The document analyzes Sharekhan Ltd's service delivery process through several frameworks:
1. It examines the Indian broking industry context and Sharekhan's profile and services.
2. It maps Sharekhan's service blueprint and identifies five gaps between customer expectations and service delivery.
3. A customer questionnaire finds overall satisfaction with executives but gaps in account opening duration and brokerage fees. Suggestions to improve training and reduce activation times and fees are provided.
The document analyzes Sharekhan Ltd's service delivery process through several frameworks:
1. It examines the Indian broking industry context and Sharekhan's profile and services.
2. It maps Sharekhan's service blueprint and identifies five gaps between customer expectations and service delivery.
3. A customer questionnaire finds overall satisfaction with executives but gaps in account opening duration and brokerage fees. Suggestions to improve training and reduce activation times and fees are provided.
The document analyzes Sharekhan Ltd's service delivery process through several frameworks:
1. It examines the Indian broking industry context and Sharekhan's profile and services.
2. It maps Sharekhan's service blueprint and identifies five gaps between customer expectations and service delivery.
3. A customer questionnaire finds overall satisfaction with executives but gaps in account opening duration and brokerage fees. Suggestions to improve training and reduce activation times and fees are provided.
The document analyzes Sharekhan Ltd's service delivery process through several frameworks:
1. It examines the Indian broking industry context and Sharekhan's profile and services.
2. It maps Sharekhan's service blueprint and identifies five gaps between customer expectations and service delivery.
3. A customer questionnaire finds overall satisfaction with executives but gaps in account opening duration and brokerage fees. Suggestions to improve training and reduce activation times and fees are provided.
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Service Delivery Process
at Sharekhan Ltd. Contents
Industry Analysis Company Profile Service Encounters Service Blueprint Gaps Model Questionnaire Analysis Industry Analysis
The share of service sector in Indias GDP for the fiscal year 2009-2010 stood at 56%. The Indian broking industry is one of the oldest trading industries that has been around even before the establishment of the BSE in 1875. Trading, IPOs and Mututal Funds are the top three products offered with 90% firms offering trading, 67% IPOs and 53% firms offering mutual fund transactions. The Indian retail brokerage market is going through a wonderful phase with high growth rate. It is expected to reach US$ 6535.7 billion by the year 2015. Company Profile
SHAREKHAN LIMITED VISION: - To be the best retail broking brand in the Indian equity markets. Indias leading stock broker firm of SSKI group. Sharekhan.com was launched in 2000. More than 175 broking firms in over 80 cities. Into broking industry since 80 years. Services of Sharekhan
Equity and Derivatives trading. Depository services. Mutual Funds. Commodities trading. DIAL-N-TRADE. Portfolio Management. Fundamental Research. Technical Research. Service Encounter
The service encounter or Moment of Truth is
Meet the client & Get the Form
Sales Call Convince him signed up
Generally there are three types of service encounters:-
1)Remote encounter(Website/Emails) 2)Phone encounter 3)Face-to-Face encounter Service blueprint of Sharekhan Ltd
Service Blueprint
The Blueprint will have 5 components Physical Evidence Customer Actions( Line of Interaction) Onstage Contact Employee Actions (Line of visibility) Backstage Employee Actions (Line of internal interaction) Support Processes Gaps Model
Gap1:- The Promotional Gap:- The origin of the problem lies in the companys marketing communications. In the bid to get new customers by selling the benefits of their product or service companies can very easily create expectations in the minds of customers that will be difficult to fulfill. Gap2:- The Understanding Gap:- Another problem area is that the organizations do not have a proper understanding of customers needs and priorities. If they dont realize what is important to customers, it is quite possible that customer will not be satisfied despite good quality of service.
Gap3:- The Procedural Gap:- Despite the organization having proper understanding of what matters most to the customers it may still fail to deliver customer satisfaction if it cannot translate customers expectations into appropriate operating procedures and systems. Gap4:- The Behavioral Gap:- Sometimes organizations establish clear procedures which can match with the customers needs and priorities but still fail to achieve a consistently high level of customer satisfaction because staff may not be sufficiently trained or disciplined to follow the proper procedures at all times.
Gap5:- The Perception Gap:- It is possible that above mentioned gaps do not exist still some customers may be dissatisfied. This is because of the customers perception of the performance of organization which may differ from reality. Questionnaire Analysis
The sample size for this was 50 A Likert Scale was used, where customers were asked to rate the given parameters on the scale of one to five. These parameters were clubbed together to get a clear understanding of the satisfaction of the customers with sharekhan. All the levels of scale were given different weight as follows: Highly dissatisfied (high dis)-1, dissatisfied (dis)-2, neutral (neut)-3,satisfied-4, highly satisfied(high sat)-5. These values are shown in bracket besides the categories under a bracket.
The number of respondents in each category for every parameter was multiplied with their respective weight and then the values for there parameter were added. The sum was then divided by the number of respondents. This way the average was calculated for each parameter. high Neut Sat high Max dis(1) Dis(2) (3) (4) sat(5) Total Score Score calls made 10 14 30 80 15 149 2.98 5 Behavior Knowledge of 0 0 15 160 25 200 4 5
Telephone encounters, related to toll-free number also create a higher level of satisfaction. Customers are highly satisfied with the knowledge and behavior of the executives. The time taken to activate the account is dissatisfactory as there exists a promotional gap. The company promises to activate the account in 10-12 working days, but in many cases this stretches to 16-18 working days. Generally, the customers are satisfied with the demonstration, yet there is scope for improvement.
The customers have, generally, been found to be satisfied with the reply of the executives to their query. This can be inferred from the average of the query which is 3.58 and is very close to satisfaction level. The response time of the executives has also played an important role in the satisfaction level of the customers, as is clear from the average of 3.68. Brokerage charged by the company is one area where the company should work on. The satisfaction index shows the level of satisfaction in this regard to have an average of 3.24 only. Suggestions
Training to the employees to minimize deficiencies and fasten the process of account activation. Account activation duration should be decreased from the present level of 16-18 working days to the promised duration of 10-12 working days. Brokerage charged by the company should also be brought down to compete with other players. (especially in intra-day trading.) Mock demonstration should be conducted by the employees in the office itself by the onstage contact employees among themselves and they should try to assess their weakness and strengths in the presentation. Conclusion
The research was an opportunity to understand the service delivery process of a major financial institution of the country. The concept of service blueprint was used to understand customer needs and as a tool of service improvement through which all service encounters were analyzed and classified.
