hitesh project old
TRANSCRIPT
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ARESEARCH REPORT
ON
CUSTOMER SATISFACTION CRITERIA FOR CREDIT CARDS
IN THE PARTIAL FULFILLMENT OF REQUIREMENT
FOR THE AWARD OFBACHELOR OF BUSINESS ADMINISTRATIONBACHELOR OF BUSINESS ADMINISTRATION
(BBA)ACADEMIC SESSION: 2009-2012
UNDER THE GUIDANCE OF: SUBMITT ED BY :
Mr. Pankaj Bhardwaj HITESH SAINIBranch Manager BBA-V SEM.HSBC BANK LTD., NEW DELHI ROLL NO.02024201709
CHANDERPRABHU JAINCOLLEGE
of higher studies
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ACKNOWLEDGEMENT
I extent my gratitude to Mr. Pankaj Bhardwaj, Branch Manager
Who has given an opportunity to undergo training in marketing
department of HSBC Bank as a Trainee.
I would like to convey my heartiest gratitude to Mr. Amit Gupta,
Team Leader, Credit Card Sales Division, HSBC Bank under whose
guidance this report could be prepared.
Finally, I would like to thank other countless people, who
had helped me directly or indirectly, as they have been generous
with their time, their support and encouragement.
Thank to all of you.
HITESH SAINI
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DECLARATION
This is to certify that This Report entitledThis is to certify that This Report entitled ““CUSTOMER SATISFACTION
CRITERIA FOR CREDIT CARDS ”” which is submitted by me in partialwhich is submitted by me in partial
fulfillment of the requirement for the award of degree B.B.A. to GGSIPfulfillment of the requirement for the award of degree B.B.A. to GGSIP
University, Kashmere Gate, Delhi comprises only my original work andUniversity, Kashmere Gate, Delhi comprises only my original work and
due acknowledgement has been made in the text to all other materialdue acknowledgement has been made in the text to all other material
used.used.
HITESH SAINI
B.B.A- Vth sem
02024201719
Date:
Place:
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CERTIFICATE OF ORIGINALITY
I _______________________________ Roll No. __________________
Class of 2009 a full time bonafide student of 3rd year of Bachelor of
Business Administration (BBA) Programme of Chandra Prabhu Jain College
of Higher Studies, Narela. I hereby certify that this project work carried out
by me at _______________________________ of title
_____________________________________________________________
_______submitted in partial fulfillment of the requirements of the
programme is an original work of mine under the guidance of the industry
mentor _____________________________________________
And faculty mentor __________________________________________
and is not based or reproduced from any existing work of any other person
or on any earlier work undertaken at any other time or for any other purpose,
and has not been submitted anywhere else at any time.
(Student’s Signature) (Lecturer’Signature)
Date: Date:
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TABLE OF CONTENTS
1. Executive summary
2. Introduction
2.1 Introduction to Project
2.2 Profile of HSBC
2.3 Features and Benefits
2.4 Customer Satisfaction
3. Research Methodology
4. Data Analysis
5. Findings
6. Limitations
7. Conclusion
8. Recommendations
9. Appendix
10. Bibliography
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EXECUTIVE SUMMARYEXECUTIVE SUMMARY
This Project Report has been prepared towards the partialfulfillment of Bachelor of Business Administration.
The present day managers of business concern function in a
dynamic environment. In a world in which change is a suite & not
an exception nothing is certain markets can’t relax once they
have launched their product or service in market.
In a dynamic world a business concern has the drive through a
thick fog of in certifications & risk & a worng move may prove
disastrous. It is here that a business managers beeds to thick
what a customers thinks & exception from his product & how can
customers exception can be translated into features & attributes
of the product so that customer feels delighted. This project tries
to drive into the minds of customers of credit cards & tries to
know what they actually expect from a credit card service.
This study is based on unskiasked respondents given by the so
kind respondents.
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INTRODUCTION TO THE PROJECTINTRODUCTION TO THE PROJECT
Customer increasing expect higher quality & service & some
customization. They perceive fewer real products differences and
show and less brands loyalty. They can obtain extensive credit card
information from the internet and other sources which permits them
to shop more intelligently. When the buyer of credit card is satisfied
after purchase depend of the performance of credit card in relation
of buyer’s expectations in general satisfaction is a person feeling of
pleasure or disappointment resulting from comparing a credit card
performance in relation to his expectations. If it performance falls
short of expectation, the customer is dissatisfied. If performance
matches the expectations the customer is satisfied. If the
performance exceeds expectations the customer is highly satisfied
or delighted.
The project which we have undertaken tries cover the main objective to
find out customer satisfaction criteria for credit card. It also tried to
cover following aspects. This will lead to certain implication for
credit cards companies as to how they can formulates their future
strategies in order to increase there sales. We have tried going in
details and studying the purchase of credit card from different
angles so, as to analyze the issue from 3600 . The research tries to
develop an understanding on the following aspects too. Which on
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the whole will help us in understanding the consumer behavior for a
credit card in a holistic view.
The general awareness level of credit cards.
What are the advantages and disadvantages of credit cards.
The consumer behavior in credit cards and decision making process.
What are the uses of credit card.
What are the things that a consumer needs to look for in a credit cardWhat are the things that a consumer needs to look for in a credit card
before deciding to purchase it. before deciding to purchase it.
What role does brand play.What role does brand play.
Other related issues.Other related issues.
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INTRODUCTION TO VISA AND MASTER INTRODUCTION TO VISA AND MASTER
VISA
The story of VISA is inseparable from one of the most significant
payment innovations of the twentieth century the payment card. By
developed this tool of unprecedented flexibility and popularizing its use
around the world. VISA shape the way that people everywhere live.
The VISA card has helped bring possibilities and independence tomillemium VISA era began in 1958, when the Bank of America first
issued its blue, white and gold BankAmericard to customers in
Califonia. Its bedrock concept of personal empowerment traces back
much earlier. A.P. Giannini, founder of the Bank of America at the
beginning of the century, belived that flexible personal credit could
help ordinary men and women take control of together. TheBankAmericard, a financial instrument established to drive positive
social change, continued this legenacy of compassionate, customer-
focused banking.
With BanlAmericard international popularity in the 1960s and 1970s
new corporate entity, jointly owned and a operated by license member
institutions, was created to support them. The name “Visa” was
introduced in 1976 and applied to the new organization. Soon Visa
credit cards were spreading around the world.
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Under the leadership of Dee Hock, Visa laid the groundwork for the
success of its member financial institutions for decades to come. Hock oversaw the creation of the first-ever electronic system for handling
credit transactions-an investment in transaction processing
infrastructure which would lead to rapid growth and expansion.
Throughout the 1980s and 1990s, Visa continued to make important
strides forward, introducing the first premium credit card, creating the
first global ATM network, developing new smart and prepaid cards andgaining market share around the world.
Today, Visa proudly lives up to its heritage by focusing on empowering
customers. Visa 21,000 member institutions have issued more than one
billion cards and to its values remain firmly anchored in service,
commitment and innovation. Visa is pioneering the creation of c-
commerce, or universal commerce-the ability to conduct commerce
anywhere, and way. In the real world and online, Visa is leading the
global market with exciting new put on larger and grader and
celebrations in an attempt to out-do each other.
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“commerce technologies and capabilities that add convenience and
each to its payment solutions”
Jointly owned by more than 21,000 financial institutional around
the global reach, Visa remains very much a local organization,
giving its regional offices a high degree of operating and
marketing autonomy, Because Visa’s regional organizations are
closest to their local markets, they know best how to helpmember institutions serve their customers. Empowering member
financial institutions-it’s the principle that underlines Visa’s
success.
Visa products and services-including credit, debit and prepaid,
corporate, purchasing and business products-are offered directlyby member financial institutionals to their customers. Visa
international focuses on providing members with a strong
competitive platform, including an advanced transactional
processing infrastructure and global branding and marketing. But
around a highly responsive and flexible regional structure, Visa
International also leads new initivates in product development,
global research and strategic alliances.
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MASTER
MasterCard International is a global payments company with one
of the most recognized and respected brands in the world. Wemanager a full range of payment programs and service, including
MasterCard® credit, MasterCards® debit cards, Maestro® online
debit cards, Cirrus® ATM cash access, and related programs.
With approximately 22,500 MasterCard, Cirrus and Maestro
members worldwide, MasterCard serves consumers andbusinesses, both large and small, in 210 countries and
territories. MasterCard is leader in quality and innovation,
offering a wide range of payment solutions in the virtual and
traditional worlds. MasterCard’s award-wining Priceless®
advertising campaign is now seen in 98 countries and 46
languages, giving the MasterCard brand a truly global reach and
scope. MasterCard is accepted at millions of locations around
the global.
MasterCard began in the 1940s when several U.S. banks started
giving their customers specially-issued paper that could be used
like cash in local stores. In 1951, The Franklin National Bank in
New York formalized the practice by introducing the first real
credit card.
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Over the next decade, several franchises evolved where a single
bank in each major city would accept cards as payment with
certain merchants theyd chosen to work with. ON August 16,196,one of the these groups formed the interbank card Association
(ICA), which later become MasterCArd International.
Unlike other similar organizations, ICA was not dominated by a
single bank Member committees were established to run the
association. They established rules for authorization, clearingand settlement. They also handled marketing, security and
global aspects of running the organization.
Once the organization was well underway, it was time to expand
globally. In 1968, ICA began what is now a huge global network
by forming an association with Banco Nacinal in Maxico. Later that year , they formed an alliance in Europe with Eurocard and
the first Japanese’s members joined .
Many countries followed behind the early international members
and by the late 1970s. ICA had members from as far as Africa
and Australia. To reflect the commitement to international
growth, ICA changed its name to MasterCard. In the 1980s,
there was future expansion into Asia and Latin America. In 1987,
MasterCard become the first payment card to be issued in the
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People’s Republic of China. In 1988, the first MasterCard was
issued in the Soviet Union.
Today, there are over 37 MasterCard offices around the world
with the global is accepted in more locations around the world
than MasterCard.
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DIFFERENT TYPES OF CARDS
CREDIT CARDS
CHARGE CARDS
ATM CARDS
DEBIT CARDS
CHEQUE- GUARENTY CARDS
STORE VALUE CARDS
SMART CARDS
CO-BRANDED CARDS
AFFINITY CARDS
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CREDIT CARDS
If you carry a balance, credit cards can be like expensive loans
made by banks, gasoline companies and department stores. The
credit card issuer gives you a card. You use the card to pay for
items and services up to certain total amount-your credit “limit”
The store merchant or services provider collects what you owe
from the card issuer, whom you replay. You’re allowed to pay off
what you owe little by little each month, as long as you pay a
minimum amount each time. You’re charged interest on the
balance you owe ( as high as 26% each year) at the end of each
period, unless you pay the full balance each time your bull
arrives.
Credit cards yield profits to their issuers for several reasons. The
most important is the high rate of interest-interest on credit cards
alone accounts for the bulk of the profit earned by banks that
issue credit card, and most companies charge late fees, over-
the-time fees and other miscellaneous charges. Finally, the
companies profit by charging merchants and service providers a
fee each time a customer uses the company’s credit in the
merchant’s establishment.
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CHARGE CARDS
Charge cards, also called travel and entertainment cards, are a
little different from credit cards. Charge cards, such as American
Express and Diners Club, have no credit limit. You can usually
charge as much as want, but you are required to pay off your
entire balance when your bill arrives, with one exception. It you
charge air fare, cruise fees or hotels fees for a hotel roombooked through a travel agent on an American Express card,
you pay off your balance over 36 months. You’ll be charged
between 19% and 21% interest and will have to make minimum
monthly payments of $20, or 1/36 of your balance, whichever is
greater.
Charge card companies make their profits by charging very high
annual fees- up to $100- and by charging merchants relatively
high fees each time a customer pays using the company’s
charge card.
If you don’t pay your charge card bill in full, you’ll get a one-
month grace period, when no interest is charged. After that,
you’ll be charged interest that averages about 18%. It you don’t
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pay after about months, three months, your account will be
closed and your bill sent to the collections departments.
CASH ADVANCES
Many people use their credit or charge cards to obtain cash
advances, Cash advances are generally more expensive than
standard credit card charges. Most banks charge a transaction
fee up to 4% for taking a cash advance. They also charged
interest from the date the cash advance is posted, even if youpay it back in full when your bill comes. Finally , the interest rate
is often higher or cash advances than it is on ordinary credit card
charges.
ATM CARDS
ATM cards are issued by banks essentially to give bankcustomers flexibility in their banking hours . in most areas, with
an ATM card you can withdraw money, make deposit, transfer,
money between accounts, find out your balance, get a cash
advance and even make payments at all hours of the day or
night.
DEBIT CARDS
Debit cards combine the functions of ATM cards and checks.
Debit card area issued by banks but are used at stores, not at
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the banks themselves. When you pay with a debit card, the
money is automatically deducted from your checking account.
Many banks issue a combined ATM/Debit card that looks justlike a credit card and can be used in places where credit cards
are accepted. But don’t be mistaken- they are not credit cards.
The money you spend comes out of your checking account
immediately.
Many people prefer debit cards over checks for tworeasons:
• You do not have to carry checkbook and present
identification, but are still able to make purchases directly
from your checking account.
• You pay your bills immediately, unlike when you use a
credit card and get the bill later.
But there are disadvantages to using debit cards. Many people
prefer having 20-25 days to pay their credit card bills. Also,
consumers using debit cards don’t have the right to withhold
payment in the event of a dispute with the merchant over the
goods or services paid for. In addition, many banks and
merchants charge transaction fees for using debit card. Finally, if
debit card number is stolen on the internet, the their may drain
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your bank account before the bank is able to complete its
investigation. For this reason, it’s better to use credit , rather than
debit, cards for online purchase.CHEQUE GURANTEE CARD
Used for identification purpose only.
Not linked with credit or debit types.
Allows the merchant to accept personal cheque payments
without fear of dishonor.
Some validation checks required e.g…, telephone authorizationetc.
STORE VALUE CARD
Electronically processed card that stores monetary value
Value can be stores on a chip or magnetic strip on the card.
Typically used by public utilities where a large number of smallvalue transactions can replace cash e.g…, MTNL Card, BEST
Card.
SMART CARD
Has an implanted computer chip incorporated in the card plastic
which gives it the power to perform many different functions like
having a PC in your wallet!
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Multiple applications on the same card e.g.. credit, debit,
electronic cash, driving licenses, secure identification hence you
need to carry less cards in your wallet.Chip can record data or value or both and can store up to 80
times more information than a magnetic chip.
Terminal on which the card is used has a chip reader in addition
to the magnetic stripe reader.
CO-BRANDED CARDBanks enter each into partnership with a non-bank to market
credit cards.
Both parties are into the alliance for financial gain as the non
bank partner is a profit-making company with a good customer
base.
The bank gains an additional customer base while the non-bankpartner can offer credit cards to its members.
A customized card for a specific retailer or service provider, such
as shoppers Stop that wishes to solicits customers. The issuer
looks after the card operations while the co-branded partner
shared marketing costs and responsibility
E.g. Citibank-Jet-Airways Card, HSBC-PNB card.
AFFINITY CARDS
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To grow a portfolio , the bank enters into partnership with a non-
bank to issue a card which may have a third party name on the
face of the cardIf the non-bank partner is a non-profit organization , the card is
known as an affinity card.
As credit card issued by a member in conjunction with an
organization or collective group (e.g. a professional organization
or special interest group) which is identified on the card. The
issuer often pays the organization a royality per card or per transaction charged.
e.g. Tollygunge Club card, Delhi Golf Club card.
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PROFILE OF HSBC
IntroductionIntroduction
HSBC has its Headquarters in
London. HSBC Holdings plc is one of the
largest banking and financial services
organizations in the world. HSBC’s
international network comprises over
9,500 offices in 80 countries and
territories in Europe, the Asia-Pacific
region, the Americas, the Middle East,
and Africa. With listings on the London, Hong Kong, New York
and Paris stock exchanges, around 190,000 shareholders in
some 100 countries and territories hold shares in HSBC
Holdings plc. The shares are traded on the New York Stock
Exchange in the form of American Depositary Receipts.
Through an international network linked by advanced
technology, including a rapidly growing e-commerce capability,
HSBC provides a comprehensive range of financial services:
personal financial services; commercial banking; corporate,
investment, banking, and markets; private banking; and other
activities.
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HSBC IN INDIAHSBC IN INDIA
HSBC's origin in India dates back to 1853,
when the Mercantile Bank of India was
established in Mumbai. The bank has since,
steadily grown in reach and service offerings,
keeping pace with the evolving banking and
financial needs of its customers.
The acquisition in 1959 by The Hongkong and
Shanghai Banking Corporation Limited of
the Mercantile Bank was a decisive factor in
laying the foundation for today's HSBC Group. Founded in 1865
to serve the needs of the merchants of the China coast and
finance the growing trade between China, Europe, and the
United States, HSBC has been an international bank from its
earliest days.
After the Mercantile Bank was acquired by The Hongkong and
Shanghai Banking Corporation, the Flora Fountain building
became and remains to this day, the Head Office of the HSBC
Group in India.
Through the 1990s, HSBC has vigorously developed its role as
one of the leading banking and financial services organizations
in the world. Its strategy of 'managing for value' emphasizes the
Group's unique balance of business and earnings between older,
mature economies and faster-growing emerging markets.
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HSBC in India is proud to have retained
the Group's pioneering streak by being an active
partner in the development of the Indian bankingindustry - even giving India its first ATM way
back in 1987. The organization’s adaptability,
resilience, and commitment to its customers
have further enabled it to survive through clients
as also to a fast growing personal banking
customer turbulent times and prosper through good times over the past 150 years.
In India, the Bank offers a comprehensive suite of world-
class products and services to its corporate and commercial
banking base.
HSBC Group entities in IndiaHSBC Group entities in India
1. The Hongkong and Shanghai Banking Corporation Limited
(HSBC)
2. HSBC Asset Management (India) Private Limited
3. HSBC Electronic Data Processing (India) Private Limited
4. HSBC Insurance Services (India) Private Limited
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5. HSBC Securities and Capital Markets (India) Private
Limited
6. HSBC Primary Dealership (India) Private Limited
7. HSBC Private Equity Management (Mauritius) Limited
8. HSBC Software Development (India) Private Limited
Products /services offered by HSBCProducts /services offered by HSBC
1. Credit Card
a. HSBC Gold Card
b. HSBC Classic Card
2. Loans
a. Home Loans
b. Personal Loansc. Educational Loans
d. Professional Loans
3. Account
a. Savings Account
b. Fixed Account
c. Demat Accountd. Smart Money Account
e. Current Account
i. Business Select
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ii. Business Vantage
iii. Business Account
4. Insurancea. Personal Insurance
i. Life Insurance
ii. Home Insurance
iii. Hospital Cash Insurance
iv. Car Insurance
v. Personal Account Insuranceb. Business Insurance
5. Wealth Management
a. HSBC Premier
b. Power Vantage
c. Financial Planning Service
d. Business Selecte. Mutual Fund
6. NRI Services
a. Non Residents
b. Returning Non Residents
7. Corporate and Institutional Banking
a. Corporate Banking
b. Treasury and Capital Market
c. Institutional Banking
d. Equities, Corporate Finance And Advisory
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e. Payment and Cash Management
i. Payment
ii. Collectionsiii. Account Management
iv. Electronic Banking Hexagon
f. Trade And Factoring Services
i. Trade Services
ii. Factoring Services
iii. Precious Metalsiv. Custody And Clearing
Technology UsedTechnology Used
HSBC's global network is linked by advanced technology,
including a rapidly growing e-commerce capability.
Contribution to SocietyContribution to Society
HSBC employees lend a helping hand in India
The helping hand staff volunteer programme was launched
in Mumbai in 2001 and has since then has extended to
Ahmedabad, Bangalore, Hydrabad and Pune, putting volunteers
in touch with NGO's and charities that need a helping hand.
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FEATURES AND BENEFITS
1. Wide acceptability
The card will be accepted at over 18 million establishment
across the world in addition to 1,00,000 establishment in
India.
2. Standard Fees
The annual fees for Gold and Classic Cards are given
below :
Gold Card Classic Card
Jointly Fees 500 300
Annual Fee 2000 700
Add-on 1000 350
3. Rewards
Cardholders will get rewarded just for using their HSBC
Globally valid card for every Rs. 100 charged to the card
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holders receive 1 reward point. These paoints can be
accumulated for the year and then redeemed against card
renewal fees, gits vouchers and card upgrade fees. Aminimum of 250 points has to be accumulated in order to
start redeeming.
4. Global ATM Services
Cardholders have access to cash, round the clock, at over
6,00,000 ATMs Worldwide, which include
VISA/MasterCard/Cirrus and all HSBC ATM’s Classic
cardholders can withdraw up to Rs. 25,000 per day and
Gold Card holders can withdraw up to Rs. 50,000 per day
within the overall specified limit.
5. Finance Charges
You can get up to 48 days free credit without any finance
charge being levied to your credit card account provided
your credit card outstanding shows in your statement is
settled in full on the due date. Finance charges will be
applicable, if only part payment is made, at 2.95% on a
average daily balance basis from the date of statement.
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6. Travel Privileges
Cardholders can get a discount of 30% on basis domestic
airfares and 5% on basis international airfares when they
purchase their air tickets through credit card from
International Travel House (ITH). In addition ITH will deliver the tickets free of charge within city limits.
7. Insurance Benefits
Our package of insurance benefits for gold cardholders is
amongst the best in the industry.
• Accident Insurance: Cardholders are entitled to free
insurance cover of Rs. 15,00,000 for a Classic card in the
event of loss of lives due to an air accident. For loss of life
due to other accidents the cover is Rs. 4,00,000 and Rs.
1,50,000 for Gold and Classic cards respectively.
• Purchase Protection: All items bought using the card are
insured against damage or loss due to fire or theft for a
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180-day period up to a value of Rs. 50,000 for a Gold Card
and Rs. 30,000 in case of a Classic Card.
•
Zero Lost Card Liability :In case a cardholder losesher/his card her/his will not be liable for any charges
incurred on the card after the loss has been reported to the
bank in writing.
• Credit Shield : In the event of Accidental death, payment of
outstanding on the card is waived up to Rs. 40,000 for Gold
cardholders and Rs. 20,000 for Classic cardholders.• Lost Baggage Insurance: Cardholders are covered for
loss/theft of checked baggage during domestic and
international flights for up to US$1,200 for Gold cardholders
and up to Rs. US$600 for Classic cardholders. This cover
is applicable after 48 hours of arrival at your destination.
Enhanced Travel Insurance Benefits for GOLD CARD
holders :-
• Delay in checked baggage : Gold cardholders are
covered for US$ 300 in the even of checked baggage being
delayed for more than 6 hours during domestic or
international flights from the scheduled arrival time at the
destination
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• Hijack Protection : IN the event of your flight getting
hijacked, Gold Cardholders can claim US$250 per hours
every that the flights is hijacked. This cover is applicablepost 12 hours of hijacked up to a maximum of 36 hours
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8. Global Calling Card
Cardholders will get a free calling card from Global One.
Which enables them to make long distance calls while
traveling overseas at every competitive rates. These calls are
billed to the cardholder’s credit account and are payable in
Indian rupees.
9. Zero Petrol Surcharge
Cardholders are entitled to a reimbursement of petrol
surcharge that is normally levied on credit card fuelpurchases for amounts between Rs. 400 to Rs. 2500 incurred
at any petrol pump at any city in India.
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Features Advantages Benefits
Worldwideaccepted
• Accepted at alloutlets worldwide(18 Millionestablishments)
•
No need to carrycash whileshopping in Indiaor abroad.
• Convenience
• Low Risk
Free CreditPeriod
• Pay only 5% of the amount rollover the credit
• Make onlyminimumpayments & canavail the creditfacility.
• Flexibility of payment
Global ATMServices
• Withdraw cash on
CC (40% of thetotal Cr. Limit sub.To availability).
• Up to Rs. 50,000/-per day
• Easy access to
funds.
• Easy liquidity.
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• No need to havebank a/c & can
still withdrawcash in case of emergency.
Access to your bank a/c withyour credit card(ATMC)
• At ATMs in India,you can requeststatements,cheque books,
perform bankingoperations.
• No need to have 2different cards & 2different pins.
Bonus RewardsProgramme
• For every Rs, 10/-
purchase you get1 reward pointwhich has valueof Re. 1/-.
• After accumulating 250bonus points, thesame can be
redeemed againstcard renewal feesand quality items.
• Saves money
Insurance * in the event of lossbaggage or theft,
• Safety
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Privileges
a. Lost baggage
insurance covered upto US$ 1200
• Free Insurance
b. AccidentInsurance
• In case of deathdue to aitaccident,insurance cover up to 20 lacs & incase of death dueto other accident,insurance cover upto 2 lacs
• There is waiver of payment of o/s onthe card up to Rs.40k
• Protection
• Safety
• Free Insurance
C. PurchaseProtection
• If the itemspurchased duringCC, is danaged or lost due to theft or fire, insurancecover available upto value of Rs.50k.
• Claim can bemade within 180days period fromdate of purchase.
• Safety
• Minimum loss
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D. Zero Lost Card
Liability
• In case of cardloss & reporting
the sameimmediately to thebank will preventany misuse of card
• Protectionagainst misuse
• Security
E. Travel
Insurance:
• Delay incheckedbaggage
• GCH are coveredup to US$300 for
emergencypurchase of replacementitems.
• Convenient
•
Saves Money
• Loss of passport &traveldocuments
• C/h reimbursedup to US$ 500 for expensesincurred inbtaining alternatedocuments incase of loss of original
documents
• Saves Money
• Convenient
Travel Privileges • Airline tickets can • Saves Money
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be booked usingCC at Spl.
Dscount of 3.5%on basic domesticair fares & 6.5%on basic intal, air fares.
• The rickets will bedelivered to door step without any
extra charges.
• Convenience
GLOBAL ONE
Calling card
• Free of charge
• Amount billed onCC which reflectsin monthlystatement
• Amount billed inINR which saveson foreignexchange.
• Can make longdistance cals fromany telephone
booth whiletravelingoverseas.
• Calls can be madeeven without
• Easy access totelephones.
• Convenience
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cash.
ADD-ON-CARDS • Primary cardholder can applyfor up to 3 add-on-cards (onlyblood relations)
• No joining fees
• No documentationrequired
• Add-on cards alsoenjoy the samebenefits asprimary card
• Saves Time
• Saves Hassles
CARD RENTALSERVICES
• GCH can avail spl.Car rentalservices &exclusivediscounts @ 20%on basic rates,extra hours &Extra kms. ( Autoriders Rent-a-car)
• Convenient
• Saves Time
DRAFT ON CALL • Normal billpayments can bemade using thisfacility
• Convenient
• Saves time
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• Drafts can beordered against
CC over thephone & the samewill be deliveredto the doorstep.
EMERGENCYASSISTANCESERVICES
• GCH receiveglobal assistance24 hours a day &
7 days a week.
• Assistance isavailable bypacing collect callto respectivecenters.
• The assistance
services alsoinclude legal,medical, travel &other services.
• Globalassistance
•
Toll freenumbers
• Confidence
• Quick service.
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CONSUMER SATISFACTION
Today’s companies are facing their toughest competitors ever.
Therefore companies need to more rapidly into new economy and
employ internet, wireless and other technologies to achieve a
competitor advantage.
Here is big question that how companies can go about wailing
customers and out performing competitors. The answer lies in
doing a better job of meeting or exceeding customer expectations
be coz this is costumer centered era.
“John chambers , CEO of Cisco systems put it will “Make your
customer the center of your culture” companies are adept at
building customers, not just product, they are skilled in market
engineering, not just product engineering.
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TOTAL CUSTOMER SATISFACTION
Whether the buyer is satisfied after purchase depends on the offer’s
performance in relation to the buyer expectations. In general,
satisfaction is a person’s feelings of pleasure or disappointment
resulting from comparing a product’s perceived performance (or
out come) in relation to his or her expectations. If the performance
falls short of expectations the customer is dissatisfied. If the
performance matches the expectations, the customer is satisfied. It
the performance exceeds expectations the customer highly,
satisfied or delighted.
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MEASURING SATISFACTION
Although the customer centered firm seeks to create high customer
satisfaction, that is not main goal. If the company increases
customer satisfaction by lowering its price or increasing its
services, the result may be lower profits.
The company might be able to increase its profitability by means
other than increased satisfaction for example by improving
manufacturing process or investing more in R&D) ultimately, the
company must operate on the philosophy that it is trying to deliver
a high level of customer satisfaction subject to adverting
acceptable levels of satisfaction to the other stake holder given its
total resources.
When customers rate their satisfaction with an element of the
company’s performance say, delivery the company need to
recognize that customers vary in how they define good delivery. It
could mean early delivery, on time delivery, order completeness
and so on. Yet if the company had to spell out every element in
detail, customer would face a huge survey questionnaire. The
company must also realize that two customers can report being
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“highly satisfied” for different reasons one may be early satisfied
most of the time and the other might be hard to please but was
pleased on this accession.
Cleans formal has developed the American customer satisfaction
index (ACSI) to measure the perceived satisfaction consumers feel
with different firms, industries, economic sector and national
economics.
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RESEARCH METHODOLOGY
1. Nature of research –Descriptive
2. Research approach- Sample survey
3. SAMPLE SIZE – 100 No.
4. Method of research –Questionnaire
5. Research Instrument-Random Sampling
6. Findings
7. Suggestions
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RESEARCH METHODOLOGY
Research methodology is a way to systematically solve the
research problem. It my be understood as a science of studying
how research is done systematically & scientifically. In it we study
the various steps that are generally adopted by a researcher in
studying his research problem along with the logic behind them.
Researcher also need to understand the assumptions underlying
various techniques they need to know the criteria by which they
can decide that certain techniques & procedures will be applicable
to the certain problems and other will not.
The scope of research methodology is wider than that of research
method. Thus when we talk of research methodology we will not
only talk of the research method but also consider the logic behind
the methods we use in the context of our research study and
explain why we are using a particular method or techniques and
why we are not using others so that the research result are capable
of being either by researcher himself or others. Why a research
study undertaken, how the research problem has been undertaken,
how the research problem has been define, in what way and why
the hypothesis has been formulated. What data have been collected
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and what particular method has been adopted why particular
techniques of data collections has been used and a host of similar
other questions are usually answered when we talk of research
methodology concerning a research problem or study.
In research methodology, research process, research design,
sampling design method of data collection are used in this project.
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RESEARCH PROCESS
Research process consist of action or steps necessary for effective carry out research and the desired of this steps-
1. Formulating the Research problem- The best way of
understanding the problem is to discuss it with ones own
colleagues or with those having some expertise in the matter.
2. Extensive Literature Survey- After formulating the
problem a brief summery of its should be written down. At
this function research should undertake extensive literature
survey concerned with the problem.
3. Development of working hypothesis- After extensive
literature survey, researcher should state in clear terms the
working hypothesis.
4. Preparing the research design- The research problem has
bee formulated in clear cut terms. The researcher will be
required to prepare a research design.
Basically there are three types of research design.
- Exploratory research design.
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- Descriptive research design.
- Hypothesis testing design.
5. Determining the sample designs- All the items under
consideration in any field of inquiry constitute a universe or
population. There are two types of sampling method are used
to design sample.
- Random sampling
- Non random sampling
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RESEARCH DESIGN
A research design is the arrangement of conditions for collection
and analysis in a manner that aims to combine relevance to
research purpose in economy in procedure.
In this research project descriptive research design are
designed. Because descriptive research studies are those
studies which are concerned which describing the characteristics
of particular individual or a group.
And it is used as-
- Formulating the objective of the studies.
- Designing the methods of data collective
- Selecting the sample
- Collecting the data
- Processing and analyzing the data
- Reporting the finding
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SAMPLE DESIGN
To prepare sampling design we should follow these points.
1. Type of universe
2. Sampling unit
3. Source list
4. Size of the sample
5. Parameters of interest6. Budgetary constraint
7. Sampling procedure
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METHOD OF SAMPLING DESIGNMETHOD OF SAMPLING DESIGN
Sampling designs are basically of two types:-
1. Random sampling
2. Non-Random sampling
Random Sample: Random Sampling method is any method of
sampling that utilize some type of random selection is the most
important type of sampling. A ransom sample allows a known probability to each unit when being selected. Such sampling is
very commonly used in lotteries and raffles. For ransom selection
the researcher has to assure that the different units in the
population have equal probability of getting selected. For this now
a days one uses computer for generating random number for
random sampling.
Non –Random Sapling : This type of sampling does not include
any basis for estimating the probability of including units of
population in the sample. The units of population are selected
deliberately assumed to adequately present the population.
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METHOD OF DATA COLLECTION
In this research project simple questionnaire method are used.
Questionnaire method is that method where a questionnaire is give
to the person which is concerned with the topic and request to fill
up this questionnaire.
A questionnaire consist of a number of questions printed in a
definite order on a form.
ADVANTAGE OF QUESTIONNAIRE METHOD
1. There is low cost when the universe is large and is widely
spread geo graphically.
2. It is free from the bias of interviewer.
3. Large sample can be made use of and thus the
4. Respondent has adequate time to give well thought answers.
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DATA ANALYSIS
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You think promise made by credit card company are fulfilled.
Strongly agree 4
Somewhat agree 8
Neither agree - nor disagree 33
Somewhat disagree 48
Strongly disagree 7
4
8
33
48
7
0
10
20
30
40
50
60
Strongly agree Somew hat agree Neither agree - nor
disagree
Somewhat disagree Strongly disagree
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You like to recommend your credit card to other
Strongly agree 14
Somewhat agree 16
Neither agree-nor disagree 20
Somewhat disagree 39
Strongly disagree 11
14
16
20
39
11
0
5
10
15
20
25
30
35
40
45
Strongly agree Somewhat agree Neither agree - nor
disagree
Somewhat disagree Strongly disagree
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You feel taking credit card was a good discussion
Strongly agree 13
Somewhat agree 26
Neither agree-Nor disagree 27
Somewhat disagree 24
Strongly disagree 10
13
2627
24
10
0
5
10
15
20
25
30
Strongly agree Somewhat agree Neither agree - nordisagree
Somewhat disagree Strongly disagree
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Which factors influenced you most to buy credit card
Price 11
Presentation of sales man 13
Free credit period 7
Teachers 6
Insurance cover 18
Cash withdrawal 11
Add on card 7
Reference group 20
Any other 7
11
13
76
18
11
7
20
7
0
2
4
6
8
10
12
14
16
18
20
Price Free credit
period
Insurance
cover
Add on card Any other
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From where did you come to know about your credit card
Salesman 36
TV 11
Newspaper 9
Bill board 8
Reference group 28
Any other 8
36
119
8
28
8
0
5
10
15
20
25
30
35
40
Salesman TV Newspaper Bill board Reference group Any other
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Would you like to switch over to another company’s credit card
Yes 47 No 53
Yes
47%
No
53%
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Do you feel services provided by credit card are according to your
expectations?
Yes 23 No 77
Yes
23%
No
77%
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Do you thick interest rate charged by credit card companies is reasonable?
Yes 6 No 94
Yes
6%
No
94%
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After taking credit card is there any increase in your expenditure?
Yes 73 No 27
Do you feel credit card industry is a sinking boat in Indian context
Yes 61 No 39
Yes
73%
No
27%
Yes
61%
No
39%
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FINDINGS
1. Most of the answer our indicate towards disagreement, it clearly
shows customers thick that premises made by credit card
comprises are not fulfilled; there why filled premises may be like
difficulty in claming insurance or free services.
2. Customers are unsatisfied with credit card services so they
spread negative word of much when they are asked that is why
50% of customers don’t want to recommend their credit cards
to others.
3. This answer is spread evenly oven somewhat agree, neither
agree nor disagree somewhat disagree. People who some what
agree because credit card is necessity for them as they have to
travel a lot & credit card provides them security & people who
somewhat diagram are because credit card didn’t meet their
expectation.
4. As we can see friends or the existing users of credit card
significantly influenced. The purchase of credit card which
indicate. That it is the most creditable source of informationinsurance policies are also major attraction for the customer &
presentation 7 the way in which salesman convince the
customers also plays important.
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LIMITATIONS
Despite the possible efforts in concluding the research, they were
some unavoidable situations, which limited the scope of the project.
• The study was restricted to Delhi, Noida & Ghaziabad.
• Time was the biggest constraint as all questionnaires were to
be filled in person to actual views, but all efforts were made to
get information relevant to the research.
• There may be some disepecies in views as some, people might
give false information in questionnaire, as they might not be in
filling the form.
• The sample size of 100 is small so there may be difference in
the reality and the findings.
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CONCLUSION
During our project we got an opportunity to study the credit card
industry of India. It is a relatively new business with intensecompetition & each firm trying to capture each others market
share. It was a great learning experience & we concluded
following points:
1. Credit card industry is still in a nascent phase in India with an
underdeveloped infrastructure.
2. Acceptability of credit cards is limited to large cities havingmalls, big retail stores
3. The penetration of credit cards is limited to large cities i.e.
credit card companies don’t have many customers in tier II &
tier III cities.
4. The companies are indulging in aggressive marketing; they
are not really concerned in satisfying the customer’s need.
5. There is no major product differentiation in the various credit
cards; all of them are providing similar services.
6. The companies are not trying to retain the customers; they
are more interested in broadening the customer base.
At last we conclude that CreditCard is at declining phase in
India.
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RECOMMENDATION
(1)Company should advertisement through various things
i.e advertisement through print media electronic media
and distribution network.
(2)As we have seen in the study persons are must affected
by price & quality factor. The company should
concentrate over the price factor of the program so that
new customer could be attracted to wards the program
although quality factor of the program is satisfactory.
(3)The company must conducted the satisfaction survey
time to time so that company could know the
satisfaction level of the consumer. It will be more
beneficial to company in making new strategies &
policies.
(4)Most of the person, which participated in the survey
have said that the program should be divided in to
small packages. So that any one could buy it easily.
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(5) The company price should be kept low in comparison
to competitors product price so that company can earn
more profit by selling large volume.
(6) The company’s awareness is low, the company should
be more concentrate to increase the awareness of the
company. The company can use many marketing total
to perform this work.
(7)The company should be conducted the demo of
program complaint, policies & suggestion. It can
improved it market share and consumer satisfaction.
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QUESTIONNAIRE
1. You think promise made by credit card company are fulfilled.
a. Strongly agree
b. Somewhat agree
c. Neither agree - nor disagree
d. Somewhat disagree
e. Strongly disagree
2. You like to recommend your credit card to other
a. Strongly agree
b. Somewhat agree
c. Neither agree-nor disagree
d. Somewhat disagree
e. Strongly disagree
3. You feel taking credit card was a good discussion
a. Strongly agree
b. Somewhat agree
c. Neither agree-Nor disagree
d. Somewhat disagree
e. Strongly disagree
4. Which factors influenced you most to buy credit card
a. Price
b.Presentation of sales man
c. Free credit period
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d. Teachers
e. Insurance cover
f. Cash withdrawal
g. Add on card
h. Reference group
i. Any other
5. From where did you come to know about your credit card
a. Salesman
b. TV
c. Newspaper
d. Bill board
e. Reference group
f. Any other
6. Would you like to switch over to another company’s credit card
Yes No
7. Do you feel services provided by credit card are according toyour expectations?
Yes No
8. Do you thick interest rate charged by credit card companies is
reasonable?
Yes No
9. After taking credit card is there any increase in your
expenditure?
Yes No
10. Do you feel credit card industry is a sinking boat in Indian
context
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Yes No
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BIBLIOGRAPHY
2. Book written by Philip Kotler on Marketing Management
3. A book on Marketing Research by Luck & Rubin
4. A book on Marketing of Service by Vallarie A. Zeithaml &
Mary Joe Bitner.
5. Training Material presided by HSBC.
6. www.indianinfoline.com
7. www.creditcardsbasic.com
8. www.mycreditcard.com