Professional Documents
Culture Documents
SUBMITTED BY: Amar Kumar Prathanna Goswami Zulekha (G12007) (G12036) (G12059)
Table of Contents
1. 2. 2.1. 2.2. 2.2.1. 2.2.2. 3. 3.1. 3.1.1. 3.1.2. 3.2. 3.2.1. 3.2.2. 3.2.3. 3.2.4. 3.2.4.1. 3.2.4.2. 4. 4.1. 4.2. 4.3. 4.4. 4.4.1. 4.4.2. 4.4.3. 4.4.4. 5. 6. EXECUTIVE SUMMARY .................................................................................................................... 2 INDUSTRY ANALYSIS........................................................................................................................ 2 Indian Print Media Overview ..................................................................................................... 2 Print Media Industry Analysis ..................................................................................................... 3 Macro Environment analysis using PEST framework .......................................................... 3 Michael Porters Five Force Analysis................................................................................... 3
FIRM ANALYSIS ................................................................................................................................ 6 Company Overview: Bennett Coleman & Company Ltd. ............................................................ 6 Subsidiaries of BCCL ................................................................................................................ 6 Key Businesses ........................................................................................................................ 8 Company Analysis ..................................................................................................................... 10 BCCLs SWOT Analysis ........................................................................................................... 10 Establishing the Competitive Advantage .............................................................................. 10 Threat to sustainability ......................................................................................................... 15 Sustainable competitive advantage ...................................................................................... 16 The Resource-Based Theory.............................................................................................. 16 Isolating Mechanisms........................................................................................................ 17
BUSINESS UNIT ANALYSIS ............................................................................................................. 20 Times of India Overview ........................................................................................................... 20 Performance Statistics of Times of India .................................................................................. 20 Strategic Positioning of Times of India ..................................................................................... 21 Cost Leadership Strategies followed by Times of India ............................................................ 23 Customer Contact Centre Implementation .......................................................................... 23 Strategic Co-operation by forming Strategic and Competitive Group.................................. 24 Pricing Strategy ..................................................................................................................... 24 Cost drivers of Times of India ............................................................................................... 26
Indian print media is one of the largest print media in the world. There is no dearth of news in India. A growing economy, mushrooming advertising budgets, rising disposable income and, above all, increasing literacy rates have fuelled a newspaper renaissance, with new titles and fatter editions appearing by the month. Since 2005 the number of paid-for daily newspaper titles in India has grown by 44 per cent to 2,700, according to the World Press Trends 2010 survey published by the World Association of Newspapers (WAN-IFRA). That makes it the world leader ahead of the United States with 1,397 titles and China with 1,000. India also has the world`s highest paid-for daily circulation, having surpassed China for the first time in 2008. Indian newspapers are also incredibly cheap, with revenue driven by advertising rather than sales. The market liberalization of the early 1990s triggered the rapid expansion of an Indian middle class that was hungry for information and represented a boom in potential consumers as well as newspaper readers. India boasts the world`s largest English-language newspaper in the Times of India, with a circulation of around four million and a well-educated, affluent readership that allows it to charge ad rates more than 10 times those of Hindi and other language publications. The clearest sign of this broadening appeal is the ascendance of the non-English press. Circulation of Hindi newspapers, for
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example, has risen from less than eight million in the early 1990s to more than 25 million in 2009. And circulation figures only tell half the story, as many more people read newspapers than actually buy them. Moreover, there are still 800 million to 900 million people waiting to start engaging with newspapers
2.2.
Political
Economic As Indias growth story percolates into the rural and Tier I/II tows of India, the attractive of these consumers from a corporation point of view will grow which will attract better advertisement rates. The un-catered segment in the rural and Tier I/II towns will make sure that the industry is growing and the competitive forces will reduce.
Social Increased literacy is one reason for the rise in newspaper readership Human development index among top states in India. Extensive road network, providing links between urban centres, agricultural marketplaces and rural areas.
Technology Growth of internet will be a cause of worry. Due to emphasis on the sustainable practices, the industry will face problems and have to find sustainable ways to find the inputs.
We will analyze each force by asking Is it sufficiently strong to reduce or eliminate industry profits? 1. Industry competitors and extent of rivalry and advantage Rivalry among the leading players is very high. Suddenly, they have woken up from hibernation and are fighting for the extra pie of the print media market. The high opportunity in the industry is also tempting large media houses to follow unethical practices to dominate the market. The firms are also fighting to increase to circulation by lowering price to as low as Rs. 1. Details of the players: Category Dailies Players Deccan Chronicle, The Times of India, The Hindu, Aaj Tak, India Abroad, Deepika Global, Asian Age Business dailies The Economic Times, The Financial Express, Business Line, Business Standard Weeklies Monthlies Regional Andhra Pradesh: Deccan Chronicle, Andhra Bhoomi, Hindi Milap Delhi: Hindustan Times, Pioneer Maharashtra: Bombay Mid-day, Lokmat Times, Sakaal , Loksatta West Bengal: The Telegraph, The Statesman Film related Filmfare, Screen, Planet Bollywood, Indian Express Bollywood Scoop, Apun Ka Choice, Indian Television, RedifIndia, Film Trip, Star Dust and The Week, Outlook, India Today, Asha kiran, Panchjanya weekly
PC Quest, Cyber India, Data Quest, Voice & Data, Computers Today, Express Computer, Silicon India The Onion, India Today Plus, Des Pardes, India Together, Teens Today, Andhra Jyothi in telugu, Wow Hyderabad, Zee Premiere, Showtime, Arcade, JAM, India Talkies
2. SuppliersThere are mainly two critical suppliers in the print media industrya. Paper Manufacturers- Fairly low. b. Content providers- Newspapers get news, features, and photos of state, national, and international interest by teletype or mail from the inter-national and national wire services like the Samachar, now reverted into 4 news agencies-The Press Trust of India (PTI), United News of India (UNI), Hindustan Samachar (H.S. Hindi) and Samachar Bharati (S.B. Hindi). The news agencies wield tremendous power in news media space. Many news vehicles depend on them for their daily dose of national and international news. The news agencies are the media of the mass media. A news agency is to a mass medium, what an apex bank is to commercial banks within a nations financial system. If the media are the agenda-setters, then news agencies are super agenda setters. 3. New entrantsThe newspaper industry has relatively high entry barriers due to the strong brand equity of existing players. The brand equity is derived from customer loyalty, which is automatically associated with newspaper by virtue of being an experience product. Also, existing players have strong control over the distribution network, making it difficult for new players to enter. 4. BuyersBuyers enjoy very high bargaining power. Individual readers can choose to read online content for free at most newspapers instead of paying Rs. 1 to Rs. 5 for a newspaper. Large advertisers another type of customers likely have a great deal of power to bargain. 5. SubstitutesExtremely high. Most markets have multiple news sources. Many people are content to seek news from TV stations or national publications. Even those who want focused, local news from print publications have more than one option (business journals, magazines, competing newspapers).
3. FIRM ANALYSIS 3.1. Company Overview: Bennett Coleman & Company Ltd.
Bennett Coleman and Company Limited (BCCL) is the largest publishing company in India and South-Asia. BCCL is commonly known as Times group of India & is the largest mass media company in India. Starting off with The Times of India which is now the largest English publication in the world, BCCL and its subsidiaries (called The Times of India Group), are present in every existing media platform Newspapers, Magazines, Books, TV, Radio, Internet, Event Management, Outdoor Display, Music, Movies and more. With a turnover exceeding a $1.5 billion, the group has the support of over 25,000 advertisers, 11,000 employees and an audience spanning across all continents.
Radio Mirchi National network of Private FM stations 360 Degrees Events Times Outdoors Outdoors Mirchi Movies Limited Filmed Entertainment. Producers of BEING CYRUS, VELLITHIRAI, MANJADIKURU Times Internet Limited: Times Internet Limited is one of the largest internet companies of India. It
has interests in online news, online business news, Hindi, Marathi, Kannada, and Bengali news, mobile, e-Commerce, music, video, and communities. Some of the larger properties of TIL include:
Indiatimes shopping - one of the largest and earliest ecommerce portals in India
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Indiatimes Times of India Economictimes.com |Economic Times] Navbharattimes.com Navbharat Times Maharashtra Times Timescity.com Times City Gaana.com BoxTV.com TimesDeal Times of Money: Times of Money operates financial remittance services for Indians abroad to send
money back to India. Their product, remit2India, is a standalone product, while also powering the remittance services of many banks globally.
Times Global Broadcasting Limited: It is the Television division. It is also called Times Television
Network.
Times Now A general interest news Channel Smart Hire A Consulting Division - Recruitments ET Now A business news channel Zoom A 24x7 Bollywood entertainment and gossip channel Movies Now A 24x7 Hollywood Movies channel in High Definition (India's first)
TimesJobs, a jobs portal Techgig, a professional networking site for Technology Peoples. SimplyMarry, a matrimonial portal Magic Bricks, a real estate portal Yolist, free classifieds portal Ads2Book, online classifieds booking system for print publications PeerPower, a Senior-Level professional networking portal
World Wide Media: World Wide Media - started off as a 50:50 magazine joint venture between
BCCL and BBC magazines. In August 2011, it was announce that Bennett, Coleman & Co. bought out the remaining 50 per cent shares of Worldwide Media from BBC Worldwide thereby making World Wide Media a fully owned subsidiary of BCCL.
Filmfare Filmfare Awards Femina Femina Miss India A Beauty Pageant Top Gear Magazine India BBC Good Homes
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Femina Hindi Grazia What to Wear TIML Radio Limited: On 30 May 2008, SMG sold The British Virgin Radio to TIML Radio Limited for
53.2 million with 15 million set aside for rebranding. On 28 September 2008, The British Virgin Radio Station rebranded as Absolute Radio, including the sister radio stations Absolute Xtreme and Absolute Classic Rock.
Stations
Absolute Radio Absolute Radio 60s Absolute Radio 70s Absolute 80s Absolute Radio 90s Absolute Radio 00s Absolute Classic Rock Absolute Radio Extra
This company is a direct subsidiary of BCCL (not through TIML or ENIL). Times Syndication Service: The syndication division of The Times of India Group, grants reprint rights for text, and other media from the group's publications. Brand Capital: Brand Capital provides funding to growth oriented enterprises for their long term brand building needs.
Largest English newspaper in India by circulation (and the world) Largest Business newspaper in India by circulation (2nd largest English Business daily in the world, behind WSJ) Largest NonEnglish newspapers in Mumbai, Delhi, Bangalore by circulation (Indias three largest cities)
Television
o o
Largest English News TV Channel, No. 2 English Business News TV Channel Largest Bollywood News and Lifestyle TV Channel, No. 2 English Movies TV Channel
Digital
o o o o o o
Largest Indian network based on traffic and revenue (behind Google, Facebook, Yahoo) Operates 30+ digital businesses, most of which are Top 3 in their competitive segment Most popular B2C mobile shortcode in India, across SMS, voice, WAP, and USSD Radio Largest radio network in India by revenue and listenership, with 32 stations Operates the largest rock radio station in the UK
Out-of-home
o o o o o o o o o
Largest Outofhome advertising business in India with presence in all major metros Owns advertising contracts in most major airports in India. Music Movies Syndication Education Financial Services Event Management Specialised publications - including books and multimedia
Other Activities
3.2.
Company Analysis
Opportunity
Huge opportunity in Regional Languages space Increase in readership will enable commanding premium rates.
Value = Benefits Cost. So either BCCL can increase the benefits offered to the customer or reduce the cost of the offering to increase the value to the customers. These strategies not only create value to the customer but also creates value that are not delivered by other competitors. BCCL has been outshining in establishing its competitive advantage in providing value to the customer. They have been adopting numerous strategies for the same. Following are there strategies followed in print media.
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Style, tone, mood (appropriate to content) Credibility/authority Compelling lead/opening Clarity Strong focus/theme what is this story about? Structure and organization Effective anecdotes quotes and examples Narrative and description Accuracy and fairness Creativity/Risk-taking Reader interest
Other Differentiating Strategies: BCCL has tried to differentiate itself from competitors and also tries to make these differentiations as a benefit to the customer. BCCL is creative and innovative and open to changes. When TOI went live, the newspaper changed the width of its paper. Moreover, the Group changed its entire pricing policy, which had not changed in about 10 years. Times of India made its appearance a hit, by the launch of Zoom TV, an entertainment channel, viewing Page 3 gossip and Indian and Western cinema. MOVIES NOW, This too was a worked strategic, as Indians are curious about the happenings in cinema and the world around it, the channel making its hit. TIMES NOW is a Leading 24-hour English News channel. ET Now, the latest addition to business news channels. The advertisements have highlighted the Indian -ness in all the campaigns and reflected how TOI is a part of this great journey of Indian-ness. In their campaigns rather than talk about the newspaper, they try and are the platform or the presenter of ideas that come from the readers own lives, reflect their hopes, aspirations. BCCL also launched an all-color newspaper of color in Indian life as seen on our streets and our cinema and linked it back to the product subtly, rather than a narrow campaign focusing on the product itself. BCCL also places equal focus and importance to every department and function which has made it a professional entity and ensured its place as the most profitable newspaper in the country. The present management of BCCL has been instrumental in changing the outlook of Indian journalism. The Editor of a newspaper has traditionally been considered as the most notable position in a newspaper set up. The Times of India, however, changed this in the early 1990s, in keeping with the management policy of treating the newspaper as just another brand in the market
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In order to build brand image, BCCL adopted a social marketing strategy and projected itself as an agent of social change by launching a series of social campaigns highlighting social issues. According to BCCL, the 'Teach India' campaign created a lot of buzz and within three weeks of the program being launched in July 2008, a total of 88,710 people had responded. Of these, 55,035 applied for the program. In a bid to improve its circulation, BCCL has been concentrating on efforts like introducing colored pages, celebrity articles, and film-related articles. The newness of the masthead on occasions like Diwali, Holi, Christmas, New Year, Budget Day, etc., acts as a refreshing innovation and helps forge an emotive link with the reader segment.
readers and provide the best possible value to advertisers. There are following instances reinforcing the same: A 50:50 joint venture with archrivals Hindustan Times to launch a compact in Delhi. A business cooperation agreement with Mid-Day, whereby BCCL picked up 6.65 per cent stake in Mid-Day Multimedia for Rs 211.1 million
Aggressive promotions and price war: Media penetration varies across socio-economic classes. Though media penetration is poor in lower socio-economic classes, the absolute numbers are much higher for these classes. Hence, efforts to increase the penetration even slightly in these lower socio-economic classes are likely to deliver much higher results, simply due to the higher base.
Source: IRS 2005, Round 2 as quoted in Jagran Prakashan Prospectus filed with SEBI dated February 3rd, 2006 By cutting the cost they have been able to penetrate the market. Other Cost effective strategies: PPI Media integrated with the SAP software, provided TOI with significant competitive advantage in terms of speed, efficiency and turnaround time. Over the years since the implementation, BCCL have had a whole lot of changes with respect to business policies and configuration trying to reduce cost. The BCCL constantly keeps things exciting not just through their contents, but also through their designs and innovations. Everything that they do is also always greatly marketed and backed up by perhaps one of Indias best sales teams, which is always equipped with the best tools and researches. With these efficient tools , BCCL has been successful in keeping costs at bay. They dont have their PR agency. So they communicate through their own media channels ensuring higher dedication and belongingness.
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The BCCL are active on all fronts. They have proven themselves strong legally and to curb competitors in future, they not only challenged, but also sought damages worth Rs 100 crore (about US $ 22 million) from Indian Express Newspapers (Bombay) Limited for making false readership claims.
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B. High quality as a core competencyFrom print to the internet BCCL spans multiple mediums and technologies. But a common thread runs through these disparate businesses: high quality of content. In conjunction with the group's relentless pursuit of innovation, this has catapulted it to the position of Indias largest media conglomerate. Building on its traditional strength in print media, namely newspapers and magazines, BCCL has diversified into new, emerging areas and rapidly emerged as a market leader in each case.
now present in more than ten cities; Times Multimedia which is fast carving out a niche for itself in the world of digitised entertainment with tie-ups with Walt Disney, IBM and the like; and Times Card an entertainment-focused and internationally usable credit card that is co-branded with Citibank and Mastercard. iii. As per Samir Jains ideology, a newspaper should be sold like a bar of soap". His invitation price of Rs 1.50 daily (most papers sold at twice that), which punched rivals where it hurt in 1992, can be traced back in BCCL history books. In 1907, just after the newspaper decided to extend news deadlines to midnight from 5 pm earlier, the management cut the newspaper's price to one anna from four annas (16 annas made a rupee). Circulation rose five times. Samir's decision in 1992 resulted in home subscriptions jumping five-fold, too. BCCLs top executive claims that the company is not in the newspaper business, but in the advertising business. The argument of BCCL is that with newspapers sold so cheaply and generating little circulation revenue, newspapers depend more on ad revenue (90% of total revenue). A spectacular surge in circulation ensued, leaving competitors no option but to follow suit, and justified Bennett's contention that it is a market-driving, not a market-driven organisation. Another major initiative came in the form of 'combo' offers on newspapers. The first step was taken in June 2003 when The Times of India and the Navbharat Times were made available together to consumers at a special price. A similar offer was introduced for a TOI-ET combo as well. Once again, the result was a massive leap in circulation of all the brands involved in the exercise. iv. Its ability to set prices for advertisers comes from its dominance in virtually every product it runs. The Economic Times newspaper, for instance, brings in revenues of over Rs 500 crore for BCCL. In comparison, Mint - ranked No. 2 by audited readership among financial dailies and part of rival HT Media, the publisher of Hindustan Times - makes under Rs 80 crore. v. BCCL, as a group, has been an early mover online and in radio too. A late entry in television has seen it miss out on opportunities that others have captured in general entertainment, but it has clawed its way into electronic media with its channels Times NOW and, more recently, ET NOW and Movies NOW. b. Reputation and Buyer Uncertainty This concept will be useful to elaborate the competitive advantage of advertisement business of BCCL. Quality or effectiveness of advertisements
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cannot be estimated before they are purchased and used because advertisement is an experience product. BCCL has made itself virtually invincible by following innovative strategies: i. Medianet, a vehicle that offered advertising-like rate cards for editorial content in lifestyle supplements of TOI, and Private Treaties that bartered advertising space in return for equity in client companies (typically, start-ups or mid-cap firms) came in for a good deal of flak. ii. Other tactics, which rivals sourly call guerilla ambushes, were discount coupons for classifieds, realigning space selling departments to sharply focus on advertiser interests, "combo offers" both for advertisers and newspaper buyers, and product sampling. In expanding its reach, BCCL has been panned by the intelligentsia on two decisions: "dumbing down" the content of its flagship newspapers to reach to a wider audience and violating Chinese walls between advertising and editorial. c. Network effect Consumers often place higher value on a product if other consumers also use it. This is called network effect and arises from use of complementary goods. BCCL has complementary goods such as hardcopy newspaper, e-paper, indiatimes.com, Timesnow TV etc. BCCL has tactfully integrated the content delivery of these media. It had the early mover advantage and has created a huge network of online and offline users. Now the new users will observe the size of the network and gravitate toward BCCL. B. Impediment to Imitation These isolating mechanisms impede the existing firms and potential entrants from duplicating the resources and capabilities that form the firms advantage. BCCL has following impediments to imitation: a. Superior access to customers BCCL has huge consumer base. It can develop a new product and promote the same through various media in no time. b. Market size and scale economies The Indian entertainment is one of the fastest growing sectors in India. We have a huge opportunity in media penetration and advertisement spends. The size of E&M in India is currently estimated at INR 353 billion and is
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expected to grow at a compounded annual growth rate of 19 % over the next five years. However, not all will have equal opportunity to grab the market share. The larger customer a media company has the more growth it can achieve. The economies of scope increases with increase in number of advertisers where they get high return and in turn help in reduction in cost of the newspaper as the processes utilize the same resources.
Times of India(TOI) is one of the widely read and most popular English newspapers in India. It is also the leading product of BCCL. Its readership has reached 7.653 million as of September 2012. It is circulated in pan India. It has ten different editions that are printed in 32 different cities. From the statistics, it is clear that Times of India outperforms its rival in the industry. Hence TOI is chosen for further detailed analysis.
4.2.
Times of India is clearly an outperformer. This can be seen from various following statistics. List by Indian Readership Survey as on September 30, 2012 Readership(in millions) 7.653 3.786 2.258 1.254 1.051 0.962 0.807 0.753
News paper Times of India Hindustan Times The Hindu The Telegraph Deccan Chronicle DNA Mumbai Mirror Economic Times
City Various cities and states Various cities and states Various cities and states Various cities and states Various cities and states Various cities and states Various cities and states Various cities and states
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English English
0.664 0.653
In terms of page views, The Times of India Online has emerged as the world's No.1 English newspaper website in the year 2009. According to the latest, timesofindia.com had 159 million page views in May 2009. This was way ahead of the New York Times, Sun, Washington Post, Daily Mail and USA Today websites. These figures are from internet marketing research company ComScore which is considered the trusted source of information on website performance. English Newspaper websites Webpage views timesofindia.com 159 million the sun.co.uk 142 million nytimes.com 124 million dailymail.co.uk 73 million washingtonpost.com 61 million The Audit Bureau of Circulation (ABC) certifies circulation of the newspapers. The ABC according to the circulation of the dailies compiles the list of the Top 10 Newspapers in India. They are as follows. 1. The Times of India English 2. Dainik Bhaskar Hindi 3. Dainik Jagran Hindi 4. Malayala Manorama Malayalam 5. The HinduEnglish 6. EenaduTelugu 7. Deccan Chronicle English 8. Ananda Bazar Patrika Bengali 9. Amar Ujala Hindi 10. Hindustan Times English
4.3.
If the print media industry is studied, we can say that the characteristics of print media industry are as follows. Price competition is vigorous in Newspaper industry Newspaper is standardized or readily available from many suppliers There are few ways to achieve differentiation that have value Most buyers use product in same ways Newspaper Buyers incur low switching costs Newspaper Buyers are large and have significant bargaining power
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These are characteristics that can be addressed by a providing a low cost product and Times of India has done just that. Cost leadership is undercutting prices compared to competitors and selling more when there is a price elastic demand or match price and attain higher margins when the market is price inelastic. We can say that the newspaper industry is has medium to high price elastic demand. The evidences of cost leadership strategies followed by TOI are outlined below.
From the Edition and circulation figures, we can see that Times of India is distributed across India in all geographies North, West, South, East. Also in each region it has considerable circulation reaching tier II and III cities as well.
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With these in Mind we can say that Times of India has a Market Scope that Broad. By applying Porters generic competitive strategy framework, we can say confidently that Time of India is positioned in the first quadrant. It is following cost leadership strategy with Broad market scope. This translates to Every strategic decision is aimed at keeping cost as low as possible Efficiency is sought in all areas of operation All functional strategies & capabilities are directed at efficiency Market products aimed at average customer Little or no product frills or differences
4.4.
After 1 year of establishing themselves, they came up with revised subscription plan as shown in table below. Also they increased the price from Rs 1 to Rs 2 for weekdays and Rs 2 to Rs 3 for Sundays. Subscription Package 1 year subscription First 1 year after launch After 1 year of launch Rs 299+free gift (Vacuum Rs 299 without gift flask or travel bag) 6 month subscription Rs 175+ free gift (Vacuum discontinued flask) TOI incurred losses due to this pricing strategy as shown below, yet they concentrated on gaining market share. Price First year Following Year Subscription amount per yr 299 299 Gift Worth 150 Vendor commission per year 360 360 Booking commission per year 80 80 Dealer commission per year 60 60 Rathi 292 292 Total Loss per subscription -643 -493 The Times group has been fighting price wars with other media giants. While doing so, it has attracted criticism from all corners. Some of these are as given below: They have been prompt to respond to market moves and also be a first mover to grab the customers attention. In 1991, TOI had a circulation of around 70,000 in Delhi as against 0.35 million for HT. In 1994, TOI slashed its price from Rs.2.30 to Rs.1.50. By 1998, the difference in circulation figures narrowed down to a few thousand copies. Since 1991, TOI's circulation has increased in percentage terms more than HT. TOI (Ei Shomoy) versus ABP in West Bengal- At present, eight newspapers jostle for existence in this market, with Ananda Bazaar Patrika being the clear leader in terms of advertising and circulation. The others include Bartaman, Pratidin, Aajkaal, Uttar Banga Sambad, Ek Din, Ganashakti and the month-old Ebela. While an ad war with ABP is imminent, especially in its run-up to the launch on the auspicious occasion of Mahalaya (the start of the Durga Puja festival which invites plenty of special ads), Ei Shomoy will take on ABPs fairly high cover price too. At Rs 5 per copy, ABP is the most expensive Bengali newspaper compared to its competitor papers priced between Rs 2-3. Ei Shomoy might be priced even lower, to start with. TOI has also managed a prize catch in the form of veteran Bengali journalist and ex-ABP man Suman Chattopadhyay, who has been roped in as the editor of Ei Shomoy.
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5. CONCLUSION
The competitive advantages built by BCCL has made it the market leader. It has exploited strategies such as economies of scale, economies of scope, pricing, strategic alliances and so on to create value to the customers that its competitors are struggling hard to match. Also BCCL is quick in diversifying into new areas which sustains its already established businesses. These different business units of BCCL complement one another in an effort to sustain its businesses. Also the isolating mechanisms helps BCCL to remain a market leader by sustaining its position.
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6. REFERENCES
http://www.timesgroup.com/bccl/about-us.html http://en.wikipedia.org/wiki/The_Times_Group http://www.nna-ccj.ca/judging/judging-guidlines/ http://www.okpress.com/better-newspaper-contest-events http://thehoot.org/web/TheTimestheJainsandBCCL/6425-1-1-4-true.html http://articles.timesofindia.indiatimes.com/2009-07-12/india/28166748_1_comscorewebsite-newspaper http://mruc.net/images/irs2012q2-topline-findings.pdf http://articles.economictimes.indiatimes.com/2011-10-14/news/30279399_1_onlinetraffic-daily-traffic-newspaper-websites http://www.sap.com/india/about/events/worldtour09/pdf/WT_Mumbai_Track1_04_Superi or%20Consumer%20Experience%20at%20The%20TOI%20for%20Successful%20Competitive %20Advantage%20_Chinmoy%20Roy,%20 http://www.televisionpoint.com/lounge/lounge.php?id=1175493810 http://www.timesgroup.com/bccl/history.html http://www.rareindianshares.info/2010/09/bennett-coleman-and-company-limited.html http://mediacrit.wetpaint.com/page/How+the+Times+of+India+turned+news+into+a+com modity http://businesstoday.intoday.in/story/bennett-coleman-and-co-among-100-year-old-indiancompanies/1/16498.html
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