INTERNSHIP REPORT ON FINTECH STARTUPS OF INDIA

A SUMMER INTERNSHIP REPORT

Submitted by

ANURUP GOLUI

Registration No: 12324136

in partial fulfilment of Summer Internship for the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

Mittal School of Business

LOVELY PROFESSIONAL UNIVERSITY

Phagwara, Punjab

June – July, 2024

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 CERTIFICATE

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 LETTER OF APPRICIATION

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 MITTAL SCHOOL OF BUSINESS, LPU
Industry Feedback Form & Attendance

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 DECLARATION

I, Anurup Golui hereby declare that the work presented herein is genuine work
done originally by me and has not been published or submitted elsewhere for the
requirement of a degree programme. Any literature, data or works done by others
and cited within this dissertation has been given due acknowledgement and listed
in the reference section.

Anurup Golui

Reg. No.:- 12324136

Date:- 31.08.2024

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 ACKNOWLEDGEMENT

Words shall not be enough to describe my feeling of gratitude, and yet an attempt will be
made to convey a sense of heartfelt thanks to all who supported and encouraged me
throughout the course of this project. This piece of work reflects the invaluable guidance,
inspiration, and assistance I have received from many individuals who have played an
important role in shaping my academic journey thus far.

I would like to avail myself of this opportunity to thank Lovely Professional University for
making summer training an integral part of the MBA curriculum. It would have been an
uphill task to complete this project without the endless support of Mittal School of Business,
LPU. I am highly indebted to the persistence and unrelenting support given by the members
of this department to make this project a reality; it would be a lapse on my part not to
acknowledge their contributions.

I am deeply indebted to Laxami Ma'am, the HR Manager at SEMS Welfare Foundation,

whose guidance and gentle encouragement provided immense support for the successful
completion of this project. In fact, her availability and readiness to help whenever needed
was worth more than its weight in gold.

I am also grateful to the respondents who took out precious time and shared their views in
response to my survey. Their cooperation has been fundamental to the success of this
project.

I would also like to thank my friends, whose discussions and insights added a lot to my
learning. Their encouragement has also served as a source of strength throughout.

Last but not least, I would like to thank God for the continued blessings He has given me
despite my shortcomings.

To all those who contributed-thought not all are mentioned by name-none are
forgotten. You have made this journey possible.

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INDEX: -

SR NO TOPIC Pg No
1 INTRODUCTION OF THE INDUSTRY AND
ORGANIZATION 8-13
2 INTRODUCTION OF THE TOPIC AND PROBLEM
STATEMENT
14-16
3 REVIEW OF LITERATURE AND BEST PRACTICES
17-24
4 RESEARCH METHODOLOGY
25-29
5 DATA ANALYSIS AND INTERPRETATION
30-38
6 DESCRIPTION OF ASSIGNED WORK
39-49

7 RECOMMENDATIONS AND CONCLUSION

50-54

8 REFERENCES AND BIBLIOGRAPHY

55-56

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CHAPTER NO 1
INTRODUCTION OF
THE INDUSTRY
AND
ORGANIZATION

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INTRODUCTION OF THE INDUSTRY: -
[Non-Governmental Organizations (NGOs)]
Non-Governmental Organizations (NGOs) are non-profit entities independent of governmental
influence. They are organized on a local, national, or international level to address issues in
support of the public good. NGOs play a critical role in social development, humanitarian aid,
and advocacy, focusing on various issues like human rights, environmental conservation, health,
education, and poverty alleviation.

• Historical Background

The concept of NGOs dates to the 19th century, with the rise of voluntary organizations
dedicated to social reform and humanitarian aid. The term "Non-Governmental Organization"
was officially coined by the United Nations in 1945, following World War II, to describe
organizations that were not part of the government but participated in international activities.
Over the decades, NGOs have grown in number and influence, becoming key players in global
development and advocacy.

• Types of NGOs

Here are some common types:

1. Advocacy NGOs: Focus on raising awareness and influencing policies on specific issues
such as human rights, environmental protection, and social justice.

2. Operational NGOs: Primarily concerned with the design and implementation of

development projects, providing services such as healthcare, education, and disaster
relief.

3. Community-Based Organizations (CBOs): Operate at a local level, involving

community members directly in their initiatives to address local issues.

4. National NGOs: Operate within a specific country, focusing on national-level issues and
development.

5. International NGOs (INGOs): Operate across multiple countries, often addressing

global issues like climate change, poverty, and human rights.

• Structure and Governance

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NGOs are typically structured in a way that promotes transparency, accountability, and
participation. They are governed by a board of directors or trustees responsible for overseeing the
organization's mission, finances, and strategic direction. Staff and volunteers carry out the day-
to-day activities, often working closely with beneficiaries and stakeholders.

• Funding and Sustainability

NGOs rely on various sources of funding to sustain their operations, including:

1. Donations: Contributions from individuals, corporations, and philanthropists.

2. Grants: Financial support from governments, foundations, and international

organizations.

3. Membership Fees: Fees collected from members or supporters of the NGO.

4. Fundraising Events: Events organized to raise funds and awareness for the NGO's
cause.

5. Partnerships: Collaborations with other organizations and institutions to pool resources

and expertise.

• Impact and Success Stories

NGOs have made significant contributions to global development and humanitarian efforts.
Success stories include the eradication of diseases like smallpox, the provision of education
and healthcare in remote areas, and the promotion of environmental conservation and
sustainable development practices. Notable NGOs such as Amnesty International,
Greenpeace, and Doctors Without Borders have achieved remarkable milestones in their
respective fields, showcasing the potential of NGOs to effect positive change.

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 INTRODUCTION OF AN ORGANIZATION: -

[SEMS WELFARE FOUNADATION]

SEMS Welfare Foundation is a professional, Not for Profit Company registered under Section
8 of Companies Act, 2013 bearing Registration NumberU80904DL2019NPL347912. SEMS
registered with CSR SEMS registered with NITI Aayog, MSME, MPCON, DDU GKY and
Institute of Entrepreneurship (IED) – Uttar Pradesh. SWF is recognized as a Start-up by the
Department of Industrial Policy and Promotion (DIPP), MCI. Also, recognition as Best Service
Award for Significant National Contribution from ITS Education Group.

OBJECTIVES: -

• International Cooperation: Build partnerships and collaborations to address

global issues, fostering a spirit of unity and shared responsibility across nations.

• Education: Increase access to quality education for all, ensuring that every
individual, regardless of background or circumstance, has the opportunity to learn and
grow.

• Women Empowerment: Equip women with the skills, resources, and

confidence to become leaders and active participants in society, promoting gender
equality and inclusivity.

• Skill Development & Entrepreneurship: Foster a culture of

entrepreneurship and equip individuals with the necessary skills to secure sustainable
livelihoods, driving economic growth and innovation.

• Environment Protection: Advocate for sustainable practices and environmental

conservation efforts, ensuring a healthier planet for future generations.

• Culture: Celebrate and preserve cultural heritage, fostering understanding,

tolerance, and respect for diverse traditions and practices.

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 • Mission: -
To empower individuals and communities towards a more just, equitable, and sustainable
future by fostering excellence in education, social welfare, and environmental stewardship.

• Vision: -
SEMS Welfare Foundation envisions a world where everyone has the opportunity to reach
their full potential and contribute to a thriving society.

SEMS INITIATIVES: -

• DIGISAKSHAM: -
DIGISAKSHAM by SEMS Welfare Foundation offers extensive courses and training for
various age groups. They’re skilling inmates in Haryana and training students and faculty. In
partnership with Bank edge, they’ve placed many candidates in private banks.

• FEMLEADS: -
FEMLEADS by SEMS Welfare Foundation shares female entrepreneur stories through
workshops and newsletters on Women Empowerment. They provide programs in digital
literacy, marketing, and career development across several states, impacting many women

SEMS CORE SERVICE: -

• Leadership Development Programs: - Their comprehensive leadership programs
are designed to empower women with the skills, knowledge, and confidence needed to
excel in leadership roles. They offer workshops, seminars, and one-on-one coaching
tailored to meet individual needs and aspirations.

• Mentorship and Coaching: -Fem Leads connects aspiring female leaders with
experienced mentors who provide guidance, support, and insights. Their mentorship

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 program fosters personal and professional growth, helping women navigate their career
paths successfully.

• Networking Events: - They organize regular networking events that bring together
women from various industries and backgrounds. These events provide opportunities to
build meaningful connections, share experiences, and explore potential collaborations.

• Skill Development Workshops: - Their skill development workshops cover a wide

range of topics, including communication, negotiation, conflict resolution, and more.
These workshops are designed to enhance essential skills that are crucial for personal and
professional success.

• Career Advancement Resources: - Fem Leads offers a variety of resources to

support women in their career advancement, including resume reviews, interview
preparation, and job search strategies. Their goal is to help women achieve their career
aspirations and reach new heights.

• Advocacy and Awareness Campaigns: -They are committed to advocating for

gender equality and raising awareness about issues affecting women in the workplace.
Their campaigns aim to drive positive change and create more inclusive and equitable
environments for all.

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CHAPTER NO 2
INTRODUCTION OF
THE TOPIC AND
PROBLEM
STATEMENT

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 INTRODUCTION OF THE TOPIC
[The Impact of Celebrity Endorsements on Students' Brand Image Perceptions
]

Today's marketplace is one where competitions between brands are brutal and consumer
attention is the ultimate asset; marketing strategies have changed into more innovative and far-
reaching forms. One strategy that has grown in popularity in recent years is celebrity
endorsement. Companies do this through partnerships with a popular personality, such as movie
actors, athletes, musicians, or social media personalities, to help market certain products or
services. The underlying belief here is that the fame of the celebrity, as well as his credibility
and influence, transfers to the brand and that it enhances its image in order to attract a bigger
audience.

These endorsements by celebrities are primarily evident in the fields of fashion, technology,
sports, and the entertainment industry, where consumer perception of the brand is harnessed
onto the image and identity of the brand. The rationale for placing a product with a celebrity is
to develop a positive image related to desirable traits or lifestyles that will connect with the
aspirations of target customers.

Among different consumer segments, students are one of the larger and vibrant groups. Young,
impressionable, and socially linked, students easily get swayed by the directions of trends and
peers' opinions, and also by the media. Their consumption is not only dictated by their personal
preference but also by what their role models think, which may include celebrities. Therefore,
celebrity-linked promotional campaigns targeting students are relatively common, whereby the
brands attempt to use the 'pull' effect created by celebrities on this demographic group.

However, celebrity endorsement for changing students' perceptions of brand imagery is not quite
as straightforward, effective, and easy. While some believe that celebrity endorsements bring an
almost incomparable boost in a brand's appeal and credibility, others think it might be
superficial or short-lived since students move on to the next trend or celebrity in the twinkling of
an eye. Also, the moot question is whether students feel that the endorsed brand is superior or if
their interest in the product is because the celebrity is associated with the product.

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PROBLEM STATEMENT: -
Even though the usage of celebrity endorsements is a very popular approach in marketing
campaigns directed towards students, little is known about how such endorsements influence the
student perception of a brand's image. In particular, it has to be established whether celebrity
endorsements lead to a better long-term impression of the brand, or whether the execution of such
campaigns only leads to temporary awareness and interest in the brand.

The main problem that this research tends to investigate is the effect of celebrity endorsements on
the brand image perceptions of students. Are the brands endorsed by celebrities perceived among
students to be more trustworthy, of higher quality, and more desirable? Or are perceptions more
influenced by other factors in view, such as the product's inherent qualities, its price, peer
recommendations, or social media reviews? This research will also find out if the type of celebrity
used-for instance, by profession, popularity, or relevance to the product-is important to influence
the brand perceptions among students.

Knowing this would be important for brands that spend a lot on celebrity endorsement as a
marketing strategy. Where the endorsements yield a substantial improvement in brand image and a
better brand loyalty situation among the students, brands can confidently continue with this
approach. However, in cases when the effect is found to be minimal or short-term, then the brands
might consider their investment in celebrity endorsement as a liability and may consider
alternatives to reach their targeted audience of students.

This research, therefore, covers the gap left by other studies with a wide analysis of how celebrity
endorsement affects the student's perception about brand image. The results would be useful to
marketers/brand managers in devising more effective and focused strategies to reach the student
market.

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CHAPTER NO 3

REVIEW OF
LITERATURE AND
BEST PRACTICES

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REVIEW OF LITERATURE AND BEST PRACTICES

YEAR:2024

1. TITLE: “The Influence of Celebrity Endorsement and Brand Image on Purchase

Intention: The Role of Brand Awareness as an Intervening Variable”
Author: Wahyu Noer Hidayat Putra Yuwana Wuryanin gsih Dwi Lestari OBJECTIVES:
Investigate the impact of celebrity endorsement and brand image on purchase intention.
Examine the mediating role of brand awareness in the relationship between celebrity
endorsement or brand image and purchase intention. Understand the consumer behavior
and purchase decisions.
SAMPLE SIZE: 255
VARIABLE USED: Celebrity Endorsement, Brand Image, Brand Awareness,
Purchase Intention
OUTCOMES: Significant influence of brand awareness on purchase intent ion.
Significant influence of brand image on brand awareness. Significant influence of
celebrity endorsement on purchase intention. Lack of significant influence of brand
image on brand awareness and purchase intention.

2. TITLE: Brand Image Moderates the Impact of Celebrity Endorsement, Social Media Advertising,
and Customer Experience on Purchase Intention
Author: Wibisana, Miswanto, and Gusmao.
Objectives: The objective of the study is to investigate how brand image moderates theinfluence
ofcelebrity endorsement, social mediaadvertising, andcustomer experience onpurchase intention.
Sample: 184
Variables: Celebrity endorsement, Social media advertising, Customer experience, Brand image,
Purchase intention
Outcomes: Brand image mode rates the effect of celebrity endorsement on purchase intention.
Brand image mode rates the influence of social media advertising on purchase intention. Brand
image does not moderate the influence of customer experience on purchase intention.

3. TITLE: The Effect of Celebrity Endorsers and Brand Image on Purchasing Decisions
for MakeOver Cosmetic Products in Bandar Lampung
Author: Briggite Loren Panggabe an. , Dora Rinova
Objectives: The case study aims to explore how celebrity endorsers and brand image
impact purchasing decisions for make Over cosmetics in Bandar Lampung. It seeks to
understand consumer behavior in the cosmetics market and provide insights for
marketing strategies. Additionally, it aims to contribute to brand management
practices and guide future research in this field.
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 Sample: 200
Variables: Celebrity Endorsers, Brand, Image, Purchasing Decisions
Outcomes: The study found that celebrity endorsers positively influence purchasing
decisions for MakeOver cosmetics in Bandar Lampung. Similarly, brand image also has
a significant positive impact on purchasing decisions. Collectively, both celebrity
endorsers and brand image play a crucial role in shaping consumer behavior. These
findings offer valuable insights for marketing strategies and brand management in the
cosmetics industry.

4. TITLE: The Influence of Celebrity Endorsers on Brand Image, Quality of Service, and
Buying Decisions
Author: Rosmalina, Osly
Objectives: To investigate the correlation between celebrity endorsers, brand image,
quality of service, and consumer trust, and their influence on consumer buying decisions
in the context of Disney+ Hotstar. This research aims to provide valuable insights for
optimizing marketing strategies in the digital streaming industry.
sample: 200
Variables: Celebrity Endorser 2. Brand Image 3. Quality of Service 4. Consumer Trust 5.
Buying Decisions
Outcomes: The case study examines the influence of celebrity endorsers, brand image,
and service quality on consumer trust and purchasing decisions in the context of Disney+
Hotstar. Through quantitative analysis, it identifies significant correlations between
certain variables, contributing to marketing strategy optimization in the digital streaming
industry. The findings provide valuable insights for companies seeking to enhance
consumer trust and drive buying behavior in competitive digital entertainment markets.

YEAR:2023

1.TITLE: The Effect of Celebrity Endorsement on Purchase Intention

Author: Ruth SrinintaTarigan , Juliana Caesaria Tandung, Ansell Kevyn Sutrisno , Viriyani
Objectives: To compare the impact of celebrity endorsements on purchase intention in the smartphone industry,
specifically focusing on the brands Samsung and Vivo. 2. To analyze how celebrity endorsements influence customer
purchase intentions and how brand image mediates this relationship. 3. To compare the effects of celebrity
endorsements on purchase intention between Samsung and Vivo, two prominent smartphone brands in Indonesia. 4.
To provide insights into the effectiveness of celebrity endorsements in influencing consumer behavior in the
smartphone industry.
sample:379
Variables: Celebrity Endorsement 2. Brand Image 3. Purchase Intention
Outcomes: In a comparative case study between Samsung and Vivo, celebrity endorsement did not significantly
affect purchase intention for Samsung, but it had a negative impact for Vivo. However, brand image was found to
mediate this relationship. Positively for both brands, indicating its crucial role. Despite varying direct effects,
multigroup analysis showed no significant difference, underlining the consistent influence of brand image. This
underscores the significance of brand perception in shaping consumer behavior, suggesting that while celebrities may
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not always drive direct purchases, they can enhance brand favorability through association.

2.TITLE: The Influence of Influencer Endorsement and Brand Image on Purchasing Intentions of Gen Y and Z
Author: Bagus Yunia nto Wibo wo, Riyadi
Objectives: To investigate the influence of influencer endorsement on purchasing intentions among Generation Y and
Z consumers. 2. To examine the impact of brand image on purchasing intentions among Generation Y and Z
consumers. 3. To analyze the combined effect of influencer endorsement and brand image on purchasing intentions
among Generation Y and Z consumers. 4. To provide insights for businesses on how to effectively utilize influencer
endorsement and enhance brand image to increase purchasing intentions among Generation Y and Z consumers.
sample:100
Variables: Dependent Variable: Purchase Intentions (Y) 2. Independent Variables: a. Influencer Endorsement (X1) b.
Brand Image (X2)
Outcomes: Key Findings: Both influencer endorsement and brand image significantly influence purchase intentions
among Generation Y and Z consumers of Erigo products in Semarang City. 2. Regression Equation: Y = 0.583 +
0.306X1 + 0.746X2 (Influencer endorsement and brand image's relationship with purchase intentions). 3. Statistical
Significance: The F-test (519.789) is greater than the critical F-table value, indicating a significant overall effect. Both
influencer endorsement and brand image variables showed significant t-test results. 4. Coefficient of Determination:
Influencer endorsement and brand image contribute to 91.3% of purchase intentions variation, with 8.7% influenced
by other factors. 5. Practical Implications: Businesses can enhance purchase intentions by leveraging influencer
marketing and brand image strategies, especially for Erigo products in Semarang City.

3.TITLE: Remodeling Consumer Brand Choice Behavior: The Effects of Social Media Influences and Celebrity
Endorsement
Author: Abul Kalam 1, Dr. Goi Chai Lee2, Dr. TiongYing Ying3
Objectives: To examine social media and celebrity endorsements' impact on consumer purchasing decisions. 2. To
identify key factors of social media influence on brand choice. 3. To analyze how celebrity endorsers shape consumer
perceptions of brands. 4. To explore theoretical frameworks like social learning and source credibility theories. 5. To
investigate the link between social media engagement, brand loyalty, and consumer decision-making.
sample: Not Mentioned
Variables: Dependent Variable: Consumer Brand Purchasing Behavior Independent Variables: Social Media
Influences, Celebrity Endorsement
Outcomes: Identifying factors shaping consumer brand choices via social media and celebrity endorsements. 2.
Understanding impacts of social media engagement, customization, entertainment, word of mouth, and trendiness on
brand choices. 3. Analyzing roles of celebrity attractiveness, trustworthiness, credibility, and expertise on consumer
perceptions. 4. Exploring theoretical frameworks like social learning theory and source credibility theory. 5. Offering
recommendations for marketers on leveraging social media and celebrity endorsements.

4.TITLE: The Influence of Celebrity Endorsement on Buying Decisions Using Online Advertising
Author: Raml i, Nory usnita and Abd Latif, Zulki fli and Ismai l, Siti Nasa rah and Moh d Shuk ri,
Objectives: To determine the impact of celebrity endorsements on postgraduate students' buying decisions. 2. To
identify factors influencing the effectiveness of celebrity endorsements on buying decisions. 3. To explore the
relationship between celebrity endorsement and buying decisions among postgraduate students.
sample:170
Variables: Dependent Variable: Buying Decisions 2. Independent Variable: Celebrity Endorsement
Outcomes: Postgraduate students inclined to buy regardless of ads. 2. Celebrity-endorsed brands seen as high quality
by students. 3. Personality and favorite celebrities influence buying. 4. Trustworthiness, expertise, congruence key in
celebrity endorsements.

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YEAR:2022

1.TITLE: Celebrity endorsement and its impact on purchase intentionof luxurious brands
Author: Mostafa NabilHabiba Khaled Hagar Taher Mirna Ayman Norhan Ashoush
Objectives: Celebrity endorsement significantly influences the purchase intention of luxury brands, with
the trustworthiness of the celebrity being the most impactful factor. Other significant factors include
celebrity credibility, product-celebrity match-up, and physical attractiveness. While celebrity expertise also
plays a role, its influence is less pronounced.
sample:145
Variables: Celebrity credibility 2. Celebrity expertise 3. Product-celebrity match-up 4. Physical
attractiveness 5. Trustworthiness
Outcomes: The case study findings demonstrate that celebrity endorsement has a significant positive
impact on the purchase intention of luxury brands. Specific aspects such as celebrity credibility, physical
attractiveness, and trustworthiness play key roles in influencing consumer behavior. The results were
statistically significant, with a high R-squared value supporting the relationship between celebrity
endorsement and purchase intention. The study emphasizes the importance of considering various
dimensions of celebrity endorsement to understand its effects on consumer behavior.

2.TITLE: Celebrity Endorsed Advertise ments and Its Influence on Brand Choice and Buying Behavior of
Females
Author: Abdul Rehman Qaisar, Bakht Rawan, Muhamm ad Sher Juni
Objectives: The objectives of the study are: 1. To identify the impact of advertisement on consumer brand
choice. 2. To identify the role of advertisement in building consumer perception. 3. To study the impact of
consumer awareness and perception on brand choice, specifically focusing on female consumers.
sample:300
Variables: Influence of celebrity endorsed advertisements, desirable qualities of a celebrity for endorsement
2. Medium preference for exposure to advertisement 3. Attention-paying level of respondents to watch
advertisements for brand categories 4. Influence on brand choice of respondents through advertisement
Outcomes: The case study outcomes indicate that advertising, particularly celebrity endorsements,
significantly influence the brand choices and perceptions of female students, with a focus on cosmetics and
dresses. The study highlights the increasing brand consciousness among females, attributing it to the role of
celebrities in advertisements.

3.TITLE: Attitudes towards attractive and credible celebrities in advertisements: a survey among students
Author: DLR van der,Waldt N de Beer Ndu,Plessis
Objectives: The objectives of the case study were to investigate the attitudes of students towards attractive
and credible celebrities in advertisements, focusing on the impact of celebrity endorsements on student
perceptions and attitudes. The study aimed to explore how students perceive celebrity attractiveness and
credibility in advertisements and how these perceptions influence their attitudes.
sample:200
Variables: Attractiveness and Credibility of Celebrities in Advertisements
Outcomes: Students had a favorable attitude towards advertisements containing both attractive and
credible celebrities, but they had an unfavorable attitude towards the products endorsed by these celebrities.

4.TITLE: Impact of celebrity endorsement on purchase decision-making of students in Centro Escolar

University-Manila towards beauty products.
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Author: Joshua D. Gabucaya n , Sheena Mari A.
Objectives: The objectives of the case study are to determine the impact of celebrity endorsement on the
purchase decision-making of students in Centro Escolar University Manila towards beauty products and to
assess the relationship between identified quality attributes of celebrity endorsers and the purchase decision-
making of students.
sample:384
Variables: Attractiveness, credibility, expertise, trustworthiness of celebrity endorsers.
Outcomes: The outcomes of the case study indicate that attractiveness, credibility, and expertise of
celebrity endorsers have a significant relationship with the purchase decision-making of the respondents,
while trustworthiness does not. The null hypothesis was rejected for attractiveness, credibility, and
expertise, and accepted for trustworthiness.

YEAR:2021

1.TITLE: The effectiveness of celebrity endorsement in online advertisement towards consumer purchase
intention.
Author: A. Sufian, MuliatiSedek, Hua Ting Lim, A. Murad,Juhaini Jabar
Objectives: The primary objective of this article is to investigate the relationship between celebrity
endorsement in online advertisements and consumer purchasing intention
sample:200
Variables: Attractiveness, 2.Trustworthine ss,3.Expertise 4. productfit
Outcomes: Its findings portrayed that attractiveness, trustworthiness, and product fit were crucial to
ensuring that the celebrity endorsement was effective. Therefore, those variables could be powerful
marketing tools for marketers when implementing celebrity endorsement as part of their marketing
strategies.

2.TITLE: The Impact of Celebrity Endorser Character istics on Brand Image

Author: Tak-Jie Chan and Deenesha Selvakum aran, Izian Idris,Nor Azura Adzharud din
Objectives: To examine the correlation between celebrity endorser attributes (trustworthiness, expertise,
attractiveness, respect, and similarity) and the brand image of Vivo smartphones in Malaysia.
sample:207
Variables: Trustworthiness, Expertise, Attractiveness, Respect
Outcomes: The study revealed positive associations between the celebrity's expertise, physical
attractiveness, respect, and similarity with Vivo's brand image. These celebrity characteristics were
identified as significant predictors of Vivo's brand perception.

3.TITLE: The Effect of Brand Image, Brand Ambassador, and Product Qualityon the Purchase decision of
MustikaRatu Products (Studyon Sriwijaya University Students)
Author: Dewi Fadila,Zakaria Wahab, Isnurhadi, Marlina Widiyanti
Objectives: To assess the influence of brand image, brand ambassador, and product quality on consumer
purchasing decisions for Mustika Ratu products
sample:100
Variables: Brand image, brandambassador, product quality
Outcomes: The study demonstrated that brand image, brand ambassador, and product quality variables
significantly influenced consumer purchasing decisions. These findings offer valuable insights for
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companies seeking to formulate effective policies and strategies, such as maintaining a positive brand
image, leveraging brand ambassadors for promotion, and prioritizing product quality improvement.

YEAR:2020

1.TITLE: The Contribution of Celebrity Endorsement to University Student's Buying Behavior in

Developing Countries: A Case Study of Zimbabwean University Students
Author: Jokomo Rutendo,Hong-Fe Lyu
Objectives: The objective of this research is to evaluate the contribution of celebrity endorsement to
university students' buying behavior in developing countries. Specifically, it focuses on the impact of
domestic and international celebrities, as well as the influence of celebrity adverts compared to non-
celebrity adverts. The study aims to understand the relationship between celebrity endorsement and
consumer behavior and recommends further investigating the influence of gender and physical attributes of
celebrity endorsers on consumers. Additionally, the research suggests conducting industry-level studies to
analyze the effects of celebrity endorsements on specific products in regions like Zimbabwe or the SADC
region.
sample:100
Variables: Research methodology and study design
Outcomes: The outcomes in Jokomo Rutendo and Hong-Fe Lyu suggest that celebrity endorsement
positively influences consumer perception, lifestyle choices, and buying behavior, especially in developing
countries. International celebrities are preferred over local celebrities, and there is a significant positive
relationship between celebrity endorsement and consumer behavior. Consumers are likely to buy products
endorsed by celebrities, even in the event of scandals. Celebrity advertisements are deemed more influential
than non-celebrity ads. The study recommends the use of international celebrities in developing countries
and suggests further research on the specific attributes of celebrity endorsers that influence consumers.

2.TITLE: How the Digital Endorsement Campaig n Affects Student's Attitude towards a Cinema Theater
Brand:The Case of #JajanAs yikXXI on Instagram
Author: Qisti Qasthari,Pudjiastuti Wahyuni
Objectives: The objective is to measure the influence of celebrity endorser characteristics, specifically
"Titan Tyra," in the #JajanAsikdiX XI campaign on the attitudes of Communication Science students at
Bakrie University towards the XXI brand, and to suggest exploring additional variables for future research.
sample:86
Variables: The variable used in the study is the characteristics of the celebrity endorser Titan Tyra and its
influence on students' attitudes towards the XXI brand.
Outcomes: The results in Qisti Qasthari, Pudjiastuti Wahyuni reveal: the characteristics of celebrity
endorser Titan Tyra have a have a positive, significant effect on the attitude of students toward the XXI
brand.

3.TITLE: The Rhetoric of Celebrity Endorsement Strategy and Consumer Purchase Intention on Fast
Moving Consumer Goods Among Al-Hikmah University Undergraduate Students
Author: Olorunla mbe, S. Salawu, Olanipeku n, G. A., Brimah, W.

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Objectives: How does celebrity endorsement influence consumer purchase intention towards consumer
goods among Al-Hikmah University undergraduate students?
sample:251
Variables: various factors influencing purchase intention interact to impact the decision-making process of
Al-Hikmah University undergraduate students when considering celebrity-endorsed consumer goods
Outcomes: The findings of the 2020 study indicate that several factors significantly influence consumer
purchase intention towards celebrity-endorsed products. These factors include a strong relationship between
celebrity endorsement and consumer purchase intention, as well as a significant impact of celebrity
endorsements on consumer purchase decisions.

4.TITLE: The Effect of Celebrity Endorsement on Instagram FashionPurchase Intention: The Evidence
from Indonesia
Author: Halimin Herjanto,Michael Adiwijaya, E.Wijaya, H. Semuel
Objectives: How does celebrity endorsement influence brand image, brand trust, and purchase intention on
Instagram, and what is the moderating role of celebrity endorsement on these relationships
sample:249
Variables: Purchase intention, Brand image, Brand trust
Outcomes: The findings of the study examine the impact of celebrity endorsement on brand image, brand
trust, and purchase intention within the Indonesian fashion industry. Additionally, the research investigates
the moderating role of celebrity endorsement in influencing these relationships

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CHAPTER NO 4
RESEARCH
METHODOLOGY

25 | A SUMMER INTERNSHIP REPORT

RESEARCH METHODOLOGY

• Problem Statement
While celebrity endorsement is a prevalent communications strategy considered to help enhance
brand image, there is extensive debate on the effectiveness such activity has among students in
terms of influencing the brand image. Do celebrity endorsements really build students'
perceptions of a brand's quality, credibility, and appeal, or do they merely create temporary
awareness without long-term brand loyalty?

This study will try to determine the effect of celebrity endorsement on the brand image perception
of students, whether celebrity endorsement really influences the perception of students toward a
brand or if other marketing variables such as product quality and price, peer influence, are more
influential. By knowing how influential celebrity endorsements are on students, a brand could
theoretically develop more effective methods for reaching this valuable consumer market.

• Scope Of Study
The scope of the study will cover a broad analysis of celebrity endorsements on students'
perceptions about brand image. The key areas which the research will be focusing on will be in
the following aspects:

1. Demographic Focus:

This study will clearly target students as its main demographic segment: high school,
undergraduate, and postgraduate students are a wide and significant portion of the consumer
market. The research will discuss how age, gender, education level, and social background
influence students' responses to celebrity endorsements.

2. Celebrity Endorsements:

It will explore different celebrity endorsement types by actors, athletes, musicians, social media
influencers, and other public figures. Considering the characteristics of the celebrities in terms of
their popularity, relevance to the brand, and perceived authenticity, the research will study how
these factors exert their influence on the students' perception about the endorsed brand.

3. Brand Image Perceptions:

The study will also verify how celebrity endorsements influence various dimensions of brand
image, like perceived quality, trustworthiness, desirability, and overall brand appeal. It also
checks whether such perceptions get translated into bringing alteration in the buying behavior

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and loyalty of students towards brands.

4. Comparative Analysis:

A comparison shall be drawn between endorsed and nonendorsed brands by celebrities to

ascertain whether endorsements after all create a significant difference in the perception of brand
image among students. Such comparison shall ensure the relative effectiveness of celebrity
endorsement against other marketing strategies.

5. Factors Influencing:

Apart from these, various other influencing factors such as peer influence, social media
presence, product quality, pricing, brand reputation, and other areas relevant to the perception of
students regarding brand image will be studied. Thus, the research will be able to surmise the
relative importance of celebrity endorsement in the greater perspective of brand perception.

6. Geographic and Cultural Context:

It will consider the geographic and cultural context in which the students are placed. This would
mean studying, for example, how cultural attitudes towards celebrities and branding vary across
regions and how these variations might influence the impact of celebrity endorsers on brand
image.

7. Time Frame:

Only current and recent celebrity endorsement campaigns will be discussed, mostly within the
last five years. This timescale would allow an examination of current trends in celebrity
endorsements that would most likely relate to today's student population.

8. Methodology:

Quantitative and qualitative research methods will be used in the study by way of surveys,
interviews, and focus groups in order to capture students' perceptions of data. The mixed-method
approach will give a well-rounded understanding of how celebrity endorsements influence brand
image.

9. Limitations:

While the research will be comprehensive, it may only cover a certain number of students in a
particular geographic region or institution, which resources will allow. It may also limit itself to
a few brands and celebrity endorsers that may not represent the larger market.

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 • Objectives Of Study

Objectives of the Study

The major objectives of the study are to study and explore the impact of celebrity
endorsement on the students' perception about brand image. The specific objectives are as
follows:

1. To Assess the Influence of Celebrity Endorsements on Brand Perception:

Assess how celebrity endorsements affect students' perception of a brand's image in
terms of perceived quality, trustworthiness, and overall appeal.
2. To Identify Key Factors in Effective Celebrity Endorsements:
Identify what, if any, factors make a celebrity endorsement successful, such as the
relevance of the celebrity to the brand, the celebrity's popularity and perceived
authenticity, and the magnitude of each factor in influencing students' perceptions of the
brand.
3. To Determine Whether Celebrity-Endorsed Brands Are More Effective than Non-
Endorsed Brands:
Compare to determine whether brands that use celebrity endorsers have a significantly
better brand image among students than do brands that do not use endorsers.
4. To Understand the Role of Demographic Factors:
Based on the demographic variables, explore how age, gender, education level, and
cultural background of students affect their perception toward celebrity endorsement and
their brand image.
5. To Explore Long-Term Impact of Celebrity Endorsements:
Find out whether the impact of celebrity endorsement on brand image perception results
in long-term brand equity among students or is short-run and superficial.
6. To Examine the Interaction of Celebrity Endorsements with Other Influencing Factors:
Examine how other factors that may include peer influence, social media presence,
product quality, and pricing interact with celebrity endorsements and shape students'
overall perception about a brand.
7. Recommendations for Marketers:
From the findings of this study, propose actionable recommendations for marketers and
brand managers on how best to use celebrity endorsers in order to improve brand image
among the student demographic.

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 • Sample Design
✓ Population: Market Research interns at SEMS Welfare Foundation involved in
the market research process.

✓ Sample Size: All Market research interns who participated in the market research process
during the study period.

✓ Sampling Technique: Convenience sampling, given the specific focus on Market

research interns within the foundation.

• Period of Study
The study will cover the consumer behaviour activities and experiences of market research
interns interns over a period of one months, from 15, June 2024 to 15, July 2024. This timeframe
allows for a comprehensive analysis of Celebrity Endorsements on Students' Brand Image
Perceptions.

• Tools Proposed for Analysis

Excel:

✓ Data entry and cleaning

✓ Pivot tables and charts for data visualization
✓ Basic statistical analysis

29 | A SUMMER INTERNSHIP REPORT

CHAPTER NO 5

DATA ANALYSIS
AND
INTERPRETATION

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DATA ANALYSIS AND INTERPRETATION
In the context of our study on Celebrity Endorsements on Students' Brand Image Perceptions,
we collected and analyzed data from various market research interns to gain insights into the
Brand Image Perceptions and Celebrity Endorsements. The following summary statistics
provide an overview of the Data

GRAPHICAL REPRESENTATION OF APLLICATION RECEIVED

1. What is the demographic profile of the respondents?

Key Findings: The majority of respondents were between the ages of 18-24, with a balanced representation
of male and female students. Most respondents were undergraduates, reflecting the typical demographic for
studies on brand perceptions among students.

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 2. How often do students encounter celebrity endorsements in their daily media consumption?

Key Findings: A significant percentage of students reported encountering celebrity endorsements daily, indicating
high exposure and potential influence on their brand perceptions.

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 3. Do students feel that celebrity endorsements make brands more appealing?

Key Findings: A majority of students agreed that celebrity endorsements make brands more appealing,
suggesting a positive impact on brand image. However, a notable portion remained neutral, indicating that
the effect might vary depending on the celebrity or the brand.

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 4. Which types of celebrities (e.g., actors, athletes, musicians) have the most influence on
students' brand perceptions?

Key Findings: Students were asked to select the type of celebrity they believe most influences their brand
perceptions. Actors and musicians were found to have the most significant influence on students' brand
perceptions, likely due to their widespread visibility and association with popular culture.

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 5. Do celebrity endorsements influence students' actual purchasing decisions?

Key Findings: While a significant number of students admitted to making purchases influenced by
celebrity endorsements, a larger portion indicated that their purchase decisions are influenced by other
factors such as product quality and price.

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 6. How do students perceive the long-term value of brands endorsed by celebrities?

Key Findings Students generally agreed that while celebrity endorsements can enhance brand appeal, long-
term loyalty is more dependent on the brand’s consistent quality and reputation rather than ongoing
endorsements.

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 7. How does the type of product (e.g., luxury vs. everyday items) influence the effectiveness of
celebrity endorsements?

Key Findings Celebrity endorsements were found to be more effective for luxury products and fashion items, while
everyday products and technology saw less influence, suggesting that the perceived exclusivity of the product might
enhance the impact of the endorsement

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 8. What other factors do students consider more important than celebrity endorsements when
forming a brand image?

Key Findings: Product quality and price emerged as the most important factors for students. This suggests that while
endorsements may initially attract attention, they are not the sole determinant of brand image or purchasing decisions.

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CHAPTER NO 6
DESCRIPTION OF
ASSIGNED WORK

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DETAILED DESCRIPTION ABOUT THE TASKS WHICH
HAS BEEN ALLOTED BY SEMS WELFARE
FOUNDATION

Drive link for the research on educational startups of India:

https://docs.google.com/document/d/1z7dSY-IrXh7qceH8oVhqHaBBom-
0Ra9c/edit?usp=sharing&ouid=100462632289251199020&rtpof=true&sd=true

Here is the information that I have to find on startups:

Introduction:
The Indian Fintech startup ecosystem has witnessed unprecedented growth over the past decade, driven
by innovative approaches and technological advancements. This research delves into the intricacies of
800 educational startups, covering a wide array of factors that contribute to their operations, financial
health, technological innovations, market presence, and societal impact.
Basic Information:
Each startup's profile includes key details such as its name, the visionary founders or co-founders, year
of establishment, and headquarters location. Contact information, website URLs, and social media
handles are also catalogued to provide a comprehensive overview of each entity's public-facing details.
These elements establish the identity of each startup and set the stage for deeper analysis.

Business Details:
The research categorizes the startups based on their business models (B2B, B2C, B2B2C) and the
specific sectors they operate in, such as K-12 education, higher education, skill development, tutoring,
and e-learning. It highlights the diverse range of products and services offered, identifies target
audiences including students, schools, and working professionals, and outlines their pricing strategies.
This section sheds light on the core operations and strategic positioning of the startups within the
educational landscape.

Financial Information:
The financial health of these startups is examined through their funding rounds, total funding raised, key
investors, revenue figures, and profitability status. By analyzing these metrics, the report provides
insights into the financial viability and growth potential of these startups, identifying those that have
secured significant investments and those that are on the path to profitability.
Operational Details:
Operational metrics such as the number of employees, key partnerships with educational institutions,
geographical presence, user base, and growth metrics are critical indicators of a startup's scale and reach.
This section discusses how these startups manage their operations and expand their influence across
different regions and educational segments
Technology and Innovation:
Technology is a cornerstone of the educational startup ecosystem. This section explores the various
technologies employed by these startups, including AI, ML, VR, and AR. It also highlights the unique
selling propositions (USPs) that differentiate them from competitors, and any patents or proprietary
technologies that give them a competitive edge.
Market and Competition:
Understanding the market dynamics is crucial. The research assesses the market position of these

40 | A SUMMER INTERNSHIP REPORT

 startups, identifying market leaders and emerging players, as well as their key competitors and market
share. This analysis provides a clear picture of the competitive landscape within the Indian educational
startup sector.
Impact and Social Responsibility
Beyond business metrics, the report considers the social impact of these startups, including the number
of students educated, improvements in learning outcomes, and CSR initiatives. Awards and recognitions
earned by these startups are also documented, showcasing their contributions to society and the
recognition they have received for their efforts.

Future Plans:
The future ambitions of these startups are explored, including expansion plans, upcoming products or
services, and long-term vision and goals. This forward-looking perspective highlights the growth
trajectories and strategic directions that these startups are likely to pursue.

Challenges:
Finally, the report addresses the challenges faced by educational startups in India, ranging from funding
and competition to technology adoption and market penetration. Understanding these challenges is
crucial for stakeholders looking to support or collaborate with these startups.

Conclusion:
This comprehensive research provides a detailed snapshot of the educational startup ecosystem in India,
offering valuable insights into the operational, financial, and technological aspects that drive these
startups. By analyzing 800 startups, the report serves as a robust resource for understanding the current
landscape, identifying key trends, and anticipating future developments in this rapidly evolving sector.

This detailed structure will guide your report, ensuring that it comprehensively covers all aspects of your
research on educational startups in India.

Some of the example of fintech startups and their comprehensive information:

1. SWAN Investmentors Private Limited

Founders/Co-founders: Pramod Saraf, Gaurav Agrawal, Ashok Daftari

Headquarters: 11 14 Metro Tower, Vijay Nagar Square, Indore (MP) 452001

Contact: info@swanfinance.in, +91 9977 00 7175

Website: swaninvest.in

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 Social Media: Instagram

Business Model: Financial advisory and investment services

Sector: Finance

Products/Services: Mutual funds, insurance, PMS and AIF, sovereign gold bonds, FDs,
governmentbonds, international equity and ETFs, estate and succession planning, loans
against security

Target Audience: Individual investors, high net worth individuals (HNWI)

Revenue Model: Commissions and advisory fees

User Base: Over 2000+

USP: Transparent and client-focused investment advice

Long-term Vision: To provide the best portfolio based on clients' financial goals

2. MKIX Private Limited

Founder: Pavan Kumar Maurya (potentially others)

Year of Establishment: April 12, 2021

Headquarters: New Delhi, India

Contact: mkixofficial@gmail.com

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 Business Model: Likely IT services or software development

Sector: IT (possibly FinTech)

Revenue: FY 2021-22 revenue was ₹45.8K with a net loss of ₹15.8L

Profitability: Not profitable as of FY 2021-22

Market Position: Emerging player

3. TRAAS FINTECH PRIVATE LIMITED

Founders/Co-founders: Harish Kumar Tailor, Mukesh Kumar Tailor

Year of Establishment: December 22, 2020

Headquarters: Rajasthan, India

Contact: support@traasworld.com

Website: traasworld.com

Business Model: Fintech solutions provider

Sector: FinTech

Geographical Presence: Primarily in Rajasthan, India

Market Position: Emerging player in the fintech sector

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 4. Aimra Corporation Private Limited

Founders/Co-founders: Dheeraj Sharma, Vijay Sharma

Year of Establishment: July 20, 2017

Headquarters: C-599/F, Street No. 13, Majlis Park, Near Majlis Park Metro, Delhi-33

Contact Information:

o Phone: 011-35006148, 9756757758

o Email: info@aimramoney.com

Website: aimramoney.com

Social Media: Twitter

Business Model: Service provider for bill payments, mobile recharge, and DTH services,
aiming to increase customer foot traffic and loyalty through easy and fast utility payment
services.

Sector/Sub-sector: Finance / Payment Services

Products/Services Offered:

o Bill Payments

o Mobile Recharge

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 o DTH Service Provider

Target Audience: General consumers and businesses seeking payment solutions

Revenue Model: Transaction fees from bill payments, mobile recharges, and DTH services

Revenue Growth: 73.27% increase in fiscal year 2021

Profitability Status: Net worth increase of 160.58% in fiscal year 2021

Geographical Presence: Primarily operates in Delhi, India

User Base:

o Over 500 distributors

o More than 1000 retailers

o Over 20 agents

o More than 50 outlets

Growth Metrics: Significant revenue and net worth growth in fiscal year 2021

USP: Simple, fast, and hassle-free utility bill payment services

Market Position: Emerging player

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Participation in Webinars:

As part of my engagement with the SEMS Welfare Foundation, I actively participated in a series of
informative webinars that covered a diverse range of topics, each contributing to my personal and
professional development. These sessions not only enriched my understanding but also provided
valuable insights into various aspects of life, technology, and research methodologies.

1. "Understanding the Life":

This webinar was a profound exploration of the various aspects of life, touching on philosophical,
psychological, and practical dimensions. It encouraged participants to reflect on their personal
journeys, understand the deeper meanings of life, and find purpose in everyday actions. I was
recognized as the most engaging participant in this session, actively contributing to discussions and
reflecting deeply on the insights shared. This recognition underscores my commitment to personal
growth and my ability to connect with complex concepts.

2. "Benefits of Reading Bhagwat Gita":

This webinar offered profound insights into the teachings of the Bhagwat Gita, emphasizing the
importance of spirituality and wisdom in navigating the complexities of modern life. The
discussions highlighted how the principles of the Gita can be applied to personal growth and
decision-making processes.

3. "Your Digital Footprint: Making Smart Choices Online":

Focused on the significance of maintaining a responsible digital presence, this session shed light on
how our online actions contribute to our digital footprint. It provided practical tips on managing
online privacy and security, making informed decisions on social media, and understanding the
long-term impact of our digital activities.

4. "How To Save Time (Time Management)":

Time management is a critical skill in both personal and professional spheres. This webinar delved
into strategies for optimizing time, setting priorities, and balancing various responsibilities
effectively. The insights gained from this session have helped me streamline my workflow and
enhance productivity.

5. "Healthy You and Positive Time Management":

This session explored the relationship between health and time management, emphasizing the
importance of maintaining a balance between work and personal well-being. It provided practical

46 | A SUMMER INTERNSHIP REPORT

 advice on how to manage stress, incorporate healthy habits into daily routines, and use time
management as a tool for overall wellness.

6. "Confidence vs Overconfidence":
Understanding the fine line between confidence and overconfidence is crucial for personal
development. This webinar dissected the characteristics of both traits, offering guidance on how to
cultivate genuine confidence while avoiding the pitfalls of overconfidence. The session was
instrumental in refining my self-awareness and leadership skills.

7. "Use of Reference Management Tools for Research":

In the realm of academic and professional research, effective management of references is essential.
This webinar introduced various reference management tools, demonstrating their use in organizing
research materials, citing sources accurately, and improving the overall quality of research work.
The knowledge gained has enhanced my research methodology, particularly during my internship.

SOME WEBINAR LINKS:

1. https://www.youtube.com/watch?v=DembLgYAiiA
2. https://www.youtube.com/watch?v=QVNpTiFsGvw
3. https://www.youtube.com/watch?v=2_WOjgxQP18
4. https://www.youtube.com/watch?v=Bj4stYGIkt0

CERTIFICATE:

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 OUTCOMES OF THE WORK DONE BY ME IN THE ORGANIZATION

• Improved Market Insight: Expanded the organization's understanding of the fintech

ecosystem in India by analyzing data from the Startup India website, identifying key
players, emerging trends, and growth opportunities.
• Data-Driven Decision-Making: Enabled the organization to make fact-based strategic
decisions, identifying potential investment and partnership opportunities.
• Identification of Growth Opportunities: Highlighted growth opportunities in the
fintech sector, such as expanding into unserved markets and utilizing advanced
technologies like AI and blockchain.
• Enhanced Competitive Position: Provided insights into the organization’s standing
relative to competitors, aiding in refining competitive strategies.
• Risk Management: Identified regulatory challenges and cybersecurity risks, helping the
organization develop strategies for risk mitigation and compliance.
• Business Development Support: Assisted the business development team in identifying
and pursuing strategic partnerships by analyzing key players and trends in the fintech
ecosystem.
• Resource Optimization: Contributed to more efficient use of resources by focusing on
areas with the highest potential for return on investment.
• Knowledge Contribution: Added valuable documentation and analysis to the
organization’s knowledge base, increasing overall understanding of the fintech industry.
• Innovation Facilitation: Identified emerging trends and technologies, positioning the
organization for innovation in its offerings.
• Shaping Long-Term Strategy: Influenced the organization’s long-term strategic
planning by providing insights into market trends and potential future developments.

CHALLENGES FACED DURING THIS INTERNSHIP

• Data Collection and Validation:

o It was quite difficult to collect valid and reliable data with regard to the effect of celebrity
endorsement on students' brand perceptions. The whole process involves designing the
survey questionnaires, efficient distribution and response rate, and an analytical method to
validate data in order to avoid biased or incorrect information.

• Time Management:

o A major challenge was balancing the different activities: data collection, data analysis,
writing of reports, and frequent meetings with the supervisors. Tight deadlines added
pressure, as such other unplanned activities would arise.

48 | A SUMMER INTERNSHIP REPORT

 • Technical Challenges:

o The use of tools and software for data analysis at times caused some technical problems,
such as crushes or compatibility challenges in software. This was somewhat frustrating,
especially at the data analysis stage, since any loss of data would delay the project.

• Absence of Bias:

o The researcher had to make sure that personal biases did not influence the interpretation of
data in any way. For the very reason that brand perceptions are subjective in nature,
objectivity had to be retained throughout the case analyses.

• Communication and Feedback:

o It was tough communicating such complex findings to stakeholders who may not have had
the technical background. Also, at times it's hard to incorporate feedback from various
quarters as suggestions at times become conflicting.

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CHAPTER NO 7
RECOMMENDATIO
NS AND
CONCLUSION

50 | A SUMMER INTERNSHIP REPORT

 RECOMMENDATIONS AND CONCLUSION

✓ RECOMMENDATIONS

• Smoothen Regulatory Compliance:

o Fintech startups should make it a point to understand and work within financial regulations.
Besides building consumer trust, this will also save them a lot of legal complications. In
collaboration with regulatory bodies, compliance will be further simplified to create an
environment that will further inspire innovation while upholding regulatory standards.
• Customer-Oriented Innovation:

o They should solve pain points for the target audience. Continuously gathering customer
feedback and implementing iterative development cycles could help a startup fine-tune its
products and services for more exact and appropriate customer needs.
• Increase Financial Inclusion:

o The opportunity in underserved markets is huge. The fintech startups need to develop
suitable solutions for the unbanked and underbanked population to be able to provide access
to affordable and available financial services, helping partly bridge the financial inclusion
gap in tapping a very big virgin market.
• Leverage on Partnerships and Collaboration:

o Strategic partnerships, in which ties can be established with well-founded financial

institutions, technology providers, and other startups, can act as a strong catalyst in bringing
growth and innovation. Such partnerships open up access to resources, advanced
technologies, and new markets for the scaling-up of those startups.
• Utilize Advanced Technologies:

o Investing in emerging technologies like AI, blockchain, and machine learning has the
potential to drive innovation and efficiency. Keep abreast of the latest technological trends to
devise unique solutions that will give a startup the competitive edge it needs.
• Enhance Cybersecurity:

o Since the data transferred via financial networks contains sensitive information related to the
personal details of customers and business alike, effective cybersecurity should be an
adamant practice. A startup is under obligation to ensure strong encryption, multi-factor
authentication processes, and periodic security audits that will protect the customer's
information and engender trust in it.
• Scale Responsibly:

o While growth is important, scaling needs to be cautious to ensure that service quality and the
51 | A SUMMER INTERNSHIP REPORT
 customer experience do not get affected. Couple the growth strategies with long-term vision
to make sure that expansion is sustainable and responsible.
• Attract and Retain Talent:

o The competition is way too high in the fintech space for talented individuals. In fact, for
attracting and retaining skilled people, the startups must focus on developing good work
culture, giving them competitive remuneration, and career development opportunities.

✓ CONCLUSION: -

The Indian FinTech industry is growing exponentially because of technological

advancement and a regulatory environment that is supportive of innovation. It finds itself
right at the epicentre of rising demand for new financial products, thereby creating a
dynamic ecosystem where startups vie to redefine every new aspect of the financial
world.

But growth brings a set of very inhibiting challenges: how to navigate unwieldy
regulatory frameworks, gain and maintain customer trust, and keep data secure. The
success of FinTech startups literally hangs in the balance, striving to find that delicate
balance between innovation and compliance, customer-centricity and scalability, rapid
growth and long-term sustainability.

Those that can adapt to changing market dynamics and further harness emerging
technologies will be the ones leading the way in the Indian FinTech sector as the
industry powers ahead. It is at this point that the recommendations in this report will aid
their positioning to enhance competitiveness, drive financial inclusion within the
ecosystem, and advance the pace of the industry.

• Varied and Fast-Growing Segment

The Indian FinTech sector is one of the fastest-growing, and various startups have
entered the market to cater to every financial need, from payments and lending to wealth
and insurance management. Data scraped from Startup India suggests a vibrant,
competitive environment where the rise in the number of entrants itself is indicative of
healthy competition and innovation.

• Innovation-The Key Driver

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 Innovation is at the very core of FinTech startups. Using advanced technologies such as
artificial intelligence, blockchain, and machine learning, among others, FinTech startups
offer innovative solutions that increase efficiency, accessibility, and security of financial
services. Underpinning this with technological advancements places the sector in a
position considered agile, customer-centric, and toward a future marked by
sustainability.

• Regulatory Environment
Still, for FinTech startups operating within this complex and evolving regulatory
environment, vigilance and adaptability are key watchwords. While the supportive
Indian government gives incentives like Startup India to facilitate the best environment
for such growing ventures, the opposite side of this coin demands continuous adaptation
to new regulations. How well they will be able to innovate within this paradigm is what
will call the shot as to whether momentum is maintained or lost.

• Financial Inclusion
Increased financial inclusions are a great opportunity for Fintech startups. Many new
entrants want to provide services in the unbanked and underbanked segments, especially
in rural and semi-urban areas. This is also in tune with national objectives of improving
financial access and thus offers both social and business value.

• Customer Trust and Safety

Customer trust is basically the belief that sensitive information regarding their finances is
handled well in FinTech. Cybersecurity should be paramount, as data breaches will
irreparably damage a startup's reputation. Companies that show more concern for data
protection and have transparency in their operations are likely to ensure better loyalty on
the part of their customers.

• Importance of Strategic Partnerships

Scaling, therefore, involves strategic partnerships with established financial institutions,
technology providers, and other start-ups. Such partnerships will allow the start-up to get
access to resources, technologies, and markets that would otherwise have been
unfeasible for swift growth and innovation.
• Challenges in Scaling
Scaling brings a host of opportunities and challenges in maintaining service quality,
managing operational risks, and adhering to regulatory requirements. Growth has to be
balanced with preparedness at infrastructure, talent, and strategy levels while staying true
to core values and service standards.

• Talent Acquisition and Retention

53 | A SUMMER INTERNSHIP REPORT
 Competition for talent in the FinTech space is extreme. To compete, startups have to
create a great workplace culture, offer competitive compensation, and provide ongoing
learning opportunities. Those who will be able to build strong organizational culture will
enjoy a decided competitive edge.

• Outlook
The future of FinTech in India appears promising, with sequential growth across various
segments. Those startups that can adapt to an ever-changing environment, always taking
a customer-centric approach and continuously innovating, may likely lead the market.
The stalling of the regulatory environment; cross-border expansion opportunities; and
new product development will further drive growth.

• Long-Term Sustainability
In the long term, FinTech businesses will revolve around responsible growth with
regulatory compliance and a core base of customer trust. Those startups that adopt a
responsible approach to innovation, scalability, and governance will have a core leading
edge for continued success in this dynamic, ever-evolving industry.

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CHAPTER NO 8
REFERENCES AND
BIBLIOGRAPHY

55 | A SUMMER INTERNSHIP REPORT

REFERENCES AND BIBLIOGRAPHY

• https://e-journal.uac.ac.id/index.php/iijse/article/view/4409
• https://journal.formosapublisher.org/index.php/ijbae/article/view/8468
• https://e-journal.citakonsultindo.or.id/index.php/IJEBIR/article/view/787
• https://journal.unj.ac.id/unj/index.php/isc-beam/article/view/42843
• https://www.researchgate.net/profile/Selvi-
P/publication/379897553_IMPACT_ON_CELEBRITY_ENDORSEMENT_ON_CONS
UMER_BUYING_BEHAVIOUR_TOWARDS_COSMETIC_PRODUCTS_WITH_REF
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CELEBRITY-ENDORSEMENT-ON-CONSUMER-BUYING-BEHAVIOUR-
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56 | A SUMMER INTERNSHIP REPORT