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A Study on customer satisfaction in foreign exchange services provided by Thomas Cook (India) Ltd.

Mohammad Shaban Khan


(Roll No. 16090) PGDM

Studied By

SIVA SIVANI INSTITUTE OF MANAGEMENT KOMPALLY, SECUNDERABAD-14 2007-09

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CONTENTS
Chapters
I INTRODUCTION
1.1 1.2 1.3 1.4 1.5 1.6 Meaning of Foreign Exchange Scope of the Study Significance of the Study Need for the Study Objective of the Study Scheme of the Study

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5
6 8 8 9 9 10

II

ORGANIZATION PROFILE
2.1 2.2 2.3 Industry Profile Company Profile (Thomas Cook India Limited) Departmental Details 6 11 11

III

RESEARCH METHODOLOGY
Research Design Study Area Sampling Method & Tools of Data Collection Data Processing & Analysis Duration of the study Limitations of the study

15
15

3.1 3.2 3.3 3.4 3.5 3.6 3.7

IV V VI

DATA ANALYSIS
Analysis of the Data, Interpretation

17 26 28

4.1

FINDINGS RECOMMENDATIONS & CONCLUSION

Annexure Bibliography

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DECLARATION
I hereby declare that this project report titled A study on Customer satisfaction in Foreign exchange services provided by TCIL is an original work done in Thomas Cook (India) Ltdunder the guidance of Mr. Siva Kumar Thampi (Sr.Mgr. TCIL) and Ms. P.Sharvari Srinivas (Manager-Foreign exchange.TCIL) submitted by me for the partial fulfillment of the requirements for the award of my Post Graduate Diploma in Business Administration.

Date: Place: Secunderabad Signature

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ACKNOWLEDGEMENT
It gives me immense pleasure to place on records my profound gratitude and sincere appreciation to each and every person who has helped me in this endeavor. I am ineffably indebted to Mr. Siva Kumar Thampi, Ms. P.Sharvari Srinivas for conscientious guidance and encouragement to accomplish this assignment. I would also like to thank Mr. B.R. Ganesh, Mr. Narendar.k & Other Staff Member of the Company who helped me. I also thank my friends for extending their co-operation in completion of this project Any omission in this brief acknowledgement does not mean lack of gratitude.

Date: Place: Secunderabad Signature

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Chapter 1
Introduction In this era of globalization ,people/company are migrating and operating from one country to another. But the value of currency of one country differes from another. So the people face various problems to transact from owned local currency in to the international market. So a service marketer wanted to make it convenient when the transaction is done between different value of currency. This study has been undertaken to analyze wether the customers who deals with TCIL for foreign exchange services in this twin cities are satisfied with the services provided by the TCIL or not. In todays market there are many foreign exchange service providers,but every customer has some preferance to choose a particular foreign exchange service provider, and the customer who has used TCIL service atleat once will only use the TCIL services again when he is satisfied with the services provided by the TCIL; because if performance falls short of expecations the customer is dissappointed and if it meets the expectations the customer is satisfied. A satisfied customer is a repeat buyer and if the customer is satisfied they also says good things about the product or services to the others.

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Meaning of Foreign Exchange:The foreign exchange market exists wherever one currency is traded for another The foreign exchange market is an over the counter market in which currencies of different countries are bought and sold against each other. Foreign Exchange is nothing but claims of the residents of a country to foreign currency payable abroad. It is a method of converting one country's currency into another. So long as there is a cross border flow of funds, the need for such conversion/exchange continues to arise;for example if you are living in India and want to buy electronic goods from Japan , either you or the company that you buy the electronic goods from has to pay them in Yen. This means that the Indian importer would have to exchange the equivalent value of Indian Rupee (INR) into Yen. The same goes for traveling. An Indian tourist in China can't pay in INR to see the Great wall of China because it's not the locally accepted currency. As such, the tourist has to exchange the INR for the local currency. Features of Forex Market:One unique aspect of this international market is that there is no central marketplace for currency exchange. Rather, trade is conducted electronically over-the-counter (OTC), which means that all transactions occur via computer networks between traders around the world, rather than on one centralized exchange.

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The market is open 24 hours a day, five and a half days a week. Currencies are traded worldwide in the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney - across almost every time zone. This means that when the trading day in the U.S. ends, the forex market begins anew in Tokyo and Hong Kong. As such, the forex market can be extremely active any time of the day, with price quotes changing constantly.

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Scope of the Study The scope of the study is restricted to twin cities of Hyderabad and Secundrabad only.
In this era it is very imperative to know about the customer satisfaction about a particular product or services in order to improve the quality of product or services. So that business can sustain in the market. With their money consumers elect the retailers, and if they are not satisfied by the service of one company they will surely go and use the same service provided by the other company where they are satisfied. So ultimately, Consumers determine which companies will survive in the market, and which will go out of business.

Significance of the Study Only customers can determine the fate of the company; that means only customers determine which organizations will survive and which one will fail. After knowing the customer satifaction level; the company can know with which services the customers are most satisfied improvement Thomas cook (India) Ltd provides foreign exchange services for the retail as well as whole sale customers. Since Thomas cook (India) ltd is the only non bank authorized dealer of foreign exchange and it is a big player in this field so in order to improve the quality of services this study has been undertaken. and which services need

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Need for the Study: - . A foreign exchange market exist wherever one currency is traded for another. Thomas Cook(I) Ltd is the only non Bank authorized dealer of foreign exchange.Thomas Cooks AD license permits undertaking of current account transaction both retail foreign exchange and wholesale foreign exchange. Since TCIL is a big player in foreign exchange services, which have lots of customers and these Customers play a vital role in the increase of sales and in
getting profits to the company. As competition in foreign exchange market is growing up day by day, every company needs to concentrate on each and every aspect of its activities. Customers should be satisfied with the foreign exchange rates,service quality, place where it is located, etc.So every company needs to know the satisfaction level of its customers; and try to reach expectations of the customers.

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Objectives of the Study: To know the level of customer satisfaction in foreign exchange services provided by the Thomas cook India ltd. To know the customer prefered transactions with Thomas cook foreign exchange. To know the customers opinion towards foreign exchange rates provided by thomas cook India Ltd.

Scheme of the Study:This whole project report has been divided in to six chapters. In first chapter introduction part has been given. That consists of meaning of foreign exchange, Scope, significance and need for the study. In second chapter, Industry profile and company profile has been included in brief. Third chapter consists of design of the study. In this whole research design has been included. Forth chapter consists of Data analysis and interpretations part by the help of graph and pie chart. Before every graph the question has been given so that the graph result can be understood easily. In sixth chapter all findings have been given. In the last chapter Recommendations and conclusions part has been given.

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Chapter 2
Industry Profile
Market Participants Unlike the equity market - where investors often only trade with institutional investors (such as mutual funds) or other individual investors there are additional participants that trade on the forex market for entirely different reasons than those on the equity market. Therefore, it is important to identify and understand the functions and motivations of the main players of the forex market.
Governments and Central Banks Arguably, some of the most influential participants involved with currency exchange are the central banks and federal governments. In most countries, the central bank is an extension of the government and conducts its policy in tandem with the government. However, some governments feel that a more independent central bank would be more effective in balancing the goals of curbing inflation and keeping interest rates low, which tends to increase economic growth. Regardless of the degree of independence that a central bank possesses, government representatives typically shave regular consultations with central

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bank representatives to discuss monetary policy. Thus, central banks and governments are usually on the same page when it comes to monetary policy. Central banks are often involved in manipulating reserve volumes in order to meet certain economic goals. For example, ever since pegging its currency (the Yuan) to the U.S. dollar, China has been buying up millions of dollars worth of U.S. treasury bills in order to keep the Yuan at its target exchange rate. Central banks use the foreign exchange market to adjust their reserve volumes. With extremely deep pockets, they yield significant influence on the currency markets. Banks and Other Financial Institutions In addition to central banks and governments, some of the largest participants involved with forex transactions are banks. Most individuals who need foreign currency for small-scale transactions deal with neighborhood banks. However, individual transactions pale in comparison to the volumes that are traded in the inter bank market. The interbank market is the market through which large banks transact with each other and determine the currency price that individual traders see on their trading platforms. These banks transact with each other on electronic brokering systems that are based upon credit. Only banks that have credit relationships with each other can engage in transactions. The larger the bank, the more credit relationships it has and the better the pricing it can access for its customers. The smaller the bank, the less credit relationships it has and the lower the priority it has on the pricing scale.

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Banks, in general, act as dealers in the sense that they are willing to buy/sell a currency at the bid/ask price. One way that banks make money on the forex market is by exchanging currency at a premium to the price they paid to obtain it. Since the forex market is a decentralized market, it is common to see different banks with slightly different exchange rates for the same currency. Hedgers Some of the biggest clients of these banks are businesses that deal with international transactions. Whether a business is selling to an international client or buying from an international supplier, it will need to deal with the volatility of fluctuating currencies. If there is one thing that management (and shareholders) detests, it is uncertainty. Having to deal with foreign-exchange risk is a big problem for many multinationals. For example, suppose that a German company orders some equipment from a Japanese manufacturer to be paid in yen one year from now. Since the exchange rate can fluctuate wildly over an entire year, the German company has no way of knowing whether it will end up paying more Euros at the time of delivery. One choice that a business can make to reduce the uncertainty of foreignexchange risk is to go into the spot market and make an immediate transaction for the foreign currency that they need. Unfortunately, businesses may not have enough cash on hand to make spot transactions or may not want to hold massive amounts of foreign currency for long periods of time. Therefore, businesses quite frequently employ hedging strategies in order to lock in a specific exchange rate for the future or to remove all sources of exchange-rate risk for that transaction. For example, if a European company wants to import steel from the U.S., it would have to pay in U.S. dollars. If the price of the euro falls against the dollar before payment is made, the European company will realize a financial loss. As such, it
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could enter into a contract that locked in the current exchange rate to eliminate the risk of dealing in U.S. dollars. These contracts could be either forwards or futures contracts. Speculators Another class of market participants involved with foreign exchangerelated transactions is speculators. Rather than hedging against movement in exchange rates or exchanging currency to fund international transactions, speculators attempt to make money by taking advantage of fluctuating exchangerate levels.

Some of the largest and most controversial speculators on the forex market are hedge funds, which are essentially unregulated funds that employ unconventional investment strategies in order to reap large returns. Think of them as mutual funds on steroids. Hedge funds are the favorite whipping boys of many a central banker. Given that they can place such massive bets, they can have a major effect on a countrys currency and economy. Some critics blamed hedge funds for the Asian currency crisis of the late 1990s, but others have pointed out that the real problem was the ineptness of Asian central bankers.

Company Profile
Thomas cook is the first largest travel group in India ,second largest travel group in Europe & third largest travel group in the world. The presence of
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Thomas cook is world wide. It employs on an average of 33,000 staffs world wide. Thomas Cook has 97 owned & leased air crafts. Thomas Cook (India) Ltd. is the largest Travel and Financial Services Company in the country offering a broad spectrum of travel-related services that include Foreign Exchange, Corporate Travel, Leisure Travel, and Insurance. The Company launched its Indian operations in 1881 and is celebrating its 125 years of world-class service in India. Thomas Cook (India) Ltd. presently operates in over 55 cities across 200 locations in the country. The company has overseas operations in 12 countries across the globe.

Departmental Profile:-

Different Services Provided By Thomas Cook

Leisure Travel
The leisure travel division of the Company promotes domestic inbound/ outbound holidays. It operates over 40 Group Inclusive Tours (GIT) to leading
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destinations in all 5 continents and also promotes Free Individual Travel (FIT) to over 50 countries around the globe. Thomas Cook India Ltd recently launched a premium holidays brand 100% Holidays. The new brand would offer international group holidays segment as well as for the customized individual holidays products. With 100% Holidays Thomas Cook India will strengthen its position in the outbound leisure travel business; the new brand will operate as a product brand under the corporate Thomas Cook India brand Corporate Travel Management Thomas Cook (India) effectively "manages" the travel budgets of several large national and multinational companies. Handling higher volumes results in effectively being able to negotiate preferential rates with principals, consequently leading to meaningful savings for the Company's corporate clients. For personalized service at corporate doorsteps, Thomas Cook sets up 'On-sites', which are CRS-linked and offers comprehensive end to end travel solutions

SWIFT Network
Money Gram money transfer service for quick money transfers to India from anywhere in the world. It is also the largest player in the bulk foreign exchange business handling bulk currency volumes for the countries leading banks and moneychangers.

Travel Insurance
It is the only Travel Company in India, to have registered license to sell insurance and to offer its own co - branded travel insurance products Viz. Travel
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Care, Scholar Care, Family Care and Corporate Care which are exclusively designed for different customer segments like, Leisure Traveler, Students, Family, Corporate & Frequent Flyers All these products are underwritten by TATA AIG General Insurance Co Ltd.

Foreign Exchange
Thomas Cook (India) Ltd is a leading foreign exchange provider and offers a wide range of innovative products and services. These include Global Money Card, a pin protected pre-paid card which enables travelers to withdraw local currency from more than 1 million VISA ATMS and use the card for goods and services at over 22 million VISA Merchant Establishments; Wire transfers of funds worldwide. TCIL has Foreign Exchange Counters at the international airports of Mumbai, New Delhi, Kolkata, Chennai, Cochin and Trivandrum, open 24 hours and 365 days a year to cater to the needs of the international and domestic traveler. TCIL also has a round-the clock Foreign Exchange counter at the New Delhi Railway Station.

Vision
To become the No.1 company in all core businesses, through Customer Focus and Team Work.
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Mission
Exceptional Service from exceptional people

Service Strategy
To deliver exceptional service to all internal and external customers By Being Proactive Speedy Flexible Transparent Reliable Creative By Providing Professional Service By Ensuring Personal Care

Chapter 3 Research Methodology


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Research Design: A descriptive-analytic research design is adopted in this study. Study Area: This study is carried out in twin cities Hyderabad & Secunderabad with a special reference to Thomas Cook (India) Ltd., Foreign exchange branch at Saifabad, Hyderabad. Sampling Techniques:

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Sampling Type: sample.

Convenient random sampling is used to select the

Sample Size: from the customers of Twin Cities (Hyderabad & Secunderabad).

Source of Data Collection: All the data used is collected from both primary and secondary sources. There are two main sources fo data: Primary data Secondary data

Primary data: Questionnaire was filled by face-to-face interview with the customers to know their response.

Secondary brochure.

data

Industry

profile

has

been

collected

from

websites,company profile has been collected from company website and

Data Processing and Analysis: Data are process with the help of Ms excel using pie charts, and after every pie chart the interpretataion has been written. Duration of the Study: This study was done between 8th April 2008 to 8th June 2008.

Limitations of the Study:


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The respondents may not disclose the right information. The respondents may give the pleasing answers to me even though it is Not correct from their prespective. Some respondents may give me the biased answers to the questions. This study is been limited to the twin cities of Hyderabad and secundraBad only.

Chapter 4
ANALYSIS OF THE DATA & Interpretation
1. The following table shows the frequency of customers visiting Thomas cook gender-wise.

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Table 1 Gender Male Female Total Frequency 72 28 100

Source: - Data collected from the questionnaire.


GENDER

28% Male Female 72%

INFERENCE: 72% are the male respondents using the Thomas cook forex service 28% are the female respondents using the Thomas cook forex service.

2. The following transactions. Transaction Buying Selling Total

table

shows

the

foreign

exchange

Frequency 69 31 100
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Source: - Data collected from the questionnaire.

Foreign exchange transaction

31% buying selling 69%

INFERENCE: 69% of the respondents visits the Thomas cook to buy the foreign exchange and 31% of the respondents visits the Thomas cook to sell the foreign exchange.

3. The following table shows the foreign exchange service

customer

wants. Frequency 70 5 11 14
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Foreign exchange service Foreign currency Wire transfer Foreign currency demand draft Travellers cheque

Total

100
Source: - Data collected from the questionnaire.

Foreign exchange service customer want

14% 11% foreign currency wire transfer of money foreign currencydemand draft 5% 70% traveller's cheque

INFERENCE: 70% of the respondents visits the Thomas cook for the foreign currency, 5% of the respondents visits the Thomas cook to use wire transfer service, 11% of the respondents visits the Thomas cook for making foreign currencydemand draft and 14% of the respondents visits Thomas cook for travellers cheque.

4. The following table shows the customers satisfaction

level with the foreign exchange rates. Foreign exchange rates Highly satisfied Satisfied Moderately satisfied Dissatisfied Frequency 12 38 29 13
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Highly dissatisfied Total

8 100

Source: - Data collected from the questionnaire.

Foreign exchange rates

8% 13%

12% highly satisfied satisfied moderately satisfied dissatisfied 38% highly dissatisfied

29%

INFERENCE: 12% of the respondents are highly satisfied with the foreign exchange rates provided by the Thomas cook, 38% of the respondents are satisfied, 29% of the respondents are moderately satisfied, 13% of the respondents are dissatisfied and only 8% of the respondents are highly disatisfied with the foreign exchange rates provided by Thomas cook.

5. The following table shows the customers satisfaction

level with the accessibility of the branch visited. Accessibility of the branch Frequency visited Highly satisfied 19 Satisfied 28 Moderately satisfied 41
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Dissatisfied Highly dissatisfied Total

3 9 100

Source: - Data collected from the questionnaire.

Accessibility of the branch visited

3%

9%

19% highly satisfied satisfied moderately satisfied dissatisfied

41%

28%

higly dissatisfied

INFERENCE: 19% of the respondents are highly satisfied with the accessibility of the branch visited,28% of the respondents are satisfied, 41% of the respondents are moderately satisfied, 3% of the respondents are dissatisfied and 9% of the respondents are highly didsatisfied with the accessibility of the branch visited.

6. The following table shows the customers satisfaction

level with the signages to identify the branch. Signages Highly satisfied Satisfied Moderately satisfied Frequency 16 22 51
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Dissatisfied Highly dissatisfied Total

5 6 100

Source: - Data collected from the questionnaire.

Signages to identify the branch

5%

6%

16% highly satisfied satisfied moderately satisfied 22% dissatisfied higly dissatisfied

51%

INFERENCE: 16% of the respondents are highly satisfied with the signages to identify the branch, 22% of the respondents are satisfied, 51% of the respondents are moderately satisfied, 5% of the respondents are dissatisfied and 6% of the respondents are highly dissatisfied with the signages to identify the branch.

7. The following table shows the customers satisfaction

level with the staff greeting and friendly welcome. Staff greeting Highly satisfied Satisfied Moderately satisfied Frequency 48 32 12
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Dissatisfied Highly dissatisfied Total

8 0 100

Source: - Data collected from the questionnaire.

Staff greeting and welcome

8% 12%

0% highly satisfied 48% satisfied moderately satisfied dissatisfied higly dissatisfied

32%

INFERENCE: 48% of the respondents are highly satisfied with the staff greeting and welcome,32% of the respondents are satisfied, 12% of the respondents are moderately satisfied, 8% of the respondents are dissatisfied, and not even the single repondent is highly dissatisfied with the staff greeting and welcome.

8. The following table shows the customers satisfaction

with the staffs ability of understanding their requirement.


Staffs understanding of customer requirement Highly satisfied Frequency 13
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Satisfied Moderately satisfied Dissatisfied Highly dissatisfied Total

25 47 8 7 100

Source: - Data collected from the questionnaire.

Staff's understanding of customer requirement

8%

7%

13% highly satisfied satisfied moderately satisfied 25% dissatisfied higly dissatisfied

47%

INFERENCE: 13% of the respondents are highly satisfied with the staffs ability to understanding their requirement,25% of the respondents are satisfied, 47% of the respondents are moderately satisfied, 8% of the respondents are dissatisfied and 7% of the respondents are highly dissatisfied with the staffs ability to understanding their requirement.
9. The following table shows the customers satisfaction

with the staff grooming. Staff grooming Highly satisfied Satisfied Moderately satisfied Dissatisfied Frequency 41 28 11 20
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Highly dissatisfied Total

0 100

Source: - Data collected from the questionnaire

Staff grooming

20%

0% 41% highly satisfied satisfied moderately satisfied dissatisfied higly dissatisfied 28%

11%

INFERENCE: 41% of the respondents are highly satisfied with the staffs grooming ,28% of the respondents are satisfied, 11% of the respondents are moderately satisfied, 20% of the respondents are dissatisfied and not even the single respondents is highly dissatisfied with the staffs grooming.

10. The following table shows the customers satisfaction

with the accuracy in documentation. Accuracy in documentation Highly satisfied Frequency 24


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Satisfied Moderately satisfied Dissatisfied Highly dissatisfied Total

32 23 21 0 100
Accuracy in documentataion

Source: - Data collected from the questionnaire

21%

0%

24% highly satisfied satisfied moderately satisfied dissatisfied

23% 32%

higly dissatisfied

INFERENCE: 24% of the respondents are highly satisfied with the accuracy in documentation,32% of the respondents are satisfied, 23% of the respondents are moderately satisfied, 21% of the respondents are dissatisfied and not even the single respondents is highly dissatisfied with the accuracy in documentation.
11. The following table shows the customers satisfaction

with the clarification given to their queries. Clarification for the queries Highly satisfied Satisfied Moderately satisfied Dissatisfied Frequency 21 33 35 10
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Highly dissatisfied Total

1 100

Source: - Data collected from the questionnaire

Clarification for queries

10%

1%

21% highly satisfied satisfied moderately satisfied dissatisfied higly dissatisfied 33%

35%

INFERENCE: 21% of the respondents are highly satisfied with the clarifications given to their queries,33% of the respondents are satisfied,35% of the respondents are moderately satisfied, 10% of the respondents are dissatisfied, and only 1% of the respondents is highly dissatisfied with the clarification given to their queries.

12. The following table shows the customers satisfaction

with the time taken by the staff to complete their requirement. Time taken to complete the Frequency requirement
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Highly satisfied Satisfied Moderately satisfied Dissatisfied Highly dissatisfied Total

27 37 23 13 0 100

Source: - Data collected from the questionnaire


Time taken

13%

0% 27% highly satisfied satisfied moderately satisfied dissatisfied higly dissatisfied 37%

23%

INFERENCE: 27% of the respondents are highly satisfied with the time taken by the staff to complete their requirement, 37% of the respondents are satisfied, 23% of the respondents are moderately satisfied, 13% of the respondents are dissatisfied and not even the single respondent is highly dissatisfied with the time ta ken by the staff to complete their requirement.
13. The following table shows the customers satisfaction

with the operating hours of Thomas cook. Operating hours Highly satisfied Satisfied Frequency 32 20
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Moderately satisfied Dissatisfied Highly dissatisfied Total

22 18 8 100

Source: - Data collected from the questionnaire

Operating hours

8% 18% 32% highly satisfied satisfied moderately satisfied dissatisfied higly dissatisfied 22% 20%

INFERENCE: 32% of the respondents are highly satisfied with the operating hours of Thomas cook, 20% of the respondents are satisfied, 22% of the respondents are moderately satisfied, 18% of the respondents are dissatisfied, and 8% of the respondents are highly dissatisfied with the operating hours of Thomas cook.
14. The following table shows the customers satisfaction

with the updates given to them regarding various new service.


Updates regarding new services Highly satisfied Frequency 10
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Satisfied Moderately satisfied Dissatisfied Highly dissatisfied Total

18 36 33 3 100

Source: - Data collected from the questionnaire


Updates regarding new services

3% 33%

10% 18% highly satisfied satisfied moderately satisfied dissatisfied higly dissatisfied 36%

INFERENCE: 10% of the respondents are highly satisfied with the updates given to them regarding various new services, 18% of the respondents are satisfied, 36% of the respondents are moderately satisfied, 33% of the respondents are dissatisfied and 3% of the respondents are higly dissatisfied with the updates given to them regarding various new services.

Chapter 5
FINDINGS

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It was found that most of the customers of thomas cook are male as they constitute 72% of the respondents. It was found that out of 100 samples taken for the study 69% of the

customers come to Thomas cook for buying the foreign exchange , and only 31% of the customers come for selling of foreign exchange . It was found that majority of the customers comes to thomas cook for

purchasing or selling of foreign currency, which comprises of 70% of the customers of Thomas cook. It was found out that most of the customers are satisfied with the foreign exchange rates, and 8% of the customers are highly dissatisfied with the foreign exchange rates. It was found out that most of the customers are moderately satisfied with the accessibility of the branch visited. It was found that most of the customers are moderately satisfied with the signages to identify the branch which comprises of 51% and 16% of the customers are highly satisfied with signages to identify the branch. It was found that most of the customers are highly satisfied with the thomas cooks staff greeting and friendly welcome.

It was found that most of the customer are only moderately satisfied (47%)with the staffs ability of understanding their requirement.

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It was found out that most of the customers are highly satisfied with the staff grooming(41%) and no customer is highly dissatisfied with the staff grooming. It was found out that most of the customers are satisfied(32%) with the accuracy in documentation and no customer is highly dissatisfied with the documentation. It was found out that most of the customers are moderately satisfied(35%) with the clarifications given to their queries. and only 1% of the customers highly dissatisfied. It was found out that most of the customers are satisfied (37%)with the time by the staff to complete their requirement. It was found out that most of the customers are highly satisfied(32%) with the operating hours of thomas cook. It was found out that most of the customers are moderately satisfied(36%) with the updates given to them regarding various new services.

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Chapter 6
RECOMMENDATIONS & CONCLUSIONS
RECOMMENDATIONS

1st Since most of the customers choose a particular Foreign exchange service provider on the basis of rates. So The Thomas Cook Foreign exchange rate should be nearer with the Nationalized Bank.

After good rates the customer choose a particular foreign exchange service provider on the basis of Locational convenience, So TCIL should have more number of branches in this twin cities, as if now it has only 2 branches in the twin city.

There should be more no:of signages so that it becomes easy for the customer to identify the branch.

The employee should be more responsive towards understanding the customer requirement as most of the customers are moderately satisfied.

The Thomas cook employees should try to update the customer more regarding various new services as the the findings suggest that most of the customers are dissatisfied with the updates given to them regarding various new services.

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Conclusions
Although TCIL is dealing with a large segment of the market, but still TCIL has a huge market opportunities.Thomas cook should have more branches in twin cities.

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BIBLIOGRAPHY:
Business Research Method Services Marketing Services Marketing Cooper & Schindler Rajendra Nargundkar Zethaml & Bitner

Website:www.google.com www.thomascook.co.in

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