Perception of customers towards services & products of
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  • 1. Perception of customers towards services & products of J&K Bank SHWETANSHU GUPTA(49) SIDHARTH GUPTA(50) SHIVANI GUPTA(46) SUSHANT GUPTA(47)
  • 2. INTRODUCTION TO J&K BANK • The Jammu and Kashmir Bank was founded on October 1, 1938 under letters patent issued by the Maharaja of Jammu and Kashmir, Hari Singh & commenced business on July 4, 1939 . • It is considered as the first of its nature & composition as a State owned bank in the country. • Inspite of a government equity holding of 53 per cent, Jammu & Kashmir Bank (J&K Bank) is regarded as a private sector bank . • J&K Bank is the one and only banker and lender of last resort to the Government of J&K. • It is the only private sector bank designated as agent of RBI for banking • Services of J&K Bank are utilized for the purposes of disbursing the salaries of Government officials. J&K Bank collects taxes pertaining to Central Board of Direct Taxes, in Jammu &
  • 3. Mission, Vision and Philosophy • VISION OF THE BANK • The Bank's vision is “To catalyze economic transformation and capitalize on growth”. The bank aspires to make Jammu and Kashmir the most prosperous state in the country, by helping create a new financial architecture for the J&K economy, at the center of which will be the J&K Bank. The Bank is committed to achieve healthy growth in profitability and simultaneously to remain consistent with the Bank's risk appetite and at the same time ensuring the highest levels of ethical standards, professional integrity and regulatory compliance. • MISSION OF THE BANK • The company’s mission is two-fold: To provide the people of J&K international quality financial services and solutions and to be a super-specialist bank in the rest of the country. The two together will make it the most profitable bank in the country.
  • 4. • PHILOSOPHY: • The Bank’s Corporate Governance philosophy is woven around its total commitment to the ethical practices in the conduct of its business, while striving in the constant quest to grow with profits and enhance shareholders value and align the interests of the Stakeholders and Society
  • 5. Products and services • Loans • Insurance • Tax planning • Savings and deposits • Cards • Mutual funds • Non-resident banking
  • 6. SERVICE QUALITY, SATISFACTION & PERCEPTION When a consumer/customer is contented with either the product or services it is termed satisfaction. Satisfaction results in person’s feelings of pleasure or disappointment that results from comparing a product’s perceived performance or outcome with their expectations (Kotler & Keller, 2009, p. 789).
  • 7. PROPOSED MODEL This model has been very popular with academics and researchers to assess the customer perception of service quality for a variety of service industries. The five dimensions of service quality include: • Tangibility (appearance of physical components); • Reliability (accuracy of performance) • Responsiveness (promptness and helpfulness) • Assurance (knowledge and courtesy of employees) • Compliance (follows rules and regulations)
  • 8. RESEARCH METHODOLOGY • RESEARCH PROBLEM To find the Customer’s Perception toward various products and services of J&K bank. • SOURCE OF INFORMATION Since this research is related to the customer’s perception, so the important sources of information are customers themselves. • INSTRUMENT OF DATA COLLECTION Primary source: Questionnaire Secondary source: J&K bank’s official website • SAMPLE SIZE Sample size is 40 respondents. Only 37 questionnaire were accepted. 3 were rejected due to incomplete information. Method of sampling: convenience samling
  • 9. HYPOTHESES SNO OBJECTIVE HYPOTHSES TEST 1 To identify the perception of customers on the basis of gender and marital status towards products and services of J&K bank. Demographic profile wise (gender, marital status) customer differs with regard to perception towards J&K bank. T-test 2 The objective is to study the impact factor of tangibility, reliability, responsiveness , assurance and compliance on the perception of customers towards products and services of J&K bank. The perception of customers towards products and services of J&K bank is significantly predicted by tangibility, reliability, responsiveness and compliance. and assurance. COORELAT ION
  • 10. DATA ANALYSIS AND INTERPRETATION S.NO PARTICULARS DESCRIPTION FREQUENCIES PERCENTAGE (%) PIE-CHARTS 1 Gender Male Female Total 23 14 37 54.1 45.9 100.0 2 Age Below 35 years 35-45 years Above 45 years Total 23 9 5 37 62.2 24.3 13.5 100.0 3 Marital Status Married Unmarried Total 20 17 37 62.2 37.8 100.0
  • 11. S.NO PARTICULAR S DESCRIPTION FREQUENCIE S PERCENTAGE (%) PIE-CHARTS 4 Education Illiterate Secondary Graduate Total 11 7 19 37 29.7 18.9 51.4 100.0 5 Amount of loan availed Upto 5 lakhs 5-10 lakhs Above 10 lakhs Total 16 9 12 37 43.2 18.9 51.4 100.0
  • 12. CORRELATION BETWEEN RELIABILITY AND PERCEPTION OF CUSTOMERS TOWARDS P/S OF J&K BANK S.NO R1 R2 R3 R4 R5 R6 R7 R1 Pearson Correlation 1 R2 Pearson Correlation 0.12** 1 R3 Pearson Correlation 0.04** 0.32** 1 R4 Pearson Correlation 0.37** 0.48** 0.31** 1 R5 Pearson Correlation 0.16** 0.25** 0.16** 0.20** 1 R6 Pearson Correlation 0.08** 0.49** 0.49** 0.73** 0.13* 1 R7 Pearson Correlation 0.48** 0.37** 0.48** 0.50** 0.08 0.40* 1
  • 13. OUTPUTS FROM T-TEST S.NO STATEMENTS DESCRIPTION MEAN T-VALUE P (significance value) T1 J&K Bank provides you visually appealing materials associated with services Married Unmarried 2.70 2.41 0.70 0.73 .002 T2 J&K Bank offers speedy and efficient transactions Married Unmarried 2.75 3.18 -1.21 -1.23 0.067 T3 J&K Bank has convenient opening business hours Married Unmarried 3.10 2.76 1.21 1.26 0.004 T4 J&K Bank offerings (products/services) are adequate to meet your needs Married Unmarried 2.60 2.14 0.52 0.52 0.065 T5 J&K Bank products/services are attractive than its competitors Married Unmarried 3.35 2.71 1.70 1.71 0.078 T6 J&K Bank provides all the services (money transfers, insurance, savings, etc.) Married Unmarried 3.25 2.88 1.14 1.16 0.000 T7 You are satisfied with the tangibility of products and services Married Unmarried 3.95 3.12 2.40 2.42 0.064
  • 14. INTERPRETATIONS • “There is a positive association between reliability and perception towards J&K Bank’s products and services”. 0.08 (J&K Bank involves hidden policies). • “There is a positive association between responsiveness and perception towards J&K Bank’s products and services”. • “There is a positive association between assurance and perception towards J&K Bank’s products and services”. 0.57 (J&K bank don’t fully assures about the rate of interest), 0.236 (customers aren’t satisfied with the rate of interest charged by J&K bank)
  • 15. • “There is a positive association between compliance and perception towards J&K Bank’s products and services”. 0.259 (J&K bank don’t Follow its policy. • “Marital status wise mean difference exists with regard to the perception of tangibility of products and services of J&K Bank” stands partially accepted. • “Gender-wise mean difference exists with regard to the perception of tangibility of products and services of J&K Bank” stands accepted.
  • 16. SUGGESTIONS TO THE BANK • Bank should educate its customers about its terms and conditions clearly. Bank shouldn’t involve any hidden policy while dealing with customers. • J&K bank should follow its policies in a strict manner. • Perception of married customers towards tangibility of products is good, while that of unmarried customers is low. J&K bank should make its products and services more appealing to its unmarried customers as they are the active spenders. • Perception of male customers towards products and services of J&K bank is good, while that of female customers, in comparison to male customers isn’t so significant. Thus J&K should offer more services and products that appeal to female customers. • J&K bank should establish single window operating system. Customers feel inconvenience while going through lengthy procedures of bank.
  • 17. • The study was restricted to J&K bank customers only. • The study is restricted to corporate customers residing in Jammu region only. • Considering the size of population that we have, the sample size that we have taken is very small. • Due to human behavior, element of subjectivity is present. • Data given by the respondents are limited to their own attitude, perception, knowledge, feeling and awareness. So generalization of this research work isn’t possible. LIMITATIONS OF THE RESEARCH
  • 18. FUTURE SCOPE: • This research work can be extended by taking into consideration larger sample size, so that results can be generalized. • Other banks can be included (HDFC,ICICI,PNB etc.) • Perception of private bank customer and public bank customer could also be compared. • Perception of bank employees towards banks and services could also be included. • Perception of customers residing outside J&K and using J&K bank services could be taken into consideration.