Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Submitted to,
Organisation Mentor
Submitted to,
Institute Mentor
Submitted by,
Pratiyush K Rai
PGDM06(2015-17)
B037, 80011215119
Name of Company Guide: Mr. Anuj Chhabra (Assistant Sales Manager, Outlook India)
Signature of Guide: _____________
Date: 28-05-16
Acknowledgement
I am thankful to My Organisation Mentor Mr. Anuj Chhabra who continuously
reviewed my Work during Internship and provided me an opportunity to understand
the various challenges that Indian Print Media is facing in Current time, it was a great
opportunity to understand what it takes in background before country reads nations
best News Magazine.
I am Grateful to my Institute Mentor Prof. Dorai, Who understand both the Academic
and Industry Expectations from an MBA intern very well and guided me at different
stages of my internship.
[Pratiyush K Rai]
Executive Summary
The Internship at Outlook Magazine Provided an opportunity to understand the challenges
faced by traditional Print Media from newer forms of News Communication such as Social
Media and e-updates. The Phenomenal advancement in Information Technology and its
subsequent impact on Media and News Industry has closed the business of many well-known
Media groups who even after Producing the Good content were not able to survive as they
lost the customer value proposition to digital and Social Media.
Outlook group is facing similar problem of high customer churn-out because they are not
renewing their subscription and hence revenue generation has become quite challenging,
though Outlook has started their digital version as well as App, however these two things are
not sufficient to meet the challenges, hence Outlook is focusing on printing those magazines
whose content is and will remain relevant in the near future like Investment, Travel, Business
etc.
During my internship I learned how outlook sales is facing cumbersome task of achieving the
targets, on the other hand in Business to business (B-2-B) they are looking for Advertisement,
hence it given an opportunity to learn how revenue is being generated through Magazine
sales and Advertisement.
Table of Content
Contents
1. Print Media Industry Overview ........................................................................................................... 8
Future of Indian Entertainment and Media (E&M) Industry .......................................................... 9
Print Media: Industry Profile ......................................................................................................... 10
2. About Outlook India. ......................................................................................................................... 11
About Products of Outlook Group ................................................................................................ 12
3. Outlook India Business Model Canvass: ........................................................................................... 14
4. Marketing Strategy at Outlook India ................................................................................................ 15
Business To Customer(B-2-C) ........................................................................................................ 15
Business to Business (B-2-b) ......................................................................................................... 16
Sample Cover-on-cover (CoC) Template ....................................................................................... 17
Lead Sourcing at Outlook Magazine through Zomato and Just Dial. ............................................ 18
5. Reason behind the High churning rate of Outlook Magazines. ........................................................ 19
6. Customer Retention Strategy at Outlook. ........................................................................................ 20
Digital Subscription (E-Magazine and App Based) ........................................................................ 20
Gift Offer on Subscription. ............................................................................................................ 20
7. Customer Relationship Managemnt(CRM) at Outlook Group:-Flowchart. ...................................... 21
Customer Response Log sheet. ..................................................................................................... 22
Sources of Revenue for Outlook India .......................................................................................... 23
Indias Top 6 English Magazines (Readership Wise) ..................................................................... 23
8. Competitive Analysis (Outlook Group vs. India Today) .................................................................... 24
9. Customer Survey ............................................................................................................................... 25
Data analysis and Interpretation .................................................................................................. 25
10. SWOT Analysis................................................................................................................................. 30
11. Recommendations .......................................................................................................................... 30
10. Annexure ......................................................................................................................................... 31
Cover-on-cover Proposal. ......................................................................................................... 31
12. References ...................................................................................................................................... 33
10
Status
Continue
Continue
Discountinued
Discountinued
Discountinued
Discountinued
Sold
Continue
Continue
Continue
Sold
Most of the Products which have been discontinued by outlook group were Market leaders in
their respective segments, however the revenue generated from those products was not
sufficient to run the business and the story is more or less similar for Print media in India or
Abroad.
11
Outlook People
Outlook Business OUTLOOK Business, in the true tradition of the OUTLOOK group, has
as its aim no less an objective than the complete rewrite of what has
been tried by the way of business journalism in the magazine space.
Targeted at decision makers, the product focuses on important business
issues and developments with a view to providing clear takeaways
impact and implications for decision-making. A holistic approach
ensures all influences on business: economic, political, and markets
driven are examined.
Outlook Money
Newsweek
12
Outlook
Traveller
GEO
Marie Claire
Careers 360
13
14
Direct
Marketing
Database
Marketing
Cold Calling
Post
All the sales people were provided with database of those subscribers whose subscription
was about to expire.
These people will call the subscribers and will inform them about the current status of their
Subscription , in case if subscrition is about to expire they will request the subsciber to renew
the Subscription through online payment or through sending Cheque to the Outlook Head
office.
However Outlook is facing a Customer churning rate of 15% and new customer subscription
is around 12%, thus a net loss of 3%, another important observation is that those who have
discountinued the Outlook suscription were long term readers of Outlook Magazine i.e Loyal
Readers and the new subscribers are lacking loyalty and this patter was uniform in most of
the Print media.
15
Cover on
cover
Direct
Promotion
Hotels
Tourist
Resorts
Showrooms
16
17
18
The Previous decade has observed a substantial changes in the reading pattern of Public at
large, few years ago people used to read the Magazines to know the current events , however
Generation Y{Born in 90s) prefers digital medium, social media to remain updated about
day to day happenings. As of now information about any important incident related to
Politics, share Market, Business, Sports , Page3, Movies, Food is instantly available on Smart
Phones and desktop hence the Print form of Magazines has lost their Value Proposition to
these new channels of Information Flow
And this is why All the Major Magazine Publisher are facing high churning rate of customers
be it The Economist in UK, Forbes and TIMES in US or India Today and Outook in India, Such
is the impact o this Customer attrition that Outlook has to discontinue its Eight Premier
Magazines out of Twelve.
However with every Problem there comes an opportunity, Outlook Group and so does other
Established Print Media Groups has realised that which content people at Present times Like
or Intrested in Reading and they are Information on Business Market, Savings and Travel and
that is why most of the Media houses are launching or improving the Magazines which
focuses on Money, Business and Travel, the Diagram shown in the above figure depicts the
Customer Value for different categories of maghazines, Nearer to the Customer value more is
the Value proposition of the Magazine for the customer.
In Product Cycle Terms we can say the Print Media in in the decline stage , whereas Digital
and Online in the Growth stage.
19
20
Generally for every 40 calls made to the customers only one sales takes place , however 5 to 6 years
ago it was 25 :1, this has lead to increased focus on retaining existing customers.
As shown in the customer log sheet(On the next Page), the conversion rate is very low, hence outlook
CRM tries to directly approach the customer through telephonic call instead of email or Post, the sales
team makes atleast five calls to convience the less loyal customers to renew their subscription who
constitute 60% of active Outlook Subscribers, However the efforts are not yielding the desired result
and hence the focus has shifted to categorise the Subscribers based on their previous subscription
record, those with 5 years or more subscription kept in category 1 and given maximum attention,
those with 2 to 5 years in category 2, those with less than 2 years in category 3 and others in category
4 respectively.
21
22
25
Subscription
Advertisement
Retail
Event Sponsorship
Others
1320
Outlook English
425
466
The Sportsstar
528
GK Today
621
Pratiyogita Darpan
689
India Today
1634
0
200
400
600
800
1000
23
1200
1400
1600
1800
24
9. Customer Survey2
During research, non- probability sample method has been used; under it Convenience
sampling & Judgmental sampling was chosen for conducting the research.
I designed a questionnaire and get it filled by the respondents and at situations I have used
primary method of data collection - By Observation & through Personal Interview. These
respondents were magazine readers, prospects and suspects.
For my research, I went to Govt. offices, corporate houses, saloons, tour operators, stock
broking companies, coaching institutes and schools.
Types of data collection
1. PRIMARY DATA
- By Observation.
- Through Personal Interview.
2. SECONDARY DATA
- Internet
AGE GROUP
20 - 30
30 - 40
18%
40 - 50
ABOVE 50
16%
24%
42%
Disclaimer: This Survey is the work of Mr. Amit Arora from Chitkara University(2009-11)
25
I have targeted only those people who are above 20 years of age and got maximum response from
respondents who fall under age group 30 40 and minimum who fall under age group 20 30. This
shows people belong to age group 30 - 40 are regular readers of magazines.
OCCUPATION
18%
14%
CHARTERED ACCOUNTANT
DOCTOR
20%
GOVT. EMPLOYEE
48%
BUSINESSMAN
In above figure I have shown my target audiences. During my research, I targeted these people and
got healthy response from Doctors (48%) and minimum from Chartered Accountants (14%) and most
of the doctors have subscribed knowledge and Traveller magazine. Govt. Employees have given us
positive response (20%) and most of the businessmen (18%) were reluctant to purchase magazine
because of insufficient time.
Magazine Readership
NO
38%
YES
62%
During survey, it was that magazine readership in Chandigarh is only 62% and when I asked why?
The reply was that we subscribe two or more than two newspaper at home and we dont have
enough time to read these papers and now-a-days internet is a solution of every problem then why
should we subscribe magazines?
26
MAGAZINE FREQUENCY
32%
53%
WEEKLY
FORTNIGHTLY
15%
MONTHLY
In case of OUTLOOK, it is found that 53% people of Chandigarh read weekly magazines and the figure
which has surprised me was of monthly magazine (32%) more than the figure of fortnightly magazine.
People read weekly magazine because these are news magazine. Respondents say they subscribe
monthly magazine for GEO, Traveller and Marie Claire and OUTLOOK fortnightly magazine has got
minimum response because these are finance magazine and they watch T.V. for finance news.
MAGAZINE SEGMENTS
12%
8%
35%
17%
13%
10%
15%
NEWS
KNOWLEDGE
CAREER
BUSINESS
FINANCIAL
ENTERTAINMENT
Above figure shows that 35% people read news magazine, followed by Travel & Tourism,
knowledge and entertainment magazines. People are less inclined towards finance, career
and business magazines.
27
1.5
After review this figure, we get to know that what parameters affect buying behavior of
customers - Brand Image, after Sales Service, Special offers and Availability play important
roles in this regard and Content plays an average role.
Q7. On what scale 1 10, where 1 is unacceptable and 10 is outstanding, do you rate the
following magazine?
2.5
3.5
6.5
7.5
8.5
8.2
MAGAZINE RATING
OUTLOOK
RATING
8.2
THE
INDIA
THE WEEK ECONOMI
TODAY
ST
8.5
GEO
7.5
TRAVELLE
MONEY
R
8
6.5
PROFIT
FEMINA
3.5
2.5
35 - Years old brand India Today is a market leader; people still prefer this magazine because
of its good content and brand image, when we asked about OUTLOOK they said it is a
prominent brand but content in the magazine are less and advertisements are more.
Businessmen read The Economist, Money and The week. Doctors prefer Geo and Traveller
and Saloons go with Femina.
28
Q9. Which brand of OUTLOOK, would you like to subscribe? (If interested)
CUSTOMERS' PREFERENCE
NEWSWEEK
PEOPLE 5% OUTLOOK
10%
20%
CAREERS 360
7%
BUSINESS
7%
MONEY
6%
PROFIT
MARIE CLAIRE
11%
TRAVELLER
17%
GEO
13%
4%
OUTLOOK
BUSINESS
MONEY
PROFIT
GEO
TRAVELLER
MARIE CLAIRE
CAREERS 360
PEOPLE
NEWSWEEK
I asked this question from respondents who belong to different sectors and accordingly got
the reply, which are as follows:
or
29
Doctors:
Govt. Employee:
Finance Tutors:
Saloon Owner:
Strength
Weakness
Opportunity
Digital Media
Social Sites
24*7 News channels
Threat
11. Recommendations
30
10. Annexure
Cover-on-cover Proposal.
Outlook group has launched a revolutionary Promotion program on the 20th year of its
inception known as Cover-on-cover. In this scheme your brand advertisement will be
placed in Front and back side of the Magazine which will lead to substantial increase in
customer visibility at numerous customers touch points , under this scheme specific no. of
magazine copies having your advertisement in front of the of the Outlook Magazine and will
be delivered to the best Target customer extracted from Outlook database having more than
30 lakhs subscribers keeping your business interest as the top priority , this scheme will cause
substantial increase in your business visibility and will act as a differentiator from other
competitors.
Rates.
Magazine
Cost Per copy(INR)
Outlook(weekly)
40*
Outlook Hindi(Weekly)
25*
Outlook Traveler(Monthly)
100*
Outlook Business(Fortnightly)
50*
Outlook Money(Monthly)
50*
*it includes creative content for your business and Postal charges as well
Terms and Conditions
Previous Customers:
31
32
12. References
1.
2.
3.
4.
5.
** Report Concludes**
33
34