Kajol Banking and insurance
-
Upload
aditya-vora -
Category
Documents
-
view
222 -
download
0
Transcript of Kajol Banking and insurance
-
8/13/2019 Kajol Banking and insurance
1/24
-
8/13/2019 Kajol Banking and insurance
2/24
Vishal Mhatre 69
Hanosh Panthak 74
Abhishek Patil 79
Imran Sayyed 88 Zain Merchant
Aditya Vora 106
Kajol Gupta 110
-
8/13/2019 Kajol Banking and insurance
3/24
-
8/13/2019 Kajol Banking and insurance
4/24
Introduction
A business model in which adistributor network is needed to buildthe business. Usually such businessesare also multilevel marketing in
nature in that payouts occur at morethan one level.
-
8/13/2019 Kajol Banking and insurance
5/24
Advantages
Low Start Up Costs
International Business
Tax
Freedom Support
Personal development
Training
-
8/13/2019 Kajol Banking and insurance
6/24
Disadvantages
The core of multi-level marketingis creating a long down chain.Close to 90% of the people fail to go beyond the first level and
wound up their business in first three months.
MLM requires great inter personal and communication skills andnot everyone is blessed with one which leads to business failure.
This form of marketing has a saturation point beyond which the rateof business growth is marginal. It is impossible for everyone to get alions share of profit.
Niche products and services are usually promoted through multi-
level marketing which fails to attract buyers often. In multi-level marketing you need to have a wide social network to
create a down chain. Most people start with huge enthusiasm butthe list of rejection
-
8/13/2019 Kajol Banking and insurance
7/24
Amway
-
8/13/2019 Kajol Banking and insurance
8/24
Jay van andel Richard de vos
Jay Van Andel Born June 3,1924 (age 89)Grand Rapids, MI, USA DiedDecember 7, 2004 (aged 80)
Nationality United StatesKnown for Amway founderReligion Christian ReformedChurch Spouse(s) Betty Van
Andel
Richard DeVos, Sr. BornMarch 4, 1926 (age 87)Grand Rapids, MI, USANationality United StatesEthnicity Dutch. Known for
Amway founder, owner ofNBA's Orlando Magic
Co founder
-
8/13/2019 Kajol Banking and insurance
9/24
Introduction
Amway(short for American Way) is an Americanmultinational direct-selling company using multi-levelmarketing techniques, that sells a variety of products,primarily in the health, beauty, and home caremarkets.Amway was founded in 1959 by Jay Van Andel and
Richard DeVos. Based in Ada, Michigan, the company andfamily of companies under Alticor reported sales of USD$11.3billion for the year ended December 31, 2012 -the seventhconsecutive year of growth for the company.Its product linesinclude home care products, personal care products, jewelry,electronics, Nutrilite dietary supplements, water purifiers, air
purifiers, insurance and cosmetics. Amway conducts businessthrough a number of affiliated companies in more than ahundred countries and territories around the world.Amway
was ranked No.114
-
8/13/2019 Kajol Banking and insurance
10/24
History
Jay Van Andel and Richard DeVos, friends since schooldays, had been business partners in various endeavorsincluding a hamburger stand, air charter service, and asailing business. In 1949 they were introduced by Neil
Maaskant (Van Andel's second cousin) to theNutriliteProductsCorporation After seeing promotionalfilmstrips and listening to talks by companyrepresentatives and successful distributors, they decidedto pursue the Nutrilite business opportunity with
enthusiasm. They sold their second box of supplementson their return trip to Michigan, and rapidly proceededto develop their new business further.
-
8/13/2019 Kajol Banking and insurance
11/24
Network marketing is also called as multilevelmarketing pioneered by Amway.
The network marketing sales system consist ofrecruiting independent business people who act as
distributors. Each distributor picks up the product worth a
certain sum and sell them.
Multi-marketing is a type of direct selling.
The original distributor earns commission first ofhis/her own effort and from the sales affected bythe sub-agents
-
8/13/2019 Kajol Banking and insurance
12/24
-
8/13/2019 Kajol Banking and insurance
13/24
-
8/13/2019 Kajol Banking and insurance
14/24
-
8/13/2019 Kajol Banking and insurance
15/24
The Amway Independent Business Owner
Compensation Plan enables you to earn income
based on merchandising an array of high-quality
products and services. (Selling and using the products
is one segment of building a balanced and successful
business, which also includes sponsoring others into
the business.)
Independent business Owner
-
8/13/2019 Kajol Banking and insurance
16/24
-
8/13/2019 Kajol Banking and insurance
17/24
Market Penetration
Going for market penetration has involved Amway inmaking the most of current products andcompetences by 'stretching' them to improve
Amway's competitive position within existingmarkets.
-
8/13/2019 Kajol Banking and insurance
18/24
Product Development
Product development is a particularlyappropriate strategy where an organisation isstrong in research and development. Product
development is highly important for productsthat have comparatively short life-cycles.
-
8/13/2019 Kajol Banking and insurance
19/24
Market development
Market development involves taking existingproducts into completely new markets. One methodused by Amway involves expanding the ways in
which individuals can be involved with the Amwaybusiness.
-
8/13/2019 Kajol Banking and insurance
20/24
Amway has developed a structure known as the IMCmodel. This increases the number of ways through
which people can become involved in the Amwaybusiness.
Each of the letters IMC stands for a different type ofinvolvement.
I - Independent Business Owners (IBOs)
M - Members C - Clients (customers) of the IBOs.
-
8/13/2019 Kajol Banking and insurance
21/24
Diversification
Ansoff pointed out that a diversification strategystands apart from the other three strategies. The firstthree strategies are usually pursued with the sametechnical, financial, and merchandising resourcesused for the original product line.
-
8/13/2019 Kajol Banking and insurance
22/24
Conclusion
In today's highly competitive environment, anorganisation has to develop a business strategy thatprovides a strategic fit between its resources and thechanging business.
-
8/13/2019 Kajol Banking and insurance
23/24
Analysis
It is a multi level marketing
It relies primarily from person-to-person rather thanadvertisement for sale of product
Its present in indian market since 11 years Higher class consumer is the company core
-
8/13/2019 Kajol Banking and insurance
24/24