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| Glossary |
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 Business
Development Aids
Means the tools and systems meant for promotion
and motivation and include sales and training aids
such as books, audio and videotapes, programmes,
seminars, rallies and meetings.
Business
Volume
BV indicates a business volume, which is a Rupee
figure and changes with inflation to guarantee a
fair compensation for the efforts put in.
Client/Customer
Means a consumer of Modicare products who has not
become a Modicare Consultant / IBC.
Consultant
Means a person who is a member of the MODICARE Business
Opportunity and who has become a Consultant in accordance
with the Rules of Business.
GBV:
Total of the BVs’ of the network of a Consultant/IBC
and which includes his own Personal BV.
GPV:
Total of the PVs’ of the network of a Consultant/IBC
and which includes his own personal PV.
IBC
An IBC or Independent Business Consultant is a part
of Modicare World who has embraced the ebusiness
initiative of Modicare Pvt Ltd.
Line
of Sponsorship
Means the network of individuals developed by an
individual Consultant.
MODICARE
Means MODICARE, Pvt Ltd., a company incorporated
under Companies Act 1956, having its World headquarters
& Registered office at 4 Community Center, New
Friends Colony, New Delhi – 110065, engaged
in the business of direct selling of its merchandise.
MODICARE Product
Means all products manufactured supplied and/or
distributed by or on its behalf by MODICARE and
/or any of its subsidiaries. It includes literature,
audio & videotapes and other business development
aids.
MODICARE Sales & Marketing
Plan
Means the Sales & Marketing Plan set forth in
official MODICARE literature and which forms the
basis of compensation to the distributor network.
MODICARE Services
Means the services supplied, marketed and/or performed
by MODICARE and/or any of its subsidiaries.
Performance Bonus
Means the monthly payment by MODICARE to Consultants
for their efforts put in computed on the value of
Personal Group BV accumulated in the month by the
Consultant and his network.
Personal
Group
Means all Consultants sponsored both directly and
indirectly into the Consultant’s network vertically
but shall not include the Consultant sponsored by
any other Consultant’s Network.
Personally
Sponsored Consultant
Means a Consultant who has been introduced into
the Modicare business in his line of sponsorship
by a sponsor who is immediately above him vertically
in the line of sponsorship
Point Volume
(PV)
Point Volume is a number to measure and protect
profitability. PV indicates a point value that is
related to the amount of products sold.
Registration
At the eModicare initiative, all participants must
undergo registration process. To avail the total
unique ebusiness opportunity, you need to register
as an Independent Business Consultant (IBC). If
you are a regular Modicare Consultant, you can avail
partial benefits by registering in the ePortal.
In the eModicare initiative, even Clients / Customers
can access the world class Modicare products by
registering themselves as a Customer.
Retail Customer
Means the end user or consumer of any product sold
or service supplied and does not include any Consultant
or the spouse of a Consultant.
Shopping
Bag
The Shopping Bag is the shopping cart at the eModicare
Superstore
Showcases
Showcases are training programmes held for people
interested in the Modicare Opportunity. It also
acts as a platform where existing Modicare Consultants
can introduce their prospects to the opportunity.
Sponsor
Means an independent MODICARE Consultant who introduces
a new Consultant into his line of sponsorship in
the MODICARE business.
Network Marketing
Network Marketing is a proven method of channeling
goods and services through Networks of individuals.
It is a concept through self-entrepreneurs can operate
a business with minimal investments and virtually
no risks. |
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