market research on banking industry

8/2/2019 Market Research on Banking Industry

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MARKET RESEARCH ON BANKINGINDUSTRY

ENTREPRENEURSHIP

PRESENTED

BY

RAHMAN RAZIK SHAIK 14(IIPM)

INTERNATIONAL INSTITUTE OF PLANNING AND MANAGEMENT

IIPM TOWERS, 145 MARSHALLS ROAD, EGMORE

CHENNAI 600008.


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RESEARCH METHODOLOGY

PROBLEM DEFINITION:To determine (or) to find out the customer views, preference and

innovative ideas in banking sector.

RESEARCH DESIGN:

-EXPLORATORY RESEARCH

SAMPLE SIZE:

-30

SAMPLING METHOD:- QUESTIONNAIRE

SCALING TECHNIQUE:

- RANK ORDER

INFORMATION COLLECTED:

Information collected from the primary data i.e. response tothe questionnaire.


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FINDINGS

OLD METHODS NEW OFFERINGS CUSTOMER EXPECTS

ONE ON ONE INTERACTION DEBIT CARD SUNDAY BANKING

VARIOUS ACCOUNTS LIKE: CREDIT CARD 8 TO 8 WORK TIME

SAVINGS ACCOUNT INTERNET BANKING HOME DELIVERY

CURRENT ACCOUNT PHONE BANKING INDIVIDUAL CUSTOMER IMPORTANCEFIXED DEPOSITS,

ETC. DEMAT ACCOUNT E-MAIL BANKING

LOANS FOREX MANAGEMENTNO CHARGES FOR DD-ONLY FOR ACCOUNTHOLDERS

PAYING CHEQUES INSURANCE NO CHARGE FOR CHEQUE LEAF

COLLECTING CHEQUES MUTUAL FUNDS LOANS WITHOUT MUCH SECURITIES

TRANSACTION IN PAPERS MOBILE RECHARGE REDUCE LONG Q'S

NO TECHNOLOGY ATVANCE TAX PAYMENT FAMILY ACCOUNT

ATMBLUE PRINT CARD PLATFORM ( DONE INAMERICA)

BANK OVERDRAFTQUICK MONEY TRANSFER TO ANYWHERE INTHE WORLD

LOANS AND ADVANCES FORWARD CREDIT CARD

CERTIFICATE OF DEPOSITS TRADE IN GLOBAL MARKETS

COMMERCIAL PAPERS SAFETY MEASURES

CASH MANAGEMNT FRIENDSHIP ACCOUNT

INVESTMENT ADVISORY CHEQUES SHOULD BE CLEARED IN MINUT


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TAX ADVISORYINTEREST RATED SHOULD BE REDUCED FORLOANS

VEHICLE LOANS NO PAPERS EVERYTHING ONLINE

HOME LOANS

TRADE SERVICES

FACTORING SERVICESINTERNATIONAL MONEYTRANSFER

NRI BANKING

FOREIGN CURRENCY LOANS

HELPS IN EXPORT

HELPS IN INPORT

REMITTENCE

BANK GUARENTEE

BILLS DISCOUNTING

LETTER OF CREDIT

RUPEE FINANCE

EXTERNAL COMMERCIALBORROWINGS


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OTHER FINDINGS

- Most of the respondents changed their bank account because

of non having minimum balance for the required period of time

- 50% of the people have changed the account for couple of

times because of job shifting, service unlike ability etc.

- 40% of the respondent thinks that they does not prefer for the

mobile number portability.

- 60% needs mobile number portability because these

respondents have multiple accounts in multiple banks

- Nearly 30% of the people needs home delivery of financial

activities and 40% of the people wants each and every activity

in online

- Almost all the respondents expect personal attraction i.e. one

on one interaction and personal importance is required

- Everyone expects that banks should reduce their charges foe

cheque, demand draft etc


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- Respondents main motive to use the banks is to save the

money and to get loans when ever needed so the respondents

expect less security for these activities.

- Respondents expect personal attention and friendly

atmosphere in the banks.

DIAGRAMMATIC REPRESENTATIONS OF RESULTS:

ACCOUNT NUMBER PORTABILITY:

YES40%

NO60%

ACCOUNT NUMBER PORTABILITY


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CUSTOMER PREFERENCE ON BANKING PRODUCTS (out of

30):

How many accounts that the customers have?

0

2

4

6

8

10

12

free homedelivery

Ads aboutnew productsor services atbanking place

E-mails aboutnew products

Onlinetransactions

Display of various

services andproducts

mailers onnew festivaloffers by E-

mail / Couriers/ post

0%

10%

20%

30%

40%

50%

60%

1 2 3 more than 3


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CONCLUSION:

This research clearly shows the needs of the customer in

modern day banking and it also shows the ways to improve the customer

satisfaction in banking. This research clearly specifies that customer

expects quick response and customers are no longer ready to waste their

time for standing in qs. Results from this research shows that the bank

which reduces the waiting time of the customers and gives the better

service and satisfaction will succeed and provide better results to the

society.

"There's a way to do it better find it."

THANK YOU


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QUESTIONNAIRE

Market research on banking industry(Please use the highlighter to mark the correct answers or change it to red color )

Name:

Phone:

Location:

Bank name:

1. Do you prefer carrying cash and less dependent on bank transactions?

o Yes

o No

2. Since how long are you familiar in operating a bank account?

o 10 years

3. Number of times you have changed your bank?

o Ones

o Twice

o More than two times

o Never

4. Number of accounts youre active and currently operating?

o One


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o Two

o Three

o > Three

5. How many accounts you own but not operating / no more in use?

o One

o Two

o >three

o All accounts are active

6. When did you open your recent and very active account ?

o Month and year ________________________

7. I changed my last bank account because

o Reason __________________________________________________________________ __________________________________________________________________ __________________________________________________________________ __________________

8. Which would you first and major reason to change the bank please rank themaccordingly

Reasons

( ) Transfer of job

( ) Transfer of house

( ) Bank shifted their premises

( ) Company asked / company changed the bank where my salary was deposited

( ) Unfriendly atmosphere of bank employees

( ) Rejected my vehicle loan

( ) Rejected my transaction though I was just 5 min late to their closing time.


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( ) No personal attention or touch

( ) Too many cust omers / long Qs

( ) DD charges are high

( ) Interest rate on my fixed deposit is low compared to other banks

( ) Minimum deposit is to be maintained is very high

( ) They charge even for debit card transactions.

9. Which retailing technique we appreciate the most from banking services? (RANK THEM)

( ) free home delivery

( ) point of purchase advertisements / Ads about new products or services at bankingplace

( ) E-mails about new products / services / schemes

( ) Online transactions / Money transfers

( ) Display of various services and products

( ) mailers on new festival offers by E-mail / Couriers / post

10. Do you prefer Account number portability for bank accounts also? (Same as mobilenumber portability)

o Yes

o No

11. What product or service do you expect from a bank which is not available now?

i)

ii)

iii)


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12. What is your worst experience in a bank may be anything?

Your Answer:

13. What changes do you expect in existing services in the banking industry?

Your Answer:

14. Age :

o 23 to 27

o 28 to 32

o 33 to 37

o 38 to 42

o 43 to 47

o 48 to 52o 53 to 57

o 58 to


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o 1.50LAKHS To 1.75LAKHS

o 1.75LAKHS to 2LAKHS

o 2 LAKHS to 2.25 LAKHS

o 2.25 LAKHS to 2.5LAKHS

o > 2.5 LAKHS

16. Family income per month.

o < 25,000

o 25,000 to 50,000

o 50,000 to 75,000

o 75,000 to 1,00,000

o 1,00,000 to 1.25 LAKHS

o 1.25 LAKHS to 1.50 LAKHS

o 1.50LAKHS To 1.75LAKHS

o 1.75LAKHS to 2LAKHSo 2 LAKHS to 2.25 LAKHS

o 2.25 LAKHS to 2.5LAKHS

o More than 2.5 LAKHS

17. Education Qualification

Under Graduation:

Post Graduation:

Professional:

market research on banking industry

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