sj birla prjct
TRANSCRIPT
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STUDENT DECLARATION
I hereby, declare that this Report entitled, CORPORATE EXPOSURE TRAINING AT
BIRLA SUN LIFE MUTUAL FUND , submitted in partial fulfillment for the award of Post
Graduate Diploma in Management is a record of independent research work carried out by me,
under the guidance of . Mr. RAMESH KUMAR .N , New Horizon Leadership Institute,
Bangalore.
I also declare that this Corporate Exposure Training is a result of my own effort and has not been
submitted earlier for the award of any degree/diploma/associate ship/prize by New Horizon
Leadership Institute or any other University.
DATE: 30/07/2011
PLACE:
SWATI JAIN
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GUIDE CERTIFICATE
Certified that this Report entitled, CORPORATE EXPOSURE TRAINING AT BIRLA SUN
LIFE MUTUAL FUND, submitted in partial fulfillment for the award of Post Graduate
Diploma in Management is a record of independent research work carried out by SWATI
JAIN bearing Reg. Number 10KANHLIPGDMFT049 under my guidance and no part of this
Corporate Exposure Training has been previously submitted earlier for the award of any
degree/diploma/associates ship/prize by New Horizon Leadership Institute.
Place:
Date : 30/07/2011
Mr. Ramesh Kumar. N
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ACKNOWLEDGEMENT
I am grateful to BIRLA SUNLIFE MUTUAL FUND Management for all the best co-operationextended to me.I wish to acknowledge my indebtedness and gratitude to HR Department at BIRLA SUNLIFEMUTUAL FUND PLACE------, for granting me permission and also for the co-operation
provided to me in conducting a brief study on overall company structure.I am deeply indebted to my project guide Mr------------------ (HR) for their individual guidance.They spared their busy schedule to help me in successful completion of my project.With my sincere regards, I wish to acknowledge to my teacher and guide Mr.Ramesh Kumar.N , for helping me his time-to-time valuable suggestion whenever it was needed.I want to extend my humblest thanks to all those, who participated in the progress which hasfinally culminated in the completion of this project report.
Lastly, I would like to thank the almighty, my parents, teachers, friends, & family members,without their encouragement; this project would not have been its successful completion.
(SWATI JAIN)
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PREFACE
Progress is a continuous process. It is relative and absolute. We can not stop at a certaindestination and declare that target has been achieved and we need not go further.
Corporate Exposure Training are designed to give feel of the corporate happening and work culture. These real life situations are entirely different from the stimulated exercise enacted in anartificial environment inside the class the classroom and it is briskly because of this reason thatthe training programmes are designed so that the managers of tomorrow may not fill in casewhen the times come to shoulder responsibility.
It was exactly in this context that I was privileged to join (BSMF) as a summer trainee . It iswell known not only for professional, mgt. but also for its enlightened and progressive approachtowards employees welfare and betterment of the society.
The experience that I have gathered over the last six weeks has certainly provided withorientation which I believe will help me in assignment.
On the basis of my training program. I have tried my best to arrange the work in a systematic andchronological manner.
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TABLE OF CONTENTS
S. No PARTICULARS PAGENUMBER
Introduction on CET
Executive summary
SECTION-A INDUSTRY PROFILE
Introduction to Mutual Fund
History of Mutual Fund
Advantages & Drawbacks
SECTION-B COMPANY PROFILE
Introduction
V ision, Mission & V alues
Different schmes of BSLMF
SECTION-C ORGANISATIONAL CHART
SECTION-D SWOT ANALYSIS
SECTION-E FUNCTIONAL DEPARTMENT
HR
Production / Service
Inventory
Finance
SECTION-F FINDINGS
SECTION-G LEARNING EXPERIENCE
CONCLUSIONS
BIBLIOGRAPHY
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INDRODUCTION ON CET
CET popularly known as Corporate Exposure Training which is carried out in the beginning of the 4 th trimester for 6 weeks or 45 days. It is a plan of training where every students is expected
to study the complete functions of the organization as a whole as well as the different functionaldepartment by which the student is expected to learn the organization functions.
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CHAPTER 1
INDUSTRY PROFILE
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INTRODUCTION OF MUTUAL FUND
A Mutual fund is a trust that pools the savings of a number of investors who share a common
financial goal. The money thus collected is invested by the fund manager in different types of securities depending upon the objective of the scheme. These could range from shares to
debentures to money market instruments. The income earned through these investments and the
capital appreciation realized by the scheme is shared by its unit holders in proportion to the
number of units owned by the (pro rata). Thus a Mutual fund is the most suitable investment for
the common man as it offers an opportunity to invest in a diversified, professionally managed
portfolio at a relatively low cost. Anybody with an invest able surplus of as a few thousand
rupees can invest in Mutual Funds. Each Mutual Fund scheme has a defined investment
objective and strategy.
A mutual fund is the ideal investment vehicle for today's complex and modern financial
scenario. Markets for equity shares, bonds and other fixed income instruments, real estate,
derivatives and other assets have become mature and information driven. Price changes in these
assets are driven by global events occurring in faraway places. A typical individual is unlikely to
have the knowledge, skills, inclination and time to keep track of events, understand their
implications and act speedily. An individual also finds it difficult to keep track of ownership of
his assets, investments, brokerage dues and bank transactions etc.
A mutual fund is answer to all these situations. It appoints professionally qualified and
experienced staff that manages each of these functions on a full time basis. The large pool of
money collected in the fund allows it to hire such staff at a very low cost to each investor. In
effect, the mutual fund vehicle exploits economies of scale in all three areas research,
investments and transaction processing. While the concept of individuals coming together to
invest money collectively is not new, the mutual fund in its present form is a 20th century phenomenon. In fact, mutual fund gained popularity only after the Second World War. Globally,
there are thousands of firms offering tens of thousands of mutual funds with different investment
objectives. Today, mutual funds collectively manage almost as much as or more money as
compared to banks
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Mutual Funds now represent perhaps the most appropriate investment opportunity for most
investors. As financial markets become more sophisticated and complex, investors need a
financial intermediary who provides the required knowledge and professional expertise on
successful investing. As a result, in the birthplace of mutual funds - the U.S.A. - the fund
industry has overtaken the banking industry: more funds are under mutual fund management
than deposited with banks.
In India with more person getting interested to earn more from their saving to minimize the
effect of growing inflation mutual funds are becoming one the best way to achieve the required
solution. Despite the fact that mutual funds are still a new financial intermediary in India, they
have started opening up many exciting investment opportunities for the Indian investor.
A mutual fund is a professionally-managed firm of collective investments that pools money frommany investors and invests it in stocks, bonds, short-term money market instruments, and/or
other securities. In other words we can say that A Mutual Fund is a trust registered with the
Securities and Exchange Board of India (SEBI), which pools up the money from individual /
corporate investors and invests the same on behalf of the investors /unit holders, in equity shares,
Government securities, Bonds, Call money markets etc., and distributes the profits.
The value of each unit of the mutual fund, known as the net asset value (NA V ), is mostly
calculated daily based on the total value of the fund divided by the number of shares currently
issued and outstanding. The value of all the securities in the portfolio in calculated daily. From
this, all expenses are deducted and the resultant value divided by the number of units in the fund
is the funds NA V .
NAV = Total value of the fund
Number of shares currently issued and outstanding
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HISTORY OF MUTUAL FUND
The mutual fund industry in India started in 1963 with the formation of Unit Trust ofIndia, at the
initiative of the Government of India and Reserve Bank. The history ofmutual funds in India can
be broadly divided into four distinct phases: -
First Phase 1964-87
An Act of Parliament established Unit Trust of India (UTI) on 1963. It was set up by theReserve
Bank of India and functioned under the Regulatory and administrative controlof the Reserve
Bank of India. In 1978 UTI was de-linked from the RBI and the IndustrialDevelopment Bank of
India (IDBI) took over the regulatory and administrative control inplace of RBI. The first scheme
launched by UTI was Unit Scheme 1964. At the end of1988 UTI had Rs.6,700 crores of assets
under management.
Second Phase 1987-1993 (Entry of Public Sector Funds)
1987 marked the entry of non- UTI, public sector mutual funds set up by public sectorbanks and
Life Insurance Corporation of India (LIC) and General Insurance Corporationof India (GIC). SBI
Mutual Fund was the first non- UTI Mutual Fund established in June1987 followed by Can bank
Mutual Fund (Dec 87), Punjab National Bank Mutual FundAug 89), Indian Bank Mutual Fund
(Nov 89), Bank of India (Jun 90), Bank of BarodaMutual Fund (Oct 92). LIC established its
mutual fund in June 1989 while GIC had setup its mutual fund in December 1990.
At the end of 1993, the mutual fund industry had assets under management ofRs.47,004 crores.
Third Phase 1993-2003 (Entry of Private Sector Funds)
With the entry of private sector funds in 1993, a new era started in the Indian mutual
fund industry, giving the Indian investors a wider choice of fund families.
Also, 1993 was the year in which the first Mutual Fund Regulations came into being,under
which all mutual funds, except UTI were to be registered and governed. Theerstwhile Kothari
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Pioneer (now merged with Franklin Templeton) was the first private sector mutual fund
registered in July 1993.
Fourth Phase since February 2003
In February 2003, following the repeal of the Unit Trust of India Act 1963 UTI wasbifurcated
into two separate entities. One is the Specified Undertaking of the Unit Trustof India with assets
under management of Rs.29,835 crores as at the end of January2003, representing broadly, the
assets of US 64 scheme, assured return and certainother schemes. The Specified Undertaking of
Unit Trust of India, functioning under anadministrator and under the rules framed by
Government of India and does not comeunder the purview of the Mutual Fund Regulations.
The second is the UTI Mutual Fund Ltd, sponsored by SBI, PNB, BOB and LIC. It isregistered
with SEBI and functions under the Mutual Fund Regulations. With thebifurcation of the
erstwhile UTI which had in March 2000 more than Rs.76,000 crores ofassets under management
and with the setting up of a UTI Mutual Fund, conforming tothe SEBI Mutual Fund Regulations,
and with recent mergers taking place amongdifferent private sector funds, the mutual fund
industry has entered its current phase ofconsolidation and growth. As at the end of September,
2004, there were 29 funds, whichmanage assets of Rs.153108 crores under 421 schemes.
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ADVANTAGES OF MUTUAL FUND
Professional Management
The primary advantage of funds (at least theoretically) is the professional management of your
money. Investors purchase funds because they do not have the time or the expertise to manage
their own portfolios. A mutual fund is a relatively inexpensive way for a small investor to get a
full-time manager to make and monitor investments.
Diversification
By owning shares in a mutual fund instead of owning individual stocks or bonds, your risk is
spread out. The idea behind diversification is to invest in a large number of assets so that a loss
in any particular investment is minimized by gains in others. In other words, the more stocks and
bonds you own, the less any one of them can hurt you (think about Enron). Large mutual funds
typically own hundreds of different stocks in many different industries. It wouldn't be possible
for an investor to build this kind of a portfolio with a small amount of money.
Economies of scale
Because a mutual fund buys and sells large amounts of securities at a time, its transaction costs
are lower than what an individual would pay for securities transactions.
Liquidity
Just like an individual stock, a mutual fund allows you to request that your shares be converted
into cash at any time.
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DRAWBACKS OF MUTUAL FUNDS
No guarantee
No investment is risk free. If the entire stock market declines in value, the value of mutual fund
shares will go down as well, no matter how balanced the portfolio is. Investors encounter fewer
risks when they invest in mutual funds than when they buy and sell stocks on their own.However, anyone who invests through a mutual fund runs the risk of losing money.
Fees and commission
All funds charges administrative fees to cover their day to day expenses. Some funds also charge
sales commission or loads to compensate brokers, financial consultants or financial planners.
Even if you do not use a broker or other financial adviser, you will pay a sales commission if you
buy shares in a load fund.
Taxes
During a typical year, most actively managed mutual funds sell anywhere from 20 to 70 % of the
securities in their portfolios, if your fund makes a profit on its sales, you will pay taxes on the
income you receive, even if you reinvest the money you made.
Management risk
When you invest in a mutual fund, you depend on the fund manager to make the right decisionsregarding the funds portfolio. If the manager does not freeform as well as you had hoped, you
might not make as much money on your investment as you expected. Of course, if you invest in
Index funds, you forego management risk because these funds do not employ managers.
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TYPES OF MUTUAL FUND SCHEMES
By Structure
o Open - Ended Schemes
o Close - Ended Schemes
o Interval Schemes
By Investment ObjectiveGrowth Schemes
o Income Schemes
o Balanced Schemes
o Money Market Schemes
Other Schemes
o Tax Saving Schemes
o Special Schemes
Index Schemes
Sector Specfic Schemes 11
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PROCESS OF INVESTMENT IN MUTUAL FUNDS
Identify Your Investment Needs
Your financial goals will vary, based on your age, lifestyle, financial independence,
family commitments, and level of income and expenses among many other factors.
Therefore, the first step is to assess your needs. You can begin by defining your investment
objectives and needs, which could be regular income, buying a home or finance a wedding or
educate your children or a combination of all these needs, the quantum of risk you are
willing to take and your cash flow requirements.
Choose the Right Mutual Fund
The important thing is to choose the right mutual fund scheme, which suits your
requirements. The offer document of the scheme tells you its objectives and provides
supplementary details like the track record of other schemes managed by the same Fund
Manager.
Select the Ideal Mix of Schemes
Investing in just one Mutual Fund scheme may not meet all your investment needs.
Your may consider investing in a combination of schemes to achieve your specific goals.
Invest Regularly
The best approach is to invest a fixed amount at specific intervals, say every month.
By investing a fixed sum each month, you buy fewer units when the price is higher and more
units when the price is low, thus bringing down your average cost per unit. This is called
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rupee cost averaging and do investors all over the world follow a disciplined investment
strategy.
Start EarlyIt is desirable to start investing early and stick to a regular investment plan. If you
start now, you will make more than if you wait and invest later. The power of compounding
lets you earn income on income and your money multiplies at a compounded rate of return.
The Final StepAll your need to do now is to for online application forms of various mutual fund
schemes and start investing. You may reap the rewards in the years to come.
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Structure of mutual funds
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CHAPTER 2
COMPANY PROFILE
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BIRLA SUN LIFE MUTUAL FUND
INTRODUCTION
The Aditya Birla Group is one of India's largest business houses. Global in vision, rooted in
Indian values, the Group is driven by a performance ethic pegged on value creation for its
multiple stakeholders.
The Group's operations span 66 state of the art, straddling India, Thailand, Malaysia, Indonesia,
Egypt, Philippines, Canada, Australia and China.
A US $28 billion corporation with a market cap. Of US $31.5 billion and in the League of
Fortune 500, the Aditya Birla Group is anchored by an extraordinary force of 100,000
employees, belonging to 25 different nationalities. Over 50 per cent of its revenues flow from its
operations across the world.
The Aditya Birla Group is a dominant player in all its areas of operations viz; Aluminum,
Copper, Cement, V iscose Staple Fiber, Carbon Black, V iscose Filament Yarn, Fertilizers,Insulators, Sponge Iron, Chemicals, Branded Apparels, Insurance, Mutual Funds, Software and
Telecom. The Group has strategic joint ventures with global majors such as Sun Life (Canada),
AT&T (USA), the Tata Group and NGK Insulators (Japan), and has ventured into the BPO
sector with the acquisition of Trans Works, a leading ITES/BPO company.
Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverserange of wealth accumulation and protection products and services to individuals and corporate
customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key
markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the
Philippines, Japan, Indonesia, India, China and Bermuda.
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Since its inception in 1994, Birla Sun Life Mutual fund has emerged as one of India's leading
Mutual Funds managing assets of a large investor base. The fund offers a range of investment
options, which include diversified and sector specific equity schemes, fund of fund schemes,
hybrid and monthly income funds, a wide range of debt and treasury products and offshore
funds.
Birla Sun Life Asset Management Company Ltd. (BSLAMC), the investment managers of
Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and the Sun
Life Financial Services Inc. of Canada. The joint venture brings together the Aditya Birla
Group s experience in the Indian market and Sun Life s global experience.
No. of schemes 71
No. of schemes including options 218
Equity Schemes 63
Debt Schemes 106
Short term debt Schemes 17
Equity & Debt 10
Money Market 0
Gilt Fund 16
Corpus under management
Rs.49983.17 Crs. as on Feb 28, 2009
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Vision
To be the most trusted name in investment and wealth management, to be the preferred employer
in the industry and to be a catalyst for growth and excellence of the asset management business
in India.
Mission
Achieving superior and consistent investment results. Creating a conducive environment to hone and retain talent. Providing customer delight. Institutionalizing system-approach in all aspects of functioning. Upholding highest standards of ethical values at all times.
Values
Integrity Commitment Passion Seamlessness Speed
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Birla Sun Life Mutual Fund strengths its Kolkata operations
The Fund house has seen strong growth in Kolkata in the financial year 2008-09 Growing
business makes it relocate its branch.
The Birla Sun Life Mutual Fund (BSLMF) is relocating its Kolkata branch to - 1st floor,
New B.K.Market, 16 A Shakespeare Sarani, Opp- Nagaland House, Kolkata-700071.
The branchs contact number will be 033-6621 2000. This location has been selected keeping in
mind investors convenience, prominent location and a bigger space, which is imperative
considering the growth in the fund houses Kolkata business. The branch was earlier located at J
K Millineum Centre, 2nd Flr., 46/D, J L Nehru road.
Kolkata has been one of the leading markets for mutual fund industry in India as well as the
fourth largest market in terms of Assets Under Management (AUM) for BSLMF which has a
strong market share of over 10% here. In the financial year 2008-09, the Fund house has seen an
18 % growth in investor base in Kolkata and a 7 % growth in the AUM. What stands out though
has been the over 400 % rise in the number of SIPs, indicating the retail investor preference for
long term investing through BSLMF. Birla Sun Life Frontline Equity fund as well as Birla Sun
Life Tax Relief96 have been the favourite funds.
The fund house has won various awards and recognitions for its demonstrative fund
performance. It is the only fund house to have won the Mutual Fund House of The Year by
CNBC T V 18 Crisil twice in a row. BSLMF recently won the best India onshore fund house
by Asian Investor magazine. It has also won the Best Group Mixed Assets Category from
Lipper as well as the Debt Fund House OfThe Year from ICRA. On the scheme specific
recognition front it has won 3 CNBC T V 18 CRISIL, 3 Lipper and 6 ICRA awards for
individual scheme performance across equity and debt fund categories . BSLMF also had the
highest number of schemes with 4 and 5 star ratings from V alue .
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DIFFERENT SCHEMES OF BSLMF
EQUITY SCHEMES DEBT SCHEMES
Birla Sun Life Advantage Fund Birla Sun Life Short Term OpportunitiesFund
Birla Sun Life Dividend Yield Plus Birla Sun Life Dynamic Bond fund
Birla Sun Life Tax Plan Birla Sun Life Gilt Plus- liquid Plan
Birla Sun Life Index Fund Birla Sun Life Gilt Plus-PF Plan
Birla Sun Life India GenNect Fund Birla Sun Life Gilt Plus- Regular Plan
Birla Sun Life India Opportunities Fund Birla Sun Life Income Plus
Birla Sun Life Midcap Fund Birla Sun Life Govt. Securities(Long Term)
Birla Sun Life MNC Fund Birla Sun Life Govt. Securities(Short Term)
Birla Sun Life Basic Industries fundBirla Sun Life Income Fund- Half Yearly
Dividend
Birla Sun Life Buy India FundBirla Sun Life Income Fund- Quarterly
Dividend
Birla Sun Life Equity FundBirla Sun Life Liquid Plus-Institutional
Monthly Dividend
Birla Sun Life Frontline Equity FundBirla Sun Life Liquid Plus-Retail Monthly
Dividend
Birla Sun Life New Millennium fundBirla Sun Life Short Term Fund- Monthly
Dividend
Birla Sun Life Tax Relief96
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STRUCTURE OF BSLMF
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SWOT ANALYSIS
STRENGTHS
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WEAKNESSES
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OPPORTUNITIES
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THREATS
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CHAPTER 3
FUNCTIONAL DEPARTMENT
y HR Dpt.y Marketing Dpt.
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HR DEPARTMENT
Personnel management is the most important area of any business organization. The main aim of
personnel management is to manage the personnel at work. It is concern with employees both asindividual as well as group. The aim being to get better results with their collaboration and activity
involvement in the organization activity.
Personnel management means quite simply the task of dealing with human relationship within an
organization.
Personnel management is that phase of management which deals with the effective control and use
of manpower as distinguished from other sources of power
ORGANISATION STRUCTURE
Organization is a group of people working together co-operating under authority, towards
achieving benefit the participants and the organization. Every organization has goals and objectives.
In Birla Sun Life Mutual Fund, there is a separate personnel department for achievement of
goals. Personnel management is a most important part in an organization. All the functionsrelated with personnel department. Personnel manager has got higher status in the organization.
RECRUITMENT
Recruitment is the process of selection for prospective employees simulating them to
apply for job in the organization. In other words it is linking activity bearing to gather with jobs,
selection jobs. Recruitment makes it possible to acquire the number and type of people necessary
to ensure the continued operation of the organization.
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Recruitment is a process of searching for prospective employee and stimulating
encouraging them to apply for jobs in an organization.
There are two sources of requirement:
1. Internal Sourceso Promotiono Transfer
o Demotion
2. External Sourceso Advertisemento Employmento On Campus Requirement
o Employee Recommendation
In Birla Sun Life Mutual Fund they are using internal sources as well as external sources.
Their policy for external sources is such that first they give advertisement in the newspaper and
they have also contact with employment exchange through these source first of all collect
application, separated and then after appropriate candidates are called for the interview.
SELECTION
After creating if application of required number of employees secured through different
sources of recruitment the selection process begins. The main purpose of selection process of
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selection process is it find the right man for each job. The efficiency and profitability of the
concern depends mainly on proper selection of the personnel.
Company select employees through commercial made of three numbers. One is the work
manager, second is of manager and the third is the head department in which company exists.
HR POLICY OF BSLMF
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TRAINING & DEVELOPMENT
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STRUCTURE OF HR DEPARTMENT
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MARKETING DEPARTMENT
Marketing is a comprehensive term & it includes all resources & set of activities necessary to direct
& facilitate the flow of goods & services from producer to consumer in the process of distribution.
Marketing is the human activity directed at satisfying needs & wants through exchange process.
Marketing is the process of planning, pricing, distribution of goods, ideas; services create exchanges
that satisfy individual & organizational goals.
PRODUCT PLANNING
A product planning is a company plan for marketing its products. Product planning means
planning for the product that is to decide what type of products to be produced or what needs or
requirements the product should satisfy.
In Birla Sun Life Mutual Fund, product planning is done very carefully. They first contact
Advisors & ask, for the what type of product customers want means Debt based, Equity Based or
Low risk Product etc then they prepare few samples & give to Advisors. As per the suggestions
& Response of customers they prepare the new Schemes.
STRATEGIES RELATED PRODUCT
In developing a marketing strategy of individual products, the seller has to comfort manydecision. There are four elements related to the products. The brief study of these elements will
complete the concept. These four elements are:
1. Branding
2. Packing & labeling
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3. Promotion
4. After sales serviceFirst one is Brand. Branding is the art and corner stone of marketing. A brand identifies the seller
or marketing. It can a name, trademark, logo or other symbol under trademark law, the seller is
granted exclusive right to the use of brand name.
Second element is packing and labeling. Many marketers are of view that packing is a
fifth P along with price, product, place and promotion. Packing includes the activities of
designing and producing the container or wrapper for product while the label identifies the
product. Birla Sun Life Mutual Fund also gives much important to the packing and labeling.
Next is Promotion. Today promotion is one of the most important tools for stay in
competition. Birla give full attention on this segment because Mutual Fund Industry is totally
service based company and required high promotion to attract the investors.
BIRLA prepare and distribute its new schemes regularly with some exclusive paper advertisement. Because in this industry the past performance is only measure of performance of
company and it only show through paper Advertisement.
It also distributes Seasonal Gifts to their Advisor for promoting their product and
motivates them. Example: Give free Umbrella in Monsoon under Monsoon Dhamaka Schemes
to attract the advisor for promote BIRLAs products.
In this business the actual work of company start after sales of product i.e. After Sales Services.
After Sales Services include how company response to their Clint. BIRLA is known for their
After Sales Services.
y Birla send monthly valuation report of their Clint through currier.
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y Birla solved any Query within 48 hours.y Birla also continues suggest good schemes to their current Clint.y Birla give Statement of their (Clint) investment free of costs.
STRATEGY OF BSLMF
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STRUCTURE OF MARKETING DEPARTMENT
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FINANCE DEPARTMENT