Summer Training Report

A STUDY ON CUSTOMER SATISFACTION OF OUTLOOK MAGAZINES

Submitted in partial fulfillment of the requirements For the award of the degree of

BACHELOR OF BUSINESS ADMINISRATION (BBA) To

Guru Gobind Singh Indraprastha University, Delhi
Guide: Dr. VANI VASAKARLA Submitted by: ATIF SIDDIQUI Roll No.:13524401710 Batch: 2010-13

Institute of Innovation In Technology & Management, New Delhi 110058

2010-13

Certificate
I, Mr. ATIF SIDDIQUI, Roll No.13524401710 certify that the Summer Training Report (Paper Code BBA-311 A STUDY ON CUSTOMER SATISFACTION OF OUTLOOK MAGAZINES is done by me and it is an authentic work carried out by me at Outlook Group Pvt Ltd.. The matter embodied in this has not been submitted earlier for the award of any degree or diploma to the best of my knowledge and belief.

Signature of the Student Date:

Certified that the Summer Training Report (Paper Code BBA-311) entitledON
CONSUMER BASED AND FUTURE ASPECTS OF MAGAZINE

done by Mr. AtifSiddiqui Roll No 13524401710, is completed under my guidance. Signature of the Guide Date:

Countersign Director/Project Coordinator

ACKNOWLEDGEMENTS
I take great pleasure to thank and acknowledgement the permission and allowance by Mr. AnujChabbra, Team Leader, Outlook Group Magazines, Safdarjung Enclave, New Delhi and his help and inspiration provided. Their guidance at every stage of the Project enabled me to successfully complete this project which otherwise would not have been possible without their constant encouragement and motivation, without the support it was not possible for me to complete the report with fullest endeavor. I would also like to extend my thanks to my College Faculty Member Dr. VANI and all my colleagues in the Company who supported me in carry out my operation successfully and generously and provided me vital information/ training regarding my project objective.

ATIF SIDDIQUI [13524401710]

Institute of Innovation in Technology & Management, New Delhi Assignment No: BBA/311/

SUMMER TRAINING & REPORT WRITING: BBA SEMESTER IV

Background: University Scheme

As per the syllabi of BBA(G) (Paper No BBA-311 comprising of six credits) students of Semester IV are to carry out summer training in a firm or company for the duration of Eight Weeks and to submit a report within Two Weeks of the commencement of Fifth Semester.

Objectives
The academic objectives for summer training and report writing are:

(a)

Work & gain knowledge of real business environment,

(b)

Analyse how theoretical concepts taught are applied/not applied in real situations,

(c)

Analyse best practices of a company/industry in different functional areas,

(d)

Enhance analytical & application abilities of students, and

(e) Develop skills in technical report writing through data collection, data analysis, data presentation and draw lessons cogently vis--vis a given firm or company.

Scope of Summer Training & Report Writing

The Company/firm where you will be doing your summer training is OUTLOOK GROUP. The report of the summer training is to be compiled under the following chapters as per details given in Academic Circular 4/2008(Revised):

(a) (b) (c) (d)

Profile of the Firm/Company SWOT Analysis of the Company Functional Analysis of Key Functional Areas of the Company Lessons Learnt

Each student is to collect material on the aspects as mentioned above and in Academic Circular 4/2008 (Revised) related to the Company, compile and arrange it in cogent manner. One copy of the report is to be submitted to the respective guide as per the schedule given in the following paragraph.

Schedule & Evaluation Scheme

To be Completed by Date D+5 Days D+6 Days Between D+36 to D+40 Days Between D+65 to D+70 Days Between D+75 to D+80 Days D+85Days Between D+88 to D+92 Days As notified by the Activity Submission of Firm/Companys Name where the student intends doing summer training. Commencement of Summer Training Mid-term Review: Submission of work done in first four weeks-complete Chapter-1. Submission of Draft Report to the respective guides. Discussion with guides and return of corrected report. Submission of Final Report (One hard copy & CD) to the respective guides. Viva & Presentation to the internal Committee. Marks Allotted 10 Ref Appendix of Academic Circular 4/2008 (Revised) -doRemarks -

10 10 20

A Power Point or OHP based presentation. -do-

External presentation & Viva before the

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University

external examiner. Total Marks 100

D= Last Date of Term End Exams. Exact dates are to be notified by the Prog Director.

Format for Compilation

The report is to be compiled and submitted as per the format laid down in Academic Circular 4/2008 (Revised).All students are to strictly adhere to the format.

Submission Final report completed in all respects is to be submitted to the guide as per the schedule given above. CAUTION: This report is independent work to be conducted by each student individually. Any previous work or borrowed work will be summarily rejected and in all cases of rejection the work is to be repeated afresh.

Assignment Prepared by Dr. Vani Vasakarla (Associate Professor)

Senior Supervisor

Countersigned Director Note: This Assignment Directive shall form part of the dissertation.

CONTENTS
S No 1 2 3 4 5 6 7 8 9 10 11 12 Topic Certificate (s) Certificate (I) Acknowledgements Assignment List of Abbreviations Executive Summary Chapter-1: Profile of the company Chapter-2: SWOT Analysis of the Company Chapter-3:Functional Analysis of the company Chapter-4: Lessons Learnt Conclusion Bibliography Page No 2 3 4 5 17 10 11 26 29 32 42 46

LIST OF FIGURES& TABLES Figure No 1 2 3 4 5 6 7 8 9 10 Title Product range of outlook magazines Market share of the organization Page No 16 23 30 35 36 37 38 39 40 41

Functional Departments of the company Subscription Service Customer care service Delivery service Quality content Competitiveness Quality & service

EXECUTIVE SUMMARY
In todays competitive world Management Interns have to put rigorous hard work to survive in the business world. They should be well groomed and well acquainted with functioning of the corporate world.

The two months Industrial Training is an integral part of business Program, aims to provide the business students with an adequate exposure of the various operation that are taking place in an Industry.

I, as a Management intern was engaged with OUTLOOK Group, New Delhi. I worked in a Subscription Division for two months. It was a very educative and professional experience and thereby gaining a practical overview of the corporate work culture.

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CHAPTER 1
1.1 INTRODUCTION OF THE COMPANY
A RajanRaheja Group MrRajanRaheja is the owner of OUTLOOK group

Date of Establishment: October 1995 Headquarter Address: AB-10, S.J. Enclave,

New Delhi - 110029, India

Ph no:-011-26191421 E-Mail Address:-yourhelpline@outlookindia.com Website Name:-www.outlookindia.com Branches : Mumbai, Kolkata, Chennai, Bangalore and Hyderabad

MANAGEMENT TEAM
NAME
Suresh Selvaraj Indranil Roy AlokMathur AnupDwivedi VidyaMenon GauravVashisht HimanshuPandey

DESIGNATION
Vice President Vice President Assistant Vice President General Manager, Production & Systems General Manager, Advertising Deputy General Manager National Head, Business Development

Alex Joseph
Gitanjali Singh

National Head, Retail

National Head, Marketing

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1.2 Registered Offices Of The Company :Delhi AB-10 Safdarjung Enclave, Tel: 011-33505536 / 33505537 / 33505562 / 33505653 / 33505667, Fax: 011-26177416; -400098, Tel: 02267382222, Fax: 022-67382233; -B, Flat-5B, 2nd Floor, Kolkata-700019, Tel: 033-33545400/5401, Fax: 033-22823593 - 600008, Tel: 044-33506300, Fax: 044-33506327; Road, Bangalore- 560025, Tel: 08033236118/03/12, Fax: 080-25582810; -500 004, Tel: 040-23371144 23375776, Fax: 040-23375676

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1.2 Nature of the company

Outlook is an Indian weekly and monthly newsmagazine in publication since October 1995. Mr Vinod Mehta has been the founding editor-in-chief. Since its inception, investigative reporting has been the forte of the magazine. Outlook has also spawned the specialized magazines Outlook Traveler, Outlook Money, Mand the Hindi Outlook . Outlook has been famous for many of it's sensational stories like the "Kargil Bungle" and the "Match Fixing controversy" but many view its editorial tilt as being against the right like the RSS , often highlighting opposing sections in negative light. Outlook is part of the RajanRaheja Group which made its beginning in the construction business and after building a huge presence in the realty market, the Group diversified laterally into manufacturing, financial services and media. The magazine division of Outlook consists of Outlook, Outlook Money, Outlook Traveler, Outlook Sapthahik, Outlook Business and Delhi City Limits. It has recently taken over the Sales & marketing of Newsweek, an international newsmagazine and Marie Claire, an international womens magazine. Outlook, a weekly newsmagazine has been instrumental in providing wide range of news and information. It also has magazines including Outlook Money, Outlook Traveller and Outlook Saptahik under its umbrella. As a part of web media, it has launched websites like outlookindia.com, outlooktraveller.com and outlookmoney.com. It caters to a base of 1.5 million readers in India and sells more than 11.2 million copies annually. The observations of the Markets studied for the sale of Newsweek was that Time and Newsweek have a similar sales pattern and the POP display was maximum from the Outlook Group.

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1.3Vision & mission

To identify new segments and listing out potential customers. Make strategy to approach them and create awareness. Generate sales for outlook group magazines by increasing circulation in these segments. To check the process of delivering the magazine to the subscriber within 25 days of subscription. To improve readership profile.

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1.4 PRODUCT RANGE OF COMPANY

Fig. 1

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OUTLOOK: In October 1995,group company hath way investment private limited entered in the print media. Outlook, a weekly newsmagazine headed by Vinod Mehta, galvanised a sluggish market reeling under the impact of satellite TV. Outlook quickly carved a significant niche for itself among discerning readers who value its in-depth, investigative reporting as well as its stylish visual format. Known to be fiercely independent, Outlook has shaken the establishment on events ranging from Kargil to Kashmir to cricket, sensitised the reading public to important issues like big dams, education and gender, and provided an unremitting focus on South Asian geopolitics. Today, Outlook is the preferred magazine of 1.5 million readers in India, and sells more than 11.2 million copies over the year.

OUTLOOK MONEY: In July 1998, the Group launched "Intelligent Investor" re-christened as "OUTLOOK MONEY" as of 30-Nov-2002, India's first personal finance magazine, which offers sound strategies for the lay investor, especially the growing segment of salaried middle and upper middle-class and self-employed professionals. Its message is clear and simple: 'Invest well, borrow wisely, spend smartly'. Evidently, that message has gone down well: the magazine sold upwards of 1,00,000 copies a fortnight within a year. One of its distinguishing characteristics is that about 93 per cent of readers retain all past issues of Outlook Money.

OUTLOOK TRAVELER: Outlook Traveler is a monthly magazine from the stable of Outlook Publishing India Pvt. Limited and the only significant magazine aimed at the travel reader. Every month since June 2001 OT has introduced readers to the wonders of unknown destinations while

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also encouraging travelers to take a fresh look at familiar places. Whether people are planning a holiday, or simply dreaming of one, Outlook Traveler continues to take them closer.

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 GEO:Its India debut with GEO, its premium science and geography magazine. The magazine was launched under a licensing arrangement with the OUTLOOK Group in India and positioned as family magazine. The OUTLOOK Group says that there is a big market for knowledge magazines in India and GEO will help the Group in increasing its market share.

OUTLOOK CARRIER:It gives you an all around perspective on the latest career trends, fresh avenues, admission alerts, careers, courses and updates your general knowledge with the literacy rate of different states and courses offered by colleges in these states. This magazine contains well researched information for the youth and young professionals, which may help them in taking decisions related to their careers.

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OUTLOOK PEOPLE:The OUTLOOK Group has reached an agreement with U.S. based publishing company Time Inc. to bring People, one of its most successful and popular editorial products to India in 2008. Time Inc. which is the largest publisher in the U.S. and U.K, redefined personality journalism in 1974 with People magazine and its unique mix of news and lifestyle features. Every week the People brand reaches 43 million readers with latest news, exclusive interviews and in-depth reporting on the most compelling people of our time.. MARIE CLAIRE:MC is French magazine and being promoted by different group in different countries and in India it is being promoted by OUTLOOK Group with Indian edition, best magazine for those who want to update themselves with latest fashion & trends. Mostly women and girls, who are linked with fashion, subscribe this magazine. MC is considered as women brand with a punch line, let me be me.

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1.5 Size of Organization

Turnover of the company:Over Rs. 86 billion ($ 2.1 billion)

Total capital employed:Over Rs. 57 billion ($ 1.4 billion)

Total Employees:19,000

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1.6 Organizational Structure of the Outlook Company

ORGANIZATION HIERARCHY

Mr. RAJAN RAHEJA

Net Worth:$950 million

Mr. VINOD MEHTA Editor-in-chief (OUTLOOK Magazines)

VICE PRESIDENT

ASST VICE PRESIDENT

GENERAL MANAGERS

DY GENERAL MANAGERS

NATIONAL HEADS

REGIONAL MANAGERS

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SENIOR MANAGERS

MANAGEMENT AND STAFF

EDITOR IN CHIEF PRESIDENT& PUBLISHER EXECUTIVE EDITOR FEATURES EDITOR FOREIGN EDITOR BUSINESS EDITOR SENIOR EDITORS POLITICAL EDITOR BUREAU CHIEF BOOKS EDITOR DEPUTY FOREIGN EDITOR ASSISTANT EDITORS SENIOR SPECIAL CORRESPONDENT SPECIAL CORRESPONDENT CORRESPONDENTS

Vinod Mehta MaheshwerPeri BishwadeepMoitra Nandini Mehta Ajaz Ashraf SunitArora AjithPillai, Anjali Puri Smita Gupta Saba NaqviBhaumik Sheela Reddy SeemaSirohi Namrata Joshi Anuradha Raman SaikatDatta, Nivedita ShrutiRavindaran

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BUSINESS OFFICE

VICE PRESIDENTS ASST VICE PRESIDENT GENERAL MANAGERS DY GENERAL MANAGER

Suresh Selvaraj AlokMathur AnupDwived Gaurav Kr. Vashisht

NATIONAL HEAD REGIONAL MANAGERS SENIOR MANAGERS ASSOSIATE MANAGERS

HimanshuPandey AnandShirali, Arokia Raj B.S Johar, KabirKhattar Bobby Mathews, ChetanaShetty

HEAD OFFICE AB-10 S.J. Enclave, New Delhi 110 029 Tel: 26191421; Fax: 26191420

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1.7 Market Share of the Magazine

India Today 15 % Outlook English 4% Fortune 1.40% The Week 2.48 %

15% India Today 4% Outlook English 1.4% Fortune 2.5% The Week

Fig. 1

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1.7.1 Position of the company

Our company is one of the leading companies in the magazine industry. We have wide range of magazine products which have strong position in the market. So the present status of the Organization is very strong in the Market. We are the pioneers of magazine Industry, we produce the best of the selling magazine not only in India but all over the world. Outlook group is known as the best renowned group among the other publishing companies. It have the widest range in magazines for better choice of consumer, according to their taste

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1.8 People with whom we interacted during the summer training

Marketing head HimanshuPandey

Group leaders- Bhaskar Sharma , SandeepSona

People in Training Supervisor Team- Mona kumari , Murtaza , Ahmed

Team leader AnujChhabra

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1.9 Sources of Data Collection:-

There are 2 sources of data collection, i.e Prim ary Source and Secondary Source of data. 1. Primary source: Data was collected through questionnaire,. The questionnaires were carefully designed by taking into account the parameters of the study.. 2. Secondary source: Secondary data source used for data collection were media. It is the data which has been collected by individual or someone else for the purpose of other than those of particular research study. or in other words we can say that secondary data is the data used previously for the analysis and the results are undertaken for the next process

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CHAPTER -2
S.W.O.T ANALYSIS OF THE COMPANY
2.1 STRENGTHS:

Well organized and experienced staff . Innovative and customer oriented products. Direct approach to the customer Customer satisfaction. Strong distribution network Efficient and fast delivery system.

2.1.1 WEAKNESS Price of some magazines is high. Customer perception that outlook serves to a political party.

2.1.2 OPPORTUNITIES:

It has many products capturing all sectors information so it has an opportunity tobecome a market leader.

2.1.3 THREATS:

Number of competitors in the market. India today has already captured the big market share 27

COMPETITORS:HOME MAGAZINE COMPETITORS

OUTLOOK MONEY

MONEY TODAY

OUTLOOK BUSINESS

BUSINESS ECONOMY,BUSINESS TODAY

OUTLOOK TRAVELLER

TRAVEL TODAY

OUTLOOK HINDI

SAPTAHIK

OUTLOOK PROFIT

NO COMPETITORS

MARIE CLAIRE

COSMO,FEMINA,NEW WOMAN,VOGUE

NEWS WEEK

TIMES (Worlds leading international news magazine)

OUTLOOK (ENGLISH)

INDIA TODAY

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2.4 WORK PROFILE

As a management trainee I joined OUTLOOK MAGZINESNew Delhi and I was given the profile of a RELATIONSHIP EXECUTIVE.

I worked in the company as a RELATIONSHIP EXECUTIVE and my primary work in the company was to face individual to facilitate and participate in the planning and execution of field of marketing activities. I worked with my team met many customers and received their feedback andI was involved in business development activity. My profile was to do cold calling and to promote themagazines so that the numbers of readership will increase.

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CHAPTER-3 3.1Functional Analysis of the Company

OBJECTIVES:-

To study customer satisfaction level of outlook magazines. To understand the concept of customer satisfaction. To identify new segments and listing out potential customers. To check the process of delivering the magazine to the subscriber within 25 days of subscription. To analyze & interpret the deal on bond

3.2FUNCTIONAL DEPARTMENTS OF THE COMPANY

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Marketing is very necessary for every organization. It helps organizations in determining what product and services may interest customers and also strategies for use in product development, sales and promotions. The Project STUDY OF OUTLOOK SUBSCRIBERS SATISFACTION is an attempt to find out the factors and causes which affect the degree of satisfaction among the customers of Outlook Magazines. In this tough time of competition magazines industry is going a long way in developing, formulating and implementing promotional strategies to cope up with this tough competition. Though there are many aspects which can be improvised in the services of Outlook magazine. Strategies are formulated not only keep up with cut throat competition but also to meet the highly volatile consumer preferences. There are several factors which influences the purchase. These factors may be internal and external as well. Internal factors include perception towards the thing, knowledge about product, purchasers attitude, lifestyle, motivational status etc. Motivation is the driving force which comes into play when customer has better experience with the product. This leads to the repurchase decision of the customer. Whereas external factors include culture, group or peer influence, the situation in which purchase is made etc. Questionnaires were prepared and market survey was conducted and then evaluation of primary data is done. The analysis revealed that there are some factors e.g. the customer perceived value and value preposition when meets leads to customer satisfaction .If that is consistent then leads to customer loyalty .That is the key factor of customer retention etc. which affect the purchase of magazines of Outlook group.

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It also revealed the fact that there is a small opportunity of improvement in the area of quality of content and promotional schemes. The customers agreed upon the fact that gifts are good in quality but they added that these promotional schemes can be more attractive.

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3.4 DATA ANALYSIS

Question 1# Have you ever renewed the subscription of Outlook magazine? Ans.

Subscription
27% Yes 73% No-

SUBSCRIPTION
RESPONSE YES NO TOTAL PERCENTAGE 27% 73% 100

INTERPRTATION; Only 27% subscribers renewed their subscription, rest 73% has never renewed their subscription. Which means that somewhere there is less motivation for the rebuying behavior.

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Question 2# Have you ever used the customer care service of Outlook ? Ans.

Service
19% yes 81% No

SERVICE

RESPONSE

PERCENTAGE

YES

81 %

NO

19%

TOTAL

100

INTERPRTATION:81 % Consumers or subscribers have used the customer care service. It means that huge number of customers have some or the other Query. That gives an insight that the service delivery is at question and certainly needs some improvement. 34

Question 3# How would you rate the experience of Query solution of customer care service of Outlook? Ans.

customer care service

10% 21% 21% 5% Excellent 43% Good Satisfactory Poor Very poor

CUSTOMER CARE SERVICE

RESPONSE Excellent Good Satisfactory Poor Very poor TOTAL PERCENTAGE 43% 21% 21% 10% 5% 100%

INTERPTATION:The customer care service is excellent for only 43% subscribers. Almost 20 % said good and satisfactory. This gives an insight that up to some extent services are good, but when carefully observed it came out that few queries solution needs some time to get solved which also become a reason for dissatisfaction among the customers who find this service poor or very poor 35

Question 4# How would you rate the delivery service of Outlook magazines at your place? Ans.

Delivery Service
16% 19% 25% 20% 20% Excellent Good Satisfactory Poor Very poor

DELIVERY SERVICE
REPONCES Excellent Good Satisfactory Poor Very poor TOTAL PERCENTAGE 20% 25% 20% 19% 16% 100%

INTERPTATION:Product delivery service has got mixed response. Those customers who got their magazines and gifts items at time are satisfied or given the rating good or excellent. But the customers who got the magazines or gift item one day late also has given the rating as Poor and very poor for those who didnt get any magazine or sometimes encountered no gifts. . 36

Question 5# How would you rate the Quality content of the Outlook magazine? Ans.

Quality content
0 22% 2% 41% Excellent Good Satisfactory 35% Poor Very poor

QUALITY CONTENT

RESPONSE Excellent Good Satisfactory Poor Very poor TOTAL

PERCENTAGE 41% 35% 22% 2% Nil 100%

INTERPTATION:Outlook is a very big brand in itself. Any brand becomes popular for its Quality and fulfillment of the perceived value of the brand. As there are so many competitors in the media sector, this response for Outlook is really appreciative. 41% of respondents responded as the Quality of Outlook is excellent. It means still Outlook is giving great competition to its competitors. 37

Question 6# How would you rate the competitiveness of our Outlook magazines with other magazines, in the sense do they represent the best value for the total cost of your subscription ownership? ANS.

Competitiveness
10% 15% 39% 1% Excellent 35% Good Satisfactory Poor Very poor

COMPETITIVENES
RESPONSE Excellent Good Satisfactory Poor Very poor TOTAL PERCENTAGE 35% 39% 15% 10% 1% 100%

INTERPTATION:When surveyed most of the magazine readers suggested that the Performance of Outlook is excellent or good or satisfactory because the problems like Query Solution or delayed product delivery is the issue with all the known and renowned magazines or newspapers. It means with all the above covered issues, Outlook has maintained its position because it give and satisfies the content need of the readers 38

Question 7# how would you rate Outlooks total Quality and service management to ensure complete customer satisfaction? ANS.

Quality & serivice

4% 10% 16% 31% 39% Excellent Good Satisfactory Poor Very poor

QUALITY & SERVICE

RESPONSE Excellent Good Satisfactory Poor Very poor TOTAL

PERCENTAGE 16% 39% 31% 10% 4% 100%

INTERPTATION:This data provides the conclusion that still there is a lot of scope to improvise for Outlook though it is performing well in the market and penetrating very rapidly. It could be a market leader if it concentrates few aspects of customer satisfaction .Still 39% of respondents responding it as good is not bad at all.

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CHAPTER-4 4.1 LESSON LEARNT

SUMMARY OF LEARNING EXPERIENCE

1.

I got to know about the atmosphere of the organization.

2. The working condition of the company. 3. Code of conduct in a company and its rules and regulations. 4. Process and procedure of working. 5. Learned to take orders by superiors. 6. Way of communicating right thing at right time to subordinates and to superiors. 7. Coordination at work. 8. Creating strategy on daily basis to achieve my daily target and make the job easier 9. Coordinate with everyone to achieve the target. 10. Creating hygienic atmosphere to work. 11. Learned how to work in stress. 12. Flexible towards changing working environment. 12. Ability to keep time/cost factor under control
13. It helped me in improving my communication skills 14. I learned how to present in front of the customers

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4.2 RECOMMENDATIONS

1. Effective promotional scheme a strategy for consumer motivation It is important to motivate the consumer to subscribe for the magazine for boosting the sales and its obvious that most of the consumers will not get motivated unless and until they get what they want. From the market survey it was able to identify that the motivating factors are the gifts provided along with the subscriptions and according to most of the consumers a good gifts are one which have good brand value associated with it and those which offer better utility. 2. Offline referral marketing a strategy for customer or subscriber motivation Referral marketing can be effectively used to improve the subscription sales. The existing customer can be motivated to refer to their friends, relatives etc. to subscribe for the magazine by means of exciting and attractive gifts as incentives. The magazine should provide Business reply cards exclusive for existing subscriber along with subscribers copies during the magazine delivery so that they can refer their friends and relatives for magazine subscription. The business reply card should offer the facility to be filled with at least ten references. Subscribers should be able to send them free of cost. Now these subscribers can be provided with attractive gifts.

3. Customer retention It is a normal saying that customer acquisition is good, retention is better. This is because a customer retained is equal to five new customers as the money spent for acquiring a customer is calculated to be five times the money spent to retain a customer. From the information obtained

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from Outlook, if was identified that Outlook does nothing for customer retention. Outlook needs to formulate and implement customer retention and loyalty programs to retain the customers. Greet the customers with exciting gifts during special occasions Sell the subscription renewal at discount Auto renewal of subscription Allow grace period for subscription expiry Send loyalty gifts Organize entertainment events for subscribers Organize get together Offer free Medical claim/Insurance Policy

4. Improvement in magazines As per customer satisfaction From the market survey it was revealed that the strengths of Outlook Magazine are Promotional Schemes and unbiased reporting. Its weaknesses are its Content quality, Paper quality and Print quality so it should work on it to increase the customers satisfaction. If the product is able to satisfy customers in its core product attributes, then the customer will be tend to be loyal as their expectations are fulfilled. So to improve customer loyalty and thereby increase voluntary sales outlook magazine has to work on its weaknesses as expected by the customers of the magazine Since the quality of content and coverage are subjective in nature, Outlook needs to identify what are weaknesses of the current contents and coverage of the magazine as well as the customers expectations about them. For this Outlook should go for detailed survey and customers feedback so that it can understand the customers expectations as far as content and coverage of the magazine are 42

concerned. Once the customer expectation is identified Outlook need to restructure the magazine by implementing the customer requirements and demands in order to improve their satisfaction level which will in turn boost the magazine as well as subscription sales..

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4.4 CONCLUSION
1. Encourage Face-to-Face Dealings 2. Respond to Messages Promptly & Keep Your Clients Informed 3. Be Friendly and Approachable 4. Have a Clearly-Defined Customer Service Policy 5. Attention to Detail 6. Anticipate Your Client's Needs & Go Out Of Your Way to Help Them Out 7. Honor Your Promises

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ANNEXURE QUESTIONNAIRE OF OUTLOOK MAGAZINES

Customer Name: .. Date:.. Sex: . Age: .. Profession: . Qualification:.. Customer contact:

We would be grateful if you could spare a few minutes to complete this Customer Satisfaction Questionnaire to help us ensure that our standard of customer care exceeds expectations wherever possible.

NOTE: This test is taken for the purpose of research and the information given by you will be kept confidential. Hence give your answer without hesitation

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Questionnaire :

1. Which of the following magazines have you read? ANS. .......... Outlook Money . Profit

... Business

.... Out look Hindi

. People

... Traveller

. Career 360

Lounge

... Geo

. Marie Claire

... News Week

... Business Week

2. . Which magazine are you currently reading of Outlook? ANS. . .......... Outlook Money . Profit

... Business

.... Out look Hindi

. People

... Traveller

. Career 360

Lounge

... Geo

. Marie Claire 46

... News Week

... Business Week

3. Which other magazine do you read? ANS. . ..

4. Which is your most favorite magazine of Outlook? ANS. 5.Which is your most favorite magazine of all the magazines you know or you have read yet? Why?(Describe briefly) ANS.

6. What is the means of purchase for the magazine of your interest? ANS... News paper vendor Book shop . Subscription

7.Does News paper vendor give you any consession on buying magazines from him? ANS. Yes ..No

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8.If your answer of Question No.7 is Yes , then is that consession is more than or equal to or less than the subscription charges of the magazines? ANS ..More ..Equal .Less

9.Have you ever subscribed any of the Outlook Magazine? ANS. .yes no

10. If your answer of Question No.9 is Yes , then how many times you have renewed the subscription? ANS. ..Never ..Specify the counts of renewal

Please tick the appropriate box to indicate your degree of satisfaction. Where 1.Excellent 2.Good.. 3.Satisfactory.. 4.Poor.

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BIBLIOGRAPHY

Referred Books: 1. Solomon, Michael R., Consumer Behavior-Buying 11th edition, Having and Being 4th edition, 2009 Pearson Education Inc., 2. Malhotra, Naresh K., Dash, Satyabhusan. 6thedition , Marketing Reseach,An applied orientation,2010,Pearson Education Inc., 3.Cooper & Schindler 8th edition, Business Research 4.Belch George 5th edition, Belch Michael 7th edition, Advertising and promotion 5. Kotler Phillip 3rd edition, Marketing Management Web Site: www.outlookgroup.com www.outlookindia.com www.outlook magazines.com www.Delhioutlook magazines.com www.outlooktraveler.com www.outlookbussiness.com www.outlookmoney.com

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