Summer Internship Report Development Credit Bank Present and Future Report submitted in partial fulfillment of degree of Bachelors of Business Administration (M&S) Submitted to: Mrs. Apeksha Huda Faculty Guide Submitted By: Raghav Mehra BBA(M&S) 2008-20011 Roll No. A3914708014 Amity School of Business Amity University Acknowledgement I, Raghav Mehra, owe enormous intellectual debt towards towards my dissertation guide Mrs. Apeksha Huda, Faculty, Amity School of Business, Amity University who has augmented my knowledge in the field of marketing and has given me invaluable insight into the subject.
I am obliged to him for being extremely patient and helpful towards me and giving me sufficient time for discussion and guidance at all stages of my work. My increased spectrum of knowledge in this field is the result of his continuous supervision in directing me to absorb relevant and high quality information. I would also like to thank our respected Director Mam, Mrs. Alka Munjal for giving me such an opportunity and platform to accomplish my dissertation report successfully. I would like to thank all those people who helped me in the successful ompletion of my project by giving their precious time in filling my questionnaires without which it would not have been possible to complete my project. Raghav Mehra Contents Banking System in India Executive Summary Introduction About the Project Objective Research Methodology Literature Review 1. Public relation 2. Understanding PR 3. Advertising 4. Advertising- types and how to use it in the 5. present Business Scenario 6. The Objective of an Advertiser’s Right Selection 7. Role of media vehicles in Advertisement 8. The Better Tool of Communication 9. An Analysis PR Vs Advertising 10. The Present scenario 11. The Research 12.
Findings, analysis and recommendations 13. Future of advertising Banking System in India Currently, India has 96 scheduled commercial banks (SCBs) – 27 public sector banks (that is with the Government holding a stake), 31 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 38 foreign banks. They have a combined network of over 53,000 branches and 49,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18. 2% and 6. 5% respectively
In the early 1990s, the then Narsimha Rao government embarked on a policy of liberalization, licensing a small number of private banks. These came to be known as New Generation tech-savvy banks, and included Global Trust Bank (the first of such new generation banks to be set up), which later amalgamated with Oriental Bank of Commerce, Axis Bank(earlier as UTI Bank), ICICI Bank and HDFC Bank. This move, along with the rapid growth in the economy of India, revitalized the banking sector in India, which has seen rapid growth with strong contribution from all the three sectors of banks, namely, government banks, private banks and foreign banks.
The next stage for the Indian banking has been set up with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%,at present it has gone up to 74% with some restrictions. The new policy shook the Banking sector in India completely. Bankers, till this time, were used to the 4-6-4 method (Borrow at 4%;Lend at 6%;Go home at 4) of functioning. The new wave ushered in a modern outlook and tech-savvy methods of working for traditional banks.
All this led to the retail boom in India. People not just demanded more from their banks but also received more. Currently (2007), banking in India is generally fairly mature in terms of supply, product range and reach-even though reach in rural India still remains a challenge for the private sector and foreign banks. In terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets relative to other banks in comparable economies in its region.
The Reserve Bank of India is an autonomous body, with minimal pressure from the government. The stated policy of the Bank on the Indian Rupee is to manage volatility but without any fixed exchange rate-and this has mostly been true. With the growth in the Indian economy expected to be strong for quite some time-especially in its services sector-the demand for banking services, especially retail banking, mortgages and investment services are expected to be strong. One may also expect M&As, takeovers, and asset sales.
In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time an investor has been allowed to hold more than 5% in a private sector bank since the RBI announced norms in 2005 that any stake exceeding 5% in the private sector banks would need to be vetted by them. In recent years critics have charged that the non-government owned banks are too aggressive in their loan recovery efforts in connection with housing, vehicle and personal loans.
There are press reports that the banks’ loan recovery efforts have driven defaulting borrowers to suicide. Executive Summary Today’s business world has become very competitive. To keep pace in this competitive environment it is very necessary for a marketer to communicate about the company’s offerings to consumers. All the element of promotional mix work to communicate with the audience. Marketers use communications in an attempt to persuade customers to act in a desired manner.
Thoughts about the Future of Advertising Skeptics who forecast the demise of advertising ignore the fact that business and other enterprises have an innate need to communicate with their publics. The real question is not will advertising continue to be an important tool of business communication but simply, what forms will advertising take in the future? Certainly a host of issues related to change face the advertising business. Such issues include the relative importance of the various types of advertising over time, who will pay for what, what controls might be appropriate in light of the changing media environment, and so on.
While changes and improvements in traditional mass media continue to occur, a massive change is underway which blends the efficiency of traditional mass media and the marketing potential of one-to-one interactivity. Examples of this blending include, most importantly, the internet, but also personalized supermarket checkout coupons and personal in-flight video screens. Now the issue arise how advertisers can participate in the development of such media to the benefit of all the parties involved. Development Credit Bank A Quick Brief
A new generation private sector bank, Development Credit Bank (DCB) is the preferred banking services provider across 80 state-of-the-art branches across 10 states and two union territories. The Bank has recently launched several value added initiatives and intends to become one of the country’s preferred and profitable private sector banks, providing a comprehensive suite of “best in class” products for customers in Retail, SME and Corporate Banking market segments in chosen geographies. DCB has deep roots in India since its inception in the 1930’s.
Its promoter the Aga Khan Fund for Economic Development (AKFED) holds over 23% stake. AKFED is an international development agency dedicated to promoting entrepreneurship and building economically sound enterprises in the developing world. It had co-promoted HDFC in India in the late seventies. AKFED operates as a network of affiliates comprising 90 separate project companies. Employing over 30,000 people, it reported annual revenues in excess of US$1. 5 billion. The Fund is active in 16 countries in the developing world. The Past
Built on over 78 years of trust, tradition and togetherness, DCB was converted into a Scheduled Commercial Bank on May 31,1995, in the wake of India’s economic liberalisation. It was the only co-operative bank, which successfully crossed over and thrived in the face of change. The Bank has a network of 80 state-of-the-art, customer friendly, and conveniently located branches across the states of Maharashtra, Gujarat, Andhra Pradesh, Karnataka, Delhi/ NCR, Rajasthan, Goa, Tamil Nadu, Haryana, West Bengal and the Union Territories of Daman ; Diu and Dadra ; Nagar Haveli. Spreading wings, with the wind beneath
Under the table guidance of an experienced Board of Directors and the leadership of a dynamic senior management team DCB strategically aims to enhance its reach and spread, while introducing exciting new banking products for its customers. Seamless, flawless and timely service To adhere to its vision of becoming the gold standard in customer service in Indian banking, intensive training and service quality programmes have been initiated with customer delight becoming the key focus of the Bank. This will become the lifeblood of DCB and act as its key differentiator. Not just a Bank, a Financial Supermarket
DCB intends to offer an extensive range of products across its branches. Suitable variants of the basic products like savings and current accounts as well as innovative products such as the ‘DCB Trio’ and ‘Easy Business,’ keep DCB ahead of the pack. Demat Account and a range of investment products like mutual funds, insurance and bonds make the product offering complete. Close to its roots, yet flying high Since its inception, DCB has always taken an active interest in developing low-cost customer deposit products and providing for the needs of small and medium businesses in select regions.
It continues to fulfil every consumer need with great enthusiasm. The Bank is also suitably equipped with the latest versions of Finacle from Infosys and Oracle to provide seamless service to its customers. A Bank for its people The pan-India employee teleconferences and introduction of performance-based incentives have already charged the existing work force. Given its reputation for being a non-hierarchical and dynamic organisation, DCB is one of the chosen destinations for aspiring banking professionals. A grip on the future The Bank has an active and robust treasury, managing its interest rate risks nd liquidity by providing an uninterrupted flow of funds, positioning the Bank for future growth. About the Dissertation Objective:- The aim of choosing this bank is “to provide a guideline to businesses, based on which, they can frame and implement suitable strategies pertaining to the form of Advertising as a part of marketing communication with respect to the continues changing business scenario”. The thesis has overall identified the need of Advertising and PR, how is it different from each other and how it is effecting the business of today.
We all know that these tools of communication become the bread and butter of any organization. This is because they want to be noticed and known in the business environment. The brief giving how this dissertation aims to find out the true analysis of these two most effective communication tools are: * The research would aim at giving an insight of the importance and need advertising and PR in marketing of products and services with the aim of brand building and recall building initiative. * The research would give an analysis how each of the above affect the present business in Indian scenario and what is its impact on the same. The present status as a tool of marketing communication * The future prospect as a tool of marketing communication * To find out why should a particular company take the strategy of undertaking Advertising or PR as tools of marketing * To examine which is the best tool of marketing among the two. * To find out the perception of advertising from the perspective of customer. Research Methodology Apart from the Secondary data analysis, to give it a back up with the perceptions and suggestions certain methodologies have been undertaken to make this dissertation or thesis a more proactive.
The research methodology would be kept very simple. The research would concentrate on both Primary and secondary data research, wherein; the following resources have been followed to collect the data. For primary data collection * Questionnaire design * Personal Interviews For secondary data collection * Articles * White Papers * Management Books * Magazines * Internet A total of 60 respondents were selected Filling up of questionnaire- 55 Personal Interviews- 5 This is a very interesting and hot topic in the business scenario.
So the businesses should understand, what were there achievements in satisfying there customer in the Indian market, and accordingly should make strategies for the same. All business wants to market itself and so PR and Advertising have become two of the most suitable methods to build the brand, which would help them to be profitable in the competitive world. Thus, the research and the thesis would provide an analysis from all aspect- be it the need, importance, the current status, satisfying the present to fulfill the future.
The perceptions and suggestions would give the reader a thorough understanding and help to take future decisions. The total thesis would be made after proper research and inputs from best of the people in the industry. Suitable examples, references of the persons contacted would be provided. Literature Review Chapter 1 Public Relation Public Relations as a subset of marketing communication is becoming increasingly important in India. Public relations helps an organization and its public to adapt mutually to each other.
Often, it is a term used to describe both, a way of looking at an organization’s performance and a program of activities. The public relations function takes many forms in different organizations, including public information, investor relations, public affairs, corporate communications, employee relations, marketing or product publicity, and consumer service or customer relations. Basic to all public relations, however, is communicating. Well-planned, effectively handled communications are increasingly seen as essential to the success and even existence of organizations and causes in today’s changing world.
Every organization-government, business, labor, professional, trade, health, cultural, financial, recreational, educational and public service-depends on people. Their attitudes, attention, understanding, and motivation can be critical to the success or failure of an organization or idea. A public relations, at its best, not only tell an organization’s “story” to its publics, but also helps in shaping the organization and the way it performs. Through research, measurement and evaluation, public relations professionals determine the concerns and expectations of the organization’s publics and explain them to management.
A responsible and effective public relations program is based on the understanding and support of its publics. PR is a non-personal form of promotional communication but (in contrast with advertising) is a non-paid form. For example many newspapers and magazines regularly carry news about new launches etc with a view to inform their readers. At random if we pick up the Financial Express of 18. 10. 99. Then on page-7 of the newspaper there are three news items: * Sikkim Dairy Products and Ind. Swiss company had introduced a range of fresh and natural cheese. * Mercedes Benz is offering pre-owned (i. second hand) Mercedes at Rs. 12. 5 lakh onwards: against the new Mere price of Rs. 28 lakh. * Navneet Publications has introduced games for children. Since these items of news, even if they occupy newspapers space, they don’t have to be paid for by the marketers. This is what is PR of the respective brands. General Features of PR: * Unpaid: Already explained above. * No identified sponsor: Here the news is supposedly given by the PR firms to the respective media, through which the news get published; and not by the company. To that extent it is more believable.
In other words when the main objective of communication is to create conviction then PR through independent media exposure may prove to be better than through advertising. * Credibility: Since the news seems to have come from an independent unbiased source it appears more authentic. For instance, on 7. 4. 2000 Times of India Delhi edition carries a news item discussing the virtues of Compaq 7800, their latest offering. This naturally will be believed more by a potential buyer than an advertisement for the same product. * Additional Reach: This information reaches even those who otherwise may decide to ignore an advertisement.
More so because while reading a newspaper one may decide that he has bought it to read news not ads. * No/ low cost: Thus as explained earlier, when a Fashion columnist covers the show organized by say Ritu Beri, she only extends her courtesy of an invitation card and may be a cocktail party post fashion show. * No Control: Greatest demerit is that we cannot control PR. Thus, it could be negative PR whereby the product may be criticized. The newspaper may decide to ignore the particular brand, since it may not find it worth publicizing.
Chapter 2 Understanding PR Today business success depends not just on new and better products but equally on being heard in public forums. As the country begins to develop new rules of the economic game, business needs a credible presence – with customers, employees, shareholders, financers, journalists, government officials and law makers. This will provide the cutting edge to competitiveness. Dealing with the scrutiny of various interest groups, being heard in various forums through public affairs communication, is what Public Relations is all about.
The main functional area of Public Relations encompasses the following aims: * Understanding and analyzing public opinion, attitudes and issues which might have an impact on the organisation’s plans and operations. * Counseling organisation’s management on policy decisions, courses of action and communication with regard to organisation’s social responsibilities. * Researching, conducting and evaluating on a continuing basis, programs of action and communication to achieve informed public understanding necessary to the success of an organization. * Planning and implementing the rganisation’s effort to influence or change public policy. * Managing the resources needed to perform all above. Media is the all-pervasive means of building perceptions and images. When a PR program is planned, each medium gets its own individual consideration. In-depth study of the present communication strategy in your organization marks the beginning of a committed relationship. Even specific short term projects involve being responsive and proactive to public opinion. Our expertise in the consultancy arena is an added advantage. The Activities of PR The basic Activities concerned are: * Media Relations * Editorial Services Media Update * Image ; Brand Management * Event Management * Communication Workshops * Government Relations ; Lobbying * Crisis Management * Employee Relations ; Consumer Relations * Advertisement Management * Corporate Films * Investor Relations * Public Opinion ; Market Research MEDIA RELATIONS This is the first step towards being known in the media. For this, their media relation team needs to give that extra push in generating newer media contacts on a regular basis. The stronger the relationship with the media, the easier it gets to get you covered in the publications and electronic media.
The main activities pertain to: * Create strategies to effectively work with the media. * Build proactive relationships with the media that benefit the clients. * Plan, publicize and provide services for press conferences and media briefings. * Work on an ongoing basis to position your company in a positive light. EDITORIAL SERVICES This is a very specialized service wherein, after understanding the client requirements, seasoned client servicing and copywriting experts develop editorial write-ups to get printed in the various target publications. The main activities pertain to: Create support products, including fact sheets, brochures and other forms of marketing material. * Develop news releases, news advisories and media kits, in journalism form. * Pen guest commentaries and letters to the editor for submittal. * Write speeches and presentations. MEDIA UPDATE An active PR campaign for a client goes waste, if the media is not informed about the right things at the right time. The media update service helps its clients to stay in news always. The main activities pertain to: * Insight on what to expect from the media in its news and editorial coverage. Advance warning on what reporters may ask and how they may ask it. * Timely updation of newsworthy information to the target media. GOVERNMENT RELATIONS ; LOBBYING It is very important to know how to communicate with all levels of government, in ways they appreciate and understand. Whether the political participation at an event is to be catered to, have the intention to reach a politician on an issue, or simply need an appropriate political invitation list, we can provide access to the policy makers. The main activities pertain to: Conduct thorough, accurate research to acquire an in-depth picture of the community and its governmental structure, policies and procedures. * Cultivate and nurture an effective network of community support. * Implement grass-roots and governmental strategies. * Assist with the preparation of public presentations. CRISIS COMMUNICATION Crisis management begins with an audit of potential problems caused by internal or external forces. From the audit, we would identify loopholes, develop necessary internal communications procedures and train your management through simulated crisis. The main activities pertain to: Development of emergency response and communications plans. * Advance planning. * Creation of media and community contact directories. * Media training prior to an actual crisis situation. * Crisis management plans that deal with the media. * Consultation and real-time strategic planning during a crisis. * Day-by-day analysis of media coverage. EVENT MANAGEMENT Today the work of PR is not only restricted to the realm of getting coverages only. It has further advanced to create, manage and publicize events for clients, from international launch to national seminars, from social events to cultural evenings.
Whether it’s a large-scale public event or an industry conference, a splashy product launch or a celebrity night, the PR firms handles events with flair. Original ideas and flawless execution are the only accepted standards. From venue recommendations to the invitation list, the final result is that the events produce impressive and measurable results. The main activities pertain to: * Conceptualize and deliver events of any magnitude * Co-ordinate all third party negotiations and vendor arrangements * Design of all invitations * Dispatch and follow-ups of all invitations Arrangement for special guests of honor, celebrities, politicians, etc. COMMUNICATION WORKSHOPS It is highly imperative for the corporate spokesperson, who would be the face of the company he represents to speak out something awkward or unwanted in any corporate interview with the media. The PR objective becomes prominent in designating corporate spokesperson getting to interact with a senior media personality in order to brush up their skills in handling various media queries with poise an d elan. The main activities pertain to: * Briefings on how to communicate with the media. * Insight into what to expect from the media. Tips on how to prepare for an interview. * Mock interviews so you can practice techniques needed to succeed. * Talking points that turn your ideas into concise, quotable statements. ADVERTISEMENT MANAGEMENT An important element of public relations can be an advertising program that supports other communications strategies, such as media relations. But, one needs to strategize the media plan so that it can complement the editorial support effectively. The main activities pertain to: * Research advertising potential and recommend outlets. * Create a comprehensive advertising program. * Write copy for print advertising. Produce print advertising. PUBLIC OPINION AND MARKETING RESEARCH Public opinion research and marketing research provide essential information for strategic decision making. The in-house expertise and necessary capabilities to provide clients with the best and most useful strategic data possible is the main idea. A effective Pr would recommends a ‘Comprehensive Reputation Audit & Assessment Systems’ (CRAAS) which helps us understand the market perception of the client’s strengths, weaknesses, challenges and its positioning in the market, in order to formulate a proper media strategy.
The main activities pertain to: * Identify perception parameters * Map your company perception vis-a-vis your competitors. * Strategies media communication based on the positive perception results. IMAGE AND BRAND MANAGEMENT In the emerging marketplace, the corporate brand and image is being dramatically redefined. While the corporate brand is now understood to be a valuable asset, many companies are struggling to realize its full potential. The corporate branding practice is dedicated to developing the corporate brand as a potent and sustainable competitive advantage, and maximizing its utility to our clients.
The main activities pertain to: * Brand Development, (research, segmentation, analysis, identity development, strategic planning) * Brand Expression (targeting, messaging, program execution) * Measurement / Program refinement. EMPLOYEE RELATIONS & CONSUMER RELATIONS In the battle for share of mind and market, your internal audiences are the front lines. No corporation or organization can hope to communicate persuasively and productively with outside audiences unless and until it has gotten the message to its own employees, distributors and other business partners. The main activities pertain to: Advising clients on internal communication best practices * To providing editorial and graphic design for magazines, newsletters and marketing materials * Bolstering morale through poster and exhibit design. * Newsletters * Consumer Surveys * Consumer oriented Events * Tie ups and Associations INVESTOR RELATIONS SERVICES The investor relations services are designed to increase your market value and broaden your shareholder base. The effective PR strategies would make the respective company standout among the thousands of investment opportunities battling for each investor’s rupees.
After extensive market research, developing and communicating a compelling investment thesis for owning the company’s Stocks and Securities following the guidelines and rules of SEBI. The main activities pertain to: 1. Financial Messaging 2. General Investor Relations 3. Pre-IPO Communications 4. Mergers and Acquisitions The PR spend The Rieses still see a role for advertising, but primarily as a defense mechanism for established brands and products, not as a builder of new ones. Public relations — specifically publicity and the resulting word of mouth — are what really build new brands, they maintain.
Most industry executives might dismiss that as “a gross generalization” but all agree that PR is an important and growing tool being increasingly used by marketers. However, both suffered for year. PR spending has long paled compared to ad spending, given the lack of media expense and relative lack of production expense involved. A 2001 survey by Thomas L. Harris/Impulse Research found consumer-products companies, for example, spend about 0. 05% of revenue on PR. That’s a tiny fraction of the 2% to 10% of revenues such companies ordinarily spend on overall marketing expense.
The survey also found that marketers cut PR budgets as a percent of sales from 0. 09% to 0. 07% last year, a 29% drop. The percentage of client PR budgets earmarked for product publicity, however, actually went up five points to 23%, even though total spending on product publicity actually went down 10% to $518 million. In India the Public Relations industry reached a major milestone last year in December with the launch and formation of Public Relations Consultants Association of India (PRCAI), an umbrella body representing all the professional consultancies in India.
The PRCAI, mooted by a group of seven leading public relations firms, is a pioneering body that will represent the over Rs. 1 billion industry, which employs more than 8,000 professionals today. Union Budget 2006-07: Public Relations firms ready for service tax The public relations fraternity has welcomed Finance Minister P Chidambaram’s proposal in the Union Budget 2006-07, presented in Parliament on February 28, to formally bring PR services under the service tax net. The Finance Minister also proposed to raise the service tax rate from 10 per cent to 12 per cent and widen the indirect tax net to double the collections to Rs. 4,500 crore in 2006-07. During 2005-06, the government is likely to collect Rs 23,000 crore as against the budget estimate of Rs 17,500 crore. Speaking about the repercussions of service tax on the PR industry, Perfect Relations’ Cherian said, “I believe the move will lead to consolidation among the small and non-organised PR firms because they may find it difficult to cope with the service tax burden. These small firms will ultimately be acquired by bigger firms. ” Chapter 3 Customer Relationship Management in context to Public Relation
Customer relationship management (CRM) is a broadly recognized, widely-implemented strategy for managing and nurturing a company’s interactions with customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes—principally sales activities, but also those for marketing, customer service, and technical support. The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service.
Customer relationship management denotes a company-wide business strategy embracing all client-facing departments and even beyond. When an implementation is effective, people, processes, and technology work in synergy to increase profitability, and reduce operational costs. Chapter 4 The Research A research was conducted for making this thesis a more value addition and to provide a basis to the industry to choose the right mix of communication tool for laying down a more successful business. Based on the questionnaire given below, the research was conducted
Research Methodology and Data Sources: The research was started with an Exploratory Research, it included interviews. Exploratory Research seeks to investigate preferences and the impact towards the current business scenario. On the bases of this research various hypothesis was framed and tested on the basis of information collected through a survey. The survey was done on the basis of a questionnaire. The following are the factors have been taken into consideration while seeking out the information for the assessment: Methodology used The data collection tools used was: * Questionnaire Personal Interview The personal interview are based on the question “ Which one do you think is more impactful communication tool and how does it create an impact in the present business scenario? The questionnaire comprising of 12 questions covered all the relevant aspects that were required for the survey among 60 respondents. Demographic Profile| Age group 18 years and aboveGender Male and Female| Psychographics profile| All the people who were existing customers of the bank and can give their views on the same to let us know their preference level. Geographic location| Chandni Chowk (Old Delhi) branch of Development Credit Bank| Questionnaire CUSTOMER SERVICE RATING APPEAL TO THE CUSTOMERS Dear Respondent, The objective of this survey is to know the point of views of the costumer about the bank and what do they think and level of satisfaction derived from the bank; this would help us in improving our future services. I would be very grateful to you for filling the questionnaire and being a part of this research PART – A – QUALITATIVE ASPECTS Sl. No. | Services| Ratings| 1. | Cleanliness, Layout, Access to the entrance,Visibility of Signboards| V.
Good| Good| Average| Poor| 2. | Space available for sitting / waiting / writing| V. Good| Good| Average| Poor| 3. | Easy availability of loose pay-in-slips,withdrawal slips, DDs / TTs forms ; challans etc. | V. Good| Good| Average| Poor| 4. | Availability of services of staff members for any enquiry, problems or Guidelines for various deposit schemes, theirAdvantages| V. Good| Good| Average| Poor| 5. | General behaviour of the members of staff| V. Good| Good| Average| Poor| 6. | Availability of services at ComputerisedCounters eg. Knowing the balance, Debit /Credit of instruments etc. and delivery of printed Pass Books / Statements| V. Good| Good| Average| Poor| 7. | Expert services available in handling ofimport / export business| V. Good| Good| Average| Poor| 8. | Compliance of standing instructions| V. Good| Good| Average| Poor| 9. | Availability of Complaint Register on demand| Easily availableon Demand| Not available| 10. | Any complaint lodged by you is still to beredressed. If so please put the date of complaintlodged with the branch| None| Not attended (putdate of lodgementof complaint)| B. Quantitative Aspect Sl. No. Staff initiative to minimise waiting hours of the customers at the Counter| | | | 1. | Payment of Cash, Cheques, Demand Drafts| within 15mts. | 15-30mts. | More than30 mts. | 2. | Receipt of Cash in the accounts / purchase ofDDs and in other accounts| within 15mts. | 15-30mts. | More than30 mts. | 3. | Delivery of Demand Drafts / Pay Orders / BankOrders| within 20mts. | 20-30mts. | More than30 mts. | 4. | Delivery of Fixed Deposit Receipts| within 20mts. | 20-30mts. | More than30 mts. | 5. | Updating of Savings / RD Pass Books (Whereentries are not more)| Within15 mts. | 15-30mts. Morethan 30mts. | Morethan 1day| 6. | Issue of Cheque Books in Current / SB a/cs| Within15 mts. | 15-30mts. | Morethan 30mts. | Morethan 1day| 7. | Issue of Statement of Accounts (Manual)| Within 7days| 7-15 days| More than15 days| 8. | Issue of Statements of Accounts / Pass Books(on Computers)| Instantly| More than30 mts. | More than1 hour| Findings and Analysis PART – A – QUALITATIVE ASPECTS Question 1: Cleanliness, Layout, and Access to the entrance, Visibility of Signboards? 69%+25% of people believe on clean layout of the bank Question 2: Space available for sitting / waiting / writing 5%+45% of people believe in space availability of the bank Question 3: Easy availability of loose pay-in-slips, withdrawal slips, DDs / TTs forms ; challans 80% of customer can easily find the required documentations Question 4: Availability of services of staff members for any enquiry, problems or Guidelines for various deposit schemes, their Advantages Question 5: General behavior of the members of staff In both the questions the respondents likes the way they are treated Question 6: Availability of services at Computerized Counters eg. Knowing the balance, Debit /Credit of instruments etc. and delivery of printed Pass Books / Statements The evidences are easy to submerge Question 7: Expert services available in handling of import / export business As per requirement customers availing import export services have responded well Question 8: Compliance of standing instructions If possible all complaints are taken on vain Question 9: Availability of Complaint Register on demand Every complain is registered Question 10: Any complaint lodged by you is still to be redressed. If so please put the date of complaint lodged with the branch Every registered complain is solved PART – B – QUANTITATIVE ASPECTS
Question 1: Payment of Cash, Cheques, Demand Drafts Only 2% of bills are not served well Question 2: Receipt of Cash in the accounts / purchase of DDs and in other accounts To maintain the regular cash equity balance Question 3: Delivery of Demand Drafts / Pay Orders / Bank Orders Safe delivery leads safe deposits Question 4: Delivery of Fixed Deposit Receipts With 7. 75% of interest rate on f. ds Question 5: Updating of Savings / RD Pass Books (Where entries are not more) Machines lead to mass and efficient production and services Question 6: Issue of Cheque Books in Current / SB a/cs
Question 7: Issue of Cheque Books in Current / SB a/cs Question 8: Issue of Statements of Accounts / Pass Books (on Computers) Desperate times need desperate measures Interviews The personal interview is based on the question “Which one do you think is more impactful communication tool and how does it create an impact in the present business scenario? ” Out of all the interviews, few of the worth mentioning COMMENTS are given as follows. ‘I think D. C. B is more effective since it concentrates on their present customer so well that they can reach a wider mass through word of mouth.
If a company want to make itself and its product and services prominent in the market vis a vis its competitors, it should be able to communicate it to the target audience. If you consider this fact that India, is widely a rural country and a huge part of the population is illiterate, you can reach them through attractive and pictorial cum sound based advertisement. Thus, I think the company has a potential to grow and be more effective. ’ Mrs. Gurdeep Kaur Housewife ‘I think today Development Credit bank can do more than just what they are doing. An Advertising can deliver the message to the target audience in a more prominent way that PR.
A Company should be in the position to adopt the best communication tool for itself . Although I have seen a couple of advertisements of the bank in the local newspapers but it would be better that the company take a step ahead and work on a better mass media. The present business scenario is very complex, yet interesting. So to keep pace with it as well as the competitiveness, the companies needs to make the right choice’ Ravi Perti Client Servicing, Adcon Services. Comments besides the questionnaire and the inteview Mr. Ashis Nigam: finds the bank to be very good as has recently shifted from H.
D. F. C Mr. Bhandari, Medi Slabs: has the best experience in the online banking Mr. Manu Jain: finds staff to be less White Paper On Daily Rituals of the World A recent study by ad agency BBDO Human beings are creatures of habit—the morning coffee with two sugars, the post-lunch brush and floss, the bedtime yoga routine with lights dimmed. Advertisers, on the other hand, often try to break those habits by wedging new products and services into various parts of the day. Now comes ad giant BBDO Worldwide with its latest weapon to help clients get an edge: An extensive global study of daily rituals.
Unlike habits or routines, which may be ingrained but carry no emotional meaning, a ritual is described in the study as “a defined series of actions that helps us transform from one emotional state to another. ” Many of those actions involve favorite things, naturally, and BBDO’s hope is that the data will help clients insert their products into those rituals. “We didn’t have categories or brands in mind,” says Tracy Lovatt, director of behavioral planning at BBDO North America. “We wanted to study the power of rituals in our lives. The study comes at a time when ad agencies are struggling to find new ways to reach customers, and emphasize the value of their work to clients. “This is another example of how the richest source of insight comes from observing behavior,” says BBDO President and Chief Executive Andrew Robertson. Making Meaning But rituals are something many associate with rites of passage—marriage, death, even the transition to a new season. BBDO, in contrast, came up with five that occur every day in every part of the world: * “preparing for battle” (the morning ritual), * “feasting” (reconnecting with your tribe over food), * “sexing up” (primping), “returning to camp” (leaving the work place), and * “Protecting yourself for the future” (the ritual before bed). As part of the study, researchers asked more than 5,000 people in 21 countries how they behave during these five transitional periods of the day. While people in every culture report engaging in rituals for similar reasons, they approach them quite differently. About 41% of Chinese respondents said they schedule sex, for example, while only 3% of Russians do—and 7% of Americans. Nightly Lockdown Fully 44% of Brazilians read in the bathroom, according to the study; in Saudi Arabia, 10% of respondents do.
More than half of all Indian respondents surf the Web before leaving the house, while less than one-third of Americans or Canadians do. About 80% of Saudi Arabians pray or meditate before work; in Germany, 3% of respondents do. The rituals that are easiest to understand occur in the morning and evening. Marketers have long appreciated the value of getting a foothold in the tightly scheduled morning ritual, when people tend to stick with a routine and a particular set of products. BBDO participants reported doing an average of seven activities in under an hour, from brushing their teeth and drinking coffee to checking -mail (participants between the ages of 60 and 70 reported the highest rate of e-mail use). BBDO dubbed the period before bed “protecting yourself for the future. ” That’s because the survey found people in self-preservation mode, as they went about locking windows and doors, applying wrinkle cream, and selecting clothes or “armor” for the next day. It’s a brief period, but also the perfect time to find customers at their most vulnerable. As BBDO’s Robertson, a former insurance salesman, puts it: “If there was some way to be in the home as people are going through lockdown, you could probably sell a lot of insurance. Broad Categories When it comes to rituals in the middle of the day, the survey’s results are less conclusive. That might have to do with the categories BBDO settled on. Feasting, for example, is described as “pleasurable and indulgent…the ritual that reunites us with our tribes. ” But the frequency with which people feast vs. simply eating something to stave off hunger isn’t clear, and anyone who has organized a midweek meal with busy kids knows that “indulgent” may not be the best way to characterize the mood. Everyone, too, understands the elaborate preparations that go into “sexing up. But the category is a catch-all for everything from teenage girls e-mailing each other to find out what they’re going to wear. “Returning to camp,” meanwhile, can mean anything from sharing martinis with friends to staring zombie-like at the TV with a bag of chips in hand. Watching TV also creeps into both the morning and evening rituals, as do other habits—this perhaps means the same activity serves different purposes at different hours of the day. Even so, marketers may find BBDO’s results help them tailor their approach to consumers.
For instance, cultures in which a high proportion of people eat on their way to work, such as China, could be more open to portable breakfast food than those that don’t, such as Spain. While everybody showers or bathes, a shower gel aimed at Polish consumers might emphasize relaxing qualities, as 84% of them shower at night. A more invigorating message might work better with the 92% of Mexicans who shower or bathe in the morning. Knowing that women in Colombia, Brazil, and Japan apply makeup in their car at twice the global rate could prompt a new approach to the design and marketing of cosmetics.
Breaking the Code The challenge is that most consumers are loyal to particular products and patterns, making it tough for marketers to become part of a ritual if another brand is already there. Americans, in particular, said they use the same products every morning, though they’re more flexible about what they use at night. Russians are less predictable—only half of them use the same products as part of their morning ritual, and 19% of them use the same products before going to bed.
If there’s one constant around the world, it’s this: Almost everyone gets irritated when their rituals are disrupted. How will clients see the work? BBDO has presented the findings to several so far, and some were willing to share a few comments with Business Week. YUM! Brands Chairman and CEO David Novak, who calls his company “maniacal about insight-driven marketing,” says the study will “provide a fresh, new lens to uncover those insights that lead to positive and lasting changes in consumer behavior. Pepsi-Cola North America Chief Marketing Officer Cie Nicholson called the study “intriguing, because we can learn how to build our brands’ share of life, not just share of market. ” For Scott Aakre, a vice-president at Hormel Foods (HRL), the Holy Grail is to “find a way to break the code and fit into one of these five universal routines sowe might be able to build lifelong relationships between our brands and consumers. ” That’s a tough challenge. HERE AT DEVELOPMENT CREDIT BANK WE BELIEVE…….