A TRAINING REPORT ON Study on feasibility of marketing & overview on operation

AT

Submitted in partial fulfillment of the requirements for the award of the degree of M.B.A For the training under gone at

SUBMITTED TO:
Dr.

PRESENTED BY:

STUDENTS DECLARATION
I, AKANKSHA RAJ , hereby declare that I have completed the project, entitled Study ON

marketing strategies,opertions. AT learning accord pvt ltd, kolkata. under guidance of

. I am thankful to officals staff For making my training a learning experience At Learning accord pvt ltd, kolkata . This report is to be submitted in the partial fulfillment of MBA-5-Year Degree from Kurukshetra University. Further I declare that this is original work done by me and the information provided in the study is authentic to the best of my knowledge and belief. This study has not been submitted to any other institution or University for the award of any other degree or for any purpose.

Dated:

Acknowledgement

Knowledge is an experience gained in life, it is the choicest possession, which shouldnotbe shelved but should be happily shared with others.

First of all, Id like to thank the department, Institute of Management Studies, for giving us such a creative idea, of going through a training program and preparing a report on its basis, which will help us in developing our skill in corporate sector, beforehand..

I would like to express my sincere gratitude to my project guide and my training supervisors MR.pradeep kumar roy (Asssistant Branch Manager of learning accord pvt ltd , kolkata branch). For valuable inspiration and guidance provided me throughout the course of this project. I would like to take opportunity to express my gratitude towards him & to those who have contributed directly or indirectly in my project work. To make it an learning experience for me.

Objectives of study :

Objective of the Study

To finding out the problems facing by the Learning accord private ltd Leap. To create awareness of Learning accord private ltd among Customer. To raise the profit directly or indirectly. To make Learning accord private ltd well renowned in front of people. To provide right directions to the students.

 To increase penetration in the market. To see the problems and gap by which the product is not selling. To create Brand Building and Marketing activities for Learning accord private ltd.

Overview of Marketing

Introduction to Marketing

Marketing means communication of the product or services to influence people to become an ultimate buyer of the product. Actually marketing is every where. Formally or informally, people and organizations engage in vast number of activities that we could call marketing. Good marketing has become an increasingly vital ingredient for business success. And marketing profoundly affects our dayto-day lives. It is embedded in everything we do- from the clothes we wear to the websites we click on, to the ads we see.

Evolution of Marketing

At the beginning of the century, social life was mostly local. It was followed by a period in which commodities were produced on a mass scale. Consumer Marketing operated on mass marketing principles and business primarily concerned itself with how to build the best sales force. At the end of the century, there is an emerging global culture. The major driver of these changes is technology. Technological change has moved steadily back focusing on the individual. These changes shape the possibility and conduct of business. Marketing is especially tied to communication and transportation revolution. As the tools and reach of marketing increase, the job and responsibilities of marketers have evolved with them. Kotler formalized this evolution with his book "Marketing Management." His key stages are production, sales and brand management. Each of these is strongly motivated by technological opportunities, which permit new methods and new opportunities. A fourth stage, a focus on the individual customer, is also important. As the new technology of the Internet develops, it reinforces the new marketing emphasis which in many ways is a return to business at the turn of the century. In todays technology driven world, a new fast paced digital economy is emerging. In the near future, it wouldnt be surprising to see that there are companies that exist only inside computer networks. Most business transactions will be made electronically, directly from the producer to the consumer, bypassing the supply chain. In the digital marketing environment, the consumer becomes an integral player in the development of the product. In fact, a consumer might build the product himself from a wide array of parts provided by the company. It is e-commerce that is changing the way products

and services are conceived, manufactured, promoted, priced, distributed and sold. The reason being that it is much cheaper; it allows vast coverage and helps in serving the customer better.

Introduction to Online Marketing In a fast-paced life, everything has to be done in an instant. Everything costs more. Everything moves faster. The good thing is that we can have anything we want in just one click. We have the different technological advances right within our reach time efficient and cost effective- which make our way of

life more convenient. All of these realities of modern society have been in the name of progress. One of the most popular, most obvious technological advances at present is the Internet, which provides the users convenience from entertainment to education and from personal concerns to business matters. Indeed, the Internet introduces many unique benefits to marketing including low costs in distributing information and media to a global audience. Online marketing, as of 2009, is growing faster than other types of media.

Definition of Internet marketing:Placing your business or product on the Internet for millions of users to access so that you can turn your website into a strong tool to maximize your sales and business potential.

But online marketing is much more than putting your advertising online. Internet Marketing includes such areas as communicating with your customers, promoting your business or product online, and making sure that your website content is useful and up to date. The great thing about internet marketing is that you dont need to have a huge budget to put together a marketing campaign that is effective. There are tools that you can use to make your marketing techniques easy and profitable such website templates, shopping cart templates, and online marketing templates. Online marketing, also referred to as imarketing, web marketing, internet marketing, or e-Marketing, is the marketing of products or services over the Internet.

The Internet has brought many unique benefits to marketing, one of which being lower costs and greater capabilities for the distribution of information and media to a global audience. The interactive nature of online marketing, both in terms of providing instant response and eliciting responses, is a unique quality of the medium. Online marketing is sometimes considered to have a broader scope because it not only refers to digital media such as the Internet, e-mail, and wireless media; however, online marketing also includes management of digital customer data and electronic customer relationship management (ECRM) systems. Online marketing ties together creative and technical aspects of the Internet, including design, development, advertising, and sale. There are some important points to consider:Communication through E-mails:- An important part of online marketing is how you respond to your customers e-mail. You dont want to lose potential customers after youve made the effort to have them visit your website and then contact you for more information. E-mail is a very effective and cost efficient way for you to generate more sales. The key to this effectiveness is consistency. You need to be consistent in your response to your customers. Youll also want to make sure that the tone of your e-mail corresponds with the tone youve set in your website content.

Human Resources and relations :- If youre going to succeed online you need to have enough people working with you. Efficient websites incorporate a personal touch with a fast response time to customers. Your goal is to turn the visitors to your website into customers. The standard time for a return e-mail is

from 48 to 72 hours. If you wait any longer to e-mail back you risk losing the customer. This means that if you dont have the man power to return e-mail in two to three days you need to take another look at your marketing strategy.

IMPORTANCE OF SERVICE SALES

Service sales are very important for any business for the greatest sales potential it is a concern for every business owner. Strategic sales planning enable you to answer certain questions? What makes your business unique? Why should customers choose your business over the competition? What makes your service something that customers need? Asking these kinds of questions gives you a good idea about where your business position lies?

Where you want it to be? Below are some the reason why strategic sales is consider as of utmost importance in any business Find Your Niche It is very important for any company to create a niche for your business. But it is very difficult to find a niche. A business niche is a special strategic positioning where you meet the needs of a specific target market that has not yet been addressed, or you sell a specific product that is unique and Learning accord private ltd Leapctive to a wide customer base.

For instance, if you own a maternity fashion retail store, you do not operate in a niche. Rather, maternity business attire fits more into a niche and has the potential to Learning accord private ltd Leapct a specified target market with a need for that product. Helps you to set yourself apart Your job as a business owner is to set yourself apart from the competition. Positioning your business as a cut above the competition will help your sales soar.

Try including unique service offering. Design proper sales plan and follow each step with extreme accuracy can set your company in a position to generate more leads and ultimately results in more sales. Helps you to consider your mission Strategic sales help you to set your sales mission. While you may have lofty goals, you can achieve better success by positioning your services with a more direct and focused directive.

Sales cycle at Learning accord private ltd

RESEARCH

Research is the very first step in the sales for any company. A good research is very important for generating a prospective lead. It is the base of the sales and marketing and it is one of the main sources of information for any company. In Learning accord private ltd its the responsibility of the presales team to do the research. Following are the kind of researches that are being performed by Learning accord private ltdleap presales team. 1. 2. 3. Research in particular geography seeking any business opportunity for the company. Research on a specific company (creating lead document). Other researches like gathering information about latest happenings in Syllabus and CCE Pattern.

CREATING DATABASE

After having a comprehensive analysis of the research that was being conducted, the next step is to create database. Database is the collection of data of the prospects in a particular format. It contains details like contact name, title, email-id, phone number, location etc for any prospects Database could be of any thing it could be of prospects of main frame, cards, payments, testing, switching or details related to particular company. It could also be the list of prospects geography wise etc. If the database is strong and comprehensive than more is the possibilities of getting a success out of it. A database out of which higher number of success comes out is considered to be a good database. It is the responsibility of presales team in Learning accord private ltdleap to create database.

CAMPAIGN MANAGEMENT

Campaign in the sales and marketing is something same as contacting the prospects and building talk with the clients with the purpose of seeking business opportunity. Campaign management at Learning accord private ltd Leap is also the responsibility of presales and business development team. There are mainly two methods of campaign Learning accord private ltd Leap follows:

1. Email Campaign:

Email campaign is just like sending the mail to the prospects out of the database. Email message are created as per the prospects requirement and the particular email message is called the mailer message, which is in the particular format. For example if the contacts database is for switching then email message will be created focusing Learning accord private ltd Leaps expertise in switching. Email are send through mail-merge because of necessity for the mass mailing. A particular mail contains a properly designed message and attachment like company corporate brochure, presentation if required. Mass mailing can be performed on any number of contacts. After the mail are send there are three possibility of outcome: 1. Positive reply If the reply is positive means prospect is looking forward for next round of talks. Then the next step is to set up the telecom meeting with suggested date and time through the outlook scheduler. 2. Negative reply If the reply is negative we will not consider the particular contact for that operating vertical. 3. No reply If there is no reply by the contact we send them follow up mail. The follow up mails are simply the reminder of the previously send email and request for fixing up the telecom meeting. Apart from above three possibilities there is one more possibility that of getting failure notice because of incorrect email ID format. For that we either try to get correct email combination or try using some different combination. Direct Calling Aim of direct calling is to get the telecom meeting fixed for the senior management. If we are contacting on a switch board number getting the direct number is also the concern. First 2-3 round of talk are taken by presales team and for next level of talk is performed by senior management.

Positioning

Positioning is the first phase of the call where experts give introduction about the company. Introduction contain details like company profile, different verticals of operation, current clients, value proposition, previous projects done. These all details help them to have a clear picture about the company, its capabilities, and synergy if any exists. The whole introduction takes around 15-20 min of time, but depending upon the total duration of the call we have to customize time according to that.

Pitch

Now that we have got our prospect on the line, its time to pitch our services according to the need of the clients. As before making the call a proper research is always being done in the form of Lead Document therefore we have some overview about the synergies that could exists with the client accordingly we pitch our services with the main emphasis on client requirements.

Value proposition or why Learning accord private ltd Leap It is very important for a company to tell its client about their USPs. Learning accord private ltd Leap put it in a way as various differentiators differentiating them from its competitors. Some of the differentiator company pitches are:

Domain and Functional expertise Global Delivery Model Strong Financials Good Corporate Governance Demonstrated Track Record Marquee Client Status Multinational Culture Flexible Engagement Models

LEAD GENERATION

In this stage of the process, your sales professionals need to be adept at probing to unearth the customers true needs, in detail. Then they need a way to clearly articulate a buying vision to the customer

capabilities that illustrate how your companys products or services can uniquely meet their needs. The goal of this step is to convince the decision maker to move ahead with an in-depth evaluation of your solution.

PROSPECTING

After having discussion with the clients then prospecting any business opportunity is the next step. At this stage of the sales process, the salesperson is generating qualified leads, fing opportunity with the particular customer, and differentiating his or her company versus the competition. Depending on the situation of business, prospecting can take many forms including networking, seminars, marketing, trade shows, and cold calls. The purpose of this step is to identify a qualified decision maker, or an ally in the organization who can help you reach the decision maker.

SUSPECTING

Suspecting is nothing but qualifying. The goal of qualifying is to determine why the prospect should buy. The most qualified person to answer this question is your prospect, but this is not easy. People are not likely to give away their hot buttons; you must qualify the sales potential of each contact. Here is how we do it. Ask Probing Questions We create a list of probing questions. They help us to determine the level of interest in our service. We ask prospects about their work and the potential benefits of your relationship with them. We then diagnose basic needs and explore options to meet those needs. Check out the budget, scheduling and time issues. We also probe the amount of urgency, try to know who makes spending and budget decisions. It is very important to make sure that we are talking to the right person; if not, find the true decision-maker. Probe and intuit values and loyalties. Inquire about the past, present and future of the prospect and his or her organization. Find out what the customer does and find a way to help him or her do it better. If a prospect answers no to any of our questions it could begin a downward spiral that may end the deal. Ask questions that get a "Yes" response. Stay in the question mode, even if a prospect attempts to get you talking. Do not waste valuable time on people who will not buy. Listen More Than You Talk Qualifying should consist of 95% listening -- or more -- by the sales person. Focus on what the customer is saying. Keep them talking and listen behind the words. Empathetic listening is key. Take notes and repeat back what you think you heard a key to successful selling and rewarding relationships. Sales

paradox is that you give of yourself in order to get back the sale. For example, give trust and receive trust in return. People will tell you how you can add value and close the sale if you listen more than you talk. Get inside the Prospects Head We try to get into the mind and thoughts of our prospect and out of our own mind. Focus on the needs of the client and how to best add value. The goal is to be the person whom customers want to hear from and to help solve their problems. If you do not understand where the customer is coming from, then ask. Stay focused on what is going on in the mind of your prospect. Proposal When you reach this stage the promises end and you have to demonstrate to the decision maker that your company can really deliver the goods. You can create a mutually agreed upon Product/Service Evaluation Plan that highlights key steps to prove your capabilities and ensure a win for both the customer and the salesperson. The Evaluation Plan is an important, formal lever that many salespeople overlook: once a customer agrees to the Evaluation Plan, the salesperson is in control of the sales process. In other words, the customer can only afford to go through the steps of an Evaluation Plan with one selling organization because of the time, cost, and resources to perform each step. The goal of the Proposal stage is that the value has been demonstrated via successful completion of the Evaluation Plan and the customer requests that the salesperson submit a proposal. At this stage of the process the consideration set of company narrows in the eyes of the customer, and responding rapidly and professionally is essential for the sales professional. Most small business owners wince at the thought of how many potential sales slip away when a commitment falls through the cracks or an e-mail goes unanswered.

NEGOTIATION

Sales negotiation strategies aim to increase sales revenue whilst creating the best possible value for the customer. Focused analysis of the power balance within competitive sales situations coupled with strong processes can equip the sales person to get the maximum value for their solution. Assuming that the customer has reached a preliminary decision to buy your product, formal negotiations over the terms of the purchase will now begin. Most, though not all, negotiations usually revolve around price and service (no great surprise). Keep in mind that it is usually a mistake to enter into negotiations with anyone other than a decision maker. If you do, you will find you have simply lowered your product's price unilaterally. Going forward, you will have to negotiate all discounts from the new, lower price once you begin serious discussions with someone who can actually cut a check.

CLOSURE

Closing the sale or gaining the commitment is part of the sale process. There are some specific skill sets required when dealing with this step in the sales process - closing or gaining commitment. However these skills should be used in conjunction with the other sales skills and aligned to the overall sales process. Some of the skills that matter the most are Demonstrate your subject matter expertise with confidence and clarity of purpose Be authentic Separate the stalls from the objections Overcome any objections that arise