Report Aswin

8/8/2019 Report Aswin

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INDUSTRY PROFILE

A stock broker who also works as a customer service coordinator works to

ensure that all aspects of the companies business with regards to investing

and handling client's funds and portfolios are completed to the client's

satisfaction. This means that all activities with regards to the buying and

selling of investments is done with the various laws and regulations as set

down by the Securities and Exchange Commission or other governing body.

A customer service coordinatorfor a stock brokerage ensures that customers

receive their statements and have access to up to the minute information

about their accounts. Since the stock market is always changing immediate

access is very important when trading stocks or commodities. The customer

service coordinator handles all issues or complaints by clients and while

they may not resolve them personally they ensure that the proper authority

within the brokerage is alerted of the concern or problem.

A customer service coordinator should have excellent communication skills

and should be comfortable dealing with complaints and individuals that maybe upset or verbally aggressive. Since most of the contact will be done by

phone the customer service coordinator must be able to get the necessary

information from the customer or client to determine the problem, know

how to resolve the issue or whom to speak with in the brokerage to get the

issue resolved, and then provide follow up to the customer.

Some issues such as data entry mistakes or other issues can often be dealt

with directly by the customer service coordinator without any other

assistance.

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Common work activities include:

Answering phone calls, emails, faxes and written requests for

information or clarification of problems or issues with accounts.

Communicating effectively with the clients to discover the exact

concern and then correcting the problem to the customer's satisfaction.

Providing information to others in the company when the issue is

beyond the scope of the customer service coordinator to correct.

Following up with clients to provide complete service and make sure

all concerns have been addressed.

Completing reports, phone logs or other documentation of customer

calls and issues.

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BROKING FIRM PROFILE

Networth stock broking limited [NSBL], listed on BSE since 1994, startedits journey as a stock broking house. With market maturing and the

investorsrequirements becoming more diverse, it has evolved with time and

today, offers a whole range of investment products and services.

Networth has been successfully providing premium financial services and

information for more than a decade. Its aim has consistently been to

empower investors to take charge of their financial future & help them grow

their Networth.

Networth constantly focus on scaling and upgrading the technology

infrastructure so as to provide the best services to associates & investors.

Has a presence in around 340 centers across India. Network includes around

260 Business Associates who share our success story. It is managed by a

talented team of around 1600 professionals and are serving over 100,000

clients.

The company provides the entire gamut of financial services, be it Mutual

Funds, Insurance, Equity trading, IPOs or even Loans, through one single

window. It provides to Business Associates with some of the best available

technology to enhance their clientsexperience.

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Companys online back office my networthand online transaction

platform etransactare amongst the best in the industry. They are a

corporate member of BSE, NSE & MCX SX. This enables us to trade in

equities, derivatives and currency products.

They are members of MCX and NCDEX through our subsidiaries. This

enables us to trade in commodity derivatives. Depository Participant with

NSDL and CDSL. This enables to offer depository services.They have been

appointed as a national level distributor for all mutual funds.

company have been enlisted as a corporate agency for life and general

insurance. Its in house Software Division is ISO 9001:2000 Certified. It

provides customized and ready to use software which enables seamless

processing and execution. Theyadhere to a well defined risk managementsystem & settlement mechanism thereby being compliant at every stage.

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OBJECTIVES

1. To identity the factors that determines the brokers service quality

2. To measure the satisfaction of customers towards service quality of

broking industry

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NEED FOR THE STUDY

The stockbroking industry is a service-oriented industry where brokers act

as agents for investors when a security is bought or sold and are

compensated with a commission. Investors would not hesitate to switch to

alternative brokerage houses if they do not obtain satisfaction. Providing

quality service and hence customer satisfaction should thus be recognised as

a key strategy and a crucial element of long-run success and profitability for

stockbroking businesses.

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SCOPE OF THE STUDY

The scope of the study is to measure the customized banking service quality

in networth stock broking ltd and to ensure quality initiatives leading to

soundness of the process and procedure making it the only differentiator and

key continuing success from competitors,finding the limitations and

bringing improvements.

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RESEARCH METHODOLOGY AND DESIGN

RESEARCH MEANING:

Research can be described as a systematic and organized effort to

investigate a specific problem encountered in the work setting that needs

solutions. This entire process by which we attempt to solve problem is

called research.

Research thus encompasses the process of inquiry, investigations,

examination and experimentation. These processes have to be carried out

systematically, diligently, critically, objectively, and logically.

METHODOLOGY:

Methodology is defined as the study of methods by which we gain

knowledge, it deals with cognitive process imposed on research by the

problems rising from the mature of its subject matter.

TYPEOF RESEARCH:

Descriptive research

Descriptive research has been used, it involves surveys and facts findings

enquire of different kinds the major purpose of description of the state of

affairs, as it exists at present.

The main characteristics of this method are that the research has no control

over the variable; he can only report what happened or what is happening.

The method of research utilized in descriptive research is survey methods of

all kind, including comparative and correlation method.

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RESEARCH INSTRUMENT:

The research instrument used in this study structured questionnaire.

Structured questionnaire are those in which there are predetermined

question relating to the aspect for which the researcher collects data. The

question relating to the aspect for which the research collects data. The

questions are presented with exactly the same wording and in the same

order to all the respondents.

QUESTIONNAIRE DESIGN:

The structure questionnaire foe effectiveness of the modern recruitment

practices with the following types of questionnaire open ended, close ended,

multiple choice, types of question.

DATA COLLECTION:

Data refers to information or facts. It includes numerical figures, non

numerical figures, description facts, and qualitative information. The task of

data collection begins after research problem has been defined and research

plan has been decided. The nature of the data is primary and secondary.

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Primary data:

The primary data are those that are collected through questionnaire and

direct interview. The questionnaire was framed in such a manner to obtain

correct information, graded suitably for the study.

Secondary data:

The secondary data has been collected through oral communication.

Secondary data about the company profile and other details were collected

from the company website.

SAMPLING PROCEDURE:

Convenience sampling has been used in this study. Convenience sampling is

used for selecting of homogeneous sample for the study. It refers to

selection a sample study. It is a non probability sampling. Thus research

study may include study objects, which are conveniently located. Research

findings based on convenient sampling however, cannot be generalized.

SAMPLE SIZE:

Due to time and resources constraints the sample size has been taken as 100

for survey in consultation with the company guide and the project guide.

PERIOD OF THE STUDY:

The study was undertaken for a period of 15 days from August 5 th to 20th.

During the period the following steps were taken.

Objectives were set and questionnaire was finalized.

Data were collected and recorded.

Data were analyzed and interpreted

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Report were generated

PILOT SURVEY:

A pilot survey with 10 samples from employees was conducted for tasting

the validity of the questions. It was found that there was no need for

changes in the questionnaire and hence the same questionnaire was used for

final survey also.

STATISTICAL TOOLS:

The statistical tool used for the analysis are

Frequency analysis.

Chisquare.

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REVIEW OF LITERATURE

Service Quality

Quality is the cornerstone for success in any business and is perceived as a

key factor in acquiring and sustaining competitive advantage (Hampton,

1993; Shearden, 1988). Providing service quality improves satisfaction of

customers and this is believed to lead to favourable behavioural intentions

and to ultimately affect business success (Iacobucci, Grayson and Ostrom,

1994). Establishing service quality may be the only way of differentiating

oneself. That is why many existing businesses are using enhanced service

quality to position them more competitively both domestically and globally

(Parasuraman et al., 1988; Brown and Swartz, 1989).

The most widely accepted measurement scale for service quality is the

SERVQUAL instrument developed by Parasuraman, Zeithaml and Berry

(PZB) (1988). They define service quality as the difference between what

a service company should offer and what it actually offers or the

discrepancy between expectations and perceptions of the service

performance.

To measure customer satisfaction with different aspects of service quality,

Parasuraman, Zeithaml and Berry (1988) developed a survey research

instrument called SERVQUAL. It is based on the premise that customers

can evaluate a firms service quality by comparing their perceptions of its

service with their expectations.The SERVQUAL instrument is based on five

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service quality dimensions that include reliability, responsiveness,

assurance, empathy and tangibles (Zeithaml and Bitner, 2000) and they

provide the basic skeleton underlying service quality, which is

represented as a multidimensional construct.

Customer Satisfaction

The concept of customer satisfaction has been used by consumer behaviour

and marketing researchers. Researchers consider customer satisfaction as a

part of consumer behaviour whereas practitioners treat it as a focal point for

designing successful marketing strategies. The majority of approaches view

customer satisfaction as a cognitive process (Bloemer and Poiesz, 1989).

The widespread approach to the definition of customer satisfaction is

therefore that it is the accumulated experience of a customers purchase

and consumption experiences (Andreassen, 1995). Klaus (1985) defines

satisfaction as the customers subjective evaluation of a consumption

experience based on some relationship between the customers perceptions

and objective attributes of the product. Thus, customer satisfaction is

treated as an abstract and theoretical phenomenon, it can be measured as a

weighted average of multiple indicators (Johnson and Fornell, 1991, in

Andreassen, 1995).

Satisfaction is a persons feelings of pleasure or disappointment resulting

from comparing a products perceived performance (or outcome) in relation

to his or her expectation (Kotler, 2001). As this definition makes it clear,

satisfaction is a function of perceived performance and expectations. If the

performance falls short of expectations, the customer is dissatisfied. If the

performance matches the expectations, the customer is satisfied. If the

performance exceeds expectations, the customer is highly satisfied or

delighted. Despite the fact that the definition varies, the common factor is

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that satisfaction is a post-consumption evaluative judgement (Westbrook

and Oliver, 1991).

Satisfaction is believed to strengthen beliefs and attitudes whereas

dissatisfaction may create negative beliefs and attitude towards the object

(Assael, 1987). A revised attitude appears as a result of satisfaction or

dissatisfaction with the experience (Mayo and Jarvis, 1981; Oliver, 1981;

Moutinho, 1987). The result would be an increase or decrease in the

likelihood of repeat business for the investment. Moreover, the intensity of

an attitude may influence the level of satisfaction with an object. In other

words, if the attitude is positive, satisfaction results. Similarly,

dissatisfaction is expected when the attitude is negative. As such, as stated

earlier, satisfaction or dissatisfaction with a previous experience is crucial

because it may affect expectations for the next purchase (Westbrook and

Newman, 1978).

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LIMITATIONS OF THE SURVEY

Time was the main constrain. The project should be completed

within the stipulated time limit

Since the project is of qualitative nature, there was participants bias

in some cases.

The survey study was base on a sample survey of 100

Most of the respondents were less cooperative when approached.

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ANALYSIS AND INTERPRETATION

Gender frequency percent

male 90 90.0

female 10 10.0

total 100 100.0

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Inference:majority of respondents 90% were male.

Age of the

respondents

Frequency Percent

20-30 14 14.0

31-40 34 34.0

41-60 47 47.0

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Above 60 5 5.0

Total 100 100.0

Inference : majority respondents were within the age group of 41-60yrs.

Occupation Frequency Percent

Government 21 21.0

Private 30 30.0

Business 32 32.0

Others 17 17.0

Total 100 100.0

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Inference: Among options majority respondents were business people32%.

Client level Frequency Percent

Online 68 68.0

Offline 32 32.0

Total 100 100.0

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Inference: majority of respondents were online 68%.

Timely

completion of

work

Frequency Percent

S. Agree 13 13.0

agree 41 41.0

neutral 18 18.0disagree 15 15.0

S. disagree 13 13.0

Total 100 100.0

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Inference: 41% agree ,15% disagree to the timely completion of work.

problem

solving

Frequency Percent

S. Agree 12 12.0

agree 43 43.0

neutral 20 20.0

disagree 21 21.0S. disagree 4 4.0

Total 100 100.0

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Inference: 43% agree , 20% neutral,21% disagree to theproblem solving.

keeping the

promise

Frequency Percent

S. Agree 17 17.0

agree 30 30.0

neutral 34 34.0


Total 100 100.0

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Inference: majority 34% were neutral , 30% agree to thepromise keeping.

knowledge

level of the

employees

Frequency Percent

S. Agree 17 17.0

agree 36 36.0

neutral 23 23.0

disagree 18 18.0

S. disagree 16 16.0Total 100 100.0

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Inference: majority 36% agree to the knowledge level of employees.

The

employees are

courteous?

Frequency Percent

S. Agree 19 19.0

agree 31 31.0

neutral 20 20.0


Total 100 100.0

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Inference: majority 31% agree that employees were courteous.

Does the

employee

instills

confidence?

Frequency Percent

S. Agree 4 4.0agree 38 38.0

neutral 47 47.0

disagree 4 4.0

S. disagree 7 7.0

Total 100 100.0

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Inference: 47%eutral,38%agree to the employees instills confidence.

The

employees are

polite

Frequency Percent

S. Agree 15 15.0

agree 42 42.0neutral 32 32.0

disagree 6 6.0

S. disagree 5 5.0

Total 100 100.0

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Inference: 42% agree,32% were neutral to politeness ofemployees.

Individual

attention

Frequency Percent

S. Agree 2 2.0

agree 24 24.0

neutral 10 10.0

disagree 38 38.0

S. disagree 26 26.0

Total 100 100.0

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Inference: 38% disagree,26% strongly disagree to individualattention.

Interest

Protection

Frequency Percent

S. Agree 15 15.0

agree 40 40.0

neutral 21 21.0

disagree 20 20.0


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Inference: majority 40% agree to interest protection bycompany.

Recommendatio

n of stocks

Frequency Percent

S. Agree 13 13.0

agree 31 31.0

neutral 24 24.0


Total 100 100.0

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Inference: 31% agree,24% were neutral to recommendation of

stocks.

Provision of

daily reports

Frequency Percent

S. Agree 47 47.0

agree 38 38.0

neutral 11 11.0


Total 100 100.0

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Inference: majority 47% agree to provision of daily reports.

Confidential

Transaction

Frequency Percent

S. Agree 8 8.0

neutral 48 48.0

neutral 27 27.0


Total 100 100.0

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Inference: majority 48% agree to confidential transaction.

Accurate

information

Frequency Percent

S. Agree 24 24.0

agree 47 47.0

neutral 15 15.0

disagree 8 8.0


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Inference : majority 47% agree that company provides accurate

information.

Personal

Information

Frequency Percent

S. Agree 11 11.0

agree 48 48.0

neutral 25 25.0


Total 100 100.0

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Inference: majority 48% agree to confidentiality of personalinformation.

Technological

improvement

Frequency Percent

S. Agree 11 11.0

agree 15 15.0

neutral 31 31.0


Total 100 100.0

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Inference: 31% were neutral,30% disagree to technologicalimprovement.

inconvenience

in the past

Frequency Percent

Yes 67 67.0

No 33 33.0

Total 100 100.0

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Inference: majority 67% faced inconvenience in the past.

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reasons for

inconvenience

Frequency Percent

Communication 31 31.0Process/Procedure 15 15.0

Inexperienced

Employees

17 17.0

others 4 4.0

not applicable 33 33.0

Total 100 100.0

Inference: majority 31% faced communication as inconvenience.

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Overall

Satisfaction

Frequency Percent

Highly

Satisfied

12 12.0

Satisfied 34 34.0

neutral 31 31.0

Dissatisfied 11 11.0

Highly

Dissatisfied

12 12.0

Total 100 100.0

Inference: 34% satisfied,31% were neutral to overall satisfaction.

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Chisquare:To determine whether there is a significant association between

age and overall satisfaction level.

H0: There is no significant association between age and overall satisfaction

level.

H1: There is significant association between age and overall satisfaction

level.

Inference:From the table the value .043 is less than .05, hence there is

significant association between age and overall satisfaction level.


employees politeness and overall satisfaction level.

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Value df Asymp.

Sig. (2-

sided)

Pearson

Chi-

Square

21.562 12 .043

Likelihood

Ratio

23.872 12 .021

Linear-by-

Linear

Associatio

n

.009 1 .923

No of

Valid

Cases

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H0: There is no significant association between employees politeness and

overall satisfaction level.

H1: There is significant association between employees politeness and



significant association between employees politeness and overall

satisfaction level.


recommendation of stocks and overall satisfaction level.

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Value df Asymp.

Sig. (2-

sided)

Pearson

Chi-

Square

56.450a 16 .000

Likelihood

Ratio

56.693 16 .000

Linear-by-

Linear

Associatio

n

3.056 1 .080

No of

Valid

Cases

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H0: There is no significant association between recommendation of stocks

and overall satisfaction level.

H1: There is significant association between employees recommendation

of stocks and overall satisfaction level.

Value df Asymp.

Sig. (2-

sided)

Pearson

Chi-Square

29.647a 16 .020

Likelihood

Ratio

30.671 16 .015

Linear-by-

Linear

Associatio

n

.370 1 .543

No of

Valid

Cases

100


significant association between recommendation of stocks and overall

satisfaction level.


accuracy and overall satisfaction level.

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H0: There is no significant association between accuracy and overall

satisfaction level.

H1: There is significant association between accuracy and overall

satisfaction level.

Value df Asymp.

Sig. (2-

sided)

Pearson

Chi-

Square

28.538a 16 .027

Likelihood

Ratio

29.101 16 .023

Linear-by-

Linear

Associatio

n

2.396 1 .122

No of

Valid

Cases

100


significant association between accuracy and overall satisfaction level.


technological improvement and overall satisfaction level.

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H0: There is no significant association between technological improvement


H1: There is significant association between technological improvement


Value df Asymp.

Sig. (2-

sided)

Pearson

Chi-Square

30.819a 16 .014

Likelihood

Ratio

28.520 16 .027

Linear-by-

Linear

Associatio

n

.652 1 .419

No of

Valid

Cases

100


significant association between technological improvement and overall

satisfaction level.


inconveniences and overall satisfaction level.

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H0: There is no significant association between inconveniences and overall

satisfaction level.

H1: There is significant association between inconveniences and overall

satisfaction level.

Value df Asymp.

Sig. (2-

sided)

Pearson

Chi-

Square

2.929a 4 .570

Likelihood

Ratio

3.063 4 .547

Linear-by-

Linear

Associatio

n

966 1 .326

No of

Valid

Cases

100

Inference:From the table the value .570 is greater than .05, hence there no

is significant association between inconveniences and overall satisfaction

level.


Individual attention and overall satisfaction level.

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H0: There is no significant association between Individual attention and


H1: There is significant association between Individual attention and


Individual

attention

Value df Asymp.

Sig. (2-

sided)

Pearson

Chi-

Square

18.415a 16 .300

Likelihood

Ratio

19.605 16 .239

Linear-by-

Linear

Associatio

n

.244 1 .621

No of

Valid

Cases

100

Inference:From the table the value .300 is less than .05, hence there is significant

association between Individual attention and overall satisfaction level.

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FINDINGS

Most of the customers for stock brokers 90% were male.

Most of the brokerage customers belong to age group of 41-60 years47% and the least is above 60 years.

Most of the customers who banked were businessmen 32%and least

is government people.21%.

online clients are more compared to offline clients 68%.

Majority of clients agree with timely completion of work. 41%

Majority of clients agree with interest shown by company in solvingproblem 43%

Majority of clients are neutral towards promise keeping 34%.

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Majority of clients agree that knowledge level of employee aregood.36%

Majority of clients agree that employees are courteous 31%

Majority of clients are neutral towards confidence given byemployees 47%

Majority of clients agree that employees are polite 42%

Majority of clients disagree that employees give individual attention38%

Majority of clients agree that employees protects there interests 40%

Majority of clients agree that employees give recommendations onstocks 31%

Majority of clients stronglyagree that employees provides dailytransactions 47%

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Majority of clients 48% agree that employees carries transactionsconfidentially.

Majority of clients agree that employees inform about financialoperations accurately 47%

Majority of clients agree that employees are confidential inmaintaining personal information 48%

Majority of clients disagree 30% towards technologicalimprovement.

Majority of clients 67% have experienced inconvenience in the past.

Majority of clients 31% faced communication as the inconvenienceand least is process/procedures.

Majority of clients 34% are overall satisfied with company.

There is significant association between age and overall satisfaction

level

There is significant association between employees politeness and

overall satisfaction level

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There is significant association between recommendation of stocks

and overall satisfaction level

There is significant association between accuracy and overall

satisfaction level

There is significant association between technological improvement

and overall satisfaction level

There is no significant association between inconveniences and


There is significant association between individual attention and


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SUGGESTIONS

Infrastructure should be improved by the company.

Individual attention to be given.

Detailed explanation of process and procedures to be given.

Communication gap to be reduced

Effective training should be provided for employees by management

Employees should communicate in regional language.

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CONCLUSION

To meet the demands of todays marketing

environment,organizations are looking to initiate service as a means to

create or sustain competitive advantage.measuring customer satisfaction is

critical to the process of serving the customer. from the study conducted it is

evident that the service quality with high standards have instilled confidence

among customers have enabled to create concrete relationship beyond

broking.

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Questionnaire

1. Name:

2. Gender : Male Female

3. Age: 20-30 31-40 41-60 Above 60

4. Occupation : Government Private Business Others

5. Client level : Online OfflineQuestions

Strongly

Agree

Agree Neutral Disagree Strongly

Disagree

1 When company promises to do

something by a certain time ,it does so

2 When you have a problem ,the

company shows sincere intrest in

solving it

3 Company provides its service in time

according to promise4 Employees in company have

knowledge to answer your questions

5 Employees are consistently courteous

with you

6 Employees instills confidence in you

7 Employees are polite with you

8 Company gives you individual

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attention

9 Company protects your interests

1

0

Company gives adequate

recomentations of stocks/other

avenues

1

1

Company provides your daily

transaction

1

2

Company carries your transactions

confidentially

1

3

Company informs about financial

operations accurately

1

4

Company is confidential in

maintaining your personal

information

1

5

Adapting Technological Improvement

6. Did you experience any kind of inconveniences with the company

Yes No

7. If yes,what were the reasons , please tick

Communication Process/procedure Inexperienced employees Others

8. Please state your level of satisfaction with the company

Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied

Suggestions if any:

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BIBILIOGRAPHY

Web sites

www.networthdirect.com

www.wikipedia.com

www.google.com

Journals/articles

Analysis of gap in service quality through SERVQUAL

The determinants of service quality

Improving measurement of service quality.
http://www.networthdirect.com/http://www.wikipedia.com/http://www.google.com/http://www.networthdirect.com/http://www.wikipedia.com/http://www.google.com/

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