EXECUTIVE SUMMARY

My summer project with business standard ltd. was of problem solving kind in nature. Today the newspaper

industry is in the boom however with that it has become very competitive too. Today the whole industry

scenario has faced revolutionary change. Today not just routine daily newspapers but also the business

(Financial) newspapers also face the same level of competition.

It was not easy to do survey and research about the organization and business standard news paper, because the

news paper market already have the good competitor specially in business newspaper, but we have to do field

work and we have to understand consumer perception and customer criteria in selection of brand of business

newspaper, it gives you experience how to talk with people, how to handle situation and how to sell your

product in the market where already competitor has captured the market.

After meeting with target customer I analyzed the set of customer criteria and analyzed the set of perception.

In this project I have prepared a questionnaire to analyze the set of perception of customer.

INTRODUCTION

HISTORY OF PRINT MEDIA

History of print media and written communication follows the progress of civilization that, in turn, moves in

response to changing cultural technologies. The transfer of complex information, ideas and concepts from one

individual to another, or to a group, underwent extreme evolution since prehistoric times. It has been 30,000

years later since the first recorded evidence of written communication and it is still dramatically changing.

Now a days perhaps faster than ever before due to amazing advances in technology in recent years. Technical

breakthroughs alter the way we perceive the universe and manner in which we communicate with one another.

As long ago as 25,000-30,000 years B.C. first human painted descriptive pictures on cave walls. The narrative

compositions left on the walls of Lascaux represented their own way of communicating with the spiritual

world and another. The well-preserved drawing depicted their deep religious beliefs, fears, and everyday life.

The pictorial type found in caves of Southern France and Spain is the beginning of written communication for

the human kind.

In early 19th century the industrial revolution brought major innovations in printing technology. In 1810,

Friedrich Koenig applied steam power to printing press. Rotary steam presses replaced hand operated

machines, doing the same job in a small fraction of the time. Typesetting was transformed by the introduction

of line-casting machines; first Ottmar Mergenthaler’s Linotype (1889), and then the Monotype machine. Line

casting allowed type be chosen, used, and then re-circulated back into the machine automatically.

The age of industrial revolution made transfer and interchange of written information between cities as well as

continents readily available. In 1831 Joseph Henry invented the first electric telegraph, four years later in 1835

Samuel Morse formulated Morse code, and then in 1843 he also produced the first long distance electric

telegraph line. At the same time, Alexander Bain patented the first fax machine. In 1867 Thomas Edison

patented his mimeograph, which was the first office-copying machine, which might inspire Chester Carlson,

almost a century later; to invent the photocopier machine.

Business life was irreversibly changed with in the introduction to the market of Remington typewriter (1874).

Journalism also became more accessible when in 1914 Howard Krum introduced Teletype. Knowledge of

Morse code was no longer needed to distribute information.

Now a days , the print industry goes through a dry spell. Printing becomes increasingly more expansive. To

combat with this problem the industry increased use of digital printers that can efficiently produce high quality

paper books on demand. CAP Ventures predicted that within five years, 80% of all print will be ordered via

www. This created new model of publishing- so called e publishing (on demand). The printed book is currently

under attack by e-book. Present e-books are handheld devices in which books can be downloaded in a file form

and read on a backlit screen using buttons to maneuver through text. There have been also experiments with

on- line book distribution by Stephan King, David Saperstein, Mary Higgins and others authors.

The Indian entertainment and media industry is expected to grow at 18% compound annual growth rate

(CAGR) and reach a projected size of Rs. 1,00,000 Crore by 2011 from its present size of Rs 43,700 Crore(for

CY06), according to the 2007 edition of FICCI Price water house Coopers (PWC) annual report on the Indian

entertainment and media Industry.

The report states that the industry grew at 20% over the 2005 figure that was Rs 36,400 Crore. For 2004, the

figure was Rs 31,100 Crore.

The key reasons behind the growth are technological advances, positive government initiatives in terms of

policy and foreign investment, and energized initiatives by private media companies coupled with rising

income levels and India’s robust economic growth-led consumerism.

Information and broadcasting Minister P.R. Dasmunshi will release the report at the opening of the FICCI-

FRAMES event on March 26 in Mumbai.

The Internet advertising industry is set to post the highest CAGR of 43%, rising from its current size of Rs 160

Crores to Rs 950 crores in 2010.

The Television industry is projected to grow 22% CAGR from Rs 19,100 Crore to Rs 51,900 Crore by 2011.

The move towards CAS/DTH is considered the major driver for this growth with subscription revenues set to

take the segment to the projected heights. The buoyancy of the Indian economy will drive the homes, both in

rural and urban (second TV set homes) areas to buy televisions and subscribe for the pay services, the report

said.

The film and entertainment sector is expected to grow by 16% CAGR from Rs 8,500 crore to Rs 17,500 crore.

The major reason for this high growth rate is that the industry is increasingly getting more corporative,

highlighted by public issues of several film production, distribution and exhibition companies, long term

contracts between film production companies and directors actors and the fact that more than half of 2006’s

releases were by corporate rather than individual banners.

The print media is expected to grow by 13% CAGR from Rs 12,800 Crore to Rs 23,200 crore by 2011.Current

estimates reveal that print media’s reach in India has increased to 22 Crore people. Print media is also the

favorite segment for global investors with maximum foreign investment in this segment. The print media

industry has much potential as 36.9 Crore literate people in India are still not tapped by any publication.

NEWSPAPERS: A BRIEF HISTORY

The newspaper as we know it today is a product born of necessity, invention, the middle class, democracy, free

enterprise, and professional standards.

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 Guttenberg 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 newssheet in 1513. Germany's Avisa Relation Oder Zeitung, in 1609, is the

first regularly published newspaper in Europe. Forty-four years after 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 1700’s 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, and 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-on-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.

Asia’s role in the Newspaper industry

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 5.3 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."

Indian Newspaper Industry

The Indian Newspaper industry can be primarily segmented across two categories:- 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 0.4%. 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.

Business newspapers in India

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 Anand Bazaar group in 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 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.

India is one of the few countries in the world to have many business newspapers, which not only reflects the

vitality and vibrancy of the media, but also the new vitality of our economy. The large readership for these

business newspapers transcends from the rapidly growing corporate sector, it also illustrates the growing

interest that the general public now evinces in economic matters, which reflect the growing importance of

business and economy in our national discourse.

There was a huge growth in the sales of the business newspapers for the past few years. According to the

recent study by “Federation of Indian Chambers of Commerce and Industry” (FICCI), this growth would

outperform the general economy each year till 2012.

The Indian print media industry netted $90.80 million in foreign investment in the last three years , few papers

like Business standard have tied up with Financial Times of London. Business newspapers have the ability to

carry the message in greater detail and clarity, more in-depth information and analysis, which helps companies

and their business.

Business newspapers are re-inventing themselves to protect their turf in a fiercely competitive multi-media

environment. They are using different strategies to attract the customers of different sectors. Business

newspapers focused mainly on business news, insightful views on significant issues and comprehensive

coverage of the stock market.

They have managed to hold the attention and fidelity of more than 9, 00,000 readers (both individual and

corporate across the nation). All the business newspapers in India (Economic Times, Business Standard,

Financial Times, Business Line, Mint and Financial Chronicle) are working strategically to increase their sales.

The Summer Internship Program is also designed with a view to study about the market regarding the personal

sale of the Business Standard products and also looking for subscriptions and promoting the product and also

creating awareness about business newspapers among different sectors.

The aim is to create an in-depth awareness of the brand “Business Standard” among the various segments of

readers, in comparison to other business dailies like Economic Times, Business Line and Financial Times.

There is a huge scope of growth for Business newspapers in coming years as only 0.1% of the population is

reading business newspapers at present.

Newspapers reach only 35 per cent of our adult population even though the adult literacy is about 65 per cent.

To build this gap between readership and literacy and also to remain competitive the publications have kept

their prices low and depended entirely on advertisers to subsidize the reader and to increase the sales.

NEED OF BUSINESS NEWSPAPER

In this tough economical situation people are always busy to earn more and more money. Earning money is

actually not enough. Side by side it is also needed to invest your hard earned money to make huge profit. It is

not an easy job to invest money to a safe and proper place that can give desired financial security. You can find

yourself in a complicated situation while investing your money as the options are many. That is why you have

to be well known about the economic news of the world and the particular nation you are living. All kind of

latest financial news can help the people to decide the right steps they should take to utilize money. All the

investment options depend on the economical system of the entire world.

Various types of investment options are there for you to choose from. You can be well-known about the risk

factor, ups and downs, interest rate and many other terms and conditions about these options from the Finance

News that are published or telecasted for the people. Hundred of newspapers are there that published all types

of latest economic news. Many financial experts publish the right way of investment in these newspapers. On

the other hand various types of magazines are present that include every kind of Finance News. You can take

the right decision to invest your money by reading the article of these magazines that are related to world

economy.

You can find many news channels that are only concerned with the news, related to business and economics.

People can be updated instantly with every type of Economic news. Many professional and experienced

financial experts try to make the people aware about the present economical condition of the world. You can

achieve huge loss if you jump to any investment option without knowing the actual detail of it.

Share market is the controller of the economic system of the world. People consider share market as one of the

best options to get huge returns. It is true that risk is also very high here. It is always highly recommended to

know the each and every detail of share market news before going to invest your hard earned money in this

sector .The risk will be less if you purchase the share of profitable companies. The share market news includes

all the present situation of some companies, ups and downs of the market and share value of companies.

Categories

Most newspapers are aimed at a broad spectrum of readers, usually geographically defined, some focus on

groups of readers defined more by their interests than their location: for example, there are daily and weekly

business newspapers and sports newspapers. More specialists still are some weekly newspapers, usually free

and distributed within limited areas; these may serve communities as specific as certain immigrant populations,

or the local gay community.

Daily

A daily newspaper is issued every day, sometimes with the exception of Sundays and some national holidays.

Saturday and, where they exist, Sunday editions of daily newspapers tend to be larger, include more

specialized sections and advertising inserts, and cost more. Typically, the majority of these newspapers staff

works Monday to Friday, so the Sunday and Monday editions largely depend on content done in advance or

content that is syndicated. Most daily newspapers are published in the morning. Afternoon or evening papers

are aimed more at commuters and office workers.

Weekly

Weekly newspapers are common and tend to be smaller than daily papers. In some cases, there also are

newspapers that are published twice or three times a week. In the United States, such newspapers are generally

still classified as weeklies.

National

Most nations have at least one newspaper that circulates throughout the whole country: a national newspaper,

as contrasted with a local newspaper serving a city or region. In the United Kingdom, there are numerous

national newspapers, including The Independent, The Times, The Daily Telegraph, The Guardian, The

Observer, The Daily Mail, The Sun, The Daily Express and The Daily Mirror. In the United States and Canada,

there are few national newspapers. Almost every market has one or two newspapers that dominate the area.

Certain newspapers, notably The New York Times, The Wall Street Journal and USA Today in the US, and

The Globe and Mail and The National Post in Canada are available throughout the country. In India,

newspapers like the Times of India, The Hindu, and the Hindustan Times are extremely popular and have large

reader bases. Large metropolitan newspapers have also expanded distribution networks and with effort can be

found outside their normal area.

International

There is also a small group of newspapers, which may be characterized as international newspapers. Some,

such as The International Herald Tribune, have always had that focus, while others are repackaged national

newspapers or "international editions" of national-scale or large metropolitan newspapers. Often these

international editions are scaled down to remove articles that might not interest the wider range of readers.

As English became the international language of business and technology, many newspapers formerly

published only in non-English languages has also developed English-language editions. In places as varied as

Jerusalem and Mumbai, newspapers are printed to a local and international English-speaking public. The

advent of the Internet has also allowed the non-English newspapers to put out a scaled-down English version to

give their newspaper a global outreach.

Online

Virtually all printed newspapers have online editions, which depending on the country may be regulated by

journalism organizations such as the Press Complaints Commission in the UK. But as some publishers find

their print-based models increasingly unsustainable, Web-based "newspapers" have also started to appear, such

as the Southport Reporter in the UK and the Seattle Post-Intelligencer, which stopped publishing in print after

149 years in March 2009 and went online only.

Customized

A new trend in newspaper publishing is the introduction of individualization through on-demand printing

technologies. Customized newspapers allow the reader to create their individual newspaper through the

selection of individual pages from multiple publications. This "Best of" approach allows reviving the print-

based model and open up a new distribution channel to increase coverage beneath the usual boundaries of

distribution. My Yahoo has offered customized newspapers online. I-Google, CRAYON, ICurrent.com,

Kibboko.com, Twitter. times and many others.

THE BUSINESS STANDARD

Business standard is a serious, respected, top - notch, non-frivolous, business daily, which is founded on the

editorial principles of integrity, accuracy and trust. Growing rapidly and consistently, BS is circulated in more

than 1000 cities across the country reaffirming the widespread appeal of the paper. It is regarded as India’s

most credible and the second largest business daily. Business standard does a comprehensive coverage and

relevant analysis of economic and corporate happenings both at micro and macro levels thus helping corporate

decision makers.

Business Standard is the country's most respected business daily, being the first choice of serious business

readers. It is published in pink colour from 12 centers in India - Mumbai (formerly Bombay), New Delhi,

Kolkata (formerly Calcutta), Bangalore, Chennai (formerly Madras), Ahmedabad, Hyderabad, Chandigarh,

Lucknow, Kochi and Bhubaneswar and Pune. The newspaper believes in free, fair and independent journalism

and strives to inculcate these values in its editorial staff. The journalism practiced 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. T.N. Ninan,

perhaps India’s best-known business journalist, who had earlier undertaken a complete and highly successful

revamp, edits it.

Apart from a business newspaper, BSL publishes several periodicals, including BS Motoring, Indian

Management, Asian Management Review, a quarterly publication, and two regional language business

newspapers Business Standard in Hindi and Business Standard in Gujarati. The Hindi newspaper is published

simultaneously from seven centers Mumbai, Delhi, Chandigarh, Lucknow, Bhopal, Patna and Kolkata.

Mumbai, Ahmedabad and Rajkot .

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. The web properties of BSL,

including the online edition of Business Standard, include businessstandard.com, bsmotoring.com, bshindi.com

and bsgujarati.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).

Vision

To stand at respectful position in this marathon and also keep up with the pace of the changing needs of

their value readers.

To win more and more readers to their cause. In addition of being backed up by a strong product,

company needs to deliver it.

Mission

The mission is to expand the market share of BUSINESS STANDARD by creating a new market and

by taking bites from competitor’s market share.

Business Ethics

Business Standard is neutral and most credible financial newspaper.

Business Standard is a discipline of collecting, analyzing, verifying, and presenting information

regarding current events, trends, issues and people.

A look at History

Business Standard, a standard newspaper for business class. Print media has bought considerable changes in

the life of people around the globe. Even our freedom fighters considered it a powerful weapon. It still

continues to show its important presence in this changing world scenario. Business Standard Ltd. was

incorporated on 15th December, 1975 under the name of Desh Publication Pvt. Ltd. by the Ananda publishers

group.

This was changed to Business standard Limited O on 23rd November, 1995 the head office of the company is

located at Delhi. The company is managed, under the leadership and guidance of the board of directors.

It was then bought by Mumbai-based financial investors led by the Kotak Mahindra Bank, after which began a

phase of rapid expansion with the launch of new editions. The company has completed its 30 years in the year

2005 The Company believes in ethical conduct through professional management and has forward looking

outlook.

Business Standard has rolled out its new brand campaign across various markets and mediums. The new campaign finds expression in the tagline: ‘Know More No Less’ ‘Doosra’, a Mumbai-based creative outfit headed by Zaheer Mirza, has handled the creative duties.

The communication finds expression in television through a series of 10-second TVCs. The campaign will have a 360-degree approach with ads in print, outdoor and the Internet. Activation efforts on ground will also commence in due course.

Speaking on the occasion, S Arun Natesh, Head - Marketing, Business Standard Ltd, said, “An editorially strong paper, Business Standard is known to be steadfast in upholding the principles of free and fair journalism that does not give in to commercial considerations. And it has remained so for 35 years since its inception. Business Standard’s strength lies in its ability to provide more information without making any compromises

resulting in a loyal reader base.”

He added, “The new brand communication highlights the core of what the paper stands for – delivering to its readers all the necessary news and information processed in a succinct, straightforward manner – and finds expression in its new tagline: ‘Know More. No Less’.

To get the message across, a series of simple communication has been created. In a simple, stark and direct manner, the communication reinforces the fact that there is “No Speculation”, “No Sensationalism”, “No Misinformation”, just Business news, views and analysis that get straight to the point.

Business Standard, with its national footprint, covers all major markets in the country and is read by India’s business elite. It is regarded as one of the most credible business dailies. It seeks to provide incisive analysis and opinion that are tracked by readers from a wide spectrum.

EDITORIAL TEAM OF BUSINESS STANDARD AND COLUMNISTS

Business Standard boasts of some of the best economic journalists and counts contributions from

internationally acclaimed columnists.

The editorial team is lead by Dr. Sanjay Baru, former media advisor to the prime minister. Mr. T.N. Ninan

continues to be the chairman.

Mr. A.K. Bhattacharya , group managing editor is a former editor of The Pioneer and associate editor of

Economic Times.

Regular columnists include many reputed names such as:

Pranav Bardhan Professor of economics at university of

California

Surjit Bhalla Chairman, Oxus investments Economics ,

Politics & Cricket

Bimal Jalan EX-Governor RBI

Nitin Desai EX UN under secretary General

Gurucharan Das Author

Indira Rajaraman Member of Finance Commission

Ajit Ranade Aditya Birla group chief economist

Shankar Acharya Advisor to three successive finance

ministers.

Chartered out India’s reform strategy

Jadish Bhagwati Consultant on international Economics

for the UN & WTO

CONTENTS OF BUSINESS STANDARD

CONTENT EDITORIAL

PROPERTY

FREQUENCY

International

News

International Business Daily

Deepak Lal Prized asset

at UCLA.

Prized

columnist for

Business

Standard.

Shyam saran High profile

negotiator on

nuclear

deals. Indian

envoy on

climate

change.

Rama

Bijapurkar

One of the

India’s most

respected

thought

leaders on

market

strategy &

consumer

related

issues.

She

describes her

mission as

bringing

“market

focus to

business

strategy”

Suman Bery Director

General ,

National

council of

applied

research.

Dani Rodrik Chairman of

advisory

committee of

the Centre

for global

development.

Professor of

international

political

economy at

Harvard

university.

Martin

Feldstein

President

emeritus of

the national

Economic

research.

Former

Arvind

Subramanian

Former

assistant

research

director in

IMF.

Lifestyle &

Gizmos

Technology Tuesday – Friday

Company laws,

tax, laws, etc.

Business Law Every Monday

Marketing,

customer

activation,

Advertising

The Strategist Every Monday

Management

Education &

Training Avenues

Business Education Every Thursday

SME Business SME World Every Tuesday

Automobile &

Ancillary segment

BS Motoring Every Saturday

Brand Strategies Brand World Mon, Wed & Friday

Trading calls,

stock & Sector

Analysis

Smart Investor Tuesday – Friday

Fresh look at

news & people

Take Two Tuesday – Friday

News on the

digital world

Digital consumer Every Monday

BS is published Monday to Saturday in all locations.

On Sundays, the paper is published from Mumbai, Delhi, and Kolkata & Bangalore.

Extensive coverage of the markets has been BS’s forte and is eagerly consumed by investors – big and

small. To cater to needs of the retail investor, special focus has been provided in the form of extensive

coverage on personal finance.

The smart investor

The smart investor an entire section packed with extensive market news, views and analysis,

with a new emphasis on personal finance.

The BS 200, a detailed look at the day’s market activity and today’s picks trading tips on select

stocks.

The smart investor – the most comprehensive investment advice in the market.

Weekly supplements

The strategist

A sought after weekly supplement , the strategist appears every Monday.

Covers issues on management & marketing. Analyses critical issues through case studies.

Rich in content, the strategist relies heavily on highly researched articles. So that readers gets a

complete understanding of the subject.

Weekend

“BS WEEKEND” covers the topics of lifestyle, art, and travel. Portraits of wealthy people, real state,

golf, book reviews among others.

A perfect way to start your weekend knowing the leisure’s of life only with Business Standard

The fund manager – covers the high points and performances of mutual funds. An annual guide

to smartly invest in mutual funds. Includes profiles of top fund managers.

Banking annual – performances of the banking sector. Annual ranking of banks, exploring the

mantras adopted by top rated bank to succeed.

BS 1000 – a guide to India’s top 1000 companies. An annual reference book on corporate

performance. Analysis and rates top 1000 listed companies.``

Life style product of Business Standard

The tabloid theme is devoted to luxury and lifestyle as a general principle; luxuriant lifestyles, premium

real state and holidays, luxury cruises and watches, fashion, cars, hotels and spas, jewelry, golf,

accessories, imported furniture, exotic cuisines, quality spirits, office equipment, home entertainment

systems.

The magazine targets the super rich & affluent who make a style statement with the luxury buys is

circulated quarterly with Business Standard in Mumbai, Delhi & Bengaluru.

Magazines

Indian Management

India’s most contemporary and authoritative monthly magazine on management.

Experts contribute regularly on the basis of latest happenings in the world of management.

Well-researched articles provide the needed depth to get a grasp on the sector.

BS for has published a journal by AIMA, Indian management close to 10 years and giving it its current

look.

The success led to the Asian Management Review to be published by BS on behalf of Asian

Management Association.

BS Motoring

BSM – among the India’s most regarded motoring magazines

Led by a team, which is passionate about automobiles – which reflect in the loyal readership that it

commands.

Circulation in excess of 2500 copies from news stands.

Among many first, the BS Motoring awards is the oldest and most respected.

New entry of Business Standard

Change is the only constant and true to that sentiment there have a few changes over the recent past.

We have introduced “Take Two” – a section with in the paper, which takes a closer look at news and

people.

International pages have been beefed up to keep up with happenings around the globe.

New york, London, Brussels, Singapore – BS is the only newspaper with exclusive correspondents in

the world’s business capitals.

Business Standard – Typical reader professions & benefits

BS readership

Business Standard is India’s second largest and fastest growing newspaper having growth rate of 300% in past

four years. It has a readership over a quarter million. Its readership profile encompasses the brightest and the

best from India’s business and finance communities, Readers come from varied occupations in the field of

business, finance, government, policy makers and academics, stock brokers, decision makers, researchers and

students and observers of the Indian Economy.

Marketing professionals:

- Know how the economy is moving and its impact on his or her business.

- What’s happening in their own business, competition

- What new brands, advertising campaigns have been launched

Finance professionals:

- Economy swings and their analysis

- Helps in fund management, investments, mergers and acquisition

- Corporate laws, tax structures, changes and its impact on the industry

Consulting professionals:

- Excellent and reliable source of various data, that can form the base of their analysis and reports of

their clients

- Helps understand public opinion

Stock market professionals:

- An incomparable tool in form of BS 200 and BS 1000 – an annual magazine

- Sector wise analysis and company wise analysis helps in deciding stocks for investment

Legal professionals:

- corporate law and its analysis with impact

HR professionals:

-identify success story and people to identify leaders

- law related to the corporate

- taxation analysis and its impact on the employees

Students:

- helps to gain insight of the corporate world

- an excellent aid for making course related projects

- an unmatched source for various types of data and analysis

General:

- A life style associated with professional

- How to enjoy success

- Gadgets, one should be seen around that highlights individuals status.

Distribution and Format

Business Standard sells 153000 copies daily in English, mostly to the business and policy-making élite. The

Hindi edition sells 44000 copies daily.

ACNielsen's survey of the upper middle and rich market in India places Business Standard next to The

Economic Times in total readership.

The paper has a reputation for reliable reporting and responsible journalism, as well as for its stimulating page

of analysis and editorial comment. It has pioneered the ranking of the wealthiest Indians (the Billionaire Club)

and provides an automobile magazine as a free monthly supplement.

In 2006, BSL began to produce a Sunday edition that is now published in four centers.

The Hindi edition was launched in February 2008 from seven centers stretching from Mumbai in the west,

running across the Hindi Belt, and to Kolkata in the east.

BSL also publishes various periodicals, including BS Motoring, Indian Management and the Asian

Management Review.

Electronic

The newspaper's website, business-standard.com, allows visitors to access the Business Standard e-paper, with

a choice of editions. The Business Standard website receives 1.5 million unique users per month, the highest

for any "stand alone" newspaper website in India. In January 2010, it launched smartinvestor.in, an

information-cum-trading website for those interested in the stock market.

Way of BS (how it reaches to the reader)

Department

Raw MaterialRaw Material

Printing Press

Printing Press

Not anyNot any Not anyNot anyNot anyNot anyNoida Noida Not anyNot any

VendorsVendors

Agent in

Each city

Agent in

Each city

BookstallBookstall

HawkerHawker

CustomerCustomer

The main departments of the Business Standard are Market Development Department an also known as

Circulation Department, Scheduling Department, Space Marketing Department, Editorial Department, System

Department, Production Department an Dispatch Department.

Functional Areas of the company

A brief department detail to give an idea of where the things are placed in Business Standard is as follows:

MARKET DEVELOPMENT DEPARTMENT / CIRCULATION DEPARTMENT

Editorial

Scheduling

Market

Development

Dispatch

Production

Departments

System

SPACE MKTG

This department is responsible for the circulation of the newspaper in the whole region. This department also

looks after the daily back room operations which include giving print orders for the regular supply of

subscription, complementary copies and sponsored copies are also being distributed by this department. They

also check the dispatch and payment received for the month. To expand the market of the newspaper by adding

more customers to its list. They are the people who not only think about selling the newspaper but also how to

promote it.

SPACE MARKETING DEPARTMENT

it is the oxygen of the publication as this is the only revenue generating , all the expenses are covered from this

department only. The actual cost of the newspaper is Rs .15/- but the company charges Rs.3.5/- on weekdays

and Rs. 7/- on weekend because the revenue generated from this department. The department collects and

markets the advertisement from the corporate clients, which indirectly add value to business standard. The

pages predefined for various types of advertisement .The commission of these agencies is 15%

Live edition: It means that the edition printed in the city from where it is published.

New edition: It means that edition is not printed in the same city.

Types of advertisement

Display: these ads are also called supportive ads as they provide support to the financial ads. It consists

of launching of new products and services, which are displayed in the ads they are basically, cooperate

ads. It consists of B2B, B2C and classified.

Tender: it is the offer made by the government private and public sector companies

Feature: this is generally a special edition printed especially for the clients as a supplement to the

newspaper. Generally “sponsored section” is written on the top right corner of the page as the material

is given by the client. It is a specialized and well-focused category. Sometimes advertorial section

which mean that along with the advertisement an editorial article such article are also paid article

Compulsion advertisements: This advertisement is compulsory to give for the corporate by the

government. They have to give these ads without any options.

Financial advertisement: The financial ads of the company like balance sheet, financial declared

result, audited and unaudited data etc. has to be published in the newspaper. They provide more than

50% of the revenue of the business standard and also published different kind of IPO’s.

EDITORIAL DEPARTMENT

Editorial is considered as the backbone of the print media because without any good matter to publish and

which is not edited nicely it is just a crap for the readers. Readers want to have the columns with good matter,

so without having an effective and efficient editorial team no newspaper can grow.

This department collects the news mainly from the News Agencies and they have their own network to publish

the articles too. The news can be by telephone, fax or through Internet or other communication medium. This

news is edited and then sends to the Mumbai and Delhi for the adjustment. The group Managing Director of

the Business Standard is MR. A. K. Bhattacharya.

SCHEDULING DEPARTMENT

This department is responsible for the layout of the newspaper. The main function of the department is

scheduling of the page i.e. to adjust the advertisement and the editorials. The newspaper tries to limit the

advertisement to the minimum of 40% and rest of 60% is the edit part. The department books the ads and then

intimates to the concerned location as soon as the booking is done so that the same space is not booked for the

two ads. Once the ad position is made it goes to Delhi, Bombay, and Bangalore. These each centre receive

tentative ad dummy from Delhi.

Before printing any news or advertisement the department takes a printout of the layout of the actual paper on

A-4 size paper, which is called tentative ad dummy. Once the dummy is ready no edit matter can be filled in

that. The page is then forwarded to production department. In case the advertisement gets cancelled then the

filler ads are printed for which the permission is taken by the head. In such cases, the organization utilizes the

space but the revenue are lost. Space marketing department tries to minimize this loss by getting some other

advertisements.

The software used by the department for this purpose is Quark Express and Flight Check. The data is taken as

PDF file and ESP format. If any format goes out of this range, the software shows the error. While formatting

they have to leave a space of 0.5 above and below in the newspaper, which is called data line and print, line

respectively.

SYSTEM DEPARTMENT

System department is responsible for the communication network as well as all the technical related problems

in the company. All the branches of Business Standard are linked with V_SAT and with the dedicated leased

line along with the Head Office.

The most important work of the system department is to connect all the telephone line with EPBX system and

connect all the branches to the head office with Hot Lines, which helps to reduce STD cost of the company.

The system department at Ahmedabad receives a facsimile copy of newspaper everyday and forwards its

printout on the butter paper to the production department.

PRODUCTION DEPARTMENT

The butter copy received from the system department is framed on the aluminum plate. This plate is then fixed

to the printing machine and as per the orders the printing starts. The machine used for printing is known Film

Processor, which is costing 2.5 Lakh. The machine is divided into four different units which are: -

1. Developer Unit

2. Fixed Unit

3. Wash Unit

4. Dryer Unit

The department usually uses four colors for the hard copy, which are Black, Yellow, Cyan and Magenta. Some

colors are used at the time of printing of the newspaper in the press. The raw material for this department is

aluminum plate and paper. The print comes in the form of a reel, which cost Rs. 10000 per reel.

DISPATCH DEPARTMENT

This department is responsible for the regular dispatch of the right number of copies at the right time to the

right people. The department has to generate rush mail and put it on the parcel. Rush mail shows the number of

copies in the parcel and its destination address. Along with the rush mail, route control statement is also three

for Taxi drivers, which shows the number of parcels for each and every destination that comes under his route.

The company is in annual contract with the taxi drivers for the purpose of delivery at the up country.

RUSH MAIL:

It is a label, which is stuck on the newspaper packets for identification of the destination of the packets.

It performs the same function as the address does on a letter.

ROUTE CONTROL

It is the summary of the dispatch control statement and it represents the total dispatch scenario. It

provides route wise totals with the name of the routes and its further bifurcation into indent, (paid

copies), complementary, and Ad hoc and total copies on that route. There is grand total with a

bifurcation on the same basis as mentioned. The route control statement total is in effect the print order

for the next day.

DISPATCH AT NIGHT

As per the requirement stated on the print order, the instructions are given to the press and required

copies are printed. The upcountry edition is printed first as the set of labels arranged according to the

order of dispatch. Based on the timing of each of the challenge dispatch supervisor prepared a report,

which is called the night report. This report mentions the e timing against each route. The report also

mentions along with the reason in the case of delay, any printing breaks ,any short or extra copies and

how the same have accounted for, shortages in supplements etc.

UNSOLD COPIES

Unsold copies are the copies, which are supplied to the agents but not sold and returned by the

agent. The different publication follows different guidelines on unsold copies. Even the acceptance and

passing of credit differs form company to company.

There are also two other departments without the company cannot be run. Those Departments without

which any firm is incomplete.

FINANCIAL DEPARTMENT

This department is responsible for all the financial matters. Matters are related to salary, operational expenses

and other expenses. It is also responsible for the cutting the cost of the publication.

HUMAN RESOURCE DEPARTMENT

This is the department responsible for the HR supply in the company. For Business Standard this department is

in Mumbai and New Delhi. It means that the Business Standard has a centrally located HR department who

takes care of the supply in any of the branch.

All these departments identify the need of the customers i.e. the quality and pricing demanded by the

customers. In this industry the strategy is very important as the selling price of the newspaper is always less

than its cost of production. The main reason for this type of pricing is to create awareness and generate reading

behavior amongst the audience of the newspaper.

Hence all these departments are interlinked and proper cooperation and coordination is a must in the newspaper

industry. This helped me in getting a better understanding of teamwork, and the importance of every second,

because newspapers are published daily and a delay of single second or a minute mistake can lead to a blunder.

OBJECTIVES OF THE STUDY

1. To find out the attributes which are considered by the customers while purchasing

a business newspaper.

2. To study the perception of consumer regarding the business daily.

3. To increase the sales of Business Standard newspaper.

4. To study the reasons why customer wants to read business daily.

Sales of Business Standard

During the 8 weeks of my project along with the market survey I was asked by the organization to do sales.

They have given me a target of 20 subscriptions per month. My task was to conduct sales of pre paid

subscription of Business Standard through a subsidized price scheme offered by the company. As per the

scheme the pre paid customer is offered following prices for different periods.

FOR – Business Standard English

FOR - Business Standard Hindi

DURATION COVER PRICE SUBS. PRICE YOU SAVE DISCOUNT(%)

1 YEAR Rs. 1106/- Rs. 710/- Rs. 431/- 38.00%

2 Year Rs. 546/- Rs. 1365/- Rs. 171 31%

BUSINESS STANDARD – Rates based on Rs. 3.00/- for Hindi.

They are

providing discounts above mentioned and free magazines on one year subscription one motoring magazine

every month (12 in a year) and 3 yearly books, one yearly book on banking annual, one yearly book on

fund manager and one yearly book on BS 1000 (Indian’s best 1000 companies listing) to increase the

sale of the newspaper.

Customer criteria in selection of business newspaper’s brand

There are the certain criteria which I have analyzed during my study and meeting with

customer.

Brand value

Brand awareness

Pricing

Content of the newspaper

Analysis of news

Supplements

Content of weekend

Language is another important thing

DURATION COVER PRICE SUBS. PRICE YOU SAVE DISCOUNT(%)

1 Year Rs. /- Rs. 625/- Rs. /- %

PORTER’S FIVE-FORCE MODEL ANALYSIS

Porter’s 5 forces analysis is a framework for the industry analysis and business development by Michael E

Porter OF Harvard business school in 1979. It uses the concepts developed in industrial organization (IO)

economics to derive 5 forces that determine the competitive intensity and therefore attractiveness of

market.

1. The threat of substitute products:

Business news channels

Business Magazines

Internet sites on business news

What can be the factor of substitute product?

Buyer’s propensity to substitute.

Relative price performance of substitutes

Perceived level of product differentiation.

2. The threat of the entry of new competitors

Profitable markets that yield high returns will draw firms. The results are many new entrants, which

will effectively decrease profitability. Unless incumbents can block the entry of new firms, the profit

rate will fall towards a competitive level (perfect competition).

Economies of product differences

Brand equity

Capital requirements

Access to distribution

Learning curve advantages

Expected retaliation by incumbents

Government policies

3. The intensity of competitive rivalry

Total no. of competitors of Business standard are :

The Economic Time

Business Line

Financial Express

Mint

4. The Buyers negotiating power

Buyers can negotiate on price and offers given by the companies, because companies are providing

discount on the prepaid subscription for different time period.

Buyers or customers can exert influence and control over a company in certain circumstances. This

happens when:

There is little differentiation over the product and substitutes can be found easily.

Customers are sensitive to price.

Switching to another product is not costly.

5. The Suppliers negotiating power

Suppliers can negotiate on the commission provided by the companies for supplying the

newspaper and different schemes provided by the companies.

Competitor analysis

Competitor is something, which any company cannot avoid. Staying in a democratic country and ruling

as monopoly is not possible. What the only way is to face a deal with competition. Competition can be

severe and can be mild. The intensity will depend on your own firm’s position and your competitor’s

position.

The following are the competitors of Business Standard.

The Economic Times

The Financial express

Business Line

SR

NO.

PARAMETER BUSINESS

STANDARD

THE

ECONOMIC

TIMES

BUSINESS

LINE

FINANCIAL

EXPRESS

1 PRICE Weekdays –

3.5 Rs.

Weekend –

7 Rs.

Weekdays –

3 & 3.50 Rs

Weekend –

10 Rs.

Weekdays

– 4Rs

Weekend –

4 Rs.

Mon to Fri –

4 Rs.

Sat – 6rs

Sunday –

8 Rs

2 COLLABORATION Kotak

Mahindra

Benett &

Collman

The Hindu Indian

express

3 STOCK MARKET

ANALYSIS

BS 200, 6

full page of

share details

Less pages

Less

information Less

4 NEWS Only

business

Business +

general

Business +

general

Business

5 PUBLICATION

HOUSE Own

Benett,

Collman &

Co. ltd

The Hindu Indian

express

6 PAGES (AVG) 22-26 12-22 18-22 14-20

7 COLOR OF PAGES Pink Pink White Pink

8 UPDATES No Week update

on Sunday

No No

9 LANGUAGE Easy Not easy Hard Moderate

10 NO. OF

LOCATION OF

PUBLICATION

12 cities 11 cities 14 cities 11 cities

11 POSITION IN THE

MARKET

2nd 1st 4th 3rd

12 Publishing language English English, English English

Hindi,

Guajarati

So from above table what analysis can be possible?

Business standard is very less priced financial paper, which provide with best schemes.

Business standard is only newspaper, which provides 8 pages of stock market related news.

It is unique selling point (USP) for business standard that it provide BS 200 page with full

analysis 22 key parameters.

It is published in two languages in English and Hindi.

It is the first financial daily, which started the Hindi edition.

Though with very positive point with business standard, it has some problem or can say

drawback, like service.

It is the only point that Economic Time is market leader, and that is, its parent company of

“Times Group”.

Though the Hindu has very good content, it’s not selling in the Gujarat so much, it deliver to

client’s address at 12:00 noon around.

So that we can say that if business standard does something for brand awareness than it has

good potential market to cover.

The financial express is not providing very good scheme and also very less reader in the market.

SWOT analysis of Business Standard

Strength Weakness Opportunity Threat

Systematic

approach covering

all sectors

Less innovation Sunday edition

only publish from

four centers, can

publish from 17

centers

Continuous

monotonous

approach

Nominal price for

subscription

Monotonous

approach of

headlines

Can introduce a

new segment on

Sunday

Fear from new

entrants

Separate money

and market section

with 8 pages

Lack of printing

press

Potential market

availability

Toughest

competition from

the Economic

Times

Strong Edit Display of Ads

sometimes creates

a fuss

Can enters in to

general newspaper

segment

Weak distribution

channel

Provide general

awareness in terms

of investment

RESEARCH METHODOLOGY

In the summer internship programme, I have to do research on the criteria used by customer in selection of

brand of newspaper. Basically I have to know the consumer perception towards business daily, and along with

have to do sales. So, I have made the questionnaire according to that and know their views regarding business

daily. In this survey the main goal is to market development. Market development means how to penetrate the

market and how to come to know about views of reader who read financial daily.

Research Design

Considering the objectives of the study, sample survey was conducted and accordingly analysis of information

was made. The questions are on the basis of Likert scale.

Type of Data

Primary data had been used in present study.

Data Collection Method

Survey is used as data collection method.

Design of questions

There are three questions is in general form and other 15 questions are on the basis of five point Likert scale.

Target population

Target population of this project is- financial newspaper reader.

Sampling Units

Sampling units of this project are -Financial newspaper readers of New Delhi and NCR. and customers like,

sharebrokers , investors, bankers and business school students.

Sample size

Sample size refers to the total number of respondents targeted for collecting the data for the researcher. The

sampling size of my study is 100 respondents and this sample size was selected on the basis of time constraint

and employees availability.

Sampling Technique ????????

Sampling Area

North Delhi

Data Collection Tool

In this project, structured questionnaire is used as data collection tool.

QUESTIONNAIRE

All information provided will be treated confidentially and used solely for academic research purposes.

1. Please mark your Age

a) Below 20 years

b) 21-30 years

c) 31-40 years

d) Other (please specify)

2. Please mark your Occupation

a) Businessman

b) Employee

c) Student

d) Other (please specify)

3. Do you like to read business newspaper?

Yes b) NO

4. Which business newspaper do you like to read?

a) Business standard

b) Economic times

c) Financial express

d) Business line

5. How frequently do you read a business newspaper?

a) Daily b) 3 times week c) 2 times a week d) Once a week e) Monthly f) Other (Please specify) 6. How much time do you spend reading a newspaper?

a) 0-30 minutes

b) 30-60 minutes

c) 60-90 minutes

d) More than 90 minutes

7) How do you get your business newspaper?

a) Delivered at home

b) Delivered at office

c) Bought at news stand

d) E-paper

e) Other (please specify)

8) For what purpose you read any business newspaper?

a) Business information

b) Multi information

c) To watch the market

d) to plan investment strategy

9) (Please rate the following on 1 to 5 where SA = Strongly Agree,

A= Agree,

N = Neutral,

DA = Disagree and

SDA = Strongly Disagree)

Factors Please tick (√ ) the appropriate box

SA A D SDA DA

1 Reading business daily is more interesting than reading regular newspaper

2 Business dailies should include a supplement on general news

3 Business dailies help you make your investment more strategically and smartly

4 Business dailies help you track the growth of the economy

5 Business newspapers are more helpful for the domestic trading people

6 You would like to see sports news in financial dailies

7 Association with international financial news papers increases the interest of reading business dailies

8 Reading Business News effects your daily purchase transactions

9 Advertisement published in Business News paper is more attractive than regular daily News papers

10 Business daily gives you exact data and figures

11 Business Daily helps in tracking the market well

12 Business daily helps in planning investment strategy

13 Business daily are generally neutral in views

14 Business Daily helps you

10) Which are the important sections of a business newspaper that you read?

(Please give marks out of 10 to these sections which appear in your business newspaper)

Section Marks (Out of 10 marks)

Section Marks (Out of 10 marks)

Stock Market news

Regulatory policies/ Law

Editorials SME

National News Regional/City news

International news

Commodities

Banking related news

Personal Finance

Politics Other (please specify)

Economics