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Index
Sr. No. Particulars Page No.1. General Information 052. Production Department 193. Personnel Department 354. Marketing Department 525. Finance Department 746. SWOT Analysis 847. Suggestions 898. Future Plans 919. Conclusions 9310. Bibliography 95
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GENERAL
INFORMATION
3
Contents
Sr. No. Particulars Page No.1. Highlights 072. Company Profile 093. Size & Form of Organization 124. Time Keeping System 135. Location Justification 156. Objectives 18
Highlights
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Name of the Unit :
The Times of India
Address of the Unit :
The Times of India
Star complex,
Opp. Alfred High School,
Rajkot-360001
Registered Office :
The Times of India
RMD, Sakar-1,
Opp. Gandhigram Railway Station,
Ahemdabad
Address of Production Unit :
The Times of India
Bijalpur
Ahmedabad.
Established Year :
1838
Form of Organization :
Proprietary Concern
Size of Organization :
Large Scale Industry
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Promoter :
Bannet & Coleman
Bank :
HDFC Bank Ltd.
Company Profile
6
A Brief History
The first edition of The Bombay Times and Journal of Commerce, later
to be called The Times of India, was launched in Bombay in 1838. After
several years of changes, evolution and growth in the paper’s character,
Bennet, Coleman & Co. Ltd., the proprietors of The Times of India Group,
was established with the principle objective of publishing newspapers,
journals, magazines and books.
Today, Bennet, Coleman & Co. Ltd. is India’s largest media house.
The times group is a multi-edition, multi-product, multi-media organization
and has to its credit several leading publications. Among the publications are
The Times of India, The Economic Times, Navbharat Times, Maharashtra
Times, Femina and Filmfare. The group also has interested in the
entertainment and media industry in the form of Radio Mirchi, Planet M,
Times Music, Times Multimedia and Times Zoom Channel.
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Story of The Times
1838 The Bombay Times and Journal of Commerce is launched with J.E.
Brennan as editor, published on Wednesday and Saturday only.
1839 Brennan died, George Buist was new editor.
1850 Converted into daily
1852 Absorbs The Bombay Stanard I Bombay Telegraph & courier
1857 Buist ousted after proposing harsh and bloody reprisals against Indians
following the revolt of 1857
1860 Bombay Times agrees to sell Reuters in India
1861 Name changed to The Times of India under editor Robert Knight who
gave it a national character.
1890 Editor Henry Curwen bought Times of India in partnership with
Charles Kane. Curwen wills shares to Thomas Jewell Bennett
1892 Curwen died, Bennett became the editor. He entered into a partnership
with F.M. Coleman to form joint stock company Bennett, Coleman &
Co.
1907 Times of India’s first price war under editor Stanley Reed price cut
from 4 annas to 1 anna; circulation rises five times.
1946 Ramakrishna Dalmia bought out Bennett, Coleman & Co. for Rs. 2
crore.
1950 Son-in-law Shanti Prasad Jain gets BCCL as dowry from Dalinia;
Delhi edition launched, K. Gopalswami first Indian editor.
1952 Filmfare Launched
1959 Femina Launched
1961 The Economic Times Launched
1972 Illustrated Weekly launched
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1984 Samir and Vinnet join BCCL
1986 Editor Girilal Jain Resigned, Arun Shourie assumed charge
1991 BBC leatures Times of India among world’s six great newspaper.
1993 BCCL starts producing Television software
1996 Times of India crosses 1 million mark in circulaiton
1998 BCCL enters music software with Time Music
1999 Ashil Jain dies, Indiatimes.com launched; BCCL wins bids for 12 FM
channels; Times FM to be re-launched in 2000, BCCL enters music
retailing business with Planet M
2000 Times of India crosses 2 million in circulation
2003-04Times of India entered in Television field with Times Channel Zoom
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Size & Form of Organization
In every country, Government adopts different policies in measuring
the size of the unit. The Indian Government has adopted the basis of
investment to measure the size of a business.
The unit can divided into three categories:
Small Scale Industry
Medium Scale Industry
Large Scale Industry
The unit having investment up to 3 crore is known as Small Scale unit.
The unit having investment between 3 crore and 5 crore is known as Medium
Scale Unit. So the Times of India comes under Large Scale category. The
business can be mainly classified as under:
Sole Proprietorship
Partnership Firm
Joint Stock Company
Private Limited Company
As per the form of the organization Times of India comes under.
Proprietorship Private Limited Company.
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Time Keeping System
Each and every unit must have its own Time keeping system. Since
time keeping system is must for every company to measure the regulations of
its employees. In Time keeping system the arrival and leaving of employees
are recorded.
In Times of India there is a reception counter where a separate register
kept where all the entries are kept of the entrance of all the employees. There
is a separate timing maintained for office and labors.
The plant works 24 hours, So for labors two ships are there morning
and night.
The morning labor working hours are
9: 00 a.m. to 8: 00 p.m.
I have break is given from 1: 00 to 2: 00 in the afternoon.
The night labor working hours are
8:00 p.m. to 4:00 a.m. with 1 hour break in 1: 00 to 2: 00
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For office employees, the working hours are
11: 00 a.m. to 7: 00 p.m.
For Editorial Department, the working hours are
Its starts, from evening 4:00 to night 2:00
For production employee, the working hours are starts, from evening 8:
00 onwards.
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Location Justification
Any industry which is established at a particular place where it funds
less cost of production than the other places is known as industrial location.
Location means a place where raw material, labor power,
transportation, capital etc. are easily available.
The unit is located near Ahmedabad. Industry is an activity which
converts raw material and semi finished goods into finished goods for sale.
The success of business depends on the process of organization and
planning.
Any entrepreneur has to consider this entire factor requires careful
analysis because the location is once chosen can’t be changed often.
Frequently changes in location leads to losses.
Why this company is located at Sarkhej-Gandhinagar Highway?
There are some particular reasons which are given below
NATURAL FACTORS:-
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WATER:
Water is a very important factor of any types of industry.
POWER:
Power is a important factor for any types of industry. As THE TIMES
OF INDIA having fully automatic process so power is very important for
them, Their machines are very large and running with the help of power. So
they want power at low cost.
RAW MATERIAL:
For most of the industry cost of raw material is the main cost. If raw
materials are available from the nearest area them the cost of production will
be less and this ultimately affects profit.
ECONOMICAL FACTROS:-
Cheap and skill supply of labor is necessary for every industry. The
company is free to take labor area but the labors are available in nearly area, it
is direct affects to the profit of the company. This plant is fully automatic so
they have required workers. There are many workers working in the industry.
TRANSPORTATION
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The industry must be located at a place where cost of transportation
becomes less. Transportation facility is easily available for TIMES OF INDIA.
The location about TIMES OF INDIA is good about transportation.
AVAILABILITY OF MARKET
Availability of market is the most important factor which is always
considered by an industrialist. Market is a place where consumers and sellers
are purchase or sell the goods. TIMES OF INDIA newspaper is easily
available in Ahmedabad.
INTERSTRUCTURE
The plant is located at Sarkhej Gandhinagr Highway area so all the
required industrial facilities are provided to the plan.
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Objective
The main objectives of the TIMES OF INDIA are:
To earn profit for shareholder.
To expand the Business.
To create wealth.
To create viewer ship and leadership.
How it is different from others:
Has social responsibility
National interest
Welfare of the society
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PRODUCTION
DEPARTMENT
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Index
Sr. No. Particulars Page No.1. Introduction 212. Organization Chart 223. Production Planning 234. Production Process 255. Availability of Raw Material 286. Inventory Management 297. Information About Machines 308. Installed Production Capacity 319. Plant Working Hours 3210. Quality Control 3311. Waste Management 34
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Introduction
Production is the basic activity of all industrial units. All over activities
revolve around this activity. The end product of the production activity is the
creation of the goods and service for the satisfaction of human wants. The
production activity is nothing but the step by step conversion of one form of
material into another either chemically or mechanically. In a chain of
manufacturing activities, the finished product of the processor sometimes
becomes the raw material for the other manufacturing firms falling in the next
sequence.
MEANING:
The meaning of the term “Production” and production management”
should be noted carefully.
According to E.S. Butta
Production is a process by which goods services are created”.
According to H.A. Harding
“Production Management is concerned with those processes which
convert the inputs into outputs. The inputs are various resources like raw
material, men, machine, method etc. and the outputs are goods and services.
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Organization Chart
General Manager
Manager
Assistant manager
Supervisor/ Incharge (Machine)
Machine Operator
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Production Planning
Production planning is an essential prerequisite to production control. It
involves management decisions on the resources that the firm will require for
its manufacturing operations and the selection of these resources to produce
the desired goods at the appropriate time and at the least possible cost.
According to Alford and Beatty, production is defined as “The
technique of forecasting to picturing ahead, every step in a long series of
separate operations each step to be taken in the right place of the right degree
and at the right time and each operation to be done at maximum efficiency.
It includes raw materials without raw material without that production
can not be done and after the process as storage has to be done.
Raw Materials:
Raw Materials required for the production of news papers are News
print, Butter Paper, Computers, Printers, Ink, Litho plates etc. these are some
basic requirement of production. To maintain steady flow of raw materials,
warehousing, preservation, costs control etc. for managing all these functions
various departments are created so that work becomes easy and everyone could
perform it accurately with fully concentration.
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Storage:
Storage of Raw Material is to be done by production department. They
have to maintain all stocks and have to plan in advance regarding it so that
steady flow of raw materials can be maintained. After News papers printed
daily at early morning vendor sand agents of agencies come to take their lots
so storage regarding printed news papers is not done as papers are printed they
are packed and vendors and agents take their delivery.
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Production Process
The production process of a News paper industry can be generally
decided into three:
Editorial
Prepress
Press
Editorial:
Information is gathered by the reports which are appointed by Times of
India both regarding happening and non-happening stories. All this
information reached what is called the desk through an extensive online system
developed in house by Times of India. The news and information is edited here
and decisions are taken as to where the page layout is arrived at and the stories
are then placed on the specific pages. This process is called page making or
page preparation. This prepared page then transmitted to the prepress
department for further processing.
Prepress:
Transfer of all images into a film substrate is done in a prepress. The
prepared pages which are transmitted to the prepress department are of a butter
paper of A3 size. In a prepress pasting of those papers are done to make a full
page. After pasting, the full page or film is fixed on litho plates which are
made of aluminum. For exposure of this film on litho plates which are heated
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by the heater so that letters on a butter paper are exposed on litho plates. Plates
processing involves department of the image on the plate. Automatic alarm
rings when this process ends and litho plate are washed with the chemicals and
then it passes to press department for printing.
Press:
Press involves physical transfer of image from the plate to newsprint
using Web offset machine. After litho plates come from prepress department
special gum is pasted on litho plates so that due to atmosphere it does not
damages. Then these plates are folded on both sides (2”) and then they placed
on plate cylinder in machinery. After that machinery starts and letter on plates
are embossed on blengage and the letters which are embossed blengage are
printed on newsprint. Plates on machinery are fixed number wise and if front
page is colored then it prints out from color unit in which combination of 4
colors makes 1 picture. First newspaper prepress from Black colored unit then
to Blue after that Magenta and lastly through Yellow. From one side black and
white papers are printed and from other unit color papers are printed. In
between where they both meet there folding machine is attached so that full
paper automatic as number wise folds and comes out. Digital counting display
is also attached with folding machine due to it paper counting is done
automatically and when 100 papers are printed and comes out one strip falls
down which indicates a lot of 100 papers has printed.
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Availability of Raw Material
The Times of India purchase Raw Materials for Newspaper are as
under:
Glaze Paper for Magazine
Hase Paper for Newspaper
SMP
GNP
UPM
RAMA
The Times of India imports Glaze Paper from Canada, Russia, Japan
and Italy. Rama papers come from within India and it also depends on the rate
of paper they will also take it from local market.
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Inventory Management
Inventory means stock of Raw Material, work in progress and finished
goods. Inventory management is the planning and controlling of inventory in
order to maintain a reasonable level of inventory in order to ensure smooth
flow of production and minimum investment in inventory. There are various
techniques of inventory management.
In the Times of India paper are procured daily and that daily paper is
converted into finished goods i.e. Newspaper. Thus, The Times of India does
not using specific technique for inventory management but daily inventory is
maintained.
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Information About Machine
Times of India has imported machineries. They are using the best
qualitative machineries for printing of newspaper. Time of India uses the
following machineries for newspapers.
The main machine is used for the printing is Newsline-45. It
prints 45000 copies per hour. Time of India has installed 3
Newsline-45.
Another machine used for the printing of newspaper is Orient
line. It prints 35000 copies per hour.
Two binding machines are there for magazine.
One machine named Komoroi 35 which is kept in spare. It is
imported from Tokyo. It gives 25000 copies per hour.
So, we came to concluded that Times of India is having sufficient
machines for the printing of newspaper.
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Installed Production Capacity
Times of India is manufacturing 14,00,000 subscribers in Ahmedabad.
Along with that they are producing 6,00,000 copies more and from them
5,00,000 copies can easily be sold.
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Plant Working Hours
Generally printing of Newspaper is started in night. So, in Times of
India newspaper printing starts from 11:00 p.m. to 4:00 a.m. and that one hour
break is given between 1:00 to 2:00 a.m.
But plant works 24 hours because when newspaper is not printing at
that time printing of magazine is going on. So, that way plant works 24 hours.
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Quality Control
In Times of India raw material which is purchased is inspected to see
that it is not damaged. The final newspaper which is produced is inspected to
see that they meet with standard set. And due to this quality control Time of
India newspaper is having the best quality and therefore it is the most popular
newspaper in Ahmedabad just because they are providing the best quality at a
reasonable rate.
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Waste Management
Waste management has several dimensions-engineering, economic,
geographic and social and management. Its basic purpose is to minimize the
overall waste in a given system. Waste here refers to waste of all kinds of
resources but especially the material resources which constitute a significant
portion. Some waste is inevitable in any conversation process of inputs into
outputs. To reduce, waste we have therefore to minimize the use of resources.
Resource management and waste management are thus supportive to each
other.
The Times of India can easily manage the wastages of papers and also
they use it in an efficient manner. It may happen least time.
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PERSONNEL
32
DEPARTMENT
Contents
Sr. No. Particulars Page No.1. Introduction 372. Organization Chart 393. Recruitment, Selection & Induction 404. Training and Development 435. Wage & Salary Administration 446. Promotion & Transfer Policy 457. Benefits to the Employees 478. Provident Fund Scheme 489. Personnel Records 4910. Grievance Handling Procedure 5011. Industrial Relation 51
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Introduction
The Concept of personnel management underwent a systematic change.
It is a process of planning, Organizing, Directing and Utilizing the Human
Resources in productive and efficient manner. The personnel Management is
viewed as a part of management function, which is concerned with the people
in the organization and the relationship with the organization.
Prof. Thomas G. Spates offers the following definition: “Personnel
Administration is a code of ways of organizing and treating individuals at
work so that they will each get the greaest possible realization of their intrinsic
abilities thus attaining maximum efficiency for themselves and their group and
thereby giving to the enterprise of which they are a part its determining
competitive and its optimum results.
According to French “personnel management is the recruitment,
selection, development, utilization and accommodation to human resources by
organization The human resource of an organization consists of all individuals
regardless of their role who are engaged in any of the organization activities.”
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The society of personnel Administrative of USA defines personnel
management as “An art of acquiring, developing and maintaining a competent
work force in such a manner as to accomplish with the maximum efficiency
and economy the function and objectives of organization.”
Organization Chart
Manager (HR)
Chief Executive Officer
Executive
Supervisor
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Recruitment, Selection & Induction
Recruitment:
Recruitment forms the first stage in the process which continues with
selection and increases with the placement of the candidates. Recruitment is
the discovering of potential applicants for actual or anticipates organizational
vacancies. In the other words it is a linking activity bringing together those
with the jobs and these seeking. There are various factors affecting
recruitment.
The Size of the Organization:
The employment conditions in the community where the
organizational is located.
The effect of past recruiting efforts
Working conditions and salary and other benefits etc.
The Times of India adopts three methods for recruiting personnel, i.e.
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Direct Method
Indirect Method
Third Party Method
Selection:
Selection is the second step in the process of procurement of people. It
is the process of choosing the individuals who possess the necessary skill,
abilities and personality to successfully full specific jobs in the organization.
Thus in other words it is a problem of matching a man to the job. Selection
process begins with screening of applications and ends with hiring decision
and placement.
The Times of India follows the following procedure for selection:
Initial Screening
Interview
Preliminary Selection
Final Selection
The company formulates interview committee for selection. Here,
interview is taking by Director or HR head and if in case of production
employee test is also being taken.
Induction:
Induction may be defined as “The determination of the job to which an
accepted candidate is to be assigned and his assignment to that job. It is
matching of what the supervisor has reason to think he can do with the job
demands. It is a matching of what he imposes and what he offers in the form of
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pay roll, companionship with the other promotional possibilities etc. A proper
induction of a worker reduces employ turnover, absenteeism and accident rates
and improves moral.
HR manger is giving induction to every new employee for an hour.
Training & Development
Every organization needs to have well trained and experienced people
to perform the activities that have to be done. Training is a process of learning
a sequence of programmed behavior. It is application of knowledge. It gives
people awareness of the rules and procedures to guide their behavior.
The Times of India is well aware about the need of training for its
employee. Training is depends on the nature of the job in the company. It
means all information regarding the job. It defines the scope of job, activities,
responsibilities and relation with the other jobs. It provides both organizational
and functional information. It means job analysis and it is provided by the HR
manager to the new employee in Times of India.
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Wages and Salary Administration
Wages and Salary administration is one of the most important functions
of a professional personnel man and organization to manager a business is to
balance a variety of needs and goals, which requires careful judgment. The
most pivotal point in the character of employment of an individual in a
productive organization is to secure for him and his family the basic material
needs of life with inspiration to improve the conditions of living. Salary and
Wages received by an employee in the organization therefore assumes
priorities of consideration.
The Times of India has good wage & salary structure. It provides good
salary to their employee and provides incentives along with bonus at Dewali.
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Promotion & Transfer Policy
Promotion:
“A promotion is the transfer of an employee to a job which pays more
money or one that carries some preferred status.”
“Promotion involves a change from one job to another that is better in
terms of status and responsibilities”. Thus from the aforesaid definitions it is
clear that promotion involves the following three basic elements:
Better Job and Status
Greater Responsibilities
Increase in Pay and Perks
40
So according to collection or total points promotion are given but in
The Times of India due to new and fresh company they haven’t given any
promotion as well as not having the performance appraisal system due to not
completing a year.
Transfer:
Transfer is process placing employees in positions where they are
likely to be more effective or where they are likely get more job satisfaction.
This transfer is a process of employee’s adjustment with the work time and
place. Transfer is “a lateral shift causing movement of individuals from one
position to another usually without involving any marked change in duties,
responsibilities and skills for compensation”.
But transfer is done because The Times of India is a newspaper of
Bennet, Coleman & Co. Ltd. which has many other newspaper like Economic
times, Maharashtra Times & Magazines like Filmfare and Femina so transfer
are done between the different offices or presses in different states.
Benefits to The Employees
Incentives:
It is called “payment by result”. Incentives are paid in addition to
wages and salaries. Incentives are included in salary in Times of India.
Fringe Benefits:
Provident Fund Facility is provided to each and every employee of
Times of India. As well as canteen and the recreation facility on a designation
basis.
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Non-monetary Benefits:
Non-monetary benefits like challenging job responsibility, recognition
of merit, motivation, leadership are provided by Times of India.
Provident Fund Scheme
Provident Fund Scheme has been introduced in 1962. The Govt. has
made the law that any company must follow the provident fund schemes after
the establishment of 5 year plan.
In the scheme the firm orients the certain percentage of employee
salary and on that 12% of interest is paid. This amount is deductible from
salary. The employee can get this entire accumulated amount at the end of the
job if he retired. The standard of provident fund is 0.33%.
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Time of India provides the benefits of provident fund scheme to each
and every employee.
Personnel Records
A record is a piece of writing or a chart which provides ready
information and which confidence for future references or use. The importance
of record and reports for the management of an organization can not be over
emphasized. The personnel records that are maintained in a company are past
records, reference letters, leave records and attendance records etc.
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Times of India keeps file individually for all personnel for report
purpose. The officer continuously observe the personnel.
Grievance Handling Procedure
A grievance of not attended to or the grievance holder not satisfied than
they can be negative effect on the moral of the workers and also it will reduce
the worker’s productivity. Thus, a company’s grievance handling procedure
should be effectively executed in a company.
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In Times of India disputes among the workers and management is
settled through negotiations.
The relation of the unit with outside and neighboring units is also
excellent. This is the main and major part to get success in the present
competitive world.
In Times of India, there hasn’t any case of grievance arises but if it
arises then it will be taken car by the head of the department.
Industrial Relation
Industrial relations are concerned with the relationship between
management and workers and the role of regulatory mechanism in resolving
any industrial dispute. The company is succeeded in maintaining peaceful
industrial relation. In Times of India no strikes or any disputes has raised. It
45
show that the management is powerful efficient and clever enough to identify
the problem of workers.
46
MARKETING
DEPARTMENT
Contents
Sr. No. Particulars Page No.1. Introduction 542. Organization chart 553. Product Planning 564. Pricing Policy 575. Distribution Policy 596. Advertising 61
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7. Marketing Research 628. Market Segmentation 639. Competitors of The Unit 6510. Sales Promotion 6611. Contribution to The Society 6712. Market Readers 6813. Circulation 7114. Satisfying Consumer Demand 7215. Brand Management 73
Introduction
From the ancient time human always has been working to satisfy their
needs and wants. The six basic needs of human are food, clothes, shelter,
physical needs, medical needs, entertainment needs and educational needs. In
ancient time, people used to exchange different goods to satisfy their needs as
the monetary aspect was not prevailing at that time. But as years go by, people
realize the importance of other than basic needs like status, social needs etc.
Today is the era of globalization; people have become more concerned
regarding their all kinds of needs. In previous era, there were very limited
options to satisfy their need but today to satisfy a single need more than 25
options are available in the market.
“The marketing concept is a customer oriented backed by integrated
marketing aimed at generating customer satisfaction as the key to satisfying
organizational goals.”
48
“Marketing is the process of planning and executing the
conception, pricing, promotion and distribution of goals and ideas to create
exchanges with target groups that satisfy customer and organizational
objectives.”
- Philip Kotler
Organization Chart
Vice President
Chief Manager
General Manager
Assistant Manager
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Executive
Product Planning
Product planning is the process of determining that line of product
which can secure maximum net realization market. It is an “act of marketing
out and supervising the search, screening, development and commercialization
of new product, the modification of existing lines, and the discontinuance of
marginal or unprofitable items.”
Marketing is typical seen as the task of creating promoting and
delivering goods and services to concept holds that consumers will favors
those product that offer most quality, performance or innovative features.
50
Managers of Times of India favors on making superior newspaper and
improving them overtime. They assume that buyers admire qualitative and
well made newspaper and can apprise quality and performance.
Pricing Policy
Pricing is very critical decision in marketing management. The term
price can be defined as “Monetary value of anything at purchase or selling
point.” The pricing decisions are handled in a variety of way in different
companies.
According to Philip Kotler, “Pricing is the only element in the
marketing mix that creates sales revenue the other elements like products,
place are the art of cost.”
51
Various factors affect a decision of price. Pricing is one of the
important elements for getting success in today’s business world. Decision
concerning price to be followed to a period of time may be called a pricing
decision.
Times of India considers all the following factors while
deciding the prices.
Objective of the Business
Market position
Analyzing Competitors cost, price & offers
Distribution policy
Estimating Demand
Social & Ethical consideration
Selecting a pricing methods
Selecting the final price
Pricing is decided by the top management. They are using skimming
pricing. The price of The Times of India is just Rs. 2.50/-
Distribution Policy
The marketers use distribution channel to display or deliver the
physical products or services to the buyers or users. These are physical
distribution channels and services distribution channels. They include
warehouses, transportation vehicles and various trade channels such as
distributors, wholesalers and retailers.
52
Distribution channels should be set up properly otherwise its result
would in the failure of the product. Channels should be chosen according to
their efficiency, controllability and adaptability.
Distribution channel is the combination and sequence of agencies
through which are or more of marketing flows move. It may be defined as “a
pathway composed of intermediaries, also called middleman who perform
such functions as needed to ensure smooth and sequential flow of goods and
services form the manufacturing ends to the consuming ends in order to
achieve marketing objectives of a company. “Broadly distribution channels
may be classified as non-integrated and integrated”.
Channel Choice
Manufacturer - Consumer
Manufacturer - Retailer - Consumers
Manufacturer – Wholesalers – Retailers - Consumers
Manufacturer – Wholesalers – Retailers - Consumers
53
Times of India has good distribution channel that they have their own
office in Ahemedbad so from over there newspapers agencies can collect the
newspapers and distributes to the final consumers.
Advertising
One of the most representative & widely accepted definition has been
given by the Definition committee of the American Marketing Association i.e.
AMA. According to it, Advertising is “Any paid form of non-personal
presentation & promotion of ideas, goods or services by an identified sponsor.’
It is paid communications because the advertiser has to pay for the
space or time in which his advertisement appears. The advertiser or sponsor
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(seller) wants to persuade & includes the readers, viewers or listener to take
some action viz. to buy the advertised product so that the advertiser can have
profitable sales.
Advertising aims at creating, maintaining & increasing sales of the
products of the enterprise. It informs the customers existing & prospective
about the products of the company draw their attention to the product and
encourage them to buy the products of the enterprise by creating the will and
desire in their minds to purchase the goods.
The Times of India has always kept a low profit and is a firm believes
of “Quality speaks for itself”. Further before it is going to launch in
Ahmedabad, mouth publicity had been done by the newspapers. So, it doesn’t
need advertisement but there is a special campaign going on named ‘Satta
Paltai” and for that they are doing the advertisement by hoarding boards,
wallpapers, pamphlets etc.
Marketing Research
Marketing Research has been variously defined by marketing
researchers. According to crisp marketing research is “The systematic,
55
objective and exhaustive search for and study of the facts relevant to any
problem in the fields of marketing.”
According to Green and Tull, “Marketing Research is the systematic
and objective search for and analysis of information relevant to the
identification and solution of any problem in the field of marketing”.
However, by far, the most widely accepted definition of marketing
research is the one given by The Definition Committee of the American
Marketing Association. According to it, Marketing Research is, “The
systematic gathering, recording and analyzing of data about problems relating
to the marketing of goods and services”.
Market Segmentation
Market segmentation is a method of achieving maximum market
response form limited marketing resources by recognizing difference in the
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response characteristics of various parts of the market. In a sense, market
segmentation is the strategy of ‘divide and conquer’, i.e. dividing markets in
order to conquer them. “To whom should we sell our products and what should
we sell them?” It is strategic choice concerned with “Doing the right things” as
opposed to tactical choice, “Doing things right.”
Market segmentation emblems the marketers to give better attention to
the selection of customers and offer an appropriate marketing mix for each
chosen segment or a group of buyers having homogenous demand. Each sub-
division or segment can be selected as a market target to be reached with a
district or segment can be selected as a market target to be reached with a
distinct marketing mix. Now a day, newspaper has become a necessity. Men’s
primary needs are food, water and shelter is necessity to satisfy. But my
personal belief that in today’s era except food, water and shelter one more
thing is there i.e. Newspaper is also a primary need. Sun does not rise without
newspaper that’s what I believe.
Market Segmentation of Times of India through geographical it is
spread in all over Ahmedabad in Urban and rural area.
Age: 10 +
Gender: Both male and female
Geographical: Rural and mostly in Urban
Class: Doctors, Lawyers, Officers, Students, Teachers
Competitors of The Unit
57
In today’s world, there are competitors in each and every field whether
it is in the field of food items, industrial goods or newspaper. Competitions has
its own demerits and advantages. Competitions is indirectly beneficial to
customers as customers achieve quality goods at reasonable prices. Hence the
first priority for any firm is not to attain maximum profit but to services in the
market.
Times of India faces tough competition form its rivals firms. Their
main rivals are:
Gujarat Samachar
Sandesh
Divya Bhaskar
58
Sales Promotion
Sales promotion is an important instrument in marketing to lubricate
the marketing efforts. Today, sales promotion is necessity and not merely a
luxury or a fashion. It is expenditure; it is an investment which can be pay rich
dividends. It is an integral part of the marketing effort.
According to William J. Stanton, “Sales promotion is exercise in
information, persuasion and influence.”
According to Philip Kotler, “Promotion encompasses all the tools in the
marketing mix whose major role is persuasive communication.”
In short, sales promotion is the bridge or a connecting link covering the
gap between advertising and personal salesmanship, the two wings of
promotion.
For sales promotion, Times of India gave an attractive guide book of
the whole Ahmedabad. Those subscribers who are having telephone, Times of
India has given telephone diary. Along with that Times of India has also given
free calendars, Quarranty bond, Posters, NRI guide & Panchang.
Discount or price cut-offs are given to the dealers by Times of India for
the purpose of sales promotion. They also organize seminars for the college
students.
59
Contribution to The Society
Times of India contributes to the society by following ways;
Provides Employment:
Time of India provides employment to large no. of employee as it
works continuously and also raises standard of living by paying them
satisfactory returns.
Provide Donation:
Times of India is giving donation frequently in funds like prime
minister’s fund and other funds. There is no specific time or occasion. Some
income of advertisement is charitable to women’s welfare organizations.
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Market Readers
19
1033
2
1
20
146
T.I.
E.T.
I.E.
F.E.
B.S.
Ohters
G.S.
Sandesh
Phoolchab
As in Saurashtra most of the people follow the vernacular newspaper as
Gujarati is the mother tongue and due to it more local newspapers are
preferred. Though due to awareness the rend is changing now, as we can see in
the above diagram Gujarat Samachar is a leader in a market with 20% but
Times of India is also chasing and the market covered by 19% while of Indian
Express is of only 3% Economic Times also progressing with 10% compared
to Financial Express of just 3%.
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Interested sections read by different segments
36
1012413
103 12
C.N.
Eco.
Bus.
Pol.
Sports
Edi.
Acad.
Others
Considering the general public they are mainly related to the current
news so they prefer those newspapers that are catering current as well as local
news. Therefore the highest rate of area of reading is of news i.e. 36% people
are also wanted news related to their business which is 12% and for leisure
time they wanted to read something about sorts which is 13%. There are only
10% who are interested in Economic news. And especially for English Dailies
among English Readers there are 10% readers who are interested in editorial
page.
62
Reasons Affecting Buying Decisions
49
38
13 Language
Local New s
Subscription
Slice 4
As here in Saurashtra the major problem is of language i.e. most of
people prefer Gujarati newspapers that are why in above figure we can see that
almost half of the samples have given the reason of language which affects
their buying decision. And also people are habituated to the local news because
of their mentality that they are not related with the international news, that’s
why 38% of them are selecting newspapers which are providing more local
news. Here in Saurashtra there is a trend of subscription schemes because 13%
are also selecting newspapers on such schemes.
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Circulation
Circulation is a very important part of publishing industry. Circulation
not only ensures that the product reaches the end customer, i.e. the readers on
time but also ensures increase in circulation sales volumes by consistent and
innovative circulation marketing efforts through scheme based promotions.
Circulation system of Times of India is very good. FMCG (Fast Moving
Consumer Goods) companies take immense pride in their distribution setups.
But when it comes to distributing a newspaper, the network is more complex,
more intriguing, and more rigorous than any FMCG product. Newspaper reach
millions of homes, day in day out, at 6:30 or 7:00 in the morning.
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Satisfying Consumer Demand
As print media is a growing challenges The Times of India looks
forward to satisfy the following of the consumers at the fullest which are:
Save time
Give me what I want, when I want and the format I want in
My need will change so keep pace with me….
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Brand Management
Brand management was introduced in late 80’s The strategies for the
brand management are:
Brand reality evaluated objectively
Individualizing the customer
Promoting the power positioning
Humanizing the identity
Other similar success stories are :
Filmfare
Business Today
The Times of India (Delhi & Banglore)
66
FINANCIAL
MANAGEMENT
67
Index
Sr. No. Particulars Page No.1. Introduction 762. Organization Chart 783. Finance Planning 794. Capital Structure 815. Working Capital Management 826. Price Determination 83
68
Introduction
Finance is the foundation some of every business in the present day
setup. No business can be started without adequate finance nor can be
developed. The success of every business depends upon adequate source of
finance. The financing of sole and partnership is not difficult as the main
source of finance is their own contribution and financial requirements. Are
also limited. In the present modern requirements are large volumes of finance
which can be contributed by few inventors.
Finance management is a managerial activity which his associated with
planning and controlling of company’s financial resources. The financial
resources are always scare and limited which needs proper planning and
control in order to achieve the best result out of the complex situation of risk
and uncertainly prevailing in the business world.
“Financial Management is an area of financial decision making,
harmonizing individual motives and enterprise goals.”
- Weston and Brigham
“Financial Management is concerned with the effective use of an
important economic resource, namely capital fund”.
- Ezra Solemn & Cringle John J.
“Financial Management is concerned with such matters as how a
business corporation rises its funds and how it makes use of it”.
69
- Hoagland
Organization Chart
General Manager
Chief Manager
Sr. Manager
Manager
Officer
70
Financial Planning
Capital is a life blood of a business. No business, however small it can
be carried successfully without proper arrangement of capital. Since
incorporation of a business, funds are invariably required off and on to carry
on the various activities of the concern.
Meaning: Finance planning means deciding in advance, the financial
activities to be carried on to achieve the basic objectives of the firm. The basic
objectives of the firms are to get maximum profit out of minimum efforts or to
maximize the wealth of the corporation to its shareholders in an efficient
manners. So, the basic purpose of the financial planning is to make sure that
adequate funds are raised at the minimum cost and that they are used widely.
In The Times of India, there is a Finance & Account Department for
financial planning. This department plans, organizes, directs and control the
Finance & Account of company.
The main functions have to be performed by this department are:
Dealing with financial institutes, banks etc. for the dealing of
sources of funds
Optimum utilization of funds
Cash flow management
Lease and Hire purchase
71
Capital Structure
In order to start and function a company smoothly, desired capital is
required. The finance is needed from the date of promotion of the date of
incorporation and commencement. Correct estimate of finance is a necessary
condition for functioning. Current and future needs. Capital structure of a
company refers to composition or make up of its capitalization and it covers all
long term capital resources, loans, reserves, shares and bonds.
“Capital Structure of a company refers to the composition or make up
of its capitalization and it includes all long term department, preference shares
capital and share holders’ fund.”
- Gerestenberg
“Capital structure includes long term 72epts.. Preference shares, capital
reserve and surplus etc.”
- I.M. Panday
So by that way finance can be procured form various sources like by
issuing equity shares, preference shares, financial institutions and banks these
are some of the external sources whereas an internal sources includes rising
funds from relative, friends, directors and through plough back etc.
The Times of India have sufficient sources of funds or capital structure.
72
Working Capital Management
“Current assets, by definition, are assets normally converted into case
within one year. Working capital management usually concerned to involve
the administration of these assets namely cash and marketable securities,
receivables and inventories.”
- James C. Von Horne
Working capital means current assets such as cash, accounts
receivables and inventories etc. minus the current liabilities (Net working
capital concept). The management of current asset is an important as or rather
more important than the management of fixed assets because the fate most of
the business very largely depends upon the manner in which their working
capital is managed.
The working capital is used for the purpose of Raw Material, payment
of salaries to the employees; day-to-day expenses like payment of tea bill;
electricity bills other administrative expenses etc.
In The Times of India working capital plays an important role. The
management of working capital is done in such a way that the firm does not
faces financial crisis because the security of finance will create disturbance in
the working of the firm.
73
Price Determining Chart
Particular Parameters AmountDVC Act (per copy)
Total DVC Copy
Circulation Revenue
Loss
Other Exp.
Loss
Response Revenue
20 Paisa * 20 Pages
1 Lac. Circulation*
Rs. 4
Rs. 2.5 30% *1Lac
Copy
OH+AFC etc
(7Pages) *460cc* Rs.
400(35%ad=7page)
4.00
4,00,000.00
-2,25,000.00
5,70,000.00
-8,35,000.00
11,20,000.00
PBT 2,69,000
The above chart shows that how the price is determined for the
newspaper and how advertising holds to cover losses into profit. The net profit
of The times of India is 1500 crore (approximately). It publishes 20 lacs copies
per day from 8 different sector.
74
SWOT
ANALYSIS
75
SWOT Analysis
If you do not know where you are going you can take any road. “This
famous quote epitomized the attitude of people and their lack of planning. It is
primarily because of lack of strategic direction. As a result it is hard to look at
the actions and determine where you are and where you want to go. This is
where SWOT analysis plays an important role. SWOT is an acronym for
Strength, Weakness, Opportunities and Threats.
SWOT analysis is universally accepted as an effective method of
identifying your strengths and weakness, and examining the opportunities and
threats you face. It is a process in which you can gather and assess, in an
orderly manner, information that will become the basis of your development
plans.
Strength:
It is one thing to discern attractive opportunities and another to
have the competencies to succeed in these opportunities. Each business needs
to evaluate its internal strength and weakness periodically.
Best Quality at Low Price:
The major or the biggest strength of The Times of India is that it
provides newspaper at the best quality than any other Gujarati newspaper in
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Ahmedabd. And the price of this newspaper is just Rs. 2.50/- along with latest
magazines which no other newspaper is providing.
Popularity:
Another strength of The Times of India is that it has got popularity in
Ahmedabad and those are the subscribes of The Times of India newspaper
feels proud when they read this newspaper. In short, every one knows The
Times of India in Ahmedabad.
Good Working Environment:
The Times of India is having good working environment for bottom
level as well as middle level management. So it may affect the moral of any
employee.
Weaknesses:
The business does not have to correct all the its weakness nor should it
gloat about all its strengths.
No Advertising:
77
Major weakness of The Times of India is that they are not doing
advertising. And because of that people of Gujarat don’t know about this
newspaper except Ahmedabad.
Limited to Ahmedabad:
The Times of India newspaper is published only in Ahmedabad so they
should look forward to other big cities of Gujarat.
Less Staff:
In The Times of India’s finance department, there are a few numbers of
employees working over there. They are not having sufficient staff for finance
& Account department.
Opportunities:
It is an area of buyer’s need in which company can perform
profitability. The company’s success probability depends on whether its
business strengths not only match the key success requirements for operating
in the target market but also exceed those of its competitors.
The Times of India is having the opportunity to enlarge its selling in
whole Gujarat. The quality of The Times of India newspaper is the best at very
nominal value so if it enlarges it’s selling towards Saurastra region, definitely
the selling of THE TIMES OF INDIA will high. They are also having the
opportunities to start any magazines or news channel in Gujarat. Because
78
Ahmedabad people fully trust THE TIMES OF INDIA and it is starts a news
channel them it may get good response.
Threats:
It is challenge posed by an unfavorable trend or development that
would lead in the absence of defensive marketing. Action to deterioration in
sales or profit.
Generally for any of the industries, its competitors are the biggest
threat. So for THE TIMES OF INDIA. Gujarat Samacher, Sandesh and mainly
Divya Bhaskar are the major, threat, Along with that its less awareness in
Saurastra region may become a threat for it.
SUGGESTIONS
79
Suggestion
I would like to give my views to the company so are as:
1. They should try to provide other bulletins of Times to the other
cities.
2. Company should also concentrate in Research & Development
programs.
3. Efforts should be made to increase the productivity and to provide
the newspaper at cheaper rate.
4. They should do some advertisement to aware the people of other
cities of the state about the newspaper.
5. They should provide various types of schemes to attract more
readers.
6. They should have to maintain good communication with the
people.
80
7. They should have to attract new generation for their product by
organizing different types of seminars, tours etc.
81
FUTURE PLANS
Future Plans
THE TIMES OF INDIA is looking forward to enter into infotainment
industry.
Look for more sanitation of Radio Mirchi.
They are also looking forward to expand planet M
82
83
CONCLUSION
Conclusion
I am thankful to The Times of India for giving me all the required
information required during the visit in the most successful newspaper unit.
All the managers, staff members and workers were polite, lend and quite
helpful. I am thankful to all the mangers of different departments for giving me
information by spending their precious time. Especially I am thankful to Mr.
Mukund Shukla (HOD) who guide about The Times of India. It was a great
experience to visit THE TIMES OF INDIA. I won’t forget it for life time.
84
Thus, it can be concluded that the company reach the target of
perfection.
85
BIBLIOGRAPHY
Bibliography
MARKETING MANAGEMENT
BY: J.C. GANDHI
BY: PHILIP KOTLER
&
BY: S.A. SHERLEKAR
86
PERSONNEL MANAGEMENT
BY: C.B. MEMORIA
PRODUCTION MANAGEMENT
BY: CHHYNAWALA
FINANCE MANAGEMENT
BY: KING’S
WEBSITE
http://www.thetimesofinida.com
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