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  • PREFACE : EXECUTIVE SUMMARY“The theory without practice is like lamp without oil”.The theories and practices are complementary and supplementary to each other. Obviously, thetheory and practice are two facts of the sane coin.Hence I have undertaken the on the job training assignment during the two year study period.This on the job training assignment made me practically familiar with the programs being carriedout in the organization.Consumer behavior is the study of when, why, how, and where people do or do not buya product. It blends elements from psychology, sociology, social anthropology and economics. Itattempts to understand the buyer decision making process, both individually and in groups. Itstudies characteristics of individual consumers such as demographics and behavioral variables inan attempt to understand peoples wants. It also tries to assess influences on the consumer fromgroups such as family, friends, reference groups, and society in general.How many times throughout the day do we people make product decisions? If we stop to thinkabout it, many product decisions are made every day, some without much thought. What shouldwe wear? What should we eat? What are we going to do today? Many product decisions areanswered routinely every day and they help move the economy of cities, countries and ultimatelythe world.Product decisions also shape life for the consumer. How can simple decisions be so important?Why do marketers spend millions of dollars to uncover the reasons behind these decisions?Thus consumer behavior it is the study of consumers and the processes they use to choose, use(consume), and dispose of products and services. Consumer behavior incorporates ideas fromseveral sciences including psychology, biology, chemistry and economics. It is a study based onconsumer buying behavior, with the customer playing the three distinct roles of user, payer andbuyer. Research has shown that consumer behavior is difficult to predict, even for experts in thefield. Relationship marketing is an influential asset for customer behavior analysis as it has akeen interest in the re-discovery of the true meaning of marketing through the re-affirmation of 1
  • the importance of the customer or buyer. A greater importance is also placed on consumerretention, customer relationship management, personalization, customization and one-to-onemarketing. Social functions can be categorized into social choice and welfare functions.This also helps in building up their spirit, morale and esprit-de-cops which becomes strength ofthe company. The culture of excellence thus nurtured contributes to growth with stability andcontinuous improvement in productivity.The psychology of how consumers think, feel, reason, and select between different alternatives(e.g., brands, products, and retailers) The psychology of how the consumer is influenced by his or her environment (e.g., culture, family, signs, media); The behavior of consumers while shopping or making other marketing decisions; Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome; How consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and How marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the consumer.The study of individuals, groups, or organizations and the processes they use to select, secure,use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts thatthese processes have on the consumer and society.During my internship I got oriented to:1) Live corporate work culture and exposure to live situation where I was able to see the actualworking of Marketing Managers and got the opportunity to work under them on variousassignments.2) Facilitate the development and shaping of different talent skills of ours.3) To sharpen our skills pertaining- 2
  • --identifying research problems.--Developing relevant questionnaire.--Conducting surveys for the consumers and data compilation, interpretation and reportpreparation.This project assignment exercises during summer training is an extensive exposure towardspractical experiences in the context of a research problem which is undertaken for studyingpurposes.SIGNIFICANCE OF THE STUDY : Success of every business enterprise depends on itsmarketing ability. Money, material and machines are inert factors; but company with its ability tomake the customer to feel, think and believe is the most valuable factor. At the same time humanelements are most difficult to be inspired, controlled and motivated. The upcoming competitionin India will demand high level of understanding of customer‟s mindset. The satisfaction ofcustomers in the organization is a very crucial part for all the Marketing Managers. So with thesethoughts in mind, I chose to carry my project report on Consumer Behavior with reference to ItzCash under Marketing Management.SCOPE OF THE STUDY :1. To structure the consumer behavior towards cash cards and its usage.2. To analyze the level of satisfaction and trust of the customer towards cash cards3. To compare Itz Cards with Debit Cards and Credit Cards.4. To provide a better prospect towards such kind of service.RATIONALE OF THE PROJECT :In today‟s era everything is dependent on technology so as Marketing of any organization for itsproduct is also getting focused towards the same and thereby I chose to do my project onstudying the Customer Behavior towards Itz Cash. The basic reason behind selecting this topicwas because I wanted to know that how much such facilities provided by companies satisfiescustomer. I wanted to learn the actual work and to know that whether this service is followed by 3
  • mass population and is beneficial for the company. Thereby these are the main reason whichinspired me to do project report on this topic.METHODOLOGY OF THE STUDY: Methodology means the method or the process throughwhich the information is collected for research problem. Research calls for developing the mostefficient plan for gathering information. Designing a research plan calls for decision of thefollowing:DATA COLLECTION SOURCES: i) PRIMARY DATA : The normal procedure of primary data collection was done through interviewing customers. For that I took a sample size of 75 individuals whom I contacted through Internet and personally and asked them to fill questionnaire. ii) SECONDARY DATA: The Secondary data was collected by exploring company records, website, magazines and on the basis of the interviews conducted with different Marketing Managers of different companies.RESEARCH APPROACHES: Now, the Primary data can be collected in different ways, but Isought to personal approach through surveys. Surveys are the best suited for descriptive research,it is a process by which candidates are directly contacted and interviewed. I interviewed around75 individuals from various backgrounds and thereby came to the conclusion for my project.RESEARCH INSTRUMENT: There are three main research instruments – Questionnaire,psychological tools and mechanical devices. My research instrument was Questionnaire. AQuestionnaire consists of a set of questions presented to the respondents. The questionnaire isquite comprehensive. It consists closed ended which specify all possible answers and open endedquestionnaire which help them to answer in their own words.SAMPLING DESIGN : How many people should be surveyed. I interviewed around 75respondents which includes the individuals from various backgrounds.SAMPLING PROCEDURE: The respondents were interviewed by contacting though emailsand one to one interview basis. I have selected people of different areas which include students, 4
  • experienced professionals, job-seekers, housewives. I‟ve covered all important areas and thosewhom I can‟t contact face to face I mailed the questionnaire to them through email and got theirresponse..OBJECTIVES OF THE STUDY :In order to work above – mentioned there of the study it is necessary for us to design anobjective protocol and the major objective of the study have been –1) To analyze the satisfaction and knowledge level of customer towards Itz Cash.2) To study the awareness level of Cash Cards in India.3) To figure out the preference of Cash Cards over Debit Cards and Credit Cards.LIMITATIONS OF THE RESEARCH:The various difficulties and problems which I have faced during project relate to certain specificareas but on account of the un-debated enthusiasm, I was able to overcome the limitations. Insearch of perfection, I faced certain problems either environmental or artificial.  Unauthentic interaction with some respondents was not a pleasant experience. Some were hesitant and not willing to give information.  Survey was conducted mostly with those who were less interested in filling any kind of questionnaire and thus it does not provide me the exact picture of the study in whole market scenario.  Due to lack of time and adequate facilities, it was not to survey the whole sum group of individuals.  Unfavorable climate conditions was opposing hurdle which at times created an untoward ambiance.  Limited numbers of Questionnaire were not sufficient for best conclusion. However, in spite of all limitations the total experience was great and the total responses has been compiled, analyzed and assessed and the total interpretation is in the form of the 5
  • subsequent chapters of this report, which shall go a long way in defining and supporting the study. INTRODUCTION TO THE COMPANY Delivering expertise, reliability and business value…. “The only way to discover the limits of the possible is to go beyond them into the impossible” ----Arthur C. ClarkLaunched in year 2006, Itz Cash Card Ltd., is Indias first ever "MultiService Prepaid Card company" and the leader in this sector.Introduced by the highly diversified Essel Group - a businessconglomerate, having businesses in Media and Entertainment, (ZeeNetwork), Tourism and Amusement, (Essel world & Water 6
  • Kingdom), Packaging, (Essel Propack), Publishing(DNA), and Satellite entertainment (Dish TV).ItzCash is another successful venture that has innovated the entire paradigm of payment solutionsacross the web and the mobile. ItzCash Card offers a portfolio of customized e-commerce and m-commerce solutions in the B2B & B2C space.The Essel Group is one of India‟s prominent business houses with a diverse portfolio of assets inmedia, packaging, entertainment, technology-enabled services, infrastructure development andeducation.Essel was started in 1976 with the commodity trading and export firm Rama Associates Limited.Over the years, the Group has metamorphosed into a conglomerate with an estimated turnover of US$2.4 billion (FY 2007).Subhash Chandra is the Founder, Chairman and the chief architect of the Essel Group of companies.The success of all his businesses is an illustration of his pioneering spirit and strong business acumen.Under his leadership, Essel has grown into one of the largest entities and a symbol of Indian ingenuityand power.VISION OF THE COMPANY:Itz Cash has a vision to empower each and every Indian citizen with a prepaid payment - instrument,thus giving them the convenience to transact for digital or physical commerce transactions to availany kind of goods and services.OBJECTIVES OF THE COMPANY:Itz Cash objective is to introduce multipurpose stored value card of various denomination which canbe used to purchase various goods and services from affiliated merchants based on anywhere, anytimeconcept, which would result in increased sales for all affiliated merchants and better safety andconvenience for the consumer. 7
  • OPPORTUNITIES:Itz Cash offers opportunities to various business organizations to sell their product, services toconsumer without any incremental investment from their side. Itz Cash is helping businessorganizations to expand markets, supporting sales channels convergence with its paymentsconvergenceITZ CASH DISTRIBUTION NETWORK: Itz Cash has an extensive pan-India network spanning over 40,000 Itz Cash franchisees branded as Itz Cash World Outlets. Additionally there are approximately 2,70,000 outlets in 2,250 Tier I & II towns in the country under the brand name "Itz Cash Point". Itz Cash – MILESTONES OF ACHIEVEMENT: More than 10 million unique active users and rapidly increasing. Processes more than one lakh transactions daily. Processes more than Rs. 100 mn - Rs. 150 mn worth transactions daily. Largest payment gateway on IRCTC (online railway ticket booking in India) amongst 34 odd payment gateways 8
  • Have won various awards including "Innovative Use of Technology".Itz Cash Card Limited was awarded the Prepaid Award 2011 in the category for Best PrepaidNon-Gift for its noQ24x7 Card and in the category for Best Government Program for ItzCashMunicipal Corporation of Mumbai Octroi Silver Card.Itz Cash Card Limited bagged an award for its ICW Master Account Prepaid Program in theBest Prepaid Program Direct Marketing category and for its noQ24x7 Prepaid Card Programin the Best Non-U.S.-Based Prepaid Program category at the 2011 Paybefore Awards inUSA.ItzCash bagged Edge awards by Network Computing in General Category, for Automation ofOctroi Collection. The award was given after a through scrutiny by an eminent panel of jurorswhich included Dr. Nandlal L. Sarda Professor, Department of Computer Science andEngineering, IIT Bombay & Sushanto Mitra Chief Executive Officer, Society for Innovation& Entrepreneurship (SINE), IIT Bombay.Travel & Tourism Fair India‟s premium travel expo awards ItzCash the Most InnovativeProduct Award.PayBefore, awards the premier awards for the prepaid industry honored ItzCash OctroiAutomation program as the best in the category of Most Innovative Prepaid Program forMunicipal Corporation of Greater Mumbai in the year 2009.ItzCash was also awarded as the best General Purpose Prepaid Card in the year 2008.Won Product of the Year award in the prepaid card category in 2009. ItzCash Card wasawarded as the Best Multipurpose Prepaid Cash Card which was a result of the surveyconducted by A C Nielsen having a sample size of 40000 people across various cities andsectors.Itz Cash Card Ltd. is the first company which has been issued the Certificate ofAuthorization, by the Reserve Bank of India (RBI) under the Payment and Settlement SystemAct, 2007.ItzCash bagged Edge awards by Network Computing in General Category, for Automation ofOctroi Collection. The award was given after a through scrutiny by an eminent panel of jurorswhich included Dr. Nandlal L. Sarda Professor, Department of Computer Science andEngineering, IIT Bombay & Sushanto Mitra Chief Executive Officer, Society for Innovation 9
  • & Entrepreneurship (SINE), IIT Bombay.BOARD OF DIRECTOR: ORGANIZATIONAL FRAMEWORK ASHOK KUMAR GOEL – CHAIRMAN VINOD SETHI – INDEPENDENT DIRECTOR 10
  • BIBEK DEBROY - INDEPENDENT DIRECTORMUKUND MANOHAR CHITALE - INDEPENDENT DIRECTORM.R.UMARJI - INDEPENDENT DIRECTORNAVEEN SURYA – MANAGING DIRECTORAVNISH BAJAJ – NOMINEE 11
  • BEJUL SOMAIA – NOMINEEINVESTORS OF THE COMPANY: 1. Matrix Partners India Investment Holdings, LLC 2. Intel Capital (Mauritius) Limited 3. Light speed Venture Partners VIII Mauritius.PRODUCTS OF ITZ CASH:  ICW MASTER ACCOUNTS - ICW Master Account is an exclusive B2B card which can be used by Itz Cash franchisees to avail over 5000 services. This card is issued to authorized Itz Cash franchisees.ITZ CASH FRANCHISEE ADVANTAGE: More than 5000 services Quick Return On Investment Best Margins to the trade in the industry Dedicated customer care assistance from 8.30am to 10.00pm and many more. 12
  • WHERE TO USE: Rail E-Ticket Air E-Ticket Mobile Recharge DTH Subscription Electricity Bill Payment Mobile Bill PaymentHOW TO USE: Master Card has a 12 digit account number and a 4 digit password at the back of thecard. This account no. and password is necessary for online and on mobile transactions. 13
  •  ITZ DISH CARDS: ItzDish Card is a B2B card and our sales associates can use this card to make customer‟s Dish TV subscription payment. ItzDish Card has been designed specially to give more profit to our sales associates. Card is available in Rs 100/-, Rs 300/ -, Rs 600/- and Rs. 900/- denominations. Itz CASH PLUS CARDS: ItzCash Plus Card is again a B2B card that allows our sales associates to recharge any service providers number at anytime from anywhere. This card works only after user login on www.itzmobile.co.in and will work as a normal scratch card with account number and password. For recharging the number you will get an electronic pin.Card is available in Rs 750/-, Rs 1250/ -, Rs 1800/- ,Rs. 3500/-, Rs. 6000/- and Rs. 9000/- denominations. RELOAD VOUCHER: Mini Pack is a unique solution to recharge your noQ24x7 Card anytime, anywhere. This recharge voucher is a paper scratch voucher which is available in market in a very small and trendy size. DENOMINATION: Mini Pack available in the following denomination: 100/-, 250/-, 500/-, 1000/-, 5000/- 14
  •  MINI PACK USAGE: The backside of the voucher has a 16 digit voucher code which can be unmasked and used to recharge the noQ24x7 Card. The backside of the voucher has a 16 digit voucher code which can be unmasked and used to recharge the noQ24x7 Card Validity: The voucher is valid 1 (one) year from the date of manufacturing Simple steps to Recharge noQ24x7 Card: ITZRCH_Amount_voucher No._Card Account No._Card password to 57575 Note: "_" denotes single space ONLINE: Visit www.itzcash.com and login with the card which user wish to reload Click on reload tab to reload the card. Enter 12 digit voucher no.(available on the voucher) 4 digit password and amount to reload Click on recharge now button to recharge amount from voucher to card A successful reload message will show on screen. *Kindly check your card balance after a successful reload.SERVICES OF ITZ CASH CARD: Itz Cash gives its franchisees a smarter way to make their daily transactions. Through „Where to Use‟ section get connected with our vast list of merchants that provide products and services across all categories. The section has detailed process flow of how you can make payment with Itz Cash and provide service to your customers. 15
  • ONLINE SERVICES ON MOBILE SERVICESONLINE SERVICES: ON MOBILE SERVICES:ITZ BILL PAYMENT SERVICES:The Essel Group foundation was laid way back in 1976, this Group has metamorphosis into aconglomerate embracing new technology and versatile forms of entertainment. The Essel Group ofCompanies is truly an innovative corporation led by the entrepreneurial zeal and vision of Shri.SubhashChandra. 16
  • It started with Essel Packaging wherein India took centre stage in packaging industry with theintroduction of laminated plastic tubes and earned international acclaim. Today Essel Propack enjoysthe numero uno status in the world!While the industry was still coming to grips with this impressive innovation, Subhash Chandra hadalready moved forward. This time it was out of home entertainment: Theme Parks. Again, apioneering concept driven by state of the art technology. With Essel World & Water Kingdom, wefor the first time had amusement parks comparable to rest of the world.The time around, it was not only a big step for Essel Group but more so for India. 1992 saw the birthof Zee TV, Indias first ever satellite television channel. Subhash Chandra had once againrevolutionized entertainment! A proud moment in time that led to the establishment of Indian cable& satellite industry.Driven by consumer preferences, the channel went on to become an unparalleled success story. Italso laid the foundation for a whole host of channels - international, national and regional. Within adecade, the Zee Network had found a place in the heart of every Indian. In the country and overseas.It was clearly a benchmark for others to follow.And just as everybody was guessing on the future of Indian entertainment, Subhash Chandra gavethem a pleasant surprise. And this time too it is the first such entertainment concept in Indian history.Essel Group invites you to Playwin Games of Fortune. Yes, that is how winners win.Group Companies: Media Entertainment: Zee Network 17
  • Zee TV Essel WorldZee TV - UK Water KingdomZee TV - USA PlaywinZee TV - Asia Fun Republic/Fun MultiplexZee Cinema E-City Digital CinemaZee Studio E-City FilmsZee Café Technology-enabled services:Zee Gold CyquatorETC AgraniZee Muzic Intrex IndiaZee Jagran Itz Cash Card Ltd.Zee Trendz Cornershop Entertainment CompanyZee Arabiya Infrastructure Development:Play TV Suncity ProjectsChannel Siti E-City Property Management ServicesDistribution Sports: WWIL Zee Sports Zee Turner Ten Sports Direct-to-home - Dish TV News and Business: DNA Zee NewsEducation: Retailing: ZILS Asian Sky Shop 18
  • Kidzee Fab 5 ZIMA Packaging: ZICA Essel Propack Kidz Care Essel Cares: Kidzee High Essel Awards Regional: Zee Telugu Zee Marathi Zee Punjabi Zee Kannada Zee BanglaPARTNERS OF ITZ CASH CARDS: ItzCash Card Ltd.; a company in the financialservices sector providing payment solutions over the web and mobile.As a financial control tool, ItzCash Card, India‟s First ever „Multi Purpose Prepaid Cash Card‟,uniquely provides Cash management & control solutions in Manufacturer-Distributor-Retailer B2Brelationship for efficient payment collection, dynamic inventory management etc; therebyimproving cash flows and minimizing complicities involved in reconciliation & accounting. In ademand driven market place the card allows the retailer on a single SMS to top-up his deposit limitinstantaneously and capitalize on the increased demand.In B2C applications the card provides the most secure and safest mode of payment for transactionsover the Internet & Mobile by its unique „use & throw‟ feature. Applications such as on-line trainand airline ticket bookings, Energy and Telephone bill payment, on-line shopping; mobile prepaidtop-ups and post paid bill payments are currently enabled. 19
  • Distributed through the FMCG / Prepaid / Electronic / Group co. channels, the card is currentlyavailable in over 200,000 outlets across 2000 Tier I, II and III towns in the country.DISTRIBUTOR, FRANCHISEE AND MERCHANT:Distributor: An authorized ItzCash distributor is the one who is a bridge between ItzCash & itsFranchisees. They take care of all the queries and requirements of authorized ItzCash Outlets.Franchisee: An authorized ItzCash Outlet known as ItzCash World provides services to the endcustomer like booking air tickets, recharge mobile and DTH account, pay electricity, mobile bills andmuch more. Any person, more than 18 years of age with a computer, internet connection and aprinter can become an ItzCash franchisee and earn from day one.Merchant: A Corporate Associate through whom ItzCash facilitates various services and productpayment to the end customers. Some of esteemed partners are: IRCTC, MCGM, Reliance energy,Vodafone, MCD, Yatra, Arzoo, ICICI Lombard etcDATA ANALYSIS AND INTERPRETATION :RESEARCH METHODOLOGY & DATA ANALYSISResearch design – Descriptive analysisData has been collected through primary and secondary research. Primary research was done with thehelp of questionnaireSecondary data was collected through internet, company‟s website journals, books and magazines,etc.Sample size – Response of 75 respondents has been collected through survey. Respondent arestudents, working professionals, housewives and from individual from other organization.Sample element - Sample includes professional housewives, students professionals and peopleworking on various levels in different organization. 20
  • Data has been analyzed through simple mean and findings have been represented with the help ofgraphs and pie charts. Set of questions in form of questionnaire were given to them and on the basisof that various conclusions has been made.QUESTIONNAIRE:After set of basic questionnaire the following questions were asked to the respondents.1. Gender of the respondent : Male or Female. Respondent Male Female Interpretation: The diagram clearly shows that out of 75 respondents 56%were male and remaining 44% were female. 21
  • 2. The age group of card user lies between: Age Group 15-25 25-40 40-60 Above 60 Interpretation: The diagram clearly shows that 29% of respondents were between age of15-25, whereas 32% were between age of 25-40. On the other side 21% of them between age groupof 40-60 and remaining 18% were above age of 60.3.What is your annual income? Annual Income Less than 1 lakh 1-3 lakhs 3-5 lakhs Above 5 lakhsInterpretation: This diagram clearly shows that 18% of individuals have their annual salary of lessthan 1 lakh while 25% of them have between 1-3lakhs. On the other hand 31% of them state theirsalary between 3-5lakhs and remaining 26% states that to be above 5lakhs.4.Which is the area from where they belong to? 22
  • Area Tier 1 city Tier 2 city Tier 3 city Tier 4 cityInterpretation: This diagram shows that 42% of the card users belong to Tier 1 city whereas 28%belongs to Tier 2 city. On the other hand 18% belong to Tier 3 city and remaining 12% belong toTier4 city.5.What is the occupation of the respondent? Occupation Service Man/Professionals Business Man Students House Wives OthersInterpretation: This diagram clearly shows that 26% of individuals were in service or wereprofessionals while 39% of them were in business. On the other hand 12% of them were students and10% of them were housewives and the remaining 13% were from other area of work.6.Which kind of payment mode you prefer to use? 23
  • Kind of Payment Mode Cash Debit Crads Credit Cards Cash CardsInterpretation: The diagram shows that 30% of respondent prefer to pay in terms of cash and ifcards then 32% of the remaining prefer to pay through debit cards while 24% prefer to pay throughcredit cards and the remaining 14% will prefer to pay through cash cards.7.Since how long you have been using the cash cards? Duration Less than 6 months 1-2 years 2-4 years Not using Cash CardsInterpretation: This diagram shows that 10% of respondents are using cash cards since last sixmonths only whereas 28% of them are using it from past 1-2 years. On the other hand 13% ofrespondents using cash cards from 2-3 years whereas remaining 49% don‟t use cash cards as they arein favor of using either cash or debit/credit cards.8.How often do you use card service in a week? 24
  • Weekly Usage Less than 1 time 1-2 times 2-3 times More than 3 timesInterpretation: This diagram clearly shows the status that 29% of respondent use their cards lessthan one time in a week, where as 38% of them use that 1-2 times. 18% of respondents use thatbetween 2-3 times and remaining 15% use that more than 3 times in a week.9.For what purpose you prefer to use Cash/Credit/Debit Cards? Preference of use Shopping Bill Payments Travel/Ticketing Entertainment All of the aboveInterpretation: This diagram clearly shows that 21% of individual prefer to use cards for shoppingwhereas 13% prefer that for payment of bills. On the other hand 28% prefer cards for travel andticketing and 16% prefer it for their entertainment part. The remaining 22% prefer using that for allthe above mentioned reasons.10. How much minimum balance or average quarterly balance you maintain in your cash card? 25
  • Balance maintained Less than 500 500-1000 1000-5000 More than 5000Interpretation: The diagram shows that 32% of cash card users maintain less than 500Rs.as theirbalance where as 42% of them maintain that between 500-1000. On the other hand 23% of themmaintain it between 1000-5000 whereas 3% maintain it more than 5000.11. Are you satisfied with the service provided by the card service you are using? Satisfied or not Very Satisfied Satisfied Indifferent DissatisfiedInterpretation: In this diagram it is mentioned that 12% of respondents are very much satisfied withthe service whereas 57% are satisfied. On the other hand 14% states it as indifferent and remaining17% were dissatisfied.12. Which is the best service provided by ITZ Cash? 26
  • Best Services Online Services On Mobile Services BothInterpretation: This diagram shows that 39% of users believe that Online services are best whereas45% believes that On Mobile Services are best whereas 16% of them were in favor of both theservices.13. Are you satisfied with the services given by ITZ Cash Cards? Satisfied with Itz Cash Yes No Depends Not usingInterpretation: This diagram shows that 41% of respondents are satisfied with Itz Cash whereas12% of them are not satisfied. On the other hand 11% were not sure about their opinion andremaining 36% were not using cash cards.14.How would you rate services of Itz Cash? 27
  • Rating Excellent Good Fair PoorInterpretation: This diagram shows that 21% of users rated the service provided by Itz Cash asexcellent whereas 38% have rated it as good. On the other hand 29% of users have rated it as Fair butremaining 12% have rated it poorFINDINGS OF THE STUDY:From the research done on the completion of this report it is very much clear that the consumerbehavior towards cash cards is satisfactory. As research is being done to study the consumer behaviorregarding cash cards in comparison to credit and debit cards, thus we found that it is very clear thatpeople are more inclined towards credit card and debit card as compared with cash cards but howeverthis is important to note that credit card and debit card is an old concept in India comparatively and isbacked by a well structured and resourceful banking sector. But this is not the case with Cash cardsas it is a new concept and this prepaid cash card concept is growing at a rapid rate and people aregetting aware of this highly useful mode of transaction by each passing day.Prepaid cash card business is very innovative and providing various innovative services which suitesevery strata of society. That day is not far when it will give a fierce competition to its competitors. Itis estimated that the total business of cash card will increase many folds in the coming years.Although Itz Cash which is the biggest prepaid cash card business in India has 95% of its business onB2B basis but it has eased the life of end users which consist professionals, business man, studentsand housewives in a significant manner. There has been a surge in cash card transactions at theIRCTC website with around 13 per cent of rail tickets being booked using pre-paid cash cards. Itz 28
  • Cash card, Indias only "Multi Purpose Prepaid Cash Card", lead the cash card category for onlinebooking of rail e-tickets with more than 78% share.Cornering a significant per cent share of the total online transactions, Itz Cash card has emerged asone of the preferred payment options amongst the 34 payment gateways available.Over 85 per cent of the countrys population does not have banking instruments for onlinetransaction. The number of credit card holders and debit card holders are 2 per cent and 13 per centof population respectively. With this huge void in banking instruments for digital transactions cashcards like ItzCash will play a significant role in the future and growth of digital convergence.Essel Groups pre-paid payment solutions provider Itz Cash is eyeing Rs 4,000-crore revenue andplans to ramp up its retail network under the brand name ItzCash World to 1 lakh outlets in FY 12.Over 85 per cent of the countrys population does not have banking instruments for onlinetransaction. The number of credit card holders and debit card holders are 2 per cent and 13 per centof population respectively. With this huge void in banking instruments for digital transactions cashcards like ItzCash will play a significant role in the future and growth of digital convergence.Usage of cash cards clearly signifies the growth in digital payments and how consumers are lookingat a more convenient mode for purchasing their tickets or paying their utility bills. To provideservices to the consumers company like ItzCash has tied up with more than 5000 merchants andspread across 1800 locations including cities, towns and rural India. The tie-ups across servicesectors facilitate the multi-utility aspect of the card. ItzCash has over 20,000 ItzCash franchiseesbranded as "ItzCash World" and 180,000 outlets in 1800 Tier I and II towns in the country under thebrand name "ItzCash Point". ItzCash through this tie up with IRCTC is been offering an easy andconvenient mode of online booking of railway tickets in Tier 1, Tier 2, Tier 3 cities.RESPONDENT’S OBSERVATION: CONCLUSION OF THE STUDYIt is very much clear from the observation that in today‟s world it is very much important todetermine the behavior of consumer. There are different views of different consumers and there bythe customer may select his/her area of preference that where they want to spend their money. Manyindividuals still prefer to use the traditional methods where either they like to shop by cash or in 29
  • modern methods by debit or credit cards. The number of users of cash card is comparatively less thatthese two.On the basis of my questionnaire and the response of the individuals the following findings has beenderived. The various conclusions have been derived from the summer internship done at ITZ CASHCARD.The observation done through questionnaire shows that out of 75 respondents 56%were male andremaining 44% were female. On the other hand when the age group is being divided then I found that29% of respondents were between age of 15-25, whereas 32% were between age of 25-40. On theother side 21% of them between age group of 40-60 and remaining 18% were above age of 60.Another observation which was to know the annual income of the individuals stated that observation18% of individuals has their annual salary of less than 1lakh while 25% of them have between 1-3lakhs. On the other hand 31% of them state their salary between 3-5lakhs and remaining 26% statesthat to be above 5lakhs.When considered the fact from which area they belong then 42% of the card users belong to Tier 1city whereas 28% belongs to Tier 2 city. On the other hand 18% belong to Tier 3 city and remaining12% belong to Tier4 city. Considering the fact that what are the occupations of the respondents itderived that 26% of individuals were in service or were professionals while 39% of them were inbusiness. On the other hand 12% of them were students and 10% of them were housewives and theremaining 13% were from other area of work.When we consider the preference of payment of respondents then we derived that 30% of respondentprefer to pay in terms of cash and if cards then 32% of the remaining prefer to pay through debitcards while 24% prefer to pay through credit cards and the remaining 14% will prefer to pay throughcash cards.On the other hand considering the time duration that since how long the respondent is using the cardI derived that 10% of respondents are using cash cards since last six months only whereas 28% ofthem are using it from past 1-2 years. On the other hand 13% of respondents using cash cards from 2-3 years whereas remaining 49% don‟t use cash cards as they are in favor of using either cash ordebit/credit cards. 30
  • The frequency of using credit card in a week is also not that much high as it is being derived that29% of respondent use their cards less than one time in a week, where as 38% of them use that 1-2times. 18% of respondents use that between 2-3 times and remaining 15% use that more than 3 timesin a week.When I considered the fact about the purpose of using cards then 21% of individual prefer to usecards for shopping whereas 13% prefer that for payment of bills. On the other hand 28% prefer cardsfor travel and ticketing and 16% prefer it for their entertainment part. The remaining 22% preferusing that for all the above mentioned reasons.Another point was to know the minimum balance being maintained by the respondent in their cashcard and in that I derived that 32% of cash card users maintain less than 500Rs.as their balance whereas 42% of them maintain that between 500-1000. On the other hand 23% of them maintain it between1000-5000 whereas 3% maintain it more than 5000.Another point which was there to know about the level of satisfaction from the card service they areusing then in that12% of respondents are very much satisfied with the service whereas 57% aresatisfied. On the other hand 14% states it as indifferent and remaining 17% were dissatisfied.When it comes to considering the best service given by Itz Cash then 39% of users believe thatOnline services are best whereas 45% believes that On Mobile Services are best whereas 16% ofthem were in favor of both the services.Now when I asked the respondent about that how much they are satisfied with Itz Cash then 41% ofrespondents are satisfied with Itz Cash whereas 12% of them are not satisfied. On the other hand11% were not sure about their opinion and remaining 36% were not using cash cards.And lastly when I asked them to rate the services provided by Itz Cash then 21% of users rated theservice provided by Itz Cash as excellent whereas 38% have rated it as good. On the other hand 29%of users have rated it as Fair but remaining 12% have rated it poor. 31
  • ANNEXURE Questionnaires on E-recruitment process1. Gender of the respondent - Male or Female ________________2. The age group of card user lies between: i. 15-25 ii. 25-40 iii. 40-60 iv. 60 and above3. What is the annual income of the respondent? i.Less than 1lakhs ii.1-3 lakhs iii.3-5 lakhs iv.Above 5lakhs.4. Which area do they belong? i.Tier 1 city ii.Tier 2 city iii.Tier 3 city iv.Tier 4 city5. What is the occupation of the respondent? i.Serviceman ii.Businessman iii.Student iv.Housewives v.Others 32
  • 6. Which kind of payment mode you prefer to use? i. Cash ii. Cards, If Cards then ______________ Debit Card _______Credit Card _______Cash Cards________ 7.Since how long you have been using the cash card? i. Less than 6 months ii. 1-2 years iii. 2-4 years iv.Not using cards. 8. How often do you use card service in a week? i. Less than1 time ii. 1-2 times iii.2-3 times iv.More than 3 times.9. For what purpose you prefer to use cash/credit cards? i. Online Shoppingii.Bill Paymentsiii.Travel/Ticketingiv.All of the above 33
  • 10. How much minimum balance or average balance you maintain in your cash cards? i. Less than 500 Rs. ii. 500-1000 iii. 1000-5000 iv.5000 and Above11. Are you satisfied with the service provided by card services you are using? i. Very satisfied ii. Satisfied iii. Indifferent iv. Dissatisfied12. Which is the best service provided by Itz cash? i. Online Servicesii. On mobile services.iii. Both.13. Are you satisfied with the services given by Itz Cash?i. Yesii. Noiii. Fullyiv.Not using14. How would you rate services of Itz Cash? 34
  • i. Goodii. Fairiii. Poor15.Any Suggestions _______________________BIBLIOGRAPHY:BOOKS: Ramaswami and Namakumari, Marketing Management,Consumer-Behavior-9thEdition-Michael Solomon 35
  • ARTICLE : P Nelson - The Journal of Political Economy, 1970 - JSTORWEBSITES: http://www.itzcash.com/index3.html 36