Free Essay

Times of India

In: Business and Management

Submitted By yogesh355
Words 4715
Pages 19
Table of Content

1. Company Description and Location ……………………………………………………………………………..3

2. Strategic Plan and Focus ……………………………………………………………………………………..……....2

2.1 Mission Statement

2.2 Product Mission Statement

2.3 Corporate Goals

2.4 Core Competency and Sustainable Competitive Advantage

3. Situation Analysis ……………………………………………………………………………….………….…………….5

3.1 SWOT Analysis

3.2 Industry Analysis

3.3 Competitor Analysis

3.4 Company Analysis

4. Marketing Mix ………………………………………………………………………………………………………..…….............9

Product Strategy

Price Strategy

Place Strategy

Promotion Strategy

5. Marketing Product Focus ……………………………………………………………………….…………………….13

Segmentation

Targeting

Positioning

6. Marketing Program …………………….…………………………………………………………………………………16

7. Nivea Marketing Survey…………………………………………………………………………………………………21

8. Conclusion……………………………………………………………………………………………………………………….

9. Resources ………………………………………………………………………………………………….………………….25

Company Description and Location

▪ The Times of India (TOI) is an Indian English-language daily newspaper.

▪ The Times of India is published by the media group Bennett, Coleman & Co. Ltd.

▪ According to Audit Bureau of Circulations, it has the largest circulation among all English-language newspapers in the world, across all formats (broadsheet, tabloid, compact, Berliner and online).

▪ According to the Indian Readership Survey (IRS) 2012, The Times of India is the most widely read English newspaper in India with a readership of 76 (7.643 million).

▪ It is one of the top English daily in India by readership.

▪ This brand has history of around 175 years and came to existent in 3 November 1838 as ‘The Bombay Times and Journal of Commerce’ in Bombay.

▪ The daily editions of the paper were started from 1850 and in 1861, the Bombay Times was renamed as ‘The Times of India’ after amalgamation of three more newspapers.

▪ After India's independence the ownership of the paper passed on to the then famous industrial family of Dalmiyas and later it was taken over by Sahu Shanti Prasad Jain of the Kunal Jain group from Bijnore, UP.

▪ .The Times of India was launched 175 years back with its head office at Mumbai India. Mrs. Indu Jain is current chairman and Mr. Vineet Jain is Managing Director of the Times Group (BCCL).

▪ Name: The Times Of India

▪ Logo:

▪ Two elephant- strength

▪ Crown-Royalty

▪ Visual Identity: The Name The Times of India itself world famous.

▪ Slogan- LET TRUTH PREVAIL

Strategic Plan and Focus

The following five sections describe in detail the corporate strategy used in designing this marketing plan (1) the corporate mission statement, 920 the product mission statement, (3) the corporate goals, (4) the corporate values , and (5) the core competencies and competitive advantages.

Mission Statement of Times of India

“Create & build brands with differentiated content to capture relevant audiences and market the value of these to advertisers to help them sell and strengthen their brands.”

Corporate Goals

• Continue to develop innovative products in accordance with our mission statement, adding three products each year.

The Times of India is now making out an aggressive growth program which will concentrate on tie-ups with contract manufacturing enterprises meant to boost its production capacity in India.

Core Competency and Sustainable Competitive Advantage

• A strongly dedicated and innovative product development team.

• Largest infrastructure for advertising and circulation sales.

• A strong sales team.

• Dedicated employees.

• Strong business strategies.

• The Times of India has wide range of brands in different regional languages which cover large range of audiences or readers.

• Today TOI is India’s national newspaper with editions spread across most states, which is

complemented by its robust presence in on-line domain too through its e-paper.

The Times Of India launches several products as follows-

• 1950: Delhi edition is launched with K. Gopalswami as the first Indian editor.

• 1961: The Economic Times is launched.

• 1986: "MASTERMIND", the Times of India Group consolidated and interlinked newspaper rate card is launched. 'Times of India and Navbharat Times, Patna edition started.

• 1987: "Saturday Times" is launched in color in February at the first ever Times of India Group Management conference in Goa..

• 1993: BCCL starts production of television software.

• 1998: BCCL enters into music market with Times Music.

• 1999: Indiatimes web portal launched; BCCL enters music retailing business with

Planet M.

• 2001: Radio Mirchi - Nationwide Private FM Broadcasting.

• 2003: Times Classifieds - Classifieds site catering to web audiences, the group publications and also publications from other countries like Sri Lanka.

• 2004: Launch of the Jobs portal Times Jobs. Television Business launched with the launch of a lifestyle and entertainment channel called z00m.

• 2005: Launch of a Matrimonials website TimesMatri. Launch of compact newspaper Mumbai Mirror.

• 2006: Acquisition of Vijay Karnataka kannada daily newspaper in Karnataka, India

▪ 2008:Launch of Times of India - Chennai Edition, Goa, along with Goa Mirror. However, the Goa edition has relatively less coverage of happenings in Goa.

• 2010: Launch of Vijayanext Kannada Weekly magazine

• 2011: Launch of The Times of India, Coimbatore and Madurai/Trichy Editions

• 2012:Launch of The Times of India, Kerala, Visakhapatnam and Raipur(Chhattisgarh) Edition

• 2013: Launch of The Times Of India, Kolhapur Edition.

• Newspapers products:

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• Apart from meeting the information and entertainment needs of readers cutting across communities, cultures and geographic locations, The Times of India also uncovers many a India left untouched.

• And in this exercise, brand extensions of our existing English titles into regional languages plays a pivotal role in transiting readers to the English mainstream.

• In 1994 The Times of India took a bold step at experimenting with not just news, but something which was more. The resultant was a supplement –Bombay Times,Ascent,Times pluses, Education times which broke the mould when it came to capturing the latest about what’s happening in and around the city in a package captured the essence of the city – its people, culture, fashion, art, theatre, sports, education,jobs,films and private and public social gatherings.

Times Supliments:-

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Situational Analysis: Assessing the market

SWOT and competitive analysis – to assess where the business or brand is currently and

what competitors are doing?

|STRENGHTS |WEAKNESSES |
| | |
|World’s largest newspaper brand and strong brand image. |Some people have the perception that TOI publishing more celebrity / |
|Easy Brand Recall useful in a competitive market with numerous |entertainment news. |
|dailies; high brand loyalty. | |
|Weekly paper called Ascent is widely regarded as excellent platform |Tough competition means limited scope for increasing market share. |
|and also a must read for potential recruiters and job seekers. | |
|Has got a city-wise edition publication for major Indian cities. |Very less distribution channel in rural and small cities in India. |
|Campaigns like Teach India, lead india and other events/initiatives | |
|are beneficial for the brand. |Dependency on imported newsprints. |
|Times of India-widely circulated daily newspaper. | |
|A strongly dedicated and innovative product development team. |Short shelf life of product. |
|Largest infrastructure for advertising and circulation sales. | |
|Very good newspaper printing quality. |Has a limited presence in Southern India as compared to the rest of |
|Daily supplementary section-city specific. |India. |
| |Old news. |
| | |
| |Less information about stock market. |
| | |
| |Late circulation in small cities. |
| | |
| |Lack in covering useful news for competitive student. |
| | |
| | |
| | |
| | |
|OPPORTUNITIES |THREATS |
| | |
|Expanding organized distribution channels in small cities and rural |Tough competitions from competitors . |
|areas. | |
| |Competitors-Hindustan times, The Hindu, DNA, Deccan chronicle. |
|Has a limited presence in Southern India as compared to the rest of | |
|India. |Regional newspapers. |
| | |
|Huge opportunity in Regional Languages space. |Changing economic conditions because increasing rate of dollar as |
| |compared to rupee means increase in production cost. |
|Better usage and interaction with online and mobile mediums. | |
| |Increasing digital media growth. |
|Develop Local newsprint vendors(or suppliers) to reduce printing cost | |
|of newspaper. | |
| | |
|Increasing literacy means more readers. | |
| | |
|Personalized newspaper editions. | |
| | |
|Value addition | |
| | |
|Digital space media. | |
| | |
| | |
| | |
| | |
| | |

SFU Association

|Strong |Favourable |Unique |
|High Quality |High And Consistent Quality |A Universal Acceptance |
|Reliability |World Known Brand |Special Product Range |
|News , entertainment contents |Satisfying Multiple Needs | |

INDUSTRY ANALYSIS

India has emerged as the second largest newspaper market in the world by buying 99 million newspapers daily, according to World Association of Newspapers (WAN). China leads the pack with highest (107 million) number of dailies sold every day. The Indian newspaper market is projected to grow from Rs. 56,300 Crore To 92,300 Crore by the end of 2013, as per the research done by pricewater house cooper.

According to WAN, newspaper sales in the Indian market have increased by 11.2% in 2007 and by 35.51% in the last five year period. Although the newspaper advertising revenues in India witnessed a marginal decline of 1.42 last year but is up by 64.8% when you take into account the last five years. According to WAN, paid for newspaper circulations world-wide rose 2.57% in 2007 and increased by 9.39 % over the past five years.

Increased literacy is one reason for the rise in newspaper readership in India - not just in English language titles but in regional languages. Almost one-third of India's 579 million literate population is said to read a newspaper now, according to KPMG analysis.

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According to the Indian readership survey for the fourth quarter the average issue readership (AIR) of the top 10 publications and top 10 english dailies as belows-.

[pic]

The 2012 Indian Readership Survey findings shows that the largest read local language newspapers to be Dainik Jagran and Dainik Bhaskar both published in Hindi. Malayala Manorama newspaper which is published in Malayalam most read newspaper in other languages. The Times of India is the most widely read English language newspaper in India.

The Hindustan Times, The Hindu, The Telegraph, DNA are competitors to Times of India in Indian market. Following table shows 2012 Indian Readership Survey for top 10 english dailies in India .

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By WAN survey, Times of India is one of largest English daily circulated newspaper in the world. Following bar chart shows dominancy of TOI.[pic]

According to a PWC forecast, the Indian newspaper market will be the only one which will grow by double digits cagr (10%) by 2017. While it is a long road ahead for digital media in India. Revenues from newspapers are still far higher than revenues from the Internet. The former leads the Indian advertising revenue with 39% of market share as compared to 7 % advertising share commanded by digital.

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From above fig. we get information about consumer behavior. Normally consumers are less sensitive to price of newspaper products. In India still there is less impact of digitization and they prefer hard copy of newspaper. Also it is found that peoples are strongly believing on the Times of India brand.

From above fig. it is clear that Times group has market share in advertising in English daily is about 39% and In Indian language it is 5%. There is huge scope in english as well as Indian language newspaper market.

COMPETITOR ANALYSIS

• Dainik Jagran is a daily Hindi broadsheet newspaper in India. According to the IRS Q2 2012, Dainik Jagran ranks No. 1 among all Indian publications with an Average Issue Readership (AIR) of 16.429 million.

• The Indian Readership Survey (IRS) 2012 revealed that HT has a readership of (37.67 lakhs), placing it as the second most widely read English newspaper in India after The Times of India. It has a wide reach in northern India, with simultaneous editions from New Delhi, Mumbai, Kolkata, Lucknow, Patna, Ranchi, Bhopal and Chandigarh

• The Hindu is an English-language Indian daily newspaper. According to the Indian Readership Survey in 2012, it was the third most widely read English newspaper in India (after the Times of India and Hindustan Times), with a readership of 2.2 million people. The Hindu has its largest base of circulation in southern India, especially in the states of Tamil Nadu and Kerala, and it is also the most widely read English daily in Tamil Nadu and Kerala.

• Daily News and Analysis (DNA) is an Indian broadsheet launched in 2005 and published in English from Mumbai, Ahmedabad, Pune, Jaipur, Bangalore and Indore in India. It is the first English broadsheet daily in India to introduce an all-colour page format. It targets a young readership and is owned and managed by Diligent Media Corporation. A high-profile advertising campaign with the tagline, "Speak up, it’s in your DNA", preceded the birth of Daily News and Analysis in 2005. It registering 86 percent growth in average per-issue readership over the five years since the IRS survey in the second half of 2006, nearly doubling the issue readership from 4.44 lakh. It also has the highest percentage of readers (36.3 percent) in the 30-49 age group in Mumbai among the English dailies, and the second highest percentage of readers who are graduates (52.2 percent) or fall in the socio-economic classes A and B.

Company Analysis

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Marketing Mix

The Times of India is an established name in newspaper products. A carefully planned marketing mix plan can help launch and re-launch a product.

Five ‘P' theory would give better outcome of Marketing strategy. Five ‘P' stands for product, price, promotion, place, and people.

Product:

• Newspaper is media of communication between people and society. It has to have transparency and trustworthiness.

• Improvement- Innovative products like fragrant newspaper, half flap, perforated, plow fold, glue etc.

• Consistency in quality of newspaper,

• Personalized newspapers,

• 3D printing,

• Ecofriendly newspaper,

• Coloured (pink, yellow) newspaper.

Price:

• Newspaper which should be easily accessible to common people that is why its cost as to be affordable.

• Effective pricing strategies-The Times weekdays edition are 3 Rs each and Sunday Times 5 Rs.

Promotion:

• Along with news section it has entertainment section init. Like sports, life and style, travel, driving, media, art and entertainment.

• Times have important news section for business and money. Free CD Rom with Sunday Times.

• Combo offer for both newspaper buyer and advertiser.

• TOI come up at lower subscription rate at 250Rs per year.

• Internet marketing- come up with own web portals to advertise their product through banner ads.

• TOI previous advertisement emphasized functionality of newspaper.

• While now emotional platform where newspaper is being projected something that of chronicle aspirations of Indians.eg. 100Rs advertisement, Go india ads, Hockey advertisement.

• Public relation-It can use own TV channels, Radios, music, Magazines, Regional newspapers for promotion of product.

• Out of home promotion – They have to cover most of consumer touch points in city.

• Viral marketing- Through word of mouth the information about price cut for 1 year subscription has spread out well.

• Sponsorship- Sponser Mega trade fair on corporate gifts, stationary and writing instrument for specific periods.

• Discount coupons for classifieds.

• Company followed World War II strategy called pincer movement strategy.

- Edittorial value addition. Eg. TOI on mobile.

-Audacious pricing .

• Product sampling.

• High brand equity of its key daily publications.

• Realigning space selling dept. To sharply focus on advertisers interest.

• Campaigns like lead India, Teach India, Power of idea, Corruption free India.

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Place:

• Newspaper reaches to every part of the community.

• It is very accessible and economic media for common person.

• People would show interest only if they are involving local news too.

• Times have different regional editions which contain their local affairs.

• With well developed machinery it is quite easy to print different editions for different region.

• Strong organised distribution channels. [pic]

People:

• Same as place in different region people have different interest, culture, so have different likes and dislikes.

• Product has to match local people's mentality.

Marketing Product Focus

|Segment |General news segment |
|Target Group |English speaking/reading audience in India |
|Positioning |Most widely circulated newspaper. |

Primary Survey Data

We conducted survey to find out which brand of moisturizer people are using. We took sample of 55 people. To get the real essence of the moisturizer market as a whole and Nivea precisely, we planned for two surveys, which helped in getting good insight. Main objective of the survey was to find perception of people about different brand of moisturizer, what they expect from moisturizer, what factors influence their purchase decision and many related terms.

Frequency of Readding

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Out of 55 people 16 people said that they read news paper on daily basis. 8 people said that they read news paper thrice a week. 8 people said that they read a new paper 6 times a week.

1. Brand Recall

34% people think of Only Times of India when it comes to reading news paper. It means 34% of the people like to read Only Times of India news paper.

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TV Commercial

Only 1

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Following are the findings of survey.

1. Most preferred brand of Moisturizer

2. Purchase frequency.

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3. Most of the people perceive Nivea as Soft, Caring and Fresh. The following statistics indicate that Nivea is well perceived as ‘Skin Care’ brand among many people.

[pic]

4. Following statistical pie chart indicate that more than 60% of people are able to recall the advertisement of Nivea. But at the same time, there are more than 30% of the people who are not able to recall the advertisement of Nivea (especially for Moisturizer).[pic]

MARKETING PROGRAM: PROMOTIONS

• 1986: "MASTERMIND", the Times of India Group consolidated and interlinked newspaper rate card is launched. 'Times of India and Navbharat Times, Patna edition started.

Times of India: social campaign

• Aman ki Asha is a campaign jointly started by the two leading media houses The Jang Group in Pakistan and The Times of India in India. The campaign aims for mutual peace and development of the diplomatic and cultural relations between the two nations in South Asia. It started on 1 January 2010.

• Lead India is a television initiative launched on India's 60th Independence Day by The Times of India Group in search of a new bold leader for India. Citizens of India aged between 25 and 45 can participate in the three-stage contest.

• A time of India group has been getting serious about large-scale national level social change efforts. Their strategy has been to use the group’s media muscle to create buzz around these efforts to encourage public involvement and participation. However, they just launched a new effort called Teach India, aimed at impacting the education sector in India. Here is what the website has to say about the initiative: Teach India is a nation-building initiative (or social initiative) from the Times of India that brings together children in need of education and people who can contribute a little time towards teaching them.

• The Times of India is taking a step forward by starting an initiative called Mumbai for Women which highlights the city’s duty towards women. The Times of India is also focusing on news stories in their special column called Mumbai for Women in their main supplement that takes up various issues faced by women in the city.

• Guard Your Angel: Meri Beti Meri Duty” is an initiative by The Times of India and MSD Pharmaceuticals Ltd. which urges women to protect themselves and their daughters against cervical cancer – a disease that kills one woman every seven minutes in the country. Cervical Cancer is a bigger threat to life than breast cancer in India. This campaign is focused towards the mother - daughter relationship where she guards her daughter from this disease through regular checkups & vaccination.

• Also It launched compaign Power of Idea in Economic Times.

• The Times of India launches an initiative "Bangalore for Women" on 17.3.2013.

• To attract the target group in Chennai , door to door marketing making people join as founder member of that regional edition at lower subscription rate lower than Rs.1(299 Rs. for 1 year). So their target is household subscriber of competitor newspaper (eg. Hindu,HT,DNA).

• Also TOI Given advertisement on Television to establish brand in south India.

What is a marketing plan?

A business needs to set its overall direction for the company through a business plan. This plan sets out how the company is to achieve its aims. The aims and objectives of a business inform and shape its business plan. A vital part of the overall business plan is the marketing plan. The relationship between the two plans is shown in the diagram. Marketing involves identifying, anticipating and satisfying customer needs. A marketing plan takes the stated aims and objectives and then puts in place a series of marketing activities to ensure those objectives are achieved. Marketing plans can cover any time period, but normally set out activities for the next one to five years at either a business or brand level.

Setting objectives

A successful marketing plan relies on setting clear and relevant objectives. These must relate directly to the business’ overall aims and objectives. In other words, the marketing plan must fit with the overall company strategy that is set out in the business plan.

The Goal of Times Of India is –

‘We are a global company with cosmic consciousness, served from India, aggregating audiences to network media brands transiting through print.’

Times of India believe that ‘we are in the business for share of profit rather than for share of voice. We are marketing led organization rather than editorial led.’ TOI is not a paper of record but an information provider. We don’t address voters but consumers.

We wanted to increase its Indian market share for Times of India. In other words, we wanted not just a greater share of the existing market; but wanted to expand that market. Our plan tom reach to

English speaking/reading audience in India. The Times of India brand has always stood for good quality products that are reliable, user-friendly and good value for money. The brand’s core values are security, trust, closeness and credibility. These values would be strengthened and expanded on with the re-launch, to get more men and women to think of Times of India as first choice for Newspaper.

Marketing strategies

Our team devised marketing strategies to deliver its objectives. These strategies set out how the objectives would be achieved within the designated budget set by the management team. This focus on product development combined with an emphasis on consumer needs is a key differentiator for Times of India.

The marketing strategies for The Times of India are

1. To improve quality of product and extend variety of product range.

2. To lauch new editions in regional languages and online newspaper i.e. epaper or mobile paper and increase readership and circulation of newspaper.

3. To increase the advertising and sales revenue.

4. Better advertisement through TV, Radio, Internet and social compaign.

5. Another cornerstone of the India marketing strategy was promotion.

We sought to build on and develop the approach it had used in the past. Company tried to attract advertiser by giving discount coupons for classifieds. Company followed World War II strategy called pincer movement strategy at time of launching Chennai edition. i.e. Editorial value addition. Eg. TOI on mobile and audacious pricing. Low pricing strategy is helped lot to the company to build brand and to increase circulation of newspaper. Social campaigns helped to build good image of company in society. This helps reinforce an emotional connection between the brand and the consumers.

It is important to get the promotional balance right. Combo offers with regional language newspaper. Combo offer for both newspaper buyer and advertiser. TOI come up at lower subscription rate at 250Rs per year. It also allowed the brand to build and maintain a consistent dialogue with men, which helps to drive sales. Also Times of India in collaboration with HDFC launched the Times Card.

Promotions will be used to attract new customers. These promotions will help build up brand awareness and consumer familiarity which reinforce the Times of India brand presence.

Times of India has other brands like Economic Times, Mumbai mirror, Maharashtra Times, Filmfare etc. so as cover needs of all classes of consumer. The price of one copy TOI newspaper is 3 Rs which competitive price as compared to HT, The Hindu,DNA.

TIMES OF INDIA MARKETING SURVEY

Purpose: This survey will help us find the link and relations between user newspaper preferences sale.

Authority: This information is collected under the authority of the K.J. Somaiya Institute of Management Studies & Research.

Confidentiality:

1. Your answers are confidential.

2. Information from this survey will be used for statistical purposes only and will be published in aggregate form only.

Reporting Instructions:

1. Please report purchase of all commodities (goods and services) sold by the business units.

2. Please report all money amounts in Indian Rupees.

3. INR amounts should be rounded to whole numbers.

4. When unsure of a choice, please provide your best estimates.

5. Please enter data true to best of your knowledge.

6. Please return the completed copy.

* Required

NAME:

AGE:

SEX:

1. Which Brand(s) comes to your mind when you think of Newspaper? *

2. What do you love to read in news paper?

o Editorial

o Content

o Local news

o Sport news

o Advertisement

3. What is your preferable media for gathering news & information?

o TV

o Radio

o Online

o Newspaper

4. You read news paper because

o In depth news

o User friendly

o Habitual

o Creditability

5. What do you expect from News Paper?

o Honesty

o Local content

o Trust

o Entertainment

6. Are you satisfied with quality & content of news paper?

o Extremely satisfied

o Satisfied

o Neutral

o Dissatisfied

o Extremely dissatisfied

7. Would you like to continue with same news paper if price increases?

o Yes

o No

o Can’t say

8. Do you remember the TV commercial of Times of India? *

o Yes

o No

9. Will you prefer going for a combo pack of Times of India products? *

o Times of India +Economic Times

o Times of India +Mumbai Mirror

o Times of India+ Maharashtra Times

o Times of India

o Other: _____________________________

CONCLUSION

There is phenomenal increase in the readership of news paper due to difference subscription schemes offered by the both English as well as regional news papers & substantial improvement in the literacy rate. Developing customer loyalty & retaining readership can be huge challenge for the managers of publishing business. The problem become more serious because of variety of choices the reader may have today. It could be easy to change the readership to change the readership temporarily but to sustain that change in long run can be very difficult. Therefore professionals busy in publishing industry must create something special & innovative & material of substance to impress upon the reader that something special for them is inside the news paper. The expert of publishing industry must understand that putting the old wine into new bottle will not do, they have to come out with some creative product designed & positioned properly that may help them building brand loyalty & retaining the readers for longer time . Lastly but very significantly the image is the mantra of success. All the Newspaper brands should concentrate on developing their image by focusing on the changing needs of customers. They should address the needs of consumer to strengthen their loyalty & widen readership base.

References

1. www.times of india.com

2. www.wikipedia.com

3. ABC Survey

4. IRS Survey

5. The financial express

6. www.yahoo.com

7. www.thehindu.com

8. You tube

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The Times of India is one of the biggest newspaper brand in the world . Brand The Times of india has a special place in the minds of advertiser and peoples especially in metro cities of India with needs of readers cutting the information and entertainment across communities, cultures and geographic locations last 175 years of its existence here. As a part of its overall growth strategy the heritage brand has invested huge sums of money to maintain leadership in the media and entertainment business for lagre section for peoples in India..

It would not be wrong to say that most English-speaking Indians across all prominent metros and state capitals begin their day by reading a copy of TOI. So be it the civil society or the ruling class, businessman or student, executive or manager, professional or amateur, clergy or judge – the day is not complete without reading The Times of India.

Almost any consumer we talked to and we asked them what do you know about Times of India, and they feel good and shows great respect towords this brand and show hard copy of it. In India it s enjoyed a very strong postion and trust and something that is really they as a company are leveraging.

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