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Summer Internship report at Rosemount Shipping Co ,Sales funnel for one month and lead generation activities carried out during the Internship .

Summer Internship report at Rosemount Shipping Co ,Sales funnel for one month and lead generation activities carried out during the Internship .

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    Rossemount  sip report Rossemount sip report Document Transcript

    • A summer internship project report on “LEAD GENERATION TECHNIQUES IN ROSEMOUNT SHIPPING (INDIA) PRIVATE LIMITED” MASTER OF BUSINESS ADMINISTRATION By SUSAN KOSHY KANDATHIL Registration No.1220260 Under the guidance of (Prof. Rahul Gupta) Institute of Management U6n Christ University, Bangalore MBA 2012-2014
    • DECLARATION I, Susan Koshy Kandathil hereby declare that the project report titled “Lead Generation techniques in Rosemount Shipping (India) Private Limited” submitted for the partial fulfillment of the requirements for the award of the Master of Business Administration, is my original project work and has been carried out under the guidance of Prof. Rahul Gupta, professor of Marketing, Christ University Institute of Management and Mr. Mohan Mathew, Business Development Manager at Rosemount Shipping (India) Private Limited ,Bangalore . I also declare that this work has not been submitted for the reward of any degree, diploma, associate ship or fellowship or any other title in the university or any other university. Place: Bangalore Date: Susan Koshy Kandathil Register No: 1220260
    • CERTIFICATE This is to certify that this internship report on “Lead Generation Techniques in Rosemount Shipping (India) Private Limited” is a bonafide work of Ms. Susan Koshy Kandathil under my guidance and support. .This report is a part of Master of Business Administration course with specialization in Marketing stream. The content and the work done are genuine with respect to the information covered and thought expressed. Prof. Rahul Gupta Dr. Jeevananda S. Faculty Mentor Campus Coordinator Christ University Christ University Institute of Management Institute of Management Place: Bangalore Date:
    • CERTIFICATE FROM THE COMPANY
    • ACKNOWLEDGEMENT I am grateful to my corporate guide, Mr. Mohan Mathew, Business Development Manager, Rosemount Shipping (India) Private Limited, Bangalore for his continued guidance, support & invaluable encouragement. I am also grateful to my faculty Mentor, Prof. Rahul Gupta, Christ University Institute of Management, for his continued guidance, support & invaluable encouragement. I would also like to thank the faculty of Christ University Institute of Management, Bangalore and all my friends who were available for discussion & have supported me in this endeavor of mine. Susan Koshy Kandathil 1220260 Christ University Institute of Management, Bangalore.
    • TABLE OF CONTENTS DECLARATION ii CERTIFICATE iii ACKNOWLEDGEMENT iv TABLE OF CONTENTS v LIST OF TABLES vi LIST OF GRAPHS 1. INTRODUCTION 1. Lead Generation 2. Traditional vs. Online Lead Generation 3. Methods to Generate Leads 2. INDUSTRY PROFILE 1. Industry Overview 2. Trends in the Industry 3. Industry Analysis: Porter’s 5 Model 4. Key Opportunities 5. Key Challenged 6. Future Outlook 3. COMPANY PROFILE 1. About Rosemount Shipping (India) Private Ltd 2. Service Portfolio 3. Customers of Rosemount 4. Lead Cargos handled by Rosemount. 5. Sister Company – Blackstone Shipping Services UAE 4. SALES PROCESS AND METHEDOLOGY 1. Aim 2. Objectives 3. Problem Statement 4. Sales Process followed at Rosemount .
    • 5. ANALYSIS AND DATA INTERPRETATION 1. Steps involved in the process of Lead Generation 2. Analysis using Sales Funnel 3. Interpretation 6. FINDING, SUGGESTIONS AND CONCLUSION 1. Findings 2. Suggestions 3. Conclusion 7. BIBLOGRAPHY
    • CHAPTER I INTRODUCTION
    • INTRODUCTION 1.1 Lead Generation Lead Generation is the process of generating costumer inquiry into the products or services provided by a business. It involves collection of names and contact details of qualified prospects that are to be contacted by the sales force for generating orders. The different methods used to generate leads typically fall under the umbrella of advertising ,but at the same time there are also non paid methods of lead generation such as organic search engine results or by referrals obtained from existing customers . Consumer data is as good as gold dust to organizations thus obtaining accurate consumer data is very important in generating quality leads .Quality of leads generated can be determined by the natural inclination of the inquirer to take action towards purchase of the product or service. 1.2 Traditional Lead Generation Vs Online Lead Generation Traditional method of Lead Generation: The oldest method used to market any kind of product or service is through advertising through ad magazines, television, radio, newspaper or by distributing business card. Another traditional method of getting your company or your product know to a large group of people is by using promotional products .These products range from door hangers ,pens ,fridge magnets to free seminars which helps in attracting potential customers . Various offline marketing methods used to generate leads are direct mail, tele marketing and door to door marketing .Though the traditional methods help in increasing the sales it is expensive as well as time consuming and does not necessarily imply higher closing ratios for the company. Internet Lead Generation: The current trend in generating leads is through internet .There are numerous advantages of Internet lead generation which are as follows: Generating leads through the internet can increase your reach to a larger audience. This method of generating leads can result in lower cost of promotion almost by half than by what you spend for other lead generation methods.
    • There are pay-per-click ads, drip-marketing services, email campaigns, and of course, purchasing online leads. Companies have to be certain before they put in their entire budget on one specific generating means as the decision could make or break your business .Though there are many new tech savvy methods of lead generation companies still make use the traditional method to a certain extent . 1.3 METHODS TO GENERATE LEADS Fig 1.1 Lead generation methods Direct Mail The quickest way to grow your business is to target the best customers with a highly focused approach by sending direct mails to the best buyers .This is a tried and tested method for successful lead generation by many big companies .By following this method many companies has doubled their revenues in just one to one and a half years. This strategy is one of the most effective and low cost methods to generate leads and
    • grow your business fast. Best buyers can be categorized as those buyers who will purchase almost everything that you offer .In short they are your dream clients .Thus it is very important for companies to identify and choose a target group that will respond to you at least once a month. Majority of the people that are approaches by businesses may throw the letter or ignore it the first few times but it is the companies‟ job to increase their customers as well as maintain relationships with them. The first step to be taken is to send an introductory letter to the identified buyer and making an offer they cannot refuse .The second key is to keep in touch with the prospect by making them offers like free consultation or free offers of some kind .Over the period of one year, the company should contact the prospect at least once every month as this will generate interest from the prospect in learning more about the products and services offered by the company. Purchase leads from lead brokers and lead companies Companies can get hot “ready to buy” leads by purchasing them from lead brokers and lead companies .These companies concentrate solely to generate leads and sell them to companies who wants to create a database of potential customers .It is said that purchasing leads can help business save a lot of time rather than generating their own leads ,it is also said to provide companies with accurate and updated information .Adding the strategy of buying leads can increase business by 50 – 75% . Purchase leads from various Online Search Engines The most recommended online strategies for generating leads is by getting targeted consumers to view your Website with the Pay per Click Search Engines .All companies should make PPCSEs an integral part of their This feature allows companies to tap into the online searches taking place which is related to their industry. PPCSEs puts the companies site directly before the consumers who are actively searching for what you are selling .The company is given the option of deciding their budget , set the price they are ready to pay for every sales lead and they also have the option of paying only when the customers click through to the site .This method of lead generation guarantees to get “hot prospects” as you are paying only for performance i.e. website visitors and pre qualified clicks .Currently the best PPCSEs are Google Adwords and Overture . Advertisements Studies have shown that half of all purchase is triggered by advertisements. It is an excellent tactic to create leads that a business can use .It is also an important way in which the brand name can be built by
    • getting publicity ,recognition ,word of mouth etc along with numerous other benefits . In order to get high return on the investment made advertisement campaigns should meet the following parameters: a. Ensure that advertisements are placed in journals and magazines which are most read by your target market. b. It is essential for business to be proactive .This requires an effective follow up system in place in order to ensure maximum return from the money spent on advertising . c. Using an eye caching headline that highlights the benefits offered by the product or service. d. Make an offer beyond the customers‟ expectations and ensuring value for money. Referrals Customers generated through referrals are most profitable and loyal source of new business that are generated by leads .The general tendency of such customers are the purchase faster ,buy huge quantities ,bargain less and also provide referrals of other interested consumers . It is important for a company to set up a proactive referral system as part of its marketing activities .In order to set up a fool proof referral system the company should consider the following: a. Providing customers with incentives(gifts or free services ) for every referral made by him b. Using Give a Gift referral system where your clients are invited to give a free sample of your products to other potential consumers as a gift .Referral gift certificate is tool used for such systems. c. Attach questionnaires while sending invoices to customers in order to understand how to improvise the company‟s products or services .Also ask the customers to add referrals in this survey. d. Create relationships with non –competitive companies who have served your target market and have them automatically refer you to their customer database. Telemarketing: It is the most interactive marketing medium available. Telemarketing allows you to answer your prospects questions, address their concerns, and overcome their objections. Telemarketing is the only marketing medium that allows you to adjust your strategy midstream and make any changes at any time necessary to increase results. With telemarketing, you can change both your offer and audience with just one phone call.
    • a. Telemarketing provides you with immediate feedback & valuable information that can be quickly analyzed: Telemarketing consistently outperforms all other forms of marketing and is the most powerful, cost-effective marketing vehicle available today. Telemarketing is a powerful, multi- billion dollar marketing vehicle. It should be part of your marketing plan. b. Telemarketing is the only form of advertising that requires an immediate response: c. Newspaper and magazine ads, radio promotions, billboards or direct mail demand little or no immediate attention. They can all be ignored. Not telemarketing. When the phone rings, the natural response is to answer it. Rarely do you just ignore it. d. Telemarketing provides you with a captive audience the minute the phone is answered. With telemarketing, you can instantly establish a conversation. It is much easier to get your message across when you engage in a dialogue and questions can be answered. Two-way communication using telemarketing is very powerful, and very productive. e. Telemarketing provides you with endless opportunities to increase and better your business: Telemarketing is the ultimate marketing tool. Some popular outbound telemarketing applications include appointment setting, lead generation, surveys, market research, list cleaning, database update, seminar registration, fund raising, phone sales, and client reactivation... just to name a few. Inbound telemarketing allows you to respond and sell to your clients and prospects 24 hours a day, 7 days a week and 365 days a year. f. Telemarketing also has powerful inbound applications. Inbound telemarketing is perfect for order taking, customer service, any type of answering service, after hours/overflow calls, taking credit card orders, voice mail service, dealer locator service, seminar registration, reservation desk, inquiry service, and direct immediate response to print ads and virtually any form of advertisement. Thus lead generation could work for just about any business, but most industries using this type of marketing include insurance agencies, education institutions, office suppliers, and furniture stores. Trends show that lead generation will become even more popular in the future, especially for service oriented businesses. Lead generation is a win-win for both the buyer and seller. A buyer is able to request information from several businesses that offer the product or service that they are looking for and the seller is given the opportunity to pitch their product or service to someone who has given them permission. Conversion rates on leads that you receive often have a higher conversion success rate than cold contacts because the prospect is pre- qualified, before you ever receive the lead.
    • Chapter 2 Industry Profile
    • 2.1 INDUSTRY OVERVIEW The logistics industry in India has become an area of importance. The main reason for this is due to years of high growth in the Indian economy there has been a rise in the freight traffic moved. The Logistics industry includes five broad segments – ocean freight, rail freight, air freight, trucking and third party Logistics (3PL) services . The current size of the Indian Logistics Industry is estimated around $225bn and is expected to reach around $350bn by 2015.This increase in volume of traffic has provided for opportunities in all facets of logistics including transportation, warehousing, freight forwarding, express cargo delivery, container services, shipping services etc. This growth also implies that there is a higher demand being placed on this sector to provide solution to support future growth. It is also estimated that the industry employs over 45 million people and is growing at the rate of 15% with sub-sector growing at even 30-40% per annum. Changing government policies on taxation and regulation of service providers is going to play an important role in this process of growth. This industry has attracted huge investments due to rise in logistics demand driven by industries like retail, automobile, pharma etc. Fig 1.2 Growth drivers of the Industry Growth Drivers Streamlining Indirect Tax structure Investment in transportation Infra Increased demand of 3PL services Insusion of qualified work force Recognition of logistics mgt as strategic tool Globalization of manufacturing sectors
    • There is significant rise in the demand for third party logistics providers in the sector as well, which is led by TVS Logistics today and has few capable competitors. The sector provides lucrative business opportunities today for new players in terms of margins, low-entry barriers and high growth prospects .Proper infrastructure support by the government and competition from the unorganized sector are major challenges in the growth of the logistics sector. 70% of the total domestic product is transported through the road network and 15% through the rail network. Domestic companies are willing to expand their efficiency to meet rising demand globally according to a recent study. Logistics costs in India are estimated to be approximately 13% of GDP which is considerably high when compared to the corresponding figures for other major economies of the world .Higher logistics costs are mainly due to poor infrastructure facilities in the country. The higher logistics cost represents higher products/services cost in the international market. The country‟s organized logistics market represents 6% of the total market. The three major contributors for the growth of logistics industry are: emergence of organized retail, increase in foreign trade and India becoming a global manufacturing hub. Due to this huge growth potential the logistics sector in India is viewed as one of the most attractive in the world. Despite holding promise the logistics sector in India remains mired in several complexities which have the potential of holding it back. These include significant inefficiencies in transportation, poor condition of storage infrastructure, a complex tax structure, low rate of technology adoption and poor skills of the logistics professionals. 2.2TRENDS IN THE INDUSTRY The major trends in the Indian logistics industry are highlighted below: 3PL Services: Logistics services like transportation, warehousing, cross docking, inventory management, packing and freight forwarding are all part of third party logistics services. Companies in India currently outsource an estimated 52% of logistics, and 3PL represents only 1% of logistics cost. As of now, the 3PL activity is limited to only few industries like automotive, IT hardware, telecom and infrastructure equipment. Global Players: The industry is becoming more competent with entry of global giants like Gazeley Broekman (Wal-Mart‟s Logistics partner), CH Robinson and Kerry logistics and large Indian Corporate houses like Tata, Reliance and Bharti group. A series of mergers and acquisitions like DHL acquiring Blue Dart, TNT acquiring Speed age Express Cargo Service and
    • FedEx buying over Pafex, are also leading to consolidation of the industry at various levels and segments. Express Logistics: Organized players have a monopoly over the express logistics industry. 65% of express business is in the hands of organized players, while semi-organized and unorganized players account for 25% and then the remaining 10% of the market by EMS Speed Post. On the domestic front, unorganized players hold 41% of the market share based on price advantage and organized players account for 45% and EMS Speed Post the remaining 14%. Warehouses: Warehouses have become key growth drivers in the logistics industry. Warehousing does not only provide conventional storing services, but also provides value-added services like consolidation and breaking up of cargo, packaging, labeling, bar coding and reverse logistics etc. Warehousing and related activities account for approximately 20% of total logistics industry and as per KPMG.Our view is that warehousing will see a lot of investment in the coming years. Logistics Parks: About 110 logistics parks spread over approximately 3,500 acres at an estimated cost of $1bn are expected to be operational and an estimated 45mn sq.ft of warehousing space with an investment of $500mn is expected to be developed by various logistics suppliers in the coming year. Majority of these logistics parks are planned in close proximity to state capitals. However, availability of large land parcels at relatively low cost, connectivity to multiple markets across states and industrial clusters has led to the emergence of some Tier 2 and Tier 3 cities as favored destinations for the development of logistics parks and warehouses. To reduce the transportation cost and for quicker movement of cargo, Multimodal transport operation (MTO) is introduced which helps exporters with less documentation (for instance single document for all modes of transport). 2.3 INDUSTRY ANALYSIS: PORTER’s 5 MODEL Threat of New Entrants: HIGH No entry barrier in terms of requirement for licensing needs and industry is vulnerable to easy scale-up and intense competition. Bargaining power of supplier: LOW Government influence on fuel prices makes it difficult for players to predict, control and pass through fuel costs to customers. Bargaining Power of Buyers: MODERATELY HIGH
    • A few large users of the industry and companies (e.g. the automobile industry) are able to significantly squeeze transporters Threat of Substitute products: HIGH The industry is highly customer oriented with multiple vendor options available to customers. Rivalry Among Competition: HIGH Lack of differentiation in services leads to commoditization and further price erosion. 2.4Key Opportunities Service Capital Requirement Entry Barrier Customer Needs Drivers Opportunities Road Freight High Low Low service cost, non time sensitive Demand for high quality infrastructure • Consolidation is expected in the industry – this will lead to the emergence of pan-India players with bigger size and better profitability, growth in Cold Chain Warehousing Logistics Express Capital Intensive High Cost efficiency, high time sensitivity • High growth in document shipments • Growth in highvalue products such as mobile phones, network hardware and branded drugs • The Express industry is expected to grow at a CAGR of 17%
    • Container Haulage Capital Intensive High entry barrier in road segment Scheduled services and strong ICD network • Government approval for privatization of rail container operation • Establishment of dedicated freight corridor • Approval to private players for rail operation and rising demand from the railways – to boost demand for wagon manufacturers CFS The CFS business is characterized by high capital intensity. The requirements are dependent on facilitating infrastructure development such as railroads etc Medium Quick turnaround time • Standardization of containers • Growing trade volume • CFS/ICDs that run their own container terminal, freight forwarder or shipping line are likely to gain from the surge in ocean freight MTO Less Capital intensive Low Network strengths and service quality • Growing international trade • Expanding domestic demand for efficient supply chain • Growing need for door to door service and integrated • Being less capital intensive and with neutral working capital requirement, the MTO business gives higher return on equity and return on capital employed
    • services Bulk Liquid Capital Intensive High Port Connectivity and integrated service offerings • Booming oil demand, and rising trade flows • Less competition in the market 2.5 Key Challenges Geographical Coverage Insufficient Insufficient distribution channels/infrastructure bottlenecks restrict the scope to reach consumers of products nationwide Over-burdened ports India has a long coastline. However, the country‟s port system isn‟t utilized properly. 70% of the seaborne trade is managed by 2-3 of its 12 major ports. Remaining 185 minor ports in the country are largely underutilized Warehousing investment is low The infrastructure including roads, airports and seaports are preliminary the main target areas of investment. However, warehousing, a facilitator for the agricultural sector, has attracted lower investment that reduced its pace of growth in comparison to rising farm output Technology Usage Technology usage is still very low in India, which restricts the scope of increasing efficiency and productivity Cost/Quality of Service According to industry analysts, logistics costs in India are among the world‟s highest and outside of the metros and
    • a few cities, the delivery time is very uncertain Logistics industry is still not looked at as the industry of choice for young graduates thereby making hiring of quality professional manpower challenging. On the ground level too there are challenges. A recent study has found that a variety of skills are required in the sector. These include technology skills, driving skills including safety procedures, industry understanding and multi operations skills. The present state of affairs is illustrated by example of truck driver in India, who is a critical point of contact for the logistics company with its customers where the truck drivers today find it difficult to accurately record delivery records, understand delivery documents, negotiate for return business, handle queries etc. 2.6Future Outlook The growth in the Indian economy in coming decade is likely to be driven by the increased activity in the manufacturing and retail sectors. To enable these sectors to contribute effectively to India‟s growth the logistics sector will have to step up to provide value-enabling solutions for these sectors. This would require action on three fronts: • Creating an environment for graduating the Indian logistics market to provide value propositions in logistics solutions • Increasing the capability of the Indian Logistics Industry to provide such solutions • Requiring Government and other regulatory mechanisms in the country to provide an enabling environment for value propositions in logistics services can take their business forward and make them competitive. However old habits die hard. Therefore we still see numerous instances where little premium is put on service delivery, quality and transparency in logistics services. Demand for logistics solutions still gets conditioned by an undemanding, quality-neutral client used to a non-standard product and service deliveries. Large logistics departments have come up within companies to manage this „chaos‟ and lowest price frequently becomes the watch word for many companies rather than quality of
    • the solution provided.For instance, dust-proofing at a storage place still does not command the kind of premium in India that it should, and as a result, the logistics service provider does not invest in such provisions. After-sales service gets lost in a retail logistics maze, and the client finds local suboptimal solutions. This is routine today. Some change in certain specific product ranges do seem to be happening, but at a very high price. Once such value additions begin to get recognized and priced in value terms, the logic of the Logistics industry will undergo a sea-change. The future Of the Indian Logistics Industry lies ultimately in value propositions for the customer. Value solutions can be engineered only if the complex strands of supply-chain mesh together seamlessly. These solutions are expected to command a premium but also come at a cost. The cost –conscious Indian Market first has to be made to appreciate the value of premium services. In a supply driven market, supply chain solutions need to unlock the cost -saving aspect of efficient logistics services first. This would result a reduction in cost down the line, which can only happen when most of the deficiencies mentioned above are removed. Logistics companies can leverage further economies of scale when operations are expanded. This may require industries to collaborate with logistic service providers to nurture their businesses, possibly in a way the automobile industry in India nurtured the auto- component companies. The future is bright for the logistics industry in India- the expectation is that a tipping point for the industry will soon be reached which will propel it to greater heights.
    • CHAPTER 3 Company Profile
    • 3.1ABOUT ROSEMOUNT SHIPPING (INDIA) PRIVATE LIMITED From Its beginning in 1998 as a Customs Broking company, the Rosemount group has surged ahead to become a leading logistics group specializing in shipping and allied logistics, supply chain management and transport services. The company‟s prominent standing on the international logistics map is evident in the reach of its services. It operates at all major ports and inland depots in India, in addition to a global network of specialized associates. As providers of one stop integrated logistics solutions, offering consistently high quality service is of paramount importance. This belief is underscored in its fervent upgrading of facilities and equipments, investment in latest technology and optimizing their employees potential through training and development. Being an award winning logistics group, the management attributes their current success to its business philosophy, which rests on a set of core values focusing on personal integrity and responsibility towards customers, employees, shareholders and the community. The Company has offices at all major ports and inland container depots in India. It is an ISO 9001:2008 certified company having 900 plus customers in India. There are over a 100 professionals working with Rosemount at its various offices in India. This will help their customers enjoy reliable, timely and cost effective logistics partnership. Rosemount puts at the customer‟s disposal an extended organizational infrastructure with deep knowledge and experience in logistics. Taking into account cost, risk, time, legal, finance, fiscal, documentation, administration and other factors. Rosemount customers can enjoy cutting-edge solutions that will assist clients in building decisive competitiveness in the global market. Being a leading player in the global logistics market, Rosemount knows almost every player, every commodity and service in and out in the field. They share this competency as well as their goodwill, so that their clients continuously benefit. It has a global reach to, European Union, United States of America, South America, Russia – CIS, Far East, China, Japan, Australia and Middle East. Mission Rosemount signals to be the leader in the logistics industry, utilizing new technologies and emphasizing human resource development to provide the highest level of service and value to our customer‟s competencies and develop the most profitable logistics solution for customers.
    • Core Values I. Responsibility to our customers: To develop and provide services which offer value, in terms of price, cost and quality, supported by the requisite professional, technological and commercial expertise. II. Responsibility to our employees: To promote and encourage good and safe conditions of work, good and competitive terms and conditions of service, the mental and physical development and best use of human skills and talents, equal opportunity employment and the involvement of employees in planning and direction of their work. III. Responsibility to the community: To conduct business as a responsible member of the community, observing applicable laws of the country in which we operate and giving due regard to safety and environment standards. IV. Responsibility to Shareholders: To protect shareholders interest and provide a fair and reasonable return. V. Personal Integrity: To exercise honesty, loyalty and integrity in all aspects of our business and avoid conflict between our personal and official activities in the conduct of our business. CORE VALUES Responsiblity to Customers Responsiblity to Employees Responsiblity to Shareholders Responsiblity to the community Personal Integrity
    • The Rosemount Core team: 3.2Service portfolio: SOC Container Operation to Russia, CIS and Central Asia :Rosemount leases out containers to customers which is later disposed or sold for scrap at the destination port Customs Broking: A customs brokerage firm is responsible for knowing all of the rules and regulations regarding the transfer of goods entering or leaving the borders of different countries and ensuring that they are followed, in order to streamline the process of shipping goods as much as possible for the individual or organization. In effect, customs brokers alleviate the stress of dealing with customs officials and learning shipping regulations so that their clients can spend more time on what they are good at – managing their core business. Customs brokers serve in effect as translators, communicating with agencies and government Logistics Consultancy: By providing consultancy service Rosemount helps a business to adjust to new technologies and trends, to cut waste and cost, and improve communications among different departments and with clients. By improving operational processes, logistics consulting can help managers to cut back on waste, which can also save money. A consultant might analyze A.T.GEORGE CHAIRMAN &MD DAVID RODRIGUES VICE PRESIDENT INDIA OPERATIONS JACOB JOSEPH GENERAL MANAGER SOUTHERN REGION K.MURALIKRISHNAN GENERAL MANAGER NORTHERN REGION GEORGE JOB GENERAL MANAGER EASTERN REGION S.RAMESH BABU VICE PRESIDENT INDIA MANJUNATH BHAT MANAGER FINANCE
    • then restructure models so that workers and pieces of equipment are put in positions where they can become more valuable to a company. Another benefit of logistics consulting is improved communications. They observe business processes and locate areas where principles and methods are not clearly conveyed or properly followed. The introduction of networks and databases into a business process may be an important part of a logistical improvement. Improved communications with customers is another potential advantage of availing the logistics consulting service provided by the company. Warehousing and Distribution Network: Rosemount‟s warehouse is registered under the name Marigold Logistics Pvt Ltd. Incorporated as a private limited company in the year 2010.The salient features of the CFS are as follows: 1. Six acres of bonded area for handling loaded containers. 2. Capacity of 30000 Teus per annum. 3.13 Acres of area for vehicle parking/EY Container Park /Repair workshop for equipment and containers. 4.8000 sq ft of administration building to house service providers and customers with canteen and other accommodation facilities. 5.22500 sq ft of warehouse to accommodate 80 Teus of export and import cargo 6. Two reachstaker, two container handler and four forklifts for cargo handling. 7. Gate complex, firefighting etc for safety and security of cargo. Services provided by Marigold are as follows: I. Handling of containers arriving by road and rail. II. Handling of cargo with forklifts and labor. III. Survey of container and cargo if required. IV. Repair of containers if required. V. Door delivery of containers and cargo VI. Empty container parking VII. Trailer and lorry parking yard. VIII. Complete security of cargo and fully insured. IX. Adequate office space for customers. X. Electronic weighing facility.
    • Commercial, Consular and Legal Documentation: On behalf of the customer Rosemount carry out documentation necessary for the shipment such as- 1. Commercial customs consular/legalised invoice. The Buyer should endeavour to send a special form of invoice required by him 2. Bill of Lading (usually "clean on board") and the number of copies required by him along with the bill of exchange and non-negotiable copies to be sent to the buyer. 3. Certificate of origin 4. Packing list - number of copies required 5. Marine Insurance Policy whether in FOB or CIF contract is to be effected by the exporter on behalf of the importer. The name of the company from which the insurance contract is to be obtained should also be mentioned. International Freight Forwarding (European Union, USA, Far East, Japan, China and Middle East) : Rosemount takes orders for International freight forwarding by both shipment as well as air cargo. For the shipment of good the key routings are: Supply Chain-Features of Rosemount Storage Order Picking Labeling Value Added Storage Inventory Customs Service Loading Removal from Storage Dispatching
    • Exhibition Logistics: This is another important service provided by Rosemount Shipping Company where it ensure the movement of exhibits and other ancillary products from exhibitors to exhibition saloon and then return to the exhibitors or exhibit purchasers, which is one of very important task of exhibitions. 3.3CUSTOMERS OF ROSEMOUNT 3.4 LEAD CARGOES HANDLED BY THE COMPANY 2. India – St.Petersburg – Russia 4. India – Xing yang – Dostyk – Almaty 3. India – Iran – Astrakhan – Moscow 4. India – Xing yang – Dostyk – Almaty - Central Asia 6. India – Europe 7. India – USA 8. India – China 9. India – Middle East
    • 3.5 SISTER COMPANY -BLAKSTONE SHIPPING SERVICES L.L.C, DUBAI, UAE Automobiles Pharmaceutica ls Coffee Readymade Garments Coir Products Refractors Condoms Tea Grinding Media Tobacco Instant Coffee Vinyl Flooring Machinery Electrical Goods Packing Material PVC Films PP Woven Processed Food Stuff Aluminum Tubes Marble/Granit e Ball Pens Project Cargo Non Hazardous Chemicals Steel Coil/Pipe Picture Tubes Gherkins Glass Bottles Spices Mango Pulp Cashews Rice Construction material Oleo Resin Furniture
    • Blakstone, a privately owned international Freight Forwarding Company, having its Corporate Office based at Dubai, United Arab Emirates. Blakstone management has put in more than 30 years of experience in shipping and allied logistics services. It has the ability to handle any type of cargoes at ease with total commitment and perfection. This makes the difference between Blakstone and other logistics providers. Blakstone offers complete logistics services to worldwide destinations. Our global network of specialised association is with reliable, strong and proven market leaders who offer excellent services to our selective markets. Today, Blakstone is offering complete transportation and logistics package by road, sea, air and rail worldwide. Capabilities: Focusing on sea freight logistics the company is growing at a steady phase and becoming a major player to worldwide destinations .It is committed in providing state of the art freight forwarding and logistics services while retaining principles such as reliability and innovation. The company is geared up to handle any complex shipments by sea,air,road and rail in conjunction with their global partners.
    • CHAPTER4 Sales process AND METHEDOLOGY
    • 4.1 Aim To generate leads for Rosemount Shipping Co by telemarketing to exporters and importers. 4.2 Objectives To understand the various logistics services provided by Rosemount Shipping Company. To identify sources to generate leads. To obtain a minimum of two face to face appointments per day with various exporters and importers from Bangalore. To conduct marketing activities to reach out to prospective customer and retain existing customers. To create general awareness about the services provided by Rosemount Shipping Co To upgrade the customer database as per the information available online. 4.3 Problem statement At Rosemount, many face-to-face meetings over a long period of time are required with a single customer before a deal can be made. The company holds annual party‟s for its big customers, railway & customs officers and other people who contributes to its growth. Rosemount merchandise is sent to customers for festivals as well as birthdays. But despite the huge marketing activities of the company, it is difficult to get shipment orders as most customers have long term contracts with other logistics companies and also because the industry is highly competitive.
    • 4.4 Sales Process followed at Rosemount Step-1 Prospecting and qualifying Prospecting- identifying qualified potential customers i.e. exporters and importers in Bangalore who are in need of reliable logistics solution .It is important to determine the types of businesses that has to be targeted for appointments. Considering the services offered by the company it was decided the following types of organizations were to be contacted: Such businesses that deals with exports and imports to and from geographical regions like European Union, USA, Far East, Japan, China and Middle East. Retail chains that require warehouse space to stock their goods. Such organizations which are in a position to influence others (e.g., shipping liners.) Existing Customers who have done business with Rosemount in the past. Businesses that require customs clearing and broking services. Step 7 –Follow Up Step 6- Closing Step 5- Handling Objections: Step-4 Presentations Step 3- Approach Step 2- Preapproach Step-1 Prospecting and qualifying
    • Prospecting methods used: Referrals from existing customers: Asking existing customers for referrals since these customers have experienced the service provided by the company they would be able to confidently recommend it to other companies they are associated with .The sales managers at Rosemount ensure that they obtain contacts of potential customers from existing customers .Most of the shipping liners who the company is associated with refer new customers . Personal contacts: In order to identify potential customers I referred to my family directory and church book out of which three people were shortlisted .I further enquired with them if they had any requirement for freight forwarding services for their businesses. Though none of them expressed immediate requirement this method of prospecting led me to people who had potential to become customers in the future. Marketing Activities: The various marketing activities implemented are as listed below: • Attractive broacher‟s are sent by post to many traders as per enquiry received • Personal emails with the company profile are sent to the exporters. • Rosemount‟s custom made calendars are sent to customers. • During festive season cakes and sweets are distributed to various clients both old and new. • Top customers are gifted leather wallets on their birthdays. • The company has subscribed to various online and offline trade portals , journals and directories like Just dial ,Trade India online , Corporatedir.com , Grotal.com , Getit.in etc to name a few . • Rosemount hosts annual parties in honor of their loyal customers, customs officials and shipping liners associated with them. Referral from external sources: In this type of prospecting a list of leads are obtained and calls are made to each lead so as to obtain an appointment with decision maker of the company, so that the sales managers can identify the requirements and send quotes as per the destination .This was the main method of prospecting used in Rosemount .Extensive use of Just dial ,Ask Lila and other online directories were made so as to get leads of prospective customers who require freight forwarding services . Many contact details of prospects were also obtained from trade fairs. Step 2- Preapproach To obtain detailed information about the prospect :At this stage data is gathered about the prospect‟s company address , cargo ,destination etc
    • Different prospects should be approached with different strategies as per their segmentation. Therefore it is necessary to have separate strategy for each segment . Some are easy to approach while others are difficult .Some prospects prefer direct approach while the others prefer indirect .Medium and small scale businesses are more willing to give appointment, without much perusal as compare to big companies. Considering these difference the best approach should be selected so that it will have maximum impact on the prospect. To plan the presentation to be made: Planned pre approach will result in successful presentation .The company tries to determine the prospects requirements beforehand so as to avoid mistakes and uncertainty. The sales manager does a background study of the company by paying close attention on the products it sells, destination of cargo etc. To save time, energy and cost of transportation: Another main step in the pre approach is the sales managers plan the daily appointments in the same locality so as to save time and cost. Companies located in the same industrial area are covered on the same day for examples on a single day the sales managers would visit two to four companies located in Peenya and thus try to obtain appointments in nearby places. Step 3- Approach The main approach was to make calls and obtain face -to -face appointments by using convincing sales pitch .Using the customer data base given by the company direct phone calls were made to export managers / directors/secretaries / decision makers with respect to exports and imports / purchase managers etc. A standard sales pitch was followed for all prospects in order to obtain most of the appointments .The various sales pitch used by me is as stated below: If talking to the receptionist for the first time (Common to all the clients) “Good Morning Sir/Madam……. I am Susan calling from Rosemount Shipping Company, could you kindly connect me to your export manager. It is regarding an appointment. (If he/she consents to connect the phone ) Can I know the concerned person‟s name please? ….. Thank You”
    • If talking to the receptionist for the second time (When the decision maker has asked me to call on a later date) “Good Morning Sir/Madam ….. I am Susan calling from Rosemount Shipping Co, could you kindly connect me to Mr.Xyz. He had asked me to call him today. (If not in office) Could you please tell him I had called? …… Thank You” If talking to the concerned personnel for the first time (To enquire if he is interested in the service) “Good Morning Sir/Madam… Am I talking to Mr. /Mrs. Xyz? I am Susan calling from Rosemount Shipping Company; We are a Bangalore based company ,we provide various logistics solutions to exporters and importers .We operate in European Union, USA, Far East, Japan, China and Middle East. Could we kindly have an appointment with you? Our sales manager would like to talk to you about the services we offer at Rosemount. Would you be free any time this week? (If expresses disinterest due to reasons like existing contracts with other logistics player, nominated shipments, few shipments ,not free this week etc) That‟s fine Sir/Madam, could you kindly give me your e-mail id so I could forward our company profile to you so that you can contact us any requirement arises. (If the customer enquires about the prices)
    • Could you kindly give me the destination for the cargo? …We will send the quotes right away to your email id. … Thank You” Step-4 Presentations: Before the face to face meeting the sales manager forward the company profile to the prospect .After this the appointment is confirmed and power point presentations are made .A samples of the company profile sent to prospects before a meeting are as follows: Dear Mr. Gopala Krishna, Greetings to you from Rosemount...!!! We are pleased to introduce ourselves as Rosemount Shipping (India) Private Ltd, one of the leading Freight Forwarding company having its corporate office based at Bangalore, India. Rosemount is having own offices at all major ports and inland depots across India. We are an ISO 9001; 2008 certified company and have more than 100 employees working at various offices in India. Rosemount's core business activities includes Customs Broking, NVOCC to Russia and CIS, Freight Forwarding to USA, Europe, China, Middle East, Africa and Far East, Container Freight Station, Exhibition Logistics, Air Cargo and Transportation. To know more about Rosemount, please visit our website www.rosemountshipping.com Rosemount is having dedicated and experienced sales and customer service team who will be able find cost effective solutions for all your shipping requirements worldwide. Rosemount is having specialised global partners who can handle your consignments safely and on time delivery to meet your client requirements. Should you require any assistance on your shipments, kindly let us know so that our shipping experts can visit your office and offer you the best possible solutions for all your shipping needs. We look forward to have a long standing business relationship between both our companies. Thanking you, Best Regards, Reenu George Your Logistics Partner!! Reenu Maria. Rosemount Shipping (India) Pvt Ltd.
    • Corporate Sales. Step 5- Handling Objections: Objects are an unavoidable part of the sales process, but it should not be seen as a closed door. The important part is to understand the reason for the customer‟s objection. After understanding the reason it will be easier for the sales person to handle the objection and move forward so that it is mutually benefiting. 1: Show gratitude: Whenever the customer raised an objection the first step is to thank them as they are providing us with an opportunity to address an issue and move on with the deal. At this stage it is best to ask them all their objections directly as it will help the sales person understand the exact requirement of the customer. An objection should not be treated as a no as it gives a platform to begin the conversation .A simple thank you can switch the mood of an angry customer and helps in making them in a pleasant mode again. The most common objections faced and the response made: Prospect: “We do not have any immediate requirement /We already have an exisisting contract with a logistics company /We are happy with our current logistics operator /We have very few shipments /Most of our shipments are nominated.” Sales Person: “Sir / Madam, I would like to thank you for telling me ………….. But we are not looking for an immediate order for shipment; our sales manager would like to meet you so that we can be associated with you in the long run.” 2: Empathize Empathizing with customers helps in connecting with them at a personal level, they should be convinced that you care and that you are ready to listen.Many times the person who raises the objection is merely a messenger and not the decision maker so it‟s best not to get defensive once the objection is raised. It is necessary to empathize in a manner so as to diffuse the situation. Situation when the receptionist or a messenger refused to connect the phone to the concerned person: Messenger: “Sir said he is not interested / Sir is not free now etc /Please don‟t disturb now.” Sales person: “I am very sorry for disturbing you, could you kindly give me his email-id /Madam could you please tell me when I can contact him / when will he be free/ Sir ,I am aware you have an existing contract but our sales managers would ,just like to meet the concerned person, as per his convenience.”
    • 3: Discovering the reason for objection Now that the situation has been diffused next is to identify what is actually going on .Asking the customer open ended question helps in discovering the answers to all your queries .The question should be rephrased in a manner such that the customer gives a detailed answer .It is also advisable to ask “why?” so as to understand the situation .Building a bond with the customer is equally important during the discovery phase . Prospect: “I am sorry I am not interested.” Sales person: “Sir/Madam, could I kindly know the reason.” 4: Ask, Probe, Confirm As the conversation gets deeper it is important to probe further by asking the customer to clarify what they have said.Atleast four to five questions are required to truly understand the nature of the customers objection . It is necessary to restate what the customer told as per your understanding and ask them if the understanding is accurate. Most customers object saying they do not have time to meet despite sending them the company profile and making many calls: Prospect: “Most of our shipments are nominated.” Sales Person:” That‟s, okay sir .Could you kindly gives us an appointment with you.” Prospect: “What is it regarding?.” Sales Person: “Our sales managers would like to meet you to talk about our services and rates.” Prospect: “I am not free this week.” Sales Person: “That‟s alright sir, How about next week?” Prospect: “Okay .Call and confirm before coming.” Sales Person: “Thanks a lot, for your time!” Step 6- Closing Closing refers to obtaining the consent of the customer to make the purchase. The two important aspect of closing is timing and confidence. Sales people often lack confidence to ask for commitment from the customer fearing they will get rejected hence they miss out on many opportunities. Structuring the sales call has proven to work favorably for sales people as it builds confidence and gives them control without making the customer feel the pressure. The main closing techniques used to get an appointment were: Assumptive Close: “So, when can we meet you sir/madam?” Summary Close: “Sir, since you stated you have frequent shipments I am sure you will find our logistics service reliable.” Alternative Close: “Sir, if you are free now we can meet you or else whenever it is convenient for you.”
    • Minor Decision Close: “Would you be interested in seeing our company profile .I could mail it to you, Sir.” Call Back Close: “Sir, if you are busy now, can I call you tomorrow?” Clean Sweep Close: “Yes Sir, we will meet you in half an hour.” Persuasive Close: “Sir, our managers are in Peenya at the moment can they meet you, if you are free now?” Step 7 –Follow Up Follow up is necessary so as to build long term relationships with customers .At Rosemount Shipping Company follow-up was done by maintaining a schedule of daily tasks i.e. clients to meet ,phone calls to make ,emails to be sent etc. The sales managers were in constant touch with the customers by making periodical phone calls and building a good rapport with them .This helped in getting appointments easily as the customers became aware about the service provided by the company due to the systematic follow up carried out . After the meeting a follow up is done with the customers to know if they are happy with the price stated in the quotation if not the sales manager negotiate with shipping line and sends the new quotes to the customer.
    • CHAPTER 5 ANALYSIS AND DATA INTERPRETATION
    • 5.1 The steps involved in the process of lead generation is as listed below 5.2 Analysis using Sales Funnel The sales funnel is a tool which shows the customers journey from the moment the product or service attracts the customer‟s attention till the point of final purchase. 1 •To collect information about the company and to understand the various services offered. 2 •To analyze the strengths and weakness of the Company. 3 •To determine the most effective lead generation techniques to be used. 4 •Observing and Learning from mock calls being made. 5 •Tele marketing to customers in order to get an appointment. 6 •Forwarding the company profile via email and sending out broachers to potential customers 7 •Confirm the appointment and meet the customer 8 •Forward quotes 9 • Collect customers feedback.
    • Parameters used to define each level of the sales funnel Cold :Prospects, who refused to speak over the phone/who showed clear disinterest in the service/ who‟s shipment were fully nominated /who had exisisting contracts with other logistics companies and were satisfied with their services/customers that stopped exports and imports in the recent past etc Warm: Prospects who asked us, to contact them at a later date/e-mail the company profile/ gave contact details of the decision makers in relation to logistics/who gave appointment for face to face meeting/who has asked for quotes. Hot: Prospects, with who the company is in the negotiation process /who has called for a second or third meeting/who has agreed on the quoted price/prospects gives positive feedback on the meeting . Full payment: Customers who has made an advance payment. Retailed: Customers who has given the final order /who has signed the bill of lading/signed the credit note. Sales Funnel as on April 20th , 2013
    • At the end of 30 days i.e. as on 30th May, 2013 the sales ratios obtained were as follows: Cold= 120 Warm = 56 Hot = 20 Full Payment = 0 Retailed = 4  Hot to Retailed = Retailed / FP+Hot+Retailed =4/0+20+4 =4/24 = 0.16 x 100 =16.66%  Warm to Hot = Retailed+FP+Hot/Retailed+FP+Hot+Warm =4+0+20/4+0+20+56 =24/80 = 0.30x100=30%  Warm to Retailed = Retailed /Retailed+Full Payment +Hot +Warm = 4/4+0+20+56 = 4/80 = 0.05x 100= 5%  Cold to Warm= Retailed+FP+Hot+Warm /Retailed+FP+Hot+Warm+Cold =4+0+20+56/4+0+20+56+120=80/200 = 0.40x 100=40%  Cold to Retailed = Retailed/Retailed+Hot+FP+Warm+Cold 200 0 0 0 0
    • =4/4+20+0+56+120 =4/200 = 0.02= 2% Sale funnel as on May 20th , 2013. 120 56 20 0 4
    • 5.3 Interpretation: 1. A total of 200 leads were collected using the above mentioned four methods out of which:  3% were referrals from exisisting customers (5 prospects )  10% were obtained due to personal contact (20 prospects)  5% came from marketing activities (10 prospects )  82% of the leads were collected from external sources (165 prospects). 2. Maximum number of leads were obtained from external sources i.e. customer database prepared using online directories and trade fairs. Whereas the least number of leads were collected from referrals from existing customers. 3. It can be seen from the funnel at the beginning of the period, that all the 200 leads are listed as cold .This is because a completely new database was created and none of the prospects listed in it were approached by the company in the past. 4. After 30 days i.e. as on 20th May 2013, it can be seen that the number of cold prospects have reduced from 200 to 120 cold prospects. 5. The number of warm prospects was 56 whereas the hot prospects were 20 in number. 6. It can be seen that none of the prospects fall under the full payment category in the full as no advance payment was received by the company. 7. A total of 4 prospects were retailed at the end of the 30 day period.
    • CHAPTER 6 Findings ,Suggestions &Conclusion
    • 6.1FINDINGS 1. On an average 15 calls were made per day out of which 6 to 8 were received positively 2. Recording the response made by the customer turned out to be a useful reference for consecutive calls made .This also helped in preventing repetitive calls to cold prospects. 3. Online directories and trade fairs were the best sources to generate leads based on cost effectiveness and number of contacts received. 4. It was observed that when the company was not prompt on response the customer turned cold and showed disinterest in further communication with the sales managers. 5. While obtaining appointments it was observed not to fix appointments more than three days prior to the date of meeting. 6. Hosting dinners for customers and sending out merchandise has helped in retaining customers up to a certain extent. 7. Aggressive follow up was observed to help in generating interest among the customer. 8. Customers with whom personal bonds were built were more willing to give appointment as well as orders. 9. By telemarketing to fresh prospects, general awareness about the firm was created. 10. Customer database should be refreshed on a monthly basis so that the number of prospects doesn‟t get exhausted. 11. Sales calls made in the mornings were received with warmer responses than the calls made post lunch. 12. It proved to be effective to stay in touch with the receptionist if the decision maker was held up for a week due to busy schedule. 13. Collecting maximum information about the customer before making the sales call helped in delivering the sales pitch in the best possible way. 14. Customers were keen on knowing the credentials of the company before going forward with the conversation. 15. Knowing the local language is a criterion to win over some customers. 16. Referral system is one of the best ways to convince the customers that your service is good. 17. While making sales calls it was observed that the receiver was more receptive when an insider‟s name was mentioned rather than asking him to connect the phone to an unknown person. 6.2SUGGESTIONS
    • 1. The company should subscribe to online work management tools like Smartsheet and Asana which will help in boosting sales as well as reduce the time taken to record activities than when done manually. 2. The number of sales managers should be increased as it was seen that having only three employees in the sales department weren‟t enough to reach out to all the prospects. 3. Customer testimonials should be added to the company broacher as well the company website as this will promote the service in a convincing fashion. 4. The daily target set with respect to the number of face to face meetings with prospects should be increased. 5.Brainstorming should be carried out by the sales managers so as to devise an effective sales pitch catering to different type of customers based on their requirements i.e. freight forwarding , warehouse space ,customs clearance ,container leasing etc. 6. Regular meetings and training programs should be held so as to motivate the sales force and improve performance. 7. The company should carry out low cost research activities by tying up with reputed management colleges and offering live projects to students. 8. The entire sales process followed at Rosemount should be recorded so that it can be used as a reference for the sales managers. 6.3CONCLUSCION The main methods of lead generation followed at Rosemount are through telemarketing, and by sending the company profile via email .Good communication skills, confidence and knowledge about the company were an essential to keep the conversation interactive during telemarketing. The customer database was created using contacts received from trade fairs and online directories. This was the most effective prospecting method used. Periodical changes had to be made in the customer database as and when there was change in contact details of the customers. The daily target to obtain a minimum of two customers were easily met but at the same time by increasing the number of sales people and setting higher targets the company will be able to generate more sales. While recording responses of customers traditional method of recording the details in a book was time consuming and not effective hence the company should take a step forward by adapting new system and utilizing new technologies. It was observed that ultimately the price offered to the customers was the main factor that determined sales conversion. Hence excellent negotiation skill as well as personal contact was required so
    • as to get a good price from the shipping liners. It can be concluded that Rosemount is at its growth stage and in order to continue in this track it should adopt an aggressive lead generation approach considering the high competition face by the industry. BIBLIOGRAPHY http://www.fao.org/docrep/w5973e/w5973e0g.htm http://www.google.co.in/imgres?imgurl=http://www.zoho.com/crm/help/img/follow-up-leads- flow.png&imgrefurl=http://www.zoho.com/crm/help/leads/create- leads.html&usg=__1BQYoaOm6QUfPn7VMOLUYj5- mtU=&h=923&w=1227&sz=467&hl=en&start=9&zoom=1&tbnid=uYfUejOiHkdBGM:&tbnh=113&tbnw=150&ei=8 va9UcrXE9CxrAfHlIDICg&um=1&itbs=1&sa=X&ved=0CDwQrQMwCA http://blogs.salesforce.com/company/2013/03/6-techniques-for-effective-objection-handling.html http://www.inc.com/guides/2010/05/closing-the-sale.html