AXIS BANK

MM-II Project (Post Mid Sem.) | Sec – B | Group - 4

SUBMITTED BY:

18202079 ANKITA ABHIPSA GURU

18202082 ASHA PATAWARI
18202090 DEWASHISH SURJAN
18202101 NEHA SUMAN
18202104 PRAGYAN PANDA
18202116 SHUBHENDU DASH
18202126 SUBHASHREE UPADHYAYA
18202134 TEJASWINI UPADHYAY
18202238 NAVTEJ PATTANAIK
18202140 VIPUL TYAGI

KIIT School of Management | KIIT University

MBA-I | SEM-2 (spring) | 25-03-2019
 AXIS BANK

ACKNOWLEDGEMENT

In performing our assignment, we had to take the help and guideline of some respected persons, who deserve
our greatest gratitude. The completion of this project gives us much pleasure. We would like to show our
gratitude to Kumar Mohanty, Associate Professor, Director Corporate Relations, KIIT School of
Management, KIIT University for giving us a good guideline for our project throughout numerous
consultations. We would also like to expand our deepest gratitude to all those who have directly and indirectly
guided us in completing this project. We also thank the different sources for consent to include copyrighted
pictures as a part of our report. Many people, especially our classmates and team members itself, have made
valuable comment suggestions on this proposal which gave us an inspiration to improve our project. We thank
all the people for their help directly and indirectly to complete our project.

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TABLE OF CONTENTS

ACKNOWLEDGEMENT ................................................................................................................................................................ 1
TABLE OF CONTENTS .................................................................................................................................................................. 2
LIST OF FIGURES ......................................................................................................................................................................... 3
1 PRODUCTS AND SERVICES FACILITIES.................................................................................................................................. 4
2 CONSUMER PREFERENCES OF AXIS BANK PRODUCTS ......................................................................................................... 5
3 CONSUMER PERCEPTION FOR THE COMPETITORS .............................................................................................................. 8
4 MARKETING MIX................................................................................................................................................................. 9

5 AREA OF DISSONANCE ...................................................................................................................................................... 11

6 CHART ANALYSIS............................................................................................................................................................... 13
7 SPSS FACTOR ANALYSIS .................................................................................................................................................... 18
8 CONCLUSION .................................................................................................................................................................... 22

9 REFERENCES ...................................................................................................................................................................... 22

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LIST OF FIGURES

FIGURE 1: GENDER ANALYSIS ........................................................................................................................ 13

FIGURE 2: OCCUPATION ANALYSIS ................................................................................................................. 13
FIGURE 3: ANNUAL INCOME ANALYSIS ........................................................................................................... 14
FIGURE 4: USAGE PERIOD ANALYSIS ............................................................................................................... 14
FIGURE 5: CUSTOMER SATISFACTION ANALYSIS .............................................................................................. 15
FIGURE 6: BRAND ANALYSIS .......................................................................................................................... 15
FIGURE 7: CUSTOMER BASE INCREMENT ANALYSIS ......................................................................................... 16
FIGURE 8: RECOMMENDATION LEVEL ANALYSIS .............................................................................................. 16
FIGURE 9: SERVICE PREFERENCE ANALYSIS ..................................................................................................... 17
FIGURE 10: EMPLOYEE’S DEPTH ON PRODUCTS ANALYSIS ................................................................................ 17
FIGURE 11: PREFERABLE PRODUCT ANALYSIS.................................................................................................. 18

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1 PRODUCTS AND SERVICES FACILITIES

Axis Bank is one of the largest privately owned financial institution in India.

1.1 AXIS BANK PROVIDES A LOT OF PRODUCTS AND SERVICES:-

Axis Bank Business Loan, Axis Bank Car Loan, Axis Bank Credit Card, Axis Bank Debit Card, Axis Bank Education Loan,
Axis Bank FD Rates, Axis Bank Gold Loan, Axis Bank Home Loan, Axis Bank Personal Loan, Axis Bank Savings Account
are the major products and services provided by the company.

Credit Cards have become extremely popular in the Indian market. Axis Bank is counted among the top credit card
issuing banks in the country. Loaded with many benefits and features, these cards are suitable for customers with
varying spending preferences. An individual can avail credit cards, which suits his/her spending habits and other
preferences. Each axis bank credit card gives many rewards, loyalty points and offers. Axis bank offers an App the AXIS
APP, which helps in online transactions and makes it much easier for people these days.

1.2 SERVICES OFFERED BY THE VARIOUS CREDIT CRADS OF AXIS BANK

Services offered by the AXIS Bank for various credit cards are mentioned below.

1.2.1 AXIS BANK BUZZ CREDI T CARD:

An exciting card of shopaholics, which gives many benefits on online purchases, people, can earn many reward points
by purchasing a minimum amount.

1.2.2 AXIS BANK MY ZONE CREDIT CARD:

This card is best for entertainment expenses as it makes us earn a lot of reward points and cashbacks. It is PIN protected
and is completely secure

1.2.3 AXIS BANK NEO CREDIT CARD:

It is also for the shopaholic and movie lovers and gives benefit for the cashback for shopping online and booking tickets.

1.2.4 AXIS BANK SELECT CRE DIT CARD:

This card is very much convenient for people who travel a lot as it gives ample services and cashback offers on airport
lounges, on booking tickets etc.

1.2.5 AXIS BANK PRIDE PLATINUM CREDIT CARD:

This credit card comes free of cost and there is no joining fee payable on the card, they give personalised card with
shades also free add on cards for family

1.2.6 AXIS BANK MILES AND MORE CREDIT CARD:

It is again for travellers as it gives lot of benefits to people travelling a lot. Also gives access to MasterCard lounges

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1.2.7 AXIS BANK VISTARA CREDIT CARD:

One gets a complimentary economy class ticket as welcome benefit, best suited for travellers again and gives lifestyle
privileges.

1.2.8 AXIS BANK VISTARA INFINITE CREDIT CARD:

One-get complimentary business class tickets as welcoming gift, also gives lot of complimentary offers while playing
golf.

1.2.9 AXIS BANK SIGNATURE CREDIT CARD:

It is best for frequent flyers and gives many benefits especially to the loyal vistara customers.

From the survey, we found that, most of the people these days prefer internet banking as it is convenient. We also
found that people mostly use platinum credit card and buzz credit card be it a student or working professional, axis
bank is now a most used bank all because of various reasons like, the behaviour of the employees and also the
products and services they offer.

2 CONSUMER PREFERENCES OF AXIS BANK PRODUCTS

2.1 PRODUCTS AND SERVICES PREFERENCES

Axis bank provides various kind of products to its customer, which is explained below according to the preferences of
the consumer.

2.1.1 AXIS BANK BUSINESS L OAN

This is for small business expansion. Business having 3-year transaction can avail this loan. Professional can also avail
this loan for expansion purpose. This is collateral free with minimum documentation and has a hassle-free application
process that makes it one of the most popular options in the market.

2.1.2 AXIS BANK CAR LOAN

It provide most cost effective car loan starting with Rs. 100000 for a tenure of 8 years. Priority Banking, Wealth Banking
and salary account holders- all are eligible to avail a car loan with the bank. The processing fee for Axis Bank car loan
is also comparatively lower in the market and the interest rates start at 9.25% only.

2.1.3 AXIS BANK DEBIT CARD

Saving account holder gets extra benefit of debit card for cashless transactions. There are various kinds of debit card
such as. Priority debit card, youth debit card, online reward debit card, women first debit card, power debit card etc.
Daily withdrawal limit, loyalty point etc. depends upon the card customer is using.

2.1.4 AXIS BANK EDUCATION LOAN

It helps to follow the dream of the student by giving hassle free loan procedure for higher studies may be in reputed
Indian institute or international. The maximum limit is up to 75lac, which cover tuition fees hostel fees etc.

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2.1.5 AXIS BANK FIXED DEPOSIT

Lump sum amount can be invested in axis bank fixed deposit minimum Rs. 5000. The tenure is from 7 days to 10 years.
It can also opened from home through online banking system. The main advantages of axis bank fd is attractive rate
of interest, less penalties for premature encashment etc.

2.1.6 AXIS BANK GOLD LOAN

Most urgent monetary need can be fulfilled through gold loan scheme. In this scheme gold is liquidate and loan is
given at lower rate of interest. The tenure is from 6 months to 36 months. Customers can choose period according to
the requirement.

2.1.7 PERSONAL LOAN

This loan fulfil the requirement of cash for personal purpose such as luxury vacation wedding etc. The minimum age
for availing this loan is 21 years .The Maximum amount is rs 15lac. It is without any securities so documentation is also
less.

2.1.8 HOME LOAN

Reason why consumer prefer axis bank home loan, Attractive rates of interest , Choice of interest rate type- fixed and
floating, Transfer other bank home loans to avail lower rates, Zero pre-payment charges, Service at your doorstep,
Smooth application process etc.

2.1.9 SAVING ACCOUNT

There are various kind of axis bank account, which help customer to save their money. Various kind of saving account
are Basic saving account , youth saving account , pension saving account , Insurance agent account , Future star saving
account etc.

2.2 AXIS BANK CREDIT CAR DS PREFERENCES

Axis bank credit card is among the top credit card issuing bank in India .It first issue its credit card in the year 1999. So
most of the consumer prefer axis bank credit card. This is the reason we choose to do survey on axis bank credit card.
Axis bank provide various kind of credit card according to the consumer preference. From our survey, we got to people
having Income more than two lac tend to use credit card. Mostly urban area people use credit card because they have
more purchasing power than rural people do. According to survey 65 % male use credit card whereas only 35% of
woman use credit card. The Female are mostly working women who use the credit card. Various types of credit cards
axis bank offer suck as;

2.2.1 AXIS BANK BUZZ CREDI T CARD

6-reward point is given in each Rs 200 transaction. There is no annual fees charged in this card. !0% discount is given
in case of purchase from flipkart.

2.2.2 MY ZONE CREDIT CARD

Exciting offer is given in case of movie ticket, shopping, restaurant bill etc. 4 points is given in each rs 200 transaction.
25% cashback is given in case of movie tickets.

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2.2.3 NEO CREDIT CARD

10% cash back is given in case of movie tickets and bus ticket booking. 2-reward point is given for each rs 200
transaction.

2.2.4 VISTARA CREDIT CARD

In case of new card economy class, ticket is given in free of cost. 2CV points on every spend of INR 200, 1000 CV
points on spends on 50 K in the first 90 days

2.2.5 VISTARA SIGNATURE CREDIT CARD

One complimentary premium economy class ticket is given in case of joining. The reward point is 4 in every 200 saving.

2.2.6 VISTARA INFINITE CREDIT CARD

Six point as reward for 200 spending

2.2.7 PRIVILEGE CRDIT CARD

Various travel benefit is given to the cardholder.

2.2.8 MILES AND MORE CREDI T CARD

The card cover insurance up to 5.8cr. Complimentary Priority Pass membership for lounge access all over the world.

2.2.9 RESERVE CREDIT CARD

Exclusive benefit in Taj hotel and luxury life is given to the user.

2.2.10 SELECT CREDIT CARD

The Axis Bank SELECT Credit Card offers handcrafted benefits to suit your lifestyle. The benefits of the Axis Bank SELECT
Credit Card include 5000 Axis edge reward points, Club Marriott Membership and Priority Pass Membership. The card
also offers you exclusive features such as complimentary lounge access, rounds of golf and up to 20% discount with
Dining Delights.

2.2.11 PRIDE PLATINUM CRE DIT CARD

It Serve to the brave soldiers by giving 25% discount in restaurant travel etc.

2.2.12 PRIDE SIGNATURE CREDIT CARD

It provide benefit to defence welfare Association. It gives 15% discount in restaurant and free fuel surcharge.

2.2.13 MY ZONE EASY CREDIT CARD

It is a chip n pin enabled card against the fixed deposit in axis bank. It gives flexible withdrawal according to 1-day limit.

2.2.14 INSTA EASY CREDIT CARD

It is also a chip n pin enabled card.

2.2.15 SIGNATURE CREDIT CAR D WITH LIFE STYLE BE NEFIT

It is a premium credit card for people wanting luxury life.

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All above, are the credit card options given to the customers. They can choose according to their capacity and
requirement.

According to our research, most of the costumer prefer buzz credit card and platinum credit card because of the
service they get and fewer charges, they have to pay.

The focus of axis bank is to provide innovative and quality product and services to its customers. Their objective is to
offer a full range of financial products and banking services catering to all levels of the economic pyramid. They focuses
on consumer preference while providing any product or services. They also have customize product for each segment
of customer. They also develop a matrix named product sustainable matrix to minimize the risk of the consumer.

They also have an app called LIME, which is integrated of the payment app and shopping. They have also ping pay app
for peer-to-peer money transfer.

3 CONSUMER PERCEPTION FOR THE COMPETITORS

Consumer perception towards banking plays an important role in bank’s benefit. In order to remain competitive, banks
introduce new consumer banking products and services that will make it more convenient and reachable to the public.
We are focusing on credit card with respect to other competitors. Towards flexibility of the card, HDFC is better and
ICICI is second and last is Axis. The benefits of credit card includes 5000 axis edge reward points. The card offers
exclusive features such as complimentary lounge access, rounds of golf and up to 20% discount with dining delights.

On first online transaction, you can 100 points. The customer choose the credit cards of Axis Bank is they like the retail
banking .It gives good facilities like cashback etc. The limit of the card is reasonable and it updates the account
immediately. When you purchase they provide a loyalty point. From a study, we noticed that, it mainly focuses on
customer relation. There are many benefits such as you do not have to wait for a long queue to pay an electricity bill.
There are no transaction or registration charges.

On make my trip, wide range of offers are also provided. On a minimum booking amount INR 5000-7000 we get 1000
cashback on domestic flight bookings. On Flipkart, it also provides gift voucher worth Rs1000.On dining charges it
provides 20% off on Swiggy. On Shopper stop, it is 12% for shopping. On wellness, it is 22% Of on Netmeds. It provides
40% off on oyo hotels and home booking 15% off on Samsung products. 10% cashback on Panasonic. 16% discount on
Apollo pharmacy.

It provides all benefits to the customers where customers will never be dissatisfied. People are becoming more service
oriented. It has a support of various promoters with it. We can do instant fund transfer. It has distribution services like
Mutual Funds, Insurance, Govt. bonds, Stamp paper, and Gold coin. In collection services, it has taxes and utility bills.
It also provides online banking which includes Internet Banking, E-statements, Axis pay Go.

Mostly service class persons prefer Axis Bank. Therefore, the above study was on consumer perception that is how
they think, and what they want from their banks. It is not only a leading private sector bank but its vast range of
products and availability of options make it one of the better banks in India.

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4 MARKETING MIX

4.1 PRODUCT

4.1.1 ACCOUNTS:
Savings Accounts, Salary Account, Current Account, Axis Direct Invest Account, Safe Deposit Invt. Account,
Safe Custody, National Pension System, Pension Disbursement Account, Sukanya Samriddhi Yojana, Axis Active
PMJDY

4.1.2 DEPOSIT:
Fixed Deposits, Recurring Deposits, Tax Saver Fixed Deposit, Fixed Deposit Plus, Encash 24 Flexi Deposit

4.1.3 CARDS:
Credit Cards, Debit Cards, Prepaid Cards, Transit Cards, Commercial Credit Cards, Commercial Debit Cards,
Digital Payments

4.1.4 LOANS:
Home Loan, Personal Loan, Holiday Loan, Car Loan, Education Loan, Super Bike Loan, Loan Against Property,
Loan Against Fixed Deposit, Commercial Vehicle & Constructive Equipment Loan

4.1.5 INVESTMENTS:
Mutual Funds, Demat Account, 7.75% Savings Bonds, Public Provident Fund, Atal Pension Yojana, IPO Smart,
Alternative Investment Products, Future Planning Solutions, Axis Direct, Kisan Vikas Patra

4.2 PROMOTION

Axis bank promotes its offers and products through different mediums. These include print advertisements, TVC, and
digital marketing channels. Axis Bank gives discounts and offers to its customers on interest rates and gift hampers in
lucky draws for those who avail loans. “Wheels of fortune” is one such lucky draw for loan holders, winners of this
draw would receive gifts and prizes. Bollywood actor Deepika Padukone is the brand ambassador for Axis bank in its
promotional activities.

4.3 PRICE

Axis bank pricing decision should follow the regulation set by RBI. The main sources include interest rates, commission
charges and consulting fees. Hence, it makes the pricing policy very complex, which makes the marketing mix critical.
Currently the interest rates for fixed deposits are 7% for amounts less than 1 crore and 6.25% for amounts between 1
to 5 crores.

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For loans the interests rates are as follows –

· Home loans- 9.45% p.a (MCLR+0.15%)

· Personal loans -15.5% - 24%

This covers the pricing strategy of Axis bank

4.4 PLACE

Axis bank is currently present in 2900+ branches in India and conjointly operating in nine international
offices. One in every of the foremost necessary place for the banks wherever customers go from their branches
is ATM. This where most of the people take their cash and Axis Bank has twelve thousand plus of them across
the length and breadth of our country. This shows the sturdy place strategy within the Marketing mixture of
Axis Bank. With the emergence of recent technology Banks are grasping it for the convenience of consumers,
these includes internet and mobile banking services wherever customers will interact while not ever attending
to a bank. This conjointly helps banks in reducing prices.

4.5 PEOPLE

Axis bank have more than 50000 employees. Axis bank focuses on the training and development of its employees
for enhancing their capabilities, which in return will increase the performance of the company and satisfaction
of the customers.

4.6 PROCESS

Axis bank processes are the best in the industry. Which in turn increases satisfaction of the customer and
increases operational efficiency. Process like dealing with customers, cash and other transaction are designed
to get best results. Axis Bank have segregated counters for different operations and they have special counters
for special requirements/plans as required by the customers. They also have machine for withdrawal and
deposits, which does not require employee’s interaction.

4.7 PHYSICAL EVDENCE

The logo of Axis bank gives strong base and show they are going to develop in future. Every year financial
statements are released for the investors and customers. Their website is very user friendly and their app is easy
to use. They also reduced its paper usage to help staff perform the daily task efficiently. They also use billboards
and hoardings at different places and near junctions for promotion with its tagline: “Badthi Ka Naam Zindagi”
which means progress in life.

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5 AREA OF DISSONANCE

Let us first know the meaning of “DISSONANCE” lack of agreement.

DISSONNANCE -Reducing buying behaviour .Just like complex behaviour, consumer with dissonance have high
amounts of involvement. Buyers in this behavioural situation perceive very few differences among the brands, they
select products. The keyword here is Perceiving.

A Credit Card looks just like a debit card. Instead of having the funds removed directly from your checking account
when the consumer makes a purchase, they will essentially take a short-term loan. This loan may or may not accrue
interest, depending on what they pay off. Edward Bellamy in his utopian novel Looking Backward described the
concept of using a card for purchases in 1887. Bellamy used the term credit card eleven times in this novel, although
this referred to a card for spending a CITIZENS DIVIDEND from the government, rather than borrowing.
The size of most credit cards is {3^3/8*2^1/8} in (85.60*53.98mm), conforming to the ISO/IEC 7810 ID-1standard.
Credit cards have an embossed bankcard number complying with the ISO/IEC 7812 numbering standard.

Consumers get confused-

 Are credit cards dangerous?

 Should they take a credit card?

 Why they should not use credit card?

 Is it bad to have more credit cards?

 Should they use credit card for everything?

Many credit card consumers are actually unprofitable for banks. Post –Purchase Dissonance is another way to say
“after the sale discomfort”. It occurs once a consumer begins to “notice “any disadvantages of their purchase and
begin to hear “good things” about the other options that they didn’t think of. To counter these feelings marketers
should be running after sales-communication campaigns with focused targeted messaging. If there is a zero interest,
the bank is trying to establish a relationship with the consumer.

The financial world we live in today can be an intimidating arena, after challenging our perception of wealth generation
and creation. A majority of the population services on credit, either in the form of loans or overdrafts on their credit
card.

Customers get confused with their choices. Credit card blow their budget. The biggest disadvantages of credit card is
that encourage people to spend money that they don’t have .Customers are also aware that high interest rates and
increased Debt-Credit cards companies charge them enormous amount of interest on each balance that they fail to
pay-off at the end of each month.
However, when used responsibly, a credit card can be of great help and can help us in building a good credit history
allowing us to get loans at favourable interest rates, cheaper insurance. Credit cards helps earn rewards on their
everyday purchase and protects these purchases in case of theft or damage. Customers are often loyal to themselves
– to their own schedule and get attracted to cheaper products and faster services. Every bank provides every benefit
these days; hence, the customers go through a lot of dissonance. They get confused with the product and service to
stand with. Customers mostly at times get inclined towards the “excellence service” than branch. People are too busy
these days to avail late services. They have a perception that faster the service the better it is.

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Among marketers, there is a growing sense that opportunistic users of financial services overlap that
unbanked/underbanked and the banking industry’s traditional base. That is for those who have a bank account may
also be interested in using a wide range of non-financial services like prepaid cards and e-commerce payment channels.

We must know that what the term underbanked means- It is a characteristic describing people or organisation who
do not have sufficient access to mainstream financial services and products typically offered by retail banks and thus
often remain deprived of banking services such as credit cards or loans. Banking and financial institutions have a range
of products designed to meet the credit requirement of the customers, thriving on our need to spend more money to
supplement our lifestyles.

In the past, one could get a loan based on their personal standing in society, but today getting credit depends on more
than just the persona relationship one has organisation, as the credit scene is a bonafide business where lenders are
more concerned about making money than building strong personal bonds with customers. Today’s banks rely on the
CIBIL score of an individual to gauge him/her before offering credit card, making this score an indispensable asset in
this huge industry.

Our research focuses on the use of traditional and next generation financial services delivery channels to serve existing
customers and on-board prospective customers with payment products, lending, deposit accounts consumer credit,
financial wellness services and date security.

Understanding the wide scope of challenges presented to market participants, Axis bank provides strategic guidance
on practical understanding of payments and financial services and continuous review of product-centric and service
oriented approaches.

While banks are eager to build relationships with the unbanked and profit from their ATM withdrawals wire transfers
and POs transaction (purchase order), those efforts are undermined by the industry’s need to maximize fee income
from the populations least able to support it. For instance, while a bank may promote its inexpensive wire transfers
(electronic fund transfer from account to another) and offer credit cards to customers without social security numbers,
it will also try to maximize overdraft revenue gleaned from those customers. The populations banks are trying to woo
are the very groups that would be hardest hit by those accruing fees and overdraft events.

The main Dissonance factors-

 Overuse- revolving credit makes it easy to spend beyond your means.

 Paperwork- you will need to save your receipts and check them against your statement each month.

 High-cost fees- your purchase will suddenly become much more expensive if you carry a balance or miss a
payment.

 Unexpected fees- typically you will pay between 2 and 4 percent just to get the cash advance.

 No free lunch- The high interest rates and annual fees associated with credit cards.

 Deepening your debt- Consumers are using credit more than ever before.

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6 CHART ANALYSIS

The below shown charts shows the statistical analysis of the survey that was done within 30 respondents with 15
factors those may affect the overall growth of the company and its products.

6.1 GENDER

Figure 1: Gender Analysis

From the above data, we interpret that, from 30 respondents most of the respondents i.e. about 63.3% are male and
36.7% are the females who use Axis bank credit cards.

6.2 OCCUPATION

Occupation
4, 13% 5, 17%

Professional
Sefl Employee
Others

21, 70%

Figure 2: Occupation Analysis

From the above data, we interpret that, out of the total 30 respondents, 70% of the users who use Axis Bank credit
card holders are self-employed and 17% of the category are professionals.

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6.3 ANNUAL INCOME

Annual Income

6, 20%

Less than Rs. 2,00,000

13, 43% Rs. 2,00,000 - Rs. 5,00,000
Rs. 5,00,000 - Rs. 10,00,000
6, 20%
More than Rs. 10,00,000

5, 17%

Figure 3: Annual Income Analysis

From the above interpretation, we derive that out of the 30 respondents taken most of them had annual income less
than two lakhs.

6.4 USAGE PERIOD

How long have you been using credit card?

7, 23%
9, 30%
Less than 1 Year
1 - 2 Years
2 - 4 Years
4, 13%
More than 4 Years

10, 34%

Figure 4: Usage Period Analysis

Most credit card holders out of the above respondents have been using credit cards for more than 4 years.

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6.5 CUSTOMER SATISFACTION

Are you satisfied with the service provided by the AXIS

Bank?
4, 13%

Yes
No

26, 87%

Figure 5: Customer Satisfaction Analysis

Out the 30 respondents taken for survey 87%, i.e. 26 of them use credit cards and satisfied with the services.

6.6 WHY AXIS?

Why do you prefer AXIS Bank?

9, 30%

Brand Value
14, 47% Services
Both

7, 23%

Figure 6: Brand Analysis

From here, we derive that people prefer Axis Bank for its brand value as well as for its services.

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6.7 BRAND INFLUENCE ON CUSTOMER BASE

Figure 7: Customer Base Increment Analysis

Here we interpret that most of the people prefer Axis Bank for its brand value.

6.8 RECOMMENDATION

Figure 8: Recommendation Level Analysis

Yes, respondents would definitely recommend Axis Bank to others, as customers are very well impressed by its
services.

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6.9 SERVICE PREFERENCE

Which service of the AXIS Bank do you prefer the

most?
1, 3%

11, 37%
Manual Banking
Internet Banking
Both

18, 60%

Figure 9: Service Preference Analysis

From the above data, we interpret that, people find it more convenient in using Internet Banking as it is much more
easy to use.

6.10 EMPLOYEE’S KNOWLEDGE ABOUT THE PRODUCTS AND SERVICES

Figure 10: Employee’s Depth on Products Analysis

Most employees in the bank have good knowledge in products and services.

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6.11 PREFERRABLE PRODUCT

Which one would you prefer?

AXIS Bank Buzz Credit Card
3, 10%
8, 27% AXIS Bank My Choice Credit Card

AXIS Bank My Zone Credit Card

AXIS Bank Neo Credit Card

1, 3%
1, 3% AXIS Bank Platinum Credit Card
15, 50%
2, 7% AXIS Card Miles & More World Credit
Card

Figure 11: Preferable Product Analysis

Out of the various credit cards offered by Axis Bank, people usually prefer the Axis Bank Platinum Credit Card.

7 SPSS FACTOR ANALYSIS

FACTOR ANALYSIS:-

/VARIABLES: Gender Occupation Annual_Income Usage_Period Service_Satisfaction

Flexibility Prefer_Axis Brand_Influence Recommendation Service_Preference MAB
Staffs_Knowledge CC_Features CC_Preferences Interest_Comparision

/MISSING LISTWISE

/ANALYSIS: Gender Occupation Annual_Income Usage_Period Service_Satisfaction

Flexibility Prefer_Axis Brand_Influence Recommendation Service_Preference MAB
Staffs_Knowledge CC_Features CC_Preferences Interest_Comparision

/PRINT INITIAL EXTRACTION ROTATION

/CRITERIA MINEIGEN (1) ITERATE (25)

/EXTRACTION PC

/CRITERIA ITERATE (25)

/ROTATION VARIMAX

/METHOD=CORRELATION.

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7.1 COMMUNALITIES

Communalities
Initial Extraction
 Communalities shows the common variance shared
Gender 1.000 .674
by the factors with given variables for a particular
Occupation 1.000 .712
data set.
Annual_Income 1.000 .814
 Higher communality indicates that larger amount of
Usage_Period 1.000 .731
the variance in the variables are extracted by the
Service_Satisfaction 1.000 .785 factor analysis.
Flexibility 1.000 .671  For better measurement of factor analysis
Prefer_Axis 1.000 .842 communalities should be 0.5 or greater than that.
Brand_Influence 1.000 .760  From the Component Matrix we can interpret that,
Recommendation 1.000 .661 the observed factors are significant or not.
Service_Preference 1.000 .526  The extraction here has been done using Principal
MAB 1.000 .467 Component Analysis method.
Staffs_Knowledge 1.000 .884
 (−0.693)2 + (−0.338)2 + (0.268)2 + (0.023)2 +
(0.085)2 = 0.674
CC_Features 1.000 .502
CC_Preferences 1.000 .700
Interest_Comparision 1.000 .790
Extraction Method: Principal Component Analysis.

7.2 TOTAL VARIANCE

Total Variance Explained

Initial Eigenvalues Extraction Sums of Squared Loadings Rotation Sums of Squared Loadings
Componen % of Cumulative % of Cumulative % of Cumulative
t Total Variance % Total Variance % Total Variance %
1 3.277 21.850 21.850 3.277 21.850 21.850 2.916 19.439 19.439
2 2.304 15.361 37.211 2.304 15.361 37.211 2.163 14.418 33.857
3 2.082 13.877 51.088 2.082 13.877 51.088 2.095 13.965 47.822
4 1.515 10.102 61.191 1.515 10.102 61.191 1.789 11.929 59.751
5 1.342 8.944 70.135 1.342 8.944 70.135 1.558 10.384 70.135
6 .960 6.403 76.538
7 .790 5.263 81.801
8 .642 4.282 86.083
9 .593 3.954 90.036
10 .434 2.895 92.932
11 .354 2.357 95.289

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12 .250 1.664 96.953

13 .226 1.508 98.461
14 .148 .986 99.447
15 .083 .553 100.000
Extraction Method: Principal Component Analysis.

 As in the above analysis, the initial Eigen value has been taken as one. Therefore, all the extracted squared
values from the rotated component matrix of each component must be taken into consideration if having
more than the Eigen value, which will be counted as, extracted Eigen value.
 As only five components have been extracted, using Varimax with Kaiser Normalization method of 10
iterations so only 5 components will be considered as having significant relations with the factors.
𝐸𝑖𝑔𝑒𝑛 𝑉𝑎𝑙𝑢𝑒×100
 Likewise % of variance and % of cumulative can also be extracted as ( )
𝑁𝑜.𝑂𝑓 𝐹𝑎𝑐𝑡𝑜𝑟𝑠

7.3 COMPONENT MATRIX

Component Matrix
Component
1 2 3 4 5
Gender -.693 -.338 .268 .023 .085
Occupation -.116 -.573 .605 -.060 -.034
Annual_Income .812 .337 -.186 .069 .037
Usage_Period .748 .314 .128 .156 -.178
Service_Satisfaction -.338 .585 .498 .031 -.283
Flexibility -.308 .597 .153 -.381 .227
Prefer_Axis .673 -.236 .168 -.231 .501
Brand_Influence .469 .328 .336 .219 -.521
Recommendation -.267 .176 .724 .173 .069
Service_Preference .401 .028 .275 .204 .497
MAB .332 -.221 .419 .357 -.069
Staffs_Knowledge .542 -.646 .253 -.303 -.134
CC_Features .085 .467 .006 -.455 .264
CC_Preferences -.101 .240 .263 .518 .543
Interest_Comparision -.170 -.119 -.521 .684 .082
Extraction Method: Principal Component Analysis.
a. 5 components extracted.

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 AXIS BANK

7.4 COMPONENT TRANSFORMATION MATRIX

Component Transformation Matrix

Component 1 2 3 4 5
1 .843 .388 -.289 .104 .211
2 .445 -.506 .436 -.594 .048
3 -.099 .563 .737 .016 .361
4 .113 -.523 .193 .706 .423
5 -.264 -.049 -.383 -.371 .802
Extraction Method: Principal Component Analysis.
Rotation Method: Varimax with Kaiser Normalization.

7.5 ROTATED COMPONENT MATRIX

Rotated Component Matrix

Component
1 2 3 4 5
Gender -.781 .037 .223 .118 .012
Occupation -.410 .619 .231 .308 .113
Annual_Income .851 .002 -.225 -.083 .180
Usage_Period .822 .130 .113 .070 .142
Service_Satisfaction .004 -.149 .834 -.248 -.077
Flexibility -.112 -.148 .302 -.738 .039
Prefer_Axis .287 .572 -.410 -.136 .496
Brand_Influence .670 .117 .497 .208 -.090
Recommendation -.217 .121 .694 -.025 .341
Service_Preference .215 .165 -.053 -.011 .670
MAB .198 .294 .212 .450 .306
Staffs_Knowledge .145 .845 -.259 .280 -.061
CC_Features .158 .024 -.005 -.688 .062
CC_Preferences -.088 -.310 .220 .015 .740
Interest_Comparision -.089 -.661 -.286 .497 .126
Extraction Method: Principal Component Analysis.
Rotation Method: Varimax with Kaiser Normalization.
a. Rotation converged in 10 iterations.

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 AXIS BANK

 From the above rotated component matrix, for each of the components only the values having more than 0.5
will be taken into consideration. The highlighted values are the significant values, which will be considered
into significant components.
 So, considering the suggested factors into individual components the new segmentation could be possibly,
1. Component 1: Annual_Income @Brand Value
Usage_Period
Brand_Influence
2. Component 2: Occupation @Preferred Selection
Prefer_Axis
Staffs_Knowledge
3. Component 3: Service_Satisfaction @Customer Satisfaction
Recommendation
4. Component 4: Service_Preference @Product Portfolio
CC_Preferences
 Therefore, from the above segmentation we can interpret that the company should focus on these factors in
order to bring significant growth and profit in the market.

8 CONCLUSION

 As per the survey done by us and the data collected from the 30 respondents, we see that AXIS BANK is quite
a favourite bank to most of the people these days. This bank is one of the largest privately owned financial
institute in India. This was to know whether the customers are satisfied with their products and services, the
analysis was done from the data collected in the form of questionnaires.
 Hence the report says that most of the customers are self-employed and they are satisfied with the services
axis bank provides, most of the people find internet banking more useful than manual and also the brand has
a lot of play.
 We see that the use of credit cards are quite famous and widely used by people these days , most of the users
are either a platinum card holder or a buzz card holder.
 According to the study, we see that the behaviour of the employees at the bank and the knowledge of the
staff at the bank are highly praised. Almost all the respondents are happy with their services and wants to
recommend it to others and seeing the increase use of credits cards we can predict that now most customers
will apply for credit cards from axis bank as they give lot of benefits and privileges.

9 REFERENCES

[1] https://www.axisbank.com/products
[2] https://www.mbaskool.com/marketing-mix/services/16990-axis-bank.html
[3] https://en.wikipedia.org/wiki/Factor_analysis

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