Professional Documents
Culture Documents
Table of Contents
Chapter 1: Introduction...................................................................................................... 2
Overview of industry as a whole.............................................................................3
SWOT analysis of the organization........................................................................14
Competition information............................................................................................ 21
Chapter 2: Literature Review............................................................................................ 25
Chapter 3: Research Methodology...................................................................................... 29
Advantages........................................................................................................... 43
Disadvantages....................................................................................................... 43
Design................................................................................................................... 45
Advantages........................................................................................................... 45
Disadvantages................................................................................................ 45
1. Goal or Aim of the Research....................................................................................46
2. Usage................................................................................................................ 46
3. Data Gathering Instrument...................................................................................... 47
4. Type of Data....................................................................................................... 47
5. Approach........................................................................................................... 47
Page 1
Chapter 1: Introduction
Page 2
distribution network and provision of internet services. They are providing cable television
services in the National Capital Region of Delhi and the states of Uttar Pradesh, Rajasthan,
Maharashtra, Gujarat, Karnataka, Haryana, Madhya Pradesh and Kerala. The company's digital
cable offering, with their feature-rich user interface and a portfolio of cutting edge value added
services is widely regarded as India's best. Their digital cable offering includes over 180 leading
channels, a multi-genre digital music service, blog.Telly (India's first micro blogging service on
TV) and interactive games. The company operates between one and three own brand television
channels from each of their head-ends, which are telecast exclusively on their cable distribution
network. These channels primarily telecast films, music, devotional programmer or local events
and news. They have the rights to telecast more than 4,000 films on their network. They have
obtained an all-India ISP license and have commenced a limited roll out of broadband internet
services in select areas. DEN Networks Ltd was incorporated on July 10, 2007 as a private
limited company with the name DEN Digital Entertainment Networks Pvt Ltd to engage in cable
television distribution, broadband internet and other related business. In less than three years of
operations, the company crossed the landmark on approximately 11 million subscribers. Through
aggressive acquisition, it has emerged as the larges national level MSO (Multi System Operator)
in India. In October 12, 2007, the company entered into a partnership with Priya Mukherjee
through a partnership deed for establishing Creative Cable Network. In January 14, 2008, the
company entered into a joint venture agreement with Star India Pvt Ltd and formed a 50:50 joint
venture company, STAR-DEN, to operate a television channel distribution business in India,
Nepal and Bhutan. In February 2008, the company launched their digital cable television
services under the brand, digitally. They also obtained a non-exclusive license from the DoT to
set up and operate internet services all over India. In March 2008, they imported fist set of set top
boxes. In April, 15, 2008, the company was converted into public limited company and the name
was changed to DEN Digital Entertainment Networks Ltd. In June 27, 2008, the name of the
company was changed from DEN Digital Entertainment Networks Ltd to DEN Networks Ltd. In
August 2008, the company obtained a license to operate the conditional access system in Delhi
and Mumbai. During the year 2009-10, the company issued and allotted 18,567,240 equity
shares of face value of Rs 10 each, pursuant to the Initial Public Offer (IPO), which were
admitted for listing and trading on Bombay Stock Exchange (BSE) and National Stock Exchange
(NSE) with effect from November 24, 2009. During the year, the company expanded their
Page 4
analogue cable services to 84 cities and digital cable services to a majority of cities where it
present and plans to roll out digital cable television in all of the remaining cities of its operations
across the country. They acquired majority stake in the business of 76 MSOs and took their
affiliates count to 83. The company was awarded 'The Best Indian Cable TV MSO' at the Indian
Telly Awards Function held by Indiantelevision.com in June 2010. They have also featured in the
Business Standard BS 1000 annual ranking of Indian companies in February 2010 and were
ranked among the Top 500 companies by revenues. In October 2010, the company through their
subsidiary, IME Networks Pvt Ltd, entered into a 75-25 joint venture with BFTV, Broadcasters
of the Baby First Channel, a leading international television channel for babies, toddlers and
parents. The joint venture will house all rights for Baby First's businesses in India and other
select territories, including the distribution of the channel and related businesses. The company
intends to acquire majority stakes in established MSOs in order to consolidate their position in
the states in which they already have a presence and to expand into other Indian states that have
significant market potential for increased digital cable penetration and high revenue growth.
Profile of the company (History, Vision, Mission, Objectives, Functions etc)
Status of the company in general: ACTIVE
Name of the company: TECHNOBILE SYSTEMS PRIVATE LIMITED
India company code: U72100HR2011PTC042569
Physical addresses:
1.
Directors / owners:
2.
MAYANK JAIN
3.
DEEPTESH CHANDRA
Page 5
He founded DEN in 2007 with a vision to bring about a paradigm shift in India's cable TV
distribution industry through consolidation and digitization. Within a few years since its
formation, DEN has become India's leading cable TV distribution company and is a pioneer of
digitization. He was also instrumental in the formation of Star DEN, a 50-50 J-V between DEN
and the Star TV group. He was a co-founder of the erstwhile IBN18, home of CNN IBN and
IBN7 and was the Joint Managing Director of the company from 2005 to 2010. He was also a
founding member of the News Broadcasters Association and served as its President in 2009 and
2010. Prior to IBN18, he served as a Director on the board of NDTV Ltd. A qualified Chartered
Accountant, he has over two decades' experience in the Indian media & television industry. He
has been associated with the Indian television industry since 1984. He is currently a member of
the CII National Committee on Media & Entertainment and the FICCI Broadcast Forum.
Mr. S.N. Sharma, Chief Executive Officer (CEO)
He is one of the founding members of DEN and his vision of growth through consolidation and
digitization laid the foundation for the company. He has spearheaded the company's rapid growth
with his visionary leadership and unparalleled execution abilities to make DEN the leading cable
TV distribution company in India. He is a driving force behind taking the company into the
digital era and in its rise as one of the leading digital TV platforms of the country.
He has nearly three decades of experience during which he has been associated with the
electronic media industry for over 20 years. A veteran of the Indian cable TV sector, his
involvement with the industry dates back to its infancy and he is widely regarded as one of the
shapers of the industry.
Prior to DEN, he has held key positions in Hathway Cable & Datacom and IndusInd Media &
Communications. He has also been associated with leading global multinationals such has
Westinghouse Electric Corporation and Kent-Taylor, a part of the ABB Group during the initial
phase of his career. His areas of expertise include operations, strategic planning, business
development, project management and marketing & sales among others.
Page 6
He is a member of the Task Force on Digitisation set up by the Ministry of Information &
Broadcasting and is a founding member and Secretary of the MSO Alliance. He holds a
Bachelors degree in Electronics and Communications Engineering and a Masters in Business
Administration.
Tec noble focus on understanding to its clients needs and delivering IT services & solutions at
right value & required speed. We believe we succeed when our clients succeed by growing and
outpacing their competition. By selecting Tec noble as an IT services partner, youll gain access
to process excellence, IT technology expertise & an experienced pool of resources. Our focus is
on driving business transformation through IT as a tool to help you drive genuine business
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services, manufacturing, Retail and Consumer products in their enterprise transformation,
business process optimization, technology implementation, workflow design and optimization.
We leverage our domain expertise, business consulting skills and technology competence to
provide bespoke/custom solutions to our customers for gaining sustainable edge over
competition. Our capabilities include a fully integrated approach that ensures that every aspect of
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opportunities.
Vision
To be an end-to end Information Technology solutions Provider providing solutions that
enhance capability of our clients to succeed in the competitive business environment.
To emerge as the leading Distribution, Marketing, Customer Services and in other words, a total
Convergence Company especially in the areas of State of the art digital Cable TV transmission
(which obviously is our main forte). Our proposed foray into the areas of Information
Page 7
Technology and Data Base Management is poised to take off into a new and un-chartered
horizon for the Generation Next. Manthan endeavours to deliver enhanced customer experience
through innovation, by use of cutting edge technology and by extensive knowledge
dissemination to members of the partner eco-system. We relentlessly work to raise the
benchmarks of customer experience in the country for all times to come. Manthan maintains high
standards of social and civic responsibility, as we firmly believe that we should contribute to the
society in which we operate. We aim at providing the community our technologies and solutions
to support them in their growth and development.
Manthan is always committed to provide best possible Quality of Service to all our viewers.
There are some differentiating factors that helped us to reach and sustain our position at the
zenith.
Mission
To provide our clients good quality, solution-oriented, user-centric and technology-based
solutions in a cost-effective manner.
Statistical facts and information
Page 8
We initiate our coverage on Dish TV, DEN Networks and Hathway Cable & Data Comm.
(Bloomberg codes: DITV IN Equity, DEN IN Equity, HATH IN Equity) with BUY ratings. We
estimate an average 39% EBITDA CAGR (2010-2014e) and 9.56x Mar12e EV/EBITDA for
Dish TV, DEN Networks and Hathway. Growing Digital Pay TV Subscribers on both the
DTH and Cable TV platform due to increase in digital penetration and the legitimization of
Hidden Subscribers (by Local Cable TV Operators, LCOs henceforth) to drive industry
revenues and profitability: We expect the penetration of TV households in India to grow from
50% in Mar10 to 54% in Mar14e at a 7% CAGR (2010-2014e), with TV households reaching
190 Mn in Mar14e. In this same period, the Pay TV penetration is expected to increase from
80% (in Mar10) to 86%, reaching 164 Mn by Mar14e and growing at a 9% CAGR (20102014e). We expect both the DTH and Digital Cable TV platform to individually experience hyper
growth at a 24% CAGR (2010-2014e) .The subscriber base on the DTH platform is expected to
increase from 21 Mn in Mar10 to 49 Mn by Mar14e and Digital Cable TV subscribers are
expected to increase from 7 Mn in Mar10 to 16.5 Mn by Mar14e. Hidden Analogue Cable TV
Subscribers by LCOs are main barrier for Pay TV industry to reach its potential: The
current market size of Pay TV in India is expected to be in the range of INR 146 Bn (US$ 3.32
Bn) as of Mar11e, whereas the actual potential for Pay TV services is INR 296 Bn (US$ 6.58
Bn). This it determines the magnitude, the opportunity and the available depth in the Pay TV
subscription market in India. The wide gap is mainly attributed to the fact that of nearly 72 Mn
subscribers (almost 80% of the Secondary Analogue Cable TV subscribers) as of Mar11e are
not disclosed by LCOs and ICOs (Independent Cable Operators) to MSOs (Multi System
Operators). With the ongoing increase in digital penetration and regulatory pressures, we expect
the gap to be reduced benefitting both Broadcasters and Video Content Distributors, such as Dish
TV, DEN Networks and Hathway.
Favorable
regulatory
changes
and
implementation
of
TRAIs
Sunset
Clause
We believe that LCOs at some point will review their decision to digitize their existing
subscribers with the help of MSOs and retain a pre-defined percentage of the ARPU or they will
lose the subscribers completely to DTH operators. Certain concerns from the industry and the
MIB regarding a reduction in the Basic Duty structure for imported set top boxes (STBs), a
License Fee reduction and the availability of STB across India are genuine to some extent, but
are miniscule considering the opportunity and depth available in the Pay TV market. Video
Content Distribution companies in India are trading at attractive valuations: Global DTH
and Cable TV/MSOs are expected to grow at a 5-10% EBITDA CAGR (2010-2013e), while we
expect Dish TV, DEN Networks and Hathway to grow at a 24-60% EBITDA CAGR (20102013e) due to strong growth from both DTH and Digital Cable TV subscribers, from a small
existing subscriber base. Currently Dish TV, DEN Networks and Hathway are trading between
5.0x and 16.0x Mar12e EV/EBITDA, which is marginally more expensive than global peers,
but they look very attractive on a growth-adjusted basis.
Page 10
Page 11
With the exception of Dish TV, both DEN Networks and Hathway have significantly
underperformed the Sensex as seen in Exhibit 2. We feel that it is a good opportunity to BUY
into this sector considering both the digital platforms have long-term growth potential to drive
the Pay TV market for the next three to four years.
Risks to Upside
Broadcasters could demand higher ARPU share: Once digitization penetrates well
within the Pay TV market in India by Mar14/Mar15, broadcasters might demand a
bigger share from the Digital ARPU from MSOs and DTH operators. Currently,
broadcasters retain 14% of the ARPU, and post digitization broadcasters are expected to
retain 45% of the ARPU. However broadcasters may demand a much higher share of
ARPU, which will have a direct impact on Pay Channel costs and lower the EBITDA
margins for DTH operators and MSOs.
Capex for HD (High Definition) systems upgrade and HD set top box: DTH operators
and MSOs may have to replace and upgrade their existing broadcast systems to transmit
HD (High Definition) content, which could have a direct impact on the FCF. As a result
we expect high capex and lower FCF yields post digitization. Operators may also have to
Page 12
subsidize HD set top boxes as replacement capex for their existing customers. Dish TVs
present cost for HD set top boxes along with the low noise block convertor (LNB), the
feedhorn and the antenna is approximately INR 4,000, so upgrading even 15% of the net
subscriber base every year would amount to INR 3.2 Bn (US$ 70 Mn) for the next 6.5
years (considering a 60% subsidy that would translate to negative FCF until Mar16)
Structured cabling costs: Modern condominiums in major cities and metros require
structured cabling across multiple floors and buildings. These structured cabling costs
could vary from INR 1,500 to INR 2,000 per home passed, which could translate to a
total capex of INR 4 Mn per condominium for 2,000 households. In such cases, operators
might require more than a 70% utilization rate to breakeven, which looks quite
challenging.
Digital saturation in metros: Three to four years from now, we expect significant
number of subscribers in metros and Tier-1 and Tier-2 cities on the digital platform,
which will force the MSOs to explore unknown territory and rural markets to avoid stiff
competition and slow growth rates. MSOs will have to deploy additional capex of INR 50
Mn per headend as well as capex to either deploy last mile copper access or buy over
incumbent ICOs (Individual Cable Operator) or LCOs (Local Cable Operators) at
anywhere between 24 to 30 months of ARPU of the total active subscriber base.
Technology threat from Big Brother: MSOs such as Hathway and DEN who are
focused on metros and Tier-1/Tier-2 cities, could be threatened from other competing
technologies in metros such as IPTV, which could result in MSOs moving faster than
expected to rural markets. Although insignificant, IPTV is definitely a big threat for
MSOs in metros. In rural markets, MSOs will also be threatened by Big Brother DTH
operators.
Page 13
Faster decline in Placement & Carriage fees: There could be faster than expected
decline in revenues from Placement & Carriage fees, which account for nearly 50% of
the total subscription revenues for DEN Networks and 38% of the total subscription
revenues for Hathway as of Mar10. If there are not enough new/niche channels in the
pipeline to be launched and if digitization accelerates beyond our expectations,
broadcasters might pay significantly lower Placement & Carriage fees, which will affect
the top line revenues for all MSOs across India.
Price competition: Price competition among MSOs and DTH operators might have a
significant impact on the Video, VAS and Broadband ARPU in the case of MSOs. Low
up take of VoD (Video on Demand), Gaming and other VAS (Value Added Services)
provided by MSOs and DTH operators will affect the overall ARPU in the long run.
Page 14
International)
in
the
1960s
and
1970s
using
data
from Fortune
500 companies. However, Humphrey himself does not claim the creation of SWOT, and the
origins remain obscure. The degree to which the internal environment of the firm matches with
the external environment is expressed by the concept of strategic fit.
Threats: elements in the environment that could cause trouble for the business or
project
Identification of SWOTs is important because they can inform later steps in planning to
achieve the objective.
First, the decision makers should consider whether the objective is attainable, given the
SWOTs. If the objective is not attainable a different objective must be selected and the
process repeated.
Users of SWOT analysis need to ask and answer questions that generate meaningful
information for each category (strengths, weaknesses, opportunities, and threats) to make the
analysis useful and find their competitive advantage.
MUMBAI: DEN Networks is looking at serving its Kochi subscribers better. The multi
system operator (MSO) has announced the launch of its HD package comprising 22 channels
for its existing subscribers in Kochi. With this launch, DEN has become the only cable TV
distribution
company
in
Kerala
to
offer
highest
number
of
HD
channels.
The HD package would include channels like, Star Plus, Zee TV, Zee Cinema, Star Gold,
Star World, Life OK, NGC, NGC Wild, NGC Music, HBO Hits, HBO Defined, Star Movies,
Movies Now, Romedy Now, Zee Studio, Star Sports HD1 and Star Sports HD2.
Commenting on the development, DEN Networks CEO S.N. Sharma said, At DEN
Networks, we have always believed in consistent improvement both in terms of customer
service and our offerings. Our ability to keep our customers in pace with the times has led to
us being among the fastest growing players in Cable TV distribution in Kerala. Our new HD
Package is yet another step towards bringing a richer, high definition TV viewing experience
for our customers in Kochi. Kerala has more than 1.2 million subscribers and most of them
Page 16
are early adapters when it comes to latest technology. At DEN Networks, our ability to sense
the evolving demand and offer our customers customised solutions have helped us to garner
increasing market share, added Sharma. In the next few months, while we will increase
our presence across all 14 districts of Kerala; we will also introduce this HD Package in
other towns like Trivandrum, Kottayam, Kannur, Mallapuram, Pallakad etc, he concluded.
DEN Networks Cable TV services are available in 10 of the 14 districts in Kerala, namely
Eranakulam (Kochi), Allapuzha, Kottayam, Trivandrum, Thrissur, Mallapuram, Pallakad,
Kozhikode (Calicut), Kannur and Kasargode. The MSO offers 200 SD channels and 22 HD
channels in Kochi as of now, all the other places offering is 140 channels, which will be
upgraded to 200 and 22 HD channels in the coming months. Also company will soon be
introducing packages to subscribers in Kerala, that will offer the choice of deciding what
bundle of channels to view and pay for. Kerala has a total market size of six million cable
homes, out of which, DEN is having more than 20per cent market share as of now and fast
growing.
Strengths
DT H Operators in India
Opportunities
DT H Operators in India
Indifferent behavior and poor quality reception from LCOs could drive more users to
DTH platform.
Digitization pushes from GoI.
Cable TV MSO in India
Digitization and legitimizing subscribers will drive revenue growth.
Digitization pushes from GoI.
Threats
DT H Operators in India
Competing with big Telecom operators who have significant national dominance in
marketing activities, brand recognition, financial strength and capabilities to bundle
services.
Cable TV MSO in India
DTH operators are growing faster with new services like HD and PVR, this might result in
losing market share especially in metros.
Increasing IPTV services in certain pockets within metros.
Page 18
Strengths
High viewership ratings: The channels of Zee Entertainment provide good content to
the viewers and consequently enjoy high TRP ratings. Its flagship channel Zee TV (a
general entertainment channel) had on an average approximately 20 shows in the Top 50
and 30 shows in the Top 100 across the GEC in the first quarter of FY08. It has an
average channel share of 34%. The gap between Zee TV and the broadcasting leader Star
Plus has been narrowing considerably with the improvement in the gross rating points
(GRPs) of the latter. This has enabled the company to hike ad rates leading to a 31% YoY
increase in advertisement rates. This also increases its bargaining power with the MSOs
and DTH players.
High subscription revenues: Zee enjoys high subscription revenues from international
as well as domestic subscribers. It is one of the few broadcasters enjoying such high
subscription revenues, which cushions it from any slowdown in advertisement revenues.
The company's broadcasting services reach out to more than 500 m people across the
globe. The company beams its channels to over 120 countries through various
distribution platforms. Zee generally receives subscription or licensing fees from the local
cable operators and the DTH operators and it retains the advertising revenue it sells on its
channels. Zee's principal broadcasting operations are, apart from India, in the USA,
Canada, Caribbean, UK, Europe, Africa, Middle East and other parts of South Asia.
Page 19
Weaknesses
Lagging behind Star Plus: Its flagship channel 'Zee TV' is the number two channel
lagging behind Star Plus though the gap between the two has narrowed down
considerably. In the 10 pm to 11 pm slot Zee' s TRPs are less than that of Star Plus while
Zee is the clear leader in the 5.00 pm to 8.30 pm time slot and 9 pm to 10 pm time slot.
Zee is finding it difficult to garner more viewership ratings in the 10 pm to 11 pm time
slot as Star's programmer telecast at this time are very popular. In the media industry the
leader gets a disproportionate share of revenues and thus the there is a wide gap between
the ad rates of Star Plus and Zee TV.
Problem of attrition: The attrition rate in the company has increased. NDTV, UTV, INX
Media, TV 18- Viacom combine are planning to enter the Hindi General Entertainment
space. Ashvini Yardi, Senior Vice President (Programming), resigned to join competitor
Viacom TV 18 combine.
Increase in operating costs: The content costs are increasing which is reflected by the
fact that Balaji's realizations per hour are increasing even though its TRPs are falling.
Besides this the employee costs are also increasing.
Opportunities:
Benefit from the robust growth of the Entertainment and Media sector: The future of
the entertainment industry will be decided on the interplay of a number of factors like
consumerism, advertising spend, content, pricing, technology and regulation. According
to the FICCI-PWC report on the entertainment and media industry it is estimated that the
entertainment and the media industry is set to grow at a CAGR of 18% to reach an
estimated size of Rs 1 trillion in 2011. The television industry revenues are expected to
grow from the present size of Rs 191 bn to Rs 519 bn by 2011, implying a 22% CAGR
over the next five years.
Digitisation (rollout of CAS and DTH) means that cable penetration will increase from
70 m homes in 2006 to around 113 m homes by 2011. Subscription revenues are
Page 20
projected to be the key growth driver for the Indian television industry over the next five
years. Subscription revenues will increase both from the number of pay TV homes as
well as increased subscription rates. India's robust economic growth has an attractive
proxy in its advertising industry. The ad spend is a mere 0.4% of the GDP compared to
1.4% in the U S. Advertising revenue of the television industry is projected to grow from
Rs 66 bn in 2006 to Rs 123 bn by 2011. Thus Zee Entertainment has the opportunity to
benefit from the projected robust growth of the media and entertainment industry.
Threats:
Slowdown in India's economic growth: Any slowdown in India's economic growth will
reduce the demand for the advertiser's products, which may lead to a cut in their ad
budgets. This will have a negative impact on its advertising revenues.
Increased competition: The Hindi General Entertainment space will become very
competitive with the entry of the TV 18 group, UTV, NDTV, INX Media. All these
players though initially would make losses but are adequately funded and have a good
management team at the helm to cause a potential dent in Zee's market share. A fall in
Zee's TRP's will lead to a decline in its advertisement and subscription revenues.
Slow rollout of CAS: The government may delay the rollout of CAS. The consumers
may show some hesitation in opting for paid channels and many viewers may opt only
for FTA channels. Both these factors may cause a dent in the subscription revenues of
Zee TV.
Declining viewership and revenue share of GEC channels: Zee Entertainment derives
majority of its revenues and profits from the flagship channel 'Zee TV' which is a general
entertainment channel. However the viewership and revenue share of GEC channels are
seen on a declining trend while that of niche channels is increasing.
Page 21
%
Channel genre
GEC
Regional
Niches
English Entertainment
Child infotainment
Hindi movies
Music/ Lifestyle
News
Sports
Total
Share of viewership
2003
2004
42
33
42
41
16
26
2
2
2
3
4
5
1
2
2
5
5
9
100
100
2005
34
36
30
1
4
8
2
7
8
100
Share of revenues
2003
2004
53
47
16
20
31
33
3
5
1
2
7
4
2
2
13
10
5
10
100
100
2005
39
24
37
4
3
6
3
12
9
100
Competition information
Since the Cable TV industry is extremely fragmented and with over 1,000 MSOs trying
to access 55,000 LCOs for the last mile connectivity, we expect intense competition
among MSOs. In addition to the above the Cable TV industry is extremely unregulated.
With the impeding Sunset Clause on the horizon, we expect intense competition among
MSOs to attract LCOs onto their network. We expect broadcasters will also have a
significant bargaining power over MSOs and DTH operators regarding ARPU sharing
terms once the Sunset Clause sets in the Pay TV market. As per TRAI recommendations,
post digitalization the broadcasters are expected to retain 45% of the ARPU, but we
expect to see a change in this and the broadcaster might eventually retain a much higher
share of the ARPU post- Sunset Clause/Digitization, which will be negative for MSOs
and DTH operators.
We initiate our coverage on DEN Networks with a BUY rating and a Target Price of INR
139 with an upside potential of 64% using the DCF methodology. The prime reasons
behind our preference towards this stock and the Pay TV market in India is digitization
and the conversion of Hidden Subscribers on the LCOs network to Paying Subscribers.
In our estimates, we are assuming that the Sunset Clause will not be accepted by MIB
with the revised time frames as suggested by TRAI. However, we are assuming a
continuous trend in which every year more subscribers are digitized and legitimized,
which it is a very big opportunity and the key driver for MSO stocks in India. DEN
Network trades at Mar12e EV/EBITDA of 4.9x, Mar13e EV/EBITDA of 4.1x ,P/E 9.0x
Page 22
Mar12e and P/E Mar13e 7.2x, which is extremely reasonable considering that the
Revenue CAGR (2010-2014e) of 14% and EBITDA CAGR (2010-2014e) is 32%. We
estimate the FCF yield to increase from 8% in Mar12e to 14% by Mar14e and estimate
EV/Paying Subscriber at INR 5,617 (US$ 126) in Mar12e. Unlike Dish TV, we not
expect any dilution for the next couple of years. The JV with Star provides a significant
advantage for DEN Networks over its competitors, as the revenues from this venture will
flow in annually since it acts as a Broadcaster and Content Aggregator for other MSOs,
DTH operators and ICOs across India. Star DEN Revenues are expected to grow at a
13% CAGR (2010-2014e). These revenues from the JV are independent of the
digitization plans for DENs cable network. Capex is primarily due to STB costs and the
minimal amount is allocated to Headend, Production and Broadcast Infrastructure Capex.
We estimate a cumulative Capex of INR 2,177 Mn from Mar11e to Mar14e. We do not
estimate any dividends to be paid for next three to four years. As of Mar10, DEN
reaches out to 11 Mn households, and post discussions with company management and
multiple channel checks, we do not believe that the company will expand in terms of its
footprint. DEN is expected to digitize its existing subscribers rather than focus on
increasing households reached. Of the households DEN reached in Mar10, 10% were
Paying Subscribers and remaining 90% were Hidden Subscribers. We estimate this
scenario will change over the next few years and by Mar14e, DEN is expected to have
20% of the total households reached as Paying Subscribers, and 50% of these Paying
Subscribers will be on the Digital platform vs. 41% as of Mar10.
Page 23
Page 24
Revenues from the 50:50 JV between Star and DEN as on Mar10 were INR 4,667 Mn.
The Star DEN JV is a content aggregator and receives revenues every year from multiple
MSOs, DTH operators and Independent Cable Operators across India. These revenues
from the JV are not only dependent on the digitization/expansion plans of DEN
Networks, but depend on legitimizing and digitizing subscribers across all MSOs, ICOs
and DTH operators. We estimate a 13% Revenue CAGR (2010-2014e) from the JV and
estimate revenues of INR 8,090 Mn in Mar15e. Content Costs form the biggest portion
of the costs for any MSO/DTH operator across the world and therefore, any savings on
the Content costs from Broadcasters will directly impact the EBITDA margin. In the case
for DEN Networks, Contents Costs are paid on Cable TV Subscription revenues and
revenues earned from the Star DEN JV. We forecast the Content Costs to increase from
INR 5,511 Mn in Mar10 to INR 8,546 Mn by Mar14e but decline as percentage of Total
Income from 60% Mar10 to 55% by Mar14e, which translates to an expansion in
EBITDA margins from 10% in Mar10 to 19% by Mar14e. Consequently, we estimate a
32% EBITDA CAGR (2010-2014e).
Page 25
and products. Yoshii (2001) finally considers how society and culture could change as a whole
with increased dissemination of new media, changes in communication and states. As a result of
new media as a whole speeding up the flow of information, the world will undergo radical
changes such as it has never before experienced. These changes will, like it or not, transform
social organizations, bringing about what business administrators call temporariness. And the
world will shift to a value system that applauds changes. The new media, if used improperly,
may not only bring about serious social problems but also give rise to a new rich-poor gap in
information between those who know to use the media and those who do not. We need to firmly
establish media literacy and media ethics if we are to prevent these problems from arising.
Keeping in view the concerns of the above mentioned researches the present research was the
first in India on similar grounds. The results of this study could provide a guideline to the
audience how to critically analyze the content of media and keep watch of negative impacts.
Goonasekera (1993) relates the relationship between media and social imperatives. It is possible
for a third world country to adopt communication policies to bypass early stages of
industrialization and leapfrog the modern technology. He says that Palapa was an experiment in
rural development through the use of advanced communication technologies by using a satellite
based system of broadcasting and telecommunication to link vastly scattered villages with the
centre. It was considered the most cost-efficient and quickest way of linking the 150 million
people of Indonesia. The satellite system was used to launch a development communication
programmer aimed at teaching basic skills in production and marketing of rural areas-based
goods to teach family planning, improved health and hygiene to show how to protest the natural
Environment and to provide general information about the world outside. Rahim (1994)
conducted a survey on the impact of cable network on television and video viewing in
Hyderabad. According to him: Cable network introduced in India in 1984 are new phenomenon
in media as compared to video. There were about 3,460 cable television networks in May 1990
and over 3.3 million households in four metros namely Bombay, Delhi, Calcutta and Madras had
been cable television, with an audience of 1.6 million. Though it does not present as wide and
personal selection of programmers content as video but offers similar entertainment at less cost
and also overcome the problem of zapping of advertisements. Hence, it is more useful for the
advertiser. He concludes that cable subscribers are mostly from upper and middle income
groups. The average time spent on watching television is 5.36 hours per day in each household.
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Out of this, 60 percent of time is spent in watching programmer on cable and 40 percent on
watching Door Darshan. More females watch entertainment programmer on television. Although
there is no significant variation of choice regarding news on DD and cable television but it is
preferred for entertainment programmer and movies. A research on the impact of cable
television on women at a very basic level in terms of activities, time management and interaction
with family members and the outside world revealed that 16 out of 30 women spent over 4 hours
a day watching cable television and 10 of them spent 2 to 3 hours a day (Eashwer, 1994). The
researcher reported that the major activities affected are:
Exposure to other media and reading habits
Interaction with children, husband, other family members, friends and neighbors
Cooking and other household work Women see two Indian feature films a day on cable
television which pushes them to the world of fantasy and promotes violence.
The above mentioned studies performed in South East Asia have not been conducted in India.
This study ascertains if the similar effects and viewer-ship patterns are present in India or if there
is a deviation. Sen (1993) narrates that in todays world with fiber optics and satellites, it is hard
to isolate oneself from sounds and images from the west but no established and traditional and
cultural entity wants to be overwhelmed and dominated by the accoutrements of another alien
culture. If the global culture means domination of one over the other or replacing one by the
other, then there is less scope of development of a truly global culture which could include
interaction, assimilation, exchange of ideas, artistic and scientific cross fertilization. He
concludes that there is no clear evidence of a global culture at present. On the contrary, evidence
suggests that the third world people are changing more to their own music, art, language and
customers. Prevalence of the American pop culture is more apparent in urban areas and among
the elite of the third world countries but still the majority is in rural areas. The consumption of
American products will more likely continue to expand the gap between the rich and the poor
urban and the rural cultures. Shariffadeen (1995) looks at some of the major economic, cultural
and social issues faced by developing countries arising from new technology in his study. He
concludes that the new communication era should not be perceived as a purely technological
phenomenon. Its ultimate impact is social and cultural, although technological advancement is
the key enabler. This new era invites a change in social and cultural patterns. At individual level,
it raises the importance of mental and intellectual ability. For society at large, it engenders new
forms of social organizations. Economic restriction will result from information intensification in
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production and delivery of goods and services. A strategic approach involving full mobilization
of critical resources is suggested as being the key to a higher level of achievements. Finally, it is
suggested that developing nations promote a learning culture among their people in order to gain
foothold in the emerging information based economy. The above mentioned studies target the
scope and impact of cable television on education and information based economy. In this study
the researcher measured the impact of cable television on family and social interaction, social
role, domestic and other activities of women in India. This study gave a new scope and
dimension to researchers in other countries. The role of new information/communication
technologies (NICT) in the field of education is examined by Karnik (1995). Her study revealed
that NICT facilitate the extension and outreach of education. She says that increasing
privatization and commercialization of education is an evident trend worldwide. To this,
technology has added a new dimension: globalization through trans-national satellite broadcast
of distance education programmer. Though this is just the beginning but this trend is likely to
continue. The implications and effects of this trend, especially for developing countries, need to
be carefully examined. There are also numerous issues about cultural diversity versus
homogeneity that need consideration but still NICT throw open a vast field of opportunities in
the education sector.
New Delhi: Cable television services firm Den Networks Ltd on Wednesday reported a decline
in consolidated net profit at Rs. 1.12 crore for the quarter ended June 2014. The cable television
services firm had posted a consolidated net profit of Rs. 10.15 crore for the corresponding period
a year ago. Consolidated revenue from operations during the quarter under review increased
to Rs. 298.81 crore as against Rs. 268.70 crore a year ago, the company said in a filing to the
BSE. Shares in Den Networks, on Wednesday, ended at Rs. 160.05 apiece on the BSE, down
12.76 per cent from the previous close.
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Unshielded
twisted
pair
Fiber optic
UTP characteristics
Unshielded
Twisted (why?) pairs of insulated conductors
Covered by insulating sheath
Cat5e cable
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Step 6 Check
Do all wires extend to end?
Is sheath well inside connector?
Step 7 Crimp
Squeeze firmly to crimp connecter
onto cable end (8P)
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Step 8 Test
Does the cable work?
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Given a scenario and networking requirements, select and install cables for
communication between computers and networking devices.
Wired Networking
Identify network interface cards and motherboard memory slots by sight or name.
Given a scenario where a new networking card is required in a new or existing computer,
select and install the appropriate networking card.
Given a scenario where computers must communicate within a wired network, select and
install the appropriate networking device(s).
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Given a scenario where computers must communicate with two or more wired networks,
select and install the appropriate networking device(s).
Given a scenario where a VoIP implementation is required, select and install the
appropriate networking devices and cables.
Wireless Networking
Given a scenario where computers must communicate within a wireless network, select
and install the appropriate networking devices.
Given a Windows system, configure a wireless network connection to use the same
encryption standard and authentication as configured on a wireless access point.
Given a scenario and a Windows system, prioritize wireless profiles to meet end-user
requirements.
Identify and select valid IP addresses and classful and classless subnet masks for network
connections.
Given a Windows system, configure the network connection for communication outside
of the local network.
Given a Windows system, configure the network connection to use DHCP for IP
configuration.
Given a Windows system, configure the network connection to query DNS servers.
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Network Services
Given a scenario and network requirements, identify public and private interfaces and
addresses for a NAT implementation.
Given a scenario and network requirements, identify and select the DHCP scope,
reservations, and options.
Network Security
Given a Windows system, configure the basic Windows Firewall by opening the
necessary ports based on running services and applications.
Given a scenario, select and install networking devices to meet networking security
requirements.
Network Management
Given a scenario, select and install networking devices to prioritize network traffic,
reduce broadcast or collision domains, and separate voice and data traffic.
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Given a Windows system, enable and configure Remote Desktop to meet end-user
requirements.
Network Troubleshooting
Use and interpret the output from the ipconfig command to verify and troubleshoot the
existing network configuration.
Use and interpret the output from the tracert command to identify default gateway,
routing path and IP information for internetwork traffic.
Use and interpret the output from the ping command to identify and troubleshoot the
logical connectivity between two or more networking devices.
network or data
network is
a telecommunications
network that
allows computers to exchange data. In computer networks, networked computing devices pass
data to each other along data connections. The connections (network links) between nodes are
established using either cable media or wireless media. The best-known computer network is
the Internet.
Network computer devices that originate, route and terminate the data are called network
nodes. Nodes
can
as
personal
well
as networking hardware. Two such devices are said to be networked together when one device is
able to exchange information with the other device, whether or not they have a direct connection
to each other.
Computer networks support applications such as access to the World Wide Web, shared use
of application and storage servers, printers, and fax machines, and use of email and instant
messaging applications. Computer networks differ in the physical media used to transmit their
signals,
the communications
protocols to
organize
network
traffic,
the
network's
In telecommunication a data link is the means of connecting one location to another for the
purpose of transmitting and receiving digital information. It can also refer to a set of electronics
assemblies, consisting of a transmitter and a receiver (two pieces of data terminal equipment)
and the interconnecting data telecommunication circuit. These are governed by a link
protocol enabling digital data to be transferred from a data source to a data sink.
There are at least three types of basic data-link configurations that can be conceived of and used:
In civil aviation, a data-link system (known as Controller Pilot Data Link Communications) is
used to send information between aircraft and air traffic controllers when an aircraft is too far
from the ATC to make voice radio communication and radar observations possible. Such systems
are used for aircraft crossing the Atlantic and Pacific oceans. One such system, used by Nav
Canada and NATS over the North Atlantic, uses a five-digit data link sequence number
confirmed between air traffic control and the pilots of the aircraft before the aircraft proceeds to
cross the ocean. This system uses the aircraft's flight management computer to send location,
speed and altitude information about the aircraft to the ATC. ATC can then send messages to the
aircraft regarding any necessary change of course.
In communications and electronic engineering, a transmission line is a specialized cable or other
structure designed to carry alternating of radio frequency, that is, currents with a frequency high
enough that their wave nature must be taken into account. Transmission lines are used for
purposes
such
as
connecting radio
their antennas,
distributing cable television signals, trunk lines routing calls between telephone switching
centers, computer network connections, and high speed computer data buses.
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This article covers two-conductor transmission line such as parallel line (ladder line), coaxial
cable, strip line, and micro strip. Some sources also refer to waveguide, dielectric waveguide,
and even optical fiber as transmission line, however these lines require different analytical
techniques and so are not covered by this article; see Waveguide (electromagnetism).
Physical media refers to the physical materials that are used to transmit information in data
communications. It is referred to as physical media because the media is generally a physical
object such as copper or glass. It can be touched and felt, and has physical properties such as
weight and color. For a number of years, copper and glass were the only media used in computer
networking.
Type of Research and Research Design
Research methodology is considered as the nerve of the project. Without a proper well-organized
research plan, it is impossible to complete the project and reach to any conclusion. The project
was based on the survey plan. The main objective of survey was to collect appropriate data,
which work as a base for drawing conclusion and getting result. Therefore, research
methodology is the way to systematically solve the research problem. Research methodology not
only talks of the methods but also logic behind the methods used in the context of a research
study and it explains why a particular method has been used in the preference of the other.
Research design:
Research design is important primarily because of the increased complexity in the market as well
as marketing approaches available to the researchers. In fact, it is the key to the evolution of
successful marketing strategies and programmers. It is an important tool to study buyers
behavior, consumption pattern, brand loyalty, and focus market changes. A research design
specifies the methods and procedures for conducting a particular study. According to Kerlinger,
Research Design is a plan, conceptual structure, and strategy of investigation conceived as to
obtain answers to research questions and to control variance. The General study was converged
as a specific study for Den Cable. The study was initiated to find out the consumer profile, brand
perception and cross preference among Den Cable and Competitor brands. Our approach to the
research design tasks went through the following tasks.
Information needed
?
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Quantitative Research
These experiments are sometimes referred to as true science, and use traditional
mathematical and statistical means to measure results conclusively.
They are most commonly used by physical scientists, although social sciences, education
and economics have been known to use this type of research. It is the opposite
of qualitative research.
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Quantitative experiments all use a standard format, with a few minor inter-disciplinary
differences, of generating a hypothesis to be proved or disproved. This hypothesis must
be provable by mathematical and statistical means, and is the basis around which the
whole experiment is designed.
Randomization of any study groups is essential, and a control group should be included,
wherever possible. A sound quantitative design should only manipulate one variable at a
time, or statistical analysis becomes cumbersome and open to question.
Ideally, the research should be constructed in a manner that allows others to repeat the
experiment and obtain similar results.
After statistical analysis of the results, a comprehensive answer is reached, and the results
can be legitimately discussed and published. Quantitative experiments also filter out
external factors, if properly designed, and so the results gained can be seen as real
and unbiased.
Quantitative experiments are useful for testing the results gained by a series of qualitative
experiments, leading to a final answer, and a narrowing down of possible directions for
follow up research to take.
Disadvantages
Quantitative experiments can be difficult and expensive and require a lot of time to
perform. They must be carefully planned to ensure that there is complete randomization
and correct designation of control groups.
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Quantitative studies usually require extensive statistical analysis, which can be difficult,
due to most scientists not being statisticians. The field of statistical study is a whole
scientific discipline and can be difficult for non-mathematicians
In addition, the requirements for the successful statistical confirmation of results are very
stringent, with very few experiments comprehensively proving a hypothesis; there is
usually some ambiguity, which requires retesting and refinement to the design. This
means another investment of time and resources must be committed to fine-tune
the results.
Quantitative research design also tends to generate only proved or unproven results, with
there being very little room for grey areas and uncertainty. For the social sciences,
education, anthropology and psychology, human nature is a lot more complex than just a
simple yes or no response.
Qualitative Research
It is also very useful for product designers who want to make a product that will sell.
For example, a designer generating some ideas for a new product might want to study
peoples habits and preferences, to make sure that the product is commercially
viable. Quantitative research is then used to assess whether the completed design is
popular or not.
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For these reasons, these qualitative methods are often closely allied with interviews,
survey design techniques and individual case studies, as a way to reinforce and evaluate
findings over a broader scale.
A study completed before the experiment was performed would reveal which of the
multitude of brands were the most popular. The quantitative experiment could then be
constructed around only these brands, saving a lot of time, money and resources.
Qualitative methods are probably the oldest of all scientific techniques, with Ancient
Greek philosophers qualitatively observing the world around them and trying to come up
with answers which explained what they saw.
Design
The design of qualitative research is probably the most flexible of the various
experimental techniques, encompassing a variety of accepted methods and structures.
From an individual case study to an extensive interview, this type of study still needs to
be carefully constructed and designed, but there is no standardized structure.
Case studies, interviews and survey designs are the most commonly used methods.
Qualitative techniques are extremely useful when a subject is too complex be answered
by a simple yes or no hypothesis. These types of designs are much easier to plan and
carry out. They are also useful when budgetary decisions have to be taken into account.
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The broader scope covered by these designs ensures that some useful data is always
generated, whereas an unproved hypothesis in a quantitative experiment can mean that a
lot of time has been wasted. Qualitative research methods are not as dependent upon
sample sizes as quantitative methods; a case study, for example, can generate meaningful
results with a small sample group.
Disadvantages
Any qualitative research design is usually unique and cannot be exactly recreated,
meaning that they do lack the ability to be replicated.
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Quantitative Research on the other hand focuses more in counting and classifying
features and constructing statistical models and figures to explain what is observed.
Qualitative
Quantitative
Hypothesis
Broad
Narrow
Description
Whole picture
Focused
Type of Research
Exploratory
Conclusive
2. Usage
Qualitative Research is ideal for earlier phases of research projects while for the latter
part of the research project, Quantitative Research is highly recommended. Quantitative
Research provides the researcher a clearer picture of what to expect in his research
compared to Qualitative Research.
Phase
Qualitative
Quantitative
Early
Late
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4. Type of Data
The presentation of data in a Qualitative Research is in the form of words (from
interviews) and images (videos) or objects (such as artifacts). If you are conducting a
Qualitative Research what will most likely appear in your discussion are figures in the
form of graphs. However, if you are conducting a Quantitative Research, what will most
likely appear in your discussion are tables containing data in the form of numbers and
statistics?
5. Approach
Qualitative Research is primarily subjective in approach as it seeks to understand human
behavior and reasons that govern such behavior. Researchers have the tendency to
become subjectively immersed in the subject matter in this type of research method.
In Quantitative Research, researchers tend to remain objectively separated from the
subject matter. This is because Quantitative Research is objective in approach in the sense
that it only seeks precise measurements and analysis of target concepts to answer his
inquiry.
Type
The data collection was done through
1. Secondary Data Analysis
2. Survey
Secondary data is obtained by contacting the retailer and dealers.
Scaling Techniques
We asked the customers to rank the various attributes on a scale of very important, Important and
not very important. To find-out the brand perception of various brands, paired comparison
between them is used.
Questionnaire Design
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Questionnaire design was the critical issue as the questionnaire reflects the survey purpose .The
questionnaire was meticulously prepared by identifying the various variables. The same scale of
yes/no and very important, important and not so important was used throughout so as to make
the respondent comfortable. Firstly a questionnaire was prepared and few people were surveyed.
After this survey we realized the flaws in the questionnaire and then a modified questionnaire
was prepared and people were surveyed on this modified questionnaire.
1. You install File and Printer Sharing for Microsoft Networks.You share a folder and
leave the password option blank.Who can gain access to the folder
A. Anyone who can gain access to your network and has a Microsoft redirector such
as the Client for Microsoft Networks installed.
B. Windows 98 will not allow a blank password in this field.
C. Anyone with Internet Explorer installed.
D. Only users that are members of the same workgroup as you.
Answer: A
2. The figure below shows a typical Home Network Setup.Identify the network
components marked in red.
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Answer:
A: Cable/DSL Modem
B: CAT 5 Ethernet cable
C: Wireless Signal
E: Wireless Router
3. Some protocols are considered to be technically non-routable. Which of the
following statements best describes the most common reason why a protocol would
be considered non-routable
A. It does not contain the appropriate Data Link layer information required by
routers.
B. It uses advanced Transport layer services to move across the Internet and avoids
the routing overhead required by the more primitive networking protocols.
C. It defines Physical layer network addresses for internal routing.
D. It does not specify the Network layer addresses required by routers.
Answer: D
4. What is the binary network ID of the loopback IP address
A. 1
B. 10101010
C. 0
D. 1111111
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Answer: D
5. You are the LAN administrator for your company. You have couple Windows 2000
Professional clients that dial in via PPP to the company networks RAS server. You
want the remote clients to be assigned dynamic IP addresses. You reserve a pool of
class B addresses for these clients. Upon connecting, you find that the Windows 2000
computers are using a subnet mask of all 255s.What should you do
A. Run ipconfig with the /release and /renew switch on the client
B. Run ipconfig with the /renew_all switch on the client
C. Run winipcfg on the client
D. Do nothing.This is normal
Answer: D
6. You are configuring a router.According to the manual, you will need a transceiver to
connect to the LAN ports of the router.What kind of physical interface does the
router have
A. MSAU
B. RJ-11
C. AUI
D. BNC
Answer: C
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7. Which of the following are connectionless protocols.(Choose the three best answers.)
A. IP
B. SPX
C. IPX
D. UDP
Answer: A, C, D
8. How can Jim Herr, a client on an NT TCP/IP network see which remote hosts are
currently connected using NBT
A. Use NBTSTAT
B. Use NETSTAT
C. Use NSLOOKUP
D. Use IPCONFIG
Answer: A
9. You are setting up a new Windows 98 workstation on your network, and your
DHCP server provides all of the normal TCP/IP configuration information.What
must you do to configure the IP address on the workstation after you add the
TCP/IP protocol
A. The DHCP option is enabled automatically, and the server will auto-configure
everything.
B. Find out what the subnet mask on your network is, and add this information only.
C. Manually enter an IP address that is not in use on the network.
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D. Put the address of the router in the default gateway, and put all 0s in the IP field.
Answer: A
10. Which of the following is considered a Network Attached Storage device
A. A 60 GB DAT tape drive attached to the Network Server
B. A file server with special software that is at a separate location from the
departmental file server
C. In a Windows NT environment, it would be the Backup Domain Controller
D. A high speed specialized sub-network attached to the enterprise
Answer: B
Sampling Techniques
In the survey conducted, the sample was random in nature comprising of people from different
age groups and income stratas.
Data Collection
Data collection is the important step after the sample is selected on which the survey is being
conducted. With data that is available in the hard form we converted that to electronic form, to
analyze the data using the MS Excel softwares. In the data collection customers were
approached during the working hours at dealers point. The first part of the survey was a
disguised survey was there was no mention of Den Cable as Organization. It was conducted as a
part of institute project. Purpose of the survey was explained and was asked whether they are
interested to take part in the survey Later Questionnaire was handed over to them, and necessary
instructions were given to complete the questionnaire .The questionnaires were returned back
after filing up on their convince, While receiving the filled in questionnaire care was taken to
check whether there are any unfilled items in the questionnaire.
Data Analysis
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The data of score of features and score of brand perception was fed into the excel sheet. Separate
Excel sheets were employed for analysis of each brand and also to keep it concise and
unambiguous. For data analysis I use many types of charts:
Pie chart:
This is very useful diagram to represent data, which are divided into a number of categories. This
diagram consists of a circle of divided into a number of sectors, which are proportional to the
values they represent. The total value is represented by the full create. The diagram bar chart can
make comparison among the various components or between a part and a whole of data
Bar chart:
This is another way of representing data graphically. As the name implies, it consist of a number
of whispered bar, which originate from a common base line and are equal widths. The lengths of
the bards are proportional to the value they represent.
Limitations of Survey
Response Errors - These may arise when the respondents give inaccurate or incomplete
answers. For e.g. in our survey a respondent may not mention that he had test driven a car before
purchasing it A major problem faced in the survey involved the comparative ratings of various
attributes for all the brands of cars. Many of the respondents were not very willing to rank so
many factors as they perceived it to be time consuming.
Open Ended Questions All the questions in the questionnaire were open-ended to avoid any
kind of bias from the respondents end. But a drawback of this approach is that there was an
incomplete capture of his responses, as the respondent could not awesome out with the purchase
steps and the time taken in them. The reasons for such inaccuracy could be because of
unfamiliarity, fatigue, boredom, faulty recall and the Question format.
Random Sampling Errors This can occur, as the particular sample selected is an imperfect
representation of the population of interest. The area covered in the survey region and the
customer preferences and tastes in different Regions could not be covered.
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Secondary data are the data collected by a party not related to the research study but collected
these data for some other purpose and at different time in the past. If the researcher uses these
data then these become secondary data for the current users. These may be available in written,
typed or in electronic forms. A variety of secondary information sources is available to the
researcher gathering data on an industry, potential product applications and the market place.
Secondary data is also used to gain initial insight into the research problem. Secondary data is
classified in terms of its source either internal or external. Internal, or in-house data, is
secondary information acquired within the organization where research is being carried out.
External secondary data is obtained from outside sources. There are various advantages and
disadvantages of using secondary data.
(i) Advantages of Secondary Data:
Advantages of secondary data are following:
The primary advantage of secondary data is that it is cheaper and faster to access.
Secondly, it provides a way to access the work of the best scholars all over the world.
Thirdly, secondary data gives a frame of mind to the researcher that in which direction
he/she should go for the specific research.
Fourthly secondary data save time, efforts and money and add to the value of the
research study.
(ii) Disadvantages of Secondary data:
Following are the disadvantage of secondary data:
The data collected by the third party may not be a reliable party so the reliability and
accuracy of data go down.
Data collected in one location may not be suitable for the other one due variable
environmental factor.
With the passage of time the data becomes obsolete and very old
Secondary data collected can distort the results of the research. For using secondary data
a special care is required to amend or modify for use.
Secondary data can also raise issues of authenticity and copyright.
Keeping in view the advantages and disadvantages of sources of data requirement of the
research study and time factor, both sources of data i.e. primary and secondary data have
been selected. These are used in combination to give proper coverage to the topic.
(a) Questionnaire
Questionnaire is a set of questions has been prepared to ask a number of questions and collect
answers from respondents relating to the research topic. A number of questions usually in printed
or electronic form are to be answered by the individuals. The forms often have blank spaces in
which the answers can be written. Sets of such forms are distributed to groups and the answers
are collected relating to research topic. A questionnaire is a series of questions asked to
individuals to obtain statistically useful information about a given topic.
When properly constructed and responsibly administered, questionnaires become a vital
instrument by which statements can be made about specific groups or people or entire
populations. Inappropriate questions, incorrect ordering of questions, incorrect scaling, or bad
questionnaire format can make the survey valueless, as it may not accurately reflect the views
and opinions of the participants. A useful method for checking a questionnaire and making sure it
is accurately capturing the intended information is to pretest among a smaller subset of target
respondents. In a research or survey questions asked to respondents, and designed to extract
specific information. It serves four basic purposes: to (1) collect the appropriate data, (2) make
data comparable and amenable to analysis, (3) minimize bias in formulating and asking question,
and (4) to make questions engaging and varied. For our study purpose a set of questions has been
prepared to collect information relating to the topic of the study. In this study a structured
questionnaire has been used with different types of questions such as closed ended and open
ended. Special case has been taken to select the scales for the questions for collection of
responses very effectively.
(b) Telephone, Mobile Phone and Facsimile
Telephone and other devices can be used for collecting data verbally and written on fax from
respondents located away from the researcher and having these facilities plus the researcher
having their contact numbers. Use of interviewers encourages sample persons to respond, leading
to higher response rates. Interviewers can increase comprehension of questions by answering
respondents' questions. It is fairly cost efficient, depending on local call charge structure. It is
good for large national or international respondents and gives wider coverage. It cannot be used
for non-audio information (graphics, demonstrations, taste/smell samples) this instrument is not
suitable for the respondents where the telephone facility is not available.
(c) Mail
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For collection of data from the respondents who are located at a long distance and do not have
any communication facility. They can be contacted through mailed questionnaire. Only thing is
required that the researcher should have the postal addresses of the respondents. The
questionnaire may be handed to the respondents or mailed to them, but in all cases they are
returned to the researcher via mail. The cost involved is very less but no clarification can be
given to the respondents if required. Respondents can answer at their own convenience. The
respondents cannot be biased by the researchers and the detail information can be collected for
the research purpose. Only one disadvantage this instrument gives is that the response rate is
very less due to lack of interest in the topic of respondents and low literacy rate.
(d) Interview
In this method the interviewer personally meets the informants and asks necessary questions to
them regarding the subject of enquiry. Usually a set of questions or a questionnaire is carried by
him and questions are also asked according to that. The interviewer efficiently collects the data
from the informants by cross examining them. The interviewer must be very efficient and tactful
to get the accurate and relevant data from the informants. Interviews like personal
interview/depth interview or telephone interview can be conducted as per the need of the study.
(i) Advantages:
Advantages of interview are following:
In this method information can be gathered from illiterate people too.
There are no chances of non-response as the interviewer personally collects data.
The collected data is very reliable since the interviewer tactfully collects the data by
cross examining the responders.
(ii) Disadvantages:
their
personal information.
To study the topic of the research out of available instruments for research mainly questionnaire,
interview and telephone/mobile phones have been used because these instruments were found
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suitable for data collection purpose. Mailed questionnaire has not been used because the need has
not been felt during the study.
4. Research Methods
For collection of primary data for this research work survey and observation methods have been
used. Experimental method is not found suitable for this study because the topic is a theoretical
topic and there is no need to have experiments. These two methods are explained below:
(a) Survey Method
Survey is used to collect quantitative information about items in a population. Surveys are used
in different areas for collecting the data even in public and private sectors. A survey may be
conducted in the field by the researcher. The respondents are contacted by the research person
personally, telephonically or through mail. This method takes a lot of time, efforts and money but
the data collected are of high accuracy, current and relevant to the topic. When the questions are
administered by a researcher, the survey is called a structured interview or a researcheradministered survey. When the questions are administered by the respondent, the survey is
referred to as a questionnaire or a self-administered survey. It is an efficient way of collecting
information from a large number of respondents. Very large samples are possible. Statistical
techniques can be used to determine validity, reliability, and statistical significance. Surveys are
flexible in the sense that a wide range of information can be collected. They can be used to study
attitudes, values, beliefs, and past behaviors. Because they are standardized, they are relatively
free from several types of errors. There is an economy in data collection due to the focus
provided by standardized questions. Only questions of interest to the researcher are asked,
recorded, codified, and analyzed.
objective of 'observing people in their natural setting - as they go about their everyday lives.
Observation methods can overcome some of the criticisms of quantitative research methods
(Validity, bias etc.) and can be useful when its subject can't provide information, or can only
provide inaccurate information. Out of available methods for collecting primary data, survey and
observation methods have been found suitable for the topic study. These have fulfilled the
requirements for data collection properly.
5. Sampling
(a) Introduction
The research is a systematic study to examine or investigate the issue or problem and find out the
relevant information for solution. For study data are to be collected from the respondents. It is
not possible to collect data from everyone of the population. Population is a very large number of
persons or objects or items which is not feasible to manage. A population is a group of
individuals, persons, objects, or items from which samples are taken for measurement. For
research purpose a part of the population is to be selected. Sampling is the process in which a
representative part of a population for the purpose of determining parameters or characteristics of
the whole population is selected. This is called a sample. It is easier to contact a smaller part of
the population for data collection. It can be done within a limited time, efforts and with minimum
cost. For selection of a sample special care should be taken that the sample is proper
representative of the whole population. Every segment of the population should be included but
the number should not be very large which may become difficult to manage within time and cost
limits. For this research study purpose out of different sampling methods the stratified random
sampling has been selected. The universe includes salesmen, wholesalers, retailers and customers
of selected companies located in different parts of Gujarat region. Out of Gujarat region main
cities like Ahmedabad, Vadodara, Surat, Rajkot and Bhavnagar have been selected. The salesmen
are selected from branches of companies and further on the basis of availability during visits.
Cities are divided into areas and from each area the dealers, retailers and customers have been
selected from urban and rural areas of these cities. They have been selected randomly. So
stratified random sampling has been used for the study. Keeping in view the proper
representation of every segment of population and manageable size of the sample, the sample
size selected is 400.
(b) Time Duration
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The permitted time by the university for completion of research study for Ph.D degree is two
years. Continuous efforts have been put to work on this research. It has been completed and
submitted within the permitted time period.
(c) Statistical Tools for Data Analysis
For data analysis measures of central tendency, standard deviation, variance will be used.
For testing of hypothesis F Test and T test will be used.
(d) Hypothesis
The following hypotheses have been tested with the help of statistical tools:
(i) Null Hypotheses: There is significant difference amongst sales promotion strategies of the
selected companies.
There is significant impact of sales promotion strategies on sales, number of customers,
overall profitability and business performance of selected companies
(ii) Alternative Hypotheses: There is no significant difference amongst sales promotion
strategies of the selected companies.
There is no significant impact of sales promotion strategies on sales, number of
customers, overall profitability and business performance of selected companies.
Limitations of the Study
To carry out the research study the following limitations were expected and faced during the
research study:
(a) Availability of secondary data from sales records of the companies were difficult.
(b) Salesmen, customers, dealers and retailers were reluctant or hesitant to share data.
(c) Management may not like to share their views on the topic.
(d) Time, cost and location factors become major difficulties in completion of research.
(e) Sample size may not be exact representative of the universe. There is possibility of some
error to a limited extent.
However, to overcome the limitations and maintain the effectiveness of research work sincere
efforts were put.
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Income group determines the sector in which a company wants to foray and be a market leader;
also knowing the income level of the customer will help the company to modify the products
according the buying capability of the customer, which depends upon the Income level.
Here we have divided the customers according to Monthly Income and found that the
most of the consumer income is below Rs10000, so they prefer only less costly
television.
There is also good amount of people of high income (Rs 350000+)
Here I can infer that there are all income level people available in this segment so
company needs a good product range.
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Inference
1. Majority of the consumer dont want to go for financial scheme.
2. 16% consumer is not a small amount, there is only Den Cable Network few company which
provide financial scheme
3. If Den Cable Network Company easily provides this scheme to consumer so they can attract
more customers.
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References
http://india-companies.com/technobile-systems-private-limited.HGyF.india-companyprofile.html
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http://www.technoble.co.in/about-technoble.htm
http://www.corp.att.com/attlabs/about/mission.html
http://www.indiainfoline.com/markets/company/background/company-profile/den-networksltd/35066
http://en.wikipedia.org/wiki/SWOT_analysis
http://www.equitymaster.com/detail.asp?date=10/10/2007&story=3&title=Zee-Ent-SWOTAnalysis
http://www.slideshare.net/vaibhav26121985/star-parivar
http://www.testout.com/home/certification/testout-network-pro-certification/network-proobjectives
http://en.wikipedia.org/wiki/Computer_network
http://en.wikipedia.org/wiki/Physical_media
http://www.tomsguide.com/us/building-a-home-network-from-scratch,review-150-21.html
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