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: Resp. Ms. SONIA GAMBHIR

Submitted By: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 Maam! And one person, without his help and continuing support I cant 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
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This is the final evaluation report for our SIP. The summer internship program (SIP) commenced from the 18th of May 2011 and will formally close on the 22th of Aug 2011. The duration 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 interns working. And Im also putting these all things in this report.

index
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Introduction ................................................5 Objective ....................................................6 Company Profile .........................................8 Environment ...............................................13 Vision .........................................................17 Mission .......................................................20 Targets 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

INTRODUCTION
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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 a subcategory 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 peoples 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.

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) is to gain the practical knowledge of the prevailing market
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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.

History of M.solutions company

About MLISL Group:

MONEYLINE INVESTMENT SOLUTIONS LIMITED. M SOLUTIONS. OM SAI OM ASSOCIATES. KANNALITE FACILITY MANAGEMENT SERVICES PVT. Ltd

Presence in India
division

Indias 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 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.

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Strong presence in financial vertical:

Life Insurance 1st Brokers

Limited life insurance distribution

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 Aditya Birla Money Ltd PMS Services individual (HNI) Since 2007 with personalized wealth

managers operating in India catering financial companies and Strong player in broking

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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 Msolutions 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
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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.

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THE INVIRONMENT
Competition has a significant impact on the marketing environment. In this phase we discuss about the business environment 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

Human Resource This is the important factor among the other factors. As the selling product is same thats why Human resource is playing the vital role. It includes the executives as well as the sales people.
o

Company Location this is also vital factor of internal Environment .In Dehradun m-solution is located by the side of Rajpur road which is the midpoint of the city. It will help the firm to capitalize the market very easily.
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Financial Capability m-solution is the subsidiary of Aditya Birla money, so financial capability of the company is very high and in contingency time it can get support from its mother concern.
o

Company Image m-solution is one of the biggest in the 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.
o

Now we will see the external environment that can effect the M-solutions, they are mainly two types i.e.

Micro Environment In the Micro Environment there are main two factors,
o

They are as follows:

Distributors There are some national distributors like Share khan, Tata AIG etc there are near about 150 IFAs who distribute and control the selling of m-solution Mutual funds throughout Uttarakhand.

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Customer The customer base of M-solutions in Uttarakhand are the service class, the business class as well as the corporate houses of UK.

Macro Environment The Macro Environment is basically effect the company most but indirectly , they are as 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.
o

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Vision
M.Solutions continues to pursue its 21st century vision of becoming a worldwide leader in financeensuring customer satisfaction through innovative products and superior service while aiming to rank among the worlds 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 weve identified as our three core capabilities: Product Leadership, Market Leadership, and People Leadershipeach strength a key part of realizing our growth strategies for fast innovation and fast growth.

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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

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Mission
The mission of M.Solutions is to provide the customers with utmost satisfaction through leadership.
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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. 2.
3.

New Services Insurance 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
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Fair Transaction :
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Equal Opportunity

Fair Transaction Procedure Support and Aid for Business Partners

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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

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TARGETS 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

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feature of the company, as this company is new one in the market. We have to first understand the products of the company well and then go into the market. We have to keep the full knowledge of the company as well as the products.
Serial Number 1 Months Ist Month Target Assigned 100000 Product Insurance product of Bajaj Allianz Insurance product of Bajaj Allianz Insurance product of Bajaj Allianz Task Meet the customer Fix meeting one customer every day Pitch policy to the customer

IInd Month

100000

IIIrd Month

100000

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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.
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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 customers 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 two customers will never match. So it not feasible for the
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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 should have 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 personal selling process in which the sales person makes the
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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.

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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 1 Months 18th of may to 18th of June 18th of June to 18th of July 18th of July to 18th of Aug. Target Assigned 10,000 Target Achieved Nil Remarks Market Research Market Research 10,000 policy

10,000

Nil

10,000

Achieved (5th of Aug.)

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 months which was a big achievement fog me.
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ANALYSIS OF PERFORMANCE Vs 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 sometimes I 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 were qualitative 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.

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REASONS FOR VARIANCE

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There were sum main reasons for the variance in target achievements. These were:o o o o o o Lack of proper knowledge. Lack of the corporate experience. Deviation from the main target. Unsupportive nature of the employees. Lack of motivation. Time constraints.

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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.
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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 be the 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

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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.
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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 the national per capita income then here m-solution can get more investment from the customers. The threat will be:

The new Finance company, Insurance Company and share trading company are giving a cut throat competition to the M-solutions, so it must carefully handle the customers.

Market fluctuation It cant be handled by the firm so M-solutions must suggest its customers to invest the money for long term which minimize the risk of sinking of any funds.

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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
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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 is the 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.

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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.

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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.

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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 wasnt 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.

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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 join the 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 refine his 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.

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BIBLIOGRAPHY
List of Books and Articles:

Mallette Paul, Doing the Right Thing: Bank ones Response to the Mutual Fund Scandal, Colorado State University Basic of Mutual Fund. Marketing Management, ICFAI Press Business Research Methods ICFAI Pres. Business Economics, Business Today, Business World, Outlook Money.

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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

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