TOPIC

STUDY ON CUSTOMER SATISFACTION TOWARDS FIANCIAL SERVICES PROVIDED BY BANK

Company profile
Punjab national bank was registered on may 19,1894 under the indian company act with its office in Anarkali bazaar lahore. The bank is 2nd largest government-owned commercial bank in india with about 4500 branches accros 764 cities. It serves our 37 million customer.

Vision
To evolve and position the bank as a world class, progressive,cost effective and customer friendly institution providing comprehansive financial and related services. Commited to excellence in serving the public and also excelling in corporate values.

mission
To provide excellent professional services and improve its position as a leader in financial and related services. Build and maintain a team of motivated work force with high work ethos. Use latest technology aimed at customer satisfaction and act as an effective catalyst socio economic development.

Objective of study
To have an insight into the attitudes and behaviors of customer. To find out the differences among perceived services and expected services. To produce an executive service report to upgrade services characteristics. To understand customer preferences. To access the degree of satisfaction of consumers.

Reasearch methodology
Convenience sampling method is used for the survey of this project. Sample size denotes the no of elements selected for the study for the present study, 100 respondents were selected at random PRIMARY DATA- primary data are those collected by the investigator himself for the first time and thus they are original in character, they are collected for a particular purpose SECONDARY DATA INTERNAL DATA companys brochures ,manual and annual reports. EXTERNAL DATA magazines , research books , internet

Q.1. Which is the best location for opening Bank Branch?

Awareness Residential Shopping Commercial Hosp/Schools/Colleges Respondents 20% 29% 23% 28%

bank location

28%

20%

Residentia Shopping Commercial Hosp./Schools/College 29% 23%

Q. 2. How close customers expect Bank Branches to be located?

Category

Under an area of 1km

Under an area of 1-2km 7 1 12 7

Under an area of 2-4km 1 0 4 5

Area of more than 4 km 0 4 0 1

Student Business Man Salaried Self Employed

17 19 9 13

Branch Distance
20 18 16 14 12 10 8 6 4 2 0 19 17 13 9 7 7 4 1 <1 1 to 2 1 0 2 to 4 5 0 4 0 >4 0 12

NO. of Responses

student Business men Salaried Self employed

Distance (KM)

Q.3. How close customers expect ATM distance to be located at Kilometer?

Category Under an area of 1km Student Business Man Salaried Self Employed 23 21 19 14 Under an area of 12km 2 0 4 11 Under an area of 2-4km 0 0 2 0 Area of more than 4 km 0 4 0 0

ATM Distancee
25 23 21 19 14 11 10 5 0 <1 1 to 2 Distance 2 to 4 >4 4 2 0 0 0 2 0 0 0 0 4 Student Business Men Salaried Self Employed

No. of Responses

20 15

Q.4.Do you expect banks to advertise and make you aware about new schemes and offer?
Awareness Yes No Respondents 97% 3%

3%

No Yes

97%

Q.5. What are the sources of promotion of Bank?

Medium Radio Television Newspaper Internet No Of Responses 10 35 30 5

Billboards
Mobile

17
3

Q.6 What are the characteristics of the Bank employees?

Characteristics
Appearance Communication Modesty Empathy Efficiency Problem Handling

No Of Responses
10 17 13 12 23 25

Q.7. What are the preferences of Banks?

Types Of Banks Private Nationalized

Preference 44 50

Co-operative
MNCs

3
3

3% 3% 44%
Private Nationalized Co-operative MNCs

50%

Q.8. What are the selection of Banks?

Criteria Brand Name Variety of Products Employee of Bank Customer Service Ease in availing services Interest Rate Automated Services Accessibility Process No Of Responses 35 16 7 11 6 3 4 6 12

LIMITATIONS OF THE STUDY

TIME CONSTRAINTS SAMPLE SIZE ACCURACY COLLECTION OF DATA WAS DIFFICULT

SUGGESTIONS & RECOMMENDATIONS

Due to the intence competition in the financial market,PNB should adopt better strategies to attract more customers. PNB should adopt effective promotional strategies to increase the awareness level among the consumers. PNB should ask for their consumer feedback to know whether the consumers are really satisfied or dissatisfied with the service and product of the bank. The bank should try to increase the brand image through performance and services then,only the customers will be satisfied.

FINDING
Competition with SBI and with private banks (ICICI,HDFC) Number of problems faced by the people is more in public sector banks. Response of the respondents towards the satisfaction level is neutral. People preffered the bank by their brand name.