Market Survey on taxation Product of Relyon Softech Ltd
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Market Survey on taxation Product of Relyon Softech Ltd

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MBA VTU MARKETING PROJECT

MBA VTU MARKETING PROJECT

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Market Survey on taxation Product of Relyon Softech Ltd Market Survey on taxation Product of Relyon Softech Ltd Document Transcript

  • A Project Report on MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD BY DEEKSHITH SHETTY 1EW12MBA09 Submitted to VISVESVARAYA TECHNOLOGICAL UNIVERSITY, BELGAUM In partial fulfillment of the requirements for the award of the degree of MASTER OF BUSINESS ADMINISTRATION Under the guidance of INTERNAL GUIDE EXTERNAL GUIDE Dr.Nagesh Rao Mr. Parmesh .N Professor Regional Partner Department of MBA East West Institute of Technology #63, Magadi main road, Vishwaneedam post, Bangalore 91 2012-2014
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD I, Deekshith Shetty hereby declare that the Project report entitled with MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH reference to the company Relyon Softech Ltd, Rajajinagar, Bangalore prepared by me under the guidance of Dr. Nagesh Rao, faculty of MBA Department, East West Institute of Technology, Bangalore. I also declare that this Project work is towards the partial fulfilment of the University regulations for the award of degree of Master of Business Administration by Visvesvaraya Technological University, Belgaum. I further declare that his project is undertaken by me and has not been submitted for the award of any degree from any other VTU. 2 DECLARATION East West Institute of Technology, Bangalore PLACE: Bangalore DATE: Signature of the Student
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD I would like to express my sincere gratitude to Mr. PARAMESH N, REGIONAL MANAGER, RELYON SOFTECH LTD for all the guidance and help rendered for the successful completion of this project. I would like to thank my project guide Dr Nagesh Rao, Professor, EAST WEST INSTITUTE OF TECHNOLOGY,BANGALORE whose contribution was insightful and helped me, to get well acquainted to the project intricacies. I also make use of this opportunity to thank the entire faculty members and Friends of my college, who supported and helped me in completing this project. Lastly, my heartfelt thanks to HOD, PRINCIPAL EAST WEST INSTITUTE OF TECHNOLOGY, BANGALORE for the support and regular guidance given to me throughout the project. Place: BANGALORE DEEKSHITH SHETTY DATE: 3 ACKNOWLEDGEMENT East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 4 Table of content East West Institute of Technology, Bangalore Sl.No Chapter Name Page Number 1 EXECUTIVE SUMMARY 1 2 INTRODUCTION 2-6 3 INDUSTRY AND COMANY PROFILE 7-31 4 THEORITICAL BACKGROUND OF THE STUDY 32-45 5 DATA ANLYSIS AND INTERPRETATION 46-64 6 FINDINGS AND SUGGESSIONS 65-69 7 BIBILOGRAPHY 70 8 ANNEXURE 71-72
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 5 LIST OF TABLES East West Institute of Technology, Bangalore TABLE NO. PARTICULARS PAGE NO. 4.1 TABLE SHOWING WHICH PRODUCT OF RELYON USING BY THE CUSTOMERS 48 4.2 TABLE SHOWING FROM HOW MANY YEARS CUSTOMERS ARE USING THE RELYON PRODUCT 49 4.3 TABLE SHOWING SATISFACTION LEVEL OF CUSTOMERS BY THE RELYON PRODUCTS 50 4.4 TABLE SHOWING AWARENESS ABOUT THE COMPETITORS 51 4.5 TABLE SHOWING OPERATING PROCESS OF RELYON 52 4.6 TABLE SHOWING DIFFICULTIES FACED BY OPERATOR 53 4.7 TABLE SHOWING QUALITY OF RELYON SARAL PRODUTS 54 4.8 TABLE SHOWING HOW CUSTOMERS SERVICE OF RELYON PRODUCTS 55 4.9 TABLE SHOWING PROMOTIONAL ACTIVITIES OF RELYON 56 4.10 TABLE SHOWING HOW CUSTOMERS CAME TO KNOW ABOUT RELYON PRODUCTS 57 4.11 TABLE SHOWING PRICE COMPARISON OF RELYON WITH COMPETITORS 58 4.12 TABLE SHOWING SUPPLY CHAIN DURATION OF RELYON 59 4.13 TABLE SHOWING DISCOUNT GIVEN COMPANY TO COMPETITORS 60 4.14 TABLE SHOWING PRODUCT/SERVICE OF RELYON WITH COMPETITORS 61 4.15 TABLE SHOWING HOW CUSTOMERS CONTACT REPRESENTATIVES 62 4.16 TABLE SHOWING PRODUCT RECOMMENDATION BY CUSTOMERS TO OTHERS 63 4.17 TABLE SHOWING TAXATION SOFTWARE PREFERENCE BY CUSTOMERS 64
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD GRAPH NO. PARTICULARS PAGE NO. 4.1 GRAPH SHOWING WHICH PRODUCT OF RELYON 6 LIST OF GRAPHS USING BY THE CUSTOMERS East West Institute of Technology, Bangalore 48 4.2 GRAPH SHOWING FROM HOW MANY YEARS CUSTOMERS ARE USING THE RELYON PRODUCT 49 4.3 GRAPH SHOWING SATISFACTION LEVEL OF CUSTOMERS BY THE RELYON PRODUCTS 50 4.4 GRAPH SHOWING AWARENESS ABOUT THE COMPETITORS 51 4.5 GRAPH SHOWING OPERATING PROCESS OF RELYON 52 4.6 GRAPH SHOWING DIFFICULTIES FACED BY OPERATOR 53 4.7 GRAPH SHOWING QUALITY OF RELYON SARAL PRODUTS 54 4.8 GRAPH SHOWING HOW CUSTOMERS SERVICE OF RELYON PRODUCTS 55 4.9 GRAPH SHOWING PROMOTIONAL ACTIVITIES OF RELYON 56 4.10 GRAPH TABLE SHOWING HOW CUSTOMERS CAME TO KNOW ABOUT RELYON PRODUCTS 57 4.11 GRAPH SHOWING PRICE COMPARISON OF RELYON WITH COMPETITORS 58 4.12 TABLE SHOWING SUPPLY CHAIN DURATION OF RELYON 59 4.13 GRAPH SHOWING DISCOUNT GIVEN COMPANY TO COMPETITORS 60 4.14 GRAPH SHOWING HOW CUSTOMERS CONTACT REPRESENTATIVES 61 4.15 GRAPH SHOWING HOW CUSTOMERS CONTACT REPRESENTATIVES 62 4.16 GRAPH SHOWING TAXATION SOFTWARE PREFERENCE BY CUSTOMERS 63 4.17 GRAPH SHOWING TAXATION SOFTWARE PREFERENCE BY CUSTOMERS 64
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD Software organizations are becoming more important for the developing economy. Bangalore software industry had a phenomenal growth in the last decade and is expected to play a much bigger role in the coming Years. This growth has been due to availability of highly competent and Cost competitive software professionals. Approximately 80 million potential customers available in the market. RELYON SOFTECH Ltd is the leading software Development Company based in the IT hub of India, Bangalore, driven by experienced professionals providing high quality IT products, solutions and services. It was established on August 2000. Bangalore is the corporate office and we have sales offices in Mumbai, Delhi & in other parts of the country. Relyon is doing their operations all over the India. Market survey is the study of the spending characteristics and purchasing power of the consumer who are within your business geographical area of operation, a research method for defining the market parameters of a business. Traditional marketing theory and practice have focus on attracting new customers rather than retaining existing once. Today, however although attractive new customers remaining and important task, the emphasis has shifted towards retaining current customers and built profitable long term relationship with them. The two chapters consists of a general study relating to the IT solution Industry and company profile of Relyon Softech Ltd. It consists of the kind of industry they belong to and the type of business undertaken by them. The other chapter consists of a detailed study on the Service Quality Assessment of the organization. The study states on how the company is rendering the service to their Customers in the highly competitive market. The findings and recommendations are given at the end of the report. This study may help the organization as to how one may be able to improve their market condition with a better way by providing good services to them and it would help them in retaining the customers. 7 EXECUTIVE SUMMARY East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 8 CHAPTER-1 INTRODUCTION East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD Information Technology (IT), as defined by the Information Technology Association of America (ITAA), is "The study, design, development, implementation, support or management of computer-based information systems, particularly software applications and computer hardware." IT deals with the use of electronic computers and computer software to convert, store, protect process, transmit, and securely retrieve information. Today, the term information technology has ballooned to encompass many aspects of computing and technology, and the term is more recognizable than ever before. The information technology umbrella can be quite large, covering many fields. IT professionals perform a variety of duties that range from installing applications to designing complex computer networks and information databases. A few of the duties that IT professionals perform may include data management, networking, engineering computer hardware, database and software design, as well as the management and administration of entire systems. When computer and communications technologies are combined, the result is information technology, or "InfoTech". Information Technology (IT) is a general term that describes any technology that helps to produce, manipulate, store, communicate, and/or disseminate information. Presumably, when speaking of Information Technology (IT) as a whole, it is noted that the use of computers and information are associated. 1.2 INTRODUCTION ABOUT THE INTERNSHIP: Market survey is a tool used to gather information about existing or potential customers or consumer in certain market or population. Market survey which includes social and opinion research is the systematic gathering and interpretation of information about individuals or organizations using statistical and techniques of the applied social sciences to gain insight or support decision making. 9 1.1 INTRODUCTION: East West Institute of Technology, Bangalore 1.3 TOPIC CHOSEN FOR STUDY: Market survey can be defined as study of the spending characteristics and purchasing power of the consumer who are within your business’s geographic area of operation.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD Market survey is concerned with determining existing or potential demand for goods and services or marketing research means according to the American marketing association defines marketing research as the systematic gathering, recording and analyzing of data about problems relating to the marketing of goods and services. 10 East West Institute of Technology, Bangalore 1.4 NEED FOR TH STUDY Assessment of service quality is an important requirement in the growth orientation company. Where the major players like Tally are mainly focuses on providing best quality service to their customers. Therefore, the After Sales Service is a very important function in IT Solutions to maintain and retain a good relationship with their customers 1.5 OBJECTIVES OF THE STUDY: This project is undertaken with the following objective:  To understand the company standards in giving Service to their clients.  To understand the customer expectations about service, and service received by the customers and how to fill the customer Gap.  To understand the Strategies to be taken by Relyon Softech Ltd in order to make its sales and Service and Standards as bench mark for their Customers.  To find out the potential customers 1.6 SCOPE OF THE STUDY: This study is restricted to Existing Customers of Relyon Softech Ltd only. The study does not analyze the kind of service taken by the customers. 1.7 RESEARCH METHODLOGY: The project employs systematic, formal and descriptive research techniques. This is primarily a qualitative research. This study is based on the data collected through structured questionnaire and in-depth, unstructured and informal interview with key personnel. Data Collection method:
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD Data sources consisted of primary and secondary. Sources of primary data include the Software project leads, team leads and developers and testers with a minimum of 7 or more than 7 years of experience. A structured questionnaire was developed and administered to generate the primary data. Sources of secondary data included the information provided by various text books, magazines and internet. Internet has been a major secondary source for the extraction of the expert’s opinion. Sample population: The sample population for the purpose of our study consists of all the software Professionals. Sampling frame: The sampling frame for the purpose of our study consists of all the software Professionals in Bangalore who are currently employed in the role of IT Managers or System administrators. Sample Size: Sample size of 50 respondents with Questionnaire. The composition of the study sample consisted of 50 Companies who are taking the service from the Relyon Softech Ltd from past many years. 11 East West Institute of Technology, Bangalore 1.8 LITERATURE REVIEW: Billiet & Loosveldt, 1988; Groves, Cialdini, & Couper, 1992.These surveys are ideal for information that is to be used for a current project or to reflect current public opinion. Examples include political polls on how people plan to vote or surveys asking a customer to rate his or her satisfaction with a sale transaction. Philip kotler (1994) defines marketing survey, “function that links the consumer, customer, and public to the marketer through information-information used to identify and defines marketing opportunities and problems; to generate, refine, and evaluate marketing actions; to monitor marketing performance; and to improve understanding of the marketing process. Marketing survey specifies the information required to address these issues, designs the methods for collecting information, manages and implements the data collection process analyzes, and communicates the findings and their implications.” Arleck & Settle, 2004; Foddy, 1993.This must also be considered for logistical reasons, as must when data will be collected, how often, and who will be collecting the information. The
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD other literature reviews dedicated to research will continue to operationally explore how instrumentation issues come into the research process, particularly with survey interview methodologies. Esposito & Rothgeb, 1997; Oksenberg, Cannell, & Kalton, 1991.. This begins by describing a broad overview of surveys including why surveys are typically used to collect information. After the purpose of surveys is reviewed, practical considerations of constructing surveys are described. This includes discussion of open and closed questions and why each may or may not be appropriate in a surveying situation Overall, this review offers the first step in considering how valuable information can be collected for the Conquer Consortium. Fraenkel & Wallen, 2006. This may be confusing for those new at constructing surveys, as oftentimes the information being sought through a survey is not naturally seen as a problem. For this research method, then, the research designer must problematize the issue the survey covers by turning it into a question. For instance, if a political advisor wanted to know if her candidate was going to win the election, she might create the question, “Who will vote for” 1.9 LIMITATIONS OF THE STUDY: This dissertation is subject to certain limitations. Some of them are:  The study was conducted over a sample size of 50 respondents from the customer 12 East West Institute of Technology, Bangalore base of Relyon Softech Ltd Only.  The study was done only to existing Customers.  The study included only Relyon Softech Ltd major Customers.  The study is limited to 3 month.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD COMPANY PROFILE & INDUSTRY PROFILE 13 CHAPTER-2 East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD Origin and Development of the Industry These are the four main periods characterized by a principal of technology used to solve the input, processing, and output and communication problems of the time: 14 2.1 INDUSTRY PROFILE East West Institute of Technology, Bangalore 1. Pre Mechanical 2. Mechanical 3. Electromechanical and 4. Electronic Here the Pre mechanical period need for communication was given more importance and it was done by speaking and drawing pictures. Then slowly they started using pen and paper which was considered as input technologies. Then some permanent storage devices like books are maintained. Later number system was developed. Then in the mechanical age first movable metal printing was done. Later on Pascaline and Leibinz’s machine were used. First mechanical engines were used. Thirdly in the Electromechanical age things like voltaic battery, telegraph, morse code, telephones and radios, electro mechanical machines and punch card machines were used. Finally in the electric age, electronic vacuum tubes were discovered. Later on ENIAC and EDVAC were developed. Then computer for first commercial use UNIVAC was developed. Then slowly generation after another fourth generation computers were created. Growth and present status of the Industry Information Technology (IT) is the fastest growing sector in the economy with a 68% increase in output growth rate projected between 2002 and 2012. (U.S.Bureau of Labour Statistics). Employment opportunities are expected to be good in the IT industry as demand for computer-related occupations increases due to rapid advances in computer technology. 92% of all IT workers are in non-IT companies, 80% of which are in small companies.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD Growth and Present status of the Industry in India Avaya Global Connect Ltd sees the Indian market for software and technology services growing faster than the western world and other countries, Avaya, which provides communication systems and services, derives about 90 percent of its revenues from India, mainly from back-office functions, financial services sector and IT-enabled 15 East West Institute of Technology, Bangalore services. According to Nasscom, The Indian back-office industry generated revenues of $11 billion in 2007/08, According to a study done by Nasscom in association with the Everest group the back office industry is seen generating revenues of $50 billion by 2012. Future of the Industry Ray Kurzweil main thesis is that IT doesn’t just lead to linear growth, as humanity has experienced in the past, but exponential growth, and not just with IT. Kurzweil thinks that, a quarter century from today, common computers will have more capabilities compared with today and also includes consciousness and the ability to have emotional and even spiritual experiences. Technorealism is the name that has been coined for thinking critically about the role that IT plays in society and history. By the year 2019, thanks to information technology (IT), humans will have largely overcome the limits of our humanity. We will have found cures for the major diseases that kill 95 percent of us in the developed world. By 2029, we will become godlike—tiny computer chips embedded into our bodies will stop disease and reverse aging, ever expanding our life spans. 2.2 COMPANY PROFILE ORIGIN OF RELYON SOFTECH RELYON SOFTECH Ltd is the leading Software Development Company based in the IT hub of India, Bangalore, driven by experienced professionals providing high quality IT products, solutions and services. It was established on august 2000. Bangalore is the corporate office
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD and we have sales offices in Mumbai, Delhi & in other parts of the country. Relyon is doing their operations all over the India. Relyon Softech Ltd honours and respects their people and values them above all their assets. People are strength and enable them to succeed in all corporate endeavours. At RELYON believe in inculcating in every employee, habits of excellence and excellence as a habit. This creates an employee friendly environment benefiting them in their overall development. At Relyon they understand the responsibility that organization like theirs has towards shareholders, customers, dealers and employees. In order to live up to these responsibilities, at RELYON, have a value system and adhere to it with both words and spirit. RELYON has its vision clear and unambiguous, has set high Standards of Performance and is successful in POSITIONING its Name, Products, Business and Technology strategies in today's dynamic digital environment. ABOUT THE ORGANIZATION Company is promoted by eminent Professionals having decades of experience in the field of Accounting, Banking, Taxation, Industry, Finance, Administration and Information Technology, making the company's position stronger in the market. The company is lead by Sri Shamji L Patel, Chartered Accountant, Bangalore, Sri S. Mohan, FCA, Chennai, Sri H S Nagendra, Cost Accountant, Bangalore, Sri Nitin S Patel, MBA Director & supported by highly skilled technical and marketing team to ensure Total Quality Management and Customer Satisfaction. At RELYON, endorse the concept that customer is the king. Honouring their commitments in fulfilling customer needs and requirements to the best of their satisfaction is there key to success. All products are sensitized and webbed around customer needs with strong thrust on proven software processes and paramount importance to quality. They have engineered some of general Statutory Compliance and next generation IT needs. We do this by combining our knowledge of business domains with our expertise across various technologies. 16 East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD ORGANIZATION STRUCTURE OF RELYON Relyon have line Organization structure wherein all the positions in the Organization are in the direct line of authority from the top of the company down to the bottom. Each level in the Organization is subordinated to the one above it and there are no advisory specialists. This structure is effective as long as the company does not grow large. However with increased growth, the need for specialists will emerge. If these specialists are added, the structure would be called Line & Staff structure. These experts generally include researches, economists, legal advisers, industrial engineers and cost accountants. Organization Structure 17 East West Institute of Technology, Bangalore Direct marketing Chairman Board of Directors Admin Developing Testing Marketing Implementing HR Training Executives Executives Executives Executives Executives Trainers C S D KKG Chart 2.1.Organization Structure flow chart FUNCTIONAL DEPARTMENTS OF RELYON SOFTECH RELYON includes 151 hardcore professionals having different skill sets in various departments all over the India.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 0 5 10 15 20 25 30 System Admin Training Testing (WDC) Testing (DC) Marketing CSD Implementation Human Resources Developers (WDC) Developers (DC) RSD Admin Relyon operates from two facilities Corporate Office at Rajaji Nagar and Development Office at Mahalakshmi layout, Bangalore. DEVELOPMENT DEPARTMENT They help in developing new software’s and new features in the existing software. They work on depending up on the need of the product in the market and also production takes place depending up on the requirement. Software Development at RELYON is an engineering process, where, scientifically proven methods are applied consistently and systematically to deliver the best possible results and solutions in any given situation. 18 Chart 2.2 Human Resource in Different departments Head Software Engineer Executives Executives Executives Chart 2.3 Developing Department East West Institute of Technology, Bangalore Accounts
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 19 East West Institute of Technology, Bangalore SUPPORT DEPARTMENT RELYON Support team is having sensed pulse of the game and has made customer as the focal point of our business and have the following set of service offerings to enable us by delighting them.  Onsite support.  Online supports.  Education and training services.  Annual maintenance contract.  Product customization. TESTING DEPARTMENT Before implementing a product it goes in front of the testing department. Here our testing department peoples go through the product very deeply and the find out the problems if any, and transfer the information to the developing department. They in turn rectify the errors in the product and wait for the approval from the testing team. Once the approval is given then the product is commercialized. Our company employees work sincerely and with full involvement. The result is our customer’s number and our company market share. Head Testing Engineer Testing Executives Testing Executives Testing Executives Chart 2.4 Testing Department IMPLEMENTATION DEPARTMENT Company has well trained implementation department and employees of this team implement the product and train the customer how to use our product. Implementation peoples concentrate on payroll software only. ADMINISTRATION They help in maintaining the incomes and expenditures of the organization. They update the financial position of the organization wherever necessary.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 20 East West Institute of Technology, Bangalore MARKETING PROFILE OF RELYON Innovation is the lifeblood of industrial development and particularly so in the case of Information Technology, only innovated products get value in the market in that way our company innovated some software which will give permanent solution for taxation, payroll & client relationship etc. RELYON is selling taxation software all over the India. It is marketing those products through different type of channels. The below flow chart shows the marketing structure of the organization Marketing Structure of the Organization MARKETING HEAD Direct Marketing KKG E- Marketing E-marketing CSD Chart 2.5.Flowchart of the Marketing Team in Organization Direct Marketing Direct marketing department covers the entire region of Bangalore. The following flow chart shows the structure of direct marketing team. Marketing Manager Tele-callers Marketing executives Supporting Department Executives Team leaders Executives Executives Chart 2.6.Structure of Direct Marketing
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 21 East West Institute of Technology, Bangalore Kerala, Karnataka & Goa [KKG] The marketing department of KKG focus on parts of Kerala, Karnataka & Goa. The following flow chart shows the structure of KKG marketing team. MARKETING MANAGER Kerala Rest of Karnataka Goa Executives Executives Executives Chart 2.7.Structure of KKG Marketing Department TRAINING DEPARTMENT Relyon has efficient trainers who have a very good knowledge about the company and our products. They train the executives and other peoples in our organization. They conduct some training class for the customers to update the products at the same time they provide information about the new products. Similarly, they conduct training class for the executives also. Training department peoples often brush the executives about the product and the updation. HUMAN RESOURCE DEPARTMENT They help in recruiting people for different departments depending up on their qualification and capacity, and also in retention activities. FINANCE DEPARTMENT Finance is backbone of any organisation without which no organisation can undertake any activities concerning the organisation. It is a fascinating subject that deals with end result and these end results are measurable in terms of money. It is dynamic and changing. It deals with all the facts of Business-production, sales, purchasing, personnel etc. This has to be managed actually to yield long term results. Finance necessary is accumulated for the starting of
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD company and then they are at a later stage allocated to all the facts of business as mentioned above as per requirements specified in the financial policy. No organisation can function without capital. It in one of the most important resources of an organisation but these financial resources is scare thus each organization must make the optimum use of it. The finance department has an important and vital task of arranging funds and putting them to the best use so as to achieve maximum return and improve the profitability of the organisation. FUNCTIONS OF FINANCE DEPARTMENT:  Financial budgeting, timely allocation of funds.  Liaison with financial institution and other bodies. 22 East West Institute of Technology, Bangalore  Payment of wages and salaries.  Payments of bills.  Preparation of balance sheet and annual reports.  Financial projection for expansion and diversification. 2.3 VISION: To build an Organization of highly motivated individuals with freedom to think and innovate thereby provide outstanding value to customers, an enjoyable work environment and financial strength and sustained growth to all the stakeholders. MISSION:  To be one of the leading players in providing Accounting, Payroll and Taxation Products and Services in India.  To be the leading player in providing Tax Solutions to the Banking Industry  To be a preferred Employer by providing a congenial environment, freedom to think, innovate and lead.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD PRODUCT AND SERVICE PROFILE OF RELYONSOFTECH PRODUCT LINE DEVELOPMENT & SERVICES To enable the business to meet the challenges of nanosecond digital world, to empower business enterprises to be in tune with changing market trends, to power and energize corporate to fight business battles. RELYON constantly upgrade the offerings; re-engineer processes and develop new products for our existing as well as potential customers. A testimony to and secret of their ever expanding list of clients and coming back time and the existing customers is the following attributes of their products. Every company products starts with SARAL. Flexibility: Easy to deploy, integrate and adapt to the changing IT infrastructure of an organization. Scalability: Provide scope for up gradation to meet critical demands of business. Ability: Easy installations, user friendly and operate at incredible speed. Efficiency: World class in their performance and offer excellent price performance ratio. Trailblazers: Majority of their products are innovative, one of their kind and first to hit the markets in their respective areas. Software Development at RELYON is an engineering process, where, scientifically proven methods are consistently and systematically applied to deliver the best possible results in any given situation. 23 East West Institute of Technology, Bangalore RELYON PRODUCTS SARAL TAXOFFICE - Compliance Partner" is a complete Taxation software solution for a Chartered Accountant [CA] or any Tax Practitioner. It automates all the activities related to Tax Compliance and Back office. Saral Tax Office is a bundle of several software’s required for a CA, OFFICE SUITE with a simple one-screen interface "Saral Office". Saral Office includes the Back office automation software, such as, Client management, Billing and Receipts, Document Management, Library Management, Petty Cash and so on. Towards automating the Tax Compliances, it has the TAX SUITE with software’s on Income Tax, Tax
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD Deduction/Collection at Source [TDS/TCS], Balance Sheet, Return Generation, Audit Reports, Wealth Tax, Service Tax, Registrar of Companies [ROC] Returns and more. SARAL TDS - eTDS Software is a ple solution for the conversion of TDS/TCS data to the format specified by NSDL for Quarterly statements or Annual returns. TDS software not only generates the file for TDS/TCS returns, also assists you in generation of Paper TDS returns and TDS certificates. The Built-In FVU validates your data to be perfect for filing. That means no more messages "Errors Found during Validation". Saral TDS is given in 3 versions as given below in the chart: Professional Version: Professional version automates the preparation in TDS Returns. This version comes with basic needs towards TDS returns, such as, eTDS Returns for Salaries, Non-Salaries, TCS Returns, efilling , TDS/TCS Certificates and so on. 24 Fig 2.1: Snapshot of STO software SARAL TDS PROFESSIONAL INSTITUTIONAL CORPORATE Chart 2.8: Types of TDS Software East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 25 East West Institute of Technology, Bangalore Institutional Version: Institutional version enhances the automation in preparation of TDS Returns. This version comes with added features for eTDS returns, such as Tax Estimation for unlimited number of Employees, Versatile MIS Reports and so on. Corporate Version: Corporate version enhances the automation in preparation of TDS Returns. This version comes with added features for eTDS returns, such as Tax Estimation for upto 100 Employees, Versatile MIS Reports and so on. Features:  Preparation of Quarterly TDS and TCS  Electronic filing of TDS and TCS Returns, as per the file structure  In Built File Validation Utility to validate that, it should be accepted in TIN Facilitation center  Simple entry provision for Salary Details  User Friendly interface for entry of Deductions and Challans  Generation of TDS and TCS Certificates  Generation of Correction statement(s) for the regular/correction statements filed Fig 2.2: Snapshot of TDS Corporate software
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD SARAL ITR - Income Tax software is designed to fully automate the process of Tax Computation and Return preparation. It comes along with ITR software for Indian income tax returns [online filing].Income Tax Software comes with vast features for the varying requirements of Tax Practitioner.  Generate ITR forms directly from computation.  Tax Computation for all 9 Status of Assesses Such As, Individual, Firm, HUF, Company, Trust, AOP, BOI, Local Authority, and Artificial Judicial Person.  eReturns for all the forms specified by CBDT.  Statutory forms and Reports covering all requirements towards Income Tax Returns  Automation in each and every stage of calculation, with descriptive listings. SARAL VAT 100 - Saral VAT100 is a simple, fast and comprehensive Form 100 generating Software. Generates monthly return in latest Form100 along with new formats of other for and challans for VAT and computation of Tax. 26 Fig 2.3: Snapshot of ITR software East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD SARAL VAT info - Saral VAT Info unique by itself and is serving large number of Chartered Accountants, Tax Practitioners, Consultants, Corporate and Trade and Industry. Saral VAT Info is like a jewel in the crown, in your library, which makes your Profession brighter and remains as the best bet for information on Commercial Tax Laws. 27 Fig 2.4: Snapshot of VAT 100 software East West Institute of Technology, Bangalore Features:  Extensive coverage  Easy Accessibility: Acts sorted by Section Nos. and Subject, Rules sorted by Rule Nos. and Subject, Statutory Forms sorted by Form Nos. and Subject, Schedules Rates sorted by Schedule Nos. and item wise alphabetical listing.  Easy Navigation: Hyperlinks from Acts to Rules, Rules to Forms, Rates to Notifications, and from Notifications to Notifications.  Item wise linking of Notification: Notification linking with indication of effective Date for Value Added Tax, Karnataka Commercial Tax, Central Sales Tax and Entry Tax.  Superior search capability: Advanced multiple-search options ensure search facility with a simple keyword.  Ready-to-use Statutory Forms: Option to open forms in Word.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD  First minute functioning: simple-to-use structure eliminates the necessity for 28 East West Institute of Technology, Bangalore training.  All tax laws in Single CD: All major Commercial Tax Laws of Karnataka in single CD.  Notification Update: As and when the company receives the notifications from sources it will be intimated & updated via email.  Quarterly Update: Program update, once in 3 Months, updates the package with latest information. SARAL VAT xml - is the software for generating XML of Purchases, Sales and Statutory Forms Information. This software is designed to reduce the time required to fill in the data for generating XML as per Commercial Tax Department (CTD). Basic validation as per the CTD is provided. Once data is entered and validated in our software, XML would be created. Thereafter, the job would be just log on to user account and upload generated XML files, generate the Acknowledgement for filing purposes. Features:  Simple to understand as the software is Excel based  Import from any of the Accounting / ERP Solution through Excel.  Small setup / quickly deployable. Fig 2.5: Snapshot of VAT XML software
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 29 East West Institute of Technology, Bangalore SERVICE PROFILE Pulsating dynamic business environments, dizzying swirl of technology, heightened customer expectations, eternally accelerating competition and relentless pursuit of excellence have changed the rules of the game. The name of the game is "CUSTOMER RELATIONSHIP MANAGEMENT" through customer orientation. Products, Processes and Quality have just become ante in this new game and don’t provide competitive winning edge. The only thing that differentiates and distinguishes men from boys, winners from losers, leaders from followers is the supplementary service and support offerings. We at RELYON having sensed pulse of the game has made customer the focal point of our business and have the following set of service offerings to enable us delighting him.  Onsite support  Online supports  Education and training services  Annual maintenance contract  Product customization BRANCHES OF RELYON SOFTECH LTD  Bangalore  Chennai  Kolkata  Jaipur  Pune  Ahmadabad  Hyderabad  Delhi  Mumbai
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD BRANCHES OF RELYON SOFTECH LTD IN BANGALORE 30 Fig 2.6 snap shot of branch in Bangalore East West Institute of Technology, Bangalore INFRASTRUCTURE FACILITIES FACILITIES  2003-04  Small Office at West of Chord (WOC) road with 1250 sqft of space.  Latest Technology computers.  2004-05  Development centre is shifted to Mahalakshmi layout office.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 31 East West Institute of Technology, Bangalore  Fully furnished floor with 2500 sqft.  2005-06  As the requirement was increased, one more floor was furnished at Mahalakshmi layout branch to have more seats.  Total furnished area is 3250 sqft.  2006-07  Rented a small office place to start training for the staffs and channel Partners.  Total area is 4050 sqft.  2007-08  Marketing, Support, Administration, Logistics etc were shifted to corporate office.  Independent Software Development centres  Currently they have about 6450 sqft COMPETITIORS:  TALLY: Tally Solutions Pvt Ltd is a Bangalore-based software company that currently sells into more than 100 countries beyond its native India, including the United Kingdom, Bangladesh and the Middle East. It deals with TDS & Accounting software.  WINMAN Software Ltd: Winman software Ltd is a located at Mangalore and it is based software company. It deals with income tax, TDS and accounting software.  KDK Software: It is located at Rajasthan and it is software based company and it deals with income tax, TDS, XBRL software’s. 2.4 SWOT ANALYSIS Strengths:  Relyon main strength is its technical staff.  The Facilities and the working environment are so pleasing.  Multiple modules in the software’s. Weaknesses:  The increase in the number of competitors.  New MNC entrants in the field of Taxation software
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD  Lack of identity of the company in the market.  The Advertising strategy not so attractive. 32 East West Institute of Technology, Bangalore Opportunities:  Exploring part time work.  Wide untapped market available.  Increase in software development companies. Threats:  The mushrooming number of other software testing companies.  The increase in the number of competitors. 2.5 FUTURE GROWTH AND PROSPECTS GROWTH AND DEVELOPMENT OF RELYON SOFTECH To enable the business in meeting the challenges of nanosecond digital world, to empower business enterprises to be in tune with changing market trends, to power and energize corporate to fight business battles. RELYON constantly upgrade their offerings; re-engineer processes and develop new products for the existing as well as potential customers. A testimony to and secret of their ever expanding list of clientele and coming back in time and again of their existing customers is the following attributes of our products:  Flexibility: Easy to deploy, integrate and adapt to the changing IT infrastructure of an organization.  Scalability: Provide scope for up gradation to meet critical demands of business.  Agility: Easy installations, user friendly and operate at incredible speed.  Efficiency: World class in their performance and offer excellent price performance ratio.  Trailblazers: Majority of our products are innovative, one of their kind and first to hit the markets in their respective areas. TURNOVER OF RELYON SOFTECH The Company has witnessed a consistent growth over the last 5 years in terms of Annual turnover.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 33 TURNOVER IN PERCENTAGE 2008-09 2009-10 2010-11 2011-12 2012-13 TURNOVER IN PERCENTAGE Graph 2.1.TurnOver of the Company in Percentage East West Institute of Technology, Bangalore 1600 1400 1200 1000 800 600 400 200 0 HUMAN RESOURCES Human Resource is one of the key assets in Knowledge based sector like Software. There are twin challenges. One is attracting the right talent and the second is that of retaining them. Relyon has been successful in both. More importantly, Relyon has retained some of the key staff for over 3 years now. Those staffs are evenly spread over Development, Testing, Marketing & Sales, User support, HR, Accounts and Admin Departments.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 34 2008-09 2009-10 2010-11 2011-12 2012-13 Graph 2.2. Human Resource Growth in Percentage East West Institute of Technology, Bangalore 700 600 500 400 300 200 100 0 DEALER & DISTRIBUTERS Relyon operates through a mix of Direct Marketing and Channel of Distributors and Dealers. Relyon is represented in all parts of India. The growth over the period is highly encouraging. HR GROWTH IN PERCENTAGE HR GROWTH IN PERCENTAGE
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 35 NO. OF DEALERS IN PERCENTAGE Graph 2.3. No. of Dealers in Percentage NO. OF CUSTOMERS East West Institute of Technology, Bangalore 400 350 300 250 200 150 100 50 CUSTOMERS Relyon has been acquiring customers very consistently ever since inception of the Company. Graph 2.4: No of Customers 0 2008-09 2009-10 2010-11 2011-12 2012-13 NO. OF DEALERS IN PERCENTAGE 14000 12000 10000 8000 6000 4000 2000 0 2008-09 2009-10 2010-11 2011-12 2012-13 NO. OF CUSTOMERS
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 36 CHAPTER-3 THEORITICAL BACKGROUND OF STUDY East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 3.1 THEORITICAL BACKGROUND OF STUDY Market Survey Market Survey is concerned with determining existing or potential demand for goods and services or marketing research means according to the American marketing association defines marketing research as the systematic gathering, recording and analyzing of data about problems relating to the marketing of goods and services. It is the study of the spending characteristics and purchasing power of the consumer who are within your business's geographic area of operation; a research method for defining the market parameters of a business. Market surveys means speaking to members of your target audience members are an important part of market research. we can choose to hire a company to do it for us, but conducting the interviews yourself will most likely give you a much better idea of the needs of your target audience and will provide you with insights that you might not otherwise have gleaned. If we are going the do-it-yourself route, you'll probably want to act as the focus group moderator. As the moderator, we want to encourage an open-ended flow of conversation and be sure to solicit comments from quieter members, or we may end up getting all your information from the talkative participants only. Also, when conducting any type of survey, whether it's a focus group, a questionnaire or a phone survey, pay particular attention to customers who complain or give you negative feedback. we don't need to worry about the customers who love your product or service, but the ones who tell you where you're going wrong provide valuable information to help you improve. Market survey describes the gathering and analysis of market data, such as consumer preferences, trends in market prices and the presence of competing products. A market survey can describe any study that gathers information directly from consumers by asking them questions about their preferences, habits and experiences. The purpose of a market survey is to provide business managers with insight about their target customers, such as how much money they spend on certain types of products, whether they use competing products and the interest level for new products. 37 East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 38 East West Institute of Technology, Bangalore TYPES OF MARKET SURVEY Marketing survey focuses on understanding the customer, the company, and the competition. These relationships are at the core of marketing research.Companies must understand and respond to what customers want from their products. However, this relationship is always influenced by competitors and how their products are received by your market. Thus, you must clearly identify the customer, company, and competition before developing a research project. We have identified twenty different types of applied research surveys that are fundamental to marketing research. Each focuses on a different aspect of marketing research and your business activities, and provides deep insights into your company’s market position, your products, your competition, and the market in general. 1. Market Description Surveys: Determine the size and relative market share of the market. Provide key information about market growth, competitive positioning and share of market. 2. Market Profiling-Segmentation Surveys: Identify customers and non-customers, and why they are or are not your customers. Often a descriptive market segmentation and market share analysis. 3. Stage in the Purchase Process / Tracking Surveys: Where is the customer in the adoption process? Shows market Awareness – Knowledge – Intention – Trial – Purchase – Repurchase of the product. 4. Customer Intention – Purchase Analysis Surveys: Customer motivation to move from interest in the product to actual purchase. Key to understanding customer conversion, commitment and loyalty. 5. Customer Attitudes and Expectations Surveys: Does the product meet customer expectations? Attitudes formed about the product and/or company. Improve ads, customer conversion, commitment and loyalty. 6. Customer Trust – Loyalty – Retention Analysis Surveys: Depth of consumer attitudes formed about the product and/or company. Especially for high priced consumer goods with long decision and purchase processes.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 7. New Product Concept Analysis Surveys: Appropriate in the initial screening of new product concepts. Likes and dislikes, acceptability and likelihood of purchase are especially useful measures. 8. New Product Acceptance and Demand Surveys (Conjoint Analysis): Estimating demand for new product descriptions, graphics, or prototypes. Yields market share estimates for alternative concept configurations. 9. Habits and Uses Surveys: Understanding usage situations, including how, when and where the product is used. May include a real or virtual pantry audit. 10. Product Fulfillment Surveys: Evaluation of promised attribute and feature benefits (both tangible and intangible). Are expectations produced by advertising, packaging, and product appearance fulfilled? 11. Competitive Product and Market Positioning: “Best Practices” study of “How does the market view us relative to the competition?” Compares attributes and 39 East West Institute of Technology, Bangalore benefits of the product. 12. Brand Equity Surveys: What is psychological value that a brand holds in the marketplace? A composite of brand awareness, brand quality, brand associations and brand loyalty measures. 13. Advertising Value Identification and Analysis Surveys: Mapping the hierarchical attributes, benefits and values associated with and portrayed by an advertisement. Means-end analysis is often part of this type of study. 14. Advertising Media and Message Effectiveness Surveys: Identifies the impressions, feelings, and effectiveness in moving the respondent to a desired goal (increased awareness, product information, trial, repeat purchase). 15. Sales Force Effectiveness Surveys: Sales activities, performance and effectiveness in producing the desired and measurable effect or goal. Often measured in a 360 degree survey completed by the sales person, the client (evaluating the sales call) and the supervisor responsible for evaluating the sales person. 16. Sales Lead Generation Surveys:  Timely use and follow-up of sales leads,  Qualifying sales leads (thereby saving valuable sales force time) and  Providing more effective tracking of sales leads.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 17. Customer Service Surveys: Focus in detail on the actual customer service that was received, the process involved in receiving that service and the evaluation of the participants in the service process. 18. Customer Service Representative (CSR) Surveys— Attitudes, Burnout, Turnover and Retention: Customer Service Representatives hold attitudes that reflect on their job related activities including:  The allocation of time  Solutions to customer needs  How to improve their job  Best practices  How well internal departments help customers These surveys focus on reducing costs and increasing the quality of customer relationships. 19. Sales Forecasting and Market Tracking Surveys: Expert estimates of the market, judgmental bootstrapping (expert based rules describing how to use available secondary market information), conjoint analysis (estimation of consumer choice preferences), and self-reported intentions to make future purchases. 20. Prices Setting Surveys and Elasticity of Demand Analysis: Estimates of demand elasticity, optimal price points, and prices too low or too high. Estimates for different product-service segments, or usage situations. 40 East West Institute of Technology, Bangalore Advantages of Market Survey: Market surveys help businesses make better decisions about the types of products and services they offer, prices, how to deal with competitors and whether to enter or exit markets. Analysis of market surveys can prevent a business from making a costly mistake such as launching a new product or service that doesn't fulfill a need in the market, getting into a market that is saturated with competitors and setting prices too high or too low. Surveys can help entrepreneurs assess the viability of new ideas. 1. Wide Reach of Market Survey: The reach of the Internet is vast. A survey posted on a company website can garner thousands or even millions of responses. Keep the
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD survey short and reap the benefits of huge participation. With customers throughout the world, mailing a survey will result in inadequate results due to delays in mail service. In addition, a survey mailed overseas will need to be translated in to the language of your customer. A static survey on your website can be set to the language of your customer. 2. Get Honest Answers: Unlike face-to-face interviews with customers, a survey allows for honest responses. Perhaps the product breaks easily or has hard-to-follow instructions. By survey customers via a web or emailed survey, it’s easy to get the honest feedback that they need to win the customers back. An anonymous survey will generate feedback that while brutally honest, may be useful in the long run. While it may be hard to hear that customers rarely get the help they need from inbound customer support staff, you can make changes to improve the customers’ experience. 3. Cost Benefits: The survey may need to be outsourced to an outside marketing research firm. In-house staff will need to devote many work hours to collecting data. While the cost of creating a market survey may be high, the company will benefit from the results. The survey may generate sales leads. A customer who answers a survey may start to see that your business values customer feedback. A loyal customer will refer colleagues to businesses that care about not only the bottom line, but customer satisfaction. 4. Find Out About Your Competitors: Customers want a good deal. If you charge twice the going rate for a product that is the same quality as your competitor, we will lose customers. Find out what our customers are looking for in our products. Ask questions that shed light on why our products are not living up to expectations. Though it may be heard to hear, we want to know why customers choose not to buy a product or service. 5. Customer Retention: Customers want to know that a business appreciates their business. From the first click on the website to the time the customer orders products, the customer should be the number one priority of the business. Through a market survey, you will show customers that their patronage of the business is valued. 41 East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 42 East West Institute of Technology, Bangalore Disadvantages of Market survey: Some of the disadvantages of market survey: 1. Costly: Marketing research is a costly affair. It needs a lot of money to conduct various market research activities. Huge funds are required to pay salaries, prepare questionnaires, conduct surveys, prepare reports, etc. It is not a viable choice for small businesses. It is suitable only to large companies who can afford its cost. 2. Time consuming: Marketing research is a lengthy and time-consuming process. This process involves many important steps. All these steps are crucial and not even a single step can be neglected or avoided. In other words, there are no short-cuts in MR. Generally; it takes at least three to six months to solve a marketing problem. Therefore, it cannot be used in urgent or emergency situations. 3. Limited scope: Marketing research solves many business-related problems. However, it cannot solve all business problems. It cannot solve problems related to consumer behavior, income and expenditure relationship, etc. Thus, its scope is limited. 4. Limited practical value: Marketing research is only an academic exercise. It is mainly based on a hypothetical approach. It gives theoretical solutions. It does not give realistic solutions to real-life problems. Its solutions look good on paper but are harder to implement in a real sense. Thus, it has a limited practical value. 5. Can't predict consumer behavior: Marketing research collects data about consumer behavior. However, this data is not accurate because consumer behavior cannot be predicted. It keeps on changing according to the time and moods of the consumers. Consumer behavior is also very complex. It is influenced by social, religious, family, economic and other factors. It is very difficult to study these factors. 6. No accurate results: Marketing research is not a physical science like physics, chemistry, biology, etc. It is a social science. It studies consumer behavior and marketing environment. These factors are very unpredictable. Therefore, it does not give accurate results. It gives results, but it cannot give 100% correct results.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 43 East West Institute of Technology, Bangalore Market Survey Tools: 1. Questionnaire Design: The questionnaire can try to solicit feedback through open-ended or force-choice questions--or by some combination of the two types. The data collected will only be accurate if the questionnaire is clearly designed and properly conducted. 2. Written Survey: Written customer surveys appear to be the most common technique used when you hope to obtain simple or quantifiable information. A written survey will work best in gathering information about how customers rate a service or how many customers bought a certain product. Use a written customer service form when collecting information from a number of respondents from a dispersed customer base. The simplest kinds of questions are those that offer respondents a rating scale. Written surveys can be mailed periodically to a random sample of clients. 3. In-person Interview: In-depth exploration of customer preferences can be done through face-to-face interviews. According to “Go To Market Strategy” by Lawrence Friedman, face-to-face interviews are the best way to collect detailed customer feedback. Use this technique when you want to collect customer feedback in a geographically concentrated market and if your budget and resources permit such a labor-intensive survey method. 4. Employing Focus Group: Focus groups can be used to collect data about how customers see or think about tangible products. This is used to elicit reactions to a new product and see how product perceptions develop among customers. 5. Telephone Interviewing: Use telephone interviewing for more in-depth and confidential exploration of customer satisfaction and perception. One can ask almost any question over the phone. There are also software packages, such as the computer assisted telephone interviewing (CATI) software, allow you to record interviews to simplify management of the results. 6. Online Surveys: You can use Internet resources to collect ideas from customers who are Internet users. Make use of online surveys to collect information from a wide customer base and to monitor customer satisfaction.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 44 East West Institute of Technology, Bangalore Questionnaire: A questionnaire is a data collection instrument. It is a list of questions to be asked from the respondents. It also contains a suitable space where the answers can be recorded. The term questionnaire usually refers to a self-administered process whereby the respondent himself reads the question and records his answers without the assistance of an interviewer. This is a narrow definition of a questionnaire. A questionnaire is a method of obtaining specific information about a defined problem so that the data, after analysis and interpretation, results in a better appreciation of the problem. A questionnaire form, which has to be completed by an interviewer, is often referred as schedule. A questionnaire is in itself a measurement instrument that utilities various types of more specific measuring devices or scales. The success of collecting data either through the questionnaire method or through the schedule method depends largely on the proper design of the questionnaire. This is a specialized job and requires high degree of skill, experience, through knowledge of the research topic, ability to frame questions and a great deal of patience. There are no hard and fast rules in designing the questionnaire. Questionnaire Design: Adequate questionnaire designing is critical to the success of a survey. Inappropriate questions, incorrect ordering of questions, incorrect scaling or bad questionnaire format can make the survey valueless, as it may not accurately reflect the views and opinions of the participants, a useful method of checking a questionnaire and making sure it is accurately capturing the intended information is to pre-test among a smaller subset of target respondents. Questionnaire designing is discussed in nine steps. These steps may vary in importance inn individual projects, but each step must receive attention in each case. The steps designing questionnaire are as follows. 1. Determine What Information is Wanted: Questionnaires are prepared to meet research objectives and to motivate the respondents to cooperate with the survey. Therefore a specific statement of the information required for research purposes is
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD prepared and put in operation to motivate the respondents. The specific characteristics of the information are decided upon for the proposed analysis and objectives. 2. Determine the type of Questionnaire to use: After deciding the information required for the research, the next step is to decide the method of using the questionnaire or administering the questionnaire. The questionnaire can be used by personal interview, mail, telephone or all of them. The choice among these alternatives is largely determined by the type of information to be obtained and by the type of respondents from questionnaire at this point since the questions asked, the way in which they are asked and the sequence in which they are asked will all be influenced by this decision. The influence of the type of questionnaire on these factors will be brought out in the discussion. 3. Determine the content of Individual Questions: once the needed information is specified the method of communication is decided, researchers are ready to begin formulating the questionnaire. A first problem is to decide what include in individual questions. 4. Determine the type of Questions to use: once the content of individual questions is decided, researchers are ready to begin forming the actual questions; researchers are ready to begin forming actual questions. Before they can work on the wording of each question, they must decide on the type of question to use. Part of this decision is whether to use disguised or non disguised, structured or unstructured questioning. 5. Deciding on wording of Questions: In the preceding discussion of question content and types of questions, much has been said on question wording. A number of other important ideas however should be considered. Unfortunately, these ideas are more rules of thumb that have been developed from experience than they are underlying concept. 45  Define the issue  Should question be subjective or objective  Positive or negative statement  Use simple words  Avoid ambiguous questions  Avoid leading questions East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 6. Decide on question sequence: Once the wording of the individual questions has been determined, it is necessary to set them up in some order. The sequence can influence the results obtained. A questionnaire has three major sections: 46 East West Institute of Technology, Bangalore  Basic information  Classification information  Identification information 7. Decide on length of Questionnaire: How long the questionnaire/ schedule would be depends upon:  What the researcher wants to know and how many items are necessary so that the data will be credible.  On the type of study since self-administered questionnaires may be shorter than face to face interviews.  On the time which the researcher has available for the study  On the time the respondents can and will take  On the researcher’s resources For obtaining necessary and adequate data and credible answers, it is necessary that the equally important that time for filling up questionnaires or responding to interview schedule is generally limited to30-40 minutes in comparison to face-to-face interview which can continue for 45-60 minutes. Another consideration is the respondents. How long can they be available? Will they take interest in answering questions seriously? Young people may be available for less time than the middle-aged and the old people. 8. Decide on layout and reproduction: The physical layout and reproduction of the questionnaire influence the success of the interview. While planning the layout and reproduction three important points are considered. They are  Accepting of the questionnaire  Ease to control  Ease of handling 9. Check questions: Once the first draft of the questionnaire has been completed and before it is actually pre-tested, it is a good idea to get one expert’s opinion of the questionnaire. A person who is expert in research methodology can help to each methodological weakness in the instrument, such as faculty scales, inadequate
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD instruments etc. A person who is familiar with the topic of the questionnaire can help in assessing the face validity of the questions. Do they make sense; are they easy to understand, do they ask what they are supposed for asking. 10. Pre-test: Before the questionnaire is ready for the field, it needs to be pre-tested under field conditions. No researcher can prepare a questionnaire so good that improvements cannot be discovered in field test. Researchers have reported pre-testing, satisfied with some questionnaires. Once pre-test is as much, as most questionnaires get. 11. Revision and Final Draft: After each significant revision of the questionnaire, another pre-test should be run. When the last pre-test suggests no new revisions, the researcher is ready to print the actual questionnaires to be used in the survey. 47 changing and pre-testing again for as many as 25 times before they were East West Institute of Technology, Bangalore Advantages of Questionnaire Method: 1. Economical: Questionnaire is less expensive than other methods. Even the staffs required are not much as either the researcher himself may mail or one or two investigators may be appointed for hand-distributing the questionnaires. Giving salary and TA/DA to the investigators and the research officers increase the cost of the survey. In questionnaire the researcher has only to spend money on postage for sending the questionnaires and stamped envelopes for getting back the filled-in questionnaires or on follow-up letters. The mailed questionnaires thus cost less. 2. Time Saving: Since the respondents may be geographically dispersed and sample size may be very large, the time required for getting back the questionnaire may be little greater but usually less than that for face-to-face inter icwa. Thus, since all questionnaires are sent simultaneously and most of the replies are received in 10-15 days, schedules take months to complete. In simple terms, questionnaires produce quick results. 3. Accessibility to Diverse Respondents: When the respondents are separated geographically, they can be reached by correspondence which saves travel cost 4. Free from Bias: Since the interviewer is not physically present at interviewee’s place, he cannot influence his answers, either by prompting or by giving his own opinion or by misreading the question.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 5. Greater Anonymity: The absence of the interviewer assures anonymity which enables respondent to express free opinions and answers even to socially undesirable questions. The absence of the interviewer assures privacy to the respondents because of which they willingly give details of all events and incidents they would have not revealed otherwise. 6. Respondent’s Convenience: The respondent can fill-in the questionnaire leisurely at his convenience. He is not forced to complete all questions at one time. Since he fills up the questionnaire in spare time, he can answer easy questions first and take time for difficult questions. 7. Standard wordings: Each respondent is exposed to same words and therefore there is little difference in understanding questions. The comparison of answers is thus facilitated. 8. No Variation: Questionnaires are a stable, consistent and uniform measure, without 48 East West Institute of Technology, Bangalore variation. Disadvantages of Questionnaire Method: 1. Unwillingness of Respondent to Provide Information: Most interviews are obtained at the sufferance of the respondent. The respondent answers the telephone to be greeted by an interviewer with a list of questions. The interviewer is unknown to the respondent, and the subject of the proposed interview may be little or no interest. The interviewer counts on the natural politeness and good nature of most people to gain their cooperation. But in some cases potential respondents will refuse to take the time to be interviewed or will refuse to answer some specific questions. 2. Inability of Respondent to provide Information: Despite a willingness to cooperate, many persons are unable to give accurate information on questions which the marketing interviewer would like to ask. Most products are bought without any conscious array of reasons for and against. Questions on such motivations are, therefore, apt not to obtain complete information. In other cases, respondents cannot furnish information because they are unable to remember the facts desired or because they have never known the facts. 3. Influence of Questioning Process: A third major limitation of the questionnaire method is the effect of the questioning process on the results obtained. The situation
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD in which a person is questioned about routine actions is an artificial one at best. As a result, respondents may furnish reports quite different from the facts. 49  Questionnaire can be administered to respondents who have considerable East West Institute of Technology, Bangalore amount of education  Success and effectiveness mainly depends on the co-operation of the respondent.  In many situations researchers is not in a position to observe the gestures/expressions of the respondent.  Unintelligent answers or misinterpretation of any question by the respondent cannot be corrected.  Non-response rate is very high.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 50 CHAPTER-4 ANALYSIS AND INTERPRETATION East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 4.0 Analysis and interpretation of Data The actual problem of improving sales, it would be worthwhile to examine the Customer Support function of the company. Of the total 100 odd strength of the company about 75 form the service staff. It comprises of about 25 Technicians and 25 helpers. The rest form the supervisory functions, the support staff etc. On a typical day, there would be numerous complaints that would be logged in and a complaint number would be given against each complaint. This entire service force would be moved around from location to location by supervisors manning the phones. The complaints that are logged in before lunchtime would be attended the same day and the rest would be taken care the next day. In some Cases the service are given at the weekends. At one point of the operations HVAC prided to have a response time of 4 hours. However in the course of last few years, even this has had to struggle with growing business and shortage of experienced personnel and such other administrative difficulties. 51 East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 1. Which product are you using of Relyon saral product? 35 30 25 20 15 10 52 No Of Respondents Percentage(%) East West Institute of Technology, Bangalore Table: 4.1 Particular No Of Respondents Percentage (%) TDS Professional 8 16 TDS Corporate 11 22 TDS Institution 3 6 VAT100 15 30 VAT Info 3 6 Income Tax 4 8 Tax Office 6 12 Total 50 100 Analysis: In the above table, Here in this table customer prefer to buy TDS professional 16%, TDS Corporate 22%, TDS Institution 6%,vat 100 30% ,Vat info 6%,Income tax 8%,Taxoffice 12%. Graph: 4.1 5 0 Interpretation: In the above graph it is found that customer prefer to buy VAT 100 more as its percentage is 30%.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 2. From how many years you are using Relyon software product? 40 30 20 10 0 53 1 2 3 4 5 6 7 8 9 10 No of Respondents Percentage(%) East West Institute of Technology, Bangalore Table: 4.2 Years No of Respondents Percentage (%) 1 2 4 2 9 18 3 18 36 4 7 14 5 7 14 6 4 8 7 2 4 8 1 2 9 0 0 10 0 0 Total 50 100 Analysis: Here in this table, we chose 50 respondents in that 4% of customers using from one year, 18% from 2 year,36% from 3 year,14%from 4 year,14%from 5 year ,8%from 6years,4% from 7 years and 2% form 8 years Graph: 4.2 Interpretation: In the above graph it is found that most of the customers are using Relyon saral products from 3 years
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 3. Are you satisfied with the Relyon saral product? 70 60 50 40 30 20 10 0 54 Satisfied Dissatisfied Extremely dissatisfied No of Respondents Percentage(%) East West Institute of Technology, Bangalore Table: 4.3 Particulars No of Respondents Percentage (%) Extremely satisfied 32 64 Satisfied 17 34 Dissatisfied 1 2 Extremely dissatisfied 0 0 Total 50 100 Analysis: Out of 50 respondents of Relyon product, 64% of the respondents are extremely satisfied, 34% are satisfied, and 2% are dissatisfied. Graph: 4.3 Extremely satisfied Interpretation: In the above table it is shown that most of the customers are extremely satisfied with Relyon Saral Products.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 4. Are you aware of any competitors who provide taxation products? 100 90 80 70 60 50 40 30 20 10 0 55 Yes No East West Institute of Technology, Bangalore Table:4.4 Particulars No. of Respondents Percentage Yes 45 90 No 5 10 Total 50 100 Analysis: During the market survey with the sample of 50 customers of Relyon products we came to know that 90% of the customers are aware about the competitors of Relyon and rest are not aware about competitors. Graph: 4.4 Interpretation: During the market survey with sample of 50 respondents 90% of customers are aware of Competitors of taxation products. No. of Respondents Percentage
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 5. How is the operating process of Relyon Saral Products? 60 50 40 30 20 10 0 56 Very Easy Easy Difficult Very Difficult No. of Respondents Percentage East West Institute of Technology, Bangalore Table:4.5 Particular No. of Respondents Percentage Very Easy 24 48 Easy 24 48 Difficult 2 4 Very Difficult 0 0 Total 50 100 Analysis: Among 50 respondents of the survey 48%of customers feel very easy to operate the Relyon saral products, 48%feels easy to operate the product and rest 2% of customers feels difficult to operate the product. Graph: 4.5 Interpretation: In the graph it is clearly shows that customers are satisfied with operating process of Relyon product.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 6. Have you ever faced any difficulty to operate Relyon Saral Product? 70 60 50 40 30 20 10 0 57 Yes No No. of Respondents Percentage East West Institute of Technology, Bangalore Table:4.6 Particulars No. of Respondents Percentage Yes 19 38 No 31 62 Total 50 100 Analysis: Here in this table we choose 50 respondents who are the existing customers of Relyon Saral products out of that 38%of the customers feels difficult to operate the software and remaining 62% of the customers feels easy to operate the software. Graph: 4.6 Interpretation: It is clearly shown in the graph that most of the customers faced easy to operate Relyon Saral Products.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 7. How is the quality of Relyon Saral Product? 70 60 50 40 30 20 10 0 58 Good Very Good Excellent Satisfied No. of Respondents Percentage East West Institute of Technology, Bangalore Table:4.7 Particulars No. of Respondents Percentage Good 29 58 Very Good 15 30 Excellent 3 6 Satisfied 3 6 Total 50 100 Analysis: Here in this table out of 50 respondents 58% of respondents rated the quality of the Relyon as good, 30%of respondents rated it as very good, 6%of respondents rated it as excellent and other 6% of respondents rated it as satisfied. Graph: 4.7 Interpretation: It is clearly explained in the graph that quality of the Relyon Saral product is very good.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 8. How is the customer service of Relyon Saral Product? 80 70 60 50 40 30 20 10 0 59 Satisfied Dissatisfied Extremely Dissatisfied No. of Respondents Percentage East West Institute of Technology, Bangalore Table:4.8 Particulars No. of Respondents Percentage Extremely Satisfied 11 22 Satisfied 34 68 Dissatisfied 5 10 Extremely Dissatisfied 0 0 Total 50 100 Analysis: In the above table 50 customers were interviewed out of those 22% percent of the customers were extremely satisfied with the customer service provided by Relyon, 68%were satisfied rest of the 10%were dissatisfied with customer service provided by the company Graph: 4.8 Extremely Satisfied Interpretation: According to Market survey it is clearly explained in the graph that customer service of Relyon Saral Product is satisfied.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 9. How do you find company’s promotional activities? 80 70 60 50 40 30 20 10 0 60 Good Very Good Excellent Satisfied No. of Respondents Percentage East West Institute of Technology, Bangalore Table:4.9 Particulars No. of Respondents Percentage Good 35 70 Very Good 8 16 Excellent 7 14 Satisfied 0 0 Total 50 100 Analysis: According to the survey 70% of the respondents rated the promotion activities of the Relyon as good, 16% of the respondents rated as very good and 14%of the respondents rated as excellent. Graph: 4.9 Interpretation: According to market survey it is explained in graph that many customer’s opinion that promotional activities of the companies is good.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 10. How do you come to know about Relyon Software? 45 40 35 30 25 20 15 10 5 0 61 Advertisement Online Friends Seminars No. of Respondents Percentage East West Institute of Technology, Bangalore Table:4.10 Particulars No. of Respondents Percentage Advertisement 21 42 Online 16 32 Friends 10 20 Seminars 3 6 Total 50 100 Analysis: In the above 50 respondents, 42% of the customers came to know about product by advertisements, 32% of customers came to know about product through online, 20% through friends reference and rest 6% of customers came to know about product by seminars given by company. Graph: 4.10 Interpretation: In the graph it is clearly explained that most of the customers came to know about Relyon Software by advertisements.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 11. Compare to other competitor how is the pricing strategy of the 50 45 40 35 30 25 20 15 10 5 0 62 High Low Average No. of Respondents Percentage East West Institute of Technology, Bangalore product? Table:4.11 Particulars No. of Respondents Percentage High 22 44 Low 16 32 Average 12 24 Total 50 100 Analysis: Out of the 50 respondents 44%of the respondents feels the price of the Relyon products are higher than the competitors price, 32%of the respondents feels the price is lower than the competitors and the remaining 24% of the respondents feels the price is average to the competitors. Graph: 4.11 Interpretation In the above graph it is explained that pricing strategy of Relyon saral product is high than the competitors.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 12. What is the supply chain duration of the product? 100 90 80 70 60 50 40 30 20 10 0 63 24 hours Within 2 days Within 4 days Within a week No. of Respondents Percentage East West Institute of Technology, Bangalore Table:4.12 Particulars No. of Respondents Percentage 24 hours 44 88 Within 2 days 5 10 Within 4 days 1 2 Within a week 0 0 Total 50 100 Analysis: The above table shows that the supply of the Relyon is very effective because 88%of the respondent’s opinion is the company will supply the product to the customers within 24 hours of the order. Graph: 4.12 Interpretation In the graph it is clearly shown that supply chain duration of Relyon product is done within 24 hours.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 13. Does Company gives discount price for the products? 90 80 70 60 50 40 30 20 10 0 64 Yes No No. of Respondents Percentage East West Institute of Technology, Bangalore Table:4.13 Particulars No. of Respondents Percentage Yes 40 80 No 10 20 Total 50 100 Analysis: Relyon provides the products at the discount price for most of the existing customers. And it is clearly displayed in the above table in that 80% of the customers got the product at the discount price. Graph: 4.13 Interpretation It is clearly explained in the graph that 80% of customers purchased through discount price.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 14. Based on your awareness product/service is better or same or worse 70 60 50 40 30 20 10 0 65 Better Same Worse East West Institute of Technology, Bangalore than the other product? Table:4.14 Particular No. of Respondents Percentage Better 30 60 Same 20 40 Worse 0 0 Total 50 100 Analysis: There is a heavy competition in market for Relyon products. Among the 50 respondents 60% of the respondents feel that the awareness created by the Relyon product is better than the competitors. Graph: 4.14 Interpretation: It is clear that awareness created by customer is better. No. of Respondents Percentage
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 15. How did you contact the representatives? 66 Personal Telephone Mail Others East West Institute of Technology, Bangalore Table:4.15 Particulars No. of Representatives Percentage Personal 20 40 Telephone 20 40 Mail 10 20 Others 0 0 Total 50 100 Analysis: From the survey we came to know that the 40% of the customers are personally contacts the executives, 40% are contacts through telephone and the 20% are contacts through Emails. Graph: 4.15 45 40 35 30 25 20 15 10 5 0 Interpretation: It is clearly explained in the graph that 40% of customers contact the representatives by Personal and telephone. No. of Reresentatives Percentage
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 16. Based on your experience with the product would you recommend 80 70 60 50 40 30 20 10 0 67 Definitely I will not Probably I will not No. of Respondents Percentage East West Institute of Technology, Bangalore this product to yours friends? Table:4.16 Particulars No. of Respondents Percentage Definitely I will 35 70 Probably I will 10 20 Might or might not 4 8 Definitely I will not 0 0 Probably I will not 1 2 Total 50 100 Analysis: Out of 5o respondents of survey 70% of the customers are highly satisfied with products/services and they are going to refer to others and 20% of the customers probably they going to refer to others, 8% of customers may or may not be refer to others. Graph: 4.16 Definitely I will Interpretation: Probably I will Might or might not By market survey we came to know that most of customer will definitely recommend to the products to others.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 17. When you think of taxation software which company comes to your 90 80 70 60 50 40 30 20 10 0 68 Relyon Winman Tally Others East West Institute of Technology, Bangalore mind first? Table: 4.17 Particulars No. of Respondents Percentage Relyon 42 84 Winman 5 10 Tally 3 6 Others 0 0 Total 50 100 Analysis: Relyon products are fixed in the minds of customer with superior quality of products and services. And it very clear in the survey that in mind of 84% of respondents Relyon comes first when they think about taxation product. Chart: 4.17 Interpretation: The above table shows that most of customers prefers Relyon product when they think about the taxation product. No. of Respondents Percentage
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 69 CHAPTER-5 FINDINGS AND SUGGESTIONS East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD  Majority of the respondents said that the Service given in time  Majority of the respondents agree that the products that they delivered met all the requirements as per the initial specifications  Communication was considered by most of the respondents as a major 70 5.1 FINDINGS East West Institute of Technology, Bangalore  Problem in receiving the service  The problem are resolved within time  The respondents are satisfied with the service representative’s Friendly behaviour and patient in problem solving  The expansion plans of the existing clients are likely to be in this year only this is the great opportunity for the Relyon Softech Ltd  The respondents are very satisfied with time taken for solving the problem
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD Relyon Softech Ltd has achieved a lot in the field of software. Not much can be suggested in regard to the policies and principles it has. The good success rate is a clear reflection about the company’s strong rules, coupled with dedicated work put in by its employees. The following could help the company to become a pioneer in its field.  The company lacks publicity. A good portion of the top companies not quite aware of the existence of such a software company like Relyon Softech Ltd. The company could undertake promotional activities. They could make aware of the services they render to the companies. This could attract new customers which can be transformed into a long lasting relationship. This could be put into action by having print advertisements in papers like Times of India, Economic Times, Business Standard, etc.  The company acts as a mediatory for most of the companies. It gives people access to a wide variety of tax computing and deducting tools.  The company could tie up with some other testing tools companies and help the customers in end to end solutions. Tie up with software testing tool companies which help in testing on the target devices (embedded software) would open a huge market for Relyon Softech Ltd as the tools do not support testing on target devices.  The company should try to tie up with various product companies and get the testing job as consultancy which would help them earn more profit and also good will as the company has a professional testing team. The service quality at Precision needs to improve by leaps and bounds. For this to happen the management, staff and everybody else involved in the functioning of Relyon Softech Ltd needs to give in more than 100%. This can be done by adopting the following recommendations:  Employ an experienced and senior hand to manage the branch.  Employ experienced Salesmen with good compensation packages. It is noticed  That current package does not get the best of people and often de motivates the staff.  Introduce incentive based compensation packages that would drive the staff to do 71 5.2 SUGGESTION East West Institute of Technology, Bangalore better.  Improve the data base management of the prospective and exiting customers. The current system has become lax and requires improvements with constant alerts.
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD  An exhaustive exercise that involves approaching every single customer and address all grievances. It is advised to carry out all the corrective actions free of cost if required. This would go a long way in retaining the customer base  It is noted that the prices of Relyon Softech Ltd are expensive and the dealers are not in a position of offering huge discounts unlike its competitors. It is recommended that the management device a strategy which would offer competitive prices and there by attract more customers.  Suitable training should be given for the Sales team to improve the performance.  Make tie up with the Builders and Motivate the Employee. Commitments should be done in time or on time. 72 East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD The result of survey is sufficient enough to prove that the Relyon Softech has a very good reputation in the IT market. It has successful in maintaining the quality of the product and the services provided to the customers in order to maintain the higher competition efficiency, the company should maintain the same quality of the product and service. It is observed that the company is facing heavy competition from various softwares like tally and winman. Therefore it is more important to keep the competitive efficiency high. It also necessary that the higher authority to see the facts of the services provided to the customers for the benefit of the customers. In this present market, the customers have been described as the ‘king’. Thus it is very essential to the organisation should provide those product and services that satisfies the present needs of the customers. Since Relyon Softech is the one of the growing software company, and with high competition and also with some technical reasons the company could not reach its usual profit percentage. However the operating profit is lower. So, measures should be taken to improve the sales and turnover of the products. Hence the hypothesis has been proved by the survey that the customers of Relyon Softech are highly satisfied with product and services provided by the company 73 5.3 CONCLUSION: East West Institute of Technology, Bangalore
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 74 BIBLIOGRAPHY East West Institute of Technology, Bangalore BOOKS REFERRED: 1. Marketing Management- Philip Kotler , 12th Edition, Prentice Hall Of India Private Limited, New Delhi,2007 2. Research Methodology concepts and cases, Deepak Chawla & Neena Sordhi, Vikas Publishers,2014 3. Marketing Research – Malhotra, Naresh K-Fourth Edition, Pearsons Education Private Limited,New Delhi,2007 WEBSITE REFERRED: www.relyonsoftech.com www.google.com
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 75 ANNEXURE East West Institute of Technology, Bangalore QUESTINNARIE Name of the company: …………………………………………………….. 1. Which product are you using of Relyon Saral product? TDS Professional TDS Institutional TDS Corporate Income Tax VAT 100 Tax Office VAT info 2. From how many years you are using Relyon Saral product? 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 3. Are you satisfied with the Relyon Saral product? Extremely satisfied Satisfied Dissatisfied Extremely Dissatisfied 4. Are you aware of any competitor who provide taxation product? Yes No 5. How is the operating process of Relyon Saral product? Very Easy Easy Difficult Very Difficult 6. Have you ever faced any difficulty to operate Relyon Saral product? Yes No 7. How is the quality of Relyon Saral Product? Good Very Good Excellent Satisfied 8. How is the customer service of Relyon Saral product? Extremely satisfied Satisfied Dissatisfied Extremely Dissatisfied
  • MARKET SURVEY ON TAXATION PRODUCT OF RELYON SOFTECH LTD 9. How do find company’s promotional activities? 10. How do you come to know about Relyon software? Advertisement Online Friends Seminars 11. Compare to other competitors how the pricing strategy of the product? High Low Average 12. What is the supply chain duration of the product? 24 hours Within 2 days Within 4 days Within a week 13. Does Company give discounts price for the product? 76 Good Very Good Excellent Satisfied East West Institute of Technology, Bangalore Yes No 14. Based on your awareness product/service is better or same or worse than other product? Better Same Worse 15. How did you contact the representative? Personal Telephone Email Others 16. Based on your experience with product, would you recommend this product to your friend? Definitely I will Probably I will Might or might not Definitely I will not Probably I will not 17. When you think of taxation software which company comes to your mind first? Relyon Winman Tally Others