What are theroles and functions of direct sales associates in GE countryside?The Company GECountrywide operates in 62 locations within the country and deals with theIndian consumers in helping them to fulfil their aspiration for quick and easyloans. They have various loan schemes like car loan, home equity loan and personalloan with different term period. Sales Roles of the Direct Sales Associates:1.
Responsible fordocument analysis of new customers after collecting their application form.2. To makingconsumers financially satisfied by providing easy and quick loans for theirwork3. Evaluation ofloan eligibility on the basis of norms fixed by company.4.
To increase thesales of the companyFunctions of DirectSales Associates:1. To promote theGE Countrywide by conducting the event as a part of marketing strategy like asroad shows, loan plans announcements, pamphlet distribution, loan meals etc.2. Collection ofthe customers’ primary data to keep it as a record.3. There is also apolicy prevalent in banks and loans providing organizations is KYC (Know YourCustomer) for accurate information.4. Providingdetails about different loan schemes and new offers to attract customers.
5. Meeting salestarget of company. Ques 2: Analyze thediagram and explain various stages of sales management in GE countryside.
GE Countrywide has asmooth functioning sales management team and have different positions or check posts.It follows PULL and PUSH strategies for marketing loan products. The companyhas following stages in sales management team:1. Contact details:Initially the company provides its contact details to the customers that is thetoll free number which enables them to call without any charges to be applied.2. Applicationstage: Collection of data from the customers through various means or promotingthe loan plans is the primary motive of this stage. Secondary is filling theapplication.
In this stage the schemes like events and sponsorship, loan melas,newspaper advertising and road shows are used to persuade customers. 3. Documentanalysis stage: This is above application stage where collected data is beingscanned and verification is done for further procedure.4.
Eligibilityanalysis stage: When the application is forwarded the stage comes where thecompany applies the eligibility criteria for the applicants. These jobs are performby the telemarketing executive, direct sales associates or marketingexecutives.5.
Capacityanalysis stage: Company analyze the potential customers which stay long withthe company and have enough potential to pay back loan. Existing customer’s credibilityis also recheck in this stage and all these functions are performed by RelationshipManager. 6. Deviation analysisstage: Knowing the customers deviation from the organizational norms.7. Risk analysisstage: Branch manager analysis the risk involve in the loans provided to thecustomers.8. Final approval: Thelast stage is to approve the customer detail and granting him/her the loan.
Ques. 3: Why should afirm like GE Countrywide maintain a customer data base? In what way is ithelpful in the company?Ans. 3: It has to carrynumber of document regarding the complete information of the customer. Thistype of company operates in huge data traffic and have several responsibilitytoo.
They keep a track record of customer’s personal details as well as theirloan collateral. Following are the reasons that why the company need tomaintain the data base: 1. To count thenumber of applicants as well as customers involve in the company.2.
To retain theold customers information which might come back in future for loan.3. To manage thedetails of the existing customers in order to serve them with attractiveoffers.4. To operate themanagerial functions of the company 5. To find theauthentication of the customer 6.Old data bank help to cross – sell new products to the existing customers.
7.Abiding the legal terms.8.To analyze their growth in terms of selling amount and customers.The maintenance of thedata base helps the organization to grow in terms of customer base andfinancially too. With the help of an updated data base an organization canperform several task that can be performed only with an authenticatedinformation.
The company like GE Countrywide which majorly deals in financialsector it need to maintain the records so that any verification or to avoid anysort of dispute that may occur within the company. So in order to run thebusiness smoothly not only in present stage but also in future it has tomaintain the data base of the company