Marketing Research Amway India Ltd
I thank my research guide Mr..
Raman Kohl who helped me learn the meaning of true research and who brought me out of the paradigm and helped me to think. The knowledge gained from independent thinking is something we do not experience in our way of education. As a result of this research and interaction with my guide it seems that the real meaning of research is just beginning to show. A special Thanks to my Mother for her untiring support and inspiration throughout the working of this project without which I would not have been able to give my best towards this research.Last but not the least I would like to take this opportunity to acknowledge my rinds, family members and other faculty members for their motivation, teachings and guidance for making this project come to the present stage. EXECUTIVE SUMMARY Anyway is a unique company. It is defined by the fundamental philosophy of helping people help themselves.
Marketing Research Amway India Ltd Essay Example
Anyway has helped millions of people run their own independent business around the world. Today, Anyway continues to grow by offering new products and business opportunities to people from all cultures and walks of life.Whether they are employees, distributors, or citizens in the community, Anyway touches their lives for better. India with its ICC reservoir of will, talent and enterprise is perhaps the most fertile ground for the Anyway Corporation. In short it has made substantial value addition to Indian’s social economic life. The focus of this project is based on studying a single organization i. E The Anyway Corporation.
This research has been conducted to study the marketing strategy adopted by Anyway in the Indian market.An attempt has been made to study the company’s perspective in the new market and analyses on how the company plans its expansion in India. Have substantiated my research by conducting interviews to gain more insight about the corporation. The data has been analyses on the basis of 2 surveys which were conducted by me. Survey 1 was conducted through direct, phone and online interviews. Survey 2 is conducted by gathering information through structured questionnaire and the interpretation for the same has been provided. Eave finally concluded my research by providing a summarized conclusion and also suggested recommendations on the basis of the marketing mix.
Co intents Chapter 1: Introduction 1 Chapter 2: Anyway Profile 5 How it works? Product Profile Current Scenario Chapter 3: Anyways marketing strategies 25 Sales & Marketing Plan Strategies in the market Penetration Segmentation Chapter 4: Research Methods 37 Objectives Methodology Data Collection Sample Size Research Design Chapter 5: Findings & Analysis 45 Chapter 6: Conclusion & Recommendation 62 Annex 58 Bibliography 70 Sample Questionnaire 71 ANYWAY VISION “Helping people live better lives.In all aspects of our products, businesses and social responsibility, we strive to make a meaningful difference in the communities in which we operate. ” ANYWAY MISSION “Through the partnering of Distributors, Employees, and the Founding Families, and the support of quality products and service, we offer all people he opportunity to achieve their goals through the Anyway Sales and Marketing Plan. ” INTRODUCTION Direct Selling is a remarkable business model, which brings the market to the customer and offers a unique business opportunity to anyone eager to adopt the spirit of enterprise.Direct Selling can best be described as the selling of products and services directly to consumers in a face-to-face manner, through demonstration of usage, by an independent direct salesperson. Direct Selling benefits consumer because it sells high quality products at the consumer’s convenience, often at his/her home or workplace. Customers value the advantages of convenience, personalized attention, demonstration of usage, and a wide choice of products backed by Customer Satisfaction Guarantee.
One of the most tangible impacts of Direct Selling in its new advent has been the fact that it has touched the average man and women in a manner never experienced before. Anyway India Corporation is the country’s leading Direct Selling Company. It is perhaps the best example of the contribution Direct Selling is making to India. In a little over two years of commercial launch Anyway India has emerged as the country’s largest Direct Selling Company. It closed its financial year with a turnover close to RSI. 250 scores (the Anyway Financial year runs from Seep. To Gauge.
. It will reach its target of RSI. 1000 score turnover much before its declared target of the year 2004.. The direct selling industry has grown rapidly over recent years. Changing lifestyles, demographics and economic recession have all been factors influencing this growth. Anyway provides people with business opportunities across the globe.
Direct selling is not about ‘getting rich quick’ it is about creating rewards for effort and initiative. With low risk and low UAPITA investment, Anyway provides people with the opportunity to achieve and to improve their lives.As a leading player in the world of direct selling, Anyway is helping to ‘clean up’ the industry and provide a valuable and acceptable form of product distribution. In an impersonal fast-moving world driven by technology, Anyway provides the personal touch. Because it focuses upon direct selling, Anyway is different from more traditional distribution channels. Its Independent Business Owners own their own business, with the flexibility to deal directly with their own clients and to build up personal relationships.These Independent Business Owners also have the ability to deliver Mammy’s products to their customers’ homes.
Independent Business Owners sell to people they know or meet. The personal contact and care they provide is an important element in direct selling. They are also self-employed and can introduce others to the business to form their own sales group of Independent Business Owners. The channel of distribution describes the stages of ownership that take place as a product moves from a manufacturer to a consumer.The increasing use of the Internet by consumers has created a real potential for developing efferent types of business models and for new approaches to reaching users directly and quickly in their homes. This report examines in detail the marketing strategy of the leading global direct marketing major, Anyway in India. In the initial stages of the report I have focused on Mammy’s current position in the Indian market.
As the research progresses I have tried to analyses the companies marketing objective for India and how they set out to achieve them.This report also provides a brief introduction to the concept of multilevel marketing and tries to make the reader understand the difference twine multilevel marketing and the traditional distribution setup in the FMC sector, so as to give an idea as to how the system is being utilized by companies like Anyway. MI_M -a definition Multilevel marketing allows sellers to build a business through their own sales efforts and by inviting others to become sellers. Remuneration is based on a seller’s personal sales AND on the combined sales of those people they have sponsored, trained and motivated.The story of Anyway is intended to drive home the point of a company being alert enough to modify its globally accepted practices to suit the local markers needs. This report has been made keeping in mind the benefits which can be derived from my research. Benefits to customers This report will be beneficial for consumers who prefer the marketing goods or services directly to them: at their own convenience often in his/her home either on a one-to-one basis, or in the context of a sales party.
Through this the customers will get a better idea about the company’s product offerings and value the advantages of: convenience, personalized attention, and a good selection of quality products available at their door Steps. Benefits to sellers Many people have chosen direct selling because they want to build their own business, but do not have: considerable funds required to buy a franchise or start a new company. Among the top five reasons people sell direct because they like and believe in the product, like being their own boss, and working their own hours, like the supplemental family income or making extra money for themselves.It can be beneficial from the sellers point of view as it may give them the idea of exactly how they can go about creating their own business and benefit from the Anyways unique business opportunity. Benefits to companies In this report I have deeply analyses the marketing strategy for Anyway through personal interviews by many IBO’S and Anyway customers who have helped in adding valuable data to this project which can be useful for the company. The suggested recommendations can be considered by the corporation for further expansion and increasing market share.COMPANY HISTORY Anyway began in 1959 with two young entrepreneurs in the United States – Rich Devon and Jay Van Ended.
Their concept for an innovative business opportunity, centered around person-to-person marketing, established itself s a leader among one of today’s fastest-growing industries. Today, more than 3. 6 million independent business owners distribute Anyway products in more than 80 countries and territories. Anyway is part of the Ulterior family of companies whose global sales totaled $4. 5 billion in its most recent fiscal year. Sass – A Friendship Forms Rich Devon and Jay Van Anode’s friendship actually began with a business proposition, when Rich struck a deal with Jay for a ride to school for 25 cents a week. After high school they entered the military, but they planned to start a business together after separate tours of duty.
A friendship formed and became a business relationship that has lasted to this day. 1 sass – The Early years Anyway quickly outgrew its original facilities in the basements of Rich Devotes and Jay Van Anode’s homes. In its first full year of business, Mammy’s sales were more than half a million dollars. Sass – The Decade of Growth As vowed by Jay Van Ended the night of the 1969 disaster, Anyway rebuilt the aerosol plant and went on. The ‘ ass began with sales of more than $100 million at estimated retail, and kept going strong. After a lengthy investigation, the FTC verified that Anyway is a genuine business opportunity ND not a “pyramid. ” asses – The Billion-Dollar Decade The ; ass will be remembered for the first Billion Dollar Year at estimated retail in 1980.
Building expansion at Anyway World Headquarters continued at breakneck speed as Anyway scrambled to keep pace with demand, opening its new cosmetics plant in Dad. Sass – The Second Generation As carefully planned by Rich and Jay, the second generation Van Ended and Devon families took the helm during the ass. Steve Van Ended and Dick Devon succeeded their fathers as Chairman and President. Distributors witnessed a similar trend, with the second generation of many distributor implies taking on important leadership roles. Asses – The New Millennium In 2000, Anyway Corporation became a wholly-owned subsidiary of Ulterior, Inc. Chairman Steve Van Ended and President Doug Devon share the Office of the Chief Executive.ANYWAY is a world leader in Direct Selling.
A key element to this success is the recognition by governments that ANYWAY is a model marketing system. As with any venture, you should review all aspects, weigh the ad vantages ‘disadvantages, and decide whether it meets your needs. Here are some essential points to consider about the ANYWAY business opportunity: Start-Up Costs Compare the start-up costs of this opportunity with that of a conventional business, and you will notice quite a difference. The only cost for an ANYWAY Business is that of a Business Kit, which costs RSI. ,400. Merchandising The first way you can make money with your ANYWAY business is to sell products to retail customers. Successful merchandising is made easier by Mammy’s line of high quality products; a sound combination of upscale and consumable items that can mean profitable and repeat sales.
Sponsoring You may increase your merchandising efforts through sponsoring. Although it is not mandatory to sponsor people, sponsoring may increase your income when the Distributors you sponsor begin to build their own ANYWAY business.Business Support Materials As your business begins to grow, you may want to acquire training aids. You also may want to attend motivational and business-building meetings. These are optional. Deductions Your ANYWAY business is not a tax shelter, but you are entitled to deduct your ordinary and necessary business expenses as defined by the Income Tax Act, 1961. Time and Effort The bigger your financial goal, the more time and effort you will need to put into your ANYWAY business.
With an ANYWAY business, you work as much or as little as you like, depending on your own goals. It’s all up to you.They do exactly what their uplinks do. They talk like them, act like them, and follow them around everywhere as if they were kings and queens. Naturally, with this sort of following, Anyway distributors expect guidance in everything they do. This is the reason behind all of the tapes, books, and step-by-step instructions for building an Anyway business. Below are the 8 recommended steps for building a large nee;ark and the four steps to sponsoring new distributors.
These steps, taken from handouts given to me by my diamond directs, sure don’t make one think that the tapes, books, and other materials are optional!Take a gander! Eight Steps to Building a Large Network 1. 100% Personal Use 2. Establish 10 – 15 customers Priority Service Program 3. Books Read a book each month Read 10-15 pages each day 4. Tapes Listen to one tape a day (minimum) Be on “Recommended Tape” 5. Functions Attend all functions (see page 1 1) 6. Business counseling with active uplink Set goals with uplink on Goal Setting Card (F-7) 7.
Group Association Build quality relationships within the network 8. Show The Plan (STEP) Make a list Of names by using Anagrams, Christmas lists, telephone indexes, wedding invitations, etc. To jog your memory (don’t pre-judge).Add new names through daily contacts. Pass out 1 tape a day Show the Plan (SST P) three time a week Utilize the Issues and Answers video properly Personally sponsor 1-2 people each month Four Steps to Sponsoring 1 . Pass out prospecting tapes or approach directly and follow up within 24 hours. 2.
Set appointments 3. STEP 4. Follow up second look meeting And Who Is Bill Bruit? From the experiences of friends I spoke with in the USA, what is more likely to appear on the Anyway list of promises is promotional cassettes and books rather than more products. The promotional material is designed to help anAnyway distributor “sell, sell, sell. ” The basis for this activity is propounded by American, Bill Bruit. He and another American, Dexter Yeager, run two of the most successful ‘systems’ under the Anyway banner. It is said that about 90% Of Mammy’s products move through these two systems.
In India, what is being discussed is the Bill Bruit system. The Advocate newspaper in the LISA reported that to follow Barite’s system is to spend hundreds of dollars a year on motivational tapes. Anyway distributors are told that “spending money to buy these tapes is the key to building a large, successful Anyway business.Therefore, it is likely that new products peddled by Anyway distributors will not be more soap but more hope in the form of these motivational materials. One USA based distributor, an Indian (who has since left the business), told me that these tapes were meaningless and were sold to people by convincing them that weren’t doing well enough. He said that the tapes would become an item for sale and Anyway distributors will be selling them to each other in a self feeding frenzy. Anyway India – Product Catalogue ;Car Wash ;Dish Drop ;L.
O. C. ;Pursue ;SAA Delicate ;SAA Liquid ;See Spray