Religare Financial Summer Project

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A project report

on

Customer Relationship Management in Religare

Securities with special reference to equities Equities -

Summer Training Project Report

Submitted in the partial fulfillment of the requirements

For the degree of MASTERS OF BUSINESSADMINISTRATION

By DEPARTMENT OF BUSINESS

ADMINISTRATION

PUNJAB COLLEGE OF TECHNICAL EDUCATION

BADDOWAL (Ludhiana) AFFLIATED TO PUNJABTECHNICAL UNIVERSITY, JALANDHAR


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CERTIFICATE

This is to certify that the project CustomerRelationship Management in Religare securities

with special reference to equities submitted in the partial fulfillment of the requirement for

the degree of Master in Business Administration of the Punjab College of Technical

Education, Baddowal is abonafide research work carried out by ,

under my supervision and that no part of this research project has been submitted for any

other degree.

The assistance and help received during the course of this investigation has been fully

acknowledged.

Dated:

Training Advisor

Faculty PCTE, Baddowal,

Ludhiana.


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ACKNOWLEDGEMENT

Any person can never do work of this nature alone. This formal piece of acknowledgement

may not be sufficient to express the feeling of gratitude and affection for those who wereassociated with the project and without whose co-operation and guidance this project could

not have been conducted properly.

It is a matter of great pleasure for me in submitting the project report on Customer

Relationship Management in Religare Securities with Special Reference to Equity in the

partial fulfillment of the requirement of my course from PUNJAB COLLEGE

OFTECHNICAL EDUCATION, BADDOWAL. It is my profound privilege to thankfully

acknowledge the inspiring co-operation extended to me by all the staff members for the

successful completion of my project.

My first word of thanks goes to . Branch Manager, Religare Securities, CP

New Delhi for giving me an excellent chance to undergo training in a reputed and prestigious

brokerage firm of India.

I further, am in deep gratitude to ., Senior Relationship Manager for His

kind support and guidance in marshalling my knowledge to the shaping of and the Becoming

of the project & other staff members of Religare for their kindness and Valuable guidance

and assistance, which helped me in the completion of my summer Training. 3


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ABSTRACT

Ever since we have attained independence we have been attaining some sort of nourishment

in one field or another. Finance is the backbone of every country and India is no exception.Being the country it is have lot of pressure of population and that burden has to be born by

the earning population of the country. Indian financial market has been progressing leaps and

bounds in last decade or so.

World see India as the emerging power of the planet and Indian finance has major role to

play in letting the country in this great position. Share market is the breathing zone of Indian

financial market. Every Indian company which has some significance with lot of people has

been listed in the stock exchange and has been affecting country.

Broking firms play a major role in the smooth functioning of the Stock Market becauseinvestors trade through these broking firms. So because of lots of opportunity in this sector

with that is competition. More and more companies are entering into this sector, so to

maintain and acquire the client base it requires good marketing strategies on the companies

part.

It must be kept in mind that major share of investors are price sensitive and they decide the

investment options and the options to trade trough on the basis of cost effectiveness.

(Signature of major advisor) (Signature of student)


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TABLE OF CONTENT

Introduction to Brokerage industry

1.1 Primary Market

1.2 Secondary Market

1.3 Evolution of the Indian Brokerage Market

1.4 Development in the Brokerage Industry

1.5 Industry Insight

1.6 Main players in the brokerage industry are

Introduction to Religare Enterprise Limited

2.1Historical Background Of The Group

2.2Vision & Mission

2.3Now What Does RELIGARE Mean?

2.4 Key Events and Milestones

2.5Organization Structure

2.6 Central Leadership Team

2.7 Board of Directors - Religare Enterprises Limited

2.8 Addresses

2.9 Religare Global Presence

2.10 Following are the companies Under Religare Enterprise Limited

3. Religare Securities Limited

3.1 Products and services

3.2 Key Executives

3.3 SWOT Analysis Of Religare Securities Ltd

FINANCIAL ANALYSIS

4.1Profit and Loss Account

4.2Balance Sheet

4.3 Financial Statement Analysis

4.4 Trend Analysis Part


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Introduction to the project

1.1 Customer relationship management

1.2 Need of the study

2.1 Review of Literature

2.2 Title

2.3 Objectives of Research Methodology

3.1 Scope of the research project

3.2 Type of Research

3.3 Method of Data collection

3.4 Sample Design

3.5 Limitations of the Study

Data analysis and interpretation Table

4.1 Profession In which respondent is engaged

Table 4.2 Time period of investing.

Table 4.3 Reasons For Investing

Table 4.4 Awareness of Customer relationship marketing policies

Table 4.5 Customer Relationship marketing Policies. 81 Table 4.6 Choose any 3 Customer

relationship Practices

Table 4.7 Reason for Religare to follow these practices

Table 4.8 (a) Satisfaction Level for Staff Efficiency

Table 4.8 (b) Satisfaction Level for Redressing of complaints

Table 4.8 (c) Satisfaction Level for Timely Responses

Table 4.8 (d) Satisfaction Level for Updated information

Table 4.8 (e) Satisfaction Level for Clarity of concept

Table 4.9 Influence of Customer Relationship Practices in further Investing

Table 4.10 Recommend to others

Table 4.11 Experience in Stock market

Results and findings

Recommendations


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Conclusion

Bibliography/References

Questionnaire


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INTRODUCTION TO BROKERAGE INDUSTRY

Globalization has proved to be a boon for the Indian economy. After globalization there has

beena tremendous growth in the Indian economy. Every sector of the economy has shown anoutstanding performance after globalization. Earlier Trading was confined in limited

boundaries but now the scenario has been totally different after the entrance of online trading.

There is a cut throat competition between the broking houses. Now the brokers are more

concerned about their customers to improve their performance.

The sector is undergoing fundamental changes that have diluted its traditional role of

protecting small deposits against capital and income risk and facilitating the conversion of

Savings into investment. Also there have been a drastic increase in the volume of share traded

on stock exchange and with that the online trading has shown Bull Run. The Indian

Brokerage Industry consists of companies that primarily act as agents for the buy inland

selling of securities (e.g. stocks, shares, and similar financial instruments) on a commissioner

transaction fee basis. Hence, to understand this industry we have to study Security Market:

Security market has two main interdependent segments:

1- Primary Markets

The primary is that part of the capital markets that deals with the issuance of new securities.

Companies, governments or public sector institutions can obtain funding through the sale of

anew stock or bond issue. This is typically done through a syndicate of securities dealers. The

process of selling new issues to investors is called underwriting. In the case of a new stockissue, this sale is an initial public offering (IPO). Dealers earn a commission that is built into

the price of the security offering, though it can be found in the prospectus.

In primary market certain companies issue their shares directly to the public, collect

applications and after sorting out the good issues, they put in their applications. The share

brokers get their brokerage on the transactions made.

2- Secondary Market

The secondary market is that market in which trading is done of securities that have already

been issued in an initial private or public offering. The secondary market comprises of

brokerage that a broker earns in the buying and selling of companies that are listed in the

stock exchange. These stock brokers are in charge of the conformation and carrying out of

transactions. Orders are taken and executed on behalf of the clients. The fluctuation of rates

in the share market makes the activity in a trade market a dynamic process. It is necessary for

a broker to have adequate knowledge about the economic and political factors as they affect

the share market.

Evolution of the Indian Brokerage Market The Indian broking industry is one of the oldest

trading industries that had been around even before the establishment of the BSE in 1875.

Despite passing through a number of changes in the post liberalization period, the industry


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has found its way towards sustainable growth. The evolution of the brokerage market is

explained in three phases: pre1990, 1990-2000, post 2000.

Early Years

The equity brokerage industry in India is one of the oldest in the Asia region. India had anactive stock market for about 150 years that played a significant role in developing risk

markets as also promoting enterprise and supporting the growth of industry. The roots of a

stock market in India began in the 1860s during the American Civil War that led to a sudden

surge in the demand for cotton from India resulting in setting up of a number of joint stock

companies that issued securities to raise finance. This trend was akin to the rapid growth of

securities markets in Europe and the North America in the background of expansion of rail

road sand exploration of natural resources and land development. 10

A t that time, was a major financial centre having housed 31 banks, 20 insurance companies

and 62 joint stock companies. In the aftermath of the crash, banks, on whose building stepsshare brokers used to gather to seek stock tips and share news, disallowed them to gather

there, thus forcing them to find a place of their own, which later turned into the Dalal Street.

A group of about 300 brokers formed the stock exchange in Jul 1875, which led to the

formation of a trust in 1887 known as the NativeShare and Stock Brokers Association. A

unique feature of the stock market development in India was that that it was entirely driven

by local enterprise, unlike the banks which during the pre-independence period were owned

and run by the British. Following the establishment of the first stock exchange in Mumbai,

other stock exchanges came into being in major cities in India, namely Ahmedabad (1894),

Calcutta (1908),Madras (1937), Uttar Pradesh and Nagpur (1940) and Hyderabad (1944). Thestock markets gained from surge and boom in several industries such as jute (1870s), tea

(1880s and 1890s),coal (1904 and 1908) etc, at different points of time.

DEVELOPMENT IN BROKERAGE INDUSTRY

In actuality the brokerage industry continues to develop rapidly. Many of the traditional

restrictions against banking activities within the brokerage industry are being eliminated and

the barriers are disappearing. Due to this, some commercial banks have as subsidiaries,

brokerage houses that offer discounts and some of them have available accounts that offer allof the services that are offered by a checking account. The basic function of a brokerage firm

is to execute buy and sell orders for clients. Traditionally these firms have offered the

investigation of the quality and the possibilities of investing in a variety of investment

products. It is still accustomed for brokerage firms to offer information about possible

investments free of charge. This activity of bringing free of charge stock investment reports is

one of the main tools that are utilized by brokerage houses to compete against other firms and

to investors it continues to be an important service. Despite the previously, not all investors

consider that investment reports is an important service. Some investors prefer other types of

services since many investors dont believe that these


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In order to capture this vast diverse clientele, the brokerage industry has segmented itself.

After the restrictions in commissions were eliminated, several brokerages began to open up

their doors as discount brokerage firms. In actuality, brokerage firms may be classified into

full service brokers and discount brokers. Full service brokerage firms continue to offer

informative stock reports and a level of service much higher than other brokerage houses.Discount brokerage houses only dedicate themselves to execute orders for clients. Full

service brokers are sellers looking for purchasing and selling for clients and offering more

customer service than is available from discount brokers. It is many times possible that a

client will not even know who is taking care of the buy or sell order that they placed. These

differences in services and philosophies may lead to great differences in commission costs. It

is evident that these differences may be an important factor in the return of an investment.

This is particularly true when we see that these commissions are added to the purchase as

well as to the sale of a stock or other investments. Post major reforms initiative in early 2000s

brokerage industry in India is experiencing rapid growth and diversity. At present apart of

brokerage business industry is also offering wide range of financial services. These

developments have resulted in huge spurt in business and also growing market share of the

large sized brokerage houses has led to surge in enterprise value. In the year 2007 IPOs of

large firms (Motilal Oswal, Religare, and Edelweiss) received huge response (Indian catalog,

2001). At the same time global and private equity firms have taken stake in brokerage firms.

In India there are about 45 equity brokerage houses that are at present listed in the stock

exchanges.

Industry Insight

Majority of the broking firms entered the business post 1990. A majority of members have

memberships in more than one stock exchange and across equities, equity derivatives and

commodities futures in domestic and International stock exchange.

On theback of growing equity culture broking activity is spreading in Tier II and Tier III

cities in India.

Deepening financial system and economic growth has provided growth andexpansion opportunities to broking firms. Access to public equity markets and

growing international investors interest has enabled them to raise resources.

Although there are more than 9000 brokers registered with SEBI 80% of the turnoverin NSE and BSE is accounted by about 100 brokers

Main players in the brokerage industry are:

India Infoline

ICICI Direct

Angel Broking

Geojit

HDFC Securities


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Kotak Securities

Relaince Money

Religare

Share Khan

SBI Demat

Motilal Oswal

Anand Rati

Citi Bank Demat

Karvy securities

HSBC Invest Direct 13

RELIGARE ENTERPRISE LIMITED

Religare Enterprises Limited (REL) is a global financial services group promoted by the

RANBAXY group , with a presence across Asia, Africa, Middle East, Europe and the

Americas. In India, RELs largest market, the group offers a wide array of products and

services ranging from insurance, asset management, broking and lending solutions to

investment banking andwealth management. The group has also pioneered the concept of

investments in alternative asset classes such as arts and films .With 10,000 plus employees

across multiple geographies, REL serves over a million clients, including corporates and

institutions, high net worth families and individuals, and retail investors.

Historical Background Of The Group

The Company was originally incorporated as Vajreshwari Cosmetics Private Limited on

January30, 1984. The name of Company was subsequently changed to Religare Enterprises

Private Limited pursuant to a special resolution of the shareholders dated January 10, 2006.

The fresh certificate of incorporation consequent to the change of name was granted to the

Company on January 31, 2006, by the Registrar of Companies, Punjab, Himachal Pradesh &

Chandigarh at Jalandhar.

The status of the Company was changed to a public limited company by a special resolution

of the members dated July 14, 2006. The fresh certificate of incorporation consequent to the

change of name was granted to the Company on August 11, 2006, by the Registrar of

Companies, NCT at New Delhi.

At the time of incorporation, the main object of the Company was to purchase, sell, import,

export, manufacture, pack, replace or otherwise deal in all types of tooth paste, tooth brush,

face powder, face cream and other cosmetics. 14


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has a pan India presence, 1837* locations across 498* cities and towns. It also currently

operates from nine international locations following its acquisition ofLondons brokerage

&investment firm, Hichens, Harrison & Co. plc. (Now Religare Hichens, Harrison Plc).

Vision & Mission

Vision - To build Religare as a globally trusted brand in the financial services domain

Mission - Providing complete financial care driven by the core values of diligence and

transparency.

Brand Essence - Core brand essence is Diligence and Religare is driven by ethical and

dynamic processes for wealth creation.

Now, What Does RELIGARE Mean?

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.

Symbol: -

The Religare name is paired with the symbol of a four-leaf clover. Traditionally, it is

considered good fortune to find a four-leaf clover as there is only one four-leaf clover for

every 10,000three-leaf clovers found.

For Religare, each leaf of the clover has a special meaning. It is a symbol of Hope. Trust.

Care. Good Fortune

For the world, it is the symbol of Religare.

The first leaf of the clover represents Hope. The aspirations to succeed. The dream ofbecoming. Of new possibilities. It is the beginning of every step and the foundation

on which a person reaches for the stars.

The second leaf of the clover represents Trust. The ability to place ones own faith inanother. To have a relationship as partners in a team. To accomplish a given goalwith the balance that bring satisfaction to all not in the binding, but in the bold that is

built.

.The third leaf of the clover represents Care. The secret ingredient that is the cementin every relationship. The truth of feeling that underlines sincerity and 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.

Fourth and final leaf of the clover represents Good Fortune. Signifying that rareability to meld opportunity and planning with circumstance to generate those often

looked for remunerative moments of success


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Hope. Trust. Care. Good Fortune. All elements perfectly combine in the emblematicand rare, four-leaf clover to visually symbolize the values that bind together and form

the core of the Religare vision

Key elements & Milestones

Years events: -

1994 RSL received membership of the NSE as stock broker. 2000 RSL received membership of Future & Option Segment of the NSE. 2001 RFL received registration as Portfolio Manager for SEBI. 2004 RSL received membership of the BSE as stock broker. 2009 Religare, a diversified financial services company, and Andhra Bank, a well

known Public Sector Bank in the country, have entered into a strategic tie-up offering

Religares internet trading services platform to the Banks customers. Religare and

Swiss Re join hands to enter India health insurance space.

-Religare and Swiss Re join hands to enter India health insurance space. 17 2008 Religare

to acquire UK brokerage Hichens -Religare strengthens its Bancinvest Channel Adds Karur

Vysya Bank to its kitty. -Religare AEGON Asset Management Company Private Limited, a

joint venture between Religare and AEGON, has received the final regulatory approval from

the Securities and Exchange Board of India (SEBI) to launch mutual fund business in the

country. -Religare Enterprises gets SEBI nod for LOTUS acquisition. 2007 RSL received

membership of derivative segment of the BSE as trading-cum- clearing member.


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Organisational Structure: -


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Central Leadership

Mr. Sunil Godhwani (Chairman and Managing Director), Religare Enterprises Limited

Mr. Sunil Godhwani, Chairman and Managing Director, Religare Enterprises Limited, is the

driving force behind the company. A man with a vision to create a global business ofexcellence, he is the inspiration to all as he spearheads the companys management and

global operations; strategizing and directing it through its next phase of growth. Sunil has a

diverse and wide-ranging experience of over two decades in managing large scale businesses,

he also serves as Director on the Boards of Religare Technova Limited, Super Religare

Laboratories Limited, Religare Macquarie Wealth Management Limited, AEGON Religare

Life Insurance Company Limited, Religare Voyages Limited, Parkway Holdings, Fortis

Healthcare Limited and other subsidiaries/ Group companies of Religare.

Born in New Delhi, Sunil completed his schooling from prestigious St. Columbas School

post which he went abroad for studying. He holds a B. Sc. Degree in Chemical Engineeringand a M.Sc. in Industrial EngineeringProjectsformba.blogspot.com & Finance from

Polytechnic Institute of New York. Mr. Shachindra Nath Group CEO, Religare Enterprises

Limited 19He loves Chinese food and is an avid sports enthusiast with interest in Cricket,

Table Tennis and Golf.

Board of Directors: -

Ms. Sunita Naidoo

Independent Director

Mr. J. W. Balani Independent Director

Mr. Padam Bahl Independent Director

Ms. Kathryn Matthews Independent Director

Mr. Deepak Ramchand Sabnani Independent Director

Mr. Harpal Singh Non Executive Director

Mr. Anil Saxena Group CFO

Mr Shachindra Nath Group CEO

Mr. Sunil Godhwani Chairman and Managing Director

Mr. Anil Saxena Group CFO, Religare Enterprises Limited

Religare Global Presences

Singapore

Qatar

Dubai


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United Kingdom

Addresses

S.No Location Type Address

1. Registered Office D3, P3B, District Centre,

Saket New Delhi , Delhi -

India PinCode :110017

Phone :011-39125000,,, Fax

:011-39126505

2. Corporate Office A3,4,5, GYS Global, Sec 125

Noida , Uttar Pradesh - India

PinCode :201301 Phone

:0120-3391000

Religare Securities Limited

(RSL), a 100% subsidiary of Religare Enterprises Limited is a leading equity and securities

firm in India. The company currently handles sizeable volume straded on NSE and in the

realm of online trading and investments; it currently holds a reasonable share of the market.The major activities and offerings of the company today are Equity Broking, Depository

Participant Services and Research Services. To broaden the gamut of services offered to its

investors, the company offers an online investment portal armed with a host of revolutionary

features.

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.

Religare has been constantly innovating in terms of product and services and to offer suchincisive services to specific user segments it has also started the NRI, FII, HNI and Corporate

Servicing groups. These groups take all the portfolio investment decisions depending upon a

clients risk / return parameter.

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

.Religare Securities Limited, a Ranbaxy Promoter Group Company, was founded by late

Dr.Parvinder Singh (CMD Ranbaxy Laboratories Limited), with the vision of providing

integrated financial care driven by the relationship of trust & confidence.


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To realize its vision the Religare group provides various financial services which include

broking (stocks & commodities), depository participant services, portfolio management

services, advisory on mutual fund investments and many more. Working on the philosophy of

being Financial Care Partner, Religare unlike other traditional broking firms not only

executes the trades for the clients but also provides them critical and timely investmentadvice.

The growing list of financial institutions with which Religare is empanelled as an approved

broker is a reflection of the high levels of service standard maintained by the company.

Religare is a truly professional financial service provider managed by a team of highly skilled

professionals who have proven track record in their respective domains. Religare has the

wide stretch through its Regional, Zonal and Branch Offices spread across the length &

breadth of the country.

Now a days Religare is driven by ethical and dynamic process for wealth creation. Based on

this, the company started its Endeavour in the financial market.

Religare Enterprises Limited (A Ranbaxy Promoter Group Company) through Religare

Securities Limited, Religare Finvest Limited, Religare Commodities Limited and Religare

Insurance Advisory Services Limited provides integrated financial solutions to its corporate,

retail and wealth engagement clients. Today, we provide various financial services which

include Investment Banking, Corporate Finance, Portfolio Management Services, Equity &

Commodity Broking, Insurance and Mutual Funds. Plus, theres a lot more to come your

way.

Religare is proud of being a truly professional financial service provider managed by a highly

skilled team, who have proven track record in their respective domains. Religare operations

are managed by more than 1500 highly skilled professionals who subscribe to Religare

philosophy and are spread across its country wide branches.

Today, Religare have a growing network of 150 branches and more than 300 business

partners spread across 180 cities in India and a fully operational international office at

London. However ,our target is to have 350 branches and 1000 business partners in 300 cities

of India and more than 7 International offices by the end of 2006.

Unlike a traditional broking firm, Religare group works on the philosophy of partnering forwealth creation. We not only execute trades for our clients but also provide them critical and

timely investment advice. The growing list of financial institutions with which Religare is

empanelled as an approved broker is a reflection of the high level service standard maintained

by the company

.Religare TodayAn ISO 9001:2000 Company 25Member of National Stock Exchange

(NSE) since November 1994, first deposit based member


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PartB

Research Project

INTRODUCTION TO PROJECT


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CUSTOMER RELATIONSHIP MANAGEMENT

Customer Relationship Management (CRM) is a well-known business concept. Managers

today are working hard to build and maintain a relationship with the customer - given theimportance of customer lifetime value. While the concepts of CRM and Customer Lifetime

value are well established and understood by managers, managing customer relationships has

become a challenge for many managers. Several firms have implemented dedicated software

tools (Seibel, salesforce.com etc.) for customer relationship management, and even more

number of companies is planning to do the same. Few firms have even created offices of

customer relationship management: Client partners, Account managers, Program Managers

etc. In spite of all these efforts, managers are finding it hard to manage customer

relationships. The challenge of managing customer relationships led to a new concept called

Levels of Customer Relationships developed by INSEAD, France. The central theme of this

concept is:

Customer relationship is an evolutionary process that can be identified as 6 distinct stages.

Customers have different needs and expectations during different stages of this relationship

Customer relationship is a dynamic process and can move from one stage to another based

on customers aspirations and customers buying experience.

Why do customers have a relationship with the vendor?

Every salesman knows that customer often wishes to have a relationship with the vendor.Many firms therefore want to make use of this relationship and have instituted customer

loyalty programs - aimed at rewarding loyal customers. For example, Airlines have free miles

program, credit card firms have points program, Grocery stores have a special discount for

loyalty cardholders etc.

Looking from the customers perspective, customer expresses a need for a relationship with

the vendor for a few basic reasons: satisfy their needs, convenience, reliability, and lower

cost of transaction. Customers need products or services and will obtain them, but they are

willing to enter into a relationship with the seller to make the process of buying easier and a

more pleasant experience.

One has to note that the intensity or depth of the relationship, which the customer expresses

to have with the vendor, depends in the intensity of his/her needs. If a product/service is vital

to the customer e.g. financial product, then customer is willing to have a deeper relationship

in order to have their needs satisfied as precisely as possible. On the other hand if the

customer wants a routine service or generic product e.g. customer needs tips from his broker

while trading in the stock market, then the relationship is superficial - characterized by buyers

convenience. To understand this considers the following examples:

1. Customer, who is a telecom service provider, wants to implement ERP software. Since thesoftware has to be customized for the Telco, the customer is willing to establish a deep


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relationship with the vendor by having a development & maintenance contract with the

vendor.

2. Customer, who wants a copy of MS Project installed in a computer. Since this is a simplepurchase, the customer wants to buy it from a nearby store and install it himself. Thus there is

no real relationship between the customer and the vendor. Both examples point to the fact

that the level of relationship a vendor enjoys with the customer is directly dependent on the

criticality or importance ofcustomers needs. In short, customers enter into a relationship

with the vendor in order to serve their own needs.

Strengthening Customer Relationships

We now understand that the depth of the relationship between vendor and customer is

directly dependent on the intensity of the customers needs. Also note that the customer

defines the depthof relationship. This creates a challenge for a salesman or a marketer at the

vendor firm. For avendor to increase sales, the vendor firm must improve the relationshipwith the buyer. And toimprove the relationship, vendor must know the current level/stage of

relationship he has with the customer. So the first step in managing customer relationship is

to know and understand thelevels of customer relationships. 2

Levels of Customer RelationshipsAs mentioned earlier, relationship between buyer and

seller can be identified in 6 distinct levels

Level-1 being the lowest level of relationship and level-6 being the deepest level of

relationshipLevel-1: Utility Need

Level-2: Convenience Need

Level-3: Comfort Need

Level-4: Personal Recognition Need

Level-5: Self-expression Need

Level-6: CO-Creation Need

From a marketing perspective, the customer lifetime value is lowest at level-1 and is highest

atlevel-6. This is also reflected in the revenue or sales from a customer. Customer, withwhom a company enjoys the highest level of relationship, will also be the most profitable

customer.

It is therefore in the vendors best interest to have very deep relationship with the customer.


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Level-1: Utility Need

This is the most basic interaction between customer and vendor. Here the customer desires to

buy a particular product/service. Customer interacts with the seller with the sole aim of

acquiring the product/service. The relationship between the firm and the customer is

characterized by efficiency in transactions, straightforward, no-frills selling. To increase

sales, vendor must work on availability of the product/service. Customer will buy only if a

product/service appeals to the rational side of the customer i.e. Price and convenience.

Customer does not bond with the vendor, as the relationship is a purely utilitarian one -

exchange of goods/service for money.

The vendor should respond to the customer (in this level of relationship) by providing the

required goods/service, and refrain from interacting at a deeper level i.e., by not offering

added products/service - other than those requested by the customer. If the vendor insists or

attempts to force a relationship to a higher level, the customer may "pull-out" thus risking

future sales.

To understand this, consider this example: If someone purchased a laptop from DELL

Computers. He placed an order online - for a particular configuration. His expectation from

the vendor is that Dell will deliver the computer on stated delivery date; he is buying from

Dell to meet up to the price that is attractive for him. If the salesman at Dell attempts to push

additional hardware or software - which is not what he wanted, he might get annoyed and

cancel the order.

Vendors must first identify the level of relationship the customer has with them, and then

craft a strategy to deepen it. In this case, a vendor can deepen the relationship by increasing

the number of interactions. This can be done by: Offering a wide range of products/service,

having 24/7 sales operations - i.e., Internet or all 24-hour shops.

For example, Dell can increase the number of customer interactions by offering a full range

of computer accessories: Printers, Scanners, cartridges, office software, Computer games etc.

Dell can increase the number of customer interactions by offering value added services such

as on-site maintenance, free software updates etc .Augmenting the basic service/goods with a

value addition can deepen utilitarian relationships :Cross selling or value addition

Level-2: Convenience Need

Once the customer has easy access to service/goods that they need, customers look for ease of

purchase process that denotes a second level of relationship. The vendor should respond b by

providing services that simplify the buying process i.e., identify and eliminate those

procedures that are a hindrance to obtaining a product/service. For example, having a shorter

checkout lines in a store, having the products courier & providing the tracking number to the

customer, having a service personal ready to attend the customer when the customer enters

the bank/hotel/office etc.

To improve the buying process, the vendor must understand thoroughly the entire customerpurchase experience and then eliminate the nagging problems in the purchase process.


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Service companies often resort to mystery shoppers - who act as customers and buy the

product/service to measure & improve the buying experience. Often times, managers listen to

feedback from front-line employees for suggestions to improve the customers buying

experience.

For example, Dell provides the exact shipment details of the computer and is delivered on the

specified time. In addition, Dell has a complete e-Commerce website which enables a secure

and easy payment method. Airlines provide comfortable lounges at the airport - while

customers wait for their flight. Airlines also provide e-ticketing, curb side luggage check in,

on-line flight details etc., to make customers feel comfortable during the purchase process.

Often times, there are several instances of customers abandoning their purchase process in the

midway. This is the sure sign of an inefficient and inconvenient buying process.

Relationships at this level can in strengthened by widening the service interactions with

customers. By this I mean, look at the ways the customer buys your

Product/service and then provide additional services to make it simpler and easier for the

customer. Customer Activity Mapping (CAM) & Customer Decision Mapping (CDM) are the

tools that can be used to analyze the decision-making, buying, using, and consumption

experience. And in each stage, the objective of the vendor is to identify situations that pose

obstacles to the buying process. Making the buying process as pleasurable as possible, a

vendor can strengthen relationship with the customer in this level and also take the

relationship to the next level.

Level-3: Comfort Need

Comfort Need Once the customer has a convenient buying process, then they wish to have a

"pleasant shopping experience" i.e., the customer seeks a buying interaction where he feels

comfortable. This implies that the vendor should foster a buying environment in which

customer feels comfortable and is characterized by an agreeable and relaxing purchase

ambiance.

For example, many multi-million dollar business deals are done at resorts - away from the

clutter of the office environment. BASF, a fortune-100 chemical company often conducts the

contract negotiations on a luxury yacht. This provides the right ambiance and mood to put the

customer at ease and feel comfortable during the buying process.

Irony of this "comfort need" is that customers often overlook the comfort factor - and often

customer notices the absence of the comfort.

A discomfort during the buying experience is easily noticed and registered, while customer

forgets comforts. CRM efforts in this level must be focused on making the customer feel

comfortable; create a feel-at-ease feeling. The marketer should strive to provide customers

comfort, fun, surprise, and other means of generating a positive feeling. Note that this is

distinctly different than relationship building at level-2, where the focus was to remove any

factor, which caused inconvenience to the customer.


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Relationship is built on a feeling of ease and providing more of the same - greater comfort,

fun and pleasant interaction environment can strengthen comfort. This involves training the

front-end employees to provide a Comfortable experience to the customer and being sensitive

and responsive to the customers level of interaction the marketing efforts must be directed at

improving/building the memory of pleasant experiences of the customer.

Level-4: Personal Recognition Need

Often times, regular/loyal customers expect the vendor to interact in a way that his/her

personal choices are recognized. This implies that the customer is seeking a level of

relationship where they expect the vendor to recognize their needs - without them asking for

it. At this level, the loyalty of customer has been well established; customer enjoys the

convenience and a feeling of comfort. Here, in this level of relationship, the customer needs

are "personal". In earlier levels, the needs were mostly contextual, i.e., based on the context

of buying experience.

CRM efforts at this level are to personalize the service/product offerings. For example,

financial institutions treat their high value customers with personalized check books,

providing a personal financial advisor, etc. In business-to-business environment, this is

characterized by having a dedicated relationship manager who interacts with the client, who

knows the clients exact need sand has the authority to deliver the customers needs. The

"relationship manager" or "client partner" can also make suggestions; provide consultingadvice to the customer - Along with dinners/lunches, tickets to popular events etc.

Advent of Internet has created opportunities for vendors to provide customized web

interfaces to each of their clients. Amazon.com ebay.com etc Provide customers with

customizable web interfaces

To bring a customer to this deep level of relationship, the level-3 relationship of making the

customer feel comfortable must always be accomplished. Only when the customer is

comfortable, vendor can discover (discreetly) the personal needs of the customer - and then

move the relationship to the next higher level. Relationship at Level-4 is analogous to that of

a romantic partner - but not a spouse or fianc. The relationship at this level is more personal

but without invading the privacy of the customer. The timing therefore needs to be right -

so that any potential tensions or conflicts are avoided or reduced to minimum. The company

must know the customer details, possible tastes and preferences sufficiently well to

Build the relationship. Interactions must be respectful, as exchange of personal information

may be perceived as invasive.

The irony of the CRM systems at this level is that customer feels that the CRM systems

compromise customers privacy - and for that reason most customers are reluctant to share

personal information with the vendor, which in turn cause most CRM implementations fail. A


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salesman or marketer or account manager must therefore take extra precaution not to reveal

any personal information of the customer to the CRM database system. This personal

information must be carried in the mind of the vendor salesmen. Customers need for personal

recognition may be met by very simple acts by the salesman, such as rewards for customer

loyalty (given to the customer - i.e., buying agent or the key decision maker); tailor madeproducts, and words of appreciation.

Level-5: Self-_Expression Need

Once the customer feels that the vendor recognizes him/her as person and can associate

personally with the vendor, the customer is ready for the next level of relationship - that is of

Self-_ expression. Customers who are in this level of relationship expect the vendor to focus

on customizing and personalizing the product/service offerings. The customer expects the

vendor to have a clear understanding of their needs and the vendor should be able to meet

them. The relationship is characterized by mutual trust, confidence & respect.

For example, Dell Computers being a customer of Intel expects Intel to know its needs for

latest and most powerful microprocessors for the Christmas season.

The Customer then expects Intel (vendor) to announce and supply the latest processors in

time so that Dell can ship the computers to its customers in time for Christmas.

In a consumer world, a common example will be that of a (famous) client and his/her fashion

designer. The client expects the fashion designer to know his/her tastes and provide clothes

accordingly.

It must be noted that in a B2B world, customers are more rational. Their business needs

drives the relationship and is partly independent of personal factors. As a result, vendor can

build this relationship by learning the customer needs. Based on these learning/insights,

vendor should be able to offer highly customized and personalized offerings.

Customer relationships in levels 1-4 are defined by customers experience and are therefore

heavily dependent to the external environment (i.e., external to the customer). At levels 5 and

above the relationship depends on internal and external factors including rational and

emotional considerations.

The key for success in building relationship at this level is to understand the customersimplicit needs - i.e., those needs that are not expressed verbally. Vendor can strengthen the

relationship by understanding the customers implicit needs and focusing on different ways to

customize and personalize the offerings. In a B2B setting, this involves understanding the

customers business operations, business models and then providing customized solutions:

Like releasing products in time for Christmas or having goods packed in a truck in a manner

it is efficient for customer etc.

Level-6: Co-Creation Need

This denotes the highest level of customer relationship. At this level, customer is verycomfortable dealing with the vendor; the relationship is characterized by a sense of


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collaboration. The customer feels a need for a unique product/service and is willing towork

with the vendor to develop the product/service. Often the customer to the surprise of the

vendor initiates the idea of co-creation.

Co-creation relationships are personal and rational. At this level of relationship, the customer

loyalty & trust is very high. Customers are willing to invest for joint development of

products/service. Customer feel closely bonded to the vendor - to the point that the customer

seeks a joint destiny with the vendor. I.e., some aspects of customers interests merge with

that of the vendors interests.

Co-Creation denotes the highest level of customer relationships. Broadening interactions,

which involve co-creation of products/services, can strengthen this relationship.

Relationship Marketing

Relationship Marketing has an aim of building mutually satisfying long term relationship

with its clients in order to earn and retain their business. Marketer accomplishes this by

promising and delivering high quality product and services at fair price to the other parties

over time. Relationship marketing build long& strong economical, technical and social ties

among the parties. The ultimate outcome of relationship marketing is the building of unique

company assets called the marketing network.

A Marketing network consists of the company and its supporting stakeholders (Clients,

Employees, ad agencies and others) with whom it has built mutually profitable business

relationship. The operating principal is to build an effective network of relationship with key

stakeholders.

Marketing Channel: To reach target market, marketer uses three kinds of marketing

Channel.

1. Communication Channel:

It delivers & receives messages from target buyers and includes newspaper, television,

telephone etc.

2. Distribution Channel: To display sell or deliver the physical product or service(s) to the

buyer or user. This includes distributors and agents.

3. Service Channel: To carry out transaction with potential buyers. Marketer clearly faces a

design problem in choosing the best mix of communication, distribution and service channel

for their offerings

Supply Chain: The marketing channel connect the marketer to the target buyers, the supply

chain describe a longer channel stretching. The supply chain represents a value delivery

system. Each company captures only a certain percentage of total value generated by the

supply chain. When a company acquires competitor or moves upstream of downstream, its

aim is to capture a high percentage of supply chain value.


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Competitor: It includes all the actual and potential rival offering and substitutes that a buyer

might consider. We can broaden the picture further by distinguishing four levels of

competition based on the degree of product sustainability:

1. Brand Competition: A company sees its competition as other companies offering similar

products and service to the same customer at similar price.

2. Industry Competition: A company sees its competition as all company making the same

products or class of products

3. From Competition: A company sees its competitors as all companies manufacturing

products that supply the same service.

4. Generic Competition: A company sees its competitors as all companies that compete for

the same consumer.

Marketing Environment:

Competitor represents only one force in the environment in which the marketer operates. The

marketing environment consists of the task environment and the broad environment.

1. Task environment: It includes immediate actors involved in producing, distribution and

promoting the offering. The main actors are the company, suppliers, distributing, dealers and

the target customer.

2. Broad environment: It consists of demographic environment, economical environment,

natural environment, technological environment, political environment, and socio- cultural

environment. These environments contain forces that can have a major impact in task

environment.

Principles of Relationship Marketing:

The principal of personal selling and negotiation thus described are transaction oriented

because their purpose is to close a specific sale, but in many cases the company is not seeking

an immediate sale, but rather to build a long term suppliers- customer relationship. The

company wants to demonstrate that it has the capabilities to serve the client needs in a

superior way. Todays customers are large and often global. They prefer suppliers who can

sell and deliver a coordinated set of product and services to many locations.

When a relationship management program is promptly implemented, the organization began

to focus as much on managing its customer as on managing its products. At the same time

companies should realize that while there is a strong and warranted move toward relationship

marketing, it is not effective in all situations. Ultimately companies must judge which

segment and which specific customers will respond profitably to relationship management.


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NEED OF STUDY

Today, for any organization or firm to survive in this competitive world depends on its ability

to be dynamic and be different from the competition to be unique in the industry. Customer

Satisfaction helps every organization to keep the existing customer and to build new

customer .The purpose of this study is to study whether Customer relationship management

policies followed by Religare cater to the needs of the clients or not. Whether the clients are

happy with the services provided by Religare.

REVIEW OF LITERATURE

Bergenfield [2010] Businesses are in a constant race to increase profits, keep current

customers and gain or poach new ones, competing for customers on a globalised market like

never before.

One of the many sets of tools aimed at aiding the interaction between supplier and customeris customer relationship management (CRM).

Morgan and Hunt (1994) defined Relationship marketing as the marketing activities

directed toward establishing, developing, and maintaining successful relational exchanges.

The separation of the producers from the users was a natural outcome of the industrial era.

On the one hand, mass production enforced producers to sell their product & services through

middlemen, and on the other, industrial organizations, due to specialization of corporate

functions, created specialist purchasing departments and buyer professionals, thus separating

the users from the producers.

Wilson (1995) summarized different relationship variables that affects the relationship of

firm with different stakeholders, those variables are Commitment, Trust, Cooperation, Mutual

Goals, Interdependence and Power, Performance Satisfaction, Structural Bonds, Comparison

Level of Alternatives, Adaptation, Non-retrievable Investments, Shared Technology, and

Social Bonds.

Gronroos(1990) states Marketing is to establish, maintain, and enhance relationships with

customers and other partners, at a profit, so that the objectives of the parties involved are met.

This is achieved by a mutual exchange and fulfilment of promises

Gefen (2002) in his article reviewed that comparison of CRM to ERP systems and arguingthat customer relationship activities are not as standardized as other business activities, such

as accounting or procurement. Hence CRM implementation calls for much more complex and

flexible approach

Kotler and Armstrong(2004) define CRM as the overall process of building and

maintaining profitable customer relationships by delivering superior customer value and

satisfaction. CRM is a managerial term which focuses on efforts to attracting, maintaining,

and enhancing customer relationships.


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Dick Lee(2000), CRM is perceived as chain reaction which is source by new strategic

proposal of communication with customer when high level of information technologies

development and stable customers need to get enhanced quality of service are achieved.

Oligvy and One (2001) purposed the model which states that CRM is to analysis, evaluation

ofa current situation preparation of a project, technologies, employees and an enterprise,

processes, management of customers, effectiveness measurement, and experience of

customers.

Chaudhuri and Shainesh (2001)-A CRM programmer requires a clear understanding and

commitment to the companys customers, vigilant adherence to detailed goals, commitment

from both executives and line workers, and a constant awareness of the customers view point.

Customer relationship management is about more than simply managing customers and

monitoring their behaviour or attitude.

In a study assessing the impact of relational information and processes, Jayachandran,Sharma, Kaufman, and Raman (2005) found that firms that have higher CRM performance

also had the ability to capture, access and use customer information. Another study of on-line

retailers with a brick and mortar presence, Srinivasan and Moorman (2005), linked the impact

of firm strategic commitment to the performance of CRM system investments. More

specifically, they conclude that firm commitments to either an on-line or bricks and mortar

presence affect the performanceof the CRM initiative, emphasizing the importance of context

when evaluating the impact of CRM on firm performance.

Winer (2001) provides a framework for one to begin conceptualizing a CRM program. This

framework although useful, is quite general and is only a starting point in the quest to identify

relevant activities/behaviours /outcomes for a CRM program. Taking Winers framework into

consideration, coupled with a review of the literature, six areas are identified which comprise

a CRM program.

These areas are:

1) Objectives of the CRM program;

2) Types of customer data collected/available;

3) Uses of customer data for managerial decision-making;

4) The firms approach to market;

5) Tactics used to develop and maintain relationships with customers; and 6)the information

technology infrastructure currently in use.

Galbeth (1999) maintained the importance of providing effective leadership. CRM normally

involves business process change and the introduction of new information technology,

consequently effective leadership is important Because leaders monitor the external

environment of an organization they are often the best people to set the vision or strategic

direction for CRM projects. In addition, leaders have the power to influence personnel to buy


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in (Bull, 2003). CRM Com environments are complex and require organizational change and

a new way of thinking about customers and business in general.

Stadler (2001) said that it is important to look at the current status of the company. In this

stage assessments have to be made and sometimes external assessors may be hired. A

readiness assessment establishes how ready the organization is for a CRM project and a

maturity assessment is necessary to show how mature the organizations current practice is

.These assessments help to identify where the organization is in terms of customer-centricity

and creates a snap shot of the organization that helps as a starting point for the CRM project.

Sharp (1997) concluded it is important Knowing the customer. Customer knowledge is an

important asset for all businesses. The first step towards a CRM project is to know who the

customers are, what they need, how they want the product, how they want the service, what

their expectations are, how they want to be dealt with and which channels of communication

they prefer

.Karl(2000) maintained different organizations use different customer knowledge strategies

to best match culture, priorities, and capabilities. They try to reap the best business value

from their existing knowledge-based assets or try to create new knowledge-related assets

where they are required .With the customer in mind and the customer providing the central

emphasis of an organization, managers can start to evolve all the processes needed around the

customer

Dobbins and Pettman (1997) state CRM as one of the nine basic skills for business success:

Remember that we are all in business to provide benefits for customers - at a profit. We are

not in business to make products and provide services. The world is full of products andservices in which customers see no benefit and for which they are neither willing nor able to

pay. Benefits customers seek include an increase in self esteem, new knowledge,

companionship, additional, wealth, success, power, influence, self-expression, better health,

better relationships, social status, popularity, self-actualization, recognition, admiration,

prestige, security, safety, self-preservation, a decent meal, a good laugh and excitement.

Remember that customers are lazy, ignorant, selfish, greedy, impatient, disloyal, ruthless and

vain. Use your creativity to generate benefits which are consistent with customer

characteristics.

Imaduer Rahman (2007) concluded many organizations or companies we have today inthese CRM plays an important role either in software solution companies or any organization.

It is like back bone to that particular organization previously customer relationship was

limited to person to person marketing but in this knowledge era market is not limited to

certain place it is widely spread like globalization so it is introduced as online marketing.

McKenna(2008) offered a more strategic view by putting the customer first and shifting the

role of marketing from manipulating the customer (telling & selling) to genuine customer

involvement (communicating & sharing the knowledge).

Berry(1999) , in a broader term stressed that attracting new customers should be viewed onlyas intermediate step in the marketing process. Developing closer relationships with this


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customer sand turning them into loyal is an equally important aspect of marketing. Thus, he

defined relationship marketing as attracting, maintaining, and, enhancing customer

relationships.

Steve Jobs, chairman and co-founder of Apple Inc. once said A lot of companies have

chosen to downsize, and may be that was the right thing for them. We chose a different path.

Our belief was that if we kept putting great products in front of customers, they would

continue to open theirwallets. In fact, customers hold the pillar of a business and regard as

the most valuable resource in the market. In todays highly competitive business world, the

biggest challenge faced by the management is to create and maintain relationships with

customers. It is a customer-centric business environment and lack of right attitude showed by

management may adversely affect the business. To maintain healthy relationships with

customers in order to maximize profit, the management has decided to adopt Customer

Relationship Management, a business strategy to create a beneficial environment among

customers..


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TITLE

CUSTOMER RELATIONSHIP MANAGEMENT WITHSPECIAL REFERENCE TO EQUITIES


34/55

STATEMENT OF OBJECTIVES

1. To study the Customer Relationship Management practices that is implemented at

customer level

2. To study the effect of Customer Relationship Management Practices while making

purchase and repurchase decision

3. To know the satisfaction level of Religare Equity clients in NCR region.


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RESEARCH METHODOLOGY

The research methodology is the specification of method of acquiring the information needed

to structure or solve the problem. It is not considered to be the decision of facts but also

building up the data knowledge and to discover the new fact involved through the process inthe dynamic change in the society.

Scope of the project

This research was conducted in NCR Region on those respondents who have been investing

inequities through Religare Securities.

Type of Research

The present study, being conducted, followed a Descriptive Design. It produces a picture of

phenomenon in which decision maker is entrusted. Design of descriptive studies includes the

nature and source of the data, the nature of expected results and the analytical methods.

Descriptive research describes about the population or phenomenon being studied.

Descriptive research is pre-planned and structured.

Method of Data collection

Primary Data The method followed in obtaining the primary data was through the

structured questionnaire.

Secondary Data: It refers to the information or facts already collected. The data was taken

from internet and journals.

Sample Design

Universe -All the investors who invest in equities through Religare Securities.

Population - the investors who invest in equities through Religare Securities in NCR

Regenion.


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Limitation

Study The study based on survey through pre-designed questionnaires suffers fromthe basic limitations of the possibility of difference between what is recorded andwhat is the truth, no matter how carefully the questionnaire has been designed and

field investigation has been conducted.

Close responses. As the project is also based on secondary data, possibility of unauthorized

information cannot be avoided.

Study is done only for NCR investors. The investors may be biased. Time has played a biggest constraint that the research could not be carried out

comprehensively as the duration of the study was only 6 weeks

The sample size was limited.All the investors who invest in equities through Religare Securities in NCR Region.

Sampling Unit Every single respondent who has filled the questionnaire. Sample size

Sampling size refers to total number of respondents targeted for collecting the data for the

research. The sample size for survey conducted is 50 respondents. Sampling technique The

selection of respondents was done on the basis of Convenience Sampling technique.


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DATA ANALYSIS & INTERPRETATION

Table 4.1 Profession In which respondent is engaged

S.No Profession Respondents Percentage

1 Business 10 20

2 Services 20 40

3 Entrepreneur 5 10

4 Others 15 30

5 Total 50

Analysis: From the 50 respondents approached, 20 belonged to services profession who

invested in share market through Religare securities. People who were in other professions

were second contributing 30%. 10 respondents belonged to business class and 5 were

entrepreneurs.

Interpretation: From the analysis done above it can easily be interpreted that more people

from services sector invested in share market. Reason being that they think it is goodinvestment as it can bring profits and add to their income. 48

20

40

10

30

0

5

10

15

20

25

30

35

40

45

Percentage

Percentage


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Table 4.2 Time period of investing

s.no Time(years) Respondents Percentage

1


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Table 4.3 Reasons For Investing

s.no Reasons Respondents Percentage

1 Reputation of

company

10 20

2 Consumer friendly 17 34

3 Advertisements 7 14

4 Good Services 12 24

5 Any other 4 8

Analysis: From the data it is found that as many as 17 people have been Religare clients due

to good consumer policies offered by them. As many as 12 respondents think that their

services are the reason why they are sticking with the firm. 10 are investing through Religare

due to its Reputation in the market and 7 due to advertisements. 4 respondents cited other

reasons.

Interpretation: It is clearly understood from the data that most of respondents are Religare

clients due to the Consumer Friendly policies it offers like Negotiable Brokerage, providing

updated information, Accurate solutions to their problemsetc

20

3414

24

8

percentage

reputation of company

consumer friendlyadvertisement

good services

any other


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Table 4.4 Awareness of Customer relationship marketing policies

S.No Options Respondents Percentage

1 yes 35 70

2 No 15 30

Analysis : From the pie chart depicted above it is clearly understood that out of 50

respondents35 are aware of the Customer relationship marketing Practices followed by

Religare and rest 15are not aware

Interpretation: This is pretty much straight forward question as majority of respondents are

aware of the CRM practices followed. The reason may be that they are aware of the term

themselves then the rest. 53

70

30

percentage

yes

no


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Table 4.5 Customer Relationship marketing Policies

S.NO. Practices Respondents Percentage

1 Optimum solutions 10 20

2 Updated Information 20 40

3 Long term

concessions

1 2

4 Door Step services 3 6

5 Regular in touch 11 22

6 Any other 5 10

Total 50

Analysis: By studying the chart above we can conclude that out of 50 respondents 15 thought

the Customer Relationship Marketing Practice followed by the company is providing updated

information of the new launched policies. Next in line are 7 respondents according to whom

providing optimum solutions to the problems is the major CRM practice. 8 respondents think

that being regular in touch with their RMs is the practice followed while remaining were

divided among door step services, any other and long term concessions in the ratio of

Interpretation: Most of the respondents responded that getting updated information is the

best CRM policy adopted by the company. Policy here is a broader term which includesgiving them details about share market, new policies, new SEBI rules of market.

20

40

2

6

22

10

percentage

optimum solution

untaped information

long term concession

door drop services

regular in touch

any other


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Table 4.6 Choose any 3 Customer relationship Practices

S.No Practices Respondents Percentage

1 Optimum solutions 26 13

2 Updated Information 32 17

3 Long term

concessions

2 1

4 Door Step services 10 5

5 Regular in touch 24 12

6 Any other 2 2

7 Total 50 50

Analysis: This question is for all the respondents that what according to them is a important

policy a company should follow. Here 17 respondent think that giving up to date information

is the key while 13 says providing optimum solutions is important. Keeping in touch with

your RM manager after buying/investing is important for 12 respondents.5 people opted fordoor step services and 2 gave other reasons while 1 was for long term concessions.

Interpretation: Most of the people also think updated information is an important practice

because as they have invested their money is stocks they need to be provided with latest

information.

26

34

2

10

244

percentage

optimum solution

untaped information

long term concession

door drop services

regular in touch

any other


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Table 4.7 Reason for Religare to follow these practices

S.No. Practices Respondents Percentage

1 Building Brand

image

10 20

2 Competitors 3 6

3 Retention of

customers

25 50

4 Increase in sales and

profits

4 8

5 Word of mouth 6 12

6 Any other 2 4

Total 50

Analysis: This bar chart gives us an idea about why Religare should follow above mentioned

practices. 25 of the respondents were in favour of retention of customers. Second were those

10 respondents according to whom building brand image should be the reason. 6 thought that

by following above practices Religare can gain from word of mouth. Rest of the respondents

gave reasons like increase in sales and profits, competitors and others in ratio of 4:3:2.

Interpretation: More people stated that retention of customers should be the main reason for

accompany because in such competitive world if a customer is not satisfied from a particular

firm he can easily move onto other company. So it become necessary for a company to

provide good services ,

20

6

50

8

12 4

percentage

bulidind brand image

competitors

retension of customers

increase in sale & profit

word of mouth

any other


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Staff Efficiency

Analysis: The chart above gives us indication about the satisfaction level of respondents for

staff efficiency. Out of these 22 are happy with the efficiency of the staff. Rest of respondents

vary from 15 to 2.

Interpretation: The reason which can be given is that these respondents may have better

relations with their dealers and updates are provided to them instantly. 16 14 12 Respondents

10 8Table 6 (b) Satisfaction Level for Redressing of complaints 4.8 4 2 0 60 Excellent Verygood, Average Poor Satisfaction Level

Satisfaction Level

7

23

15

5

3

0

5

10

15

20

25

excellent very good good average poor

respondents

respondents

0

2

4

6

8

10

12

14

7

14

10

14

5

respondents

respondents


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Analysis: The above bar chart shows the number of respondents corresponding to redressing

of complaints. Here striking feature is that both the very good and average experiences match

eachother.ie 14 each.

Interpretation: This is a tricky one as this satisfaction level varies considerably. Some

complaints have been addressed quickly and some not. It also depends on the nature of

complaints. 18 16 14 12 Respondents 10Table 8 (c) Satisfaction Level for Timely Responses

4.8 6 4 2 0 61 Excellent Very good ,Good Average Poor Satisfaction Level


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Table 4.9 Influences of CRM practices in further investing

S.No. options Respondents Percentage

1 Yes 30 60

2 No 20 40Total 50

Analysis : This pie chart shows the number of respondents who think whether these

Customer relationship policies are influential in further investing or not. After conducting the

survey 30were in favour and 20 were not.

Interpretation: Most people responded in favour because according to them if policies and

services are good then they will be satisfied with the company and invest further. Table 4.10

Recommend to others

60

40

percentage

yes

no


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Total 4.10 Recommend to others

S.No. options Respondents Percentage

1 Yes 31 62

2 No 19 38Total 50

Analysis: The above pie chart gives us information about number of people who will

recommend Religare securities to others (Friends, relatives etc).31 responded that they would

suggest Religare Securities and 19 responded that they will not recommend.

Interpretation: The people who will recommend are those who are satisfied with Religare

services or in recent time have earned profits.

62

38

percentage

yes

no


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Table 4.11 Experience in Stock market

S.No. Experiences Respondents Percentage

1 Excellent 7 14

2 Very Good 10 20

3 Good 10 20

4 Average 18 36

5 Poor 5 10

Analysis: The above graph gives us information about experience of respondents is stock

market. The experience of 18 respondents was average while 10 respondents each were in

very good and good category. The experience of 7 respondents was excellent and of 5 was

poor.

Interpretation: The best explanation for this is the share market is very volatile, you are not

guaranteed profits every time you invest. Thats the reason why only 7 respondents have

excellent results and some among them are long term investors. Mostly experiences has been

average as some people have made profits and losses on the same day also (intra day trading).

20

2036

10

percentage

very good

good

average

poor


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FINDINGS AND ANALYSIS: -

Better rate &Commission.

Flexibility in service providing.

Prompt and Clean Deal.

Customized service.

Immediate feedback / market information on time.

Timely payment of cheque.

Maintenance of Personnel Relationship with clients.

Transparency in operation of business activity.

Reputation/ Goodwill of the firm.

Credibility of the broker.

Research backup.

Past performance/ Experience.

Their presence in the market/ General response of customer in the market.


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RECOMMENDATIONS: -

The Recommendation, which is to be suggested, is as follow: -

Religare securities should enhance the customer care department where queries can be

timely solved.

Religare securities should provide more security to the existing and prospective clients.

There should be more banners posters pamphlets distribution in the market to increase the

awareness level among the people.

It should provide regular and update market information.

There should be target incentive for executive which will boost up their morale will give

more and more business to Religare.

Special attention need to be given to the delivery of monthly & fortnightly report to the

clients.

Timely release of Brokerage & Fast redressal of clients grievance is a major plus point, if

Religare is looking to develop long term relationship with its clients.


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CONCLUSION

In spite of the bleak and grim out look the future of capital market is growing at a very

highpace. Taking these things into consideration there are lots of opportunity for the BrokerHouse which already exist and which are due to enter in the Indian market. These are little

awarenessabout Equity and Mutual funds in India people have accepted it as one of the major

investmentavenue. As people have entered in this particular investment avenue they have lost

their moneybecause of movement in the market, which is below the par value and this, has

shaken the faithof investor in this particular avenue. Another reason for low investment in

this sector is thatmost of the companies are not performing well and also due to the scams

that are taking placefrequently Once people know about the benefit offered by it, Capital

market will become one ofthe sought after investment avenue. The only thing which is

needed to focus on is that theyshould have a strong marketing strategy so that prompt serviceand availability of forms is madeavailable to the investors at a short notice provided that it

keeps into mind the traditional base formarketing in India, which is a price sensitive. We can

say that Religare has a great future ahead.

Religare has emerged a very strong player in the field of distribution of financial product

withina short period of one year in Northern India and is giving stiff competition to the entire

player inthe Delhi & other parts. If the progress of Religare goes in the same way then I can

say thatReligare will be going to emerge as a major player in the Capital market. They have

much morepotential to expand their business and market in India.


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BIBLIOGRAPHY

Books

Capital Market module (NCFM) 71

Capital Market by Sanjay Aggarwal

http://www.indianjournals.com/ij/importance of Crm or.aspx?

target=ijor:glogift2k8&volume=1&issue=1&article=chap048

Weblinks

http://www.religare.in/

http://www.religarecommodities.com/product_rally.asp

http://money.rediff.com/companies/religare-enterprises-ltd/14010630/ratio

http://indiaearnings.moneycontrol.com/sub_india/financialreports.php?

sc_did=RE09&type=profit

http://indiaearnings.moneycontrol.com/sub_india/financialreports.php?

sc_did=RE09&type=balance

http://www.moneycontrol.com/company-facts/religareenterprises/history/RE09

http://www.theinvestor.tv/money/thebrokerageindustry.htm

http://www.economywatch.com/market/share-market/share-market-trading.html

http://bseindia.com/deri/Deri/Introduction.htm?L=2&id=hd1&Lid=0

http://bseindia.com/deri/Deri/Eligibility.htm?L=2&id=hd1&Lid=1# http://

http://crmweblog.crmmastery.com/

http://www.thetawer.com/wiki/images/4/43/B._Customer_Relationship_Management

_A_Framework.pdf
http://www.indianjournals.com/ij/importance%20of%20Crm%20or.aspxhttp://www.religare.in/http://www.religare.in/http://www.religare.in/http://www.religarecommodities.com/product_rally.asphttp://www.religarecommodities.com/product_rally.asphttp://www.religarecommodities.com/product_rally.asphttp://money.rediff.com/companies/religare-enterprises-ltd/14010630/ratiohttp://money.rediff.com/companies/religare-enterprises-ltd/14010630/ratiohttp://money.rediff.com/companies/religare-enterprises-ltd/14010630/ratiohttp://www.moneycontrol.com/company-facts/religareenterprises/history/RE09http://www.moneycontrol.com/company-facts/religareenterprises/history/RE09http://www.moneycontrol.com/company-facts/religareenterprises/history/RE09http://www.theinvestor.tv/money/thebrokerageindustry.htmhttp://www.theinvestor.tv/money/thebrokerageindustry.htmhttp://www.theinvestor.tv/money/thebrokerageindustry.htmhttp://www.economywatch.com/market/share-market/share-market-trading.htmlhttp://www.economywatch.com/market/share-market/share-market-trading.htmlhttp://www.economywatch.com/market/share-market/share-market-trading.htmlhttp://bseindia.com/deri/Deri/Introduction.htm?L=2&id=hd1&Lid=0http://bseindia.com/deri/Deri/Introduction.htm?L=2&id=hd1&Lid=0http://bseindia.com/deri/Deri/Introduction.htm?L=2&id=hd1&Lid=0http://bseindia.com/deri/Deri/Introduction.htm?L=2&id=hd1&Lid=0http://www.economywatch.com/market/share-market/share-market-trading.htmlhttp://www.theinvestor.tv/money/thebrokerageindustry.htmhttp://www.moneycontrol.com/company-facts/religareenterprises/history/RE09http://money.rediff.com/companies/religare-enterprises-ltd/14010630/ratiohttp://www.religarecommodities.com/product_rally.asphttp://www.religare.in/http://www.indianjournals.com/ij/importance%20of%20Crm%20or.aspx


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QUESTIONNAIRE

Dear Respondent,

I, Arjun Singh, am a student of MBA in PCTE, Baddowal. I havebeen assigned project on

the topic Customer Relationship Management inReligare Securities with special reference toequities.As part ofmy project I am collecting data through this questionnaire for theProject.

The information provided by you will remain confidentialand be used for academic purposes

only.

Q1. In which profession are you engaged in?

A. Business

B. Services

C. Entrepreneur

D. Others

Q2. For how many years have you been trading through Religare?

A.


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F. Any other

_______________________________________________________________________

___________________________________________________________

Q6. Choose any 3 from the mentioned practices which you think are important from a

company point of view?

A. Providing optimum solutions to customers problems

B. Giving Updated information of new policies

C. Long term concessions

D. Door step services

E. Regular in touch after selling

F. Any other

_______________________________________________________________________

________________________________________________________________ .

Q7. Choose any reasons why Religare should follow the above mentioned practice

A. Building brand image

B. Competitors

C. Retention of customers

D. Increase in sales and profits

E. Positive word of mouth

F. Any other

________________________________________________________________________

_______________________________________________________________ .

Q8. Please tick the desired answer.

Services Excellent Very

Good

Good Average Poor

Staff Efficiency

Redressing of complaint

Timely Response

Updated information

Clarity

ofconcept(Initialinformation)


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Q9. Are these Customer Relationship marketing policies followed influential in further

investing?

A. Yes

B. No

Q10. Will you recommend investing in stock market through Religare to others?

A. Yes

B. No

Q11. What has been your experience in stock market?

A. Excellent

B. Very good

C. Good

D. Average

E. Poor

Personal details

Name:

Age:

Gender:

Annual Income:

Thank you for cooperation and valuable time.

Religare Financial Summer Project

Documents

Transcript of Religare Financial Summer Project