Rajat Mavi

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STUDY ABROAD PROGRAMME PROJECT ON “CONSUMER BUYING BEHAVIOR OF INDIAN & UK BANK” Submitted in partial fulfillment for the requirement of the award of degree in Bachelor of Business Administration SUBMITTED BY: SUBMITTED TO: RAJAT MAVI DR. PETER TAYLOR

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Submitted in partial fulfillment for the requirement of the award of degree in Bachelor of Business Administration



A project is never the sole product of a person whose name has appeared on the cover. Even the best effort may not prove successful without proper guidance. For a good project one needs proper time, energy, efforts, patience, and knowledge. But without any guidance it remains unsuccessful. I have done this project with the best of my ability and hope that it will serve its purpose.

It was really a great learning experience and I am really thankful to DR PETER TAYLOR, who not only helped me in the successful completion of this report but also spread his precious and valuable time in expanding my knowledge base.

After the completion of this Project I feel myself as a well aware person about the Research Procedure and the complexities that can arose during the process. Also I get an insight of the advertising industry and its effectiveness in promoting sales. Finally, I am also grateful to all those personalities who have helped me directly or indirectly in bringing up this project report.













ICICI Bank is India's second-largest bank with total assets of about Rs. 2,513.89billion (US$ 56.3 billion) at March 31, 2006 and profit after tax of Rs. 25.40 billion (US$ 569 million) for the year ended March 31, 2006 (Rs. 20.05 billion (US$ 449 million) for the year ended March 31, 2005). ICICI Bank has a network of about 614 branches and extension counters and over 2,200 ATMs. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI Bank set up its international banking group in fiscal 2002 to cater to the cross border needs of clients and leverage on its domestic banking strengths to offer products internationally. ICICI Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in Singapore, Bahrain, Hong Kong, Sri Lanka and Dubai International Finance Centre and representative offices in the United States, United Arab Emirates, China, South Africa and Bangladesh. Our UK subsidiary has established a branch in Belgium. ICICI Bank is the most valuable bank in India in terms of market capitalization. ICICI Bank's equity shares are listed in India on the Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). ICICI Bank has formulated a Code of Business Conduct and Ethics for its directors and employees.

At June 5, 2006, ICICI Bank, with free float market capitalization* of about Rs. 480.00 billion (US$ 10.8 billion) ranked third amongst all the companies listed on the Indian stock exchanges.ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly owned subsidiary. ICICI shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of Matura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses. In the 1990s, ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services group offering a wide variety of products and services, both directly and through a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE. After consideration of various corporate structuring alternatives in the context of the emerging competitive scenario in the Indian banking industry, and the move towards universal banking, the managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI Bank would be the optimal strategic alternative for both entities, and would create the optimal legal structure for the ICICI group's universal banking strategy. The merger would enhance value for ICICI shareholders through the merged entity's access to low-cost deposits, greater opportunities for earning fee-based income and the ability to participate in the payments system and provide transaction-banking services. The merger would enhance value for ICICI Bank shareholders through a large capital base and scale of operations, seamless access to ICICI strong corporate relationships built up over five decades, entry into new business segments, higher market share in various business segments, particularly fee-based services, and access to the vast talent pool of ICICI and its subsidiaries. In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at Ahmedabad in March 2002, and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002.Consequent to the merger, the ICICI group's financing and banking operations, both wholesale and retail, have been integrated in a single entity. Free float holding excludes all promoter holdings, strategic investments and cross holdings among public sector entities.

ICICI Bank (formerly Industrial Credit and Investment Corporation of India)It is Indias largest private bank. ICICI Bank has total assets of about Rs.20.05billion (end-Mar 2005), a network of over 550 branches and offices, and about 1900 ATMs. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI Bank's equity shares are \listed in India on stock exchanges at Kolkata and Vadodra, the Stock Exchange, Mumbai and the Natinal Stock Exchange Of India and its ADRs are listed on the Newyork Stock Exchange (NYSE). During the year, 2005 ICICI bank was involved as a defendant in cases of alleged criminal practices in its debt collection operations and alleged fraudulent tactics to sell its products.

HistoryThe World Bank, the Government of India and representatives of Indian industry form ICICI Limited as a development finance institution to provide medium-term and long-term project financing to Indian businesses in 1955. 1994 ICICI establishes ICICI Bank as a subsidiary. 1999 ICICI becomes the first Indian company and the first bank or financial institution from non-Japan Asia to list on the NYSE. 2001 ICICI acquired Bank of Madura (est. 1943). Bank of Madura was a Chettiar bank, and had acquired Chettinad Mercantile Bank (est. 1933) and Illanji Bank (established 1904) in the 1960s. 2002 The Boards of Directors of ICICI and ICICI Bank approve the merger of ICICI, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. After receiving all necessary regulatory approvals, ICICI integrates the group's financing and banking operations, both wholesale and retail, into a single.

EXTERNAL LINKSICICI Bank Bank Online ICICI Money2India Remittance to India ICICI Direct Online share and mutual funds trading facility ICICI Prulife Life Insurance - India is no one Private Life insurance company Prudential ICICI Mutual Fund Asset Management ICICI Lombard.com India is no one Private general insurance company Customer Experiences Mouth shut Reviews ICICI Bank Blog ICICI Bank Unofficial blog for investors. ICICI Bank Problems ICICI Bank - A bad experience for many Anywhere banking from ICICI bank Current and Savings Accounts in ICICI bank


Barclays PLC is a major global financial services provider operating in Europe, the United States, the Middle East, Latin America, Australia, Asia and Africa. It is a holding company that is listed in London, New York and Tokyo. It operates through its subsidiary Barclays Bank PLC. It is also the current sponsor of the English Premier League.Barclays PLC is the 18th largest company in the world according to Forbes Global 2000 rankings (2007 list). Barclays PLC is the 4th largest financial services provider in the world by Tier 1 capital ($32.5 billion), and among the 10 largest banks in the industry by market capitalization ($94.79 billion). It is the third largest bank in the United Kingdom based on market capitalization.The bank's headquarters are at One Churchill Place in Canary Wharf, in London's Docklands, having moved there in May 2005 from Lombard Street in the City of London.

This bank traces its roots back to 1690 in London. The name "Barclays" became associated with the business in 1736, when James Barclay, son-in-law of one of the founders became a partner in the business. In 1728, the bank moved to 54 Lombard Street, which was identified by the 'Sign of the Black Spread Eagle', over the years becoming a core part of the bank's identity.

THE BARCLAYS STORYThis bank traces its roots back to 1690 in London. The name "Barclays" became associated with the business in 1736, when James Barclay, son-in-law of one of the founders became a partner in the business. In 1728, the bank moved to 54 Lombard Street, which was identified by the 'Sign of the Black Spread Eagle', over the years becoming a core part of the bank's identity.

HISTORY1896: The company joins with 19 other private banking businesses to form a new joint-stock bank called Barclay and Company Limited. This had 182 branches and substantial deposits of 26million. The partners were connected by a web of family and religious links, and the bank was often referred to as the Quaker Bank.1918: The bank amalgamates with the London, Provincial and South Western Bank to become one of the UKs big five banks. By 1926 the bank has 1,837 outlets.1961: Barclays opens Britains first computer centre for banking in Drummond Street, London. 1966: Barclays launches Barclaycard, the UKs first credit card. 1967: Barclays unveils the worlds first cash machine, offering Barclay cash from its Enfield branch. 1972: Barclaycard is the first UK credit card to use TV advertising.

IN THE MODERN TIMES1977: Barclays is the first UK bank to introduce Personal Bankers in its UK branches. 1981: Barclays becomes the first foreign bank to file with the US Securities and Exchange Commission and raise long-term capital on the New York market. 1985: Barclays UK and International are merged to form Barclays PLC. 1986: Barclays becomes the first British bank to have its shares listed on the Tokyo and New York stock exchanges. The banks global expansion is given added impetus by the creation of BZW. This evolved to become Barclays Capital, the investment banking division of the bank, managing larger corporate and institutional business. 1994: Innovations continue. In this year the telephone banking service Barclaycall is introduced. 1995: Barclays purchases the fund manager Wells Fargo Nikko Investment Advisers. The business is integrated with BZW Investment Management to form Barclays Global Investors. 1997: Online banking begins at Barclays. Customized services are also developing fast with the introduction of Barclays Private Bank and Premier Banking. 2000: Barclays takes over the Woolwich, a leading mortgage bank and former building society founded in 1847. 2003: Barclays acquires Banco Zaragozano, one of Spain's largest private sector banking groups, which was founded in 1910. 2005: Barclays Head Office moves to the iconic Canary Wharf building in Londons regenerated Docklands. Barclays also acquires a majority stake in ABSA Group Ltd, South Africas largest retail bank with more than eight million customers. 2006: A benchmark year when 50 per cent of Barclays profits are made outside the UK. 2008: Barclays buys the credit card brand Goldfish for $70 million gaining 1.7 million customers, and $3.9 billion in receivables 2008: Barclays buys a controlling stake in Russian retail bank Expobank for $745 million.

BARCLAYS GROUP STRATEGY OVERVIEW The ambition of the bank is to become one of the hand-full of universal banks leading the global financial services industry. This means offering a full range of retail and wholesale services to customers and clients throughout the world. These services include: retail, business and private banking, credit cards, investment banking, investment management and wealth management. They follow a simple premise: anticipate the needs of our customers and clients, then serve them by helping them achieve their goals. It is based on the principle of earn, invest and grow. The bank knows that their owners expect good short term profit performance. But they also know that the owners want them to invest for the future. In 2006, they invested 2bn capital back into the business. Barclays have a clear view of the sources of growth in the financial services industry over the next decade and will continue to align ourselves in terms of capability and geographic footprint to capture the opportunities presented by these trends. These drivers of change include: The privatization of welfare - as welfare provision becomes an unaffordable burden on governments, so citizens all around the world need to take charge of self-provision. Wealth generation and wealth transfer our research shows the number of people with a disposable wealth of over US$1m in the G7 countries will double over the next decade. The explosive growth in demand for banking products in emerging markets. The securitizations of assets and cash flows - as those who seek to finance their activities increasingly have recourse to the capital markets. The use of derivatives in risk management - more and more companies (and not just large companies or multi-nationals) will use derivatives to help manage their risk. The growing global demand for credit cards. The pressure on capital markets and private equity to fund infrastructure projects around


Our main objective of the study was to find out the Consumer Buying Behavior of the Company coming in to Current market. I had made some extensive objectives for my study which are as listed below.

1. To determine the current status of benefits to the customers of ICICI BANK & BARCLEYS BANK in Credit Card Sector.2. To find out the customers response towards ICICI BANK & BARCLEYS BANK.3. To study the satisfaction level of the customers in different attributes of Credit Card.4. To find out the profits & Facilities between Indian (ICICI BANK) and UK Bank (Barcleys Bank)


(BARCLAYS BANK)STRENGTH: Brand recognition. Brand Standardized products. Capable of surviving in Long run. Products are familiar to consumer. Good efforts for Research & Development facilities. Result oriented products. Financially sound. Good Diversified Management.


Presence of lower priced products makes market weaker in some areas. Country wise same strategy. No endorser of brand.


The markets of rural areas are somewhat remains potentially untouched. Now the diversified strategies should be adopted, as it has been long in adhesives. No established competitor is the potential advantage. The niche of the market is the rural area and the plenty of opportunities are lying there.


Due to the presence of the low priced firms the competition is proving to be tougher. Aggressive advertising and promotional efforts of competitors are making a shift in the market share of the company.


Promotional activities-This is one of the primary things that are required within the company. During my visits to different Company, I came across that there is no awareness of the company in the form of posters, stands and other related things. One thing that I would like to recommend would be the introduction of more promotional activities so as to generate more revenues for the company. Company can introduce more-- Schemes Get together for channel partners Brand recognition in the market To Keep more inventories Advertisement in Industrial Area

Focus more on b and c category Companies - This is also one of the prime things that are required. With around 80% of the revenues coming from less than 20% of the Companies, more focus should be given on b and c category companies. A category agents are said to be the agents who contribute more than Rs.50000 of revenues per month. Companies should focus more on b and c category clients so that more of these clients can be converted into a category.

Co-ordination among different channels-With agency office in a different building and no direct control over the district operations, transparency between different channels is lacking. With the plan for executives that I have suggested above, there could be more transparency that can come in the overall operations of the UK region.

Different commission slabs for different channels- With commissions being one of the prime motives for the sales Executive to do business with different companies, more and more emphasis should be given on the commissions that are rendered to the agents.

Very limited corporate tie ups-This should be one of the most important thing that should be on the agenda for the travel category. A corporate tie-up can easily deliver a business of more than 50000 per month. Other than that, the contract is on a long term basis. This therefore helps in getting an easy business for the company. Therefore, from my point of view, more emphasis should be given on this category of business as well.


Although every effort has been in to collect the relevant information through the sources available, still some relevant information could not be gathered.

Busy Schedule of Concerned Executives: The concerned executives were having very busy schedule because of which they were reluctant to give appointment.

Time: The time duration could not provide ample opportunity to study every detail of the company.

Unawareness: Executives were unaware of many terms related to same while asking to them.

Confidential Information: As the company on account of confidential report has not disclosed some figures. Moreover, in some cases separate accounts of division are not separately maintained thereby, leading to restrictions in study.


To conclude, the results show that the companies are playing on the peripheral cues to maintain their Total Relationship Management and connect to the customers both present and potential. The Banks are operating in a highly aggressive and competitive global market place and this climate has led to the emphasis on quality in all aspects. TQM focuses on integration and coordination as well as the continuous improvement of all activities and processes. Total Relationship Management (TRM) is a very recent marketing strategy and philosophy. It focuses on and is concerned with all integrated internal and external activities within and between the organizations. These two terms are integrated by the manufacturers by building good quality products and building good relationship with dealers and enhancing service levels.

However, when studied from the point of view of a customer there seems to be no major difference among the BARCLAYS brand in a segment as far as performance is concerned. The brand perception is dependant mostly on the Credit Card cues depending upon the nature and service of the provided facilities along with the pricing, maintenance, availability of cards and related issues. It seems so! It seems as an undercurrent sentiment is flowing and the perception of the customers is changing according to it. So this might be the reason that despite Verna faring so high on the performance parameters still lags on the account of converted sales.

The study shows that brand perception is something which starts building up before a BARCLAYS CREDIT CARD is purchased and goes on with its use and is reflected in the recommendations the customer makes to his acquaintances for the same products. So brand image and brand personality complement each other and the brand perception aids the building of brand image.

Bankers, as per the study findings, play a very important role in building up the brand perception of the BARCLAYS products. Since bank employees are the connecting link between the customers and the manufacturers thus becoming the most important link in joining the company to its customers as he is the person who will sell the product, will deliver it and will keep on providing the after sales services to the customers as and when required.

So, it becomes necessary automatically to study Bank Employees as a part of customers satisfaction journey with the product called credit card range! Their proximity to the customers, the service provided by them and the relationship maintained by them with the customers helps the BARCLAYS AND ICICI BANK to establish and reinstate the brand personality communicated by them to the customers.




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