Presentation on theme: "Welcome to the Internship Presentation on “Multi-Level Marketing Strategy Of Modern Herbal Group”"— Presentation transcript:
Welcome to the Internship Presentation on “Multi-Level Marketing Strategy Of Modern Herbal Group”
The Internship Report has been submitted to … Mr. Masum Iqbal Assistant Professor Faculty of Business & Economics Daffodil International University Prepared by: Dawn Benedict Rozario ID: Faculty of Business & Economics Daffodil International University
Acknowledgement … It is my proud privilege to acknowledge a sincere and deepest sense of gratitude to my internship advisor, Assistant Professor & Head of BBA program Mr. Masum Iqbal. I would like to thank my respect and appreciation to Mr Shahjahan Mina, Mr Maruf Reza, Mr Mahabob Parvev, Ms. Fariha Tasnim, Ms. Nasrin Shah Naz and rest of the faculty members of Daffodil International University for their invaluable lessons throughout my BBA programs. I would also like to take this opportunity to thank Mr. Dr. Alamgir Moti (Managing Director), Mr. Nasirul Alam (Executive Director), Mr. Asher Bilal (Consultant, Modern Herbal Group), Mr. Mokhlesur Rahman Kabir (DGM), Mr. Rafiqul Hasan (Manager, HRD), Mrs. Momota Huda (Asst. Manager, Customer Services Department), Mr. Sameer Chandra (Manager, Sales), Mr. Mainuddin (BRD&E) and so many colleagues from MXN Modern Herbal Food Ltd. Everybody helped me with lot of information and discussing with patience although it is always busy at working hours.
Methodology … This report has been generated based on first three-month probationary period at MXN Modern Herbal Food Ltd. The information has been put together from secondary source, discussion, training sessions and dealing customers in real time for understanding my job responsibilities; which gradually helped me to generate this internship report.
Objective of the Report … To describe Multi-Level Marketing To differentiate between Traditional and Multi-Level Marketing Strategy To explain the MXN Marketing Plan of Modern Herbal Group To identify problems faced at Modern Herbal Group To make some recommendation to overcome the problems
The Definition … Multi-level marketing (MLM) … also known as Network Marketing is a business distribution model that allows a parent multi-level marketing company to market their products directly to consumers by means of relationship referral and direct selling. You Member
The Differentiation between … TMS Customers are segmented Freedom of advertisements Importance of service marketing Sales force management Sales target Marketing Budget Does not require training MLM No market segmentation More focus on recommendation No existence of sales force Restraining advertisements No service marketing strategy Requires training for customers Under-pricing by customers
The MXN Marketing Plan … (Every Tk.2.00 = 1 Point) Become a Crown Platinum Star Group (CPS) member by qualifying 5 down-line member as PS with 1 Crore Point Benefits - 40 % Group Bonus, Car & House incentive 3%, 2.5% Royalty (50000 QGPV mandatory) Become a Diamond Platinum Star Group (DPS) member by qualifying 3 down-line member as PS with QGPV Benefits - 40 % Group Bonus, Car & House incentive 3%, 2.5% Royalty (50000 QGPV mandatory) Become a Gold Platinum Star Group (GPS) member by qualifying 2 down-line member as PS with QGPV Benefits - 40 % Group Bonus, Car & House incentive 3%, 2.5% Royalty (50000 QGPV mandatory) Become a Bronze Platinum Star Group (BPS) member by qualifying a down-line member as PS with QGPV Benefits - 40 % Group Bonus, Car & House incentive 3%, 2.5% Royalty (50000 QGPV mandatory) Become a Platinum Star Group (PS) member by qualifying 12 down-line members as BS Benefits - 40 % Group Bonus, Car & House incentive 3%, 2.5% Royalty (50000 QGPV mandatory) Become a Diamond Star Group (DS) member by qualifying 7 down-line members as BS Benefits - 35 % Group Bonus, Car & House incentive 2.5%, 1.5% Royalty (25000 QGPV mandatory) Become a Gold Star Group (GS) member by qualifying 3 down-line members as BS Benefits - 30% Group Bonus, Car & House incentive 1%, 1% Royalty, Mobile incentive Tk (12000 QGPV mandatory) Become a Bronze Star Group (BS) member by submitting Points and 5000 QGPV (Qualified Group Point Value) Benefits - 25% Group Bonus, 1% Royalty 21% bonus by submitting P to P 18% bonus by submitting P to P 15% bonus by submitting P to P 12% bonus by submitting 5000 P to P Membership with Tk.400 and earn monthly 9% bonus by submitting 700 P to 4999 P
The 9 Benefits through Marketing Plan … Retail profitup to 30% Group Bonus9%-25% Star Group Bonus25%-40% Development Bonus20% Royalty6% Car & House Incentive6.5% Mobile IncentiveTk PS to PS Bonus4% Overseas IncentiveTk Stockist Bonus10%
Problems Identified … Maximum customers are unaware of marketing plan The product line has lacking of food products, mostly dominated by various medicine products. The term “Herbal” has a negative impression among people. There are few flaws in product - mostly relates to packaging, which does not get accepted by customers. MXN Modern Herbal Food Ltd has a time-consuming management system. A very high employee turn over ratio. Comparatively low salary structure Advertising limitation due to Drug Regulatory Policy. Lack of strong monitoring system for the Chittagong Branch, Comilla Branch, Barisal Branch, Bogra Branch.
Recommendations … Decentralized management system is very necessary. Management information system can enhance the efficiency. Operation management can improve if the branch offices are also reformed with proper monitoring system. Quality control process for product line can be refined. Develop some social awareness program with the product line. The sales would increase if customers had sound with company’s marketing plan. Management can emphasize on customer retention strategy through more service and product marketing.
Conclusion … Satisfying customers is one of the hardest jobs in any industry. The real time experience is far different from what is written in textbooks; though the textbooks are written from real life experience. As a current staff of MXN Modern Herbal Food Ltd. it has been a great learning curve. According to the conventional marketing curriculum around the country, hardly students get any proper knowledge about MLM. There are more things to learn always, and in MXN Modern Herbal Food Ltd. every single day there is a new lesson.