Comprehensive Project Report

On
Study on Preference of Customers for
Various Financial Product
Submitted to
Institute Code: 701
Ahmedabad Institute of Technology
Under the Guidance of
Prof. Tripti Sharma
Assistant Professor

In partial Fulfillment of the Requirement of the award of degree of

Master of Business Administration (M.B.A.)
Offered By
Gujarat Technological University
Ahmedabad
Prepared by:
UPADHYAY AANAL UJESHKUMAR 217010592010
DOSHI AAYUSH ATULKUMAR 217010592061

MBA (Semester – IV)

Month & Year :-
April, 2023
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We, hereby declare that the Comprehensive Project Report titled “Study of
Preference of Customers for Various Financial Products” is a result of our own work
and our indebtedness to other work publications, references, if any, have been duly
acknowledged. If we are found guilty of copying from any other report or published
information and showing as our original work, or extending plagiarism limit, we
understand that we shall be liable and punishable by the university, which may include
‘Fail’ in the CP examination or any other punishment that university may decide.

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217010592010 Upadhyay Aanal Ujeshkumar

217010592061 Doshi Aayush Atulkumar

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INSTITUTE OF TECHNOLOGY - 701.

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Preference of Customers for Various Financial Product was carried out by
DOSHI AAYUSH ATULKUMAR -217010592061 of AHMEDABAD
INSTITUTE OF TECHNOLOGY - 701.

The report is approved / not approved.

Comments of External Examiner:

This report is for the partial fulfilment of the requirement of the award of the degree
of Master of Business Administration (Part-time) offered by Gujarat Technological
University.

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PREFACE
Understanding client preferences for various financial products is critical for
businesses and institutions in today's fast-paced and ever-changing financial world.
The capacity to anticipate and address the requirements of customers is critical for
long-term success and growth in the financial sector. This extensive study tries to
delve into the complex realm of client preferences and their impact on the purchase
and use of financial goods.

This project will take a multi-faceted approach, incorporating both quantitative and
qualitative research methods, to achieve our goal. We will collect data through
surveys, interviews, and analysis of existing market research. By combining these
methods, we aim to capture a holistic understanding of customer preferences, taking
into account individual demographics, socioeconomic factors, risk tolerance,
investment goals, and personal values.

We will investigate a wide range of financial products, including but not limited to
banking services, investment options, insurance policies, retirement plans, and credit
facilities, in order to identify common trends and patterns that shed light on broader
consumer behaviors and preferences in the financial realm.

We would like to express our gratitude to all the participants, researchers, and experts
who have contributed their time, knowledge, and expertise to make this project
possible. Without their support, this endeavor would not have been feasible.

Now, let us embark on this journey of exploration into the fascinating world of
customer preferences for various financial products.
 AKNOWLEDGEMENT
Completing a complete research on customer preferences for various financial
products is no easy task, and I would like to convey my heartfelt appreciation to all of
the persons and organizations who have supported and contributed to the successful
completion of this work.

First and foremost, I'd want to express my heartfelt gratitude to all of the participants
in this research endeavor. Their willingness to share their thoughts, experiences, and
preferences shaped the insights and conclusions given in this study. This project
would not have been possible without their invaluable contributions.

I'd like to thank my supervisor and advisers for their direction, support, and
knowledge throughout the course of this project. Their experience, insight, and
constructive input were important in establishing the direction and scope of our
research. Their steadfast dedication to academic performance and mentorship has
greatly inspired.

I would also want to thank the financial industry experts and professionals who
contributed useful thoughts and viewpoints. Their eagerness to share their knowledge
and participate in intelligent debates has improved this initiative and brought a
practical dimension to the research.

I want to express my gratitude to everyone of my friends and coworkers who helped

me with this project by offering advice, motivation, and supportive conversation.
Their enthusiasm and constructive feedback have been an ongoing source of
motivation and inspiration.

Last but not least, I want to thank my family for their constant love, understanding,
and support during this process. Their faith in me and ongoing encouragement have
been the driving forces behind my endurance and dedication.
 SUBJECTINDEX
Page
Sr. No. Particulars
No.
TITLE PAGE
STUDENT’S DECLARATION
PLAGARISM REPORT
INSTITUTE CERTIFICATE
CERTIFICATE OF EXAMINER
PREFACE
AKNOWLEDGMENT
SUBJECT INDEX
01 INTRODUCTION 01
Introduction of Financial Products 01
Meaning of Financial Products 01
Functions of Financial Products 03
Types of Financial Products 04
Advantages of Financial Products 06
Disadvantages of Financial Products 07

02 LITRATURE REVIEWS 09

03 RESEARCH METHODOLOGY 21
Problem Statement 21
Research Objectives 21
Scope of Study 21
Research Design 21
Source of Data 22
 Sample Design 22
Research Hypotheses 22

04 DATA COLLECTION &DATA ANALYSIS 23

Data Collection 23
Data Analysis 36

05 FINDINGS AND CONCLUSION 40

06 REFERENCES 41

07 ANNEXURE 43
 Chapter – 1
INTRODUCTION

 Introduction of financial products:

Finance is the key input of an economy. It is appropriate to refer to it as the "science

of money." Funds are vital for the creation and dissemination of products and services,
and the viability of creation and promoting activities straightforwardly really relies on
how well finance workers complete the enterprise's financial job.

In light of the specialized attributes that each financial product has, a few kinds of
financial product are made. The grouping and classification of financial items might
be finished in various ways, in light of the qualities of those things that are relevant to
your current advantages.

In a word, financial products are contracts that are purchased and sold in a market.
This is a genuinely expansive significance because of the assortment and intricacy of
financial items, frequently known as "financial vehicles".

The essential way of thinking behind a financial product is that it empowers you to
change your government issued money into something that can be traded for different
goods and services on a market. There are a few classifications that financial products
could fall under.

 Meaning of financial product:

A financial product is a tool that empowers an individual to invest money (for

instance, via shares), borrow money (through credit cards, loans, or bonds), or save
money (through term deposits).

Consumers can choose from a wide range of financial products, each having a unique
set of characteristics and advantages. Coming up next are the absolute most forms of
financial products:

1. Savings Accounts: A savings account is a straightforward financial product

that permits individuals to deposit money and procure revenue on it. It
provides a secure location for monies to be stored while also making
withdrawals simple.

2. Checking Accounts: A checking account is a type of transactional account that

allows people to manage their daily financial operations. It enables for
 frequent deposits, withdrawals, and check issuance, as well as amenities such
as internet banking and debit cards.

3. Certificates of Deposit (CDs): CDs are time deposits issued by banks in which
consumers deposit a set amount of money for a set length of time, which can
range from a few months to several years. In exchange for keeping the cash
locked up for the agreed duration, they offer higher interest rates than savings
accounts.

4. Money Market Accounts: Like savings accounts, money market accounts

often provide greater interest rates. They combine the benefits of both savings
and checking accounts, offering limited check-writing capabilities but
requiring larger minimum balances.

5. Mutual Funds: Mutual funds pool funds from several individuals to make
investments in a diverse portfolio of stocks, bonds, and other securities. They
are managed by professional fund managers and provide investors with the
chance to participate in a diverse investment portfolio with relatively small
investment amounts.

6. Stocks: Stocks, also known as equities or shares, signify ownership in a

corporation. When you purchase stock, you become a shareholder and can
participate in the company's growth and profitability. Stock investments
provide both the potential for capital appreciation and the danger of loss.

7. Bonds: Bonds are fixed-income securities issued by governments,

municipalities, and companies to borrow money from investors. When you
purchase a bond, you are lending money to the issuer in exchange for regular
interest payments and the return of the principal amount at maturity.

8. Exchange-Traded Funds (ETFs): ETFs are investment funds that trade on

stock exchanges in the same way as individual equities do. They seek to
mirror the performance of a given index, sector, commodity, or asset class.
ETFs provide diversification and flexibility by allowing investors to purchase
and sell shares throughout the trading day.

9. Options: Options are financial derivatives that give the holder the option, but
not the duty, to purchase or dispose of the underlying asset at a certain price
within a predetermined time frame. They are frequently utilized for hedging,
speculating, and revenue generating.

10. Insurance goods: Insurance goods protect against potential financial losses or
unforeseeable disasters. Among these are life insurance, health insurance,
automotive insurance, property insurance, and various types of liability
insurance. These products provide peace of mind by transferring risk to an
insurance company in exchange for monthly premium payments.
 These are only a few examples of the numerous financial products on the market.
When selecting and using these products, you should carefully examine your financial
goals, risk tolerance, and seek professional guidance.

 Functions of Financial Products:

1. Price discovery:
The financial market makes it easier to determine the prices of the numerous financial
securities that are traded. The underlying principle is an expression of the
fundamental economic concept of demand and supply, which aids in determining
what the market is prepared to pay for a specific financial instrument. As a result, the
financial market is the platform where the prices of financial securities are
established, whether they are newly issued or existing financial assets.

2. Funds mobilization:
The anticipated return on investment by investors, which is set by participants in the
financial market, is another crucial element for capital allocation. Companies looking
for funding must be aware of the required rate because it is a crucial factor in raising
capital. As an outcome, the financial market chooses how to convey accessible
resources from investors to businesses or individuals that need money to satisfy their
financial demands.

3. Liquidity:
Without a trace of a controlled financial market, investors will not be able to execute,
which will drive them to clutch financial securities or instruments until a liquidity
event happens. With regards to obligation instruments, the liquidity event happens
when the backer is legitimately expected to make payment at maturity.In the case of
equity instruments, the liquidity event occurs when the company is liquidated, either
voluntarily or involuntarily. This is where the financial market comes in, as it offers
trading opportunities to investors, allowing them to readily purchase and sell financial
assets at their fair market value at any moment. Thus, the financial market provides
liquidity to investors by allowing them to freely sell their holdings and convert the
assets into cash.

4. Risk sharing:
Individuals who make investments are not the same as investors who lend their
money. Through the risk-sharing feature. the financial market ensures that financial
backers are completely educated regarding the dangers related with the speculation
prior to making one. In such manner, the financial market assists with moving venture
risk from the financial backer to the individual making the speculation.
 5. Intermediary:
The industries require capital to expand their operations, and they require investors to
do so. Investors, on the other hand, demand a high return on investment, which
requires the industries. As a result, both businesses and investors rely on one another
to achieve their objectives. As a result, the financial market serves as an intermediary,
providing the ideal platform for industries to easily raise the capital they require,
while investors may locate the investment opportunities that they want for high
returns.

6. Market efficiency:
Financial backers search for various data prior to putting their money in buying and
selling financial assets. Solely after a Financial market has been missing for a lot of
time and money, might this data at any point be assembled. The Financial market,
notwithstanding, ensures that financial backers have unlimited admittance to this data,
exchange costs are all accordingly diminished.

7. Capital formation:
Money that would somehow or another be idle as reserve funds is changed into capital
for organizations through the financial market. As such, it goes about as a channel for
financial backer reserve funds to go to ventures, assisting them with capital extension.

 Types of Financial Products :

1. Banking

The banking industry is India's financial services industry's backbone. There are
several public sector (27), private sector (21), foreign (49), regional rural (56) and
urban/rural cooperative (95,000+) banks in the nation. This segment provides the
following financial services:
 Personal Banking (checking accounts, savings accounts, debit/credit cards, and so
on).
 Business Banking (merchant services, business checking and savings accounts,
treasury services, and so on).
 Loans (commercial loans, personal loans, housing loans, auto loans, working-
capital loans, and so on).
The Reserve Bank of India (RBI) regulates the banking system, monitoring and
maintaining liquidity, capitalization, and financial health.

2. Bonds

Bonds refer to high-security debt instruments that enable an entity to raise funds and
fulfil capital requirements. It is a category of debt that borrowers avail from individual
investors for a specified tenure.
Investors purchase bonds at face value or principal, which is returned at the end of a
fixed tenure. Issuers extend a percentage of the principal amount as periodical interest
at fixed or adjustable rates.

Individual investors acquiring bonds have legal and financial claims to an

organizations debt fund. Borrowers are therefore liable to pay the entire face value of
bonds to these individuals after the term expires. As a result, bondholders receive
debt recovery payments before stakeholders in case a company faces bankruptcy.

2. Mutual Funds

Mutual funds are a type of financial entity in which numerous people combine their
money to purchase securities.

The benefit of mutual funds is that they allow investors to pool their money and buy
more than they could individually. Individuals are entitled to a proportionate share of
the fund based on how much they invest.

Mutual fund service providers give professional financial advice to funds comprised
of various asset classes, notably debt and equity-linked assets. When compared to the
stock market and debt products, the buy-in for mutual fund solutions is often smaller.
Considering that they frequently give lesser risks, tax benefits, unsurprising returns,
and broadening features, these items are especially popular in India. The mutual fund
industry has encountered twofold digit development in resources under administration
over the past five years because of its acknowledgment low-risk wealth abundance
multiplier.

4. Insurance

This segment's financial services offers are generally divided into two categories:

 General Insurance (car, house, medical, fire, travel, and so on).

 Life insurance (term, money-back, unit-linked, pension plans, and so on).

Individuals and businesses can use insurance to protect themselves from unanticipated
events and accidents. Payouts for these products vary depending on the product's type,
time horizons, customer risk assessment, premiums, and a number of other critical
qualitative and quantitative factors. There is a substantial presence of insurance
providers in India in both the life insurance (24) and general insurance (39) sectors.
The “Insurance Regulatory and Development Authority of India” (IRDAI) regulates
the insurance market.

5. Stock Market

Stocks are the most prevalent type of security and reflect a percentage of a company's
ownership. When you acquire a stock, you are purchasing a piece of a company's
ownership.
In most cases, stock ownership includes voting rights in the corporation on particular
matters. Because stocks reflect ownership, they entitle you to a percentage of the
company's total value. To fund their operations, businesses sell stock to private
investors.

Stock prices can rise or fall in response to market conditions. Investors make money
primarily by purchasing stocks, waiting for them to appreciate in value, and then
selling them for a profit.

The stock market section comprises equity-linked investment solutions for customers
on the Indian stock exchanges “National Stock Exchange and Bombay Stock
Exchange”. Customers' returns are dependent on capital appreciation - growth in the
value of the equity solution and/or dividends - and company distributions to its
investors.

6. Treasury/Debt Instruments
Among the services given in this field are investments in government and private
organization bonds (debt). The bond issuer (borrower) makes fixed payments (interest
and principal repayment) to the investor at the end of the investment period. This
category includes listed bonds, non-convertible debentures, capital-gain bonds, GoI
savings bonds, tax-free bonds, and other products.

 Advantages of financial products:

1. Wealth accumulation: Individuals can enhance their wealth over time by using
financial instruments such as savings accounts, investment funds, stocks, and bonds.
People can profit from potential returns and compound interest by allocating funds to
these goods, allowing them to accumulate wealth for the future.

2. Diversification: Individuals and corporations can diversify their portfolios using

financial instruments. They can spread risk and decrease the influence of any single
investment's performance on their whole portfolio by investing in several asset classes
or sectors. Diversification protects against market volatility and may boost the
likelihood of reaching long-term financial goals.

3. Flexibility and liquidity: Many financial instruments provide flexibility and

liquidity, allowing investors to access their funds whenever they need them. Savings
accounts and money market funds, for example, allow easy access to cash, whilst
certain types of investments, such as stocks and mutual funds, can be bought and sold
swiftly. This adaptability enables individuals and enterprises to adjust to shifting
financial requirements and capitalize on new possibilities.

4. Income generation: Bonds, dividend-paying equities, rental properties, and

annuities can all produce consistent income streams. Individuals can use these
income-generating goods to fund their living expenditures, retirement, or other
financial goals.
5. Risk management: Insurance alternatives, such as life insurance, health insurance,
and property insurance, are frequently included in financial products. These products
assist individuals and organizations in mitigating potential risks and providing
financial security in the event of unanticipated events such as accidents, sickness, or
property damage.

6. Tax advantages: Some financial products provide tax advantages that might assist
individuals and businesses in lowering their overall tax liability. Retirement accounts,
such as 401(k)s and IRAs, for example, offer tax-deferred growth or tax-free
withdrawals in certain circumstances, allowing individuals to prepare for retirement
while lowering their tax burden.

7. Access to professional expertise: Professional investment managers, financial

counselors, or institutions manage many financial products. Individuals and
corporations who invest in these products receive access to the skills and knowledge
of these professionals, who can assist them in making educated investment decisions,
managing risks, and optimizing their financial strategy.

 Disadvantages of financial products:

1. Risk of loss: Every financial instrument has some level of risk. Stock, bond, mutual
fund, and other securities investments are exposed to market volatility and can result
in losses. It's critical to remember that bigger potential profits are frequently
accompanied by higher risks. There is always the potential of losing some or all of the
funds invested.

2. Complexity: Some financial products, particularly those involving derivatives,

structured products, or alternative investments, can be complex and difficult to
comprehend. Inadequate comprehension or knowledge of the product's complexities
might lead to poor investment decisions or unexpected outcomes.

3. Fees and costs: Many financial products have fees and costs associated with them,
such as management fees, transaction costs, and administrative charges. These
expenses, especially if they are substantial or poorly understood, can diminish
investment returns over time. It is critical to thoroughly assess the costs connected
with a financial instrument and their impact on possible returns.

4. Lack of liquidity: While certain financial instruments provide liquidity and rapid
access to funds, others may be restricted or have limited liquidity. Certain
investments, such as real estate or long-term bonds, may include lock-up periods or
early withdrawal penalties. A lack of liquidity can make it difficult for individuals or
enterprises to access cash when they are needed.

5. Regulatory and legal risks: Financial products are subject to regulatory scrutiny
and legislative and regulatory changes. These modifications may have an influence on
the performance or tax treatment of specific products. Furthermore, there is a risk of
fraudulent or deceptive financial goods, particularly in uncontrolled or less regulated
marketplaces. It is critical to undertake extensive due diligence and invest in products
provided by trusted institutions.

6. Overemphasis on short-term gains: Some financial products, such as day trading

or speculative investments, can encourage an emphasis on short-term profits rather
than long-term financial goals. This might lead to rash or reckless investing decisions,
which can result in losses or bad overall financial outcomes.

7. Potential conflicts of interest: When promoting or selling financial goods,

financial institutions and specialists may have conflicts of interest. They may be
compensated or given incentives to promote particular goods over others, which may
not be in the best interests of the investors. When making financial decisions, it is
critical to be aware of any conflicts of interest and to seek unbiased assistance.
 Chapter – 2
Literature review:

1. Robo-advisors and the financialization of lay investors (Gordon Kuo

Siong Tan, 2020):-

The study emphasizes robo-advisors growing popularity as a simple and low-cost

alternative to traditional financial advisors. These platforms employ algorithms to
evaluate an investor's risk tolerance, financial goals, and investment horizon before
recommending a diverse range of assets. This automation has made investing more
accessible to those with little or no financial understanding or expertise.

The study contends that the rise of robo-advisors has resulted in the financialization of
lay investors, which refers to an increased reliance on financial tools and services to
manage personal wealth. It implies that robo-advisors have reduced investment
decision-making to a standardized process, typically devoid of human interaction.
Individual investors may be more vulnerable to market volatility and systemic risks as
a result.

2. The role of product development practices on new product

performance:Evidence from Nigeria’s financial services providers
(Nkemdilim Iheanachor, Immanuel Ovemeso Umukoro, 2021):-

The study examines data from Nigerian financial service providers, concentrating on
their product development procedures and the performance of their new products. It
delves into numerous aspects of product development, including concept generation,
market research, product design, testing, and commercialization.

According to the research, excellent product development techniques contribute

greatly to the success of new financial products in Nigeria. It emphasizes the
significance of rigorous market research and customer insights in recognizing market
demands and producing goods that are compatible with client preferences. The report
also underlines the importance of rigorous testing and piloting of new goods in order
to identify and resolve any difficulties before full-scale release.
 Furthermore, the study identifies the relevance of difference and innovation in product
development. It implies that financial services companies who use creative tactics,
such as incorporating sophisticated technologies or delivering distinctive features,
have greater new product performance than those who use more traditional strategies.
3. Investment choices and production dynamics: The role of price
expectations, financial deficit, and production constraints (Svetlana
A. Ikonnikova, Victor del Carpio Neyra, 2022):-

The study investigates how firms or industries consider price expectations when
making investment decisions, as well as the impact of anticipated price changes on the
willingness to invest in new projects or expand existing production capacities.

Furthermore, the research looks into the role of financial shortage in investment
decisions. It investigates how firms or industries make investment decisions with
limited financial resources and increased deficits. The study investigates whether
financial restrictions affect firms' and industries' willingness and ability to invest, as
well as how firms or industries handle such constraints.

Furthermore, the study investigates the impact of production restrictions on

investment decisions and production dynamics. It investigates how issues like as
restricted resources, capacity limits, or technical limitations influence investment
decisions and the resulting output. The research looks into how businesses or
industries deal with these constraints and modify their investment strategies
accordingly.

4. Can information about energy costs affect consumers’ choices?

Evidence from a field experiment (Nina Boogen, Claudio
Daminato,2022):-

The study adopts a field experiment approach in which individuals are allocated to
treatment and control groups at random. The treatment group is given thorough
information about the energy costs associated with various products or services, but
the control group is not.

The study looks at how providing energy cost information influences consumers'
energy consumption decisions and their purchasing of energy-efficient products. It
examines whether greater consumer awareness of energy costs effects consumer
behavior, resulting in more energy-conscious decisions and preferences.

5. Effects of customization and product modularization on financial

performance (Magnus Persson,Bjorn Lantz, 2022):-
 The study investigates the relationship between customization and financial success,
which refers to adapting items to unique client needs. It investigates if providing
personalized products leads to increased sales, profitability, and overall financial
success for businesses. The research looks into the potential benefits and cons of
customization in terms of revenue generation and cost management.

The paper also investigates the effects of product modularization, which entails
developing items in a modular manner with interchangeable components. It
investigates if modularization improves financial performance by increasing operating
efficiency, lowering production costs, and allowing for faster product creation and
market response. The research looks at how organizations might profit from
economies of scale and scope by using modular product designs.

Overall, the article sheds light on the effects of product customisation and
modularization on company financial performance. The research contributes to our
understanding of the strategic decisions organizations make to improve their financial
performance by examining the relationship between these tactics and financial results.
The insights can help managers and practitioners develop product strategy and
improve financial results in competitive markets.

6. Revenue-sharing and volume flexibility in the supply chain (Nicos

Koussis , Florina Silaghi, 2023):-

The study examines the interactions between manufacturers and retailers in a supply
chain framework, with a focus on the contractual agreements that regulate their
interactions. The study specifically studies the consequences of revenue-sharing
contracts, which involve manufacturers and merchants pooling revenue gained from
sales on predetermined terms.

The research explores how revenue-sharing arrangements affect volume flexibility, or

the ability to vary output quantities in response to changes in demand. It investigates
whether aligning incentives offered by revenue-sharing agreements improves volume
flexibility and allows for more efficient production planning.

7. Circular economy: Factors affecting the financial performance of

product take-back systems (Jonas Nygaard Uhrenholt , Jesper,
2022):-

The study focuses on product take-back systems, which entail collecting, recycling,
and reusing things at the end of their life cycle in order to promote resource
conservation and waste reduction. The study examines the financial performance of
these systems, taking into account the elements that influence their profitability and
viability.
 The report investigates several aspects that influence the financial performance of
product take-back systems. This includes operational efficiency considerations such
as collection and transportation expenses, recycling technology, and recovered
material quality. It also investigates market phenomena such as recycled product
demand, price mechanisms, and competitiveness within the circular economy sector.

8. Does circular economy affect financial performance? The mediating

role of sustainable supply chain management in the automotive
industry (Gonzalo Maldonado-Guzm´an, 2022):-

The study looks at how circular economy techniques like product remanufacturing,
recycling, and waste reduction affect financial performance measures including
profitability, cost efficiency, and revenue generation in the automobile industry.

The study uses empirical analysis and data from automotive firms to analyze the
relationship between circular economy practices, sustainable supply chain
management, and financial performance. Through the mediating role of sustainable
supply chain management, statistical tools are utilized to examine the direct and
indirect effects of circular economy policies on financial performance.

Overall, the study adds to our understanding of the connection between circular
economy practices, sustainable supply chain management, and financial performance
in the automobile industry. The findings highlight the potential financial benefits of
adopting circular economy principles, as well as the significance of sustainable supply
chain management as a facilitator of these benefits. The information offered can help
organizations in the automobile industry make more sustainable and financially
profitable decisions.

9. The impact of demagnetization on the feasibility of permanent

magnet synchronous motors in industry applications (A. A. Adly , A.
Huzayyin, 2019):-

The study investigates the difficulties and repercussions of demagnetization in

PMSMs, which can result in decreased motor efficiency, torque production, and
overall reliability. Temperature, mechanical stress, and operating conditions are all
investigated as factors that lead to demagnetization in this study.

In addition, the research investigates the effect of demagnetization on the viability of

using PMSMs in industrial applications. It examines a variety of areas where PMSMs
are extensively used, including robotics, electric vehicles, and renewable energy
systems. The research looks at how demagnetization affects the operational and
economic viability of PMSMs in various industries.
10. Research on investment-return model of new power system
considering financial pressure (Jun Zhanga, Chi Wua, 2023):-

The research provides an investment-return model that takes financial pressure into
account when assessing the financial viability and prospective returns of new power
systems. To measure the financial performance of the power system over its lifetime,
the model considers investment costs, operational expenses, revenue streams, and
financial indicators.

Furthermore, the study investigates the relationship between financial pressure and
investment decisions in the electricity sector. It explores the effects of financial
restrictions and market conditions on the timing, scale, and profitability of new power
system investments. The study emphasizes the need of taking financial pressure into
account when establishing the best investment strategy and evaluating the risks and
returns connected with new power projects.

11.The effect of buyer behaviour on preferred customer status and

access to supplier technological innovation: An emperical study of
supplier perceptions (Scott C. Ellis, John W. Henke Jr., 2012):-

The study seeks to explore how various buyer behaviors, such as collaboration,
loyalty, communication, and willingness to co-invest, influence their perceived value
and connection with suppliers. It investigates whether providers regard consumers
who engage in such behaviors as favored customers and whether this position grants
them better access to technology breakthroughs given by the supplier.

The study will most likely use quantitative methodologies and survey-based data
collecting to assess suppliers' perspectives and experiences. Surveys or interviews
with suppliers may be used to acquire information about their interactions with
buyers, their criteria for selecting favored customers, and their willingness to share
technology advancements with various buyer categories.

The study's findings shed light on the significance of buyer behavior in supplier
relationships and its impact on access to supplier-provided technological
advancements. The study adds to our understanding of the dynamics of buyer-supplier
interactions, as well as the characteristics that enable buyers to earn preferred
customer status and the rewards that come with it.
12.Guidelines for disassembly and adaptation in architectural design
compared to circular economy goals (Aleksandra Kręt-Grze
´skowiak, 2023):-

The paper will almost certainly go over existing research, case studies, and best
practices in architectural design and circular economy ideas. It could look into
different architectural design techniques, technologies, and materials that make
disassembly and adaption easier, as well as the obstacles and barriers to their
implementation.

The study seeks to comprehend how architectural design may contribute to a more
sustainable and circular built environment by taking into account the full lifecycle of
buildings. It investigates the notions of disassembly and adaptation, which entail
creating buildings that are readily disassembled, components that can be reused or
repurposed, and spaces that can be changed to multiple roles or changing user needs.

The study's findings shed light on the possible benefits, opportunities, and limitations
of incorporating disassembly and adaption methodologies into architectural design.
The research helps to advance sustainable architectural methods that are aligned with
the concepts of the circular economy and can help to reduce waste and resource
depletion in the built environment.

13.The antecedents of circular economy financing and investment

supply: The role of financial environment (Daniel Agyapong , George
Tweneboah, 2023):-

The study seeks to uncover the factors that influence the availability of financial
resources for circular economy initiatives. It investigates how financial environment
factors such as regulatory frameworks, financial institutions, market structures, or
government policies influence financial actors' willingness and ability to support
circular economy projects.

To investigate the relationship between the financial environment and circular

economy finance, the study will most likely use a combination of qualitative and
quantitative methodologies. It may entail examining data from several countries or
regions, evaluating financial indicators, policy documents, or conducting interviews
and surveys with key financial stakeholders.
14.Annual report readability, current earnings, and earnings
persistence (Feng Li, 2008):-

The study aims to discover how the readability of annual reports, which refers to the
ease with which the information contained in the reports can be understood, effects
investors' opinions of a company's current earnings and the sustainability of those
earnings over time. It investigates if organizations that produce more understandable
annual reports have more consistent and predictable earnings.

To investigate the relationship between annual report readability, current earnings,

and earnings persistence, the research will most likely use quantitative approaches and
statistical analysis. It may examine a large number of annual reports from various
organizations and industries, employing readability measures and financial data to
assess and compare the levels of readability and earnings quality.

15.Catastrophe bond pricing in the primary market: The issuer effect

and pricing factors (Marian Chatoro , Sovan Mitra, 2023):-

The study seeks to investigate how various issuer characteristics, such as reputation,
financial health, or prior performance, influence disaster bond price. It explores if
investors have diverse perspectives of issuers and whether these beliefs are reflected
in bond pricing.

To investigate the issuer effect and price determinants, the article would most likely
use quantitative approaches and statistical analysis. It might examine a dataset of
disaster bond issuances, taking into account factors like issuer credit ratings, bond
characteristics, market conditions, and pricing terms. To discover the elements that
have a substantial impact on bond pricing, the study may employ regression analysis
or other modeling techniques.

16.Co-movements between multidimensional investor sentiment and

returns on internet financial products (Rongda Chen , Shengnan
Wang, 2023):-

The study seeks to comprehend the dynamics that exist between investor mood and
the returns of internet financial products, which comprise a variety of online-based
financial services, platforms, or instruments. It investigates how changes in investor
sentiment, as measured by sentiment indicators or sentiment indices, affect investment
behavior and subsequent returns in the internet finance sector.

The article will almost certainly use quantitative approaches and statistical analysis to
investigate the co-movements and correlations between multidimensional investor
 sentiment and the returns on internet financial products. To capture and quantify
investor sentiment, it may use time-series data, sentiment surveys, or sentiment
analysis tools.

17.Disproportional control rights and debt maturity (Ning Gao , Wei

Jiang, 2023):-

The study seeks to comprehend how control rights, which govern the decision-making
power and impact of various shareholders within a corporation, interact with debt
maturity selection. It investigates whether shareholders with more control rights
prefer shorter or longer maturity debt instruments, and how this preference affects the
firm's overall debt structure.

To investigate the relationship between disproportional control rights and debt

maturity, the paper will most likely use empirical analysis, theoretical modeling, or a
mix of the two. It may study the patterns and implications of control rights on debt
maturity decisions by analyzing data from diverse firms or running simulations.

18.Does product market competition affect the adoption of FinTech by

nonfinancial firms? (Liu Hong , Ehsan Nikbakht, 2023):-

The study seeks to comprehend the strategic factors and motivations for nonfinancial
enterprises to adopt FinTech. It investigates how product market competitiveness
influences organizations' demand for innovation, efficiency gains, cost savings, or
customer engagement, and how these characteristics drive FinTech adoption.

The study will most likely examine empirical data, case studies, or surveys to
investigate the relationships between product market rivalry and FinTech adoption. It
may research the relationship between competitiveness levels and the extent of
FinTech adoption within industries or sectors where FinTech adoption has been
prevalent.

19.Empirical conditional quantile test for purchasing power parity:

Evidence from East Asian countries (Wei Ma , Haiqi Li, 2017):-

The study seeks to determine if East Asian exchange rates reflect long-term
equilibrium values as implied by PPP. It seeks to determine if changes in exchange
rates correspond to changes in relative price levels over time.

The empirical analysis is most likely conducted using econometric methodologies and
time series data from East Asian countries. It examines the relationship between
exchange rates and relative prices across different portions of the distribution using a
quantile regression methodology.
 The study's findings help to clarify the applicability of PPP in East Asian countries. It
demonstrates empirically whether exchange rates tend to adapt in order to maintain
long-term purchasing power parity.

20.Finance, investment, and growth (Wendy Carlin , Colin Mayer,

2003):-

The study seeks to comprehend how financial systems, such as banks, capital markets,
and financial intermediaries, facilitate investment by providing funds, distributing
capital, and managing risk. It looks at how finance influences investment decisions,
capital formation, technical progress, and productivity growth.

The study will most likely examine the relationships between finance, investment, and
economic growth using empirical data, case studies, or theoretical models. It may
investigate many mechanisms via which financial development influences investment,
such as loan availability, venture capital availability, or financial market efficiency.

The study may also look into the influence of investment on economic growth, taking
into account aspects like productivity improvements, job creation, and technological
innovation. It may investigate the relationships between finance and investment, as
well as other macroeconomic variables such as inflation, interest rates, and fiscal
policy.

21.Internet finance investor sentiment and return co-movement

(Rongda Chen , Jingjing Yu, 2019):-

The research aims to better understand how investor emotion effects investment
decisions and subsequent returns in the internet finance sector. It looks at how
positive or negative mood affects investor behavior, trading patterns, and market
dynamics in general.

The study will almost certainly look at numerous facets of investor mood in internet
finance, such as optimism, pessimism, herding behavior, or market sentiment indices
unique to this business. It looks into how changes in investor mood affect investment
flows, asset values, and the risk-return profile of internet finance investments.

22.Investment risk – The perspective of individual investors (Katharina

Sachse , Helmut Jungermann, 2012):-

The study seeks to comprehend how individual investors perceive and appraise
investment risk. It looks into the psychological, cognitive, and behavioral elements
 that influence investors' risk assessments, such as personal qualities, past experiences,
and information sources.

The study is expected to investigate several aspects of investing risk that individuals
consider, such as market volatility, prospective losses, uncertainty, or the risk of
failing to meet financial goals. It investigates how these characteristics influence
investors' risk tolerance, risk preferences, and the risk-return trade-offs they are
willing to undertake.

23.Investor sentiment and economic forces (Junyan Shen , Jianfeng Yu,

2017):-

The study seeks to comprehend how investor attitude drives market dynamics and
contributes to the volatility and swings seen in financial markets. It investigates how
herd behavior, overconfidence, or fear can enhance or decrease the effects of
economic factors on asset values.

The report will most likely examine several economic issues that influence investor
sentiment. Macroeconomic indicators, business earnings, interest rates, geopolitical
events, and market sentiment indices are examples of these. The study investigates
how changes in these economic dynamics affect investor mood and, as a result,
market behavior.

24.New decision-making techniques and their application in the

selection of financial products (José M. Merigó , Anna M. Gil-
Lafuente, 2010):-

The study focuses on decision-making processes that go beyond traditional methods

and include technological, data analytic, and behavioral economics advances. It
investigates how these strategies can improve decision-making, outcomes, and solve
the problems that individuals confront when navigating complex financial product
options.

The article will most likely address several decision-making processes applicable to
financial product selection. Machine learning algorithms, data-driven modeling,
artificial intelligence, behavioral nudges, and personalized recommendation systems
are examples of these. The study investigates how these strategies might use data,
individual preferences, and behavioral insights to deliver personalized
recommendations and help financial decision-making.

25.Public trust, the law, and financial investment (Bruce Ian Carlin ,
Florin Dorobantu, 2009):-
 The study focuses on the concept of public trust, which relates to individuals'
confidence and belief in the integrity, dependability, and fairness of financial systems
and institutions. It investigates how trust, or lack thereof, influences investment
behavior and decision-making.

The report will most likely examine the legal framework's role in shaping public trust
and investment results. It could look into how regulatory measures, investor
protection laws, and legal enforcement procedures help to build trust in financial
markets and institutions. Furthermore, the study may look into how legal variables
like transparency, accountability, and the effectiveness of legal remedies influence
people's desire to invest.

26.Returns and volatilities of energy futures markets: Roles of

speculative and hedging sentiments (Rongda Chen , Bo We, 2021):-

The study focuses on the impact of sentiment on market results. It investigates how
speculative sentiment, defined as traders' expectations of future price movements and
profit-seeking behavior, and hedging sentiment, which reflects commercial
participants' risk-management efforts, affect returns and volatility in energy futures
markets.

To investigate the relationship between attitudes and market performance, the article
will most likely use quantitative approaches and statistical analysis. It may employ
econometric models such as vector autoregression (VAR) or generalized
autoregressive conditional heteroskedasticity (GARCH) to investigate the relationship
between attitudes and market factors such as returns and volatility.

The study might look into multiple energy futures markets, such as oil, natural gas, or
electricity, and see how mood influences each one differently. It may also investigate
the impact of external influences on sentiment, such as macroeconomic indicators or
geopolitical events, and the resultant impact on market outcomes.

27.Technology adoption: A conjoint analysis of consumers ‫ ׳‬preference

on future online banking services (Samson Yusuf Dauda , Jongsu
Lee, 2015):-

The study focuses on the adoption of technology in the context of online banking. It
studies customer preferences for potential future developments in online banking and
investigates the growing landscape of digital banking services.

Coupling analysis, a quantitative research tool, is used in this work to examine

consumers' trade-offs and preferences for key features of online banking services. It
 presents participants with various scenarios and asks them to rank or rate their
preferences based on specific online banking features or attributes such as user
interface design, security measures, mobile banking capabilities, personalized
financial advice, or integration with other financial services.

The study uses conjoint analysis to estimate the relative value of various qualities and
consumer preferences for future online banking services. It could also look into how
customer factors like age, gender, or technical literacy influence their preferences and
adoption decisions.

28.The genre of banking financial product information: The characters,

the setting, the plot and the story (C.V. Helliar , B. Lowies, 2022):-

The study focuses on the genre of financial product information, which includes
numerous documents, brochures, websites, and marketing materials used by banks to
deliver information to customers about their financial goods and services. The
research seeks to comprehend the genre's structure, narrative components, and impact
on customer decision-making.

The study looks at the characters in financial product information, which could
include the bank as the protagonist, the target audience as the intended reader, and
possibly additional stakeholders. It looks into how these characters are portrayed and
how they affect customer involvement and understanding.

29.Finite-time stabilization of a perturbed chaotic finance model (Israr

Ahmad , Adel Ouannas, 2021):-

The study looks at a specific financial model that is susceptible to perturbations or

disturbances. It investigates the chaotic dynamics inherent in the model and seeks
control solutions capable of stabilizing the system within a finite time interval.

To accomplish the desired stabilization, the paper may suggest several control
strategies and algorithms. It could use control theory tools like feedback control,
Lyapunov stability analysis, or optimal control methods to build strategies for
suppressing chaos and guaranteeing the system converges to a desirable state in a
finite amount of time.

30.Fractional and fractal processes applied to cryptocurrencies price

series (S.A. David, C.M.C. Inacio Jr, 2021):-
 The study focuses on fractional processes, which are stochastic models that enable
long-term reliance and memory in time series data. It investigates whether fractional
processes may successfully capture the statistical features and dynamics of bitcoin
price series, which are characterized by volatility and non-linear behavior.

The paper also investigates the concept of fractality in the context of bitcoin values. In
complex systems, fractionality refers to the self-similarity and scale invariance
exhibited in patterns at different scales. The study looks into whether fractal patterns
exist in bitcoin price series and what they mean for understanding market behavior
and predictions.

Chapter – 3
RESEARCH METHODOLOGY
 Meaning :-

The methodical and organized strategy used by researchers to conduct

scientific inquiries, collect data, analyze information, and draw conclusions is referred
to as research methodology. It includes a research study's overall design and
framework, as well as the methods, strategies, and processes used to answer research
questions or test hypotheses.

 Problem Statement :-

To identify customer’s preference among various financial product.

 Research Objectives :-

To determine the major elements impacting customer preferences.

To examine customer preferences across several financial product categories.
To study the impact of technology and digital transformation.
To understand product innovation leads to customization opportunities.

 Scope of Study :-
The Scope for our study is Ahmedabad and Surat as for collecting data from random
sampling.
 Research Design :-

Descriptive Research Design : Descriptive research seeks to correctly and

methodically describe a population, circumstance, or phenomena. It can answer what,
where, when, and how questions, but not why. A descriptive research strategy can
employ a wide range of research methods to study one or more variables.

Exploratory Research Design :An exploratory research design is a form of research

design used when the goal of the study is to get a deeper understanding of a research
problem or to explore new areas of knowledge. It is frequently used when the research
issue is relatively unknown, imprecise, or lacks a strong theoretical framework.

Here, we are considering Descriptive Research Design for our study.

 Source of Data :-
A. Primary Data : Original data gathered directly from the source for the purpose of a
certain research study or investigation is referred to as primary data. It is data obtained
directly by the researcher or study team that has not previously been published or is not
available in any existing sources.

Primary Data is Collected through Questionnaire

B. Secondary Data : Secondary data is data that has already been collected by someone
else or for a reason other than the current research endeavor. It is information gained
from sources other than the researcher, such as published sources, databases,
organizational records, government reports, or other research studies.

Secondary Data is collected through different websites and Research Papers.

 Sample Design :-
Sample design is the process of selecting a subset, or sample, of individuals
or units from a larger population for the goal of conducting a research study. It include
making judgments concerning sample size, sampling method, and inclusion criteria.
 For this Research we considering random sampling Method.

 Research Hypotheses :-
Research hypotheses are specific claims or predictions regarding the
correlations, differences, or impacts that researchers expect to uncover in their study.
Hypotheses are developed based on current information, theories, observations, or past
study, and they serve as the framework for conducting empirical research and
assessing their validity.

Objective – 1 : To determine the major elements impacting customer preferences.

 H0 Null: There is No relation between Preference of customer for Financial
Product and Quality of Product.
 H1 Alternate: The Quality affects the preference of customer among various
Financial Products.

Objective – 2 : To examine customer preferences across several financial product

categories.
 H0 Null: There is No relation between Preference of customer for Financial
Product and Benefits of Products.
 H1 Alternate: The Benefits of the product is effective factor for preference of
customer among various Financial Products.

Objective – 3 : To study the impact of technology and digital transformation.

 H0 Null: There is No impact of technological and digital Transformation on
preference of customer for financial products.
 H1 Alternate: Technological and digital Transformation is the most impactful
for preference of customer for financial products.

Objective – 4 : To understand product innovation leads to customization opportunities.

 H0 Null: Product Innovation Doesn’t leads the customization opportunity.

 H1 Alternate: Products Innovation leads the Customization opportunity.
 Chapter – 4
DATA COLLECTION & DATA ANALYSIS
Data Collection

Interpretation :-From the above Pie chart we can see that from the 113 respondents
there are 68.1% are Male and rest of them are Females.
Interpretation :-From the above Pie chart we can see that from the 113 respondents
majority people are from below 25 year age group, and rest are from rest categories in
lower proportionate.

Interpretation :-From the above Pie chart we can see that from the 113 respondents
majority persons are students with the percentage of 62.8%, then nearly 25% are
employees, 8% are Businessman, and some are from professional and Homemaker but
there is no one from retired category.
Interpretation :-From the above Pie chart we can see that from the 113 respondents
majority are having less than 15000 Rs. Monthly Income. Than around 23% people
earning is between 15001 to 30000 Rs. a month. 7.1% people are earning above 60000
Rs. a month. The most less people are earning between 45000 to 60000.

Interpretation :-From the above Bar chart we can see that from the 113 respondents
highest favorable or Preferable Financial product is Fixed Deposit then Stock Market and
lastly Mutual Funds.
Interpretation :-From the above Pie chart we can see that from the 113 respondents
76.1% people have already used Financial products. 13.3% people are using presently and
10.6% people are confused about their usage about these financial products.

Interpretation :-From the above Pie chart we can see that from the 113 respondents
43.4% persons are Very satisfied with the current features of financial products. 25.7%
are Extremely satisfied with features & 23.9% are moderately satisfied. Very less people
are dissatisfied about the features of Financial Products.
Interpretation :-From the above Bar chart we can see that from the 113 respondents
almost 70% people uses the financial products for Money growth, 64.6% are using for
savings purpose only. Only 40 people are using this for wealth management and only 19
people are using this for investment purpose only.

Interpretation :-From the above Histogram chart we can see that from the 113
respondents, for affecting factors for buying decision Qualities are the Strongly agreeable
factor and
Interpretation :-From the above chart we can see that from the 113 respondents
almost 54% people interested in stocks and 51% people interested in mutual funds and
33% people interested real estate. only 27% people interested in bonds and 21% people
interested in crypto currency.

Interpretation: - From the above chart we can see that from the 113 respondents, for
the 1st high interest rate feature of investment 60% people strongly agreed that if interest
rate is high they would most likely to invest in particular investment, on the another if
financial institute provide online banking service 55% people out of 113 respondents
would like the most that particular investment, there is only approximately 40% people
who agreed on customer service quality and for which strongly agreed person is also
high. Fourth feature is convenience for customer to which strongly agreed person is in
content of approximately 42% which highest in comparison with other strongly agreed
person list.

Interpretation :-From the above chart we can see that from the 113 respondents
almost 58% people interested in wealth management and 50% people interested in tax
planning and other 44% people interested in retirement planning. also people planning
about the education is 43% and less people interested in estate planning.

Interpretation: -From the above chart we can see that from the 113 respondents are
73% people have existing investments and 27% people not have any existing investments.
Interpretation :-From the above chart we can see that from the 113 respondents most
of the people prefer the online banking. 28% people use the mobile banking apps. only
15% people interested to visit the physical branches.

Interpretation: - From the above chart we can see that from the 113 respondents are
use the technologies in daily life and 20% people frequently use the technologies in daily
life.
Interpretation :-From the above chart we can see that from the 113 respondents
almost 80% people use payment method through the mobile wallets. only 14% people
use the credit/ debit cards and other 6% use the another online payment platforms.

Interpretation: - From the above chart we can see that from the 113 respondents
almost 70% people use online banking and 61% people use the social media platform and
57% people use the e-commerce websites. 40% people use food delivery apps. only 32%
people use the streaming services.
Interpretation: -From the above chart we can see that from the 113 respondents
almost 77% people agree with the digital transformation should impact on the purchasing
decision making and less people disagree with the statement.

Interpretation: -From the above chart we can see that from the 113 respondents 70%
people expect to protect with 2 factor authentication, another 53 respondents want
transparent data usage policies, 42 people out of 113 want regular audit and updates for
security of their data, 68 people of 113 respondents want strong encryption of personal
information.
Interpretation: - From the above chart we can see that from the 113 respondents,
53.1% people said that they already using customized products, 27.4% people said that
occasionally using customized products, 12.4% wish to use customized products and
remaining 7.1% people says that they don’t want to use customized products they are
good with their standard products.

Interpretation:-From the above chart we can see that from the 113 respondents, we
can see that 32.7% people have said their they want to align their objectives with their
financial goal and that is why they want to customize their products, and such financial
goals are subjective in mature, they vary person to person, approximately 42.5% people
want control over their finance with flexibility, and 12.4% says that they want to meet
their specific financial need and challenges in life lastly remaining 12.4% people out of
113 respondents says that they want to access unique features and benefits of new
financial products and so mostly liked reason for customizing products.
Interpretation :-From the above chart we can see that from the 113 respondents
almost 49% people agreed with customization is very important and 34% people agrees
with customization is somewhat important. 15% people are netural.

Interpretation :-From the above chart we can see that from the 113 respondents 39%
people are very comfortable for sharing personal financial data. 27% people are
somewhat comfortable for sharing personal financial data.
 Interpretation:-From the above chart we can see that from the 113 respondents, we
can see that 45.1% people are ready to switch to financial institution if they provide
service which customization, 23% people are somewhat likely to switch, 25.7% people
are that people which are confused whether to switch or not and approximately 11%
people from 113 respondents are not ready to switch their financial institution they are
happy what their fin. Institutional are providing.

DATA ANALYSIS

Descriptive Statistics

N Minimum Maximum Mean Std. Deviation Skewness Kurtosis

Std. Std.
Statistic Statistic Statistic Statistic Statistic Statistic Error Statistic Error
HaveyouusedtheseFinancial 113 1 3 1.35 .665 1.701 .227 1.443 .451
Productsbefore
Howsatisfiedareyouwiththe 113 1 5 2.14 .925 .679 .227 .386 .451
currentfeaturesoftheproduct
s
Ratethefactorsthataffectyou 113 1 5 1.89 1.072 1.454 .227 1.803 .451
rbuyingdecisionforthiscateg
_D
Ratethefactorsthataffectyou 113 1 5 1.91 .912 1.041 .227 1.175 .451
rbuyingdecisionforthiscateg
_C
Ratethefactorsthataffectyou 113 1 5 2.06 1.080 1.218 .227 1.258 .451
rbuyingdecisionforthiscateg
_B
Ratethefactorsthataffectyou 113 1 5 1.98 .963 1.255 .227 1.822 .451
rbuyingdecisionforthiscateg
_A
Ratethefactorsthataffectyou 113 1 5 2.14 1.017 1.112 .227 1.322 .451
rbuyingdecisionforthiscateg
Whichfeaturesareimportantt 113 1 5 2.29 1.107 1.123 .227 .749 .451
oyouinaFinancialProductsH
i
Whichfeaturesareimportantt 113 1 5 2.11 1.080 1.342 .227 1.537 .451
oyouinaFinancialProductsO
n
Whichfeaturesareimportantt 113 1 5 2.05 1.140 1.218 .227 .956 .451
oyouinaFinancialProductsC
u
Whichfeaturesareimportantt 113 1 5 2.06 1.159 1.242 .227 .977 .451
oyouinaFinancialProductsC
o
Howdoyouprefertoconducty 113 1 4 2.15 .671 -.005 .227 -.380 .451
ourbankingactivities
Doyouhaveanyexistinginve 113 1 2 1.27 .448 1.025 .227 -.966 .451
stments
How2doyouusetechnologie 113 1 5 1.63 .928 1.495 .227 1.918 .451
sinyourdailylifeforFinancial
P
Whichdigitalpaymentmetho 113 1 3 1.91 .434 -.479 .227 2.079 .451
dsdoyouuse
Thereisaimpactofdigitaltran 113 1 3 1.39 .749 1.554 .227 .632 .451
sformationonthePurchasing
de
Haveyoueverusedcustomize 113 1 4 1.73 .936 1.090 .227 .167 .451
dfinancialproducttobettersui
ty
Whatarethemainreasonswhy 113 1 4 2.04 .976 .731 .227 -.382 .451
youwouldconsidercustomizi
ngaf
Howimportantiscustomizati 113 1 5 1.73 .848 1.098 .227 1.090 .451
onoffinancialproductstoyou
Howcomfortableareyouwith 113 1 5 2.07 1.075 .779 .227 .049 .451
sharingyourpersonalfinanci
aldat
Howlikelyareyoutoswitchto 113 1 5 1.96 1.068 .921 .227 .305 .451
afinancialinstitutionthatoff
Valid N (listwise) 113

Interpretation :- From the Above Descriptive Analysis,

 In this Descriptive analysis, we can see that major values of Means are less than the
expected mean 2.5 and our study is agreeing between 1 to 2.5. So, from the above
output we can see that all the Mean values are lies between our criteria. So, our study
is failing to reject Null Hypotheses.

 For Skewness, If the value is greater than + 1.0, the distribution is right skewed. If the
value is less than -1.0, the distribution is left skewed. So, from above data So therefore
“How do you prefer to conduct your banking activities” and “Which digital payment
methods do you use” are left skewed and remaining are right skewed.

 For kurtosis, if the value is greater than + 1.0, the distribution is leptokurtic. If the
value is less than -1.0, the distribution is platykurtic. So therefore, “how do you prefer
to conduct your banking activities” and “do you have any existing investments” are
platykurtic and remaining are leptokurtic.

Gender * Which Financial Products Do you Prefer the Most from below Crosstabulation
WhichFinancialProductsDoyouPrefertheMostfrombelow Total
Stock Stock Stock Stock Mutual Mutual Fixed
Market Market, Market, Market, Fund Funds, Deposit
Mutual Mutual Fixed Fixed
Fund Funds, Deposit Deposit
Fixed
Deposit
G M Count 15 8 5 13 4 11 21 77
e a % within Gender 19.5% 10.4% 6.5% 16.9% 5.2% 14.3% 27.3% 100.
n l 0%
d e % within 93.8% 66.7% 71.4% 81.3% 40.0% 68.8% 58.3% 68.1
er WhichFinancialPr %
oductsDoyouPref
ertheMostfrombel
ow
 F Count 1 4 2 3 6 5 15 36
e % within Gender 2.8% 11.1% 5.6% 8.3% 16.7% 13.9% 41.7% 100.
m 0%
a % within 6.3% 33.3% 28.6% 18.8% 60.0% 31.3% 41.7% 31.9
l WhichFinancialPr %
e oductsDoyouPref
ertheMostfrombel
ow
Total Count 16 12 7 16 10 16 36 113
% within Gender 14.2% 10.6% 6.2% 14.2% 8.8% 14.2% 31.9% 100.
0%
% within 100.0 100.0% 100.0% 100.0% 100.0 100.0% 100.0% 100.
WhichFinancialPr % % 0%
oductsDoyouPref
ertheMostfrombel
ow

Chi-Square Tests
Value Df Asymptotic
Significance
(2-sided)
a
Pearson Chi-Square 11.393 6 .077
Likelihood Ratio 12.617 6 .050
N of Valid Cases 113
a. 4 cells (28.6%) have expected count less than 5. The
minimum expected count is 2.23.

Interpretation :- From the Above Chi-Square Analysis,

 Our chi-square calculated value is greater than the chi-square critical value, then
you reject your null hypothesis. If your chi-square calculated value is less than
the chi-square critical value, then you "fail to reject" your null hypothesis.
 H0 Null: No association between Gender and preference of various financial
products by customer.
 H1 Alternate: There is an association. Preference of various financial product by
customer depends on gender.
 So, P value is more than 0.05 that’s why we fail to reject Null Hypotheses.
 Chapter - 5
FINDINGS & CONCLUSION

 Findings :-

From the study

 Conclusions :-

Financial products landscape offers a wide array of options to cater to the diverse
needs and preferences of customers.

financial product preferences are driven by individual goals, risk tolerance,

convenience, customization, and alignments with personal values.
financial institutes need to understand and respond to these preferences, offering a
diverse range of products, innovative technology solutions and customer centricity to
meet the evolving needs of customers in the financial market place.

Chapter – 6
REFERENCES

Research Papers :-

References :-
A. A. Adly, A. H. (2019). The impact of demagnetization on the feasibility of permanent
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Bruce Ian Carlin, F. D. (2009). Public trust, the law, and financial investment. 321-341.

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institutions/

ANNEXURE

Questionnaire Survey
I. Name :-

II. Email Id :-

III. Gender :-
o Male
o Female

IV. Age :-
 o <25
o 26 – 35
o 36 – 45
o 46 – 60
o 60 Above

V. Occupation :-
o Student
o Employee
o Businessman
o Professional
o Homemaker
o Retired

VI. Income :-
o < 15000
o 15001 – 30000
o 30001 – 45000
o 45001 – 60000
o 60000 Above

VII. Which Financial Products Do you Prefer the Most from below:
 Stock Market
 Mutual Funds
 Fixed Deposit

VIII. Have you used these Financial Products before?

o Yes
o No
o Maybe
 IX. How satisfied are you with the current features of the products in this
category?
o Extremely Satisfied
o Very Satisfied
o Moderately Satisfied
o Not Very Satisfied
o Dissatisfied

X. Why do you use these Financial product/service?

 For Savings
 Money Growth
 Wealth Management
 Investment Purpose Only

XI. Rate the factors that affect your buying decision for this category.
(Strongly Agree, Agree, Moderate, Disagree, Strongly Disagree)
• Qualities
• Facilities
• Company
• Earlier Usage
• New Trials

XII. Which investment options are you most interested in ?

 Stocks
 Bonds
 Mutual Funds
 Real Estate
 Crypto Currency
 Others

XIII. Which features are important to you in a Financial Products?

(Strongly Agree, Agree, Moderate, Disagree, Strongly Disagree)
 • High Interest Rates
• Online Banking Service
• Customer Service Quality
• Convenience for Customers

XIV. What specific financial planning areas are you interested in?
 Retirement Planning
 Tax Planning
 Estate Planning
 Education Planning
 Wealth Management

XV. How do you prefer to conduct your banking activities?

o Physical Branches
o Online Banking
o Mobile Banking Apps
o Telephonic Banking

XVI. Do you have any existing investments?

o Yes
o No

XVII. How frequently do you use technologies in your daily life for Financial
Products ? (e.g., Smartphone, Computer, etc.)
o Very Frequently
o Frequently
o Neutral
o Occasionally
o Very Occasionally

XVIII. Which digital payment methods do you use?

o Credit / Debit Cards
 o Mobile Wallets (E.g. Google Pay, Paytm)
o Online Payment Platforms (E.g. Paypal, Venmo)

XIX. Which digital services or platform do you use?

 Online Banking
 E-commerce Websites
 Streaming Services (E.g. Netflix, Spotify)
 Social Media Platform (E.g. Facebook, Instagram)
 Food Delivery Apps (E.g. Zomato, Swiggy)
XX. There is a impact of digital transformation on the Purchasing decisions
making.
o Yes
o No
o May be

XXI. What measures do you expect digital companies to take to protect your
privacy and data?
 Transport Data Usage Policies
 Strong Encryption of Personal Information
 Two Factor Authentication
 Regular Security Audits and Updates
 Compliance with data protection Regulation

XXII. Have you ever used customized financial product to better suit your needs or
preferences?
o Yes, Frequently
o Yes, Occasionally
o No, But I would like to
o No, I prefer using Standard Financial Products

XXIII. What are the main reasons why you would consider customizing a financial
product?
o To align with my financial goals & Objectives
 o To have more control & flexibility over my finance
o To address specific financial needs or challenges
o To access unique features or benefits

XXIV. How important is customization of financial products to you?

o Very Important
o Somewhat Important
o Neutral
o Not Very Important
o Not at all Important

XXV. How comfortable are you with sharing your personal financial data to receive
customized financial product recommendations?
o Very Comfortable
o Somewhat Comfortable
o Neutral
o Not Very Comfortable
o Not at all Comfortable

XXVI. How likely are you to switch to a financial institution that offers more
Customizable financial product?
o Very Likely
o Somewhat Likely
o Neutral
o Not Very Likely
o Not at all Likely