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1. A Project Report on
“Relationship Marketing” in Capital Market
RELIGARE SECURITIES LIMITED
SUMMER TRAINING PROJECT REPORT
SUBMITTED TOWARD PARTIAL FULFILLMENT
OF
BACHELOR OF BUSINESS ADMINISTRATION
(Affiliated To Ch. Charan Singh University, Meerut)
ACADEMIC SESSION
2007-2010
SUBMITTED BY:
PRASHANT AGARWAL
ROLL NO: - 9351702
UNDER THE GUIDENCE OF:-
EXTERNAL SUPERVISOR INTERNALSUPERVISOR
MR. RAMAN TALWAR (BRANCH MANAGER) MR. TUSHAR JINDAL
MR. SACHIN AGGARWAL (SENIOR RELATIONSHIP MANAGER) (LECTURER)
MR. NESAR AHMED (RELATIONSHIP MANAGER) IMS GHAZIABAD
INSTITUTE OF MANAGEMENT STUDIES
C-238, BULANDSHAHR ROAD
LAL QUAN, PB NO:
GHAZIABAD- 201009

2. DECLERATION
I, PRASHANT AGARWAL Student of BBA Final year, Institute of Management
Studies, Hereby declare that the project on “Relationship Marketing in Capital
Market” has been done under the guidance of MR.TUSHAR JINDAL (LECTURER),
Institute of Management Studies & Mr. Sachin Aggarwal,{ Sr. Relationship Manager
(Preet vihar Branch)} Religare Securities Limited, New Delhi.
PRASHANT AGARWAL
9351702
IMS GHAZIABAD

3. TO WHOMESOEVER IT MAY CONCERN
This is to certify that. PRASHANT AGARWAL student of BBA 2007-2010 batch,
IMS Ghaziabad, has done his training project under my supervision and guidance.
During his project he was found to be very sincere and attentive to small details
whatsoever was told to him.
I wish him good luck and success in his future
MR.TUSHAR JINDAL
(LECTURER)
IMS GHAZIABAD

4. ACKNOWLEDGEMENT
I would like to express my Acknowledgement to those people, without
whose contribution, Support and guidance this Report would not have seen
the light of the day. Notable among them are Mr. Raman Talwar (Branch
Manager Preet vihar), Mr. Sachin Aggarwal (senior relationship manager
preet vihar), and Mr. Nesar Ahmed (relationship manager preet vihar) who
was my Project Guide and who helped me in a lot.
I am also thankful to all other employees of Religare who guide me during
my Project.
I am also thankful and would like to express my Gratitude to the,
MR.TUSHAR JINDAL and the entire Institute for giving me a Platform to
have this wonderful opportunity and being able to get a glimpse of the
Corporate Word
I am also thankful to Mr. Rohit Seghal (Head Corporate Resource
Center) for there constant Support and valuable suggestion.
With Regards,
PRASHANT AGARWAL

5. PREFACE
As a Part of BBA PROGRAM, Student has to pursue a project duly approved by the
Faculty of Concerned area. I had the privilege of undertaking the project on
“Relationship Marketing in Capital Market” in Religare Securities Limited. Main
aim of the Project is to study how to build a long term relationship with the customer.
My Project work is divided into following parts which are as under.
1. Objective
2. Executive Summary
3. Relationship Marketing
4. Methodology
5. Data analysis & Interpretation
6. Finding & Recommendations
7. Conclusion
8. Appendices
9. Bibliography
CONTENTS

6. List of Tables
List of Graphs / Figures
TOPIC PAGE NO
1. EXECUTIVE SUMMARY 7
2. INTRODUCTION 9
INDUSTRY PROFILE
COMPANY PROFILE
ORGANISATION STRUCTURE
3. OBJECTIVES 24
4. METHODOLOGY 26
5. RELATIONSHIPMARKETING 59
. DATA ANALYSIS & INTERPRETATION 84
8 FINDINGS 115
9. LIMITATIONS OF STUDY 117
10. CONCLUSION & RECOMMENDATIONS 119-121
11. APPENDCES 123
12. ANNEXURE 125
13 .BIBLIOGRAPHY 128
EXECUTIVE SUMMARY

7. The Present business scenario is totally consumer oriented. Every company faces stiff
competition from its competitors, each provides the best product at competitive rates. As
a result customers have lot of choices to get the best with the least cost. To face this
competition, it is very important to know customer’s behavior, there needs, preference
and also the motivation factors.
My Project was on “Relationship Marketing of Financial Products” Dealing in the
financial product with in the New Delhi to know the Motivational & demotivational
factors of the client so as to cater the needs in most appropriate manner. It will help
business to expand its network & also its services.
I had done my project under the guidance of My Guide Mr. Raman Talwar (Branch
Manager) Mr. Sachin Aggarwal (senior relationship manager) and MR. Nesar Ahmed
(Relationship manager) whose guidance helps me in completing my Project Work
Successfully.
Religare Securities Limited Provide its Expert service in Capital market Operations to
institutional Investors. Company is a Member of National Stock Exchange as well as
Bombay Stock Exchange. Religare is slowly but steadily gaining market share and
goodwill in the Market. Its strategies for marketing its services as well as developing a
good Relationship Marketing with its client has given an edge over the other service
providers. Religare is on expansion path and is looking forward to be in the top. Religare
is a very flexible organization and its gives equal opportunity to its young and energetic
staff to work so as to bring this organization among the top.
This project also throws lights on the working frame of broking service. This industry is
on the spree to adopt the latest technology and thus any player has to be dynamic in this
industry. The comparative analysis done in this project show how Religare has built
competitive edge on some ground. The Project help you understand the strategies of this
industry right from De-Mat to Trading, Margin to analysis and risk to return. I hope this

8. project prove to be beneficial for the Company and also give the reader a through idea
about the industry. I learnt a lot through out the process of undertaking this project report.
To fulfill my task I had to visit the client personally who are dealing in share trading with
this company or some other broking house.
For this project I was assign the target of 10 accounts, for which I first generated the
database and made appointment with them and convert them in as traders of Religare
Securities Limited, for this I have to convince them and explain the concept and collect
the Trading Form and a cheque of Rs. 5000 only.
After going through the exercise I found that RSL is one of the upcoming companies in
the Marketing of financial Product, as the credibility of other companies are going down
in the market and it is the right time for the RSL to built its reputation in the market. The
Main reason for RSL low market share is because of local brokers in the market which a
charging very less Margin as initial investment for Trading in Stock Market.
But No doubt it is having lots of scope to grow in the financial Market, and I wish it is
having a shining future in the coming years.

10. ABOUT RELIGARE SECURITIES
INTRODUCTION
Religare is driven by ethical and dynamic process for wealth creation. Based on this, the
company started its Endeavour in the financial market.
Religare Enterprises Limited (A Ranbaxy Promoter Group Company)
Through Religare Securities Limited, Religare Finvest Limited, Religare ComdexLimited
and Religare Insurance Advisory Services Limited provides integrated Financial
solutions to its corporate, retail and wealth management clients.
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 1500 highly skilled professionals who
subscribe to Religare philosophy and are spread across its country wide branches. Today,
we have a growing network of 150 branches and more than 300 business partners spread
across 180 cities in India and a fully operational
International office at London However, our target is to have 400 branches and 1000
business partners in 300 cities of India and more than 8 International offices by the end of
2007.

11. Unlike a traditional broking firm, Religare group works on the philosophy of partnering
for wealth creation. We not only execute trades for our clients but also provide them
critical and timely investment advice. The growing list of financial institutions with
which Religare is empanelled as an approved broker is a reflection of the high level
service standard maintained by the company.
Religare has a very credible team research & Analysis division, which not only caters to
the need of our institutional client but also gives there valuable input to investment
dealers.
Religare is among the capital market fraternity and the most vibrant place in terms of
information and every day it is consolidating its efforts to provide more customized
services to its clients.
Religare in recent past has been constantly innovating in terms of the product & services
which it offers, and in this respect it has started a premium NRI, HNIs & corporate
servicing group. This group specifically caters to the growing investment needs of these
premium clients categories by taking all there portfolio investment decisions depending
upon there risk / returns parameter.

12. FORTIS SECURITIES LIMITED
MISSION:
Providing integrated financial care driven by the relationship of trust and
confidence.
VISION:
To be India's first Multinational providing complete financial services
solution across the globe.

13. RELIGARE SECURITIES LIMITED
Religare Group of Companies:
Religare Enterprises Limited group comprises of Religare Securities Limited, Religare
Comdex Limited, Religare Finvest Limited and Religare Insurance Advisory Limited
which deal in equity, commodity and financial services business.
RSL is one of the leading broking houses of India and are dealing into Equity Broking,
Depository Services, Portfolio Management Services, Institutional Equity Brokerage &
Research, Investment Banking and Corporate Finance
Extension of services has been a constant feature in Religare to regard the needs of our
clients. Consequently, company is soon going to launch Internet Trading and Merchant
Banking. This would take care of different investment needs of different classes of
investors
To facilitate free and fare trading process Religare is a member of major financial
institutions like, National Stock Exchange of India, Bombay Stock Exchange of India,
Depository Participant with National Securities Depository Limited and Central
Depository Services (I) Limited, and a SEBI approved Portfolio Manager
RSL serves a platform to all segments of investors to avail the opportunities offered by
investing in Indian equities either on their own or through managed funds in Portfolio
Management.

14. Religare Comdex Limited:
Religare is a member of NCDEX and MCX and provides platform for trading in
commodities, which is an online facility also.
RCL provides platform to both agro and non-agro commodity traders to derive the actual
price of the commodity and also to trade and hedge actively in the growing commodity
trading market in India.
With this realization, Religare Comdex is coming up with its branches at 42 mandi
locations. It is a flagship effort from our team which would be helpful in facilitating trade
and speculating price of commodities in future.
Religare Finvest
Religare Finvest Limited (RFL), a Non Banking Finance Company (NBFC) is
aggressively making a name in the financial services arena in India. In a fast paced,
constantly changing dynamic business environment, RFL has delivered the most
competitive products and services.
RFL is primarily engaged in the business of providing finance against securities in the
secondary market. It also provides finance for application in Initial Public Offers to non-
retail clients in the primary market
RFL is also planning to initiate personal loan portfolio as fund based activity and mutual
fund distribution as fee based activities
Along with this, the company also undertakes non-fund based advisory operations in the
field of Corporate Financing in the nature of Credit Syndication which includes bills
discounting, inter corporate deposit, working capital loan syndication, placement of
private equity and other structured products

15. Religare Insurance Advisory Ltd.
Religare has been taking care of financial services for long but there was a missing link.
Financial planning is incomplete without protective measure i.e. structured products to
take care of event of things that may go wrong
Consequently, Religare is soon coming up with Religare Insurance Advisory Services
Limited. As composite insurance broker, we would deal in both insurance and
reinsurance, providing our clients risk transfer solutions on life and non-life sides.
This service will take benefit of Religare’s vast business empire spread throughout the
country -- providing our valued clients insurance services across India. We aim to have a
wide reach with our services – literally! That’s why we are catering the insurance
requirements of both retail and corporate segments with products of all the insurance
companies on life and non-life side
Still, there is more in store. We also cater individuals with a complete suite of insurance
solutions, both life and general to mitigate risks to life and assets through our existing
network of over 150 branches – expected to reach 250 by the end of this year!
For corporate clients, we will be offering value based customized solutions to cover all
risks which their business is exposed to. Our clients will be supported by an operations
team equipped with the best of technology support.
Religare Insurance Advisory aims to provide neutral, transparent and professional risk
transfer advice to become the first choice of India.

16. COMPANY PROFILE

17. Religare Securities Ltd. is a wholly owned subsidiary of Fortis Financial Services Ltd. A
company promoted by the late Dr. Parvinder Singh, Ex- CMD of Ranbaxy Laboratories
Ltd.
The Primary focus of RSL is to cater services in capital Market operations to Institutional
Investors. The company is a member of the National Stock Exchange (NSE).
BUSINESS & OPERATION
BUSINESS
Over a period of time RSL has recorded a healthy growing rate both in business volume
and profitability as it only the major players in this line of business. The business thrust
has mainly in the development of business from Financial Institutions, Mutual Funds and
Corporate.
OPERATIONS
The operations of the company are broadly organized among the following functions.
10. Research & Analysis
This group is focused on doing stock picks and periodical scrip/ Segment specific
research. They provide the best of analysis in the industry and are valued by both our
institutional and Retail Clients.

18. 11. Marketing
This group is focused on tracking potential business opportunity and converting them
into business relationships. Evaluation the need of the clients and tailoring products to
the meet there specific requirements help the company to build lasting relationship.
12. Dealing
Enabling the clients to procure the best rates on there transactions is the core function
of this group.
13. Back office
This group ensures timely delivery of securities traded, operation matters with stock
exchange, statutory compliance, handling tasks like pay-in, pay-out, etc. This section
is fully automated to enable the staff to focus on the technicalities of securities trading
and is manned by professionals having long experience in the field.

19. INFRASTRUCTURE
Offices
The company has offices located at prime location in Mumbai, New Delhi, Kolkatta and
Chennai. The offices are centrally located to cater to the requirements of institutional and
corporate clients and retail clients, and for ease of operation due to proximity to stock
exchange and banks. Today we have more than 170 branches all over India.
Communications
The company has its disposal, an efficient network of advance communication system
and intend to install CRM facilities, besides this it is implementing interactive client
information dissemination system which enable clients to view there latest client
information on web. It has an installed multiple WAN to interconnect the branches to
communicate on real time basis.
The company is equipped with most advanced system to facilitate smooth functioning of
operations. It has installed its major application on IBM machine and uses latest state of
art financial software.

20. MANAGEMENT
Mr. Sunil Godhwani is Chief Executive Officer and Managing Director of Religare
Securities Limited. He is also the CEO and MD of the parent company Fortis Financial
Service Limited and is managing the entire operations of both the companies.
CEO is supported by various HODs who are creditable professional consisting of
Chartered Accountants, MBAs with varied experience in financial services and stock
broking functions.
The Board of Directors consists of Mr. Harpal Singh as Chairman and Mr. V.K. Kaul,
Mr. Malvinder Mohan Singh, Mr. Shivinder Mohan Singh as Directors.
DEPOSITORY PARTICIPANT SERVICES
Religare Securities Limited has also ventured into depositary services to its clients and is
among leading depository services provider having more than 3000 Crore worth of
securities under its custody.

21. COMPETITIVE EDGE IN MARKET
14. Participant on the country’s premium exchange:
Religare is a member of the country’s premium stock exchange- The National Stock
Exchange of India (NSE) as well as Bombay Stock Exchange (BSE)
 Clearing membership on Capital & Derivative Segments:
It has clearing membership on both the Capital Market and Derivative segments of
the exchange. We are also authorized to trade the retail debt market.
 Depositary Participant with NSDL & CDSL:
We are depositary participants with the country premium depositary service- National
Securities Depository limited (NSDL) as well as with the only depository with a country
wide reach – Central Depositary Service Limited (CDSL)
 Leading Private sector bank as partner:
Our banking partner is HDFC Bank, ICICI Bank & UTI Bank – The foremost private
sector bank in the country, which has the most technologically advanced infrastructure in
the country, with internet banking allowing access to information 24x7.

22.  Prime office location:
We have prime office location in the nation’s political capital and the business capital –
Delhi & Mumbai.
 Research Capabilities:
We have a dedicated team of analysts in our Bombay office – They provide fundamental
analysis of stock and markets, which are fundamentally strong and are helpful for retail
investors.
 Technical Analysis:
A daily technical newsletter is published by our in house technical analyst, who is a
recognized leading practitioner in capital market. He tracks the progress of the calls on
the real- time basis, and advises of any change in the profit points of stop loss levels.
Thus with this in house services that is provided by Religare Securities Ltd. To its
Clients has given a competitive edge & more over it has given trust and confidence to
its retail investors to as to build a long term relationship with its clients.

23. CORPORA
TE
STRUCTU
RE
Our organization is led by individual who are professional and leaders in every sense of
the world. Experts in their respective domain, esteem members of our Board of Directors
are:
Name
Designation
Mr. Harpal Singh
Chairman
Mr. Vinay Kumar Kaul Director
Mr. Malvinder Mohan Singh Director
Mr. Shivinder Mohan Singh Director
Mr. Sunil Godhwani M.D

24. STRUCTURE OF THE ORGANIZATION
The company owes its success to its strong management team, most of which has been there since its inception.
Organization Structure:
National Sales and Marketing Head
Vice President-Investment Vice President-Sales
Assistant Vice President-Investment Assistant Vice President-Sales
Zonal manager investment Regional Sales Head
Senior Investment manager Branch Manager
Manager Investment Team Leader
Relationship Manager
Associate Relationship Manager
Asst. Relationship Managers

25. Relationship Executive.

26. OBJECTIVES
Primary Objective:
• To Study how to build a relationship marketing in Capital Market.
Secondary Objective:
• To study various financial products like Equity, Mutual Funds, Commodity&
Portfolio Management Services.
• To Study the various services provided by Broker house to there clients.
• To know investors experience in capital market
• To study what other services investors expect from their broker house.

28. RESEARCH METHODOLOGY
Research:-
The study of research method provides you with the knowledge and skills
you need to solve the problem and meet the challenges of the fast- based decision.
Marketing environment we define Business Research as a systematic inquiry
whose objective is to provide information to solve managerial problem.
It seeks to find explanation to unexplored phenomena to clarify the doubtful
facts and to correct the misconceived facts.
Types of Research:
Descriptive Research:
Descriptive study is a fact- finding investigation with adequate interpretation.
It is the simplest type of research. It is more specific than an explanatory study, as
it has focus on particular aspect of the problem studied. It is designed to get her
descriptive information and provide information for formulating more
sophisticated studies. Data are collected by using one or more appropriate
method, observation, interviewing and mail questionnaire.

29. Type of Data Used:-
There are basically two types of Data
• Primary Data
• Secondary Data
Primary Data:-
Primary Data is first hand information that the researcher collects. It helps in
collecting useful and most accurate information that is needed for the researcher to do his
research.
Sources of Primary Data:-
• Questionnaire
• Interview Schedule
Secondary Data:-
Secondary data is what the researcher collects from different sources. It also help
researcher to get elaborate information to do his research.

30. Sources of Secondary Data:-
• Internet
• Journals
Target Group/ Population:-
As this research is based on Relationship Marketing my Target group is my Clients
who are using the Services of Religare Securities in Dealing with Capital Market.
Area of Study:-
NCR Region
Tools for Data Collection:-
The Various method of Data gathering involves the use of appropriate recording forms.
These are called tools or instrument of data collection.
Sample Size :-
50 (Fifty)

31. Questionnaire:-
• Close Ended Question:-
Are structured ones with two or more alternative responses from which
respondent can chose. They contain standardized answers and they are simple
to administer and easy to compile and analyzes.
• Dichotomous or two- choice questions:-
A dichotomous question can be answered in one of the two
responses such as “Yes” or “No”. It is necessary to realized that in many
two choices question there may be potential alternative beyond the stated two.
• Multiple Choice questions:-
These questions contain more than two alternatives.
Following points should be remembered before making this question
 The list of alternative choice should be exhaustive.
 It Should not overlapping
 There should be fair balance in choice
 All alternative should be reasonable.

32. SAMPLING
The Basic idea of sampling is that by selecting some of the element in a population in
order to get first hand information of study.
There are two type of sampling probability Sampling & Non probability sampling and in
this research, Researcher has taken probability sampling.
Probability Sampling:
Probability sampling is most commonly associated with survey based research where
you need to make inferences from your sample about a population to answer your
research questions or to meet your objectives. The process of probability sampling can be
divided into four stages:
1. Identify a suitable frame based on your research question or objectives
2. Decide on a suitable sample size
3. select the most appropriate sampling technique and select the sample
4. Check that the sample is representative of the population
The objective of probability sampling depends on the research question & on the
objective. Subsequently I need to have face to face contact with respondents.

33. Simple random sampling
Simple random sampling involve in selecting sample at random from the sampling frame
using either random no. table. In my research I had use random selection of respondent
who used to come for the trading purpose in Religare securities office it is most accurate
and easily accessible form of sampling method
Convenience Sampling
Convenience or haphazard sampling involve selection haphazardly those cases that are
easiest to obtain for your sample, Such as the person interviewed at random in a shopping
center for the interview programmed. The sample selection process is continued until
your required sample size has been reached. Although this techniques of sampling is
widely used it is prone to bias and influence that are beyond your control. I has selected
convenience sampling as some of the respondent are my clients only.
Technique used for analysis & interpretation:-
• Bar Diagram & Pie Chart
• Percentage Analysis
• Chi Square Test
Percentage Analysis:
Percentage Analysis is used for making comparison between two or more series of data.

34. Percentage (%) = No. of respondents * 100 / Total No. of respondents.
Chi- Square Test:
Many time manager need to know weather the differences they observe among several
sample proportion are significant or only due to chance.
X2 = (fo-fe)2
fe
Determine Degree of Freedom:
No. of degree of freedom = (No. of rows -1) (No. of Columns-1)
Pilot Testing:-
A pilot testing is conducted to detect weakness in design and instrumentation and
provide proxy data fro flections of a probability sample. The objective of pilot survey is
to filter unnecessary question, question which are difficult to answer and improve the
phrases of certain question.

36. RELATIONSHIP MARKETING
Relationship Marketing has an aim of building mutually satisfying long term relationship
with its clients in order to earn and retain their business. Marketer accomplishes this by
promising and delivering high quality product and services at fair price to the other
parties over time. Relationship marketing build longs strong economical, technical and
social ties among the parties. The ultimate outcome of relationship marketing is the
building of unique company assets called the marketing network.
A Marketing network consists of the company and its supporting stakeholders (Clients,
Employees, ad agencies and others) with whom it has built mutually profitable business
relationship. The operating principal is same build an effective network of relationship
with key stakeholders.
• Marketing Channel: To reach target market, marketer uses three kinds of
marketing Channel.
1. Communication Channel: It deliver & receive message from target buyers and
include newspaper, television, telephone etc.
2. Distribution Channel: To display sell or deliver the physical product or service(s)
to the buyer or user. This includes distributor and agents.
3. Service Channel: To carry out transaction with potential buyers. Marketer clearly
faces a design problem in choosing the best mix of communication, distribution
and service channel for their offerings

37. • Supply Chain: The marketing channel connect the marketer to the target buyers,
the supply chain describe a longer channel stretching. The supply chain represents
a value delivery system. Each company captures only a certain percentage of total
value generated by the supply chain. When a company acquires competitor or
moves upstream of downstream, its aim is to capture a highly percentage of
supply chain value.
• Competitor: It includes all the actual and potential rival offering and substitutes
that a buyer might consider. We can broaden the picture further by distinguishing
four levels of competition based on the degree of product sustainability:
1. Brand Competition: A company sees its competition as other companies
offering similar products and service to the same customer at similar price.
2. Industry Competition: A company sees its competition as all company making
the same products or class of products
3. From Competition: A company sees its competitors as all companies
manufacturing products that supply the same service.
4. Generic Competition: A company sees its competitors as all companies that
compete for the same consumer.

38. Marketing Environment: Competitor represents only one force in the environment in
which the marketer operates. The marketing environment consists of the task
environment and the broad environment.
1. Task environment: It includes immediate actors involved in producing,
distribution and promoting the offering. The main actors are the company,
suppliers, distributing, dealers and the target customer.
2. Broad environment: It consists of demographic environment, economical
environment, natural environment, technological environment, political
environment, and socio- cultural environment. These environment contain forces
that can have a major impact in task environment

39. Principles of Relationship Marketing:
The principal of personal selling and negotiation thus for described are transaction
oriented because their purpose is to close a specific sale, but in many cases the company
is not seeking an immediate sale, but rather to build a long term suppliers- customer
relationship. The company wants to demonstrate that it has the capabilities to server the
account’s needs in a superior way. Today’s customers are large and often global. They
prefer suppliers who can sell and deliver a coordinated set of product and services to
many locations.
When a relationship management program is promptly implemented, the organization
will begin to focus as much on managing its customer as on managing its products. At the
same time companies should realize that while there is a strong and warranted move
toward relationship marketing, it is not effective in all situations. Ultimately companies
must judge which segment and which specific customers will respond profitably to
relationship management.

40. Customer Relationship Management
Customer Relationship Management (CRM) is a well known business concept. Managers today are working
hard to build and maintain a relationship with the customer - given the importance of customer lifetime
value. While the concepts of CRM and Customer Lifetime value are well established and understood by
managers, managing customer relationships has become a challenge for many managers. Several firms
have implemented dedicated software tools (Seibel, salesforce.com etc.) for customer relationship
management, and even more number of companies is planning to do the same. Few firms have even
created offices of customer relationship management: Client partners, Account managers, Program
Managers etc. In spite of all these efforts, managers are finding it hard to manage customer relationships
the challenge of managing customer relationships led to a new concept called Levels of Customer
Relationships developed by INSEAD, France. The central theme of this concept is:
• Customer relationship is an evolutionary process that can be identified as 6 distinct
stages.
• Customers have different needs and expectations during different stages of this
relationship.
• Customer relationship is a dynamic process and can move from one stage to another
based on customer's aspirations and customer's buying experience

41. Why do customers have a relationship with the vendor?
Every salesman knows that customer often wishes to have a relationship with the vendor. Many firms
therefore want to make use of this relationship and have instituted customer loyalty programs - aimed at
rewarding loyal customers. For example, Airlines have free miles program, credit card firms have points
program, Grocery stores have a special discount for loyalty card holders etc.
Looking from the customer's perspective, customer expresses a need for a relationship with the vendor for
a few basic reasons: satisfy their needs, convenience, reliability, lower cost of transaction. Customers need
products or services and will obtain them, but they are willing to enter into a relationship with the seller to
make the process of buying easier and a more pleasant experience.
One has to note that the intensity or depth of the relationship which the customer expresses to have with
the vendor depends in the intensity of his/her needs. If a product/service is vital to the customer e.g.
financial product, then customer is willing to have a deeper relationship in order to have their needs
satisfied as precisely as possible. On the other hand if the customer wants a routine service or generic
product e.g. customer needs tips from his broker while trading in the stock market, then the relationship is
superficial - characterized by buyer's convenience. To understand this considers the following examples:

42. 1. Customer, who is a telecom service provider, wants to implement a ERP software.
Since the software has to be customized for the Telco, the customer is willing to
establish a deep relationship with the vendor by having a development &
maintenance contract with the vendor.
2. Customer, who wants a copy of MS Project installed in a computer. Since this is a
simple purchase, the customer wants to buy it from a near by store and install it
himself. Thus there is no real relationship between the customer and the vendor.
Both examples point to the fact that the level of relationship a vendor enjoys with the customer is directly
dependent on the criticality or importance of customer's Needs. In short, customers enter into a relationship
with the vendor in order to serve their own needs.
Strengthening Customer Relationships
We now understand that the depth of the relationship between vendor and customer is directly dependent
on the intensity of the customer's needs. Also note that the depth of relationship is defined by the customer.
This creates a challenge for a salesman or a marketer at the vendor firm. For a vendor to increase sales, the
vendor firm must improve the relationship with the buyer. And to improve the relationship, vendor must
know the current level/stage of relationship he has with the customer. So the first step in managing
customer relationship is to know and understand the levels of customer relationships.

43. Levels of Customer Relationships
As mentioned earlier, relationship between buyer and seller can be identified in 6 distinct levels. Level-1
being the lowest level of relationship and level-6 being the deepest level of relationship
Level-1: Utility Need
Level-2: Convenience Need
Level-3: Comfort Need
Level-4: Personal Recognition Need
Level-5: Self-_expression Need
Level-6: CO-Creation Need
From a marketing perspective, the customer lifetime value is lowest at level-1 and is highest at level-6. This
is also reflected in the revenue or sales from a customer. Customer, with whom a company enjoys the
highest level of relationship, will also

44. Be the most profitable customer. It is therefore in the vendor's best interest to have very deep relationship
with the customer.
Level-1: Utility Need
This is the most basic interaction between customer and vendor. Here the customer desires to buy a
particular product/service. Customer interacts with the seller with the sole aim of acquiring the
product/service. The relationship between the firm and the customer is characterized by efficiency in
transactions, straight forward, no-frills selling. To increase sales, vendor must work on availability of the
product/service. Customer will buy only if a product/service appeals to the rational side of the customer i.e.
Price and convenience. Customer does not bond with the vendor as the relationship is a purely utilitarian
one - exchange of goods/service for money.
The vendor should respond to the customer (in this level of relationship) by providing the required
goods/service, and refrain from interacting at a deeper level i.e., by not offering added products/service -
other than those requested by the customer. If the vendor insists or attempts to force a relationship to a
higher level, the customer may "pull-out" thus risking future sales.
To understand this, consider this example: If someone purchased a laptop from DELL Computers. He placed
an order online - for a particular configuration. His expectation from the vendor is that Dell will deliver the
computer on stated

45. Delivery date He is buying from Dell to meet by needs at a price which is attractive for him. If the salesman
at Dell attempts to push additional hardware or software - which is not what he wanted, he might get
annoyed and cancel the order.
Vendors must first identify the level of relationship the customer has with them, and then craft a strategy to
deepen it. In this case, a vendor can deepen the relationship by increasing the number of interactions. This
can be done by: Offering a wide range of products/service, having a 24/7 sales operations - i.e., Internet or
all 24 hour shops.
For example, Dell can increase the number of customer interactions by offering a full range of computer
accessories: Printers, Scanners, cartridges, office software,
Computer games etc. Dell can increase the number of customer interactions by offering value added
services such as on-site maintenance, free software updates etc.
Utilitarian relationships can be deepened by augmenting the basic service/goods with a value addition:
Cross selling or value addition.
Level-2: Convenience Need
Once the customer has easy access to service/goods that they need, customers look for ease of purchase
process this denotes a second level of relationship. The vendor should respond by providing services that
simplify the buying process i.e., identify and eliminate those procedures that are a hindrance to obtaining a
product/service.

46. For example, having a shorter checkout lines in a store, having the products courier & providing the
tracking number to the customer, having a service personal ready to attend the customer when the
customer enters the bank/hotel/office etc.
To improve the buying process, the vendor must understand thoroughly the entire customer purchase
experience and then eliminate the nagging problems in the purchase process. Service companies often
resort to mystery shoppers - who act as customers and buy the product/service to measure & improve the
buying experience. Often times, managers listen to feedback from front-line employees for suggestions to
improve the customer's buying experience.
For example, Dell provides the exact shipment details of the computer and is delivered on the specified
time. In addition, Dell has a complete e-Commerce website which enables a secure and easy payment
method. Airlines provide comfortable lounges at the airport - while customers wait for their flight. Airlines
also provide e-ticketing, curb side luggage check in, on-line flight details etc., to make customers feel
comfortable during the purchase process.
Often times, there are several instances of customers abandoning their purchase process in the midway.
This is the sure sign of an inefficient and inconvenient buying process
Relationships at this level can in strengthened by widening the service interactions with customers. By this I
mean, look at the ways the customer buys your

47. Product/service and then provide additional services to make it simpler and easier for the customer.
Customer Activity Mapping (CAM) & Customer Decision Mapping (CDM) are the tools that can be used to
analyze the decision making, buying, using, and consumption experience. And in each stage, the objective
of the vendor is to identify situations that pose obstacles to the buying process.
Making the buying process as pleasurable as possible, a vendor can strengthen relationship with the
customer in this level and also take the relationship to the next level.
Level-3: Comfort Need
Once the customer has a convenient buying process, then they wish to have a "pleasant shopping
experience" i.e., the customer seeks a buying interaction where he feels comfortable. This implies that the
vendor should foster a buying environment in which customer feels comfortable and is characterized by an
agreeable and relaxing purchase ambiance.
For example, many multi-million dollar business deals are done at resorts - away from the clutter of the
office environment. BASF, a fortune-100 chemical company often conducts the contract negotiations on a
luxury yacht. This provides the right ambiance and mood to put the customer at ease and feel comfortable
during the buying process.
Irony of this "comfort need" is that customers often overlook the comfort factor - and often customer
notices the absence of the comfort. A discomfort during the

48. Buying experience is easily noticed and registered, while comforts are forgotten by customer. CRM efforts in
this level must be focused on making the customer feel comfortable; create a feel-at-ease feeling. The
marketer should strive to provide customers comfort, fun, surprise, and other means of generating a
positive feeling. Note that this is distinctly different than relationship building at level-2, where the focus
was to remove any factor which caused inconvenience to the customer.
Relationship is built on a feeling of ease and comfort can be strengthened by providing more of the same -
greater comfort, fun and pleasant interaction environment. This involves training the front-end employees to
provide a Comfortable experience to the customer and being sensitive and responsive to the customer's
level of interaction the marketing efforts must be directed at improving/building the memory of pleasant
experiences of the customer.
Level-4: Personal Recognition Need
Often times, regular/loyal customers expect the vendor to interact in a way that his/her personal choices
are recognized. This implies that the customer is seeking a level of relationship where they expect the
vendor to recognize their needs - without them asking for it.
At this level, the loyalty of customer has been well established; customer enjoys the convenience and a
feeling of comfort. Here, in this level of relationship, the customer needs are "personal". In earlier levels,
the needs were mostly contextual, i.e., based on the context of buying experience.

49. CRM efforts at this level are to personalize the service/product offerings. For example, financial institutions
treat their high value customers with personalized checkbooks, providing a personal financial advisor, etc. In
business-to-business environment, this is characterized by having a dedicated relationship manager who
interacts with the client, who knows the clients exact needs and has the authority to deliver the customer's
needs. The "relationship manager" or "client partner" can also make suggestions; provide consulting advice
to the customer - Along with dinners/lunches, tickets to popular events etc.
Advent of Internet has created opportunities for vendors to provide customized web interfaces to each of
their clients. Amazon.com ebay.com etc Provide customers with customizable web interfaces
To bring a customer to this deep level of relationship, the level-3 relationship of making the customer feel
comfortable must always be accomplished. Only when the customer is comfortable, vendor can discover
(discreetly) the personal needs of the customer - and then move the relationship to the next higher level.
Relationship at Level-4 is analogous to that of a romantic partner - but not a spouse or fiancé. The
relationship at this level is more personal - but without invading the privacy of the customer. The timing
therefore needs to be right - so that any potential tensions or conflicts are avoided or reduced to minimum.
The company must know the customer details, possible tastes and preferences sufficiently well to

50. Build the relationship. Interactions must be respectful as exchange of personal information may be
perceived as invasive.
The irony of the CRM systems at this level is that customer feels that the CRM systems compromise
customer's privacy - and for that reason most customers are reluctant to share personal information with
the vendor, which in turn cause most CRM implementations fail. A salesman or marketer or account
manager must therefore take extra precaution not to reveal any personal information of the customer to the
CRM database system. This personal information must be carried in the mind of the vendor salesmen.
Customer's need for personal recognition may be met by very simple acts by the salesman, such as rewards
for customer loyalty (given to the customer - i.e., buying agent or the key decision maker), tailor made
products, and words of appreciation.
Level-5: Self-_Expression Need
Once the customer feels that the vendor recognizes him/her as person and can associate personally with
the vendor, the customer is ready for the next level of relationship - that is of Self-_expression. Customers
who are in this level of relationship expect the vendor to focus on customizing and personalizing the
product/service offerings. The customer expects the vendor to have a clear understanding of their needs
and the vendor should be able to meet them. The relationship is characterized by mutual trust, confidence &
respect.
For example, Dell Computers being a customer of Intel expects Intel to know its needs for latest and most
powerful microprocessors for the Christmas season. The

51. Customer then expects Intel (vendor) to announce and supply the latest processors in time so that Dell can
ship the computers to its customers in time for Christmas.
In a consumer world, a common example will be that of a (famous) client and his/her fashion designer. The
client expects the fashion designer to know his/her tastes and provide clothes accordingly.
It must be noted that in a B2B world, customers are more rational. Their business needs drives the
relationship and is partly independent of personal factors. As a result, vendor can build this relationship by
learning the customer needs. Based on these learning/insights, vendor should be able to offer highly
customized and personalized offerings.
Customer relationships in levels 1-4 are defined by customer's experience and is therefore heavily
dependent to the external environment (i.e., external to the customer). At levels 5 and above the
relationship depends on internal and external factors including rational and emotional considerations.
The key for success in building relationship at this level is to understand the customer's implicit needs - i.e.,
those needs which are not expressed verbally. Vendor can strengthen the relationship by understanding the
customer's implicit needs and focusing on different ways to customize and personalize the offerings. In a
B2B setting, this involves understanding the customer's business operations, business models and then
providing customized solutions: Like releasing products in time for Christmas or having goods packed in a
truck in a manner it is efficient for customer etc.

52. Level-6: Co-Creation Need
This denotes the highest level of customer relationship. At this level, customer is very comfortable dealing
with the vendor; the relationship is characterized by a sense of collaboration. The customer feels a need for
a unique product/service and is willing to work with the vendor to develop the product/service. Often the
idea of co-creation is initiated by the customer to the surprise of the vendor.
Co-creation relationships are personal and rational. At this level of relationship, the customer loyalty & trust
is very high. Customers are willing to invest for joint development of products/service. Customer feel closely
bonded to the vendor - to the point that the customer seeks a joint destiny with the vendor. I.e., some
aspects of customer's interests merge with that of the vendor's interests.
Co-Creation denotes the highest level of customer relationships. This relationship can be strengthened by
broadening interactions which involve co-creation of products/services.

54.  In which professions are you engaged in?
RESPONDENTS PERCENTAGE
Business 25 50%
Service 10 20%
Professional 10 20%
Entrepreneur 5 10%
TOTAL 50

55. 30
25
20
15
10
5
0
Business Service Professional Enterprenure
Interpretation:
50% of the respondents are Business Man
20% of the respondents are Service Man
20% of the respondents are Professionals

56. 10% of the respondents are Entrepreneur
Inferences:
From the above survey most of the respondents are found to be business
man by profession.
 Do you trade in Stock Market?
RESPONDENTS PERCENTAGE
YES 39 78%
NO 5 10%
EARLEAR, BUT 6 12%
NOW STOPPED
Total 50

57. 39
40
35
30
25
20
15
10 6
5
5
0
Yes No Earlier But Now
Stopped
Interpretations:

58. 78% of the respondents trade in stock
10% of the respondents do not trade in stock
12% of the respondents trade earlier
Inferences:
From the above survey most of the respondents trade in stock market.
 How much is your income or your Credibility
RESPONDENTS PERCENTAGE
Between 1- 2 lac 10 20 %
Between 2-3 lac 20 40 %
Between 3-4 lac 15 30 %

59. Above 4 lac 5 10 %
TOTAL 50

60. 10%
20%
1 - 2 lac
2- 3 lac
3 - 4 lac
30%
Above 4 lac
40%
Interpretation:
40% of the respondents are between 2- 3 lac
30% of the respondents are between 3-4 lacs
20% of the respondents are between 1-2 lacs
10% of the respondents are between above 4 lac
Inferences:
From the above survey most of the respondents falls under 2- 3 lac bracket.

61.  How much you trade in stock Market
RESPONDENTS PERCENTAGE
10,000 - 50,000 23 46%
50,000 - 1,00,000 15 30%
1,00,000 - 1,50,000 8 16%
Above 1,50,000 4 8%
TOTAL 50

62. 23
25
20
15
15
8
10
4
5
0
10,000 - 50,000 50,000 - 1,00,000 1,00,000 - 1,50,000 Above 1,50,000
Interpretation:
46% respondents invest 10,000-50,000
30% respondents invest 50,000- 1, 00,000
16% respondents invest 1, 00,000- 1, 50,000
8% respondents invest above 1, 50,000
Inferences:
From the above survey most of the respondents invest 10,000- 50,000 in
stock market.

63.  How much Return you Get after Investing
RESPONDENTS PERCENTSGE
Below 5% 10 20%
5- 10 % 27 54%
10- 15 % 9 18%
15- 20 % 4 8%
TOTAL 50

64. 30
25
20
15
10
5
0
>5% 5 - 10 % 10 - 15 % 15 - 20 %
Interpretation:
20% of the respondents get below 5%
54% of the respondents get 5- 10 %
18% of the respondents get 10 - 15 %
8% of the respondents get 15-20 %
Inferences:
From the above survey most of the respondents get 5- 10 % returns on their
investments.
 What according to you is your risk level?

65. RESPONDENTS PRECENTSGES
Highly Risky 5 10%
Average 27 54%
Moderate 9 18%
Risk free 9 18%
TOTAL 50

66. 9 5
Highly Risky
Average
Moderate
9
Risk free
27
Interpretation:
10% of the respondents are highly risky
54% of the respondents are average
18% of the respondents are Moderate
18% of the respondents are risk free
Inferences:
From the above survey most of the respondents are average risk takers

67.  Which mode of trading do you prefer?
RESPONDENTS PERCENTAGE
19 38%
Offline 31 62%
TOTAL 50

68. 35
30
25
20
15
10
5
0
Online Offline
Interpretation:
38% of the respondents prefer online
62% of the respondents prefer offline
Inferences:
From the above survey most of the respondents prefer offline trading as they
are new to stock market.

69.  What has been your investment experience in stocks?
RESPONDENTS PERCENTAGES
Excellent 5 10%
Good 12 24%
Average 20 40%
Bad 13 26%
TOTAL 50

70. 20
18
16
14
12
10
8
6
4
2
0
Excelent Good Average Bad
Interpretation:
10% of the respondents feel excellent
24% of the respondents feel good
40% of the respondents feel average
26% of the respondents feel bad
Inferences:
From the above survey 40% of the respondents have an average investment
experience in stock market.

71.  What extra services do you expect from your broker?
RESPONDENTS PERCENTAGES
Depository 2 4%
Marginal Financing 4 8%
P.M.S 7 14%
Trading 9 18%
Research 9 18%
All the above 19 38%
TOTAL 50

72. All the Above 19
Research 9
Trading 9
P.M.F 7
Marginal Financing 4
Depository 2
0 5 10 15 20
Interpretation:
4% respondents prefer Depository service
8% respondents prefer Marginal Financing
14% respondents prefer P.M.S
18% respondents prefer Trading
18% respondents prefer research
38% respondents prefer all the above services
Inferences:
From the above survey most of the respondents prefer all services that any
broker must provide to its clients.

73.  Are you satisfied with the service of your Broker House?
RESPONDENTS PERCENTAGES
Yes 27 54%
No 5 10%
Can’t Say 18 36%
TOTAL 50

74. 30 27
25
18
20
15
10
5
5
0
Yes No Can't Say
Interpretation:
54% of the respondents say yes
10% of the respondents say no
36% of the respondents say can’t say
Inferences:
From the above survey 54% of the respondents are satisfied the services of
their broker house.

75.  Rate the service according to your Criteria
RESPONDENTS PERCENTAGES
Excellent 5 10%
Very good 15 30%
Good 21 42%
Poor 9 18%
TOTAL 50

76. 25
20
15
10
5
0
Excillent Very Good Good Poor
Interpretation:
10% of the respondents say excellent
30% of the respondents say very Good
42% of the respondents say Good
18% of the respondents say Poor
Inferences:
From the above survey most of the respondents rate good to the services
provide by their broker house.

77.  Have you heard of Religare Securities?
RESPONDENTS PERCENTAGES
Yes 44 88%
No 6 12%
TOTAL 50

78. No, 6
Yes
No
Yes, 44
Interpretation:
88% of the respondents know Religare Securities
12% of the respondents don’t know about Religare Securities
Inferences:
From the above survey most of the respondents know Religare securities

79. If Yes then Specify
RESPONDENTS PERCENTAGES
Friends 17 34%
Newspaper 19 38%
T.V 10 20%
Other 4 8%
TOTAL 50

80. 20
18
16
14
12
10
8
6
4
2
0
Friends News Paper T.V Other
Interpretation:
34% Respondents say Friends
38% Respondents say Newspaper
20% Respondents say T.V
8% Respondents say other
Inferences:
From the above survey most of the respondents say Newspaper as a source
of information of Religare Securities

81. Chi- Square Test
 How would rate the services provided by your broker?
Sr. No. Services Provided Excellent Good Average Can’t say
1. Core Services
2. Facilitators service
3. Advisory services

82. Chi- Square test is used to determine is there any significant difference between the
services provided by the broker house. Null hypothesis is tested at 0.10 level of
significance Our Problem can be summarized.
 Ho: Null Hypothesis
 H1: Alternative Hypothesis
 Alpha = 0.10 Level of significance
Solution:
Ho: There are no significant differences between the services provided by the
broker house
H1: There are significant differences between the services provided by the broker
house
Services Excellent Good Average Cant say
Provided
Core 11 19 17 3 50
Services
Facilitators 12 14 19 5 50
service
Advisory 15 16 18 1 50
services
38 49 54 9 150

83. Degree of Freedom:
Formula: (r-1)(c-1)
(3-1)(4-1)
2*3
6 Degree of freedom
Fe= RT*CT
N
Chi- square Formula:
(fo-fe)2
Fe
Solution: 6.15
Conclusion:
The table value of 0.10 at 6 degree of freedom is 10.645 and the calculated value is 6.15. Since the
calculated value is less then the table value we can conclude that the Null hypothesis is right.
I.e. “there is no significant difference between the services provided by the broker house”.

84. My Experience at Religare Securities
I was in Marketing & Sales section under the guidance of Mr. Raman Talwar (Branch
Manager), Mr. Sachin Aggarwal & Mr. Nesar Ahmed who is a Sr. Relationship Manager
(Preet Vihar Branch). My job was to emplane the share trader with our company. I
basically target those people who are sub-broker but along with this I also target those
people who are active traders and also those people who are new to this sector.
My job was to first generate the lead then contact with them then explain the whole
concept to convince them to join our organization. I have to collect the Trading Form and
a Cheque of 5,000 Rs from them. It help me lot in enhancing my communication skills
and my relationship building attitude. It was totally a field job and I really enjoy working
with boss and other employees who are also very cooperative.

86. FINDINGS
In this survey most of the questionnaires are filled from brokerage houses where clients sit on the terminal
& trade in the stocks. As the data collected shows that people who mostly invest in the market are
businessmen & service class person who don’t have enough time to keep continuous watch on the market
fluctuation so they need regular assistance from their relationship manager who is assigned to them so
every company is suggested to enforce their relationship managers to stay in contact with their clients.
There are some No answer in this survey because many time clients may be with his friend who don’t trade
in the market & that friend might be interested or not do the relationship manager in that brokerage firm
must take some extra care for them. Here difference is because of the presence of the friend of client in the
brokerage house who doesn’t want to trade in the stock market because he might be afraid of losses or due
to lack of resources. But if that friend has lack of time than the relationship manager has to give a proper
assistance & dedication to that person so that friend can make himself to trade in the stocks. As technology
increases most of the people have less time to spend on the other activities than their core business so
most of the clients prefer online trading so they can put their bids whenever they want as 24*7. In the case
of online trading clients are not need to be provided any kind of assistance from their relationship manager
but if the dedicated relationship manager provide them a good assistance can put that relationship manager
& that organization apart from their competitors. But even after the presence of internet some people like to
trade through offline mode reasons might be lack of knowledge or cost sensitive as offline product is used
to being at lower cost so here in offline that dedicated relationship manager has to be in contact with his
client. Most of the people look for moderate return because of presence of risk well as the age group
changes the risk-taking factor as age increase people started investing in bonds where a fixed return is
possible. As the data shows most of the people were satisfied with their brokers because they are giving
them profits on their investment & they were ready to pay more to their brokers if they get some extra
services.

88. Limitation of the study:-
 Time spent in terms of data collection was less as most of the time we are busy to
complete our target
 Non availability of related people.
 Awareness level about the company is very low among the clients.
 Market was too volatile during the period of research.
 Sample size is small so sampling error may be committed.

90. Conclusion
In spite of the bleak and grim outlook the future of capital market it is growing at a very
high pace. Taking this things into consideration there are lots of opportunity for the
Broker House which already exist and which are due to enter in the Indian market. These
are little awareness about Equity and Mutual funds in India people have accepted it as
one of the major investment avenue. As people have entered in this particular investment
avenue they have lost there money because of movement in the market which is below
the par value and this has shaken the faith of investor in this particular avenue. Another
reason for low investment in this sector is due to country most of the companies not
performing well and also due to the scams that are taking place frequently Once people
know about the benefit offered by it, Capital market will become one the sought after
investment avenue. As far as other product marketed by Religare is concerned they have
a ready market. The only thing which is needed to focus on is that they should have a
strong marketing strategy so that prompt service and availability of forms is made
available to the investors at a short notice and if it keeps the traditional base for
marketing in India which is a price sensitive. We can say that Religare has a great future
ahead.
Religare has emerged a very strong player in the field of distribution of financial
product within a short period of one year in Northern India and is giving stiff competition
to the entire player in the Delhi & other parts. If the progress of Religare goes in the
same way then I can say that Religare will going to emerge as a major player in the
Capital market. They have much more potential to expand there business and market in
India.

92. Recommendation:-
The Recommendation which is to be suggested is as follow:-
• Religare securities should enhance the customer care department where queries
can be timely solved.
• Religare securities should provide more security to the existing and prospective
clients
• Religare securities should build its BRAND Image more strong by increasing
visibility
• There should be more banners posters pamphlets distribution in the market to
increase the awareness level among the people
• It should provide regular and update market information
• Special attention need to be given to the delivery of monthly & fortnightly report
to the clients
• Timely release of Brokerage & Fast redressed of clients grievance is a major plus
if Religare is looking to develop long term relationship with its clients
• Services should be more efficiently delivered to the prospective clients in order to
develop a long term relationship with the clients.

94. APPENDCES
Feature of Fortis Securities
 Marginal funding to leverage the clients to buy securities
 Exposure against share
 Carry forward facility- you can take the delivery one day and sell the very
next day
 Full online support for the online customers at no extra cost
 Technical analysis for the clients on the daily basis, other than the advice that
can get through phone
 Unique concept of Relationship Manager (RM’s) where the customer will be
assigned a dedicated RM who will be responsible for complete satisfaction
 Facility of collection & Delivering of cheque from the customer doors step
 Competitive brokerage (0.5% on Delivery based and 0.05% on Intraday,
Jobbing)

96. ANNEXURE
QUESTIONNARE
1. In which professions are you engaged in?
Business Service
Professional Entrepreneur
2. Do you trade in stock market?
Yes No Earlier, But now Stopped
3. How much is your income or your Credibility
Between 1 lac to 2 Lac Between 2 Lac to 3 Lac
Between 3 lac to 4lac Above 4 lac
4. How much you trade in stock Market
10,000 – 50,000 50,000 – 1, 00,000
1, 00,000 – 1, 50,000 Above 1, 50,000
.
5. How much Return you Get after Investing
>5% 5 – 10 %
10 – 15 % 15 – 20 %
6. What according to you is your risk level?
Highly Risky Average
Moderate Risk free
7. Which mode of trading do you prefer?

97. Online trading Offline trading
8. What has been your investment experience in stocks?
Excellent Good
Average Bad
9. What extra services do you expect from your broker?
a. Depository services
b. Margin financing
c. Portfolio management services
d. Trading
e. Research and Technical services
f. All of the above
10. Are you satisfied with the service of your Broker House?
Yes No Can’t Say
11. Rate the service according to your Criteria
Excellent Very Good
Good Poor
12. Have you heard of Religare Securities?
Yes No
If Yes then Specify?
Friends News Paper
T.V Other
13. How would rate the services provided by your broker?
Sl. No. Services Provided Excellent Good Average Can’t say
1. Core Services
2. Facilitators service

98. 3. Advisory services

99. Books & Journal:
 Philip Kotler & Kevin Keller, Marketing Management ; , Prentice-Hall
India, 2006 12th edition
 Ramaswamy, V.S., & Namakumari, S., Marketing Management: Planning,
Implementation & Control, Macmillan India, DaryaGanj, 2003.
 Marketing Research, Dacid j. luck Ronald S.Rubin Prentice Hall of India
Pvt. Ltd
 Websites:-
http://www.religaresecurities.com
http://www.nseindia.com
http://www.indiainfoline.com