A study on CUSTOMER SATISFACTION FOR FASTRACK WATCHES PROJECT REPORT SUBMITTED BY BELLI P K S2 MBA UNDER THE SUPERVISION OF. Customer Satisfaction Project Report - Free download as Word Doc .doc), PDF File .pdf), Text File .txt) or read online for free. Page 2 DECLARATION I, the undersigned, hereby declare that the Project Report entitled “A Study on Analysis of Customer Satisfaction with.
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plz send me ready made project on customer satisfaction 31st March From India, Thana. Final project report submitted in the fulfillment of requirements for the satisfaction level amongst the customers of Maruti as the popular punchline also says. It is a moment of pleasure to present this project report undertaken by me The project title is “A STUDY ON CUSTOMER SATISFACTION AT.
Thus, a fine dine restaurant is better Page 15 located in a busy, upscale market as against on the outskirts of a city. Similarly, a holiday resort is better situated in the countryside away from the rush and noise of a city. Thus, service providers offering identical services such as airlines or banks and insurance companies invest heavily in advertising their services. This is crucial in attracting customers in a segment where the services providers have nearly identical offerings. The final three elements of the services marketing mix - people, process and physical evidence - are unique to the marketing of services.
PEOPLE People are a defining factor in a service delivery process, since a service is inseparable from the person providing it. Thus, a restaurant is known as much for its food as for the service provided by its staff.
The same is true of banks and department stores. Consequently, customer service training for staff has become a top priority for many organizations today. PROCESS The process of service delivery is crucial since it ensures that the same standard of service is repeatedly delivered to the customers. Therefore, most companies have a service blueprint which provides the details of the service delivery process, often going down to even defining the service script and the greeting phrases to be used by the service staff.
Many hair salons invest in comfortable and stylish sitting areas with magazines and plush sofas for patrons to read and relax while they wait. Similarly, many restaurants invest heavily in their interior design and decorations to offer a tangible and unique experience to their guests.
Manufacturing sector is the backbone of any economy. It fuels growth, productivity, employment, and strengthens agriculture and service sectors. Astronomical growth in worldwide distribution systems and IT, coupled with opening of trade barriers, has led to stupendous growth of global manufacturing networks, designed to take advantage of low- waged yet efficient work force of India.
Narendra Modi, the Prime Minister of India, aims to give global recognition to the Indian economy and also place India on the world map as a manufacturing hub. India has also set for itself an ambitious target of increasing the contribution of manufacturing output to 25 per cent of gross domestic product GDP by Market Size: India has become one of the most attractive destinations for investments in the manufacturing sector. Government Initiative: In a bid to push the 'Make in India' initiative to the global level, Mr.
Modi showcased India as a business friendly destination to attract foreign businesses to invest and manufacture in the country. Page 17 Engineering Industry: The Indian Engineering sector has witnessed a remarkable growth over the last few years driven by increased investments in infrastructure and industrial production. India on its quest to become a global superpower has made significant strides towards the development of its engineering sector. The country is now a part of an exclusive group of 17 countries who are permanent signatories of the WA, an elite international agreement on engineering studies and mobility of engineers.
Apart from these traditional markets, markets in Eastern and Central European countries such as Poland also hold huge promise. India exports its engineering goods mostly to the US and Europe, which accounts for over 60 per cent of the total exports. Recently, India's engineering exports to Japan and South Korea have also increased with shipments to these two countries rising by 16 and 60 per cent respectively.
The engineering sector in India attracts immense interest from foreign players as it enjoys a comparative advantage in terms of manufacturing costs, technology and innovation. The above, coupled with favourable regulatory policies and growth in the manufacturing sector has enabled several foreign players to invest in India.
Page 18 Customer RelationshipManagement: It often involves using technology to organize, automate and synchronize sales, marketing, customer service, and technical support. These systems can track customer analysis by customer clicks and sales. Places where CRM is used include call centers, social media, direct mail, data storage files, banks, and customer data queries.
The goal of the system is to track, record, store in databases, and then data mine the information in a way that increases customer relations predominantly increased ARPU, and decreased churn. The CRM codifies the interactions between you and your customers so that you can maximize sales and profit using analytics and KPIs to give the users as much information on where to focus their marketing and customer service to maximize revenue and decrease idle and unproductive contact with your customers.
The contact channels now aiming to be omni-channel from multi-channel use such operational methods as contact centers. The CRM software is installed in the contact centers, and help direct customers to the right agent or self-empowered knowledge. CRM software can also be used to identify and reward loyal customers over a period of time. Despite the general notion that CRM systems were created for the customer-centric businesses, they can also be applied to B2B environments to streamline and improve customer management conditions.
B2B relationships usually have longer maturity times than B2C relationships. For the best level of CRM operation in a B2B environment, the software must be personalized and delivered at individual levels. Sales force automation. SFA is a technique of using software to automate the business tasks of sales, including order processing, contact management, information sharing, inventory monitoring and control, order tracking, customer management, sales forecast analysis and employee performance evaluation.
Use of technology. It applies data warehouse technology in order to aggregate transaction information, to merge the information with CRM solutions, and to provide KPI key performance indicators. Opportunity management. This feature helps the company to manage unpredictable growth and demand and implement a good forecasting model to integrate sales history with sales projections.
Make a strategic decision on what problems you want your CRM system to address, what improvements or changes it should bring in the business processes of the organization. Choose an appropriate project manager. Ensure executive sponsorship and top management support.
Empower team members with the required authority to complete the tasks. Select the correct implementation partner. They must have both vertical and horizontal business knowledge, as well as technical expertise.
Define KPI's that will measure the project's success 7. Use a phased approach. Work towards long-term enterprise-scale implementation through a series of smaller, phased implementations. Page 20 Our success is build on a strong corporative infrastructure, innovative techniques and safe business practices and our quality product. Page 22 Established in , Kohinoor Mech.
These cater widely to the needs of various manufacturing industries. The products offered by the company are manufactured using optimum quality factor inputs and are in strict adherence to the defined industry norms.
Also, the factor inputs used while manufacturing these products are sourced from some of the specialized and dependable vendors of the industry. The products offered by the company are extensively applauded by our patrons for their unmatched quality, enhanced durability, easy installation, minimum maintenance and reliable functionality. To deliver our clients a superior quality range of product, the company manufactures these products using top quality materials and checks them on various parameters.
The high quality standards it has been able to maintain have helped it to gain the ISO certification. For the complete satisfaction of the clients the company also packages the consignment and provides free delivery facility. Backed by a good infrastructural facility, the company is able to accomplish the exact needs of our customers in a well organized way.
The main objective of the company is to increase the level of contentment of their patrons in each aspect. Under the able guidance of the CEO, Mr. Nayyar Azam, the company has been able to carve a niche in this competitive business.
His vast experience of 25 years and in-depth knowledge of this domain has helped the company to gain the invaluable trust of esteemed clients.
Page 25 Business Plan: Over the years the company has achieved an untarnished image and envious position in the domestic markets. It is due to dedicated efforts of their workforce and superior quality of their products that even big organizations like JCB Manufacturing Ltd.
The factors which have contributed in growth of the organization are as follows: Page 29 A research project may also be an expansion on past work in the field. To test the validity of instruments, procedures, or experiments, research may replicate elements of prior projects, or the project as a whole. Approaches to research depend on epistemologies, which vary considerably both within and between humanities and sciences.
There are several forms of research: Being a systematic enquiry, it requires careful planning of the orderly investigation process. The steps of marketing research process are highlighted in the following flow diagram.
It includes surveys and fact finding enquiries of different kinds. It is a fact- finding investigation with adequate interpretation.
It is the simplest type of research, and is more specific than an exploratory study, as it focuses on particular aspects of the problem being studied, so research design used for this project was descriptive research design. Descriptive research method was the best method applicable to the existing problem mentioned in this project report. Here the study is conducted to determine the fact i. Usually it is said that if marketing would be a train, than market research would be the locomotive.
In other words, market research should ideally be the starting point on any marketing exercise.
Conducting any marketing exercise- is it related to pricing, promotion or distribution of a product or service. Without researching the potential market is as sensible as setting out sell sand in the Sahara Desert. Market research provides the answers to all the questions that generally occupy the minds of marketers, at every stage of the marketing process.
Specifically, it addresses three questions: Hence sampling becomes inevitable. A sample is only a portion of the universe of population. Sampling Unit: Sample unit may be geographical one such as State, District and Village etc. The researcher will have to decide one or more unit that has to select for his study. The period of study has been from May 19th, to July 16th, In this Project report, the sampling unit includes the customers from Mumbai Region.
Earlier, organizational administrators concentrated only on the satisfaction of external customers i.
But now it is being realized that if the internal customer is satisfied the quality as well as the quantity is also appreciable.
Higher the customer satisfaction index, higher will be the quality of the production. Thus, every deptt. To serve a final customer first of all a company has to satisfy his employees. If employees are satisfied then they will ultimately satisfy the final customer. Three types of marketing arises.
Company satisfy their employees because they are the person in touch with the final users. These companies can outdo their competition if they can move from product and sales philosophy to a marketing philosophy.
We spell out in detail how companies can go about winning customers and outperforming competitors.
MBA Marketing Project : Customer satisfaction
The answer lies in doing a better job of meeting and satisfying customers needs. Only customer-centered companies are adept at building customers, not just building product. They are skilled in market engineering, not just product engineering. The marketing department can be effective only in companies whose various departments and employees have designed and implemented a competitively superior customer value-delivery system.
Although the customer oriented firms seek to create high customer satisfaction, its main goal is to maximize customer satisfaction ,first the company can increase customer satisfaction by lowering its prices, but results may be lower profits second the company might be able to increase prices. All this led to the retail boom in India.
People not just demanded more from their banks but also received more. In terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets relative to other banks in comparable economies in its region. The Reserve Bank of India is an autonomous body, with minimal pressure from the government.
The stated policy of the Bank on the Indian Rupee is to manage volatility but without any fixed exchange rate-and this has mostly been true. With the growth in the Indian economy expected to be strong for quite some time-especially in its services sector-the demand for banking services, especially retail banking, mortgages and investment services are expected to be strong.
Currently, India has88 scheduled commercial banks SCBs - 28 public sector banks that is with the Government of India holding a stake , 29 private banks these do not have government stake; they may be publicly listed and traded on stock exchanges and 31 foreign banks. They have a combined network of over 53, branches and 17, ATMs The bank witnessed good growth in its business and profit and also came out with a public issue of its quality for the 1st time during the year, which evoked excellent retail response.
The bank continue to introduce new products, upgrade the technology support system to improve operational efficiencies and strengthen its human resource based on the whole, has been a productive years for the bank in terms of both growth and consolidation of business as well as strengthening of its infrastructure.
The bank ended the year conducting business in 80 cities and towns, with branches and extension counters and ATMs. The AXIS bank will spread out across the country with operation in 23 states and 1 union territory. Promoted the Bank jointly National Insurance The Bank today is capitalized to the extent of Rs. Presently the Bank has a very wide network of more than branch offices and Extension Counters. The Bank has a network of over ATMs providing 24hrs a day banking convenience to its customers.
This is one of the largest ATM networks in the country. UTI-I holds a special position in the Indian capital markets and has promoted many leading financial institutions in the country. As on the year ended March 31, the Bank had a net worth of Rs. Net Profit for the year was up While the other two banks have envisaged retail banking as a key area of strategic emphasis — with the share of the retail business both on the funding and asset sides growing strongly year after year— the share of retail business, particularly retail assets, has actually come down quite sharply in the case of Axis Bank.
The numbers here are quite interesting. In the case of Axis Bank, retail loans have declined from 30 per cent of the total loan book of Rs 25, crore in June to around 23 per cent of loan book of Rs. Even over a longer period, while the overall asset growth for Axis Bank has been quite high and has matched that of the other banks, retail exposures grew at a slower pace.
MBA Final Year Project on Customer Satisfaction
If the sharp decline in the retail asset book in the past year in the case of Axis Bank is part of a deliberate business strategy, this could have significant implications not necessarily negative for the overall future profitability of the business. With the high-level of mid-corporate and wholesale corporate lending the bank has been doing, one would have expected the net interest margins to have been under greater pressure.
The bank, though, appears to have insulated such pressures. Interest margins, while they have declined from the 3. The margins for ICICI Bank are lower despite its much larger share of the higher margin retail business, since funding costs also are higher.
Such strong emphasis and focus on lending also does not appear to have had any deleterious impact on the overall asset quality. From a medium- term perspective, it appears that Axis Bank could be charting out a niche for itself in the private bank space. That strategy also has its pluses in terms of the relatively higher margins in some segments of the retail business and the in-built credit risk diversification and mitigation achieved through a widely dispersed retail credit portfolio.
But, as indicated above, Axis Bank has been to able to maintain the quality of its loan portfolio despite the concentrated nature of wholesale corporate lending. The Bank's Registered Office is at Presently, the Bank has a very wide network of more than branch offices and Extension Counters.
The Bank has a network of over ATMs providing 24 hrs a day banking convenience to its customers. The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.
However, the difference this quarter is that the growth in profitability has been driven more by a significant jump in the net interest income core business rather than non-interest income unlike in last several quarters. Net interest income leaped by 91 per cent y-o-y to Rs crore—the highest in the past four quarters—as advances and deposits grew by 50 per cent and 35 per cent respectively and also there was an increase in net interest margin NIM.
Its NIM went up by 63 basis points q-o-q and 91 basis points y-o-y to3. This was because of a jump in yield on advances while CASA current and savings account was maintained at 45 per cent sequentially. Though other income went up 74 per cent y-o-y to Rs crore, it was still lower than the 87 per cent growth reported in the September quarter. All these factors led to doubling of operating profit to Rs crore while operating expenses went up 67 per cent. However, its net profit grew relatively slower at 66 per cent to Rs crore as provisions and contingencies went up per cent and a 68 per cent jump was recorded in tax provisioning.
However, growth in net profit is still higher than previous three quarters and has been higher than expectations. Axis Bank is relatively immune to the slowdown in the retail credit and high cost of funding. It seems to be quite clear from the strategic decision about the way forward, the change in identity, the positioning of the bank, the pros and cons of pursuing organic growth, etc.
One of the reasons for bringing changes in the corporate identity is to enhance the image of the bank because now they want to become an MNC bank. Why did the bank decide to change its brand name? Bank has done this partly because there are shareholder-unrelated entities that carry the UTI brand, which was becoming increasingly untenable.
If there are no shareholder relations between the two organizations, how can they actually share a common name? When it became clear to the bank that it was no longer tenable, they decided to have a brand of our own. The name Axis was chosen as it means a line of reference, around which everything is measured. Their feeling is that with time, people will think of the bank brand as Axis Bank.
The tough test was whether in the next six months people would forget old name or not. Otherwise, nothing has really changed in the bank. They raised capital worth Rs 4, crore, which helped Axis Bank to start off on a strong footing.
They feel that this capital would last at least for three years in the case of pure organic growth. The UTI brand had a quasi-government sovereign ring to it, especially when it goes outside metros.
It was an advantage, then why bank have taken this decision on cost of losing it? So they have never really able to ride on the brand.
The pace at which customer base have grown indicates the level of customer service bank provide. Also, the UTI brand was seen as a They were board-managed private sector entity. By changing the name, Bank has reinforced this image. Where Axis Bank positioned from the business point of view? This is part of a journey for becoming a pan-Asian bank and then, eventually, a bank that is more multinational. They are foraying into smaller towns and entering district headquarters in a big way.
In the next thirty months, they want to be present in district headquarters. They have received licenses to open branches and ATMs. Also they are planning to open branches by July , half of which would be in large cities.
They are also setting up a large agriculture financing business, for which they need to be close to farmers; hence the bank is going to open branches in villages. Besides, the bank has set up priority banking branches for customers with deposits of over Rs 5 lakh. They have three such specialized branches now, and planning to have one each in all the major metros. Would it have been very tempting for the bank to stay on the existing brand by paying a higher royalty, given the cost and time involved in this exercise?
In recent years, the Bank has contributed more than their fair share on restoration of the UTI brand. But when it was clear to them that there was no other option, they decided to bite the bullet. Bank decided to assume their very own identity. The split of UTI was the starting point for what was eventually a search for a new identity. When Axis Bank looks at private sector peers, there are missing links, since most of them have a mutual fund and insurance business?
As the first step towards diversion, bank has set up an AMC to manage a private equity venture. They would be in a position to launch the first trenched of the fund by end of September The AMC will provide equity support for infrastructure projects. The account is an endeavor by the Bank to understand the consumers' needs and redefine banking to suit your requirements for a truly comfortable banking experience.
Easy Access Savings Account gives you instant access to your money anywhere, anytime. Possessing a range of unmatched features, it has been devised to better suit the convenience of our eclectic client base.
Krishi Savings Account Kheti Ho Khushhali Ki Axis Bank offers a unique savings account which is easy to operate and allows you to transact immediately. This product has been specially designed keeping in mind the unique requirements of a farmer and true to its nature has been called the Krishi Savings Account. Some of the features of our new product are: Average Balance Requirement This account is offered with the requirement of maintaining the half-yearly average balance of Rs only.
We leverage on our extensive network of distribution channels spread across centers through a network of more than branches and ATMs as on 31stMarch, besides our superior service delivery model and product features, as a strong differentiator, to provide value to the end user. Right from shuttling between a job and family to taking care of her finances she has to be on her toes all the time. Keeping this in mind, we at Axis Bank have designed a savings account best suited for the woman of today.
With the Smart Privilege Account, you can manage your money and your life and as Furthermore Axis Bank's Smart Privilege Account ensures that you have enough time for all the important things in life. There could be an instance when at 3 am you could require cash.
With our round-the-clock access you can withdraw cash up to Rs.He started his career as a management consultant before moving, in , to pacificTelesis group in San Francisco.
It leads to business development. Arabian traders were able to make good money supplying these spices, even with the high prices paid to the Indian middle men, not only to their countrymen back home, but to Europe as well. Many brands have vice lines which target a separate segment of population.
Under the WTO-regime, countries hitherto inactive in the spice trade have started emerging as producers, posing a substantial threat to traditional exporters like India.
You can change your ad preferences anytime. The maturity of fixed or term deposits formed as a result of transfer of money from the Savings Bank account will be for a maximum period of days and the interest will be calculate don simple interest rate basis.