SUMMER PROJECT
ON
“FUTURE AND SCOPE OF ONLINE B2B MARKETING”
- SUBMITTED BY -
SACHIN J CHINCHWADKAR MMS 2010-12 SEMESTER III ROLL NO - 08
- SPECIALISATION MARKETING
A PROJECT REPORT ON
“FUTURE AND SCOPE OF ONLINE B2B MARKETING”
FOR “INDIAMART INTERMESH LTD” IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF MASTER OF MANAGEMENT STUDIES
CONDUCTED BY
UNIVERSITY OF MUMBAI THROUGH SASMIRA’S INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH
UNDER THE GUIDANCE OF DR. TANDON KAMAL
- SUBMITTED BY SACHIN J CHINCHWADKAR MMS/MARKETING BATCH: 2010-2012
DECLARATION
I, Mr. Sachin J Chinchwadkar hereby declare that this project report is the record of authentic work carried out by me during the period from 2nd May 2011 to 30th June 2011 and has not been submitted to any other university or institute for the award of any degree/diploma etc.
Signature
Date
Sachin J Chinchwadkar
CERTIFICATE
TO WHOM SOEVER IT MAY CONCERN
This is to certify that Mr Sachin J Chinchwadkar, a student of SASMIRA’s Institute of Management Studies and Research and pursuing two years full time Masters of Management Studies (MMS), underwent two months of internship with us from 2nd May 2011 to 30th June 2011.
During the internship, Mr Sachin J Chinchwadkar has successfully completed the project titled “Future and Scope of Online B2B Marketing” under the guidance of Mr. Nitesh Kumar (Sales Manager).
Date:
(Signature of the Company Guide)
CERTIFICATE OF THE GUIDE
This is to certify that Mr. Sachin J Chinchwadkar of SASMIRA’s Institute of Management Studies and Research has successfully completed the project work titled “Future and Scope of Online Marketing” in partial fulfilment of the requirement for Master in Management Studies as prescribed by Mumbai University. This project report is the record of authentic work carried out by him during the period from 2nd May 2011 to 30th June 2011 under my guidance.
Signature
Date:
Dr. Tandon Kamal
ACKNOWLEDGEMENT
It is my privilege to express my gratitude and respect to those who guided and inspired me in the completion of this project. I am deeply indebted to my project guide and Director of the SASMIRA’s Institute of Management Studies and Research Dr. Tandon Kamal for giving me this opportunity to undergo my project in his esteemed organization and for his timely suggestions and valuable guidance.
I also want to give thanks to Mr. Nitesh Kumar They constantly encouraged me and showed me the right path from day one till the completion of my project.
I am grateful to the Director, Faculties, administrative staff and the librarian of SASMIRA’s Institute of Management Studies and Research for providing me all the support required for successful completion of my project.
Sachin J. Chinchwadkar
INDEX
CHAPTER NO
1 1.1 1.2 1.3 1.4 1.5 1.6 1.7
CHAPTER NAME
INTRODUCTION
EXECUTIVE SUMMERY SELECTION OF THE TOPIC SCOPE OF THE STUDY OBJECTIVES OF THE STUDY LIMITATIONS OF THE STUDY RATIONAL OF THE STUDY RESEARCH METHODOLOGY
PAGE NO
1 2 3 4 5 6 7 8
2 2.1 2.2 2.3 2.4
BACKGROUND OF TOPIC
IMPORTANCE OF ONLINE BUSINESS ONLINE MARKETING ADVANTAGES AND LIMITATIONS OF ONLINE MARKETING BUSINESS TO BUSINESS MARKETING
16 17 19 21 22
3 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8
PROFILE OF THE ORGANISATION
WHAT IS INDIAMART.COM ? CORE VALUES OF INDIAMART QUALITY POLICY OF INDIAMART BENEFIT S OF INDIAMART INVESTORS OF INDIAMART BOARD MEMBERS OF INDIAMART ACTIVITIES OF INDIAMART FACT SHEET OF INDIAMART
24 25 26 27 28 32 33 35 36
CHAPTER NO
4
CHAPTER NAME
ANALYSIS OF DATA
PAGE NO
40
5 5.1 5.2
CONCLUSION AND RECEMMENDATIONS
CONCLUSION RECOMMENDAT IONS
52 53 54
6 6.1 6.2
APPENDICES
QUEST IONNAIRE BIBLIOGRAPHY
55 56 58
CHAPTER-1
1.1 EXECUTIVE SUMMERY
As par the curriculum of Masters of Management Studies, I have to do a summer project in any organization. IndiaMART Intermesh Ltd. appointed me for project work. The Main objective of the project is to find out The Future and Scope of Online B2B Marketing. With this primary objective, I started my project work under the guidance of respected Sir, Mr. Nitesh Kumar (Sales Manager). The duration of my project was 60 days. I have done my project work in Fort and its nearby areas of Mumbai. Main motive of selection of this topic is this sector is still new in the Indian SME’s. I found greater scope for study in this area. While doing the project I came to know about existing customer behavior and the strategies that companies uses while promoting their product. A pilot study was undertaken on a sample of 100 respondents. The aim of this study was to determine the contents of the questionnaire & evaluate if the outputs being delivered meet the objectives of the survey. I had to face with many constraints. Many businessmen are not ready give information easily. According to observations and finding, suggestions are given to the company so as to explore market opportunities for getting more share in market. Based on the data the Company should make strong strategies to conquer the market and must take into consideration direct and indirect competitors. Company can use this data to launch or upgrade the services for the benefit of company as well as of customer. During the project I came to know about the new and emerging sector of promotion. Company gives me training on presentation and communication skills as well of an ERP system of company. While collecting the data on field for project, I met entrepreneurs or manager of various sectors of business, the knowledge which I got through conversation with them is the most valuable thing which got during my project. I can use that knowledge in any part of life.
1.2 SELECTION OF THE TOPIC
Topic selection is the one of the important aspects of the project. It decides the course of action to be followed. The Topic selection should be such that it helps in understanding the marketing concepts clearly. My topic was given by the company itself. The Topic of my project was “FUTURE OF ONLINE B2B MARKETING IN INDIA”. This covers all thing related to the topic. The topic was Company Oriented so I surveyed businesses in fort and its nearby area Mumbai to collect all information regarding topic of the Project.
1.3 SCOPE OF THE STUDY
This research work is the result of customer oriented marketing. It is necessary to study systematically the different aspects relating to the marketing process with regards to fulfilling the expectation and needs of the customers. Marketing Research is a comprehensive subject and covers all activities and operations of a seller to his products to customers. The scope of marketing research has been steadily expanding in the recent period. Every activity directly or indirectly related to marketing of the goods and services comes under the purview of marketing research.
This Project covers mainly following areas? It is a Marketing research project to study “The Future of Online B2B Marketing” ? It consists of understanding of customer behavior while using to Automobile Sector ? Under this project the researcher had tried to find out both the Future of Online Promotion as well as The Level of Satisfaction amongst the current clients of IndiaMART. ? Project also helps to find out the target market for the company. ? The project will also enable the company in improving the promotional activities to capture the good and huge market share
? This product also helps the company to know whether they are lagging to
their competitors and what to do more to increase the sales and make customers awareness.
1.4 OBJECTIVES OF THE STUDY
The object of project is to know the future of online trading in India for businessmen. Research is not limited only up to the observation, it had much more scope. ? To study awareness of internet trading in Business Dealings. ? To find out how much percentage of businessman who are currently using internet for trading. ? To understand how company works. ? To find out queries of businessmen while dealing on internet. ? To use data in order to plan efficiently and effectively. ? To find out satisfaction of current customers of IndiaMART. ? To prepare database for the company.
1.5 LIMITATIONS OF THE STUDY
The survey suffers from following limitations: ? Limited number of businessmen surveyed. Market is big which requires a large number of samples to have a correct study. A sample size of 100 respondents is too small for it. ? Survey was conducted in limited area, i.e. Fort, and its nearby areas. ? Less chances of exact information about sales. ? It is very difficult to influence and get right information from old mentality businessmen. ? Time constrain.
1.6 RATIONAL OF THE STUDY
The study of “Future of Online B2B Trading in India” has its important worth and utility in future for organization as well as for me. Some utilities are as follows For organization: ? It will help the organization to know the current situation of awareness of internet trading to businessmen. ? It can promote the organization to improve sales than competitor’s brand by using data that I have identified. ? It can help company to take some new steps in the regarding the policies of sales and promotion.
For Myself: ? As a researcher, I got an experience to face the market condition. ? Area in which I worked is the area where most of SME’s are located. So, I got better exposure though the area is small. ? It will help me when I will go to work in the organization. ? I came to know about the new and emerging sector of online B2B trading. ? I came across with various professional software’s like ERP, etc. as well as I got training on various aspects like speaking skills, tele-calling skills, presentation skills, etc.
1.7 RESEARCH METHODOLOGY
Every Research is based on a standard sequence that determines its initialization, flow and completion. In my project I followed the following sequence of steps.
OBJECTIVES DEFINITION
DEVELOP RESEARCH PLAN
COLLECTION OF DATA
ANALYSE THE INFORMATION INFORMATIO0N
PRESENT THE FINDINGS
RESEARCH PROCESS
RESEARCH OBJECTIVES
RESEARCH DESIGN
SOURCES OF DATA
DATA COLLECTION
DATA ANALYSE
Research Methodology is a way to systematically solve the research problem. When we talk of research methodology we not only talk to research methods but also consider the logic behind the methods we use in the contexts of our research study and explain why we are using a particular method or technique and why we are not using other so that results are capable of being evaluated either by researcher himself or by others.
Generally Research Methodology follows the following steps:1. TO DECIDE THE OBJECT OF STUDY 2. TO DECIDE RESEACH DESIGN 3. TO DETERMINE THE SOURCE OF DATA 4. TO DESIGN DATA COLLECION FORMS 5. TO DETERMINE SAMPLING DESIGNAND SAMPLING SIZE. 6. TO ORGANISE AND CONCUCT FIELD SURVEY. 7. TO PROCESS AND ANALYSE THE CONDUCTED DATA 8. TO PREPARE THE RESEARCH REPORT.
1. TO DECIDE THE OBJECT OF STUDY
The main objectives of my project was to understand the future of online marketing mainly for B2B kind of business and also to understand critical factors in decision of a businessman while selecting media for promotion.
2. TO DECIDE RESEARCH DESIGN
Decision regarding what where when how much by what means concerning an inquiry or research study constitute a research design. “A Research Methodology is the arrangement of condition of collection and analysis of data in a manner that aims combine relevance to the research purpose with economy in procedure.”
Generally there are three types of research design: ? Exploratory research ? Descriptive research ? Casual research
As my Project was mainly about selection of media for promotion, therefore in this case descriptive research would come.
Descriptive research The major of descriptive research is description of the state of affairs as it exists at present. The main characteristics of this method are that the researcher has no control over the variables. He can only report what was happened or what is happening. My report was on Online Promotion, my work was to do a survey of the market and get the inside information about the awareness of internet marketing, need of online promotion, influencing factors in selecting media.
3. TO DETERMINE SOURCE OF DATA
The task of data collection begins after a research problem has been defined and a research plan chalked our. While deciding about the method of data collection to be used for study. The researcher should keep in mind that there are two types of data.
? ?
Primary Data Secondary Data
PRIMARY DATA Primary data are time consuming. But it gives accurate result if the sample is effectively selected. The data used is not outdated. There are several methods of collecting data, important ones are:-
? ? ? ?
Observation method Interview method Through questionnaire Through schedules
SECONDARY DATA Secondary data means that are already available i.e. they refer to the data which have already been collected and analyzed by someone. Secondary data is economical as the cost of collecting original data saved less time consumed for project compilation secondary data is also used for basis of comparison with the primary data. Here primary data was collected through questionnaire and personal interview of the customer.
4. TO DESIGN DATA COLLECTION:There are two types of mode to collect the data. They are:-
OBSERVATION METHOD The observation method is the most commonly used method. In the way we observe things around us but this sort of observation is not scientific observation. Become a scientific tool and the method of data collection for the researcher when it serves a formulated researcher when it serves a formulated researcher purpose, is systematically planned and recorded and is subjected to checks and controls. On validity and reliability under the observation method the information is sought by way of investigations own direct observation without asking question from respondents.
SURVEY METHOD In my project I used the survey method of collection of data. I had surveyed the market in Fort and nearby areas. In all thee I have surveyed the market and have asked questions to businessman to get data. There was a proper questionnaire which
was made and used.
5. TO DETERMINE SAMPLING DESIGN AND SAMPLE SIZE A sample design is a definite plan for obtaining a sample from a given population. It refers the technique or the procedure would adopt in selection items for the sample. The sample design is determined before data are collected.
There are two types of survey, they are:? ?
Sample survey Census survey
I had adopted the sample survey for my project with sample size of 100.
6. TO ORGANISE AND COLLECT FIELD SURVEY To do a field survey is an easy job. You need to first organize each and every aspect of the survey before your start with it. The first thing is you should know the product very well before you go to market. Its strength and weakness because that is what you are going to speak about the market. The next thing you should know about the company you belong. After completing the study of all these aspects, you should know the market from where your have to collect the data. After analyzing all these aspects and organizing yourself you should then go to the market to collect data. I covered all these aspects when I was doing my projects before compilation.
7. TO PROCESS AND ANALYSE THE COLLECTED DATA:The data after collection has to be processed and analyzed in accordance with the outline lay down at the time of developing research plan. In the process of analysis, relationship or differences supporting or conflicting with origin or how hypothesis should be subjected to statistical tests of significance to determine with what validity data can be said to indicate any conclusion.
8. TO PREPARE THE RESEARCH REPORT:I have taken great care in preparation of my research report. I have tried my best to maintain objectivity, coherence and clarity in the good research report is that it effectively communicates its resource findings.
COVERAGE I have covered the FORT and nearby areas under the Fort Branch of IndiaMART in Mumbai Region. In above I have visited 100 businessmen of various sectors of companies. They give me satisfactory reply.
CHAPTER-2
2.1 IMPORTANCE OF ONLINE BUSINESS
With the current boost in e-commerce, maximizing sales through online advertising is becoming an increasingly attractive choice for small-scale business owners. By advertising their products online the company can gain access to millions of potential buyers who, would not have known about them. Thus online advertising gives an extra competitive edge to marketing strategy. With the influx of modern technology, business cards are passing nowadays. Online advertising therefore is the most economic and efficient mode for self-promotion. Besides a website can afford the customers with the facility of contacting the company on their own time. This can boost up sales drastically. Internet marketing is the most crucial strategy for the small-scale companies also. It is a cost effective mode of operations to reach out to the potential customers easily. It puts the small companies on the same level with the big industries thus attracting a much larger market. In this present era of e-commerce, almost 93% of web searchers depend on search engines to get the information about the product or service that they are looking for. Thus listing the products or services on the search engines with the relevant keywords can ensure more traffic and higher sales volumes for their business. Besides this online advertising ensure more favorable returns than conventional forms of advertising like radio and TV commercials, snail mail etc. And this medium is much cheaper in comparison to others media. When a company opens a business in a particular area, it is able to draw customers initially. Then gradually the magic wears off. But when the brand name of the company is promoted through the World Wide Web, it ensures a much more sustained and higher conversion rate. Small businesses are unable to sustain huge losses. They require profitable returns on every cent of their investment. The mantra of success is to draw more customers, to extract more money from each customer, and to keep the existing customers for a longer period. All this can be effectively achieved through Internet marketing. Thus it is of the utmost importance for small companies to start promoting their business online. This enables them to meet their business objectives and to gain more profit.
Online advertising generates more traffic, which in turn results in more sales and more sales is leading to more profit. Most web users are unaware of the address of the particular website that would give them the required information. So they depend heavily on search engines. It is therefore crucial for the company's website to be listed in the topmost positions in search engine results. First of all every business needs custom web design ecommerce solution web development & SEO. The websites which are custom web design by the company itself or by a friend or relative who have completed a course in web designing are however unable to provide a strong foothold to the company in the search engine rankings. They lack the expertise that is required to endow the company with that mush of extra competitive edge. Therefore the procedure of designing and launching websites must be carefully considered. Nowadays there are various get-rich-quick schemes available in the market. Most of them are ineffective in providing a fruitful solution. However, small-scale entrepreneurs can take heart from the fact that Internet marketing is a tried and tested formula of success and fortune. Proper network marketing can ensure that a company's brand name is known on a worldwide platform. The small companies should realize the importance of getting their name publicized in the minds of people. These online ads help people to know that the particular company exists. More often than not the small companies are baffled by the question of how to increase their sales and business relationships. This problem can only be combated by effective web marketing strategies. Search engine optimization or SEO is crucial to ensuring maximum visibility of the company's website. This can be achieved by endowing the website with the right look and feel. Besides the content too, needs to attract the attention of the new visitors. Thus, online advertising imbues the company with a unique identity. It helps in optimizing its sales and making its brand logo known far and wide. E-commerce and Internet advertising opens up new vistas of development for the small companies who are striving to establish themselves on a global platform. Effective network advertising can thus catapult a company to the higher rungs of success and fame.
2.2 ONLINE MARKETING
Internet marketing, also known as digital marketing, web marketing, online search
marketing,
marketing or e-marketing, is the marketing (generally
promotion) of products or services over the Internet. In its simplest form, the term online marketing refers to using the power of Internet advertising to generate a response from your audience. Also known as Internet marketing or web marketing, online marketing is used by companies selling goods and services directly to consumers as well as those who operate on a business-to-business model. Internet marketing ties together the creative and technical aspects of the Internet, including design, development, advertising, and sales. Internet marketing also refers to the placement of media along many different stages of the customer engagement cycle through search engine marketing (SEM), search engine
optimization (SEO), banner ads on specific websites, email marketing, and Web 2.0 strategies. Common areas of interest within the field of online marketing include: 1) Affiliate Marketing: In affiliate marketing, a business recruits associates to promote the company's products or services. The associates receive a commission or other similar rewards for every sale, visitor, subscriber, or customer they bring to the company. Amazon.com Associates Central is an example of an affiliate marketing program that Amazon.com uses to encourage private website owners to bring traffic to its site.
2) Display Advertising: Display advertising involves the use of web banners or banner ads placed on a third-party website to drive traffic to a company's own website and increase product awareness.
3) Email Marketing: Companies that use email marketing send promotional emails directly to customers. However, it can often be hard to distinguish between spam and legitimate email marketing messages.
4) Interactive Advertising: Interactive advertising involves the use of animations and other graphic techniques to create ads that engage the viewer and invite participation.
5) Search Engine Marketing: Search Engine Optimization (SEO), paid placement, and paid inclusion are search engine marketing techniques that companies can use to increase their visibility in the search engine page results from Google and its competitors.
6) Viral Marketing: Viral marketing is a technique is which companies encourage customers to pass along information about their products or services. Company websites that let visitors email interactive games or funny video clips to their friends are an example of a viral marketing effort.
Online marketing, regardless of the exact method a company chooses to use, offers several benefits. It's convenient, affordable, and provides the opportunity for companies to track results as a campaign progresses. In addition, Internet marketing allows even the smallest of companies to compete in a global marketplace. Online marketing is often related to public relations, customer service, sales, and information management. However, it is important to remember that these fields can be considered separate specialties as well.
2.3 ADVANTAGES AND LIMITATIONS OF ONLINE MARKETING
Advantages:
Internet marketing is inexpensive when examining the ratio of cost to the reach of the target audience Companies can reach a wide audience for a small fraction of traditional advertising budgets The nature of the medium allows consumers to research and to purchase products and services conveniently. Therefore, businesses have the advantage of appealing to consumers in a medium that can bring results quickly. The strategy and overall effectiveness of marketing campaigns depend on business goals and cost-volume-profit (CVP) analysis. Internet marketers also have the advantage of measuring statistics easily and inexpensively; almost all aspects of an Internet marketing campaign can be traced, measured, and tested. The advertisers can use a variety of methods, such as pay per impression, pay per click, pay per play, and pay per action. Therefore, marketers can determine which messages or offerings are more appealing to the audience. The results of campaigns can be measured and tracked immediately because online marketing initiatives usually require users to click on an advertisement, to visit a website, and to perform a targeted action.
Limitations:
However, from the buyer's perspective, the inability of shoppers to touch, to smell, to taste, and "to try on" tangible goods before making an online purchase can be limiting. However, there is an industry standard for e-commerce vendors to reassure customers by having liberal return policies as well as providing in-store pick-up services.
2.4 BUSINESS TO BUSINESS MARKETING
Business-to-business (B2B) describes commerce transactions between businesses, such as between a manufacturer and a wholesaler, or between a wholesaler and a retailer. Contrasting terms are business-to-consumer (B2C) and business-togovernment (B2G). The volume of B2B (Business-to-Business) transactions is much higher than the volume of B2C transactions. The primary reason for this is that in a typical supply chain there will be many B2B transactions involving sub components or raw materials, and only one B2C transaction, specifically sale of the finished product to the end customer. For example, an automobile manufacturer makes several B2B transactions such as buying tires, glass for windscreens, and rubber hoses for its vehicles. The final transaction, a finished vehicle sold to the consumer, is a single (B2C) transaction. B2B is also used in the context of communication and collaboration. Many businesses are now using social media to connect with their consumers (B2C); however, they are now using similar tools within the business so employees can connect with one another. When communication is taking place amongst employees, this can be referred to as "B2B" communication.
Information Exchange:
In B2B marketing, you are often dealing with a buying organization that requires a significant amount of information during their buying process. Unlike in many consumer marketing situations where the need for clothes, food, or cleaning products may be well understood, in B2B marketing, that may not be the case at all. Early stage education on industry transition, technology changes, or regulatory changes can
be needed in order to best understand why your solution’s category even exists in the first place. This need to exchange information continues throughout the buying process. Buyers, when convinced that a potential solution exists to their business challenge, will then need to know which solutions to evaluate, what criteria to evaluate them on, and what evidence exists that one solution is better than the others. B2B marketers need to understand where in this education process their largest marketing challenge exists in order to better educate the buyer. Social media becomes a critical part of this information exchange in a B2B environment as social media forms a great medium through which to educate, converse with, and build relationships with prospective buyers who may be interested at a point in the future. Over time, a great social media strategy in a B2B organization will improve market perceptions of your organization in ways that other brand investments never could.
CHAPTER-3
3.1 WHAT IS INDIAMART.COM ?
IndiaMART.com is a leading B2B marketplace that assists buyers and sellers to trade with each other at a common, reliable & transparent platform. Started in 1996, we serve more than 700,000 sellers and over 50 million unique visitors every month, who use our marketplace to generate business leads, find suppliers, post trade offers, test market products, promote their brand and conduct business. With online catalogs, having more than 200,000 active products, we are the largest B2B marketplace from India. In addition to business directory, online catalog, trade leads and tenders, we offer personalized assistance to buyers and sellers for almost everything they need to buy/sell using IndiaMART.com. IndiaMART.com is India's largest online B2B marketplace for Small & Medium Size Businesses, connecting global buyers with suppliers. The company offers a platform & tools to over 1 million suppliers to generate business leads from over 5 million buyers, who use the platform to find reliable & competitive suppliers. The company has over 4000 employees located across 75 offices in the country. Its existing investors include Intel Capital and Bennett, Coleman & Co. Ltd. IndiaMART.com offers products that enable small & medium size businesses generate business leads (online catalogs/store-fronts), establish their credibility (third party verified trust profile) and use business information (finance, news, trade shows, tenders) for their business promotion. IndiaMART.com has won numerous awards over the years, which include coveted Red Herring Award, Emerging India Award, among others. The company has also been widely covered by media for its pioneering role in promoting SME business in the country.
3.2 CORE VALUES OF INDIAMART
For us they are simple and straight; take responsibility, work with passion and commitment, move ahead as a team and conserve the integrity. We firmly believe that core values keep organizations stable and focused to the common goal. Our core values have helped us achieve our mission to bring measurable benefits to our customers
RESPONCIBILITY Responsibility, not just of quality work but of continuous self-development, of our decisions and of our actions. This helps us think rationally and provides a sense of accountability to ourselves, our commitment to customers and to our colleagues.
PASSION Work at IndiaMART.com involves constant innovation and creativity. It involves a continuous thought process to get tangible benefits to our customers, taking into account the uniqueness of their purpose. Passionate people with a determination to make the difference are the ones who make this possible.
TEAM WORK "Together we can achieve the impossible" is our belief. Our success is a result of our team work. Experts from the field of management, marketing, IT, arts, content & various other disciplines work as a team on every project, every endeavour. Dedication, passion and teamwork are the true means to our mission fulfillment.
INTEGRITY We realize the importance of the job & information we handle. We understand the responsibility that each member of our team has to shoulder and we do that with highest levels of trust, honesty and integrity - of purpose and action.
3.3 QUALITY POLICY OF INDIAMART
We are the first Indian company in our domain to have received ISO 9001:2008 certification for overall quality management and the organisation’s ability to successfully "meet customer, regulatory and statutory requirements."
3.4 BENEFITS OF INDIAMART
BENEFITS FOR SELLERS:
For Indian sellers, IndiaMART.com has been the most successful platform for business generation since 1996. The sellers use IndiaMART.com for the following purposes:
? ? ? ? ?
Finding global buyers for their products and services Test marketing of new products globally for as low as Rs 12,000 Setup a 24x7, 365 days online catalog for as low as Rs 24,000 Invite interested buyers to buy their products through trade leads Brand building & generating potential sales leads through top listings,
search listings and advertisements
Sellers Tool
IndiaMART offers host of free and paid options to promote your business worldwide.
1) Create your FREE Website & Business Listing: Reach out to thousands of prospective buyers from all over the world. Create a dynamic (do-it-yourself) website for free & enhance your company visibility
? ? ? ?
Have your company listed in multiple product categories Advertise Unlimited Products for Free Add your company profile, infrastructure etc. Receive genuine business enquiries from buyers
2) Post Free Ads: Promote your offers & products to thousands of buyers sourcing in your industry.
3) Subscribe Trade Alerts: Get updates on latest purchase requirement from potential buyers in your industry.
4) Premium Membership: Starting from as low as Rs. 2000 per month, you can choose the most appropriate business promotion package from a variety of options. Kindly contact our seller support desk to know more about premium memberships.
BENEFITS FOR BUYERS:
For global buyers, IndiaMART.com is the largest & most user-friendly source of supplier identification, product sourcing and establishing business association. It serves varying needs of buyers including:
? ? ? ? ?
Finding manufacturers and suppliers of desired products Locating manufacturers for customized product development/manufacturing Identifying new products for their market Seeking offers from sellers for your immediate/long-term buying requirements Establishing long-term association with companies for distribution, OEM supplies, contract manufacturing etc.
?
Selecting the right service provider for various business needs and outsourcing of service requirements
Buyers Tool
1) Send your Buy Requirement: Let us know your purchase requirement in detail and receive quotations and responses from only pre-verified and genuine suppliers. How this benefits a buyer:
? ? ? ? ?
Save time in searching suppliers Receive responses only from suppliers who can meet your requirement Receive responses only for verified suppliers Receive responses from multiple suppliers Guaranteed NO spam or un-wanted mails
2) Search: IndiaMART offers various search tools to buyers for easy sourcing from India. Use below search tools as per your requirement-
a) Product Search - Search from over 10,00,000 products. Best suited for those who are looking for new / different products to sell in their market.
b) Supplier Search - Search from over 7,00,000 companies. Best suited for those who have finalized product & specifications and are looking for a company to supply the same.
c) Sell Offer Search - Search from over 1,00,000 active product offerings from various suppliers.
3.5 INVESTORS OF INDIAMART
Our current investors include:
INTEL CAPITAL
Intel Capital is a global commitment aimed at investing and supporting profitable enterprises that will drive internet growth, enable new usage models, and advance industry standards. Intel Capital made its first investment in India in 1998. It has invested in approximately 60 companies across 10 cities in the country. To help stimulate India technological innovation and the continued growth of the country's information technology industry, Intel Capital set up a US $250 million "Intel Capital India Technology Fund" in December 2005. In 2008, Intel Capital invested approximately $50 million in 9 companies in India out of which 6 were new investments - Emnet Sansara Media Pvt. Ltd, IndiaMART Limited, One97 Communications (P) Ltd., Vriti Infocom, Yatra Online, and Wortal Inc.
B. C. C. L. (Bennett, Coleman & Co. Ltd.)
Bennett, Coleman & Co. Ltd. provides media publishing services. The company offers newspapers, magazines, Internet, and electronic commerce information publication services. Its brands include The Economic Times, Times of India, Femina, Sandhya Times, Times FM, and Film fare. Additionally, it provides radio and television programs production and distribution, Web portals operation, and mobile value added services. Bennett, Coleman & Co. Ltd. was founded in 1838 and is based in Mumbai, India.
3.6 BOARD MEMBERS OF INDIAMART
DINESH AGARWAL
FOUNDER & CEO, IndiaMART.com
Dinesh Agarwal is the founder and CEO of IndiaMART.com, India's largest online B2B marketplace connecting Indian suppliers with domestic and international buyers. Founded in 1996, Dinesh is credited with leading IndiaMART.com through a decade and a half with an unblemished record of being profitable from d ay one - a feat no other online company in India has been able to emulate. IndiaMART is today arguably one among the world's top ten B2B marketplaces, as has been corroborated by a host of credible market surveys. Under Dinesh's dynamic and visionary leadership, IndiaMART today is a 4000 strong talented pool of human resource with pan-India presence covering over 100 cities. It's stellar credentials, robust business model and Dinesh's commitment towards the MSME sector has invited prestigious investors like the Times of India Group and Intel Capital into its fold for further expansion plans. A vigorous advocate of Indian SMEs, he has spearheaded several path breaking ideas to promote Indian SMEs globally. His contribution to Indian businesses is widely acknowledged by the media. Prior to pursuing his entrepreneurial instincts, this Computer Engineer from HBTI, Kanpur has honed his technical skills working for industry leaders such as HCL Technologies (America), Center for Development of Telematics (C-Dot) and CMC Limited before returning to India. He has an extensive experience spanning over 16 years in the field of Internet, Networking & Systems Development and Consulting.
BRIJESH AGRAWAL
COO, IndiaMART.com
Brijesh Agrawal is the Chief Operating Officer, IndiaMART.com. Being a part of the core management team, Brijesh has been the brainchild behind the creation of a plethora of innovative products of IndiaMART. Since his joining in December 1999, Brijesh has been providing eclectic strategies appertaining to Sales, Marketing, Operations and Human Resources. With an paranomic nine years of experience in the B2B world, he has provided the brainwave to many a professionals who are now playing the leadership roles in their respective fields. A management graduate from the University of Lucknow and an MBA from National Institute of Integrated Learning and Management (IndiaMART.com), Brijesh started his career as a Supply Chain Consultant at Miebach Logistics GmbH, Bangalore. An astute businessman, Brijesh's biggest strength is his entrepreneurial style of functioning and the ability to forge strong relationships with people. Mingling easily across levels and industries, he is acknowledged as a complete people's person, who likes to leads from the front.
3.7 ACTIVITIES OF INDIAMART
Leaders of Tomorrow Awards:
ET Now and IndiaMART.com invite you to submit your nomination for the ET Now - IndiaMART Leaders of Tomorrow Awards 2011. This definitive business awards will recognize the contribution of Micro, Small and Medium Enterprises (MSMEs) in driving India’s march to global stardom. This award will inspire future leaders to tread a path of success and triumph. It will celebrate the success stories and honor entrepreneurs who have transformed stumbling blocks into stepping stones driven by their passion, determination and undying spirit of entrepreneurship. The award will salute these entrepreneurs of substance, the business leaders of tomorrow.
Evaluation Process ? Ernst & Young is the independent process validation partner for evaluating the nominations. ? Top 5 companies in each category to present their success story before the Jury posts which winners to be chosen.
Inspirational Success Stories As a prelude to the Awards, a feature series of twenty seven episodes will showcase inspirational stories from the MSME space from across the country. These stories will celebrate the spirit of entrepreneurship and narrate fascinating examples where a little courage, a sound business plan and a good product have helped an entrepreneur to make his/her mark in the world of business. Nominate your company to be one of the Leaders of Tomorrow and also stand a chance to be featured as a success story on ET NOW.
3.8 FACT SHEET OF INDIAMART
We endeavor to maximize value for our customers by offering those efficient and cost-effective solutions for business promotion, process support and transaction accomplishment.
1996-97
? ?
IndiaMART.com, India's first online B2B directory, launched Successfully introduces free listing & free-query forwarding concept to familiarize Indian SMEs with benefits of Internet for business promotion
?
Accomplishes India's first e-commerce project for Nirula's (http://nirulas.com)
?
Achieves break-even within 6 months of the launch
1997-98
? ?
Successfully crosses 100 clients mark Initiates franchisee network program
1998-99
? ? ?
Launches Handicraft, Apparel & Finance channels Increases workforce to 40 B2B marketplace network surges to 1 million page views/month mark
1999-2000
? ? ?
Accomplishes 'Bharat On Line' - MTNL's online portal project Launches auto industry channel Opens branch office in financial hub of India - Mumbai
?
Crosses Rs 1 crore revenue mark
2000-01
? ? ? ?
Touches 5 million page views/month Crosses 1000 clients mark Registers 100,000 business queries/month Accomplishes prestigious online projects for HHEC, Jindal Organization, ModiCorp
? ? ?
Wins Britannica (BIG) Award for Travel.IndiaMART.com Profits increased by 128% over last year Company becoming limited, from InterMESH Systems, to IndiaMART InterMESH Limited
2001-02
?
Business World magazine declares IndiaMART.com as "the only profitable Indian Dotcom, with positive cash flows" [Cover Story: 14 May 2001 issue]
?
Adds exclusive services to its portfolio - Electronic Trade Offers & Request for Quotation / Request for Proposal
?
CNBC India recognizes IndiaMART.com as one of the only profitable dotcoms in India based on report by McKinsey
2002-03
? ? ?
Moves operations to state-of-the-art NOIDA development center Launches Exim.IndiaMART.com Crosses 200,000 business queries mark with 12 million page views
2003-04
? ? ?
Launches Trust SEAL to bridge the trust gap in B2B trade Crosses 3000 clients mark Touches 26 million page views per month, generating more than 300,000 business queries
2004-05
? ?
Becomes first ISO 9001:2000 company in its domain Surpasses 8000 clients mark
2005-06
? ? ? ? ?
IndiaMART.com completed ten successful years (1996-2006) Crossed 10,000 clients mark Launches MDC, a four-page online catalog for clients Implements corporate-wide WEBERP Acquires new office at B-6, Sec 8, NOIDA
2006-07
?
BCCL (Times of India Group) makes strategic investment in IndiaMART.com
?
Launches new Templated Product Catalogs
2007-08
? ? ? ?
Launches IndiaMART Sourcing Guide Commences International Trade Fair Participation initiative Wins 'Amity Corporate Excellence Award 2008' Wins 'Shiromani Yojana Puraskar' award
?
5,00,000 members registered on IndiaMART.com
2008-09
? ? ? ? ? ?
Intel Capital makes strategic investment in IndiaMART.com Wins 'Emerging India Award 2008' as a second runner-up Wins 'Red Herring 100 Asia 2008' award Launches Video Profiles for "Leading Suppliers" IndiaMART.com footprints cover over 100 towns in India Participates in more than 100 international & 200 domestic trade shows
2009-10
? ?
IAMAI declares IndiaMART.com as India's largest online B2B marketplace Mr. Deep Kalra (Founder & CEO of Makemytrip.com) & Dr. Nachiket Mor (President, ICICI Foundation) join IndiaMART.com Board of Directors
?
More than 300,000 products listed on IndiaMART.com
2010-11
?
Takes a giant leap in SME space & launches 'IndiaMART Leaders of Tomorrow Awards'
? ? ? ?
IndiaMART.com member base surges to 1 million suppliers Celebrates 14 years of grand success Launches FREE tenders service - a first in India Being a socially responsible corporate, associates with "Meri Dilli Meri Yamuna" campaign
?
The Smart Techie ranks IndiaMART.com among India's '25 Most Promising Internet Cos.'
CHAPTER-4
1) What tools are you mainly using for marketing of your products? a) Print Media b) Digital Media c) Audio/Visual Media
28% 53% 19% Print Media Digital Media Audio / Visual Media
Interpretation:
It shows the trend of promotion in business, they are relying more on print media than digital or audio/ visual. Digital media is the least preferable media currently. This trend may change in future.
2) Are you aware about online B2B marketing? a) Yes b) No
32%
Yes 68% No
Interpretation:
More number of people are aware about the digital marketing. Though only 19% of them are preferring to go with Online Marketing. It can help in finding out the target market.
3) Instead of IndiaMART, which company name you heard? a) Trade India b) Just Dial c) Alibaba d) Other
Interpretation:
The tough competitor for IndiaMART is Just Dial. Though just dial is not for B2B marketing, its popularity is more than any other Online B2B Portal. In case of only B2B portals, Trade India is the strong competitor of IndiaMART.
4) Are you registered with any online promotion company? a) Yes b) No
38% yes no
62%
Interpretation:
Here, majority of the company are not registered with any of the online promotion company. And those who are registered, many of them are not taking digital media seriously as a tool of promotion.
(Question Number 5, 6, 7 & 8 are only for IndiaMART Clients)
5) After getting registered with IndiaMART what changes have you Seen in your business? Ans:
While collecting answers for this question, following are some reviews of entrepreneurs:
? "Ever since we associated with IndiaMART.com, we have been receiving enquiries through its Buy Leads service and our business soared. ? "We have achieved good results in the domestic market with the support of IndiaMART.com."
? "After we registered with IndiaMART.com, our customer base increased
day on day."
?"We
have reached the right customers and received good business because of the services provided by IndiaMART.com."
Interpretation:
By considering above comments by various entrepreneurs, we can say that IndiaMART helps them in every aspect of business. For increasing sale as well as for promotion Online Marketing is benefited.
6) How much are you satisfied with the services of IndiaMART? a) Excellent b) Good c) Average c) Poor
10% 28%
16% Excellent Good 46% Average Poor
Interpretation:
Here you can see the satisfaction level of customers who are registered with IndiaMART. More than 60% of total customers are happy from online promotion and only 10% are not satisfied. From this scenario, you can see the credibality of the online promotion services.
7) Which part of our service you like the most? Ans: a) Sales Enquires b) Design c) Service
36%
38% Sales Enquires Design 26% Service
Interpretation:
You can compare the percentage of sales enquiries with other, majority of the clients like the enquiry generating services of IndiaMART. It shows the importance of online marketing in sales of business.
8) In which area are you facing difficulties while using the services of IndiaMART? a) Sales Enquires b) Design c) Service d) Handling
31%
25% Sales Enquires Design
8% 36%
Service Handling
Interpretation:
Here, you can see that most of the clients are facing problem in handling and design only. This is mainly because of less knowledge about internet and less awareness about online marketing.
9) Would you like to go with online promotion? a) Yes b) No
24%
yes 76% no
Interpretation:
Here you can see the interest of people; most of the people are willing to go for the online marketing of their products. Company can also find out the prospective clients in those people.
10) Your overall opinion about online promotion?
Interpretation:
While getting opinion on online marketing, I found some interesting data which is very useful for the company. Following are some opinion of customers on online marketing: ? Online marketing is a very good concept, but we are facing difficulties in handling our website. We are not aware about how to handle website and increase its awareness. ? "We experienced spiraling growth in our business since we got in touch with IndiaMART.com and Online Promotion" ? "We gained advantage over our competitors by going to Online Promotion. It is through them that we were propelled towards international market."
From the above opinions of entrepreneurs, we can say that many of the businessman’s are not aware with the true and complete knowledge of internet.
11) In future, which areas of business, you feel, online promotion is profitable most? a) Sales b) Marketing c) Awareness d) Communication
15% 38% 23% Sales Marketing Awareness 24% Communication
Interpretation:
From these figures also, you can see the importance of online promotion in sales of company. Majority of the people are thinking that online promption is useful mainly for sales in future.
CHAPTER-5
5.1 CONCLUSION
? Project was carried out in fort and its nearby area. Majority of SME’s in Maharashtra are located in this area only. ? IndiaMART is the leading company in the sector of online B2B marketing. ? There is a greater scope for the company in future, because 68% of people are aware with online B2B promotion but only 38% are using these services. ? Existing clients of IndiaMART are satisfied because more than 60% of clients are happy with the services given by IndiaMART. ? Company has some challenges in future if they want to capture the major area of market. They have challenges like unawareness in people, no technical knowledge, etc. ? Company has better services in case of generating business; company should focus on that and capture the market. ? Trade India is the biggest competitor for IndiaMART, because just dial is not the B2B portal for promotion.
5.2 RECOMMENDATIONS
On the basis of analysis and interpretation of the collected primary data, I have got some issue which pointed by the consumer. Here I suggest some points which are beneficial for company in making decision and strategy. ? Company should run awareness campaign in various areas to educate businessman. ? Company should give training to its new client, so that client should satisfy. ? Company should provide trial packages, so that people can demonstrate the use of online promotion in their business. ? Company can also provide packages at low rate. ? This sector is new and growing; company can also capture semi-urban areas by proper planning and co-ordination. ? Company should participate in the various functions or trade shows which are related with B2B marketing. ? Company should focus on customer retention, because many companies like Trade India and Just Dial are entering into the market.
CHAPTER-6
6.1 QUESTIONNAIRE
PERSONAL PROFILE: Name: Age: Post in Company: Sex:
BUSINESS PROFILE: Type of Business: Area Covered: Website Address (If Any): Turnover:
1) What tools are you using for the marketing of your products? a) Print Media b) Digital Media c) Audio/Visual Media
2) Are you aware about online B2B marketing? a) Yes b) No
3) Instead of IndiaMART, which company name you heard? Company Name:
4) Are you registered with any online promotion company? a) Yes b) No
(Question Number 5, 6, 7 & 8 are only for IndiaMART Clients) 5) After getting registered with IndiaMART what changes have you seen in your business?
Ans:
6) How much are you satisfied with the services of IndiaMART? a) Excellent b) Average c) Poor
7) Which part of our service you like the most? Ans:
8) What difficulties are you facing while using the services of IndiaMART? Ans:
9) Would you like to go with online promotion? a) Yes b) No
10) Your overall opinion about online promotion? Ans:
11) In future, which areas of business, you feel, online promotion is profitable? Ans:
6.2 BIBLIOGRAPHY
Reference Books: Marketing Management Basic of Marketing Selling Services Marketing Philip Kotler Dr. P. C. Pardeshi Cynthia L. Greene Kenneth E. Clow David L. Kurtz
Reference Links: www.google.co.in www.onlinemarketing.co.in www.indiamart.com www.alibaba.com
doc_387037606.docx
ON
“FUTURE AND SCOPE OF ONLINE B2B MARKETING”
- SUBMITTED BY -
SACHIN J CHINCHWADKAR MMS 2010-12 SEMESTER III ROLL NO - 08
- SPECIALISATION MARKETING
A PROJECT REPORT ON
“FUTURE AND SCOPE OF ONLINE B2B MARKETING”
FOR “INDIAMART INTERMESH LTD” IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF MASTER OF MANAGEMENT STUDIES
CONDUCTED BY
UNIVERSITY OF MUMBAI THROUGH SASMIRA’S INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH
UNDER THE GUIDANCE OF DR. TANDON KAMAL
- SUBMITTED BY SACHIN J CHINCHWADKAR MMS/MARKETING BATCH: 2010-2012
DECLARATION
I, Mr. Sachin J Chinchwadkar hereby declare that this project report is the record of authentic work carried out by me during the period from 2nd May 2011 to 30th June 2011 and has not been submitted to any other university or institute for the award of any degree/diploma etc.
Signature
Date
Sachin J Chinchwadkar
CERTIFICATE
TO WHOM SOEVER IT MAY CONCERN
This is to certify that Mr Sachin J Chinchwadkar, a student of SASMIRA’s Institute of Management Studies and Research and pursuing two years full time Masters of Management Studies (MMS), underwent two months of internship with us from 2nd May 2011 to 30th June 2011.
During the internship, Mr Sachin J Chinchwadkar has successfully completed the project titled “Future and Scope of Online B2B Marketing” under the guidance of Mr. Nitesh Kumar (Sales Manager).
Date:
(Signature of the Company Guide)
CERTIFICATE OF THE GUIDE
This is to certify that Mr. Sachin J Chinchwadkar of SASMIRA’s Institute of Management Studies and Research has successfully completed the project work titled “Future and Scope of Online Marketing” in partial fulfilment of the requirement for Master in Management Studies as prescribed by Mumbai University. This project report is the record of authentic work carried out by him during the period from 2nd May 2011 to 30th June 2011 under my guidance.
Signature
Date:
Dr. Tandon Kamal
ACKNOWLEDGEMENT
It is my privilege to express my gratitude and respect to those who guided and inspired me in the completion of this project. I am deeply indebted to my project guide and Director of the SASMIRA’s Institute of Management Studies and Research Dr. Tandon Kamal for giving me this opportunity to undergo my project in his esteemed organization and for his timely suggestions and valuable guidance.
I also want to give thanks to Mr. Nitesh Kumar They constantly encouraged me and showed me the right path from day one till the completion of my project.
I am grateful to the Director, Faculties, administrative staff and the librarian of SASMIRA’s Institute of Management Studies and Research for providing me all the support required for successful completion of my project.
Sachin J. Chinchwadkar
INDEX
CHAPTER NO
1 1.1 1.2 1.3 1.4 1.5 1.6 1.7
CHAPTER NAME
INTRODUCTION
EXECUTIVE SUMMERY SELECTION OF THE TOPIC SCOPE OF THE STUDY OBJECTIVES OF THE STUDY LIMITATIONS OF THE STUDY RATIONAL OF THE STUDY RESEARCH METHODOLOGY
PAGE NO
1 2 3 4 5 6 7 8
2 2.1 2.2 2.3 2.4
BACKGROUND OF TOPIC
IMPORTANCE OF ONLINE BUSINESS ONLINE MARKETING ADVANTAGES AND LIMITATIONS OF ONLINE MARKETING BUSINESS TO BUSINESS MARKETING
16 17 19 21 22
3 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8
PROFILE OF THE ORGANISATION
WHAT IS INDIAMART.COM ? CORE VALUES OF INDIAMART QUALITY POLICY OF INDIAMART BENEFIT S OF INDIAMART INVESTORS OF INDIAMART BOARD MEMBERS OF INDIAMART ACTIVITIES OF INDIAMART FACT SHEET OF INDIAMART
24 25 26 27 28 32 33 35 36
CHAPTER NO
4
CHAPTER NAME
ANALYSIS OF DATA
PAGE NO
40
5 5.1 5.2
CONCLUSION AND RECEMMENDATIONS
CONCLUSION RECOMMENDAT IONS
52 53 54
6 6.1 6.2
APPENDICES
QUEST IONNAIRE BIBLIOGRAPHY
55 56 58
CHAPTER-1
1.1 EXECUTIVE SUMMERY
As par the curriculum of Masters of Management Studies, I have to do a summer project in any organization. IndiaMART Intermesh Ltd. appointed me for project work. The Main objective of the project is to find out The Future and Scope of Online B2B Marketing. With this primary objective, I started my project work under the guidance of respected Sir, Mr. Nitesh Kumar (Sales Manager). The duration of my project was 60 days. I have done my project work in Fort and its nearby areas of Mumbai. Main motive of selection of this topic is this sector is still new in the Indian SME’s. I found greater scope for study in this area. While doing the project I came to know about existing customer behavior and the strategies that companies uses while promoting their product. A pilot study was undertaken on a sample of 100 respondents. The aim of this study was to determine the contents of the questionnaire & evaluate if the outputs being delivered meet the objectives of the survey. I had to face with many constraints. Many businessmen are not ready give information easily. According to observations and finding, suggestions are given to the company so as to explore market opportunities for getting more share in market. Based on the data the Company should make strong strategies to conquer the market and must take into consideration direct and indirect competitors. Company can use this data to launch or upgrade the services for the benefit of company as well as of customer. During the project I came to know about the new and emerging sector of promotion. Company gives me training on presentation and communication skills as well of an ERP system of company. While collecting the data on field for project, I met entrepreneurs or manager of various sectors of business, the knowledge which I got through conversation with them is the most valuable thing which got during my project. I can use that knowledge in any part of life.
1.2 SELECTION OF THE TOPIC
Topic selection is the one of the important aspects of the project. It decides the course of action to be followed. The Topic selection should be such that it helps in understanding the marketing concepts clearly. My topic was given by the company itself. The Topic of my project was “FUTURE OF ONLINE B2B MARKETING IN INDIA”. This covers all thing related to the topic. The topic was Company Oriented so I surveyed businesses in fort and its nearby area Mumbai to collect all information regarding topic of the Project.
1.3 SCOPE OF THE STUDY
This research work is the result of customer oriented marketing. It is necessary to study systematically the different aspects relating to the marketing process with regards to fulfilling the expectation and needs of the customers. Marketing Research is a comprehensive subject and covers all activities and operations of a seller to his products to customers. The scope of marketing research has been steadily expanding in the recent period. Every activity directly or indirectly related to marketing of the goods and services comes under the purview of marketing research.
This Project covers mainly following areas? It is a Marketing research project to study “The Future of Online B2B Marketing” ? It consists of understanding of customer behavior while using to Automobile Sector ? Under this project the researcher had tried to find out both the Future of Online Promotion as well as The Level of Satisfaction amongst the current clients of IndiaMART. ? Project also helps to find out the target market for the company. ? The project will also enable the company in improving the promotional activities to capture the good and huge market share
? This product also helps the company to know whether they are lagging to
their competitors and what to do more to increase the sales and make customers awareness.
1.4 OBJECTIVES OF THE STUDY
The object of project is to know the future of online trading in India for businessmen. Research is not limited only up to the observation, it had much more scope. ? To study awareness of internet trading in Business Dealings. ? To find out how much percentage of businessman who are currently using internet for trading. ? To understand how company works. ? To find out queries of businessmen while dealing on internet. ? To use data in order to plan efficiently and effectively. ? To find out satisfaction of current customers of IndiaMART. ? To prepare database for the company.
1.5 LIMITATIONS OF THE STUDY
The survey suffers from following limitations: ? Limited number of businessmen surveyed. Market is big which requires a large number of samples to have a correct study. A sample size of 100 respondents is too small for it. ? Survey was conducted in limited area, i.e. Fort, and its nearby areas. ? Less chances of exact information about sales. ? It is very difficult to influence and get right information from old mentality businessmen. ? Time constrain.
1.6 RATIONAL OF THE STUDY
The study of “Future of Online B2B Trading in India” has its important worth and utility in future for organization as well as for me. Some utilities are as follows For organization: ? It will help the organization to know the current situation of awareness of internet trading to businessmen. ? It can promote the organization to improve sales than competitor’s brand by using data that I have identified. ? It can help company to take some new steps in the regarding the policies of sales and promotion.
For Myself: ? As a researcher, I got an experience to face the market condition. ? Area in which I worked is the area where most of SME’s are located. So, I got better exposure though the area is small. ? It will help me when I will go to work in the organization. ? I came to know about the new and emerging sector of online B2B trading. ? I came across with various professional software’s like ERP, etc. as well as I got training on various aspects like speaking skills, tele-calling skills, presentation skills, etc.
1.7 RESEARCH METHODOLOGY
Every Research is based on a standard sequence that determines its initialization, flow and completion. In my project I followed the following sequence of steps.
OBJECTIVES DEFINITION
DEVELOP RESEARCH PLAN
COLLECTION OF DATA
ANALYSE THE INFORMATION INFORMATIO0N
PRESENT THE FINDINGS
RESEARCH PROCESS
RESEARCH OBJECTIVES
RESEARCH DESIGN
SOURCES OF DATA
DATA COLLECTION
DATA ANALYSE
Research Methodology is a way to systematically solve the research problem. When we talk of research methodology we not only talk to research methods but also consider the logic behind the methods we use in the contexts of our research study and explain why we are using a particular method or technique and why we are not using other so that results are capable of being evaluated either by researcher himself or by others.
Generally Research Methodology follows the following steps:1. TO DECIDE THE OBJECT OF STUDY 2. TO DECIDE RESEACH DESIGN 3. TO DETERMINE THE SOURCE OF DATA 4. TO DESIGN DATA COLLECION FORMS 5. TO DETERMINE SAMPLING DESIGNAND SAMPLING SIZE. 6. TO ORGANISE AND CONCUCT FIELD SURVEY. 7. TO PROCESS AND ANALYSE THE CONDUCTED DATA 8. TO PREPARE THE RESEARCH REPORT.
1. TO DECIDE THE OBJECT OF STUDY
The main objectives of my project was to understand the future of online marketing mainly for B2B kind of business and also to understand critical factors in decision of a businessman while selecting media for promotion.
2. TO DECIDE RESEARCH DESIGN
Decision regarding what where when how much by what means concerning an inquiry or research study constitute a research design. “A Research Methodology is the arrangement of condition of collection and analysis of data in a manner that aims combine relevance to the research purpose with economy in procedure.”
Generally there are three types of research design: ? Exploratory research ? Descriptive research ? Casual research
As my Project was mainly about selection of media for promotion, therefore in this case descriptive research would come.
Descriptive research The major of descriptive research is description of the state of affairs as it exists at present. The main characteristics of this method are that the researcher has no control over the variables. He can only report what was happened or what is happening. My report was on Online Promotion, my work was to do a survey of the market and get the inside information about the awareness of internet marketing, need of online promotion, influencing factors in selecting media.
3. TO DETERMINE SOURCE OF DATA
The task of data collection begins after a research problem has been defined and a research plan chalked our. While deciding about the method of data collection to be used for study. The researcher should keep in mind that there are two types of data.
? ?
Primary Data Secondary Data
PRIMARY DATA Primary data are time consuming. But it gives accurate result if the sample is effectively selected. The data used is not outdated. There are several methods of collecting data, important ones are:-
? ? ? ?
Observation method Interview method Through questionnaire Through schedules
SECONDARY DATA Secondary data means that are already available i.e. they refer to the data which have already been collected and analyzed by someone. Secondary data is economical as the cost of collecting original data saved less time consumed for project compilation secondary data is also used for basis of comparison with the primary data. Here primary data was collected through questionnaire and personal interview of the customer.
4. TO DESIGN DATA COLLECTION:There are two types of mode to collect the data. They are:-
OBSERVATION METHOD The observation method is the most commonly used method. In the way we observe things around us but this sort of observation is not scientific observation. Become a scientific tool and the method of data collection for the researcher when it serves a formulated researcher when it serves a formulated researcher purpose, is systematically planned and recorded and is subjected to checks and controls. On validity and reliability under the observation method the information is sought by way of investigations own direct observation without asking question from respondents.
SURVEY METHOD In my project I used the survey method of collection of data. I had surveyed the market in Fort and nearby areas. In all thee I have surveyed the market and have asked questions to businessman to get data. There was a proper questionnaire which
was made and used.
5. TO DETERMINE SAMPLING DESIGN AND SAMPLE SIZE A sample design is a definite plan for obtaining a sample from a given population. It refers the technique or the procedure would adopt in selection items for the sample. The sample design is determined before data are collected.
There are two types of survey, they are:? ?
Sample survey Census survey
I had adopted the sample survey for my project with sample size of 100.
6. TO ORGANISE AND COLLECT FIELD SURVEY To do a field survey is an easy job. You need to first organize each and every aspect of the survey before your start with it. The first thing is you should know the product very well before you go to market. Its strength and weakness because that is what you are going to speak about the market. The next thing you should know about the company you belong. After completing the study of all these aspects, you should know the market from where your have to collect the data. After analyzing all these aspects and organizing yourself you should then go to the market to collect data. I covered all these aspects when I was doing my projects before compilation.
7. TO PROCESS AND ANALYSE THE COLLECTED DATA:The data after collection has to be processed and analyzed in accordance with the outline lay down at the time of developing research plan. In the process of analysis, relationship or differences supporting or conflicting with origin or how hypothesis should be subjected to statistical tests of significance to determine with what validity data can be said to indicate any conclusion.
8. TO PREPARE THE RESEARCH REPORT:I have taken great care in preparation of my research report. I have tried my best to maintain objectivity, coherence and clarity in the good research report is that it effectively communicates its resource findings.
COVERAGE I have covered the FORT and nearby areas under the Fort Branch of IndiaMART in Mumbai Region. In above I have visited 100 businessmen of various sectors of companies. They give me satisfactory reply.
CHAPTER-2
2.1 IMPORTANCE OF ONLINE BUSINESS
With the current boost in e-commerce, maximizing sales through online advertising is becoming an increasingly attractive choice for small-scale business owners. By advertising their products online the company can gain access to millions of potential buyers who, would not have known about them. Thus online advertising gives an extra competitive edge to marketing strategy. With the influx of modern technology, business cards are passing nowadays. Online advertising therefore is the most economic and efficient mode for self-promotion. Besides a website can afford the customers with the facility of contacting the company on their own time. This can boost up sales drastically. Internet marketing is the most crucial strategy for the small-scale companies also. It is a cost effective mode of operations to reach out to the potential customers easily. It puts the small companies on the same level with the big industries thus attracting a much larger market. In this present era of e-commerce, almost 93% of web searchers depend on search engines to get the information about the product or service that they are looking for. Thus listing the products or services on the search engines with the relevant keywords can ensure more traffic and higher sales volumes for their business. Besides this online advertising ensure more favorable returns than conventional forms of advertising like radio and TV commercials, snail mail etc. And this medium is much cheaper in comparison to others media. When a company opens a business in a particular area, it is able to draw customers initially. Then gradually the magic wears off. But when the brand name of the company is promoted through the World Wide Web, it ensures a much more sustained and higher conversion rate. Small businesses are unable to sustain huge losses. They require profitable returns on every cent of their investment. The mantra of success is to draw more customers, to extract more money from each customer, and to keep the existing customers for a longer period. All this can be effectively achieved through Internet marketing. Thus it is of the utmost importance for small companies to start promoting their business online. This enables them to meet their business objectives and to gain more profit.
Online advertising generates more traffic, which in turn results in more sales and more sales is leading to more profit. Most web users are unaware of the address of the particular website that would give them the required information. So they depend heavily on search engines. It is therefore crucial for the company's website to be listed in the topmost positions in search engine results. First of all every business needs custom web design ecommerce solution web development & SEO. The websites which are custom web design by the company itself or by a friend or relative who have completed a course in web designing are however unable to provide a strong foothold to the company in the search engine rankings. They lack the expertise that is required to endow the company with that mush of extra competitive edge. Therefore the procedure of designing and launching websites must be carefully considered. Nowadays there are various get-rich-quick schemes available in the market. Most of them are ineffective in providing a fruitful solution. However, small-scale entrepreneurs can take heart from the fact that Internet marketing is a tried and tested formula of success and fortune. Proper network marketing can ensure that a company's brand name is known on a worldwide platform. The small companies should realize the importance of getting their name publicized in the minds of people. These online ads help people to know that the particular company exists. More often than not the small companies are baffled by the question of how to increase their sales and business relationships. This problem can only be combated by effective web marketing strategies. Search engine optimization or SEO is crucial to ensuring maximum visibility of the company's website. This can be achieved by endowing the website with the right look and feel. Besides the content too, needs to attract the attention of the new visitors. Thus, online advertising imbues the company with a unique identity. It helps in optimizing its sales and making its brand logo known far and wide. E-commerce and Internet advertising opens up new vistas of development for the small companies who are striving to establish themselves on a global platform. Effective network advertising can thus catapult a company to the higher rungs of success and fame.
2.2 ONLINE MARKETING
Internet marketing, also known as digital marketing, web marketing, online search
marketing,
marketing or e-marketing, is the marketing (generally
promotion) of products or services over the Internet. In its simplest form, the term online marketing refers to using the power of Internet advertising to generate a response from your audience. Also known as Internet marketing or web marketing, online marketing is used by companies selling goods and services directly to consumers as well as those who operate on a business-to-business model. Internet marketing ties together the creative and technical aspects of the Internet, including design, development, advertising, and sales. Internet marketing also refers to the placement of media along many different stages of the customer engagement cycle through search engine marketing (SEM), search engine
optimization (SEO), banner ads on specific websites, email marketing, and Web 2.0 strategies. Common areas of interest within the field of online marketing include: 1) Affiliate Marketing: In affiliate marketing, a business recruits associates to promote the company's products or services. The associates receive a commission or other similar rewards for every sale, visitor, subscriber, or customer they bring to the company. Amazon.com Associates Central is an example of an affiliate marketing program that Amazon.com uses to encourage private website owners to bring traffic to its site.
2) Display Advertising: Display advertising involves the use of web banners or banner ads placed on a third-party website to drive traffic to a company's own website and increase product awareness.
3) Email Marketing: Companies that use email marketing send promotional emails directly to customers. However, it can often be hard to distinguish between spam and legitimate email marketing messages.
4) Interactive Advertising: Interactive advertising involves the use of animations and other graphic techniques to create ads that engage the viewer and invite participation.
5) Search Engine Marketing: Search Engine Optimization (SEO), paid placement, and paid inclusion are search engine marketing techniques that companies can use to increase their visibility in the search engine page results from Google and its competitors.
6) Viral Marketing: Viral marketing is a technique is which companies encourage customers to pass along information about their products or services. Company websites that let visitors email interactive games or funny video clips to their friends are an example of a viral marketing effort.
Online marketing, regardless of the exact method a company chooses to use, offers several benefits. It's convenient, affordable, and provides the opportunity for companies to track results as a campaign progresses. In addition, Internet marketing allows even the smallest of companies to compete in a global marketplace. Online marketing is often related to public relations, customer service, sales, and information management. However, it is important to remember that these fields can be considered separate specialties as well.
2.3 ADVANTAGES AND LIMITATIONS OF ONLINE MARKETING
Advantages:
Internet marketing is inexpensive when examining the ratio of cost to the reach of the target audience Companies can reach a wide audience for a small fraction of traditional advertising budgets The nature of the medium allows consumers to research and to purchase products and services conveniently. Therefore, businesses have the advantage of appealing to consumers in a medium that can bring results quickly. The strategy and overall effectiveness of marketing campaigns depend on business goals and cost-volume-profit (CVP) analysis. Internet marketers also have the advantage of measuring statistics easily and inexpensively; almost all aspects of an Internet marketing campaign can be traced, measured, and tested. The advertisers can use a variety of methods, such as pay per impression, pay per click, pay per play, and pay per action. Therefore, marketers can determine which messages or offerings are more appealing to the audience. The results of campaigns can be measured and tracked immediately because online marketing initiatives usually require users to click on an advertisement, to visit a website, and to perform a targeted action.
Limitations:
However, from the buyer's perspective, the inability of shoppers to touch, to smell, to taste, and "to try on" tangible goods before making an online purchase can be limiting. However, there is an industry standard for e-commerce vendors to reassure customers by having liberal return policies as well as providing in-store pick-up services.
2.4 BUSINESS TO BUSINESS MARKETING
Business-to-business (B2B) describes commerce transactions between businesses, such as between a manufacturer and a wholesaler, or between a wholesaler and a retailer. Contrasting terms are business-to-consumer (B2C) and business-togovernment (B2G). The volume of B2B (Business-to-Business) transactions is much higher than the volume of B2C transactions. The primary reason for this is that in a typical supply chain there will be many B2B transactions involving sub components or raw materials, and only one B2C transaction, specifically sale of the finished product to the end customer. For example, an automobile manufacturer makes several B2B transactions such as buying tires, glass for windscreens, and rubber hoses for its vehicles. The final transaction, a finished vehicle sold to the consumer, is a single (B2C) transaction. B2B is also used in the context of communication and collaboration. Many businesses are now using social media to connect with their consumers (B2C); however, they are now using similar tools within the business so employees can connect with one another. When communication is taking place amongst employees, this can be referred to as "B2B" communication.
Information Exchange:
In B2B marketing, you are often dealing with a buying organization that requires a significant amount of information during their buying process. Unlike in many consumer marketing situations where the need for clothes, food, or cleaning products may be well understood, in B2B marketing, that may not be the case at all. Early stage education on industry transition, technology changes, or regulatory changes can
be needed in order to best understand why your solution’s category even exists in the first place. This need to exchange information continues throughout the buying process. Buyers, when convinced that a potential solution exists to their business challenge, will then need to know which solutions to evaluate, what criteria to evaluate them on, and what evidence exists that one solution is better than the others. B2B marketers need to understand where in this education process their largest marketing challenge exists in order to better educate the buyer. Social media becomes a critical part of this information exchange in a B2B environment as social media forms a great medium through which to educate, converse with, and build relationships with prospective buyers who may be interested at a point in the future. Over time, a great social media strategy in a B2B organization will improve market perceptions of your organization in ways that other brand investments never could.
CHAPTER-3
3.1 WHAT IS INDIAMART.COM ?
IndiaMART.com is a leading B2B marketplace that assists buyers and sellers to trade with each other at a common, reliable & transparent platform. Started in 1996, we serve more than 700,000 sellers and over 50 million unique visitors every month, who use our marketplace to generate business leads, find suppliers, post trade offers, test market products, promote their brand and conduct business. With online catalogs, having more than 200,000 active products, we are the largest B2B marketplace from India. In addition to business directory, online catalog, trade leads and tenders, we offer personalized assistance to buyers and sellers for almost everything they need to buy/sell using IndiaMART.com. IndiaMART.com is India's largest online B2B marketplace for Small & Medium Size Businesses, connecting global buyers with suppliers. The company offers a platform & tools to over 1 million suppliers to generate business leads from over 5 million buyers, who use the platform to find reliable & competitive suppliers. The company has over 4000 employees located across 75 offices in the country. Its existing investors include Intel Capital and Bennett, Coleman & Co. Ltd. IndiaMART.com offers products that enable small & medium size businesses generate business leads (online catalogs/store-fronts), establish their credibility (third party verified trust profile) and use business information (finance, news, trade shows, tenders) for their business promotion. IndiaMART.com has won numerous awards over the years, which include coveted Red Herring Award, Emerging India Award, among others. The company has also been widely covered by media for its pioneering role in promoting SME business in the country.
3.2 CORE VALUES OF INDIAMART
For us they are simple and straight; take responsibility, work with passion and commitment, move ahead as a team and conserve the integrity. We firmly believe that core values keep organizations stable and focused to the common goal. Our core values have helped us achieve our mission to bring measurable benefits to our customers
RESPONCIBILITY Responsibility, not just of quality work but of continuous self-development, of our decisions and of our actions. This helps us think rationally and provides a sense of accountability to ourselves, our commitment to customers and to our colleagues.
PASSION Work at IndiaMART.com involves constant innovation and creativity. It involves a continuous thought process to get tangible benefits to our customers, taking into account the uniqueness of their purpose. Passionate people with a determination to make the difference are the ones who make this possible.
TEAM WORK "Together we can achieve the impossible" is our belief. Our success is a result of our team work. Experts from the field of management, marketing, IT, arts, content & various other disciplines work as a team on every project, every endeavour. Dedication, passion and teamwork are the true means to our mission fulfillment.
INTEGRITY We realize the importance of the job & information we handle. We understand the responsibility that each member of our team has to shoulder and we do that with highest levels of trust, honesty and integrity - of purpose and action.
3.3 QUALITY POLICY OF INDIAMART
We are the first Indian company in our domain to have received ISO 9001:2008 certification for overall quality management and the organisation’s ability to successfully "meet customer, regulatory and statutory requirements."
3.4 BENEFITS OF INDIAMART
BENEFITS FOR SELLERS:
For Indian sellers, IndiaMART.com has been the most successful platform for business generation since 1996. The sellers use IndiaMART.com for the following purposes:
? ? ? ? ?
Finding global buyers for their products and services Test marketing of new products globally for as low as Rs 12,000 Setup a 24x7, 365 days online catalog for as low as Rs 24,000 Invite interested buyers to buy their products through trade leads Brand building & generating potential sales leads through top listings,
search listings and advertisements
Sellers Tool
IndiaMART offers host of free and paid options to promote your business worldwide.
1) Create your FREE Website & Business Listing: Reach out to thousands of prospective buyers from all over the world. Create a dynamic (do-it-yourself) website for free & enhance your company visibility
? ? ? ?
Have your company listed in multiple product categories Advertise Unlimited Products for Free Add your company profile, infrastructure etc. Receive genuine business enquiries from buyers
2) Post Free Ads: Promote your offers & products to thousands of buyers sourcing in your industry.
3) Subscribe Trade Alerts: Get updates on latest purchase requirement from potential buyers in your industry.
4) Premium Membership: Starting from as low as Rs. 2000 per month, you can choose the most appropriate business promotion package from a variety of options. Kindly contact our seller support desk to know more about premium memberships.
BENEFITS FOR BUYERS:
For global buyers, IndiaMART.com is the largest & most user-friendly source of supplier identification, product sourcing and establishing business association. It serves varying needs of buyers including:
? ? ? ? ?
Finding manufacturers and suppliers of desired products Locating manufacturers for customized product development/manufacturing Identifying new products for their market Seeking offers from sellers for your immediate/long-term buying requirements Establishing long-term association with companies for distribution, OEM supplies, contract manufacturing etc.
?
Selecting the right service provider for various business needs and outsourcing of service requirements
Buyers Tool
1) Send your Buy Requirement: Let us know your purchase requirement in detail and receive quotations and responses from only pre-verified and genuine suppliers. How this benefits a buyer:
? ? ? ? ?
Save time in searching suppliers Receive responses only from suppliers who can meet your requirement Receive responses only for verified suppliers Receive responses from multiple suppliers Guaranteed NO spam or un-wanted mails
2) Search: IndiaMART offers various search tools to buyers for easy sourcing from India. Use below search tools as per your requirement-
a) Product Search - Search from over 10,00,000 products. Best suited for those who are looking for new / different products to sell in their market.
b) Supplier Search - Search from over 7,00,000 companies. Best suited for those who have finalized product & specifications and are looking for a company to supply the same.
c) Sell Offer Search - Search from over 1,00,000 active product offerings from various suppliers.
3.5 INVESTORS OF INDIAMART
Our current investors include:
INTEL CAPITAL
Intel Capital is a global commitment aimed at investing and supporting profitable enterprises that will drive internet growth, enable new usage models, and advance industry standards. Intel Capital made its first investment in India in 1998. It has invested in approximately 60 companies across 10 cities in the country. To help stimulate India technological innovation and the continued growth of the country's information technology industry, Intel Capital set up a US $250 million "Intel Capital India Technology Fund" in December 2005. In 2008, Intel Capital invested approximately $50 million in 9 companies in India out of which 6 were new investments - Emnet Sansara Media Pvt. Ltd, IndiaMART Limited, One97 Communications (P) Ltd., Vriti Infocom, Yatra Online, and Wortal Inc.
B. C. C. L. (Bennett, Coleman & Co. Ltd.)
Bennett, Coleman & Co. Ltd. provides media publishing services. The company offers newspapers, magazines, Internet, and electronic commerce information publication services. Its brands include The Economic Times, Times of India, Femina, Sandhya Times, Times FM, and Film fare. Additionally, it provides radio and television programs production and distribution, Web portals operation, and mobile value added services. Bennett, Coleman & Co. Ltd. was founded in 1838 and is based in Mumbai, India.
3.6 BOARD MEMBERS OF INDIAMART
DINESH AGARWAL
FOUNDER & CEO, IndiaMART.com
Dinesh Agarwal is the founder and CEO of IndiaMART.com, India's largest online B2B marketplace connecting Indian suppliers with domestic and international buyers. Founded in 1996, Dinesh is credited with leading IndiaMART.com through a decade and a half with an unblemished record of being profitable from d ay one - a feat no other online company in India has been able to emulate. IndiaMART is today arguably one among the world's top ten B2B marketplaces, as has been corroborated by a host of credible market surveys. Under Dinesh's dynamic and visionary leadership, IndiaMART today is a 4000 strong talented pool of human resource with pan-India presence covering over 100 cities. It's stellar credentials, robust business model and Dinesh's commitment towards the MSME sector has invited prestigious investors like the Times of India Group and Intel Capital into its fold for further expansion plans. A vigorous advocate of Indian SMEs, he has spearheaded several path breaking ideas to promote Indian SMEs globally. His contribution to Indian businesses is widely acknowledged by the media. Prior to pursuing his entrepreneurial instincts, this Computer Engineer from HBTI, Kanpur has honed his technical skills working for industry leaders such as HCL Technologies (America), Center for Development of Telematics (C-Dot) and CMC Limited before returning to India. He has an extensive experience spanning over 16 years in the field of Internet, Networking & Systems Development and Consulting.
BRIJESH AGRAWAL
COO, IndiaMART.com
Brijesh Agrawal is the Chief Operating Officer, IndiaMART.com. Being a part of the core management team, Brijesh has been the brainchild behind the creation of a plethora of innovative products of IndiaMART. Since his joining in December 1999, Brijesh has been providing eclectic strategies appertaining to Sales, Marketing, Operations and Human Resources. With an paranomic nine years of experience in the B2B world, he has provided the brainwave to many a professionals who are now playing the leadership roles in their respective fields. A management graduate from the University of Lucknow and an MBA from National Institute of Integrated Learning and Management (IndiaMART.com), Brijesh started his career as a Supply Chain Consultant at Miebach Logistics GmbH, Bangalore. An astute businessman, Brijesh's biggest strength is his entrepreneurial style of functioning and the ability to forge strong relationships with people. Mingling easily across levels and industries, he is acknowledged as a complete people's person, who likes to leads from the front.
3.7 ACTIVITIES OF INDIAMART
Leaders of Tomorrow Awards:
ET Now and IndiaMART.com invite you to submit your nomination for the ET Now - IndiaMART Leaders of Tomorrow Awards 2011. This definitive business awards will recognize the contribution of Micro, Small and Medium Enterprises (MSMEs) in driving India’s march to global stardom. This award will inspire future leaders to tread a path of success and triumph. It will celebrate the success stories and honor entrepreneurs who have transformed stumbling blocks into stepping stones driven by their passion, determination and undying spirit of entrepreneurship. The award will salute these entrepreneurs of substance, the business leaders of tomorrow.
Evaluation Process ? Ernst & Young is the independent process validation partner for evaluating the nominations. ? Top 5 companies in each category to present their success story before the Jury posts which winners to be chosen.
Inspirational Success Stories As a prelude to the Awards, a feature series of twenty seven episodes will showcase inspirational stories from the MSME space from across the country. These stories will celebrate the spirit of entrepreneurship and narrate fascinating examples where a little courage, a sound business plan and a good product have helped an entrepreneur to make his/her mark in the world of business. Nominate your company to be one of the Leaders of Tomorrow and also stand a chance to be featured as a success story on ET NOW.
3.8 FACT SHEET OF INDIAMART
We endeavor to maximize value for our customers by offering those efficient and cost-effective solutions for business promotion, process support and transaction accomplishment.
1996-97
? ?
IndiaMART.com, India's first online B2B directory, launched Successfully introduces free listing & free-query forwarding concept to familiarize Indian SMEs with benefits of Internet for business promotion
?
Accomplishes India's first e-commerce project for Nirula's (http://nirulas.com)
?
Achieves break-even within 6 months of the launch
1997-98
? ?
Successfully crosses 100 clients mark Initiates franchisee network program
1998-99
? ? ?
Launches Handicraft, Apparel & Finance channels Increases workforce to 40 B2B marketplace network surges to 1 million page views/month mark
1999-2000
? ? ?
Accomplishes 'Bharat On Line' - MTNL's online portal project Launches auto industry channel Opens branch office in financial hub of India - Mumbai
?
Crosses Rs 1 crore revenue mark
2000-01
? ? ? ?
Touches 5 million page views/month Crosses 1000 clients mark Registers 100,000 business queries/month Accomplishes prestigious online projects for HHEC, Jindal Organization, ModiCorp
? ? ?
Wins Britannica (BIG) Award for Travel.IndiaMART.com Profits increased by 128% over last year Company becoming limited, from InterMESH Systems, to IndiaMART InterMESH Limited
2001-02
?
Business World magazine declares IndiaMART.com as "the only profitable Indian Dotcom, with positive cash flows" [Cover Story: 14 May 2001 issue]
?
Adds exclusive services to its portfolio - Electronic Trade Offers & Request for Quotation / Request for Proposal
?
CNBC India recognizes IndiaMART.com as one of the only profitable dotcoms in India based on report by McKinsey
2002-03
? ? ?
Moves operations to state-of-the-art NOIDA development center Launches Exim.IndiaMART.com Crosses 200,000 business queries mark with 12 million page views
2003-04
? ? ?
Launches Trust SEAL to bridge the trust gap in B2B trade Crosses 3000 clients mark Touches 26 million page views per month, generating more than 300,000 business queries
2004-05
? ?
Becomes first ISO 9001:2000 company in its domain Surpasses 8000 clients mark
2005-06
? ? ? ? ?
IndiaMART.com completed ten successful years (1996-2006) Crossed 10,000 clients mark Launches MDC, a four-page online catalog for clients Implements corporate-wide WEBERP Acquires new office at B-6, Sec 8, NOIDA
2006-07
?
BCCL (Times of India Group) makes strategic investment in IndiaMART.com
?
Launches new Templated Product Catalogs
2007-08
? ? ? ?
Launches IndiaMART Sourcing Guide Commences International Trade Fair Participation initiative Wins 'Amity Corporate Excellence Award 2008' Wins 'Shiromani Yojana Puraskar' award
?
5,00,000 members registered on IndiaMART.com
2008-09
? ? ? ? ? ?
Intel Capital makes strategic investment in IndiaMART.com Wins 'Emerging India Award 2008' as a second runner-up Wins 'Red Herring 100 Asia 2008' award Launches Video Profiles for "Leading Suppliers" IndiaMART.com footprints cover over 100 towns in India Participates in more than 100 international & 200 domestic trade shows
2009-10
? ?
IAMAI declares IndiaMART.com as India's largest online B2B marketplace Mr. Deep Kalra (Founder & CEO of Makemytrip.com) & Dr. Nachiket Mor (President, ICICI Foundation) join IndiaMART.com Board of Directors
?
More than 300,000 products listed on IndiaMART.com
2010-11
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Takes a giant leap in SME space & launches 'IndiaMART Leaders of Tomorrow Awards'
? ? ? ?
IndiaMART.com member base surges to 1 million suppliers Celebrates 14 years of grand success Launches FREE tenders service - a first in India Being a socially responsible corporate, associates with "Meri Dilli Meri Yamuna" campaign
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The Smart Techie ranks IndiaMART.com among India's '25 Most Promising Internet Cos.'
CHAPTER-4
1) What tools are you mainly using for marketing of your products? a) Print Media b) Digital Media c) Audio/Visual Media
28% 53% 19% Print Media Digital Media Audio / Visual Media
Interpretation:
It shows the trend of promotion in business, they are relying more on print media than digital or audio/ visual. Digital media is the least preferable media currently. This trend may change in future.
2) Are you aware about online B2B marketing? a) Yes b) No
32%
Yes 68% No
Interpretation:
More number of people are aware about the digital marketing. Though only 19% of them are preferring to go with Online Marketing. It can help in finding out the target market.
3) Instead of IndiaMART, which company name you heard? a) Trade India b) Just Dial c) Alibaba d) Other
Interpretation:
The tough competitor for IndiaMART is Just Dial. Though just dial is not for B2B marketing, its popularity is more than any other Online B2B Portal. In case of only B2B portals, Trade India is the strong competitor of IndiaMART.
4) Are you registered with any online promotion company? a) Yes b) No
38% yes no
62%
Interpretation:
Here, majority of the company are not registered with any of the online promotion company. And those who are registered, many of them are not taking digital media seriously as a tool of promotion.
(Question Number 5, 6, 7 & 8 are only for IndiaMART Clients)
5) After getting registered with IndiaMART what changes have you Seen in your business? Ans:
While collecting answers for this question, following are some reviews of entrepreneurs:
? "Ever since we associated with IndiaMART.com, we have been receiving enquiries through its Buy Leads service and our business soared. ? "We have achieved good results in the domestic market with the support of IndiaMART.com."
? "After we registered with IndiaMART.com, our customer base increased
day on day."
?"We
have reached the right customers and received good business because of the services provided by IndiaMART.com."
Interpretation:
By considering above comments by various entrepreneurs, we can say that IndiaMART helps them in every aspect of business. For increasing sale as well as for promotion Online Marketing is benefited.
6) How much are you satisfied with the services of IndiaMART? a) Excellent b) Good c) Average c) Poor
10% 28%
16% Excellent Good 46% Average Poor
Interpretation:
Here you can see the satisfaction level of customers who are registered with IndiaMART. More than 60% of total customers are happy from online promotion and only 10% are not satisfied. From this scenario, you can see the credibality of the online promotion services.
7) Which part of our service you like the most? Ans: a) Sales Enquires b) Design c) Service
36%
38% Sales Enquires Design 26% Service
Interpretation:
You can compare the percentage of sales enquiries with other, majority of the clients like the enquiry generating services of IndiaMART. It shows the importance of online marketing in sales of business.
8) In which area are you facing difficulties while using the services of IndiaMART? a) Sales Enquires b) Design c) Service d) Handling
31%
25% Sales Enquires Design
8% 36%
Service Handling
Interpretation:
Here, you can see that most of the clients are facing problem in handling and design only. This is mainly because of less knowledge about internet and less awareness about online marketing.
9) Would you like to go with online promotion? a) Yes b) No
24%
yes 76% no
Interpretation:
Here you can see the interest of people; most of the people are willing to go for the online marketing of their products. Company can also find out the prospective clients in those people.
10) Your overall opinion about online promotion?
Interpretation:
While getting opinion on online marketing, I found some interesting data which is very useful for the company. Following are some opinion of customers on online marketing: ? Online marketing is a very good concept, but we are facing difficulties in handling our website. We are not aware about how to handle website and increase its awareness. ? "We experienced spiraling growth in our business since we got in touch with IndiaMART.com and Online Promotion" ? "We gained advantage over our competitors by going to Online Promotion. It is through them that we were propelled towards international market."
From the above opinions of entrepreneurs, we can say that many of the businessman’s are not aware with the true and complete knowledge of internet.
11) In future, which areas of business, you feel, online promotion is profitable most? a) Sales b) Marketing c) Awareness d) Communication
15% 38% 23% Sales Marketing Awareness 24% Communication
Interpretation:
From these figures also, you can see the importance of online promotion in sales of company. Majority of the people are thinking that online promption is useful mainly for sales in future.
CHAPTER-5
5.1 CONCLUSION
? Project was carried out in fort and its nearby area. Majority of SME’s in Maharashtra are located in this area only. ? IndiaMART is the leading company in the sector of online B2B marketing. ? There is a greater scope for the company in future, because 68% of people are aware with online B2B promotion but only 38% are using these services. ? Existing clients of IndiaMART are satisfied because more than 60% of clients are happy with the services given by IndiaMART. ? Company has some challenges in future if they want to capture the major area of market. They have challenges like unawareness in people, no technical knowledge, etc. ? Company has better services in case of generating business; company should focus on that and capture the market. ? Trade India is the biggest competitor for IndiaMART, because just dial is not the B2B portal for promotion.
5.2 RECOMMENDATIONS
On the basis of analysis and interpretation of the collected primary data, I have got some issue which pointed by the consumer. Here I suggest some points which are beneficial for company in making decision and strategy. ? Company should run awareness campaign in various areas to educate businessman. ? Company should give training to its new client, so that client should satisfy. ? Company should provide trial packages, so that people can demonstrate the use of online promotion in their business. ? Company can also provide packages at low rate. ? This sector is new and growing; company can also capture semi-urban areas by proper planning and co-ordination. ? Company should participate in the various functions or trade shows which are related with B2B marketing. ? Company should focus on customer retention, because many companies like Trade India and Just Dial are entering into the market.
CHAPTER-6
6.1 QUESTIONNAIRE
PERSONAL PROFILE: Name: Age: Post in Company: Sex:
BUSINESS PROFILE: Type of Business: Area Covered: Website Address (If Any): Turnover:
1) What tools are you using for the marketing of your products? a) Print Media b) Digital Media c) Audio/Visual Media
2) Are you aware about online B2B marketing? a) Yes b) No
3) Instead of IndiaMART, which company name you heard? Company Name:
4) Are you registered with any online promotion company? a) Yes b) No
(Question Number 5, 6, 7 & 8 are only for IndiaMART Clients) 5) After getting registered with IndiaMART what changes have you seen in your business?
Ans:
6) How much are you satisfied with the services of IndiaMART? a) Excellent b) Average c) Poor
7) Which part of our service you like the most? Ans:
8) What difficulties are you facing while using the services of IndiaMART? Ans:
9) Would you like to go with online promotion? a) Yes b) No
10) Your overall opinion about online promotion? Ans:
11) In future, which areas of business, you feel, online promotion is profitable? Ans:
6.2 BIBLIOGRAPHY
Reference Books: Marketing Management Basic of Marketing Selling Services Marketing Philip Kotler Dr. P. C. Pardeshi Cynthia L. Greene Kenneth E. Clow David L. Kurtz
Reference Links: www.google.co.in www.onlinemarketing.co.in www.indiamart.com www.alibaba.com
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