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CONSUMER PERCEPTION TOWARDS HDFC BANK

LOVELY PROFESSIONAL UNIVERSITY DEPARTMENT OF MANAGEMENT

Report on Summer Training

Consumer Perception towards HDFC Bank: An Empirical Study

Submitted to Lovely Professional University In partial fulfillment of the Requirements for the award of Degree of Master of Business Administration Submitted by:

DEPARTMENT OF MANAGEMENT LOVELY PROFESSIONAL UNIVERSITY PHAGWARA

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CONSUMER PERCEPTION TOWARDS HDFC BANK

ACKNOWLEDGMENT

It gives me immense pleasure to present the report of my project titled Consumer Perception towards HDFC Bank: An Empirical Study. This work would not have been possible without the assistance and guidance of a number of people. I would like to take this opportunity to thank each and every one of them. At first I would like to thank the management of the HDFC Bank for providing me an opportunity to work as summer trainee at HDFC Bank Maharaj Gunj, Srinagar. I express my sincere gratitude to my Project in charge at HDFC Bank for taking keen interest in my project work and giving me valuable guidance at every stage. I also express my sincere gratitude to my project guide Mr. Hitesh Jhanji for guiding me aptly and at every stage of my project.

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Executive Summary This study Consumer Perception towards HDFC Bank: An Empirical Study was conducted in the area of J&K State (Srinagar City). The HDFC Bank is one of the private banks which started its operations in the J&K State (Kashmir Division) in the year 2006 with only one branch in the main city (Srinagar) and today the bank has slowly and steadily widened its network in the both divisions of J&K state with 19 branches, 15 ATMs and many to be inaugurated soon. The main competitor of HDFC bank in Kashmir division is J&K bank; therefore the need arises to know what consumers perceive about HDFC bank. The objectives of this study are: - i) To understand the customers perception on the service delivery of the bank. ii) To know why consumers dont have account with HDFC bank. One of the most important developments in banking sector has been the growth of the financial industry over the past two decades. The benefits of financial industry can be seen in the form of large scale industrial development, increased employment opportunities, higher turnover as well as revenue generation to the government and also increase in export of goods and services. The scope of study for this research is the Srinagar city in which there are currently five branches and ten ATMs of HDFC bank and the sample size for this research is 100.The sampling unit of this research are both HDFC and Non-HDFC customers. The research design used for this research is the descriptive one as this research is a survey based research. The study has used Non- Probability sampling design. Non- Probability sampling involves deliberate selection of a particular unit of the population for constituting a sample. The data collection tool used for this research is the questionnaire and the data was collected from respondents was analyzed using the statistical software SPSS. The SPSS statistical tool used in this research is the Factor Analysis. The Limitation of this study is that the data from the sample may not reflect the universe; since it is restricted only to the Srinagar city and only 100 Respondents. There was also a time limitation. The findings of this research are that the customers of HDFC Bank in the Srinagar area prefer this bank because of the service quality provided by the bank to its customers with they were not getting from the banks already established in the Kashmir division. The services like Net Banking, Credit card, Debit Card and Employee behavior were the main competences of HDFC Bank in the J&K region.

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The customers reason for not having account with HDFC Bank is mainly because of the relationship built with the J&K Bank and other bank was very old. But these banks were lagging behind in providing the better service to their customers. Other reason like the trust built by J&K Bank which is a local bank of the region is very strong than the HDFC Bank. The awareness level of products of HDFC Bank is very less among the customers than the other banks. The HDFC Bank should widen its network of branches and ATMs so that the customers should get easy access to the services of the bank. The number of customer would also increase due to large network and awareness of products should be give to the people through different modes of communication like TV, Radio, SMS, Newspapers, etc.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

TABLE OF CONTENTS

Chapter Number Introduction:-

Chapter Title

Page Number

1.1 Industry Profile 1.2 Indian Banking System 1 1.3 What is Consumer Perception? 1.4 Measuring Consumer Perception 1.5 The Need to Measure Consumer Perception 10-14

Company Profile :3.1 Background 3.2 Business Objectives 3.3 Organizational Goals 2 3.4 History of HDFC 3.5 Business Focus 3.6 HDFC Bank The Organization 3.7 Products & Services 3.8 Performance of HDFC Bank 15-22

Review of Literature Research Methodology 4.1 Problem Statement

23-26

4 4.2 Objective of Study 4.3 Need & Importance of the study

27-31

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4.4 Scope of Study 4.5 Research Design 4.6 Sampling Tool 4.7 Data Collection Method 4.8 Statistical Tool Data Interpretation 5 5.1 Factor Analysis Findings & Conclusion 6.1 Findings from HDFC Customers 6 6.2 Findings from Non-HDFC Customers 6.3 Suggestions & Recommendations 6.4 Conclusion 48-51 32-47

References & Bibliography

52

List of Tables & Graphs

53-54

Copy of Questionnaire

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Chapter One

Introduction

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1.1 INDUSTRY PROFILE The Banking Regulation Act 1949 defines banking as accepting the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise and withdraw able by cheque, draft, order otherwise. The essential function of a bank is to provide services related to the storing of value and the extending credit. The evolution of banking dates back to the earliest writing, and continues in the present where a bank is a financial institution that provides banking and other financial services. Currently the term bank is generally understood an institution that holds a banking license. Banking licenses are granted by financial supervision authorities and provide rights to conduct the most fundamental banking services such as accepting deposits and making loans. There are also financial institutions that provide certain banking services without meeting the legal definition of a bank, a so called non-bank. Banks are a subset of the financial services industry. The word Bank is derived from the Italian word banco signifying a bench, which was erected in the market place, where it was customary to exchange money; the first bench having been established in Italy A.D. 808. The basic functions of banks are to accept deposits, lend money and act as collecting and paying agents. The Bank of Barcelona in Spain (1401) was perhaps the first institution that could be called a bank in this sense. The terms bankrupt and "broke" are similarly derived from banca rotta, which refers to an out of business bank, having its bench physically broken. Money lenders in Northern Italy originally did business in open areas, or big open rooms, with each lender working from his own bench or table. Typically, a bank generates profits from transaction fees on financial services or the interest spread on resources it holds in trust for clients while paying them interest on the asset.

1.2 INDIAN BANKING SYSTEM The Reserve Bank of India (RBI) is India's central bank. It is the sole authority for issuing bank notes and the supervisory body for banking operations in India. It supervises and administers exchange control and banking regulations, and administers the government's monetary policy. It is also responsible for granting licenses for new bank branches. Though the banking industry is currently dominated by public sector banks, numerous private and foreign banks exist. India's government-owned banks dominate the market. Their performance has been mixed, with a few being consistently profitable. Several public sector

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banks are being restructured, and in some the government either already has or will reduce its ownership.

1.2.1 Private and foreign banks The RBI has granted operating approval to a few privately owned domestic banks; of these many commenced banking business. Foreign banks operate more than 150 branches in India. The entry of foreign banks is based on reciprocity, economic and political bilateral relations. An inter-departmental committee approves applications for entry and expansion.

1.3 WHAT IS CUSTOMER PERCEPTION? Customer Perception is an important component of an organizations relationship with their customers. Customer satisfaction is a mental state which results from the customers comparison of expectations prior to a purchase with performance perception after a purchase. Strong customer service helps an organization to reach up to customers expectations. Customer Perception on Service: Customer Service is the service provided in support of a companys core products. Customer Service most often includes answering questions, taking orders, dealing with billing issues, handling complaints, and perhaps scheduling maintenance or repairs. Customer Service can occur on site, or it can occur over the phone or via the internet. Many companies operate customer service call centers, often staffed around the clock. Typically there is no charge for customer service. Quality customer service is essential to building customer relationships. It should not, however, be confused with the services provided for sale by a company. Services tend to be more intangible than manufactured products. There is a growing market for services and increasing dominance of services in economies worldwide. There are generally two types of customer expectations. The highest can be termed as desired service: the level of service the customer hopes to receive. The threshold level of acceptable service which the customers will accept is adequate service. Yet there is hard evidence that consumers perceive lower quality of service overall and are less satisfied. Possible reasons may be: With more companies offering tiered service based on the calculated profitability of different market segments, many customers are in fact getting less service than they have in past. Increasing use by companies of self-service and technology-based service is perceived as less service because no human interaction or human personalization is provided.

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Technology-based services (Automated Voice Systems, Internet-Based Services, Technology Kiosks) are hard to implement, and there are many failures and poorly designed systems in place. Customer expectations are higher because of the excellent service they receive from some companies. Thus they expect the same from all and are frequently disappointed. Organizations have cut costs to the extent that they are too lean and are too understaffed to provide quality service. The intensely competitive job market results in less skilled people working in frontline service jobs; talented workers soon get promoted or leave for better opportunities. Many companies give lip service to customer focus and service quality; but they fail to provide the training, compensation, and support needed to actually deliver quality service. Delivering consistent, high-quality service is not easy, yet many companies promise it.

1.4 Measuring Customer Perception in the Banking Industry Banking operations are becoming increasingly customer dictated. The demand for 'banking super malls' offering one-stop integrated financial services is well on the rise. The ability of banks to offer clients access to several markets for different classes of financial instruments has become a valuable competitive edge. Convergence in the industry to cater to the changing demographic expectations is now more than evident. Banc assurance and other forms of cross selling and strategic alliances will soon alter the business dynamics of banks and fuel the process of consolidation for increased scope of business and revenue. The thrust on farm sector, health sector and services offers several investment linkages. In short, the domestic economy is an increasing pie which offers extensive economies of scale that only large banks will be in a position to tap. With the phenomenal increase in the country's population and the increased demand for banking services; speed, service quality and customer satisfaction are going to be key differentiators for each bank's future success. Thus it is imperative for banks to get useful feedback on their actual response time and customer service quality aspects of retail banking, which in turn will help them take positive steps to maintain a competitive edge. The working of the customer's mind is a mystery which is difficult to solve and understanding the nuances of what perception the customer has to attain satisfaction is, a challenging task. This exercise in the context of the banking industry will give us an insight into the parameters of customer satisfaction and their measurement. This vital information will help us to build satisfaction amongst the customers and customer loyalty in the long run

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which is an integral part of any business. The customer's requirements must be translated and quantified into measurable targets. This provides an easy way to monitor improvements, and deciding upon the attributes that need to be concentrated on in order to improve customer satisfaction. We can recognize where we need to make changes to create improvements and determine if these changes, after implemented, have led to increased customer satisfaction.

1.5 The Need to Measure Customer Perception: Satisfied customers are central to optimal performance and financial returns. In many places in the world, business organizations have been elevating the role of the customer to that of a key stakeholder over the past twenty years. Customers are viewed as a group whose satisfaction with the enterprise must be incorporated in strategic planning efforts. Forwardlooking companies are finding value in directly measuring and tracking customer satisfaction as an important strategic success indicator. Evidence is mounting that placing a high priority on customer satisfaction is critical to improved organizational performance in a global marketplace. With better understanding of customers' perceptions, companies can determine the actions required to meet the customers' needs. They can identify their own strengths and weaknesses, where they stand in comparison to their competitors, chart out path future progress and improvement. Customer satisfaction measurement helps to promote an increased focus on customer outcomes and stimulate improvements in the work practices and processes used within the company. When buyers are powerful, the health and strength of the company's relationship with its customers its most critical economic asset is its best predictor of the future. Assets on the balance sheet basically assets of production are good predictors only when buyers are weak. So it is no wonder that the relationship between those assets and future income is becoming more and more tenuous. As buyers become empowered, sellers have no choice but to adapt. Focusing on competition has its place, but with buyer power on the rise, it is more important to pay attention to the customer.

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Chapter Two

Company profile

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2.1 Background HDFC was incorporated in 1977 with the primary objective of meeting a social Need that of promoting home ownership by providing long-term finance to households for their housing needs. HDFC was promoted with an initial share capital of Rs. 100 million. 2.2 Business Objectives The primary objective of HDFC is to enhance residential housing stock in the Country through the provision of housing finance in a systematic and professional Manner, and to promote home ownership. Another objective is to increase the flow of resources to the housing sector by integrating the housing finance sector with the overall domestic financial markets. 2.3 Organizational Goals HDFCs main goals are to:a) Develop close relationships with individual households. b) Maintain its position as the premier housing finance institution in the country. c) Transform ideas into viable and creative solutions. d) Provide consistently high returns to shareholders. e) To grow through diversification by leveraging off the Existing client. 2.4 HISTORY OF HDFC BANK The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalization of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations As a Scheduled

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Commercial Bank on 16th January 1995. In the year 1998 HDFC Bank had tied up with the Ahmadabad Stock Exchange (ASE) to act as its clearing bank.

2.5 Business Focus:HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build sound customer franchises across distinct businesses so as to be the preferred provider of banking services for target retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent with the bank's risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. Subsidiary and Associate Companies:The subsidiaries of HDFC consists of 1. HDFC Bank. 2. HDFC Mutual Fund. 3. HDFC Standard Life Insurance Company. 4. HDFC Realty. 5. HDFC Chubb General Insurance Company Limited. 6. Intel net Global Services Limited. 7. Credit Information Bureau (India) Limited. 8. Other Companies Co Promoted by HDFC HDFC Trustee Company Ltd. GRUH Finance Ltd. HDFC Developers Ltd. HDFC Venture Capital Ltd. HDFC Venture Trustee Company Ltd HDFC Securities Ltd. HDFC Holding Ltd. Home Loan Services India Pvt. Ltd.

2.6 HDFC BANK

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The Organization:The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalization of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations As a Scheduled Commercial Bank on 16th January 1995. In the year 1998 HDFC Bank had tied up with the Ahmadabad Stock Exchange (ASE) to act as its clearing bank. 2.6.1 Tech-Savvy HDFC Bank has always prided itself on a highly automated environment, be it in terms of information technology or communication systems. All the braches of the bank boast of online connectivity with the other, ensuring speedy funds transfer for the clients. At the same time, the bank's branch network and Automated Teller Machines (ATMs) allow multi-branch access to retail clients. The bank makes use of its up-to-date technology, along with market position and expertise, to create a competitive advantage and build market share.

2.6.2 Business Segments The Bank has three primary business segments: banking, wholesale banking and treasury. The retail banking segment serves retail customers through a branch network and other delivery channels. This segment raises deposits from customers and makes loans and provides other services with the help of specialist product groups to such customers. The wholesale banking segment provides loans, non-fund facilities and transaction services to corporate, public sector units, government bodies, financial institutions and medium-scale enterprises. The treasury segment includes net interest earnings on investments portfolio o f the Bank. As of March 31, 2011, the Bank operated1, 805 branches in 779 cities and 4,256 automated teller machines (ATMs). 2.6.3 Capital Structure:The authorized capital of HDFC Bank is Rs.450 crore (Rs.4.5 billion). The paid-up capital is Rs.311.9 crore (Rs.3.1 billion). The HDFC Group holds 22.1% of the bank's equity and about 19.4% of the equity is held by the ADS Depository (in respect of the bank's American

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Depository Shares (ADS) Issue). Roughly 31.3% of the equity is held by Foreign Institutional Investors (FIIs) and the bank has about 190,000 shareholders. The shares are listed on The Stock Exchange, Mumbai and the National Stock Exchange.

2.7 Products and Services HDFC Bank Product range: The following is the product range offered at HDFC: While various deposit products offered by the bank are assigned different names, the deposit products can be categorized broadly into the following types. Definition of major deposit schemes are as under: 1. Demand deposits: "Demand Deposits" means a deposit received by the bank which is withdrawn able on demand; Savings Account: "Savings Deposits" means a form of Demand Deposit which is subject to restrictions as to the number of withdrawals as also the amounts of withdrawals permitted by the bank during any specified period; HDFC provides with saving bank account with the usual facilities, and one also gets a free ATM card, interbank banking, bill payment facilities, phone banking and mobile banking. 2. Term Deposits: "Term Deposit" means a deposit received by the bank for a fixed period withdraw able only after the expiry of the fixed period and includes deposits such as Recurring / Double Benefit Deposits. 3. Notice Deposit: ''Notice Deposit'' means Term Deposit for a specific period but which can be withdrawn on giving at least one complete banking day's notice. 4. Current Account: "Current Account" means a form of Demand Deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed

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amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit; The account holder gets a personalized cheque book, monthly account statements, and Inter-branch banking.

5. Corporate Account:These are more commonly known as Salary Accounts. These are account in HDFC bank with zero balance. These are given to salaried people. These accounts are opened by the employer for the employees to deposit the salary of the employee directly to the account. 6. HDFC Bank Preferred:A preferential Savings Account where in, one is assigned with a dedicated Relationship Manager, whos youre the one point contact. One also get privileges like fee waivers, enhanced ATM withdrawal limit, priority locker allotment, free Demat Account and lower interest rates on loans. 7. Sweep-In Account:A Fixed Deposit linked to ones Savings Account. So, even if ones Savings Account runs a bit short, one can issue a cheque (or use ATM Card). 8. Super Saver Account:It gives one an overdraft facility up to 75% of ones fixed deposit. In an emergency, you can access your funds while your fixed deposit continues to earn high interest. 9. HDFC Bank plus:Apart from Regular and Premium Current Accounts HDFC also has HDFC Bank Plus, a Current Account and then something extra for the HDFC bank customers. One can transfer up to Rs. 50 lakh every month at no extra charges, between the four metros. Demat Account: One can conduct hassle-free transactions on the stock market for ones shares. The shares held by the customer are protected from damage, loss and theft, by maintaining these shares in electronic form. This account can be accessed through Internet too.

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Loans: There are a variety of loan schemes offered like personal loans, new car loans, used car loans, loan against shares, gold loan, consumer loans, two wheeler loans, and home loans.

2.8 Performance of HDFC Bank Awards and Achievements: HDFC Bank began operations in 1995 with a simple mission: to be a "World-class Indian Bank". They realized that only a single-minded focus on product quality and service excellence would help them get there. Today, we are proud to say that we are well on our way towards that goal. It is extremely gratifying that our efforts towards providing customer convenience have been appreciated both nationally and internationally. 2011

Asian Banker BloombergUTV's Financial Leadership Awards 2011 IBA Banking Technology Awards 2010

Strongest Bank in Asia Pacific Best Bank

Winner 1) Technology Bank of the Year 2) Best Online Bank 3) Best Customer Initiative 4) Best Use of Business Intelligence 5) Best Risk Management System Runners Up Best Financial Inclusion Excellence in Customer Experience

IDC FIIA Awards 2011

2010 Outlook Money 2010 Best Bank

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Awards

Business world Best Bank Awards 2010

Best Bank (Large)

Teacher's Achievement Mr. Aditya Puri Awards 2010 (Business)

The Banker and PWM 2010 Global Private Banking Awards Economic Times Awards for Corporate Excellence 2010 Forbes Asia NDTV Business Leadership Awards 2010 The Banker Magazine MIS Asia IT Excellence Award 2010 Dun & Bradstreet Banking Awards 2010

Best Private Bank in India

Business Leader of the Year - Mr. Aditya Puri

Fab 50 Companies - 5th year in a row Best Private Sector Bank

World's Top 1000 Banks BEST BOTTOM-LINE I.T. Category

Overall Best Bank Best Private Sector Bank Best Private Sector Bank in SME Financing Institutional Investor Magazine Poll IDRBT Technology 2009 Awards HDFC Bank MD, Mr. Aditya Puri among "Asian Captains of Finance 2010"

Winner - 1) IT Infrastructure 2) Use of IT within the Bank Runners-up - IT Governance (Large Banks)

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Chapter Three

Review Of

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Literature

Review of Literature Bauer , Malike and Falik , (2006) study revealed that the quality of e-banking portals has a significant impact on the consumers quality perception in the internet providing banks which serves a promising start for the best establishment of an effective quality management .The empirical model study validated a measurement model for web quality model based on security , trust , basic service quality , value , trust ,responsiveness , buying service quality to achieve the best customer satisfaction.

Reeti , Sanjay and Malhotra,(2009) investigated about the customers perceptions about banking services in an emerging economy for which the various determinants affecting the customer perception as well as attitude towards banking services were predicted through study that was conducted on the respondents taken from Northern part of India .Major findings depicted that customer perceptions are influenced by the usage of e-banking services by the kind of account they hold, age , profession , attached high degree of usefulness to the balance enquiry service among e-banking services .It was also found that security and truth are the most important factors in affecting their satisfaction levels and slow transaction problem speed was the most frequent problem faced by majority of Customers.

Malhotra, Pooja and Singh, (2010) study examined various factors affecting the banking services in India .The purpose of the study was to help in filling the gap in knowledge about Banking Landscape in India. The study utilized sample of 82 banks

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of India using the technique of Multiple Regression to explore the determinants .The study reveled that bankers as well as society perceive that banking services lag in terms of providing different products and services.

Kun-ho Lee, Shakir Ullah, (2011) studied consumer attitude towards Islamic Banking in Pakistan. The purpose of this paper is to examine the different motivational factors that lead to customers' Islamic bank selection decision in Pakistan. The paper presented descriptive statistics and cross-tabulation analysis based on data collected from 357 customers. The findings revealed that Islamic banks' customers highly value Shari'a compliance in their banks and that non-compliance with Shari'a principles leads to disgruntled customers. Goitom Tesfom, Nancy J. Birch, (2011) studied to examine whether switching barriers in the retail banking industry affect different age groups differently. Questionnaires were administered to 188 bank customers of different age groups, measuring their perception of variables related to relational benefits, switching costs, availability and attractiveness of alternatives, service recovery and retention. Results from independent two-sample t-tests and logistic regression support all five hypotheses, confirming that young and older bank customers differ significantly in their perception of switching barriers: relational benefits, switching costs, availability and attractiveness of alternatives, service recovery and the duration of time they intend to end their relationship with their banks. In terms of practice the findings in this research highlight the need for managers to design different switching barrier packages for each customer age group. Bedman Narteh, Nana Owusu-Frimpong, (2011) study aimed to offers a deeper insight into bank selection of Ghanaian students so as to offer bank managers the opportunity to tailor-measure programmes aimed at attracting and retaining customers. The study employed both qualitative and quantitative methods to investigate the problem. The drop and pick convenience sampling method adopted resulted in 223 completed questionnaires. The mean ranking and factor analysis methods were employed to identify the major factors that influence the respondent bank selection. Over all, student customers consider image, attitude and behavior of staff, core service delivery and technology-related factors as the major issues that influence consumers' decision to open and maintain an account. In a market where consumers respond differently to a marketing offer, market segmentation becomes a necessity and therefore differences in male and female consumers' selection criteria emanating from

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this study provide an excellent opportunity for the banks to adopt segmentation-based strategies to serve the customers. Riadh Ladhari, Ines Ladhari, Miguel Morales, (2011) The aim of their paper was to compare perceptions of bank service quality among Tunisian and Canadian customers, and to determine which dimensions of service quality make the greatest contribution to overall customer satisfaction and loyalty. Data were collected using self-administered questionnaires from two convenience samples of bank customers (250 in Canada and 222 in Tunisia). Service quality was measured using the five SERVQUAL dimensions of tangibles, reliability, responsiveness, assurance, and empathy. Data were analyzed using confirmatory factor analysis, ANOVA and linear regression. Respondents in both countries reported high levels of perceived service quality in banks. However, Canadians reported higher perceived service quality than Tunisians for all five SERVQUAL dimensions, and for 21 of the 22 individual items. In the Canadian sample, empathy and reliability were found to be the most important predictors of satisfaction and loyalty, while in the Tunisian sample, reliability and responsiveness were the most important predictors of satisfaction and loyalty. Sergios Dimitriadis, et al (2011) studied to investigate the possibility of using trust in two self-service bank channels: internet, and phone banking, to segment potential users of these channels. Using data from a survey of 762 real bank customers discriminant analysis is used to test variables differentiating two groups of customers having, respectively, high and low trust in internet and phone banking. Results showed that the groups of high and low channel-trustors are different in a number of attitudinal, behavioral and psychographic criteria. In addition, the two groups react differently in terms of intention to use internet, and phone banking. Sergios Dimitriadis (2011) studied to explore benefits customers expect from a long-term relationship with their bank and the costs associated with such a relationship; it further tests these relational benefits and costs as segmentation variables. A qualitative study based on three focus groups was designed to provide initial input on different types of expected relational benefits and costs. Then, quantitative data were collected from a survey of 209 real bank customers. Analysis revealed five types of expected benefits and two types of costs. Four clusters were formed out of these seven expected benefits/costs. These clusters are also

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different on demographic, behavioral and psychographic variables and present clear and consistent relational profiles. Sandy Ng, et al (2011) studied to investigate the effects of relationship benefits on relationship quality and aspects of service quality, namely technical and functional quality, and the subsequent influence on word-of-mouth behavior. The paper reports results from a structural equation model that utilizes data from 591 consumers across a range of services. The findings highlight the important role of relationship benefits in driving customer perceptions of technical, functional and relationship quality. While confidence, social and special treatment benefits drive technical and functional quality, it is only confidence benefits that drive relationship quality. Furthermore, it is found that functional and relationship quality drive word-of-mouth behavior.

Chapter Four

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Research Methodology

4.1 Problem Statement: - The HDFC Bank is one of the private banks which started its operations in the J&K State in the year 2006 with only one branch in the main city (Srinagar) and today the bank has slowly and steadily widened its network in the both divisions of J&K state with 19 branches, 15 ATMs and many to be inaugurated soon. The main competitor of HDFC bank in Kashmir division is J&K bank; therefore the need arises to know what consumers perceive about HDFC bank. Title: - The title of study is Consumer Perception towards HDFC bank An Empirical Study.

4.2 Objectives of the Study:1) To understand the customers perception on the service delivery of the bank. 2) To know why consumers dont have account with HDFC bank.

4.3 Need and Importance of the Study:One of the most important developments in banking sector has been the growth of the financial industry over the past two decades. The benefits of financial industry can be seen in
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the form of large scale industrial development, increased employment opportunities, higher turnover as well as revenue generation to the government and also increase in export of goods and services. Banking industry in India has undergone a process of evolution with the package of time. To count or to depend on a bank merely by the function it is supposed to perform would be insufficient in the world that we live today. Investments play a vital role on the part of the customers. A real investor does not simply throw his or her money random investment; he or she performs through analysis and commits capital only when there is a reasonable expectation of profit. Hence they both are interdependent i.e., it all depends upon the customer. Customer knows what to expect. Today banks have a relationship management approach with their clients. Banks are offering more customized solutions to their clients. The need of the hour is not only to introduce more value added products for which the customers are willing to pay here but also to innovate & enter new segments like small business & periodical finance. Everything resolves around the customer and banks via with their innovative and quality products to suit their clients. Today the bottom line for any customer is convenience understanding and evaluating the customers perception on the service & products of a bank has without doubt become a need, which propels the body to structure itself for better performance and service. Thus delivering high quality service to clients is just as important as delivering performance that meets or exceeds their expectations. It is in this context that a study is necessary to know about awareness levels on the services provided by the HDFC Bank and the customer perception towards the bank.

4.4 Scope of Study:The scope of study for this research is the Srinagar city in which there are currently five branches and ten ATMs of HDFC bank and the sample size for this research is 100.

4.5 Research Design:The design used for this research is descriptive research methodology. The term descriptive research refers to the type of research question, design, and data analysis that will be applied to a given topic. Descriptive statistics tell what is, while inferential statistics try to determine cause and effect.

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Descriptive research can be either quantitative or qualitative. It can involve collections of quantitative information that can be tabulated along a continuum in numerical form, such as scores on a test or the number of times a person chooses to use a-certain feature of a multimedia program, or it can describe categories of information such as gender or patterns of interaction when using technology in a group situation. Descriptive research involves gathering data that describe events and then organizes, tabulates, depicts, and describes the data collection.

4.6 Sampling Tool:The sampling tool used in this research is Questionnaire. A questionnaire is a means of eliciting the feelings, beliefs, experiences, perceptions, or attitudes of some sample of individuals. As a data collecting instrument, it could be structured or unstructured. The questionnaire is most frequently a very concise, preplanned set of questions designed to yield specific information to meet a particular need for research information about a pertinent topic. Advantages:Economy - Expense and time involved in training interviewers and sending them to interview are reduced by using questionnaires. Uniformity of questions - Each respondent receives the same set of questions phrased in exactly the same way. Questionnaires may, therefore, yield data more comparable than information obtained through an interview. Standardization - If the questions are highly structured and the conditions under which they are answered are controlled, then the questionnaire could become standardized. Disadvantages:Respondents motivation is difficult to assess, affecting the validity of response. Unless a random sampling of returns is obtained, those returned completed may represent biased samples.

4.6.1 Sampling Design:The study has used Non- Probability sampling design.

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Non- Probability sampling involves deliberate selection of a particular unit of the population for constituting a sample.

4.6.2 Sampling Method:The sampling method used in this study is Convenience sampling. Convenience sampling is a non-probability sampling technique where subjects are selected because of their convenient accessibility and proximity to the researcher. The subjects are selected just because they are easiest to recruit for the study and the researcher did not consider selecting subjects that are representative of the entire population. In all forms of research, it would be ideal to test the entire population, but in most cases, the population is just too large that it is impossible to include every individual. This is the reason why most researchers rely on sampling techniques like convenience sampling, the most common of all sampling techniques. Many researchers prefer this sampling technique because it is fast, inexpensive, easy and the subjects are readily available.

4.7 Data Collection Method:-

Primary Data: The primary data was collected by means of a survey. Questionnaire was prepared and the sample unit was approached to fill up the questionnaire. The filled up information was later analyzed to obtain the required information. Secondary Data: In order to have a proper understanding of the sector of Banking, an in depth study was done from the various books, magazines, journals and articles written on the subject. Information was also taken from the internet related to industry, company, competitors,etc.

4.8 Statistical Tool The study has used statistical tool for the analysis of data. The tool used in this research is the Factor Analysis tool which is used for data reduction. Factor analysis is a method for investigating whether a number of variables of interest Y1 , Y2 , :: :, Yl, are linearly related to a smaller number of unobservable factors F1, F2, : ::, Fk .
Factor analysis is a statistical method used to describe variability among observed variables in terms of a potentially lower number of unobserved variables called factors. In other words, it is possible, for

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CONSUMER PERCEPTION TOWARDS HDFC BANK example, that variations in three or four observed variables mainly reflect the variations in a single unobserved variable, or in a reduced number of unobserved variables. Factor analysis searches for such joint variations in response to unobserved latent variables. The observed variables are modeled as linear combinations of the potential factors, plus "error" terms. The information gained about the interdependencies between observed variables can be used later to reduce the set of variables in a dataset. Factor analysis originated in psychometrics, and is used in behavioral sciences, social sciences, marketing, product management, operations research, and other applied sciences that deal with large quantities of data.

4.9 Limitation of the Study The data from the sample may not reflect the universe; since it is restricted only to the area Srinagar city and only 100 Respondents. There was also a time limitation. As the topic is wide, all matters regarding the study could not be analyzed.

Chapter Five

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Data interpretation

Factor Analysis:KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy. Bartlett's Test of Sphericity Approx. Chi-Square df Sig. .551 238.155 105 .000

Table 5.1 Interpretation:In order to determine if the data is appropriate for factor analysis, it is required to check the data adequately for analysis. This is accomplished by using the KMO and Bartletts test. A

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KMO value of 0.90 is best and below 0.50 is unacceptable. The figure for KMO in the above table (Table 5.1) i.e. (.551) is greater than 0.50 (minimum value) which means data is appropriate for factor analysis.

Communalities Initial Ease of opening new account Ease of operating account Minimum balance required (AQB) Security of money at bank Attitude of bank staff Location of bank branches Listening to complaints Feeling of warmth & friendliness 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 Extraction .783 .655 .711 .652 .480 .557 .776 .620

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CONSUMER PERCEPTION TOWARDS HDFC BANK

Credit card facility provided by the bank Debit card facility provided by the bank Net banking facility provided by the bank Loan facility provided by the bank Reputation of the bank Interest rates provided by the bank Effectiveness of Customer care cell

1.000 1.000 1.000 1.000 1.000 1.000 1.000

.842 .648 .721 .541 .816 .579 .610

Extraction Method: Principal Component Analysis.

Table 5.2 Interpretation:From the above communalities table the factors having value closer to 1(Initial) are Ease of opening new account (.738), Minimum Balance Required (AQB) (.711), Listening to Complaints (.776), Credit card facility (.842), Net Banking facility (.721) and Reputation of bank (.816) which these factors were considered the most important factors.

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Graph 5.1 Interpretation:The above graph represents the combination of the Eigen values and the component numbers. The graph is useful for determining how many factors to retain, where the curve start to flat it highlights the interest point. it can be seen that the curve begins to flatten between factors 2 and 3.The factor 6 has an Eigen value less than 1 so only five factors have been retained.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

Component Matrix

Component 1 Ease of opening new account .227 .328 .557 .345 .288 .530 .517 .471 2 .837 .659 .012 .291 .328 -.384 -.102 -.279 3 -.107 -.216 .182 .164 .219 -.245 -.042 .325 4 -.036 .185 -.604 .549 -.429 .215 -.385 .369 5 .085 -.104 -.015 -.287 -.208 .059 .427 .004 6 -.111 -.147 -.052 .193 .117 -.139 .407 .280

Ease of operating account Minimum balance required (AQB) Security of money at bank Attitude of bank staff Location of bank branches Listening to complaints Feeling of warmth & friendliness Credit card facility provided by the bank Debit card facility provided by the bank Net banking facility provided by the bank Loan facility provided by the bank Reputation of the bank Interest rates provided by the bank Effectiveness of Customer care cell

.031

.222

-.638

.094

.393

.470

-.077

.675

.280

.090

-.023

.315

.243

.084

.770

.042

.221

-.103

.598 .388 .574

.171 -.022 -.175

-.268 .122 -.308

.002 .306 -.093

-.173 .651 -.274

-.230 -.365 -.202

.451

-.417

.036

.124

-.292

.361

Extraction Method: Principal Component Analysis. a. 6 components extracted.

Table 5.3 Interpretation:The table shows the combination of 15 variables. The higher the absolute value of loading the more the factor contributes to variable. The gape of the variables is less than 0.5 this makes easy to analyze the table. We cover up all the values having values less than 0.5.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

Rotated Component Matrix

Component 1 Ease of opening new account Ease of operating account Minimum balance required (AQB) Security of money at bank Attitude of bank staff Location of bank branches Listening to complaints Feeling of warmth & friendliness .819 .785 .016 .505 .276 -.116 -.141 -.087 2 -.061 .179 .258 .005 -.052 .618 .084 .075 3 .187 -.006 .792 -.155 .592 -.048 .637 .064 4 -.222 -.032 -.012 .603 .026 .277 .177 .735 5 .105 .034 .072 -.010 -.180 .262 .238 .247 6 .114 .067 -.110 -.095 -.130 .118 .504 -.033

Credit card facility provided by the bank Debit card facility provided by the bank Net banking facility provided by the bank Loan facility provided by the bank Reputation of the bank Interest rates provided by the bank Effectiveness of Customer care cell

.182

-.012

-.106

-.039

-.020

.892

.555

-.552

.114

.123

-.079

.027

.058

-.310

.318

.265

.515

-.429

.402 .086 .076

.584 .164 .720

.178 -.049 .188

.070 .032 .116

.049 .881 -.070

.009 .047 -.019

-.210

.304

.143

.651

-.163

.051

Rotation Method: Varimax with Kaiser Normalization.

Table 5.4 Interpretation:The idea of rotation is to reduce the number of factors of those variables which have high rating it makes the interpretation of the analysis easier. The next step is to look at the content of questions that load on to some factor so as to identify the common themes. In one the common name given to ease of opening new account and operating account is Comfortable.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

Do you have an account with HDFC bank?

Frequency Valid yes No Total 79 21 100

Percent 79.0 21.0 100.0

Valid Percent 79.0 21.0 100.0

Cumulative Percent 79.0 100.0

Table 5.5

Graph 5.2 Interpretation:The above graph indicates that 79% of the respondents were having account with HDFC bank and the rest 21% were not having account with HDFC bank. This shows that the number of account holders of HDFC bank is good numbers in Srinagar city as the bank has opened several branches in the Srinagar city and ATMs as well.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

Which type of account do you have?

Frequency Valid Current A/c Saving A/c Demat A/c Salary A/c Total Missing Total System 22 42 6 9 79 21 100

Percent 22.0 42.0 6.0 9.0 79.0 21.0 100.0

Valid Percent 27.8 53.2 7.6 11.4 100.0

Cumulative Percent 27.8 81.0 88.6 100.0

Table 5.6

Graph 5.3 Interpretation:The above graph indicates that the out of 100 respondents 22 were having current A/c, 42 were having saving account, 6 were having demat A/c and 9 were having salary accounts in HDFC bank. This shows that the saving A/c holders are in large numbers as compared to other account holders.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

Time you are associated with HDFC bank? Cumulative Frequency Valid 3 Months 6 Months 1 Year More Than 1 Year Total Missing Total System 13 31 20 15 79 21 100 Percent 13.0 31.0 20.0 15.0 79.0 21.0 100.0 Valid Percent 16.5 39.2 25.3 19.0 100.0 Percent 16.5 55.7 81.0 100.0

Table 5.7

Graph 5.4 Interpretation:The above graph indicates that 40% of the respondents are associated with HDFC bank from last 6months while 25% respondents are associated with HDFC bank from one year. This show that the number of account holders has increased in the Srinagar city as the bank widened its network in this region.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

Do you have an account with other bank?

Frequency Valid Yes No Total Missing Total System 66 13 79 21 100

Percent 66.0 13.0 79.0 21.0 100.0

Valid Percent 83.5 16.5 100.0

Cumulative Percent 83.5 100.0

Table 5.8

Graph 5.5 Interpretation:The above graph indicates that the respondents who are having account with HDFC bank, 80% are having account with other bank and the 20% are having HDFC bank account only. This shows that the customers of other banks have switched over to HDFC bank and the number tends to increase day by day.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

In which bank you have an account? Cumulative Frequency Valid J&K Bank SBI PNB J&K Co-operative Bank Total Missing Total System 29 12 22 3 66 34 100 Percent 29.0 12.0 22.0 3.0 66.0 34.0 100.0 Valid Percent 43.9 18.2 33.3 4.5 100.0 Percent 43.9 62.1 95.5 100.0

Table 5.9

Graph 5.6 Interpretation:The above graph indicates that the HDFC accounts holders are having account with J&K bank(43%), SBI(18%),PNB(33%) and 6% are having account with J&K Co-operative bank. This shows that maximum customers of HDFC bank are having account with J&K bank and in future the number is going to increase with the opening of more branches.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

Reason for not having account with HDFC bank? Cumulative Frequency Valid Security Less No. of branches Unawareness of products Reputation of the bank Satisfied with your bank Total Missing Total System 3 8 3 2 5 21 79 100 Percent 3.0 8.0 3.0 2.0 5.0 21.0 79.0 100.0 Valid Percent 14.3 38.1 14.3 9.5 23.8 100.0 Percent 14.3 52.4 66.7 76.2 100.0

Table 5.10

Graph 5.7 Interpretation:The above graph indicates that the reason why customers are not having account with HDFC bank.40% of the respondents say that due to the less number of branches they dont prefer banking with HDFC bank.25% of respondents say they are satisfied with the banks in which they have account.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

Gender Frequency Valid Male Female Total 87 13 100 Percent 87.0 13.0 100.0 Valid Percent 87.0 13.0 100.0 Cumulative Percent 87.0 100.0

Table 5.11

Graph 5.8 Interpretation:The above graph indicates that out of 100 respondents 85% were male and 15% were female respondents.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

Age Frequency Valid 18-25 25-30 30-35 35-40 40-45 Above 45 Total 6 28 27 24 13 2 100 Percent 6.0 28.0 27.0 24.0 13.0 2.0 100.0 Valid Percent 6.0 28.0 27.0 24.0 13.0 2.0 100.0 Cumulative Percent 6.0 34.0 61.0 85.0 98.0 100.0

Table 5.12

Graph 5.9 Interpretation:The above graph indicates that the maximum number of respondents belonged to the age group 25-30(29%),and 27% belonged to age group 30-35.This shows that 75% respondents belonged to age group 25-40.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

Occupation

Frequency Valid Govt. Employee Private Employee Businessman Total 27 43 30 100

Percent 27.0 43.0 30.0 100.0

Valid Percent 27.0 43.0 30.0 100.0

Cumulative Percent 27.0 70.0 100.0

Table 5.13

Graph 5.10 Interpretation:The above graph indicates that 28% of respondents are Govt. employees while 45% are Private employees and 27% are businessman.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

Monthly Income Frequency Valid 10000-15000 15000-25000 25000-35000 35000-45000 Above 45000 Total 11 40 29 15 5 100 Percent 11.0 40.0 29.0 15.0 5.0 100.0 Valid Percent 11.0 40.0 29.0 15.0 5.0 100.0 Cumulative Percent 11.0 51.0 80.0 95.0 100.0

Table 5.14

Graph 5.11 Interpretation:The above graph indicates that 40% of the respondents are having monthly income in the range of 15000-25000, 28% are having income of range 25000-35000, and 16 % are having income in the range 35000-45000.

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Chapter Six

Findings & Conclusion

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CONSUMER PERCEPTION TOWARDS HDFC BANK

6.1 Findings from HDFC Customers: HDFC Bank has maintained their customer relationship very well and it has proved to be one of their best strategies in todays era of challenge and competitive environment and giving them better chances of growth and survival. HDFC Bank is offering services to its customers as per the expectations of the customers themselves, thereby proving to be their one of the core competency. Currently HDFC Banks main source of revenue is through saving and that of the current accounts which is increasing day by day. HDFC Bank is meeting overall satisfaction of their customer class to a very good level, which is every banks prime concern and I can say that there is always room for improvement as HDFC Bank to take customer satisfaction to the level of excellence. HDFC Bank is meeting standards which they have set in advance as their strategy of providing services to their customers in very les time. It was found that physical evidence is the major contributor that gains the attention of the people when they enter the HDFC Bank but I cannot nullify the facts like employee friendliness and immediate attention also contributes heavily in capturing minds of the customer to a great extent. The sales people of HDFC Bank are dedicated towards the goals of the company in a way where they always cross sell other products to different existing customers thereby giving the company more chances of profit leverage without striving for different sources.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

6.2 Findings from Non-HDFC Bank Customers: It was found that the brand recall of J&K Bank is more than other banks including HDFC Bank in J&K State. Most of the Non-HDFC Bank customers are self motivated and are willing to start banking with HDCF Bank provided they get better services from HDFC Bank as compared to their current bank. More than Fifty percent of Non-HDFC Bank customers perceive HDFC Bank as a bank that is best at providing better service quality to customers. Many Non-HDFC Bank customers do want to continue banking with their current banks because of several reasons like security, brand loyalty, and ongoing transactions with their respective banks.

6.3 Suggestions & Recommendations: HDFC Bank is meeting overall satisfaction needs of their customer class to good extent but they need to take their overall satisfaction to the level of excellence. More than 50% of Non-HDFC Bank customers perceive HDFC Bank as a company that is best at providing better service quality. So, there is an opportunity for HDFC Bank to motivate those Customers and make them switch from their current bank towards the HDFC Bank. Contract sales executives should be trained to pitch the product features and its values added services to make customers product selection convenient. Majority of the Non-HDFC customers complained that they have never been approached by the sales people of HDFC Bank. So, I suggest that the sales people of HDFC Bank need to approach more and more customers and inform them regarding the products of HDFC Bank.

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CONSUMER PERCEPTION TOWARDS HDFC BANK

There are less number of branches and ATMs of HDFC Bank in valley. So, my suggestion would be to open more branches and ATMs across the valley in order to capture more potential customers and thereby increasing their brand awareness.

6.4 Conclusion: Products offered by the other banks are cheaper as compared to the HDFC Bank. The network (branches and ATMs) of HDFC Bank in Srinagar is lagging behind than its competitors like J&K Bank, SBI and PNB. Majority of the respondents are of the opinion that the employees at HDFC Bank have a very professional approach towards their work. The level of service in terms of delivering whatever is promised and fast response in case of problems, are the most important benefits that the customer seek from the bank, they have a Current Account with. Customers in Srinagar are not well aware about HDFC Bank and its services and products, as compared to its competitors. The modern technology like Net Banking, Phone Banking used by the HDFC Bank for providing banking services has sent positive signals in the minds of customers. Most of the customers feel the charges which are associated with AQB maintenance are too high, and the AQB to be maintained is also very high.

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Refrences:Kun-ho Lee, Shakir Ullah (2011),Customers attitude towards Islamic banking in Pakistan, International Journal of Islamic and Middle Eastern Finance and Management, Vol.4, Iss: 2 Goitom Tesfom, Nancy J.Brich (2011), Do switching barriers in the retail banking industry influence bank customers in different age groups differently? Journal of Service Marketing, Vol.25, Iss: 5 Bedran Narteh, Nana Owusu-Fringpong (2011), An Analysis of students knowledge and choice in retail bank selection in sub-Saharan Africa: The Case of Ghana, International Journal of Bank Marketing, Vol.29, Iss: 5 Riadh Ladhari, Ines Ladhari, Miguel Morales (2011), Bank service quality: Comparing Canadian and Tunisian Customer Perceptions, International Journal of Bank Marketing, Vol.29, Iss: 3 Segios Dimitraidis, et al. (2011), Trust based segmentation: Preliminary evidence from technology enabled bank channels, International Journal of Bank Marketing, Vol.29, Iss: 1 Segios Dimitraidis (2011),Customer Relationship expectations and costs as segmentation variable: primary evidence from banking, Journal of Service Marketing, Vol.25, Iss: 4

Bibliography:Donald R Cooper, Pamela S Schindler (2010), Business Research Methods, 9th Ed. New Delhi: Tata McGraw Hill, pp. 138-158

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CONSUMER PERCEPTION TOWARDS HDFC BANK http://www.hdfcbank.com/personal/default.htm http://www.hdfcbank.com/personal/accounts/default.htm http://www.hdfcbank.com/personal/prd_glance.htm http://www.moneycontrol.com/financials/hdfcbank/balance-sheet/HDF01

List of Tables Table Table 5.1 Table 5.2 Table 5.3 Table 5.4 Table 5.5 Table 5.6 Table 5.7 Table 5.8 Table 5.9 Table 5.10 Table 5.11 Table 5.12 Table 5.13 Table 5.14 Page No. 33 34 36 37 38 39 40 41 42 43 44 45 46 47

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List of Graphs Graph Table 5.1 Table 5.1 Table 5.1 Table 5.1 Table 5.1 Table 5.1 Table 5.1 Table 5.1 Table 5.1 Table 5.1 Table 5.1 Page No. 35 38 39 40 41 42 43 44 45 46 47

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Q.No:-__________

Questionnaire
Topic:-Consumer Perception towards HDFC bank: An Empirical Study Dear Respondent, I am an MBA student conducting a research study on the perception of customers regarding the services provided by the HDFC bank. I need some information from you and I assure you the information will be kept confidential and used for research purpose only. Q1:- Do you have an account with HDFC bank? Yes If (No) then Go to Q7. Q2:- Which type of account do you have? Current A/c Saving A/c Demat A/c Salary A/c No

Other (Specify) ______________ Q3:- Time you are associated with HDFC bank? 3 Months 6 Months 1 Year More than 1 Year

Q4:- Rate the following attributes given below according to the scale 1-5 1 Good Attributes Ease of opening new account 1 2 3 4 5 Very Bad 2 Bad 3 Average 4 Good 5 Very

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CONSUMER PERCEPTION TOWARDS HDFC BANK

Ease of operating account Minimum balance required (AQB) Security of money at bank Attitude of bank Staff Location of bank branches Attributes Listening of Complaints Feeling of warmth & friendliness Credit Card facility provided by the bank Debit Card facility provided by the bank Net banking facility provided by the bank Loan facility provided by the bank Reputation of the bank Interest rates provided by the bank Effectiveness of customer care cell 1 2 3 4 5

Q5:- Do you have an account with other bank? Yes No

Q6:- In which bank you have an account? J&K Bank Go to Q8. Q7:- Reason for not having account with HDFC bank? (Only one particular reason) Security Less no. Of branches Unawareness of the products SBI PNB J&K Co-operative Bank

Reputation of the bank Q8:- Gender: Male 25-30 Female 30-35

Satisfied with your bank

Q9:- Age: 18-25

35-40

40-45

Above 45

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Q10:- Occupation: Govt. Employee Q11:- Monthly Income: 10000-15000 Above 45000 15000-25000

Private Employee

Businessman

25000-35000

35000-45000

Thank You for your response.

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