Service Delivery Process

at Sharekhan Ltd.
 Contents

Industry Analysis
Company Profile
Service Encounters
Service Blueprint
Gaps Model
Questionnaire Analysis
 Industry Analysis

The share of service sector in Indias GDP for the fiscal
year 2009-2010 stood at 56%.
The Indian broking industry is one of the oldest trading
industries that has been around even before the
establishment of the BSE in 1875.
Trading, IPOs and Mututal Funds are the top three
products offered with 90% firms offering trading, 67%
IPOs and 53% firms offering mutual fund transactions.
The Indian retail brokerage market is going through a
wonderful phase with high growth rate. It is expected to
reach US$ 6535.7 billion by the year 2015.
 Company Profile

SHAREKHAN LIMITED
VISION: - To be the best retail broking brand in the
Indian equity markets.
Indias leading stock broker firm of SSKI group.
Sharekhan.com was launched in 2000.
More than 175 broking firms in over 80 cities. Into
broking industry since 80 years.
 Services of Sharekhan

Equity and Derivatives trading.
Depository services.
Mutual Funds.
Commodities trading.
DIAL-N-TRADE.
Portfolio Management.
Fundamental Research.
Technical Research.
 Service Encounter

The service encounter or Moment of Truth is

Meet the client & Get the Form

Sales Call
Convince him signed up

Generally there are three types of service encounters:-

1)Remote encounter(Website/Emails)
2)Phone encounter
3)Face-to-Face encounter
Service blueprint of Sharekhan Ltd

 Service Blueprint

The Blueprint will have 5 components
Physical Evidence
Customer Actions( Line of Interaction)
Onstage Contact Employee Actions (Line of
visibility)
Backstage Employee Actions (Line of internal
interaction)
Support Processes
 Gaps Model

Gap1:- The Promotional Gap:-
The origin of the problem lies in the companys marketing
communications.
In the bid to get new customers by selling the benefits of
their product or service companies can very easily create
expectations in the minds of customers that will be difficult
to fulfill.
Gap2:- The Understanding Gap:-
Another problem area is that the organizations do not have a
proper understanding of customers needs and priorities.
If they dont realize what is important to customers, it is
quite possible that customer will not be satisfied despite
good quality of service.

Gap3:- The Procedural Gap:-
Despite the organization having proper understanding of
what matters most to the customers it may still fail to deliver
customer satisfaction if it cannot translate customers
expectations into appropriate operating procedures and
systems.
Gap4:- The Behavioral Gap:-
Sometimes organizations establish clear procedures which
can match with the customers needs and priorities but still
fail to achieve a consistently high level of customer
satisfaction because staff may not be sufficiently trained or
disciplined to follow the proper procedures at all times.

Gap5:- The Perception Gap:-
It is possible that above mentioned gaps do not exist
still some customers may be dissatisfied.
This is because of the customers perception of the
performance of organization which may differ from
reality.
 Questionnaire Analysis

The sample size for this was 50
A Likert Scale was used, where customers were asked to
rate the given parameters on the scale of one to five.
These parameters were clubbed together to get a clear
understanding of the satisfaction of the customers with
sharekhan. All the levels of scale were given different
weight as follows:
Highly dissatisfied (high dis)-1, dissatisfied (dis)-2,
neutral (neut)-3,satisfied-4, highly satisfied(high sat)-5.
These values are shown in bracket besides the categories
under a bracket.

high dis neut sat( high
dis(1) (2) (3) 4) sat(5)
calls made 10 7 10 20 3
Behavior 0 0 5 40 5
knowledge of executive 0 5 3 29 13
reply of executive 1 7 10 26 6
Brokerage 10 5 5 23 7
trading screen & browser
speed 0 0 2 31 17
account opening duration 13 17 0 18 2
meeting before activation 3 17 6 19 2
Response time 3 7 2 29 9

The number of respondents in each category for
every parameter was multiplied with their respective
weight and then the values for there parameter were
added.
The sum was then divided by the number of
respondents.
This way the average was calculated for each
parameter.
 high Neut Sat high Max
dis(1) Dis(2) (3) (4) sat(5) Total Score Score
calls made 10 14 30 80 15 149 2.98 5
Behavior
Knowledge of
0 0
15 160 25 200 4 5

executive 0 10 9 116 65 200 4 5

reply of
executive 1 14 30 104 30 179 3.58 5
brokerage 10 10 15 92 35 162 3.24 5
trading screen &
browser speed 0 0 6 124 85 215 4.3 5
account opening
duration 13 34 0 72 10 129 2.58 5
meeting before
activation 3 34 18 76 10 141 2.82 5
Response time 3 14 6 116 45 184 3.68 5
 Findings

Telephone encounters, related to toll-free number also
create a higher level of satisfaction.
Customers are highly satisfied with the knowledge and
behavior of the executives.
The time taken to activate the account is dissatisfactory as
there exists a promotional gap. The company promises to
activate the account in 10-12 working days, but in many
cases this stretches to 16-18 working days.
Generally, the customers are satisfied with the
demonstration, yet there is scope for improvement.

The customers have, generally, been found to be satisfied
with the reply of the executives to their query. This can be
inferred from the average of the query which is 3.58 and
is very close to satisfaction level.
The response time of the executives has also played an
important role in the satisfaction level of the customers, as
is clear from the average of 3.68.
Brokerage charged by the company is one area where the
company should work on. The satisfaction index shows
the level of satisfaction in this regard to have an average
of 3.24 only.
 Suggestions

Training to the employees to minimize deficiencies and
fasten the process of account activation.
Account activation duration should be decreased from the
present level of 16-18 working days to the promised
duration of 10-12 working days.
Brokerage charged by the company should also be
brought down to compete with other players. (especially
in intra-day trading.)
Mock demonstration should be conducted by the
employees in the office itself by the onstage contact
employees among themselves and they should try to
assess their weakness and strengths in the presentation.
 Conclusion

The research was an opportunity to understand the
service delivery process of a major financial
institution of the country.
The concept of service blueprint was used to
understand customer needs and as a tool of service
improvement through which all service encounters
were analyzed and classified.