Presentation

Sales improvement strategies of Money Matter Inc. in Ludhiana and Chandigarh

Under the Guidance of:- Ms. Chitwan BhutaniFaculty Member, PCTE , Ludhiana

Presented By :-Sachin Kumar BassiMBA 2A

Insurance

Life Insurance Companies In India

Life insurance Companies in India

1. Bajaj Allianz Life Insurance Co. Ltd. 12.Shriram Life Insurance Co. Ltd.

2. Birla Insurance Co. Ltd. 13.Star Union Dai-ichi Life.

3. HDFC Standard Life Insurance Co. Ltd. 14.India First Life Insurance Co. Ltd.

4.ICICI Prudential Life Insurance Co. Ltd. 15.DLF Pramerica Life Insurance Co. Ltd.

5.Life Insurance Corporation of India. 16.Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd.

6.Reliance Life Insurance Co. Ltd. 17.IDBI Fortis Life Insurance Co. Ltd.

7.Sahara India Life Insurance Co. Ltd. 18.Future Generali India Life Insurance Co. Ltd. 

8.Tata AIG Life Insurance Co. Ltd. 19.Bharti AXA Life Insurance Co. Ltd. 

9.Max New York Life Insurance Co. Ltd. 20.Kotak Mahindra Old Mutual Life Insurance Ltd.

10.AEGON Religare Life Insurance Co. Ltd. 21.Met Life India Insurance Co. Ltd.

11.ING Vysya Life Insurance Co. Ltd. 22.Aviva Life Insurance Co. India Ltd. & 23. SBI Life Insurance Co. Ltd 

Market Share of Different Life Insurance Companies

General Insurance Companies In India

General Insurance Companies in India

1. Bajaj Allianz General Insurance Co. Ltd. 12. HDFC ERGO General Insurance Co. Ltd.

2. ICICI Lombard General Insurance Co. Ltd. 13. Export Credit Guarantee of India Ltd.

3. IFFCO Tokyo General Insurance Co. Ltd. 14. Agriculture Insurance Co. of India Ltd.

4. National Insurance Co. Ltd. 15. Star Health and Allied Insurance Co. Ltd.

5. New India Assurance Co. Ltd. 16. Apollo Munich Health Insurance Co. Ltd.

6. The Oriental Insurance Co. Ltd. 17. Future Generali India Insurance Co. Ltd.

7. Reliance General Insurance Co. Ltd. 18. Universal Sompo General Insurance Co. Ltd.

8. Royal Sundaram Alliance Insurance Co. Ltd. 19. Shriram General Insurance Co. Ltd.

9. Tata AIG General Insurance Co. Ltd. 20. Bharti AXA General Insurance Co. Ltd.

10. United India Insurance Co. Ltd. 21. Raheja QBE General Insurance Co. Ltd.

11. Cholamandalam M S General Insurance Co. Ltd.

22. SBI General Insurance Co. Ltd.& 23.Max Bupa Health Insurance Co. Ltd.

Market Share of Different General Insurance Companies

The Right Organization to Partner With

Historical Background of the Company

Money Matter Inc. was started by Mr. Prem Pal Sharma in 2002 in Rajasthan. In Rajasthan they work under the name of Money Matter Wealth Advisors Pvt. Ltd. It has its head office in Delhi. It has six branches in Rajasthan. In Punjab, Money Matter Inc. start their services in 5th September 2008. Right now they have four branches in Punjab. For Punjab Region they have their head office in Mohali .

Quick Facts

Incorporated on 5th September 2008. Presence in Punjab and Rajasthan. 6 offices with 60 professionals and 100 Business associates.

Our Locations: Mohali (Punjab) Sri Ganganagar (Rajasthan) AnupGarh (Rajasthan) Suratgarh (Rajasthan) Ramsinghpur (Rajasthan) Ludhiana (Punjab)

Upcoming Branches: Jalandhar (Punjab) NawanShahar (Punjab) Amritsar (Punjab) Panchkula (Haryana)

Incorporated on 5th September 2008. Presence in Punjab and Rajasthan. 6 offices with 60 professionals and 100 Business associates.

Our Locations: Mohali (Punjab) Sri Ganganagar (Rajasthan) AnupGarh (Rajasthan) Suratgarh (Rajasthan) Ramsinghpur (Rajasthan) Ludhiana (Punjab)

Upcoming Branches: Jalandhar (Punjab) NawanShahar (Punjab) Amritsar (Punjab) Panchkula (Haryana)

We create value through focus & discipline…

Vision Enabling Success, Enriching Lives, Spread Smiles

Mission

To create superior value in financial sectors.

• Growth• Acquire and Transform• Improve

Pillars

Values

Right PeopleOrganizational

AlignmentExecution Discipline

Processes

Caring ; Honesty ; Passion ; Team Work ; Disciplined Professionalism

Right PeopleOrganizational

AlignmentExecution Discipline

Processes

Money Matter Inc.Money Matter Inc.

DifferentiatorsDifferentiators

Opportunity in IndiaOpportunity in India

Customer NeedsCustomer Needs

Business ModelBusiness Model

Career & Growth ProspectsCareer & Growth ProspectsCareer & Growth ProspectsCareer & Growth Prospects

Money Matter Inc. - Key Value Differentiation

Great Leadership

–Passionate, Balanced, Disciplined

Customer-centric Business

–Relationship and Product Positioning

Want to be a Leader in having Number of customer & Mass Self-employed segments

India - A Key Market for Money Matter Inc.

• Provides MMI with access to one of the most rapidly growing economies.

• Large under and un-served segments.

• Availability of talent, lower cost technology, and steadily improving infrastructure.

• Foreign Direct Investment inflows expected to double.

• Increasing levels of foreign trade.

• Growing global integration.

Not a Product Program, . . . instead a Customer Program

1. Understand financial needs and key expectations.

2. Evaluating the customer as a whole, not just for a product.

3. Product features are designed for the specific segment.

Focus on Customer, Not Product . . .

Career Progression & Future Opportunities

Management Team

Introduction to Particular Branch

“Money Matter Inc. wants to be the Preferred Partner for all Financial Needs of the Customer”

Objective

Products

This is basically a wealth Management unit deals in all the almost all investment option present in market. They give there services in

Insurance Demat Account Mutual Funds Bonds Share Debenture Corporate FDs & Corporate Loan. Gold

The Companies associated with Branch

In Life Insurance In General Insurance

1) Tata AIG 1) Tata AIG General Insurance

2) Kotak Life Insurance 2) Reliance General Insurance

3) Aviva Life Insurance 3) Bajaj Allianz General Insurance

4) ICICI Prudential 4) Royal Sundram

5) LIC 5) United

6) Bajaj Allianz 6) National

7) Birla Sun Life 7) Oriental

7) HD FC Standard Life 8) New India

8) SBI Life 9) Iffco Tokyo

9) Reliance Life 10) Star Health

10) Star Health

Organization Chart of Training Unit

Departments

There are two departments in Money matter Inc.1)Sales 2) Human ResourceHOD- Mr. Bikramjeet Singh HOD- Ms. Navjeet KaurObjectives of Sales Department:- Objectives of HR Department:-

1

2

3

5 Year Goal

Achieve market share of 5% (top own-branch players) within target segment

Serve a satisfied customer base of ~2 million customers

Be the best employer in financial services industry in India, attracting diverse talent due to its unique business model and wide product range

SWOT Analysis of Money Matter Inc.

Role of the Advisor

Works with you to discover your personal financial objectives.

Assesses your entire financial situation. Designs a customized investment plan . Screens the industry. Works with those providers to implement your

customized investment plan. Monitors the providers and replaces . Provides education and guidance . Celebrates with you when things go well.

Title

Sales improvement strategies of Money Matter Inc. in Ludhiana and Chandigarh

Objectives

Strategies for improving sales

Internal

1. Conventions(Tours)

2. Incentive Programs

3. Reward and Recognition

4. On Roll From Off Roll

5. Training and Development

Contd…..

External

1. Personal Selling

2. Customer Relation

3. Customer Services

4. Roiling Market

5. Catalogs

6. Hoardings

7. Cards and Advertisements

8. BOP

Research Methodology  

Introduction: Research is an academic activity and as such the term should

be used in technical sense. RESEARCH DESIGN: Descriptive research design is used for collecting primary data.

SAMPLING DESIGN

SAMPLING TECHNIQUE

Convenient Sampling technique. UNIVERSE

All the employees working in Money Matter Inc.

POPULATION

All the employees of Money Matter Inc. who are in sales department in Ludhiana city and Chandigarh.

SAMPLING SIZE – 70 employees were respondents.

Method Of Data Collection

PRIMARY DATA

METHOD OF PRIMARY DATA COLLECTION

The method followed in obtaining the primary data was through the structured questionnaire and schedule

SECONDARY DATA

  METHOD OF SECONDARY DATA COLLECTION:

  Journals and Magazines Internet

Data interpretation

Sex No of responses

Percentage

Male 46 66

Female 24 34

Total 70 100

Sex of the employees working in the Money Matter inc.Sex of the employees working in the Money Matter inc.

Table 4.1

Salary No of responses Percentage

< 10000 24 36

10000 - 20000 28 42

20000> 14 22

Total 66 100

Salary of the employees working in Money Matter Inc.Salary of the employees working in Money Matter Inc.

Table 4.2

The time the employee is with the money matter Inc.The time the employee is with the money matter Inc.

36

25

9

0

5

10

15

20

25

30

35

40

0-6 months 6mnyhs-1yr 1 year and above

Graph 4.3Graph 4.3

Experience of the employee with money matter Inc Experience of the employee with money matter Inc

0.214

0.357

0.228

0.142

0.057

0

0.05

0.1

0.15

0.2

0.25

0.3

0.35

0.4

Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied

Satisfaction levelGraph 4.4Graph 4.4

The internal sales strategies are used by company and is known to employeesThe internal sales strategies are used by company and is known to employees

0.235 0.235

0.204

0.104

0.222

0

0.05

0.1

0.15

0.2

0.25

Conventions Incentives Rewards and reognitions

on roll from off roll

training and development

internal strategies known to the employees

Graph 4.5 Graph 4.5

The external sales strategies are used by company and is known to employees The external sales strategies are used by company and is known to employees

0.227

0.187

0.147

0.062 0.066 0.0770.051

0.183

0

0.05

0.1

0.15

0.2

0.25

personal selling

customer relation

customer services

roiling markets

catalogs hoardings cards bop

external strategies known to employee

Graph 4.6Graph 4.6

The effective sales improvement strategies according to the employees The effective sales improvement strategies according to the employees

0.386

0.671

0.357

0.029

0.371

0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0.8

Convention Incentive Rewards & Recognition

On Roll From Off Roll

T & D

Graph 4.7Graph 4.7

The effective sales improvement strategies according to the employeesThe effective sales improvement strategies according to the employees

0.486

0.214 0.2

-0.229-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4

0.5

0.6

Personal Selling Customer relation Customer service roiling market

Graph 4.8Graph 4.8

The effective sales improvement strategies according to the employeesThe effective sales improvement strategies according to the employees

-0.186

-0.257-0.286

0.229

-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3

Catalogs Hoardings Cards & Advertisements

BOP

Table 4.9Table 4.9

Rank according to preferences .which is the most effective sales improvement strategies. Rank according to preferences .which is the most effective sales improvement strategies.

0.1680.179

0.21 0.2160.229

0

0.05

0.1

0.15

0.2

0.25

Conventions Incentive programmes

Reward Personal selling On roll from off roll

Graph 4.10Graph 4.10

The Internal and External Sales Strategies employee Use The Most

Most of the employees think that the BOP is the good strategy . The internal

and external sales strategies that are liked by the employees are the rewards,

conventions, incentives, customer relation, training and development,

customer services. Most of the employees believe in the personal selling so

as to increase the marketing relation with the employees and it increases the

incentives so as to get the money as in the reward. Some of the employees

like to increase the advertisement .

The Internal and External Sales Strategies employee Use The Most

Most of the employees think that the BOP is the good strategy . The internal

and external sales strategies that are liked by the employees are the rewards,

conventions, incentives, customer relation, training and development,

customer services. Most of the employees believe in the personal selling so

as to increase the marketing relation with the employees and it increases the

incentives so as to get the money as in the reward. Some of the employees

like to increase the advertisement .

The sales improvement strategies motivates you mostThe sales improvement strategies motivates you most

45

23

Response

Internal

External

Graph 4.11Graph 4.11

According to employee thinking which is more important According to employee thinking which is more important

0

0.05

0.1

0.15

0.2

0.25

0.3

0.35

Reward Recognition Money Any Other

0.202

0.337 0.337

0.011

meanGraph 4.12Graph 4.12

Facing Any Problem Regarding the Sales ImprovementFacing Any Problem Regarding the Sales Improvement

Graph 4.13 Graph 4.13

Problems Facing By You Regarding the Sales

Improvement Strategies

Most of the employees did not respond but the employees who responds to the

problem says some similar kind of the answers among which the common were that the

targets give by the companies are very high and are very difficult to achieve, moreover

they are saying that the management should do the face to face interaction with the

employees and whenever possible should be in contact with them, some of the

employees think that the improper advertisement is the main drawback for the company

,some employees were not even satisfied and were saying that the pressure is very

much and the management does not support.

Problems Facing By You Regarding the Sales

Improvement Strategies

Most of the employees did not respond but the employees who responds to the

problem says some similar kind of the answers among which the common were that the

targets give by the companies are very high and are very difficult to achieve, moreover

they are saying that the management should do the face to face interaction with the

employees and whenever possible should be in contact with them, some of the

employees think that the improper advertisement is the main drawback for the company

,some employees were not even satisfied and were saying that the pressure is very

much and the management does not support.

Whether the Management Is Doing Good to Increase the Sales Strategies

Whether the Management Is Doing Good to Increase the Sales Strategies

0

5

10

15

20

25

30

35

40

45

50

Yes No

47

23

Graph 4.14 Graph 4.14

Suggestions to Improve the Sales Improvement Strategies

To create awareness among the customers , Proper advertisement and to win the faith

of customer. Awareness of the product. Research and development be effecting more

advertisement of money matters. Improve communication with the employees and the

customers. More concentration on increasing awareness among investors . Reduce

pressure on sales team. Fewer targets should be given to sales team. More men more

money means more persons should be recruited .Less `documents should be demanded.

Focus on increasing awareness. Incentives should be given more.

Suggestions to Improve the Sales Improvement Strategies

To create awareness among the customers , Proper advertisement and to win the faith

of customer. Awareness of the product. Research and development be effecting more

advertisement of money matters. Improve communication with the employees and the

customers. More concentration on increasing awareness among investors . Reduce

pressure on sales team. Fewer targets should be given to sales team. More men more

money means more persons should be recruited .Less `documents should be demanded.

Focus on increasing awareness. Incentives should be given more.

Suggest Any Sales Improvement Strategies

•Advertisement

•Rewards and Recognition

•Awareness among the customer

•Charge less

•Improve marketing strategy

•Time reduction

•Promotion

•Less pressure

Suggest Any Sales Improvement Strategies

•Advertisement

•Rewards and Recognition

•Awareness among the customer

•Charge less

•Improve marketing strategy

•Time reduction

•Promotion

•Less pressure

Limitation Of The Study

1. Respondents can hide the real information.

2. Time.

3. Sample size cannot always represent the whole population.

4. Balance sheet not provided.

5. Personal biases and prejudices of the employees

6.Telephonic conversion almost half of the respondents because of their field work

7. Contacts numbers of the employees were not given

Findings

Employees are not satisfied with the management of the company

Employees wants advertisement so that at the time of the selling the customer should be aware about it

Employees are satisfied with the company growth  

Employees want to request the company so as to lessen the targets given to them as this is very hard to achieve for them

Suggestions

To strengthen the initiatives that are much needed to reach out more public and to improve its existing performance, the following can be done.

Good distribution network

Awareness.

Less pressure on employees

Contd…..

Employees of the Money Matter can also be given more training about Products, as this will help them to explain and guide the customers better.

Motivation, immediate rewards and better incentive packages can also help them to do better.

Advertisement.

Conclusion

The company is growing at very fast stage due to its employees sales force

The sales force of the company is very less which leads to smaller sample size

The company is giving various benefits to its employee As because of the broker company it deals in third party

amalgamation Money matter inc. launches various incentives programmers

as with the combined of the companies dealing with it.

Thank you