A Study Of Customer Satisfaction Of The Products And Services Offered By Axis Bank 566l5s
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SUMMER INTERNSHIP PROJECT ON A STUDY OF CUSTOMER SATISFACTION OF THE PRODUCTS AND SERVICES OFFERED BY AXIS BANK SUBMITTED IN PARTIAL FULFILLMENT FOR THE AWARD OF THE DEGREE OF BACHELOR OF BUSINESSS ISTRATION 2011-2014 UNDER THE GUIDANCE OF: MR.VINAY AGGARWAL FACULTY, MAIMS SUBMITTED BY: AKARSH JAIN Roll no- 0521412121 BBA (banking and insurance)
MAHARAJA AGRASEN INSTITUTE OF MANAGEMENT STUDIES d to Guru Gobind Singh Indraprastha University, Delhi PSP Area, Plot No.1, Sector-22, Rohini, and Delhi 110085
STUDENT UNDERTAKING This is to certify that I have completed the Project titled “A STUDY OF CUSTOMER SATISFACTION OF THE PRODUCTS AND SERVICES OFFERED BY AXIS BANK” in under the guidance of “ MR Vinay Aggarwal ” Faculty, MAIMS in partial fulfillment of the requirement for the award of internship certificate of axis bank for Bachelors Of Business istration at Maharaja Agrasen Institute of Management Studies, Delhi. This is an original piece of work & I have not submitted it earlier elsewhere.
Sumit Jain
3
CERTIFICATE This is to certify that the project titled “A STUDY CUSTOMER SATISFACTION OF THE PRODUCTS AND SERVICES OFFERED BY AXIS BANK” is an academic work done by “sumit Jain” submitted in the partial fulfillment of the requirement for the award of Internship certificate of axis bank from Maharaja Agrasen Institute of Management Studies, Delhi, under my guidance & direction. To the best of my knowledge and belief the data & information presented by him/her in the project has not been submitted earlier.
MR. GAURAV AGGARWAL FACULTY, MAIMS
4
ACKNOWLEDGEMENT I have great pleasure in presenting my project on “A STUDY ON CUSTOMER SATISFACTION OF THE PRODUCTS AND SERVICES OFFERED BY AXIS BANK”. I take this an opportunity to express my deepest gratitude and ineptness to all those who contributed indirectly their valuable time and assisted them in my project. I would like to thank my guide Mr. Sumit AGGARWAL for his valuable guidance and in completing my project. Last but not the least i would like to express my sincere thanks to those who directly and indirectly helped me in this project.
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A PROJECT REPORT ON
“A STUDY ON CUSTOMER SATISFACTION OF THE PRODUCTS AND SERVICES OFFERED BY AXIS BANK”
6
TABLE OF CONTENTS
S.no
Particulars
Page No.
Acknowledgment Student Declaration Certificate From Guide Certificate From Company Executive Summary
i ii iii iv v
Chapter-1 - Introduction 1.1 Overview about Industry 1.2 Objective of the Study
3 5
Chapter-2 - Company Profile 2.1 Profile of the Company 2.2 Various Products offered by the Company
6 11
Chapter-3 - Research Methodology 3.1 General Methodology 3.2 Data Sources 3.3 Research Design 3.4 Sampling Design 3.5 Limitation Chapter-4 - Customer Satisfaction
20 20 21 22 23
4.1 Defination 4.2 Customer Satisfaction and Loyality 4.3 Measures Of Customer Satisfaction
25 26 27
Chapter-5 - Data Analysis
32
Chapter-6 - Findings and Recommendations
57
Bibliography
vi
Annexure – Questionnaire
vii
1
CHAPTER – 1 INTRODUCTION
INTRODUCTION 2
1.1 OVERVIEW OF THE INDUSTRY The bank in the framework of value creation and value network Concepts, can be viewed as a firm operating through different layers: (1) Access or distribution layer - the study of bank customer behavior can provide useful insights into customer utilization of different access media (offices and branches, ATM, Internet etc); (2) Payment mediation layer - money can be transferred between different owners and/or places through various transfer mechanisms (cash, ATM, payment and credit cards etc); (3) Capital mediation layer - pooling of funds and their redistribution according to customers' needs; (4) Risk mediation layer - the banks pool customers with different risk characteristics and manage overall network risks, primarily systematic risk. It is important that both the bank and the customers can benefit from the development of relationships in the value creation process. Banking (and individual banks as firms) will probably face essential structural changes in the nearest future. Lewellyn pointed out three main reasons why the changes in the financial sector are likely to be so substantial •
A powerful combination of various pressures operating on the industry (competitive pressures, globalization, consumer changing trends, competition coming from the capital market etc.)
3
•
Some of the pressures (especially new technology) challenge the core of financial business;
•
Competition is not only intensifying but (as entry barriers are declining) coming from new types of competitors. It seems that the pressures are more evident in wholesale banking (competition from markets has been more powerful), but they are developing also in retail banking and the differences are eroding.
It becomes increasingly important to identify and enumerate changing customer needs. The customers' satisfaction should be the central element of the bank mission and one of the priority objectives of long-term customer-oriented strategy. Especially important is to study customers' satisfaction and bank services quality in emerging market economies where banks are behaving as growth-oriented firms in the tight struggle for obtaining a bigger market share. Understanding of client's desire, needs and demands is an important input to the elaboration of an efficient marketing strategy both in banks and other firms.
4
1.2 OBJECTIVE OF THE STUDY The project is titled “Customer Satisfaction of the products and services offered by Axis Bank” - A tool for measuring satisfaction level among current customers and the services that are to be included. The purpose is to: •
To measure the customer satisfaction regarding the various products and services offered by Axis.
•
To determine services, which the customers feel, must be there.
•
To determine the most popular and widely used services by the Savings bank and holders.
•
To locate the lacking area and suggest some improvements in the existing services for mutual benefits of the bank and its customers.
The level of customer satisfaction with services is an important factor in developing a system of service provision which is responsive to clients’ needs while minimizing costs and time requirements and maximizing the impact of the services on target populations.
5
CHAPTER –2 COMPANY PROFILE
6
2.1 COMPANY PROFILE Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses. The Bank has a large footprint of 1947 domestic branches (including extension counters) and 11,245 ATMs spread across the country as on 31st March 2013. The Bank also has overseas offices in Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi. Axis Bank is one of the first new generation private sector banks to have begun operations in 1994. The Bank was promoted in 1993, tly by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of India),Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The shareholding of Unit Trust of India was subsequently transferred to SUUTI, an entity established in 2003. With a balance sheet size of Rs.3,40,561 crores as on 31st March 2013, Axis Bank has achieved consistent growth and stable asset quality with a 5 year CAGR (2009-13) of 26% in Total Assets, 24% in Total Deposits, 27% in Total Advances and 37% in Net Profit. Axis Bank Ltd. has been promoted by the largest Financial Institutions of the country, UTI, LIC, GIC and its subsidiaries. The Bank was set up in 1993 with a capital of Rs. 115 crore, with UTI contributing Rs. 100 crore, LIC - Rs. 7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5 crore each. RATINGS:
7
‘ICRA AA’ for Lower Tier II subordinate debt program and ‘ICRA AA-‘ for Upper Tier II bond program by ICRA. ‘CRISIL A1+’ for certificate of deposit program by CRISIL. ‘CARE AA’ for Lower Tier II subordinate debt program by CARE. ‘Fitch AA-‘ for Long Term Debt Instruments and ‘Fitch A1+’ for Short Term Debt Instruments by Fitch Ratings. BRANDS: Axis Bank has been aggressive in its brand building program since last year. As a part of the brand building exercise, the bank has taken many initiatives which have helped the brand connect up with the customers & enhance the visibility quotient. Axis Bank had launched its first ever mass media campaign in July 2007 along with its punchline “Everything is except the Name same” and since then, the bank has been consistent in communication through Television, Radio, and Outdoor & print advertising. Axis Bank understands its customers’ money is not just money. It is the vehicle to realise their dreams! Hence, the bank aims to ensure that the customers’ experience with the bank is pleasant and enriching. That they get value for their money, enabling them to lead a richer, fuller, content life... For this, the bank: •
Offers a new level of banking – better services, better understanding of unique needs and better management of finances.
•
Demystifies the banking process and makes it more accessible.
•
Apart from fulfilling traditional banking responsibilities, advises customers on how and where to use their money to get the best out of it.
•
Projects an image of being a young, energetic, modern bank with values of dynamism, confidence and progression.
Further, as a banking partner, the bank also aims to help its customers discover how they can do more things with their money.
8
In the recent advertising campaign, the Bank reinforces its focus on Innovative banking based on the philosophy of Responsive Innovation. The bank is taking ‘responsiveness’ theme to customers and reinforces its commitment to give best-of-class services in the industry.
MISSION Customer service and Product innovation tuned to diverse needs of individuals and corporate clientele.Progressive globalization and achieving International standards.Efficiency and Effectiveness build on ethical practices.
VISION To be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and smart use of technology.
Core Values •
Customer Centricity
•
Ethics
•
Transparency
•
Teamwork
•
Ownership
9
STRATEGY 1.
Identify and projects and programs that are within its focus areas and, Have a large-scale and measurable impact; Are replicable in a cost effective manner; and Are time- bound.
2.
Identify and pilot projects within its focus areas.
3.
Contribute towards improving the efficacy of assisted organizations
through;
Capacity building; Providing access to research and information; and providing platforms for an effective exchange of ideas, thoughts and experiences.
10
2.2 Various products offered by the company Savings s Axis Bank presents a Savings Bank which offers a host of features and benefits for you and your family.
Zero Balance Youth Zero Balance Saving with Debit Card Facility for your child
Debit Card Axis Bank presents a suite of to utility Debit Cards , that come loaded with features to make banking effortless for you. Choose from any of the following: Priority Platinum VISA Debit Card Titanium Rewards VISA Debit Card Ladies First VISA Debit Card Use your card to earn reward points even on your daily transactions. Go shopping, pay utility bills, invest through SIPs or even withdraw cash and choose to get rewarded or auto cash back into your through Axis Money. •
Easy Access to
11
•
Access Axis Bank ATMs across India for cash withdrawals, cash/ cheque deposits, VISA Credit Card bill payment, balance enquiry, mobile top-up and other miscellaneous requests, all for free
•
Access cash for withdrawal at over 80,000 ATMs in India, through our network partners – VISA & NFS
•
Access your funds at over 1 million VISA ATMs worldwide and 26 million VISA merchant outlets
•
5 Free Domestic Other Bank ATM transactions in a month (Cash withdrawal, Balance Enquiry, PIN change OR Mini Statement), Unlimited if previous month’s Average Monthly Balance is equal to or more than Rs. 10,000/-
•
Safe & Secure online shopping- for Verified by Visa (VbV) and use your card for online shopping & e-Payments
•
Limits on card flexible
•
Mobile Top -up at ATMs
Banking at your convenience •
Access & transact on your from any of our branches across India completely FREE, be it for deposits, withdrawals or any other transactions
•
Doorstep Banking at select locations – Free Cheque Pickup and Demand Draft Delivery
•
Free Demand Drafts (upto Rs.25,000/- per day) at all our branches
•
Toll Free centre access to our Service Staff
Internet Banking •
Free Internet banking service
•
Free Bill Payment and Online Railway Ticket booking facility 12
•
Free Funds transfer through NEFT and RTGS
Multicity Cheque Book •
Free personalised Multi-city Cheque Book
Standing Instructions •
Free standing instructions, Sweep-In facility
Statements & Nomination •
Free Quarterly Statements / Monthly e-Statements / Book facility
•
Nomination facility available
No Need to Carry Cash Anymore •
Online Bill Payment, Railway Ticket Booking, e-Shopping
•
Mobile Top-ups at ATMs
•
Credit Card Bill Payment (VISA Cards) over ATM and Internet
•
Cash-less shopping with VISA Debit Card
•
Free funds transfer - Use RTGS or NEFT to transfer funds anywhere in India completely FREE
Investments Axis Bank offers you personalised investment options to help achieve your financial objectives. Solutions are tailor-made to suit each individual's requirements. We offer a host of financial instruments that includes Fixed Deposits, Mutual Funds, Bonds and Insurance products.
Insurance 13
Axis Bank offers customized solutions that include Accident, Health, Liability, Marine, Motor, Property, Travel & Rural Insurance for individuals as well as corporate customers in association with Max Life Insurance Ltd. And TATA AIG General Insurance Ltd.. Axis Bank has tied up with Tata AIG General Insurance Company Limited (‘Tata AIG’) as a Corporate Agent for General Insurance to offer you a range of General Insurance products from Tata AIG backed by its award winning Customer and Claims Services.
The Axis Bank-Tata AIG synergy will offer products for a range of insurance needs such as Motor, Health, Travel, Home for retail customers and Marine, Liability, Property etc for corporate customers. This association will leverage the strengths of both companies; to bring to Axis Bank customers a comprehensive suite of insurance products designed to protect all aspects of their lives. Tata AIG is a t venture between the Tata Group and AIG Inc. Tata AIG combines the Tata Group's values and pre-eminent leadership position in India and AIG's global presence as the world's leading international insurance and financial services organization. NRI’s Axis Bank’s range of NRI products and services offer you unmatched benefits that take care of more than just your basic banking requirement. We believe in constantly innovating and providing best-in-class products and services that make banking quicker, easier and simpler. International Debit Card : You get an International Debit that enables you to access your at any Visa terminal overseas Pay Orders : You can issue pay order from your , absolutely free of charge. Free Payable-at-Par Chequebook : You get a payable-at-par chequebook for use in India Doorstep Banking : This unique facility provides you the convenience of transaction from the comfort of your home, during your visit to India. This facility is applicable for non-cash transactions only 14
Free SMS Alerts : This facility enables you to track your on a daily basis. This facility is currently available in 8 international geographies only. Free Internet Banking : The Internet Banking facility enables to you access your anytime, from anywhere. Free Utility Bills Payment : Using this facility, you can pay utility bills with select utility service providers in India. NEAT (NRI Enquiry Assistance Tracker) : A unique service that facilitates you to seek responses to your queries related to banking, taxation, legal & finance.
Axis Net Internet Banking Banking at the click of a mouse! Just for your banking needs!AxisNet - Internet Banking service from Axis Bank that offers you a wide range services - A service which is convenient to use and puts you in control of your finances anytime, anywhere.
Remittances Axis Bank offers a full range of money transfer services for all types of funds from anywhere in the world. As an NRI across the world, you are assured of fast, convenient and personalized services at Axis Bank. We offer you a host of online as well as telegraphic options to transfer money to India. Our tie-ups ensure quick and efficient transfer of your funds across the world. Modes of transferring money : Telegraphic Transfer/ Wire Transfer Fund Transfer Through Exchange Houses Fast Remit for NRIs in USA
15
Remittance through Money Transfer Services
Axis Forex Foreign exchange is a critical requirement for a person traveling abroad. Axis Bank brings to you Axis Forex that will help you organize your foreign exchange in the most hassle free manner. Avail Foreign Currency Bank Notes, Travelers Cheques or buy an Axis Forex Card for your travel abroad under leisure, business education etc and keep your Forex worries off your check list. Our Forex services include: •
Axis Forex Card available in USD, GBP, EURO, SGD & others
•
Competitive rates for buying & selling of bank notes in all major currencies
•
Foreign Drafts & Telegraphic Transfer available in USD, GBP, EURO, NZD, CAD, AUD, SGD etc
•
Facility of FX sales against RTGS/INR DD to non holders
Know more about bouquet of our services below.
Corporate & Investment Banking Axis Bank provides a wide array of commercial, transactional and electronic banking products to corporate clients in India, both large, and small and medium scale enterprises. We have innovative products designed with focused approach to suit requirements of various segments. We offer corporate banking services including working capital finance, term loans, trade and transactional services, foreign exchange and cash management services. The facilities are structured to meet specific needs of the client taking into a client's risk profile. With our strong customer oriented approach, we have built relationships with a number of Indian companies including multinationals, well known domestic business houses and public sector companies.
16
Corporate & Investment Banking Group (C&I) is an integral and important part of the CCB which focuses on offering a wide array of banking & financial services to large domestic corporate groups, local large corporates as well as local operations of multinationals.
Our product offerings include working capital finance, trade finance, channel financing, term loans, letter of credit, bank guarantees to name a few. These products offerings are suitably tailor made based on the client requirements and its credit profile. Based on the in-depth industry knowledge, we endeavor to add value to your business through superior product delivery and service levels benchmarked to industry’s best practices.
Commercial Banking Recent years have seen rapid growth in the Small and Medium Enterprises (SME) sector, and an enhanced appreciation of this sector's critical role in driving economic growth. Commercial Banking Group at Axis currently caters to small and mid size corporates and groups spanning SMEs, Mid-markets and Emerging Corporates, which in essence form the ‘sweet spot’ of the Indian economy.
We have developed a strategic focus on the SME sector characterized by relationshiplending approach, deep understanding of your growing business requirements and products and services that help you manage your cashflows in a better way. Fund Based Services (FB) Working Capital Finance Short Term Finance Bill Discounting 17
Export Credit Term Lending Buyer’s Credit / Supplier’s Credit Asset based financing Non Funded Based Service Letter of Credit Bank Guarantees Collection of Documents Value-added Services Channel Financing Associate Financing Cash Management Services Corporate Salary s Liability/ Investment Products
18
CHAPTER –3 RESEARCH METHODOLGY
19
3.1 General Methodology The methodology adopted for preparing this report was based on both primary as well as secondary information. The locale of the study was restricted to Karol Bagh , New Delhi. The first stage included gathering information about the bank’s profile, various products and services being offered by the bank and getting acquainted with the working of the bank. The second stage involved determining the objective of the study and drafting a questionnaire. The questionnaire was designed keeping in mind the objectives of the study. It is disguised in nature included a mix of open-ended and close-ended questions. In the third stage, visits were made to branch of Indusind bank for collection of data. 60 respondents were surveyed.
3.2 Data Sources The research can call for gathering primary data, secondary data or both. The data has mainly been collected via primary sources.
20
However a good amount of secondary data was also used to have a general understanding of the subject.
Primary Sources The primary data is gathered for specific purpose and is collected by the researcher himself. It includes direct communication and from customers, sales & marketing executives of Axis bank and any other related person. For the purpose of collecting information from customers structured questionnaires was formulated and are ed directly.
Secondary Sources The secondary sources are data was collected for another purpose and already exists some where. The secondary source of information here includes library resources at Axis bank, articles in various newspapers and magazines, product catalogs and online resources like company website, online reports and articles.
3.3 Research Design The research conducted was descriptive in nature and the goal was to gather preliminary data to shed light on the real nature of problems and to suggest possible solutions. For the purpose of this project, we went for a questionnaire-based survey of customers Research Instrument For the purpose of this project, a questionnaire was designed to collect data, which includes mix of open-ended and close-ended questions. A survey technique is being used to collect the data. During the project a survey of bank customers using personal interview was done at
21
random at different Axis bank branch in Karol Bagh, Delhi and a predetermined structured questionnaire was istered to them. Only those individuals which had knowledge of English language and about the Bank were surveyed.
3.4 Sampling Design Sampling Unit The study was restricted to Delhi region only. Keeping in mind convenience to sample because of accessibility, lack of abundance of time and cost and because of the fact that the population of this city is composed of people of diverse background, income level, lifestyles etc. The samples were chosen on the basis of simple random sampling. The sampling unit comprised of the people holding Savings , Current holders present in the Karol Bagh branch of the Axis Bank. Sampling size The sample size taken for the purpose of study was 80 customers of the Axis bank at the Karol Bagh branch in Delhi. Sampling Procedure
22
Research was restricted to single branch of Axis bank and prescribed number i.e. 80 customers are to be surveyed .The surveyed respondents belonged to the age of 18 years & above and having a fair knowledge of English language. Method Customers are to be directly ed after intercepting them within the branch premises. The samples were chosen on the basis of simple random sampling.
3.5 Limitations: The survey was restricted to only one branch because of time and resources constraints. Therefore the generality of the findings cannot be claimed until further research has been carried out. The locale of the study was selected keeping the convenience factor in mind which in present research is Delhi in Karol Bagh Branch. The sample size is 80, in which 20 did not responded which may not reflect a true picture of the consumer’s mind. The situation in which person is questioned about routine actions is an artificial one at best. Due to the influence of questioning process, respondents may furnish quite different information from facts.
23
The respondents are chosen through simple random sampling and only the persons who have knowledge of English language are surveyed. It is also pretty hard to pursue a customer to share his feelings as they are in a hurry so possibility of biases of the respondents may not be precluded.
CHAPTER –4 CUSTOMER SATISFACTION 24
4.1 Definition of Customer Satisfaction Customer Satisfaction can be defined as “An emotional response to the experiences provided by associated with particular products or services purchased, retail outlets or even molar patterns of behavior such as shopping and buyer behavior as well as over marketplace”[ Westbrook & Reilly] “An outcome of purchase and use resulting from the buyers comparison of the rewards and the costs of the purchase in relation to the anticipated consequences.”[Churchill & Superman] The customer’s response to the evaluation of the perceived discrepancy between prior expectations and the actual performance of the product as perceived after its consumption. “The result achieved when product features respond to customer needs.”by Juran on Quality By Design Cortada and Woods define customer satisfaction in two ways: The delivery of a product or service that meets or exceeds customer expectations or requirements.
25
4.2 CUSTOMERS SATISFACTION & LOYALTY The project is titled “Customer Satisfaction of the products and services offered by Axis Bank ” - A tool for measuring satisfaction level among current customers and the services that are to be included. The purpose is to: •
To measure the customer satisfaction level regarding the various products and services offered by Axis.
•
To determine services add-ons, which the customers feel, must be there.
•
To determine the most popular and widely used services by the Savings bank and holders.
•
To locate the lacking area and suggest some improvements in the existing services for mutual benefits of the bank and its customers.
The level of customer satisfaction with services is an important factor in developing a system of service provision which is responsive to clients’ needs while minimizing costs and time requirements and maximizing the impact of the services on target populations.
26
In order to develop a service delivery mechanism that addresses its customers’ needs, desires and expectations, it is necessary to know what customers are thinking about you and your service, To improve satisfaction and loyalty ratings and differentiate from the competition, banks need to understand what drives satisfaction and loyalty, and where there is greatest opportunity for improvement. There is little point in investing resources in areas that are already performing well, Colgate says or in areas not important to satisfaction and loyalty. Whether there’s room for improvement to satisfaction and loyalty, whether there’s room for improvement there or not. It becomes increasingly important to identify and enumerate changing customer needs. The customers' satisfaction should be the central element of the bank mission and one of the priority objectives of long-term customer-oriented strategy. Especially important is to study customers' satisfaction and bank services quality in emerging market economies where banks are behaving as growth-oriented firms in the tight struggle for obtaining a bigger market share. Understanding of client's desire, needs and demands is an important input to the elaboration of an efficient marketing strategy both in banks and other firms
4.3 Measure to improve performance for higher customer satisfaction: •
Turn your strongest areas into market differentiation.
•
Turn weaknesses into opportunities for improvement.
•
Develop internal communication tools to let everyone know how they are doing.
•
Demonstrate your commitment to quality and your customers.
27
•
and information form important elements in effective service delivery systems and should include:
There are a variety of ways to measure customer’s satisfaction, but in this study a simple method – Importance-Performance Matrix developed by Fort Sanders. (1) Level of importance of services provided, and (2) Service provider’s performance in giving services. Based on these factors, the customers themselves make an appraisal of the level of satisfaction they receive from specific goods and services and of their confidence in the capabilities of the service providers.
HIGH
CUSTOMER MEDIUM
SATISFACTION: The
percentage
LOW
CUSTOMER of
SATISFACTION:
SATISFACTION:
respondents who report an The
percentage
of
importance rating of greater respondents who report than 3 (4) and a performance an importance rating of rating of greater than 3 (4). average (3) and also a In this situation clients find performance rating of that
the
performance
CUSTOMER
of average (3).
service providers is good for services that they consider important to their production 28
The percentage of respondents who
report
an
importance
rating of average to very high (3 or 4) but a poor or very poor performance rating (2 or 1).
decisions.
INEFFICIENT SERVICES: Another key area of the client satisfaction matrix percentage of respondents who consider the services unimportant (importance rating 2 or 1) but the performance of the service provider in giving services is rated average to very good (performance rating 3 or 4). This category represents two possible scenarios: either a waste of banks resources (because unimportant services are being performed well) or programs for which there are very positive externalities that are not recognized by customers. This help’s the service provider in identifying the factors or areas where more resources are to be invested, and the priority in which the investment is to be made and the factors or areas where changes will have little impact on satisfaction and loyalty. It's a well-known fact that no business can exist without customers. Steps to increase satisfaction among Customers are:
1. Encourage Face-to-Face Dealings This is the most daunting and downright scary part of interacting with a customer. If you're not used to this sort of thing it can be a pretty nerve-wracking experience. Rest assured, though, it does get easier over time. It's important to meet your customers face to face at least once or even twice during the course of a project.
2. Respond to Messages Promptly & Keep Your Clients Informed
29
This goes without saying really. We all know how annoying it is to wait days for a response to an email or phone call. It might not always be practical to deal with all customers' queries within the space of a few hours, but at least email or call them back and let them know you've received there message and you'll them about it as soon as possible. Even if you're not able to solve a problem right away, let the customer know you're working on it.
3. Be Friendly and Approachable It's very important to be friendly, courteous and to make your clients feel like you're their friend and you're there to help them out. There will be times when you want to beat your clients over the head repeatedly with a blunt object. It's vital that you keep a clear head, respond to your clients' wishes, as best you can, and at all times remain polite and courteous. 4. Have a Clearly-Defined Customer Service Policy This may not be too important when just starting out, but a clearly defined customer service policy is going to save a lot of time and effort in the long run. If a customer has a problem, what should they do? If the first option doesn't work, then what? Should they different people for billing and technical enquiries? If they're not satisfied with any aspect of your customer service, whom should they tell? There's nothing more annoying for a client than being ed from person to person or not knowing who to turn to. Making sure they know exactly what to do at each stage of their
30
enquiry should be of utmost importance. So make sure your customer service policy is present on your site -- and anywhere else it may be useful. 5. Attention to Detail (also known as 'The Little Niceties' ) Have you ever received a Happy Birthday email or card from a company you were a client of? Have you ever had a personalized confirmation email for a service that you could tell was typed from scratch? These little niceties can be time consuming and aren't always cost effective, but to do them. Even if it's as small as sending a Happy Holidays email to all your customers, it's something. It shows you care; it shows there are real people on the other end of that screen or telephone; and most importantly, it makes the customer feel welcomed, wanted and valued. 6. Anticipate Your Client's Needs & Go Out Of Your Way to Help Them
Out Sometimes this is easier said than done! However, achieving this supreme level of understanding with your clients will do wonders for working relationship. 7. Honour Your Promises This is the most important point in this article. The simple message: when you promise something, deliver. The most common example here is work delivery dates. Clients don't like to be disappointed. Sometimes, something may not get done, or you might miss a deadline through no fault of your own. Projects can be late, technology can fail and sub-contractors don't always deliver on time. In this case a quick apology and assurance it'll be ready ASAP wouldn't go amiss. 31
CHAPTER –5
32
DATA ANALYSIS AND INTERPRETATION
5.1 DATA ANALYSIS AND INTERPRETATION The data, which was collected, was summarized and tabulated for further analysis. The analysis performed was mainly comparative analysis using statistical analytical tools. The tools that have been used are as follows: Questionnaire Bar Chart Pie Chart
5.1 Demographic and other information: Among the 60 customers surveyed: Ques: Demographic profile of the respondent??
33
(1)
Male
48
Female
12
As shown in Fig 5.1.1 Majority of customers surveyed were male customers who
constituted the major chunk of 80% as compared to female which are just 20%. This is because very few females turn up to the bank and the number of females interested to be surveyed was pretty less.
demographic profile 20% 80% male female
Fig 5.1.1 Demographic profile (gender) (3) Ques: Age Group? As shown in Fig 5.1.2 Majority of Customers surveyed was in the age group of 30-40 i.e. 20 followed by 12 customers in the age group of 40-50yrs and minimum in the age group of 1820yrs i.e. 5 The customers in the age group of 20-30 yrs are 10 and in 50-60yrs are 8 only and above 60 i.e. 5 only. Age Group
Male
Female
18-20
4
1
20-30
8
2
30-40
16
4
40-50
9
3
50-60
6
2
60 above
5
34
Fig 5.1.2 Demographic profile (age)
(4) Ques. Type of the you have with the bank. As shown in Fig 5.1.3 majority of customers surveyed were of savings holding savings with the bank i.e. 54 and only 10% customers surveyed were having .
Savings
54
6
35
Fig 5.1.3 Type of
(5) Ques. Period Of Association?? <6 months
15
6month-1 year
20
1-2 year
15
>2year
10
Among the 60 customers surveyed a majority of them were holding the bank with the bank for more than 6months but less than 1yr (6 months-1yr interval) followed by those using the bank for more than 1year but less than 2 year.
36
Fig.5.1.4 Period of Association
5.2 Awareness level of different services among the customer surveyed, offered by the bank and the satisfaction level of the service when availed:
(1)
As shown in the Fig 5.2.1 In of no. Of people aware of personalized services offered by the bank is maximum in the 20-30yrs age group customers followed by 3040yrs age group. In of percentage of people aware, within an age group it is maximum in 20-30yrs age group i.e. 90%
37
Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
4
5
80%
20-30
9
10
90%
30-40
12
20
60%
40-50
8
12
66.67%
50-60
4
8
50%
60+
3
5
60%
Table 4.2.1 Awareness of Personalized service
38
Fig 5.2.1 Awareness of personalized service among different age-intervals
39
(2)
Free phone banking facility: As shown in Table 5.2.2 In of no. Of people with in an age group maximum awareness is in the age group of 20-30yrs followed by 30-40 yrs. In of percentage of people within an age group it is maximum in 18-20 yrs age group i.e. 100% and minimum of 61% in the age group of 50-60yrs.
Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
5
5
100%
20-30
9
10
90%
30-40
14
20
70%
40-50
8
12
66.67%
50-60
5
8
62.5%
60+
3
5
60%
Table 5.2.2 Awareness of free Phone banking facility
40
41
42
Fig 5.2.2 Awareness of free Phone banking facility
(3)
Free doorstep new opening: It was found that awareness of free doorstep
new a/c opening in of percentage of people within an age group is in 60+ yrs age group of 100% followed by 40% in 18-20 yrs age group and minimum in the age group of 20-30 yrs.
Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
2
5
40%
20-30
4
10
40%
30-40
12
20
60%
40-50
9
12
75%
50-60
7
8
87.5%
60+
5
5
100%
Table 5.2.3 Awareness of free doorstep new opening
43
Fig 5.2.3 Awareness of Free doorstep new opening 44
5.Awareness of safe deposit lockers: It was found that awareness of safe deposit lockers offered by the bank is maximum in the age group of 18-20 yrs i.e. 80% closely followed by 77% in the age group of 60+yrs. As shown in the Table 5.2.4. In of no. Of people aware of safe deposit lockers services offered by the bank is maximum in the 20-30yrs age group customers closely followed by 30-40yrs age group customers as depicted in Fig 5.2.4.
Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
4
5
80%
20-30
9
10
90%
30-40
14
20
70%
40-50
8
12
66.67%
50-60
4
8
50%
60+
4
5
80%
Table 5.2.4 Awareness of safe deposit lockers
45
Figure 5.2.4 Awareness of safe deposit lockers
46
(4)
Awareness of ATM service: It was found that awareness of ATM service offered by the bank is most widely known and availed service irrespect of the age group. As shown in the Table 5.2.5.
Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
5
5
100%
20-30
10
10
100%
30-40
20
20
100%
40-50
12
12
100%
50-60
8
8
100%
60+
5
5
100%
Table 5.2.5 Awareness of ATM service
47
Figure 5.2.5 Awareness of ATM service
48
(6) Awareness of Charged national and International Debit card: As usual customers in the age group of 18-20 are well informed of the services. As shown in the Table 5.2.6. In of no. Of people aware of debit card services offered by the bank is maximum in the 20-30yrs age group customers closely followed by 30-40yrs age group customers as depicted in Fig 5.2.6. Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
5
5
100%
20-30
7
10
70%
30-40
12
20
60%
40-50
6
12
50%
50-60
3
8
37.5%
60+
2
5
40%
Table 5.2.6 Awareness of Charged National & International Debit card
49
fig 5.2.6 Awareness of Charged National & International Debit card
(7) Awareness of Free online real time Internet banking: Free online real time Internet banking service offered by the bank is an alternate banking channel. In of percentage awareness within an age group is maximum in18-20yrs i.e. 100%. As usual customers in the age group of 18-20 are well informed of the services offered by the bank. As shown in the Table 5.2.7. In of no. Of people aware of Internet banking service offered by the bank is maximum in the 30-40yrs age group customers closely followed by 20-30yrs age group customers as depicted in 5.2.7 Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
5
5
100%
20-30
8
10
80%
30-40
16
20
80%
40-50
9
12
75%
50-60
4
8
50%
60+
2
5
40% 50
Table 5.2.7 Awareness of Free online real time Internet banking
Figure 5.2.7 Awareness of Free online real time Internet banking (8) Awareness of Any where banking facility: Any where banking facility enables person to do intra and inter city banking and it is also the additional service which is not offered by all the banks. It was found that anywhere banking facility offered by the bank in of percentage awareness within an age group is maximum in 18-20yrs i.e. 100%. As usual customers in the age group of 18-20 are well informed of the services offered by the bank. As shown in the Table 5.2.8. Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
5
5
100%
20-30
10
10
100%
30-40
18
20
90%
40-50
10
12
83.33%
50-60
6
8
75% 51
60+
3
5
60%
Table 4.2.8 Awareness of anywhere banking
Figure 5.2.8 Awareness of anywhere banking (9) Awareness of Investment advisory services: Investment advisory services offered by the bank enables the customer to buy mutual funds, GOI relief funds, RBI bonds etc. under the guided advise of professional and it is also the additional service which is not offered by all the banks. It was found that Investment advisory services offered by the bank in of percentage awareness within an age group is maximum in 60+ yrs age group and is 80%. This time senior citizen are more aware of this service as compared to customers of 18-20 age group, followed by customers in the age group of 40-50 yrs as people now start investing early. As shown in the Table 5.2.9.
Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
1
5
50%
20-30
4
10
40% 52
30-40
8
20
40%
40-50
5
12
41.67%
50-60
6
8
75%
60+
4
5
80%
Table 5.2.9 Awareness of Investment advisory services
Figure 5.2.9 Awareness of Investment advisory services
Services Awareness Availed Chart
53
Figure 5.2.10 Service awareness -availed chart It was found that awareness of ATM services offered by the bank is maximum, followed by anywhere banking and least in case of investment advisory. It was also found that among the customers surveyed ATM service is the most availed service followed by Anywhere banking facility and least availed service was Investment advisory services as depicted in Fig 5.2.10.
54
Fig 5.2.11 Average Satisfaction rating on different services It was found that, on ATM service and Anywhere banking facility, the average satisfaction is maximum at 3.18 out of a scale of 4, followed by Investment advisory services and least average satisfaction was In the case of safe deposit lockers facility that was also too high of 2.75.
5.3
Satisfaction level on drivers of satisfaction 55
Customers surveyed were asked to circle the number that best represents their feelings on Performance attributes (Drivers of Satisfaction) – In column 3A on Degree of Importance on 1-4 scale (4-)“extremely important”, 3-“important”, 2-“slightly important”, 1-“not important” and In column 3B on degree of Performance on 1-4 scale (4-“excellent”, 3-“good”, 2-“fair”, 1-“poor”. An average rating was calculated of the response of different customers surveyed on different drivers of satisfaction factors as shown in Table 4.3.1 which is later on depicted on the Performance –importance matrix as shown in the fig 4.3.1 Factors
Average Importance Average rating
Performance rating
1. Staff Competence
3.54
3.19
2. Prompt Service
3.81
3.21
3. Employees Courteous &
3.43
3.17
3.40
3.11
5. Convenience of Location
3.49
3.14
6. Operating hours
3.31
2.96
7. Competitive fees & Charges
3.43
2.85
8. Competitive interest
3.42
2.93
9. Low balance requirement
3.57
2.6
10.Query & complaint resolution
3.41
3.1
11.ATMs seldom out of cash
3.44
2.97
12.Ambience & Infrastructure
3.17
3.20
friendly 4. Convenience of opening Formalities
rates( FDs)
56
It was found that customers surveyed rated Prompt service the maximum on the importance scale followed by Low balance requirement. Factors like staff competence and convenience of location are also of significance. Ambience and Infrastructure as a factor was rated minimum on the importance scale. What we really need to know though is to what extent bank can improve these areas. Where bank can gain the greatest cost/benefit payoff? In the last column of the table the closer the score is to 4 the better the bank performed in that area, according to its customers Prompt service scored highest. This is important as it is the factor that drives customer satisfaction the most. Ambience and Infrastructure and staff competence were also rated well. However the Table 5.3.1 shows Operating hours, Competitive fees & charges, Competitive interest rates, Low balance requirement (Minimum balance) and ATMs seldom out of cash are all areas that present opportunities for banks Customers rate them as important yet they perform badly in of customers evaluate. Those factors, which lie in the quadrant A are those areas where the bank has performed badly. Low balance requirement (minimum balance) is the area that requires the greatest focus followed by Competitive fees and charges, Competitive interest rates (FDs), Operating hours and ATMs seldom out of cash, bank simply needs to concentrate in those areas. Those factors, which lie in the quadrant B are those where the performance of the bank is good and the bank should try to keep up that good work on the factors-Prompt service, staff competence, Convenience of location, convenience of opening formalities etc. It was also found that no driver of satisfaction factor lie in the quadrant C and D.
57
5.4 How do you rank your product (savings and current ) on
feature, services, reliability, value for money and technology. Avg. Savings Avg. holders holder Features
3.12
3.2
Services
3.07
3.08
Reliability
3.07
3.11 58
Value for money
2.91
3
Technology
3.06
3.08
Table 5.4.1 Average rating on product by savings & a/c holder It was found that average rating by different savings and current customers on all product factors i.e. on feature, services, reliability, value for money and technology. The current customers are more satisfied with the overall product compared to the savings bank holder this is depicted in the Fig 5.4.1
average satisfaction on product 4 3.5 technology
reliability
services
2.5
features
3
value for money
rating scale
savings a/c holder current a/c holder
Fig 5.4.1 Average rating on product by savings & current a/c holder
Period of
Features
Services
Reliabili-ty Value for Technolmoney ogy
3
3.22
Asso . Rating on 0-6 months 3.11
59
3.11
3
6mon-1 yr
3.18
3.14
3.01
3
3.05
1 yr- 2 yr
3.12
3.06
3.06
2.85
3.12
2 yr+
3.10
3.04
3.17
2.95
3
Table 5.4.2 Average rating on product factors vs period of association
It was found that there is no substantial change in the average rating on the different product factors by the customers having different period of association with the bank. This shows that the bank doesn’t makes any difference in providing the services among its customers as shown in Table 5.4.2 It was also found that average satisfaction is maximum on product feature i.e. 3.13 followed services and reliability of the product both at 3.08 and value for money minimum at 2.93. On all the product factors the company has performed good except value for money where the product is rated above average as shown in Fig 5.1
average satisfaction on different product factors
technology
value for money
reliability
services
features
4 3.5 3.13 3.08 3.08 2.93 3.07 satisfaction scale 3 2.5 2
factors
Fig 5.4.2 Average satisfaction on different product factors
5.5
Overall level of satisfaction with the product 60
mean satisfaction rating
percentage of respondents
Fig 5.5.1(a) Average overall Satisfaction rating average overall satisfaction rating 100% 80% 60% 40% 20% 0%
79% 15%
0%
7%
very dissatisfied
neither
satisfied
very satisfied
level of satisfaction
Series1
Among the 60 customers surveyed 15% of customers were very satisfied with the services of the bank, 79% of customers were satisfied with the bank and a very small number i.e.7% of the customers were neither satisfied nor dissatisfied with the services. Which shows a very
avg. satisfaction scale
high level of satisfaction among the customers.
average satisfaction vs period of association 4 3.5
3.11
3.05
3.08
3.06
<6mon
6mon-1yr
1-2yr
2+yr
3 2.5 period of association
avg satisfaction
Fig 5.5.1(b) Average satisfaction vs Period of association It was found that no significant change is being found in the overall satisfaction among the customers with different period of association. Which brings out that bank does not make any difference in providing the services among its customers. (2)
Are you happy with our services and looking for a long-term relationship.
Among the 60 customers surveyed a substantial number i.e. 20 customers responded they are likely (agree) to maintain a long term relationship with the bank, 35 respondents responded 61
that they are very likely (strongly agree) to maintain a long term relationship and only 5 respondents stated they are neither (so-so) to maintain a long term relationship as shown in Fig 5.5.2
Fig 5.5.2 Likely relationship. (3)
Would you recommend this product to others?
It was found that 29 respondents were likely (agree) to recommend, 21 respondents were very likely (strongly agree), 7 customers were neither likely nor unlikely (so-so) to recommend to others and only 3 respondents were very unlikely (strongly disagree) to recommend this product to others. As shown in fig5.5.3
62
Fig 5.5.3 Likely to recommend This represents a high level of satisfaction among the bank customers as the products are being recommended to another people who will be the future customers of the bank. This represents customers are highly satisfied with the bank products.
5.6 S.W.O.T ANALYSIS SWOT ANALAYSIS OF AXIS BANK STRENGTH Right strategy for the right products. Superior customer service vs. competitors. Great Brand Image Products have required accreditations. High degree of customer satisfaction. Good place to work Prompt response time with efficient and effective service. Dedicated workforce aiming at making a long-term career in the field. WEAKNESSES Some gaps in range for certain sectors. 63
Customer service staff need training. Processes and systems, etc Management cover insufficient. Sectoral growth is constrained by low unemployment levels and competition for staff . OPPORTUNITIES Profit margins will be good. Could extend to overseas broadly. New specialist applications. Could seek better customer deals. Fast-track career development opportunities on an industry-wide basis.
THREATS Legislation could impact. Great risk involved Very high competition prevailing in the industry. Vulnerable to reactive attack by major competitors Lack of infrastructure in rural areas could constrain investment. High volume/low cost market is intensely competitive
KEY POINT SWOT Analysis is a simple but powerful framework for analyzing company's Strengths and W e a k n e s s e s , a n d t h e O p p o r t u n i t i e s a n d T h r e a t s f a c e . T h i s 64
h e l p s u s t o f o c u s o n y o u r strengths, minimize threats, and take the greatest possible advantage of opportunities available.
CHAPTER –6
65
FINDINGS AND RECOMMENDATIONS
6.1 Major findings: It was found that awareness of ATM services offered by the bank is maximum, followed by debit card and least in case of investment advisory. It was also found that among the customers surveyed ATM service is the most availed service followed by Any where banking facility and least availed service was Investment advisory services. The nons cited Unawareness regarding the bank’s services to be the major reasons behind not availing of the bank’s services On ATM service and Any where banking facility, the average satisfaction is maximum at 3.18 out of a scale of 4, followed by Investment advisory services and least average satisfaction was in the case of safe deposit lockers facility that was also too high. 66
Prompt service, staff competence, Convenience of location, convenience of opening formalities etc. On all these factors bank is doing well and the bank should try to keep up that good work. Average satisfaction is maximum on product feature i.e. 3.13 followed services and reliability of the product both at 3.08 and value for money minimum at 2.93. On all the product factors the company has performed good except value for money where the product is rated above average. Among the 60 customers surveyed 15% of customers were very satisfied with the services of the bank, 79% of customers were satisfied with the bank and a very small number i.e.7% of the customers were neither satisfied nor dissatisfied with the services. which shows a very high level of satisfaction among the customers. Among the 60 customers surveyed a substantial number i.e. 20 customers responded they are likely (agree) to maintain a long term relationship with the bank, 35 respondents responded that they are very likely (strongly agree) to maintain a long term relationship and 5 respondents stated they are neither (so-so) to maintain a long term relationship. It was found that 29 respondents were likely (agree) to recommend, 21 respondents were very likely (strongly agree),7 customers were neither likely nor unlikely (so-so) to recommend to others and only 3 respondents were very unlikely (strongly disagree) to recommend this product to others.
Suggestions on Add-on services as proposed by respondents Small amount DD can be made through cash. F.D. extension or renewal through phone banking. 67
Proximity should be increased through more branches or extension counters. Internet banking only enlists the last 10 transactions made, it should be increased. Frequent mailers should be sent on new product and services introduced from time to time. Free monthly statement of in place of quarterly. ATMs daily withdrawal limit must be increased which is presently Rs 15,000. Cash teller must have adequate currency notes of Rs500 and Rs1, 000. Number of customer’s do complained of the less operating days or the no. Of days it is open. The bank can remain open on Sundays also to overcome that. Provision of taking out the bank statement of the specified period from the ATM
itself.
6.2Recommendations: The non-s cited unawareness regarding the banks product and services to be the major reason behind not availing the bank’s services. So bank should launch awareness campaign for making customers aware of the different services like personalized service, Lockers, Phone banking and Investment advisory services and products like bank at campus. Majority of respondents do complained of the working of ATMs, ATMs out cash and disconnection of network were the major fault areas, even though they were satisfied with the bank’s a wide network of ATMs. 68
There were number of respondents especially Senior citizens who have ATM card but does not make use of it because number of people does not know how to use it. So bank can organize an awareness week where ATMs usage can be taught. Number of customer’s do complained of the less operating days or the number of days it is open. The bank can remain open on Sundays also to overcome that. Banks average quarterly low balance requirement of Rs 10,000 is both pros and a con for the bank. It is quite reasonable in comparison with the foreign banks but high when compared to other nationalized banks .
6.3Limitations: The present research was restricted to only savings and current holders of the bank. The survey was restricted to Karol Bagh branch because of time and resources constraints. Therefore the generality of the findings cannot be claimed until further research has been carried out. The sample size is 80, which may not reflect a true picture of the consumer’s mind.
69
The respondents are chosen through simple random sampling and only the persons who have knowledge of English language were surveyed. It is also pretty hard to pursue a customer to share his feelings as they are in a hurry so possibility of biases of the respondents may not be precluded.
The following sources have been sought for the preparation of this report.
Books
70
The Total Money Makeover: A Proven Plan for Financial Fitness, Dave Ramsey, DATED 18/07/2013 Pg No- 44 The Millionaire Next Door, Thomas Stanley and William Danko, DATED 30/10/2013, Pg No-88
Magazine Money life, DATED 18/10/2013, Pg No -51 Business world, DATED 07/09/2013, Pg No -172
Newspaper Economic times, DATED 11/06/2013, Pg No -56 Hindustan times, DATED 07/08/2013, Pg No -90 Websites •www.axisbank.com •http://www.iloveindia.com/finance/bank/private-banks/axis-bank.html •http://economictimes.indiatimes.com/axis-bankltd/infocompanyhistory/companyid9195.cms •http://findarticles.com/p/articles/mi_qa5321/is_200407/ai_n21351846/pg_5 •http://humanresources.about.com/od/glossarye/a/employee_inv.html •http://www.nrdc.org/buildinggreen/bizcase/own_productivity.asp •http://www.nhpcindia.com/English/Scripts/Aboutus_Objectives.aspx •http://wiki.answers.com/Q/Why_to_study_about_employee_satisfaction •http://wiki.answers.com/Q/What_is_the_importance_of_employee_satisfaction_in _an_orga nisation
Thank you for agreeing to participate in this survey. I am a student of a MAIMS conducting a market research to know the usage pattern of Credit card 71
of AXIS BANK and its services. Take a few moments of your time and answer a few questions. Your answers will be confidential and used only in combination with the responses of other people. Person Interviewed: ____________________________________________ Address: ________________________________________________________ Age: _________ Gender: Male Female Occupation: _______________________
1. Awareness about Personalized Banking Facility? Yes □ No □ 2. Awareness about Phone Banking Facility? Yes □ No □ 3. Awareness about Free Door Step New Opening Facility? Yes □ No □ 4.
Awareness about Safe Deposit Lockers? Yes □ No □
5. Awareness of ATM Service? Yes□ 72
No □ 6. Awareness about Charged National And International Debit Card Service? Yes □ No □ 7. Awareness of Free Online Real Time Internet Banking Service? Yes □ No □ 8. Awareness about Any Where Banking Facility? Yes □ No □ 9.
Awareness about Investment Advisory Service?
Yes □ No □ 10. Score following services for Saving (0-5)? Features Services Reliability Value For Money
11. Score following services for (0-5)? Features Services Reliability Value For Money
73
MAHARAJA AGRASEN INSTITUTE OF MANAGEMENT STUDIES d to Guru Gobind Singh Indraprastha University, Delhi PSP Area, Plot No.1, Sector-22, Rohini, and Delhi 110085
STUDENT UNDERTAKING This is to certify that I have completed the Project titled “A STUDY OF CUSTOMER SATISFACTION OF THE PRODUCTS AND SERVICES OFFERED BY AXIS BANK” in under the guidance of “ MR Vinay Aggarwal ” Faculty, MAIMS in partial fulfillment of the requirement for the award of internship certificate of axis bank for Bachelors Of Business istration at Maharaja Agrasen Institute of Management Studies, Delhi. This is an original piece of work & I have not submitted it earlier elsewhere.
Sumit Jain
3
CERTIFICATE This is to certify that the project titled “A STUDY CUSTOMER SATISFACTION OF THE PRODUCTS AND SERVICES OFFERED BY AXIS BANK” is an academic work done by “sumit Jain” submitted in the partial fulfillment of the requirement for the award of Internship certificate of axis bank from Maharaja Agrasen Institute of Management Studies, Delhi, under my guidance & direction. To the best of my knowledge and belief the data & information presented by him/her in the project has not been submitted earlier.
MR. GAURAV AGGARWAL FACULTY, MAIMS
4
ACKNOWLEDGEMENT I have great pleasure in presenting my project on “A STUDY ON CUSTOMER SATISFACTION OF THE PRODUCTS AND SERVICES OFFERED BY AXIS BANK”. I take this an opportunity to express my deepest gratitude and ineptness to all those who contributed indirectly their valuable time and assisted them in my project. I would like to thank my guide Mr. Sumit AGGARWAL for his valuable guidance and in completing my project. Last but not the least i would like to express my sincere thanks to those who directly and indirectly helped me in this project.
5
A PROJECT REPORT ON
“A STUDY ON CUSTOMER SATISFACTION OF THE PRODUCTS AND SERVICES OFFERED BY AXIS BANK”
6
TABLE OF CONTENTS
S.no
Particulars
Page No.
Acknowledgment Student Declaration Certificate From Guide Certificate From Company Executive Summary
i ii iii iv v
Chapter-1 - Introduction 1.1 Overview about Industry 1.2 Objective of the Study
3 5
Chapter-2 - Company Profile 2.1 Profile of the Company 2.2 Various Products offered by the Company
6 11
Chapter-3 - Research Methodology 3.1 General Methodology 3.2 Data Sources 3.3 Research Design 3.4 Sampling Design 3.5 Limitation Chapter-4 - Customer Satisfaction
20 20 21 22 23
4.1 Defination 4.2 Customer Satisfaction and Loyality 4.3 Measures Of Customer Satisfaction
25 26 27
Chapter-5 - Data Analysis
32
Chapter-6 - Findings and Recommendations
57
Bibliography
vi
Annexure – Questionnaire
vii
1
CHAPTER – 1 INTRODUCTION
INTRODUCTION 2
1.1 OVERVIEW OF THE INDUSTRY The bank in the framework of value creation and value network Concepts, can be viewed as a firm operating through different layers: (1) Access or distribution layer - the study of bank customer behavior can provide useful insights into customer utilization of different access media (offices and branches, ATM, Internet etc); (2) Payment mediation layer - money can be transferred between different owners and/or places through various transfer mechanisms (cash, ATM, payment and credit cards etc); (3) Capital mediation layer - pooling of funds and their redistribution according to customers' needs; (4) Risk mediation layer - the banks pool customers with different risk characteristics and manage overall network risks, primarily systematic risk. It is important that both the bank and the customers can benefit from the development of relationships in the value creation process. Banking (and individual banks as firms) will probably face essential structural changes in the nearest future. Lewellyn pointed out three main reasons why the changes in the financial sector are likely to be so substantial •
A powerful combination of various pressures operating on the industry (competitive pressures, globalization, consumer changing trends, competition coming from the capital market etc.)
3
•
Some of the pressures (especially new technology) challenge the core of financial business;
•
Competition is not only intensifying but (as entry barriers are declining) coming from new types of competitors. It seems that the pressures are more evident in wholesale banking (competition from markets has been more powerful), but they are developing also in retail banking and the differences are eroding.
It becomes increasingly important to identify and enumerate changing customer needs. The customers' satisfaction should be the central element of the bank mission and one of the priority objectives of long-term customer-oriented strategy. Especially important is to study customers' satisfaction and bank services quality in emerging market economies where banks are behaving as growth-oriented firms in the tight struggle for obtaining a bigger market share. Understanding of client's desire, needs and demands is an important input to the elaboration of an efficient marketing strategy both in banks and other firms.
4
1.2 OBJECTIVE OF THE STUDY The project is titled “Customer Satisfaction of the products and services offered by Axis Bank” - A tool for measuring satisfaction level among current customers and the services that are to be included. The purpose is to: •
To measure the customer satisfaction regarding the various products and services offered by Axis.
•
To determine services, which the customers feel, must be there.
•
To determine the most popular and widely used services by the Savings bank and holders.
•
To locate the lacking area and suggest some improvements in the existing services for mutual benefits of the bank and its customers.
The level of customer satisfaction with services is an important factor in developing a system of service provision which is responsive to clients’ needs while minimizing costs and time requirements and maximizing the impact of the services on target populations.
5
CHAPTER –2 COMPANY PROFILE
6
2.1 COMPANY PROFILE Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses. The Bank has a large footprint of 1947 domestic branches (including extension counters) and 11,245 ATMs spread across the country as on 31st March 2013. The Bank also has overseas offices in Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi. Axis Bank is one of the first new generation private sector banks to have begun operations in 1994. The Bank was promoted in 1993, tly by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of India),Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The shareholding of Unit Trust of India was subsequently transferred to SUUTI, an entity established in 2003. With a balance sheet size of Rs.3,40,561 crores as on 31st March 2013, Axis Bank has achieved consistent growth and stable asset quality with a 5 year CAGR (2009-13) of 26% in Total Assets, 24% in Total Deposits, 27% in Total Advances and 37% in Net Profit. Axis Bank Ltd. has been promoted by the largest Financial Institutions of the country, UTI, LIC, GIC and its subsidiaries. The Bank was set up in 1993 with a capital of Rs. 115 crore, with UTI contributing Rs. 100 crore, LIC - Rs. 7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5 crore each. RATINGS:
7
‘ICRA AA’ for Lower Tier II subordinate debt program and ‘ICRA AA-‘ for Upper Tier II bond program by ICRA. ‘CRISIL A1+’ for certificate of deposit program by CRISIL. ‘CARE AA’ for Lower Tier II subordinate debt program by CARE. ‘Fitch AA-‘ for Long Term Debt Instruments and ‘Fitch A1+’ for Short Term Debt Instruments by Fitch Ratings. BRANDS: Axis Bank has been aggressive in its brand building program since last year. As a part of the brand building exercise, the bank has taken many initiatives which have helped the brand connect up with the customers & enhance the visibility quotient. Axis Bank had launched its first ever mass media campaign in July 2007 along with its punchline “Everything is except the Name same” and since then, the bank has been consistent in communication through Television, Radio, and Outdoor & print advertising. Axis Bank understands its customers’ money is not just money. It is the vehicle to realise their dreams! Hence, the bank aims to ensure that the customers’ experience with the bank is pleasant and enriching. That they get value for their money, enabling them to lead a richer, fuller, content life... For this, the bank: •
Offers a new level of banking – better services, better understanding of unique needs and better management of finances.
•
Demystifies the banking process and makes it more accessible.
•
Apart from fulfilling traditional banking responsibilities, advises customers on how and where to use their money to get the best out of it.
•
Projects an image of being a young, energetic, modern bank with values of dynamism, confidence and progression.
Further, as a banking partner, the bank also aims to help its customers discover how they can do more things with their money.
8
In the recent advertising campaign, the Bank reinforces its focus on Innovative banking based on the philosophy of Responsive Innovation. The bank is taking ‘responsiveness’ theme to customers and reinforces its commitment to give best-of-class services in the industry.
MISSION Customer service and Product innovation tuned to diverse needs of individuals and corporate clientele.Progressive globalization and achieving International standards.Efficiency and Effectiveness build on ethical practices.
VISION To be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and smart use of technology.
Core Values •
Customer Centricity
•
Ethics
•
Transparency
•
Teamwork
•
Ownership
9
STRATEGY 1.
Identify and projects and programs that are within its focus areas and, Have a large-scale and measurable impact; Are replicable in a cost effective manner; and Are time- bound.
2.
Identify and pilot projects within its focus areas.
3.
Contribute towards improving the efficacy of assisted organizations
through;
Capacity building; Providing access to research and information; and providing platforms for an effective exchange of ideas, thoughts and experiences.
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2.2 Various products offered by the company Savings s Axis Bank presents a Savings Bank which offers a host of features and benefits for you and your family.
Zero Balance Youth Zero Balance Saving with Debit Card Facility for your child
Debit Card Axis Bank presents a suite of to utility Debit Cards , that come loaded with features to make banking effortless for you. Choose from any of the following: Priority Platinum VISA Debit Card Titanium Rewards VISA Debit Card Ladies First VISA Debit Card Use your card to earn reward points even on your daily transactions. Go shopping, pay utility bills, invest through SIPs or even withdraw cash and choose to get rewarded or auto cash back into your through Axis Money. •
Easy Access to
11
•
Access Axis Bank ATMs across India for cash withdrawals, cash/ cheque deposits, VISA Credit Card bill payment, balance enquiry, mobile top-up and other miscellaneous requests, all for free
•
Access cash for withdrawal at over 80,000 ATMs in India, through our network partners – VISA & NFS
•
Access your funds at over 1 million VISA ATMs worldwide and 26 million VISA merchant outlets
•
5 Free Domestic Other Bank ATM transactions in a month (Cash withdrawal, Balance Enquiry, PIN change OR Mini Statement), Unlimited if previous month’s Average Monthly Balance is equal to or more than Rs. 10,000/-
•
Safe & Secure online shopping- for Verified by Visa (VbV) and use your card for online shopping & e-Payments
•
Limits on card flexible
•
Mobile Top -up at ATMs
Banking at your convenience •
Access & transact on your from any of our branches across India completely FREE, be it for deposits, withdrawals or any other transactions
•
Doorstep Banking at select locations – Free Cheque Pickup and Demand Draft Delivery
•
Free Demand Drafts (upto Rs.25,000/- per day) at all our branches
•
Toll Free centre access to our Service Staff
Internet Banking •
Free Internet banking service
•
Free Bill Payment and Online Railway Ticket booking facility 12
•
Free Funds transfer through NEFT and RTGS
Multicity Cheque Book •
Free personalised Multi-city Cheque Book
Standing Instructions •
Free standing instructions, Sweep-In facility
Statements & Nomination •
Free Quarterly Statements / Monthly e-Statements / Book facility
•
Nomination facility available
No Need to Carry Cash Anymore •
Online Bill Payment, Railway Ticket Booking, e-Shopping
•
Mobile Top-ups at ATMs
•
Credit Card Bill Payment (VISA Cards) over ATM and Internet
•
Cash-less shopping with VISA Debit Card
•
Free funds transfer - Use RTGS or NEFT to transfer funds anywhere in India completely FREE
Investments Axis Bank offers you personalised investment options to help achieve your financial objectives. Solutions are tailor-made to suit each individual's requirements. We offer a host of financial instruments that includes Fixed Deposits, Mutual Funds, Bonds and Insurance products.
Insurance 13
Axis Bank offers customized solutions that include Accident, Health, Liability, Marine, Motor, Property, Travel & Rural Insurance for individuals as well as corporate customers in association with Max Life Insurance Ltd. And TATA AIG General Insurance Ltd.. Axis Bank has tied up with Tata AIG General Insurance Company Limited (‘Tata AIG’) as a Corporate Agent for General Insurance to offer you a range of General Insurance products from Tata AIG backed by its award winning Customer and Claims Services.
The Axis Bank-Tata AIG synergy will offer products for a range of insurance needs such as Motor, Health, Travel, Home for retail customers and Marine, Liability, Property etc for corporate customers. This association will leverage the strengths of both companies; to bring to Axis Bank customers a comprehensive suite of insurance products designed to protect all aspects of their lives. Tata AIG is a t venture between the Tata Group and AIG Inc. Tata AIG combines the Tata Group's values and pre-eminent leadership position in India and AIG's global presence as the world's leading international insurance and financial services organization. NRI’s Axis Bank’s range of NRI products and services offer you unmatched benefits that take care of more than just your basic banking requirement. We believe in constantly innovating and providing best-in-class products and services that make banking quicker, easier and simpler. International Debit Card : You get an International Debit that enables you to access your at any Visa terminal overseas Pay Orders : You can issue pay order from your , absolutely free of charge. Free Payable-at-Par Chequebook : You get a payable-at-par chequebook for use in India Doorstep Banking : This unique facility provides you the convenience of transaction from the comfort of your home, during your visit to India. This facility is applicable for non-cash transactions only 14
Free SMS Alerts : This facility enables you to track your on a daily basis. This facility is currently available in 8 international geographies only. Free Internet Banking : The Internet Banking facility enables to you access your anytime, from anywhere. Free Utility Bills Payment : Using this facility, you can pay utility bills with select utility service providers in India. NEAT (NRI Enquiry Assistance Tracker) : A unique service that facilitates you to seek responses to your queries related to banking, taxation, legal & finance.
Axis Net Internet Banking Banking at the click of a mouse! Just for your banking needs!AxisNet - Internet Banking service from Axis Bank that offers you a wide range services - A service which is convenient to use and puts you in control of your finances anytime, anywhere.
Remittances Axis Bank offers a full range of money transfer services for all types of funds from anywhere in the world. As an NRI across the world, you are assured of fast, convenient and personalized services at Axis Bank. We offer you a host of online as well as telegraphic options to transfer money to India. Our tie-ups ensure quick and efficient transfer of your funds across the world. Modes of transferring money : Telegraphic Transfer/ Wire Transfer Fund Transfer Through Exchange Houses Fast Remit for NRIs in USA
15
Remittance through Money Transfer Services
Axis Forex Foreign exchange is a critical requirement for a person traveling abroad. Axis Bank brings to you Axis Forex that will help you organize your foreign exchange in the most hassle free manner. Avail Foreign Currency Bank Notes, Travelers Cheques or buy an Axis Forex Card for your travel abroad under leisure, business education etc and keep your Forex worries off your check list. Our Forex services include: •
Axis Forex Card available in USD, GBP, EURO, SGD & others
•
Competitive rates for buying & selling of bank notes in all major currencies
•
Foreign Drafts & Telegraphic Transfer available in USD, GBP, EURO, NZD, CAD, AUD, SGD etc
•
Facility of FX sales against RTGS/INR DD to non holders
Know more about bouquet of our services below.
Corporate & Investment Banking Axis Bank provides a wide array of commercial, transactional and electronic banking products to corporate clients in India, both large, and small and medium scale enterprises. We have innovative products designed with focused approach to suit requirements of various segments. We offer corporate banking services including working capital finance, term loans, trade and transactional services, foreign exchange and cash management services. The facilities are structured to meet specific needs of the client taking into a client's risk profile. With our strong customer oriented approach, we have built relationships with a number of Indian companies including multinationals, well known domestic business houses and public sector companies.
16
Corporate & Investment Banking Group (C&I) is an integral and important part of the CCB which focuses on offering a wide array of banking & financial services to large domestic corporate groups, local large corporates as well as local operations of multinationals.
Our product offerings include working capital finance, trade finance, channel financing, term loans, letter of credit, bank guarantees to name a few. These products offerings are suitably tailor made based on the client requirements and its credit profile. Based on the in-depth industry knowledge, we endeavor to add value to your business through superior product delivery and service levels benchmarked to industry’s best practices.
Commercial Banking Recent years have seen rapid growth in the Small and Medium Enterprises (SME) sector, and an enhanced appreciation of this sector's critical role in driving economic growth. Commercial Banking Group at Axis currently caters to small and mid size corporates and groups spanning SMEs, Mid-markets and Emerging Corporates, which in essence form the ‘sweet spot’ of the Indian economy.
We have developed a strategic focus on the SME sector characterized by relationshiplending approach, deep understanding of your growing business requirements and products and services that help you manage your cashflows in a better way. Fund Based Services (FB) Working Capital Finance Short Term Finance Bill Discounting 17
Export Credit Term Lending Buyer’s Credit / Supplier’s Credit Asset based financing Non Funded Based Service Letter of Credit Bank Guarantees Collection of Documents Value-added Services Channel Financing Associate Financing Cash Management Services Corporate Salary s Liability/ Investment Products
18
CHAPTER –3 RESEARCH METHODOLGY
19
3.1 General Methodology The methodology adopted for preparing this report was based on both primary as well as secondary information. The locale of the study was restricted to Karol Bagh , New Delhi. The first stage included gathering information about the bank’s profile, various products and services being offered by the bank and getting acquainted with the working of the bank. The second stage involved determining the objective of the study and drafting a questionnaire. The questionnaire was designed keeping in mind the objectives of the study. It is disguised in nature included a mix of open-ended and close-ended questions. In the third stage, visits were made to branch of Indusind bank for collection of data. 60 respondents were surveyed.
3.2 Data Sources The research can call for gathering primary data, secondary data or both. The data has mainly been collected via primary sources.
20
However a good amount of secondary data was also used to have a general understanding of the subject.
Primary Sources The primary data is gathered for specific purpose and is collected by the researcher himself. It includes direct communication and from customers, sales & marketing executives of Axis bank and any other related person. For the purpose of collecting information from customers structured questionnaires was formulated and are ed directly.
Secondary Sources The secondary sources are data was collected for another purpose and already exists some where. The secondary source of information here includes library resources at Axis bank, articles in various newspapers and magazines, product catalogs and online resources like company website, online reports and articles.
3.3 Research Design The research conducted was descriptive in nature and the goal was to gather preliminary data to shed light on the real nature of problems and to suggest possible solutions. For the purpose of this project, we went for a questionnaire-based survey of customers Research Instrument For the purpose of this project, a questionnaire was designed to collect data, which includes mix of open-ended and close-ended questions. A survey technique is being used to collect the data. During the project a survey of bank customers using personal interview was done at
21
random at different Axis bank branch in Karol Bagh, Delhi and a predetermined structured questionnaire was istered to them. Only those individuals which had knowledge of English language and about the Bank were surveyed.
3.4 Sampling Design Sampling Unit The study was restricted to Delhi region only. Keeping in mind convenience to sample because of accessibility, lack of abundance of time and cost and because of the fact that the population of this city is composed of people of diverse background, income level, lifestyles etc. The samples were chosen on the basis of simple random sampling. The sampling unit comprised of the people holding Savings , Current holders present in the Karol Bagh branch of the Axis Bank. Sampling size The sample size taken for the purpose of study was 80 customers of the Axis bank at the Karol Bagh branch in Delhi. Sampling Procedure
22
Research was restricted to single branch of Axis bank and prescribed number i.e. 80 customers are to be surveyed .The surveyed respondents belonged to the age of 18 years & above and having a fair knowledge of English language. Method Customers are to be directly ed after intercepting them within the branch premises. The samples were chosen on the basis of simple random sampling.
3.5 Limitations: The survey was restricted to only one branch because of time and resources constraints. Therefore the generality of the findings cannot be claimed until further research has been carried out. The locale of the study was selected keeping the convenience factor in mind which in present research is Delhi in Karol Bagh Branch. The sample size is 80, in which 20 did not responded which may not reflect a true picture of the consumer’s mind. The situation in which person is questioned about routine actions is an artificial one at best. Due to the influence of questioning process, respondents may furnish quite different information from facts.
23
The respondents are chosen through simple random sampling and only the persons who have knowledge of English language are surveyed. It is also pretty hard to pursue a customer to share his feelings as they are in a hurry so possibility of biases of the respondents may not be precluded.
CHAPTER –4 CUSTOMER SATISFACTION 24
4.1 Definition of Customer Satisfaction Customer Satisfaction can be defined as “An emotional response to the experiences provided by associated with particular products or services purchased, retail outlets or even molar patterns of behavior such as shopping and buyer behavior as well as over marketplace”[ Westbrook & Reilly] “An outcome of purchase and use resulting from the buyers comparison of the rewards and the costs of the purchase in relation to the anticipated consequences.”[Churchill & Superman] The customer’s response to the evaluation of the perceived discrepancy between prior expectations and the actual performance of the product as perceived after its consumption. “The result achieved when product features respond to customer needs.”by Juran on Quality By Design Cortada and Woods define customer satisfaction in two ways: The delivery of a product or service that meets or exceeds customer expectations or requirements.
25
4.2 CUSTOMERS SATISFACTION & LOYALTY The project is titled “Customer Satisfaction of the products and services offered by Axis Bank ” - A tool for measuring satisfaction level among current customers and the services that are to be included. The purpose is to: •
To measure the customer satisfaction level regarding the various products and services offered by Axis.
•
To determine services add-ons, which the customers feel, must be there.
•
To determine the most popular and widely used services by the Savings bank and holders.
•
To locate the lacking area and suggest some improvements in the existing services for mutual benefits of the bank and its customers.
The level of customer satisfaction with services is an important factor in developing a system of service provision which is responsive to clients’ needs while minimizing costs and time requirements and maximizing the impact of the services on target populations.
26
In order to develop a service delivery mechanism that addresses its customers’ needs, desires and expectations, it is necessary to know what customers are thinking about you and your service, To improve satisfaction and loyalty ratings and differentiate from the competition, banks need to understand what drives satisfaction and loyalty, and where there is greatest opportunity for improvement. There is little point in investing resources in areas that are already performing well, Colgate says or in areas not important to satisfaction and loyalty. Whether there’s room for improvement to satisfaction and loyalty, whether there’s room for improvement there or not. It becomes increasingly important to identify and enumerate changing customer needs. The customers' satisfaction should be the central element of the bank mission and one of the priority objectives of long-term customer-oriented strategy. Especially important is to study customers' satisfaction and bank services quality in emerging market economies where banks are behaving as growth-oriented firms in the tight struggle for obtaining a bigger market share. Understanding of client's desire, needs and demands is an important input to the elaboration of an efficient marketing strategy both in banks and other firms
4.3 Measure to improve performance for higher customer satisfaction: •
Turn your strongest areas into market differentiation.
•
Turn weaknesses into opportunities for improvement.
•
Develop internal communication tools to let everyone know how they are doing.
•
Demonstrate your commitment to quality and your customers.
27
•
and information form important elements in effective service delivery systems and should include:
There are a variety of ways to measure customer’s satisfaction, but in this study a simple method – Importance-Performance Matrix developed by Fort Sanders. (1) Level of importance of services provided, and (2) Service provider’s performance in giving services. Based on these factors, the customers themselves make an appraisal of the level of satisfaction they receive from specific goods and services and of their confidence in the capabilities of the service providers.
HIGH
CUSTOMER MEDIUM
SATISFACTION: The
percentage
LOW
CUSTOMER of
SATISFACTION:
SATISFACTION:
respondents who report an The
percentage
of
importance rating of greater respondents who report than 3 (4) and a performance an importance rating of rating of greater than 3 (4). average (3) and also a In this situation clients find performance rating of that
the
performance
CUSTOMER
of average (3).
service providers is good for services that they consider important to their production 28
The percentage of respondents who
report
an
importance
rating of average to very high (3 or 4) but a poor or very poor performance rating (2 or 1).
decisions.
INEFFICIENT SERVICES: Another key area of the client satisfaction matrix percentage of respondents who consider the services unimportant (importance rating 2 or 1) but the performance of the service provider in giving services is rated average to very good (performance rating 3 or 4). This category represents two possible scenarios: either a waste of banks resources (because unimportant services are being performed well) or programs for which there are very positive externalities that are not recognized by customers. This help’s the service provider in identifying the factors or areas where more resources are to be invested, and the priority in which the investment is to be made and the factors or areas where changes will have little impact on satisfaction and loyalty. It's a well-known fact that no business can exist without customers. Steps to increase satisfaction among Customers are:
1. Encourage Face-to-Face Dealings This is the most daunting and downright scary part of interacting with a customer. If you're not used to this sort of thing it can be a pretty nerve-wracking experience. Rest assured, though, it does get easier over time. It's important to meet your customers face to face at least once or even twice during the course of a project.
2. Respond to Messages Promptly & Keep Your Clients Informed
29
This goes without saying really. We all know how annoying it is to wait days for a response to an email or phone call. It might not always be practical to deal with all customers' queries within the space of a few hours, but at least email or call them back and let them know you've received there message and you'll them about it as soon as possible. Even if you're not able to solve a problem right away, let the customer know you're working on it.
3. Be Friendly and Approachable It's very important to be friendly, courteous and to make your clients feel like you're their friend and you're there to help them out. There will be times when you want to beat your clients over the head repeatedly with a blunt object. It's vital that you keep a clear head, respond to your clients' wishes, as best you can, and at all times remain polite and courteous. 4. Have a Clearly-Defined Customer Service Policy This may not be too important when just starting out, but a clearly defined customer service policy is going to save a lot of time and effort in the long run. If a customer has a problem, what should they do? If the first option doesn't work, then what? Should they different people for billing and technical enquiries? If they're not satisfied with any aspect of your customer service, whom should they tell? There's nothing more annoying for a client than being ed from person to person or not knowing who to turn to. Making sure they know exactly what to do at each stage of their
30
enquiry should be of utmost importance. So make sure your customer service policy is present on your site -- and anywhere else it may be useful. 5. Attention to Detail (also known as 'The Little Niceties' ) Have you ever received a Happy Birthday email or card from a company you were a client of? Have you ever had a personalized confirmation email for a service that you could tell was typed from scratch? These little niceties can be time consuming and aren't always cost effective, but to do them. Even if it's as small as sending a Happy Holidays email to all your customers, it's something. It shows you care; it shows there are real people on the other end of that screen or telephone; and most importantly, it makes the customer feel welcomed, wanted and valued. 6. Anticipate Your Client's Needs & Go Out Of Your Way to Help Them
Out Sometimes this is easier said than done! However, achieving this supreme level of understanding with your clients will do wonders for working relationship. 7. Honour Your Promises This is the most important point in this article. The simple message: when you promise something, deliver. The most common example here is work delivery dates. Clients don't like to be disappointed. Sometimes, something may not get done, or you might miss a deadline through no fault of your own. Projects can be late, technology can fail and sub-contractors don't always deliver on time. In this case a quick apology and assurance it'll be ready ASAP wouldn't go amiss. 31
CHAPTER –5
32
DATA ANALYSIS AND INTERPRETATION
5.1 DATA ANALYSIS AND INTERPRETATION The data, which was collected, was summarized and tabulated for further analysis. The analysis performed was mainly comparative analysis using statistical analytical tools. The tools that have been used are as follows: Questionnaire Bar Chart Pie Chart
5.1 Demographic and other information: Among the 60 customers surveyed: Ques: Demographic profile of the respondent??
33
(1)
Male
48
Female
12
As shown in Fig 5.1.1 Majority of customers surveyed were male customers who
constituted the major chunk of 80% as compared to female which are just 20%. This is because very few females turn up to the bank and the number of females interested to be surveyed was pretty less.
demographic profile 20% 80% male female
Fig 5.1.1 Demographic profile (gender) (3) Ques: Age Group? As shown in Fig 5.1.2 Majority of Customers surveyed was in the age group of 30-40 i.e. 20 followed by 12 customers in the age group of 40-50yrs and minimum in the age group of 1820yrs i.e. 5 The customers in the age group of 20-30 yrs are 10 and in 50-60yrs are 8 only and above 60 i.e. 5 only. Age Group
Male
Female
18-20
4
1
20-30
8
2
30-40
16
4
40-50
9
3
50-60
6
2
60 above
5
34
Fig 5.1.2 Demographic profile (age)
(4) Ques. Type of the you have with the bank. As shown in Fig 5.1.3 majority of customers surveyed were of savings holding savings with the bank i.e. 54 and only 10% customers surveyed were having .
Savings
54
6
35
Fig 5.1.3 Type of
(5) Ques. Period Of Association?? <6 months
15
6month-1 year
20
1-2 year
15
>2year
10
Among the 60 customers surveyed a majority of them were holding the bank with the bank for more than 6months but less than 1yr (6 months-1yr interval) followed by those using the bank for more than 1year but less than 2 year.
36
Fig.5.1.4 Period of Association
5.2 Awareness level of different services among the customer surveyed, offered by the bank and the satisfaction level of the service when availed:
(1)
As shown in the Fig 5.2.1 In of no. Of people aware of personalized services offered by the bank is maximum in the 20-30yrs age group customers followed by 3040yrs age group. In of percentage of people aware, within an age group it is maximum in 20-30yrs age group i.e. 90%
37
Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
4
5
80%
20-30
9
10
90%
30-40
12
20
60%
40-50
8
12
66.67%
50-60
4
8
50%
60+
3
5
60%
Table 4.2.1 Awareness of Personalized service
38
Fig 5.2.1 Awareness of personalized service among different age-intervals
39
(2)
Free phone banking facility: As shown in Table 5.2.2 In of no. Of people with in an age group maximum awareness is in the age group of 20-30yrs followed by 30-40 yrs. In of percentage of people within an age group it is maximum in 18-20 yrs age group i.e. 100% and minimum of 61% in the age group of 50-60yrs.
Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
5
5
100%
20-30
9
10
90%
30-40
14
20
70%
40-50
8
12
66.67%
50-60
5
8
62.5%
60+
3
5
60%
Table 5.2.2 Awareness of free Phone banking facility
40
41
42
Fig 5.2.2 Awareness of free Phone banking facility
(3)
Free doorstep new opening: It was found that awareness of free doorstep
new a/c opening in of percentage of people within an age group is in 60+ yrs age group of 100% followed by 40% in 18-20 yrs age group and minimum in the age group of 20-30 yrs.
Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
2
5
40%
20-30
4
10
40%
30-40
12
20
60%
40-50
9
12
75%
50-60
7
8
87.5%
60+
5
5
100%
Table 5.2.3 Awareness of free doorstep new opening
43
Fig 5.2.3 Awareness of Free doorstep new opening 44
5.Awareness of safe deposit lockers: It was found that awareness of safe deposit lockers offered by the bank is maximum in the age group of 18-20 yrs i.e. 80% closely followed by 77% in the age group of 60+yrs. As shown in the Table 5.2.4. In of no. Of people aware of safe deposit lockers services offered by the bank is maximum in the 20-30yrs age group customers closely followed by 30-40yrs age group customers as depicted in Fig 5.2.4.
Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
4
5
80%
20-30
9
10
90%
30-40
14
20
70%
40-50
8
12
66.67%
50-60
4
8
50%
60+
4
5
80%
Table 5.2.4 Awareness of safe deposit lockers
45
Figure 5.2.4 Awareness of safe deposit lockers
46
(4)
Awareness of ATM service: It was found that awareness of ATM service offered by the bank is most widely known and availed service irrespect of the age group. As shown in the Table 5.2.5.
Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
5
5
100%
20-30
10
10
100%
30-40
20
20
100%
40-50
12
12
100%
50-60
8
8
100%
60+
5
5
100%
Table 5.2.5 Awareness of ATM service
47
Figure 5.2.5 Awareness of ATM service
48
(6) Awareness of Charged national and International Debit card: As usual customers in the age group of 18-20 are well informed of the services. As shown in the Table 5.2.6. In of no. Of people aware of debit card services offered by the bank is maximum in the 20-30yrs age group customers closely followed by 30-40yrs age group customers as depicted in Fig 5.2.6. Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
5
5
100%
20-30
7
10
70%
30-40
12
20
60%
40-50
6
12
50%
50-60
3
8
37.5%
60+
2
5
40%
Table 5.2.6 Awareness of Charged National & International Debit card
49
fig 5.2.6 Awareness of Charged National & International Debit card
(7) Awareness of Free online real time Internet banking: Free online real time Internet banking service offered by the bank is an alternate banking channel. In of percentage awareness within an age group is maximum in18-20yrs i.e. 100%. As usual customers in the age group of 18-20 are well informed of the services offered by the bank. As shown in the Table 5.2.7. In of no. Of people aware of Internet banking service offered by the bank is maximum in the 30-40yrs age group customers closely followed by 20-30yrs age group customers as depicted in 5.2.7 Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
5
5
100%
20-30
8
10
80%
30-40
16
20
80%
40-50
9
12
75%
50-60
4
8
50%
60+
2
5
40% 50
Table 5.2.7 Awareness of Free online real time Internet banking
Figure 5.2.7 Awareness of Free online real time Internet banking (8) Awareness of Any where banking facility: Any where banking facility enables person to do intra and inter city banking and it is also the additional service which is not offered by all the banks. It was found that anywhere banking facility offered by the bank in of percentage awareness within an age group is maximum in 18-20yrs i.e. 100%. As usual customers in the age group of 18-20 are well informed of the services offered by the bank. As shown in the Table 5.2.8. Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
5
5
100%
20-30
10
10
100%
30-40
18
20
90%
40-50
10
12
83.33%
50-60
6
8
75% 51
60+
3
5
60%
Table 4.2.8 Awareness of anywhere banking
Figure 5.2.8 Awareness of anywhere banking (9) Awareness of Investment advisory services: Investment advisory services offered by the bank enables the customer to buy mutual funds, GOI relief funds, RBI bonds etc. under the guided advise of professional and it is also the additional service which is not offered by all the banks. It was found that Investment advisory services offered by the bank in of percentage awareness within an age group is maximum in 60+ yrs age group and is 80%. This time senior citizen are more aware of this service as compared to customers of 18-20 age group, followed by customers in the age group of 40-50 yrs as people now start investing early. As shown in the Table 5.2.9.
Age interval
No. of respondents aware
Total no. of respondents
Percentage awareness
18-20
1
5
50%
20-30
4
10
40% 52
30-40
8
20
40%
40-50
5
12
41.67%
50-60
6
8
75%
60+
4
5
80%
Table 5.2.9 Awareness of Investment advisory services
Figure 5.2.9 Awareness of Investment advisory services
Services Awareness Availed Chart
53
Figure 5.2.10 Service awareness -availed chart It was found that awareness of ATM services offered by the bank is maximum, followed by anywhere banking and least in case of investment advisory. It was also found that among the customers surveyed ATM service is the most availed service followed by Anywhere banking facility and least availed service was Investment advisory services as depicted in Fig 5.2.10.
54
Fig 5.2.11 Average Satisfaction rating on different services It was found that, on ATM service and Anywhere banking facility, the average satisfaction is maximum at 3.18 out of a scale of 4, followed by Investment advisory services and least average satisfaction was In the case of safe deposit lockers facility that was also too high of 2.75.
5.3
Satisfaction level on drivers of satisfaction 55
Customers surveyed were asked to circle the number that best represents their feelings on Performance attributes (Drivers of Satisfaction) – In column 3A on Degree of Importance on 1-4 scale (4-)“extremely important”, 3-“important”, 2-“slightly important”, 1-“not important” and In column 3B on degree of Performance on 1-4 scale (4-“excellent”, 3-“good”, 2-“fair”, 1-“poor”. An average rating was calculated of the response of different customers surveyed on different drivers of satisfaction factors as shown in Table 4.3.1 which is later on depicted on the Performance –importance matrix as shown in the fig 4.3.1 Factors
Average Importance Average rating
Performance rating
1. Staff Competence
3.54
3.19
2. Prompt Service
3.81
3.21
3. Employees Courteous &
3.43
3.17
3.40
3.11
5. Convenience of Location
3.49
3.14
6. Operating hours
3.31
2.96
7. Competitive fees & Charges
3.43
2.85
8. Competitive interest
3.42
2.93
9. Low balance requirement
3.57
2.6
10.Query & complaint resolution
3.41
3.1
11.ATMs seldom out of cash
3.44
2.97
12.Ambience & Infrastructure
3.17
3.20
friendly 4. Convenience of opening Formalities
rates( FDs)
56
It was found that customers surveyed rated Prompt service the maximum on the importance scale followed by Low balance requirement. Factors like staff competence and convenience of location are also of significance. Ambience and Infrastructure as a factor was rated minimum on the importance scale. What we really need to know though is to what extent bank can improve these areas. Where bank can gain the greatest cost/benefit payoff? In the last column of the table the closer the score is to 4 the better the bank performed in that area, according to its customers Prompt service scored highest. This is important as it is the factor that drives customer satisfaction the most. Ambience and Infrastructure and staff competence were also rated well. However the Table 5.3.1 shows Operating hours, Competitive fees & charges, Competitive interest rates, Low balance requirement (Minimum balance) and ATMs seldom out of cash are all areas that present opportunities for banks Customers rate them as important yet they perform badly in of customers evaluate. Those factors, which lie in the quadrant A are those areas where the bank has performed badly. Low balance requirement (minimum balance) is the area that requires the greatest focus followed by Competitive fees and charges, Competitive interest rates (FDs), Operating hours and ATMs seldom out of cash, bank simply needs to concentrate in those areas. Those factors, which lie in the quadrant B are those where the performance of the bank is good and the bank should try to keep up that good work on the factors-Prompt service, staff competence, Convenience of location, convenience of opening formalities etc. It was also found that no driver of satisfaction factor lie in the quadrant C and D.
57
5.4 How do you rank your product (savings and current ) on
feature, services, reliability, value for money and technology. Avg. Savings Avg. holders holder Features
3.12
3.2
Services
3.07
3.08
Reliability
3.07
3.11 58
Value for money
2.91
3
Technology
3.06
3.08
Table 5.4.1 Average rating on product by savings & a/c holder It was found that average rating by different savings and current customers on all product factors i.e. on feature, services, reliability, value for money and technology. The current customers are more satisfied with the overall product compared to the savings bank holder this is depicted in the Fig 5.4.1
average satisfaction on product 4 3.5 technology
reliability
services
2.5
features
3
value for money
rating scale
savings a/c holder current a/c holder
Fig 5.4.1 Average rating on product by savings & current a/c holder
Period of
Features
Services
Reliabili-ty Value for Technolmoney ogy
3
3.22
Asso . Rating on 0-6 months 3.11
59
3.11
3
6mon-1 yr
3.18
3.14
3.01
3
3.05
1 yr- 2 yr
3.12
3.06
3.06
2.85
3.12
2 yr+
3.10
3.04
3.17
2.95
3
Table 5.4.2 Average rating on product factors vs period of association
It was found that there is no substantial change in the average rating on the different product factors by the customers having different period of association with the bank. This shows that the bank doesn’t makes any difference in providing the services among its customers as shown in Table 5.4.2 It was also found that average satisfaction is maximum on product feature i.e. 3.13 followed services and reliability of the product both at 3.08 and value for money minimum at 2.93. On all the product factors the company has performed good except value for money where the product is rated above average as shown in Fig 5.1
average satisfaction on different product factors
technology
value for money
reliability
services
features
4 3.5 3.13 3.08 3.08 2.93 3.07 satisfaction scale 3 2.5 2
factors
Fig 5.4.2 Average satisfaction on different product factors
5.5
Overall level of satisfaction with the product 60
mean satisfaction rating
percentage of respondents
Fig 5.5.1(a) Average overall Satisfaction rating average overall satisfaction rating 100% 80% 60% 40% 20% 0%
79% 15%
0%
7%
very dissatisfied
neither
satisfied
very satisfied
level of satisfaction
Series1
Among the 60 customers surveyed 15% of customers were very satisfied with the services of the bank, 79% of customers were satisfied with the bank and a very small number i.e.7% of the customers were neither satisfied nor dissatisfied with the services. Which shows a very
avg. satisfaction scale
high level of satisfaction among the customers.
average satisfaction vs period of association 4 3.5
3.11
3.05
3.08
3.06
<6mon
6mon-1yr
1-2yr
2+yr
3 2.5 period of association
avg satisfaction
Fig 5.5.1(b) Average satisfaction vs Period of association It was found that no significant change is being found in the overall satisfaction among the customers with different period of association. Which brings out that bank does not make any difference in providing the services among its customers. (2)
Are you happy with our services and looking for a long-term relationship.
Among the 60 customers surveyed a substantial number i.e. 20 customers responded they are likely (agree) to maintain a long term relationship with the bank, 35 respondents responded 61
that they are very likely (strongly agree) to maintain a long term relationship and only 5 respondents stated they are neither (so-so) to maintain a long term relationship as shown in Fig 5.5.2
Fig 5.5.2 Likely relationship. (3)
Would you recommend this product to others?
It was found that 29 respondents were likely (agree) to recommend, 21 respondents were very likely (strongly agree), 7 customers were neither likely nor unlikely (so-so) to recommend to others and only 3 respondents were very unlikely (strongly disagree) to recommend this product to others. As shown in fig5.5.3
62
Fig 5.5.3 Likely to recommend This represents a high level of satisfaction among the bank customers as the products are being recommended to another people who will be the future customers of the bank. This represents customers are highly satisfied with the bank products.
5.6 S.W.O.T ANALYSIS SWOT ANALAYSIS OF AXIS BANK STRENGTH Right strategy for the right products. Superior customer service vs. competitors. Great Brand Image Products have required accreditations. High degree of customer satisfaction. Good place to work Prompt response time with efficient and effective service. Dedicated workforce aiming at making a long-term career in the field. WEAKNESSES Some gaps in range for certain sectors. 63
Customer service staff need training. Processes and systems, etc Management cover insufficient. Sectoral growth is constrained by low unemployment levels and competition for staff . OPPORTUNITIES Profit margins will be good. Could extend to overseas broadly. New specialist applications. Could seek better customer deals. Fast-track career development opportunities on an industry-wide basis.
THREATS Legislation could impact. Great risk involved Very high competition prevailing in the industry. Vulnerable to reactive attack by major competitors Lack of infrastructure in rural areas could constrain investment. High volume/low cost market is intensely competitive
KEY POINT SWOT Analysis is a simple but powerful framework for analyzing company's Strengths and W e a k n e s s e s , a n d t h e O p p o r t u n i t i e s a n d T h r e a t s f a c e . T h i s 64
h e l p s u s t o f o c u s o n y o u r strengths, minimize threats, and take the greatest possible advantage of opportunities available.
CHAPTER –6
65
FINDINGS AND RECOMMENDATIONS
6.1 Major findings: It was found that awareness of ATM services offered by the bank is maximum, followed by debit card and least in case of investment advisory. It was also found that among the customers surveyed ATM service is the most availed service followed by Any where banking facility and least availed service was Investment advisory services. The nons cited Unawareness regarding the bank’s services to be the major reasons behind not availing of the bank’s services On ATM service and Any where banking facility, the average satisfaction is maximum at 3.18 out of a scale of 4, followed by Investment advisory services and least average satisfaction was in the case of safe deposit lockers facility that was also too high. 66
Prompt service, staff competence, Convenience of location, convenience of opening formalities etc. On all these factors bank is doing well and the bank should try to keep up that good work. Average satisfaction is maximum on product feature i.e. 3.13 followed services and reliability of the product both at 3.08 and value for money minimum at 2.93. On all the product factors the company has performed good except value for money where the product is rated above average. Among the 60 customers surveyed 15% of customers were very satisfied with the services of the bank, 79% of customers were satisfied with the bank and a very small number i.e.7% of the customers were neither satisfied nor dissatisfied with the services. which shows a very high level of satisfaction among the customers. Among the 60 customers surveyed a substantial number i.e. 20 customers responded they are likely (agree) to maintain a long term relationship with the bank, 35 respondents responded that they are very likely (strongly agree) to maintain a long term relationship and 5 respondents stated they are neither (so-so) to maintain a long term relationship. It was found that 29 respondents were likely (agree) to recommend, 21 respondents were very likely (strongly agree),7 customers were neither likely nor unlikely (so-so) to recommend to others and only 3 respondents were very unlikely (strongly disagree) to recommend this product to others.
Suggestions on Add-on services as proposed by respondents Small amount DD can be made through cash. F.D. extension or renewal through phone banking. 67
Proximity should be increased through more branches or extension counters. Internet banking only enlists the last 10 transactions made, it should be increased. Frequent mailers should be sent on new product and services introduced from time to time. Free monthly statement of in place of quarterly. ATMs daily withdrawal limit must be increased which is presently Rs 15,000. Cash teller must have adequate currency notes of Rs500 and Rs1, 000. Number of customer’s do complained of the less operating days or the no. Of days it is open. The bank can remain open on Sundays also to overcome that. Provision of taking out the bank statement of the specified period from the ATM
itself.
6.2Recommendations: The non-s cited unawareness regarding the banks product and services to be the major reason behind not availing the bank’s services. So bank should launch awareness campaign for making customers aware of the different services like personalized service, Lockers, Phone banking and Investment advisory services and products like bank at campus. Majority of respondents do complained of the working of ATMs, ATMs out cash and disconnection of network were the major fault areas, even though they were satisfied with the bank’s a wide network of ATMs. 68
There were number of respondents especially Senior citizens who have ATM card but does not make use of it because number of people does not know how to use it. So bank can organize an awareness week where ATMs usage can be taught. Number of customer’s do complained of the less operating days or the number of days it is open. The bank can remain open on Sundays also to overcome that. Banks average quarterly low balance requirement of Rs 10,000 is both pros and a con for the bank. It is quite reasonable in comparison with the foreign banks but high when compared to other nationalized banks .
6.3Limitations: The present research was restricted to only savings and current holders of the bank. The survey was restricted to Karol Bagh branch because of time and resources constraints. Therefore the generality of the findings cannot be claimed until further research has been carried out. The sample size is 80, which may not reflect a true picture of the consumer’s mind.
69
The respondents are chosen through simple random sampling and only the persons who have knowledge of English language were surveyed. It is also pretty hard to pursue a customer to share his feelings as they are in a hurry so possibility of biases of the respondents may not be precluded.
The following sources have been sought for the preparation of this report.
Books
70
The Total Money Makeover: A Proven Plan for Financial Fitness, Dave Ramsey, DATED 18/07/2013 Pg No- 44 The Millionaire Next Door, Thomas Stanley and William Danko, DATED 30/10/2013, Pg No-88
Magazine Money life, DATED 18/10/2013, Pg No -51 Business world, DATED 07/09/2013, Pg No -172
Newspaper Economic times, DATED 11/06/2013, Pg No -56 Hindustan times, DATED 07/08/2013, Pg No -90 Websites •www.axisbank.com •http://www.iloveindia.com/finance/bank/private-banks/axis-bank.html •http://economictimes.indiatimes.com/axis-bankltd/infocompanyhistory/companyid9195.cms •http://findarticles.com/p/articles/mi_qa5321/is_200407/ai_n21351846/pg_5 •http://humanresources.about.com/od/glossarye/a/employee_inv.html •http://www.nrdc.org/buildinggreen/bizcase/own_productivity.asp •http://www.nhpcindia.com/English/Scripts/Aboutus_Objectives.aspx •http://wiki.answers.com/Q/Why_to_study_about_employee_satisfaction •http://wiki.answers.com/Q/What_is_the_importance_of_employee_satisfaction_in _an_orga nisation
Thank you for agreeing to participate in this survey. I am a student of a MAIMS conducting a market research to know the usage pattern of Credit card 71
of AXIS BANK and its services. Take a few moments of your time and answer a few questions. Your answers will be confidential and used only in combination with the responses of other people. Person Interviewed: ____________________________________________ Address: ________________________________________________________ Age: _________ Gender: Male Female Occupation: _______________________
1. Awareness about Personalized Banking Facility? Yes □ No □ 2. Awareness about Phone Banking Facility? Yes □ No □ 3. Awareness about Free Door Step New Opening Facility? Yes □ No □ 4.
Awareness about Safe Deposit Lockers? Yes □ No □
5. Awareness of ATM Service? Yes□ 72
No □ 6. Awareness about Charged National And International Debit Card Service? Yes □ No □ 7. Awareness of Free Online Real Time Internet Banking Service? Yes □ No □ 8. Awareness about Any Where Banking Facility? Yes □ No □ 9.
Awareness about Investment Advisory Service?
Yes □ No □ 10. Score following services for Saving (0-5)? Features Services Reliability Value For Money
11. Score following services for (0-5)? Features Services Reliability Value For Money
73
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