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Research Anil
 

Research Anil

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comparative study of three banks icici, hdfc and Axis

comparative study of three banks icici, hdfc and Axis

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    Research Anil Research Anil Presentation Transcript

    • A Comparative Analysis of Customer Satisfaction Levels of AXIS, HDFC and ICICI Bank Presented by: Anil Kumar PG07-01 ISMC
    • Introduction
      • A Comparative Analysis of Customer Satisfaction Levels of AXIS, HDFC and ICICI Bank.
      • The study intends to compare the satisfaction levels of three private sector banks namely, Axis bank, HDFC bank and ICICI bank.
      • This research paper looks at the key issue of service quality and nature of service quality delivered to satisfy the customers of these banks.
    • Problem Statement
      • “To compare the customer satisfaction services level of three chosen banks. (ICICI Bank, HDFC Bank, and AXIS Bank)”
    • Objective
      • To study the satisfaction level of consumers of three chosen banks.
      • To identify the perception of consumer about their banks with comparison to other banks.
      • Recommendations to increase customer satisfaction level.
    • Research Methodology
      • Descriptive Research.
      • Primarily based on Primary Data collection.
      • Follow Questionnaire method.
      • Quantitative Research.
      • Non Probabilistic- convenience sampling
    • Secondary Data
      • Sonia Billore’ had done a ‘ comparative study of Indian and Japanese consumers of banking sector’ in May 2007. Her objective was to discuss the consumer behaviour, using secondary data, with regard to the savings attitude of Japanese and Indian consumers. She founds that service quality is understood in terms of ‘friendliness’ of the bank and ‘timeliness’ with which the problems may be solved by a knowledgeable service provider.
      • Lam Siew Yong and Jamil Bojei in 2007 done a study on ‘relationship of service quality, satisfaction and trust with customers and commitment towards their personal banks in Malaysia. Their objective was to assess the relative contributions of service quality (technical and functional quality), satisfaction and trust in shaping bank-clients relationship commitment. They concluded that banks could gain customer satisfaction and trust by attending both the technical (tangibles) and functional (human interaction) aspects of their service management.
      • The survey conducted by FICCI asked the respondents (bankers) to rank their business strategies that have helped them in increased customer acquisition and retention. Technological up gradation was clearly identified as one of the most successful strategy in Customer Acquisition and Retention followed by Expansion of ATM Network, Advertisements and additional sales force
    • Cross-sectional Study
      • I have analyzed current situation of customers at a given period. The whole research was done in a limited and short time.
    • Sampling
      • Sampling Unit: The sampling units selected were all above 18 years of age with diverse socio- economic background.
      • Sampling Technique : Samples were selected by way of convenient sampling and questions were asked to the respondents when they were coming out of their respective banks after availing the services there.
    • Sample Size
      • Sample Size: A total sample size of 120 was selected which had the following break up:
      • AXIS bank customers: 40
      • HDFC bank customers: 40
      • ICICI customers: 40
      • Places to be visit South Delhi.
    • DATA Analysis
      • SERVQUAL Methodology
      • (1) Tangibles . Physical facilities, equipment and appearance of personnel.
      • (2) Reliability . Ability to perform the promised service dependably and accurately.
      • (3) Responsiveness. Willingness to help customers and provide prompt service.
      • (4) Assurance (including competence, courtesy, credibility and security). Knowledge and courtesy of employees and their ability to inspire trust and confidence.
      • (5) Empathy (including access, communication, understanding the customer). Caring and individualized attention that the firm provides to its customers.
    • Question 1-5 (scale 1-7)
      • Your bank uses up to date equipments.
      • The physical facilities in your bank are visually appealing.
      • The employees appear neat and well dressed.
      • Material associated with service (e.g.- withdrawal and deposit forms etc.) are easy to use and visually appealing.
      • Your bank has convenient business hours
    • Tangibles Tangibles 4.8 5 5.2 5.4 5.6 5.8 Tangibles Tangibles 5.5 5.1 5.7 5.4 5.7 5.4 EXP PER. EXP PER. EXP PER. AXIS HDFC ICICI
    • Question 6-10 (scale 1-7)
      • Your bank promises to do something by a certain time, it does so. (Opening of an account, making a DD etc.)
      • When you have a problem, your bank shows sincere interest in solving it.
      • Your bank performs service right at the first time.
      • Your bank should keep the records accurately.
      • Your bank keeps you informed about when a service will be performed.
    • Reliability Reliability 4.9 4 5.6 5 5.7 5.4 0 1 2 3 4 5 6 EXP PER. EXP PER. EXP PER. AXIS HDFC ICICI Reliability
    • Questions 11-13 (scale 1-7)
      • Employees of your bank give you prompt service.
      • The employees of your bank always willing to help you.
      • The employees of your bank are never too busy to help you.
    • Responsiveness Responsiveness 4.8 3.6 5.4 4.7 5.5 4.8 0 1 2 3 4 5 6 EXP PER. EXP PER. EXP PER. AXIS HDFC ICICI Responsiveness
    • Questions 14-17 (scale 1-7)
      • The employees of your bank are trustworthy.
      • You feel safe while doing transactions with your bank.
      • The employees of your bank are courteous.
      • The employees of your bank have the knowledge to answer your questions.
    • Assurance Assurance 4.9 4.3 5.5 5 5.4 5 0 1 2 3 4 5 6 EXP PER. EXP PER. EXP PER. AXIS HDFC ICICI Assurance
    • Questions 18-21(scale 1-7)
      • Your bank gives you individual attention
      • Your bank has employees who give you individual attention.
      • Your bank has your best interest at heart.
      • Employees of your bank understand you specific needs
    • Empathy Empathy 4.4 3.8 5.3 4.8 5.4 4.8 0 1 2 3 4 5 6 EXP PER. EXP PER. EXP PER. AXIS HDFC ICICI Empathy
    • Conclusion
      • The expectations of HDFC and ICICI customers is quiet high while that of AXIS bank customers is quiet low.
      • The perceived performance of the customers shows that the performance of ICICI and HDFC in terms of service is better than AXIS Bank.
      • In order to keep a customer satisfied a bank must identify the value the customer appoints to every item in each dimension, and then the focus should be given in order of that value.
    • Recommendation
      • There should be a special emphasis on two aspects i.e. tangibles and reliability, especially by AXIS bank reliability score is very high.
      • All the banks need to focus on the implementation part service delivery in terms of their responsiveness.
      • HDFC needs to improve its performance in the “Responsiveness” dimension where it lags ICICI.
      • For AXIS bank two key aspects for improvement will be employee’s commitment towards the customer and in giving personal attention to customers where the expectations are high but performance is very low.
      • Thank You