`TABLE OF CONTENTS S. NO. TOPIC Pg No. 1. Executive Summary 5-6 2. Brief History and Introduction 7-11 Of the company 3. Plan of Research 12-36 4. Research Methodology 37-44 5. Data collection & Data 45-57 Analysis 6.
Conclusion 58 7. Suggestions 59 8. Bibliography 60 9. Annexure 61-63 EXECUTIVE SUMMARY The objective of the project was to find out the different sales promotional strategies in software industry. Software industry got the research carried out to find what the current trends are in the market and what the competitors’ playing.
Also, market share of different player of the software industry was to be found and the recommendations to increase the market share for each individual player of software industry globally were to be given. The purpose of the study is to find out the market potential of different software player compared to other industry. Specifically, the research objectives are to: • Gauge the consumer sentiment on the various sales promotional strategies provided by the various software industry players. • Identify areas of improvement on the various services provided by the industry. Determine the type of promotional strategies needed by the consumers. • Identify the important and attractive attributes in services to retain the existing consumers. • Determine the type of selling parameters most popular with the consumer. • Identify the important characteristics that make the software company attractive to buy their product. • Gather and analyze the future aspirations of the customers with respect to the software. • Rank and evaluate the relative importance the various players’ parameters associated with the software industry.
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For this purpose a primary research was conducted in the region of New Delhi and NCR regions. The target consumers were various educational institutes, CAs and accountants. The total field work was done for 15 days in which a total sample size of 100 consumers was covered. For the purpose of this research it was absolutely imperative for us to find out what the consumers want from their industry. It was also necessary to find out the consumer’s profile, i. e. his age, monthly income, occupation and sex.
This required us to get a detailed questionnaire filled by the concerned person. All the analysis in the report is drawn out of these questionnaires. For carrying out the competitor analysis further help was taken from industry websites and journals. This research will provide software industry with information like the current market share of different players and also a detailed analysis of the services offered by other players and what are the most important criteria for selecting a particular software industry player.
The software industry can also get data on prospective customers by designing its product offerings and marketing strategy in a way so as to attract more clients in the near future. BRIEF HISTORY& INTRODUCTION OF THE COMPANY WEBTEL ELECTROSOFT PVT. LTD is a company engaged in providing complete software and knowledge process outsourcing solutions and a host of other IT enabled services. Webtel Electrosoft Private Limited, a Company incorporated in the year 2000 is engaged in providing customized software solutions worldwide.
In a short p of time, the company has been able to make a mark for itself by catering to the software needs of the professionals and corporates. The service edge of the Company lies in its accuracy, reliability, timeliness, confidentiality, cost effectiveness, continuity, and customer support and resource optimization. This has resulted in a satisfied customer base of over 15000 users for our software products. Our software packages have been widely appreciated and recommended by reputed Companies and CA firms.
Mission and vision of the company is to achieve competitive advantage by rapidly delivering cost-effective, advanced, high-end technology enabled value-added business solutions and Dedicated towards Making IT a way of Life. Product of the company WEB-E-TDS – Complete TDS/TCS Management & E-Filing Software WEB-E-TAX - A Complete Software Solution for Preparation & Filing of ITR Forms 1, 2, 3, 4, 5, 6 & 8 DIGITAL SIGNATURE CERTIFICATES - Licensed LRA of MTNL TRUSTLINE WEB-E-SECURE - A Complete Software Solution for Data Security and Auto Back Up.
WEB-D-VAT - A Complete Software Solution for D-VAT Management and E-Filing E-TDS |DISTINCTIVE FEATURES | | | |Generation of e-TDS Quarterly Returns through User Friendly |Preparation of Form 24Q, 26Q, 27Q, 27EQ & 27A for paper filing or own | |Software. |use. | |Automatic Generation of TDS certificates in Form 16, 12BA, 16AA & |Easy to fill familiar data entry module which assists error free data | |16A. punching. | |No need to create masters for Employees and Parties every Quarter. |Import of Masters from other softwares (subject to certain conditions). | |Import of data from text/ fvu file generated from any software. |Automatic calculation of Income Tax, TDS etc. | |Auto fill facility for data entry of breakup of monthly salary. |Automatic bifurcation of entries for which TDS deposited in 2 or more | | |installments. | |Duplication of Non-Salary Payments for repetitive entries. Facility to go to Next/ Previous Record to check and correct entries. | |Error Search & Automatic Validation as per NSDL File Validation |Online Quarterly. Return / Challan status | |Utility. | | |Excellent reports like Party wise and Section wise Monthly TDS |Generation of OLTAS Challan No. 281 and its party wise break-up. | |report. | | |Report of Defaults in TDS Deposit & Issue of Certificates. Export of various Reports to Excel for analysis. | |Online e-payment facility |Facility of Backup & Restoration of data. | |Facility for Live Updates | | E-TAX It is MANDATORY for ALL Cos. and Firms with Tax Audit to file IT Returns electronically |SALIENT FEATURES | | |[pic] | |Generation of Form 1, 2, 3, 4, 5, 6 & 8 in Manual & Electronic format. | | | |[pic] | |Paper Return of Income & FBT for all forms. | | |[pic] | |Computation of Income Tax. | | | |[pic] | |Computation of Quarter wise Fringe Benefit Tax (FBT). | | | |[pic] | |Calculation of Minimum Alternative Tax (MAT). | | |[pic] | |Calculation of Interest u/s 234A, 234B and 234C. | | | |[pic] | |Preparation of Schedule VI. Balance Sheet & Profit & Loss A/c. | | | |[pic] | |Printing of Challans for Income Tax & FBT. | | |[pic] | |One Time Creation of Masters. | | | |[pic] | |Reports of Returns Filed, Returns Pending, List of Assesses, Details of Assesses etc. | | |[pic] | |Facility to import Balance Sheet / Profit & Loss Account from Excel / Tally | | | | | | | |OPERATING UTILITIES | | | | |[pic] | |Upload Returns electronically as per prescribed format. | | | |[pic] | |Upload Single or Multiple returns. | | | |[pic] | |Backup & Restoration of Data. | | | |[pic] | |LIVE UPDATES. | | WEB-E-SECURE |SALIENT FEATURES | | | |[pic] | |Auto Backup of any file/folder/program in the same computer or on any other computer on LAN. | | | |[pic] | |Automatic Login to websites /E-Mail Accounts without the need to remember/enter user name/password. | | |[pic] | |Automatic backup of Excel, PowerPoint, PDF Files. | | | |[pic] | |Automatic Backup of data of different programs e. g. Web-e-TDS , Web-e-TAX, Tally & Busy etc. | | | |[pic] | |Facility to hide hard-disk drives for personal/confidential data. | | | |[pic] | |Secure login to avoid unauthorized access to computer. | | |[pic] | |Block particular Websites/Restrict Internet Access. | | | |[pic] | |Automatic logout after specified time to prevent misuse. | | | |[pic] | |Automatic Encryption of confidential/important files/folders to prevent misuse | | | WEB-D-VAT SALIENT FEATURES | | | |[pic] | |No need to go to Department’s website for Filling Return Online. | | | |[pic] | |Fill D VAT Return Offline. Submit Returns through Web-D-VAT Software. | | | |[pic] | |No need to enter Username and Password on Department’s website. | | |[pic] | |Facility to import data from Tally. | | | |[pic] | |Convenient, Fast and Timely Data entry for multiple clients in Web-D-VAT software | |even when internet or department website is not working. | | | |[pic] | |No need to create Client/Party Masters every time. | | |[pic] | |In-built checks to prevent data entry errors. | | | |[pic] | |Automatic generation of Monthly, Quarterly, Half-Yearly & Yearly returns, both electronic & manual. | | | |[pic] | |Automatic upload of VAT & Central Returns from software. | | | |[pic] | |Automatic generation of forms like DVAT-51, DVAT-55 etc. | | |[pic] | |Generation of Useful Reports like Received/ Pending C, D, E, F forms etc. | | | |[pic] | |Generation of Consolidated Sales & Tax Summary of various tax periods for comparison with accounts. | | | |[pic] | |Efficient and Effective Document Management System to replace manual records. | | |[pic] | |Facility for filing Revised Returns. | | | |[pic] | |Facility for TIN/Dealer Search. | | | |[pic] | |Facility of Backup/Restoration of Data. | | | |[pic] | |Facility of Live Updates. | | | FEW ESTEEMED CUSTOMERS OF THE COMPANY
Dabur, Flex industries, Ernst and Young, CNBC-TV 18, Shehnaz, DMRC, Pawan Hans Helicopters, Amity International Business School, Tata Chemicals LTD, Nestle India Food Speciality, IFFCO Tokyo, MDLR Group, Koutons India, Liberty Shoes, Mothers Pride, HCL, Jagannath Institute of Management Sciences, FCI, Rich Look, Amtek Auto, IL&FS, Lumax Automotives LTD. PLAN OF THE RESEARCH INTRODUCTION Theoretical study is incomplete without the practical knowledge, now a day’s theory without practical is of no use. No doubt theory provides examines the elements of truth lying in the theory. To achieve this purpose, I have done a project on WEBTEL ELECTROSOFT PVT. LTD. DELHI During the project of 60 days, I have been trained to know how to find out 1. The changes in market. 2. Changes in customer’s behavior. 3. Changes in companies with change in customer’s behavior.
Having Marketing specialization we have studied that marketing is the business function that identifies current unfulfilled needs and wants, design and measured their magnitude, determines which target markets, the organizations can best serve and decides on appropriate products, services and programmed to serve there markets. While going through this report, the reader can understand and estimate what and how much I have learned through my practical experience with WEBTEL ELECTROSOFT PVT. LTD. MARKETING RESEARCH Marketing research plays an important role in the process of marketing. Starting with market component of the total marketing talks. It helps the firm to acquire a better understanding of the consumers, the competition and the marketing environment. DEFINITION “Marketing research is a systematic gathering, recording and analysis marketing problem to facilitate decision making. Coundiff & Still. “Marketing research is a systematic problem analysis, model building and fact finding for the purpose of important decision making and control in the marketing of goods and services. Phillip Kotler. MAIN STEPS INVOLVED IN MARKETING RESEARCH Defining the Marketing Problem to be tackled and identifying the market research problem involved in the task. 1) Define the problem and its objectives. 2) Identify the problem. 3) Determine the information needed. 4) Determine the sources of information. 5) Decide research methods. 6) Tabulate, Analyze and interpret the data. 7) Prepare research report. 8) Follow-up the study. ) Define the problem and its objectives: - This includes an effective job in planning and designing a research project that will provide the needed information. It also includes the establishment of a general framework of major marketing elements such as the industry elements, competitive elements, marketing elements and company elements. 2) Identify the problem :- Identifying the problem involves getting acquainted with the company, its business, its products and market environment, advertising by means of library consultation and extensive interviewing of company’s officials 3) Determining the specific Information needed :- In general the producer, the manufacturer, the wholesaler and the retailer try to find out four things namely :- 1) What to sell 2) When to sell 3) Where to sell ) How to sell (4) Determine the sources of information :- a) Primary Data: - Primary dataset are those which are gathered specially for the project at hand, directly – e. g. through questionnaires & interviews. Primary data sources include company salesman, middleman, consumers, buyers, trade association’s executives & other businessman & even competitors. b) Secondary Data: - These are generally published sources, which have been collected originally for some other purpose. Source are internal company records, government publication, reports & publication, reports & journals, trade, professional and business associations publications & reports. 5) Decide Research methods for collecting data: - If it is found that the secondary data cannot be of much use, collection of primary data become necessary. Three widely used methods of gathering primary data are A) Survey B) Observation C) Experimentation A) Survey Method: - In this method, information gathered directly from individual respondents, either through personal interviews or through mail questionnaires or telephone interviews. B) Observation Method: - The research data are gathered through observing and recording their actions in a marketing situation. This technique is highly accurate. It is rather an expensive technique.
C) Experimental Method: - This method involves carrying out a small scale trial solution to a problem, while at the same time, attempting to control all factors relevant to the problem. The main assumption here is that the test conditions are essentially the same as those that will be encountered later when conclusions derived from the experiment are applied to a broader marketing area. D) The Panel Research: - In this technique the same group of respondents is contacted for more than one occasion; and the information obtained to find out if there has been any in their taste demand or they want any special quality, color, size, packing in the product. ) Preparation of questionnaire b) Presetting of questionnaire c) Planning of the sample (6) Tabulate, Analysis and Interpret the Data:- The report must give/contain the following information:- a) The title of research b) The name of the organization for which it has been Conducted c) The objectives of research d) The methodology used e) Organization and the planning of the report f) A table of contents along with charts and diagrams used in the reports g) The main report containing the findings h) Conclusion arrived at end recommendations suggested i) Appendices (containing questionnaire / forms used sample design, instructions. ) 7) Follow-up the study :- The researchers, in the last stage, should follow up this study to find if his recommendation are being implemented and if not, why RESEARCH DESIGN “Advertising is a paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor. ” 1. RESEARCH PROBLEM • Increase the awareness level of Webtel Complete Software package. • Seek the general perception of consumer towards Webtel Complete Software package. • To find the performance of Webtel Complete Software package vis-a-vis other Brands. • To know the consumer psyche and their behaviour towards 2. RESEARCH OBJECTIVES & Related sub Objectives To know the relationship of sales with the advertisement. ? To know awareness of people towards Webtel Complete Software package ? To know in which segment chocolates are mostly like/preferred. ? To know which advertisement tool is mostly preferred by people. ? To know the preference of Webtel Complete Software package with comparison to other competitive brands. ? To know the factors which affects consumer’s buying behavior to purchase chocolates. 3. Information requirement • First, I had to know about all the competitors present in the Complete Software package segment (Reputed and well established brands as well as Local brands). Before going for the survey I had to know the comparative packs and prices of all the competitors existing in the market. • Since software is a product that attracts IT people and the other professionals hence I had to trace the market and segment it, which mainly deals with people of various professional groups. • As Complete Software package is different product, the main information needed is the various types of software available in the market, their serviceable value and various other facts. They can be termed as : • As Webtel Complete Software package advertisements are mainly done through hoardings but on road show the advertisement is being telecasted timely and on the proper time or not. ABOUT THE PROJECT
The project was titled research on WEBTEL which was taken as the universe and accountant offices of whole Delhi were taken as the sample for the project. Further project involved the collection of primary data by physically visiting the outlets and conducting a questionnaire based interview to collect primary data. Project involved the study of buying behavior of sample size our project requirements were:- Examine the Business Need or Opportunity:- Write a Clear Statement of Project Objectives:- Know the Difference between Wants and Needs:- Negotiate the Requirements Definition Interactively with the Customer:- Conduct a Thorough and Comprehensive Analysis:- Document the Results Unambiguously in Sufficient detail:- COMPETITION ANALYSIS OF WEBTEL Market situation NO CHOICE BUT TO E-COMPULSORY
THE Finance Act, 2003 amended Section 206 of the Income-Tax Act, 1961 facilitating introduction of filing of tax deducted at source returns through the electronic media. This provision is effective June 1, 2003, and the details and modalities have been prescribed in `Electronic Filing of returns of Tax Deducted at Source Scheme, 2003'. As per the newly introduced scheme, corporates will have to mandatorily file TDS returns from financial year 2002-03 before March 31, 2004. There is no dispute that this bold step initiated by the Income-Tax Department has to be welcomed and corporates should fully co-operate in the successful implementation of this laudable initiative.
TDS as a mechanism to collect taxes is here to stay and will play an extremely vital role in garnering direct tax collections on a regular basis. In the current situation, considerable time and paperwork is associated with TDS compliance which, by and large, is manual in nature and takes a heavy toll on both the assessee and the Department. It is in this context that these initiatives have to be understood. Forms, periodicity As per the I-T law, entities (both corporates and non-corporates — deductors) making payments (such as salary, interest, dividend, professional fees, brokerage, rent, and so on) to third parties (deductees) are required to deduct tax at source from these payments and deposit the same at any of the designated branches of authorised banks.
To ensure proper checks and balances on these payments (TDS) and subsequent credit taken thereof by the deductees, the deductors are required to file TDS returns with the Department. TDS returns contain details such as name, Permanent Account Number (PAN) and address of deductees, date of payment, gross amount, amount of TDS, date of deposit of TDS amount in bank, name of bank branch where TDS amount deposited, and so on, in the data structure (file formats) prescribed by the Department. Salient features Collecting physical TDS returns, keeping proper checks and balances of TDS deducted and deposited by deductors and credit claimed thereof by deductees have always been matters of concern for the Department.
Keeping in view the benefits that dematerialisation has brought to the capital market in the last few years, the Department is providing the facility for furnishing TDS returns in electronic form (e-TDS return). The Department has made it mandatory (w. e. f. June 1, 2003) for corporate deductors to furnish their e-TDS return. Non-corporate deductors can furnish their returns in physical form with their respective I-T offices. They can also furnish their e-TDS return through TIN facilitators (TIN-FCs) managed by the NSDL. Checklist After preparing the e-TDS return file, the tax deductor will check the following to ensure that the e-TDS return file is complete in all aspects and is ready for furnishing to TIN-FC: • E-TDS return file is in conformity with the file format notified by the Department. Each e-TDS return file (Form 24, 26 or 27) is furnished in a separate CD/floppy along with duly filled and signed Form 27A in physical form. • Separate Form 27A in physical form is furnished for each e-TDS return. • Form 27A is duly filled and signed by an authorised signatory. • Striking and overwriting, if any, on Form 27A are ratified by the person who has signed Form 27A. • E-TDS return file if compressed, is compressed using WinZip 8. 1 or ZipItFast 3. 0 compression utility only. • New TAN quoted in e-TDS return file and mentioned on Form 27A is the same. Confirm new TAN by using search facility on the Department's Web site (www. incometaxindia. gov. in). Control totals, TAN and name mentioned in e-TDS return file match with those mentioned on Form 27A. • In case of Form 24, copies of certificates of no deduction of TDS and deduction of TDS at concessional rate, received from deductees are attached. • E-TDS return file has been successfully run through the Validation Software provided at the site www. incometaxindia. gov. in or http://tin. nsdl. com. The success of such initiative largely depends on wholehearted effort on the part of the assessees to comply with the procedures. Admittedly, there will be initial teething problems which can be sorted out on a one-to-one basis or through seminars and interactive sessions with the officials of the Department.
Once corporates ensure the success of such a scheme, it is only a matter of time that even non-corporates which have to necessarily computerize their operations for survival in business will also fall in line and furnish TDS returns in electronic form. Competitive advantage of WEBTEL WEBTEL occupies a market share of 50-60% which is the largest in Delhi and is expected to grow at 5% mainly from up gradation of softwares through new development. The market in Asia is going to grow by 3. 9%. To increase sales the firm should look at revolutionary ideas in marketing, sales, product development because the product a man buys shows his personality. Webtel is trying to increase global competitiveness through innovative products and speed-to-market. For this reason Webtel & Sharp are looking towards product planning, assessment of products for manufacturing E-TAX.
A very different way for increasing market share can be like replacing 15% or 40% of its product range by a different product range of the same company. The main factors behind its success would be build retailer- Customer partnerships for long term value creation & accelerated production through cost reduction. This is possible through the joint venture in China or shifting base to Asia. Managers and employees should go through phases like on the job training, job rotation to explore competencies to understand which are the products to be changed & understand how to make more environment friendly products. Moreover employee safety advantages should also be created in the company. Moreover few joint ventures & alliances especially in case of E-TDS & E-TAX mainly by sourcing few components rom low cost production bases can definitely help in maximizing sales. Employee motivation and choosing likeminded employees for different localities is an added advantage. Understanding consumer needs and creating a long term relationship both with shareholders & customers is also a very big quality. These factors can help in Webtel become an employer of choice & a good corporate citizen. STRATEGY WEBTEL is working intensively to improve profitability. Competitive production, new products based on consumer insight, and a strong and global brand are components in a strategy which in coming years would generate profit margins on a level with the best in the industry. PRODUCT DEVELOPMENT
In 2006, products that had been launched during the two previous years accounted for more than 40 percent of WEBTEL sales. The increased investment in product development based on consumer insight is definitely generating effects. Consumer insight is the foundation of all product development at WEBTEL. Understanding the needs of consumers as well as how they think, feel and act when they use softwares enables development work to be more accurate. Even better products are developed, and sales rise for products that consumers are willing to pay a higher price for. Resources for product development are in turn increased, and a positive spiral is created. THOUGHTFUL DESIGN
Consumer interest in design is increasing continuously, which also increases the importance of design as a competitive tool. More and more people are willing to pay for good design. The Group's investments in design, which is a part of the product-development process, help to strengthen the brand and contribute to greater demand as well as higher margin HIGH RATE OF INVESTMENT Since 2002, investments in product development have increased from approximately 1 percent of sales to 1. 8 percent in 2006. At the same time, development has become more efficient through global cooperation and coordination of launches between different product categories. Investment as a percentage of sales is expected to increase somewhat in coming years.
The focus is on developing products in profitable segments and high-growth areas, simultaneously making launches more accurate. Webtel has only one promise and one language. Consumers must always recognize the values that Webtel stands for, irrespective of which product or service they buy. Webtel is a strong, global and leading brand for both consumers and professionals. For a consumer-goods company like Webtel, the brand is one of the most important assets. Since a customer does not buy software often, consumers have only limited knowledge of what the market has to offer since their last purchase. A strong brand with a leading position that stands for quality and innovative products is attractive to both consumers and retailers.
The brand can justify a higher price and provide a stimulus for repeat buying, and also contribute to higher profitability and additional resources for investing in development of new products. It is therefore of great importance to maintain the Webtel brand as strong, global and in the lead. “THINKING OF YOU”- GLOBAL MESSAGE All Group market communication shall create a uniform image of Webtel, in every product category and in every geographical market. In 2006, the new global communication platform was launched - "Thinking of you". It highlights Webtel strong focus on consumer insight for development of new products, and profiles Webtel as a "Thoughtful Design Innovator". INVESTING IN THE BRAND
Investments in market communications in 2006 amounted to 1. 5 percent of net sales. Over the next few years this figure will rise to more than 2 percent. Investment in the Webtel brand accounted for approximately 70 percent of resources for market communication process in 2006. Strong local brands are combined with the Webtel brand in order to reinforce the link to Webtel and make marketing more powerful. The share of Group products sold under the Webtel brand, inclusive of double-branded products, rose from 18 percent in 2000 to approximately 45 percent in 2006. COST In an industry featuring tough global competition, maintaining low cost levels and efficient production is a prerequisite for success.
Webtel is achieving savings in production and purchasing, chiefly by moving production to low-cost countries and increasing purchasing there. This is part of a proactive program for creating long-term competitiveness. GROWTH Webtel will achieve profitable growth through competitive production, innovative product development and a strong global brand that is in the lead. The focus is on improving the product offering and identifying areas - product categories, regions and sales channels - that can drive growth. GROWTH IN PRODUCT All the new products that Webtel launches are created by the Group's process for development based on consumer insight. This increases the probability that the products will be successful.
Identifying product areas with a potential for rapid growth is a continuous priority. The trend is being driven by new, innovative products with good design, practical functions and good environmental properties. GROWTH IN REGIONS The Group's strategy is aimed at profitable growth. As a leading player in the market, this means that Webtel has to follow market growth in developing countries and selectively expand operations in specific product categories. The Group has a strong presence in growth regions such as Mumbai, Kolkata and Solan (H. P) in terms of both production and the market. Demand for latest softwares is increasing strongly in developing countries.
Local presence and the broad experience of growth markets that Webtel has acquired create opportunities for continued expansion. GROWTH IN THE SALES CHANNEL The share of E-TDS of Webtel dealers is growing rapidly in Delhi and Mumbai. A strong and stable brand together with new and innovative products will enable Webtel to increase sales through these specialists. Prior to a purchase, the Internet is often a consumer's first contact with softwares. Webtel has a strong position on the web, and substantial investments will be made to further increase it. GROWTH VIA ACQUISTION In addition to organic growth, Webtel has opportunities for growth through acquisitions.
The top priority is given to technology, products and brands that can help the Group increase its market share in the premium segment. DISTRIBUTION STRAREGY Chain of intermediaries, each passing the product down the chain to the next organization, before it finally reaches the consumer or end-user. This process is known as the 'distribution chain' or the 'channel. ' Each of the elements in these chains will have their own specific needs, which the producer must take into account, along with those of the all-important end-user. Webtel has different strategies for distribution of their softwares. They are as follows-: • Distributor, who sells to retailers • Retailer ,who sells to end customers • Advertisement typically used for consumption goods
Driven by consumers, the push for lower prices has caused software manufacturers to drive out costs from all parts of their operations in order to remain competitive. As , Ravi Kapoor head of Delhi integration for software manufacturer Webtel (headquartered in New Delhi) puts it, "in regard to external consumer price developments, in recent years prices have been on the whole falling. The average price of an E-TDS and E-TAX on the whole is lower. " In fact, he says, prices were higher even 5 years ago. Such cost pressure has caused Webtel, like many or most other software manufacturers, to examine its cost structure and try to improve the efficiency of all links in the supply chain.
Among purchasing and supply management initiatives implemented by Webtel are inventory-reduction efforts, supplier consolidation, and creation of a "pull" demand system initiated by consumers, logistics improvement, early supplier involvement and cross-functional training. Last year net sales for the Webtel Group reached over 5 , with white goods representing 80% of the total. The Group also owns Frigidaire Home Products in the States. Taking inventory out of the chain Close on the heels of a long series of acquisitions, Webtel recently emerged from a vigorous two-year restructuring program, consolidating its operations at all levels. In the company's year-end report, President and CEO Ravi Kapoor notes that "between 1997 and 1999 the number of Webtel software Products warehouses was reduced from 52 to 33, and inventories measured in days were cut by more than 20%. Manufacturing flexibility is at the center of the company's operational strategy with the emphasis placed on customization rather than standardization. Jayant explains that the just-in-time (JIT) philosophy the company employed on the supply side 10 years ago now is being shifted downstream to large retail customers. "We need to move our focal point for the JIT concept away from the assembly line toward the shop floor of the retailer," says Jayant. "That is where the JIT philosophy needs to be applied in order to be competitive. We can no longer run our plants based on manufacturing efficiency and measure performance by the number of appliances per man hour. That will only lead to us producing finished product that eventually we will then have to push out to the market.
Instead, we need to make sure that what we make in the plant is really what the customer wants, and at the time when he wants it. " A spokesperson at Webtel's purchasing organization, headed by Jayant Chauhan, puts it this way: "Why should it not be possible to have a direct link from when Mrs. Sunita wants to buy E-TAX software where the supplier supplies an E-TDS element? Make the demand a pull situation, where each time we have a demand from our customer, it creates a direct pull back to our supplier. " Pull system requires frequent planning This intense customer-driven focus is no small task with 22 manufacturing entities located throughout India and responsibility for managing a total of 15,000 customers.
In order to help make the concept work, Webtel has begun a program to manage the inventories of the company's larger retail customers and has succeeded in bringing the "frozen" period in manufacturing-the amount of time around which schedules are built-down to less than one week. This requires daily planning. In fact, an even tighter planning schedule currently is being tested at one of the company's manufacturing facilities in southern Europe. As Arjun explains, "We are testing production planning where we do it more than once a day. We change the planning one, two, three, and sometimes we approach four times a day, informing our suppliers via the Net, for example. Obviously this requires a high degree of coordination with suppliers, and Arjun, who is responsible for an $8 billion purchasing spend, is taking the fat out of the system, and reducing the supply base by 15% each year during the consolidation process. Key to this reduction is a shift to module purchasing. "We have an aggressive program to reduce the number of suppliers," says Arjun, "because we are moving toward a global purchasing policy. But in this process we are moving from buying raw materials and components to buying more modules or systems. That also will help us to reduce the number of suppliers. " Supplier performance measurement Webtel has about 5,000 suppliers. Three hundred of these furnish systems or complete modules.
Arjun maintains supplier accountability with a number of evaluative tools, including a supplier classification model. Classifications include "preferred," "active," "restricted," "disqualified," and "potential. " Preferred suppliers must meet rigorous quality criteria, provide appropriate cost targets, and be on the leading edge in technical innovation. Active suppliers meet at least the minimum requirements and are used if preferred suppliers are not available. Potential suppliers are identified and evaluated in terms of their ability to support future needs. To change a classification, a supplier must go through an approval process that is administered at various organizational levels.
Supplier performance is measured with a supplier-profile tool that rates suppliers on a scale of one to nine according to a list of 12 categories, as well as commodity-specific criteria. The first two categories relate to quality, the third to capacity, and the fourth to delivery performance. These ratings generate a supplier profile, which is then mapped against a minimum-to-preferred supplier performance model. Logistics initiatives Delivery performance is measured through logistics management up and down the chain, and purchasing and logistics work hand in hand to manage inbound direct materials. Perun Sharma, general manager of Mumbai logistics, is coordinating an effort with Jayant to make transportation fees more transparent, instead of being buried in the price of goods.
This allows logistics to "chase" a logistics contract, offering it to a supplier as a way to reduce transport costs. "Frankly speaking," says Perun, "that is an area where some of our suppliers make a mistake, giving us transportation at too low a cost. The important thing is that we can help our suppliers improve their transport cost and performance. " Perun also has been involved in reducing costs on the retail end of logistics, and he envisions a time in the future when entirely dedicated trains-operating within an organized hub system-will deliver goods according to precise timetables. "Fuel is up almost to a dollar a liter in Mumbai," She explains. "It's heavily taxed because of environmental concerns.
Therefore we are constantly looking to other means of transportation, and the most viable is, or should be, train transport. It's more environmentally friendly since there is lower energy consumption and fewer emissions per ton of freightage. The absolute best speed is not the most important thing, but rather if we say we can deliver it in two days, then we should be able to do so. Otherwise, I don't think we can live up to the future demands of our customers when it comes to service level. "Front loading" supplier expertise Arjun goes on to stress the importance of including suppliers as early as possible in the planning stages-in next-generation planning and R&D, for example. Then we know what we have in the pipeline for the next, let's say, the next coming years. These are ways we front load our activities with our suppliers. This early involvement needs to occur even before product development. " And what about the risk of leaking information to competitors? "Certainly there is an element of risk," Arjun notes. "But it's really a total commitment on both sides. In software development, for example, you have to select your suppliers extremely early. First of all, because maybe you don't have so many suppliers that can provide you with the right technology. And, secondly, the technologies are so sharp now, there has to be a lot of integration. Furthermore, if these suppliers should share some of this information with your competitors, this would endanger their business with you. And, suppliers also benefit because they won't build the wrong inventory; they won't have the wrong raw materials in their factories. It's like in a marriage. It's not because you have a good contract that you can make it work. What you need is confidence between partners. " BRANDING The American Marketing Association (AMA) defines a brand as a "name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers.
Therefore it makes sense to understand that branding is not about getting your target market to choose you over the competition, but it is about getting your prospects to see you as the only one that provides a solution to their problem. Every brand represents a promise to its market: "buy me and you will get this experience". Strong brands are trusted brands; they have built a reputation with customers over time by living up to their promises of quality, innovation and leadership. We have many strong brands in our portfolio. Its main focus is to continue to build Electrolux, our biggest and most important brand, known and trusted by both consumers and professional users around the world. It also has a range of other strong brands for both consumers and the professional market.
Objectives that a good brand will achieve include: • The Confirms your credibility • Connects your target prospects emotionally • Motivates the buyer • Concretes User Loyalty • Delivers the message clearly To succeed in branding you must understand the needs and wants of your customers and prospects. You do this by integrating your brand strategies through your company at every point of public contact. Your brand resides within the hearts and minds of customers, clients, and prospects. It is the sum total of their experiences and perceptions, some of which you can influence, and some that you cannot. A strong brand is invaluable as the battle for customers intensifies day by day.
It's important to spend time investing in researching, defining, and building your brand. After the entire brand is the source of a promise to your consumer. It's a foundational piece in your marketing communication and one you do not want to be without. Webtel has divided its brands into mainly three groups like: 1. Webtel Master Brand 2. National consumer brands 3. Special brands Webtel master brand The name Webtel is found on a large number of our products, satisfying a wide range of consumer and professional needs. Sometimes the name appears on its own. With E-TDS, we aim to bring out the best of functional Indian form and technology to demanding consumers in Delhi and elsewhere.
Webtel Professional satisfies the demands of even the most discerning professional CAs and accountant operators around the India. Webtel master brand: • E-TDS • E-TAX • Digital signature certificate National consumer brands Due to a history of acquisitions, Webtel today has a large portfolio of brands that enjoy strong positions in their home markets. These brands are trusted by consumers who look for innovation, design and durability at affordable price levels. These are • WEB-D-VAT • WEB-M-VAT • WEB-WB-VAT Special brands We enjoy a leading position with professional users in the industries we serve around the globe, such as web-e-manager and web-e-secure.
Webtel Professional provides an extensive range of professional-grade products and solutions from our major national brands, but in addition we also have a number of specialist brands serving particular demands of professional users. These brands are like: • WEB-E-MANAGER • WEB-E-SECURE OBJECTIVE OF THE STUDY The need for study arose because of the high competitiveness of the market and use of different sets of marketing mix alternatives by different companies to enhance the sale of their products. Customers’ satisfaction has become the most important factor to remain in the business so, it is necessary for an organization to know the preference of the customer so that it is able to fulfill the requirements of the customers. Following are the objective of study, 1.
To the present market scenario. 2. To know the changing demand of customers. 3. To know the changes that companies are bringing with respect to the changes in customers demand. 4. To have the practical knowledge of the market so that it could be applied in the world of corporate in the near feature. 5. To find out the changes in market demand of various WEBTEL product i. e. E-TDS, E-SECURE, E-TAX . 6. To study the changes in consumer behavior and demand. 7. To find out the changes in companies manufacturing pattern to change in market Behavior. 8. To compare the data collected for the year 2007 with year 2006. PRIMARY OBJECTIVE
The main objective of the study undertaken was: • To get the respondents’ insight – both, of the Consumers, i. e. the existing Accountant customers and the (Company owned and Franchisee outlets, respectively) Owners. SECONDARY OBJECTIVE In addition to knowing the perceptions, problems, their possible reasons and getting feedback from the existing Webtel Accountant customers, the study also : • Finds the effectiveness of the company’s advertisements and promotional campaigns undertaken Makes people aware of the different plans of the company and suggests the best plan for them Finds the awareness levels regarding the various Value Added Services (VAS) PROMOTIONAL STRATEGIES
Marketing theory distinguishes between two main kinds of promotional strategy - "push" and "pull". Push A “push” promotional strategy makes use of a company's sales force and trade promotion activities to create consumer demand for a product. The producer promotes the product to wholesalers, the wholesalers promote it to retailers, and the retailers promote it to consumers. Initially when Webtel came in the market they adopted push strategy which means introducing a product forcefully just to create demand for a product in the market. But sometime they realized that by this strategy they won’t be able to capture the market so they switch to pull strategy.
A good example of "push" selling is mobile phones, where the major handset manufacturers such as Nokia promote their products via retailers such as Car phone Warehouse. Personal selling and trade promotions are often the most effective promotional tools for companies such as Nokia - for example offering subsidies on the handsets to encourage retailers to sell higher volumes. A "push" strategy tries to sell directly to the consumer, bypassing other distribution channels (e. g. selling insurance or holidays directly). With this type of strategy, consumer promotions and advertising are the most likely promotional tools. Pull A “pull” selling strategy is one that requires high spending on advertising and consumer promotion to build up consumer demand for a product.
If the strategy is successful, consumers will ask their retailers for the product, the retailers will ask the wholesalers, and the wholesalers will ask the producers. A good example of a pull is the heavy advertising and promotion of children's’ toys – mainly on television. Consider the recent BBC promotional campaign for its new pre-school programme – the Fimbles. Aimed at two to four-year-olds, 130 episodes of Fimbles have been made and are featured everyday on digital children's channel CBeebies and BBC2. METHODOLOGY The research problem given to us was investigated on the basis of primary data collection and secondary data collection. I had intervened several clients in Delhi.
A structured schedule (questionnaire) was prepared and the relevant information was gathered from various clients on the basis of questions of different sorts. Several information was also gathered from CAs and other information from accountants, internal files, in house journals, records and on the basis of our discussions held with different members of the branch team. Sampling Sampling is a method by which one can collect the various information about the population by just taking its sample. Here the sampling method undertaken was, Random sampling was done with the clients. Convenience sampling of Webtel product. TYPE OF RESEARCH CONCLUSIVE RESEARCH (DISCRIPTIVE):- FIELD SURVEY
Questionnaires were put across to consumers to find out their perception and insight about Webtel complete software package to determine their needs, wants, reactions, preferences, impact of the current offerings and how they can be improved further, with a view to get an insight to the problems faced (if any), along with the new innovations that they may be looking forward to. Questionnaires were also put across the companies Owners to determine their perception and insight about Webtel software package, to look at the product from their perspective, and to cover the various above mentioned objectives Exploratory research exploratory research seeks to discover new relationship, emphasis on discovery of ideas. Marketing researches devote a significant portion of their work on exploratory studies when very little is known about the problem being examined.
UNIVERSE & SOURCE OF DATA The plank on which the study rests is information, which will be procured as a judicious mix of both secondary data and primary sources of data. Primary data Data was collected specifically for the research need at hand. This includes:- ? Interviews and surveys of respondents with informed ideas about the subject of the project, with the help of questionnaires Secondary Data Already published data formed the launch pad for the study. This included: - i) Internal Data: which originates within the organization? ? Brochures, pamphlets ? Official reports ii) External Data: which originates outside the organization? ? Books Periodicals (magazines, journals) ? The World Wide Web for Information ‘or’ the Internet SAMPLING 1. Sampling Technique: Non probability sampling (A non probability sampling technique is that in which each element in the population does not have an equal chance of getting selected) 2. Sample Unit People who buy Software package available on Online Demand, Registered Offices etc. 3. Sample size : 200 respondents (Designation Changing between personal and professional) These are the respondents belonging from different-different designations like Finance field, Engineering field, Medical field & Educational field. 4.
Method : Direct interview through questionnaire. 5. Data analysis method : Graphical method. 6. Area of survey : New Delhi 7. Timing of survey : 9. 00 am to 6:30 pm method used for data COLLECTION (FIELD work) • Questionnaire was prepared keeping the objective of research in mind. • Questions were asked to respondents as regards to their willingness to purchase Softwares. • The help of questionnaires conducted direct interviews, in order to get accurate information. • In order to get correct information I had to approach consumers specially to the charted accountant and other professionals who are using complete accountant software package. I visited as many respondents as I can and asked them their real likings about any accountant software package and also got an idea, how a software package should be? • It is really a Herculean task to understand Consumer Behavior, as the definition suggest, “Consumer behavior is a physical activity as well as decision process individual engaged in when evaluating, acquiring, using and disposing goods and services”. • In order to collect accurate information I visited to different-different offices, each and every question was filled personally by the respondents and checked properly. • People were not willing to answer, when they were contacted between 1. 00 pm to 5. 00 pm, the time when most of the people take rest during the scorching heat. research instrument used - details & why?
If one wants to know what type of dentifrice people use, what they think of, television commercials, or why they buy particular brands of cars, the natural procedure is to ask them. Thus, the questionnaire method has come to be the more widely used of the two data collection method. Many consumers are now familiar with the telephone caller who greets them with “We are making a survey”, and then proceeds to ask a series of questions. Some interviews are conducted in person, others by telephone, and others by mail. Each of these has its special advantages and disadvantages and limitations. The questionnaire method in general, however, has a number of pervasive advantages and disadvantages.
Discussion of particular variations will be more meaningful if these characteristics of the general methods are brought out first. A questionnaire consists of list of questions to be asked from the respondents and the space provided to record the answer / responses. Questionnaire can be used for the personal interviews, focus groups, mails and telephonic interviews. The choice among these alternatives is largely determined by the type of information to be obtained and by the type of respondents from whom it is to be obtained. The common factor in all varieties of the questionnaire method is this reliance on verbal responses to question, written or oral. Questionnaire in the project consists of: ? Multiple choice questions ? Dicthomus MULTIPLE CHOICE QUESTIONS:
Questions of this type offer the respondents an alternative to choose the right answer among others. It is faster, time saving and less biased. It also simplifies the tabulating process. OPEN END QUESTIONS: In this type respondents are free to answer in their own words and express the ideas they think are relevant, such questions are good as first questions or opening questions. They introduce the subject and obtain general reaction. DICTHOMUS: These are the questions which are Boolean in nature. These answers are straightforward and respondents have to answer them in a straight way. That means the answer can only be either ‘Yes” or ‘No’. Data Collections Tools
Collection of data cannot be done without proper planning and use of right method. Thus the tools used for collection of data was, a. Observation in different areas. b. Interview with clients. c. Questionnaire for clients. SAMPLING METHODS Sample design is a definite plan of obtaining some items from the whole population. The sample design used in this project is two state sampling i. e. cluster sampling and convenience sampling. The whole City & Country was divided into some geographical areas and I have chosen YAMUNA VIHAR, ASHRAM, JANAKPURI AND MANY MORE. CLUSTER SAMPLING Here the whole area is divided into some geographical area and a definite number of Charted Accountants were to be surveyed. CONVINIENCE SAMPLING
This type of sampling is chosen purely on the basis of convenience and according to convenience. I visited Offices, Malls, Banks, and Institutes. Tools and techniques of analysis Data analysis was done on the parameter of use of software package on basis of quality, price used and preference given at the time of purchase. Technique used was comparison of the use of rice based on various parameters of various Webtel Clients. Designing Questionnaire: Our questionnaire was prepared with the specific aim of knowing the buying behavior of Webtel Software and so the questions were framed keeping in mind the context of the Service of software used, price, quality, frequency of purchase.
Our questionnaire was both open and closed ended. Limitations 1. The study was limited in terms of geographical coverage as it was limited to the city of Delhi, this makes the findings not fit for other areas. 2. The whole study was completed in a short period of fifteen days. It was difficult to cover large sample. 3. Some clients gave biased response and did not give importance to the survey. This may affect the accuracy of the findings. 4. In estimates of market share of Webtel, I was not provided with the exact sales data by some clients. 5. During the survey some respondent had also shown a non corporate attitude towards the data collection. 6.
Some clients gave irrelevant data regarding their sales which caused some difficulties in data analysis. DATA ANALYSIS AND DATA INTERPRETATION Project report and project interpretation are not complete unless and Until the data analysis and data interpretations are interpreted in the true form. In this study of mine, an attempt has been made to investigate and explore the market changes in terms of its products. This chapter definitely takes care of the specific interpretations and shall go a long way in explaining the logic behind the research problem. Analysis of Change in Customer Behavior For analyzing the change in customer’s behavior in terms of E-TDS and E-TAX, I had visited several clients.
This can only be done by comparing the data collected from the market in year 2009 with the data of year 2008. The data collected regarding sales of E-TDS in a month are as follows, Avg. Sales of E-TDS and E-TAX per month in year 2008 PRODUCTS E-TDS E-TAX TOTAL Total Sales5942101 %age42%58% Avg. Sales of E-TDS and E-TAX per month in year 2009 PRODUCT E-TDS E-TAXTOTAL Total Sales6523 88 %age73. 86%26. 14% Graphical Representation of Data For E-TDS [pic] For E-TAX [pic] Data interpretation From the above given data we can make following interpretation. In the year 2009, sales of E-TDS were 73. 86% were as sales of E-TAX were 26. 4% and in the year 2008, sales of E-TDS decreased to 42%, were as sales of E-TAX increased up to 56%, With this we can make the conclusion that, there is a certain change in customers’
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