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A Project Report On Gap Analysis of Service Delivered To Sundaram Finance Ltd-120808223339-Phpapp02
A Project Report On Gap Analysis of Service Delivered To Sundaram Finance Ltd-120808223339-Phpapp02
EXECUTIVE SUMMARY
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Executive Summary
Sundaram Finance Ltd incorporated in 1954 has grown today into one of the most trusted
financial
services
groups
in
India.
Today, the activities of the group span savings products like Deposits and Mutual Funds, Car and
Commercial Vehicle Finance, Insurance, Home Loans, Software Solutions, Business Process
Outsourcing, Tyre Finance, Fleet Cards and Logistics Services.
The Company was incorporated in 1954, with the object of financing the purchase of commercial
vehicles and passenger cars.
The company was started with a paid-up capital of Rs.2.00 Lakhs and later went public in 1972.
The Company's shares were listed in the Madras Stock Exchange in 1972 and in the National
Stock
Exchange
in
January
1998.
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an
outlet
Subsequently, the equity shares of the Company have been delisted from Madras Stock Exchange
Limited (MSE) with effect from January 27, 2004, in accordance with SEBI (Delisting of
Securities) Guidelines, 2003, for voluntary delisting
The project titled Gap Analysis in terms of service delivered to Sundaram Finance Ltd,
Customers is an attempt to analysis the service delivered to fleet card customers by Sundaram
Finance Ltd. As project deals with the study to know about what consumer expects from company
and how best company can fulfills the desire of a customer. The main aim of the project is to
analysis the consumer expectation, service offered by Sundaram Finance Ltd, even to know about
the satisfaction level of customer by using the Sundaram Finance Fleet Card.
Area of study was limited to Hubli city. The methodology adopted includes descriptive research;
the data was collected through primary method of data selection where in Questionnaire methods
with personal interviews and the results collimated according to the nature of question asked.
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OBJECTIVES:
RESEARCH OBJECTIVES
MAIN OBJECTIVE:
Gap Analysis in terms of service delivered to Sundaram Finance Ltd, Fleet card customers.
SUB-OBJECTIVES
1) Study to know about the consumer expectations towards Sundaram Finance Fleet card.
2) Study to know about the performance of Sundaram Finance fleet card
3) Analysis of petrol outlet provides better service to fleet card customers.
METHDOLOGY
About Pilot Survey Questionnaire: The pilot survey questionnaire was designed under the
guidance of Institute guide Prof. Naresh D and the Company guide Mr. Ramesh Bhatt. The
questionnaire was designed keeping in mind that it should be short ( as the respondents do not have
time) and in same time it was designed to cater all the needs to serve purpose of the survey. The
questionnaire was designed in funnel shape format i.e. starting with general questions and then
getting narrower to get to that point. It was designed in such a way that it also includes sections
like Awareness, Customer expectations, Service delivered by company, satisfaction level about
petrol outlets. The questionnaire also had some briefs, which were uncomfortable for the
respondents to answer like how much kilometer their vehicles runs per month. In the end it also
has one open ended suggestion question. The pilot questionnaire served the purpose and helped in
achieving the purpose of the survey.
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SAMPLING METHODS
In the present research study, Non-Probability, Judgment sampling method techniques were
adopted. Individual sampling unit is taken for the Sampling method
MAJOR FINDINGS
1) 96.7% of the people were aware about Fleet card.
2) 70% of the people were using Fleet card.
3) 85.7% of the people were subscribed for Sundaram Finance Fleet Card.
4) 61.9% of the customers go for Sundaram Finance Fleet card because of feature like
Cash less transaction.
5) 80% of the people were aware of Sundaram Finance Fleet card.
6) 67% of customers opted for Smart fleet card, followed by Extra Power (33%).
7) 94% of the customers were satisfied with the credit limit charged by Sundaram
Finance ltd.
8) 73.7% of the people found that Fleet card operation was easy.
9) 83% of the customers were satisfied with the acceptability of the fleet card in IOC and
BPCL.
10) 63% of people were aware about fleet card and through company executive they have
come to know about Fleet Card.
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RECOMMENDATIONS
1. Most of the people were well worse with Fleet card but it is not in case of usage so
company has to concentrate on how best they can assure people for using Fleet card.
2. As we found 63% of the customers they had come to know about fleet card through
company executive so better to increase the Advertisement campaign in various petrol
outlets.
3. Company needs to use other channels for Effective Advertisement.
4. As it is booming sector in India today ,company has to give importance about training
part of fleet card like how to take proper use of fleet card
5. As it was found less number of customers have opted for Extra Power so it is better
for company to give importance to increase the usage level of Extra Power fleet card
through effective Advertisement.
6. Company has to conduct and need to inform their customers what are all different
type of service they are providing to their customers.
CONCLUSION
As my study was to know and analyze the service provided by Sundaram Finance Ltd, to their fleet
card users. Most of them were aware of fleet card but as compare to it usage level is little less.
Almost majority of the customers were satisfied with the credit limit provided by company, interest
charged by company, about loyalty points and all. Even most of the consumers were satisfied with
the acceptability of fleet card in Indian Oil Cooperation and Bharath Petroleum Corp Ltd.
As majority of the customers are satisfied with the overall performance and they liked the
service provided by company and they even found that the application part of fleet care is quite
easy. It will be a feasible for company to increase its advertisement and training regarding how to
use and take benefit of fleet card.
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CHAPTER I
INTRODUCTION
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Gap Analysis
Gap Analysis
A marketing technique used to identify gaps in market or product coverage. In gap analysis,
consumer information or requirements are tabulated and matched to product categories in
order to identify product or service opportunities or gaps in product planning.
Gap Analysis
A method of improving a company's financial performance by reducing the gap between
current results and long-term objectives
Customer Gap:
The central focus of the gaps model is the customer gap, the difference between customer
expectations and perceptions.
Expectations are the reference points customers have coming in to a service experience;
perceptions reflect the service as actually received.
The idea is that firms will want to close this gap- between what is expected and what is
received- to satisfy their customers and build long term relationships with them. To close
this all important customer gap, the model suggests that four other gaps-need to be closed.
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Provider Gap:
The provider gaps are the underlying causes behind the customer gap:
C) BENEFITS OF CONCEPT
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It helped me understand how the Service companies use various marketing strategies to
attract the Fleet card customers.
It helped me to compare with competitors of fleet card providers on various parameters like
price, service, flexibility and many more.
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CHAPTER II
METHODOLOGY
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A) RESEARCH DESIGN
It is the specification of the methods and products for .acquiring the information
needed. It is the overall operational pattern or framework of the project that
Stipulated what information is to be collected from which sources and what
Procedures.
Companies define and redefine problems, formulating hypothesis for suggested
Solutions, collecting, organizing, evaluating data making decisions and reaching
conclusions to determine whether they fit formulating hypothesis.
Research methods are classified as Casual, Descriptive and Exploratory.
Casual Research
This type of research investigates the cause and effect relationship between two
Or more variables.
Descriptive Research
It is done to know the proportion of people in a given population who have
Behaved in a particular way but for the present study, Descriptive research was done and has been
followed. The questionnaire was used to know the awareness of DDC
Exploratory Research
It is used when rates in the business have been declining for the past few
Months and costs are rising. But
B) RESEARCH OBJECTIVES
Main Objective
Gap Analysis in terms of service delivered to Sundaram Finance Ltd, Fleet card customers.
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SUB-OBJECTIVES
1) Study to know about the consumer expectations towards Sundaram Finance Fleet card.
2) Study to know about the performance of Sundaram Finance fleet card
3) Analysis of petrol outlet provides better service to fleet card customers.
METHODOLOGY
A) GEOGROPHICAL AREA
For the purpose of collecting primary data research need to visit/ interact with customer who owns
the Fleet card with the help of questionnaire has been gathered from 30 Respondents of Hubli.
B) ABOUT THE COMPANY CHOSEN FOR THE STUDY
Sundaram Finance Ltd. - An Overview
Sundaram Finance (SF) has tied up with Bharat Petroleum Corporation Ltd. (BPC) &
Indian Oil Corporation Ltd. (IOC) for extending credit facility to the fleet customers,
through co-branded fleet cards.
The FLEET CARD credit program was launched on 01.oct.2004. Under this arrangement,
BPC & IOC would be the issuers of Smart Fleet & XTRAPOWER fleet cards. These fleet
cards are based on smart card technology.
SF would extend credit facility on these cards, for the restricted use of purchasing auto fuel
& lubes, at designated retail outlets of IOC & BPC.
These retail outlets would be based mainly on the highways & major roads where diesel
sales are high, apart from key city centric locations catering to corporate.
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Primary Data
Primary data are the data that are collected to help solve a problem or taken advantage of an
opportunity on which a decision is pending. The main method of collecting primary data is survey
method there are different types of survey technique for example personal interview, mail survey,
Internet survey and telephone survey.
Primary data is first hand information that has been collected by the researcher from the
respondents of Belgaum district as well as Dharwad district through personal interview method
with the help of questionnaire. Analysis, interpretation, summery of findings conclusion and
recommendations are completely based on primary data.
Secondary Data
Secondary data are data that were developed for some purpose other then helping to solve the
problem at hand. After identifying and defining the research problem and determining specific
information required solving the problem, the researchers task is to look for the type and sources
of data which may yield the desired results.
Secondary data in this research references made by the researcher with other published sources.
The present research will not be complete without complete references to the relevant secondary
data.
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METHODOLOGY
A) PERIOD OF STUDY
The study was undertaken for the duration of four months. Where in the plan for each week was
planned well before only and accordingly the project work was carried out.
B) UNIQUENESS OF STUDY
Though smart card use in India still lags behind other Asian giants like China, the potential is great
since a range of applications can be incorporated into a smart card. Unlike normal plastic credit
cards, smart cards are embedded with a small microchip, which can be programmed to perform
specific functions for the end-user. Smart cards can also store up to a thousand times more data
than other traditional media (like the magnetic strip) used on credit cards. Whats more, each
application can have its own logical space on the card, and can be read or written onto thousands
of times. It is not surprising therefore that smart cards have now begun to proliferate in almost
every sector.
Market research firm Frost & Sullivan (F&S) puts the value of the smart card market in India at
$5.1 billion, and a compounded annual growth rate of 39.8 percent. Indias fast-growing cellular
market is a key driver of this usage as it alone accounts for over 95 percent of smart card usage by
way of SIM cards in mobile phones. This potential would be much more if the same cards were to
be upgraded to support more applications.
Another important milestone in the history of the smart card market in India was a project
sponsored by the Reserve Bank of India (RBI), and named SMARS (Smart Rupee System). The
pilot project aimed to make the IIT-Bombay campus a cashless one. Since IIT-Bombay is like a
self contained unit, the project was seen as a kind of testbed to evaluate the potential of smart
cards. The SMARS project was also significant as it involved many partners. IIT-Bombay and the
Institute of Development and Research in Banking Technology jointly coordinated the project.
State Bank of India, Canara Bank and Citibank were the banking partners, while representatives
from Aplab, Ascom, EximSoft, CMS Computers, Schlumberger, VeriFone, Gemplus, SGS
Thomson and HCL Deluxe were involved in providing the terminals, cards, software and
settlement systems. Unfortunately, even this venture slowly slipped off the radar screen.
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CHAPTER III
LITERATURE SEARCH
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Correlation:
Concept:
Many a times we come across problems or situations where two variables seem to move in
the same direction such as both are increasing or decreasing. At that time an increase in one
variable is accompanied by decrease in another variable. Such changes in variables suggest that
there is a certain relationship between them.
Correlation analysis is used as a statistical tool to ascertain the association between two
variables.
Types of Correlation:
1. Positive and Negative
2. Linear and Non-Linear
3. Simple, Partial and Multiple.
For the analysis of this project I have used positive and negative correlation analysis.
Positive correlation indicates that both the variables move in the same direction. Negative
correlation indicates that if there is an increase in one variable, the other variable declines.
For gap analysis in wildlife conservation, see Gap analysis (conservation)
In business and economics, gap analysis is a business resource assessment tool enabling a
company to compare its actual performance with its potential performance. At its core are two
questions:
Where are we?
Where do we want to be?
If a company or organization is under-utilizing resources it currently owns or is forgoing
investment in capital or technology then it may be producing or performing at a level below its
potential. This concept is similar to the base case of being below one's production possibilities
frontier.
This goal of the gap analysis is to identify the gap between the optimized allocation and integration
of the inputs and the current level of allocation. This helps provide the company with insight into
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2.
Business direction
3.
Business processes
4.
Information technology
Gap analysis provides a foundation for measuring investment of time, money and human resources
required to achieve a particular outcome (e.g. to turn the salary payment process from paper based
to paperless with the use of a system).
Note that 'GAP analysis' has also been used as a means for classification of how well a product or
solution meets a targeted need or set of requirements. In this case, 'GAP' can be used as a ranking
of 'Good', 'Average' or 'Poor'. This terminology does appear in the PRINCE2 project management
publication from the OGC.
Contents.
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market potential
existing usage
Market potential
The most difficult estimate to make is that of the total potential available to the whole market,
including all segments covered by all competitive brands. It is often achieved by determining the
maximum potential individual usage, and extrapolating this by the maximum number of potential
consumers. This is inevitably a judgment rather than a scientific extrapolation, but some of the
macro-forecasting techniques may assist in making this estimate more soundly based.
The maximum number of consumers available will usually be determined by market research, but
it may sometimes be calculated from demographic data or government statistics. Ultimately there
will, of course, be limitations on the number of consumers. For guidance one can look to the
numbers using similar products. Alternatively, one can look to what has happened in other
countries. It is often suggested that Europe follows patterns set in the USA, but after a time-lag of
a decade or so. The increased affluence of all the major Western economies means that such a lag
can now be much shorter.
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Existing usage
The existing usage by consumers makes up the total current market, from which market shares, for
example, are calculated. It is usually derived from marketing research, most accurately from panel
research such as that undertaken by A.C. Nielsen but also from 'ad hoc' work. Sometimes it may be
available from figures collected by government departments or industry bodies; however, these are
often based on categories which may make sense in bureaucratic terms but are less helpful in
marketing terms.
The 'usage gap' is thus:
usage gap = market potential existing usage
This is an important calculation to make. Many, if not most marketers, accept the 'existing' market
size, suitably projected over the timescales of their forecasts, as the boundary for their expansion
plans. Although this is often the most realistic assumption, it may sometimes impose an
unnecessary limitation on their horizons. The original market for video-recorders was limited to
the professional users who could afford the high prices involved. It was only after some time that
the technology was extended to the mass market.
In the public sector, where the service providers usually enjoy a `monopoly', the usage gap will
probably be the most important factor in the development of the activities. But persuading more
`consumers' to take up family benefits, for example, will probably be more important to the
relevant government department than opening more local offices.
The usage gap is most important for the brand leaders. If any of these has a significant share of the
whole market, say in excess of 30 per cent, it may become worthwhile for the firm to invest in
expanding the total market. The same option is not generally open to the minor players, although
they may still be able to target profitably specific offerings as market extensions.
All other `gaps' relate to the difference between the organization's existing sales (its market share)
and the total sales of the market as a whole. This difference is the share held by competitors. These
`gaps' will, therefore, relate to competitive activity.
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Product gap
The product gap, which could also be described as the segment or positioning gap, represents that
part of the market from which the individual organization is excluded because of product or
service characteristics. This may have come about because the market has been segmented and the
organization does not have offerings in some segments, or it may be because the positioning of its
offering effectively excludes it from certain groups of potential consumers, because there are
competitive offerings much better placed in relation to these groups.
This segmentation may well be the result of deliberate policy. Segmentation and positioning are
very powerful marketing techniques; but the trade-off, to be set against the improved focus, is that
some parts of the market may effectively be put beyond reach. On the other hand, it may
frequently be by default; the organization has not thought about its positioning, and has simply let
its offerings drift to where they now are.
The product gap is probably the main element of the planning gap in which the organization can
have a productive input; hence the emphasis on the importance of correct positioning.
Competitive gap
What is left represents the gap resulting from the competitive performance. This competitive gap is
the share of business achieved among similar products, sold in the same market segment, and with
similar distribution patterns - or at least, in any comparison, after such effects have been
discounted. Needless to say, it is not a factor in the case of the monopoly provision of services by
the public sector.
The competitive gap represents the effects of factors such as price and promotion, both the
absolute level and the effectiveness of its messages. It is what marketing is popularly supposed to
be about.
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Definitions matching
Gap Analysis
Gap Analysis
a marketing technique used to identify gaps in market or product coverage. In gap analysis,
consumer information or requirements are tabulated and matched to product categories in order to
identify product or service opportunities or gaps in product planning.
Gap Analysis
a method of improving a company's financial performance by reducing the gap between current
results and long-term objectives
The communication dynamics between healthcare providers and patients tend to follow a usual
course. The patient has symptoms that he or she cannot explain and goes to the physician for
assessment and diagnosis. If the diagnosis is for a treatable disease or condition, the patient's relief
is apparent. The medical information about the condition is welcomed and treatment
recommendations are actively sought because the physician is the expert in "treating" the problem.
When the condition is overweight or obesity, the usual physician/patient relationship often
disconnects. The healthcare community, which includes physicians, dietitians, and others, relies on
established, science-based Clinical Guidelines to assess, diagnose, and treat excess weight.1
In the case of overweight, the Guidelines provide an in-depth analysis of the evidence surrounding
weight loss, including the amount of weight loss needed to achieve health benefits and the methods
that have been demonstrated to effectively create lasting weight loss.
Unlike other diagnoses, most overweight or obese adults are aware of their condition prior to
medical intervention. Through years of experience and exposure to consumer-directed information,
they have developed a knowledge base and belief system about excess weight and its related
treatments.
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Growth objectives
- The needed and desired performance results to be reached by means outside the present
products and markets. Objectives are identified by a direct translation of business goals from the
growth strategy. The growth objectives guide decision making so a firm can reduce the gap
between the forecasts of profit contribution of present products and markets from the overall
objectives.
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Girish Rangan believes that EMV II compliance will drive the growth of the smart card segment
If this sounds like a scenario from the US or Singapore, think again. For India too is witnessing the
start of a revolutionalthough on a smaller scalein the area of smart cards. And unlike other
sectors, it is the traditional laggardthe governmentwhich is driving this growth.
Look at some of the projects being undertaken using smart cards. The Employees Provident Fund
Organisation (EPFO) plans to issue smart cards for its 2.6 crore subscribers; these cards can be
accessed through its 267 offices. The key advantage is that each member of the EPFO will be able
to access his account irrespective of the place he is currently employed. Settlement (which now
takes ages) can be done in a matter of days. Two states, Gujarat and Madhya Pradesh (MP), have
started adopting the concept of smart cards and are issuing smart card-based driving licences. The
smart card can not only hold details about the driving licence but also store a variety of data like an
individuals signature, fingerprint and even his photograph. The traffic police would also be able to
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Pramod Rao says that innovative applications like smart cards integrated with biometric
technologies will drive smart card growth
Pioneering projects
Apart from e-governance initiatives, there have been a couple of projects by organisations like
BPCL. The corporation launched a smart card known as the PetroCard, with a loyalty programme
branded PetroBonus. PetroCard is a loyalty card whereby customers get additional mileage points
or petromiles for using the card. The points are stored directly on the card, with loyalty
statements printed out with each transaction. The project has turned out to be a phenomenal
success, and now there are more than ten lakh customers using the card.
Also much talked about is the BEST project in Mumbai where smart cards were proposed to be
used on its public transport buses. The project began in August 1998, and the idea of smart cards
was mooted for solving the problem of issuing loose change, and for increasing overall efficiency.
Explains Amit Phatak, industry analyst, IT practice, F&S, "About 51 percent of BESTs total
expenses are costs incurred due to salary. If the entire bus fleet was equipped to handle smart
cards, there would be around 22-25 percent reduction in staff costs. The biggest advantage for
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P N Karanth feels that for a developing country like India it is imperative to stop the pilferage of
resources at various nodes in distribution channels, which can be ensured by using smart cards
Another notable achievement in the field of secure smart cards has been implemented by Siemens
Information Systems (SISL). Currently there is a shortage of cards which incorporate more than
one biometric feature, since the task of packing more applications (like, say, facial recognition) is
extremely difficult. But SISL has worked around this impediment with the introduction of the
Intelligent Digital Passport (IDP). The technology allows three levels of biometrics to be
incorporated on the card to provide maximum securityfingerprint identification, facial
recognition and voice recognition. Whats significant is that the company has managed to
compress all these features into data of just 6 KB in size, and which can be incorporated on a 32
KB chip, leaving enough space for other applications.
The Indian government now plans to issue multi-purpose identity smart cards to about 29 lakh
people in selected areas of 13 border and coastal states by next year as part of an exercise to
strengthen security. A smart card incorporating biometrics and a photograph would serve as proof
of identity, and also would be tamperproof. This can go a long way in reducing terrorism-related
activities.
Explains Karanth of EximSoft, "We think that this project is of vital importance to national
security. With Indias long and porous border, and with a lot of unwanted elements moving freely
across this border, monitoring the area is a tough task. Additionally, verifying the authenticity of
ID papers can be time-consuming. Smart cards can definitely ease the situation, and are a step in
the right direction." On the same lines, the Indian government is also thinking of a smart cardbased national identification card for detecting illegal immigrants. If implemented, this project
would create mega opportunities for Indian smart card players.
Challenges
While there are numerous instances in India where smart card projects were visualised, most of
them didnt progress beyond the pilot stage. The ability of various service providers and the
government to convert vision into reality will be a pointer to the evolution of the smart card market
in India. Additionally, there is a lack of standardisation across the Indian smart card industry,
which is a hurdle to growth; smart card applications in different states may be incompatible if they
are built using different standards.
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Telecom %
Others %
2001
68.9
16.5
0.55
0.03
13.7
0.32
2002
66.5
17.9
0.53
0.03
14.7
0.34
2003
64
19.4
0.57
0.04
15.6
0.39
2004
62.5
20.7
0.57
0.04
15.8
0.39
2005
59.6
23.7
0.72
0.05
15.5
0.43
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2.
The Employees Provident Fund Organisation (EPFO) and Siemens joint venture project to
Initiatives by state governments like Gujarat and Madhya Pradesh to issue smart card-based
driving licences.
4.
Rajasthan milk card projectthe worlds first milk collection system based on smart card
The RBI-sponsored SMARS project, which involved the issuing of smart cards to the
The BEST project to solve the problem of loose change, ensure better administration, and
increase efficiency. This project was significant as it was the first time that a mass transport
organisation in India decided to go in for smart cards.
7.
The Kerala ration card project to monitor the distribution of supplies through the public
distribution system. The project has helped in cutting down pilferage of resources at various points
in the system.
Why India is a hot spot for smart cards
Asia-Pacific accounts for approximately 30 percent of worldwide smart card sales, and is
the second-largest market after Europe. India is said to be the next big market after China and
Japan for smart card growth.
In addition to various e-governance projects, smart card-based projects like the national ID
card, driving licence and vehicle registration will drive the use of smart cards in India.
Frost & Sullivan puts the value of the smart cards market in India at $5.1 billion, with a
The requirement of smart cards as identity cards, and combined municipal and welfare
The demand for smart cards in healthcare and transportation is expected to reach 35 crore
by 2005.
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CHAPTER IV
ORGANIZATIONAL PROFILE
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Organizational Profile
Sundaram Finance Ltd incorporated in 1954 has grown today into one of the most trusted
financial services groups in India.
Today, the activities of the group span savings products like Deposits and Mutual Funds, Car and
Commercial Vehicle Finance, Insurance, Home Loans, Software Solutions, Business Process
Outsourcing, Tyre Finance, Fleet Cards and Logistics Services.
History:
The Company was incorporated in 1954, with the object of financing the purchase of commercial
vehicles and passenger cars.
The company was started with a paid-up capital of Rs.2.00 Lakhs and later went public in 1972.
The Company's shares were listed in the Madras Stock Exchange in 1972 and in the National
Stock Exchange in January 1998.
Subsequently, the equity shares of the Company have been delisted from Madras Stock Exchange
Limited (MSE) with effect from January 27, 2004, in accordance with SEBI (Delisting of
Securities) Guidelines, 2003, for voluntary delisting.
Founder:
For him it was a lifetime involvement in automobiles, finance and philanthropy
Born on November 8, 1912, Mr.Santhanam had his education in Madurai. In 1930, he joined his
father in business, and thus began a life-time involvement in automobile and finance.
He was not only deeply involved in negotiations with foreign collaborators for the manufacture of
quality auto components, but also in financial planning and project financing. His financial acumen
was always regarded highly, not just in the TVS group, but outside as well. He served on the
Government's Direct Taxes Advisory Committee, and the study Group on Road Transport
Financing among others.
For Mr.Santhanam, quality was paramount. He ensured that his auto component distribution
companies provided transport operators genuine and quality products at fair prices.
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Milestones:
IN RECOGNITION OF SERVICE TO INVESTORS
A Certificate of honour was given by the Institute of Chartered Financial Analyst, in recognition of
the Company's efforts to set a trail blazing record of investor rewards , fostering the equity cult on
ethical lines among the top hundred investor rewarding companies in India for the period 1990-95.
Birth of Sundaram Finance
First finance company to be listed on the Madras Stock Exchange.
Started Leasing operations.
Formation of Lakshmi General Finance
Receivables crossed Rs. 1000 crore (Rs. 10 billion)
Deposits crossed Rs. 500 crore (Rs. 5 billion)
Formed Sundaram Newton Asset Management Company Ltd. in collaboration with Newton
Management Ltd., UK.
Received Best Tax Payer Award
Received Best Tax Payer Award
Receivables crossed Rs. 2000 crore (RS. 20 billion)
Promoted Fiat Sundaram Auto Finance Limited, a joint venture with Fidis S.p.A., Italy
Promoted Sundaram Home Finance Limited with equity participation from International Finance
Corporation (IFC), Washington, and FMO Netherlands
Promoted Royal Sundaram Alliance Insurance Company Limited, a joint venture with Royal &
Sun Alliance Plc, for Non-Life Insurance
Promoted Sundaram Infotech Solutions - Infotech division of Sundaram Finance
Promoted Sundaram Business Services - BPO arm of Sundaram Finance
Merger with LGF making SF Billion dollar Balance sheet NBFC
BNP Paribas Asset Management Group, France acquires 49.90 % stake in Sundaram Asset
Management Company Ltd from SFL.
Union de Credit pour le Batiment SA (UCB), a wholly owned subsidiary of BNP Paribas SA,
France acquires 49.90% stake in Sundaram Home Finance Ltd from SFL.
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Awards Received:
Second Best Tax Payer in the category of Private Sector Company for Assessment Year
1994-95 in Tamil Nadu Region, from the Income Tax Department, Tamil Nadu.
Rolling Trophy by Rotary Club of Madras South West for Best Employer-Employee
Relationship for the year 1995-96.
Best Tax Payer in the category of Private Sector Company for Assessment Year 1995-96
in Tamil Nadu Region, from the Income Tax Department, Tamil Nadu.
Sarige Ratna Award to Shri T S Santhanam, Chairman, from the Bangalore City Lorry
Transporting Agents Association (Regd).
Most Valued Customer Award to Shri T S Santhanam Chairman, from the State Bank of
India.
The Best Financier of the New Millennium 2000 to Shri. G K Raman, Managing
Director, from the All India Motor Transport Congress.
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Company Structure:
Chairman
Sri S Viji
Director
Managing Director
Sri T T Srinivasaraghavan
Compliance Officer
Types of Business:
Retail Finance:
Business Finance:
1) Commercial Vehicle.
2) Equip met Finance.
3) Tyre Finance
4) Fleet card
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Services:
1)
Infotech solutions.
2)
3)
Logistics Services.
4)
Insurance.
Group Companies
Sundaram Finance
Lakshmi General Finance
(since merged with SFL on 1/4/2005)
Sundaram BNP Paribas Asset Management
Sundaram BNP Paribas Home Finance
Royal Sundaram Alliance Insurance
Sundaram Infotech Solutions
Sundaram Business Services
Sundaram Finance Distribution Limited
LGF Services Limited
Infreight Logistics Solutions Limite
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CHAPTER V
ANALYSIS AND FINDINGS
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50
40
40
30
20
P e rc e n t
17
17
10
7
0
1997-08
1999-08
1997/07-08
2001-08
All
All types
All type
Tractors
Car
Truck/04-08
VEHICLE
Interpretation: As graph clearly indicates that 40% of customers were having almost all the
models of vehicle followed by tractor, trucks and car.
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2) Occupation
Other
16.67
Business
33.33
Student
Transport
10.00
40.00
Interpretation:
The above graph indicates the occupation of the people. By looking at the graph, most of the
customers occupation falls in the group of transportation that is 40% and 33.33% are business
people, 10% are the students who are very few and 16.67% of the customers are scattered to
different occupation.
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No
3.3%
Yes
96.7%
Interpretation:
The above graph indicates the awareness of people regarding the fleet card. By looking at the
graph we can say that almost every other person is aware of the fleet card that is 96.7% of the
surveyed people know about the fleet card and there are very small percentage of people are not
aware of it that is 3.3%.
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80
70
60
40
30
P e rc e n t
20
0
Yes
No
Interpretation:
By looking at the awareness level of the customers towards fleet card we can definitely
interpret that there are many people who use fleet card. Looking at the above graph 70% of the
survey population use the fleet cards and there are very few that is only 30% of them do not use
fleet cards.
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Others
4.76 / 4.8%
Reliance
9.52 / 9.5%
Sundaram Finance
85.71 / 85.7%
Interpretation:
The above graph represents the different companys fleet cards used by the surveyed
population. Among them most of the customers use the fleet cards of Sundaram Finance as
indicated by the above graph about 85.7% of them are the users of fleet cards of Sundaram
Finance, and the remaining percentage of people use different companys fleet cards like Reliance
of about 9.5% and others 4.8%.
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Easy to operate
14.3%
Interpretation:
The above graph indicates the various services, which the customers look in for the usage of
fleet card. By looking at the above graph we can interpret that large number of customers look for
the cash less transaction services as shown in the graph about 61.9% of the customers prefer for
cash less transaction and 14.3% of the customers look for the ease with which one can operate that
is the comfort ness and 14.3% of the customers prefer security and the rest 9.5% of the customers
look for free credit periods.
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80
80
60
P e rce n t
40
20
20
0
Yes
No
Interpretation:
The above graph indicates the awareness level of people towards the Sundaram finance fleet
cards. The above graph shows that 80% of the people are aware of the fleet cards offered by
Sundaram Finance and very few survey customers that is only 20% of them are not aware of the
fleet cards offered by Sundaram Finance.
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8) How did you come to know about Sundaram Finance Fleet card?
Petrol/Diesel outlet
4.5%
Word of mouth
31.8%
Interpretation:
By looking at the above graph one can say that about 63.6% of the customers came to know
about the fleet cards offered by Sundaram finance through the company executives, and 31.8% of
the customers are aware mainly due to word of mouth, and remaining 4.5% of the customers came
to know about fleet cards through various petrol and diesel outlets which they visit.
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70
60
60
50
40
40
30
Percent
20
10
0
Yes
No
Interpretation:
The above graph indicates the market potential for the Sundaram Finance Fleet Cards. The
above figure shows that 60% of the customers do not wish to purchase the fleet cards of Sundaram
Finance, Though 60% of the customers say no to the companys fleet card still 40% of the
customers who are willing to purchase the fleet cards of the company and so the 40% of the market
has to be tapped by the company.
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10) How long you had been using Sundaram Finance fleet card?
2 to 3 years
11.8%
1 to 6 months
41.2%
7 to 12 months
47.1%
Interpretation:
The above graphs indicate the duration of the fleet cards used by the customers of the
company. From the graph we interpret that about 47.1% of the customers have been using fleet
cards from 7-12 months, and 41.2% of the customers have used it for a period of 1-6 months and
remaining 11.8% of the customers have been using it from 2-3 years. So we can say that there are
very few customers who had been using it from 2-3 years.
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70
67
60
50
40
33
30
Percent
20
10
0
Smart Fleet card
Extra Pow er
Interpretation:
The above graph represents the type of fleet cards particularly of Sundaram Finance used by
the customers. 67% of the customers use the smart fleet card offered by the company and 33% of
them use Extra power fleet card and so we can say that the potential for smart fleet card is high.
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12) Are you satisfied with the credit limit provided by Sundaram Finance?
No
5.56 / 5.6%
Yes
94.44 / 94.4%
Interpretation:
The above graph indicates the satisfaction of customers towards credit limit facility provided
by Sundaram Finance. The graph shows that most of the customers are satisfied with this service
and the percentage is 94.4% and the remaining 4.6% of the customers are not satisfied with this
service.
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13) Are you satisfied with the interest charged by Sundaram Finance?
100
94
80
60
Pe rce n t
40
20
0
Yes
No
Interpretation:
The above graph indicates the satisfaction of customers towards interest charged by Sundaram
Finance. The graph shows that most of the customers are satisfied with the interest charged and the
percentage is 94% and the remaining 6% of the customers are not satisfied with this service.
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Yes
33.3%
No
66.7%
Interpretation:
The above graph indicates the awareness of customers towards free credit period allowed by
the company. About 66.7% of the customers are not aware of free credit period and only few of the
customers, that is about 33.3% of them are aware of it.
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15) Are you aware of loyalty points? & have you ever redeemed your loyalty points?
100
80
78
60
P e rc e n t
40
20
22
0
Yes
No
Are you aware of loyalty points and have you ever redeemed your loyalty
Interpretation: According to the graph 78% of the customers were not aware about loyalty
points which were given by the company to their customers as a added service.
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Tedious
10.5%
Average
15.8%
Easy
73.7%
Interpretation:
The above graph indicates the customers opinion about the application procedure.
The graph shows that 73.7% of the customers feel that the application procedure is easy , 15.8% of
them feel that it is average and the remaining 10.5% of the customers feel that the procedure is
tedious.
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17) How do you feel about the acceptability of the SF card in various fuel outlets?
100
80
83
60
Percent
40
20
0
Satisfied
Dissatisfied
Not satisfied
Highly dissatisfied
How do you feel about the acceptability of the Sundram Finance card in v
Interpretation:
The above graph indicates the customers opinion about the acceptability of the Sundaram
Finance card at various fuel outlets. The graph shows that 83% of the customers are satisfied with
the acceptability, 6% of them feel that they are not satisfied with the acceptability, 6% of them are
dissatisfied and the remaining 6% of the customers are highly dissatisfied. Overall the satisfied
percentage of customers is high.
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E grade
5.6%
B grade
5.6%
A grade
88.9%
Interpretation:
The above graph indicates the satisfaction level of the customers the service of easiness to
operate.
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19) Security
E grade
5.6%
D grade
5.6%
C grade
B gradeq
38.9%
50.0%
Interpretation: As the graph indicates about 50% of the customers have given their opinion about
security as B grade and even 38.9% of the customers were C grade.
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20) Cross tabulation between fleet card users and service they expect in fleet card?
Are you using fleet card? * What type of services you look in fleet card? Crosstabulation
Count
Yes
Total
21
21
Interpretation:
The above table indicates the relationship between fleet card users and service they expect in
fleet card. From the above table we can interpret that there are 21 fleet card users in total and out
of those 21, 13 users would prefer cash less transactions and 3 of them expect security and the
remaining 3 expect easiness in its operations.
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21) Cross tabulation between Sundaram Finance Fleet card users and how did they come to
know about that?
Are you aware of Sundaram Finance fleet card? * How did you come to know about
Sundaram Finance Fleet card? Crosstabulation
Count
How did you come to know about
Sundaram Finance Fleet card?
Through
compny
Word of
Petrol/Diesel
executive
mouth
outlet
Are you aware of
Sundaram Finance
fleet card?
Total
Total
Yes
14
22
14
22
Interpretation:
The above table indicates the relationship between fleet card users and the awareness of that
particular companys fleet card. From the above table we can interpret that there are 22 fleet card
users of Sundaram Finance and out of those 22, 14 users came to know about fleet cards of
Sundaram Finance through company executives, 7 users are aware due to word of mouth and 1
user came to know through petrol and diesel outlet.
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Yes
No
Total
4
10
Interpretation:
The above table indicates the relationship between awareness of fleet card and the willingness
of the customers to purchase the fleet card of Sundaram finance in future. From the above table we
can interpret that out of 4 customers 2 of them wish to purchase companys fleet card and the
remaining 2 do not wish to buy it this means there is only 50% scope for the purchase of card. And
out of 6 customers who are not aware of fleet card only 2 of them wish to purchase it.
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23) Cross tabulation between Users and Credit limit satisfaction level?
Are you using fleet card? * Are you satsfied with the credit limit
provided by Sundaram Finance? Crosstabulation
Count
Yes
Total
18
18
Interpretation:
The above table indicates the relationship between fleet card users and the credit limit
provided by Sundaram Finance. From the above table we can interpret that there are 18 fleet card
users in total and out of them, 17 users are satisfied with the credit limit provided , 1 user is not
satisfied with the credit limit provided by the company.
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Are you using fleet card? * Are you aware of free credit period?
Crosstabulation
Count
Yes
Total
18
18
Interpretation:
The above table indicates the relationship between fleet card users and the free credit period
allowed by Sundaram Finance. From the above table we can interpret that there are 18 fleet card
users in total and out of them only 6 users are aware of the free credit period provided, and 12
users are not aware of the free credit period provided by the company.
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25) Cross tabulation between Users and Acceptability of the Sundaram Finance card in
various fuel outlets?
Are you using fleet card? * How do you feel about the acceptability of the Sundram Finance card in
various fuel outlets? Crosstabulation
Count
Total
18
18
Interpretation:
The above table indicates the relationship between fleet card users and their opinion about the
acceptability of the Sundaram Finance fleet cards at various fuel outlets. From the above table we
can interpret that there are 18 fleet card users in total and out of them 15 users are satisfied with its
acceptability, and remaining users are not satisfied with its acceptability.
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Are you using fleet card? * Are you aware of loyalty points and have
you ever redeemed your loyalty points? Crosstabulation
Count
Yes
Total
18
18
Interpretation:
As this summary indicates that more than 75% of customers are using fleet card but they
were not aware of loyalty points which is considered as one of the service feature provided by
company.
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27) Cross tabulation between satisfaction level of service provided and customers
recommendation to others?
Total
Yes
11
18
11
18
Interpretation:
The above table indicates the relationship between satisfaction level of customers towards the
services provided and customers recommendations to others. From the above table we can
interpret that there are 18 fleet card users who are satisfied with the services provided and out of
them 11 users would like to recommend it to others and remaining 7 users would not wish to
recommend it to others.
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Pearson Correlation
Sig. (2-tailed)
N
Pearson Correlation
Sig. (2-tailed)
N
Here we see that the correlation is 0.284. This means that awareness and usage of fleet card are
positively correlated. But the degree of correlation is less than 0.5. This shows that the
association between these two variables is moderate. It means that, at time passes these two
variables may move in the same direction. Awareness is directly associated with usage of fleet
card.
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29) Correlation between awareness of Sundaram finance fleet card and in which sundaram fleet
card.
Correlations
Pearson Correlation
Sig. (2-tailed)
N
Pearson Correlation
Sig. (2-tailed)
N
Do you want
to have a
Sundaram
Finance Fleet
card in future?
.167
.645
10
1
.645
10
10
Here we see that the correlation is 0.167. This means that awareness of Sundaram fleet card and
future prospective of usage of Sundaram fleet card which are positively correlated. But the degree
of correlation is less than 0.5. This shows that the association between these two variables is
moderate. It means that, at time passes these two variables may move in the same direction.
Awareness is directly associated with usage of fleet card.
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CHAPTER VI
DISCUSSION
&
CONCLUSION
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73
CONCLUSIONS:
As my study was to know and analyze the service provided by Sundaram Finance Ltd, to
their fleet card users. Most of them were aware of fleet card but as compare to it usage level
is little less. Almost majority of the customers were satisfied with the credit limit provided by
company, interest charged by company, about loyalty points and all. Even most of the
consumers were satisfied with the acceptability of fleet card in Indian Oil Cooperation and
Bharath Petroleum Corp Ltd.
As majority of the customers are satisfied with the overall performance and they liked
the service provided by company and they even found that the application part of fleet care is
quite easy. It will be a feasible for company to increase its advertisement and training
regarding how to use and take benefit of fleet card.
It was a practical experience for me to know about service marketing in all the
categories of the market like Fleet card, customer expectations, Designs and standards and
measurement of customer satisfaction. It was an opportunity for me to apply theoretical
concepts into practical and it helped me to get good exposure.
Finally, this research has helped me to gain immense knowledge about service
industry. It will help me to find the new avenues in the future.
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CHAPTER VII
FINDINGS
&
RECOMMENDATIONS
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Findings:
1) 96.7% of the people were aware about Fleet card.
2) 70% of the people were using Fleet card.
3) 85.7% of the people were subscribed for Sundaram Finance Fleet Card.
4) 61.9% of the customers go for Sundaram Finance Fleet card because of feature like
Cash less transaction.
5) 80% of the people were aware of Sundaram Finance Fleet card.
6) 67% of customers opted for Smart fleet card, followed by Extra Power (33%).
7) 94% of the customers were satisfied with the credit limit charged by Sundaram
Finance ltd.
8) 73.7% of the people found that Fleet card operation was easy.
9) 83% of the customers were satisfied with the acceptability of the fleet card in IOC and
BPCL.
10) 63% of people were aware about fleet card and through company executive they have
come to know about Fleet Card.
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RECOMMENDATIONS
1) Most of the people were well worse with Fleet card but it is not in case of usage so
company has to concentrate on how best they can assure people for using Fleet card.
2) As we found 63% of the customers they had come to know about fleet card through
company executive so better to increase the Advertisement campaign in various petrol
outlets.
3) Company needs to use other channels for Effective Advertisement.
4) As it is booming sector in India today ,company has to give importance about training
part of fleet card like how to take proper use of fleet card.
5) As it was found less number of customers have opted for Extra Power so it is better
for company to give importance to increase the usage level of Extra Power fleet card
through effective Advertisement.
6) As most of the customers are using fleet card but they are not aware of extra service
provided by Sundaram Finance so company need to inform about their key services to
their customers through training or through advertisement.
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CHAPTER VIII
ANNEXURE
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Questionnaire
Dear Customer,
I B S Patil , Student BEC DOMS BAGALKOT . Undertaking a study on Gap Analysis in
terms of service delivered to Fleet Card Customers at Sundaram Finance Ltd, Hubli. As
part of the project study for the Masters Degree in Business Administration. I humbly
request you kindly to fill up the questionnaire by sparing your valuable time. The
information provided by you will be used for academic purpose only.
Name ______________________________.
Place_______________________________.
Vehicle, Make and Model____________________________.
District______________________________.
Occupation________________.
Ph. No_______________________________.
1) Are you aware of Fleet card?
a) Yes
b) No
2) Are you using fleet card?
a) Yes
b) No
If No, Please Specify the reason____________________________________________________.
Then
3) Which company fleet card you have subscribed?
a). Sundaram Finance b) Reliance
c) Others_____________________.
4) How many times do you use the card in a month?
a) Two times
b) Four times
c) Ten times
d) Specify_____________.
d) 15 and above
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b) No
c) Tedious
21) How do you feel about the acceptability of the SF card in various fuel outlets?
a) Highly Satisfied
b) Satisfied
22) Are you satisfied with the service provided by Sundaram Finance fleet card?
a) Yes
b) No
If yes, would you like to recommend it to others?
a) Yes
b) No
If yes, Please specify 3 names that you know worth to use fleet card.
1
2
3
If no, please specify the reason
______________________________________________________________________________________
______________________________________________________________________________________
____________________________________________________________________________
23) Did you find all the desired features in Sundaram Finance Fleet card, please rate the following
features. 1 to 5 (1 is lower and 5 Greater)
Features
F1 Easy to operate
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Thank You
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Hubli
Hubli
Hubli
Hubli
Hubli
Hubli
Hubli
Hubli
Hubli
All types
All types
All type
All type
All types
All type
All type
Tractors
All
Dwd
Dwd
Dwd
Dwd
Dwd
Dwd
Dwd
Dwd
Dwd
Mahadev Swadi
Atmanand
Rajshekhar
Sadiq Bhai
Mohd.Iqbal
Hubli
Hubli
Dwd
Hubli
P.B.Road
Dwd
Dwd
Dwd
Dwd
Dwd
Siddalingesh K
Yogita
Padmamba Travels
Virupaksha
Devendranayal
Kiran S K
Iliyas Hanagi
Imtiyaz K
Rajendra
Wagesh K D
Shripathi
Gajanan
Shantesh
Imamasab
R C Pattat
Raghuram
.
.
.
.
.
.
.
.
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.
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.
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.
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Dwd
Hubli
.
.
.
.
.
.
.
2
2
3
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.
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3
1
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.
2
All type
All
Car
All types
All
Truck/0408
7/8/1997
All types
1997-08
2001-08
1999-08
All
All
All
All
All
All
2001-08
All
All
All
.
.
.
.
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.
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.
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Transport
business
Transport
Transport
Transport
Transport
Transport
Transport
Business
Business
Rolling
Mill
Farmer
Student
Business
Transport
Dwd
Dwd
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.
.
.
.
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.
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.
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.
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Transport
Transport
Transpor
Transport
Business
Contract
Business
Business
Business
Business
Student
Transport
Business
Student
Business
Transport
.
.
.
.
.
.
.
180
580
150
100
.
900
100
150
1000
.
180
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1
2
2
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1
1
1
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9.45E+09
9.85E+09
9.45E+09
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9.45E+09
9.45E+09
9.45E+09
2
1
1
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9.89E+09
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9.45E+09
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.
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CHAPTER IX
BIBLIOGRAPHY
BIBLIOGRAPHY
Reference Books
1 George E Belch and Michael A Belch- Advertising and Promotion
An Integrate Marketing Communication Perspective
2 Kotler and Keller- Marketing Management 12e
3 A Parasuraman - Marketing Research
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Internet Referenceswww.sundaramfinance.com
www.wikipedia.com
www.timesofindia.com
MagazinesBusiness Today
Auto India
Business World
NewspapersTimes of India
Business Line
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