Simran Project-1.docx

INTRODUCTION

Marketing is not advertising. Marketing is finding out what people want, why they want it and how much they’ll spend. Don't confuse marketing with advertising. Advertising is the promotion of a service or product or company. It features a strong call to action and promotes the benefits of that being advertised. Sales is sales! It's converting an inquiry or lead into a contract or shipment. Sales is not market research, business development or advertising. Sales are activities related to selling or the number of goods or services sold in a given time period. The seller or the provider of the goods or services complete a sale in response to an acquisition, appropriation,]requisition or a direct interaction with the buyer at the point of sale. There is a passing of title (property or ownership) of the item, and the settlement of a price, in which agreement is reached on a price for which transfer of ownership of the item will occur. e seller, not the purchaser generally executes the sale and it may be completed prior to the obligation of payment. In the case of indirect interaction, a person who sells goods or service on behalf of the owner is known as salesman or saleswoman or salesperson, but this often refers to someone selling goods in a store/shop, in which case other terms are also common, including salesclerk, shop assistant, and retail clerk.

In common law countries, sales are

governed generally by the common law and commercial codes. In the United States, the laws governing sales of goods are somewhat uniform to the extent that most jurisdictions have adopted Article 2 of the Uniform Commercial Code, albeit with some non-uniform variations. A person or organization expressing an interest in acquiring the offered item of value is referred to as a potential buyer, prospective customer or prospect. Buying and selling are understood to be two sides of the same "coin" or transaction. Both seller and buyer engage in a process of negotiation to consummate the exchange of values. The exchange, or selling, process has implied rules and identifiable stages. It is implied that the selling process will proceed fairly and ethically so that the parties end up nearly equally rewarded. The stages of selling, and buying, involve getting acquainted, assessing each party's need for the other's item of value, and 1

determining if the values to be exchanged are equivalent or nearly so, or, in buyer's terms, "worth the price". Sometimes, sellers have to use their own experiences when selling products with appropriate discounts. From a management viewpoint it is thought of as a part of marketing, although the skills required are different. Sales often form a separate grouping in a corporate structure, employing separate specialist operatives known as salespersons. Selling is considered by many to be a sort of persuading "art". Contrary to popular belief, the methodological approach of selling refers to a systematic process of repetitive and measurable milestones, by which a salesman relates his or her offering of a product or service in return enabling the buyer to achieve their goal in an economic way.According to a 2018 survey of salespeople, selling has become more difficult in recent years due to changes in technology and general access to prospects. While the sales processrefers to a systematic process of repetitive and measurable milestones, the definition of the selling is somewhat ambiguous due to the close nature of advertising, promotion, public relations, and direct marketing.

CHARATERSTIC OF SALES:

1. Successful Salespeople Are Upbeat: Hearing negative responses on a regular basis can be extremely disheartening. Unfortunately there’s no way around this in sales. But for successful people, Successful salespeople are those who have emerged strong out of the most difficult of situations. They face them with a positive attitude; learning from them and always seeing light at the end of the tunnel.

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2. Successful Salespeople Are Passionate: Passion is not just working towards meeting a specific quota for a successful salesperson. Truly passionate salespeople are those who work towards higher goals like excellence and building long lasting relationships. The best salespeople are passionate about making a change in people’s lives and work towards it every single day. They know that every part of the sales process is important and do not make the mistake of not taking closing seriously. They are passionate about growing in their careers, making sure they always give their A game.

3. Successful Salespeople Are Ingenious: The most successful salespeople are creative and think about unique ways to solve problems for their clients. They come up with novel ideas when most people form the same conclusions. Top performing salespeople have the ability to look at things differently. Their brilliant analytical skills enable them to offer different solutions that others normally don’t see. They are resourceful and make the best out of what they have.

4. Successful Salespeople Are Empathetic: Empathy and compassion are prerequisites to great customer service. Empathetic salespeople listen intently to what actually affects people and provide them the complete liberty to express their concerns. They try to understand people by putting themselves in other’s shoes from a neutral perspective, without letting judgment or an ulterior motive guide them. This helps them understand people better and interact accordingly.

5. Successful Salespeople Take Accountability For Their Own Actions: Highly effective salespeople know how to take full responsibility for their own actions and do not blame other people or external influences that can affect results.

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They take complete ownership over their work and ways to do it and do it with full dignity and respect. They hold nobody but themselves accountable for whatever results may arise, both positive and negative.

6. Successful Salespeople Are Well Prepared: Impressing clients and making them buy a product is no cake walk. It requires a tremendous amount of research, confidence and flawless execution of pitches. Effective team members use all their resources and time to find out what exactly they are going to pitch to different clients and tailor their presentations accordingly. They do NOT go on and on about products and services, but offer something of value through a conversational approach, which is jargon free. 7. Successful Salespeople Are Updated On Latest Trends & Technology In Their Niche: The most successful salespeople are always ahead of the game for a reason – they invest their time in educating themselves. Winning salespeople keep themselves updated on market trends, products and competition. They also use all kinds of sales tools to participate in professional development and stay motivated. They keep a variety of tools handy that can help them learn about things that help them perform better.

8. Successful Salespeople Are Highly Engaged: Highly successful salespeople are engaged and love being a part of the organization they represent. They love their job and the people they work with. Because they believe in the product and feel motivated, they sell with the utmost conviction. On the contrary, their organization also invests in them, which helps them retain these superstars. They participate actively in assessments, surveys and training programs, look up to their leaders and reap the benefits of the resources available to them.

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9. Successful Salespeople Are Goal Oriented: The ability to set (and stick to) personal and professional goals is definitely a common characteristic of the most successful salespeople. Top sales pros know exactly what they want to accomplish (and by when) so they will plan around these targets accordingly. This requires focus and setting ambitious, but achievable goals. As a result, the salesperson must be extremely persistent and hardworking. Successful salespeople get goals that help them grow as an individual and as a professional. They have long term goals which require patience and practice.

10. Successful Salespeople Are Relationship Seekers: The most effective salespeople know how to deal with a variety of clients, and being versatile with each type. There will undoubtedly be wins and losses. However, the most successful salespeople never say goodbye to clients. They reach out to the ones who have said no in the past, and they are also available to assist those they have sold to. Top salespeople know the importance of building trust and customer satisfaction, which is why they do their are your best connection to clients and prospects. They always follow up and maintain relationships with their charm, knowledge and personality.

IMPORTANCE OF SALES:

1. Blood circulation of a human body keeps a man alive and in sound health. Similarly the sales strengthen the organisation. The more is the sales, the more is the profit. 2. Increasing sales means progress of the firm. If the sales fall down, it is fatal, because sales are the life blood of the business, as the blood is to a human body.

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3. Consumers are the kings. Manufacturers produce goods for consumers. They must be satisfied in the market which is full of competitors with products for similar use. So suitable products are necessary, and for this an organisation is necessary. 4. To move the products from the factory to the consumers, the sales organization is necessary— demand creation. 5. To handle the orders promptly i.e., from the stages of enquiry to order at full satisfaction to consumers. 6. Collection of dues is also important. Several drops make an ocean; at the same time milking cows should not be neglected. 7. To keep good public relations by redressing the complaints if any, and to create a good image of the firm.

DIFFRANCE BETWEEN MARKETING AND SALES:

Marketing is…

1) Marketing is one to many. 2) Marketing tells the stories (company, product, etc.) to many people. 3) Marketing looks after the brand’s reputation 4) Marketing needs to keep the stories circulating and resonating with the target markets using the company’s plumb line (the business of the business) as its central reference. 5) Marketing analyses the big data. Marketing brings you the average result not the specifics.

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6) Marketing studies what experience customers expect when they buy or try a product, service or solution. That means reading their digital footprint and understanding their online chatter as much as it does focus group discussions. Marketing looks for new metrics about consumer clusters and grouping. Online groups are markets of the near future as more and more people cocoon themselves and shop less. 7) Marketing should not promote special prices and discounts, instead replace these with special offers, focusing on delivering greater value – more bang for the buck is the new mantra and greater value with fair exchange is the principle of pricing today – not cost plus as it has been in the past.

Sales is…

1) Sales is about one to one. 2) Sales is where our business becomes real for the client. It is where the stories and brand come to life. 3) Sales develops relationships. It’s relationship-driven. 4) Sales looks after individuals. 5) Sales deals with the ambiguities and the details of each person. It cannot be averaged. 6) Sales analyses the behavior of the prospects and customers whom they deal with on an individual basis. Sales professionals talk to their customers about the joys of risk free offerings that help them realise their goals and objectives. They tap into their buyers’ Facebook, LinkedIn

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and other digital pages to gain a deeper understanding of what experiences each individual customers want. 7) Sales moves away from discussing price and discount, instead replacing these with discussions about total cost of ownership which includes price but extends to include deliveries, warranties, support, training and the other contributing things that are delivered as part of the purchase. Sales engages with customers to understand what risks they face when making a purchase and then learns how to position their companies as risk free alternatives. The one thing sales and marketing must share in common is the company’s ‘plumb line’ and its stories.

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INDUSTRY PROFILE

Medical devices are defined by the US Food and Drug Administration (FDA) as any object or component used in diagnosis, treatment, prevention, or cure of medical conditions or diseases, or affects body structure or function through means other than chemical or metabolic reaction in humans or animals.[1] This includes all medical tools, excluding drugs, ranging from tongue depressors to Computerized Axial Tomography (CAT) scanners to radiology treatments. Because of the wide variety of equipment classified as medical devices, the FDA has no single standard to which a specific device must be manufactured; instead they have created an encompassing guide that all manufacturers must follow. Manufacturers are required to develop comprehensive procedures within the FDA framework in order to produce a specific device to approved safety standards. Devices are classified into three brackets: Class I: General Controls; Class II: General Controls and Special Controls; Class III: General Controls and Premarket Approval. Regulations differ by class based on their complexity or the potential hazards in the event of malfunction. Class I devices are the least likely to cause major bodily harm or death in the event of failure, and are subjected to less stringent regulations than are devices categorized as Class II or Class III.

There are several basic types: 

Diagnostic equipment includes medical imaging machines, used to aid in diagnosis.



Examples are ultra soundand MRI machines, PET and CT scanners, and x-ray machines.



Treatment equipment includes infusion pumps, medical lasers and LASIK surgical machines.



Life support equipment is used to maintain a patient's bodily function. This includes medical ventilators, incubators, anaesthetic

machines, heart-lung machines, ECMO,

and dialysis

machines. 

Medical monitors allow medical staff to measure a patient's medical state. Monitors may measure patient vital signs and other parameters including ECG, EEG, and blood pressure.



Medical laboratory equipment automates or helps analyze blood, urine, genes, and dissolved gases in the blood. 9



Diagnostic Medical Equipment may also be used in the home for certain purposes, e.g. for the control of diabetes mellitus



Therapeutic: physical therapy machines like continuous passive range of motion (CPM) machines

A biomedical equipment technician (BMET) is a vital component of the healthcare delivery system. Employed primarily by hospitals, BMETs are the people responsible for maintaining a facility's medical equipment. BMET mainly act as an interface between doctor and equipment. A medical device is any apparatus, appliance, software, material, or other article—whether used alone or in combination, including the software intended by its manufacturer to be used specifically for diagnostic and/or therapeutic purposes and necessary for its proper application— intended by the manufacturer to be used for human beings for the purpose of: 

Diagnosis, prevention, monitoring, treatment, or alleviation of disease;



Diagnosis, monitoring, treatment, alleviation, or compensation for an injury or handicap;



Investigation, replacement, or modification of the anatomy or of a physiological process;



Control of conception; and which does not achieve its principal intended action in or on the human body by pharmacological, immunological, or metabolic means, but which may be assisted in its function by such means

Medical devices vary according to their intended use and indications. Examples range from simple devices such as tongue depressors, medical thermometers, and disposable gloves to advanced devices such as computers which assist in the conduct of medical testing, implants, and prostheses. Items as intricate as housings for cochlear implants are manufactured through the deep drawn and shallow drawn manufacturing processes. The design of medical devices constitutes a major segment of the field of biomedical engineering.

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COMPANY PROFILE

Fortune Meditech (india) Private Limited is a Private incorporated on 10 April 2000. It is classified as Non-govt company and is registered at Registrar of Companies, Delhi. Its authorized share capital is Rs. 4,000,000 and its paid up capital is Rs. 3,967,000.It is inolved in Other computer related activities [for example maintenance of websites of other firms/ creation of multimedia presentations for other firms etc.] Fortune Meditech (india) Private Limited's Annual General Meeting (AGM) was last held on 30 September 2017 and as per records from Ministry of Corporate Affairs (MCA), its balance sheet was last filed on 31 March 2017. Directors of Fortune Meditech (india) Private Limited are Vivek Bhanot and Rajesh Kumar.

Fortune Meditech (india) Private Limited's Corporate Identification Number is (CIN) U72900DL2000PTC105143 and its registration number is 105143.Its Email address is [email protected] and its registered address is 31, First FLOOR, CSC NO. 2 CBLOCK, YOJANA VIHAR DELHI DL 110092 IN , - , .

Company Details CIN

U72900DL2000PTC105143

Company

FORTUNE

Name

LIMITED

Company

Active

MEDITECH

(INDIA)

Status

11

PRIVATE

CIN

U72900DL2000PTC105143

RoC

RoC-Delhi

Registration

105143

Number Company

Company limited by Shares

Category Company Sub

Non-govt company

Category Class

of Private

Company Date

of

10 April 2000

of

18 years, 6 month, 11 days

Incorporation Age Company Activity

Other computer related activities [for example maintenance of websites of other firms/ creation of multimedia presentations for other firms etc.] Click here to see other companies involved in same activity.

Number

of

-

Members

12

Meditech (India)have started our journey to crafting OT Room Equipment such as Operation Table and Operation Light since 1996. Meditech (India)is an ISO 9001:2015, EN ISO 13485:2012, OHSAS 18001:2007 and CE Certified Company. At Meditech, we have a team of over 50 personnel's with over 10 service engineers to give our customers 100 % satisfaction both pre sale and post sale. We do projects on all India & abroad basis as well with most of the customer giving us repeat orders. We have been selling more than 24 countries in the world and looking forward to reach every corner of world. In working with the product supply chain we have developed our distributors in every corner of the globe. This is being supported by well-built logistic team to ensure on time delivery.

Our business policy is to provide our customers with the best quality, price, delivery time , pre sale and post sale service which enable our customer to promote their business further.

Quality

As an ISO 9001 & ISO 13485 Certified Company, we possess a well managed quality management system. All our product range is marked with CE MARK, that is meant for safe operations and excellent operations. We fulfill all the required standards and are providing a quality range to our clients. We have a dedicated quality assurance department headed by a team of quality control experts to ensure flawless delivery of products. Further, the company is fully determined towards supplying of brilliance quality products. To ensure the requisite quality standard, there is a dedicated quality assurance department. In addition to this, a team of quality control experts check each product to ensure utmost efficiency before delivery.

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Our Products

Our product range comprises of a wide assortment of medical and surgical equipment. These equipment are manufactured in accordance with the regulations and guidelines issued for surgical products by various concerned authorities. This equipment are ergonomically designed and are easy in operation and maintenance. The product range includes: 

Operation Table



LED Surgical Light



Halogen Operation Light



Examination Light



Hospital Furniture



Suction Machine



Neuro Attachment



Hanging Orthopedic Attachment



Orthopedic Attachment

Infrastructure

Our facility is fully equipped with all the advanced machines that completely assists us in completing all the required responsibilities, which includes material sourcing, marketing and distribution, exporting, importing business networking and many more. Different sections are dedicated to storage, packaging and quality testing. The facility helps us in fulfilling all the required responsibilities and executing the business in timely manner.

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Vision

By optimizing and enhancing our commenced capabilities, we visioned to be recognized as one of the most entrusted organization in the related industry sector. Mission

We are always try to cater the exact requirements with all our product range and ensure to exceed the expectations of our clients. We also try to win praise from our buyers for supplying a qualitative range. Worldwide Patronage

Being a client centric company, Meditech India supplies a qualitative range of medical and surgical equipment to a vast clientele spreading worldwide. This in turn helps us in gaining a global patronage. In working with the product supply chain we have developed our distributors in every corner of the globe. This is being supported by well-built logistic team to ensure on time delivery. Medical Equipment Medical equipment (also known as armamentarium) is designed to aid in the diagnosis, monitoring or treatment of medical conditions.

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Types  There are several basic types: 

Diagnostic equipment includes medical imaging machines, used to aid in diagnosis. Examples

are ultrasoundand MRI machines, PET and CT scanners, and x-ray machines. 

Treatment equipment includes infusion pumps, medical lasers and LASIK surgical machines.



Life support equipment is used to maintain a patient's bodily function. This includes medical ventilators, incubators, anaesthetic

machines, heart-lung machines, ECMO,

and dialysis

machines. 

Medical monitors allow medical staff to measure a patient's medical state. Monitors may measure patient vital signs and other parameters including ECG, EEG, and blood pressure.



Medical laboratory equipment automates or helps analyze blood, urine, genes, and dissolved gases in the blood.



Diagnostic Medical Equipment may also be used in the home for certain purposes, e.g. for the control of diabetes mellitus



Therapeutic: physical therapy machines like continuous passive range of motion (CPM) machines.



A biomedical equipment technician (BMET) is a vital component of the healthcare delivery system. Employed primarily by hospitals, BMETs are the people responsible for maintaining a facility's medical equipment. BMET mainly act as an interface between doctor and equipment.

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LITERATURE REVIEW

It is not enough to have great qualities; we should also have the abilities to manage them The same concept can also be applied in an organization. For example, a company may produce a very high quality products but it won’t be able to succeed if it fails to manage or satisfy their customers. According to Harvard Business Review ―an exceptionally satisfied customer is 6 times more likely to buy again as one who is merely satisfied & only 5% increase in customer loyalty can boost profit from 25% to 85%. Thus all these quotes & experts opinion highlights the importance of Customer Relationship Management. Customers are considered to be king of every business enterprise and loyal customers are the backbone of their business. So customer satisfaction is the primary motive of every business which can be attained through effective CRM (Customer Relationship Management).

Meaning of Customer Relationship Management (CRM):

CRM is a comprehensive strategy & process of acquiring & retaining customers to create superior value for the company as well as the customers. It consists of the processes a company uses to track and organize its contacts with its current and prospective customers. It involves the use of technology in attracting new and profitable customers, while forming tighter bonds with existing ones. To support these processes, various CRM softwares like SAP, ORACLE etc. are used. These softwares record and store information about customers, various customer interactions, their problems etc which can be accessed by employees in different departments of the company. This information is used by the organization to make future plans that can satisfy the customer on a better way and retaining them for a longer period. However, CRM is not a technology itself, but rather a holistic approach to an organization’s philosophy, placing the emphasis firmly on the customer. When managing the transition to a customer-centric organization, it is mandatory to develop the capabilities to acquire the necessary resources, knowledge, and tools to meet customer’s requirements with the appropriate products and services. For organizations, today, decisions on 19

technology choice, keeping customers in mind, have become important and have long term consequences. Technology acts as a major factor in attaining a competitive edge over competitors. Regardless of the technology platform selected by a firm, modern integrated CRM systems typically combine various information sources: account plans, the company’s marketing programs, and competitive and market information. CRM systems also have multiple users, those for whom the database provides continuous value in helping to formulate selling and buying strategies. These users include the sales team, third party suppliers (including service organizations, component and sub-assembly providers), corporate managers and customers. As far as shopping at retail outlets are concerned, consumers have considerable choice in selecting a retail outlet. While buying a product from a retail store, customers take into account the price of the product and service provided at the outlet. The first factor isrelatively easy and simple to control but customer service is probably the most important and the hardest to provide. These two factors/objectives can be attained through technology called Customer Relationship Management (CRM) Systems. Customer relationship management (CRM) system covers methods and technologies used by companies to manage their relationships with clients. Information stored on existing customers (and potential customers) is analyzed and used to achieve desired objectives. Automated CRM processes are often used to generate automatic personalized marketing, based on the customer information stored inthe system. Retail industry in India is at the crossroads. It has emerged as one of the most dynamic and fast paced industries with several players entering the market. But because of the heavy initial investments required, break even is difficult to achieve and many of these players have not tasted success so far. India's vast middle class, at the same time, is key attractions for global retail giants wanting to enter Indian markets. CRM systems, therefore, becomes sine-qua-non for each organized retail chain. Critics, however, have observed that the implementation of a CRM solution is not sufficient to create a true learning organization. Rather, organizations need to think across organizational functions to truly benefit from CRM. This requires thinking across departmental boundaries in order to concentrate on adding value to the customer. There is the need for marketing to act as an 20

integrating function in coordinating the organization’s interaction with the customer. If properly implemented, the organization’s CRM system is uniquely well positioned as a knowledge management tool, able to serve as the value creating interface between the firm’s functional units and its customers.

So why do sales people need CRM?

Without fear of oversimplifying, the biggest challenges that sales people face are 1) how to qualify and follow up on leads and 2) how to prioritize sales activities. However, CRM is a tool that not only solves those key problems. In fact, it is able to handle other, no less pressing issues. 1. Enjoy a safe storage space CRM helps sales people to safely and centrally store their contacts, sales opportunities, activities and scheduled plans in one place, and have uninterrupted access to the database from multiple locations. Rest assured that your data won’t just get lost. 2. Plan and time-manage like a pro CRM helps sales people to optimize their daily schedules and prioritize tasks to make sure customers are not ignored and the key prospects are contacted on time. In fact, CRM allows sales people to spend more time with customers, which leads to more deals closed and a stronger customer base. 3. Activity reports? – No brainer! CRM helps sales people to easily prepare their weekly or monthly reports for management. The process is automated and transparent, and takes just a few clicks to inform others about what sales are currently in progress.

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4. Stop surfing, start targeting CRM helps sales people to segment data and identify valuable opportunities via criteria based selections. This prevents you from hours of cutting and pasting from various documents, or surfing in the disorganized lists of data. 5. Stay up-to-date on what’s happening CRM offers shared calendars, document , uniting all team members and keeping everyone up-todate. sharing selling patterns and processes allows sales people to see what works best. CRM also increases communication between the sales force and sales management. 6. Show up in time for the new sale By tracking all communication with the customers, CRM helps sales people to know exactly when customers need to be contacted; for example, for product replacement, contract renewal, or for an upsell to a new product or service. This all increases your chances of closing a sale. 7. Rationalize your sales moves CRM helps streamline the entire sales cycle, which results in closing deals in your sales pipeline and helping everyone in the team to reach targets faster. Since order processing and preparing quotes is automated in CRM, sales teams are able to reduce production costs and increase sales revenue. 8. Know what your customers really want Since all the customer-related data is stored in CRM, it helps sales people to analyze the needs of customers and even anticipate their problems – all at the right time. All this increases customer satisfaction and ensures loyalty, as well as higher profit margins. 9. Cut down on admin tasks CRM releases the sales teams from the majority of admin tasks by reducing and even removing some of the repetitive actions that take a lot of time, but yield little profitability. CRM stores product and price details, triggers reminders for activities, and takes sales people through the sales pipeline step by step.

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10. Save money Even though CRM systems are not cheap, they actually help you save your money!With sales people, it is the reduction of errors (for example, in orders or quotes) that CRM can help with. Effort and cost related to correcting those errors may be much higher. Finally, it also boils down to such trivial things as saving money on those cluttering and often vanishing Post-it notes, since every new information can be safely stored in the system.

Conclusion

In a nutshell, sales people and CRM is not an immediate “match made in heaven”, but the more time these two spend together – the stronger the attraction between them becomes. If adopted and used correctly, CRM is going to boost the performance of any sales team, and will help sales people to excel in 4 areas that are critical for them: 

better search, sort and qualify leads;



follow up on sales opportunities systematically and on time;



prioritize and rationalize follow up activities; and



increase target reach rates faster.

The improvements that CRM brings, however, don’t come without effort, understanding and determination from the sales people’s side. Sales reps have to unanimously understand that updating CRM is central to their success. Also, sales teams need to synchronize their activities and base them on best practices. This will enable a better sharing of information and will secure more effective work with CRM. More so, sales teams should embrace the idea that by registering all activities and following the established sales routines they are more likely to reach their sales goals. It is also important to 23

realize that sales people are going to benefit a lot by being able to update and share the newest information on prospects and customers – all in one place that is easy to access.

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RESEARCH METHODOLOGY

Research methodology is the systematic method/process dealing with identifying problem, collecting of facts or data, analyzing these data and reaching at certain conclusion either in the form of solutions towards the problem concerned or certain generalization for some theoretical formulation. It also comprises of a number of alternative approaches and interrelated and frequently overlapping procedures and practices. Since there are many aspects of research methodology, the line of action is to be chosen Research methodology is the systematic method/process dealing with identifying problem, collecting of from a variety of alternatives. The choice of suiTable method can be arrived at through assessment of objectives and comparison of various alternatives. Methodology is defined as “the systematic study of methods that are, can be, or have been applied within a discipline” or “a particular procedure or set of procedures” (Meuter et al., 2000). Methodology includes the following concepts as they relate to a particular discipline or field of inquiry: “a collection of theories, concepts or ideas; comsparative study of different approaches; and critique of the individual methods” (MerriamWebster's Online Dictionary). There exist three sets of approaches to research methodology (Wikipedia) which are:

Quantitative Approach is one which the investigator primarily uses for developing knowledge (i.e. cause and effect thinking, reduction to specific variables and hypotheses and questions, use of measurement and observation, and the test of theories), employs strategies of inquiry such as experiments and surveys and collects data on predetermined instruments that yield statistical data.

Qualitative Approach is one in which the inquirer often makes knowledge claims primarily on constructivist perspectives (i.e. the multiple meanings of individual experiences, socially and historically

constructed,

with

an

intent

of 25

developing

a

theory

or

pattern)

or

advocacy/participatory perspectives (i.e. political, issue-oriented, collaborative or change oriented) or both. It also uses strategies of inquiry such as narratives, phenomenologist, Ethnographies, grounded theory studies or case studies. The researcher collects open-ended 77 and emerging data with the primary intent of developing themes from the data or for the concept building.

Mixed Method Approach is one in which the researcher tends to base knowledge claims on pragmatic grounds (e.g. consequence-oriented and problem-centered). It employs strategies of inquiry that involves collecting data either simultaneously or sequentially to best understand research problems. The data collection also involves gathering both numeric information (e.g. on questionnaire) as well as text information (e.g. on interviews) so that the final database represents both quantitative and qualitative information. There is not a single methodology which is right and suiTable for every type of research, all depends on the topic, on the type of data one wants to collect, on the time one wants to spend on it (Creswell, 2002). The most essential thing is to use a method that brings forth the data you need in order to carry out an appropriate project. The present study is a mixed method approach but there is more use of quantitative approach.

Research Design / Process A research process is required to perform tasks such as identifying the problem area, exploring previous literature, making a case study research, gathering data and synthesizing them as well as analyzing those data and presenting them. It necessitates “planning, control and continuous monitoring and evaluation” (Coombes, 2001). As regards the methodology, there is not a right research process for all types of studies, it depends always on what you intend to derive at the end of the studies. A research design is a simple framework or plan for a study that is used as guide in collecting and analyzing the data in an economic, efficient and relevant manner. Research can be exploratory or Descriptive. The primary purpose of exploratory research is to provide insights into, and an understanding of the problem confronting the researcher. This research is used when the problem needs to be defined more 26

precisely, relevant course of action is to be identified while the Descriptive research is typically more formal and structured than exploratory research. It is based on large, representative samples and the data obtained are subjected to quantitative analysis. The findings from this research are used as inputs into managerial decision making. The present study is Exploratory-cum-Descriptive in nature as it endeavors to find out the determinants for measuring effectiveness of distribution function and at the same time predicts measures to improve effectiveness as well as recommendations for white goods manufacturing companies and their distributors. The general approach for the collection of data for this research work was based on two major approaches. These are primary and secondary data collection. Our focus is on the collection of primary data through three questionnaires administered for marketing personnel of the companies, Distributors of the companies and the Customers. Along with this, data is also collected through interviews conducted for marketing managers of the companies and also secondary data is collected over the different websites of various white goods companies. Research Problem Being Stated The starting point of any research work is the recognition of the problem area, which is very necessary. For a problem to be well understood, it is better developing good questions. “What do I want to find out?” is a question we must answer (Brewerton, 2001). The entire research will be based on this question. Difficulties can arise for other steps in the research process if the problem area is not defined clearly (Brewerton, 2001). The interest of the study is on the measurement of effectiveness of distribution function in White Goods industry. There are various studies on distribution channel decision, selection procedure, conflicts and their resolution, channel communication and channel power. But on the same there are significant gaps due to the fact that the different studies are not comprehensive study done on distribution functions in white goods industry in Indian context. In this study, the focus is on the study of effectiveness of distribution channels as per manufacturers’, distributors’ and customers’ point of view.

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Objectives of the Study

1. To study the working of emerging channels of distribution like telemarketing, emarketing etc.

2. To study the present state of channels of distribution in white goods industry.

3. To analyze the factors in selection procedure of distribution intermediaries influencing the white goods companies.

4. To understand the causes of conflicts within the channel of distribution, techniques to resolve the conflicts and to determine the factors to motivate them.

5.

To evaluate the performance of the dealers and distributors from company’s point of view.

6. To determine the motivators as per the distributors’ perception that is responsible for their performance.

7.

To study the effectiveness of distribution channels from customers’ point of view.

8. To study the effectiveness of distribution channels from distributors’ point of view.

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Type of Analysis:

 The analysis done in this particular project report is statistical.

Sources of Data:

a. Primary Data: The Primary data are those data which are collected fresh and for the first time and thus happen to be original in character. The primary data that was collected through interview conducted in stores with daily visiting customers. The primary data sources include copies of questionnaire and data of their respective responses.

b. Secondary Data:

The secondary data are those which have already been collected by someone else and which have been passed through the statistical process. Secondary data was collected through company websites.

29

COLLECTION OF DATA

Primary Data Collection

Research Technique: As the researcher, I adopted survey method as a research technique for this particular project report.

Contact Method: I as a researcher interviewed the respondents by personal interview.

Sampling Plan:

a) Population: The population covered in this project report refers to the existing customers.

b) Sample Size The sample size undertaken by me for this particular project report is 100 respondents.

c) Sample Element The respondents contacted and interviewed in this project report are all from different domain.

d) Sample Extent As a researcher, I conducted this survey only for the customers of Regional Retail.

e) Sample Duration The survey was undertaken from the 1st June, 2015 to 27th June, 2015 i.e. for two months.

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f) Research Instrument: Questionnaires containing both open ended and close ended questions were used as a research instrument in this particular project report.

Limitation



The main constrain was jus interaction with the people who comes to the store.



I was provided with a questionnaire, so scope of some open ended responses was limited.



I was assigned just two stores, so responses and learning was limited.

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DATA ANALYSIS

RESULT OF SURVEY ON CRM IN FORTUNE MEDITECH:

1. Are you satisfied with the services provided by Fortune Meditech ?

62

22

16

YES

NO

CAN’T SAY

yes no cant say

Figure-1

Interpretation: From the above table it is clear that customers are satisfied with the services of Medical Retail because out of 100 customers 62 has given the positive answer in favour of Fortune Meditech.

32

2. How do you find the Shopper Assistant’s behaviour?

69

HELPING

24

NOT HELPING

80 70 60 50 40 30 20 10 0

7

RUDE

Series1

Figure-2

Interpretation: From the above table it is clear that customer are satisfied with the attitude of the shopper’s .Out of 100 customer all 69 customer are satisfied.

33

3. How would you rate the Shopper Assistant’s behavioron the scale of five?

29

38

5

21

4

10

3

02

2

1

40 35 30 25 20

No. of Respondents

15

10 5 0 5

4

3

2

1

Figure-3

Interpretation: Out of 100 customer, 29 customer have given the 5 marks to shopper assistant behaviour. While 38 has given 4 marks & 21 has given 3 marks

34

4. Do you find the Layout of Fortune Meditech helpful in Shopping Experience?

20

8

2

NO

YES

CAN’T SAY

12

can't say

15

no

73

yes

0

20

40

60

80

Series1

Figure-4

Interpretation: Out of 100 customers ,73 have told that they like the layout of Fortune Meditech while 15 told that they do not like very much.

35

5. What do you like most about Fortune Meditech?

12

Staff

Visual Merchandising

27

Quality of Products

5

56

Price

60

50 40 30

No. of Respondents

20

10 0

Staff

VM

Quality

Price

Figure-5

Interpretation: Out of 100 Customer, 56 customers like Price of products at Fortune Meditech while 27 customers like the Quality.

36

6. How often do Fortune Meditech services exceed your expectations? (Customer Delightness)

67

ALWAYS

80 70 60 50 40 30 20 10 0

28

5

SOMETIMES

NEVER

Series1

67

28 5

Figure-6

Interpretation: Out of 100 Customers , 67 customers said that Fortune Meditech always provide better services & it exceed their expectation.

37

7. Do you think that Fortune Meditech follow the ethical Mktg. Practices like right pricing, right quality and right quantity?

100 90 80 70 60 50 40 30 20 10 0

88

12

YES

NO

0

CAN’T SAY

Series1

88

12 Yes

0 Can'tsay

No

Figure-7 Interpretation: Out of 100 customers, 88 customers have told that Fortune Meditech following the ethical marketing practices.

38

8. What comes first when you think about Fortune Meditech ?

69

PRICE

31

QUALITY

QUALIT Y 31%

PRICE 69%

Figure-8

Interpretation: Customer said that when they think about Fortune Meditech they think about price. Out of 100 customer 69 customer have told this while 31 customer said that they think about quality.

39

9. How would you rate the product display and advertising of Fortune Meditech in comparison to other? 33

38

EXCELLENT

40 35 30 25 20 15 10 5 0

17

GOOD

11

SO-SO

1

BAD

WORST

38 33 17 11 1

Figure-9

Interpretation: Out of 100 customers, 33 customers said that Fortune Meditech theme is excellent while 38 customers said that it is good.

40

10. How would you rate the overall experience at Fortune Meditechin comparison to other retail stores?

38 8

43

EXCELLENT

50 45 40 35 30 25 20 15 10 5 0

8

11

GOOD

SO-SO

0

BAD

WORST

43 38

11

8 0

. Figure-10 Result Out of 100 customers, more than 81 customers have a good overall experience at the Medical Retail stores.

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FINDINGS

In this survey the findings are given below:

1. Most of the stores are targeting almost all the segments of the society with their USP

being

“Price benefit”. 2. All the stores are in Prime Location. 3. Every Retail outlet have motivated and trained sales force. 4. Large variety of products are available ranging from electronic goods etc. 5. Staff is provided constant training for various peculiarities of customer behavior. 6. Some of them offer discount sales and also send greetings to its loyal customers. 7. Not much difference in the Layout of the floor designs in the various branches. They try to maintain a similarity to maintain comfort levels of customers. 8. These stores maintain Word of Mouth. 9. Customers are satisfied with the provided services. 10. International shopping experiences can be achieved from these stores.

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SUGGESTIONS

1) Convert your customers into publicity agents. Develop an incentive for them to tell associates and friends about the value of your products or services. An endorsement from them is more effective than any amount of advertising – and it is much cheaper.

2) Surprise your customers with unexpected value. If you sell products, include an "unadvertised bonus" with every order. If you sell services, get into the habit of doing something

extra

for

every

customer

or

client

without

charging

for

it.

3) Reward them each time they refer someone who becomes a customer. Your reward can be as simple as a credit toward their next order from you. 4)The management of Fortune Meditech can improve their understanding of the role and capabilities of advertising to improve customer relation and enhance loyalty. This understanding should in turn results in a more effective and more efficient advertising campaign. 5) Schemes: In store Promotions: The people visiting the store should be encouraged to visit the store again and again. So it is necessary to delight the shoppers with the shopping experience.

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CONCLUSION

“Customer Service is a critical factor for keeping your clients coming back and ensuring they’ll refer you to others”.

1. Growing your business will be a difficult task at best if you don’t perform, meet and exceed your client’s expectations, and provide service that creates customers for life.

2. Customer service is all about the customer’s perception. They have to do more than just get the job done. You must deliver on all the things (big and small) that affect the relationship with your client. Consider



opportunities

for

improvement

in

the

following

areas

:

Setting/Reviewing Expectations: Do you work with your client to set clear, appropriate, realistic expectations that you can always meet or exceed? Are you clear about the responsibilities (both yours’ and the client’s), timelines, and expectations of results? Are you then willing to go back and review these expectations with the client



at

key

points

along

the

way?

Communication: Do you have mechanisms in place to ensure you’re communicating with clients at every stage of the engagement, from the sales process through to completion of the project? Being clear about where you’re at, what’s been completed, what’s coming up next, who’s responsible, what results you can expect, etc.?

Has

the

client

ever

had

44

to

ask

you

for

these

things?



Organization: Are you organized? Punctual? Reliable? When you show up to work with your clients, have you done the work and are you prepared to make them feel comfortable and taken care of? Even though you’ve done it hundreds, maybe thousands of times before, do you take the time to organize and prepare to make it the



best

client

experience

possible?

Committing to the Little Things:Don’t ever dismiss the power of all the little things. Together they can make all the difference and really separate you from the competition. Returning calls and emails in a timely manner. Providing useful information to folks on a regular basis. Showing appreciation for your clients through things like thank you notes, exclusive client-only briefings, and open house, etc.

These were some of the Factors which might provide a boost to the sales figures and implementing customer relationship management.

45

QUESTIONAIRE

CUSTOMER BASED SURVEY:

Name:

Ph. No.-

Location of Store:

1. Are you satisfied with the services provided by Fortune Meditech ?

YES

NO

CAN’T SAY

2. How do you find the Shopper Assistant’s behavior?

HELPING

NOT HELPING

RUDE

3. How would you rate the Shopper Assistant’s behavior on the scale of five?

46

4. Do you find the Layout of Fortune Meditech helpful in Shopping Experience?

YES

NO

CAN’T SAY

5. What do you like most about Fortune Meditech?

CREDIT FACILITY

TRANSPORTATION FACILITY

DELIVERY SERVICES

6. How often do Fortune Meditech services exceed your expectations?

ALWAYS

SOMETIMES

47

NEVER

7. Do you think that Fortune Meditech follow the ethical Mktg. Practices like right pricing, right quality and right quantity?

YES

CAN’T SAY

NO

8. What comes first when you think about Fortune Meditech?

PRICE

QUALITY

9. How would you rate theme–setting display of Fortune Meditech in comparison to other?

EXCELLENT GOOD SO-SO

BAD

WORST

48

10. How would you rate the overall experience at Fortune Meditech in comparison to other retail stores?

EXCELLENT

GOOD

SO-SO

BAD

.

49

WORST

BIBLIOGRAPHY

BOOKS:  Assael, Henry. (1984.) “Behavior and Market Action”. Boston, Massachusetts: Kent Publishing Company,  Belch, G.E., & Belch, M.A. (2001). Advertising and Promotion: An integrated Marketing Communications Perspective (5th ed.). Boston: Irwin/McGraw- Hill.  Cooper, Donald R. and Schindler , Pamela S. (1999), Business Research Methods, 6 Tata McGraw-Hill Publishing Company Limited, New Delhi, India.  Creswell, J. W. (2003). “Research Design: Qualitative, Quantitative, and Mixed Methods Approaches”. Thousand Oaks, CA, Sage.  Easterby-Smith, M., Thorpe, R. & Lowe, A. (2002), Management Research 2nd edition, London: Sage.  Remenyi, D., Williams, B., Money, A. and Swartz, E. (1998), “Doing Research in Business and Management”, Sage Publications, London.

Websites: 

www.britannica.com



www.fortune medicare.com



http://www.academia.edu/4287442/CRM_IN_meditech_INDUSTRY



http://theglobaljournals.com/gra/file.php?val=October_2013_1381843003_c05fc_26.pdf



http://en.wikipedia.org/wiki/FortuneMeditech



https://en.wikipedia.org/wiki/mediteching_in_India

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