Service Marketing


Service Delivery Process
at Sharekhan Ltd.
 Contents

 Industry Analysis
 Company Profile
 Service Encounters
 Service Blueprint
 Gaps Model
 Questionnaire Analysis
 Industry Analysis

 The share of service sector in India’s GDP for the fiscal year
2009-2010 stood at 56%.
 The Indian broking industry is one of the oldest trading
industries that has been around even before the
establishment of the BSE in 1875.
 Trading, IPOs and Mututal Funds are the top three
products offered with 90% firms offering trading, 67% IPOs
and 53% firms offering mutual fund transactions.
 The Indian retail brokerage market is going through a
wonderful phase with high growth rate. It is expected to
reach US$ 6535.7 billion by the year 2015.
 Company Profile

SHAREKHAN LIMITED
 VISION: - “To be the best retail broking brand in the
Indian equity markets.”
 India’s leading stock broker firm of SSKI group.
 Sharekhan.com was launched in 2000.
 More than 175 broking firms in over 80 cities. Into
broking industry since 80 years.
 Service’s of Sharekhan

 Equity and Derivatives trading.
 Depository services.
 Mutual Funds.
 Commodities trading.
 DIAL-N-TRADE.
 Portfolio Management.
 Fundamental Research.
 Technical Research.
 Service Encounter

 The service encounter or Moment of Truth is
Meet the client & Get the Form
Sales Call
Convince him signed up

Generally there are three types of service encounters:-

1)Remote encounter(Website/Emails)
2)Phone encounter
3)Face-to-Face encounter
Service blueprint of Sharekhan Ltd


 Service Blueprint

The Blueprint will have 5 components
 Physical Evidence
 Customer Actions( Line of Interaction)
 Onstage Contact Employee Actions (Line of
visibility)
 Backstage Employee Actions (Line of internal
interaction)
 Support Processes
 Gaps Model

Gap1:- The Promotional Gap:-
The origin of the problem lies in the company’s marketing
communications.
In the bid to get new customers by selling the benefits of their
product or service companies can very easily create expectations
in the minds of customers that will be difficult to fulfill.
Gap2:- The Understanding Gap:-
Another problem area is that the organizations do not have a
proper understanding of customers’ needs and priorities.
If they don’t realize what is important to customers, it is quite
possible that customer will not be satisfied despite good quality
of service.
 
Gap3:- The Procedural Gap:-
Despite the organization having proper understanding of what
matters most to the customers it may still fail to deliver customer
satisfaction if it cannot translate customers’ expectations into
appropriate operating procedures and systems.
Gap4:- The Behavioral Gap:-
Sometimes organizations establish clear procedures which can
match with the customers’ needs and priorities but still fail to
achieve a consistently high level of customer satisfaction because
staff may not be sufficiently trained or disciplined to follow the
proper procedures at all times.
 
Gap5:- The Perception Gap:-
It is possible that above mentioned gaps do not exist
still some customers may be dissatisfied.
This is because of the customers’ perception of the
performance of organization which may differ from
reality.
 Questionnaire Analysis

 The sample size for this was 50
 A Likert Scale was used, where customers were asked to rate
the given parameters on the scale of one to five.
 These parameters were clubbed together to get a clear
understanding of the satisfaction of the customers with
sharekhan. All the levels of scale were given different weight
as follows:
Highly dissatisfied (high dis)-1, dissatisfied (dis)-2,
neutral (neut)-3,satisfied-4, highly satisfied(high sat)-5.
These values are shown in bracket besides the categories
under a bracket.
 
high dis neut sat( high
dis(1) (2) (3) 4) sat(5)
calls made 10 7 10 20 3
Behavior 0 0 5 40 5
knowledge of executive 0 5 3 29 13
reply of executive 1 7 10 26 6
Brokerage 10 5 5 23 7
trading screen & browser
speed 0 0 2 31 17
account opening duration 13 17 0 18 2
meeting before activation 3 17 6 19 2
Response time 3 7 2 29 9
 
 The number of respondents in each category for
every parameter was multiplied with their respective
weight and then the values for there parameter were
added.
 The sum was then divided by the number of
respondents.
 This way the average was calculated for each
parameter.
 high Neut Sat high Max
dis(1) Dis(2) (3) (4) sat(5) Total Score Score
calls made
Behavior
10
0
14
0

30 80
15 160
15
25
149
200
2.98
4
5
5
Knowledge of
executive 0 10 9 116 65 200 4 5
reply of
executive 1 14 30 104 30 179 3.58 5
brokerage 10 10 15 92 35 162 3.24 5
trading screen &
browser speed 0 0 6 124 85 215 4.3 5
account opening
duration 13 34 0 72 10 129 2.58 5
meeting before
activation 3 34 18 76 10 141 2.82 5
Response time 3 14 6 116 45 184 3.68 5
 Findings

 Telephone encounters, related to toll-free number also
create a higher level of satisfaction.
 Customers are highly satisfied with the knowledge and
behavior of the executives.
 The time taken to activate the account is dissatisfactory
as there exists a promotional gap. The company
promises to activate the account in 10-12 working days,
but in many cases this stretches to 16-18 working days.
 Generally, the customers are satisfied with the
demonstration, yet there is scope for improvement.
 
 The customers have, generally, been found to be satisfied
with the reply of the executives to their query. This can be
inferred from the average of the query which is 3.58 and is
very close to satisfaction level.
 The response time of the executives has also played an
important role in the satisfaction level of the customers, as
is clear from the average of 3.68.
 Brokerage charged by the company is one area where the
company should work on. The satisfaction index shows
the level of satisfaction in this regard to have an average of
3.24 only.
 Suggestions

 Training to the employees to minimize deficiencies and fasten the
process of account activation.
 Account activation duration should be decreased from the
present level of 16-18 working days to the promised duration of
10-12 working days.
 Brokerage charged by the company should also be brought down
to compete with other players. (especially in intra-day trading.)
 Mock demonstration should be conducted by the employees in
the office itself by the onstage contact employees among
themselves and they should try to assess their weakness and
strengths in the presentation.
 Conclusion

 The research was an opportunity to understand the
service delivery process of a major financial
institution of the country.
 The concept of service blueprint was used to
understand customer needs and as a tool of service
improvement through which all service encounters
were analyzed and classified.
 

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