SERVICE

STANDERDIZATION

INDIAN FINANCE COMPANY

Non Banking Institution

Provide services to both Domestic & International Customers
Entered Household market in 1991
Basic fundamentals on which the company runs are :

Interaction
Experience
Follow-up services
Customer to Company relationship

INTRODUCTION TO CASE

Dissatisfied with the services provided by northern city office

Indifferent behavior of concerned personnel's
Delay in agent commission settlement (employees)
Poor response to customer enquiries
Lack of knowledge about product to employees

Competitors
UTI {Unit Trust of India}
Alpha Finance
Other options like-gold , land & bank deposits

Strength

Weakness

Strong base in South &

West
Good Advertisement &
Promotion
Good Teamwork

Bad Responsiveness
Empathy
Defensive attitude
Poorly Trained Employees

Opportunity

Threats

Development in
Northern Market
IT Enabled Services
Organize Conference
Events Inline to
Competitors

Dissatisfied Customers
Private Players
Foreign Entry of players
Competitive Incentives for
Agents

CASE STUDY
RELATED
QUESTIONS

What are the strategies to enhance IFC

quality?
We will train staff
Performance Related Incentive
Regional meet Performance appraisal

Standardization of service?
Website Create-Rules regarding transparency
Pricing disclosed on website for standardization
Physical sales-Online Marketing Via social media

How to motivate agents and make them

problem solvers & experts?
Training agents by External experts
Events conduct on competitors line incentives
Benchmark from good companies salaries given
line

What should be used for benchmarking the

customer or competitor?
Product Development-Customer Benchmark
Product Pricing-Customer
Distribution Network-Competitor
Promotion-Customer + Competitor

QUERIES PLEASE.