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Project Synopsis MBA Mahesh

Apr 16, 2017

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Business

  • A Project Report

    on

    Analysis of Sales Promotion and Advertising

    Strategies of indiabizsource.com

    By

    Mahesh Rawat(Registration No. 1305009925)

    A project report submitted in partial fulfillment of the requirements

    for the degree of Master of Business Administration of

    Sikkim Manipal University, INDIA

    INSOFT, C 2 SECTOR 10, NOIDA 201 301

    CENTRE CODE 1822

    Sikkim Manipal University of health, Medical and technological science Distance

    Education wing

    Syndicate House, Manipal 576104

  • DECLARATION

    I hereby declare that the project report entitled:

    A Project Report on Analysis of Sales Promotion and Advertising

    Strategies of indiabizsource.com submitted in partial fulfillment of the

    requirement for the degree of Masters of Business Administration to

    Sikkim Manipal University, India, is my original work and not submitted

    for the award of any other degree, diploma, fellowship, or any other

    similar title or prizes.

    Place: Noida

    Date: _________

    (Mahesh Rawat)

    Registration No. 1305009925

    https://www.linkedin.com/in/mahesh-rawat-90470461?trk=nav_responsive_tab_profile_pichttps://www.linkedin.com/in/mahesh-rawat-90470461?trk=nav_responsive_tab_profile_pic

  • Certificate

    The project report of Mahesh Rawat (Registration No. 1305009925) A

    Project Report on Analysis of Sales Promotion and Advertising

    Strategies of indiabizsource.com is approved and is acceptable in

    quality and form.

    Internal Examiner External Examiners

    (Mr. _________)

    TABLE OF CONTENTS

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  • S.NO TOPIC PAGE NO.1 EXECUTIVE SUMMARY

    Summary Importance of Sales Promotion and Advertising Strategies

    06 08

    2 INTRODUCTION Introduction of Indiabizsource Business Solutions of Indiabizsource Business Promotion Solutions Indiabizsource Mobile Solutions Web Services Major categories of products being promoted by

    Indiabizsource

    10 34

    3 REVIEW OF LITERATURE What is Sales Promotion & Advertising strategy Characteristics of Sales Promotion and advertising strategy SWOT Analysis

    35 54

    4 OBJECTIVE Objectives

    55 57

    5 RESEARCH METHODOLOGY Competitor Analysis Facebook Comparison SEO Comparison Demographic Analysis

    58 65

    6 CONCLUSION Conclusion

    66

    7 REFRENCES & BIBLIOGRAPHY References & Bibliography

    67

    8 APPENDIX Questionnarie

    68 70

    Executive Summary

  • Summary This project aims at showing the importance of b2b market in today's world. It aims atshowing how this industry functions. There is high number of growth in the b2b industry.With many businesses and entrepreneurs on their way to the market, it shows thecharacteristics of sales promotion and strategy of the b2b company. The b2b companythat has been referred here is indiabizsource. The projects aims at showing its SWOTanalysis, objectives of the company. Apart from this, the projects exhibits the way theresearch methodology is done. This projects was research on the basis of CompetitorAnalysis, Facebook Comparison , SEO Comparison, Demographic Analysis. Theprojects also shows the facts and factors of the importance of b2b portals by the use ofquestionnaire. Below are some of the factors that shows the importance of SalesPromotion and Advertising Strategies .

    Importance of Sales Promotion and Advertising Strategies

    Sales promotion and advertising strategies are the lifeblood of a business without thesethere would be no business in the first place; therefore it is very important that if abusiness wants to succeed, it should have a sales promotion strategy in mind. Theprimary objective of a sales promotion and advertising strategies is to improve acompanys sales by predicting and modifying your target customers purchasing behaviorand patterns. They are very important as they not only helps to boost sales but it alsohelps a business to draw new customers while at the same time retaining older ones.

    A business can promote itself through and effective sale promotion and advertisingstrategies because it says something about work and helps the business to identifythemselves. They can be an inexpensive way of increasing awareness, of reaching newbuyers or extending the buying choices of existing audiences. As an essential part of anypromotional campaign they should be planned from the beginning.

    They can be one of the best tools for retaining customers and increasing your share oftheir wallet. The promotions and advertising can encourage customers to try your productor company, increase their frequency or quantity of purchases, they can help you buildyour database, cross-sell and extend and reinforce your brand.

    There are several reasons explaining this phenomena:

    Increased brand parity and price sensitivity of consumer:

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  • With more brand choices available to the consumer and with the fact that productdifferences are becoming less and less apparent, consumers are becoming more and morereliant to the price and price incentives.

    Decreased brand loyalty:

    Another reason which goes hand in hand in increasing sales promotions budget isdecreased brand loyalty. Consumers are getting used to the fact that almost always atleast one brand category is on sale or on a sales promotional offer.

    Rewards for meeting targets:

    Another reason is coming from the roots of corporate culture and the reward andpromotion strategy within corporations. In the conditions of severe competition, there isincreasing pressure on brand managers to show fast results in terms of increased sales andnothing is as effective in short run as sales promotions to achieve this goal.

    Consumer responsiveness to money saving options:

    Another explanation the change in reactions and responsiveness of customers towardsthese promotions. For example, the results of NCH Consumer Survey indicate that onaverage 80.5 percent of consumers in US used coupons over the period of 1996- 1999.(Shimp 1993).

    Increase in product variant:

    One more reason for increasing sales promotion importance is that many productcategories on the market are in the mature stage and according to the product life cycletheory, sales promotions are extremely effective in maturity stage of the product helpingto boost sales. (Blattberg, Neslin 1990).

    Fight for every inch of market share:

    Finally the reason that is very relevant to highly competitive markets where companiesfind themselves constantly fighting for the smallest piece of market share prisonersdilemma spiral which is very similar to a price war situation. Manufacturers are lockedinto defensive reactive escalation of sale promotional expenditures.

    If one company cuts its sales promotions, it will suffer short-term loss, chances are thatcompetitors will take advantage of that, the company increases its sales promotionalexpenditures short term increase of sales might be very small because competitor reacts.(Blattberg, Neslin 1990).

    Immediate positive impact on sales:

  • Normally a sales promotion leads to a sense of urgency among the customers to make thepurchases immediately as the promotional offers are for a s duration of time. So unlike advertisement, where purchase after seeing the advertisement is a prolong process, sales promotion aids in getting an immediate positive impact on the sales of any organisation. So if the promotion is well planned, measuring the impact is also very easy.

    Shoppers want to be Smart-Shoppers:

    Shoppers have learnt pretty well that they are supposed to be smart and make their purchases exactly as and when they have the best offers being given by the retailers and manufacturers. They have learnt overtime that brands with promo offers need not necessarily be of bad quality.

    Advertisements getting more costly:

    Today advertising in any media has become very expensive. Among the most costlier are the audio visual ones which are considered to be the most effective ones. There are many firms who are not been able to afford the high pieces and hence are resorting to sales promotions which otherwise they are finding more effective. Also the customers are also not very happy with the advertisement clutter which hampers their normal viewing of anyprogram. And as discussed earlier, the zipping and zapping cause a major loss of communication through advertisement.

    The increase in power of trade:

    Today with the retail boom, distributors and retailers are more powerful and they are actually dictating certain terms with the manufacturers. The shelf space since limited in the retail outlets, is creating a lot of competition among the manufacturers for that space. Everybody wants prime space, especially during new product introduction. This gives a chance to the retailers to play around with the manufacturers.

    Impulse purchase is on an increase:

    Consumer behavior has changed drastically. Purchases are more impulsive today than ever. This facilitates the success of the sales promotion.

    Create inte