Final outlook

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Final outlook

  1. 1. OUTLOOK GROUP SUMMER INTERNSHIP PROJECT APRIL – JULY, 2010 O SUBMITTED TO Mr. BHAWANI SINGH RAJAWAT SUBMITTED TO ASSISTANT SALES MANAGER Ms. SHIVALI JINDAL PROJECT MENTOR OUTLOOK GROUP CHITKARA UNIVERSITY NEW DELHI ------------------------------------------ SUBMITTED BY AMIT ARORA MBA (2009 – 11) ID NO. M090700005 3
  2. 2. ACKNOWLEDGEMENT I acknowledge, with heartfelt gratitude, the whole-hearted support of Mr. Bhawani Singh Rajawat (Asst. Sales Manager, OUTLOOK Group) for his kind motivation and guidance to design, undertake and accomplish the study and the project. I would also like to thank OUTLOOK Group for the training program and for the knowledge which I’ve gained during the session. My obligation to Ms. Shivali Jindal (Project Mentor, Chitkara University) and other faculty members is immense for their vision to motivate me to identify the appropriate topic and forum to undertake the study in the desired manner. [Amit Arora]
  3. 3. TABLE OF CONTENTS • Introduction to the Corporate and Chapter – 1 (Pg. 5 -11) Group Companies. • History And Future Of Print Media • Print Media Industry Profile • Outlook Group Chapter – 2 (Pg. 12 – 22) • Organization Hierarchy • Management And Staff • Web Media • Outlook And Its Competitors Chapter – 3 (Pg. 23 – 29) • Sources Of Financing • SWOT Analysis • Project Work Chapter – 4 (Pg. 30 – 35) • Needs & Objectives Of Study • Outlook Umbrella • Research Methodology Chapter – 5 (Pg. 36 – 48) • Data Analysis & Interpretation • Findings Chapter – 6 (Pg. 49 – 53) • Suggestions • Limitations • Bibliography • Highlights of the Company Annexure (Pg. 54 – 65) • Financial Analysis • Experience With British Library • Questionnaire 3
  4. 4. EXECUTIVE SUMMARY In today’s 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 three months Industrial Training is an integral part of Management Program, aims to provide the management 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 three months. It was a very educative and professional experience and thereby gaining a practical overview of the corporate work culture. CHAPTER - 1
  5. 5. RAJAN RAHEJA GROUP {BUILDING MATERIALS, BATTERIES, FINANCIAL SERVICES, MEDIA, HOSPITALITY, RETAIL} 3
  6. 6. The Rajan Raheja Group is a diversified conglomerate which has interests in sectors such as building materials (through Prism Cement, H&R Johnson (India) and RMC Ready-mix (India)), automotive and industrial batteries (Exide Industries), cable T.V. (Hathway Cable & Datacom and Asianet Satellite Communications), financial services (in life insurance and asset management through joint ventures with ING), publishing (OUTLOOK group), retail (Globus, H&R Johnson (India) TBK, Food world and Health & Glow), real estate development, software, petrochemicals and hotels. INTRODUCTION OF GROUP COMPANIES Rajan Biharilal Raheja (born 1954) is an Indian businessman who lives in Mumbai. Forbes magazine has identified him as a billionaire with a net worth of $2.15 billion, making him the 30th richest person in India. Rajan Raheja made his beginning in the construction business. After building a huge presence in the realty market, his Rajan Raheja Group diversified laterally into manufacturing, financial services and media—each venture initiated, and executed, to fulfill the objective of assuming leadership in core areas. The list of his Group's successes is long and eclectic. Today, H&R Johnson (India) Limited is the top name in ceramic tiles in India. Exide is the strongest brand of batteries in the automotive and industrial field. Co-promoters of Supreme Petrochem Ltd. along with Supreme Industries Ltd, largest processor of plastic materials in India. The Group also joined hands with Oberoi Hotels as co-promoters of Trident Hotels and luxury resort Rajvilas, which Conde Nast Traveller ranked as one of the 25 best villa hideaways in the world.
  7. 7. Prism Cement Ltd has a production capacity of 2.5 million tonnes; The Group is a Co-promoter of Sonata Software Ltd, one of the leading software companies in India. As owners and operators of a fibre optic cable network in Kerala through Asianet Satellite Communications, Co-promoters of RMC Ready-mixed (India) Pvt. Ltd. along with RMC Group plc, U.K, the world’s largest manufacturer of Ready-mixed concrete. Hathway Cable & Datacom Pvt. Ltd has extensive cable network in 6 major cities and 7 large towns across India. Globus Stores Pvt. Ltd. is India’s one of the largest apparel brand chain. A 50% JV with the ING group of Netherlands in ING Life Insurance. The venture is already the 5th largest insurer in India. Our Websites: www.OUTLOOKindia.com, www.oberoirajvilas.com www.tridenthotels.com, www.prismcement.com, www.sonata-software.com, www.ingim.co.in, www.supremepetrochem.com, www.asianetindia.com, www.healthandglow.in, www.foodworld.in, www.globus.in, www.exideindustries.com, www.inglife.co.in, www.hrjohnsonindia.com, www.hathway.com, History of Print Media Industry Print Media, as anyone can understand is one of the most important factors coming through in the way a nation works. Newspapers, magazines, books etc. 3
  8. 8. are ready by a lot of people and are certainly one of the most trusted mediums of National and International News. India has a vast array of Print Media with Thousands of Magazines and Newspapers in circulation. Top Notch Journalism, great reporting, press unity and a very strong network is what makes Print Media so much of a success even today in the age of Television and the Internet. It is also said that Print Media also helped literacy and undoubtedly the General Knowledge of the average person in India. The newspaper with the largest Circulation in India is Dainik Jagran, having near about Two million readers. Next comes Times of India, an English newspaper, followed by Dainik Bhaskar, another Hindi Newspaper. India has a lot of regional newspapers and magazines as well in a lot of languages. Therefore there is something out there for everyone to read! Print media: • Current size: Rs 10,900 Crore • Projected size by 2010: Rs 19,500 Crore • CAGR: 12% A booming Indian economy, growing need for content and government initiatives that have opened up the sector to foreign investment are driving growth in the print media. With the literate population on the rise, more people in rural and urban areas are reading newspapers and magazines today. Foreign media too is evincing interest in investing in Indian publications. Future of Indian Entertainment and Media (E&M) Industry
  9. 9. The Indian Entertainment and Media (E&M) industry is poised to grow at 19% compound annual growth rate (CAGR) to reach Rs 83,740 Crore by 2010 from its present size of Rs 35,300 Crore, according to 2005 annual edition of the FICCI - PricewaterhouseCoopers report Indian Entertainment and Media Industry - Unraveling the potential. Economic growth, rising income levels, consumerism, coupled with technological advancements and policy initiatives taken by the Indian government that are encouraging the inflow of investment, will prove to be the key drivers for the entertainment and media industry. The industry has been forecast to outperform the economic growth in each year, till 2010. ―Two factors that will contribute to the growth of the industry are low media penetration in lower socio-economic classes and low ad spends‖ said Deepak Kapoor, Executive Director and Leader for PricewaterhouseCoopers‘ Entertainment & Media Practice in India. ―Today media penetration is poor in lower socio-economic classes, but efforts to increase it even slightly are likely to deliver much higher results, simply due to the absolute numbers being large. Strong economic growth, rising consumer spending and regulatory corrections are drawing foreign investments in most segments of the E&M industry, especially the print media. ―The sector needs a consistent and uniform media policy for increase in investments. Also, the on-going threat of piracy, which continues to hinder investments in all sectors, needs efforts not just by the industry bodies, but by government, with empowered officers enforcing anti-piracy laws, said Dr. Amit Mitra- Secretary General, FICCI. PRINT MEDIA INDUSTRY PROFILE 3
  10. 10. There are the two main sources of obtaining data to determine readership of any publication: • National Readership Survey – NRS • Indian Readership Survey - IRS National Readership Survey is a survey on all media, but especially the print medium, conducted by the National Readership Studies Council (NRSC) - supported by Audit Bureau of Circulation (ABC), Advertising Agencies association of India (AAAI) & Indian Newspapers Society. It investigates the readership of about 80 major Indian publications-dailies, weeklies, bi-weeklies and monthlies-in over 475 towns of 57 regions across the length and breadth of the country. The towns, selected, however are publication centres of dailies. By process of ‘systematic sampling,’ over 55,000 households in these towns are surveyed, the number of households in each town proportionate to it population. All men and womenfolk above the age 15 are questioned for about half an hour on the basis of a structured questionnaire. It claimed to be the most thorough readership survey in the country. It provides exhaustive data (available to its clients on computer disks) readership, radio listenership profile’-the socio economic characteristics of the readers of various publications, of cinema and TV viewers, and of listeners to radio, as well as the degree of duplication among publications and between media. Research agencies involved are: IMRB, TNS Sofres Mode, and AC Nielsen in collaboration with ORG. Indian Readership Survey is conducted by the Media Research Users Council (MRUC). IRS 2002 is the largest continuous media survey ever conducted
  11. 11. (sample size of 229,000 individuals) providing a single-source database for demographics, media habits and product / brand usage across 986 towns and 2858 villages in India. The survey was conducted over two rounds with the field work between November 2001 and November 2002. This all-India survey conducted jointly with the Media Research Users' Council (MRUC) also provides product / brand penetration information for over 50 different products allowing one to link media habits and product usage data for adults and children from the age of 12 years. Both NRS & IRS Gives media consumption habits, product ownership & consumption, lifestyle indicators information on macro demographic & geographic parameters. • Population coverage: 12 years & above • Sample size: over 200, 000 • Geographic coverage: All India (Urban + Rural) Sample Frame: Electoral rolls based on 2001 Census definition of Urban Agglomeration CHAPTER – 2 3
  12. 12. OUTLOOK: In October 1995, group company Hathway Investments Private Limited entered the print media. OUTLOOK, a weekly newsmagazine headed by Vinod Mehta, galvanized 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, sensitized 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 is one of India's four top-selling English weekly newsmagazines. Like many other Indian magazines it is reluctant to reveal its circulation, but the 2007 National Readership Survey suggested 1.5 million copies. OUTLOOK's competitors are India Today & The Week. Currently it has several magazines like OUTLOOK Business, OUTLOOK Profit, OUTLOOK Money, GEO, Marie Claire, People, Traveller, Career 360, News Week to name a few. ORGANIZATION HIERARCHY
  13. 13. 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 SENIOR MANAGERS ASSOSIATE MANAGERS MANAGEMENT AND STAFF 3
  14. 14. EDITOR IN CHIEF Vinod Mehta PRESIDENT& PUBLISHER Maheshwer Peri EXECUTIVE EDITOR Bishwadeep Moitra FEATURES EDITOR Nandini Mehta FOREIGN EDITOR Ajaz Ashraf BUSINESS EDITOR Sunit Arora SENIOR EDITORS Ajith Pillai, Anjali Puri POLITICAL EDITOR Smita Gupta BUREAU CHIEF Saba Naqvi Bhaumik BOOKS EDITOR Sheela Reddy DEPUTY FOREIGN EDITOR Seema Sirohi ASSISTANT EDITORS Namrata Joshi SENIOR SPECIAL CORRESPONDENT Anuradha Raman SPECIAL CORRESPONDENT Saikat Datta, Nivedita CORRESPONDENTS Shruti Ravindaran BUSINESS OFFICE VICE PRESIDENTS Suresh Selvaraj ASST VICE PRESIDENT Alok Mathur GENERAL MANAGERS Anup Dwived DY GENERAL MANAGER Gaurav Kr. Vashisht NATIONAL HEAD Himanshu Pandey REGIONAL MANAGERS Anand Shirali, Arokia Raj SENIOR MANAGERS B.S Johar, Kabir Khattar ASSOSIATE MANAGERS Bobby Mathews, Chetana Shetty HEAD OFFICE AB-10 S.J. Enclave, New Delhi – 110 029 Tel: 26191421; Fax: 26191420 OUTLOOK & Its PRODUCTS
  15. 15. 3
  16. 16. The premium fortnightly that packs market intelligence & incisive analysis of the stock market, while capturing emerging trends & tracking market experts & their moves. This magazine tells you which stock you should buy or avoid, also contains comparative figures of domestic and international market, and if you want to update your knowledge related to automobiles and movie reviews then this is one of the best magazines for our readers. 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.
  17. 17. 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. 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, and 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. 3
  18. 18. It‘s a weekly magazine. It covers international affairs this magazine was honored by best magazine award at international level in 05. News week offers comprehensive coverage of world events with a global network of correspondents, reporters and editors covering national and international affairs, business, science and technology, society and arts and entertainment. It is truly a magazine, which fuels the global perspective. OUTLOOK Traveller 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 also encouraging travelers to take a fresh look at familiar places. Whether people are planning a holiday, or simply dreaming of one, OUTLOOK Traveller continues to take them closer.
  19. 19. The European print media company owned by the German media major Bertelsmann, is making 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 a 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. 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’. 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. 3
  20. 20. AWARDS & ACCOLADES • Department of Tourism, Government of India Award, National Tourism Award 2001-2002 awarded to OUTLOOK Traveller for Excellence in Publication. • OUTLOOK Traveller " 100 Holidays in the Hills" won the 2004, PATA Gold Award • In 2002-2003 the Government of India recognized "OUTLOOK Traveller Getaways" as the “Best Travel Publication". • Weekend breaks from Delhi was in the BESTSELLERS top three, non- fiction category for 14 consecutive weeks in North India • Weekend breaks from Mumbai was in the BESTSELLERS list top three for 8 consecutive weeks in West India OUTLOOK Money Awards: The awards started in 2002, and are presented to the best in the following key personal areas: • Value-Creating Companies • Wealth Creators(Mutual Funds) • Banks • Online Brokers • Home Financiers • Hall of Fame
  21. 21. OUTLOOK WEBSITES 1. outlookindia.com 2. outlookmoney.com 3. outlooktraveller.com outlookindia.com: In 1998, OUTLOOK went online as OUTLOOKindia.com; OUTLOOKindia.com is both OUTLOOK magazines’ home on the Internet and an online publication. Apart from OUTLOOK's print edition in its entirety - supplemented with links to related articles on its own site. OUTLOOKindia.com also offers an array of original Web-only columns and news updates every day with a very lively interactive section. outlooktraveller.com: Inaugurated as a web resource in 2000, this travel Website has since come a long way. Outlook Traveller began by opening up new vistas in web-driven vacation planning, with its highly focused editorial features on an array of destinations, from selecting your destination, to choosing your mode of transport, finding your way around the map, selecting a place to stay to catching the local festivities, plus ferreting out the nearest ATM, fuel stop or cybercafé. Here there is something for everyone; themed vacation ideas from 'A for adventure' to 'W for wildlife', honeymooners dream destinations. OUTLOOKmoney.com: OUTLOOKmoney.com takes forward the philosophy and beliefs usher in by Intelligent Investor (the personal finance magazine that was launched in mid-1998, now known as OUTLOOK Money). The site has six channels -- Stocks, Mutual Funds, Loans, Retirement Planning, Taxation and Insurance -- that address broad areas of the personal finance spectrum. OUTLOOKmoney.com comes with many interactive tools. 3
  22. 22. Fig. 1 In fig. 1, OUTLOOK quarterly sales doughnut is being described and it is observed that during 2nd quarter (Jul – Sep) and 4th quarter (Jan – Mar) maximum revenue is earned reasons thereof are as follows: 1. In the middle of 1st and 2nd quarter, company appoints college interns, who are really enthusiastic and focused towards their work. Secondly, company launches Bonanza offers during this period. 2. During last quarter, every employee gives his/her best performance to achieve the annual targets and company earns maximum profit through its ‘Subscription & Retail division’. CHAPTER – 3
  23. 23. OUTLOOK & Its Competitors OUTLOOK Group 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 (World‘s leading international news magazine) OUTLOOK (ENGLISH) INDIA TODAY 3
  24. 24. OUTLOOK vs. INDIA TODAY INDIA TODAY is considered as major competitor of OUTLOOK, thirty five years old brand, which has touched all the segments of the market and shown a ray of light to Print Media. During my Internship, I have gathered customers’ feedback, which show a gradual change in the preferences of customers, which is being discussed in the following figure: Fig. 2 In fig. 2, customers’ feedback is being compared, amongst two print-media Groups and it is found that India Today, which is 35-years old brand, has been performing well consistently and OUTLOOK Group has surprised everyone by aggressive marketing during the last 15-years and beaten the Champion of its field by circulating its eleven magazines which fulfill the needs of different age group people belonging to different sectors.
  25. 25. Fig. 3 In fig. 3, it is clearly shown that Advertisement division gives 45% revenue followed by Retail (30%), Subscription division (20%) and Events Sponsorship i.e. only 5%. Group earns maximum revenue by publishing advertisement in their magazines, retail and subscription division together gives good figures to the Group by circulating 1.5 million copies. Similarly, small but effective division, Event sponsorship also contributes by organizing Award ceremonies. 3
  26. 26. SWOT ANALYSIS STRENGTHS 1. Eleven different magazines which cover each and every segment of the market and fulfill the needs of different age group belonging to different sectors. 2. Exclusive photography and articles, OUTLOOK does not copy the content from internet and paste in its magazines. 3. Co - promoters of international magazines like - Marie Claire, GEO and News week with reasonable prices. 4. OUTLOOK has well organized and experienced man power, which approach directly and indirectly as well, to the readers. 5. OUTLOOK has set up its own strong distribution channel, which circulate 1.5 million copies in INDIA. 6. OUTLOOK gives you multiple times address change flexibility and charge nothing for the service. 7. OUTLOOK is known for its range of magazines, subscription offers (also available with internet edition) and on the spot delivery of the gifts which one cannot ignore.
  27. 27. WEAKNESSES - Slow Processing 1. It takes four weeks in delivering first copy of the subscriber and two weeks in case of address change. 2. If gift is not delivered by the executive then OUTLOOK takes two months of time in delivering the gift. OPPORTUNITIES 1. OUTLOOK can increase its product line by launching three new magazines, related to auto industry, magazine for beauty parlours exclusively and OUTLOOK technology these three can increase the market share of OUTLOOK. 2. OUTLOOK has an opportunity to promote its magazines at international level with international edition. THREATS 1. Strong competition - number of International Brands are coming to India and competing for the market share by increasing the product line, 2. Perception of readers’, OUTLOOK favours Congress party and does not write anything against the party. 3
  28. 28. MARKETING STRATEGIES ADOPTED 1. Mass impersonal selling methods (Advertising). Pull Blend. 2. Face to face personal selling (Salesman ship). Push Blend. Both of these are closely related to the Channel of Distribution. 1. A Pull Blend is one in which mass impersonal, sales efforts are given the greatest emphasis. The purpose of pull blends to pre-sell to the final consumers so that they demand the product at the retail level of distribution. The firm adopting this strategy would spend more on advertising and sales promotion rather than in personal selling. 2. A Push Blend emphasizes personal selling. Naturally firms adopting this method develop a strong sales force at both the distributor and the dealer level; this method would tend to push the product through the channel of distribution.
  29. 29. Promotion and Selling The term promotion is very often used as a synonym for selling. But selling is a narrow term which includes only transfer of title or personal selling. Promotion on the other hand is broader in its outlook and includes a variety of activities used ultimately for increasing sales volume. Promotion has come to mean the overall co-ordination of advertising selling, publicity and public relations. Promotion is a helping function designed to make all other marketing activities more effective and efficient. Objective of Sales Promotion 1. To increase sales directly by publicity through media. 2. To attract new consumer. 3. To face the competition effectively. 4. To help salesman in selling more to the retailers and consumers. 5. Generally speaking sales promotion involves rendering the following services:- (a) Services to dealers. (b) Services to own salesman. (c) Special publicity. CHAPTER - 4 3
  30. 30. PROJECT WORK • TITLE – MARKET SURVEY & PRODUCT PROMOTION My experience with OUTLOOK Group is unforgettable. During my training session, I have done lots of activities and learnt marketing, selling & promotional techniques. It was all systematically planned and implemented. • I was in Marketing & Product Promotion division in Chandigarh. We had Projects with us, which were to be completed in 2 – 3 months. Our main task was to promote the magazines of OUTLOOK. • First month, we directly approached the customers and learnt how direct marketing is done. • Second month, we visited several Govt. offices like Banks, Lekha Bhawan, etc. and Corporate offices like Godrej, Mahindra, Dell, Quark, etc. in ‘Chandigarh & Mohali’ respectively to meet potential customers. • During third month, we set up canopies at various places like outside gardens between 6 Am – 7:30 Am for promoting our new offers and got healthy response. • We together achieved our personal as well as professional goals and we had given lots of business to the company. • Fortunately, I got placed in good ambience and with well groomed staff members. My Asst. Manager made me to think conceptually and broadly and taught business tactics which were really effective and valuable.
  31. 31. NEED OF THE PROJECT Summer Internship is a crucial period of an MBA program, during this period we get an opportunity to be a part of some organization, where we get matured and learn: • How strategies are made and implemented? • How work is done in teams? • How performance is evaluated? • Why targets are important to achieve? These are few things which we learn as an Intern and Summer Internship gives a view of business world before we professionally join it. WHAT I HAVE LEARNT On my Training Session I have learnt following things: ∴ FIELD MARKETING ∴ MEETING AT SALES CALL ∴ CONVINCING TECHNIQUES ∴ COMPLETION OF DOCUMENTS I THANK OUTLOOK GROUP FOR THIS OPPORTUNITY BECAUSE THIS IS ONLY THE WAY WHERE STUDENTS FACE REAL PRACTICAL LIFE AND LEARN THE STRATEGIES OF CORPORATE WORLD WHERE PRACTICAL EXPERIENCES ARE DIFFERENT FROM THE THEORETICAL PAGES. 3
  32. 32. OBJECTIVES OF THE PROJECT ∴ To promote the magazines of outlook in Chandigarh. ∴ To find the magazine readership percentage in Chandigarh. ∴ To find the frequency of magazines purchased or subscribed - weekly, fortnightly, monthly in Chandigarh. ∴ To find the most preferred magazine in Chandigarh. ∴ To find the monthly budget of readers for their favourite magazine. ∴ To identify the factors which motivate readers to purchase a magazine. ∴ To find most preferred magazine of outlook in Chandigarh.
  33. 33. LITERATURE REVIEW Two ways of distribution 1. Subscription (division contributes 20% revenue) 2. Retail (division contributes 30% revenue) ∴ In case of Subscription, magazines are delivered at readers' doorsteps through courier in top 10 cities of INDIA like Delhi, Mumbai, Chandigarh, Ahmedabad, Chennai, Kolkata, Lucknow, Hyderabad, Bangalore and Pune and for other places magazines are delivered through speed post. ∴ In case of Retailing, the magazines are printed in NOIDA and the number of copies or the print order depends upon the requirements of various retail points. 3
  34. 34. OUTLOOK UMBRELLA OUTLOOK Group is divided into four parts, which are well explained in this figure. Group earns its revenue through these divisions and all the functioning of the Group depends upon these four divisions.
  35. 35. PRODUCTS DETAILS S. NO. MAGAZINES PRICE ISSUES/YEAR 1. OUTLOOK ENGLISH Rs.25/- 51 2. PROFIT Rs.50/- 26 3. BUSINESS Rs.25/- 26 4. MONEY Rs.30/- 26 5. TRAVELLER Rs.75/- 12 6. MARIE CLAIRE Rs.75/- 12 7. PEOPLE Rs.30/- 26 8. GEO Rs 100/- 12 9. NEWSWEEK Rs.75/- 51 10. CAREERS 360 Rs 40/- 12 These are 10 magazines which I have promoted during my internship with well designed Subscription Offers. OUTLOOK, TRAVELLER and GEO were the best selling magazines. 3
  36. 36. CHAPTER - 5 RESEARCH METHODOLOGY During research, non- probability sample method has been used; under it I chose Convenience sampling & Judgmental sampling 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 Tools for Analysis Different types of tools have used during data analysis and interpretation for example: histograms, doughnut, pie-charts, tables, etc.
  37. 37. DATA ANALYSIS and INTERPRETATION Demographic Factors Fig. 4 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. 3
  38. 38. Fig. 5 In fig. 5, 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.
  39. 39. Q1. Do you read magazines? Fig. 6 During survey, I found 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 don’t have enough time to read these papers and now-a-days internet is a solution of every problem then why should we subscribe magazines? 3
  40. 40. Q2. How often do you read magazines? Fig. 7 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.
  41. 41. Q3. What kind of magazine, do you read? Fig. 8 Fig. 8 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. 3
  42. 42. Q4. What is your monthly budget for your favorite magazine? Fig. 9 52% people spend less than Rs. 150 p.m. for magazine and 33% spend between Rs. 150 – 300 which is not a small figure and this is a good sign for Print Industry and people who are spending above Rs. 300 p.m. are giving regular business to the Industry and can’t be ignored.
  43. 43. Q5. How do you get your magazine? Fig. 10 This figure shows that 61% people purchase magazine from retail points and 39% people subscribe, reasons thereof are as follows: - In case of subscription they pay in advance, which they reluctant to pay. 3
  44. 44. - They are not sure of delivery in case of subscription. Q6. What attracts you to purchase magazine? (Rank accordingly from 1 - least attractive to 10 - most attractive) Fig. 11
  45. 45. 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? 3
  46. 46. Fig. 12 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. Q8. Have you ever tried OUTLOOK subscription? Fig. 13
  47. 47. When I asked this question, 6% people said that we have never subscribed OUTLOOK and 4% are regular subscribers of OUTLOOK, this is not a bad figure in today’s competitive environment. Q9. Which brand of OUTLOOK, would you like to subscribe? (If interested) 3
  48. 48. Fig. 14 I asked this question from respondents who belong to different sectors and accordingly got the reply, which are as follows: • Doctors: Geo or Traveller or Marie Claire • Govt. Employee: Outlook or Careers 360 or Money • Finance Tutors: Money or Profit or Business • Saloon Owner: Marie Claire or People or Traveller
  49. 49. Q10. Any suggestion for OUTLOOK GROUP ___________________________________________________________ ___________________________________________________________ ___________________________________________________________ ___________________________________________________________ ___________________________ In an open ended question we have got following suggestions: • Launch magazines related to Auto Industry, Saloon magazine and Digital magazine. • Improve Delivery system. • Magazine Processing and delivery should be fast. • Promote with good offers • Gift should be delivered on the spot. • Magazine should be delivered through courier service. 3
  50. 50. CHAPTER- 6 FINDINGS OF THE STUDY ∴ OUTLOOK has its good Brand Image in the market. People are familiar with the Group. ∴ People believe that Mr. Vinod Mehta (Editor-in-Chief) of OUTLOOK has good relations with congress party and therefore group always favours the party. ∴ Group has its tie-ups with big brands like – United Colors of Benetton, Adidas, Liberty, Hidesign, Numero Uno, etc. and simultaneously promotes their products with the magazine subscription. ∴ During research session I got to know the needs and preferences of readers. ∴ The different buying behaviors of respondents have given the insight regarding their different areas of interest. ∴ Print media is growing by 12% compound annual growth rate. ∴ Magazine readership has been reduced by 25% because of web media. ∴ OUTLOOK is no .1 in circulation because of aggressive marketing. ∴ The increase in Foreign Direct Investment in India in print media industry is also a bold step as part of government decision. Now it has been increased from 26% to 76%.
  51. 51. BENEFITS TO THE GROUP ∴ International tie-ups will help the Group in increasing its market share. ∴ Good product line will attract more customers and increase readership. ∴ Strong and experienced man power will take the Group to the new heights. ∴ Tie-ups with good brands help in building positive image and make the Group trustful. ∴ Customer feedback survey may take the Group in right direction; every company should keep in mind the basic needs of an ordinary man if it wants to grow. ∴ Summer interns help the company in increasing sales: In the middle of 1st and 2nd quarter, company appoints college interns, who are really enthusiastic and focused towards their work. Secondly, company launches Bonanza offers during this period. ∴ OUTLOOK Group is going to launch few more websites, where readers will be able to view their current edition or previous edition as well. Right now the Group has only four websites. 3
  52. 52. SUGGESTIONS ∴ The group has its strong Brand Image but people are not aware of the magazines which come under OUTLOOK umbrella, Group should promote following brands:  GEO  MARIE CLAIRE  CAREERS 360  NEWSWEEK ∴ Group should design new systems to increase the efficiency of sales executive. ∴ Group should promote its magazines at international level.
  53. 53. ∴ Tie-ups with international magazine publication houses will help in increasing market share and Group will be able to cover international markets. ∴ Backbone of the Group is its experienced manpower and Group should take care of the needs and resources they want for implementing the strategies. LIMITATIONS ∴ The Research study is confined to only few sectors of Chandigarh. ∴ Data collection was not as easy as it looks; during research we have seen grey faces and some respondents were not willing to fill the questionnaire. ∴ People do not co-operate with marketing executives and they don’t have free minutes to attend them. ∴ Some people directly refused to co- operate and some gave biased and dishonest replies. ∴ Time, Money and other Resources also acted as a barrier. ∴ Questionnaire should be of single page only. ∴ People were not ready to fill personal details like Mobile Numbers. 3
  54. 54. REFERENCES & BIBLIOGRAPHY Secondary Data ∴ OutlookIndia.com ∴ Businessstandard.com Primary Data ∴ BROCHURES of OUTLOOK Group ∴ Through personal Interview
  55. 55. ANNEXURE 3
  56. 56. Highlights of the Company • Total Turnover: Over Rs. 86 billion ($ 2.1 billion) • Total Capital Employed: Over Rs. 57 billion ($ 1.4 billion) • Total Employees: 19,000 Mission • Achieve customer delight by offering quality products and services through a process of continuous innovation and adaptation. • Build a dynamic team of committed and passionate employees through sustained learning and grooming. • Develop mutually beneficial relationships with our business partners. • Employ cost-effective processes and thereby create a strong organization.
  57. 57. Vision • To be the first choice for our customers, people and investors. Values • Integrity • Teamwork • High Achievement • Service Excellence • Building Shareholder Wealth Annual Pro Forma Profit and Loss Total Income 20,180,000 Cost of Goods Sold (4,200,000) Gross Profit 15,980,000 Gross Profit % 79.19% Expenses: Payroll 750,150 Materials 1,050,210 Accountants 83,350 Legal 60,000 Insurance 24,000 3
  58. 58. Payroll Taxes (15%) 112,523 Total Operating Expenses (2,080,233) Profit before Interest and Taxes 13,899,768 Taxes Incurred (3,850,130) Net Profit 10,049,637 Net Profit/Sales 49.80% Profitability Ratio • Gross Profit Ratio = Gross Profit * 100 Net Sales • It Measures The Relationship Of Gross Profit To Net Sales. • GP = Net Sales – Cost Of Goods Sold • Net Sales= Total Sales – Sales Return • GPR = 15980000 * 100 = 79.19% 20180000 • Net Profit Ratio = Net Profit After Tax * 100
  59. 59. Net Sales • It Measures Relationship between Net Profits to Sale. • NPR = 10049637 * 100 = 49.79% 20180000 • Interpretation- High Ratio is Better Trend Analysis Trend Percentages (Base Year 2007 = 100) Year Sales Profit Before Tax Amount Trend% Amount Rs. Trend% Rs. 2007 15,329,610 100 8,821,402 100 3
  60. 60. 2008 18,129,020 118 11,320,111 128 2009 20,180,000 131 13,899,768 157 Trend percentage for 2008 = 2008 * 100 2007 = 18129020 * 100 = 118 15329610 Trend percentage for 2009 = 20180000 * 100 = 131 15329610 Similarly, PBT for 2008 = 11320111 * 100 = 128 8821402 And PBT for 2009 = 13899768 * 100 = 157 8821402 Interpretation • Sales are continuously increasing and is quite satisfactory • Profit before tax has increased substantially. Profits have increased more than sales which show that there is a proper control over cost of goods sold.
  61. 61. Experience with British Library We also had a rough but challenging experience with British library. In the first meeting, they were interested in our primary product (magazine) whereas in second meeting, they were offer - oriented and reluctant. They were negotiating for offers but we were helpless because we couldn’t promote products beyond our limits. I was calm and polite with them and thought how Mahatma Gandhi dealt with Britishers. I did the same and after almost a month, I received their call and finalized the deal without any compromise. I take it as an achievement 3
  62. 62. because they have very selected brands in their portfolio and now Outlook is one of them. OUTLOOK SUMMER BONANZA OFFERS
  63. 63. TERM OUTLOOK PEOPLE MONEY PROFIT TRAVELLER MARIE GEO GIFTS CLAIRE 5-years, 255 ISSUES 130 130 130 60 ISSUES 60 ISSUES 60 BENETTON Rs. 2999 ISSUES ISSUES ISSUES ISSUES GLASSES + 2 T-shirts 3-years, 153 ISSUES 78 ISSUES 78 ISSUES 78 ISSUES 36 ISSUES 36 ISSUES 36 3 Rs. 1799 ISSUES BENETTON T-shirts 1-year, Rs. 51 ISSUES 26 ISSUES 26 ISSUES 26 ISSUES 12 ISSUES 12 ISSUES 12 1 699 ISSUES OUTLOOK Travel Guide EXCLUSIVE OFFERS TERM TRAVELLER GIFTS TERM BUSINESS GIFTS 3-years, 36 ISSUES 5-years, 130 ISSUES Hidesign EX- Rs. 1750 Timex watch Rs.1599 Bag 2-years, 24 ISSUES Rucksack 3-years, Rs. 78 ISSUES Hidesign Rs. 1199 Bag 999 Wallet 1-year, Rs. 26 ISSUES 23% TERM GEO GIFTS 499 Discount 3-years, 36 ISSUES TERM CAREER GIFTS Rs. 2100 Timex watch 360 2-years, 24 ISSUES Rucksack 1-year, Rs. 12 ISSUES Thermal Rs. 1500 Bag 350 Mug 3
  64. 64. OUTLOOK SUBSCRIPTION PROPOSAL Dear Sir/Ma’am Greetings from OUTLOOK GROUP!!!!! We are promoters of OUTLOOK Magazine in Chandigarh and we have tried to cover each and every segment of the market with the help of our product (Magazines). We are promoting our magazines in corporate offices, Educational Institutes and places where we find human-beings who are interested in enhancing their knowledge. Our product line consists: • OUTLOOK – Current Affairs • MONEY & PROFIT – Finance & Stock Market • GEO – Knowledge & Discoveries • TRAVELLER – Sight-seeing • BUSINESS – Corporate World • MARIE CLAIRE – Women Segment • PEOPLE – Celebrities These are our Primary Benefits to our readers, complimentary gifts and savings are Secondary Benefits. We intend to avail an opportunity to meet and share more about our Company and Product. Please call to set an appointment at your convenience. We’ll make efficient use of your time. I appreciate for your taking the time to review our Proposal. Thanking you in anticipation. Expecting for a favourable reply Warm Regards, * Amit Arora
  65. 65. (Intern, OUTLOOK) QUESTIONNAIRE Name: Age: Occupation: Mobile No. Q1. Do you read magazines? Yes No Q2. How often do you read magazines? Weekly Fortnightly Monthly Q3. What kind of magazine, do you read? News Entertainment Knowledge Finance Travel & Tourism Business Career Financial 3
  66. 66. Q4. What is your monthly budget for your favorite magazine? Below Rs.150 Rs. 150 – 300 Rs. 300 – 450 Above Rs.450 Q5. How do you get your magazine? Through Subscription Through Retailer Q6. What attracts you to purchase magazine? (Rank accordingly from 1 - least attractive to 10 - most attractive) Least Attractive Most Attractive 1 2 3 4 5 6 7 8 9 10 Brand - - - - - - - - - - Image Content - - - - - - - - - - Special - - - - - - - - - - Offers Service - - - - - - - - - - Availability - - - - - - - - - - Q7. On what scale 1 – 10, where 1 is unacceptable and 10 is outstanding, do you rate the following magazine? Outlook Geo
  67. 67. India today Traveller The week Money The Economist Profit Femina Q8. Have you ever tried OUTLOOK subscription? Yes No Q9. Which brand of OUTLOOK, would you like to subscribe? (If interested) OUTLOOK GEO TRAVELLER MONEY PROFIT NEWSWEEK MARIE CLAIRE CAREERS 360 PEOPLE BUSINESS Q10. Any suggestion for OUTLOOK GROUP 3
  68. 68. ________________________________________________________________ ________________________________________________________________ ______________________________________________. “News is something, someone, somewhere does not want to read, rest is PR”. THANK YOU

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