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INTRODUCTION TO BROKERAGE INDUSTRY
Globalization has proved to be a boon for the Indian economy. After globalization there has been a tremendous growth in the Indian economy. Every sector of the economy has shown an outstanding performance after globalization. Earlier Trading was confined in limited boundaries but now the scenario has been totally different after the entrance of online trading. There is a cut throat competition between the broking houses. Now the brokers are more concerned about their customers to improve their performance. The sector is undergoing fundamental changes that have diluted its traditional role of protecting small deposits against capital and income risk and facilitating the conversion of Savings into investment. Also there have been a drastic increase in the volume of share traded on stock exchange and with that the online trading has shown Bull Run. The Indian Brokerage Industry consists of companies that primarily act as agents for the buying and selling of securities (e.g. stocks, shares, and similar financial instruments) on a commission or transaction fee basis. Hence, to understand this industry we have to study Security Market: Security market has two main interdependent segments: Primary market and the Secondary market.
1.1 Primary Market
The primary is that part of the capital markets that deals with the issuance of new securities. Companies, governments or public sector institutions can obtain funding through the sale of a new stock or bond issue. This is typically done through a syndicate of securities dealers. The process of selling new issues to investors is called underwriting. In the case of a new stock issue,
this sale is an initial public offering (IPO). Dealers earn a commission that is built into the price of the security offering, though it can be found in the prospectus. In primary market certain companies issue their shares directly to the public, collect applications and after sorting out the good issues, they put in their applications. The share brokers get their brokerage on the transactions made.
1.2 Secondary Market
The secondary market is that market in which trading is done of securities that have already been issued in an initial private or public offering. The secondary market comprises of brokerage that a broker earns in the buying and selling of companies that are listed in the stock exchange. These stock brokers are in charge of the conformation and carrying out of transactions. Orders are taken and executed on behalf of the clients. The fluctuation of rates in the share market makes the activity in a trade market a dynamic process. It is necessary for a broker to have adequate knowledge about the economic and political factors as they affect the share market.
1.3Evolution of the Indian Brokerage Market
The Indian broking industry is one of the oldest trading industries that had been around even before the establishment of the BSE in 1875. Despite passing through a number of changes in the post liberalization period, the industry has found its way towards sustainable growth. The evolution of the brokerage market is explained in three phases: pre1990, 1990-2000, post 2000.
The equity brokerage industry in India is one of the oldest in the Asia region. India had an active stock market for about 150 years that played a significant role in developing risk markets as also promoting enterprise and supporting the growth of industry. The roots of a stock market in India began in the 1860s during the American Civil War that led to a sudden surge in the demand for cotton from India resulting in setting up of a number of joint stock companies that issued securities to raise finance. This trend was akin to the rapid growth of
securities markets in Europe and the North America in the background of expansion of railroads and exploration of natural resources and land development. Bombay, at that time, was a major financial centre having housed 31 banks, 20 insurance companies and 62 joint stock companies. In the aftermath of the crash, banks, on whose building steps share brokers used to gather to seek stock tips and share news, disallowed them to gather there, thus forcing them to find a place of their own, which later turned into the Dalal Street. A group of about 300 brokers formed the stock exchange in Jul 1875, which led to the formation of a trust in 1887 known as the “Native Share and Stock Brokers Association”. A unique feature of the stock market development in India was that that it was entirely driven by local enterprise, unlike the banks which during the pre-independence period were owned and run by the British. Following the establishment of the first stock exchange in Mumbai, other stock exchanges came into being in major cities in India, namely Ahmedabad (1894), Calcutta (1908), Madras (1937), Uttar Pradesh and Nagpur (1940) and Hyderabad (1944). The stock markets gained from surge and boom in several industries such as jute (1870s), tea (1880s and 1890s), coal (1904 and 1908) etc, at different points of time.
1.4 DEVELOPMENT IN BROKERAGE INDUSTRY
In actuality the brokerage industry continues to develop rapidly. Many of the traditional restrictions against banking activities within the brokerage industry are being eliminated and the barriers are disappearing. Due to this, some commercial banks have as subsidiaries, brokerage houses that offer discounts and some of them have available accounts that offer all of the services that are offered by a checking account. The basic function of a brokerage firm is to execute buy and sell orders for clients. Traditionally these firms have offered the investigation of the quality and the possibilities of investing in a variety of investment products. It is still accustomed for brokerage firms to offer information about possible investments free of charge. This activity of bringing free of charge stock investment reports is one of the main tools that are utilized by brokerage houses to compete against other firms and to investors it continues to be an important service.
Despite the previously. In the year 2007 IPOs of large firms (Motilal Oswal.5 Industry Insight • Majority of the broking firms entered the business post 1990. and Edelweiss) received huge response (Indian catalog. Full service brokers are sellers looking for purchasing and selling for clients and offering more customer service than is available from discount brokers. In India there are about 45 equity brokerage houses that are at present listed in the stock exchanges. not all investors consider that investment reports is an important service. brokerage firms may be classified into full service brokers and discount brokers. In actuality. 2001). It is evident that these differences may be an important factor in the return of an investment. It is many times possible that a client will not even know who is taking care of the buy or sell order that they placed. equity derivatives and commodities futures in domestic and International stock exchange. the brokerage industry has segmented itself. In order to capture this vast diverse clientele. This is particularly true when we see that these commissions are added to the purchase as well as to the sale of a stock or other investments. A majority of members have memberships in more than one stock exchange and across equities. After the restrictions in commissions were eliminated. Full service brokerage firms continue to offer informative stock reports and a level of service much higher than other brokerage houses. These developments have resulted in huge spurt in business and also growing market share of the large sized brokerage houses has led to surge in enterprise value. Some investors prefer other types of services since many investors don’t believe that these investment reports are useful. These differences in services and philosophies may lead to great differences in commission costs. At the same time global and private equity firms have taken stake in brokerage firms. Discount brokerage houses only dedicate themselves to execute orders for clients. At present apart of brokerage business industry is also offering wide range of financial services. 4 . several brokerages began to open up their doors as discount brokerage firms. Religare. Post major reforms initiative in early 2000s brokerage industry in India is experiencing rapid growth and diversity. 1.
Access to public equity markets and growing international investor’s interest has enabled them to raise resources. Although there are more than 9000 brokers registered with SEBI 80% of the turnover in NSE and BSE is accounted by about 100 brokers. 1.• On the back of growing equity culture broking activity is spreading in Tier II and Tier III cities in India.6 Main players in the brokerage industry are: • • • • • • • • • • • India Infoline ICICI Direct Angel Broking Geojit HDFC Securities Kotak Securities Relaince Money Religare Share Khan SBI Demat Motilal Oswal Anand Rati Citi Bank Demat • • 5 . • Deepening financial system and economic growth has provided growth and expansion opportunities to broking firms.
• • Karvy securities HSBC Invest Direct 6 .
Africa. REL’s largest market. At the time of incorporation. 2006.000 plus employees across multiple geographies. with a presence across Asia. 2006. Middle East. by the Registrar of Companies. 2. NCT at New Delhi. The fresh certificate of incorporation consequent to the change of name was granted to the Company on August 11. the main object of the Company was to purchase. 1984.1Historical Background Of The Group The Company was originally incorporated as Vajreshwari Cosmetics Private Limited on January 30. by the Registrar of Companies. 2006. The status of the Company was changed to a public limited company by a special resolution of the members dated July 14. and retail investors. Europe and the Americas. replace or otherwise deal in all types of tooth paste.manufacture. REL serves over a million clients. asset management. Himachal Pradesh & Chandigarh at Jalandhar. face powder. the group offers a wide array of products and services ranging from insurance.tooth brush. export. Punjab. 2006. broking and lending solutions to investment banking and wealth management. The group has also pioneered the concept of investments in alternative asset classes such as arts and films . sell.With 10.pack.CHAPTER 2 RELIGARE ENTERPRISE LIMITED Religare Enterprises Limited (REL) is a global financial services group promoted by the RANBAXY group . 7 . face cream and other cosmetics. The name of Company was subsequently changed to Religare Enterprises Private Limited pursuant to a special resolution of the shareholders dated January 10. import. In India. The fresh certificate of incorporation consequent to the change of name was granted to the Company on January 31. including corporates and institutions. high net worth families and individuals.
(Now Religare Hichens. 2. For Religare. Of new possibilities.2 Vision & Mission 2. Hichens.Religare has a pan India presence. Good Fortune.Core brand essence is Diligence and Religare is driven by ethical and dynamic processes for wealth creation. Care. 2.2Symbol The Religare name is paired with the symbol of a four-leaf clover. For the world. The aspirations to succeed. The ability to place one’s own faith in another.2 Mission . it is the symbol of Religare. 2.To build Religare as a globally trusted brand in the financial services domain. The dream of becoming. 1837* locations across 498* cities and towns.2. To have a relationship as partners in a team.2.3. It is a symbol of Hope. The first leaf of the clover represents Hope. It also currently operates from nine international locations following its acquisition of London's brokerage & investment firm.3 Brand Essence . Trust. 2.2.1 Name Religare is a Latin word that translates as 'to bind together'. Harrison Plc).3Now What Does RELIGARE Mean? 2. Traditionally. This name has been chosen to reflect the integrated nature of the financial services the company offers.1 Vision .Providing complete financial care driven by the core values of diligence and transparency. It is the beginning of every step and the foundation on which a person reaches for the stars. 2. The second leaf of the clover represents Trust. it is considered good fortune to find a four-leaf clover as there is only one four-leaf clover for every 10.000 three-leaf clovers found.3. each leaf of the clover has a special meaning. To accomplish a given goal with the balance that 8 . plc. Harrison & Co.
2001 RFL received registration as ‘non-banking financial institution not accepting public deposits with RBI. four-leaf clover to visually symbolize the values that bind together and form the core of the Religare vision. 2000 RSL received membership of the Futures and Options segment of the NSE. 2. Good Fortune.4.brings satisfaction to all. The fourth and final leaf of the clover represents Good Fortune. 9 .RSL received registration as ‘Depository Participant’ with NSDL. 2004 RSL received membership of the BSE as ‘stock broker.4 Key Events and Milestones 2. . -RCL received membership of MCX as ‘trading-cum-clearing member.1 Year Events 1994 RSL received membership of the NSE as ‘stock broker. The third leaf of the clover represents Care. 2002 RSL received registration as ‘Portfolio Manager’ from SEBI. 2003 RSL received registration as ‘Depository Participant’ with CDSL. From it springs true warmth of service and the ability to adapt to evolving environments with consideration to all. but in the bond that is built. The truth of feeling that underlines sincerity and the triumph of diligence in every aspect. not in the binding. Trust. All elements perfectly combine in the emblematic and rare. The secret ingredient that is the cement in every relationship. Signifying that rare ability to meld opportunity and planning with circumstance to generate those often looked for remunerative moments of success. Care. Hope.
N.V.Macquarie Joint Venture for Wealth Management. 2007 RSL received membership of derivative segment of the BSE as trading-cumclearing member. 10 . . -RIBL received licence from IRDA to act as ‘composite broker’. -Religare Enterprises gets SEBI nod for LOTUS acquisition. a well known Public Sector Bank in the country. and Andhra Bank.-RCL received membership of NCDEX as ‘trading-cum-clearing. for carrying on the business of mutual fund asset management. a diversified financial services company. -Religare and Swiss Re join hands to enter India health insurance space. 2009 Religare. -RSL received registration as ‘Merchant Banker in Category . Member. 2008 Religare to acquire UK brokerage Hichens -Religare strengthens its Bancinvest Channel Adds Karur Vysya Bank to its kitty.I from SEBI. -Religare Enterprises to enter the capital market. -Joint venture agreement with Aegon International . has received the final regulatory approval from the Securities and Exchange Board of India (SEBI) to launch mutual fund business in the country. -Religare AEGON Asset Management Company Private Limited. have entered into a strategic tie-up offering Religare's internet trading services platform to the Bank's customers. -Religare . 2005 RFL received enrollment as ‘AMFI registered mutual fund advisor 2006 Establishment of representative office in London. a joint venture between Religare and AEGON. -RCL received membership of NMCE.
5Organization Structure: 2.6 Central Leadership Team 11 .-Religare launches CSR Initiative 2.
He holds a B. Religare Macquarie Wealth Management Limited. Religare Voyages Limited. Table Tennis and Golf. Shachindra Nath Group CEO. strategizing and directing it through its next phase of growth. Sunil completed his schooling from prestigious St. he is the inspiration to all as he spearheads the company’s management and global operations. A man with a vision to create a global business of excellence. AEGON Religare Life Insurance Company Limited. Religare Enterprises Limited Mr. Degree in Chemical Engineering and a M. Religare Enterprises Limited 12 . Fortis Healthcare Limited and other subsidiaries/ Group companies of Religare. Sunil has a diverse and wide-ranging experience of over two decades in managing large scale businesses. Mr. Columbas School post which he went abroad for studying. He loves Chinese food and is an avid sports enthusiast with interest in Cricket. Super Religare Laboratories Limited. in Industrial Engineering & Finance from Polytechnic Institute of New York. Sc. he also serves as Director on the Boards of Religare Technova Limited. is the driving force behind the company. Parkway Holdings. Religare Enterprises Limited. Sunil Godhwani Chairman and Managing Director. Chairman and Managing Director. Sunil Godhwani. Mr.Sc. Born in New Delhi.
W. Sunil Godhwani Chairman and Managing Director Mr Shachindra Nath Group CEO Mr. Harpal Singh Non Executive Director Mr. Padam Bahl Independent Director Mr. Mr. Kathryn Matthews Independent Director Mr. Anil Saxena Group CFO Mr. J. Religare Enterprises Limited 2. Anil Saxena Group CFO. Sunita Naidoo Independent Director 13 . Balani Independent Director Ms.7 Board of Directors .Religare Enterprises Limited Mr. Deepak Ramchand Sabnani Independent Director Ms.
4. G. J. Mr. S. District Centre.India PinCode :201301 Phone :0120-3391000. Bhalla Alternate to Mr.. Sec 125 Noida . Balani Capt. Uttar Pradesh . Delhi . GYS Global.9 Religare Global Presence New York San Francisco Brazil United Kingdom Dubai Qatar Singapore 14 .. P.. Deepak Sabnani 2. 1 Location Type Registered Office Address D3. P3B. W. Saket New Delhi . R. Fax :011-39126505.India PinCode :110017 Phone :011-39125000. K. No. Shetty Alternate to Mr. 2.5.. 2 Corporate Office A3.8 Addresses S. Stuart D Pearce Independent Director Mr.
Malayasia Singapore Hong Kong Tokyo 2.10 Following are the companies Under Religare Enterprise Limited 15 .
CHAPTER 3 Religare Securities Limited 16 .
Parvinder Singh (CMD Ranbaxy Laboratories Limited). The growing list of financial institutions with which Religare is empanelled as an approved broker is a reflection of the high levels of service standard maintained by the company. Depository Participant with National Securities Depository Limited and Central Depository Services (I) Limited. a Ranbaxy Promoter Group Company. the company offers an online investment portal armed with a host of revolutionary features.Religare Securities Limited (RSL). portfolio management services. advisory on mutual fund investments and many more. which not only caters to the need of our Institutional clientele. Bombay Stock Exchange of India. • Religare has a very credible Research and Analysis division. The major activities and offerings of the company today are Equity Broking. Religare Securities Limited. was founded by late Dr. Working on the philosophy of being “Financial Care Partner”. To realize its vision the Religare group provides various financial services which include broking (stocks & commodities). a 100% subsidiary of Religare Enterprises Limited is a leading equity and securities firm in India. Depository Participant Services and Research Services. it currently holds a reasonable share of the market. with the vision of providing integrated financial care driven by the relationship of trust & confidence. but also gives their valuable inputs to investment dealers. • Religare has been constantly innovating in terms of product and services and to offer such incisive services to specific user segments it has also started the NRI. • RSL is a member of the National Stock Exchange of India. FII. Religare unlike other traditional broking firms not only executes the trades for the clients but also provides them critical and timely investment advice. To broaden the gamut of services offered to its investors. Religare has the widest 17 . HNI and Corporate Servicing groups. These groups take all the portfolio investment decisions depending upon a client's risk / return parameter. Religare is a truly professional financial service provider managed by a team of highly skilled professionals who have proven track record in their respective domains. depository participant services. The company currently handles sizeable volumes traded on NSE and in the realm of online trading and investments.
Part – B Research Project 18 .
France. Many firms therefore want to make use of this relationship and have instituted customer loyalty programs . 19 . Program Managers etc. Grocery stores have a special discount for loyalty cardholders etc.aimed at rewarding loyal customers. and even more number of companies is planning to do the same. For example. credit card firms have points program. Customers have different needs and expectations during different stages of this relationship. Why do customers have a relationship with the vendor? Every salesman knows that customer often wishes to have a relationship with the vendor. Account managers. While the concepts of CRM and Customer Lifetime value are well established and understood by managers. The challenge of managing customer relationships led to a new concept called Levels of Customer Relationships developed by INSEAD. managers are finding it hard to manage customer relationships. Customer relationship is a dynamic process and can move from one stage to another based on customer's aspirations and customer's buying experience • • .com etc. managing customer relationships has become a challenge for many managers. The central theme of this concept is: • Customer relationship is an evolutionary process that can be identified as 6 distinct stages.CHAPTER 1 INTRODUCTION TO PROJECT 1.given the importance of customer lifetime value. Few firms have even created offices of customer relationship management: Client partners. salesforce. Managers today are working hard to build and maintain a relationship with the customer . In spite of all these efforts.) for customer relationship management. Several firms have implemented dedicated software tools (Seibel. Airlines have free miles program.1 CUSTOMER RELATIONSHIP MANAGEMENT Customer Relationship Management (CRM) is a well-known business concept.
In short.Looking from the customer's perspective. the customer is willing to establish a deep relationship with the vendor by having a development & maintenance contract with the vendor. Strengthening Customer Relationships We now understand that the depth of the relationship between vendor and customer is directly dependent on the intensity of the customer's needs. who wants a copy of MS Project installed in a computer. financial product. and lower cost of transaction. 2. but they are willing to enter into a relationship with the seller to make the process of buying easier and a more pleasant experience. then customer is willing to have a deeper relationship in order to have their needs satisfied as precisely as possible. the vendor firm must improve the relationship with the buyer. reliability. depends in the intensity of his/her needs.g. vendor must know the current level/stage of relationship he has with 20 . customers enter into a relationship with the vendor in order to serve their own needs.characterized by buyer's convenience. For a vendor to increase sales. Since the software has to be customized for the Telco.g. One has to note that the intensity or depth of the relationship. Customer. customer needs tips from his broker while trading in the stock market. customer expresses a need for a relationship with the vendor for a few basic reasons: satisfy their needs. Both examples point to the fact that the level of relationship a vendor enjoys with the customer is directly dependent on the criticality or importance of customer's needs. then the relationship is superficial . To understand this considers the following examples: 1. convenience. This creates a challenge for a salesman or a marketer at the vendor firm. Customer. Also note that the customer defines the depth of relationship. which the customer expresses to have with the vendor. who is a telecom service provider. Customers need products or services and will obtain them. And to improve the relationship. the customer wants to buy it from a near by store and install it himself. Since this is a simple purchase. On the other hand if the customer wants a routine service or generic product e. Thus there is no real relationship between the customer and the vendor. If a product/service is vital to the customer e. wants to implement ERP software.
with whom a company enjoys the highest level of relationship.exchange of goods/service for money. relationship between buyer and seller can be identified in 6 distinct levels. Customer. This is also reflected in the revenue or sales from a customer. Customer does not bond with the vendor. Here the customer desires to buy a particular product/service. 21 . Level-1: Utility Need This is the most basic interaction between customer and vendor. To increase sales. Levels of Customer Relationships As mentioned earlier. as the relationship is a purely utilitarian one .e. It is therefore in the vendor's best interest to have very deep relationship with the customer. Customer interacts with the seller with the sole aim of acquiring the product/service. Price and convenience. straightforward. no-frills selling. the customer lifetime value is lowest at level-1 and is highest at level-6. The relationship between the firm and the customer is characterized by efficiency in transactions.the customer. Customer will buy only if a product/service appeals to the rational side of the customer i. Level-1 being the lowest level of relationship and level-6 being the deepest level of relationship Level-1: Utility Need Level-2: Convenience Need Level-3: Comfort Need Level-4: Personal Recognition Need Level-5: Self-expression Need Level-6: CO-Creation Need From a marketing perspective. So the first step in managing customer relationship is to know and understand the levels of customer relationships. vendor must work on availability of the product/service. will also be the most profitable customer.
identify and eliminate those procedures that are a hindrance to obtaining a product/service. The vendor should respond by providing services that simplify the buying process i. He placed an order online .i.which is not what he wanted.for a particular configuration. a vendor can deepen the relationship by increasing the number of interactions. he is buying from Dell to meet upto the price that is attractive for him. His expectation from the vendor is that Dell will deliver the computer on stated delivery date. Level-2: Convenience Need Once the customer has easy access to service/goods that they need. Scanners. If the vendor insists or attempts to force a relationship to a higher level. by not offering added products/service .other than those requested by the customer.e..e. customers look for ease of purchase process that denotes a second level of relationship. and then craft a strategy to deepen it. Vendors must first identify the level of relationship the customer has with them. the customer may "pull-out" thus risking future sales.The vendor should respond to the customer (in this level of relationship) by providing the required goods/service.e. consider this example: If someone purchased a laptop from DELL Computers.. If the salesman at Dell attempts to push additional hardware or software . This can be done by: Offering a wide range of products/service. 22 . For example. he might get annoyed and cancel the order. and refrain from interacting at a deeper level i. Computer games etc.. cartridges. To understand this. Augmenting the basic service/goods with a value addition can deepen utilitarian relationships: Cross selling or value addition. having 24/7 sales operations . In this case. Internet or all 24-hour shops. Dell can increase the number of customer interactions by offering a full range of computer accessories: Printers. office software. free software updates etc. Dell can increase the number of customer interactions by offering value added services such as on-site maintenance.
having the products courier & providing the tracking number to the customer. Customer Activity Mapping (CAM) & Customer Decision Mapping (CDM) are the tools that can be used to analyze the decision-making. managers listen to feedback from front-line employees for suggestions to improve the customer's buying experience. buying.while customers wait for their flight. look at the ways the customer buys your Product/service and then provide additional services to make it simpler and easier for the customer. Service companies often resort to mystery shoppers . a vendor can strengthen relationship with the customer in this level and also take the relationship to the next level. Making the buying process as pleasurable as possible. curbside luggage check in. For example. Level-3: Comfort Need 23 . having a service personal ready to attend the customer when the customer enters the bank/hotel/office etc. the objective of the vendor is to identify situations that pose obstacles to the buying process. having a shorter checkout lines in a store. Airlines also provide e-ticketing. And in each stage. the vendor must understand thoroughly the entire customer purchase experience and then eliminate the nagging problems in the purchase process. To improve the buying process. using. and consumption experience. In addition. This is the sure sign of an inefficient and inconvenient buying process Relationships at this level can in strengthened by widening the service interactions with customers. By this I mean. Often times.. Airlines provide comfortable lounges at the airport . Dell has a complete e-Commerce website which enables a secure and easy payment method.who act as customers and buy the product/service to measure & improve the buying experience. Often times. Dell provides the exact shipment details of the computer and is delivered on the specified time. to make customers feel comfortable during the purchase process.For example. there are several instances of customers abandoning their purchase process in the midway. on-line flight details etc.
Level-4: Personal Recognition Need Often times. Here. in this level of relationship. A discomfort during thebuying experience is easily noticed and registered. the customer needs are "personal". For example..and often customer notices the absence of the comfort. based on the context of buying experience. CRM efforts in this level must be focused on making the customer feel comfortable. Note that this is distinctly different than relationship building at level-2. create a feel-at-ease feeling. 24 .without them asking for it. This implies that the vendor should foster a buying environment in which customer feels comfortable and is characterized by an agreeable and relaxing purchase ambiance. the loyalty of customer has been well established. and other means of generating a positive feeling. Relationship is built on a feeling of ease and providing more of the same . a fortune-100 chemical company often conducts the contract negotiations on a luxury yacht. customer enjoys the convenience and a feeling of comfort. BASF. i. This involves training the front-end employees to provide a Comfortable experience to the customer and being sensitive and responsive to the customer's level of interaction the marketing efforts must be directed at improving/building the memory of pleasant experiences of the customer.. many multi-million dollar business deals are done at resorts . This provides the right ambiance and mood to put the customer at ease and feel comfortable during the buying process. regular/loyal customers expect the vendor to interact in a way that his/her personal choices are recognized. which caused inconvenience to the customer.e. This implies that the customer is seeking a level of relationship where they expect the vendor to recognize their needs .greater comfort. while customer forgets comforts. Irony of this "comfort need" is that customers often overlook the comfort factor . where the focus was to remove any factor. fun. the needs were mostly contextual. then they wish to have a "pleasant shopping experience" i. the customer seeks a buying interaction where he feels comfortable. In earlier levels. At this level. fun and pleasant interaction environment can strengthen comfort. surprise.e.Once the customer has a convenient buying process.away from the clutter of the office environment. The marketer should strive to provide customers comfort.
financial institutions treat their high value customers with personalized checkbooks.com ebay. The company must know the customer details.but not a spouse or fiancé. which in turn cause most CRM implementations fail. The irony of the CRM systems at this level is that customer feels that the CRM systems compromise customer's privacy . Interactions must be respectful. possible tastes and preferences sufficiently well to Build the relationship. In business-to-business environment. The "relationship manager" or "client partner" can also make suggestions. as exchange of personal information may be perceived as invasive.and for that reason most customers are reluctant to share personal information with the vendor. etc.so that any potential tensions or conflicts are avoided or reduced to minimum. 25 . Advent of Internet has created opportunities for vendors to provide customized web interfaces to each of their clients.and then move the relationship to the next higher level.but without invading the privacy of the customer. vendor can discover (discreetly) the personal needs of the customer . tickets to popular events etc.CRM efforts at this level are to personalize the service/product offerings. This personal information must be carried in the mind of the vendor salesmen. who knows the clients exact needs and has the authority to deliver the customer's needs. Only when the customer is comfortable. A salesman or marketer or account manager must therefore take extra precaution not to reveal any personal information of the customer to the CRM database system. provide consulting advice to the customer . the level-3 relationship of making the customer feel comfortable must always be accomplished. For example.com etc Provide customers with customizable web interfaces To bring a customer to this deep level of relationship. this is characterized by having a dedicated relationship manager who interacts with the client. Amazon. The timing therefore needs to be right . The relationship at this level is more personal . Relationship at Level-4 is analogous to that of a romantic partner . providing a personal financial advisor.Along with dinners/lunches.
customers are more rational. The Customer then expects Intel (vendor) to announce and supply the latest processors in time so that Dell can ship the computers to its customers in time for Christmas. a common example will be that of a (famous) client and his/her fashion designer. such as rewards for customer loyalty (given to the customer .Customer's need for personal recognition may be met by very simple acts by the salesman. vendor should be able to offer highly customized and personalized offerings. Customers who are in this level of relationship expect the vendor to focus on customizing and personalizing the product/service offerings. the customer is ready for the next level of relationship . Level-5: Self-_Expression Need Once the customer feels that the vendor recognizes him/her as person and can associate personally with the vendor. external to the customer).e. vendor can build this relationship by learning the customer needs. It must be noted that in a B2B world.. At levels 5 and above the relationship depends on internal and external factors including rational and emotional considerations. buying agent or the key decision maker). As a result. Dell Computers being a customer of Intel expects Intel to know its needs for latest and most powerful microprocessors for the Christmas season. 26 .i. The customer expects the vendor to have a clear understanding of their needs and the vendor should be able to meet them. In a consumer world. For example. confidence & respect. tailor made products. The relationship is characterized by mutual trust. Their business needs drives the relationship and is partly independent of personal factors.e.. The client expects the fashion designer to know his/her tastes and provide clothes accordingly. and words of appreciation. Customer relationships in levels 1-4 are defined by customer’s experience and are therefore heavily dependent to the external environment (i.that is of Self-_expression. Based on these learning/insights.
The key for success in building relationship at this level is to understand the customer's implicit needs . some aspects of customer's interests merge with that of the vendor's interests. In a B2B setting. Level-6: Co-Creation Need This denotes the highest level of customer relationship. The ultimate outcome of relationship marketing is the building of unique company assets called the marketing network. this involves understanding the customer's business operations. Relationship Marketing Relationship Marketing has an aim of building mutually satisfying long term relationship with its clients in order to earn and retain their business. the relationship is characterized by a sense of collaboration. Customer feel closely bonded to the vendor .i. business models and then providing customized solutions: Like releasing products in time for Christmas or having goods packed in a truck in a manner it is efficient for customer etc.. 27 . At this level. those needs that are not expressed verbally. Often the customer to the surprise of the vendor initiates the idea of co-creation. the customer loyalty & trust is very high. Customers are willing to invest for joint development of products/service.e. Co-Creation denotes the highest level of customer relationships. I. The customer feels a need for a unique product/service and is willing towork with the vendor to develop the product/service. Relationship marketing build long& strong economical. Vendor can strengthen the relationship by understanding the customer's implicit needs and focusing on different ways to customize and personalize the offerings. which involve co-creation of products/services. Co-creation relationships are personal and rational. Broadening interactions. At this level of relationship. technical and social ties among the parties.to the point that the customer seeks a joint destiny with the vendor. customer is very comfortable dealing with the vendor. Marketer accomplishes this by promising and delivering high quality product and services at fair price to the other parties over time. can strengthen this relationship..e.
1. 2. 3. Each company captures only a certain percentage of total value generated by the supply chain. Service Channel: To carry out transaction with potential buyers. We can broaden the picture further by distinguishing four levels of competition based on the degree of product sustainability: 1. Marketer clearly faces a design problem in choosing the best mix of communication. The supply chain represents a value delivery system. the supply chain describe a longer channel stretching. • Marketing Channel: To reach target market. distribution and service channel for their offerings • Supply Chain: The marketing channel connect the marketer to the target buyers. Competitor: It includes all the actual and potential rival offering and substitutes that a buyer might consider. its aim is to capture a high percentage of supply chain value. Brand Competition: A company sees its competition as other companies offering similar products and service to the same customer at similar price. The operating principal is to build an effective network of relationship with key stakeholders. ad agencies and others) with whom it has built mutually profitable business relationship.A Marketing network consists of the company and its supporting stakeholders (Clients. This includes distributors and agents. telephone etc. 28 . Communication Channel: It delivers & receives messages from target buyers and includes newspaper. Distribution Channel: To display sell or deliver the physical product or service(s) to the buyer or user. When a company acquires competitor or moves upstream of downstream. television. Employees. marketer uses three kinds of marketing Channel.
They prefer suppliers who can sell and deliver a coordinated set of product and services to many locations. These environments contain forces that can have a major impact in task environment. From Competition: A company sees its competitors as all companies manufacturing products that supply the same service. When a relationship management program is promptly implemented. Generic Competition: A company sees its competitors as all companies that compete for the same consumer. political environment. and sociocultural environment. suppliers. natural environment. the organization began to focus as much on managing its customer as on managing its products. The company wants to demonstrate that it has the capabilities to serve the client needs in a superior way. but in many cases the company is not seeking an immediate sale. The marketing environment consists of the task environment and the broad environment. Marketing Environment: Competitor represents only one force in the environment in which the marketer operates. 4. Industry Competition: A company sees its competition as all company making the same products or class of products 3. Principles of Relationship Marketing: The principal of personal selling and negotiation thus described are transaction oriented because their purpose is to close a specific sale. At the same time companies should realize that while there is a strong and warranted move toward relationship 29 . economical environment.customer relationship. distributing.2. 2. but rather to build a long term suppliers. The main actors are the company. technological environment. dealers and the target customer. 1. distribution and promoting the offering. Today’s customers are large and often global. Task environment: It includes immediate actors involved in producing. Broad environment: It consists of demographic environment.
2 NEED OF STUDY Today. The purpose of this study is to study whether Customer relationship management policies followed by Religare cater to the needs of the clients or not.marketing. Ultimately companies must judge which segment and which specific customers will respond profitably to relationship management. for any organization or firm to survive in this competitive world depends on itsability to be dynamic and be different from the competition to be unique in the industry. it is not effective in all situations. 1. Whether the clients are happy with the services provided by Religare. 30 .Customer Satisfaction helps every organization to keep the existing customer and to buildnew customer.
Shared Technology.2. at a profit. Wilson (1995) summarized different relationship variables that affects the relationship of firm with different stakeholders. Adaptation. Morgan and Hunt (1994) defined Relationship marketing as the marketing activities directed toward establishing. those variables are Commitment. and on the other. Comparison Level of Alternatives. Interdependence and Power. One of the many sets of tools aimed at aiding the interaction between supplier and customer is customer relationship management (CRM). created specialist purchasing departments and buyer professionals. mass production enforced producers to sell their product & services through middlemen. maintain. Trust. due to specialization of corporate functions. Gronroos (1990) states “Marketing is to establish. so that the objectives of the parties involved are met. Performance Satisfaction. Kotler and Armstrong (2004) define CRM as “the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction”. thus separating the users from the producers. The separation of the producers from the users was a natural outcome of the industrial era. This is achieved by a mutual exchange and fulfilment of promises” Gefen (2002) in his article reviewed that comparison of CRM to ERP systems and arguing that customer relationship activities are not as standardized as other business activities. such as accounting or procurement. CRM 31 . Cooperation. and enhance relationships with customers and other partners. Hence CRM implementation calls for much more complex and flexible approach. competing for customers on a globalised market like never before. On the one hand. Mutual Goals.1 REVIEW OF LITERATURE Bergenfield  Businesses are in a constant race to increase profits. and Social Bonds. industrial organizations. developing. and maintaining successful relational exchanges. Non-retrievable Investments. keep currentcustomers and gain or poach new ones. Structural Bonds.
effectiveness measurement. Dick Lee (2000). Sharma. More specifically. Kaufman. This framework although useful. they conclude that firm commitments to either an on-line or bricks and mortar presence affect the performance of the CRM initiative. technologies. 2) types of customer data collected/available. Customer relationship management is about more than simply managing customers and monitoring their behaviour or attitude. Jayachandran. access and use customer information. maintaining. coupled with a review of the literature. and experience of customers. vigilant adherence to detailed goals. processes. Taking Winer’s framework into consideration. Another study of on-line retailers with a brick and mortar presence. These areas are: 1) objectives of the CRM program.is a managerial term which focuses on efforts to attracting. evaluation of a current situation preparation of a project. is quite general and is only a starting point in the quest to identify relevant activities/behaviors/outcomes for a CRM program. Srinivasan and Moorman (2005). Winer (2001) provides a framework for one to begin conceptualizing a CRM program. and a constant awareness of the customer's view point. six areas are identified which comprise a CRM program. emphasizing the importance of context when evaluating the impact of CRM on firm performance. management of customers. and Raman (2005) found that firms that have higher CRM performance also had the ability to capture. commitment from both executives and line workers. 4) the firm’s 32 . Oligvy and One (2001) purposed the model which states that CRM is to analysis. and enhancing customer relationships. linked the impact of firm strategic commitment to the performance of CRM system investments. Chaudhuri and Shainesh (2001)-A CRM programmer requires a clear understanding and commitment to the company's customers. CRM is perceived as “chain reaction” which is source by new strategic proposal of communication with customer when high level of information technologies development and stable customers need to get enhanced quality of service are achieved. In a study assessing the impact of relational information and processes. 3) uses of customer data for managerial decision-making. employees and an enterprise.
We are not in business to make products and provide services. how they want the product. what their expectations are. Stadler (2001) said that it is important to look at the current status of the company. Karl(2000) maintained different organizations use different customer knowledge strategies to best match culture. CRM normally involves business process change and the introduction of new information technology. Customer knowledge is an important asset for all businesses. Benefits 33 . 5) tactics used to develop and maintain relationships with customers. how they want the service. how they want to be dealt with and which channels of communication they prefer. and capabilities.These assessments help to identify where the organization is in terms of customer-centricity and creates a snap shot of the organization that helps as a starting point for the CRM project. The world is full of products and services in which customers see no benefit and for which they are neither willing nor able to pay. and 6) the information technology infrastructure currently in use. The first step towards a CRM project is to know who the customers are. CRM environments are complex and require organizational change and a new way of thinking about customers and business in general. A readiness assessment establishes how ready the organization is for a CRM project and a maturity assessment is necessary to show how mature the organization's current practice is . managers can start to evolve all the processes needed around the customer Dobbins and Pettman (1997) state CRM as one of the nine basic skills for business success: Remember that we are all in business to provide benefits for customers . 2003). They try to reap the best business value from their existing knowledge-based assets or try to create new knowledge-related assets where they are required . priorities.With the customer in mind and the customer providing the central emphasis of an organization.at a profit. Galbeth (1999) maintained the importance of providing effective leadership. what they need. In addition. leaders have the power to influence personnel to buy in (Bull. Sharp (1997) concluded it is important Knowing the customer.approach to market. consequently effective leadership is important Because leaders monitor the external environment of an organization they are often the best people to set the vision or strategic direction for CRM projects. In this stage assessments have to be made and sometimes external assessors may be hired.
selfpreservation.” In fact. better relationships. greedy. safety. social status. the management has decided to adopt Customer Relationship Management. better health. McKenna(2008) offered a more strategic view by putting the customer first and shifting the role of marketing from manipulating the customer (telling & selling) to genuine customer involvement (communicating & sharing the knowledge). the biggest challenge faced by the management is to create and maintain relationships with customers. once said “A lot of companies have chosen to downsize. Remember that customers are lazy. security. he defined relationship marketing as attracting. Thus. and may be that was the right thing for them. a good laugh and excitement. success. popularity. new knowledge. they would continue to open their wallets. It is like back bone to that particular organization previously customer relationship was limited to person to person marketing but in this knowledge era market is not limited to certain place it is widely spread like globalization so it is introduced as online marketing. chairman and co-founder of Apple Inc. prestige. additional wealth. power. a decent meal. admiration. a business strategy to create a beneficial environment among customers. maintaining. ignorant. companionship. In today’s highly competitive business world. Steve Jobs. recognition. self-expression. impatient. selfish. ruthless and vain. and. It is a customercentric business environment and lack of right attitude showed by management may adversely affect the business. We chose a different path. 34 . Developing closer relationships with this customers and turning them into loyal is an equally important aspect of marketing. Our belief was that if we kept putting great products in front of customers. influence. To maintain healthy relationships with customers in order to maximize profit. disloyal. Imaduer Rahman (2007) concluded many organizations or companies we have today in these CRM plays an important role either in software solution companies or any organization. in a broader term stressed that attracting new customers should be viewed only as intermediate step in the marketing process. Berry(1999) . customers hold the pillar of a business and regard as the most valuable resource in the market.customers seek include an increase in selfesteem. enhancing customer relationships. self-actualization. Use your creativity to generate benefits which are consistent with customer characteristics.
TITLE CUSTOMER RELATIONSHIP MANAGEMENT WITH SPECIAL REFERENCE TO EQUITIES 35 ..
2.3 STATEMENT OF OBJECTIVES 1. 36 . To know the satisfaction level of Religare Equity clients in NCR region. To study the effect of Customer Relationship Management Practices while making purchase and repurchase decision 3. To study the Customer Relationship Management practices that is implemented at customer level 2.
the nature of expected results and the analytical methods. 37 . 3. Descriptive research describes about the population or phenomenon being studied.RESEARCH METHODOLOGY The research methodology is the specification of method of acquiring the information needed to structure or solve the problem. • Secondary Data: It refers to the information or facts already collected. 3.3 Method of Data collection • Primary Data The method followed in obtaining the primary data was through the structured questionnaire. 3. It is not considered to be the decision of facts but also building up the data knowledge and to discover the new fact involved through the process in the dynamic change in the society. The data was taken from internet and journals. followed a Descriptive Design.2 Type of Research The present study. 3.1 Scope of the project This research was conducted in NCR Region on those respondents who have been investing in Equities through Religare Securities.4 Sample Design Universe All the investors who invest in equities through Religare Securities. Descriptive research is pre-planned and structured. being conducted. Design of descriptive studies includes the nature and source of the data. It produces a picture of phenomenon in which decision maker is entrusted.
Sample size Sampling size refers to total number of respondents targeted for collecting the data for the research. As the project is also based on secondary data. no matter how carefully the questionnaire has been designed and field investigation has been conducted. Sampling Unit Every single respondent who has filled the questionnaire. Study is done only for NCR investors. 3.Population All the investors who invest in equities through Religare Securities in NCR Region.5 Limitations of the Study The study based on survey through pre-designed questionnaires suffers from the basic limitations of the possibility of difference between what is recorded and what is the truth. The sample size for survey conducted is 50 respondents. Time has played a biggest constraint that the research could not be carried out comprehensively as the duration of the study was only 6 weeks The investors may be biased. 38 . The sample size was limited. Sampling technique The selection of respondents was done on the basis of Convenience Sampling technique. possibility of unauthorized information cannot be avoided. Close responses.
1 Profession In which respondent is engaged S.No 1 2 3 4 Profession Business Services Entrepreneur Others Total Respondents 10 20 5 15 50 Percentage 20 40 10 30 Analysis: From the 50 respondents approached. 39 .DATA ANALYSIS & INTERPRETATION Table 4. People who were in other professions were second contributing 30%. 10 respondents belonged to business class and 5 were entrepreneurs. 20 belonged to services profession who invested in share market through Religare securities.
Reason being that they think it is good investment as it can bring profits and add to their income.Interpretation: From the analysis done above it can easily be interpreted that more people from services sector invested in share market. 40 .
Interpretation: The data clearly depicts that most people have been Religare clients from 2 to 4 years. Next in line are respondents who have been Religare clients since 1 t o 2 years. This is a maximum % among respondents.Table 4.2 Time period of investing S.No 1 2 3 4 Time(years) <1 1 to 2 2 to 4 4 to 5 Total Respondents 7 13 22 8 50 Percentage 14 26 44 16 Analysis : From the graph it can be easily concluded that 22 respondents have been Religare clients from 2 to 5 years. This means that the clients are 41 . This is more them enough time to judge the company. 8 respondents have been investing in Religare for 4-5 years and 7 have been Religare clients since less than one year. They are 13 in number.
happy with the policies of this particular firm and services provide by them. 42 . This is the reason why they have been with the company for a considerable time.
Table 4.No Reasons Reputation of company Consumer friendly policies Respondents Percentage 1 10 20 2 17 34 3 Advertisements 7 14 4 Good Services 12 24 5 Any other 4 8 Total 50 43 .3 Reasons For Investing S.
4 respondents cited other reasons. 10 are investing through Religare due to its Reputation in the market and 7 due to advertisements. Interpretation: It is clearly understood from the data that most of respondents are Religare clients due to the Consumer Friendly policies it offers like Negotiable Brokerage. As many as 12 respondents think that their services are the reason why they are sticking with the firm. providing updated information.Analysis: From the data it is found that as many as 17 people have been Religare clients due to good consumer policies offered by them. Accurate solutions to their problems…etc… 44 .
45 .No 1 2 Options Yes No Respondents 35 15 Percentage 70 30 Analysis : From the pie chart depicted above it is clearly understood that out of 50 respondents 35 are aware of the Customer relationship marketing Practices followed by Religare and rest 15 are not aware. The reason may be that they are aware of the term themselves then the rest. Interpretation: This is pretty much straight forward question as majority of respondents are aware of the CRM practices followed.Table 4.4 Awareness of Customer relationship marketing policies S.
5 Customer Relationship marketing Policies S.Table 4. 8 respondents think 46 .No 1 2 3 4 5 6 Practices Optimum solutions Updated Information Long term concessions Door Step services Regular in touch Any other Total 50 Respondents 10 20 1 3 11 5 Percentage 20 40 2 6 22 10 Analysis: By studying the chart above we can conclude that out of 50 respondents 15 thought the Customer Relationship Marketing Practice followed by the company is providing updated information of the new launched policies. Next in line are 7 respondents according to whom providing optimum solutions to the problems is the major CRM practice.
Policy here is a broader term which includes giving them details about share market. any other and long term concessions in the ratio of 2:2:1. 47 .that being regular in touch with their RM’s is the practice followed while remaining were divided among door step services. new policies. new SEBI rules of market. Interpretation: Most of the respondents responded that getting updated information is the best CRM policy adopted by the company.
Table 4. Keeping in touch with your RM 48 .No 1 2 3 4 5 6 Practices Optimum solutions Updated Information Long term concessions Door Step services Regular in touch Any other Total Respondents 13 17 1 5 12 2 50 Percentage 26 34 2 10 24 4 Analysis: This question is for all the respondents that what according to them is a important policy a company should follow.6 Choose any 3 Customer relationship Practices S. Here 17 respondent think that giving up to date information is the key while 13 says providing optimum solutions is important.
manager after buying/investing is important for 12 respondents.5 people opted for door step services and 2 gave other reasons while 1 was for long term concessions. 49 . Interpretation: Most of the people also think updated information is an important practice because as they have invested their money is stocks they need to be provided with latest information.
Second were those 10 50 .7 Reason for Religare to follow these practices S.Table 4.No 1 2 3 4 5 6 Practices Building Brand image Competitors Retention of customers Increase in sales and profits Word of mouth Any other Total Respondents 10 3 25 4 6 2 Percentage 20 6 50 8 12 4 50 Analysis: This bar chart gives us an idea about why Religare should follow above mentioned practices. 25 of the respondents were in favor of retention of customers.
Interpretation: More people stated that retention of customers should be the main reason for a company because in such competitive world if a customer is not satisfied from a particular firm he can easily move onto other company. competitors and others in ratio of 4:3:2. 6 thought that by following above practices Religare can gain from word of mouth.8 (a) Satisfaction Level for Staff Efficiency 51 .respondents according to whom building brand image should be the reason. schemes to retain the customers. Rest of the respondents gave reasons like increase in sales and profits. Table 4. So it become necessary for a company to provide good services .
Analysis: The chart above gives us indication about the satisfaction level of respondents for staff efficiency. Table 4. Out of these 22 are happy with the efficiency of the staff. Interpretation: The reason which can be given is that these respondents may have better relations with their dealers and updates are provided to them instantly. Rest of respondents vary from 15 to 2.8 (b) Satisfaction Level for Redressing of complaints 52 .
Interpretation: This is a tricky one as this satisfaction level varies considerably. Table 4. Some complaints have been addressed quickly and some not.ie 14 each. Here striking feature is that both the very good and average experiences match each other. It also depends on the nature of complaints.Analysis: The above bar chart shows the number of respondents corresponding to redressing of complaints.8 (c) Satisfaction Level for Timely Responses 53 .
Analysis: The bar chart above gives us information about timely responses.16 respondents are
happy with the time at which they are given the responses.4 is the least figure.
Interpretation: More respondents are in favour of Good option as their experiences have
been good in getting responses.Comparatively the number is more inclined towards good,excellent level and less towards poor.
Table 4.8 (d) Satisfaction Level for Updated information
Analysis: The above bar chart gives us information about satisfaction level for updated
information.13 are not satisfied while only 6 are extremely happy.
Interpretation: The reason is that some of these respondents even after getting information
don’t trade so automatically relationship managers become hesitant before telling next time.
Table 4.8 (e) Satisfaction Level for Clarity of concept
Analysis: This bar chart gives us information about satisfaction level for clarity of concept.16
respondents say this service is excellent while 7 say average. Interpretation: It can be concluded that people have clarity of concept regarding opening of accounts as some dealers don’t give full information initially with the fear that it may cause a person to not open an account like AMC etc.
Table 4.9 Influence of Customer Relationship Practices in further Investing
S.No 1 2 Options Yes No Respondents 30 20 Percentage 60 40
10 Recommend to others S. Table 4.Total 50 Analysis : This pie chart shows the number of respondents who think whether these Customer relationship policies are influential in further investing or not. Interpretation: Most people responded in favor because according to them if policies and services are good then they will be satisfied with the company and invest further.No 1 Options Yes Respondents 31 Percentage 62 57 . After conducting the survey 30 were in favor and 20 were not.
Table 4.11 Experience in Stock market S. relatives etc).31 responded that they would suggest Religare Securities and 19 responded that they will not recommend.No 1 Experience Excellent Respondents 7 Percentage 14 58 . Interpretation: The people who will recommend are those who are satisfied with Religare services or in recent time have earned profits.2 No Total 19 50 38 Analysis: The above pie chart gives us information about number of people who will recommend Religare securities to others (Friends.
That’s the reason why only 7 respondents have excellent results and some among them are long term investors.2 3 4 5 Very Good Good Average Poor Total 10 10 18 5 50 20 20 36 10 Analysis: The above graph gives us information about experience of respondents is stock market. you are not guaranteed profits every time you invest. The experience of 18 respondents was average while 10 respondents each were in very good and good category. Interpretation: The best explanation for this is the share market is very volatile. The experience of 7 respondents was excellent and of 5 was poor. Mostly experiences has been average as some people have made profits and losses on the same day also (intra day trading). 59 .
FINDINGS AND ANALYSIS: - • • Better rate &Commission. 60 . Flexibility in service providing.
Their presence in the market/ General response of customer in the market. Immediate feedback / market information on time. which is to be suggested. Maintenance of Personnel Relationship with clients. Reputation/ Goodwill of the firm. Research backup. Transparency in operation of business activity.• • • • • • • • • • • Prompt and Clean Deal. Past performance/ Experience. is as follow: 61 . Credibility of the broker. Timely payment of cheque. RECOMMENDATIONS: - The Recommendation. Customized service.
• • Religare securities should provide more security to the existing and prospective clients. Taking these things into consideration there are lots of opportunity for the Broker House 62 . • • It should provide regular and update market information. There should be more banners posters pamphlets distribution in the market to increase the awareness level among the people.• Religare securities should enhance the customer care department where queries can be timely solved. • Timely release of Brokerage & Fast redressal of clients grievance is a major plus point. CONCLUSION In spite of the bleak and grim out look the future of capital market is growing at a very high pace. • Special attention need to be given to the delivery of monthly & fortnightly report to the clients. There should be target incentive for executive which will boost up their morale will give more and more business to Religare. if Religare is looking to develop long term relationship with its clients.
Another reason for low investment in this sector is that most of the companies are not performing well and also due to the scams that are taking place frequently Once people know about the benefit offered by it. They have much more potential to expand their business and market in India.which already exist and which are due to enter in the Indian market. The only thing which is needed to focus on is that they should have a strong marketing strategy so that prompt service and availability of forms is made available to the investors at a short notice provided that it keeps into mind the traditional base for marketing in India. As people have entered in this particular investment avenue they have lost their money because of movement in the market. BIBLIOGRAPHY Books Capital Market module (NCFM) 63 . If the progress of Religare goes in the same way then I can say that Religare will be going to emerge as a major player in the Capital market. has shaken the faith of investor in this particular avenue. Religare has emerged a very strong player in the field of distribution of financial product within a short period of one year in Northern India and is giving stiff competition to the entire player in the Delhi & other parts. Capital market will become one of the sought after investment avenue. which is a price sensitive. which is below the par value and this. We can say that Religare has a great future ahead. These are little awareness about Equity and Mutual funds in India people have accepted it as one of the major investment avenue.
com/sub_india/financialreports.html http://bseindia.php? sc_did=RE09&type=balance • http://www._Customer_Relationship_ Management_A_Framework.pdf 64 .economywatch.asp http://money.tv/money/thebrokerageindustry.theinvestor.htm?L=2&id=hd1&Lid=0 http://bseindia.thetawer.moneycontrol.com/ http://www.indianjournals.Capital Market by Sanjay Aggarwal http://www.com/companies/religare-enterprises-ltd/14010630/ratio http://indiaearnings.moneycontrol.com/product_rally.crmmastery.htm http://www.rediff.religarecommodities.com/market/share-market/share-markettrading.htm?L=2&id=hd1&Lid=1# http:// http://crmweblog.com/deri/Deri/Eligibility.com/ij/importance of Crm or.aspx? target=ijor:glogift2k8&volume=1&issue=1&article=chap048 Weblinks • • • • http://www.in/ http://www.com/wiki/images/4/43/B.php? sc_did=RE09&type=profit • http://indiaearnings.com/deri/Deri/Introduction.religare.moneycontrol.com/companyfacts/religareenterprises/history/RE09 • • • • http://www.com/sub_india/financialreports.
I. <1 B. Entrepreneur D. Business B. Reputation of the company B. Good Services 65 . Advertisements D.As part ofmy project I am collecting data through this questionnaire for theProject. am a student of MBA in PCTE. The information provided by you will remain confidentialand be used for academic purposes only. Services C. Arjun Singh. 2-4 D. I havebeen assigned project on the topic “Customer Relationship Management inReligare Securities with special reference to equities”. Baddowal.QUESTIONNAIRE Dear Respondent. Others Q2. 1-2 C. Consumer friendly policies C. For how many years have you been trading through Religare? A. Q1. 4-5 Q3. In which profession are you engaged in? A. What is the reason behind investing through Religare Securities? A.
B. Regular in touch after selling Any other _______________________________________________________________________ ___________________________________________________________ Q6. Providing optimum solutions to customer’s problems B. Long term concessions D. Any other ______________________________________________________________________ __________________________________________________________ Q4.E. Long term concessions D. Are you aware of the Customer Relationship Marketing policies followed by the company? A. 66 . Providing optimum solutions to customer’s problems B. F. What are the Customer Relationship Marketing practices followed by the company? A. Yes No Q5. Regular in touch after selling F. Giving Updated information of new policies C. Door step services E. Door step services E. Any other _______________________________________________________________________ ________________________________________________________________ . Choose any 3 from the mentioned practices which you think are important from a company point of view? A. Giving Updated information of new policies C.
Competitors C..Q7. Q8. Positive word of mouth F. Increase in sales and profits E. Choose any reasons why Religare should follow the above mentioned practices. Retention of customers D. Services Staff Efficiency Redressing of complaint Timely Response Updated information Clarity of concept(Initial information) Excellent Very good Good Average Poor 67 . Building brand image B. Please tick the desired answer. A. Any other ________________________________________________________________________ _______________________________________________________________ .
68 . What has been your experience in stock market? A. Average E. Yes B. No Q11. Are these Customer Relationship marketing policies followed influential in further investing? A. Poor Personal details Name: Age: Gender: Annual Income: Thank you for cooperation and valuable time. Very good C. Will you recommend investing in stock market through Religare to others? A. Good D. Excellent B.Q9. No Q10. Yes B.
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