icici bank (final)

25
ICICI BANK A PRESENTATION WITH REFERENCE TO SERVICE GAP MODEL

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Page 1: Icici Bank (Final)

ICICI BANK

A PRESENTATION WITH REFERENCE TO SERVICE GAP MODEL

Page 2: Icici Bank (Final)

Presented By:

Ranjan Abhishek (22) Rahul Agarwal (74)

Anurag Singh (69)

Page 3: Icici Bank (Final)

1955 - The Industrial Credit and Investment Corporation of India Limited (ICICI) incorporated at the initiative of the World Bank, the Government of India and representatives of Indian industry.

1967 -ICICI made its first debenture issue for Rs. 6 crore, which was oversubscribed.

1977 -ICICI sponsors the formation of Housing Development Finance Corporation & Managed its first equity public issue.

Company Profile

Page 4: Icici Bank (Final)

1986 - The first public issue by any Indian equity in the Swiss Capital Market.

- Along with UTI sets up Credit Rating Information Services of India Limited.

1994 - ICICI sets up ICICI Bank.

1997 - The name "The Industrial Credit and Investment Corporation of India Limited " was changed to "ICICI Limited".

2001 - ICICI Ltd and ICICI Bank were Merged.

2002 - Merger of ICICI Limited, ICICI Capital Services Ltd and ICICI Personal Financial Services Limited with ICICI Bank. – “A Reverse Merger”.

Page 5: Icici Bank (Final)

India’s Largest Private Sector Bank.

International Presence in UK, Canada, Europe and Asia etc.

Assets Worth Rs. 34,46,581.1 million – 2007.

889.78 Million Equity Share – Issued & Subscribed.

Page 6: Icici Bank (Final)

The various benefits offered by ICICI Bank with retail

and wholesale banking are-Pay order facilityFacility of demand draftRTGS facilityNEFT facilityFacility of free cheque bookMobile bankingNet bankingInsta alert facility

Page 7: Icici Bank (Final)

Customer’s Preferences

Online Fund TransferFacility available of cash deposit for inter or intra branch Banking and cash withdrawalFree cheque bookPayable at par cheque book facilityPhone banking facilityInsta alert facilityFree pay orders/ demand draftMonthly statementAvailability of loanWorking hours of the bank

Page 8: Icici Bank (Final)

Customer Dissatisfaction Areas

Phone banking facility

Insta alert facility

Availability of loan

Working hours

Page 9: Icici Bank (Final)

Customer Satisfaction Areas

Online Fund Transfer Facility available of cash deposit for inter or intra

branch Banking and cash withdrawalPay orders/ demand draft

Page 10: Icici Bank (Final)

STRENGTH

•A complete range of product for retail banking.•A sound IT base.•A strong wholesale banking base by innovating on product offerings.•The efficient utilization of cross selling.•Increased geographical presence.•A timely merger. •Wide range of product for wholesale banking.

WEAKNESSES

•Failure in providing prompt services.•Non responsive.•Less number of ATMs and branches.•Lack of modern equipment.•Working hours.

Page 11: Icici Bank (Final)

OPPORTUNITY

• Rise in upper and middle class population- due to GDP growth

• Liberalisation of trade and business.

• Largely unexplored market in regions where only public sector banks operates.

THREATS• If unable to manage rapid

growth, business could be adversely affected.

• Competition from large public sector banks as well as from private banks.

• Retaining efficient management team in the face of competition.

• Getting permission of RBI for opening up new branches.

Page 12: Icici Bank (Final)

Item Number

Skill/Competence Mean (Importance)

Mean (Performance)

1 Positive attitude towards customers 4.85 4.40

2 Trustworthiness 4.81 3.44

3 Good Communication with customers 4.74 3.17

4 Clear and accurate communication with supervisors

4.56 3.44

5 Harmoniously working relationships with others

4.54 3.88

6 Clear spoken communication 4.44 3.93

7 Adaptability (When Complaint handling) 4.94 4.27

8 IT competence 4.83 4.54

9 Knowledge of Current Services 4.79 4.21

QUESTIONNAIRE

Page 13: Icici Bank (Final)

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Expected Service

Perceived Deliver

Service Delivery

Customer Oriented Service Design

Company’s Understanding of

Customer Expectation

External Communicated

Customers

GA

P 1

- S

urv

ey /

Res

earc

h G

ap

GAP 2 - Resource Gap

GAP 3 - Implementation Gap

GAP 4 - External

Communication Gap

GAP 5 - Customer Gap

Page 14: Icici Bank (Final)

GA

P 1

Customer Needs and Expectation

Management Definition of these Needs

1. Better Services.

2. Good Ambience.

3. Least attention paid to small customers.

Page 15: Icici Bank (Final)

GA

P 2

Management definition of these needs

Translation into Design

1. No proper service design for customers.

2. Absence of Customer Defined Service Standards.

Page 16: Icici Bank (Final)

GA

P 3

Execution of Designs

Service Delivery

1. No consistency in quality of service.

2. Customer Enquiry Constraints.

3. Unable to match the demand at peak hours.

4. Problems with Service Intermediaries.

Page 17: Icici Bank (Final)

GA

P 4

Service Delivery

Advertising and Sales Promises

1. Inadequate Horizontal Communication.

2. Overpromising.

3. Lack of Integration of Marketing Communication.

Page 18: Icici Bank (Final)

GA

P 5

Customers Expectations

Customer Perception

1. Overpromise, Under delivery.

2. Main customers- Corporate customers hence interpretation of a local customer varies differently.

Page 19: Icici Bank (Final)

RECOMMENDATIONS

Page 20: Icici Bank (Final)

For Closing GAP 1……….

• Use Research, Complaint analysis, Customer forums.

• Increase direct interactions between managers and customers.

• Improve upward Communication.

Page 21: Icici Bank (Final)

For Closing GAP 2……….

• Set, Communicate and reinforce customer- oriented service standards.

• Establish challenging and realistic service quality goals.

• Be receptive to new ways to deliver service quality.

Page 22: Icici Bank (Final)

For Closing GAP 3……….

• Recruitment of best employees.

• Develop, train and support employees.

• Reward managers and employees.

Page 23: Icici Bank (Final)

For Closing GAP 4……….

• Seek input from operations personnel.

• Seek input from employees on advertising.

• Gain Communications between sales, operations and customers.

• Tiered service options.

Page 24: Icici Bank (Final)

For Closing GAP 5……….

• Reliability

• Responsiveness

• Assurance

• Empathy

• Tangibles

Page 25: Icici Bank (Final)

THANK YOU