Nov 11, 2008

Modicare Ltd MLM & Network Marketing Opportunity- A Review


Author Anand Naidu Is not and never was a distributor of Modicare Ltd. The report is from a collection of reliable data and must not be interpreted as means of promotion or demotion of the company concerned.



Part of the KK Modi Group and one of the pioneer network marketing companies in India. Claims to have started operation in 1996 with 400 consultants in Delhi .Present in over 39 cities with over 10 lac consultants across the country. Pat of the executive committee of IDSA.

In Business Since:
1996 (as per Company Website)


Financial Strength:
Worth 180crores in 2002.


Management:

Part of the KK Modi Group and one of the pioneer network marketing companies in India had a pretty solid management team. Present. Not to be seen anymore. The fact that the main company site has been reported an attack site by Google, AL the same the company management is ignorant.


Online Training & Support:

Not Al yet there online. Heavily focused on business promotion through traditional means. As part of the marketing strategy, the company has designed a mini supermarket, with branding in the form of a neon signage and display panels that facilitate easy and quick access. Training events are a held in hotel and halls.


Motivational Support:

Excellent corporate sponsored conventions and distributor lead regional events. These events are held by top Modicare consultants, who are among the highest income earners in the industry, with huge organizations.


Products/Services:

  • Product Range Includes
  • Agricultural
  • Auto care
  • Cosmetic and skin care
  • Home care
  • Nutrition health and wealth
  • Personal care
  • Triactiv products


Compensation Plan:

Retail through merchandising up to 28%
whole sale profit through sponsoring 3%-21% The commission starts as 3% for 166BV sale and double for following sales of prefixed value
Ex
3%- 1600
6%- 8000
9%-16000
12%-32000
15%-64000
18%-105600
21%-160000

Apart from these two you have the royalty bonus and leadership rewards and referral Fee which is bajaj allianz insurance.


Advantages:
  • Daily consumable products
  • Affordable price
  • Old and stable company


Disadvantages:

Little or No online support
Compensation plan is very ordinary with minimal consideration for fast start bonus


Controversy:


Being Such an old company it has been under the realm of controversies but the company has been very supportive of the distributors in over coming them


Comments:


Old is what i can say. The company seriously need to think of new product launches and market pre launches to be back in the hunt. Firstly they need to remake their Website Site.

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