SYNOPSIS

ON
“A STUDY OF CUSTOMER SATISFACTION OF HDFC BANK IN
NAGPUR”

Submitted To

Rashtrasant Tukadoji Maharaj Nagpur University for Partial

Fulfillment of the Degree of Master in Business
Administration (MBA)”

Submitted by
PRAFUL WANKHEDE

Guide
___________________

Dr. Ambedkar Institute of Management Studies and Research,

Deeksha Bhoomi, Nagpur

2018 – 19
INTRODUCTION

Satisfaction is an overall psychological state that reflects the evaluation of a

relationship between the customer/consumer and a company-environment-product-service.
Satisfaction involves one of the following three psychological elements: cognitive
(thinking/evaluation), affective (emotional/feeling), and behavioral. "Satisfaction" itself can
refer to a number of different facts of the relationship with a customer. For example, it can
refer to any or all of the following: Satisfaction with the quality of a particular product or
service Satisfaction with an ongoing business relationship Satisfaction with the price-
performance ratio of a product or service Satisfaction because a product/service met or
exceeded the customer's expectations The achievement of customer satisfaction leads to
company loyalty and product repurchase. There are some important implications of this
definition:

Because customer satisfaction is a subjective, non-quantitative state, measurement

won't be exact and will require sampling and statistical analysis. Customer satisfaction
measurement must be undertaken with an understanding of the gap between customer
expectations and attribute performance perceptions.

There should be some connection between customer satisfaction measurement and

bottom-line results. Customer satisfaction is influenced by perceived quality of product and
service attributes, features and benefits, and is moderated by customer expectations regarding
the product or service. Each of these constructs that influence customer satisfaction need to
be defined by the researcher.

Expectations are beliefs (likelihood or probability) that a product/service (containing

certain attributes, features or characteristics) will produce certain outcomes (benefits-values)
given certain anticipated levels of performance based on previous affective, cognitive, and
behavioral experiences. Expectations are often seen as related to satisfaction and can be
measured as follows:
COMPANY PROFILE

HDFC Bank (Housing Development Finance Corporation) is an Indian banking and

financial services company headquartered in Mumbai, Maharashtra. It has about 87,555
employees and has a presence in Bahrain, Hong Kong and Dubai. HDFC Bank is the second
largest private bank in India as measured by assets. It is the largest bank in India by market
capitalization as of February 2016. It was ranked 69th in 2016 BrandZTM Top 100 Most
Valuable Global Brands.

HISTORY

The HDFC Bank was incorporated on August 1994 by 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. The Housing Development Finance
Corporation (HDFC) was amongst the first to 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
liberalization of the Indian Banking Industry in 1994.
HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable
network of over 1416 branches spread over 550 cities across India. All branches are linked on
an online real–time basis. Customers in over 500 locations are also serviced through
Telephone Banking. The Bank also has a network of about over 3382 networked ATMs
across these cities.
The promoter of the company HDFC was incepted in 1977 is India's premier housing
finance company and enjoys an impeccable track record in India as well as in international
markets. HDFC has developed significant expertise in retail mortgage loans to different
market segments and also has a large corporate client base for its housing related credit
facilities. With its experience in the financial markets, a strong market reputation, large
shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a
bank in the Indian environment.
The shares are listed on the Bombay Stock Exchange Limited and The National Stock
Exchange of India Limited. The Bank's American Depository Shares ( ADS ) are listed on the
New York Stock Exchange (NYSE) under the symbol 'HDB' and the Bank's Global
Depository Receipts (GDRs) are listed on Luxembourg Stock Exchange.
NEEDS OF THE STUDY

With the phenomenal increase in the country's population and the

increased demand for banking services; speed, service quality and
customer satisfaction are going to be key differentiators for each bank's
future success. Thus, it is imperative for banks to get useful feedback on
their actual response time and customers’ service quality perceptions of
retail banking, which in turn will help them take positive steps to maintain
a competitive edge.
RATIONALE OF THE STUDY

Customer satisfaction measures how well the expectations of a customer concerning a

product or service provided by your company have been met.

Customer satisfaction is an abstract concept and involves such factors as the quality of
the product, the quality of the service provided, the atmosphere of the location where the
product or service is purchased, and the price of the product or service. Businesses often
use customer satisfaction surveys to gauge customer satisfaction. These surveys are used to
gather information about customer satisfaction. Typical areas addressed in the surveys
include:

OBJECTIVES OF THE STUDY

To know the customer satisfaction level and their perception regarding HDFC Bank.

To know the customer awareness regarding the Bank’s products.

To know the level of interest of customer regarding the different schemes of bank.

To know the preference of customer regarding the extra services.

To know the problems of customer regarding bank.

HYPOTHESIS

 To study the different Pricing Strategies adopted by HDFC Bank, Nagpur.

 To study the effect of this pricing strategies on customers buying behavior.
SCOPE OF THE STUDY

 It will extend to the actual field study of these outlets in Nagpur.

 It will give information to prospective customers.
 This report provides a frame of mind of people, what are the expectations of
consumer and up to how much level those expectations can meet.
 The main purpose of the study is aware the customers about the new HDFC Bank.
 This report will help to understand the consumer behaviour towards purchasing a new
HDFC Bank.

LIMITATION

 The study is only limited in Nagpur City

 The sample size is only 50 Customers
 The period selected for the study is year 2018.
 This project is limited to the marketing strategy used by HDFC Bank.
 LITERATURE REVIEW

Assaari and Karia1 (2000) in their paper titled, “Churn Management towards
Customer Satisfaction; A Case of Cellular operations in Malaysia” have viewed that customer
satisfaction and customer service have been critical factors of the cellular industry. Cellular
service providers need to ensure about the technology that provides customer service best in
the industry.

Bepko2 (2000) in his article entitled, “Service Intangibility and Its Impact on
Consumer Expectations of Service Quality” has pointed out that among the areas which need
to be addressed in service quality research is the nature of consumer expectations across the
range of intangibility. Previous research has compared consumers service quality
expectations across services, but different groups of subjects have been evaluated for each
different service.

Carsten Fink, Aaditya Mattoo and RandeepRathindran (2001) in their study titled,
“Liberalizing Basic Telecommunications: The Asian Experience” have found that despite the
move away from traditional public monopolies, most Asian governments are still unwilling to
allow unrestricted entry, eliminate limits on private and foreign ownership, and establish
strong independent regulators.

David M. Szymanski and David H. Henard4 (2001) in their study entitled, “The New
Marketing Developing Long-term Interactive Relationships” have said that the growing
number of academic studies on customer satisfaction and the mixed findings they report
complicate the efforts among managers and academics to identify the antecedents to, and
outcomes of businesses having more against less-satisfied customers.

Levesque, T and McDougall, G.H.G. (1996), the study investigated the major
determinant of customer satisfaction and future behavioral intensions in the retail banking
sector. The study identifies the determinants that include service quality dimensions (e.g.
getting it right the first time), service features (e.g. competitive interest rates), service
problems, service recovery and products used.

Levesque, T and McDougall, G.H.G. (1996), Determinants of Customer Satisfaction

in retail Banking, Internations Journal of Bank Marketing, Vol.14, No.3, pp. 12-20. Malhotra,
M., and Arora, S. (1999). The study investigates that level of customer satisfaction in the
public sector banks and th3e private, with the purpose of helping bank managements to
formulate marketing strategies to attract customers towards them.
 RESEARCH METHODOLOGY

Research is a search for facts. It answers the questions and gives solutions to
the problems. Research is an organized enquiry. It seeks to find explanations to unexplained
to classify the doubtful facts and to current the misconceived facts.

RESEARCH METHOD

A researcher is using quantitative research method for the research.

SAMPLE DESIGN

Researcher is using sampling method in which some elements of the population are
included in the sample. It is a framework or blueprint for conducting the marketing research
or any other research project. It specifies the details of the procedures necessary for obtaining
the information needed to structure and solve the marketing or other problems.

SAMPLE SIZE: -

The Sample Size chosen for this study is 50 Respondent.

SAMPLE AREA: -

The sampling area NAGPUR CITY.

TYPE OF DATA COLLECTION

Generally two types are data are used for any research, which are very important for the
research; these can be discussed as –

1. Primary Data
2. Secondary Data
Primary Data –

Primary data are the data which are original in character, obtained for the first time, being
collected from the respondents, either through questionnaire or through personal interviews.
This can be collected by various methods like
 Surveys
 Observation
 Experimentation
 Measurements
 Personal interview
 Telephonic interview
 Questionnaires
Researcher have selected/taken PI and Questionnaire for collecting data.

Secondary data –

Secondary data is the data, which has been collected by someone else for some other
purpose and is used by the researcher in his research for study. Various sources of secondary
data are Catalogues, Brochures, Magazines and Websites, Television etc. In this project I
made use secondary data for gaining more and more about the company, its products and
various benefits an advisors will be getting. For acquiring this knowledge I have studied
secondary sources like company websites, brochures, paper presentations etc
BIBLIOGRAPHY

 www.bnknetindia/com/banking/finance
 http://en.wikipedia.org/wiki/bankingfinancialcompany
 www.hdfcbank.com
 www.hdfcbank/products/finance
 www.google.com
 www.iloveindia.com.

Newspaper :-

The Economic Times

THE TIMES OF INDIA