Summer Internship Report
On
CUSTOMER RELATIONSHIP MANAGEMENT
(Task – 1)
Submited by,
Name: Gaurav Yadav
KJ Code: WFHE136736
Domain: Marketing
College: Welingkar Institute Of Management Development & Research,
Bangalore
1. What is CRM?
Customer Relationship Management (CRM) is a strategic approach that integrates
processes, technology, and all business activities to manage customer interactions
and data throughout the customer lifecycle. CRM aims to enhance customer
satisfaction, loyalty, and retention by providing a comprehensive view of customer
interactions, preferences, and behaviors.
2. Significance of Customer Lifecycle
The customer lifecycle consists of three main stages: customer acquisition, customer
retention, and customer development.

Customer Acquisition: This stage involves attracting new customers to the
business through marketing efforts, sales activities, and promotional offers.
The goal is to convert prospects into paying customers.

Customer Retention: Once customers are acquired, retaining them becomes
crucial. This stage focuses on providing excellent customer service, engaging
customers, and building long-term relationships. Retention strategies include
loyalty programs, personalized communication, and continuous value delivery.

Customer Development: This stage aims to increase the value derived from
existing customers through upselling, cross-selling, and enhancing customer
engagement. By understanding customer needs and preferences, businesses
can tailor their offerings and interactions to encourage higher spending and
brand advocacy.
3. Customer Lifetime Value (CLV)
Customer Lifetime Value (CLV) is the total revenue a business can expect from a
customer over the entire duration of their relationship. It is a crucial metric for
understanding the long-term value of customers and guiding marketing and
retention strategies. Generally, CLV increases as customers move through the
lifecycle stages, with the highest value derived from long-term, loyal customers.
Strategies used by Outlook Magazine to maintain its
customer lifecycle:
i).Customer Acquisition Strategy- To acquire customers, The
Outlook had come up with offers of giving 1 Duffle Strolley by
spending Rs. 8549 and above and 1 travelling bag by spending Rs.
5899 and above on taking subscription of magazines.
ii).Customer Retention Strategy- To retain customers, Outlook
provides different extended subscription plans for their respective 5
magazines ie Spend Rs.8549/- & above : Get an extended
subscription for 12 MONTHS, Spend between Rs.5899/- to
Rs.8548/- : Get an extended subscription for 6 MONTHS, Spend
between Rs.4599/- to Rs. 5898/- : Get an extended subscription for
6 MONTHS, Spend between Rs.2299/- to Rs.4598/- : Get an
extended subscription for 3 MONTHS. Outlook even provides
various 1
subscription plans to retain its customers for 1, 2, 3, 5 years at a
discounted price which helps the customers to stick to this
magazine.
iii).Customer Development Strategy- For converting potential
customers intoactual customers, Outlook sells its magazines at
heavily discounted price which attracts the customers towards
buying of Outlook magazine.
Outlook even offers various cash discounts for different ranges of
subscription value, which helps it to develop customers.
Strategies used by The Week Magazine to maintain its
customer lifecycle:
i).Customer Acquisition Strategy-To acquire customers, The Week
had come up with offers of giving gifts like Amazon E-Gift Card
Worth 500, United Colors Of Benetton Leather Wallet and Card
Holder, The Week Travel Bag, Amazon E-Gift Card Worth 1000,
Wildcraft Bagpack etc for different subscription plans on yearly
basis.
ii).Customer Retention Strategy- To retain customers, The
Week provides different subscription plans for their respective
magazines for 1 and 3 years at discounted prices, and along with it, it
gives a lot of gifts. It helps the customers to stick to the magazine. It
even provides renewal plans as well.
iii).Customer Development Strategy- For converting potential
customers into actual customers, The Week sells its magazine at
heavily discounted price which attracts the customers towards
buying of The Week magazine. For different subscription plans ie of
1 and 3 years, The Week provides 58% off, 56% off on cover price of
magazine provided by it.
Strategies used by Forbes India Magazine to maintain its
customer lifecycle:
i).Customer Acquisition Strategy- To acquire customers, The
Forbes had come up with giving access to Forbes India Events,
exclusive access to Forbes India Editor’s picks. Even, Forbes India is
one of the best seller books worth upto Rs.2000. All this helps
Forbes India to acquire customers towards it.
ii).Customer Retention Strategy- To retain customers, Forbes
India provides different subscription plans for their respective
magazines for 1,2 and 3 years at discounted prices. Forbes India
provides both digital and print magazine for 3 years subscription at
discounted price of Rs.6434, its cover price is Rs.
26,805, providing 76% discount. This helps the customers to stick to
the magazine.
iii).Customer Development Strategy- For converting potential
customers into actual customers, Forbes India sells its magazine at
heavily discounted price which attracts the customers towards
buying of Forbes India. Like for giving print subscription of 1, 2, 3
years, The Forbes India provides heavy discounts of ranging from
60% to 75% depending on the subscription plan taken and for giving
digital subscription of 1, 2, 3 years, The Forbes India provides heavy
discounts of ranging from 40% to 60% depending on the
subscription plan taken.
4. Net Promoter Score (NPS)
Net Promoter Score (NPS) is a metric used to measure customer loyalty and
satisfaction. It is calculated based on responses to a single question: "On a scale of 0
to 10, how likely are you to recommend our product/service to a friend or
colleague?" Respondents are classified into three categories:



Promoters (score 9-10): Loyal enthusiasts who are likely to recommend the
company and drive growth.
Passives (score 7-8): Satisfied but unenthusiastic customers who are
vulnerable to competitive offerings.
Detractors (score 0-6): Unhappy customers who can damage the brand
through negative word-of-mouth.
5. Who are Promoters, Detractors, and Passives?



Promoters: Customers who give a score of 9 or 10. They are loyal and likely
to recommend the company to others.
Passives: Customers who give a score of 7 or 8. They are satisfied but not
enthusiastic and could switch to competitors.
Detractors: Customers who give a score of 0 to 6. They are unhappy and may
discourage others from using the product or service.
Competitor Analysis: Subscription Promotional Offers
1. India Today
Subscription Offers:



Discounted Annual Subscriptions: India Today often offers significant discounts on
annual subscriptions, sometimes up to 50% off the cover price.
Bundled Offers: Subscribers can get bundled offers, including additional magazines
or access to digital content.
Free Gifts: Periodic offers include free gifts such as books, gadgets, or vouchers.

Early Bird Offers: Special discounts for early renewals or new subscribers during
festive seasons.
Customer Life Cycle Strategy:




Acquisition: Attracts new subscribers with heavy discounts and free gifts.
Engagement: Provides bundled content and exclusive digital access to keep
subscribers engaged.
Retention: Offers renewal discounts and loyalty programs for long-term subscribers.
Loyalty: Rewards loyal subscribers with exclusive content and early access to new
issues.
2. The Week
Subscription Offers:




Introductory Discounts: Substantial discounts for new subscribers, typically ranging
from 20-40%.
Trial Subscriptions: Short-term trial subscriptions at a very low cost or sometimes
free.
Digital Access: Free or discounted digital access with print subscriptions.
Combo Offers: Combination of magazine subscriptions with other publications or
services.
Customer Life Cycle Strategy:




Acquisition: Uses introductory and trial offers to attract new readers.
Engagement: Engages subscribers with digital content and combo offers.
Retention: Discounts on renewals and personalized communication to retain
subscribers.
Loyalty: Regular updates and special content for loyal subscribers.
3. Business Today
Subscription Offers:




Business Kits: Offers business kits including reports and tools along with the
magazine subscription.
Corporate Subscriptions: Special rates for corporate bulk subscriptions.
Annual Savings: Significant savings on long-term subscriptions (1-year, 2-year
plans).
Exclusive Content: Access to premium articles and reports for subscribers.
Customer Life Cycle Strategy:




Acquisition: Attracts business professionals with exclusive kits and reports.
Engagement: Provides high-value content and tools to keep readers engaged.
Retention: Offers renewal discounts and continuous access to exclusive content.
Loyalty: Creates a strong professional network and community among subscribers.
4. Forbes India
Subscription Offers:




Special Editions: Free access to special editions and reports with subscriptions.
Event Invitations: Invitations to exclusive events and webinars for subscribers.
Digital Plus Print: Offers combined digital and print subscriptions at discounted
rates.
Student Discounts: Special discounted rates for students and educational
institutions.
Customer Life Cycle Strategy:




Acquisition: Uses special editions and event invitations to attract new subscribers.
Engagement: Engages readers with high-profile events and in-depth reports.
Retention: Provides renewal incentives and continuous value through exclusive
content.
Loyalty: Builds loyalty through professional events and networking opportunities.
5. Fortune India
Subscription Offers:




Annual and Biennial Plans: Offers significant discounts on annual and biennial
subscriptions.
Corporate Access: Special pricing and access for corporate subscribers.
Complementary Issues: Free additional issues or extended subscription periods.
Digital-Only Plans: Affordable digital-only subscription plans.
Customer Life Cycle Strategy:




Acquisition: Attracts subscribers with significant discounts and complementary
issues.
Engagement: Engages readers with in-depth business analysis and reports.
Retention: Offers renewal discounts and ensures continuous high-quality content.
Loyalty: Creates a community through corporate access and exclusive content.
Summary
Outlook Group Magazine can leverage insights from these competitors by:

Offering substantial introductory discounts and bundled offers.

Providing access to digital content alongside print subscriptions.

Implementing trial subscriptions to attract new readers.

Engaging subscribers through exclusive content, events, and professional networking
opportunities.

Retaining subscribers with renewal incentives and loyalty programs.
By understanding and adopting successful strategies from competitors, Outlook
Group Magazine can optimize its subscription promotional offers and enhance the
overall customer life cycle management.
Compare the NPS for each of the company and find the
reasons behind the score. What do you recommend these
companies and how can they improve their scores?
Ans: A Net Promoter Score, or NPS, is a marketing tool used to
measure people’s loyalty towards a company or a brand and their
willingness to recommend the company’s or brand’s products to
other people so as to build and strengthen relationship with
customers.
To calculate NPS, I circulated these below stated three
questionnaires in my network and got it filled by 30 respondents so
as to conduct NPS survey.
Questionnaire for NPS survey of Outlook magazine
Q1. Are you familiar with The outlook India magazine?
• Strongly Agree
• Agree
• Disagree
• Strongly Disagree
Q2. Gender preference for outlook magazine
• Male
• Female
Q3. Do you have internet connection?
• Yes
• No
Q4. If you read the Outlook magazine, in which form do you prefer
it?
• Only Print
• Only Digital
• Both
Q5. Do you follow Outlook on any one the social media platforms?
• Facebook
• Twitter
• LinkedIn
• Others
Q6. Your perception about Outlook magazine?
• Very good
• Good
• Fair
• Not good
Q7. Would you like to buy the e-magazine because
• Timely delivered
• Easy access
• No storage issue
Q8. How well does our magazine meet your needs?
• Badly
• Fine
• Well
• Very Well
Q9. How would you rate the value for the money of our magazine?
• Bad
• Average
• Good
Q10. How responsive have we been to your queries or concern about
our magazine?
• Very responsive
• Usually responsive
• Not responsive
Q11. Compare to our competitors, is our magazine quality better,
worse or the same?
• Better
• The same
• Worse
Q12. How likely are you to recommend our magazine to your friend
or colleague of yours?
• Strongly recommend
• Not recommend
• Somewhat recommend
Questionnaire for NPS survey of The Week magazine
Q1. Are you familiar with The Week magazine?
• Strongly Agree
• Agree
• Disagree
• Strongly Disagree
Q2. Gender preference for The Week magazine
• Male
• Female
Q3. Do you have internet connection?
• Yes
• No
Q4. If you read the Week magazine, in which form do you prefer it?
• Only Print
• Only Digital
• Both
Q5. Do you follow The Week on any one the social media platforms?
• Facebook
• Twitter
• LinkedIn
• Others
Q6. Your perception about The Week magazine?
• Very good
• Good
• Fair
• Not good
Q7. Would you like to buy the e-magazine because
• Timely delivered
• Easy access
• No storage issue
Q8. How well does our magazine meet your needs?
• Badly
• Fine
• Well
• Very Well
Q9. How would you rate the value for the money of our magazine?
• Bad
• Average
• Good
Q10. How responsive have we been to your queries or concern about
our magazine?
• Very responsive
• Usually responsive
• Not responsive
Q11. Compare to our competitors, is our magazine quality better,
worse or the same?
• Better
• The same
• Worse
Q12. How likely are you to recommend our magazine to your friend
or colleague of yours?
• Strongly recommend
• Not recommend
• Somewhat recommend
Questionnaire for NPS survey of Forbes India magazine
Q1. Are you familiar with Forbes India magazine?
• Strongly Agree
• Agree
• Disagree
• Strongly Disagree
Q2. Gender preference for Forbes India magazine
• Male
• Female
Q3. Do you have internet connection?
• Yes
• No
Q4. If you read the Forbes India magazine, in which form do you
prefer it?
• Only Print
• Only Digital
• Both
Q5. Do you follow Forbes India on any one the social media
platforms?
• Facebook
• Twitter
• LinkedIn
• Others
Q6. Your perception about Forbes India magazine?
• Very good
• Good
• Fair
• Not good
Q7. Would you like to buy the e-magazine because
• Timely delivered
• Easy access
• No storage issue
Q8. How well does our magazine meet your needs?
• Badly
• Fine
• Well
• Very Well
Q9. How would you rate the value for the money of our magazine?
• Bad
• Average
• Good
Q10. How responsive have we been to your queries or concern about
our magazine?
• Very responsive
• Usually responsive
• Not responsive
Q11. Compare to our competitors, is our magazine quality better,
worse or the same?
• Better
• The same
• Worse
Q12. How likely are you to recommend our magazine to your friend
or colleague of yours?
• Strongly recommend
• Not recommend
• Somewhat recommend
Calculation of Net Promoter Score-
To calculate NPS, you need to count the number of Promoters, the
number of Detractors and the amount of customers who
participated in your survey. The customers who turned out to be
Passives are not taken into account when calculating the Net
Promoter Score.
The scoring of the NPS scale lays between 0 and 10:: 0 — not likely
at all, 10
- extremely likely, or else it will be a normal rating scale. GROUP
SCORE CHARACTERISTICS
Promoters 9–10 These are your most loyal customers, ready to
promote your products and help other customers to implement and
use your products more effectively.
Passives 7–8 These customers are loyal, but not enthusiastic about
your products. Working with this group is especially important when
the number of people in the group is relatively high.
Detractors 0–6 These people are unlikely to promote your product
and are very likely to give it a negative review. They are very often
unsatisfied customers and are very sensitive to competitive offers.
The NPS calculation formula is:
Net Promoter Score (NPS) = % of Promoters — % of Detractors
Calculating NPS score for Outlook magazine:-
Promoters: 21 people gave scores of 9 and 10. The % of Promoters =
21⁄30*100% = 70% Passives: 0%
Detractors: 9 people gave a score between 0 and 6. The % of
Detractors = 9⁄30*100% = 30%
Net Promoter Score (NPS) = 70% — 30%= +40 Calculating NPS
score for The Week magazine:- Promoters: 15 people gave scores of
9 and 10.
The % of Promoters = 15⁄30*100% = 50% Passives: 3 people gave
scores of 7 and 8. The % of Passives = 3⁄30*100% = 10%
Detractors: 12 people gave a score between 0 and 6. The % of
Detractors = 12⁄30*100% = 40%
Net Promoter Score (NPS) = 50% — 40%= +10 Calculating NPS
score for Forbes India magazine:- Promoters: 18 people gave scores
of 9 and 10.
The % of Promoters = 18⁄30*100% = 60% Passives: 3 people gave
scores of 7 and 8. The % of Passives = 3⁄30*100% = 10%
Detractors: 9 people gave a score between 0 and 6. The % of
Detractors = 9⁄30*100% = 30%
Net Promoter Score (NPS) = 70% — 40%= +30
NPS global standards treat +50 as ‘excellent’ and +70 as ‘world
class.’ Any NPS that is above 0 is considered to be ‘good,’ as this
means that the number of loyal customers is higher than the number
of disloyal customers.
Reasons behind the score:
Outlook magazineThe NPS score of Outlook magazine is +40 i.e. above 0 which
indicates that the number of loyal customers is higher than the
number of disloyal customers. As +50 is considered excellent, so
+40 score clearly states that the client perception and brand loyalty
is good of Outlook. Even, the customers encourage others in their
network to take its subscription leading to increase in Outlook’s
business.
The Week magazineThe NPS score of The Week magazine is +10 i.e. above 0 which
indicates that the number of loyal customers is higher than the
number of disloyal customers, but still this score needs a lot of
improvement because when compared to its competitors, The Week
magazine has the least score. The reason for this score when
surveyed was that sometimes, gifts to be given with magazine gets
out of stock and this leads to dropping of subscription by the target
market. Even, the customers are not satisfied with the service
provided as the magazine doesn’t reach out to them on time.
Forbes IndiaThe NPS score of Forbes India is +30 i.e. above 0 which indicates
that the number of loyal customers is higher than the number of
disloyal customers, but still this score needs a lot of improvement
when compared with its competitors. The reason for this score when
surveyed, was observed that around 10 customers faced difficulty in
renewing the subscription of Forbes India magazine ie the renewal
took lot of time than stated by them. Even sometimes, the magazine
doesn’t reach the customers on time which further leads to
dissatisfaction amongst the customers.
Recommendations for these companies as to how can they improve
the NPS scoreFor Outlook magazine• Once a customer takes a subscription plan of Outlook magazine, it
takes around 6–8 weeks for Outlook for processing the payment
made by
customer and then the hard copy starts off to get delivered to them.
So, Outlook should focus on reducing this gap of so many weeks and
try to deliver the magazines as soon as the subscription has been
taken by a customer.
• The Sales executive should call customers in slots on daily basis
and
take their feedback and then work on the suggestions or the
difficulty their customers are facing as quickly as possible.
For The Week magazine• The company should have marketing department of the Week
magazine in towns for the benefit of the subscribers as well for the
company. This would lead to awareness amongst people.
• The most important suggestion is that company should give
priority to
coverage by covering towns, cities, rural areas. It would then create
more magazines readers and this would further lead to increase in
the market share.
• It should focus on keeping the stock of gifts to be given along with
magazine when a customer takes subscription of magazine.
• It should concentrate on building strong relation between
customer and customer relationship manager which would lead to
building of brand loyalty and further increasing customer
satisfaction.
• It should deliver the magazines on time to the customers.
For Forbes India-
• It should not delay the process of renewing the subscription of the
magazines when the customers demand for it.
• It should deliver the magazines on time to the customers.
• It should give gift vouchers along with the subscription of
magazine so as to increase brand loyalty
. Comparing subscription promotional offers of Indian Print Media
Companies with their International counterparts.
Indian Print Media Companies
1. India Today
Subscription Offers:




Discounted Annual Subscriptions: Offers up to 50% off on annual subscriptions.
Bundled Offers: Includes additional magazines or access to digital content.
Free Gifts: Periodic offers of free gifts such as books or gadgets.
Early Bird Offers: Special discounts for early renewals.
2. The Week
Subscription Offers:

Introductory Discounts: Significant discounts for new subscribers.
 Trial Subscriptions: Low-cost or free short-term trials.
 Digital Access: Free or discounted digital access.
 Combo Offers: Subscription combinations with other publications or services.
3. Business Today
Subscription Offers:

Business Kits: Includes business reports and tools with subscriptions.
 Corporate Subscriptions: Special rates for bulk corporate subscriptions.
 Annual Savings: Discounts on long-term subscriptions.
 Exclusive Content: Access to premium articles and reports.
4. Forbes India
Subscription Offers:

Special Editions: Free access to special editions and reports.
 Event Invitations: Invitations to exclusive events and webinars.
 Digital Plus Print: Combined digital and print subscriptions at discounted rates.
 Student Discounts: Special rates for students.
5. Fortune India
Subscription Offers:




Annual and Biennial Plans: Discounts on longer-term subscriptions.
Corporate Access: Special pricing for corporate subscribers.
Complementary Issues: Free additional issues or extended subscription periods.
Digital-Only Plans: Affordable digital-only subscriptions.
International Print Media Companies
1. The New York Times (USA)
Subscription Offers:

Introductory Rates: Low introductory rates for the first few months.
Student Discounts: Substantial discounts for students.
 Bundle Offers: Includes access to other Times products (e.g., Cooking, Crosswords).
 Digital Access: Comprehensive digital-only plans.
 Family Plans: Discounts on subscriptions for multiple users in the same household.
2. The Economist (UK)
Subscription Offers:


Trial Offers: Low-cost or free trial periods.
 Student Discounts: Special rates for students.
 Combination Packages: Print and digital bundles.
 Gift Subscriptions: Options to gift subscriptions with discounts.
 Event Access: Invitations to exclusive events and webinars.
3. The Guardian (UK)
Subscription Offers:

Membership Tiers: Different levels of membership with varying benefits.
 Digital Subscriptions: Discounted rates for digital-only access.
 Bundled Content: Access to premium content and ad-free experience.
 Supporter Perks: Exclusive content and event invitations for higher-tier subscribers.
4. National Geographic (USA)
Subscription Offers:



Annual Discounts: Discounts on annual and multi-year subscriptions.
Digital Access: Complimentary digital access with print subscriptions.
Free Gifts: Offers free maps, calendars, or tote bags with subscriptions.

Family and Gift Subscriptions: Discounts on subscriptions for families and gift
options.
5. TIME Magazine (USA)
Subscription Offers:




Introductory Rates: Heavily discounted introductory offers.
Combo Offers: Print and digital access bundles.
Event Invitations: Access to TIME events and special content.
Renewal Discounts: Discounts for renewing subscriptions.
Comparative Analysis
Similarities
1. Discounted Rates: Both Indian and international media companies offer significant
discounts on introductory and annual subscriptions to attract new subscribers.
2. Bundled Offers: Combination of print and digital access is common, providing value
through multiple formats.
3. Free Gifts: Periodic free gifts or additional content is a popular strategy to enhance
the attractiveness of subscription offers.
4. Event Invitations: Invitations to exclusive events and webinars are used to engage
and reward subscribers.
Differences
1. Membership Tiers: International companies like The Guardian offer structured
membership tiers with varying benefits, while Indian counterparts typically offer
more straightforward subscription plans.
2. Family and Group Plans: International media often provide family plans or group
subscriptions with discounts, which are less common among Indian print media.
3. Specialized Content Access: Companies like The New York Times bundle
subscriptions with access to specialized products (e.g., cooking, crosswords),
whereas Indian companies focus more on magazine bundles or additional
publications.
4. Trial Periods: Free or low-cost trial periods are more prevalent among international
print media, providing an easy entry point for new readers.
Recommendations for Outlook Group Magazine




Introduce Membership Tiers: Offering different levels of subscription with varying
perks can cater to a broader audience.
Expand Family and Group Plans: Provide discounts for family or group subscriptions
to attract multiple users within the same household or organization.
Develop Specialized Content Bundles: Create bundles that include niche content or
access to unique digital products.
Offer Trial Periods: Implement low-cost or free trial subscriptions to attract potential
long-term subscribers.

Enhance Digital Offerings: Continue to enhance digital access and combine it
effectively with print subscriptions for comprehensive value.