SUMMER TRAINING PROJECT REPORTON

”Data Enrichment of IndiaMart

Database"SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR

THE MASTER’S DEGREE IN BUSINESS ADMINISTRATION

SUBMITTED TO:

INTERNAL GUIDE EXTERNAL GUIDEHimanshu Mohobia VivekanandAssit. Professor Manager, IMS Operation ManagerDehradun IndiaMART,InterMSEH Ltd.

SUBMITTED BY:

Shilpa Sudha

(13MBA170)

DEHRADUN

BATCH 2013-15

"Data Enrichment of India Mart

Database"

SUBMITTED BY:

Shilpa Sudha

(13MBA170)

SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR

THE MASTER’S DEGREE IN BUSINESS ADMINISTRATION

BATCH 2013-2015

ACKNOWLEDGEMENT

A summer project is a golden opportunity for learning and self-development. I consider myselfvery lucky and honoured to have so many wonderful people lead me through in completion ofthis project.

I wish to express my indebted gratitude and special thanks to Mr. Vivekananda Yadav, Operationmanager, India Mart Intermesh Ltd., Noida(UP) who in spite of being extraordinarily busy withhis duties, took time out to hear, guide and keep me on the correct path and allowing me to carryout my industrial project work at their esteemed organization and extending during the training.A humble ‘Thank you’ Sir.

I express my deepest thanks to & Mr. Gaurav Tiwari (Sales Head), Mrs. Alibha Bhatt, HumanResource Manager (HRM) for taking part in useful decision & giving necessary advices andguidance and arranged all facilities to make life easier. I choose this moment to acknowledgetheir contribution gratefully.

It is my glowing feeling to place on record my best regards, deepest sense of gratitude toemployees of IndiaMART. For their judicious and precious guidance which were extremelyvaluable for our study both theoretically and practically.

I express my deepest thanks to Prof. Himanshu Mohobia for their guidance and support. Hesupported to us by showing different method of information collection about the company. Hehelped all time when we needed and he gave right direction toward completion of project.

Place: Dehradun Shilpa Sudha

(2013-2014)

Sr . no. Content Page no.

1. Introduction

2. Company Profile

3. Literature Review

4. Research Methodology

5. Objective

6. Data Analysis and Interpretation

7. Findings

8. Limitations

9. Conclusion and Recommendation

10. Achievements

11. Bibliography

12. Questionnaire

Table of Graph

Sr. no Content Page no.

1.

2. Graph 1: Awareness of Indiamart among people

3. Graph 2: Satisfaction level among customer with Indiamart

4. Graph 3: Comparison of company services with competitors

COMPANY PROFILE

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.

Its existing investors include Intel Capital and Bennett, Coleman &Co. Ltd (Times Group), India's largest print media group.

IndiaMART Knowledge Services: An in-house unit involved in SME research, forecasting, analysis and education. It conducts independent surveys, etc. & holds workshops for SMEs to educate them on specific areassuch as Marketing, IT, etc.

The Board of Directors

Mr. DINESH AGARWALFOUNDER & CEO, IndiaMART.com

Dinesh Agarwal is the founder and CEO of IndiaMART.com, India's largest online B2B market place connecting Indian suppliers with domestic and international buyers. Founded in 1996, Dinesh is credited with leadingIndiaMART.com through a decade and a half with an unblemishedrecord of being profitable from d ay one - a feat no other online company in India has been able to emulate.

Mr. 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 innovativeproducts of IndiaMART.

Mr. DEEP KALRAFOUNDER & CEO,MakeMyTrip.com Deep Kalra

holds rich past experience at GE Capital, AMF Bowling Inc. and ABN AMRO Bank. He is a member of the Executive Council of NASSCOM and chairs the NASSCOM Internet Working Group.Mr. M. K. Chouhan MANAGING DIRECTOR, Mahendra & Ardneham Consulting (P) Ltd Mr. RAJESH SAWHNEY PRESIDENT, Reliance Entertainment Private Ltd.

Core values

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 toour customers.

Responsibility 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 fulfilment.

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 wedo that with highest levels of trust, honesty and integrity - of purpose and action.

Awards & Achievements

Success of our customers is our greatest achievement. Their confidence in us and our innovation,to give them the best, has got us applauds from various sources.

IndiaMART.com wins the Red Herring 100 Asia Awards 2008

IndiaMART.com nominated among the top three at Emerging India Awards 2008

IndiaMART.com's successful business model featured on CNBC India as analysed by McKinsey

Bestowed with "Amity Corporate Excellence Award" on the occasion of the Tenth Business International Horizon INBUSH 2008

Recognized by Business Money (UK's leading financial magazine) for IndiaMART's ten years ofsuccessful contribution to Indian businesses

Declared as India's only profit-making dotcom company by Business World(Cover story)

Special footage for IndiaMART.com's contribution in enabling e-business for exporters from Moradabad; Mr Dinesh Agarwal interviewed (India Tomorrow - BBC News)

www.indiantravelportal.com bags eighth "BIG" Award fromBritannicaindia.com

IndiaMART.com nominated for Britannica Internet Guide (BIG) Awards for excellence on Internet

IndiaMART.com listed among Top Indian Websites under Business-to-Business category by Ecomready Top Indian Site by www.indiatimes.com

Termed as 'Online Gateway to Indian marketplace'- The Economic Times

Best Travel Site- www.indiantravelportal.com by India Online: DD News

Site of the day - Handicraft.IndiaMART.com by Zee News

Listed in the Top Indian IT organisations survey by Dataquest

Nominated amongst the Top 5 Indian Sites by Microsoft.

QUALITY

We are the first Indian company in our domain to have received ISO9001:2008

certification for overall quality management and the organisation’s ability to

successfully "meet customer, regulatory and statutory requirements."

QUALITY POLICY we are committed to provide high quality web services &

solutions that ensure profitable returns to our customers. We strive to enhance the

value delivered to our clients by continually improving the quality of services

offered.

Products and services Dynamic Catalog

A comprehensive online marketing program that provides enhanced enquiry generation.

Trust Seal

Trust Seal is a business verification service that checks supplier's records of existence, credibility and trustworthiness for the benefit of buyers.

Star Supplier

With Star Supplier to your support, you can get premium positioning among suppliers in all the relevant categories.

Leading Supplier

Leading Supplier is the right choice for companies who have a right mix of infrastructure, management capabilities and experience in servicing global buyers.

Banner Advertising

Build your brand & drive traffic to your website with Banner Advertising

SWOT analysis of indiamart.com

Strengths The most powerful point in hand of the company is that they

provide the customized solution to the customers. The company has excellent distribution system. The company has built a strong image among the customers. The company experiences excellent Brand loyalty for its Products

from the customers. The company has made its Product range attractive, which lures

the customers, and consequently

Weaknesses Some products have high prices as compared to the other products. The company pays less attention towards the matured clients

Opportunities India has a vast potential market, which the company can get hold

up. The company can prove to be major threats for its competitor’s if it

increases marketing efforts. It should concentrate on the premium segment market.

Threats The major threat that company faces is from its competitors who

are introducing products with lower cost backed by aggressive promotional schemes to attract the customer.

The arrival of the MNC is a major serious threat for the company.

REVIEW OF LITERATURE

RESEARCH METHODOLOGY

OBJECTIVE OF THE STUDY

To find out the problems faced by IndiaMart in finding manufacturers and Suppliers of desired (lack of online business awareness)

To find out the problems faced by IndiaMart in identifying and developing new products and their market (Regarding Fund Allocation) products.

To learn the whole process involved in identification of product requirement, supplier search, and search of prospective customers. (Regarding location problem etc.)

SCOPE OF THE STUDY The scope of the study is limited to India mart, which isplace of global buyers with global suppliers It’s also prepares online catalog, trade leads and tender. After the completion of the reports we will come to know the whole process of India mart and how India mart has become largest online B2Bmarketplace.

RATIONALE OF STUDY Provides information about India Mart to the companies, howIndia Mart is helpful for the SME’S growth. Help to analysis operation of India Mart the report shall be helpful for the further in-depth study on the subject.

RESEARCH METHODOLOGY

Marketing Research is the systematic &objective identification, collection, analysis,

dissemination & use of information for the purposeof improving decision-making related to the

identification & solution of problems &opportunities in Marketing. A research process

consists of stages or steps that guide the projectfrom its conception through the final analysis,recommendations and ultimate actions. Theresearch process provides a systematic, planned

approach to the research project and ensures theall aspects of at the research project are consistentwith each other. Research studies evolve through aseries of steps, each representing the answer to a

key question.

INTRODUCTION TO METHODOLOGYThis chapter aims to understand the research methodology establishing a framework of evaluation and revaluation of primary and secondary research. The techniques and concepts used during primary research in order to arrive at findings; which are also dealt with and lead to a logical deduction towardsthe analysis and results.

RESEARCH DESIGNResearch design is a conceptual structure within which research was conducted. A research design is the detailed blueprint used to guide a research study towards its objective. It is a series of advanced decision taken together comprising a master plan or a

model for conducting the research in consonance with the research objectives. Research design is needed because it facilitates the smooth sailing of the various research operations, thereby making research as efficient as possible yielding maximum information with the minimum effort, time and money.

( I ) Exploratory ResearchTo gather preliminary information that will help define problemsand suggest hypotheses. (uses Secondary Data & Focus Groups )

( II ) Conclusive Research

Descriptive ResearchTo describe things, such as the market potential for a product or the demographics& attitudes of consumers who buy the product.(Hypotheses Testing) Experimental Research: (Causal Research)

To establish the cause-and-effect relationships

RESEARCH PROCESS

The research process has five distinct yet interrelated steps for research analysis.

1. Define the information needed.

2. Design the Exploratory, Descriptive and/or Causal phases of the Research.

3. Specify the measurement and scaling procedures.4. Construct and pretest a Questionnaire (interviewing form) or an appropriate form for Data Collection.5. Specify the Sampling Process & Sample Size.6. Develop a plan of Data Analysis.

Each step is viewed as a separate process that includes a combination of task, step and specific procedure. The steps undertake are logical, objective, systematic, reliable, valid, impersonal and ongoing.

EXPLORATORY RESEARCH The method I used for exploratory research was Primary Data, Secondary data

PRIMARY DATA

New data gathered to help solve the problem at hand. As compared to secondary data which is previously gathered data. An example is information gathered by a questionnaire. Qualitative or quantitative data that are newly collected in the course of research Consists of, original information that comes from people and includes information gathered from surveys, focus groups, independent observations and test results. Data gathered by the researcher in the act of conducting research. This is contrasted to secondary data, which entails the use of data gathered by someone other than the researcher information that is obtained directly from first-hand sources by means of surveys, observation or experimentation. Primary data is basically collected by getting questionnaire asked to the respondents. Customer Satisfaction in 7 Steps

1. Encourage The Customer In Telephonic Dealings.

2. Respond to Messages Promptly & Keep Your Clients Informed

3. Be Friendly and Approachable.

4. Have a Clearly-Defined Customer Service Policy.

5.Attention to Detail (also known as 'The Little Niceties')

6. Anticipate Your Client's Needs & go out of Your Way to Help Them Out.

7. Honor Your Promises

DESCRIPTIVE RESEARCH

STEPS in the descriptive research

Statement of the problem Identification of information needed to solve the problem Selection or development of instruments for gathering the

information Identification of target population and determination of sampling

Plan. Design of procedure for information collection Collection of information Analysis of information Generalizations and/or predictions

DATA COLLECTION

Data collection took place with the help of filling of questionnaires. The questionnaire method has come to the more widely used and economical means of data collection. The common factor in all varieties of the questionnaire method is this reliance on verbal responses to questions, written or oral. I found it essential to make sure the questionnaire was easy to read and understand to all spectrums of people in the sample. It was also important as researcher to respect the samples time and energy hence the questionnaire was designed in such a way, that its administration would not exceed 4-5 mins. These questionnaires were personally Primary Research was based on the Telephonic Session (Questionnaire Session), it was B2B and B2C, most likely questions asked is as followed

1) What is your name?2) What is type of company?3) What is the company description?4) What is the designation of the contact person?5) What is the e-mail id, website, contact number, fax number, address?6) How many employees are working in your organization?7) What type of product /services do they have?

DETERMINATION THE SAMPLE PLAN AND SAMPLE SIZE TARGET POPULATION

It is a description of the characteristics of that group of people from whom a course is intended. It attempts to describe them as they are rather than a describer would like them to be. Also called the audience the audience to be served by our project includes key demographic information (i.e.; age, sex etc.).The specific population intended as beneficiaries of a program. This will be either all or a subset of potential users, such as adolescents, women, rural residents, or the residents of a particular geographic area. Topic areas: Governance, Accountability and Evaluation, Operations Management and Leadership. A population to be reached through some action or intervention; may refer to groups with specific demographic or geographic characteristics. The group of people you are trying to reach with a particular strategy or activity. The target population is the population I want to make conclude an ideal situation; the sampling frames to matches the target population. A specific resource set that is the object or target of investigation. The audience defined in age, background, ability, and preferences, among other things,for which a given course of instruction is intended.

SAMPLE SIZEThis involves figuring out how many samples one need. The numbers of samples you need are affected by the following factors: Project goals

How you plan to analyze your data? How variable your data are or are likely to be? How precisely you want to measure change or trend? The number of years over which you want to detect a trend? How many times a year you will sample each point? How much money and manpower you have? I have targeted 50 people for the purpose of the research. The

target population influences the sample size. The target population represents there Bangalore. . The people were from different professional backgrounds. The details of our sample are explained

in chapter named primary research where the divisions are explained in demographics section.

SIGNIFICANCE OF STUDY

Every research is conducted to fulfill certain objective and these objectives in turn fulfill some purpose. The need of the study arises because of the reason that a trainee must understand the company, its achievement s and t asks, product s and services and also to collect information about its product s and services offered to customer through collecting their views as per t heir percept in about company. So that, after understanding and collecting information about the organization performance in eyes of customer, a trainee will be able to work well for the organization. This hand on experience helps him in identifying the critical factor of changing consumer perception. It provides a feedback to the organization about their sales schemes and what impact dose it hason the consumer. It helps the firm acquire a better understating of the buyer thinking. The very essence of every project related to marketing isproviding a view to management for chalk out the organization. So that they can maintain a viable fit between the organization objective, skill and resources and its changing market opportunities. Also give proper shape to the company business target profit and gowth. It also aids he formulation of marketing mix, decision on each element of marketing mix, product, distribution and promotion and pricing etc. need the support of marketing research.

LIMITATION OF THE STUDY

The most likely argument is not getting enough return on their investment so it’s difficult for them to invest at this point of time. Some of the customers are satisfied with the present status of their business.

They don’t want to expand further due to limited resources or lack of vision and to avoid risk. For e.g. if company gets regular order from government, shows no interest to online promotional services. The price factor also plays key role in generating leads because aware customers are likely to respond to that services which offer maximum advantage at minimum cost. For e.g. trade India .com provides almost same services but at considerably low amount as compared to indiamart.com. Some of the clients are not able to afford the cost or price that indiamart.com offers. It necessities keeping record of their status at regular interval. For e.g. with the help of appointment at regular intervals, the probability of converting the prospect into regular client can be found out. Many of the clients had bad experience as a result they have withdrawn from it. The most likely reasons are unsatisfactory inquiries and fake inquiries. Some of them had suffered heavy losses by accepting those fake enquiries. Most of the organization is controlled from their respective headquarters as are sult the decision remains pending for a long period of time. Regular follow up is required to maintain their proper status. Some of the organization have their own web pages and also have contacts of website developers who help them to develop website for companies in more cost effective way.

DATA ANALYSIS AND INTERPRETATIONAwareness of IndiaMart among the people80%20%

Graph 1: Response of people

Interpretation:

Although there is sufficiently high brand equity among the target audience yet, it is to be noted that from 100 customersonly 14% are aware about the facilities provided by IndiaMart and rest 86% are not aware of the facilities provided by the company meaning thereby, that, the company should concentrate more towards promotional tools and increase its focus on product awareness along with brand awareness.

Graph 2: Result of satisfaction level among customers with IndiaMart

Interpretation:

Here we can easily see that from 100 customers, 72% are satisfied with the services of the company but apart from them rest of 28% is completely dissatisfied with the services of the company. This pie-chart corroborate the fact that Strategic marketing, today, has gone beyond only meeting Sales targets and generating profit volumes. It shows that all the competitors are striving hard not only to woo the customers but also to make them Brand loyal by generating customersatisfy Once the customer will be satisfied then only they will become loyal otherwise the company not only loses thembut also will their reference customer.

Graph 3: Result of company services is better than competitors

Interpretation:

While asking about whether the INDIAMART services are better from the other competitors or not the response I got from the respondents that only 2% were highly agree 14% were agree, 46% were neither agree nor disagree, 33% were disagree while 5% were highly disagree. The respondents who were highly disagree was the result of delay in services and more charges as compared to other competitors.

FINDINGS

The IndiaMart is lacking in the areas of services promotion, it should redesign its promotional strategies to capture more market. The company will haveto provide the customer experts knowledge in broader way i.e. to each needful person when needed. The company should lower its brokerage charge in order to gain more customers. The company should increase the number of advertisement through various media to remind present as well as to aware new customer about its services. The company should solve the problems of the customer’s quickly because delay in this will make them dissatisfied and they will not provide the reference of any customers. The company should organize seminars for new as well as existing customer in order to make existing customer delight by providing some gifts. This will act as a customer acquisition program.

LIMITATIONS

Following are some limitations which affect our performance in the organization. Indiamart.com is providing eminent facilities so as to increase and maintain the performance of each and every employee in the organization.

The basic problem that everyone faces today is of recession. The same case is with small scale sectors. The most likely argument is not getting enough return on their investment so it’s difficult for us to invest at this point of time.

Some of the customers are satisfied with the present status of their business.

They don’t want to expand further due to limited resources or lack of vision and like to avoid risk. For e.g. if company gets regular order from government, shows no interest to online promotional services.

The price factor also plays key role in generating leads because aware customers are likely to respond to that services which offer maximum advantage at minimum cost. For e.g. tradeindia.com provides almost same services but at considerably low amount as compared toindiamart.com.

Some of the clients are not able to afford the cost or price thatindiamart.com offers. It necessitates keeping record of their status at regular interval. For e.g. with the help of appointment at regular intervals, the probability of converting the prospect into regular client can be found out.

Many of the clients had bad experiences as a result they have withdrawn from it. The most likely reasons are unsatisfactory inquiries and fake inquiries. Some of them had suffered heavy losses by accepting those fake inquires.

Most of the organizations are controlled from their respective headquarters as a result the decision remains pending for a long period of time. Regular follow up is required to maintain their proper status.

The absence of respective departmental head because of meetings or on leave requires follow up on continuous basis.

Some of the clients are very satisfied with their business as they are generating enough business locally.

RECOMMENDATION

Company should have a scheme of rewards and recognition to employees and the field persons to boost their motivation.Rs24000 promotion charges are too high when targeting a corporate so the company should be flexible on this amount.

After sales services and follow up calls are important for getting new references so trained telesales should be appointed for this purpose whose sole work should be to make feedback calls.

Make the complaint process and complaint redressed process easy so that there is a scope of improvement to identify regions where promotions are required. The company needs to go for aggressive advertisement campaign Increase two way communications between the company and the client Company should contact with their clients regularly for knowing the problems faced by them.

This will result in additional customer base by getting further references from satisfied clients. The Company should give training to the customers and keep seminars for the customers.

CONCLUSION

The main purpose of Summer Internship Program (SIP) is to gain practical knowledge and apply our skills in practical and real environment. It is the time when we have to sharpen our skills, abilities and knowledge which would help me in getting final placement. In Indiamart.com, I have got an opportunity to explore my potential. By preparing extensive research reports we have attained fundamental knowledge of online promotional services, its scope and its importance in coming years. I have also come across various technicalities related to online promotional services. I am very confident that after completing my internship in Indiamart.com Company I would have mastered in various online promotional services.

BIBLIOGRAPHY

BOOKS Marketing Management: - PHILIP KOTLER 13th Edition, 2009,

Prentice Hall of India Ltd., New Delhi. Marketing Management:- V.S RAMASWAMY AND S.

NAMAKUMARI Marketing Research: - DR. C.R. KOTHARI

NEWSPAPER AND MAGAZINE Business World The Economic Times Business Standard Business line

WEBSITES www.IndiaMart.com www.google.com www.investopedia.com www.wikipedia.com

QUESTIONNAIRE

[1] Company Name

[2] Address

[3] Contact number

[4] Email ID

[5] Website

[6] Nature of Business

o Manufacturero Exportero Domestico Suppliero Export houseo Import houseo Buying agento Stockiesto Wholesalero Retailero All

[7] Legal Status of your Business?

o H.U.Fo Partnershipo Private Ltd Co.o Proprietorshipo Limited Co.

[8] What kind of source of media you use to promote your company?

o Print mediao Personal referenceo Online promotion services

o Otherso Exhibition/ trade shows

[9] Have you ever opted for online promotion services?

o Yes o No

[10] Do you know the companies which provide online promotion services?o Yes o No

If, yeso Indiamart.como Tradeindia.como Exportersindia.como Alibaba.como Madefromindia.como Indianyellowpages.com

[11] How much amount of money you spend to market your product/service annually on Internet?

o Less than Rs.10000o Rs.10000-20000o Rs.20000-30000o Rs.30000 and More

[12] Are you interested in promoting your services online?

o Yeso No

[13] At which level would you like to promote your product?

o Localo Nationalo Global

[14] Are you satisfied with the present service provider?

o Yeso No

[15] Are you interested to participate in Exhibition/ trade shows?

o Yeso No

[16] Why would you like to advertise in Trade shows?

o Maximum exposure through international distributiono Global buyers preferred choiceo Minimum cost per business enquiryo International quality print, paper and designo Ensure virtual participation in major o International trade shows

[17] Does your service provider provide you with existence verification, credibilityfactors and statutory approvals?

o Yeso No

[18] Are you aware of online promotion services provided by INDIAMART.com?

o Yes o No

[19] Rank the following?

o Indiamart.como Tradeindia.como Exportersindia.como Alibaba.como Madefromindia.como Indianyellowpages.com

[20] Rank the following benefits which would you like to reap from the internet? Tap new markers across the world

o Reach potential buyers from over 200 countrieso Lowest client acquisition costo Be available to buyers 24 x 7o Get a global presenceo Showcase an entire range of products