PROJECT REPORT

on

DIGITAL MARKETING OF FINANCIAL

SECURITIES
Synopsis submitted in partial fulfillment of requirements for
Bachelors of Business Administration
Logistics and supply chain management

Mentors Name-

Mr. Akhil Damodaran

COURSE COORDINATOR of BBA(LM)
UPES- Dehradun
Submitted by-

SAP ID-500035773
Enrolment Number:R380214033

BBA Logistics and Supply Chain Management

2014-2017
College of Management & Economics Studies, UPES

DECLARATION
I declare that the work embodied in this dissertation, entitled EFFECT OF SUPPLY
INTEGRATION AT E- COMMERCE , is the outcome of my own work conducted
under the supervision of Prof. Sujith P. Surendran, at College of Legal Studies, University of
Petroleum and Energy Studies, Dehradun.

I declare that the dissertation comprises only of my original work and due acknowledgement
has been made in the text to all other material used.

Signature & Name of Student

CERTIFICATE

This is to certify that the research work entitled EFFECT OF SUPPLY INTEGRATION
AT E-COMMERCE is the work done by under my guidance and
supervision for the partial fulfillment of the requirement of Int. BBA College of Legal
Studies, University of Petroleum and Energy Studies, Dehradun.

Signature & Name of Supervisor

Designation

Date

EXECUTIVE SUMMARY

Integrated Marketing Communication is a marketing concept that ensures all forms of

communication and messages are carefully linked together.

At its most basic level, Integrated Marketing Communication or means integrating all the

promotional tools, so that they work together in harmony. Promotion is one of the Ps in the

marketing mix. Promotion has its own mix of communication tools.

All of these communication tools work better if they work together in harmony rather than

in isolation. Their sum is greater than their parts - providing they speak consistently with

one voice all the time, every time.

Integrated Marketing Communication is the concept that makes all the marketing tools to

work together as a unified force rather than work in isolation. It makes the use of entire

marketing efforts in the form of advertising, public relation, personal selling, sales

promotion, internet marketing , direct marketing in order to generate maximum impact on

the target audience at the minimum cost.

According to William Stanton, is an element in organizations marketing mix that is used

to inform, persuade and remind the market regarding the organization and

/ or its products.

It blends various promotional tools and communication/marketing/advertising services and

techniques to maximize profit. is ultimately achieved through concise and consistent

messaging that fosters familiarity and consumer affinity.

 INTRODUCTION OF DIGITAL MARKETING

Digital Marketing:-
Digital marketing can be defined as the process of promoting of brands using digital
distribution channels comprising internet, mobile and other interactive channels. The
basic advantage in this form of advertising lies in its low cost model.
Digital Marketing can be classified into Pull and Push marketing.
Pull
Pull digital marketing technologies involve the user having to seek out and directly grab
(or pull) the content via web searches. Web site/blogs and streaming media (audio and
video) are good examples of this. In each of these examples, users have a specific link
(URL) to view the content.
Push
Push digital marketing technologies involve both the marketer (creator of the message) as
well as the recipients (the user). Email, SMS,RSS are examples of push digital marketing.
In each of these examples, the marketer has to send (push) the messages to the users
(subscribers) in order for the message to be received.

1.1.2 Web Site Designing

From the initial process of taking inputs from clients, planning on the basis of such inputs
to final implementation and testing all are done using latest web designing techniques
and skills. Our services have the advantage of offering clarity in its design style, which is
backed up with an easy and free flowing content and latest technical know-how. Not only
we provide affordable web site design and ecommerce web development services but also
search engine friendly designs. Our Service Includes
Website Design
Website Redesign
Shopping Cart Web Design
Detailed and Advanced Page Layout
Custom Logo Design
Banner Ads
Custom Graphics Design using advanced design tools.
1.2 Digital Marketing Trends:
Organizations are implementing a wide range of digital channels so as to engage customers
in a more personalized way. Digital marketing trends that organizations are rapidly
embracing include
1.2.1 Mobility:
Business Insider's recent report indicates that globally, one in every five people owns a
smart phone, and one in every 17 owns a tablet. That's an increase of nearly 1.3 billion
smartphones in last four years. Therefore an increased user base accessing the internet via
smartphones has prompted many companies to optimize their online content for mobile
devices.
1.2.2 Social media:
Organizations are focusing on engaging with customers through social media to offer real-
time interactions. Social media helps organizations reach out to a vast pool of potential
customers by supplying them with medical and campaign-related information.
1.2.3 Social-Local-Mobile marketing:
The growing popularity of smart mobile devices, increasing location based social activities
like experience sharing, review reading via social media and the evolution of Global
Positioning System (GPS) are helping companies leverage Social-Local-Mobile marketing
activities.
1.2.4 Personalized Content marketing:
Customer engagement, acquisition and retention have all taken on a new dimension with the
delivery of unique, personalized, and relevant messages through identified digital
channels.Email is one of the most preferred marketing channel to broadcast targeted
organization messages and campaigns to existing and prospective customers.

1.2.5 Advanced analytics:

Increased adoption of digital channels is generating large volumes of customer behavioural
data. Advanced actionable analytics can help organizations define targeted marketing
strategies.
Search Engine Marketing (SEM) / Search Engine Optimization (SEO) Organizations
are focusing on SEO efforts and paid search advertising for enhancing the visibility of their
products and services.
One more trend that has been observed recently is the continually mounting costs of pay-
per-click (PPC) that has resulted in the increased disappointment with this form of search
engine Advertising. According to experts, the reason behind such high costs is the huge
investments made by large business concerns. Consequently, online business owners have
now turned to the organic search results delivered through search engine optimization to
enjoy so many advantages. There is currently more emphasis given to user-generated
content, improved conversion rates, location- or language specific campaigns, and E-mail
newsletters.
The future of online Advertising is going to be more interactive with elevated bandwidth
and computing speed. Viewing and transmitting videos will be a cakewalk for web surfers.
There is also every possibility of witnessing browser-specific results in the coming days.
Social media will consolidate their dominance further. They will not only make more
revenues, but will grab the attention of more and more users as well. As far as search engine
optimization is concerned, the search engine algorithms and link determination factors will
be complicated.
Further, thereby giving a hard time to online Advertising companies. Websites will be a lot
slimmer to enhance user browsing experience. Last but not least, video search will grow in
prominence with the potentiality to dictate the terms in the world of Internet advertising.

Digital Marketing like traditional form of marketing is a highly result driven and set
objective practice. One cant begin a digital marketing campaign without setting the
campaign objectives. A digital marketer understands the needs of the clients and
visualizes their needs to deliver what they want.

Taking a look at last years figures, lets see what AdAge discovered when looking at
the statistics:

77% of people interact with brands on Facebook by looking at posts

17% share news and experiences with others about the brand
13% post updates about brands they have connected with
56% said they would recommend a brand after becoming a fan on Facebook
34% of digital marketers have generated leads from Twitter
so as a marketing management student it's very essential to research on such an important
marketing tool and study on its impact on revenue generation will help you to know about
how marketing agencies performing .
Every marketer needs to understand how to exploit digital marketing assets, tools and
techniques in order to improve their customer value proposition and help achieve their
organisational objectives. This means designing an accessible, usable and value-adding
website and using a range of inter-related digital marketing tools and techniques integrated
with traditional tools and techniques to drive traffic, conversion, engagement and referrals.
Hence this workshop!

Who should attend

This workshop is designed for people who want to get a better understanding of the key
digital marketing tools and techniques available with a view to improving their digital
marketing activities as well as measuring their effectiveness. Its an established workshop
(over 12 years) and has proven especially useful to people either new to digital marketing
(or certain aspects thereof) and/or those wanting to confirm theyve got the fundamentals
right!

Learning outcomes

Understand digital marketing and the key tools and techniques available.
Create an integrated Digital Marketing Plan using Web 2.0 tools (take-away
template).
Develop clear and measurable objectives for your digital marketing activities.
Create a great website, great content, great experience and benefit from sharing.
Get found on the web (SEO & SEM/PPC Search Engine Optimisation/Marketing).
Build your digital profile using tools such as blogs, content marketing, and social
media marketing, etc.
Design, develop and deliver an engaging digital marketing proposition/experience.
Use digital and social media metrics and analytics to assess the success of your
digital marketing activities and investments (including ROI)
Types of Digital Marketing
In normal outbound marketing, we will use pull and push marketing strategy. Like that in
digital marketing also pull and push are types.
In push digital marketing the marketer sends a message without the recipient actively
seeking the content, such as display advertising on websites and news blogs. Email, text
messaging and web feeds with customized

Contents can also be classed as push digital marketing when the recipient has not actively
sought the marketing message. Push marketing allows you to target your demographics and
use your marketing dollars to promote your product to the people you know are interested in
what you have to sell. A push marketing campaign can be more expensive when it comes to
upfront costs, so you really need to be sure that your marketing is going to reach the right
people at the right time. Behaviour targeting is good example for push digital marketing.
In Pull digital marketing includes blogging, email marketing, social media, info graphics
and other forms of visual messaging and search engine optimization (SEO). A pull
marketing campaign also includes public relations or other ways of reaching out to potential
or already realized customers who you want to keep engaged. While a pull marketing
campaign can be less expensive to get started, you will incur costs in other ways. For
example, if you are running a social media campaign, you will need to hire someone to
manage
DIGITAL MARKETING CHANNELS:

1. SEO (Search Engine Optimization):

Search engine optimization (SEO) is the process of affecting the visibility of a website or
a web page in a search engine's "natural" or un-paid ("organic") search results. SEO may
target different kinds of search, including image search, local search, video search, academic
search, news search and industry-specific vertical search engines.

As an Internet marketing strategy, SEO considers how search engines work, what people
search for, the actual search terms or keywords typed into search engines and which search
engines are preferred by their targeted audience. Optimizing a website may involve editing
its content, HTML and associated coding to both increase its relevance to specific keywords
and to remove barriers to the indexing activities of search engines. Promoting a site to
increase the number of back links, or inbound links, social book marking, directory
submission is the SEO tactic.

Social bookmarking:

Essentially, a social bookmark is a link that people post to social websites for others to see
because they find it interesting, valuable or cool. In a way, social bookmarks are just like the
bookmarks you already have on your private computer. The difference between the two is
that social bookmarks are saved to the web where they can be easily shared while private
bookmarks are saved to your own browser. The idea behind social bookmarking is simple:
post links on popular social bookmarking websites to increase your own traffic and gain an
ongoing stream of new readers and customers. Content that are openly shared with other
Internet users literally have unlimited growth potential. For example, one link can quickly
multiply and reach thousands of desktops across the world if one user passes it on to others,
and those users in turn do the same, and so on. Online marketing has gravitated away from
true-and-tried ad and affiliate marketing toward the rapidly growing world of global social
networking. Social bookmarking is a great traffic-boosting search engine optimization
(SEO) strategy because its easy, effective and trendy.

SEM (Search Engine Marketing):

Search engine marketing (SEM) is a form of Internet marketing that involves the
promotion of websites by increasing their visibility in search engine results pages (SERPs)
through optimization and advertising.] SEM may use search engine optimization (SEO),
which adjusts or rewrites website content to achieve a higher ranking in search engine
results pages, or use pay per click listings.

There are four categories of methods and metrics used to optimize websites through search
engine marketing.

1. Keyword research and analysis involves three steps ensuring the site can be indexed in
the search engines, finding the most relevant and popular keywords for the site and its
products, and using those keywords on the site in a way that will generate and convert
traffic. A follow-on effect of keyword analysis and research is the search perception
impact. Search perception impact describes the identified impact of a brand's search results
on consumer perception, including title and Meta tags, site indexing, and keyword focus. As
online searching is often the first step for potential consumers/customers, the search
perception impact shapes the brand impression for each individual.

2. Website saturation and popularity, or how much presence a website has on search
engines, can be analyzed through the number of pages of the site that are indexed on search
engines (saturation) and how many backlinks the site has (popularity). It requires pages to
contain keywords people are looking for and ensure that they rank high enough in
searchengine rankings. Most search engines include some formof link

Popularity in their ranking algorithms. The following are major tools measuring various
aspects of saturation and link popularity: Link Popularity, Top 10 Google Analysis, and
Market leaps Link Popularity and Search Engine Saturation.

3. Back end tools, including Web analytic tools and HTML validators, provide data on a
website and its visitors and allow the success of a website to be measured. They range from
simple traffic counters to tools that work with log files and to more sophisticated tools that
are based on page tagging (putting JavaScript or an image on a page to track actions). These
tools can deliver conversion-related information. There are three major tools used by
EBSCO: (a) log file analyzing tool: Web Trends by NetIQ; (b) tag-based analytic tool:
WebSideStory'sHitbox; and (c) transaction-based tool: Tealeaf RealiTea. Validators check
the invisible parts of websites, highlighting potential problems and many usability issues
and ensuring websites meet W3C code standards. Try to use more than one HTML validator
or spider simulator because each one tests, highlights, and reports on slightly different
aspects of your website.

4.Whois tools reveal the owners of various websites, and can provide valuable information
relating to copyright and trademark issues.

2.1 Pay per click (ppc):

Pay per click (PPC), also called cost per click, is an internet advertising model used to direct
traffic to websites, in which advertisers pay the publisher (typically a website owner) when
the ad is clicked. It is defined simply as the amount spent to get an advertisement clicked.
With search engines, advertisers typically bid on keyword phrases relevant to their target
market. Content sites commonly charge a fixed price per click rather than use a bidding
system. PPC "display" advertisements, also known as "banner" ads, are shown on web sites
or search engine results with related content that have agreed to show ads.

In contrast to the generalized portal, which seeks to drive a high volume of traffic to one
site, PPC implements the so-called affiliate model, which provides purchase opportunities
wherever people may be surfing. It does this by offering financial incentives (in the form of
a percentage of revenue) to affiliated partner sites. The affiliates provide purchase-point
click-through to the merchant. It is a pay-for-performance model: If an affiliate does not
generate sales, it represents no cost to the merchant. Variations include banner exchange,
pay-per-click, and revenue sharing programs.

Websites that utilize PPC ads will display an advertisement when a keyword query matches
an advertiser's keyword list, or when a content site displays relevant content. Such
advertisements are called sponsored links or sponsored ads, and appear adjacent to, above,
or beneath organic results on search engine results pages, or anywhere a web
developer chooses on a content site
Growth of social networking:
There is no doubt that the use of social networks is rapidly growing. What this means to
business is that, there are audience on the virtual world than the business could ever reach
through any other type of media. This is in fact one of the main advantages of using Twitter
and other social networks for businesses.
Easier way to pass info:
By just posting a 140 character tweets, a business would be passing more information than it
can do anywhere else. This costs less or almost nothing compared to other modes like
sending a mail or making a phone call. I also dont know if this is true for everyone else, but
I may read lots of stuff online that I may not read if they were on a hard copy or somewhere
else.

Cons:
Spams and viruses:
When the use of the internet world has increased, the potential risks that one can obtain
from the internet have increased as well. What this means is spammers could spam your site
or worse than that, can find access to your information through social networks. Social
networks could be useful, but if not properly used, then they could lead to more problems.
Linked In Marketing:

LinkedIn is a business-oriented social networking service. Founded in December 2002 and

launched on May 5, 2003 it is mainly used for professional networking. In 2006, LinkedIn
increased to 20 million members. As of June 2013, LinkedIn reports more than 259 million
acquiredusers in more than 200 countries and territories.
LinkedIn allows companies to create professional profiles for themselves as well as their
business to network and meet others. Through the use of widgets, members can promote
their various social networking activities, such as Twitter stream or blog entries of their
product pages, onto their LinkedIn profile page. LinkedIn provides its members the
opportunity to generate sales leads and business partners. Members can use Company
Pages similar to Facebook pages to create an area that will allow business owners to
promote their products or services and be able to interact with their customers. Due to
spread of spam mail sent to job seeker, leading companies prefer to use LinkedIn for
employee's recruitment instead using different job portals. Additionally, companies have
voiced a preference for the amount of information that can be gleaned from LinkedIn
profile, versus a limited email.
Pros and Cons of social media marketing on LinkedIn
LinkedIn is one of todays biggest social networks but its not exactly what you might call
strictly social. LinkedIn provides a great deal of exposure to businesses and can help find
new partners, business opportunities, or employees. Some might even call LinkedIn a social
network for business as its used mainly for professional networking. As a social platform
LinkedIn incorporates many social aspects, but its main focus is the business world. As a
result, many small business owners join LinkedIn with the hopes of expanding their
ventures and creating new connections that might prove beneficial. But like most things,
LinkedIn has its pros and cons.
Pros

The first, most obvious benefit from using LinkedIn comes from the algorithmic
realm of SEO (search engine optimization). Its yet another avenue that search
engines use to bring businesses in search query results. Its the perfect tool to
give a business more exposure while also allowing it to expose the most crucial
parts of its business the mission, the background, the members of the team, etc.
Increased SEO exposure leads to increased web traffic which, in turn, leads to an
increased conversion rate.
 LinkedIn is also a great way to stay up-to-date with the news from your industry
or field of interest. This is a major benefit it keeps you in the current loop,
indicates upcoming trends or big ideas, and provides a ripe stomping ground for
sharing experiences and advice among experts surrounding topics that are
important to the business. These easily accessible resources are invaluable to a
company, particularly smaller ones, due to its low cost and high beneficial value.

LinkedIn is also a great asset because of the amount of information it gives about
a particular company or business. Similar to Facebook, LinkedIn will tell you all
the major data you need to know about a company as well as give you the
professional profiles of the individuals associated with the business from
employees to investors. Access to this type of specific data and information
allows users to easily find potential partners or recruit new employees, saving
you a lot of time, energy, and resources.

LinkedIn Answer also gives users the chance to demonstrate their knowledge
and skills in their respective field to establish themselves as credible experts with
vast knowledge and expertise. In turn, this is beneficial for LinkedIn users as it
positions them as experts and boosts the companys credibility.

Cons:

When looking at LinkedIn, its also important to be aware of and acknowledge

its cons. One of the major negatives is the way users use LinkedIn as an
advertising megaphone via SPAM so brace yourself for the slew of SPAM
coming your way.

Once established, LinkedIn is a major timesaver. But in the beginning, it requires

a lot of personal time and work version of LinkedIn, but that might not be an
option for smaller companies with a limited budget. to get your connections
flowing and conversations started. Users need to constantly ask others to be
introduced to companies and individuals they are interested in connecting with,
which can be cumbersome at times. Always keep in mind that LinkedIn is a
platform for connections and conversations so approach these tasks with the
outcome of building a business relationship in mind. This task can be
sidestepped with the paid
 Overall, LinkedIn is a solid platform for businesses and individuals. If you are
just getting started, keep these pros and cons in mind. If you do, your
relationship and experience with LinkedIn will prove beneficial.
In our internship, we used LinkedIn to grow the professional network of Institute
of Digital Marketing. This institute not only provides knowledge but also do
business with its skill sets. LinkedIn helps in building great professional network
and in getting new businesses. Apart from the workshops and course classes,
Institute of Digital Marketing has some set of people who develops e-commerce
websites and optimizes them. Hence, in order to get business we have used
LinkedIn as a major platform.

In LinkedIn groups, there will be discussions going on every time. So, we have
created a LinkedIn group and started discussions on various topics on digital
marketing. In the beginning the results were very slow since LinkedIn is strictly
a professional network and the targeted people might not

Show much interest here. As it goes on, our discussion has got a wide popularity
with students from different colleges asking questions and actively participating
in the discussion.

With this growing popularity on LinkedIn, slowly business started coming in. in the
beginning only small projects used to come like landing page creation, content creation,
blog postings etc. There were two big projects came during my internship tenure from
Dharani Computers and The Suntech Corporation for developing and managing the website
and do search engine optimization for them.

INTRODUCTION OF FINANCIAL SECURITIES

A financial market is a broad term describing any marketplace where buyers and sellers
participate in the trade of assets such as equities, bonds, currencies and derivatives.
Financial markets are typically defined by having transparent pricing, basic regulations on
trading, costs and fees, and market forces determining the prices of securities that trade.

Financial markets can be found in nearly every nation in the world. Some are very small,
with only a few participants, while others - like the New York Stock Exchange (NYSE) and
the forex markets - trade trillions of dollars daily.

Investors have access to a large number of financial markets and exchanges representing a
vast array of financial products. Some of these markets have always been open to private
investors; others remained the exclusive domain of major international banks and financial
professionals until the very end of the twentieth century.

Capital Markets
A capital market is one in which individuals and institutions trade financial securities.
Organizations and institutions in the public and private sectors also often sell securities on
the capital markets in order to raise funds. Thus, this type of market is composed of both the
primary and secondary markets.

Any government or corporation requires capital (funds) to finance its operations and to
engage in its own long-term investments. To do this, a company raises money through the
sale of securities - stocks and bonds in the company's name. These are bought and sold in
the capital markets.

Stock Markets
Stock markets allow investors to buy and sell shares in publicly traded companies. They are
one of the most vital areas of a market economy as they provide companies with access to
capital and investors with a slice of ownership in the company and the potential of gains
based on the company's future performance.

This market can be split into two main sections: the primary market and the secondary
market. The primary market is where new issues are first offered, with any subsequent
trading going on in the secondary market.
Bond Markets
A bond is a debt investment in which an investor loans money to an entity (corporate or
governmental), which borrows the funds for a defined period of time at a fixed interest rate.
Bonds are used by companies, municipalities, states and U.S. and foreign governments to
finance a variety of projects and activities. Bonds can be bought and sold by investors on
credit markets around the world. This market is alternatively referred to as the debt, credit or
fixed-income market. It is much larger in nominal terms that the world's stock markets. The
main categories of bonds are corporate bonds, municipal bonds, and U.S. Treasury bonds,
notes and bills, which are collectively referred to as simply "Treasuries." (For more, see
the Bond Basics Tutorial.)

Money Market
The money market is a segment of the financial market in which financial instruments with
high liquidity and very short maturities are traded. The money market is used by participants
as a means for borrowing and lending in the short term, from several days to just under a
year. Money market securities consist of negotiable certificates of deposit (CDs), banker's
acceptances, U.S. Treasury bills, commercial paper, municipal notes, eurodollars, federal
funds and repurchase agreements (repos). Money market investments are also called cash
investments because of their short maturities.

The money market is used by a wide array of participants, from a company raising money
by selling commercial paper into the market to an investor purchasing CDs as a safe place to
park money in the short term. The money market is typically seen as a safe place to put
money due the highly liquid nature of the securities and short maturities. Because they are
extremely conservative, money market securities offer significantly lower returns than most
other securities. However, there are risks in the money market that any investor needs to be
aware of, including the risk of default on securities such as commercial paper. (To learn
more, read our Money Market Tutorial.)

Cash or Spot Market

Investing in the cash or "spot" market is highly sophisticated, with opportunities for both big
losses and big gains. In the cash market, goods are sold for cash and are delivered
immediately. By the same token, contracts bought and sold on the spot market are
immediately effective. Prices are settled in cash "on the spot" at current market prices. This
is notably different from other markets, in which trades are determined at forward prices.

The cash market is complex and delicate, and generally not suitable for inexperienced
traders. The cash markets tend to be dominated by so-called institutional market players
such as hedge funds, limited partnerships and corporate investors. The very nature of the
products traded requires access to far-reaching, detailed information and a high level of
macroeconomic analysis and trading skills.

Derivatives Markets
The derivative is named so for a reason: its value is derived from its underlying asset or
assets. A derivative is a contract, but in this case the contract price is determined by the
market price of the core asset. If that sounds complicated, it's because it is. The derivatives
market adds yet another layer of complexity and is therefore not ideal for inexperienced
traders looking to speculate. However, it can be used quite effectively as part of a risk
management program. (To get to know derivatives, read The Barnyard Basics Of
Derivatives.)

Examples of common derivatives are forwards, futures, options, swaps and contracts-for-
difference (CFDs). Not only are these instruments complex but so too are the strategies
deployed by this market's participants. There are also many derivatives, structured
products and collateralized obligations available, mainly in the over-the-counter (non-
exchange) market, that professional investors, institutions and hedge fund managers use to
varying degrees but that play an insignificant role in private investing.

Forex and the Interbank Market

The interbank market is the financial system and trading of currencies among banks and
financial institutions, excluding retail investors and smaller trading parties. While some
interbank trading is performed by banks on behalf of large customers, most interbank
trading takes place from the banks' own accounts.

The forex market is where currencies are traded. The forex market is the largest, most liquid
market in the world with an average traded value that exceeds $1.9 trillion per day and
includes all of the currencies in the world. The forex is the largest market in the world in
terms of the total cash value traded, and any person, firm or country may participate in this
market.

There is no central marketplace for currency exchange; trade is conducted over the counter.
The forex market is open 24 hours a day, five days a week and currencies are traded
worldwide among the major financial centers of London, New York, Tokyo, Zrich,
Frankfurt, Hong Kong, Singapore, Paris and Sydney.

Until recently, forex trading in the currency market had largely been the domain of large
financial institutions, corporations, central banks, hedge funds and extremely wealthy
individuals. The emergence of the internet has changed all of this, and now it is possible for
average investors to buy and sell currencies easily with the click of a mouse through online
brokerage accounts. (For further reading, see The Foreign Exchange Interbank Market.)

Primary Markets vs. Secondary Markets

A primary market issues new securities on an exchange. Companies, governments and other
groups obtain financing through debt or equity based securities. Primary markets, also
known as "new issue markets," are facilitated by underwriting groups, which consist of
investment banks that will set a beginning price range for a given security and then oversee
its sale directly to investors.

The primary markets are where investors have their first chance to participate in a new
security issuance. The issuing company or group receives cash proceeds from the sale,
which is then used to fund operations or expand the business. (For more on the primary
market, see our IPO Basics Tutorial.)

The secondary market is where investors purchase securities or assets from other investors,
rather than from issuing companies themselves. The Securities and Exchange Commission
(SEC) registers securities prior to their primary issuance, then they start trading in
the secondary market on the New York Stock Exchange, Nasdaq or other venue where the
securities have been accepted for listing and trading. (To learn more about the primary and
secondary market, read Markets Demystified.)
The secondary market is where the bulk of exchange trading occurs each day. Primary
markets can see increased volatility over secondary markets because it is difficult to
accurately gauge investor demand for a new security until several days of trading have
occurred. In the primary market, prices are often set beforehand, whereas in the secondary
market only basic forces like supply and demand determine the price of the security.

Secondary markets exist for other securities as well, such as when funds, investment banks
or entities such as Fannie Mae purchase mortgages from issuing lenders. In any secondary
market trade, the cash proceeds go to an investor rather than to the underlying
company/entity directly. (To learn more about primary and secondary markets,
The OTC Market
The over-the-counter (OTC) market is a type of secondary market also referred to as a
dealer market. The term "over-the-counter" refers to stocks that are not trading on a stock
exchange such as the Nasdaq, NYSE or American Stock Exchange (AMEX). This generally
means that the stock trades either on the over-the-counter bulletin board (OTCBB) or
the pink sheets. Neither of these networks is an exchange; in fact, they describe themselves
as providers of pricing information for securities. OTCBB and pink sheet companies have
far fewer regulations to comply with than those that trade shares on a stock exchange. Most
securities that trade this way are penny stocks or are from very small companies.

Third and Fourth Markets

You might also hear the terms "third" and "fourth markets." These don't concern individual
investors because they involve significant volumes of shares to be transacted per trade.
These markets deal with transactions between broker-dealers and large institutions through
over-the-counter electronic networks. The third market comprises OTC transactions
between broker-dealers and large institutions. The fourth market is made up of transactions
that take place between large institutions. The main reason these third and fourth market
transactions occur is to avoid placing these orders through the main exchange, which could
greatly affect the price of the security. Because access to the third and fourth markets is
limited, their activities have little effect on the average investor.

Financial institutions and financial markets help firms raise money. They can do this by
 taking out a loan from a bank and repaying it with interest, issuing bonds to borrow money
from investors that will be repaid at a fixed interest rate, or offering investors partial
ownership in the company and a claim on its residual cash flows in the form of stock.

A financial market is a market in which people and entities can trade financial securities,
commodities and other fungible assets at prices that are determined by pure supply and
demand principles. Markets work by placing the two counterparts, buyers and sellers, at one
place so they can find each other easily, thus facilitating the deal between them.
There are different types of financial markets and their characterization depends on the
properties of the financial claims being traded and the needs of the different market
participants. We recognize several types of markets, which vary based on the type of the
instruments traded and their maturity. A common breakdown is the following.
Capital market
The capital market aids raising of capital on a long-term basis, generally over 1 year. It
consists of a primary and a secondary market and can be divided into two main subgroups
Bond market and Stock market.

The Bond market provides financing by accumulating debt through bond issuance
and bond trading
The Stock market provides financing by sharing the ownership of a company
through stocks issuing and trading
A primary market, or the so-called new issue market, is where securities such as shares
and bonds are being created and traded for the first time without using any intermediary
such as an exchange in the process. When a private company decides to become a publicly-
traded entity, it issues and sells its stocks at a so-called Initial Public Offering. IPOs are a
strictly regulated process which is facilitated by investment banks or finance syndicates of
securities dealers that set a starting price range and then oversee its sale directly to the
investors

A secondary market, or the so-called aftermarket is the place where investors purchase
previously issued securities such as stocks, bonds, futures and options from other investors,
rather from issuing companies themselves. The secondary market is where the bulk of
exchange trading occurs and it is what people are talking about when they refer to the stock
market. It includes the NYSE, Nasdaq and all other major exchanges.
Some previously issued stocks however are not listed on an exchange, rather traded directly
between dealers over the telephone or by computer. These are the so-called over-the-counter
traded stocks, or unlisted stocks. In general, companies which are traded this way usually
dont meet the requirements for listing on an exchange. Such shares are traded on the Over
the Counter Bulletin Board or on the pink sheets and are either offered by companies with a
poor credit rating or are penny stocks

Money market

The money market enables economic units to manage their liquidity positions through
lending and borrowing short-term loans, generally under 1 year. It facilitates the interaction
between individuals and institutions with temporary surpluses of funds and their
counterparts who are experiencing a temporary shortage of funds.

One can borrow money within a quite short period of time via a standard instrument, the so-
called call money. These are funds borrowed for one day, from 12:00 PM today until
12:00 PM on the next day, after which the loan becomes on call and is callable at any
time. In some cases, call money can be borrowed for a period of up to one week.

Apart from the call money market, banks and other financial institutions use the so-called
Interbank market to borrow funds within a longer period of time, from overnight to
several weeks and up to one year. Retail investors and smaller trading parties do not
participate on the Interbank market. While some of the trading is performed by banks on
account of their clients, most transactions occur in case a bank experiences extra liquidity, a
surplus of funds, while another has a shortage of liquidity.

Such loans are made at the Interbank rate, which is the rate of interest, charged on short-
term loans between banks. An intermediary between the counterparts, called a dealer,
announces a bid and an offer rate with the difference between the two representing a spread,
or the dealers income. The Interbank interest in London is known as LIBOR (London
Interbank Offered Rate) and LIBID (London Interbank Bid Rate). Respectively in Paris we
have PIBOR, in Frankfurt FIBOR, in Amsterdam AIBOR, and Madrid MIBOR
 Foreign exchange market

The foreign exchange market abets the foreign exchange trading. Its the largest, most liquid
market in the world with an average traded value of more than $5 trillion per day. It includes
all of the currencies in the world and any individual, company or country can participate in
it.

Commodity market

The commodity market manages the trading in primary products which takes place in about
50 major commodity markets where entirely financial transactions increasingly outstrip
physical purchases which are to be delivered. Commodities are commonly classified in two
subgroups.

Hard commodities are raw materials typically mined, such as gold, oil, rubber, iron
ore etc.
Soft commodities are typically grown agricultural primary products such as wheat,
cotton, coffee, sugar etc.
Derivatives market

It facilitates the trading in financial instruments such as futures contracts and options used to
help control financial risk. The instruments derive their value mostly from the value of an
underlying asset that can come in many forms stocks, bonds, commodities, currencies or
mortgages. The derivatives market is split into two parts which are of completely different
legal nature and means to be traded.

Exchange-traded derivatives

These are standardized contracts traded on an organized futures exchange. They

include futures, call options and put options. Trading in such uniformed instruments requires
from investors a payment of an initial deposit which is settled through a clearing house and
aims at removing the risk for any of the two counterparts not to cover their obligations.

Over-the-counter derivatives

Those contracts that are privately negotiated and traded directly between the two
counterparts, without using the services of an intermediary like an exchange. Securities such
as forwards, swaps, forward rate agreements, credit derivatives, exotic options and other
exotic derivatives are almost always traded this way. These are tailor-made contracts that
remain largely unregulated and provide the buyer and the seller with more flexibility in
meeting their needs.

Insurance market

It helps in relocating various risks. Insurance is used to transfer the risk of a loss from one
entity to another in exchange for a payment. The insurance market is a place where two
peers, an insurer and the insured, or the so-called policyholder, meet in order to strike a deal
primarily used by the client to hedge against the risk of an uncertain loss.

Online marketing is becoming a hot topic in every business sector, and gradually

plays a truly important role in any companys multi-channel marketing strategy.

It uses the Internet to deliver promotional marketing messages to consumers. It

includes email marketing, search engine marketing, social media marketing, many

types of display advertising (including web banner advertising), and mobile

advertising. Like other advertising media, online advertising frequently involves both

a publisher, who integrates advertisements into its online content, and an advertiser,

who provides the advertisements to be displayed on the publisher's content. Other

potential participants include advertising agencies that help generate and place the ad

copy, an ad server who technologically delivers the ad and tracks statistics, and

advertising affiliates who do independent promotional work for the advertiser.

Tools of Online marketing :

Display advertising - Display advertising conveys its advertising message visually

using text, logos, animations, videos, photographs, or other graphics. Display

advertisers frequently target users with particular traits to increase the ads' effect.

Web banner advertising - Web banners or banner ads typically are graphical ads

displayed within a web page. Banner ads can use rich media to incorporate video,

audio, animations, buttons, forms, or other interactive elements using Java applets,

HTML5, Adobe Flash, and other programs.

Frame ad (traditional banner) - Frame ads were the first form of web banners. The

colloquial usage of "banner ads" often refers to traditional frame ads. Website

publishers incorporate frame ads by setting aside a particular space on the web page.

Pop-ups/pop-unders - A pop-up ad is displayed in a new web browser window that

opens above a website visitor's initial browser window. A pop-under ad opens a new

browser window under a website visitor's initial browser window.

Floating ad - A floating ad, or overlay ad, is a type of rich media advertisement that

appears superimposed over the requested website's content. Floating ads may

disappear or become less obtrusive after a preset time period.

Expanding ad - An expanding ad is a rich media frame ad that changes dimensions

upon a predefined condition, such as a preset amount of time a visitor spends on a

webpage, the user's click on the ad, or the user's mouse movement over the ad.

Expanding ads allow advertisers to fit more information into a restricted ad space.
Interstitial ad - An interstitial ad displays before a user can access requested content,

sometimes while the user is waiting for the content to load. Interstitial ads are a form

of interruption marketing.

Text ads - A text ad displays text-based hyperlinks. Text-based ads may display

separately from a web page's primary content, or they can be embedded by

hyperlinking individual words or phrases to advertiser's websites. Text ads may also

be delivered through email marketing or text message marketing.

Search Engine Marketing (SEM) - Search Engine Marketing, or SEM, is designed

to increase a website's visibility in search engine results pages (SERPs). Search

engines provide sponsored results and organic (non-sponsored) results based on a web

searcher's query. Search engines often employ visual cues to differentiate sponsored

results from organic results. Search engine marketing includes all of an advertiser's

actions to make a website's listing more prominent for topical keywords.

Search Engine Optimization (SEO) -Search Engine Optimization, or SEO, attempts

to improve a website's organic search rankings in SERPs by increasing the website

content's relevance to search terms. Search engines regularly update their algorithms

to penalize poor quality sites that try to game their rankings, making optimization a

moving target for advertisers. Many vendors offer SEO services.

Sponsored search - Sponsored search (also called sponsored links or search ads)

allows advertisers to be included in the sponsored results of a search for selected

keywords. Search ads are often sold via real-time auctions, where advertisers bid on

keywords.
Social media marketing - Social media marketing is commercial promotion

conducted through social media websites. Many companies promote their products by

posting frequent updates and providing special offers through their social media

profiles.

Mobile Advertising - Mobile advertising is ad copy delivered through wireless

mobile devices such as smartphones, feature phones, or tablet computers. Mobile

advertising may take the form of static or rich media display ads, SMS (Short

Message Service) or MMS (Multimedia Messaging Service) ads, mobile search ads,

advertising within mobile websites, or ads within mobile applications or games (such

as interstitial ads, advergaming, or application sponsorship).

Email Advertising - Email advertising is ad copy comprising an entire email or a

portion of an email message. Email marketing may be unsolicited, in which case the

sender may give the recipient an option to opt-out of future emails, or it may be sent

with the recipient's prior consent (opt-in).

Benefits of Online marketing :

Internet gives you a wide access of your potential customers.

It has been estimated that a couple of billion people around

the world use the Internet, and more are becoming aware of

Internet with each passing day. So, marketing your business to

such a large group of people is only possible through Internet.

Internet is the only medium that is able to cross geographic

and national boundaries.

 The cost of promoting your business on the Internet is

cheaper than other mediums of marketing. This makes it

easy for small and mid-sized businesses to advertise their

products.

Internet allows the ability to stay connected with customers

on a real-time basis. If any discount going on, then it is easier

to send an email to customers and they can buy the product

instantly. Internet also allows to send multiple messages at

the same time, which saves the tedious task of sending a

newsletter to every client.

Internet marketing facilitates an instant feedback from

the customers.

Customers can share about their experience after using the product.

Internet marketing saves a lot of time and effort. Instead of

having a customer service representative to answer the

queries of customers, one can put all the information about

the product or service on the Internet so that customers can

go through it. The most common way of doing it is to have a

section dedicated to frequently asked questions (FAQs) about

the product so that customers get all the required

information about the product or the service.

Internet marketing allows your business to be available 24/7,

which means increased sales and profits.

Limitations of Online marketing :

 Although, Internet marketing allows a wider reach, the start-

up costs of a website can be high. This includes the cost of

the required software and hardware, and maintenance costs.

There are still a lot of customers who use the Internet just for having

more information about a product and prefer to buy it in

person. For example,

Internet marketing allows a customer to view how a phone looks like and its technical

specifications, but customers prefer having a look at the phone in the store to get a hands-

on experience.

There are a lot of customers who are not proficient in using

the Internet and focusing solely on Internet marketing can

cause you to lose these customers.

The rules of the trade change rapidly in Internet marketing,

and it requires constant attention and monitoring to ensure

that your marketing strategy does not look out-of-date.

The biggest disadvantage of Internet marketing is its

vulnerability to fraudulent activities. There are a lot of

illegitimate websites out there which look similar to original

websites and rob the customers of their money. Spamming is

also one of the biggest challenges for Internet marketing and

confidential data can be easily stolen by hackers.

Internet marketing lacks the human touch that is involved

when a customer buys a product from a salesperson. This

hampers the prospects of relationship building which plays

an important part in repeat sales and word-of mouth

 publicity.

Internet marketing depends heavily on technology, which is

vulnerable to technical faults. For example, if a customer

clicks on your advertisement but due to a technical glitch, is

unable to buy the product, he may easily become irate and

take his business somewhere else.

Although, there are some challenges involved in Internet marketing, it can be safely

said that Internet marketing has led to increased transparency and ease of buying

products. The need of the hour is to counter the challenges so that Internet marketing

proves to be truly beneficial for all.

This dissertation aims at identifying the importance of integrated marketing

communication followed by the effectiveness of online marketing as a part of

strategy. Therefore the objective of the research is to understand the massive

contribution of Online marketing as a part of Integrated Marketing Communication

and to know its splendid efforts towards promotion in practice and also to find out

some challenges in using online advertising as a tool of Integrated Marketing

Communication. The research objectives are -

i. To understand the importance of Integrated Marketing

Communication.

ii. To understand the importance of Online advertising in

changing market scenario.

iii. To understand the reasons for growing popularity of online

marketing.

iv. To analyze the effectiveness of online marketing as

 compared to traditional marketing tools.

v. To identify the limitations of online marketing as tool.

In order to attain these objectives, the methodology uses descriptive research design.

Data is collected from secondary as well as primary sources. Secondary data

provides necessary theoretical back up to the study which is collected from

published or unpublished sources. Primary data is collected under Survey method

using questionnaire as the main research instrument. Since Customer`s inclination

towards Online marketing is the core focus of the study, a structured & closed

ended questionnaire has been prepared for customers only.

The questionnaire incorporated questions related to customers preference for online

marketing and other traditional mediums for getting awareness on various brands and

making purchase decision. The questionnaire is then distributed among the sample

selected for this study. Stratified probability sampling is used with sample size as 200

within Mumbai suburbs and sample frame as educational institutions & corporate offices.

Data collected is then analyzed with the help of statistical software SPSS 17.0 and Ms-

Excel Add-In Data Analysis. Statistical tools used for the analysis are Mean, Median &

mode, Standard deviation, Skewness & Kurtosis.

Statistical analysis of data put forward following conclusion

Consumers reckon upon more than one medium to get

knowledge of any brand. Due to unlimited brand choices &

price sensitivity, they undertake a detailed evaluation of

various brands by referring more number of sources of

information. So they may be using combination of various

 mediums such as print ads, television commercials, in-store

promotion to know about different aspects of the brand.

Consumers do refer various mediums to get awareness but

highest preference is being given to the online media. Online

media incorporates blogs, online PR, Window displays,

banner ads etc. And consumers today are more exposed to

these forms of online advertising as compared to advertising

through other mediums.

Consumers require more information to take purchase

decision but they do not like to spend much of their time for

purchasing any commodity.

Consumers do require plenty of information to take purchase

decision. This information may increase their knowledge and

assurance on brands attributes & benefits consumers are

likely to gain that will eliminate their confusion in choosing

any particular brand. Once they obtain the required

information on various brands, they take less time in the

purchase of any commodity.

Consumers are well knowledgeable about various usage,

functions and benefits being offered by internet. The

analysis reveals that there is high degree of literacy for

internet usage.

Due to its attribute of making life easier by allowing the

 users to have instant access with every informational,

educational, interactive & entertaining material; Internet is

heavily used medium today.

The most important activities to be done through internet are

social networking as it connects them with others, online

shopping as it offers them convenience of shopping and

media sharing site as it allows them to download their

favorite enticing material such as songs, video, games etc.

Majority of consumers believe that companies should use

online activities in their marketing efforts. Since online

activities facilitate good access and higher reach to the

customers; companies must take this advantage by

incorporating online advertising in their marketing strategy.

Consumers are motivated to use internet as it offers them

products at discounted rates, gives access to exclusive

content such as specific functional & emotional benefits of

the brand, and allows them to give feedback about the brand

directly to the company.

Survey reveals that majority of consumers have stopped

preferring television commercials or print ads to get brand

awareness. Thus the popular traditional

mediums are no longer remained first preference for the consumers to receive

ad messages.
 Consumers like interactive ability of online marketing which

is not applied in case of traditional mediums like print ads,

television commercials or outdoor media. Consumers like to

exchange their views and share their feedback when it

comes to evaluating the brand or for taking purchase

decision.

Though consumers are convinced with advantages of online

activities majority of them still feel that online marketing is

not safe as there is more scope of fraudulent activities

followed by privacy issues. These may include cheating

customers by offering them faulty items, giving wrong

demonstrations, taking confidential information from them

such as bank details, credit card details and misusing the

same.

It is therefore suggested that companies should not only rely on online marketing

but should incorporate it as a part of strategy so that online marketing can have a

wider reach to the customers and its limitations will be repaired with the help of

other traditional tools. As these tools will help to create credibility and trust about

the brand among the consumers so there will be no question of susceptibility about

those brands being endorsed through online media.

The study is limited to Mumbai suburbs only but as a matter of future scope of the

study; it can be extended to the other states of country. This will help to know more

about the effectiveness of online marketing and its contribution in Integrated

Marketing Communication.
 Literature Review

This chapter aims at exploring detailed information on major domains of the dissertation

topic by reviewing past research, books and related articles. Modern studies and past

theories concerning these domains are presented. These theories will be the foundation

for the dissertation.

Since the major domains of research topic are Integrated Marketing Communication &

Online Marketing. The review of literature will revolve around these.

Literature on Integrated Marketing Communication

Philip Kotler & Kevin Lane Keller, Marketing Management, New Delhi, Pearson

Education, 2006, pg. no. 52

Integrated marketing communication can produce stronger message consistency and

greater sales impact. It forces management to think about every way the customer comes
in contact with the company, how the company communicates its positioning the relative

importance of each vehicle and timing issues. It gives some responsibility to unify the

companys brand image and messages as they come through thousands of company

activities. IMC should improve the companys ability to reach right customers, with the

right message, at right time in the right place. Thus personal and non-personal

communication channels should be combined to achieve maximum impact.

Warren J. Keeyan, Global Marketing Management, USA, Prentice-Hall of India

Pvt. Ltd., 2002, pg. no. 3

A revolutionary development in the shift to the strategic concept of marketing is in

the marketing objective from profit to consumer benefits. There is a growing

recognition that profits are a reward for performance (defined as satisfying

customers in socially responsible or acceptable ways). To compete in todays

market, it is necessary to have an employee team committed to continuing

innovation and to producing quality products. In other words, marketing must

focus on the customers and deliver value by creating consumer benefits. This

change is revolutionary idea that is accepted today by a vanguard minority

marketing practitioners.

The idea of integrated marketing communication (IMC) is to create consistency

and synergy by combining marketing communication elements so that they support

and enhance each other, to promote potential communication understandings

(Duncan and Everett, 1993).

Integrating Online & offline marketing together, Fitzpatrick Michele, Direct

marketing, Oct 2003, pg no. 50.

The concept of integrating online & offline marketing to build success is one who

time has come. While many companies still view their online & offline efforts as

separate entities, savvy marketers are slowly realizing that success comes through

integration through all channels to provide consumers with what they demand-

accessibility, choice & convenience.

Viral marketing is an IMC technique that is mostly used for trendy brands;

Marketers are increasing acknowledging Viral marketing as an important IMC tool

because it offers the traditions benefits and effectiveness of advertising. In viral

marketing the organization promotes its product using Word of Mouth Marketing

(WOMM), utilizing individual's communication networks, and relying on their

individual recommendations to sell the product. Companies actively seek viral

marketing, by fueling discussion on their offerings. (Groucutt, J. et al 2004).

As per Don Schultz (2008), IMC is a strategic business process used to

plan, develop, execute and evaluate coordinated, measurable, persuasive brand

communication programmes over time with consumers, customers, prospects, and

other targeted, relevant external and internal audiences. The key difference in this

definition of IMC from that of simple Marketing Communication is highlighted by

use of three words: i) strategic, ii) evaluate and iii) measurable. In essence, IMC

enforces use of marketing communication mix in such a way that it is strategically

designed to achieve certain objectives, measured to enforce accountability over

marketers and are evaluated over time. These elements are also stressed on by

various IMC authors (Schultz, 1996; Duncan & Caywood, 1996), who believe that

although the concept of IMC is not new, but the fact that previously marketing

communication was not coordinated strategically and strategy is now believed

critical, gives this concept a new look.

In another definition of IMC given by a well-known author on IMC literature,

Kliatchko (2005) reflects the same concept. As per the author, IMC is the concept

and process of strategically managing audience-focused, channel-centered and

results-driven brand communication programmes over time. This definition is a bit

more specific and along with strategy and accountability it emphasizes specifically

on communication being channel-centered and audience-focused. Managing and

coordinating the integration of companys communication across different media

and channels is an important aspect of IMC. IMC does involve a process/plan

aimed at providing consistency and impact through integration of communication

via different mediums (Larich & Lynagh, 2009).

Kitchen and Schultz (1997) believe that integrated marketing communication has

significant value for the organization, specifically in lowering costs and having

greater control over the marketing communication program. This is supported by

Duncan and Everett (1993) who extend the benefits to include gaining competitive

advantage through IMC.

Radio, Newspapers, however, now the future of marketers appears to be digital as

technology has become an important part of daily lives (Pall & McGrath, 2009).

Concepts like convergence have come in to bring more versatility in the

communication mediums being used. Convergence represents a paradigm shift a

move from medium specific content towards content that flows across multiple

media channels, towards the increased interdependence of communication systems,

towards multiple ways of accessing media content, and towards ever more

complex relations between top-down corporate media and bottom-up participatory

culture.(Jenkins, 2006)
According to Kotler & Armstrong (2003), there are five traditional IMC elements

quoted as Advertising, Sales Promotion, Direct marketing, Personal selling and

Publicity/Public relations. According to Institute of Practitioners in Advertising

(IPA), Advertising refers to "the means of providing the most persuasive possible

selling message to the right prospects at the lowest possible cost". Kotler and

Armstrong (2003), provide an alternative definition: "Advertising is any paid form

of non-personal presentation and promotion of ideas, goods and services through

mass media such as newspapers, magazines, television or radio by an identified

sponsor".

According Perkin (2003) as media-blitzed, ad-cynical, time-poor, channel-

flicking audience living in a fast-paced, attention-challenged world The fact is

that due to fast pace of technology, and globalization of the world, consumer

behavior around the world is changing. Today customers have more control over

what to see, and read and therefore IMC need to tailor the organization campaign

as per the requirements of the market.

IMC tries to maximize the positive message and minimize the negative once and

communicate them using the proper tools. A successful IMC program uses the

combination of the right tools, define their role and coordinate their use. The

company should use the contact method that offers the best way of delivering the

message to the target audience. (Duncan, 2002)

IMC supports the AIDA model where in it helps to gain attention of consumers,

generate interest, create desire, and result in purchase action.

AIDA model developed by Elmo Levis is the set of stair step stages, describes the stages

through which every potential customer passes till the act of purchase.

This basic model guides the copywriters in writing persuasive copy. AIDA is an acronym

of

Attention grab the attention of target audience and attract them towards ad

message. It leads to generate -

Interest in the central theme of the ad that presents a forceful selling point,

which arouses

Desire to give positive response and act in a favourable manner that ultimately

leads to

Action of purchasing product or making an inquiry for the product.

Tools of IMC

As stated earlier, more and more resources are allocated away from the traditional

mass media advertising and used on other communication tools. This allocation of

communication budgets is deeply connected to the appearance of, and is the major

part of IMC. (Holm, 2006)

The classic tools

It is very seldom that companies use one tool of marketing communication.

Companies have used a mix of tools for a long time but that does not mean that

they are practicing IMC. The difference when using IMC is the strategy behind the

use and how the mix is coordinated. Duccan (2002) lists the different tools or

functions as advertising, public relations, sales promotion, the personal connection

(direct response & personal sales) and experimental contacts (events & sponsorships).

Advertising

Mass media advertising, or the awareness builder, consists of non-personal, one way,

planned messages paid for by an identified sponsor and disseminated to a broad audience

in order to influence their attitudes and behavior. (Duncan, 2002,

p. 506). Advertising is the most common of all the IMC tools and this is equal to

marketing for many people. It is a very broad tool and primary objective is to create

awareness.

Personal selling

Personal selling is defined as Two way communication in which a seller interprets brand

features in terms of buyer benefits. (Duncan, 2002, p. 617). Also called the face-to face

function, it involves one-to-one marketing using face to face communication. Before,

personal selling was focused primarily on sales, but now has to focus on salving

problems and adding value.

Public relations

Also called as credibility builder, public relations seek to affect the public opinion

as well as company stakeholder. It can be a concept, a profession, and a

management as well as a practice. Public relation can create a goodwill and a

positive understanding between an organization and its stakeholders. Marketing PR

is defines as non-paid media to deliver positive brand information designed to

positively influence costumers & prospects. (Duncan, 2002, p. 543)

Sales promotion

Sales promotion [SP] and the value added communication, is a communication tool

that encourages people to action by adding value. It is a short term, added- value

offer designed to encourage and accelerate a response (Duncan, 2002, p. 569). SP

can be coupons, price reductions, rebates to name a few and is used to persuade the

customers to buy or motivate in other stages of the decision process. Important to

know is that it works in the short term.

Events & sponsorship

Event marketing & sponsorship are not the same but they overlap and have many

things in common. They are designed to create involvement and are effective to

bond customers to a brand or company. Event marketing a used to involve,

increase awareness, reach audience and gain publicity. Sponsorships have

increased over the year and both differentiate and add value. The definition is the

the financial support of an organization, person or an activity in exchange of

brand publicity and association. (Duncan, 2002, p. 640)

Internet (the contemporary tool of marketing)

The advances in technology has led to one of the most dynamic and revolutionary

changes in the history of marketing, the dramatic changes in communication using

interactive media such as Internet. Interactive media allows communication on a

two way form instead of one way communication. And a two way communication

plays vital role in IMC. (Belch, Belch, 2001)

Mohammed Bin Afif (2012) believes that the power of ideas; integration across all media: The

P's of the marketing mix are argued by some to be the four C's, with communication replacing

promotion. This article champions communication as an effective tool in marketing. Within the

marketing sphere there are many mediums by which advertising messages can be conveyed to

consumers. The marketing manager must utilize all of the mediums in their thinking in order to

determine the right mix of mediums to use and in the right frequency in each to best convey

their message to the selected target market.

This article argues that mediums must work together for a unified message to be conveyed to

consumers with a feedback mechanism in place for consumers and the organization to be

involved in two-way communication. Also stated is the importance of word-of-mouth

communication, which is often overlooked by marketing managers. This ties in closely with

integrated marketing communication as the mediums must come under one umbrella, or

message to be communicated, that covers all the mediums used to ensure a single clear

message is communicated to consumers.

Barents Group LLC (1997) studied that Indias household savings and foreign investors are
key sources of this capital and can and will be increasingly attracted to more efficient, safe and
transparent market. Retail investors in India are mostly short-term traders, and day trading is
not uncommon. To the extent that buying publicly traded equities is perceived as a risky and
speculative short-term activity, many potential investors will simply avoid capital market
instruments altogether in deciding to allocate savings.

R. Dixon and R.K. Bhandari (1997) said in their study that consequently derivative
instruments can have a significant impact on financial institutions, individual investors and even
national economies. Using derivatives to hedge against risk carries in itself a new risk was
brought sharply into focus by the collapse of Barings Bank. There is a clear call for
international harmonization and its recognition by both traders and regulators. There are calls
also for a new international body to be set up to ensure that derivatives, while remaining an
effective tool of risk management, carry a minimum risk to investors, institutions and
national/global economies. Considers the expanding role of banks and securities houses in the
light of their sharp reactions to increases in interest rates and the effect their presence in the
derivatives market may have on market volatility.

Patrick McAllister and John R. Mansfield (1998) stated that derivatives have been an
expanding and controversial feature of the financial markets since the late 1980s. They are used
by a wide range of manufacturers and investors to manage risk. This paper analyses the role and
potential of financial derivatives investment property portfolio management. The limitations
and problems of direct investment in commercial property are briefly discussed and the main
principles and types of derivatives are analyzed and explained. The potential of financial
derivatives to mitigate many of the problems associated with direct property investment is
examined.

Yoon Je Cho (1998) showed in his study that increasing turnover figures in the Indian stock
exchanges from 1994-95 to 1996-97, implying that they are dominated by speculative
investments, which is not unusual in emerging markets. However, trading volumes in the Indian
capital market are fairly large compared to those in other emerging markets. The substantial
increase in turnover may be attributed primarily to the expansion of the NSEs

trading network. But this also reflects the fact that the Indian stock market is dominated by
speculative investments for short-term capital gains, rather than long-term investment.

Abdulla Yameen (2001) delivered massage, investors will need to be alert to any new
development in capital market and take advantage of the Investor Education and Awareness
Campaign program which to be undertaken by the Capital Market Section to acquaint of the
risks and rewards of investing on the Capital market.Speech was also focused on to create a
new breed of financial intermediaries, which will deal on the market for their clients. These
intermediaries have to be professionals with quite advanced knowledge on stock exchange
operations, techniques, law and companies valuation. Investors depend to a large extent on their
professional advice when investing on the market. Furthermore, these intermediaries must be
men of integrity and honesty as they would deal with clients money Confidence of investors in
these professionals is a key to the success of the capital market.

Makbul Rahim (2001) argued in his speech that the regulatory framework must provide the
right environment for the development and the growth of the market. High standards of probity
and professional conduct have to be maintained and reach world class standards. Integrity is
very important as well confidence. The development of a proper free flow of information and
disclosure helps investors to make informed investment decisions.

P. M. Deleep Kumar and G. Raju (2001) showed that the capital market is becoming more
and more risky and complex in nature so that ordinary investors are unable to keep track of its
movement and direction. The study revealed that the Indian market is probably more volatile
than developed country markets, which is probably why a much higher proportion of savings in
developed countries go into equities. More than half of individual shareowners in India
belonged to just five cities. The distribution of share ownership by States and Union Territories
show that just five States accounted for 74.7 per cent of the countrys share ownership
population and 71.7 per cent of the aggregate value of the shareholdings of individuals in India.
Among the five States Maharashtra tops the list with Gujarat as a distant second followed by
West Bengal, Delhi and Tamil Nadu. In the midpoint of the study also argued that introduction
of derivatives is the first step to hedge the risk of unfavourable movement in the market. This
will also lower transaction cost and provides depth and liquidity to the market.
Peter Carr and Dilip Madan (2001) disclosed that generally does not formally consider
derivatives securities as a potential investment vehicles. Derivatives are considered at all, they
are only viewed as tactical vehicles for efficiently re-allocating funds across broad asset classes,
such as cash, fixed income, equity and alternative investments. They studied that under
reasonable market conditions, derivatives comprise an important, interesting and separate asset
class, imperfectly correlated with other broad asset classes. If derivatives are not held in our
economy then the investor confines his holdings to the bond and the stock and the optimal
derivatives position is zero.
Prof. Peter McKenzie (2001) in his speech at seminar investors have a choice instead of
placing their money in only one company they can pick areas of growth and move their money,
buying and selling and placing it where it is going to be most profitable. The individual investor
does not have to make an individual decision where to place his savings. These decisions are
made by an expert fund manager, which would spread the risk by spreading the investments
across different sectors of the economy.

Hong Kong Exchanges and Clearing Ltd. (2002) surveyed on derivatives retail investors, and
argued first based on empirical evidence that years of trading experience and usual deal size
have a positive correlation. Second, Male investors traded to trade more frequently than female
investors. Third, the usual deal size of investor with higher personal income traded to be larger.
Fourth majority of respondents are motivated by their stock trading experience to start
derivatives trading. Fifth, trading for profit is the key reason for derivatives trading other

than high rate of return, hedging, etc. Sixth, the most significant motivating factors are more
liquid market and more transparent market. Seventh, majority of traders are infrequent in trade-
3 times or less in a month and Index futures is the most popular product to trade most
frequently. Ninth, a large proportion of the investors invest in exchange cash products than
derivatives or investment avenues.

Through empirical evidence form investors opinion, study argued that the liquidity of
derivatives products other than futures is low. High transaction costs or margin requirement is
the barrier for active participation in derivatives market. But also shows that more active traders
do not have much complaint towards transaction costs and margin requirement.

S. M. Imamual Haque and Khan Ashfaq Ahmad (2002) argued that the sluggish trends in
primary equity markets need to be reverse by restoring investors confidence in market.
Savings for retirement essential seek long term growth and for that investment in equity is
desirable. It is a well established fact that investments in equities give higher returns than debt
and it would, therefore, be in the interest of the banks to invest in equities.
Warren Buffet (2002) argued that derivatives as time bombs, both for the parties that deal in
them and the economic system. He also argued that those who trade derivatives are usually
paid, in whole or part, on earnings calculated by mark-to-market accounting. But often there
is no real market, and mark-to-model is utilized. This substitution can bring on large- scale
mischief. In extreme cases, mark-to-model degenerates into mark-to-myth.Many people argue
that derivatives reduce systemic problems, in that participant who cant bear certain risks are
able to transfer them to stronger hands. He said that the derivatives genie is now well out of the
bottle, and these instruments will almost certainly multiply in variety and number until some
event makes their toxicity clear.

Swarup K. S. (2003) empirically found that equity investors first enter capital market though
investment in primary market. The main reason for slump in equity offering is lack of investor
confidence in the primary market. It appeared from the analysis that the investors give
importance to own analysis as compared to brokers advice. They also consider market price as
a better indicator than analyst recommendations. Accordingly number of suggestive measures in
terms of regulatory, policy level and market oriented were suggested to improve the investor
confidence in equity primary markets.

Leyla enturk Ozer, Azize Ergeneli and Mehmet Baha Karan (2004) studied that the risk
factor is one of the main determinants of investment decisions. Market participants that are
rational investors ultimately should receive greater returns from more risky investments. They
also concluded that the crisis and resulting deep recession in 2002 changed many things,
including market confidence of investors and financial analysts. In addition to decreasing
trading volume of Istanbul Stock Exchange (ISE), the number of individual investors reduced
and investment horizon of investors shortened and liquid instruments.

JenniferReynolds-Moehrle (2005) used a sample of derivative user and non-user firms; they
came to know that analysts forecast accuracy increased and that unexpected earnings are
incorporated into subsequent earnings forecasts to a greater extent subsequent to disclosure of
sustained hedging activity. Additionally, the findings indicated an increase in the earnings-
return relation in the hedging activity period.
Rajeswari, T. R. and Moorthy, V. E. R. (2005) said that expectations of the investors
influenced by their perception and human generally relate perception to action. The study
revealed that the most preferred vehicle is bank deposit with mutual funds and equity on fourth
and sixth respectively. The survey also revealed that the investment decision is made by
investors on their own, and other sources influencing their selection decision are news papers,
magazine, brokers, television and friends or relatives.

Chris Veld and Yulia V. Veld-Merkoulova (2006) found that investors consider the original
investment returns to be the most important benchmark, followed by the risk-free rate of return
and the market return. Study found that investors with longer time horizon would generally be
better off investing in stocks compared to investors with shorter time horizon. They knew
through the question on risk perceptions that investors who are more risk tolerant would benefit
from relatively larger investment in stocks. Their study showed the investors optimize their
utility by choosing the alternative with the lowest perceived risk.

G.N.Bajpai (2006) showed that continuously monitors performance through movements of

share prices in the market and the threats of takeover improves efficiency of resource utilisation
and thereby significantly increases returns on investment. As a result, savers and investors are
not constrained by their individual abilities, but facilated by the economys capability to invest
and save, which inevitably enhances savings and investment in the economy. Thus, the capital
market converts a given stock of investible resources into a larger flow of goods and services
and augments economic growth. The study concluded the investors and issuers can take
comfort and undertake transactions with confidence if the intermediaries as well as their
employees (i.) follow a code of conduct and deal with probity and (ii) are capable of providing
professional services.

K. Nayak (2006) interpreted the preferred mode of investment is first equity, banks, mutual
fund and then any other in a descending order. It means Investors faith has increased and their
risk taking ability has also increased.
 RESEARCH METHODOLOGY

The research design and methodology is presented as follows

Data collection:
The task of data collection begins after a research problem has been defined and
research design has been chalked out.
While deciding about the method of data collection to be used for the study, the
research should keep in mind two types of data viz. Primary and Secondary.

Sources of data

a) Primary Data.

b) Secondary Data.

Primary data:

The observation method is the most commonly used method. Data pertaining to digital marketing
process and most of information is collected from project guide in the company. Questionnaire
method is also very widely used in order to give a structure to the entire study.

Secondary data:
Secondary data is collected from already existing sources in various organization broachers &
records. Secondary data for the study were collected from the magazines, websites & other
previous studies. To meet the objectives, the study used qualitative research. The descriptive
study was done through review of existing literature that helped in validation and extraction of
the important variables and factors. Data was collected from secondary sources. Secondary
sources were magazines, websites, books, office executives, and company data.

Conclusion
Despite the technological upheavals of the twenty-first
century, the financial services industry remains one of
American industrys least sophisticated marketers. When the
Medici conducted banking business with the pope in the 14th
and 15th centuries, they used personal contacts and
reputation to generate deals. The investment-banking
industry still operates pretty much the same way. True,
certain segments of the financial industry have been
marketing innovators; banks, for example, were among the
first to adopt customer relationship management (CRM)
systems to track customer behavior. Nevertheless, a large
portion of the industry is only beginning to move from a sales
model to a marketing modela move consumer products
manufacturers ...

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