MBA Customer Satisfaction in Forex Project

Topics: Foreign exchange market, Exchange rate, Central bank Pages: 53 (9772 words) Published: January 23, 2013
In this era of globalization, people/company are opareating many countries. But the value of currency of one country differes from another. So the people face various problems to transact from own local currency in the international market. So a service marketer wanted to make it convenient when the transaction is done between different value of currency.

This study has been undertaken to analyze whether the customer who deals with Thirumaal Finance Limited (TFL) for Foreign Exchange services in Chennai City are satisfied with the services provided by TFL or not. In todays market there are many Foreign Exchange service providers, but every customer has some preference to choose a particular Foreign Exchange service provider, and the customer who has used TFL service atleast once, will only use the TFL services again when he is satisfied with the services provided by TFL; because if performance falls short of expecations the customer is dissappointed and if it meets the expectations the customer is satisfied. A satisfied customer is a repeat buyer and if the customer is satisfied they also says good things about the product or services to the others.

1.1 Need and significance of the Study:

A Foreign Exchange Market exist wherever one currency is traded for another. Thirumaal Finance Limited is Reserve Bank of India Authorized dealer of Foreign Exchange. Thirumaal’s RBI license no:[CHE.FE.AM.441/2012] permits undertaking both retail and wholesale Foreign Exchange.

Since TFL is a big player in Foreign Exchange services, which have lots of respondents and these Respondents play a vital role in the increase of sales and in getting profits to the company. As competition in Foreign Exchange Market is growing up day by day, every company needs to concentrate on each and every aspect of its activities. Respondents should be satisfied with the Foreign Exchange rates, service quality, place where it is located, etc. So every company needs to know the satisfaction level of its respondents; and try to reach expectations of the respondents.

Significance of the Study:

Only respondents can determine the fate of the company; that means only respondents determine which organizations will survive and which one will fail. After knowing the customer satisfaction level; the company can know with which services the respondents are most satisfied and which services need improvement

Thirumaal Finance Limited provides Foreign Exchange services for the retail as well as whole sale respondents. Since Thirumaal Finance Limited is Reserve Bank of India Authorized dealer of Foreign Exchange and it is a big player in this field so in order to improve the quality of services this study has been undertaken.

1.2 Objectives of the Study:

* To study the structure and functions of the organization.

* To understand the Foreign Exchange transaction in Thirumaal Finance Limited.

* To know the customer opinion towards Foreign Exchange services provided by Thirumaal Finance Limited.

* To identify the level of customer satisfaction in Foreign Exchange services provided by Thirumaal Finance Limited.

1.3 Scope of the Study:

In this era it is very attractive to know about the customer satisfaction about a particular product or services in order to improve the quality of product or services. So that business can sustain in the market. With their money, consumers select the retailers, and if they are not satisfied by the service of one company they will surely go and avail the same service provided by the other company where they are satisfied. So ultimately, Consumers determine which companies will survive in the market, and which will go out of business.

Hence this study, which is done with the help of the respondents of TFL, Chennai.


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