consumer perception and preference towards mint

RAHUL AUDDYAUNITEDWORLD SCHOOL OF

BUSINESS040201091

STUDY OF CONSUMER PERCEPTION AND PREFERENCE

TOWARDS MINT

Mr. Hemang Gandhi Dr. Sunil Patel(External Guide) (Internal Guide)Deputy Manager ProfessorMINT UWSB, AHMEDABAD

03/05/2023SUMMER INTERNSHIP PROJECT

CONTENTSHT MEDIA LTDMINTCIRCULATIONDEPARTMENTSDISTRIBUTIONRESEARCH METHODOLOGYANALYSIS & INTERPRETATIONFINDINGSSUGGESTIONSLIMITATIONS

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HT MEDIA LTD.

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Hindustan Times was founded in 1924 by Sunder Singh Lyallpuri, founder-father of the Akali movement and the Shiromani Akali Dal in Punjab.

K. M. Panikkar was its first editor with Devdas Gandhi (son of Mahatma Gandhi) on the editor's panel. The opening ceremony was performed by Mahatma Gandhi on 26 September 1924.

It has its roots in the Indian independence movement of the first half of the twentieth century and even faced the noted "Hindustan Times Contempt Case (August–November, 1941)" at Allahabad High Court.

It’s products include: MINT, Hindustan Times, HT City, Shine.com, Desimartini.com, FM Fever 104 and Livemint.com

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MINT

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03/05/2023SUMMER INTERNSHIP PROJECT6


MINT Ahmedabad edition

Magazines with MINT

Stock market and mutual funds

Monday to SaturdayEdited by: R Sukumaran

Monday to Friday: MINT MONEY

MINT MONEY dedicated page

Weekdays at 4/- and Saturday at 10/-

Saturday: Lounge Insurance scheme on half page

Formulate specification

50-52 cms in lengths and 32.9 cms wide

Monthly: Indulge Collaborated with the WALL STREET

JOURNAL

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SWOTSTRENGTH WEAKNESS OPPORTUNITY THREAT

Berliner format easy to

handle

High on self promotion of

App

Fastest growing brand, 2nd

largest readership in 7 yrs

Brand loyalty to Economics

Times

Best in class paper quality,

attractive

Company compromising on

revenue by selling at Rs. 4

which is very low for the

magazine type paper

Very attractive to eye, low

on price, and thus accepted

duly.

Switching of customer from

traditional reading to e

reading

Bright use of colours and

printing quality

Covers lesser detailed

financial news compared to

the others

Advantage of e-paper, high

on advertisements, revenue

generation

High raw Material cost than

other papers.

As it includes huge amount

of colour and pictures

Business of Life, a premier

content on the centre spread

Excessive social media

presence can reduce the hard

copy distribution

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PRICING

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Monday to Friday: INR 4Saturday: INR 10Yearly Cover Cost: 1560Subscription Plans:

1. INR 899 (Whole Year)2. INR 399 + (INR 40 per Month to Vendor)3. INR 989 (Whole Year with Gift)4. INR 509 + (INR 40 per Month to Vendor)

{Gift Included}


THE COMPETITION

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CIRCULATION

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Raw Material

Printing Press

Bharuch

Vadodra Anand

Agents in

each city

Book Stalls

Hawkers

Vendors

Hawkers

Readers

Nadiad

Ahmedabad

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DEPARTMENTS

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DEPARTMENTS

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NehrunagarPaldiIncome TaxKhanpurKalupurManinagar

DISTRIBUTION CENTRES

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RESEARCH METHODOLOGY

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PARAMETER SELECTION

DATA SOURCE

Primary Data Source: Survey and QuestionnaireSecondary Data Source: Company and other websites

RESEARCH APPROACHSurvey at the time of sales and questionnaire

RESEARCH DESIGN Exploratory research

RESEARCH INSTRUMENT Questionnaire

SAMPLE REGIONCorporate offices, Banks and Stock Brokers

SAMPLING AREA Ahmedabad, Baroda and Gandhinagar

SAMPLE SIZE 200

TARGET MARKETCA, CS, Stock Brokers, Bankers, Investors, Professionals, Teachers, Students, Policy Makers

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SIP TARGETS

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WHAT IS TO BE ACHIEVED? WHAT IS ACHIEVED?

Sales in Ahmedabad: 45 Sales in Ahmedabad: 223

Sales in Vadodara: 4 Sales in Vadodara: 5

First to sell Subscription amongst team

Achieved

First Day highest sales figure Achieved

Lead a team of 11 interns from Sal college and KS college


ANALYSIS AND INTERPRETATION

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Analysis

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OccupationIncomeMarket ShareBasis of paper selectionConsumer buying decision


OCCUPATION

23%

2%

63%

8%4%

BusinessmanOthersServicesStock BrokerStudent

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GENDER:- Male: 165 Female: 35AGE:- 21 – 30: 58 31 – 40: 77 41 – 50: 42 51 – 60: 19 61 +: 4


INCOME1%

9%

28%

57%

4%

10001 - 1500015001 - 2000020001 - 2500025001 - 30000

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MARKET SHARE

23

24%

36%6%

5%

30%

BUSINESS STANDARDECONOMIC TIMESFINANCIAL EXPRESSHINDU BUSINESS LINEMINT


BASIS OF PAPER SELECTION

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53%

36%

1% 6%5%

ContentLanguageOthersPaper QualityPrice


BUYING DECISION TOWARDS MINT

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Rank the features which would affect your buying decision towards MINT _ Colour of Paper

Rank the features which would affect your buying decision towards MINT _ Size of Paper

Rank the features which would affect your buying decision towards MINT _ Info Graphics

Rank the features which would affect your buying decision towards MINT _ Quality of News

0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50

3.08

3.04

2.52

1.37


CHOICE OF SUPPLEMENT NOT SUPPLIED WITH MINT

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8%

20%

28%

28%

16%

EducationEmploymentIndustrialPortfolio ManagementSocial


SATISFACTION LEVEL TOWARDS MARKET INFORMATION

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64%6%

31%

ModerateNot Sat-isfiedSatisfied


MINT FEATURES: RANKING

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Rank the features of MINT in terms of news content _ Political

Rank the features of MINT in terms of news content _ Cultural

Rank the features of MINT in terms of news content _ Corporate News

Rank the features of MINT in terms of news content _ Tax and Legal Advice

Rank the features of MINT in terms of news content _ Stock Market

0.000.501.001.502.002.503.003.504.004.50

3.91

3.91

1.92

2.42

2.84


RELATION BETWEEN AGE AND CHOICE OF SUPPLEMENT WHICH IS NOT PROVIDED BUT DESIRED

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Education Employment Industrial Portfolio Management Social0

5

10

15

20

25

30

35

1

25

8

17

77

12

30

17

11

7

2

16

12

5

1 02

10

6

0 0 1 1 2

Age 21-30 Age 31-40 Age 41-50Age 51-60 Age 61+


RELATION BETWEEN GENDER AND SATISFACTION LEVEL OF SUPPLEMENTS PROVIDED

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Average Not Satisfying Satisfying Very Satisfying

70

121613

1

82

69

Female Male


HYPOTHESIS 1: Monthly Income and attraction factor to buy a financial newspaper As the Pearson Chi-Square Level of Significance is higher than

5%, (10.6%), the H0 (Null Hypothesis) hold true and Monthly Income and attraction factor to buy a financial newspaper are independent.

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Content Language Others Paper Quality Price0

10

20

30

40

50

60

70

10001-1500015001-2000020001-2500025001-30000Nil - 10000


HYPOTHESIS 2: Education Qualification and reason for subscribing to MINT As the Pearson Chi-Square Level of Significance is higher

than 5%, (12.9%), the H0 (Null Hypothesis) hold true and “Education Qualification and reason for subscribing to MINT are independent.”

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Brand Value Gifts and Discount

Information Price Supplement0

5

10

15

20

25

30

35

GraduatePost GraduateUnder Graduate


FINDINGS

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MINT is more preferred at residences rather than corporate offices here in Ahmedabad, because of the striking magazines provided by MINT.

People with prolonged work experience and who has stayed in the northern parts of the country prefer MINT to Economic Times, Business Standard and Business Line. MINT, in the northern parts of the country has a wider market share and dominance as compared to the names mentioned above.

Most of the newspaper readers in Gujarat, specially Ahmedabad are not fluent English readers and rely mostly on Sandesh, Divya Bhaskar, Gujarat Samachar and NavGujarat Samay.

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Economic Times has a special Gujarati edition which specifically targets Gujarati speaking and reading readers. MINT only prints in English and thus loses out on a fair share of market.

Colleges and B schools across Ahmedabad and Baroda has wide readership of MINT.

MINT is the fastest taken away newspaper at airports and lounges.

The discounted rates of subscription and gifts that are given to subscribers are the prime sales driving force for MINT.

Most respondents in the survey conducted do not consider MINT to be a hardcore financial business daily newspaper.


SUGGESTIONS

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MINT should provide the option for online fund transfer through the internet and Net Banking facilities. This makes it way simpler for the subscribers to pay once they have subscribed to MINT.

The number of supplements provided by MINT is very few in number when compared to the Economic Times. If MINT wants to create a market as huge as Economic Times.

The pricing of MINT should be kept constant for a longer duration of time.

Interns working with MINT to increase readership should be given proper sales territory.

The LIVEMINT app gets to much of attention and limelight in the MINT newspaper, this can be reduced by a fair extent.

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LIMITATIONS

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Ahmedabad has a very limited number of English newspaper readers, thus the market is limited by size. There are very few readers in Ahmedabad who appreciate MINT, its language, its association with The World Street Journal.

There are over 7000 MINT readers in Ahmedabad and the survey was conducted on 200 people only, which is a very small sample in regard to the population.

Economic Times has a huge brand name in Ahmedabad and the brand value that people associate with it is really difficult to switch to any other brand, whether be it MINT, Hindu Business Line or Business Standard.

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PHOTO GALLERY OF EVENTS TAKEN IN-CHARGE OF:

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Handling Baroda Interns Promoting MINT at ICSI Event at The Fern Hotel: Mr. Gandhi, Raktim and Me


THANK YOU

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