Identification of segments & generation of sales strategies for OUTLOOK magazine Presented byGaurav Tyagi A0101909419
About Outlook It is a part of Rajan Raheja’s group.
Outlook is basically one among the renowned
publishing houses which is into a great business.
The main two objectives of any publishing group areTo increase Geographical dispersion/circulation. To improve readership profile.
Industry Profile There are two main sources of obtaining data
to determine readership of any publication
National Readership Survey(NRS)
Indian Readership Survey(IRS)
NRS This is basically a survey on media but
especially on PRINT MEDIA conducted byNational Readership Studies Council(NRSC) Audit Bureau of Circulation(ABC) Advertising Agencies Association Of India(AAAI) Indian Newspaper Society.
IRS Indian Readership surveys are conducted by
Media Research Users Council(MRUC) And was the largest continued media survey with Sample of 29,000 readers. Providing a single source database for demographics. Media habits &products/brand usage. And it was conducted over two rounds.
Both NRS &IRS Gives media consumption habits, product
ownership & consumption, lifestyle indicator on macro and geographical parameter. Acc. To NRS 2005
press adds 38 million readers in the last two years.
Press continues to grow, adding 31 million readers between 2005 to 2008.
Literature reviewMarketing is the key factor in the marketing
mix & has got a key role in the market success. Likeadvertising motion public relations direct marketing sponsorship &sales promotion
Sales promotion are marketing and
communication activities which change the price/value of the product or service perceived by the target , thereby, Generating immediate sales Altering long-term value of the brand.
In order to develop a successful promotion
strategy, the target market must be clearly defined. To understand the customer’s mental process, the customer leaning curve is quite useful. Need Awareness Access Motivation Purchase Know-how Experience value Retention
Company profile Company started its beginning about a quarter
century before the onset of the ICE age, with its Construction business. After a huge presence in real market, it got diversified into -Manufacturing -Financial services -Media
Today’s scenario The list of Group’s Successes is long and
eclectic H&R Johnson(India)ltd is the top name in
ceremic tiles. Exide is one among the strongest brand of
Outlook Outlook Money Outlook Traveler Outlook profit Outlook business GEO Marie claire
Web Media Outlook India.com Outlook Traveller .com Outlook Money.com
ObjectivesFind out sales of magazine at various shops in-
Green Park. Vasant Vihar IIT Identify new segments and list out potential clients. Genereration of sales in each of the segments.
Promotional options offeredCover on cover.
Offered to the clients, depending upon the number of the subscriptions they contract for. Strip.
Flap. Gifts – With every type of subscription, the company
uses push strategy for different magazines.
CompetitionFor NEWSWEEK – For OUTLOOK BUSINESS
TIME BUSINESS TODAY BUSINESS
WORLD For OUTLOOK TRAVELLER- NO ONE For OUTLOOK EGO NO ONE For OUTLOOK PROFIT FROM NEWSPAPERS For MARIE CLAIRE VERVE
Findings of market studyMarkets studied are
GREEN PARK MARKET BASANT LOK MARKET BER SARAI IIT MARKET
All the markets sold the no. of copies they ordered for.
Observations from the market studyPOP displays are maximum from outlook group. No. of copies for outlook sold by any retailer
are almost similar. More or less, Time &Newsweek magazines are displayed together on the stalls. Time banners/posters were not displayed at any of the shops. Newsweek circulation was not bound to be satisfied by few of the retailers in GREEN PARK.
Parameters for segment IdentificationPrice of the product. Product profile. Benefit to the client. Requirements of the client.
-Rooms -Public Areas -Business Lounges -Fleet of cars. Car rentals. PVR /Cinemas.
Procedure adoptedPrepare a comprehensive list of prospective clients
in each segment. Gather information about a client &the key decision maker. Take appointment. Meet the client. Send proposal. Follow-up Settle terms &conditions. Contract. Delivery &POD.
Noida Golf Course. Army Golf Course. Premium clubs The resort country club. Delhi Flying club. Aero club of India. Delhi race club.
ContinuedHotels
The claridges. Shangri-la The park Hyatt The oberoi
Parameters For Market Survey AnalysisGender Performance for english magazines. Type of magazines acc. to prefrences by
respondents. Analysis of reading hobbits of the respondent. Place from where magazines are purchased. Magazines subsribed by respondents. Motivation for magazine subsription. Gift evaluation parameters.
ContinuedEvaluation of magazines on the basis of
various attributes. Analysis of OUTLOOK magazines on the basis of attributes. Perception of customers about OUTLOOK magazine. Areas over which OUTLOOK needs improvement.
RESULTS
FindingsCustomers have inclination towards the gifts &
so has been used by the OUTLOOK group. Salesmen selling magazines can only be
successful if they are proactive. Clients will only buy the product if they get
some value out of that.
SuggestionsFollow-up is very crucial for any call & hence
should be done very thoroughly by sales executive. DSR(Daily Sales Report)should come under the
system to improve efficiency.
Customized sample copy on the first meeting
would impact more.
LimitationsMore than one decision maker. Clients were very apprehensive since one of
the magazine was new. Off- season for some of the clients. Client’s perception about magazine &brand loyality. Client bound by budget or contract with some other magazine.
ConclusionSegment covered in the project are golf courses,
premium clubs ,hotels & car rentals.
Segments have large potential and are not tapped
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Investment Firms Pharmacy Companies Builders Credit Card Companies Hospitals / Nursing Homes MBA Institutes Builders