Intership Project

Topics: Customer service, Sales, Better Pages: 5 (922 words) Published: June 22, 2013
CONTENTS

1. Title
FOS Engagement Strategy to Increase Productivity at Reliance Digital & Croma

2. Engagement can be obtained at two levels:
Level 1:Customers
Level 2:FOS at stores

3. Productivity

4. Problems:
a) Uncontrollable Factors
b) Controllable Factors

5. Daily Work

FOS Engagement Strategy to Increase Productivity at Reliance Digital & Croma

Engagement can be obtained at two levels:

Level 1:Customers
Awareness of Schemes
Acquisition of Customers
Performance of service
Retention of Customers

Engagement at this level could be obtained and improved by better displays of Bajaj Finserv as a brand which helps in creating a lasting effect in the minds of the consumer and even help the sales force at stores to up sell because of the presence of easy finance available.

A win-win situation could only be obtained only when we as a company is able to deliver value to our customers.

Level 2: FOS at stores
Recruitment
Training(Most Integral Part)
Development
Awards and Incentives

A close knitted relationship has to be obtained between the sales force and the FOS. This can be obtained by active participation of the FOS at the morning meetings for the entire work force at the morning or afternoon session.

A better relation with the sales team would ensure better sales of our products and that will also give the sales team to sell products of higher price.

FOS are the first step in the entire procedure of giving loans and the training of such staff would improve the overall working of the entire procedure.

Productivity can be measured in the following ways:

There is a 40% share in finances of the total purchase. Out of 100 purchases 40 is through finance. Bajaj Finserv has to see that there is an increase in the output with the refinement of the various set procedure in place.

Productivity refers to the output per unit of input.

Input would be how the sales force approaches the clients, understands the customer’s needs and demands, and then helps in providing the payment option via cash, credit or finance and ultimately takes the client to the FOS at store who further helps the client.

Output is basically measured in the following ways :
1.Market Share- New Customers (61%)
2.Profitability- Existing Customers (39%)

Of the 17 cases closed in the period 13th May to 21st May 2013 at Reliance Digital Aundh.

Note – A link for the same is added to the mail.

Problems:

a) Uncontrollable Factors

1. Lower availability of stock at store
Change in the warehouse has resulted in lower availability of products offering at aundh Reliance Digital, resulting in lower footfalls and lower sales. Croma being at a walking distance from it takes full advantage of the same and is able to leverage on this shortcoming of Relance Digital.

2. Dissatisfied customers
Customer service takes a back seat at reliance digital resulting in lower purchases and repurchases. Customer satisfaction is the key to success in modern day retail where the competition is fierce and Reliance have to improve on this area to get itself in the stiff competition from its competitors in the face of Croma, Vijay Sales, Ozone.

The uncontrollable factors are the factors not in Bajaj Finserv’s control and there has to be taken care by the management at Reliance Digital.

b) Controllable Factors

1.Untrained FOS
An untrained FOS affects results in lower productive work and affects the entire brand image. As they are the first step in the process of giving an loan, utmost care should be taken in training an FOS which would ultimately help in minimizing of basic errors committed at the primary data collection level.

2.Completion of back dated work
Work should be completed as and when they come and postponement of work should be strictly avoided at all cost as it takes away the time of the FOS to concentrate on the walk in crowd.

These are the factors which are in total control...
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