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8/6/2019 Amit Chhabra Cimr Final Report
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CHETANA’S INSTITUTE OF
MANAGEMENT AND RESEARCH
PGDM 2010-2012
SUMMER INTERNSHIP
PROGRAMME
FINAL REPORT
FACULTY GUIDE COMPANY
GUIDE
PROF. SUNITA SRIVASTAVA MR. SHYAM P
NAIR
(HEAD FACULTY {MARKETING}) (DY GENERALMANAGER)
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SUBMITTED BY
SRIKESH RAMKRISHNAN
{ PG – C (08) }
A
PROJECT REPORT
ON
PROMOTION OF MINT
SALES IN INSTITUTIONS
{ HOTELS, HOSPITALS, B-
SCHOOLS, STOCK
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BROKERS, BANKS,
CORPORATES }
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ACKNOWLEDGEMENT
With immense gratitude I acknowledge Mrs.Madhumita Patil,
Director of CIMR Mumbai for giving me the opportunity to do my
SIP.
I am extremely indebted to Mr. Shyam Nair, Dy General
Manager at HT media, for giving me an opportunity to take up this
project. He tried to give a direction and focus to my project and
helped me throughout the journey. I would like to thank him for
his continuous support and also his never ending patience which
he showed towards my ideas and efforts.
I express my sincere thanks to my faculty guide Prof. Sunita
Srivastava, Faculty, CIMR, Mumbai for her guidance, support,
valuable suggestions and co-operation which motivated me to
push my limits and scale greater heights.
I would also like to thank to my family and friends who constantly
supported and assisted me in the successful accomplishment of
this project.
Finally, I would like to thank all those who are directly or indirectlyassociated with my project.
This project is dedicated to them all.
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Amit Chhabra
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TABLE OF CONTENTS
TOPIC PAGE NO.
1) INTRODUCTION
a) Background of the organization
6,7,8,9
b) Objectives of the study
10,11
c) Limitations 12
2) LITERATURE REVIEW 13 -
17
3) METHODOLOGY 18 -
23
4) CONCLUSION
a) Key learning’s 24
b) Recommendation 255) BIBLIOGRAPHY 26
6) APPENDIX
a) Copy of questionnaire 27
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EXECUTIVE SUMMARY
The project undertaken by me covers all the areas that
deal with the promotion of newspapers. It covers the
areas related to the overall strategic planning in the
newspaper industry. For better understanding of the
project needs, I have studied the whole system of
newspaper branding and promotional strategies. This hashelped me know what is done where and by whom. With
the knowledge of this I have studied the work done by
various heads.
As my project revolves around the study of business
daily’s industry , I have studied the various methodologyby which the newspapers are promoted and distributed
by the company and what are the benefits and
disadvantages of the same. I have also analyzed the
various schemes and type of subscriptions that the
publication house provides. The distribution channel seen
in the newspaper industry as a whole is also studied. This
has been done keeping in mind its implication to my
project.
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I have also put in the details of the leads i.e. my target
population and the flow of the project undertaken. The
project speaks about all these factors in detail and briefs
about everything that I have come across and was of
importance to the project.
CHAPTER 1 : INTRODUCTION
BACKGROUND OF THE
ORGANISATION :
HT Media found its beginning in 1924 when its
flagship newspaper, Hindustan Times wasinaugurated by Mahatma Gandhi. HT Media (BSE,
NSE) has today grown to become one of India's
largest media companies.
Produced by an editorial team known for its quality,
innovation and integrity, Hindustan Times (English
newspaper) and Hindustan (Hindi newspaperthrough a subsidiary Hindustan Media Ventures
Limited), have a combined daily readership base of
12.7 million (based on round 2 of Indian
Readership Survey 2009) to their credit. Both
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dailies enjoy a strong brand recognition among
readers as well as advertisers.
To cater to the large readership base, HT Mediaoperates 19 printing facilities across India with aninstalled capacity of 1.5 million copies per hour.
In addition to Hindustan Times, HT Media alsopublishes a national business newspaper, Mint .Mint is a one-of-its-kind newspaper in the sensethat the company has an exclusive agreement with
the Wall Street Journal to publish Journal-brandednews and information in India. Mint is today thesecond-largest business newspaper in India withpresence in the key markets of Delhi, Mumbai,Bangalore, Chandigarh, Pune and now Kolkata too.
HT Media has also made its foray into electronicmedia. Diversifying its ambit of operations, thecompany in a consulting partnership with VirginRadio, has launched the FM radio channel - Fever104. Currently available in Delhi, Mumbai,Bangalore and Kolkata, Fever 104 has establisheda strong presence as being one of the most vibrant
channels on air.
Internet businesses of HT Media incorporated underFirefly e-ventures, operate leading web portalsHindustantimes.com and livemint.com in the
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general and business news categories respectively. The company's year old job portal Shine.com whichhas received high appreciation from consumers
and industry for its innovative design and usabilitycrossed 2.2 million registrations. Desimartini.com -a social networking site was also launchedrecently.
VISION AND VALUES:
The solid edifice on which HT Media stands tall
today was built on high ideals and values.
Values
HT Media – A rich heritage to live up to!
Organizational values are the foundation stones on
which the organization’s image is built. These helpthe company realize its organizational goals and in
turn transform lives. These values are intended to
infuse an infectious energy, professionalism and a
sense of true empowerment to the workplace.
The solid edifice on which HT Media stands tall
today was built on high ideals and values. The
company has its roots in the independence
movement in the first half of the twentieth century,
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a cause to empower the nation. We are adaptive to
the changing times, while remaining steadfast to
the values rooted in our culture.
Our values drive us towards our goals of expansion,
diversification and excellence. These values define
our philosophy of operations, guide our important
decisions and determine our commitment and
achievement.
The values personified by HT Media are:
Courage
To encourage the ability that meets opposition with
skill, competence and fortitude.
Responsibility
Be accountable for results in line with the
company’s objectives, strategies and values.
Empowerment
Support our people and give them the freedom toperform and to provide our readers with
information to influence their environment.
Continuous Self Renewal
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Determination to constantly re-examine and re-
invent ourselves for further innovation and
creativity.
People Centric
People are our greatest asset. We invest in them
expect a lot and know that the rest will follow.
Vision
HT Media strives to be a visionary organization and
not an organization with a vision. In our endeavour
to have a shared understanding, alignment and
commitment , we have derived our company’s
vision that sets the course and empowers people to
take
action.
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OBJECTIVES OF THE STUDY :
To promote HT and MINT sales in institutions(Hotels , Financial institutions , B-schools ,Hospitals, Stock Brokers etc….)
• Showcase our product to clients -
After the pre call preparation i.e. homework the
main objective was to demonstrate our product to
the target client in order to make them aware of
the product and its USP’s in detail.
• Target readers who are already exposed
to business papers – The main focus was to target those readers who
are reading any kind of business papers and tell
them to add on our paper to their existing paper as
we cannot tell a reader about his/her brand choice.
• Major focus on line copy –
HT told us to focus more and more on line copies
rather than subscription but we were not able to
make conversions rather we sold a good no. of
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subscriptions copies as every reader was
interested for subscriptions as they were getting
this benefit from other newspapers.
• Other objectives:
Learn the business model of the print media
industry.Understand the functioning of the print industry.
Learn the negotiation skills.
Learn selling skills.
Acquire first hand experience of the interaction with
the clients.
Study the human behavior in print industry.
Understand the trends in print industry.
Understand the practicality of whatever we learned
in the classroom during our past 1 year.
Understand the distribution process involved in the
print industry.
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How to constantly innovate the business model in
order to survive the competition.
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LIMITATIONS:
• Contact HO but difficult to take
appointments –
This was the major problem faced by many of us as a
large no. of corporate offices tell us to contact their
head office as the decisions regarding newspapers
were taken by HOD.
•
Strong influence of ET on readers – This was the most common reason given by readers
when they were not interested as they were reading
ET from a long time and they were not at all
interested in changing their existing paper.
• Free supplement from DNA –
DNA started distributing free supplement as peoplethought they were giving a business paper for free
which was a major concern for us .
• Changing mind of readers –
There were many leads which liked our product a lot
and they gave us appointments to visit later but due
to changing minds of readers those conversions were
not done. Around 10 conversions were not done by
me due to this reason.
• Cheque Vs. Cash –
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HT follows a very good policy of dealing only in
cheque but many of our friends who are students
were not able to give cheques which was one of the
major concern.
CHAPTER 2 : LITERATURE REVIEW
THE SIX MAJOR STEPS OF EFFECTIVE
SELLING:
PROSPECTING AND QUALIFYING
PREAPPROACH
PRESENTATION AND
OVERCOMING OBJECTIONS
CLOSING
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ABOUT THE PRODUCT: MINT
A business paper from Hindustan Times in
collaboration with The Wall Street Journal. It
was launched on 1st Feb 2007.
Hindustan times is a highly influential 87- year old
newspaper , inaugurated by Mahatma Gandhi. It is
India’s 2nd largest English newspaper and the
largest in Delhi.
The Wall Street Journal is the most authoritativebusiness publication in the world for over a
hundred years. It is the world’s largest and
respected business brand.
MINT PORTFOLIO:Available 6 days a week in a refreshing design
,Mint gives us clear ,relevant and well analysed
Indian as well as International business news.
FOLLOW-UP AND MAINTENANCE
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We get relevant international business news in an
exclusive section from The Wall Street Journal
inside mint every day.
A convenient pull-out stocks and mutual funds from
Tuesday to Saturday. Markets Watch gives us
comprehensive and relevant market data to
analyse the day’s movements.
After a serious week of business ,unwind with
Lounge. All about books, travel, technology,parenting and health. This exclusive edition, every
Saturday, is filled with advice and suggestions to
help enrich our life.
CONTEMPORARY DESIGN:
The design of the paper is given by Mario Garcia –who has redesigned
Over 500 newspapers worldwide including The Wall
Street Journal. Mint gives a separate index for easy
navigation for reader’s convenience. The major
USP’s of mint are that it uses simple language with
no financial jargons ,it gives lively content, the ads
are well placed , it uses more and more pictures
and graphs that makes the newspaper visually
appealing.
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SIZE OF THE PAPER:
Mint has a unique Berliner size which is reader
friendly , easy to handle and much more
convenient as compared to a broadsheet which is
not easy to handle and a tabloid which is
considered a size for papers meant for
entertainment.
MINT – A SUCCESS STORY
• #2 business newspaper in the country as per
readership survey (IRS R2, 2009)
• 25% readership share in key markets of
Mumbai and Delhi.
• Award Winning Business Journalism
Gold in the best in
special coverage at
7th Annual Asia
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Media Awards competition organized by
IFRA Asia
CNN Young Journalist Award in December2007
As per Fortune magazine, “Mint has raised
India’s standards of business journalism”
CURRENTLY AVAILABALE IN:7 Cities – Mumbai, Delhi, Bangalore, Chandigarh,
Pune, Kolkata, Chennai.
The price of mint is Rs 2 per copy and it is available
from Monday to Saturday.
The price of hindustan times is Rs 2.50 per copy(Mon-Sat) and Rs 3 per copy on Sundays.
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TRAINING :
The summers internship
project started by HT
Media provided us with a
2 day training schedule
where they flew down their expert trainer from
their Delhi Head Office Mr.
Paramjit Singh and Ms. Angela.
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Mr. Paramjit Singh is HT Media’s expert sales
trainer and Ms. Angela is a product trainer.
On the 1
st
day of HT Media Mr. Paramjit Singh gaveus all the tools of sales and introduced the REED
PPB model of getting sales:
REED PPB: HT Media expert Mr. Paramjit Singh
believes that all the customers go through the
different stages of REEDPPB and it is the duty of a
salesperson to guide the customer through thisstages the most effective way. The following are
the stages of REED PPB:
o R = Recognition of need: At this stage it is
upto the salesperson to recognize the need
of the client and accordingly cater to theclient. The salesperson should be able to
germinate the need within the customers
he meet.
o
E = Evaluation of Options: Afterrecognizing the need which is germinated
by the salesperson there is always option
available with the customers which are
evaluated by them and it is the salesperson
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who takes the responsibility of helping the
customer to evaluate the options by
showing the advantages and
disadvantages of the various availableoptions.
o E = Elimination of Doubts: At this stage the
salesperson should be able to do the cost
benefit analysis i.e. the salesperson shouldhelp the customer to identify the factors
which will lead the customer’s value for
money which will lead him to prefer your
product over the competition. The
salesperson should solve all the doubts and
queries of the customer he is catering to.
o D = Decision to Buy the Product: At this
stage the customer finally makes the
decision to buy the product.
o PPB( Post Purchase Behavior) = The final
stage is the post-purchase evaluation of
the decision. Here in this stage the
customer experiences the utility of the
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product purchased. If he is satisfied with
the product he will make repeat purchases
or else will shift to the competitor.
CHAPTER 3 :
METHODOLOGY UNDERTAKEN:
The model followed by HT to promote its sales is
GET SALE method –
G – Greeting and introduction
E – Engaging to gain interest
T – Testing need through questioning
S – Solution proposal
A – Acknowledge and resolve objection
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L – Lead to close
E – Evolving a trust relationship
The main focus was on those who were already
exposed to business paper. Some of the guidelines
given to us were that always respect your buyers
choice, do not attempt to change the fundamentals
, think from the buyers mind and create hype and
curiosity but not to stretch much.
PATTERN OF WORK:
• Banks –
We 1st
started targeting banks which was a majorsuccess as a major amount of subscriptions were
coming from banks.
• Hotels –
We then moved to hotel category which was not at
all a successful task as many of them were already
subscribed and many of them told to contact headbranch office but at end it was not a successful task.
• Hospitals –
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We contacted a large no. of doctors but they were
not giving appointments at all.
• B - Schools –
We were allotted two B- schools each of which one
was chetanas and Sydenham college. In chetanas
they were already subscribed with 2 copies for library
and In Sydenham college they were not interested in
going for more no. of copies.
• Stock brokers –
I contacted many stock brokers of which I got
conversions also but the success rate was very low
as compared to banks and personal subscriptions to
friends and relatives.
DISTRIBUTON CHANNEL:
H.T. MEDIA LTD.
( DESIGNING , CONTENT , PLACING ADS
PRINTING PRESS
( PRINTING LATEST DONE BY 3 OR 4
DEPOTS
( ACCORDING TO REQUIREMENTS )
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DELIVERY
VENDORS
CUSTOMERS / READERS
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HT Media Ltd. :
News from various agencies and journalists are
gathered and edited in the office. All the designingand formatting is done with due care. After this a
rough print of that day’s edition is taken and then
finally sent to printing press.
Printing Press:
Once the final scrutiny is done, the mail is sent to
the printing press which is located in Airoli. Thenthe printing starts latest by 1:00 am and all the
printing work should get over latest by 4:00 am.
Depots:
After the printing is done the papers are sent to the
depots where bundles are made according to the
requirement of the vendors. Depots are generally
located near railway stations. The agency
responsible for distribution of HT - Mint in Mumbai
is Ms. Dagdat News Agency.
Vendors:
Vendors collect their respective bundles from the
depots and start distributing in their respective
areas.
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Readers:
Finally between 7:00 am to 7:30 am the readersreceive their copies of newspapers.
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CHAPTER 4 : CONCLUSION
KEY LEARNINGS:
• Sales - a pre-requisite -
As I am a fresher and I am doing my specialization in
marketing this was the best opportunity for me to
start my career as it is rightly said that to start with a
career in marketing you should always start with acore sales job.
• Convincing power –
As a sales job gives you an opportunity to interact
with so many people and selling newspaper help you
build a better convincing power.
• Interaction with business class –
This job has given me an opportunity to interact with
a large no. of elite class people like businessmen and
managers which has helped me to grab a good
amount experience to become successful at every
walk of life.
• Confidence boost up –
While working with HT group it has helped me to
build my negotiating and interpersonal skills through
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which I have gained a good amount of confidence in
a positive way.
Thus ,
“ Failure in sales will always make us learn
more and more lessons”
RECOMMENDATION:
• To fasten up all the documentation formalities.
•
Steps must be taken for brand awareness as itis just a 3 year old paper.
According to the survey, the above two points were
seen quite frequently where MINT lack in
comparison with any other business paper like The
Economics times or The Hindu, which could beimproved to increase the overall sale of the
newspaper. To solve the problem further
recommendation can be given they are:
• Internal organizational structure should be
carefully monitored.
• Timely feedback should be taken in the
organization in order to minimize the delay
flaws.
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Brand awareness
• Regular promotional campaigns to be done invarious B-schools, corporate houses etc.
• Advertisements should not be printed on the
cover page as every reader expects relevant
business news on cover page.
CHAPTER 5 : BIBLIOGRAPHY
•
Philip Kotler, Kevin Lane Keller, AbrahamKoshy, Mithileshwar Jha ;“Marketing
Management”, 13th ed.(Pearson Education,
2009)
• www.htmedia.in
• www.wikipedia.org
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• www.net-mba.com
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APPENDIX
QUESTIONNAIRE:
1) Which all business papers you know ? Which
one do you read?
2) What do you like about the paper you are
reading?
3) If reading MINT then do you find it different
from other business paper? How?
4) Are you subscribed to any newspaper and
why?
5) Do you have any idea about MINT?
6) What are your expectations of an ideal
business paper in terms of contents and news?
7) What are the other business paper activities
been carried out in your institution?
8) Who is your vendor and how is the
newspaper supplied ?9) Schemes offered by the vendors for other
newspapers?
10) What is your 2nd preference and why?