SUMMER TRAINING REPORT

ON

Sales & Marketing

AT

Finaxo solutions india Pvt. Ltd

Submitted in the partial fulfillment of the requirement

for the award of degree of

Bachelor of Business Administration

MAHARSHI DAYANAND UNIVERSITY

(Session: 2019-2022)

Submitted by-

Karina

BBA 5th semester

University roll no.

Government P. G. College for Women, Rohtak

Page 1
 DECLARATION

I am Karina, a student of fifth semester, Bachelor of Business Administration. Roll

no. …………… of " Government P.G. College for Women, Rohtak ", under the
Maharshi Dayanand University, Rohtak that the Project Report entitled on "
Inventory Management " being submitted by me in original place of work done by
me. The matter presented has not been copied from any other existing report.
However, Extracts of this literature has been used for this report has been duly Project
Report has not been submitted for the fulfillment of the requirements for the award of
any requirements for the award of any other degree or Diploma to any other college /
university.

Karina

Page 2
 ACKNOWLEDGEMENT

Gratitude is the hardest of emotions to express and often one does not find adequate
words to convey that entire one feels.

I am extremely grateful to the management of Finaxo Solutions India Pvt. Ltd. . For
giving me an opportunity to pursue summer training at the company.

It’s my proud privilege and pleasure to express a deep sense of gratitude.

The assistance and cooperation extended by other staff member helped me to

successfully accomplish this Summer Training Report and its objectives.

A special thanks to all my trainee friends whose company made the working
atmosphere cheerful and helped me to complete the project.

Karina

Page 3
 TABLE OF CONTENTS
 DECLARATION
 ACKNOWLEDEMENT
 PREFACE

Sr.No PARTICULARS

1. CHAPTER 1

 INTRODUCTION TO THE TOPIC

 OBJECTIVES OF THE STUDY
 COMPANY PROFILE

2. CHAPTER 2

 REVIEW OF LITERATURE

3.
CHAPTER -3

 RESEARCH METHODOLOGY

3. CHAPTER 4

 DATA ANALYSIS AND INTERPRETATION

4. CHAPTER 5

 FINDING
 CONCLUSION
 SUGGESTION
 LIMITATION

ANNEXURE

 BIBLIOGRAPHY
 QUESTIONAIRE

Page 4
 CHAPTER – 1

INTRODUCTION

“Marketing is a social and managerial process by which individuals and groups obtain
what they need and want, through creating, offering and exchanging products of value
with others”.
- Philip Kotler.

Marketing includes all those activities having to do with effecting changes in the
ownership and possession of goods and services. It is that part of economics which
deals with the creation of time, place and possession utilities and that phase of
business activity through which human wants are satisfied, by the exchange of goods
and services for some valuable consideration.

Page 5
 - American Marketing Association.

Marketing is the process of discovering and translating consumer wants into product
and service specifications and then in turn helping to make it possible for more and
more of consumers to enjoy more and more of these products and services.

Marketing consists of analyzing marketing opportunities, researching and selecting

target markets, designing marketing strategies, planning marketing programs and
organizing, implementing and controlling marketing effort.
Companies have to identify long and short term marketing opportunities and research
the selected market by measuring and forecasting attractiveness of the given market.
Having selected the market, the companies need to develop a differentiating and
positioning strategy for the target market. The marketing strategy must be transformed
into marketing programs by deciding on marketing expenditures and the marketing
mix. The final step is organizing the marketing resources and implementing and
controlling the marketing plan.

Marketing Mix

Marketing mix is the set of marketing tools that a firm uses to pursue its marketing
objectives in the target market.
McCarthy has popularized a four factor classification of marketing tools known as the
4P’s of the marketing mix. They are:
 Product
 Price
 Place
 Promotion

Product:

Page 6
Product stands for the firm’s tangible offer to the market, including the product
quality, design, features, branding and packing. It deals with new product
development, product life cycle, product mix, product lines, branding and associated
services to a product. From the customer’s point of view, it helps in satisfying the
customer’s needs and wants.

Price:

Price is the monetary value of the product. Price deals with selecting the pricing
objectives, setting the price, discounts, allowances, payment policies and credit terms.
It is very important to the customers as it decides the cost the customer has to pay to
gain the product value.

Place:

This marketing tool stands for the various activities the company undertakes to make
the product accessible and available to the customer. It involves market size, channel
selection and management, storage and physical distribution with the ultimate purpose
of efficiently supplying the company’s offer to the target market. To the customer,
this marketing tool refers to convenience.

Promotion:

Promotion stands for various activities the company undertakes to communicate and
promote its products to the target market. It involves communication programs i.e.
direct marketing, advertising, sales promotions, public relations and motivation of
sales force. To the customer this tool provides knowledge and information.

Page 7
The Promotion Mix of a company includes the following tools;
Advertising:

It is any paid form of non-personal presentation and promotion of ideas, goods or

services by an identified sponsor.

Direct Marketing:

It refers to the use of mail, telephone and other non-personal contact tools to
communicate with or solicit a response from specific customers and prospects.

Personal Selling:

Face to face interaction with one or more prospective purchasers for the purpose of
making a sale refers to personal selling.

Public Relations and Publicity:

It refers to the variety of programs designed to promote and or protect a company’s

image or its individual products.

Sales Promotions:

The short-term incentive to encourage trial or purchase of a product or service

refers to sales promotion. Whereas advertising offers a reason to buy; Sales &
Marketingoffers an incentive to buy. Since Sales & Marketingdirectly push up the
sales, increasing number of companies are undertaking Sales & Marketingactivities.

Sales Promotion
Page 8
Sales & Marketing refers to the short-term incentives to encourage sales of a product
or service. It consists of a diverse collection of incentive tools, mostly short-term,
designed to stimulate quicker and greater purchase of products or services by
consumers.

Purpose of Sales Promotion

Sales & Marketing tools vary in their specific objectives. They may be used to
attract new customers, to reward loyal customers and to increase the repurchase rates
of occasional users. Sales & Marketing usually targets brand switchers because non-
users and users of other brands do not always notice a promotion. Sales promotions
are thus also seen as a tool for breaking down loyalty to other products.
Sales promotions also let manufacturers adjust to short term changes in supply and
demand and differences in customer segments. They also let manufacturers to
experiment by varying prices. Sales promotions also lead to greater consumer
awareness of prices.
To use sales promotion, a company must set objectives, select the right tools, develop
the best program and implement it and evaluate the results.

Objectives of Sales Promotion

The specific objectives set for sales promotions will vary with the type of the
target market. For consumer promotions, objectives include encouraging purchasing

Page 9
of larger sized units, building trial among non-users and attracting switchers away
from the competitor’s brands. For trade promotions, objectives may include; including
retailers to carry new items and higher level of inventory, encouraging off-seasonal
buying, of-setting competitive promotions, building brand loyalty of retailers and
gaining entry into new retail outlets. The sales force promotions help in encouraging
support of a new product or model, encouraging more prospecting and stimulating
off-seasonal sales. But most importantly, Sales & Marketing should be focused on
consumer relationship building.

Sales & Marketing Tools

Many tools can be used to accomplish Sales & Marketing objectives. Descriptions
of the main promotional tools are as follows;

Consumer Promotion Tools

The main consumer promotion tools are as follows;

 Samples:

They are offers of a trial amount of a product. It consists of inviting

prospective purchasers to try the product without cost or at a lower cost in the
hope that they will buy the product. Samples may be free or discounted.

 Coupons:

Coupons are certificates that give buyers a saving when they purchase a
specified product. Coupons can be mailed, placed in advertisements or
included with other products.

 Rebates:

Page 10
 Rebate is also known as cash refund offers. Rebates are offers to refund part
of the purchase price of a product to its customers who send a proof of
purchase to the manufacturer. These are like coupons except that the price
reduction occurs after the purchase and not at the point of sale.

 Price Packs:

Cents-off deals or price packs offer consumers savings by way of reducing

prices that are marked by the producer directly on the package.

 Premiums:

These are the goods offered either free or at a low cost as an incentive to
buy a product. Premiums may be in-pack or on-pack (outside the pack).

 Prizes:

They are offers of chance to win something such as cash, trips or goods – by luck
or through extra efforts. Contests of talent and sweepstakes or draws the most
popular prize offering promotions.

 Tie-in Promotions:

Tie-in promotions involve two or more brands or companies that team up on

coupons, refunds or contests to increase their pulling powers.

 Cross Promotions:

Page 11
 Cross promotions involve using one brand to advertise non-competing brand.

 Advertising Specialties:

These are useful articles imprinted with an advertiser’s name, given as gifts to
consumers.

 Patronage Rewards:

They are cash or other awards for the regular use of company’s products or
services. They are values (in cash otherwise) that are proportional to one’s
patronage of a certain vendor or a group of vendors. They aim at building brand
loyalty.

 PoP Promotions:

Point of purchase (PoP) includes displays and demonstrations that take place at
the point of purchase or sale.

Trade Promotion Tools

More money is spent by companies on trade promotion (58%) than on consumer

promotions (42%). The major trade promotion tools are as follows;

 Discounts:

It is also known as price-off or off-invoice or off-list. Discounts price cut off the
list price on a particular quantity purchased during a stated time.

 Allowances:

Page 12
 They are the amount offered in return for an agreement by the retailer to feature
the manufacturer’s products in some way; displays, advertising or otherwise.

 Free Goods:

Free goods are the extra merchandise offered to middlemen who buy a specific
amount of a product.
Companies also offer push money and specialty advertising items to the
middlemen.

We are a dynamic team of Professionals

Finaxo solutions is the Highly Experienced in Fastag services pan india

Page 13
We are a smart, driven and eclectic group of techies, financial analysts, bankers and
entrepreneurs who believe that finance and technology is a match made in heaven.
With the help of our young, energetic and diverse team, we hope to make a
sustainable impact in the Indian financial system by enhancing businesses and making
life easier for the common man

 Customer Satisfaction
 Training & Support
 Legal Documentations & Agreements
 Financial Advising

FASTag is a simple to use, reloadable tag which enables automatic deduction of toll
charges and lets you pass through the toll plaza without stopping for the cash
transaction. FASTag is linked to a prepaid account from which the applicable toll
amount is deducted. The tag employs Radio-frequency Identification (RFID)
technology and is affixed on the vehicle's windscreen after the tag account is active.
FASTag is a perfect solution for a hassle free trip on national highways. FASTag is
presently operational at 500+ toll plazas across national and state highways. More toll
plazas will be brought under the FASTag program in the future. You can get your
FASTag from any of Axis Bank’s 4000+ branches, or apply online through
Finaxosolutions App and have it delivered to you.
FASTag is Promoted by MORTH (Ministry of Road Transport and Highways), NHAI
(National Highways Authority of India), IHMCL (Indian Highways Management
Company Limited) and NPCI National Payments Corporation of India).

Insurance

Insurance is a contract that transfers the risk of financial loss from an individual or
business to an insurance company. The company collects small amounts of money
from its clients and pools that money together to pay for losses. Insurance is divided
into two major categories: Property and Casualty insurance (P&C)

Finaxo Solutions helps you understand the various benefits of life insurance for you,
your family, wealth creation, protection, retirement and savings. Find out how you
can make the most of every plan.

Page 14
Credit Cards

Credit Cards can be a blessing for those days when you find yourself strapped for
cash. With digital payments and cashless becoming increasingly popular, a Credit
Card is now more a necessity than a convenience. Used well, a credit card is a secure
and flexible way to pay and can be a good way to spread the cost of major purchases.
But if you only make minimum payments or run up a bill you can’t pay back, credit
cards can be costly.

Loans

Page 15
A loan is money, property, or other material goods given to another party in exchange
for future repayment of the loan value or principal amount, along with interest or
finance charges. A loan may be for a specific, one-time amount, or it can be available
as an open-ended line of credit up to a specified limit.

811 for Everyone

 Kotak 811 is a new age bank account offered by Kotak Mahindra Bank. You can
open a Kotak 811 account by downloading the Kotak Mobile Banking App or by
visiting www.kotak.com and registering using your Aadhaar number (only for
customer willing to open account for receiving DBT & willing to use Aadhaar no.),
PAN and other basic details. You can set up a mobile banking PIN and start using
your account immediately.

Features of the 811 Digital Bank Accounts

Welcome to the future of mobile banking! The Kotak 811 bank account packages the
entire digital banking ecosystem into your smartphone

Page 16
Discount Vouchers

Finaxo Solutions aims on assisting the brands & manufacturers to retain their
customers by giving them customized and scalable marketing tool to retain the
existing customers and engage new customers by adding more value to their products
with the Help of Discount Vouchers.

Discount codes, also known as voucher codes, promo codes, promotional codes, e-

coupons, e-vouchers, and e-deals are simply codes, made up of a series of letters
and/or numbers, which can be entered at the checkout of many online retailers and
wholesalers to claim money off the price of goods or services.

Page 17
Why You Choose Finaxo Solutions for Fastag & Other Consulting
Service.

Manage your FASTag tension-free! FINAXO SOLUTIONS gives you, the FASTag
owner, the power to manage your FASTag Prepaid Account through your smart
phone. Users can purchase FASTag from their Prepaid Wallet or bank account. You
will now be the real BOSS of your Prepaid FASTag Account.

We are Commitment to Quality & Customizes Solutions

We comply with industry best practices and continually improve the effectiveness of
our quality management system, delivering customized solutions to our clients ...

Higher Levels of Customer Satisfaction

Finaxo solutions gives 100% all levels of Customer Satisfaction. It's obvious that
Our satisfied customers will come back and likely to spend more money, which is
good for business and will become loyal customers for Finaxo Solutions in the
future.

Training and Development

Our Company Provide Higher Level of Training & Development to Our Channel
Partner Pan India.Training and development implies a program in which specific
knowledge, skills and abilities are imparted to the Channel Partner

FASTag is an electronic toll collection system in India, operated by the National

Highway Authority of India (NHAI).[1][2] It employs Radio Frequency Identification
(RFID) technology for making toll payments directly from the prepaid or savings
account linked to it or directly toll owner. It is affixed on the windscreen of the
vehicle and enables to drive through toll plazas without stopping for transactions. The
tag can be purchased from official Tag issuers or participating Banks[3] and if it is
linked to a prepaid account, then recharging or top-up can be as per requirement.[4] As
per NHAI, FASTag has unlimited validity. 7.5% cashback offers were also provided
to promote the use of FASTag. Dedicated Lanes at some Toll plazas have been built
for FASTag.

Page 18
In January 2019, state-run oil marketing companies IOC, BPCL and HPCL have
signed MoUs enabling the use of FASTag to make purchases at petrol pumps.[5]

As of September 2019, FASTag lanes are available on over 500 national and state
highways and over 54.6 lakh (5.46 million) cars are enabled with FASTag.[6] Starting
1 January 2021, FASTag was to be mandatory for all vehicles but later the date was
postponed to 15 February 2021.[7]

Timeline

Electronic Toll Lanes on the Mumbai Pune Expressway.


The system was initially set up as a pilot project in 2014 on the stretch of the
Golden Quadrilateral between Ahmedabad and Mumbai.

The system was implemented on the Delhi - Mumbai arm of the Quadrilateral
on 4 November 2014.[8]

In July 2015, toll plazas on the Chennai - Bangalore stretch of the Golden
Quadrilateral started accepting FASTag payments.[9]

By April 2016, FASTag was rolled out to 247 toll plazas on national
highways across India, representing 70% of all toll plazas in the country at the
time.[10]

By 23 November 2016, 347 fee plazas out of 366 on national highways across
the country accept FASTag payments.[11]

On 1 October 2017, the NHAI launched a FASTag lane in all 370 toll plazas
under its ambit.[12]

On 8 November 2017, it was followed up by making FASTag mandatory on
all new vehicles sold in India after December 2017.[13]

On 19 October 2019, it was announced that FASTag will be mandatory on all
National Highways from 1 December 2019 and non-FASTag users will be
charged double the toll.[14]

Page 19
 
During November, Hyderabad airport launches FASTag Car Park facility.[15]
[16]


On 15 December 2019, FASTag became mandatory throughout India.[17]

600+ Toll Plazas are now connected with FASTag. Many more are in queue to
connect very soon.

On 1 January 2021, FASTAG was made mandatory at every toll plaza in the
country.[18]

Business Promotion Tools

Companies spend huge amount on promotions focused on industrial consumers.

The major business promotion tools are as follows;

 Trade Shows and Conventions.

 Sales Contests.

Clearly, sales promotions play an important role in the total promotion mix. To use it
well, the marketer must define the Sales & Marketing objectives, select the best tools,
design the Sales & Marketing program, pretest and implement the program and
evaluate its results.

Page 20
 Overall Economic Scenario

1. The Indian market has been enormous with a large base.

2. Levels of affluence are high- with the number of individuals in the “high: income
demographic group doubling each year, according to NCAER statistics.

3. The actual “disposable” income at the disposal of the affluent Indian is as high as
three to five times higher as the official statistics, on account of the very large
proportion of unaccounted (“black”) money income.

4. The market has, due to exposure to overseas products and lifestyles, displayed the
willingness and ability to purchase overseas brands and products at high prices.

5. Customs duties and tariffs have been drastically reduced, in keeping with
government policy to open up the economy – a policy which has stayed constant
despite changes in government. All the products in the INDEX product range are
now permitted for import into India under OGL or the Open General License,
which implies that no special import license is required for import.

6. Despite the cut in duties, the rate of customs duties is fairly substantial which
makes the prices of products higher in India. There is a huge demand for furniture,

Page 21
 hardware and fittings, DIY equipment, lighting and consumer non-durable and
appliances.

7. While the Indian middle class still does not have as high a rate of obsolescence as
the US, and tend to use their FastTagfor several years before changing or
upgrading, the actual size of this segment makes investment in this market more
than worthwhile. The affluent classes however, do have high rate of obsolescence
of interior decoration products and redecorate constantly.

8. All the above factors put together make manufacturers and retailers of a wide
range of consumer durables. Several overseas companies have already entered the
market and have been extremely well received by the market.

Page 22
 The Emerging Trend

Though technology has made inroads in the industry with increasing stress on the
use of machines, overall scenario reveals that almost 80% of the products supplied in
local markets by indigenous manufacturers are labor intensive and handmade.

Residential or household FastTagaccounts for over 60% of the overall domestic

and leading manufacturers have begun to realize the necessity of proper distribution
system in this area.

Among other sectors where the demand is spiraling upwards is office furniture.
Growth of IT an IT- enabled sector such as BPO’s has created a huge demand in
metros and Class II cities all over India. The old economy businesses are also
undergoing a makeover and this is reflected through changing looks of the offices.

Metal and plastic FastTag production is gaining wider prominence but wood still
remains to be the most favored medium.

Page 23
 Company profile

Finaxo solutions is the Highly Experienced in Fastag services pan india

We are a smart, driven and eclectic group of techies, financial analysts, bankers and
entrepreneurs who believe that finance and technology is a match made in heaven.
With the help of our young, energetic and diverse team, we hope to make a
sustainable impact in the Indian financial system by enhancing businesses and making
life easier for the common man

 Customer Satisfaction
 Training & Support
 Legal Documentations & Agreements
 Financial Advising

Page 24
FASTag is a simple to use, reloadable tag which enables automatic deduction of toll
charges and lets you pass through the toll plaza without stopping for the cash
transaction. FASTag is linked to a prepaid account from which the applicable toll
amount is deducted. The tag employs Radio-frequency Identification (RFID)
technology and is affixed on the vehicle's windscreen after the tag account is active.
FASTag is a perfect solution for a hassle free trip on national highways. FASTag is
presently operational at 500+ toll plazas across national and state highways. More toll
plazas will be brought under the FASTag program in the future. You can get your
FASTag from any of Axis Bank’s 4000+ branches, or apply online through
Finaxosolutions App and have it delivered to you.
FASTag is Promoted by MORTH (Ministry of Road Transport and Highways), NHAI
(National Highways Authority of India), IHMCL (Indian Highways Management
Company Limited) and NPCI National Payments Corporation of India).

Insurance

Insurance is a contract that transfers the risk of financial loss from an individual or
business to an insurance company. The company collects small amounts of money
from its clients and pools that money together to pay for losses. Insurance is divided
into two major categories: Property and Casualty insurance (P&C)

Finaxo Solutions helps you understand the various benefits of life insurance for you,
your family, wealth creation, protection, retirement and savings. Find out how you
can make the most of every plan.

Credit Cards

 Credit Cards can be a blessing for those days when you find yourself strapped for
cash. With digital payments and cashless becoming increasingly popular, a Credit
Card is now more a necessity than a convenience. Used well, a credit card is a secure
and flexible way to pay and can be a good way to spread the cost of major purchases.
But if you only make minimum payments or run up a bill you can’t pay back, credit
cards can be costly.

Page 25
Loans

A loan is money, property, or other material goods given to another party in exchange
for future repayment of the loan value or principal amount, along with interest or
finance charges. A loan may be for a specific, one-time amount, or it can be available
as an open-ended line of credit up to a specified limit.

811 for Everyone

 Kotak 811 is a new age bank account offered by Kotak Mahindra Bank. You can
open a Kotak 811 account by downloading the Kotak Mobile Banking App or by
visiting www.kotak.com and registering using your Aadhaar number (only for
customer willing to open account for receiving DBT & willing to use Aadhaar no.),
PAN and other basic details. You can set up a mobile banking PIN and start using
your account immediately.

Features of the 811 Digital Bank Accounts

Welcome to the future of mobile banking! The Kotak 811 bank account packages the
entire digital banking ecosystem into your smartphone

Discount Vouchers

Finaxo Solutions aims on assisting the brands & manufacturers to retain their
customers by giving them customized and scalable marketing tool to retain the
existing customers and engage new customers by adding more value to their products
with the Help of Discount Vouchers.

Discount codes, also known as voucher codes, promo codes, promotional codes, e-

coupons, e-vouchers, and e-deals are simply codes, made up of a series of letters
and/or numbers, which can be entered at the checkout of many online retailers and
wholesalers to claim money off the price of goods or services.

Page 26
Why You Choose Finaxo Solutions for Fastag & Other Consulting
Service.

Manage your FASTag tension-free! FINAXO SOLUTIONS gives you, the FASTag
owner, the power to manage your FASTag Prepaid Account through your smart
phone. Users can purchase FASTag from their Prepaid Wallet or bank account. You
will now be the real BOSS of your Prepaid FASTag Account.

We are Commitment to Quality & Customizes Solutions

We comply with industry best practices and continually improve the effectiveness of
our quality management system, delivering customized solutions to our clients ...

Higher Levels of Customer Satisfaction

Finaxo solutions gives 100% all levels of Customer Satisfaction. It's obvious that
Our satisfied customers will come back and likely to spend more money, which is
good for business and will become loyal customers for Finaxo Solutions in the
future.

Training and Development

Our Company Provide Higher Level of Training & Development to Our Channel
Partner Pan India.Training and development implies a program in which specific
knowledge, skills and abilities are imparted to the Channel Partner

FASTag is an electronic toll collection system in India, operated by the National

Highway Authority of India (NHAI).[1][2] It employs Radio Frequency Identification
(RFID) technology for making toll payments directly from the prepaid or savings
account linked to it or directly toll owner. It is affixed on the windscreen of the
vehicle and enables to drive through toll plazas without stopping for transactions. The
tag can be purchased from official Tag issuers or participating Banks[3] and if it is
linked to a prepaid account, then recharging or top-up can be as per requirement.[4] As
per NHAI, FASTag has unlimited validity. 7.5% cashback offers were also provided
to promote the use of FASTag. Dedicated Lanes at some Toll plazas have been built
for FASTag.

Page 27
In January 2019, state-run oil marketing companies IOC, BPCL and HPCL have
signed MoUs enabling the use of FASTag to make purchases at petrol pumps.[5]

As of September 2019, FASTag lanes are available on over 500 national and state
highways and over 54.6 lakh (5.46 million) cars are enabled with FASTag.[6] Starting
1 January 2021, FASTag was to be mandatory for all vehicles but later the date was
postponed to 15 February 2021.[7]

Timeline

Electronic Toll Lanes on the Mumbai Pune Expressway.


The system was initially set up as a pilot project in 2014 on the stretch of the
Golden Quadrilateral between Ahmedabad and Mumbai.

The system was implemented on the Delhi - Mumbai arm of the Quadrilateral
on 4 November 2014.[8]

In July 2015, toll plazas on the Chennai - Bangalore stretch of the Golden
Quadrilateral started accepting FASTag payments.[9]

By April 2016, FASTag was rolled out to 247 toll plazas on national
highways across India, representing 70% of all toll plazas in the country at the
time.[10]

By 23 November 2016, 347 fee plazas out of 366 on national highways across
the country accept FASTag payments.[11]

On 1 October 2017, the NHAI launched a FASTag lane in all 370 toll plazas
under its ambit.[12]

On 8 November 2017, it was followed up by making FASTag mandatory on
all new vehicles sold in India after December 2017.[13]

On 19 October 2019, it was announced that FASTag will be mandatory on all
National Highways from 1 December 2019 and non-FASTag users will be
charged double the toll.[14]

Page 28

During November, Hyderabad airport launches FASTag Car Park facility.[15]
[16]


On 15 December 2019, FASTag became mandatory throughout India.[17]

600+ Toll Plazas are now connected with FASTag. Many more are in queue to
connect very soon.

On 1 January 2021, FASTAG was made mandatory at every toll plaza in the
country.[18]

Page 29
 CHAPTER - 2

REASEARCH DESIGN

Title of the Study

Page 30
 Statement of the Problem

The project is mainly undertaken to study the sales promotional strategies at

Finaxo Solutions India . The intention of the study is to find what attributes
needs further improvement in order to make the product more preferable in the
market.

The main aim of the study is to uncover new relationship and identify any problem
that may arise in future. Hence, exploratory research is been conducted. Exploratory
research as its name implies endeavors of exploring the possibility of doing research
on a subject where due to lack of existing knowledge framing and testing the
hypotheses is difficult. In today’s crowed marketplace where products and services
are touting themselves to be the best, it is vital to stand out in the crowd. The study
was undertaken to explore how a company or brand can ensure a store that stands out
and not get lost in the crowd.

Objectives of the Study

1. To study the various promotional strategy adopted by Finaxo Solutions India .

Page 31
2. To find out the footage of Finaxo Solutions India . With respect to other players in
the market.

3. To observe and understand the practice followed by Finaxo Solutions India .

4. To find out the communication linkages and de-linkages in the organization.

5. To study the activities of each and every department of the organization.

Scope of the Study

This project was undertaken for a specific period in Finaxo Solutions India ., New
BEL Road, RMV II Stage; Bangalore. It is an exercise that is well planned into the
curriculum giving the researcher a valuable opportunity to understand the working
dynamics of the organization and to experiment and exhibit the recently acquired
management and administration skills.

The prospect of the FastTag sector in India seems positive. The Indian FastTag has
awakened to interesting times! The last ten years have seen changes in the shop
windows of FastTagre tailers. Consumers today no longer look for mere practicality
in furniture, instead, they look for theme furnishing, i.e. lifestyle living. Realizing the
tremendous market potential and to make the most of it, the study was undertaken.

Limitations of the Study

Every study is bound by limitations and as such this is no exceptions.

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 1. “Change is Constant” rule of nature. Hence, the study undertaken may not
hold good for longer duration.

2. The study was conducted under the assumption that the information given by
the respondents is authentic.

3. The analysis and suggestion are given only with respect to marketing aspects
as technical suggestion with respect to the product could not be given.

4. Confidential matters were not disclosed by the company.

5. There were time constraints.

The researcher has done the research in the following manner;

a) Type of the research undertaken is analytical.
b) Technique used is random sampling.
c) Sample size taken is 30.
d) Sources of data used include both primary as well as secondary data.
e) Tool used for the research is questionnaire.
f) Plan of analysis are tables and graphs.

Data Collection Methods

In this study, the foremost data collection instrument used is the questionnaire
method. The questionnaire has been designed with both open ended and closed ended
questions. Apart from this, the research instrument consists of primary and secondary
data collected for the study.

Primary Data:
Here first hand information is obtained by distributing printed questionnaire to the
marketing executives of the company. Data was also obtained from the observation

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and interview technique adopted by the researcher. Moreover, information was
disseminated by the departmental heads.

Secondary Data:
Here the information is obtained from the brochure of Ferror Dek, books, websites,
newsletter, journals, magazines, newspapers, etc.

SOURCES OF DATA

Primary Data Secondary Data

Questionnaire Newsletter
Observation Journals
Interviews Magazines
Visits to other Newspapers
Companies Information Books
Through Departmental heads Websites

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 DATA ANALYSIS AND INTERPRETATION

Table No. 1

Table representing the sex of the marketing executives

Sex No. of Respondents Percentage

Male 6 20%
Female 24 80%
Total 30 100%

Analysis

 80% of the respondents are male.

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  20% of the respondents are female.

Interpretation

 Majority of the marketing executive are male.

Graph 1

Sex of the Marketing Executives

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 Table No. 2

Table representing the pricing of products

Prices No. of Respondents Percentage

High ─ ─
Reasonable 16 54%
Competitive 14 46%
Low ─ ─
Total 30 100%

Analysis

 54% of the respondents are of the opinion that the products are
reasonable.
 46% of the respondents are of the opinion that the prices of the products
are competitive.

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  None of the respondents feel that the prices of the products are either high
or low.

Interpretation

 Majority of the respondents opine that the prices of the products are
reasonable.
 The prices of the products are reasonable though they are competitive.

Graph 2

Pricing of Products

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Page 39
 Table No. 4

Table representing the competitor’s strength

Strength No. of Respondents Percentage

Quality ─ ─
Brand Image 24 80
Pricing ─ ─
Promotional Activities 6 20
Total 30 100

Analysis

 80% of the respondents are of the opinion that the competitor’s strength is
brand image.
 20% of the respondents opine that promotional activities are the strength
of the competitors.

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  None of the respondents feel that quality and pricing are the strength of
the competitors.

Interpretation

 Majority of the respondents opines that brand image is the strength of the
competitors.

Graph 4

The Competitor’s Strength

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 Table No. 5

Table representing the quality of the products of

Ferror dek with respect to other competitors

Rating No. of Respondents Percentage

Good 17 57
Very good 13 43
Fair ─ ─
Poor ─ ─
Total 30 100

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Analysis

 Majority of the respondents i.e. 57% are of the opinion that the products
are of good quality with respect to other competitors.
 43% of the respondents opine that the products are of very good quality
with respect to the other competitors.
 None of the respondents are of the opinion that the products are of fair or
poor quality with respect to other competitors.

Interpretation

 Majority of the respondents is of the opinion that the products are of good
quality and is at par with other competitors having brand names.

Graph 6

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Kinds of products sold more per month

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 Table No. 7

Table representing the merits of the products of

Ferror dek that differentiates it from others

Merits No. of Respondents Percentage

Reasonable price 10 33
Quality 7 24
Customized product 10 33
Finishing 3 10
Total 30 100

Analysis

 33% of the respondents are of the opinion that reasonable pricing and a
customized product differentiates the products of Ferror dek from that of
others.
 24% of the respondents are of the opinion that quality is the differentiating
factor.
 10% of the respondents are of the opinion that finishing is the
differentiating factor.

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Interpretation

 Reasonable pricing and customized products differentiates the products of

Feror dek from that of others.
 In fact, all the merits such as reasonable pricing, customized products,
quality and finishing contributes in differentiating the products from
others.

Graph 7

Merits that differentiates the products of Finaxo

Solutions India .

12

10 10
10

8
7
Reasonable price
6 Quality
Customized products
4 Finishing
3

0
No. of Respondents

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 Table No. 8

Table representing the factors which play a major

role in demand generation

Factors Ratings

5 4 3 2 1
Price of the product 4 3 0 1 1

Awareness about the product 3 1 0 4 1

Delivery of the product ordered 1 0 5 1 2
Presentation about the product 0 2 0 3 4
Design of the product 1 3 4 0 1

5 - Very important, 4 - Important, 3 - Makes little difference,

2 - Not important, 1 – Does not make any difference.

Analysis

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  Price of the product gets the maximum of 5 rating.
 Design of the product and the price of the product get the maximum of 4
rating.
 Delivery of the product ordered gets the maximum of 3 ratings.
 Awareness about the product gets the maximum of 2 rating.
 Presentation about the product gets the maximum of 1 rating.

Interpretation

 Price of the product plays a major role in the demand generation.

 Design of the product plays an important role in demand generation.
 Delivery time of the product ordered can make a little difference in
demand generation.

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 Graph 8

Factors playing a major role in demand generation

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6

5
5

4 4 4
4

Price of the product

3 3 3 3 Awareness about the product
3
Delivery of the product ordered
Presentation about the product
2 2
2 Design of the product

1 1 1 1 1
1

00 0 0 0 0
0
1 2 3 4 5

Table No. 9

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 Table representing the promotion of the products of
Finaxo Solutions India .

Promotions No. of Respondents Percentage

Paper insertion 7 24
Telemarketing 10 33
Display stalls ─ ─
Participating in exhibition 10 33
Direct mail ─ ─
Presentations ─ ─
Showrooms 3 10
Total 30 100

Analysis

 24% of the respondents are of the opinion that paper insertions are used as
promotion of the product.
 33% of the respondents opine that telemarketing is the means of
promotion of the products.
 33% of the respondents feel that participating in exhibition has promoted
the product.
 10% of the respondents are of the opinion that showrooms are used as
promotion of the product.

Interpretation

 The company adopts a variety of promotional methods such as paper

insertion, telemarketing, display stalls, participating in exhibition, direct
mail, presentations and showrooms.

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 Graph 9

Methods of promoting the products

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 Table No. 10

Table representing the discount if given on repeat

purchase

Discounts Given No. of Respondents Percentage

Yes 27 90
No 3 10
Total 30 100

Analysis

 90% of the respondents are of the opinion that the discount is given on
repeat purchase.
 10% of the respondents are of the opinion that discounts are not given on
repeat purchase.

Interpretation

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 Majority of the respondents is of the opinion that discounts are given on
repeat purchase.

Graph 10

Discounts given on repeat purchase

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Page 55
 Table No. 11

Table representing the percentage of discounts given

on repeat purchase

Percentage of Discount No. of Respondent Percentage

2 – 5% 20 66
6 – 10% 5 17
11 – 15% ─ ─
16 – 20% ─ ─
None 5 17
Total 30 100

Analysis

 66% of the respondents are of the opinion that 2-5% discount is given on
repeat purchase.
 17% of the respondents opine that 6-10% of discount is given on repeat
purchase.
 17% of the respondents are of the opinion that no discount is given on
repeat purchase.

Interpretation

 Majority of the respondents are of the opinion that 2-5% discount is given
on repeat purchase.

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  The company does not adhere to any stringent norm while giving discount
on repeat purchase as there is difference of opinion among the
respondents.

Graph 11

Percentage of discount given on repeat purchase

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 Table No. 12

Table representing the way of marketing of the

products

Way No. of Respondents Percentage

Direct marketing 30 100
(Showroom)
Retailers ─ ─
Dealers ─ ─
All of the above ─ ─
Total 30 100

Analysis

 100% of the respondents are of the opinion that the marketing of products
are through direct marketing.

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Interpretation

 The products are marketed through direct marketing and dealers and
retailers are not involved in the marketing process.

Graph 12

The way of marketing of the products

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35
30
30

25

20 Direct marketing
Retailers
15
Dealers

10 All of the above

5
0 0 0
0
No. of Respondents

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 Table No. 13

Table representing the target consumers

Target No. of Respondents Percentage

Upper class 27 90
Middle class 3 10
Lower class ─ ─
Total 30 100%

Analysis

 90% the target customers are from upper class.

 10% of the target customers are from middle class.

Interpretation

 The target consumers are the upper class and the middle class.

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 Graph 13

The target consumers

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 Table No. 14

Table representing the kind of incentives received by

the employee

Kind of incentives No. of Respondents Percentage

Commission ─ ─
Schemes ─ ─
Free gifts ─ ─
Recognition 17 57
Nothing at present 13 43
Total 30 100

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Analysis

 100% of the respondents are of the opinion that no incentives are given at
present.

Interpretation

 No incentives are given to the marketing personnel at present.

Graph 14

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Kind of incentives received by the marketing
personnel

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 CHAPTER – 5

SUMMARY OF FINDINGS AND CONCLISION

A Summary of Findings:

The finding can be grouped together into two broad categories such as;

Specific Findings:

 This is pertaining to the objectives of the study.

General Findings:

 This is with regard to the market dynamics and visits made by the
researcher to companies having almost similar products profile.

Specific Findings:
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1. The company adopts a variety of promotional methods such as paper
insertion, telemarketing, display stalls, participating in exhibitions, direct
mail, presentations and showrooms.

2. Though brand names like Godrej and Trident Inter Wood came into the
picture but the fact reveals that there is no dominant player in the market. So
every player is vying with each other to capture a larger pie in the markets.

3. Transparency is maintained at the levels of the organization.

4. The products are marketed through direct marketing (showroom) and dealers
are not involved in the marketing process so far.

5. The activities carried out by each and every department of the organization is
systematic.

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 CHAPTER – 6

RECOMMENDATIONS AND SUGGESTIONS

This chapter lists the various recommendations and suggestions with respect to the
findings and in congruence with the objectives of the study.

Recommendations:

1. It’s overwhelming to find out that the organization works in a systematic

manner. A blend of co-ordination will definitely enhance the performance of
the company.

2. Quality clubbed with reasonable pricing and quick delivery made the product
of the company stand apart. The marketing campaign should focus on this
aspect and made according to its line.

3. The strength of the company is its customized products. This very fact must be
highlighted in the marketing campaign.

4. As the products are reasonably priced, the ambit of the target consumers
should be stretched so that middle class consumers also fit into it.

Suggestions:

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 1. The construction industry is in boom. In order to tap the potential market, the
Company can advertise in a magazine named ‘Builders Grid’. This will help in
showcasing the products of the magazine. This can add an extra spice to sales.

2. In order to be extra ordinary, the Company has to walk the extra mile. A
method named ‘Experimental Marketing’ can be adopted by the Company
wherein the prospective consumers can be invited to visit the showroom and
touch and feel the products.

3. Since the competition is intense, so there should be some value addition so as

to make the Company stand apart in the market. One such way is to improvise
the customer service.

4. Consumer is the king in the market. This fact should be deeply rooted in the
minds of the employees. The Company can adopt some ways to listen to the
customer’s feedback which should be noted in writing so that it will help in
continual improvement and make the company to be in the right track always.
Moreover, a sense of involvement will be felt by the customers whish can give
the company a cutting edge.

APPENDICES AND ANNEXURES

A copy of the questionnaire, some eye sizzlers showcasing the products of the
company and paper insertion are enclosed herewith.

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 QUESTIONNAIRE

1) Name:

2) Address:

3) Designation:

4) Sex:
a) Male
b) Female

5) How are you priced?

a) High
b) Reasonable
c) Competitive
d) Low

6) Who is your major competitor?

7) What is your competitor’s strength? / What makes you ahead of him?

a) Quality
b) Brand image
c) Pricing
d) Promotional activities

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8) With respect to other competitors how do you rate yourself in terms of
quality?
a) Good
b) Very good
c) Fair
d) Poor

9) Which products are sold more per week/per month?

10) What specific merits do you think will differentiate your products from
others?
a) Reasonable price
b) Quality
c) Customized products
d) Finishing

11) How important do you feel that the following factors play a major role in
demand generation on a scale of 1-5?
a) Price of the product
b) Awareness about the product
c) Delivery time of the product ordered
d) Presentation of the product
e) Design of the product

5- Very important
4- Important
3- Makes little differences
2- Not important
1- Does not make any difference

12) How do you promote your products?

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 a) Paper insertion
b) Telemarketing
c) Display stalls
d) Participating in Exhibition
e) Direct mail
f) Presentations
g) Showrooms
h) All of the above

13) A) Do you give any discount on repeat purchase?

a) Yes
b) No
B) If yes how much discount do you give?
a) 2-5%
b) 6-10%
c) 11-15%
d) 16-20%
e) None

14) How are you marketing your products?

a) Direct marketing
b) Retailers
c) Dealers
d) All the above
15) Who are your target consumers?
a) Elite class and upper middle class
b) Middle class
c) Lower middle class
d) Corporate

16) What kind of incentives are you getting?

a) Commission
b) Schemes
c) Free gifts
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d) Recognition
e) Nothing at present

THANK YOU!

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