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    A FINAL REPORT ON EXECUTIVE TRAINING

    TO GENERATE TWO DEMAT ACCOUNTS PER WEEK WORTH Rs 10,000

    (A study on Religare Securities Ltd)

    (REPORT SUBMITTED FOR THE PARTIAL FULFILLMENT OF MBAPROGRAMME (2008-2010

    SUBMITTED BY

    SANJEEV SAHOO

    ENROLLMENT. NO:-8NBCU011

    UNDER THE GUIDANCE OF

    MAUSMI DAS

    (FACULTY GUIDE)

    RANJAN KUMAR SANTI

    (COMPANY GUIDE)

    ICFAI NATIONAL COLLEGE

    CUTTACK

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    ACKNOWLEDGEMENT

    I am very grateful to my faculty guide MAUSUMI DAS, faculty in INC CTC, who

    provided his knowledgeable guidance, constant encouragement and valuable

    assistance throughout.

    Date:

    INC, CTC SANJEEV SAHOO

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    CERTIFICATE

    This is to certify that SANJEEV SAHOO is a student of ICFAI National College

    bearing Enrollment no-8NBCU011 is working under my supervision and guidance

    for

    his project work. His project work entitled A FINAL Report on Executive Training

    TO GENERATE TWO DEMAT ACCOUNTS PER WEEK WORTH Rs 10,000

    which is his genuine and an original work.

    Date : MAUSUMI DAS

    Place: INC, CTC Faculty Guide

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    DECLARATION

    I do hereby declare that the project submitted by me to INC, Cuttack for partial

    fulfillment of MBA programme is my own and it is not submitted to any other

    institution or published at any time before.

    INC, CTC Signature

    Date:

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    CONTENTS

    SL.NO CHAPTERS PAGE NO

    1. OBJECTIVES 1-2

    2. COMPANY OVERVIEW 3-3

    3. PRODUCT DIFFERENTIATION 4-6

    4. TARGET AND TASK 7-7

    5. STRATEGY 8-12

    6. ANALYSIS OF PERFORMANCE VS TARGET 13-14

    7. LIMITATION 15-15

    8. LEARNING 16-19

    9. ACHIEVEMENT 19-23

    10. AWARD 24-29

    11. CONCLUSION 30-30

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    OBJECTIVE

    To know about the company RELIGARE SECURITIES LTD. and the

    products and services afford by the company.

    To know the present scenario of the market and also know how to deal with

    the customers and to sell the products to generate more revenue for the

    company .

    To gain knowledge about corporate culture.

    To know about different organizational culture and to work as sales

    representative

    To know the objective of the company and to know the company products.

    To gain knowledge about customers and competitors characteristics. We need

    to understand field procedures and responsibility.

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    To learn how to make effective sales presentation. As a sales executive we had

    to ensure customer satisfaction for repeating business.

    To collect fuller and richer information about markets, customers, prospects

    and competitors and to learn marketing responsibility.

    To know about what the average customers wants. After closing of sales, we

    need to check the details of delivery, time, purchase terms and other matters

    that are important to the customers.

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    COMPANY OVERVIEW

    Religare is driven by ethical and dynamic process for wealth creation. Based on this,

    the company started its endeavor in the financial market.

    Religare Enterprises Limited (A Ranbaxy Promoter Group Company) which includes

    Religare Securities Limited, Religare Finvest Limited, Religare Commodities

    Limited and Religare Insurance Broking Limited provides integrated financial

    solutions to its corporate, retail and wealth management clients.

    Today, we provide various financial services which include Investment Banking,

    Corporate Finance, Portfolio Management Services, Equity & Commodity Broking,

    Insurance and Mutual Funds.

    Religare is proud of being a truly professional financial service provider managed by

    a highly skilled team, who have proven track record in their respective domains.

    Religare operations are managed by more than 2000 highly skilled professionals who

    subscribe to Religare philosophy and are spread across its country wide branches.

    Today, we have a growing network of more than 150 branches and more than 300

    business partners spread across more than 180 cities in India and a fully operational

    international office at London. However, our target is to have 350 branches and 1000

    business partners in 300 cities of India and more than 7 International offices by the

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    end of 2006.

    Symbol

    The name is paired with the symbol of a four-leaf clover , a rare mutation of

    the common three-leaf clover. Traditionally, it is considered good fortune to

    find a four leaf clover as there is only one four-leaf clover for every 10,000

    three-leaf clovers found.

    Each leaf of the four-leaf clover has a special meaning in the sphere of

    Religare.

    The first leaf of the clover represents Hope. The aspirations to

    succeed. The dream of becoming. Of new possibilities. It is the

    beginning of every step and the foundations on which a person

    reaches for the stars.

    The second leaf of the clover represents Trust. The ability to place ones own

    faith in another. To have a relationship as partners in a team. To accomplish a

    given goal with the balance that brings satisfaction to all not in the binding but

    in the bond that is built.

    The third leaf of the clover represents Care. The secret ingredient that is the

    cement in every relationship. The truth of feeling that underlines sincerity and

    the triumph of diligence in every aspect. From it springs true warmth ofservice and the ability to adapt to evolving environments with consideration to

    all.

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    The fourth and final leaf of the clover represents Good Fortune. Signifying

    that rare ability to meld opportunity and planning with circumstance to

    generate those often looked for remunerative moments of success.

    Hope. Trust. Care. Good fortune. All elements perfectly combine in the

    emblematic and rare, four-leaf clover to visually symbolize the values that

    bind together and form the core of the Religare vision.

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    PRODUCTS

    The Religare security Ltd is giving service to its customers in two different

    platforms. Such as Online Trading and Offline Trading. Online is otherwise known

    as RACE (Religare Advanced Client Engine) and Offline is otherwise known as

    RALLY. I am working under Online Trading (RACE).Online is providing 5 types of

    products to the customers for investing their money. Such as: -

    EQUITY (share)

    COMMODITY

    MUTUAL FUND

    INSURANCE

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    PORT FOLIO MANAGEMENT

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    From the above products I am basically working with EQUITY (share). Normally

    the company providing 3 types of accounts. Such as

    1. RACE (Basic)

    Account activation charges Rs.299/-

    Minimum margin of Rs.5000/- required.

    No software installation required, easily accessible browser.

    Trade online and over phone.

    Access your ledger balances and account information over internet and phone.

    Integrated DP, back-office and trading account.

    Online transfer of funds through multiple banks.

    Lifetime free DP account (No annual maintenance charges)

    Earn interest on cash margin deposited with us.

    2. RACE (Advanced)

    Account activation charges Rs.499/-

    Minimum margin of Rs.5000/- required.

    No software installation required, easily accessible browser.

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    Hot key functions for faster trading.

    Trade online and over phone.

    Access your ledger balances and account information over internet and phone.

    Integrated DP, back-office and trading account.

    Online transfer of funds through multiple banks.

    Lifetime free DP account (No annual maintenance charges)

    3. RACE(Professional)

    Account activation charges Rs.999/-

    Minimum margin of Rs.10000/- required.

    No software installation required, easily accessible browser.

    Advanced hot key functions for faster trading.

    NSE cash segment, NSE F&O and BSE on single platform.

    Trade online and over phone.

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    Access your ledger balances and account information over internet and phone.

    Integrated DP, back-office and trading account.

    Online transfer of funds through multiple banks.

    Lifetime free DP account (No annual maintenance charges)

    Earn interest on cash margin deposited with us.

    TARGETS /TASK

    The company guide of Religare securities Ltd. has set an individual sales

    target for me. Having deep knowledge about the process and the objective of

    target setting of my unit Manager Mr Amit nayak(company guide) and my

    Faculty Guide Mr.Shrutikanta dixit(Faculty guide), have given me the

    opportunity of generating :-

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    o 30 DEMAT ACCOUNTS worth Rs 1,50,000 during SIP period

    starting from 24/3/08 to 5/7/08.

    o It has divided into weekly basis i.e. 2 demat accounts in each week

    worth Rs10, 000.

    STRATEGY

    : To achieve the specific target of Religare have designed some plans.

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    In today's economy, big and small businesses are seeking every opportunity to win

    sales through competitive advantages. Smart sales person of small business knows a

    sales strategy can create a competitive advantage.

    Selling consists of two main functions: tactics and strategy. Sales strategy is the

    planning of sales activities: methods of reaching clients, competitive differences and

    resources available. Tactics involves the day-to-day selling: prospecting, salesprocess, and follow-up.

    So before adopting strategies for achievement of target myself gain the knowledge

    about selling and negotiating skills are as follows:-

    Sharpening my selling and negotiating skills:-

    The fundamental skill required to get rich to know what and how to sell i.e., finding

    out what people want and need and then giving it to them. However , only in a

    perfect world would getting rich be so easy. In the real world, not only do peoplegenerally not know what they want, but many want more then they really need or

    deserve, are never satisfied with whatever solution you offer or worse yet, dislike

    anybody who tries to sell them something new or revolutionary. Thus, the real

    challenge for any salesperson or negotiator lies not in simply finding solutions to

    problems, but rather in learning how to read peoples emotional states, understanding

    sensitive areas of their egos, learning how to counsel them, learning how to help

    them without becoming aggressive or overbearing, and sometimes learning how to

    reset their sights when they are wishes prove to be too unrealistic.

    Reading peoples mind:-

    Effective selling demands insight. Insight results when you talk less, listen more,

    take a second look at first impressions, and take time to use what you have learned,

    be discreet about your impressions, and not let any personal involvement blur your

    conclusions. More simply put, you can learn almost everything you need to know

    and more than other people would like you to know simply by keeping your eyes

    peeled and mouth shut. Practically speaking, this means that to become more

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    effective salesperson or negotiator, you must learn how to read peoples mind with

    the point being not to open their heads and look inside like you were watching TV,

    but rather to be able to predict their tendencies.

    People reveal themselves by the way they dress:-

    People who wear conservative clothing are generally perceived to be moreintelligent, mature, generous, sincere, trustful, understanding and dependable then

    those wearing more daring style.

    People reveal themselves by their body movements:-

    As a result of our individual socialization process, each of us develops our own

    patterns of body movement. Some of these are universally translated across cultures

    while others can remain quite mysterious, threatening, or communicate a meaning

    entirely opposite of their intention.

    Selling and negotiating as a management tools:-

    The art of selling and negotiating centers around discovering exactly what people

    want and then giving it to them as best you can. But, it also involves being able to

    persuade people to see your point of view-extra influence and perhaps more

    importantly, convince them that you in turn respect their point of view. It should also

    considered, that in many respects, negotiating is selling and selling is negotiating.

    After earning the brief knowledge in selling and negotiating skill, I have made the

    number of strategies are follows which helps me to achieve the target during my

    training period

    Preparing:-

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    The object of this strategy of selling process is to make all the necessary preparations

    and accumulate all pertinent evidence or displays to enhance my presentation, before

    any contact is made with a customer. It involves knowing inside-out all company

    policies, procedures and rules, as well as, how to filing of the RACE form. It also

    involves accumulating target market knowledge and product knowledge.

    Prospecting:-

    The object of this strategy of the selling process is to try and find potential clients.

    There are three types of prospecting:-

    New customer prospecting-

    It involves identifying potential customers. It is not for waiting for the customer to

    show up at your store or phone about your service. It is concerned with taking the

    initiative by going to the customer with a product or service idea.

    Regular customer prospecting-

    It involves activities like keeping old customers up-to-date on new products

    produced by the company.

    In-store prospecting-

    It involves sizing up and qualifying customers as they walk into the store. It means

    using all powers of observation and experience to determine whether a person is a

    buyer or a browser, and who really wants help and who would prefer to be left alone.

    Approaching:-

    The object of this strategy of the selling process is to open on a positive note and

    then learn as much as possible about the customer and his or her buying motives

    before begin my presentation or sales pitch. However, before approaching a

    customer, it is a good idea to know what I shall say to them. Normally, this will be a

    greeting, statement of objectives or series of questions to determine exactly what the

    customer wants.

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    Presenting:-

    The object of this strategy of the selling process is to tell customers everything they

    need to know to make an intelligent buying decision, making sure to adapt my

    message to meet their needs. More importantly however, it is an opportunity to

    influence their decision. To do this I need to promote buyer benefits, demonstrate,

    dramatize, get customers involved, provide proof, limit their choices, and help themvisualize the satisfaction they will get if they buy now.

    Trial closing:-

    The object of this strategy of the selling process is to make a statement or question

    designed to let myself know how close the customer is to making a buying decision.

    Handling objections:-

    The object of this strategy of the selling process is to go back over my presentation toclear up misunderstanding or doubts the customer may have. If a customer, for

    example, tells me a scheme of Rs 10,999 for opening of Demat account at Religare

    Securities Limited you have approaching is too expensive I might respond using one

    of the following four approaches:-

    Yes, But approach- Yes, it is too expensive but it is the best in comparison with

    other schemes. This approach begins on a positive note by agreeing with thecustomer.

    Counter Question approach-Why do u feel it is too expensive? By asking why,

    the real reason for the objection might become known.

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    Retaining objection approach-You think this scheme is too expensive? By

    retaining the objection, I may be able to try sale another scheme which will give

    more satisfaction as per his expectation.

    Direct response approach-In this company you get what you pay for. Quality has

    its price. This approach might make some positive attitude in the mind of the

    customer.

    Final closing:-

    The object of this strategy of the selling process is to ask a question or make a

    statement that causes the customer to make a buying decision in my favor. To do this

    I can- Offer a Service-I can come to open a demat account this afternoon

    Give a choice- Do you want Rs 2,500 or Rs 4,000 brokerage scheme

    Offer an incentive- If you accept this scheme right now, it will free of accountopening charge

    Suggest a Deadline- If you want this scheme, better get it now. It is the last date of

    offer.

    Suggestion Selling:-The object of this strategy of the selling process is to encourage

    my customer to buy more by making a definite suggestion for another product or

    service they may need. Usually, most customers like to receive suggestions as long

    as they are valid.

    Following Up: - The object of this strategy of the selling process is to make sure all

    the steps to write up the sale, arrange ducuments, receive payment and ensure

    customers satisfaction are taken. It is the strategy that leads to new sales in the future.

    ANALYSIS OF PERFORMANCE VS TARGET

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    Performance means an act of something performed or an accomplishment.

    Organizational leaders are faced with the daunting task of collectively managing the

    business, allocating resources, pleasing customers, applying new rules and

    regulations, and fending off competitors. These pressures may seem small in

    comparison to the challenge that exists to increase bottom-line growth in a cost-

    competitive environment. In todays current business environment many managers

    and supervisors roles have shifted to becoming more hands on working managersrequired to produce results and manage at the same time. This approach limits a

    managers time to manage people effectively. Mangers struggle with the pressure to

    produce outcomes and manage their people at the same time. Employees struggle

    with a lack of clear direction and support. To be more effective, this new role

    demands that mangers develop and hone their managerial skill levels to heights never

    seen before. To assist with this development many managers are turning to coaches

    to help them grow, develop and refine their skills.

    Setting a sales target is more than simply adding on a percentage for growthand an amount for contingency. This quick overview explains one approach

    to ensuring that the sales plan integrates with the business and marketing

    plans and produces a viable set of targets and an organized and supported

    sales team.How you set your sales target is largely dependent on the

    companys business strategy. If the plan is growth through increased

    customer base, a large part of your increased revenue target will be based on

    new business sales. If the plan is to grow through the product line, you may

    choose to allocate targets to a mix of new and existing customers. For each

    possible scenario, your sales plan will be slightly different but the basic

    process for setting the targets remains the same.

    In the first week of training period my target was to gain deep knowledge about the

    company, products, its environment, culture, organization structure, strategy and its

    objectives. It is the aim of any interns at the initial period to be clear about the above

    aspects because without knowing anything about the company he will not be able to

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    generate any business or work for. As I am an intern my objective was to know the

    above aspects which I have achieved successfully.

    From 2nd week to 9th week I have performed average of the target because I was not

    any experience in any financial service sector so it was difficult for me to get that.

    The performance is not only depends on a sales person but also on its

    organization.Religare products is very good but for marketing it there is not properstrategy. Its promotional activities are very low in comparing of its competitors.

    From 10th week to 15th week I have given 100% important to achieve the target what

    was given to me, for that I changed my strategy and made new strategy ,do the

    proper analysis of products, made segmentation of Customers according to their

    needs and preferences and lastly tried to convert them from prospect to as a RSL

    customer. My achievement of target is totally depends open the market situation. The

    security market has no certainty that when it will increase or decrease and the

    perception of people on this market are very unexceptional. However, the role of a

    sales executive is to generate full targeted business for his respective organization.

    By accepting these statements I try to achieve demat accounts with making favorable

    cooperation with my Bose as well as customers. The understanding of customers

    mind is the great effort for me to achieve it, creating believe in the mind of customer

    and need creation is my origin strategy for achieving 100% target in this competition

    business world.

    LIMITATIONS

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    Though RELIGARE SECURITIES LTD. is in the leading position but still we are

    facing some problems in the market.

    The obstacle or the hurdles that we faced in achieving our assigned

    task or targets are stated below:

    LIMITED RESOURSES

    The non availability of main branch offices at different location

    creates hurdles in the work to achieve the targets. As our

    Bhubaneswar branch is only meant for collection and enquiry

    purposes.

    LACK OF TIME

    Time plays an important role in the achievement of the target

    but due to some problem the customer cannot give sufficient

    time to us and it also happens that the customer has already

    opened Demat account.

    NEGATIVE ASPECTS

    From the beginning there is a wrong notion in the minds of the

    customer that if they will invest their money in share market,they

    will loss their money

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    LEARNING

    During my 4 months training I have learned:-

    Learning in the executive training:

    1. To gain the complete knowledge about the product of Religare securities Ltd.

    2. On The Job Training (OJT) gives a practical exposure and helps in acquiring

    the on road skills.

    3. To build the relationship with the new customers and to follow up them, make

    sure that they are satisfied with the product.

    4. To make the customer aware of the benefits of the product and convince him

    to open the account.

    5. To maintain good relationship with the corporate employees

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    Learning from company guide:

    1. First two week I should interact with the company persons that are involved

    within the business.

    2. Company guide told me about the selling tips and information regarding the

    products. For product knowledge he suggest me log in to the website and all

    the information I collect it.

    3. I get to know the documentation required to open the demat account..

    4. He also suggests how to grabs People attention by communicating with the

    customers directly.

    5. The most important point is to awaken customers interest and to generate

    their desire.

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    Learning from faculty guide:

    1. I got the idea to work in a team. We were put in a team of 10 people and we

    were asked together. From this I knew how to work in a team.

    2. Making daily sales reports - by making daily sales report we will able to

    review on daily goals which is very much helpful for maximize the

    productivity.

    3. Carry positive attitude - Enthusiastic in our own way and to take responsibilityif things go wrong because I learnt that people buy from a positive attitude

    person.

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    Learning from customers:

    I learned to take appointments from them first and then approach them.

    I learned what the negative points of our company are and how to overcome

    those.

    I learned how to extract the exact need of the customer. What is the exact

    requirement of the customer?

    Meeting with clients need instead of forcing the product to the client its

    better to help the client to meet their needs. First of all match it with a benefit

    from your product that solves our clients need.

    Carry positive attitude - Enthusiastic in our own way and to take responsibility

    if things go wrong because I learnt that people buy from a positive attitudeperson.

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    ACHIEVEMENTS

    1. Achievement is the success of life. In day to day life we are achieving

    something that we are not counting because we have not planned for it. But

    satisfaction has come from that achievement where we have set

    objectives/targets and made planned to get that. However in business life it is

    the more competition for setting the objective as well as achieving it. Every

    person has some target it may be personal or for others but the proper planning

    and hardworking gives the result of achievement. In the achievement of targetnumber of hurdles and obstacles will come on the planning path but sound

    thinking and deep knowledge play the important role to make it satisfied.

    2. However in Religare Securities Limited the target was most important for me

    as well as for my company. As I know marketing department generate direct

    revenue for its business, i gained clear knowledge about its products,

    objectives, environment etc for generating revenues because without

    understanding the objective of the company will not be easy to achieve it.

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    3. Anyway following are the achievement that I have gained during this 3.5 moth

    of SIP period

    AWARDS/REWARDS/INCENTIVE RECEIVED DURING

    EXECUTIVE TRAINING.

    Organization rewards are those that the employee earns as a result of his employment

    with the organization. Most organization link their reward system to employee

    performance and commitment to the organization. Rewards can be both extrinsic and

    intrinsic. Extrinsic rewards are tangible in nature and are normally under the control

    of the organization. Examples of extrinsic rewards are a promotion or a bonus.

    Intrinsic rewards are tangible in nature and are internal to the individual. Examples of

    intrinsic rewards are a challenging assignment or informal recognisation. The basic

    purpose of a reward system is to improve employee morale and job satisfaction. This

    would result in improved performance and loyalty to the organization.

    A good reward system helps in identifying the best performers and rewarding them

    to increase their job satisfaction.

    Rewards can also be classified into financial and non-financial. Financial rewards

    are the rewards that employees receive in monetary terms. Examples are bonus or an

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    annual incentive. Non-financial rewards are intangible and are paid in kind. They can

    however be measured in terms of their value to the employee. For example, the

    employee reaps the benefits of a subsidized cafeteria, though he is not being paid in

    cash. The value that accrues to the employee, because of subsidized cafeteria, can be

    calculated.

    An incentive is a motivational force that stimulates people to greater activity orincreased efficiency. In economics, an incentive is any factor (financial or non-

    financial) that provides a motive for a particular course of action, or counts as a

    reason for preferring one choice to the alternatives. Since human beings are

    purposeful creatures, the study of incentive structures is central to the study of all

    economic

    activity (both in terms of individual decision-making and in terms of co-operation

    and competition within a larger institutional structure). Economic analysis, then, of

    the differences between societies (and between different organizations within asociety) largely amounts to characterizing the differences in incentive structures

    faced by individuals involved in these collective efforts. Eventually, incentives' aim

    is providing value for money and contributing to organizational success.

    Incentives can be classified according to the different ways in which they motivate

    agents to take a particular course of action. One common and useful taxonomy

    divides incentives into three broad classes:

    o Remunerative incentives (orfinancial incentives) are said to exist

    where an agent can expect some form of material reward especiallymoney in exchange for acting in a particular way.

    o Moral incentives are said to exist where a particular choice is widely

    regarded as the right thing to do, or as particularly admirable, or where

    the failure to act in a certain way is condemned as indecent. A person

    acting on a moral incentive can expect a sense of self-esteem, and

    approval or even admiration from his community; a person acting

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    against a moral incentive can expect a sense of guilt, and condemnation

    or even ostracism from the community.

    o Coercive incentives are said to exist where a person can expect that the

    failure to act in a particular way will result in physical force being used

    against them (or their loved ones) by others in the community for

    example, by inflicting pain in punishment, or by imprisonment, or byconfiscating or destroying their possessions.

    Incentive structures, however, are notoriously more tricky than they might

    appear to people who set them up. Human beings are both finite and creative;

    that means that the people offering incentives are often unable to predict all of the

    ways that people will respond to them. Thus, imperfect knowledge and unintended

    consequences can often make incentives much more complex than the peopleoffering them originally expected, and can lead either to unexpected windfalls or to

    disasters produced by unintentionallyperverse incentives.

    Planning of incentive:-

    Incentive Schemes Drive Sales Behaviors Key to Motivating Performance:-

    Incentive plans are an often underrated but absolutely critical element in motivating

    top sales performance. To get the best from your people and drive sustainable sales

    growth you need a well thought out scheme.

    The best ones are well aligned with company goals and motivate behaviors to drive

    growth as well as helping to attract and retain the best people. However for many

    companies, sales incentive schemes are an afterthought, rather than a focus for

    motivating sales performance and this is a tragic waste.

    http://en.wikipedia.org/wiki/Unintended_consequencehttp://en.wikipedia.org/wiki/Unintended_consequencehttp://en.wikipedia.org/wiki/Windfallhttp://en.wikipedia.org/wiki/Perverse_incentivehttp://en.wikipedia.org/wiki/Windfallhttp://en.wikipedia.org/wiki/Perverse_incentivehttp://en.wikipedia.org/wiki/Unintended_consequencehttp://en.wikipedia.org/wiki/Unintended_consequence
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    Exploit the Path of Least Resistance to Drive Sales Growth - Incentive Plans: -

    Good salespeople will always find the path of least resistance to most personal

    reward. This is a healthy sign in a hungry salesperson and companies should leverage

    it by ensuring close alignment with company interests. A good plan is a transparent

    one that has a balance between corporate and individual interests. Some are so

    complex that few salespeople can understand how they work and this is simply

    counterproductive.

    Poorly Designed Sales Compensation Schemes do More Harm than Good:-Many

    produce an imbalance that impairs instead of motivating sales performance. Perhaps

    it was put together in a hurry, as an afterthought or is a patched up legacy from the

    past. However it came about, a poorly designed scheme will do more damage than

    you may imagine and addressing this should be an early priority in any push to drive

    sales growth. Effective incentive schemes dont need to be complex to setup or

    administer as an element of overall sales compensation in fact the more simple and

    transparent the better.

    Rewarding Over-performance and Discouraging Underperformance:-Developing sales compensation schemes is often seen as a tedious chore rather than

    an opportunity to drive sales growth and thus they receive far less attention than they

    warrant. The principle is simple if the company does well on the back of an over-

    performing salesperson working hard and smart, so should the salesperson.

    Underperformance also needs to be reflected and addressed accordingly. Perform

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    helps devise sales compensation plans, driving the behaviors and motivating the sales

    performance you need.

    In Religare Securities Limited, incentive is the vital key for the achievement of

    target. Its incentive planning is considers the growth of the company. So its annual

    target is achieved easily. Anybody without getting any value for his hardworking will

    not be interested to generate revenue for his organization. Its incentive planningimpress the sales team to achieve the set target and it binds its human resources with

    value loyalty.

    It is the environment of calm and quite that shows that it has sound understanding

    among its employees as makes them to ready for any difficulties of external

    environment.

    The following are the different amount of incentive offered by RSl according to their

    types of account:-

    Classic Account

    Account Type Incentive Value

    ASP Account 300

    Lite Account 400

    Professional Account 250

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    Freedom Account

    Subscription Type Incentive Value

    Monthly 400

    Quartely 500

    Half Yearly 750

    Annually 1000

    Trump Account

    Scheme Type Incentive Value

    Trump Plus 600

    Trump Super 2000

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    During my 4 months training Program I have received stipends of Rs 2,500 per

    month.

    CONCLUSION

    Although there is a tough competition in the market but RELIGARE SECURITIES

    LTD. is still in a leading position in the market due to its aggressiveness and unique

    marketing strategy. It gives more emphasis on maintaining healthier and wealthier

    relationship with their customers.

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    Till date my achievement and my work is satisfactory enough and I m

    confident enough that working as marketing manager I can handle any pressure as

    well as target assigned to me.