A STUDY ON CUSTOMER SATISFACTION

“A STUDY ON CUSTOMER SATISFACTION”
WITH RESPECT TO
“ICICI direct.com”

INDEX

Chapter particular Page nos.
Chapter I Introduction to the study
1
Chapter II Profile of the organization
8
Chapter III Theoretical background
28
Chapter IV Data Interpretation and Collection
44
Chapter V Findings and Suggestions, Conclusion
54
Chapter VI Annexure
57
Chapter VII Bibliography
59

Introduction to study

The capital market consists of two kinds (a) Primary market, (b) Secondary market. Primary market is popularly known as new issue market.
Secondary market is an important component of capital market. The stock exchanges are known as secondary market.
To learn more about how customers can earn through the stock market, on has to understand how it works. A person desirous of buying /selling shares in the market has to first place his order with a broker. When the buy order of the shares is communicated to the broker he routes the order through his system to the exchange. The order stays in the queue exchanges system and gets executed when the order logs on the system within buy limit that has been specified. The shares purchased will be sent to purchaser by the broker either in physical or demat format.
Customer can buy and sell securities on the stock exchanges, through online automated order processing system provided by the company. Customer can log on at any time, during or after trade hour and place an order. The online investment option of ICICI Direct is safest way to the investor to invest in Mutual Fund, IPO, Bonds and Postal Saving.ICICIdirect.com thrives continuous endeavor to satisfy its customers and provide them with the highest level of convenience.
Survey reveals the needs, perception and opinion etc of the existing customers of the ICICI direct.com. This survey also tells about the satisfaction of the customers towards the services provided by the ICICI direct.com. the changing scenario of the today’s Hi-tech business era ICICI direct,com. provides the online share trading and holding of the scrip’s.

1.1 Methodology

 Sampling design: -

A sampling design is a definite plan for obtaining a sample from a given sample limit. It refers to technique or procedure the researcher would adopt in selecting items for the sample, sample design is determined before data allotted.

 Sample units: -

Here the ICICI Direct.com existing customers are the sample unit for taking the feedback regarding the level of customer satisfaction.

 Sample size: -

The Sample limit has 100 customers.

 Primary Data: -

Primary data is a data collected for the first time and which is new to the study. Primary Data has been collected through the questionnaire from existing customer of ICICI direct.com. Pune branch.

 Secondary Data: -

It already exists data, which has collected through magazines and internal document of the organization, website of icicidirect.com etc which helped to the researcher in study.

 Research approaches :-

There can be four ways of collecting data observation focus, graph and experimental. These study closely related to survey method.

 Research instruments:-

Research instruments used for collecting primary data is questionnaire for this study the research instruments used was questionnaire.

 Questionnaire: -

A Questionnaire is a set of question with or without blank space for recording answers. The question can secure the relevant facts or opinion from informal and interested respondent included in the sample survey. Researcher had taken the help of the questionnaire for this survey of the customer satisfaction.

1.2 Objective of the study

The main objective of the study was the survey of the level of the customer satisfaction with reference to ICICI direct.com. To study the efforts taken for to achieve the customer satisfaction towards the ICICI direct.com.

1. To know the consumer behavior of the Customers of ICICI direct.com.
2. To know the reason for which the customers are attracted towards ICICI direct.com
3. To know which services provided by ICICI direct.com, are mostly attracted by the customers.
4. To study the efforts taken by management for the purpose maintaining quality and services in the customer satisfaction.

1.3 Importance of the study

1. The study will be useful to organization in content of understanding customer satisfaction and it will also useful to organization in relation to possible modification in present market system.
2. The study will be useful to the other experts and the student’s researchers to study in the same area.
3. The study may help to organization to improve their quality in dealing its customers.
4. The study will be remaining as guidance for the organization for better customer satisfaction.
5. The study may help the organization to plan future policies and strategies for better costumer satisfaction.
6. The project study will be help in finding solutions of the problem faced by customer and the problems faced by the organization.

1.4 Scope of the study

The scope of the study was limited to Pune city. As the sample size was 100 customers only. In today’s cutthroat competition to increase the market share there is need to satisfy the customer’s needs and wants. For this purpose all organizations are required to conduct research work to understand customer’s needs and expectation from the company.
For every research work the study may have geographical conceptual scope. As subject to the products limited to the study to the Pune district. The survey conducted will give the details about the customer satisfaction level responding product and services.

1.5 Limitations of the study

1. The study was limited carried out in Pune and its vicinity with sample size of 100
2. Time was a constraint in study as only 50 day allotted.
3. The information gathered was based on customers’ response to questionnaire. Even then a genuine attempt has been made to get correct data from them.
4. Sample drawn need not be true representative and may have led to same Sampling error.
5. Financial factors are not considered.
6. Suggestions are not verified.

1.6 Chapter Scheme

Chapter 1:-
- The first chapter is about the introduction to the study in which it defines methodology, objectives of the study, scope and limitation to the study, importance of the study etc.

Chapter 2:-
- The next chapter is about the Profile of the Organization in which about the ICICI direct.com., History of the ICICI bank, Product’s and services of the ICICI direct.com., Stock idea and research product, market share of the ICICI bank etc.

Chapter 3:-
- Theoretical background consists of the customer satisfaction, and what customer expect from the organization and customer satisfaction management process etc.
Chapter 4:-
- This chapter consists of Data collection and Interpretation. The data interpretation is done by the help of questionnaire filled from the existing customers.
Chapter 5:-
- This chapter is of the findings and suggestions. The suggestions are on the basis of the survey done by the researcher.
Chapter 6:-
- Annexure

Chapter 7:-
- Bibliography

Organization Profile
Home Page of ICICI Direct.com

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2.1 Introduction

ICICI direct is product of ICICI securities Ltd. Trading with ICICI direct.com is a fast, easy transparent and hassle free way to trade in shares ICICI direct offers to the customer a wide choice of product for investing in the stock market It also allows the customer to invest in postal saving, Mutual fund and other financial product ICICI direct offers to the customer a unique 3 in 1 account.
Convenience: -
The 3 in1 accounts integrate banking broking and demat account.
When customer place a buy or sell order with ICICI direct the system checks the fund and shares available in customer bank and demat account respectively and execute the trade on exchange online the bank and demat account is automatically debited or credited. This enables the customer to trade in shares without going through the hassles of tracking settlement cycle writing cheque and transfer instruction.
Speed: -
Customer can get the latest quotes of scrip’s on ICICI direct.com place an order pronto.
Control: -
With ICICI direct.com customer get an order confirmation instantly. Customer can easily buy or sell the shares in primary and secondary market.
Independence: -
Through ICICI direct.com customer can manage their own demat and bank account directly and indirectly.
Trust: -
ICICI direct.com is part of ICICI group, an organization trusted by millions of Indian.

History of ICICI

1955:
The Industrial Credit and Investment Corporation of India Limited (ICICI) incorporated at the initiative of the World Bank, the Government of India and representatives of Indian industry, with the objective of creating a development financial institution for providing medium-term and long-term project financing to Indian businesses. Mr.A.Ramaswami Mudaliar elected as the first Chairman of ICICI Limited
ICICI emerges as the major source of foreign currency loans to Indian industry. Besides funding from the World Bank and other multi-lateral agencies, ICICI also among the first Indian companies to raise funds from International markets.

1956
ICICI declared its first Dividend at 3.5%.

1958
Mr.G.L.Mehta was appointed the 2nd Chairman of ICICI Ltd.
1960
ICICI building at 163, Back Bay Reclamation was inaugurated.
1961
The first West German loan of DM 5 million from Kredianstalt was obtained by ICICI.
1967
ICICI made its first debenture issue for Rs.6 crore, which was oversubscribed.

1969
First two regional offices in Calcutta and Madras were opened.
1972
Second entity in India to set-up merchant banking services.
Mr. H. T. Parekh appointed as the third Chairman of ICICI.
1977
ICICI sponsors the formation of Housing Development Finance Corporation. Managed its first equity public issue
1978
`Mr. James Raj appointed as the fourth Chairman of ICICI.
1979
Mr.Siddharth Mehta appointed as the fifth Chairman of ICICI.
1982
Becomes the first ever Indian borrower to raise European Currency Units.
ICICI commences leasing business.
1984
Mr. S. Nadkarni appointed as the sixth Chairman of ICICI.
1985
Mr.N.Vaghul appointed as the seventh Chairman and Managing Director of ICICI.
1986:
ICICI first Indian Institution to receive ADB Loans. First public issue by an Indian entity in the Swiss Capital Markets.
ICICI along with UTI sets up Credit Rating Information Services of India Limited, (CRISIL) India's first professional credit rating agency.
ICICI promotes Shipping Credit and Investment Company of India Limited. (SCICI)
The Corporation made a public issue of Swiss Franc 75 million in Switzerland, the first public issue by any Indian equity in the Swiss Capital Market.

1987
ICICI signed a loan agreement for Sterling Pound 10 million with Commonwealth Development Corporation (CDC), the first loan by CDC for financing projects in India.

1988
ICICI promotes TDICI - India's first venture capital company.

1993
ICICI sets-up ICICI Securities and Finance Company Limited in joint venture with J. P. Morgan.
ICICI sets up ICICI Asset Management Company.

1994
ICICI sets up ICICI Bank.

1996
ICICI becomes the first company in the Indian financial sector to raise GDR.
ICICI announces merger with SCICI.
Mr.K.V.Kamath appointed the Managing Director and CEO of ICICI Ltd

1997
ICICI was the first intermediary to move away from single prime rate to three-tier prime rates structure and introduced yield-curve based pricing.
The name "The Industrial Credit and Investment Corporation of India Limited” was changed to "ICICI Limited".
ICICI announces takeover of ITC Classic Finance.

1998
Introduced the new logo symbolizing a common corporate identity for the ICICI Group.
ICICI announces takeover of Anagram Finance.

1999
ICICI launches retail finance - car loans, house loans and loans for consumer durables.
ICICI becomes the first Indian Company to list on the NYSE through an issue of American Depositary Shares.

2000
ICICI Bank becomes the first commercial bank from India to list its stock on NYSE.
ICICI Bank announces merger with Bank of Madura.

2001
The Boards of ICICI Ltd and ICICI Bank approved the merger of ICICI with ICICI Bank.

2002
Moody’s' assign higher than sovereign rating to ICICI.
Merger of ICICI Limited, ICICI Capital Services Ltd and ICICI Personal Financial Services Limited with ICICI Bank.

ICICI Securities Ltd branches

Corporate office: -

ICICI Securities Ltd Stanrose House, Appasaheb Marathe Marg, Prabhadevi Mumbai-400025

REGION ADDRESS
Ahmedabad ICICI Bank ltd, shop No 6, sum
Complex c6 road near stadium circle,
Ahmedabad.38009
Ban galore ICICI Bank ltd, 73/1 Krishna
Ground Floor, infantry road Ban galore

Baroda ICICI Bank ltd, regional office Landmark bldg Racecourse circle gotri Road, Alkapuri Baroda-390007

Bhubaneshwar ICICI Web Trade Ltd, 99 Janpath Bhubaneshwar Orissa.

Chandigrah
ICICI Bank Ltd, sco 181/182 1st floor Sector 9-C Chandigrah-160017.

Chennai ICICI Center, Wellington plaza, shop No 42 Ground Floor, 90 Anna Salai Chennai- 600002.

Goa
ICICI Bank Ltd Regional office Rizvi Towers, 18- June Road, saint innex Goa -403001.

Hyderabad
ICICI Bank Ltd, 2nd Nerrla House No-4, Nagargun Hills, Punjagutta Hyderabad -500082
New Delhi ICICI Bank Ltd, Regional Office 114- 115 Arunachal Bldg, Barakhamba Road, Connaught Place N Delhi- 110001.

Nagpur ICICI Bank Ltd, GR. Floor Near Mawah Petrol Pump, Law College Square, West High Court Road, Nagpur- 44010.

Pune ICICI Bank Ltd, Regional Office A-Segrilla Garden, 4th Floor Bund Garden, Pune-411001.

Organization Chart

PM – Product Manager
RPM – Regional Product Manager
SM- Segment Manager
AUM- assistant Unit Manager
Agents

Important features of each page

 Home Page
• Market Snapshot:-
Update before market hours 09:30 am gives a brief snap shot on how the markets are likely to open today

• Pick of the Week: -
Update every Saturday there are 4 pick of the week featured in a month.Pick of
week features fundamental stock with a top line growth of 35% the invvestment
time frame is 6-9 month and the target price is also mentioned

• ICICI Direct sector watch:
Provides with an outlook on 16 sectors and the stocks covered carry a particular
weight age based on their likely performance in the future.

• Stock on the move:
Every fortnight stock on the move will feature 3 stocks which are likely to show significant up move (5%-7%) in the next 15 days due to change in trade setiment.
This could be due fundamental changes within the company forthcoming announcement or for purely technical reason

• Features:
Is a write up on the latest forth-coming IPO issue along with the details of the issue like price band and minimum subscription quantity.

• Expert speak:
Ask the fund manager is an interview with the details of the issue like price band and minimum subscription quantity

 Trading page:
Includes products like, Equity, Derivatives (Futures and option), Mutual Fund
(19AMCs) postal savings (NSE/KVP), IPO, Insurance (General/Life ).Special
l product offered by ICICI Direct.com
• Cash Trading :
Customer can trade buy and sell on NSE or BSE.
• Margin:
Customer can do intra day trading like buying or short selling in 131 stocks.
• Margin plus:
Under margin plus customer can do intra day trading up to 20 times there
available limit 131 stocks.
• BTST:
(Buy today sells tomorrow) Through this option customer can buy shares today
and sell tomorrow if prices are in favor of the customer before the shares comes to there demat account in 345 stocks

Shares as margin:
Customer can deposit their shares and pledge them online to create a limit which
customer can use as I nitial margin to trade in futures and option there are 479
shares available under shares as margin.

Mutual Fund:
Customer can purchase, redeem, switch and invest in systematic investment plan,
customer can choose from 19 AMCs and also view their unit holding and NAV online

Postal saving:
Customer can invest 8% Govt. of India Bonds (2003) National Saving Certificate
(Rate of Interest) tenure 72 month. Kisan Vikas Patra (Rate of Interest 7.40% pa)
tenure 103 month.

IPO:
Customer can apply for latest IPO online.
Insurance:
Customer can buy general insurance from ICICI Lombard and Life Insurance from ICICI Prudential online through ICICI Direct.com.

 News Page:
Gives the latest and breaking news to the customer from CNBC and Money Control.

 Market Page:
Provides with top gainers, top losers, volume topers, Nifty and Sensex weight age.

Derivatives Trading:
It provides the derivatives snap shot and derivatives strategy for the day, which is updated before market hour it tells to customer what they could possibly buy in the Futures and Option segment today.
 Chart Page:
It locates features on interactive charting with advanced indicators called direct technical chart.

 Research page:
Has a features like ‘stock screener’ It helps the customer to identify stocks that meet there specific criteria company snap shot view on over 5000 companies.

 Mutual Fund Page:
It helps to the customer with basic fund finder, advanced fund finder, compares funds and NAV along with MF review of latest fund being offered.
Personal Finance:
It provides tools with customer can use for there Investment planning, Retirement planning, tax and financial management.

 Customer service page:
This page gives service to the customer related to online share trading.
Advantages of ICICIdirect.com
 ICICIdirect.com offers to you a unique 3-in-1 account.
 Banking + Broking + Demat
 A unique 3-in-1 account enables you to trade in shares, mutual funds, postal savings, bonds without filling lengthily forms & doing paperwork’s.
 Therefore, financial transaction done on ICICIdirect.com is paperless, convenient, fast & hassle free.

ICICDirect.com HDFCSec Kotakstreet Sharekhan IndiaBulls MotilalOswal 5paisa
Account opening fees 750 700 550 750 500 500 675
Recurring fees for trading account 0 0 600 375
Demat AMCs 500 500 360 300 0 600 250
Demat charges Inclusive N 15 0
Cash brokerages 0.75-0.3 0.5 0.59 0.5 0.5 40p 5p
BTST brokerage Same as above 0.5 0.5 40p 50p
Margin Brokerage 0.10-0.03 0.15 0.1 0.1 15p 15
Derivatives brokerage 0.10-0.03 0.15 0.1 0.4 10p
Commodity Brokerage 0.4 50p
Product offered
Cash Y Y Y Y Y Y Y
BTST Y-Selective N Y Y Y Y Y
SPOT Y-Selective N Y N Y N Y
Funded Margin Y Y N N Y N N
Margin Y Y Y Y Y Y Y
Derivatives Y Y N Y Y Y Y
Commodities Y N N N Y N Y
IPO Y Y Y Y N N Y
Mutual Fund Y N Y N N N Y
Small Saving Y N N N N N Y
Insurance Y N N N N N Y
GOI Bonds N Y N N N
CallNTrade Y Y Y Y Y
Compare to the others

AMC: - Account maintaining Charges
BTST: - Buy today sells tomorrow
IPO: - Initial public offers
GOI: - Government of India

2.2 Products and Services
A product for every need: ICICIdirect.com is the most comprehensive website, which allows you to invest in Shares, Mutual funds, Derivatives (Futures and Options) and other financial products. Simply put we offer you a product for every investment need of yours.
1. TRADING IN SHARES:
ICICIdirect.com offers you various options while trading in shares.
Cash Trading : This is a delivery based trading system, which is generally done with the intention of taking delivery of shares or monies.
Margin Trading : You can also do an intra-settlement trading up to 3 to 4 times your available funds, wherein you take long buy/ short sell positions in stocks with the intention of squaring off the position within the same day settlement cycle.
Margin PLUS Trading : Through Margin PLUS you can do an intra-settlement trading up to 25 times your available funds, wherein you take long buy/ short sell positions in stocks with the intention of squaring off the position within the same day settlement cycle. Margin PLUS will give a much higher leverage in your account against your limits.
Spot Trading : This facility can be used only for selling your demat stocks which are already existing in your demat account. When you are looking at an immediate liquidity option, 'Cash on Spot' may work the best for you, On selling shares through "cash on spot", money is credited to your bank a/c the same evening & not on the exchange payout date. This money can then be withdrawn from any of the ICICI Bank ATMs.
BTST : Buy Today Sell Tomorrow (BTST) is a facility that allows you to sell shares even on 1st and 2nd day after the buy order date, without you having to wait for the receipt of shares into your demat account.

CallNTrade®: CallNTrade allows you to call on a local number in your city & trade on the telephone through our Customer Service Executives. This facility is currently available in over 11 major states across India.
Trading on NSE/BSE: Through ICICIdirect.com, you can trade on NSE as well as BSE.
Market Order: You could trade by placing market orders during market hours that allows you to trade at the best obtainable price in the market at the time of execution of the order.
Limit Order: Allows you to place a buy/sell order at a price defined by you. The execution can happen at a price more favorable than the price, which is defined by you, limit orders can be placed by you during holidays & non market hours too.
2. TRADE IN DERIVATIVES:
FUTURES:
Through ICICIdirect.com, you can now trade in index and stock futures on the NSE. In futures trading, you take buy/sell positions in index or stock(s) contracts having a longer contract period of up to 3 months.
Trading in FUTURES is simple! If, during the course of the contract life, the price moves in your favor (i.e. rises in case you have a buy position or falls in case you have a sell position), you make a profit.
Presently only selected stocks, which meet the criteria on liquidity and volume, have been enabled for futures trading.
Calculate Index and Know your Margin are tools to help you in calculating your margin requirements and also the index & stock price movements. The ICICIDIRECT UNIVERSITY on the HOME PAGE is a comprehensive guide on futures and options trading.

OPTIONS
An option is a contract, which gives the buyer the right to buy or sell shares at a specific price, on or before a specific date. For this, the buyer has to pay to the seller some money, which is called premium. There is no obligation on the buyer to complete the transaction if the price is not favorable to him.
To take the buy/sell position on index/stock options, you have to place certain % of order value as margin. With options trading, you can leverage on your trading limit by taking buy/sell positions much more than what you could have taken in cash segment.
The Buyer of a Call Option has the Right but not the Obligation to Purchase the Underlying Asset at the specified strike price by paying a premium whereas the Seller of the Call has the obligation of selling the Underlying Asset at the specified Strike price.
The Buyer of a Put Option has the Right but not the Obligation to Sell the Underlying Asset at the specified strike price by paying a premium whereas the Seller of the Put has the obligation of buying the Underlying Asset at the specified Strike price.
By paying lesser amount of premium, you can create positions under OPTIONS and take advantage of more trading opportunities.
3. INVESTING IN MUTUAL FUND’S:
ICICIdirect.com brings you the same convenience while investing in Mutual funds also - Hassle free and Paperless Investing.
With the inclusion of Fidelity MF, you can now invest on-line in 19 mutual Funds through ICICIdirect.com. Prudential ICICI MF, JM MF, Alliance MF, Franklin Templeton MF, Sundaram MF, Birla Sun Life MF, HDFC MF, Principal MF, UTI MF, Reliance MF, Kotak MF, Tata MF,DSP Merrill Lynch MF, ING Vysya MF,CHOLA MF, Deutsche MF,HSBC MF and Standard Chartered MF are the Mutual Funds available for investment. You can invest in mutual funds without the hassles of filling application forms or any other paperwork. You need no signatures or proof of identity for investing.
Once you place a request for investing in a particular fund, there are no manual processes involved. Your bank funds are automatically debited or credited while simultaneously crediting or debiting your unit holdings.
You also get control over your investments with online order confirmations and order status tracking. Get to know the performance of your investments through online updation of MF portfolio with current NAV.
ICICIdirect.com offers you various options while investing in Mutual Funds:
Purchase: You may invest/purchase Prudential ICICI MF, JM MF, Alliance MF, Franklin Templeton MF, Sundaram MF, Birla Sun Life MF, HDFC MF, Principal MF, UTI MF ,Standard Chartered MF ,Reliance MF, Kotak MF, Tata MF,DSP merrill lynch MF,ING Vysya MF,CHOLA MF, Deutsche MF,HSBC MF and Fidelity MF without the hassles of filling application forms.

Redemption: In addition to giving hassle-free paperless redemption, ICICIdirect.com offers faster liquidity. You can redeem the mutual fund units through ICICIdirect.com. The money will be credited to your bank account automatically 3 days after the order placement date.

Switch: To suit your changing needs you may wish to shift monies between different schemes. You can switch your monies online from one scheme to another in the same fund family without any hassles.

Systematic Investment plans (SIP): SIP allows you to invest a certain sum of money over a period of time periodically. Just fill in the investment amount, the period of investment and the frequency of investing and submit. ICICIdirect.com will do the rest for you automatically investing periodically for you.

Systematic withdrawal plan: This allows you to withdraw a certain sum of money over a period of time periodically.

4. IPOs AND BOND’S ONLINE:
You could also invest in Initial Public Offers (IPO’s) and Bonds online without going through the hassles of filling ANY application form/ paperwork.
Get in-depth analyses of new IPO’s issues (Initial Public Offerings) which are about to hit the market and analysis on these. IPO calendar, recent IPO listings, prospectus/offer documents, and IPO analysis are few of the features, which help you, keep on top of the IPO markets.
5. Content Features:

There are a host of features on ICICIdirect.com that shall help you make informed investment decisions. We provide you with the indices of major world markets, nifty futures and ADR prices of Indian scrip’s. Get daily share prices of all scrip’s, monthly and yearly high/lows etc through Market Watch.
Get breaking news from CNBC and Reuters. Catch a glimpse of News Headlines through our scrolling Direct News Headlines. Get a snapshot of the latest developments in the markets through the day using Market Commentary. You can get weekly snapshots also. Use Pick of the week which focuses on fundamental stocks with sound prospects.
Catch interviews, reactions and comments from industry leaders with CEO Call. Track the movement of leading scrip’s within a sector across 12 sectors using Market@Desktop. Equip yourself with our barometers. Market Barometer gives you in-depth information of the weightages of shares on Nifty and Sensex. Get a glimpse of the performance of various industry sectors through Industry Barometer.
Direct Technical Charts offer interactive charting with advanced indicators. Get a bird’s eye views of over 5000 companies at a single click using Company Snapshot. Glance through analyst recommendations using Multex Global Estimates.

In case, you are not too comfortable with share trading, try our Learning Centre, which is a tutorial on investments and My Research that helps you to research a stock better.

6. Personal Finance:
Use our Personal Finance section and get hold of tools that can help you plan your investments, retirement, tax etc. Analyze your risk profile through the Risk Analyzer and get a suitable investment portfolio plan using Asset Allocator.
7. Customer Service Features:

With 'ICICI direct Customer Tools & Updates' you can trouble shoot all your problems online. Address your trading queries on-line through "Easy Mail". You can view and change your profile or password on-line through General Profile option.
Get details of ICICI Centers, our sales and service offices, across India through branch locator. View your Account Statement and Bill Summary of your transactions online using bills & accounts.
View your Digital Contract Notes instantly. View various charges through the Fee Schedule option
Give your feedback or viewpoint through the Viewpoint online.
Enroll yourself for various ICICI direct Workshops through Register for Customer Sessions.

BROKERAGE STRUCTURE OF THE ICICI direct.com

PRODUCTS MINIMUM ORDER VALUE BROKERAGE MINIMUM BROKERAGE
CASH TRADING Rs.500 0.70% Transaction value + STT+ service tax. Rs.25
MARGIN/ MARGIN PLUS TRADING Rs.500 0.10% Transaction value + STT + Service tax on both sides. Rs.15
BTST Rs.500 0.70% Rs.25

SPOT TRADING Rs.500 1% Transaction value + STT +Service tax Rs.25
FUTURE & OPTIONS 0.05% Transaction value + STT + Service tax
MUTUAL FUND’S Rs.5000 No. Brokerage
POSTAL SAVING & BOND’S Rs.1000 No. Brokerage
IPO Depends on lot size of stock. No. Brokerage

3.1 Customer satisfaction

“Satisfaction level is the level of persons felt state resulting from comparing products perceived performance (or outcome) in relation to the person’s expectation.”

Thus satisfaction level is function of difference between perceived performance & expectation. A customer could experience one of three broad levels of satisfaction:

• If the performance falls short of expectations, the customer is dissatisfied.

• If the performance matches to the expectations of the customer, then the customer is satisfied.

• If the performance exceeds the expectations of the customer, the customer is highly satisfied, pleased or delighted.

But how do the customer expectations? Expectations are formed on the basis of the buyers past buying experience statements made by the friends & associates, & marketer & competitor information & promises. If marketers raise the expectations too high the buyer is likely to be disappointed.

Some of the today’s most successful companies are raising expectation & delivering the performance. The companies are aiming high because customers who are just satisfied will still find it easy to switch supplier when a better offer comes along. The fact is that high satisfaction or delight creates an emotional affinity with the brand, not just a rational preference, and this creates customers high loyalty.

Companies seeking to win in today’s markets must track their customers expectations perceived company performance, and customer satisfaction. They need to monitor this for the competitors as well. Companies’ that achieve high customer satisfaction ratings make sure that their target market knows it. The customer centered firms seeks to create high customer satisfaction it is not out to maximize customer satisfaction.

 First they can increase the customer satisfaction by lowering the price or increasing its services, but this may result in low profits.

 Second, the company might be able to increase its profitability in the other ways, such as by improving its manufacturing or investing more in R&D.

 Third; the company has many stakeholders including employees, dealers, suppliers & stockholders. Spending more to increase the customer satisfaction would divert funds from increasing the satisfaction of the other “partners”. Ultimately, the company must operate on the philosophy that it is trying to delivery a high level of customer satisfaction level subject to delivering at least acceptable levels of the satisfaction to the other stockholders within the constraints of its total resources.

3.2 Method’s of tracking and measuring customer satisfaction

Complaint and suggestions system

A customer centered organization would make it easy for its a customer to deliver suggestions and complaints. Many restaurants and hotels provide forms for guests to report likes and dislikes. A hospital could place suggestion boxes in the corridors, supply comment cards to the exiting patients, and hire patient advocate to handle patient grievances. Some customer centered companies – P&G, General Electric, and Whirlpool – establish “customer hot lines” with a toll free 800 telephone numbers to maximize the ease with which the customers can inquire, make suggestions, or complain. These information flows provide these companies with many good ideas and enable them to act more rapidly to resolve the problems.

3.3 Customer satisfaction surveys

A company must not conclude that it can get a full picture of customer satisfaction & dissatisfaction by simply a complaint & suggestion system. A study shows that customers are dissatisfied with one out of the four and less than 5% of the dissatisfied customers will complain. Customers may feel that their complaints are minor, or that they will be made to be stupid, or that no remedy will be offered. Most customers will buy less or switch the suppliers rather than complain. The result is that company has needlessly lost the customer.
Therefore, companies cannot use the complaint levels as a measure of customer satisfaction. Responsive companies obtain a direct measure of customer satisfaction by conducting periodic surveys. They send questionnaires or make telephone calls to random sample of their recent customer to find out how they feel about various aspects of the companies performance.
Customer’s satisfaction can be measured in number of ways. It can be measured directly by asking: “indicate how satisfied you are with the service X on the following scale: highly satisfied” (directly reported satisfaction). Respondents can be asked as well to rate how much they are expected of as certain attribute and also how much they are experienced (derived satisfaction). Still another method is to ask respondents to list any problems they have had with the offer and to list any improvements they could suggest (problem analysis). Finally, companies could respondents to rate various elements of the offer in the terms of the importance of the each element and how well the organization performed each element (importance/ performance ratings).this last method helps the company to know if it is underperforming on important elements and over performing on relatively unimportant elements.
While, collecting customer satisfaction data, it would also be useful to ask additional questions to measure the customers repurchase intention; this will normally be high if the customer satisfaction is high.
Ghost shopping

Another useful way to gather a picture of customer satisfaction is to hire the persons to pose as the potential buyers to report their findings on strong and weak points they experienced in buying the companies & competitors product. These ghost shoppers can even pose certain problems to test whether to companies sales personnel handle the situation well. Thus a ghost shopper can complain about a restaurants food to test how the restaurant handles this complaint. Not only should companies hire ghost shoppers, but managers themselves should leave their office to time to time, enter company & competitor sales situation where they are unknown and experienced firsthand the treatment they revive as the “customers”

Lost Customer Analysis

Companies should contact customers who have stopped buying have switched to another supplier to learn why this is happened. When IBM loses a customer, they mount a thorough effort to learn where they failed – is their price too high, their service deficient, their products unreliable, and so on. Not only is it important to conduct exit interviews but also to monitor the customer loss rate which, if it is increasing, clearly indicates that the company is failing to satisfy its customers.

Some cautions in measuring Customer Satisfaction

When customers rate their satisfaction with an element of the company’s performance, say delivery, we need to recognize that customers will vary in how they define good delivery; it could mean early delivery, on-time delivery, order completeness, and so on. Yet if the company had to spell out every element in detail, customers would face a huge questionnaire. We must also recognize that two customers can report being “highly satisfied” for a different reasons. One may be easily satisfied most of the times and the other might be hard to please on this occasion.
Companies should also note that managers and salespersons can manipulate their rating on the customers on customer satisfaction. They can be especially nice to customers just before the survey. They can also try to exclude unhappy customers from the included in the survey.
One of the danger is that if the customer know that the company will go out of its way to please the customers, some customers may want to express high dissatisfaction(even if satisfied) in order to receive more concessions.

3.4 Investing!! What's that?

Judging by the fact that you've taken the trouble to navigate to the Learning Center of ICICIDirect, our guess is that you don't need much convincing about the wisdom of investing. However, we hope that your quest for knowledge/information about the art/science of investing ends here. Sink in. Knowledge is power. It is common knowledge that money has to be invested wisely. If you are a novice at investing, terms such as stocks, bonds, badla, undha badla, yield, P/E ratio may sound Greek and Latin. Relax. It takes years to understand the art of investing. You're not alone in the quest to crack the jargon. To start with, take your investment decisions with as many facts as you can assimilate. But, understand that you can never know everything. Learning to live with the anxiety of the unknown is part of investing. Being enthusiastic about getting started is the first step, though daunting at the first instance. That's why our investment course begins with a dose of encouragement: With enough time and a little discipline, you are all but guaranteed to make the right moves in the market. Patience and the willingness to pepper your savings across a portfolio of securities tailored to suit your age and risk profile will propel your revenues at the same time cushion you against any major losses. Investing is not about putting all your money into the "Next Infosys," hoping to make a killing. Investing isn't gambling or speculation; it's about taking reasonable risks to reap steady rewards. Investing is a method of purchasing assets in order to gain profit in the form of reasonably predictable income (dividends, interest, or rentals) and appreciation over the long term.

Why should you invest?
Simply put, you should invest so that your money grows and shields you against rising inflation. The rate of return on investments should be greater than the rate of inflation, leaving you with a nice surplus over a period of time. Whether your money is invested in stocks, bonds, mutual funds or certificates of deposit (CD), the end result is to create wealth for retirement, marriage, college fees, vacations, better standard of living or to just pass on the money to the next generation. Also, it's exciting to review your investment returns and to see how they are accumulating at a faster rate than your salary.

• When to Invest?
The sooner the better. By investing into the market right away you allow your investments more time to grow, whereby the concept of compounding interest swells your income by accumulating your earnings and dividends. Considering the unpredictability of the markets, research and history indicates these three golden rules for all investors 1. Invest early 2. Invest regularly 3. Invest for long term and not short term while it’s tempting to wait for the “best time” to invest, especially in a rising market, remember that the risk of waiting may be much greater than the potential rewards of participating. Trust in the power of compounding is growth via reinvestment of returns earned on your savings. Compounding has a snowballing effect because you earn income not only on the original investment but also on the reinvestment of dividend/interest accumulated over the years. The power of compounding is one of the most compelling reasons for investing as soon as possible. The earlier you start investing and continue to do so consistently the more money you will make. The longer you leave your money invested and the higher the interest rates, the faster your money will grow. That's why stocks are the best long-term investment tool. The general upward momentum of the economy mitigates the stock market volatility and the risk of losses. That’s the reasoning behind investing for long term rather than short term.

How much money do I need to invest?
There is no statutory amount that an investor needs to invest in order to generate adequate returns from his savings. The amount that you invest will eventually depend on factors such as: Your risk profile Your Time horizon Savings made All the above three factors will be discussed in brief in the latter part of the course.

• What can you invest in?
The investing options are many, to name a few Stocks Bonds Mutual funds Fixed deposits Others Read about them in detail in module 2 of the course.

• What are options?
Some people remain puzzled by options. The truth is that most people have been using options for some time, because options are built into everything from mortgages to insurance. An option is a contract, which gives the buyer the right, but not the obligation to buy or sell shares of the underlying security at a specific price on or before a specific date. ‘Option’, as the word suggests, is a choice given to the investor to either honour the contract; or if he chooses not to walk away from the contract. To begin, there are two kinds of options: Call Options and Put Options. A Call Option is an option to buy a stock at a specific price on or before a certain date. In this way, Call options are like security deposits. If, for example, you wanted to rent a certain property, and left a security deposit for it, the money would be used to insure that you could, in fact, rent that property at the price agreed upon when you returned. If you never returned, you would give up your security deposit, but you would have no other liability. Call options usually increase in value as the value of the underlying instrument rises. When you buy a Call option, the price you pay for it, called the option premium, secures your right to buy that certain stock at a specified price called the strike price. If you decide not to use the option to buy the stock, and you are not obligated to, your only cost is the option premium. Put Options are options to sell a stock at a specific price on or before a certain date. In this way, Put options are like insurance policies If you buy a new car, and then buy auto insurance on the car, you pay a premium and are, hence, protected if the asset is damaged in an accident. If this happens, you can use your policy you pay a premium and are, hence, protected if the asset is damaged in an accident. If this happens, you can use your policy

• The Mutual Fund Industry
The genesis of the mutual fund industry in India can be traced back to 1964 with the setting up of the Unit Trust of India (UTI) by the Government of India. Since then UTI has grown to be a dominant player in the industry. UTI is governed by a special legislation, the Unit Trust of India Act, 1963.
The industry was opened up for wider participation in 1987 when public sector banks and insurance companies were permitted to set up mutual funds. Since then, 6 public sector banks have set up mutual funds. Also the two Insurance companies LIC and GIC have established mutual funds. Securities Exchange Board of India (SEBI) formulated the Mutual Fund (Regulation) 1993, which for the first time established a comprehensive regulatory framework for the mutual fund industry. Since then several mutual funds have been set up by the private and joint sectors.

• Growth of Mutual Funds
The Indian Mutual fund industry has passed through three phases. The first phase was between 1964 and 1987 when Unit Trust of India was the only player. By the end of 1988, UTI had total asset of Rs 6,700 crores. The second phase was between 1987 and 1993 during which period 8 funds were established (6 by banks and one each by LIC and GIC).This resulted in the total assets under management to grow to Rs 61,028 crores at the end of 1994 and the number of schemes were 167.
The third phase began with the entry of private and foreign sectors in the Mutual fund industry in 1993. Several private sectors Mutual Funds were launched in 1993 and 1994. The share of the private players has risen rapidly since then. Currently there are 34 Mutual Fund organizations in India. Kothari Pioneer Mutual fund was the first fund to be established by the private sector in association with a foreign fund.
This signaled a growth phase in the industry and at the end of financial year 2000, 32 funds were functioning with Rs.1, 13,005 crores as total assets under management. As on August end 2000, there were 33 funds with 391 schemes and assets under management with Rs.1, 02,849 crores. The Securities and Exchange Board of India (SEBI) came out with comprehensive regulation in 1993 which defined the structure of Mutual Fund and Asset Management Companies for the first time
3.5 Indian Stock Market Overview

The Bombay Stock Exchange (BSE) and the National Stock Exchange of India Ltd. (NSE) are the two primary exchanges in India. In addition, there are 22 regional stock exchanges in however, the BSE and NSE have established themselves as the two leading exchange and account for about 80 percent of the equity volume trade in India The NSE and BSE are equal in size in terms of daily traded volume The average daily turnover at the exchanges has increased from 851 crore in 1997-98 to Rs.1284 crore in 1998-99 and further to Rs.2273 crore in 1999-2000 (April- August1999). NSE has around 1500 shares listed with a total market capitalization of around Rs.921500 crore (Rs9215-Bln) The BSE has over 6000stock listed and has market capitalization of around Rs.968000 crore (Rs.9680-Bln) most key stocks are traded on both the exchanges and hence the investor could buy them on either exchanges. Both exchanges have different settlement cycle, which allows investor to shift their position on the bourses. The primary index of BSE is BSE Sensex comprising 30 stocks NSE has the S&P NSE 50index (Nifty), which consists of fifty stocks. The BSE Sensex is the older and more widely followed index. Both these indices are calculated on the basis of market capitalization and contained the heavily traded shares from key sector. The markets are closed on Saturday and Sunday. Both exchanges have switched over from the open outcry trading system to a fully automated computerized mode of trading known as BOLT (BSE Online Trading) and NEAT (National Exchange Automated Trading) system. It facilitates more efficient processing; Automatic Order matching, faster execution of trades transparency. The scrip’s traded on the BSE have been classified into ‘A’, ‘B1’,’B2’,’C’,’F’and ‘Z’ groups. The ‘A’ group shares represent those, which are in the carry forward system (Badla). The ‘F’ group represents the debt market (Fixed Income Securities) segment. The ‘Z’ group scripts are the blacklisted companies. The ‘C’ group covers the odd lot securities in ‘A’, ‘B1’ and ‘B2’ groups and rights renunciation. The key regulator governing stock exchanges, Brokers, Depositories, Depository participants Mutual Funds, FllS and other participants in Indian secondary and primary market is the securities and exchange board of India (SEBI) Ltd.

Bombay Stock Exchange (BSE)

The Bombay Stock Exchange Limited
(Formerly, The Stock Exchange, Mumbai; popularly called The Bombay Stock Exchange, or BSE) is located at Dalal Street, Mumbai. Established in 1875, it is the oldest stock exchange in Asia. There are around 3,500 Indian companies listed with the stock exchange, and has a significant trading volume. As of July2005, the market capitalization of the BSE was about Rs20 trillion (US $ 466 billion). The BSE Sensex (SENSITIVE INDEX), also called the BSE 30, is a widely used market index in India and Asia. As of 2005, it is among the 5 biggest stock exchanges in the world in terms of transactions volume. Along with the NSE, the companies listed on the BSE have a combined market capitalization of US$ 125.5 billion.
History
An informal group of 22 stockbrokers began trading under a banyan tree opposite the Town Hall of Bombay from the mid-1850s, each investing a (then) princely amount of Rupee 1. This banyan tree still stands in the Horniman Circle Park, Mumbai. The informal group of stockbrokers organized themselves as the The Native Share and Stockbrokers Association which, in 1875, was formally organized as the Bombay Stock Exchange (BSE).
In January 1899, the stock exchange moved into the Brokers’ Hall after it was inaugurated by James M Maclean. After the First World War, the BSE was shifted to an old building near the Town Hall. In 1928, the plot of land on which the BSE building now stands (at the intersection of Dalal Street, Bombay Samachar Marg and Hammam Street in downtown Mumbai) was acquired, and a building was constructed and occupied in 1930.
Premchand Roychand was a leading stockbroker of that time, and he assisted in setting out traditions, conventions, and procedures for the trading of stocks at Bombay Stock Exchange and they are still being followed.
Several stock broking firms in Mumbai were family run enterprises, and were named after the heads of the family. The following is the list of some of the initial members of the exchange, and who are still running their respective business.
• D.S. Prabhudas & Company (now known as DSP, and a joint venture partner with Merrill Lynch)
• Jamnadas Morarjee (now known as JM)
• Champaklal Devidas (now called Cifco Finance)
• Brijmohan Laxminarayan
In 1956, the Government of India recognized the Bombay Stock Exchange as the first stock exchange in the country under the Securities Contracts (Regulation) Act.
The BSE moved into its current premises - the Phiroze Jeejeebhoy Towers - in 1980. The Bombay Stock Exchange followed the familiar outcry system for stock trading up until 1995, when it was replaced by an electronic (e-Trading) system. In 2005, the status of the exchange changed from an Association of Persons (AoP) to a full fledged corporation under the BSE (Corporatization and Demutualization) Scheme, 2005 (and its name was changed to The Bombay Stock Exchange Limited).

National Stock Exchange Ltd

The National Stock Exchange of India Limited has genesis in the report of the High Powered Study Group on Establishment of New Stock Exchanges, which recommended promotion of a National Stock Exchange by financial institutions (FIs) to provide access to investors from all across the country on an equal footing. Based on the recommendations, NSE was promoted by leading Financial Institutions at the behest of the Government of India and was incorporated in November 1992 as a tax-paying company unlike other stock exchanges in the country.
On its recognition as a stock exchange under the Securities Contracts (Regulation) Act, 1956 in April 1993, NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The Capital Market (Equities) segment commenced operations in November 1994 and operations in Derivatives segment commenced in June 2000.

The capital market of India consists of two kinds
A. Primary Market
B. Secondary Market

Primary Market: -

Primary market is known as new issue market is also called as ‘Public Issue’ in the primary market new securities are sold or exchanged for cash, credit or other securities. The new securities can be issued by existing companies are newly floated companies. The primary market can be defined as, “A market where new securities are brought and sold for first time.”
It is the market where the capital formation process will take place. The huge amounts of financial resources are mobilized by the corporate sector through public issue.
Secondary Market: -

Secondary market is an important component of capital market. The stock exchanges are known as the secondary market. They play an important role in securities market. In the stock exchanges the Govt securities, Bonds, Investment, Trust debentures and other instruments are traded. It is a medium of transfer of resources for the circulated. In the stock securities issued in the primary market markets are bought and sold. It does not create any financial claim purchases and sales of the existing stocks and bonds occur in this market. Transaction in the secondary market do not provides fund to the corporate sector. But the strong secondary market movements create a high demand for new issue market.

Investment
1. Mutual fund:
Mutual fund is one of the innovative banking systems. The mutual fund have been set up mainly by the subsidiaries of the public sector banks for e.g. SBI, Canara bank, Punjab national bank, Bank of India, Andhra bank, LIC, GIC also have set up mutual fund. Till 1986 UTI has monopoly of this business in India. At present the other mutual fund have also come up in the market. Mutual fund is either open ended or close-ended financial intermediaries. They procure money selling the units to the investors. They provide to obtain high return low risks combination fro their indirect holding of equities and other assets. They can be classified as growth oriented or Income oriented or income and growth oriented funds.
2. Insurance:

Insurance companies invest the savings of their policyholders. The policyholder will pay the amount to the insurance is just a contract between two parties. The insurance company undertakes in consideration of sum money to make good to the loss suffered by the party against a specified risk. There are two parties in a Insurance contract

(a) Insurer
(b) Insured / Beneficiary
The insurer is known as Insurance Company. The insured means a personal party who are willing to undertake an arrangement with an insurer. The terms of contract will be laid down in a document is known as policy. The property, which is insured, is the subject matter of insurance. The property may be insured against loss arising from uncertain events.

3. IPO (Initial Public Offer)

A company first sale of stock to the public securities offer in an IPO roufside
equity capital and public market for their stock. Investor purchasing stock in
IPO generally must be prepared to accept very large risk for the possibility of
large gains. IPO by investment company (closed and Fund) usually contain
under writing fees, which represent a load to buyers.

4. Bonds: -

Investing in government of India bonds is a risk free investment option available
to the customer. Investment in govt. India bonds offline, would involve filling
physical application forms and writing cheques Customers can invest in corporate
bond, municipal bond and treasury bond.
.

5. Postal Saving: -

National saving certificate and Kisan Vikas Patra have has always been consider as some of the safer investment option NSC offers interest @8% with no upper
limit for the maximum subscription per year. Also investment in NSC up to 1 lakh
is eligible for tax break nder section 80CCE of Income Tax Act.

6. Derivatives: -

Derivatives have become very important in the field finance. They are very important financial instrument for risk management as they allow risk and act as form of insurance. The shift of risk means that each party involved in the contract should be able to identify all the risk involved before the contract is agreed. It is also important to remember that derivatives are derived from an underlying asset. This means that risk in trading derivatives may change depending on what happens to the underlying asset.
A derivative is product whose value is derived from the value of an underlying asset, index or reference rate. The underlying asset can be equity, forex commodity or any other asset. For example, if the settlement price of derivatives is based on the stock price of a stock for e.g. infosys, which frequently changes on the daily basis. The means that derivatives risk and position must be monitored constantly.

What is Dematerialization?
Dematerialization in short called, as ‘demat’ is the process by which an investor can get physical certificate converted in to electronic form maintained in an account with the depository participant. The investor can Dematerialize only those share certificates that are already register in their name and belong to the list of securities admitted for dematerialization at the depositories.

Depository:
The organization responsible to maintain investor’s securities in the electronic form is called the depository. In other words, a depository can therefore be conceived of as a “Bank” for securities. In India there are two such organization viz. NSDL and CDSL. The depository concept is similar to the banking systems with the exception that bank handle funds whereas a depository handles securities of the investors. An investor wishing to utilize the services offered by a depository has to open an account with the depository through Depository participant.

Depository participant:
The market intermediary through whom the depository services can be availed by the investors is called a Depository participant (DP). As per SEBI regulation, DP could be organization involved in the business of providing financial services like bank, brokers, custodians and financial institution. This system of using the existing distribution channel (mainly constituting DPs) helps the depository to reach a wide cross section of investors spread across a large geographical area at a minimum Cost. The admission of DPs involves a detailed evaluation by the depository of their capability to meet with the strict service standards and a further evaluation and approval from SEBI. Realizing the potential, all the custodians in India and a number of banks, financial institution and major brokers have already joined as DPs to provide services in number of cities.

Procedure to dematerialize your share certificate:
Fill up dematerialization request form, which is available with your DP. Submit your share certificate along with form; (write “surrendered for demat” on the face of the certificate before submitting it for a demat) Receive credit for the dematerialized shares into your account within 22 days.

Opening of a demat account through ICICI Direct:

Opening an e invest account with ICICI Direct, will enable you to automatically open a demat account with ICICI, one of the largest DP in India, thereby avoiding the hassles of finding an efficient DP. Since the shares to be bought or sold through ICICI Direct will be only in the demat form, it will avoid the hassles of instructing the brokers to buy shares only in a demat form. Adding to this, you will not face problems like checking whether your broker has transferred the shares from his clearing account to your demat account.

4.1. Table showing bifurcation regarding media from which the respondents come to know about ICICI direct.com

Particular NO of respondent Per
Friends 12 12%
Relatives 26 26%
Agents 56 56%
Advertisements 6 06%

The above table show 12% respondent come to know about online share trading from Friends, 26% respondent comes to know from there relatives and 56% respondent comes to know from the agents as well as 6% respondents come to know from advertisements about online share trading firm.

4.2. Percentage showing bifurcation of the respondent on the basis the time from when the customer trading in the ICICIdirect.com.

Particular NO of respondent Per
1-3months 20 20%
3-6 months 34 34%
6-9 months 22 22%
9-12 months and before 24 24%

The above table show 12% respondent operate there demat account 1-3 months, 34% respondent operate there demat account from 3-6 months as well as 22% respondent operate demat account from 6-9 months and remaining 24% respondent operate there demat account from 9-12 months.

4.3. Percentage showing bifurcation of respondent on the basis how does respondent trade in the ICICIdirect.com

Particular NO of respondent Per
Online-share trading 94 94%
CallNTrade 6 6%

The above table shows 94% respondent trade in the ICICIdirect.com through online-share trading and remaining 6% respondent trade through CallNTrade.

4.4. Percentage showing bifurcation of respondent regarding which service of the ICICIdirect.com is mostly attracted.

Particular NO of respondent Per
Fund transfer mechanism 33 33%
Brokerage Rates 7 7%
Safety & Security 29 29%
Online trading 31 31%

The above table show 30% respondent are mostly attracted through Fund Transfer Mechanism , 6% respondent are mostly attracted through Brokerage Rates and 26% respondent are mostly attracted through safety & Security as well as 28% respondent are mostly attracted through online Trading.

4.5. Percentage showing bifurcation of respondent on the basis of which product does the respondent prefer in investing.

Particular No Of respondents Per
Equity 32 32%
IPO’s 8 8%
Mutual Funds 30 30%
Both Equity & Mutual Fund 30 30%

The above table show 32% respondent prefer to invest in equities and 8% respondent prefer to invest in IPO’s and 30% respondent prefer to invest in Mutual Funds as well as 30% respondent prefer to invest in both equities and Mutual Funds.

4.6. Percentage showing bifurcation of respondent on the basis which trading facility the respondent frequently prefer while trading.

Particular NO of respondent Per
Delivery Trading 14 14%
Day trading 18 18%
Margin plus 6 6%
BTST 4 4%
Cash on Spot 2 2%
Both Delivery & Day Trading 56 56%

The above table show 14% respondent prefer Cash or Delivery option while trading and 18% respondent prefer to Day Trading and 6% respondent prefer Margin plus, 4% respondent prefer BTST, 2% respondent prefer Cash on Spot as well as 56% respondent prefer Both Delivery and Cash Trading.

4.7. Percentage showing bifurcation of respondent on the basis whether respondents were interested in commodity market.

Particular NO of respondent Per
Yes 24 24%
No 76 76%

The above table shows 24% respondent are interested in commodity market and 76% respondent are not interested in commodity market because it is newly launched in the Solapur branch.

4.8. Percentage showing bifurcation of respondent on the basis need of training in the various products of the ICICI securities Ltd.
Particular NO of respondent Per
Equity 6 6%
Derivatives 2 2%
Mutual Fund 14 14%
Commodity 8 8%
IPO’s 6 6%
Both equities and Mutual Fund 16 16%
All 48 48%

The above table show 6% respondent need the training in equities, 2% respondent need the training in derivatives, 14% respondent need the training in Mutual Funds, 8% respondent need the training in Commodity, 6% respondent need the training in IPO’s, 16% respondent need the training in both equities and mutual Funds and 48% respondent need the training in All products in ICICIdirect.com.

4.9. Percentage showing bifurcation of respondent on the basis need of Transact in statement, Demat Statement and Contract Notes physically.

Particular NO of respondent Per
Yes 32 32%
No 68 68%

The above table show 32% respondent need the transact in statement, Demat statement, contract notes physically and 68% don’t need.

4.10. Percentage showing bifurcation of respondent on the basis of their overall satisfaction level towards the online share trading firm.

Particular NO of respondent Per
Excellent 66 66%
Very Good 14 14%
Good 8 8%
Fair 12 12%

The above table show 66% respondent are highly satisfied with there online share firm and 14% respondent are getting medium level satisfaction remaining 8% respondents getting average satisfaction and 12% respondent getting less satisfaction from there online share trading firm.

5.1 FINDINGS OF THE STUDY

1. The researcher found that only very few respondents were come to know from the advertisement media. This shows that advertisement media is not able to attract to the potential customers.
2. The other sources of the trading like CallNTrade and offline trade are not used to trade frequently by the customers.
3. Mostly customers are attracted to Safety and security and then fund transfer mechanism and online share trading.
4. Most of the customers tend to invest in the Equities and Mutual Fund.
5. The researcher found that most of the customer’s trade through Cash (delivery) and Day trading, also BTST and Margin are popular.
6. Researcher also found that many customers were attracting towards the Commodity market as it was launch in Pune branch.
7. As the trading on ICICI Securities Ltd. is new thing to customer therefore training is needed for mostly for all products.
8. The most of the customers don’t need the physical transact in statement, demat statement, contract notes etc, Because ICICI direct.com is facilitates online trading & holdings for the scrip’s.
9. The last but not least finding of the study was the most of the customers are fully satisfied with services of the ICICI direct.com and rests are partly satisfied.

5.2 SUGGESTIONS TO THE COMPANY

A. Advertisements
1. The company should give more emphasis on advertisement media to make aware to customers about the ICICI direct.com through regular pamphlet distribution in local news paper and TV advertisement.
2. The company should motivate the investors to invest in other sources of investing such as insurance, postal saving and commodity market etc.

B. Awareness & Training to the customers
1. The company should increase the awareness regarding the brokerage rates why they are high and how, because the other service providers are offering this on cheaper rates.
2. The company should give training to the customers regarding to how to trade on the icicidirect.com for every product as per it is needed.
3. The company should increase awareness about the various other type of the trading like spot trading, margin trading.

C. Suggestion from Customers
1. The company should offer the Transact in statement, Demat statement and Contract notes physically to the customers.
2. Organization should concentrate on Govt. employee to attract them towards online share trading by the attractive scheme.

5.3 Conclusion

Though share trading is not a cup of tea of everyone, common man can also earn money through it. Customer wants to invest their money, but they are confused whether to invest or not. They don’t have full knowledge about the stock market.
Customer can buy and sell securities on the stock exchanges, through online automated order processing system provided by the company. Customer can log on at any time, during or after trade hour and place an order. The online investment option of ICICI Direct is safest way to the investor to invest in Mutual Fund, IPO, Bonds and Postal Saving.
Mostly small investors are not satisfied with the brokerage rates of the ICICI direct.com. Many customers are now attracting towards the other investment like commodity market.
Organization has to concentrate on separate office and other infrastructural facilities. Organization has to make more advertisement through pamphlet distribution in local newspaper and TV advertisement through the local channel Organization has to organize such session on stock market update, which helps to increase customer awareness about stock market.

ANNEXURE
QUESTIONNAIRE FOR DEMAT A/C HOLDERS

Personal Details:
Name __________________________________________________
Contact No.______________________________________________
Email Id. ________________________________________________
Occupation_______________________________________________
1. Private employee [ ] 2. Govt. employee [ ]
3. Business men [ ] 4. Others [ ]

1. How do you come to know about ICICI direct.com?
a) Friends [ ] b) Relatives [ ]
c) Agents [ ] d) Paper Advertisement [ ]
2. From how many months you are trading with ICICI Direct.com.
a) 1 – 3 [ ] b) 3 – 6 [ ]
c) 6 – 9 [ ] d) 9 – 12 [ ]
3. How do you trade in ICICIDirect.com?
a) On line trading [ ] b) CallNTrade [ ]
4. Which Service given by the ICICI direct.com is most attracted by you?
a) Fund Transfers Mechanism [ ]
b) Brokerage rates [ ]
c) Safety and Security [ ]
d) On line trading [ ]
5. Which Product do you prefer to invest in ICICI Direct.com?
a) Equities [ ]
b) IPO’S [ ]
c) Mutual Funds [ ]
d) Others (Postal Savings, Insurance, Commodities, etc.) [ ]
6. Which Trading facility do you prefer frequently while trading on ICICI Direct.com?
a) Delivery Trading [ ] b) Day Trading [ ]
c) Margin Plus [ ] d) BTST [ ]
e) Cash on Spot [ ]
7. Are you interested in Commodity Market?
a) Yes [ ] b) No [ ]
8. Do you need training?
a) Equity Market Yes [ ] No [ ]
b) Derivative Market Yes [ ] No [ ]
c) Mutual Fund Yes [ ] No [ ]
d) Commodity Market Yes [ ] No [ ]
e) IPO Yes [ ] No [ ]
f) Other’s (Postal Savings, Insurance) Yes [ ] No [ ]
9. Do you want transact – in – statement, Demat statement, Contract Notes Physically?
a) Yes [ ] b) No [ ]
10. What is your Opinion about the Services given by ICICI securities Ltd.?
a) Excellent [ ] b) Very Good [ ]
c) Good [ ] d) Fair [ ]
11. Any Suggestions regarding Services…….
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BIBLIOGRAPHY

1. Philip Kotler-7th edition “MARKETING MANAGEMENT”
2. Ramesh Babu- “INDIAN FINANCIAL SYSTEM”
3. ICICI direct.com- website of the company
4. www.google.co.in