Abstract on Marketing Intelligence System for a Media Company

Marketing newsworthiness infobase Management at Manipal Media Network Limited A project by * Abhishek Gupta * Aishwarya Shetty * Nikhil Modi * Nikita Patel * Pritish Prabhu * Rahul Dara * Reshma R * Rishi Gupta * Sudip putz * Vaibhav Goswami OVERVIEW OF MMNL Manipal Media Network Limited is a subsidiary of Manipal Group which supererogatoryizes in impression and publications. Udayavani, the flagship publication of the MMNL is a leading daily Kannada countersignpaper. Its subscriptions reach most cities of Karnataka including Mangalore, Bangalore and Gulbarga.Its primary come on was in 1971 and it continues to grow daily reaching more than 300,000 houses. handicraft STRATEGY MMNL has always tried to maintain the values of its shargonholders and guests once against its competition. MMNL strives to be a Multi-media Corporation, making its presence felt across several platforms including print, e-papers among separates delivering local untrieds and pleasure solutions. IT S TRATEGY The dodge of the IT group of MMNL is consistently get holded with the boilersuit strategy of the friendship.This is done by the higher management who believe that IT plays an underlying part in proving a belligerent advantage. The IT team has tind MMNL with mixed solutions up of its time such as iTunes inaugural Kannada Application, the first Kannada word android App and has projected into partnerships with media leaders such as hayseed and Newshunt. The IT team has also ensured that MMNL is a leader in delivering in the altogethers on online platforms such as Android, IOS and Web. along with this, it has develop internal MIS forms and also worked hand in hand with companies handle 4CPlus for successful ERP instruction executions in numerous beas.By implementing Market Intelligence Database System which testament overhaul us in storing the entropy in a integrated format and providing management with quality knowledge which depart give them a better insi ght for efficient decision making. Strategic Alignment ideal * Alignment of duty and IT strategy * The over solely moving in strategy of MMNL is to be a multi media corporation with presence across platforms delivering hyper local news and entertainment solutions. The IT team works in alignment with this overall strategy and strives to provide cutting edge technology solutions that are ahead in time, besides sustentationing the cost aspect in perspective. Some of the results of their effort is ITunes first Kannada App, First Kannada News App on Android, Partnership with global leaders wish Yahoo and Newshunt. Since many readers today prepare access to internet and cast a lot of time on it, the industry feels that there top executive be a shift from traditional newspaper to online platforms. * However, this should take a decades time or so. MMNL being a leader in coastal in Karnataka sees this as an opportunity to be leader on online platforms as well like Android, IOS, We b. Alignment of business and IT capabilities * In ordination to align the business capabilities with IT capabilities, we have provided a suggestion to use IT capabilities in order to improve business processes and use IT tools to promote customer loyalty. The market fundamenting comprehension placement proposed by us is a step towards accomplishing this objective. * Alignment of business strategy and business capabilities * In order to align the business strategy with business capabilities, social architecture tools stern be formulated.The existing resources and capabilities should be fully utilized in order to implement the business strategy. * information and motivating the work array and incentivizing the workforce on successful completion of strategic objectives and goals are the means towards achieving it. * Alignment of IT strategy and IT capabilities * When it comes to internal strategy, the IT team has developed internal MIS dodging and also engaged with an external agency for ERP performance which has been done successfully in many areas.This proves that the current IT capabilities are instead robust and grass be further utilized to drive business growth. * Alignment of IT strategy and capabilities can be achieved by having a cross-functional team of managers with expertise is IT knowledge and business knowledge so as to supplement the full potential of its IT capabilities. COMPETITION The major competitors to Udayavani are Prajavani, Vijay Karnataka, Kannada Prabha, Sanjevani among others. This leads to major violence being placed on gather and use of market news program as the competition is cut throat.MARKET INTELLIGENCE Marketing Intelligence includes general information relevant to a company, collate and analyze the obtained information for sequent decision making in determining market opportunities, risks and strategies. The system is to be designed for usage by the management of the company and can be viewed by all the employe es of the company. This specifically en equal to(p)s the management to see current key performance factors in real time and analyze trends, rather than keep for analysts to deliver periodic reports.Market Intelligence is a subset of Business Intelligence which is a set of methodologies, processes, architectures, and technologies that transform raw entropy into meaningful and useful information. schooling GATHERING Market related info reaches the company by various sources. The lower level of the organisation consists of executives and trainees who visit distributors on a daily basis. The sources of information could be by a company employees or special agents and the mode of information is mainly by dint of phone calls, SMS, email or through other market sources.The bulk of the information is however garner by these lower level executives from the distributors and hawkers usually during the early hours of the morning. The information consists of competitors strategies with respect to * advertizing space, * Insertions of pamphlets, * Change of content in existing publications (page design) * Emergence of new newspapers (VRL publication) * Distributors margins * Expansion by competitors in new territories * Subscription rateManipal play of Communication conducts p.a. market research on behalf of MMNL which gives them insight into the new trends and expectations from customers and distributors. STORAGE OF entropy MMNL presently maintains individual excel sheets for each of its competitors. The assistant managers are tasked with collating and stack away the information given to them by the executives. This data is maintained according to * picture and division * Edition * Geographic area and edition * Source of information and context * Findings * Employee entering data and * Employee validating the dataThe data is validated through multiple sources in divergent regions and also through cross verification. lesson Data collected in Mangalore lea ve behind be cross examine with similar repeating data from Udupi and Manipal. Due to such disparate sources, data comes in various formats, due to which collation of data is very troublesome. Also, it is difficult to comprehend this data and bringing it into a common platform whitethorn distort it. Since information is non properly structured, it may get depraved while sharing between various departments and its interpretation could be different by different people.PROBLEM The conundrum face up by MMNL is on triad levels. 1. Lack of structure- Data reaching the company is unstructured and in fall apart form. It makes the data difficult to comprehend. Since data is of strategic importance, it could have high dissemble on companys future strategy or decision. 2. shipping of data The data leakage during the transfer of data is the biggest problem approach by MMNL. The executives at the lower level who pass the data to the managerial level use their discretion and pass th e data what they feel is key instead of all the data gathered.This leads to loss of data which may figure out to be important. 3. Accessibility MMNL has data of the past 8-9 years which is stored using excel sheets. A separate excel sheet is maintained for all(prenominal) company. Whenever the company has to check some data it has to go through all the files which is a cumbersome process. 4. Acceptance When a new system is implement people may not be ready to accept it. They may be anxious more or less what the change may lead to. RECOMMENDATIONS some options that are present to address the issue of data leakage faced by MMNL are 1.Toll-free number The company can acquire a toll free number on which the executives testament call and/or SMS the data which ordain be recorded through an automated system. If this is implement the executives leave alone not have to take extra efforts to pass on the data to their managers which in turn it go forth minimize any data leakage. The costs associated are * BSNL make up is Rs. 1. 60/ subtile. * Initial Cost Rs. 13000 (Rs. ten thousand refundable) * Fixed monthly cost Rs. 1000 * Tata Cost is Rs. 2. 39/minute * Initial Cost Rs. 30000 (Rs. 25000 refundable) Fixed monthly cost Rs. 3000 * Reliance Cost is Rs. 2. 20/minute * Initial Cost Rs 13000 (Rs. 10000 refundable) * Fixed monthly cost Depends on usage 2. Incentives Keeping the existing system of personally reporting the data to managers in place, incentives can be provided periodically base on quantity and quality of data. This will ensure that executives are back up to pass on every piece of available information. If the toll-free system is implemented by MMNL thence it can provide incentives to executives who report the data.The problem of unreliable data will not wax as the data will be validated from sources in different regions. 3. Training and discipline MMNL can perform training and development programs which are imperative to stray the sta ff in accordance with the companys strategy. A companys sales force is very crucial for the perception gathering activity as they can provide excellent data close to the current trends in the market. They are also a very probable source for acquiring confidential data about competitors, consumers, suppliers etc.For sales force outside Manipal and Udupi, a trainer can be made to voyage different parts of the country. 4. Network Externally In order to keep a tab on its competitors, measures should be taken to cartroad how competitors are performing. For this, purchasing the competitors products, checking their advertising campaigns, the press media coverage, reading their published reports, etc can be done. This process is called Competitive news program which is the broader discipline of researching, analyzing and formulating data and information from the built-in competitive environment of any organization. . Collect Competitive Intelligence through customer feedback Custom er feedback is an important aspect for any company as it is the customer who purchases the product. Online platforms like chat rooms, blogs, discussion forums, customer review boards etc can be used to generate customer feedback. This enables the company to understand its customers view about the product. For this, a structured system can be applied by the company to obtain the relevant data. Manipal Institute of Communications does yearly surveys to find out changing customer perceptions regarding MMNL. . For the issue of accessibility MMNL can implement a database. * The centralised database will be in the by-line format * The basic cost for a database system is around Rs. 1. 5 lakhs but depending on the different features needed by MMNL the cost can vary. * The database form can be opened at any time by the employees. A static link will be provided. * Our centralized database system will be decided into 2 main categories * Internal Data * External Data * Internal Data * The empl oyees can enter the intelligence acquired on internal matters in this section. The data entered here will be like delivery problems, supply ambit problems etc. * There will be a form request them what are the issues and the department it relates to. * External Data * This section will again be divided into 2 parts * Competitor data * Advertising Data * Competitor Data * In this form the employee will have to enter intelligence pertaining to * Name of the company * News Acquired * Source of News * Advertising Data * In this form the employee will have to enter intelligence pertaining to * Name of the company * News Acquired Source of News * The database will also have a verification code. * Every employee will be given a unique code which he has to enter sooner submitting the intelligence data. * This will secure the database and will also eliminate the hazard of anyone entering data wrongly under the name of any other person. * The problem of acceptance can be addressed in the fo llowing manner a) Involvement of employees (i) Executives Involving them in regards to the various incentives on offer will jockstrap reduce the anxiety to change this will also help in building loyalty. ii) Employees The employees can be involved through inputs about the functions needed by them in the database system. b) Workshops MMNL can conduct workshops in the initial months after the implementation of the database system and the toll free number. * Representation through GRIDS QUICK WIN SUSTAINABILITY RISK IMPLEMENTATION RISK DUMB mood NEW SYSTEM at MMNL SIZE OF OPPORTUNITY ABILITY TO melt down (PG. NO. 34, CHAPTER 1,CORPORATE INFORMATION & STRATEGY MANAGEMENT) MMNL has a very good track record in implementation of new technological systems.Whenever the company has implemented a new technology system the implementation took place glitch free. The company has implemented Kannada news app on android and also it has tie-ups with Yahoo and Newshunt. The company is also in th e process of implementing an Enterprise Resource supplying (ERP) system. The implementation of this is going smoothly. This leads us to believe that ability to execute a new system will be high at MMNL and therefore the new system will fall in sustainability risk. But, whenever a new IT system is implemented there is always an implementation risk ecause there might be social and technological problems. Social problems which can arise are that employees may be anxious about the new system. They may be anxious about the fact whether they will be able to use that system properly or not and if not then will they be fired from their jobs. Technological problems that may arise are compatibility problems with the legacy systems and maintenance problems. Thus, we pronounce that the new system will be in the implementation risk of the strategic grid. PROBABLE IMPACT ON STRATEGY PROBABLE IMPACT ON BUSINESS OPERATIONSCurrent position plant after implementation (pg. no. 37,chapter 1,Corpora te Information & Strategy Management) The marketing intelligence gathered from various sources is currently passed around in the office informally through Word of Mouth and excel sheets. This leads to the data being fragmented, anomic and getting distorted. As a result of this it is not accessible to everyone and does not provide the correct point of view. Due to this lack of accessibility, management is not able to take any timely strategic decisions.This also does not help the company much in its business operations. We can say that current system of MMNL is in the SUPPORT quadrant of the McFarlans Grid. This is because the system does not impact the business operations as well as its strategic decisions. After the Marketing Intelligence database system is implemented, the data will be stored in one centralized location. This will help in easy accessibility of the data. The company officials can then access this data at anytime and use it to take strategic decisions.Since the da ta is about competitors and the market which will help in taking important strategic decisions. The implementation of the system will not lead to any change in the business operations of the company. Thus, the system, once implemented should move from the current place upright position to the TURNAROUND quadrant of the McFarlans Grid. * BENEFITS FROM DATABASE Implementation of Market Intelligence Database System at MMNL will not lead to any visible benefits as the decisions taken by management on the market intelligence acquired cannot be known at the moment.The implementation of the system at MMNL will only lead to intangible benefits. The benefits that arise will be 1. The data will all be present in one place which will help the management to take better decisions. 2. The company employees will save a lot of time if the data is present in one place with options of search. 3. It will give company a competitive advantage as very few media networks have such a system present at th e moment. 4. The storage of data will help the company in making a wide database which can be used for analytics in the future.