Consumer satisfaction level at Anand rathi Share and Broekers Ltd, Latur


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Survey of customer satisfaction is done for Anand Rathi share and brokers ltd. 60 days was tenure fir this project.
Meeting the existing customers , taking their feedback and giving proper suggestions accordingly to them was the major motive of this project.

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Consumer satisfaction level at Anand rathi Share and Broekers Ltd, Latur

  1. 1. Project Report On Study of Customer Satisfaction at Anand Rathi Share and Stock Brokers Ltd Project Report Submitted to University of PuneIn Partial Fulfillment of Requirement for the Award of Degree of MASTER OF BUSINESS ADMINISTRATION By Yogesh Arvindrao Chevale Under the guidance of Prof. Prajkta Joshi Name of Institution STES’s SKN Sinhgad School of Business Management, Ambegao (Bk), Pune 1
  2. 2. CERTIFICATEThis is to certify that the Project Report entitled “Study of CustomerSatisfaction at Anand Rathi Share and Stock Brokers Ltd” whichis being submitted herewith for the award of the degree of Master ofBusiness Administration of University of Pune, Pune is the result ofthe original research work completed by Yogesh Arvindrao Chevaleunder my supervision and guidance.To the best of my knowledge and belief the work embodied in thisProject Report has not formed earlier the basis for the award of anydegree or similar title of this or any other University or examiningbody.Place: Pune Signature of GuideDate: (Prof. Anamika Singh) 2
  3. 3. ACKNOWLEDGEMENTIt would only be appropriate to begin this report by expressing mydeep gratitude to Mr. Shrikant Gilda. For giving me theopportunities to do internship in an esteemed organization like AnandRathi Share and Brokers Ltd.Also Grateful acknowledgement is made to. Also I would like toexpress my deep gratitude to Mr. Vishal Ghantewad, Mr. DheerajThakur sale’s field representative who has always been there toguide us throughout this project report.I thank to the Human Resource Manager, for offering us thisopportunity. I am also thankful to my internal guide Prof. AnamikaSingh whose able guidance and cooperation helped me to completethis project successfully. I am extremely thankful to the RegionalHead Anand Rathi Share and Stock Brokers Ltd. Without whose helpand support the training would not have been completed. I owespecial thanks to all my friends who helped me to complete mytraining at Anand Rathi Share and Stock Brokers Ltd.Place: PuneDate: Signature of Student 3
  4. 4. DECLARATIONI, the undersigned, hereby declare that the Project Report entitled“Study of Customer Satisfaction at Anand Rathi Share and StockBrokers Ltd” written and submitted by me to the University of Pune,in partial fulfillment of the requirement for the award of degree ofMaster of Business Administration under the guidance of Prof.Anamika Singh is my original work and the conclusions drawntherein are based on the material collected by myself. Place: Pune Date: Signature of Student INDEX 4
  5. 5. Sr. Particulars PageNo No. Executive Summary1 Introduction 7-92 Profile of the 10-24 Organization3 Research Design and 25-27 Methodology4 Conceptual Background 28-315 Data Presentation 32-42 Analysis and Interpretation6 Findings, Suggestions and 43-47 Conclusion Bibliography 48 Annexure 49-52 EXECUTIVE SUMMARY 5
  6. 6. The project was carried out during a period from 5 th May to 5th July 2012 inAnand Rathi Share and Stock Brokers Ltd in Latur.The Title of the project is a “Project report on Study of Customer Satisfactionat Anand Rathi Share and Stock Brokers Ltd”. As aim to know the factors ofsatisfaction, needs and problems of DMAT account holders at Anand RathiShare and Stock Brokers Ltd and to suggesting the strategies on new customerdevelopment.To achieve the aim of this project, my job was to collect the views of the accountholders about the service of the firm through direct interaction the customerswith the used of questionnaire.At the end of completion of this project ,became known that AnandRathicompany providing too good service and customer satisfaction level was toohigh, but they must need to focus on the issue of current market scenario whichcustomer need to know and advertising throughout the city. If the firm willappoint expert for this job then customer will get appropriate information aboutthe current market. So on the basis of this; suggested strategies this project willcertainly help to the company in new costumer development and increase insatisfaction level of existing as well as new customers. INTRODUCTION 6
  7. 7. Anand Rathi (AR) is a leading full service securities firm providing the entiregamut of financial services. Today has a pan India presence as well as aninternational presence through offices in Dubai and Bangkok and London. ARprovides a breath of financial and advisory services including wealthmanagement, investment banking, corporate advisory brokerage & distribution ofequities, commodities, mutual funds and insurance, structured product-all ofwhich are supported by powerful research teams.The main aim of Anand Rathi group is to increase and manage the customersatisfaction level. For that, they are providing low amount to open a DMATaccount in minimum documents and also providing better services than theothers.It is important to manage the Customer Satisfaction, as it is influences long termprofitability of the firm. Customer Satisfaction has become the goal of theorganization because if customers are satisfied then an exponential revenuestream will follow and profitability will increase. Hence on the basis this, projectis made on the customer satisfaction in terms of Anand Rathis DMAT accountholders.As a researcher, during this training period theoretical aspects are co-related intopractical one.The purpose of this project is to know the level of customer satisfaction,satisfaction factors, needs sand problems of customers. OBJECTIVES OF THE PROJECT 7
  8. 8. The purpose of the project is to know the level of Customer satisfaction,satisfaction factors, needs and problems of customers. Following objectives willcover all these things.1. To know the current and future needs &expectations of account holders ofAnand Rathi2. To know the satisfaction level of account holders of Anand Rathi in terms ofdifferent services provided by the firm3. To study the customers problems regarding the service of the company andsuggest solution to the company.4. To provide suggestions to Anand Rathi Share and Brokers Ltd on the findingsof the project. SCOPE OF THE PROJECTThe scope of the study was limited to customers of Anand Rathi share andbrokers’ ltd in Latur city. The project includes study about satisfaction of 200Anand Rathi customers. 8
  9. 9. LIMITATIONS OF THE PROJECT While conducting this project, certain limitations did occur. However, these are natural to any project. Thus, findings of this study should be interpreted in the light of the limitations of the project.1. Unwillingness of some of the respondents to fill the questionnaire complete in all respect.2. Lack of time on the part of respondents.3. Feedback collected from respondents might be vague. 9
  10. 10. ANAND RATHI SHARE & STOCK BROKERS LTDRegistered Office: Branch Office:4th floor, Silver Metropolis ‘Paramount Investment’Jai Coach Compound, Gilda BuildingOpp.Bimbisar Nager, Goregao (E) Cross Saraf Lane Mumbai - 400063, India. Gul Market, Latur-413512, India PROFILE OF THE ORGNIZATIONAnand Rathi (AR) is a leading full service securities firm providing the entiregamut of financial services. The firm, founded in 1994 by Mr.Anand Rathi and 10
  11. 11. Mr. Pradeep Gupta, today has a pan India presence as well as an internationalpresence through offices in Dubai and Bangkok and London. AR provides abreath of financial and advisory services including wealth management,investment banking, corporate advisory brokerage & distribution of equities,commodities, mutual funds and insurance, structured product-all of which aresupported by powerful research teams.The firm’s philosophy entirely client centric, with a clear focus on providing longterm value addition to clients, while maintaining the highest standards ofexcellence, ethics and professionalism. The entire firm is divided across distinctclient groups: Individual, Private Clients, Corporate and Institutions. AnandRathi has been named the Best Domestic Private Bank in India by Asia money intheir fifth annual private banking poll 2009. The firm has emerged a winneracross all key segments in Asia money’s largest survey of high net worthindividual in India.In year 2007 Citi group venture capital international joined the group as afinancial partner. Anand Rathi tries and understands the financial needs; to offerpersonal advice and expert analysis that one needs for assets to go extra mile.The ability to think far ahead and formulate long term strategy coupled with longhours of practice and the research are key drivers which make wealth workharder for you.The company believes that the key to build wealth lies in allocating wealth acrossvarious markets, financial instruments and industry sectors. Keeping this in mindit leverages its expertise in scientific asset allocation, to help you maximizereturns and minimize risks.Slogan: Behind every successful investor.Vision: “To be a shining example as a LEADER IN INNOVATION, and thefirst choice for clients and employees”Year of incorporation: 1994Headquarter: 11th floor, Times tower kamala city, 11
  12. 12. Senapati Bapat Marg,Lower panel,Mumbai - 400013, India.Nature of business: Service ProviderServices: • Creation of a customized financial strategy. • Diversification of assets based on formal process of assets allocation. • Active tracking, monitoring and review of portfolios. • Tax planning. • Structuring of family wealth. • Creation of private trust. • Estate planning.Products: • Equities & derivatives • Mutual funds & bonds • Currency and commodities • Company deposits • Online trading • Life insurance and general insurance • Portfolio management services. • Commodities • Fax trading. 12
  13. 13. • Alternatives assets. • Private equity funds.Structured products: • Real estate opportunities funds. • Special situation opportunities• Offshore structures and global investmentNumber Of Employees: more than 5000 ORGINAZTIONAL STRUCTURE 13
  14. 14. FOUNDER & CHAIRMAN CO FOUNDER & VICE CHAIRMAN MANAGING DIRECTOR Director Director Director MILESTONESYear Achievements1994 Started activities in consulting and Institutional equity sales with staff of 151995 Set up a research desk and empanelled with major institutional 14
  15. 15. investors1997 Introduced investment banking businesses. Retail brokerage services launched.1999 Lead managed first IPO and executed first M & A deal2001 Initiated Wealth Management Services2002 Retail business expansion recommences with ownership model2003 Wealth Management assets cross Rs1500 corers. Retail Branch network exceeds 50 Insurance broking launched. Launch of Wealth Management services in Dubai.2004 Retail Branch network expands across 100 locations within India. Commodities brokerage and real estate services introduced. Wealth Management assets cross Rs3000crores Institutional equities business relaunched and senior research team put in place2005 Retail Branch network expands across 130 locations within India Real Estate Private Equity Fund Launched2006 AnandRathi Middle East, WOS acquires membership of Dubai Gold & Commodity Exchange (DGCX) Ranked amongst South Asias top 5 wealth managers for the ultra- rich by Asia Money 2006 poll Ranked 6th in FY2006 for All India Broker Performance in equity distribution in the High Net worth Individuals (HNI) Category Ranked 9th in the Retail Category having more than 5% market share 15
  16. 16. Completes its presence in all States across the country with offices at 300+ locations within India2007 Citigroup Venture Capital International picks up 19.9% equity stake Retail customer base crosses 100 thousand Establishes presence in over 350 locations SWOT AnalysisSTRENGNTHS:Experienced player in the marketAnand Rathi has been working in this industry for many years. It is also having a longexperience in this industry. Anand Rathi private wealth adjudged “Best Domestic PrivateBank” (India) by Asia money polls 2011 for the third consecutive year.Broad product range: 16
  17. 17. Anand Rathi has many products like equity, derivatives, mutual funds, portfoliomanagement services, commodity and automobile loan. Thus having these much broadproduct range in its market and very good product features, it becomes strength whichenhances them to be ahead in their field.Brand Image:Anand Rathi is having excellent image in the market of being an experience in the fieldof financing for fulfilling the financial needs of the customers over a long period of time.Moreover they have a very good product range according to the market needs so they aregetting awareness in the general public at very good growth rate. Thus, they have a longperiod of faith shown by people in different part of India. Thus it has a good brandimage and is more increasing; this has become a very good strength of the company asthey are now being trustful to more and more people.Customer Orientation:Anand Rathi is always ready to sort out the problem of its customers. It takes care abouttheir investment in share market. It shows the customer orientation of Anand Rathi and itbetter ways its punch line proofs its customer orientation.“ANAND RATHI: BEHIND EVERY SUCCESSFUL INVESTOR”Efficient and skilled manpower:As Anand Rathi in such a field where they need to do an excellent analysis of the marketand provide the best services to the customer because stock market is such a field wheredoing a prediction requires a good range of expertise knowledge and skill to analyze themarkets.Today they are one of the best investment market players in the field broking. The creditof this goes to the efficient and skilled manpower. Its 150 members research / advisoryteam comprises of experienced fundamental and technical analysts, sector specialist,derivative strategist and commodity analysts who are constantly looking for new tradingideas / investment opportunities. 17
  18. 18. Investment AdviceInvestment advisory process at angel starts with an understanding of each investor’s riskappetite and expectations, thus guiding them accordingly. Customers can seek guidanceon stock of their portfolio and can get proactive advice for timely entry and exit inthoroughly researched companies.WEAKNESSES:After sales servicesThe company has disadvantages at the point of after sales services. This so because,when investors are provided with their software and password, they need to operate theiraccount on their own but at the time of some problem like password block up etc. theyneed the back office assistance. So, this area of customer services should be a weaknesspoint for the company.During my client visits I came to know that clients are not happy with the serviceprovided by our branch.The clients were expecting guidance for investment. And our branch was not helpingthem regarding their investment.Software problems:Most of the companies provide single software containing all the services, while AnandRathi has different software for different services. That creates uneasiness for the client.OPPORTUNITIES:Anand Rathi is a leading player in the market. It has the strengths which gives itthe opportunity of becoming the market leader by having the maximum market share. 18
  19. 19. The growth of this industry is also good opportunity for Anand Rathi. Right now themarket cover age is only 5 to 7 percentage in India by this market. So Anand Rathi ishaving a good opportunity to tap the growing market.Untapped market:The company as a broking firm is having very good opportunity in the field of onlinetrading as the market is in growing stage and most of the market is untapped. Moreover,SEBI, the governing body is also promoting online processes as they want to make thestock market completely automated, so they are also moving towards it and makingsome of the necessary steps a compulsory requirement.Emerging new technology :The new technologies which are coming in the market should be speedily accepted bythe company so that it can be provided to the customers and can active a productdifferentiation by way of seedy services. For instance, in terminal if it takes time to makea trade, it may happen that the price at which the customer wants to buy may go away,but if it had good technology that makes the customer. So by, accepting the newtechnology immediately, gives good opportunity to the company.Increasing liberalization of market:After the globalization policy in 1991 Indian government is more inclined towardsliberalization and globalization of the Indian market. As a result now in India more no ofFII and FDI are coming. So this is a good opportunity for Anand Rathi to attract theseforeign investments by giving best services and attractive scheme.Growing economy :Indian economy is growing at a decent rate of 7-8% per year. As a result Indiangovernment as well as the Indian public is getting handsome earning. This result in theincreasing public as well as the private investment. So growing Indian economy is alsoworking as an opportunity for the Anand Rathi because it can attract the investment by 19
  20. 20. providing better services and customer satisfaction to its customers whether they areexisting or prospective.THREATS:Price War:India is a country where people are more price sensitive rather than quality or otherattribute of services provided by the company. Increasing no of players in the market iscreating such type of situation because each and every one wants to serve more and moreno of customer.Substitute Product:The substitute is products like investment through bank, post offices, insurancecompanies, mutual fund companies, foreign exchange markets, fixed deposits these allare working as threat for the company.New entrants:As the industry still in the phase of growth and this means that industry has muchpotential to grow in the coming future and as a result more and more no of players areadding with the industry and all are working as a threat for the Anand Rathi.Trading without consent of clientsLots of our brokers are indulging in this practice. For brokerage they trades on client’saccount without their permission/consent.An organization has alert/notification system i.e. when any transaction conducted onclient’s account an email and SMS is forwarded to that client on their respective emailids and contact number. But during my research I’d found that brokers were switchingoff the alert service before conducting any trade on client’s account. 20
  21. 21. Due to this malpractice hundreds of clients had lost large amount of money. And this isthe reason why Anand Rathi share and stock broker ltd losing its trustworthiness despitebeing a big brand.RESEARCH DESIGN & METHODOLOGYIntroduction:Research: It is a key to the evaluation of successful marketing strategy andprogram. It is an important tool to study buyer behaviors, changes in customerlifestyle, consumption patterns, brand loyalty and forecast market changes.Research is used to study competition and analyze the competitor’s productpositioning and to gain competitive advantages. It also used to help create andenhance brand equity.The data for this study was obtained through Primary and Secondary sources. 21
  22. 22. Sources of data collection1. Primary Source: Primary Source includesa) Direct Interaction Method:Direct interaction with customers of Anand Rathi to know their problems aboutthe firm.b) Questionnaire:The questionnaire made in such a way that, it will cover all the things whichrequired to achieving aim. To achieve the aim of this project, job was to collectthe views of Anand Rathi account holders about services of the firm throughdirect interaction with customers with the use of questionnaire.2) Secondary Sources:Secondary source includesa)Books: Marketing Management-13th edition by Philip Kotlar and Kevin Keller. Marketing Management, author of this book is Mr. Tapan K. panda. Marketing Research-2nd edition, author of this book is C.R. Kothari.b) Websites: 22
  23. 23. SAMPLINGSampling is the process of collecting relevant information from a part of the entirepopulation of respondent sets in order to try and get the picture of relevantcharacteristics of the population based on sample. Every effort has been made to cover afeasible chunk of uncovered market, so as to get a relevant database.Sample Description:Sample Description includesMethod of sample selection, size sample.a)Method of Sample Selection:Non probability sampling is selected for selection of sample. In non probabilitysampling designs, the elements in the populations do not have any probabilities attachedto their being chosen as sample subjects.The Anand Rathi Share and Stock Brokers Ltd had given a list of existing customers ofLatur.b)Size Sample:Sample size of this project is 200 customers. 23
  24. 24. CONCEPTUAL BACKGROUNDCustomer Satisfaction:Whether the buyer after purchase depends on the offer’s performance onrelationship to the buyer’s expectation and whether the buyer interprets anydeviations between the two. In general, satisfaction is a person’s feeling ofpleasure or disappointment that result from comparing a product’s perceivedperformance to their expectations. If the performance falls short of expectation. Ifthe performance matches the expectations, then customer is satisfied. If theperformance exceeds expectations, customer is highly satisfied or delighted.Customer assessments of product performance depend on many factors,especially the type loyalty relationship the customer has with the brand. 24
  25. 25. Customers often from more favorable perceptions of a product with a brand theyalready feel positive about.Although the customer –centered firm seeks to create high customer satisfaction ,that is not its ultimate goal. If the company increases customer satisfaction bylowering its price or increasing its services the result may lower profits. Thecompany might be able to increase its profitability by means other than increasedsatisfaction. Also, the company has many stakeholders, including employees,dealers, suppliers and stockholders. Spending more to increase customersatisfaction might divert funds from increasing the satisfaction of other partners.Ultimately, the company must operate on philosophy that it is trying to deliver ahigh level customer satisfaction subject to delivering acceptable levels ofsatisfaction to the other stakeholders, given its total resources.A customer’s decision to be loyal or to defect is the sum of many smallencounters with the company. Many companies now strive to create a brandedcustomer experience. Measurement of Customer Satisfaction: 1. Performance of the Company or Product is below the expectation leads to Dissatisfaction of the customer. 2. Performance of the company or Product is equal to expectation of the customer is equal to Satisfaction of the customer. 3. Performance of the company or Product is more than the expectation of the company is equal to Delight of the customer.Monitoring Satisfaction: 25
  26. 26. Many companies are systematically measuring how well they treat theircustomers, identifying the factors shaping satisfaction and making changes intheir operations and marketing as a result.A company would be wise to measure customer satisfaction regularly, becauseone key to customer retention is customer satisfaction. A highly satisfiedcustomers generally stays loyal longer, buys more as the company introducesnew product and upgrades existing products, talks favorably to others aboutcompany and its product, pays attention to competing brands and is less sensitiveto price, offers product or services ideas to the company and costs less to servethan new customers because transactions can become routine. Greater customersatisfaction has also been linked to higher returns and lower risk in the market.The link between customer satisfaction and loyalty , however , is notproportional. Suppose customer satisfaction is rated on a scale from one to five.At a very low level of customer satisfaction, customers are fairly satisfied butstill find it easy to switch when a better offer comes along. At level five,customer is very likely to repurchase and even spread good word of mouth aboutcompany. High satisfaction or delight creates an emotional bond with brand orcompany, not just a rational preference.When customers rate their satisfaction with an element of the company’sperformance say delivery- the company needs to recognize that customers vary inhow they define good performance.Measurement Techniques:A number of methods exist to measure customer satisfaction. Periodic surveyscan track customer satisfaction directly and also ask additional questions tomeasure repurchase intention and respondents’ likelihood or willingness torecommend the company and brand to others. Paramount attributes the success ofits five theme parks to the thousands of web-based guest surveys it sends to 26
  27. 27. customers who have agreed to be contacted. During recent year, the companyconducted more than 55 of these surveys and netted 100,000 individual responsesthat described guest satisfaction on topics including rides, dining, shopping,games, and shows.Besides conducting periodic surveys, companies can monitor their customer lossrate and contact customers who have stopped buying or who have switched toanother supplier to find out why.Finally, companies can hire mystery shoppers to pose as potential buyers andreport on strong and weak points experienced in buying the company’s andcompetitor’s product. Managers themselves can enter company and competitorsales situations where they are unknown and experience firsthand the treatmentthey receive, or they can phone their own company with questions andcomplaints to see how employees handle the calls.Influence of Customer Satisfaction: For customer-centered companies, customer satisfaction is both a goal and amarketing tool. Companies need to be especially concerned today with theircustomer satisfaction level because the internet provides a tool for customers toquickly spread bad words of mouth- as well as good word of mouth- to the rest ofthe world. Some customers even set up their own web sites to air their grievancesand dissatisfaction, targeting high profile brands such as United Airlines, Wal-mart and Mercedes Benz.Customer Complaints:Some Companies think they’re getting sense of customer satisfaction by tallyingcompanies, but studies of customer dissatisfaction show that customer aredissatisfied with their purchases about 25 % of the time but that only about 5 % 27
  28. 28. complain. The other 95 % either feel complaining is not worth the effort, or theydo not know how or to whom to complain and they just stop buying.The figure goes up to staging 95 % if the customer feels the complaint wasresolved quickly. Customers who have complained to an organization and hadtheir complaints satisfactory resolved tell an average of five people about thegood treatment they received. The average dissatisfied customer however grips to11 people. If each of them tells still other people, the number of people exposedto bad word mouth may grow exponentially.Purpose behind measuring consumer satisfaction: Measurement of customer satisfaction helps to know the customers need and expectation from the company. Customer satisfaction provides a leading indicator of consumer purchase intentions and loyalty. Customer satisfaction data are among the most frequently collected indicators of market perceptions. Their principal use is twofold: 1. Within organizations, the collection, analysis and dissemination of these data send a message about the importance of tending to customers and ensuring that they have a positive experience with the company’s goods and services. 28
  29. 29. 2. Although sales or market share can indicate how well an Anand Rathi Share and Brokers Ltd is performing currently, satisfaction is perhaps the best indicator of how likely it is that the Anand Rathi’s customers will make further purchases in the future. Much research has focused on the relationship between customer satisfaction and retention. Studies indicate that the ramifications of satisfaction are most strongly realized at the extremes. On a five-point scale, individuals who rate their satisfaction level as 5 are likely to become return customers and might even evangelize for the firm. This can be a powerful marketing advantage.) "Individuals who rate their satisfaction level as 1, by contrast, are unlikely to return. Further, they can hurt the Anand Rathi by making negative comments about it to prospective customers. Willingness to recommend is a key metric relating to customer satisfaction. Following points are to be considered to know the customer satisfaction of the customers at Anand Rathi share and Brokers Ltd 1. Service provided by the company. 2. Different investment options 3. Reason for choosing the Anand Rathi share and brokers ltd 4. Brokerage fees 5. Problems face by the customers while trading with the firm. 29
  30. 30. DATA INTERPRETATION and ANYALYSIS 1. Customers frequency of trading Period Respondents Percentage Daily 71 35 % Weekly 54 27 % Monthly 37 20 % Other 38 18 % Table1: Frequency of trading 30
  31. 31. Other Daily 18% 35% Monthly 20% Weekly 27% Figure 1: Frequency of trading Interpretation: About 35 % respondents are trading on daily basis. Mostly customers do trading on the daily basis, followed by the weekly.2. Preference of the customers for trading by different ways Way of trading Respondents Percentage Intra Day 105 52 % Call and Put 34 17 % Long Term Investment 61 31 % 31
  32. 32. Long Term Invesetmnet 61 Call and Put 39 Intra Day 105 0 20 40 60 80 100 120 Interpretation: Half of the respondents are using the option for trading is intraday. This method is frequently used method trading.3. Different investment option preferred by the customersInvestment Option Respondents Percentage Commodity 51 26 % Share Market 84 42 % Mutual Funds 37 18 % Currency 28 14 % 32
  33. 33. 90 80 70 60 50 40 84 30 51 20 37 28 10 0 Commodity Share Market Mutual Funds Currency Interpretation: Share market is investment option which preferred more than other investment option by the respondents. Only 14 % respondents are investing their money in currency. 4. Reason for choosing Anand Rathi Share and Brokers Ltd. Reasons Respondents PercentageLow account opening charges 32 16 % Services 61 31 % Brokers image in market 53 26 % Credit Worthiness 56 28 % Other 26 13 % 33
  34. 34. Other 26 Credit worthiness 56 Brokers image in market 53 Services 61 Low account opening charges 32 0 10 20 30 40 50 60 70Interpretation:Customers have chosen Anand Rathi for different reasons , most of therespondents have chosen it for services of the company. About 26 % respondentschoose it for their image in a market. Customers have rated the following factors regarding the services provided by Anand Rathi Share and Stock Brokers Ltd. 5. Trading time guidance Rating Respondents Percentage Excellent 45 23 % Very Good 40 20 % Good 60 30 % Fair 35 17 % Poor 20 10 % 34
  35. 35. Poor Excellent Fair 10% 22% 18% Very Good 20% Good 30% Interpretation: Most of the respondents are satisfied with this service provided by the Anand Rathi share and Brokers Ltd. Only 10 % respondents are not satisfied with service.6. Trading tips in the morning Rating Respondents Percentage Excellent 51 25 % Very Good 45 22 % Good 25 13 % Fair 44 22 % Poor 35 18 % 35
  36. 36. Poor Excellent 18% 25% Fair 22% Very Good Good 22% 13% Interpretation: Trading tips in the morning is one of the services of the company. Respondents have given their rating as 25% said it is excellent, 22% said it is very good, only 10% respondents said it is good, 22 % said it is fair, and 18% customers are not happy with the service.7. Putting orders without delay Rating Respondents Excellent 22 Very Good 34 Good 46 Fair 45 Poor 56 36
  37. 37. Poor Excellent 27% 11% Very Good 17% Fair Good 22% 23% Interpretation: Putting orders without delay is the services provided by the company, most of the customers are not happy with service. Only 11% respondents said it is excellent 17% said it is very good, 23% said it is good, 22% said it is fair, 27% said it is poor.8. Sending the ledgers regularly Rating Respondents Excellent 30 Very Good 48 Good 59 Fair 36 Poor 27 37
  38. 38. Poor Excellent 14% 15% Fair 18% Very Good 24% Good 29%Interpretation:Sending ledgers on time is a service which is provided by the company,respondents give their feedback as, 15% said it is excellent, 24% said it is verygood, 29% said it is just good, 18% said it is fair and only 14% said it is poor. 9. Loan against shares Rating Respondents Excellent 41 Very Good 53 Good 46 Fair 33 Poor 27 38
  39. 39. Poor Excellent 14% 20% Fair 17% Very Good Good 26% 23% Interpretation: Loan against share is a service which is provided to customers for trading. Overall customers are very happy with the service. 20% said it is excellent, 26% said it is very good, 17% said it is good, 23% it is fair, 14% said it is poor.10. Co-operation by office staff Rating Respondents Excellent 34 Very Good 36 Good 40 Fair 49 Poor 41 39
  40. 40. Poor Excellent 21% 17% Very Good 18% Fair 24% Good 20% Interpretation: Co-operation by office staff is also important factor which will help to know the customer satisfaction level. 17% respondent said it is excellent, 18% co-operation by staff is very good, 20% said it is good, 24% said it is fair and 21% respondents said it is poor.11. Trading through telephone Rating Respondents Excellent 46 Very Good 31 Good 59 Fair 36 Poor 28 40
  41. 41. Poor Excellent 14% 23% Fair 18% Very Good 15% Good 30% Interpretation: Trading through telephone is service provided for customers of the Anand Rathi Share and Brokers Ltd for their convenient. 23% said the service is excellent, 15% it is very good, 30% respondents it is good, 18% said it is fair, only 24% said it is fair.12. Payment collection facility Rating Respondents Excellent 40 Very Good 37 Good 43 Fair 50 Poor 30 41
  42. 42. Poor Excellent 15% 20% Fair Very Good 25% 18% Good 22%Interpretation: Payment collection facility is provided to customers for their convenience. Only 11% respondents said it is excellent, 18% said it is very good, 21% said it is just good, 30 % said it is fair and 20% respondents said it is poor. 13. Brokerage fees Options Respondents More than other brokering firms 102 Same as other brokering firms 53 Less than other brokering firms 45 42
  43. 43. Less than other brokering firms 45 Same as other brokering firms 53 More than other brokering firms 102 0 20 40 60 80 100 120Interpretation:Most of the respondents said that a brokerage fee is less than the otherbrokering firm. Out of 200, 45 respondents said that a fee is less than otherbrokering firms. 102 customers said that fee is more than other broking firm.53 customers said that it is same as other broking firms.14. Source of the information getting about Anand Rathi share and stock brokers ltd for first time Sources Respondents Friend/Family 64 Casual Walk in 69 News Paper/Advertisement 41 Other 26 43
  44. 44. 80 69 70 64 60 50 41 40 30 26 20 10 0Interpretation: Out of 200 respondents 64 said that they got the information about Anand Rathi from friend and family, 69 said in casual walk,41 said that they got information form news paper and advertisement, and rest of the customer said from other sources like internet, recommendation by others etc. 15. Present investment of the customer in Anand Rathi Share and Stock Brokers Ltd Amount of Investment In Rs. Respondents Less than 50,000 31 50,000 to 2,00,000 68 2,01,000 to 5,00,000 87 More than 5,00,000 14 44
  45. 45. More than 5,00,000 14 2,01,000 to 5,00,000 81 50,000 to 2,00,000 68 Less than 50,000 31 0 20 40 60 80 100 Interpretation: Respondents have invested their money in Anand Rathi as shown in above graph. Out of 200, 81 respondents have invested in between 2, 01,000 to 5,00,000. 68 have invested from 50,000 to 2, 00,000. 31 invested less than 50,000 and rest of the respondents have invested more than 5, 00,000. 16. No. of respondents who have faced the problems while trading with Anand Rathi Share and Brokers Ltd.Total No. of respondents No. of respondents who faced No. of respondents who the problems didn’t face the problems200 105 95 45
  46. 46. 95 Yes No 105 Interpretation: Out of 200 respondents 105 said they have faced some problems while trading with Anand Rathi and rest of the respondents said they didn’t faced any problem with the firm.17. Problems faced by the respondents.Problems faced by the respondents RespondentsHidden Charges 17Log in Problems 20Delay in order execution 28Lack of security 13Software speed problem 21Other 06 46
  47. 47. 6 Hidden Charges 17 Log in problem 21 Delay in order execution Lack of security 20 software problem Software speed 13 problem Other 28Interpretation:As shown in above chart ,out of 200 respondents 21 said they had a problem ofsoftware,28 said their order had not been executed on time, 20 said they faced alog in problem, 17 said company had charged them and failed to explain whythose charges were applied to the customer, 13 respondents said the company islacking of security and 6 customer has faced other problems like trading withouttheir permission, ignorance of operators, etc. FINDINGS, SUGGETIONS&CONCLUSION 47
  48. 48. Findings1. Age group: While doing survey, age groups are designed as 18 years to 25 years; in this age group very few customers are interested for investment. Second age group is 26 years to 35 years, most of the investors are belongs to this group. This group is mostly investing in share market. 36 years to 45 years is third group, respondents who belongs to this group are invest money in different options. Last group has been formed as more than 45 years, average respondents are belonging to this group. Mostly the respondents of the group have invested their money in commodity market.2. Investment options preferred by the customer As company offers different options for investment, customer’s majority for investing in four options which are commodity, share market, currency and mutual funds. During the tenure of project, it is found that most of the respondents are invested their money in Share market.3. Customers preference for trading: Company offers to the customer different ways for trading. Particularly in Latur customers have mostly used three ways for trading. 48
  49. 49. 1) Intra Day is a way for trading, in which customer can buy it from the opening of the market, and he/she have to sale it by the time of closing market. In Latur city most of customers have chosen this way for trading. 105 respondents are trading by using this way. 2) Call and Put is another way by using this way customer can trade in different financial instruments. Out of 200 respondents only 34 have chosen this way for trading. 3) Long term investment is another option for trading in which customer can invest his money for long term. There is no limited period for the trading. In Latur city 61 customers are preferred this way for trading. 4. Customer Satisfaction Level:Customers’ satisfaction level is measured by comparing the performance of thecompany and need and expectations of the customers. Near About 70 %respondents are satisfied with the company. 5. Factors which attracts customer towards Anand Rathi:There are many factors which attracts the customer towards Anand Rathi. Out of200 respondents 61 respondents have opened the account at Anand Rathi becauseof the services provided by company. 53 respondents have approached AnandRathi because of their image in market. Credit worthiness of the company isanother factor which is responsible to attract 56 customers. 32 respondents havechosen Anand Rathi for their low charges on new accounting opening. 26respondents have opened account for other different reasons likerecommendation by friend or family. 49
  50. 50. 6. Customers view on getting guidance while trading:Only 14 % customers are dissatisfied with the service which is provided by thefirm. Operators at the firm always provides the information about currentscenario of the market, that customer will be updated and avoid loss. 7. Customers view on different services provided by the company: Customers have rated the services of the company as below. 1) Trading tips in the morning which is one the services of the company. About 60 % respondents are satisfied with service, rest of the respondents are somewhat dissatisfied with the services. 2) Near about 51% respondents are satisfied with service which is putting orders without delay. 3) Company sends the ledgers on time and 68% respondents said they are happy with the service. 32% respondents are dissatisfied with the service. 4) Loan against shares is a service which is provided by the company, most of the respondents are satisfied with the service. Near about 70% customer are satisfied with this particular service. 5) Cooperation by office staff plays an important role. When customers enters in a company, he/she expects the co-operation by the office staff and but the 44 % customers are somewhat dissatisfied with the staff. Company need to improve this kind of service. 6) Trading through telephone is one of the services and respondents are happy with service, this service is helps to invest customer their money at right place.68% customers re satisfied with the service. 50
  51. 51. 7) Payment collection by office staff helps save the customers time. Ifcustomer wants to invest their money, they don’t need to visit office and handover the payment to the staff, simply they can call to office staff and paymentwill be collected. Numbers of customers are satisfied with this service. Only15 % customers are dissatisfied with service.8. Customers view towards brokerage fee:A brokerage fee is one of the important factors according to customers. Whenthis survey has been done customer noted their views about the brokerage feeof the company. Out of 200 respondents 45 respondents tick the option lessthan other brokering firm, 53 respondents said fee is equivalent to othercompany and 102 respondents said the fee is more than other brokering firm.9. Source of getting information about the Anand Rathi share and stock brokers ltd.It is also important to know from which source customers are gettinginformation about the company. Out of 200 respondents 64 said they got theinformation about Anand Rathi share and Brokers ltd from friends andfamily. 41 said they aware about the company through newspaper oradvertisement. 26 respondents said they got information about Anand Rathifrom various sources like internet, recommendation by friend. Rest of therespondents said they got the information by casual walk in.10.Customers present investment in Anand Rathi Share and Brokers Ltd:In a survey, it is found that most of the customers are prefer to invest theirmoney in between Rs. 2,00,000 to Rs. 5,00,000. Out of 200 respondents 81 51
  52. 52. have invested their money in between Rs. 200k to Rs. 500k. Very less i.e.only 14 respondents have invested their money which is above Rs. 5,00,000.11.Advertisement in Latur City:Advertisement of Anand Rathi is very poor in the area of Latur. They shouldadvertise their firm by using hoarding, print media.12. Annual maintaining charge is refundable:It is one of the services of the firm that annual maintaining charge is taken asdeposit. Customers were satisfied with this service.Other competitive companies take annual maintaining charge, but it is notrefundable. But this company will refund the amount of the deposit at thetime of closing of DMAT account. Suggestions1. Training is important to the employees:As compared to other competitors, Anand Rathi provides a better service,that’s why they are holding around 1600 clients. But training to employees is 52
  53. 53. also important because if employees will get trained, they will be able toprovide required information to the customer. So Organization must arrangethe sessions for the employees which will help to give better service to thecustomers.2. Adervertisement should be done:Those who are not aware about Anand Rathi, they will come to know aboutthe firm through advertising. Advertising medium could be anything,Electronic Media, Print Media.3. Account opening amount should be reduced:As compared to other competitors Anand Rathi’s account opening deposit ismore. Anand Rathi is charging Rs. 12,000 per account. Out of this Rs. 10,000is deposit, and Rs. 2.000 is refundable security deposit. Other firms arecharging near about Rs. 4,000 to 5,000. So customers are getting attractedtowards other firms.4. Survey of the customer’s satisfaction should be done after certain spam of 2 months:Survey of customer’s satisfaction will defiantly help to know the customerssatisfaction level. What are expectations of the customer regarding the firm?What are their needs, how those needs can be fulfilled? These things willcome to know the firm by doing survey. Conclusion 53
  54. 54. Anand Rathi is a good brand and providing good services to its customers interms of trading in share market, commodity market, equity market etc, but theyare lacking in awareness in people about their organization. Many mistakes hasbeen done by previous management of the firm, current management shouldovercome those problems. It is duty of the management to retain the oldcustomer rather than activating new.It is a good opportunity for Anand Rathi to gain their customers in market byproviding different services which are adequate to satisfy the need of customer.Numbers of customers are not satisfied due to mistakes of previous management,it very hard to convince old customers for trading. Anand Rathi’s employees aregetting successful to convince the old customers.Many Customers have started their trading again with the firm, and firm haveactivated the SMS system, which is for trading. If trading is done from theaccount of customer, immidietely customer gets an SMS, that trading has beendone from your account, with time, date, amount of the trading etc. Old managerstopped or deactivated this system, that’s why customers were not aware thattrading was going to be done from their account. BIBLOGRAPHY 54
  55. 55. Books: 1. Tapan K.Panda(Professor , IIM indore), Marketing Management, Published by EXECELBOOKS A-45, Phase I, New Delhi- 110028 2. C.R.Kothari, Marketin Research-2nd edition, new age publication, new delhi-2009 3. Philip Kotlar & Kevin Keller, Marketing Management-13th edition, Person Education Publication. Websites: 1. 2. 3. ANNEXURESample of Questionnaire: 55
  56. 56. Customer Name:__________________________________Address:________________________________________Age: 18 to 25 Yrs. 26 to 35 Yrs. 36 to 45 Yrs. More than 45 Yrs.Contact No.:1)__________________2)_________________Email Id:____________________@____________ 1. What is your frequency for trading? Daily Weekly Monthly Yearly 2. Which of the following ways in which you do trading? Intra Day Long Term Investment Call and Put 3. Which of the following investment option in which you have invested? Commodity Share Market Mutual Funds Currency 4. Why did you choose Anand Rathi Share and Stock Brokers Ltd? (You may tick against more than one option, if applicable) Opening Charges Services or Commissions 56
  57. 57. Brokers Image in Market Credit Worthiness and Trust Any other (Please Specify) ____________________________ 5. Rate the following factors for Anand Rathi Share and Stock Brokers Ltd. Services Excellent V. Good Good Fair PoorTrading time guidanceTrading tips in the morningPutting orders without delaySending the ledgers regularlyLoan against sharesCo-operation by office staffTrading through telephonePayment collection facility 6. Brokerage Fees More than other brokering firm Same as other brokering firm Less than other brokering firm 7. Did you face any problem while trading with Anand Rathi Share and Brokers Ltd? Yes No 57
  58. 58. If Yes, What problems did you face? Hidden Charges Log in Problem Delay In order Execution Lack of Security Software Speed Problem8. What is your present amount of investment in Anand Rathi Share and Stock Brokers Ltd? □ Less than 50,000 □ 51,000 to 2,00,000 □ 2,01,000 to 5,00,000 □ More than 5,00,0009. Through which source you got the information about Anand Rathi Share and Brokers Ltd? Friend/Family Casual Walk in News Paper Other (Please Specify below) _______________________10. Your Valuable Suggestions: ________________________________________________________ 58
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