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A Study on customerssatisfaction level about foreign
exchange services of ThomasCook (I) Ltd.
Studied By Mohammad Shaban Khan
(Roll No. 16090)PGDM
SIVA SIVANI INSTITUTE OF MANAGEMENTKOMPALLY, SECUNDERABAD-14
2007-09
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CONTENTSChapters Page
no:I INTRODUCTION 51.1 Meaning of Foreign Exchange 61.2 Scope of the Study 81.3 Significance of the Study 81.4 Need for the Study 91.5 Objective of the Study 91.6 Scheme of the Study 10
II ORGANIZATION PROFILE2.1 Industry Profile 62.2 Company Profile (Thomas Cook India Limited) 112.3 Departmental Details 11
III DESIGN OF THE STUDY 153.1 Research Design 153.2 Study Area3.3 Sampling3.4 Method & Tools of Data Collection3.5 Data Processing & Analysis3.6 Duration of the study 3.7 Limitations of the study
IV DATA ANALYSIS 174.1 Analysis of the Data, Interpretation
V FINDINGS 26
VI RECOMMENDATIONS & CONCLUSION 28 Annexure
Bibliography
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DECLARATION
I hereby declare that this project report titled A study of Customerssatisfaction level about Foreign exchange services of TCIL is an original work
done in Thomas Cook (India) Ltd under the guidance of Mr. Siva Kumar Thampi
(Sr.Mgr. TCIL) and Ms. P.Sharvari Srinivas (Manager-Foreign exchange.TCIL)
submitted by me for the partial fulfillment of the requirements for the award of my Post
Graduate Diploma in Business Administration,
Date:
Place: Secunderabad Signature
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ACKNOWLEDGEMENT
It give s me immense pleasure to place on records my profound gratitude and
sincere appreciation to each and every person who has helped me in this endeavor.
I am ineffably indebted to Mr. Siva Kumar Thampi, Ms. P.Sharvari Srinivas for
conscientious guidance and encouragement to accomplish this assignment. I would also
like to thank Mr. B.R. Ganesh,Mr, Narendar.k & Other Staff Member of the Company
who helped me.
Any omission in this brief acknowledgement does not mean lack of gratitude.
Date:
Place: Secunderabad Signature
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Chapter 1Introduction
In this era of globalization ,people/company are migrating and operating
from one country to another. But the value of currency of one country differes
from another. So the people face various problems to transact from owned localcurrency in to the international market. So a service marketer wanted to make it
convenient when the transaction is done between different value of currency.
This study has been undertaken to analyze wether the customers who
deals with TCIL for foreign exchange services in this twin cities are satisfied
with the services provided by the TCIL or not. In todays market there are many
foreign exchange service providers,but every customer has some preferance to
choose a particular foreign exchange service provider, and the customer whohas used TCIL service atleat once will only use the TCIL services again when he
is satisfied with the services provided by the TCIL; because if performance falls
short of expecations the customer is dissappointed and if it meets the
expectations the customer is satisfied. A satisfied customer is a repeat buyer
and if the customer is satisfied they also says good things about the product or
services to the others.
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Meaning of Foreign Exchange:-
The foreign exchange market exists wherever one currency is traded for
another
The foreign exchange market is an over the counter market in which
currencies of different countries are bought and sold against each other. Foreign
Exchange is nothing but claims of the residents of a country to foreign currencypayable abroad. It is a method of converting one country's currency into another.
So long as there is a cross border flow of funds, the need for such
conversion/exchange continues to arise;for example if you are living in India and
want to buy electronic goods from Japan , either you or the company that you
buy the electronic goods from has to pay them in Yen. This means that the Indian
importer would have to exchange the equivalent value of Indian Rupee (INR) into
Yen. The same goes for traveling. An Indian tourist in China can't pay in INR to
see the Great wall of China because it's not the locally accepted currency. As
such, the tourist has to exchange the INR for the local currency.
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Features of Forex Market:-
One unique aspect of this international market is that there is no centralmarketplace for currency exchange. Rather, trade is conducted
electronically over-the-counter (OTC), which means that all transactions
occur via computer networks between traders around the world, rather
than on one centralized exchange.
The market is open 24 hours a day, five and a half days a week.
Currencies are traded worldwide in the major financial centers of London,
New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and
Sydney - across almost every time zone. This means that when the
trading day in the U.S. ends, the forex market begins anew in Tokyo and
Hong Kong. As such, the forex market can be extremely active any time
of the day, with price quotes changing constantly .
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Scope of the Study
In this era it is very imperative to know about the customers satisfaction
about a particular product or services in order to improve the quality of product or services. So that business can sustain in the market. With their money
consumers elect the retailers, and if they are not satisfied by the service of one
company they will surely go and use the same service provided by the other
company where they are satisfied. So ultimately, Consumers determine which
companies will survive in the market, and which will go out of business.
So as it was stated above to study the customers satisfaction level is veryimportant and the scope of the study is very vast.
Significance of the Study
Only customers can determine the fate of the company; that means only
customers determine which organizations will survive and which one will fail.
After knowing the customers satifaction level; the company can know with
which services the customers are most satisfied and which services need
improvement
Thomas cook (India) Ltd provides foreign exchange services for the retail
as well as whole sale customers. Since Thomas cook (India) ltd is the only non
bank authorized dealer of foreign exchange and it is a big player in this field so in
order to improve the quality of services & to gain competitive advantage, this
study has been undertaken.
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Need for the Study: - .
A foreign exchange market exist wherever one currency is traded for another. Thomas Cook(I) Ltd is the only non Bank authorized dealer of foreign
exchange.Thomas Cooks AD license permits undertaking of current account
transaction both retail foreign exchange and wholesale foreign exchange.
Since TCIL is a big player in foreign exchange services, which have lots
of customers and these Customers play a vital role in the increase of sales and in
getting profits to the company. As competition in foreign exchange market is growing up
day by day, every company needs to concentrate on each and every aspect of itsactivities. Customers should be satisfied with the foreign exchange rates,service quality,
place where it is located, etc.So every company needs to know the satisfaction level of
its customers; and try to reach expectations of the customers.
Objectives of the Study:-
To find out the level of customers satisfaction with various foreign
exchange services provided by Thomas cook India ltd.
To know the customers satisfaction towards Thomas cok staff. To know the customers satisfaction towards the service process of
Thomas cook.
To suggest if necessary measures for improving customer
satisfaction on the basis of the findings of the study.
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Scheme of the Study:-
This whole project report has been divided in to six chapters. In first
chapter introduction part has been given. That consists of meaning of foreign exchange, Scope, significance and need for the study.
In second chapter, Industry profile and company profile has been included
in brief. Third chapter consists of design of the study. In this whole research
design has been included. Forth chapter consists of Data analysis and
interpretations part by the help of graph and pie chart. Before every graph
the question has been given so that the graph result can be understoodeasily.
In sixth chapter all findings have been given. In the last chapter
Recommendations and conclusions part has been given.
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Chapter 2
Industry Profile
Market Participants
Unlike the equity market - where investors often only trade with
institutional investors (such as mutual funds) or other individual investors -
there are additional participants that trade on the forex market for entirelydifferent reasons than those on the equity market. Therefore, it is important
to identify and understand the functions and motivations of the main
players of the forex market.
Governments and Central Banks
Arguably, some of the most influential participants involved with currencyexchange are the central banks and federal governments. In most countries, the
central bank is an extension of the government and conducts its policy in tandem
with the government. However, some governments feel that a more independent
central bank would be more effective in balancing the goals of curbing inflation
and keeping interest rates low, which tends to increase economic growth.
Regardless of the degree of independence that a central bank possesses,
government representatives typically shave regular consultations with central
bank representatives to discuss monetary policy. Thus, central banks and
governments are usually on the same page when it comes to monetary policy.
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Central banks are often involved in manipulating reserve volumes in order
to meet certain economic goals. For example, ever since pegging its currency
(the Yuan) to the U.S. dollar, China has been buying up millions of dollars worth
of U.S. treasury bills in order to keep the Yuan at its target exchange rate.Central banks use the foreign exchange market to adjust their reserve volumes.
With extremely deep pockets, they yield significant influence on the currency
markets.
Banks and Other Financial Institutions
In addition to central banks and governments, some of the largest
participants involved with forex transactions are banks. Most individuals who
need foreign currency for small-scale transactions deal with neighborhood banks.
However, individual transactions pale in comparison to the volumes that are
traded in the inter bank market.
The interbank market is the market through which large banks transact
with each other and determine the currency price that individual traders see ontheir trading platforms. These banks transact with each other on electronic
brokering systems that are based upon credit. Only banks that have credit
relationships with each other can engage in transactions. The larger the bank,
the more credit relationships it has and the better the pricing it can access for its
customers. The smaller the bank, the less credit relationships it has and the
lower the priority it has on the pricing scale.
Banks, in general, act as dealers in the sense that they are willing to
buy/sell a currency at the bid/ask price. One way that banks make money on the
forex market is by exchanging currency at a premium to the price they paid to
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obtain it. Since the forex market is a decentralized market, it is common to see
different banks with slightly different exchange rates for the same currency.
Hedgers
Some of the biggest clients of these banks are businesses that deal with
international transactions. Whether a business is selling to an international client
or buying from an international supplier, it will need to deal with the volatility of
fluctuating currencies. If there is one thing that management (and shareholders)
detests, it is uncertainty. Having to deal with foreign-exchange risk is a big
problem for many multinationals. For example, suppose that a German companyorders some equipment from a Japanese manufacturer to be paid in yen one
year from now. Since the exchange rate can fluctuate wildly over an entire year,
the German company has no way of knowing whether it will end up paying more
Euros at the time of delivery.
One choice that a business can make to reduce the uncertainty of foreign-
exchange risk is to go into the spot market and make an immediate transactionfor the foreign currency that they need. Unfortunately, businesses may not have
enough cash on hand to make spot transactions or may not want to hold massive
amounts of foreign currency for long periods of time. Therefore, businesses quite
frequently employ hedging strategies in order to lock in a specific exchange rate
for the future or to remove all sources of exchange-rate risk for that transaction.
For example, if a European company wants to import steel from the U.S., it would
have to pay in U.S. dollars. If the price of the euro falls against the dollar before
payment is made, the European company will realize a financial loss. As such, it
could enter into a contract that locked in the current exchange rate to eliminate
the risk of dealing in U.S. dollars. These contracts could be either forwards or
futures contracts.
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Company Profile
Thomas cook is the first largest travel group in India ,second largest travel
group in Europe & third largest travel group in the world. The presence of Thomas cook is world wide. It employs on an average of 33,000 staffs worldwide. Thomas Cook has 97 owned & leased air crafts.
Thomas Cook (India) Ltd. is the largest Travel and Financial Services
Company in the country offering a broad spectrum of travel-related services that
include Foreign Exchange, Corporate Travel, Leisure Travel, and Insurance. The
Company launched its Indian operations in 1881 and is celebrating its 125 yearsof world-class service in India.
Thomas Cook (India) Ltd. presently operates in over 55 cities across
almost 200 locations in the country. The company has overseas operations in 12
countries across the g lobe. It employs more than 3000 employees
Departmental Profile:-
Different Services Provided By Thomas Cook
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Leisure Travel
The leisure travel division of the Company promotes domestic inbound/
outbound holidays. It operates over 40 Group Inclusive Tours (GIT) to leading
destinations in all 5 continents and also promotes Free Individual Travel (FIT) to
over 50 countries around the globe.
Thomas Cook India Ltd recently launched a premium holidays brand -
100% Holidays . The new brand would offer international group holidays
segment as well as for the customized individual holidays products. With 100%
Holidays Thomas Cook India will strengthen its position in the outbound leisure
travel business; the new brand will operate as a product brand under the
corporate Thomas Cook India brand
Corporate Travel Management
Thomas Cook (India) effectively "manages" the travel budgets of several
large national and multinational companies. Handling higher volumes results in
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effectively being able to negotiate preferential rates with principals, consequently
leading to meaningful savings for the Company's corporate clients. For
personalized service at corporate doorsteps, Thomas Cook sets up 'On-sites',
which are CRS-linked and offers comprehensive end to end travel solutions
SWIFT Network
Money Gram money transfer service for quick money transfers to India
from anywhere in the world. It is also the largest player in the bulk foreign
exchange business handling bulk currency volumes for the countries leading
banks and moneychangers.Travel Insurance
It is the only Travel Company in India, to have registered license to sell
insurance and to offer its own co - branded travel insurance products Viz. Travel
Care, Scholar Care, Family Care and Corporate Care which are exclusively
designed for different customer segments like, Leisure Traveler, Students,
Family, Corporate & Frequent Flyers All these products are underwritten byTATA AIG General Insurance Co Ltd.
Foreign Exchange
Thomas Cook (India) Ltd is a leading foreign exchange provider and offers
a wide range of innovative products and services. These include Global Money
Card, a pin protected pre-paid card which enables travelers to withdraw local
currency from more than 1 million VISA ATMS and use the card for goods and
services at over 22 million VISA Merchant Establishments; Wire transfers of
funds worldwide.
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TCIL has Foreign Exchange Counters at the international airports of
Mumbai, New Delhi, Kolkata, Chennai, Cochin and Trivandrum, open 24 hours
and 365 days a year to cater to the needs of the international and domestic
traveler. TCIL also has a round-the clock Foreign Exchange counter at the NewDelhi Railway Station .
Vision
To become the No.1 company in all core businesses, through Customer
Focus and Team Work.
Mission
Exceptional Service from exceptional people
Service Strategy
To deliver exceptional service to all internal and external customers
By Being By Providing By Ensuring
Proactive Professional Service Personal Care Speedy
Flexible
Transparent
Reliable
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Creative
Chapter 3DESIGN OF THE STUDY
Research Design :
A descriptive-analytic research design is adopted in this study.
Study Area:
This study is carried out in twin cities Hyderabad & Secunderabad with a
special reference to Thomas Cook (India) Ltd., Foreign exchange branch at
Saifabad, Hyderabad.
Sampling Techniques :
Sampling Type: Convenient random sampling is used to select the
sample. Sample Size: from the customers of Twin Cities (Hyderabad &
Secunderabad).
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Method and Tool of Data Collection:
Primary Source : Questionnaire was filled, by face-to-face interview methods
and also by using telephonic.
Secondary Source: Websites.
Data Processing and Analysis:
Data are process with the help of Ms excel using pie charts and bar
graphs.
Duration of the Study:
This study was done between 8 th April 2008 to 8 th June 2008.
Limitations of the Study:
The respondents may not disclose the right information.
The respondents may give the pleasing answer to me eventhrough it is not correct form their prespective.
Some respondents may give me the vague answers to the
questions.
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Chapter 4ANALYSIS OF THE DATA & Interpretation
1. The following table shows the frequency of customersvisiting
Thomas cook gender-wise.
Table 1
Gender FrequencyMale 72
Female 28
Total 100
Source: - Data collected from the questionnaire.
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GENDER
72%
28%
Male
Female
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INFERENCE:
72% are the male respondents using the Thomas cook forex service 28% are the female respondents using theThomas cook forex service.
2. The following table shows the foreign exchangetransactions. Transaction FrequencyBuying 69Selling 31
Total 100
Source: - Data collected from the questionnaire.
INFERENCE:
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Foreign exchange transaction
69%
31%
buying
selling
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69% of the respondents visits the Thomas cook to buy theforeign exchange and 31% of the respondents visits theThomas cook to sell the foreign exchange.
3. The following table shows the foreign exchange servicecustomer wants. Foreign exchange service FrequencyForeign currency 70Wire transfer 5Foreign currency demand draft 11
Travellers cheque 14 Total 100
Source: - Data collected from the questionnaire.
INFERENCE:
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Foreign exchange serv ice customer want
70%
5%
11%
14%
foreign currency
wire transfer of money
foreign currencydemand draft
traveller's cheque
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70% of the respondents visits the Thomas cook to buy theforeign currency, 5% of the respondents visits theThomas cook to transact the money through wire transfer,
11% of the respondents visits the Thomas cook for makingforeign currencydemand draft and 14% of the respondentsvisits Thomas cook for travellers cheque.
4. The following table shows the customers satisfactionlevel with the foreign exchange rates.
Foreign exchange rates FrequencyHighly satisfied 12Satisfied 38Moderately satisfied 29Dissatisfied 13Highly dissatisfied 8
Total 100
Source: - Data collected from the questionnaire.
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Foreign exchange rates
12%
38%
29%
13%8%
highly satisfied
satisfied
moderately satisfied
dissatisfied
highly dissatisfied
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INFERENCE:
12% of the respondents are highly satisfied with theforeign exchange rates provided by the Thomas cook, 38%
of the respondents are satisfied, 29% of the respondentsare moderately satisfied, 13% of the respondents aredissatisfied and only 8% of the respondents are highlydidatisfied with the foreign exchange rates provided byThomas cook.
5. The following table shows the customers satisfaction
level with the accessibility of the branch visited.
Accessibility of the branchvisited
Frequency
Highly satisfied 19Satisfied 28Moderately satisfied 41Dissatisfied 3Highly dissatisfied 9
Total 100Source: - Data collected from the questionnaire.
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Accessibility of the branch visited
19%
28%41%
3% 9%
highly satisfied
satisfied
moderately satisfied
dissatisfied
higly dissatisfied
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INFERENCE:
19% of the respondents are highly satisfied with the
accessibility of the branch visited,28% of the respondentsare satisfied, 41% of the respondents are moderatelysatisfied, 3% of the respondents are dissatisfied and 9% of the respondents are highly didsatisfied with theaccessibility of the branch visited.
6. The following table shows the customers satisfactionlevel with the signages to identify the branch.
Signages FrequencyHighly satisfied 16Satisfied 22Moderately satisfied 51Dissatisfied 5Highly dissatisfied 6
Total 100
Source: - Data collected from the questionnaire.
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Signages to identify the branch
16%
22%
51%
5% 6%
highly satisfied
satisfied
moderately satisfied
dissatisfiedhigly dissatisfied
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INFERENCE:
16% of the respondents are highly satisfied with thesignages to identify the branch, 22% of the respondents
are satisfied, 51% of the respondents are moderatelysatisfied, 5% of the respondents are dissatisfied and only6% of the respondents are highly dissatisfied with thesignages to identify the branch.
7. The following table shows the customers satisfactionlevel with the staff greeting and friendly welcome.
Staff greeting FrequencyHighly satisfied 48Satisfied 32Moderately satisfied 12Dissatisfied 8Highly dissatisfied 0
Total 100
Source: - Data collected from the questionnaire.
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Staff greeting and welcome
48%
32%
12%8% 0%
highly satisfied
satisfied
moderately satisfied
dissatisfied
higly dissatisfied
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INFERENCE:
48% of the respondents are highly satisfied with the staff greeting and welcome,32% of the respondents are
satisfied, 12% of the respondents are moderatelysatisfied, 8% of the respondents are dissatisfied, and noteven the single repondent is highly dissatisfied with thestaff greeting and welcome.
8. The following table shows the customers satisfaction
with staffs understanding of their requirement.Staffs understanding of customer
requirement
Frequency
Highly satisfied 13Satisfied 25Moderately satisfied 47Dissatisfied 8Highly dissatisfied 7Total 100
Source: - Data collected from the questionnaire.
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Staff's understanding of customer requirement
13%
25%
47%
8%7%
highly satisfied
satisfied
moderately satisfied
dissatisfied
higly dissatisfied
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INFERENCE:
13% of the respondents are highly satisfied with thestaffs ability to understanding their requirement,25% of
the respondents are satisfied, 47% of the respondents aremoderately satisfied, 8% of the respondents aredissatisfied and 7% of the respondents are highlydissatisfied with the staffs ability to understanding theirrequirement.
9. The following table shows the customers satisfactionwith the staff grooming.
Staff grooming FrequencyHighly satisfied 41Satisfied 28Moderately satisfied 11Dissatisfied 20Highly dissatisfied 0
Total 100
Source: - Data collected from the questionnaire
INFERENCE:
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Staff grooming
41%
28%
11%
20%0%
highly satisfied
satisfied
moderately satisfied
dissatisfied
higly dissatisfied
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41% of the respondents are highly satisfied with thestaffs grooming ,28% of the respondents are satisfied,11% of the respondents are moderately satisfied, 20% of the respondents are dissatisfied and not even the single
respondents is highly dissatisfied with the staffsgrooming.
10. The following table shows the customers satisfactionwith the accuracy in documentation.
Accuracy in documentation FrequencyHighly satisfied 24Satisfied 32Moderately satisfied 23Dissatisfied 21Highly dissatisfied 0
Total 100Source: - Data collected from the questionnaire
INFERENCE:
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Accuracy in documentataion
24%
32%
23%
21%0%
highly satisfied
satisfied
moderately satisfied
dissatisfied
higly dissatisfied
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24% of the respondents are highly satisfied with the
accuracy in documentation,32% of the respondents are
satisfied, 23% of the respondents are moderatelysatisfied, 21% of the respondents are dissatisfied and not
even the single respondents is highly dissatisfied with the
accuracy in documentation.
11. The following table shows the customers satisfactionwith the clarification given to their queries.
Clarification for the queries FrequencyHighly satisfied 21Satisfied 33Moderately satisfied 35Dissatisfied 10Highly dissatisfied 1
Total 100
Source: - Data collected from the questionnaire
INFERENCE:
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Clarification for queries
21%
33%
35%
10% 1%
highly satisfied
satisfied
moderately satisfied
dissatisfied
higly dissatisfied
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21% of the respondents are highly satisfied with the
clarifications given to their queries,33% of the
respondents are satisfied,35% of the respondents are
moderately satisfied, 10% of the respondents aredissatisfied, and only 1% of the respondents is highly
dissatisfied with the clarification given to their queries.
12. The following table shows the customers satisfactionwith the time taken by the staff to complete there
requirement.
Time taken to complete therequirement
Frequency
Highly satisfied 27Satisfied 37Moderately satisfied 23Dissatisfied 13Highly dissatisfied 0
Total 100Source: - Data collected from the questionnaire
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Time taken
27%
37%
23%
13% 0%
highly satisfied
satisfied
moderately satisfied
dissatisfiedhigly dissatisfied
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INFERENCE:27% of the respondents are highly satisfied with the time
taken by the staff to complete their requirement, 37% of
the respondents are satisfied, 23% of the respondents aremoderately satisfied, 13% of the respondents are
dissatisfied and not even the single respondent is highly
dissatisfied with the time teken by the staff to complete
their requirement.
13. The following table shows the customers satisfactionwith the operating hours of Thomas cook.
Operating hours FrequencyHighly satisfied 32Satisfied 20Moderately satisfied 22Dissatisfied 18Highly dissatisfied 8
Total 100
Source: - Data collected from the questionnaire
INFERENCE:
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Operating hours
32%
20%22%
18%
8%
highly satisfied
satisfied
moderately satisfied
dissatisfied
higly dissatisfied
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32% of the respondents are highly satisfied with the
operating hours of Thomas cook, 20% of the respondents
are satisfied, 22% of the respondents are moderatelysatisfied, 18% of the respondents are dissatisfied, and 8%
of the respondents are highly dissatisfied with the
operating hours of Thomas cook.
14. The following table shows the customers satisfactionwith the updates given to them regarding various new
service.Updates regarding new services FrequencyHighly satisfied 10Satisfied 18Moderately satisfied 36Dissatisfied 33Highly dissatisfied 3Total 100
Source: - Data collected from the questionnaire
INFERENCE:
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Updates regarding new services
10%
18%
36%
33%
3%
highly satisfied
satisfied
moderately satisfied
dissatisfied
higly dissatisfied
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10% of the respondents are highly satisfied with the
updates given to them regarding various new services,
18% of the respondents are satisfied, 36% of the
respondents are moderately satisfied, 33% of therespondents are dissatisfied and 3% of the respondents
are higly dissatisfied with the updates given to them
regarding various new services.
Chapter 5FINDINGS
It was found that most of the customers of thomas cook are male as they
constitute 72% of the respondents.
It was found that out of 100 samples taken for the study 69% of the
customers come for buying the foreign exchange service, and only 31% of the
customers come for selling of foreign exchange service.
It was found that most of the customers come thomas cook for purchase or
selling of foreign currency, and least no: of customers come for wire transfer
of money.
It was found out that most of the customers are satisfied with the foreignexchange rates, and 8% of the customers are not at all satisfied with the
foreign exchange rates.
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It was found out that most of the customers are moderately satisfied with the
accessibility of the branch visited.
It was found that most of the customers are moderately satisfied with thesignages to identify the branch and only 16% of the customers are highly
satisfied with signages to identify the branch.
It was found that most of the customers are highly satisfied with the thomas
cooks staff greeting and friendly welcome.
It was found that most of the customer are only moderately satisfied with the
staffs ability of understanding their requirement.
It was found out that most of the customers are highly satisfied with the staff
grooming and no customer is highly dissatisfied with the staff grooming.
It was found out that most of the customers are satisfied with the accuracy in
documentation and no customer is highly dissatisfied with the documentation.
It was found out that most of the customers are moderately satisfied with the
clarifications given to their queries. and only one percent of the customers
highly dissatisfied.
It was found out that most of the customers are satisfied with the time taken to
complete their requirement.
It was found out that most of the customers are highly satisfied with the
operating hours of thomas cook.
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It was found out that most of the customers are moderately satisfied with the
updates given to them regarding various new services.
Chapter 6 RECOMMENDATIONS & CONCLUSIONS
RECOMMENDATIONS
1 st Since most of the customers choose a particular Foreign exchange
service provider on the basis of rates. So The Thomas Cook Foreign
exchange rate should be maintained with the Nationalized Bank.
After good rates second largest number of respondents choose a
particular foreign exchange service provider on the basis of Locational
convenience, So TCIL should have more number of branches in this twin
cities.
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Since it is known that customers come on the basis of Invitation from the
service provider, So TCIL should give more focus on personal selling,
advertising.
Since customers come on the basis of Polite behaviour & response time,
Therefore TCIL employees should always make it sure that the customers
are getting their services on time.
Conclusions
Although TCIL is dealing with a large segment of the market, but still TCIL
has a huge market opportunities.Thomas cook should have more branches in
twin cities.
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