4.final project report - crystal mirage (main body)corrected

97
ABSTRACT AND SUMMARY Gift industry is a very fast emerging industry, and is expected a very high growth rate of 7-13% reaching to Rs 1700 Cr in the fiscal year 2010-11 in India . Crystal Mirage Pvt Ltd, deals in the personalized and the corporate gifts of crystals, metals, acrylic and polyresin which are 100% customizable. Core competency of Crystal Mirage Pvt Ltd is crystals. The project entitled, is based on corporate gifts of Crystals. Project entitled, ‘Building customer relationship with the IT and Automobile Industries for Crystal Mirage Private Limited, Pune’ was carried out to find the problems faced by the company in maintaining the relationship with the corporate customers. Project was totally based on the corporate market. A market research was conducted, and the responses from the corporate executives (C.E.O., MD, HR Manager, Marketing Manager Etc) of IT and Automobile industries of Pune region were collected through personal interview, questionnaire, tele-calling. Data were also collected through Crystal Mirage Pune, Websites etc. 1

Upload: rafatjamils

Post on 23-Nov-2014

122 views

Category:

Documents


5 download

TRANSCRIPT

Page 1: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

ABSTRACT AND SUMMARY

Gift industry is a very fast emerging industry, and is expected a very high growth

rate of 7-13% reaching to Rs 1700 Cr in the fiscal year 2010-11 in India .

Crystal Mirage Pvt Ltd, deals in the personalized and the corporate gifts of

crystals, metals, acrylic and polyresin which are 100% customizable. Core competency of

Crystal Mirage Pvt Ltd is crystals. The project entitled, is based on corporate gifts of

Crystals.

Project entitled, ‘Building customer relationship with the IT and Automobile

Industries for Crystal Mirage Private Limited, Pune’ was carried out to find the problems

faced by the company in maintaining the relationship with the corporate customers.

Project was totally based on the corporate market. A market research was

conducted, and the responses from the corporate executives (C.E.O., MD, HR Manager,

Marketing Manager Etc) of IT and Automobile industries of Pune region were collected

through personal interview, questionnaire, tele-calling. Data were also collected through

Crystal Mirage Pune, Websites etc.

It was found, that company was facing severe problems in maintaining the

customer relationship with both existing and new customers. Hence, it was the need of

the hour, to find the problem and their respective solutions. It was found, that the number

of dissatisfied customers were increasing, which were mainly due to low quality and late

delivery of products.

It is highly recommended by the researcher, to follow the proper CRM (Customer

Relationship Management) by the Crystal Mirage Pvt Ltd, and follow the customer

centric organizational structure, rather than present organizational centric structure. Many

recommendations for improving CRM are included in the project, which can be followed

by the company to maintain better customer relationship.

1

Page 2: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

CHAPTER - 1

PROFILES

2

Page 3: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

1.1 INDUSTRY PROFILE

1.1.1 Gift Industry

Growing Gift Market..... People buy and give gifts to build and intensify their association with the recipient. In other words, the gift itself becomes means to strengthen relationships.

The world of Gift industry is complex and varied. It is no doubt an immense

market place and a majestic sourcing opportunity under one roof for all sorts of buyers.

Buyers with novelty ideas, creative products and productive business opportunities today

stand a chance in this market.

With the prospects of growing demand also lifestyle companies, silverware

manufacturers and importers of glassware and porcelain have also entered the gift market

thus giving an extra boost to the market.

The ups and downs in the gift industry have also been seen because of the

particular states capacity to spend. While Mumbai is the biggest spender, Delhi doesn't go

beyond certain limits and thus lacks sophistication. The gift industry as per experts see a

huge turnout of imported products too. Many foreign places like Honk Kong, Japan,

Korea etc have entered the Indian gift market. The Taiwan Gifts and Novelty Industry

have said to make a mark in the world competition. Their products have been able to

maintain a fine reputation in the other overseas markets. Their concept of making

innovative products at less expensive prices has proved to be a threat to many developing

countries.

But despite the competition from neighboring market and constant changing

trends the industry continues to strive ahead with unfailing efforts. There are various

practicalities to consider after you have bought a gift like, effective wrapping and

packaging which creates an excellent impression.

3

Page 4: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

1.1.2 Changing Buyer's Attitude.

The outlook of Indian buyers has begun to change. Price no longer is the major issue

and nor it is given of greater importance except in some parts. A product quality, design

and it's outstanding and useful features have instead become the centre of attraction

today. Because of this changing attitude today the value and standard of the gifts and it's

industry has been elevated.

Today buyers with creative ideas, new products innovations and profitable

business scopes have no stoppage to flourish in the market. Therefore capturing a greater

share of the gifting marketplace has now become a significant marketing opportunity for

product marketers and retailers.

1.1.3 Corporate Gifts

The gift items manufactured specifically for meeting corporate requirements have

increased tremendously. Meant for gifting on varied specific occasions, corporate gifting

has become the recent fad in the corporate world where it has become almost mandatory

to acknowledge ever achievement of the employees. Be it the valued clients or the hard

working employees, corporate gifts are meant to appreciate their work.

Corporate gifts keep the morale of employees on higher side and bring

recognition and customer loyalty to the brands.

A marketing survey related to corporate gifts indicates that although economic

downturn has resulted in major cuts in advertising spending, the expenditures on

corporate gifts have gone down only marginally.

Studies reveal how popular corporate gifts are among various strata of people.

1.55% of people have revealed that they keep their promotional products for more

than 1 year.

Around 2.76% of people remembered the name etched on the promotional

product they had received a year back.

4

Page 5: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

And a greater percentage of them revealed that they kept their products as they

were useful to them.

This shows how people remember the promotional gifts given to them. This shows

how people will start relating to the product and remember the company name. So, the

next time they see any product with the same company name, it instantly strikes them and

they will show loyalty towards the new product of the same company and thus promotes

sales for the chain of products that belong to the same company.

5

Page 6: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

1.2 COMPANY PROFILE

Crystal Mirage Pvt Ltd. is the luxury brand pioneering 2D, 2.5D & 3D precision

laser engraving in crystals. From beautiful glassware, tableware, structural monuments,

and hand cut figurines to mementos and engravings of favorite maxims, Crystal Mirage

meet your every need.

‘Crystal Arc is the parent company of Crystal Mirage, which is located in Dubai.

Crystal Mirage Pvt. Ltd, started its business in Mumbai, India in 2006 with a mission

to offer a unique fusion of photography, 3D CAD, computer software with German

LASER technology. Its head office and the production house is located in Kandivili,

Mumbai. Crystal Mirage gives life to the crystal, by creating unique designs and shapes

to the photo related Gifts. So look no further for the ideal gift.

USP (Unique Sales Preposition):- Only one in Asia to do 2D,2.5D and 3D engraving

with 100% Customization using German Technology.

Crystal is the core competency of Crystal Mirage but, in the world of diversification it

has to expand its competencies. Due to which, Crystal Mirage has already diversified into

Crystals, Metals, Acrylic, Wood, Polyresin and Polycarbonate.

Company’s special 3D scanners can capture one or more person's head and shoulders

and then the images are etched inside solid optically perfect crystal.  It can also provide

with traditional portrait photograph, which can be converted into a 3D head image.

Company’s management team has more than 25 years of experience in developing,

managing and operating venues in theme parks, malls and at other world famous tourist

attractions.  Technical team has over 10 years of combined experience. 

Crystal Mirage opened their first retail outlet at Inorbit Mall, Mumbai in 2006. This

was the first location in the Asia to etch a person's 3D face in a crystal within minutes

6

Page 7: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

after taking a digital photo of the customer.  Currently, company have multiple

locations at leading Airports and prime malls in India and are continuing to open at

different locations.

1.2.1 Production Capacity

Production capacity of Crystal Mirage is largest in Asia, with engraving capability

of more than 2000 pcs of medium size crystal per day and about 3000 pcs of Key Chains

a day.

1.2.2 Clients Base

List of clients of Crystal Mirage is vast, but some of their prestigious project includes:

International:

Award for the honorable William Jefferson Clinton (Bill Clinton)

presented by the American university of Dubai.

Life time achievement award to his highness Saudi prince Al Walid Bin

Talal in the IT Industry. 

Awards and corporate gifts for major international brands like Intel, HP,

Kodak, LG electronics, Panasonic, Honda, etc.

India :

Star Plus, ZEE TV, DRDO, NDA, Indian Navy, ONGC, Mcdonalds, Air

India, Jet Airways, Kingfisher, Etihad Airways, Singapore Airlines, UPS,

American Express Bank, ICICI, HDFC, HSBC, Citi Bank, AXIS Bank, Bank of

Baroda, Abby Awards, Reliance, Tata Indicom/ VSNL, Tata Motors, NSE, HDIL,

HUL, JCB, Castrol, Mahindra, Essar, Airtel, Vodafone, Fosters, Emmar, Johnson

& Johnson, Adlabs, Famy Care, Aditya Birla, Prism Cement, Intelinet, Uniros,

Patni Computers and many more. 

7

Page 8: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

1.2.3 Organizational Structure of Crystal Mirage Pvt Ltd.

Fig 1.2.3: Organizational Structure

8

Mr. Saifee GilitwalaChairman

Mr. Dharmesh ShahManaging Director

Crystal Mirage Pvt. Ltd. Departments at Head Office, Mumbai

Accounts

Mr. Ali Asgar FatakdawalaDirector

Designing ProductionCoordination HR/Admin/Ops Sales

Corporate

Spiritual

Franchise

Retail

Laser Engraving

Cutting

Splitting

Polishing

Sticking

Sand Blasting

Graphic Designing

3D Modeling

Packing DispatchQ.C.

Tele Calling

Event Management

E - Marketing

Stores

Purchase

Page 9: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

1.2.4 Standard Operating Procedure (SOP) of Crystal Mirage Pvt Ltd

SOP are the set of operating procedures, which has to be followed by Crystal

Mirage Pvt Ltd.

.

Fig 1.2.3: Flowchart of SOP

9

Corporate Inquiry

Budget Quantity Delivery Date

According to Client’s budget, show the products and pricing.

Give him the rates See how soon or late is the date, it will help you to close the deal.

Coordinator

Designer Manufacturing Department

Artwork Yes or No

Avoid sampling on cost.

Approval

Payments: 50% advance, 50% on delivery

Page 10: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

1.2.5 Composition of Crystal Mirage Pvt Ltd

Machines :

All machineries are German Make, which are only available with Crystal Mirage

in India.

Internal Laser Engraving

External Laser Engraving

Scanning : Personalized image for 3D.

Cutting and Polishing

Buffing

Grinding

Molding Machines

Table Mountain Drill Machine

Metal Grinding Belt

Manpower :

Crystal Mirage Pvt Ltd has a staff of more than 200 employees (Skilled &

Unskilled). It is now expanding its strength of manpower as the growth of

business demand more manpower.

Skilled manpower of Crystal Mirage help to get delivery on time, whether

it be packaging department, manufacturing, design or dispatch. All work

round the clock 24x7 to meet the demand and to satisfy the customers.

10

Page 11: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

1.2.6 Departments of Crystal Mirage Pvt Ltd:

Sales Department

(a) Corporate Sales

(b) Retail Sales

(c) Nano Franchisee/Franchisee

Coordinators: They are the only mediators who are in between the company and

all the other departments.

Design Department: All the artwork and the designs are created by the design

department, according to the client specification.

Manufacturing: Crystal Mirage Pvt Ltd, has its own manufacturing unit in

Kandivili, Mumbai. It has a manufacturing capacity in laser engraving of more

than 1000 pcs a day in India.

Packaging: Crystal Mirage Pvt Ltd have an in-house packaging system. They

perform different packaging according to the client’s requirements. Example:

Corrugated Boxes with magnet or press buttons, velvet Boxes if client demands,

Wooden, acrylic.

Dispatch: They have an efficient logistic team, who delivers the goods across

country in minimum time.

Quality Control Department: Each piece and packaging is checked with

perfection for client’s complete satisfaction.

Administration/Accounts & HR: Crystal Mirage have a highly qualified staff

for back office operations, and in-house job.

11

Page 12: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

1.2.7 Showrooms:

S. No. City Locations

1. MUMBAI

1. Mumbai Domestic Airport

2. Inorbit Mall, (Malad)

3. Infinity Mall, (Andheri)

4. The Hub, (Goregaon)

5. City Center, (Mumbai Central)

6. Phoenix Mill, (Lower Parel)

7. The Oberoi Mall, (Goregaon)

2. DELHI

1. Megacity Mall (Gurgaon)

2. Metropolitan Mall (Gurgaon)

3. Airport

3. BANGALORE

The Forum

4. PUNE

SGS MALL

5. CHENNAI

Airport

Table 1.2.6: Showrooms of Crystal Mirage Pvt Ltd

Upcoming Showrooms in India:

All International and domestic Airport

Cities like Hyderabad, Chennai, Delhi, Ahmedabad, Surat, Amritsar, and all

major states and cities.

12

Page 13: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Inorbit Mall, MaladThe

Oberoi Mall, (Goregaon)

Phoenix Mill, (Lower Parel) City Center, (Mumbai Central)

The Forum , Bangalore Metropolitan Mall (Gurgaon)

Mumbai Airport Infinity Mall, Andheri

Fig 1.2.7.1 Showrooms of Crystal Mirage Pvt Ltd

13

Page 14: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

1.3 PRODUCT PROFILE

Crystal Mirage has deep assortment of customized products, with the product

range of about 15000 different odd products. One of the most important features of the

products of Crystal Mirage Pvt. Ltd. is, that the products are 100% customizable. i.e.

products can be designed and manufactured according to the wish of the consumer, by

keeping in account of their budget.

Crystal Mirage divides its product range in to different product lines, they are as follows:

1. Spiritual Collections

2. Scale Models & Miniatures

3. Internal Laser Engraving

4. Desktop items

5. Awards & Trophies

6. Home Decor

7. Gifts & Souvenirs

8. Polyresin

14

Page 15: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

1.3.1 Spiritual Collections:

Crystal Mirage have a wide spectrum of unique Religious crystal ideas. Gifts

from the Religious Crystal Collection are full of blessings for both the recipient and the

giver.

The collection combines, religious/faith merchandise related to Hindu, Classical ,

Buddhism, Sikhism, Christianity, Islamic calligraphy with elegant modern forms in

high quality crystal and much more. Each exquisite piece is individually hand molded,

polished and etched to perfection.

15

Page 16: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Fig 1.3.1- Spiritual Collection

1.3.2 3D Scale Models & Miniatures:

Crystal Mirage has used its experience with crystals to commemorate ideas into

intricate designs and outstanding creations. Be it any object, from the famous mosques,

Temple, to maps of different countries, they can hand-craft them into exquisite crystals

that could serve as great gifts and mementos. The same designs and technology as the

real sculptures, these crystal desk size or sculptures renditions have all the content for a

fraction of the piece.

Fig 1.3.2- Miniatures & Scale Models

16

Page 17: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

1.3.3 Desktop Items:

Crystal Mirage has peeped into each and every aspect of personal and corporate

gifting. It has a variety of items related to the desktop. Some of them are illustrated

below:

Fig 1.3.3-Desktop Items

1.3.4 Internal Laser Engraving:

Products under this category are unique in themselves. In these products, the

engraving is done inside the solid cube using the laser. The LASER is used for generating

heat and the crystal is burned from inside with higher precision, and the engraving is

done. The laser engraving cannot be done over a glass as it will break.

Some of the products of internal laser engraving are as follows:

17

Page 18: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Fig 1.3.4- Internal Laser Engraving

1.3.5 Awards & Trophies :

Fig

1.3.5-Awards & Trophies

1.3.6 Home Décor Items:

Crystal Mirage, have a unique collection of lifestyle and home furnishing

products offering exceptional quality, choice, and value. Have an extensive line of

glassware for adorning your home and for special occasions. Its expertise enables us to

create perfect design to suit taste and budget.

18

Page 19: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Fig 1.3.6-Home Décor Items

1.3.7 Gifts & Souvenirs:

Crystal Mirage provide high range of gifts and souvenirs, which has lead content

of around 33-36%, because of which it has more shining.

Fig 1.3.7-Gifs & Souvenirs

19

Page 20: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

1.3.8 Polyresin:

Crystal Mirage, has also diversified itself in polyresin, so as to serve the different

customers with the affordable prices ( Rs 75/- to Rs 1500/-). Items involved in polyresin

are the standard items, and hence cannot be customized. But, they are most likely to be

gifted and used for the decoration purposes.

20

Page 21: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Fig 1.3.8-Polyresin

1.4 PRICE PROFILE

Prices of the products in Crystal Mirage, lies in the range from Rs 20/- to

Rs 3, 50,000/-. The pricing totally depend on the size and the artwork of the product and,

the order size.

Prices for retail and the corporate have much difference because, the quantity

demanded in corporate are much higher than the retail. So, due to the Economies of Scale

as the quantities of product demanded increases, the per unit price of the product

decreases.

In corporate, the prices of the crystal products can be discounted up to 50% of the

retail prices (Condition Apply). Hence, the price range adopted by Crystal Mirage Pvt

Ltd can serve almost all sections of the population.

Due to high product range, retail prices of some standard products are as follows:

1.4.1 Cubes:

Code Price Description Image

PRIMCU0444PI

550-600

40x40x40mm cube

PRIMCU0555PI

575-650

555cube

21

Page 22: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

PRIMCC0555PI

600-625

555 cut cube

Table 1.4.1: Prices of Cubes

1.4.2 Plaques & Trophies:

CRAMTR0CG101

1430/2100 /3800

Crystal Diamond Trophy 10.5"-12"-16"

CRAMTR0CG136

740-1200-2300

Crystal Victory Diamond Trophy 8"- 9"- 10.5"

CRAMTR0CG140

380/820 /1020/1430 /2100

Crystal Diamond KT Trophy 6.5"/ 8"/9"/10.5"/12"

Table 1.4.2 – Prices of Plaques & Trophies

1.4.3 Metal Crystal Fusion:

CRMTFS001001

8500Five Figure metal trophy crystal base & plaque

CRMTFS001002

2000 Single figure Metal Trophy with crystal base & Plaque

CRMTFS001003

2500Metal Trophy with wooden base

Fig 1.4.3 – Prices of Metal Crystal Fusion

1.4.4 Exclusive Mementos:

22

Page 23: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

CREM00000001

250060x60x100MM CUBE + OIL DROP + BASE

19MM TAPPER

CREM00000005

1800Size 10"

CREM00000013

3500Metal Hanshake with crystal Base & Black Base

Table 1.4.4 – Prices of Exclusive Momentos

1.4.5 Card Holder & Pen Stand:

CRDTCR001017

3000

Double half rounded palque cardholder with penstand

CRDTCR001018

1800

Diamond with base with penstand

Table 1.4.5 – Prices of Card Holder & Pen Stand

1.4.6 Polyresin:

E-9160 1000/-

E-9588 85/- (Per Piece)

E-9827 185/- (Per Piece)

23

Page 24: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

E-10301 400/-

Table 1.4.6 – Prices of Polyresin products

CHAPTER 2

TECHNICAL SPECIFICATIONS

24

Page 25: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

2.1 PRODUCT SPECIFICATION

Products of Crystal Mirage belong to three different categories:

2D Engraving.

2 ½D Engraving.

3D Engraving.

2.1.1 2D Image Etching/Engraving:

To do a 2D face or other 2D image all we need is a digital image from a digital

camera or a traditional photograph scan using a common image scanner.  We can etch

almost any 2D image inside a crystal. The file formats which company accepts are: JPG,

TIF, and BMP.  Engraving can be done for multiple people, full body shots, buildings,

picture of home, pets or almost anything.  Shown below is the 2D Image, of which the

side view of a 2D etch is not very deep rather, the frontal view is highly detailed.

Side View

25

Page 26: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Front View

2D face has Height & Width, but no depth

2D process is only 3 layers

Fig 2.1.1- 2D Engraving

2.1.2 2 1/2D Images with up to 10 Layers:

2 1/2D image process is a tremendous improvement over the traditional 2D

process.  Crystal Mirage is one of the few company's in the world that offers 2 1/2D

etching.  A standard 2D process typically has 3 layers.  2 1/2D process utilizes special

computer routines to make a traditional photo have up to 8 layers and the image appears

to have a 3D effect.  The 2 1/2D process only needs a scan of a standard photograph or a

image from a digital camera. 

2 ½D Process up to 8 Layers

Front View Side View

26

Page 27: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Fig 2.1.2-2 ½ D Engraving

2.1.3 3D Image Etching / Engraving:

The 3D etched image can be viewed from all sides. 3D Images in image library

are modeled using 3D imaging software.  Special 3D Scanners are used by the company

in its retail and reseller location for 3D Heads.  A traditional high quality photo portrait

can be converted into a 3D head image.  The 3D scanner takes an image of the front and

sides of a person's head. 

(i) 3D Head or Facial Image (ii) Side View

Fig 2.1.3- 3D Engraving

2.2 PROCESS SPECIFICATION

2.2.1 Laser Engraving

Crystal Mirage has introduced the latest technology to do laser engraving inside a

crystal piece. Be it a 2-dimensional or 3-dimensional design, they can engrave it to

customer likeness.

Laser engraving is the practice of

using lasers to engrave or mark an

object. The technique can be very

27

Page 28: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

technical and complex, and often a computer system is used to drive the movements of

the laser head. Despite this complexity, very precise and clean engravings can be

achieved at a high rate. The technique does not involve tool bits which contact the

engraving surface and wear out.

Fig2.2.1.1 - Laser Engraving Machine

This is considered an advantage over alternative engraving technologies where bit

heads have to be replaced regularly.

Laser Engraving is perfect for corporate

gifts, or any gift-giving occasion, engraved gifts

will be treasured and remembered for years to

come. We start you off with a wide selection from

the most wanted gift categories and then add your

personalized greeting or message using our high

tech laser engraving technology.

Fig 2.2.1.2 - Laser Engraving

Whether it’s a crystal figurine, personalized desk accessory,, or any other of our

unique gift items, you’ll find the perfect personalized and corporate gift ideas right

here at Crystal Mirage. For a unique, one-of-a-kind gift that you no one else could

possibly give, consider having your favorite photo transferred to crystal with any kind

of sizes and figures available and finished off with a personalized laser engraved

message.

2.3 MATERIAL SPECIFICATION

Pure Optical Cry. Float Glass of U.S.A./Europe. The engraving techniques is hand

crafted and the quality of abrasive is pure aluminium oxide mesh 200.

a) Glass & Engraving Specifications:-

Allowance tolerance >4-95+ 0.2 (Standard mm)

28

Page 29: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Resolution 0.80 mm

b) Quality Specifications: Narrow o d Tolerances

c) Class: Hi-Max Deviation of Refractive index +

d) Quality: Pure Optical Crystal - BK-7 / K -9

29

Page 30: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

CHAPTER – 3

THEORY OF THE STUDY

3.1 INTRODUCTION

3.1.1 Marketing

It has often been described as “the art of selling products”. It is the process by which

companies determine what products or services may be of interest to customers, and the

strategy to use in sales, communications and business development. It is an integrated

process through which companies create value for customers and build strong customer

relationships in order to capture value from customers in return.

The term marketing concept holds that achieving organizational goals depends on

knowing the needs and wants of target markets and delivering the desired satisfactions.

The aim of marketing is to know and understand the customer so well that the product or

30

Page 31: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

service fits him and sells itself. Ideally, marketing should result in a customer who is

ready to buy. It proposes that in order to satisfy its organizational objectives, an

organization should anticipate the needs and wants of consumers and satisfy these more

effectively than competitors.

3.1.2 Customer Relationship Management (CRM)

According to Michael LeBoeuf, Ph.D., author of How to Win Customers and Keep

them for Life, 68% of customers are lost due to indifference. Indifferent customers are a

result of pure neglect.

CRM is a broadly recognized, widely-implemented strategy for managing and

nurturing a company’s interactions with clients and sales prospects. It involves using

technology to organize, automate, and synchronize business processes—principally sales

activities, but also those for marketing, customer service, and technical support. The

overall goals are to find, attract, and win new clients, nurture and retain those the

company already has, entice former clients back into the fold, and reduce the costs of

marketing and client service.

There are several levels of customers:

1. Dissatisfied customer - Looking for someone else to provide product or service.

2. Satisfied customer - Open to the next better opportunity.

3. Loyal customer - Returns despite offers by the competition.

Dissatisfied customers are an interesting group. For every one that complains

there are at least 25 who do not. Dissatisfied customers by word of mouth will tell eight

to sixteen others about their dissatisfaction.  With the web some are now telling

thousands. 91% of dissatisfied customers never purchase goods or services from the

company again. A prompt effort to resolve a dissatisfied customer's issue will result in

about 85% of them as repeat customers.

31

Page 32: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Depending upon the business, new customer sales may cost 4 to 10 times

that of a sale to an existing customer. Some of the benefits of Customer Relationship

Management:

Streamlined sales and marketing processes

Higher sales productivity

Added cross-selling and up-selling

Improved service, loyalty, and retention

Higher close rates

Better profiling and targeting

Reduced expenses

Increased market share

Higher overall profitability

The aim of carrying out this project is to give the best possible attention, customer

services and therefore build customer loyalty. Hence a market research with IT and

Automobile industries was conducted along with the field work of corporate sales, so as

to find the effective ways to carry out better customer relationship.

3.1.3 Customer Centric Approach

In today’s scenario, customers are more educated and informed than ever, and

they have the tools to verify companies’ claims and seek out superior alternatives

32

Page 33: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

In order to have a better business, the companies have to take a customer centric policy,

in which customer is the foremost important entity.

Fig 3.1.3 - Customer Centric View

Building and managing the relationship with customers will help in cultivating long

term customer relationships. Companies are now moving away from wasteful mass

marketing to precision marketing designed to build strong customer relationships.

As in today’s scenario, the customers have lots of option available with them, hence

it becomes necessary for a company to build more stronger relationship with the

customers, so as they don’t get diverted to other vendors. Also, attracting new customer

is 5-10 times more expensive than retaining the existing one.

Hence Customer Relationship Management (CRM) becomes one of the major factors

responsible for customer satisfaction.

3.2 STP FOR CRYSTAL MIRAGE PVT LTD:

33

CUSTOMERS

Frontline People

Middle Management

Top Management

Page 34: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Crystal Mirage Pvt Ltd manufacture premium gifts items, which has unique concept

and design. The STP of Crystal Mirage Pvt Ltd market is as follows:

3.2.1 Segmentation:

Demographic – Crystal Mirage places its product mainly to the premium

class. Hence, segmentation of crystal products is also based on income.

Psychographic Segmentation - Lifestyle, personality and Socioeconomic

Classification

3.2.2 Targeting:

Corporate and personalized gifts are targeted towards corporate and an

individual. Crystal Mirage has adopted Full Market Coverage, by serving all the

customer group, with all the product they might need in terms of gifts.

3.2.3 Positioning

Crystal Mirage is positioning its product by their USP – ‘Only one in India to

provide 2D, 2.5D & 3D internal laser engraving, using German Technology’. They

treat their crystal products as premium products for premium customers.

34

Page 35: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

CHAPTER – 4

OBJECTIVE

4. OBJECTIVE

35

Page 36: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

The objective of the project entitled, ‘Building customer relationship with the

Automobile and IT (Information Technology) industries for Crystal Mirage Pvt Ltd,

Pune’.

Today, companies face their toughest competition ever. Moving from a product

and sales philosophy to a holistic marketing philosophy, however gives them a better

chance to outperform competition. And the cornerstone of a well-conceived marketing

orientation is strong customer relationship.

The objectives of the study are as follows:

1) To find the probable ways of improving customer relationships.

2) To understand the needs and wants of the customers.

3) To find the loop holes in the existing policy of maintaining customer relationship

and suggesting the solution for the same.

4) To learn about the customer expectations.

5) Building brand loyalty for the company and its product.

6) To attract and retain customers.

7) To find the ways to increase Sales for Crystal Mirage Pvt Ltd.

Hence, this project will help in building the good relationship with the customers,

which will ultimately help the company in understanding and satisfying the customers

and increase their profit margins in the near future.

36

Page 37: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

CHAPTER – 5

LIMITATIONS

5. LIMITATIONS

37

Page 38: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Project is carried out in 2 months, which is a limited time period for narrowing to

an exact conclusion.

Project is specific to only Automobile and IT industries in Pune region.

Due to the limitation of time, the sample size is not very large. Hence the

conclusion may not be perfect.

Project is mainly based on the replies of the respondents and observation of the

researcher during one to one interaction with the corporate executives.

Covering each and every Automobile and IT units is very difficult, thus the

researcher has tried it best to cover maximum organization, considering time and

transport availability in short span of time.

38

Page 39: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

CHAPTER – 6

SWOT ANALYSIS

39

Page 40: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

6.1 SWOT Analysis of Crystal Mirage Private Limited

6.1.1 Strength:

High profiled designers and technicians.

German Machinery for Laser engraving, cutting etc.

Only one in India to perform 2D, 2½D and 3D Laser Engraving.

100% Customization.

Huge Client Base.

It produces product with very high price range (Rs 20 to Rs 3,50,000/-)..

Crystal Mirage is available in top most metro cities of India.

6.1.2 Weakness:

Customer follow-up is the biggest problem in the company.

Improper database of the customers.

Lack of manpower in Crystal Mirage, Pune.

Lack of Promotion/Marketing of Company & its products.

Pricing of products are high, because of which customer loose interest.

As a result of the lack of a strong marketing campaign, the company’s brand

name is not as strong as it could be. Extensive marketing will have to be carried

out in order to become established in new markets.

Training of Corporate team is not efficient.

6.1.3 Opportunities:

Discovering new market of Automobiles, Hotel etc.

Opening exclusive SBU (Strategic Business Units) for different products, such as

Crystal, Polyresin etc.

40

Page 41: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Diversification in gift products such as crystal theme designs, Executive Diaries,

Pen, Crystal Jewelries, T-Shirts, and Caps etc.

Tie-ups with Hotel, Event industries etc for various functions arranged by them.

6.1.4 Threats:

Increasing competition from one-man operations, despite the poor level of service

provided by these individuals.

Vendors, who provide crystals at very low prices.

Competitors who offer corporate gifts and similar products in Indian market such

as Laser Fox Arts (www.laserfoxarts.com), Innova India

(www.indiamart.com/inovaindia3d), Shining D (www.shining3d.com), Infinity

India (www.infinityindia.com), Crystal Gifts Engraved

(www.crystalgiftsengraved.com), India Corporate gifts

(www.indiancorporategifts.com) etc.

Other competitors, which offer variety of gifts products such as leather wallet,

Executive diaries, Pens etc.

Lack of knowledge about the crystal products among the customers.

41

Page 42: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

CHAPTER - 7

RESEARCH METHODOLOGY

7.0 RESEARCH METHODOLOGY

42

Page 43: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

The research design methodology used in this project is descriptive. As the

problem was defined, we had to find the reasons and the solution of the respective

problems.

7.1 Sources:

The collection of data and the information for the completion of the project, was

mainly based on the following sources:

1) Primary Data

a) Personal Interview

b) Questionnaire

c) Telephonic Interview

d) Observations

2) Secondary Data

a) Websites.

b) Newspaper article.

c) Crystal Mirage Pvt Ltd, Pune.

Targeted Sample Size:

IT Organizations - 62

Automobile Organizations- 39

The data and the information collection in this project were mainly concentrated

through primary source. Structured questionnaire was prepared, which contained

questions related to the project title. Questions were asked to the corporate at the time of

an appointment, through personal interview. Telephonic interview was also made, in

order to get the response from the respondents (Corporate).

43

Page 44: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Majority of the data and the information was collected through the primary

source, through personal interview by asking questions from the questionnaire,

observation. Rest of the data had been collected through secondary sources such as web

sites, articles etc

The complete data was collected through the targeted industries, i.e. Automobiles

and IT industries.

44

Page 45: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

CHAPTER – 8

DATA ANALYSIS & INTERPRETATION

8. DATA ANALYSIS & INTERPRETATION

45

Page 46: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Data was analyzed and interpreted on the basis of the primary and secondary data

gathered by the researcher. Sample size includes both the IT and Automobile Industries

in Pune region.

Targeted Sample Size: IT Industry - 62

Automobile Industry- 39

8.1 Growth of Gift Industry

Fig 7.1.1: Growth of gift industry in India

Interpretation:

The gift industry is shifting to a more year round business with today's gift retailer

being less dependant upon seasonal sale. The season for big spending to strengthen

business contacts is very much in vogue now and around Rs 1700 cr gift market is

looking up to progress. Fashion has driven the Indian market. It is expected to grow by

more 7% to 13 % than the last year.

Source: Website

8.2 Frequency of giving gifts by corporate

46

Page 47: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

23%

17%

41%

19%

Frequency of gifts given by corporates

>10 Times

5-10 Times

1-3 Times

None

Fig 7.1.2: Frequency of giving gifts by corporate

Interpretation:

From among response received through various media for promotion, corporate

gifts scored a 17% - higher than any other medium including print, television or the

Internet. As per a survey conducted by a promotional merchandise website in 2007, 23%

of respondents ordered promotional items for giving away as corporate gifts more than

ten times per year. 41% of them ordered promotional merchandise between 1-3 times per

year. Corporate gifts market is, in fact, stable across all sizes of buyers and budgets.

Source: Personal interview with the respondents and website.

8.3 Gifts Preferred by the IT industry

47

Page 48: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Tradi

tiona

l Pai

ntin

gs

Woo

den &

Han

dicr

aft i

tems

Crysta

l Taj

mah

al

Troph

ies &

Mom

ento

s

Other

s0%

5%

10%

15%

20%

25%

30%

35%

19%14%

33%27%

7%

Preferred Gifts By IT Industry

Fig 7.1.3: Preferred gifts by IT Industry

Interpretation:

Gift items required by the IT industries consist of Traditional Paintings,

Handicraft Items, Crystal or Marble Tajmahal, Trophies and other items. Tajmahal is the

most preferred gift item preferred by IT industries, so as to give it to their foreign clients,

delegates etc. Traditional paintings, mainly Rajasthani Jharokha paintings and handicraft

items are also preferred. Trophies and Mementos are required by IT industries in their

annual meet, sports functions, conferences etc.

Source: Personal interview of the Corporate Executives (Respondents).

8.4 Gifts Preferred by Automobiles Industries

48

Page 49: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Dashboard Items

Music CDs Wrist Waches Chocolates, Caps & T-Shirts

Others0%

10%

20%

30%

40%

50%

60%

70%

59%

8% 5%

19%9%

Preferred Gifts By Automobile Industry

Fig 7.1.4: Preferred gifts by Automobile Industry

Interpretation:

Dash boards items, mainly spiritual and Keychains are the most favorable and

preferred gifts given by automobile industries to their customers. Some of the automobile

industry gifts Chocolates, Caps and T- Shirts to their customers. 59% of the Automobile

Industry find Dash board and the Keychains as the most suitable as a gifts, next comes

Chocolates, Caps & T-Shirts 19% etc.

Source: Personal interview, tele-calling with the corporate executives, Observation and

website.

8.5 Preferred material by Automobile and IT Industries:

49

Page 50: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Crystal Metals Polyresin Acrylic0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

81%

8% 0% 11%

Preferred material by Automobile & IT Industries.

Fig 7.1.5: Preferred material for gifts by Automobile & IT industries, available with Crystal

Mirage Pvt Ltd

Interpretation:

According to the observation and the interviews, it was found that both the

industries mainly prefer crystal material and the polyresin is the least preferred material

for these industries. Crystal is the most admired and liked material, because it signifies

purity, and lots of variations are possible as well.

Source: Direct interview, tele-calling with the corporate executives & Observation.

8.6 Most liked art variation by the customer

50

Page 51: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Internal Laser Engraving (2D,

21/2D,3D)

Sand Blasting Screen Printing Miniature0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

31%

18%12%

39%

Liked art variations

Fig 7.1.6: Liked art variations by customers

Interpretation:

Miniature and Internal Laser engraving are the most liked art of Crystal Mirage.

Even the ratio of Miniature is more than Internal Laser Engraving, but due to the higher

cost of the miniature, customer usually take their step back and opt for Laser Engraving.

Whereas the Screen printing gets the least share, as it is not permanent and gets fade out

with the time. Customer usually preferred items, which will remain with them forever.

Hence they prefer Internal Laser Engraving, Miniature, Sand Blasting the most.

Source: Personal interview of the respondents.

8.7 Information expected by the corporate from a company

51

Page 52: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Product Related Informa-tion

Service Related Both0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

5% 4%

91%

Information expected by the corporate

Fig 7.1.7: Information expected by corporate

Interpretation:

Observation from the response of the respondents reveals that maximum

customers want all the information about the product and service. They are not at all

ready to get half and incomplete information.

Hence, at the time of the meeting with the corporate, if possible, sales executives should

provide with all the relevant information regarding the product and the service given by

Crystal Mirage Pvt. Ltd. This will help in building trust of the customer with the

company.

Source: Personal interview of the corporate executives of IT and Automobile Industries.

8.8 Expectations of the customers from Crystal Mirage Pvt. Ltd.

52

Page 53: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Product Quality Price Delivery All0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

7% 6% 4%

83%

Customers' expectations from Crystal Mirage Pvt. Ltd.

Fig 7.1.8: Customers’ expectations from Crystal MiragePvt Ltd

Interpretation:

Through the direct interview with the executives of IT & Automobile industries in

Pune region, it is found, that almost all the customers, expect best quality at best price,

with timely delivery of products from the Crystal Mirage Pvt Ltd. Customers are not all

ready to sacrifice with any of the elements, whether it be quality, price or delivery.

Source: Personal interview of the executives of IT & Automobile Industries.

8.9 Budget for gifts in IT and Automobile Industries

53

Page 54: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

0-500 501-1000 1001 & above

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

42%46%

12%

Budget for gifts in IT & Automobile Industires

Fig 7.1.9: Budget for gifts in IT & Automobile Industries.

Interpretation:

The budget for the IT and Automobile industries, largely lies under the range of

500-1001. Majority of corporates demand for the gifts, which is under the mentioned

range. While, only around 12% of the population demand for the gifts above Rs 1000.

Hence we should try to produce products with more variations under the price range of

Rs 501-1000 and target the customers, in this range. Serving these population will

anyway help in increasing the revenue and promoting the company in a large scale as

well.

Source: Personal interview of the corporate executives of IT and Automobile industries.

8.10 Satisfaction level of the customers:

54

Page 55: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Satisfied Loyal Dissatisfied Highly Dissatisfied0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

42%

19%

38%

1%

Satisfaction Level

Fig 7.1.10: Level of Satisfation

Interpretation

It is found, that ratio of satisfied customers is high as compared to dissatisfied

customers. Customers who are highly satisfied are the loyal customers, who does not skip

the vendors for their requirements.

But, it is a matter of question, why some of the customers are dissatisfied?

Through survey it is found, that around 40% of the customers are dissatisfied. Hence, the

problem and solution of this dissatisfaction has to be found, so as to improve the

customer relationship. This will definitely help Crystal Mirage to prosper and build a

strong loyal relationship with the customers, by making them satisfied. Increasing the

satisfaction rate will increase the revenue by more than 30%.

Source: Crystal Mirage Pvt Ltd Pune, Personal interview and Tele-Calling of the existing

and the new customers.

8.11 Reasons for Customers’ Dissatisfaction:

55

Page 56: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Quality Packaging Delivery Others0%

10%

20%

30%

40%

50%

60%

53%

4%

41%

2%

Reasons for Customers' Dissatisfaction

Fig 7.1.11: Reasons for customers’ dissatisfation

Interpretation:

Customer dissatisfaction has many reasons. As found from the customers and the

Crystal Mirage Pvt Ltd, Pune. Customers are mostly dissatisfied with the Quality and

Delivery, because there are many issues regarding the misprinting, light engraving,

wrong alignment, shape etc. Whereas many times, company exceed the promised time of

delivery. Bad packaging is also the factor found for the dissatisfaction.

Source: Personal interview with the corporate executives and Crystal Mirage Pvt Ltd,

Pune.

8.12 Reasons given by customers for no repeat business (All

Industries)

56

Page 57: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Moved Competition DissatisfactionEmployee Attitude Other0%

10%

20%

30%

40%

50%

60%

70%

80%

3% 9% 14%

68%

5%

Reasons for no repeat business

Fig 7.1.12: Reasons for no repeat business for all industries

Interpretation:

Several surveys have been done on why customers do not give a business

repeat business. These surveys would indicate that in addition to the technical training

and job skill training provided to employees, some effort aimed at customer

satisfaction and employee attitude is appropriate. Its been found, that around 68% reason

of no repeat business is employee attitude. Hence special care has to be taken in the

training of the employee, so as to train them well to make the prospect customer to a

loyal one.

Source: Website

\

57

Page 58: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

CHAPTER -9

SUMMARY OF FINDINGS

9. FINDINGS

58

Page 59: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Working as a summer intern for the period of 2 months, has made me experience

the real world of corporate market. The project was carried under the title ‘Building

customer relationship with the Automobiles and IT industries for Crystal Mirage Pvt

Ltd’. This has led me to understand the nature of these industries, their need and wants,

behavior etc.

The following are the findings, which have been experienced in the time span of 2

months:

1) Induction program is arranged for the new recruits and interns, to brief about the

company, its products and its policies by the senior executives of the company.

2) Separate training module is scheduled for the new employees, in order to provide

them with all the training required for working effectively.

3) Continuous motivation by the by the senior to the sales executive is the major

factor for the positive outcome in Pune.

4) Extra benefits, in terms of incentives are provided to the sales executives,

according to the amount of sales made by them, which act as a motivating factor

and appreciation of the performance.

5) Total Independence and freedom is given by the senior executives to the sales

executive team to work in their own way. This definitely has led to the positive

outcome.

6) Highly qualified designers and technicians.

7) Monitoring is always performed, by analyzing the past work done by the sales

executives by the senior executives of the company through DSR (Daily Sales

Report).

8) Quick addressing of the complaints and problems by the sales team is made by

the senior executives of the company through mail or phone.

59

Page 60: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

9) At times, senior executives also get involved in the deal, when they find, that

there is a need of an involvement.

10) Crystal Mirage does not have a proper database for storing and retrieving the

data and information from the database, as per the need.

11) No CRM package is installed, hence which make the operations inefficient.

12) Lack of proper follow-ups to the leads generated.

13) Customer centric structure is not followed in an organization, which is leading

towards customers’ dissatisfaction.

14) Does not have a department, who is looking after customer relationship.

15) ‘Crystal Mirage’ - Brand lags in creating Brand awareness. They don’t have

any promotional campaign, due to which, the company is not able to cover the

market share and gain popularity, which they could have gained otherwise.

16) Pricing of the crystal products are high, due to which, many times customer does

not head forward to purchase the product.

17) Proper training and briefing is not given to the corporate sales executives to deal

with the corporate.

18) Company, does not show any gesture of thanks in written, to the customers after

the business with the clients.

19) No feedback is taken from the customer about the products and the services

offered to them.

20) Proper communication channel is absent between the levels in the hierarchy.

60

Page 61: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

21) Increasing rate of customer dissatisfaction, due to quality.

22) Proper products, demanded by the customers are not provided to them by the

production team, due to ignorance and overconfidence.

23) Negligence of Quality Control department, has led to improper packaging and

less quality product.

24) Dealing with the corporate require professionalism, which is absent in many of

the sales executives.

61

Page 62: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

CHAPTER - 10

SUMMARY OF SUGGESTIONS

10. SUGGESTIONS

62

Page 63: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Working for 2 months on a project titled ‘Building customer relationship with the

Automobiles and IT industries, for Crystal Mirage Pvt Ltd, Pune’, had made me

experience very important factors regarding the company, which should be taken care of

for maintaining better customer relationship. Following are the suggestions, which I

would like to recommend to the company.

1. Crystal Mirage Pvt Ltd lack in proper database of the client. Company rather has

a huge database of clients. Hence proper Data warehousing & Mining should be

implemented. So that, the follow-ups of the customers according to the

requirements can be made in time when required.

2. Executives should be knowledgeable, and should have confidence about his own

products. They should know the facts about company’s products or services.

Should understand company policies. In addition, should know as much about the

client's business and needs as they can.

3 Customers should be thanked for doing business with Crystal Mirage in writing,

duly signed by top executives of the company and letter should be send by

post/courier to the clients within 2-3 days. High cost service deals warrant a

handwritten note; even smaller cost transaction companies can send pre-printed

appreciation notes to customers on a scheduled basis.

4 Vtiger, Tunesta are the CRM packages which can be implemented in the

Organization.

5 Company should adopt customer centric structure of business, through which the

customers are always given priorities above everything.

6 Customer Retention by Exceeding Expectations. Giving a customer what they expect

is one thing, exceeding their expectations puts the company in a whole different

level in the eyes of the customer.

63

Page 64: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

7 Crystal Mirage Pvt Ltd should establish ESP (Emotional Selling Preposition) by

relating the gifts to the life and emotions of the customers.

8 Proper training should be provided to the sales team, so that they can deal with the

corporate with no difficulty. It has been found; due to lack of proper training,

employees do find it difficult to deal with the clients. Example-Communication,

behavior, attitude etc.

9 Clients can be wished on the important days, such as birthday, anniversary etc

through SMS, telephone, e-mail. Implementing this option will make the customer

think, that company does think about them. Hence building better relationship.

10 If new products are launched, the details should be provided to all the clients through

the direct mailing facilities.

11 Stay in contact with existing and past clients on a consistent basis. By not forgetting

them, they won’t forget you. Phone calls, notecards or postcards, newsletters, and

email can be some of the methods.

12 Greetings can be send to the customers on New-year, Diwali etc.

13 Company can remain in contact with the clients through the means of internet, by

Social Networking Sites. It’s been found, that even the employees itself are not

showing interest in joining the communities of the company.

14 Develop a personal relationship with your customer. Treat your client as if he is a

person, not a way to make money. It does mean that if your customer drops personal

information such as the client’s birthday, or asks follow-up questions the next time

that you speak. People like working with people who treat them as people.

15 If customer wants to know about the past transaction, the clients should be provided

with the same with no question asked.

64

Page 65: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

16 Anticipate the client’s needs. Take the extra step, and be ahead of customer.

17 If you are wrong, apologize. This will create a sense of respect and trust for the

company and its employees for their truth.

18 Existing customers should always be preserved, because attracting new customers are

5-10 times more expensive than retaining existing customers.

19 Ask for feedback. Obviously, customers are going to want more quality at a lower

price with speedier delivery. However, your clients may provide you with valuable

information that you can use to improve the reputation of your business

20 Listen. Sometimes people just need to rant, even when they are wrong. Try to avoid

taking this personally, and respond professionally.

21 If possible, loyal customers can be invited to visit the production unit, and experience

all the process which company performs before delivering the products.

22 Company should keep promises. Shouldn’t agree to do anything that company can't

deliver.

23 Production and the Quality Control (QC) department should pay extreme care about

products before delivering.

24 In Website feedback and complaints column can be added, so as to allow customers

to express their view about the product and services delivered.

25 Company should not target every customer, instead the customers’ portfolio can be

maintained. Portfolio can be divided into partition of levels i.e.

i. Platinum – Clients who generate highest revenue for the company.

65

Page 66: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

ii. Gold – Clients who raises revenue, but less than platinum.

iii. Lead – Clients, who are not at all, helping in generating the revenue.

26 Open suggestions from the clients can be taken in order to increase the product range,

product quality, product services etc.

27 Delivery and the quality of the product should be given most preference.

28 Study thoroughly, the needs and demands of the clients. Then suggest the favorable

things.

29 Be honest with your client. If you can't meet a requested deadline, tell your client

before you take the order. While you may lose that one order, you are more likely to

keep the customer over the long run.

30 If possible, Crystal Mirage should indulge in CSR (Corporate Social

Responsibilities).

31 Company can start customers’ club. Where the clients, whoever are loyal to the

company are the member, and they can have annual get together, annual meet etc.

32 Promotion of the company and the products is a must. Special team should be setup

in order to promote Crystal Mirage Pvt Ltd to compete with other competitors.

66

Page 67: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

CHAPTER – 11

CONCLUSION

11. CONCLUSION

The research project entitled, ‘Building customer relationship with IT & Automobile

industries for Crystal Mirage Pvt Ltd, Pune’ was conducted among 101 corporates of IT

and Automobile industries, which included C.E.O, M.D., HR Manager, Marketing

Manager etc of the respective industries.

67

Page 68: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

A detailed research has been carried out for the period of two months, and the

conclusions made are as follows:

1. Gift industry is expected to grow at the rate of 7-13%, reaching around Rs 1700

Cr in the fiscal year 2010-11. This shows that there is a huge possibility for gift’s

market to flourish in the coming time period.

2. It has been found, that the level of dissatisfaction of the customers are mainly due

to poor quality and extended delivery of the product. Hence proper surveillance

should be kept by Quality Control department to provide the best quality to the

customers on time.

3. Expectations of the customers are increasing; they want value of their money. In-

spite of best product in optimum price and on time delivery, they expect

additional benefits from the company.

4. Crystal Mirage lags in maintaining customer relationship.

5. Lack of Promotion/Branding of company and its product, is not allowing the

company to generate revenue which could otherwise have been made.

6. Emphasis should be given in retaining and serving the existing customers, rather

than attracting the new customers because, attracting new customers are more

expensive than retaining existing ones.

7. Various feasible methods have been suggested in order to improve the customer

relationship with the clients.

Hence, it is concluded that maintaining relationship with the customers is the most

important factor responsible for a better business. Thus, an extreme care should be taken

to deal with the customers.

68

Page 69: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

CHAPTER – 12

BIBLIOGRAPHY

11.1 BIBLIOGRAPHY

11.1.1 Books

Philip Kotler , Marketing Management , Millennium edition , Prentice Hall India ,

New Delhi

V S Ramaswamy & S Namakumari, Marketing Management, 4th Edition,

Macmillan Publishers India Ltd, New Delhi

69

Page 70: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

William G.Zikmund, Business Research Methods, 7 e, Cengage Learning India

Private Limited, New Delhi

11.1.2 Websites

www.crystalmirage.net

www.wikipedia.com/Customer_relationship_management.htm

www.craftcentral.com/Corporate Gifts Industry Suppliers Directory, Business

Organizers, Diaries.htm

www.about.com/crm.htm

www.giftsnaccessories.com/Data for growth.htm

www.ezinearticles.com/7 Ways to Increase Your Customer Loyalty.htm

www.busreslab.com/default.htm

11.1.3 Articles

Business Line - Market for corporate gifts alive and kicking

Ways to Improve Customer Loyalty, by Lori Greenwell, Winter 2000 issue,

published by American Business Advisors, Inc., Englewood, Colorado.

Customer Relationship Management: Developing a Long-Term Customer-

Focused Strategy.

Gifting Report 2010, By Unity Marketing Inc. on 24 March 2010

CRM means change By Michael Meltzer (Managing Partner, AMT)

Published by The Wise Marketer in March 2004.

70

Page 71: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Annexure

QUESTIONNAIRE

Project Title: Building customer relationship with the IT and Automobile industries for Crystal Mirage Pvt

Ltd, Pune.

This project report is carried out by Rafat Jamil Siddique (Summer Intern), for finding the

problems faced by the company in maintaining customer relationship and suggesting the solution for the

same. Respondents will be the executives from corporate, mainly CEO, MD, HR/Personnel Manager,

Marketing manager, Manager-Corporate Communication or any concerned authority.

71

Page 72: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

-Your participation is valuable to us-

Name:

Designation:

Company:

1. Have you heard about Crystal Mirage Pvt Ltd?

Yes

No

a) If yes, from where did you come to know?

News Paper

Magazine

Internet

Friends

Any other, Specify_______________________

2. Does your company have the policy to distribute gifts and awards to your Clients and Employees?

Yes

No

3. Does your company have special occasions/events for distributing gifts? If yes, at what time of the year?

If Yes (Specify)___________________________________________ No

4. What are the gifts you usually distribute to your Clients, Delegates and Employees?_______________________________________________________________________________

_____________________________________________________________________________

5. How many times in a year you company give gifts to the employees and the clients?

1 to 4 times

5 to 10 times

>10

None

6. What kind of material will you prefer for gifting, available with Crystal Mirage Pvt Ltd?

Crystal

72

Page 73: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

Polyresin

Acrylic

Metals

7. What is the budget of the gifts, you usually distribute?

Rs 0-500

Rs 501-1000

Above 1000

8. What kind of artwork you will prefer to gift?

Internal Laser Engraving

Sand Blasting

Screen Printing

Miniature

9. What are the informations, you expect from Crystal Mirage Pvt Ltd?

Product Related

Service Related

Both

10. What are the expectations from Crystal Mirage Pvt Ltd?

Best Quality

Best Price

Delivery

All of the above

11. What gifts are usually preferred by your company?

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

12. According to you, what services Crystal Mirage Pvt Ltd should provide, to improve customer

relationship?

_______________________________________________________________________________

_______________________________________________________________________________

____________________________________________________________________________

73

Page 74: 4.Final Project Report -  Crystal Mirage (Main Body)corrected

74