 Presented By – Prashant Rajesh Kotwal
 Roll No – 3307
 July - 2015
1

2
 Issues and Challenges in Rural Marketing
 Benefits of Social Media
 Role Of IT in Retail Sector
 Record Management
 Know Your Customer (KYC) & Anti
Money Laundering(AML)

Rural marketing involves the process of developing, pricing, promoting,
distributing rural specific product and a service leading to exchange
between rural and urban market which satisfies consumer demand and
also achieves organizational objectives.
3
It is a two-way marketing process wherein the transactions can be:
1. Urban to Rural: It involves the selling of products and services by urban marketers
in rural areas. These include: Pesticides, FMCG Products, Consumer durables, etc.
2. Rural to Urban: Here, a rural producer (involved in agriculture) sells his produce in
urban market. This may not be direct. There generally are middlemen,
agencies, government co-operatives, etc who sell fruits, vegetables, grains, pulses
and others.
3. Rural to rural: These include selling of agricultural tools, cattle, carts and others to
another village in its proximity.
Issues and Challenges in Rural Marketing

 Large, Diverse and Scattered Market: Rural market in India is large, and scattered into a number
of regions. There may be less number of shops available to market products.
 Major Income of Rural consumers is from Agriculture: Rural Prosperity is tied with agriculture
prosperity. In the event of a crop failure, the income of the rural masses is directly affected.
 Standard of Living and rising disposable income of the rural customers: It is known that
majority of the rural population lives below poverty line and has low literacy rate, low per
capital income, societal backwardness, low savings, etc. But the new tax structure, good
monsoon, government regulation on pricing has created disposable incomes. Today the rural
customer spends money to get value and is aware of the happening around him.
 Rising literacy levels: It is documented that approximately 45% of rural Indians are literate.
Hence awareness has increases and the farmers are well-informed about the world around them.
They are also educating themselves on the new technology around them and aspiring for a
better lifestyle.
 Infrastructure Facilities: The infrastructure facilities like cemented roads, warehouses,
communication system, and financial facilities are inadequate in rural areas. Hence physical
distribution is a challenge to marketers who have found innovative ways to market their
products. 4

There are several roadblocks that make it difficult to progress in the rural market.
Marketers encounter a number of problems like dealing with physical distribution,
logistics, proper and effective deployment of sales force and effective marketing
communication when they enter rural markets. The major problems are listed below:
Standard of living
Low literacy levels
Low per capita income
Transportation and warehousing
Ineffective distribution channels
Many languages and diversity in culture
Lack of communication system
Spurious brands
Seasonal demand
Dispersed markets
5

Marketing StrategyMarketing Strategy: Marketers need to understand the psychology of the rural consumers and then
act consequently. Rural marketing involves more exhaustive personal selling efforts compared to
urban marketing. This can be done by utilizing the various rural folk media to reach them in their
own language and in large numbers so that the brand can be associated with the myriad rituals,
celebrations, festivals, mela’s, and other activities where they assemble.
Distribution StrategyDistribution Strategy: According to the Indian Market Research Bureau, around 8000 melas are
held in rural India every year. Rural markets have the practice of fixing specific days in a week as
Market Days called "Haats' when exchange of goods and services are carried out. Annual "melas"
organized are quite popular and provide a very good platform for distribution because people visit
them to make several purchases This is another potential low cost distribution channel available to
the marketers. Also, every region consisting of several villages is generally served by one satellite
town termed as "Mandis" where people prefer to go to buy their durable commodities. If marketing
managers use these feeder towns, they will easily be able to cover a large section of the rural
population.
Promotional Strategy:Promotional Strategy: Marketers must be very careful while choosing the mediums to be used for
communication. Only 16% of the rural population has access to a vernacular newspaper. So, the
audio visuals must be planned to convey a right message to the rural folk. The rich, traditional media
forms like folk dances, puppet shows, etc., with which the rural consumers are familiar and
comfortable, can be used for high impact product campaigns. Radio is also very popular source of
information and Entertainment, Adds on radio can also be a helpful tool for marketers.
6

Thus, looking at the challenges and the opportunities, which rural markets
offer to the marketers and the manufacturers, it can be said that the future is
very promising for those who can understand the dynamics of rural markets
and make use of them to their best advantage. A radical change in attitudes
of marketers towards the cheerful and budding rural markets is called for, so
they can successfully impress on the 750 million rural consumers spread over
approximately six hundred thousand villages in rural India
7

WHAT IS SOCIAL MEDIA MARKETING?
Benefits of Social Media

Essential Elements
Identify Business Goals
Set Marketing Objectives
Identify Ideal Customers
Research Competition
Choose Channels and Tactics
Create a Content Strategy
Allocate Budget and Resources
Assign Roles

Social media is now increasingly becoming an ingrained aspect of political
campaigns, national defense strategies, public policy, public relations, brand
management and even intra company communication. Since the major task of
marketing as tool used to inform consumers about the company’s products, who they
are and what they offer, social marketing plays an important role in marketing.
• Social media can be used to provide an identity about the companies and the
products or services that they offer.
• Social media helps in creating relationships with people who might not otherwise
know about the products or service or what the companies represent.
• Social media makes companies "real" to consumers. If they want people to follow
them they need not just talk about the latest product news, but share their personality
with them.
• Social media can be used to associate themselves with their peers that may be
serving the same target market.
• Social media can be used to communicate and provide the interaction that consumers
look for.
10

The role of social media in marketing is to use it as a communication tool that makes the
companies accessible to those interested in their product and makes them visible to those that
don't know their product. It should be used as a tool that creates a personality behind their brand
and creates relationships that they otherwise may never gain. This creates not only repeat-
buyers, but customer loyalty. Fact is social media is so diversified that it can be used in
whatever way best suits the interest and the needs of the business.
A majority of marketers 66% are using social media for 6 hours or more each week, and nearly
10 % of respondents stated they were spending 16 to 20 hours on social media marketing per
week.. Twitter, Facebook, LinkedIn and blogs were the top four social media tools used by
marketers, in order. A significant 81% of marketers plan on increasing their use of blogs. A
majority of the marketers are employing social media for marketing purposes and small
businesses were slightly more likely to use social media. 76% of marketers are spending at least
4 hours each week on their social media marketing efforts
11

NumbersofUsersinMillio

Amount of time spent by marketers on social media marketing per week from
2012-2015

 Many businesses historically succeeded without a need for social media or heavy
advertising. Today, the number of companies that will be able to sustain success
without online marketing is declining at the speed with which the online
landscape is changing
 Social media equals word of mouth. Social media is where they consume news,
entertainment, information about products, trends and businesses, and of course,
the opinions of their friends and acquaintances.
 According to Pew Research, in 2014, half of all adult Facebook users had more
than 200 friends on the site. While younger users tend to have the largest friend
networks, those users won’t stay young forever and someday will become a
prospective customer for you or your competitor.
 In short, social media is imperative for businesses that want to grow, scale and
sustain themselves in the economy of tomorrow. If the general public is going to
be talking about you anyway, wouldn’t it be better to be there, engaging and
capitalizing, than ignoring it?

• You are a brand ambassador.
• In your social media channels:
– Reinforce core values
– Stay on topic
– Be transparent and honest, but don’t violate organization’s trust
– Share your expertise
– Defer to colleagues when appropriate
• Test things for yourself! There is a lot of information and research out there about the best
time of day to post, the perfect type of content, how to get the most engagement, and the list
goes on.
• We’ve seen success using those data, and we’ve also seen success when we go rogue. Only
through trial and error can you determine the most effective way for your business to utilize
social media for marketing. You won’t know if you never try!

Information Technology is the key enabler to improving customer satisfaction,
operational efficiencies and by extension, profitability. Technology has been the great
enabler of business and especially retail enterprise. We are now wireless and seamless
and cashless and everything less and can get any information we want and need.
Retailers need to transform their IT capabilities for a number of reasons.
To aggregate and analyze customer data to enhance differentiation.
To increase a company's ability to respond to a rapidly changing marketplace through
enhanced flexibility and speed
To operate effectively, retailers need to have one system working across stores
(sometimes across national borders) to ensure the most effective use of stock and to
support optimized business processes.
16

Information technologies can be used by the organization in variety of innovative ways. They have
become tools to meet corporate objectives of effectiveness and efficiency.
Forecasting: Forecasting is the process of estimation in unknown situations. It's an essential and very
important process in any business organization. Modern demand-forecasting systems provide new
opportunities to improve retail performance. Although the art of the individual merchant may never
be replaced, it can be augmented by an efficient, objective and scientific approach to forecasting
demand.
Inventory Management: Inventory can be either raw materials, finished items already available for
sale, or goods in the process of being manufactured. Inventory is recorded as an asset on a company's
balance sheet. An IT solution is a proven and market leading solution for determining optimal time-
varying inventory targets for every item, at every location throughout supply chain. This allows
retailers you to significantly reduce inventory without adversely affecting service levels.
Store Management: Another example where Information technology can be beneficial is a store
management system that alerts out-of-place or stock-out items. A store is commonly a shop or stall
for the retail sale of commodities, but also a place where wholesale supplies are kept, exhibited, or
sold. A place where something is deposited for safekeeping is called store. An in-store system uses
magnetic strips or barcodes or RFID to monitor actual versus intended product location on the floor
or in the stockroom 17

Creative adoption of technology is spearheading this change. Innovative examples of
this change are:
• Store Inventory & Warehouse Management
• Time & Attendance Tracker
• Real Time Stock Locator
• Auto Replenishment & Store Orders
•Store Operations Reporting
•Retail Shrink and Loss Prevention
•Personnel Management solutions
•Time and Attendance, Computer- Based Training
•Store Inventory Management
•Stock locator, Direct Store Delivery, Auto Replenishment
•Store Warehouse Management
•Store Receiving, Real Time Inventory Adjustment
18

Radio Frequency Identification (RFID)
Radio Frequency Identification in the retail industry has solved major problems related to
customer services. With the help of RFID it becomes easy for the sales staff to locate a
particular item in the store and check its availability in less time.
Smart Operating System
Smart Ops customers are proactively managing supply chain uncertainty across all stages to
improve their total chain inventory planning, so that their customer service levels can be
stabilized and even increased while overall costs to the business are minimized. Smart Ops
enterprise software solutions support many initiatives and challenges associated with different
manufacturing and distribution industries from Lean Manufacturing, Just-In-Time (JIT), and
Six Sigma initiatives, to postponement strategies, to Collaborative Planning, Forecasting, and
Replenishment (CPFR), and Sales & Operations Planning (S&OP) activities.
Point of Sale
Capturing data at the time and place of sale is now done with the help of Point of sale systems.
Point of sale systems use computers or specialized terminals that are combined with cash
registers, bar code readers, optical scanners and magnetic stripe readers for accurately and
instantly capturing the transaction.
19

The business performance of the organizations and the success lies in how well the
organization manage their information system and how well it contributes to the
customer satisfaction. It is so vital for the retail as the customer involvement in the
service delivery process is high. IT systems are at the heart of retail operations and
hence play a central role in alleviating pressure points in the retail sector. The
converse also holds true — retailers who do not manage their IT landscape effectively
will find that, in time, the IT systems become part of the problem rather than
components of the solution.
20

What Is a Record?
RECORD : information captured in reproducible form
required for conducting any transaction or activity.
What Is a Record Management?
RECORDS MANAGEMENT: a logical and practical
approach to the creation, maintenance, use and disposition of
records.
21

 Records Creations : recording of information on paper,
print, tape or any transmitting medium
 Records Maintenance: producing the records when needed
 Records Disposition: determining the ultimate fate of the
records
22

Record Creation
Correspondence Management
Reports Control
Form Analysis and Design
Directives Management
Records Management
Adoption of a files plan
Choice of equipment/supplies
Mail management
Files management
Records Disposition
Inventorying
Appraising
Scheduling
Retiring 23

24

The ultimate test of a good records management is whether the records
are available to those who need them, when and where they are needed
(effectiveness), the manner in which they are made available
(efficiency), and at what cost (economy).
25

Know: What you should know?
True Identity and beneficial ownership of the accounts.
Permanent address, registered & administrative address.
Your: Who should know?
Branch Manager, audit officer, monitoring officials , PO.
Customer: Who is customer?
One who maintains an account, establishes business relationship, on
who’s behalf account is maintained, beneficiary of accounts
maintained by intermediaries and one who carries potential risk
through one of transaction.
26

It’s a process of making dirty money clean.
Money is moved around the financial system again and
again in such a manner that its origin is hidden.
Money generated from illegitimate source is converted into
that derived from legitimate source.
27

 Board and Management oversight of AML risks.
 Appointment a senior executive as principal officer with adequate authority and
resources at his command.
 Systems and controls to identify, assess and manage the money laundering risks.
 Make a report to the Board on the operation and effectiveness of systems and control.
 Appropriate documentation of risk management policies, their application and risk
profiles.
 Screening of employees before hiring and those who have access to sensitive
information.
 Quick and timely reporting of suspicious transactions.
28

29

 Mr. Abraham Alapatt
Chief Innovation Officer, Head Marketing & Customer
Service of Thomas Cook.
 Mr. Ramesh Chembath
AVP – Sales & Marketing, Godrej Appliances.
 Mr.Ninad Karpe
Aptech Ltd. Managing Director & CEO.
30

31

 At Thomas Cook (India) Limited, Abraham’s mandate as Chief Innovation
Officer, is to spearhead Thomas Cook Group’s forays into new businesses,
products and services that will help drive business growth in the near term and
build opportunities for the future.
 As Head of Marketing, he leads the Group’s brand building efforts, PR, Corporate
Communication and key trade relationships as well as supports and grows
individual lines of business in line with existing and emerging opportunities.
 As Head of Customer Service, he works closely with the Service Quality team
and business teams to ensure better pre, during and post travel experiences for
Thomas Cook's customers.
32

 Abraham Alapatt is a Marketing & Brand professional with 20 years of professional experience
at senior strategic levels across the varied domains of Brand building/advertising, corporate
communication, PR/media relations, internal communication, customer service & web-
technology.
 Abraham’s strengths are in the areas of innovation, marketing/brand strategy formulation,
implementation and management; integrated brand and corporate communication; advertising;
PR/media relations; market research, customer service and customer-centric marketing from
ideation to process engineering.
 Abraham is also a part-time writer/columnist and his articles, opinions and interviews feature in
various Brand & Marketing forums, portals and publications such as Campaign India, agency
faqs, exchange4media, mxmindia, Brand Equity, 4Ps etc. He was a speaker at the World Brand
Congress, Mumbai in 2010 and the Great Indian Marketing Summit in 2012. He has judged the
“Effies” in India for three years in a row as well as been on the jury for Pitch Magazine’s Golden
Mikes Radio Awards, Campaign India’s Digital Crest Awards 2013 and EEMA 2013 among
others.
 Abraham was also one of only eight “Futurist CMO” Hall of Fame inductees from across India
for 2011-12 and among the "50 Most Talented CMOs of India" recognized by the CMO Council
and World Brand Congress in October 2013. 33

Mr. Ramesh Chembath
AVP – Sales & Marketing,
Godrej Appliances
34

 Responsible for developing strategic marketing initiatives to drive topline &
bottom line for Rs 2300 Cr Godrej Appliance division.
 In addition, Mr. Ramesh Chembath also handle P&L responsibility for
Microwave Oven category and spearhead company's retail initiatives - both E
Com as well as setting up Exclusive Brand Stores.
 As head of Marketing he worked towards creating a brand that would stand for
high quality products, pioneering and relevant technologies and best in class
service .
 Under Mr. Chembath leadership Godrej came with an innovative approach in the
online media in the form of GoJiyo and has been quite an active brand in the
social medium.
35

 Mr. Ramesh Chembath have over 18 years of experience in brand management,
communication, product management, sales business P&L and currently heading strategic
role in one of the leading Consumer Durable company in India.
 Expertise: Marketing ,Brand management, Communication ,PR, Business strategy and
sales.
 As part of the Godrej fraternity, Mr. Chembath’s launched NXW, Godrej’s‘ premium
category of refrigerators.
 Chembath was helming a strategic role in one of India's leading consumer durable
companies
 India's 50 Most Talented CMOs.
 Recognized for Excellence in Marketing at ‘The Asian Brand & Leadership Summit 2013’
in Dubai
36

37

 Ninad Karpe is the Managing Director & CEO of Aptech Ltd. He was earlier Managing
Director, CA (formerly known as Computer Associates) for India & SAARC. He had
been associated with CA India since the company’s inception in the country.
 In his capacity as Managing Director of the Indian operations of the world’s fourth
largest software company, Ninad’s responsibilities included driving the adoption of CA’s
technology and broadening and strengthening strategic partnerships in India.
 He held numerous management responsibilities in that include setting up offices in India,
managing marketing, PR, technical services, HR, operations and finance.
 As MD & CEO his primary business, other than Assessment & Testing, is in Career
Education with six brands addressing the skill requirements in the IT, Animation &
Multimedia, Aviation and Hospitality domain.
38

 He was earlier Managing Director, CA (formerly known as Computer
Associates) for India & SAARC. He had been associated with CA India since the
company’s inception in the country.
 Mr. Karpe has been a Non-Independent Executive Director of Aptech Ltd. since
October 29, 2006.
 He says “Every testing requirement is an opportunity. However, reach,
infrastructure, connectivity and computer literacy can be some challenges.”
 He has also authored several books on strategy, taxation and foreign investment
in India and contributes regularly to newspapers, magazines and journals.
39

 4 WAYS TO INCREASE PRODUCTIVITY AT WORK
 HOW TO DEAL WITH MULTIPLE JOBS AT THE SAME EMPLOYER ON
YOUR RESUME
 AT 100 MILLION SUBSCRIBERS, HIKE AIMS TO DOUBLE SUBSCRIBER
BASE IN 2016
 MANAGERIAL ECONOMICS: TYPES OF UNEMPLOYMENT
 FINANCIAL TRANSACTIONS: 10 LEGAL MYTHS BUSTED
 MARKETING PLANNING – STRATEGIC PLANNING IN MARKETING
 MANAGEMENT ARTICLES: LEADERSHIP AND FOLLOWERSHIP
 DEMAND AND SUPPLY OF CAPITAL FOR INVESTMENTS
 INCOME TAX DEPARTMENT PROCESSES 3.27 CRORE RETURNS
DURING APRIL-DECEMBER
 BUSINESS FINANCE – DEFINITION OF BUDGET
40

At one point in time or another, we have all been in a position where we are sitting at
work and moving at the speed of a turtle. It seems as if nothing is getting done and
the projects keep falling farther and farther behind. If you don’t do something quick,
you are never going to be able to catch up with all of the work you need to do.
Instead of worrying about filling out job applications and looking for other work,
take control with one of the four productivity boosters below:
Take A Break
By taking a simple five minute break from it all and walking around, you can clear your head
and get the blood flowing.
Walk around outside and breathe in the fresh air, smell the outdoors and feel the sun on your
face.
You will be amazed at how something as simple as five minutes can transform your energy
levels.
Refreshed and revitalized, you are ready to start work once again.
41

Outline Your Priorities
Arrange all of the tasks in the order you hope to accomplish them.
If you are looking to save time, compile a to-do list the night before going in to work.
Continue to update the list periodically throughout the day as you complete things or new
projects come in.
Checking items off the list will provide you with a sense of accomplishment and let you know
that you are working toward a goal.
Consider The Long-Term
Take a moment and think about two big things that you want to accomplish over the next year
and post them onto your computer.
By doing so, you are going to frequently remind yourself about those goals and work hard to
achieve them.
Make sure the goals are something you can discuss in a performance review and use them as
leverage when asking for a raise.
Get To Work Early
As you are probably aware, an office that is empty and quiet will often mean fewer
distractions.
Arrive to work early before everyone begins flooding the workroom. Co-workers can be one of
the biggest distractions and place a damper on your productivity for the day.
Decreasing the number of people around you will help to increase your productivity.
42

Resume writing comes with many questions like what to include, how much to
include, and how far back to go when it comes to detailing work experience. It can get
particularly complicated when you’ve worked with the same employer and held
several positions with them.
To help ease the resume writing process in situations where you have held several
jobs with one employer, follow these tips:
1.Only list one period of employment with each employer.
The ATS ( Application Tracking System ) looks for a certain pattern of information to tell it where
one section of your work experience begins and where it ends.
It usually looks for dates on the resume to locate job titles and employers, so you should avoid listing
more than one period of employment with each employer if you don’t want to confuse the ATS
43

2. Highlight your promotions.
When you’ve been with an employer long, potential employers fear you may have fallen too
comfortable with them and your skills and progression for advancement has remained
stagnant.
To alleviate these negative perceptions, draw attention to any changes you’ve made in
positions held.
It can be a move you made to work in a different department or highlighting your successes
and promotions on the job.
3. Prioritize your information.
When you have several jobs under one employer grouped together on the resume, it’s
important to prioritize the information you have under it.
While describing your roles and responsibilities and highlighting achievements and success,
think about the order of importance and relevance.
You want to lead with what’s most impressive to the potential employer first.
Utilizing these tips, you’ll have a resume that demonstrates to potential employers that you’re
a candidate with great potential – you’re not only dedicated, but you can also perform and
achieve outstanding results.
44

 Hike Messenger is doubling down on its subscriber base in 2016, from the current
100 million that the messaging and calling app has achieved in three months after
crossing 70 million users in October 2015.
 “We're off to a great start in 2016”. Crossing 100 million users is a big milestone
for us and we have achieved this well ahead of our expectations," founder and
Chief Executive Kavin Bharti Mittal said in a statement.
 The app, which competes with WhatsApp, Facebook's Messenger, LINE and
WeChat, is looking to grow into a platform for content, media and services.
45

 The app is logging a monthly messaging volume of 40 billion messages, having doubled on
messaging in a span of five months, the company said. "Hike users aren't only messaging
and calling , they're also reading news on Hike in Hindi and English, viewing live cricket
scores, and are transferring huge files without Internet on Hike Direct," Mittal said.
 According to the company, users are spending more than 120 minutes per week on Hike.
 Launched in December 2012, Hike has a localized strategy for the country, and continues
to reach this young user base, the company said.
 The company said that 90% of Hike users are under the age of 30 and 90% of them are
based in India.
 Over the past year, Hike has brought on board leadership from brands such as PepsiCo,
Amazon, Unilever and Zynga.
46

Unemployment is of different types. The important types of unemployment are:
1. Structural unemployment:
This is a type of unemployment caused mainly by the change in the development strategy adopted by
an economy.
For example, suppose a country basically agricultural in nature, plans to adopt industrialization as a
strategy.
This will result in displacement of labor in agriculture and not all of them can be accommodated in
the industries.
This type of unemployment caused is called Structural unemployment.
2. Cyclical unemployment:
Every economy goes through the ups and downs in the process of development. This type of
economic fluctuations is studied through the behavior of business cycles. Hence, during the period of
inflation, the unemployment will be less and during the period of depression unemployment will be
more.
Such type of unemployment is caused mainly because of the deficiency of effective demand. Keynes
has discussed this type of unemployment in his theory.
Such unemployment is caused due to the economic fluctuations and every country will experience
this type of unemployment.
47

3. Frictional unemployment:
This is another type of unemployment which is caused by shift in the productive effort.
This type of unemployment is caused by industrial friction, such as, immobility of labor, ignorance
of job opportunities, shortage of raw materials and breakdown of machinery, etc.
 Jobs may exist, yet the workers may be unable to fill them either because they do not possess the
necessary skill, or because they are not aware of the existence of such jobs.
Therefore, the better the economy is doing, the lower this type of unemployment is likely to occur.
4. Seasonal unemployment:
This type of unemployment is very closely linked with the seasonality in production in any sector.
For example, in the agricultural sector, during the harvest season, there is heavy demand for labor.
All unemployed laborers will get work. But once the harvest season is over, these laborers remain
unemployed.
5. Educated unemployment:
This type of unemployment is found among the educated persons.
Though there are different levels of education, at any level, if a qualified person is unemployed, then
he adds to the number of educated unemployment
48

49
6. Under-employment or disguised unemployment:
This is the type of unemployment which is never practically seen, but only experienced.
Suppose a job which can be performed by just 10 worker, has in reality has 20 workers, then the
excess 10 workers who are not actually required are said to be under employed or disguised
unemployed.
In other words, the surplus labor do not make any addition to the output. Technically, their marginal
product is zero. Such a situation is called wider-employment or disguised unemployment.
7. Rural and urban unemployment:
Depending upon where there is unemployment, we may classify unemployment as rural and urban
unemployment.

1. Submit original documents in court
As per the Civil Procedure Code, 1908, when you file a petition in court, it needs to be accompanied with
affidavits and certified copies of the original documents that you want to present as evidence.
2. I can file a case anytime I want
Civil cases fall under the Limitation Act, which has laid down a time frame within which one must file the
case. If you don't do so, the case becomes 'timebarred' and the court does not admit the plea.
3. Gift ancestral property as I like
You cannot gift ancestral property that is jointly held by the HUF (Hindu Undivided Family), unless you
are the sole surviving member, according to a recent ruling by the Bombay High Court.
4. Letter of authority enough to delegate powers
It will not be accepted in complex transactions such as the sale of property or any other asset. For such
deals, you need a power of attorney.
5. Out-of-court settlement can't be challenged
You can always approach the court in the case of fraud or coercion. The court will do a review and may
revoke the settlement, if fraud or coercion is proved.
50

6. I'm not supposed to repay the loan if I am a guarantor
The Supreme Court has held that if the borrower fails to pay the dues, the bank has the right to recover it
from the guarantor.
7. My heir will inherit my shares
When it comes to shares in a demat account, it is the nominee in the account who inherits them, not the
person named in the Will, as per a Bombay High Court ruling.
8. I don't need to inform the insurer when I buy a used vehicle
When buying a used vehicle, get the insurance transferred in your name. If you don't do so, the insurance
company is not liable to reimburse your claim.
9. I can't move a consumer court without a lawyer
The Supreme Court has ruled that one doesn't need an advocate to move a consumer court. Non-lawyers
could be accredited to appear before the consumer forums as representatives on a regular basis.
10. An online will is sufficient to pass on property to heirs
You need to take out a print of the online will and sign it in the presence of two witnesses. The will must be
attested by these two witnesses.
51

Marketing planning is a plan involves designing activities relating to marketing objectives and attach
with the capability of changing marketing environment. It contains with the issues of product lines,
distribution channels, marketing communications and pricing.
Marketing planning process is a fundamental part of Marketing Audit. It is conducted not only at the
beginning of the process but also during and after the process completion. Marketing audit not only
consider its own plan but also considers internal and external factor that affects marketing planning.
Some important tools used by marketing audit are SWOT for internal and external environment
where as PEST and Five Forces Analysis which focus only on the external environment.
The following questions lie at the heart of any marketing (or indeed strategic) planning process:
1. Where are we now?
2. How did we get there?
3. Where are we heading?
4. Where would we like to be?
5. How do we get there?
6. Are we on course?
52

Steps of the strategic marketing planning process
 Mission
Corporate Objectives
Marketing Audit
SWOT Analysis
Marketing Assumptions
Marketing Objectives and Strategies
Forecasts of Expected Results
Create Alternative Plans
Marketing Budget
Detailed Action Plan
Why is marketing planning essential?
A marketing plan is useful to many people in a business. It can help to:
 Identify sources of competitive advantage
 Gain commitment to a strategy
 Get resources needed to invest in and build the business
 Inform stakeholders in the business
 Set objectives and strategies
 Measure performance 53

 All-important social accomplishment requires complex group effort and, therefore, leadership
and followership. Leader-follower relationship is two way, leader as well as followers have great
capacity to influence the relationship.
 Just as a leader is accountable for the actions and performance of followers, so followers are
accountable for their leaders. Followers support leaders when necessary and help them correct
their actions, just as leaders must support followers and help them to correct their actions.
 Organizations are successful or not partly on the basis of how well their leaders lead, but also in
great part on the basis of how well their followers follow.
 The leader has traditionally had the power to reward and promote, this has led to a relationship
in which the follower avoids jeopardizing their chances of obtaining these rewards. Hence, the
follower tends to do what the leader wants and, just as important, not offend or create a negative
impression of them.
 Leadership is one of the most widely talked about subject and is most elusive and puzzling.
Leadership is a complex phenomenon involving the leader, the followers, and the situation.
 People who are effective in the leader role have the vision to set goals and strategies, the
interpersonal skills to achieve consensus, the verbal capacity to communicate enthusiasm to
large and diverse groups of individuals, the organization talent to coordinate disparate efforts.
Some people posses inbuilt personality traits like self-determinant, honest, strong desire to
achieve goal, devotion and sacrifice
54

There are personalities, which are of ‘leader type’ (effective leaders), and there is not ‘leader
type’ (poor leaders).
Effective leaders are good communicators, especially in providing vision and purposes that
are consistent with follower goals, values, dreams and myths. Effective leaders are socio-
centric, physically strong, humanistic, approachable, visible, patient, decisive, and open-
minded. They maintain high standards of dignity and integrity. Effective leaders establish a
strong participative management culture. They are technically competent but possess
important interpersonal skills such as assertion, empathy and negotiation ability. Good leaders
show “value focused leadership.
Non-effective leaders fail to give clear direction, mission and purpose to the followers or
organization. They fail to create cohesion and commitment by neglecting to give support and
encouragement to followers. They neglect to energize followers and obtain their dedication
and loyalty by providing consistent reward and recognition. They fail to listen to followers
and empower them to take a full, participative role in all-important decisions. When followers
do offer suggestions these suggestions are ignored. Poor leaders tend to tolerate
incompetence, a fact that de-motivates followers who are trying hard to get work done. Poor
leaders fail to develop and support a “culture of quality.”
55

Demand for Capital
The demand schedule for capital refers to the arrangement of the various proposed projects in a
descending order according to their estimated rates of return together with required amounts of
capital needed by the respective projects.
Before analyzing the investments, the management must understand the nature of
opportunities. Some investments are complimentary i.e. making one investment implies that
another investment will be necessary.
An important element in the analysis of demand for capital is the productivity of proposed
capital outlay. The yield must be calculated in terms of individual projects. It is the expected
productivity of marginal unit of capital i.e. the key factor in the appraisal of allocating capital
funds and not the profitability of the old and sunk investment based on the estimates of the
historical costs.
The past is useful only as a guide to the future i.e. the future profit which is more relevant and
influences demand for capital; besides the capital yield should be calculated over the whole
lifetime of the asset. Undoubtedly all the future ventures of capital investment involve risks.
 According to W.W. Haynes “any investment decision is profitable if it adds more to revenue
than to cost or if it reduces cost more than the revenue.”
56

Supply of Capital
There are fundamentally two sources of supply of capital:
The internal sources of supply of capital are depreciation charges, and retained earnings. The
capital expenditure of many firms is confined purely to the amount that can be secured
internally. Therefore amount that can be expected from accumulated depreciation and from
retained earnings comprises the most significant part of capital budgeting. The retained
earnings as a source of supply of capital makes the plough back policy an integral part of
capital budgeting.
The external sources of capital are issue of shares and debentures and inter- firm borrowings.
The external sources which depend on issue of shares, debentures and inter firm borrowings are
very volatile and depend upon the overall atmosphere in the capital market, the company’s
reputation, its financial backing and the integrity of its management. Whenever the firm decides
to acquire external source of finance its project, it has to think many a times about the cost of
capital.
57

 Income Tax Department has processed 3.27 crore returns and has issued refunds
in 1.81 crore cases during April-December period of this fiscal.
 Centralized Processing Centre (CPC), Bengaluru has processed 3.27 crore returns
as of December 31, registering a growth of 18 per cent over 2.65 crore returns
processed during the corresponding period of the previous fiscal.
 "During the current financial year, the CPC has issued refunds in 1.81 crore cases
out of which in 1.32 crore cases, that is 73 per cent, the refunds were issued
within 30 days of filing by the taxpayers," an official statement said.
 The number of Tax payers in the income bracket of Rs 1 crore and below was
2.39 crore as of October 31 last year. For 2014-15 it was 3.66 crore; 3.73 crore in
2013-14 and 3.26 crore in 2012-13.
 The Department is committed to continuously improving the quality of tax payer
services and enhance taxpayer satisfaction, it added.
58

 Meanwhile, on January 11, CPC was awarded "ISO 9001:2008 Standard for
Quality Management System" Certificate by British Standards Institution (BSI).
 The Certificate encompasses all business services and business enabler services of
CPC, it said.
 ISO 9001 is an international standard that specifies requirements for quality
management system (QMS) addressing the principles and processes that surround
the design, development and delivery of services, it said.
 Organizations use this standard to demonstrate their ability to consistently provide
services that meet customer and regulatory requirements, it added.
59

 A budget is a detailed plan of operations for some specific future period. It is an
estimate of costs and benefits of programs to be undertaken and policies thereto
prepared in advance of the period to which it is applied. Budget acts as a
business barometer as it is a complete program of activities of the business for
the period covered.
 The Institute of Cost and Management Accountants, England, defines a budget
as ‘a financial and/or quantitative statement, prepared prior to a defined period
of time, of the policy to be pursued during that period for the purpose of
attaining a given objective’.
 According to Gordon and Shilling law, ‘budget is a predetermined detailed plan
of action developed and distributed as a guide to current operations and as a
partial basis for the subsequent evaluation of performance’.
60

Thus, the following are the essentials of a budget:
 It is prepared in advance and it is a plan of actions for the feature.
 It is related to a future period and is based on objectives to be attained.
 It is a statement expressed in monetary and/or physical units prepared for
the implementation of policy formulated by the management.
Different types of budgets are prepared by concerns for different purposes.
A sales budget is prepared for the purpose of forecasting sales for a future
period and on its basis other budgets are prepared. An operating cost budget
is prepared for forecasting the operating costs.
The Master Budget embodies plans – for the revenues and gains and other
incomes, for operating, marketing and other expenses, for cash and capital
requirements besides forecasting the profit or loss.
61

62