In this article we are going to talk about A Study Of Customer Awareness & Satisfaction. This study of customer awareness is based on housing loan schemes of banks. This article will be very useful for the students of MBA and PGDM. This article includes banking introduction, profile of sampled banks, introduction to housing loan etc. and you can also download the entire project.
During the 1950s in India, Banks were very conservative and inward looking, concerned with their profits. As a matter of fact, competition was not in existence. On the one side of the fence was state bank of India alone, enjoying Govt. patronage and on the other side were private commercial banks, local by orientation, primarily serving the interest of the controlling business houses. Therefore, neither State Bank of India nor others cared much for the public they had limited range of services which include current accounts, terms deposit accounts and savings bank account in deposit area. In the area of advances , limit were sanctioned on the basis of security by way of lock and key accounts and bills purchase limits , their miscellaneous services I included issuance of drafts, collection of outstation cheques , executing standing instructions and lockers facility at a few centers. It was the phase of select banking and even the communication through the media was looked upon with contempt as something against the tenets of banking culture. Even the advertisements released till 1966 were very few and far between. However after nationalization of 14 major commercial banks in 1969, banks woke from their splendid isolation and found themselves plakhed in a highly competitive and rapidly changing environment, with competition becoming fierce day by day. In the above back drop, banks approach towards customer and market underwent a change focus was gradually focused to marketing their products. Banks were product oriented organization, plakhing before the prospective customers, their range of services, expecting him to choose, presuming that the customer had the knowledge, time, interest and skills to pick out the services that would suit him. At the same time banks also become conscious of their corporate image and its projection and this introduced the public relations philosophy in banks with the purpose of image projection www.allprojectreports.com The first major step in the direction of marketing was initiated by state bank of India, when in 1972, it re organized itself on the basis of major market segments, dividing the customers on the basis of activity and carved out four major market segments, viz commercial and institutional segment, small industries and small business segment, agriculture segment and personal and services banking segment. The new organizational framework embodied the principal that the existence of organization is primarily dependent upon the satisfaction of customers needs. Again in 1973 the state bank of India took yet another major leap forward in the marketing direction when it, out its own violation, took upon itself the responsibility of involving itself in the neighborhoods affairs and winning the cooperation of the community in development efforts.
INTRODUCTION TO HOUSING LOANS HOME-
IS where, there is one to love us” -Charles Swain Everyone of us need a place of our own, which we call as HOME. The Home signifies comfort, security and peace so we strive for owning a house but buying an immovable property in India is a lifetime challenge because of a combination of factors. A meticulous planning at the investment stage can save us from sleepless nights later. Indian Bank realizes the importance of guiding the first time purchasers of property before making the buying decision.
PROFILE OF SAMPLED BANKS
(1) INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF INDIA (ICICI)
(2) STATE BANK OF INDIA (SBI)
(3) HOUSING DEVELOPMENT AND FINANCE CORPORATION LIMITED (HDFC)
(4) PUNJAB NATIONAL BANK (PNB)
Types of Loan Surveyed : o Home purchase loan o Home construction loan o Home extension loan o Existing home improvement loan o Land purchase loan