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TABLE OF CONTENTS
HEADINGS Page
Number
CHAPTER 1 INTRODUCTION 5
CHAPTER 2 INDUSTRY PROFILE 11
CHAPTER 3 COMPANY PROFILE 18
CHAPTER 4 LITERATURE REVIEW 22
CHAPTER 5 RESEARH METHODOLOGY 27
CHAPTER 6 DATA ANALYSIS AND INTERPRETATION 32
CHAPTER 7 FINDINGS, SUGGESTIONS AND CONCLUSION 45
BIBLIOGRAPHY 50
ANNEXURE, QUESTIONNAIRE 52
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Chapter I
INTRODUCTION
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INTRODUCTION TO THE STUDY
Customer Satisfaction
Today the goal of every organization is customer satisfaction. Marketers realize that
organization exist because of customers. Hence they follow value based marketing. Consider
the fact todays customer face a plenitude of products in every category. Customer will be
having high and raising expectation of quality and service. In the face of the modern concepts of
marketing realized that measuring consumer needs or behavior was not enough. CONSUMER
SATISFICATION should be the core and then the correct perception on which marketing
policies of our organization should be built.
Management must think of itself not as producing products but as providing customer creating
value satisfaction.
Given their vast choices, the customer will gravitate to the offering that the best meet their
individual needs and expectation. They will buy one of the bases of their perception value.
Therefore it is not surprising that todays winning companies are those succeed best in satisfying
indeed delighting their target customer. They pay extreme attention to quality and service to
meeting and even exceeding customer expectation. They complete vigorously and at the co-operated smartly with their strategy partners in their supply and distribution chain. They pursue
efficiently and yet are responsible and flexible.
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Customer satisfaction is the outcome felt by buyers who have expectation. Customers are
satisfied when their expectation are met and delighted when their expectations are exceeded.
Satisfied customers remain loyal longer, buy more, and are less sensitive and talk favorable
about the company. From this it is clear that the satisfied customer will be less sensitive towards
the fluctuating price and offensive marketing typically cost more than defensive marketing,
because it requires much effort and cost to induce satisfied customers to switch away from their
current suppliers. We should also consider the fact that the cost of attracting a new customer
may be five times the cost of keeping the current customer happy. Therefore the companies are
intending in developing stronger bones and loyalty with their customers.
Benefits Of Customer Satisfaction
The importance of customer satisfaction and support is increasingly becoming a vital business
issue as organization realize the benefits of Customer Relationship Management (CRM) forproviding effective customer service. Professionals working within customer focused business
or those running call centres or help desks, need to keep informed about the latest customer
satisfaction techniques for running a valuable customer service function. From small customer
service departments to large call centres, the importance of developing a valued relationship
with customers using CRM isessential to support customer and long-term business growth.
Need for the Study
Customer satisfaction is an important part of business. It helps to increase sales. Customer
satisfaction has a very important position in the current world because of the stiff competition in
the banking industry. Customers will only go for the place where they get the maximum benefits
for what they are spending. Banking industry is now facing stiff competition. So customers will
only prefer SBM if they found something more of value than the competitors in the field. For
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that adequate knowledge about the products and services offered by SBM will be there with the
customers. This study examines the level of satisfaction of the customers of SBM.
OBJECTIVES OF THE STUDY
PRIMARY OBJECTIVES
To study the customers satisfaction towards State Bank of Mysore with special
reference to Chennai Main bank
SECONDARY OBJECTIVES
To identify awareness of the customers towards various products or services of
SBM,
To study the factors influencing customer decision on banking.
To study the level of customer satisfaction towards various products and services
of SBM.
To study the level customer satisfaction towards facilities and services in
Chennai Main branch.
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SCOPE OF THE STUDY
The study covers the customers of STATE BANK OF MYSORE, CHENNAI
MAIN.
The study aimed at analyzing satisfaction of customers of SBM, CHENNAI
MAIN.
The study also aims at suggesting means to improve customer satisfaction
levels.
NEED FOR THE STUDY
To identify the satisfaction level of customer towards different types of service
attributes, by identifying their critical factors.
To study about the bank about their customized products and services, according to the
consumers needed.
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To study the experience and expectations of the existing customers.
To study to improve the current standards of services.
To study the scope of introducing new types of services.
To study about the business tactics followed to stand against the competitors.
Chapter 2
INDUSTRY PROFILE
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INDUSTRY PROFILE
Banking is nearly as old as civilization. The history of banking could be said to havestarted with
the appearance of money. The first record of minted metal coins was in Mesopotamia in about
2500B.C. the first European banknotes, which was handwritten appeared in1661, in Sweden.
Cheque and printed paper money appeared in the 1700s and 1800s, with many banks created to
deal with increasing trade.
The history of banking in each country runs in lines with the development of trade and industry,
and with the level of political confidence and stability. The ancient Romans developed an
advanced banking system to serve their vast trade network, which extended throughout Europe,
Asia and Africa.
The bank of England was formed in 1694 to borrow money from the public for the government
to finance the war of Augsburg against France. By 1709, goldsmith were using bank of England
notes of their own receipts. New technology transformed the banking industry in the 1900s
round the world, banks merged into larger and fewer groups and expanded into other country.
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HISTORY OF THE INDIAN BANKING INDUSTRY
Banking in India has a long and elaborate history of more than 200 years. The beginning of this
industry can be traced back to 1786, when the countrys first bank, Bank of Bengal, was
established. But the industry changed rapidly and drastically, after the nationalization of banks
in 1969.
Indian Banking sector is dominated by Public sector banks (PSBs) which accounted for 72.6%
of total advances for all SCBs as on 31st March 2008. PSBs have rapidly expanded their foot
prints after nationalization of banks in India in 1969 and further in 1980. Although there is a
restrictive entry/expansion for private and foreign banks in India, these banks have increased
their presence and business over last 5 years.
The Indian banking system can be classified into nationalized banks, private banks and
specialized banking institutions. The industry is highly fragmented with 30 banking units
contributing to almost 50% of deposits and 60% of advances. The Reserve Bank of India is the
foremost monitoring body in the Indian financial sector. Banking segments in India functions
under the umbrella of Reserve Bank of India (RBI), the regulatory central bank. This segment
broadly consists of:
commercial banks
co-operative bank
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The commercial banking structure consists of:
Scheduled commercial banks
Unscheduled commercial banks
Schedule Commercial Banks constitute of those banks, which have included second schedule of
Reserve Bank of India (RBI) act 1934. RBI in turn includesonly those banks in thisschedule
that satisfy the criteria laid down vide section 42 (60 of the act) this sub sector can broadly
classified into:
Public sector
Private sector
Foreign sector
STRUCTURE OF INDIAN BANKING SYSTEM
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PRE E-BANKING SCENARIO
Traditional banking
Traditional banks offers many services to their customers ,including accepting customer
money ,deposits ,providing various banking services to customers, and making loans to
individuals and companies. Compared with traditional channel of offering banking services
through physical branches-banking uses the internet to delivering traditional banking to their
customers ,such as opening accounts, transferring funds and electric bill payment.
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E-Banking
E-banking can be offered in two main ways. First the existing bank with physical offices can
also establish an online site and offer banking services to its customers in addition to the regular
channel. For example, SBI is a leader in E-banking, offering walk in ,face to-face branching at
its branches .SBI customers can access their bank account through the internet ,and in addition
to the core E-banking services such as account balance inquiry ,funds transfer and electronic
bill payment.
Generally ,E-banking is provided without extra cost to customers .Customers are attracted by the
convenience of E-banking through the internet and ,in turn ,banks can operate more efficiently
when customer perform transaction by themselves rather going to a branch and dealing with a
branch representatives. One of the main concerns of E-banking in our country continues to be
security.
OPPORTUNITIES IN THE INDIAN BANKING
INDUSTRY
The Banking sector is considered the most lucrative option in todays job market. One could
work as a banking officer, probationary officer ,loan officer, home loan officer ,home loan
agent, loan manager etc. The growth in the Indian Banking Industry has been more qualitative
than quantitative and it is expected to remain the same in the coming years. Based on the
projections made in the "India Vision 2020" prepared by the Planning Commission and the Draft
10th Plan, the report forecasts that the pace of expansion in the balance-sheets of banks is likely
to decelerate.
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The total asset of all scheduled commercial banks by end-March 2010 is estimated at Rs 40,
90,000 crores. That will comprise about 65 per cent of GDP at current market prices as
compared to 67 per cent in 2002-03. Bank assets are expected to grow at an annual composite
rate of 13.4 per cent during the rest of the decade as against the growth rate of 16.7 per cent that
existed between 1994-95 and 2002-03. It is expected that there will be large additions to the
capital base and reserves on the liability side.
The Indian Banking Industry can be categorized into non-scheduled banks and scheduled banks.
Scheduled banks constitute of commercial banks and co-operative banks. There are about
67,000 branches of Scheduled banks spread across India. As far as the present scenario is
concerned the Banking Industry in India is going through a transitional phase.
PUBLIC SECTOR BANKS
The Public Sector Banks (PSBs), which are the base of the Banking sector in India account for
more than 78% per cent of the total banking industry assets. Unfortunately they are burdened
with excessive Non Performing assets (NPAs), massive manpower and lack of modern
technology. On the other hand the Private Sector Banks are making tremendous progress. They
are leaders in Internet banking, mobile banking, phone banking, ATMs. As far as foreign banks
are concerned they are likely to succeed in the Indian Banking Industry.
PRIVATE SECTOR BANKS
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Private Sector Banks operating are IDBI Bank ING Vyasa Bank, SBI Commercial and
International Bank Ltd, Bank of Rajasthan Ltd. and banks from the Public Sector include Punjab
National bank, Vijaya Bank, UCO Bank, Oriental Bank, Allahabad Bank among others. ANZ
Grind lays Bank, RBS Bank, American Express Bank Ltd, Citibank are some of the foreign
banks operating in the Indian Banking Industry.
Chapter 3
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Company Profile
COMPANY PROFILE
INTRODUCTION
State Bank of Mysore was established in the year 1913 as Bank of Mysore Ltd. under the
patronage of the erstwhile Govt. of Mysore, at the instance of the banking committee headed by
the great Engineer-Statesman,Late Dr.Sir M.Visvesvaraya. Subsequently, in March 1960,the
Bank became an Associate of State Bank of India.State Bank of India holds 92.33% of shares.
The Bank's shares are listed in Bangalore, Chennai,and Mumbai stock exchanges.
BRANCH NETWORK
http://text.statebankofmysore.co.in/index.php?option=com_content&view=article&id=24&Itemid=62http://text.statebankofmysore.co.in/index.php?option=com_content&view=article&id=24&Itemid=627/29/2019 cust satisfaction
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The Bank has a widespread network of 725 branches and 22 extension counters spread all over
India which includes 5 Small and Medium Enterprises Branches, 4 Industrial Finance branches,
3 Corporate Accounts Branches, 6 Specialized Personal Banking Branches, 10 Agricultural
Development Branches, 3 Government Business branches, 1 Asset Recovery Branch and 8
Service Branches, offering wide range of services to the customers.
HUMAN RESOURCES
The Bank has a dedicated workforce of 9926 employees consisting of 3179 supervisory staff,
6747 non-supervisory staff . The skill and competence of the employees have been kept updated
to meet the requirement of our customers keeping in view the changes in the environment.
ORGANIZATIONAL SET UP
While the Chairman of State Bank of India is also the Chairman of the Bank, The Managing
Director is assisted by a Chief General Manager and 6 General Managers.
PRODUTS AND SERVICES FROM SBM
Personal Banking
Deposit schemes
Savings Bank account Personal finances
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Public Provident Fund
Reverse Mortgage Loan
Special Housing Loan Product
NRI Services
Business Banking
SME financing
MSME Care Centre
Financing Trade & Services
Gold card for exporters
Debt restructuring for SME
Social and Rural Banking
Welfare Measures
Agriculture Finance
Micro Finance
No Frill Accounts
SHG Finance
Kalpatharu Grameen Bank
Cauvery Grameen Bank
Kisan Credit Card
Crop Insurance
Other Services
In conjunction with the State Bank Group, SBM has introduced
Insurance/MF/Credit Card
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Demat Services
Custodial Services
International Debit Card
E-payment of Taxes and Duties over Internet
Online Booking of Railway tickets and Online Bill Payments
Multi-City cheques for Business Customer
Chapter 4
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Literature review
LITERATURE REVIEW
Organizations need to retain existing customers while targeting non-customers. Measuring
customer satisfaction provides an indication of how successful the organization is at providing
products and/or services to the marketplace.
Customer satisfaction is an abstract concept and the actual manifestation of the state of
satisfaction will vary from person to person and product/service to product/service. The state of
satisfaction depends on a number of both psychological and physical variables which correlate
with satisfaction behaviors such as return and recommend rate. The level of satisfaction can also
vary depending on other factors the customer, such as other products against which the customer
can compare the organization's products.
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Work done by Parasuraman, Zeithaml and Berry (Leonard L) between 1985 and 1988 delivered
SERVQUAL which provides the basis for the measurement of customer satisfaction with a
service by using the gap between the customer's expectation of performance and their perceived
experience of performance. This provides the researcher with a satisfaction "gap" which is semi-
quantitative in nature. Cronin and Taylor extended the disconfirmation theory by combining the
"gap" described by Parasuraman, Zenithal and Berry as two different measures (perception and
expectation) into a single measurement of performance relative to expectation.
The usual measures of customer satisfaction involve a survey with a set of statements using a
likert or scale. The customer is asked to evaluate each statement in terms of their perception andexpectation of performance of the service being measured.
Why Organizations Focus on Customer Satisfaction?
Businesses monitor customer satisfaction in order to determine how to increase their customer
base, customer loyalty, revenue, profits, market share and survival. Although greater profit is the
primary driver, exemplary businesses focus on the customer and his/her experience with the
organization. They work to make their customers happyand see customer satisfaction as the key to survival and profit. Customer satisfaction
in turn hinges on the quality and effects of their experiences and the goods or services
they receive.
What is Customer Satisfaction?
The definition of customer satisfaction has been widely debated as organizations
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increasingly attempt to measure it. Customer satisfaction can be experienced in a variety
of situations and connected to both goods and services. It is a highly personal assessment
that is greatly affected by customer expectations. Satisfaction also is based on the
customers experience of both contact with the organization (the moment of truth
as it is called in business literature) and personal outcomes.
Customer Satisfaction Surveys
Surveys and questionnaires are the most common marketing research methods. Typically, they
are used to: assess the level of customer satisfaction with a particular product ,service orexperience; identify factors that contribute to customer satisfaction and dissatisfaction;
determine the current status or situation of a product or service; compare and rank providers;
estimate the distribution of characteristics in a potential customer population; or help establish
customer service standards.
Experts take on Customer Satisfaction
According to D.M. Mahaptra The business line April 11 - 2008(page 4)
The working of the customer's mind is a mystery which is difficult to solve and understanding
the nuances of what customer satisfaction is, a challenging task. This exercise in the context of
the banking industry will give us an insight into the parameters of customer satisfaction and
their measurement. This vital information will help us to build satisfaction amongst the
customers and customer loyalty in the long run which is an integral part of any business. The
customer's requirements must be translated and quantified into measurable targets. This provides
an easy way to monitor improvements, and deciding upon the attributes that need to be
concentrated on in order to improve customer satisfaction. We can recognize where we need to
make changes to create improvements and determine if these changes, after implemented, have
led to increased customer satisfaction. "If you cannot measure it, you cannot improve it." -
Lord William Thomson Kelvin (1824-1907).
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According to Megha Trivedi the Economics times December 7 2009 (Page 7)
Customer satisfaction has become a major source of concern in retail banking business. With
exceptional progress in the establishment of banks in India, banks are increasingly interested in
retaining existing customers and targeting new customers. In this paper, it is proposed that
quality of service is an indicator of customer satisfaction. Measuring service quality involves
objective feedback about existing customers of ICICI bank with respect to their expectations and
services offered. Performance of a bank may be evaluated with regard to a set of satisfaction
parameters that indicate the strengths and weaknesses of an organization. Standard scale of
SERVQUAL developed by Parasuraman et al. has been used to conduct the survey. This study
is based on five overall dimensions of customer satisfaction with services provided by ICICI.
The five dimensions used to measure service quality are tangibility, reliability, responsiveness,
assurance and empathy. This study gives useful insights to boost customer satisfaction towards
ICICI
According to IIBF Vision Vol II 2012 s
Customer satisfaction represents a modern approach for quality in enterprises and organizations
and serves the development of a truly customer-focused management and culture. Measuring
customer satisfaction offers an immediate, meaningful and objective feedback about clients
preferences and expectations. In this way, companys performance may be evaluated in relation
to a set of satisfaction dimensions that indicate the strong and the weak points of a business
organization. This paper presents an original customer satisfaction survey in the private bank
sector. The implemented methodology is based on the principles of multi criteria analysis and
preference disaggregation modeling. The most important results are focused on the
determination of the critical service dimensions and the segmentation to customer clusters with
distinctive preferences and expectations.
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Chapter 5
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Research
methodology
RESEARCH METHODOLOGY
TYPE OF RESEARCH USED
Descriptive Research
Descriptive research includes survey and fact finding enquiries of different kinds. The major
purpose of descriptive research is a description of the state of affairs as it exists at present. The
main feature of this type of research is that the researcher has no control over the variables. He
can only report what has happened or what is happening
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Research Design
A research design is the arrangement of conditions for collections and analysis of data in a
manner that aims to combine relevance to the research purpose with economy in procedure. In
fact, the research design is the conceptual structure within which research is conducted: it
constitutes the blueprint for the collection, measurement and analysis of data
DEFINITION OF KEY TERMS
Descriptive research
Descriptive research includes surveys and fact-finding enquiries of different kinds. The major
purpose of descriptive research is description of the state of affairs as it exists at present
Convenience Sampling
When population elements are selected for inclusion in the sample based on the ease of access, it
can be called convenience sampling
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Population
All the items under consideration in any field of enquiry constitute a universe or population
Sample Size
This refers to the number of items to be selected from the universe to constitute a sample. The
size of the sample should neither be excessively large, nor too small, It should be optimum
Sampling unit
A decision has to be taken concerning a sampling unit before selecting a sample, it may be an
individual
Sampling error
Sample surveys do imply the study of a small portion of the population and such there
would naturally be a certain amount of inaccuracy in the information collected. This inaccuracy
may be termed as sampling error. Sampling errors are those errors which arise on account of
sampling and they generally happen to be random variations in the sample estimates around the
true population values.
Population/Universe
The population for the study consists of customers of SBM in Chennai Main
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SOURCES OF DATA
Primary Data: - Questionnaires were used for collecting primary data
Secondary Data: Secondary data were collected from previous studies, IIBF journals,
websites and SBMs intranet facility called SBM NEST.
SAMPLING METHOD
Convenience Sampling-
When population elements are selected for inclusion in the sample based on the ease of access, it
can be called convenience sampling
SAMPLE SIZE
Sample size chosen for the purpose of the study is 50 clients of SBM Chennai Main
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TOOLS FOR ANALYSIS
The major statistical tools used for the purpose of this study are:
Percentage
Pie chart
Bar chart
Column chart
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Chapter 6
Data analysis and
Interpretation
1.AGE PROFILE OF RESPONDENTS
Age Group No. respondent In %
40 15 30
Total 50 100
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Interpretation
This table shows that 10% of the respondents are less than age of 20, 60% of the respondents are
in between 20-40 and 30% of the respondents are above age of 40.
2. GENDER PROFILE OF RESPONDENTS
Category No of respondent Response in %
MALE 32 64
FEMALE 18 36
TOTAL 50 100
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Interpretation
This table shows that 64% account holders are males and 36% of account holders are females.
3. Are you aware about the following products and services being
offered by the bank?
factors Yes % No %
Money transfer 32 64 18 36
internet banking 29 58 21 42
mobile banking 17 34 33 66
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Interpretation
64% of the respondents are aware about the money transfer and 36% of the respondents
are not aware about fastmoney.58% of the respondents are aware about the internet and 42% of
the respondents are not aware. 34% of the respondents are aware about mobile banking and rest
of the respondents is not aware.
4. How satisfied are you with our cheque clearing facilities?
Factors No of respondents Response %
Highly satisfied 20 40
Satisfied 15 30
Neither satisfied nor
dissatisfied
5 10
Dissatisfied 10 20
Highly dissatisfied - -
Total 50 100
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Interpretation
from the above table and graph it is clear that 40% of the respondents are highly satisfied,30%
of the respondents are satisfied,1o% of the respondents are neither satisfied nor dissatisfied and
20% of the respondents are highly dissatisfied
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5. What are the factors you look in a bank when you decide to start a
banking relationship?
(assign scores totalling to 100)
Weighted Average Score obtained from respondents
Factors Total
Branch network 28
ATM network 45
Personalization of Product 15
Service Charges 10
Others 2
Interpretation:
In this question it is asking about the reason for deciding the relationship and the respondent has
given prime consideration for the wide Branch network and has given 28 points, second ATM
rank is 45points, third product personalization is 15 points,Service charges gets 10 points, and
other factors is given 2 points.
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6. How satisfied are you with interest rate for deposits at our bank?
Factors No of respondents Response in %Highly satisfied 10 20
Satisfied 20 40
Neutral 5 10
Dissatisfied 10 20
Highly dissatisfied 5 10
Total 50 100
Interpretation
20% of the respondents are highly satisfied, 30% of the respondents are satisfied ,10% of the
respondents are neither satisfied nor dissatisfied and 16% of the respondents are dissatisfied and
14% of the respondents are highly dissatisfied.
7. How would you rate our ATM facilities?
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Interpretation
40% of the respondents are highly satisfied, 30% of the respondents are satisfied ,4% of the
respondents are neither satisfied nor dissatisfied and 20% of the respondents are dissatisfied and
6% of the respondents are highly dissatisfied.
Factors No of respondents Percentage
Highly satisfied 20 40
Satisfied 15 30
Neutral 2 4
Dissatisfied 10 20Highly dissatisfied 3 6
Total 50 100
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8. Are you satisfied with DD services?
Factors No of respondents percentage
Highly satisfied 10 20
Satisfied 15 30
Neither satisfied nor
dissatisfied
10 20
Dissatisfied 5 10
Highly dissatisfied 10 20
Total 50 100
Interpretation
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From the above table and graph it is clear that 34% of the respondents are highly satisfied,30%
of the respondents are satisfied,16% of the respondents are neither satisfied nor dissatisfied and
12% of the respondents are dissatisfied 8% of the respondents are highly dissatisfied.
9. Would you recommend our bank to a friend, relative or an associate?
Factors Yes No May be
respondents 19 18 13% 38 36 26
Interpretation
38% of the customers are willing to recommend, 36% of the customers are not willing to
recommend and remaining customers are neutral.
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10. Is the Bank accessible to you easily?
Response No of respondents Response in %
Yes 30 60
No 20 40
total 50 100
Interpretation
From the above graph we can interpret that only 60% of customers can access the bank and
rest of the customers find it difficult / cant access the bank.
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11. Rate your level of satisfaction with the service of our staff.
Interpretation
Factors No of respondents Response in %
Highly satisfied 24 48
Satisfied 12 24
Neutral 6 12
Dissatisfied 5 10
Highly satisfied 3 6Total 50 100
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48% of the customers are highly satisfied, 24% of the customers are satisfied, 12% of the
customers dont have any opinion 10% of the customers are dissatisfied and 6% of the
customers are highly dissatisfied
12. Overall Service quality of SBM
Factors No of respondents Percentage
Average 16 32
Good 19 38
Very good 10 20
Excellent 0 0
Poor 5 10
Total 50 100
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Chapter 7
FINDINGS AND
SUGGESTIONS
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FINDINGS
70% of the customers think that the bank caters all their banking needs.
64% of the customers are having the opinion that SBM offers competitive interest rates.
The rest 36% are dissatisfied with the interest rates.
60% of the customers are having the opinion that SBM offers competitive service
charge.
64% of the respondents are using the service of other banks.
20% of the respondents rate the overall services quality of SBM as very good,32% as
average,38% as good and 10% as poor.
42% of the respondents says that SBM have to improve their customer service ,38%of
the respondents says to avoid delay in response and 20% had opined to improve the
product range offered.
38% of the respondents recommend SBM to others because of its personalized services
offered, while 36% says no.
75% of the respondents look for the branch network when they decide to start a
relationship .ATM network, customer service; choice of product occupies the consequent
position.
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Majority opts for SBM because of their personalized service. Wide branch network,
customer service, 100% core banking are the other factors respectively.
64% of the respondents are aware of fast money ,58% of the respondents are aware of
internet banking and 34% are aware of mobile banking
10% of the lady customers are satisfied with the facilities available at the SBM.4% are
dissatisfied while 6% have no opinion
60% of the respondents agree with the accessibility to the bank and 40 % of the
respondents do not agree.
40% are satisfied with the parking facilities of the bank while 60% are not satisfied with
the parking facilities.
80% of the customers agree that the building is spacious.20% disagree.
48% of the respondents are highly satisfied, 24 % of the respondents are satisfied by the
part of bank staffs, 12 % of the respondents are neither satisfied nor dissatisfied by the
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part of bank staffs, 10 % of the respondents are dissatisfied by the part of bank staff and
remaining 6 % of the respondents are highly dissatisfied.
SUGESSTIONS
Majority of the respondents are satisfied by the service of bank, but some of the areas where the
bank needs to improve on according to the respondents are:
Provide SMS alert to all the customers (Currently being offered only to SB A/c holders)
Provide competitive interest rate in both deposit and Loans.
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Make necessary steps to reduce the loan processing period which now takes 15 days.
Conduct customer awareness and training programs in order to make them aware and use
internet banking and mobile banking so that it saves a lot of transaction time of the
customers.
SBM should provide provisions for door-to-door service in the case of opening of a new
account.
Increase the number of counters so that the customer need not have to wait for a long
time for the transaction.
Provide uninterrupted banking i.e. without any breaks during the banking hours.
(Currently lunch hours are from 2:00 pm to 2:30pm)
Introduce Dynamic Queue System as followed in SBI.
Introduce Privilege banking for HNI and NRI customers.
Cleanliness of banking hall can be improved
Introduce Customer Service Assistants as in ICICI Bank to help filling up forms, challans
etc.
Make arrangements for better parking facility.
Information brochures regarding banks product can be distributed/ kept in ATMs.
CONCLUSION
The project entitled Customer satisfaction in State Bank of Mysore with special reference
to Chennai Main branch has helped me in studying satisfaction about services and products
offered to customers. Since the opening up of the banking sector, private banks are in the fray
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each one trying to cover more market share than the other. Yet, SBM is far behind SBI. SBM
must also be alert what with Private Banks (ICICI, HDFC) breathing down its neck.
I am sure the bank will find my findings relevant and I sincerely hope it uses my suggestions
enlisted, which I hope will take them miles ahead of competition.
In short, I would like to say that the very act of the concerned management at SBM in giving me
the job of critically examining consumer satisfaction towards financial products and services of
the company is a step in their continual mission of making all round improvements as a means
of progress I am sure the bank has a very bright future to look forward to and will be a
trailblazer in its own right.
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BIBLIOGRAPHY
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BIBLIOGRAPHY
1.PHILIP KOTLER, Marketing Management, Prentice Hall, 2001
2.PHILIP KOTLER, Marketing Management, Pearson Education, New Delhi,
11th Edition 2002
3.CR KOTHARI, Research Methodology Methods and Techniques, New Age
International Publishers, New Delhi
4.ZEITHMAL ET AL, Services Marketing, Tata McGrawhill Publications
Websites
1 .www.wikipedia.com
http://www.wikipedia.com/http://www.wikipedia.com/7/29/2019 cust satisfaction
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2 www.businessobjects.com
3 www.yahooanswers.com
4 www.statebankofmysore.com
5 .SBM NEST
http://www.businessobjects.com/http://www.yahooanswers.com/http://www.statebankofmysore.com/http://www.businessobjects.com/http://www.yahooanswers.com/http://www.statebankofmysore.com/7/29/2019 cust satisfaction
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ANNEXURE
QUESTIONNAIRE
Dear Sir/Madam, Please fill out this Customer satisfaction survey to help us
assess our performance and to serve you better. Rate our services from 1-5
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1- Very Dissatisfied
2- Dissatisfied
3- Neutral
4. Satisfied
5- Very satisfied
1.Name and Account Number
2. Banking with us since:
3.Home Branch:
4. Gender :
5. Are you aware of the following products and services being offered by the bank?
i) Money Tranfer yes [ ] No [ ]
ii) Internet banking yes [ ] No [ ]
iii) Mobile banking yes [ ] No [ ]
6. When you think of SBM what comes to your mind first?
i) Personalized service [ ] ii) Wide branch network [ ] iii) Customer service [ ]
vi) 100 % core banking vii) others (please specify) [ ]
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7. What are the factors you look in a bank when you decide to start a banking
relationship?
i) Wide branch network [ ] ii) ATM network [ ] iii) customer service [ ]
iv) Choice of products [ ] v) others (please specify) [ ]
6. How satisfied are you with Demand Draft services?
7. How satisfied are you with ATM facilities?
8. How satisfied are you with the interest rate of SBM deposits in the bank?
9. How satisfied are you with the loans granted by SBM?
10. How would you rate our cheque clearing facilities?
11. Would you recommend our bank to a friend relative or an associate?
i) Yes [ ] ii) No [ ] iii) may be [ ]
12. Is the Bank conveniently accessible to you?
Yes [ ] No [ ]
13. Are you satisfied with the parking facilities?
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Yes [ ] No [ ]
14. Is the building spacious enough for the various banking processes?
Yes [ ] No [ ]
15. Rate your level of satisfaction based on the attitude of the staff serving you.
16. What do you feel about the overall services quality of SBM bank?
i) average [ ] ii) good [ ] iii) very good [ ] vi) excellent [ ] vii) poor [ ]
17. Which service(s) do you think SBM should include newly?
i) HNI Privelege banking counter [ ] ii) Flexi Deposit [ ]
iii) Automatic Cheque/ Cash deposit Machine [ ]
iv) Uninterrupted banking hours [ ] v) Door Step Banking
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