Professional Documents
Culture Documents
ON
“CUSTOMER RELATIONSHIP MANAGEMENT
WITH
RELIGARE SECURITIES LTD”
BY
Gurvinder Singh
Religare Securities Limited
Summer Internship Project
(Batch 2009-2011)
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PROJECT
ON
“CUSTOMER RELATIONSHIP MANAGEMENT
WITH
RELIGARE SECURITIES LTD”
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ACKNOWLEDGEMENT
GURVINDER SINGH
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Declaration
I also declare that this project is the result of my own efforts and has not
been submitted to any other institution for the award of any Degree or
Diploma.
Place: Mohali
Gurvinder Singh
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TABLE OF CONTENTS
Appendix –
Copies of questionnaire
Bibliography
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CHAPTER 1.
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RATIONALE OF THE STUDY
The company can then use the information to learn about the behavior of
its customers and improve the way it does a business. It can look at
recurring complaints from multiple customers to solve a problem which
would otherwise go unchecked with a normal formats and management
system of the company.
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The main objective of my project is to find effective solution for the
Customer Relationship Management and accordingly increase the
credibility and profitability of the company. This study is more related to
consumer behavior and perception about the facilities and convenience
provided by the company, Customer Satisfaction is emphasized in this
management.
o Helping an enterprise to enable its marketing departments to identify
and target their best customers, manage marketing campaigns with clear
goals and objectives, and generate quality leads for the sales team.
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CHAPTER 2.
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OBJECTIVE OF THE STUDY
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On an average all the customers are happy with the company and look
forward to the growth of it.
The heart of CRM is not being customer centric but rather to use
customer profitability as a driver for decision making and action. Before
exploring this assertion, it is useful to review the process of resource
allocation as it is practiced in most organizations. The budget process
largely consists of an extrapolation of the past. Resource constraints pit
function against function with back room deals that are based on internal
politics versus the marketplace. This decision process has little insight as
to what is working and what is not working (as it applies to the
marketplace) or for that matter why? Without insight relative to cause
and effect, the organization has no choice but to follow intuition and
anecdote. It is analogous to the story about the marketing VP who
admitted that half the advertising budget was wasted; the problem was
he did not know which half.
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CHAPTER 3.
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Profile of company
Religare has a very credible Research and Analysis division, which not
only caters to the need of our Institutional clientele, but also gives their
valuable inputs to investment dealers.
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RSL is a member of the National Stock Exchange of India, Bombay
Stock Exchange of India, Depository Participant with National
Securities Depository Limited and Central Depository Services (I)
Limited, and is a SEBI approved Portfolio Manager.
Name
Religare is a Latin word that translates as 'to bind together'. This name
has been
Chosen to reflect the integrated nature of the financial services the
company offers. The name is intended to unite and bring together the
phenomenon of money and wealth to coexist and serve the interest of
individuals and institutions, alike.
Symbol
The Religare name is paired with the symbol of a four-leaf clover. The
four-leaf
Clover is used to define the rare quality of good fortune that is the aim of
every financial plan. It has traditionally been considered good fortune to
find a single four leaf clover considering that statistically one may need
to search through over 10,000 three-leaf clovers to even find one four
leaf clover.
Each leaf of the four-leaf clover has a special meaning in the sphere of
Religare.
The third leaf of the clover represents C are. The secret ingredient
that is the triumph of diligence in every aspect. From it springs true
warmth of service and the ability to adapt to evolving environments with
consideration to all.
The fourth and final leaf of the clover represents G ood F ortune.
Signifying that rare ability to meld opportunity and planning with
circumstance to generate those often looked for remunerative moments
of success.
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VISION & MISSION
Company’s Vision –
“Providing integrated financial care driven by the relationship of trust
and confidence”.
Company’s Mission –
“To be India's first Multinational providing complete financial services
solution across the globe”.
Brand Essence –
“Core brand essence is Diligence and Religare is driven by ethical and
dynamic processes for wealth creation”.
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Religare Enterprises Ltd.
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With 22 hospitals in India, including multi-
specialty & super specialty centres, the management is aggressively
working towards taking this number to a significant level in the next few
years to provide quality healthcare facilities and services across the
nation.
Securities
Sub Industry:
Brokerage
16,718,848,000
2010 Sales (Year Ending Jan Employees: N/A
2011).
Fiscal Yr Shares
March 127,813,800
Ends: Outstanding:
Closely Held
Share Type: Ordinary 42,765,660
Shares:
Religare Finvest
Religare Finvest Limited (RFL), a Non Banking Finance Company
(NBFC) is aggressively making a name in the financial services arena in
India. In a fast paced, constantly changing dynamic business
environment, RFL has delivered the most competitive products and
services. RFL is primarily engaged in the business of providing finance
against securities in the secondary market. It also provides finance for
application in Initial Public Offers to non-retail clients in the primary
market
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RFL is also planning to initiate personal loan portfolio as fund based
activity and mutual fund distribution as fee based activities Along with
this, the company also undertakes non-fund based advisory operations in
the field of Corporate Financing in the nature of Credit Syndication
which includes bills discounting, intercorporate deposit, working capital
loan syndication, placement of private equity and other structured
products
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Religare Insurance Advisory aims to provide neutral, transparent and
professional risk transfer advice to become the first choice of India
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Initial Public Offerings (IPO)
Mutual Fund Investment
Equity Trading
Trading in Equities with Religare truly empowers you for your
investment needs. We ensure you have superlative trading experience
through –
Further, Religare also has one the largest retail networks, with its
presence in more than 1800* locations across more than 490* cities and
towns. This means, you can walk into any of these branches and connect
to our highly skilled and dedicated relationship managers to get the best
services.
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Industry Profile
While regulation and reforms have made major improvements in the
quality of the equity markets in India, its rapid growth and development
are largely due to strong and efficient market intermediation. The
robustness of the Indian markets today is attributable to a healthy blend
of the quality of market Structure and efficient intermediation. Even as
several countries are instituting procedures to commence. Equity
derivative markets, India ranks amongst the top five countries globally
in this segment, in less than five years of its introduction. This is an
example of the proactive and progressive nature of the Indian brokerage
industry.
In the last decade, the Indian brokerage industry has undergone a
dramatic transformation. From being made of close groups, the broking
industry today is one of the most transparent and compliance oriented
businesses. Long settlement cycles and large scale bad deliveries are a
thing of the past with the advent of T+2 (Trading day + 2 days)
settlement cycle and dematerialization. Large and fixed commissions
have been replaced by wafer thin margins, with competition driving
down the brokerage fee, in some cases, to a few basis points.
There have also been major changes in the way business is conducted.
Technology has emerged as the key driver of business and investment
advice has become research based. At the same time, adherence to
regulation and compliance has vastly increased. The scope of services
have enhanced from being equity products to a wide range of financial
services. Investor protection has assumed significance, and so has
providing them with education and awareness. Greater need for
capitalization has induced several firms to access the capital market;
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foreign firms are showing increasing interest in taking equity stakes in
domestic broking firms.
1. Corporate memberships
There is a growing surge of corporate memberships (92% in NSE and
75% in BSE), and the scope of functioning of the brokerage firms has
transformed from that of being a family run business to that of
professional organized function that lays greater emphasis on
observance of market principles and best practices. With proliferation of
new markets and products, corporate nature of the memberships is
enabling broking firms to expand the realm of their operations into other
exchanges as also other product offerings. Memberships range from cash
market to derivatives to commodities and a few broking firms are
making forays into obtaining memberships in exchanges outside the
country subject to their availability and eligibility.
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the leading brokerage firms, which might lead to creating of greater
interest in investing in brokerage firms by entities in India and abroad.
7. Online broking
Several brokers are extending benefits of online trading through creation
of separate windows. Some others have dedicated online broking portals.
Emergence of online broking enabled reduction in transaction costs and
costs of trading. Keen competition has emerged in online broking
services, with some of these offering trading services at the cost of a few
basis points or costs which are fixed in nature irrespective of the volume
of trading conducted. A wide range of incentives are being created and
offered by online brokerage firms to attract larger number of clients.
8. Compliance oriented
With stringent regulatory norms in operation, broking industry is giving
greater emphasis on regulatory compliance and observance of market
principles and codes of conduct. Many brokerage firms are investing
time, money and resources to create efficient and effective compliance
and reporting systems that will help them in avoiding costly mistakes
and possible market abuses. Brokerage firms now have a compliance
officer who is responsible for all compliance related aspects and for
interacting with clients and other stake holders on aspects of regulation
and compliance.
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9. Focus on training and skill sets
Brokerage firms are giving importance and significance to aspects such
as training on skill sets that could prove to be beneficial in the long run.
With the nature of markets and products becoming more complex, it
becomes imperative for the broking firms to keep their staff
continuously updated with latest development in practices and
procedures. Moreover, it is mandated for certain types of dealers/brokers
to seek specific certification and examinations that will make them
eligible to carry business or trade. Greater emphasis on aspects such as
research and analysis is giving scope trading conducted. A wide range of
incentives are being created and offered by online brokerage firms to
attract larger number of clients.
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and significance of the business. Initial measures to promote South
Asian economic integration is being made by governments in the region
first at the political level to be followed up in regard to financial
markets. South Asian economic integration will provide greater
opportunities for broking firms in India to pursue cross border business.
In view of several of common features prevailing in the markets, it
would be easier to make progress in this regard.
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CHAPTER 4.
LITERATURE REVIEW
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Literature Review
Historical Background:
Customer relationship management (CRM), a concept that has been
around since the mid 90s, has its roots in the technology of sales
automation and call center operations. At that time, it was thought that
merging the customer data from the field (sales) with the call center
interactions would result in more informed interactions with the
customer. The concept resonated with user organizations and soon
mergers and acquisitions created a host of software vendors all claiming
to have an integrated set of capabilities that became known as CRM.
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On the other hands, CRM can be defined as a process or methodology
used to learn more about customers’s needs and behaviors in order to
manage and develop stronger relationships in an organized way with
them.
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Components of CRM:
2. Sales:
Sales process management follows a customized sales methodology with
specific sales policies and procedures. Sales activities include – Product
information, Product configuration, sales prospectus and sales quote
generation. CRM also provide the history of customer account so that
the sales call can be scheduled accordingly.
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cases. Help desk system is developed to help customer service
representative to help customers who face problems with product or
service to resolve it. Web-based Self Service means help customer to
access personalized information at company website.
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in a more consistent and unified fashion with its customers, instilling a
greater level of trust and strengthening customer relationships.
Religare Securities Limited (RSL) provides a host of financial services
under one roof following a ONE STOP SHOP philosophy. It has a
dedicated team of professionals to cater to the variety of services to
Individuals, Corporate and Institutions. The team updates its clients with
opportunities - with a sense of competitive urgency and risk
management. What‟s more, their special analysts design customized
services for HNI and Institutions.
Over the years Religare Securities Ltd. has played a successful role in
client's wealth creation. In the process Religare Securities Ltd. also
refined itself, as an investment advisor and is poised to provide complete
Investment Management Solutions to its valued clientele.
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NEWS:
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“The demographic of the citi’s home equities customers perfectly suited
us in terms of their assets, locations and profile”, Kavi Arora, CEO at
Religare finvest, told ET adding the transfer process is expected to be
completed by Sep.
A source at citi bank described the transaction as a small portfolio sale
as a part of a routine transaction . “Such assets sold substituted by fresh
organizations”, he said.
Citi group’s total home loan business, including the home financing an
mortgage part, is around rs 9000 cr. The home equity business has about
1700 contracts with around rs 500 cr. Assets under mgt, Mr. Arora.
Religare finvest already provide mortgage finance to SME’s, equipment
companies and infrastructure firm at annual interest between 11.5 - 12.5
%. Besides, it also provides IPO financing to private-held firms.
Established in 2006, Religare finvest currently employs over 400 people
and is present across 23 cities. Buyout of Citi’s home equity business
will take Religare Finvest’s assets to Rs 3300 Cr from Rs 2800 Cr at
present. The firm aims to create asset’s worth over Rs 10000 by 2012.
The deal is part of REL’S expansion drive which includes a plan to
invest $1bn (Rs 4600 Cr) globally for strategic investments.
News from The Economic Times, 15th July, 2010.
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Equities
What is equity?
Funds brought into a business by its shareholders is called equity. It is a
measure of a stake of a person or group of persons starting a business.
Dematerialization
What is Demat?
Demat is a commonly used abbreviation of Dematerialisation, which is a
process whereby securities like shares, debentures are converted from
the "material" (paper documents) into electronic data and stored in the
computers of an electronic Depository. You surrender material securities
registered in your name to a Depository Participant (DP). These are then
sent to the respective companies who cancel them after dematerialization
and credit your Depository Account with the DP. The securities on
dematerialization appear as balances in the Depository Account. These
balances are transferable like physical shares. If at a later date you wish
to have these "Demat" securities converted back into paper certificates,
the Depository can help to revive the paper shares.
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What is the procedure for the dematerialisation of
securities?
Check with a DP as to whether the securities you hold can be
dematerialised. Then open an account with a DP and surrender the share
certificates.
What is a Depository?
A Depository is a securities "bank," where dematerialised physical
securities are held in custody, and from where they can be traded. This
facilitates faster, risk-free and low cost settlement. A Depository is akin
to a bank and performs activities similar in nature.
At present, there are two Depositories in India, National Securities
Depository Limited (NSDL) and Central Depository Services (CDS).
NSDL was the first Indian Depository.
It was inaugurated in November 1996. NSDL was set up with an initial
capital of Rs 124 crores, promoted by Industrial Development Bank of
India (IDBI), Unit Trust of India (UTI), National Stock Exchange of
India Ltd. (NSEIL) and the State Bank of India (SBI).
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Chapter 5.
Research Methodology
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Research Methodology
Research Design:
Research design means adopting that type technique of research which is
most suited for the research and study of the problem. For the study and
the research of the problem proper material has to be selected and
collected for the investigation.
“A research design is the arrangement of conditions for collection and
analysis of data in a manner that aims to combine relevance to the
research purpose with economy in procedure.” - Jahoda, deutish. Cook.
In order to know about effectiveness of Customer Relationship
Management in Religare Securities Ltd., it was necessary to interact
with the customer. The sample taken comprised of respondents from
Pune city. A questionnaire had to be designed to collect valuable
information from the different customer groups. The questionnaire
which was designed suitably to meet the objective of research work.
Nature of Research:
In this project report I have undertaken quantitative type of study.
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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 Regional Branch 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.
Some of the web sites http://www.religaresecurities.com/ and some
others like.
Chapter 6.
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Primary Data Collection
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
(Office Coming) customers of Regional Office, who have their trading
and D‟mat A/c with Religare Securities Ltd.
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 some of them were Businessmen, High Net-worth
Investors, Proprietors, even Students also invest in Share Market.
d) Sample Extent
As a researcher, I conducted this survey only for the customers in
Regional Office of Religare Securities, Mohali.
e) Sample Duration
The survey was undertaken from the 01st June, 2010 to 15th July, 2010.
f) Research Instrument:
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Questionnaires containing both open ended and close ended questions
were used as a research instrument in this particular project report.
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Chapter 7.
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Data Analysis & Interpretation
1. Respondents
Interpretation:
Above pie chart represents that research contains 100 respondents which
are Businessmen, HNIs, Proprietors and Individuals and they are 30, 8,
24, 38 respectively in numbers and percentages.
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2. Income Group(Annual):
Interpretation:
Above pie chart represents that the research contained 100 investors and
customers of Religare Securities Ltd. All the people were from different
different Income group which are in numbers shown above. W e can
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clearly see sample includes more customers from first income group i.e.
INR 10,000 – 1 Lakh
3. Company Interaction via Email and Telephone Calls:
Interpretation:
From the above result of Company Interaction via Email and Telephone
calls, we can imagine the satisfaction level of customers and accordingly
Customer Relationship is managed through electronic media to
maximize the wealth of customers. In Religare mostly dealers are in
touch of regular traders / customers and customers also get loyal to the
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company through this practice. Every call is taped by default for the
evidence of orders to buy or sell the stocks and Emails too.
Interpretation:
When it was asked sudden and on the time answer was the same of
maximum people, it means the credibility and trustworthiness of the
company is on the height. It‟s nothing but the result of Relationship
Management.
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It is said that Share Market means “Well of Loss”, nevertheless
Religare’s Customer don’t have any tension in investing because they
believe in Company’s Researchers and Analysts and their investment
tips too.
5. Where do you rate Religare on the scale of 10 in terms of
Services?
Interpretation:
From the above answers Customer Relationship can be very well
highlighted because out of 100, 43 people have rated Religare on the
scale of 1 to 10 and again in remaining maximum customers say that
they rate Religare at on the scale of 1 to 10.Every customer has his own
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value and consideration about Religare because they invest their Hard
Earned money and take risk to earn more cause of Religare‟s Services
and Attachment and it is all the output of Customer Relationship
Management.
6. Where do you invest/ trade mostly?
Interpretation:
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One general question was asked in questionnaire to know the investment
flow of customers towards Religare Services. When it was asked why
they invest in specific area mostly then it was answered by many people
that liquidity market is easy to make money out of investment and take
money out whenever we feel not to put. And other reason many
customers don‟t want to invest for long time.And about currency some
people were not interested.
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Interpretation:
From the above view of graph we come to know that maximum people,
61% customers trade in Intraday Trading. On this customers say they
like to trade in Intraday because of Short term investment and high level
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of excitement and sometimes they feel their money seems to sink. It’s
like One Day Cricket play for many customers.
In Delivery, people say here is “No / Low Risk, More Money”, in this
people say if scrip goes down like “Satyam”, then also we get chance to
book profit buying current stocks in low price and putting old stock
aside temporarily. Here we find people hesitate to invest in Intraday and
confident to trade in Delivery trading.
Very less traders population do trade in both area, for few people it‟s
nothing but fund managing, if one finds difficulty in making money in
Intraday, they simultaneously manage their fund for Delivery, but very
few people feel do this type of management.
Eventually Religare is the Broking firm and it doesn‟t lose its attention
from making money for its customers and lose its attention from
Customer Relationship Management.
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Interpretation:
Above pie chart represents the maximum people have their D‟mat A /c
and Trading A/c somewhere else also nevertheless they say they trade
from Religare only and few of their other A/cs are put Non-Operating by
them.
Here we get a fact that Religare‟s Customer Relationship Management
really has something very attractive and attachable to emotions cause of
services.
Few of them were hesitating while answering this question.
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9. Are you satisfied with the services provided by Religare?
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Interpretation
Above chart represents us the output of customer relationship
management with the help of services and customers satisfaction can
show a mirror of efforts of the company towards making their customers
loyal to them.
10. Since last how many years you are in field of trading?
Interpretation:
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Findings
Customer Relationship Management Business Drivers and Benefits
CRM should be kept and handled and carefully kept inside the
company only otherwise Customers Database can be misused by rivals.
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Their responses may not be proper because of their „Busyness‟ in
Dealing Room.
Some people, its felt that they gave fake response, with impression
that this questionnaire is from Religare Securities internal.
Some people did not take it serious because this was not important to
them as they are busy for trading at dealing Room.
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Chapter 8.
Limitations
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Limitations
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Suggestions
1. Short Duration:
Project research duration was only for six weeks, in this tenure neither
study nor observation can be done properly. For example, we saw
sample plan – in that only 100 customers could be contacted and now
the problem is- from this samples we cannot think of Macro Level
Perception of customers. Many people may be from same point of view
and many may not and those 100 people may not contain these type of
people. So duration of Research Project should be more than two
months.
2. Customer Category:
In this system at all the level where CRM is handled and watched by
Top class officials of the company, they also get to know the list names
and details of the loyal customers and CEO or Board of Directors also
get to know total customers and at last their turnover of the total
transaction.
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3. Affiliated Awareness Programs:
With the help of it companies CRM will help it to get height of success
and dominate the world of Services. Because CRM affects Marketing,
Sales and profitability and these all can be achieved by CRM.
For E.g., Religare Securities can play few awareness documentaries and
Advertisement with “Religare Vistaar” this will result in getting more
and more customers to serve and accordingly Religare can become the
first ranker in turnover very soon.
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Appendix
I. Copy of questionnaire
II. Bibliography
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Questionnaire
1. Name:________________________________________________
2. Contact No:________________________________________________
5. How do you find Company Interaction via Email and Telephone Calls ?
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10. Do you trade in any other broking firm?
Yes No
Yes No
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Bibliography
Websites
http://deadpresident.blogspot.com
http://religareonline.com
http://www.religaresecurities.com
Newspapers
The Economic Times
Business Standard
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