Professional Documents
Culture Documents
1.1 INTRODUCTION:
Customer satisfaction, a business term, is a measure of how products and services
supplied by a company meet or surpass customer expectation. It is seen as a key performance
indicator within business and is part of the four perspectives of a Balanced Scorecard.
In a competitive marketplace where businesses compete for customers, customer
satisfaction is seen as a key differentiator and increasingly has become a key element of business
strategy
Measuring customer satisfaction
Organizations are increasingly interested in retaining existing customers while targeting
non-customers, measuring customer satisfaction provides an indication of how successful the
organization is at providing products and/or services to the marketplace.
Customer satisfaction is an ambiguous and abstract concept and the actual manifestation
of the state of satisfaction will vary from person to person and product/service to product/service.
The state of satisfaction depends on a number of both psychological and physical variables
which correlate with satisfaction behaviors such as return and recommend rate. The level of
satisfaction can also vary depending on other options the customer may have and other products
against which the customer can compare the organization's products.
Because satisfaction is basically a psychological state, care should be taken in the effort
of quantitative measurement, although a large quantity of research in this area has recently been
developed. Work done by Berry, Brodeur between 1990 and 1998 defined ten 'Quality Values'
which influence satisfaction behavior, further expanded by Berry in 2002 and known as the ten
domains of satisfaction. These ten domains of satisfaction include: Quality, Value, Timeliness,
Efficiency, Ease of Access, Environment, Inter-departmental Teamwork, Front line Service
Behaviors, Commitment to the Customer and Innovation. These factors are emphasized for
continuous improvement and organizational change measurement and are most often utilized to
develop the architecture for satisfaction measurement as an integrated model. Work done by
Parasuraman, Zeithaml and Berry between 1985 and 1988 provides the basis for the
measurement of customer satisfaction with a service by using the gap between the customer's
expectation of performance and their perceived experience of performance. This provides the
measurer with a satisfaction "gap" which is objective and quantitative in nature. Work done by
Cronin and Taylor propose the "confirmation/disconfirmation" theory of combining the "gap"
described by Parasuraman, Zeithaml and Berry as two different measures (perception and
1
these data do not include internal services provided within a manufacturing company (such as
IBM or Boeing) or services that these manufacturers sell externally.
CUSTOMER EXPECTATIONS OF SERVICE
Customer expectations are beliefs about service delivery that function as standards of
reference points against which performance is judged. Because customers compare their
perceptions of performance with these reference points when evaluating service quality, thorough
knowledge about customer expectations is critical to services marketers. Knowing what the
customer expects is the first and possibly most critical step in delivering quality service. Being
wrong customers want can mean losing a customer's business when another company hits the
target exactly. Being wrong can also mean expending money, time, and other resources on things
that don't count to the customer. Being wrong can even mean not surviving in a fiercely
competitive market.
Among the aspects of expectations that need to be explored and understood for successful
services marketing are the following: What types of expectation standards do customers hold
about services? What factors most influence the formation of these expectations? what role do
these factors play in changing expectations? How can a service company meet or exceed
customer expectations?
FACTORS THAT INFLUENCE CUSTOMER EXPECTATIONS OF SERVICE
Because expectations play such a critical role in customer evaluation of services,
marketers need and want to understand the factors that shape them. Marketers would also
like to have control over these factors as well. But many of the forces that influence customer
expectations are uncontrollable. In this section of the chapter we try to separate the many
influences on customer expectations.
Sources of Desired Service Expectations
The two largest influences on desired service level are personal needs and philosophies
about service. Personal needs those states or conditions essential to the physical or psychological
well-being of the customer, are pivotal factors that shape what we desire in service. Personal
needs can fall into many categories, including physical, social, psychological, and functional. A
fan who regularly goes to baseball games right from work, and is therefore thirsty and hungry
hopes and desires that the food and drink vendors will pass by his section frequently, where as a
fan who regularly has dinner elsewhere has a low or zero level of desired service from the
vendors. A customer with high social and dependency needs may have relatively high
expectations for a hotel's ancillary services, hoping, for example, that the hotel has a bar with
live music and dancing. The effect of personal needs on desired service is illustrated by the
different expectations held by two business insurance customers:
3
Some customers are more demanding than others, having greater sensitivity to, and higher
expectations of, service. Enduring service intensifiers are individual, stable factors that lead the
customer to a heightened sensitivity to service. One of the most important of these factors can be
called derived service expectations, which occur when customer expectations are driven by
another person or group of people. A niece from a big family who is planning a 90th birthday
party for a favorite aunt is representing the entire family in selecting a restaurant for a successful
celebration. Her needs are driven in part by the derived expectations from the other family
members. A parent choosing a vacation for the family, a spouse selecting a home-cleaning
service.
What ls Customer Satisfaction?
Everyone knows what satisfaction is, until asked to give a definition' Then, it seems
nobody knows. This quote from Richard L. Oliver, respected expert and longtime writer and
researcher on the topic of customer satisfaction, expresses the challenge of defining this most
basic of customer concepts. Building from previous definitions' Oliver offers his own formal
definition:
Satisfaction is the consumer's fulfillment response. It is a judgment that a product or
service feature, or the product or service itself, provides a pleasurable level of consumptionrelated fulfillment.
In addition to a sense of fulfillment in the knowledge that one's needs have been met,
satisfaction can also be related to other types of feelings, depending on the particular context or
type of service. For example, satisfaction can be viewed as contentment-more. of a passive
response that consumers may associate with services they don't think a lot about or services that
they receive routinely over time' Satisfaction may also be associated with feelings of pleasure for
services that make the consumer feel good or are associated with a sense of happiness. For those
services that really surprise the consumer in a positive way, satisfaction may mean delight. And
in some situations, where the removal of a negative leads to satisfaction, the consumer may
associate a sense of relief with satisfaction.
It is also important to recognize that although we tend to measure consumer satisfaction
at a particular point in time as if it were static, satisfaction is a dynamic, moving target that may
evolve over time, influenced by a variety of factors. Particularly when product usage or the
service experience takes place over time, satisfaction maybe rightly variable depending on which
point in the usage or experience cycle one is focusing on. Similarly, in the case of very new
services or a service not previously experienced, customer expectations may be barely forming at
the point of initial purchase, these expectations will solidify as the process unfolds and the
consumer begins to form his or her perceptions. Through the service cycle the consumer may
have a variety of different experiences, some good, some not good-and each will ultimately
impact satisfaction.
4
CAPITAL MARKET:
Capital market is a place where we can raise long-term capital.
Again the capital market is classified in to two types and they are
1. Primary market
2. Secondary market.
CAPITAL MARKET
PRIMARY MARKET
SECONDARY MARKET
1. PRIMARY MARKET:
The primary market is that part of the capital markets that deals with the issuance of new
securities. Companies, governments or public sector institutions can obtain funding through the
sale of a new stock or bond issue. When an issue / offer of securities is made to new investors for
becoming part of shareholders family of the issuer it is called a public issue.
When an unlisted company makes either a fresh issue of securities or offers its existing
securities for sale or both for the first time to the Entity making an issue is referred as IPO.
When an already listed company makes either a fresh issue of securities to the public or
an offer for sale to the public, it is called a FPO.
2. SECONDARY MARKET
The primary market deals with the new issues of securities. Outstanding securities are
traded in the secondary market, which is commonly known as stock market or stock exchange.
The secondary market is a market where scrips are traded. It is a market place which
provides liquidity to the scrips issued in the primary market. Thus, the growth of secondary
market depends on the primary market. More the number of companies entering the primary
market, the greater are the volume of trade at the secondary market. Trading activities in the
secondary market are done through the recognized stock exchanges which are 23 in number
including Over The Counter Exchange of India (OTCE), National Stock Exchange of India and
Interconnected Stock Exchange of India.
Secondary market operations involve buying and selling of securities on the stock
exchange through its members. The companies hitting the primary market are mandatory to list
their shares on one or more stock exchanges in India. Listing of scrips provides liquidity and
offers an opportunity to the investors to buy or sell the scrips.
Secondary Market is the market where, unlike the primary market, an investor can buy a
security directly from another investor in lieu of the issuer. It is also referred as "after market".
The securities initially are issued in the primary market,andthen they enter into the secondary
market.
In other words Secondary market is a place where any type of used goods is available. In the
secondary market shares are maneuvered from one investor to other, that is, one investor buys an
asset from another investor instead of an issuing corporation. So, the secondary market should be
liquid.
IMPORTANCE OF SECONDARY MARKET:
Secondary Market has an important role to play behind the developments of an efficient
capital market. Secondary market connects investors' favoritism for liquidity with the capital
users' wish of using their capital for a longer period. For example, in a traditional partnership, a
partner cannot access the other partner's investment but only his or her investment in that
7
partnership, even on an emergency basis. Then if he or she may breaks the ownership of equity
into parts and sell his or her respective proportion to another investor. This kind of trading is
facilitated only by the secondary market.
un-purchased crops were left to rot in the streets. Conversely, when a given commodity such as
Soy beans were out of season, the goods made from it became very expensive because the crop
was no longer available, lack of supply.
In the mid-19th century, grain markets were established and a central marketplace was
created for farmers to bring their commodities and sell them either for immediate delivery (spot
trading) or for forward delivery. The latter contracts, forwards contracts, were the fore-runners to
today's futures contracts. In fact, this concept saved many farmers from the loss of crops and
helped stabilize supply and prices in the off-season.
Today's commodity market is a global marketplace not only for agricultural products, but
also currencies and financial instruments such as Treasury bonds and securities futures. It's a
diverse marketplace of farmers, exporters, importers, manufacturers and speculators. Modern
technology has transformed commodities into a global marketplace where a Kansas farmer can
match a bid from a buyer in Europe.
The modern commodity markets have their roots in the trading of agricultural products.
While wheat and corn, cattle and pigs, were widely traded using standard instruments in the 19th
century in the United States, other basic foodstuffs such as soybeans were only added quite
recently in most markets. For a commodity market to be established there must be very broad
consensus on the variations in the product that make it acceptable for one purpose or another.
The economic impact of the development of commodity markets is hard to overestimate.
Through the 19th century "the exchanges became effective spokesmen for, and innovators of,
improvements in transportation, warehousing, and financing, which paved the way to expanded
interstate and international trade.
EARLY HISTORY OF COMMODITY MARKETS:
Historically, dating from ancient Sumerian use of sheep or goats, other peoples using
pigs, rare seashells, or other items as commodity money, people have sought ways to standardize
and trade contracts in the delivery of such items, to render trade itself more smooth and
predictable.
9
Commodity money and commodity markets in a crude early form are believed to have
originated in Sumer where small baked clay tokens in the shape of sheep or goats were used in
trade. Sealed in clay vessels with a certain number of such tokens, with that number written on
the outside, they represented a promise to deliver that number. This made them a form of
commodity money - more than an I.O.U. but less than a guarantee by a nation-state or bank.
However, they were also known to contain promises of time and date of delivery - this made
them like a modern futures contract. Regardless of the details, it was only possible to verify the
number of tokens inside by shaking the vessel or by breaking it, at which point the number or
terms written on the outside became subject to doubt. Eventually the tokens disappeared, but the
contracts remained on flat tablets. This represented the first system of commodity accounting.
INDIA COMMODITY MARKETS:
In India commodity markets have been in existence for decades. However in 1975 the
Government banned forward contracts on commodities. Later in 2003 the Government of India
again allowed forward contracts in commodities. There have been over 20 exchanges existing
for commodities all over the country. However these exchanges are commodity specific and
have a strong regional focus. The Government, in order to make the commodities market more
transparent and efficient, accorded of national level multi commodity exchanges. Accordingly
three exchanges are there which deal, in a wide variety of commodities and which allow nationwide trading. They are approval for setting up of national level multi commodity exchanges.
Accordingly three exchanges are there which deal in a wide variety of commodities and which
allow nationwide trading. They are of national level multi commodity exchanges.
They are
Multi Commodity Exchange (MCX)
National Commodities Derivatives Exchange (NCDEX)
National Multi Commodity Exchange (NMCE)
The MCX is Mumbai based and is promoted by Financial Technologies Pvt Ltd. MCX
allows trading on a host of commodities ranging from bullion to grains. Please check the
Commodities traded menu. MCX has become the first exchange in the world to launch futures
on steel. NCDEX is promoted by an elite group of financial institutions including NSE, LIC,
SBI, etc., NCDEX also allows trading of futures on a host of commodities.
10
Livestock
Energy
Precious Metals
Other Metals
MCX offers futures trading in Agricultural Commodities, Bullion, Ferrous & Non-ferrous
metals, Pulses, Oils & Oilseeds, Energy, Plantations, Spices and other soft commodities. Multi
Commodity Exchange (MCX) is an independent commodity exchange based in India. It was
established in 2003 and is based in Mumbai.
MCX is a demutualised nationwide electronic multi commodity futures exchange set up
by Financial Technologies with permanent recognition from Government of India for facilitating
online trading, clearing & settlement operations for futures market across the country. The
exchange started operations in November 2003.
MCX offers futures trading in Agricultural Commodities, Bullion, Ferrous & Non-ferrous
metals, Pulses, Oils & Oilseeds, Energy, Plantations, Spices and other soft commodities.
MCX has also setup in joint venture the National Spot Exchange a purely agricultural
commodity exchange and National Bulk Handling Corporation (NBHC) which provides bulk
storage and handling of agricultural products.
MCX is India's No. 1 commodity exchange with 84% Market share in 2008.
KEY SHAREHOLDERS:
Promoted by FTIL, MCX enjoys the confidence of blue chips in the Indian and
international financial sectors. MCX's broad-based strategic equity partners include NYSE Euro
next, State Bank of India and its associates (SBI), National Bank for Agriculture and Rural
Development (NABARD), National Stock Exchange of India Ltd (NSE), SBI Life Insurance Co
Ltd, Bank of India (BOI) , Bank of Baroda (BOB), Union Bank of India, Corporation Bank,
Canara Bank, HDFC Bank, Fid Fund (Mauritius) Ltd. - an affiliate of Fidelity International,
ICICI Ventures, IL&FS, Kotak Group, Citi Group and Merrill Lynch.
VISION:
MCX envision a unified Indian commodity market that is driven by market forces and
continually provides a level playfield for all stakeholders ranging from the primary producer to
the end-consumer; corrects historical aberrations in the system; leverages technology to achieve
exceptional efficiencies and ultimately lead to a common world market. We also envision a brand
12
image for MCX that identifies it as the Exchange of Choice not only by direct participants in the
commodity ecosystem but also by the general public.
MISSION:
MCX shall accomplish the above vision by relentlessly endeavoring to enhance
awareness and understanding of exchange-enabled trade in commodity derivatives. The
Exchange will continue to minimize the adverse effects of price volatilities; providing
commodity ecosystem participants with neutral, secure and transparent trade mechanisms;
formulating quality parameters and trade regulations in conjunction with the regulatory authority.
Moreover, it will continue to enforce a zero-tolerance policy toward unethical trade practicesattempted or real-by any participant/s; and invest in the all-round development of the commodity
ecosystem.
NCDEX is a public limited company incorporated on April 23, 2003 under the Companies Act,
1956. It has commenced its operations on December 15, 2003.
National Commodity & Derivatives Exchange Limited (NCDEX) is a professionally
managed on-line multi-commodity exchange. NCDEX is the only commodity exchange in the
country promoted by national level institutions. NCDEX is regulated by Forward Markets
Commission.
NCDEX is located in Mumbai and offers facilities to its members about 550 centers
throughout India. The reach will gradually be expanded to more centers. NCDEX currently
facilitates trading of 57 commodities.
13
16
17
Commodity markets are markets where raw or primary products are exchanged. These
raw commodities are traded on regulated commodities exchanges, in which they are bought and
sold in standardized contracts. This article focuses on the history and current debates regarding
global commodity markets. It covers physical product (food, metals, and electricity) markets but
not the ways that services, including those of governments, nor investment, nor debt, can be seen
as a commodity. Articles on reinsurance markets, stock markets, bond markets and currency
markets cover those concerns separately and in more depth. One focus of this article is the
relationship between simple commodity money and the more complex instruments offered in the
commodity markets.
Before the North American futures market originated some 150 years ago, farmers would
grow their crops and then bring them to market in the hope of selling their commodity of
inventory. But without any indication of demand, supply often exceeded what was needed, and
un-purchased crops were left to rot in the streets. Conversely, when a given commodity such as
Soy beans were out of season, the goods made from it became very expensive because the crop
was no longer available, lack of supply.
18
Aluminum
Copper
Lead
Zinc Mini
Mild Steel Ingot, Billets
Nickel
Tin
Zinc
Lead Mini
ENERGY
1.
2.
3.
4.
5.
6.
7.
ATF
Crude Oil
Natural Gas
Gasoline
Heating Oil
Imported Thermal Coal
Electricity Monthly & Weekly
20
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CHAPTER-2
REVIEW OF LITERATURE
Customer satisfaction
The degree to which there is match between the customer's expectations of the product
and the actual performance of the product.
The broad definition of services implies that intangibility is a key determinant of whether
an offering is a service. While this is true, it is also true that very few products are purely
intangible or totally tangible. Instead, services tend to be more intangible than manufactured
products, and manufactured products tend to be more tangible than services. For example, the
fast-food industry while classified as a service, also has many tangible components such as the
food" the packaging, and so on. Automobiles, while classified within the manufacturing sector,
also supply many intangibles, such as transportation. Throughout this text, when we refer to
services we will be assuming the broad definition of services and acknowledging that there are
very few "pure services,, or "pure goods." The issues and approaches we discuss are directed
toward those offerings that lie on the right side, the intangible side, of the spectrum.
As suggested earlier, intangibles arc not produced only in the service sector of the
economy. Manufacturers such as Boeing Airplane Company and Ford Motor Company also
produce products on the right end of the spectrum, both for sale to external consumers and to
support internal production processes. For example, Boeing has provided consulting services and
demand forecasting services for its airline customers. And within Boeing large departments (such
as data processing and legal services) provide
early as 1929,55 percent of the working population was employed in the service sector in the
united States, and approximxely 54 percent of the gross national product was generated by
services in 1948. That the trend toward services has continued, until in 1999 services represented
78 percent of the gross domestic product (GDP) and 80 percent of employment. Note also that
these data do not include internal services provided within a manufacturing company (such as
IBM or Boeing) or services that these manufacturers sell externally.
fan who regularly has dinner elsewhere has a low or zero level of desired service from the
vendors. A customer with high social and dependency needs may have relatively high
expectations for a hotel's ancillary services, hoping, for example, that the hotel has a bar with
live music and dancing. The effect of personal needs on desired service is illustrated by the
different expectations held by two business insurance customer.
What Is Customer Satisfaction?
Everyone knows what satisfaction is, until asked to give a definition' Then, it seems
nobody knows. This quote from Richard L. Oliver, respected expert and longtime writer and
researcher on the topic of customer satisfaction, expresses the challenge of defining this most
basic of customer concepts. Building from previous definitions' Oliver offers his own formal
definition:
Satisfaction is the consumer's fulfillment response. It is a judgment that a product or
service feature, or the product or service itself, provides a pleasurable level of consumptionrelated fulfillment.
In less technical terms, we translate this definition to mean that satisfactorily is the
customers' evaluation of a product or service in terms of whether that product or service has met
their needs and expectations. Failure to meet needs and expectations is assumed to result in
dissatisfaction with the product or service
In addition to a sense of fulfillment in the knowledge that one's needs have been met,
satisfaction can also be related to other types of feelings, depending on the particular context or
type of service. For example, satisfaction can be viewed as contentment-more. of a passive
response that consumers may associate with services they don't think a lot about or services that
they receive routinely over time' Satisfaction may also be associated with feelings of pleasure for
services that make the consumer feel good or are associated with a sense of happiness. For those
services that really surprise the consumer in a positive way, satisfaction may mean delight. And
in some situations, where the removal of a negative leads to satisfaction, the consumer may
associate a sense of relief with satisfaction.
It is also important to recognize that although we tend to measure consumer satisfaction
at a particular point in time as if it were static, satisfaction is a dynamic, moving target that may
evolve over time, influenced by a variety of factors. Particularly when product usage or the
service experience takes place over time, satisfaction maybe rightly variable depending on which
point in the usage or experience cycle one is focusing on. Similarly, in the case of very new
services or a service not previously experienced, customer expectations may be barely forming at
the point of initial purchase, these expectations will solidify as the process unfolds and the
consumer begins to form his or her perceptions. Through the service cycle the consumer may
have a variety of different experiences, some good, some not good-and each will ultimately
impact satisfaction.
27
28
software itself, but also by what others say about it in the company, how others use it and feel
about it, and how widely it is adopted in the organization.
National Customer Satisfaction Indexes
Because of the importance of customer satisfaction to firms and overall quality of life,
many countries how have a national index that measures and tracks customer satisfaction at a
macro level.23 Many public policymakers believe that these measures could and should be used
as tools for evaluating the health of the nation's economy, along with traditional measures of
productivity and price. Customer satisfaction indexes begin to get at the quality of economic
output, whereas more traditional economic indicators tend to focus only on quantity. The first
such measure was the Swedish Customer Satisfaction Barometer introduced in 1989. Through
out the 1990s similar indexes were introduced in Germany (Deutsche Kundenbarometer, or DK,
in 1992), the United States (American Customer Satisfaction Index, ACSI, in 1994), and
Switzerland (Swiss Index of Customer Satisfaction, SWICS, in 1998).
The American Customer Satisfaction index (ACS...)
The ACSI, developed by researchers at the National Quality Research Center at the
University of Michigan, is a measure of quality of goods and services as experienced by
consumers. The measure tracks customer perceptions across 200 firms representing all major
economic sectors, including government agencies. Within each industry group, major industry
segments are included" and within each industry the largest companies in that industry are
selected to participate. For each company approximately 250 interviews are conducted with
current customers. Each company receives an ACSI score computed from its customers'
perceptions of quality, value, satisfaction, expectations, complaints, and future loyalty.
MARKETING:
Marketing is a social process by which individuals and groups obtain what they need and
want through creating, offering and freely exchanging product and services of value with
others.
MARKETING MANAGEMENT:
Marketing m management is the process of planning and executing the conception,
pricing, promotion of ideas, goods and services to create exchanges that satisfy
individuals and organization goals.
MARKETING MIX:
Marketing mix is the set of controllable tactical marketing tools that the firm blends to
produce the response it wants in the target market. Four factor classifications of these
tools are called the four Ps: product, price, place and promotion.
30
PRODUCT:
Product is the firms tangible offer to the market, which includes the product quality,
design, branding and packaging.
PRICE:
Price is the amount of money the customers have to pay to obtain the product
PLACE:
Place makes the product of the company available to target customers.
PROMOTION:
Promotion includes all the activities of the company undertake to communicate and
promote its product to the target market. It consists of advertising, sales promotion,
public relation etc.
BRAND:
Brand is the name, term, sign, symbol of design or a communication of there intended to
identify the goods and services of one seller or group of seller and to differentiate them
from those of competitors.
BRAND IMAGE:
It is nothing but the set of benefits to` consumers hold about a particular brand.
ADVERTISING:
Any paid from of non-personal presentation and promotion of ideas, goods or services by
an identified sponsor.
MARKET DEMAND:
Market demand for a product is the total volume that would be bought by a defined
customer group in a defined geographical area in a defined time period marketing
environment under a defined marketing program
MARKET POTENTIAL:
The market forecast shows expected demand, not maximum market demand. For the
latter, we have to visualize the level of market demand resulting from a very high level of
industry marketing expenditure, where further increases in marketing effort would be
31
little effect in stimulating further demand. Market potential is the limit approached by
market demand as industry marketing expenditures approach infinity for a given
marketing environment.
COMPANY DEMAND:
It is the companys estimated share of market demand at alternative levels of company
marketing effort in a time period. The companys share of market demand depends on
how its products, services, prices, communications, and so on are perceived relative to
the competitor
Companies face the problem of selecting the best territories and allocating their
marketing budget optimally among the best territories. Therefore, they need to estimate the
market potential of different cities, states and nations.
32
Besides estimating total potential and area potential, a company needs to know
the actual industry sales taking place in its market. This means identifying its competitors
and estimating their sales
CHAPTER-3
RESEARCH METHODOLOGY
33
34
To study the satisfaction level of customers with respect to service and investment
options provided by ADITYA TRADING SOLUTIONS PVTLTD.
To know the present and future expectations of customers of ADITYA TRADING
SOLUTIONS PVT LTD.
To suggest suitable measures to improve the customer satisfactions towards ADITYA
TRADING SOLUTIONS PVT LTD.
35
: Convenience sampling
Population size
Sample size
: 100
Sample area
: Tirupati
: Simple percentage.
QUESTIONNAIRE DESIGN
Questionnaire Design is prepared on the basis of the following parameters.
Customers satisfaction
Customer Awareness
STATUSTICAL TOOLS:
For data analysis statistical tool used are simple percentage.
36
Percentage =
37
CHAPTER-4
DATA ANALYSIS
4.1 EDUCATIONAL QUALIFICATION OF CUSTOMERS
TABLE:4.1
OPTION
EDUCATIONAL
QUALIFICATION
15
20
40
25
100
None
Inter
Graduate
Higher
Total
PERCENTAGE(%)
15
20
40
25
100
CHART:4.1
45
40
40
35
30
25
25
20
15
20
15
10
5
0
None
Inter
Graduate
Higher
EDUCATIONAL QUALIFICATION
INTERPRETATION:
38
From the above data it is inferred that out of 100 respondents,15%of respondents are
uneducated, 20% are intermediate,40% of respondents are graduates,25% of respondents are
higher graduates.
INCOME LEVELS
PERCENTAGE(%)
45
25
20
10
100
45
25
20
10
100
CHART:4.2
50
45
40
35
30
25
20
15
10
5
0
45
25
la
kh
s
M
or
e
la
kh
s
Be
tw
ee
n
to
4
Be
tw
ee
n
to
la
kh
s
la
kh
s
10
th
an
Le
ss
20
INCOME LEVELS
INTERPRETATION:
From the above data it is inferred that out of 100 respondents, 45% of respondents are
having income less than 2 lacks,25% of respondents are between 2 to 4 lacks,20% of respondents
are between 4 to 8 lacks,10% of respondents are having more than 8 lacks income per year.
39
EXPERIENCE INTRADING
PERCENTAGE(%)
45
20
25
10
100
45
20
25
10
100
CHART:4.3
50
45
40
35
30
25
20
15
10
5
0
45
25
20
ye
ar
M
or
e
th
an
10
ye
ar
s
5
to
10
5
to
1
Le
ss
th
an
ye
ar
s
ye
ar
10
EXPERIENCE IN TRADING
INTERPRETATION:
From the above data it is inferred that out of 100 respondents,45% of respondents
are trading from less than 1 year,20% of respondents had trading experience of 1 to 5 years,25%
40
AWARENESS ABOUT
ONLINE TRADING
75
25
100
Yes
No
total
PERCENTAGE(%)
75
25
100
CHART:4.4
80
75
70
60
50
40
30
25
20
10
0
Yes
No
INTERPRETATION:
From the above data it is inferred that 75% of customers are aware about the online
trading,25% customers are not aware about online trading.
41
TRADING OPTION
45
35
20
100
PERCENTAGE(%)
45
35
20
100
CHART:4.5
50
45
45
40
35
35
30
25
20
20
15
10
5
0
Others
TRADING OPTION
INTERPRETATION:
From the above data it is inferred that out of 100 respondents, 45% of respondents are
preferring self trading option, 35% of respondents prefer trade through brokers,20% of
respondents are preferring other trading options.
42
FREQUENCY OF
TRADING
30
20
15
35
100
Daily
Weekly
Monthly
Yearly
Total
PERCENTAGE(%)
30
20
15
35
100
CHART:4.6
40
35
30
35
30
25
20
20
15
15
10
5
0
Daily
Weekly
Monthly
Yearly
FREQUENCY OF TRADING
INTERPRETATION:
From the above data it is inferred that out of 100 respondents,30% of respondents are
trading daily,20% of respondents are trading weekly,15% of respondents are trading
monthly,35% of respondents are trading yearly.
43
INVESTORS OPINION
ABOUT TRADING OPTION
45
25
30
100
PERCENTAGE(%)
45
25
30
100
CHART:4.7
50
45
45
40
35
30
30
25
25
20
15
10
5
0
Intra day
INTERPRETATION:
From the above data it is inferred that out of 100 respondents,45% of respondents
prefer long term investment,25% of respondents prefer call and put option,30% of respondents
preferring investment option intraday.
44
PERCENTAGE(%)
20
20
35
10
5
10
100
CHART:4.8.
35
10
tr
us
t
10
an
d
O
pe
ni
ng
20
Cr
ed
it
wo
rt
hi
ne
ss
20
ch
ar
ge
s
40
35
30
25
20
15
10
5
0
PERCENTAGE(%)
45
INTERPRETATION:
From the above data it is inferred that the reason for choosing aditya trading solutions
are 20% of respondents are choosing because of opening charges,20% of respondents are service
or commissions,35% of respondents are image in market,10% of respondents are credit
worthiness and trust,5% of respondents are friends or relatives suggested them and10% of
respondents are employee of ADITYA TRADING SOLUTIONS approached them.
INVESTORS SATISFACTION
LEVELS
20
40
25
15
0
100
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
Total
PERCENTAGE(%)
20
40
25
15
0
100
CHART:4.9
40
25
20
H
ig
hl
y
di
ss
at
is
fe
d
fe
d
D
is
sa
tis
eu
tr
al
N
Sa
tis
fe
d
15
H
ig
hl
y
sa
tis
fe
d
45
40
35
30
25
20
15
10
5
0
INTERPRETATION:
46
From the above data it is inferred that out of 100 respondents,20% of respondents are
highly satisfied with brokerage fee,40% of respondents are satisfied with brokerage fee,25% of
respondents are neutral with brokerage fee,15% of respondents are dissatisfied with brokerage
fee.
INVESTORS AMOUNT OF
INVESTMENT
20
35
30
15
100
PERCENTAGE(%)
20
35
30
15
100
CHART:4.10
40
35
30
25
20
15
10
5
0
35
30
20
5,
00
,0
00
th
an
M
or
e
2,
01
,0
00
-5
,0
0,
00
0
51
,0
00
-2
,0
0,
00
0
Le
ss
th
an
50
,0
00
15
INTERPRETATION:
47
From the above data it is inferred that out of 100 respondents,20% of respondents are
investing less than 50,000,35% of respondents are investing 51,000-2,00,000,30% of respondents
are investing 2,01,000-5,00,000,15% of respondents are investing more than 5,00,000.
SATISFACTION LEVELS
PERCENTAGE(%)
25
40
15
15
5
100
25
40
15
15
5
100
CHART:4.11
40
25
15
15
at
is
fe
d
H
ig
hl
y
di
ss
fe
d
D
is
sa
tis
eu
tr
al
N
Sa
tis
fe
d
H
ig
hl
y
sa
tis
fe
d
45
40
35
30
25
20
15
10
5
0
SATISFACTION LEVELS
INTERPRETATION:
48
From the above table it is inferred that out of 100 respondents,25% of respondents
are highly satisfied,40% of respondents are satisfied,15% of respondents are neutral,15% of
respondents are dissatisfied and only 5% of respondents are highly dissatisfied with ADITYA
TRADING SOLUTIONS.
TABLE:4.12
OPTION
SATISFACTION LEVELS
WITH TRADING TIMES
15
45
18
17
10
100
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
total
PERCENTAGE(%)
15
45
18
17
10
100
CHART:4.12
45
17
at
is
fe
d
H
ig
hl
y
di
ss
fe
d
eu
tr
al
N
Sa
tis
fe
d
10
D
is
sa
tis
H
ig
hl
y
18
15
sa
tis
fe
d
50
45
40
35
30
25
20
15
10
5
0
49
INTERPRETATION:
From the above data it is inferred that out of 100 respondents,15% of respondents are
highly satisfied,45% of respondents are satisfied,18% of respondents are neutral,17% of
respondents are dissatisfied,10% of respondents are highly dissatisfied with trading times of
ADITYA TRADING SOLUTIONS.
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
Total
SATISFACTION LEVELS
WITH GUIDENCE
PROVIODED
20
35
20
20
5
100
PERCENTAGE(%)
20
35
20
20
5
100
CHART:4.13
50
35
20
20
20
at
is
fe
d
H
ig
hl
y
di
ss
fe
d
D
is
sa
tis
eu
tr
al
N
H
ig
hl
y
Sa
tis
fe
d
sa
tis
fe
d
40
35
30
25
20
15
10
5
0
INTERPRETATION:
From the above table it is inferred that out of 100 respondents,20% of respondents are
highly satisfied,35% of respondents are satisfied,20% of respondents are neutral,20% of
respondents are dissatisfied,5% of respondents are highly dissatisfied with guidance provided by
ADITYA TRADING SOLUTIONS.
4.14 SATISFACTION LEVELS WITH TRADING TIPS PROVIODED BY ADITYA
TRADING SOLUTIONS
TABLE:4.14
OPTION
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
Total
SATISFACTION LEVELS
WITH TRADING TIPS
PROVIODED
5
25
30
35
5
100
PERCENTAGE(%)
5
25
30
35
5
100
CHART:4.14
51
35
30
25
H
ig
hl
y
di
ss
at
is
fe
d
fe
d
D
is
sa
tis
H
ig
hl
y
eu
tr
al
Sa
tis
fe
d
sa
tis
fe
d
40
35
30
25
20
15
10
5
0
INTERPRETATION:
From the above data it is inferred that out of 100 respondents,5% of respondents are
highly satisfied,25% of respondents are satisfied,30% of respondents are neutral,35% of
respondents are dissatisfied,5% of respondents are highly dissatisfied with trading tips provided
by ADITYA TRADING SOLUTIONS.
PERCENTAGE(%)
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
SATISFACTION TOWARDS
PUTTING ORDERS
WITHOUT DELAY
15
35
30
15
5
total
100
100
15
35
30
15
5
CHART:4.15
52
35
30
15
15
H
ig
hl
y
di
ss
at
is
fe
d
fe
d
eu
tr
al
N
D
is
sa
tis
H
ig
hl
y
Sa
tis
fe
d
sa
tis
fe
d
40
35
30
25
20
15
10
5
0
INTERPRETATION:
From the above data it is inferred that out of 100 respondents, 15% of respondents
are highly satisfied,35% of respondents are satisfied,30% of respondents are neutral,15% of
respondents are dissatisfied,5% of respondents are highly dissatisfied towards putting orders
without delay.
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
total
SATISFACTION TOWARDS
REGULARITY IN SENDING
LEDGERS
10
30
35
20
5
100
PERCENTAGE(%)
10
30
35
20
5
100
CHART:4.16
53
35
30
20
10
H
ig
hl
y
di
ss
at
is
fe
d
fe
d
eu
tr
al
N
D
is
sa
tis
H
ig
hl
y
Sa
tis
fe
d
sa
tis
fe
d
40
35
30
25
20
15
10
5
0
INTERPRETATION:
From the above data it is inferred that out of 100 respondents,10% of respondents are
highly satisfied,30% of respondents are satisfied,35% of respondents are neutral,20% of
respondents are dissatisfied,5% of respondents are highly dissatisfied with regularity in sending
ledgers.
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
total
SATISFACTION LEVELS
ABOUT THE FACILITY OF
LOAN AGAINST SHARES
15
20
30
15
20
100
PERCENTAGE(%)
15
20
30
15
20
100
CHART:4.17
54
30
20
20
at
is
fe
d
di
ss
fe
d
H
ig
hl
y
D
is
sa
tis
H
ig
hl
y
eu
tr
al
15
Sa
tis
fe
d
15
sa
tis
fe
d
35
30
25
20
15
10
5
0
INTERPRETATION:
From the above data it is inferred that out of 100 respondents,15% of respondents are
highly satisfied,20% of respondents are satisfied,30% of respondents are neutral,15% of
respondents are dissatisfied,20% of respondents are highly dissatisfied with the facility of loan
against shares.
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
total
PERCENTAGE(%)
10
35
30
15
10
100
CHART:4.18
55
35
30
15
di
ss
at
is
fe
d
fe
d
H
ig
hl
y
D
is
sa
tis
H
ig
hl
y
eu
tr
al
10
Sa
tis
fe
d
10
sa
tis
fe
d
40
35
30
25
20
15
10
5
0
INTERPRETATION:
From the above data it is inferred that out of 100 respondents,10% of respondents are
highly satisfied,35% of respondents are satisfied,30% of respondents are neutral,15% of
respondents are dissatisfied,10% of respondents are highly dissatisfied with co-operation by
office staff.
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
total
SATISFACTION TOWARDS
FACILITY TRADING
THROUGH TELEPHONE
25
30
30
10
5
100
PERCENTAGE(%)
25
30
30
10
5
100
CHART:4.19
56
30
30
25
10
at
is
fe
d
H
ig
hl
y
di
ss
fe
d
D
is
sa
tis
eu
tr
al
N
Sa
tis
fe
d
H
ig
hl
y
sa
tis
fe
d
35
30
25
20
15
10
5
0
INTERPRETATION:
From the above data it is inferred that out of 100 respondents,25% of respondents are
highly satisfied,30% of respondents are satisfied,30% of respondents are neutral,10% of
respondents are dissatisfied,5% of respondents are highly dissatisfied with facility of trading
through telephone.
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
total
SATISFACTION WITH
PAYMENT COLLECTION
FACILITY
25
40
15
17
3
100
PERCENTAGE(%)
25
40
15
17
3
100
CHART:4.20
57
40
25
17
15
H
ig
hl
y
di
ss
at
is
fe
d
fe
d
eu
tr
al
N
D
is
sa
tis
H
ig
hl
y
Sa
tis
fe
d
sa
tis
fe
d
45
40
35
30
25
20
15
10
5
0
INTERPRETATION:
From the above data it is inferred that out of 100 respondents,25% of respondents are
highly satisfied,40% of respondents are satisfied,15% of respondents are neutral,17% of
respondents are dissatisfied,3% of respondents are highly dissatisfied with payment collection
facility.
PERCENTAGE(%)
55
45
100
CHART:4.21
58
60
55
50
45
40
30
20
10
0
Yes
No
INTERPRETATION:
From the above data it is inferred that 55% of respondents are facing problem while
trading with ADITYA TRADING SOLUTIONS,45% of respondents are not facing any problem
while trading with ADITYA TRADING SOLUTIONS.
INVESTORS PROBLEMS
10
25
15
30
20
100
PERCENTAGE(%)
10
25
15
30
20
100
59
CHART:4.22
35
30
25
20
15
10
5
0
30
25
20
15
pr
ob
le
m
sp
ee
d
D
el
ay
in
So
ftw
ar
e
O
rd
er
H
id
de
n
ch
ar
ge
s
ex
ec
ut
io
n
10
INVESTORS PROBLEMS
INTERPRETATION:
From the above data it is inferred that out of 100 respondents, 10% of respondents are
facing problem with hidden charges,25% of respondents are facing log in problems,15% of
respondents are facing problem with delay in order execution,30% of respondents are facing
security problem,20% of respondents are facing problem with software speed.
INVESTORS
EXPECTATION
20
15
PERCENTAGE(%)
30
20
15
30
20
15
20
15
60
specify____________________
total
100
100
CHART:4.23
30
20
__
__
__
__
__
__
__
__
ta
tu
s
ab
ou
ts
at
io
n
In
fo
rm
15
__
of
tr
ad
in
g
tio
ns
ug
ge
s
in
ve
st
m
en
ts
G
oo
d
20
15
If
ot
he
rs
pe
ci
fy
__
35
30
25
20
15
10
5
0
INVESTORS EXPECTATION
INTERPRETATION:
From the above data it is inferred that out of 100 respondents,20% of respondents are
expecting good investment suggestions,15% of respondents are expecting frequent information
about trends in market,30% of respondents are expecting information about status of trading,20%
of respondents are expecting information about status of profit/loss,15% of respondents are
expecting other specifications.
CHAPTER-5
FINDINGS & RECOMMENDATIONS
5.1 FINDINGS
40% of investors are graduates and 25% of investors are higher graduates.
61
45% of investors income levels was less than 2 lacks,25% of investors income
level was 2-4 lacks and 20% of investors income level was 4-8 lacks.
75% of investors are aware about online trading and 25% of investors are not
aware about online trading.
45% of investors are having trading experience of less than 1 year and 55% of
investors are having trading experience of 1-10 years.
45% of investors are preferring self trading option,35% of investors are
preferring trade through brokers and 20% of investors preferring other trading
options.
35% of investors are trading yearly,30% of investors are trading daily, and 20% of
investors are trading weekly.
45% of investors are preferring long term investment,30% of investors are
preferring intraday.
35% of investors are choosing because of image in market,20% of investors are
choosing because of opening charges and 20% of investors are choosing because
of service and commissions.
60% of investors are satisfied with brokerage fees and only 25% of investors are
neutral with brokerage.
55% of investors satisfied with guidance provided by ADITYA TRADING
SOLUTIONS and 20% of investors are neutral guidance provided by ADITYA
TRADING SOLUTIONS.
62
5.2 SUGGESTIONS
It is suggested to the company to reduce the brokerage fees as the investors are
dissatisfied towards the fees collected by ADITYA TRADING SOLUTIONS.
63
5.3 CONCLUSION
Company is basically intended for performing innovation for better production
and up gradation. The quality measures try to take satisfactory levels of trading
64
ANNEXURE
QUESTIONNAIRE
65
a) 20 30
b) 31 40
c) 41 50
d) 50 above
b) Inter
c) Graduate
d) Higher
b) Between 2 to 4 lakhs
c) Between 4 to 8 lakhs
b) 1 to 5 years
c) 5 to 10 years
b) No
c) Others
6) What is your frequency of trading?
a) Daily
b) Weekly
c) Monthly
d) Yearly
66
c) Intra Day
8) Why did you choose ADITYA TRADING SOLUTIONS?
a) Opening charges
b) Service or commissions
c) Image in market
b) Satisfied
c) Neutral
d) Dissatisfied
e) High dissatisfied
11) Are you satisfied with ADITYA TRADING SOLUTIONS?
a) Highly Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
e) Highly Dissatisfied
12) Are you satisfied with the trading time of ADITYA TRADING SOLUTIONS?
a) Highly Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
67
e) Highly Dissatisfied
13) Are you satisfied with guidance provided by ADITYA TRADING SOLUTIONSs
employee?
a) Highly Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
e) Highly Dissatisfied
14) Are you satisfied with trading tips provided by ADITYA TRADING SOLUTIONSs
Analysts?
a) Highly Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
e) Highly Dissatisfied
15) Are you satisfied with putting orders without delay?
a) Highly Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
e) Highly Dissatisfied
16) Are you satisfied with regularity in sending Ledgers?
a) Highly Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
e) Highly Dissatisfied
17) Are you satisfied with the facility of loan against shares?
a) Highly Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
e) Highly Dissatisfied
18) Are you satisfied with co-operation by office staff?
a) Highly Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
68
e) Highly Dissatisfied
19) Are you satisfied with facility of trading through Telephone?
a) Highly Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
e) Highly Dissatisfied
b) Satisfied
c) Neutral
d) Dissatisfied
e) Highly Dissatisfied
21) Did you face any problem while trading with ADITYA TRADING SOLUTIONS?
a) Yes
b) No
b) Log in problem
d) Lack of security
6.2 BIBLOGRAPHY
69
Marketing management
Philip kotler
Marketing management
V.S. Ramaswamy &Namakumari 1998
Research methodology
C.R. Kothari
Websites:
http://google.com
http://ADITYA TRADING SOLUTIONS pvt ltd.com
http://wikipedia.com
70