[projects4mp]

EXECUTIVE SUMMARY

Customer satisfaction is a post purchase experience that a customer gets after consumption of products and services and becomes deciding factor for customer to make rational decision of repurchase and to recommend it to others.
But in a purely service industry service is provided, consumed and analyzed at the point of consumption of service. This study basically focuses on measurement of customer satisfaction related to Service offered and rendered at HDFC BANK.
This study gives a bird’s eye view of the hard and soft services provided by HDFC BANK (retail) to their clients.
Recommending the services, rating the experience with HDFC BANK, service charges and suggestions were some of the aspects explored. Rating the products, handling of compliant calls, response time, repeat calls encounter and overall level of satisfaction were some of the issues were also discovered.
To accomplish the task, a survey was carried in and around Mumbai city (retail outlets of HDFC BANK) with a sample of 123 respondents taken on a random basis approaching the customers who walked in during banking hours. A structured questionnaire was prepared and administered and the data so collected was analyzed both by percentages and statistical methods. Extensive use of SPSS (Statistical Package for Social Sciences) software was incorporated for getting the analytical report.
81% customers recommend HDFC BANK products, 91% of these are having good purchasing experience with the company.58% of the customers said that the maintenance charges charged by the company is moderate, 55%of which are having good purchasing experience and 85% of which recommend HDFC BANK to others.63% customers are satisfied with the existing services rendered by the organization. Majority (67%) of customers rated the HDFC BANK products as “good” and 67% of which are highly satisfied with the service of the company. The collected data was also analyzed to calculate the customer satisfaction for the different sets of respondent.
Is a satisfied customer asset for a company? Definitely not. Unless and until he becomes a loyal customer. Approximately 76% customers of HDFC BANK. are discovered to be loyal. This is the area where the organization can improve in the near future.
Researchers by their ability have provided some measures to convert a satisfied customer into a loyal customer.
SUGGESTIONS: E-mails can be used effectively for disseminating information among customers. Since application of this is most cost effective, the organization can mail the required information to their customer.
This study is an earnest effort to enhance the practical knowledge by measuring the customer satisfaction as well as contributing to the organizational efficiency by suggesting ways to manage and improve the same profitably in the highly competitive time to come.