A PROJECT REPORT ON

“A
STUDY ON CUSTOMER SERVICES IN STALLION CAPITAL
MANAGEMENT”

Project Report Submitted in Partial

fulfillment of the requirements for the award of Degree of

MASTER OF BUSINESS
ADMINISTRATION (MBA)

Submitted by
Annu Gautam
Reg. No. ………………..

Under the guidance of

<……Guides Name…>

GURU GOBIND SINGH INDRAPRASTHA UNIVERSITY

August, 2018

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 BONAFIDE CERTIFICATE

Certify that this project report titled “A study on customer services in

Stallion Capital Management” is the bonafide work of “……...student’s
name…….…” who carried out the project work under my supervision in
the partial fulfillment of the requirements for the award of the MBA
degree.

SIGNATURE
(…..Name of the Guide….)
….Guide Registration Number…

2
 DECLARATION BY THE STUDENT

I …………….Your Name………….. bearing Reg. No. …………….

hereby declare that the Project entitled “A study on customer services in
Stallion Capital Management” has been prepared by me towards the
partial fulfillment of requirement of Master of Business Administration
(MBA) Degree under the guidance of ……………..name of
guide………....

I also declare that this project report is my original work and has not Benn
previously submitted for the award of any Degree, Diploma, Fellowship,
or other similar titles.

Place: .....................

Date: …………….

(------NAME IN CAPITAL-----)
Registration No. -----------------

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 ACKNOWLEDGEMENT

Many persons have contributed to make this project report on “A study

on customer services in Stallion Capital Management” a reality. I
would especially like to express my appreciation to <…name of guide…>
for his/her unstinted support, encouragement and his/her painstakingly and
meticulous effort towards developing this project.

I acknowledge the help and cooperation received from all the faculty
members of Stallion Capital Management. Several colleagues and students
have contributed directly and indirectly to the contents of this project, as
they had given me numerous ideas. Their criticism gave me the much-
needed hints about the areas that needed elaboration and amendments and
also to present them with greater clarity.

Finally, I wish to express my sincere thanks to all my family members,

especially my Parents for their constant moral support and Encouragement.
I would Welcome Constructive Suggestions to improve this project report,
which can be implemented in my further attempts.

Thanking you!

<….student’s name…..>
Enrollment No. ……………..

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 TABLE OF CONTENTS
C. NO TOPIC P. NO
EXECUTIVE SUMMARY 09-11
INTRODUCTION
1.1 ABOUT THE STUDY
1.2 CUSTOMER SERVICE
1.3 CUSTOMER SERVICE IN 7 STEPS
1.4 SKILLS OF MARKETERS
01 12-21
1.5 METHOD TO MEASURE CUSTOMER SERVICE
1.6 BENEFITS OF CUSTOMER SERVICE
1.7 WHAT DO CUSTOMERS WANT?
1.8 WHAT CONSTITUTES SATISFACTION?
1.9 WHAT ARE THE TOOLS?
THEORITICAL ASPECT
2.1 CUSTOMER SERVICE SURVEYS
2.2 WHO REALLY IS A CUSTOMER?
2.3 WHAT DOES SATISFACTION REALLY MEAN?
2.4 BUILDING A COMPANY AROUND CUSTOMER SERVICE
2.5 THE INFLUENCE OF THE SALESPERSON IN CUSTOMER
02 22-27
SERVICE
2.6 INTERNAL MARKETING – HOW IT AFFECTS
CUSTOMER SERVICE
2.7 CUSTOMER SERVICE AS PART OF SERVICE PROFIT
CHAIN
2.8 UNDERTAKING THE KEY FACTORS
PROJECT DETAILS
3.1 TITLE OF THE PROJECT
3.2 OBJECTIVES OF THE STUDY
03 3.3 IMPORTANCE OF THE STUDY 28-31
3.4 NEED FOR THE STUDY
3.5 SCOPE OF THE STUDY
3.6 STATEMENT OF THE PROBLEM
04 LITERATURE REVIEW 32-36
05 RESEARCH METHODOLOGY 37-39

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 COMPANY PROFILE
06 6.1. SBI (STATE BANK OF INDIA) 40-49
6.2. ICICI BANK
CONSUMER BEHAVIOR
7.1 THE PSYCHOLOGY OF MARKETING
7.2 APPLICATIONS OF CONSUMER BEHAVIOUR
7.3 PROVIDING WHAT IS KNOWN AS CONSUMER VALUE
7.4 UNDERSTANDING THE CUSTOMER EXPECTATION:
7.5 CUSTOMER SATISFACTION
7.6 SATISFIED CUSTOMERS
7.7 ATTRACTING CUSTOMERS
07 50-60
7.8 CUSTOMER RETENTION:
7.9 POST PURCHASE SATISFACTION
7.10 PERCEIVED VALUE
7.11 SERVICE QUALITY
7.12 INTERNAL SATISFACTION
7.13 COMPLAINT MANAGEMENT
7.14 CUSTOMER LOYALTY
7.15 CUSTOMER PROFITABILITY

08 SUGGESTIONS AND RECOMMENDATIONS 53

09 CONCLUSION 54-55
13.1. LIMITATIONS OF STUDY
10 56-57
13.2. SCOPE FOR FURTHER RESEARCH
ANNEXURE
 REFERENCES 58-60
 QUESTIONNAIRE

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 EXECUTIVE SUMMARY

The purpose of the research was to find out if the customer service provided in the
stallion capital management, has any effect on Customer Service and for that matter,
customer loyalty. Barriers to customer service provision and any other thing customers
would like to see in the Stallion capital management. were also researched. In order to
obtain the best results, the main research methodology adopted was a case study
involving the head branch of the Stallion capital management under study.
Questionnaires were used to obtain information from customers and the staff of the
Stallion capital management . Findings from the research revealed that, Stallion Capital
Management . provides appreciable level of customer service; however these are just
seen as satisfying. Barriers such as large numbers of customers with few tellers, some
problems with the system and some managerial decisions affect customer service
provision in the company. Customers at Stallion Capital Management are loyal to the
company. And these customers would like the number of tellers to be increased and
larger packing space provided for them. It was recommended that customer service
provision in Stallion Capital Management should go beyond satisfaction. Strategies
that exceed customer expectations should be put in place to delight the customers.

Many organizations focus on selling the product /service to their customers and target
about after sales services which is vital for Customer Service. The current study is
undertaken with an objective to know customer perception and Customer Service
towards Stallion Capital Management.

A questionnaire has been constructed for collecting primary data and secondary data is
collected through web, newspapers, magazines, company websites etc. Samples of 100
respondents have been approached randomly for eliciting information, and few column

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and pie charts are used for analysis and interpretation. However, the study is subjected
to few limitations such as time constraints, and the study is done only in Hyderabad
where 100 respondents were approached which is also a major limitation.

The studies revealed that majority of the respondents are satisfied with the Stallion
Capital Management. It is recommended that the company should focus more on
promoting the services with the help of television and print media. Discounts should be
given for the people who get service regularly at authorized service center to increase
Customer Service.

This research study is all about the feedback given by respondent on various product
and services. During research there were some criteria of collecting the data from
respondents such as I had to collect the data only from target respondents of target
segments. I could not do survey out of sample size. To collect the data I had used
questioner and observations methods.

This study has given me a lot of practical knowledge about market, customer’s
perception towards various products and services, and I have learnt a lot of things from
respondents. During research I have found that there are many customers exist who are
not much satisfied with some of the products and services of the companies.

Now companies are needed more attention on their advertisement and promotional
activities. This study has introduce me to many products and brands which I had never
familiar early. There were some restriction were allowed by company which I had to
follow strictly such I could not force to respondent to give his/her opinion.

The modern concepts of marketing realized that measuring consumer needs or behavior
was not enough.” CONSUMER SATISFICATION” should be the core and then the
correct perception on which marketing policies of our organization should be built.
“Management must think of itself not as producing products but as providing customer
creating value satisfaction.” Customer Service has a vital role in sustaining and
improving hold on the market. Brief descriptions about the various measures that are
needed to improve customer orientation have also been dealt with.

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Consider the fact today’s customer face a plenitude of products in every category.
Customer will be having high and raising expectation of quality and service. In the face
of their vast choices, the customer will gravitate to the offering that the best meet their
individual needs and expectation. They will buy one of the bases of their perception
value. Therefore it is not surprising that today’s winning companies are those succeed
best in satisfying indeed delighting their target customer. They pay extreme attention to
quality and service to meeting and even exceeding customer expectation. They
complete vigorously and at the co-operated smartly with their strategy partners in their
supply and distribution chain. They pursue efficiently and yet are responsible and
flexible.

Customer Service is the outcome felt by buyers who have expectation. Customers are
satisfied when their expectation are met and delighted when their expectations are
exceeded. Satisfied customers remain loyal longer, buy more, and are less sensitive and
talk favorable about the company. From this it is clear that the satisfied customer will
be less sensitive towards the fluctuating price and offensive marketing typically cost
more than defensive marketing, because it requires much effort and cost to induce
satisfied customers to switch away from their current suppliers.

We should also consider the fact that “the cost of attracting a new customer may be five
times the cost of keeping the current customer happy.” Therefore the companies are
intending in developing stronger bones and loyalty with their customers.

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CHAPTER - 01

INTRODUCTION

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 INTRODUCTION

1.1 ABOUT THE STUDY

Customer service is the provision of service to customers before, during and after a
purchase. Everyone in the organisation is providing one or all of these- perhaps they
recognise which ones perhaps not. Kurtenbach (2000) explains that those who are
successful in customer service rank their customers experience as the top priority.
Ettore (2001) is of the view that, concentrating on current customer’s information can
and should be obtained to better understand their view of the service provided.
The quality of service provided determines the level of satisfaction of the customer
even though what is seen as quality by one customer may not necessarily be quality to
another. Customer Service is a measure of how products and services supplied by a
company meet or surpass customer expectation. In a competitive marketplace where a
business competes for customers, Customer Service is seen as a key differentiator and
increasingly has become a key element of business strategy. Customer Service is an
asset that should be monitored and managed just like any physical asset. The
relationship between customer service and Customer Service is a vital one.
In a competitive market place, understanding customer needs become crucial, therefore
companies in this case, have moved from product-centric to customer-centric positions.
Customer Service is influenced by the type of service provided. Satisfaction is a
challenge particularly in the Events & Entertainment Media based service as customers
can easily switch from one company to another of a better service. It is very important
to find out what causes Customer Service. (Siadat, 2008, cited Van Rie, Lijander and
Jurriens 2001).
High levels of Customer Service bring several positive aspects to a company; it is
believed that Customer Service has a positive relationship with economic profit
(Anderson, Fornell, and Lehmann, 1994). Moreover, it will lower customer’s price
sensitivity (Fornell, 1992), and contribute to the creation of loyal customers, which in
turn implies a stable future cash-flow (Matzler et al., 1996).
Any organization that has satisfied customers is bound to increase customer base and
hence profitability. Satisfied customers may sell your organization either consciously or
unconsciously. It is therefore important that service industries provide quality service to
customers so as to satisfy them, make them loyal and retain them at the end.

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STALLION CAPITAL MANAGEMENT, has customer service as one of the pillars
on which the company operates and this research seeks to find out whether the service
being provided meets customer expectations and whether customers are being satisfied
by those services and also which other ways the service can be improved so as to
satisfy the customers

A market survey is a research technique used to gather consumer preferences and

purchase intent of a company's products and services within a geographical area.
Market surveys are extremely important because companies learn what their customers
like and dislike about their products and services. Primary research involves collecting
original data about the preferences, buying habits, opinions, and attitudes of current or
prospective customers. This data can be gathered in focus groups, surveys, and field
tests. Secondary research is based on existing data from reference books, magazines
and newspapers, industry publications, chambers of commerce, government agencies,
or trade associations. It yields information about industry sales trends and growth rates,
demographic profiles, and regional business statistics.
Customer Service is a concept that more and more companies are putting at the heart of
their strategy, but for this to be successful; they’re needs to be clarity about what
Customer Service means and what needs to happen to drive improvement.

Customer Service is the buzzword used by the business people for the success of
organization in the present days. Due to the increases of heavy competition in every
product –line it become difficult for the companies to retain the customers for longer
time. So retain the customer for longer time the marketer has to do only one things i.e.
Customer Service .If customer is fully satisfied by the product it not only rub the
organization successfully but also fetch many benefits for the company . They are less
process sensitive and they remain customer for a longer period. They buy addition
products overtimes as the company introduce related produce related products or
improved, so Customer Service is gaining a lot of importance in the present day. Every
company is conducting survey on Customer Service level on their products, to make
the products up to the satisfaction level of customers.

This project is also done to know the customers satisfaction on the Stallion Capital
Management . The impact of Events & Entertainment Media industry on the rest of the

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economy has been so pervasive and momentous that is characterized as second
industrial. It played a vital role in helping the nation to produce higher value good and
services and in the enhancing their skills and impose tremendous demand for
entertainment. The decrease in the interest rate and easy available of services, so to
gain the market share it is important for the institutes to satisfy its customers and to
retain the reputation and its image.

1.2 CUSTOMER SERVICE

According to Philip Kotler, “satisfaction is a person’s feelings of pressure or
disappointment resulting from product’s perceived performance (outcome) in
relation to his or her expectations. Customer Service is the level of a person’s felt
state resulting from comparing a product’s perceived performance (outcome) in
relation to the person’s expectations”.
Customer Service refers to the extent to which customers are happy with the products
and services provided by a business. Customer Service levels can be measured using
survey techniques and questionnaires

Definition 1: Customer Service is equivalent to making sure that product and service
performance meets customer expectations.
Definition 2: Customer Service is the perception of the customer that the outcome of a
business transaction is equal to or greater than his/her expectation.
Definition 3: Customer Service occurs when acquisition of products and/or services
provides a minimum negative departure from expectations when compared with other
acquisitions. Gaining high levels of Customer Service is very important to a business
because satisfaction customers are most likely to be loyal and to make repeat orders and
to use a wide range of services offered by a business.

There are many factors which lead in high levels of Customer Service including.
Products and services which are customer focused and hence provide high levels of
value for money. What is clear about Customer Service is that customers are most
likely to appreciate the goods and services that they buy if they are made to feel special.
This occurs when they feel that the products and services that they buy have been
specially produced for them or for people like them. This satisfaction level is a function
of difference between perceived performance and expectations. If the product’s
performance, exceed expectation the customer highly satisfied or delighted. If the

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performance matches the expectations the customer is satisfied. If the products
performance fall shorts of expectations the customer is dissatisfied.

1.3 CUSTOMER SERVICE IN 7 STEPS

It’s a well known fact that no business can exist without customers. In the business of
Website design, it’s important to work closely with your customers to make sure
the site or system you create for them is as close to their requirements as you can
manage. Because it’s critical that you form a close working relationship with your
client, customer service is of vital importance. What follows are a selection of
tips that will make your clients feel valued, wanted and loved.

1. ENCOURAGE FACE-TO-FACE DEALINGS: This is the most daunting and

downright scary part of interacting with a customer. If you’re not used to this
sort of thing it can be a pretty nerve-wracking experience. Rest assured, though,
it does get easier over time. It’s important to meet your customers face to face at
least once or even twice during the course of a project. My experience has
shown that a client finds it easier to relate to and work with someone they’ve
actually met in person, rather than a voice on the phone or someone typing into
an email or messenger program. When you do meet them, be calm, confident
and above all, take time to ask them what they need. I believe that if a potential
client spends over half the meeting doing the talking, you’re well on your way
to a sale.

2. RESPOND TO MESSAGES PROMPTLY & KEEP YOUR CLIENTS

INFORMED: This goes without saying really. We all know how annoying it is
to wait days for a response to an email or phone call. It might not always be
practical to deal with all customers’ queries within the space of a few hours, but
at least email or call them back and let them know you’ve received their
message and you’ll contact them about it as soon as possible. Even if you’re not
able to solve a problem right away, let the customer know you’re working on it.

3. BE FRIENDLY AND APPROACHABLE: A fellow Site Pointer once told me

that you can hear a smile through the phone. This is very true. It’s very
important to be friendly, courteous and to make your clients feel like you’re

14
 their friend and you’re there to help them out. There will be times when you
want to beat your clients over the head repeatedly with a blunt object – it
happens to all of us. It’s vital that you keep a clear head, respond to your clients’
wishes as best you can, and at all times remain polite and courteous.

4. HAVE A CLEARLY-DEFINED CUSTOMER SERVICE POLICY: This

may not be too important when you’re just starting out, but a clearly defined
customer service policy is going to save you a lot of time and effort in the long
run. If a customer has a problem, what should they do? If the first option
doesn’t work, then what? Should they contact different people for billing and
technical enquiries? If they’re not satisfied with any aspect of your customer
service, who should they tell? There’s nothing more annoying for a client than
being passed from person to person, or not knowing who to turn to. Making
sure they know exactly what to do at each stage of their enquiry should be of
utmost importance.

5. ATTENTION TO DETAIL (ALSO KNOWN AS ‘THE LITTLE

NICETIES’): Have you ever received a Happy Birthday email or card from a
company you were a client of? Have you ever had a personalised sign-up
confirmation email for a service that you could tell was typed from scratch?
These little niceties can be time consuming and aren’t always cost effective, but
remember to do them. Even if it’s as small as sending a Happy Holidays email
to all your customers, it’s something. It shows you care; it shows there are real
people on the other end of that screen or telephone; and most importantly, it
makes the customer feel welcomed, wanted and valued.

6. ANTICIPATE YOUR CLIENT’S NEEDS & GO OUT OF YOUR WAY TO

HELP THEM OUT: Sometimes this is easier said than done! However,
achieving this supreme level of understanding with your clients will do wonders
for your working relationship. Take this as an example: you’re working on the
front-end for your client’s exciting new ecommerce Endeavour. You have all the
images, originals and files backed up on your desktop computer and the site is
going really well. During a meeting with your client he/she happens to mention
a hard-copy brochure their internal marketing people are developing.

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 7. HONOUR YOUR PROMISES: It’s possible this is the most important point
in this article. The simple message: When you promise something, deliver. The
most common example here is project delivery dates. Clients don’t like to
be disappointed. Sometimes, something may not get done, or you might miss a
deadline through no fault of your own. Projects can be late, technology can
fail and sub-contractors don’t always deliver on time. In this case a quick
apology and assurance it’ll be ready ASAP wouldn’t go amiss.

1.4 SKILLS OF MARKETERS

Marketers have 4 main skill sets that they bring to an enterprise:

1. OPPORTUNITY IDENTIFICATION: Marketing begins before there is a

product to sell. Many people think marketing is just selling whatever comes out
of the manufacturing plant. It's the job of marketing to decide WHAT comes out
of the manufacturing plant in the first place.

2. COMPETITIVE STRATEGY/POSITIONING: Markets consist of groups of

competitors competing for a customer's business. The job of marketing is to
decide how to create a defensible sustainable competitive advantage against
competitors. Marketers conceive strategies, tactics, and business models to
make it hard if not impossible for competition to take away customers from
their business.

3. DEMAND GENERATION/MANAGEMENT: It's the job of marketing to

create and sustain demand for a company's products. Marketers manage demand
for a company's products by influencing the probability and frequency of their
customer's purchase behavior.

4. SALES: The ultimate goal of marketing is to make money for a business. In

most company’s sales is a different discipline and department from marketing.
The better job a company does of identifying opportunities, creating a
differential sustainable competitive advantage, and generating demand for their
products the easier it will be for salespeople to make sales.

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1.5 METHOD TO MEASURE CUSTOMER SERVICE
Companies use the following methods to measure Customer Service.

 COMPLAINTS AND SUGGESTION SYSTEM: Companies obtaining

complaints through their customer service centres, and further suggestions were
given by customers to satisfy their desires.

 CUSTOMER SERVICE: Responsive companies obtain a direct measure of

Customer Service by periodic surveys. They send questionnaires to random
sample of their customers to find out how they feel about various aspects of the
company’s performance and also solicit views on their competitor’s
performance. It is useful to measure the customer’s willingness to recommend
the company and brand to other persons.

 LOST CUSTOMER ANALYSIS: Companies should contact customers who

have stopped buying or who have switched to another supplier to learn why this
happened.

 CONSUMER BEHAVIOR VS CONSUMPTION BEHAVIOR: Consumer

behavior refers to the manner in which an individual reaches decision related to
the selection, purchases and use of goods and services. Walters and Paul says
that, consumer behavior is the process whereby the individual decides what,
when, how and from whom to purchase goods & services.

1.6 BENEFITS OF CUSTOMER SERVICE

The importance of Customer Service and support is increasingly becoming a vital
business issue as organization realizes the benefits of Customer Relationship
Management (CRM) for providing effective customer service. Professionals working
within customer focused business or those running call centres or help desks, need to
keep informed about the latest Customer Service techniques for running a valuable
customer service function. From small customer service departments to large call
centres, the importance of developing a valued relationship with customers using CRM
is essential to support customer and long-term business growth.

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1.7 WHAT DO CUSTOMERS WANT?
Before we begin to create tools to measure the level of satisfaction, it is important to
develop a clear understanding of what exactly the customer wants. We need to know
what our customers expect from the products and services we provide.
Customer expectations have two types –
 Expressed
 Implied

Expressed Customer Expectations are those requirements that are written down in the
contract and agreed upon by both parties for example, product specifications and
delivery requirements. Supplier’s performance against these requirements is most of the
items directly measurable.

Implied Customer Expectations are not written or spoken but are the ones the customer
would ‘expect’ the supplier to meet nevertheless. For example, a customer would
expect the service representative who calls on him to be knowledgeable and competent
to solve a problem on the spot. There are many reasons why customer expectations are
likely to change overtime. Process improvements, advent of new technology, changes
in customer’s priorities, improved quality of service provided by competitors are just a
few examples. The customer is always right. Supplier’s job is to provide the customer
what he/she wants, when he/she wants it. Customer Service is customer’s perception
that a supplier has met or exceeded their expectations.

1.8 WHAT CONSTITUTES SATISFACTION?

We cannot create Customer Service just by meeting customer’s requirements fully
because these have to be met in any case. However failing short is certain to create
dissatisfaction

Major Attributes of Customer Service in Events & Entertainment Media industry

can be summarized as:
 Product quality
 Premium Outflow
 Return on Investment
 Services
 Responsiveness and ability to resolve complaints and reject reports.
 Overall communication, accessibility and attitude.

1.9 WHAT ARE THE TOOLS?

Customer expectations can be identified using various methods such as:

18
  Periodic contract reviews
 Market research
 Telephonic interviews
 Personal visits
 Warranty records
 Informal discussions
 Satisfaction surveys
Depending upon the customer base and available resources, we can choose a method
that is most effective in measuring the customer’s perceptions. The purpose of the
exercise is to identify priorities for improvements. We must develop a method or
combination of methods that helps to continually improve service.

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 CHAPTER – 02

THEORITICAL ASPECT

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 THEORITICAL ASPECT

2.1 CUSTOMER SERVICE SURVEYS

Formal survey has emerged as by far the best method of periodically the Customer
Service. The survey are not marketing tools but an information—gaining tool. Enough
homework needs to be before embarking on the actual survey. This includes:
 Defining Objectives of the Survey
 Design Survey approach
 Develop questionnaires and forms
 Administer Survey (Email, Telephone or Post)
 Method of compiling data and analysing the findings
 Format of the report to present the findings

There is no point in asking irrelevant questions on a Customer Service questionnaire.

The basic purpose is to find out what we are doing right or wrong. Where is the scope
for improvement, where do we stand vis-à-vis other suppliers. How we can serve the
customer better?

A Customer Service measurement survey should at least identify the following

objectives:
 Importance to customers (Customers priorities)
 Customer’s perception of supplier’s performance
 Your performance relative to customer’s priorities.

Priorities for improvement

Survey forms should be easy to fill out with minimum amount of time and efforts on
customer’s part. They should be designed to actively encourage the customer to
complete the questions. Yet they must provide accurate data should also be sufficiently
reliable for management decision making. This can be achieved by incorporating
objective type questions where customer has to “rate” on scale of say 1 to 10. For
repeated surveys, you could provide the rating that was previously accorded by the
customer. This works like a reference point for the customer.

Space should always be provided for the customers own opinions this enables them to
state any additional requirements or report any shortcomings that are not covered by the
objective questions.

2.2 WHO REALLY IS A CUSTOMER?

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The question of defining who your customers are seems fairly easy particularly if you
have segmented your market properly and understand who you are trying to
satisfy. However subtlety that frequently goes undetected by many firms is that is that
customer set can be divided into two parts, the apparent customer and the user. The
apparent customer is the person or group of people who decide what product to buy and
basically have control over the purse strings. The user is a person or group who
physically uses the product or is the direct recipient of a service.

2.3 WHAT DOES SATISFACTION REALLY MEAN?

As in defining customer above, defining satisfaction also appears simple. However as
with customer there is a subtlety that needs addressing. Satisfaction by most definitions
simply means meeting the customer’s requirement. Customer Service is a concept that
more and more companies are putting at the heart of their strategy, but for this to be
successful they’re needs to be clarity about, what Customer Service means and what
needs to happen to drive improvement. Without this, there is a risk that Customer
Service becomes little more than a good intention, with confused objectives failing to
address the real issues for customers, one helpful way to look at the problem is to
rephrase the objectives: set the sights on helping the customers meet their goals.
Customer Service can be defined in many different ways. Finding the right way for a
company depends on understanding your customer and on having a clear vision of the
role that Customer Service is to play in the strategy. For example, a focus on Customer
Service can work alongside existing segmentations to support revenue generation from
high value customers or it can be a company-wide objective rooted in the brand values.

2.4 BUILDING A COMPANY AROUND CUSTOMER SERVICE

With the increase in customer’s demands and competition it has become a lot more
important to base the entire company on customer service. When doing this one must
first realize that every member of an organization plays an active role in customer
service. This includes both external customers and internal customers within a
company. Customer focused organizations focus both on Customer Service and
profit. Achieving Customer Service generates the profit. In these organizations top
management has frequent contacts with external customers. The top management uses
consultative, participative, and supportive management styles to get through to the
customer. The staff focuses all of its attention on satisfying the customer’s needs.

22
2.5 THE INFLUENCE OF THE SALESPERSON IN CUSTOMER SERVICE
In an article titled, “The influence of salesperson selling behavior on Customer Service
with products,” Brent G. Goff and James S. Boles examine the effects of non-product
related construct on Customer Service with major retail purchases such as Events &
Entertainment Media. The article states that salesperson’s selling orientation- customer
orientation (SOCO) will affect not only consumer satisfaction with the salesperson and
dealer, but also indirectly, satisfaction with the product or manufacturer. In the
perspectives of both the retailer and the manufacturer, Customer Service represents an
important issue because it relates to several desirable outcomes. Customer Service leads
to future purchases, and repeated purchases of the same product from the same
source. In other words, it helps a firm retain its present customers and build loyalty. A
successful salesperson tailors to the needs of each individual customer.

2.6 INTERNAL MARKETING – HOW IT AFFECTS CUSTOMER SERVICE

Successful companies make every effort to ensure satisfaction to their customer by
focusing all organizational efforts of the company on providing superior customer
service. By doing this these companies hope to retain their existing customers and
attract new ones. Only angle of Customer Service commonly overlooked is the internal
aspect. The internal customer or employee plays a vital role in achieving Customer
Service and loyalty. Some firm’s do not understand that the treatment of internal
customers becomes the external customers’ perception of the company. A firm’s
employees or other departments within the organization make up its internal
customers. Their job performance affects the firm’s ability to deliver superior product
and customer service (Boone and Kurtz, 1999). When a firm’s employees are happy at
work, their overall attitude and performance towards the customer enhances
tremendously.

2.7 CUSTOMER SERVICE AS PART OF SERVICE PROFIT CHAIN

A Harvard Business Review article outlines the internal process required to drive
growth and increase profitability. The article describes the ways in which service
quality contributes to success, outlining the steps in the “Service-profit chain”:

23
Table
Profitability / Growth
Customer Loyalty
Customer Service

Value
Employee Productivity
Employee Loyalty

Internal Quality

Leadership

2.8 UNDERTAKING THE KEY FACTORS

1. Human interaction: Customer service is a task, other than proactive selling, that
involves interactions with customers in person, by telecommunications, or by mails. It
is designed, programmed and communicated with two goals in mind: operational
efficiency and Customer Service. The superiority of the product has to be
complemented with a high quality of services, which gives a competitive edge to the
organization. A high standard of service is what sets apart one organization from
another, and ultimately attracts the customer to the doorsteps. Services at the showroom
fall in the second category where there is a high complexity of interaction and hence it
becomes necessary for the personnel to be adept in responding to the customer
cognitively, emotionally and psychologically.

2. Product information: Consumers obtain information about products and services

from personal sources (friends and experts) and from the non-personal sources (mass
and selective media). When purchasing goods, consumers employ both personal and
non-personal sources since both effectively convey information about search qualities.
Mass media can convey information about search qualities but can convey a little about
experience qualities. Also, mass media cannot elaborate on the finer aspects and hence
it becomes imperative for a showroom to provide the complete information about the
product, pricing and the offers.

24
3. Time and Promptness: One of the factors, which has to match the eagerness and the
enthusiasm of the customer is quick and prompt delivery of the service. After the
customer has made a decision to go ahead with the purchase the next logical sequence
of steps would be a process the required documents, book the order, confirm the order,
inform the customer about the date of delivery and prepare the required documents for
the delivery of the vehicle.

4. Consistency: Consistency is a matter of experience. The expectation of service

grows from every experience the customer has during the sales process. For e.g., the
customer would expect the same responsiveness from the sales person during the order
processing as it was during the pre-sales, any aberration would create a sense of
insecurity and would thereby breach the bond of trust established between them.
Inconsistency in service is caused by ever changing expectations of the customer. This
poses a challenge of maintaining the quality of service in every “encounter”. The
expectations are not just related to the profile of the customer but also to the occasion
and moods, service firms find it difficult to meet the expectations of the customers all
the time without affecting the quality of service.

5. Convenience: The objective of the customer care personnel is to provide convenient

and comfortable service and not to push the customer to make the purchase. While
basic facilities are made available, the customer care personnel have to make sure that
customer doesn’t feel any inconvenience while the sales process is on. Convenience
does not only refer to the physical comforts such as seating, availability of rest rooms
etc. but also to mental convenience a in helping out the customer to reach a decision,
providing relevant information to the customer for evaluating the various options,
making sure that it is one-stop shop (additional accessories being made available like
stereo systems, reverse gear buzzers etc.) explain the basic functionally of the product
etc.

25
 CHAPTER – 03

PROJECT DETAILS

26
 PROJECT DETAILS

3.1 TITLE OF THE PROJECT:

A study of customer services in Stallion Capital Maagement

3.2 OBJECTIVES OF THE STUDY

1. To study whether the customers are satisfied with their services In Stallion
Capital Management
2. To know about the Customer preferences among Stallion Capital Management
3. To give Suggestions to improve the services
4. To study the profile of the respondents of Stallion Capital Management
5. To study the image of Stallion Capital Management among the customers

3.3 IMPORTANCE OF THE STUDY

Stallion Capital Management has customer service as one of its products, hence the
need to find out whether they really are providing that service and what ways they can
improve so as to have competitive advantage over rivals in the market. This work will
therefore provide information regarding excellent customer service and its effects on
Customer Service in the Ghanaian context. This piece will be available to the company
being researched for the management to know the perception of their customers on
services being provided to them and to help improve on service quality.
It will also benefit other business service providers to make informed decisions as far
as service is concerned. Educational institutions, corporate entities, business policy
makers and other researchers will also benefit from this research in making informed
decisions when it comes to quality customer service to satisfy the customers.

3.4 NEED FOR THE STUDY

Increasing competition, ever growing market, easy availability of the finances and
increasing population of young executives, with huge disposable incomes, over the past
few years has substantially increased the sales in the Events & Entertainment Media
industry. Also, the competition among the dealers of the products has increased with
each trying to maximize their customer base. This makes it imperative for the dealers to
provide the best of the services and exceed the customer expectations to achieve
customer delight and loyalty.

27
The study tries to understand the key service parameters and reflect upon the
dysfunctional areas, thus providing the dealer with an insight into the level of Customer
Service and changing trends of the customer expectations.

 To identify the satisfaction level of customer towards different types of service

attributes, by identifying their critical factors.
 To study about the Stallion Capital Management about their customized
services, according to the consumer’s needed.
 To study the experience and expectations of the existing customers.
 To study to improve the current standards of services.
 To study the scope of introducing new types of services.
 To study about the business tactics followed to stand against the competitors.
 To create brand awareness and find out the level of customers satisfaction
towards various services.
 To find out the major complains and suggestion from respondents.
 To know the important attributes which are of value to end users so that the
company can evaluate its marketing strategy and undertake necessary actions?
 Comparative study of services.
 To analyze the customer’s feedback towards various services.
 Find out the general opinion of respondent towards various services.
 To analyze the feedback given by customers on services.
 To observe the attitude and activities of sales people towards services.

3.5 SCOPE OF THE STUDY

The study comprises workers and customers of Stallion Capital Management due to
competition in recent times in the Stallion Capital Management the study covers
employees of the Stallion Capital Management who are always in contact with the
customers and the difficulties they face in delivering their service as well as the
customers experiences with the employees of the company. The reason why Stallion
Capital Management was selected is because the researcher first of all stays at Delhi
and saves with the company.
After sales service is a concept very much associated with sales especially in Events &
Entertainment Media industry. Four wheeler markets are increasing at a faster rate in
India. As Stallion Capital Management sales are increasing it is inevitable to know the
Customer Service, perception and also after sales service offered by Stallion Capital
Management to its customers to meet the customer expectation. The study is conducted
to know the customer perception and satisfaction towards Stallion Capital
Management .

28
  The study has been conducted for more than 45 days.
 Data would have been more accurate if the survey is done with more than 100
respondents.
 The research measures the experiences of customers.
 Defines and analyses the experiences based on key deliverables.
 Gains insights into Customer expectations.

3.6 STATEMENT OF THE PROBLEM

Doing the survey, it was really an opportunity before me when I could convert my
theoretical knowledge into practical and of real world type. Fortunately, the company I
got is a true follower of the various principles of management and also one of the
leading companies in its segment of the industry. Stallion Capital Management is one of
the renowned names in the wealth advisory firm.

The graph of sales of Stallion Capital Management is the best in the industry as
compared to their competitors. I did my training project at Stallion Capital
Management, where I found all the professionals are very much committed to their
work as well as they were all professionals enough.

The Main Problem of the statements is:

The need for the study of Doing the survey, it was really an opportunity before me
when I could convert my theoretical knowledge into practical and of real world type.
Fortunately, the company I got is a true follower of the various principles of
management and also one of the leading companies in its segment of the industry.
Stallion is a wealth advisory firm
The graph of sales of these respective service lines is the best in the industry as
compared to their competitors. I did my training project at , where I found all the
professionals are very much committed to their work as well as they were all
professionals enough.
The Main Problem of the statements is:

o The need for the study of Stallion capital taken place of consumer
perception will help the organization in determining their products as
well as promotion programs.

29
o The project work is concerned with the study of market potential and
customer services of Stallion capital management.
o It is obvious that the Stallion capital , services are used in various places
with in the country. The various features established for the Services are
more important.
o Marketing research takes very vital role in knowing and understanding
customer needs and behaviors. Keeping in view the importance of
customer services in creating and monitoring the potential and present
customers. So it made to undertake the study of the industrial profile,
especially satisfaction towards Products in various electricity boards.

CHAPTER – 04

LITERATURE REVIEW

30
 LITERATURE REVIEW

The banking sector in India has made remarkable progress since the economic reforms
in 1991. New private sector banks have brought the necessary competition into the
industry and spearheaded the changes towards higher utilization of technology,
improved customer service and innovative products. Customers are now becoming
increasingly conscious of their rights and are demanding more than ever before. The
recent trends show that most banks are shifting from a “product-centric model” to a
“customer-centric model” as customer satisfaction has become one of the major
determinants of business growth. In this context, prioritization of preferences and close
monitoring of customer satisfaction have become essential for investment firms.
Keeping these in mind, an attempt has been made in this study to analyze the factors
that are essential in influencing the investment decision of the customers of the public
sector banks. For this purpose, Factor Analysis, which is the most appropriate
multivariate technique, has been used to identify the groups of determinants. Factor
analysis identifies common dimensions of factors from the observed variables that link
together the seemingly unrelated variables and provides insight into the underlying
structure of the data. Secondly, this study also suggests some measures to formulate
marketing strategies to lure customers towards wealth advisory firms.

In present day economy, Marketing is defined as the providing of goods and services
according to the taste and preferences of the consumers at time when it is required.
Every dealership whether it is big or small, needs it’s vital for the firm to carry on its
operation and to achieve the target. The basis for marketing is information. Marketing
information is needed to project, compare and evaluate the dealers and consumers
preferences.

After duly recognizing the importance of marketing, this topic has been chosen as the
focus of project. It analyze the various facts like price, promotional aspects and
availability etc., Marketing has become a complicated job with the increase in the
number of product trades and with the changing life style of people, never a producer
directs approaches the consumers for his products and services in a same way consumer

31
will never directly knock the door of produces for his need and his wants in this or a
specified wings has to play to keep the role between their two parties to construct a
harmonious relationship.

Satisfaction is commonly understood as an individual’s feeling of delight or

disappointment resulting from comparing a product’s perceived performance (or
Outcome) in relation to his or her expectation. Thus, it is a function of perceived
performance and the buyer expectations. The three broad levels of satisfaction can be
represented by means o relation.
If
Performance < Expectation = Customer is dissatisfied
Performance = Expectation = Satisfied
Performance > Expectation = Highly satisfied

Many companies are aiming for high satisfaction because customers who are just
satisfied still find it easy to switch when a better offer comes along. In today’s
competitive world every organization is vying for reaching and maintaining its top most
position. This they believe can be achieved only if their customers are favorably
disposed towards their products or service.
Since the cost market ignorance in this competitive world is beyond compensation, the
changing situation demands the company to keep track of events happening around
them to meet their impending challenges. A company will survive only if it adopts itself
to the constant changes in this dynamic market. The ones who fail to do this would fade
out without a trace. It is again the theory of evolution “Survival of the Fittest”
meaning the one who adapts firsts will live for the years to come.

2.1. CUSTOMER
Customers could best be described as those who use the output of work, the end users
of products or services. They may be internal to the organisation such as the employees
and directors or external like members of the public, other businesses, or government
(DeiTumi, 2005). A customer is a person who buys goods or services from the service
provider. The word "custom" means "habit", a person who goes to a store on a frequent
basis to purchase their products or services, thus it is their habit to buy from that
particular store.

32
2.2. CUSTOMER SERVICE
Customer service is an organization's ability to supply their customers' wants and needs
(http://sbinfocanada.about.com). Customer service is the provision of service to
customers before, during and after a purchase. It also means serving the customer, and
involves all contact with the customer, be it face-to-face, or indirect contact (i.e. dealing
with complaint letters). Again, According to Jamier (2002), “Customer service is a
series of activities designed to enhance the level of Customer Service – that is, the
feeling that a product or service has met the customer expectation. Customer service
can be expressed in personal and interpersonal skills such as communication skills,
listening skills, language, gestures and posture, telephone techniques.

2.3. THE CUSTOMER PERCEIVED SERVICE QUALITY

Customer perceived service quality is the customers own perception of the service
based on different factors contributing to the service, from the process to the final
outcome. According to Grönroos (2001), “quality is what customers perceive”.
Customers buying service consider everything that contributes to the process and the
final outcome in making their assessments of the service. However the subjective
assessment of the actual service experiences is the customer perceived service quality
as pointed out by Looy et al (2003), Zeithaml et al (2006), and Grönroos (2001).
Suresh hander et al (2002), points out that service firms have a difficulty envisioning
and understanding what aspects of the service that define high quality to the consumers
and at what levels, they are needed to be delivered. Also, that the aspect of managing a
service interaction also requires understanding the complicated behaviour of employees
that find its way into the customers perception of the service quality.

2.4. CUSTOMER SATISFACTION

Customers perceive service in terms of quality, but how satisfied they are with the
overall experience, is what defines their satisfaction. Whether the customer is satisfied
after purchase depends on the offer’s performance or the customer service in this case,
in relation to the customer expectations. However, according to Zeithaml et al (2006)
although service quality and customer satisfaction are used interchangeably, there is
indeed a distinction. Customer Satisfaction is when the outcome of the service matches
the expectations of the service. As pointed out by Looy et al (2003), even though they

33
differ one is a component of the other. Zeithaml et al (2003) defines it as the customer’s
evaluation of a product or service in terms of whether the product or service has met his
needs or expectations.

2.5. EXCEEDING CUSTOMER EXPECTATION

Often companies and organisations claim in their publicity that they will "exceed"
customer expectations. Such phrases are often included in mission/vision/values type
statements. The message may even be shown on posters prominently displayed in shop
fronts or reception areas. Customers normally have high expectations. But it is very
rare for customer service representatives to regularly meet the expectations of
customers, let alone exceed them. Service expectations are met when customers are
provided with the right product/service, at the right quality, at the right price, every
single time. The emphasis here is on "every single time". Few questions can be asked
about regular transactions customers have. Do they receive prompt, efficient and
courteous service every time? Does the company or organisation manage busy and
quiet times equally well?

2.6. INVOLVEMENT OF CUSTOMER

In order to implement the satisfaction programs, there is the need to focus on the
involvement of the customer. The interaction between customers and service providers
is an important determinant of perceptions of service quality (Zenithal et al, 1988).
Sometimes the interaction will be largely transactional in nature but most common
interactions will be within the context of an ongoing service relationship. Retention and
improvement of performance (Reichheld and Sasser, 1990; Rust and Zahorik, 1993). If
transaction is without customer involvement, the provision of many services cannot
occur, and the way in which customers participate in the delivery process can have an
important implication for both customer and the service provider (Farquahar, 2004;
Ennew & Binks 1996). Customers who willingly participate in service delivery process
expect better quality of service for various reasons.

34
 CHAPTER - 05

RESEARCH METHDOLOGY

35
 RESEARCH METHDOLOGY

Research is defined as human activity based on intellectual application in the

investigation of matter. The primary aim for applied research is discovering,
interpreting, and the development of methods and systems for the advancement of
human knowledge on a wide variety of scientific matters of our world and the universe.
It is exploratory and often driven by the researcher’s curiosity, interest, and intuition. It
is conducted without any practical end in mind, although it may have unexpected
results pointing to practical applications.
TYPES OF RESEARCH:
To accomplish the objective of the study, descriptive research design is adopted
to collect the data from the consumers of the different brands. Descriptive research
simply describes things such as demography characteristics of consumers who use the
product. The descriptive study is typically concerned with determining frequency with
which same thing occurs. This study is typically guided by initial hypothesis.
DATA COLLECTION METHODS:
For any research these two types of data are necessary:
1. Primary data
2. Secondary data
Primary Data:
For this project the primary data is collected in four ways:

Through observations, Through discussion ( Department Heads &

Executives), Through questionnaires and Through Sampling procedure

Secondary Data:
The secondary data is collected from various sources available with in the
organization like Organizational web site, Company Past records, Library books,
Internet, Annual reports, Consulting administrative staff and from Consulting
marketing Managers

SAMPLING:
“Sampling may be defined as the selection of an aggregate or totally on the
basis of which a judgment of reference about the aggregate of totally is made.

36
“Sampling is used in conducting surveys and in studying various problems
concerning production management, time and motion studies, market research,
various areas of accounting and finance and the like.
 Sample size:
For the project 50 customers were taken into consideration and they are
selected on the random basis.
 Method of sampling:
The method of sampling, which selected, is “non probability convenience
sampling “. In this method the sample insights are chosen primarily on basis of my
convenience.
The sample technique adopted for carrying out the survey is stratified
random.

STATISTICAL TOOLS:
Statistical techniques are to obtain findings and average information in
logical sequence from the raw data collected. After tabulation of data research
have used the following quantitative technique.
 Percentage analysis
 Charts

 PERCENTAGE ANALYSIS
Percentage refers to special kind of ratio. This method is used as making
comparsion between two or more services of data. Persenatage are used to decidable
relationship. Persentage can also used to compare thge relative terries, the distribution
of two or more services of data
 CHARTS
Bar charts and pie charts are used to get a clear look at the tabulated data.

37
 CHAPTER – 06

COMPANY PROFILE

38
 COMPANY PROFILE

Stallion is a wealth advisory firm. It is India's one of few

"Multi Family Office Firm" founded by members having
decade of experience in the field of financial domain.
Stallion was operates out of two offices at New Delhi &
Bengaluru (Soon to start operation in pune, Lucknow and
Hyderabad).
The foundation of Stallion was guided by a single minded
client centric approach.
Its model has been developed keeping in mind the very
needs of a client. Stallion's unique selling point is that it
brings all the investment of client under one roof and that
being guided by Unique IPS (Investment Policy
Statement). In other words a Stallion treat every client as
unique and provides solution based on client need,
financial position and circumstances.
Over time the acceptance of Stallion's financial planning
tools by private clients at large and the goodwill that it has
generated in the Private Wealth Industry continues to be
the source of energy for its growth. Today Stallion serves
the needs of Middle and Senior level professional,
Entrepreneurs, Businessman / Woman, Budding Investors.
Currently stallion is working closely with 330 HNI
families and managing their portfolio of insurance.
Mutual fund and real estate. The ratio of 25 clients per
adviser guarantees full focus and personalised touch to
each clients from Stallion.

39
 BRIDGES THE FINANCIAL GAPS
WE MANAGE BETTER + WE ADVICE + WE HELP OUR
CLIENTS ACHIEVE FINANCIAL INDEPENDENCE

It work with successful people at different stages of their lives

and provide them with the expert strategic financial advice they
require to achieve, or maintain financial independence.
The clients want to take control of their financial future and we
help them achieve this goal. By leveraging company’s expertise
to create and implement a strategic financial roadmap we can
assist them to protect, grow and manage their wealth.

40
The comprehensive wealth management services are free for their
clients to pursue their dreams and delegate the task of efficiently
managing their wealth to company, which is a product of trust
because delegation is a follower of faith and trust.
Though, to many this is easier said than done, but the company’s
focused intentions and understating of the wealthy families in
India and the need for reliable private advisor in India has helped
them realize their dream of building an admirable Wealth
Management Practice.

CHAPTER - 07

CONSUMER BEHAVIOR

41
 CONSUMER BEHAVIOR

7.1 THE PSYCHOLOGY OF MARKETING

The study of consumers helps firms and organizations improve their marketing
strategies by understanding issues such as how

 The psychology of how consumers think, feel, reason, and select between
different alternatives (e.g., brands, products, and retailers);
 The psychology of how the consumer is influenced by his or her environment
(e.g., culture, family, signs, media);
 The behavior of consumers while shopping or making other marketing
decisions;
 Limitations in consumer knowledge or information processing abilities
influence decisions and marketing outcome;
 How consumer motivation and decision strategies differ between products that
differ in their level of importance or interest that they entail for the consumer; and
 How marketers can adapt and improve their marketing campaigns and
marketing strategies to more effectively reach the consumer.

One "official" definition of consumer behavior is "The study of individuals, groups, or

organizations and the processes they use to select, secure, use, and dispose of products,
services, experiences, or ideas to satisfy needs and the impacts that these processes
have on the consumer and society." Although it is not necessary to memorize this
definition, it brings up some useful points:

 Behavior occurs either for the individual, or in the context of a group (e.g.,
friend’s influence what kinds of clothes a person wears) or an organization (people
on the job make decisions as to which products the firm should use).
 Consumer behavior involves the use and disposal of products as well as the
study of how they are purchased. Product use is often of great interest to the
marketer, because this may influence how a product is best positioned or how we
can encourage increased consumption. Since many environmental problems result

42
 from product disposal (e.g., motor oil being sent into sewage systems to save the
recycling fee, or garbage piling up at landfills) this is also an area of interest.
 The impact of consumer behavior on society is also of relevance. For example,
aggressive marketing of high fat foods, or aggressive marketing of easy credit, may
have serious repercussions for the national health and economy.

7.2 APPLICATIONS OF CONSUMER BEHAVIOUR

There are four main applications of consumer behavior:

1. MARKETING STRATEGY: The most obvious is for marketing strategy—i.e., for

making better marketing campaigns. For example, by understanding that
consumers are more receptive to food advertising when they are hungry, we learn
to schedule snack advertisements late in the afternoon. By understanding that
new products are usually initially adopted by a few consumers and only spread
later, and then only gradually, to the rest of the population, we learn that
companies that introduce new products must be well financed so that they can
stay afloat until their products become a commercial success and it is important
to please initial customers, since they will in turn influence many subsequent
customers’ brand choices.

2. PUBLIC POLICY: A second application is public policy. In the 1980s, Accutane, a

near miracle cure for acne, was introduced. Unfortunately, Accutane resulted in severe
birth defects if taken by pregnant women. Although physicians were instructed to warn
their female patients of this, a number still became pregnant while taking the drug. To
get consumers’ attention, the Federal Drug Administration (FDA) took the step of
requiring that very graphic pictures of deformed babies be shown on the medicine
containers.

3. IDEAS: Social marketing involves getting ideas across to consumers rather than
selling something. Marty Fishbein, a marketing professor, went on sabbatical to work
for the Centers for Disease Control trying to reduce the incidence of transmission of
diseases through illegal drug use. The best solution, obviously, would be if we could
get illegal drug users to stop. This, however, was deemed to be infeasible. It was also
determined that the practice of sharing needles was too ingrained in the drug culture to

43
be stopped. As a result, using knowledge of consumer attitudes, Dr. Fishbein created a
campaign that encouraged the cleaning of needles in bleach before sharing them, a
goal that was believed to be more realistic.

4. BETTER CONSUMERS: As a final benefit, studying consumer behavior should

make us better consumers. Common sense suggests, for example, that if you buy a 64
liquid ounce bottle of laundry detergent, you should pay less per ounce than if you
bought two 32 ounce bottles. In practice, however, you often pay a size premium by
buying the larger quantity. In other words, in this case, knowing this fact will sensitize
you to the need to check the unit cost labels to determine if you are really getting a
bargain.

7.3 PROVIDING WHAT IS KNOWN AS CONSUMER VALUE

Moving ahead we first define the term consumer value as: Consumer value is defined
as the ratio between the customer’s perceived benefits (economic, functional and
psychological and the resources (monetary, time effort, psychological) used to obtain
those benefits.

A SCHEMATIC REPRESENTATION IS AS SHOWN BELOW:

7.4 UNDERSTANDING THE CUSTOMER EXPECTATION:

How do buyers form their expectations? Based on a general study conducted in this
field of analyzing the buying pattern it is understood that Customers expectations finds
its evolution from the past buying experience, friends’ and associates’ advice, and

44
marketers’ and competitors information and promises. If marketers create a high degree
of expectancy, the buyer is likely to be disappointed. Conversely, if the company sets
expectations too low, it fails to attract enough buyers (although it might satisfy those
who do buy).
The achievement of a strong Customer Service is closely related to the understanding
customer needs and expectations (William and Bertsch, 1992). According to the Kano
Model (2001), customer needs can be divided into:
 Basic needs – obvious needs of customers and if not met, he is dissatisfied,
however meeting this needs may not be enough for Customer Service. Its
satisfaction results in “must be quality”.
 Expected needs – these are important needs that customers are fully aware of
and satisfaction is expected in every purchase; their satisfaction creates
“expected quality”.
 Excitement needs – these are unconscious and unspoken needs of customers. By
identifying and satisfying such needs, companies will have added large value to
customers and can win loyal customers. This satisfaction creates “attractive
quality”.
With this aforementioned literature, it is noted that customers purchase services based
on their needs and have expectations that the purchased services will meet their needs.
Customers in turn assess the service performance in accordance to how well it meets
their expectations. Although, customer expectation is not a focus of this study, however
satisfaction measurement is useful to understand customer expectations (since most
times assessment is done by customers based on past experiences and future beliefs of
service performance).

7.5 CUSTOMER SATISFACTION

Customer satisfaction is the individual’s perception of the performance of the products
or service in relation to his or her exceptions. Customers usually will have drastically
different expectations.
The concept of customer satisfaction is the function of customer expectations. A
customer whose experience falls below expectations will be dissatisfied and customer
whose expectations are exceeded will be highly satisfied or delighted.

45
The research indicates that there are rewards for having satisfied customers which is
depicted as below:

7.6 SATISFIED CUSTOMERS

CUSTOMERS TO PURCHASE FROM YOU

(As long as nothing better comes along)

ARE LIKELY TO PROVIDE YOU WITH 3 TO 5 REFERRALS OVER THEIR

LIFETIME OR PURCHASING

UNDERSTANDING THE CONSUMER BASED ON VARIOUS PERSONALITY

TYPE:
Marketers are interested in understanding how a difference in personality influences
consumption behaviour because such knowledge enables them to understand consumer
and to segment and target those consumers who are likely to respond positively to their
product or service communications.

7.7 ATTRACTING CUSTOMERS

Today’s customers are becoming harder to please. They are smarter, more price
conscious, more demanding, less forgiving and they are approached by many more
competitors with equal or better offers. The challenge, according to Jeffrey Gitomeris
not to produce satisfied customers but to produce delighted and loyal customers.
Companies seeking to expand their profits and sales have to spend considerable time
and resources searching for new customers. To generate leads, the company develops
ads and places them in media that will reach new prospects; it sends direct mails and
makes phone calls to possible new prospects; its sales person participate in trade
choice where they might find new leads; and so on. All this activity products a list of
suspect. The next task is to identify which suspects are really good prospects.

7.8 CUSTOMER RETENTION:

46
The over objective of providing value to customers continuously and more effectively
is because the competitors also to try to acquire highly satisfied ( Even delighted)
customers ; the organization’s strategy of customer retention makes in the best interest
of customer to stay with the company rather than switch to another firm. In almost all
business situations it is more expensive to win new customers than to keep the existing
ones. Studies have shown that small reductions in customer defections produce
significant in profits because of the following reasons.
1. Loyal customers buy more products
2. Loyal customer are less price sensitive and pay less attention to competitors
advertising
3. Servicing existing customers, who are familiar with the firms offering and
processes, is cheaper.
4. Loyal customers spread positive word or mouth and refer other customer.
Further, more, marketing efforts involved in attracting new customers is
expensive, rather in saturated markets, it may be impossible to find new customers.

7.9 POST PURCHASE SATISFACTION

What determines whether the buyer will be highly satisfied, somewhat satisfied, or
dissatisfied with the purchase? The answer to this question can be given as: buyer
satisfaction is the function of the closeness between the buyer’s expectation and the
products perceived performance.
Consumers from their expectation on the basis of messages received from sellers,
friends and other source that give information for instance even a sales promotion offer.
As the gap between the expectations and performance becomes larger and larger the
greater is the consumer dissatisfaction. This is where the consumer’s coping style
comes in to play. Some consumers magnify the gap when the produce is not perfect,
and they are highly dissatisfied, others minimize the gap and are less dissatisfied.

The importance of studying the post purchase satisfaction suggests that the product
names must truthfully represent the product’s likely performance. Some seller’s might
even understate performance levels, so that consumers experience higher – than –
expected satisfaction with their product.

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Customers Satisfaction is the critical strategic weapon for any enterprise as we move
towards the 21st century. The message is simple:
Customer Service is so powerful that it can be quantified. Customer Service deals with
data, nor theory, and there is a beauty of data:
If we can define it we can measure it
If we can measure it we can analyze it
If we can analyze it we can control it
If we can control it we can improve it

7.10 PERCEIVED VALUE

Perceived value is defined as “the results or benefits customers receive in relation to
total costs (which include the price paid plus other costs associated with the purchase)
or the consumers' overall assessment of what is received relative to what is given”
(Holbrook,1994 and Zeithaml, 1988).
Additionally, Zeithaml (1988) found out that customers who perceive that they receive
value for money are more satisfied than customers who do not perceive they receive
value for money.
Several studies have shown that perceived value is significant determinant of Customer
Service (Anderson et al. (1994); Ravald and Gronroos (1996); and McDougall and
Levesque, 2000). Turel and Serenko (2006) in their investigation of mobile services in
Canada suggested that the degree of perceived value is a key factor affecting Customer
Service. Past research studies suggested that there are four features, which are key
drivers of the customer value of cellular services: network quality, price, customer care,
and personal benefits (Booz, Allen & Hamilton, 1995, Danaher & Rust, 1996; Bolton,
1998; Gerpott, 1998; Wilfert, 1999).

 The network quality refers to excellent indoor and outdoor coverage, voice
clarity, and no connection breakdowns.
 Price refers to what is paid to obtain access to use the network.
 Customer care refers to the quality of the information exchanged between
customer and supplier or network provider in response to enquiries and other
activities initiated by the network provider, for example presentation of
invoices.

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 Personal benefits refer to the level of perception of the benefits of mobile
communications services by individual customers.

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7.11 SERVICE QUALITY
Another factor that contributes to satisfaction is service quality. Service quality is
defined as “the difference between customer expectations and perceptions of service”
or “as the customers’ satisfaction or dissatisfaction formed by their experience of
purchase and use of the service” (Gronroos, 1984 and Parasuraman et al.1988). Oliver
(1993) reported that service quality is a casual antecedent of Customer Service, due to
the fact that service quality is viewed at transactional level and satisfaction is viewed to
be an attitude. Dabholkar et al. (1996) and Zeithaml et al. (1996) reported that the
service quality divisions are related to overall service quality and or customer
satisfaction. Fornell et al., (1996) expressed that satisfaction is a consequence of service
quality.
Parasuraman et al. (1988) identified five dimensions of service quality (SERVQUAL)
that must be present in any service delivery. SERVQUAL helps to identify clearly the
impact of quality dimensions on the development of customer perceptions and the
resulting customer satisfaction. SERVQUAL include:
 Reliability - the ability to perform the promised services dependably and
accurately.
 Responsiveness - the willingness to help customers and provide prompt service.
 Assurance - the knowledge and courtesy of employees as well as their ability to
convey trust and confidence.
 Empathy - the provision of caring, individualized attention to customers, and
 Tangibles - the appearance of physical facilities, equipment, personnel and
communication materials.

7.12 INTERNAL SATISFACTION

Research works have shown the importance and the link of internal (employee)
satisfaction to the external (customer) satisfaction. Hill and Alexander (2000) stated
that there is a positive relationship between employee satisfaction and customer
satisfaction and this is achieved in companies that practice employee motivation and
loyalty. They reported that “employees that are more motivated to achieve customer
satisfaction tend to be more flexible in their approach to their work, make fewer
mistakes and use more initiative”. Fečiková (2004) conducted studies on the index
method for customer satisfaction measurement with chairs in Slovakia and reported that

50
the satisfaction of internal customers is one of the basic factors to satisfy the external
customer. Thus, she suggested that employee motivation and loyalty can be achieved
through:
 Daily leadership – Top management officials motivate others through their
performance.
 Top management communicates their expectations to the employees.
 Development of competencies – feedback on employee’s performance, work
efforts, opportunity for development and improvement of competencies.
 Corporation and employee retention, and
 Good working conditions

7.13 COMPLAINT MANAGEMENT

Albrecht and Zemke (1985) found that of the customers who register complaints,
between 54% and 70% will do business again with the company if their complaints are
resolved. This figure increases to 95% if the customer feels that the complaint was
resolved promptly. Customers who have complained to a company and had their
complaints satisfactorily resolved tell an average of five people about the good
treatment they received. Hart, et al., 1990, reported that when the service provider
accepts responsibility and resolves the problem when customers complain, the
customer becomes “bonded” to the company.
In summary, the relevance of this sub-section to this study is to:
 Better understanding that customer’s access service performance based on their
past experiences, benefits received, service quality and how well queries and
complaints are treated. Thus, Customer Service with the mobile services in
Nigeria will be assessed based on network quality, billing, validity period and
customer care support and the following hypotheses are adopted:
 Nigerian customers are satisfied with the mobile telecoms industry
 There is a strong relationship between network quality and Customer
Service
 There is a strong relationship between billing and Customer Service
 There is a strong relationship between validity period and Customer
Service

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  There is a strong relationship between customer care support and
Customer Service
 There is a strong relationship between network quality, billing, validity
period, customer care support and Customer Service

7.14 CUSTOMER LOYALTY

Coyne (1989) stated that Customer Service has measurable impact on customer loyalty
in that when satisfaction reaches a certain level; on the high side, loyalty increases
dramatically; at the same time, when satisfaction falls to a certain point, loyalty reduces
equally dramatically. Yi (1990) expressed that the impact of Customer Service on
customer loyalty by stating that “Customer Service influences purchase intentions as
well as post-purchase attitude”. In other word, satisfaction is related to behavioural
loyalty, which includes continuing purchases from the same company, word of mouth
recommendation, and increased scope of relationship.
Fornell (1992) found out that there is a positive relationship between Customer Service
and customer loyalty but this connection is not always a linear relation. This
relationship depends on factors such as market regulation, switching costs, and brand
equity, existence of loyalty programs, proprietary technology, and product
differentiation at the industry level.

7.15 CUSTOMER PROFITABILITY

Research studies conducted by Gale (1992) and Fornell (1992) showed that higher
Customer Service translates into higher than normal market share growth, the ability to
charge a higher price, lower transaction costs, and a strong link to improved
profitability. Nelson et al., (1992) also demonstrated that Customer Service is related to
higher profitability and proved his findings statistically. Anderson et al., (1994) found a
significant association between Customer Service and accounting return on assets.
Ittner and Larckner (1996) found that shareholder value is highly elastic with respect to
Customer Service. Fornell et al., 1996, found out that Customer Service is significantly
related to firms’ financial performance.

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 CHAPTER – 11

SUGGESTIONS AND RECOMMENDATIONS

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 SUGGESTIONS AND RECOMMENDATIONS

 The Firm can post a list of services that they are rendered to the customers
inside the office Premises.
 And they can post demo of all these services in their Company’s website.
 The Stallion capital management can concentrate on customer complaints
handling.
 Company can also send a post to there customers by informing there services
and how to proceed with that and all details they can mention it in the post.
 Fair dealing with the customers. More contribution from the employee of the
Company. The staff Should be co-operative, friendly and must be capable of
understanding the problems of customers.
 Prompt dealing with permanent customers and speedy transaction without
harassing the customers.
 Each section of the firm should be computerized even in rural areas also.
 Real time gross settlement can play a very important role..
 Stallion should bring out new schemes at time-to-time so that more people can
be attracted. Even some gifts and prizes may be offered to the customers for
their retention...
 Customers generally complain that full knowledge is not granted to them. Thus
the firm should properly disclose the features of the services to the customers.
The need of the customer should properly be understood so that customer feels
satisfied. The relationship value should be maintained.
 The branch should promote cooperation and coordination among employees
which help them in efficient working.
 Maintenance of proper hierarchy should be done. A good hierarchy set up can
ensure better results within the firm.

Investment sector is improving by leaps but still it needs to be improved. Proper and
efficient relationship staffs having knowledge for one stop Investments, customer
friendly atmosphere.

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CHAPTER – 12

CONCLUSION

55
 CONCLUSION

One reason why Stallion Capital Management has lagged in market cap despite its size
has been its inability to unlock value from its various businesses. However, there are
signs that this is changing and the firm is making attempts to realize the value of its
investments in the life insurance and asset management business.

The customers now days are not only exposed of what type of service is being
provided by Investment firms in India but in the world as a whole. They expect much
more than what is actually being provided. So the now coming days Stallion Capital
Management have to provide and cater to all the needs of the customers otherwise it is
difficult to survive in the competition coming up.

They not only expect the safety of money but also best ways to invest that money
which need to be fulfilled. Stallion Capital need to have a better outlook towards to
actually what customers are requiring. Entries of the private sector firms have made the
competition tougher. If a firm is not functioning properly it is being closed. So it is
difficult to face these types of conditions. Here a simple philosophy can work that
customers are God and we need to follow this to survive and serve better.

The Stallion Capital Management is poised for explosive growth. In this, scenario, it is
imperative that Firms adopt technology at an aggressive Pace, if they wish to remain
competitive. Money makes a case for these investment firms to outsource their
technology infrastructure requirement, thus enabling early adoption and increased
efficiencies.

In the prevailing scenario, a number of Investment firms have adopt a new

development strategy of infrastructure outsourcing, to lower the cost of service
channels. As a result, other firms too will need to align their reinvented business
models. The required changes at both the business and technology levels are
enormous. In a highly competitive investment market, early adopters are profiting
from increased efficiencies.

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 CHAPTER - 13

LIMITATIONS OF STUDY
&
SCOPE FOR FURTHER RESEARCH

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13.1. LIMITATIONS OF STUDY
The following were the limitations faced during the course of the study:
 The study was limited to a particular branch of Stallion capital management
NSP.
 The time constraint was one of the major problems
 The lack of information sources for the analysis part

13.2. SCOPE FOR FURTHER RESEARCH

The present study on Customer Perception and Satisfaction helps to get clear picture
about the factors which satisfied the customers. This in turn helps the management to
formulate suitable policy to motivate the customers. Hence, the satisfaction level of the
customers may also change. The factors that satisfied the customers may change with
change in time because the needs of customers also change with change in time. So
continuous monitoring and close observation of factors that satisfied and motivate the
customers is necessary to maintain a competent work force. Only with a competent
work force an organization can achieve its objective. Moreover, human resource is the
most valuable asset to any organization. A further study with in dept analysis to know
to what extent these factors satisfied and motivate the customers is required. Since the
future phase was to be adopted after finding out the important factors relating to this
market, a sincere attempt is made to elicit the above information’s. Thus there are lots
of scopes for further study of customer perception and satisfaction towards Stallion
capital management.

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ANNEXURE

59
REFERENCES

BOOKS:
 Kothari C.R. (1990) Research Methodology: Method and Techniques; Wishva
Prakashan, New Delhi.
 Bodie.Z, Kane.A & Mracus. J : Essentials of Investments.
 Prof. E Gordon & Dr. K. Natrajan “Banking Theory Law and Practice”.
 “Indian financial System & Commercial Banking” by Khan Masood Ahmed
 “Banking in India” by P.N.Varshney

MAGAZINS:
 Business World
 Business Today
 The Smart Manager

WEBSITES:
 www.google.co.in
 www.wikipedia.com
 www.economictimes.com
 www.centurionbop.co
 www.stallioncap.com
 www.iba.org.in
 www.knowledgestom.com

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