The Newspaper Industry can be said as the most trusted Industry as people believe whatever is written in the newspaper as facts and day to day happenings. My motive was to broaden the spectrum of trust and acquire more customers for Business Standard Newspaper For every industry to be successful in its domain, it is necessary that a detailed analysis be done regarding its customers, the competitive environment, the customer’s preferences and the demand.
This was perhaps one of the most important purposes of my project i. e. to collect a primary data.My job was to meet the Managers of Banks and various other Financial Institutions, get their feedback on Business Standard and other financial dailies they read and explain them the subscription plan. It was a great learning experience on field.
I got hands – on exposure to sales and the response of the people with whom I interacted help me in a great way to get a proper analytical data for concluding my project. The project put light on some facts and helped me understand the customer behavior and their preferences.The history of newspapers is a dramatic chapter of the human experience going back some five centuries. Before the invention of newspapers in the early 17th century, official government bulletins were circulated at times in some centralized empires. In Ancient Rome, Acta Diurna, or government announcement bulletins, were made public by Julius Caesar. They were carved in metal or stone and posted in public places.
In China, early government-produced news sheets, called tipao, circulated among court officials during the late Han dynasty (second and third centuries AD).Between 713 and 734, the Kaiyuan Za Bao ("Bulletin of the Court") of the Chinese Tang Dynasty published government news; it was handwritten on silk and read by government officials. In 1582 there was the first reference to privately published newssheets in Beijing, during the late Ming Dynasty. In Early modern Europe the increased cross-border interaction created a rising need for information which was met by concise handwritten newssheets. In 1556, the government of Venice first published the monthly Notizie scritte, which cost one gazetta.
These avvisi were handwritten newsletters and used to convey political, military, and economic news quickly and efficiently to Italian cities (1500–1700) — sharing some characteristics of newspapers though usually not considered true newspapers. However, none of these publications fully met the classical criteria for proper newspapers, as they were typically not intended for the general public and restricted to a certain range of topics.Worldwide newspaper sales edged up by more than two percent in 2007 while advertising revenue recorded significant gains, according to the World Association of Newspapers. In its report on trends in the newspaper industry, the WAN said nearly 515 million copies of newspapers were sold daily in 2007 and read by an estimated more than one billion people worldwide.
China, India and Japan were the world's biggest newspaper markets in 2007 and China overtook Japan as the country with the highest number of publications in the world.Three-quarters of the world's 100 best selling daily newspapers were now published in Asia where sales were up 4. 1 percent for the year. The figures from WAN's annual survey of press trends, were released to more than 1,300 publishers, editors and other senior newspaper executives from 81 countries attending the World Newspaper Congress and the World Editors Forum, Asia's biggest ever media gathering.
Worldwide newspaper circulation grew 2. 1 percent, the number of daily titles was up two percent and advertising revenue rose 5. percent, its biggest jump in four years, the WAN report said. "It has been an extraordinarily positive 12 months for the global newspaper industry," said Timothy Balding, director general of the Paris-based WAN.
"Newspapers are clearly undergoing a renaissance through new products, new formats, new titles, new editorial approaches, better distribution and better marketing. " The Indian Newspaper industry can be primarily segmented across two categories viz English Newspapers and Regional / Vernacular Newspapers.The English medium dominates the industry in terms of advertisement revenues, though vernacular newspapers outperform the English newspapers in circulation. English newspaper industry in India has been fragmented with the players having a regional focus such as the Deccan Chronicle in Hyderabad, Hindustan Times in Delhi, Times of India in Mumbai, Hindu in Chennai, Telegraph and Statesman in Kolkata, Deccan Herald in Bangalore, Gujarat Samachar in Ahmedabad.
However, the industry is witnessing a trend whereby players are looking beyond their home territories viz.Times of India’s and Business Standard’s entry into certain newer territories and Deccan Chronicle and Hindustan Times also doing the same. The competitive landscape has now drastically changed with major publishers trying to expand to other geographic regions, initiating price wars and marketing campaigns to win readers. The competitive intensity, which was quite “mild” until few years ago, also reached a higher level with the launch of DNA and Hindustan Times in the Mumbai market.A booming economy and the opportunity to raise funds from a well-developed financial market have also contributed to the growth of the newspaper industry in India.
Indian newspaper industry had a turnover of Rs 13,500 crore in 2006. It is expected to touch Rs 15,500 crore. The size of media industry in India as a portion of the GDP is estimated at 0. 7%, which is lower than most of the developed and developing nations. Thus it offers a scope of high growth in this industry moving forward.Advertising expenditure to GDP reveals that advertisement expenditure to GDP ratio in India is 0.
%. With rising income and education level in India, readership is expected to rise and with favorable demographics, advertising revenues will increase as advertisers start spending more to attract higher quality audience with more purchasing power. Newspaper publication is 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 sometimes 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 the time, they see a newspaper, most people have already learned about breaking news stories on television or radio. Readers rely 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, artists, and editors compile articles and graphics—sometimes in just a few hours. Page designers assemble articles, photos, illustrations, advertisements, and eye-catching headlines into page layouts, and then rush their work to the printer.Newspapers as known today are complete with advertising and a mixture of political, economic, and social news and commentary. Publication of Business newspapers started in India by the launch of Economic Times on 5th march 1961.
It has traditionally been the essential reference document on Indian business, polity, economy and finance. Its focus on the managerial component and evolving business in India and abroad makes it the favorite amongst intellectuals, managers as well as students and researchers, having recorded a staggering growth of 150% over the past few years.The Economic Times has emerged as the most widely circulated economic and business daily in the country and among the top three English financial dailies in the world. Business Standard was started in 1975 by the Ananda Bazaar group in what was then Calcutta, the paper was hived off as a separate company in 1996, and then bought by Mumbai-based financial investors, after which it began a phase of rapid expansion with the launch of new editions. The Financial Times of London took an equity stake in BSL in 2004.
Business Line or The Hindu Business Line is an Indian business newspaper published by Kasturi and Sons, publishers of the’’ The Hindu’’ newspaper. Business Line started publishing in 1994. It is India's youngest business newspaper and also the country's second largest selling, with a circulation of one lakh copies, next to the Economic Times. Financial Times entered into the market after Business Line, so did the Hindustan Times, Mint and Financial Chronicle which is the youngest of the lot.
