Study the customer satisfaction ratio and views

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Study the customer satisfaction ratio and views

  1. 1. 1 TOPIC NO. 1 Introduction of Topic
  2. 2. 2 Objectives of the Study To Study the customer satisfaction ratio and views towards The ICICI Bank Shivaji Nagar Branch, Pune. To Study the customers attitude towards the financial products of the ICICI Bank. To Study the customers opinion towards the services provided by the ICICI Bank. To Study the working and functioning of Sales Dept. of the organization. To study the efficiency of distribution channel of various department.
  3. 3. 3 SCOPE The study of customer s satisfaction helps to not only employee of the organization but also to the common people at large. The study of customer s satisfaction helps us in following ways 1) Understand different facilities provided by the bank to the customers. 2) To do the careful study of steps which bank takes to attract the customers. 3) To study how bank are working for the development of the population and the economy. 4) The study is also useful to the bank to formulate a systematic structure for providing facilities to the customers. 5) It informs to customers about banks progressive attitude towards customers. 6) Understand the overall performance and progress of the bank.
  4. 4. 4 RESEARCH METHODOLOGY There are two methods of data collection 1. Primary data collection 2. Secondary data collection 1. Collection of primary data The primary data are those which are collected afresh and for the first time and thus happened to be original in character. For this project primary data is collected by observation method, by taking interviews, through questionnaire etc. 2. Collection of secondary data The secondary data on the other hand are those which have already been collected by someone else and which have been already been passed through statistical process. The secondary data is collected from different books, magazines, office files etc.
  5. 5. 5 LIMITATIONS OF THE STUDY Following are the limitations of the study: The overall data collected through one branch of the bank that is Shivaji Nagar Branch Pune. Therefore it makes some limitations to collect the data and analyze. A customer s satisfaction towards the Branch is only considered for study, hence the structure; other concepts of the banks are excluded for the detail study. The study is on the information collected from bank, during very short period of the case study work. So only limited data is collected and no detailed study about case is carried out. The study considered only the customers satisfaction so other concepts of the banks are excluded.
  6. 6. 6 Topic no 2 History of Organization
  7. 7. 7 History of ICICI 1955: The Industrial Credit and Investment Corporation of India Limited (ICICI) incorporated at the initiative of the World Bank, the Government of India and representatives of Indian industry, with the objective of creating a development financial institution for providing medium-term and long-term project financing to Indian businesses. Mr.A.Ramaswami Mudaliar elected as the first Chairman of ICICI Limited. ICICI emerges as the major source of foreign currency loans to Indian industry. Besides funding from the World Bank and other multi- lateral agencies, ICICI also among the first Indian companies to raise funds from International markets. 1956: ICICI declared its first Dividend at 3.5%. 1967: ICICI made its first debenture issue for Rs.6 crore, which was oversubscribed. 1969: First two regional offices in Calcutta and Madras were opened. 1972: Second entity in India to set-up merchant banking services. Mr. H. T. Parekh appointed as the third Chairman of ICICI. 1977: ICICI sponsors the formation of Housing Development Finance Corporation. Managed its first equity public issue.
  8. 8. 8 1982: Becomes the first ever Indian borrower to raise European Currency Units. ICICI commences leasing business. 1986: ICICI first Indian Institution to receive ADB Loans. First public issue by an Indian entity in the Swiss Capital Markets. ICICI along with UTI sets up Credit Rating Information Services of India Limited, (CRISIL) India's first professional credit rating agency. ICICI promotes Shipping Credit and Investment Company of India Limited. (SCICI) The Corporation made a public issue of Swiss Franc 75 million in Switzerland, the first public issue by any Indian equity in the Swiss Capital Market. 1987: ICICI signed a loan agreement for Sterling Pound 10 million with Commonwealth Development Corporation (CDC), the first loan by CDC for financing projects in India. 1988: ICICI promotes TDICI - India's first venture capital company. 1993: ICICI sets-up ICICI Securities and Finance Company Limited in joint venture with J. P. Morgan. ICICI sets up ICICI Asset Management Company. 1994: ICICI sets up ICICI Bank. 1996: ICICI becomes the first company in the Indian financial sector to raise GDR.
  9. 9. 9 ICICI announces merger with SCICI 1997: ICICI was the first intermediary to move away from single prime rate to three-tier prime rates structure and introduced yield-curve based pricing. The name "The Industrial Credit and Investment Corporation of India Limited was changed to "ICICI Limited". ICICI announces takeover of ITC Classic Finance. 1998: Introduced the new logo symbolizing a common corporate identity for the ICICI Group. ICICI announces takeover of Anagram Finance. 1999: ICICI launches retail finance - car loans, house loans and loans for consumer durables. ICICI becomes the first Indian Company to list on the NYSE through an issue of American Depositary Shares. 2000: ICICI Bank becomes the first commercial bank from India to list its stock on NYSE. ICICI Bank announces merger with Bank of Madura. 2001: The Boards of ICICI Ltd and ICICI Bank approved the merger of ICICI with ICICI Bank. 2002: Moodys' assign higher than sovereign rating to ICICI. 2003: Merger of ICICI Limited, ICICI Capital Services Ltd and ICICI Personal Financial Services Limited with ICICI Bank.
  10. 10. 10 Overview ICICI Bank is India's second-largest bank with total assets of about Rs.1,676.59 bn(US$ 38.5 bn) at March 31, 2005 and profit after tax of Rs. 20.05 bn(US$ 461 mn) for the year ended March 31, 2005 (Rs. 16.37 bn(US$ 376 mn) in fiscal 2004). ICICI Bank has a network of about 573 branches and extension counters and over 2,000 ATMs. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI Bank set up its international banking group in fiscal 2002 to cater to the cross border needs of clients and leverage on its domestic banking strengths to offer products internationally. ICICI Bank currently has subsidiaries in the United Kingdom, Canada and Russia, branches in Singapore and Bahrain and representative offices in the United States, China, United Arab Emirates, Bangladesh and South Africa. ICICI Bank's equity shares are listed in India on the Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). ICICI Bank has formulated a Code of Business Conduct and Ethics for its directors and employees.
  11. 11. 11 At September 20, 2005, ICICI Bank, with free float market capitalization* of about Rs. 400.00 billion (US$ 9.00 billion) ranked third amongst all the companies listed on the Indian stock exchanges. ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses. In the 1990s, ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services group offering a wide variety of products and services, both directly and through a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE. After consideration of various corporate structuring alternatives in the context of the emerging competitive scenario in the Indian banking industry, and the move towards universal banking, the managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI Bank would be the optimal strategic alternative for both entities, and would create the optimal legal structure for the ICICI group's universal banking strategy. The merger would enhance value for ICICI
  12. 12. 12 shareholders through the merged entity's access to low-cost deposits, greater opportunities for earning fee-based income and the ability to participate in the payments system and provide transaction-banking services. The merger would enhance value for ICICI Bank shareholders through a large capital base and scale of operations, seamless access to ICICI's strong corporate relationships built up over five decades, entry into new business segments, higher market share in various business segments, particularly fee-based services, and access to the vast talent pool of ICICI and its subsidiaries. In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at Ahmedabad in March 2002, and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002. Consequent to the merger, the ICICI group's financing and banking operations, both wholesale and retail, have been integrated in a single entity.
  13. 13. 13 ICICI Bank Group
  14. 14. 14 Board Members Mr. N. Vaghul, Chairman Mr. Sridar Iyengar Mr. R.K.Joshi Mr. Lakshmi N. Mittal Mr. Narendra Murkumbi Mr. Anupam Puri Mr. Vinod Rai Mr. M.K. Sharma Mr. P.M. Sinha Prof. Marti G. Subrahmanyam Mr. T.S. Vijayan Mr. V. Prem Watsa Mr. K.V. Kamath, Managing Director & CEO Ms. Lalita D. Gupte, Joint Managing Director Ms. Kalpana Morparia, Deputy Managing Director Ms. Chanda Kochhar, Executive Director Dr. Nachiket Mor, Executive Director
  15. 15. 15 Products of bank 1. Deposits 2. Loans 3. Cards 4. Investments 5. Demat 6. NRI Services 7. Private Banking
  16. 16. 16 Deposits ICICI Bank offers wide variety of Deposit Products to suit your requirements. Coupled with convenience of networked branches/ ATMs and facility of E-channels like Internet and Mobile Banking, ICICI Bank brings banking at your doorstep. Select any of our deposit products and provide your details online and our representative will contact you for Account Opening. 1) ICICI Bank offers you a power packed Savings Account with a host of convenient features and banking channels to transact through. So now you can bank at your convenience, without the stress of waiting in queues. 2) We understand that as you reach the age to retire, you do have certain concerns whether your hard earned money is safe and secure whether your investments give you the kind of returns that you need. That's why we have an ideal Banking Service for those who are 60 years and above. The Senior Citizen Services from ICICI Bank has several advantages that are tailored to bring more convenience and enjoyment in your life. 3) It's really important to help children learn the value of finances and money management at an early age. Banking is a serious business, but we make banking a pleasure and at the same time children learn how to manage their personal finances. 4) Safety, Flexibility, Liquidity and Returns!!!! A combination of unbeatable features of the Fixed Deposit from ICICI Bank.
  17. 17. 17 5) When expenses are high, you may not have adequate funds to make big investments. But simply going ahead without saving for the future is not an option for you. Through ICICI Bank Recurring Deposit you can invest small amounts of money every month that ends up with a large saving on maturity. So you enjoy twin advantages- affordability and higher earnings. Loans ICICI Bank offers wide variety of Loans Products to suit your requirements. Coupled with convenience of networked branches/ ATMs and facility of E-channels like Internet and Mobile Banking, ICICI Bank brings banking at your doorstep. Select any of our loan product and provide your details online and our representative will contact you for getting loans. The No. 1 Home Loans Provider in the country, ICICI Bank Home Loans offers some unbeatable benefits to its customers - Doorstep Service, Simplified Documentation and Guidance throughout the Process. It's really easy ! The NO 1 financier for car loans in the country. Network of more than 1500 channel partners in over 780 locations. Tie-ups with all leading automobile manufacturers to ensure the best deals. Flexible schemes & quick processing. Hassle-free application process on the click of a mouse. Range of services on existing loans & extended products like funding of new vehicles, refinance on used vehicles, balance transfer on high cost
  18. 18. 18 loans, top up on existing loans, Extend product, working capital loans & other banking products. Avail attractive schemes at competitive interest rates from the No 1 Financier for Two Wheeler Loans in the country. Finance facility up to 90% of the On Road Cost of the vehicle, repayable in convenient repayment options and comfortable tenors from 6 months to 36 months. Ride home on your Dream Two Wheeler with our hassle free finance. Preferred financier for almost all leading tractor manufacturers in the country. Flexible repayment options in tandem with the farmer's seasonal liquidity. Monthly, Quarterly and Half-yearly repayment patterns to choose from. Comfortable repayment tenures from 1 year to 9 years. DEBIT CARD: Combining the acceptability of a credit card and the prudence of an ATM card, the ICICI Bank Debit card is a most convenient accessory for you. No more fear of overspending. No more searching for the nearest ATM. No more searching for the nearest ATM. With the ICICI Bank Debit Card you can shop using VISA Electron's on- line debit program, and debit your ICICI Bank account directly when purchasing goods or services at any shop displaying the ICICI Bank/VISA Electron logo. ICICI Bank offers you the powerful options of
  19. 19. 19 ICICI Bank HPCL Debit Card ICICI Bank Ncash Debit Card INVESTMENT: At ICICI Bank, we care about all your needs. Along with Deposit products and Loan offerings, ICICI Bank assists you to manage your finances by providing various investment options ranging from ICICI Bank Tax Saving Bonds to Equity Investments through Initial Public Offers and Investment in Pure Gold. ICICI Bank facilitates following investment products: ICICI Bank Tax Saving Bonds Government of India Bonds Investment in Mutual Funds Initial Public Offers by Corporates Investment in "Pure Gold" Foreign Exchange Services Senior Citizens Savings Scheme, 2004 You can invest in above products through any of our branches. For select products ICICI Bank also provides the ease of investing through electronic channels like ATMs and Internet (ICICIdirect.com)
  20. 20. 20 Services Provided by Bank BRANCHES: You can find a host of ICICI retail products at our widespread Bank Branch network-Bank Accounts, Credit and Debit cards, Bonds, Demat Accounts, Loans against Shares, etc. INTERNET BANKING: Steps to Login Learn more about how to login on receiving your User Id Why do you need Internet Banking Learn more about ICICI Bank.com and the services available. Login to your account Choose this option to login to ICICI Bank.com. Click here for steps to login. Get your User Id Click for information on how to apply for your Internet Banking User Id. How to link your Bank, Credit Card and Demat account
  21. 21. 21 Choose this option for information on linking your bank, credit card and demat account. Trouble Logging in Choose this option in case you are having trouble logging in to your account. PHONE BANKING: What's on offer A user friendly automated service menu offers you convenient access to your account coupled with security as, all your transactions are protected by a Atm Pin - The Personal password to your Banks & Credit card Account and Tpin for your Demat Account . But if you do need any assistance our officers will be glad to help you Self Phone Banking (IVR) access Mechanisms are as follows: For Deposits --The customer would need to key-in his ATM/Debit Card Number and its corresponding ATM PIN. For Credit Cards -The customer would need to key-in his 16 digit Card Number and its corresponding ATM PIN. For Demat Account Holders -The customer would need to key-in his 14 Digit Demat Account Number
  22. 22. 22 and its TPIN For Bond Account Holders -The customer would need to key in his Bonds holder Number only. What's more...this facility comes to you totally free of charge! Some of the services offered are listed below Banks Functionalities: Account Balance Mini Statement Cheque Book Request Cheque Status enquiry Stop Cheque Payment Utility Bill Payment Internet Userid Mobile banking Registration Card Functionalities: Outstanding Balance Details of Last Statement Details of Last Payment Last five Transactions Reward Points status
  23. 23. 23 Demat Functionalities: Bonds Functionalities: Information on Redemption Information on Interest Information on Despatch of Bonds certificates Click here to download the Relationship Form(for resident individuals) Others: Lost/Replacement card ATM pin re-issue Standing Instructions Complaints and suggestions Inquire about any ICICI Bank product Register for Phone Banking There is no phone banking registration which needs to be done for Banks /Cards /Bonds it is given to the customer by default . For Demat you just have to fill the form and drop it at the nearest ICICI Bank Branch or ATM.
  24. 24. 24 ATM: ICICI Bank's 24 Hour ATM network is one of the largest and most widespread ATM Network in India. Our ATMs are located in commercial areas, residential localities, major petrol pumps, airports, near railway stations and other places which are conveniently accessible to our customers. ICICI Bank ATMs features user-friendly graphic screens with easy to follow instructions. We have introduced ATMs which interact with customers in their local language for increased convenience. Following are the features available on our ATMs, which can be accessed from anywhere at anytime. Cash Withdrawal: Withdraw upto Rs. 25,000/- per day from your account (50,000 for HNI's). Fast Cash option provides the facility of withdrawing prefixed amounts. Ultra Fast Cash option allows you to withdraw Rs.3000/- in one shot. Balance Inquiry: Know your ledger balance and available balance Mini Statement: Get a printout of your last 8 transactions and your current balance. Deposit Cash / Cheques: Available at all full function ATMs, Customers can deposit both cash and cheques. Cash deposited in ATMs will be credited to the account on the same day (provided cash is deposited before the clearing) and cheques are sent for clearing on the next working day.
  25. 25. 25 Fund Transfer: Transfer funds from one account to another linked account in the same branch. Pin Change: Change the Personal Identification Number (PIN) of ATM or Debit card. Payment: The latest feature of our ATMs, this functionality can be used for payment of bills, making donations to temples / trusts, buying internet packs, airtime recharges for prepaid mobile phones and much more... Others: Request for a checkbook from our ATMs and our concerned branch will dispatch it such that it reaches you within 10 working days. Charges: There is no charge levied on ICICI Bank customers for transacting on ICICI Bank's ATMs. However for customers not maintaining the minimum quarterly average balance in their savings account, first 6 transactions in the quarter will be free and Rs. 25 per transaction will be charged thereafter.
  26. 26. 26 Anywhere Banking ICICI Bank is the second largest bank in the country. It services a customer accounts through a multi-channel access network. This includes branches and extension counters, ATMs, Call Centre and Internet Banking. Thus, one can access the various services ICICI Bank has to offer at anytime, anywhere and from anyplace. To learn more about the various channels, please click on the topic of your interest mentioned in the left menu. MOBILE BANKING: Bank on the move with ICICI Bank Mobile Banking. With ICICI Bank, Banking is no longer what it used to be. ICICI Bank offers Mobile Banking facility to all its Bank, Credit Card, Demat and Loan customers customers. ICICI Bank Mobile Banking can be divided into two broad categories of facilities: Alert facility: ICICI Bank Mobile Banking Alerts facility keeps you informed about the significant transactions in your Accounts. It keeps you updated wherever you go.
  27. 27. 27 Request facility: ICICI Bank Mobile Banking Requests facility enables you to query for your account balance. BANK @ HOME: There are two basic services in Bank@Home 1. Remote Service Delivery 2. Cash on Tap 1. Remote Service Delivery: The main components of this service are the drop boxes, which are installed at certain defined locations (residential complexes, shopping complexes, etc.). A customer can drop in a request for a variety of services into the drop box. These requests will be picked up daily and sent to the branch where they will be taken up for processing on the next working day and the normal TAT's will apply from then on. This service has NO - CHARGES. The services available in Remote Service Delivery are: Cash Withdrawal Application for DD/PO/Fund Transfer Lead generation for Bank A/c and Demat A/c opening. ATM/Debit card PIN regeneration. ATM/Debit card de-blocking and re-issue. Chequebook request. Statement Request.
  28. 28. 28 Internet/Mobile Banking registration. Request for FD Renewal. Request for Balance certificate/Interest Certificate. Linking of A/c to existing Internet banking id. 2. Cash on Tap: This service offers the customer the facility to call the Phone Banking team and ask for cash from his A/c to be delivered to him (CASH WITHDRAWAL) or for someone to pick up cash from him for depositing into his A/c.(CASH DEPOSIT). The Cash on Tap service is available in two variants: a) Express Delivery - If the customer requests the service to be carried out in the same working day. In this case all calls made on working days between 8 A.M. and 6 P.M. on working days, will be serviced by the branch within two hours. The express delivery transactions are charged a flat fee of Rs. 40/- per transaction for all Non - HNI customers. These transactions are FREE for HNI customers. b) Normal Delivery - If the customer requests the service to be carried out on the next working day. All calls made after 6 P.M. or calls made on non working days will be serviced within two hours of the branch opening on the next working day. A customer can call and request for a cash delivery or a cash pickup at a given time on the next working day.
  29. 29. 29 TOPIC NO. 3 Theoretical Background And Study of Details of Customers Satisfaction
  30. 30. 30 Study of Details of Customers Satisfaction Introduction to Marketing Marketing occupies an important position in the organization of business unit. According to the traditional view, the customer will accept whatever the seller present to him. In this view the main concern of the manufacturer is only to produce without considering the customers demand. But this concept is totally changed now. According to the modern concept, the customer is the king of the market and today s manufacturer produce or provides services as per the demands of customers. The prime objective of modern marketing is the satisfaction of customers need. Thus, the concept of marketing becomes very vast. It includes all the functions, which satisfy customers such as financing, storage and risk bearing etc. The customer is the center around which the market is circulated with different marketing activities. Marketing is thus a total system of interacting business activities designed to plan price, promotion and distribution of want satisfying products and services to present and potential customers. Thus marketing is a system of business activities, which includes customers demand and fulfilling efforts of the producers toward it.
  31. 31. 31 Meaning and Definition of Market Research Market research may be defined as the application of scientific method for making marketing decisions. Market Research is any systematic attempt to get information useful in making marketing decisions. It is a systematic analysis of market to that product of facility that will help in finding the facts that improve decision making and control in marketing of goods and services. Thus, marketing research is the systematic object and exhaustive search for study of all facts relevant to any decision making relate to the field of marketing. Thus, marketing research embraces all research activities carried on in connection with the management of marketing work. This may include market research, product research, advertisement research and sales research export marketing research, motivating research and post purchase research. Market research may also be defined as gathering, recording and analysis of all facts about decision- making related to the transfer of sale of goods and services from the producers to consumers. So it may be concluded that marketing is the systematic collection, recording and interpretation and reporting of necessary information and data about- 1. Existing and potential customers. 2. Marketing methods. 3. Cannels of distribution. 4. Media of advertisement. 5. Methods of sales promotion competitors. Thus market research is an overall study related with management of marketing work.
  32. 32. 32 Methods of Market Research There are three basic methods of marketing research. They are as follows: 1. The observation method. 2. The experimental method. 3. The survey method. The observation method: Data is collected on the basis of direct observation. In this method no talks take place. By observation the person the analyst collects the data. The method simply involves watching or listening or at times both with no attempt of probing the reasons. The experimental method: This method is based on the concept that small scale experiment is useful to indicate the expectations of large scale experiments. A wall designed experiment gives a fair idea of the market conditions and thus can be useful information for decision making. Theists conducted can serve as a guide for important market related decisions. The survey method: Under this method the information is collected directly from individuals in three ways viz. telephone, mail and personal interview. This is also called as a survey technique. Responses to direct questions are collected. The survey method has three main uses, they are: 1. To gather facts from respondents. 2. To report their opinion.
  33. 33. 33 3. To probe the interpretation they give. This method is the most accurate and reliable when used with together factual data so as record opinions and get an insight into the respondent s interpretation. Thus the survey has three kinds: 1. Factual survey. 2. Opinion survey. 3. Interpretative survey. In my project, I prefer the opinion survey method which helps to obtain expressions of personal opinion to record evaluation of different things. This method is also helpful in collecting and easy analysis of information from the data collected. Within limited period of time and with fewer effects, survey method provides effective and efficient information that widens the success of company.
  34. 34. 34 Customer Satisfaction As organizations become increasingly focused and driven by demand the need to get customer loyalty and retain their loyalty is critical. Customer satisfaction is the most effective way to active customer loyalty. Customer satisfaction and customer loyalty share many traits. Customer value is customer s perception of the ratio of benefits to what heshe gives to obtain these benefits. The customer value trait is framework used to understand what is that customer wants. 1. Perceived product quality 2. value based pricing 3. perceived service quality Customers are satisfied when value satisfied meets or exceed expectations. If their exceptions of value are not met, there is no chance of satisfying them. Finding out what customer wants however difficult and complex process. To be able to create and deliver customer value, it is important to understand its components. The benefits customers expect are shaped primarily by how they perceive product and service quality and whether or not their perceptions are valid. Customers are product and tangible service attributes as indicators of quality often enough cannot be observed directly. Unfortunately customers don t know to draw a distinct line between product and service and quality. Customers tend to combine product and service attributes together as apart of a total package to
  35. 35. 35 which they attach some individual perceived value. Most companies products fall somewhere between pure product and pure service. Manager s incharge decide which attributes or tangibles or more important than other according to the needs of their customers. On the risk side of the education, the customer s perception and exceptions become the determining factors. Transaction price, life cycle costs and the actual degree of the risk being taken constitutes the three components involved in the risk of buying. The actual price being paid for the product or service at the time of purchase represents the transaction cost. Life cycle costs are the total cost of ownership, which includes operating and service expenses.
  36. 36. 36 Service Marketing Service marketing has some characteristics which are cited below: 1. Intangibility Services are intangible, unlike physical products, they cannot be seen tested, felt heard or smelt before they are brought. So the buyers draw their inferences about quality from the people, place, equipment, price that they see. 2. Inseparability Services are typically produced and consumed simultaneously. This is not true of physical goods. 3. Variability Service depend on who provide them and when and where they provided, they are highly variable. 4. Perish ability Services cannot be stored. Some doctors charge patients for missed appointments because the service value existed only at that point.
  37. 37. 37 The Importance of Word of Mouth Publicity Mouth publicity represents on advantage gained through quality customer service. Customer don t just make up stories about a company, the company creates a story themselves. These stories come from firm action or reaction along with the customers perceptions of them. Estimates show that more than 50% of advertisement in American Business alone is verbal. The only real way to get the word out about the firm is to create memorable impression and situations. Memorable or impressive service is not what one might think it to be. It is, what your customer perceives it to be and tells others. Advantages of Word of Mouth Advertising. 1. It is free. 2. It builds goodwill. 3. It builds customer loyalty. 4. It leads to referred business. Perhaps the greatest advantage to be gained from mouth advertisement is that it literally makes your customer, sales people for your company. By having good word of mouth advertising company can gain huge competitive advantage. This type of advertising enables your company to create a clear distinction between them and their competitors. Topping it all off, it makes it almost impossible for competitors to steel away your customers even at a lower price.
  38. 38. 38 Importance of Customer Satisfaction In An Organization With the increase in customers demand and competition it has become lot more importance at base your entire company on customer service. When doing this one must first realize that every member of your organization playa an active role in customer service. This includes both external and internal customers within your company. In these organizations, top management frequent contacts with external customers. The top management uses consultative participative and supportive management styles to get through the customers. The staff focuses on of its attention on satisfying the customer s need. According to Michel N. Bamber CEO, of Marks and Associates Business Growth Specialist, there are six critical steps in establishing and maintaining quality customer service viz: 1) Senior management commitment 2) Measurement and feedback 3) Communication and training 4) Core standards 5) Customer friendly system 6) Reward and recognition These six stages can be applied to any company in growth stage at its life cycle. The process of building your company around customer service is on going and no matter and how good one quality of.
  39. 39. 39 Customer Satisfaction and Loyalty Customer satisfaction is worthless; this statement was made by Jeffery Gitomer, in his resent book Customer Satisfaction Is Worthless, Customer Loyalty Is Priceless. Gitomer researches and examines the differences between customer satisfaction and loyalty. According to him, loyal customers are happy with their purchase that, they will proactively refer someone to you. The customer walks away with feeling of WOW!! People everywhere in today s business world are trying to figure out what s more important customer satisfaction or customer loyalty. Both, practitioners and academics understand that customer loyalty and satisfaction both are linked in extricable. Even through, loyal customer is most typically satisfied; satisfaction does not always translate into loyalty. Marketing concept has been designed by product and service providers in an effort to maximize customer s satisfaction. Reported date in 1993 showed that customer s satisfaction accounted for 1/3 of revenue received by largest US Research firms. Recently there has been a shift in a research dynasty from satisfaction to loyalty. People are starting to see satisfied customers as being only mediocre. Even through satisfaction and loyalty are linked together and loyal customers seen typically satisfied, satisfaction still represents and unreliable precursor to loyalty. As result of this, Oliver raises two questions. 1) What aspect of the satisfaction response has implications for loyalty? 2) What fraction of the loyalty response is due to this satisfaction component?
  40. 40. 40 For these question satisfaction and loyalty must be clearly defined in the post satisfaction has been defined as an evaluation or the perceived discrepancy between prior expectations and actual performance of the product. Recent definition of satisfaction according to Oliver is that satisfaction is the consumer sense that consumption moved out comes again a standard of pleasure versus displeasure. Oliver defines loyalty as a deeply held commitment to re-by or re-patronize preferred product or service consistently in the future there by causing reputed some brand set purchasing despite situation influences and marketing effects having the potential to cause switching behavior. After extensive amount of research, Oliver concludes that satisfaction is necessary step in loyalty. However satisfaction becomes less significance as loyalty begins to set trough other mechanisms. In the conclusion to these studies Oliver stakes, the disparity between the pursuit of satisfaction versus loyalty as well as the fundamental contents of the loyalty response, poses several investigates direction for the next wave of post consumption research. All these concepts combine provide the basic model customer value. Customer s value the products or services more if the expected benefits seem greater than the expected risks being taken. If expected benefits do not overweight the expected risks. This customer will perceive the product to have a low customer value.
  41. 41. 41 TOPIC NO 4 Data Analysis and Interpretation
  42. 42. 42 1) Are you satisfied with the Anywhere Banking facility provided by ICICI bank? Sr.No. Response Total 1 Yes 89 2 No 11 Total 100 Yes No Interpretation: From survey of various customers, it comes to know that nearly 90% customers are satisfied with the any where banking facility provided by ICICI bank while others are unsatisfied with this facility.
  43. 43. 43 2) Are you satisfied from the facilities provided with branches of ICICI bank? Sr.No. Response Total 1 Yes 91 2 No 09 Total 100 Yes No Interpretation: From survey of various customers, it comes to know that nearly 90% customers are uses the branches facility of ICICI bank while others are not interested.
  44. 44. 44 3) Are you satisfied with the Internet Banking facility provided by ICICI bank? Sr.No. Response Total 1 Yes 74 2 No 26 Total 100 Yes No Interpretation: From survey of various customers, it comes to know that the customers which have demat account, which is the businessmen s, mostly they use the Internet Banking facility.
  45. 45. 45 4) Are you satisfied with the Mobile Banking facility provided by ICICI bank? Sr.No. Response Total 1 Yes 69 2 No 31 Total 100 Yes No Interpretation: From survey of various customers, it comes to know that nearly 70% customers are satisfied with the mobile banking facility provided by ICICI bank while others are gives less response.
  46. 46. 46 5) Are you satisfied with the ATM facility provided by ICICI bank? Sr.No. Response Total 1 Yes 94 2 No 06 Total 100 Yes No Interpretation: From survey of various customers, it comes to know that nearly 90% customers are satisfied with the any where banking facility provided by ICICI bank while others are unsatisfied with this facility.
  47. 47. 47 6) Are you satisfied with the Phone Banking facility provided by ICICI bank? Sr.No. Response Total 1 Yes 64 2 No 36 Total 100 Yes No Interpretation: From survey of various customers, it comes to know that nearly 65% customers are satisfied with the phone banking facility provided by ICICI bank while others are unsatisfied with this facility.
  48. 48. 48 7) Are you satisfied with the Bank @ Home facility provided by ICICI bank? Sr.No. Response Total 1 Yes 54 2 No 46 Total 100 Yes No Interpretation: From survey of various customers, it comes to know that the customers which have no time to come in bank, these customers mostly use this facility.
  49. 49. 49 8) Overall Customers satisfaction towards various services provided by ICICI Bank. Sr.No. Response Total (%) 1 Highly satisfied 59 2 Satisfied 32 3 Not satisfied 09 total 100 59% 32% 9% Highly satisfied Satisfied Interpretation: From the survey it is found that the customers which are the businessmen who have less time to their banking, they use the services like bank @ home, internet banking, mobile banking. Nearly about 90% customers are satisfied with the services provided by the ICICI bank.
  50. 50. 50 9) Are you satisfied with the various deposits offered by ICICI bank? Sr.No. Response Total 1 Yes 83 2 No 17 Total 100 Yes No Interpretation: From survey of various customers it comes to know that, above 80% customers are give response to various deposits in ICICI bank.
  51. 51. 51 10) Are you satisfied with the various loans offered by ICICI bank? Sr.No. Response Total 1 Yes 79 2 No 21 Total 100 Yes No Interpretation: From survey of various customers, it comes to know that the maximum customers are takes the various loans from ICICI bank.
  52. 52. 52 11) Are you satisfied with the various cards of ICICI bank? Sr.No. Response Total 1 Yes 86 2 No 14 Total 100 Yes No Interpretation: From survey of various customers, it comes to know that the nearly about 85% customers are satisfied with the various cards offered by ICICI bank.
  53. 53. 53 12) Are you satisfied with the Investment in ICICI bank? Sr.No. Response Total 1 Yes 76 2 No 24 Total 100 Yes No Interpretation: From survey of various customers, it comes to know that the maximum customers are give response to investment in ICICI bank.
  54. 54. 54 13) Are you satisfied with the Demat product offered by ICICI bank? Sr.No. Response Total 1 Yes 71 2 No 29 Total 100 Yes No Interpretation: From survey of various customers it comes to know that, above 70% customers are using this product.
  55. 55. 55 14) Are you satisfied with the NRI Service offered by ICICI bank? Sr.No. Response Total (%) 1 Yes 64 2 No 36 Total 100 Yes No Interpretation: From survey of various customers, it comes to know that the customers are give partially less response to NRI Service from other products of ICICI bank.
  56. 56. 56 15) Are you satisfied with the Private Banking facility offered by ICICI bank? Sr.No. Response Total (%) 1 Yes 56 2 No 44 Total 100 Yes No Interpretation: From survey of various customers, it comes to know that the customers are give less response to private banking from other products of ICICI bank
  57. 57. 57 16) Overall Customers satisfaction towards ICICI Bank. Sr.No. Response Total (%) 1 Highly satisfied 51 2 Satisfied 38 3 Not satisfied 11 Total 100 51% 38% 11% Highly satisfied Satisfied Interpretation: Overall analysis of customer s satisfaction towards financial products and services especially in the Shivaji Nagar branch of ICICI bank, 51% customers disclosed their full satisfaction. Where as others are partially satisfied.
  58. 58. 58 TOPIC NO 5 Findings, Observations, Suggestions & Conclusion
  59. 59. 59 FINDINGS From the details of the study, we can enumerate the observation of the project report i. e. customers satisfaction towards the ICICI Bank, Branch Shivaji Nagar, Pune in the form of finding as below. The ICICI Bank provides better customer service comparing to the other banks. The bank has personal touch and affection towards the customers. In this current dynamic well developed world, computerization has become necessary and bank has done computerization. The rate of interest in satisfactory. Nearly about 90% customers, felt satisfied with the service. While estimating of the level of awareness of financial products, it was found that percentage of awareness were high and the level of unawareness was very low and those who were they were using of financial products. Most of the respondents were satisfied about the financial products of ICICI bank. The marketing system was also found to be satisfactory to the most of the respondents.
  60. 60. 60 SUGGESTIONS Though the ICICI Bank is doing well and have a progressive trend, some suggestions are given below to make the bank completely eligible to satisfy customers, investors, depositors, staff and the whole bank and for the overall success of the private sector. 1) The bank has to increase the rates on deposits for the stability in the competition of the market. 2) The bank should try to open ATM facility in the rural areas for the customers, which is mostly necessary for today s well developed world. 3) The bank has to increase agriculture loan facilities with minimize the rate of the interest. 4) Awareness in certain financial products has to be improved.
  61. 61. 61 CONCLUSION In the wound up the study, I come to conclude that, financial products of the ICICI bank are good one. As well as the service providing facilities of the ICICI bank is better than the other private sector banks. A complete marketing this word has a great importance in organization that s why apart from job the other essential marketing is also given to the employees like Bank @ Home, NRI service etc.
  62. 62. 62 QUESTIONNERY 1) Are you satisfied with the Anywhere Banking facility provided by ICICI bank? 2) Are you satisfied from the facilities provided with branches of ICICI bank? 3) Are you satisfied with the Internet Banking facility provided by ICICI bank? 4) Are you satisfied with the Mobile Banking facility provided by ICICI bank? 5) Are you satisfied with the ATM facility provided by ICICI bank? 6) Are you satisfied with the Phone Banking facility provided by ICICI bank? 7) Are you satisfied with the Bank @ Home facility provided by ICICI bank? 8) Overall Customers satisfaction towards various services provided by ICICI Bank. 9) Are you satisfied with the various deposits offered by ICICI bank? 10) Are you satisfied with the various loans offered by ICICI bank? 11) Are you satisfied with the various cards of ICICI bank? 12) Are you satisfied with the Investment in ICICI bank? 13) Are you satisfied with the Demat product offered by ICICI bank? 14) Are you satisfied with the NRI Service offered by ICICI bank? 15) Are you satisfied with the Private Banking facility offered by ICICI bank? 16) Overall Customers satisfaction towards ICICI Bank.
  63. 63. 63 BIBLIOGRAPHY 1) ICICI Banks Annual Reports. 2) Marketing Management {Mrs. M. M. Kumthekar} 3) Marketing Management {Philip Kotler}
  64. 64. This document was created with Win2PDF available at http://www.daneprairie.com. The unregistered version of Win2PDF is for evaluation or non-commercial use only.

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