Sales and Marketing

A Summer Training Project Report

Submitted in partial fulfillment of the requirements for the

Award of degree of Bachelors of Business Administration

2018 – 2021

Submitted by Guided by
Mohit Singhal Dr. Bhawna Dhawan

I
II
Bharati Vidyapeeth (To Be Deemed) University, Institute of Management &
Research, New Delhi
An ISO 9001:2008 14001:2004 Certified Institute
A-4, Paschim Vihar, New Delhi – 110063 (Ph.: 011-25284396, 25285808 Fax: 011-25286442)
Ref: Date:

Certificate of Originality

This is to certify that the project report entitled “SALES AND MAKETING ”
submitted to Bharati Vidyapeeth Deemed University, Pune, in partial fulfillment
of the requirement for the award of the degree of Bachelors of Business Administration,
is an original work carried out by me under the guidance of DR. BHAWNA
DHAWAN. The matter embodied in this project is a genuine work done by me has been
submitted neither to this University nor to any other University for the fulfillment of the
requirement of the course of study.

MOHIT SINGHAL

III
Bharati Vidyapeeth (To Be Deemed) University, Institute of Management &
Research, New Delhi
An ISO 9001:2008 14001:2004 Certified Institute
A-4, Paschim Vihar, New Delhi – 110063 (Ph.: 011-25284396, 25285808 Fax: 011-25286442)
Ref: Date:

Certificate of Originality

This is to certify that the Summer Training Project Report Titled “SALES AND
MARKETING” Submitted to Bharati Vidyapeeth Deemed University Institute of
Management and Research, New Delhi in partial fulfillment of the requirement for the
award of the BBA is an original work carried out by MOHIT SINGHAL under the guidance of
DR. BHAWNA DHAWAN. To the best of Project guide’s knowledge and belief the matter
embodied in this project is genuine work done by the student and has been submitted neither to this
University nor to any other University for the fulfillment of the requirement of the course of study.

DR. BHAWNA DHAWAN

IV
Bharati Vidyapeeth (To Be Deemed) University, Institute of Management &
Research, New Delhi
An ISO 9001:2008 14001:2004 Certified Institute
A-4, Paschim Vihar, New Delhi – 110063 (Ph.: 011-25284396, 25285808 Fax: 011-25286442)
Ref: Date:

CERTIFICATE

This is to certify that the Project titled “SALES AND MARKETING” is an academic
work done by “MOHIT SINGHAL” submitted in partial fulfillment of the requirement,
for the award of the Degree of Course, from B h a r a t i Vidyapeeth Deemed
University, Pune. It has been completed under the guidance of DR. BHAWNA
DHAWAN and MR. HARSHIT SINGHAL. We are thankful to LANCERS COUNSEL
SERVICES PVT. LTD. for having allowed our student to undergo project work training.
The authenticity of the project work will be examined by the viva-voce examiner, which
includes data verification, checking duplicity of information etc., and it may be
rejected due to nonfulfillment of quality standards set by the Institute.

DR. VIKAS NATH

DIRECTOR

V
 Table of Contents
CHAPTER – 01 ......................................................................................................................... 1
ABOUT THE COMPANY........................................................................................................ 1
1.1 OVERVIEW OF THE INSURANCE INDUSTRY AS A WHOLE .................................. 2
INTRODUCTION ......................................................................................................................... 2
TYPES OF LIFE INSURANCE IN INDIA: ............................................................................. 2
1.2 PROBLEMS OF THE INSURANCE INDUSTRY ........................................................... 3
MARKET SIZE ............................................................................................................................. 4
Impact of COVID-19 on the Life Insurance Industry .................................................................... 5
How COVID-19 impacted Edelweiss Tokio Life Insurance Company? ....................................... 6
1.4. PROFILE OF THE COMPANY ............................................................................................ 7
VALUES: ................................................................................................................................... 8
BOARD OF DIRECTOR .............................................................................................................. 9
1.6. SWOT ANALYSIS .............................................................................................................. 10
CHAPTER -2........................................................................................................................... 12
JOB DESCRIPTION ............................................................................................................... 12
Objective: ..................................................................................................................................... 14
My responsibilities as an intern ................................................................................................... 14
PURPOSE OF THE JOB ............................................................................................................. 15
SCOPE ......................................................................................................................................... 15
CHAPTER -3........................................................................................................................... 16
JOB ANALYSIS ..................................................................................................................... 16
3.1 INTRODUCTION OF JOB ANALYSIS ...................................................................... 17
3.2 PURPOSE OF JOB ANALYSIS .................................................................................. 17
3.3 MY JOB ANALYSIS ................................................................................................... 17
3.4 DAYS WISE WORK DIVISION: .................................................................................... 18
CHAPTER – 04 ....................................................................................................................... 22
LEARNING OUTCOME ........................................................................................................ 22
Team Work: - ............................................................................................................................... 24
Communication skills: - ............................................................................................................... 24
Planning and organizing .............................................................................................................. 24
Prioritizing work .......................................................................................................................... 24
Responsibility: - ........................................................................................................................... 24
Relational Aptitudes: - ................................................................................................................. 25

VI
 Time Management: - .................................................................................................................... 25
Making connections: - ................................................................................................................. 25
Formal Conversation.................................................................................................................... 25
Fearlessness and Confidence: - .................................................................................................... 26
CHAPTER – 05 ....................................................................................................................... 27
SUGGESTIONS ...................................................................................................................... 27
SUGGESTIONS .......................................................................................................................... 28
ACHIEVEMENTS ...................................................................................................................... 29
CONCLUSION ............................................................................................................................ 30
REFERENCES: ....................................................................................................................... 31

VII
 ACKNOWLEDGEMENT

On the very outset of this report, I would like to extend my sincere and heartfelt obligations towards
all the personages who have helped me in this endeavour. Without their active guidance, help,
cooperation & encouragement, I would not have made headway in the project. I am extremely
thankful and pay my gratitude to my faculty DR. BHAWNA DHAWAN for her valuable guidance
and support on completion of this project in its presently. I extend my gratitude to BHARATI
VIDYAPEETH (DEEMED UNIVERSITY) INSTITUTE OF MANAGEMENT AND
RESEARCH for giving me this opportunity. I also acknowledge with a deep sense of reverence,
my gratitude towards my parents and members of my family, who have always supported me
morally as well as economically. At last but not the least gratitude goes to all my friends who directly
and indirectly helped me to complete this project report.

MOHIT SINGHAL
0181BBA090

I
 EXECUTIVE SUMMARY

A Marketing Intern assists with all stages of marketing campaigns, including drafting proposals,
preparing presentations and researching consumer trends to identify marketing needs. Marketing
Interns can work in a wide variety of industries that have marketing departments. Marketing Interns
provide their teams with needed help when developing, expanding and maintaining marketing
channels.

As a college student, it can be quite difficult to find someone who is willing to let you get hands on
experience in your target industry. Since most job openings, including entry-level jobs, require some
sort of experience in the industry, internships are often the only way that a student can get that
experience.

Learning in the classroom through discussion and texts is one thing, but actually working on a
business’ marketing plan is a whole other opportunity. An even bigger bonus for students in this
generation is that many older executives and employees are less familiar with digital marketing, so
you actually have the chance to make a real impact.

My first day started with the briefing session i.e. the work I have to do and generate results for the
company. From 2nd day onwards, I started understanding the entire market of India and used various
filters like geographic, demographics, psychographics etc and figured out the target group/market
for the company whom it will target them through appropriate advertisements to convert them into
customers. Then, I started working on understanding the consumer behaviour of the target market,
which is the toughest job for every marketer. So, I prepared a detailed questionnaire for a survey, to
understand the unfulfilled needs and problems of the customers and how the company can cater to
that.

After two weeks, I finally got lots of responses from different customers. I tried to understand their
needs and problems and soon started working on analysing advertising channels. I contacted some
popular T.V channels, Radio channels, Newspaper and Magazine advertisers, Billboard advertising
agencies to know the advertising costs, the reach of the advertisements and revenue to be generated.
I also analysed online and social media advertising data. Based on Return on Investment (ROI) and
survey on Integrated Marketing Communication (IMC) channels, I selected appropriate advertising
channels for Edelweiss Tokio Life Insurance

II
My corporate mentor was really help me a lot with the work I did for entire 30 days along with my
teammates. Finally, when I was awarded the certificate of completion of the internship, I felt all my
hard work and dedication paid off!

MOHIT SINGHAL

III
 CHAPTER – 01
ABOUT THE COMPANY

1
1.1 OVERVIEW OF THE INSURANCE INDUSTRY AS A WHOLE
INTRODUCTION

According to IBEF (2020), India's insurance industry incorporates 57 companies, 24 of them in life
coverage, and 33 in non-life coverage. Life insurance corporation of India (LIC) is the main
enterprise in the open division. Other than that, there are six open segment safety net providers
among non-life backup plans. Also, the General Insurance Corporation of India (GIC Re) is the
main local reinsurance organization. Agent, Brokers, Surveyors, and third-party administrators are
included by other Stakeholders in the Indian insurance market servicing Health insurance claims.

Mergers and acquisitions

On January 9, 2020, at a valuation of around Rs 2600 crore, HDFC ERGO acquired Apollo Munich
Health Insurance. HDFC completed the acquisition of 51.25 percent shares in Apollo Munich Health
Insurance Company Limited (AMHI).

Through a new distributing exchange platform, India’s leading Bombay Stock Exchange (BSE) has
set up a joint venture with EBIX Inc and came into operations on 7 February 2020 to build an
insurance distribution network in the country.

TYPES OF LIFE INSURANCE IN INDIA:

According to COVERFOX (2020), there are many life insurance policies in INDIA which people
uses are described below: -

Unit-linked investment policies (ULIP): In this, the person enjoys the benefits of both insurance
and investment. This includes both things. Along with paying the premium amount towards the life
cover, the policyholder gets to invest the remaining money in different types of funds that invest in
debt and equity instruments. These plans are quite similar to mutual funds, but there is one difference
that ULIPs also provides the benefit of insurance along with investment

Term insurance policies: In this, the immediate needs of the nominees in case of uncertain or
unfortunate death of the policyholder are secured. No monetary benefit other than the tax benefit is
provided to the policyholder at the end of the policy term. After the demise of the policyholder, the
sum assured is paid to his or her nominee. This type of plan is relatively cheaper as compared to
other insurance plans.

2
Money-back policies: These policies are like endowment plans where a fixed amount is received
by the policyholder at certain intervals throughout the policy term. In case of the demise of the
policyholder, the sum assured is paid to the nominees. This plan may vary from company to
company.

Whole life policies: This plan is a bit different from the other plans. In this, the policy term is not
defined so the policyholder enjoys the benefits or the life cover for his entire life.

Pension policies: These policies consist of a fixed amount of income after retirement. This type of
investment is done with a mindset of planning for retirement. In this, the sum assured depends upon
the capital invested and the investment pension plans.

1.2 PROBLEMS OF THE INSURANCE INDUSTRY

There are the biggest challenges for insurance companies.

1. Lack of trust

2. Competition

3. Mismanagement

4. Weak Manpower

1. Lack of trust: - Many of the insurance firms fail to pay claims, and they don’t own up to
offering some benefits, this is the reason why many individuals don’t bother with insurance. It is
considered an unnecessary expense.

2. Competition: - Each company looks for the best way of selling its insurance products in the
best possible way and targets a particular group of individuals. Therefore, there are many insurance
firms on the market and therefore, there is an intensive challenge for insurers. Most people trust
some of the existing insurance firms as compared to new businesses are the most doubted since the
new enterprise is operated on a thin line between failure and success. Although no one will want to
take such risks with the little amount of money that they have.

3. Mismanagement: - One is solely responsible for all issues that his or her clients may have
regarding the management of the insurance business as being the owner of the insurance business.
Mismanaged insurance firms can’t hide their faults for a longer time without clients noticing.
Several client’s complaints will be a constant increase if his or her insurance firm is not transparent
then he or she will lose more customers.

3
4. Weak Manpower: - Nowadays non- professional run many insurance companies today.

- Many people think that what it takes to be an insurance professional is some knowledge of
monetary studies with no specialized training which has majorly affected the dependability and
operations of insurance firms in this century.

MARKET SIZE
Government insurance arrangements have step by step expanded the nation's insurance infiltration
and multiplication of insurance plans. The collection of gross premiums by life insurance companies
in India increased from Rs 2.56 trillion in FY12 to Rs 7.31 trillion in FY20. During FY12–FY20,
the premium from the new business of life insurance companies in India increased at a CAGR of 15
percent to reach Rs 2.13 trillion in FY20. Overall insurance penetration in India has increased from
2.71 percent in 2001 to 3.69 percent in 2017. The market share of private sector companies in the
non-life insurance market reached 56 percent in FY21(until April 2020) from 15 percent in FY04.
In the life insurance industry, private companies have a market share of 31.3 percent in new business
in FY20.

4
Impact of COVID-19 on the Life Insurance Industry

According to MONEYCONTROL (2020), There has been a powerful impact of coronavirus

(COVID-19) on the life insurance sector. A considerable decrease in the collection of premiums has
been observed. There is a downfall in the industry because of this pandemic. A 32.2% year-on-year
decrease has been discovered in the collection of the new premiums by the Insurance Regulatory
Development Authority of India (IRDAI). A decline was experienced in March 2020, that is, the
new premium collection, from Rs.37,459 crore in March 2019 has come down to Rs.25,409 crore
in March 2020. Similarly, there was a decline in April 2020, from Rs.9,928 crore in April 2019 to
Rs.6,728 crore in April 2020. The lockdown implemented on 25 march 2020 has negatively affected
this sector due to which the sales have suffered a lot. The offline channels were not able to perform
during this lockdown due to the pandemic. So, the insurers had to come up with online channels to
increase their sales.

As of now, the life insurance companies distribute their policies through the two largest distributors,
which are the banks and the agents. The medium to distribute the policies has to be quickly changed
from offline to online mode. Various life insurers have switched to online operations and have been
selling the insurance policies through their company’s website along with reaching their customers
through a video call. The companies are trying to reduce their cost as the branch walk-ins are nearly
zero but the rental costs are still being incurred. So, during this time of continuous risks, multiple
branches are being reviewed to reduce the branches on a per-city basis by looking at the cost of
running those branches and then gradually shutting down the selected ones.

Despite all this, the branches in the small towns are allowed to run its operations so that the
customers have access to the representatives of the company, which will help them in buying the
policies, filing claims, and after-sales servicing. Along with this, the reshuffling of the branches and
the manpower will take place.

5
How COVID-19 impacted Edelweiss Tokio Life Insurance Company?

According to CONTROL MONEY (2020) Despite the lockdown due to this pandemic, Edelweiss
Tokio Life Insurance Company experienced a growth in the collection of new premiums. The reason
behind this growth is the action taken by the company to prepare itself against this situation, which
it predicted way too earlier than the implementation of the lockdown. This made it to run its
operation smoothly during this time.

The company-initiated work from home on 14th and 15th March on a trial basis, which helped them
to come across various situations that may appear shortly and would impact their operations.

According to Mr. Sumit Rai, MD, and CEO, Edelweiss Tokio Life Insurance Company, the IRDAI
shows that the company has experienced high growth, that is, by 47.5% year-on-year at Rs.16.46
crore in the first-year premium in April. This was possible due to the regular training being provided
to the sales force of the company, which included the medium to reach out to the customers through
digital platforms and conducting the meeting online.

Though there was a little decline in the new premium collection between 24th March to 31st March,
by April, that is on 14th and 15th the company saw an increase in the premium, and by 17th and
18th, there was a further increase when compared to the last year.

6
1.4. PROFILE OF THE COMPANY

EDELWEISS TOKIO LIFE INSURANCE COMPANY LIMITED

According to TOKIO, EDELWEISS (2011), The company was established in 2011. It is a joint
venture between Edelweiss Financial Services, one of India’s leading and diversified financial
services organizations, and Tokio Marine, one of the oldest insurance companies.

Customer-centricity is one of its core values. Customers’ needs and preferences are clearly
understood by the company even before it offers a solution to them. This helps to provide just the
right solution that is tailored to the needs. To support its consumers to meet their financial goals
Edelweiss Tokio in July 2011, launched its Pan India operations by offering proprietary need-based
solutions. This helps the company to get a clear understanding of its customer needs. The company
has its headquarters in Mumbai.

In my study, I will be mentioning particularly the traditional plans. Smart Lifestyle is a traditional
plan which includes, “Family Protection Option” and “Base Option”

BRAND PROMISE: “Insurance se badhkar hai aapki Zaroorat”

This value encourages the company to be transparent and fair so that the nominees experience a
hassle-free settlement of their claim. The claim settlement ratio for the FY 2018-2019 is 95.82%

VISION:

“We will take the responsibility of protecting people’s dreams and aspirations. We will proactively
find out what people’s dreams and aspirations are and what could potentially hinder their dreams
and aspirations. We will then bring our expertise and resources to help them fulfill their dreams and
mitigate counsel hindrances.”
7
VALUES:

1. Customer Centricity 2.Quality 3. Cost consciousness

LANCERS COUNSEL SERVICES PVT. LTD.

According to HARSHIT SINGHAL (2019), The company is the leading provider of professional
wealth advisory in India. Lancers Counsel delivers a one-stop solution/service to achieve financial
independence. The principle is to provide high returns to its clients through a network of government
sector banks in India. Lancer Counsel’s comprehensive wealth management is a high-level
professional service that combines financial and investment advice in accounting, taxation services,
and retirement planning. Its wealth management is much more than just investment advice as the
company encompasses all parts of an individual’s financial life. The company coordinates all the
services needed to manage the client’s money and plan for their own and family’s current and future
needs. Also, it maintains and increases the wealth of its clients based on their financial situation,
goals, and comfort level with risk.

Lancers Counsel Services Pvt. Ltd. acts as an agent to Edelweiss Tokio Life Insurance Company.
Along with this, the company operates in the tourism sector as well. This company also guides in
resume building, recruitment process, and career development (HR sector). Its prime aim is
customer satisfaction which it believes, can only be gained by providing quality services on time.

8
MISSION: The prime aim of our organization is customer satisfaction, which helps us to
construct a favorable network with the traveler from the utmost corners of the world so that need
and want to be fulfilled by us. Customer satisfaction can only be gained by quality services and time
to time services. Our organization tries to give the utmost dignity/satisfaction and lavish depending
upon the traveler’s needs and preferences. Our organization has proven to be a cost-effective
strategy relative to other mediation.

VISION: Our vision is to grasp the immense capabilities of national and international tourism by
providing the articulate services that persistently our customer’s expectation and to refine,
determine, and repose innovation tramp services

OBJECTIVE: It provides risk protection for companies and individuals. Regular free is paid for a
policy that outlines. The damage or loss that is insured against, and the damage and loss there not
insured against. The most popular forms of policies include health, home, life, property, liability,
and automobile.

BOARD OF DIRECTOR

Director Identification Name Designation Date of

Number
Appointment

08378592 SHIV KUMAR Director 01 March 2019

SINGHAL

9
 08378603 HARSHIT SINGHAL Director 01 March 2019

1.6. SWOT ANALYSIS

SWOT examination is a key arranging technique used to help an individual or association recognize
qualities, shortcomings, potential outcomes, and dangers connected to business rivalry or
undertaking arranging.

Strengths

It characterizes what an association exceeds expectations and what recognizes it from contention:
an incredible brand, a reliable customer base, a ground-breaking asset report, particular innovation,
etc. A fence investment, for example, may have made an exclusive exchanging approach that yields
showcase beating results. It at that point needs to choose how to utilize these results to draw in new
financial specialists.

Strengths of a company

The organization's most prominent power is its unmistakable vision of increasing the value of its
customers paying little mind to advertise conditions. This has converted into an understandable and
a well-characterized business system and a retail approach that is spearheading in its
straightforwardness and destructive in its rival focusing on and in its situation adequately.

Another primary quality of the business is its direct thought that converts into a scope of items that
can be gathered by the customers themselves, bringing about hilarious value cuts that are then passed
on to the customers

10
Weakness

Keep an association from giving a valiant effort. These are places where organization requirements
for improvement remain aggressive: a frail brand, higher than normal turnover, high obligation rates,
deficient inventory network, or nonattendance of capital.

The weakness of the organization

If the organization depends upon paper transactions instead of digital solutions, the organization
may look old-fashioned when it comes to selling policies, collecting payments, and reminding
people their payments are due. Without effective processes in place for handling accounting,
marketing, and day-to-day operations, the organization business may face crises that affect their
profitability.

Opportunities

They refer to favorable external factors that would give an organization a competitive advantage to
do something shortly. For example, if a country cuts tariffs, a car manufacturer can export its cars
into a new market so that his organization could increase sales and market share.

Opportunities for the organization

As the people are getting aware of life threats and as safety, they are running towards Insurance
Policies. So, the company has a good opportunity as there are more people to register for such
policies. As the organization is moving more towards technology, the system is going online thus
resulting in the attraction of more customers towards the organization.

Threat

Identify the factors that may harm an association. Some of the other common dangers incorporate
issues, are rising material costs, expanded challenge, tight supply of work, etc.

The threat of the organization

A low-value plan of action has been imitated and replicated by its rivals, which infers that if it needs
to stay in front of the challenge, the organization needs always to improve. A few local and
neighborhood organizations, for instance, are additionally focusing on costs, which suggests that
Lancer Counsel Services Pvt will remain nimble and adaptable. Fresher techniques should be
created by the organization.

11
 CHAPTER -2
JOB DESCRIPTION

12
The job description is usually defined as a set of specific tasks and responsibilities that are performed
by a specific job holder. The job description is a broad, general, and written declaration of a
particular job, based on the job analysis result. It usually involves duties, purpose, responsibilities,
scope, and working circumstances of a job.
A job description is developed by conducting a job analysis that includes examining the task and
the task sequences necessary to perform the job. The analysis takes into account the areas of
knowledge, skills that are needed to do that job.
The job description does not need to be limited to explaining the current situation or work that is
currently expected, it can also set goals for what could be achieved in the future, such as routes, and
conditions for promotions.
● JOB TITLE: - Sales and Marketing

● TYPE OF JOB: - Internship

● JOB LOCATION: - 709,7th Floor, Pearls Omaxe Tower, Netaji Subhash Place, Pitampura,
New Delhi-34
● MENTOR: - Mr. HARSHIT SINGHAL

As an intern, I worked in LANCERS COUNSEL SERVICES PVT. LTD COMPANY for 30 days
as a marketing intern i.e. from (JUNE 10,2020 – JULY 10, 2020)

13
Marketing Department:

It is the essence of an endeavor organizing all business items and assembling them. The term
showcasing is characterized as a "movement, set of associations and procedures for creating,
imparting, conveying and trading merchandise that is commendable for customers, customers
affiliations and the entire of society." as far as promoting procedure building, advertising is an
"arrangement of interrelated and related procedures of the business to accomplish client's advantage
and." "Promoting" is a comparable idea, demonstrating the advertising job regarding esteem

Promoting practices have frequently been viewed in the past as inventive, business, assembling, and
deals parts.

The marketing technique incorporates expansive statistical surveying, advertising concentrate, and
division, assembling, valuing and advancement methodologies and correspondence procedure,
planning, and the vision for reasonable market development destinations. The promoting system
incorporates the showcasing strategy.

Objective:

The objective of this task is to produce insurance to the candidates, when analyzing every supporting
document, before granting insurance with assurance. an application is assessed by social insurance
company rules and rules governing credit call and the law governing corporations in Delhi.
However, the objective of insurance is to financially guard against unpredictable life occurrences.
In short, after you purchase an associate degree contract, you create monthly payments, known as
premiums, to buy protection from financial repercussions associated with things like accidents,
unwellness, or maybe death.

My responsibilities as an intern

As an intern, the company gave us responsibilities i.e. to help the general agent to see the
completeness of supporting documents, to see whether or not data provided by the applicant is
reliable, to provide necessary data to the insured candidates. Corporate, manage and support the
daily marketing functions and initiatives within the company, identifying new customers, and
function opportunities.

Monitor insurance claims to make sure mutual satisfaction, Work with shoppers to deliver risk
management ways that match their risk profiles, Work with shoppers to deliver risk management

14
ways that match their risk profiles

PURPOSE OF THE JOB

To learn and develop the skills to add to the accomplishment of quickly developing and imaginative
associations. I need to find my maximum capacity and have any kind effect both at work just as in
the public arena.

SCOPE

Life insurance enjoys maximum scope because life is the most important property of the society or
an individual. Every person requires insurance. This insurance provides protection to the family at
premature death or gives adequate amounts at old age when earning capacities are reduced. The
insurance is not only a protection but it is a sort of investment as a certain sum is returnable to the
insured at the death or the expiry of a period. This will help the company/organization to analyze
its position amongst its competitors in the market and to know the consumers’ perception in the life
insurance sector which can help the company to improve in certain areas and to build up strong
relations with its consumers.

15
CHAPTER -3
JOB ANALYSIS

16
3.1 INTRODUCTION OF JOB ANALYSIS

Job analysis is the method by which relevant data about a job is acquired, that it is through a
systematic analysis of data related to a particular job, activities, and duties. An agency has described
job analysis as the process of determining, observing, and studying, and reporting relevant data on
the nature of the particular work. It is the determination of the duties that constitute the job and the
skills and duties that the employees need for a good performance and that distinguish one job from
all others. Job analysis is the procedure and a tool to determine each job’s specified duties, activities,
and specifications.

It is the method of obtaining job data in particular, what the employee does, how he/she does it, why
he/she does it, skills, education, and training needed, connections with other employees, physical
requirement, environment circumstances. It is a full work survey that embodies every recognized
and determinable factor, including the duties and obligations involved in performing it, the
conditions under which achievements are performed, nature of the assignment. The characteristics
and circumstances of the job such as pay, hour, possibilities, and privileges in the employees. It also
emphasizes the organization’s relationship between one job and another.

3.2 PURPOSE OF JOB ANALYSIS

The primary purpose of undertaking a job analysis method is to use this particular data to build a
correct fit between work and worker, to evaluate an employee’s performance, to determine the value
of a particular assignment, and to evaluate an employee’s training and growth requirements. It is
useful for a marketing manager to the extent that it helps him/her to know what the job requires of
the incumbent/mandatary in terms of knowledge and skills.

3.3 MY JOB ANALYSIS

As an intern, my primary goal was to know and learn from my capability the practical understanding
of the business sector. My first job was to know the organization, the environment, the vision, the
task, the objective, the way I work, and the culture.

17
A start-up that doesn't have much of the Department's' LANCER COUNSEL SERVICES
PVT.LTD.' is run by Mr. Harshit Singhal who was my mentor during the internship. It employs
part-time interns or commissioned sales agents and is assigned special duties depending on their
main fields. Some conduct multi-tasks, some in selling or billing.

3.4 DAYS WISE WORK DIVISION:

I worked in the company as an intern for a period of 30 days (June 10th, 2020 - July 09th, 2020)

DAYS WORK TYPE

1-4 Induction Training

5-9 Layout design & Assignment

10-12 Finance related work

13-23 Market survey and approaching clients and

new people

24-28 Report framing

29-30 Finalizing and completing the internship work

DAY 1-4 (Induction Training)

In this particular period, the company official working on the marketing and sales work especially,
guided the interns and provided us the necessary inputs which were necessary for caring on with the
work. These inputs were like brief about the company, about the important people to be approached
in case of any doubt, stating the objectives and further objectives of the study, creating a basic layout
and designing it well to suit the company’s condition, creating mindset whom to approach and how

18
to approach, how to strive customers to buy the products and so on.

DAY 5-9 (Layout Design & Assignment)

In this period, the company has given interns the work that has to do like stating the objectives and
further objectives of the study, then creating the layout of how to carry on the work with the study,
and finally drafting an approved format of working on the project. In this process, the corporate
mentor gave interns full guidance which helped them in making changes to the rough layout and
finally getting on with the finalized layout of working on the project of the sales and marketing of
the company’s product in the market to the new clients.

On this day, the organization gave a brief about Life coverage Corporation (LIC) and Edelweiss
Tokio and gave the assignment to set up the introduction of the two organizations. Gatherings were
made by interns together. From that day interns, genuine work started, their primary job is to call a
scope of potential information bases and discover significant notes for our customers. In this
procedure, the organization gave the interns the chance to upgrade their relational abilities with
existing and new clients.

DAY - 10-12 (Finance related work)

During these days the company/organization instructed the interns how to deal with the clients and
how to handle them and influence them to buy our policies through finance terms like- TAXATION
SLABS, 80(C), 80(D), 10(10 D).

1.Taxation slab

Indian taxation System follows taxation slabs for levying the tax on the financial gain of a personal
or non-individual. ... This tax applies to the variety of financial gain, which is named taxation Slabs.
The slabs of taxation keep dynamic from year to year.

Tax Slab Old Tax Regime New Tax Regime

Up to Rs. 2,50,000 Nil Nil

19
 From Rs. 2,50,000 - 5,00,000 5% 5%

From Rs. 5,00,000 - 7,50,000 20% 10%

From Rs. 7,50,000 - 10,00,000 20% 15%

From Rs. 10,00,000 - 12,50,000 30% 20%

From Rs. 12,50,000 - 15,00,000 30% 25%

Above Rs. 15,00,000 30% 30%

Section 80(C): - Deductions on Investments

According to CLEARTAX (2020) People can claim a deduction of Rs 1.5 lakh from your total
income under section 80C. In simple terms, people can reduce up to Rs 1,50,000 from their total
taxable income, and it is available for mainly individuals and HUFs.

If people have paid excess taxes, but have invested in LIC, PPF, Mediclaim, paid children’s tuition
fees, etc. and have missed claiming a deduction for the same, they can do so while filing Income
Tax Return. The Income Tax Department will refund the excess money to the people’s bank
account.

Section 80D – Medical Insurance: - Deduction for the premium paid for Medical Insurance

People (as an individual or HUF) can claim a deduction of Rs.25,000 under section 80D on
insurance for self, spouse, and dependent children. An additional deduction for insurance of parents
is available up to Rs 25,000 if they are less than 60 years of age. The deduction amount is Rs 50,000
if parents are above 60 years of age.

If both the people (taxpayer and parent(s)) are 60 years or above, the maximum deduction available
under this section is up to Rs.1 lakh. Example: Ashu’s age is 62 and his father’s age is 88. In this
case, the maximum deduction Ashu can claim under section 80D is Rs. 100,000.

Section 10(10D): -

According to COVERFOX (2020) Offers tax deductions on claims, i.e. Maturity and Death benefit,
20
which includes all forms of accrued bonuses against the respective life insurance policies. Tax
deductions can be availed on all types of life insurance policy claims under this section. There is no
upper limit on the claim.

DAY - 13 - 23 (Market Survey)

In this particular time frame, the number of days the company has allotted to me was less as
compared to the amount of work, but the work given by the organization to me was accepted as a
challenge rather than a burden. The company has provided me with the basic layout of how to
proceed with the work, how and whom to approach, how to make people buy the products, and the
organization also provide us with the description of the various product of the company which was
beneficial in displaying and explaining about the products to the new clients through an online and
offline portal.

DAY - 24 - 28 (Report Framing)

After the completion of my market survey and dealing with various types of people, I finally had a
clear picture in my mind about how to carry on with framing the final report. In this report, I
combined the initial layout designed, the product description of the company along with the market
survey which stated the product sold, the interactions, and the opinions of the people about the
company. This review analysis of the market was very essential for the company to consider the
aspects and work accordingly to succeed more in the long run and near future.

DAY - 29 - 30 (Finalizing and completion of work)

After my project related work is completed, the organization has asked all the interns to combine
all the work studies and made them together so that it is easier for the company to use them again
and again to gather necessary and valuable information about the market trends as per my
observation and opinions of the people about the company. The work is ready based on the market
surveys and the description of the product along with the layout of the work, this way the internship
project was completed by me.

21
 CHAPTER – 04
LEARNING OUTCOME

22
A learning outcome is a straightforward declaration of what a learner is expected to be able to do,
understand the value of completing a project, and how well these results should be expected to be
achieved. During my internship, I learned many things that will be going to help me in my upcoming
future. While working I understood that scholarly learning isn't sufficient to work in the corporate
area. It requires significantly more than that. Furthermore, I got genuine experience of working
incorporates. There are some central matters which I think I gained from this entry-level position
and they are enrolled underneath: -

The most effective method to work in a corporate area: -

● Significance of preparing
● What issues work together to face
● How they manage their issues
● Significance of reports
● Step by step instructions to keep up a solid domain in an association and its significance
● The most effective method to keep up an association with our partners
● Why we ought to keep up an association with our clients
● Being a business what are our obligations towards the condition
● There I got an opportunity to clean my relational abilities
● Significance of time
● It upgrades my relational abilities
● Step by step instructions to take care of an issue and settle on the right choices
● Upgraded arrangement aptitudes
23
● Significance of reliability

Team Work: -

One of the things the interns had learned during this internship is teamwork and how to adjust
between new people, how to work in a group as a team to get an effective output. It helped interns
to work as a team without focusing entirely on individuals. It helps interns to know and respect the
different points of view in the organization.

Communication skills: -

During the internship, the intern’s communication skills had improved a lot because of the project
in which they had to deal with professionals and convince them. As it’s one of the top listed skills
that the recruiter looks for in a resume.

Planning and organizing

Planning and organizing were required in my internship a lot because my internship was all about
managing my deadlines and to complete tasks on time. So, that is why I had to plan the tasks properly
and by the period that by when to complete the tasks.

Prioritizing work

I also learned how to prioritize the work provided to me. As I had a lot of tasks at the same time so
I had to look for the deadlines and then prioritize my works according to the deadline so that I can
allocate my time and energy to each work according to their priorities and it helped me a

a lot in task management.

Responsibility: -

Every person should be responsible in life and this internship made the interns a little more
responsible as they used to get the data regularly and they had to submit the report regularly. All
these things made the interns a responsible person and helped me to know why being responsible is
hard and important.

Professional skills: -

Working in a private company helps the interns to know how the corporate world works and this
24
internship gives them the exact thing. They were able to get the experience of working with
professionals and adapt to the same. They have improved their professional skills too (how to talk
to professionals or how to communicate professionally through mails or how to handle the
professionals).

Relational Aptitudes: -

The improvement of relational capacities is fundamental and must be proficient accomplished in the
working environment. Truth be told it is essential for any fruitful specialist to connect with lucidity
and strategy. Yet it doesn't infer that you can simply talk and tune in. It is imperative to know
increasingly unpretentious crafts of correspondence, for example, understanding when to lead and
when to make a stage back, which can be learned and seen uniquely, all things considered, work.
When you at the last start working all day, those abilities are likely the best for you–don't neglect
them.

Time Management: -

Interns learned time management as there was a particular time to enter and leave the office. If they
would be late for the office their mentor would ask them for a proper reason and their HR would
guide them and this helps them to improve their time management skills. It also helps them to
complete the allotted tasks on time.

Making connections: -

In addition to the people who will be your references in the future and the interns have tried to do
their internship with new connections i.e. senior employees, clients, interns, prospects, etc. These
people provide them guidance advice to help them in finding their prospects/clients.

Formal Conversation

Formal Conversation was very important always because in the corporate world we take a formal
approach. After all, casual approaches put a wrong impression on our organization and it also affects
your reputation as it shows our dedication towards the job. Moreover, on the very first day during
orientation, I was asked to follow the formal approach so that it does not affect any of our volunteers.
The informal approach may cause risk to my internship as well.

25
Fearlessness and Confidence: -

It has for quite some time been perceived that work is a fundamental piece of both private and expert
improvement, which upgrades your confidence and confidence to make you increasingly
dependable and balanced. It's something other individuals see, as well. Numerous understudies don't
expect that they will remain in college shells however this could be confused during meetings and
in reality, at work as an uninterested association or, more regrettable, as a sign that you just couldn't
care less about yourself. You're amazing to accomplish something you like each day–and to be great
at it.

26
CHAPTER – 05
SUGGESTIONS

27
SUGGESTIONS

I have been an intern in Lacers counsel services Pvt. Ltd. for 30 days. And during this period, I have
observed that there are few things which can be implemented and improvements can be made for
them which they can consider for the growth and betterment of the organization.

➔ Marketing helps society to know what the organization is offering to them. The organization
should focus on targeting new products and new markets to ensure maximum sales and revenue.
Marketing can be done through various means such as advertisements on Televisions, radio,
billboards, newspapers, pamphlets, etc.

➔ The organization should also organize the Monthly Best Performance Award for employees so
that the employees are encouraged to do their best to achieve their goals more effectively and
efficiently.

➔ Most organizations have an annual, monthly, or quarterly survey process where they capture
the overall feedback of your team; how engaged they are, and the business ability to deliver an
exceptional service. Usually, nothing happens. Also, this is where employee feedback can play a
role using tools that allow staff to share ideas on how to improve the client’s experience and for

managers to see how the staff is feeling towards the business.

➔ The company needs to tap the young crowd within the age bracket 18-30 and win over them that

28
purchasing an insurance policy is important as a result of life is extremely unpredictable.

➔ The organization should focus more on placing on the market to be able to attract more customers
and assemble more products to meet the fresh customers' requirements and needs.

➔ There should be a proper employee management system that needs to be followed in the
organization as per my work experience there was no such good system to manage employees and
get to know about their workings. It is a great drawback for such big organizations because of
employee management. It plays an important role in the organization’s development. For example:

- There were 2 WhatsApp groups made, in first group all the interns were present and the second
group was made by our HR which included her members, sometimes what used to happen was that
there used to be a duality of tasks, like some task was given to us in the main group and the HR
would provide the other task, this caused a lot of confusion and wasted time.

➔ The organization should start marketing on platforms like Instagram, Quora, etc. along with
Facebook and LinkedIn. The main advantage of digital marketing is that a targeted audience can be
attracted cost-effectively and measurably which helps the organization to attract new customers
online effectively and efficiently.

➔ The organization should make its application so that the customers can pay their premium online
and if they have some query they can inquire about the same.

These are my suggestions to the organization ‘Lancers counsel services Pvt. Ltd.’ which I think
would help them if they are considered by the organization.

ACHIEVEMENTS
● This internship has given me a lot of valuable experience related to the field of marketing
and immense knowledge about the life insurance industry. Through all this I learnt how to generate
leads, how to approach customers, how to pitch the deal and the successful closure of the deal.

● During my internship I achieved a certificate in “Early Bird Task” for an outstanding

performance.

● I hope my contribution through field sales and the project report may bring a considerable
change in this company.

29
CONCLUSION

Edelweiss Tokio Life Insurance Company can give a strong competition in the life insurance
industry. This statement can be concluded after comparing this company with its competitors on
several factors like traditional plan (policy), market share, claim settlement ratio and benefits from
each company. This company can turn into a tough competitor in the industry if it includes some
more benefits in the policies it offers, like wealth boosters and partial withdrawals other than the
loyalty sum and waiver of premium which can give some additions to the returns and also will attract
more customers.

Edelweiss Tokio has a commendable claim settlement ratio. It has shown a major change in the ratio
since 2015 when it was only 57.14% to the year 2019 when it was 95.82%. If it continues to grow
even at the same pace just by making some minor changes in its existing operations then this can
result into achieving its customers’ trust as well as the market share. Every company gives high
priority to consumer perception and considers it to be of utmost value for the growth of the company.
A customer acts as a foundation to the life insurance industry and so their behavior must be well
understood. Also, almost half of the total respondents lie between 18-40 years of age and they must
be looking for the ways to save or invest the money earned by them to secure their future, so the
company can take advantage of this and can motivate them through their appealing policies.

All this can help the company to improve its performance and bring in more profits.

30
 REFERENCES:
CLEARTAX. (2020, October 09). Deductions on Section 80C, 80D. From Clear
Tax: https://cleartax.in/s/80c-80-deductions
CONTROL MONEY. (2020, May 21). COVID-19 impact | Early planning helped us to counter
lockdown woes: Sumit Rai, Edelweiss Tokio Life CEO. From MONEY
CONTROL: https://www.moneycontrol.com/news/business/companies/covid-19-
impact-early-planning- helped-us-to-counter-lockdown-woes-edelweiss-tokio-life-ceo-
5297991.html
COVERFOX. (2020, September). Section 10(10D) of the Income Tax Act, 1961. From Coverfox:
https://www.coverfox.com/personal-finance/tax/section-10-10d/
COVERFOX. (2020, September). Types of Life Insurance. From Coverfox:
https://www.coverfox.com/life-insurance/articles/types-of-life-insurance-policies/
HARSHIT SINGHAL. (2019, APRIL 01). About Us. From Lancers Counsel Services Pvt. Ltd.:
http://www.lancerscounsel.com/index.html
IBEF. (2020, September). Indian Insurance Industry Overview & Market Development Analysis.
From INDIA BRAND EQUITY FOUNDATION: https://www.ibef.org/industry/insurance-sector-
india.aspx
MONEYCONTROL. (2020, May 20). COVID-19 impact | Life insurance companies may shut down
nearly 1,000 branches to cut costs. From Money
Control: https://www.moneycontrol.com/news/business/economy/covid-19-
impact-life-insurance- companies-may-shut-down-nearly-1000-branches-to-cut-costs-
5291411.html
TOKIO, EDELWEISS. (2011). KNOW US BETTER. From Edelweiss
Tokio:
https://www.edelweisstokio.in/about-us

31
32
 Bharati Vidyapeeth (Deemed to Be University), Institute of Management &
Research, New Delhi
An ISO 9001:2008 14001:2004 Certified Institute
A-4, Paschim Vihar, New Delhi-110063 (Ph.:011-25284396, 25285808 Fax: 011-25286442

Mentee Feedback Report

(2020-10-28) to (2020-11-15)
Batch: BATCH 2018 Course: BBA Branch: BBAGEN Semester: SEM V
Name: Mohit Singhal-0181BBA090
Participants (1/1)

S.No. Avg
(Points)

Mentee Evaluation Parameters

-----------------------------------------------------" SECTION 1" -------------------------------------------------

--------------------------
1 My mentee respected my time and professional responsibilities. 5.00
* (0) ** (0) *** (0) **** (0) ***** (1)
2 My mentee made use of feedback provided throughout the mentoring 4.00
relationship
* (0) ** (0) *** (0) **** (1) ***** (0)
3 My mentee was accessible and available. 4.00
* (0) ** (0) *** (0) **** (1) ***** (0)
4 My mentee communicated regularly with me. 4.00
* (0) ** (0) *** (0) **** (1) ***** (0)
5 My mentee was concerned about academic problems and worked to 5.00
remove these deficiencies.
* (0) ** (0) *** (0) **** (0) ***** (1)
6 My mentee contacted me to assist with improving their course work 5.00
performance.
* (0) ** (0) *** (0) **** (0) ***** (1)
7 My mentee demonstrated a reasonable interest/concern towards me in 5.00
my quest to offer assistance.
* (0) ** (0) *** (0) **** (0) ***** (1)
33
8 My mentee’s behaviour and attitude was generally professional and 5.00
courteous.
* (0) ** (0) *** (0) **** (0) ***** (1)
9 My mentee learned at least one important lesson about their professional 5.00
interest, or life in general from me.
* (0) ** (0) *** (0) **** (0) ***** (1)
10 I recommend my mentee for further professional or personal 5.00
development activities.
* (0) ** (0) *** (0) **** (0) ***** (1)
11 Overall, my mentee participated in most mentoring activities. 5.00
* (0) ** (0) *** (0) **** (0) ***** (1)
12 I anticipate an extended future relationship with my mentee. 5.00
* (0) ** (0) *** (0) **** (0) ***** (1)
Mentor Session Feedback Parameters

------------------------------------------------------" SECTION 2" ------------------------------------------------

---------------------------
13 My mentee effectively uses time to ensure developmental goals are 4.00
met.
* (0) ** (0) *** (0) **** (1) ***** (0)
14 My mentee arrives at meetings on time and is prepared to brief me on 4.00
recent progress and achievements
* (0) ** (0) *** (0) **** (1) ***** (0)
15 My mentee lets me know if goals are unrealistic or action plan needs 4.00
revision
* (0) ** (0) *** (0) **** (1) ***** (0)
16 Overall satisfaction with session 5.00
* (0) ** (0) *** (0) **** (0) ***** (1)
Average 4.63

34
35
36
 Bharati Vidyapeeth (To Be Deemed) University, Institute of Management &
Research, New Delhi
An ISO 9001:2008 14001:2004 Certified Institute
A-4, Paschim Vihar, New Delhi – 110063 (Ph.: 011-25284396, 25285808 Fax: 011-25286442)

Company’s Profile

Name of the Student MOHIT SINGHAL Course BBA -V-A Roll No. 0181BBA090

Name of the Organization: LANCERS COUNSEL SERVICES PVT. LTD.

Address: 709, 7th FLOOR, PEARLS OMAXE TOWER, NETAJI SUBHASH PLACE,
PITAMPURA, NEW DELHI -110034

Telephone No: +91 11 41660664 E-mail ID: info@lancerscounsel.com

Name of the Project: SALES AND MARKETING

Name of the Guide: MR. HARSHIT SINGHAL

Designation: MANAGING DIRECTOR Mobile No. +91-7303181813

Name of the Head HRD: MR. ASHISH RATHORE

Designation: HR HEAD Mobile No. +91- 8929134292

OTHER IMPORTANT DETAILS

Any relationships developed for Convention/Workshop/Placement etc.

Name of the person: ………………………………………………………………………………

Designation: …………………………………… Mobile No. if any: …………………………….…

Is he going to assist for ……………………………Convention/Sponsorship/Workshop/Placement?

/ Any other
(Tick whichever is applicable).

37
 Bharati Vidyapeeth (To Be Deemed) University, Institute of Management &
Research, New Delhi
An ISO 9001:2008 14001:2004 Certified Institute
A-4, Paschim Vihar, New Delhi – 110063 (Ph.: 011-25284396, 25285808 Fax: 011-
25286442)

Student’s Self Evaluation

1. Describe the major assignments/ duties performed during your internship.

Basically, the duties performed during the internship was of sales, marketing and promotion.

2. What goals did you set out to achieve during this internship? At the end of this
internship, do you think you have achieved your goals?

During this internship I set up my goals to sell minimum 8 insurance policies. And I have
achieved it by selling 12 insurance policies.

3. Do you think your work was valuable and made an impact within the organization?
Please explain.
Yes, I think my work as an intern in the organization was valuable as I gave them 12 more
clients to the organization and my reports will be helpful for them in near future to figure out
the latest trend about the market.
4. Did you get enough support from your faculty advisor?

Yes, I got full support from my faculty advisor

5. Were you supervised adequately during the time you were doing your internship?

Yes

6. Do you have suggestions for students who may do an internship with this or any other
employer?

I do suggest other students to do an internship in this organizations they have a chance to learn new
skills like sales, marketing, promotional skills.

38