AN ANALYSIS OF CUSTOMER

SATISFACTIONTOWARDS
THE SERVICES OF KOTAK
MAHIIVDRA
BANK
kotak@

Kotak Mahindra
Bank
Table of Contents

Student

declaration Certificate

Acknowledgement

Executive Summary

CHAPTER- 1: INTRODUCTION

About the Industry

About Organization/ Company Profile

CHAPTER - 2: Literature Review

Customer satisfaction
Purpose
Construction
Swot Analysis

CHAPTER - 3: RESEARCH METHODOLOGY

Research Methodology of the study
Research Objective
Data Collection Techniques
Sample size
Limitations

CHAPTER - 4: ANALYSIS& INTERPRETATION

CHAPTER- 5: FINDINGS & SUGGESTIONS

Findings
Suggestions
CHAPTER- 6: CONCLUSION
 CHAPTER - 7: QUESTIONNAIRES
CHAPTER - 8: REFERENCES

EXECUTIVE SUMMARY
The proj e c t is based on the customer satisfaction for
the B an king p ro d uc t s with a sp e c i a l re fe renc
e to KOTA K MA HINDRA BANK and the c o n
sumer p e rc ep ti on ab out the s am e .
F irst and F o re m o st , the p urp o se of Kota k Mah
i n dr a Bank i s to ful fi l l th e n ee ds fo r i n ve
stm en t u nd er o n eroo f.
This p roj e ct s hows , the common man has starte d
c ap i t a l m ark e t term l ike b u l l and bear e xp l
o d e ne w ti m e .
I t g iv es th e d et a il v iew o f t he re gu lat ory fra
me wor k for the Kota k M a h in dr a B ank
The fo cus sh i ft to vari o u s p ro duc t s of
KOTA K MA HINDRA BANK to c at e r to the
needs such as r e turn e x p la n ati o n , fi na n c
ia l p o si tio n , r i sk t o le r anc e, e tc .
The next p h a se look up the i nv e st m e nt in
growth o r iente d s to c k which are av ai lab le at a
t tr a c t i v ere l at iv e va luat io n .
 SCOPEOE-THESTUDY

This study helps in finding out the satisfaction of most important resource that
is human resource in Kotak Mahindra Bank.
This also helps in finding the effect ness of human resource policies in
organization.
The study provides knowledge of various products& investment services of
Kotak
Mahindra Bank
The study helps to learn of work culture of organization.

The study of also helps to learn what as the various benefits available to the
advisor in an organization.
The study also helps the company to be aware of important that it's has to make in
its incentives plan.
 Chapt.er : I

INDUSTRY PROFILE

BANKING STRI CT! RF IN

INDIA

Scheduled Banks in India

Public sector Private sector Foreign

Regional Rural
Banks in
Banks Banks Bank
India

27 29 102

Nationalized
• Old Private
Bank Banks
Other Public
Sector • New Private
Banks
Banks
(IDBI) SBI
and its
Associates
Çnnporntivo

Scheduled Urban Cooperative Scheduled State Cooperative

Banks (55) Banks (31)

Here we more concerned about private sector banks and competition among
them. Today, there are 27 private sector banks in the banking sector: 19 old private sector
banks and 8 new private sector banks.

These new banks have brought in state-of-the-art technology and Aggressively

marketed their products. The Public sector banks are Facing a stiff competition from the new
private sector banks.

The banks which have been setup in the 1990s under the guidelines of the
Narasimham Committee are referred to as NEW PRIVATE SECTOR BANKS.

New Private Sector Banks

Superior Financial Services

 Designed Innovative Products
Tapped new markets
Accessed Low cost NRI funds
Greater efficiency

INDIAN BANKING INDUSTRIES

The Indian banking market is growing at an astonishing rate, with Assets
expected to reach US$ I trillion by 2010. An expanding economy, middle class, and
technological innovations are all contributing to this growth.

The country's middle class accounts for over 320 million people. In correlation
with the growth of the economy, rising income levels, increased standard of living, and
affordability of banking products are promising factors for continued expansion.

The Indian banking Industry is in the middle of an IT revolution, Focusing on the

expansion of retail and rural banking. Players are becoming increasingly customer - centric
in their approach, which has resulted in innovative methods of offering new banking
products and services. Banks are now realizing the importance of being a big
player and are beginning to focus their attention on mergers and acquisitions to take
advantage of economies of scale and/or comply with Basel Il regulation. "Indian banking
industry assets are expected to reach USSI trillion by 2010 and are poised to receive a
greater infusion of foreign capital,"says Prathima Rajan, analyst in Celent's banking
group and author of the report. "The banking industry should focus on having a small
number of large players that can compete globally rather than having a large number of
fragmented players."
 COM.PAX-ESEROE.ILE

Established in 1984, The Kotak Mahindra Group has long been one of India's
most reputed financial organizations. In Feb 2003, Kotak Mahindra Finance Ltd., the group's
flagship company was given the license to carry on banking business by the Reserve Bank of
India (RBI). This approval creates banking history' since Kotak Mahindra Finance Ltd is the
first company in India to convert to a bank. The license authorizing the bank to carry on
banking business has been obtained from the RBI in tune with Section 22 of the Banking
Regulation Act 1949.
KMBL was promoted by Mr. Uday.S.Kotak, Kotak and Company Ltd and Mr.

Sidney &A.A.Pinto under the name of Kotak Capital Management Finance Ltd on 21st Nov

1985 and obtained a Certificate of Commencement of Business on I I th Feb 1986.

The bank customers have access to entire VISA network of 4500 ATM'S in India
and 800000ATM'S worldwide accepted in more than 56000 establishments across India and
10 million worldwide. The customer also has access to over 800 ATM's with sharing
arrangements with UTI BANK, of these 125 are in the NCR.
Kotak Mahindra is one of India's leading financial institutions, offering complete
financial solutions that encompass every sphere of life. From commercial banking, to stock
broking, to mutual funds, to life insurance, to investment banking, the group caters to the
financial needs of individuals and corporate.
The group has a net worth of over Rs.l, 800 crore and employs over 4,400
employees in its various businesses. With a presence in 82 cities in India and offices in New
York, London, Dubai and Mauritius, it services a customer base of over 5,

Kotak Mahindra has international partnerships with Goldman Sachs (one of the
world's largest investment banks and brokerage firms) and Old Mutual (a large insurance,
banking and asset management conglomerate)

The Kotak Mahindra Group was born in 1985 as Kotak Capital Management
Finance Limited. This company was promoted by Uday Kotak, Sidney A. Pinto and Kotak
& Company. Industrialists Harish Mahindra and Anand Mahindra took a stake in 1986, and
that's when the company changed its name to Kotak Mahindra
Finance Limited. Since then it's been a steady and confident journey to
growth and success.

1986 : Kotak Mahindra Finance Limited starts the activity of Bill Discounting
1987 : Kotak Mahindra Finance Limited enters the Lease and Hire
Purchase market
1990 : The Auto Finance division is started
1991 : The Investment Banking Division is started. Takes over FICOM, one of
India's largest financial retail marketing networks
1992 Enters the Funds Syndication sector
1995 Brokerage and Distribution businesses incorporated into a separate company
- Kotak Securities. Investment Banking division incorporated into a separate
company - Kotak Mahindra Capital Company
1996 The Auto Finance Business is hived off into a separate company Kotak Mahindra
Primus Limited. Kotak Mahindra takes a significant stake in Ford Credit Kotak
 Mahindra Limited, for financing Ford vehicles. The launch of Matrix Information
Services Limited marks the Group's entry into information distribution.

1998 Enters the mutual fund nurket with the launch of Kotak Mahindra Asset
Management Company.
2000 : Kotak Mahindra ties up with Old Mutual plc. for the Life
Insuranc business.
Kotak Securities launches kotakstreet.com - its on-line broking site.
Formal commencement of private equity activity through setting up of Kotak
Mahindra
Venture Capital Fund.
2003 : Kotak Mahindra Finance Ltd. Converts to bank
-KotaK- Mahindra- Pri me

Kotak Mahindra Prime Limited (KMP) (formerly known as Kotak Mahindra

Primus Limited) has been formed with the objective of financing the retail and wholesale
trade of passenger and multi utility vehicles in India. KIMP offers customers retail finance
for both new as well as used cars and wholesale finance to dealers in the automobile trade.
KIMP continues to be among the leading car finance companies in India.

Kotak Mahindra Asset Management Company

Kotak Mahindra Asset Management Company Kotak Mahindra Asset Management

Company (KMAMC), a subsidiary of Kotak Mahindra Bank, is the asset manager
for Kotak Mahindra Mutual Fund (KMMF). KMMF manages funds in excess of Rs 20,800
crore and offers schemes catering to investors with varying risk-return profiles. It was the
first fund house in the country to launch a dedicated gilt scheme investing only in
government securities.

Kotak Mahindr-aQ.l.d Mutual Liie Insurance Limited

Kotak Mahindra Old Mutual Life Insurance Limited is a joint venture between
Kotak Mahindra Bank Ltd. and Old Mutual plc. Kotak Life Insurance helps customers to
take important financial decisions at every stage in life by offering them a wide range of
innovative life insurance products, to make them financially independent.

BOARD OF DIRECTORS

Mr. K.M.Gherda — Executive Chairman

Mr. Uday Kotak —Executive Vice Chairman and Managing Director

 Mr. Anand Mahindra —Co Promoter of Kotak Mahindra Bank and
Vice Chairman and Managing Director of Mahindra and Mahindra

Mr. Cyril Shroff—Co Promoter

Mr. Pradeep N Kotak —Agri Division of Kotak and Company

Limited

Dr. Shanker Acharya

Mr. Shivaji Dam —Managing Director Kotak Mahindra Old Mutual o

Life Insurance Limited

Mr. C.Jayaram —Executive Director

Mr. Dipak Gupta —Executive Director

Chapter : 2
LITERATURE REVIEW
 Customer satisfaction

A term frequently used in marketing, is a measure of how products and services

supplied by a company meet or surpass customer expectation. Customer satisfaction is
defined as "the number of customers, or percentage of total customers, whose reported
experience with a firm, its products, or its services (ratings) exceeds specified
satisfaction goals. In a survey of nearly 200 senior marketing managers, 71 percent
responded that they found a customer satisfaction metric very useful in managing and
monitoring their businesses.

It is seen as a key performance indicator within business and is often part 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 strategv.

Within organizations, customer satisfaction ratings can have powerful effects.

They focus employees on the importance of fulfilling customers' expectations.
Furthermore, when these ratings dip, they warn of problems that can affect sales and
profitability. . These metrics quantify an important dynamic. When a brand has loyal
customers, it gains positive word-of-mouth marketing, which is both free and highly
effective.

Therefore, it is essential for businesses to effectively manage customer

satisfaction. To be able do this, firms need reliable and representative measures of
satisfaction.
 "In researching satisfaction, firms generally ask customers whether their
product or service has met or exceeded expectations. Thus, expectations are a key factor
behind satisfaction. When customers have high expectations and the reality falls short,
they will be disappointed and will likely rate their experience as less than satisfying. For
this reason, a luxury resort, for example, might receive a lower satisfaction rating than a
budget motel— even though its facilities and service would be deemed superior in
'absolute' terms.

The importance of customer satisfaction diminishes when a firm has increased

bargaining power. For example, cell phone plan providers, such as AT&T and Verizon,
participate in an industry that is an oligopoly, where only a few suppliers of a certain
product or service exist. As such, many cell phone plan contracts have a lot of fine print
with provisions that they would never get away if there were, say, a hundred cell phone
plan providers, because customer satisfaction would be way too low, and customers
would easily have the option of leaving for a better contract offer.

There is a substantial body of empirical literature that establishes the benefits

of customer satisfaction for firms.

PURPOSE

Fix it, improve it, make

changes

if they the Sell

the
new product improved
Ask customers like
 product
Assess progress (is it
selling?)

A business ideally is continually seeking feedback to improve customer

satisfaction.

"Customer satisfaction provides a leading indicator of consumer purchase

intentions and loyalty. Customer satisfaction data are among the most frequently
collected indicators of market perceptions. Their principal use is twofold:

"Within organizations, the collection, analysis and dissemination of these data

send a message about the importance of tending to customers and ensuring that
they have a positive experience with the company's goods and services.
2. "Although sales or market share can indicate how well a flim is performing
currently, satisfaction is perhaps the best indicator of how likely it is that the
firm's customers will make further purchases in the future. Much research

d on the relationship between customer satisfaction and retention. Studies indicate that the
ns of satisfaction are most strongly realized at the extremes." On a five-point scale, "individuals
eir satisfaction level as '5' are likely to become return customers and might even evangelize for the
ond important metric related to satisfaction is willingness to recommend. This metric is defined as
ntage of surveyed customers who indicate that they would recommend a brand to friends." When a
s satisfied with a product, he or she might recommend it to friends, relatives and colleagues. This
owerful marketing advantage.) "Individuals who rate their satisfaction level as ' l by contrast, are
return. Further, they can hurt the firm by making negative comments about it to prospective
Willingness to recommend is a key metric relating to customer satisfaction.

CONSTRUCTION
 Organizations need to retain 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 measured at the individual level, but it is almost

always reported at an aggregate level. It can be, and often is, measured along various
dimensions. A hotel, for example, might ask customers to rate their experience with its
front desk and check-in service, with the room, with the amenities in the room, with the
restaurants, and so on. Additionally, in a holistic sense, the hotel might ask about
overall satisfaction 'with your stay.

As research on consumption experiences grows, evidence suggests that

consumers purchase goods and services for a combination of two types of benefits:
hedonic and utilitarian. Hedonic benefits are associated with the sensory and
experiential attributes of the product. Utilitarian benefits of a product are associated
with the more instrumental and functional attributes of the product (Batra and Athola
1990).

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.

Work done by Parasuraman, Zeithaml and Berry (Leonard L) 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
expectation of performance) into a single measurement of performance according to
expectation.
 ec mque or sca e. e cus omer IS as e o eva ua eac s a emen an 111 erm of their perception and
pectation of performance of the organization being measured. Their satisfaction is generally measured
a five-point scale.

Neither
Very Somewhat Somewhat Very
satisfied nor
issatisfied dissatisfied satisfied satisfied
dissatisfied

2 3 4 5
ustomer satisfaction data can also be collected on a 10-point scale.

egardless of the scale used, the objective is to measure customers' perceived satisfaction with their experience
a firm's offerings. It is essential for firms to effectively manage customer satisfaction. To be able do this, we
d accurate measurement of satisfaction.

od quality measures need to have high satisfaction loadings, good reliability, and low error variances. In an
pirical study comparing commonly used satisfaction measures it was found that two multi-item semantic
erential scales perfonned best across both hedonic and utilitarian service consumption contexts. According to
dies by Wirtz & Lee (2003), they identified a six-item 7-point semantic differential scale (e.g., Oliver and Swan
83), which is a six-item 7-point bipolar scale, that consistently performed best across both hedonic and
itarian services. It loaded most highly on satisfaction, had the highest item reliability, and had by far
lowest error variance across both studies. In the study, the six items asked respondents' evaluation of
ir most recent experience with ATM services and ice cream restaurant, along seven points within
se six items: "please me to displeased me", "contented with to disgusted with", "very satisfied with to
y dissatisfied with", "did a good job for me to did a poor job for me", "wise choice to poor choice"
d "happy with to unhappy with".

semantic differential (4 items) scale (e.g., Eroglu and Machleit 1990), which is a fouritem 7-point
olar scale, was the second best performing measure, which was again consistent across both contexts.
the study, respondents were asked to evaluate their experience with both products, along seven points
hin these four items: "satisfied to dissatisfied", "favorable tounfavorable", "pleasant to unpleasant"
d "I like it very much to I didn't like it at all".

The third best scale was single-item percentage measure, a one-item 7-point
bipolar scale (e.g., Westbrook 1980). [10] Again, the respondents were asked to evaluate
their experience on both ATM services and ice cream restaurants, along seven points within
"delighted to terrible"

It seems that dependent on a trade-off between length of the questionnaire and

quality of satisfaction measure, these scales seem to be good options for measuring customer
satisfaction in academic and applied studies research alike. All other measures tested
consistently performed worse than the top three measures, and/or their performance varied
significantly across the two service contexts in their study. These results suggest that more
careful pretesting would be prudent should these measures be used.

Finally, all measures captured both affective and cognitive aspects of satisfaction,
independent of their scale anchors. Affective measures capture a consumer's attitude
(liking/disliking) towards a product, which can result from any product information or
experience. On the other hand, cognitive element is defined as an appraisal or conclusion on
how the product's performance compared against expectations (or exceeded or fell short of
expectations), was useful (or not useful), fit the situation (or did not fit), exceeded the
requirements of the situation (or did not exceed).

6 % interest on saving bank a/c.

Priviledge rates on term deposite account.
Free home banking.
No penalty on term deposite breaking before due dates.
Exclusive offers on women a/c.

Less exposure in rural banking.

Conservative approach in giving loan and credit facilities from other bank.

Opportunity :
Universal banking to cater mass affluent customers.
Customers who are not getting good facilities from other bank.
Exploring sub-urban and rural side of the country.

Compitetion from nationalized banks.

Competition from other private players who deals in mass banking and
ndfc's.

Chapter : 3
REASEARCH
METHODOLOGY
 RFSFARCH MFTHODOI OGY

INTRODUCTION
Research is an art of scientific investigation through search for new facts in any branch
of knowledge. It is a moment from known to unknown.
Research always starts with a question or a problem.lts purpose is to find
answers to questions through the application of the scientific method.
It is a systematic and intensive study directed towards a more complete
knowledge of the subject studied.
As marketing does not address itself to basic or fundamental question, it does not
qualify as basic research. On the contrary, it tackles problems, which seem to have immediate
commercial potential. In view of the major consideration, marketing research should be
regarded as applied research.
We may also say that marketing research is of both types problem solving and
problem oriented. Maiketing research is as systematic and objectives study of the problems
pertaining to the marketing of the goods and services. It may be emphasized that it is not
restricted to any particular area of marketing, but is applied to all the phases and aspects.
METHOD OF DATA COLLECTION

1) Data to be collected.
Data includes facts and figures, which are required to be collected to achiever the
objectives of the project. In order to determine the present position and satisfaction of
customer of kotak Mahindra Life Insurance.

a) Primary Data
The data that is being collected for the first time or to particularly fulfill the
objectives of the project is known as primary data.
These types of data were,
The market share of Kotak Mahindra Life Insurance.

The market share of other brands available in the market.

Responses of consumer.
Identifying pros and cons of the brand.

The above primary data were collected through responses of consumer was

conducted through questionnaires prepared for them.

b) Secondary Data
Secondary data are that type of data, which are already assembled
and need not to collected from outside. These types of data were
i) Company

Profile ii) Product

Profile iii) Competitors

Profile

The aforesaid data were collected through Internet and company s financial
 Report

.2) Data Collection Method

.2) Data Collection Method

For given project, the primary data, which needed to collect for the first time,
were much significant. This type of information gathered through Survey technique,
which is the most popular and effective technique for correct data collection. The survey
was completed with the use of questionnaires.

Questionnaire for consumer.

3) Sampling

Sample is the small group taken under consideration from the total group.
This small group represents the total group. In the project , which was ask to be studied
was delhi customers market but as it was possible to approach all the respondent s
customer of the city, hence a sample was selected which represents the whole city. The
areas selected for the sample are present further in the appendix. Sample size of
customer list was taken from Kotak Mahindra bank customer data basic.

4) Data Evaluation
After the data have been collected, the next task is to analyze them. I have
done the comparative analysis of the organizations that have been visited. These
organizations have been compared against the pre-decided parameters.

Væious Objectives for conducting the research and analysis are listed as under:

Study the impact of a customer centric approach being followed by the Bank, and
what is its benefit.
Study the services offered by Kotak Mahindra Bank and the customer's satisfaction
level of the same, and to access where the Bank has to improve.
Consideration of various promotional and marketing and advertising
strategies of
Kotak Mahindra to the satisfaction among its ultimate users and
consumers
Finally to draw the various conclusion and recommendations on the basis of the
study conducted on specifically taking to consideration the services, advertising
and marketing strategies of the Bank.
 SAMPLE SIZE

SILL.E.C¥ConductuLQiL5LRes.poudaut.s

The study of 50 Kotak Mahindra Bank respondents consisted of a majority of

customers who had been with the Bank for a reasonable amount of time. This is good as
these customers have had the opportunity to properly access the service level of the Bank,
and can compare their experiences of Kotak Mahindra Bank with banks they have
previously and are currently dealing with.
Out of the total respondents only 3% have been with the Bank for less than 6
months, the rest 97% have had the opportunity to know about the strengths and weaknesses
of the Bank.
Another inference that we can draw from this study is that couple of years the
Bank has been actively acquiring new customers as from the survey we can see that about
80% of the customers have opened their accounts during the past two years. The reason for
this could be that during the past two years the Bank has been able to convince many
prospective customers about the superior service it is able to offer in comparison to
competing Banks. Another reason could be that the customer base of the Bank has
increased due to sheer word of mouth of the Banks millions of satisfied customers.

The study could not be made that comprehensive due to time constraints. Some
customers feel uncomfortable to reveal some personal information relating to income etc. it
might have happened that some more essential information could have been collected.

Time constraint.
Biases and non-cooperation of the respondents.
Financial constraint.
Geographical selectivity in study limiting to Delhi city only.
 Chapter : 4
ANALYSIS AND
INTERPRETATIO
N
 ANALYSIS 1

Personal detail
Classes (Age) No of Respondents

18-24 4

24-35 19
35-45 16
45-55 8
55-65 3

ANALYSIS
Here majority of customer belong to the group 25-35 years.
12:07 3.12

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 OCCUPATION CUSTOMER RATIO
BUSSINESS

PROFESSIONAL

SERVICE 35%
STUDENT 150/0
OTHER

,YSIS 3

INCOME OF THE CUSTOMERS

INCOME RATIO
LESS THAN 1.5 LAKH

1.5 LAKH TO 3 LAKH 45%

3 LAKH TO 5 LAKH 25%
ABOVE 5 LAKH

INCOME Ι<ΑΤΙΟ

LESS ΤΗΑΝ 1.5 Ι.ΑΚΗ 200/0

1.5 LAKH ΤΟ 3 ΕΑΚΙ-Ι 450/0

3 Ι.ΑΚΙ-Ι ΤΟ 5 Ι.ΑΚΗ
ABOVE 5 LAKH

lsn-N41.5
Ι Ι.5Ι.αα-ΙΤΟ3Ι..ωα-
Ι ο 3Ι.ΑΟΠ5Ι-ωα•-Ι
More than 50% of the customers feels that services provided by the Bank are more satisfactory than other
Bank's product .
About 85% of Customers felt that the company is growing at a very fast rate.

About 85% of Customers felt that the company is growing at a very fast rate.

Around 54.5% of the customers felt that the market position of the company is becoming stronger but
the rest feels that company has to make more efforts.
 a-JSIOM

More than 90 customers felt that the infrastructure of the Bank is getting best.
More than 90 customers felt that the infrastructure of the Bank is getting best.
 CHAPTER : 5
GENERAL
FINDINGS
AND
SUGGESTIONS
 ATM Facilitv more widelv used lw customers helonsyinø to

Private/Foreign Banks as compared to Government Banks.

2. Customers value Efficient Service over every other aspect, this is far more important
than the number of ATM machines, Staff, Décor of Bank.

ATM Facility is more widely used by customers belonging to

3. Reputation of Bank is most important when it comes to choosing especially a Private

Bank.

4. The general perception is that Private Banks provides better services as compared to a
Government Bank.

5. People realize that Private Banks are as safe as compared to Government

Banks.

6. Advertisements and Freebies can be used to attract rmre customers.

Chapter : 6
conclusion
 CONC SI
I ON
I. Kotak Mahindra Bank is Leading Bank in the country, it provides a variety of
products and services to different segments of customers.

2. The Bank aims to serve customers from teenagers to senior citizens, hence different products
designed to suit specific requirements of the above.

3. Aims to serve all classes of the society from the salaried middle class to the high income
business class.
Customers are categorized and segmented according to their requirements and
needs.
For Example, the EDGE Saving Account aims to serve middle class customers so
minimum balance required to be maintained is Rs. 10000. While the PRO and ACE
Saving Accounts are targeted at high income customers, the minimum balance
requirement is Rs. 20000 and Rs. 75000.

4. Customers who are more profitable to the Bank (High Value Customers) are provided
special facilities. Priority Banking is meant to serve these high value customers.

5. The Bank prides itself with the ability to provide differentiate products in the crowed market
of saving accounts. Bank offers the free home baking, special cobranded debit cards (Smart
fill Debit Card) which makes its product unique.

6. The Bank is also involved in marketing activities which serves as a medium of

advertisement for the Bank. These are as follows:
Extended happy hours at certain pubs in Delhi for the Bank's account
holders. Gift Vouchers on making utility payments, such as cell phones, electricity
and MTNL bills.
Free Gifts like caps, pens/wollets to its customers. Free add-on cards for
relatives.

7. The Bank wants it's customers to transact more through Internet Banking and ATM, Rather
than the customers using the branch.

8. The Debit Cards provided by the Bank are Internationally Accepted around the world, hence
giving the customers the convenience to transact anytime, anywhere.

9. The Bank has tied up with other Banks so that it's customers can use other Bank's ATM
facility for free transactions
10. The Bank also provides DEMAT account and also sells Mutual Funds, this provides the
Bank and Government additional revenue.

l l . The Bank has been very successful in enlarging its customer base during the
last couple of years.

12. The Number One Reason of people choosing Kotak Mahindra Bank is the Brand
Name/Reputation of the Bank. Hence it should be careful that the Brand name and Goodwill
the Bank has earned is not diluted.

13. The Biggest competit01s of the Bank are ICICI Bank and HDFC Bank and STANDRAD
CHARTERED.

14. ATM Facility is most popular way to transact with the Bank.
15. Overall the customers appreciate the service and products offered by the Bank and are
willing to recommend the Bank to their acquaintances , But more attention has to paid
towards:
 Chapter : 7
REFERENCE
REFERENCE
There was immense need and flow of the information while conducting the analysis
as well as while writing the thesis report, which was gathered through various sources
mentioned below:
Various and
:
Outlook
Financial Times
The
Economic Times The
Times of India The
Hindustan Times

Other References :
Questionnaires, Journals, Broachers and various other documents gathered and
collected from bank and various other sources such as ATM centers and associates.

Internet
www. Kotak Mahindra
Bank. com www. Kotak Mahindra
Bank.co.in www.google.com
www.economictimes.com
 Chapter : 8
QUESTIONNAIRE
 QUESTIONNAIRE

NAME

ADDRESS

AGE
Below 25 years25 to 40 40 to 55
Above 55
years

OCCUPATION
Business Professional Service student Others

ANNUAL INCOME
Less than 1.5 Lakht03Lakh 3 Lakh to 4.5Lakh
Lakh

1. Do you hold a saving account?

Yes

2. If yes in which banks.

3. Out of the above accounts which do you use most frequently

4. Apart from saving in a bank account where do you invest your

money? Land/Property

5. Do you get an ATM/debit card facility from your bank?

6. How many times a week does you use your ATM/Debit Card?
Less than 2 time a week
2 to 4 times a week More
week

7. What is your most frequent point of interaction with the bank?

Visit
Branch
ATM
Phone Banking
Drop Box
Internet Banking

8.1)o you believe that Private/Foreign banks provide superior

services than nationalized banks?
No
9. Do you agree with the view that your money would be safer in a
nationalized bank rather than a foreign bank?
• Strongly Agree
• Agree
• Neither Agree nor Disagree
• Disagree
• Strongly Disagree

10. Are you influenced by advertisements in your choice of bank?

Yes

11. Do additional schemes/benefits (free insurance, free debit card,

privileges/discounts on use of debit card, etc.) offered by banks
have a bearing on your decision when you open a saving bank
account?
Yes No