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Customer Buying Behavior
for Demat Account
Group XVaibhav Munjal | Vikram Sunda | Vinoth Shankar Nagarajan |
Viral Mehta | Vishal Sah
• Account that holds all your shares/securities in electronic or dematerialized form
• Account holds the certificates of financial instruments like shares, bonds, government securities, mutual funds & exchange traded funds (ETFs)
• Cannot trade in the stock market without a Demat account
Demat Account: Introduction
Research ObjectiveTo understand the customer buying behavior and decision making process for thepurchase/opening of Demat account.
Dependent variable: Expectations of a consumer from a Demat account
Independent variables: Awareness, Interest, Duration, Depository Choice, Complexity in Understanding the system, Cost Structure, Type of Cost Structure, Value Added Services.
Secondary data: Reports on Share Brokers, Websites and Telephonic conversation with the market players
Instrument of data collection: Questionnaire
Sampling Method: Convenience Sampling
Sample Size: 44
Research Methodology and Design:
Actual questionnaire used: Mapping questions to outcome
Customer Decision Making Process: Demat Account
TestingMapping
Need v. Availability
Search for the Options
NeedRecognition
Buying Decision
Factors effecting each step of process:
Need Recognition
Invest/Trade
Transfer
Cost
Value added services
Convenience
Brand etc
Search for the options
Knowledge
Availability
Eligibility
Expectations
Market size
Competition etc
Mapping Expectations
Inputs
Evaluation
Reviews
Recognition
Brand value
Cross verify
etc
Testing
Hands on
Comparison
Compatibility
Effectiveness
Effectiveness
etc
Segmentation Process:• Identify segmentation criteria• Conduct market research• Apply cluster analysis (Using advanced statistical
techniques eg: SPSS)Strategies:• Single segment Concentration: Total marketing
effort is concentrated only on one market• Multi-segment coverage: Selective specialization• Product Specialization: One product multiple
segments• Segment specialization: Many products single
segment• Full market coverage
Customer Specific Situation Specific
Observable • Cultural Variables
• Geographic Variables
• Demographic Variables
• Socio-Economic Variables
• User Status• Frequency Of
Use• Brand-loyalty
Unobservable • Psychographics• Personality• Lifestyle
• Benefits• Perceptions• Attitudes• Preferences• Intentions
Classification of basis for segmentation
Segmentation strategy:
• Search engine optimization to find the potential customers
• Aggressive digital marketing
• Reputed brand name• Massive customer
base of around 8 lakhs
• Attractive brokerage charges
Search
• Low brokerage cost• Attractive product
portfolio• Highly responsive
customer service• Providing value
added services to the client
• Technological advancements in their operation
• Customers looking for Online share trading
• They target young corporate people
• People looking for ease and comfortability
• Digital platforms like BankBazaar, policy bazaar etc.
Evaluation Outlet selection
Company’s plan to influence at each stage:
• Dedicated Facebook page to cater customer needs
• Regular interactions and discussions
• 24/7 customer care system which takes customer queries
• They also provide support through E-mail
• Dedicated twitter handle which is highly responsive
• Around 23000 followers
Post-purchase Feedback Mechanism:
Recommendations and Conclusion:
Providing value added services is important for getting new customers
Offering quality services with cost effectiveness will drive the customer most
Offering both the depository options NSDL & CDSL advisable, most favor NSDL.
Offering two way cost structure i.e. One-time and Annual (66% v 34%)
Provision of effective after sales and product support
Keeping the prices competitive
Making the product and services available in all major locations
Innovating the product offerings and service bundle
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