Professional Documents
Culture Documents
A REPORT
ON
REPORT ON
SALES GENERATING STRATEGIES FOR
OUTLOOK GROUP'S MAGAZINES USING
CORPORATE PROMOTIONAL ACTIVITIES &
DIGITAL MARKETING
By
ii
AUTHORISATION
ACKNOWLEDGMENTS
It is my great pleasure to present this report of Internship at THE OUTLOOK GROUP. The
project is an important part of my study and gives me real practical exposure to the corporate
world and it is almost impossible to do the same without the guidance of several people.
I am extremely grateful to Mr. Indranil Roy, Chief Executive Officer, THE OUTLOOK
GROUP, and Prof. Director, ICFAI Business School, Pune for giving me this opportunity to
undergo Summer Internship Training for the period of 14 weeks.
I would like to express my immense gratitude to my company guide for guiding me right
from the inception till the successful completion of the training, Mr., Team Leader, THE
OUTLOOK GROUP.
I would also like to extend my gratitude to Prof., ICFAI Business School, Pune who
motivated me at every step of this program, who steered my course of 14 weeks to perfect
learning, and helped me without any chaos or hassle whatsoever.
I also wish to thank all the clients who patiently attended and availed the service.
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EXECUTIVE SUMMARY
The Summer Internship Program at The Outlook Group was about Sales and Marketing of
the company’s products. I, , Enrolment Number- 20BSP3063, PGPM 2020-22, ICFAI
Business School, Pune, worked on a project with the company for 14 weeks.
Outlook is a general-interest English and Hindi news magazine, it is a leading name print
media industry. Owned by the Rajan Raheja Group, the first copy of the magazine was issued
in October 1995. The Outlook Group’s headquarters is located at Safdarjung Enclave, New
Delhi.
The objective is to find, attract, and win new clients, nurture and retain old clients by the use
of promotional activities and digital marketing. To increase the outreach of outlook magazine
by presenting a diversified portfolio to the customers and understanding the buying behaviour
of the customer.
The project starts with a sales and marketing task. It includes studying consumer behaviour,
customer interaction, collecting revenue through selling subscriptions. It is followed by
analysing data to understand consumer buying behaviour. Data collection of 50 company’s
Promotional, Marketing, Pricing strategies and to recommend best of their practices to
Outlook group. Primary and Secondary data have been used, the methodology used to study
the consumer buying behaviour towards Outlook Group's magazine was a survey method
using a questionnaire as a tool. Respondents include magazine readers, prospects, and
suspects. For secondary data, different sources such as different websites and Journals were
accessed.
Findings imply magazines are well entertained, updated, and well informed. Subscribers have
a high demand for the improvement of services. Subscription schemes attract more
customers. People are highly interested in magazines but are not aware of the offers and
schemes. The recommendation for the group is that their prime focus should be on the
improvement of services and improving the distribution channel. Also a better renewal
reminder system for the customers.
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TABLE OF CONTENTS
AUTHORISATION................................................................................................................................i
ACKNOWLEDGMENTS.....................................................................................................................ii
EXECUTIVE SUMMARY...................................................................................................................iii
1 INTRODUCTION.........................................................................................................................2
1.1 Objectives, Scope, and Limitations........................................................................................2
1.2 Sources and Methods.............................................................................................................3
1.3 Report Organization...............................................................................................................3
2 INDUSTRIAL ANALYSIS...........................................................................................................4
2.1 Overview of the sector...........................................................................................................4
2.2 Major Players.........................................................................................................................6
2.3 Porter’s Five Forces...............................................................................................................7
3 ABOUT RAJAN RAHEJA GROUP.............................................................................................9
4 COMPANY OVERVIEW............................................................................................................11
4.1 History.................................................................................................................................11
4.2 Mission & Vision.................................................................................................................12
4.3 Company Products...............................................................................................................12
4.4 Organizational Structure......................................................................................................15
4.5 Management and Staff.........................................................................................................16
4.6 Major Financial Indicators of the Company.........................................................................20
4.7 SWOT..................................................................................................................................21
4.8 Competitor analysis.............................................................................................................22
5 PROJECT EXECUTION DETAILS............................................................................................23
5.1 Concept Description............................................................................................................23
5.2 Importance of the project.....................................................................................................23
5.3 Roles & Responsibilities......................................................................................................23
6 DATA ANALYSIS.......................................................................................................................32
7 CONCLUSION...........................................................................................................................38
7.2 Brief about accomplishments...............................................................................................38
7.3 Recommendations................................................................................................................39
7.4 Management Lessons...........................................................................................................39
8 REFERENCES............................................................................................................................40
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1 INTRODUCTION
1.1 Objectives, Scope, and Limitations
Objectives
1) Generating sales for Outlook magazine, to find, attract and win new clients.
2) To nurture and retain old clients by using digital marketing.
3) Analyse client's response, to understand consumer buying behaviour toward the
magazine.
4) To work on improving convincing skills, extract my potential to the fullest to
achieve remarkable sales targets.
Scope
1) In the summer internship program, the work entitles doing Marketing and Sales
for
Outlook India Group’s Magazines, generating leads for the company, convincing
them, and converting them into actual customers. The Outlook magazines are
available in Hindi and English versions as printed form.
2) The motive of this SIP is to maximize the sales for the Outlook magazines. To
visit
Corporate offices around the Nagpur city and pitched them about the magazines
and their Contents. The quality of Outlook magazine's content is good and it
captures information related to every sector so it has the scope to become the
market leader.
3) Outlook magazines are read by the elite, top politicians and Bureaucrats,
Actors, Entrepreneurs. People dealing in financial markets or interested in
business news. Feedback has been collected from both, the people who already
subscribed to Outlook Magazines and those who are willing to.
Limitations
1) Some of the previous clients were unwilling to renew the subscription as they
complained about late delivery of magazines and gifts (Outlook's competitor India
Today delivers magazine within 2 weeks from the date of subscription).
2) A large number of new players have entered the market and reviving to gain
market share. Fourteen weeks is a too short time to understand every aspect of
business with Outlook India Group Magazines.
3) The impact of the Coronavirus pandemic was immense. While dealing with
businesses, since there was limited staff, it was difficult to meet the key decision-
maker, so the meeting was mostly telephonic.
4) Some were not willing to incur this extra cost amid the pandemic as they were
focusing on cost-cutting.
5) Because of the Coronavirus, many potential customers preferred to buy digital
subscriptions of magazines.
1) The methodology used to study the consumer buying behaviour towards Outlook
Group's magazine was a survey method using a questionnaire as a tool. A
scheduled questionnaire was administered to the customers and potential
customers for their response and to study the various factors which can help for
sales generation. The questionnaire has been attached as annexure 1. Factors that
play an important role in the buying decision of a consumer were identified by
administering the survey.
2) Marketing and Sales was an integral part of this internship. Accordingly, leads
were generated for the company by contacting prospects and converting them into
customers. The motive of the internship was to maximize the sales for The
Outlook Group’s magazines. More than 60, different offices were visited and 20
new leads were generated before lockdown. Emails about the magazines and their
contents were sent along with sample copies to them. 9 leads were converted.
1.3 Report Organization:
Following is the chapter scheme for the report:
Chapter 1: Introduction
Chapter 2: Industrial Analysis
Chapter 3: Company Overview
Chapter 4: Project Details
Chapter 5: Data Analysis
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2 INDUSTRIAL ANALYSIS
2.1Overview of the sector
Print Media, as anyone can understand refers to paper publications such as books,
newspapers, magazines, journals, newsletters, and other materials that are printed on
paper.
Print media plays an important role as it is considered to be the most trusted source of
information and news, it continues to generate higher engagement from creative
publications.
The history of Print Media can be traced back to 1440. There was a printing press by
Johannes Gutenberg who first invented this idea of printing text. Later, almost for 600
years or so, it is considered a primary source of news. The global print media market is
expected to grow from $287.87 billion in 2020 to $313.28 billion in 2021 at a compound
annual growth rate (CAGR) of 8.8%.according to one of the leading business research
company.
According to Statista Research Department, The value of the print industry across India
was estimated to be over 190 billion Indian rupees in 2020. This was expected to go up to
over 258 billion rupees by 2023, indicating a compound annual growth of just around
eleven percent.[ CITATION Sta21 \l 16393 ]
The Publishing businesses in India and all around the world can be seen getting scattered
all over the nation and most of them are carried out on a proprietor basis. The idea behind
it is to cater to the needs of local markets, producing titles in regional languages to deliver
news to every citizen, in a country like India where citizens speak more than 20 plus
languages. In the financial year 2018, it was observed that the print circulation revenue in
the south Asian country was led majorly by the Hindi-speaking market with a revenue of
up to 40 billion Indian rupees. Not leaving behind employment it produced. Employment
was also increased over the last decade and is estimated to cross the 90 thousand mark in
2022.
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The literacy rate in India is increasing, the interest of young and old citizens to stay up to
date with current affairs is also increasing. The Hindi language daily newspaper, Dainik
Jagran had the highest readership in India, with about 70 thousand readers in 2017.
In other markets, the level of impact of the digital ecosystem is a serious challenge. It is
not the case with print media, the newspaper revenue streams in the nation have not faced
serious challenges from the digital innovation. Senior citizens still prefer to keep it old
school when it comes to getting their daily entertainment and information.
Value of the print industry in India from 2007 to 2020, with estimates until 2023(in
billion Indian rupees)
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According to government records, as of 31st March 2018, India recorded more than
100,000 publications registered with the Registrar of Newspapers for India. It has the
second largest market for newspapers in the entire world, with more than 240 million
copies of daily newspapers reporting in circulation. According to French NGO, Reporters
without Borders, 2020 annual ranking report of countries based upon the organization's
assessment of its Press Freedom Index. Indian was ranked 142th out of 180 countries,
which was a drastic setback from the previous year's report.
ix
Michael Porter's five forces is a systematic framework that helps to analyse the
potential profitability of any industry. In the last decade, the print media especially the
magazine publishing business has seen rapid changes in profits and losses due to several
factors like technological advancement, the information is available online, financial
calamity, etc. To understand the overall scenario Porter’s Five Forces is made use of.
[ CITATION spy21 \l 16393 ]
xi
Rivalry among existing competitors in the industry can be fierce. It may differ
because any competition will differ among the brand-positioning models.
A niche publisher that has a strong core focus will surely face less intense competition
than the one with a broad consumer magazine without such focus.
In general in the print media industry, small and big publishing business faces some strong
challenges in terms of substitution and competitive rivalry, but with focus on leveraging core
strengths, it can help to make less severe the weaknesses. Organizing the magazines around
core audiences with focused messages is important.
Rajan Raheja is an Indian billionaire businessman, born in 1953, started his carrier
working in his family’s real estate business. After a family split, Mr. Rajan Raheja started
his own venture The Rajan Raheja Group. In the years that followed he decided and
successfully diversified his business into various other sectors.[ CITATION wik21 \l
16393 ]
Rajan Raheja formed a construction firm named R. Raheja Properties in the year 1981
and currently serves as one of its board members. Rajan Raheja Group collaborated with
Supreme Industries Ltd. To venture into the business of petrochemicals. Since 1989 he
has been a member of the joint venture named Supreme Petrochemical Ltd.[ CITATION
ind211 \l 16393 ]
Later in the year 1992, Rajan Raheja Group moved into the business of building materials
sector with the formation of Karan Cement Ltd. The name of the company was later
changed to Prism Cement Ltd. in 1994. To grow further in the building materials sector,
they acquired the ceramic tile manufacturer H & R Johnson (India) in 1993.
Mr. Raheja is the owner of Exide Industries Ltd. He bought the majority stake in the
battery maker Excide Industries Ltd. in 1994 and it is Mr. Raheja’s biggest asset, earlier
he served as one of its board members.
Rajan Raheja, over the years, has had holdings in several hotels and hospitality business,
and he has been a board member in many of them, some of them are Juhu Beach Resorts
Ltd., EIH Associated Hotels Ltd. (1993-2015), EIH Ltd. (2002-2014). In 2018 Prism
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Cement was renamed Prism Johnson Ltd. 2018 and Rajan Raheja continues to be on its
board.
Other industries in which Rajan Raheja Group has interests are the cable TV and
broadband Internet services sector with Hathway Cables & Datacom Ltd. (in which
Mukesh Ambani’s Reliance Industries has a majority stake), the finance and insurance
sector with Exide Life Insurance which was formerly known as ING Vysya Life
Insurance Co Ltd.
Mr. Rajan Raheja is among the top 30 richest people in India with Forbes calculated his
net worth to be $ 2.6 Billion as of 15th May 2021.
xiii
4 COMPANY OVERVIEW
4.1History:
Outlook is a weekly general-interest English and Hindi news magazine published in
India. Outlook magazine is owned by the Rajan Raheja Group.
The Outlook magazine was first issued in October 1995 with Vinod Mehta as the
editor in chief and ace marketer Dilip Shourie to market it. Mr. Vinod Mehta was a
journalist, editor, and political commentator, he was editor in chief of Outlook Group
from 1995 to 2012. After Mr. Vinod Mehta, it was Mr. Krishna Prasad who was editor
in chief of news magazine Outlook until 2016.
Mr. Ruben Banerjee is the current editor-in-chief of the news magazine Outlook. Prior
to this he Mr. Banerjee was the National Affairs Editor of Hindustan Times. A
journalist with more than three decades of experience, he had previously worked with
Al Jazeera, India Today, and Indian Express.
The Outlook Group’s headquarters is located at Safdarjung Enclave, New Delhi.
Outlook Group have an office in Mumbai, Kolkata, Chennai, Bangalore, and
Hyderabad.
The publisher is Outlook Publishing (India) Pvt. Ltd.
The Outlook Group is a leading name in the print industry and is the Publisher of titles
namely
OUTLOOK WEEKLY
OUTLOOK BUSINESS
xiv
OUTLOOK TRAVELLER
OUTLOOK HINDI
OUTLOOK MONEY
Outlook magazines feature content from politics, sports, cinema, and stories of broad
interests. By December 2018, Outlook magazine's Facebook following had grown to
over 12 lakh (1.2 million)
Outlook is considered as India's most vibrant current affairs and news magazine, it is
well known for its bold and aggressive reporting. From the launch of the magazine, it
is known for raising questions many had in their minds but never dared to ask.
4.3Company Products
1. OUTLOOK WEEKLY
OUTLOOK Weekly is one of India’s most vibrant general-interest magazines. It was
launched in the year 1995. It has always been known for its bold and aggressive
reporting. It is published from New Delhi and printed at multiple locations.
The cost of Outlook weekly magazine is Rs 70 and is published on weekly basis, it is
the flagship magazine of the Outlook group.
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2. OUTLOOK BUSINESS
Outlook Business magazine was launched in 2006 by
Rajan Raheja Group’s Outlook India magazine and has
grown to be the second-largest business magazine in India.
It has three thrust areas – enterprise, strategy, and markets. It mainly focuses on
mature companies and strong leadership in business and the section of the market
delves majorly on key trends driving them.
[ CITATION Out21 \l 16393 ]
Even though it is the youngest Indian business magazine, it has proven itself and has
been breaking ground and bringing readers relevant business stories.
It covers interviews with top business leaders like Warren Buffett and Bill Gates. It
has secret dairies of India's leading businessmen and
top company CEOs.
The cost of Outlook Business magazine is Rs. 50. It is
a monthly magazine, where every month its subscriber
gets a copy of magazine home delivered via courier.
3. OUTLOOK TRAVELLER
Outlook Traveller magazine is said to be a mine of
detailed information for those who are interested in
serious traveling. Outlook Traveller magazine is a joy
to read and easy to use. Its travel content is peerless and photographs are stunning.
[ CITATION out21traveller \l 16393 ]
It constantly strives to bring to its reader a high level of travel writing and meaningful
information that one can read in his/her armchair, on a beach, or upon a mountaintop!
xvi
It keeps the readers of the magazine up-to-date with the latest ongoing trends in travel
and tourism.
Outlook Traveller magazine postcard beautiful
visuals, practical advice, and atmospheric travel
experiences which make it an engrossing, refreshing
read. It is a monthly magazine and the cost of the
magazine is Rs 100.
4. OUTLOOK HINDI
OUTLOOK Hindi is not a translation of its English
counterpart, OUTLOOK English weekly magazine. It
is for the audience who prefer reading Hindi
magazine, so it is customized according to the Hindi
reader's interests, keeping their aspirations and realities in mind.
The parallel editorial team of Outlook Hindi retains core strengths, just like other
Outlook English magazines with objective, fiercely impartial, and bold journalism,
while owning a brandishing identity.
Initially, when launched, it was sold only at the stalls
or book stores and not through online subscription,
that’s not the case now. It cost Rs 25.
5. OUTLOOK MONEY
Outlook Money magazine is a finance specialist, it is
considered to be No. 1 personal finance magazine.
Outlook Money magazine was launched in 1998 since
then its prime motive is to provide in-depth analysis
and sound advice on all the facets of borrowing
wisely, investing, and spending smartly.
It acts as a money manager who covers issues that range from the best share to buy to
the right insurance products for their readers.
[ CITATION out21money \l 16393 ]
It includes topics from different sectors, which include banking, insurance general and
insurance decoder and mutual funds, etc. All the information is provided in an easy-
to-understand language.
xvii
4.4Organizational Structure.
VICE PRESIDENT
GENERAL MANAGERS
DY GENERAL MANAGERS
NATIONAL HEADS
REGIONAL MANAGERS
SENIOR MANAGERS
xviii
ASSOSIATE MANAGERS
Business Office
CHIEF EXECUTIVE OFFICER
Indranil Roy
PUBLISHER
Sandip Kumar Ghosh
SENIOR VICE PRESIDENT
Meenakshie AkashVICE
VICE PRESIDENTS
Shrutika Dewan, Diwan Singh Bisht
SR GENERAL MANAGERS
Debabani Tagore, Kabir Khattar (Corp)
GENERAL MANAGERS
Sasidharan Kollery, Shashank Dixit, Shailender Vohra
CIRCULATION & SUBSCRIPTION
Gagan Kohli, Kapil Dhal (North), G. Ramesh (South) & Arun Kumar Jha
(East)
xix
DIGITAL
Amit Mishra
xx
The Outlook Group follows Subscription based business model where they charge their
customers for the product and services they avail on a recurring basis. Here The Outlook
Group gives the option to their customer to choose how long and how often they wish to
receive their product or services. They also get a chance to renew or cancel their subscription.
The Outlook group offer magazines such as Outlook Weekly, Outlook Business, Outlook
Traveller, Outlook Hindi and Outlook Money. The customer gets to choose the magazine they
desire and how long they wish to get the magazines delivered at their address.
Price
The price of the Outlook magazines or subscription is decided after analysing the
pricing strategy of its competitors. The slight decrease in price may account for a high
profit. The price of Outlook magazine varies from magazine to magazine.
For better understanding the cost of Outlook Weekly is Rs. 70 varies to cost of
Outlook Traveller magazine is Rs. 100. It depends on the money which is invested for
each magazine and is also affected by the market which is targeted.
The pricing is usually low as the Print media industry, especially magazines depends
on revenue which is earned from advertisement, so it is more concerned with the
increase in subscription base so as to attract more advertisement companies.
Product
Different products are defined depending to different segments, Outlook is trying to
cover each segment. For understanding, Outlook Money and Outlook Business
majorly aims to target the working class and corporate world.
Moreover, Outlook Hindi is not merely the English version of Outlook English
magazines, it if for people with limited access or interest to English language.
Different Outlook magazines aims at particular market and age group respectively.
xxi
Place
The place is selected for the product, understanding, its target market and the
concerned age group.
The magazines that have high profitability are to be sold among the elite class are
targeted to malls etc. on the other hand Outlook Traveller magazines are to be targeted
to the travel agencies or car rentals and places like airport. There is huge impact of
place on sale of magazines.
Promotions
The Outlook India magazine adopts different promotional strategies where they aims
at organizing events at malls or offering free promotional items like travelling bag
which is given as gifts.
For sales employees do Outbound calling to customers directly to inform them about
the available exciting offers for the magazine subscription. Outlook is focused on
promotional activities as and invest in it to increase the subscription base of Outlook
magazines.
Marketing Strategies
1. Mass Impersonal selling methods (Advertising, Sales promotion and Public relations).
Pull Blend.
2. Personal selling (Face to Face, salesmanship).
Push Blend.
Mass Impersonal selling, It is a marketing strategy through which organisation
increases demand for its product and draws consumers to its product, a pull
promotional strategy revolve around, to get, consumers to want a particular product.
The main goal is to make its consumer actively seek product that is magazines, which
will make retailers to stock the magazines in response to the demand.
The different pull marketing methods includes Social media networks, Sales
Promotions and offering discounts and Advertising and Email Marketing.
Push blend method majorly give emphasis on personal selling, it is a promotional
strategy which involves directly taking the product to customer irrespective of any
means.
xxii
This is done so as to ensure that the customer is aware of the brand and product it is
offering at the point of purchase.
It requires a strong sales force at the distributer and dealer level. It pushes the product
through the channel of distribution.
Outlook Outlook
OutlookIndia.com
Weekly Money Getaways
Magazine
Outlook
Outlookbusiness.com
Events Books
Business Internet Division
Division Division
Personal
Division
Outlook Finance
Outlooktraveller.com Show OLM Guides
Traveller
Outlook
Outlookhindi.com
Hindi
OLM Outlook
Outlook Awards Classic
Outlookmoney.com
Money
xxiii
Source of financing
Subscription Division;
16.00%
4.7S
W
O
Retail Division; 18.00%
T
Advertisement;
.
62.00%
Event Sponsorship;
4.00%
Strengths
1) The Outlook Group publishes five magazines, Outlook weekly, Outlook Traveller,
Outlook Money, Outlook Business, and Outlook Hindi, these magazines cover a
major segment of the market, which helps The Outlook Group to fulfill the needs of
the different age groups who belong to different sectors.
2) The Outlook Group has well-organized and experienced staff.
xxiv
3) It is well known for the quality of the content it provides in magazines. The content is
innovative and customer-oriented with exclusive photography and articles.
4) The company provides discounts, attractive offers and special gifts on the subscription
of magazines.
5) It has a strong distribution network, a good brand name, and a reputation in the
market.
Weakness
1) As it has a large customer base across India, Order processing time is more because of
which magazines and gifts are often delivered late than promised.
2) It has not achieved International popularity yet, despite being one of the leading
magazines in India.
3) Many subscribers feel that Outlook magazines are expensive and left-wing oriented.
4) Minimum four weeks' time is required to deliver magazine and two months to deliver
gift after buying a subscription.
Opportunity
1) Outlook group magazines can increase their circulation by offering special
subscription offers for college students and new working professionals. Good
promotional schemes can help to retain existing customers and to attract new ones.
2) The popularity of magazines can be increased by making good use of social media for
advertisements.
3) The quality of content is good and captures information related to every sector so it
has an opportunity to become a market leader.
4) The company can increase its product line by launching new magazines related to the
Auto industry and Technology.
Threats
1) The Outlook magazine has strong competition like Indian today and The Week, India
today has captured a big market share already.
2) With technological advancement there is more demand for digital media than print
media, as sharing information on TV, Radio, and Mobile Internet has increased to a
huge extend.
3) It is often perceived as an ideologically left inclined magazine by some of the readers.
xxv
4.8Competitor analysis.
MAGAZINE
xxvi
Knowledge Jockey
xxvii
Knowledge Jockey has been introduced by The Outlook Group for the ease of employees
working with the company and the interns. It creates an in house profile which provides
an opportunity to the interns earn by means of sales and marketing of magazine. It helps
interns to learn and earn simultaneously.
Knowledge Jockey is useful for understanding finer nuances of doing business online.
Amid pandemic, working from home, it is one place for everything. Interns can easily
track their performance via Knowledge Jockey, it helps interns to know the sales done by
them till date in fraction of second.
Post sale the intern can access his past sales record through it. It comes with complete
security because even tough interns can see the sales done by them, what they cannot see
is the details of the customer, the financial details and the card number or CVV pin the
customer or any of his bank details.
It helps the interns to get the sales done far easier as compared to casual sale, because it
comes up with unique link, through which special offer can be offered to the customers. It
helps the intern to get the sales done.
xxviii
Offers on Subscription
In print media industry, especially magazine groups the customers are constantly looking for
the best offer available. The competition is so high, the loyal customers switches to the
competitors magazines as per the offer. So Outlook group is continuously providing offers to
its subscribers.
Outlook group has come up with a triple advantage offer, this offer is being currently offered
to its customers, where the customer gets a bag as a gift. There are two different bags offered
by Outlook depending on amount spend on subscription.
When a customer purchase magazine subscription, if he spends Rs. 5899/- and above he gets
a Travelling bag as a gift. If the customer spend Rs. 8549 and above he get a Duffle strolley
as a gift from Outlook magazines.
Outlook also has a extra privilege offer which is valid by invitation only. Here the interns get
advantage to sell the subscription as they can use their link to offer this, invitation only, offer
to the potential customer.
In addition to this, if the customer is spending in-between Rs. 1299 to Rs. 2498, then the
customer gets a cash discount of Rs. 100. Similarly if the customer is spends in-between Rs.
2499 to Rs. 4448 the customer gets a cash discount of Rs. 200.
xxix
Spending between Rs. 4449 to Rs. 6648, then the customer gets a cash discount of Rs. 500
and spending in-between Rs. 6649 to Rs. 9548, then the customer gets a cash discount of Rs.
1000. The customer also gets a chance to get magazine free for almost 3 to 6 months
depending on the purchase he makes.
Outlook group gives priority to customer retention a lot. Many companies spend huge amount
on customer acquisition instead of focusing on customer retention. Study says customer
acquisition costs minimum five time more than customer acquisition. Selling a product or
service to a customer who is already aware of product is easy, as they have understanding and
company don’t have to attract, educate and convert it into sale.
The companies who shift their focus from customer acquisition to customer retention find it
to be more efficient process to generate revenue for the company. It is only because they are
marketing their product or service to a customer who have already expressed their interest in
that product or service.
Outlook believes to adopt strategies that are customer oriented, even though customer
retention is important for Outlook, the company is always focused on hunting for new
customers. Attracting the new customers is important for Outlook because of the presence of
strong competitors. CRM plays very important role to create and nurture customers.
Customer relationship management deals with principles and practices of any organisation
which their employees follow while interacting with the customers.
It is often associated with technology and systems that helps to manage interactions with the
customers. Mainly CRM technology revolves around cloud computing and artificial
intelligence.
xxx
Sales promotion implies the process where customer is persuaded to buy the product, which
is done keeping a short term objective in mind, with a goal to boost the sales for the particular
period of time. It is not a method which is suitable for long term customer acquisition. There
are different sales promotion strategies which are aimed at consumers while on the other hand
some are targeted at firm sales forces while other at intermediaries.
xxxi
Here the salesperson gets a chance to understand or generate the need for the
magazine before the customer, after building an effective relationship with potential
customers.
4) Initial Contact
Initial contact can be done via cold calling or via sending an email. The first approach
to a customer plays an important role as it directs the pitching of the product. Once
the customers are found to be interested they can be explained in detail about the
magazines, their content and the discount for subscribing and the gifts offered with a
subscription.
Figure shows screenshot of E-mail sent as part of E-mail marketing and advertisement
done for the company to generate sales
5) Presentation
After cold calling, once the potential lead is generated then the final product has to be
presented to the customer in an effective and efficient way, and explain the features
and advantages of the magazines. Explaining how Outlook magazine is the best
possible option for the customer is the responsibility of the salesperson. While
explaining the product showing the gifts offered along with the magazines, and
showing a hard copy of the magazines is also important, so as to gain the trust of the
customer.
6) Objection Handling
For a person who is willing to pay for the product, it is obvious to be reluctant to pay
without surety, the potential client even after acknowledging the worth of the product
xxxii
is important to maintain the customer by taking regular close to following up, to retain
the customer in a long run. The order details has to be filled by the customer and it
also provides option of online payment by CCAVENUE and PAYTM.
Data sourcing was done where data of 50 companies was collected, which will be
used in future by Outlook Group.
Companies selected are from different sector such as Education, Pharma, IT, Media,
Hospitality, Production (FMCG and FMCD) etc.
Data collected about each of the companies is with respect to the point of contact like,
Name of Company and its employee, designation, phone number.
Number of employee working in company, services or product offered.
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Number of users of most selling product and least selling product or services.
The strategies followed by companies
1) Marketing Strategy
2) Promotional Strategy
3) Pricing Strategy
And Vision and Mission of company along with recommendation.
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Social networking website such as LinkedIn was used to connect to the working
professionals of company for accurate information. Company website was used to get
the vision and mission of companies.
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6 DATA ANALYSIS
Here it is observed that the percentage is distributed among all the different categories and
majority of the people prefer reading Travel and Tourism, its percentage is 23.8% of the
people and 21.3 percent for General News magazine, whereas on the other hand Hindi and
Political news has the least choice. Outlook magazine group have no specific magazine for
the people interested in Fashion and Lifestyle, which can be an opportunity for the group.
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B.
Here according to survey conducted, it observed that majority of the customers prefer
Outlook Hindi magazine, it is the only magazine which received the preference of more than
35 percent. The second most preferred magazine is Outlook Traveller with the percent share
of almost 33 percent.
Amid internship in the area of Nagpur district Outlook Business and Outlook Traveller was
the most preferred magazines. The demand for Outlook Hindi is least among five Outlook
magazines.
C.
The most preferred magazine is India Today magazine, the second most preferred magazine
is Forbes India magazine, which is followed by Outlook magazines.
It is crystal clear than India Today is the biggest competitor of Outlook magazine. Car India
magazine is less desirable to the customers among the four magazines
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D.
Here it can be seen that the majority of customers are not satisfied with the delivery service
of Outlook magazines. More than 30 percent couldn't get their magazine delivered on time.
The customer service of the group is not satisfactory and the major issue is with content, it
was found to be repetitive from some customer's points of view.
E.
During the internship period most of the potential customers or the existing customers were
reluctant to buy/renew Outlook subscription because of the delivery issues they faced.
The competitor of Outlook magazine deliver the magazine much sooner as compared to the
delivery time of Outlook magazines. There are very less customers who are satisfied by the
delivery of magazines.
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F.
Here it is observed that more than 70 percent of people have not yet subscribed to Outlook
magazines. It means there is high scope of marketing the product to the potential customers
through different sales generating promotional strategies.
G.
During the internship, customer retention was a difficult task to do, as it was observed that
many customers were not happy with the service of Outlook India.
Here it is observed that almost half of the existing subscribers are not sure about continuing
the subscription. Outlook must solve the issues to avoid the problem of customer retention
and focus on satisfying customer’s needs.
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H.
According to the survey conducted it is observed that most of the people were aware of The
Outlook Group’s magazines. Majority of them have heard of the magazines from friends and
relatives, almost 50 percent of them.
During internship most of the working professionals were aware of Outlook magazines
because of social networking sites such as LinkedIn and Facebook.
I.
The Pie chart shows the monthly budget of customer’s who are willing to spent on their
favourite magazine. The majority is of 33 percent who are willing to spend 150 to 300 on
magazines. The second highest is almost 31 percent who are willing to spend 100 to 150 Rs.
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J.
The Pie chart shows the percent of customers who feel gifts and magazines offered by
Outlook are meaningful.
High percentage of customers i.e. almost 44 find the magazines meaningful along with the
gifts which are offered along with subscriptions. There are less than 9 percent who don’t find
the gift meaningful.
1) The Outlook Group’s magazine have a tough competition from India Today
magazines.
2) Maximum readers of Outlook magazine prefer English over Hindi magazine.
3) Magazines are well entertained, well informative with good quality of content.
4) People are interested in magazines but the awareness is low about the schemes and
special offers offered by the company here implantation of promotional strategies is
important.
5) A lot many people are concerned about the improvement of services as the delivery of
magazine takes more time than promised.
6) Subscription offers, the gifts, attracts more customers and it plays a good role in
increasing the sale of subscriptions.
7) The quality of magazines is good, so the price according to quality of magazine
justified.
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7 CONCLUSION
7.1Inference Of Project
Corporate Promotional Strategies play a very crucial role for generating sales of any
product or service. It plays important role because of the tough competition in market,
where nearly similar products and services are available, same is the case for
magazine industry. The purchasing patterns in today’s time has become more volatile.
Consumers in the market are now more aware of the alternative available to them.
The promotional schemes offered by Outlook are right on track, the gifts offered
against subscription is resulting in acquisition and conversion in sales. During market
survey it was observed that the existing customers where not satisfied with the after
sale service of Outlook magazine. There was no timely delivery of magazines. Some
of the potential customers were reluctant to subscribe to magazine, because magazine
is considered to be in favour of a political ideology. This dissatisfaction sometime
cause loss in sales.
The proper implementation of assertive Promotional strategies will result in
improving subscription sales and will also improve the market share of Outlook
magazine.
This can make considerable contribution, helping Outlook magazines to become
leader in Print media magazine industry.
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Along with other information like details of person of contact, most selling and least
selling product or services and completed the task within assigned time period.
7.3Recommendations
To Motivate Customer by Implementing Effective Promotional Schemes. From
the market survey and data analysis it is clear that most motivating factor for customer
to buy Outlook magazine subscription is the gifts and discounts offered. The common
opinion of most of the customers is that, good gift is one which have good brand
value associated with itself or the one which have good utility.
Customer Retention, Better Distribution Channel, Improvement of Services, in
the world of sales and marketing it is often said that customer acquisition is good but
customer retention is much better. It is true because the money invested on acquiring
new customer is much higher than retaining the existing customer. The Outlook
Group must priorities customer retention and loyalty programs to retain their
customers, and not losing them to their competitors. Many customers were unwilling
to renew the subscription because of the time taken to get magazine delivered.
Understanding customers’ expectations for gaining customer loyalty, by
delivering improved magazines. Amid 14 weeks internship, during market survey
and analysing the data collected, it was understood that Outlook is often seen as
ideologically left centric magazine. As the quality of content and coverage is
subjective in nature, the group must try to identify what are the weaknesses of the
content of magazine. A detailed survey and customer’s feedback can help
understanding the problem and customers’ expectations. Restructuring the magazine
after understanding customer expectation will boost the sale of magazines.
7.4Management Lessons.
The summer internship program gives the opportunity to apply the theoretical
knowledge learned in the classroom in a practical corporate world.
SIP gave me the opportunity to gain knowledge, learn and understand how things
work in the real corporate world, which ultimately helped me to develop my
confidence, because of which I got a chance to pitch the product to several potential
customers.
Got opportunity to understand how to contribute to increase the revenue of the
company by increasing sales for it, by successfully converting maximum leads into
sales.
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Also learned the importance of customer relationship and the power of word of mouth
advertisement and attracting customers via email marketing.
The experience of working with The Outlook Group helped to bridge the gap between
what is taught in class and the how to implement the learning in corporate world.
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8 REFERENCES
1) (Business, 2021), Available at: https://www.outlookbusiness.com/about-us
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9 ANNEXURE
Outlook (Indian magazine) Survey Form
NAME *
AGE *
Less than 20
20 - 35
35 - 50
More than 50
GENDER *
Female
Male
Other
EMAIL ADDRESS*
EDUCATIONAL QUALIFICATION *
Higher Education
Graduate
Post-Graduate
Ph.D.
OCCUPATION *
Student
Service
Business
Retired
Unemployed
YEARLY INCOME *
Under 3 lakh
3 to 10 lakh
10 to 15 lakh
15 lakh and above
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Outlook Business
Outlook Money
Outlook Traveller
Outlook Weekly
Outlook Hindi
4) What are the difficulties you face while receiving the magazine? *
Delivery time
Customer service
Old content/News
Other:
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Yes
No
Yes
No
Maybe
Friends/relatives
Newspapers/magazines stalls
Internet
Advertisement
Hoardings
Yes
No
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Maybe
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