Transcript
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MEASUREMENT OF CUSTOMER SATISFACTION AT HDFC BANK
AStudy of
Customer Satisfaction
For theCUSTOMERS
Of
A PROJECT SUBMITTED TO
THE BHAVNAGAR UNIVERSITY OF BHAVNAGAR
IN PARTIAL FULFILLMENT FOR THE DEGREE
OF
BACHELOR OF BUSINESS ADMINISTRATION
BY GUIDED BYMARADIYA MOHIZ R. Ms. Nidhi Dave
SWAMI SAHAJANAND COLLEGE OF COMMERCE & MANAGEMENTSWAMI SAHAJANAND COLLEGE OF COMMERCE & MANAGEMENT
BHAVNAGAR UNIVERSITYBHAVNAGAR UNIVERSITY
BHAVNAGARBHAVNAGAR
BATCH
2006-2009
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PREFACE
We feel really a great pleasure to submit our project Report. This project
Report shall provide an information and comprehensive Knowledge of
Satisfaction of customer of HDFC Bank Ltd. with its services.
This project report provides us a vast product, process and their brand name,
which are facing various problems. This project study has been undertaken to
understand the marketing discipline of and organization as a part of student of
management.
This project report has provided us the clarity of the marketing concept like
relationship marketing used during the firm and industry as well.
Finally we conclude customer survey for the service of
HDFC BANK LTD."
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ACKNOWLEDGEMNT
It is my proud privilege to express my sincere gratitude to all those who
helped me directly or indirectly in completion of this project report.
I am greatly indebted to Mr. . (. ) Mr. .
(..) for their support, guidance and valuable suggestions by which this work
has been completed effectively and efficiently. These all contributions are of
immense value.
I owe thanks to Mr. . for providing the required data to complete
this project. Without which it is not possible to complete the project.
Last but not least we are indebted to those entire people who indirectly
contributed and without whom this work should not have been possible.
Endeavour has been made to make the project error free yet I apologies for the
mistakes.
.
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EXECUTIVE SUMMARY
Customer satisfaction is a post purchase experience that a customer gets
after consumption of products and services and becomes deciding factor for
customer to make rational decision of repurchase and to recommend it to others.
But in a purely service industry, service is provided, consumed and analyzed at
the point of consumption of service. This study basically focuses on
measurement of customer satisfaction related to Service offered and rendered at
HDFC BANK.
This study gives a birds eye view of the hard and soft services provided by
HDFC BANK (retail) to their clients.
Recommending the services, rating the experience with HDFC BANK,
service charges and suggestions were some of the aspects explored. Rating the
products, handling of compliant calls, response time, repeat calls encounter and
overall level of satisfaction were some of the issues were also discovered.
To accomplish the task, a survey was carried in and around Bhavnagarcity
(retail outlets of HDFC BANK) with a sample of 123 respondents taken on a
random basis approaching the customers who walked in during banking hours. A
structured questionnaire was prepared and administered and the data so
collected was analyzed both by percentages and statistical methods. Extensive
use of SPSS (Statistical Package for Social Sciences) software was incorporated
for getting the analytical report.
81% customers recommend HDFC BANK products, 91% of these are
having good purchasing experience with the company. 58% of the customers
said that the maintenance charges charged by the company is moderate, 55%ofwhich are having good purchasing experience and 85% of which recommend
HDFC BANK to others. 63% customers are satisfied with the existing services
rendered by the organization. Majority (67%) of customers rated the HDFC BANK
products as good and 67% of which are highly satisfied with the service of the
company. The collected data was also analyzed to calculate the customer
satisfaction for the different sets of respondent.
Is a satisfied customer asset for a company? Definitely not. Unless and untilhe becomes a loyal customer. Approximately 76% customers of HDFC Banks are
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discovered to be loyal. This is the area where the organization can improve in the
near future.
Researchers by their ability have provided some measures to convert a
satisfied customer into a loyal customer.
SUGGESTIONS
E-mails can be used effectively for disseminating information among
customers. Since application of this is most cost effective, the organization can
mail the required information to their customer.
This study is an earnest effort to enhance the practical knowledge by
measuring the customer satisfaction as well as contributing to the organizational
efficiency by suggesting ways to manage and improve the same profitably in the
highly competitive time to come.
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INDEX
NO. PARTICULAR P. No.
1 INTRODUCTION OF BANKING INDUSTRY 7
2 COMPANY PROFILE 11
3 REASEARCH MATHODOLOGY 19
3.1 CUSTOMER SATISFACTION CONCEPTS 21
3.2 REASEARCH OBJECTIVES 32
3.3 SAMPLING DESIGN 34
3.4 REASEARCH DESIGN 37
3.5 REASEARCH INSTRUMENT
3.6 LIMITATION OF THE STUDY 43
3.7 DATA ANYLYSIS AND INTERPRETATION 45
4 FINDINGS 49
5 SUGGESTIONS
6 CONCLUSION 60
7 BIBLIOGRAPHY 62
8 APPENDIX 64
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INTRODUCTION
OF
BANKING INDUSTRY
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INTROUDCTIONINTROUDCTIONOFOFBANKINGBANKINGINDUSTRYINDUSTRY
In India banking industry started from years ago. In past, the name of banking
industry was SARAFI PEDHI.
At time of pedhi, they sale and buy money from people, but the changing of time
the concept of sarafi would be change to Bank. That is the first phase to evolve
banking industry in India.
In past the banking industry started for only earning profit but now the scenario
changed to the relationship, i.e. marketing of banking service.
Relationship oriented marketing practices is not new in the business circle. It is
argued that the technological development in collection and use of marketing
information have led to a change in the marketing paradise itself away from
transactional marketing and towards relationship marketing.
This is concerned with all activities directed towards attracting developing and
retaining customer relationship. Relationship exposures of different companies
with their customer go on differing from one company to another.
Indian banking sector has never taken relationship marketing a New pardon
seriously. It is only after liberalization in 1990 that banks are moving towards
customer centric approach.
The core of Indian banking system public sector banks, is facing lot of
competition from private sector banks, hence the relations of customer
relationship marketing is of prime important trends of customer relationship in
public sector banks.
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Suggested that long-term orientation in buyer seller relationship is important, as it
is the function of tow things mutual dependence and trust between them. Both
these parameters help in bonding of buyer and seller thus improving their
relationship. Morgan and Hunt (1994) theories that successful relationship
marketing requires relationship commitment and trust and gave the model of
relationship commitment and trust as mediating variables.
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COMPANY PROFILE
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INTRODUCTION OF HDFC BANK
he Housing Development Finance Corporation Limited (HDFC) was
amongst the first to receive an 'in principle' approval from the Reserve Bank
of India (RBI) to set up a bank in the private sector, as part of the RBI's
liberalisation of the Indian Banking Industry in 1994. The bank was incorporated
in August 1994 in the name of 'HDFC Bank Limited', with its registered office in
Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial
Bank in January 1995.
T
PROMOTER
HDFC is India's premier housing finance company and enjoys an impeccable
track record in India as well as in international markets. Since its inception in
1977, the Corporation has maintained a consistent and healthy growth in its
operations to remain the market leader in mortgages. Its outstanding loan
portfolio covers well over a million dwelling units. HDFC has developed significant
expertise in retail mortgage loans to different market segments and also has a
large corporate client base for its housing related credit facilities. With its
experience in the financial markets, a strong market reputation, large shareholder
base and unique consumer franchise, HDFC was ideally positioned to promote a
bank in the Indian environment.
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The Bank also has a network of about over 2890 networked ATMs across these
cities. Moreover, HDFC Bank's ATM network can be accessed by all domestic
and international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and
American Express Credit/Charge cardholders.
MANAGEMENT
Mr. Jagdish Kapoor took over as the bank's Chairman in July 2001. Prior to
this, Mr. Kapoor was a Deputy Governor of the Reserve Bank of India.
The Managing Director, Mr. Aditya Puri, has been a professional banker for
over 25 years and before joining HDFC Bank in 1994 was heading Citibank's
operations in Malaysia.
The Bank's Board of Directors is composed of eminent individuals with a wealth
of experience in public policy, administration, industry and commercial banking.
Senior executives representing HDFC are also on the Board.
Senior banking professionals with substantial experience in India and abroad
head various businesses and functions and report to the Managing Director.
Given the professional expertise of the management team and the overall focus
on recruiting and retaining the best talent in the industry, the bank believes that
its people are a significant competitive strength.
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TECHNOLOGY
HDFC Bank operates in a highly automated environment in terms of information
technology and communication systems. All the bank's branches have online
connectivity, which enables the bank to offer speedy funds transfer facilities to itscustomers. Multi-branch access is also provided to retail customers through the
branch network and Automated Teller Machines (ATMs).
The Bank has made substantial efforts and investments in acquiring the best
technology available internationally, to build the infrastructure for a world class
bank. The Bank's business is supported by scalable and robust systems which
ensure that our clients always get the finest services we offer.
The Bank has prioritised its engagement in technology and the internet as one of
its key goals and has already made significant progress in web-enabling its core
businesses. In each of its businesses, the Bank has succeeded in leveraging its
market position, expertise and technology to create a competitive advantage and
build market share.
BUSINESSES
HDFC Bank offers a wide range of commercial and transactional banking services and
treasury products to wholesale and retail customers. The bank has three key business
segments:
Wholesale Banking Services:
The Bank's target market ranges from large, blue-chip manufacturing companies
in the Indian corporate to small & mid-sized corporate and agree-based
businesses. For these customers, the Bank provides a wide range of commercial
and transactional banking services, including working capital finance, trade
services, transactional services, cash management, etc. The bank is also a
leading provider of structured solutions, which combine cash management
services with vendor and distributor finance for facilitating superior supply chain
management for its corporate customers. Based on its superior product delivery /
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service levels and strong customer orientation, the Bank has made significant
inroads into the banking consortia of a number of leading Indian corporate
including multinationals, companies from the domestic business houses and
prime public sector companies. It is recognised as a leading provider of cash
management and transactional banking solutions to corporate customers, mutual
funds, stock exchange members and banks.
Retail Banking Services:
The objective of the Retail Bank is to provide its target market customers a full
range of financial products and banking services, giving the customer a one-stop
window for all his/her banking requirements. The products are backed by world-
class service and delivered to customers through the growing branch network, as
well as through alternative delivery channels like ATMs, Phone Banking, Net
Banking and Mobile Banking.
The HDFC Bank Preferred program for high net worth individuals, the HDFC
Bank Plus and the Investment Advisory Services programs have been designed
keeping in mind needs of customers who seek distinct financial solutions,
information and advice on various investment avenues. The Bank also has a
wide array of retail loan products including Auto Loans, Loans against marketable
securities, Personal Loans and Loans for Two-wheelers. It is also a leading
provider of Depository Participant (DP) services for retail customers, providing
customers the facility to hold their investments in electronic form.
HDFC Bank was the first bank in India to launch an International Debit Card in
association with VISA (VISA Electron) and issues the MasterCard Maestro debit
card as well. The Bank launched its credit card business in late 2001. By March
2008, the bank had a total card base (debit and credit cards) of 9.1 million. The
Bank is also one of the leading players in the merchant acquiring business with
over 61,000 Point-of-sale (POS) terminals for debit / credit cards acceptance at
merchant establishments. The Bank is well positioned as a leader in various net
based B2C opportunities including a wide range of internet banking services for
Fixed Deposits, Loans, Bill Payments, etc.
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Treasury
Within this business, the bank has three main product areas - Foreign Exchange and
Derivatives, Local Currency Money Market & Debt Securities, and Equities. With the
liberalisation of the financial markets in India, corporate need more sophisticated risk
management information, advice and product structures. These and fine pricing on various
treasury products are provided through the bank's Treasury team. To comply with statutory
reserve requirements, the bank is required to hold 25% of its deposits in government
securities. The Treasury business is responsible for managing the returns and market risk on
this investment portfolio.
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COMPANY PROFILE
1. Name: THE HOUSING DEVELOPMENT FINANCE CORPORATION BANK
LTD (HDFC)
2. Address: HDFC Bank House,Senapati Bapat Marg,Lower Parel,Mumbai - 400 013Maharastra,India
3. Establishment month & year: August - 1994
4. Chairman: Mr. Jagdish Capoor
5. Vice- Chairman: Mr. Keki M. Mistry
6. Managing Director: Mr. Aditya Puri
7.Directors: Mr. Vineet JainMrs. Renu KarnadMr. Arvind PandeMr. Ashim SamantaMr. C M VasudevMr. Gautam DivanDr. Pandit PalandeMr. Paresh SukthankarMr. Harish Engineer
8.No. of branches: 761
9. No. of ATMs: 1977
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RESEARCH
MATHODOLOGY
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INTRODUCTION
PROBLEM STATEMENT: -The management of HDFC BANK desires to know about the satisfaction of
their customers related to the Retail Banking products and also it wants to know
the attitude, image and motivation of customers towards banking services
provided by them.
OBJECTIVE OF THE STUDY
To measure the Customer Satisfaction towards banking services rendered
by HDFC BANK Retail div.
IMPORTANCE OF THE STUDY
Besides measuring Customer Satisfaction, we also came to know about
following crucial aspects related to
CUSTOMER
Recommendation of the HDFC BANK products to others
Their experience at HDFC BANK Retail branch.
Feedback on maintenance charge
CUSTOMER
Handling of complaint calls
Response time (TAT)
Knowledge of the employees (Personal bankers and tellers)
Repeat calls encounter
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CUSTOMER
SATISFACTION CONCEPTS
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CUSTOMER SATISFACTION
Customer satisfaction means giving the customers what they really want,
when they want it and the way they want it. It involves understanding customer
expectations and meeting them fully.
It can be defined as an outcome of purchase and use resulting from the
buyers comparison of rewards and the costs of the purchase in relation to the
anticipated consequences. (Churchill and Surprenant1982, 493)Customer is an individual or an organization. Their requirements are very
similar.
Conformance of services to their requirements and its performance in
actual stage
Competitive prices
Quality and reliability
Prompt delivery
Service
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IMPORTANCE OF CUSTOMER SATISFACTION
Differentiation strategy: -
Satisfaction is quickly becoming the key to competitive posture within an
industry. Initially, products or services secure life in the market by fulfilling a basic
need. But only offering minimal functionality grants a product nothing than a
commodity status. To ensure long-term market success, businesses have
created brands. Brands allowed businesses to develop and sustain an image,
differentiating one anothers products in the eyes of customer. Today most
companies are leveraging branding to its maximum benefit.
To further differentiate brands, customer satisfaction is the most likely next
strategy. Companies are realizing that the brand that best satisfies its customers
not only keeps them longer, but also benefits from positive word of mouth.
Improved profitability: -
There is both an intuitive belief and empirical evidence that improved
customer satisfaction will increase organizational profitability.
Improved customer retention: -
Satisfaction extends customer lifetimes and lifetime values. Also focusing
on satisfaction helps to estimate negative word if mouth of dissatisfied customers.
Losing a not satisfied customer is more severe than it sounds because one
dissatisfied customer may speak to as many as nine others, increasing its
dissatisfaction by nine folds.
Improved market share: -
There are always four sources of business for a firm. Four sources of
customers in any purchase decision have been identified as: retained customers,
customers switching from competition, customers new to the category and
customers leaving the category. Different probabilities of success are associated
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with each of these four classes of customers because retained customers exhibit
probability for additional business, they deserve more attention and focus than
they currently receives.
Customer Satisfaction has long reaching impact on the current and perhaps
future viability of an organization. The cycle suggests that satisfied customers
tolerate higher margins that can be used to better pay employees. This boosts
employee moral, reducing employee turnover, which in turn helps to produce
more satisfied customers and so on.
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BY PRODUCT OF CUSTOMER SATISFACTION
Thus by enhancing the relations with the customers by taking an initiative
towards their satisfaction thereby attracting them will ultimately improve theirperception of value towards the organization which will lead to increase in profits.
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ROLES OF CUSTOMER SATISFACTION MEASUREMENT:
Information:
The primary intention for measuring customer satisfaction is to collect
information regarding either what customers report needs to be changed ( in a
product , service , or delivery system ) or to assess how well an organization is
currently delivering on its understanding of these needs. This is an
informational role. As such, marketing research and psychological
measurement have much relevance.
Communication:
The very act of surveying customers conveys a very positive message; the
organization is interested in its customers well-being, needs, pleasures, and
displeasures. While this is admittedly a marketing message ,
there is nothing wrong in allowing a survey to serve both the informational and
communication roles.
Thus the image of the organization in the customers mind regarding its
offerings becomes the reality related to its products and services offered.
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HOW TO ACHIEVE CUSTOMER SATISFACTION?
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IMAGE
COMMUNICATIONINFORMATION
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WHOSE RESPONSIBILTY IS TO MEASURE AND MANAGE CUSTOMER
SATISFACTION?
Its the responsibility of the management to take the initiative and measure
the customer satisfaction but it is the responsibility of the whole organization to
manage and improve.
A nave view of business might suggest that profit is the appropriate goal of
an organization, which is a very shortsighted view. From a practical viewpoint, the
primary goal of an organization has to be customer retention. Only with a steady
base of customers can an organization hope to make a profit. And only by first
satisfying customers can a business ever hope to retain its current customers.
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COMPLAINTS AND CUSTOMER SATISFACTION:
Frequently businesses operate on the principle that if things go wrong, they
will hear about it from their customers. Countless investigations document the
fallacy of relying on customer complaints. In the first place, 50% of customers
who experience a problem never complain to anyone! Of the
remaining half, most (45%) complain only to frontline personnel who either fail to
escalate the problem up to management and/or mishandle solving the problem.
Only 5%(one unhappy customers in 20) of all customers who have a problem
actually voice it to management. So, complaints are an inefficient method with
which to monitor customer satisfaction.
INEFFICIENT METHOD OF CUSTOMER SATISFACTION
COMPLAINING TO
EFFICIENT METHOD OF CUSTOMER SATISFACTION
Thus the organization should take the
initiative to reach out to its customers
for the valuable feedback related to its
products and services offered. The
feedback given should be analyzed
thoroughly to measure customer
satisfaction; this process should be
repeated after a pre decided gap of
time frame not only to measure but
also to improve customer satisfaction
in long run.
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CUSTOMERS ORGA IZATIO
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WHAT IS THE ULTIMATE GOAL?
The ultimate goal of any organization should be to position itself as a better
product and service offering organization through continuous measurement and
management of customer satisfaction.
Best can be always be made
better.
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SAMPLING DESIGN
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SAMPLING DESIGN
Relevant population:
Study mainly focused on the customers who visit and transact at retail
branch banks. Database of 8000 + customer were already there with the HDFC
BANK (SION branch). Because of geographical, time and money constraint,
method of Simple Random Sampling was incorporated to select the samples
from Bhavnagar. Because of this process, each element of the target population
has an equal chance of being selected into the sample.
Parameters of Interest:
Population proportion is the parameter of interest where the proportion
satisfied with the products and services rendered by the HDFC BANK wasinvestigated. Sample statistic is the sample proportion, which estimated the
required population proportion.
Sampling frame:
The division thus providing the sampling frame prepared list of all the
customers going for RETAIL BANKING.
Type of sample:
With the target population being known and having the time, money and
geographical constraints, the probability random sampling method was adopted.
With this sample design, we made probability-based confidence estimates of the
population proportion of interest. The selection followed an appropriate procedure
in which there is no chance for the interviewers or others to modify the selection
made.
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Sample size:
As the population Standard Deviation is not known and we intended to
follow Normal Distribution curve while testing Hypothesis, a sample of 15
respondents was selected at random to obtain the sample proportions. Pilot
survey was conducted and the responses through the questionnaire were
registered and the sample proportions were determined.
These sample proportions were used along with the Confidence level of
80% and +5% allowable errors in the sample size estimation to arrive at the main
sample size of 57.
Data source:
Our primary data comes from an opinion-based survey, which was then
conducted across the entire Bhavnagar with the sample size of 57 respondentsdrawn, random. Our secondary data was scanned from various books,
magazines, Internet etc. The final model has been built by synergizing data from
the above two sources.
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PRIMARY RESEARCH
(OPINION SURVEY)
SECONDARY RESEARCH
(INFORMATION SCANNING)
DATA SOURCE
FINDINGS
RECOMMENDATIONS
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RESEARCH DESIGN
EXPLORATION:
Purpose of the study:
The research design is of Descriptive type which is designed to describe
the proportion characteristic of the population wherein the questions related to
the satisfaction level of the customers were incorporated in the instrument and
are tried to answer the queries regarding same.
Who recommends the product?
What is the reason to go for HDFC BANK?
Since when the person is rendering the service
from HDFC BANK?
From where one get the influence to go for HDFC
BANK?
How the HDFC BANK services are perceived by the
Customer itself?
Qualitative:
Factors important for customers in a bank were studied and depending
upon them the questionnaire was prepared.
See the Appendix (Part-3)
Instrument:
The instrument used for the research is the questionnaire, which was
prepared after a thorough knowledge of various aspects of customer satisfaction
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process. The instrument when it was drafted for the first time for the pilot survey
was informative enough to gather the required information requiring some
Amendments. Because of this, required revision of the instrument was done after
which the main was derived and the final revised questionnaire was administered
on the same.
Questionnaire Design:
The questionnaire contained the questions that help to dive deep in the
customer satisfaction level of customer in a bank. Recommendation of the HDFC
BANK services to others, rating experience at HDFC BANK, feedback on
maintenance charges handling of complaint calls, response time, and knowledge
of the personal bankers
Repeat calls encountered etc., were some of the issues which were probed with
the help of the instrument.
Studys Variables:
The study was mainly focused on the proportion of the population which
was satisfied with the products and services rendered by HDFC BANK. For this,
the pilot testing (survey) was conducted with a sample size of 15 in various partsof Bhavnagar. Through this, sample proportions were analyzed and were used to
derive the main sample size for conducting the survey. The sample proportions
now obtained were used to test the hypothesis related to the population
proportion and was used to estimate the required population proportion.
(See Appendix Part-2)
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DATA COLLECTION:
Location:
Bhavnagar was selected as area for conducting the sample survey to
gather the opinion knowledge of the respondents.
Data collection time:
The instruments were administered from third week of May to third week of
Feb. 2004 to collect the response. It took around 2 weeks of time to gather all the
relevant information.
Field instructions:
The field instruction of asking the right respondent to give the response
was decided. This is because at times, the respondents were not there in the
bank. Customer generally comes in the post afternoon time just to use the ATM,
whereas the retail customer of particular branch comes early in the morning.
Relevance of secondary data:The relevant secondary data was gathered from the authenticated websites
only. Also very well accepted business magazines and journals were referred to
collect the information required for the project.
(See Bibliography)
TIME PLANNING:
For this project, we had planned out the entire research in terms of
timelines. The work of survey design and data collection was planned and carried
out in a highly systematic manner. The work towards the research was started
around third week of feb 2004 and culminated by the end of second week of
march 2004.
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DATA ANALYSIS;
Data handling:
The collected data was handled carefully in the form of filled-up
questionnaires. The response was then transferred manually to a paper-spread
sheet.
Preliminary analysis:
Preliminary analysis of the pilot survey was done to find out the sample
proportion. This was done with the help of SPSS package and then with this the
final sample size to conduct the survey for collecting secondary data was
calculated.
The response from the survey was then analyzed again to get the final
sample proportion.
Statistical tests:
Hypothesis testing was done to estimate the population proportion through
the sample proportion. For details see appendix (part 2).
Softwares used for the analysis:
SWAMI SAHAJANAND COLLEGE OF COMMERCE & MANAGEMENT
STEPS January Feb Feb MarchWEEKS
1-2 3-4 1-2 3-4 1-2
PLANNING
SURVEY
DESIGN
PILOT RUN
SURVEY
CONDUCT
SECONDARY
DATA
ANALYSIS
PROJECT
FINALIZATIO
N
41
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LIMITATION OF STUDY
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CUSTOMER
SATISFACTION
MEASUREMENT
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CUSTOMER LOYALTY INDEX
Customer loyalty index is obtained by three major factors:
Intention to stick to the same brand
Willingness to recommend to others the brand
Overall satisfaction with the brand
Any of the above variables in isolation does not necessarily indicate loyal
customer. But above tree components together form a derived construct
customer loyalty
OVERALL SATISFACTION
PRO BABILITY
OF RECOMMENDING PROBABILITY OF NOT SHIFTING
Secured customers = 55 x 100 / 118 = 46.61%
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ROAD AHEAD
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THE ROAD AHEAD . . .
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RESEARCH FINDINGS
CUSTOMERS:
RATING OF HDFC BANK SERVICES
CUSTOMERS were asked to rate the HDFC BANK services in ratings like
Excellent, Good and Fair. Following Pie shows the response given:
RATING OF HDFC BANK SERVICES
66
26.4
7.6
0
20
40
60
80
1
rating
%
Excellent
Good
fair
From the above Pie diagram, it is clear that 66% CUSTOMERS rate theHDFC BANK SERVICES as Excellent, 26.4% rate them as Good and rest of
them say that HDFC BANK SERVICES are Fair.
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RESPONSE TIME
Customers were asked to give the feedback regarding the response time.
Following Pie shows the same in categories like Soon and Late:
RESPONSE TIME
95.9
4.1
0
50
100
150
1
RATING
%Soon
late
From the Pie, it is clear that the 95.9% customers say that the response
after the complaint calls are registered is Soon whereas the remaining 4.1% say
that the response is Late.
TURN AROUND TIME
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Customers were asked about the turn around time required by the personal
banker. Following responses were given in categories like More, Moderate and
less:
TURN AROUND TIME
78
20.31.6
020
4060
80100
1
RATING
%
Less
Moderate
More
From the Pie, it is clear that 78% customers say that the time required by
the personal banker is less while 20.3% say that the time required is moderate,
whereas remaining 1.6% customers give the feedback that the time required is
more
.
KNOWLEDGE OF PB (PERSONAL BANKER)
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Customers were asked to give the feedback regarding the knowledge of the
PB in categories like Good and Fair. The customers used their own judgment
about the capability of the service fellow depending upon his accuracy and
speed.
KNOWLEDGE OF PERSONAL
BANKER
0
50
100
1
RATING
%Good
Fair
From the Pie, it is clear that 92.6% customers say that the knowledge of the
PB is Good whereas remaining 7.3% of them feel that its Fair.
THROUGH WITH WORK IN THE SAME VISIT
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CUSTOMERS ON MAINTENANCE CHARGES
The customers gave feedback related to the maintenance charges, which
was categorized into High, Moderate and Low. Following Pie chart shows the
response:
24.2
67.8
4.39 3
010
20
30
40
50
60
70
80
1
High
moderate
low
can't say
From the Pie chart, it is clear that 24.2% customers said that the
maintenance charges charged by the company is high while 4.39% customers
gave the response related to the maintenance charges in the Low
category.67.8% of the customers said that the maintenance charges is moderate
and the
Remaining customers (3.5%) were not sure about the nature of maintenance
charges as to whether it was low, moderate or high.
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CONCLUSIONS
One of the basic in successful organization has been the mindset of not
standing still, not resting on past laurels, but pushing harder and harder for
profitability and growth. This seems to be true with HDFC BANK., one of the fast
growing companies in India.
Even though most of the HDFC BANK customers are getting good service,
company has to rejuvenate the existing facilities to make a foot hold in banking
segment. We are optimistic that the company will be able to continue its presence
in this segment in the years to come.
We are sure that the experience we gained by undertaking this study will
help us a lot in our future career. My sincere thanks to all the HDFC BANK
personnels who have helped us to complete this study successfully.
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BIBLIOGRAPHY
Journals:
NMIMS management review (July Dec 1998, Volume 10, no 2)
Book:
Marketing Research - Alvin C.Burns & Ronald F.Bush
Statistics for Management - Richard I.Levin & David S.Rubin
Improving your measurement of customer satisfaction - Terry G. Vavra
Customer Satisfaction is worthless Customer loyalty is priceless Jeffrey
Gitomer
SPSS for beginners Vijay Gupta
Consumer Behavior Schiff ManBuilding Strong Brands David Aaker
Market Research An Applied Orientation Naresh Malhotra.3rd edition
Marketing Research A Practical Approach for the New Millennium
Joseph Heir Jr.,Robert P,Bush and David J.Ortinar
Website:
www.marketingteacher.com
www.marketing-bulletin.massey.ac.nz
www.chass.ncsu.edu/garson/pa765/statnote.htm
www.marketingpower.com
www.ama.org
SWAMI SAHAJANAND COLLEGE OF COMMERCE & MANAGEMENT 63
http://www.marketingteacher.com/http://www.marketing-bulletin.massey.ac.nz/http://www.chass.ncsu.edu/garson/pa765/statnote.htmhttp://www.marketingpower.com/http://www.ama.org/http://www.marketingteacher.com/http://www.marketing-bulletin.massey.ac.nz/http://www.chass.ncsu.edu/garson/pa765/statnote.htmhttp://www.marketingpower.com/http://www.ama.org/7/31/2019 Hdfc Bank Ty
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Whenever we reject the hypothesis, the conclusion we do accept is called
the alternative hypothesis
LEVEL OF SIGNIFICANCE
A value indicating the percentage of sample values that is outside certain
limits, assuming the null hypothesis is correct, that is, the probability of rejecting
the null hypothesis when it is true
POPULATION PROPORTIONS
Population proportion is equal to the elements in the population belonging
to the category of interest, divided by the total number of elements in thepopulation
STANDARD ERROR OF PROPORTION S.E.P
It is the square root of ratio of service of population proportions to the
sample size.
POPULATION PARAMETER
Population parameter are summary descriptors (e.g., incidence, mean,
variance, proportion etc.)Of variables of interest in the population
SAMPLE STATISTICS
Sample statistics are descriptors of the relevant variables computed from
the samples data. They are the estimators of population parameters
SAMPLING FRAME
It is the list of elements from which the sample is actually drawn. Ideally ,it
is a complete and correct list of population members only
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Part III: QUESTIONNAIRE
QUESTIONNAIRE FOR CUSTOMER:
Please tick any one
1. How would you rate HDFC BANK services?
Excellent Good Fair Poor
2. Please tick any one:
(a) Handling of complaint calls
Good Fair Poor
(b) Response time
Soon Late
(c) Turn around time
More Moderate Less
(d) You through your work in single visit?Yes No
(e) Knowledge of the personal banker?
Good Fair
3. Do you find any gap between the services expected and services
delivered?
Yes No
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