-theclock. Infact, a few of these manufacturers gained presence in international markets as well. The largest Indian web press manufacturer Manugraph went a step further by acquiring US-based Dauphin Graphic Machines (DGM), which is a leading manufacturer of single-width web offset presses in the 4-page segment.
Top newspapers in India are now opting for high-speed web presses like that of Goss, MAN Roland, Mitsubishi and mailroom systems from Ferag and Muller Martini. However, the majority of newspapers are continuing their production on indigenously produced equipment. With this impressive growth in the industry, it is high time that the highend manufacturers from developed countries may enter into India either in collaboration with local manufacturers or independently to tap the growing demand. Infact, a little bird has informed that a leading foreign manufacturer is in talks with a local web press manufacturer to jointly set up a new manufacturing facility in India. It would indeed be a major step in this industry and the effect would be for all of us to see. Quality has become an important factor in the industry and Indian newspapers are continuously investing in quality control equipments. The demand for automatic registration control systems has increased to the extent that leading manufacturer QI Press Controls is planning to come up with manufacturing activities in India. Distribution Process of Newspaper Industry
* The newspaper sales involve distributing highly perishable products under severe time constraints.
* The printed newspapers have to be dispatched to various distributors across the region. Transportation is normally through private contract carriers within local area, public transport in case of longer distances and through couriers in other cases.
* The newspaper distributor has the rights to distribute the newspaper in his area. The revenue of
the newspaper distributor is based on a commission on the sale of every newspaper. The circulation is normally through salesmen appointed and salaried by the distributors, who in turn pass it on to hawkers.
* Hawkers, vendors and book stall owners are the last link of the supply chain before newspaper reaches readers. The hawkers' remuneration is also normally based on the commission system and is generally the highest in the entire supply chain.
* Responsiveness and efficiency play an important role in newspaper distribution channel. Responsiveness includes supply chain's ability to respond to wide a range of quantity demanded (due to demand fluctuations) and meet short lead times. On the other hand efficiency is the cost .
Business newspaper in India

Business newspapers have also branched into new editions in newer territories. Financial Express, the business daily, launched its Pune edition while Business Standard launched its Bhubaneshwar edition. Another business newspaper (20 pages colour and 4 pages blackandwhite) launched was Mint from the Hindustan Times group in Delhi and Mumbai. After these two cities, HT Media plans to launch Mint in Kolkata and Chandigarh, giving competition to Economic Times from Times of India group. DNA Money launched its Ahmedabad edition for the Gujarati businessmen and also a stand-alone Mumbai edition, even though it continues to be available as a supplement along with the main paper DNA in Mumbai. DNA Money is planning to bring out its Jaipur edition as well. The Times Group has launched a Gujarati language edition of The Economic Times.
Another popular way seen to enter into other territories quickly has been by acquisitions, like Times of India group acquired Bangalore-based publishing house, Vijayanand Printers to tap the southern market. The Vijay Times group was comparatively a newcomer to the industry, with its promoters coming from the transport business, but with good political background. Soon, Times of India group launched its Kannada daily The Times of India Kannada in Bangalore. Its really surprising that how fierce competitors join hands to form new strategies - first it was in
collective marketing campaigns and now a joint newspaper as well. As a new marketing alliance, Business Standard has tied up with Desh Pardes Ni AajKaal, a Gujarati evening newspaper, for advertising combination. This step has been taken to grow the circulation of Business Standard in Saurashtra and Kutch regions. Some of the business newspaper in india are Business Standard Financial Express Economic Times Business Line
Business Standard Limited

Business standard limited is the most of Indias most credible business daily. in survey by Orion PR 2008,Business standard was ranked No.1 among the business media for professionalism in dealing with business. Comprehensive coverage of stocks, finance and business news .independent, unbiased opinions from one of the strongest editorial teams led by T.N Ninan. Proven strength a tie-up with the financial times of London. Reach for the business standard and you reach for the business paper thats the preferred choice of leaders and decision makers. Through their communication, BS is trying to reach out to the SEC A1, B1 and B2 categories in the Hindi speaking belt. Targeted largely at 25+ men, the newspaper considers everyone in the business from the smallest traders and manufacturers to investors, brokers, grain merchants, commodity traders, and dealers in gold and silver. In terms of demographics, the paper is looking at a presence Maharashtra upwards, and it is present in almost every state, except Rajasthan. Natesh refused to comment on its lack of presence in Rajasthan.
In addition to television, outdoor and press have also been utilised. On-ground activation and mailers have been taken up. A website has been put together for the Hindi paper and is now in operation, www.bshindi.com. The company has assigned a marketing spend of Rs 10 crore, out
of which Rs 3-4 crore each have been allotted to television and print, and Rs 2 crore to outdoor.
According to a research study conducted by BS for the new paper, readers want access to more information, and more knowledge about financial terms in Hindi. To meet this need, subscribers to the Hindi paper will be given a booklet of financial terms in Hindi.
Business newspapers comprise 4 per cent of the entire newspaper pie. According to ABC, ET has a circulation of 7,00,000 copies and Business Standard, 2,00,000. BS launched its Hindi paper in Mumbai and Delhi first, followed by Lucknow, Chandigarh, Bhopal, Patna and Kolkata.
Company Profile
Business Standard is the country's most respected business daily, being the first choice of serious business readers. It is published in colour from 12 centres in India - Mumbai (formerly Bombay), New Delhi, Kolkata (formerly Calcutta), Bangalore, Chennai (formerly Madras), Ahmedabad, Hyderabad, Chandigarh, Lucknow, Pune, Kochi and Bhubaneswar. 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. 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. 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 of Standard and Poor's Asia Pacific, Deepak Lal, professor of economics, UCLA, Suman Bery, director-general, National Council of Applied Economic Research, Abheek Barua, chief economist of HDFC Bank, M. Govinda Rao, director of National Institute of Public Finance and Policy and Arvind Singhal, chairman, KSA
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Technopak. The newspapers columnists include Surjit Bhalla, Latha Jishnu, Sunil Jain and AV Rajwade. Apart from a business newspaper, BSL publishes several periodicals, including BS Motoring, Indian Management, Asian Management Review, a quarterly publication, and Business Standard in Hindi . The Hindi newspaper is published simultaneously from seven centres Mumbai, Delhi, Chandigarh, Lucknow, Bhopal, Patna and Kolkata. Business Standard also has a regional language business website www.bshindi.com. 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 businessstandard.com, www.bsmotoring.com , www.bshindi.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) and BS Motoring (monthly). Business-standard.com, India's premium business news and information website enables you serve your customers better. Partner with us and add value to your business. All journalists of Business Standard have a duty to maintain the highest professional and ethical standards and the following code sets the benchmarks. It protects both the rights of the individual and upholds the publics right to know. Journalists of Business Standard should avoid any action which, if it became publicly known, would jeopardise the newspapers reputation. If you would be embarrassed by public disclosure of something . Business Standard, India's premium business daily is now published from 12 leading metros(Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad,Ahmedabad, Bhubaneswar, Chandigarh, Kochi, Pune & Lucknow)
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With an average page-count of 20 every day (Monday through Saturday), readers get indepth coverage of the corporate sector, banking and finance, markets and business, apart from the most influential group of editorial writers and columnists. Special focus sections in the newspaper include bi-weekly sections on Personal Business (on money, saving, spending and investing), and the tri-weekly Creative Business (which deals with businesses like media, entertainment, and non-traditional services). Business Standard is the only business newspaper to carry four additional (weekly or fortnightly) supplements on varied topics. They include Investment - The Smart Investor on Mondays Management and Marketing - The Strategist on Tuesdays New Economy - Ice World, published every alternate Wednesday BS Weekend - Leisure, lifestyle, Enterprise and Motoring Widely seen as a CEO's newspaper, Business Standard is widely read by corporate executives and professionals from a wide spectrum of industries and business functions. The brand has a huge and loyal patronage amongst readers for its sharp, unbiased and credible reportage and serious, incisive and insightful analyses. 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 organizations which want to bring out in-house or private publications but lack the people and/or resources to do it cost-effectively.
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Product profile of Business Standard Ltd.

Business Standard is the countrys most respected business daily.being the first choice of serious business readers. The newspaper believes in free,fair and indepeandent journalism and strives to inculcate these value in its editorial staff. The journalism practiced by Business Standard lays equal stress on quality,credibility and accuracy. The main product is business daily and magazine . the business daily gives the in depth analysis of all the business news. BS 200- Covers the most traded stocks with evaluation across 22 parameters. 6 full pages focused totally on stocks.
First page consist of the headlines news of he last day. On the top of the page,there is a line on which indicates the volume number,publishing centers from where this news paper is being printed. Below that line there is the Header Business Standard in assocission with Financial times of londpn. On left side of the whole page there are certain columns like In Brief, Market watch and opinion poll. On the buttom right corner of the page there is asole and generally. Second and third page consist the news related to the Economy. There is a separate page for international news and State news. Tenth and Eleventh page generally consist of Issues & Insighhts and Opinion respectively. Then Back page is there. After back page a different section called Monday and Market comes which contain all the news related to currency. daily stock market fluctuation and also about the commodity market. This section is completely made for money and market only which gives the detailed of each and every fector. After this section a different supplement comes named Accent South. (this name varies city to city like in Mumbai and Gujrat it is named as Accent West)
Apart form the daily newspaper some supplement come along with the newspaper,Supplements like Smart Inverstor(weekly), The Strategist(weekly).ICE World(fortnightly) and weekend. On every first Friday of the month.one magagine named Open Sky comes which gives a complete information about aviation industries.
Every week,it provides 3 suppliments that are Smart Investor for the latest investment option and trends. The Strategist highlighting marketing and brand related issues. Weekend which features leisure and lifestyle articles.
There is 2 free magazines Motoring and open sky (covering aviation) every month as well as multiple annual specials.
Feature of the Business Standard

Major protion of the sample taken most the supplements published along with the newspaper Among all the supplements like Smart Investor. The Strategist and ICE world.the student likes Smart Investor most for their valuable content which contains the information about the Mutual Funds and the news from Real Estate and other market information. Moreover Student also like Quize section of The Strategist. According to them this section helps to improve their knowledge. They also like the column What B-School does not teach of the same supplement. Corporate people like the quality and content of the newspaper. They also like the layout of the newspaper. Supplements and magazines are also popular among the corporate
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offices and the most popular supplement is The Strategist and the magazine is Fund Manager. When stoke broker were asked about the most about the most favorites feature of the newspaper, they told that the most favorites is various Supplements and the detailed information about the money and market. The most popular supplement is Smart Investor. IT professional are the lead Business Standard newspaper but still who so ever read Business Standard, they like quality and content part of the newspaper. Moreover they also like the ICE World Supplement as it belong to somehow information and communication part. Though each newspaper publishes SUDOKU but still Some IT professionals like SUDOKU of the newspaper Business Standard only. According to the quality of the SUDOKU provide by this quite different from others. BUSINESS STANDARD IN HYDERABAD Business standard doesnt have its own press they are printing their Newspapers in the Eenadu press. This press is located at khairatabad, Hyderabad. Generally the printing process starts by printing the Editorial Section which will be printed before 9.30p.m. The remaining process is benn done in two steps: STEP1.They publishes the supplement copies. STEP2.After that they publish the main paper. Generally the Accent Andhra layout & matter will be reached to press by 10.15pm. The layout of the main edition is designed in DILHI (main office). Then the copy of the layout is send to the branch office of Business Standard,from their the plastic sheets of the layout will be taken to printing press by 10.30pm and by 11-11.15pm the main edition will be printed by 12am because the printing of the Eenadu paper will be started. Here in the press the whole process will be done in four pressrun like PU1,PU2,PU3,&PU4. On the whole the printing process will be done three times for editorial column,Accent South and Main edition.
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Generally in weekdays i.e. Monday to Friday around 9000-11000 copies will be printed ,where as on Saturday their will be around 8000 copies will be printed. Business standard has a flexible printing activity. They publish their newspaper on the basis of DEMAND. The business standard officials will call up hotels to confirm how many copies of news paper they require for the next day.
Scope
The main scope of CRM Services is built on the principle of delivering and managing high-quality contact center services that support complex, large-scale customer interactions. Our services are designed to address pressing business challenges facing our clients. We bring measurable high value to our clients through differentiated industry-tailored services, as well as the ability to comprehensively manage the entire customer interaction operations of our clients. We deliver tangible, breakthrough results quickly by providing leading insights, being responsive to our clients and reducing risk. Whether you need a single service or an integrated approach, we have the flexible solutions that can improve customer satisfaction, retention, loyalty and value. Basically it gives the strategy to respond effectively to competitive pressure and to achieve a competitive advantage, and to differentiate competitively based on customer service superiority. This study will provide an insight into the Business Newspaper industry and the steps being taken by them to improve their relationship with their customers. From the study, one can infer the present scenario of the practices and programs being followed by the leading players in this sector and the steps being followed by them to enhance customer retention, customer Satisfaction and in turn, leading to enhanced profits and brand image in the minds of the customers. CRM Services is built on the principle of delivering and managing high-quality contact center services that support complex, large-scale customer interactions. Our services are designed to address pressing business challenges facing our clients. We bring measurable high value to our clients through differentiated industry-tailored services, as well as the ability to
comprehensively manage the entire customer interaction operations of our clients. We deliver tangible, breakthrough results quickly by providing leading insights, being responsive to our clients and reducing risk. Whether you need a single service or an integrated approach, we have the flexible solutions that can improve customer satisfaction, retention, loyalty and value.
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RESEARCH METHODOLOGY
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Research Methodology
Nine leading newspapers including business were scanned on daily basis for 45 days to collect information/data on different parameters so that the analysis of all the newspapers could be done on similar lines. For scanning and capturing data, an exclusive format was designed for each newspaper. The issues & news items selected were politics, crime, education, climate/weather, sports, entertainment, International news, environmental news, health & hygiene and business, which appears mainly in these newspapers. Information on appearance of the news items on these issues and on which page number it has got the space was collected.
KEY FINDINGS international), business and crime cover 83 percent of total newspaper space in all major dailies surveyed. The business news covers a maximum of 34.7 percent of the total space in the newspaper, which is followed by 25.99 percent of political news. The coverage given to crime related news is 11.58 percent whereas educational news gets only 1.1 percent of space in the newspapers. The international news gets maximum reporting in The Hindu newspaper i.e. 21 percent followed by politics (19 %). In The Times of India, 20 percent of the space is devoted to international news whereas politics has 20 percent coverage. The Hindustan Times follows with 17 percentage of International News and 18 percent of political news items. Almost all the dailies have more than two pages dedicated to Sports, Entertainment and business news.
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40
35
30
25
20 Series1
15
10
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Market research
Print media segment consist of newspaper and magazine publishing. 60,000 registered newspapers in India. 6.8% growth in reach of English dailies from 191 mn. In 2007 to 204 mn in 2008. Reach of 45% in urban and 19% in rural areas. Indian newspaper market at $2.68bnin 2007 and expected to grow @13% through FY 2008.
Product research It is one major area of MR. It is concerned with different aspects of a product which include name, features, uses, package used, brand name given, price, consumer support & so on. The market share of business newspapers. Research objectives are competitors available in the Indian market Target population is youth and businessmen reading newspaper:The contents of our newspaper. Through survey finding out the interest of our target audience for our newspaper:We prepared a questionnaire and circulated among the people. We collected the information as per our Sampling Frame which is as follows. Discussion with publisher \ distributors
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RESEARCH DESIGN PROCESS

Planning system Information system
Research purpose
Opportunity to launch a business newspaper
Preliminary planning stage
Research objective
Product innovation & CRM
Estimate value of research information
Research Approach
Exploratory approach - surveys
Research tactics
Develop measures of interest
Research Design
Constructing questionnaire Design sampling plan
Compare cost & timing estimates with anticipated value

Yes
No
Proceed
Data collection & Analysis

Implementation
Field work, data processing, data analysis, customer & interpretation
Conclusions & Recommendations
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Exploratory Research:
It is used when one is seeking insights into the general nature of the problem, the possible decision alternatives & relevant variables that need to be considered. Typically, there is little prior knowledge on which to build. The research methods are highly flexible, unstructured & qualitative, for the researcher begins without firm preconceptions as to what will be found. The absence of structure permits a through pursuit of interesting ideas & clues about the problem situation.
Research Purpose
Research Question
Hypothesis
1.
What new product should be developed?
What alternative ways are there to provide benches for school children?
Boxed lunches are better than other forms.
2.
What product appeal will be effective in advertising?
What benefit do people seek from this product?
Constructs unknown.
3.
How can our services be improved?
What is the nature of any customer dissatisfaction?
Suspect that an image of impersonalization is problem
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Sampling Plan:Most marketing research studies are limited to a sample or subgroup of the total population relevant to the research question, rather than a census of the entire group. The sampling plan describes how the subgroup is to be selected. One approach is to use probability sampling, in which all population members have a known probability of being in the sample. This choice is indicated whenever it is important to be able to show how representative the sample is of the population. Other critical decisions at this stage are the size of the sample, as this has direct implications for the budget project budget, & the means of minimizing the effect on the results of sample members who cannot be reached or who refuse to cooperate. Competitive analysis There are many business newspaper are available in the market, that are competing to the business standard newspaper basically it depends on market share, customer satisfaction, product, price, quality etc. the business news competitors are
Major Player Financial express Hindustan times Times of india Economic times Business line Future player Deccan chronicle News website News channel The main competitors of Business Standard are Economic Times.. is India's largest financial daily and the world's second largest financial daily
[1]
after The Wall Street Journal, with a daily circulation of over 620,000 copies. It is published by India's ICBM-SBE, Hyderabad Page 37
Business Standard Ltd. largest media group, Bennett, Coleman & Co Ltd, (This company along with its other group companies is more popularly known as The Times Group), which also publishes The Times of India, the Navbharat Times, the Maharashtra Times, Femina, and Filmfare. Brand Equity (Weekly) - this is a weekly colour supplement,t hat appears every Wednesday, which covers marketing, advertising, media and market research. Corporate Dossier is a supplement that appeares 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 AutoMania is a weekly all-colour supplement covering all aspects from the auto industry from new launches and trends to ancillaries and personalities. The Brand equity Quiz, is an advertising and marketing quiz which attracts corporate entities all over the Indian subcontinent. ET in the Classroom Quiz, is a business quiz of UG and PG students all over India.
Financial express
is a daily newspaper published by the Indian Express group .it is the
Indias oldest financial daily, The Financial Express, is today one of the leading newspapers in the country. Part of The Indian Express Group, the newspaper publishes eleven editions in English from leading cities -- Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi, Hyderabad, Kochi, Kolkata, Lucknow, Mumbai and Pune. It also has an edition in Gujarati, published from Ahmedabad. The newspaper has offices across the country and is headquartered in Delhi. FEs news coverage is known for comprehensive sweep of economic policy making, corporate developments and market trends. For Indias fast expanding middle class of over 300 million, as per latest NSS data, plus the CEOs and government officials, the insights into the Indian growth story are particularly edifying. On weekdays there are a number of special pages titled FE Insight and FE Special, which carry reports and analyses on crucial areas of the economy -- automobiles, infrastructure, entertainment, capital markets, workspace, small and medium enterprises, infrastructure, real estate, green businesses and BRIC Plus. The Financial Express on Sunday focuses on the weekend reading for corporate executives.
The newspaper has weekly supplements -- eFE, a four-page pullout on Mondays that tracks the latest in the knowledge economy; Brandwagon, a four-page supplement every Tuesday on advertising and marketing, and India Inc, a four-page section every Thursday on corporate strategy. Besides, a four-page pullout, FE Investor, on investment and personal finance, is published on Sundays.
Business Line
The Hindu Business Line is an Indian business newspaper published by
Kasturi & Sons, the publishers of the newspaper The Hindu. It is the only white paper on business. From Tuesday to Saturday, Business Line's main section has 20 to 24 pages. Page headings include Corporate, Information Technology, Marketing, Editorial & Opinion (2 pages), Commodities & Agribusiness, Economy, International Business, Stock Market news, Stocks and Mutual Fund quotes (5 pages), States Variety, Logistics and Market Watch. On Sundays, Business Line's main section has 18 pages. Page headings include Economy, Commodities, Corporate, International, Variety, Young Investor and Investment World-from page 8 to page 17, Incisive advice on stocks, mutual funds and deposits. On Mondays, Business Line's main section has 16 pages. Page headings include Market Mood, economy, Information technology, AgriBusiness, Transport, Commodities Investment The New Manager-Keep your date with leaders from the world of business, Mentor-A comprehensive resource on taxation, financial systems and books, Money & Banking, Editorial & Opinion, states and Variety. Business Line is published from 14 locations - Bangalore, Chennai,
Coimbatore, Delhi, Hyderabad, Kochi, Kolkata, Madurai, Mangalore, Mumbai, Thiruvananthapuram, Tiruchirapalli, Vijayawada and Visakhapatnam. Most of the newspaper's circulation comes from south India.
Some consider it to be a newspaper targeting niche audience since it is priced at Rs 4 compared to the Economic Times's Rs 2 and Business Standard's Rs 3.
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CRM MODULE
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CRM module
Introduction and Objective
CRM is a business approach that seeks to create, develop and enhance relationships with carefully targeted customers in order to improve customer value and corporate profitability and thereby maximize shareholder value. Infect the emergence of CRM as a management approach is a consequence to the fact that Nowadays customers represent a moving target and even the most established market leaders can be ousted Quickly from their dominant positions. It is no longer enough to offer excellent products but the key differentiator is exceptional service provided on a consistent and distinctive basis. Competitive advantage can therefore be gained by leveraging knowledge of customers expectations, preferences and behavior. CRM is aimed at increasing the acquisition and retention of profitable customers by, respectively, initiating and improving relationships with the customers. Thus CRM approach holds significance for any corporate entity that wants to flourish and hold the grip on the market as otherwise the company may suffer as customers of this century are moving targets. it create an ongoing dialogue and manage and utilize the information and insights obtained at every Customer. and developing long term relationship with them so as to increase the profitability CRM is a business philosophy that describes a strategy placing the client in the center of its Processes, its activities and its culture. This report provides an approach to successful CRM that can be implemented in newspaper sales, advertising or editorial. It outlines the implementation process of each of the three key components of CRM - knowledge, technology and people and draws on case studies by industry leaders .One newspaper which increased advertising call rates by 50% and the number of advertisers by 30%. Another which cut the number of disputes reaching its legal department by 30%. Another newspaper which generated nearly 70,000 new subscription orders by e-mailing users of their website. That newspaper also increased levels of retention from industry average of 60% to 94%.
Another which found that the cost of converting internet users to the printed product was a tenth of the cost of traditional canvassing. A newspaper losing 3% of its sales per year will reduce the lifetime value of its circulation by 26%. An annual loss of 3% of sales has a net present value of 2.82 times the circulation revenue. CRM enables publishers to identify, select, acquire, develop and retain their most valuable customers.
Advantages of CRM
Using CRM, a business can: Provide better customer service Increase customer revenues Discover new customers Cross sell/Up Sell products more effectively Help sales staff close deals faster Make call centers more efficient Simplify marketing and sales processes
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CRM MODEL
CRM
Operational CRM
Analytical CRM
Customer base
Customer profitability analysis
Suspects
prospect
current customer base
Interface ((( (product,service)
Data base (internal,external)
Customer feedback
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Segmentation
Marketing opportunities increase when customer groups with varying needs and wants are recognized. Markets can be segmented or targeted on a variety of factors including age, gender, location, geographic factors, demographic characteristics, family life cycle, desire for relaxation or time pressures. Segments or target markets should be accessible to the business and large enough to provide a solid customer base. A business must analyze the needs and wants of different market segments before determining its niche. Market segmentation is dividing a larger market into submarkets based upon different needs or product preferences. A key factor in competitive success is focusing on little differences that give a marketing edge and are important to customers. Market segmentation matches consumer differences with potential or actual buying behavior. It may prove more profitable to develop smaller market segments into a target segment The newspapers market consists of all daily and non-daily newspaper titles. The market's value is calculated as the sum of newspaper sales and advertising revenues. Any currency conversions used within this report have been calculated using constant 2004 annual average exchange rates. The global newspapers market has been struggling in recent years, in spite of strong growth from developing markets such as China and India. A key factor to success in today's market place is finding subtle differences to give the business a marketing edge. A business that targets specialty markets will promote its products more effectively than a business aiming at the "average" customer. What makes the business unique? How can these unique features be promoted to "targeted" customers? Some businesses treat the market as a whole, focusing on what is common to the needs of customers, rather than on what is different. Often called undifferentiated marketing, this technique relies on mass advertising and is implemented on the basis of cost savings to the business. Undifferentiated marketing is successful when the competition is scarce or the product has mass appeal.
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To determine whether differing attitudes toward, and the utilization of, the daily newspaper are related to the variable of age, 481 persons responded to a questionnaire designed to measure their attitudes and opinions about mass media in general and their evaluations of newspaper content in particular. The findings revealed the following patterns: those respondents in the 19- to 24-year-old group found television news and entertainment less biased and more interesting than that of the newspaper, but used the newspaper as an advertising source; those in the 25- to 34-year-old group tended to follow the evaluations of the younger group with the exception that they turned to the newspaper as a source of consumer education and daily living information; the 35- to 44-year-old group placed greater value on the advertising content of the newspaper than did the younger groups and was less critical of its news coverage; and the three older groups (45 to 54, 55 to 64, 65 and older) appeared to be increasingly less critical than the younger groups of newspaper coverage, and showed less interest in consumer information than in local and national stories and church news. According to survey the most preferable business news paper is Economic Times
70% 60% 50% 40% customer satisfication 30% 20% 10% 0% BS FE BL others ET preferable
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Criteria for Preference of the Business Newspaper by the customer perception about ET are as in the figure
new product availability price service quality 0% 20% 40% 60% 80%
others FE BL ET BS
According to the customer perception the Economic Times business newspaper is better as compaired to other business newspaper like Business Standard,Business Line,Financial Express etc.in this figure according to the quality as by customer satisfiction of ET is 65%,price is 55%,service is 63%,availablity is 60%.where as others newspapers are according to price,quality,service,availability of Business Standard is 62%,61%,41% ,39% and financial express is 44%,33%,49%,50% .and Business Line is 52%, 32%, 48% ,59% .
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According to survey the improvement of the product as by customers are the quality is 25%,service 32%,avaailability 4%,cost 11%,new product 28%.The objective here was to find out that what according to Business Standard are the areas of improvement upon which Companies should work so as to change their Satisfaction level to Delightment and pull them up in the Loyalty ladder.
quality service cost new product availability
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CRM strategy
Customer relationships are a very important factor for their success. Customer relationship management (CRM) is a strategy that can help them to build long-lasting relationships with their customers and increase their profits through the right management system and the application of customer-focused strategies. CRM strategies can vary in size, complexity, and scope. Some companies consider a CRM strategy only to focus on the management of a team of salespeople. However, other CRM strategies can cover customer interaction across the entire organization. Having a CRM strategy is one of the most important parts to growing a business. How can you manage and take a business to the next level if you arent able to quickly see how your sales team is performing, or accurately see all the activity of your customers? Do you know your customers birthdays? Are you able to estimate what your revenues might be for the next quarter? Customer Support - Customer service objectives are: obtain basic information about customers and their complaints, customer satisfaction monitoring and faster complaints resolution in order to raise customer retention rates, to increase self-service efficiencies, and to mitigate the need for in-person assistance. Marketing - The marketing department is interested in performing dynamic customer segmentation to begin more targeted customer communications and campaigns, refined marketing campaigns, customer satisfaction by segment analysis, and tracking campaign responses. Sales - The sales department objectives are to deploy sales force automation across regions, to track contact history, to streamline the sales process, and to qualify prospects based on past experience. Field Service - Field service implies the service or repair of the customer's equipment on the customer's premises. Field service engineers need to monitor customer complaints and repairs histories. Readers are increasingly turning to other media for their information and advertising needs new media are intrinsically more interactive. We need to understand readers needs in order to improve our current products and establish new alternatives. As well as seeking alternative means of communication, advertisers are adopting CRM themselves, in order to establish direct
relationships with their customers, bypassing the role of the media. We must exploit our relationships with our readers more effectively in order to service our advertisers more effectively This includes, but is not limited to, improving customer service. A good CRM program will allow a business to acquire customers, service the customer, increase the value of the customer to the company, retain good customers, and determine which customers can be retained or given a higher level of service. A good CRM program can improve customer service by facilitating Communication in several ways: Increases the efficiency of customer interaction through all the communication channels available. Facilitates the collaboration between the client and the provider using the web, thus reducing the costs of customer relations management. Provides product information, product use information and technical assistance on web sites that are accessible 24 hours a day, 7 days a week. Identifies how each individual customer defines quality, and then designs a service strategy for each customer, based on these individual requirements and expectations. Provides a fast mechanism for managing and scheduling follow-up sales calls to assess postpurchase cognitive dissonance, repurchase probabilities, repurchase times, and repurchase Frequencies -Provides a mechanism to track all points of contact between a customer and the company, and does it in an integrated way, so that all the sources and the types of contacts are included, and all the users of the system see the same view of the customer (reduces confusion).
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Provides an user-friendly mechanism for registering customer complaints (complaints that are not registered with the company cannot be resolved, and are a major source of customer Dissatisfaction). Provides a fast mechanism for handling problems and complaints (complaints that are resolved quickly can increase customer satisfaction). Provides a fast mechanism for correcting service deficiencies (correct the problem before other customers experience the same dissatisfaction). Uses internet cookies to track customer interests and personalizes product offerings accordingly. Provides a fast mechanism for managing and scheduling maintenance, repairs and on-going support (improves efficiency and effectiveness).
.CRM strategy use of Business Standard is followed in three point that are 1-Operational - automation to the basic business processes (marketing, sales, service)
2. Analytical - support to analyze customer behavior, implements business intelligence alike technology
3. Co operational - ensures the contact with customers (phone, email, fax, web...)
Business Standard Ltd .use four parameter to measure in CRM success
a) CRM's
ability to impact corporate strategy:
Without a corporate strategy, giving emphasis to a customer-centric approach, no CRM initiative can be made fully successful.
b) Successful technology integration:

The technology which has been used across different departments of an enterprise should be integrated to give a comprehensive and successful CRM application.
c) Enhanced strategic partnerships: For a good CRM implementation, there should be a co-ordinate effort among the different partners to the enterprise.
d) Assimilation of CRM related technologies: Those who are responsible for the CRM activities should thoroughly be conversant with the technological aspects of that particular technique. Otherwise, misuse or under utilization of these technologies may take place resulting in partial or full failure of those activities.
The selling process of Business Newspaper in India involves various steps on CRM strategy That are as follows Prospecting and Evaluation:
This is the stage where potential customers are found and evaluated. It is first necessary to identify that the potential customer has the willingness, ability and authority to buy the product. This would involve first generating sales leads. In the case of newspapers customers could be Financial Institutions, IT employees, students preparing for their CAT examination MBA students and other institutions like Hotels, Airlines etc. Most of the times when a company or offices are approached with subscription offer the gatekeepers are encountered who are actually the receptionists and security guards and they don't have the authority to buy the paper but pose a challenge to the final sale from happening.
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Pre approach:
In this stage the process of approaching the client is decided. This involves deciding on the approach establishing objectives of the sales call and preparing for a presentation. We need to analyze what are the product features in which the customer will be interested and focus on those during the presentation.
This stage involves deciding whether it will be enough to do a simple cold call or to set up an appointment which is needed in case we want to set up a stall. Like in the case of setting up stalls in IT companies where a larger section of our targeted population can be met it becomes essential that we first fix up an appointment with the facilities manager asking his permission to set up the stall. Approach:
This stage involves getting in initial contact with the customer by meeting him and generating interest in the product. Once the salesmen we are with the customer they would make a presentation making him aware of the characteristics of the paper, the discount and the magazines that are on offer.
While selling to Financial Institutions sales representatives focus on presenting the various Business magazines that the customer will get if he subscribes. While pitching to younger customer salesmen focuses on the monthly magazines which are more enticing to them. While making presentations to corporates the focus is on the operational efficiency and convince the Facilities Manager that the implementation will be starting in 2 weeks time from when the employees start signing up for the subscription.
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Handling Objection:
The most common objection which is encountered during the selling is the fact that most customers who are regular readers of others newspapers are very loyal and are unwilling to change. This is the time when distinguishing features of the products need to be highlighted for example Business Standard highlights the fact that it has has various sections like the BS 200
which gives the complete analysis of the 200 companies that were traded the most on the stock exchange the previous week. This section on the paper is something unique only to Business Standard. Also 'The Compass' which is a small segment in the Business Standard Newspaper assists people in making their investment decisions as to which sector they should invest their money in was also of interest to people who were more investment focused.
And of course the magazines which are offered are another reason why most of these customers get ready to buy the subscription. Also the supplements like Brand Line, Life by Business Line, and The Smart Investor by Business Standard are highlighted to entice the consumers to purchase the subscription.
Some of the customers are worried about the implementation time this is where sales person had to tell the customers about how we will be ensuring that they get a regular supply of their business standard by interacting with their vendors and start the delivery of their newspaper to their home in 2 weeks.
Closing:
At this stage the customer is more or less aware of the product and has made up his mind to either go ahead with the sale or not. If the subscription are attractively priced most customers prefer to go for the plan offered and want to first get a look at the service being provided. Thus most people will either back out at the middle of the presentation, while others stick around to try and see what they are getting for their money. By the time salesman pops the final question
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whether the customer wants to pay by cash or cheque the customer usually has made up his mind.
A successful CRM vision is vital to successful CRM initiatives. Five critical components are necessary for a complete CRM vision: strong leadership, a corporate personality, a model customer experience, customer-centricity and a supportive corporate culture. A CRM strategy outlines plans to develop valuable customer relationships, and creates a competitive position that makes the most of a company's customer assets. To be successful, a strategy must support a company's vision, set key objectives and create a measurable plan of action
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Analysis and interpretation
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Analysis and interpretation

DATA COLLECTION
Questioning & observing are the two basic methods of collecting primary data. Questionnaire studies are more relevant than observation studies.
Importance of Questionnaire:-
When information is to be collected by asking questions to people who may have the desired data, a standardized form called questionnaire is prepared. The questionnaire is a list of questions to be asked to the respondents. Each question is worded exactly as it is to be asked & the questions are listed in an established sequence. Spaces in which to record answers are provided in questionnaire. Table-1 The number of readers buying business newspapers. NEWSPAPER BS NO OF READER 20 HT 17 BL 14 ET 33 FE 12 OTHERS 15
no. of reader
35 30 25 20 15 10 5 0 BS HT BL ET FE OTHERS no. of reader
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OTHERS, 15 FE, 12
BS, 20
HT, 17
ET, 33
BL, 14
ET- The Economic Times enjoy the lions share in the business newspaper market. Economic Times is the number 1 name when business news is taken into consideration. Economic times has captured the market & is a brand name in the minds for the people in business newspaper, as it gives all the information about the business, shares, investment etc. Other newspaper like Hindustan Times, Business Line, DNA & Business Standard are also brand names but their market share is low as compared to Economic Times.
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Table -2 The brand of newspapers which we recalling .
BS student corporate IT professional CHARTERED ACCOUNTANTS 19% 27% 22% 8%
BL 20% 24% 10%
ET 29% 29% 16%
FE 13% 17% 12%
18%
20%
20%
STUDENT
CORPORATE
13 % 2 0 % 29%
2 7 %
BS ET BL FE
17 % 24 %
2 2 %
BS ET BL FE
29 %
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IT professional
CHARTERED ACCOUNTANTS
12 %
8%
19%
BS ET BL
18 % 1 8 %
BS ET BL
10 %
16 %
FE
20 %
FE
As shown in the above pie charts the analysis that charted accountants are on top to recall the brand business standard followed by the students. IT professional belong to that kind of census who does not know about business standard more. Few of them are aware about this newspaper brand. Rests of them even do not know that there is a newspaper named business standard .charted accountants and students are frequently reader of the newspaper so they can recall this brand very easily. The analysis also shows that ET is the most recallable brand among all the kind of people whether they belong t students As, IT people or other corporate.
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Ranking of the business newspaper according to the different parameters by customers perception According to content Rank 1 2 3 4 According to price Rank 1 2 3 4 According to service Rank 1 2 3 4 Newspaper Economic Times Business Line Business Standard Financial Express Newspaper Business Standard Business Line Economic Times Financial Express Newspaper Economic Times Business Standard Business Line Financial Express
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Table-3 Criteria for choosing a business newspapers Price Editorial advocacy Progressive outlook 25% 40% 35%
Editorial advocacy 35%
Price 25%
Price
Progressive outlook Editorial advocacy

Progressive outlook 40%
A criterion was prepared so as to find what the bases on which people buy newspaper are. From the research we came to know that progressive outlook has much more importance. Then comes editorial advocacy followed by price.
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Table 4 The price of an ideal business newspaper.
Price <3 <4 <5
Preferred 41% 39% 20%
PREFER
80% 70% 60% 50% 40% 30% 20% 10% 0% <3 <4 <5 PREFER
From the survey we came to know that the price range preferred by the target audience was between Rs.2 Rs.4
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Table 5 Most number of in-depth/intelligent articles providing newspapers Newspaper BS Article in % 8.87 mint 20.14 IE 6.83 ET 16.04 BL 13.99 TOI 11.95 HT 4.78 Others 17.4
Ever since its launch, Mint has always positioned itself as a newspaper that analyzes developments in the financial worlds and presents them in a way that is easy to understand to the reader. It has also put focus on coming up with more in-depth feature stories than providing short news bytes. in here the Business Standard value is 8.87%.
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Table -5 The most number of inside stories/or spicy bits of companies Newspaper percent HT 14% BS 18% TOI 23% BL 11% ET 30% MINT 4%
percent of inside store

30 25 20 15 10 5 0 HT BS TOI BL ET MINT percent of inside store
The Economic Times, as we know, has come out with stories that have created many crisis like situations for many of our clients. Exclusives, inside stuffs - the kind of things the journalists out there always seem to be after.
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Table -7 The best predictions of economic trends/ business houses Newspaper BS Percent 31 ET 21 FE 13 BL 10 TOI 11 MINT 7 OTHERS 7
35 30 TREND RATIO 25 20 15 10 5 0 TREND RATIO
NEWSPAPERS
The best prediction of economic trends providing newspaper is Business Standard. it provide 31% of economic trend /business house then economic times and financial express. According to the business newspapers readers.
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Business Standard Ltd. Table-8 The area of improvement to reach expected level of Satisfaction
Service Quality Availability
66% 51% 49%
improvement
Availability
service
quality
The customer satisfaction in the area of improvement to reach expected level the service level is higher that is 66% , then quality and availability level that are 51% and 49%.
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Table -9 The widest gamut of news coverage Newspaper TOI EC HT BL HINDU BS IT MINT & OTHERS coverage 29% 19.52% 12.33% 11.99 7.88% 6.85% 5.48% 4.79&1.37%
Some people have questioned that why include the dailies like The Times of India among the financial dailies. Our take was that these dailies today come up with sections of 8-10 pages of business news that have become financial newspapers in themselves. But perhaps the widest gamut of news coverage might not be limited to only business news here.
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Table-10 Customer preference about business newspaper NEWSPAPER BS ET 34% FE 14% BL 11% OTHERS 16%
PREFERENCE 25%
35% CUSTOMERS PREFERENCE 30% 25% 20% 15% 10% 5% 0% CUSTOMER PREFERENCE
NEWSPAPER
Customers preference about business newspaper the economic times is higher in the market that is the 34% percent people prefer this newspaper. then the business standard is the 2nd preferable business newspaper in the market25% people prefer business standard. then FE,BL is 14% and 11% and others paper 16%..
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Table-11 Customers satisfaction level of the business standard according to different parameter that are price, contend, product quality, and service. Parameter Satisfaction level price 45% Product quality 41% contend 61% Service 23%
satisfaction level
satisfaction level 61% 45%
41% 23%
price
product quality
contened
service
According to the customer satisfaction level of Business Standard the service is very low the service quality is 23%.according to the customer perception the business standard contend is good and price is also good.
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OBSERVATIONS Student are very impressed by the supplements which are published by Business Standard and the most favorites supplements are Smart Investor and The Strategist. The quiz section of the strategist is the most favorites column among the students as well as finance people. customers are pretty impressed by the content and quality of the newspaper. They are also impressed by the Stock pages news but they are unhappy with the policy of the company as the company is not publishing any issue on Sunday. In India .there are so many corporate offices but many of them are not aware of the brand Business Standard. In student community, the most favorites Business daily is Economic Times but they also used to read Business Standard newspaper as well as those magazines and supplements which regularly come along with the newspaper. In the corporate offices. Economic Times is the most preferable business newspaper. Many of them have been already converted to Business Standard because they found those magazines very apt to their need. In corporate office , magazines like Fund Manager and Banking Annual are quite popular and generally they read those magazines also but they want those magazines more frequently. I have also observed that many of the IT professional were confused when they have been asked to read Business Standard as this newspaper doesnt have any single page for IT professional only like other pages. So many people are rating this newspaper good at the same there were certain executives who have rated this newspaper as worse. They were telling that the Editorial column of this newspaper is the worst page of the whole newspaper and the content of this newspaper is also cheap. According to them this newspaper does not have quality. Though each newspaper publishes SUDOKU but still some IT professionals like SUDOKU of the newspaper Business Standard only. According to them the quality of the SUDOKU provide by this paper is quite different from others.
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According to some of the customers Business Standard provides more numerical information about the detailed news means it provides more quantitative news than qualitative news.
Recommendation
The customer is the main part of the business and all company want how to their customer satisfy. Customer expectations are going up which is making the situation more and more competitive. As the product is becoming generic in nature, the newspaper industry can no longer rely on the traditional marketing strategies to retain the customers. I would like to recommend some suggestions which could be implemented profitably by the industry. The product quality and service should be good Taking feedback not only the from external customer but also the internal customers. Keeping regular track of the sales data for further leads and follows up. CRM to improve the customers satisfaction lower operating costs, built customers loyalty and increase revenues Giving recognition awards to attract old customers. Giving the more offers of the product to the customers. Targeting the customers for the target market. Giving the customers a more personalized and empathic services as building good rapport with the customers goes along way in having satisfied and return customers.
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CONCLUSION Customer is the most important person for a business. He is not an interruption to our work but the purpose of it. He is not an outsider; he is a part of it. We are not doing him a favor; he is doing us a favors by giving us an opportunity to serve him. Business Standard is very good organization with very good, friendly and capable staff. In matters of content and quality. Business standard sets out to be an example to the other upcoming newspaper. Business Standard is very popular business daily among the educational institution and also between the people related to the finance like stock brokers, Character accountants etc. After completing the survey it can be concluded that the supplements and those annual magazines which are being given along with the newspaper is the key to success of the newspaper. Moreover this is the only newspaper which is having collaboration with a foreign daily named Financial Times of London which also affect the sale of this newspaper. In this survey I came to know that in certain areas which are outskirts to the city, the awareness is there about the newspaper at that extent which should have to be there. Not only in the outskirts to the city also in the city there are some areas like Paradise where the corporate people are lacking in the awareness about the product. Today service plays a vital role in success of any brand or product and this newspaper is lacking behind in this service factor as so many people has given suggestion to improve the service of the newspaper so it can be concluded that somehow the Supply Chain Management (SCM) need to be improved. Apart from those factor, the quality, content and layout of the newspaper is very impressive and liked by so many corporate people , students, stock brokers, IT professionals and chartered accountants which are the potential customers of this newspaper.
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QUESTIONNAIRE
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Questionnaire design .. .. male female .. ..
Name: Age: Gender: Address: Phone no.:
1. Which business newspaper do you buy? _________
2. What are your criteria for choosing a business newspaper? a] Price b] Progressive outlook c] Editorial advocacy
3. In your opinion what makes an ideal newspaper? Please rank the following in the order of importance. [1 being the most important & 5 being the least]
a] Local business news/issues b] Taking a stand on issues c] Independent & transparent d] Active interaction with readers c] Judicious mix of local, national & international business news
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Business Standard Ltd. 4. What are the aspects vital to an ideal business newspaper? Rank the following
a] Better balance of business news & political news b] Career information c] Guidelines for investors d] Renowned writers e] More sections on subject of interest f] International business news
5. What should be the price of an ideal business newspaper according to you? a) 2 b) 4 b) 3 d) 5
6. If an ideal newspaper is offered as defined by you? Would you subscribe to it?

Yes. No 7. Please Rank (on a scale of 1-5) the following criteria for your Preference. (1-not important, 2least important, 3-important, 4-more important, 5-Extremely important) Criteria Ranking
Services
Availability
Quality
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Business Standard Ltd. Product Range
Price
8. How much are you satisfied with the company that you generally prefer Most? Not At All a Little Average More Than Average Fully . .. .
9. Which is the area of improvement to reach your expected level of Satisfaction?
a). Availability b). Services c). Quality 10. your view in order to improve the services which are areas of improvement (please suggest)
11. are you aware of the various features of Business Standard newspapers?
Yes
No
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Business Standard Ltd. 12. rank the following newspapers according to the content (1,2,3,4) Business Standard Economic Times Business Line Financial Express .
13. Please Rank the Representative of the following companies on the following
Parameters. (1-poor, 2-average,3-good,4-V.good,5-excellent) Parameters Behavior BS FE BL ET
Product Knowledge
Appearance
14. Which feature do you like most of Business Standard ?
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ICBM-SBE, Hyderabad
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Business Standard Ltd.

ICBM-School of Business Excellence HYDERABAD www.icbm.ac.in

Business Standard Ltd.

Business Standard Ltd.

Business Standard Ltd.

Company analysis.. Newspaper industry in India Company profile Product profile

11. Conclusion 12. References..

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Objective of the study

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Company analysis Newspaper Industry in India

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Business newspaper in India

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Product profile of Business Standard Ltd.

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Feature of the Business Standard

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RESEARCH DESIGN PROCESS

Preliminary planning stage

Estimate value of research information

Constructing questionnaire Design sampling plan

Compare cost & timing estimates with anticipated value

Data collection & Analysis

Conclusions & Recommendations

Business Standard Ltd.

What new product should be developed?

Boxed lunches are better than other forms.

What product appeal will be effective in advertising?

What benefit do people seek from this product?

How can our services be improved?

What is the nature of any customer dissatisfaction?