Key points to familiarize yourself during your SIP

Objective: The primary aim is to empower PGDM students with comprehensive insights and
practical guidance essential for navigating their Summer Internship Program (SIP)
successfully.
By furnishing key points for familiarization, we intend to enhance students' understanding of
industry dynamics, refine their professional acumen and facilitate seamless integration into
their respective internship roles, fostering valuable learning experiences and meaningful
contributions to host organizations.
This proactive approach not only maximizes students' potential for securing desirable
placements but also strengthens the reputation of our institution as a provider of highly
skilled and job-ready management professionals.
Review Process (Weekly Submission)
1. Students are required to submit their weekly reports including answer of the following
questions by a specified deadline and upload on SIP Portal and maintain the hard
copies.
2. Reports should be concise, well-structured, and answers to week wise questions.
3. Students are encouraged to discuss with faculty guide and incorporate the feedback
into subsequent reports and answers to the qestion to enhance their learning
outcomes. (Chat GPT use is prohibited and plagiarism will be discouraged)
4. VIVA Will be taken and faculty guide (20 marks) will be based on Viva and Weekly
Report on question and answers
NOTE: After completion of SIP in Marketing a student should be able to answer the
following concerning his/her SIP company:
To make it easier we have divided it into two areas
A. General Industry related knowledge
B. SIP specific domain knowledge

Week 1-2
 General Industry relevant insights (e.g. FMCG, Market Research, Consumer
Durable etc.)

1. Market and Market Trends: Total value of the market (Rs Value), Turnover of the
company in which you are working, understand current market dynamics, including
emerging trends
2. Industry Jargon: Familiarize yourself with industry-specific terminology to
effectively communicate and engage with professionals in the field.(like HORECA, an
 acronym for Hotel, Restaurant and Catering, represents a significant sector within the
hospitality industry.)
3. Product/Service Knowledge: Acquire a solid understanding of the products or
services offered by the company, their unique selling points and how they position
themselves in the market.
4. Target Audience: Identify the target demographic or audience the company caters to
and comprehend their needs, behaviorsand preferences.

Week 2-3
5. Competitor Analysis: Conduct thorough research on key competitors to discern their
strategies, strengths, weaknesses and market positioning.
6. Industry Challenges: Recognize prevalent challenges and issues facing the industry,
such as technological disruptions, supply chain constraints or shifting consumer
demands.
7. Business Model and Revenue Streams: Students should know how the organization
generates revenue. This includes the various sources of income, such as product sales,
service fees, subscription models, licensing agreements, or advertising revenue.
8. Networking Opportunities: Explore potential networking avenues within the
industry to establish valuable connections and glean insights from experienced
professionals.
9. Industry Outlook: Stay updated on industry forecasts, projections, and anticipated
changes to anticipate future opportunities or challenges impacting your internship
experience and career prospects.

 SIP specific domain knowledge (Week 4 to 8)

A. Retail or Channel Sales (ITC, HUL, Hitachi, Dabur, Haier etc.)

1. Channel Dynamics: Understand the various channels through which products are
distributed to end consumers, including direct sales, wholesalers, retailers, e-
commerce platforms and third-party distributors.
Entire Sales Territory structure (with diagram) of the company (Zone, Area,
Regions, territories and beats of your assigned sales territory), Distribution flow
in terms of Levels (Tier 1, Tier 2 and so on) with Diagram. Criteria for
Distributor selection, Total no Distributors and national Agencies, distributor’s
and retailer’s margin (at least for the product/ segment student is handling), Last
mile distribution strategy of the company (if applicable), Trade Promotion-
various channel partner’s incentive schemes including credit extension policy.
Daily Reporting Format of the sales team (area assigned to the student).
Dealer/Retailers perception feedback about the companies channel policies.
2. Retail Environment: Familiarize yourself with the retail landscape, including
different types of retail formats (e.g., department stores, specialty stores,
supermarkets, online retailers) and their respective advantages, challenges and target
demographics.
3. Consumer Behavior: Gain insights into consumer preferences, shopping habits, and
purchasing decisions within the retail sector. Understand factors influencing buying
behavior such as price sensitivity, brand loyalty, product quality and convenience.
4. Merchandising Strategies: Learn about effective merchandising techniques for
optimizing product placement, shelf space allocation, visual displays, promotions,
pricing strategies to drive sales and enhance the shopping experience.
5. Inventory Management: Acquire knowledge of inventory control methods, demand
forecasting, stock replenishment, and logistics management to ensure efficient
inventory turnover, minimize stockouts and how to avoid overstocking.
6. Sales Techniques: Develop essential sales skills, including prospecting, lead
generation, customer relationship management, negotiation, objection handling, and
closing techniques tailored to different customer segments and sales channels.
7. Channel Partnerships: Understand the importance of building strong relationships
with channel partners, such as distributors, wholesalers, and retailers, to ensure
effective distribution, brand visibility, and market penetration.
8. Retail Technology: Stay updated on emerging retail technologies and digital
innovations reshaping the industry, such as point-of-sale systems, inventory
management software, customer relationship management (CRM) tools and e-
commerce platforms.
9. Performance Metrics: Familiarize yourself with key performance indicators (KPIs)
used to measure sales and retail performance, such as sales revenue, profit margins,
customer acquisition costs, conversion rates, average transaction value and customer
satisfaction scores.

B. Market Research Profile (GMI, MDRI etc.)

1. Research Methodologies: Gain proficiency in various market research
methodologies, including qualitative (e.g., focus groups, interviews, ethnography) and
quantitative (e.g., surveys, experiments, data analysis) research techniques used to
gather insights into consumer behavior, market trends and competitor analysis.
2. Data Collection: Learn about different data collection methods, such as online
surveys, telephone interviews, in-person observations, and secondary data analysis,
and understand their strengths, limitations, and ethical considerations.
3. Data Analysis: Acquire skills in data analysis techniques, including statistical
analysis, data visualization, segmentation analysis, and trend analysis, using software
tools such as SPSS, SAS, R or Excel to derive meaningful insights from research data.
4. Report Writing: Develop proficiency in writing clear, concise, and actionable
research reports, including executive summaries, research findings, data analysis,
conclusions, and recommendations, tailored to the needs of clients and stakeholders.
5. Competitive Analysis: Conduct competitive analysis to assess the strengths,
weaknesses, opportunities, and threats posed by competitors in the market, including
their product offerings, pricing strategies, distribution channels, and marketing tactics.
6. Industry Trends: Stay updated on industry trends, emerging technologies, consumer
preferences, and market developments relevant to the clients or industries being
researched, providing valuable insights for strategic decision-making.
7. Client Management: Develop strong client management skills, including effective
communication, project management, stakeholder engagement, and relationship-
building, to ensure client satisfaction and successful project delivery.

C. Financial Product Sales (Bajaj Capital., Tax2Win etc.)

1. Product Knowledge: Gain a comprehensive understanding of the financial products
being offered, including insurance policies, mutual funds, retirement plans, loans,
credit cards, and investment instruments such as stocks, bonds and derivatives.
2. Regulatory Framework: Familiarize yourself with the regulatory environment
governing the financial services industry, including laws, regulations, and compliance
standards set by regulatory bodies such as SEBI (Securities and Exchange Board of
India), IRDAI (Insurance Regulatory and Development Authority of India) and RBI
(Reserve Bank of India).
3. Customer Needs Assessment: Develop skills in conducting thorough needs
assessments to understand clients' financial goals, risk tolerance, investment
preferences, and current financial situation, enabling you to recommend suitable
financial products tailored to their individual needs and objectives.
4. Relationship Building: Learn effective techniques for building and maintaining
strong relationships with clients, including active listening, empathy, trust-building,
and providing personalized financial advice and solutions based on their unique
circumstances and objectives.
5. Sales Techniques: Acquire sales skills and techniques specific to financial product
selling, such as prospecting, lead generation, objection handling, closing techniques,
and follow-up strategies to effectively convert leads into sales and achieve sales
targets.
6. Compliance and Ethics: Understand the importance of ethical conduct and
compliance with industry regulations in financial product selling, including
transparency in pricing, disclosure of fees and charges, suitability assessments, and
adherence to KYC (Know Your Customer) and AML (Anti-Money Laundering)
guidelines.
7. Risk Management: Develop an understanding of risk management principles and
techniques to assess and mitigate risks associated with different financial products,
including market risk, credit risk, liquidity risk, and operational risk, ensuring the
protection of clients' investments and financial interests.
8. Market Analysis: Stay informed about market trends, economic indicators, interest
rate movements, and geopolitical developments that may impact financial markets
and influence investment decisions, enabling you to provide timely and informed
advice to clients.
9. Continuous Learning: Recognize the importance of continuous learning and
professional development in the financial services industry, including staying updated
on changes in regulations, product innovations, industry best practices, and
advancements in financial technology (fintech).
10. Client Education: Educate clients about financial literacy, investment principles, risk
management strategies, and the benefits and risks associated with different financial
products, empowering them to make informed decisions and achieve their long-term
financial goals.

Above all, it's crucial to maintain patience throughout your journey.