A Study of Customer Satisfaction on After Sales and Services

Customer satisfaction is related to the human activity directed at satisfying human wants through the exchange of goods and Satisfying the customers occupies a most important position in business management. Customer satisfaction plays a crucial and critical role as it deals with customers and their needs. The major task of organization is to satisfy customers by meeting their needs and wants.
The essence of organization is the customer and not the product shall be the heart of the entire business system. It emphasizes on customer oriented business. Policies and programs, which are formulated to serve efficiently the customer demand.

“Satisfaction of a customer is so basic that it cannot be considered as a separate function. It is the way whole business seen from the point of view of its final results i.e., from the customer’s point of view”.

A consumer is the king and has the right to choose from a large variety of offering. He is the main person around which all business evolves. Today market is a more customer oriented in the sense all the business operations revolve around satisfying the customer by meeting their needs through effective

Thus, business is often dynamic, challenging and rewarding. It can also be frustrating and even disappointing but never dull. The topic “A Study of Customer Satisfaction on After Sales and Services” is chosen to study the service provided by Arpita Bajaj who are the dealers of Bajaj Motors in the city of Hassan. This project deals with how Arpita Bajaj defines its consumer and uses its resources in the best way to attract and satisfy their needs and wants competitively and profitably. Here satisfying customers limited only till the service is provided after the sales, but they include all functions necessary to satisfy the customer such as financing, after sales services, etc.

The Arpita Bajaj is one of the leading Bajaj two wheeler outlet in Hassan district. It was established in the year 2000, & its delivering to the customers in and around Hassan & its neighboring districts. For the past 10 years it’s been into the active in promoting two wheeler products but in the recent past since 2008 the sales of two wheeler was dismal due the dissatisfaction among large group of customers due to deteriorating in the quality of after sales services.

Hence the management has felt the need to conduct through analysis about the existing effectiveness of after sales service & its impact on the organization overall sales performance. Hence the management had realized the need to conduct the result oriented analysis through the management trainees. I was glad to accept this assignment from the organization perspective & as a part of MBA curriculum. “A study of customer satisfaction on after sales and service” is the important statement of the problem in this project.

Customer is one for whom you satisfy a want or need in return for some of payment. The payment may be money, may be time, or may be goodwill but there is some form of payment. Satisfaction is the level of person felt state by comparing products perceived in relation to the person’s expectations.

Satisfaction level is function of the difference between perceived performance and expectations. If the performance falls short of expectations, the customer is not satisfied. If the performance matches the expectations the customer’s are highly satisfied. If the performance is beyond his expectations the customer is thrilled.

Customer satisfaction is customer’s positive or negative feeling about the value that was perceived as a result of using particular organization’s offering in specific used reaction to a series of use situation experience. According to peter F. Ducker, the purpose of business is to create and then retain a satisfied customer. A society supports business because they serve its member’s by catering to their needs and leave them satisfied. If the business dissatisfied its customer’s and not only these customers stop availing service , but society at large will condemn the firm and may even penalize it to the point of its extinction.

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Construction of Optimal Portfolio using Sharpe’s Single Index Model

Capital market comprising the new issues market and secondary markets or stock exchanges, is one of the most sensitive markets in the whole economy. The secondary market enables investors to continuously rearrange their assets if they so desire by divesting themselves of such assets while others can use their surplus funds to acquire them. This rearrangement is not a product of instant decisions but a thorough research.

The major tools used for this are Fundamental analysis and technical analysis. Of which fundamental analysis requires a large amount of inside data regarding the companies concerned and also requires lot of calculations and deep knowledge. Whereas technical analysis is comparatively a simpler tool for an investor to decide his short/medium term investment decisions.

By closely watching the price changes, its trend can be analyzed and the timings of entry and exit can be decided. In short his decisions such as when to buy or when to sell particular scrip or when to reorganize his portfolio can be influenced by the technical analysis, moving averages method where in the daily prices are compared with average of certain number of days.

Allegro Capital Advisors Pvt Ltd. one of the oldest and largest broking firms in the Industry. The company’s offerings include stock broking through the branch and Internet, Investments in IPO, Mutual funds and Portfolio management service. Allegro Capital Advisors Pvt Ltd has a full-fledged research division involved in Macro Economic studies, Sectoral research and Company Specific Equity Research combined with a strong and well networked sales force which helps deliver current and up to date market information and news. Allegro Capital Advisors Pvt Ltd’ network spans over 112 cities with 351 outlets, with an employee workforce beyond 5100.

The company is also a depository participant with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL), providing dual benefit services wherein the investors can avail the company’s brokerage services for executing the transactions and the depository services for settling them. Allegro Capital Advisors Pvt Ltd. processes more than 4,00,000 trades a day which is much higher even than some of the renowned international brokers.

Allegro Capital Advisors Pvt Ltd has over Rs. 3300 crore of Assets Under Management (AUM) as of 31st March, 2008. The portfolio Management Service provides top class service, catering to the high end of the market. Portfolio Management from Allegro Capital Advisors Pvt Ltd comes as an answer to those who would like to grow exponentially on the crest of the stock market, with the backing of an expert. Unlike many other companies, Allegro Capital Advisors Pvt Ltd., has a Centralised Risk Management System and an in-house Research Team which allows it to offer the same levels of service to customers across all locations. Allegro Capital Advisors Pvt Ltd has been the first in providing many products and services which have now become industry standards.

Indian Stock Markets are one of the oldest in Asia. Its history dates back to nearly 200 years ago. The earliest records of security dealings in India are meager and obscure. The East India Company was the dominant institution in those days and business in its loan securities used to be transacted towards the close of the eighteenth century.

By 1830's business on corporate stocks and shares in Bank and Cotton presses took place in Bombay. Though the trading list was broader in 1839, there were only half a dozen brokers recognized by banks and merchants during 1840 and 1850.

The 1850's witnessed a rapid development of commercial enterprise and brokerage business attracted many men into the field and by 1860 the number of brokers increased into 60. In 1860-61 the American Civil War broke out and cotton supply from United States of Europe was stopped; thus, the 'Share Mania' in India begun. The number of brokers increased to about 200 to 250. However, at the end of the American Civil War, in 1865, a disastrous slump began (for example, Bank of Bombay Share which had touched Rs 2850 could only be sold at Rs. 87).

At the end of the American Civil War, the brokers who thrived out of Civil War in 1874, found a place in a street (now appropriately called as Dallal Street) where they would conveniently assemble and transact business. In 1887, they formally established in Bombay, the "Native Share and Stock Brokers' Association" (which is alternatively known as “The Stock Exchange "). In 1895, the Stock Exchange acquired a premise in the same street and it was inaugurated in 1899. Thus, the Stock Exchange at Bombay was consolidated.



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Technical Analysis in Different Sectors Stocks

Today investing in financial securities such as shares, debentures, bonds, and other financial securities are considered to be the most profitable investment avenues when compare to other type of investments. However, these financial securities not only ensures higher return but also bears higher risk. Therefore, the combination of these two characteristics in the financial securities has created a challenging task for the investors. Hence with an object of getting success in the investment activity, the investors tries to predict the future behavior of the stocks by using some of the techniques among them the important are:

A. Fundamental analysis

Fundamental analysis is one of the important techniques, which is used to study the future behavior of the stocks. It actually refers to analyses of present and future earning capacity of the stocks based on the analysis of economy, industry and company as a whole there by to determine the intrinsic values of the stocks.

In other words, fundamental analysis is mainly concerned with the determination of intrinsic value of the stocks by analyzing the fundamental factors of economy, industry and company as a whole. The intrinsic value of the stocks represents the real worth or economic value, which is used by the fundamental analysts to identify the under priced and overpriced securities in the market. It means, if the intrinsic value of the stock is more than the market value, it considered as under priced and included in the portfolio. On the other hand, if the intrinsic value of a stock is less then the market value then it is considered as overpriced and excluded from the portfolio.

Thus, fundamental analysis is mainly concerned with the determination of intrinsic value of stocks and based on that intrinsic value investment decisions are taken by the fundamental analysts.

B. Technical analysis

It is another important technique, which is used to predict the future performance of the stocks. It is mainly concerned with the study of historical price movements of the stocks and on its volume of trade in the market to predict the future trend movements of the stocks. However, it does not consider any fundamental factors of the company like earnings, dividends, growth rates etc.

It means, technical analysts first predicts the future trend movements of the stocks by using historical data and then take buy decision if trend movement shows upward direction and sell decision if trend movement shows downward direction.

In other words, technical analysis does not involve in determination of any intrinsic value of the stocks instead it studies the past price movements, volume and other chart patterns to predict the future performance of the stocks.

Historical stock prices, volume of trade in the market, Charts, graphs etc, are the important inputs, which are required to perform technical analysis. Charting is the key activity in technical analysis and in fact there is no technical analysis with out charts.

Thus technical analysis mainly concentrates on the study of historical price movements and on its volume to identity future trend movements and based on this trend movements investment decisions are taken by technical analysts.

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A Study on Budgetary Control System conducted at Hassan Cooperative Milk Producers Societies

One the primary functions of the management is planning. Most of the planning relates to individual situations and individual proposals. However, this has to be supplemented and reinforced by overall periodic planning followed by continuous comparison of the actual performance with the planned performance. Budgetary control has, therefore, become as essential tool of management for controlling costs and maximizing

“Budget” and “Budgeting” are concepts traceable to the bible days, precisely the days of Joseph in Egypt. It was reported that “nothing was given out of the treasure without a written order”. History has it that Joseph budgeted and stored grains which lasted the Egyptians throughout the seven years of famine.

Budgets were first introduced in the 1920s as a tool to manage costs and cash flows in large industrial organizations. Johnson states that it was during the 1960s that companies began to use budgets to dictate what people needed to do. In the 1970s performance improvement was based on meeting financial targets rather than effectiveness. Companies then faced problems in the 1980s and 1990s when they were not willing to spend money on innovations in order to stay with the rigid budgets; they were no longer concerned about how customers were being treated; only meeting sales targets became essential.

Budgeting in business organizations is formally associated with the advent of industrial capitalism for the industrial revolution of the eighteenth century, which presented a challenge for industrial management.

Glautier and Under (1987) state that “the emergence of scientific management philosophy with its emphasis on detailed info’ as a basis for taking decision provided a tremendous impetus for the development of management accounting and indeed budgeting techniques”.

However, budgeting at the early stage of its development was concerned with preparing and presenting credible information to legitimize accountability and to permit correct performance evaluation and consequently, rewards.

Over the years, the function and focus of budgeting has shifted considerably and business organization became more complex and their environment became dynamic coupled with the emergence trend, the term budget and budgeting have been differently defined and examined by various scholars in several ways.

The Institute Of Cost and Management Accountants (UK) defines a budget as “a financial and/ or quantitative statement, prepared and approved prior to a defined period of time, of the policy to be pursued during that period for the purpose of attaining a given objective. It may include income, expenditure and the employment of capital.”

Omolehinwa (1989) defined a budget as a plan of dominant individuals in an organization expressed in monetary terms and subject to the constraints imposed by the participants and the environments, indicating how the available resources may be utilized, to achieve whatever the dominant individuals agreed to be the organisation’s priorities. The impressive thing about this definition is that, it recognizes the constraint imposed on budget by other participants who are to ensure that the objectives and targets enunciated in the budget are achieved.

Pandey (2003) defines budget as a short term financial plan. It is an action plan to guide managers in achieving the objectives of the firm. The Tennessee board of Regents (2006) defines budgeting as the process whereby the plans of an institutions are translated into an itemized, authorized and systematic plan of operation, expressed in dollars for a given period.

Budgeting, at both management level and operation level looks at the future and lays down what has to be achieved. Control checks whether the plans are being realized and put into effect corrective measures, where deviation or short-fall is occurring. Egan emphasized that without effective controls, an enterprise will be at the mercy of internal and external forces that can disrupt its efficiency, and be unaware; such enterprise will not be able to combat such forces. When a budgeting and control system is in use, budgets are established which set out in financial terms, the responsibility of managers in relation to the requirement of the overall policy of the company. Continuous comparison is made between the actual and budgeted results, which are intended to either secure, thorough action of managers, the objectives of policy or to even provide a basis for policy revision.

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A Study of Consumer Perception on Big Bazaar

The word "Retail" originates from a French-Italian word. Retailer-someone who cuts off or sheds a small piece from something. Retailing is the set of activities that markets products or services to final consumers for their own personal or household use. It does this by organizing their availability on a relatively large scale and supplying them to customers on a relatively small scale. Retailer is a Person or Agent or Agency or Company or Organization who is instrumental in reaching the Goods or Merchandise or Services to the End User or Ultimate Consumer.

Retail industry is the largest industry in INDIA, with an employment of around 8% and contributing to over 10% of the country's GDP. Retail industry in INDIA is expected to rise 25% yearly being driven by strong income growth, changing lifestyles, and favorable demographic patterns.
It is expected that by 2016 modern retail industry in INDIA will be worth US$ 175-200 billion. INDIA retail industry is one of the fastest growing industries with revenue expected in 2007 to amount US$ 320 billion and is increasing at a rate of 5% yearly. A further increase of 7-8% is expected in the industry of retail in INDIA by growth in consumerism in urban areas, rising incomes, and a steep rise in rural consumption. It has further been predicted that the retailing industry in INDIA will amount to US$ 21.5 billion by 2010 from the current size of US$ 7.5 billion.

Shopping in INDIA has witnessed a revolution with the change in the consumer buying behavior and the whole format of shopping also altering. Industry of retail in INDIA which has become modern can be seen from the fact that there are multi- stored malls, huge shopping centers, and sprawling complexes which offer food, shopping, and entertainment all under the same roof.

INDIA retail industry is expanding itself most aggressively; as a result a great demand for real estate is being created. INDIAN retailers preferred means of expansion is to expand to other regions and to increase the number of their outlets in a city. It is expected that by 2010, INDIA may have 600 new shopping centers.

In the INDIAN retailing industry, food is the most dominating sector and is growing at a rate of 9% annually. The branded food industry is trying to enter the INDIA retail industry and convert INDIAN consumers to branded food. Since at present 60% of the INDIAN grocery basket consists of non- branded items.

INDIAN retail industry is progressing well and for this to continue retailers as well as the INDIAN government will have to make a combined effort. INDIAN retailing industry has seen phenomenal growth in the last five years (2001-2006). Organized retailing has finally emerged from the shadows of unorganized retailing and is contributing significantly to the growth of INDIAN retail sector. The “INDIA Retail Sector Analysis (2006-2007)” report helps clients to analyze the opportunities and factors critical to the success of retail industry in INDIA.

INDIAN retail industry is going through a transition phase. Most of the retailing in our country is still in the unorganized sector. The spread out of the retails in US and INDIA shows a wide gap between the two countries. Though retailing in INDIA is undergoing an exponential growth, the road ahead is full of challenges.

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