TASK 1

CUSTOMER RELATIONSHIP MANAGEMENT

CUSTOMER RELATIONSHIP MANAGEMENT

CRM is the core strategy which integrates internal and external processes to create and to deliver
value to valuable customer and thus increasing the profitability.
CRM is technology enabled and aims at enhancing the customer experience. It helps to align the
business processes with the customer needs so as to enhance the customer experience through
loyalty programmes.

TYPES OF CRM
Strategic CRM: It is taken at the management level and its aim is to deliver value better than
competitor and winning and keeping the profitable customers.

Operational CRM: It basically deals with automation of the various processes so as to save time
and increase productivity of the organization.

Analytical CRM: It refers to the capturing, storing, extracting, processing and interpreting the
data. Also called the Heart of CRM.

OBJECTIVES OF CRM

LIFETIME VALUE- Refers to the net present value of the potential revenue stream for any
customer over years.
Starts with current purchase activity then extrapolates to include potential additions from cross-
selling, upgrades, total ownership.

CUSTOMER OWNERSHIP- Building brand equity, maintaining vigilant customer contact,

keeping current with the market trends is critical.
5% points increase in customer retention =20-125% increase in profit.
GEMSTONE CRM
It is the most used CRM Tool in the media companies. It is a product of Miles 33. This tool can
easily be configured with the business processes in the organization. It allows integration of
different application which are already in use in the organization thereby providing a unified
interface as far as the data is considered. This integration helps the management get a clear-cut
view of the business so that they can understand and be up to date with the changing business
scenario.

With the focus of most organization shifting from transactional business mode to customer
centric mode this software is of great help. This simple application if procured by the
organization can be used in multiple modes. Say the sales person needs a much shorter interface
hence he will be seeing only those which are of his needs, similarly the managers will see what
they need. This helps to avoid complexity and ambiguity of the technology. This helps the
organization to align to its goals.

It can perform various tasks like: inventory management, tracking, process management, lead
qualification, follow up service, etc.

Using gemstone CRM tool brings a lot of advantage to the organization like: - It is cost saving, it
provides improved customer service and, in the process, increases the revenue, it saves lot of
time and in a way increases the productivity.
 FOLLOWING ARE THE FEW MEDIA HOUSES USING GEM STONE AS A CRM TOOL:

India Today Solutions Provided Results

1,600,000 + Circulation Sales forecasting Improved service quality
15M + readership Lead generation Improved sales force performance
Lead qualification Improved net promoter score
Automated messaging Improved cross selling
FILMFARE MAGAZINE Solutions Provided Results

140,000 + circulation n Automated mailing Prospecting time of the leads

reduced.
4,00,000 + readership Lead qualification
Increased productivity

OUTLOOK GROUP MAGAZINE Solutions Provided Results

Relationship Management 250% increase in opportunity

conversion
425,000 + circulation n Calendar Management
40% reduction in rework during
Opportunity Management
sales process
4M+ readership Account Planning
68% improvement in sales
Performance Management turnaround time
60% increase in average wallets
share
DETERMINATION OF COMPETITION

The Known Competitors are those who are operating in the same market and offering same
product or services. It is basically the different print media houses with Outlook competes with
on a daily basis. The Future potential competitors are those who provide different services like
TOI, NDTV however they can replace the print media. People may no longer value the print
media rather they can go for watching the news video.
Known+ Potential competitors are those competitors who are operating in different region and
are providing the same product. Vogue is now in India but it can come in India and adapt to the
national culture and give tough competition to the Outlook Group. Unpredictable competitors are
those who come out of the blue and poses a great amount of threat to the operating firm.

MARKET LEADER`S STRATEGY

Outlook is a market leader in the print media segment. Hence, to hold its position it needs to
follow certain strategy to live up to the dynamics of the market. Preemptive Strategy is doing
something much before the competitor in order to get a first mover advantage. Counter offensive
strategy is to do something if a competitor does so as to nullify the competitor`s moves. Flanking
strategy is doing something which the competitor has done so as to not lose the market
share. Contraction policy is giving up those functions which does not add much value. Mobile
defense refers to the strategy of diversifying to minimize the risk element.
DIFFERENTIATION STRATEGY BY OUTLOOK

Features: Superior Quality paper and Packaging

Performance: Outlook known for its statistical analytic view and unbiased opinion.
Conformance: Outlook never compromises its competencies under any situation.
Durability: Outlook Magazines are more durable than its immediate competitors because of the
high-quality paper used.
Reliability: Outlook news are highly reliable and can be trusted.
Reparability: In case of physical damage of the product, the magazine is replaced from the
nearest retail outlet.
Style: Outlook Magazine specially Outlook business has a style of international magazine.

INDUSTRY / MARKET ATTRACTIVENESS

Category Size: Category size is large as readership in India is highly prevalent
Category Growth: It`s stunted as the market has reached saturation
Stages in PLC: Decline.
Sales Cyclicity: Hugely dependent on Business Cycle. Impacted by Covid.
Seasonality: Not affected by season.
Profits: Squeezed Margin

PESTEL ANALYSIS

Political Factors
 The Print Media industry is hugely impacted by the political sector especially with
respect to the political news they publish.
 There are certain unofficial obligations which need to be kept in mind before printing.
 India being a democratic country, the print media companies from India can expect
investment from foreign companies.
Economic Factors
 Magazine is not a necessity. The demand depends on the income level.
 Lesser the unemployment better it is for the Magazine industry as more readership will be
prevalent.

Social Factors
 Education level tends to impact the readership and hence the profitability of the industry.
 Cultures where girl education is not allowed is not a attractive one for the Outlook Group.

Technological Factors
 Companies in the print media sector should be able enough to undertake any change in
technology.
 As such there is no machinery or technology involved.
 Digitalization is one of the most important technological advancement in this industry.
Environmental Factors
 The weather greatly impacts this industry as excessive rain or bad weather can cause
delivery problem.
 Adverse rain can spoil the product.

Legal Factors
 Being a media company there are certain rules that should be abided by.
 There are certain rules organization should maintain in terms of business ethics and
corporate governance.

The infrastructure of Outlook is Product focused. Its human resource is key to generate the
revenues through personal selling and relationship selling. The various technology the company
has invested in included Website subscription model, CRM software, and digital marketing tools.
In its procurement from it has excellent relationship with its suppliers.
In has good control over the inbound logistics as it has very few suppliers. Efficiency and
responsiveness both are important constituent for the supply chain of the Outlook Group. As part
of its Outbound Logistics, it has Blue Dart, CFA of states and the retail. Marketing is done
through event marketing and digital interface so as to win visibility. After sales service are
available for the B2B segment.
RESEARCH METHODOLOGY
The study was conducted through the online mode. Questionnaire was prepared and floated and
responses were collected. Data used was mostly collected through the primary research.
Source of Data: - Data was collected through responses of the questionnaire and unstructured
interview. For a few respondents, scheduling method was also used.
Sampling Procedure: - Here the sampling procedure used was random sampling. Each
observation had equal likelihood to get selected.
Sample Size: - 100 responses were collected from the customers of the print media industry to
know and understand their outlook.
Period of study: - The study period which was chosen from 7th June,2021 to 7th August 2020
which was during my internship period.

TO COMPARE THE CUSTOMER LOYALTY OF OUTLOOK MAGAZINE AND THE TIMES

MAGAZINE

OUTLOOK INDIA TODAY

PROMOTERS 29 19
DETRACTORS 17 12
PASSIVES 7 10
TOTAL 53 41

NET PROMOTER 22.64% 17.07%

SCORE
PRIMARY REASON Content and Physical attributes Variety of magazines
FOR SCORE
SUGGESTED Distribution Price
IMPROVEMENTS

It is found that for the Outlook magazine group, the number of Promoters is more and number of
Passives are less. Promoters are those people who will rate the brand highly and will recommend
the brand to others. Passives are those people who will rate the brand low and will not
recommend. They are the unsatisfied customers of the brands. The aim of the brand should be
turning the passives into satisfied customer.