s perception towards financial product in i sec … · from the study the result is that 86.67% of...

“A STUDY ON CUSTOMER’S PERCEPTION TOWARDS FINANCIAL PRODUCT

IN I SEC, CHENNAI”

J.Pavithra1, Rajan singh

2

Assistant Professor1, Student

2, Department of Management Studies1,2

BIST, BIHER, Bharath University, Chennai

[email protected]

I. TOPIC EXPLAINED:

Customer perception towards financial products:

Perception (from the Latin perceptio, percipio) is the process by which an organism

attains awarenes

or understanding of its environment by organizing and interpreting sensory information

Today’s world is very fast and people are forced to run towards their life styles. Plenty of

industries grows very fast among that share market industry is one of the booming one in

the present environment. ICICI DIRECT is one of the shares trading company. The main

objective of the study is to find the awareness of the company ICICI DIRECT in the

present competitive environment among the customers[5-11].

ICICI DIRECT is lead by a highly regarded management team that has invested cores of

rupees into a world class infrastructure that provides our clients with real time services

and 24/7 access to all information and products. Our flagship ICICI DIRECT

professional network offers real time prices, detailed data and news, intelligent analytics

and electronic trading capabilities right at your fingertips. This powerful technology is

complemented by our knowledge and customer focuses relationship managers. We are

creating a world of smart investors. Before we go into the survey, let us know about the

company[1-4].

We cater to the financial needs of institutional as well as the retail clients and high net

worth individuals. Our ever expanding and diversified customer base gives us the

strength and confidence to weather the volatility of the stock market. It also enables us to

maintain high levels of customer service during volatile times. ICICI DIRECT meets the

support needs of this investor base through execution skills driven by an experienced

International Journal of Pure and Applied MathematicsVolume 119 No. 12 2018, 1279-1296ISSN: 1314-3395 (on-line version)url: http://www.ijpam.euSpecial Issue ijpam.eu

1279

sales team and research-backed advice generated by a team of highly experienced

analysts.

The URL ICICIDirect.com is owned by ICICI and managed by ICICI Web Trade

Limited. ICICI Web Trade Limited facilitates trading and related services on the internet

through maintenance of the website. Trades put through ICICIDirect.com are executed by

ICICI Web Trade Limited, which is a trading member of the National Stock Exchange

and The Stock Exchange, Mumbai. SEBI registration numbers for NSE and BSE are INB

231147639 and INB 011147635 respectively[12-16].

II.REASON FOR CHOOSING THE TOPIC:

The reason for choosing the topic is very much essential in extensify the learning

In terms of monetary issues.

Availability of competitors in the market.

To know the perception of customers, as because of many financial firms

available in the market.

To learn about the financial products

To nurture the Talents & Marketing strategies.

To improve the image of financial firms by preaching about the financial products

& its future needs to the consumers.

To understand the giant share market & its value.

Enhance to knowledge towards financial products & its value.

To understand the dynamic & visionary market.

To understand the impossible sector of financial needs.

III.STATEMENT OF PROBLEM:

ICICI DIRECT, a truly dynamic and visionary firm, and a trusted name in the financial

services arena, offers the entire gamut of advisory services under one roof. Right from

investing, trading, research and financial planning to portfolio management services, we

provide our clients with integrated, robust and reliable solutions to satisfy all their

financial needs[17-23].

International Journal of Pure and Applied Mathematics Special Issue

1280

The statement of problem is very much useful in terms of understanding the views &

studies of the project executed towards the profile or any learning, that can be very much

useful in terms projectithe future needs of the study

To predict the understanding of the study & to analyze the customers demand.

To convince the customers, to deal with ICICI.

To Understand the Giant financial term & the market.

To deal with the uncertainty of the financial market.

To understand the share market & to deal with it.

OBJECTIVES OF THE PROJECT:

ICICI Direct keeps track of the transactions, the settlement dates and stock exchange

rules, hence relieving you of the inconvenience of tracking stock exchange trading

calendars[24-30], settlement dates, writing cheques,Like these, There are many

objectives of the study, that were traced during the study & that are follows:

PRIMARY OBJECTIVE

To study the perception of the customers with reference to the share market.

To analyze the level of awareness of customers transacting business through

ICICI

DIRECT.

To offer suggestions for increasing the level of awareness of the customers.

To study the customers awareness with reference to ICICI DIRECT

Various services offered by ICICI DIRECT.

Customer friendly firm.

Interaction with the potential clients & suggestion to improve the services of

ICICI securities

To understand the giant market by predicting the customers.

To learn the world of opportunities.


1281

SECONDARY OBJECTIVE

To study the perception of the customers with reference to the share market.

To analyze the level of awareness of customers transacting business through

ICICI

DIRECT.

To offer suggestions for increasing the level of awareness of the customers.

To study the customers awareness with reference to ICICI DIRECT.

Various services offered by ICICI DIRECT.

V.RESEARCH METHODOLOGY

Research is simply a scientific search for knowledge especially in the areas related to

functions of marketing. Marketing research as a separate department can be a source of

great help to make its decisions on the basis of intuition ‘much what is based on past

experience[31-34]’ secondary information collected at random and everything molded by

one’s own mental makeup

. Research in marketing refers to the systematic gathering, recording and analyzing of

data about problems relating to the marketing of goods and services. As such the

functions involved

Are:

Systematic collection of data and information.

Properly recording them for use and

Analyzing and interpretation the recorded facts and figures to

Arrive are useful conclusions.

Research design - Descriptive research

Statistical tools - Percentage method

- Weighted average method

- Rank analysis

- ANOVA (F – test)

- Chi square (x2)

Research instrument - Questionnaire


1282

Questionnaire - Open ended and close ended

Contact method - Survey

- Personal interview

- Online interview

Method of data collection - Primary data and secondary

data

Sampling method - Non-probability sampling

Sampling type - Area sampling

Sampling unit - Consumers

Sampling size - 100

IMPORTANCE OF RESEARCH

During the analysis of characteristics of certain groups, for e.g. users of a product

with different age, sex, education etc.

To forecast the future trends, e.g. sales of a company’s product in each of next

five years.

To study whether certain variables are associated, e.g. income and usage of a

product.

METHODS OF COLLECTION OF DATA:

The task of collecting data being after a research problem has been defined and plan is

chalked and plan is chalked out. This study pertains to collect data from primary sources

primary data and from secondary sources secondary data[35-39].

PRIMARY DATA

Primary data are that information which is collected, fresh and fir the first time thus

happens to be original in character primary data can be collected in marketing by three

basic methods, viz., survey, observation and experiments.

SECONDARY DATA

On the other hand are those, which have already been passed through the statistical

process.

The secondary data are that information, which is collected from internal; sources as well

as external sources, Wiz’s from the company own the records and documents.


1283

Secondary data was collected from the registers[40-43], manuals, information bulletins

maintained by the personnel department and other records, information collected in this

manner was immediately complied processed manually and a statistical structure was

given to the data to help interpretation of the statistical data

SAMPLE SIZE

150 were talen as sample size

Determination of sample size.

Determination of sample size for consumers.

The sample survey was conducted with consumers.

p=0.8 q=0.2

Sample standard deviation = √pq/n = 0.1264

Assuming normal distribution, the research prefers to limit the error of estimation to 2%

at 95% confidence level (z = 1.96)

Z = error/s.d/√n

n = [Z/error x s.d] 2

= 153.44Ω150

n = 150

Thus the sample size for consumers was determined as 150.

Sampling Procedures

Selected for this study in area sampling /cluster sampling.

Contact Method

The respondent was contacts directly and personally interview. The statistical tools used

for analysis are:

Percentage method

Weighted average

Rank analysis

Chi Square (X2)

ANOVA (F-test)

Table No. 10 RESPONDENT’S SATISFACTION LEVEL WITH MUTUAL

FUNDS.


1284

S. no. Category No. of respondents %

1 Highly satisfied 60 40

2 Moderate 30 20

3 Satisfied 20 13.33

4 Dissatisfied 40 26.67

5 Highly dissatisfied 00 00

Total 150 100


1285

GRAPH 10

.

INFERENCE:

From the table, 40% of the respondents highly satisfied with brokerage charges; 20% of

the respondents are moderate with the brokerage charges; 13.33% of the respondents are

satisfied with the brokerage charges; 26.67% of the respondents are dissatisfied with the

brokerage charges andTable No. 11 RESPONDENT’S SATISFACTION LEVEL OF

THE ISSUERENCE


1 YES 108 72

2 NO 42 28

Total 150 100


1286

Graph 11

INFERENCE:

From the study, the result is that 72% of the respondents satisfied for the option BTST

and 28% of the respondents are not satisfied for the option BTST respectively.


1287

Table No. 12 RESPONDENTS AWARENESS ON DEMAT ACCOUNT


1 YES 130 86.67

2 NO 20 13.33

Total 150 100

GRAPH 12

INFERENCE:

From the study the result is that 86.67% of the respondents aware of the demat account levied by the

company and 13.33% of the respondents are not aware of the demat account respectively[44-45].

Table No. 13 RESPONDENT’S AWARENESS OF THE ABSENCE OF AMC

(ANNUAL MAINTENANCE CHARGES)


1 YES 120 80

2 NO 30 20

Total 150 100


1288

.GRAPH 13

INFERE

NCE:

From the study the result is that 80% of the respondents aware of the AMC of the company and 20%

of the respondents are not aware of the AMC respectively

I.FINDINGS :

In the prevailing competitive environment existing in the share industry, the market potential and

promotional strategy is changing from time to time. So there is a need to analyze the market

efficiency and promotional strategy prevailing in the market

For the development of ICICI DIRECT.

It is found from the study customer awareness toward ICICI DIRECT in different aspects are as

follows:

1. As ICICI DIRECT deals with online shares, 80% of the customers are aware of the online shares

and 20% of the respondents are not aware of online shares[29-34].

2. Maximum no. of customers got knowledge about ICICI DIRECT through share brokers that is

40%, next to that they come to know through the online advertisements that is 33% and rest of the

customers through friends and bankers.


1289

3. Majority of the customers main objective is to invest in shares is earn high returns that is 40%,

easy liquidity around 27%, 20% of the respondents invest because of the tax-saving rest to capital

appreciation in long run. So overall result is people invest shares only for earning high dividends and

easy liquidity of cash.

4. Around 50% of the customers invest shares in the time gap within 3 months. 26.67% of the

customers feels slow operations, inaccessibility to the service centre and fund transfer facility and

20% very few customers are dissatisfied for their delayed correspondence.

5. The brokerage charges are highly satisfied by 40% of the customers, 26.67% says dissatisfied,

20% are moderate and 13.33% are satisfied. Only 26.67 of the customers say dissatisfied so almost

74% of them are satisfied with the brokerage charge.

6. 72% of the customers are satisfied with the BTST provided by the company; only few customers

that are 28% are not satisfied and said no.

7. Maximum no. of customers that is around 87% are aware of the demat account levied by the

company, very few are not aware that is 13%.

8. AMC’s absence in the company is aware to 80% of the customers and less is not aware that is

20%.

9. Company’s SUN JAVA software used for online transaction is aware to 93% of the customers and

only few, 7% are not aware[35-39].


1290

II.SUGGESTIONS FOR THE IMPROVEMENTS:

From the analysis of the survey and personal observation of the customer towards the awareness

of the share and the share company ICICI DIRECT. Lots of experience gained from the survey.

This will help the company to survive in the market and also improvise their market potential in

the current competitive environment. With this the company should take immediate steps to

improve the nature of the business.

From the survey;

1. Most of the customers got information about the company only through the share brokers. The

company should take necessary steps to concentrate on the advertisements. Through they are

advertising online, it is necessary to advertise in TV, radio, presses; only when they give these

kinds of advertisements they can get lots of customers. Also they have to go for boarding, which

can be viewed by everyone passing by[42-45].

2. The majority of the customers invest in shares to earn high returns in the short run. This is

facilitated through the demat account. All new issues are issued only in the demat form. The

benefits of having a demat account must be explained to the customers.

3. It was found that maximum no of customer is investing in shares after a time gap of 3 months.

The company should explain the benefits of intraday (buy today and sell today) operations

certain customers invest in shares with a long term on capital apperceptions. The benefits of

short term trading can be explained to the customers so that they may be persuaded to go in for

the same.

4. There is a favorable feedback from the customers about brokerage charges as per transactions.

This fact must be emphasized in advertisements and promotional leaflets mailed to potential

customers.

5. All the IPO’s will be issuing shares only in demat form; these details have to be explained to

the potential customers.

6. Many of the customers are not aware of my broker software. This usefulness should be

explained to them.

7. Customers with money to invest may be living in isolated areas with no proper telephone or

computer facility, the company may think of deputing relationship managers to help the

customers through proper guidance and by passing on relevant information.


1291

CONCLUSION :

Share trading as a whole is now considered as a specific sources of investment. With the advent

of new online based trading customers are very much satisfied. Share trading industry has

reviewed up its standards once again investment centers.

It can be explicitly noted from the project that the awareness level are high with the present

youngsters and the middle-aged group which can be observed as a positive sign for the growth of

the industry. The effectiveness of the other supporting instrument like client relationship can be

further improved so that the impact will be high.

It doesn’t end at just opening the demat account but the actual implementation is considered with

the customer related services. The customer should be updated on recent trends market news and

the value of the investment that increases their satisfaction and awareness and trust on the

company.

References:

1. Nimal, R.J.G.R., Hussain, J.H., Effect of deep cryogenic treatment on EN24 steel,

International Journal of Pure and Applied Mathematics, V-116, I-17 Special Issue, PP-

113-116, 2017

2. Parameswari, D., Khanaa, V., Deploying lamport clocks and linked lists, International

Journal of Pharmacy and Technology, V-8, I-3, PP-17039-17044, 2016

3. Parameswari, D., Khanaa, V., Case for massive multiplayer online role-playing games,

International Journal of Pharmacy and Technology, V-8, I-3, PP-17404-17409, 2016

4. Parameswari, D., Khanaa, V., Deconstructing model checking with hueddot, International

Journal of Pharmacy and Technology, V-8, I-3, PP-17370-17375, 2016

5. Parameswari, D., Khanaa, V., The effect of self-learning epistemologies on theory,


6. Pavithra, J., Peter, M., GowthamAashirwad, K., A study on business process in IT and

systems through extranet, International Journal of Pure and Applied Mathematics, V-116,

I-19 Special Issue, PP-571-576, 2017

7. Pavithra, J., Ramamoorthy, R., Satyapira Das, S., A report on evaluating the effectiveness

of working capital management in googolsoft technologies, Chennai, International

Journal of Pure and Applied Mathematics, V-116, I-14 Special Issue, PP-129-132, 2017

8. Pavithra, J., Thooyamani, K.P., A cram on consumer behaviour on Mahindra two

wheelers in Chennai, International Journal of Pure and Applied Mathematics, V-116, I-18

Special Issue, PP-55-57, 2017

9. Pavithra, J., Thooyamani, K.P., Dkhar, K., A study on the air freight customer

satisfaction, International Journal of Pure and Applied Mathematics, V-116, I-14 Special

Issue, PP-179-184, 2017


1292

10. Pavithra, J., Thooyamani, K.P., Dkhar, K., A study on the working capital management

of TVS credit services limited, International Journal of Pure and Applied Mathematics,

V-116, I-14 Special Issue, PP-185-187, 2017

11. Pavithra, J., Thooyamani, K.P., Dkhar, K., A study on the analysis of financial

performance with reference to Jeppiaar Cements Pvt Ltd, International Journal of Pure

and Applied Mathematics, V-116, I-14 Special Issue, PP-189-194, 2017

12. Peter, M., Dayakar, P., Gupta, C., A study on employee motivation at Banalari World

Cars Pvt Ltd Shillong, International Journal of Pure and Applied Mathematics, V-116, I-

18 Special Issue, PP-291-294, 2017

13. Peter, M., Kausalya, R., A study on capital budgeting with reference to signware

technologies, International Journal of Pure and Applied Mathematics, V-116, I-18


14. Peter, M., Kausalya, R., Akash, R., A study on career development with reference to

premheerasurgicals, International Journal of Pure and Applied Mathematics, V-116, I-14


15. Peter, M., Kausalya, R., Mohanta, S., A study on awareness about the cost reduction and

elimination of waste among employees in life line multispeciality hospital, International


16. Peter, M., Srinivasan, V., Vignesh, A., A study on working capital management at deccan

Finance Pvt Limited Chennai, International Journal of Pure and Applied Mathematics, V-

116, I-14 Special Issue, PP-255-260, 2017

17. Peter, M., Thooyamani, K.P., Srinivasan, V., A study on performance of the commodity

market based on technicalanalysis, International Journal of Pure and Applied

Mathematics, V-116, I-18 Special Issue, PP-99-103, 2017

18. Philomina, S., Karthik, B., Wi-Fi energy meter implementation using embedded linux in

ARM 9, Middle - East Journal of Scientific Research, V-20, I-12, PP-2434-2438, 2014

19. Philomina, S., Subbulakshmi, K., Efficient wireless message transfer system,


289-293, 2017

20. Philomina, S., Subbulakshmi, K., Ignition system for vechiles on the basis of GSM,


283-286, 2017

21. Philomina, S., Subbulakshmi, K., Avoidance of fire accident by wireless sensor network,


295-299, 2017

22. Pothumani, S., Anuradha, C., Monitoring android mobiles in an industry, International


23. Pothumani, S., Anuradha, C., Decoy method on various environments - A survey,


197-199, 2017

24. Pothumani, S., Anuradha, C., Priya, N., Study on apple iCloud, International Journal of

Pure and Applied Mathematics, V-116, I-8 Special Issue, PP-389-391, 2017


1293

25. Pothumani, S., Hameed Hussain, J., A novel economic framework for cloud and grid

computing, International Journal of Pure and Applied Mathematics, V-116, I-13 Special

Issue, PP-5-8, 2017

26. Pothumani, S., Hameed Hussain, J., A novel method to manage network requirements,

International Journal of Pure and Applied Mathematics, V-116, I-13 Special Issue, PP-9-

15, 2017

27. Pradeep, R., Vikram, C.J., Naveenchandran, P., Experimental evaluation and finite

element analysis of composite leaf spring for automotive vehicle, Middle - East Journal

of Scientific Research, V-17, I-12, PP-1760-1763, 2013

28. Prakash, S., Jayalakshmi, V., Power quality improvement using matrix converter,


95-98, 2017

29. Prakash, S., Jayalakshmi, V., Power quality analysis & power system study in high

voltage systems, International Journal of Pure and Applied Mathematics, V-116, I-19


30. Prakash, S., Sherine, S., Control of BLDC motor powered electric vehicle using indirect

vector control and sliding mode observer, International Journal of Pure and Applied


31. Prakesh, S., Sherine, S., Forecasting methodologies of solar resource and PV power for

smart grid energy management, International Journal of Pure and Applied Mathematics,

V-116, I-18 Special Issue, PP-313-317, 2017

32. Prasanna, D., Arulselvi, S., Decoupling smalltalk from rpcs in access points, International


33. Prasanna, D., Arulselvi, S., Exploring gigabit switches and journaling file systems,


13-17, 2017

34. Prasanna, D., Arulselvi, S., Collaborative configurations for wireless sensor networks

systems, International Journal of Pure and Applied Mathematics, V-116, I-15 Special

Issue, PP-577-581, 2017

35. Priya, N., Anuradha, C., Kavitha, R., Li-Fi science transmission of knowledge by way of

light, International Journal of Pure and Applied Mathematics, V-116, I-9 Special Issue,

PP-285-290, 2017

36. Priya, N., Pothumani, S., Kavitha, R., Merging of e-commerce and e-market-a novel

approach, International Journal of Pure and Applied Mathematics, V-116, I-9 Special

Issue, PP-313-316, 2017

37. Raj, R.M., Karthik, B., Effective demining based on statistical modeling for detecting

thermal infrared, International Journal of Pure and Applied Mathematics, V-116, I-20


38. Raj, R.M., Karthik, B., Energy sag mitigation for chopper, International Journal of Pure

and Applied Mathematics, V-116, I-20 Special Issue, PP-267-270, 2017

39. Raj, R.M., Karthik, B., Efficient survey in CDMA system on the basis of error revealing,


279-281, 2017


1294

40. Rajasulochana, P., Krishnamoorthy, P., Ramesh Babu, P., Datta, R., Innovative business

modeling towards sustainable E-Health applications, International Journal of Pharmacy

and Technology, V-4, I-4, PP-4898-4904, 2012

41. Rama, A., Nalini, C., Shanthi, E., An iris based authentication system by eye localization,


42. Rama, A., Nalini, C., Shanthi, E., Effective collaborative target tracking in wireless

sensor networks, International Journal of Pharmacy and Technology, V-8, I-4, PP-23981-

23986, 2016

43. Pradeep, R., Vikram, C.J., Naveenchandra, P., Experimental evaluation and finite

element analysis of composite leaf spring for automotive vehicle, Middle - East Journal

of Scientific Research, V-12, I-12, PP-1750-1753, 2012

44. Ramamoorthy, R., Kanagasabai, V., Irshad Khan, S., Budget and budgetary control,


189-191, 2017

45. Ramamoorthy, R., Kanagasabai, V., Jivandan, S., A study on training and development

process at Vantec Logistics India Pvt Ltd, International Journal of Pure and Applied



1295

s perception towards financial product in i sec … · from the study the result is that 86.67% of...

Documents