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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

SWAMI SAHAJANAND COLLEGE OF COMMERCE & MANAGEMENT 1


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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?


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.


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.


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


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

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/


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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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Hdfc Bank Ty

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