Professional Documents
Culture Documents
Consumer Behavior and Customer Satisfaction With Reference To
Consumer Behavior and Customer Satisfaction With Reference To
BY
T. AROCKIYA STEPHENRAJ
(7NBCA044)
MBA
1
CERTIFICATE
By
2
DECLARATION
T. AROCKIYA STEPHENRAJ
(7NBCA044)
3
Acknowledgement
4
CONTENTS
Chapter 1
INTRODUCTION
OBJECTIVE
RESEARCH METHODOLOGY
Chapter II
INDUSTRY PROFILE
COMPANY PROFILE
Chapter III
SWOT ANALYSIS
Chapter IV
FINDINGS
SUGGESTIONS
Chapter V
CONCLUSION
5
BIBLIOGRAPHY
ANNEXURE
EXECUTIVE SUMMARY
The primary data is collected with the help of questionnaire framed by me and
meeting each and every ICICI customer and also getting their feedback as well as
the suggestions. From this detailed survey it is found that most of the customers are
satisfied with the service of the ICICI Bank. Consumer satisfaction surveys
measure and monitor the opinions and behaviors of your clients and customers.
The customer is always right…that is why it makes smart business sense to
regularly get feedback from your current clients and customers. An online
consumer satisfaction survey can accomplish this task easily and affordably.
6
Educational Institutions
Introducti
on
7
Introduction
8
where social life is structured in a way to improve social relationships with others
in the society (see Hofstede, 1980; Hall and Hall, 1987). Dissatisfied customers, on
the other hand, are likely to switch brands and engage in negative word of mouth
advertising.
Some other factors that may influence perceptions of banking service quality are
With years, banks are also adding services to their customers. The Indian banking
industry is passing through a phase of customers market. The customers have more
choices in choosing their banks. A competition has been established within the
banks operating in India.
10
With stiff competition and advancement of technology, the services provided by
banks have become more easy and convenient. The past days are witness to an
hour wait before withdrawing cash from accounts or a cheque from north of the
country being cleared in one month in the south.
This section of banking deals with the latest discovery in the banking instruments
along with the polished version of their old systems.
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Vision
Document
12
OBJECTIVES
LIMITATIONS
Though the study aims to achieve the above mentioned objectives it may
be hampered due to certain limitations.
They are,
Locating target customers for the survey.
Selection of customers.
Getting accurate response from the respondents due to personal
problems of the customers.
Customers may be partial or refuse to co-operate
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Research
&
Methodol
ogy
14
Research and methodology
A research design is purely and simply the framework of plan for a study
that guides the collection and analysis of data. It is a blue print that is followed in
completing a study.
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SAMPLING TECNIQUES
The approach where only few units of population under study are considered
for analysis is called sampling method. The sampling technique being used in the
study is random sampling.
SAMPLING SIZE:
The sample size that is taken for the preparation of the project report is a
total of 50, which is taken within Chennai city, which covers some part of both
North Chennai and South Chennai.
COLLECTION OF DATA
DATA SOURCE
The present study had used survey method or collecting the primary data by
distributing questionnaires to various respondents.
SECONDARY DATA
Secondary data is those data which has been collected already and
recorded, but not for the purpose of the project. It is available from internal and
external sources.
Information is obtained from the internal sources like published data of the
company has been collected.
RESEARCH INSTRUMENT
A well-structure questionnaire will use to collect the primary data from the
respondents. The respondents well have multiple choices to select their particular
answers.
Questionnaire Development
17
Questionnaire is the most common instrument in collecting primary. In
order to gather primary data from viewers; the questionnaire consists of following
types of questions.
Ranking question.
Closed ended questions have no other options other than the selecting the
Dichotomous Questions
Multiple Questions
The statistical tools used to analyses the primary data in this present study:
Tabulation method
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Percentage analysis
Charts
TABULATION
PERCENTAGE ANALYSES
=d/n*100 Where
CHARTS
Pi-chart
19
Percentage method
Review of literature
20
expectations and disconfirmation (Churchill and Surprenant, 1982; Peter and
Olson, 1996).
According to Peter and Olson (1996), "prepurchase expectations are beliefs
about anticipated performance of the product; disconfirmation refers to the
differences between prepurchase expectations and post-purchase
perceptions" (p.509).
In an earlier study, Churchill and Surprenant (1982) reported that
disconfirmation positively affected satisfaction. That is, when subjects
perceived the product performing better than expected, they were more
satisfied (Churchill and Surprenant, 1982).
Further empirical research supports the notion that satisfaction is caused by
expectations and requires considerable cognitive effort on the part of
customers (Bearden and Teel, 1983; Moutinho and Goode, 1995; Cadotte et
al., 1987).
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Customers, however, make inferences about the service quality on the basis
of tangibles (the buildings, the physical layout etc.) that surround the service
environment. Support for this argument...
Industry
Profile
24
Industry profile
Banks in India
In India the banks are being segregated in different groups. Each group has their
own benefits and limitations in operating in India. Each has their own dedicated
target market. Few of them only work in rural sector while others in both rural as
well as urban. Many even are only catering in cities. Some are of Indian origin and
some are foreign players.
The banks and its relation with the customers, their mode of operation, the names
of banks under different groups and other such useful informations are talked
about.
One more section has been taken note of is the upcoming foreign banks in India.
The RBI has shown certain interest to involve more of foreign banks than the
existing one recently. This step has paved a way for few more foreign banks to start
business in India.
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The first bank in India, though conservative, was established in 1786. From 1786
till today, the journey of Indian Banking System can be segregated into three
distinct phases.
Originated in the first decade of 18th century with The General Bank of India
coming into existence in 1786. This was followed by Bank of Hindustan. Both
these banks are now defunct. The oldest bank in existence in India is the State
Bank of India being established as "The Bank of Bengal" in Calcutta in June 1806.
A couple of decades later, foreign banks like Credit Lyonnais started their Calcutta
operations in the 1850s. At that point of time, Calcutta was the most active trading
port, mainly due to the trade of the British Empire, and due to which banking
activity took roots there and prospered.
The first fully Indian owned bank was the Allahabad Bank, which was established
in 1865. By the 1900s, the market expanded with the establishment of banks such
as Punjab National Bank, in 1895 in Lahore and Bank of India, in 1906, in
Mumbai - both of which were founded under private ownership. The Reserve Bank
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of India formally took on the responsibility of regulating the Indian banking sector
from 1935. After India's independence in 1947, the Reserve Bank was nationalized
and given broader powers.
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Company
Profile
28
Company profile
History
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial
institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI
Bank was reduced to 46% through a public offering of shares in India in fiscal
1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000,
ICICI Bank's acquisition of Bank of Madura Limited in an all-stock amalgamation
in fiscal 2001, and secondary market sales by ICICI to institutional investors in
fiscal 2001 and fiscal 2002.
ICICI was formed in 1955 at the initiative of the World Bank, the Government of
India and representatives of Indian industry. The principal objective was to create a
development financial institution for providing medium-term and long-term project
financing to Indian businesses. In the 1990s, ICICI transformed its business from a
development financial institution offering only project finance to a diversified
financial services group offering a wide variety of products and services
In 1999, ICICI become the first Indian company and the first bank or financial
29
institution from non-Japan Asia to be listed on the NYSE. After consideration of
various corporate structuring alternatives in the context of the emerging
competitive scenario in the Indian banking industry, and the move towards
universal banking, the managements of ICICI and ICICI Bank formed the view that
the merger of ICICI with ICICI Bank would be the optimal strategic alternative for
both entities, and would create the optimal legal structure for the ICICI group's
universal banking strategy.
The merger would enhance value for ICICI shareholders through the merged
entity's access to low-cost deposits, greater opportunities for earning fee-based
income and the ability to participate in the payments system and provide
transaction-banking services. The merger would enhance value for ICICI Bank
shareholders through a large capital base and scale of operations, seamless access
to ICICI's strong corporate relationships built up over five decades, entry into new
business segments, higher market share in various business segments, particularly
fee-based services, and access to the vast talent pool of ICICI and its subsidiaries.
In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the
merger of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI
Personal Financial Services Limited and ICICI Capital Services Limited, with
ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank in
January 2002, by the High Court of Gujarat at Ahmedabad in March 2002, and by
the High Court of Judicature at Mumbai and the Reserve Bank of India in April
2002.
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OVERVIEW OF THE COMPANY
ICICI Bank is India's second-largest bank with total assets of Rs. 3,997.95 billion
(US$ 100 billion) at March 31, 2008 and profit after tax of Rs. 41.58 billion for the
year ended March 31, 2008. ICICI Bank is second amongst all the companies listed
on the Indian stock exchanges in terms of free float market capitalization*.
The Bank has a network of about 1,308 branches and 3,950 ATMs in India and
presence in 18 countries. ICICI Bank offers a wide range of banking products and
financial services to corporate and retail customers through a variety of delivery
channels and through its specialized subsidiaries and affiliates in the areas of
investment banking, life and non-life insurance, venture capital and asset
management.
The Bank currently has subsidiaries in the United Kingdom, Russia and Canada,
branches in Unites States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and
Dubai International Finance Centre and representative offices in United Arab
Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our
UK subsidiary has established branches in Belgium and Germany.
ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the
National Stock Exchange of India Limited and its American Depositary Receipts
(ADRs) are listed on the New York Stock Exchange (NYSE).
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Awards & Recognitions
ICICI Bank
2008
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Asian Banker Leadership Achievement Award" for the
Asia Pacific and Gulf Region 2007
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ICICI Bank competitors
Andhra Bank
Bank of Baroda
Bank of India
Bank of Maharastra
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
Indian Bank
Indian Overseas Bank
Oriental Bank of Commerce
Punjab & Sind Bank
Punjab National Bank
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank
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List of State Bank of India and its subsidiary, a Public Sector Banks
State Bank of India
Private banking in India was practiced since the begining of banking system in
India. The first private bank in India to be set up in Private Sector Banks in India
was IndusInd Bank. It is one of the fastest growing Bank Private Sector Banks in
India. IDBI ranks the tength largest development bank in the world as Private
Banks in India and has promoted a world class institutions in India.
The first Private Bank in India to receive an in principle approval from the Reserve
Bank of India was Housing Development Finance Corporation Limited, to set up a
bank in the private sector banks in India as part of the RBI's liberalisation of the
Indian Banking Industry. It was incorporated in August 1994 as HDFC Bank
Limited with registered office in Mumbai and commenced operations as Scheduled
Commercial Bank in January 1995.
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ING Vysya, yet another Private Bank of India was incorporated in the year 1930.
Bangalore has a pride of place for having the first branch inception in the year
1934. With successive years of patronage and constantly setting new standards in
banking, ING Vysya Bank has many credits to its account.
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ICICI Bank services
Personal banking
Deposits
ICICI Bank offers wide variety of Deposit Products to suit customer
requirements. Convenience of networked branches/ ATMs and facility of E-
channels like Internet and Mobile Banking, customer can select any of the
deposit products.
Savings Account
We understand that a Savings Account needs to do more after you reach the
age of seniority; we understand your concerns for safety and security. We
have an ideal Savings Bank Service for those who are 60 years and above.
The Senior Citizen Services from ICICI Bank has several advantages that
are tailored to bring more convenience and enjoyment in your life.
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Young Stars Savings Account
It's really important to help children learn the value of finances and
money management at an early age. Banking is a serious business, but
we make banking a pleasure and at the same time fun. Children learn
how to manage their personal finances.
Fixed Deposits
Recurring Deposits
When expenses are high, you may not have adequate funds to make big
investments. An ICICI Bank Recurring Deposit lets you invest small
amounts of money every month that ends up with a large saving on
maturity. So you enjoy twin advantages- affordability and higher
earnings.
Loans
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Home Loans
The No. 1 Home Loans Provider in the country, ICICI Bank Home
Loans offers some unbeatable benefits to its customers - Doorstep
Service, Simplified Documentation and Guidance throughout the
Process.
Personal Loans
ICICI Bank Personal Loans are easy to get and absolutely hassle free.
With minimum documentation you can now secure a loan for an amount
up to Rs. 15 lakhs.
Car Loans
The No. 1 financier for car loans in the country. Network of more than
2500 channel partners in over 1000 locations. Tie-ups with all leading
automobile manufacturers to ensure the best deals. Flexible schemes &
quick processing.
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Farm Equipment Loans
Preferred financier for almost all leading tractor manufacturers in the
country. Flexible repayment options in tandem with the farmer's seasonal
liquidity. Monthly, Quarterly and Half-yearly repayment patterns to
choose from. Comfortable repayment tenures from 1 year to 9 years.
Cards
Credit Cards
Credit Cards give you a smart way to shop, and offer you flexibility and
convenience in managing your finances. ICICI Bank credit cards
provide a host of exciting offers and benefits such as low interest rates,
rewards programs, and a high credit and cash limit.
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Travel Cards
Presenting ICICI Bank Travel Card. The Hassle Free way to Travel the
world. Traveling with US Dollar, Euro, Pound Sterling or Swiss Francs;
Looking for security and convenience; take ICICI Bank Travel Card.
Issued in duplicate. Offers the Pin based security. Has the convenience of
usage of Credit or Debit card.
Debit Card
The ICICI Bank Debit Card is a revolutionary form of cash that allows
customers to access their bank account around the clock, around the
world. The ICICI Bank Debit Card can be used for shopping at more than
3.5 Lakh merchants in India and 24 million merchants worldwide.
Commercial Cards
ICICI Bank Commercial Cards have been designed as payment solutions
for large & mid-sized organizations. A widely accepted concept
internationally, Commercial Cards help to better streamline payment
processes & thus increase efficiencies.
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ICICI Bank facilitates following investment products:
You can invest in above products through any of our branches. For select products
ICICI Bank also provides the ease of investing through electronic channels like
ATMs and Internet (ICICIdirect.com)
Demat Services
ICICI Bank Demat Services boasts of an ever-growing customer base of over 11.5 lacs
account holders. In our continuous endeavor to offer best of the class services to our customers
we offer the following features:
e-Instructions:
You can transfer securities 24 hours a day, 7 days a week through Internet &
Interactive Voice Response (IVR) at a lower cost. Now with "Speak to transfer",
you can also transfer or pledge instructions through our customer care officer.
Dematerialise your physical shares in various holding patterns and consolidate all
such scattered holdings into your primary demat account at reduced cost.
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Digitally Signed Statement:
Mobile Request:
Mobile Alerts:
Receive SMS alerts for all debits/credits as well as for any request which cannot be
processed.
Dedicated customer care executives specially trained at our call centre, to handle
all your queries.
Countrywide network of over 235 branches, you are never far from an ICICI
Bank Demat Services outlet.
Online tax
Tax payments need not be taxing In today's intensely busy business world, every
minute is precious. In this scenario, tax paperwork can be a tedious process.
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ICICI Bank with its technology driven banking gives you a better option - Online
Tax.
• Cut down on your paper work and simplify the process.
• Get an MIS link that shows you a record of all past payments made along with
the payment status, as well as challan details.
• Also receive an immediate acknowledgment of your challan
Online.
• You can easily view, download and print the acknowledged copy
of the challan using the MIS option.
Mobile banking
ICICI Bank launches iMobile
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The application covers
Savings bank,
Demat,
Credit Card and
Loan accounts.
Customers can also pay their utility bills and insurance premium through this
facility. ICICI Bank offers this facility free of charge to customers. Customers
having GPRS facility on their mobile phones can directly download this
Internet banking
Banking Features
Transaction History
Check out past transactions from the date of account opening.
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Card-2-Card Fund Transfer*
Send money to over 27 million Visa Debit Cardholders or Credit Cardholders
across 150 cities in India.
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Request a Cheque Book
The cheque book is delivered to your communication address upon request.
Secure Mailbox
Write to Account Manager to resolve any queries regarding your ICICI Bank
relationships.
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Analysis
&
Interpreta
tion
48
Analysis of data
TABLE NO: 1
SI AWARENESS NO OF PERSENTAGE
NO ABOUT RESPONDENT %
ICICI BANK
1 50 100%
YES
2 NO 0 0%
49
Inference
From the above table, it indicates that
2. Are you aware that ICICI carries out the following business
TABLE NO 2:
SECTORVISE ANALYSIS
Table No 2a:
1 32 64%
YES
2 NO 18 36%
Inference
50
From the above table, it indicates that
Table No 2b:
2 NO 34 68%
Inference
51
Table No 2c:
Table showing the awareness about ICICI Ventures
1 24 48%
YES
2 NO 26 52%
Inference
52
Table No 2d:
1 38 76%
YES
2 NO 12 24%
Inference
53
Table No 2e:
1 46 92%
YES
2 NO 4 8%
Inference
54
Table No 2f:
Table showing the awareness about ICICI prudential AMC & Trust
1 18 36%
YES
2 NO 32 64%
Inference
55
The pie chart showing ICICI Business known by the customer
56
3. Do you have Account in ICICI Bank
TABLE NO 3:
14 28%
2 NO
Inference
57
72% of people having account in ICICI bank
28% of people don’t have account in ICICI bank
4. What made you to open an Account in ICICI Bank (on the basis priorities)
TABLE NO 4:
SI INFLUENCES OF NO OF PERSENTAGE
NO CUSTOMER RESPONDENT %
1 Magazine - -
2 Television 8%
4
3 Friends 10 20%
4 Relatives 12 24%
58
5 Corporates 8 16%
Inference
59
5. Are you aware that ICICI Bank offers the following services
Table: 5a
Table showing ICICI bank services through personal banking
SI Personal NO OF NO OF Ratio
NO Banking RESPONDE RESPONDE
NT YES NT NO
1
Deposits,
50 - 50:0
Loans, Cards
2 Investments/
Insurance, 40 10 4:1
Demat services
Inference
60
100% of people are aware of services like Deposits, Loans, Cards of ICICI
bank
80% of people are aware of services like Investments, Insurance, Demat
services of ICICI bank
Table: 5b
Table showing ICICI bank services through NRI banking
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SI NRI Banking NO OF NO OF Ratio
NO RESPONDENT RESPONDEN
YES T NO
1
Money Transfer,
42 8 21:4
Bank accounts
2 Investments,
Insurance, Loans 34 16 17:8
Inference
84% of people are aware of services like Money transfer and bank account
for NRI customers of ICICI bank
16% of people are unaware of services like Money transfer and bank
account for NRI customers of ICICI bank
68% of people are aware of services like Investments, Insurance and Loans
for NRI customers of ICICI bank
62
Table: 3c
Table showing ICICI bank services through Business banking
SI Business NO OF NO OF Ratio
NO Banking RESPONDENT RESPONDENT
YES NO
1
Corporate Net
32 18 16:9
Banking,
Custodial
Services
2 SME Services,
Online Taxes, 22 28 11:14
Trade Services
Inference
63
From the above table, it indicates that
64% of people are aware of services like Corporate net banking and
Custodial services of ICICI bank
36% of people are unaware of services like Corporate net banking and
Custodial services of ICICI bank
44% of people are aware of services like SME services, Online taxes and
Trade services of ICICI bank
56% of people are unaware of services like SME services, Online taxes and
Trade services of ICICI bank
6. What is your opinion about the Banking services of ICICI Bank in terms of
quality of services
64
Table: 6
65
Diagram shows satisfaction level from Internet & mobile banking
66
7. What is your opinion about minimum balance to be maintained in bank
account
SI MINIMUM NO OF PERSENTAGE
NO BALANCE TO BE RESPONDENT %
MAINTAINED
2 High 40%
20
3 Moderate 8 16%
4 Low 4 8%
Inference
67
40% of people saying minimum balance to be maintained in bank account is
high
8. If it is ICICI Bank which of the following features insist you to open Bank
account in ICICI Bank
SI INFLUENCES TO NO OF PERSENTAGE
NO OPEN ACCOUNT RESPONDENT %
1 Services 15 60%
2 Interest 2 8%
3 Minimum 4 16%
Balance
Inference
68
From the above table, it indicates that
60% of people saying ICICI bank services influences them to have account
in ICICI bank
8% of people saying ICICI bank interest rate influences them to have
account in ICICI bank
69
SI SATISFACTION NO OF PERSENTAGE
NO LEVEL RESPONDENT %
1 High Satisfied 2 4%
2 Satisfied 40 80%
3 Dissatisfied 4 8%
4 Highly 2 4%
Dissatisfied
Inference
SI RECOMENDING TO NO OF PERSENT
NO OTHERS RESPONDENT AGE %
1 Excellent 4 8%
2 Good 44%
22
3 Fair 20 40%
4 Very Bad 4
8%
Chart shows % of customers recommend to other people to
have account in ICICI bank
71
11. In the basis of Rating – scale how will you rate the following
(1 to 5, 1 is very poor and 5 is excellent)
72
12. Would you like to add any of the features to the services and make any
changes in the interest rate
SI SUGGESTION NO OF PERSENTAGE
NO TO ADD MORE RESPONDENT %
FEATURES IN
THE SERVICES
1 YES 36 72%
2 NO 12 24%
73
Diagram showing suggestion from customers to add more features
in the service
Inference
13. Would you like to suggest establish few more ATM services in the city
74
SI SUGGESTIONS NO OF PERSENTAGE
NO FOR MORE RESPONDENT %
ATM CENTRES
1 44 88%
YES
6 12%
2 NO
75
Data Analysis and Interpretation
SI VARIABLES MAX. MAX.
NO POSITIVE % NEGATIVE %
RESPONDENT RESPONDENT
Q2 Awareness about 92 68
ICICI brand
Q3 Account operating 72 28
Q4 Influences from 24 92
media to operate a/c
Q5 Awareness of 100 28
product
Q7 Suggestion on 16 40
minimum balance
Q8 Product features 60 92
Q9 Brand image 80 8
perception
Q13 Suggestion to 88 12
expand capacity
76
77
Ranking the Response
Inference
From the above table we can find customer gave their more negative
response on Q4 (Influences from media to operate a/c), Q8 (product features), Q2
(Brand awareness) and Q11 (Quality of service). So the ICICI bank has to focus
more attention on the following areas creating awareness about their business and
its service features through media it helps the bank to attract and retain more
customers.
78
Where as p = 62.62% 0.62
p : q = 0.62 : 0.34
Inference
79
SWOT
Analysis
SWOT Analysis
80
SWOT analysis is done for a company, to find out its overall Strengths,
Weaknesses, Threats and opportunities leading to gauging the competitive potential
of the company. The SWOT Analysis enables a company to recognize its market
standing and adopt strategies accordingly. Here SWOT analysis of ICICI bank is
made to understand the positioning of the bank better:
STRENGTHS
1. BRAND NAME: ICICI Bank has earned a reputation in the market for
extending quality services to the market vis-à-vis its competitors. It has earned a
strong Brand name in banking in a very short span of time.
2. MARKET SHARE: ICICI Bank has the largest market share of 34% in the IT &
ITES industry in Hyderabad according to our survey.
3. HUGE NETWORK: ICICI Bank has the highest number of linked branches in
the country. The bank operates through a network of 450 BRANCHES AND over
1800 ATMs across India, thus enabling them to serve customer in better way.
4. DIVERSIFIED PORTFOLIO: ICICI Bank has all the products under its belt,
which help it to extend the relationship with existing customer. ICICI Bank has
umbrella of products to offer their customers, if once customer has relationship
with the bank.
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Merchant Establishment Services (EDC Machine)
Personal loans & Car loans
Demat Services with E-Broking
Mutual Fund (ICICI Bank is the Distributor of all Mutual Fund)
Insurance
Loans
5. SALARY ACCOUNT: One very interesting thing that we have observed in our
survey is that ICICI is having an edge over other banks in case of Salary Account.
Most of the companies are having their Salary Account with ICICI even if their
Current Account is with any other Bank. This is mainly because of the huge
network of ATMs and branches of ICICI.
6. WORKING HOURS: ICICI is the only bank which is having its working hours
from 8 to 8 which is one of the major strength of ICICI Bank with respect to IT &
ITES Industry. As most of the IT & ITES companies are global players and their
Parent company is in US, so they have to work according to their office time. Thus
some have their Office time in the morning and some have it in the evening so if
the working hour of the bank is 8 to 8 it is very convenient for them.
82
9. TECHNOLOGY: From its inception, ICICI Bank has adopted a policy of
selecting internationally proven and specialized Packaged Systems for its
technology. ICICI bank’s technology platform has been acknowledged globally as
one of the best in terms of robustness, flexibility and cost efficiency. ICICI Bank is
in a position to leverage this platform to further build cost and service advantage.
WEAKNESS
1. TRANSACTION COST: ICICI Bank charges high cost for its transactions.
Through our data analysis we have find out that most of the small companies
prefer nationalized banks only because of this cost factor. Also the group has found
out that there are companies which are going for multi bank system i.e. they are
using only those facilities of ICICI Bank which are provided at cheaper rates (read
Salary Account) and for other services they are going to nationalize banks and
MNCs (read Forex).
2. FOCUS ONLY ON HIGH END CUSTOMERS: The bank targets only the top
bracket of clients and does not cater to the needs of small customers. Due to this
reason the bank may sometimes loose good clients.
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4. LITTLE PRESENCE OUTSIDE INDIA: ICICI Bank is having little presence
Outside India, because of which companies are preferring MNC Bank, mainly
Citibank. So if ICICI Bank tries to emerge outside India then it has a huge potential
of customers.
OPPORTUNITIES
1. NEW IT & ITES COMPANIES: IT & ITES sector is on a boom in the Indian
market context, with new companies mushrooming in the market; it opens the door
for ICICI bank to capture the huge untapped market.
2. Dissatisfied Customers of Other Banks: The groups from its survey and analysis
of IT companies have found out that there are many companies which are not
satisfied with its current bank, so ICICI with its superior service quality and long
working hours can capture those customers.
3. Remittances: From the analysis group has also found out that ICICI bank has
very little presence as far as the EEFC account is concerned.
Companies prefer to bank with MNCs (which have greater presence in the foreign
countries) and nationalized banks (which according to the companies provide
lower transaction rates) to get their inward remittances in spite of ICICI being
84
providing one of the most competitive rates. So the bank can promote its EEFC
account better and get the key to the door of huge potential market.
4. Business advising for smaller Players: The analysis has also indicated that the
concept of business advising though very popular with the higher end players is
virtually non existent in the lower end of the market. ICICI should take this
opportunity to provide business advising to the smaller companies at competitive
rates and try to take the first mover advantage.
THREATS
1) Advent of MNC banks: Large numbers of MNC banks are mushrooming in the
Indian market due to the friendly policies adopted by the government. This can
increase the level of competition and prove a potential threat for the market share
of ICICI bank.
3) Ever improving nationalized banks: With PSU banks like SBI going all out to
compete with the private banks and government giving them a free hand to do so,
it can prove to be serious threat for banks like ICICI.
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Findings
Findings
86
All the respondents are aware of ICICI bank
ICICI bank.
Most of the customers are suggest to establish more ATM centre’s in the
city
87
Suggestio
ns
88
Causes identified for customer Suggestions for improvement
dissatisfaction
89
I. ICICI offer services in through
different segment this not aware
among people. So it has to
I. Most of the people are not aware advertise its banking services
of ICICI bank services other than through different channel like
personal banking News paper, Business Magazines,
Television and through satisfying
existing customers.
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Conclusion
s
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Conclusion
From this study I concluded that customers and bank employees played an
important role in improving service quality. Even though the bank account is
necessary for every individual and family to save their income but they are not
willing to have account with lower interest rate for their deposits. Many banks
offer various services and giving more interest for customer deposits. So ICICI
bank has to offer various banking services and giving high interest rate for
customer deposits. Customer relationship Management is a potent tool, which
helps to tract down the changing customer’s profiles, builds on this information to
get the necessary quality services and add value to the individual customer.
Today’s customers are global and high degree of need for cognition, recognition,
approvals and respect. They prefer marketers who can give quality services.
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2. Expanding the existing ATM capacity
3. Restructuring the transaction requirements, facilitating the
customer for minimum bank balance and interest rate
4. Training and development on products and operations
5. Improvement of existing complaints handling system and has to be
made effective
The following diagram will help the bank to know what customer wants
and they can provide service in better ways
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Bibli0grap
hy
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Bibliography
a) www.icicibank.com
b) www.businessworld.in
c) www.wikipedia.org
d) www.google.com
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h) Business research methods (ICFAI publication)
Annexure
97
“An Analytical study on the consumer behavior and customer
satisfaction with reference to
ICICI BANK SERVICES”
Questionnaire
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2. Are you aware that ICICI carries out the following business
I. ICICI securities a) Yes b) No
II. ICICI securities primary dealership a) Yes b) No
III. ICICI ventures a) Yes b) No
IV. ICICI Lombard general insurance a) Yes b) No
V. ICICI prudential life insurance a) Yes b) No
VI. ICICI prudential AMC & Trust a) Yes b) No
5. Are you aware that ICICI Bank offers the following services
Table-1
Personal Banking Yes No
Deposits, Loans, Cards
Investments/ Insurance, Demat services
Table-2
NRI Banking Yes No
Money Transfer, Bank accounts
Investments, Insurance, Loans
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Table-3
Business Banking Yes No
Corporate Net Banking, Custodial Services
SME Services, Online Taxes, Trade Services
6. What is your opinion about the Banking services of ICICI Bank in terms
of quality of services
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10. Would you like to add any of the features to the services and make any
changes in the interest rate
a) Yes b) No
12. In the basis of Rating – scale how will you rate the following
(1 to 5, 1 is very poor and 5 is excellent)
Services Rating
Time spent & Courtesy response from the bank
Emergency withdrawal, ATM services, Working time
13. Would you like to suggest establish few more ATM services in the city
a) Yes b) No
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