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

M.P.BIRLA INSTITUTE OF MANAGEMENT 2

DECLARATION

I hereby declare that the report titled &%#
5A7151AC71C^ 511111 1^ 1A^GA1C11 C171 C^
11117CA115W171511C1A1111111^C17C1C1C1
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


PRINCIPAL CERTIFICATE

This is to certify that Mr. SANTOSH.D.SHAHAPURMATH,
bearing registration No: 03XQCM6089 has undergone a research
project and has prepared a report titled C157Cm11
5A7151AC71C^511111 1^1A^GA1C11 C171 C^11117
CA115W171511C1A1111111^C17C1C1C11A^L 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:


GUIDE CERTIFICATE

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

ACKNOWLEDGEMENT

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 Profile08
Product Profile...10

Chapter 2. INTRODUCTION ...13

Background of the study13
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 Techniques32
Sample size....32
Instrumentation Techniques...32
Data Analysis.34
Limitations of the Study.....35

Chapter 5. PRESENTATION AND ANALYSIS OF DATA AND
INTERPRETATION37

Hypothesis.62

Chapter 6 SUMMARY AND CONCLUSION

Implications of the Study.64
Recommendations66
Conclusion67

ANNEXURES

Bibliography
Questionnaire

Research Extract

As per the requirements of Bangalore Universitys 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 Indias 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 sellers 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;

ICICIs performance compared to competitors
ArethecutomersawareoItheIacilitiesoIIerdtothem?
What thecustomersexpect Iromthebank?
HowIarICICIisabletomeet theirexpectations
The detailed explanations for these computations are discussed in later section.
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 ICICIs
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. ICICIs 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 ICICs 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.RBIs 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 Directors and Executive
Directors 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 Indias 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 Banks 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 Banks 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 groups universal
banking strategy. The merger would enhance value for ICICI shareholders through the
merged entitys 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 groups 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 ATMs 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 ATMs 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 ATMs.

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 ATMs, 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 dont 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 Banks 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 todays 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 customers emotional
responses, their attributions and their perceptions of equity.

PRODUCT AND SERVICE FEATURES:
Customer satisfaction with a product or service is influenced by the customers
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 customers
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 customers 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 customers 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 organizations 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 customers 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 customers
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 ICICIs 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 peoples 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 peoples 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 respondents 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.

S Population: Who is to be surveyed? The researcher must define the target
population that will be sampled.
S 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.
S Sampling method: The selection of sample includes probability sampling and
non-probability sampling (chance).
S 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.
S 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.
Editing.
Coding.
Data entry.
Tabulation.

1. Editing: It involves checking for researcher and respondents mistakes. The mistakes
can be as follows,
The researcher must have failed to ask some questions or record answers for
certain questions.
The researcher may not follow the skip patter. [The requirement to pass over
certain questions in response to respondents answer to a previous question is
called skip pattern].
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:
Plain bar chart: These are the simplest form of bar chart.
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
risktheexperiment isreadytotakeinrejectingatruehypothesisanddenotedby . 1 -
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
not reject atruehypothesis representstheriskoIacceptingaIalsehypothesis. 1 - is
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 -86:,70 2distribution
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 distributionisalimitingapproximationoI multinomial distributionwith asthe
meanand2 (nu) asthevarianceoI thedistribution. Thetest depends ontheset oI
observedandexpectedandthedegreeoI Ireedom (nu). It isacontinuousdistribution,
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

The total sample size must be reasonably large.
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.
The constraints on the cell frequency, if varies, should be linear.


Uses of Chi-square Test
It is used as a test of independence of attributes. This test brings association, if
any, between the attributes.
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 ICICIs score for any factor was greater than the competitors score by at least
one, transferred the value of Relative Importance to Superior column.
-Where ICICIs 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 ICICIs score and competitors 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

The study is confined to Bangalore city
Findings of the study are based on the assumption that respondents have disclosed
accurate information.
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 Under
Graduate
2 Graduate
3 Post
Graduate


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 customers 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
47.61
1 Below 50000
2 5000-75000
3 75000-100000
4 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
12
24
4
0
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 Savings
2 Current
3 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
36
52
0
10
20
30
40
50
60
Advertisement Friends Sales Executives of
Bank


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
Merchant
Transaction
Bill Payment
Fund
Transfer
Joint
Account
Cheque
Book
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%
Fortnightl
y 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 ICICIs 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.
ICICIs 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 4
0
10
20
30
40
50
60
Very
Satisfied
Satisfied No
Complaints
Dissatisfied
Graph showing customer satisfaction levels


GRAPH NO: 13

GRAPH SHOWING THE REFERENCE LEVELS OF THE CUSTOMERS

52
36
8
4
0
10
20
30
40
50
60
Very Likely Somewhat
Likely
Somewhat
Unlikely
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
2tab3.84
Test statistic 2 4-e) 2/E
%089 2cal 0.1725

CONCLUSION

$3.0 9,- .,
Therefore Ho is accepted
Hence it is clear from the test that Educational and Satisfaction levels are
independent.


Implications of the study

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

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.

Very few respondents are influenced by company advertisements.

There is maximum utilization of ATM, Merchant Banking (shopping), cheque
Book and Zero Balance facilities of which the respondents are very much
aware.

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.

ICICIs performance is superior to its competitors with respect to
Accessibility, Customers Orientation and Technical Errors.


With regard to safety and Security, Response to the complaints and Service
cost ICICIS performance is equivalent to its competitors.

Respondents perceive, Response to complaints, Service Cost and
Accessibility as the most vital factors to hold the debit card.

Most of the ICICIs customers are satisfied with the various services, with
variations in their satisfaction levels. Only negligible few are satisfied with
the service.

The respondents are desirous of referring ICICI to others.


Recommendations

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

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.

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.

Thus company needs to frame the policies that can help them to gain
competitive advantage on these factors as well.

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
ATMs

Study reveals that there is a need for separate ATM machines for females at
least in the crowded outlets.

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 wont 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 7,/:,90 Postgraduate

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

5: Occupation: Employee Businessman Student

6: Which account do you hold?
Savings current 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 EundTransIer
Joint Account ChequeBook ZeroBalance

10. How often you transact?
Once in a day Weekly Eortnightly 439 .

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 $,9810/ Nocomplaints Dissatisfied .

13. How likely are you to refer ICICI bank to others?
Very likely somewhat likely somewhat unlikely Unlikely .

14. Suggestions:

Place:
Date: Signature.

SantoshS 0367 Custimer Satisfaction Survey

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BIRLA INSTITUTE OF MANAGEMENT 1

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