SantoshS 0367 Custimer Satisfaction Survey

M.P.BIRLA INSTITUTE OF MANAGEMENT 1

DISSERTATION PROJECT ON

“CUSTOMER SATISFACTION SURVEY in Bangalore CITY ON DEBIT CARDS”

(With special reference to ICICI Debit Cards)

Submitted in partial fulfillment of the requirement for MBA

Degree of Bangalore University

BY

SANTOSH.D.SHAHAPURMATH

Register Number

03XQCM6089

Under the guidance of

Prof. SUMITRA SREENATH

M.P.Birla Institute of Management

Associate Bharatiya Vidya Bhavan

Bangalore-560001

2003-2005


DDEECCLLAARRAATTIIOONN

I hereby declare that the report titled ´&8720(5�

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%$1.µ prepared under the guidance of Prof. Sumithra

Sreenath in partial fulfillment, of the requirement of MBA

degree of Bangalore University, and is my original work.

This project does not form a part of any report submitted for

degree or diploma of Bangalore University or any other

university.

Place: Bangalore Date: 15.06.2005 SANTOSH.D.SHAHAPURMATH


PRINCIPRINCIPPAL CERTIFAL CERTIFIICCAATETE

This is to certify that Mr. SANTOSH.D.SHAHAPURMATH,

bearing registration No: 03XQCM6089 has undergone a research

project and has prepared a report titled ´&86720(5�

6$7,6)$&7,21� 6859(<� ,1� %$1*$/25(� &,7<� 21� '(%,7�

&$5'6�:,7+�63(&,$/�5()(5(1&(�72�,&,&,�%$1. ” under the

guidance of Prof. Sumithra Sreenath, M P Birla Institute of

Management, Bangalore. This has not formed a basis for the award

of any degree/diploma for any other university.

Dr.NAGESH.S.MALLAVALLI

PRINCIPAL

Place: Bangalore

Date:


GGUUIIDDE E CCEERRTTIIFFIICCAATTEE

I hereby declare that the research work embodied in this

dissertation entitled “CUSTOMER SATISFACTION ON SURVEY IN

BANGALORE CITY ON DEBIT CARDS WITH SPECIAL

REFERENCE TO ICICI BANK” has been undertaken and completed

by Mr. SANTOSH.D.SHAHAPURMATH under my guidance and

supervision.

I also certify that she has fulfilled all the requirements under the

covenant governing the submission of dissertation to the Bangalore

University for the award of MBA Degree.

Place: Bangalore Prof. Sumithra Sreenath

Date: Internal guide

MPBIM, Bangalore


AACCKKNNOOWWLLEEDDGEGEMMEENNTT

The Successful Accomplishment of any task is incomplete without

acknowledging the contributing personalities who both assisted and inspired

and lead us to visualize the things that turn them into successful stories for

our successors.

I wish to acknowledge the assistance of Mrs. Smita sircar

Subramaniam (Regional Product Manager, ICICI Bank) her clarity with

which she set the goal was mainly responsible for the successful completion

of the project. My heartfelt thanks to Mr. Praveen Kumar, whose constant

guidance and patience helped us to finish the project successfully.

My special thanks to my project Guide Prof. Sumithra

Sreenath, who guided us with the timely advice and expertise and

helped us complete the project early. My special thanks to Mr.

Gururaj, who got me the permission to do the project in this

organization and my thanks to friend Jogin , Anand Daniel and

everyone who supported me to do this project.

My sincere gratitude to one and all

Santosh. D. Shahapurmath


List of Tables

Table no:

Title

Page No :

1.

Qualification profile of the customers

36

2.

Customer based on income levels

38

3.

Occupation profile of the customers

40

4.

Customers based on Accout they are holding

42

5.

Influence factors for customers

44

6.

Awareness of facilities offered by the bank

46

7. Facilities availed by the customers

48

8.

Customers based on frequency of Transaction

50

9.

Relative quality

52

10.

Ranking of factors for improvement

55

11.

Satisfaction levels

57

12.

Customers based on referring ICICI bank to others

59

13.

Testing of Hypothesis

62


TABLE OF CONTENTS

Chapter 1. RESEARCH EXTRACT …………………………………………………01 Industry Profile ……………………………………………………… …………04 Company Profile…………………………………………………………………08 Product Profile…………………………………………………………………...10 Chapter 2. INTRODUCTION ……………………………………………………..….13 Background of the study…………………………………………………………13 Statement of the problem………………………………………………………...18 Need and importance of the study…………………………………………….....19 Objectives of the study…………………………………………………………..20 Chapter 3. REVIEW OF LITERATURE……………………………………………..21 Chapter 4. METHODOLODY Type of Research………………………………………………………………...32 Sampling Techniques……………………………………………………………32 Sample size……………………………………………………………………....32 Instrumentation Techniques……………………………………………………...32 Data Analysis…………………………………………………………………….34 Limitations of the Study……………………………………………….…….…...35 Chapter 5. PRESENTATION AND ANALYSIS OF DATA AND

INTERPRETATION………………………………………………………37 Hypothesis……………………………………………………………………….62

Chapter 6 SUMMARY AND CONCLUSION Implications of the Study……………………………………………………….64 Recommendations………………………………………………………………66 Conclusion………………………………………………………………………67 ANNEXURES

Bibliography Questionnaire


Research Extract

As per the requirements of Bangalore University’s MBA course, I have undergone

dissertation study, which I have completed as per the requirements.

The topic of my study is “Customer Satisfaction Survey”, with special reference to ICICI

Debit Cards. ICICI Bank is India’s second-largest bank with total assets of about Rs.1

trillion and network of about 560 branches and offices and over 1,900 ATMs. ICICI Bank

offers a wide range of banking products and financial services to corporate and retail

customers through a variety of delivery channels and through its specialized subsidiaries

and affiliates in the areas of investment banking, life and non-life insurance, venture

capital, asset management and information technology.

“A man without a smiling face and pleasant disposition must not open a shop” according

to Chinese proverb. A customer looks at the seller’s face and senses his interest and

attention, rather than reads his inner mind or feels the hidden concern. In other words,

seller must not only be attentive to his clients’ needs, he must also show it. Thus the

present study was undertaken to get insight in this critical aspect of business, which is not

just retaining customers, but also multiplying their numbers, rather than offer rigid

formulas on the subject, which generally get in the way of common sense and

pragmatism.


APPROACH:

In the first phase of the study the various factors to be analyzed are listed down. These

factors were then investigated from various debit cardholders spread across the city. The

exercise is aimed at estimating the following;

� ICICI’s performance compared to competitors’

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Based on the findings, the recommendations were made to suggest possible follow-up

measures.

ENVIRONMENT:

Various factors have influenced a customer to e satisfied with the debit card service

of ICICI. The factors like accessibility, response to complaints, safety & security,

technical errors, service costs, customer orientation etc are the important aspects that

lead to ultimate customer satisfaction.


IMPLICATIONS:

It is found from the study that most of the respondents are satisfied with ICICI’s

service and are ready to refer ICICI to others.

The most important implication that came out of the study is, ‘Response to

complaints’, ‘service cost’ and ‘Accessibility’ are the three important factors for

customer satisfaction. ICICI’s performance is superior with respect to Accessibility

bit with respect to the other two factors it is equivalent to its competitors.

RECOMMENDATIONS:�� Since it is found that ICIC’s performance is equivalent to its competitors with

respect to response to complaints, Safety & security and service cost the company

need to frame suitable policies to have a Competitive Advantage in the market.

�� Separate ATM machines for women

�� Withdrawal limit to be relaxed

��

�


Industry Profile

India had a fairly well developed banking system in existence at the time

of independence in 1947.The RBI was established in 1935/ While the 1935. While the

RBI became a state owned institution from January 1, 1949, the Banking Regulation Act

was enacted in 1949 providing a frame work for regulation and supervision of

commercial banking activity. The first step towards the nationalization on commercial

banks was the result of a report by the Committee of Direction of All India Rural Credit

Survey. The committee recommended one strong integrated state partnered commercial

banking institution to stimulate banking development in general and rural credit in

particular. Thus, the Imperial Bank was taken over by the Government and renamed as

the State Bank of India (SBI) on July 1, 1955 with RBI acquiring overriding substantial

holding on July 1 , 1955.

A number of erstwhile banks owned by princely states were made subsidiaries of SBI in

1959. There was a feeling that though the4 Indian banking had made considerable

progress in the ‘50s and ‘60s, it had to face many concerns. To meet these concerns, the

Government introduced the concept of social control. The scheme of social control was

aimed at bringing some changes in the management and distribution of credit by the

commercial banks.

Political compulsion then partially attributed to inadequacies of the social control, lead to

the nationalization of 14 major scheduled banks, which had deposits above a cut-off size.

The objective was to serve better the needs of development of the economy in conformity

with national priorities and objectives. Eleven years after nationalization, the Government

announced the nationalization of six more scheduled commercial banks. From the fifties

a number of exclusively state-owned Development Financial Institutions (DFIs) were

also set up both at the national and state level, with an exception of Industrial Credit and

Investment Corporation of India (ICICI) which had a minority private share holding.


Pre-reform status

The regulatory framework for the banking industry under the Banking Regulations Act

circumscribed by the special provisions of the Bank Nationalization Act both of which

had elements of corporate governance incorporated with regard to composition of Board

of Directors. While technically there was a competition between the banks and non-banks

and among banks, substantively, competition was conditioned by policy as well as

regulatory environment, common ownership by the Government and agreement between

the Government of Indian as an owner and the workers represented by the Unions. Each

bank after nationalization, maintained its distinctive identity, governance structure as

incorporated in the concerned legislations provided for a formal structure of relationship

between the RBI, Government, Board of Directors and management. Both Government

and TBI were representation the Board of Directors of the PSBs.

Reform Measures

The major challenge of the reform has been to introduce elements of market incentive

as a dominant factor gradually replacing the administratively coordinated and planned

actions for development. Such a paradigm shift has several dimensions, the corporate

governance being one of the important elements.

During the reform period, the policy environment enhanced competition and provided

greater opportunity for exercise of what may be called genuine corporate element in each

bank to replace the elements of coordinated actions of all entities as a joint family to

fulfill the predetermined plan priorities.

The measures taken for reform were as follows:


First, greater competition was infused in the banking system by permitting entry of

private sector banks and liberal licensing of more branches by foreign banks and the entry

of new foreign banks.

Second, the reforms accorded greater flexibility to the banking system to manage both the

pricing and quantity of resources.

Third, the RBI has moved away from micro-regulation to macro-management.. RBI has

replaced detailed individual guidelines and now leaves it to Individual Banks’ Board to

set their guidelines on credit decisions.

Forth, to strengthen the banking system to cope up with the changing environment,

prudential standards have been imposed in a progressive manner.

Fifth, an appropriate legal, institutional, technological and regulatory framework has been

put in place for the development of financial markets.

Structural Environment of Banking

The nationalized banks are enabled to dilute their equity of the Government of India to

51%, following the amendment of Banking Companies Acts in 1994, bringing down the

minimum Government shareholdings to 51% in PSBs.RBI’s shareholding in SBI is

subject to a minimum of 55%.

The Government proposed in the Union Budget for the financial year 2000-01 to reduce

its holding in nationalized banks to a minimum of 33%, while maintaining the public

sector charter of these banks.

The governance of the banks rests with the Board of Directors. IN the light of

deregulation in interest rates and the greater autonomy given to banks in their operations,

the role of Board of Directors has become more significant. During the years, Boards

have been required to lay down the policies in critical areas such as investments, loans,

asset-liability management and recovery of NPAs.

In 1995, the TBI directed banks to set up Audit Committees of their Boards, with

responsibility of ensuring efficacy of the internal control and audit functions in the bank,


besides compliance with the inspection report of the TBI, internal and concurrent

auditors. To ensure both professionalism and independence, the Charted Accountant

Directors on the Boards of Banks are mandatory members, but the chairman would not be

part of the audit committee. The Boards have also been given the freedom to constitute

any other committees, to render advice to it. With regard to the appointment of

Additional Directors on the Boards of private sector banks, the RBI has been appointing

such directors only in those banks, which are in losses for more than one year.

The Government does appointment of /chairman and Managing Director’s and Executive

Director’s of all PSBs. Government has set up an Appointment Board chaired by t he

Governor, Reserve Bank of India for these appointments. More recently, in case of

appointment of Chief Executive Officer of the PsBs, which is identified as weak, the

Government has formed a Search committee with two outside experts for the

appointment as well as removal of auditors in PSBs.

Self-Regulatory Organizations

India has the distinction of experimenting with Self-Regulatory Organizations in the

financial system since the pre-independence days. The Indian Banks Association

established in 1946 as a voluntary association of banks, strove towards strengthening the

banking industry. Through consensus and co-ordination. Since nationalization of banks,

PSBs tended to dominate IBA and developed close links wit the Government and RBI.

The practice of fixing rates for services of banks was consistent with a regime of

administered interest rates but not consistent with the principle of competition. Hence, the

IBA was directed by the RBI to desist from working out a schedule of benchmark service

charges for the services rendered by member banks.


COMPANY PROFILE

ICICI Bank is India’s second largest bank with a total assets of about Rs 1 trillion and a

network of about 540 branches and offices and over 1000 ATMs.ICICI Bank offers a

wide range of banking products and financial services to corporate and retail customers

through a variety of delivery channels and through its specialized subsidiaries and

affiliates in the areas of investment banking ,life insurance , venture capital ,asset

management and information technology .ICICI Bank’s equity shares are listed in India

on stock exchanges at Chennai ,Delhi ,Kolkata and Vadodara, the stock exchange

Mumbai and the National Stock Exchange of India and its American Depository

Receipts(ADRs) are listed on the New York Exchange (NYSE).

ICICI Bank was originally promoted in 1994 by ICICI Limited , an Indian financial

institution , and was its wholly owned subsidiary.ICICIs shareholding in ICICI Bank was

reduced to 46% through a public offering of shares in India in fiscal 1998, an equity

offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank’s acquisition

of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001 ,and secondary

market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was

formed in 1955 at the initiative of the World Bank, the Government of India and

representatives of Indian industry. The principle objective was to create a development

financial institution for providing medium-term and long-term project financing to Indian

businesses. In the 1990s, ICICI transformed its business from a development financial

institution offering only project finance to a diversified financial services group offering a

wild variety of products and services, both directly and through a number of subsidiaries

and affiliates like ICIC Bank. In 1999, ICIC became the first Indian company and the

first bank or financial institution from non-Japan Asia to be listed on the NYSE.

After considering of various corporate structuring alternatives in the context of the

emerging competitive scenario in the Indian banking industry, and the move towards


universal banking, the managements of ICICC and ICICI Bank formed the vies that the

merger of ICICI with ICICI Bank would be the optimal strategic alternative for both

entities, and would create the optimal legal structure for the ICICI group’s universal

banking strategy. The merger would enhance value for ICICI shareholders through the

merged entity’s access to lo w-cost deposits, greater opportunities for earning fee based

income and the ability to participate in the payments system and provide transaction

banking services. The merger would enhance value for ICICI Banks shareholders through

a large capital base and scale of operations, seamless access to ICICs strong corporate

relationships built up over five decades, entry into new business segments, higher market

share in various business segments, particularly fee-based services, and access to the vast

talent pool of ICICI and its subsidiaries. In October 2001, the Boards of Directors of

ICICI and ICICI Bank approved the merger of ICICI and two of its wholly owned retail

finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital

Services Limited, with ICICI Bank. Shareholders of ICICI and ICICI Bank approved the

merger in January 2002, by the High Court of Gujarat at Ahmedabad in March 2002, and

by the High Court of Judicature at Mumbai and Reserve Bank of India in April 2002.

Consequent to the merger, the ICICI group’s financing and banking operations, both

wholesale and retail, have been integrated in a single entity.


PRODUCT PROFILE

What is Debit card?

A Debit card provides for on-line electronic payment from your savings/ current accounts

for purchases and access to ATM’s for cash withdrawals and enquires. It can be used as a

both as an ATM card and as a method of payment (instead of cash / cheques) when

purchasing goods and services in India and overseas.

What is the difference between a Credit Card and Debit Card?

The Debit Card is a deposit access product where you are using your own money in your

bank account through the Debit Card, whereas the bank can call the Credit Card as an

equivalent of a loan forward whenever you are using it. You get a temporary credit for

an average of 45 days depending on the card issuer and billing cycle.

What is the difference between an ATM Card and Debit Card?

Most of the Debit Card issued by the banks are also ATM cards. Hence they are also

sometimes called as “Debit cum ATM card”. While ATM Cards can only be used to

access cash, Debit Cards can be used to male purchases at retail shops in the same way

credit cards are used. You can identify a Debit Card by the VISA Electron symbol . ICICI

Bank Debit Cards carry the VISA “DOVE” hologram and the VISA Electron flag on the

right hand side. Whereas the ATM card will not have such symbols.

Is a credit check needed to get a Debit Card?

There is no credit check required to apply for a Debit Card. Normally all savings account

and current account holders are eligible for a Debit Card.


How do I know where my card can be used? /Where is the Debit card is accepted?

Your Debit card can be used at any merchant location displaying the Visa / Visa electron

logo and at any ATM displaying the Visa/ PLUS logo. Besides that you can always use

it at any of the ICICI Bank ATM’s as a normal ATM Card. The ICICI Bank Debit

Card is accepted at more than 50,000 merchant establishments/ shops and more than

2,500 ATMs in India. Internationally it is accepted at more than 11 million

establishments and at all Visa ATM’s.

How does the Debit Card work?

All you need to do is present your card to the merchant/ shop that will swipe it through

the electronic terminal and enter the amount of your purchase. You only need to sign the

transaction slip. Your account will be automatically debited for the amount of your

purchase. At ATM’s, the card has to be used with the help of the confidential PIN.

For how long is my Debit Card valid?

Your Debit Card is valid up to the last working day of the month indicated on the card.

How can I get a Debit Card?

If you already have a savings or a current account with ICICI Bank you just have to fill

an application form.

You can apply for the card through any of the following channels:

• Just drop your duly filled application form at any ICICI Bank Branch, or ATM

drop box

• Call our 24 hour customer care center and ask for the Debit Card

• Apply online (you will require an ICICI Bank Internet Banking User ID and

Password)

If you don’t have an account, you will have to open an account first and request for the

Debit Card to be issued.


Are there any transaction limits for the Debit Card?

For ICICI Bank Regular Debit Card, the daily cash withdrawal limits at ATMs and

merchant establishments have been fixed at Rs. 15,000 each. For youngsters Debit Card,

the daily cash withdrawal limits at ATMs and merchant establishments have been fixed at

RS. 1,000 each.

What are the other benefits of the ICICI Bank’s Debit Card Programme?

Itemized billing on the bank statement. You can keep track of your expenditure on the

card as the details of every transaction at the merchant outlet are mentioned in the

monthly bank statement. The details wiled include the name of the merchant, the

transaction amount and the date of the transaction.

Lost Card Insurance

ICICI Bank offers list card insurance, thus making the product more secure and safe.

When you lose the card all you need to do is call up our 24 hour Customer /care Centre

and report the loss. You are protected from any liability arising on the card from the time

the loss is reported to us. No Insurance cover is provided for the cash transactions at

ATMs.

What should I do if my Debit Card is list of damaged?

Immediately inform our 24 hour customer care center / ICICI Bank Branch and request

for a new card. Our customer service representative will inform our Debit Card

operations team for hot listing your existing card and also make a request for new card.

Your new card will be delivered within 7 days, at your communication address, available

in bank records.


INTRODUCTION

In today’s competitive world it has become imperative for companies around the world to

keep a track on what a consumer wants from the various products and services offered to

him; We also need to keep track on the fact that the product features and services are

being perceived the way they were meant to be, and are being used accordingly. It is also

necessary for us to keep a tab on the changing needs of the consumers so that we may

align our products and services accordingly to meet the customer expectations.

This is especially true of financial services sector because of the keen competition

involved and because of the intangible nature of the service provided. The attitude and

perception of the customer play a very important role in determining the success of any

financial product or services. Hence keeping a tab on the changing perceptions and

attitudes of the customer towards product and institution is also a very important job for

any organization.

Apart from customer perceptions and attitudes, customer emotional response also plays a

vital role. Thus we are interested in not just how customers perceive service. But also

how they feel about it. Such feelings, if positive can range from mild {satisfaction} to

extreme {delight}. The depth of feeling generally results from the degree to which the

customers’ perception of service meets or exceeds what the customer expect.


CUSTOMER SATISFACTION “Everyone knows what satisfaction is, until asked to give a definition. Then, it seems,

nobody knows.” This quote of customer satisfaction, express the challenge of defining

this most basic of customer concepts.

Satisfaction is the consumers’ fulfillment response. It is a judgment that a product of

service feature, of the product of the service itself, provides a pleasurable level of

consumption related fulfillment.

In less technical terms, we translate this definition to mean that satisfaction is the

customers’ evaluation of a product or service in terms of whether that product or service

has met their needs and expectations. Failure to meet needs and expectations is assumed

to result in dissatisfaction with the product or service.

Customer satisfaction will be influenced by specific product or service features and by

perceptions of the quality. Satisfaction will also be influenced by customer’s emotional

responses, their attributions and their perceptions of equity.

PRODUCT AND SERVICE FEATURES:

Customer satisfaction with a product or service is influenced by the customer’s

evaluation of product and service features. In conducting satisfaction studies, most firms

will determine through some means what the important features and attributes are for

their service and them measure perceptions of those features as well as overall service

satisfaction

CUSTOMERS EMOTIONS:

Customers’ emotions can also affect their perceptions of satisfaction with a product and

services. These emotions can be stable, pre-existing emotions. Specific emotions may

also be included by the consumption experience itself, influencing a customer’s

satisfaction with the service.


ATTRIBUTIONS FOR SERVICE SUCCESS OF FAILURE:

Attributions (the perceived causes of events) influence perception of satisfaction as well.

When they have been surprised by an outcome consumer tend to look for the reasons, and

their assessment of the reasons can influence their satisfaction.

PERCEPTION OF EQUITY OR FAIRNESS:

Customer satisfaction is also influenced by the perception of equity and fairness.

Customers ask themselves: Have I been treated fairly compared with other customers?

Did other customers get better treatment, better quality services? Did I pay a fair price for

the service? Was I treated well in exchange for what I paid and the effort I expended?

Notions of fairness are central to customers’ perception of satisfaction with the products

and services.

CUSTOMERS SATISFACTION AND SERVICE QUALITY

Practitioners and writers in the popular press tend to use the terms satisfaction and quality

interchangeably but researchers have attempted to be more precise about the meanings

and measurements of the two concepts resulting in considerable debate. Consensus is

growing that the concepts are fundamentally different in terms of their underlying causes

and outcomes. Satisfaction is generally viewed as a broader concept while a service

quality assessment focuses specially on dimensions of services. Based on this view

perceived service quality is a component of customer satisfaction.

Service quality is a focused evaluation that reflects the customer’s perception of specific

dimensions of service reliability responsiveness assurance empathy and tangibles

Satisfaction on the other hand is more inclusive It is influenced by perceptions of service

quality and price as well as situational factors and personal factors.


BUILDING BLOCKS OF SATISFACTION

Service encounters or Moments of truth From the customer’s point of view the most

vivid impression of service occurs in the service encounters, or the moment of truth,

when the customer interacts with the service firm. It is in these encounters that customers

receive a snapshot of the organization’s service qual ity and each encounter contributes to

the customers overall satisfaction and willingness to do business with the organization

again. From the organizations point of view, each encounter thus presents an opportunity

to prove its potential as a quality service provider and to increase customer’s loyalty.

Some services have few encounters and others have many. Mistakes or problems that

occur in the early levels of service cascade are particularly critical, because a failure at

one point results in greater risk for dissatisfaction at each ensuing level.

Types of service encounters:

A service encounter occurs every time a customer interacts with the service organization.

There are three types of service encounters: remote encounters, phone encounters, and

face to face encounters.

As our topic demands remote encounters we will concentrate on them. Encounters,

Which occur without any human interaction is known as remote encounter. Although

there is no human interaction in these remote encounters, each represents an opportunity

for the firm to reinforce or establish quality perceptions in the customer. In the remote

encounter the tangible evidence of the service and the quality of the technical processes

and systems become the primary basis for judging quality.


To make service encounter as a pleasure or displeasure to the customers the following

four sources play a vital role.

Recovery : Employee response to service delivery system failure.

Adaptability : Employee response to customers needs and requests.

Spontaneity : Unprompted and unsolicited employee action.

Coping : Employee response to problem customers.


STATEMENT OF THE PROBLEM

The title of the project is a study on customer satisfaction with a special reference to

ICICI debit card holders. The main aim of the institution is to provide good services to

the customers and maintaining good relations with them. ICICI is successfully rendering

services to its customers throughout India with many competitors emerging in the field. It

holds good amount of market share in banking sector. The quality of service at ICICI is

found good compared to other players. ICICI is coming up with many banking products

to fulfill the needs of customer. ICICI wants to increase its market share by retaining its

loyal customers and attracting new one. So to retain and attract new customer’s

satisfaction of the existing customers play a major role.

The information generated by the study will help in making better decisions. The study is

confined to Bangalore city only. The study attempts to determine the various factors and

levels of satisfaction of the existing customers.


NEED AND IMPORTANCE OF THE STUDY

Individual firms have discovered that increasing levels of customer satisfaction can be

kinked to customer loyalty and profits. There is an important relationship between

customer satisfaction and customer loyalty. This relationship is particularly strong when

customers are very satisfied. Thus the firms that simply aim to satisfy customers may not

be doing enough to engender loyalty, they must instead aim to more than satisfy or even

delight their customers.

Clear linkages between customer satisfaction , loyalty and firm profitability have insisted

many companies to spend more time and more understanding the underpinnings of

customer satisfaction and ways that they cam improve.


OBJECTIVES OF THE PROJECT

The project was designed as a preliminary step to understand the pulse of the customer

towards a financial institution and a financial product and service with special reference

to ICICI .Based on the conclusions and recommendations of the report a more extensive

study would be commissioned. The objectives of the project are as follows:

• To discover customer requirements and expectations regarding debit card

services.

• To monitor and track service performance.

• To trace the factors and their importance that keep the customers satisfied

• To identify dissatisfied customers and study the factors leading to their

dissatisfaction

• To suggest suitable measures to tackle or handle dissatisfying factors/ dissatisfies.

• To assess overall performance of ICICI’s debit card service and its position in the

whole debit card market or its competitive advantage over others in the field


REVIEW OF LITERATURE

TYPES OF RESEARCH

1 Exploratory research:

The research includes different options. They are:

It is usually a small scale study undertaken to define the exact nature of f problem and

to gain better understanding of the environment within which the problem has

occurred, It is the initial research, before more conclusive research is under taken.

Exploratory research helps determine the best research design, data collections

methods and selection of subject.

2. Descriptive research

It is to provide an accurate picture of some aspects of market environment. It seeks to

ascertain certain magnitudes. Descriptive research is used when the objective is to

provide a systematic description that is as factual and accurate as possible. It provides

the number of times some thing occurs. Or frequency, lends itself to statistical

calculations such as determining average number of occurrences or central tendencies.

3. Casual research:

If the objective is to determine which variable might be causing a certain behavior that is

whether there is a cause and effect relationship between variables, casual research must

be undertaken. In order to determine causality, it is important to hold the variable that is

assumed to cause the change in the other variable constant and then measure the changes

in the other variable This type of research is very complex and the researcher can never

be completely certain that there is no other factors influencing the casual relationship

especially when dealing with the people’s attitudes and motivations.


Data sources:

The sources of data include either secondary data or primary data and even some times

the combination of both..

Secondary data are readily available, because they were collected for some other purpose

and which can also be used to solve the present problems. They are the cheapest and the

easiest method of access to information. But for the present study the secondary data

available did not give the required information, hence more concentration is on primary

data.

Primary data are collected with a specific objective oriented especially to address the

specific research problem. They are the new data gathered to help solve the problem.

Primary data can be collected in many different ways, they are

Survey research: Surveys are best suited for descriptive research. This research is done

to learn about people’s knowledge, beliefs, preferences and satisfaction, and to measure

these magnitude in the general population. Surveys can be designed to capture a wide

variety of information on many diverse topics.

Observational research Observing the relevant settings can generate fresh data. The

researcher might just keep looking at the respondents and note down their behavior or

their reactions.

Experimental research: The most scientifically valid research is experimental research.

The purpose of experimental research is to capture cause and affect relationships by

eliminating competing expiations of the observed findings.


Research Instruments:

Researches have a choice of two main research instruments in collecting primary data

they are,

Questionnaires: A questionnaires consists of a set of questions presented to respondents

for their answers. While preparing the questionnaires, the researcher has to carefully

choose the questions and their forms and sequence them in proper order. The sequence

should be in a logical order. The form of questions asked can influence the response. The

questions can be open-ended or close-ended. An open-ended question allows the

respondents to answer them in their own works. These questions always reveal more

because they do not constrain respondent’s answer.

The close-ended questions pre specify all the possible answers. These questions provide

answers that are easier to interpret and tabulate.

The questionnaire must be simple, direct, un-biased and wording should be pre-tested

with a sample of respondents before it is used. The main thing is that a questionnaire

should create interest among the respondents.

Observations: For the given project the observations have played an important role, as

the information about the project is not fully structured. Hence there was a need to

consider this technique for this research. The observation includes certain information to

be generated informally speaking and getting the knowledge about the service provided

by ICICI.


Sampling:

The researcher now decides on the sampling plan. Here he has the following options.

��Population: Who is to be surveyed? The researcher must define the target

population that will be sampled.

��Sample unit: Once the population is determined, a sampling unit must be

developed, then the sampling frame, so that everyone in the target population has

an equal chance of being sampled.

��Sampling method: The selection of sample includes probability sampling and

non-probability sampling (chance).

��Sample size: How many people should be surveyed? It is not necessary to sample

the entire target population. The selection of sample size depends on accuracy of

the data required. Often less than one percent of samples can provide good

reliability, given a credible sampling procedure.

��Sampling procedure: How should the respondent be chosen? To obtain a

representative sample, a non-probability sample can be drawn, they are

o Convenience sample: The researcher selects the most accessible

population members.

o Judgment sample: The researcher selects population numbers who are

good prospects for accurate information.

o Quote sample: The researcher finds and interviews a prescribed number

of people in each of several categories.


Contact methods:

Once the sampling is done, the researcher must decide how to go about actual research.

The most adaptable method is personal interview. The researcher can ask more questions

depending on the situation and record additional observation about the respondents. The

other methods include mail, telephone, or online interviews.

Now the next step in collect information using the above-mentioned date collecting

techniques. This is followed by the date analysis.

Data analysis:

After the data have been collected from the actual respondents, the next step in the

research process is data analysis. The purpose of this analysis is to interpret and draw

conclusions from the collected date. Here a four-step procedure is followed for date

analysis.

¾�Editing.

¾�Coding.

¾�Data entry.

¾�Tabulation.

1. Editing: It involves checking for researcher and respondents mistakes. The mistakes

can be as follows,

¾�The researcher must have failed to ask some questions or record answers for

certain questions.

¾�The researcher may not follow the skip patter. [The requirement to pass over

certain questions in response to respondent’s answer to a previous question is

called skip pattern].

¾�Responses to open-ended questions are checked.


2 .Coding: It the process of grouping and assigning numeric codes to the various

responses to a question. Most questions in the questionnaire are close-ended and

proceeded. This means that numeric codes have been assigned to various responses on

the questionnaire itself. But the open-ended questions are another matter. They are stated

open-ended because the interviewer either had what answers to expect or wanted richer

response than is possible in close-ended questions. The open-ended questions can also be

coded but it is again a very time consuming process.

3. Data entry refers to the process of converting information from a form of actual data

into numerical form, which can be read by the computer.

4. The next step is to tabulate the survey results. The most basic tabulation is making into

frequency table. Frequency table is a table showing the number of responses to each

answers of a survey question. In addition to frequencies, these tables typically indicate

the percentage of those responding to a question that gave each possible response.


GRAPHIC PRESENTATION OF DATA

Graphic presentation involves the use of pictures rather than tables to present research

results. Statistical analysis helps company to identify important findings. Graphs are the

best way to present those findings and they are eye catching which makes easy for the

readers to understand the facts properly and quickly.

PIE CHART: Pie chart is frequently used types of graphs. They are appropriate for

displaying marketing research results in a wide range of situations. In a pie chart,

different segments of a circle represent percentage contribution of various components to

the total. This chart is very useful because it clearly brings out the relative importance of

various components. For drawing a pie chart, we construct circle and this is broken into

various segments. Angle 360 represents 100% and the corresponding angles for each

component can be found out by multiplying 360 with percentage of the component.

BAR CHART: Bar charts are the more flexible types of graphs. Many things that

cannot be shown, or effectively shown, with other types of graphs can readily be shown

with bar chart. In bar charts we make use of rectangles to present the given data. The

types of bar charts are:

¾�Plain bar chart: These are the simplest form of bar chart.

¾�Clustered bar chart: Clustered bar charts are useful for showing the results of

cross tabulations.

WEIGHTED AVERAGE METHOD: This method is best suitable for rank data. In

this method the ranks given by the researchers are assigned some weights. These weights

are then multiplied by the ranks given and the total respondents to get the weighted

average divided the total of all the products of a particular attribute. The attribute, which

has greater weighted average, is considered as the greatest and given top priority.


TOOLS USED FOR TESTING HYPOTHESIS

A hypothesis is the tentative explanation for something. It frequently attempts to answer

the questions “How “& “Why” at one level, a Hypothesis may simply suggest how a

particular variable is related.

At a more theoretical level hypothesis may offer a reason (Why) for the way that

particular variable was selected. Generally speaking, it is a logically organized set of

proposition, which serves to define the events, describe the relation ships among these

events and explain the occurrence of these events.

By hypothesis, we mean a statement about the population parameters. Hypothesis testing

deals with a procedure which accepts or rejects the hypothesis. There are two types of

hypothesis

Null hypothesis

It states that there is no significance difference is due to the random fluctuations. Ho

denotes the null hypothesis.

Alternative hypothesis

Incase the null hypothesis is rejected; we should have an alternate hypothesis to accept.

Alternate hypothesis is denoted by H1

Types of Errors:

While testing hypothesis, there are four possible combinations between the population

value and sample value. The four combinations are:

Hypothesis is true and tests accept is.

Hypothesis is true and tests reject is (Type I error).

Hypothesis is false and tests accept is (Type II error).

Hypothesis is false and tests reject it.


Level of significance

It is nothing but the probability of rejecting a true hypothesis. It represents the level of

ULVN�WKH�H[SHULPHQW�LV�UHDG\�WR�WDNH�LQ�UHMHFWLQJ�D�WUXH�K\SRWKHVLV�DQG�GHQRWHG�E\� .�� -.�gives the level of confidence of the experiment in taking the decision. It is always

preferable to keep the level of significance at a low percentage. It means that we should

QRW�UHMHFW�D�WUXH�K\SRWKHVLV� ��UHSUHVHQWV�WKH�ULVN�RI�DFFHSWLQJ�D�IDOVH�K\SRWKHVLV�� -��LV�called the power of the test.

Acceptance region

This reprehends the region within which the calculated value of the statistics must lie to

accept the null hypothesis. If calculated value lies in this region, thin the null hypothesis

will be rejected.

Hypothesis testing procedure (steps)

1. Set up a null hypothesis denote by Ho. This means there is no significant

difference between sample value and population value. Incase if Ho is rejected,

we must have an alternate hypothesis is H1. So we wet up an alternate hypothesis.

2. Select the level of significance.

3. Select an appropriate distribution for the test, which is known as test statistics.

The distribution, Fisher ‘F’ distribution or Chi -VTXDUH� ��GLVWULEXWLRQ

4. Calculate the necessary values from the given data for the test.

5. Make conclusion from testing. If calculated value is less than the tabulated value,

Ho is accepted. Else H1 is accepted rejecting Ho.


Chi-square Test: It is a non-parametric test. It describes the magnitude of discrepancy between observed

value and expected value. Higher the value of Chi-square ��, greater the discrepancy

between the observed values from sample to sample. It is a statistic whose value is

always positive and varies form zero to infinity, It is the sum of difference between the

expected value and observed value.

This distributioQ�LV�D�OLPLWLQJ�DSSUR[LPDWLRQ�RI�PXOWLQRPLDO�GLVWULEXWLRQ�ZLWK� ��DV�WKH�PHDQ�DQG�� QX��DV�WKH�YDULDQFH�RI�WKH�GLVWULEXWLRQ��7KH�WHVW�GHSHQGV�RQ�WKH�VHW�RI�REVHUYHG�DQG�H[SHFWHG�DQG�WKH�GHJUHH�RI�IUHHGRP� ��QX��,W�LV�D�FRQWLQXRXV�GLVWULEXWLRQ��which can be applied to discrete random variables.

Degree of Freedom (DOF) It is the number of classes to which the values can be assigned arbitrarily without

violating the restrictions or limitations placed. It is calculated using the following

formulae.

DOF = (r-1)*(c-1) where r is the no. of rows

C is the no. of columns

DOF = (n-1), where n in the no. of pairs of observed and expected values.

Condition for Applying Chi-square Test

¾�The total sample size must be reasonably large.

¾�No theoretical cell frequency should be less than 5. In case, the cell frequency is

less than 5, then ‘Yates’ correction factor will be applied.

¾�The constraints on the cell frequency, if varies, should be linear.


Uses of Chi-square Test ¾�It is used as a test of independence of attributes. This test brings association, if

any, between the attributes.

¾�It is used as a test of goodness of fit. In other words, it tests whether the given set

of observation will fit into the distribution (Normal, Binomial etc…)

It is used as a test of homogeneity. In other words, it tests whether a set of readings are

more uniform or non-uniform. So with this test we can determine whether two or more

independent random samples are drawn from the same population or not.


METHODOLOGY 1. TYPE OF RESEARECH: A combination of descriptive and exploratory research was

undertaken to study the satisfaction levels of ICICI debit cardholders.

A} The descriptive research is undertaken, as it intends to know about the customers’

satisfaction level, awareness towards the facilities available and also the knowledge about

the competitors’ status.

B}The exploratory research: It is undertaken to find customers’ expectations so as to

make it easy for the company in making decisions.

2. SAMPLING TECHNIQUE

2.1) POPULATION: The information is generated form customers if ICICI bank within

the Bangalore city.

2.2) SAMPLING UNIT: Customer are randomly selected at various ICICI ATM

centers.

2.3) SAMPLING METHOD: The selection of customers is non-probability (chance).

Customers are interviewed directly while transacting in the ATM centers.

3) SAMPLE SIZE: 100 customers in Bangalore city wire randomly selected. The

customers were interviewed in various ATM centers in the Bangalore city.

4) INTRUMENTATION TECHNOQUES

A.QUESTIONNAIRE: The research instruments used here are questionnaires. It world

help in getting maximum information from the customers. The Questionnaire has close

ended questions as the study was specific. Through questionnaire the measurement of

customers’ level of satisfaction and awareness would be easier.


5. ACTULA COLLECTION OF DATA

1. SECONDARY DATA: Secondary data are gathered from numerous sources.

A tedious and time-consuming library research gave desired information. The secondary

data is collected from the internal research, such as;

a. General library research sources.

b. Trade journals.

c. Internet.

2. PRIMARY DATA :

a. Survey research: Questionnaires were used to gather data for the

survey. Survey was designed to capture wide variety of information. This research had

helped to know the satisfaction levels of the ICICI debit cardholders. It had also helped to

learn about the awareness and expectations of the customers.


6. DATA ANALYSIS

The data collected are tabulated according to the responses from respondents using

frequency tables. Each frequency table for each question showing number of respondents

and indicating percentage of those responding to questions that gave each possible

response.

“RELATIVE QUALITY “METHOD

-found the average importance score for each of the factors and expressed it as a

percentage of total score for the factors.

-Found the average score for each of the factors for ICICI.

-Found the average score for each of the factors for competitors.

-Where ICICI’s score for any factor was greater than the competitors’ score by at least

one, transferred the value of “Relative Importance” to “Superior “column.

-Where ICICI’s score for any factor was lower than the competitors’ score by at le ast

one, transferred the value of “relative Importance” to “Inferior” column.

-Where the difference between the ICICI’s score and competitor’s score for any factor is

less than one, transferred the value of “Relative Importance” to “Equivalent” column.

-Calculated the sum of “Superior “and “Inferior” values.

-Relative Quality = (sum of superior) – (sum of inferior).

WEIGHTED AVERAGE METHOD

Ranking of factors for improvements.

-Found the average value of importance for each factor.

-Found the average score for ICICI, for each factor.

-Calculated the weights of each factor as

Weight = importance * 10(best performance)/ ICICI performance

-Ranked the factors based on their weights.


LIMITATIONS OF THE STUDY

¾�The study is confined to Bangalore city

¾�Findings of the study are based on the assumption that respondents have disclosed

accurate information.

¾�The study was limited to 100 respondents because many respondents were

reluctant to respond.


TABLE NO :1

PROFILE OF THE CUSTOMERS BASED ON THEIR QUALIFICATION

SL NO QULIFICATION NO. OF.

RESPONDENTS

PERCENTAGE

1 Under Graduates 16 16

2 Graduates 36 36

3 Post Graduates 48 48

Inference: This table is designed to categorize the respondents on the basis of their qualification.

48% of the customers are post graduates

36% of them are graduates 16% of the customers are undergraduates


Graph no 1:

GRAPH SHOWING QUALIFICATION PROFILE OF THE CUSTOMERS

CUSTOMER QUALIFICATION

16

36

48

1 UnderGraduate2 Graduate

3 PostGraduate


Table no 2:

PROFILE OF THE CUSTOMERS BASED ON THE INCOME LEVELS

SL.NO ANNUAL

INCOME

NO. OF

RESPONDENTS

PERCENTAGE

1 Below 50000 12 14.28

2 50000-75000 8 9.52

3 75000-100000 24 28.57

4 Above 100000 40 47.61

Inference:

This table is designed to calculate the number of respondents from various income

brackets.

47.61% of customer’s annual income falls in the income bracket of above 100000

28.57% of them in the income bracket of 75000-100000

9.52% of customers fall in the income bracket of 50000-75000 14.28% of the customers

have annual income of below 50000.

Here the total numbers of respondents are 84.Remaaining 16 have skipped this question.

Few of them are students.


GRAPH NO : 2

GRAPH SHOWING ANNUAL INCOME PROFILE OF THE CUSTOMERS

INCOME LEVEL OF CUSTOMERS

14.28

9.52

28.57

47.611 Below 500002 5000-750003 75000-1000004 Above 100000


Table no 3 :

PROFILE OF THE CUSTOMER BASED ON THEIR OCCUPATION

SL. NO OCCUPATION NO. OF

RESPONDNTS

PERCENTAGE

1 Employee 60 60

2 Business 12 12

3 Student 24 24

4 Others 04 04

Inference:

This table is created to categorize respondents on the basis of their occupation

60% customers are employees.

12% customers are businessmen.

24% are students.

Remaining 4% are from the other category.


GRAPH NO: 3

GRAPH SHOWING OCCUPATION PROFILE OF THE CUSTOMERS

CUSTOMER BASED ON OCCUPATION

60

1224

40

10

20

30

40

50

60

70

Employee Business Student Others


TABLE NO : 4

PROFILE OF THE CUSTOMERS BASED ON ACCOUNT THEY ARE

HOLDING

SL.NO ACCOUNT NO. OF

RESPONDENTS

PERCENTAGE

1 Savings 55 55

2 Current 09 09

3 Corporate Savings 36 36

Inference:

This table is constructed to measure the number of respondents from various account

categories.

• 36% customers have corporate savings account

• 09% customers hold current account

• Remaining 55% hold savings account


GRAPH NO: 4

GRAPH SHOWING CUSTOMERS ACCOUNT PROFILE

CUSTOMERS BASED ON ACCOUNTS

55%

9%

36%1 Savings2 Current3 Corporate Savings


TABLE NO: 5

PROFILE OF THE CUSTOMERS BASED ON INFLUENCE FACTORS

SL NO INFLUENCE

FACTORS

NO. OF

RESPONDANATS

PERCENTAGE

1 Advertisements 12 12

2 Friends 36 36

3 Sales Executive

From Bank

52 52

Inference:

This table is designed to know the influence factors.

The sales executives of the bank influence 52% of the customers.

36% customers are influenced by their friends.

Remaining 13% are influenced by the advertisements.

Most of the customers who are influenced by the sales executives of the bank hold

corporate savings account


GRAPH NO : 5

GRAPH SHOWING PROFILE OF THE CUSTOMERS BASED ON INFLUENCE

FACTORS

CUSTOMERS BASED ON INFLUENCE FACTORS

12

3652

0

10

20

30

40

50

60

Advertisement Friends Sales Executives ofBank


TABLE NO: 6

PROFILE OF THE CUSTOMERS BASED ON AWARNESS OF FACILITIES

OFFERED ON ICICI DEBIT CARD

SL NO FACILITIES NO OF

RESONDENTS

PERCENTAGE

1 ATM 100 100

2 Merchant

Transaction

100 100

3 Bill Payment 48 48

4 Fund Transfer 16 16

5 Joint Account 12 12

6 Cheque Book 96 96

7 Zero Balance 92 92

Inference: This table is designed to measure the awareness among the customers regarding facilities

offered by the bank.

• There is 100% awareness regarding ATM facility and Merchant Banking

(shopping) facility available to them.

• 48% customers aware of Bill payment facilities offered by the bank.

• Only 16% customers are aware of Fund Transfer facility.

• Only 12% are aware of Joint Account facility.

• 96% customers are aware of Cheque Book facility.

• 92% customers are aware of Zero Balance facility offered by the bank.


GRAPH NO 6:

GRAPH SHOWING AWARENESS OF FACILITIES AMONG THE

CUSTOMERS

AWARENESS OF FACILITIES AMONG CUSTOMERS

0 20 40 60 80 100 120

ATM

Merchant Transaction

Bill Payment

Fund Tansfer

Joint Account

Cheque Book

Zero Balance


TABLE NO :7

PROFILE OF THE CUSTOMERS BASED ON FACILITIES AVAILED BY

THEM

SLNO FACILITIES NO OF RESPONDENTS PERCENTAGE

1 ATM 100 100%

2 Merchant Banking 88 88%

3 Bill Payment 04 04%

4 Fund Transfer 04 04%

5 Joint Account 0 0

6 Cheque Book 72 72%

7 Zero Balance 44 44%

Inference: This table is designed to measure the number of customers who are actually utilizing

the facilities offered by the bank.

• 100% of the customers avail ATM facility.

• 88% of the customers avail Merchant Banking (shopping) facility.

• Only 04% of the customers avail Bill Payment facility.

• Only 04% customers avail Fund Transfer facility.

• No customers avail Joint Account facility.

• 72% avail Cheque Book facility.

• 44% customers avail the Zero Balance facility.


GRAPH NO 7:

GRAPH SHOWING FACILITIES AVAILED BY THE CUSTOMERS

FACILITIES AVAILED BY CUSTOMERS

100%

88%

4%

4%

0%

72%

44%

0% 20% 40% 60% 80% 100% 120%

ATM

MerchantTransaction

Bill Payment

FundTransfer

JointAccount

ChequeBook

Zero Balance


TABLE NO 8 :

PROFILE OF THE CUSTOMERS BASED ON FREQUENCY OF

TRANSACTION

SLNO FREQUENCY NO OF

RESPONDENTS

PERCENTAGE

1 Daily 44 44

2 Weekly 48 48

3 Fortnightly 04 04

4 Monthly 04 04

Inference :

This table is created to know the frequency of transaction. This table reveals that

• 44% customers transact at lest once in a day.

• 48% customers transact weekly.

• Only 04% customers transact fortnightly.

• Only 04% customers transact monthly.


GRAPH NO 8:

GRAPH SHOWING PROFILE OF CUSTOMERS BASED ON FREQUENCY OF

TRANSATION

Daily 44%

Weekly 48%

Fortnightly 4%

Monthly 4%


TABLE NO:9

TABLE SHOWING RELATIVE QUALITY

FACTORS IMPORTANCE

SCORE

RALATIVE

IMPORTANCE

ICICI

PERFORMANCE

COMPETATORS

PERFORMANCE

SUPERIOR EQUIVIVALENT

Accessibility 968 18.30% 8.80 7.28 18.30

Safety and

Security

872 16.49% 8.16 7.44 16.49

Response to

complaints

936 17.70% 7.84 6.96 17.70

Service Cost 744 14.06% 6.56 6.48 14.06

Customer

Orientation

944 17.85% 8056 7.36 17.85

Technical Errors 824 15.58% 7.6 6.4 15.58

Total 5288 100% 51.73


Inference: This table is designed to study performance of ICICI and its competitors on the

common factors

• Total importance score of all the factors/

• It shows relative importance scores of all the factors.

• Average performance score of all the factors for ICICI Bank.

• Average performance score of all the factors for competitor banks.

• It does show the Relative Importance score, which is calculated on the

basis of points (This is explained in methodology section).

• It shows that ICICI’s performance is superior over its competitors with

regard to accessibility, customer orientation and technical errors.

• Its performance is equivalent to its competitors on safety and security,

service cost and response to complaints.

• ICICI’s Relative Quality over competitors’ is calculated as 51.73


GRAPH NO 9:

GRAPH SHOWING THE AVERAGE IMPORTANCE SCORE OF ALL THE

FACTORS


AVERAGE IMPORTANCE SCORE OUT OF TEN

9.68

8.72

9.36

7.44

9.44

8.24

0 5 10 15

Accessibility

Safety and Security

Response to complaints

Service costs

Customer Orientation

Technical Errors


TABLE NO 10:

TABLE SHOWING RANKING FACTORS FOR IMPROVEMENT

FACTORS AVERAGE

IMPORTANCE

ICICI WEIGHT RANK

Accessibility 9.68 8.80 11.00 3

Safety and

Security

8.72 8.16 10.68 6

Response to

Complaints

9.36 7.84 11.93 1

Service Costs 7.44 6.56 11.34 2

Customer

Orientation

9.44 8.56 11.02 4

Technical

Errors

8.24 7.60 10.84 5

Inference

This table is created to know the most important factors according to customers to hold a

debit card.

• It shows the average importance score for each of the factors.

• It also shows the average performance score of ICICI bank on each of the factors.

• It shows the weight of each factor.

• It also shows the factors RANK on the basis of weight.


GRAPH NO 10:

GRAPH SHOWING AVERAGE PERFORMANCE SCORE OF ICICI BANK

AVERAGE ICICI SCORE OUT OF TEN

8.8

8.16

7.84

6.56

8.56

7.6

0 2 4 6 8 10

Accessibility

Safety and Security

Response To Complaints

Service Calls


Technical Error


TABLE NO: 11

PROFILE OF THE CUSTOMERS BASED ON THE SATISFACTION

LEVELS

SL NO OPINION NO OF

RESPONDENTS

PERCENTAGE

1 Very Satisfied 40 40

2 Satisfied 52 52

3 No Complaints 04 04

4 Dissatisfied 04 04

Inference

This table is designed to measure the satisfaction levels of customers regarding

services offered by ICICI bank.

• 40% customers are Very satisfied with the services provided by the bank.

• 52% customers are satisfied with the service.

• 04% customers do not have any complaints regarding the service offered by the

bank.

• Remaining 04% customers are dissatisfied with the services of ICICI bank.


GRAPH NO 11:

GRAPH SHOWING AVERAGE PERFORMANCE SCORE OF

COMPETITOR BANKS

AVERAGE COMPETITORS SCORE OUT OF TEN

7.28

7.44

6.96

6.48

7.36

6.4

5.5 6 6.5 7 7.5 8

Accessibility

Safety and Security

Response To Complaints

Service Cost


Technical Errors


TABLE NO : 12

PROFILE OF THE CUSTOMERS BASED ON REFERRING ICICI BANK TO

OTHERS

SL. NO OPINION NO OF

RESPONDENTS

PERCENTAGE

1 Very likely 52 52

2 Somewhat Likely 36 36

3 Somewhat Unlikely 08 08

4 Unlikely 04 04

Inference

This table is designed to know the customers willingness on referring ICICI bank to

others.

• 52% customers are very likely to refer ICICI bank to others.

• 36% customers are somewhat likely to refer ICICI to others.

• 08% customers are somewhat unlikely to refer the bank to others.

• O4% customers are unlikely to refer ICICI bank to others.


GRAPH NO: 12

GRAPH SHOWING CUSTOMER SATISFACTION LEVELS

40

52

4 40

10

20

30

40

50

60

VerySatisfied

Satisfied NoComplaints

Dissatisfied

Graph showing customer satisfaction levels


GRAPH NO: 13

GRAPH SHOWING THE REFERENCE LEVELS OF THE CUSTOMERS

52

36

8 40

102030405060

Very Likely SomewhatLikely

SomewhatUnlikely

Unlikely

REFERENCE LEVELS OF THE CUSTOMERS


Testing of hypothesis

Out of 100 respondents interviewed, 42 were Post Graduates. The remaining are

Graduates and below, In the satisfaction survey 86 respondents fall in the category of

‘very satisfied’ and ‘satisfied’. 14 fall in ‘No Complaints’ and Dissatisfied’ category. Out

of 86 who fall under ‘very Satisfied ‘and ‘Satisfied’ category, 42 were found to be Post

graduates. The present test is based on whether the ‘Education Level ‘and ‘Satisfaction

Levels’ are independent or not.

Educational Level

Satisfi

cation

Levels

Post Graduation

Below Post

Graduation

Total

Very Satisfied and

Satisfied

42 44 86

No Complaints and

Dissatisfied

6 8 14

Total 48 52 100


CALCULATIONS:

O E (O-E)2 (O-E)2/E

42 86*48/100=41.28 0.5184 0.0125581

44 86*52/100=44.72 0.5184 0.0115921

6 48*14/100=6.72 0.5184 0.0771428

8 52*14/100=7.28 0.5184 0.0712087

Total 0.1725017

Ho: Education and Satisfaction levels are independent

H1: Education and Satisfaction levels are dependent

Level of significance 5%

DOF (2-1) (2-1) =1

��WDE� ��

7HVW�VWDWLVWLF� �� R -e) 2/E

7HVW��FDO� ��

CONCLUSION

6LQFH� ��WDE�! ��FDO�

Therefore Ho is accepted

Hence it is clear from the test that Educational and Satisfaction levels are

independent.


Implications of the study

¾�Most of the customers are post Graduates who are employed and fall in the

income bracket of Rs.1,00,000 and above , hold the corporate savings account

¾�Sales Executives of the bank are playing a pivotal role in influencing the

customers to choose ICICI Bank from the pool of Debit Card service

providers.

¾�Very few respondents are influenced by company advertisements.

¾�There is maximum utilization of ATM, Merchant Banking (shopping), cheque

Book and Zero Balance facilities of which the respondents are very much

aware.

¾�Most of the respondents are not aware of Joint Account, Fund Transfer and

Bills Payments facilities, due to which there is negligible utilization of these

facilities.

¾�ICICI’s performance is superior to its competitors with respect to

Accessibility, Customer’s Orientation and Technical Errors.


¾�With regard to safety and Security, Response to the complaints and Service

cost ICICI’S performance is equivalent to its competitors.

¾� Respondents perceive, Response to complaints, Service Cost and

Accessibility as the most vital factors to hold the debit card.

¾�Most of the ICICI’s customers are satisfied with the various services, with

variations in their satisfaction levels. Only negligible few are satisfied with

the service.

¾�The respondents are desirous of referring ICICI to others.


Recommendations

¾�In the present competitive market, promotion plays the important role in

building and maintaining the image of the company. Thus the company need to

concentrate more on various promotional measures like advertisements, contests

, customer’s meet ,etc to reach and create awareness among the customers.

¾�Low Income group customers are few in number. Thus the company needs to

frame suitable policies and schemes to attract prospective customers in this

group.

¾� The company has competitive advantage over its competitors in Accessibility,

Customer orientation and Technical Errors. Whereas its performance is

equivalent towards Safety and security, Response to complaints and service

cost.

¾�Thus company needs to frame the policies that can help them to gain

competitive advantage on these factors as well.

¾�Though the ICICI has large number of ATM outlets in Bangalore city ,the study

reveals that still there is a potential; for the company to increase the number of

ATM’s

¾�Study reveals that there is a need for separate ATM machines for females at

least in the crowded outlets.


¾�The companies need to increase the withdrawal limits.

Conclusion

The study revealed some interesting facts and impulses of customers with regard to their

satisfaction. ICICI is performing to the customers’ expectations that lead to their

satisfaction. At the same time there are few dissatisfied customers. So the company must

look into this matter, because ‘dissatisfied customers are the best teachers’. A customer

complains of his dissatisfaction only when he is interested in doing further business with

the company, otherwise he won’t even bother about it. Thus the company should try to

reduce the dissatisfaction.


Select Bibliography A. Books

1 Services Marketing

--By –Zeithml and Bitner

2 .Service Marketing

-- By Roland .T.Rust, Antony and Timothy

3. Marketing Research

-- By Tull and Hawkins

B. Internet sites

!. www.icici.com

2. www.theloyaltybuilder.com

3. www.customer_satisfaction.com

4. www.cssurveys.com


M.P. Birla Institute of Management , Bangalore-05

Customer satisfaction survey on ICICI Debit Cardholders.

QUESTIONNAIRE

1. Name :

2. Age :

3. Education: PUC ��*UDGXDWH� ��3RVWJUDGXDWH� �

4. Annual Income: Below 50000 � 50000-75000 � 75000-100000 � Above 100000 �

5: Occupation: Employee ��%XVLQHVVPDQ� � Student �

6: Which account do you hold?

Savings ��FXUUHQW� � corporate �

7. Who actually influenced you to open an account with ICICI?

Advertisements � Friends � Sales Executives from Bank �

8. Tick the facilities offered on ICICI Debit card.

ATM � Merchant Transaction (shopping) � Bill payment � Fund Transfer �

Joint Account � Cheque Book � Zero Balance �


9. Tick the facilities you are availing

ATM � Merchant Transaction (shopping) � Bill payment ��)XQG�7UDQVIHU� ��

Joint Account ��&KHTXH�%RRN� ��=HUR�%DODQFH� �

10. How often you transact?

Once in a day � Weekly ��)RUWQLJKWO\� ��0RQWKO\�� .

11. How important are the below factors for you to hold an account? How do you rate

ICICI performance on these factors? How do you rate competitors Performance on

these factors? Name the competitor.

FACTORS IMPORTANCE ICICI COMPETITORS

PERFORMANCE PERFORMANCE

Hi Low Hi Low Hi Low

a).Accessibility

[Number of ATM, Nearness]

b).Safety and Security

[Privacy, alert calls,

Quarterly statements]

c) Response to

Complaints

d) Service cost

[Annual charge, insufficient

Balance, Transaction cost]


e) Customer Orientation

[Attention, care,

help, empathy, promptness]

f) Technical Errors

12. How satisfied you are with the services of ICICI bank.

Very satisfied ��6DWLVILHG� ��1R�FRPSODLQWV� � Dissatisfied ��

13. How likely are you to refer ICICI bank to others?

Very likely ��VRPHZKDW�OLNHO\� ��VRPHZKDW�XQOLNHO\� � Unlikely ��

14. Suggestions:

Place:

Date: Signature.

Documents

SantoshS 0367 Custimer Satisfaction Survey