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Edit Comment Close Premium member Presentation Transcript Sales & Distribution of financial product in Reliance Money: Sales & Distribution of financial product in Reliance Money Presented By:- Animesh Jain M.B.A. I st SemSlide 2: Reliance money is a part of the reliance Anil Dhirubhai Ambani Group and is promoted by Reliance capital, the fastest growing private sector financial services company in India, ranked amongst the top 3 private sector financial companies in terms of net worth. The success story of the company is driven by 9 success sutras adopted by it namely Trust, Integrity, Dedication, Commitment, Enterprise, Hard work, Home work, Team work play, Learning and Innovation, Empathy and Humility and last but not the least it’s the Network .Slide 3: Vision of Reliance Money To achieve & sustain market leadership, Reliance Money shall aim for complete customer satisfaction, by combining its human and technological resources, to provide world class quality services. In the process Reliance Money shall strive to meet and exceed customer's satisfaction and set industry standards. Mission statement “Our mission is to be a leading and preferred service provider to our customers, and we aim to achieve this leadership position by building an innovative, enterprising , and technology driven organization which will set the highest standards of service and business ethicSlide 5: Objective of the Study The main objective of the study is: To know the expectations of those investors who invested in Reliance Money. To know about the services provided to the investors by Reliance Money. The satisfaction levels of investors with the services provided by the Reliance Money. To know about the areas of Reliance Money where change is to be needed. To know the various factors that are very important in satisfying the customers’ needs and to know how Reliance Money is ensuring its customers satisfaction.Research Methodology: Research MethodologyStep in Research Process:- : Step in Research Process:-Research Methodology: Research Methodology Sources of Data Primary Data v isiting the organization (Observation Techniques) Using structured questionnaire for the existing customers’ and for general public. Secondary Data Company Broachers Company Website Internet Contd….: Contd…. Research Design:- Exploratory Research Sample Unit:- from General Public and also from Reliance Money customers’, Indore. Sample Size:- 100 Units of Customers & Dealer RetailersSales & Distribution of financial product in Reliance Money: Sales & Distribution of financial product in Reliance MoneySlide 12: What is Sales? A sale is the pinnacle activity involved in selling products or services in return for money or other compensation. It is an act of completion of a commercial activity A sale is completed by the seller, the owner of the goods. It starts with consent (or agreement) to an acquisition or appropriation or request followed by the passing of title (property or ownership) in the item and the application and due settlement of a price, the obligation for which arises due to the seller's requirement to pass ownership, being a price the seller is happy to part with ownership of or any claim upon the item.Slide 13: Sales Techniques The sale can be made through Direct sales, involving person to person contact Pro forma sales Agency-based Sales agents (real estate, manufacturing) Sales outsourcing through direct branded representation Transaction sales Consultative sales Complex sales Consignment Telemarketing or telesales Retail or consumer Traveling salesman Door-to-door To tourists on crowded beach Request for proposal An invitation for suppliers, through a bidding process, to submit a proposal on a specific product or service. An RFP is usually part of a complex sales process, also known as enterprise sales. Business-to-business – Business-to-business sales are much more relationship based owing to the lack of emotional attachment to the products in question. Industrial/Professional Sales is selling from one business to another Electronic Web – Business-to-business and business-to-consumer Electronic Data Interchange (EDI) – A set of standard for structuring information to be electronically exchanged between and within businesses Indirect, human-mediated but with indirect contact Mail-orderSlide 14: What is Distribution? Distribution (or place ) is one of the four elements of marketing mix . An organization or set of organizations (go-betweens) involved in the process of making a product or service available for use or consumption by a consumer or business user. The other three parts of the marketing mix are product , pricing , and promotion . Contents The Distribution Channel Channels Channel Members The Internal Market Channel Decisions Managerial Concerns Channel membership Channel Motivation Monitoring and Managing ChannelsSlide 15: Channels A number of alternate 'channels' of distribution may be available Distributor, who sells to retailers Retailer (also called dealer or reseller ), who sells to end customers Advertisement typically used for consumption goods Distribution channels may not be restricted to physical products alone. They may be just as important for moving a service from producer to consumer in certain sectors, since both direct and indirect channels may be used. Hotels, for example, may sell their services (typically rooms) directly or through travel agents, tour operators, airlines, tourist boards, centralized reservation systems, etc. There have also been some innovations in the distribution of services. For example, there has been an increase in franchising and in rental services - the latter offering anything from televisions through tools. There has also been some evidence of service integration, with services linking together, particularly in the travel and tourism sectors. For example, links now exist between airlines, hotels and car rental services. In addition, there has been a significant increase in retail outlets for the service sector. Outlets such as estate agencies and building society offices are crowding out traditional grocers from major shopping areas.Slide 16: Various financial products of Reliance Money and their description are as follows : Reliance Mutual Funds Demat Account Services Reliance Life Insurance Reliance General InsuranceSlide 17: MY WORK AT RELIANCE MONEY At RELIANCE MONEY , initially we were imparted process and product knowledge. We were given sufficient time to know about the products and also about sales and distribution channel. We had to work with the sales representatives of the Distributor and think of ways of improving the sales and distribution channel and implementing them. The main aim was to increase sales and for this different ways were tried and implemented. We were provided with database and had to make calls from the data. Company activity was also one of the major sources for generating business. Initially they even accompanied sales representatives to the clients place. Main objective was to know the need of the customer and how to fulfill that in the best way. The project dealt with various fields like: Demat account Mutual funds Life insurance This experience helped me to understand the basic functioning of the Reliance Money as a Broking House and I came to know the products of Reliance Money. The Training Sessions were held by the reliance money in Indore. We were assigned targets to sell the Demat A/c of Reliance Money. These training gave me an insight into the products that Reliance Money deals in. The best learning experience was that I started from the very basics of getting to that position and not from the position itself. This helped me get useful insight and understanding of various financial products, the market details about them and the benefits provided by them to the customers.Slide 18: Our task was divided in 4 phases : 1. Product knowledge: This included the theoretical knowledge about the field and products which needed to be marketed. 2. Pitching in retail sector: This included the implementation of the knowledge imparted to us and the test of our marketing skills. Initially we were accompanied by other sales executive so that we can learn how to deal with the customers and understand their need. This also enhanced our interpersonal skills and confidence level. 3. Implementation in retail sector and pitching in corporate: By the start of this phase we were confident enough about the pitching and fulfilling the needs of the customer in the retail sector. This also included of the ways we should pitch the corporate. 4. Implementation at corporate levels: This included the implementation of the all the knowledge and ways learnt for the pitching and extracting business out of the corporate. With the end of 8 weeks every phase was completed and it gave us the real experience of retail as well as corporate world.Slide 19: Reliance Mutual Funds “ A mutual fund is a common pool of money into which investors place their contributions that are to be invested in accordance with a stated objective. The ownership of the fund is thus ‘joint’ and ‘mutual’; the fund belongs to all investors.” Mutual Fund Operation Flow ChartSlide 20: Today there are 33 mutual fund companies in India in which some are as below. Reliance Mutual Fund (RMF) ABN AMRO Mutual Funds Birla Sun life mutual Funds HDFC Mutual Fund HSBC Mutual Fund ING Vysya Mutual Fund Prudential ICICI Mutual Fund Sahara Mutual Fund State Bank of India Mutual Fund Tata Mutual Fund (TMF) Kotak Mahindra Asset Management Company (KMAMC) UTI Asset Management Company Private Limited Standard Chartered Mutual Fund Chola Mutual Fund LIC Mutual Fund GIC Mutual FundSlide 21: Types of Reliance Mutual Funds Reliance Growth Fund Reliance Vision Fund Reliance Banking Fund Reliance Diversified Power Sector Fund Reliance Pharma Fund Reliance Media & Entertainment Fund Reliance NRI Equity Fund Reliance Equity opportunities Fund Reliance Index Fund Reliance Tax Saver (ELSS) Fund Reliance Equity Fund Reliance Long Term Equity Fund Reliance Regular Saving Fund Reliance Natural Resources Fund Reliance Infrastructure FundSlide 22: Reliance SIP Insure Reliance SIP Insure facility is an add on feature of life insurance cover under Group Term Insurance to individual investors opting for SIP in the designated schemes. It helps to encourage individual investors to save & invest regularly through Systematic Investment Plan (SIP) and help to achieve their financial objective without any hindranceSlide 23: Designated Schemes in which Reliance SIP Insure will be offered - Reliance Growth Fund - Retail Plan Reliance Vision Fund - Retail Plan Reliance Equity Opportunities Fund - Retail Plan Reliance Equity Fund - Retail Plan Reliance Regular Savings Fund – Equity option - Reliance Banking Fund - Reliance Pharma Fund - Reliance Media & Entertainment Fund - Reliance Diversified Power Sector Fund – Retail PlanSlide 24: Advantages of Mutual Funds Diversification Professional Management Regulatory oversight Liquidity Convenience Drawbacks of Mutual Funds No Guarantees Fees and commissions Taxes Management riskSlide 25: Reliance Demat Account In India, a Demat account , the abbreviation for dematerialized account , is a type of banking account which dematerializes paper-based physical stock shares. The dematerialized account is used to avoid holding physical shares: the shares are bought and sold through a stock broker. This account is popular in India. The Securities and Exchange Board of India (SEBI) mandates a Demat account for share trading above 500 shares. As of April 2006, it became mandatory that any person holding a Demat account should possess a Permanent Account Number (PAN), and the deadline for submission of PAN details to the depository lapsed on January 2007.Slide 26: Benefits of having a Reliance Money Account It’s cost effective Its offers single – window access It’s convenient Its Safe Its provides you a demat account Its provides you a 3-in-1 facility It provide you value- added servicesSlide 27: The Benefits A safe and convenient way to hold securities; Immediate transfer of securities; No stamp duty on transfer of securities; Elimination of risks associated with physical certificates such as bad delivery, fake securities, delays, thefts etc.; Reduction in paperwork involved in transfer of securities; Reduction in transaction cost; No odd lot problem, even one share can be sold; Nomination facility; Change in address recorded with DP gets registered with all companies in which investor holds securities electronically eliminating the need to correspond with each of them separately; Transmission of securities is done by DP eliminating correspondence with companies; Automatic credit into demat account of shares, arising out of bonus/split/consolidation/merger etc. Holding investments in equity and debt instruments in a single account.Slide 28: Reliance Life Insurance What is Life Insurance? The main reason to buy Life Insurance is to provide income replacement for your loved ones An amount of money paid to someone (called beneficiary) when the Life Assured (in whose name the insurance policy is taken) dies. This amount can be used to pay the expenses related to Life assureds death or can be invested to generate income that will replace your salary. Life Insurance is an important tool in any investors portfolio & can be used for - wealth creation, asset building, provide for contingencies and retirement planning.Slide 29: Types of Life Insurance Policies Most Insurance policies are a combination of Savings & Protection. Products are formulated by either increasing or decreasing either one of these components. These combinations can be broadly divided into 4 groups ULIPs Term Insurance Endowment Policies : Whole Life; Unit Linked etc Annuities & PensionSlide 30: Insurance Plans Protection Plans Reliance Term plan Reliance Simple Term plan Reliance Special Term plan Reliance Credit Guardian plan Reliance Special Credit Guardian plan Reliance Endowment plan Savings & Investment Plans Reliance Total Investment Plan Series I - Insurance Reliance Wealth + Health plan Reliance Automatic Investment plan Reliance Money Guarantee plan Reliance Cash Flow plan Retirement Plans Reliance Total Investment Plan Series II – Pension Reliance Golden Years Plan Reliance Golden Years Plan Value Reliance Golden Years Plan Plus Retirement Plans Child Plans Reliance Child plan Reliance Secure Child plan Reliance Wealth + Health planSlide 31: RGICL Products Health Individual Mediclaim Insurance Policy Group Mediclaim Insurance Policy Overseas Travel Care Insurance Policy Personal Accident Personal Accident Insurance (Individuals) Policy Group Personal Accident Insurance Fire Standard Fire and Special Perils Policy Industrial All Risks Insurance Policy Consequential Loss (Fire) Insurance Policy Engineering Erection All Risks/Storage-cum-Erection Insurance Policy Contractor’s All Risks Insurance Policy Contractor’s Plant and Machinery Policy Machinery Breakdown Insurance Policy Marine Marine Cargo Insurance Policy NEW - Marine Turnover based Policy NEW - Multi Transit Policy Motor Private Car Comprehensive Insurance Policy Liability Directors and Officers Liability Insurance Policy Public Liability (Act) Insurance Policy Public Liability Insurance Policy Packaged Policies For Corporates Industry Care Insurance Policy Commercial Care Insurance Policy Office Package Insurance Policy Fidelity Guarantee Insurance PolicyData interpretation & Analysis: Data interpretation & AnalysisSlide 33: TABLE SHOWING DIFFERENT AGE GROUP OF THE RESPONDENTSSlide 34: TABLE SHOWING NUMBER OF PEOPLE KNOWING ABOUT RELIANCE MONEYSlide 35: PREFERRED FUND STRUCTURESlide 36: INVESTORS SCHEME PREFERENCESlide 37: INVESTORS FUND PREFERENCESlide 38: GETTING MONTHLY / QUARTERLY STATEMENTS FROM TIME TO TIMESlide 39: RESPONDENTS RANKING ON THE CUSTOMER SERVICE OF RELIANCE MONEYSlide 40: RESPONSE REGARDING AREAS FOR IMPROVEMENT BY RELIANCE MUTUAL FUNDSSlide 41: REDEMPTION SATISFACTION OF THE CUSTOMERSSlide 42: SWOT ANALYSIS Strength Co-operative and Experienced Branch Managers Good Database Reliance Brand Low pricing Weakness Inexperienced Staff Low awareness due to lack of advertisement. Lack of loyal clientage Developing product. Opportunity Untapped Market Increased spending power Changing Mindset of Customers Unpredictable Sensex Threat Reach Stiff competition from existing players in the market Better productsSlide 43: Limitations of the Study The time constraint was one of the major problems. Lack of interest among the investors in filling the questionnaire. There is lack of team spirit among the branch employees. Services often delayed because of the technical problem in the complete network. Lack of information sources for the analysis part. Kiosks are not properly placed at various locations. The study was restricted to Reliance Money Limited to only in Cuttack district. The study is conducted with the data available and the analysis was made accordingly. It was tough to get all relevant facts from the personnel and employees concerned due to some secret document not provided by the business organization, which is inherent in an industry. Time factor was a limitation as only a stipulated period had been ascertained to me while the personnel had little time to my queries due to their daily busy schedule. It is not feasible to compare all the products of various brokerage firm.Slide 44: Suggestions and Recommendations The following suggestions are the outcome of the research and applications of these suggestions are not necessary:- The company should come up with innovative ways of service at their door steps this may be a costly affair but will surely give positive results in the long run. The company should take the initiative of training the advisors about the new funds from time to time which also makes the advisors connected to the company. The company should also emphasis on the monitoring of funds which directly relates to the returns of a specific fund. The company should come up with proper Hedge funds at this point of time where the market is highly volatile and the investors become very cautious at this level. The company should use brand ambassadors for example the CEO’s of major companies where the company allocate the funds. This will probably ensure proper results. The company should focus on the advertising strategy and also the marketing of the product. The company should emphasis on creating an awareness about the SIP options which is always preferable when the market is volatile. The company doesn’t have enough tax saving plans or appropriate plans for tax so which they should come up with.Slide 45: Findings and Conclusion The findings for the above research are as follows:- It was found that majority of the investors i.e.46% is from the age group of 36-54 . This is the group of middle age people who deserve to invest for their future financial needs. It was found that Out of 100 respondents 64 customers have already reinvested in the company, while the rest are waiting for a correct time to enter in the market for the second time. It was observed that Out of 100 respondents 62 investors have reinvested due to better returns and performance of funds. While 28 investors have voted for non performance of funds and services provided by the company. It was observed that Out of 100 investors 15 that is 15% of customers are preferred to invest in Tax saver funds. 40 that is 40% of investors are preferred to invest in index funds which give returns based upon respective indexes.. 45 that is 45% of investors are interested to invest in sectorial funds that means they are ready to take high risk but want high returns It was found that Out of 100 respondents 34 ranked RELIANCE as one for customer service function. It was found that Out of 100 respondents 38 respondents want RELIANCE to improve at their fund monitoring functionSlide 46: Bibliography BOOKS MUTUAL FUNDS IN INDIA – (PERSPECTIVES AND STRATEGIES) - Arindam Banerjee MARKET RESEARCH - Naresh Malhotra MARKETING MANAGEMENT - Philip Kotler WEBSITES www.reliancemutualfunds.com www.amfiindia.com www.mutualfundsindia.com www.ask.com www.faq.com www.bseindia.com www.nseindia.com www.investopedia/aboutus/html www.valueresearchonline.com www.moneycontrol.com www.scribd.com www.google.com: Thank You You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.