A study on CMS in Personal Loan

1

CHAPTER 1 INTRODUCTION

1.1

INTRODUCTION OF THE STUDY

Customer Experience Management (CEM) allows an organization to understand what customers know about the organization. With a clear understanding of what customers know about an organization and how they form those opinions, management can immediately act on and leverage opportunities. Executives, managers, and supervisors can quickly shift resources and business strategy. And, customer facing employees can directly and easily influence customer behavior. CEM is the missing link to improving profitability - it is a profit-based approach to managing customer interactions, operations, and customer relationships.

This document defines CEM and its elements. It explains customer experience states and why they are important. Lastly, it discusses how CEM works in an organization and the tangible benefits that are realized in contact center operations, marketing, sales, and other customer-facing organizations. With every customer interaction, regardless of the channel or the nature of the interaction, the customer learns something about the company. Collecting, reporting, and incorporating customer experiences across all channels of interaction in a manner that business opportunities can be identified and acted upon is what CEM is all about. Tapping into what a customer thinks, feels, wants, and experiences is a valuable and powerful key to improving profitability in any organization. There are four key elements that CEM must include in order for information to be valid and actionable

2

1.

Customer

experience

information

must

be

customer-driven,

collected

immediately, and in context of the customer experience using the same channel as the interaction. There is no value in collecting customer experience information after a brief period of time or outside of the context of the original interaction.

2.

Customer experience information must be collected across all customer interaction types: telephone, Web, email, chat, - and even person-to-person interactions if,

3.

Customer experience information must be reported and accessible not only collectively, but also at its most granular level. Otherwise, information is not actionable at the customer experience driver levels. Detailed reports regarding specific products, transaction types, and processes need to be processed and presented accurately. Detail regarding how individuals, teams, and organizations are affecting customers or customer types must also be accurate and available – including the ability to review specific, important transactions.

4.

Reports, analytics, and required actions to leverage opportunities and influence profitability must incorporate existing company information and objectives — and be available across the organization immediately. There is nothing more accurate, or as effective, as collecting information directly from the customer immediately and in context of their interactions.

The combination of CEM with company information and objectives not only delivers faster and more accurate predictive analysis, business intelligence, and opportunity data; it also fosters customer loyalty and satisfaction. It creates a charged customer-centric culture that considers internal measures, profiles, and objectives relative to actual customer experiences — a powerful combination.

3 INTRODUCTION TO THE PROJECT

Customer Experience States

Customer Experiences can be categorized into three unique states. The state of the customer experience has implications on the type of information to communicate with and collect from customers.

The three states of Customer Experience are: Normal Experience, Critical Experience, and Unique Experience positive profitability consistency support and touch points channels.

Normal Experience interactions reinforce existing perceptions and promote customer loyalty and retention, particularly in the early stages of the relationship. The keys to an effective Normal Experience strategy are education, competence and consistency.

Education influences expectations, helping customers develop a realistic range of tolerance early in the relationship. While educational efforts influence the expectations of new customers, competence and consistency validate those expectations. Critical Experience interactions are service encounters that lead to memorable customer experiences. Unique Experience interactions are intended to increase customer profitability by leveraging change opportunity through up-selling and cross-selling.

4

CEM captures customer experience information across all customer touch points and feeds it back to the organization so that action can be taken to improve profitability. At the beginning or end (or both) of an interaction, and within context, the customer is invited (automatically or manually) to provide their perspective short questions. Done properly, this process will result in better than 80% customer participation and have a measurably positive effect on customers the experience information is collected within context of the interaction. The questions that are delivered to the customer are specific to that interaction type; the people, products, and processes that were a part of the interaction; and the customer. The questions are also conditional in nature and facilitate both quantitative as well as qualitative experience information.

CEM accesses existing CRM data, productivity metrics, and incorporates key information related to customer behavior and profitability. Information such as complaint and resolution rates, customer segments, etc. are all combined with customer experience information and analyzed/reported in real-time. The strength of a CEM system is in its

5 ability to continually align company performance with customer needs and behaviors, enabling companies to make effective, correct, and critical day-to-day adjustments in resource allocation and execution — as well as enterprise-wide shifts in strategy.

Personal loan help us to take care of our immediate requirements without much of a hassle. The most attractive features of the personal loan to that we do not have to give any kind of security to avail this loan.

No security/collected No Guarantors

The maximum amount of Ph which we are eligible depends on net delay fake home. Loans tenue various from 1 to 5 years. Since personal loans do not require any security the interest rate charged are high.

1.2 INTRODUCTION TO THE INDUSTRY

Consumer finance refers to the activities involved in granting credit to consumers to enable them posses own goods meant for everyday use. It is known by several names such as credit merchandising, deferred payments, installment buying, and hire purchase pay-out-of income scheme, pay-as-you earn scheme, easy payment, credit buying installment credit plan, etc.

6 Types of Consumer Finance

There are several types of credit facility available to consumers. They are briefly discussed below:

Revolving credit

An on- going credit arrangement similar to a bank overdraft, whereby the financier, on a revolving basis, grants credit is called ‘revolving credit’. The consumer is entitled to avail credit to the extent sanctioned as the credit limit. An ideal example of revolving credit is credit cards.

Fixed Credit

It is like a term loan whereby the financier provides loan for a fixed period of time. The credit has to be squared off within a stipulated period. Examples of fixed credit include monthly installment loan, hire purchase, etc.

Cash Loan

Under this type of credit, banks and financial institutions provide money with which the consumers buy articles for personal consumption. Here, the lender and the seller are different. The lender does not have the responsibilities of a seller.

7 Secured Finance

When the credit granted by a financial institution is secured by collateral, it takes the form of ‘secured finance’. The collateral is taken by the creditor in order to satisfy the debt in the event of default by the borrower. The collateral may be in the form of personal property, real property or liquid assets.

Unsecured Finance

When there is no security offered by the consumer against which money is granted by financial institutions it takes the form of ‘unsecured finance’.

SOURCES OF CONSUMER FINANCE

The various sources of consumer finance available to people are discusse below

Traders

The predominant agencies that are involved in the provision of consumer finance are traders. They include sales finance companies, hire purchase and non-banking financial institutions (NFC).

8 Commercial Banks

Commercial banks have taken keen interest in providing, directly or indirectly the finance for consumer durables. Banks lend large sums of money at ‘wholesale’ rates to commercial or sales finance companies. Hire purchase concerns and other such financial intermediaries. Recently, banks have also started directly financing consumers through personal loans, which are meant for purchasing consumer durable goods. Personal loans are granted without a security.

Credit card institutions

Credit card intuitions arrange for credit purchase of consumer articles through the respective banks which issue the credit cards. The credit card system enables a person to buy goods and services on credit.

Non-banking finance companies

Non-banking finance companies constitute another important source of consumer finance. Consumer finance companies, also known as small loan companies, personal finance companies or licensed lenders, are non-savings institutions whose prime assets constitute sale-finance receivables, personal cash loans to consumers, short and intermediate term business receivables, etc. These finance companies charge substantially higher rates of interest than the market rates.

9 Credit unions

A credit union is an association of people who agree to save their money together and in turn provide loans to each other at relatively lower rates of interest. These are called co-operative credit societies in India.

Consumer Finance Practice in India

A popular form of consumer financing in India is ‘installment credit’. There are various forms of consumer credit granted by finance companies and dealers. In the case of ‘over-the-counter’, one-to-one or walk-in’ financing, credit is granted directly to individuals or institutional funding agencies such as co-operatives. Dealers and finance companies are directly involved in this type of financing. When a large number of consumers are financed, institutional funding is involved. In this case, the financier disburses the finance in tranches through the employer or the co-operative societies. The loan installment is deducted from the salary of the employers.

Products covered

Consumer financing in India covers a wide range of products such as cars, TVs, washing machines, refrigerators, geysers, air-conditioners, computers, etc. The products which are covered posses some direct features as the specified identity, durability substantiality, responsibility, safety, serviceability and reparability of the products. An important feature of consumer credit in India is the system of sales tax levied on the sales of products by hire purchase or installments.

10 TERMS OF FINANCE

The terms and conditions for consumer financing are as follows:

1.

Eligibility

2.

Guarantee

3.

Tenure

4.

Rate of interest

5.

Other charges

6.

Mode of payment

7.

Credit evaluation

1.3 INTRODUCTION TO THE COMPANY

1.3.1

CitiFinancial in India

Citigroup opened its first office in India in 1992. Since then they become one of India's most diverse and recognized financial service providers operating in 25 offices and branches across 18 cities. Citigroup India has 5,000 employees nationwide. Its operations encompass a premier global corporate and investment bank and a wellestablished consumer business under the Citibank and CitiFinancial brands. The global corporate and investment banking group provides a comprehensive range of financial services including treasury management, transaction services, securities custodianship, foreign exchange, fixed income and equities sales and trading, and corporate finance to corporate clients, governments and financial institutions. Citibank India is the country's leading retail bank with a history of innovation and customer service. Today they are the largest issuer of credit cards and offer mortgages, personal loans, insurance, and investment services for on-shore customers. Citibank India also provides banking

11 services to the international Indian community in 23 cities around the world. Citigroup is one of the Fortune 500 companies in India and it is the second largest foreign bank in India.

City group is one of fortune 500 companies in India and it is the second largest foreign bank in INDIA. CitiFinancial, a member of Citigroup, is the world's largest financial services provider. They have more than 300 branches across India to meet public face to face. They listen to people’s needs and help them find the right solution. With their vast network in India, they are ready to help them find an appropriate financial solution. They believe in building lasting relationships with their customers. Their staffs in the branches are from the neighbourhood enabling them to be more empathetic to their customers.

Founded in 1912, CitiFinancial has learnt that there is no one-size-fits-all approach to helping people manage their money and their debt. CitiFinancial loans offer consumers a chance to improve their quality of life, while also improving their credit. Once a solid credit history is established, the door to opportunity opens much wider.

CitiFinancial’s more than 13,000 employees play an active role in the communities where they live and work. Volunteerism and financial support to community-based non-profits through Citigroup Foundation grants are part of the CitiFinancial way of life. Financial education is a natural extension of what CitiFinancial and its parent company, Citigroup, do every day. They support financial education because they believe access to investment products and capital can raise the quality of life for individuals and families and strengthen communities around the world. But capital must be used responsibly and wisely, and good financial information can help people make the most of their money.

12 Each year, CitiFinancial educates thousands of consumers about the types of finance available to them, both through one-on-one discussions in their branches and through work with consumer advocacy organizations. In addition, when making loans or offering optional insurance or other products, they make sure those consumers understand their loan agreements by clearly and prominently displaying the terms of the products in CitiFinancial loan documents, literature, through signage in the branch, and in verbal statements.

1.3.2

Product Profile

The Product Spectrum of CitiFinancial Consumer Finance India Limited is as follows,

 Personal Loans,  Home Loans, and  Sales Finance

Personal Loans

Features of CitiFinancial Personal Loan:

 Loans for salaried and self-employed individuals  Easy documentation  No Security needed  No guarantors  Quick processing

13  Cash up to Rs. 2 Lakh and repayment through Easy Monthly Instalments 1.4 REVIEW OF LITERATURE

Consumer Loan Interest Rates

By, Charles Kahn, George Pennacchi and Ben Sopranzetti, March 2001

The recent wave of bank mergers has raised concern with its effect on competition. This paper examines the influence of concentration and merger activity on consumer loan interest rates. It uses Bank Rate Monitor, Inc. survey data on loan rates quoted weekly by large commercial banks in ten major U.S. cities during the 1989 to 1997 period. The pricing behavior of banks is analyzed for two types of loans: new automobile loans and unsecured personal loans.

Credit Adjudication and Lending Management System for Finance Companies By, White Clarke North America CALMS is a Web-enabled suite of components and products that support and enhance the originations, decisions and document management process of finance companies. It automates front office lending and leasing processes for more accurate, reliable and manageable origination operations, and makes it easier to decide how and to whom you extend credit.

14 Putting the Customer Back in Customer Service: Three Principles for Customercentric Support By, InQuira, Inc. Despite decades of investment, companies and customers are out of alignment in terms of what constitutes effective service. Adopting the principles of customercentricity, presented in this paper, in your customer service and knowledge management practices will lead to an alignment of customers' expectations with corporate objectives. Control the Customer Experience - Improve Marketing, Sales, and Service Processes with TechExcel CRM By, TechExcel, Inc. In today's extremely competitive Internet economy it is more important than ever for companies to fully embrace new technology to optimize their business processes. Find out how TechExcel's CRM incorporates The Active Customer model for the three core business groups - employees, customers, and partners. Back to the Basics for the Next Innovation in Customer Service By, InQuira, Inc. Most executives claim that CRM is critical to their businesses, but in the next breath admit they find it difficult to quantify its value. Read why, when combined with a real-time understanding of a customer's current problem, the contextual information that CRM systems collect can be essential in delivering the most effective service experience.

15 Putting the Customer Back in Customer Service: Three Principles for Customercentric Support By, InQuira, Inc. Despite decades of investment, companies and customers are out of alignment in terms of what constitutes effective service. Adopting the principles of customercentricity, presented in this paper, in your customer service and knowledge management practices will lead to an alignment of customers' expectations with corporate objectives. Customer Service Tool Kit: Developing Your Cross-Channel, Cross-Lifecycle Customer Service & Self-Service and Support Search Initiatives By Patricia Seybold Group By, Knova This in-depth tool kit can help you effectively evaluate and facilitate crosschannel, cross-lifecycle customer service solutions and self-service and support search initiatives. The resources offered include templates to assist you in building RFP's and matrixes to help you facilitate your solution evaluation process. Customer Experience Happens in the Contact Center By, Cincom Systems, Inc. In the contact center, the front line of so many businesses, revenue is made and lost every day not on price or performance, but by the quality of the customer experience. Learn how to optimize every customer experience and build loyalty, with insights from Shaun Smith.

16

CHAPTER 2 OBJECTIVES, SCOPE AND LIMITATION OF THE STUDY

2.1

OBJECTIVES OF THE STUDY

Primary Objective To study the customer experience management in personal loan product in CitiFinancial India.

Secondary objective

1) To study the market expectations on the personal loan product from citifinancial. 2) To study the customer’s awareness on the personal loan product from CitiFinancial. 3) To study the customer experiences from the initial loan processing till the full settlement with the company.

17 2.2

SCOPE OF THE STUDY

CEM enables organizations to automatically understand what customers know about them. It is customer-driven and increases profitability by positively engaging customers to detail what they think, feel, and experience according to their specific interactions. It captures the ‘voice of the customer’ within the context of their experience and personal circumstance – resulting in better than 80% customer participation rate! CEM collects information directly from customers across all customer touch points – telephone, Web, email, and chat. Information is in context of customer interactions and specific to their experience. CEM rapidly increases profitability and operational efficiency by giving executives, managers, and marketing professionals critical information required to improve profitability – automatically. CEM reports customer experience information at its most granular level – by agent, process, product(s), or customer(s). It gives management (organizations) the ability to influence customer behavior by accurately understanding the drivers of customer experience (what, who, where, and how) and act upon them immediately. CEM encompasses the ability to combine CRM deliverables (customer profiles and segmentation) with actual customer experiences and transactional/productivity information. It delivers unprecedented opportunity, analytics, and decision metrics and quickly provides what CRM originally promised – a measurable return.

18

2.3

LIMITATIONS OF THE STUDY

1) The survey was conducted in the erode city. so, the information is consistent to the specific location only. 2) The survey was conducted for 2 months period. So the customer information and experiences may be defined only for the limited group of people. 3) The research methods used was simple percentage and chi-square.

19

CHAPTER 3 RESEARCH METHODOLOGY

3.1

RESEARCH DESIGN

Research Methodology is a systematic way of solving the problem. The methodology followed for this study is as follows. The research design is the basic framework or a plan for a study that guides the collection of data and analysis of data. In this market survey the design used Descriptive Research. It includes surveys and factfinding enquiries of different kinds. The major purpose of descriptive research is description of state of affairs, as it exists at present.

3.2

DATA COLLECTION METHOD

Data are collected from primary and secondary data. The data collected can be categorized into two types.

a) Primary data

b) Secondary data

The Primary data are those which are collected afresh for the first time, and thus happens to be original in character.

20 Among the various methods, which can be used to collect the primary data, the researcher has adopted two methods which are Personal Interview method and Structural Questionnaire method. The researcher has prepared structured questionnaires, which contained predominantly multiple choice questions. The respondent’s opinions are gathered with regard to the problem with the help of the questionnaires.

The Secondary data are those which have already been collected by someone else and which have already passed through the statistical process. The secondary data is collected from the of Guindy Thiru.Vi.Ka Industrial Estate Directory, Company Website, Internet etc.

3.3

SAMPLING

A sample is a smaller representation of a larger whole. When some of the elements are selected with the intention of finding out something about the population from which they are taken, that group of elements is referred as a sample, and the process of selection is called Sampling.

3.3.1

Sampling Unit

The respondents of the study are part of population of customers of Citifinancial. Each customers is considered to be the sampling unit.

3.3.2

Sample Size

The size of the sample is 150, out of the total population 1500.

21 3.3.3

Sampling Method

Judgmental sampling method is used in this study.

3.4

STATISTICAL TOOLS USED FOR THE STUDY

The collected data were analyzed with the help of simple percentage analysis and chi-square test

3.4.1

Percentage Analysis

Percentage refers to a special kind of ratio in making comparison between two or more data and to describe relationships. Percentage can also be used to compare the relation terms the distribution of two or more sources of data.

Percentage of Respondents =

3.4.2

Number of Respondents --------------------------------- X 100 Total Respondents

Chi-Square Analysis

Chi-square is a non-parametric test of statistical significance for bi-variate tabular analysis. A non-parametric test, like chi square, is a rough estimate of confidence.

22 Chi-square is used most frequently to test the statistical significance of results reported in bivariate tables and interpreting bivariate tables is integral to interpreting the results of a chi-square test.

Chi – Square Test Method

The Chi – square method is the application of testing the significant difference between observed and expected values.

Null Hypothesis (H0)

The hypothesis, or assumption, about a population parameter we wish to test, usually an assumption of the status quo.

Alternative Hypothesis (H1)

The conclusion we accept when the data fail to support the null hypothesis.

Statistical Test:

2

Chi–square test (χ ) =

(O − E ) 2 ∑ E

23

Degrees of freedom whereas,

=

(R-1) (C-1)

O

=

Observed frequency

E

=

Expected frequency

R

=

Number of rows

C

=

Number of columns

To find E :

Expected Frequency =

Row Total × Column Total ----------------------------------Grand Total

Level of Significance (α):

A value indicating the percentage of sample values that is outside certain limits, assuming the null hypothesis is correct, that is, the probability of rejecting the null hypothesis when it is true.

24

CHAPTER 4 DATA ANALYSIS AND INTERPRETATION

4.1

PERCENTAGE ANALYSIS

TABLE NO. 1 OCCUPATION OF THE RESPONDENTS S.No. 1. 2. 3.

Occupation Business Professional Employee Total

No. of Respondent 38 62 50 150

Percentage 25.3 41.3 33.3 100.0

INFERENCE

It is identified from the above table that 25.3% of the respondents are working in business, 41.3% of the respondents are working as professional and 33.3% of the respondents are working as employee.

It is concluded from the above table that maximum (41.3%) of the respondents are working as professional.

25

26

TABLE NO. 2 PERSONAL LOAN S.No. 1. 2.

Opinion Yes No Total

No. of Respondent 69 81 150

Percentage 46.0 54.0 100.0

INFERENCE

It is identified from the above table that 46.0% of the respondents are having personal loan and 54.0% of the respondents are not having the personal loan.

It is concluded from the above table that maximum (54.0%) of the respondents are not having the personal loan.

27

28

TABLE NO. 3 KNOWING ABOUT THE PERSONAL LOAN S.No. 1. 2. 3. 4. 5.

Opinion Executives Tele Calling Ads & Pamphlets References Others Total

No. of Respondent 24 42 32 47 5 150

Percentage 16.0 28.0 21.3 31.3 3.3 100.0

INFERENCE

It is evident from the above table that 16.0% of the customers are known about the personal loan from executives, 28.0% of the customers are known about the personal loan from tele calling, 21.3% of the customers are known about the personal loan from Ads and pamphlets, 31.3% of the customers are known about the personal loan from references and 3.3% of the customers are known about the personal loan from others.

It is concluded from the above table that maximum (31.3%) of the customers are known about the personal loan from references.

29

30

TABLE NO. 4 INFORMATION OF THE PERSONAL LOAN S.No. 1. 2.

Opinion Yes No Total

No. of Respondent 72 78 150

Percentage 48.0 52.0 100.0

INFERENCE

It is cleared from the above table that 48.0% of the respondents are waiting for the information of the personal loan and 52.0% of the respondents are not waiting for the information of the personal loan.

It is concluded from the above table that maximum (52.0%) of the respondents are not waiting for the information of the personal loan.

31

32

TABLE NO. 5 SATISFACTION OF PERSONAL LOAN AMOUNT S.No. 1. 2. 3. 4. 5.

Factors Poor Fair Good Very Good Excellent Total

No. of Respondent 16 51 65 15 3 150

Percentage 10.7 34.0 43.3 10.0 2.0 100.0

INFERENCE

It is noted from the above table that 10.7% of the respondents are poorly satisfied of personal loan amount, 34.0% of the respondents are fairly satisfied of personal loan amount, 43.3% of the respondents are good in satisfaction of personal loan amount, 10.0% of the respondents are very good in satisfaction of personal loan amount and 2.0% of the respondents are excellent in satisfaction of personal loan amount.

It is concluded from the above table that maximum (43.3%) of the respondents are good in satisfaction of personal loan amount.

33

34

TABLE NO. 6 PREFERENCE OF THE PERSONAL LOAN S.No. 1. 2. 3. 4.

Opinion First Second Third Any other Total

No. of Respondent 58 55 29 8 150

Percentage 38.7 36.7 19.3 5.3 100.0

INFERENCE

It is stated from the above table that 38.7% of the respondents are preferred first personal loan, 36.7% of the respondents are preferred second personal loan, 19.3% of the respondents are preferred third personal loan and 5.3% of the respondents are preferred any other personal loan.

It is concluded from the above table that maximum (38.7%) of the respondents are preferred first personal loan.

35

36

TABLE NO. 7 PURCHASE ANOTHER PRODUCT S.No. 1. 2. 3.

Opinion Yes No Maybe Total

No. of Respondent 51 50 49 150

Percentage 34.0 33.3 32.7 100.0

INFERENCE

It is evident from the above table that 34.0% of the customers are purchased another product, 33.3% of the customers are not purchased another product and 32.7% of the customers maybe purchased another product.

It is concluded from the above table that maximum (34.0%) of the customers are purchased another product.

37

38

TABLE NO. 8 USING OF ANY COUPONS OR RECEIVE A DISCOUNT S.No. 1. 2.

Opinion Yes No Total

No. of Respondent 74 76 150

Percentage 49.3 50.7 100.0

INFERENCE

It is stated from the above analysis that 49.3% of the customers are using coupons or received a discount and 50.7% of the customers are not using coupons or received a discount.

It is concluded from the above table that maximum (50.7%) of the customers are not using coupons or received a discount.

39

40

TABLE NO. 9 RATE THE OVERALL VALUE OF PERSONAL LOAN S.No. 1. 2. 3. 4. 5.

Opinion 1- very low value 2- low value 3- medium low value 4- high value 5- very high value Total

No. of Respondent 39 19 45 33 14 150

Percentage 26.0 12.7 30.0 22.0 9.3 100.0

INFERENCE

It is obvious from the above table that 26.0% of the customers are rating 1-very low value of personal loan, 12.7% of the customers are rating 2- low value of personal loan, 30.0% of the customers are rating 3- medium value of personal loan, 22.0% of the customers are rating 4-very high value of personal loan and 9.3% of the customers are rating 5-very high value of personal loan.

It is concluded from the above table that maximum (30.0%) of the customers are rating 3-medium value of personal loan.

41

42

TABLE NO. 10 SATISFACTION OF PERSONAL LOAN PROVISION S.No. 1. 2. 3. 4. 5.

Opinion Very satisfied Somewhat satisfied Neutral Somewhat dissatisfied Very dissatisfied Total

No. of Respondent 34 50 39 22 5 150

Percentage 22.7 33.3 26.0 14.7 3.3 100.0

INFERENCE

It is cleared from the above table that 22.7% of the customers are very satisfied with the personal loan provision, 33.3% of the customers are somewhat satisfied with the personal loan provision, 26.0% of the customers are neutrally satisfied with the personal loan provision, 14.7% of the customers are somewhat dissatisfied with the personal loan provision and 3.3% of the customers are very dissatisfied with the personal loan provision.

It is concluded from the above table that maximum (33.3%) of the customers are somewhat satisfied with the personal loan provision.

43

44

TABLE NO. 11 CITI FINANCIAL PERSONAL LOAN COMPARED WITH OTHER LOAN PRODUCT S.No. 1. 2. 3. 4.

Opinion Is better About the same Is worst Not sure Total

No. of Respondent 40 68 31 11 150

Percentage 26.7 45.3 20.7 7.3 100.0

INFERENCE

It is inferred from the above table that 26.7% of the customers are compared citi financial personal loan with other loan product is better, 45.3% of the customers are compared citi financial personal loan with other loan product about the same, 20.7% of the customers are compared citi financial personal loan with other loan product is worst and 7.3% of the customers are compared citi financial personal loan with other loan product is not sure.

It is concluded from the above table that maximum (45.3%) of the customers are compared citi financial personal loan with other loan product about the same.

45

46

TABLE NO. 12 SERVICE OF THE PERSONAL LOAN S.No. 1. 2. 3. 4. 5.

Opinion Excellent Very good Good Fair Poor Total

No. of Respondent 23 26 45 37 19 150

Percentage 15.3 17.3 30.0 24.7 12.7 100.0

INFERENCE

It is noted from the above table that 15.3% of the customers are rating the service of personal loan is excellent, 17.3% of the customers are rating the service of personal loan is very good, 30.0% of the customers are rating the service of personal loan is good, 24.7% of the customers are rating the service of personal loan is fair and 12.7% of the customers are rating the service of personal loan is poor.

It is concluded from the above table that maximum (30.0%) of the customers are rating the service of personal loan is good.

47

48

TABLE NO. 13 RECOMMENDATION OF PERSONAL LOAN S.No. 1. 2. 3. 4. 5.

Opinion Definitely Probably Not sure Probably not Definitely not Total

No. of Respondent 39 39 32 30 10 150

Percentage 26.0 26.0 21.3 20.0 6.7 100.0

INFERENCE

It is revealed from the above table that 26.0% of the customers are definitely and probably recommended the personal loan to a friend or associate, 21.3% of the customers are not sure recommended the personal loan to a friend or associate, 20.0% of the customers are probably not recommended the personal loan to a friend or associate and 6.7% of the customers are definitely not recommended the personal loan to a friend or associate.

It is concluded from the above table that maximum (26.0%) of the customers are definitely and probably recommended the personal loan to a friend or associate.

49

50 TABLE NO. 14 QUALITY OF SERVICE S.No. 1. 2. 3. 4. 5.

Opinion Excellent Satisfactory Dissatisfactory poor Good Total

No. of Respondent 28 54 24 12 32 150

Percentage 18.6 36 16 8 21.4 100.0

INFERENCE

It is obtained from the above table that 18.7% of the customers are evaluating a quality of service is excellent in customer service experience, 36.0% of the customers are evaluating a quality of service is satisfactory in customer service experience, 37.3% of the customers are evaluating a quality of service is dissatisfactory in customer service experience and 8.0% of the customers are evaluating a quality of service is very poor in customer service experience.

It is concluded from the above table that maximum (37.3%) of the customers are evaluating a quality of service is satisfactory in customer service experience.

51

52

TABLE NO. 15 PROCESS OF THE LOAN S.No. 1. 2. 3. 4. 5.

Opinion Fastest Fast Average Slow Slowest Total

No. of Respondent 25 50 39 30 6 150

Percentage 16.7 33.3 26.0 20.0 4.0 100.0

INFERENCE

It is obvious from the above table that 16.7% of the customers are thinking the process of loan is the fastest, 33.3% of the customers are thinking the process of loan is fast, 26.0% of the customers are thinking the process of loan is average, 20.0% of the customers are thinking the process of loan is slow and 4.0% of the customers are thinking the process of loan is the slowest.

It is concluded from the above table that maximum (33.3%) of the customers are thinking the process of loan is fast.

53

54

TABLE NO. 16 PROCESS OF SOLVING PROBLEM S.No. 1. 2. 3. 4. 5.

Opinion Very poor Somewhat unsatisfactory About average Very satisfactory Excellent Total

No. of Respondent 11 30 50 34 25 150

Percentage 7.3 20.0 33.3 22.7 16.7 100.0

INFERENCE

It is evident from the above table that 7.3% of the customers are thinking about the process of solving problem is very poor, 20.0% of the customers are thinking about the process of solving problem is somewhat unsatisfactory, 33.3% of the customers are thinking about the process of solving problem is about average, 22.7% of the customers are thinking about the process of solving problem is very satisfactory and 16.7% of the customers are thinking about the process of solving problem is excellent.

It is concluded from the above table that maximum (33.3%) of the customers are thinking about the process of solving problem is about average.

55

56

TABLE NO. 17 BEST DESCRIPTION S.No. 1. 2. 3. 4. 5. 6.

Opinion Gave clear answers Gave me the wrong information They didn’t understand the question Gave unclear answers Couldn’t solve problem Other Total

No. of Respondent 50 13 37 24 16 10 150

Percentage 33.3 8.7 24.7 16.0 10.7 6.7 100.0

INFERENCE

It is evident from the above table that 33.3% of the customers are described citi financial personal loan are giving clear answers, 8.7% of the customers are described citi financial personal loan are giving the wrong information, 24.7% of the customers are described citi financial personal loan are not understand the question, 16.0% of the customers are described citi financial personal loan are giving unclear answers, 10.7% of the customers are described citi financial personal loan are not solving the problem and 6.7% of the customers are described citi financial personal loan are having

other

problems.

It is concluded from the above table that maximum (33.3%) of the customers are described citi financial personal loan are giving clear answers.

57

58 TABLE NO. 18 SATISFIED WITH THE AMOUNT OF CONTACT BETWEEN ORGANIZATION AND CITI FINANCIAL INDIA S.No. 1. 2. 3. 4. 5.

Opinion Very satisfied Satisfied Neutral Dissatisfied Very dissatisfied Total

No. of Respondent 24 40.5 40 29 7.5 150

Percentage 16 30 26.6 19.4 8 100.0

INFERENCE

It is noted from the above table that 16.0% of the customers are very satisfied with the amount of contact between organisation and Citifinancial India, 30.0% of the customers are satisfied and 26.6% of the customers are neutrally satisfied with the amount of contact between organisation and Citifinancial India, 19.4% of the customers are dissatisfied with the amount of contact between organisation and Citifinancial India, 8.0% of the customers are dissatisfied with the amount of contact between organization and Citifinancial India.

It is concluded from the above table that maximum (30.0%) of the customers are satisfied with the amount of contact between organisation and Citifinancial India.

59

60

TABLE NO. 19 QUALITY OF SALES DEPARTMENT SERVICE S.No. 1. 2. 3. 4. 5.

Opinion Excellent Very good Good Fair Poor Total

No. of Respondent 21 32 38 40 19 150

Percentage 14.0 21.3 25.3 26.7 12.7 100.0

INFERENCE

It is obvious from the above table that 14.0% of the customers are knowing about the quality of sales department service is excellent, 21.3% of the customers are knowing about the quality of sales department service is very good, 25.3% of the customers are knowing about the quality of sales department service is good, 26.7% of the customers are knowing about the quality of sales department service is fair and 12.7% of the customers are knowing about the quality of sales department service is poor.

It is concluded from the above table that maximum (26.7%) of the customers are knowing about the quality of sales department service is fair.

61

62 TABLE NO. 20 VALUE OF CITIFINANCIAL SERVICES COMPARED WITH OTHER COMPANIES S.No. 1. 2. 3. 4. 5.

Opinion Excellent Very good Good Fair Poor Total

No. of Respondent 18 35 41 46 10 150

Percentage 12.0 23.3 27.3 30.7 6.7 100.0

INFERENCE

It is obvious from the above table that 12.0% of the customers are compared the value of citi financial service with other companies is excellent, 23.3% of the customers are compared the value of citi financial service with other companies is very good, 27.3% of the customers are compared the value of citi financial service with other companies is good, 30.7% of the customers are compared the value of citi financial service with other companies is fair and 6.7% of the customers are compared the value of citi financial service with other companies is poor.

It is concluded from the above table that maximum (30.7%) of the customers are compared the value of citi financial service with other companies is fair.

63

64 TABLE NO. 21 EXPERIENCE WITH THE PERSONAL LOAN PROVISION S.No. 1. 2. 3.

Opinion Satisfactory Dissatisfied Excellent Total

No. of Respondent 90 60 0 150

Percentage 60.0 40.0 0 100.0

INFERENCE

It is observed from the above table that 60.0% of the customers are satisfied with the experience of the personal loan provision process and 40.0% of the customers are not satisfied with the experience of the personal loan provision process.

It is concluded from the above table that maximum (60.0%) of the customers are satisfied with the experience of the personal loan provision process.

65

66

4.2 CHI - SQUARE ANALYSIS

TABLE NO. 22 OCCUPATION AND LEVEL OF SATISFACTION TOWARDS PERSONAL LOAN PROVIDED BY THE CITI FINANCIAL (TWO-WAY TABLE)

S. No.

Occupation

1

Level of Satisfaction

Total

Highly Satisfied

Satisfied

Neutral

Dissatisfied

Highly Dissatisfied

Business

8

18

11

1

0

38

2

Professional

10

22

14

14

2

62

3

Employee

16

10

14

7

3

50

Total

34

50

39

22

5

150

Null Hypothesis (H0)

-

There is no significant relationship between occupation and level of satisfaction towards personal loan provided by the Citi financial.

Alternative Hypothesis (H1)

-

There

is

close

relationship

between

occupation and level of satisfaction towards personal loan provided by the Citi financial.

67

CHI-SQUARE (χ2) CALCULATION:

Calculated χ2 value

=

17.366

Degree of freedom

=

8

Table value

=

15.507

Significant result

=

Significant at 5% level

INFERENCE From the above analysis, we find that the calculated value of χ2 is greater than the table value and hence, the null hypothesis rejected. So, there is a close significant relationship between occupation and level of satisfaction towards personal loan provided by the Citi financial.

68

TABLE NO. 23 OCCUPATION AND LEVEL OF SATISFACTION TOWARDS CUSTOMER SERVICE EXPERIENCE (TWO-WAY TABLE)

Level of Satisfaction Very Somewhat Satisfactory unsatisfactory

S. No.

Occupation

1

Business

17

8

11

2

38

2

Professional

12

18

27

5

62

3

Employee

6

21

18

5

50

Total

35

47

56

12

150

Excellent

Null Hypothesis (H0)

-

Very poor

Total

There is no significant relationship between occupation and level of satisfaction towards customer service experience.

Alternative Hypothesis (H1)

-

There

is

close

relationship

between

occupation and level of satisfaction towards customer service experience.

69

CHI-SQUARE (χ2) CALCULATION:

Calculated χ2 value

=

15.823

Degree of freedom

=

6

Table value

=

12.592

Significant result

=

Significant at 5% level

INFERENCE From the above analysis, we find that the calculated value of χ2 is greater than the table value and hence, the null hypothesis rejected. So, there is a close significant relationship between occupation and level of satisfaction towards customer service experience.

70

TABLE NO. 24

OCCUPATION AND LEVEL OF SATISFACTION TOWARDS QUALITY OF SALES DEPARTMENT SERVICE (TWO-WAY TABLE)

S. No.

Occupation

1

Business

11

4

10

11

2

38

2

Professional

6

15

15

20

6

62

3

Employee

10

7

13

9

11

50

Total

27

26

38

40

19

150

Excellent

Null Hypothesis (H0)

Level of Satisfaction Very good Good Fair

-

Total Poor

There is no significant relationship between occupation and level of satisfaction towards quality of sales department service.

Alternative Hypothesis (H1)

-

There

is

close

relationship

between

occupation and level of satisfaction towards quality of sales department service.

71

CHI-SQUARE (χ2) CALCULATION :

Calculated χ2 value

=

15.831

Degree of freedom

=

8

Table value

=

15.507

Significant result

=

Significant at 5% level

INFERENCE From the above analysis, we find that the calculated value of χ2 is greater than the table value and hence, the null hypothesis rejected. So, there is a close significant relationship between occupation and level of satisfaction towards quality of sales department service.

72

TABLE NO. 25

OCCUPATION AND OPINION ABOUT THE CITI FINANCIAL SERVICES COMPARED WITH OTHER COMPANY (TWO-WAY TABLE)

S. No.

Occupation

1

Business

12

6

2

Professional

3

3

Employee Total

Excellent

Opinion Very good Good

Total Fair

Poor

10

10

0

38

15

19

22

3

62

6

11

12

14

7

50

21

32

41

46

10

150

Null Hypothesis (H0)

-

There is no significant relationship between occupation and opinion about the Citi financial services compared with other company.

Alternative Hypothesis (H1)

-

There

is

close

relationship

between

occupation and opinion about the Citi financial services compared with other company.

73

CHI-SQUARE (χ2) CALCULATION :

Calculated χ2 value

=

21.207

Degree of freedom

=

8

Table value

=

15.507

Significant result

=

Significant at 5% level

INFERENCE From the above analysis, we find that the calculated value of χ2 is greater than the table value and hence, the null hypothesis rejected. Hence, there is a close significant relationship between occupation and opinion about the Citi financial services compared with other company.

74

TABLE NO. 26

OCCUPATION AND OPINION ABOUT THE PROCESS FOR GETTING PROBLEM RESOLVED (TWO-WAY TABLE)

S. No.

Occupation

1

Business

2

Professional

3

Employee Total

Opinion Very Poor 2 (5.3) 5 (8.1) 4 (8.0)

Somewhat unsatisfactory 6 (15.8) 14 (22.6) 10 (20.0)

11

30

17 (44.7) 18 (29.0) 15 (30.0)

Very satisfactory 9 (23.7) 10 (16.1) 15 (30.0)

50

34

Average

Total Excellent 4 (10.5) 15 (24.2) 6 (12.0) 25

It is inferred from the above table that

 maximum (44.7%) of the business people are satisfied with average level for solving their problem  maximum (29.0%) of the professional are satisfied with average level for solving their problem and  maximum (30.0%) of the employee are very satisfied for solving their problem.

From the above table it is concluded that maximum of the business people are satisfied with average level for solving their problem.

38 62 50 150

75

CHAPTER 5 SUMMARY OF FINDINGS, SUGGESTIONS AND CONCLUSION

5.1



FINDINGS

It is found from the analysis that maximum (41.3%) of the respondents are working as professional.



It is stated from the analysis that maximum (54.0%) of the respondents are not having the personal loan.



It is noted from the analysis that maximum (31.3%) of the customers are known about the personal loan from references.



It is cleared from the analysis that maximum (52.0%) of the respondents are not waiting for the information of the personal loan.



It is observed from the analysis that maximum (43.3%) of the respondents are good in satisfaction of personal loan amount.



It is obvious from the analysis that maximum (38.7%) of the respondents are preferred first personal loan.



It is revealed from the analysis that maximum (34.0%) of the customers are purchased another product.



It is evident from the analysis that maximum (50.7%) of the customers are not using coupons or received a discount.

76 

It is inferred from the analysis that maximum (30.0%) of the customers are rating 3-medium value of personal loan.



It is identified from the analysis that maximum (33.3%) of the customers are somewhat satisfied with the personal loan provision.



It is followed from the analysis that maximum (45.3%) of the customers are compared Citi financial personal loan with other loan product about the same.



It is known from the analysis that maximum (30.0%) of the customers are rating the service of personal loan is good.



It is stated from the analysis that maximum (26.0%) of the customers are definitely and probably recommended the personal loan to a friend or associate.



It is noted from the analysis that maximum (37.3%) of the customers are evaluating a quality of service is satisfactory in customer service experience.



It is cleared from the analysis that maximum (33.3%) of the customers are thinking the process of loan is fast.



It is found from the analysis that maximum (33.3%) of the customers are thinking about the process of solving problem is about average.



It is cleared from the analysis that maximum (33.3%) of the customers are described Citi financial personal loan are giving clear answers.



It is identified from the analysis that maximum (26.7%) of the customers are satisfied with the amount of contact between organisation and Citi financial India.



It is revealed from the analysis that maximum (26.7%) of the customers are knowing about the quality of sales department service is fair.



It is evident from the analysis that maximum (30.7%) of the customers are compared the value of Citi financial service with other companies is fair.

77 

It is inferred from the analysis that maximum (60.0%) of the customers are satisfied with the experience of the personal loan provision process.



From the analysis it is found that maximum of the business people are satisfied with average level for solving their problem.



It is known from the analysis that there is a close significant relationship between occupation and level of satisfaction towards personal loan provided by the citi financial.



It is found from the analysis that there is a close significant relationship between occupation and level of satisfaction towards customer service experience.



It is evident from the analysis that there is a close significant relationship between occupation and level of satisfaction towards quality of sales department service.



It is found from the analysis that there is a close significant relationship between occupation and opinion about the Citi financial services compared with other company.

78

5.2

SUGGESTIONS

The company can provide more



company discounts gifts to the customers to make the personal loan to be attractive as it is preferred by the customers. Many customers have known the



loan products through references. So, if the ad media is enhanced. It would increase the product as well as brand awareness. The company has to improve its



customers service which include way of approaching customers, resolving the queries and maintaining turn around time.



The company can concentrate on e-media (electronic Media) to visualize and to increase the customers.

79 5.3

CONCLUSION

Companies have always tried to influence and manage their customers' experiences through marketing, sales, and service and support activities. They have always tried to deliver a consistent set of cues, messages and human interactions that, taken together, create "the customer experience." CEM however, is very new. A perfect complement to CRM initiatives, CEM allows companies to understand what a customer thinks, feels, wants, and experiences with regard to their people, products, and processes. It does so at a granular level enabling the organization to take immediate action to exploit opportunities, reduce costs, and improve revenues, while directly improving overall customer satisfaction and loyalty.

80

1-24,26,28,30,32,34,36,38,40,42,44,46,48,50,52,54,56,58,60,62,64,66-79