Puneet Sachdeva,2k72a40; Winter Project

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    Winter Project Asia Pacific Institute of Management 2K72A40 1

    COMPARATIVE STUDY OF CUSTOMER PERCEPTIOAD

    EXPECTATIO OF SERVICE QUALITY OF BAKS

    A project submitted towards the partial fulfillment of the

    requirement of the two years full time Post-graduate Diploma in

    Management

    Under the guidance of:

    PROF. S. GOSWAMI

    Submitted By:PUEET SACHDEVA

    2K72A40(PGDM, 2007-2009)

    Asia Pacific Institute of Management

    3 & 4 Institutional Area, Jasola, ew Delhi-110025

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    DECLARATIO

    I hereby declare that the project entitled Comparative study of

    customer perception and expectation of service quality of banks

    submitted by me in partial fulfillment towards the requirement of the

    award of PGDM (full time), is my original work and the project has not

    been previously used for the award of any degree, associate -ship,

    fellowship or any other similar titles.

    (Puneet Sachdeva)

    Signature:

    Place: Delhi

    Date:

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    CERTIFICATE

    This is to certify that the project entitled Comparative study

    of customer perception and expectation of service quality of

    banks is the bonafide work carried out by Puneet Sachdeva,

    student of PGDM (full time), Asia Pacific Institute of

    Management, Delhi, during the year 2007-2009, in partial

    fulfillment of the requirements for the award of the PGDM, and

    that the project has not formed the basis for the award

    previously of any degree, diploma, associateship, fellowship or

    any other similar title.

    Signature of the Guide:

    Place: Delhi

    Date:

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    ACKOWLEDGEMET

    In todays competitive and corporate world, imparting of practical knowledge is of

    immense importance and therefore it becomes the essence of our MBA curriculum.

    The aspiring student gets a chance to be associated with the organizations that are

    making the mark in their respective fields.

    In the quest of learning and to get exposure of corporate world, I opt for ICICI Bank

    and SBI Bank for seeking the customers expectation and perception of the service

    quality of the banks.

    I would like to acknowledge and extend my heartfelt gratitude to the following

    persons who have made the completion of the project possible:

    Our Director, Dr. D.K. Banerjee for his vital encouragement and support.

    Prof. Subrata Goswami, Professor & Area Chairperson Marketing, Asia-Pacific

    Institute of Management. I am grateful to my mentor as he supported, guided and

    gave me valuable time in coordinating my project.

    All other associated persons whose benign attitude made me to strive for the best. The

    ambience during the entire training was very professional. I learnt a lot.

    Last but not the least I thank almighty for his kindness, my parents, family members

    and friends for their unconditional love and support.

    PUEET SACHDEVA2K72A40PGDM (2007-09)Asia Pacific Institute of Management

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    LIMITATIOS

    Time & money constraints as all regions could not be covered.

    Samples were obtained from few selected ATMs across South Delhi as

    such whole consumer preferences could not be taken into account.

    Relying on secondary data.

    Information or Details related to research, revealed by customers, may be

    biased or not trustworthy.

    The results are generalized up to regional basis.

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    EXECUTIVE SUMMARY

    Without a sound and effective banking system in India it cannot have a healthy

    economy. The banking system of India should not only be hassle free but it should be

    able to meet new challenges posed by the technology and any other external and

    internal factors.

    Not long ago, an account holder had to wait for hours at the bank counters for getting

    a draft or for withdrawing his own money. Today, he has a choice. Gone are days

    when the most efficient bank transferred money from one branch to other in two days.

    Now it is simple as instant messaging or dial a pizza. Money has become the order of

    the day.

    Delivering quality service consistently gives a competitive edge to service

    organizations. It requires an understanding of customer expectations and the types of

    expectations.

    While evaluating service offered by a bank, customers compare perceived quality of

    service with the expected quality of service. Therefore, banks should have knowledge

    about customer perceptions and the influence of factors such as service encounter,

    service evidence, image of the service organization, and price of the service on

    customer perceptions.

    Excellent customer service starts by first taking the time to get to know the customer,

    his situation, his vision, his frustrations and his goals.Once you have a good handle

    on what is on his heart and mind, then you will know how to offer the customer

    helpful solutions that are attractive to him because they have value to him.

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    Banks should also attempt to understand the various types of service encounters like

    remote, face-to-face, and phone encounters to be able to understand customer

    perceptions. They should examine the factors that influence customer

    satisfaction/dissatisfaction, like recovery, adaptability, spontaneity, and innovate

    strategies to influence customer perceptions.

    In the present situation of world crisis it becomes more important for the banks to

    make sure that the customers hold on to them and they have confidence in the present

    workings of the bank. Any deviation from the quality service experienced by a

    customer can have a very large impact on the working of the bank.

    In this project, I have basically focused on the various customer expectations and

    perceptions of two banks. ICICI bank, the largest bank in the private sector and SBI,

    the largest in the public sector. I have chosen these banks to come up with an

    unbiased output.

    Both the banks are the leaders in their respective segments. And the project output

    will help the banks to stay in the industry & outperform its competitors. It would also

    help me to understand the latest & emerging trends in the customer tastes and

    expectations.

    I have analyzed the banks service with the help of structured questionnaire and

    applied hypothesis testing to describe relation between the various variables.

    The banks, if work on the output of the project might come up with the best possible

    services. This will certainly help the banks to meet customer level of service and

    retain them. This further shall help the banks to win Goodwill by word of mouth

    because a satisfied customer will spread the good quality service received from banks

    to his/her known ones.

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    COTETS

    S.o. Particulars Pageno.1

    Acknowledgement 4

    2Limitations 5

    3

    Executive Summary 6

    4 Chapter 1:Introduction 9

    5 Chapter 2:Literature Review 21

    6 Chapter 3:

    Objective of the study 40

    7 Chapter 4:Methodology 42

    8 Chapter 5:Observation, Analysis and Discussion 46

    9 Chapter 6:

    Summary/Conclusion/Recommendations 61

    10References 67

    11Appendices 69

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    The issue of quality management within banking services has drawn considerable

    attention over the past few years. The move to managed service has increased

    demands for outcome-based accountability, cost containment, and attention to

    customer-focused quality in order to remain competitive in a rapidly changing

    environment. This dual focus on driving down costs while increasing quality has

    intensified pressures to understand, measure, and manage quality from a customer

    perspective.

    Commercial banks form the largest and are the countrys most important group of

    financial institutions. With stiffer competition among domestic and foreign banks,

    therefore it is important for the commercial banks in India to improve the quality of

    their services. Further, increased in consumer preferences toward banking products

    choosing the banks that give them the best service quality is a priority. As

    globalisation and liberalisation of financial institutions accelerate, competition among

    banks in offering products and services becomes more intense. Customers in India

    become more educated better