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    Perceptual Mapping of HDFC

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    prashanth_prerepa
    The document analyzes a perceptual mapping done by HDFC Bank to evaluate its performance compared to major competitors on factors of customer service and range of plans offered. The analysis found HDFC's performance to be average in both areas, with some competitors performing better in offering plans and services. It identified customer service as a key concern, with HDFC rated below average on customer satisfaction compared to competitors like SBI, METLIFE, and ICICI. The Gaps Model is used to explain five gaps causing customer dissatisfaction with HDFC's service, including unmet expectations, a mismatch between promotions and actual customer experiences, and a lack of understanding of customer needs and voices.

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    Perceptual Mapping of HDFC

    Uploaded by

    prashanth_prerepa
    509 views3 pages
    The document analyzes a perceptual mapping done by HDFC Bank to evaluate its performance compared to major competitors on factors of customer service and range of plans offered. The analysis found HDFC's performance to be average in both areas, with some competitors performing better in offering plans and services. It identified customer service as a key concern, with HDFC rated below average on customer satisfaction compared to competitors like SBI, METLIFE, and ICICI. The Gaps Model is used to explain five gaps causing customer dissatisfaction with HDFC's service, including unmet expectations, a mismatch between promotions and actual customer experiences, and a lack of understanding of customer needs and voices.

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    The document analyzes a perceptual mapping done by HDFC Bank to evaluate its performance compared to major competitors on factors of customer service and range of plans offered. The analysis found HDFC's performance to be average in both areas, with some competitors performing better in offering plans and services. It identified customer service as a key concern, with HDFC rated below average on customer satisfaction compared to competitors like SBI, METLIFE, and ICICI. The Gaps Model is used to explain five gaps causing customer dissatisfaction with HDFC's service, including unmet expectations, a mismatch between promotions and actual customer experiences, and a lack of understanding of customer needs and voices.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    509 views3 pages

    Perceptual Mapping of HDFC

    Uploaded by

    prashanth_prerepa
    The document analyzes a perceptual mapping done by HDFC Bank to evaluate its performance compared to major competitors on factors of customer service and range of plans offered. The analysis found HDFC's performance to be average in both areas, with some competitors performing better in offering plans and services. It identified customer service as a key concern, with HDFC rated below average on customer satisfaction compared to competitors like SBI, METLIFE, and ICICI. The Gaps Model is used to explain five gaps causing customer dissatisfaction with HDFC's service, including unmet expectations, a mismatch between promotions and actual customer experiences, and a lack of understanding of customer needs and voices.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    The passage discusses a perceptual mapping study that evaluated HDFC Bank's performance on customer service and range of plans compared to its major competitors in India. It found HDFC's performance to be average in both areas, with some competitors providing better plans and customer service.

    The study identified five gaps between customer expectations and HDFC Bank's performance: 1) Customers expect better service than HDFC provides 2) Customers want good service at lower costs 3) Branches are not always conveniently located 4) Employee banking knowledge and customer service skills are sometimes lacking 5) What HDFC promotes and what customers perceive are sometimes different.

    The study found HDFC Bank's customer satisfaction levels to be below average and lagging competitors like SBI, ICICI Bank, Max New York Life and MetLife. SBI was found to have the highest customer satisfaction levels.

    Perceptual Mapping of HDFC

    This mapping was done by HDFC bank, where it wanted to see the banks performance with respect to its major competitors. The two factors taken into consideration was customer service and range of plans The result shows that the performance of HDFC is average in both the segments, in providing different plans to the customers, its ahead of many competitors but still a few competitors are ahead of HDFC. SBI is ahead of all it competitors, as present scenario the services offered by SBI are unmatched. It is followed by METLIFE, ICICI, and MAX Newyork. In future HDFC has to increase its services in order to attract more customers. Now the second part of the measurement was on customer service and its the matter of concern for HDFC. Though many banks operating in India, are not able to meet customers expectation. Here again the satisfaction level of customer is high for SBI followed by MET LIFE. The core of a service industry is the customer service and HDFCs performance is below average then what customer does expect. Now the causes of customer dissatisfaction are explained by the Gaps Model.

    The Gaps concept and the Service Quality in HDFC bank

    Gap 1: The customers expect a better service from the bank. But the survey we did that on customer service HDFC is lacking behind its competitors. Competitors like ICICI, Max Newyork and SBI are ahead of it and its also reflected by the number of customers that SBI have. The customer feels that the reply to the customer compliant by the bank is not prompt. And also there is long waiting time as the service delivery is not prompt. Gap 2: The customer wants a good service at less cost which the bank is unable to understand. Gap 3: The customer wants the banks should be in their reach, but the branches of HDFC is not strategically located and hence here the company is unable to understand the customers voice and its due to poor servicescape. A few customers in our survey the charges for the facilities provided by the bank are higher than the nationalized banks. Gap 4: The employees in the HDFC bank are very much comfortable with the technology but their banking knowledge and other customer queries is poor. And the reason for this behavior was that the front line employee in the bank switches job very fast. Gap 5: Now the major gap is this, as first of all the customers have more faith on nationalized banks and secondly what is promoted by the HDFC bank and what actually perceived by customers are different, in case of responsiveness the bank in its promotion shows that the employee are very responsive but reality is different

    Sources Journal of Economics and Behavioral Studies Vol. 2, No. 1 pp. 32-40, Jan 2011

    Rai Alok Kumar, 2009: Banks (Finance) (Quality management) Liquefied petroleum gas (Quality management) Direct marketing

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