Market Probe Project2

Table of contents

Serial No.

Particulars

Page No.

1. Acknowledgement

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2. Preface

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3. About Market Probe

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4. History of Banking Industry

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5. Company Profile (Barclays Bank)

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6. About MP Global Link

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7. Telephonic interview

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8. About CATI

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9. Research Methodology

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10. Research Findings

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11. Learning and Experiences

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12. Recommendations

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13. Conclusion

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14. Bibliography

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Market Probe

Mission

Our mission is to help our clients achieve their business goals and protect their long term assets—their customers, their employees, and their brands.

Values

We have a set of core values-

 Maintain the integrity of the data

 Protect the confidentiality of all client information  Aspire to the highest standards of intellectual honesty  Always flexible for new ideas

Market Probe believes in importance of four basic principles---

 Quality

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 Service  Teamwork  Innovation

About Market Probe (contd.)

 Market Probe began as a consulting company in 1976. Founded by Dr.T.R. Rao (Company President and CEO), a former University professor specializing in marketing and statistics.

 Market Probe began with projects focused on market feasibility studies, consumer research, image research and marketing effectiveness.

 Market Probe’s headquarter is located at 2655 N. Mayfair Road Wauwatosa. It has global offices in Toranto, London, Brussels, china ,Singapore and Dubai. It also has three offices in India.

 It operates CATI call centers in the United States, Canada, Singapore, the United Kingdom and India.

 Market Probe has full-service research offices in the U.S., Canada, the UK, Belgium, Dubai, India, Singapore and China; and we have formed several strategic partnerships with field agencies around the world.

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 Market Probe was also recently listed as 24th largest U.S. based

marketing research firm by global revenue.

 It has $ 41.4 million in annual revenues and has grown more than 150 % over the last five years.

 In The course of 23 years of conducting studies for our clients, Market Probe has researched topics ranging from plant protection to fertilizers and plant nutrition, seeds, equipments and machinery to biotech and food retailers

Services Offered The services offered are modern and useful. They are as follows: · Social & Environmental Research · Business Communication Service · Automotive Research · Agricultural Research · Business to Business Research · HR Management Service · Media Research · Mystery Shopping · Qualitative Research · Quantitative Research · Retail Study

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· Healthcare Research · Sales Force Effectiveness Practice Among the available services here we only highlight the qualitative and quantitative research.

Qualitative Research Market Probe has a specialist qualitative research division. This division forms a core part of the overall Business. This division has a team with an experience base of over 15 years. Keeping in mind the need to bring in different perspectives in understanding human behavior, this team has been selected from diverse backgrounds such as psychology, sociology, anthropology, marketing, economics and so on. The qualitative division also has its own specialized field structure that handles all aspects of the field operations. No fieldwork is sub-contracted. In addition to our own team of highly experienced and motivated researchers, the qualitative division draws into the expertise of international consultants in the fields of qualitative research and communication. This allows us access to global perspective as well. The qualitative division has handled hundreds of studies spanning categories as diverse as FMCG products, financial products, durables, automobiles, media, telecommunication and so on. It has considerable experience in handling the following types of research studies: · Usage and attitude studies · Brand equity studies · Segmentation studies · Positioning research · Communication development and evaluation · Packaging evaluation studies · New product development studies The experience pool also includes studies among a wide variety of target groups ranging from housewives, chief wage earners, children, teenagers, young adults, different socioeconomic groups including high net worth individuals; specialist groups such as corporate, specific professions, etc. The qualitative research division boasts of having a large number of specialized techniques such as: • Conflict Groups

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• Peer Interactions • Triads • Paired Interviews • Slice of life • Semiotics • Extended Creativity groups • Hybrid Approaches • Benefit Inhibitor chains • Thematic Apperception Tests • Mind Mapping • Value Equation • World views • Bring your Homework etc.

Quantitative Research The quantitative research division is a specialized research with a combined experience of over 28 years in handling quantitative research in a wide range of areas - such as FMCGs, personal grooming products, automobiles, durables, telecom, IT media, pharmaceutical products, cigarettes, retail, financialproducts and web research. The team, of over 15 quantitative researchers is adept at handling all aspects of the research right from problem definition, to the analysis and data interpretation, to providing implementable solutions to the clients needs. The use of a wide array of tools and techniques, such as multivariate techniques adds value and helps provide meaningful insights to the client. A team of experienced programmers ensure a quick and efficient data summarization and interpretation, which ensure a quicker turnaround time for the project. At any point of time, there are 800+ investigators for collecting data and they are spread across the country. High quality in data collection is ensured through a systemized and stringent data collection procedure-training sessions, mock calls, pilot interviews, back-checks by the company staff ensure that data collected adheres to the quality standards laid down by the company. Specialized teams of experts in various fields with in-depth knowledge of the global market add value to the project. We have consultants with a global experience of at least 20 years in the following areas. · Customer satisfaction · Mystery shopping · Product testing

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· Retailing sector · Modeling and data mining · Insurance sector · Banking sector

A Recognized Leader in Diversity(Globally Diverse in Our Culture, Our Employees and our clients) Market Probe is classified as a minority business with 50% women and 50% Indian American ownership. We are currently ranked among the top diversityowned businesses in the United States and are a minority business enterprise as certified by the Wisconsin Supplier Development Council, a regional affiliate of The National Monitory Supply Development Council.

Market Probe Inc.

 Headquarters- Greater Milwaukee Area  Industry- Market Research

 Type- Privately Held  Company Size-2,01,500 employees  Founded-1976  Website-http://www.marketprobe.com...

Global Network

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1. U.S. 2. Europe 3. Canada 4. Middle East 5. Asia 6. China 7. India 8. Belgium

Stakeholder Solutions Customer satisfaction and loyalty  Employee equity system  Brand Health

History of Banking in India: Without a sound and effective banking system in India it cannot have a healthy economy. The banking system of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and internal factors. For the past three decades India's banking system has several outstanding achievements 21

to its credit. The most striking is its extensive reach. It is no longer confined to only metropolitans or cosmopolitans in India. In fact, Indian banking system has reached even to the remote corners of the country. This is one of the main reasons of India's growth process. The government's regular policy for Indian bank since 1969 has paid rich dividends with the nationalisation of 14 major private banks of India. Not long ago, an account holder had to wait for hours at the bank counters for getting a draft or for withdrawing his own money. Today, he has a choice. Gone are days when the most efficient bank transferred money from one branch to other in two days. Now it is simple as instant messaging or dial a pizza. Money have become the order of the day. The first bank in India, though conservative, was established in 1786. From 1786 till today, the journey of Indian Banking System can be segregated into three distinct phases. They are as mentioned below: • Early phase from 1786 to 1969 of Indian Banks • Nationalisation of Indian Banks and up to 1991 prior to Indian banking sector Reforms. • New phase of Indian Banking System with the advent of Indian Financial & Banking Sector Reforms after 1991. To make this write-up more explanatory, I prefix the scenario as Phase I, Phase II and Phase III. .

Nationalisation of Banks in India The nationalisation of banks in India took place in 1969 by Mrs. Indira Gandhi the then prime minister. It nationalised 14 banks then. These banks were mostly owned by businessmen and even managed by them

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Scheduled Commercial Banks In India The commercial banking structure in India consists of: • Scheduled Commercial Banks in India • Unscheduled Banks in India

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Scheduled Banks in India constitute those banks which have been included in the Second Schedule of Reserve Bank of India(RBI) Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act. The following are the Scheduled Foreign Banks in India: • American Express Bank Ltd. • ANZ Gridlays Bank Plc. • Bank of America NT & SA • Bank of Tokyo Ltd. • Banquc Nationale de Paris • Barclays Bank Plc • Citi Bank N.C. • Deutsche Bank A.G. • Hongkong and Shanghai Banking Corporation • Standard Chartered Bank. • The Chase Manhattan Bank Ltd. • Dresdner Bank AG.

Barclays Bank PLC in India Barclays Bank PLC in India is a commercial banking institution operating in India.. The Indian Barclays Bank PLC offers a slew of financial products that include deposits, loans,

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trade finance, treasury solutions and cash management services. The bank is a wholly owned subsidiary of corporate parent Barclays PLC. Barclays PLC is headquartered in London; UnitedKingdom

Barclays Bank PLC in India is engaged in Commercial Banking and Consumer Banking. The Indian subsidiary of the British Bank started its corporate banking division from November 2006. Key clients of the company include top notch multinationals and leading Indian corporations. The bank also counts among its clients a number of public sector companies. Barclays Bank PLC of India also caters to Small and Medium Enterprises (SMEs).

The commercial banking products of Barclays PLC in India include: • • • • •

Deposits Trade Finance Loans & Financing Treasury Solutions Payments & Cash Management

All commercial banking customers of Barclays India are provided with the services of a Relationship Manager. The Relationship Manager helps the client to make effective, quality financial choices. The manager may also provide access to Sales Financing Managers and International Trade Managers. The consumer banking products of Barclays Bank PLC in India include: • • • • •

Personal Loans NRI Banking Services Savings Accounts & Deposits Barclays Credit Card Business Installment Loans

Personal loans of Barclays Bank come in a variety of options to suit every client profile. The different savings accounts offered by the bank are: • • • •

Advantage account Term Deposit account Zero Balance account Savings Plus account

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•

No Frills account

The Zero Balance account does not involve a minimum balance requirement. A free local cheque book is provided.

Barclays in India: Barclays GRCB India, in a short period of two and a half years, has grown to be amongst the most respected foreign banks in the country, servicing more than 900,000 clients. Barclays GRCB in India is led by Mark Jones, Managing Director, Asia and Ram Gopal, Interim Managing Director, India. Barclays opened its doors to commercial customers in November 2006 and today has a roster of over 2300 clients. This includes large multinationals, public sector companies and a growing base of small and medium enterprises. Barclays offers them a broad spectrum of services including loans, deposits, payments & cash management services, trade finance and treasury solutions. The consumer banking division, launched in May 2007, offers customers a growing suite of products and services that are relevant both to their current and emerging market needs. These include innovative propositions from personal loans (that come with smaller monthly repayments) to credit cards (that allow customers to choose their payment date). ‘Hello Money’, a revolutionary service that combines technology and convenience takes consumer banking services to the next level of convenience. Barclays also has arguably the best Premier services offering in the country.Innovations at Barclays GRCB India are not limited to the consumer banking division alone. The Indian operations recently became the first country in Asia and the fourth in the world to launch ‘The Latitude Club’, a global commercial banking proposition from Barclays that assists corporate customers to identify new business partners internationally. Barclays GRCB has a network of 14 ATMs and six branches across India. Headquartered in Mumbai, the Bank is present in four other cities including New Delhi, Junagarh which in Gujarat, Kanchipuram which is near Chennai, at Nelamangla near Bengaluru, and another that was recently launched in Ahmednagar in Maharashtra. Investing in the community is an important part of Barclays sustainability strategy. Globally, Barclays has focused efforts on financial inclusion, entrepreneurship, education, enterprise and helping people into employment. The bank is currently in the midst of exploring how it can leverage its global

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partnerships to invest in the growth and development of the communities in which it operates in India as well.

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 MP Global Link is one of the fastest growing data collection companies in the market place.We offer comprehensive fieldwork solutions for market research companies, consulting companies and corporate clients.  Based in Mumbai, we have affiliate offices in other cities in India as well as globally to assist in both local and global data collection. We can support quantitative, qualitative and customer satisfaction research in all market research sectors.  MPGlobal Link India has its field offices across 45 major cities in India. We have a state-of-the-art centralized CATI center in Noida  Our commitment is to deliver high quality, unbiased data across cultures and languages. Our recruitment team works to ensure a consistent and reliable pool of highly trained, native speakers in all languages to conduct face-to-face, CATI and telephone interviews  We work in partnership with our clients, taking care of the day-to-day management of the project.  We deliver prompt, reliable and accurate data at highly competitive prices  Our commitment is to deliver high quality, unbiased data across cultures and languages. Our recruitment team works to ensure a consistent and reliable pool of highly trained, native speakers in all languages to conduct face-to-face, CATI and telephone interviews.

Our Global Advantages---

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Flexibility is key to ensuring that you obtain the right information from respondents. We believe in multimode interviewing practices and can offer the following data collection methodologies:  International Reach  Phone and On-Line Research  Face - to - Face Research  B to B Research — Reach the Decision-Makers  B to C Research — We Speak The Language of  Consumers Worldwide  Desk / Secondary Research  Qualitative Research

How the three companies came together in this projectThere are three companies involved in this project-

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Barclays Bank

Market Probe Probe

MP Global Link

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Barclays Bank wants to conduct a survey. For this very purpose. But for India, it has no proper facility for data collection so it hires Market Probe. Now Market Probe has the responsibility to do this job. MP Global link is a child company of Market Probe. Market Probe has introduced MP Global link especially for data collection. So for data collection purpose it offered this to MP Global Link. Because in actual this was the project assigned to Market Probe and the project was given by Barclays Bank, That’s why we used to say “I am calling from Market Probe on behalf of M P Global Link” in our introduction.

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Telephonic Interview Telephone Interviewing stands out as the best method for gathering quickly needed information. Responses are collected from the respondents by the researcher on telephone.

Advantages of Telephonic Interview a. It is very fast method of data collection. b. It has the advantage over “Mail Questionnaire” of permitting the interviewer to talk to one or more persons and to clarifying his questions if they are not understood. c. Response rate of telephone interviewing seems to be a little better than mail questionnaires d. The quality of information is better e. It is less costly method and there are less administration problems

Disadvantages of Telephonic Interview f. They can’t handle interview which need props g. It can’t handle unstructured interview h. It can’t be used for those questions which requires long descriptive

answers i. Respondents cannot be observed j. People are reluctant to disclose personal information on telephone k. People who don’t have telephone facility cannot be approached

Telephone Interviews � Traditional telephone interviews � Phoning a sample of respondents and asking them a series of Questions � The interviewer uses a paper questionnaire and records the Responses with a pencil � Low-price WATS (wide-area telephone services) developed � Computer-assisted telephone interviews (CATI)

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� The interview sits in front of a computer monitor � A computerized questionnaire is generated using a computer. � The computer dials the phone number to be called. � The interviewer reads questions posed on the monitor and records the respondent’s answers into the computer files.

What is CATI ? Computer-assisted telephone interviewing (CATI) is a telephone surveying technique in which the interviewer follows a script provided by a software application. The software is able to customize the flow of the questionnaire based on the answers provided, as well as information already known about the participant.

CATI an edge over Face to Face Interviews•

Economical and Speedy- CATI is more economical and speedy because at the same time we get the response and enter it into computer. Through CATI we can reach a number of respondents in a single day.

•

Authenticity of the submitted questionnaires -In CATI Company can check the quality of the interviews whenever it requires as it can be heard the voice of both interviewer and respondent .Interviewer cannot fill the questionnaire by his/her own.

•

Ease in conducting Interviews- It is quiet easy to reach a respondent no matter how far he is, through CATI. Here we ask for just 10-15 minutes on the phone, if respondent is not free at that point of time we take an appointment and contact them at that

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CATI functions in the following mannerA computerized questionnaire is administered to respondents over the telephone. The interviewer sits in front of a computer screen.

On command, the computer dials the telephone number to be called. When contact is made, the interviewer reads the questions posed on the computer screen and records the respondent's answers directly into the computer. Interim and update reports can be compiled instantaneously, as the data are being collected. CATI software has built-in logic, which also enhances data accuracy. When for a particular service centre the total target of complete interviews is completed. For this particular service centre the data is blocked.

Call Barging- For quality point of view the calls can be barred from any place. By this technique the conversation between Interviewer and respondent can be heard at the same time of interview.

It is also helpful at the time of questionnaire briefing.

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CATI System 1. Must be able to handle both inbound and outbound calls 2. Have a predictive dialler - assign cases to operator with the correct language skills - have the operator call the household at different time Windows 3. Have an appointment scheduler - call respondents who make appointments - follow up for half completed interviews 4. Recording system to record all interviews 5. Call forwarding for difficult / VIP cases to a supervisor 6. Supervisor must be able to listen in and monitor 7. Have a remarks feature to collect and record non-standard Information

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Research Methodology

Purpose of the study-

The purpose of the study was to know how the Call centres are functioning, whether they are providing all the facilities to the customers or not and at what extent. That is why we all were asked to get the genuine feedback of the Barclays customers.

Objective of the studyThe key objective of the research was to find out the satisfaction level of the Barclays customers and to check their satisfaction level for its Call Centres.

Limitations of the study-

There are certain limitation to the study which are mentioned below— •

There were time constraints both on the interviewer side and the respondent side.

•

Biasness on the responses of the respondent cannot be totally avoided.

•

The responses of the respondent cannot be taken as representation of the whole population.

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Questionnaire-

There were total about 24 Questions related to the centres of. There were different sections by which we tried our best to collect the genuine feedback of Barclays customers. Questions can be categorized in-

 Opening of the questionnaire (Introduction Part)  Body of the Questionnaire In this section there were questions related to- eligibility/termination  Service initiation  Service advisor  Service facility  Service quality  Ending of the Questionnaire

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Research FindingsAccording to my own survey, the research findings were—

 Most of the customers consider Call centers as one of the important

criteria to select the Banking of a particular company, because most of the time dissatisfied customers said directly not to purchase any Barclays scheme just because of its poor service.

 Barclay’s credit cards have created a buzz among customers which

forces them to purchase another Barclays product in future.

 The customers are highly satisfied with the Barclays Banking. They

have only problems with services. Because they used to mention quiet often about the services of HDFC.

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 The customers want more transparency at Call centre. Because most of them complain that what and how the service is being done to their is not known by them, because they cannot see but they have to pay for all

Learning and ExperiencesIn two months I have learnt various things. I have got an opportunity to get a feel that work is being performed especially in data collection. I have got an experience of—  Data Entry

 Data collection •

Through CATI

•

Through field work i.e. door to door questionnaire filling

•

Through telephonic interview

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 Telephone antiquates

 Convincing skills over telephone

 Office work experience

 An experience of continuous talking over phone.

 How the target is achieved in an organization.

Recommendations During my summer training I gradually realized that the customer have no problem with the Banking but one of the major problem today being faced by them are

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with the services of the accounts. So there is an urgent need to improve this. I will recommend a few things to introduce Barclays to serve its customers in a better way—

 If a frequent camp of a general check of the accounts is organized time to time, then it will help in maintaining CRM with the Barclays customers. It will not cost a lot but can be a good promotion medium for Barclays

 The customers should be provided with the facility to be with their accounts, so that they can mention all their problems and get rid of it to their satisfaction level.

 Looking at the blind faith of Barclay’s customers for its credit cards Barclays should once again launch a new and modified version of Credit card and Debit card.

 Barclays should act fast in resolving the queries and problems of its customers, because most of the customers were not ready to give their feedbacks they had a common complaint that they had already given feedbacks a no. of times, but their problem is still not solved. In this way they harm the reputation and goodwill of the company

Conclusion-

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Competition in Banking industry is increasing day by day, with the introduction of so many companies in small and mid segment it has become quite tuff to survive. To survive in this situation Barclays must be no less than anyone in any segment. Barclay’s customers are highly satisfied with their banking; they have sometimes problems with services especially in key areas like Quality of the Products and quality of services offered.

Bibliography 21

Internet Websitesmoney.outlookindia.com www.iupindia.org www.networkmagazineindia.com http://en.wikipedia.org www.mrsi-india.com

Newspaper and Magazines-

 The Economic Times  Business Today  Business World

Books-

 Marketing Research, N.K.Malhotra  Principles of Marketing – Philip Kotler and Gery Armstrong  Marketing Research – D.D. Sharma  Marketing Research – Green & Tull

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