MARKET RESEARCH ON BANKING INDUSTRY ENTREPRENEURSHIP

PRESENTED BY RAHMAN RAZIK SHAIK 14(IIPM)

INTERNATIONAL INSTITUTE OF PLANNING AND MANAGEMENT IIPM TOWERS, 145 MARSHALLS ROAD, EGMORE CHENNAI 600008.

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 to the questionnaire.

FINDINGS

OLD METHODS
ONE ON ONE INTERACTION VARIOUS ACCOUNTS LIKE: SAVINGS ACCOUNT CURRENT ACCOUNT FIXED DEPOSITS, ETC. LOANS PAYING CHEQUES COLLECTING CHEQUES TRANSACTION IN PAPERS NO TECHNOLOGY

NEW OFFERINGS
DEBIT CARD CREDIT CARD INTERNET BANKING PHONE BANKING DEMAT ACCOUNT FOREX MANAGEMENT INSURANCE MUTUAL FUNDS MOBILE RECHARGE ATVANCE TAX PAYMENT ATM BANK OVERDRAFT LOANS AND ADVANCES CERTIFICATE OF DEPOSITS COMMERCIAL PAPERS CASH MANAGEMNT INVESTMENT ADVISORY

CUSTOMER EXPECTS
SUNDAY BANKING 8 TO 8 WORK TIME HOME DELIVERY INDIVIDUAL CUSTOMER IMPORTANCE E-MAIL BANKING NO CHARGES FOR DD-ONLY FOR ACCOUNT HOLDERS NO CHARGE FOR CHEQUE LEAF LOANS WITHOUT MUCH SECURITIES REDUCE LONG Q'S FAMILY ACCOUNT BLUE PRINT CARD PLATFORM ( DONE IN AMERICA) QUICK MONEY TRANSFER TO ANYWHERE IN THE WORLD FORWARD CREDIT CARD TRADE IN GLOBAL MARKETS SAFETY MEASURES FRIENDSHIP ACCOUNT CHEQUES SHOULD BE CLEARED IN MINUTES

TAX ADVISORY VEHICLE LOANS HOME LOANS TRADE SERVICES FACTORING SERVICES INTERNATIONAL MONEY TRANSFER NRI BANKING FOREIGN CURRENCY LOANS HELPS IN EXPORT HELPS IN INPORT REMITTENCE BANK GUARENTEE BILLS DISCOUNTING LETTER OF CREDIT RUPEE FINANCE

INTEREST RATED SHOULD BE REDUCED FOR LOANS NO PAPERS EVERYTHING ONLINE

EXTERNAL COMMERCIAL BORROWINGS

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

- 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:

ACCOUNT NUMBER PORTABILITY

YES 40% NO 60%

CUSTOMER PREFERENCE ON BANKING PRODUCTS (out of 30):

12 10 8 6 4 2 0 free home delivery Ads about E-mails about new products new products or services at banking place Online transactions Display of mailers on various new festival services and offers by Eproducts mail / Couriers / post

How many accounts that the customers have?

60% 50% 40% 30% 20% 10% 0% 1 2 3 more than 3

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

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 <2 years o 2-4 years o 4-6 years o 6-8 years 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

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 them accordingly 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.

( ) No personal attention or touch ( ) Too many customers / 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 banking place ( ) 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 mobile number portability) o Yes o No

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

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 <22 o >23 to 27 o 28 to 32 o 33 to 37 o 38 to 42 o 43 to 47 o 48 to 52 o 53 to 57 o 58 to <62 15. Income earning 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 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 2LAKHS o 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: