“An Analytical study on the consumer behavior and

customer satisfaction with reference to

ICICI BANK SERVICES”

UNDER THE GUIDANCE OF

Mr. JAYABALAN
FACULTY, INC, ANNA NAGAR

BY
T. AROCKIYA STEPHENRAJ
(7NBCA044)
MBA

A REPORT SUBMITED IN PARTIAL FULFILLMENT OF THE

REQUIREMNTS OF THE MBA PROGRAM
THE CLASS OF 2009
INC, ANNA NAGAR

1
 CERTIFICATE

This is to certify that this project work entitled

“An Analytical study on the consumer behavior and customer

satisfaction with reference to

ICICI BANK SERVICES”

Is a bonafide record of work done

By

T. AROCKIYA STEPHENRAJ (7NBCA044)

MASTER OF BUSINESS ADMINISTRATION
ICFAI NATIONAL COLLEGE

Under the guidance of

Prof.Mr.Jayapalan
Faculty Guide
ICFAI National College
Anna Nagar

2
 DECLARATION

I hereby declare that the project work entitled “An

Analytical study on the consumer
behavior and customer satisfaction
with reference to ICICI BANK
SERVICES” submitted to the ICFAI NATIONAL
COLLEGE, is a record of an original work done by me
under the guidance of MR.JAYAPALAN, Faculty Member,
ICFAI NATIONAL COLLEGE, ANNA NAGAR and this
project work has not performed the basis for the award of
any Degree or diploma/ associate ship/fellowship and similar
project if any.

T. AROCKIYA STEPHENRAJ
(7NBCA044)
3
 Acknowledgement

My sincere thanks to Mr. Siva ram swamy, the Principal of this

ICFAI National College, Anna nagar center. He has helped
indirectly by approving the topic and by giving the chance to do
my project.

I am very grateful to Prof. P. Jayapalan the Guide of the project

for guiding and correcting various documents of mine with
attention and care. She has taken pain to go through the project
and make necessary correction as and when needed.

I would also thank my Institution and my faculty members

without whom this project would have been a distant reality. I
also extend my heartfelt thanks to my family and friends in
helping me to do my project.

4
 CONTENTS

Chapter 1

INTRODUCTION

OBJECTIVE

RESEARCH METHODOLOGY

Chapter II

INDUSTRY PROFILE

COMPANY PROFILE

Chapter III

ANALYSIS AND INTERPRETATION

SWOT ANALYSIS

Chapter IV

FINDINGS

SUGGESTIONS

Chapter V

CONCLUSION

5
 BIBLIOGRAPHY
ANNEXURE

EXECUTIVE SUMMARY

This project aims to “An Analytical study on the consumer

behavior and customer satisfaction with reference to ICICI BANK
SERVICES”

The primary data is collected with the help of questionnaire framed by me and
meeting each and every ICICI customer and also getting their feedback as well as
the suggestions. From this detailed survey it is found that most of the customers are
satisfied with the service of the ICICI Bank. Consumer satisfaction surveys
measure and monitor the opinions and behaviors of your clients and customers.
The customer is always right…that is why it makes smart business sense to
regularly get feedback from your current clients and customers. An online
consumer satisfaction survey can accomplish this task easily and affordably.

Consumer Behavior Social Influences on Consumer Decision Making Behavioral

scientist have become increasingly aware of the powerful effects of the social
environment and personal interactions on human behavior. In terms of consumer
behavior, culture, social class, and reference group influences have been related to
purchase and consumption decisions Culture and Subculture
• Culture values are transmitted through three basic organizations:
 The Family
 Religious Organizations

6
 Educational Institutions

Introducti
on
7
 Introduction

Customer satisfaction is an important theoretical as well as practical issue for most

marketers and consumer researchers (Churchill and Suprenant, 1982; Moutinho
and Goode, 1995; Naser et al., 1999; Piercy, 1994). Customer satisfaction is a
major outcome of marketing activity whereby it serves as a link with various stages
of consumer buying behavior. For instance, if customers are satisfied with a
particular service offering after its use, then they are likely to engage in repeat
purchase and try line extensions (East, 1997). Customer satisfaction is widely
recognised as a key influence in the formation of consumers' future purchase
intentions (Taylor and Baker, 1994). Satisfied customers are also likely to tell
others of their favourable experiences and thus engage in positive word of mouth
advertising (File and Prince, 1992; Richens, 1983). This positive word of mouth
advertising is particularly useful in collectivist Asian cultures like that of Pakistan

8
where social life is structured in a way to improve social relationships with others
in the society (see Hofstede, 1980; Hall and Hall, 1987). Dissatisfied customers, on
the other hand, are likely to switch brands and engage in negative word of mouth
advertising.

A recent study conducted by Levesque and McDougall (1996) confirmed and

reinforced the idea that unsatisfactory customer service could lead to a drop in
customer satisfaction and willingness to recommend the service to a friend. This
would lead to increase in switching by customers. So, the significance of customer
satisfaction and customer retention in strategy development for a 'market oriented'
and 'customer focused' firm cannot be underestimated.

Customer satisfaction can be considered as the essence of success in today's highly

competitive world of business. Customer satisfaction is increasingly becoming a
corporate goal as more and more companies strive for quality in their products and
services (Bitner and Hubbert, 1994). In this context, an understanding of
'determinant of customer satisfaction' (Churchill and Suprenant, 1982; Levesque
and McDougall, 1996) is of great significance to marketers. The current paper
reports findings from a recently conducted study which looked into the
significance and importance of various determinants of customer satisfaction in
retail banking in an Asian country--Pakistan.
9
Customers, who are central to the banking service, are not a homogeneous class.
They come from varying socio economic and cultural backgrounds. The perception
of the quality of banking services provided will differ from customer to customer
and even for the same customer at different points of time depending on his the
mood and mindset at a particular point of time. A customer who needs money and
comes to an ATM on a Sunday to find that it is not working is likely to be much
more dissatisfied than if she/he were to find the same ATM temporarily out of
order on a working day.

Some other factors that may influence perceptions of banking service quality are

 Overall ambience at the bank

 Past experience with the bank
 Familiarity with the services offered by the bank, the procedures followed
etc.
 Knowledge of experience with competitors products and services
 Banking with a particular bank may be regarded as a status symbol
 Interaction with and/or opinions of other customer’s rights etc.

Banking services in India

With years, banks are also adding services to their customers. The Indian banking
industry is passing through a phase of customers market. The customers have more
choices in choosing their banks. A competition has been established within the
banks operating in India.

10
With stiff competition and advancement of technology, the services provided by
banks have become more easy and convenient. The past days are witness to an
hour wait before withdrawing cash from accounts or a cheque from north of the
country being cleared in one month in the south.

This section of banking deals with the latest discovery in the banking instruments
along with the polished version of their old systems.

11
 Vision
Document

12
OBJECTIVES

 To create awareness about the services provided by the ICICI bank

 To find consumer satisfaction level
 To find consumer behavior towards ICICI bank services
 To give solution to the weaker area

SCOPE OF THE STUDY

 The study has been limited to Chennai city alone.

LIMITATIONS
Though the study aims to achieve the above mentioned objectives it may
be hampered due to certain limitations.
They are,
 Locating target customers for the survey.
 Selection of customers.
 Getting accurate response from the respondents due to personal
problems of the customers.
 Customers may be partial or refuse to co-operate

13
Research
&
Methodol
ogy
14
 Research and methodology

A research design is purely and simply the framework of plan for a study
that guides the collection and analysis of data. It is a blue print that is followed in
completing a study.

The DESCRIPTIVE RESEARCH DESEGN is the research design that

is used here in identifying the “An Analytical study on the consumer
behavior and customer satisfaction with reference to ICICI BANK
SERVICES”

This method is basically used to establish priorities in studying the

competing explanations of the phenomenon. The descriptive study is also used to
increase the analyst’s familiarity with the problem under investigation. Descriptive
research design is concerned with determining frequency with which something
occurs or how two variables vary together

15
SAMPLING TECNIQUES

The approach where only few units of population under study are considered
for analysis is called sampling method. The sampling technique being used in the
study is random sampling.

SAMPLING SIZE:

The research has to select a relevant fraction of the population, which is a

representative of the entire population or universe. The sampling size will be small
in the case of the descriptive study where less than 1 present is sufficient to provide
reliable results.

The sample size that is taken for the preparation of the project report is a
total of 50, which is taken within Chennai city, which covers some part of both
North Chennai and South Chennai.

COLLECTION OF DATA

DATA SOURCE

In this stage there is a need to gather primary as well as secondary data.

Primary data are collected on original information gathered for a specific purpose
either through personal interviews/ Questionnaires etc., and secondary data is
collected from already existing sources in various organizations brouchers and
records.
16
PRIMARY DATA

The present study had used survey method or collecting the primary data by
distributing questionnaires to various respondents.

SECONDARY DATA

Secondary data is those data which has been collected already and
recorded, but not for the purpose of the project. It is available from internal and
external sources.

Information is obtained from the internal sources like published data of the
company has been collected.

External data is collected from various websites.

RESEARCH INSTRUMENT

A well-structure questionnaire will use to collect the primary data from the
respondents. The respondents well have multiple choices to select their particular
answers.

Questionnaire Development

17
 Questionnaire is the most common instrument in collecting primary. In

order to gather primary data from viewers; the questionnaire consists of following

types of questions.

 Closed ended questions

 Multiple Choice questions

 Ranking question.

Closed ended Questions

Closed ended questions have no other options other than the selecting the

one that close matches the respondent’s opinion or attitude.

Dichotomous Questions

A dichotomous question refers to one, which offers the respondents a choice

between only two alternatives.

Multiple Questions

A multiple choice question refers to one, which provides several sets of

alternatives for the respondents’ choice.

STATISTICAL TOOLS USED FOR DATA ANALYSIS

The statistical tools used to analyses the primary data in this present study:

 Tabulation method

18
  Percentage analysis

 Charts

TABULATION

Tabulation is the systematic arrangement of data in columns and rows. Rows

are horizontal arrangements while columns are vertical arrangements. The purpose
of tabulation is to simplify the presentation and to facilitate comparisons.

PERCENTAGE ANALYSES

Percentage analyses refer to specific kind of ratio. This method is used in

making comparison between two or more series of data.

Percentage is calculated as follows:

=d/n*100 Where

d=the number of respondents

n=the base or the sample group

CHARTS

 Pi-chart

19
 Percentage method

Review of literature

Determinants of Customer Satisfaction

 Customer satisfaction is generally described as the full meeting of one's

expectations. Customer satisfaction is the feeling or attitude of a customer
towards a product or service after it has been used.
 A review of the existing literature indicates that there can be potentially
many antecedents of customer satisfaction, as the dimensions underlying
satisfaction judgments are global rather than specific (Taylor and Baker,
1994; Patterson and Johnson, 1993; Rust and Oliver, 1994). The customer
satisfaction literature has paid a great deal of attention to the confirmation
paradigm, which concerns the comparison of product or service performance
expectations and evaluations (Goode and Moutinho, 1995).
 The confirmation model treats satisfaction as a meeting of customer
expectations (East, 1997; Oliver 1989) and is generally related to habitual
usage of products (East, 1997). However, research on customer satisfaction
has moved towards the disconfirmation paradigm which views satisfaction
with products and brands as a result of two cognitive variables: prepurchase

20
 expectations and disconfirmation (Churchill and Surprenant, 1982; Peter and
Olson, 1996).
 According to Peter and Olson (1996), "prepurchase expectations are beliefs
about anticipated performance of the product; disconfirmation refers to the
differences between prepurchase expectations and post-purchase
perceptions" (p.509).
 In an earlier study, Churchill and Surprenant (1982) reported that
disconfirmation positively affected satisfaction. That is, when subjects
perceived the product performing better than expected, they were more
satisfied (Churchill and Surprenant, 1982).
 Further empirical research supports the notion that satisfaction is caused by
expectations and requires considerable cognitive effort on the part of
customers (Bearden and Teel, 1983; Moutinho and Goode, 1995; Cadotte et
al., 1987).

Customer Satisfaction and Service Quality

 In the service literature, strong emphasis is placed on the importance of

service quality perceptions and the relationship between customer
satisfaction and service quality (see for example Bitner and Hubbert, 1994;
Cronin and Taylor, 1992; Taylor and Baker 1994; Rust and Oliver, 1994).
 Service quality has been described as a form of attitude that results from the
comparison of expectations with performance (Cronin and Taylor, 1992;
Parasuraman et al., 1985).
 Gronroos (1982) argued that customers, while evaluating the quality of a
service, compare the service they expect with perceptions of the services
they actually receive.
21
 It has been argued that the quality of service is not a unidimensional
construct. Rather, service quality incorporates various dimensions that relate
to both core and augmented service offerings (Bitran and Lojo, 1993;
Gronroos, 1984; Lewis, 1993).

 Parasuraman et al. (1985; 1988) initially described five dimensions of

service quality: reliability, tangibles, responsiveness, assurance and empathy.
Parasuraman et al. (1991a) argued that reliability was mainly concerned with
the outcome of service whereas tangibles, responsiveness, assurance and
empathy were concerned with the service delivery process.
 The customers not only judge the accuracy and dependability (i.e. reliability)
of the delivered service but they also judge the other dimensions as the
service is being delivered (Parasuraman et al., 1991a).
 Customer satisfaction can thus be based not only on the judgement of
customers towards the reliability of the delivered service but also on
customers' experiences with the service delivery process.
 On the basis of their review of service quality literature, McDougall and
Levesque (1994), however, argued that there were two overriding
dimensions to service quality.
 The first one being the core or outcome aspects (contractual) of the service,
and the second being the relational or process aspects (customer-employee
relationship) of the service.
 It is generally accepted that customer satisfaction often depends on the
quality of product or service offering (Anderson and Sullivan, 1993;
Levesque and McDougall, 1996). For this reason, research on customer
satisfaction is often closely associated with the measurement of quality
(East, 1997).
22
 Thus, both service quality and customer satisfaction share a close
relationship, though they are normally conceptualise as unique (or separate)
constructs (Bitner and Hubbert, 1994; Cronin and Taylor, 1992; Patterson
and Johnson, 1993; Taylor and Baker, 1994).
 There is some empirical evidence suggesting that service quality is a causal
antecedent of customer satisfaction (see for example, Cronin and Taylor,
1992; Woodside et al., 1989). However, there is very little empirical research
demonstrating the importance of service quality dimensions in determining
customer satisfaction (Fisk et al., 1993; Levesque and McDougall, 1996).
 In a recent study, Levesque and McDougall 1996 found that the performance
of the service provider on core and relational dimensions of service was an
important driver for customer satisfaction in retail banking in the UK.
However, in a non-Western context, the link between core and relational
dimensions of service and customer satisfaction is yet to be established
empirically. The current paper aims to fill this gap in the literature.
 Moreover, the literature dealing with services outlines some major
characteristics of service that make them unique and different from physical
products (Bitran and Lojo, 1993; LeBlanc and Nguyen, 1988; Parasuraman
et. al., 1985; Zeithaml and Bitner, 1996). Services are often characterized by
their intangibility, inseparability, heterogeneity, and perishability.
 The implications of these characteristics are that it is often difficult for
customers to evaluate services at preconsumption, consumption and post
consumption stages of the consumer decision-making (Legg and Baker,
1996). Because of the intangible nature of services, it becomes difficult for
an organization to understand how its customers perceive and evaluate the
quality of its services (Parasuraman et. al., 1985; Zeithaml, 1981).

23
 Customers, however, make inferences about the service quality on the basis
of tangibles (the buildings, the physical layout etc.) that surround the service
environment. Support for this argument...

Industry
Profile

24
 Industry profile

Banks in India
In India the banks are being segregated in different groups. Each group has their
own benefits and limitations in operating in India. Each has their own dedicated
target market. Few of them only work in rural sector while others in both rural as
well as urban. Many even are only catering in cities. Some are of Indian origin and
some are foreign players.

The banks and its relation with the customers, their mode of operation, the names
of banks under different groups and other such useful informations are talked
about.

One more section has been taken note of is the upcoming foreign banks in India.
The RBI has shown certain interest to involve more of foreign banks than the
existing one recently. This step has paved a way for few more foreign banks to start
business in India.

25
The first bank in India, though conservative, was established in 1786. From 1786
till today, the journey of Indian Banking System can be segregated into three
distinct phases.

They are as mentioned below

 Early phase from 1786 to 1969 of Indian Banks

 Nationalisation of Indian Banks and up to 1991 prior to Indian banking
sector Reforms.
 New phase of Indian Banking System with the advent of Indian Financial &
Banking Sector Reforms after 1991.

Originated in the first decade of 18th century with The General Bank of India
coming into existence in 1786. This was followed by Bank of Hindustan. Both
these banks are now defunct. The oldest bank in existence in India is the State
Bank of India being established as "The Bank of Bengal" in Calcutta in June 1806.
A couple of decades later, foreign banks like Credit Lyonnais started their Calcutta
operations in the 1850s. At that point of time, Calcutta was the most active trading
port, mainly due to the trade of the British Empire, and due to which banking
activity took roots there and prospered.

The first fully Indian owned bank was the Allahabad Bank, which was established
in 1865. By the 1900s, the market expanded with the establishment of banks such
as Punjab National Bank, in 1895 in Lahore and Bank of India, in 1906, in
Mumbai - both of which were founded under private ownership. The Reserve Bank

26
of India formally took on the responsibility of regulating the Indian banking sector
from 1935. After India's independence in 1947, the Reserve Bank was nationalized
and given broader powers.

27
Company
Profile

28
 Company profile

History
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial
institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI
Bank was reduced to 46% through a public offering of shares in India in fiscal
1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000,
ICICI Bank's acquisition of Bank of Madura Limited in an all-stock amalgamation
in fiscal 2001, and secondary market sales by ICICI to institutional investors in
fiscal 2001 and fiscal 2002.

ICICI was formed in 1955 at the initiative of the World Bank, the Government of
India and representatives of Indian industry. The principal objective was to create a
development financial institution for providing medium-term and long-term project
financing to Indian businesses. In the 1990s, ICICI transformed its business from a
development financial institution offering only project finance to a diversified
financial services group offering a wide variety of products and services

In 1999, ICICI become the first Indian company and the first bank or financial

29
institution from non-Japan Asia to be listed on the NYSE. After consideration of
various corporate structuring alternatives in the context of the emerging
competitive scenario in the Indian banking industry, and the move towards
universal banking, the managements of ICICI and ICICI Bank formed the view that
the merger of ICICI with ICICI Bank would be the optimal strategic alternative for
both entities, and would create the optimal legal structure for the ICICI group's
universal banking strategy.

The merger would enhance value for ICICI shareholders through the merged
entity's access to low-cost deposits, greater opportunities for earning fee-based
income and the ability to participate in the payments system and provide
transaction-banking services. The merger would enhance value for ICICI Bank
shareholders through a large capital base and scale of operations, seamless access
to ICICI's strong corporate relationships built up over five decades, entry into new
business segments, higher market share in various business segments, particularly
fee-based services, and access to the vast talent pool of ICICI and its subsidiaries.

In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the
merger of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI
Personal Financial Services Limited and ICICI Capital Services Limited, with
ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank in
January 2002, by the High Court of Gujarat at Ahmedabad in March 2002, and by
the High Court of Judicature at Mumbai and the Reserve Bank of India in April
2002.

30
OVERVIEW OF THE COMPANY

ICICI Bank is India's second-largest bank with total assets of Rs. 3,997.95 billion
(US$ 100 billion) at March 31, 2008 and profit after tax of Rs. 41.58 billion for the
year ended March 31, 2008. ICICI Bank is second amongst all the companies listed
on the Indian stock exchanges in terms of free float market capitalization*.

The Bank has a network of about 1,308 branches and 3,950 ATMs in India and
presence in 18 countries. ICICI Bank offers a wide range of banking products and
financial services to corporate and retail customers through a variety of delivery
channels and through its specialized subsidiaries and affiliates in the areas of
investment banking, life and non-life insurance, venture capital and asset
management.

The Bank currently has subsidiaries in the United Kingdom, Russia and Canada,
branches in Unites States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and
Dubai International Finance Centre and representative offices in United Arab
Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our
UK subsidiary has established branches in Belgium and Germany.

ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the
National Stock Exchange of India Limited and its American Depositary Receipts
(ADRs) are listed on the New York Stock Exchange (NYSE).

31
 Awards & Recognitions

ICICI Bank

2008

ICICI Bank wins Finance Asia Country Awards for

Achievement 2008 for
• Best Trade Finance Bank
• Best Foreign Exchange Bank
• Best Private Bank

ICICI Bank wins the 'Excellence in Remittance

Business 2007' award by The Asian Banker

Ms. Madhabi Puri Buch, ED, ICICI Bank wins FICCI's

"Young Women Achievers" Award

Mr. K. V. Kamath, MD & CEO, ICICI Bank wins "The

32
Asian Banker Leadership Achievement Award" for the
Asia Pacific and Gulf Region 2007

EuroWeek award for “Most Improved Market Profile”

The award is designed to recognise the institution that
has been most successful in building its own niche in
Asia's competitive syndicated loan market

The Asset Triple A Transaction Banking Awards, 2008

• Best Trade Finance Bank in India
• Best Transaction Bank in India
• Best Cash Management Bank in India
• Best Domestic Custodian in India

Global Finance Award for:

• Best "Trade Finance Bank and Provider" in India

ICICI Bank wins the Gold Shield for " Excellence in

Financial Reporting" by Institute of Chartered
Accountant of India (ICAI) for the Year ended March
31, 2007

Mr. K. V. Kamath, MD & CEO, ICICI Bank awarded

the "Padma Bhushan"

33
 ICICI Bank competitors

The following are the list of Public Sector Banks in India

 Allahabad Bank

 Andhra Bank
 Bank of Baroda
 Bank of India
 Bank of Maharastra
 Canara Bank
 Central Bank of India
 Corporation Bank
 Dena Bank
 Indian Bank
 Indian Overseas Bank
 Oriental Bank of Commerce
 Punjab & Sind Bank
 Punjab National Bank
 Syndicate Bank
 UCO Bank
 Union Bank of India
 United Bank of India
 Vijaya Bank

34
List of State Bank of India and its subsidiary, a Public Sector Banks
 State Bank of India

o State Bank of Bikaner & Jaipur

o State Bank of Hyderabad
o State Bank of Indore
o State Bank of Mysore
o State Bank of Saurastra
o State Bank of Travancore

 Private Sector Banks In India

Private banking in India was practiced since the begining of banking system in
India. The first private bank in India to be set up in Private Sector Banks in India
was IndusInd Bank. It is one of the fastest growing Bank Private Sector Banks in
India. IDBI ranks the tength largest development bank in the world as Private
Banks in India and has promoted a world class institutions in India.

The first Private Bank in India to receive an in principle approval from the Reserve
Bank of India was Housing Development Finance Corporation Limited, to set up a
bank in the private sector banks in India as part of the RBI's liberalisation of the
Indian Banking Industry. It was incorporated in August 1994 as HDFC Bank
Limited with registered office in Mumbai and commenced operations as Scheduled
Commercial Bank in January 1995.

35
ING Vysya, yet another Private Bank of India was incorporated in the year 1930.
Bangalore has a pride of place for having the first branch inception in the year
1934. With successive years of patronage and constantly setting new standards in
banking, ING Vysya Bank has many credits to its account.

List of Private Banks in India

 Bank of Punjab
 Bank of Rajasthan
 Catholic Syrian Bank
 Centurion Bank
 City Union Bank
 Dhanalakshmi Bank
 Development Credit Bank
 Federal Bank
 HDFC Bank
 IDBI Bank
 IndusInd Bank
 ING Vysya Bank
 Jammu & Kashmir Bank
 Karnataka Bank
 Karur Vysya Bank
 Laxmi Vilas Bank
 South Indian Bank
 United Western Bank
 UTI Bank

36
 ICICI Bank services

Personal banking
 Deposits
ICICI Bank offers wide variety of Deposit Products to suit customer
requirements. Convenience of networked branches/ ATMs and facility of E-
channels like Internet and Mobile Banking, customer can select any of the
deposit products.

Savings Account

A Savings Account for everyone with a host of convenient features

and banking channels to transact through. So customer can bank at
their convenience, without the stress of waiting in queues. We service
savings accounts with 8 to 8 banking and ‘out of branch’ banking.

Life Plus Senior Citizens Savings Account

We understand that a Savings Account needs to do more after you reach the
age of seniority; we understand your concerns for safety and security. We
have an ideal Savings Bank Service for those who are 60 years and above.
The Senior Citizen Services from ICICI Bank has several advantages that
are tailored to bring more convenience and enjoyment in your life.

37
 Young Stars Savings Account

It's really important to help children learn the value of finances and
money management at an early age. Banking is a serious business, but
we make banking a pleasure and at the same time fun. Children learn
how to manage their personal finances.

Fixed Deposits

Safety, Flexibility, Liquidity and Returns. A combination of unbeatable

features of the Fixed Deposit from ICICI Bank.

Recurring Deposits
When expenses are high, you may not have adequate funds to make big
investments. An ICICI Bank Recurring Deposit lets you invest small
amounts of money every month that ends up with a large saving on
maturity. So you enjoy twin advantages- affordability and higher
earnings.

 Loans

ICICI Bank offers wide variety of Loans Products to suit customer

requirements. Coupled with convenience of networked branches/ ATMs and
facility of E-channels like Internet and Mobile Banking, ICICI Bank brings
banking at customer doorstep.

38
 Home Loans

The No. 1 Home Loans Provider in the country, ICICI Bank Home
Loans offers some unbeatable benefits to its customers - Doorstep
Service, Simplified Documentation and Guidance throughout the
Process.

Personal Loans
ICICI Bank Personal Loans are easy to get and absolutely hassle free.
With minimum documentation you can now secure a loan for an amount
up to Rs. 15 lakhs.

Car Loans
The No. 1 financier for car loans in the country. Network of more than
2500 channel partners in over 1000 locations. Tie-ups with all leading
automobile manufacturers to ensure the best deals. Flexible schemes &
quick processing.

Commercial Vehicle Loans

Range of services on existing loans & extended products like funding of
new vehicles, refinance on used vehicles, balance transfer on high cost
loans, top up on existing loans, Xtend product, working capital loans &
other banking products.

39
 Farm Equipment Loans
Preferred financier for almost all leading tractor manufacturers in the
country. Flexible repayment options in tandem with the farmer's seasonal
liquidity. Monthly, Quarterly and Half-yearly repayment patterns to
choose from. Comfortable repayment tenures from 1 year to 9 years.

Business Installment Loans

Business Installment Loan (BIL) helps the entities take a giant strides by
fulfilling their business requirements, be it working capital requirement,
business expansion or to grab that once in a lifetime business opportunity

 Cards

ICICI Bank offers a variety of cards to suit different transactional needs of

customers. Our range includes Credit Cards, Debit Cards and Prepaid cards.
These cards offer you convenience for your financial transactions like cash
withdrawal, shopping and travel. These cards are widely accepted both in
India and abroad.

Credit Cards
Credit Cards give you a smart way to shop, and offer you flexibility and
convenience in managing your finances. ICICI Bank credit cards
provide a host of exciting offers and benefits such as low interest rates,
rewards programs, and a high credit and cash limit.

40
 Travel Cards
Presenting ICICI Bank Travel Card. The Hassle Free way to Travel the
world. Traveling with US Dollar, Euro, Pound Sterling or Swiss Francs;
Looking for security and convenience; take ICICI Bank Travel Card.
Issued in duplicate. Offers the Pin based security. Has the convenience of
usage of Credit or Debit card.

Debit Card
The ICICI Bank Debit Card is a revolutionary form of cash that allows
customers to access their bank account around the clock, around the
world. The ICICI Bank Debit Card can be used for shopping at more than
3.5 Lakh merchants in India and 24 million merchants worldwide.

Commercial Cards
ICICI Bank Commercial Cards have been designed as payment solutions
for large & mid-sized organizations. A widely accepted concept
internationally, Commercial Cards help to better streamline payment
processes & thus increase efficiencies.

Investment & insurance

At ICICI Bank, we care about all your needs. Along with Deposit products and
Loan offerings, ICICI Bank assists you to manage your finances by providing
various investment options ranging from ICICI Bank Tax Saving Bonds to Equity
Investments through Initial Public Offers and Investment in Pure Gold.

41
ICICI Bank facilitates following investment products:

 ICICI Bank Tax Saving Bonds

 Government of India Bonds
 Investment in Mutual Funds
 Initial Public Offers by Corporates
 Investment in "Pure Gold"
 Foreign Exchange Services
 Senior Citizens Savings Scheme, 2004

You can invest in above products through any of our branches. For select products
ICICI Bank also provides the ease of investing through electronic channels like
ATMs and Internet (ICICIdirect.com)

Demat Services
ICICI Bank Demat Services boasts of an ever-growing customer base of over 11.5 lacs
account holders. In our continuous endeavor to offer best of the class services to our customers
we offer the following features:

e-Instructions:

You can transfer securities 24 hours a day, 7 days a week through Internet &
Interactive Voice Response (IVR) at a lower cost. Now with "Speak to transfer",
you can also transfer or pledge instructions through our customer care officer.

Consolidation Demat Account:

Dematerialise your physical shares in various holding patterns and consolidate all
such scattered holdings into your primary demat account at reduced cost.

42
Digitally Signed Statement:

Receive your account statement and bill by email.

Corporate Benefit Tracking:

Track your dividend, interest, bonus through your account statement.

Mobile Request:

Access your demat account by sending SMS to enquire about Holdings,

Transactions, Bill & ISIN details.

Mobile Alerts:

Receive SMS alerts for all debits/credits as well as for any request which cannot be
processed.
Dedicated customer care executives specially trained at our call centre, to handle
all your queries.
Countrywide network of over 235 branches, you are never far from an ICICI
Bank Demat Services outlet.

Online tax

Tax payments need not be taxing In today's intensely busy business world, every
minute is precious. In this scenario, tax paperwork can be a tedious process.

43
ICICI Bank with its technology driven banking gives you a better option - Online
Tax.
• Cut down on your paper work and simplify the process.
• Get an MIS link that shows you a record of all past payments made along with
the payment status, as well as challan details.
• Also receive an immediate acknowledgment of your challan
Online.
• You can easily view, download and print the acknowledged copy
of the challan using the MIS option.

Taxes you can pay through Online Tax:

• Corporation Tax
• Service Tax
• Tax Deducted at Source
• Income Tax
• Wealth Tax
• Central Excise

Mobile banking
ICICI Bank launches iMobile

iMobile is a breakthrough innovation in banking where practically all internet

banking transactions can now be simply done on mobiles phones. Customers can
now transfer funds to ICICI and Non ICICI Bank accounts just with the click of
their mobile.

44
The application covers
 Savings bank,
 Demat,
 Credit Card and
 Loan accounts.

Customers can also pay their utility bills and insurance premium through this

facility. ICICI Bank offers this facility free of charge to customers. Customers
having GPRS facility on their mobile phones can directly download this

application by simply sending an sms iMobile to 5676766. For mobile phones

without GPRS facility, the application can be downloaded onto your desktop and
transferred to your mobile phone using bluetooth or datacable.

Internet banking

Banking Features

ICICIBank.com offers a variety of features to make banking a pleasure.

Balance Enquiry and Statement

Check out your last 10 transactions in your bank account with real-time balance.

Transaction History
Check out past transactions from the date of account opening.

Transfer Funds Online

Transfer funds to any ICICI Bank account in India as well as to non-ICICI-Bank
accounts in over 100 cities across India.

45
Card-2-Card Fund Transfer*
Send money to over 27 million Visa Debit Cardholders or Credit Cardholders
across 150 cities in India.

Use your Debit Card Online

Your Internet Banking User ID and password is required to use your VISA Debit
Card online to shop, buy tickets, pay bills and more.....

Pre-paid Mobile Recharge

Recharge your pre-paid mobile online anywhere, anytime in just a few minutes.

Pay your Utility Bills

Pay bills to providers of utility services like electricity, telephone and post-paid
mobiles. You can also pay your insurance premiums and ICICI Bank Credit Card
dues.

Send a Smart Money Order*

Send a money order anytime and get it door-delivered to any destination in India.

Open Fixed Deposits and Recurring Deposits

Apply online to open Fixed Deposits and Recurring Deposits.

Order a Demand Draft / Pay Order*

Order a Demand Draft to be issued from your ICICI Bank account. The Demand
Draft / Pay Order will be sent to your registered address.

Subscribe for Mobile Banking

Subscribe to Mobile Banking Alerts and Requests for banking on the move.

46
Request a Cheque Book
The cheque book is delivered to your communication address upon request.

Stop Payment Request

Issue instructions to stop payment of a particular cheque.

Request a Debit Card

Apply online for an ATM/Debit Card

Monthly Bank Account Statement by E-mail

Subscribe to free monthly Bank Account statements to be delivered to your e-mail
address.

Re-issue/Upgrade of ATM/Debit Card

Get your lost ATM/Debit Card re-issued or upgrade your current ATM/Debit Card.

Link Bank Accounts to ATM/Debit Card

Link your multiple ICICI Bank accounts to a single ATM/Debit Card.

Renewal / Premature Closure of FD/RD

Renew your current Fixed Deposit account or request its premature closure.

De-block/Activate ATM/Debit Card

Activate your hot-listed (blocked) ATM/Debit Card.

Request a Duplicate Physical Bank Statement

Get a physical copy of your Bank Statement delivered at your registered address.

Secure Mailbox
Write to Account Manager to resolve any queries regarding your ICICI Bank
relationships.

47
 Analysis
&
Interpreta
tion
48
 Analysis of data

1. Are you aware of ICICI Bank

TABLE NO: 1

Table showing the awareness about ICICI Bank

SI AWARENESS NO OF PERSENTAGE
NO ABOUT RESPONDENT %
ICICI BANK

1 50 100%
YES

2 NO 0 0%

49
Inference
From the above table, it indicates that

 100 % of the customers are familiar with the ICICI Bank

2. Are you aware that ICICI carries out the following business
TABLE NO 2:

Table showing the awareness about ICICI BRAND

SECTORVISE ANALYSIS

Table No 2a:

Table showing the awareness about ICICI Securities

SI ICICI Securities NO OF PERSENTAGE

NO RESPONDENT %

1 32 64%
YES

2 NO 18 36%

Inference

50
From the above table, it indicates that

 64% of people are aware of ICICI securities

 36% of people are unaware of ICICI securities

Table No 2b:

Table showing the awareness about ICICI Securities primary

dealership

SI ICICI securities NO OF PERSENTAGE %

NO primary RESPONDENT
dealership
1 16 32%
YES

2 NO 34 68%

Inference

From the above table, it indicates that

 32% of people are aware of ICICI securities primary dealership

 68% of people are unaware of ICICI securities primary dealership

51
Table No 2c:
Table showing the awareness about ICICI Ventures

SI ICICI ventures NO OF PERSENTAGE

NO RESPONDENT %

1 24 48%
YES

2 NO 26 52%

Inference

From the above table, it indicates that

 48% of people are aware of ICICI Ventures

 52% of people are unaware of ICICI Ventures

52
Table No 2d:

Table showing the awareness about ICICI Lombard general insurance

SI ICICI Lombard NO OF PERSENTAGE

NO general insurance RESPONDENT %

1 38 76%
YES

2 NO 12 24%

Inference

From the above table, it indicates that

 76% of people are aware of ICICI Lombard general insurance

 24% of people are unaware of ICICI Lombard general insurance

53
Table No 2e:

Table showing the awareness about ICICI prudential life insurance

SI NO ICICI prudential NO OF PERSENTAGE

life insurance RESPONDENT %

1 46 92%
YES

2 NO 4 8%

Inference

From the above table, it indicates that

 92% of people are aware of ICICI prudential life insurance

 8% of people are unaware of ICICI prudential life insurance

54
Table No 2f:

Table showing the awareness about ICICI prudential AMC & Trust

SI ICICI prudential NO OF PERSENTAGE

NO AMC & Trust RESPONDENT %

1 18 36%
YES

2 NO 32 64%

Inference

From the above table, it indicates that

 36% of people are aware of ICICI prudential AMC & Trust

 64% of people are unaware of ICICI prudential AMC & Trust

55
The pie chart showing ICICI Business known by the customer

The pie chart showing ICICI Business Unknown by the customer

56
 3. Do you have Account in ICICI Bank
TABLE NO 3:

Table showing account and non account holder of ICICI Bank

SI Do you have NO OF PERSENTAGE

NO account in ICIC RESPONDENT %
Bank
1 36 72%
YES

14 28%
2 NO

Inference

From the above table, it indicates that

57
  72% of people having account in ICICI bank
 28% of people don’t have account in ICICI bank

Diagram showing account and non account holder of ICICI Bank

4. What made you to open an Account in ICICI Bank (on the basis priorities)
TABLE NO 4:

Table showing the opinion about influences of customer to have an

account with ICICI Bank

SI INFLUENCES OF NO OF PERSENTAGE
NO CUSTOMER RESPONDENT %

1 Magazine - -

2 Television 8%
4

3 Friends 10 20%

4 Relatives 12 24%

58
 5 Corporates 8 16%

Inference

From the above table, it indicates that

 8% of people are influenced by Television to open an account in ICICI bank

 20% of people are influenced by Friends to open an account in ICICI bank

 24% of people are influenced by Relatives to open an account in ICICI bank

 16% of people are influenced by corporate to open an account in ICICI bank

Diagram showing the opinion about influences of customer to have an

account with ICICI Bank

59
 5. Are you aware that ICICI Bank offers the following services
Table: 5a
Table showing ICICI bank services through personal banking

SI Personal NO OF NO OF Ratio
NO Banking RESPONDE RESPONDE
NT YES NT NO

1
Deposits,
50 - 50:0
Loans, Cards

2 Investments/
Insurance, 40 10 4:1
Demat services

Inference

From the above table, it indicates that

60
  100% of people are aware of services like Deposits, Loans, Cards of ICICI
bank
 80% of people are aware of services like Investments, Insurance, Demat
services of ICICI bank

 20% of people are unaware of services like Investments, Insurance, Demat

services of ICICI bank

Table: 5b
Table showing ICICI bank services through NRI banking
61
 SI NRI Banking NO OF NO OF Ratio
NO RESPONDENT RESPONDEN
YES T NO

1
Money Transfer,
42 8 21:4
Bank accounts

2 Investments,
Insurance, Loans 34 16 17:8

Inference

From the above table, it indicates that

 84% of people are aware of services like Money transfer and bank account
for NRI customers of ICICI bank
 16% of people are unaware of services like Money transfer and bank
account for NRI customers of ICICI bank

 68% of people are aware of services like Investments, Insurance and Loans
for NRI customers of ICICI bank

 32% of people are unaware of services like Investments, Insurance and

Loans for NRI customers of ICICI bank

Diagram showing awareness about ICICI bank services through NRI

banking

62
Table: 3c
Table showing ICICI bank services through Business banking

SI Business NO OF NO OF Ratio
NO Banking RESPONDENT RESPONDENT
YES NO

1
Corporate Net
32 18 16:9
Banking,
Custodial
Services

2 SME Services,
Online Taxes, 22 28 11:14
Trade Services

Inference

63
From the above table, it indicates that

 64% of people are aware of services like Corporate net banking and
Custodial services of ICICI bank
 36% of people are unaware of services like Corporate net banking and
Custodial services of ICICI bank

 44% of people are aware of services like SME services, Online taxes and
Trade services of ICICI bank

 56% of people are unaware of services like SME services, Online taxes and
Trade services of ICICI bank

6. What is your opinion about the Banking services of ICICI Bank in terms of
quality of services

64
Table: 6

Table showing the satisfaction level from various banking services

Rating Personal Business Internet & ATM
&NRI Banking Banking Mobile services
Banking
Excellent 6 6 14 12
Good 26 18 20 32
Fair 16 20 6 6
Bad 2 2 8 -

Diagram shows satisfaction level from personal & NRI banking

Diagram shows satisfaction level from business banking

65
Diagram shows satisfaction level from Internet & mobile banking

66
 7. What is your opinion about minimum balance to be maintained in bank
account

SI MINIMUM NO OF PERSENTAGE
NO BALANCE TO BE RESPONDENT %
MAINTAINED

1 Very High 18 36%

2 High 40%
20

3 Moderate 8 16%

4 Low 4 8%

Inference

From the above table, it indicates that

 36% of people saying minimum balance to be maintained in bank account is

very high

67
  40% of people saying minimum balance to be maintained in bank account is
high

 16% of people saying minimum balance to be maintained in bank account is

moderate

 8% of people saying minimum balance to be maintained in bank account is

low

8. If it is ICICI Bank which of the following features insist you to open Bank
account in ICICI Bank

SI INFLUENCES TO NO OF PERSENTAGE
NO OPEN ACCOUNT RESPONDENT %

1 Services 15 60%

2 Interest 2 8%

3 Minimum 4 16%
Balance

Inference

68
From the above table, it indicates that

 60% of people saying ICICI bank services influences them to have account
in ICICI bank
 8% of people saying ICICI bank interest rate influences them to have
account in ICICI bank

 16% of people saying minimum balance influences them to have account in

ICICI bank

9. What is your perception on the Brand image of ICICI Bank

69
 SI SATISFACTION NO OF PERSENTAGE
NO LEVEL RESPONDENT %

1 High Satisfied 2 4%

2 Satisfied 40 80%

3 Dissatisfied 4 8%

4 Highly 2 4%
Dissatisfied

Inference

From the above table, it indicates that

 4% of people are highly satisfied with the ICICI brand image

 80% of people are satisfied with the ICICI brand image

 8% of people are dissatisfied with the ICICI brand image

 4% of people are highly dissatisfied with the ICICI brand image

Diagram shows brand image among customers

70
10. How do you rate your quality of services extended to customer

SI RECOMENDING TO NO OF PERSENT
NO OTHERS RESPONDENT AGE %

1 Excellent 4 8%

2 Good 44%
22

3 Fair 20 40%

4 Very Bad 4
8%


Chart shows % of customers recommend to other people to
have account in ICICI bank
71
11. In the basis of Rating – scale how will you rate the following
(1 to 5, 1 is very poor and 5 is excellent)

Rating Time spent & Emergency withdrawal,

Courtesy response ATM services, Working
from the bank time
Excellent 2 10
Very Good 12 20
Good 8 12
Bad 18 8
Very Bad 10 -

72
12. Would you like to add any of the features to the services and make any
changes in the interest rate

SI SUGGESTION NO OF PERSENTAGE
NO TO ADD MORE RESPONDENT %
FEATURES IN
THE SERVICES

1 YES 36 72%

2 NO 12 24%

73
 Diagram showing suggestion from customers to add more features
in the service

Inference

From the above table, it indicates that

 72% of people suggest need to changes in current services like ATM

services and interest rates
 24% of people suggest no need to changes in current services like ATM
services and interest rates

13. Would you like to suggest establish few more ATM services in the city
74
SI SUGGESTIONS NO OF PERSENTAGE
NO FOR MORE RESPONDENT %
ATM CENTRES
1 44 88%
YES

6 12%
2 NO

75
 Data Analysis and Interpretation
SI VARIABLES MAX. MAX.
NO POSITIVE % NEGATIVE %
RESPONDENT RESPONDENT

Q1 Awareness about 100 0

ICICI bank

Q2 Awareness about 92 68
ICICI brand

Q3 Account operating 72 28

Q4 Influences from 24 92
media to operate a/c

Q5 Awareness of 100 28
product

Q6 Happy with service 52 17

quality

Q7 Suggestion on 16 40
minimum balance

Q8 Product features 60 92

Q9 Brand image 80 8
perception

Q10 Rating quality 44 8

Q11 Time of service 40 36

delivery

Q12 Suggestion for 72 24

improvement

Q13 Suggestion to 88 12
expand capacity

76
77
Ranking the Response

Question No + ve Ranking = R1 -Ve Ranking = R2

Q1 1.5 -
Q2 3.5 9
Q3 7.5 16.5
Q4 18.5 1.5
Q5 1.5 16.5
Q6 11 20
Q7 21 13.5
Q8 10 3.5
Q9 6 23.5
Q10 12 23.5
Q11 13.5 15
Q12 7.5 18.5
Q13 5 22

Inference
From the above table we can find customer gave their more negative
response on Q4 (Influences from media to operate a/c), Q8 (product features), Q2
(Brand awareness) and Q11 (Quality of service). So the ICICI bank has to focus
more attention on the following areas creating awareness about their business and
its service features through media it helps the bank to attract and retain more
customers.

Total average of + ve and total average of – ve response.

Let ‘p’ be the total average of + ve responses [Yes]

Let ‘q’ be the total average of – ve responses [No]

78
Where as p = 62.62% 0.62

And q = 34.85% 0.34

p : q = 0.62 : 0.34

Inference

The Total average of + ve and total average of – ve response shows the

satisfaction derived from ICICI bank services it lies between [0.62; 0.34]. This
proves that most of the customers are satisfied with ICICI bank services.

The following are the reasons for unsatisfied customers

 Most of the people are not aware of ICICI bank services
 The minimum balance to be maintained in the a/c is high
 The interest rate given for savings a/c is low
 Customers have to spend more time in the bank to carry out any transaction

79
 SWOT
Analysis

SWOT Analysis

80
SWOT analysis is done for a company, to find out its overall Strengths,
Weaknesses, Threats and opportunities leading to gauging the competitive potential
of the company. The SWOT Analysis enables a company to recognize its market
standing and adopt strategies accordingly. Here SWOT analysis of ICICI bank is
made to understand the positioning of the bank better:

STRENGTHS

1. BRAND NAME: ICICI Bank has earned a reputation in the market for
extending quality services to the market vis-à-vis its competitors. It has earned a
strong Brand name in banking in a very short span of time.

2. MARKET SHARE: ICICI Bank has the largest market share of 34% in the IT &
ITES industry in Hyderabad according to our survey.

3. HUGE NETWORK: ICICI Bank has the highest number of linked branches in
the country. The bank operates through a network of 450 BRANCHES AND over
1800 ATMs across India, thus enabling them to serve customer in better way.

4. DIVERSIFIED PORTFOLIO: ICICI Bank has all the products under its belt,
which help it to extend the relationship with existing customer. ICICI Bank has
umbrella of products to offer their customers, if once customer has relationship
with the bank.

Some Products, which ICICI Bank is offering are:

 Retail Banking
 Business Banking

81
  Merchant Establishment Services (EDC Machine)
 Personal loans & Car loans
 Demat Services with E-Broking
 Mutual Fund (ICICI Bank is the Distributor of all Mutual Fund)
 Insurance
 Loans

5. SALARY ACCOUNT: One very interesting thing that we have observed in our
survey is that ICICI is having an edge over other banks in case of Salary Account.
Most of the companies are having their Salary Account with ICICI even if their
Current Account is with any other Bank. This is mainly because of the huge
network of ATMs and branches of ICICI.

6. WORKING HOURS: ICICI is the only bank which is having its working hours
from 8 to 8 which is one of the major strength of ICICI Bank with respect to IT &
ITES Industry. As most of the IT & ITES companies are global players and their
Parent company is in US, so they have to work according to their office time. Thus
some have their Office time in the morning and some have it in the evening so if
the working hour of the bank is 8 to 8 it is very convenient for them.

7. TREASURY DEPARTMENT: ICICI is the only bank which is having its

treasury department especially for Hyderabad Customers. So customers can get the
best rates for foreign exchange.

8. AGGRESSIVE MARKETING: ICICI Bank is known for its aggressive

marketing of its products. Recent Endorsement of its product by AMITABH
BAHCHAN proves the same. This gives ICICI an edge over other banks.

82
9. TECHNOLOGY: From its inception, ICICI Bank has adopted a policy of
selecting internationally proven and specialized Packaged Systems for its
technology. ICICI bank’s technology platform has been acknowledged globally as
one of the best in terms of robustness, flexibility and cost efficiency. ICICI Bank is
in a position to leverage this platform to further build cost and service advantage.

WEAKNESS

1. TRANSACTION COST: ICICI Bank charges high cost for its transactions.
Through our data analysis we have find out that most of the small companies
prefer nationalized banks only because of this cost factor. Also the group has found
out that there are companies which are going for multi bank system i.e. they are
using only those facilities of ICICI Bank which are provided at cheaper rates (read
Salary Account) and for other services they are going to nationalize banks and
MNCs (read Forex).

2. FOCUS ONLY ON HIGH END CUSTOMERS: The bank targets only the top
bracket of clients and does not cater to the needs of small customers. Due to this
reason the bank may sometimes loose good clients.

3. DEFENSIVE APPROACH IN LENDING: ICICI Bank has a defensive

approach in lending. Mainly to IT & ITES companies Bank do not provide loan as
these companies are not having collaterals so bank hesitate in giving loans to them.
Because of this policy companies prefer nationalized banks and ICICI Bank in turn
sometimes loose potential customers.

83
4. LITTLE PRESENCE OUTSIDE INDIA: ICICI Bank is having little presence
Outside India, because of which companies are preferring MNC Bank, mainly
Citibank. So if ICICI Bank tries to emerge outside India then it has a huge potential
of customers.

5. POOR CUSTOMER CARE/SERVICE: With its aggressive marketing ICICI

Bank is rapidly increasing its customer base. They are not however, increasing the
number of employees accordingly. This is leading to deterioration of the standard
of customer service.

OPPORTUNITIES

1. NEW IT & ITES COMPANIES: IT & ITES sector is on a boom in the Indian
market context, with new companies mushrooming in the market; it opens the door
for ICICI bank to capture the huge untapped market.

2. Dissatisfied Customers of Other Banks: The groups from its survey and analysis
of IT companies have found out that there are many companies which are not
satisfied with its current bank, so ICICI with its superior service quality and long
working hours can capture those customers.

3. Remittances: From the analysis group has also found out that ICICI bank has
very little presence as far as the EEFC account is concerned.
Companies prefer to bank with MNCs (which have greater presence in the foreign
countries) and nationalized banks (which according to the companies provide
lower transaction rates) to get their inward remittances in spite of ICICI being
84
providing one of the most competitive rates. So the bank can promote its EEFC
account better and get the key to the door of huge potential market.

4. Business advising for smaller Players: The analysis has also indicated that the
concept of business advising though very popular with the higher end players is
virtually non existent in the lower end of the market. ICICI should take this
opportunity to provide business advising to the smaller companies at competitive
rates and try to take the first mover advantage.

THREATS

1) Advent of MNC banks: Large numbers of MNC banks are mushrooming in the
Indian market due to the friendly policies adopted by the government. This can
increase the level of competition and prove a potential threat for the market share
of ICICI bank.

2) Dissatisfied Customers: The analysis indicated that though most of the

companies are satisfied with the products offered by ICICI bank but the poor
customer support/ service is creating a lot of dissatisfaction among the customers,
this can prove to be a serious problem as far as the market reputation of the bank is
concerned and cane be a major threat in future business acquisition.

3) Ever improving nationalized banks: With PSU banks like SBI going all out to
compete with the private banks and government giving them a free hand to do so,
it can prove to be serious threat for banks like ICICI.

85
Findings

Findings

86
 All the respondents are aware of ICICI bank

 Most of the respondents are not aware of ICICI other business.

 Majority of respondents are having a/c in ICICI bank.

 Majority of respondents are not influenced by media

 Majority of respondent are aware of ICICI banking services

 Majority of respondents are not aware other then personnel banking

 Majority of respondents says minimum balance is high

 ICICI service insist customers to open a/c in ICICI bank

 Most of the customers are satisfied with ICICI brand

 Majority of respondents are HIGHLY SATISFIED with the brand image of

ICICI bank.

 Majority of respondents are suggest to change the interest rate

 Majority of respondents are EXCELLENT with quality of service.

 Most of the customers are suggest to establish more ATM centre’s in the

city

87
Suggestio
ns

88
Causes identified for customer Suggestions for improvement
dissatisfaction

89
 I. ICICI offer services in through
different segment this not aware
among people. So it has to
I. Most of the people are not aware advertise its banking services
of ICICI bank services other than through different channel like
personal banking News paper, Business Magazines,
Television and through satisfying
existing customers.

II. In ICICI bank the minimum

II. The minimum balance to be
maintained in the a/c is high
balance to be maintained in the
savings account is high for
middle and low income group
people so if the bank reduce the
minimum balance it helps to
attract and capture more
customers. On the other side it
allows the salary people to
maintain zero balance. So it’s
popular among corporate people
and business people.

III. Most of the customer having

account for the purpose of
drawing their salary, they are not
kept their money for longer
90
 period because the ICICI offers
low interest rate for savings
compare to other competitors. So
III. The interest rate given for if it increases its interest for
savings a/c is low customer savings it will have
more investment.

IV. ICICI bank mainly focuses on

business & salaried people. We
can see in any ICICI bank or
ICICI ATM centre many crowd
are waiting for avail banking
services it creates dissatisfaction
IV. Customer have to spend more among customers. So customer
time in the bank to carry out any suggests establishing more ATM
transaction centre bank branch in the city. It
helps to satisfy existing customer
and to attract new customer also.

91
Conclusion
s

92
 Conclusion

From this study I concluded that customers and bank employees played an
important role in improving service quality. Even though the bank account is
necessary for every individual and family to save their income but they are not
willing to have account with lower interest rate for their deposits. Many banks
offer various services and giving more interest for customer deposits. So ICICI
bank has to offer various banking services and giving high interest rate for
customer deposits. Customer relationship Management is a potent tool, which
helps to tract down the changing customer’s profiles, builds on this information to
get the necessary quality services and add value to the individual customer.

Today’s customers are global and high degree of need for cognition, recognition,
approvals and respect. They prefer marketers who can give quality services.

This study analysis recommends the following strategy to achieve

customer satisfaction, to attract more customers and to retain existing
customers.

1. Marketing communication system

This strategy will help the bank to advertise its services and
features to customers through advertising in the Television, News
paper, Business magazine and etc.

93
 2. Expanding the existing ATM capacity
3. Restructuring the transaction requirements, facilitating the
customer for minimum bank balance and interest rate
4. Training and development on products and operations
5. Improvement of existing complaints handling system and has to be
made effective

The following diagram will help the bank to know what customer wants
and they can provide service in better ways

94
Bibli0grap
hy

95
 Bibliography

To obtain more information regarding the present study and to

substantiate it with theoretical proof, the following reference made:-

a) www.icicibank.com

b) www.businessworld.in

c) www.wikipedia.org

d) www.google.com

e) Professional Banker (ICFAI Journal)

f) Consumer Behavior (ICFAI Journal)

g) Banking services operations (ICFAI publication)

96
h) Business research methods (ICFAI publication)

Annexure

97
 “An Analytical study on the consumer behavior and customer
satisfaction with reference to
ICICI BANK SERVICES”

Questionnaire

 Name of the respondent :

 Age of the respondent :
 Occupational Status :
 Personal Income
(In Rs/month) :

1. Are you aware of ICICI Bank

a) Yes b) No

98
2. Are you aware that ICICI carries out the following business
I. ICICI securities a) Yes b) No
II. ICICI securities primary dealership a) Yes b) No
III. ICICI ventures a) Yes b) No
IV. ICICI Lombard general insurance a) Yes b) No
V. ICICI prudential life insurance a) Yes b) No
VI. ICICI prudential AMC & Trust a) Yes b) No

3. Do you have Account in ICICI Bank

a) Yes b) No

4. What made you to open an Account in ICICI Bank

a) Magazine b) Television
c) Friends d) Relatives

5. Are you aware that ICICI Bank offers the following services

Table-1
Personal Banking Yes No
 Deposits, Loans, Cards
 Investments/ Insurance, Demat services

Table-2
NRI Banking Yes No
 Money Transfer, Bank accounts
 Investments, Insurance, Loans

99
Table-3
Business Banking Yes No
 Corporate Net Banking, Custodial Services
 SME Services, Online Taxes, Trade Services

6. What is your opinion about the Banking services of ICICI Bank in terms
of quality of services

Services Excellent Good Fair Bad

Personal & NRI Banking
Business Banking
Internet & Mobile Banking
ATM services

7. What is your opinion about minimum balance to be maintained in bank

account
a) Very High b) High
c) Moderate d) Low

8. If it is ICICI Bank which of the following features insist you to open

Bank account in ICICI Bank
a) Services b) Interest rate c) Minimum balance

9. What is your perception on the Brand image of ICICI Bank

a) Highly satisfied b) Satisfied

c) Dissatisfied d) Highly dissatisfied

100
10. Would you like to add any of the features to the services and make any
changes in the interest rate
a) Yes b) No

11. How do you rate your quality of services extended to customer

a) Excellent b) Good
c) Fair d) Very Bad

12. In the basis of Rating – scale how will you rate the following
(1 to 5, 1 is very poor and 5 is excellent)

Services Rating
Time spent & Courtesy response from the bank
Emergency withdrawal, ATM services, Working time

13. Would you like to suggest establish few more ATM services in the city
a) Yes b) No

101
102