Introduction

Like any other financial product, providing finance is largely dependent on how well company
plans out its marketing strategies which helps in increasing its visibility and building a distinct
brand. Looking at the intense competition, it is become very necessary for company to make
a name for themselves in consumer’s mind. So the opinion of customers play an important
role in making marketing strategies. Hence this project will provide the some facts and
figures about STFC and its customer connect initiative. It will also help to find out the type
brand image of STFC customers have in their minds.
India is emerging as a global automobile giant. In recent years this industry has made
pioneering efforts in adopting modern technology and allowing the entry of foreign players.
This is well supported by the economic conditions particularly in the financial sector and in
foreign direct investment. During the last decade, conscious efforts have been made to fine-
tune state policy to enable the Indian automobile industry realizes its potential to the fullest.
The freeing of the industry from this restrictive environment has helped it to itself to global
development.

Increasing competition as result of liberalization has led to continuous modernization as well

as international standards. Moreover, auto finance with aggressive marketing strategies has
played a bid role in boosting the automobile demand. Commercial vehicles, widely
considered being the economy’s barometer, have had a good start for the year.

ABOUT THE COMPANY

Shriram Transport Finance Company, Ltd are a part of the "SHRIRAM" conglomerate which
has significant presence in financial services viz., commercial
vehicle financing business, consumer finance, life and
general insurance, stock broking, chit funds and distribution
of financial products such as life and general insurance
products and units of mutual funds. Apart from these financial services, the group is also
present in non-financial services business such as property development, engineering
projects and information technology.

STFC was incorporated in the year 1979 and is registered as a Deposit taking NBFC with
Reserve Bank of India under section 45IA of the Reserve Bank of India Act, 1934.
Objectives of the study:-
 To know the perception of customers towards SHRIRAM TRANSPORT FINANCE
COMPANY to improve the quality of services.
 To know whether the customers are satisfied with the present services of the
company.
 Factors considered in selecting SHRIRAM TRANSPORT FINANCE COMPANY to take
finance for HCV (Truck).
 To study the behaviour of executives of SHRIRAM TRANSPORT FINANCE COMPANY
towards customers.
 To seek suggestions and opinions from customers regarding the improvement of
services.

Scope of the study:-

The study will help the company to know their awareness among the consumers, the
perception, and brand position of the company.

 The company can find out where their competitors stands in the minds of the
customers.
 The study will help the company to make proper marketing strategy for their weaker
areas.
 The study covers the customers owning HCV in Lakhimpur city.

Limitations of the study:-

Not a single work is exception to the limitations every work has got its own limitations, so
due to time constraint, my study confines only to Lakhimpur city and it is not possible to
make extensive study. It is assumed that the sample selected represents entire population.
The world is full of stimuli. A stimulus is any unit of input affecting one or more of the five
senses sight, smell, taste, touch, and hearing. The process by which we select, organize and
interpret these stimuli into a meaningful and coherent picture is called perception.

In essence, perception is how we see the world around us and how we recognize that we
need some help in making a purchase decision. People cannot perceive every stimulus in
their environment. Therefore, they use selective exposure to notice and which to ignore.

Marketers must recognize the importance of cues or signals, in customer’s perception of

products. Marketing managers first identify the important attributes, such as price or quality,
that the targeted customers want in a product and then design signals to communicate these
attributes. Customers also associate quality and reliability with certain brand names.
Companies watch their brand identity closely, in large part because a strong link has been
established between perceived brand value and customers loyalty.

Customer Perception Audits: Every time you lose a customer, there’s a reason why.
Do you really know what your customers think about your business, your offerings, or your
service? Are they having good or bad experiences? Are you equipped with the insight you
need to improve customer satisfaction and loyalty, and make the changes that matter?
Entrepreneurs are often too busy to really take the time to tap into what customers are really
thinking. But customers hold the key. They know what you need to do to dramatically
increase the value you deliver to them. Why keep this data a secret? Uncovering and
understanding it will give you what you need to be the best, generate higher sales and
referrals and earn repeat business.

Customer Perception Audits by Coach Kevin captures information on the experiences your
customers are having, analyzes the data, and provides meaningful, actionable
recommendations on short-term and long-term improvements, with the goal of closing the
gap between the service that is delivered and the service that customers expect.

Opening of economy and liberalization in trade in the country brought a sea of change in
customer’s perception of buyer and seller relationship. The customer today is not only very
demanding but also likes to know the relationship between the supplier of goods and
services and its relationship with the manufacturer or principal and its antecedents. It is on
this relationship depends the guarantee and warranty terms to which the customer is
entitled. A customer expects trouble free service during the guarantee period. Thereafter it is
expected that a product will last to its full productive life with minimum down time and the
vendor will provide the required support service to ensure the customer is not put to trouble.

For adopting Japanese management or for customer oriented management we should first
have the willingness and a determination much above the petty personal gains. It needs an
attitudinal change. Looking towards present socioeconomic and political conditions such
change is not foreseen in immediate future. Market forces will have to play the game with
only customer in mind if India has to make global presence. There is little time in hand as we
are having challenges from all sides. Small nations like Korea, Taiwan, and Singapore etc.
have already surpassed us. These nations are working on a vision and resultant plans. It is
the right time for market players to pamper the customer. As the saying goes, the four deadly
sins of corporate management-complacency, blindness, megalomania, and greed.

Remember that a customer always buys a product or service with a lot of expectations which
he has derived from the promotional inputs of the company or other sources including word-
of-mouth. So a customer would be satisfied when Performance is equal to Expectation while
would not be satisfied when Performance does not match with Expectations. Now this
expectation is what has been derived from perception. Perception is not good or bad, right or
wrong, it is just the way someone judges an experience based on their value system of what
they believe should happen. Since people are unique, each of their perceptions are unique.
On the other hand each situation is a "point of contact" with an employee that will tell the
customer a "truth" about the company's idea of customer service. Each situation will create
expectations of what the next experience will probably be like.
The present day market is flooded with a variety of Non- banking and as well as banking
financial institutions as many as if not more than companies like SHRIRAM TRANSPORT
FINANCE COMPANY, Tata Finance, Sundaram finance etc. are marketing their products.

Time has become talk of the town therefore the customers give utmost priority to those
financial institutions which gives loans at lower rate of interest, quick loans, documentation,
percentage of finance etc. which have been exerting influence on the playing decision of the
consumer.

The SHRIRAM TRANSPORT FINANCE COMPANY is the largest NBFC (Non-Banking Financial
Corporation) in the country exclusively engaged in financing for heavy commercial vehicles
(HCV) perhaps it is the only company rendering better performance from a long period of
time with the presence of all these factors. The SHRIRAM TRANSPORT FINANCE COMPANY is
making sales as hotcake.

The study on hand is directed to understand “the perception of customers towards SHRIRAM
TRANSPORT FINANCE COMPANY to improve the quality of service” are induced with the help
of various fiscal and monetary devices. For example, if the planning authority wishes to
boost the production of corn oil in Pakistan it will provide subsidies, tax holidays and loans to
the firms involved in production of corn oil. To encourage savings and investment and
discourage consumption a suitable package of fiscal and monetary policies can be introduced
in the market. Therefore, the desirable results can be attained with the help of incentives
and without the imposition of orders and instructions. Moreover, in such planning there is
less sacrifice and less loss of liberty – economic as well as non-economic.

Purpose of The Study: The main purpose of the study is to understand the perception
of customers towards SHRIRAM TRANSPORT FINANCE COMPANY which will help the
company to make proper marketing strategy to render good services and satisfy the needs of
the customers. The study will help the company to make proper strategies and emphasize on
their weaker areas.
Established in the year 1974, the Shriram Group, comprising 750 Branches and Service
Centers, in India's premier financial services chain. This company is the largest player in
Truck Financing and Chit funds in the Indian subcontinent.
The group, having an annual turnover of Rs. 6,000 crore (USD 1.3 billion), has a significant
presence in the Insurance Consultancy, Consumer Durable Finance and Stock Broking
businesses. It also have diversified investments in areas such as Information Technology,
Pharmaceuticals, Property Development, Project Engineering, Packaging and Auto
Components.
It employ over 11,000 employees across the countries that are committed to providing
excellent customer service. It also have over 75,000 agents nationwide who reach out to its
customers in even the most remote areas.
The Shriram Group's business ventures are built on providing the most efficient and
customer-focused services based on the simple principle of putting people first. This 'People
First' business philosophy has earned them unstinted customer loyalty through many
generations.

APRIL 2005:

Shriram Group attracts largest Venture Capital Investment in the Indian non-
banking financial sector, from Overseas

JULY 2004:

UTI Bank picks up equity stake in two Shriram Group companies

17 MARCH, 2003:

Shriram Investment Limited received the Mother Teresa Award for Corporate
Citizenship.

DECEMBER 2002:

Shriram Group enters into strategic alliance with Citicorp Finance and Cummins
Auto Services
31 AUGUST, 2002:

Shriram Group ties up with UTI Bank for Retail Truck Financing Scheme to offer low
cost loans for purchase of new or used trucks to transport operators.

7 MAY, 2002:

Ms. Akhila Srinivasan awarded as the "Outstanding Woman Professional" for the
year 2002

4 FEBRUARY, 2000:

Shriram Recon Trucks incorporated as India's first corporate network for selling
reconditioned used trucks.

15 DECEMBER, 1999:
Medicorp, the flagship company of Shriram group’s pharmacy division became the
first Indian company to win the Indian Drug Manufacturers Association.

27 MARCH, 1986:

Shriram City Union Finance Ltd. Incorporated for cars and two-wheelers.

12 MARCH, 1980:

Shriram Investments Ltd. Incorporated

13 JUNE, 1979:
Shriram Transport Finance Company Ltd. Incorporated
Helping create wealth, empowering people through prosperity, putting
people first.

The Shriram Group set out with the objective of reaching out to the common man with a host
of products and services that would be helpful to him in his path to prosperity. Over the
decades, the Group has achieved significant success in executing this objective and has
created a tremendous sense of loyalty amongst its customers.

Efficiency in operations, integrity and a strong focus on catering to the needs of the common
man, by offering him high quality and cost-effective products & services, are the values
driving the organization. These core values are deep-rooted within the organization and have
been strongly adhered to over the decades.

The group prides itself on its perfect understanding of the customer. Each product or service
is tailor-made to perfectly suit the needs of the customer. It is this guiding philosophy of
putting people first that has brought the Group closer to the grassroots and has made it the
preferred choice for all financing requirements amongst the customers.
Non-Banking Financial Company (NBFC) is a company registered under the Companies Act,
1956 and is engaged in the business of loans and advances, acquisition of
shares/stock/bonds/debentures/securities issued by Government or local authority or other
securities of marketable nature, leasing, hire-purchase, insurance business, chit business but
does not include any institution whose principal business is that of agriculture activity,
industrial activity, sale/purchase/construction of immovable property. A non-banking
institution which is a company and which has its principal business of receiving deposits
under any scheme or arrangement or any other manner, or lending in any manner is also a
non-banking financial company (Residuary non-banking company).

NBFCs are doing functions akin to that of banks, however there are a few differences:
1. A NBFC cannot accept demand deposits;
2. It is not a part of the payment and settlement system and as such cannot issue
cheques to its customers; and
3. Deposit insurance facility of DICGC is not available for NBFC depositors unlike in case
of banks.

Commercial Vehicle
It is the funding of products include, trucks, buses, tippers, light commercial vehicles, pick-
ups, 3 wheelers, etc.

Range of services: funding of new vehicles, refinance on used vehicles, balance transfer on
high cost loans, top up on existing loans, Extend product, working capital loans & other
banking products.
Who are eligible?
Any individual / Partnership firm / company with more than 2 years business experience.
Ownership of a vehicle is not mandatory. Funding extended to First Time User, Transporters
and Captive Consumers.

How much?
Loan amount can vary from a few thousands to crore depending upon the specific
requirement. Funding can be up to the extent of 100 % of the chassis, body funding can be
extended on special requirement & on the past experience.
Generally undertaken is Hypothecation funding. They are also taking over an old high-interest
loan and converting it into low interest loan.

Repayment:
In general repayment period is of 3 -4 years, however depending on the nature of the deal
the tenure can vary from 6 - 60 months.
The repayment schedule & the amortization schedule is sent on disbursement of the loan.

Interest?
Interest is charged on a flat rate based on the scheme applicable for the particular product.
Farm equipment loan has also a big chunk in the vehicle finance.

Who are eligible?

Agricultural Users Commercial Users

Any individual aged above 21 years at the  Any individual aged above 21 years at the
beginning of the tenure and below 65 years by
beginning of the tenure and below 65 years by
the end of the tenure; involved in agriculture for
the last 5 years. the end of the tenure; involved in business for
 Having minimum 2 acres of land with its value the last 3 years.
at least twice the loan amount.  Owns at least one tractor or commercial
 Staying in the same place for at least 3 years. vehicle.
 Having an annual income equal to the yearly  Owns either a house or an office or at least 2
installment acres of land.
 Mortgage of land of 2 to 3 times of the loan  Has a permanent phone connection either at
amount office or at home.

Loan Amount?
The loan amount varies from customer to customer depending on the valuation of the land
being mortgaged, income of the customer and tenure desired. A maximum of 100% of the
cost of the tractor, 75% of the cost of the trailer and 50% of the cost of the implements is
funded.

Documentation for Agricultural use:

1. Application form with photograph of the customer and all co applicants and/or
guarantor.
2. Performa Invoice of the asset to be funded from an authorized dealer.
3. Land records of the borrower/s.
4. Land valuation and title search report of the land.
5. Residence proof of the borrower/s.
 6. Identity proof of the borrower/s.
7. Signature verification of the borrower/s.
8. Loan agreement, duly signed by the applicants and guarantor.
9. 2 SPDCs (Security Post Dated Cheques) for entire tenure.

Documentation for Commercial use:

1) Application form with photograph of the customer and all co applicants and/or
guarantor.
2) Proforma Invoice of the asset to be funded from an authorized dealer.
3) Proof of Income (any of the following):
(a) Billing statement for the past one year
(b) Latest Income tax Return
(c) Last 6 months bank statement
4) Residence proof of the borrower/s.
5) Identity proof of the borrower/s.
6) Signature verification of the borrower/s.
7) Loan agreement, duly signed by the applicants and guarantor.
8) 2 SPDCs (Security Post Dated Cheques) for entire tenure.

Rates & Fees?

The rate of interest varies from customer to customer and depends on various factors like
land holding, loan amount, viability of the proposition and the underlying collaterals
provided.

Interest?
Interest is charged on a monthly/quarterly/half-yearly reducing balance basis as the case may
be. Every installment that is paid has a component of principal as well as interest. Interest is
charged on the principal outstanding after every installment payment.
Two wheeler finance is comparably Simple, Friendly and Quick.

Loan Schemes are available from Rs.7500/- onwards to Rs.150000/- in easy installments over
a period of 6 to 36 months.

Who are eligible?

1) Salaried Individuals
2) Self Employed Individuals
3) Pensioners, Housewives& Students
4) Partnership Entities
5) Private Limited Companies
6) Public Limited Companies

Documents:
1. Identity Proofs
2. Residence Proof
3. Income Proof
4. Post Dated Cheques
5. Copy of Credit Card
6. CC billing statement
7. Bank passbook/Statement
8. No objection Certificate.

Interest Rates?
Interest rate is charged on a monthly reducing balance.
• Recipient of the social responsiveness awards instituted by
Business world – Compaq at national level under the auspices of
FICCI, Delhi.

• Adjudged as the third prize winner for having rended

commendable service in the areas of social welfare and rural
development.

• Ms. Akhila Srinivasan receiving the social responsiveness Award

instituted by Business World – Company from the Hon’ble Vice –
President of India Krishna Kant in the year 1999.

• Recipient of outstanding woman professional for 2000 – 01 by FICCI

– FICCI Ladies organisation (FLO). The award was given by Ms.
Sheila dixit Chief Minister Delhi.

• Mother Teresa award for corporate citizenship instituted by Loyola

institute of Business Administration (LIBA) Chennai, 2002.
They have always believed in delivering financial value with a human face. As a company
firmly grounded up a middle class ethos, we take our social responsibilities very seriously.
Their corporate Social Responsibility (CSR) initiative started with the Shriram Social Welfare
Trust (SSWF) that was set up in the year 1993. SSWT is today active in the following areas.

 Orphan and destitute care

 Primary education for the rural poor
 Micro – credit financing through self- help groups for the marginalized
 Empowerment and upliftment of women in villages.

To swiftly help the poor and the needy to be self-reliant and live with dignity, not charity. The
primary focus and beneficiaries of the Trust’s activities are.

 Abandoned neglected and destitute children.

 Juvenile delinquents in need of care and protection.
 Children of poor and illiterate parents.
 Disadvantaged and marginalized section of women, particularly rural women

1. Launch of Shriram Rural Development Project (SRDP) to create and develop

2. Social and human capital among the poor.
3. Micro credit financing through self-help groups in 156 villages in Tamil Nadu, Andhra
Pradesh and Karnataka.
The trust runs four schools in rural areas at Thiruneermalai, Pallikaranai, Moovarasampet in
Tamil Nadu and in Prakash Nagar, Guntur Dist. In Andhra Pradesh. Over 2000 children
receive free education. Schools offer education up to class VII and student will progressively
move up to higher secondary level.

Future Plans:
1. To start six primary schools for the rural poor in the villages of Andhra Pradesh.
2. Government of Andhra Pradesh to hand over 3.5 acres of land to SSET in six districts.
3. Immediate Plans: to start two schools in Cudapah and Guntur districts in June 2005.

Long Term Benefits Of The Program:

1. Reduction in rural indebtedness
2. Bank/institutional credit for investment in income – generation activities.
3. Improved household food security round the year, better nutrition.
4. Improved household income.
5. Empowerment of Women.
6. Greater leverage and status of SHG members in local communities and with the state.

The Future According To Shriram:

1. To enlarge the scope of micro credit financing activity through NBFC Shriram
Investment Limited.
2. To extend activities to Bihar, Kharkand, and Eastern Uttar Pradesh.
3. To lend credit at low interest rates to 3 lakh women below poverty line in the next 3
years.
National Awards Won:
 Business World Compaq award fota Social Responsiveness instituted by FICCI from the
Hon’ble Vice – President of India Mr. Krishna Kant on 1999.
 Mother Teresa award for Corporate Citizenship instituted by Loyola Institute of
Business Administration (LIBA), Chennai in 2002.

 Shriram Truck Financing Companies. The wheels of progress.

 Largest NBFC in the country exclusively engaged in financing of heavy commercial
vehicles.
 Monopoly position in financing of used vehicles.
 All India presence with a branch network of 260 offices and employing over 4000
people.
 Growing at the rate of 30% per annum.
 Funds managed – Rs 6000 crores.
 Equity investors - Citicorp, UTI Banks, Reliance Capital and FMO Netherlands have
added tremendous value and strength.
 Venture capital firm Chris capital joins as a strategic partner by acquiring 21% equity.

We entered the Consumer Durable Finance business in early 2002 through 'Shriram City
Union Finance Ltd., the consumer finance arm of the group. Within a short span of 2 years,
we have managed a portfolio of over Rs.584 crore. Our monthly business amounts to over
Rs.25 crore in individual loans, ranging from as little as Rs.8,000 to Rs.1,00,000, and with
tenures ranging from 12 months to 36 months. Since its inception, we have financed over
2,15,000 white goods and two-wheelers, with over 90% of the business arising out of the non-
metro markets. This financing is backed by lines of credit extended by ICICI Bank, UTI Bank
and Development Credit.

Group Companies That Cater To Truck Financing Needs:

Shriram Investments Limited in the South Shriram Transport Finance Company Limited in the
West Shriram Overseas Finance Limited in Northern/Eastern regions in India.

Our Equity Partners:

Citicorp financial services Ltd. An arm Citigroup has taken 14.9% equity stake in Shriram
investments Limited and Shriram Transport Financial Company Limited in 2002.

FMO the Dutch Government owned financial services company has recently picked up equity
stake in SIL and STFC. The company has extended a long term debt of 6 million Euros each to
the two companies.

Reliance Capital has also taken an equity stake in the two companies at a premium.

An Overview Of The Shriram Group Truck Financing Business In India:

Area Of Operation All India

Branch offices 260

Employees 4000

Depositors 12.20 lakhs

Agency Force 15,000 plus resident representatives 1300.

Funds managed Rs. 6000 crores

Net worth Rs. 349 crores

Stock Listing Major exchanges including the BSE and the NSE.
We entered the consumer Durable Finance Business in early 2002. Through Shriram City
Union Finance Ltd. The consumer arm of the group. Within a short span of 2 years, we have
managed a profile of over rest 684 crores in this business.

Our monthly business amounts to over Rs. 25 crores in individual loans, ranging from as little
as Rs. 8000 to Rs. 100000 and with tenures ranging from 12 months to 36 months.

Since its inception we have financed over 215000 white goods and two wheelers with over
90% of the business arising out of the non-metro markets.

This financing is backed by lines of credit extended by ICICI Band, UTI Bank and Development
Credit.

Shriram chits is the largest chits fund in the country. We have grown to become a trusted
household investment option. The growth registered by Shriram Chits recent years not only
indicated the usefulness of this savings instrument, but is also a reflection our customers
trust in. Chits one of the earliest investment instrument known to man, were founded by the
enlightened communities of India. These have, ever since, worked to the advantages of
communities that are batting scarce capital resource.

Shriram chits started its operations in the year 1974 with a single branch that has quickly
grown into trusted household name for making chits a viable form of saving and borrowing
to all sections of the social.

Shriram chits operates in four states. Tamil Nadu, Andhra Pradesh, Karnataka and
Maharashtra, where has a reputation for timely disbursement of funds and excellent
customer services which differentiates it from other companies.
Using state of the art computer systems/networks and a transparent accounting system,
Shriram Chits have transformed this contemporary method of savings into an attractive
personalized to banking system.

This financing is backed by lines of credit extended by ICICI Band, UTI Bank and Development
Credit.

Shriram group has adopted a two strategy in this segment.

1. Broking arm – Armur Consultants – floated in year 2002

2. Retail Marketing Arm: Ski marketing floated in year 2001.

Armur Consultants Private Limited:

Armur consultant is engaged in insurance broking in corporate insurance markets and has
already aggregated business volumes in excess of Rs. 200 crores ($ 44 million) in premiums.

Amour consultant comprises a team of distinguished professionals from insurance, finance,

law and other management discipline, who have vast business and managerial experience.
The company has handled major claims for renowned clients. There have been several claim
cases that were won even in the arbitration stage.

The term at Armur Consultants begins with an in depth evaluation of the client company’s
business environment. The company’ risk profile is then studied. Based on the results of
these evaluations. The team then suggests the most cost effective, integrated insurance
package that is perfectly suited to the company’s risk profile.
The company plans to extend its customer base of the existing 500000 policy holders to cross
the 1 million mark by the end of financial year 2005-06.
SAMPLING:
Sample plan to know the perception of customers in this project is through personal
interview.

SAMPLE UNIT: I have taken the customers who are owning a truck or (HCV).

SAMPLING METHOD:
I have used Non- probability sampling i.e. Stratified Random Sampling. Sample size for this
project is 100 customers who are truck owners.

RESEARCH DESIGN:

In this research design of this project the study was conducted by the survey method.

 Taking sample of 100 customers owning trucks by commencing sampling using the
research instrument as the questionnaire.
 Personal interview is considered as the sample plan.
 For this project area of research is Lakhimpur City.

DATA COLLECTION METHOD:

I have collected the data from the following sources:

PRIMARY DATA SECONDARY DATA

 The data collected from the company  Interviewing with the owners of trucks
persons.  Internet
 Questionnaires  Magazines, Catalogs, etc.

MEASURING TOOLS:

For preparing this project I have considered questionnaire as measuring tool for collecting
the data.
1) Do you own a HCV?

Table: 3.1

Number of customers Percentage

Yes 100 100%
No Nil Nil
Total 100 100%

The information presented in table 3.1 reveals that:-

 Almost all respondents are owning Heavy Commercial Vehicle.

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.1
100
100
80
60
Percent
40
20 0
0
Yes No
Responses

Yes No
2. Source of finance for your HCV?

Table: 3.2

Sources Number of customers Percentage

Co-op banks 4 4%
STFC 61 61%
Tata finance 19 19%
Others 16 16%
Total 100% 100%

The information presented in table 3.2 reveals that:-

 61% respondents have taken loan from STFC.

 19% respondents have taken loan from Tata finance and 4% from co-op banks.

 While remaining 16% have taken from other finance companies.

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.2

70 61
60
50
Percent

40
30
19 16
20
10 4
0
Co-op banks STFC Tata finance Others
Responses

Co-op banks STFC Tata finance Others

3. Are you aware of STFC?

Table: 3.3

Number of customers Percentage

Yes 100 100%

No Nil Nil

Total 100 100%

The information presented in table 3.3 reveals that:-

 Almost all respondents are aware of STFC.

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.3

100 100

80

60
Percent
40

20
0 0 S1
Yes
No
Responses
Yes No
4) How did you come to know about this company?

Table: 3.4

Sources Number of customers Percentage

Friends 38 38%
Agents 24 24%
Advertisements 32 32%
Others 6 6%
Total 100 100%

The information presented in table 3.4 reveals that:-

 38% respondents have bought finance from STFC on the advice of their friends.

 24% will seek the advice of agents.

 While 6% from others and 32% on the basis of Advertisements.

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.4

38
40
35 32
30
24
Percent

25
20
15
10 6
5
0
Friends Agents Advertisements Others
Responses

Friends Agents Advertisements Others

5. Do you get the finance quickly from STFC?

Table: 3.5

Number of customers Percentage

Yes 84 84%

No 16 16%

Total 100 100%

The information presented in table 3.5 reveals that:-

 84% respondents are in favour of quick finance availability from STFC.

 While remaining 16% of them are not in favour of quick finance.

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.5

No
16%

Yes
84%

Yes No
6) Are you satisfied with the documentation process at STFC?

Table: 3.6

Sources Number of customers Percentage

Highly Satisfied 28 28%
Satisfied 42 42%
Neither satisfied/dis-satisfied 14 14%
Dis-Satisfied 14 14%
Highly dis-Satisfied 2 2%
Total 100 100%

The information presented in table 3.6 reveals that:-

 28% of the respondents are highly satisfied with the documentation process at STFC, 42% of
the respondents are satisfied and from the analysis 14% of them are neither satisfied/dis-
satisfied.

 Nearly 14% of the respondents are dis-satisfied and 2% of them are highly dis-satisfied.

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.6

50 42
40
28
Pecent

30
20 14 14
10 2
0
Highly Satisfied Neither Dis-Satisfied Highly dis-
Satisfied satisfied/dis- Satisfied
satisfied
Responses
Highly Satisfied Satisfied
Neither satisfied/dis-satisfied Dis-Satisfied
Highly dis-Satisfied
7) Do you require any changes in the documentation process?

Table: 3.7

Number of customers Percentage

Yes 28 28%
No 72 72%

Total 100 100%

The information presented in table 3.7 reveals that:-

 28% of the respondents require changes in documentation process at STFC.

 While 72% of the respondents are satisfied with the documentation process at STFC.

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.7

Yes
28%

No
72%

Yes No
8. What do you feel about the interest rates at STFC?

Table: 3. 8

Sources Number of customers Percentage

Very High 16 16%
High 44 44%
Moderate 34 34%
Low 6 6%
Total 100 100%

The information presented in table 3.8 reveals that:-

 16% of the respondents are in favour that interest rate at STFC is very high and 44% of them
are in favour of High rates.

 While 34% of them are in favour of moderate interest rates and 6% for low interest rates.

The same information is presented in the form of diagrammatically as follows:-

Diagram -3.8

50 44
40 34
percent

30

20 16

10 6

0
Very High High Moderate Low
Responses

Very High High Moderate Low

9) Are you satisfied by the percentage of finance provided by STFC?

Table: 3. 9

Number of customers Percentage

Yes 88 88%
No 12 12%
Total 100 100%

The information presented in table 3.9 reveals that:-

 88% of the respondents are satisfied with Percentage of finance given by STFC.

 While 12% of them are not satisfied.

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.9

No
12%

Yes
No

Yes
88%
10). Are you satisfied with the services offered by STFC?

Table: 3.10

Sources Number of customers Percentage

Completely Satisfied 10 10%
Satisfied 32 32%
Neither satisfied/dis-satisfied 20 20%
Dis-Satisfied 29 29%
Completely dis-Satisfied 9 9%
Total 100 100%

The information presented in table 3.10 reveals that:-

 10% of the respondents are completely satisfied with the service offered y STFC, 32% of
the respondents are satisfied and from the analysis 20% of the respondents are neither
satisfied/dis-satisfied.

 Nearly 29% of them are dis-Satisfied and remaining 9% of them are completely dis-
satisfied.

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.10
35 32
29
30
25 20
Percent

20
15 10
10 7
5
0
Completely Satisfied Neither Dis-Satisfied Completely
Satisfied satisfied/dis- dis-Satisfied
satisfied
Responses

Completely Satisfied Satisfied

Neither satisfied/dis-satisfied Dis-Satisfied
Completely dis-Satisfied
11) What are the features that attracted you to borrow loan from STFC?

Table: 3.11

Sources Number of customers Percentage

Low interest rates 6 6%

Easy documentation 10 10%

Quick finance 84 84%

Low EMI Nil Nil

Total 100 100%

The information presented in table 3.11 reveals that:-

 84% of the respondents are attracted by quick finance.

 10% of the respondents for easy documentation.

 While remaining 6% for low interest rates.

The same information is presented in the form of diagrammatically as follows:-

Diagram 3.11

100 84
80
Percent

60
40
6 10
20 0
0
Quick finance

Low EMI
documentatio
Low interest
rates

Easy

Responses

Low interest rates Easy documentation Quick finance Low EMI

12. How do you rate STFC with respect to other finance companies?

Table: 3.12

Sources Number of customers Percentage

Tate 12 12%
Ashok Leyland 18 18%
STFC 26 26%
HDFC 18 18%
ICICI 14 14%
SBI 12 12%
Total 100 100%

The information presented in table 3.12 reveals that:-

 12% of the respondents rated Tata in the 1st place with other company’s and 18% of them
for Ashok Leyland and HDFC in 2nd place.

 26% of them rated STFC in 3rd place.

 Nearly 14% of them for ICICI in 4th place.

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.12

30 26
25
20 18 18
Percent

14
15 12 12
10
5
0
Tata Ashok STFC HDFC ICICI SBI
Leyland
Responses

Tata Ashok Leyland STFC HDFC ICICI SBI

13. What is your experience when you approached the executives of STFC for
finance of HCV?

Table: 3.13

Sources Number of customers Percentage

Very good 22 22%

Good 48 48%

Neither good/bad 24 24%

Bad 4 4%

Very bad 2 2%

Total 100 100%

The information presented in table 3.13 reveals that:-

 22% of the respondents are in favour of very good behaviour from the executives of STFC, 48%
of them are in favour of good behaviour.

 24% of them are in favour of neither good/bad.

 While 4% of them are bad and 2% very bad.

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.13

60
48
50
40
Percent

30 22 24
20
10 4 2
0
Very good Good Neither Bad Very bad
good/bad
Responses

Very good Good Neither good/bad Bad Very bad

14. Are your queries cleared quickly?

Table: 3.14

Number of customers Percentage

Yes 82 82%
No 18 18%
Total 100 100%

The information presented in table 3.14 reveals that:-

 82% of the respondents are in favour that their enquiries are cleared quickly at STFC.

 While remaining 18% of them are telling their queries are not cleared quickly.

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.14

No
18%

Yes
82%

Yes No
15. Are you satisfied with the repayment system of STFC?

Table: 3.15

Number of customers Percentage

Yes 64 64%

No 36 36%

Total 100 100%

The information presented in table 3.15 reveals that:-

 64% of the respondents are satisfied with repayment system at STFC.

 While remaining 36% of them requires changes in repayment system.

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.15

No
36%

Yes
64%

Yes No
16. Do you recommend STFC to others?

Table: 3.16

Number of customers Percentage

Yes 68 68%

No 32 32%

Total 100 100%

The information presented in table 3.16 reveals that:-

 68% of the respondents are in favour of recommending STFC to others for taking loan.

 While remaining 32% of them are not in favour of recommending to others.

The same information is presented in the form of diagrammatically as follows:-

Diagram -3.16

No
32%

Yes
68%

Yes No
17. Do you want to take finance in near future from STFC?

Table: 3.17

Number of customers Percentage

Yes 60 60%
No 40 40%

Total 100 100%

The information presented in table 3.17 reveals that:-

 60% of the respondents wants to take finance in near future from STFC.

 While remaining 40% of them are not in favour of taking finance from STFC.

The same information is presented in the form of diagrammatically as follows:-

Diagram-3.17

No
40%

Yes
60%

Yes No
Less than anticipated growth in the face of intensifying competition and rising costs, can
hardly be expected to get the company foaming.

By seeing the observations most of the customers are having positive perception towards
Shriram Transport Finance Company Limited and are satisfied with their services such as
Quick finance, Easy documentation process etc. The company is progressing continuously in
the field of finance as Non-Banking Finance Company to compete with other Financial as well
as Non-banking financial institutions.

STFC is the Non-Banking Financial Company in the Indian scenario and it is the leader with
monopoly position in financing for Heavy Commercial Vehicles.
Market Survey
A Study Study Of Customer Satisfaction In Shriram Finance.

Your Name

Phone No.

Gender Male Female

Questionnaire:

Q1. Do you own a HCV?

Yes No

Q2. Source of finance for your HCV?

Co-op Banks STFC Tata Finance Others

Q3. Are you aware of STFC?

Yes No

Q4. How did you come to know about this company?

Friends Agents Self Experience Others

Q5. Did you get finance quickly from STFC?

Yes No

Q6. Are you satisfied with the documentation process at STFC?

Strongly Dissatisfied Dissatisfied Neither Satisfied / Dissatisfied Satisfied
Strongly Satisfied

Q7. Do you require any changes in the documentation process?

Very High High Moderate Low

Q8. What do you feel about the interest rates at STFC?

Very High High Moderate Low

Q9. Are you satisfied by the percentage of finance provided by STFC?

Yes No

Q10. Are you satisfied with the services offered by STFC?

Strongly Dissatisfied Dissatisfied Neither Satisfied / Dissatisfied Satisfied
Strongly Satisfied

Q11. What are the features that attracted you to borrow loan from STFC:
Low interest rates Quick Finance Easy Documentation Low EMI

Q12. How do you rate STFC with respect to other finance companies (1 being highest and 6 being lowest)?
1 2 3 4 5 6

Q13. What is your experience when you approached the executives of STFC for finance of HCV?
Very Good Good Neither Good/Bad Bad Very Bad
Q14. Are your queries cleared quickly?
Yes No

Q15. Are you satisfied with the repayment system of STFC?

Yes No

Q16. Do you recommend STFC to others?

Yes No

Q17. Do you intend to take finance in near future from STFC?

Yes No