Sinhgad institute of business administration and research

Pune University Winter Internship Program - 2010

A PROJECT REPORT
On

Brand awareness for HDFC Bank

Submitted to: Snehal Galande Project Guide

Submitted by:
Naveen kumar mandal 1st semester, MMM (2010-12)

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CERTIFICATE This is to certify that NAVEEN KUMAR MANDAL student of SINHGAD INSTITUTE OF BUSINESS ADMINISTRATION &RESEARCH , Pune has completed our field work report on the topic of BRAND AWARENESS FOR HDFC BANK and submitted the field work report in partial fulfillment of MMM of the UNIVERSITY OF PUNE for the academic year 2010-12 They had worked under our guidance and direction. The said report is based on bonafide information.

Prof. SNEHAL GALANDE Project Guide

AVADOOT POL Director

Date:Place:-

SINHGAD INSTITUTE OF BUSINESS ADMINISTRATION AND RESEARCH, KONDHWA (BK)

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DECLARATION

We hereby declare that the project titled BRAND AWARENESS FOR HDFC BANK is an original piece of research work carried out by me under the guidance and supervision of SNEHAL GALANDE. The information has been collected from genuine & authentic sources. The work has been submitted in partial fulfillment of the requirement of MMM to Pune University.

Place: Date:

Signature: Name of the student

A KNOWLEDGEMENT

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I am very gratefully thanks to SIBAR that gave me the opportunity to do a market survey to analyze about the market and to utilize the skill and knowledge on this project. I would like to show our gratitude to ., for providing us with the golden opportunity to prepare an intellectual report, on BRAND AWARENESS FOR HDFC BANK in GIRIDIH region. I am grateful to , for guiding us to prepare an aesthetic report during winter training with the proper information and knowledge of research methodology. Without his kind support it would have been difficult for us to complete the project, so meaningful and interesting in a short period of time.

I would like to thank the respected faculty members, library staffs, and seniors of Institute of SIBAR,Pune for providing us such a valuable guidelines, ideas and intellectual support in order to complete this winter project. I would also like to thank the people for their warm response and great support in order to prepare the report aesthetic and meaningful.

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Table of Contents
CONTENTS Introduction Objective of Study Research Methodology Data Collection Data Analysis Research Findings Recommendations and Suggestions Conclusion Limitation of the Study Bibliography Annexure-1 Questionnaire for the survey 31 32 33-34 15-23 24-27 28 29 30 PAGES 6-8 9 10-11 12-14

INTRODUCTION

Profile
The Housing Development Finance Corporation Limited (HDFC) was amongst the first to
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receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalisation of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.

Awards
HDFC Bank began operations in 1995 with a simple mission: to be a "World-class Indian Bank". We realised that only a single-minded focus on product quality and service excellence would help us get there. Today, we are proud to say that we are well on our way towards that goal. It is extremely gratifying that our efforts towards providing customer convenience have been appreciated both nationally and internationally. 2010 Outlook Money 2010 Awards Best Bank

Businessworld Best Best Bank (Large) Bank Awards 2010 Teacher's Achievement Awards 2010 (Business) The Banker and PWM 2010 Global Private Banking Awards Economic Times Awards for Corporate Excellence 2010 Forbes Asia NDTV Business Leadership Awards 2010 The Banker Magazine Mr. Aditya Puri

Best Private Bank in India

Business Leader of the Year - Mr. Aditya Puri

Fab 50 Companies - 5th year in a row Best Private Sector Bank

World's Top 1000 Banks

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MIS Asia IT Excellence Award 2010 Dun & Bradstreet Banking Awards 2010 Institutional Investor Magazine Poll

BEST BOTTOM-LINE I.T. Category

Overall Best Bank Best Private Sector Bank Best Private Sector Bank in SME Financing HDFC Bank MD, Mr. Aditya Puri among "Asian Captains of Finance 2010"

IDRBT Technology Winner - 1) IT Infrastructure 2) Use of IT within the Bank 2009 Awards Runners-up - IT Governance (Large Banks) ACI Excellence Awards 2010 FE-EVI Green Business Leadership Award Highly Commended - Asia Pacific HDFC Bank Best performer in the Banking category

Celent's 2010 Model Bank Award Banking Innovation Award Avaya Global Connect 2010 Forbes Top 2000 Companies Financial Express Ernst & Young Survey 2009-10 Asian Banker Excellence Awards 2010 Customer Responsiveness Award - Banking & Financial Services category Our Bank at 632nd position and among 130 Global High Performers Best New Private Sector Bank Best in Growth Best in strength Best Retail Bank in India Excellence in Automobile Lending Best M&A Integration Technology Implementation

The Asset Triple A Awards Euromoney Private Banking and Wealth Management Poll 2010

Best Cash Management Bank in India 1) Best Local Bank in India (second year in a row) 2) Best Private Banking Services overall (moved up from No. 2 last year)

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Financial Insights Innovation Awards 2010 Global Finance Award

Innovation in Branch Operations - Server Consolidation Project

Best Trade Finance Provider in India for 2010

2 Banking 1) Best Risk Management Initiative and 2) Best Use of Business Technology Awards Intelligence. 2009 SPJIMR Marketing Impact Awards (SMIA) 2010 Business Today Best Employer Survey 2nd Prize

Listed in top 10 Best Employers in the country

We are aware that all these awards are mere milestones in the continuing, never-ending journey of providing excellent service to our customers. We are confident, however, that with your feedback and support, we will be able to maintain and improve our services.

Objective of the study

Every research has certain objectives. This study also has done reminding certain objectives. The Objectives behind this study are discussed below

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To study the perception of consumer towards water purifiers. To study the consumer awareness about HDFC bank as a brand To study the consumer dealing behavior of HDFC bank. To find out customers awareness about the different bankavailable in the market. To bring out customers suggestions regarding the brand of HDFC bank service.

Research methodology
Sources of data-the methodology adopted for this research study is on the basis of primary and secondary data.

Primary dataPage 9

The primary data collected for the study includes the data collected from companies in Giridih through personal interviews.

Secondary dataSecondary data was collected from the company manuals, internet, and journals.

Tools of data collectionOnly through personal interviews of company employees.

Sample designa sample design is a definite plan for obtaining a sample from a given population. It refers to the technique or the procedure adopted in selecting items for the sample. The main constituents of the sampling design below:-

Sampling unitThe sampling unit is the basic unit containing the elements of the population to be sampled .the sampling unit for the study include different companies in Giridih.

Sample size
The sample size includes 70 people

Sampling method
Selective sampling method

Tools for analysis

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1 through calculated nav values, & charges (including fmc, switch over & many more)

Method of projecting findings Tabular forms- Observations and inferences are presented in table as it makes easy to
understand the findings at glance than going through the lengthy descriptions.

Graphs- Each finding is presented in the form of the pie charts or bar diagrams after the
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Analysis for easy references. The main features of frequency distribution are conveniently communicated by representing the frequency in the form of the diagram, since the diagram is more easily and more quickly understood than a collection of numbers.

Description after the analysis of the collected data interpretations are also given at the
bottom of the tables.

Limitations
Sample size for the survey was not big. Many of the companies dont give the information needed because of their policies. Many times the concerned respondents from whom the information has to take were having time constraints.

UNIQUE SELLING PRODUCT

Fund Management Charges; We believe that our Fund management charges (FMC) are
the most competitive in the Industry. Our standard FMC is 0.8%. Please note that the effective fund management charges are calculated by making additional allocation of units to your fund. For instance: For a corpus size of Rs. 10 12 crores, by way of additional allocation of units at year-end, the effective FMC will be reduced from 0.8% to 0.475% only
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Methodology of additional units allocation: Additional allocation for arriving at the effective fund management charge is done on the day prior the policy anniversary, unlike some other insurance companies that allocate additional units based on monthly-weighted fund balance. Additional allocation based on year-end fund balance really works to your advantage because liabilities like Gratuity are funded typically at the year-end. Therefore, even by funding the annual contribution just a day prior policy anniversary, you can reap the benefits of low FMC.

Bonus Units Allocation: You will be glad to know that HDFC will allocate units worth 103% of the Initial contribution that you make to the scheme up-front. E.g. If RTDC decides to invest Rs 10 Crores with HDFC, then we would allocate units worth Rs 10.30 crores to your scheme up-front. That is extra units worth Rs. 30 lacs.

Standard Exit charge: HDFC has no standard exit charge.

Additional Exit charge:

Please note that HDFC will absorb the cost of Bonus units

(additional 3% units) that shall be allocated to your scheme. This effectively means that the bonus units allocated shall be recovered from your scheme only if you decide to withdraw from the funds on which bonus units have been allocated. Should the withdrawal happen from the initial contribution, the exit charge is as follows.

Year I 3% Year II 2.5% Year III 2%

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DATA ANALYSIS
Large volume of raw data was collected through questionnaire in my research. This raw data has been further converted into significant statistical information then carefully interpreted to fulfill the research objectives. The Collected raw data was then edited and coded by us to
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eliminated errors and assign a data pertinent category and the data analysis technique applied is:

PIE CHART BAR GRAPH

4.)In which bank you have account?

5.) how many private bank do you know?

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6.Which private bank do you prefer?

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7. how do you come to know about the HDFC BANK?

8.Why you prefer HDFC bank?

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9.What is your loyalty level towards company?

10.How long you are using HDFC BANK?

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11.Are you satisfied with this HDFC BANK?

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Research findings
On the basis of that research we find that in case of BANKS people are much influenced by Advertisements and services. By this I analyse that most of the consumers are aware of different brands of bank available. And they also understand the importance of bank. Consumers are quite satisfied with their bank because they are aware of different banks services. And their bank is providing good services and if any other bank provide any other additional services to them they will switch to the bank. For most of the consumer services, brand and security is important so they look after the bank which are more renowned in market. Positioning of the HDFC bank is good in the market, but there is some more expectation of consumers from the bank. During research, while talking to the consumers I come to know that most of the consumers looks for more guarantee/ warranty good customer service/ customer care centre and after services. So, HDFC bank have also taken great care of these things in order to well place them in the market.

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SWOT ANALYSIS

Environmental Scan / \ Internal Analysis External Analysis /\ /\ Strengths Weaknesses Opportunities Threats | SWOT Matrix

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Strength
1) Background and financial strength of the HDFC Group 2) Having the highest level of Corporate Governance Ratings & Credit Ratings rate 3) Core Competence in Financial Sector having presence in all spheres like Housing Finance, Banking, Asset Management, Life & General Insurance etc. 4) Currently managing assets over 200,000 Cores. 5) sustained and consistent fund performances: 6) Our more conservative Defensive Managed fund(G-Secs+Bonds+Liquid+15-30% equity)has given an annualized return of 13.32%for the last 3 years till 31st March 2008. 7) In this context let me clarify, no Insurance Company can guarantee areturn as per IRDA regulation; at best they can only provide a capital guarantee. Please check the Policy documents if anybody has informed to you otherwise. 8) The returns of the Defensive Managed Fund is much higher compared to any Traditional product over a longer period of time showing the benefit of going for a unit linked product in bringing down the cost of proving for the gratuity liability. 9) Extremely cost-effective charging structure.
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10) Lowest Fund Management Charge of 0.25% for a corpus of 50 Crore and above. 11) No Standard Exit Charges. 12) Allocation on 3% extra on the Initial Contribution to be received in the first year. 13) The surrender charge for such case will be 3%- year 1, 2.5%- year 2, 2.0%- year 3 & so on .

Weakness
1) Homogeneity in products- products for the retrial benefits in market are almost similar as a result 2) Not easily accessible to the complete information 3) Weak distribution channel 4) Getting right estimation for the fund is difficult and time consuming 5) While competitors provide capital guarantee but HDFC based on market vessitiudeous

Threats
1) 2) 3) 4) Entry of new competitors in the home market Price war with competitors Competitor has superior access to the channel of distribution Private organization and recently formed. 5) Government regulations as rise interest rates affected the business of insurance company . 6) Terrorism is nowadays a biggest threat to insurance companies.

Opportunities
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Target the untapped market.

Recommendation and suggestions

Target the untapped market-

Large part of market is still uncovered where competitors

have still not penetrated, and they are still unfamiliar by such products.

Strong customer building relationshiprelationship.

Selling insurance is like victory in

marathon race as all products are homogenous so key to success is building of strong customer

Improve the distribution channel- Improve the distribution channel through captives,
brokers and agents ,corporate agents and traditional method can be helpful at time like direct mail , etc . in insurance most effective channel will be face to face sales effort i.e. direct contact.

Provide more cost effective services-

As there are many competitors and all of them

are providing the similar product and position their product in similar manner so the only way to attract customers is through incurring less cost for the services.

take leaf out of another competitor s book -

As clear from above comparison

that many companies which already exit are having good bastion surveillance on all the possible companies which are associated with them or not .so as to survive in this competitive world. So company should be receptive that mean it can make strategies according to market condition in evanescent time.

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conclusion
After the completion of project I have seen the different aspects of this Winter Training Project. Also I have gained some new experience about the consumer research. While surveying I have met a large number people, with different perceptions, with different nature, and as a result of this I have learnt a lot of things like how to talk with the different people with different behavior. I am benefited a lot and this will definitely help me a lot in my summer training as well as in the future. Also the outcome that came out from this research work is that in small town Giridih HDFC bank are used on wide scale . HDFC bank is most admired brand and It mostly preferred by the consumers. Through this research I also come to know that there is potential market for HDFC bank, because services and security is the 1st preference for choosing the bank.

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Limitations of the study

1) Difficult to contact the appropriate person- It is enigmatic task to collect the

appropriate information from the financial officer of the particular organization.

2) Difficulty in finding the information - From the corporate sectors regarding the
management of the funds, their employee details and other such information. That cause to vexed query

3)Time consuming- It is not a one day job as there is need internal information about the
concerned firm and needs a strong relationship building with appropriate person of the organization.

4) Homogenous in productsperplex and convince them.

Since insurance policies are homogenous so it is

difficult for us to differentiate our products from our competitors which make our customer

Bibliography
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www.scribd.com www.google.com www.businessdictionary.com www.evancarmichael.com www.HDFC.com

Reference books-Marketing management-Research methodology-Magazines PHILIP KOTLER C. R. KOTHARI

QUESTIONNAIRE FOR THE SURVEY

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Annexure-1
Dear sir/mam, I am student of 1st year of MMM SINHGAD

INSTITUTE OF BUSINESS

ADMINISTRATION AND RESEARCH.

I am conducting this study as part of curriculum. You are requested to take out few minutes and help me in getting the survey/study done. Thanking you

NAVEEN KUMAR MANDAL

QUETIONNAIRE FOR THE SURVEY

QUESTIONNAIR

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1. Name-. Address . 2. Income range(A) 15000-20000 (C)35000-50000 3. Do you have bank account? (A) YES (A) NO 4.in which bank u have your account? (A) private (B)public (B)20000-35000

5. how many private bank do you know? (A) HDFC (C) ICICI (B) STANDARD CHATERED (D) ORIENTAL BANK

6.Which private bank do you prefer? (A)HDFC (C) ICICI (B) STANDARD CHATERED (D) ORIENTAL BANK

7. how do you come to know about the HDFC BANK? (A) News paper (C) FRIENDS (B) TELIVISION (D) ANY OTHER SOURCES
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8.Why you prefer HDFC bank? (A) Services (B)Promotional activity (C)Brand name (D)Praising 9.What is your loyalty level towards company? (A) High (c)Low 10.How long you are using HDFC BANK? (A) 3-4 years (C) More 11.Are you satisfied with this HDFC BANK? (A)Yes (B)No (B)5-10 Year (B)Medium

12.Any advices or suggestion from your side.. ..

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