Published on Sep 16, 2019
Marketing channels for refers to an organized network of inter connected organization and agencies involve in the process of making the product or services available to customers. They are the intermediaries and also known as the middleman. Producers of services also need to think about the channels of distribution, which can make their services available to the customers.
They distribution of services is a critical task due to their intangibility, perish, inseparability, etc. Therefore mostly the direct channel i.e. zero level is used in this case the provider directly sales his services to customers. However some service provider makes take help of the agents who can provide information of the customers, book the order and collect the payment on behalf of the service providers. In any casa channel length does not exceed one level. Some big and reputed service provider train the individuals to perform service and franchise their services e.g. Employment agencies, travel agencies etc.
India is not recognized as a first emerging market for a insurance. The Indian insurance is accepted to be $25 billion in 2010 on an assumption of 9.7 % real growth in the GDP. With the passing or IRDA act in 2000 the insurance market in India has been open to privet sector. As a result as many as 34 insurance companies entered the market; in collaboration with foreign companies by end of 2002-2003 the market has now become highly competitive and challenging.
In spite of significant growth in telecommunication sector in the recent past, the teledensity in India was abysmally low compared to other countries the teledensity in India was only 1.89 by the end of 2002. Telecommunication has tremendous growth potential. The rapid growth in cellular, radio paging, value added services, internet and global mobile communication by satellite services, besides basic telephone services, is an indicator of the bright future of sector.
• To approach the people for becoming a financial advisor.
• To study about the potential customer in the market.
• To hire the new financial advisor for the company so that the business of the company should grow faster.
• To study about the marketing strategy of company.
The scope of project was all about recruiting the financial advisors for the company on commission basis. I was suppose to generate the leads then meet those people, telling them the concept of financial advisor and convincing them to join the company and finally get the undertaking forms filled and thus closing the leads.
In random sampling methods, the sample units are selected at random. Random sampling follows a precisely specified system where there is no scope for biased selection of sample unit's take place by sheer chance of being selected. Data is collected from each and every unit in the population; it is termed as census survey.
To overall census population of questionnaire survey hence proper sampling design is done so that particular sample represents that census. Findings
• To register for being Financial advisor applicants need to pay a sum of Rs.1000/- some people find it difficult to pay at single time. Especially, the student who are non-residents in Aurangabad . Therefore ICICI Prudential can have installment facility for such people so that they can pay in lots.
• After registration the candidates are provided with training of 100Hrs. they can opt for either classroom training or Internet training as per their convenience. The company sponsors the classrooms training. Whereas. Foe Internet Training candidate need to pay themselves. Here the company can sponsor these students also to create a favorable image in the minds of candidate undergoing the Internet training.
• The company can grab more and more customers. If it has image of first choice employer in the mind of Financial Advisor. It can create such image by providing additional facilities and assistance to Financial Advisor.
• The company can go for outsourcing its business, to take proper care of its exiting customer and obtain new prospect to expand its business.