Hiren 1235
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A PROJECT REPORT ON Satisfaction level for the customers of Vimal Priority Service AT Vimal priority SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS OF MBA PROGRAMME
Prepared by:
Hiren Raval MBA (3rd Semester), 2008-09 Under the Guidance of: Siddik Kadiwala Department of Business Management,
Sankalchand Patel College of Engineering, Visnagar HEMCHANDRACHARYA NORTH GUJARAT UNIVERSITY, PATAN.
Hiren Raval, DBM, SPCE
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DECLARATION
I, Mr. Hiren.Raval, student of Department of Business Management, S.P. College of Engineering, and Visnagar affiliated to Hemchandracharya North Gujarat University, hereby declare that this project report is a result of culmination of my sincere efforts. I declare that this submitted work is done solely by me and to the best of my knowledge no such work has been submitted by any other person for the award of degree or diploma. I also declare that all the information collected from various secondary sources has been duly acknowledged in this project report.
Name: Hiren.Raval Signature:
Hiren Raval, DBM, SPCE
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CERTIFICATE
This is to certify that Mr. Hiren.Raval has satisfactorily completed the project work entitled, “Satisfaction level for the customer of Vimal Priority”. Based on the declaration made by the candidate and my association as a guide for carrying out this work, I recommended this project report for evaluation as a part of the MBA programme of Hemchandracharya North Gujarat University, Patan.
Place: Ahmadabad Date:
Guided By: Siddik kadiwala
The project is forwarded for evaluation to Hemchandracharya North Gujarat University, Patan.
Place: Visanagar Date:
(Principal)
Hiren Raval, DBM, SPCE
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ACKNOWLEDGEMENT
I take this opportunity to express my sincere gratitude to each & every person who has directly or indirectly helped me through this Summer Internship Project. My training experience at Vimal Priorities Ltd. has been truly a fulfilling and rewarding one. I extend my sincere thanks to Mr. Arpan Desai, Branch Manager Vimal Priorities Ltd. for giving me the opportunity to work with this company and carry out my project work. The present study is carried out under the supervision and guidance of Mr. Vallabh Marfatia Technical Analyst. It is my pleasure to express my sincere gratitude for his continuous support and guidance which helped me in accomplishing this project successfully. I thank him for providing his invaluable time, support, and co-operation to complete my project work. I also thank Mr. Jasmine Vaghasia, Technical Analyst and Mr.Tarun sir, B.D.M for his valuable and continuous guidance and coordination in my project. The credit to my performance cannot go without the support and guidance of my faculty incharge Bhavesh Parmar, Faculty DBM,SPCE. He has been of valuable guidance and inspiration in the said work. I also express my gratitude to all the employees of Vimal Priorities for sharing their knowledge and experience and for their invaluable guidance and support.
Lastly, I must thank my friends, who helped me directly and indirectly to accomplish my project.
Regards and Thanks
Hiren Raval Enrollment No.-19 DBM,SPCE, Visnagar
Hiren Raval, DBM, SPCE
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List of Table Table number
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Page
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Executive summary This report contains the main objective that to measure a satisfaction level of the customers for Vimal Priority. This is a most common thing for any company to find out that their customers are either satisfied from its services or not and if they are satisfied than at which extend customers are satisfied. I have tried in this research to find out the factors on which factors the customers are dissatisfied how much the severity of this dissatisfaction. I feel so lucky that I got a chance to learn these much practical knowledge and fieldwork. Again company helped me so much that I can get the knowledge of Share Market. To analyze the topic I used appropriate questions so that I can have accurate analysis of their satisfaction stat. With the help of my respective guides I had structured the question in a way that I can got a real picture of the satisfaction level. I have used Likert scale, Dichotomous scale and Semantic differential scale to structure the question and also use open ended questions. To analyze the answers I had mostly used percentages. I had also uses graphs to analyze the findings in detail. From my analyses I find that customers of Vimal Priority are satisfied with the services of Vimal. Customers are looking more than only satisfied in the matter of accuracy, reliability, timing of call, and clarity of message. As far as its employees are concern Vimal also live up to its customers expectations and they are satisfied in the performance of its employees. But I find that Vimal should decrease its price of the packages of Intraday priority and Nifty Priority.
Chapter-1 Hiren Raval, DBM, SPCE
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Introduction of organization
But we represent..
ABOUT VIMAL PRIORITY
Hiren Raval, DBM, SPCE
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VIMAL PRIORITY is an Ahmedabad based leading research and advisory based company with a governing position in both Institutional and Retail industries. We have been rated top by many renowned independent research and investors. It multitude of services to suit all kind of players in Indian stock market under brand name of Vimal Priority, Vimal Stocks and Vimal Commodities. We offer Intraday, F&O, Jackpot calls, Delivery, Nifty which aids to Investors, Traders and Portfolio Advisories personnel. All services are provided through SMS, Messenger and Relationship management. More and more investors and traders are getting attracted to Intraday and Intraday F&O - Trading to make quick money but often make huge losses in absence of any knowledge, strategy or discipline required for Day or Short Term trading. Only handful smart traders/investors are able to make money in both Rising as well as Falling Market. We at Vimal priority are committed in helping our investors and traders to benefit from Indian Stock Market by adopting a reasonably correct strategy with discipline. SIP AT VIMAL PRIORITY During our sip of 1 and half months, we have done and learned many things… we have done marketing, selling, learning technical Analysis of scripts, forex and different commodities like crude as well. Here it is briefly summarized what we have done during our sip tenure. 1st phase: First phase was of first 7 days and during that we were given introduction about different products of what Vimal securities are offering, its price and how that prices were determined.
The various products offered by Vimal Priorities are as follows:
Bulls eye priority : The main objective of this product was to make profit from nifty trading, call and put, STBT,BTST,. The price of this product is Rs. 50,000/- per month.
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Investment priority: investment priority focuses on investment opportunities in the market and assures return up to 50%. The price of this pack is Rs.20000. Nifty priority: Nifty priority’s aim is of short term capital growth and focuses only on nifty trading. The price of this pack is Rs. 15000. Call and put priority: Call and put priority aim is short term income generation via call and put trading in the market. This is available at Rs.5000.
BTST ABD STBT Priority: Buy today and sell tomorrow and sell tomorrow and buy today gives attractive return of 25%.and price of this is Rs.5000. Future priority: Future priority avails short term income generation through F & O. this is available at Rs.25000. Pre –market Priority: In this very unique and attractive product, a customer gets call before market opening and he will trade only on those calls which he has got in the morning. This product is available at Rs.1000. 2nd phase: After introduction and basic understanding of these products we were taught to Define Target market (Like Sub-brokers, Retailers, HNIs, and Jewelers etc.). Then we learned How to pitch those identified customers After that our rigorous phase of our S.I.P. began and it was fully focused on marketing and selling of products. In this second phase, we met more than 200 customers of all sectors and segments from Sub-brokers, Retailers, Government employees, Jewelers, different stock broking houses of different areas of Ahmadabad. During sip at Vimal we learned more marketing rather than anything. We have done both marketing and selling successfully in different areas of Ahmadabad like Ahmadabad stock exchange, Paldi Bhatta, ashram road, satellite, C.G.Road, S.G.Highway and so on..We have covered almost all the areas of west Ahmadabad. During the S.I.P on few Saturdays special lectures where conducted for us by the technical analyst present there in the office which helped us a lot in increasing our knowledge in the field of technical analysis. Sometime, we were also allowed to sit with them and watch what they do during market hours, which was also a great learning experience to us.
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Chapter-2
Organization Structure
Vijay Shah (Chairma Darshan Shah
Nilesh Oja
(CEO)
Business
Ashish Shah
Business Developme nt officer
Vice President
Arpan Desai AVP
Team leader
Executive
TELE CALLER
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Departmental study Marketing department Vimal priority is India’s largest advisory provider for NSE and Nifty. Vimal priority has its own well structured planned strategy for its more than 12000 customers in all over India. Vimal marketed its services via today’s advanced channels of communication. Vimal priority did the marketing campaign through print media as well as through internet. Vimal specially used to send a SMS fire to the random customers of the other organization or to the ordinary people without having of any information about them. Vimal priority gives its advertisement in famous newspaper e.g.: In Gujarat, Gujarat samachar, Divya Bhaskar and Times of India Apart from it Vimal has its own web site with online payment facility. Vimal corporate markets its services via some money shows at many places around India. e.g: Ahmedabad, Chandigadh Hence Vimal priority has its own marketing team who makes marketing strategy and its own marketing decisions.
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Human Resource department As Vimal is India’s largest advisory provider and hence it has to maintain and keep its employees ready to serve as Vimal’s motto is ”Service Which Serves Better” Recruitment Process Vimal Priority is very alert in maintain its staff self sufficient and skilled.Vimal riority gives its classifieds of requirement through print media and asking for appropriate formal requests or application Selection Process Vimal has a selection process which is the most reliable and traditional and that is through personnel interview. Vimal Priority invites appropriate applicants for interview.This applicants has to pass out from a though interview and has to satisfy experienced interviewer
Performance Appraisal Vimal motivates its employees through different kind of motivation tools. Vimal offers annual, month ending, occasional, festival discounts for its employees to support them and helping them to fulfill their goals. Vimal assigns a measurable and achievable but yet challenging goals with individual capacity of fulfilling the goal. Vimal has a super skilled and prepared employee team which is working directly under CEO of the company. Vimal also offers special gifts or vouchers for its employees. Employees Welfare schemes Vimal provide med claims to its employees. Incentives Vimal priority gives 10% of salary as an incentive to the employees after the completion of their specific goals. Besides that further it provides more premium incentives when their employee achieving extra ordinary tasks. It also organizes annual or quarter ending ceremonies to encourage its employees and gives special rewards.
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Finance department Corporate office Vimal Priority 7th floor, Suyojan Building, Near President Hotel, Navrangpura, Ahmedabad-380009. Web-www.vimalpriority.com [email protected]
IT department Company is working upon fully automatic equipments with advanced software. As the job of the company is very hard to predict about the Sensex and Nifty. So to giving the perfect and accurate prediction to the customers, it is very hard to analyze, so company is using Technical Analysis.
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1. Technical Analysis What is Technical Analysis? Technical Analysis is the forecasting of future financial price movements based on an examination of past price movements. Like weather forecasting, technical analysis does not result in absolute predictions about the future. Instead, technical analysis can help investors anticipate what is "likely" to happen to prices over time. Technical analysis uses a wide variety of charts that show price over time. Technical analysis is applicable to stocks, indices, commodities, futures or any tradable instrument where the price is influenced by the forces of supply and demand. Price refers to any combination of the open, high, low, or closes for a given security over a specific time frame. The time frame can be based on intraday (1-minute, 5-minutes, 10-minutes, 15-minutes, 30-minutes or hourly), daily, weekly or monthly price data and last a few hours or many years. In addition, some technical analysts include volume or open interest figures with their study of price action. The Basis of Technical Analysis At the turn of the century, the Dow Theory laid the foundations for what was later to become modern technical analysis. Dow Theory was not presented as one complete amalgamation, but rather pieced together from the writings of Charles Dow over several years. Of the many theorems put forth by Dow, three stand out: • • •
Price Discounts Everything Price Movements Are Not Totally Random What Is More Important than Why
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PART-2 CHAPTER-1 Introduction
Advisory provider company Vimal is the largest of India. It has more than 12000 customers. It is essential to know about the satisfaction level for the company. Company is now looking to grow it local level and it is planning to increase its branches so it is necessary to add more and more customers. At the same time it is again important to retain old customers since competition is now increasing day by day. Hence this research report will give the basic knowledge about the satisfaction of the customers and their expectation from the company and at which level company succeeds to fulfill it.
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CHAPTER-2 Statement of the problem “Satisfaction level for the customers of Vimal Priority” Objective •
For the Organization This research project would be helpful to provide the service according to the customer’s expectations and would be helpful to enhance the satisfaction level of the customers.
•
For the Researcher It would provide the basic information about the stock market and will give the basic knowledge about the customer’s expectations from a company.
Sub Objective •
Factors responsible for the satisfaction of the customers
•
Analyze the parameters for the satisfaction level
Methodology After collecting primary and secondary data It also contains an information from 300 customers of Vimal Priority with the help of questionnaire. Sampling Sampling pattern is to send E-mails to the customer of Vimal Priority. Source of Data •
Company’s corporate website
•
Customer data base from the company
Scaling Method I have use Likert Scale, rating Scale. Also I have use rank order Scale and an agreement & disagreement series
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Tools for Data Collection •
Primary data through questionnaire
•
Secondary data through the corporate website and company brochures
Fieldwork I have completed the fieldwork doing marketing for the company. During the summer training programme we are used to meet the brokers and their clients and talk with them about the company’s service and products and give them our contact numbers. If they are looking interested then only we provide them free trial of one day as per their requirement. At last we used to take the follow up.
Analysis The preplanned analysis through thoughtful and meaningful questions.
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Part-B Limitation of the study The limitations of the study are as follows. 1. This study is done in a short period of time span. Only in one month and ten days this
study I have to complete. So this was a main limitation of the study. I have to complete all my practical learning and that’s why I have collect the information and data which may be insufficient for the further learning or research work. 2. Another big limitation is that Vimal does not agree to disclose the information of its
customers. Hence I have to rely on the information which company provides to me. 3. I have to send questionnaires through the mail so there could be a lake of interpretation
and I cannot meet them face to face or can’t solve the problem regarding questions. 4. I cannot collect Some confidential information which is not given to me by the company
because of their policy E.g. Financial information ,balance sheet, last year’s turn over etc.
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CHAPTER-3 Respondent’s profile The respondents are bifurcated as per their age, gender, income, occupation and investment. All the respondents are from the all over of India. Respondents are a current customers of Vimal and they are selected without any restriction of gender, age, income, religion, demographic or occupation.
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CHAPTER-4
Analysis of the Questionnaire
Here following is the total analysis of the all questions. Hiren Raval, DBM, SPCE
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1.How long you have taken services from Vimal priority?
One month Three month Six month More than six month Total
Frequency 64 95 112 29 300
Percent 21.3 31.7 37.3 9.7 100.0
Table no.
costomer's attachment with the company 40 35 30 25 20 15 10 5 0
37.3 31.7 21.3 9.7
one month
three month
Series1
six month more than six month
This result is shows that company has very honest customer profile. Customers who are once attached with Vimal are very honest to the company and show their faith in the company. So 37.3% customers are sticks with the company for more than six months. Second highest customers join the company for three months.
1. Your occupation is…. Hiren Raval, DBM, SPCE
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Govt. job Private job Business Self employed Student House wife Total
Frequency 18 127 81 11 37 26 300
Percent 6.0 42.3 27 3.7 12.3 8.7 100.0
Table no. 1
occupatin of the customers
8.7
12.3
6
govt job private job
3.7
business 42.3 27
self employed student house wife
Here we can show that people of private job showing a great interest in stock market and choosing equity as a better option of investment. They choose to invest with the minimum risk and that’s why they taking best advice. And businessmen are obviously at second highest position and at last students are also showing great interest in taking advisory service.
2. Your income per month is….
Frequency 0 toDBM, 10000 Hiren Raval, SPCE 10000 to 25000 25000 to 40000 More than 40000 Total
19 73 81 127 300
Percent 6.3 24.3 27.0 42.3 100.0
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Table no.2
income of the customer 45 40 35 30 25 20 15 10 5 0
42.3
24.3
27 Series1
6.3 0 to 10000
10000 to 25000
25000 to 40000
more than 40000
This graph indicates that subscription of Vimal is directly proportional to the income of the customers of vimal.high income, high possibility of purchasing of advisory service. So this indicates that Vimal should target to the high profile customers. Income of more than 40000 have the highest proportion and second highest is the people with the income 10000 to 25000.
3. Which service you are currently taking from Vimal Priority? Hiren Raval, DBM, SPCE
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Frequency 67 53 102 24 35 11 8 300
Intraday Call & Put Future & Option STBT& BTST Nifty Investment Commodity Total
Percent 22.3 17.7 34.0 8.0 11.7 3.7 2.7 100.0
Table no.3
subsrciption of customers
11.7
3.7
2.7
intrday
22.3
call & put
8
f& o stbt & btst 17.7 34
nifty investment commodity
This graph shows that Future and Option is the most favorite for the customers of Vimal still. May be because of the degree of the security of their investment. Intraday secures second place with 22.3%.for the same reason may be Call and Put have third position
4. Do you think that Vimal’s advice earns you more? Hiren Raval, DBM, SPCE
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Highly agree Agree Neutral/can't say Disagree Highly disagree Total
Frequency 23 212 22 30 13 300
Percent 7.7 70.7 7.3 10.0 4.3 100.0 Table no.4
customer's view about earnings
10
4.3
7.7
Highly agree
7.3
Agree neutral/can't say Disagree 70.7
Highly disagree
This question is specially analyses the overall satisfaction level of the customers of Vimal. This result is very satisfactory for the Vimal as overall the satisfaction level of the Vimal Priority is 70.7%. So 70.7% customers of Vimal agreed that Vimal earns more for them. Besides that only 10% customers shows aggressive disagreement fore that which is great for Vimal.
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5. Are you satisfied from the employees of Vimal Priority?
Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
Frequency 14 216 30 29 11 300
Percent 4.7 72.0 10.0 9.7 3.7 100.0
Table no.5
customers overall satisfaction
9.7
3.7
4.7 highly satisfied
10
satisfied neutral dissatisfied 72
highly dissatisfied
This graph indicates the main result of my main objective of this questionnaire. Here Vimal grabs its customers’ expectations into reality and that’s why 72% customers are says that they are satisfied and 4.7% customers are Highly Satisfied. Overall satisfaction level of Vimal is very well and so only 3.7% are Highly Dissatisfied.
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6. How is your experience with Vimal Priority regarding to following factors?
Accuracy
Frequency Very poor Poor Neutral Good Very good Total
Percent
20 26 2 240 12 300
6.7 8.7 .7 80.0 4.0 100.0
Table no.6
This results says that Vimal is almost looking to fulfill its claim that they giving more than 85% ratio of of success. Hence Vimal is very honest company which almost done what they claimed. 80% customers have a view that accuracy rate of Vimal priority is good. 4% customers accept that it is very good. Only 6.7% customer thinks that it is very poor. The reason is that tips that Vimal provide, customer have to follow all the calls. Hence the customer who does not follows all the calls are complaining about the loss they made.
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Reliability
Very poor Poor Neutral Good Very good Total
Frequency 21 30 12 201 36 300
Percent 7.0 10.0 4.0 67.0 12.0 100.0 Table no.7
67% customer shows their faith in Vimal and they believe that Vimal is a reliable firm while taking decision of investment for equity market. While only 7% customers did not have faith in Vimal. I think that might the people who can not follow the instructions given by Vimal. Sometimes customers were not be able to interprets the message or call. So that’s why only 7% customers are not satisfied with the reliability of the company. The relief for the company was that 12% customers are rated reliability of Vimal as Very Good.
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Timing
Very poor Poor Neutral Good Very good Total
Frequency 11 49 3 168 69 300
Percent 3.7 16.3 1.0 56.0 23.0 100.0 Table no.8
This one is somewhat noticeable for the company. The customers does not comfortable with the timing of the call may be because of the technical faults. Generally sometime we all have an experience that text messages are coming late even though of good format or the timing of messages sending. And the other source of the tips collection that is yahoo messenger sometimes does not work properly. So this could be the reason of the lateness of messages. But the big relief for the company is above 55% customers having no problems in getting right tips at right time.
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Clarity
Frequency Very poor Poor Neutral Good Very good Total
Percent 14 36 7 176 67 300
4.7 12.0 2.3 58.7 22.3 100.0
Table no.9
This graph shows that above 58% customers have no problems in interpreting message. While 22.3% customers are having a same view that they have no problem of interpretation of the message. Hence only 4.7% grade the company as a Very Poor in clarity of the message which was negligible.
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8. What do you think, about the price of the packages of Vimal Priority are.
Frequency 22 156 13 64 45 300
Very low Reasonable Neutral Costly Very costly Total
Percent 7.3 52.0 4.3 21.3 15.0 100.0 Table no.10
price of the packages
15
7.3 very low reasonable neutral
21.3
costly 4.3
52
very costly
Here we can analyze that only 15% people think that services of Vimal are very costly. Against that 52% customers accept that services of Vimal are reasonable. The reason of this result is may be because of the assuredly. Vimal claims that they would give all the money back if they could not make their customers 30% profit. Which is very challenging job for Vimal and that’s why they take the help of Technical Analysis which is done by a team of 12 to 15 members. Which is quite costly task and therefore the cost cutting is next to impossible task again.
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9. Have you ever taken advisory service from anyone else?
Yes No Total
Frequency 33 267 300
Percent 11.0 89.0 100.0 Table no.11
Services taken before Vimal
11
yes no
89
This question refers that there is a bright future in this industry because the market of advisory service is looking so much saturated as we know that India Info line, Share khan, Angel Broking, Religare etc. are old, giant and famous firms for advisory service. But this all firms are indirect competitors as they are a big broking houses and they provide free service of advice while Vimal Priority is the only advisory company with a this large customer bank. Here are very small and local firms like Rushabh Advice, Shree SMS Service, etc. Hence the customers seeks to take advice if they find trust in any company then they would likely take a n accurate advice in the today’s volatile market to secure their investments and to increase their profit.
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10. In comparison of Vimal Priority your previous advisory company, is…..
Accuracy
Table no.12
Very poor Poor Neutral Good Very good Total
Accuracy of previus company
Percent 60.7 23.7 4.3 5.3 6.0 100.0
very poor poor neutral good very good
Reliability Table no.13
Very poor Poor Neutral Good Very good Total
reliability of previous company
Percent 52.0 35.7 1.3 6.7 4.3 100.0
1.3 6.7
very poor poor neutral
35.7
Hiren Raval, DBM, SPCE
4.3
52
good Very good
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Timing Table no.14 Very poor Poor Neutral Good Very good Total
timing for call of previous company
Percent 65.3 17.7 2.0 9.3 5.7 100.0
2
9.3
5.7 very poor poor neutral
17.7
good 65.3
very good
Clarity Table no.15 Very poor Poor Neutral Good Very good Total
clarity of call for previous cmpany
Percent 17.0 43.0 2.7 23.3 14.0 100.0
14
17 very poor poor neutral
23.3
good 2.7
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43
very good
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As per the graphs of above we can clearly obtain that Vimal Priority is better company than their previous company so far. As we can clearly see that Vimal gives strong defeat all factors like in accuracy, reliability, timing of call and Clarity of message.60.2%, 52%, 65.3% customers thinks that their previous company was Very Poor in accuracy, reliability, and timing respectively. At last 43% customers accept that their previous company was Poor in Timing of call. Here the analysis of this question helps to in a comparative analysis. As we have discussed that Vimal has no big direct competitor, so Vimal can grab the opportunity and make as possible as more clients. The reason of this can be that the accuracy rate of other companies were poor than Vimal Priority. Vimal uses technical analysis which is most advanced technology to determine the fluctuated digits of sensex and Nifty. So when a company can’t give a right accuracy level how can a person find reliability in the company. Hence in all four factors Vimal wins over the competitors.
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11. Are you satisfied with the current rates of the product of Vimal Priority? Intraday
Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
Frequency 19 208 11 28 34 300
Percent 6.3 69.3 3.7 9.3 11.3 100.0 Table no.16
Satisfaction for intraday package
9.3
11.3
6.3
Highly satisfied Satisfied
3.7
Neutral Dissatisfied 69.3
Highly dissatisfied
Satisfaction level for the intraday package of Vimal is showing very satisfactory product according to the customers of Vimal. As the result we can show that 69.3% customers are admit that they are satisfied from the services of the intraday package of Vimal. Further 11.3% customers are said that they are highly satisfied with it. Only 6.3% customers were Highly Satisfied. Generally overall 80.3% customers have no complains about intraday package. These remaining customers are dissatisfied or neutral may be because of the format of the service that three calls a day, customers might not follow all the three calls and hence they are not able to get a full advantage of the profit.
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Call and Put
Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
Frequency 31 179 25 17 48
Percent 10.3 59.7 8.3 5.7 16.0
300
100.0 Table no.17
Stisfaction for call and put package
16
10.3
highly satisfied
5.7
satisfied neutral
8.3
dissatisfied 59.7
highly dissatisfied
Again the result of this question shows that 70% customers are lies in the stat of satisfied or highly satisfied region. They are satisfied or highly satisfied from the service of Call and Put package of Vimal. The customers who are uses Call and Put option for investment they can secure their profit and limit their loss. So the satisfaction level is seems to be a high level and only 16% people are highly dissatisfied from the Call and Put option. The reason of may be the frequency of call in this option is less so the customers may be not able to interprets the message hence some customers are dissatisfied from call and put option.
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STBT and BTST
Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
Frequency 13 188 2 29 68 300
Perce nt 4.3 62.7 .7 9.7 22.7 100.0 Table no. 18
Satisfaction for BTST and STBT pack
22.7
4.3
highly satisfied satisfied neutral
9.7 0.7
dissatisfied 62.7
highly dissatisfied
Satisfaction level for the STBT and BTST is looking very nice as overall more than 67% customers are satisfied and only 9.7% are dissatisfied,22% customers are Highly Dissatisfied. Just because of that high volatile market for last ten months. And ‘buy today sell tomorrow is somewhat more risky and that’s why dissatisfaction shows more in this segment.
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Future and Options
Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
Frequency 10 215 7 55 13 300
Percent 3.3 71.7 2.3 18.3 4.3 100.0
Table no.19
Satisfaction forFuture and Option
18.3
4.3
3.3
Highly satisfied Satisfied
2.3
Neutral Dissatisfied 71.7
Highly dissatisfied
Here we can see from the graph that highest satisfaction level is noted in this feature of investment in equity. 71.7% customers are considering Future and Option as a best service and they are satisfies from the service of this package. The main reason for this satisfaction can be that company produces the most accurate analyses for this option. The customers also have a command in this option so they can obtain almost right option of investment and the period is also high so they can limit the loss also. Hence we can say that future and option is one of the best services of Vimal.
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Investment
Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
Frequency 68 156 13 23 40 300
Percent 22.7 52.0 4.3 7.7 13.3 100.0
Table no.20
Satisfaction for Investment
7.7
13.3
22.7
Highly satisfied Satisfied
4.3
Neutral Dissatisfied 52
Highly dissatisfied
Satisfaction for Investment option is looking less in the comparison of above options. 59.7% customers are satisfied with the service of Vimal. The reason for dissatisfaction for investment Option can be that today’s generation is more prefer short term investment and they did not wait for long time. So the profit in short time is not that much as in long term investment. Therefore this advice does not work at its best without information of the intention of investment either short time or long time. So without a customization advice is less effective. Hence therefore his dissatisfaction is seemed in Investment Option.
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Commodity
Frequency 70 94 7 97 32 300
Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
Percent 23.3 31.3 2.3 32.3 10.7 100.0 Table no.21
Satisfsfaction for commodity pack
10.7
23.3
highly satisfied satisfied neutral
32.3
dissatisfied 2.3
31.3
highly dissatisfied
In the case of commodity all together mix up we can easily see. Highest 31.3% customers are Highly Dissatisfied. Because we know he complexity of Indian commodity market that is MCX. The people attached with this are generally businessmen and that’s why they are trading in more than one commodity which does not included in the advice. So without any advice from Vimal they are trading and generally it happens that if they earn in one than they made loss in another, so the ultimately they con not earns super normal profits besides of heavy investment. Therefore dissatisfaction seemed so much in this option.
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Nifty
Highly satisfied Satisfied Dissatisfied Highly dissatisfied Total
Frequency Percent 26 8.7 169 56.3 46 15.3 59 19.7 300 100.0 Table no.22
Satisfaction for nifty pack
19.7
8.7 highly satisfied satisfied dissatisfied
15.3 56.3
highly dissatisfied
Again we can observe that 65% customers are satisfied from the services of Vimal. This option is now becoming more famous and famous. As the result Nifty is more favorite option for investment on equity market. Another noticeable thing we can see from the graph that highly dissatisfied customers are more in numbers. This is because the charges of this package is Rs 15000/- which is the most common complain of the customers who are taking Nifty Priority Package.
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12. Give following answer as per your experience with the employees of Vimal Priority.
Speech
Very poor Poor Neutral Good Very good Total
Frequency 42 34 12 172 40 300
Percent 14.0 11.3 4.0 57.3 13.3 100.0 Table no.23
Speech of employees
13.3
14 11.3
very poor poor neutral
4
good very good
57.3
This graph shows that 57.3% customers are believe that speech of the employees of Vimal is good and only 13.3% customers are believe it is very good. The problem for Vimal is that above 25% customers are thinking it is poor or very poor which was contrasting the above results.
Communication Hiren Raval, DBM, SPCE
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Very poor Poor Neutral Good Very good Total
Frequency 23 31 7 189 50 300
Percent 7.7 10.3 2.3 63.0 16.7 100.0 Table no.24
Communication power of employees
7.7
16.7
10.3 2.3
very poor poor neutral good very good
63
This result is in the favor of Vimal’s employees. Hence 63% customers accept that communication power of them is good and further 16.7% said that it is Very Good. Only 10.3 % and 7.7% said that it was poor and very poor respectively. So it was one of the reasons for the success of Vimal Priority.
Problem Solving Power
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Frequency 18 42 15 169 56 300
Very poor Poor Neutral Good Very good Total
Percent 6.0 14.0 5.0 56.3 18.7 100.0 Table no.25
Problem solving power of the employees
6
18.7
14
very poor 5
poor neutral good very good
56.3
As per the graph we can show that 56.3 and 18.7 percent customers admit that they rated problem solving power of the employees of Vimal is good and very good respectively. Only 6% customers are not agree with this and they rated this as very poor which is very normal. Sometimes some problems of the customers are regarding their Demat Account. So the employee of Vimal can’t help them.
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Overall Behavior
Very poor Poor Neutral Good Very good Total
Frequency Percent 18 7.7 42 12.3 15 2.7 169 24.3 56 53.0 300 100.0 Table no.26
overal bahavior of employees
6
18.67
Very poor
14 5
Poor Neutral Good
56.33
Very good
This result seemed more fruitful for the employees of Vimal. Highest 56.33% customers are lies in the region which indicates Good. Again second highest part lies in the region which indicates Very Good. Hence we can say that Vimal trained its employees so well that they are not give even a single chance of complaining.
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Knowledge
Very poor Poor Neutral Good Very good Total
Frequency 23 37 8 73 159 300
Percent 7.7 12.3 2.7 24.3 53.0 100.0 Table no.27
knowledge of the employees
7.7
12.3
Very poor 2.7
Poor Neutral Good
53 24.3
Very good
The results of the analysis of these question shows that the knowledge of the employees of Vimal is very good and 53% customers are agree on that. 24.3%said it is good. Again it is resultant only when company trained its employees so good that they are equipped with full-fledged information. So we can conclude that Vimal take care of its customers with its experienced and knowledgeable employees.
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CHAPTER-5
Conclusion of findings I have found that Vimal has very honest customers that from the analysis of the question one we can easily observe that the highest percentage of respondents are with the subscription of more than six months or six months. Another thing that I got from the research that the highest percentage of the respondents are from a high income that more than Rs 400000/- and having private job. Future and option is more favorable in the customers of Vimal and than Intraday came at the second place. More than 70% customers are agree to the statement that Vimal earns them more after taking advice of trading from Vimal. More than 70% customers are agreed that they are satisfied with the employees of Vimal. With the very high accuracy rate Vimal is live up to its customers expectations and this is not complete yet Vimal also fulfill its customers desires with its very nice reliability, timing of call and clarity of message. In general the customers are thinking that the services of Vimal are costly. But the highest percentages of respondents are agreed that its prices are reasonable. At the time of fieldwork I have observed that there is no close competitor for Vimal Priority. At present the competitor are who are presently available allover are a giant broking house like Angel Broking, Share khan, ICICI Direct, India Info line etc. hence there is a right chance to complete its goal of becoming India’s biggest advisory provider company.
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Almost 72% and 70% Customers are satisfies from the services of the Future and Option package & Intraday package of Vimal respectively. Overall satisfaction from the packages of Vimal provides satisfaction because average 55% customers admit that they are satisfied with the services of it. Employees of Vimal are actually a main reason for the satisfaction level of the customers and to provide them a pleasant experience of satisfaction. Vimal cultivate their employees so good that there are more than 60% average respondents are satisfied with the employees of Vimal regarding different factors like speech, communication, problem solving power, overall behavior and knowledge.
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Suggestions
From the results of the study it is clearly seemed that Vimal is very organized company that is have very punctual and disciplined manner of working. So there is no more suggestion for the firm. But I have tried to make some points on which company should consider. Vimal should consider a big amount of potential customers who are currently taking free service of advice along with broking. The services of Vimal are available on the basis of the one, three, six and twelve months so it can starts an introductory package of half month only with reasonable and lower margins. So that they can attract new customers. Mostly customers are considered the prices of Intraday and Future and Option is high that they cannot afford. So they should lower the prices of that packs. The marketing team of Vimal should make more efforts in the direction of the awareness of it in the general peoples and small investors. Vimal should train its employees with adequate knowledge so that its customers can not complain.
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Annexure
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DBM,SPCE,VISNAGAR
A Research Project for Satisfaction level for the customer of VIMAL PRIORITY An Questionnaire for customers Hiren Raval 6/30/2009
This questionnaire would enhance our convenience to understand our customer’s expectation from us and at which level we had fulfilled it. It would also help us to check out our customer’s satisfaction level relating to our service. It would also help us to directing our employees for live up to our customer’s expectation. This is a fully confidential and the information would be utilize for academic use only
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Satisfaction Level for the Customer of Vimal Priority
Respondent’s Profile
NAME
: ______________________________
AGE
: ________________
GENDER
: ________________
OCCUPATION : _______________
INVESTMENT : RS _____________
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1. How long you have taken services from Vimal priority?
One month Three month Six month More than six month 2. Your occupation is…. Government Job
Private Job
Business
Student
Self Employed Housewife 3. Your income per month is….. Rs 0-10,000 / Rs 10,000-25,000/ Rs 25,0000-40,000/ Above Rs 40,000/4. Which service you are currently taking from Vimal Priority?
Intraday Call and Put Future and Option STBT and BTST Nifty Priority Investment Commodity
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5. Do you think that Vimal’s advice earns you more?
Highly Agree
Agree
Can’t say
Disagree
Highly Disagree
6. Are you satisfied from the employees of Vimal Priority?
Highly satisfied
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Satisfied
Neutral
Dissatisfied
Highly dissatisfied
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7. How is your experience with Vimal Priority regarding to following factors?
Very Poor
Poor
Neutral
Good
Very Good
Accuracy Reliability Timing Clarity
8. What do you think, about the price of the packages of Vimal Priority are…
Very low
Reasonable
Neutral
Costly
Very costly
9. Have you ever taken advisory service from anyone else?
Yes No If YES than which is that? Please. Specify________ 10. In comparison of Vimal Priority your previous advisory company, is…..
Very Poor
Poor
Neutral
Good
Very Good
Accuracy Reliability Timing Clarity
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11. Are you satisfied with the current rates of the product of Vimal Priority?
Highly satisfied Satisfied
Neutral Dissatisfied
Highly dissatisfied
Intraday Call and Put STBT and BTST Future and Options Investment Commodity Nifty
12. Give following answer as per your experience with the employees of Vimal Priority.
Very Poor
Good
Neutral
Very Good
Excel lent
Speech Communication Problem Solving Power Overall Behavior Knowledge
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13. If you want to give any suggestion for the improvement of the services of Vimal
Priority… Suggestion:
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Bibliography
A. Books •
Business Research Methodology ( Luke and Rubin)
•
Human Resource Management (Ashwathapa)
B. Reports •
Technical analysis (Jasmine Vagasiya)
•
How to became good investor in Forex market
•
Vimal Priority product presentation
C. Websites •
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www.Vimalcorporate.com
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Prepared by:
Hiren Raval MBA (3rd Semester), 2008-09 Under the Guidance of: Siddik Kadiwala Department of Business Management,
Sankalchand Patel College of Engineering, Visnagar HEMCHANDRACHARYA NORTH GUJARAT UNIVERSITY, PATAN.
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DECLARATION
I, Mr. Hiren.Raval, student of Department of Business Management, S.P. College of Engineering, and Visnagar affiliated to Hemchandracharya North Gujarat University, hereby declare that this project report is a result of culmination of my sincere efforts. I declare that this submitted work is done solely by me and to the best of my knowledge no such work has been submitted by any other person for the award of degree or diploma. I also declare that all the information collected from various secondary sources has been duly acknowledged in this project report.
Name: Hiren.Raval Signature:
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CERTIFICATE
This is to certify that Mr. Hiren.Raval has satisfactorily completed the project work entitled, “Satisfaction level for the customer of Vimal Priority”. Based on the declaration made by the candidate and my association as a guide for carrying out this work, I recommended this project report for evaluation as a part of the MBA programme of Hemchandracharya North Gujarat University, Patan.
Place: Ahmadabad Date:
Guided By: Siddik kadiwala
The project is forwarded for evaluation to Hemchandracharya North Gujarat University, Patan.
Place: Visanagar Date:
(Principal)
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ACKNOWLEDGEMENT
I take this opportunity to express my sincere gratitude to each & every person who has directly or indirectly helped me through this Summer Internship Project. My training experience at Vimal Priorities Ltd. has been truly a fulfilling and rewarding one. I extend my sincere thanks to Mr. Arpan Desai, Branch Manager Vimal Priorities Ltd. for giving me the opportunity to work with this company and carry out my project work. The present study is carried out under the supervision and guidance of Mr. Vallabh Marfatia Technical Analyst. It is my pleasure to express my sincere gratitude for his continuous support and guidance which helped me in accomplishing this project successfully. I thank him for providing his invaluable time, support, and co-operation to complete my project work. I also thank Mr. Jasmine Vaghasia, Technical Analyst and Mr.Tarun sir, B.D.M for his valuable and continuous guidance and coordination in my project. The credit to my performance cannot go without the support and guidance of my faculty incharge Bhavesh Parmar, Faculty DBM,SPCE. He has been of valuable guidance and inspiration in the said work. I also express my gratitude to all the employees of Vimal Priorities for sharing their knowledge and experience and for their invaluable guidance and support.
Lastly, I must thank my friends, who helped me directly and indirectly to accomplish my project.
Regards and Thanks
Hiren Raval Enrollment No.-19 DBM,SPCE, Visnagar
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List of Table Table number
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Page
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Executive summary This report contains the main objective that to measure a satisfaction level of the customers for Vimal Priority. This is a most common thing for any company to find out that their customers are either satisfied from its services or not and if they are satisfied than at which extend customers are satisfied. I have tried in this research to find out the factors on which factors the customers are dissatisfied how much the severity of this dissatisfaction. I feel so lucky that I got a chance to learn these much practical knowledge and fieldwork. Again company helped me so much that I can get the knowledge of Share Market. To analyze the topic I used appropriate questions so that I can have accurate analysis of their satisfaction stat. With the help of my respective guides I had structured the question in a way that I can got a real picture of the satisfaction level. I have used Likert scale, Dichotomous scale and Semantic differential scale to structure the question and also use open ended questions. To analyze the answers I had mostly used percentages. I had also uses graphs to analyze the findings in detail. From my analyses I find that customers of Vimal Priority are satisfied with the services of Vimal. Customers are looking more than only satisfied in the matter of accuracy, reliability, timing of call, and clarity of message. As far as its employees are concern Vimal also live up to its customers expectations and they are satisfied in the performance of its employees. But I find that Vimal should decrease its price of the packages of Intraday priority and Nifty Priority.
Chapter-1 Hiren Raval, DBM, SPCE
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Introduction of organization
But we represent..
ABOUT VIMAL PRIORITY
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VIMAL PRIORITY is an Ahmedabad based leading research and advisory based company with a governing position in both Institutional and Retail industries. We have been rated top by many renowned independent research and investors. It multitude of services to suit all kind of players in Indian stock market under brand name of Vimal Priority, Vimal Stocks and Vimal Commodities. We offer Intraday, F&O, Jackpot calls, Delivery, Nifty which aids to Investors, Traders and Portfolio Advisories personnel. All services are provided through SMS, Messenger and Relationship management. More and more investors and traders are getting attracted to Intraday and Intraday F&O - Trading to make quick money but often make huge losses in absence of any knowledge, strategy or discipline required for Day or Short Term trading. Only handful smart traders/investors are able to make money in both Rising as well as Falling Market. We at Vimal priority are committed in helping our investors and traders to benefit from Indian Stock Market by adopting a reasonably correct strategy with discipline. SIP AT VIMAL PRIORITY During our sip of 1 and half months, we have done and learned many things… we have done marketing, selling, learning technical Analysis of scripts, forex and different commodities like crude as well. Here it is briefly summarized what we have done during our sip tenure. 1st phase: First phase was of first 7 days and during that we were given introduction about different products of what Vimal securities are offering, its price and how that prices were determined.
The various products offered by Vimal Priorities are as follows:
Bulls eye priority : The main objective of this product was to make profit from nifty trading, call and put, STBT,BTST,. The price of this product is Rs. 50,000/- per month.
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Investment priority: investment priority focuses on investment opportunities in the market and assures return up to 50%. The price of this pack is Rs.20000. Nifty priority: Nifty priority’s aim is of short term capital growth and focuses only on nifty trading. The price of this pack is Rs. 15000. Call and put priority: Call and put priority aim is short term income generation via call and put trading in the market. This is available at Rs.5000.
BTST ABD STBT Priority: Buy today and sell tomorrow and sell tomorrow and buy today gives attractive return of 25%.and price of this is Rs.5000. Future priority: Future priority avails short term income generation through F & O. this is available at Rs.25000. Pre –market Priority: In this very unique and attractive product, a customer gets call before market opening and he will trade only on those calls which he has got in the morning. This product is available at Rs.1000. 2nd phase: After introduction and basic understanding of these products we were taught to Define Target market (Like Sub-brokers, Retailers, HNIs, and Jewelers etc.). Then we learned How to pitch those identified customers After that our rigorous phase of our S.I.P. began and it was fully focused on marketing and selling of products. In this second phase, we met more than 200 customers of all sectors and segments from Sub-brokers, Retailers, Government employees, Jewelers, different stock broking houses of different areas of Ahmadabad. During sip at Vimal we learned more marketing rather than anything. We have done both marketing and selling successfully in different areas of Ahmadabad like Ahmadabad stock exchange, Paldi Bhatta, ashram road, satellite, C.G.Road, S.G.Highway and so on..We have covered almost all the areas of west Ahmadabad. During the S.I.P on few Saturdays special lectures where conducted for us by the technical analyst present there in the office which helped us a lot in increasing our knowledge in the field of technical analysis. Sometime, we were also allowed to sit with them and watch what they do during market hours, which was also a great learning experience to us.
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Chapter-2
Organization Structure
Vijay Shah (Chairma Darshan Shah
Nilesh Oja
(CEO)
Business
Ashish Shah
Business Developme nt officer
Vice President
Arpan Desai AVP
Team leader
Executive
TELE CALLER
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Departmental study Marketing department Vimal priority is India’s largest advisory provider for NSE and Nifty. Vimal priority has its own well structured planned strategy for its more than 12000 customers in all over India. Vimal marketed its services via today’s advanced channels of communication. Vimal priority did the marketing campaign through print media as well as through internet. Vimal specially used to send a SMS fire to the random customers of the other organization or to the ordinary people without having of any information about them. Vimal priority gives its advertisement in famous newspaper e.g.: In Gujarat, Gujarat samachar, Divya Bhaskar and Times of India Apart from it Vimal has its own web site with online payment facility. Vimal corporate markets its services via some money shows at many places around India. e.g: Ahmedabad, Chandigadh Hence Vimal priority has its own marketing team who makes marketing strategy and its own marketing decisions.
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Human Resource department As Vimal is India’s largest advisory provider and hence it has to maintain and keep its employees ready to serve as Vimal’s motto is ”Service Which Serves Better” Recruitment Process Vimal Priority is very alert in maintain its staff self sufficient and skilled.Vimal riority gives its classifieds of requirement through print media and asking for appropriate formal requests or application Selection Process Vimal has a selection process which is the most reliable and traditional and that is through personnel interview. Vimal Priority invites appropriate applicants for interview.This applicants has to pass out from a though interview and has to satisfy experienced interviewer
Performance Appraisal Vimal motivates its employees through different kind of motivation tools. Vimal offers annual, month ending, occasional, festival discounts for its employees to support them and helping them to fulfill their goals. Vimal assigns a measurable and achievable but yet challenging goals with individual capacity of fulfilling the goal. Vimal has a super skilled and prepared employee team which is working directly under CEO of the company. Vimal also offers special gifts or vouchers for its employees. Employees Welfare schemes Vimal provide med claims to its employees. Incentives Vimal priority gives 10% of salary as an incentive to the employees after the completion of their specific goals. Besides that further it provides more premium incentives when their employee achieving extra ordinary tasks. It also organizes annual or quarter ending ceremonies to encourage its employees and gives special rewards.
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Finance department Corporate office Vimal Priority 7th floor, Suyojan Building, Near President Hotel, Navrangpura, Ahmedabad-380009. Web-www.vimalpriority.com [email protected]
IT department Company is working upon fully automatic equipments with advanced software. As the job of the company is very hard to predict about the Sensex and Nifty. So to giving the perfect and accurate prediction to the customers, it is very hard to analyze, so company is using Technical Analysis.
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1. Technical Analysis What is Technical Analysis? Technical Analysis is the forecasting of future financial price movements based on an examination of past price movements. Like weather forecasting, technical analysis does not result in absolute predictions about the future. Instead, technical analysis can help investors anticipate what is "likely" to happen to prices over time. Technical analysis uses a wide variety of charts that show price over time. Technical analysis is applicable to stocks, indices, commodities, futures or any tradable instrument where the price is influenced by the forces of supply and demand. Price refers to any combination of the open, high, low, or closes for a given security over a specific time frame. The time frame can be based on intraday (1-minute, 5-minutes, 10-minutes, 15-minutes, 30-minutes or hourly), daily, weekly or monthly price data and last a few hours or many years. In addition, some technical analysts include volume or open interest figures with their study of price action. The Basis of Technical Analysis At the turn of the century, the Dow Theory laid the foundations for what was later to become modern technical analysis. Dow Theory was not presented as one complete amalgamation, but rather pieced together from the writings of Charles Dow over several years. Of the many theorems put forth by Dow, three stand out: • • •
Price Discounts Everything Price Movements Are Not Totally Random What Is More Important than Why
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PART-2 CHAPTER-1 Introduction
Advisory provider company Vimal is the largest of India. It has more than 12000 customers. It is essential to know about the satisfaction level for the company. Company is now looking to grow it local level and it is planning to increase its branches so it is necessary to add more and more customers. At the same time it is again important to retain old customers since competition is now increasing day by day. Hence this research report will give the basic knowledge about the satisfaction of the customers and their expectation from the company and at which level company succeeds to fulfill it.
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CHAPTER-2 Statement of the problem “Satisfaction level for the customers of Vimal Priority” Objective •
For the Organization This research project would be helpful to provide the service according to the customer’s expectations and would be helpful to enhance the satisfaction level of the customers.
•
For the Researcher It would provide the basic information about the stock market and will give the basic knowledge about the customer’s expectations from a company.
Sub Objective •
Factors responsible for the satisfaction of the customers
•
Analyze the parameters for the satisfaction level
Methodology After collecting primary and secondary data It also contains an information from 300 customers of Vimal Priority with the help of questionnaire. Sampling Sampling pattern is to send E-mails to the customer of Vimal Priority. Source of Data •
Company’s corporate website
•
Customer data base from the company
Scaling Method I have use Likert Scale, rating Scale. Also I have use rank order Scale and an agreement & disagreement series
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Tools for Data Collection •
Primary data through questionnaire
•
Secondary data through the corporate website and company brochures
Fieldwork I have completed the fieldwork doing marketing for the company. During the summer training programme we are used to meet the brokers and their clients and talk with them about the company’s service and products and give them our contact numbers. If they are looking interested then only we provide them free trial of one day as per their requirement. At last we used to take the follow up.
Analysis The preplanned analysis through thoughtful and meaningful questions.
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Part-B Limitation of the study The limitations of the study are as follows. 1. This study is done in a short period of time span. Only in one month and ten days this
study I have to complete. So this was a main limitation of the study. I have to complete all my practical learning and that’s why I have collect the information and data which may be insufficient for the further learning or research work. 2. Another big limitation is that Vimal does not agree to disclose the information of its
customers. Hence I have to rely on the information which company provides to me. 3. I have to send questionnaires through the mail so there could be a lake of interpretation
and I cannot meet them face to face or can’t solve the problem regarding questions. 4. I cannot collect Some confidential information which is not given to me by the company
because of their policy E.g. Financial information ,balance sheet, last year’s turn over etc.
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CHAPTER-3 Respondent’s profile The respondents are bifurcated as per their age, gender, income, occupation and investment. All the respondents are from the all over of India. Respondents are a current customers of Vimal and they are selected without any restriction of gender, age, income, religion, demographic or occupation.
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CHAPTER-4
Analysis of the Questionnaire
Here following is the total analysis of the all questions. Hiren Raval, DBM, SPCE
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1.How long you have taken services from Vimal priority?
One month Three month Six month More than six month Total
Frequency 64 95 112 29 300
Percent 21.3 31.7 37.3 9.7 100.0
Table no.
costomer's attachment with the company 40 35 30 25 20 15 10 5 0
37.3 31.7 21.3 9.7
one month
three month
Series1
six month more than six month
This result is shows that company has very honest customer profile. Customers who are once attached with Vimal are very honest to the company and show their faith in the company. So 37.3% customers are sticks with the company for more than six months. Second highest customers join the company for three months.
1. Your occupation is…. Hiren Raval, DBM, SPCE
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Govt. job Private job Business Self employed Student House wife Total
Frequency 18 127 81 11 37 26 300
Percent 6.0 42.3 27 3.7 12.3 8.7 100.0
Table no. 1
occupatin of the customers
8.7
12.3
6
govt job private job
3.7
business 42.3 27
self employed student house wife
Here we can show that people of private job showing a great interest in stock market and choosing equity as a better option of investment. They choose to invest with the minimum risk and that’s why they taking best advice. And businessmen are obviously at second highest position and at last students are also showing great interest in taking advisory service.
2. Your income per month is….
Frequency 0 toDBM, 10000 Hiren Raval, SPCE 10000 to 25000 25000 to 40000 More than 40000 Total
19 73 81 127 300
Percent 6.3 24.3 27.0 42.3 100.0
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Table no.2
income of the customer 45 40 35 30 25 20 15 10 5 0
42.3
24.3
27 Series1
6.3 0 to 10000
10000 to 25000
25000 to 40000
more than 40000
This graph indicates that subscription of Vimal is directly proportional to the income of the customers of vimal.high income, high possibility of purchasing of advisory service. So this indicates that Vimal should target to the high profile customers. Income of more than 40000 have the highest proportion and second highest is the people with the income 10000 to 25000.
3. Which service you are currently taking from Vimal Priority? Hiren Raval, DBM, SPCE
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Frequency 67 53 102 24 35 11 8 300
Intraday Call & Put Future & Option STBT& BTST Nifty Investment Commodity Total
Percent 22.3 17.7 34.0 8.0 11.7 3.7 2.7 100.0
Table no.3
subsrciption of customers
11.7
3.7
2.7
intrday
22.3
call & put
8
f& o stbt & btst 17.7 34
nifty investment commodity
This graph shows that Future and Option is the most favorite for the customers of Vimal still. May be because of the degree of the security of their investment. Intraday secures second place with 22.3%.for the same reason may be Call and Put have third position
4. Do you think that Vimal’s advice earns you more? Hiren Raval, DBM, SPCE
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Highly agree Agree Neutral/can't say Disagree Highly disagree Total
Frequency 23 212 22 30 13 300
Percent 7.7 70.7 7.3 10.0 4.3 100.0 Table no.4
customer's view about earnings
10
4.3
7.7
Highly agree
7.3
Agree neutral/can't say Disagree 70.7
Highly disagree
This question is specially analyses the overall satisfaction level of the customers of Vimal. This result is very satisfactory for the Vimal as overall the satisfaction level of the Vimal Priority is 70.7%. So 70.7% customers of Vimal agreed that Vimal earns more for them. Besides that only 10% customers shows aggressive disagreement fore that which is great for Vimal.
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5. Are you satisfied from the employees of Vimal Priority?
Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
Frequency 14 216 30 29 11 300
Percent 4.7 72.0 10.0 9.7 3.7 100.0
Table no.5
customers overall satisfaction
9.7
3.7
4.7 highly satisfied
10
satisfied neutral dissatisfied 72
highly dissatisfied
This graph indicates the main result of my main objective of this questionnaire. Here Vimal grabs its customers’ expectations into reality and that’s why 72% customers are says that they are satisfied and 4.7% customers are Highly Satisfied. Overall satisfaction level of Vimal is very well and so only 3.7% are Highly Dissatisfied.
Hiren Raval, DBM, SPCE
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6. How is your experience with Vimal Priority regarding to following factors?
Accuracy
Frequency Very poor Poor Neutral Good Very good Total
Percent
20 26 2 240 12 300
6.7 8.7 .7 80.0 4.0 100.0
Table no.6
This results says that Vimal is almost looking to fulfill its claim that they giving more than 85% ratio of of success. Hence Vimal is very honest company which almost done what they claimed. 80% customers have a view that accuracy rate of Vimal priority is good. 4% customers accept that it is very good. Only 6.7% customer thinks that it is very poor. The reason is that tips that Vimal provide, customer have to follow all the calls. Hence the customer who does not follows all the calls are complaining about the loss they made.
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Reliability
Very poor Poor Neutral Good Very good Total
Frequency 21 30 12 201 36 300
Percent 7.0 10.0 4.0 67.0 12.0 100.0 Table no.7
67% customer shows their faith in Vimal and they believe that Vimal is a reliable firm while taking decision of investment for equity market. While only 7% customers did not have faith in Vimal. I think that might the people who can not follow the instructions given by Vimal. Sometimes customers were not be able to interprets the message or call. So that’s why only 7% customers are not satisfied with the reliability of the company. The relief for the company was that 12% customers are rated reliability of Vimal as Very Good.
Hiren Raval, DBM, SPCE
Page 28
Timing
Very poor Poor Neutral Good Very good Total
Frequency 11 49 3 168 69 300
Percent 3.7 16.3 1.0 56.0 23.0 100.0 Table no.8
This one is somewhat noticeable for the company. The customers does not comfortable with the timing of the call may be because of the technical faults. Generally sometime we all have an experience that text messages are coming late even though of good format or the timing of messages sending. And the other source of the tips collection that is yahoo messenger sometimes does not work properly. So this could be the reason of the lateness of messages. But the big relief for the company is above 55% customers having no problems in getting right tips at right time.
Hiren Raval, DBM, SPCE
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Clarity
Frequency Very poor Poor Neutral Good Very good Total
Percent 14 36 7 176 67 300
4.7 12.0 2.3 58.7 22.3 100.0
Table no.9
This graph shows that above 58% customers have no problems in interpreting message. While 22.3% customers are having a same view that they have no problem of interpretation of the message. Hence only 4.7% grade the company as a Very Poor in clarity of the message which was negligible.
Hiren Raval, DBM, SPCE
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8. What do you think, about the price of the packages of Vimal Priority are.
Frequency 22 156 13 64 45 300
Very low Reasonable Neutral Costly Very costly Total
Percent 7.3 52.0 4.3 21.3 15.0 100.0 Table no.10
price of the packages
15
7.3 very low reasonable neutral
21.3
costly 4.3
52
very costly
Here we can analyze that only 15% people think that services of Vimal are very costly. Against that 52% customers accept that services of Vimal are reasonable. The reason of this result is may be because of the assuredly. Vimal claims that they would give all the money back if they could not make their customers 30% profit. Which is very challenging job for Vimal and that’s why they take the help of Technical Analysis which is done by a team of 12 to 15 members. Which is quite costly task and therefore the cost cutting is next to impossible task again.
Hiren Raval, DBM, SPCE
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9. Have you ever taken advisory service from anyone else?
Yes No Total
Frequency 33 267 300
Percent 11.0 89.0 100.0 Table no.11
Services taken before Vimal
11
yes no
89
This question refers that there is a bright future in this industry because the market of advisory service is looking so much saturated as we know that India Info line, Share khan, Angel Broking, Religare etc. are old, giant and famous firms for advisory service. But this all firms are indirect competitors as they are a big broking houses and they provide free service of advice while Vimal Priority is the only advisory company with a this large customer bank. Here are very small and local firms like Rushabh Advice, Shree SMS Service, etc. Hence the customers seeks to take advice if they find trust in any company then they would likely take a n accurate advice in the today’s volatile market to secure their investments and to increase their profit.
Hiren Raval, DBM, SPCE
Page 32
10. In comparison of Vimal Priority your previous advisory company, is…..
Accuracy
Table no.12
Very poor Poor Neutral Good Very good Total
Accuracy of previus company
Percent 60.7 23.7 4.3 5.3 6.0 100.0
very poor poor neutral good very good
Reliability Table no.13
Very poor Poor Neutral Good Very good Total
reliability of previous company
Percent 52.0 35.7 1.3 6.7 4.3 100.0
1.3 6.7
very poor poor neutral
35.7
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4.3
52
good Very good
Page 33
Timing Table no.14 Very poor Poor Neutral Good Very good Total
timing for call of previous company
Percent 65.3 17.7 2.0 9.3 5.7 100.0
2
9.3
5.7 very poor poor neutral
17.7
good 65.3
very good
Clarity Table no.15 Very poor Poor Neutral Good Very good Total
clarity of call for previous cmpany
Percent 17.0 43.0 2.7 23.3 14.0 100.0
14
17 very poor poor neutral
23.3
good 2.7
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43
very good
Page 34
As per the graphs of above we can clearly obtain that Vimal Priority is better company than their previous company so far. As we can clearly see that Vimal gives strong defeat all factors like in accuracy, reliability, timing of call and Clarity of message.60.2%, 52%, 65.3% customers thinks that their previous company was Very Poor in accuracy, reliability, and timing respectively. At last 43% customers accept that their previous company was Poor in Timing of call. Here the analysis of this question helps to in a comparative analysis. As we have discussed that Vimal has no big direct competitor, so Vimal can grab the opportunity and make as possible as more clients. The reason of this can be that the accuracy rate of other companies were poor than Vimal Priority. Vimal uses technical analysis which is most advanced technology to determine the fluctuated digits of sensex and Nifty. So when a company can’t give a right accuracy level how can a person find reliability in the company. Hence in all four factors Vimal wins over the competitors.
Hiren Raval, DBM, SPCE
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11. Are you satisfied with the current rates of the product of Vimal Priority? Intraday
Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
Frequency 19 208 11 28 34 300
Percent 6.3 69.3 3.7 9.3 11.3 100.0 Table no.16
Satisfaction for intraday package
9.3
11.3
6.3
Highly satisfied Satisfied
3.7
Neutral Dissatisfied 69.3
Highly dissatisfied
Satisfaction level for the intraday package of Vimal is showing very satisfactory product according to the customers of Vimal. As the result we can show that 69.3% customers are admit that they are satisfied from the services of the intraday package of Vimal. Further 11.3% customers are said that they are highly satisfied with it. Only 6.3% customers were Highly Satisfied. Generally overall 80.3% customers have no complains about intraday package. These remaining customers are dissatisfied or neutral may be because of the format of the service that three calls a day, customers might not follow all the three calls and hence they are not able to get a full advantage of the profit.
Hiren Raval, DBM, SPCE
Page 36
Call and Put
Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
Frequency 31 179 25 17 48
Percent 10.3 59.7 8.3 5.7 16.0
300
100.0 Table no.17
Stisfaction for call and put package
16
10.3
highly satisfied
5.7
satisfied neutral
8.3
dissatisfied 59.7
highly dissatisfied
Again the result of this question shows that 70% customers are lies in the stat of satisfied or highly satisfied region. They are satisfied or highly satisfied from the service of Call and Put package of Vimal. The customers who are uses Call and Put option for investment they can secure their profit and limit their loss. So the satisfaction level is seems to be a high level and only 16% people are highly dissatisfied from the Call and Put option. The reason of may be the frequency of call in this option is less so the customers may be not able to interprets the message hence some customers are dissatisfied from call and put option.
Hiren Raval, DBM, SPCE
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STBT and BTST
Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
Frequency 13 188 2 29 68 300
Perce nt 4.3 62.7 .7 9.7 22.7 100.0 Table no. 18
Satisfaction for BTST and STBT pack
22.7
4.3
highly satisfied satisfied neutral
9.7 0.7
dissatisfied 62.7
highly dissatisfied
Satisfaction level for the STBT and BTST is looking very nice as overall more than 67% customers are satisfied and only 9.7% are dissatisfied,22% customers are Highly Dissatisfied. Just because of that high volatile market for last ten months. And ‘buy today sell tomorrow is somewhat more risky and that’s why dissatisfaction shows more in this segment.
Hiren Raval, DBM, SPCE
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Future and Options
Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
Frequency 10 215 7 55 13 300
Percent 3.3 71.7 2.3 18.3 4.3 100.0
Table no.19
Satisfaction forFuture and Option
18.3
4.3
3.3
Highly satisfied Satisfied
2.3
Neutral Dissatisfied 71.7
Highly dissatisfied
Here we can see from the graph that highest satisfaction level is noted in this feature of investment in equity. 71.7% customers are considering Future and Option as a best service and they are satisfies from the service of this package. The main reason for this satisfaction can be that company produces the most accurate analyses for this option. The customers also have a command in this option so they can obtain almost right option of investment and the period is also high so they can limit the loss also. Hence we can say that future and option is one of the best services of Vimal.
Hiren Raval, DBM, SPCE
Page 39
Investment
Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
Frequency 68 156 13 23 40 300
Percent 22.7 52.0 4.3 7.7 13.3 100.0
Table no.20
Satisfaction for Investment
7.7
13.3
22.7
Highly satisfied Satisfied
4.3
Neutral Dissatisfied 52
Highly dissatisfied
Satisfaction for Investment option is looking less in the comparison of above options. 59.7% customers are satisfied with the service of Vimal. The reason for dissatisfaction for investment Option can be that today’s generation is more prefer short term investment and they did not wait for long time. So the profit in short time is not that much as in long term investment. Therefore this advice does not work at its best without information of the intention of investment either short time or long time. So without a customization advice is less effective. Hence therefore his dissatisfaction is seemed in Investment Option.
Hiren Raval, DBM, SPCE
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Commodity
Frequency 70 94 7 97 32 300
Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
Percent 23.3 31.3 2.3 32.3 10.7 100.0 Table no.21
Satisfsfaction for commodity pack
10.7
23.3
highly satisfied satisfied neutral
32.3
dissatisfied 2.3
31.3
highly dissatisfied
In the case of commodity all together mix up we can easily see. Highest 31.3% customers are Highly Dissatisfied. Because we know he complexity of Indian commodity market that is MCX. The people attached with this are generally businessmen and that’s why they are trading in more than one commodity which does not included in the advice. So without any advice from Vimal they are trading and generally it happens that if they earn in one than they made loss in another, so the ultimately they con not earns super normal profits besides of heavy investment. Therefore dissatisfaction seemed so much in this option.
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Nifty
Highly satisfied Satisfied Dissatisfied Highly dissatisfied Total
Frequency Percent 26 8.7 169 56.3 46 15.3 59 19.7 300 100.0 Table no.22
Satisfaction for nifty pack
19.7
8.7 highly satisfied satisfied dissatisfied
15.3 56.3
highly dissatisfied
Again we can observe that 65% customers are satisfied from the services of Vimal. This option is now becoming more famous and famous. As the result Nifty is more favorite option for investment on equity market. Another noticeable thing we can see from the graph that highly dissatisfied customers are more in numbers. This is because the charges of this package is Rs 15000/- which is the most common complain of the customers who are taking Nifty Priority Package.
Hiren Raval, DBM, SPCE
Page 42
12. Give following answer as per your experience with the employees of Vimal Priority.
Speech
Very poor Poor Neutral Good Very good Total
Frequency 42 34 12 172 40 300
Percent 14.0 11.3 4.0 57.3 13.3 100.0 Table no.23
Speech of employees
13.3
14 11.3
very poor poor neutral
4
good very good
57.3
This graph shows that 57.3% customers are believe that speech of the employees of Vimal is good and only 13.3% customers are believe it is very good. The problem for Vimal is that above 25% customers are thinking it is poor or very poor which was contrasting the above results.
Communication Hiren Raval, DBM, SPCE
Page 43
Very poor Poor Neutral Good Very good Total
Frequency 23 31 7 189 50 300
Percent 7.7 10.3 2.3 63.0 16.7 100.0 Table no.24
Communication power of employees
7.7
16.7
10.3 2.3
very poor poor neutral good very good
63
This result is in the favor of Vimal’s employees. Hence 63% customers accept that communication power of them is good and further 16.7% said that it is Very Good. Only 10.3 % and 7.7% said that it was poor and very poor respectively. So it was one of the reasons for the success of Vimal Priority.
Problem Solving Power
Hiren Raval, DBM, SPCE
Page 44
Frequency 18 42 15 169 56 300
Very poor Poor Neutral Good Very good Total
Percent 6.0 14.0 5.0 56.3 18.7 100.0 Table no.25
Problem solving power of the employees
6
18.7
14
very poor 5
poor neutral good very good
56.3
As per the graph we can show that 56.3 and 18.7 percent customers admit that they rated problem solving power of the employees of Vimal is good and very good respectively. Only 6% customers are not agree with this and they rated this as very poor which is very normal. Sometimes some problems of the customers are regarding their Demat Account. So the employee of Vimal can’t help them.
Hiren Raval, DBM, SPCE
Page 45
Overall Behavior
Very poor Poor Neutral Good Very good Total
Frequency Percent 18 7.7 42 12.3 15 2.7 169 24.3 56 53.0 300 100.0 Table no.26
overal bahavior of employees
6
18.67
Very poor
14 5
Poor Neutral Good
56.33
Very good
This result seemed more fruitful for the employees of Vimal. Highest 56.33% customers are lies in the region which indicates Good. Again second highest part lies in the region which indicates Very Good. Hence we can say that Vimal trained its employees so well that they are not give even a single chance of complaining.
Hiren Raval, DBM, SPCE
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Knowledge
Very poor Poor Neutral Good Very good Total
Frequency 23 37 8 73 159 300
Percent 7.7 12.3 2.7 24.3 53.0 100.0 Table no.27
knowledge of the employees
7.7
12.3
Very poor 2.7
Poor Neutral Good
53 24.3
Very good
The results of the analysis of these question shows that the knowledge of the employees of Vimal is very good and 53% customers are agree on that. 24.3%said it is good. Again it is resultant only when company trained its employees so good that they are equipped with full-fledged information. So we can conclude that Vimal take care of its customers with its experienced and knowledgeable employees.
Hiren Raval, DBM, SPCE
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CHAPTER-5
Conclusion of findings I have found that Vimal has very honest customers that from the analysis of the question one we can easily observe that the highest percentage of respondents are with the subscription of more than six months or six months. Another thing that I got from the research that the highest percentage of the respondents are from a high income that more than Rs 400000/- and having private job. Future and option is more favorable in the customers of Vimal and than Intraday came at the second place. More than 70% customers are agree to the statement that Vimal earns them more after taking advice of trading from Vimal. More than 70% customers are agreed that they are satisfied with the employees of Vimal. With the very high accuracy rate Vimal is live up to its customers expectations and this is not complete yet Vimal also fulfill its customers desires with its very nice reliability, timing of call and clarity of message. In general the customers are thinking that the services of Vimal are costly. But the highest percentages of respondents are agreed that its prices are reasonable. At the time of fieldwork I have observed that there is no close competitor for Vimal Priority. At present the competitor are who are presently available allover are a giant broking house like Angel Broking, Share khan, ICICI Direct, India Info line etc. hence there is a right chance to complete its goal of becoming India’s biggest advisory provider company.
Hiren Raval, DBM, SPCE
Page 48
Almost 72% and 70% Customers are satisfies from the services of the Future and Option package & Intraday package of Vimal respectively. Overall satisfaction from the packages of Vimal provides satisfaction because average 55% customers admit that they are satisfied with the services of it. Employees of Vimal are actually a main reason for the satisfaction level of the customers and to provide them a pleasant experience of satisfaction. Vimal cultivate their employees so good that there are more than 60% average respondents are satisfied with the employees of Vimal regarding different factors like speech, communication, problem solving power, overall behavior and knowledge.
Hiren Raval, DBM, SPCE
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Suggestions
From the results of the study it is clearly seemed that Vimal is very organized company that is have very punctual and disciplined manner of working. So there is no more suggestion for the firm. But I have tried to make some points on which company should consider. Vimal should consider a big amount of potential customers who are currently taking free service of advice along with broking. The services of Vimal are available on the basis of the one, three, six and twelve months so it can starts an introductory package of half month only with reasonable and lower margins. So that they can attract new customers. Mostly customers are considered the prices of Intraday and Future and Option is high that they cannot afford. So they should lower the prices of that packs. The marketing team of Vimal should make more efforts in the direction of the awareness of it in the general peoples and small investors. Vimal should train its employees with adequate knowledge so that its customers can not complain.
Hiren Raval, DBM, SPCE
Page 50
Annexure
Hiren Raval, DBM, SPCE
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DBM,SPCE,VISNAGAR
A Research Project for Satisfaction level for the customer of VIMAL PRIORITY An Questionnaire for customers Hiren Raval 6/30/2009
This questionnaire would enhance our convenience to understand our customer’s expectation from us and at which level we had fulfilled it. It would also help us to check out our customer’s satisfaction level relating to our service. It would also help us to directing our employees for live up to our customer’s expectation. This is a fully confidential and the information would be utilize for academic use only
Hiren Raval, DBM, SPCE
Page 52
Satisfaction Level for the Customer of Vimal Priority
Respondent’s Profile
NAME
: ______________________________
AGE
: ________________
GENDER
: ________________
OCCUPATION : _______________
INVESTMENT : RS _____________
Hiren Raval, DBM, SPCE
Page 53
1. How long you have taken services from Vimal priority?
One month Three month Six month More than six month 2. Your occupation is…. Government Job
Private Job
Business
Student
Self Employed Housewife 3. Your income per month is….. Rs 0-10,000 / Rs 10,000-25,000/ Rs 25,0000-40,000/ Above Rs 40,000/4. Which service you are currently taking from Vimal Priority?
Intraday Call and Put Future and Option STBT and BTST Nifty Priority Investment Commodity
Hiren Raval, DBM, SPCE
Page 54
5. Do you think that Vimal’s advice earns you more?
Highly Agree
Agree
Can’t say
Disagree
Highly Disagree
6. Are you satisfied from the employees of Vimal Priority?
Highly satisfied
Hiren Raval, DBM, SPCE
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
Page 55
7. How is your experience with Vimal Priority regarding to following factors?
Very Poor
Poor
Neutral
Good
Very Good
Accuracy Reliability Timing Clarity
8. What do you think, about the price of the packages of Vimal Priority are…
Very low
Reasonable
Neutral
Costly
Very costly
9. Have you ever taken advisory service from anyone else?
Yes No If YES than which is that? Please. Specify________ 10. In comparison of Vimal Priority your previous advisory company, is…..
Very Poor
Poor
Neutral
Good
Very Good
Accuracy Reliability Timing Clarity
Hiren Raval, DBM, SPCE
Page 56
11. Are you satisfied with the current rates of the product of Vimal Priority?
Highly satisfied Satisfied
Neutral Dissatisfied
Highly dissatisfied
Intraday Call and Put STBT and BTST Future and Options Investment Commodity Nifty
12. Give following answer as per your experience with the employees of Vimal Priority.
Very Poor
Good
Neutral
Very Good
Excel lent
Speech Communication Problem Solving Power Overall Behavior Knowledge
Hiren Raval, DBM, SPCE
Page 57
13. If you want to give any suggestion for the improvement of the services of Vimal
Priority… Suggestion:
Hiren Raval, DBM, SPCE
Page 58
Bibliography
A. Books •
Business Research Methodology ( Luke and Rubin)
•
Human Resource Management (Ashwathapa)
B. Reports •
Technical analysis (Jasmine Vagasiya)
•
How to became good investor in Forex market
•
Vimal Priority product presentation
C. Websites •
Hiren Raval, DBM, SPCE
www.Vimalcorporate.com
Page 59
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