mktg project (1)

7/31/2019 Mktg Project (1)

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DISSERTATION PROJECT ON

Customer Satisfaction Analysis At Indiamart

At IndiaMart., Bangalore

REPORT SUBMITTED ON PARTIAL FULFILMENT OF THE

REQUIREMENTS FOR

POST GRADUATE DIPLOMA IN MANAGEMENT

Submitted By: Guided By:Vikas Tiwari Prof. R. K. Vijaya Sarathy

DSBSPGDMA09057 Director, DSBS

September 2011

Dayananda Sagar Business School

Shavige Malleshwara Hills, Kumaraswamy Layout, Bangalore 560 078, Karnataka, India.


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CERTIFICATE

This is to certify that the report titled Customer Satisfaction Analysis At Indiamart has

been prepared under my guidance and supervision the report is submitted in partial

fulfillment of the requirement for the award of Post Graduate Diploma in Management

(Approved by AICTE) by Vikas Tiwari, Reg NoDSBSPGDMA09057and this report / study

has not formed a basis for the award of any degree or diploma in any university / institution.

Place ....

Date Prof. R. K. Vijaya Sarathy

Director Faculty Guide


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DECLARATION:

I hereby declare that the report/ study titled Customer Satisfaction Analysis At

Indiamart prepared under the guidance of Prof. R. K. Vijaya Sarathy submitted in

partial fulfillment of the requirement for the award of Post Graduates Diploma in

Management (AICTE) in Dayananda Sagar Business School is my original work and has not

been submitted for the award of any other degree/ diploma in any university / institution.

Place ....Date Vikas Tiwari


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ACKNOWLEDGEMENT

A project is never the work of an individual. It is moreover a combination of ideas,

suggestions, review, contribution and work involving many folks. It cannot be completed

without guidelines.

First of all I would like to express my sincere gratitude to my external guide Mr. Veneeth

Raghuvanshi (Branch Manager), Mr Abhishek Jaiswal (Sr. Executive) Indiamart

Intermesh Ltd. for giving me this valuable learning opportunity and for allowing me to

conduct this dissertation project.

I would also like to express my sincere gratitude to my internal guide Prof. R. K. Vijaya

Sarathy and all the faculty members ofDAYANANDA SAGAR BUSINESS SCHOOL,

BANGALORE providing their help and advice whenever it was needed.

PLACE: Bangalore Vikas Tiwari

DSBSPGDMA09057


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EXECUTIVE SUMMARY

This project has been taken with a view to make an in depth analysis of latest & unique

marketing strategies employed by Indiamart with special reference to internet Retail industry

(e tailing) & B2B market thus uncover the reasons that have propelled the company to retain

its position as leading company in internet retail industry despite of stiff competition from

other competitors.

The present study creates awareness about the Customer satisfaction. It provides knowledge

to the readers about customer preferences & analysis of customer satisfaction. The present

study also is an effort to formulate strategy to boost up the market share for Indiamart.


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CONTENTS

CERTIFICATE

DECLARATION

ACKNOWLEDGEMENT

EXCECUTIVE SUMMARY

CHAPTER1:.7

INTRODUCTION

COMPANY PROFILE

REVIEW OF LITERATURE

PROBLEM STATEMENT

CHAPTER 2:...44

RESEARCH METHODOLOGY AND DESIGN

OBJECTIVES

LIMITATIONS OF THE STUDY

CHAPTER 3:49

DATA ANALYSIS

CHAPTER 4:57

FINDINGS AND RECOMMENDATIONS

CHAPTER 5:60

CONCLUSION

BIBLIOGRAPHY

QUESTIONNAIRE


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INTRODUCTION


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CUSTOMER SATISFACTION, a term frequently used in marketing, is a

measure of how products and services supplied by a company meet or surpass

customer expectation. Customer satisfaction is defined as "the number of

customers, or percentage of total customers, whose reported experience with

a firm, its products, or its services (ratings) exceeds specified satisfactiongoals."

It is seen as a key performance indicator within business and is often

part of a Balanced Scorecard. In a competitive marketplace where businesses

compete for customers, customer satisfaction is seen as a key differentiator

and increasingly has become a key element of business strategy.

Within organizations, customer satisfaction ratings can have powerful

effects. They focus employees on the importance of fulfilling customers

expectations. Furthermore, when these ratings dip, they warn of problems that

can affect sales and profitability. These metrics quantify an important dynamic.

When a brand has loyal customers, it gains positive word-of-mouth marketing,

which is both free and highly effective.

Therefore, it is essential for businesses to effectively manage customer

satisfaction. To be able do this, firms need reliable and representative

measures of satisfaction.

In researching satisfaction, firms generally ask customers whether their

product or service has met or exceeded expectations. Thus, expectations are a

key factor behind satisfaction. When customers have high expectations and

the reality falls short, they will be disappointed and will likely rate their

experience as less than satisfying. For this reason, a luxury resort, for example,

might receive a lower satisfaction rating than a budget moteleven though its

facilities and service would be deemed superior in absolute terms.

PURPOSE

Customer satisfaction provides a leading indicator of consumer purchase

intentions and loyalty. Customer satisfaction data are among the most

frequently collected indicators of market perceptions. Their principal use is

twofold.

1.

Within organizations, the collection, analysis and dissemination of thesedata send a message about the importance of tending to customers and
http://en.wikipedia.org/wiki/Marketinghttp://en.wikipedia.org/wiki/Balanced_Scorecardhttp://en.wikipedia.org/wiki/Balanced_Scorecardhttp://en.wikipedia.org/wiki/Marketing


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ensuring that they have a positive experience with the companys goods

and services.

2. Although sales or market share can indicate how well a firm is

performing currently, satisfaction is an indicator of how likely it is thatthe firms customers will make further purchases in the future. Much

research has focused on the relationship between customer satisfaction

and retention.

Studies indicate that the ramifications of satisfaction are most

strongly realized at the extremes. On a five-point scale, individuals who

rate their satisfaction level as 5 are likely to become return customers

and might even evangelize for the firm. (A second important metricrelated to satisfaction is willingness to recommend. This metric is

defined as "The percentage of surveyed customers who indicate that

they would recommend a brand to friends."

When a customer is satisfied with a product, he or she might

recommend it to friends, relatives and colleagues. This can be a

powerful marketing advantage.) Individuals who rate their satisfaction

level as 1, by contrast, are unlikely to return. Further, they can hurtthe firm by making negative comments about it to prospective

customers. Willingness to recommend is a key metric relating to

customer satisfaction.

Measuring customer satisfaction

"If you cannot measure it, you cannot improve it." - Lord William Thomson

Kelvin (1824-1907)

Measurement of Customer Satisfaction is a new significant addition to

the new ISO9000: 2000 standard. Organizations certified to this standard are

now required to identify parameters that cause customer satisfaction or

dissatisfaction and consciously measure them.

Organizations need to retain existing customers while targeting non-

customers. Measuring customer satisfaction provides an indication of how

successful the organization is at providing products and/or services to themarketplace.


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Customer satisfaction is measured at the individual level, but it is almost

always reported at an aggregate level. It can be, and often is, measured along

various dimensions. A hotel, for example, might ask customers to rate their

experience with its front desk and check-in service, with the room, with theamenities in the room, with the restaurants, and so on. Additionally, in a

holistic sense, the hotel might ask about overall satisfaction with your stay.

As research on consumption experiences grows, evidence suggests that

consumers purchase goods and services for a combination of two types of

benefits: hedonic and utilitarian. Hedonic benefits are associated with the

sensory and experiential attributes of the product. Utilitarian benefits of a

product are associated with the more instrumental and functional attributes of

the product.

Customer satisfaction is an ambiguous and abstract concept and the

actual manifestation of the state of satisfaction will vary from person to person

and product/service to product/service. The state of satisfaction depends on a

number of both psychological and physical variables which correlate with

satisfaction behaviors such as return and recommend rate. The level of

satisfaction can also vary depending on other options the customer may have

and other products against which the customer can compare the organization'sproducts.

The usual measures of customer satisfaction involve a survey with a set

of statements using a Likert Technique or scale. The customer is asked to

evaluate each statement and in term of their perception and expectation of

performance of the organization being measured. Their satisfaction is generally

measured on a five-point scale.

Customer satisfaction data can also be collected on a 10-point scale.

Regardless of the scale used, the objective is to measure customers

perceived satisfaction with their experience of a firms offerings. It is essential

for firms to effectively manage customer satisfaction. To be able do this, we

need accurate measurement of satisfaction.
http://en.wikipedia.org/wiki/Sample_surveyhttp://en.wikipedia.org/wiki/Likert_scalehttp://en.wikipedia.org/wiki/File:Customer-satisfaction-scale.pnghttp://en.wikipedia.org/wiki/Likert_scalehttp://en.wikipedia.org/wiki/Sample_survey


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Good quality measures need to have high satisfaction loadings, good

reliability, and low error variances. In an empirical study comparing commonly

used satisfaction measures it was found that two multi-item semantic

differential scales performed best across both hedonic and utilitarian serviceconsumption contexts.

Finally, all measures captured both affective and cognitive aspects of

satisfaction, independent of their scale anchors. Affective measures capture a

consumers attitude (liking/disliking) towards a product, which can result from

any product information or experience. On the other hand, cognitive element

is defined as an appraisal or conclusion on how the products performance

compared against expectations (or exceeded or fell short of expectations), was

useful (or not useful), fit the situation (or did not fit), exceeded the

requirements of the situation (or did not exceed).

American Customer Satisfaction Index (ACSI) is a scientific standard of

customer satisfaction. Academic research has shown that the national ACSI

score is a strong predictor of Gross Domestic Product (GDP) growth, and an

even stronger predictor ofPersonal Consumption Expenditure (PCE) growth.

ACSI reports scores on a 0-100 scale at the national level and producesindexes for 10 economic sectors, 47 industries (including e-commerce and e-

business), more than 225 companies, and over 200 federal or local government

services. In addition to the company-level satisfaction scores, ACSI produces

scores for the causes and consequences of customer satisfaction and their

relationships. The measured companies, industries, and sectors are broadly

representative of the U.S. economy serving American households.

On the microeconomic level, academic studies have shown that ACSIdata is related to a firm's financial performance in terms of return on

investment (ROI), sales, long-term firm value (Tobin's q), cash flow, cash flow

volatility, human capital performance, portfolio returns, debt financing, risk,

and consumer spending.

Increasing ACSI scores has been shown to predict loyalty, word-of-

mouth recommendations, and purchase behavior. The ACSI measures

customer satisfaction annually for more than 200 companies in 43 industriesand 10 economic sectors. In addition to quarterly reports, the ACSI
http://en.wikipedia.org/wiki/Semantic_differentialhttp://en.wikipedia.org/wiki/Semantic_differentialhttp://en.wikipedia.org/wiki/American_Customer_Satisfaction_Indexhttp://en.wikipedia.org/wiki/Gross_domestic_producthttp://en.wikipedia.org/wiki/Personal_Consumption_Expenditurehttp://en.wikipedia.org/wiki/Microeconomichttp://en.wikipedia.org/wiki/Return_on_investmenthttp://en.wikipedia.org/wiki/Return_on_investmenthttp://en.wikipedia.org/wiki/Tobin%27s_qhttp://en.wikipedia.org/wiki/Tobin%27s_qhttp://en.wikipedia.org/wiki/Cash_flowhttp://en.wikipedia.org/wiki/Human_capitalhttp://en.wikipedia.org/wiki/Portfoliohttp://en.wikipedia.org/wiki/Debthttp://en.wikipedia.org/wiki/Debthttp://en.wikipedia.org/wiki/Portfoliohttp://en.wikipedia.org/wiki/Human_capitalhttp://en.wikipedia.org/wiki/Cash_flowhttp://en.wikipedia.org/wiki/Tobin%27s_qhttp://en.wikipedia.org/wiki/Return_on_investmenthttp://en.wikipedia.org/wiki/Return_on_investmenthttp://en.wikipedia.org/wiki/Microeconomichttp://en.wikipedia.org/wiki/Personal_Consumption_Expenditurehttp://en.wikipedia.org/wiki/Gross_domestic_producthttp://en.wikipedia.org/wiki/American_Customer_Satisfaction_Indexhttp://en.wikipedia.org/wiki/Semantic_differentialhttp://en.wikipedia.org/wiki/Semantic_differential


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methodology can be applied to private sector companies and government

agencies in order to improve loyalty and purchase intent.

Two companies have been licensed to apply the methodology of the

ACSI for both the private and public sector: CFI Group, Inc. and Foresee Resultsapply the ACSI to websites and other online initiatives. ASCI scores have also

been calculated by independent researchers, for example, for the mobile

phones sector, higher education,and electronic mail.

ACSI Methodology

The American Customer Satisfaction Index uses customer interviews as

input to a multi-equation econometric model developed at the University of

Michigan's Ross School of Business.

The ACSI model is a cause-and-effect model with indices for drivers of

satisfaction on the left side (customer expectations, perceived quality, and

perceived value), satisfaction (ACSI) in the center, and outcomes of satisfaction

on the right side (customer complaints and customer loyalty, including

customer retention and price tolerance).

The indexes (shown in the diagram below) are multivariable componentsmeasured by several questions that are weighted within the model. The

questions assess customer evaluations of the determinants of each index.

Indexes are reported on a 0 to 100 scale. The survey and modeling

methodology quantifies the strength of the effect of the index on the left to

the one to which the arrow points on the right.

These arrows represent "impacts." The ACSI model is self-weighting to

maximize the explanation of customer satisfaction (ACSI) on customer loyalty.

Looking at the indexes and impacts, users can determine which drivers ofsatisfaction, if improved, would have the most effect on customer loyalty.
http://www.cfigroup.com/http://www.foreseeresults.com/http://en.wikipedia.org/wiki/Electronic_mailhttp://en.wikipedia.org/wiki/Electronic_mailhttp://www.foreseeresults.com/http://www.cfigroup.com/


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Customer Expectations

Customer expectations are a measure of the customer's anticipation of

the quality of a company's products or services. Expectations represent

both prior consumption experience, which includes some non experientialinformation like advertising and word-of-mouth, and a forecast of the

company's ability to deliver quality in the future.

Perceived Quality

Perceived quality is a measure of the customer's evaluation via recent

consumption experience of the quality of a company's products or services.

Quality is measured in terms of both customization, which is the degree to

which a product or service meets the customer's individual needs, andreliability, which is the frequency with which things go wrong with the

product or service.

Perceived Value

Perceived value is a measure of quality relative to price paid. Although

price (value for money) is often very important to the customer's first

purchase, it usually has a somewhat smaller impact on satisfaction for repeat

purchases.

Customer Complaints

Customer complaints are measured as a percentage of respondents who

indicate they have complained to a company directly about a product or

service within a specified time frame. Satisfaction has a negative relationship

with customer complaints, as the more satisfied the customers, the less likely

they are to complain.

Customer Loyalty

Customer loyalty is a combination of the customer's professed likelihood

to repurchase from the same supplier in the future, and the likelihood to

purchase a companys products or services at various price points (price

tolerance). Customer loyalty is the critical component of the model as it

stands as a proxy for profitability.


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There is obviously a strong link between customer satisfaction and

customer retention. Customer's perception of Service and Quality of product

will determine the success of the product or service in the market.

With better understanding of customers' perceptions, companies candetermine the actions required to meet the customers' needs. They can

identify their own strengths and weaknesses, where they stand in comparison

to their competitors, chart out path future progress and improvement.

Customer satisfaction measurement helps to promote an increased focus on

customer outcomes and stimulate improvements in the work practices and

processes used within the company.

There is a lot of debate and confusion about what exactly is required and

how to go about it. Customer satisfaction is quite a complex issue and this

article is an attempt to review the necessary requirements, and discuss the

steps that need to be taken in order to measure and track customer

satisfaction.

What does Customers Want?

Before we begin to create tools to measure the level of satisfaction, it is

important to develop a clear understanding of what exactly the customer

wants. We need to know what our customers expect from the products and

services we provide.

Customer expectations are the customer-defined attributes of your

product or service you must meet or exceed to achieve customer satisfaction.

Customer Expectations are of two types - Expressed and Implied.

o Expressed Customer Expectations are those requirements that are

written down in the contract and agreed upon by both parties, for

example, product specifications and delivery requirements. Supplier's

performance against these requirements is most of the times directly

measurable.

o Implied Customer Expectations are not written or spoken but are the

ones the customer would 'expect' the supplier to meet nevertheless.


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For example, a customer would expect the service representative who

calls on him to be knowledgeable and competent to solve a problem on the

spot. There are many reasons why customer expectations are likely to change

over time. Process improvements, advent of new technology, changes in

customer's priorities, improved quality of service provided by competitors arejust a few examples.

The customer is always right. Supplier's job is to provide the Customer

what he wants, when he wants it. Customer Satisfaction is customers'

perception that a supplier has met or exceeded their expectations. It is

therefore important to periodically update our knowledge of customer

expectations.

What constitutes Satisfaction?

We cannot create customer satisfaction just by meeting customer's

requirements fully because these HAVE to be met in any case. However falling

short is certain to create dissatisfaction. Major attributes of customer

satisfaction can be summarized as:

o Product Quality

o Product Packaging

o Keeping delivery commitments

o Price

o Responsiveness and ability to resolve complaints and reject reports

o Overall communication, accessibility and attitude.

We cannot begin to address the customer satisfaction issue we define

the parameters and measures clearly. It may be easier to track supplier's

performance against stated requirements of quality and timeliness because

there is documentary evidence.

Some indication of whether a supplier is meeting the requirements can

also be obtained from data on scrap rates, PPM, complaints database, sales

improvements, repeat orders, customer audit reports etc.

It is far more difficult to measure the level of performance and

satisfaction when it comes to the intangible expectations.

What are the Tools?


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Customer expectations can be identified using various methods such as:

o Periodic Contract Reviews

o Market research

o

Telephonic Interviewso Personal visits

o Warranty records

o Informal discussions

o Satisfaction Surveys

Depending upon the customer base and available resources, we can choose

a method that is most effective in measuring the customers' perceptions. The

purpose of the exercise is to identify priorities for improvement.

We must develop a method or combination of methods that helps to

continually improve service.


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COMPANY PROFILE

IndiaMART.com is India's largest online B2B marketplace for Small

& Medium Size Businesses, connecting global buyers with suppliers. The

company offers a platform & tools to over 1 million suppliers to

generate business leads from over 5 million buyers, who use the

platform to find reliable & competitive suppliers. The company has over

4000 employees located across 75 offices in the country. Its existing

investors include Intel Capital and Bennett, Coleman & Co. Ltd.

IndiaMART.com offers products that enable small & medium size

businesses generate business leads (online catalogs/store-fronts),

establish their credibility (third party verified trust profile) and use

business information (finance, news, trade shows, tenders) for their

business promotion.

IndiaMART.com has won numerous awards over the years, which

include coveted Red Herring Award, Emerging India Award, amongothers. The company has also been widely covered by media for its

pioneering role in promoting SME business in the country.

Its existing investors include Intel Capital and Bennett, Coleman &

Co. Ltd (Times Group), India's largest print media group.

IndiaMART Knowledge Services: An in-house unit involved in SME

research, forecasting, analysis and education. It conducts independent

surveys, etc. & holds workshops for SMEs to educate them on specificareas such as Marketing, IT, etc.


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The Board of Directors

Mr. DINESH AGARWAL

FOUNDER & CEO, IndiaMART.com

Dinesh Agarwal is the founder and CEO of IndiaMART.com,

India's largest online B2B marketplace connecting Indian suppliers

with domestic and international buyers. Founded in 1996, Dinesh

is credited with leading IndiaMART.com through a decade and a

half with an unblemished record of being profitable from d ay one

- a feat no other online company in India has been able to emulate.

Mr. BRIJESH AGRAWAL

COO, IndiaMART.com

Brijesh Agrawal is the Chief Operating Officer,

IndiaMART.com. Being a part of the core management team,

Brijesh has been the brainchild behind the creation of a plethora

of innovative products of IndiaMART.

Mr. DEEP KALRA

FOUNDER & CEO, MakeMyTrip.com

Deep Kalra holds rich past experience at GE Capital, AMF

Bowling Inc. and ABN AMRO Bank. He is a member of the

Executive Council of NASSCOM and chairs the NASSCOM Internet

Working Group.

Mr. M. K. Chouhan

MANAGING DIRECTOR, Mahendra & Ardneham Consulting (P) Ltd.

Mr. RAJESH SAWHNEY

PRESIDENT, Reliance Entertainment Private Ltd.


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Core values

For us they are simple and straight; take responsibility, work withpassion and commitment, move ahead as a team and conserve the integrity.

We firmly believe that core values keep organizations stable and focused

to the common goal. Our core values have helped us achieve our mission to

bring measurable benefits to our customers.

Responsibility

Responsibility, not just of quality work but of continuous self-development, of our decisions and of our actions. This helps us think

rationally and provides a sense of accountability to ourselves, our commitment

to customers and to our colleagues.

Passion

Work at IndiaMART.com involves constant innovation and creativity. It

involves a continuous thought process to get tangible benefits to our

customers, taking into account the uniqueness of their purpose. Passionatepeople with a determination to make the difference are the ones who make

this possible.

Team Work

Together we can achieve the impossible" is our belief. Our success is a

result of our team work. Experts from the field of management, marketing, IT,

arts, content & various other disciplines work as a team on every project, every

endeavour. Dedication, passion and teamwork are the true means to ourmission fulfillment.

Integrity

We realize the importance of the job & information we handle. We

understand the responsibility that each member of our team has to shoulder

and we do that with highest levels of trust, honesty and integrity - of purpose

and action.


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Awards & Achievements

Success of our customers is our greatest achievement. Their confidence

in us and our innovation, to give them the best, has got us applauds

from various sources.

IndiaMART.com wins the Red Herring 100 Asia Awards 2008

IndiaMART.com nominated among the top three at Emerging India

Awards 2008

IndiaMART.com's successful business model featured on CNBC India asanalyzed by McKinsey

Bestowed with "Amity Corporate Excellence Award" on the occasion of

the Tenth Business International Horizon INBUSH 2008

Recognized by Business Money (UK's leading financial magazine) for

IndiaMART's ten years of successful contribution to Indian businesses

Declared as India's only profit-making dotcom company byBusiness World (Cover story)

Special footage for IndiaMART.com's contribution in enabling e-

business for exporters from Moradabad; Mr Dinesh Agarwal

interviewed (India Tomorrow - BBC News)

www.indiantravelportal.com bags eighth "BIG" Award from

Britannicaindia.com

IndiaMART.com nominated for Britannica Internet Guide (BIG)

Awards for excellence on Internet

IndiaMART.com listed among Top Indian Websites under

Business-to-Business category by Ecomready Top Indian Site by

www.indiatimes.com


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Termed as 'Online Gateway to Indian marketplace'- The Economic Times

Best Travel Site- www.indiantravelportal.com by India Online: DD

News

Nominated amongst the Top 5 Indian Sites by Microsoft.

QUALITY

IndiaMART is the first Indian company in their domain to have received

ISO 9001:2008 certification for overall quality management and the

organisation's ability to successfully "meet customer, regulatory and statutory

requirements."

QUALITY POLICY

we are committed to provide high quality web services & solutions that

ensure profitable returns to our customers.

We strive to enhance the value delivered to our clients by continually

improving the quality of services offered.

FACT SHEET

We endeavor to maximize value for our customers by offering themefficient and cost-effective solutions for business promotion, process support

and transaction accomplishment.

1996-97

IndiaMART.com, India's first online B2B directory, launched

Successfully introduces free listing & free-query forwarding concept to

familiarize Indian SMEs with benefits of Internet for business promotion

Accomplishes India's first e-commerce project for Nirula's

(http://nirulas.com)


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Achieves break-even within 6 months of the launch

1997-98

Successfully crosses 100 clients mark Initiates franchisee network program

1998-99

Launches Handicraft, Apparel & Finance channels

Increases workforce to 40

B2B marketplace network surges to 1 million page views/month mark

1999-2000

Accomplishes 'Bharat On Line' - MTNL's online portal project

Launches auto industry channel

Opens branch office in financial hub of India - Mumbai

Crosses Rs 1 crore revenue mark

2000-01

Touches 5 million page views/month Crosses 1000 clients mark

Registers 100,000 business queries/month

Accomplishes prestigious online projects for HHEC, Jindal Organization,

ModiCorp

Wins Britannica (BIG) Award for Travel.IndiaMART.com

Profits increased by 128% over last year

Company becoming limited, from InterMESH Systems, to IndiaMART

InterMESH Limited

2001-02

Business World magazine declares IndiaMART.com as "the only

profitable Indian Dotcom, with positive cash flows" [Cover Story: 14 May

2001 issue]

Adds exclusive services to its portfolio - Electronic Trade Offers &

Request for Quotation / Request for Proposal

CNBC India recognizes IndiaMART.com as one of the only profitable

dotcoms in India based on report by McKinsey


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Intel Capital makes strategic investment in IndiaMART.com

Wins 'Emerging India Award 2008' as a second runner-up

Wins 'Red Herring 100 Asia 2008' award

Launches Video Profiles for "Leading Suppliers"

IndiaMART.com footprints cover over 100 towns in India Participates in more than 100 international & 200 domestic trade shows

2009-10

IAMAI declares IndiaMART.com as India's largest online B2B marketplace

Mr. Deep Kalra (Founder & CEO of Makemytrip.com) & Dr. Nachiket Mor

(President, ICICI Foundation) join IndiaMART.com Board of Directors

More than 300,000 products listed on IndiaMART.com

2010-11

Takes a giant leap in SME space & launches 'IndiaMART Leaders of

Tomorrow Awards'

IndiaMART.com member base surges to 1 million suppliers

Celebrates 14 years of grand success

Launches FREE tenders service - a first in India

Being a socially responsible corporate, associates with "Meri Dilli Meri

Yamuna" campaign The SmartTechie ranks IndiaMART.com among India's '25 Most

Promising Internet Cos.'


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PRODUCTS AND SERVICES

Dynamic CatalogA comprehensive online marketing program that provides enhanced enquiry

generation.

Trust Seal

Trust Seal is a business verification service that checks supplier's records of

existence, credibility and trustworthiness for the benefit of buyers.
http://www.indiamart.com/corporate/online-catalog.htmlhttp://www.indiamart.com/corporate/online-catalog.htmlhttp://www.indiamart.com/corporate/trustseal.htmlhttp://www.indiamart.com/corporate/trustseal.htmlhttp://www.indiamart.com/corporate/online-catalog.html


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Star Supplier

With Star Supplier to your support, you can get premium positioning among

suppliers in all the relevant categories.

Leading Supplier

Leading Supplier is the right choice for companies who have a right mix of

infrastructure, management capabilities and experience in servicing global

buyers.

Banner Advertising

Build your brand & drive traffic to your website with Banner Advertising
http://www.indiamart.com/corporate/star-supplier.htmlhttp://www.indiamart.com/corporate/leading-supplier.htmlhttp://www.indiamart.com/corporate/banner.htmlhttp://www.indiamart.com/corporate/banner.htmlhttp://www.indiamart.com/corporate/banner.htmlhttp://www.indiamart.com/corporate/leading-supplier.htmlhttp://www.indiamart.com/corporate/star-supplier.html


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Business Plans

What is business?

Business is all about buying and selling of Product or services. Business

can be done through online and off line.

What is online Business?

Online business means trading of Products and Services etc through the

Internet. It enables the traders and manufacturers to electronically connectwith the other.

What is offline business?

In offline trading the customer either goes to the manufacturers or traders

place and sits before him to place orders. Or rings him, asks for the quotations

and other relevant information, and accordingly places orders over the phone.

BENEFITS OF OFFLINE BUSINESS

o Safer in comparisons to online share business.

o Business can be done without internet connectivity at ones home.

In a country like India where internet connectivity is not available

everywhere trading online is not possible for everyone, this is also the reason

which enhances the growth of offline trading.

o Better for new comers

DISADVANTAGES OF OFFLINE BUSINESS


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o Often times the brokers takes time to execute your instruction.

o Offline trading brokerage is always higher than that of online brokerage.

o It is a time consuming process as everything is done offline. Trading

takes more time in comparisons to online trading.

o RM may not provide the correct information as required by his client.

What is E-Business?

E-tailing, or virtual storefronts on Web sites.

Online business-to-business transactions.

Electronic data interchange (EDI), the business-to-business

exchange of data using compatible software.

E-mail, instant messaging, and other Web-enabled communicationtools and their use as media for reaching prospective and existing

customers.

The gathering and use of demographic, product, and other

information through Web contacts.

Capabilities and Benefits of E-Business

Global Reach : Goods and services can be sold to customers worldwide.

Personalization : Companies can customize products and reduce

inventory.

Interactivity : Customers and suppliers can negotiate prices online.

Right-time and integrated marketing : Online retailers provide products

when and where

Customers want them and promotions can be directed to individual

customers.

Cost savings : E-business can reduce costs.

Increase a firms visibility, promote its offerings, and provide information

to interested parties.

Build customer goodwill and assist retailers and other resellers in theirmarketing efforts.


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Disseminate financial information to investors.

Enable prospective employees to apply online for jobs.

Provide e-mail communication.

Business-to-Business (B2B)

Business-to-business e-business (B2B) Electronic business transactions

between businesses using the Internet.

B2B transactions total $2.5 trillion.

By some estimates, account for 90% of all e-commerce activities.

Can reduce cost of B2B transactions by almost 25 percent.

Many of the benefits of e-commerce have come with business-to-business

transactions. Companies like UPS and the Post Office use their websites to

save money and time by doing business online. Companies use a variety of

tools to conduct business online with partners, wholesalers and retailers.

Online Shopping and B2C

Business-to-consumer (B2C)

E-tailing accounts for 4% of all U.S.

Growing at a rate of 18%.

Services like banking and brokerage are key aspects of e-tailing

Many retailers have electronic storefronts.

Growth of broadband is aiding e-tailing.

Selling to customers directly over the Internet.

There are millions of good for sale online. There are as variety of retail stores

that make the Internet one big cybermall.

Who are online buyers and sellers?

Typical user is young, highly educated, urban or suburban, and affluent.

Demographics are shifting; there is decreasing difference in Internet purchasing

habits among groups.


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Benefits of B2C E-Business

Lower Prices

Many products cost less online.

Internet allows customers to easily compare prices from multiple sellersconvenience.

Can order products from around the world anytime, day or night.

Can register customer information to streamline transactions.

Personalization

Emphasis on personalized, one-on-one marketing to increase repeat

purchases.

Developing Safe Online Payment Systems

Through encryption, data is encoded for security purposes.

Many companies use Secure Sockets Layer (SSL) technology to encrypt

information and verify

senders and receivers.

An electronic wallet contains credit card and identification information.

Customers can avoid

retyping purchase information.

E-Business Challenges (privacy)

Privacy is among the top concerns of Internet users.

E-business sites often require passwords and use electronic signatures,

an electronic form of identity verification.

Companies can track customers shopping and viewing habits through

cookies.

Customers usually prefer that companies do not share their personalinformation. Merchants have responded by joining privacy

organizations.

Privacy protections may soon become legally required.

Employees also have concerns that employers are monitoring their

Internet behavior.

Companies worry about data theft.

In addition to credit card transactions online, privacy is a growing

concern for consumers. Consumers worry that the information about them will


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be available to others without their permission. Although online shopping is

growing, consumers are very concerned about providing credit cards and

personal information online.

E-Business Challenges (Internet Fraud)

Internet Crime Complaint Center logs more than 200,000 complaints

annually.

50% of the complaints referred to law enforcement agencies deal with

online auctions.

Phishing is a growing form of Internet fraud that uses e-mail or pop-up

messages to get unsuspecting victims to disclose personal information.

Vishing, or voice phishing, involves phone calls to credit card customersto obtain personal and banking information.

Payment fraud is growing E-Business Challenges (poor website design)

50% of shopping carts are abandoned before any purchase is made.

Lack of Information

Inability to find the information they need

Feeling overwhelmed by too much information

Companies that have brick-and-mortar experience often have better

success satisfying customers than Internet-only retailers.

Online sales can compete with business partners such as retailers and

distributors causing disputes called channel conflict.

Using the Webs Communication Function

Web has four main functions: e-business, entertainment, information,

and communication.

Communication is Webs most popular function.

Firms use e-mail to communicate with customers, suppliers, and otherpartners.

Online Communities: Internet forums, newsgroups, electronic bulletin

boards, and Web communities that appeal to people who share

common interests.

Spam is junk e-mail.

Web Communication Blogs

Blog - short for Web log, an online journal written by a blogger.


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May incorporate wikis, a Web page that anyone can edit.

Some incorporate podcasts, video & audio recordings. Feedburner

services more than 200,000 podcasts.

Corporate blogs can help build brand trust.

Example: Apples iLounge builds the iPod brand and gives Apple ideas forproduct improvement.

Employee blogs may present ethical issues

Blogs have become increasingly popular. People have combined the use

of blogs with other technologies like wikis and podcasts. Wikis allow all

users to edit the pages while podcas are audiots and video content.

Many organizations are beginning to use blogs as a way to build brand

loyalty but some blogs can be problematic. Disgruntled employees can

destroy a companys reputation.

Web Communication Web Based Promotion

Banner Ads : messages placed on frequently visited websites

Pop-up Ads : ads that appear in separate windows

Pre-roll Video Ads : advertisements that roll as soon as a page is loaded

Search marketing : companies pay for top visibility in search results

Some companies, such as ValPak Marketing Systems, offer virtual,

searchable coupons.

Global Environment of E-Business

Future growth of many companies is linked to a global strategy that

incorporates e-business.

U.S. leads world in Internet users but ranks only 5th in Internet

penetration.

E-Bay may dominate most markets, but Chinese company Alibaba.comhas 83% of the auction business in China.

E-business can heighten competition in the global marketplace

Why B2B Marketplaces?

Largest aggregation of B2B Buyers - more than 30% of these are here

Hassle free way to generate business leads fully managed

Try for free Pay for premium

Do it all, right from your desktop


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Free Services

Business / ProductCatalog Unlimited Products

Trade Leads Business Tenders

Enquiry Alerts on SMS / Call from Buyers on Mobile

Videos

Industry, Trade Shows & Business Information Updates

The first step towards internet marketing & lead generation

Unlimited Products photos & videos

Higher the no. of products, higher the no. of leads

200,000 Indian companies having 2 million products, already have theircatalog on IndiaMART.com alone.

Business / Product Catalog

Trade Leads

The easiest way to generate 1 lead every week

Post unlimited product specific offers with picture

Importance of push-to-top 10 times better results

More than half-a-million offers live on IndiaMART.com alone

SWOT analysis of indiamart.com

Strengths

The most powerful point in hand of the company is that they provide the

customized solution to the customers.

The company has excellent distribution system.

The company has built a strong image among the customers.

The company experiences excellent Brand loyalty for its Products from

the customers.

The company has made its Product range attractive, which lures the

customers, and consequently

Weaknesses


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Some products have high prices as compared to the other products.

The company pays less attention towards the matured clients

Opportunities

India has a vast potential market, which the company can get hold up.

The company can prove to be major threats for its competitors if it

increases marketing efforts.

IIL should concentrate on the premium segment market.

Threats

The major threat that company faces is from its competitors who are

introducing products with lower cost backed by aggressive promotional

schemes to attract the customer.

The arrival of the MNC is a major serious threat for the company.


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REVIEW OF LITERATURE

Customer

The word customer is derived from "custom," meaning "habit"; a

customer was someone who frequented a particular shop, who made it a habitto purchase goods of the sort the shop sold rather than elsewhere, and with

whom the shopkeeper had to maintain a relationship to keep his or her

"custom," meaning expected purchases in the future.

However, "customer" also has a more generalized meaning as in

customer service and a less commercialized meaning in not-for-profit areas. To

avoid unwanted implications in some areas such as government services,

community services, and education, the term "customer" is sometimes

substituted by words such as "constituent" or "stakeholder".

This is done to address concerns that the word "customer" implies a

narrowly commercial relationship involving the purchase of products and

services. However, some managers in this environment, in which the emphasis

is on being helpful to the people one is dealing with rather than on commercial

sales, comfortably use the word "customer" to both internal and external

customers.

Types of customer

There are six types of customers.

External Customer.

These are the people and organizations who have a need for your

product or service. They purchase your stuff in exchange for money. They have

a budget and will give you some of it in exchange for a solution that meetstheir needs and expectations.

Given that, I affectionately refer to external customers as ones with the

bag of money. They have the financial autonomy to decide where and how

they will spend their budget the bag of money. The question is who gets the

bag of money, you or your competitor? Who has earned the confidence and

trust of the customer?


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You and your competitor are vying for a piece of their budget the best

solution wins. Know this: Customers vote with their money and complain with

their feet.

Allies.

These are the users of your product or service, not the ultimate decision

maker.

These customers usually don't have a bag of money but they play a vital

role in your success. They do not make the final decision but they may have

tremendous impact on the outcome. They are often closely connected to the

bag of money and positioning them as an ally to your cause is critical for your

success.

However, allies can be a tremendous wealth of information. Pick their

brains and learn how you can differentiate yourself from the competition.

Customers buy differences, not similarities.

It can sometimes be difficult to ascertain who the bag of money is and

who the allies are. Ask questions early in the call to determine who's who in

the zoo. Shrink your sales cycle by understanding the players within youraccounts. Simply ask them who else may be involved with decisions.

Internal Customer.

These are fellow employees and managers within your place of business.

They support you and make you look good to your external customers.

Appreciate them and treat them with respect.

Unfortunately, they are often the victims of the blame fest. Poor internalrelationships can have fatal consequences for your external customers. I

recently saw an anonymous quote that supports my point. "We have less to

fear from outside competition than from inside conflict, inefficiencies,

discourtesy, and bad service." So true.

They want to fix the problem. It's up to you to quarterback all of the

company's resources to resolve their problem. When you work in harmony

with your internal customers, external customers become the beneficiary of

your internal relationships.


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Be aware too of your own personal internal customers, such as family,

spouse, and parents. View your kids, spouse, or significant other as your

personal internal customers. They also deserve respectful treatment.

Repeat Customer.

They are the jewels of your business. Do the job well the first time and

you often get rewarded with another opportunity to serve them. And guess

what? They give you more money! You may have heard that it costs up to five

times as much to replace a customer as it does to keep one.

So, keep them happy. Under promise and over deliver.

Born-Again Customer.

These are previous customers who no longer do business with you.

For some reason they have forgotten about you or they are still upset

with you. Dig up their file, give them a call, and settle any outstanding

grievance. Put your ego aside and offer restitution to satisfy the customer.

They often become loyal customers provided you resolve the problem to

their satisfaction. As you work with your customers, you will find theSequential Model is applicable to all six types.

Remember, Pay particular attention to your internal customers.

Bag of Wind.

You guessed it, these people have little or no impact on the decision.

They are often an easy point of entry into an account but they seldom

contribute to the sales process. In fact they do more harm than good bycreating a false sense of authority.

There is nothing worse than wasting valuable selling hours on people

who cannot help advance the sale. They may also provide clarity as to who the

allies are and who the bag of money is.

Knowing these people can prove to be a huge advantage; knowledge is

power.


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Customer Segmentation

In the snowmobile example, the served market consisted of one

segment but conceivably, the served market. Could be much broader in scope.For example, the company could decide to serve all industrial customers (large,

medium, small) by offering diesel-driven snowmobiles for delivery use. The

broader served market, however, must be segmented because the market is

not homogeneous; that is, it cannot be served by one type of product/service

offering.

Currently, the United States represents the largest market in the world

for most products; it is not a homogeneous market, however. Not all

customers want the same thing. Particularly in well-supplied markets,

customers generally prefer products or services that are tailored to their

needs. Differences can be expressed in terms of product or service features,

service levels, quail levels, or something else.

In other words, the large market has a variety of submarkets, or

segments, that vary substantially. One of the crucial elements of marketing

strategy is to choose the segment or segments that are to be served. This,

however, is not always easy because different methods for dissecting a marketmay be employed and deciding which method to use may pose a problem.

Virtually all strategists segment their markets.

Typically, they use SIC codes, annual purchase volume, age, and income

as differentiating variables. Categories based on these variables, however, may

not suffice as far as the development of strategy is concerned. RCA, for

example, initially classified potential customers for color television sets

according to age, income, and social class. The company soon realized that

these segments were not crucial for continued growth because potentialbuyers were not confined to those groups.

Later analysis discovered that there were innovators and followers in

each of the above groups. This finding led the company to tailor its marketing

strategy to various segments according to their innovativeness. Mass

acceptance of color television might have been delayed substantially if RCA

had followed a more traditional approach. An American food processor

achieved rap success in the French market after discovering that modernity


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Frenchwomen liked processed foods while traditional French house wives

looked upon them as a threat.

A leading industrial manufacturer discovered that its critical variable was

the amount of annual usage per item, not per order or per any otherconventional variable. This proved to be critical since heavy users can be

expected to be more sensitive to price and may be more aware of and

responsive to promotional perspectives.

Segmentation aims at increasing the scope of business by closely

aligning a product or brand with an identifiable customer group.

Take, for example, cigarettes. Thirty years ago, most cigarette smokers

chose from among three brands: Camel, Chesterfield, and Lucky Strike. Today

more than 160 brands adorn retail shelves. In order to sell more cigarettes,

tobacco companies have been dividing the smoking public into relatively tiny

sociological groups and then aiming one or more brands at each group.

Vantage and Merit, for example, are aimed at young women; Camel and

Winston are aimed mostly at rural smokers. Cigarette marketing success hinges

on how effectively a company can design a brand to appeal to a particular type

of smoker and then on how well it can reach that smoker with sharply focused

packaging, product design, and advertising.

What is true of cigarettes applies to many, many products; it applies

even to services. Banks, for example, have been vying with one another for

important customers by offering innovative services that set each bank apart

from its competition. These illustrations underscore not only the significance of

segmenting the market but also the importance of carefully choosing

segmentation criteria.

Segmentation criteria

Segmentation criteria vary depending on the nature of the market. In

consumer goods marketing, one may use simple demographic and

socioeconomic variables, personality and lifestyle variables, or situation

specific- events (such as use intensity, brand loyalty, and attitudes) as the

bases of segmentation.

In industrials marketing, segmentation is achieved by forming end use

segments, product segments, geographic segments, common buying factor


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segments, and customer size segments. For a detailed account, however,

reference may be made to a textbook on marketing management.

In addition to these criteria, creative analysts may well identify others.

For example, a shipbuilding company dissects its tanker market into large,medium, and small markets; similarly, its cargo ship market is classified into

high-, medium-, and low-grade markets.

A forklift manufacturer divides its market on the basis of product

performance requirements. Many consumer- goods companies, General

Foods, Procter & Gamble, and Coca-Cola among them, base their segments on

lifestyle analysis. Data for forming customer segments may be analyzed with

the use of simple statistical techniques (e.g., averages) or multivariate

methods.

Conceptually, the following procedure may be adopted to choose a

criterion for segmentation:

1. Identify potential customers and the nature of their needs.

2. Segment all customers into groups having

Common requirements.

The same value system with respect to the importance of these

requirements.

3. Determine the theoretically most efficient means of serving each market

segment, making sure that the distribution system selected

differentiates each segment with respect to cost and price.

4. Adjust this ideal system to the constraints of the real world: existingcommitments, legal restrictions, practicality, and so forth. A market can also be

segmented by level of customer service, stage of production,

price/performance characteristics, credit arrangements with customers,

location of plants, characteristics of manufacturing equipment, channels of

distribution, and financial policies.

The key is to choose a variable or variables that so divide the market

that customers in a segment respond similarly to some aspect of the

marketers strategy. The variable should be measurable; that is, it should


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represent an objective value, such as income, rate of consumption, or

frequency of buying, not simply a qualitative viewpoint, such as the degree of

customer happiness.

Also, the variable should create segments that may be accessiblethrough promotion. Even if it is feasible to measure happiness, segments

based on the happiness variable cannot be reached by a specific promotional

medium. Finally, segments should be substantial in size; that is, they should be

sufficiently large to warrant a separate marketing effort.

Once segments have been formed, the next strategic issue is deciding

which segment should be selected. The selected segment should comply with

the following conditions:

1. It should be one in which the maximum differential in competitive strategy

can be developed.

2. It must be capable of being isolated so that competitive advantage can be

preserved.

3. It must be valid even though imitated.

Customer service

Customer service is the provision of service to customers before, during

and after a purchase.

According to Turban et al. (2002), Customer service is a series of

activities designed to enhance the level of customer satisfaction that is, the

feeling that a product or service has met the customer expectation." Its

importance varies by products, industry and customer; defective or broken

merchandise can be exchanged, often only with a receipt and within a

specified time frame.

Retail stores will often have a desk or counter devoted to dealing with

returns, exchanges and complaints, or will perform related functions at the

point of sale; the perceived success of such interactions being dependent on

employees "who can adjust themselves to the personality of the guest".

From the point of view of an overall sales process engineering effort,

customer service plays an important role in an organization's ability to

generate income and revenue. From that perspective, customer service should

be included as part of an overall approach to systematic improvement.


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A customer service experience can change the entire perception a

customer has of the organization. Some have argued that the quality and level

of customer service has decreased in recent years, and that this can be

attributed to a lack of support or understanding at the executive and middle

management levels of a corporation and/or a customer service policy.

To address this argument, many organizations have employed a variety

of methods to improve their customer satisfaction levels.

PROBLEM FORMULATING STAGE

During the research the survey of the market in Bangalore has been

done and then result was found that company and its owners are doing their

job more efficiently but still the company is lacking to make its customer fully

satisfied.

The existing customers are not having so much of problem but the new

customers are facing the problem. The problem is related to brokerage rate,

expert knowledge, problem solving etc. Because of high account opening

charge in the market customer are not ready to open an account.

LITERATURE SEARCH

It has been found that if company want to expand its market share and

to increase the customer then it should have to focus on product and services

promotion apart from brand promotion.

The company will have to satisfy its customer in an appropriate way so

that they will become loyal customer and they will also help to increase to

increase the number of customer through their valuable references. The

company should launch some good schemes & lower broking charges. It shouldprovide training to customers and also show the demo etc.

DATA EVALUATION

After collecting and analyzing the data understanding has been made

that in this era of marketing where the market is full of competitors IndiaMart

should have to do something innovative and creative in order to give tough

competition to the top broking companies.


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As we know that CUSTOMER IS THE KING. It means anyhow company

will have to make its customer happy, satisfied and delight to make more and

more profit and leave the competitors behind.

PROBLEM STATEMENT

Analysis of Customer Satisfaction at Indiamart and to check the awareness

among the customers about Indiamart and its products/services.


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RESEARCH METHODOLOGY


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OBJECTIVE OF THE STUDY

To find out about the awareness of the clients about online B2B market

and the services offered by Indiamart.

To find out the satisfaction level of the customers of Indiamart.

To learn the whole process involved in working of Indiamart.

RESEARCH METHODOLOGY

Marketing Research is the systematic & objective identification,

collection, analysis, dissemination & use of information for the purpose of

improving decision making related to the identification & solution of problems

& opportunities in Marketing.

A research process consists of stages or steps that guide the project

from its conception through the final analysis, recommendations and ultimate

actions. The research process provides a systematic, planned approach to the

research project and ensures that all aspects of the research project are

consistent with each other. Research studies evolve through a series of steps,each representing the answer to a key question.

RESEARCH DESIGN

Research design is a conceptual structure within which research was

conducted. A research design is the detailed blueprint used to guide a research

study towards its objective. It is a series of advanced decision taken together

comprising a master plan or a model for conducting the research in

consonance with the research objectives. Research design is needed because it

facilitates the smooth sailing of the various research operations, thereby

making research as efficient as possible yielding maximum information with

the minimum effort, time and money.

( I ) Exploratory Research

To gather preliminary information that will help define problems and suggesthypotheses. (Uses Secondary Data & Focus Groups)


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( II ) Conclusive Research

Descriptive Research

To describe things, such as the market potential for a product or the

demographics & attitudes of consumers who buy the product.

Experimental Research : (Causal Research)

To establish the cause-and-effect relationships

RESEARCH PROCESS

The research process has five distinct yet interrelated steps for research

analysis.

1. Define the information needed.

2. Design the Exploratory, Descriptive and/or Causal phases of the Research.

3. Specify the measurement and scaling procedures.

4. Construct and pretest a Questionnaire (interviewing form) or an appropriate

form for Data Collection.5. Specify the Sampling Process & Sample Size.

6. Develop a plan of Data Analysis.

Each step is viewed as a separate process that includes a combination of

task, step and specific procedure. The steps undertake are logical, objective,

systematic, reliable, valid, impersonal and ongoing.

EXPLORATORY RESEARCH

The method I used for exploratory research was Primary Data, Secondary data

PRIMARY DATA

New data gathered to help solve the problem at hand. As compared to

secondary data which is previously gathered data. An example is information

gathered by a questionnaire.


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Qualitative or quantitative data that are newly collected in the course of

research Consists of, original information that comes from people and includes

information gathered from surveys, focus groups, independent observations

and test results. Data gathered by the researcher in the act of conducting

research.

This is contrasted to secondary data, which entails the use of data

gathered by someone other than the researcher information that is obtained

directly from first-hand sources by means of surveys, observation or

experimentation.

My proposal is to first conduct a intensive secondary research to

understand the full impact and implication of the industry, to review and

critique the industry norms and reports, on which certain issues shall be

selected, which I feel remain unanswered or liable to change, this shall be

further taken up in the next stage of exploratory research.

DESCRIPTIVE RESEARCH

STEPS in the descriptive research

Statement of the problem Identification of information needed to solve the problem

Selection or development of instruments for gathering the information

Identification of target population and determination of sampling Plan

Design of procedure for information collection

Collection of information

Analysis of information

Generalizations and/or predictions

DATA COLLECTION

Data collection took place with the help of filling of questionnaires. The

questionnaire method has come to the more widely used and economical

means of data collection.

The common factor in all varieties of the questionnaire method is this

reliance on verbal responses to questions, written or oral. I found it essential

to make sure the questionnaire was easy to read and understand to allspectrums of people in the sample.


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It was also important as researcher to respect the samples time and

energy hence the questionnaire was designed in such a way, that its

administration would not exceed 4-5 minutes.

SAMPLE SIZE

This involves figuring out how many samples one need. The numbers of

samples you need are affected by the following factors:

Project goals

How you plan to analyze your data?

How variable your data are or are likely to be?

How precisely you want to measure change or trend?

The number of years over which you want to detect a trend?

How many times a year you will sample each point?

How much money and manpower you have?

I have targeted 50 people/Customers for the purpose of the research.

The target population influences the sample size. The target population

represents Bangalore.

LIMITATION OF THE STUDY

Total 50 sample size has been taken for the study.

This study was based on questionnaire method. So there is chances of

bias

The results are based on probability basis. The result may vary from time

to time

The study has been done only from one store/location covering small

part of Bangalore.


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DATA ANALYSIS AND INTERPRETATION


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1. Awareness of the companies which provide online promotion/marketing

(online B2B) services.

Interpretation:

When asked about the awareness of online promotional and marketing

services providers 60% responded with Indiamart.com followed by other

providers. Thus brand awareness of Indiamart is very high.

2. Money spent to market product/service annually on Internet.

Interpretation:

When asked about annual expenditure of company on online promotion. 40%

responded with 30000 and more, next highest was between 20000-30000 with

36%

3. Level of promotion of the product/company.

60%10%

10%

10%

4%

6% Indiamart.com

Tradeindia.com

Exportersindia.com

Alibaba.com

Madefromindia.com

Indianyellowpages.com

4%

20%

40%

36%Less than Rs.10000

Rs.10000-20000

Rs.20000-30000

Rs.30000 and More


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Interpretation:

70% of the respondents wanted local level promotion of product/company

because most of the respondents were local ones without any branch in other

cities. 20% wanted national level promotions.

4. Awareness about online Exhibition/ trade shows.

Interpretation:

80% of the respondents were aware about online trade shows and exhibitions.

5. Reason to advertise in online Trade shows.

70%

20%10%

Local

National

Global

80%

20%

Yes

No


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Interpretation:

When asked about reasons to advertise in online trade shows, 50% respondentthat it gives maximum exposure in nowadays market scenario.

6. Awareness of Indiamart.com services like existence verification, credibility

factors and statutory approvals and online promotion services.

Interpretation:

90% of the respondents were aware about the various services offered by

Indiamart.com. Only 10% were unaware.

7. Benefits from the internet to the business.

10%

20%

10%

10%

50%

Maximum exposure through

international distribution

Global buyers preferred choice

Minimum cost per business

enquiry

International quality print, paper

and design

90%

10%

Yes

No


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Interpretation:

When asked about the benefits from internet to their business. 30% responded

that it gives opportunity to showcase entire range of products to prospective

customers. 20% each responded being available to buyers 24/7 and low client

acquisition cost.

8. Satisfaction with the pricing of the products/services.

Interpretation:

50% of the respondents were satisfied with the pricing of products/services of

Indiamart.com. But 32% were dissatisfied as well.

10%10%

20%

20%

10%

30%

Tap new markers across the world

Reach potential buyers from over

200 countries

Lowest client acquisition cost

Be available to buyers 24 x 7

Get a global presence

Showcase an entire range of

products

32%

18%

50%

Dissatisfied

Neither dissatisfied

nor satisfied

Satisfied


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9. Satisfaction with the products/services of Indiamart.com through its

website.

Interpretation:

80% of the respondents were satisfied with the products/services of Indiamart.

Only 8% were dissatisfied.

10. Satisfaction with the complaint handling process.

Interpretation:

60% of the respondents were satisfied with the complaint handling process of

Indiamart. 24% were dissatisfied with complaint handling.

11. Satisfaction with Indiamart sales person/executives knowledge.

8%12%

80%

Dissatisfied


nor satisfied

Satisfied

24%

16%60%

Dissatisfied


nor satisfied

Satisfied


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Interpretation:

70% of the respondents were satisfied with the sales executives of Indiamart.

i.e. their knowledge of products and services and their personality. 20% were

dissatisfied.

12. Satisfaction with other benefits like online trade shows of Indiamart.

Interpretation:

80% of the respondents were satisfied with other benefits offered by

Indiamart like online trade shows etc, i.e. the trade shows have helped their

businesses. 16% of the respondents were not satisfied.

20%

10%

70%

Dissatisfied

Neither dissatisfiednor satisfied

Satisfied

16% 4%

80%

Dissatisfied


nor satisfied

Satisfied


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Customer Satisfaction on various factors in decreasing order of percentage.

Satisfaction with other benefits like online trade shows of Indiamart 80%Satisfaction with the products/services of Indiamart through its website 80%Satisfaction with Indiamart sales person/executives knowledge 70%Satisfaction with the complaint handling process 60%Satisfaction with the pricing of the products/services 50%


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FINDINGS AND

RECOMMENDATIONS


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FINDINGS

It was found that the brand awareness of Indiamart is high compared to

others as 60 % of respondents told that they are aware about Indiamart. 76%of the respondents spent 20000 or more on their online promotional activities.

70% of the respondents want local level promotion of product/company

because most of the respondents were local ones without any branch in other

cities. 80% of the respondents were aware about online trade shows and

exhibitions. 50% respondent think that that it gives maximum exposure in

nowadays market scenario thats why they want to advertise in online trade

shows. It was found that 30% of respondent think that internet gives

opportunity to showcase entire range of products to prospective customers,

20% each think that internet helps in being available to buyers 24/7 and low

client acquisition cost. Thus there is scope for improvement i.e, more

awareness can be build up by Indiamart. Indiamart should redesign its

promotional strategies to capture more market.

It was found that 50% of the respondents were satisfied with the pricing of

products/services of Indiamart.com. It was found that most of the customers

i.e, almost 90% are aware about the various services offered by Indiamart.com.

80% of the respondents were satisfied with the products/services of Indiamart.

70% of the respondents were satisfied with the sales executives of Indiamart.

i.e. their knowledge of products and services and their personality. 60% of the

respondents were satisfied with the complaint handling process of Indiamart.

80% of the respondents were satisfied with other benefits offered by

Indiamart like online trade shows etc, i.e. the trade shows have helped their

businesses. The satisfaction can be further improved in the areas of pricing,

complaint handling and the sales executives.

With the help of secondary data that is various books and articles related to

Indiamart and its working and also going for field work during my project work,

I was able to learn about the working process of Indiamart.


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RECOMENDATION

The IndiaMart is lacking in the areas of services promotion, it should

redesign its promotional strategies to capture more market. The company

should increase the number of advertisement through various media to remind

present as well as to aware new customer about its services.

The company should lower its brokerage charge in order to gain more

customers. Rs 24000 promotion charges are too high when targeting a

corporate so the company should be flexible on this amount.

Make the complaint process easy so that there is a scope of

improvement to identify regions where promotions are required. The companyshould solve the problems of the customers quickly because delay in this will

make them dissatisfied and they will not provide the reference of any

customers.

After sales services and follow up calls are important for getting new

references so trained telesales should be appointed for this purpose whose

sole work should be to make feedback calls. This will result in additional

customer base by getting further references from satisfied clients.

The company should organize seminars for new as well as existing

customer in order to make existing customer delight by providing some gifts.

This will act as a customer acquisition program.


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CONCLUSION


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CONCLUSION

The main purpose of the Project was to gain practical knowledge and

apply our skills in practical and real environment.

It is the time when we have to sharpen our skills, abilities and knowledge

which would help me in getting final placement.

In Indiamart.com, I have got an opportunity to explore my potential. By

preparing extensive research reports we have attained fundamental

knowledge of online promotional services, its scope and its importance in

coming years.

I have also come across various technicalities related to online

promotional services. I understood the concept of online promotional

services, types of schemes available in online marketing.

I got the chance to understand concept of B2B portals, online marketing and

mass advertising and also how to develop and maintain corporate relationship,

etc.

I am very confident that after completing my Project in Indiamart.com

Company I would have mastered in various online promotional services.


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BIBLIOGRAPHY

BOOKS

Marketing Management: - PHILIP KOTLER 13th Edition, 2009, PrenticeHall of India Ltd., New Delhi.

Marketing Management:- V.S RAMASWAMY AND S. NAMAKUMARI

Marketing Research: - DR. C.R. KOTHARI

NEWSPAPER AND MAGAZINE

Business World

The Economic Times

Business Standard

Business line

WEBSITES

www.IndiaMart.com

www.google.com

www.investopedia.com

www.wikipedia.com


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QUESTIONNAIRE

1. Are you aware of the companies which provide online promotion/marketing (online B2B)

services?

2. How much amount of money you spend to market your product/service annually on

Internet?

-20000-30000

3. At which level would you like to promote your product?

4. Are you aware about online Exhibition/ trade shows?

5. Why would you like to advertise in online Trade shows?

International quality print, paper and design

6. Are you aware that Indiamart.com provides services like existence verification, credibility

factors and statutory approvals and online promotion services?

7. Benefits which would you like to reap from the internet?

Get a global presence


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8. Are you satisfied with the pricing of the products/services?

9. Are you satisfied with the products/services of Indiamart.com through its website?

10. Are you satisfied with the complaint handling process?

11. Are you satisfied with Indiamart sales person/executives knowledge?

12. Are you satisfied with other benefits like online trade shows of Indiamart?

nor satisfied

mktg project (1)

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