PROJECT On INSTITUTIONAL / CORPORATE SALES At
FERRERO INDIA
SUBMITTED TOWARDS PARTIAL FULFILLMENT OF MBA DEGREE OF IILM ISTITUTE OF HIGHER EDUCATION
ACADEMIC SESSION 2010-2012
By:Ira Jain PG20101095 2010-2012
Acknowledgement
If words are consider to be signs of gratitude then let these words convey the very same. My sincere gratitude to FERRERO ROCHER INDIA for providing me with an opportunity to do summer training, and giving necessary directions on doing this project to the best of my ability. I would like to thank to mention my special gratitude to Mr.Rohit Saini, & Mrs.Priya Dubey, my reporting seniors for the much needed help and guidance during my stay in the company. I would like to extend my deep d eep sense of gratitude towards Mr. Vikas Tiwari for his guidance and help in marinating excel sheets and presentations. I would also like to thank Mr Bhuvnesh Mahajan Mah ajan , Mr. Waris and Mr. Rajesh Kumar for their their humble support.
Acknowledgement
If words are consider to be signs of gratitude then let these words convey the very same. My sincere gratitude to FERRERO ROCHER INDIA for providing me with an opportunity to do summer training, and giving necessary directions on doing this project to the best of my ability. I would like to thank to mention my special gratitude to Mr.Rohit Saini, & Mrs.Priya Dubey, my reporting seniors for the much needed help and guidance during my stay in the company. I would like to extend my deep d eep sense of gratitude towards Mr. Vikas Tiwari for his guidance and help in marinating excel sheets and presentations. I would also like to thank Mr Bhuvnesh Mahajan Mah ajan , Mr. Waris and Mr. Rajesh Kumar for their their humble support.
Declaration
I, Ira Jain of IILM INSTITUTE OF HIGHER EDUCATION do here by declare that the project “INSTITUTIONAL/ CORPORATE SALES” is the project of my own knowledge and effort. No part of this report has been submitted to any one o ne at time before. It is presented before the partial fulfillment of PGDM/20010-2012
Ira Jain PG20101095
Executive Summary
I did my summer project in Ferrero Rocher India. An attempt was made to learn the ways to make new corporate clients for long term relationships. In my two months summer training I got field experience where I got to interact with different different corporate executives in Delhi/NCR and Noida and got a chance to use my marketing and selling skills to convince them to have Ferrero Rocher as their corporate gifting product. I was also given a chance to visit the various people linked with the distribution channel of the company with my mentor. This widened by knowledge about the working of the company. After the summer project I feel very energetic and enthusiastic as every part of it is filled with experience and learning. My summer internship project has increased my co nfidence levels and my understanding on how professional professional life is to be maintained. An important lesson learnt learnt is how to deal with the customer and convince them. My internship taught me the different types of customers, their different requirements and ways to handle them, different ideas that can be used to convince the client and working of distribution channel. A questionnaire was made for the clients c lients we met in the meeting to find the effectiveness of the program and for making the statistical and graphical representations.
Ira Jain PG20101095
Objective
Theory alone can’t groom a management student to a successful manage. To being emerge as a winner in this hyper competitive environment one should have proper blend of both theory and experience. Summer training provides a student an opportunity to apply theoretical knowledge in to the practical world. All this helps him/her to expand his horizons of knowledge base. The objective of my internship was to look for the prospective corporate and MNCs clients in the market who undergoes corporate gifting, to contact them and finally to convince them to use Ferrero Products. This project was about doing corporate sales and learning the convincing and selling tactics. I was also made to learn the maintenance of data on Microsoft excel sheet. This is because my internship was not just a task for 2 months for the company instead it was an initiation step of their entrance into B-2-B sector, therefore I was also told to keep the record of all the companies I contacted and dealt with on an Microsoft excel sheet.
Brief History about Chocolates
Confectionery history has a record of at least 4000 years. When Egyptians displayed their pleasures on papyrus. Sweetmeats were being sold in the market place in 1566 BC.Yet chocolate did not appear on the scene until the ancient Aztec and Mayan cultures discovered the value of cacao plant. It is reputed to have originated in the Amazon or Orinoco basin. Mayans and Aztecs took beans from the “cacao” tree and made a drink they called “xocoatl”.Aztec Indian legend held that cacao seeds had been brought from paradise and that wisdom and power came from eating the fruit of the cacao tree.
The word chocolate is said to derive from the Mayan “xocoatl”;cocoa from the Aztec “cacahuatl”.The Mexican Indian word “chocolate “comes from a combination of the terms Chocó (foam) and atl (water);early chocolate was only consumed in the beverage form. As part of a ritual in twelfth-century Mesoamerican marriages, a mug of the frothy chocolate was shared.
Chocolate was first noted in 1519 when Spanish explorer Hernando Cortez visited the court of Emploror Montezuma of Mexico. Prince Albert’s explosition in 1851 in London was the first time the united states was introduced to bonbons, chocolate creams, hand candies i.e. called “boiled sweets” and caramels. Daniel Peter of Vevey, Switzerland, experimented for eight years before finally inventing a means of making milk chocolate for eating in 1876.
Chocolate is created from the cocoa bean. A cacao tree with fruits pods in various stages of ripening. Chocolate comprises a number of raw and processed food produced from the seed of the tropical cacao tree. The seeds of the cacao tree have an intense bitter taste and must be fermented to develop the favour.chocolate contains alkaloids such as the bromine and phenethylamine,which have physiological effects on the body. Dark chocolate has recently been promoted for its health benefits, including a substantial amount of antioxidants that reduce the formation of free radicals. Chocolate has become one of the most popular flavors in the world. Gifts of chocolate molded into different shapes have become traditional on certain holidays: chocolate bunnies and eggs are popular on easter.chocolate coins on Hanukkah, Santaclaus and other holiday symbols on Christmas, valentine’s day, independence day, republic day, marriage party, marriage aniversery.chocolate is also used in cold and hot beverages to produce chocolate milk and hot chocolate
Ferrero Rocher Ferrero Rocher is a spherical chocolate sweet made by Italian chocolatier Ferrero SpA, the producer of Tic Tac, Kinder Surprise and Nutella. Introduced in 1982, the chocolates consist of a whole roasted hazelnut encased in a thin wafer shell filled with hazelnut cream and covered in milk chocolate and chopped hazelnuts.[1] The sweets each contain 73 calories, and are individually packaged inside a gold-coloured wrapper. Rocher comes from French and means "rock ".
Ferrero History
The driving force behind the global development of the Ferrero Group is Michele Ferrero. With his energy and passion for creating new products using avan t-garde ideas and technologies, Mr. Ferrero has revolutionized the eating habits of millions of consumers the world over.
Thanks to the continued and valuable support of his wife Maria Franca, Michele was the first postwar Italian entrepreneur to open offices and manufacturing plants abroad, transforming an Italian company into a true multinational conglomerate.
The roots of this success can be traced back to the 1940s, when Michele’s parents, Piera and Pietro Ferrero, succeeded in turning their pastry shop into a factory. This first turning point was achieved thanks to products “invented” by Pietro Ferrero and his young son Michele using locally grown hazelnuts; and to the successful sales talent of Giovanni Ferrero, Pietro’s younger brother.
Ferrero is now in its third generation. Michele and Maria Franca’s sons, Pietro and Giovanni Ferrero , head the Group as Managing Directors; and the company continues to grow under their guidance.
Today , Ferrero remains a solid family owned company; an d behind the brands, the balance sheets and the growth of a multinational company, lie the past, the present and the future of an ingenious and tenacious family from the Piedmont region of Italy.
The great leader of the Group’s development is Michele Ferrero. With the desire to make and create new products with state-of-the-art ideas, he has revolutionised the food habits of millions of consumers.
Thanks to his consistent and efficient partnership with his wife Maria Franca, he was the first Italian manufacturer after World War II to open production sites and offices abroad in the confectionary sector, turning the Company into a truly international Group. We have to return to the ‘40s to discover the roots of this success. These were the years when Piera and Pietro, Michele’s parents, transformed a pastry shop into a factory. These first and decisive steps forward were thanks to the products “invented” by Pietro Ferrero and his son Michele, who was then very young. Another key to success was the effective sales network organised by Giovanni, Pietro’s brother, who died in 1949. And now Ferrero’s story has reached the third generation. Pietro and Giovanni Ferrero, sons of Michele and Maria Franca, worked together at the top of the Group as Managing Directors for more than 10 years. In April 2011, Pietro Ferrero Jr. tragically died in South Africa while working on a humanitarian mission, inspired and driven by him, that aimed to extend the Ferrero Company Enterprises.
Today, Giovanni Ferrero continues to run the Company successfully, aiming to reach even more ambitious goals and ensuring that the company inspiration and motivation that was so strongly shared with his brother stays alive. Today, just as yesterday, it is a structure based on solid family values. In short, behind the trademark, the turnover and the expansion of a multinational company, there is the story of a brilliant and strong-willed Piedmontese family that gathers its extraordinary strength for growth from the Ferrero Foundation’s motto: “Work Create Give”.
Ferrero Mission High quality, crafted precision, product freshness, careful selection of the finest raw materials, respect and care for our consumers. These are the Ferrero “key values” which have endeared our products to millions of consumers all over the world.
Ferrero products are the result of unique and innovative ideas that become part of everyday traditions and, in most countries, are considered true icons.
Ferrero also means caring about food safety, the environment, social issues within the local country where it operates and commitment to its own human resources throughout the world.
Today, many Ferrero products are “global”, making Ferrero the fourth largest confectionary company in the world.
Ferrero’s distinguished characteristic is its “glocal” approach (think globally, act locally); that is a Company vision focusing on international development yet adapting to local traditions and needs and giving back to the local community.
Ferrero is also very committed to consumers and their needs. Over the years, Ferrero has built a mutual relationship based on trust, experience, “feeling” and insight; an enduring loyalty that joints Ferrero with all its consumers worldwide. It is this relationship with consumers that has been the core of our success.
Ferrero Varities A range of Ferrero chocolates benefit from the advertising of the Rocher type. These different ch ocolates are sold separately, and also as boxed collections of mixed types. Ferrero Rocher – a whole hazelnut, coated in milk chocolate, surrounded by 'Nutella' filling, and encased in a
nut croquante. Ferrero Rondnoir – a 'pearl' of dark chocolate, surrounded by a dark chocolate cream, encased in a croquante
and encrusted with dark chocolate Sprinkles. Ferrero Raffaello – a half almond, surrounded by meringue and milk cream, encased in coconut wafer coated
with coconut flakes. Ferrero Garden (Coconut) – a half almond, surrounded by coconut cream, encased in wafer coated with
coconut flakes, and topped with white chocolate icing cap. Ferrero Garden (Lemon) – as above, but with lemon cream centre and flavouring, and lemon icing cap.
Ferrero Garden (Forest Fruits) – as above, but with strawberry & raspberry cream centre and flavouring, and
strawberry icing cap. Ferrero Garden (Pistachio)[3] – as above, but with pistachio cream centre and flavouring, and pistachio icing
cap. Ferrero Garden (Almond) – as above, but with almond cream centre and flavouring, and almond icing cap. Ferrero Garden (Hazelnut) – as above, but with nutella-type centre, and a white chocolate icing cap. Ferrero Giotto – a chocolate cream centre, within a wafer sphere coated with hazelnut pieces.
The Rocher always bears a golden coloured wrapper, the Rondnoir a dark brown wrapper, and the Garden a silver wrapper with an illustration of the flavour under the name tag—for example, a strawberry, or a coconut.
KINDER CHOCOLATE
Kinder Chocolate (Kinder is the German word for children) is a confectionery product of the Italian chocolate manufacturer Ferrero SpA; it is known in Germany as Kinderschokolade. The German offspring of Ferrero SpA, Ferrero oHG mbH, also formerly known as Assia GmbH, founded in 1956, introduced Kinderschokolade to the German market in 1967. In 1968, Kinderschokolade was then introduced to Ferrero's country of origin, Italy. Within the following 10 years, Kinderschokolade was successfully marketed in the Mediterranean and Eastern Europe and later across 4 continents.
NUTELLA
Nutella is the brand name of a hazelnut flavoured sweet spread by the Italian company Ferrero at the end of 1963. The recipe was developed from an earlier Ferrero spread released in 1949. Nutella is sold in over 75 countries.
OTHER PRODUCTS BY FERRERO
CSR INITIATIVES AT FERRERO ROCHER
Environmental Policy
Ferrero is constantly working to improve the performance in energy efficiency and environmental impact of its activities, at the same time giving careful consideration to product safety requirements and competitiveness. Our attention to these issues is demonstrated, above all, by our ongoing efforts to raise our associates awareness about managing the production processes with maximum energy efficiency, this includes the design specifications of our system, which are always set to attain the highest standards of energy efficiency. The Ferrero Group demonstrates its commitment by putting into effect the following measures: •
a reduction in energy consumption and the sensible and increasingly efficient use of energy;
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a reduction in fossil fuel consumption and, co nsequently, in greenhouse gas emissions;
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the development of initiatives which are integrated with the local community, with the aim to achieve greater synergy in the energy and environmental sectors as we ll as positive relations with local institutions;
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the participation in research and technological innovation projects in collaboration with universities, research institutes and private companies in order to d evelop experimental systems to find the most promising technological solutions.
In the development of new products, we also look for maximum environmental compatibility in the packaging. In particular, Ferrero supports the development of environmentally sound packaging solutions by considering the entire packaging life cycle (from the origins to the end of cycle, intended as recycling and/or re-use and/or energy recovery) and the impact that this can have on the food by optimizing preservation and reducing food waste.
We are committed to reducing the environmental impact of packaging by adopting a strategy in the packaging development and design stages that aims to optimise the main variables that influence the eco-sustainability profile of materials: Renewability: reintegration of resources used in the production cycle; use of materials obtained from renewable
sources, where possible.
Recyclability: development of new materials that are biodegradable and/or can be easily reintegrated into the
production cycle. Replacement, where technically possible, of composite or coupled materials with simple materials that come from the same sources. Reduction: downsizing of materials, reduction and/or elimination of over packaging when not justified by technical
and/or qualitative reasons. Reuse: development of packaging solutions that can have other functional uses or be reabsorbed as such into the
production cycle, thus extending the average life of the item.
We monitor for continual improvement in environmental policy results throughout the entire procurement chain from the production and purchasing of raw materials, to manufacturing processes, packaging, distribution and then consumption. Our associates receive the appropriate information and training in order to achieve maximum participation of anyone in the application of Company procedures. In particular, each associate must: •
strive to use energy resources correctly and avoid waste through simple daily actions such as: turning off lights and electrical equipment when leaving the work place, checking that water taps are closed and printing documents only when strictly necessary;
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Adequately separate waste materials to facilitate correct disposal and recycling.
Tools and strategies adopted
The Ferrero strategy is characterized by a range of investments and activities that comply with the principles of sustainable development. In particular, we are c ommitted to: •
assigning a share of investment funds to the self-production of e nergy from renewable sources;
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implementing environmental management systems certified according to the international ISO
14001 standards for continual improvement in environmental performance and organization; •
identify the indicators and ensure the monitoring and control trends of Company actions in terms of environmental impact;
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adopting a system for the periodic monitoring of environmental indicators which ensures that performance of the various industrial activities is controlled;
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organizing activities to increase environmental awareness and training for associates with the aim of letting everyone know about these initiatives and improving the level of competence and professionalism of associates.
Social responsibilities
All Ferrero associates maintain relations inside and outside the Group with integrity, honesty and correctness. Ferrero does not allow behavior that consists of directly or indirectly promising or offering money or similar valuables to public officials and/or civil servants or members of their families from which the Company may derive any advantage. In the same way, it condemns any behavior designed to obtain any type of contribution, financing or other payout of the same kind from public administrations or international bodies, by means of altered or falsified statements and/or documents, the omission of information or, more generally, tricks or scams designed to mislead the institution in question. Gifts to government representatives, public officials and civil servants are permitted, if allowed by the national legislation in question, if of a modest value which does not in any case compromise the integrity and reputation of either of the parties and does not influence the independent judgment of the receiver.
Ferrero strives to make a positive contribution to promoting the quality of life, the socio-economic development of the communities it operates in and the training of human capital and local ability while, at the same time, conducting its own Company business in a way that is compatible with correct business practices. We respect the cultural, economic and social rights of the local communities we work in and we contribute to their development wherever possible.
CORPORATE GIFTING
A year of hard work, coupled with dedication, sure deserves to be rewarded. On the other hand, welcoming a new client and silently staying conscious in their mind is never so easy. Enter corporate gifts! Today’s corporate world strives on relationships and networking. In order to stand out and make your presence felt, gifts are among the easiest and most accessible options. Most corporate gifts are embellished with the name; tagline and logo of their company, helping them increase their brand value. Gone are the days when formal gifts were limited to flower bouquets. Every year, the size of India’s corporate gift market grows. Companies are going out of the way to lure both, their employees and business associates. To capitalize this lucrative business opportunity, gift manufacturers introduce innovative gifts in the market. With increasing d emand, comes the need for innovative designs. Whilst designing gifts, the Indian culture must be kept in mind.
PRODUCT LINE
Though the concept of corporate and promotional gifting is on an all-time high, the product line is constantly changing. For decades now, the most common material used to make corporate gifts is leather. Folders, visiting card holders, planners, diaries, bags have ranked amongst one of the most sold items. Innovative gifts with utility value are also in high demand. The current trend of gifting has also veered from the traditional gifts to custom gift hampers, photo frames, cand le stands, chocolates, cakes, table tops, perfumes, watches, candle stands and lots more. H igh-end corporate firms gift mobile phones, laptops and a variety of electronic devices. In today’s scenario, personalized gifts are preferred over generalized ones. One advantage of personalized gifts is that the one who receives it tends to preserve it. That’s what corporate gifting today aims at. Gifting sweets on occasions has always been the benchmark of Indian tradition. However, with changing times, chocolates have replaced the traditional ‘mithai’. Elaborating the trend of gifting chocolates as corporate gifts, Floyd Pereira, Owner, Dark Temptations Cakes and Chocolates quips, Chocolates are considered an all-time favorite. Since chocolates are liked by all, a number of corporate companies gift chocolates. Many of them customize chocolate hampers, depending on the recipient. A variety of chocolates, when put together and packed creatively, looks visually appealing as well.
BUDGET COUNTS
Every company perceives corporate gifting differently. With a variety of products available, the product rates scale a vast range. Corporate gifting largely depends on the company’s budget. Corporate gifts are usually customized to the company’s needs. Products can range from as low Rs 15 to Rs 1000, depending on the product. A few companies gift electronic items as well, for which the prices are obviously high. The demand for wooden products is also gaining demand. Most corporate gift manufacturers opine that, larger the number of gifts ordered, the more a company can save up on. A number of corporate banks give out bulk orders which are customized as per their needs. Most companies have vast budgets, especially when giving New Year gifts or Diwali gift. Assorted chocolate hampers and roasted almond chocolates top the chart. A half-kilo box of assorted chocolates costs approximately Rs 480. Apart from building the corporate identity of a company, corporate gifting is a great way to express appreciation and gratitude. Corporate gifting helps enhance goodwill. However, it’s not possible to measure the level of our relation with the client after corporate gifting. It is an expression of our appreciation for the work don e. And after all, who doesn’t enjoy receiving gifts. Its important to make sure that the gifts are chosen carefully. Much thought and time has to go into corporate gifting and all the companies seem to be hitting the search button to ‘gift it right’. ADVANTAGES
There’s more to a business than simply equal give and take of payment in trade of a service or an item. To last in the business, there is a need to apply more effort and present more than required to the customers. Giving of corporate gifts to customers may just do precisely that. Companies may not get anything monetary in v alue in giving customers corporate gifts, but they definitely drive the business going and steady, sometimes much more than their items can. Corporate gifts remind customers why they picked out the company to handle their transactions with. A corporate gift received gives them the feeling of being exceptional and of being respected. Companies, in return, get things
that money can’t buy: the customers’ commitment and faith, brand consciousness creation, and goodwill promotion. There are lots of gift ideas you can choose from. You can choose the common given items, such as ballpoint pens, mugs, note pads, kitchen magnets, and planners. Although they are viewed as uninventive by some, they serve their function. Because they are the most useful and the most omnipresent items, the company’s logo and brand are often seen and carved in people’s heads. Companies likewise need to think outside the box ideas in order to be current. Unusual corporate gift tokens like bobble head figurines, kitchen items, cosmetic kits, bath essentials, and mini game items also suggest that they a re innovative and creative. Because clients almost never reject corporate gifts, the name and logo of the company that are engraved on the tokens are quickly spread around. That’s one way of promoting the company without the expensive cost of TV and print ads. The items that you give away to customers, those gifts that have your name and logo etched, boost the profile of your business. This is because people who see your logo are constantly reminded of your business, which means it produces awareness and recognition of your products or services.ccc Corporate gifts should first and foremost build goodwill relationship between the co mpany and its clients. By ensuring that you have the customers’ loyalty and trust first, growth in awareness and sales will naturally follow. With the ever increasing challenges and competition faced by business organizations and companies, many business houses have started using several techniques to elevate shareholder value and corporate earnings. Most of these business organizations, today, have discovered the importance of corporate gifts and corporate awards. From the client to the front lines to the boardroom across the country, corporate giveaways and awards offer many benefits to improve the performance of an organization. Gifting these corporate awards you are not o nly showing your gratitude towards your employees but also thanking them for the dedication and hard work. There are many benefits of presenting corporate presents to potential clients and employees working in an organization. Following are few benefits of giving corporate presents:
You can easily inform the target market about the new product launched by your company. If the product introduced by your company has some new features in it and you are longing to occupy a lion share in the target market then it is great to offer customers something along with the brochure. Build Brand Loyalty:
If your customers like free gift items, there is high possibility that you may notice repeated sales of that particular product. This in turn will help in building a greater brand loyalty towards the product introduced by your company. Creates Brand Awareness:
These corporate presents imprinted with the name, logo and message of your company helps in creating brand awareness. If you are a newbie in the market and want to make your presence felt then distributing gifts is a perfect idea to attract the attention of customers towards your product or company. Retains brand image:
Corporate presents help in retaining brand image in your potential customer or client's mind for a long time. Gifting products such as desk calender, pen, mouse pad, umbrellas, etc. with a logo and name of your company imprinted on them reminds them about your brand every time they use it. Attracts new customers:
It is important for a business organization to learn how to retain their old clients. Giving them free gifts along with warm and good wishes during festive season help you to continue business with them for a long time. With so many benefits associated with corporate presents,you should definitely use them for promoting, marketing and retaining the brand name of your company in your potential customers mind.
MOSTLY USED ITEMS FOR CORPORATE GIFTS
Other major products used in corporate gifting apart from sweets and chocolates are as follows:
Imported multipurpose Knives( Swiss made) Imported Pens Torches, Faber Castell Items Transparent pens Key chains Jars Apparel Automotive Products Awards Badges Bags and Totes Beverage Products Cell Phone Accessories Clocks Candles Computer Accessories Desk Accessories Eco-Friendly Products Food Gifts and Coffee Golf Products Logo Cookies Magnets Norwood Products Advertising Bags Advertising Calendars Advertising Caps
Advertising Clocks
Advertising Novelties Advertising Tags Badge Reel Corporate Silver Gifts Custom Printed Bags Desktop Gifts Engraved Key Chains Jute Promotional Bags Key Rings Leather Corporate Gifts Mini Mirror Name Card Case Novelty Keychain Promotional Bags Promotional Balloons Promotional Ballpoint Pen Promotional Clock Promotional Clothing Promotional Displays Promotional Kitchenware Promotional Leather Goods Promotional Mug Promotional Pen Promotional Polo T-Shirts Promotional Sports Bags Promotional Sports Caps Promotional Steel Products Promotional Watch Promotional eye Wears
VARIOUS PHASES IN MAKING SALES
1. Selecting a prospective customer
In this step we look for the companies who are successful enough and undergo various activities like corporate gifting, corporate social responsibility etc. here we basically looked for the major companies in Delhi, Noida and Gurgaon. This step was a crucial step because prior to making a call we should be confident enough that the company is looking for a large number of packed gift items. After the call, the next step I am left is of looking for the contact number of the person concerned. Although my company gave a huge excel data which contained large number of companies that are successfully running in Delhi and NCR region with their contact number and person concerned. But most of the times the telephone numbers were changed for which I needed to rely upon the internet and just dial facility.
2. Making a call
In this step we make a call to the prospective customer we have selected. Call making is extremely important because it is the first interaction with the customer and this conversation will highly effect the chances of turning this customer into the client. There were various point that we had to keep in mind while making a call. •
It was of prime importance that we knew our product well. Any question if asked about the product has to be answered properly because if not it will effect the client-making process in negative way.
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While having conversation, proper language and etiquette is required.
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The meeting should be set at the nearest time log available and convenient time should be allotted according to the customer.( Time and Date of Call: Look at your watch at the beginning of the call and write down the time and date. This allows you to track how long your first contact lasts, and it gives you a point of reference for later calls)
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It is of extreme importance to record the name of the representative of the company and his designation.
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Record all the essential information you got while making a call. This can be used for later reference.
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If the company or the customer is not willing to buy the product right now then take their email Id and mail them the quotation and the description of the product so that they can take reference of this mail while making their purchase decisions.
3. Setting up a meeting
Follow up after a call is of extreme importance. Therefore we needed to make sure that a meeting was set because that raised the chances of getting sales even more. Few points that are needed to be kept in mind while handling a meeting are as follows.
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The attire wore should be completely formal. Because it not just gives the sense of corporate personality to your self but it also has an impact on the customer.
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Being on time is another crucial factor that is of extreme importance but if not reached on the meeting on time it would ruin the impression and the image of the company.
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Giving the chance to customer to talk is also important. Also while talking don’t keep on persuading the customer rather tell him the advantages of the product and benefits of the deal.
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After the deal has been done talk about something not-related to the deal e.g. About their company etc. It would help in making a better client relationship.
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Even if the company is not willing to purchase the product right now or is not giving any final words then take his email Id and mail him the quotation and product description so that he can acknowledge this mail later on when he is making a decision.
4. Making the sale .
If the customer is interested in the product then there are extremely high chances of getting the sales. First few questions that he would ask would be- what benefit would I get? How much discount? Will it be a speedy delivery? Will the product be available to them at any point of the year, if they can avail any free packaging service and what king of packaging services are available.Etc.
To ensure that every question in answered appropriately, we needed to be properly equip with the information and answers. We needed to learn complete chart of discount that can be given at a particular number of products purchased with complete knowledge of distribution channel and service system. There are various offers which were available at Ferrero which somewhat compelled the customer to buy the product like: •
Good discount
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Free packaging
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Speedy delivery service
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Availability of product through out the year
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Freshest chocolate boxes (just a month old)
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Exchange of the chocolate box in the case of any damage
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Free delivery service
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New offers during festive season
All these facts were good enough to make the customer atleast consider the option buying Ferrero Rocher.
5. Ending the deal
If the customer is ready to buy the product then we needed to ask him for the payment method. Usually we preferred payment on delivery and post-dated–cheque. But sometimes changes to this method were made according to wishes of the customer (only if the customer is extremely reliable and successful. E.g. BMW wanted to pay for the product with 1 month credit and it was allotted as this customer is a highly valued customer) Email ID of the customer is taken to be in touch with them regularly and to keep them updated about the new schemes and new offers that are available to them. After the deal has been done, talk about something not-related to the deal e.g. about their company etc. It would help in making a better client relationship.
6. Sending the delivery
It is of extreme importance to deliver the product on time and on the specific date as told by the customer. This is because late delivery and improper service has a bad impact on the image of the company which can effect the business relation with the client. Ferrero has a good distribution system across Delhi which ensured proper d elivery of the product on time.
Companies Which We Called During Internship
BMW mathura road embassy of spain eicher goodearth ranbaxy swaroski group dicovery
gobbs kay india earnt and young fujitsu india australian high commision embassy of greece ginni international embassy of UAE mitsubishi italian trade commision newzealand high commision singapore embassy french embassy switzerland embassy toyota tsusho uss embassy itc limited Archies ferns and petals audi mathura road Papam flower gifting shop farenheit moto nagar skoda Vlcc asian motors najafgarh road honda globus motors wedding caterers toyota teleste india harpreet ford moti nagar BMW moti nagar Canada embassy kingfisher
motorola capital IQ sony erricsson Dell Wipro Oracle thought work ciena india pvt ltd KLG systems punj lloyd Bechtel india flour daniel india foster wheeler india Fashion house UOP india pvt technova india efunds gurgaon ibm daksh grgn convergys progeon infosys bpo accenture services mphasis noida wns global servises
Companies who brought sales
Ferns and Petals : Rs 400000 per month BMW Mathura road : Rs 11500 per month
Total Sales Made= 411500 Rs per month
Graph explaining companies called, companies met and companies who became clients. 60 50 40 30 20
No.
10 0 companies calledcam panies met companies gave companies w ho sales asked for a mail with quotation
Out of All the companies we met 30% agreed to give sales
30% companies whom but no sales companies finally sales 70%
Companies already using ferrero rocher
40% already using ferr new users 60%
why companies wanted to buy ferrero
10% corporate gifting
50%
30%
wanted som ething harpreet motors) annual celebrations needed in their ow processes
10%
what was the re ason behind not purchsing the product
a. wanted extremely hi rate
17%
b. were not happy with t
17%
49%
c. wanted to order later required time d. wanted to consider o options as well
17%
0%
e. other
Distribution of ferrero rocher sales wise
10% 1% T-16 T-24 51% 34%
percentage sales of Ferrero Products 60% 50% 40% 30% 20% 10% 0%
Major Competitors In Market
T-30 T-3
•
Sentiments… A Corporate State Of Mind
•
Total Gift Corporation
•
Asian Agencies
Promotional Items Delhi •
Exalon Promotion
•
Ferns And Petals
Corporate Gift Mart Indi crafts Jolly Paper Products Balaji Time Square •
Corporate Gifts India
Difficulties faced in making sales
Most of the times a client would ask why he should go for such an expensive gift product when a Cadbury chocolate worth rs 100 can work the same. This question is expected from middle level firms as they have a tendency to save the expenses as much as possible but the higher and successful companies goes for a quality product therefore such questions are not unusually asked there. When such questions are put in front we usually explain to them how this product is no1 in Europe and no. 3 worldwide and that we serve quality. This needs a lot of consoling and persuasion to make the customer finally agree to the product.
Other corporate gifts that are highly prevalent in the corporate world are wallets, paperweight, pens with Pen holders etc. the advantage of such gifts are that they stay for a long term where as chocolate is a perishable product which makes it a little forgettable.
The companies which order large number of product usually ask for heavy discount which sometimes get a little uncomfortable. E.g Ernst and Young wanted 5000 pieces of product but with huge discount scheme.
Sometimes while making a call, customer will keep o n procrastinating the meeting time and would not set up a meeting. And neither would he say no to the deal, thus confusing us with their willingness to buy.
Few companies also wanted different payment method then desired by our company. We preferred payment on time and post dated cheques but few companies wanted to pay on credit.
Sometimes calling through out the day with no successful outcome brought lot of pressure and stress. Also only calling used to make the job monotonous and dull which itself was threatening.
Learning From My Internship
In past 2 months of my internship I learned various aspects of marketing and client-making. From calling etiquettes to convincing techniques, from being presentable at the meeting to making good relation with the client everything was properly taught to me by my mentor. I learned how important it is to answer every query of the client to make a profitable.
I was taught at my internship that how important it is for a company to uncover all the hidden areas of making sales. Corporate sales started after I joined the company. Before my internship only retail and traditional sales were happening. This is because Ferrero Rocher is very new to India, it has only been 2 years that Ferrero Rocher entered India and in this mean time it majorly focused on traditional sales and distribution channels. Now that much of area has been covered under traditional sales, it is focusing on b-2-b sales. We were told to maintain a complete excel sheet and a complete record of the companies we contacted so that after our internship, the company can continue with the work we have started. We were told that we are initiating a whole new project for the company which definitely increased the pressure of being a good performer on us.
Apart from just making a good call, corporate meetings too was a great learning. I learned how important it is to be formally presentable and properly equip with the data and information about the company and the product. During the corporate meeting I learned that customer will be willing to buy the product only if deal sounds profitable and convincing to him. He wants it all on his terms. Therefore it is of e xtreme importance to convince him about the benefits of this deal.
I learned that to have a good convincing power, you need to have good communication skills and knowledge. Also confidence is of utmost importance, this is because if you are not confident enough then the customer will not be convinced.
I also learned that it is extremely important to have good business relation with the customer .this is done by sending mails regularly and by asking the customer if he is having any doubt or is facing any kind of difficulty with the services.
Apart from this, my internship also explained me how important it is to treat every customer with equality even if he is not from as big and as successful company that I contacted before. Also I was aquatinted about the various distribution channels of the company and their working which taught me about the complexities of an organization.
Since I got the opportunity to visit various companies like discovery, ferns and petals, BMW etc it helped me highly in increasing my confidence in handling corporate meetings which will highly benefit me in my future. I got the exposure to meet high profile executives of various companies which boosted my moral and confidence.
I also learnt a whole lot about various personal level problems faced by employees o f the company and what all an HR manager does to maintain the office decorum and solve this problem so as to keep the working of an organization unaffected. I could relate my academic study to the real working processes, which benefited me to a greater extent than is possible with traditional academic instruction. I learned from real problems and in real situations. I was also given a chance to meet the various distribution channel members with my mentor. This was a great opportunity to actually learn the working of the company. we met the caterers of various different companies and conducted a meeting with them to place Ferrero product in their canteens as well. This was a great learning experience for me as I learned how distribution channel member are convinced and handled.
Benefits Of The Program
In retrospective, I can say that I benefited more from the internship program than I thought i would be. It helped me in following ways:-
•
Having a rare opportunity to use the knowledge and skills that I had acquired back at the college to provide better results during y internship which gave me the sense of confidence and self belief.
•
Career-wise, the internship programme undoubtedly enriched my curriculum vitae (CV). Also, having gotten a chance to interact with tremendously .helpful and talented employees of the company.
•
The internship programme gave me a chance not only to work with company but also gave me an opportunity to visit various successful companies which further improved my professionalism
•
Working with people from different corporates was a rare ch ance that you can’t easily get from any other organization. Therefore to me this was another opportunity to socialise and improve my proffesional contacts.
To conclude, I can state that my internship was a rewarding experience and provided me with some new perspectives that I did not come across during my studies in the college. I also h ave to stress that my colleagues at the Ferrero India contributed greatly to making my stay there a very enjoyable one. Particularly, working together with them was a true pleasure and their faith in my abilities was a real source of motivation to date
Questionnaire
1. Is the customer aware of ferrero rocher chocolate box? a. yes b. no
2. Are they willing to buy the product? a. yes b. no
3. Are they already using Ferrero product? a. yes b. no
4. What is their main agenda? a. getting better discount b. getting quality product c. speedy delivery d. other
5. why are they interested in buying Ferrero? a. corporate gifting b. employee of the month c. annual celebrations d. festivals e. other
6. Were they more inclined towards the discount available? a. yes b. no
7. What is that they like about Ferrero ? a. high quality product b. represent high class c. its taste d. other
8. What were they using previously for corporate gifting? a. Ferrero b. Other chocolate or Indian sweet product c. Non eatable gift product d. Other
9. What was the reason behind sales not happening? a. wanted extremely high discount rate b. were not happy with the product c. wanted to order later during the required time d. wanted to consider other options as well e. other
10. were they interested in packed Ferrero Rocher box? a. yes b. no
Recommendations
Most important step that Ferrero India Pvt Ltd must follow to improve its position is the market is to create its own personalized website. It not just helps in the promotion of the company but also ensures the authenticity of the company. Apart from this company should also employ particular group o f the people who will handle the complete corporate sales and distribution channel for this purpose. Better brochure should be provided to the employee when he is visiting a high profile company because it lays a good impression on the company. Also it is something tangible that a customer can keep with himself. Also distribution channel particularly for the corporate clients should be increased. Various measures should be taken to increase the contacts with the caterers of the different companies and various other distributaries. T3 Ferrero chocolate (smallest pack) should also be gifted and opened for tasting purposes during the meeting so that they oblige and are more convinced to buy the product. This act will highly enhance the chances of making the sales. Someone should be appointed by the company who would handle all the mailers and the email account of the company and will mail the prospective customer with the brochures and the pamphlets explaining the offers and schemes available.
BIBLIOGRAPGY
BOOKS REFERRED TO :
The True History Of Chocolate by Sophie D. Coe
WEB SITE CONSULTED :
www.ferrerochocolatesusa.com www.ferrerousa.com www.ferrero.com www.chocolatemonthclub.com/chocolatehistory.htm www.green-organic-world.com/history-of-chocolate.html small-biz-center.blogspot.com/.../benefits-of-corporate-gift-giving-can.html uberarticles.com/.../corporate-gifts-why-they-are-essential-in-business
Chapter
Content Declaration Acknowledgement
1. 2. 3.
Executive summary Objective Company profile Brief history about chocolates
Ferrero history
Ferrero mission
Ferrero varieties
Other products by ferrero
4.
Csr initiatives at ferrero rocher
5.
Corporate gifting
Mostly used items for corporate gifts
6.
Various phases in making sales
Selecting a prospective customer
Making a call Setting up a meeting
Making the sale.
Ending the deal Sending the delivery
