cust satisfaction

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TABLE OF CONTENTS

HEADINGS Page

Number

CHAPTER 1 INTRODUCTION 5

CHAPTER 2 INDUSTRY PROFILE 11

CHAPTER 3 COMPANY PROFILE 18

CHAPTER 4 LITERATURE REVIEW 22

CHAPTER 5 RESEARH METHODOLOGY 27

CHAPTER 6 DATA ANALYSIS AND INTERPRETATION 32

CHAPTER 7 FINDINGS, SUGGESTIONS AND CONCLUSION 45

BIBLIOGRAPHY 50

ANNEXURE, QUESTIONNAIRE 52


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Chapter I

INTRODUCTION


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INTRODUCTION TO THE STUDY

Customer Satisfaction

Today the goal of every organization is customer satisfaction. Marketers realize that

organization exist because of customers. Hence they follow value based marketing. Consider

the fact todays customer face a plenitude of products in every category. Customer will be

having high and raising expectation of quality and service. In the face of the modern concepts of

marketing realized that measuring consumer needs or behavior was not enough. CONSUMER

SATISFICATION should be the core and then the correct perception on which marketing

policies of our organization should be built.

Management must think of itself not as producing products but as providing customer creating

value satisfaction.

Given their vast choices, the customer will gravitate to the offering that the best meet their

individual needs and expectation. They will buy one of the bases of their perception value.

Therefore it is not surprising that todays winning companies are those succeed best in satisfying

indeed delighting their target customer. They pay extreme attention to quality and service to

meeting and even exceeding customer expectation. They complete vigorously and at the co-operated smartly with their strategy partners in their supply and distribution chain. They pursue

efficiently and yet are responsible and flexible.


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Customer satisfaction is the outcome felt by buyers who have expectation. Customers are

satisfied when their expectation are met and delighted when their expectations are exceeded.

Satisfied customers remain loyal longer, buy more, and are less sensitive and talk favorable

about the company. From this it is clear that the satisfied customer will be less sensitive towards

the fluctuating price and offensive marketing typically cost more than defensive marketing,

because it requires much effort and cost to induce satisfied customers to switch away from their

current suppliers. We should also consider the fact that the cost of attracting a new customer

may be five times the cost of keeping the current customer happy. Therefore the companies are

intending in developing stronger bones and loyalty with their customers.

Benefits Of Customer Satisfaction

The importance of customer satisfaction and support is increasingly becoming a vital business

issue as organization realize the benefits of Customer Relationship Management (CRM) forproviding effective customer service. Professionals working within customer focused business

or those running call centres or help desks, need to keep informed about the latest customer

satisfaction techniques for running a valuable customer service function. From small customer

service departments to large call centres, the importance of developing a valued relationship

with customers using CRM isessential to support customer and long-term business growth.

Need for the Study

Customer satisfaction is an important part of business. It helps to increase sales. Customer

satisfaction has a very important position in the current world because of the stiff competition in

the banking industry. Customers will only go for the place where they get the maximum benefits

for what they are spending. Banking industry is now facing stiff competition. So customers will

only prefer SBM if they found something more of value than the competitors in the field. For


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that adequate knowledge about the products and services offered by SBM will be there with the

customers. This study examines the level of satisfaction of the customers of SBM.

OBJECTIVES OF THE STUDY

PRIMARY OBJECTIVES

To study the customers satisfaction towards State Bank of Mysore with special

reference to Chennai Main bank

SECONDARY OBJECTIVES

To identify awareness of the customers towards various products or services of

SBM,

To study the factors influencing customer decision on banking.

To study the level of customer satisfaction towards various products and services

of SBM.

To study the level customer satisfaction towards facilities and services in

Chennai Main branch.


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SCOPE OF THE STUDY

The study covers the customers of STATE BANK OF MYSORE, CHENNAI

MAIN.

The study aimed at analyzing satisfaction of customers of SBM, CHENNAI

MAIN.

The study also aims at suggesting means to improve customer satisfaction

levels.

NEED FOR THE STUDY

To identify the satisfaction level of customer towards different types of service

attributes, by identifying their critical factors.

To study about the bank about their customized products and services, according to the

consumers needed.


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To study the experience and expectations of the existing customers.

To study to improve the current standards of services.

To study the scope of introducing new types of services.

To study about the business tactics followed to stand against the competitors.

Chapter 2

INDUSTRY PROFILE


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INDUSTRY PROFILE

Banking is nearly as old as civilization. The history of banking could be said to havestarted with

the appearance of money. The first record of minted metal coins was in Mesopotamia in about

2500B.C. the first European banknotes, which was handwritten appeared in1661, in Sweden.

Cheque and printed paper money appeared in the 1700s and 1800s, with many banks created to

deal with increasing trade.

The history of banking in each country runs in lines with the development of trade and industry,

and with the level of political confidence and stability. The ancient Romans developed an

advanced banking system to serve their vast trade network, which extended throughout Europe,

Asia and Africa.

The bank of England was formed in 1694 to borrow money from the public for the government

to finance the war of Augsburg against France. By 1709, goldsmith were using bank of England

notes of their own receipts. New technology transformed the banking industry in the 1900s

round the world, banks merged into larger and fewer groups and expanded into other country.


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HISTORY OF THE INDIAN BANKING INDUSTRY

Banking in India has a long and elaborate history of more than 200 years. The beginning of this

industry can be traced back to 1786, when the countrys first bank, Bank of Bengal, was

established. But the industry changed rapidly and drastically, after the nationalization of banks

in 1969.

Indian Banking sector is dominated by Public sector banks (PSBs) which accounted for 72.6%

of total advances for all SCBs as on 31st March 2008. PSBs have rapidly expanded their foot

prints after nationalization of banks in India in 1969 and further in 1980. Although there is a

restrictive entry/expansion for private and foreign banks in India, these banks have increased

their presence and business over last 5 years.

The Indian banking system can be classified into nationalized banks, private banks and

specialized banking institutions. The industry is highly fragmented with 30 banking units

contributing to almost 50% of deposits and 60% of advances. The Reserve Bank of India is the

foremost monitoring body in the Indian financial sector. Banking segments in India functions

under the umbrella of Reserve Bank of India (RBI), the regulatory central bank. This segment

broadly consists of:

commercial banks

co-operative bank


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The commercial banking structure consists of:

Scheduled commercial banks

Unscheduled commercial banks

Schedule Commercial Banks constitute of those banks, which have included second schedule of

Reserve Bank of India (RBI) act 1934. RBI in turn includesonly those banks in thisschedule

that satisfy the criteria laid down vide section 42 (60 of the act) this sub sector can broadly

classified into:

Public sector

Private sector

Foreign sector

STRUCTURE OF INDIAN BANKING SYSTEM


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PRE E-BANKING SCENARIO

Traditional banking

Traditional banks offers many services to their customers ,including accepting customer

money ,deposits ,providing various banking services to customers, and making loans to

individuals and companies. Compared with traditional channel of offering banking services

through physical branches-banking uses the internet to delivering traditional banking to their

customers ,such as opening accounts, transferring funds and electric bill payment.
http://en.wikipedia.org/wiki/File:Scheduled_banking_structure_in_India.png


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E-Banking

E-banking can be offered in two main ways. First the existing bank with physical offices can

also establish an online site and offer banking services to its customers in addition to the regular

channel. For example, SBI is a leader in E-banking, offering walk in ,face to-face branching at

its branches .SBI customers can access their bank account through the internet ,and in addition

to the core E-banking services such as account balance inquiry ,funds transfer and electronic

bill payment.

Generally ,E-banking is provided without extra cost to customers .Customers are attracted by the

convenience of E-banking through the internet and ,in turn ,banks can operate more efficiently

when customer perform transaction by themselves rather going to a branch and dealing with a

branch representatives. One of the main concerns of E-banking in our country continues to be

security.

OPPORTUNITIES IN THE INDIAN BANKING

INDUSTRY

The Banking sector is considered the most lucrative option in todays job market. One could

work as a banking officer, probationary officer ,loan officer, home loan officer ,home loan

agent, loan manager etc. The growth in the Indian Banking Industry has been more qualitative

than quantitative and it is expected to remain the same in the coming years. Based on the

projections made in the "India Vision 2020" prepared by the Planning Commission and the Draft

10th Plan, the report forecasts that the pace of expansion in the balance-sheets of banks is likely

to decelerate.


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The total asset of all scheduled commercial banks by end-March 2010 is estimated at Rs 40,

90,000 crores. That will comprise about 65 per cent of GDP at current market prices as

compared to 67 per cent in 2002-03. Bank assets are expected to grow at an annual composite

rate of 13.4 per cent during the rest of the decade as against the growth rate of 16.7 per cent that

existed between 1994-95 and 2002-03. It is expected that there will be large additions to the

capital base and reserves on the liability side.

The Indian Banking Industry can be categorized into non-scheduled banks and scheduled banks.

Scheduled banks constitute of commercial banks and co-operative banks. There are about

67,000 branches of Scheduled banks spread across India. As far as the present scenario is

concerned the Banking Industry in India is going through a transitional phase.

PUBLIC SECTOR BANKS

The Public Sector Banks (PSBs), which are the base of the Banking sector in India account for

more than 78% per cent of the total banking industry assets. Unfortunately they are burdened

with excessive Non Performing assets (NPAs), massive manpower and lack of modern

technology. On the other hand the Private Sector Banks are making tremendous progress. They

are leaders in Internet banking, mobile banking, phone banking, ATMs. As far as foreign banks

are concerned they are likely to succeed in the Indian Banking Industry.

PRIVATE SECTOR BANKS


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Private Sector Banks operating are IDBI Bank ING Vyasa Bank, SBI Commercial and

International Bank Ltd, Bank of Rajasthan Ltd. and banks from the Public Sector include Punjab

National bank, Vijaya Bank, UCO Bank, Oriental Bank, Allahabad Bank among others. ANZ

Grind lays Bank, RBS Bank, American Express Bank Ltd, Citibank are some of the foreign

banks operating in the Indian Banking Industry.

Chapter 3


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Company Profile

COMPANY PROFILE

INTRODUCTION

State Bank of Mysore was established in the year 1913 as Bank of Mysore Ltd. under the

patronage of the erstwhile Govt. of Mysore, at the instance of the banking committee headed by

the great Engineer-Statesman,Late Dr.Sir M.Visvesvaraya. Subsequently, in March 1960,the

Bank became an Associate of State Bank of India.State Bank of India holds 92.33% of shares.

The Bank's shares are listed in Bangalore, Chennai,and Mumbai stock exchanges.

BRANCH NETWORK
http://text.statebankofmysore.co.in/index.php?option=com_content&view=article&id=24&Itemid=62http://text.statebankofmysore.co.in/index.php?option=com_content&view=article&id=24&Itemid=62


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The Bank has a widespread network of 725 branches and 22 extension counters spread all over

India which includes 5 Small and Medium Enterprises Branches, 4 Industrial Finance branches,

3 Corporate Accounts Branches, 6 Specialized Personal Banking Branches, 10 Agricultural

Development Branches, 3 Government Business branches, 1 Asset Recovery Branch and 8

Service Branches, offering wide range of services to the customers.

HUMAN RESOURCES

The Bank has a dedicated workforce of 9926 employees consisting of 3179 supervisory staff,

6747 non-supervisory staff . The skill and competence of the employees have been kept updated

to meet the requirement of our customers keeping in view the changes in the environment.

ORGANIZATIONAL SET UP

While the Chairman of State Bank of India is also the Chairman of the Bank, The Managing

Director is assisted by a Chief General Manager and 6 General Managers.

PRODUTS AND SERVICES FROM SBM

Personal Banking

Deposit schemes

Savings Bank account Personal finances


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Public Provident Fund

Reverse Mortgage Loan

Special Housing Loan Product

NRI Services

Business Banking

SME financing

MSME Care Centre

Financing Trade & Services

Gold card for exporters

Debt restructuring for SME

Social and Rural Banking

Welfare Measures

Agriculture Finance

Micro Finance

No Frill Accounts

SHG Finance

Kalpatharu Grameen Bank

Cauvery Grameen Bank

Kisan Credit Card

Crop Insurance

Other Services

In conjunction with the State Bank Group, SBM has introduced

Insurance/MF/Credit Card


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Demat Services

Custodial Services

International Debit Card

E-payment of Taxes and Duties over Internet

Online Booking of Railway tickets and Online Bill Payments

Multi-City cheques for Business Customer

Chapter 4


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Literature review

LITERATURE REVIEW

Organizations need to retain existing customers while targeting non-customers. Measuring

customer satisfaction provides an indication of how successful the organization is at providing

products and/or services to the marketplace.

Customer satisfaction is an abstract concept and the actual manifestation of the state of

satisfaction will vary from person to person and product/service to product/service. The state of

satisfaction depends on a number of both psychological and physical variables which correlate

with satisfaction behaviors such as return and recommend rate. The level of satisfaction can also

vary depending on other factors the customer, such as other products against which the customer

can compare the organization's products.


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Work done by Parasuraman, Zeithaml and Berry (Leonard L) between 1985 and 1988 delivered

SERVQUAL which provides the basis for the measurement of customer satisfaction with a

service by using the gap between the customer's expectation of performance and their perceived

experience of performance. This provides the researcher with a satisfaction "gap" which is semi-

quantitative in nature. Cronin and Taylor extended the disconfirmation theory by combining the

"gap" described by Parasuraman, Zenithal and Berry as two different measures (perception and

expectation) into a single measurement of performance relative to expectation.

The usual measures of customer satisfaction involve a survey with a set of statements using a

likert or scale. The customer is asked to evaluate each statement in terms of their perception andexpectation of performance of the service being measured.

Why Organizations Focus on Customer Satisfaction?

Businesses monitor customer satisfaction in order to determine how to increase their customer

base, customer loyalty, revenue, profits, market share and survival. Although greater profit is the

primary driver, exemplary businesses focus on the customer and his/her experience with the

organization. They work to make their customers happyand see customer satisfaction as the key to survival and profit. Customer satisfaction

in turn hinges on the quality and effects of their experiences and the goods or services

they receive.

What is Customer Satisfaction?

The definition of customer satisfaction has been widely debated as organizations


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increasingly attempt to measure it. Customer satisfaction can be experienced in a variety

of situations and connected to both goods and services. It is a highly personal assessment

that is greatly affected by customer expectations. Satisfaction also is based on the

customers experience of both contact with the organization (the moment of truth

as it is called in business literature) and personal outcomes.

Customer Satisfaction Surveys

Surveys and questionnaires are the most common marketing research methods. Typically, they

are used to: assess the level of customer satisfaction with a particular product ,service orexperience; identify factors that contribute to customer satisfaction and dissatisfaction;

determine the current status or situation of a product or service; compare and rank providers;

estimate the distribution of characteristics in a potential customer population; or help establish

customer service standards.

Experts take on Customer Satisfaction

According to D.M. Mahaptra The business line April 11 - 2008(page 4)

The working of the customer's mind is a mystery which is difficult to solve and understanding

the nuances of what customer satisfaction is, a challenging task. This exercise in the context of

the banking industry will give us an insight into the parameters of customer satisfaction and

their measurement. This vital information will help us to build satisfaction amongst the

customers and customer loyalty in the long run which is an integral part of any business. The

customer's requirements must be translated and quantified into measurable targets. This provides

an easy way to monitor improvements, and deciding upon the attributes that need to be

concentrated on in order to improve customer satisfaction. We can recognize where we need to

make changes to create improvements and determine if these changes, after implemented, have

led to increased customer satisfaction. "If you cannot measure it, you cannot improve it." -

Lord William Thomson Kelvin (1824-1907).


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According to Megha Trivedi the Economics times December 7 2009 (Page 7)

Customer satisfaction has become a major source of concern in retail banking business. With

exceptional progress in the establishment of banks in India, banks are increasingly interested in

retaining existing customers and targeting new customers. In this paper, it is proposed that

quality of service is an indicator of customer satisfaction. Measuring service quality involves

objective feedback about existing customers of ICICI bank with respect to their expectations and

services offered. Performance of a bank may be evaluated with regard to a set of satisfaction

parameters that indicate the strengths and weaknesses of an organization. Standard scale of

SERVQUAL developed by Parasuraman et al. has been used to conduct the survey. This study

is based on five overall dimensions of customer satisfaction with services provided by ICICI.

The five dimensions used to measure service quality are tangibility, reliability, responsiveness,

assurance and empathy. This study gives useful insights to boost customer satisfaction towards

ICICI

According to IIBF Vision Vol II 2012 s

Customer satisfaction represents a modern approach for quality in enterprises and organizations

and serves the development of a truly customer-focused management and culture. Measuring

customer satisfaction offers an immediate, meaningful and objective feedback about clients

preferences and expectations. In this way, companys performance may be evaluated in relation

to a set of satisfaction dimensions that indicate the strong and the weak points of a business

organization. This paper presents an original customer satisfaction survey in the private bank

sector. The implemented methodology is based on the principles of multi criteria analysis and

preference disaggregation modeling. The most important results are focused on the

determination of the critical service dimensions and the segmentation to customer clusters with

distinctive preferences and expectations.


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Chapter 5


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Research

methodology

RESEARCH METHODOLOGY

TYPE OF RESEARCH USED

Descriptive Research

Descriptive research includes survey and fact finding enquiries of different kinds. The major

purpose of descriptive research is a description of the state of affairs as it exists at present. The

main feature of this type of research is that the researcher has no control over the variables. He

can only report what has happened or what is happening


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Research Design

A research design is the arrangement of conditions for collections and analysis of data in a

manner that aims to combine relevance to the research purpose with economy in procedure. In

fact, the research design is the conceptual structure within which research is conducted: it

constitutes the blueprint for the collection, measurement and analysis of data

DEFINITION OF KEY TERMS

Descriptive research

Descriptive research includes surveys and fact-finding enquiries of different kinds. The major

purpose of descriptive research is description of the state of affairs as it exists at present

Convenience Sampling

When population elements are selected for inclusion in the sample based on the ease of access, it

can be called convenience sampling


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Population

All the items under consideration in any field of enquiry constitute a universe or population

Sample Size

This refers to the number of items to be selected from the universe to constitute a sample. The

size of the sample should neither be excessively large, nor too small, It should be optimum

Sampling unit

A decision has to be taken concerning a sampling unit before selecting a sample, it may be an

individual

Sampling error

Sample surveys do imply the study of a small portion of the population and such there

would naturally be a certain amount of inaccuracy in the information collected. This inaccuracy

may be termed as sampling error. Sampling errors are those errors which arise on account of

sampling and they generally happen to be random variations in the sample estimates around the

true population values.

Population/Universe

The population for the study consists of customers of SBM in Chennai Main


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SOURCES OF DATA

Primary Data: - Questionnaires were used for collecting primary data

Secondary Data: Secondary data were collected from previous studies, IIBF journals,

websites and SBMs intranet facility called SBM NEST.

SAMPLING METHOD

Convenience Sampling-

When population elements are selected for inclusion in the sample based on the ease of access, it

can be called convenience sampling

SAMPLE SIZE

Sample size chosen for the purpose of the study is 50 clients of SBM Chennai Main


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TOOLS FOR ANALYSIS

The major statistical tools used for the purpose of this study are:

Percentage

Pie chart

Bar chart

Column chart


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Chapter 6

Data analysis and

Interpretation

1.AGE PROFILE OF RESPONDENTS

Age Group No. respondent In %

40 15 30

Total 50 100


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Interpretation

This table shows that 10% of the respondents are less than age of 20, 60% of the respondents are

in between 20-40 and 30% of the respondents are above age of 40.

2. GENDER PROFILE OF RESPONDENTS

Category No of respondent Response in %

MALE 32 64

FEMALE 18 36

TOTAL 50 100


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Interpretation

This table shows that 64% account holders are males and 36% of account holders are females.

3. Are you aware about the following products and services being

offered by the bank?

factors Yes % No %

Money transfer 32 64 18 36

internet banking 29 58 21 42

mobile banking 17 34 33 66


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Interpretation

64% of the respondents are aware about the money transfer and 36% of the respondents

are not aware about fastmoney.58% of the respondents are aware about the internet and 42% of

the respondents are not aware. 34% of the respondents are aware about mobile banking and rest

of the respondents is not aware.

4. How satisfied are you with our cheque clearing facilities?

Factors No of respondents Response %

Highly satisfied 20 40

Satisfied 15 30

Neither satisfied nor

dissatisfied

5 10

Dissatisfied 10 20

Highly dissatisfied - -

Total 50 100


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Interpretation

from the above table and graph it is clear that 40% of the respondents are highly satisfied,30%

of the respondents are satisfied,1o% of the respondents are neither satisfied nor dissatisfied and

20% of the respondents are highly dissatisfied


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5. What are the factors you look in a bank when you decide to start a

banking relationship?

(assign scores totalling to 100)

Weighted Average Score obtained from respondents

Factors Total

Branch network 28

ATM network 45

Personalization of Product 15

Service Charges 10

Others 2

Interpretation:

In this question it is asking about the reason for deciding the relationship and the respondent has

given prime consideration for the wide Branch network and has given 28 points, second ATM

rank is 45points, third product personalization is 15 points,Service charges gets 10 points, and

other factors is given 2 points.


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6. How satisfied are you with interest rate for deposits at our bank?

Factors No of respondents Response in %Highly satisfied 10 20

Satisfied 20 40

Neutral 5 10

Dissatisfied 10 20

Highly dissatisfied 5 10

Total 50 100

Interpretation

20% of the respondents are highly satisfied, 30% of the respondents are satisfied ,10% of the

respondents are neither satisfied nor dissatisfied and 16% of the respondents are dissatisfied and

14% of the respondents are highly dissatisfied.

7. How would you rate our ATM facilities?


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Interpretation

40% of the respondents are highly satisfied, 30% of the respondents are satisfied ,4% of the

respondents are neither satisfied nor dissatisfied and 20% of the respondents are dissatisfied and

6% of the respondents are highly dissatisfied.

Factors No of respondents Percentage


Satisfied 15 30

Neutral 2 4

Dissatisfied 10 20Highly dissatisfied 3 6

Total 50 100


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8. Are you satisfied with DD services?

Factors No of respondents percentage


Satisfied 15 30

Neither satisfied nor

dissatisfied

10 20

Dissatisfied 5 10

Highly dissatisfied 10 20

Total 50 100

Interpretation


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From the above table and graph it is clear that 34% of the respondents are highly satisfied,30%

of the respondents are satisfied,16% of the respondents are neither satisfied nor dissatisfied and

12% of the respondents are dissatisfied 8% of the respondents are highly dissatisfied.

9. Would you recommend our bank to a friend, relative or an associate?

Factors Yes No May be

respondents 19 18 13% 38 36 26

Interpretation

38% of the customers are willing to recommend, 36% of the customers are not willing to

recommend and remaining customers are neutral.


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10. Is the Bank accessible to you easily?

Response No of respondents Response in %

Yes 30 60

No 20 40

total 50 100

Interpretation

From the above graph we can interpret that only 60% of customers can access the bank and

rest of the customers find it difficult / cant access the bank.


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11. Rate your level of satisfaction with the service of our staff.

Interpretation

Factors No of respondents Response in %


Satisfied 12 24

Neutral 6 12

Dissatisfied 5 10

Highly satisfied 3 6Total 50 100


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48% of the customers are highly satisfied, 24% of the customers are satisfied, 12% of the

customers dont have any opinion 10% of the customers are dissatisfied and 6% of the

customers are highly dissatisfied

12. Overall Service quality of SBM

Factors No of respondents Percentage

Average 16 32

Good 19 38

Very good 10 20

Excellent 0 0

Poor 5 10

Total 50 100


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Chapter 7

FINDINGS AND

SUGGESTIONS


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FINDINGS

70% of the customers think that the bank caters all their banking needs.

64% of the customers are having the opinion that SBM offers competitive interest rates.

The rest 36% are dissatisfied with the interest rates.

60% of the customers are having the opinion that SBM offers competitive service

charge.

64% of the respondents are using the service of other banks.

20% of the respondents rate the overall services quality of SBM as very good,32% as

average,38% as good and 10% as poor.

42% of the respondents says that SBM have to improve their customer service ,38%of

the respondents says to avoid delay in response and 20% had opined to improve the

product range offered.

38% of the respondents recommend SBM to others because of its personalized services

offered, while 36% says no.

75% of the respondents look for the branch network when they decide to start a

relationship .ATM network, customer service; choice of product occupies the consequent

position.


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Majority opts for SBM because of their personalized service. Wide branch network,

customer service, 100% core banking are the other factors respectively.

64% of the respondents are aware of fast money ,58% of the respondents are aware of

internet banking and 34% are aware of mobile banking

10% of the lady customers are satisfied with the facilities available at the SBM.4% are

dissatisfied while 6% have no opinion

60% of the respondents agree with the accessibility to the bank and 40 % of the

respondents do not agree.

40% are satisfied with the parking facilities of the bank while 60% are not satisfied with

the parking facilities.

80% of the customers agree that the building is spacious.20% disagree.

48% of the respondents are highly satisfied, 24 % of the respondents are satisfied by the

part of bank staffs, 12 % of the respondents are neither satisfied nor dissatisfied by the


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part of bank staffs, 10 % of the respondents are dissatisfied by the part of bank staff and

remaining 6 % of the respondents are highly dissatisfied.

SUGESSTIONS

Majority of the respondents are satisfied by the service of bank, but some of the areas where the

bank needs to improve on according to the respondents are:

Provide SMS alert to all the customers (Currently being offered only to SB A/c holders)

Provide competitive interest rate in both deposit and Loans.


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Make necessary steps to reduce the loan processing period which now takes 15 days.

Conduct customer awareness and training programs in order to make them aware and use

internet banking and mobile banking so that it saves a lot of transaction time of the

customers.

SBM should provide provisions for door-to-door service in the case of opening of a new

account.

Increase the number of counters so that the customer need not have to wait for a long

time for the transaction.

Provide uninterrupted banking i.e. without any breaks during the banking hours.

(Currently lunch hours are from 2:00 pm to 2:30pm)

Introduce Dynamic Queue System as followed in SBI.

Introduce Privilege banking for HNI and NRI customers.

Cleanliness of banking hall can be improved

Introduce Customer Service Assistants as in ICICI Bank to help filling up forms, challans

etc.

Make arrangements for better parking facility.

Information brochures regarding banks product can be distributed/ kept in ATMs.

CONCLUSION

The project entitled Customer satisfaction in State Bank of Mysore with special reference

to Chennai Main branch has helped me in studying satisfaction about services and products

offered to customers. Since the opening up of the banking sector, private banks are in the fray


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each one trying to cover more market share than the other. Yet, SBM is far behind SBI. SBM

must also be alert what with Private Banks (ICICI, HDFC) breathing down its neck.

I am sure the bank will find my findings relevant and I sincerely hope it uses my suggestions

enlisted, which I hope will take them miles ahead of competition.

In short, I would like to say that the very act of the concerned management at SBM in giving me

the job of critically examining consumer satisfaction towards financial products and services of

the company is a step in their continual mission of making all round improvements as a means

of progress I am sure the bank has a very bright future to look forward to and will be a

trailblazer in its own right.


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BIBLIOGRAPHY


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BIBLIOGRAPHY

1.PHILIP KOTLER, Marketing Management, Prentice Hall, 2001

2.PHILIP KOTLER, Marketing Management, Pearson Education, New Delhi,

11th Edition 2002

3.CR KOTHARI, Research Methodology Methods and Techniques, New Age

International Publishers, New Delhi

4.ZEITHMAL ET AL, Services Marketing, Tata McGrawhill Publications

Websites

1 .www.wikipedia.com
http://www.wikipedia.com/http://www.wikipedia.com/


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2 www.businessobjects.com

3 www.yahooanswers.com

4 www.statebankofmysore.com

5 .SBM NEST
http://www.businessobjects.com/http://www.yahooanswers.com/http://www.statebankofmysore.com/http://www.businessobjects.com/http://www.yahooanswers.com/http://www.statebankofmysore.com/


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ANNEXURE

QUESTIONNAIRE

Dear Sir/Madam, Please fill out this Customer satisfaction survey to help us

assess our performance and to serve you better. Rate our services from 1-5


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1- Very Dissatisfied

2- Dissatisfied

3- Neutral

4. Satisfied

5- Very satisfied

1.Name and Account Number

2. Banking with us since:

3.Home Branch:

4. Gender :

5. Are you aware of the following products and services being offered by the bank?

i) Money Tranfer yes [ ] No [ ]

ii) Internet banking yes [ ] No [ ]

iii) Mobile banking yes [ ] No [ ]

6. When you think of SBM what comes to your mind first?

i) Personalized service [ ] ii) Wide branch network [ ] iii) Customer service [ ]

vi) 100 % core banking vii) others (please specify) [ ]


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7. What are the factors you look in a bank when you decide to start a banking

relationship?

i) Wide branch network [ ] ii) ATM network [ ] iii) customer service [ ]

iv) Choice of products [ ] v) others (please specify) [ ]

6. How satisfied are you with Demand Draft services?

7. How satisfied are you with ATM facilities?

8. How satisfied are you with the interest rate of SBM deposits in the bank?

9. How satisfied are you with the loans granted by SBM?

10. How would you rate our cheque clearing facilities?

11. Would you recommend our bank to a friend relative or an associate?

i) Yes [ ] ii) No [ ] iii) may be [ ]

12. Is the Bank conveniently accessible to you?

Yes [ ] No [ ]

13. Are you satisfied with the parking facilities?


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Yes [ ] No [ ]

14. Is the building spacious enough for the various banking processes?

Yes [ ] No [ ]

15. Rate your level of satisfaction based on the attitude of the staff serving you.

16. What do you feel about the overall services quality of SBM bank?

i) average [ ] ii) good [ ] iii) very good [ ] vi) excellent [ ] vii) poor [ ]

17. Which service(s) do you think SBM should include newly?

i) HNI Privelege banking counter [ ] ii) Flexi Deposit [ ]

iii) Automatic Cheque/ Cash deposit Machine [ ]

iv) Uninterrupted banking hours [ ] v) Door Step Banking


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Documents

cust satisfaction