FINAL REPORT (221117) Raghu
FINAL REPORT (221117) Raghu
A Project Report on
Submitted in Partial Fulfilment of the Requirements for the Summer Internship Program
Dr D.Ravinath
Submitted by
Batch No. 30
Bachupally, Hyderabad.
2023
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DECLARATION
undertaken by me and it is not submitted to any other Institution or university for the award
of any degree/diploma certificate or published any time before.
Date:
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CERTIFICATE
Name:
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EXECUTIVE SUMMARY
The Summer Internship Program at THE OUTLOOK GROUP was about Sales and
Marketing of the company’s products. I Raghu Sandra-22117, PGPM 2022-24,
VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, Hyderabad, worked on a project
with the company for 8 weeks. Outlook is a general-interest English and Hindi news
magazine; it is a leading name print media industry. Owned by the Rajan Raheja Group, the
first copy of the magazine was issued in October 1995. The Outlook Group’s headquarters is
located at Safdarjung Enclave, New Delhi. The title of the report is “CUSTOMER
RELATIONSHIP ON OUTLOOK MAGAZINES”. The goal is to leverage promotional
activities and digital marketing to locate, attract, and win new customers while nurturing and
keeping existing ones. By giving clients a diverse portfolio and learning about their
purchasing habits, perspective magazine may expand its audience. An first duty for the
project is in sales and marketing. It involves analysing consumer behaviour, interacting with
customers, and earning money by selling subscriptions. The next step is data analysis to
comprehend consumer purchasing patterns. A survey approach employing a questionnaire as
a tool was utilized to analyse consumer purchasing behaviour toward Outlook Group's
magazine. Primary and secondary data were employed. Readers of magazines, potential
customers, and suspicions are among the respondents Different sources, including various
websites and journals, were explored for secondary data. According to research, magazines
provide readers with quality entertainment, current information, and knowledge. The demand
from subscribers for service enhancement is significant. Subscription-based business models
draw more clients. Although people are quite interested in publications, many are unaware of
the deals and promotions. The group is advised to concentrate their efforts primarily on
enhancing the distribution network and the quality of their services. A better approach for
reminding customers to renew their subscriptions.
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ACKNOWLEDGEMENT
I want to share my heartfelt gratitude and sincere appreciation to my company mentor, Ms.
Dinakar, Regional Manager of Outlook Group, who recommended and created the project
framework. He constantly encouraged me to study and gain knowledge and assisted me at all
phases of the project by devoting her significant time and effort.
TABLE OF CONTENT
2 PMCI Analysis 8
3 SWOT Analysis 15
Research Methodology
Limitations
9 Findings 30
10 Conclusion 31
11 Bibliography 32
12 Annexure 34
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INTRODUCTION
Outlook Group is in the Print Media Industry, and it offers various products and services to
customers who are seeking reliable news. Products include physical copies of the magazines,
and the services are digital magazines that might be purchased either one time or subscription
based.
It's vital to have a general awareness of the economics and market of the news publishing
industry before diving into the study's focus, which is on how customers perceive and behave
toward digital magazines. The magazine is one of the actors involved in the news publishing
sector, which Leurdijk, Nieuwenhuis, and Slot (2012) claim is one of the subsectors of the
media and content industries. So, for the sake of relevancy and simplicity, I'll merely offer a
quick summary of the news publishing sector and focus more on magazine publishing.
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PMCI ANALYSIS
Using PMCI analysis, businesses can gain insights into how their product fits into the market,
how their company competes with others in the industry, and how external factors influence
their overall business strategy. This analysis can help in making informed decisions about
product development, marketing strategies, market entry, competitive positioning, and overall
business growth.
PRODUCT ANALYSIS
Outlook Weekly: The most fascinating weekly magazine in India, Outlook, covers a wide
range of topics, including current events, business, sports, lifestyle, technology, and foreign
affairs. Outlook provides you with a comprehensive image, intelligent analysis, and a new
point of view that sparked a stagnant industry reeling from the effects of satellite TV. Outlook
soon established a strong following among sophisticated readers who appreciate its in-depth,
investigative reporting and its stylish, graphic appearance. Known for being absolutely
independent. Today, Outlook sells more than 11.2 million copies worldwide and is the
magazine of choice for 1.5 million people in India.
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Outlook Hindi: A weekly news magazine called Outlook Hindi was introduced in October
2002 in an effort to gain a considerable following among the large Hindi-reading community.
The product is designed with the sophisticated Hindi reader's interests, reality, and goals in
mind. With objective, ferociously unbiased, and audacious journalism, Outlook Saptahik
upholds the essential characteristics of Outlook while displaying its own individuality
through a powerful alternative editorial. The magazine understands its readership and is not a
translation of its English version.
Outlook Traveller: India's top travel publication is Outlook Traveller. This is a monthly
publication that discusses domestic and foreign travel, vacations, cuisines, and holiday
preparation. Since June 2001, Outlook Traveller has been introducing readers to the marvels
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of exotic locations while also inspiring travellers to view well-known locations in new ways.
Outlook Traveller keeps bringing people together, regardless matter whether they are really
booking a trip or are just daydreaming about one.
Outlook Business: Another publication from Outlook that features business news, billionaire
interviews, and newly available positions. Business schools, business experts, businessmen,
etc. enjoy this publication the most. Outlook publishes a fortnightly magazine. Outlook
Business, in the best traditions of the Outlook group, has as its primary goal a thorough
rewriting of business journalism as it has been practiced in the magazine area.
Outlook Money: India's first personal finance magazine, "Intelligent Investor" was launched
by the group in July 1998. As of November 30, 2002, it has been renamed "Outlook Money"
and continues to offer sound investing advice for laypeople, particularly the expanding
segment of salaried middle- and upper-class and self-employed professionals. 'Invest
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properly, borrow wisely, spend carefully' is its basic and straightforward message. That
message must have resonated because within a year, the magazine sold more than 100,000
copies every two weeks.
MARKET ANALYSIS
Market analysis is the act of analysing data to learn more about a certain market. It entails
evaluating elements including market size, trends, segmentation, rival analysis, customer
preferences, legal framework, and external economic effects. Businesses may create efficient
marketing plans, introduce new goods, and decide on investments by comprehending these
factors. Market analysis assists businesses in keeping up with industry developments and
spotting new possibilities and difficulties. It is essential to company planning and decision-
making since it directs businesses to match their products with customer needs and increase
their chances of success.
COMPANY ANALYSIS
Outlook Group is known for publishing unbiased, reliable, and credible news. It is one of the
big players in the Magazines space.
Owner and founder of The Outlook Group is Mr. Rajan Raheja. The Outlook Group, one of
India's magazine publishing organizations, was founded in October 1995. A group firm called
Hathaway Investments Private Limited launched a weekly news magazine in the print media
sector under the leadership of Lt. Vinod Mehta. Outlook is a well-known brand and
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appreciated in India as well as all over the world. It is one of the well-established brands in
India with its head office located in New Delhi and branches at various cities like Kolkata,
Bangalore, Gurgaon, Chennai, and Hyderabad. When the inaugural edition of the publication
went to print, Mr. Vinod Mehta served as editor in chief. Weekly news magazine Outlook
sparked a lethargic industry that was already reeling from the influence of satellite TV.
Readers who comprehend the worth should position themselves in depth because of the
viewpoint. It is an insightful, thought-provoking, and captivating magazine that offers an up
to current viewpoint and a comprehensive approach. It offers up-to-date information about
Indian politics, cricket, sports, movies, and business news. Outlook has a dependable
leadership, is socially conscious, and stimulates thought with intriguing material,
investigative reporting, and its improved visual appearance. It links to 1.2 million important
customers, who are pioneers in innovation and power successful advertising. Around 2
million readers in India currently choose Outlook, which sells more than 12 million copies
annually. The Outlook publishing company owns six publications. Five of those periodicals
are in English, while one is in Hindi. Due to changes in the business climate for the print
media sector, the firm intends to concentrate more on the magazine's digital components.
mission
To deliver superior value to our customers, shareholders, employees, and society at large.
vision
To be a premium global conglomerate with a clear focus on the business.
competition:
The competition is high in the print media industry, especially for magazines which Outlook
group manages. Competition for Outlook is either segment based or direct. Some of the
notable competitors are:
• India Today
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• Discovery India
• Business Standard
• Forbes
• The Week
• Business Today
INDUSTRY ANALYSIS
Anyone can see that the print media has one of the biggest impacts on how a nation runs. One
of the most trustworthy sources of local, national, and international news is certainly the
numerous people who produce newspapers, periodicals, books, etc. India's large print media
is made up of the tens of thousands of magazines and newspapers that are published there.
Print media still has a great deal of success even currently of television and the internet
because of its good journalism, excellent reporting, press unity, and tremendously powerful
network. Furthermore, it is said that print media encouraged literacy.
Since the introduction of digitization and the Internet, news consumption and information
seeking have undergone significant change. For information about events in their area and
throughout the world a few decades ago, people relied on newspapers that were delivered to
their homes or bought at newsstands. Additionally, they anticipated certain periods when the
news would be broadcast on television. Today, a range of media products are available for on-
demand consumption, enabling customers to access the Internet on a number of different
electronic devices and read the news whenever and wherever they choose.
The subsidized side of the two-sided market that controls the news publication industry has
historically been readers. The majority of the revenue comes from advertising. However, a
drop in advertising and distribution income has occurred as a result of the digitization of an
increasing number of media channels, giving marketers access to a wider range of
possibilities (IFRA, 2006). As a result, the expense of advertising is spreading out more and
more.
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SWOT ANALYSIS
SWOT analysis is a strategic planning tool used by individuals, businesses, organizations,
and institutions to assess their internal strengths and weaknesses and external opportunities
and threats.
SWOT analysis of Outlook Group:
Strength:
1) Five distinct periodicals that cater to the demands of various age groups and industries
and cover every market segment are available.
2) Unique pictures and writing Outlook don’t just copy and paste web information into
its publications.
3) Outlook has well organized and experienced manpower, which approach directly and
indirectly as well, to the readers.
4) Outlook has set up its own strong distribution channel, which circulate 1.5 million
copies in India.
Weakness:
1) It takes four weeks to send the subscriber's initial copy, and two weeks in cases when
the address has changed.
2) Lack of a strong web presence.
Opportunities:
1) By introducing three new publications, one each about the car sector, beauty
parlor technology, and Outlook technology.
2) Outlook may expand its product offering and grow its market share. Outlook has
the chance to market its magazine on a global scale with an international version.
3) It can put more of an emphasis on digital publications to draw in young customers
who often read more online than in print.
Threats:
1) Intense competition - Several foreign businesses are expanding their product lines
and entering India to compete for market share.
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2) Due to the quick expansion of information sources and ease of accessibility, readers
no longer rely solely on a small number of sources when there are alternative options
available.
Michael E. Porter, a noted economist and professor at Harvard Business School, created
the "Porter's Five Forces" paradigm. This framework is used to evaluate an industry or
market's attractiveness and competitive dynamics. It aids in locating the market dynamics
that determine an industry's structure and profitability.
Porter's Five Forces is a valuable tool for business leaders and strategists to assess the
competitive landscape and make informed decisions about market entry, pricing
strategies, and overall industry attractiveness. It is commonly used in strategic
management and helps companies understand their position in the market and develop
effective business strategies. The Five Strategies with respect to Outlook Group are:
1. Threat of New Entrants: The print media industry especially magazine space is
very competitive and very hard to enter. The possibility of a threat from a new
entrant is low. The distribution system is in place for a lot of the existing
companies and trying to better others and penetrating the market is hard in the
physical copy side of thing but for the digital side it can become even more
competitive with how easy it is to enter. By having a good strategy and
competitive price new entrant can post threat to Outlook Group.
2. Bargaining Power of Buyers: The prices are fixed and there is no room for
buyers to bargain the price. But customers can compare the prices of different
magazines and buy which suits their budget, people of India are very price
sensitive so it can be a difficult to put high prices and the margins in the print
media industry are very thin. Customers can directly bargain with distributor or
use promo codes or discount codes in case of a digital magazine.
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4. Threat of Substitutes: The threat of substitute is very high for Print media
industry, so availability of the product and being consistent is important. The
magazines market is very competitive and there is very small distinction between
different companies. The company should stand out by adding value in every
small aspect of the product.
The literature study that was conducted looks first at the theory of uses and gratifications,
which seeks to characterize users' goals and purposes of the choosing of a given sort of
media, with the main focus of this thesis project on consumer perspective of digital
magazines. Following that, past research on the business models for digital content goods,
customer behavior and attitudes, and their intent to pay will be examined.
Internet use and satisfaction are largely discussed in recent research on new media (Flavián &
Gurrea, 2009; Stafford, Stafford, & Schkade, 2004). Users may now access practically all
types of media on the Internet because to the digitization and convergence of media. In this
way, the usage of the Internet and digitalization are also related to this research regarding
consumers' perceptions of digital magazines. Therefore, it is crucial to have a quick overview
of the fundamental theory that serves as the basis for comprehending consumers' intentions
and attitudes toward utilizing a particular type of media.
Researchers have identified several gratifications derived from the use of the Internet
including information-seeking, pass time, interpersonal utility, convenience, entertainment,
modality, agency, interactivity, and navigability (Papacharissi & Rubin, 2000; Sundar &
Limperos, 2013). However, McLeod, Bybee and Durall (1982) theoretically and conceptually
distinguished two kinds of audience satisfaction as gratifications sought and gratifications
obtained, which should be studied individually in future research (cited in Ruggiero, 2009).
For instance, users seek entertainment when Information seeking, leisure, interpersonal value,
convenience, entertainment, modality, agency, interaction, and navigability have all been
cited as benefits of using the Internet by researchers (Papacharissi & Rubin, 2000; Sundar &
Limperos, 2013). However, gratifications sought and gratifications gained were theoretically
and conceptually differentiated as two different types of audience pleasure by McLeod,
Bybee, and Durall (1982), which should be researched separately in future study (quoted in
Ruggiero, 2009). Internet users, for instance, utilize it to find amusement, but the extent to
which this entertainment and the types of pleasure it might provide are still unclear or
underappreciated. Despite the fact that they utilize the Internet, many people are still
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unaware of or ignore the amusement and other types of pleasure that may be had from doing
so.
According to Rubin (2009), there are basically three different types of gratifications: content
gratifications, which come from media content; process gratifications, which come from
using the media; and social gratifications, which are related to using the media as a social
environment (Stafford, Stafford, & Schkade, 2004).
Gratifications are described as "need satisfactions" in Katz et al.'s (1974) work when
audiences see certain media and contents that meet their pre-held expectations (Cited in
Sundar & Limperos, 2013). Before digital magazines were invented, no one would have
imagined that they would love reading those on a computer, tablet, or mobile device. People
start to have wants and gratifications related to employing those technologies as soon as they
have this choice.
In a paper published in 2013, Sundar and Limperos addressed prospective gratifications based
on four types of affordances: modality, agency, interaction, and navigability. They also
suggested that technology may help create new gratifications. The phrase "affordances" was
initially used by Gibson (1977), and Norman (1999) later conceived it as "actionable
properties." (Source: Soegaard, 2003). In other words, a thing's affordances are any properties
that encourage human interaction or behavior. Each kind of affordance is briefly described in
the sections that follow. The term "modality" refers to the many media presentation types,
such as audio, video, text, photo, and graphic, and it provides consumers four sub-
gratifications: realism, coolness, novelty, and being there. Agency denotes users' capacity to
exchange information and/or serve as content creators. Agency enhancement, community
building, bandwagoning, filtering/tailoring, and ownness are examples of agency sub-
gratifications. interaction in the manner of Sundar and Limperos (2013) is, to use the phrase
used, "the affordance that allows the user to make real-time changes to the content in the
medium." Its sub-gratifications include action, responsiveness, freedom of choice, and
control, among others.
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It is plainly clear that consumers are consuming more and more digital products and
information—including music, books, newspapers, magazines, and other media—while using
less and fewer real things of the same type. There will likely be more digital magazines
available as a result of the increased frequency with which some publications are being
released in digital form. Digital magazines will account for 30% of the magazine industry in
2022 and 75% of the entire periodical market in 2032, according to a projection by Renard
(2007) from Media IDEAS that Silva (2011) quotes.
• During the first week, we studied several forms of sales and sales procedures. Core
sales were the initial responsibility, which required us to locate the consumer and sell
him magazines. To finish the assignment, we employed a variety of forms, including
relationships, sales pitches to potential clients, and social media. We discovered how
to adjust our sales pitches according to the target client. more about digital goods and
how challenging internet sales are.
• Customer Relationship Management was the second assignment. In this job, we learnt
about the technological side of business and how a company might be represented
online. You must comprehend customer behaviour. NPS analysis and a questionnaire
survey were conducted to see how the Outlook Standard compared to its rivals.
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• The next assignment was market research, which involved visiting several distribution
centers to learn more about the situation on the market today and the difficulties
that are being encountered. We analyzed many restrictions and difficulties the print
media sector is now dealing with.
• The fourth task consists of Marketing Analytics where we were give real-time data
sets and were trained to analyse, visualize and identify the problems with
recommendations.
• The sixth job was Digital Marketing, where we discovered many SEM and SEO
facets. We discovered the most effective ways to employ and improve the keywords to
draw in customers.
• The sixth task is B2B marketing where we learned different attributes of the B2B
interaction.
• To know the factors that are influencing customers to buy digital magazines.
Research Methodology
• Primary data – The primary information has been collected from people who are
aware of digital magazines and people from the company.
• Secondary data – The secondary information has been collected from the Journals,
Websites etc.
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Limitations
• The methods, devices, and procedures used to acquire the data might have made
minor mistakes.
General Questions:
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Interpretation: The above graph shows us the gender of respondents, with males being the
major respondents with 62.7% and females being the remaining 37.3% in the above give pie
chart.
Interpretation: The above graph shows us the clear indication of age group of my research
respondent age, that indicates major people are of age group Below 25 i.e., 33.3%, the next
major age group is 25 to 35 with 27.5% and follows as above pie chart.
Interpretation: The above chart shows the Marital status of the respondents, majority of the
respondents are married with 56.9% and 41.2% people are unmarried.
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Interpretation: The pie chart shows that most of the respondents are Under Graduates with
45.1% and with 31.4% Post Graduates make up the next highest respondents. Respondents
with SSC education background is 13.7% and Intermediate background are 9.8%
respectively.
Interpretation: The above pie chart indicates the profession of my respondents, the majority
of them are salaried with 49% followed up by Unemployed with 29.4% and the rest being
Self Employed with 11.8% and retired with 9.8%.
Interpretation: From the above bar graph we can interpret that the majority of the
respondents buy magazines regularly with more people voting above 3 on the scale, 45.1%
positive response implies people buy magazines often.
Interpretation: The above bar graph helps us understand some of the reasons why a person
prefers to buy magazines, what motivates him to buy magazines. The responses show that
credible news and gathering of news are some of the most important reasons why a person
chooses to buy magazines. Credible news being 60.8% and Gathering Information being
64.7%.
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Interpretation: This question is asked to know how much time a customer spends his/her
time consuming the product or if at all they consume it. The bar graph shows that the majority
of the people spend good amount of time reading magazines with 43.1% of the people scoring
above 3 on the scale.
Interpretation: The above question asks how interactive and accessible the customer finds
the digital magazine interface. One of the biggest challenges for online publishing companies
face is the navigability of the page, not everyone can understand how to find certain news and
easily use the platform. The bar graph shows that most of the people 37.3% of people don’t
like the magazine interfaces.
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Interpretation: The above pie chart shows that the majority of the respondents still prefer the
regular physical magazine to digital copy with 58.8% to 41.2%. The gap between the two is
not very big and it is only becoming small as time passes.
Interpretation: This bar graph shows what makes or what motivates a person to buy digital
magazines, majority of the people say digital magazines being Environment Friendly being
their no.1 reason why they buy it, it has a massive 70.6% approval. The second reason being
Easily Accessible and the third being Ease of Use with 56.9% and 52.9% respectively.
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Interpretation: The above bar graph shows how satisfied the customers are with digital
magazines. The graph shows that majority of people are having neutral to negative feelings
towards digital magazines with
Interpretation: The above pie chart shows that the majority of the people more than 78.4%
of people think Covid played a major role in fastening the digitalization of magazines. Only a
small percent of people, 21.6% think Covid didn’t have any affect.
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Interpretation: The above graph shows what people think are some of the things a company
can do to improve the digital magazines or attract more customers. Reasonable prices with
60.8% is the major change people want publishing companies to make, the second one being
Covering News in More Areas with 58.8% and other are Better Designed and Optimized
Page Layouts with 51% and More Exclusive Content with 41.2%, Availability in All
Platforms 27.5%.
Interpretation: The above Pie chart shows that people even after using digital magazines
majority of them still prefer the Physical Magazine, 54.9% of them prefer Physical and
the remaining 45.1% of people prefer Digital Magazines.
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FINDINGS
Many of the old respondents i.e., people of age above 45 mainly prefer physical magazines while
the younger people prefer digital magazines more.
The research shows that older respondents find it hard navigating through the online platform
and think that it should be more user friendly and optimized.
One of the reasons for more people switching to digital magazines is Covid, since there
was no access to physical copies people started buying digital magazines which slowing
became a habit since it was so easy to access.
Even with digitalization of magazines people still prefer physical magazines over digital
magazines because of the tangible experience it gives.
It can be concluded that majority of the respondents have similar views and perception towards
digital magazines.
People think digital magazines are more ecofriendly, easy to access and are readily available
unlike the physical copy which takes a lot of time to get delivered.
The study also shows that people spend a good amount of time reading the magazine.
Especially the older people.
Even if the experience of the customer is not very good with digital magazines, they still
think it is the future and has a huge potential. Some of the things that people think a
publishing company can do to improve/attract more customers are Reasonable pricing,
exclusive content, news coverage in more areas, better designed and optimized page
layouts and availability across all platforms.
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Print magazines are read by readers who are interested in certain subjects, looking for
pleasure, leisure, and education. These motives are much the same as those of consumers
of digital magazines. However, these two categories of magazine consumers have
different consumption habits. Additionally, this study's findings indicate that the majority
of print readers would not switch to reading digital magazines in the future.
CONCLUSION
This research paper constitutes the results of the research done to better understand the
Customer Perceptions of Digital Magazines. The future of magazine publishing is digital
magazines. By transitioning to digital magazines, a publishing firm can survive if it
incorporates technology improvements and digitalization. More information, amusement,
habit, and low cost are the four primary reasons readers read digital magazines. The most
appealing qualities of digital magazines for readers are their interactivity, readability,
searchability, environmental friendliness, and dependability of delivery. Although most users
of digital magazines have not made a subscription payment, they do have a modestly
favorable opinion of them. Therefore, unless they are able to provide consumers with
information of higher quality than what they can access for free online, publishers should
continue to offer free content or content at a reduced price. Then, readers would have to pay
for the books they purchase. The level of reader satisfaction may be swiftly increased by
offering them values that live up to the medium's expectations. According to the report,
consumers need more premium content, inexpensive publications, and layouts and user
interfaces that are better planned and optimized..
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QUESTIONNAIRE
Gender
• Male
• Female
Age
• Below 25
• 25 to 35
• 35 to 45
• Above 45
Marital Status
• Married
• Unmarried
• Divorced
Education
• SSC
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• Intermediate
• Undergraduate
• Postgraduate
• Salaried
• Self Employed
• Unemployed
• Retired
• Visual Appeal
• Others: _________
8 How often do you spend time reading 1 2 3 4 5
magazines?
• Exclusive Content
• Others: _______
12 To what extent are you satisfied with digital 1 2 3 4 5
magazines?