the consumer awareness of all the product

7/28/2019 The Consumer Awareness of All the Product

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THE CONSUMER AWARENESS OF ALL THE

PRODUCTS OF KOTAK MAHINDRA BANK

IN MORADABAD, AMONG POTENTIAL ANDEXISTING CUSTOMERS.

SUMMER TRAINING

PRESENTATION ON


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INTRODUCTION

Today development banking and financial Institution havegained an important place in the Indian financial system.Kotak Mahindra aims at the promotion of new industries;modernization of existing industries and providing

financial services. With the growth of technology theKotak bank is also providing its banking services by themeans of various on line access modes such as mobilebanking, any where banking etc.

Thus, we all have adopted this research process so that

we may able to check the customer satisfaction so that ifthey are facing any problem than the corrective measuresare taken.


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COMPANY PROFILE

Type Public

Industry Financial service

Founded 1985 (as Kotak Mahindra Finance Ltd)

Headquarters Mumbai, IndiaKey people Uday Kotak (Vice Chairman) & (MD)

Products

Deposit accounts, Loans, Investment

services, Business banking solutions,

Treasury and Fixed income products etc.

Revenue 10963 crore (US$2.0 billion)(2011)

Net income 1569 crore (US$290 million)(2011)

Website www.kotak.com

Kotak Mahindra Bank
http://www.kotak.com/http://en.wikipedia.org/wiki/File:Kotak_Mahindra_Group_logo.svghttp://www.kotak.com/


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OBJECTIVE OF STUDY

As we know objectives are the ends which help inachieving the mission.

To determine the satisfaction level of investors ofbanking service

To determine the service that investors want frombanking industry.

To determine the investors problem which they arefacing.

To gather the suggestions related to kotak Mahindrabank services.

To make the people aware about the various schemesof kotak Mahindra bank.


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CONSUMER BEHAVIOUR

Consumer behavior defined as,

According to Walter& Pauls, Consumer behavior

is a process where by individual decides what,

when, where, how & for whom to purchasegoods and services.

According to Layman, Consumer behavior may

be defined as a decision process & physicalactivity individual engaged in evaluating

acquiring, using or disposing of goods & services.


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IMPORTANCE

The importance of consumer behavior in marketing hasbeen beautifully described in a journal titled ModernManagement. Calcutta January 99 in the following words consumer behavior is a rapidly growing field of

research and teaching which, in addition to considerablevalue of marketing managers and others who areprofessionally concerned with buying activity. Animportant reason for studying consumer behavior isevaluation of consumer groups with unsatisfied needs

and desires. The essence of modern marketing concept isthat all elements of business should be geared for thesatisfaction of consumers.


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WHY SHOULD WE STUDY CONSUMER

BEHAVIOUR

Reason:

Significance in daily life:

Consumer behavior plays a significant role in our daily life. Much of our time is spentin market place, shopping or engaging in other activities. A large amount of time isspent in thinking about product & services. Talking to friends about them and seeing

or hearing adds to them. In addition the goods we purchase and the manner in whichwe use them significantly influence how we live in our daily life.

Application to decision making:

Consumer are often studied because certain decisions are significantly affected by

their behavior or expected action for this reason behavior is set to be an applieddecision such activation exist at 2 different level of analysis.

1) Micro perspective 2) Societal perspective


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WHY THIS PROJECT WAS UNDERTAKEN

Kotak Mahindra Bank is the bank in India which has a brandname in Moradabad. It has a newly established branch inMoradabad which was launched in January, 2006. So, asthe project title suggest, the company wanted to know.

The consumer awareness of all the products of KotakMahindra Bank in Moradabad, among potential andexisting customers.

Company wanted to know whether the customers areaware of products of kotak Mahindra Bank or not, and ifthey are aware then what they really like and dislike in allthese products.


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PROBLEM ENVIRONMENT

Kotak Mahindra Bank is the only bank in Moradabad, which isoffering Home Banking in its accounts. Yet the bank has someareas of problem, which may pose a threat to the company

ICICI Bank and SBI Bank, the main competitor of KotakMahindra Bank, are to step in the market of Moradabad.

Kotak Mahindra Bank is new in the Moradabad market.

Kotak Mahindra Bank is not providing the CC limits on itsaccount which is provided by other banks existing inMoradabad.


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RESEARCH METHODOLOGY

RESEARCH PROBLEM

The information required by the objective of the researchand situation leading to research requested on theexploratory study is needed for the potential opportunityor an apparent problem. Firstly the market size wasdetermined for which the research was to be conducted.The study was conducted to determine the marketacceptability of the products of Kotak Mahindra Bank

among existing and potential customer in Moradabadcity. The information was collected from the businessmenin the city.


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RESEARCH DESIGN

After the problem of research is defined, one is toprepare the design of research project. Question relatingto decision regarding what, where, when, who and how aresearch constitute design. A research design is thus the

arrangement of conditions for collection and analysis ofdata in a manner that aims to combine relevance to theresearch purpose. It is thus the conceptual structurewithin which research is conducted. It is the blue print forthe collection measurement analysis of data.

The research design, which I choose for study, wasdescriptive research design.


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SURVEY INSTRUMENTS

A questionnaire was originally developed to know thecustomer satisfaction level. This method is used so thatthere should be less biasness. Through questionnaire wecan obtain service quality feedback from customers, theircontact address and number, demographic information,

including age, race, gender, educational attainment, andprevious experience. This survey stressed the importanceof collecting customer perceptions of service qualityrelating to reliability, responsiveness, competence,communication and knowing the customer.

To ascertain investors perceptions of service quality, thesurvey included some questions related to theirexperiences and expectations.


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Graphical representation is used after determining

the market acceptability of roaming current accountof Bank.

As I have to study both the potential customers andexisting customers.

Therefore I took the sample size of 100

respondents.The break up of the above is as follows:

ANALYTICAL TOOL USED

SAMPLE SIZE


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MAJOR PLAYER IN BANKING INDUSTRY

IN MORADABAD

KOTAKMAHINDRA

BANK

ICICI BANK HDFCBANK

STATEBANK OF

INDIA

U.T.I. OTHERS

15 30 10 25 10 10

INFERENCE:

ICICI Bank, followed by Kotak Mahindra Bank, is the major player in the banking industry in Moradabad


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AWARENESS STATUS OF THE

PRODUCTS OF KOTAK MAHINDRA

BANK

AWARE NOT AWARE

38 62

INFERENCE: -

Most of the customers were not found to be aware of the products of Kotak Mahindra

Bank.


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SOURCES OF AWARENESS AMONG

POTENTIAL CUSTOMERSWORD OFMOUTH

MARKETINGEXECUTIVES

ADVERTISEMENTS BANKS ENQUIRYCOUNTER

15 30 10 5

INFERENCES:-

Marketing Executives are the most effective source of awareness among the potential

customers.


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MOST ACCEPTABLE FEATURE AMONG

POTENTIAL CUSTOMERSMULTICITY CHEQUES HOME BANKING CHANNEL SERVICES

20 30 10

INFERENCES: -

Home Banking is the most acceptable feature of the products of Kotak Mahindra

Bank among potential customers


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EXPECTATIONS OF POTENTIAL CUSTOMERS FROM KOTAK

MAHINDRA BANK

INFERENCE: -

Cash Credit Limit by is the biggest expectation of potential customer


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CONCLUSION

After ICICI BANK, State bank of India is the major player in the bankingindustry in the Moradabad .But KOTAK MAHINDRA BANK Received goodresponse from the market.

Most of the potential customers are not aware of the products of theKotak Mahindra Bank.

Direct selling (through marketing executives) is the most effective toolsfor the promotion.

Home Banking and Multi city cheques is the most appreciatedfeatures of the current and saving account of the Bank.

Absence of cash credit limit is the major drawback of current account.

Relationship with the existing Bank of potential customer is the major

loopholes that hinder the success of the products of Kotak Mahindra Bank. Most of the existing customers are satisfied with the products of KotakMahindra Bank


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SWOT ANALYSIS

Kotak Mahindra Bank is not offering,

Cash credit limit Moradabad branch.

Product range is very high which is

found the major weakness of the

Products of Kotak Mahindra Bank.

After sales services are not satisfactory

in some segment.

Few ATMs are available in the city.

Kotak Mahindra Bank is a newly

launched branch in Moradabad.

Kotak Mahindra Bank has a reputed brand

name in Moradabad.

Kotak Mahindra Bank is the one of the

Bank in Moradabad, which is offeringthird party transaction.

Kotak Mahindra Bank is the one of the

Bank in Moradabad, which is offering

Home banking

Good bank image.

Well-trained and experienced workers.

WEAKNESSESSTRENGTHS


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A huge number of potential customers

are found unaware of the products of

Kotak Mahindra Bank and if they get

aware, could appear as a current andsaving account of Kotak Mahindra

Bank and if they are get aware, could

appear as a very good opportunity to

the bank.

Other main competitor of Kotak

Mahindra Bank like ICICI HDFC Bank,

SBI

ICICI is the major player found inMoradabad is to offer anywhere banking

in Moradabad.

Higher growth for competitor Banks.

Better facilities provided by the

competitor to their customer.

OPPORTUNITIESTHREATS


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LIMITATIONS

Un co-operative behavior & negative attitude of theclients.

Lack of free time from the point of view of clients.

Artificial behavior & lack of knowledge of respondents.

Lack of source of information.

Lack of trust & confidence in respondents.

Environment conditions due to high temperature &

humidity. Because of the electricity problem too much time was

consumed in the preparation of the report.


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RECOMMENDATIONS

Bank should smoothen its functioning.

Bank should maintain a good and long relationship with itscustomers.

Bank should offer cash deposit limit in Moradabad. Bank should hire more marketing executive to get customer

aware of the products of Kotak Mahindra Bank.

Bank should expand its network.

Bank relation program should be held at regular interval.

Bank Should send mail as well as e-mails on time.


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PRESENTED BY

KAZMI UZAIR SULTAN

ROLL NO-11 MBA W 64

EN.NO- GB1575

the consumer awareness of all the product

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