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A STUDY ON CONSUMER BEHAVIOUR WITH RESPECT TO
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A STUDY ON
WITH RESPECT TO
Project guide:
Professor, Nihar Nanavati.
Professor, Saurin Shah.
Professor, Smit Shah.
SUBMITTED TO:-
L.J INSTITUTE OF BUSINESS ADMINISTRATION,
VASTRAPUR,
AHMEDABAD, 380015.
SUBMITTED BY:
Name RollNo. Name RollNo.
Sakariya Binal 81 Bhoraniya Tarannum 12
Patel Bijal 56 Patel Suhani 67
Shah Bhavi 89 Panchal Ekta 51
Shah Khushbu 90 Sanghvi Mansi 83
Patel Sonam 66 Pathan Nazneen 71
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CERTIFICATE
This is to certify that we the students of
have submitted this project report based on comparative
analysis to L.J. Institute of
Business Administration afficiated to Gujarat University for the year 2010-
11 in fulfilment of Gujarat University requirements for the completion of thepractical studies during the third year BBA programme and for the award
Business Administration.
Name RollNo. Name RollNo.
Sakariya Binal 81 Bhoraniya Tarannum 12
Patel Bijal 56 Patel Suhani 67
Shah Bhavi 89 Panchal Ekta 51
Shah Khushbu 90 Sanghvi Mansi 83Patel Sonam 66 Pathan Nazneen 71
For, L. J. Institute Of Business Administration
Director Project Guide External Evaluation
------------------ -------------------- -----------------------
Place: - Ahmadabad
Date :-
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This is a project on Comparative Analysis-Western union & Money
transfer services, prepared on comparison of varied money transfer services. It
also aims to know preferences of consumers for an ideal money transfer
service provider. All these companies are well known that are engaged in the
service sector and has a considerable hold over the market in the National and
International level also.
It was very interesting for us to study & analyse the Comparative
Analysis between the Western Union & money transfer services which has
considerable amount of employees as it is engaged in the services sector.
It was very interesting to study & analyse the consumers preference
and then prepare a project report, analyzing the consumer behavior as we are
also a part of the general mass. It was the first time that we had to perform a
market survey to know their preference.
Experience is the best teacher This saying has played a guiding role
in comparative study and analysis as a part of the curriculum of the B.B.A.
programme of Gujarat University. This survey & the consequent report on it
allow the student to practically understand and experience the market and
study the real business environment.
This practical training at BBA programme develops a feeling abut the
difficulties and challenges in the real business world. Only theoretical
knowledge does not impart complete education, practical experience must
accompany theoretical knowledge to add meaning to education. To fulfill the
objective study of Consumer Behavior is a part of B.B.A. programme.
In this direction, we have tried our level best to present a Project
report based on the comparative study on Western Union and money transfer
services provided by various money transfer companies. We hope that, you
will find this project, worthy enough to describe various aspects on different
money transfer companies.
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The successful completion of this pepobt would not have been possible
without co-operation and support of our teachers, friends and the institute.
We are thankful to the management for providing us the opportunity to study
the practical training in their organization.
We express our sincere thanks to the consumers for their valuable response.
Which allowed us to guide us during the preparation of the project report?
We are also thankful to Without their
valuable support the training was not made possible and who provided full
guidance, co-operation and valuable suggestion about the project report.
We are obliged to the companies and all the managers, chief executives and
other personal of the company who heartily provided the information about by
answering our questions.
We are thankful to our college friends and all those who have helped us
directly or indirectly in preparing the project report.
With thanks..
Place:_________
Date:__/__/____.
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NO PARTICULARS PAGE NO.
1. Certificate 2
2. Preface 3
3. Acknowledgement 4
4. Problem statement 6
5. Objective of study 7
6. Macro information 107. Micro information 25
Western union 26
SBI 44
Money Gram 47
Thomas Cook 51
HDFC 55
Competitor 58
8. Questionnaire of service provider
9. Questionnaire of consumers
10. Analysis of service provider
11. Analysis of consumers
12. Research methodology
13. Utility of research
14. Limitation of study
15. Observation
16. Findings Of service provider
17. Findings of consumer
18. Suggestion
19 Bibliography
20. Declaration
21. Appendix
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22. Conclusion
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Since years ago people use barter system for exchanging things to satisfy
their needs before invention of money.
After invention of money people hire agents for providing money to their
love once. In Guajarati they known asAANGDIYA.
After some years people transfer their money by transportation like by
road, by water, by air.In Morden trend after invention of new technology people transfer money
to their love once by mobile, master cards etc.
Now a days people prefer to transfer money through internet, net banking
etc.
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For a common man or in a general term,comsumer behaviour implies
consumers attitude towards buying of commodities.
According to Walter & Paul, consumer behaviour is the process whereby
individual deciding whether, what, when, where, how, from whom to purchase
goods & services.
According to G.B.Giles, a vital factor in marketing is to satisfy the customer to
leave him with the feeling after selling transaction has been completed, that
the seller has rendered a valuable service which the buyer will be glad to use it
organisation.
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Businesses and individuals need to send money to distant places for manyreasons, including to pay debts, make purchases or simply to send funds to a
family member who's short on cash. Whatever the reason, money transfers
provide a fast and secure means of sending money.
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Money Transfer Services refer to services in which money or funds can be
transferred from one location to another with the help of several of methods.
A large number of reputed companies offer a variety of money transfer service
to customer.
The methods are quick, dependable, and easy to process, with which money
can be sent or received all over the world without any hassles; the sending
payments or purchasing money orders have never been so easy. Nowadays,
the Internet has also become a highly popular method for transferring money
and has services that are quick, affordable, and safe in comparison to other
conventional methods.
A money transfer is an order placed with a financial institution or wire-transfer
service provider such as Western Union to disburse funds a person has
provided to anotherparty. Banks and wire-transfer providers have networks of
affiliated financial institutions or agents worldwide that complete the
requested transfer of funds on a person's behalf, usually for a modest fee.
Today the majority of money transfers are carried out by electronic funds
transfer (EFT) usingthe Internet.
The main advantages of money transfers today remain the same as those in
1837. Wire transfers are fast and secure; electronic funds transfer has only
made these advantages greater. Low cost is another benefit. Providers such as
Western Union charge modest fees, and electronic funds transfer using one's
own bank account is often free. For creditors who have a problem debt, using
a service such as Western Union Quick Collect provides added security, since
the company will authorize the transfer only when the money has actually
been paid.
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Money Transfer Company is that type of a
company which provides a comprehensive variety
of money transfer services. With the help of money
transfer companies, money can be sent to any location of the world without
any hassles.
Money transfer companies help their customers in many ways through their
products and services, which include consumer to consumer money transfer,
money orders and other types of business facilities.
Sending payments or money orders with the help of money transfer
companies have never been so convenient. Money transfer companies carry
out their business operations with the help of their network agents.
The process of transferring money from one location to another is quick,
dependable, as well as easy to perform. At present, the internet is playing an
important role in the money transferring business. Money transfer companies
use internet as a medium for overseas money transfer processes because it is
secure, quick and cheap when compared with other traditional money
transferring methods.
Nowadays, most of the money transfer companies are implementing online
money transfer processes. In this process, money can be transferred over the
internet by using debit cards or credit cards. Online money transfer has
become one of the most common methods of money transfer business and it
is used for making payments abroad for any goods purchased or to send
money to any person overseas. The processing is fast (maximum 1-2 days).
Various money transfer companies (including credit card companies issuing
VISA and MasterCards) are providing money transfer services over the
internet.
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The leading money transfer services companies include the following:
One way to transfer money is to pay the funds (plus a fee) to a third-party
provider. For example, a person might pay cash to a Western Union agent and
send instructions to "wire the money" to a friend in a distant city. This can be
done online or in person at a store that acts as an agent (see Resources). The
use of online money-transfer services such as PayPal is also very common.
Another method is to authorize a direct transfer of funds from a bank account
to another bank account. A person may do this in person at a bank or by
phone, but the most common method is to simply execute the transferpersonally using online access to one's bank account.
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There are two major types of money transfers. A business or individual may
authorize a money transfer through a bank. The most common alternative is
to pay the money to a third-party provider like Western Union or PayPal and
indicate where the money is to be sent. A third form of money transfer using
email is employed by the five largest Canadian banks, but this method is
generally avoided elsewhere because of concerns over the security of email
communications.
The different methods used for the purpose of funds transfer by money
transfer companies include followings:
Electronics Funds Transfer (EFT) Wire Transfer Giro Email Money Transfer Walk-in Money Transfer Service Telephone Money Transfer Service Payout Services Online Money Transfer Service Money Orders Prepaid Cards and Services
There are main four different types of money transfer services available:wire
transfer, bank draft, Internet money transfer, and money orders. All these
methods can be used both domestically and internationally. A money transfer
service is used to quickly provide funds to both businesses and individuals.
They are typically used in situations where a check would take too long, maynot be accepted or where the recipient does not have a bank account.
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A check drawn by one bank against funds deposited into its account at
another bank, authorizing the second bank to make payment to the individual
named in the draft.
Abank draftis a written order in the form of a check instructing the payment
of money from one bankaccountto another. The bank draft is drawn by one
bank against funds that it has deposited in an account at a second bank. The
first bank is giving its consent for the second bank to release funds or make
payment to the individual named on the bank draft. A bank draft is usually
more acceptable to a payee than a personal check. Other terms for bank draftare draft, bill of exchange, and order of payment, banker's draft and negotiable
instrument. A bank draft is similar in form to the common bank check.
Frequently, a bank draft is used to transfer funds and to settle outstanding
balances between banks.
A bank draft is a type of money transfer service most commonly used for
payments to companies in foreign countries. A bank draft is issued by a bank or
money transfer company and is cashable at any banking institution. This
method of paymentis more expensive than other methods, but is preferred bycompanies and large institutions due to additional security and audit trail
features.
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Financial instrument, issued by a bank or other institution, allowing the
individual named on the order to receive a specified amount of cash on
demand. Often used by people who do not have checking accounts. One of the
main benefits of a money order is that it is more trusted than a personal check,
because it is prepaid. Money orders can be obtained at many locations,
including a post office, grocery store, or bank, and may require a small fee.
Several specialized firms offer money orders as one of their money transfer
services. The sender goes to the cash office and creates a money order for a
specific cash office and person to pick up. The recipient is notified by the
sender and is responsible for going to the cash office and picking up the funds.
A secretpasswordis often used to validate that the correct person is receiving
the money order.
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Internet money transfer services have increased in
Popularity as security has improved. Several large companies specialize in this
type of service. Funds can be transferred to anyone with an emailaccount in
the world and is available is all recognized foreign currencies. Transfers can be
created through a third party, or directly from the senders bank account.
Third party companies usually provide a free basic account set up, but charge a
transaction fee for every transfer of funds to your bank account. In addition,
there is a processing delay of between five to seven days to receive the funds
in your bank account. If you are going to use this type of service, check the
reputation and conflict resolution steps first.
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ONLINE TRANSFERS:-
There are many online businesses that allow you to transfer money from your
bank account or credit card and to another person. You have to sign up for an
account via the company's website and the receiver must also have access tothe Internet and an account. In most cases, both users will need a bank
account and an email address. Examples of this kind of online business are
PayPal, Exchange4free or Money bookers.
How it works?An Email Money Transfer resembles ane-checkin many respects. The money is
not actually transferred by e-mail. Only the instructions to retrieve the funds
are.
The sender opens anonline bankingsession and chooses the recipient, the
amount to send, as well as a security question and answer. The funds are
debited instantly, usually for a surcharge.
An e-mail is then sent to the recipient, with instructions on how to retrievethe funds and answer the question, via a secure website.
If the recipient is subscribed to online banking at one of the participating
institutions, the funds are deposited instantly at no extra charge.
If the recipient's deposit account is not at one of the participating
institutions or not subscribed to online banking at all, the funds are
deposited within three to five business days, and a surcharge (currently
$4.00) is deducted from the amount received.
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These are like the traditional debit card but can be sent to the recipient
anywhere in the world. The sender can deposit money onto the card at any of
the corresponding agencies for a very small fee of approximately $5 to $10.The recipient only has to go to any ATM machine and withdraw the money
deposited to him, or he can use the card in grocery stores, shops and
convenience stores. Only the amount of money placed on the card can be
spent. These cards can be purchased at a money transfer agency, convenience
stores, retailers such as Walmart or Target, or online from a financial
institution. Money can be redeposited at these same locations.
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Today, consumers have a variety of ways to send and receive funds or money
transfers. Although using cash to send a money transfer is the most popular
method for most people, more and more people want additional options: tosend and/or receive funds on the internet, over the phone, and now, on their
mobile phones.
Mobile money transfer is simply another way to send money. It is a transfer of
money to a receiver in which the funds are deposited into a mobile or virtual
wallet.
Send and receive funds via a mobile phone:
Western Unions service will offer several variations and is unique in
offering consumers options in how they send or receive funds over the mobile.
Consumers can send funds:
Cash-to-mobile: A consumer initiates a money transfer by submitting cash
at a Western Union Agent location. The funds are sent to a receiver whose
mobile operator offers mobile money transfer in partnership with Western
Union. Funds are deposited into the receivers mobile wallet, or account
tied to the mobile phone.Mobile-to-cash: A consumer whose mobile operator offers mobile money
transfer in partnership with Western Union uses his/her phone to send a
cross-border money transfer. The sender notifies the receiver via SMS or
phone that the funds have been sent and provides the MTCN. The receiver
then picks up the funds at a Western Union Agent location.
Mobile-to-mobile: A consumer whose mobile operator offers mobile
money transfer in partnership with Western Union uses his phone to send a
crossborder money transfer to a receiver whose mobile operator also
offers mobile money transfer in partnership with Western Union. The funds
go directly into the receivers mobile wallet, or account tied to the mobile
phone.
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Company Type Public
Headquarters
Fiscal Year-End December
2009 Employees 6,800
For more than 150 years, the familiar signs of Western Union have stood
as a trusted symbol for connecting friends, family and businesses around
the world.
Known today as an innovator in financial services, The Western UnionCompany has become an industry leader in global money transfer with
approximately 430,000 Agent locations in 200 countries and territories.
From the roots of our signature telegram business, we expanded and
evolved our services in 1871 to offer electronic money transfer. Today,
Western Union offers money order, money transfer, payment and
prepaid services. While the telegram is a memory, we continue a long
history of connecting people around the corner and around the globe
with financial services that are fast, reliable and convenient.
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1851
Western Union was founded in 1851 as the New York and Mississippi
Valley Printing Telegraph Company
1856
The company changed its name to Western Union in 1856 to mark the
consolidation of several telegraph lines in what was then the Western-
most reaches of the American telegraph system
1861
Western Union completed the first transcontinental telegraph line
across North America in 1861
1869
The first successful stock ticker was introduced by Western Union in
1869
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1871
Western Union introduced money transfer in 1871
1884
Western Union was one of the original 11 stocks included in the first
Dow Jones Average in 1884
1896
In 1896, Western Union provided service to Europe, Northern Africa,
North and South America, Australia and Asia
1914
In 1914, Western Union introduced the first consumer charge card
1933
In 1933, Western Union delivered the first singing telegra
1943
Western Union pioneered the first commercial inter-city microwave
communications system in 1943
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1974
The first commercial satellite in the U.S. was introduced by Western
Union in 1974
1980
In 1980, revenue from the money transfer service exceeded telegram
service revenue for the first time in Western Union history
1993
In 1993, Western Union introduced the first prepaid, disposable
telephone card
2001
Celebrating its 150-year anniversary in 2001, Western Union expanded
to more than 100,000 Agent locations worldwide
2006
In 2006, The Western Union Company handled 147 million consumer-to-
consumer money transfers and 249 million consumer-to-business
transactions
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Their mission is to deliver your money in a Fast, Secure and Reliable way
while also providing better value for your money.
To provide faster money transfer in India and throughout the word;
to be recognized as an efficient and excellent organization exceeding
the expectation of the customers, employees and the society; to
perform the task by:
Total devotion to providing efficient & reliable services, which
customers consider to be value for money.
Total recognition of the responsibilities as a part of the social,
industrial and commercial life of the country.
Total dedication to understanding and fulfilling customers needs.
Total commitment to providing challenging and rewarding career for
every employee.
Total enthusiasm to be forward and innovative in all areas.
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They do business each day with absolute integrity, honesty and
passion, partnering as a team to meet their consumers' needs.
The values that matter most to their employees shape the core
values of Western Union. They are a part of the fabric of their day-to-
day work experience and demonstrate behaviours that foster a
positive, inclusive and engaging company culture.
Their values define who we are and what we stand for as a company.
Living these values is at the heart of all that they do, and isdemonstrated every day in our interactions with consumers,
colleagues and the global community.
They do business each day with an absolute commitment to ethics,
honesty and credibility. Their employees and Agents foster trust, so
their consumers are confident their transactions are fast and reliable.
Their partnerships with employees, Agents and organizations that
support our business are critical to their success. These partnerships
enable us to better understand our consumers in order to deliver
services that meet or exceed their needs and their shareholders'expectations.
They develop their people through new opportunities and challenges;
we recognize and reward high performers; they embrace diversity
and varied perspectives; and they respect the commitment their
people make to their business, their families and society.
They are passionate about their business, doing the right thing for
their people and proud to enable their consumers to achieve their
dreams. They lead by example in giving back to the communities they
serve and improving their world.
They are one team, working together for one world. They have a
dynamic and inclusive work environment where their people share
the desire to win.
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STRENGTH
Western unions do business each day with an absolute commitment to
ethics, honesty and credibility. Their employees and agents foster trust,
so their consumers are confident. Their transactions are fast and
reliable.
The western union company handled 147 million consumer-to-consumer
money transfer and 249 million consumer-to-business transactions.
WEAKNESS
As per the consumer survey we observe that prices charge by westernunion is higher than other money transfer service provider.
OPPORTUNITY
Western union company develop their people through new opportunity
and challenges. They recognize and reward high performers. They
embrace diversity and varied perspective, and their respect. They
commitment their people make to their business, their families andsocieties.
THREATS
One of the most threats is its competitors.
American express company New york
Money gram international Minneapolis
Pay pal inc. San jose
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SEND
SENDING MONEY from an Agent Location:
With the Western Union Money Transfer service, you can send money quickly
from over 305,000Western Union AgentLocationsworldwide. Sending money is
convenient and generally all you need to do is:
Visit a Western UnionAgent location.
NOTE: This service may not be available at all locations.
Fill out aTo send moneyform.
Provide payment to the clerk in cash including the amount to be sent andappropriate fee(s). Identification is required.
Western Union agent registers the data on the system. The agent provides
Money Transfer Control Number and a copy of the form.
Give the MTCN to the person picking up the funds for extra convenience
http://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.unionifinanciar.com/dergese.pdfhttp://www.unionifinanciar.com/dergese.pdfhttp://www.unionifinanciar.com/dergese.pdfhttp://www.unionifinanciar.com/dergese.pdfhttp://www.unionifinanciar.com/dergese.pdfhttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=true -
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CHECK THE STATUS OF YOUR MONEY TRANSFER:-
To find out if the money you transferred has been picked-up; you can use our
onlineMoney Transfer Trackingservice.
RECEIVE
RECEIVING MONEY at an Agent Location Union:
With over 305,000 Western UnionAgent locationsworldwide, receiving money
quickly is always convenient. Generally all you need to do is:
Visit your nearest Western Union Agent location. Fill out aTo receivemoneyform, and the Money Transfer Control Number.
Fill out on the form the approximate amount you will receive, the Senders
name and the originating country.
Present a valid identification document to the clerk.
In few minutes receive the money. Western Union Agent provides money
and a copy of the money transfer form.
https://wumt.westernunion.com/asp/orderStatus.asp?country=ALhttps://wumt.westernunion.com/asp/orderStatus.asp?country=ALhttps://wumt.westernunion.com/asp/orderStatus.asp?country=ALhttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.unionifinanciar.com/terheqje.pdfhttp://www.unionifinanciar.com/terheqje.pdfhttp://www.unionifinanciar.com/terheqje.pdfhttp://www.unionifinanciar.com/terheqje.pdfhttp://www.unionifinanciar.com/terheqje.pdfhttp://www.unionifinanciar.com/terheqje.pdfhttp://www.unionifinanciar.com/terheqje.pdfhttp://www.unionifinanciar.com/terheqje.pdfhttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttps://wumt.westernunion.com/asp/orderStatus.asp?country=AL -
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Western Union does so much more than simply send money. Every day they
help people connect with loved ones around the world by offering a fast,
reliable and convenient means of transferring money.
Under its Western Union, Orlandi Valuta and Vigo brands, The Western Union
Company provides consumers fast, reliable and convenient ways to send and
receive money around the world, as well as send payments and purchase
money orders. They operate through a network of approximately 430,000
Agent locations in 200 countries and territories.
Consumer-to-consumer
Connect with loved ones throughout the world by sending your support
through Western Union.
Consumer-to-business
Simplify your everyday life by sending utilities, car loans and mortgage
payments through Western Union.
Business-to-business
Custom House allows you to make international payments, receive foreign
currency and protect your business with currency risk management services.
Other services
Enhance your financial management with money orders, prepaid cards, and
other financial services from Western Union.
Walk-in money transfer service
More than 90 percent of our transactions are still done in person where
consumers receive the attention and expertise of an Agent clerk. The Agent
clerk collects cash from a consumer and within minutes, payment is available
for pick-up at an Agent location convenient to the receiver. In the United
States, many Agent locations also accept debit cards to initiate a transaction.
We are continually developing convenient and customized solutions for
consumers in a variety of regions.
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Online money transfer service
Their transactional Web site allows consumers to send funds online using a
credit or debit card. Additionally, consumers can conveniently check the status
of their transfer online.
Telephone money transfer service
Their Telephone Money Transfer service allows consumers to send funds by
telephone without visiting a Western Union Agent location. Consumers may
call a toll-free number in the United States or the United Kingdom and use a
debit card or credit card to initiate a transaction. The money transfer is then
available for pay-out at a participating Agent location.
Mobilemoney transfer service
They are working with mobile phone operators in select countries to introduce
money transfers that consumers can send and receive with a cell phone.
Recently, they announced three mobile operators that will participate in this
initiative expected to extend the benefits of financial services to many of the
world's families for the first time. The first commercial services began in the
second quarter of 2008.
Payoutservices
Receivers can typically pick up available funds within minutes of the sender
completing a transaction. In some countries, funds can be sent for next-day
payout, bank account delivery or loaded to a stored-value card. In a number of
countries in Latin America and the Caribbean, Western Union Agents offer a
bank deposit service, in which the paying Agent provides the receiver the
option to direct funds to a bank account or to a stored-value card. Vigo also
offers Direct to Bank and home delivery service in certain countries.
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Western union money transfer
The Western Union Money in Minutes service allows consumers to move
money to 200 countries and territories generally in minutes, and their recipient
can pick it up at one of over 430,000 Agent locations worldwide.
Western union bill payment
The Western Union Quick Collect Bill Payment service helps consumers make
urgent and routine bill payments. With over 5,000 direct biller relationships
across multiple industries, including mortgage, auto finance, credit card,
insurance, and telecom, your customers are covered.
The western union advantage
With Western Union, your financial institution can:
Provide money movement solutions that your customers want and
appreciate.
Product differentiation can help you to add new revenue streams and
improve the competitive position of your financial institution.Team up with a market leader and trusted provider known locally as well
as around the globe.
Enhance current customer relationships.
Integrate these services at your choice of multiple consumer channels
(retail branches, online, call centers).
Other services
Their other services enhance our portfolio and provide consumers andbusinesses with additional convenient financial tools.
Western Union is a trusted source not only for money transfer and bill
payment services, but also for money orders, prepaid cards and other financial
services. Their Agent network offers these other services that allow their
consumers to conveniently manage their finances.
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Money orders
Money orders are a reliable payment choice for those who may not have
checking accounts. They can be used for making purchases and paying bills,
and can be deposited directly into bank accounts or cashed at check cashiers,some banks and some retailers. Money orders can be purchased at
participating Agent locations in the United States and Canada.
Prepaid cards and services
The Western Union Prepaid MasterCard card is sold through our Agent
network primarily in the United States and on the Internet. This service allows
consumers to load money or receive a direct deposit from their employer onto
the card for use at a later date. The card can be used to withdraw money froman ATM or shop online anywhere MasterCard debit cards are accepted.
In addition to debit cards, Western Union enables consumers to pre-pay for
mobile phones, Internet access and other services. These top-up services
allow consumers to store value with service providers that can be accessed by
the consumer in the future.
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They strive to meet our consumers expectations. They remain competitively
positioned in a fast-growing worldwide market.
At Western Union, leadership takes more than the latest technology to quickly
send money and connect millions worldwide. It takes a team of dedicated
people who understand the evolving needs of consumers, while maintaining
the integrity of our promise to provide convenience, trust and reliability. Our
company leaders continue to build upon our heritage and live our values as we
adapt our business to the needs of the marketplace.
REDUCE
At our corporate headquarters:
We use low-energy light bulbs that are recycled in accordance with EPA
standards and we are in the process of installing motion sensors on office
lighting.
Automatic water saving faucets and toilets has been installed.
We provide indoor and outdoor bike parking, support an annual bike to work
day and have locker room facilities to encourage employees to reduce
greenhouse emissions by biking to work. In 2010 we were recognized by Bike
Denver as a "Bicycle Friendly Business."
We have applied a power-saving policy to hundreds of desktop computers,
which puts such computers on sleep mode when they are not being used
outside regular office hours. We are in the process of adopting this policy
globally.
Company-wide:
We have installed power tracking software on all computers.
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Every day, The Western Union Company works with our Agent network of
approximately 435,000 locations to help people all over the world realize their
dreams.Western Union has a history of adapting our business to meet the changing
needs of the people we serve. So as more of our consumers continue moving
to more places around the world, our Agent relationships have never been
more important.
The relationship between a consumer and their Western Union Agent is a
special one. Our Agents' deep understanding of the communities they serve
comes from the fact that they live in these communities themselves. Our
strong Agent relationships are the primary reason our Western Union Gold
Card loyalty program has more than 11 million active cards operating in 2008.And their long tenure with Western Union gives them the knowledge and
insight to create customized solutions on a local basis. We continually look to
implement new strategies that will allow our service, our technology and our
Agents to have an even greater impact in our communities.
Their aim to empower our clients with the tools and knowledge they need to
make informed decisions.
They work with their clients to ensure that we understand their unique
business needs. Whether you require an online payment solution or
personalized support to help guide you through the world of foreign exchange,
their deep industry expertise and distinguished service portfolio enable you to
make international payments and manage currency risk with confidence.
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Companies Location
American Express Company New York, NY
Money Gram International, Inc. Minneapolis, MN
PayPal, Inc. San Jose, CA
http://www.hoovers.com/company/American_Express_Company/rffxhi-1-1njg4g.htmlhttp://www.hoovers.com/company/American_Express_Company/rffxhi-1-1njg4g.htmlhttp://www.hoovers.com/company/MoneyGram_International_Inc/rfjtyhi-1-1njg4g.htmlhttp://www.hoovers.com/company/MoneyGram_International_Inc/rfjtyhi-1-1njg4g.htmlhttp://www.hoovers.com/company/PayPal_Inc/jrytri-1-1njg4g.htmlhttp://www.hoovers.com/company/PayPal_Inc/jrytri-1-1njg4g.htmlhttp://www.hoovers.com/company/PayPal_Inc/jrytri-1-1njg4g.htmlhttp://www.hoovers.com/company/MoneyGram_International_Inc/rfjtyhi-1-1njg4g.htmlhttp://www.hoovers.com/company/American_Express_Company/rffxhi-1-1njg4g.html -
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In the old days, moving money usually meant physical movement of the moneyitself. A person would usually carry the money and travel to where the
recipient is located. Another method is to insert the money in a sealed
envelope and have it delivered by post.
SBI Money Transfer can be done anywhere, even from the comforts of our
own home. SBI has a secure website where we can learn and access all the
services they provide. SBI Money Transfer online transactions are secure. It
will require us to have an authenticated account in which the client who
wishes to avail of the SBI Money Transfer service will be required to login tothe portal.
Getting started with SBI Money Transfer is easy. You just need to perform a
one-time registration which will save you the time and effort of providing
identification for each SBI Money Transfer transaction. A network of credit
facilities across 3000 branches and the capability to send money to an account
with any bank.
SBI Money Transfer service is easy, fast and most of all, safe.
To be a lead niche bank for comprehensively meeting the entire banking
requirements of our customers in a competitive manner with services of
international standards and to act as a bridge between India and Indonesia to
facilitate the bilateral trade and investments.
To provide complete range to banking facilities to their customers backed by
latest technology and high services standards, to help increase their
competitive edge and reach in domestic and international markets. To provide
information, leads and banking facilities to Indian investor as well as our
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domestic customers to facilitate profitable exchanges in bilateral trade
and investments.
Instant Transfer
SBI Express Remit
SBI Express
SWIFT / Wire Transfer/TT
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Money Gram International offers Financial Services, Money Transfer andMoney Order products and services to consumers through a network ofagents
and financial institution customers. The Travelers Express Company, Inc.,
which has been in operation since 1940, acquired Money Gram Payment
Systems, Inc. in June 1998 from American Express. The business was
incorporated in December 2003 in connection with the 2004 spin-off from its
parent company, Viad Corporation, and is now known as Money Gram
International.
On August 3, 2009 Money Gram International, Inc. signed an agreement with
Affinity Global Services a Dallas, TX provider of wireless payments technology,
to allow for money to be transferred via mobile devices. "In developing
economies, there are more people with mobile phones than traditional bank
accounts. We see a tremendous opportunity to better serve these consumers
by delivering Money Gram remittances in compelling new formats such as
mobile technology," said Anthony Ryan, Money Gram president and CEO
Money Gram is a leading global payment services company. Their mission is to
provide consumers with affordable, reliable and convenient payment services.
They offer their products and services to consumers and businesses through
our network of agents and their financial institution customers. Their businesshas been in operation since 1940. In the last six years, we have added
important new products and services and have expanded their business
domestically and internationally.
They believe that their success across both of their business segments results
from a combination of key assets and competencies, which form the
foundation for their current business and for their future growth. These
http://en.wikipedia.org/wiki/Agent_%28law%29http://en.wikipedia.org/wiki/Agent_%28law%29http://en.wikipedia.org/wiki/Agent_%28law%29http://en.wikipedia.org/wiki/Financial_institutionhttp://en.wikipedia.org/wiki/Financial_institutionhttp://en.wikipedia.org/wiki/American_Expresshttp://en.wikipedia.org/wiki/American_Expresshttp://en.wikipedia.org/wiki/American_Expresshttp://en.wikipedia.org/wiki/Financial_institutionhttp://en.wikipedia.org/wiki/Agent_%28law%29 -
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competencies include:
Strong value proposition.
Advanced proprietary technology.
Broad consumer recognition and consumer loyaltyExtensive domestic and international retail agent network
Strong relationships with agents and financial institution customers. In
both their operating segments we have long-term contracts agents and
financial institutions.
Transferring Money On-line
EMoney Transfer Same Day Service
EMoney Transfer Economy Service
Transfer Money Overseas
To transfer money from overseas, the following methods are usually
implemented:
Electronic Funds Transfer (EFT)
Wire Transfer
Giro
Email Money Transfer
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GOVERNMENT CLIENTS
CORPORATE CLIENTS
ORGANIZATIONS / NON PROFIT
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Established in 1841, today Thomas Cook provides services at more than 3,000
locations in more than 100 countries, and employs over 14,000 people who
service some 20 million customers a year. With two core business lines-Travel
Related Services and Financial Services- Thomas Cook is the world's largest
supplier of travelers cheques outside the U.S. and owns the world's largest
network of foreign exchange bureaux.
"They are delighted to add Money Gram International money transfers to
their new branches as it helps them provide a bouquet of services to their
existing customer base and also helps attract new customers," said Mr
Madhavan Menon, Managing Director, TCIL
Thomas Cook (India) operates in the following areas of business, namely:
Leisure Travel, Corporate Travel Management, MICE, Foreign Exchange,
SWIFT Network, Travel Insurance, Credit Cards, Pre-Paid Cards, Life Insurance
and E-Business.
Money Gram International Ltd., which will focus sales efforts on identifying
new agents such as bureau de change, banks and related financial institutions
and retailers in major worldwide locations, is owned 51 percent by Money
Gram Payment Systems Inc. and 49 per cent by Thomas Cook. It will utilize
the Thomas Cook sales force to contact and reach agreements with new
Money Gram agents.
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Exceptional Service from Exceptional People.
Taking Personal Responsibility For Achieving the Mission
Pursuing Excellence in Everything they do Displaying Honesty and
Trust in all our Relations with Customers to deliver outstanding
service to them at all times minimizing and respecting the needs
of individual.
The companies currently have an agreement under which Thomas Cook is
an agent for Money Gram money transfer services throughout the Thomas
Cook worldwide retail network.
:
Wire transfer
Bank draft
Internet
Money order
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Individual travellers:
Foreign exchange for leisure outbound travellers Foreign Exchange for migration, employment, medical treatment Remittances for students studying abroad, gift remittances etc Encashment services & inward remittances for inbound tourists
visiting India, Non Resident / Resident Indians.
Corporates: Travel money and remittances for business travellers. Onsite support for inbound tour conferences. Film production houses travelling for shoots abroad. Remittances of tour proceeds for tour operators.
Institutions: Bulk purchases and sales of foreign currencies from Banks, Non
Bank Retailers and Money Changers. .
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Housing Development Finance Corporation Limited, more popularly known asHDFC Bank Ltd, was established in the year 1994, as a part of the liberalization
of the Indian Banking Industry by Reserve Bank of India (RBI). It was one of the
first banks to receive an 'in principle' approval from RBI, for setting up a bank
in the private sector. The bank was incorporated with the name 'HDFC Bank
Limited', with its registered office in Mumbai. The following year, it started its
operations as a Scheduled Commercial Bank. Today, the bank boasts of as
many as 1412 branches and over 3275 ATMs across India.
Our mission is to be a World Class Indian Bank, benchmarking ourselves
against international standards and best practices in terms of product
offerings, technology, service levels, risk management and audit & compliance.
The objective is to build sound customer franchises across distinct businesses
so as to be a preferred provider of banking services for target retail and
wholesale customer segments, and to achieve a healthy growth in profitability,
consistent with the Banks risk appetite. We are committed to do this while
ensuring the highest levels of ethical standards, professional integrity,
corporate governance and regulatory compliance.
To be a progressive bank with strong brand equity, enhancing value for all
the stake holders through excellence in performance and good governance.
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:
India LinkCheque Lock Box Quick RemitTelegraphic Transfer
Travellers Cheques.
Foreign Currency Cash.
Foreign Currency Drafts.
Cheque Deposits.
Remittances.
Cash to Master.
Trade Services.
Forex Services Branch Locator.
Important guidelines and schedules.
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COMPETITORS
WESTERN UNION
ICICI BANK
HDFC BANK
AXIS BANK
UNION BANK
MONEY GRAM
FEDEXSBI BANK
THOMOS COOK
CITI BANK
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QUESTIONNAIRE - MONEY TRANSFER SERVICE PROVIDERA STUDY ON CONSUMER BHAVIOUR WITH RESPECT TO WESTERN UNION & OTHER
MONEY TRANSFER SERVICE PROVIDERS
Name of service provider : -...............................................................................................
Name of manager : -..............................................................................................
Address : -........................................................................................
..............................................................................................
Contact No. : ...........................................................................................
Area of operation : ..........
1. Since when you been into this business?
A. < 3yrs C. 5 to 10
B. 3 to 5 D. > 10 yrs
2. How May branches do you have across India?
A. Up to 100 B. Up to 200
C. Up to 500 D. More than 500
3. What are your destinations for delivery?
A. International B. National
C. Both
4. What are the price charges?
A. National B. International
5. Who are your nearest competitors?
A. SBI B. Money gram
C. GE Money D. HDFC
E. Thomas Cook F. Other
6. Which mode of transportation do you prefer for money transfer?
A. Wire transfer B. Bank draft
C. Money order D. Internet
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7. Which mode of physical transfer do you use?
A. By road B. By air
C. By Ship D. No answer
8. Which type of securities do you provide?
A. Insurance...............................................................................................................
B. If any other............................................................................................................
9. Minimum transfer amount.
A. 0 to 5000 B. 5000 to 10000
C. 10000 to 15000 D. 15000 & above
10. Who deciding money exchange rate?
A. Forex B. RBI
11. Do you offer any schemes to your customers?
A. Yes B. No
12. How many workers & employees are engaged in your business?
.........................................................................................................................................
.........................................................................................................................................
13. What are the benefits given to the workers & employees?
A. Weekly off B. Overtime Wages
C. Uniform D. Transportation
E. Others
14. What kind of documents for evidence or proof is provided?
A. Receipts B. Passport
C. Text Message D. Other
15. How are the grievances of customers solved?
A. Personal Attention B. Customer Care
C. Refund D. Other
16. Suggestions:
.....................................................................................................................................
..........................................................................................................................................
..................................
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A STUDY ON CONSUMER BEHAVIOUR WITH RESPECT TO WESTERN UNION &
OTHER MONEY TRANSFER SERVICE PROVIDER
Name :...........................................................................................................................
Gender : Male Female
Address : .........................................................................................................................
...........................................................................................................................
Contact No. :...........................................................................................................................
1. Income per month.
A. 0 to 5000 B. 5000 to 10000
C. 10000 to 15000 D. 15000 & above 2. Do you transfer money to inside or outside India?
A. Yes B. No
3. How much amount you transfer per annum (average)?
A. 0 to 1000 B. 1000 to 10000
C. 10000 to 20000 D. 20000 & above
E. No answer
4. How much is your average money transfer expenditure in a month?
A. Up to 100 B. 100 200
C. 200 500 D. 500 and more
E. No answer
5. Which money transfer service providing company do you usually prefer for your
purpose?
A. Western Union B. HDFC
C. SBI D. Money Gram
E. Thomas cook E. Others: - _______________
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6. Do you prefer western union?
A. Yes B. No
7. If yes. Why? , If no. Why?
.............................................................................................................................................
...................................................................................................................................................
8. Are you satisfied with the service provided by the company which you prefer?
A. Yes B. No
If Yes than give reason
...............................................................................................................................................
....................................
9. What services do you expect from your service provider?
A. Wire transfer B. Money order
C. Bank draft D. Internet
10. Is your money timely delivered?
A. Yes B. No
11. Insurance is provided by the service provider company?
A. Yes B. No
12. by, safety & security, Rate western union
A. Best B. Better
C. Good D. Average
E. Worst
13. What schemes do you expect from the service provider?
.............................................................................................................................................
.............................................................................................................................................
14. Do you use online feedback of the service providers?
A. Yes B. No
15. Suggestions:
..........................................................................................................................
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http://www.google.co.in/imgres?imgurl=http://www.artsjournal.com/dewey21c/vision.jpg&imgrefurl=http://www.artsjournal.com/dewey21c/2009/03/obamas-vision-of-education.html&usg=__Q9P80P7l6SC_4RpYWqBmpvVrWTY=&h=480&w=640&sz=66&hl=en&start=10&zoom=1&tbnid=ANZfiNAL385RmM:&tbnh=103&tbnw=137&prev=/images?q=vision&hl=en&sa=G&gbv=2&tbs=isch:1&itbs=1 -
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1. since when you have been into this business?
Up to 3 2/190*100 10%
3 to 5 5/190*100 25%
5 to 10 3/190*100 15%
More than 10 10/190*100 50%
0%
10%
20%
30%
40%
50%
60%
up to 3 3 to 5 5 to 10 more than 10
up to 3
3 to 5
5 to 10
more than 10
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INERPRETATION:-
From the survey it is inferred that the money transfer service has beenrepresent and serving the society for up to 3 years which is 2
respondents, out of 20 (sample size) respondents which represents 10%
of the total.
The banks which are engaged in providing money transfer service 3 to 5
which is 5 respondents, out of 20 (sample size) respondents which
represents 25% of the total.
The banks which are engaged in providing money transfer service 5 to 10consist of 3 respondents, out of 20 (sample size) respondents which
represents 15% of the total.
And the banks which are engaged in providing money transfer service
more than 10 which is 3 respondents, out of 20 (sample size)
respondents which represents 50% of the total.
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2. How many branches do you have across India?
Up to 100 4/20*100 20%
Up to 200 3/20*100 15%Up to 500 3/20*100 15%
More Than 500 10/20*100 50%
0%
10%
20%
30%
40%
50%
60%
upto 100 upto 200 upto 500 more than 500
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INTERPRETATION:
Having the largest network gives a competitive advantage to the banks.
The bank can have a large market share. The banks having more & more
branches across India can gain this competitive advantage.
Most of the banks, which are engaged in providing money transfer
service, have
Up to 100 branches across India, it represents 25% of the total. i.e.
5 respondents, out of 20 (sample size) respondents.
Secondly, there are banks which are having up to 200 branches
across India. It represents 0% of the total. i.e. no respondents, out
of 20 (sample size) respondents.
The banks which are having branches up to 500 across India.
Contributes 0% to the total. i.e. no respondents, out of 20 (sample
size) respondents.
The banks which are having branches more than 500 across India.
Contributes 75% to the total. i.e. 15 respondents, out of 20
(sample size) respondents.
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3. What are your destinations for delivery?
INTERNATIONAL 7/20*100 35%
NATIONAL 5/20*100 25%BOTH 8/20*100 40%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
INTERNATIONAL NATIONAL BOTH
INTERNATIONAL
NATIONAL
BOTH
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INTERPRETATION:
There are companies which transfer money only to national destination
& there are companies which transfer money only to international
destinations.
There are companies which transfer money to both national &
international destinations. This type of companies can have a varied
customer base & a very large market share.
The money transfer services are provided by the international
destination which represent 35% of the total i.e. 7 respondents
out of 20 (sample size) respondents.The money transfer services are provided by the national
destination which represent 25% of the total i.e. 5 respondents
out of 20 (sample size) respondents.
The money transfer services are provided by both international &
national destination which represent 40% of the total i.e. 8
respondents out of 20 (sample size) respondents.
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4. What is the price charge for money transfer?
NATIONAL 10/20*100 50%
INTERNATIONAL 5/20*100 25%NO ANSWER 5/20*100 25%
0%
10%
20%
30%
40%
50%
60%
NATIONAL INTERNATIONAL NO ANSWER
NATIONAL
INTERNATIONAL
NO ANSWER
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INTERPRETATION:
Maximum companies providing money transfer services charge a
minimum price of up to Rs. 100/- from their customers. Generally the
companies are providing national and international services to their
customers with minimum charge for money transfer.
The companies are providing National money transfer service
charge, which represent 50% of the total i.e. 10 respondents out
of 20 (sample size) respondents.
The companies are providing International money transfer service
charge, which represent 25% of the total i.e. 5 respondents out of20 (sample size) respondents.
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5. Who are the nearest competitors?
SBI 7/20*100 28%
MONEY GRAM 6/20*100 24%GE MONEY 2/20*100 8%
FEDEX 0/20*100 0%
THOMAS COOK 7/20*100 28%
OTHERS 3/20*100 12%
0%
5%
10%
15%
20%
25%
30%
SBI MONEY GRAM GE MONEY FEDEX THOMOS COOK OTHERS
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INTERPRETATION:-
There is a cut threat competition among the service providers from the
survey we can conclude that 28% of respectively i.e. 7 respectively out of
20 (sample size) respectively feel that SBI is their nearest competitors.
After money gram most of the respective feel that SBI is their nearest
competitors which represents 24% of the total .i.e. 6 respectively out of
20 (sample size) responds.
After GE money most of the respective feel that SBI is their nearest
competitors which represent 8% of the total .i.e. 2 respectively out of 20
(sample size) responds.
Today in a competitive area if a well established player does not take
appropriate steps to maintain its market share than the local players
would take up that part.
Some is the case here; the other competitors represent 12% of the total
.i.e. 3 represent out of 20(sample size) responds.
The other local player in the market are the following:
SBI
MONEY GRAMGE MONEY
FEDEX
THOMAS COOK
BANK OF BARODA
HDFC
After other local player in the market, most of the respectively feel that FedEx
is their nearest competitor which represents 0% of the total i.e. 0 respectiveout of 20 (sample size) respectively.
After FedEx most of the respective see that Thomas cook which represents
28% OF their i.e.7 respectively out of 20(sample size)) respectively.
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6. Which mode of transportation do you prefer for money transfer?
Wire transfer 8/20*100 33.33%
Bank draft 3/20*100 12.5%
Money order 0/20*100 0%
Internet 13/20*100 54.17%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
WIRE TRANSFER BANK DRAFT MONEY ORDER INTERNET
WIRE
TRANSFE
R
BANK
DRAFT
MONEY
ORDER
INTERNET
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INTERPRETATION:-
The mode of transportation becomes an important part of the money
transfer service as it is the main expenditure to be incurred by the
money transfer service in this field.
Most of the service providers preferred mode of money transfer is by
INTERNET which is 54.17% i.e.13 respondents out of20 respondents.
The second most preferred mode of money transfer is by WIRE
TRANSFER which represents 33.33%of the total i.e. 8 respondents out of
20 respondents.
BANK DRAFT represents 12.5% of the total i.e. 3 respondents out of20
respondents.
MONEY ORDER is used simultaneously represents 0% of total i.e. no
respondents out of20 (sample size) respondents.ss
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7. Which mode of physical transfer do you use?
By road 7/20*100 38%
By air 11/20*100 55%By ship 0/20*100 4%
No answer 2/20*100 3%
0%
10%
20%
30%
40%
50%
60%
BY ROAD BY AIR BY SHIP NO ANSWER
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INTERPRETATION:-
The mode of transportation becomes an important part of the moneytransfer service as it is the main expenditure to be incurred by the
money transfer service in this field.
For domestic service providers the preferred mode of transportation is
by AIR which is 55% i.e.11 respondents out of 20respondents.
The second most preferred mode of transportation is by ROAD which
represents 38%of the total i.e. 7 respondents out of 20 respondents.
Water ways represents 4% of the total i.e. no respondents out of 20
respondents. Water ways is the least preferred mode of transportation.
Other modes of transportation used simultaneously represents 3% of
total i.e. 2 respondents out of 20 (sample size) respondents.
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8. Which type of securities do you provide?
Insurance 8/20*100 40%
If any other 2/20*100 10%No answer 10/20*100 50%
0%
10%
20%
30%
40%
50%
60%
insurance if any other no answer
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INTERPRETATION:
Insurance means the promise to pay a sum of money as
compensation in event of loss.
From the above data very fewer respondents provide insurance to
their customers which represent 40%of the total. i.e. 8
respondents out of 20 (sample size) respondents.
From the above data less respondents provide any other securities
to their customers which represent 20% of the total. i.e. 2
respondents out of 20 (sample size) respondents.
From the above data we observe that so many respondents notprovide any type of securities to their customers which represent
50% of total. i.e. 10 respondents out of 20 (sample size)
respondents.
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9. Minimum transfer amount.
0 to 5000 11/20*100 55%5000 to 10000 0/20*100 0%
10000 to 15000 1/20*100 5%
15000 & above 7/20*100 35%
No answer 1/20*100 5%
0%
10%
20%
30%
40%
50%
60%
0 to 5000 5000 to 10000 10000 to 15000 15000 & above no answer
percentage
Column1
Column2
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INTERPRETATION:
Most of the respondents transfer 0 to 5000 rs. Minimum which
contributes to 55% of the total. i.e. 11 respondents out of 20
(sample size) respondents.
There so many respondents who transfer 5000 T0 10000 rs.
Minimum which represent to O% of the total. i.e. 0 respondents
out of 0 (sample size) respondents.
There is very fewer respondents transfer 10000 TO 15000 rs.
Minimum which shows 0% of the total? i.e. 0 respondents out of
20 (sample size) respondents.There are very fewer respondents transfer 15000 & above rs.
Minimum this shows 5% of the total. i.e. 1 respondent out of 20
(sample size) respondents.
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10. Who deciding money exchange rate?
Forex 11/20*100 55%RBI 7/20*100 35%
No applicable 2/20*100 10%
0%
10%
20%
30%
40%
50%
60%
forex RBI no applicable
percentage
Column2
Column1
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INTERPRETATION:-
In the market all the money transfer service providers follow the
money exchange rate.
From the above data we observe the all most respondents follow
the forex money exchange rate which represent 57.14 % of the
total. i.e. 12 respondents out of 20 (sample size) respondents.
From the above data we observe that the very few respondents
follow RBI money exchange rate which shows 33.33% of the total.
i.e. 7 respondents out of 20 (sample size) respondents.
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11. Do you offer any schemes to your customers?
Yes 13/20*100 65%
No 6/20*100 30%
No Answer 1/20*100 5%
65%
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
Yes NO NO Answer
Column1
Precentage(%)
Number
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INTERPRETATION:-
Todays attraction to customer are offer and schemes, but from the trend seem in the
survey data, we can say that 30% of the total companies i.e.6 respondents
out of 20 respondent dont provide any scheme and offers.
The companies which provide scheme and offers companies of only 65% of
the total companies i.e. 13 respondents out of 20 respondents.
Generally the type of scheme and offer are as under
Yearly discount to customers.
Lower charges from regular customers.
Gift are given during festivals.
Generally, most of the companies give offer & schemes during festivals
like Diwali, Rakshabandhan, New Year, Christmas and list goes on.
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12. How many workers & employees are engaged in your business?
Workers &employees NUMBER PERECENTAGE (%)< 5 3/20*100 15%
6 TO 10 6/20*100 30%
11 TO 20 5/20*100 28%
20 & ABOVE 3/20*100 15%
NO ANSWER 3/20*100 15%
0%
5%
10%
15%
20%
25%
30%
35%
Less than 5 6to10 11to20 20 above No answer
Less than 5
6to10
11to20
20 above
No answer
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INTERPRETATION:-
The company which has a large work force can provide good customer
service and on time delivery of the money. On the negative side the
company has to pay a large amount of salary to them with all the
benefits.
Most of the companies engaged in providing money transfer service
have a work force of above 20 employees in one branch of the company.
This represents 15% of the total i.e. 3 respondents out of 20 (samplesize) respondents.
In second position there are companies who are having a work force of
between Workers,6 to 10 which contribute 30% of total i.e. 6
respondents out of 20 (sample size) respondents.
The third positions there are companies who are having a work force of