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Published by: Rajesh Raj on Nov 06, 2011
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Abstract ......................................................................................................................................................... 2 Executive Summary ...................................................................................................................................... 3 Industry Profile ............................................................................................................................................. 4 Major Players in India ............................................................................................................................... 6 Company Profile ........................................................................................................................................... 7 Theoretical Background .............................................................................................................................. 16 Service Blueprint .................................................................................................................................... 16 Service Encounters.................................................................................................................................. 16 Customer Satisfaction ............................................................................................................................. 17 Introduction to the Study ............................................................................................................................ 21 Objectives ................................................................................................................................................... 22 Scope of the study ....................................................................................................................................... 22 Limitations of the study .............................................................................................................................. 22 Methodology of the Research ..................................................................................................................... 23 Data Analysis .............................................................................................................................................. 24 Findings ...................................................................................................................................................... 38 Suggestions ................................................................................................................................................. 39 Learning from the Research ........................................................................................................................ 40 Conclusion .................................................................................................................................................. 41 APPENDIX ................................................................................................................................................. 42 QUESTIONNAIRE ............................................................................................................................ 42 Bibliography ............................................................................................................................................... 44



The project aims at analyzing the service delivery process of IL&FS Investsmart Securities Limited, Bangalore, through service blueprint of the organization. The research is done by surveying the customers and the employees of the organization. Customers of the company are the centre of this research as they are the internal customers of the organization. As such the research also takes into account the „gaps model‟ and service encounters, and tries to formulate a satisfaction index as well. This has been done because surveying customers, especially if they are high-profile is very tough task and as such asking them a large number of questions is not feasible. So, few important parameters have been set in this regard so as to understand the customer perceptions and expectations and subsequently the maximum possible gaps existing through minimum number of questions. The study is very ambitious but it has its own limitations like geographical constraints and availability of database. In order to do the research, extensive fieldwork was undertaken. Then based on the understanding of the fieldwork, office work and interaction with the employees the existing service blueprint was drawn and then analyzed. The satisfaction index formulated has subtle similarities to SERVQUAL. The research found out that service encounters play a crucial role in customer satisfaction. It concludes that for a higher level of satisfaction lesser number of service encounters should be there. Besides, the research also found out the major gaps existing in the service delivery at IL&FS Investsmart Securities Limited. Also the existing service blueprint of the company was analyzed for the purpose of identifying those encounters which should be deleted and those encounters which should be encouraged. Finally based on the findings of the research some steps have been suggested to improve the customer satisfaction.


Executive Summary
Organization: The organization chosen for the purpose of research is IL&FS Investsmart Securities Limited (IISL), which is a major player in Indian capital market. It is an online trading and broking company and a major player in the market. It is presently a part of HSBC group. Its CEO is Mr. Manasije Mishra. Title of the project: The project chosen is “Service Delivery Process: An analysis through Service Blueprint at IL&FS Investsmart, Bangalore”. Objective of the Project: 1. To analyze the existing service blueprint of IL&FS Investsmart Securities Limited. 2. To assess the service encounters with the customers 3. To suggest strategies for the improvement of the service delivery process of the company.

Background: Service blueprint is a picture or map that accurately portrays the service system so that the different people involved in providing it can understand and deal with it objectively regardless of their roles or their individual points of view. It also serves as a tool for service improvement. As such it also involves concepts of customer satisfaction and service encounter. Methodology: A descriptive research involving simple random sampling was undertaken. It involved questionnaire designing on Likert scale and simple yes-no kind of questions for primary data collection. Secondary data was taken from newspapers and magazines. Findings: It has been found that remote encounters and telephone encounters are responsible for higher level of customer satisfaction while face-to-face encounters cause more dissatisfaction. Suggestions: The company should encourage those encounters which cause more satisfaction and train its onstage employees continually so that they work efficiently and keep the deficiencies to the minimum.


Industry Profile
The industry is a part of what is broadly termed as service sector. So before moving further let us first have a look at services. Services are deeds, processes and performances, and as such are intangible. Services are produced not only by service businesses but are also integral to the offerings of many manufactured-goods producers. It is important to note here that services and customer service are distinct concepts. For example IL&FS Investsmart provides the service of online trading and broking to the customers. But when the customers call on toll free number of the company regarding any doubt or for any help, say regarding change of his correspondence address, they are provided customer service. Customer service is the service provided in support of the company‟s core product. The broad definition of services implies that intangibility is a key determinant of whether an offering is service or not. However, actually very few products are purely intangible or totally tangible. It can be said that while services are more intangible than manufactured products. This can be understood through tangibility spectrum. Other than intangibility, heterogeneity, perishability, non transfer of ownership, and inseparability are some other important features of services. Service sector in India accounts for more than half of the GDP of India. The share of service sector in India‟s GDP for the fiscal year 2008-2009 stood at 56%. This is a trend which is observed in developed economies only. Service sector growth in India witnessed a dramatic pace in 1980s and 1990s, especially so in 1990s. Between1950 to 2000 the share of services in the GDP increased by 21%, forty percent of that growth was seen in 1990s. This was primarily due to liberalization in the regulatory framework of the economy and this gave rise to innovation and increased exports from the service sector. Services or the “tertiary sector” of the economy covers a wide gamut of activities like trading, banking & finance, entertainment, real estate etc. Genesis of Stock Market - Stock market is a market where trading of company stocks, other securities and derivatives take place. Stock exchanges are corporations or mutual organizations which are specialized in trading stocks and securities. The first security was issued publicly in Venice in the fourteenth century where the government made the first known issue of bonds. Merchants and landowners purchased these securities as investments. In and around 1750s, in England, traders of the shares of early companies would commonly meet in Jonathan‟s Coffee House to trade shares and make business deals. Early share bids and offers were written on the walls of the coffee house and the trading process was highly unregulated, with insider trading forming the basis for most investment decisions. Trading clubs had been formed by early 1770s, and in 1801 a group of traders raised 20,000 pounds to build the London Stock Exchange in Capel Court. A similar process was being witnessed in America as well. By the early1790s merchants had begun trading in shares and just as in London, these early traders often met at coffee houses. In 1792, a group of 24 brokers, each of whom had paid $400 for a “trading seat” signed the Buttonwood Tree Agreement. This agreement outlined the regulations under which

The NSE and BSE are equal in size in terms of daily traded volume. The origin of Indian securities market can be traced back to 1875. three government nominees. There are twenty-four stock exchanges in India. when 22 enterprising brokers sitting under a banyan tree established the Bombay Stock Exchange as "The Native Share & Stock Brokers' Association".the shares could be bought and sold. online trading and broking has not only found acceptance but is also gaining popularity. Its index is known as SENSEX. an RBI nominee and five public representatives. Today. Most key stocks are traded in both the exchanges. So some investors decided to address these issues and break the monopoly of BSE brokers. an executive director. Today computers have become very important in this regard. the markets have not always kept pace with the changing trends and requirements for this industry to keep pace with its full potential. however. however. Both the exchanges have switched over from open outcry to fully automated systems known as BOLT (BSE Online Trading) and NEAT (National Exchange Automated Trading). Indian Stock Market – The Indian stock market is regulated by SEBI (Securities and Exchange Board of India). Particular issues of concern have been lack of transparency. dated procedures and practices and long and uncertain settlement cycles. Today. 5 . Later the ordinance was replaced by an act. While India has a long history of securities trading. It was established on April 12. most of the stock exchanges across the globe had been automated. the major among them are BSE (Bombay Stock Exchange) and NSE (National Stock Exchange). owned by the leading institutional investors in the country. By the late 1990s. incorporated in 1992. The SEBI was accorded a statutory recognition by an ordinance in the year 1992. older and more widely followed. BSE is. It has been set-up as a public limited company. The Board of Governors of BSE comprises 9 elected directors. People like Warren Buffet and Allen Soros have made their fortune by doing nothing but investing in capital market. Stock market has become an industry in itself from such humble origins. 1988 as a non-statutory body to promote the growth of the of the securities market and also to provide adequate investor protection. The order placed on internet by the clients are first processed and authorized through the stock brokers‟ computer system before being automatically placed on the stock exchanges‟ computer system. These regulations formed the basis for trading rules that still exist today and led to the formation in 1817 of the New York Stock Exchange. In the early days brokers in the stock exchanges would use the method of “open outcry” for trading. Presently there are around four thousand stocks listed in BSE. the open outcry method has become a thing of past. It is the principal stock exchange in the country accounting for nearly 70 percent of the aggregate paid-up share capital of all the listed companies and 80 percent of the aggregate market capitalization of the listed companies. was given recognition as a stock exchange in April 1993 and started operation in June 1994. lack of fair and accessible and trading members. NSE.

ShareKhan is one of the largest stock broking houses in the country.20. Also. clearing & settlement operations for futures market across the country. it also has many hidden charges. 5 Paisa stock trading . However.. Besides high quality investment advice from an experienced research team. Religare also provides its customers with three kinds of trading platforms.5paisa is Online Stock Trading Company of India Infoline Securities Private Ltd. It is also known for its very low brokerage charges. Today it is a leading player in the market. greater liquidity in the market and a transparency in transactions. Owner of popular business portal Indiainfoline.Besides. It has a very loyal customer base. Motilal Oswal. commodities. It was the first exchange in India to offer transparent and screen-based trading. Mutual fund. It is known.it is online stock trading company of SSKI Group. for intra-day trading. One of the greatest strengths of the firm is an exceptionally low brokerage charged by it. It was established in order to have faster transactions. It is involved in equity related services include online trading at BSE and NSE.com. provider of India-based investment banking and corporate finance service. India Bulls. like one cannot trade through Sharekhan for scrips below Rs. It has a very wide customer base.  6 . However. in recent times the firm had to suffer a lot owing to high and non-negotiable brokerage. Major Players in India  ICICI Direct .it is the online trading and broking arm of the ICICI Bank.  Religare .  ShareKhan . they have lot of hidden rules. In addition to these there are other players also like Reliance Money. market news and multiple tools for technical analysis. there is MCX or Multi-Commodity Exchange where the trading in commodities takes place. However. The last of these was the first player to enter the online trading and broking in India but it has not been so successful as others. the site offers real time stock quotes. It is a demutualised nationwide electronic multi commodity futures exchange set up by Financial Technologies with permanent recognition from Government of India for facilitating online trading. They provide two kinds of online trading platform. Investment banking and institutional broking services.it is promoted by Ranbaxy Laboratories. IPO. particularly. The exchange started operations in November 2003. there is OTCEI (Over-the-Counter Exchange of India). and also because of some negative publicity. and Karvy. It offers three kinds of online trading platforms to its customers. Derivatives.

000 customers in India through its 394 branches and 19 franchise outlets across all the states in India and has been recognized as “National Best Performing Financial Advisor – Retail” for two years in a row (06-07 & 07-08) by CNBC TV 18. State Bank of India and Central Bank of India. IISL‟s Institutional business thrives on the strong relationships it has built among domestic mutual funds. later on the company was taken over by HSBC in the year 2007 to gain an entry into the Indian financial market. However. insurance companies and private sector funds over the past few years. portfolio management services (PMS) IPO‟s insurance advisory etc. From concept to execution IL&FS houses the expertise to provide the complete array of services necessary for successful project completion: visioning. Over the years. through its subsidiaries in India and Singapore. IISL‟s 2000 employees provide a complete range of investment solutions to over 138. quality research and high degree of compliance with stock exchange regulations and ethical business standards back IISL‟s services to institutional investors. insurance broking & distribution.6% stake in IL&FS Investsmart. The organization has focused on the commercialization and development of infrastructure project and creation of value added financial services. finance. Efficient execution. 7 . mutual funds distribution and related financing services. management. documentation. IL&FS INVESTSMART SECURITIES LIMITED IL&FS Investsmart securities limited (IISL) was created by IL&FS as an arm to take part in growing Indian capital market. Retail Offerings   ADVISORY PRODUCTS – mutual funds. development. etc. ORIX Corporation – Japan. financial institutions. banks. IL&FS has a distinct mandate – catalyzing the development of infrastructure in the country. The company no longer provides trading in commodities as according to regulation foreign financial institutions cannot take part in trading of commodities and as of now HSBC has 93. IL&FS has broad based its share holding. technology and execution. IL&FS Investsmart securities limited (IISL) is one of India‟s Leading financial services organizations. TRADING PRODUCTS – equity and derivatives. which today includes Life Insurance Corporation of India. provides a wide range of investment products to its retail and institutional banking.Company Profile Infrastructure Leasing & Financial Services Limited (IL & FS) is one of India‟s leading infrastructure development and finance companies. Housing Development Corporation of India and Abu Dhabi Investment Authority. IISL.

This involves a complete integrated electronic chain starting from order placement to clearing and settlement and finally ending with a credit into their depository account. hope that the broker is in office to place their order. It‟s one of the best aspects of being a wired investor. Also due to the high level of transparency with regard to display of information relating to the specific stocks and company profiles. 8 . Investsmart specializes in the technique that offers the best price for the best buy and sell orders of the investors and traders. This system works through Depository Participants. and a deep community of fellow investors. daily roundups of the stock market. Receive a wealth of free commentary and analysis about stock markets and the global economy. Demat as a parallel solution offers freedom from delays. and hope that the transaction is executed immediately. Online trading integrates the customer‟s bank account. convenient and efficient. customers can get real time stock quotes. settlement risks and paper work. At Investsmart. their trading account and their Demat accounts. These services are regulated by National Securities Limited (NSDL). they no longer need to call their broker on the phone. who offer Demat services and the securities are held in the electronic form for the investor directly by the depository. forgeries. IL&FS Investsmart DS offers Dematerialization services to individual and corporate investor. Online trading offers the customers greater transparency by providing them with an audit trial. possibly argue with the broker about the order. thefts. It has a team of professionals and latest technological expertise dedicated exclusively to its Demat department. and is under their direct control. any individual with an internet connection can do the following activities: Know the price of any stock any time and follow the market events in depth. The amount of investment information available online is truly astounding. All these stages are subject to inspection. A person who has an account with IL&FS Investsmart is benefited in the following ways: The internet can provide a new sense of control over financial future. For the first time in history. customers get the best quote for their orders. which leads to easy and paperless trading for them. thus bringing in transparency into the system. apart from a national network of franchise making of services quick. expert commentary. When they want to buy or sell stock.IL&FS Depository Services Dematerialization and trading in the Demat mode is a safer and faster alternative to the physical existence of securities. One of the greatest appeals of using an Investsmart online account is the fact that the account belongs to the customers.

to the execution and settlement of customer‟s bank account. Depository and online account are integrated for his/her convenience. in a very short period. Customers can ask their problems and discuss their trading strategies and ideas accordingly with the executives. customers Demat account is checked by Investsmart before executing their sell transaction. This method of trading reduces the settlement risk for the investor. as in this case all short sell orders are squared off at the specified cut off time and are not allowed to be carried forward. This provides a level playing field for all investors in the securities market. Trading on the net gives even the smallest retail investor access to information that earlier was available to the big traders only. Citibank. Axis and Corporation Bank. Every trade is confirmed immediately and clients will receive an on-screen confirmation following the trade with full details for their records. As the clients of Investsmart online. HDFC. Smart Invest‟s capability as a browser based trading platform gives you the benefit of real time streaming data with the flexibility of trading on any internet capable system. It is ideal for investors who believe in the buy and hold approach towards investment in equities. customers are given free access to steaming news to give them the latest financial information as it occurs. who is assured of the delivery of these securities. right from logging on to the site. An Investsmart Online client has an option of banking with five financial banks that provide the option of online fund transfer – HSBC. Investsmart Online works hard to keep customers‟ personal information secure. Smart Invest‟s sophisticated yet easy to use point and click order entry interface allows you to react more quickly to the markets and make better decisions. It is very user friendly. With access to both the NSE and BSE. This avoids costly errors that would have been discovered when it is too late. In the case of a Demat account. Client‟s bank. Customers can contact the Tele Trading Executives from the Tele Trading team during and after market hours. This reduces the settlement risk for the buyer. Product Profile of IL&FS Investsmart IL&FS investsmart offers two types of products for clients interested in online trading. the customer is in the driver‟s seat when routing your order to the best price on either of the exchanges. 9 .Investsmart online customer will be able to execute the entire trading transaction. They are:  Smart Invest Features: This trading platform is a browser based system designed for customers who transact occasionally.

users are provided with the 10 . unlike other system that takes a few minutes to load. Smart Trade Features: This platform can be accessed on any internet-enabled network. Accessing important reports is also one keystroke away. This account is an EXE based desktop software designed for active traders who transact frequently to capture favorable short-term price movements. It provides the facility of trading on both NSE and BSE via a single screen. account balance. speed and reliability. Back office access allows one to view segment wise ledger bills and contract notes. Each watch list can be personalized by the customers according to their choice of scripts. the same is inserted on the order form in the trade screen. Single order form for Cash and F&O offers the customers the convenience of transacting in various segments of the market without having to switch between multiple windows. Using a single keystroke (hotkey) function the customer can achieve important task very similar to a broker‟s terminal. Instant Loading The browser-based applet system allows access to client‟s account with no wait time.list allows the customer to create up to 10 groups of watch list with each group accommodating 15 scripts. The view provides the best 5 bids and offers quotes and the outstanding order quantities. They can be accessed even from the work place. Multiple watch . Point and Click order entry makes order entry quick and simple with a click on the security. trades. Live streaming quotes-Color-coded price changes help customers to spot trends and in turn help the customer to react faster. The platform offers active traders the tools they need to make critical decisions with confidence. Smart Trade is designed and built from the ground up to address the needs of active traders. realized/unrealized profit and loss. and buying power all in real time. Through an easy to use interface. Smart Trade makes the most of state of the art technology to deliver power. Market depth window gives an immediate “at a glance” information about the stock they are following. positions.

with over 10. which allow them to go right into the action with real time daily charts. These are: 11 . investment banking and capital markets. The need of refresh button is avoided.000 offices in 83 countries and territories and assets of US S 2354 billion at 31st Dec 2007. To view derivative prices of a security just right click on the symbol and click on derivative chain. Multiple securities can be monitored using the set parameters.same tools and advantages that the professionals enjoy. It reflects their credits and debits instantly on every trade execution. days or weeks. asset management. Customers can get the real time market data from both NSE and BSE. with over 33. Fully customizable display allows the clients to save their created trade screen layout. The feature of derivative chain provides with a list of all derivative contracts available for the selected security. Watch price movements by minutes. These alerts can be triggered both visually and audibly. Through EOD Charts. Further drill down into all details pertaining to an order is available in the order detail sub report. The company is having dedicated and trained tele-trading executives which allows the customers to trade when they are unable to trade through internet.000 employees in its banking. All their positions are updated automatically and instantly. so the next time they access the application the created layout is not lost. is one of the world‟s largest banking and financial services organization. HSBC in India The HSBC Group in India is represented by several entities including The Hong Kong and Shanghai Banking Corporation Limited which offers a full range of banking and financial services to its over 2 million customers in India through its 47 branches and 170 ATMs across 26 cities. Smart Trade puts up to 5 years of in depth history at their command with the power to instantly back test any trading strategy they design. Advanced alert capabilities allow the customer to be free from watching every tick. Lock terminal option locks the trading platform for the customers when it is left unattended and can be accessed again only on providing the proper login details.day charts. and intra. Service Blueprint of IL&FS Investsmart Securities Limited The blueprint components identified at IL&FS Investsmart can be listed under the five heads as discussed earlier. No need to refresh each statement to know their latest buying limits. Dynamic charts with indicators provides the clients with a wealth of charting capabilities and timing indicators. Message window docking enables the customers to receive trading messages. Tracking all their orders are made easy through the live order status screen. before risking one rupee of their trading capital. The bank is the founding and a principal member of HSBC Group which. HSBC is one of India‟s leading financial services groups. intraday trading calls and messages from both the exchanges flashed real time onto their screens. insurance broking. two global IT development centers and 6 global resourcing operations in the country. similar to what a professional broker gets. Users can be notified once a security has reached the set parameters.

Office Customer Actions The customer actions area includes the steps. Seeing advertisement these three actions can be listed as one 3. Browser 3. Renewal of account by paying ASP Thus above actions can be further narrowed down to ten actions: 1. Physical evidences provide some degree of tangibility to the services. even employees of the company and their attire also provide tangibility. Take Calls 5. Withdraw funds from trading account to savings account Transaction 13. Making calls one action of Seeking Information 4. Seen in this regard. Moving funds from savings account to trading account 11. The possible customer actions list for the clients of IL&FS Investsmart is a very long one. choices. Employees 4. Pay through cheque 12. Taking Calls 12 . Signing up the forms 8. Giving appointments to the executives 6. Seeking information 2. Typically these physical evidences can be listed above each point of contact as well. Visiting website 2.Physical evidence It is at the very top of the blueprint. Adding stocks or Deleting stocks in the scripts display 17. Website 2. Attire of the employees 5. Calling up Relationship Managers 16. activities and interactions that the customer performs in the process of purchasing. Demo shown to the clients 6. which can be modified into following broad actions: 1. Selling stocks 15. Different physical evidences associated with the services of IL&FS Investsmart are: 1. Meeting the executives from the company 7. See the demonstration 10. Placing order for purchase of shares 14. So anything associated with the process can be listed under physical evidence if it provides tangibility. Pamphlets 7. consuming and evaluating the services. Submit documents 9.

Fixing appointments for the onstage contact employees 4. Submit the documents 7. 7. The steps and activities that the contact employee performs that are visible to a customer are the onstage employee actions. Adding stocks or Deleting Stocks in the scripts display Onstage Contact Employee Actions Now. Signing up the forms 6. paralleling the customer actions there two areas of contact employee actions. Give the demonstration. Collecting documents 7. Informing the customers about the deficiencies in the form (this can be clubbed with the first action of making calls). Take Appointments 3. Calling up Relationship Managers 10. Inform onstage contact employees about the deficiencies in the form if found. 13 . Watch the Demo 8. In the organization are as follows: 1. The onstage contact employee actions identified at IL&FS Investsmart are: 1. Giving appointments to the executive 4. Meeting clients and pitch the product 4. Clear deficiencies in the form if any deficiency has been found. Backstage Contact Employee Actions Those contact employee actions that take place behind the scenes for the support of the onstage employees are called backstage contact employee actions. Processing the forms and forward for account activation 5. Transactions using the login ID 9.3.this action can be done either before the purchase by customer or even after the purchase has been made. though we have observed seven major actions. 6. they can be considered under six major actions only. Attending calls of the existing customers (both internal as well as external) and prospective customers who call up for information. 3. Meeting the executives 5. 5. Process the forms 8. Get the forms signed up 6. Advise the customers (Relationship Managers) So. Make Calls or send e-mails 2. Making calls to the customers 2.

5. phone encounters and face-to face encounters also. Training to new employees 3. the above mentioned list of actions can be grouped under remote encounters. we have following support processes: 1.Support Processes This part of the blueprint covers the internal services. Processing the forms 4. and interactions that take place to support the contact employees in delivering the service. Inform about the deficiencies if found to the contact employees. Activating the account Now. steps. All this can be seen in the service blueprint prepared on the basis of above discussion as seen in figure – 4 below. Generate leads for the acquisition process 2. In this case. Every encounter is critical from the point of view of customer satisfaction. visiting the website or placing the orders online is remote encounter while placing the same order on phone is phone encounter. For example. 14 .

mails Fix Appointments for Onstage Contact Employees Process the Forms & forward for activation Inform Onstage Contact Emp about deficiencies Advise the Client Generate leads Support Processes Train Contact Employees Process forms and look for Deficiencies Inform about deficiencies Activate Client’s Account Figure – 1 (Service Blueprint of IL&FS Investsmart.Physical Evidence Customer Actions website Seek Information Pamphlet s Take Calls employees Give Appointment Attire of employees office Meet Executive Sign Up the forms Submit Documents See the Demonstration Transactions Add/Del Scrips Call the Relationship Manager Onstage Make Calls/Send e-mail Contact Employee Actions Collect Documents Take Appointments Meet Clients Get the form Signed up Give demonstration Process the Forms Clear Deficiencies Backstage Contact Employee Actions Make Calls Take Calls/e. Bangalore) 15 .

Service blueprints provide the employees with an overview so that they can have understanding of their work. Telephone calls made to the customers is one example of the backstage contact employee action. If we look at IL&FS Investsmart. thus facilitating relational service design. Service Encounters Service encounters or the “moments of truth” create the most vivid impressions of the service when the customer interacts with the service firm (Zeithaml. but these customers were able to save themselves as IL&FS did not close its terminals. Backstage contact employees fall below this line. Through these encounters the customers receive a snapshot of the organization‟s service quality. Backstage contact employees fall below this line. which they themselves termed to be very memorable. Everything below the line of visibility is not visible to the customers. It reinforces the customer focused approach. customer actions include all of the steps that customers take as part of the service delivery process. Clearly. service blueprint assumes special significance here.Theoretical Background Service Blueprint A service blueprint is a picture or map that accurately portrays the service system so that the different people involved in providing it can understand and deal with it objectively regardless of their roles or their individual points of view. the share market in India witnessed a dramatic fall. The blueprint will have 5 components:  Physical Evidence  Customer Actions  Onstage/ Visible Contact Employee Actions  Backstage Employee Actions and  Support Processes Physical evidence refers to those elements of a service which provide certain degree of tangibility to it like pamphlets. The line of visibility drawn promotes a conscious decision on what customers should see and which employees will be in contact with the customers. the next day (17th Jan) many of their friends trading with other broking houses simply could not trade as their terminals were closed on that day. The actions of frontline contact actions that occur as part of face-to-face encounter as termed as onstage contact employee actions. According to the customers which were contacted. 2000). The line of interaction between external customer and employees illuminates the customer‟s role. This component of the blueprint is separated from the customers by the line of visibility. websites etc. Let us first look at an experience shared by some customers. and each encounter contributes to the customer‟s overall satisfaction level and willingness to do business with the 16 . On 16th January 2008. such incident create not only positive image of the company but also form an emotional bond with the customers. which a leading national daily termed as “blood on Dalal Street”.

without any direct human contact. Now. Not understanding the expectations of customer can put a lot of cost to the company. Errors committed at early stage are very critical and they do have a cascading effect. First interaction is especially critical for the image of the organization. for providing a good quality service it becomes critical to understand what a customer expects coming into the service experience. Below is a simple three-stage service encounter that normally happens at IL&FS Investsmart Securities Limited till the point of customer acquisition. The difference lies in the magnitude of importance. Besides. and face-to-face encounters. organizes. phone encounters. however. because a failure at one point results in higher dissatisfaction at each subsequent level.organization. that does not mean that other interactions are not important. Thus. Perception can be termed as the process by which an individual selects. as Bitner & Zeithaml say.remote encounters. Customer expectation. and interprets stimuli into a meaningful and coherent picture of the world. are beliefs about service delivery that function as standards or reference points against which performance is judged. The second important concept is that of customer perception. Customer Satisfaction The first basic concept is that of customer expectation. Remote encounter can happen through websites or mails. Sales Call Meet the Client & Convince Him Get the Form Signed Up Figure – 2 (Service Encounter at IISL) Encounters can of three general types. Every encounter is important as it helps in forming a composite image of the organization. Perceptions are always relative to the expectation. that is. it will stand to lose its customers and this ultimately may even lead to extinction of the firm from the market. in our case perception is the reflection of how a service has actually been received. 17 .

2. It has been often observed that quality and satisfaction are used interchangeably. It is also influenced by customers‟ emotional responses. Reliability Responsiveness Assurance Empathy Tangibles Customer satisfaction is influenced by specific product or service features and by perception of quality as discussed above. These qualities are of following types 1. we can say that if upon evaluation of a service the customer finds it to meet his needs and expectations then he would be satisfied. or in other words. But these two are different concepts. evaluative criteria. size and composition of the evoked set of alternatives. 18 . their attributions and their perceptions of equity.EXPECTED CUSTOMER GAP PERCEIVED Figure – 3 (Customer Gap) If there is no difference between expectation and perception than a customer is said to be satisfied. consumers employ different techniques in decision making process – information search. attribution of dissatisfaction etc. One framework that has been put forward based on the qualities associated with the goods and services to differentiate between the two. This customer gap can be better understood through table1. One important issue in the discussion of customer satisfaction is that of quality. 3. Satisfaction is a broader concept while service quality assessment focuses specifically on dimensions of service – 1. perceived risk. Experience qualities – the qualities discernable only after purchase or during consumption. Credence qualities – the qualities that a consumer may find impossible to evaluate even after the purchase and consumption. Since the last two qualities dominate in the service sector. Search qualities – the qualities which can be determined before the actual purchase. 4. 5. 3. 2.

pre-existing. mood state or life satisfaction. Gap 3: the procedural gap Despite the organization having proper understanding of what matters most to the customers it may still fail to deliver customer satisfaction if it cannot translate customers‟ expectations into appropriate operating procedures and systems. i. Gap 1: the promotional gap The origin of the problem lies in the company‟s marketing communications. paying fair to services. Research suggest that customers make trade-offs among different service features depending on the type of service being evaluated and the criticality of the services. unhelpful service sometime in the past will form an attitude that the organization is not concerned and it may take considerable time and much experience of good personal service before that perception gets changed. 19 . This is because of the customers‟ perception of the performance of organization which may differ from reality..Service features influence a customer to a great extent. A customer who was upset by offhand. Customer‟s emotions are important factors affecting his perception of satisfaction with the services. A customer in good mood may ignore mistakes while the same customer. For many services. The difference between customer expectations and perceptions is known as customer gap. Attributions. Emotions can be stable. Gap 4: the behavioral gap Sometimes organizations establish clear procedures which can match with the customers‟ needs and priorities but still fail to achieve a consistently high level of customer satisfaction because staff may not be sufficiently trained or disciplined to follow the proper procedures at all times. customers at least take partial responsibility for how things turn out. if a customer feel that he is fairly treated like getting services. when in a foul mood may make an issue of slightest mistakes. Gap 5: the perception gap It is possible that above mentioned gaps do not exist still some customers may be dissatisfied. it is quite possible that customer will not be satisfied despite good quality of service. If they don‟t realize what is important to customers. the perceived causes of events also influence the satisfaction level of customers. Perceptions of equity or fairness.e. In the bid to get new customers by selling the benefits of their product or service companies can very easily create expectations in the minds of customers that will be difficult to fulfill. Gap 2: the understanding gap Another problem area is that the organizations do not have a proper understanding of customers‟ needs and priorities.

Table – 1 (Actual v Expected Service) 20 .

Introduction to the Study A service blueprint is a picture or map that accurately portrays the service system so that the different people involved in providing it can understand and deal with it objectively regardless of their roles or their individual points of view. We have seen earlier. Besides. both. This paper aims to create the service blueprint of the company with the help of its customers. the paper will also seek customers‟ experience with the onstage contact employees. As such. would be on the internal customers to find out whether they understand the service process and their satisfaction with the support processes. the paper needs to consider customer satisfaction and customer gap also. 21 . It is here that service blueprinting assumes an important role as a tool of service innovation and service improvement. the role of service encounters. Service blueprints are customer-focused. that is. internal as well as external. however. The focus. points of customer contact. emotional bonds with their customers through the co-creation of memorable experiences potentially involving a constellation of goods and services. but rather they must move into the realm of customer experience management. service sector is playing a major role in the Indian economy. allowing firms to visualize the service processes. Blueprints also illuminate and connect the underlying support processes throughout the organization that drive and support customer-focused service execution. It is in this light that Mary Jo Bitner puts forward the argument that firms can no longer compete solely on providing superior value through their core products. and physical evidence associated with their services from customers‟ perspective. creating long-term. Blueprinting is widely used to analyze and inform service delivery and service design.

To find out the customer gaps in the process 5. The report assumes importance because of the recessionary trend that the economy had been witnessing since last 1 and half years and because of the negative market sentiments generated in the wake of incidents related to Lehmann brothers and Satyam. The biggest challenge was. there were some constraints. because of the not being fluent with the local language Kannada. 4. Then again the sample size and sampling technique to be used will also be under question. Also. To find out the service encounters which are most satisfying for the customers and which are most dissatisfying for the customers. especially given the market conditions. Scope of the study The study has been conducted on the IL&FS Investsmart‟s Bangalore operations.Objectives The major objectives of the project can be stated as follows: 1. To assess the service encounters with the customers. 2. Limitations of the study This study is conducted with the aim of getting accurate information. as the market crashed from 2100 points to 8000 and people had lost their money it was difficult to interact with the customer because they were not willing to participate in giving feedback also. To analyze the existing service blueprint of IL&FS Investsmart Securities Limited. However. in the present market scenario. For this purpose both internal and external customers of the company were surveyed. 3. How the company is still able to entice customers into investing and how that can be made more effective is one question of special interest. 22 . Getting customers to elicit response when they might not be interested in participating in any such exercise is a very tough and cumbersome task. it became difficult to interact with many customers. It has taken into consideration the functioning of the online trading and broking arm of IL&FS Investsmart. The foremost limitation is to identify which customers to choose for the intended survey. One of the biggest hurdles in this project is the part of customer viewpoint mapping. To suggest strategies for the improvement of the service delivery process of the company and as such delete those service encounters which cause dissatisfaction and encourage those encounters which satisfy the customers most. authentic information. One limitation was to get into touch with some of the customers because of they were premium customers and it was not easy to approach them.

e. interview of the employees of the company is also taken for the research. Simple random sampling is the basic sampling technique where we select a group of subjects for study from a larger group. Besides. For this purpose. The geographical area was restricted to Bangalore city only. for the second type a Likert scale was used. Here the customers are asked to rate the given parameters on a scale of one to five. i. the number of existing customers surveyed cannot be very high. two open-ended questions were also kept in the questionnaire. the respondents were chosen from the customer database available to us through simple random sampling only. Besides. The questionnaire designing is an important aspect of the research. 23 . The methods followed for data collection under primary sources are listed below:    Questionnaire survey of existing customers Interview of external customers Personal interview with the internal customers Existing customer database was collected before proceeding for filling up the questionnaire.. The task of marketing research is to help specify and supply accurate information to reduce the uncertainty in decision making. For our purpose.in the first type there were only two options for the customers. two kinds of questions were taken. Here the method of research adopted is descriptive. Each individual is chosen entirely by chance and each member of the population is equally likely to be chosen at any stage in the sampling process. yes or no. Besides.Methodology of the Research Marketing research covers a wide range of phenomena. So the sample size taken for research is 50. since the customers to be surveyed are generally very high profile with which interactions have to be limited.

24 . Six customers felt that IISL executives did not understand their needs properly. YES NO Figure – 4 The next query put forward to the respondents was concerned with their perception regarding IISL executives‟ ability to understand the customer requirement. In this case forty-four respondents felt that the IISL executives did understand their needs quite well and suggested them the best product.Data Analysis In order to analyze the service delivery process and the role of service encounters in customer satisfaction. like few of them wanted a higher ASP but the executives pitched a lower ASP. As we know. we conducted a survey of fifty existing customers of the company. This has been shown with the help of pie-chart below (figure – 4). The question was concerned with the way the executives pitch the product. The respondents were asked about the first service encounter in the whole service delivery process. the company offers different products under one stable so it becomes imperative that the executive first listen to the customer requirements and then pitch a particular product which suits their needs. Forty-six out of fifty respondents felt that IISL executives gave them a proper explanation on the product features and they were quite convincing in their presentations. They had different opinions on the matter.

Some respondents even admired the fact that the executives generally reach few minutes prior to the schedule. YES NO Figure – 6 The fifth question asked to the respondents was concerned with the punctuality of IISL executives. 25 .four percent respondents.YES NO Figure . that is forty-seven people felt that their queries were answered to their satisfaction.5 As regards to the reply to their queries. Ninety-six percent. ninety. that is forty-eight people replied that the IISL executives were never behind the schedule.

They said that not only did they receive timely tips but also the tips were generally correct.7 The next query was regarding the demonstration given to the customers. were unanimous in their appreciation of the tips received from the company. According to eight respondents. This is shown below in figure-9.YES NO Figure . though gave a demonstration. This is one area of concern which emerged during the course of the study. that is sixteen percent. 26 . they could have given a more detailed demonstration. IISL executives. see figure-8. YES NO Figure – 8 The respondents. however.

The next poser was regarding the satisfaction level of the customers with their respective RMs.YES NO Figure – 9 The respondents were asked about relationship managers (RM) assigned to them. So the next poser was important in this regard. Only five respondents replied that they were assigned an RM. Again four respondents out of five were quite satisfied with the work of their respective RMs. 27 . however. YES NO Figure – 10 The above reply. cannot be used to judge the satisfaction.

three people did not reply. as seen in figure – 13 below.YES NO Figure – 11 All the respondents said that they have access to the research reports. To this question while thirty-seven people replied in affirmative and ten in negative. that is the utility of the toll-free number all the respondents were once again unanimous that toll-free number is very helpful and they also appreciated that this toll-free number works from any cell-phone connection. the respondents were asked whether they found the website useful. 28 . The respondents were again unanimously positive that their calls are properly answered by the executives. To the next query. YES NO Figure – 12 Next.

b) Interactions with the RM 29 . The most prominent answers were: a) Seamless connection of savings .trading . This result is shown below in figure – 14.YES NO Figure – 13 Afterwards the respondents were asked whether they are satisfied with the online trading facilities. while eleven people were not satisfied. thirty-nine were positive.demat accounts. YES NO Figure – 14 Regarding the next query on their most satisfying experience with IISL. Some felt that online account should also work on open-source browsers like Mozilla Firefox. there were varied responses.

Ten people were neither satisfied nor dissatisfied. 1 2 3 Figure . the respondents were asked to rate some critical parameters on a scale of 1. and sales executives should not use the word “refundable”. Here.5. The reason for such high level of dissatisfaction was mainly that on many days more than one call were made by different executives to the same customer for same objective. 2 for somewhat dissatisfied. with the smallest digit standing for highly dissatisfied. These parameters can help us to understand the role of different service encounters in the customer satisfaction. The first query was on the calls made by the IISL employees. 30 . Twenty-three respondents felt that the time taken to open the account was more than the promised duration and they should have been told of this earlier.15 Afterwards. Ten respondents felt that the ASP should not be promoted as refundable because it is very tough to get the refund. Now. the next query concerned with the most dissatisfying experience of the customers. it was found that ten respondents were highly dissatisfied while seven were somewhat dissatisfied. 3 for neutral.c) No hidden charges as told by the sales executive. 4 for somewhat satisfied and 5 for highly satisfied.time taken in opening the account exceeded beyond the promised time limit of 8-10 working days. To this query the most prominent reply was. on the other hand twenty people were satisfied while three were highly satisfied.

31 . highly dissatisfied 40 30 20 highly satisfied 10 0 behavior dissatisfied behavior satisfied neutral Figure – 17 As regards to the reply of executives to the queries of the customers. parameter was the behavior of the IISL executives. most of the respondents (forty) replied that they were satisfied with the behaviour.highly dissatisfied 20 15 10 highly satisfied 5 0 calls made dissatisfied calls made satisfied neutral Figure – 16 Next. To this. but ten respondents were neutral. while five people were highly satisfied and five respondents were neutral. it was found that twenty-six respondents were satisfied and six were highly satisfied. seven respondents were not satisfied while one respondent said that he was highly dissatisfied.

those on neutral side were also just three while those who were satisfied and highly satisfied were twenty-nine and thirteen. In this case the number of respondents in the highly dissatisfied category was nil while those who were slightly dissatisfied was found to be five. Again here it was found that the satisfaction was very high.highly satisfied highly dissatisfied 30 25 20 15 10 5 0 reply of executive dissatisfied reply of executive satisfied neutral Figure – 18 Then one critical parameter for the study was taken to be the perception of the customers regarding the knowledge of the executives to advice on trading. knowledge of executive highly dissatisfied 30 25 20 15 10 5 0 highly satisfied dissatisfied knowledge of executive satisfied neutral Figure – 19 32 .

Here. brokerage highly dissatisfied 25 20 15 10 5 0 highly satisfied dissatisfied brokerage satisfied neutral Figure – 20 The trading screen and the speed of the browser was an important parameter of our study as it is one service encounter that takes place almost every-day and even several times in one day despite being a remote encounter. Here it was found that ten people were highly dissatisfied with the brokerage charged while the category of dissatisfied and neutral customer both contained five respondents each. trading screen & browser speed highly dissatisfied 40 30 highly satisfied 20 10 0 dissatisfied trading screen & browser speed satisfied neutral Figure – 21 33 .The brokerage charged by the organization is one important area of concern which might cause satisfaction or dissatisfaction. it was found that thirty-one respondents were satisfied while seventeen users were highly satisfied and two were neutral. Again twenty-three respondents were satisfied and seven were highly satisfied.

34 . eighteen customers were satisfied while two customers were highly satisfied. This high level of satisfaction can be attributed to various factors like prompt and pro-active approach of the executives. account opening duration highly dissatisfied 20 15 highly satisfied 10 5 0 dissatisfied account opening duration satisfied neutral Figure – 22 Then. In order to clear these deficiencies an executive has to go and meet the clients more than once. twenty-nine were satisfied and nine were highly satisfied. and as such it is very difficult to secure an appointment for the purpose. two respondents were neutral. Here we found that thirteen customers were highly dissatisfied while seventeen respondents were dissatisfied. So the respondents were asked regarding their satisfaction level with the meetings they have with the executives prior to the activation of their account. one area which creates extra number of face-to-face encounters is concerned with the deficiencies in the forms. It was observed that three respondents were highly dissatisfied and seven were dissatisfied. as we were told by many respondents. This pushes the activation date forward and consequently increases the chances of dissatisfaction. The question asked was concerned with the time taken to open the trading and demat account by IISL. On the other hand.The next important parameter for the study is related to both procedural gap as well as promotional gap.

seven people were dissatisfied and three were highly dissatisfied. It was found that twenty-nine people were satisfied with the response time.meeting before activation highly dissatisfied 20 15 highly satisfied 10 5 0 dissatisfied meeting before activation satisfied neutral Figure – 23 The last parameter is concerned with the telephone encounter. nine were highly satisfied. two were neutral. The respondents were asked about their satisfaction level with the time they have to wait on the toll-free number of the company. Response time highly dissatisfied 30 25 20 15 10 5 0 highly satisfied dissatisfied Response time satisfied neutral Figure – 24 35 .

These values are shown in bracket besides the categories under a bracket. high sat 15 25 65 30 35 85 10 10 45 Max Score 5 5 5 5 5 5 5 5 5 calls made Behavior knowledge of executive reply of executive brokerage trading screen & browser speed account opening duration meeting before activation Response time high dis 10 0 0 1 10 0 13 3 3 dis 14 0 10 14 10 0 34 34 14 neut 30 15 9 30 15 6 0 18 6 sat 80 160 116 104 92 124 72 76 116 Total 149 200 200 179 162 215 129 141 184 Score 2.satisfied-4.82 3.464444 36 . neutral (neut)-3.We saw the various replies that we got from different customers on different parameters. This way the average was calculated for each parameter. highly satisfied(high sat)-5.3 2.58 2. dissatisfied (dis)-2.24 4. All the levels of scale were given different weight as follows: Highly dissatisfied (high dis)-1. as shown below. These parameters were clubbed together to get a clear understanding of the satisfaction of the customers with IISL. This sum was divided by the number of respondents that is fifty. number of respondents in each category for every parameter was multiplied with their respective weight and then all these values for the parameter were added. high dis(1) calls made behavior knowledge of executive reply of executive brokerage trading screen & browser speed account opening duration meeting before activation Response time 10 0 0 1 10 0 13 3 3 high dis(2) neut(3) sat(4) sat(5) 7 10 20 3 0 5 40 5 5 3 29 13 7 10 26 6 5 5 23 7 0 17 17 7 2 0 6 2 31 18 19 29 17 2 2 9 Table – 2 Now.68 3.98 4 4 3.58 3.

in the above graph we can see the least score is for the account opening duration. Yet. that is approaching 5.Table – 3 Now. while the score for trading screen and browser speed is 4.68 4 2.3 browser speed brokerage Figure – 25 As one can see in the above figure.58 3.5 will signify satisfaction while values below that will satisfy dissatisfaction.98 3 2 meeting before activation 2. Taking these values the following graph was plotted. 37 .58. we can say that the difference between the score and maximum is the gap in satisfaction level. Here. for the study conducted each weighted average is the score for that particular parameter.24 reply of executive trading screen & 4. calls made 5 Response time 3. which is 2. since maximum possible score is five.58 3. any score above 2. Now. the blue line signifies the score or customers‟ perception while the red line shows the maximum possible score or customers‟ expectation. so satisfaction in this regard is very high.3.82 1 0 knowledge of 4 executive SCORE MAX 4behavior account opening duration 2. So the area lying between the two lines shows the customer gap. while maximum possible score can be only five.

that is the online trading. 12.24 only. 6. Telephone encounters that relate to customer acquisition are responsible for a lower satisfaction. 3. been found to be satisfied with the reply of the executives to their query. the things which have emerged during the course of the study are: 1. 9. The behaviour of the employees is satisfactory in the eyes of the customers. This can be inferred from the average of the query which is 3. This happens mainly because of the repeated calls to the same customer. 10. The response time of the executives has also played an important role in the satisfaction level of the customers.Findings The last graph in the previous section (figure – 25) can be used to summarize the major findings of the study. 13. 5. Telephone encounters. Here it has emerged that the remote encounter which occurs more frequently. generally. Eighty-eight percent respondents believed that the IISL executives understood their requirements quite well and were hence satisfied. 8. 2. Eighty percent respondents were found to be satisfied with the work of their relationship manager (RM). the customers are satisfied with the demonstration. It also emerged that many times application forms take 4-6 days longer to get activated despite not being in deficiency. yet there is scope for improvement. but in many cases this stretches to 16-18 working days. Brokerage charged by the company is one area where the company should work on. related to toll-free number also create a higher level of satisfaction. 4. Even. is responsible for higher level of satisfaction. 38 . The customers have. 11. during the interaction with employees it was found that despite knowledge at times they are not able to give a very good demonstration. Generally. as is clear from the average of 3. 7.68. Some service encounters are very critical in creating higher level of satisfaction. The time taken to activate the account is a source of dissatisfaction as there exists a promotional gap. Customers are highly satisfied with the knowledge of the executives. Thus. or after deficiencies are cleared. The company promises to activate the account in 10-12 working days. The satisfaction index shows the level of satisfaction in this regard to have an average of 3.58 and is very close to satisfaction level.

2. which would clearly identify the contact employees who make calls for customer acquisition. Those points where the gap is less. yet certain aspects can be taken care of. 3. the company should look at and immediately try to bridge the gap.Suggestions The company can do well by implementing certain changes and bringing out some improvements in its operations. especially in intra-day trading. Besides it will portray the service system so that the different people involved in the process can understand and deal with it objectively regardless of their roles or their individual points of view. most of the service encounters are basic and could not be done away with. This would place more importance on remote encounter and telephone encounters where the satisfaction level is good. We saw that. Employees should be trained continually especially in the technical aspects of the job so that they can keep the number of deficiencies to the minimum and thereby decrease the procedural gap. as the customers feel that major players like ShareKhan and Religare are charging lower brokerage in different plans. Brokerage charged by the company should also be brought down to compete with other players. the difference between the blue line and red line shows the customer gap. This training will subsequently further reduce the number of face-to-face service encounters. the number of which is already low. 6. 5. But those areas where the gap is greater. Account activation duration should be decreased from the present level of 16-18 working days to the promised duration of 10-12 working days. Company should draw a new blueprint. The company may: 1. 39 . As has been observed in the satisfaction index graph. This would not only fasten the process of account activation but also improve customer satisfaction. the company should try to work on in the long run as the satisfaction is higher and thus would be further enhanced. 4. Mock demonstration should be conducted by the employees in the office itself by the onstage contact employees among themselves and they should try to assess their weakness and strengths in the presentation. This will bring down the promotional gap.

The work environment was such that one not only gets to learn the sales part. It can be said that learning was not limited to academic field rather was also practical. which was the core work area. but also helped develop an aptitude for understanding ups and down of the equities market. Moreover working in team and professional attitude are two important attributes that was developed during the course of this study.Learning from the Research During the course of this study service blueprinting was learned which is a very important concept in service design and delivery. Besides working in the field instilled confidence and knowledge of financial market. 40 .

the service encounters which could be satisfying or dissatisfying to the customers had to be understood. information systems. For this SERVQUAL was taken as the model. Then the concept of service blueprint was used to understand customer needs and as a tool of service improvement. rather the research required application of several disciplines like marketing research. As such. finance and above all marketing of services. Through the service blueprint. Questionnaire designing was an important issue because through it not only customer gap had to be understood but also. Marketing of services assumes special importance in the current economic scenario not only because of the share of services in Indian GDP but also because of the fact that as an economy develops its share in GDP increases. the research was conducted to apply the concepts learned before the beginning of this internship. quantitative techniques. 41 . These concepts were not limited to domain area. The research was an opportunity to understand the service delivery process of a major financial institution of the country. The fieldwork undertaken was challenging and one could easily observe the group dynamics at work. and as such this is applicable across the world.Conclusion This project was an opportunity for the application of concepts of marketing in the real-time. Finally the research has come out with suggestions which could be implemented by the company in order to enhance its service quality. all the service encounters were analyzed and classified as most satisfying and dissatisfying service encounters.

Are the IISL executives able to properly explain the product? a) Yes b) No 3.APPENDIX QUESTIONNAIRE Name: Age : Below 25___ 25 – 35___ 35.45___ above 45___ Company: Occupation: 1. Do you have access to research reports? a) Yes b)No 11.5 years c) more than 5 years 2. Do you have relationship manager (RM) assigned to you? a) Yes b) No 9. Are you satisfied with your RM’s work? a) Yes b) No 10. Are the IISL executives able to understand your requirements? a) Yes b) No 4. Are the IISL executives able to reply to your queries to your satisfaction? a) Yes b) No 5. Did the executive give you a proper demo? a) Yes b) No 7. Do you find the website useful? a) Yes b) No 14. How long have you been associated with IL&FS Investsmart Securities Limited (IISL)? a) 0-1 years b) 1. Do the IISL executives meet you at the scheduled appointments? a) Yes b) No 6. Are you satisfied with your online trading facilities? 42 . Do you find the toll free number to be useful? a) Yes b)No 12. Do you receive timely tips from IISL? a) Yes b) No 8. Your calls are replied to in proper manner by the executive? a) Yes b) No 13.

Dissatisfied Neutral Satisfied High Low Somewhat High Calls made by IISL employees The behavior of the employees The employees reply to your queries The employee’s knowledge to advise you about the trading.a) Yes b)No 15. The brokerage charged Online trading screen & speed of the browser Time taken to open your trading account by IISL 1 1 1 1 1 1 1 2 2 2 2 2 2 2 2 2 3 3 3 3 3 3 3 3 3 4 4 4 4 4 4 4 4 4 5 5 5 5 5 5 5 5 5 Number of times IISL executives meet 1 before activation of account Time taken to answer on your toll free 1 number 43 . the least being for dissatisfaction and higher digits for satisfaction. Which aspect of the service provided by IISL that left you dissatisfied? 17. Rank the below mentioned parameters on 1 to 5. What was your most satisfying experience with IISL? 16.

challenges & the future (pp. Shostack. new delhi: dorlingkind. B. C. Breaking Free from Product Marketing. M. (2007). Danaher. Customer Satisfaction during the Service Delivery Process. Shostack. Tempe: Arizona State University. (1977). The Journal of Marketing . G. (2007). G. L. (2006). Lofgren. Peter J. (2006). Interaction Design and Service Design: Expanding A Comparision of Design Disciplines. M. New York: Lexington Books. Linkopings: Linkopings Universitet. 44 . S. Fort Worth: The Dryden Press. Retrieved 03 15. 5-16. The Service Encounter (pp. Services Marketing. 2009. 12 07). (1997). J. Assessment of employees' perceptions of service quality and satisfaction with e-business. Zeithaml. In M. (2007. New York: Tata McGraw . Lai. lovelock. Forty four year of computer personnel research:achievements. Managing Service Quality . J.Czepiel.A. 7380. from http://coevolving. 102-115. Service Blueprinting: A Practical Technique for Service Innovation. J. M. Exploring Marketing Research.Bibliography Bitner. 236-243). W. Daviding. (2005). O. (1985). (2000). (1994).Hill. 243-54).com/commons20070428-BerkeleyServices-1030-papersapplyingservices Holmlid. G. L.com/: http://coevolving. European Journal of Marketing . Winning at the first and second moments of truth: an exploratory study.-Y. Services Marketing. Zikmund. Planning The Service Encounter. New York: ACM. w.

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