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The project was carried out at Shine Projects (one of the fastest growing educational institutes), a
company based out of Hyderabad, India. The project was carried out as a part of their Marketing
and Sales campaign, which was strategized over a period of one month. The sector of the project
is to promote the course from the entire available channel and medium (Online and Offline). The
project focuses on generating a new marketing strategies to promote the training courses. It also
covers digitally managing, digitally prospecting, rapport building and liasoning with different
stakeholders to ensure business continuity, and the thought process behind making marketing
strategies are to ensure the course reaches to at least 500 target customers on line.
TABLE OF CONTENTS
LIST OF TABLES
Table Page
Title
No. No.
1 A SWOT analysis of Shine Project’s current market standing 18
2 A PEST analysis of Shine Project’s current market standing 19
2
LIST OF FIGURES
Figur Page
Title
e No. No.
1 Consumer buying process 11
2 Screenshot of companies website 14
3 Shine Projects Competitors 17
4 KRA 19
5 Product Knowledge 20
6 Week 1 work 21
7 Sales Pitch Technique 23
8 Week 2 work 23
9 Consumer behavior 24
10 Social media engagement 25
11 Customer Feedback 26
12 Up selling 27
13 Social Media Marketing 29
14 Week 3 work 32
15 Lead Funnel 35
Chapter 1. Introduction:
Product
Product refers to an item or items the business plans to offer to customers. The product should
seek to fulfill an absence in the market, or fulfill consumer demand for a greater amount of a
product already available. Before they can prepare an appropriate campaign, marketers need to
understand what product is being sold, how it stands out from its competitors, whether the
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product can also be paired with a secondary product or product line, and whether there are
substitute products in the market.
Price
Price refers to how much the company will sell the product for. When establishing a price,
companies must consider the unit cost price, marketing costs, and distribution expenses.
Companies must also consider the price of competing products in the marketplace and whether
their proposed price point is sufficient to represent a reasonable alternative for consumers.
Place
Place refers to the distribution of the product. Key considerations include whether the company
will sell the product through a physical storefront, online, or through both distribution channels.
When it's sold in a storefront, what kind of physical product placement does it get? When it's
sold online, what kind of digital product placement does it get?
Promotion
The brand
The design
Pricing
Market Research
Consumer psychology
Measuring Effectiveness
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STP in Marketing:
STP Marketing stands for segmentation, targeting and positioning. STP Marketing makes the
process of marketing easy. It is very easy to understand and apply in business.
The main goal of STP Marketing is to attract the customer and not only to attract the customer
but also getting the right customer who will be interested in our product.
Segmentation:
The process of splitting a market into smaller groups with similar product needs or identifiable
characteristics, for the purpose of selecting appropriate target markets. (Demographic (AGE),
Geographic
Targeting:
An organization’s proactive selection of a suitable market segment (or segments) with the
intention of heavily focusing the firm’s marketing offers and activities towards this group of
related consumers.
Positioning:
Positioning is the target market’s perception of the product’s key benefits and features, relative
to the offerings of competitive products.
The customer buying process (also called a buying decision process) describes the journey your
customer goes through before they buy your product. Understanding your customer’s buying
process is not only very important for your salespeople, it will also enable you to align your sales
strategy accordingly.
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Fig 1.Consumer buying process
1. Need or Problem Recognition
During need or problem recognition, the consumer recognizes a problem or need that could be
satisfied by a product or service in the market. Problem Recognition is the first stage of the buyer
decision process. At this stage, the consumer recognizes a need or problem. The buyer feels a
difference between his or her actual state and some desired state.
This could be a simple as “I’m hungry, I need food.”
2. Information Search
Once the need is recognized, the consumer is aroused to seek more information and moves into
the information search stage. The second stage of the purchasing process is searching for
information. After the recognition of needs, the consumers try to find goods for satisfying such
needs. They search for information about the goods they want. Consumers can get information
about goods from different sources.
Commercial source: This includes advertising, salespeople, dealers, packaging, display, etc.
Public sources: This includes mass media, consumer rating organizations, etc. they also become
confidential to provide information.
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Experimental sources: This includes handling, examining, using, etc. Such information
becomes decisive and confidential.
3. Evaluation of Alternatives
With the information in hand, the consumer proceeds to alternative evaluation, during which the
information is used to evaluate” brands in the choice set. Evaluation of alternatives is the third
stage of the buying process. Various points of information collected from different sources are
used in evaluating different alternatives and their attractiveness. While evaluating goods and
services, different consumers use different bases. Generally, the consumers evaluate the
alternatives on the basis of attributes of the product, the degree of importance, belief in the
brand, satisfaction, etc. to choose correctly.
4. Purchase Decision
After the alternatives have been evaluated, consumers decide to purchase products and services.
They decide to buy the best brand. But their decision is influenced by others’ attitudes and
situational factors.
5. Post-Purchase Evaluation
In the final stage of the buyer decision process, post purchase behavior, the consumer takes
action based on satisfaction or dissatisfaction. In this stage, the consumer determines if they are
satisfied or dissatisfied with the purchasing outcome. Here is where cognitive dissonance occurs,
“Did I make the right decision.”Consumers go through the 5 stages of the buyer decision process
in deciding to purchase any goods or services.
Sales:
A sale is a transaction between two or more parties in which the buyer receives tangible or
intangible goods, services, or assets in exchange for money. In some cases, other assets are paid
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to a seller. In the financial markets, a sale can also refer to an agreement that a buyer and seller
make regarding the price of a security.
Cold Calling:
Cold calling is the solicitation of business from potential customers who have had no prior
contact with the salesperson conducting the call. It is an attempt to convince potential customers
to purchase either the salesperson's product or service. Generally, it is referred as an over-the-
phone process, making it a source of telemarketing, but can also be done in-person by door-to-
door salespeople. Though cold calling can be used as a legitimate business tool, scammers can
use cold calling as well
“A more tangible plan with concrete steps are required to significantly upgrade India’s education
system. Accelerated thinking and execution is a necessity to make education more advanced and
personalized,” Zishaan Hayath, founder of edtech startup Toppr, told Inc42 in a recent
interaction. As per DataLabs By Inc42 analysis, India is home to over 4,450 edtech startups.The
likes of BYJU’S, Toppr, Vedantu and Unacademy have been quite popular in India.Global
brands like LinkedIn Learning, Coursera, Udemy are also popular in the Indian market
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Fig2.Screenshot of company website
Company’s Vision:
“The Companies vision is to provide financial literacy to everyone whom we come across”
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What exactly does the company offer?
Training in financial services domain, online courses, and student internships.
7 Days course (continuous & without a break)
Course completion Certificate Upon finishing the course(no exam)
1Hour live teaching followed by 1hour doubts clearing session daily(to ensure individual
attention)
Study Material is given absolutely free of cost
Missed a live session? Nothing to worry - They have frequent repeat classes.
Every classroom session of the course is unique, fresh and LIVE.
Chance to attend same classes unlimited times whenever they're conducted.
These are some of the aspects of the company that it claims make it different from similar
players in the market:
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A passionate educator and lecturer, he has worked on international platforms, catering to
audiences in India, Middle East, U.K, and the U.S. He started Shine Projects in 2017(Jan) with
the mission of providing sound financial literacy and awareness to everyone. He strives to make
his modules affordable and easily accessible for all. His in depth knowledge and drive, coupled
with ability to think on his feet and innovate has today turned his passion project into India’s
fastest growing education company.
One of the strongest pillars of his initiative has been his ability to connect and interact with his
students with absolute ease and comfort. It is due to his vast experience in taking offline &
online courses, that he can ensure all his classes are highly interactive, which enables him to
make even the most complicated of concepts, easily understandable to everyone.
In addition to being an educator, he has also written extensively on financial markets, even
providing his insights and inputs to many acclaimed academic journals and papers, and is also an
active guest speaker. Since equal access to education is a an issue that is absolutely close to his
heart, apart from training students and interns, he also volunteers at Make a Difference to teach
English to the underprivileged.
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1.4 Company’s Competitor profile:
A SWOT analysis is an incredibly simple, yet powerful tool to help you develop your business
strategy, whether you’re building a startup or guiding an existing company.
Strengths and weaknesses are internal to your company—things that you have some control over
and can change. Examples include who is on your team, your patents and intellectual property,
and your location.
Opportunities and threats are external—things that are going on outside your company, in the
larger market. You can take advantage of opportunities and protect against threats, but you can’t
change them. Examples include competitors, prices of raw materials, and customer shopping
trends.
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Strengths Weaknesses
LIVE sessions The number of enrollment in other
Unlimited access to customers countries is lower
Doubts will be cleared individually after No diversification in products
the LIVE session No regional language
Opportunities Threats
Courses useful for all the age category Data Privacy
Growing digitalization in India Competitors Pressure
Transform the ways of working of the High cost for doing the LIVE sessions
industry
A PEST analysis is useful for any organization that needs to gauge current and future markets.
The significance of each area in PEST Analysis will vary for different industry sectors. For
example, there is likely to be a different emphasis on the technology element for IT organizations
compared with those involved in health, tourism, mining, defense, and banking.
Political Economic
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Importance of education and financial literacy Cost of resource such as books
can be increased and papers
Intellectual property protection
Social Technological
Lot of experienced faculties are there India has more opportunities in
digital society
KRA, or Key Responsibility Areas, are based on the job description of a person and are used
when assigning tasks that they are expected to perform. Employees are solely responsible for the
specific KRAs assigned to them. KRAs are a larger goal. For example, as a content writer, your
KRA would be to produce content that performs and ranks well.
Fig 4. KRA
Apply business concepts and theories to real-world decision-making
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Increase proficiency in specific business disciplines; such as human resources
management, operations management, marketing, accounting, statistics, economics,
finance, and business law.
Develop and improve business skills in communication, technology, quantitative
reasoning, and teamwork.
Observe and participate in business operations and decision-making.
Meet professional role models and potential mentors who can provide guidance,
feedback, and support.
Expand network of professional relationships and contacts.
Develop a solid work ethic and professional demeanor, as well as a commitment to
ethical conduct and social responsibility.
4.1 WEEK 1:
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Product Knowledge:
Product knowledge is an essential sales skill. Understanding your products' features allows you
to present their benefits accurately and persuasively. Customers respond to enthusiastic sales
staff who are passionate about their products and eager to share the benefits with them. Why
product knowledge is imperative for sales success.
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STP:
Segmentation:
The process of splitting a market into smaller groups with similar product needs or identifiable
characteristics, for the purpose of selecting appropriate target markets. (Demographic (AGE),
Geographic (TAMIL NADU).
Targeting:
An organization’s proactive selection of a suitable market segment (or segments) with the
intention of heavily focusing the firm’s marketing offers and activities towards this group of
related consumers. (College Students, Professionals)
Positioning:
Positioning is the target market’s perception of the product’s key benefits and features, relative
to the offerings of competitive products.(LIVE Courses & Unlimited LIVE access)
Sales Pitch:
Usually the first sentence of a sales pitch is supposed to be either an attention-grabbing statement
or a positive statement introducing the best information about the provider of goods or service. A
method is usually selected depending on available attention span from the prospective client.
There are certain groups with a lower attention span (for example children) for whom a sales
pitch must capture their attention within the first few seconds to be effective. Frequently used
methods for this are beginning a talk with a surprising or even shocking statement which the
targets then stay to see the conclusion of.
Normally people with children, shopkeepers, and people in a hurry are not able to give much
attention especially if the explanation is not immediately intriguing or it is in broken English.
Sellers of low-value, fast-moving consumer goods (FMCG) are usually known to deploy the first
method.
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In the second strategy, 'positive statement begins' is adopted in solution selling usually in direct
selling to corporate and or high value and or capital goods selling. Here, the purpose of the
positive statement is to emphasize a particular positive aspect of a provider to brand it according
to seller's situational need.
In my case: Sir I’m Vivekanandan, I am calling from shine projects You had inquired about the
financial market course on our website…
4.2 WEEK 2:
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Consumer Behavior Analysis:
Customer behavior refers to an individual's buying habits, including social trends, frequency
patterns, and background factors influencing their decision to buy something. Businesses study
customer behavior to understand their target audience and create more-enticing products and
service offers.
A customer behavior analysis provides insight into the different variables that influence an
audience. It gives you an idea of the motives, priorities, and decision-making methods being
considered during the customer's journey. This analysis helps you understand how customers feel
about of your company, as well as if that perception aligns with their core values.
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1. Personal factors: an individual’s interests and opinions that can be influenced by
demographics (age, gender, culture, etc.).
3. Social factors: family, friends, education level, social media, income, they all influence
consumers’ behavior.
Engagement:
On Facebook alone, engagement often means all possible ways of interacting with a Page’s posts
and profile, messages and mentions all added together. When looking at engagement numbers
between months or even years, this birds’ eye
view is great at identifying a trend. But you
want the other metrics if you want to
understand more of where you can improve.
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Interaction in direct messaging: messaging a Page or responding to a message
Interaction with other Pages: mentions of your Page, commenting on other Pages’ posts
Tapping into post-purchase engagement doesn’t necessarily mean asking customers to buy from
you again—at least, not immediately. Consider using your email marketing to collect customer
reviews, either on the products themselves or on the customer care experience.
Along with pulling qualitative feedback in the form of reviews, you can also engage customers in
questionnaires and surveys to get quantitative data. This information can be used internally to
improve your customer service and overall operations Your survey email doesn’t need to be
complex. See how Expedia reaches out to its customers in the template below.
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Up selling:
Fig12. Up selling
Up selling helps retailers build deeper relationships with customers: Up selling is not
a dirty tactic if you put it into perspective. If it focuses on helping your customers ‘win’
by suggesting premiums, upgrades or add-ons that will eventually deliver more value and
make them feel like they got the better deal, it will turn out to be a customer happiness
tactic that also generates additional revenues.
Customers come back for more: Up selling is unique in the way it adds value to
customers that makes them want to come back for more. By creating an easy way to
make life straightforward for customers you are ensuring that they will return in the
future if they need more of what you are selling. Be sure to offer great customer service
along with your up selling efforts to guarantee happy customers no matter what happens.
Up selling leads to increased Customer Lifetime Value (CLV): Customer Lifetime
Value is the net profit contribution a customer makes to your company over time. You
can split your customers into three main categories: not profitable, profitable and very
profitable. Higher CLV means each customer generates more revenue for your business
without you having to invest anything extra, which also means your company has more
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money to spend on acquiring new customers. Upselling is one of the most effective ways
to turn shoppers into very profitable customers and keep them coming back.
SEO (Search engine optimization) : SEO stands for “search engine optimization.”
In simple terms, it means the process of improving your site to increase its
visibility for relevant searches. The better visibility your pages have in search
results, the more likely you are to garner attention and attract prospective and
existing customers to your business.
Email marketing: Email marketing is the act of sending a commercial message,
typically to a group of people, using email. In its broadest sense, every email sent
to a potential or current customer could be considered email marketing. It
involves using email to send advertisements, request business, or solicit sales or
donations. Email marketing strategies commonly seek to achieve one or more of
three primary objectives, to build loyalty, trust, or brand awareness. The term
usually refers to sending email messages with the purpose of enhancing a
merchant's relationship with current or previous customers, encouraging customer
loyalty and repeat business, acquiring new customers or convincing current
customers to purchase something immediately, and sharing third-party ads.
Social media marketing: Social media marketing is a powerful way for businesses
of all sizes to reach prospects and customers. Your customers are already
interacting with brands through social media, and if you're not speaking directly
to your audience through social platforms like Facebook, Twitter, Instagram, and
Pinterest, you're missing out! Great marketing on social media can bring
remarkable success to your business, creating devoted brand advocates and even
driving leads and sales.
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Fig 12. Social Media Marketing
4.3 WEEK 3
Your customers will know when you're giving a spiel simply to sell them something and when
you're genuinely excited about what you're offering.
The best direct sales reps use and love the products they're selling. They talk about them with
enthusiasm, which is what helps sell them.
Using your products and services also gives you personal experiences and information so you
can discuss them honestly and accurately with potential customers.
Be Persistent
You may have heard direct salespeople describe the job something like this: “Help five people
get eight people, and you’ll get a free car.
That's not exactly how it works. What they don’t tell you is that you’ll need to talk to at least 50
people to get the five people, and help them talk to at least 80 people each to get their eight.
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While these numbers aren't exact, the point is, that you'll receive a lot of "nos" in your quest to
find your "yeses," which can be discouraging. But frustration is a part of running a successful
home business. The key is to be persistent and keep going after you get a "no."
Read and understand your company’s marketing and compensation plan, as well as any policies
or procedures.
Buying into a business opportunity means there may be rules and restrictions you need to abide
by. For example, some companies forbid you from using their name in your marketing. Others
don't allow you to set up your own consultant website.
Further, to maximize your income, you need to know the best way to make money. Which
products are the most popular and earn you the most income? How can you earn bonuses?
The better you understand the terms by which you can run your business, as well as how you get
paid, the better you can make more income.
Determine the best buyers for your products, services, and business plan.
Most direct sales companies start new reps by having them make a list of 100 people they know.
While you might find your new customers and business partners in this list, this method isn't the
most efficient way to get started.
In all other business models, you identify the best buyers for your products and focus on them.
Identifying your target market means you don't waste time trying to sell to people who don't
want what you're offering. You can't sell products to people who don't want or need them.
Further, in direct sales, there is a tendency to focus on targeting people who want to make
money. That’s not necessarily bad, but you’re better off focusing on people who want to make
money and would like your products and services. As mentioned above, people are more likely
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to be successful in selling something they can get behind. In fact, many people who start a
business in direct sales were customers first, and they liked the products so much that they
decided to sell them.
Determine how your market can benefit from your products, services, and business plan. Will
your customers gain energy, cook better, or feel more confident?
Reframe all the great features of your product and business into benefits. If your products are
non-toxic, what does that mean? Fewer asthma spells? Less allergies?
4.4 WEEK 4:
Objectives Accomplished:
Digitally Managing. digitally prospecting, rapport building, objection handling, and
relationship management
Preparing marketing and advertising strategies, plans, and objectives; planning and
organizing promotional presentations (in a digital way)
Preparing marketing reports by collecting, analyzing, and summarizing sales data
Collecting feedback from the clients and updating it on the website
Engagement post purchase
Liasoning with different stakeholders to ensure business continuity
Converted potential leads to customers
Receiving and processing purchase orders.
Issued sales transaction invoices.
Verifying orders, including customers' personal information and payment details.
Maintaining and updating sales and customer records.
Directing feedback from customers to relevant departments.
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Identifying new products to add to those on offer.
Develop monthly sales reports
Organized client contact lists, scheduled, performed and updated contacts made in CRM.
Achieved targeted goals and objectives for business development and sales.
Completed other projects and tasks as assigned.
Initiated cold calls targeting non-existing accounts.
Number of leads collected : 60
Number of converted leads : 11
Conversion Percentage : 18%
Chapter 5. Challenges:
Getting a response from prospects: Sales reps today agree that the most common
challenge they face, as compared with 2 – 3 years ago, is getting a response from
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prospects. Despite all the devices that we have on hand, and all the communication
technology available at our fingertips, people today are less responsive than ever before.
This may be due to a proliferation of channels or simply, communication overload. Sales
reps need to distinguish their voices from the crowd and become trusted consultants that
their customers can rely on.
Asking The Right Questions: Asking prospects the right questions is the best way to
understand their wants, needs, and pain points. While you might be tempted to make a
pitch right away, don’t. Rushing the process won’t get you far. Instead, ask insightful
questions to determine whether you can help your prospects and in what ways.
Connecting via the phone: Our mobile devices have become an integral part of our daily
lives, so how is it that salespeople are finding it more and more difficult to reach people
on the phone? It is true that with so many means of communicating, often people prefer
to email or text over having a conversation on the phone. People’s busy schedules also
make them more difficult to reach. Salespeople can consider alternative means to
communicating which don’t require two people to be available at the same time. But I
still think talking on the phone is critical in the sales process. So much is said in between
the purpose of a call. So many little cues that can enhance you deal probabilities.
Chapter 6 Learning:
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Marketing & Promotions: Promotion is a type of communication between the buyer
and the seller. The seller tries to persuade the buyer to purchase their goods or services
through promotions. It helps in making the people aware of a product, service or a
company. It also helps to improve the public image of a company. This method of
marketing may also create interest in the minds of buyers and can also generate loyal
customers.
It is one of the basic elements of the market mix, which includes the four P’s: price,
product, promotion, and place. It is also one of the elements in the promotional mix or
promotional mix or promotional plan. These are personal selling, advertising, sales
promotion, direct marketing publicity and may also include event marketing, exhibitions,
and trade shows.
Cold calling & Objection handling: Objection handling means responding to the buyer
in a way that changes their mind or alleviate their concerns.Some reps argue with their
prospects or try to pressure them into backing down — but this isn’t true objection
handling. Prospects typically end up more convinced than ever of their position; worse,
salespeople lose the trust and rapport they’ve built up. Instead of telling your prospect
they’re wrong, help them come to a different conclusion of their own accord. And if you
can’t persuade them, that’s a good sign they’re a poor fit.
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Conversion of leads to customers: When it comes to the lead conversion process, this
term encompasses the various actions you take with a prospect or lead: calling them back
after their first contact with you, classifying them as a lead when applicable, and sending
lead nurturing emails to them. It also references whether or not your staff follows up and
engages with a prospect or lead. Engagement with leads is a critical part of the lead
conversion process, and poor lead engagement can result in losing a lead to a competitor
who is more engaged and timely in their response.
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In pursuit of knowledge gathering at economical rates and seeking flexible timings, students and
working professionals are increasingly keen to join one to one tutoring to ease their life schedule
and get a better learning experience. With the advent of digitized platforms, the education
systems also continue to evolve and students doing courses online is the trend buzzing around.
Before seeing the profits, do a close cross-check about the industry errors, competitors and their
offerings, targeted regions, contractual restrictions, user-friendly panels and a lot more. This
survey is necessary to avoid hassles that may occur at a later point. Find solutions to all these
points before giving a start. Increase your reputation in the market through social media,
blueprints, commercial ads, etc. as to let people know about your brand.
Be it social media channels or finding out the best and experienced squad for your business, plan
a substantial marketing strategy with the help of digital marketing platform that brings profits.
Streamline your business strategy and earn recognition.
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To provide e-Learning solutions, you must recognize your audience and allow the users to study
online at flexible timings.
For instance, if a working professional needs to upgrade their skill set and want to join the online
courses, so due to the unavailability of timings in the daytime, they will seek flexible class time
slots either late at night or during weekends. Hence, the platform should work 24*7 and teachers
must be available who can provide classes with convenience and flexibility to their users.
Such as different login panels for admins, teachers, and learners. Make sure every single person
within these categories have their log in details with respective rights and authority to act on the
site.
The online education industry has become one of the largest growing businesses across the
globe. Starting your website does not include major hiccups and brings the best of the results
with a long-term vision.
A sales report, or sales analysis report, gives an overview of the state of the sales activities
within a company. It shows the different trends happening in the sales volume over a certain
time, but also analyzes the different steps of the sales funnel and the performance of sales
executives.
They give a snapshot of the company’s exercise at a specific moment in time to assess the
situation and determine the best decision to make and the type of action to undertake.
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A daily sales report is a management tool used by businesses, sales reps, and managers in order
to extract the most relevant daily sales data such as the number of closed deals, client
conversations, opportunities created, and many other sales-related KPIs.
When it comes to daily reports, you don’t want to get too focused on outcome dependent metrics.
Instead, you want to focus more on process metrics.
An outcome metric is something like revenue earned which the sales rep can’t directly control. A
process metric is something the sales rep can directly control, like how many calls they’ve made,
emails they’ve sent, or meetings they’ve set up.
On a daily basis, the reps are simply going to have some bad days and some good days due to
reasons beyond their control. So, seeing that a rep has one low earning day, and then calling
them to the office, would be a little premature, and arguably an example of micromanagement.
A week is arguably the perfect unit of time to measure individual sales rep performance. A
month is often too long of a time frame, leading you to miss out on course correction
opportunities until after the fact. And a single day is often too short to see any real, meaningful
outcome dependent information. Of course, the perfect time to measure sales rep performance
depends on your business model, too.
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Chapter 9. Conclusion
In great esteem and with indebt gratitude I wish to thank Shine Projects joint MD, Shri
Harsha for giving me the opportunity to work for his company.Through this internship I
got to know many new things like how to do marketing and promotions, how to reach
rural markets, how to find out potential customers and where to find potential customers
and etc
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Chapter 10. References
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