SEVENTH PIMR NATIONAL CONFERENCE ON IT

AND MARKETING CONFERENCE ON

IT ENABLED MARKETING PRACTICES FOR
GLOBAL BUSINESS ORGANISATION
PAPER PRESENTATION ON

CUSTOMER SATISFACTION
SURVEY
WITH SPECIAL REFERENCE TO BANK OF INDIA

BY :SURBHI JAIN
ANADI UPADHYAYA

INTRODUCTION

THE WORD BANK IS DERIVED FROM FRENCH WORD BANCO

WHICH MEANS BENCH OR MONEY EXCHANGE TABLE.

FINANCE IS THE LIFE BLOOD OF ANY BUSINESS,TRADE OR

INDUSTRY. BANK IS THEREFORE BACKBONE OF ANY
BUSINESS.

CUSTOMER SATISFACTION IS A PERSONS FEELING OF

PLEASURE OR DISAPPOINTMENT FROM COMPARING A
PRODUCT PERCEIVED PERFORMANCE IN RELATION TO
HIS/HER EXPECTATIONS.

A SIMPLER WAY TO DEFINE CUSTOMER SATISFACTION IS

CUSTOMERS AFTER PURCHASE JUDGEMENT OR EVALUATION
OF SPECIFIC PRODUCT OR SERVICE.

CONTD..

BANKING IS A CUSTOMER ORIENTED SERVICE AND BANK HAS

STARTED REALISING THAT BUSINESS DEPENDS ON CLIENT
SERVICE AND SATISFACTION OF THE CUSTOMER.

BANKS ARE NOW GIVING STRESS ON CUSTOMER SERVICES AND

BUILDING RELATIONS.
CUSTOMER STILL BELIEVES IN TRADITIONAL BANKING
RATHER THAN MODERN BANKING.

BANK NEEDS TO IMPROVE THEIR MARKETING STRATEGIES TO

ATTRACT CUSTOMERS THROUGH VARIOUS OTHER OPTIONS
AVAILABLE BESIDES BASIC BANKING ACTIVITY.

OBJECTIVES OF STUDY
OBJECTIVES OF THE STUDY WERE AS FOLLOWS:

TO KNOW CUSTOMER AWARENESS FOR BANKING

PRODUCTS AND SERVICES.

TO SUGGEST STRATEGIES FOR IMPROVING CUSTOMER

SATISFACTION.

LITERATURE REVIEW
SOME LITERARTURE REVIEWS ARE :1.

PARSURAMAN ET AL (1985) :- SERVICES DIFFER FROM GOODS IN

TERMS OF HOW THEY ARE
PRODUCED,CONSUMED AND EVALUATED.SERVICES ARE
INTANGIBLE SINCE THEY ARE EVALUATED ON PERFORMANCE
AND EXPERIENCES RATHER THAN OBJECTS THAT CAN BE
PRECISELY MANUFACTURED.

2.

SHEMWELLET AL (1998):-IN TODAYS WORLD OF INTENSE

COMPETITION,A FIRMS ABILITY TO
DELIVER HIGH QUALITY SERVICES THAT RESULTED SATISFIED
CUSTOMER IS THE KEY TO SUSTAINABLE COMPETITIVE
ADVANTAGE.

CONTD..
3. ANDERSON & MITTAL ,( 2000) :- THEY PROPOSED THAT
CONCEPTUAL LOGIC OF
RELATIONSHIPS WITHIN THE CUSTOMER SATISFACTION CHAIN
BY IMPROVING PRODUCT AND SEVICE QUALITY
ATTRIBUTES,CUSTOMER SATISFACTION SHOULD INCREASE.THE
INCREASE IN CUSTOMER SATISFACTION SHOULD LEAD O
GREATER CUSTOMER RETENTION AND LOYALTY.THEN THE
IMPROVEMENT IN CUSTOMER RETENTION AND LOYALTY WILL
LEAD TO GREATER PROFITABILITY.
4. HANSEMARK & ALBINSON, (2004) :- CUSTOMER
SATISFACTION
CAN RESULT
IN VARIOUS BENEFITS.FOR INSTANCE , SATISFIED
CUSTOMERS TEND TO BE LESS PRICE SENSITIVE,MORE
WILLING TO BUY ADDITIONAL PRODUCTS AND LESS
INFLUENCED BY COMPETITORS PRODUCT.

RESEARCH METHODOLOGY
THE STUDY:THE STUDY IS CONDUCTED TO KNOW CUSTOMER AWARENESS
FOR BANKING PRODUCTS AND SERVICES AND TO SUGGEST
STRTEGIES FOE IMPROVING SATISFACTION.

THE SAMPLE:THE SAMPLE OF 100 RESPONDENTS WAS SELECTED FROM THE

CUSTOMERS OF BANK OF INDIA.

TOOLS FOR DATA COLLECTION:SELF DESIGNED QUESTIONNAIRE WAS ADMINISTRATED AMONGST

100 RESPONDENTS. THE SAMPLE TAKEN WAS OF REGULAR WALKIN CUSTOMERS WHO HAS ACCOUNT IN THE BANK AND WHO
AVAILS ITS SERVICES AND FACILITIES.

TOOLS FOR DATA ANALYSIS: PERCENTAGE ANALYSIS WAS USED FOR ANALYSIS OF DATA.

RESULTS AND INTERPRETATIONS

Of total survey 92% account holders are saving accounts holders and clears
majority account holders use bank as a source of investment.
Of total survey regarding loan 12% majority seems to have taken loan for
house purpose and 12% for education ,also limited amount of 7% were loan
takers for personal loan or auto fin loan.
Of third party product by bank gold coins clear majority from preference
of customers i.e. 80% defeating insurance and mutual funds.
Of other products and services like ICICI Prudential products,Kotak
Mahindra Products,UTI products including NEFT/RTGS,ATM cum Debit
cards and DD/Remittance cleans majority of preference by customers.
On a study regarding satisfaction from services and relationship years
majority customers were long term service takers i.e. more than
11years.This highlights the satisfaction and service quality to customer.

CONTD..
Of various reasons for customers choosing Bank Of India for the
transaction and investments, the company tie ups salary account and good
customer services provided by bank were at priority.
Of the total customers visiting branch,visiting priority is 2-3 times a
month,various few are those who visits bank that frequently visitors are
current account holders and mutual fund investors.
Majority of customers seem to not have information regarding core
banking services provided which unites one bank to all.
Also awareness regarding account portability is 73% of surveyed customer
were aware of process,terms,conditions of account portability.
Majority customers i.e 89% seems aware of alerts on mobile of credits and
and debits in your account.

SUGGESTIONS
Improvement in number of Staff at branches should be made.
Proper Training must be given to whole staff.
One Marketing team member must necessarily be posted at each
branch to give information regarding products and services to its
customers.
One Relationship Manager must be posted at each branch to deal with
Diamond Category or Premium Customers.
The staff should be adequately trained to deal with the customer on one
to one basis.
Clearly defined customer policy should be adopted by the banks.
Customers needs should be anticipated in advance so that they can be
helped out in a better way.

CONCLUSION
In todays competitive environment relationship marketing is critical to
banking corporate success. Banking is a customer oriented services industry
and Indian banks have started realizing that business depends on client
service and the satisfaction of the customer. This is compelling them to
improve customer service and build relationships with customers.
To conclude my study I would like to say that Bank is really a vast
sector. Customers are least aware of various products and services also they
fear to avail facilities like Credit Cards, ATMs' ,Mobile Banking, Phone
Banking and Internet Banking etc.
Customers still believe in Traditional Banking rather than Modern
Banking. To make people aware regarding various services and their utility
and importance for the future Bank needs to apply proper Marketing
Strategies.

REFERENCES
Shemwell, D. J., Yavas, U. & Bilgin, Z. 1998. Customer-service provider
relationships: an empirical test of a model of service quality, satisfaction
and relationship-oriented outcomes.
International Journal of Service Industry Management,
9(2): pp. 155-168.
Hansemark, O. C. & Albinsson, M. 2004. Customer satisfaction and
retention: the experiences of
individual employees. Managing Service Quality,14(1): pp. 40-57.
Anderson, E. & Mittal, V. W. 2000. Strengthening the satisfaction-profit
chain. Journal of Service
Research, 3(2): pp. 107-120.
Parasuraman, A., Zeithaml, V. A. & Berry, L. L. 1985. A conceptual model
of service quality and its implications for future research. Journal

Philip Kotler Principles of Marketing Management , New Delhi Prentice

Hall of India , Millenium , 1999.
CR Kothari Research Methodology :Methods And Techniques New delhi :
Vishwa Prakashan

WEBLIOGRAPHY
www.bseindia.com/downloads/BankingSector.pdf
www.bankofindia.com

THANKS..
&
QUERIES..????