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    Group 11

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    Deepanshu Gupta
    The document analyzes customer satisfaction data from a survey of SBI customers aged 21-30 to identify key drivers of loyalty and satisfaction. Regression analysis showed that personal bankers and quick service have the biggest impact on customer loyalty and satisfaction scores. The document provides suggestions for SBI to improve areas like reliability, responsiveness, and empathy in order to increase customer satisfaction.

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    Group 11

    Uploaded by

    Deepanshu Gupta
    35 views15 pages
    The document analyzes customer satisfaction data from a survey of SBI customers aged 21-30 to identify key drivers of loyalty and satisfaction. Regression analysis showed that personal bankers and quick service have the biggest impact on customer loyalty and satisfaction scores. The document provides suggestions for SBI to improve areas like reliability, responsiveness, and empathy in order to increase customer satisfaction.

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    servqual analysis

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    Group 11 Ppt

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    The document analyzes customer satisfaction data from a survey of SBI customers aged 21-30 to identify key drivers of loyalty and satisfaction. Regression analysis showed that personal bankers and quick service have the biggest impact on customer loyalty and satisfaction scores. The document provides suggestions for SBI to improve areas like reliability, responsiveness, and empathy in order to increase customer satisfaction.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    35 views15 pages

    Group 11

    Uploaded by

    Deepanshu Gupta
    The document analyzes customer satisfaction data from a survey of SBI customers aged 21-30 to identify key drivers of loyalty and satisfaction. Regression analysis showed that personal bankers and quick service have the biggest impact on customer loyalty and satisfaction scores. The document provides suggestions for SBI to improve areas like reliability, responsiveness, and empathy in order to increase customer satisfaction.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 15

    Service Marketing Project

    Group Number: 11
    Archita Aggarwal (A010)
    Udit Tiwari (A050)
    Shreya Garg (C041)
    Udit Agarwal (C051)
    Vignesh R (C052)
    Industry: Banking
    Brand: SBI
    Target customer: 21-30 age group

    Survey Highlights :

    Detractors (Score between 6 or below): 15


    Passive (Score 7-8): 14
    Promoters (score9-10): 4
    NPS: -0.0101%
    Factor Analysis
    Analysis between 18 value elements
    6 factors are found to be most important

    Long term Investment


    Well behaved staff
    Good Return on investment
    Personal Banker
    Quick service
    Hassle Free Online Payment
    Service Quality Score
    1) Tangibility
    Score of 0.03 -> lowest impact on customer satisfaction

    2) Reliability
    Score of 0.15 - low -> Has to be emphasised to improve customer
    experience

    3) Responsiveness
    score of 0.17 -> SBI is performing well in this aspect

    4) Assurance
    Score 0f -0.54 > negative -> Need to significantly improve

    5) Empathy
    Score of 0.06 -> Not very significant in case of SBI

    Net SERVQUAL score = -0.06


    Regression Analysis
    Analysis between value elements and NPS Score

    49% relationship between dependent and independent


    variable
    customers give highest importance to personal banker and
    quick service
    Beta for personal banker - 0.638
    Beta for quick service - 0.240
    Significance value of 0.004
    Regression
    Equation 1 (Between value elements and NPS)

    NPS = 1.105+ 0.24 X Quick service + 0.133 x Good return on


    investment + 0.121 x well behaved staff + 0.161 x hassle free
    online service + 0.638 x personal banker + 0.101 x long-term
    investment

    Inference

    Personal banker and quick service are the two prominent


    factors responsible for the loyalty of the customers.

    Customer perceive these two value elements important to


    develop a long term loyal relationship with the bank
    Regression
    Equation 2 (Between value elements and Satisfaction score)

    Satisfaction score = 0.087+ 0.232 X Quick service + 0.098 x Good


    return on investment + 0.046x well behaved staff + 0.249 x
    hassle free online service + 0.594 x personal banker + 0.055 x
    long-term investment

    Inference

    Personal banker, quick service and hassle free online service


    are the prominent factors responsible for the satisfaction of
    the customers.
    Bank needs to focus on these parameters to increase the
    degree of satisfaction in their customers.
    Regression
    Equation 3 (Between Servqual and NPS)

    NPS = 4.303 + 0.277 x Tangibles 0.118 x Reliability -0.104 x


    Responsiveness + 0.738 x Assurance -0.401 x Empathy

    Inference

    Physical appearance, knowledge and courtesy of employees


    and their ability to inspire trust and confidence in their
    customers

    Customer are not satisfied with individual attention and


    needs to be improved
    Regression
    Equation 4 (Between satisfaction score and Servqual)

    Satisfaction score = 3.531 + 0.401 x Tangibles 0.278 x


    Reliability -0.406 x Responsiveness + 0.918 x Assurance -0.369 x
    Empathy

    Inference

    Assurance and Tangibles are the two important factors which


    satisfy the customer at most

    Responsiveness and empathy needs to be focus upon.


    Marketing Plan
    Major Shortcomings Targeted USPs
    1. Debit and Credit card are 1. Quick service on banking
    not up to industry transactions.
    standards. 2. Fast redress of grievances
    2. Lack of Relationship 3. Efficient Tele-banking
    manager for affluent clients. network.
    3. Behavior of employees 4. Trusted and reliable bank.
    towards customers not 5. Relationship Banker for
    good. clients with more than 1 lakh
    4. Lack of special privileges worth of deposits.
    and customized offers.
    Suggestions

    Tangibility
    No special focus on tangibility in normal banking
    environment
    People are mostly satisfied with tangible aspects

    Reliability
    Reducing the failure rate on online transactions
    Efficient tracking facility for cheque book deliveries
    Suggestions

    Responsiveness
    SBI does not fare well in this regard
    Quick grievance redress mechanism
    Dedicated Grievance cell in each branch

    Zonal Grievance cell to monitor many branches


    Special zone for HNI clients in all banking premises and open a
    few dedicated branched in zones where concentration of affluent
    clients are high.
    Provide luxury and up-market facilities in the above dedicated
    branches and personal banking service.
    Suggestions
    Assurance
    o Competitive interest rates and simpler loan documentation
    processes
    o SBI Rewards program to be discontinued
    o Replaced with a more exhaustive and indulging program having
    devoted offers

    Improvement in website
    o Animated graphics for easy understanding of product features
    and benefits
    o New feature to compare various cards and other products
    o Download feature for detailed credit card statement
    Suggestions
    Empathy
    o Improve quality of workforce
    Hire new and fresh talent
    Rotation of experienced staff among branches
    Maintain an average age of employee below 30per branch

    o Special training for hospitality for all front-end staff

    o Employee of the Month award based on customer service survey


    per branch
    o Launch a new product customization program- Design your own
    account with customizable features, and variety of choices

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