Arun Panwar

8/4/2019 Arun Panwar

http://slidepdf.com/reader/full/arun-panwar 1/49

A

FINAL REPORT

ON

STUDY CUSTOMER PERCEPTION ABOUT M.SOLUTIONS AND

TO SALE INSURANCE POLICES & PMS SERVICES

In Dehradun during 18 May to 18 Aug

Submitted To: - Submitted By:-

Resp. Ms. SONIA GAMBHIR Mr. ARUN PANWAR

ID – 1001C10002

MBA- II

Acknowledgement



I am writing this final evaluation report during the Summer

Internship Program (SIP) 2011 in the Program of Master of

Business Administration at the Division of Financial Marketing at

M.Solutions for ICFAI University, Dehradun. It has been a great

challenge but a plenty of learning and opportunities to gain huge

knowledge on the way writing this report. I would not have

survived these sixteen weeks without Ms. Sonia Gambhir, our

amazing faculty guide, who seemed to be with us- always, and

prepared to give us feedback and guidelines whenever we needed

it. Thank you Ma’am! And one person, without his help and

continuing support I can’t pursue my SIP at M.Solutions is my

Company Guide Mr. Rahul Sharma. Thank you sir for continues

advices, mentoring and kind support for the accomplishment of my

OJT (On the Job training).

I also would like to thank all my friends, my colleagues and all

those persons whom I met in this time period for all feedback and

help which they provided to me. And of course to M.Solutions and

ICFAI University Dehradun, all their help and support. Thank you

all! I have learned a lot during these sixteen weeks and I hope you

will find my working as interesting and knowledge earning as I

have and that this report is showing to all. And it will be useful for others wanting to learn about SIP, my company M.Solutions

PREFACE

2

2



This is the final evaluation report for our SIP. The summer

internship program (SIP) commenced from the 18 th of May

2011 and will formally close on the 22th

of Aug 2011. Theduration of the SIP is approx. 4 months (i.e. 16 weeks).

So as we know, these sixteen weeks (SIP) is the prelude to Pre

Placement efforts. It is during these four months of exposure to

the industry that we can impress the host organization with our

hard work, sincerity, knowledge and ethics. In most cases a

successful SIP leads to pre-placement offer. SIP would also be

a great learning experience since it enables us to blend theory

and practice, observe and learn the current trends in the

market.

In this report intern is totally free to share all his experiences

during, SIP, good and bad both. So this report reflects the

originality, the whole truth about intern’s working. And I’m

also putting these all things in this report.

index

3

3



Introduction ................................................5

Objective ....................................................6

Company Profile .........................................8

Environment ...............................................13

Vision .........................................................17

Mission .......................................................20

Target’s and Task .......................................23

Strategies Adopted......................................25

Achievement ..............................................30

Analysis of Performance Vs Target .............32

Reason of Variance ....................................34

Mid Course Correction ................................36

Swot Analysis .............................................38

Problems/Limitations ..................................41

Learning in the executive Training .............44

Awards And Reward received .....................46

Conclusion ..................................................47

Bibliography ...............................................50

INTRODUCTION4

4



Consumer perception is the study of how he purchases, how he

sells, how they get feedback from consumers and after that he came

to conclusion about particular M.Solutions product. It is asubcategory of marketing that blends elements from different

fields. It attempts to understand the buyer decision making process,

both individually and in groups. It studies characteristics of

individual consumers such as demographics, psychographics and

behavioral variables in an attempt to understand people’s wants. It

also tries to assess influences on the consumer from groups such as

Family, friends, reference groups, and society in general. By

understanding the consumer, we will be able to make a more

informed decision as to which strategy to employ.

5

5



OBJECTIVE

As we all know that the real corporate conditions are all together

different from what we study in the books, so in order to get the

real corporate environment this ‘Summer Internship Program’ is

necessary for students of M.B.A. It has other benefits as well; it

gives the student the chance to work in the company. He gets the

practical exposure to the real working conditions of the company.

•

The objective of doing this summer internship program (SIP) isto gain the practical knowledge of the prevailing market6

6



conditions as well as to get the true picture of the corporate

world.

• To understand the business sector and market knowledge and

selling skills.

• To achieve the targets set by our company guides which gives

us a feel of labor.

• To understand the market condition and his needs and wants.

• To gather as much knowledge about the companies products.

• The SIP (summer internship program) provides a student full

corporate knowledge related to his respective field.

7

7



History of M.solutions company

About MLISL Group:-

• MONEYLINE INVESTMENT SOLUTIONS LIMITED.

• M SOLUTIONS.

• OM SAI OM ASSOCIATES.

• KANNALITE FACILITY MANAGEMENT SERVICES PVT. Ltd

8

8



Presence in India

• India’s first truly client oriented company

• 110 Channel Partners across India

• Revenues of over 50 crores

• Market capitalization of over 150 crore

• Over 50 per cent revenues flow from our broking

division

• Over 300 employees belonging to over 25 different

nationalities

• 7 stakeholders

• “The Best Employer in India and among the top 20 in

India” Economic Times Survey 2006.

9

9



Strong presence in financial vertical:

•

Life Insurance – 1st

Limited life insurance distributionBrokers

• Mutual Funds – Under distribution the first to manage AUM

of approx 200 crore from institutional and individuals

• Insurance Broking – Moneyline Investment Solutions

Limited

•

Equity & Commodity Broking – In distribution with AdityaBirla Money Ltd

• PMS Services – Since 2007 with personalized wealth

managers operating in India catering financial companies and

individual (HNI)

• Strong player in broking

10

10



• Have a strong distribution network of over 35 own branches

and 110 business partners.

•

Large customer base in excess of 15,000.• Strong technology backbone and a range of products

delivered through a robust online and offline model.

• Dealing under MCX, COMMODITIES, CM, DEPOSITERY

BASED SERVICES.

About M.solutions Company

M-Solutions is the sub broker of Aditya Birla money group. The M-

solutions working behalf of Aditya Birla money. Aditya Birla money

pioneered the unique Unit Linked with the sun life Insurance Solutions in

India. The Aditya Birla Group, a US $70 billion conglomerate, is among

the largest business houses in India. It enjoys a leadership position in all

the sectors in which it operates. It is anchored by a force of 100,000

employees, belonging to 25 nationalities. Their operation spans 25

countries across six continents and is reckoned as India's first

multinational corporation. Headquartered in Mumbai, India, over 60 per

11

11



cent of the Group's revenues flow from our overseas operations.

The Group nurtures a work culture where success is built on learning and

innovation. The Aditya Birla Group has been adjudged "The Best

Employer in India and among the top 20 in Asia" by the Hewitt, Economic

Times and Wall Street Journal Study 2007.

12

12



THE INVIRONMENT

Competition has a significant impact on the marketing

environment. In this phase we discuss about the businessenvironment of m-solution

The Business environment of m-solution is basically two parts,

they are

Internal Environment

External Environment.

In the Internal Environment there are so many factors like

o

Human Resource – This is the important factor amongthe other factors. As the selling product is same that’s whyHuman resource is playing the vital role. It includes theexecutives as well as the sales people.

o Company Location – this is also vital factor of internalEnvironment .In Dehradun m-solution is located by the side

of Rajpur road which is the midpoint of the city. It will helpthe firm to capitalize the market very easily.

13

13



o Financial Capability – m-solution is the subsidiary of

Aditya Birla money, so financial capability of the companyis very high and in contingency time it can get support fromits mother concern.

o Company Image – m-solution is one of the biggest inthe financial service sector of India as well as in the world.So the company image is the advantage for the m-solution

over the others.

Now we will see the external environment that can effect

the M-solutions, they are mainly two types i.e.

o Micro Environment – In the Micro Environment thereare main two factors,

They are as follows:

Distributors – There are some national distributors like Sharekhan, Tata AIG etc there are near about 150 IFA’s who

distribute and control the selling of m-solution Mutual funds

throughout Uttarakhand.

14

14



Customer – The customer base of M-solutions in Uttarakhand

are the service class, the business class as well as the

corporate houses of UK.

o Macro Environment – The Macro Environment is basically effect the company most but indirectly , they areas follows :

o Political Environment – The political environment of Dehradun is very good which helps m-solution continue its

business peacefully.

o Socio-Cultural – The product portfolio and the company

policy is made seeing the social cultural values of the

Indians.

o Economic Condition – The economic condition of

Dehradun is more or less good so they are so much potential

market for m-solution or other investment firms.

o Natural – Though there is no much effect Natural

weather in the business of m-solution, still the weather of

Dehradun is very pleasant for the company.

15

15



16

16



Vision

M.Solutions continues to pursue its 21st century vision of becoming

a worldwide leader in finance—ensuring customer satisfaction

through innovative products and superior service while aiming to

rank among the world’s top finance company.

On our way, we hold tight to a philosophy of “Great Company,

Great People,” underscoring our belief that only great people can

create a great company.

M.Solutions strives for greatness in what we’ve identified as our

three core capabilities: Product Leadership, Market Leadership, and

People Leadership—each strength a key part of realizing our

growth strategies for “fast innovation” and “fast growth”.

17

17



VISION

Global Top 3

Financial company

GROWTH STRATEGY

“Fast innovation, Fast growth”

CORE COMPETENCY

“Product leadership, Market leadership,

People leadership”

CORPORATE CULTURE

No excuse, “we” not “I”, Fun workplace

18

18



Mission

The mission of M.Solutions is to provide the customers with utmost

satisfaction through leadership.

19

19



The fundamental policy of development is to secure product

leadership that the Customers may have the utmost satisfaction.

Product Leadership

We are focusing on six development areas to become the product

leader.

1. New Services

2. Insurance

3. PMS Services

Code of conduct of M.solutions:

1. Responsibility and obligations to customers :

• Respect for Customers

• Creating Value

• Providing Value

2 Fair competition

• Pursuit of Free Competition

• Compliance with Laws and Regulations

3 Fair Transaction :

20

20



• Equal Opportunity

• Fair Transaction Procedure

• Support and Aid for Business Partners

4 Basic Ethics for Employees

• Basic Ethics

• Completion of Duty

• Self Development

• Fairness in Performance

5 Corporate Responsibilities to employees

• Respect for human dignity

• Fair Treatment

•

Promoting Creativity

6 Responsibilities to society and country

• Rational Business Development

• Protection of stock holder interest

21

21



TARGET’S AND TASKS

• It is all about login in business. Like all other companies we

have also got the target on the monthly basis, which is we have

to sell the life insurance worth Rs. 10,000 or portfolio

management service(PMS) Rs 50,000 per month. For this

purpose we have to call the people, get the appointments from

the interested people, visit them and tell them about the

different available products of the company. We have to also

go in the market and find the interested people who want to

invest in the M.Solutions. We have to tell the people about the

22

22



feature of the company, as this company is new one in the

market.

We have to first understand the products of the company welland then go into the market. We have to keep the full

knowledge of the company as well as the products.

Serial

Number

Month’s Target

Assigned

Product Task

1 Ist Month 100000 Insurance

product of

Bajaj Allianz

Meet the

customer

2 IInd Month 100000 Insurance

product of

Bajaj Allianz

Fix meeting

one customer

every day

3 IIIrd Month 100000 Insurance

product of

Bajaj Allianz

Pitch policy

to the

customer

23

23



STRATEGIES

Strategic business planning should be proactive rather than

reactive. There are few steps which I used effectively to develop a

business plan suitable for the organization which are stated as

below:-

• Prepare the statement that describes, which business the

company is in and what are the companies products that

customer need.

• Develop the mission statement.

• State the premises on which the plan is based.

• Analyze the companies past performance.

• Evaluate the impact of changes taking place in the

market.

24

24



• Compare the image of the company with that of the

expected image of the customers.

• Search for the critical success factors of the company and

try to add value to them.

• Check the performance of the management.

• Search the ways to enhance the performance of the

management.

As I was doing the personal selling this is the form of

selling a product directly to the customer by explaining or

demonstrating the features of the product to him/her.

Personal selling is highly specific, with regard to target

Audience. The costs involved are high as the salesperson

has to personally meet every potential customer. But in

M.Solutions we were provided with free calling facility. We

used to call at least 10 people every day and get

appointments from them. Then we have to go on the calls to

meets the customers from whom we got the appointments.

I used endless chain method to get the references, that

every person whom I met I tried hard to at least five

references from him. I also used to get references from my

friends, and the people I know in this city.

Another thing which is to be kept in the mind is to identify

the target market and its needs accurately, while striving to

serve those needs according to customer’s expectations will

help the company to gain the competitive advantage. Every

customer has individual tastes and preferences and can be

classified as the distinct target audience. The tastes of twocustomers will never match. So it not feasible for the

25

25



insurance and PMS to customize the products to suit the

requirements of every customer. So it all depends on the

sales personnel how he will present the same product to

different customers.

The steps which I fallowed to get the customers are

enumerated as below:-

• PROSPECTING AND EVALUATING:- Prospecting is

the process of finding and evaluating potential

customers. For qualifying a person as potential he shouldhave an immediate need.

• PRE-APPROACH:- After having identified the hot

leads, the sales person plans and prepares for making a

sales call on them. The pre-approach of personal selling

process involves further sub stages such as creation of prospects profile, deciding on the approach, and

preparing for the presentation.

•

APPROACH:- Approach is the stage in personalselling process in which the sales person makes the26

26



initial contact with the potential customer and tries to

find out his needs.

• PRESENTATION:- The sales presentation is the most

important step in the sales process. The aim of the sales

presentation is to get the customers attention towards the

product.

• HANDLING OBJECTIONS:- Sales persons need to

clarify any doubts or objectives that the customers might

have.

• CLOSING:- This is the stage in the sales person asks

the customer to buy the product is called closing.

• FALLOW UP:- The objective of every sales person is to

ensure repeat sales. This can be achieved by enhancing

the customer satisfaction. Fallow up stage plays an

important role in showing that the company and the sales

persons are genuinely interested in nurturing a long term

relationship with the customer.

27

27



28

28



ACHIEVEMENTS

The target of the summer internship programmed has been sub

divided on the monthly basis. The report of last 3 month is given in

the fallowing table:

Serial

Number

Month’s Target

Assigned

Target Achieved Remarks

1 18th of may

to 18th of

June

10,000 Nil Market

Research

2 18th of June

to 18th of

July

10,000 Nil Market

Research

3 18th of July

to 18th of

Aug.

10,000 Achieved (5th of

Aug.)

10,000

policy

In the first month. I was not able to generate any business because

the customers were not ready to buy the insurance and PMS at that

moment. They gave a time of 1-2 months. I kept meeting with new

customers, and finally I was able to sell the business of Rs 10,000

in the 3rd month’s which was a big achievement fog me.

29

29



30

30



ANALYSIS OF PERFORMANCEVs VARIANCE

I was assigned so many tasks by my company guide as time to

time. These tasks were simple as well as tough to be achieved.

I tried my level best to achieve these targets or to accomplish

the tasks assigned. Sometimes I succeeded whereas sometimesI failed.

But with my best of the hard work I tried to come out with the

best outcomes. Our SIP (Summer Internship Program) started

on 18th may2011. We had an introduction session of one week

and than we started our work.

I was given the targets varying in nature. These targets werequalitative in nature rather than being in monetary terms. I

achieved most of the targets in the desired time. But some of

them were unachieved and hence I had to extend the work for

sum more time.

31

31



REASONS FOR VARIANCE

32

32



There were sum main reasons for the variance in target

achievements. These were:-

o

Lack of proper knowledge.o Lack of the corporate experience.

o Deviation from the main target.

o Unsupportive nature of the employees.

o Lack of motivation.

o Time constraints.

33

33



MID COARCE CORRECTION

Working with PMS services and finance company is a hectic

job because you have to convince people and get money out of

them. It is even harder for those who are the outsiders like me.

34

34



For professionals working with insurance and finance

companies need to have as many as contacts as possible,

because it is all about meeting new people and getting

references. So it necessary to work with definite strategy to bethe insurance company and finance company. I also applied

some strategies to login business. I opted to share my

commission with the customers in order to attract them. I also

visited the place where people were free and ready to listen.

First we approach the customer for only D-mat and PMS

services but after 3 week. Company adds the target sale the

insurance policy. So this is not clarified. When we joined the

company. So this is mid corruption to company

35

35



SWOT ANALYSIS

After collecting and analyzing all the information about

M-solution in Dehradun we can do a SWOT analysis on it.

The main strengths of M-solutions are as follows:

• Brand image of Aditya Birla money.

• Wide range of product portfolio.

• Financial backup by the mother concern.

36

36



M-solutions should capitalize on these three things as much as

possible and take the advantage over it competitor.

The main weakness of M-solutions is

• Less product differentiation

• Least Employees.

M-solutions need not worry about the less employee force but

should pitch its product to the right customer in right time at

right place in right way and giving better customer service to

capture more market share.

The opportunity in the base of Uttarakhand is that:

• Legal and political environment is good.

• As per capita income of Dehradun is better than thenational per capita income then here m-solution can getmore investment from the customers.

The threat will be:-

• The new Finance company, Insurance Company andshare trading company are giving a cut throatcompetition to the M-solutions, so it must carefully

handle the customers.

• Market fluctuation – It can’t be handled by the firm soM-solutions must suggest its customers to invest themoney for long term which minimize the risk of sinkingof any funds.

37

37



38

38



PROBLEMS AND

LIMITATIONS

There were a number which I faced during my summer

internship programmed but the main ones are discussed

as below:-

• The first and the main limitation is that recession is

going on these days, so people are not getting good

39

39



return for their investments which they were getting 2-3

years back. So they are interested in investing their

money in insurance and finance companies.

• The second limitation is that M.Solutions Company isthe new company in the market. Most of the people do

know nothing about the company as a result they are not

interested in investing their money in a company about

which they know nothing.

• The third limitation is that I am not a local. I did not

know much about the city and the people. I also faced

problems in getting references.• The fourth limitation is that M.Solutions Company has

got a limited number of branches as compared to other

Life Insurance companies and PMS services.

• The fifth limitation is people do not have faith on the

private companies.

• Another limitation is that the customers do not know the

benefits of the insurance and PMS services they are

ready to listen as well.

• Another limitation is that M.Solutions has less number of

product lines as compared to other insurance and Finance

companies.

40

40



41

41



LEARNING AND EXECUTIVE

TRAINING

Executive training is the inseparable part of the MBA program.

It provides the real face of the corporate world to students. It

helps students to make them adaptive to the conditions to

survive in the competitive world.

Following are the sum lessons what we get during our SIP

(Summer Internship Program):-

• Punctuality and hard work is the key to success.

• Positive attitude and strong confidence needed.

42

42



• How to behave in corporate world and follow the rule

and regulation formed by company is important to

sustain.

• How to handle the customer and their queries.

• How to interact with the customer and to figure out their

problem.

• Be honest and committed towards work.

• Well disciplined strategies are required to achieve

success.

43

43



AWARDS

Awards, incentives and stipend are the most important factors

to get motivated towards the work. By these factors more

productivity can be achieved. As far as awards are concerned

I have performed best of my capabilities, I got a very

generous backup and a positive support from the company,

which wasn’t less than award. As I was so nervous entering

the company that I would not be able to achieve or fulfill the

targets as I would be expected but thanks to all the senior

employees who encouraged me a lot. I got a stipend also of

Rs. 2500 per month, which also motivated me to work better.

It was not that I was attracted towards the monetary aspect but the stipend gave me a feel that I am expected to work as

am getting some value for it.

I also got incentive on the target which is achieved by me.

44

44



45

45



CONCLUSION

This training is very vital part of the whole MBA program.This is the key to success in our career. The SIP provides a real

exposure to the corporate world. During these 13 weeks I

learned a lot. These 13 weeks gave me a practical knowledge

of working in an organization. I am quite lucky to get the

chance of working in an organization like this which gave me

true exposure to the corporate world.

After the completion of M.B.A program we are suppose to jointhe corporate world and now we are experiencing the same

atmosphere. Although it is our initial step hence we are feeling

little bit stressful. If we perform our best we can get pre

placement offer from our SIP Company. Our SIP record could

help us during placement time. As we know hard work is the

key to success, so we tried our level best.

Finally the conclusion is that one has to work hard and refinehis skills to reach the height of perfection. Although we are

facing some problems but I hope with hard work and

dedications we can tackle them in future.

46

46



47

47



BIBLIOGRAPHY

List of Books and Articles:

• Mallette Paul, Doing the Right Thing: Bank one’s

Response to the Mutual Fund Scandal, Colorado State

University

• Basic of Mutual Fund.

• Marketing Management, ICFAI Press

• Business Research Method’s ICFAI Pres.

• Business Economics, Business Today, Business World,

Outlook Money.

48

48



List of Websites Articles-

• www.m-solution.org.in

• www.valueresearchonline.com

• www.businessplans.org

• www.amfiindia.com

• www.rediff.com/money

• www.bulletproffbizplans.com

• www.birlasunlife.com

• www.sbimf.com

• www.mfea.com

• www.finance.yahoo.com

• www.moneycentral.msn.com/investor

• www.wikipedia.com

• www.rediff.com/stockqutes

• www.mfea.com

• www.finweb.com• www.reliancemoney.com

49

http://www.valueresearchonline.com/

http://www.businessplans.org/

http://www.amfiindia.com/

http://www.rediff.com/money

http://www.bulletproffbizplans.com/

http://www.birlasunlife.com/

http://www.sbimf.com/

http://www.mfea.com/

http://www.finance.yahoo.com/

http://www.moneycentral.msn.com/investor

http://www.wikipedia.com/

http://www.rediff.com/stockqutes


http://www.finweb.com/

http://www.reliancemoney.com/

http://www.valueresearchonline.com/

http://www.businessplans.org/

http://www.amfiindia.com/

http://www.rediff.com/money

http://www.bulletproffbizplans.com/

http://www.birlasunlife.com/

http://www.sbimf.com/


http://www.finance.yahoo.com/

http://www.moneycentral.msn.com/investor

http://www.wikipedia.com/

http://www.rediff.com/stockqutes


http://www.finweb.com/

http://www.reliancemoney.com/

Arun Panwar

Documents