Summer Internship Project

ON
BUSINESS DEVELOPMENT

Submitted in partial fulfillment of requirement of Bachelor Of

Commerce Honours (B.com Hons.)

B.Com (H), 5th Semester

Batch : 2020-2023

Submitted to: Submitted by:

DR. RUCHI SINGHAL MOHD FAIZAN AHMED
Associate Professor 03314188820

JAGANNATH INTERNATIONAL MANAGEMENT SCHOOL, KALKAJI

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 STUDENTS UNDERTAKING

I, the undersigned MOHD FAZIAN AHMED declare that the work embodied in this project work
hereby forms my own contribution to the research work carried out under the guidance of HARIS
BIN AKRAM is a result of my own research work and has not been previously submitted to any other
University for any other Degree/ Diploma to this or any other University.

Wherever reference has been made to previous works of others, it has been clearly indicated as
such and included in the bibliography.

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 ACKNOWLEDGEMENT

I am using the opportunity to express my gratitude to everyone who supported me throughout the
course of this Internship. I am thankful to their aspiring guidance, invaluable constructive criticism
and friendly advice during the Internship. I am sincerely grateful to them got sharing their truthful and
illuminating views on a number of issues related to the project.
I express my warm thanks to HARIS BIN AKRAM, Director and all the people for their support and
guidance at HIREAVEN. They provided me the with the facilities that were required for my internship.
I would also like to thank my mentor DR. RUCHI SINGHAL, Associate Professor, JIMS Kalkaji,
for helping me and guiding me during the Internship.

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 CONTENTS

S.NO TOPIC PAGE NO.

Executive Summary

1 5
2 Introduction To topic 6

3 Objectives 30

4 Literature review 32

5 Company Profile 36

6 Research Methodology 38

7 Analysis & Interpretation 44

8 Findings And Inferences 55

9 Limitations 57

10 Recommendations and Conclusions 59

12 Questionnaire 63

13 Bibliography 64

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 EXECUTIVE SUMMARY

My internship was with Hireaven is a campus recruitment consultancy. Hireaven is an online

consultancy that provides students to place in a good company.

Initially I joined Hireaven as a trainee and they briefed us about the working process of the company,
its history, growth and various services provided by them.
Along with this I made this research report on the topic “Business Development with respect to
Hireaven Limited”. This research is to find out that the customers using the online services to get
their book reviewed to increase their sales are satisfied by the services.
In this report I will target the existing users of Hireaven limited questionnaire to find out why they
chose their services and what techniques and approaches are the most effective in acquiring clients
and customers.

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 INTRODUCTION TO TOPIC

Business development entails tasks and processes to develop and implement growth opportunities
within and between organizations. It is a subset of the fields of business, commerce and
organizational theory. Business development is the creation of long-term value for an organization
from customers, markets, and relationships. Business development can be taken to mean any
activity by either a small or large organization, non-profit or for-profit enterprise which serves the
purpose of 'developing' the business in some way.

In addition, business development activities can be done internally or externally by a business

development consultant. External business development can be facilitated through Planning
Systems, which are put in place by governments to help small businesses. In addition, reputation
building has also proven to help facilitate business development.
In practice, the term business development and its actor, the business developer, have evolved into
many usages and applications. Today, the applications of business development and the business
developer or marketer tasks across industries and countries, cover everything from IT-programmers,
specialized engineers, advanced marketing or key account management activities, and sales and
relations development for current and prospective customers. For this reason, it has been difficult to
discern the unique features of the business development function and whether these activities are a
source of profits. Recent systematic research on the subject has outlined the contours of an
emerging business development function with a unique role in the innovation management process.
The business development function seems to be more matured in high-tech, and especially the
pharma and biotech industries. Business development professionals frequently have had earlier
experience in sales, financial services, investment banking or management consulting, and delivery;
although some find their route to this area by climbing the corporate ladder in functions such as
operations management. Skill sets and experience for business-development specialists usually
consist of a mixture of the following (depending on the business requirements):
• Sales
• Finance
• Marketing
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• Mergers and acquisitions
• Legal
• Strategic management
• Proposal management or capture management

Business development is to be thought of as a marketing tactic. The objectives include branding,

expansion in markets, new user acquisition, and awareness. However, the main function of business
development is to utilize partners in selling to the right customers. Creating opportunities for value
to be ongoing in the long term is important. To be successful in business development the
partnership must be built on strong relationships. The "pipeline" refers to the flow of potential clients
which a company has started developing. Business development staff assign to each potential client
in the pipeline a percent chance of success, with projected sales-volumes attached. Planners can
use the weighted average of all the potential clients in the pipeline to project staffing to manage the
new activity when finalized. Enterprises usually support pipelines with some kind of customer
relationship management tool or database, either web-based solution or an in-house system.
Sometimes business development specialists manage and analyze the data to produce sales
management information. Such management of information could include:

• Reasons for wins/losses

• Progress of opportunities in relation to the sales process
• Top performing salespeople/sales channels
• Sales of services/services

For larger and well-established companies, especially in technology-related industries, the term
"business development" often refers to setting up and managing strategic relationships and alliances
with other, third party companies. In these instances, the companies may leverage each other's
expertise, technologies or other intellectual property to expand their capacities for identifying,
researching, analyzing and bringing to market new businesses and new services. Business
development focuses on the implementation of the strategic business plan through equity financing,
acquisition/divestiture of technologies, services, and companies, plus the establishment of strategic
partnerships where appropriate. Facilitated development Business Development is affected by

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external factors. "Planning Systems" are systems set in place in order to regulate businesses. In
many cases, ruling agencies deem the necessary for business survival. There is a section of
Business that is dedicated to facilitating ethical business development in developing countries. In the
early 2000s, Business Ethics was dedicated to helping the Businesses in need that are in these
countries. However, owing to the strong backlash from critics, they have changed their focus into
helping businesses that are going to help the most people develop. These policies have improved
the quality of life of the people. However, this facilitation changes the norms and, in turn, harms some
groups. In order to enforce the new policies in an ethical manner Business Ethicists have created a
cost-benefit analysis, placing an emphasis on basic necessities. These concerns have become so
great that Business Ethicists have created a new department called Development Ethics. Now,
instead of simply helping developing businesses, international business developers have begun
ensuring that the companies keep basic human rights in mind. This especially applies to countries
where the laws are not so strict and allow for abuse to take place. These development policies now
have to follow the criteria that Penz created, consisting of: security, empowerment, rights, equity,
integrity, and cultural freedom. The idea of providing people with human rights in order to facilitate
business development can be seen through the rapid development of China in the last few decades.
The policies that were implemented in the last couple decades coincide with these developments. In
the 1980s, government policies facilitated the rise in literacy rate and education. The following
decade, healthcare coverage increased significantly. This development was not originally seen as
monetary capital, but instead, it was seen as human capital. With more workers able to bring skill
and maximum effort to their workplace, companies were able to develop extremely rapidly.

Reputation building With companies becoming more and more conscious of ethical practices, closely
watching their selves to avoid scrutiny, a company's reputation has become a great concern. Ethical
business practices are closely tied with reputation which makes it essential to follow ethical
guidelines if a company is looking to build their reputation. In fact, Businesses that develop quickly
and successfully have tendencies to show honesty, impartiality, and service to all of their
stakeholders. In order for a company to be considered "ethical", it must cater to the needs of the
customer, keeping their best interest in mind. This will influence customers to make repeated
purchases and lead to more profit. In order for a company to build a strong reputation with their
suppliers, it is crucial for them to focus on impartial business interactions and developing long

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relationships. These relationships can lead to mutually-beneficial business deals for both the
company and its supplier. With the employees, they must take their interests into consideration and
facilitate teamwork as opposed to rigorous competition. This ensures that the company will keep
their most loyal and dedicated employees for as long as possible. Funding for further development
can rise when a company is able to develop strong relationship with each stakeholder individually,
and ethically. This is based on the concept of reciprocation, which states how in order for social
change to take place between groups of people, trust must be built between them through mutually
beneficial actions. This can be supported through the results of a questionnaire study that was
conducted on technology industries in GTSM and TSE. In addition, in order for a company to practice
business ethics, and ensure strong business development, it is essential to maintain a positive
relationship with the environment. With concerns about the recent decline of the environment
increasing, stakeholders have become more involved in efforts to preserve resources and a negative
impact on the environment brings about risks of damaging stakeholder relationships.

CHARACTERSTICS OF BUSINESS DEVELOPMENT

Business development is distinctly different than sales. Top business development professionals
become a trusted advisor to clients. This is the key to a long-term and strategic relationship that adds
more value than sales alone. Companies have a higher expectation of business development. More
than ever, this workforce isn’t just your old run-of-the-mill tactical salesperson. Don’t get me wrong,
there is a place for both. But, to be a successful business developer, these individuals must possess
additional skills. Clients require these deeper relationships too. Business consumers have a lot of
options. And, it’s easier for them to go to your competitor than to do business with someone who
doesn't quite cut it. Great business development professional are responsible for the livelihood of
the business. For a business to remain competitive, they not only need to bring a client to the table
once, but are tasked with providing enough ongoing value that clients stay for the long haul.

This is the modern conundrum of business development today. In 20 years serving the market
research and consulting communities, I have learned that to be successful I must continually expand

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my skills. I have found that success in business development can be traced to eight attributes and
behaviors:

1. Customer Obsession You understand your client's business and services and services. Taking
that a step further, you must know their internal strategic initiatives and plans. Until you understand
this, and can tailor your solution to map to support them in these, you will never build a strategic,
long-term relationship. No longer are the days of having your product be one to many. If you do this,
your offering will be one of many tactical services that they could take or leave.

2. Emotionally Intelligent To build a long-term relationship with key client executives, you must
possess a high level of emotional intelligence. What this means is understand cues outside of what
is written and spoken that are big indicators of creating a successful business relationship.
Understand what motivates your client, about people's egos and their underlying expectations as
well as how these provide big clues into to how your client will buy. When you can piece this together
and apply this to the overall business landscape, you can build a relationship that will keep a client
for life.

3. Digitally relevant So much of business today is done digitally. Your personal and company's online
business presence, social profiles and networks are crucial in business success. Research is
conducted, due diligence is collected; your company’s reputation is compared to your competition's.
Potential clients aren't just looking at the company that you represent; they count on you being
digitally savvy. They need to have communication about your services and services easily delivered
to them digitally and in real time. They can reach you when it's convenient for them through this open
channel.
4. Domain Expertise A true business development professional builds deep knowledge of the
industry that they serve. This industry and solution expertise allows you to be part of the solution,
not just a purveyor of it. This unique and inherit knowledge makes you valuable to the client.

5. Trust Maintain honesty and integrity with the client no matter what the circumstances. Make sure
they understand that they know that they can count on you to be honest. You are your client's

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advocate, inside your company and out. Don't ever give your client a reason to doubt anything that
you say or do.

6. Commitment Believing in the company and solution, you represent. And, no matter what, you
always have the best interests of your client at hand. You don't give up, and you fight for them when
needed. The overall commitment in the relationship builds customers for life.

7. Optimism You have a positive outlook about business and life in general. Nobody likes to do
business with someone who is negative and a bummer to be around.

8. Perseverance When the chips are down, you stick with the relationship. Everyone can push
forward in good times and when all is going perfectly as planned. But when it doesn’t go perfectly,
you're ready to attack problems head on. Business isn't always easy, but you're known for being
there through thick and thin.

THE IMPORTANCE OF BUSINESS DEVELOPMENT

When it comes to organizational growth, business development acts as the thread that ties together
all of a company's functions or departments, helping a business expand and improve its sales,
revenues, product offerings, talent, customer service and brand awareness. There are a number of
key areas in which someone tasked with business development can help effect change and promote
growth across departments. Here are four reasons why business development is important.

It builds important relationships.

Whether cultivating new talent, networking with prospective partners or courting potential customers,
relationship-building is an integral piece of the business development process. A savvy business
developer can hone in on the relationships that demand the most attention. Connecting with clients,
colleagues and other members of one's network can be fundamental to identifying new business

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opportunities, generating leads and making critical hires. And, strengthening existing relationships
will help deliver repeat customers, or provide an opportunity to hone and enhance talent from within.

It's a key strategy for boosting revenue and lowering costs.

Growth is the end game of business development, and one of the most common metrics for
measuring that growth is the bottom line. Key to the business development process is devising
strategies to help increase the amount of money that's coming into an organization, while making
sure less money is going out. Focusing on business development can help an organization identify
which markets and services have the most profit potential, and which deals to chase first. Business
development also entails making decisions that help keep costs down as well as identify areas of
growth and the funding needed to facilitate such expansion.

It can help improve the company's overall image.

Marketing is vital to a business’s growth, and a business developer can help an organization build
a better brand. A business developer can work closely with the marketing team to develop campaigns
that solidify the company's target audience and reach new customers and markets. A significant
aspect of business development understands the inner workings of a company's services and
services, as well as its customers. Business development leaders can use these insights to help
inform new marketing campaigns that guide potential customers to services and services that could
benefit them.

It may open up expansion into new markets.

Tapping into new areas of opportunity could be a lucrative growth strategy, and business
development involves staying on top of market trends and opportunities. By analyzing demographics

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and customer data, a business developer can find ways to enter these markets and access new
segments of customers.

BUSINESS OBJECTIVES OF A BUSINESS DEVELOPMENT

The five most important objectives of business may be classified are as follows:

1. ECONOMIC OBJECTIVES,
2. SOCIAL OBJECTIVES,
3. HUMAN OBJECTIVES,
4. NATIONAL OBJECTIVES,
5. GLOBAL OBJECTIVES.

Objectives represent the purpose for which an organization has been started. Objectives guide and
govern the actions and behavior of businessmen. According to William F. Glueck, “Objectives are
those ends which the organization seeks to achieve through its existence and operations.” Another
term for objectives is goals. Logically, objectives ought to specify ends or results sought that are
derived from and congruent with the mission the organization has set itself Attempts to set objectives
should always be guided by references to the mission they are meant to fulfill. Business objectives
are something which a business organization wants to achieve or accomplish over a specified period
of time. These may be to earn profit for its growth and development, to provide quality goods to its
customers, to protect the environment, etc.

CLASSIFICATION OF OBJECTIVES OF BUSINESS

It is generally believed that a business has a single objective. That is, to make profit. But it cannot
be the only objective of business. While pursuing the objective of earning profit, business units do
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keep the interest of their owners in view. However, any business unit cannot ignore the interests of
its employees, customers, the community, as well as the interests of society as a whole. For instance,
no business can prosper in the long run unless fair wages are paid to the employees and customer
satisfaction is given due importance. Again a business unit can prosper only if it enjoys the support
and goodwill of people in general.

Business objectives also need to be aimed at contributing to national goals and aspirations as well
as towards international well-being. Thus, the objectives of business may be classified as;
1. Economic Objectives: Economic objectives of business refer to the objective of earning profit
and also other objectives that are necessary to be pursued to achieve the profit objective, which
includes creation of customers, regular innovations and best possible use of available resources.

(i). Profit Earning:

Profit is the lifeblood of business, without which no business can survive in a competitive market. In
fact profit making is the primary objective for which a business unit is brought into existence. Profits
must be earned to ensure the survival of business, its growth and expansion over time. Profits help
businessmen not only to earn their living but also to expand their business activities by reinvesting
a part of the profits. In order to achieve this primary objective, certain other objectives are also
necessary to be pursued by business, which are as follows:

(A)Creation of customers:

A business unit cannot survive unless there are customers to buy the services and services. Again
a businessman can earn profits only when he/she provides quality goods and services at a
reasonable price. For this it needs to attract more customers for its existing as well as new services.
This is achieved with the help of various marketing activities.

(b) Regular innovations:

Innovation means changes, which bring about improvement in services, process of production and
distribution of goods. Business units, through innovation, are able to reduce cost by adopting better

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methods of production and also increase their sales by attracting more customers because of
improved services. Reduction in cost and increase in sales gives more profit to the businessmen.
Use of power looms in place of handlooms, use of tractors in place of hand implements in farms etc.
are all the results of innovation.

(c) Best possible use of resources:

As we all know, to run any business we must have sufficient capital or funds. The amount of capital
may be used to buy machinery, raw materials, employ men and have cash to meet day-to-day
expenses. Thus, business activities require various resources like men, materials, money and
machines. The availability of these resources is usually limited. Thus, every business should try to
make the best possible use of these resources. Employing efficient workers, Making full use of
machines and minimizing wastage of raw materials, can achieve this objective.

B. Social Objectives:

Social objective are those objectives of business, which are desired to be achieved for the benefit
of the society. Since business operates in a society by utilizing its scarce resources, the society
expects something in return for its welfare. No activity of the business should be aimed at giving any
kind of trouble to the society. If business activities lead to socially harmful effects, there is bound to
be public reaction against the business sooner or later. Social objectives of business include
production and supply of quality goods and services, adoption of fair trade practices and contribution
to the general welfare of society and provision of welfare amenities.

(i) Production and Supply of Quality Goods and Services:

Since the business utilizes the various resources of the society, the society expects to get quality
goods and services from the business he objective of business should be to produce better quality
goods and supply them at the right time and at a right price It is not desirable on the part of the
businessman to supply adulterated or inferior goods which cause injuries to the customers. They
should charge the price according to the quality of e goods and services provided to the society.

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Again, the customers also expect timely supply of all their requirements. So it is important for every
business to supply those goods and services on a regular basis.

(ii) Adoption of Fair Trade Practices:

In every society, activities such as hoarding, black- marketing and over-charging are considered
undesirable. Besides, misleading advertisements often give a false impression about the quality of
services. Such advertisements deceive the customers and the businessmen use them for the sake
of making large profits. This is an unfair trade practice. The business unit must not create artificial
scarcity of essential goods or raise prices for the sake of earning more profits. All these activities
earn a bad name and sometimes make the businessmen liable for penalty and even imprisonment
under the law. Therefore, the objective of business should be to adopt fair trade practices for the
welfare of the consumers as well as the society.
(iii) Contribution to the General Welfare of the Society:

Business units should work for the general welfare and upliftment of the society. This is possible
through running of schools and colleges better education opening of vocational training centers to
train the people to earn their livelihood, establishing hospitals for medical facilities and providing
recreational facilities for the general public like parks, sports complexes etc.

С. Human Objectives:

Human objectives refer to the objectives aimed at the well-being as well as fulfillment of expectations
of employees as also of people who are disabled, handicapped and deprived of proper education
and training. The human objectives of business may thus include economic well-being of the
employees, social and psychological satisfaction of employees and development of human
resources.

(i) Economic Well-being of the Employees: In business employees must be provided with tan
remuneration and incentive for performance benefits of provident fund, pension and other

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 amenities like medical facilities, housing facilities etc. By this they feel more satisfied at
work and contribute more for the business.

(ii) Social and Psychological Satisfaction of Employees: It is the duty of business units to
provide social and psychological satisfaction to their employees. This is possible by
making the job interesting and challenging, putting the right person in the right job and
reducing the monotony of work Opportunities for promotion and advancement in career
should also be provided to the employees. Further, grievances of employees should be
given prompt attention and their suggestions should be considered seriously when
decisions are made. If employees are happy and satisfied they can put then best efforts
in work.

(iii) Development of Human Resources: Employees as human beings always want to grow.
Their growth requires proper training as well as development. Business can prosper if the
people employed can improve their skills and develop their abilities and competencies in
course of time. Thus, it is important that business should arrange training and development
programs for its employees.
(iv) ( Well-being of Socially and Economically Backward People: Business units being
inseparable parts of society should help backward classes and also people those are
physically and mentally challenged. This can be done in many ways. For instance,
vocational training programs may be arranged to improve the earning capacity of
backward people in the community. While recruiting its staff, business should give
preference to physically and mentally challenged persons. Business units can also help
and encourage meritorious students by awarding scholarships for higher studies.

D. National Objectives:

Being an important part of the country, every business must have the objective of fulfilling national
goals and aspirations. The goal of the country may be to provide employment opportunity to its
citizen, earn revenue for its exchequer, become self-sufficient in production of goods and services,

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promote social justice, etc. Business activities should be conducted keeping these goals of the
country in mind, which may be called national objectives of business. The following are the national
objectives of business.
(i) Creation of Employment: One of the important national objectives of business is to create
opportunities for gainful employment of people. This can be achieved by establishing new
business units, expanding markets, widening distribution channels, etc.

(ii) Promotion of Social Justice: As a responsible citizen, a businessman is expected to

provide equal opportunities to all persons with whom he/she deals. He/ She is also
expected to provide equal opportunities to all the employees to work and progress.
Towards this objectives special attention must be paid to weaker and backward sections
of the society.

(iii) Production According to National Priority: Business units should produce and supply
goods in accordance with the priorities laid down in the plans and policies of the
government. One of the national objectives of business in our country should be to
increase the production and supply of essential goods at reasonable prices.

(iv) Contribution to the Revenue of the Country: The business owners should pay their taxes
and dues honestly and regularly. This will increase the revenue of the government, which
can be used for the development of the nation.

(v) Self-sufficiency and Export Promotion: To help the country to become self-reliant,
business units have the added responsibility of restricting import of goods. Besides, every
business units should aim at increasing exports and adding to the foreign exchange
reserves of the country.

E. Global Objectives:

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Previously India had very restricted business relationship with other nations. There was a very rigid
policy for import and export of goods and services. But, now-a-days due to liberal economic and
export-import policy, restrictions on foreign investments have been largely abolished and duties on
imported goods have been 36 substantially reduced. This change has brought about increase in
competition in the market. Today due of globalization the entire world has become a big market.
Goods produced in one country are readily available in other countries. So, to face the competition
in the global market every business has certain objectives in mind, which may be called the global
objectives. Let us learn about them.
(i) Raise General Standard of Living: Growth of business activities across national borders
makes quality goods available at reasonable prices all over the world. The people of one
country get to use similar types of goods that people in other countries are using. This
improves the standard of living of people.

(ii) Reduce Disparities among Nations: Business should help to reduce disparities among the
rich and poor nations of the world by expanding its operation. By way of capital investment
in developing as well as underdeveloped countries it can foster their industrial and economic
growth.

(iii) Make Available Globally Competitive Goods and Services: Business should produce goods
and services which are globally competitive and have huge demand in foreign markets. This
will improve the image of the exporting country and also earn more foreign exchange for the
country.

WHAT IS A BUSINESS DEVELOPMENT PLAN?

A business development plan is just like the business plan you created when you started your
business but with a focus on growth and how to achieve it. It’s a long-term plan that outlines
strategies for steady and sustainable business growth over the coming years.

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OPPORTUNITIES FOR GROWTH

Study your target market, your competitors, and your previous progress. From there, identify
opportunities for growth-whether it’s in creating new services, adding more services, breaking into
new markets, a combination of these, or other opportunities. Consider your options and work out
what’s best for your business.

FUNDING PLAN

Determine that how you will fund your business growth. How much capital do you already have?
How much do you need more? How will you get it?

Financial goals

Do profit, revenue, and cost projections, then use them as basis for setting your short-term and long-
term financial goals.

Sales and marketing activities

Figure out what sales and marketing efforts will effectively promote growth and how these efforts
will change as you get bigger and better. Make sure your sales and marketing plan is study enough
to support your growth business.

Team needs

Evaluate your existing team and think about how you can improve their capabilities to meet your
growth objectives. Consider hiring new employees and what skills they need to have.

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HOW TO CREATE YOUR STRATEGIC BUSINESS DEVELOPMENT PLAN

A business development plan that outlines, how you implement your business development strategy.
It can be a plan for an individual, a practice or the firm as a whole. Its scopes both the marketing and
sales functions, as they are so inter-wined in most professional services firms.

1. Define your target audience:

Who are you trying to attract as new clients? Focus on your best-fit clients, not all possible prospects.
It is most effective to focus on narrow that you can’t achieve your business goals.

2. Research their issues, buying behavior and your competitors:

The more you know about your target audience the better equipped you will be to attract their
attention and communicate how you can help them. What are their key business issues? Is your
expertise relevant to those issues? Where do they look for advice and inspiration? What is the
competitive environment? How do you stack up?

3. Identify your competitive advantage:

What makes you different? Why is that better for your target client? Are you the most cost-effective
alternative, or the industry’s leading expert? This “positioning” as it is often called, needs to be true
provable and relevant to the prospect at the time they are choosing which firm to work with. Be sure
to document this positioning, as you will use it over and over again as you develop your messages
and marketing tools.

4. Choose your overall business development strategy:

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Pick the broad strategy or strategies to reach to reach, engage and convert your prospects. You can
start with the list of top strategies provided above. Which strategy fits with the needs and preferences
of your target audiences? Which ones best convey your competitive advantage? For example, if you
are competing because you have superior industry expertise, a thought leadership/content marketing
strategy will likely serve you well.

5. Choose your business development tactics:

A great place to start is the list of the most effective tactics we provided above. Make sure that each
technique you select fits your target audience and strategy. Remember, it’s not about your personal
preferences or familiarity with a tactic. It’s about works with the audience. Also, you will need to
balance your choices in two important ways: First, you will need tactics that address each stage of
the business development pipelines. Some techniques work great for term nurturing. You need to
cover the full funnel. Second, you need a good balance between digital and traditional techniques.

6. Specify how you will monitor implementation and impact:

Often overlooked, these important considerations often spell the difference between success
and failure. Unimplemented strategies don’t work. Keep track of what you do, and when. This will
both motivate action and provide a great starting place as you troubleshoot your strategy. Also
monitor and record the impacts you see. The most obvious affect will be how much new business
you closed. But you should also monitor new leads or new contracts, at the bare minimum.
Finally, don’t neglect important process outcomes such as referrals, new names added to your
list, downloads of content that expose prospects and referral sources to your expertise.
If you follow these steps you will end up with a documented business development strategy and
a concrete plan to implement and optimize it.

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TOP BUSINESS DEVELOPMENT STRATEGIES

Networking: networking is probably the most universally used business development strategy.
It’s built on theory that professional services buying decisions are rooted in relationships, and the
best way to develop new relationships is through face-to-face networking. It certainly is true that
many relationships do develop in that way. And if you are networking with your target audience,
you can develop new business. But there are limitations. Today’s buyers are very time pressured,
and networking is time consuming. It can be very expensive, if you consider travel and time away
from the office. Newer digital networking techniques can help on the cost and time front. But even
social media requires an investment of time and attention.

Referrals: The close relative of networking and referrals are often seen as the mechanism that
turns networking and client satisfaction into new business. You satisfied clients do the same.
Clearly, referrals do happen, and many firms get most or all of their business from them. But
referrals are passive. They rely on your clients and contacts to identify good prospects for your
services and make a referral at the right time. The problem is referral sources often do not know
the full range of how you can help a client. So many referrals are poorly matched to your
capabilities. Other well-matched referrals go unmade because your referral source fails to
recognize a great prospect when they see one. Finally, many prospects that might be good clients
rule out your firm before even talking with you. One recent study puts the number at over 50%.

Sponsorships and advertising: this can develop new business directly by sponsoring events
and advertising? It would solve a lot of problems if it works. No more trying to get time from fully
utilized billable professionals. Unfortunately, the results on this front are not very encouraging.
Studies have shown that traditional advertising is actually associated with slower growth. Only
when advertising is combined with other techniques, such as speaking at an event, do these
techniques bear fruit. The most promising advertising strategy seems to be well-targeted digital
advertising. This allows firms to get their messages and offers in front of the right people at a
lower cost.

23
Outbound telephone and mail: professional services firms have been using phone calls and
mail to directly target potential clients for decades. Target the right firms and roles with a relevant
message and you would except to find new opportunities that can be developed into clients.
There are a couple of key challenges with these strategies. First, they are relatively expensive,
so they need to be just right to be effective. Second, if you don’t catch the prospect at the right
time, your offer may have no appeal relevance — and consequently, no 40 impacts on business
development. The key is to have a very appealing offer delivered to a very qualified and
responsive list. It’s not easy to get this combination right.

Thought leadership and content marketing: the strategy is to make your expertise visible to
potential buyers and referral sources. That is accomplished through writing, speaking or
publishing content that demonstrate your expertise and how it can be applied to solve client
problems. Here, the strategy is to make your expertise visible to potential buyers and referral
sources. This is accomplished through writing, speaking or publishing content that demonstrates
your expertise and how it can be applied to solve client problems.

Books, articles and speaking engagements have long been staples of professional services
business development strategy. Many high visibility experts have built their practices and firms
upon this strategy. It often takes a good part of a career to execute this approach.

But changing times and technology have reshaped this strategy. With the onset of digital
communication it is now easier and much faster to establish your expertise with a target market.
Search engines have leveled the playing field so that relatively unknown individuals and firms
can become known even outside their physical region. Webinars have democratized public
speaking, and blogs and websites give every firm a 24/7 presence. Add in video and social media
and the budding expert can access a vastly expanded marketplace.

But these developments also open firms to much greater competition as well. You may find
yourself competing with specialists whom you were never aware of. The impact is to raise the
stakes on your business development strategy.

24
Combined strategies: it is common to combine different business development strategies. For
example, networking and referrals are frequently used together. And on one level, a combined
strategy makes perfect sense.

But there is a hidden danger. For a strategy to perform at its peak, it must be fully implemented.
There is a danger that by attempting to execute too many different strategies you will never
completely implement any of them.

Good intentions, no matter how ambitious, are of little real business development value. Under-
investment, lack of follow through and inconsistent effort are the bane of effective business
development.

It is far more effective to fully implement a simple strategy than to dabble in a complex one. Fewer
elements, competently implemented, produce better results.

Next, we turn our attention to the tactics used to implement a high-level strategy. But first there
is a bit of confusion to clear up.

Business Development vs. Marketing

Marketing is the process of determining which services and services you will offer to which target
audiences, at what price. It also addresses how you will position and promote your firm and it’s
offerings in the competitive marketplace. The result of all this activity should be an increasing
awareness of your firm among your target audience — and a stronger flow of qualified leads and
opportunities.

Historically, business development has been a subset of the marketing function that was focused
on acquiring new marketing or distribution relationships and channels. While this role still exists
in many companies, the business development title has become interchangeable with many
marketing and sales functions.

25
Business Development vs. Sales

Sale is the task of converting leads or opportunities into new clients. Business development is a
broader term that encompasses many activities beyond the sales function. And while there is
some overlap, most traditional BD roles are only lightly involved in closing new clients.

Business development is often confused with sales. This is not too surprising because many
people who are clearly in sales have taken to using the title of Business Developer. Presumably
this is done because the organization believes that the BD designation avoids some possible
stigma associated with sales.

Nowhere is this practice more prevalent than in professional services. Accountants, lawyers and
strategy consultants do not want to be seen as “pushy sales people.” This titular bias is firmly
rooted despite the fact that developing new business is an important role of most senior members
of professional services firms.Since so many clients want to meet and get to know the
professionals they will be working with, the Seller-doer role is well established in many firms. The
preference for Seller-doers also tends to discourage firms from fielding a full-time sales force.

As an alternative approach to leveraging fee-earners’ time, some firms have one or more
Business Developers on staff. In the professional services context, these folks are often involved
in lead generation and qualification, as well as supporting the Seller-doers in their efforts to close
new clients. In other organizational contexts, this role might be thought of as a sales support role.

The result of this confusing picture is that many professional services firms call sales “business
development” and make it part of every senior professional’s role. They may also include some
marketing functions, such as lead generation and lead nurturing, into the professional’s BD
responsibilities.It is this expanded role, where business development encompasses the full range
of lead generation, nurturing and sales tasks, which we will concentrate on in this post.

26
Strategic Business Development

Not all business development is of equal impact. In fact a lot of the activities of many
professionals are very opportunistic and tactical in nature.This is especially true with many seller-
doers. Caught between the pressures of client work and an urgent need for new business they
cast about for something quick and easy that will produce short term results. Of course this is no
real strategy at all.

Strategic business development is the alignment of business development processes and

procedures with your firm’s strategic business goals. The role of strategic business development
is to acquire ideal clients for your highest priority services using brand promises that you can
deliver upon.

Deciding which targets to pursue and strategies to employ to develop new business is actually a
high stakes decision. A good strategy, well implemented, can drive high levels of growth and
profitability. A faulty strategy can stymie growth and frustrate valuable talent.

Yet many firms falter at this critical step. They rely on habit, anecdotes and fads — or worse still,
“this is how we have always done it.” In a later section we’ll cover how to develop your strategic
business development plan. But first we’ll cover some of the strategies that may go into that plan.

Business Development Strategy vs. Tactics

The line between strategy and tactics is not always clear. For example, you can think of
networking as an overall business development strategy or as a tactic to enhance the impact of
a thought leadership strategy, Confusing to be sure.

From our perspective, the distinction is around focus and intent. If networking is your business
development strategy all your focus should be on making the networking more effective and
efficient. You will select tactics that are aimed at making networking more powerful or easier. You

27
may try out another marketing technique and drop it if it does not help you implement your
networking strategy.

On the other hand, if networking is simply one of many tactics, your decision to use it will depend
on whether it supports your larger strategy. Tactics and techniques can be tested and easily
changed. Strategy, on the other hand, is a considered choice and does not change from day to
day or week to week.

28
10 Most Effective Business Development Tactics

Which business development tactics are most effective? To find out, we recently conducted a
study that looked at over 1000 professional services firms. The research identified those firms
that were growing at greater than a 20% compound annual growth rate over a three-year period.

These High Growth firms were compared to firms in the same industry that did not grow over the
same time period. We then examined which business development tactics were employed by
each group and which provided the most impact.The result is a list of the ten most impactful
tactics employed by the High Growth firms:

1. Networking at targeted conferences, trade shows and events

2. Providing assessments and/or consultations
3. Demos (in-person or digital)
4. Using a proposal toolkit
5. Speaking at targeted conferences or events
6. Video blogging
7. Creating downloadable, gated content
8. Nurturing prospects through phone calls
9. Publishing written blog posts on your website
10. Digital ads(pay-per-click, banner ads, etc.)

29
OBJECTIVE

30
The aim of this study is;

1. To find the direct and indirect impact of business development strategies.

2. To find the effectiveness of business development.

3. To learn about the different kinds of business development techniques used to grow company

4. To ascertain the most appropriate and successful business development technique.

31
LITERATURE REVIEW

32
Business development and marketing are two important business functions. Business development
is a concept that relates closely to strategy and is part of the business model. It is the function of
growing a business through a range of activities from mergers and acquisitions, financial and
performance management, and their associated revenue and profit streams. Business development
includes marketing and sales as a distinct activity (Sørensen, 2012). Marketing and sales or
‘business development management’, the name given by practitioners, is an integral part of project-
based firms or project businesses in general and hence for construction firms in particular. There are
a number of important interfaces:

• Marketing, as it cascades into sales or business development, is about value as well as selling,
therefore identifying, creating and delivering potential value in the form of value propositions.
Value is a central issue because it constitutes a general means to secure market influence
and reputation, and a specific means to secure repeat business.
• Selling a potentially valuable construction service is achieved through integration using
mechanisms of cross-functional coordination and in the system integrator role, aligning supply
chain delivery to the value propositions developed through business development and bid
management.
• Contact is needed to sell and is managed with existing clients between contracts and for most
new ‘good’ and targeted clients commences prior to any project opportunity. Business
development cascades from the business development function and programme management
level in a contracting firm into the construction opportunity where activity becomes located at
the front of the construction project front-end. Business development, therefore, operates in
parallel with organizational and marketing capabilities in the firm and at the programme
management level and the project level to progress the opportunity through prequalification
and bidding prior to delivery on site.
• Business development managers (BDMs) conceptually are involved in project shaping at the
front end to help form value propositions, using knowledge and learning gleaned from clients
and end users through contacts, ongoing and completed works.
• BDMs conceptually are involved in client management during project and construction
management over the project lifecycle, sometimes highlighted and assigned to the programme
management role of key account management (KAM) on the ground.

33
• There is also a conceptual post-completion role to monitor benefits delivery and impact for
learning about how construction facilities are used in context in order to generically inform
future value propositions that involves engagement with the range of different end-users
including facilities and asset managers.

The interfaces are both conceptual and applied. Practice can be inconsistent and poorly articulated
– functions and tasks being implicit in some organisations and absent in others. In the case of post-
completion, this aspect largely remains a conceptual ideal rather than practice. Yet for all these items
there is an explicit contribution to theory as well as practices as academics have frequently failed to

fully articulate the functions and processes involved that interface with or centrally involve marketing
and business development. Thus, this Special Issue is as much for mainstream construction
management as it is for those being more explicitly interested in marketing and business
development in construction.

A number of issues are drawn out from the recent project and construction literature selectively in
order to illustrate the arguments. First in relation to projects in general, there has been a recent call
for a renewed emphasis upon the benefits and impact of projects (Morris, 2013). This relates to client
and external stakeholder satisfaction and to the way that value is realised in use and thus how
contractors understand and respond to what is valuable to clients and their end-users of construction
projects.

Second, there was an emphasis upon the project as a delivery tool (for example see
Packendorff, 1995) until Lundin and Söderholm (1995) developed the theoretical perspective of the
project organisation as temporary artifact, which in construction was pre-dated by the concept of the
temporary multi-organisational organisation or TMO (Cherns and Bryant, 1984), which has
proceeded to occupy a major position in the literature (Winch, 2014). Business development
conceptually provides an umbilical cord between the construction firm as a relatively stable and
permanent organisation and the (temporary) project organisation – in addition and complimentary to
other functions, involving commercial directors, procurement and other key roles.

34
This forms part of the under-examined areas of commercial activity in project research that Winch
(2014) recently identified. Such research links the temporal with the delivery mode of the project,
echoing the compatibility of the two theoretical perspectives noted by Turner and Müller (2003).
Within transactional marketing emanating from the marketing mix paradigm, the project is
conceptually located as the delivery channel, that is within place of the so-called 4Ps (see
Smyth, 2015 for further explication), but around 1985 a paradigm shift to relationship marketing was
underway that dropped this conceptualisation, especially in business-to-business markets. The
paradigm is now obsolete in theory development although residual practices remain in many sectors
including construction.

35
COMPANY PROFILE

36
Overview

Hireaven is a campus recruitment consultancy. They help Colleges to excel their placement rankings
by getting the 100% placement badge and their students by getting their employability skills off the
roof.

VISION - To Excel the Career Trajectory by Innovating Campus Recruitment

Mission: On a mission to innovate campus recruitment by making colleges the superheroes of

their student's careers.

Website: https://www.hireaven.com/

Industry: Education

Company size: 5-12 employees

Headquarters: New Delhi, Delhi

Type: Sole Proprietorship

Industry Experience : New to the market. Only 6 months of active business operations.

37
RESEARCH METHODOLOGY

38
RESEARCH METHODOLOGY

Research refers to the systematic investigation into and study of materials and sources in order to
establish facts and reach new conclusions. Research comprises "creative work undertaken on a
systematic basis to increase the stock of knowledge, including knowledge of humans, culture and
society, and the use of this stock of knowledge to devise new applications." It is used to establish
or confirm facts, reaffirm the results of previous work, solve new or existing problems, support
theorems, or develop new theories. In the broadest sense of the word, the definition of research
includes any gathering of data, information, and facts for the advancement of knowledge. It is a
process of steps used to collect and analyse information to increase our understanding of a topic
or issue". It consists of three steps: pose a question, collect data to answer the question, and
present an answer to the question.
The process used to collect information and data for the purpose of making business decisions is
called as Research Methodology. It includes publication research, interviews, surveys and other
research techniques, and could include both present and historical information.
The purpose of Methodology is to describe the purpose involved in the Research Work. This
includes the overall Research Design, the data collection method. Research Methodology refers to
the various sequential steps to be adopted by a Researcher in studying a problem with certain
object or objective in view.

RESEARCH DESIGN:

A research design is the set of methods and procedures used in collecting and analysing
measures of the variables specified in the research problem research. The design of a study
defines the study type (descriptive, correlational, semi-experimental, experimental, review, meta-
analytic) and sub-type (e.g., descriptive-longitudinal case study), hypotheses, independent and
dependent variables, experimental design, and, if applicable, data collection methods and a
statistical analysis plan. Research design is the framework that has been created to find answers
to research questions. There are many ways to classify research designs, but sometimes the
distinction is artificial and other times different designs are combined. Nonetheless, the list below
39
offers a number of useful distinctions between possible research designs. A research design is an
arrangement of conditions or collections.

A research design is a systematic approach that a researcher uses to conduct a scientific study. It
is the overall synchronization of identified components and data resulting in a plausible outcome.
To conclusively come up with an authentic and accurate result, the research design should follow a
strategic methodology, in line with the type of research chosen. To have a better understanding of
which research paper topic, to begin with, it is imperative to first identify the types of research.

TYPES OF RESEARCH DESIGN:

 Exploratory Research
Exploratory research, as the name implies, intends merely to explore the research questions and
does not intend to offer final and conclusive solutions to existing problems. This type of research is
usually conducted to study a problem that has not been clearly defined yet.

 Descriptive Research
Descriptive research can be explained as a statement of affairs as they are at present with the
researcher having no control over variable. Moreover, “descriptive studies may be characterised as
simply the attempt to determine, describe or identify what is, while analytical research attempts to
establish why it is that way or how it came to be”.

40
DATA COLLECTION:

Data Collection
Data collection is the process of gathering and measuring information on variables of interest, in an
established systematic fashion that enables one to answer stated research questions, test
hypotheses, and evaluate outcomes. A formal data collection process is necessary as it ensures that
the data gathered are both defined and accurate and that subsequent decisions based on arguments
embodied in the findings are valid. The process provides both a baseline from which to measure
and in certain cases an indication of what to improve.

Methods of Data Collection:

There are two types of data collection methods namely primary data collection and secondary data
collection.

Primary data

Primary Data is the data which is originally collected by an investigator or agency for the first time
for specific purpose. The source from which the primary data is collected is called the primary source.
Such data is original in character as it is collected for the first time. It is first-hand information. Primary
Data once collected and published becomes Secondary Data. There are many methods to collect
primary data and the main methods include:
 Questionnaires

 Interviews

 Focus group interviews

 Observation

41
Secondary Data:

The data which is not directly collected but rather obtained from the published or unpublished
sources is known as Secondary Data. It is also known as Second Hand Data. These are not
original data since the enumerators or investigators themselves do not collect these data. They
simply make use of the data collected by the others. Common sources of secondary data
include:

 Census

 Large surveys

 Internet

 Journals

 Books

 News papers

 Organizational records

Thus, the data for is collected through primary sources (questionnaire) and the research is
descriptive in nature. The study was conducted among 50 individuals.

Methods Used:

Primary and Secondary methods are used in the collection of data for the report. Primary data
includes the responses taken from the Authors, from the personal interaction with the customers of
42
 the company. Secondary data includes the analysis taken from the various articles and other various
websites from the internet.

Primary Data used:

Authors and publishers Survey were done with a sample size of 50 respondents at filmy loop
website.

Research Design Used:

This research is based on descriptive research design. It shows the current sentiment of
employees. The survey was done to check the opinion of Authors take on online purchase of
services of book reviews from filmy loop.

RESEARCH PROCESS IN THIS PROJECT/STUDY

 Research Type: Exploratory and Descriptive

 Data Collection: Primary Data and Secondary both

 Population: AUTHORS (Individual)

 SAMPLE SIZE: 10

 RESEARCH TOOLS: Pie charts and Bar graphs

 TOOLS OF ANALYSIS: Percentage and Pie Charts

43
DATA ANALYSIS & INTERPRETATION

44
 1. Does Hireaven has enough resources to sell their service?

(a) Strongly agree (c) Disagree

(b)Agree (d) strongly disagree

resources to sell

disagree
strongly disagree

The survey, that 30% of the people who were surveyed strongly agree to the option that
HIREAVEN possess relevant recourse to sell out their product that is construction of housing
societies and complexes to the relevant customers. Whereas 34% and 26% respectively, came
to a conclusion of agree and disagree the fact and fixtures. Where 10% strongly disagreed with
the point and thought
that the company has to improvise in the certain area so that the selling of the product may
increase as per the yearly targets.

45
2. What according to you is the service best selling point?

(a) Cheap (c) Easy availability

(b) Quality (d) Others

BEST SELLING POINT

easy availability

HIREAVEN being a relatively new company in the market and laving high competition. The
respondents agreed to a certain level that easy availability and quality of the conduction is the
main and leading beat selling point. A cumulative of 62%(30% and 32%) respectively agreed
to the same , agreed to the same , where as a healthy percentage of 3% came to the decision
that the price and various other factors were the selling point of the product.

46
 3. What is the target audience for HIREAVEN?

(a) High income group (c) lower income group

(b) Middle income group (d) all

TARGET AUDIENCE

Middle income group

In the questionnaire the main question was the target audience of HIREAVEN Being a real estate firm
it is very important for the company to set their preferences in regard to target audience. The respondents
agreed to the point that the company should focus more on the middle income group because the
segment of the housing societies that the company deals in cam is easily sold to middle income group.
Nearly 40% of the respondents agreed to that point. 28% respondents also agreed to the lower income
group can also be targeted as know they have power of housing loan schemes from various bank. 14%
favored the high income group people to be the target audience keeping in mind the business of the
company of building complexes.
47
4. Where HIREAVEN does sells their services?

(a) In business premise (c) Online

(b) Through agents (d) through business sources

Place of their services

services

though agents

through business sources

According to the respondents the main place of selling for HIREAVEN is within business. 30%
agreed to the point that the main business is generated within their business this is because
the purchases visit the company so as to vies the flats and complexes and main
collaborations regarding the construction of various sites for road in done within the company
. The company also sells the product though the agents on the comic basis. This helps them
to obtain good volume of sales because more offer the customers goes to agent and property
dealers to buy property. Which in turn have link with company.45% selling in dose though
these dealers? With the growing use of internet for various purchases the company had also
started online procedures for sale through internet.

48
 5. What does the marketing plan of HIREAVEN covers?

(a) Internet (c) Sales promotion

(b) Advertising (d) direct marketing

(e) Public relations

Market plan

direct markeeting

The main aims of the marketing plan that HIREAVEN has is to advertise this product in the market
and to do direct marketing at the same time. 38% and 29% of the respondents agreed to the
same point. Then main focus is on sales promotion of the product. Later comes the use of
internet to advertise and market the product so as to grow public relations with more and more
customers which in turn will be a great help increasing the turnover of the company.

49
6. How can marketing help increase help increase in sale for HIREAVEN?

(a) Increase in profit (c) Building a brand name

(b) Increase customer knowledge (d) no use

Marketing helps in

incresing customers knowlage

Marketing has a core aim of increasing the sale of the company. According to a large number
of residents (38%) marketing will help the company to increase sale which will result in
increasing the profit of the company which can be further used for expansion of the business.
More over HIREAVEN being a new brand in the market has to also understand the important of
building a potential and sustainable brand name in the market. Marketing will contribute in the
cause according to 31% of the respondents. Marketing and proper advertisement will also make
the customer aware of the upcoming projects and will provide them with the knowledge.

50
7. What is the best medium for the advertisement according to your of view?

(a) Local newspapers (c) Radio

(b) Hoarding (d) Campaigns
(e) Internet

Medium of advertisement

local newspapers

Campaigns

HIREAVEN according to the respondent’s should advertise the product through local
newspaper. 34% agreed to it. The reason being easy penetration of newspapers amongst the
people in the society, a very large % of people read newspaper on daily basis and this can be a
core means of advertising the product. Radio in the present day has become very popular
amongst the people, with easy access in every house and cars it has grown as a very strong
medium of advertisement. 23% of the respondent also shares the same view. 18% each agreed
to the point that hoarding and campaigns can also be used as effective means of advertisement.

51
8. What according to you can be other modes of marketing that can be used by HIREAVEN?

(a) Direct mail (c) Social media marketing

(b) Brand marketing (d) Mobile web marketing

MODE OF MARKETING

Brand marketing
Social media marketing
Mobile web marketing

Ways of marketing is another import segment of marketing. The various modes can be direct
mail, Brand marketing, Social-media marketing and mobile web marketing. 39% of the
respondents agreed to the point that social media marketing can br5 a perfect way of
marketing. Where’s 33% approved that brand marketing can be used as the mode. Which state
that the company should use its brand name for marketing the services. A cumulative of 28%
agreed that direct mail and mobile web marketing that is marketing through SMS and cold calling
can also turn as an effective way of marketing.

52
9. How much according to you HIREAVEN is willing and realistically able to spend
on advertisement?

(a) 0 to 10% of revenue (c) 20% to 30% of revenue

(b) 10% to 20% of revenue (d) 30% to 40% of revenue

Marketing Budget

10% to 20% of revenue

20% to 30% of revenue
30% to 40% of revenue

Every company has to decide a budget for marketing. A proper budget helps in effective ness
of the marketing schedule. 48% of the respondents agreed to the point that EARTH
INFRATUCTURE should invest 20% to 30% of their revenue in marketing because being a new
company they need to build a brand name and to do that it takes a lot of funds and resources.
While 25% of people have a view that a little less amount can also be the needful.

53
10. What according to you is the impression of the advertisement by HIREAVEN?

(a) Funny (c) Informative

(b) Interesting (d) Boring

Effectiveness of the Advertisement

informative

When the respondents were questioned the effectiveness of the current advertisement, 42% of
them said that advertisement is informative and provide knowledge about the product. 33%
agreed that the advertisement was inserted enough to pay attention on the advertisement. On
the other hand 18% and 7% respondents respectively replied the advertisement was funny
and boarding.

54
Findings

55
 FINDING

 The survey showed that 30% of the people who were surveyed strongly agree to the option that
Hireaven possess relevant resources to sell out their services that is placement of the student
to the relevant customers
 Relatively new company in the market and having high competition, the respondents agreed to
certain level that the easy availability and quality of the construction is the main and leading beat
selling point.
 Being education firm it is very important for the company to set their preferences in regard to
target audience.
 The main focus is on sales promotion of the services, later comes the use of internet to advertise
and market the product so as to grow public relations with more and more customers which in turn
will be great help increasing the turnover of the company.
 Marketing and proper advertisement will also make the customers aware of the upcoming projects
and will provide them with knowledge.

56
LIMITATIONS

57
 LIMITATIONS OF THE STUDY

Many constraints were involved in doing this study. Some of them are as
follows:

➢ The sources from which secondary data is collected may not be accurate
so there is a scope of inaccuracy.
➢ Primary data does not help in forming any analysis or deductions unless
and until it is refined through statistical methods.
➢ The responses received may be inaccurate because of inherent bias by the
respondents.
➢ Documents may lack authenticity– parts of the document might be missing
because of age, and we might not even be to verify who actually wrote the
document, meaning we cannot check whether its biased or not.
➢ The present study relied on supervisory judgments for measures of task and
contextual performance. Although it is presumed that supervisory
judgments are good measures of performance there is always potential for
ideas in perpetual processes. Therefore, future research might address the
issue by including both supervisors and peer ratings in their studies or using
more objective performance measures if available.

58
RECOMMENDATIONS AND CONCLUSIONS

59
RECOMMENDATIONS

 Hireaven is entering the market and therefore has to necessarily preparing the entire costing
with an intention to provide the best goodwill.
 I have seen the attitude and style of the working of this company’s people is very good and target
oriented. They are full of zeal to work for the organization which is a good sign for the
development of the company.
 Even in this recession period when most of the companies are struggling to survive this company
is one of those strong companies which is not only stable but making huge profits

60
QUESTIONNAIRE

61
 1. Do the HIREAVEN has enough resources to sell their products?

a. Strongly agree
b. Disagree
c. Agree
d. Strongly disagree

2. What according to you is the product’s best selling point?

a. Cheap
b. Easy availability
c. Quality
d. Others

3. What is the target audience for HIREAVEN?

a. High income group

b. Lower income group
c. Middle income group
d. All

5. Where does ‘HIREAVEN’ sells their products?

a. In a business premise
b. Online
c. Through agents
d. Through business sources

6. What does the marketing plan of HIREAVEN covers

a. Internet
b. Sales promotion
c. Advertising
d. Direct marketing
e. Public relations

7. How can marketing help increase in sale for HIREAVEN?

a. Increase in profit
b. Building a brand name
c. Increasing customer knowledge
d. No use

62
8. What is the best medium for the advertisement according to your point of view?

a. Local newspapers
b. Radio
c. Hoardings
d. Campaigns
e. Internet

9. What according to you can be other modes of marketing that can be used by HIREAVEN?

a. Direct mail
b. Social media marketing
c. Brand marketing
d. Mobile web marketing

10. How much according to you HIREAVEN are willing and realistically able to spend on advertisement?

a. 0 to 10% of revenue
b. 20 to 30% of revenue
c. 10 to 20% of revenue
d. 30 to 40% of revenue

11. What according to you is the impression of the advertisement by HIREAVEN?

a. Funny
b. Informative
c. Interesting
d. Boring

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BIBLIOGRAPHY

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 BIBLIOGRAPHY

1. https://blog.alexa.com/market-research-questions/
2. https://www.investopedia.com/
3. https://www.strategic-planet.com/2015/01/sales-promotions-online/
4. https://www.managementstudyguide.com/online-sales-promotion-
and-advertising-methods.htm
5. https://www.economicsdiscussion.net/sales/sales-promotion-
methods/31862
6. https://www.yourarticlelibrary.com/
7. https://theinvestorsbook.com/
8. https://smallbusiness.chron.com/
9. https://accountlearning.com/
10. https://www.businessmanagementideas.com/
11. www.google.com
12. www.wikipeida.com
13. www.hireaven.com
14. https://forms.gle/sQzFD5MV5fPQCaso8

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