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A PROJECT REPORT ON A STUDY ON CUSTOMER SATISFACTION WITH RESPECT TO ICICI direct.

com SUBMITTED TO UNIVERSITY OF PUNE IN PARTIAL FULLFILMENT OF 2 YEARS FULL TIME COURSE MASTERS IN BUSINESS ADMINISRATION (MBA) SUBMITTED BY RAJESH NALWADE (BATCH-2005-2007) UNDER THE GUIDANCE OF PROF.MRS. NEETA LALWANI NAGUAR INSTITUTE OF MANAGEMENT

INTRODUCTION
1.1 - Methodology 1.2 - Objective of the study 1.3 - Importance of the study 1.4 - Scope of the study 1.5 - Limitation of the study 1.6 - Chapter scheme

THEORETICAL BACKGROUND 3.1 - what is customer satisfaction 3.2 - what the customer expects and satisfaction level 3.3 - Customer Satisfaction Management Process 3.4 - Theory of Investing 3.5 - Indian Stock Market Overview

Introduction to study The capital market consists of two kinds (a) Primary market, (b) Secondary market. Primary market is popularly known as new issue market. Secondary market is an important component of capital market. The stock exchanges are known as secondary market. To learn more about how customers can earn through the stock market, on has to understand how it works. A person desirous of buying /selling shares in the market has to first place his order with a broker. When the buy order of the shares is communicated to the broker he routes the order through his system to the exchange. The order stays in the queue exchanges system and gets executed when the order logs on the system within buy limit that has been specified. The shares purchased will be sent to purchaser by the broker either in physical or demat format. Customer can buy and sell securities on the stock exchanges, through online automated order processing system provided by the company. Customer can log on at any time, during or after trade hour and place an order. The online investment option of ICICI Direct is safest way to the investor to invest in Mutual Fund, IPO, Bonds and Postal Saving.ICICIdirect.com thrives continuous endeavor to satisfy its customers and provide them with the highest level of convenience. Survey reveals the needs, perception and opinion etc of the existing customers of the ICICI direct.com. This survey also tells about the satisfaction of the customers towards the services provided by the ICICI direct.com. the changing scenario of the todays Hi-tech business era ICICI direct,com. provides the online share trading and holding of the scrips.

1.1 Methodology

Sampling design: A sampling design is a definite plan for obtaining a sample from a given sample limit. It refers to technique or procedure the researcher would adopt in selecting items for the sample, sample design is determined before data allotted.

Sample units: Here the ICICI Direct.com existing customers are the sample unit for taking the feedback regarding the level of customer satisfaction. Sample size: The Sample limit has 100 customers.

Primary Data: Primary data is a data collected for the first time and which is new to the study. Primary Data has been collected through the questionnaire from existing customer of ICICI direct.com. Pune branch.

Secondary Data: -

It already exists data, which has collected through magazines and internal document of the organization, website of icicidirect.com etc which helped to the researcher in study.

Research approaches :There can be four ways of collecting data observation focus, graph and experimental. These study closely related to survey method. Research instruments:Research instruments used for collecting primary data is questionnaire for this study the research instruments used was questionnaire. Questionnaire: A Questionnaire is a set of question with or without blank space for recording answers. The question can secure the relevant facts or opinion from informal and interested respondent included in the sample survey. Researcher had taken the help of the questionnaire for this survey of the customer satisfaction.

1.2 Objective of the study The main objective of the study was the survey of the level of the customer satisfaction with reference to ICICI direct.com. To study the efforts taken for to achieve the customer satisfaction towards the ICICI direct.com. To know the consumer behavior of the Customers of ICICI direct.com. To know the reason for which the customers are attracted towards ICICI direct.com To know which services provided by ICICI direct.com, are mostly attracted by the customers. To study the efforts taken by management for the purpose maintaining quality and services in the customer satisfaction.

1.3 Importance of the study The study will be useful to organization in content of understanding customer satisfaction and it will also useful to organization in relation to possible modification in present market system. The study will be useful to the other experts and the students researchers to study in the same area. The study may help to organization to improve their quality in dealing its customers. The study will be remaining as guidance for the organization for better customer satisfaction. The study may help the organization to plan future policies and strategies for better costumer satisfaction. The project study will be help in finding solutions of the problem faced by customer and the problems faced by the organization.

1.4 Scope of the study The scope of the study was limited to Pune city. As the sample size was 100 customers only. In todays cutthroat competition to increase the market share there is need to satisfy the customers needs and wants. For this purpose all organizations are required to conduct research work to understand customers needs and expectation from the company. For every research work the study may have geographical conceptual scope. As subject to the products limited to the study to the Pune district. The survey conducted will give the details about the customer satisfaction level responding product and services.

1.5 Limitations of the study The study was limited carried out in Pune and its vicinity with sample size of 100 Time was a constraint in study as only 50 day allotted. The information gathered was based on customers response to questionnaire. Even then a genuine attempt has been made to get correct data from them. Sample drawn need not be true representative and may have led to same Sampling error. Financial factors are not considered. Suggestions are not verified.

2.1 Introduction

ICICI direct is product of ICICI securities Ltd. Trading with ICICI direct.com is a fast, easy transparent and hassle free way to trade in shares ICICI direct offers to the customer a wide choice of product for investing in the stock market It also allows the customer to invest in postal saving, Mutual fund and other financial product ICICI direct offers to the customer a unique 3 in 1 account. Convenience: The 3 in1 accounts integrate banking broking and demat account. When customer place a buy or sell order with ICICI direct the system checks the fund and shares available in customer bank and demat account respectively and execute the trade on exchange online the bank and demat account is automatically debited or credited. This enables the customer to trade in shares without going through the hassles of tracking settlement cycle writing cheque and transfer instruction. Speed: Customer can get the latest quotes of scrips on ICICI direct.com place an order pronto. Control: With ICICI direct.com customer get an order confirmation instantly. Customer can easily buy or sell the shares in primary and secondary market. Independence: Through ICICI direct.com customer can manage their own demat and bank account directly and indirectly. Trust: ICICI direct.com is part of ICICI group, an organization trusted by millions of Indian.

Important features of each page

Home Page Market Snapshot:Update before market hours 09:30 am gives a brief snap shot on how the markets are likely to open today Pick of the Week: Update every Saturday there are 4 pick of the week featured in a month.Pick of week features fundamental stock with a top line growth of 35% the invvestment time frame is 6-9 month and the target price is also mentioned ICICI Direct sector watch: Provides with an outlook on 16 sectors and the stocks covered carry a particular weight age based on their likely performance in the future.

Stock on the move: Every fortnight stock on the move will feature 3 stocks which are likely to show significant up move (5%-7%) in the next 15 days due to change in trade setiment. This could be due fundamental changes within the company forthcoming announcement or for purely technical reason Features: Is a write up on the latest forth-coming IPO issue along with the details of the issue like price band and minimum subscription quantity. Expert speak: Ask the fund manager is an interview with the details of the issue like price band and minimum subscription quantity

Trading page: Includes products like, Equity, Derivatives (Futures and option), Mutual Fund (19AMCs) postal savings (NSE/KVP), IPO, Insurance (General/Life ).Special l product offered by ICICI Direct.com Cash Trading : Customer can trade buy and sell on NSE or BSE. Margin: Customer can do intra day trading like buying or short selling in 131 stocks. Margin plus: Under margin plus customer can do intra day trading up to 20 times there available limit 131 stocks. BTST: (Buy today sells tomorrow) Through this option customer can buy shares today and sell tomorrow if prices are in favor of the customer before the shares comes to there demat account in 345 stocks

Shares as margin: Customer can deposit their shares and pledge them online to create a limit which customer can use as I nitial margin to trade in futures and option there are 479 shares available under shares as margin. Mutual Fund: Customer can purchase, redeem, switch and invest in systematic investment plan, customer can choose from 19 AMCs and also view their unit holding and NAV online Postal saving: Customer can invest 8% Govt. of India Bonds (2003) National Saving Certificate (Rate of Interest) tenure 72 month. Kisan Vikas Patra (Rate of Interest 7.40% pa) tenure 103 month.

IPO: Customer can apply for latest IPO online. Insurance: Customer can buy general insurance from ICICI Lombard and Life Insurance from ICICI Prudential online through ICICI Direct.com.

News Page: Gives the latest and breaking news to the customer from CNBC and Money Control. Market Page: Provides with top gainers, top losers, volume topers, Nifty and Sensex weight age.

Derivatives Trading: It provides the derivatives snap shot and derivatives strategy for the day, which is updated before market hour it tells to customer what they could possibly buy in the Futures and Option segment today. Chart Page: It locates features on interactive charting with advanced indicators called direct technical chart. Research page: Has a features like stock screener It helps the customer to identify stocks that meet there specific criteria company snap shot view on over 5000 companies. Mutual Fund Page: It helps to the customer with basic fund finder, advanced fund finder, compares funds and NAV along with MF review of latest fund being offered. Personal Finance: It provides tools with customer can use for there Investment planning, Retirement planning, tax and financial management. Customer service page: This page gives service to the customer related to online share trading.

Advantages of ICICIdirect.com ICICIdirect.com offers to you a unique 3-in-1 account. Banking + Broking + Demat A unique 3-in-1 account enables you to trade in shares, mutual funds, postal savings, bonds without filling lengthily forms & doing paperworks. Therefore, financial transaction done on ICICIdirect.com is paperless, convenient, fast & hassle free.

Products and Services A product for every need: ICICIdirect.com is the most comprehensive website, which allows you to invest in Shares, Mutual funds, Derivatives (Futures and Options) and other financial products. Simply put we offer you a product for every investment need of yours. 1. TRADING IN SHARES: ICICIdirect.com offers you various options while trading in shares. Cash Trading : This is a delivery based trading system, which is generally done with the intention of taking delivery of shares or monies. Margin Trading : You can also do an intra-settlement trading up to 3 to 4 times your available funds, wherein you take long buy/ short sell positions in stocks with the intention of squaring off the position within the same day settlement cycle. Margin PLUS Trading : Through Margin PLUS you can do an intra-settlement trading up to 25 times your available funds, wherein you take long buy/ short sell positions in stocks with the intention of squaring off the position within the same day settlement cycle. Margin PLUS will give a much higher leverage in your account against your limits. Spot Trading : This facility can be used only for selling your demat stocks which are already existing in your demat account. When you are looking at an immediate liquidity option, 'Cash on Spot' may work the best for you, On selling shares through "cash on spot", money is credited to your bank a/c the same evening & not on the exchange payout date. This money can then be withdrawn from any of the ICICI Bank ATMs.

CallNTrade: CallNTrade allows you to call on a local number in your city & trade on the telephone through our Customer Service Executives. This facility is currently available in over 11 major states across India. Trading on NSE/BSE: Through ICICIdirect.com, you can trade on NSE as well as BSE. Market Order: You could trade by placing market orders during market hours that allows you to trade at the best obtainable price in the market at the time of execution of the order. Limit Order: Allows you to place a buy/sell order at a price defined by you. The execution can happen at a price more favorable than the price, which is defined by you, limit orders can be placed by you during holidays & non market hours too.

TRADE IN DERIVATIVES: FUTURES: Through ICICIdirect.com, you can now trade in index and stock futures on the NSE. In futures trading, you take buy/sell positions in index or stock(s) contracts having a longer contract period of up to 3 months. Trading in FUTURES is simple! If, during the course of the contract life, the price moves in your favor (i.e. rises in case you have a buy position or falls in case you have a sell position), you make a profit. Presently only selected stocks, which meet the criteria on liquidity and volume, have been enabled for futures trading. Calculate Index and Know your Margin are tools to help you in calculating your margin requirements and also the index & stock price movements. The ICICIDIRECT UNIVERSITY on the HOME PAGE is a comprehensive guide on futures and options trading.

OPTIONS An option is a contract, which gives the buyer the right to buy or sell shares at a specific price, on or before a specific date. For this, the buyer has to pay to the seller some money, which is called premium. There is no obligation on the buyer to complete the transaction if the price is not favorable to him. To take the buy/sell position on index/stock options, you have to place certain % of order value as margin. With options trading, you can leverage on your trading limit by taking buy/sell positions much more than what you could have taken in cash segment. The Buyer of a Call Option has the Right but not the Obligation to Purchase the Underlying Asset at the specified strike price by paying a premium whereas the Seller of the Call has the obligation of selling the Underlying Asset at the specified Strike price. The Buyer of a Put Option has the Right but not the Obligation to Sell the Underlying Asset at the specified strike price by paying a premium whereas the Seller of the Put has the obligation of buying the Underlying Asset at the specified Strike price. By paying lesser amount of premium, you can create positions under OPTIONS and take advantage of more trading opportunities.

INVESTING IN MUTUAL FUNDS: ICICIdirect.com brings you the same convenience while investing in Mutual funds also - Hassle free and Paperless Investing. With the inclusion of Fidelity MF, you can now invest online in 19 mutual Funds through ICICIdirect.com. Prudential ICICI MF, JM MF, Alliance MF, Franklin Templeton MF, Sundaram MF, Birla Sun Life MF, HDFC MF, Principal MF, UTI MF, Reliance MF, Kotak MF, Tata MF,DSP Merrill Lynch MF, ING Vysya MF,CHOLA MF, Deutsche MF,HSBC MF and Standard Chartered MF are the Mutual Funds available for investment. You can invest in mutual funds without the hassles of filling application forms or any other paperwork. You need no signatures or proof of identity for investing.

Once you place a request for investing in a particular fund, there are no manual processes involved. Your bank funds are automatically debited or credited while simultaneously crediting or debiting your unit holdings. You also get control over your investments with online order confirmations and order status tracking. Get to know the performance of your investments through online updation of MF portfolio with current NAV.

ICICIdirect.com offers you various options while investing in Mutual Funds: Purchase: You may invest/purchase Prudential ICICI MF, JM MF, Alliance MF, Franklin Templeton MF, Sundaram MF, Birla Sun Life MF, HDFC MF, Principal MF, UTI MF ,Standard Chartered MF ,Reliance MF, Kotak MF, Tata MF,DSP merrill lynch MF,ING Vysya MF,CHOLA MF, Deutsche MF,HSBC MF and Fidelity MF without the hassles of filling application forms. Redemption: In addition to giving hassle-free paperless redemption, ICICIdirect.com offers faster liquidity. You can redeem the mutual fund units through ICICIdirect.com. The money will be credited to your bank account automatically 3 days after the order placement date.

Switch: To suit your changing needs you may wish to shift monies between different schemes. You can switch your monies online from one scheme to another in the same fund family without any hassles. Systematic Investment plans (SIP): SIP allows you to invest a certain sum of money over a period of time periodically. Just fill in the investment amount, the period of investment and the frequency of investing and submit. ICICIdirect.com will do the rest for you automatically investing periodically for you. Systematic withdrawal plan: This allows you to withdraw a certain sum of money over a period of time periodically.

4. IPOs AND BONDS ONLINE: You could also invest in Initial Public Offers (IPOs) and Bonds online without going through the hassles of filling ANY application form/ paperwork. Get in-depth analyses of new IPOs issues (Initial Public Offerings) which are about to hit the market and analysis on these. IPO calendar, recent IPO listings, prospectus/offer documents, and IPO analysis are few of the features, which help you, keep on top of the IPO markets.

Investing!! What's that?

Judging by the fact that you've taken the trouble to navigate to the Learning Center of ICICIDirect, our guess is that you don't need much convincing about the wisdom of investing. However, we hope that your quest for knowledge/information about the art/science of investing ends here. Sink in. Knowledge is power. It is common knowledge that money has to be invested wisely. If you are a novice at investing, terms such as stocks, bonds, badla, undha badla, yield, P/E ratio may sound Greek and Latin. Relax. It takes years to understand the art of investing. You're not alone in the quest to crack the jargon. To start with, take your investment decisions with as many facts as you can assimilate. But, understand that you can never know everything. Learning to live with the anxiety of the unknown is part of investing. Being enthusiastic about getting started is the first step, though daunting at the first instance. That's why our investment course begins with a dose of encouragement: With enough time and a little discipline, you are all but guaranteed to make the right moves in the market. Patience and the willingness to pepper your savings across a portfolio of securities tailored to suit your age and risk profile will propel your revenues at the same time cushion you against any major losses. Investing is not about putting all your money into the "Next Infosys," hoping to make a killing. Investing isn't gambling or speculation; it's about taking reasonable risks to reap steady rewards. Investing is a method of purchasing assets in order to gain profit in the form of reasonably predictable income (dividends, interest, or rentals) and appreciation over the long term.

Why should you invest? Simply put, you should invest so that your money grows and shields you against rising inflation. The rate of return on investments should be greater than the rate of inflation, leaving you with a nice surplus over a period of time. Whether your money is invested in stocks, bonds, mutual funds or certificates of deposit (CD), the end result is to create wealth for retirement, marriage, college fees, vacations, better standard of living or to just pass on the money to the next generation. Also, it's exciting to review your investment returns and to see how they are accumulating at a faster rate than your salary.

When to Invest? The sooner the better. By investing into the market right away you allow your investments more time to grow, whereby the concept of compounding interest swells your income by accumulating your earnings and dividends. Considering the unpredictability of the markets, research and history indicates these three golden rules for all investors 1. Invest early 2. Invest regularly 3. Invest for long term and not short term while its tempting to wait for the best time to invest, especially in a rising market, remember that the risk of waiting may be much greater than the potential rewards of participating. Trust in the power of compounding is growth via reinvestment of returns earned on your savings. Compounding has a snowballing effect because you earn income not only on the original investment but also on the reinvestment of dividend/interest accumulated over the years. The power of compounding is one of the most compelling reasons for investing as soon as possible. The earlier you start investing and continue to do so consistently the more money you will make. The longer you leave your money invested and the higher the interest rates, the faster your money will grow. That's why stocks are the best long-term investment tool. The general upward momentum of the economy mitigates the stock market volatility and the risk of losses. Thats the reasoning behind investing for long term rather than short term.

How much money do I need to invest? There is no statutory amount that an investor needs to invest in order to generate adequate returns from his savings. The amount that you invest will eventually depend on factors such as: Your risk profile Your Time horizon Savings made All the above three factors will be discussed in brief in the latter part of the course.

SUGGESTIONS TO THE COMPANY A. Advertisements The company should give more emphasis on advertisement media to make aware to customers about the ICICI direct.com through regular pamphlet distribution in local news paper and TV advertisement. The company should motivate the investors to invest in other sources of investing such as insurance, postal saving and commodity market etc. B. Awareness & Training to the customers The company should increase the awareness regarding the brokerage rates why they are high and how, because the other service providers are offering this on cheaper rates. The company should give training to the customers regarding to how to trade on the icicidirect.com for every product as per it is needed. The company should increase awareness about the various other type of the trading like spot trading, margin trading. C. Suggestion from Customers The company should offer the Transact in statement, Demat statement and Contract notes physically to the customers. Organization should concentrate on Govt. employee to attract them towards online share trading by the attractive scheme.

Conclusion

Though share trading is not a cup of tea of everyone, common man can also earn money through it. Customer wants to invest their money, but they are confused whether to invest or not. They dont have full knowledge about the stock market. Customer can buy and sell securities on the stock exchanges, through online automated order processing system provided by the company. Customer can log on at any time, during or after trade hour and place an order. The online investment option of ICICI Direct is safest way to the investor to invest in Mutual Fund, IPO, Bonds and Postal Saving. Mostly small investors are not satisfied with the brokerage rates of the ICICI direct.com. Many customers are now attracting towards the other investment like commodity market. Organization has to concentrate on separate office and other infrastructural facilities. Organization has to make more advertisement through pamphlet distribution in local newspaper and TV advertisement through the local channel Organization has to organize such session on stock market update, which helps to increase customer awareness about stock market.

BIBLIOGRAPHY
Philip Kotler-7th edition MARKETING MANAGEMENT Ramesh Babu- INDIAN FINANCIAL SYSTEM ICICI direct.com- website of the company www.google.co.in