This project has been a great learning experience for me and at
the same time it gave me enough scope to implement my analytical ability.
This project is all about Reliance Money's marketing
strategy which differentiates the company from ICICI Direct.
In Early 2009 when their was global recession took place customers lost their trust on available financial instruments. As per my personal experience customers even didn't wanted to get a Zero balances trading or bank account open as their was a no TRUST factor. I went to some customers/shop keepers randomly and offered a zero balance account opening Trading account from Reliance money and customer only needs to share Pan Details and Cancelled check but no one was interested, its because no trust and no understanding of the products offered by Reliance or ICICI.
In Early 2009 when their was global recession took place customers lost their trust on available financial instruments. As per my personal experience customers even didn't wanted to get a Zero balances trading or bank account open as their was a no TRUST factor. I went to some customers/shop keepers randomly and offered a zero balance account opening Trading account from Reliance money and customer only needs to share Pan Details and Cancelled check but no one was interested, its because no trust and no understanding of the products offered by Reliance or ICICI.
So we changed our approach (changes in marketing strategy) and started educating customers with benefits and features of the available financial instruments and growing money which are lying in saving accounts with 3% annual return to at-least 8 to 10 % annually. However we also want our customers to know the risk factors and hidden charges if any. Without risk no one get maximum profit so customer needs to realize that & we need to change the mindset.
Approach worked and we as a team got more than 10000 applications for trading account opening in a month. Its was a big achievement considering the SUBPRIME era. Now its total depend upon the after sales service basis customers stay, retain or leave.
Approach worked and we as a team got more than 10000 applications for trading account opening in a month. Its was a big achievement considering the SUBPRIME era. Now its total depend upon the after sales service basis customers stay, retain or leave.
Company Info & Strategies:
- About Reliance Money & ICICI Direct
- Different marketing strategy
- Percentage of company’s capitalization.
- Segmentation strategy
- Worldwide response
- Tie-ups and current status
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| Project and Presentation |
Reliance Money offers most dynamic web based trading environment to its customers. The new trading platform has many new features which basically fill up the gap between old online trading companies in India and their customers. Reliance Money stock trading websites uses special security features 'Security Token', which makes you online trading experience more secure without complexity.
All the quarries of the customer asked by them had been solved with the support of the seniors in the organization. The problems of the customer were being recorded for the purpose of the research and development.
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