A Study on Customer Preference on Depositary Account

Topics: Sampling, Banks of India, Mutual fund Pages: 37 (8826 words) Published: April 9, 2013
INTRODUCTION The report contains the organizational study done at ICICI Bank. The report title is “Customer preference & Attributes towards Different deposit Accounts of ICICI Bank”. The report gives an overview of the Bank and awareness of customers about different types of products and services offered by ICICI Bank. The methodology adopted for the study was through a structured questionnaire, which is targeted to the different respondent in CHENNAI. For this purpose sample size of 100 was taken. The data collected from the different respondent was analyzed thoroughly and presented in the form of charts and tables. ICICI must advertise regularly and create brand value for its products and services. Most of its competitors like HDFC, Kodak Mahindra and nationalized banks use television advertisements to promote their products. The Indian consumer has a false perception about private banks – they feel that it would not safe. Safety and returns are the two main reasons people invest in banks. On the whole ICICI bank is a good place to work at. Every new recruit is provided with extensive training on the products of ICICI. This training enables an advisor/sales manager to market the policies better. The company should try to create awareness about itself in India. . With an

improvement in the sales techniques used, a fair bit of advertising and modifications to the existing product portfolio, ICICI would be all set to capture the banking market in India as it has around the globe. Customer preference & Attributes:Customer preference & Attributes refers that prediction of individual preference and attribute is a difficult task, it is an important task however since it represents a fundamental step in understanding consumer choice regarding the different products of ICICI Bank. Asking whatever or not preference can be predicted on the basis of knowledge of the customer and his characteristics are a prelude to identifying the causes of preference and the means by which it can be influenced. The study of customer preference is an application of model of customer attitude; the basis hypothesis is the measures specific to the preference alternatives, rather than more general measures such as those of socioeconomic and personality characteristics would lead to successful prediction. The level of preference and attribute are 1

determined not only by the quality and type of customer experience but also by the customer’s expectations.  A customer may be defined as someone who has a direct relationship with, or is directly affected by your agency and  Receives or relies on one or more of your agency’s services or products.

Customers in human services are commonly referred to as service users, consumers or clients. They can be individuals or groups. An organization with a strong customer service culture places the customer at the centre of service design, planning and service delivery. Customer centric organizations will:  Determine the customer’s expectations when they plan listen to the customer as they design.  Focus on the delivery of customer service activities value customer feedback when they measure performance.

There are a number of reasons why customer satisfaction is important in Banking Sector:  Meeting the needs of the customer is the underlying rationale for the existence of community service organizations. Customers have a right to quality services that deliver outcomes.  Organizations that strive beyond minimum standards and exceed the expectations of their customers are likely to be leaders in their sector.  Customers are recognized as key partners in shaping service development and assessing quality of service delivery. The process for measuring customer satisfaction and obtaining feedback on organizational performance are valuable tools for quality and continuous service improvement.

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OBJECTIVES Primary Objective: A Study on Customer Preference on Depository Account on ICICI in Chennai city....
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