CONTEMPORARY ISSUES IN BUSINESS, BANKING AND FINANCE

CONTEMPORARY ISSUES IN BUSINESS, BANKING AND FINANCE

Editor Dr. V. MANIKANTAN Head, Departments of Accounting and Finance and Bank Management Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai -4

Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai -4

Book Name

: CONTEMPORARY ISSUES IN BUSINESS, BANKING AND FINANCE

Editor

: Dr. V. MANIKANTAN

Copy Right

: Š Departments of Accounting and Finance and Bank Management Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai -4

Edition

: First

Pages

: 1-306

All rights reserved. No part of this publication can be reproduced in any form by any means without the prior written permission from the publisher. All the contents, data, information, views opinions, charts tables, figures, graphs etc. that are published in this book are the sole responsibility of the authors. Neither the publishers nor the editor in anyway are responsible for the same. Information contained in this work has obtained by publishers, from sources believed to be reliable. However, neither publication nor copyright holders guarantee the accuracy or completeness of any information published herein, and neither publishers nor copyright holders shell be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that publishers and copyright holders are supplying information but are not attempting to render engineering or other professional services. If such services are required, the assistance of an appropriate professional should be sought.

ISBN: 978- 93- 87756- 82-3

Mayas PublicationÂŽ Tamil Nadu | Kerala | Karnataka | New Delhi Maya1984Kannan@gmail.com www.mayaspublication.com www.eijfmr.com

Acknowledgement We express our deep gratitude to our Revered Secretary Maharaj, Swami Shukadevanandaji for all the support and encouragement extended to us for organising this 2nd National Conference. We are very much obliged to our Principal, Dr. K. Sethusankar, for giving us the academic freedom in bringing out this publication on “Contemporary issues in Business, Banking and Finance”. We are grateful to our Evening College In-Charge, Swami Muktimayanandaji for his continuous guidance and support extended towards the departments for conducting this programme. We are also thankful to our Evening College Coordinator, Mr. R. Sriram, for his support and cooperation. We express our sincere thanks to our Departments’ staff for their support extended by them in the conduct of the programmer.

Dr. V. Manikantan Head of the Departments Departments of Accounting & Finance and Bank Management

Secretary’s Message Swami Vivekananda said, “All knowledge that the world has ever received comes from the mind; the infinite library of the universe is in your mind�. It is heartening to know that our students of Accounting & Finance and Bank Management have strived hard to harness the potential of their minds. I congratulate the Departments for hosting its 2nd National Conference on Contemporary issues on Business, Banking and Finance on 19th March 2019. I am sure that the conference would be a great opportunity to keep the students abreast of the contemporary trends in the fields of Finance and Banking which will be useful to enrich their knowledge. May Sri Ramakrishna, Holy Mother, Sri Sarada Devi and Swami Vivekananda, shower their choicest blessings on all of them to grow in a purposeful manner for building a strong Nation.

(Swami Shukadevananda) Secretary

Evening College Incharge’s Message I am glad to learn that the Departments of Accounting and Finance & Bank Management have decided to organize the 2nd National Conference on “Contemporary Issues in Business, Banking and Finance”. The topic assumes vital importance as India has taken a proud leap in the group of fast developing economies. Especially with the improvement in country’s annual GDP growth in last few years, its jump in the rank of ease of doing business, etc. India has made its mark in the World as one of the top favouredeconomy for investments, on account of steps taken by the government to improve business climate and liberalized policy norms. There has been a substantial rise in the foreign direct investments as well. The taxation reforms and other steps taken are helping consolidate India’s trade environment positively. All these factors have shaped the growth story of India. Every common person is a member of this growth story in whatever insignificant manner may it be. To see India well advanced amongst League of Nations, established in a prominent position among countries was Swami Vivekananda’s dream. “India must conquer the world and nothing less than that is my ideal. It may be very big, it may astonish many of you, but it is so”, he said. But with the development of economy our poor and marginalized people must also be empowered. In words of Swamiji to quote again, “No amount of politics would be of any avail until the masses in India are once more well educated, well fed, and well cared for.” Hence the conference becomes of immense importance for the future of India; the students who have to understand the problems, challenges and opportunities today and have to work out the solution tomorrow to raise the Nation to new heights of success. “Let New India arise--out of the peasants' cottage, grasping the plough; out of the huts of the fisherman, the cobbler and the sweeper. Let her spring from the grocer's shop, from besides the oven of the fritter-seller. Let her emanate from the factory, from marts and from markets. Let her emerge from groves and forests, from hills and mountains”, exhorted Swami Vivekananda. Let us join our efforts to make Swamiji’s dream a reality. I extend my warm greeting and pray for all the success of the Conference led by teachers and students of the Departments under the able leadership of Dr. V.Manikantan. May the Holy Trio’s blessings be with all of us in this noble endeavor.

(Swami Muktimayananda) Incharge, Evening College

Principal’s Message Globalization, privatization and digitalization today have dramatically reshaped the fields of Business, Banking and Finance in India and have created tremendous opportunities for expanding globally. However, many challenges and obstacles are being faced in the strategic planning and the mechanics of bringing internationalization. I am immensely happy that the Departments of Accounting & Finance and Bank management of our college is organizing the 2nd NationalConference on the topic, “Contemporary issues in Business, Banking and Finance�, on 19.03.2019, and is going torelease a journalwith research articles relating to the theme. I congratulate the Head, Dr. V. Manikantan for organizing this conference which would certainly help students to have a better understanding to contribute more for the development of the Nation. I appreciate the department staff for their contributions and support extended. I extend my best wishesfor the success of this conference.

(Dr. K. Sethusankar) Principal

Evening College Coordinator’s Message I am extremely glad to know that the Departments of Accounting & Finance and Bank Management are hosting their 2nd National Conference. The Departments’ teachers deserve to be commended for encouraging their students to widen their knowledge horizon. The students have gone beyond descriptive study of their subjects. They have begun their journey in Business Research in the right earnest. Their efforts have been recognized by their Head, Dr. V. Manikantan, who is publishing them as a ISBN Journal. Research aptitude is extremely critical in the years to come. I am confident that the students of the Departments are going to have a competitive edge. I wish and congratulate the teachers and students of the Department for the success of the Conference.

(R. Sriram) Evening College Coordinator

Editor’s Foreword The Technical advancement has brought in a sea change in our Economy. The impact seen after the Liberalization, Globalization and Privatization is severe in the major sectors like Banking, Finance and Business. The business fundamentals are being restructured not in an orderly transition but also a seismic shift is bringing instability. The present day scenario necessitates technical experts, bankers, economists and financial experts to look forward to developing more robust and pragmatic management and financial mechanisms to cope up with the financial downturns in future. The main objective of this conference is to have a common platform to discuss about the recent reformations seen in the field of Business, Banking and Finance, to analyze on the growth / challenges faced by the shifting paradigm.

Dr. V. Manikantan Editor

CONTENTS SI.NO 1 2

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8 9 10 11 12

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TITLE OF THE PAPER A Study on Effect of Advertisement on Consumer Behaviour K.V.VISHWANATHAN A Study about the Demographic Factors Influencing the Investment Alternatives with Special Reference to Chennai City S. BALAJI A Study of Comparative Analysis of Indian Telecom Sector with Special Reference to (Airtel, Jio, Vodafone, Idea, BSNL) in Chennai S. RAMESH ARAVINDH A Study of Factors Influencing the Purchase of New Motor Vehicles with special reference to Passenger Cars in Chennai City R. ADHITHYA A Study on Brand Equity Analysis with special reference to Nokia in Chennai B. SIDDHARTH A Study on Consumer Behaviour in Online Shopping with special reference to Chennai City SACHITH AGARWAL A Study On Consumer Preference and Purchase Behaviour with Regard to Soft Drinks in Chennai ASHISH VENUGOPAL A Study on Consumer Preference Towards Royal Enfield with Special Reference to Chennai City S. BHARATH A Study on Credit Cards AL. MANIKKAVASAGAM A Study on Customer Satisfaction of E-Banking With Special Reference To ICICI Bank In Chennai City V. CHANDRAMOULI A Study on Customer Satisfaction of Ola Cabs S. I. SYED IMRAN A Study on Effect of Odd End Pricing on Consumer Behaviour A Study with special reference to Chennai City S. NAGARAJAN A Study on Effectiveness of Online Advertising with reference to Chennai City RAGHAV NARASIMHAN A Study on Employees’ Perception on Green Business Practices with special reference to Tata Consultancy Services, Chennai B. KARTHIKEYAN A Study on Factors Influencing Consumers Impulse Buying Behaviour with reference to Chennai R. SARAN A Study on Human Resource Recruitment and Selection Process with special reference to it Industries R. SAI YUKESH A Study on Impact of Microfinance on Women Empowerment with special reference to Chennai City S. DIWAKAR A Study on Investors Perception in Post Office Savings Schemes C. SHIVARAMAN A Study on Job Satisfaction in Reserve Bank of India with special reference to Chennai Reigion R. RAHUL

PAGE NO 1-4 5-7

8-13

14-17

18-22

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31-34 35-38 39-42 43-46 47-50

51-55

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66-69

70-74 75-78

79-82

20 21

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A Study on Services Marketing with special reference to Tourism in Chennai M. VINABAV KUMAR A Study on Tax Planning Measures Adopted By Salaried Assessees in Chennai B. KUMARAN A Study on the Impact of Macroeconomic Variables on the Indian Stock Market with special reference to National Stock Exchange - Nifty 50 G. CHANDRAMOULI A Study on the Influence of Entertainment Marketing and Customer Attraction by Shopping Malls with special reference to Shopping Malls in Chennai City M. PRAVEEN A Study on Usage of Debit Card with reference to Chennai City IYER HARIHARAN KRISHNAN A Study on Viewers Satisfaction Towards Tamil News Channels with reference to Chennai City B. ARUNGANESH Parents Preference to Public or Private School With special reference to T. Nagar in Chennai City

83-86

87-90

91-96

97-100

101-104 105-109

110-114

K. MAHESH 27

28 29 30 31 32 33 34

35 36 37

38

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A Study on Customer Relationship Management in Vodafone Network with reference to Chennai City K. GURUMURTHY A Study on Service Quality in Automobile industry With reference to Motor Cars C. R. SACHIN Brand Management of Amul M. KISHORE Buyer Behaviour Towards Organic Foods in Chennai P.SANTHOSH Employees Workplace Stress in Textile Shops A Study with special reference to Textile Shops in T.Nagar, Chennai City B. S. ACHUTHA Evolution of Unified Payment Interface in Fintech ASHWIN SRIKANTH Impact of Buying Foreign Goods on Indian Economy V. SANJAY SRINIVAS Impact of Incentives on Employee Performance A Study with special reference to Simpson Co.Ltd V. SETHU BALAJI A Study and Analysis of Effectiveness and Efficiency of Marketing Stratergies of PVR Cinemas RAGHAV GUPTA A Study on Brand Loyalty Towards Maggi A. R. ARUNACHALAM A Study on Consumers Perception Towards Life Insurance Policies with reference to Chennai K. VAISHNAV NARAYANAN A Study on Customer Awareness in Banking Technology with reference to Chennai City T. VENKATA KARTHICK A Study on Customer Satisfaction of Airlines with special reference to Chennai City B.VISHAAL MALOLAN

115-118

119-121 122-126 127-131 132-136 137-140 141-145 146-149

150-154 155-159 160-165

166-170

171-174

40

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44 45 46

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48 49 50 51 52

53

54 55 56 57 58

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A Study on Customer Satisfaction Towards R-Jio with Special reference to Chennai City R. SRIRAM Outreach of Experiential Marketing in India A Study with special reference to Chennai City J. ABHILASH Comparative Study Between Authorized Service Centers and Local Workshops for Motorcycles with special reference to Chennai City S. SAIVIGNESH Service Quality & Satisfaction Towards Hospital Industries -A Study with special reference to Private & Government Hospitals in Chennai City AASHISH MADHUKAR A Study on Investment Pattern of Salaried People With Special Reference To Chennai City G. AMRITH Perception of Investors Towards Mutual Funds J. SUHAS A Study on Customer Satisfaction Towards State Bank of India with special reference to Chennai City G. CHANDRASEKAR A Study on Need For Education on Politics For College Students with special reference to Colleges in Chennai City N. MANIKANDAN A Study on Personal Care Products in the Purchasing Behavior of Women Consumers in Chennai City V. YAGNA RAGHAVAN A Study on Venture Capital Financing in Chennai City A.JAGAN Cost And Benefit Analysis of Bus Transport Service, Impact on Savings and Income in Chennai District V. J. HEMANTH KUMAR. Study on Shadow Banking: A threat to Commercial Banks K.R.SHRREYAS RAGHAVAN The Study on Consumer Addiction in Relation to Mobile Phones with special reference to Chennai Region S. ASWATH NARAYANAN Effects of Public Distribution System in the Livelihood of People with Respect to Chennai District AASHIRWAD CHATTERJEE Comparative Study on Factors Affecting Online and Offline Shopping in Chennai District A. ATISH PAWAR Awareness of Fintech Companies with respect to Chennai Region T. MANJUNATHAN Bankruptcy Prediction by Z-Score Model: A Study with reference to Bharti Airtel Company R. VIJAYAKUMARAN A Study on Impacts of Competency Mapping at it Sectors in Chennai R. ANANDHA GANESH A Study on Impacts of Conflict Management among Employees Working in its Sector VS. ANIRUDH A Study on Consumer’s Perception and their Satisfaction towards Second-Hand Bikes in Chennai S. ABINESH

175-179

180-184

185-188

189-193

194-197 198-202 203-207

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212-216 217-220 221-224 225-228 229-232

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238-241 242-244 245-249 250-254 255-258

259-262

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61 62 63

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67 68 69

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Consumers Buying Behavior in Relation to Durable Goods a Study with Special reference to Chennai City N. K. SUDARSHAN A Study on Customer Perception Towards Patanjali Products in Chennai City D. SOURAV JAIN Customer Perception Towards Online Pharmacy Shopping S. JAISRIRAMSHENOY Impacts of Customer Relationship Management in Retail sector with special reference to Nilgiris M. MANIKA VIGNESH Customer’s Perception Towards Shopping Malls- A study with Special reference to Shopping Malls in Chennai City M. BALAJI Educational Loans A Study with special reference to SBI, AXIS & HDFC Banks in Chennai City M. SHRI RAAM A Study on Effects of Digital Marketing on Food Apps Towards Customers in Chennai S. MURALIDHARAN Impact of Buying Behaviour on Stock Level Maintenance in Retail Stores with special reference to Thiruvanmiyur in Chennai Region B. PRASANNA BALAJI The Role and Impact of Packaging on Consumer Buying Behavior Ch. V. NILESH KUMAR Women Empowerment on Hotel Management with special reference to Park Hyatt Chennai City M. LALITH KUMAR Youngsters Awareness Towards Investing in Stock Market with respect to Chennai Region V. VISVVESH Awareness in the Minds of People about Health Insurance with special reference to Chennai City P. VENKATANAATHAN Awareness and Perception of Usage of Plastic Bags -A Study With Special Reference to Chennai City V.VIJAY SUNDAR Consumer Awareness of Green Products in Chennai City N. KARTHIK BABU Consumer Behaviour Towards Branded Ready-To-Eat Food Products in Chennai K.S. LAKSHMI NARASIMHAN Consumer Preference of KFC in Chennai SYED IBRAHIM BIN MOHIDEEN FDI Inflows In India R.KIRAN

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267-270 271-274 275-278

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291-294 295-298 299-302

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311-314 315-318 319-322 323-326 327-331

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON EFFECT OF ADVERTISEMENT ON CONSUMER BEHAVIOUR K.V.VISHWANATHAN Final year, Department of Accounting & Finance Ramakrishna Mission Vivekananda College Evening College (Autonomous) Mylapore, Chennai-600004 ABSTRACT This study deals with the various types of advertisement and its effect on consumer behaviour. Advertisement is the only medium which lets the consumers to know about a new product that has launched in the market. Many advertisers and even consumers believe that advertisement helps in increasing the sales of the product. So this study has been conducted to know whether there is a relationship between effect of advertisement and consumer behaviour .For this purpose primary data was collected in the form of questionnaire and was distributed among the various consumers in Chennai city. SPSS 16 software was used to analyse the data collected and various tools were used. Result of regression analysis proves that there is a significant relationship between effect of advertisement and consumer behaviour. It was concluded that advertisement had a greater impact on consumers, so the advertisers must take at most care while doing advertisement and must not include any false statement in the advertisement which affects the opinion of the consumer. Another conclusion was that internet advertising was preferred by many of the consumers when compared with television. So advertisers should concentrate more on social media advertising which helps to attract more consumers in the modern era. Keywords: Advertisement, Consumer behaviour, Effectiveness. I. INTRODUCTION Advertisements have been utilized for a long time to impact the purchasing practices of the consumers. Advertisements are useful in making the mindfulness and observation among the customers. Evidences propose that the Romans working on advertising; yet the soonest sign of its utilization in this nation goes back to the medieval times, when the utilization of the surname demonstrated a man's occupation. The following stage in the development of advertising was the utilization of signs as a visual articulation of the tradesman's capacity and methods for finding the wellspring of merchandise. This strategy is still in like manner use. The vender in crude occasions depended upon his noisy voice to draw in consideration and educate consumers of the accessibility of his administrations. On the off chance that there were numerous contenders, he depended upon his very own attraction to pull in consideration regarding his stock. Regularly it wound up fundamental for him to depend on influence to pinpoint the benefits of his items. Along these lines, the merchant was doing the total advancement work himself. In the present unique world, it is practically incomprehensible for advertisers to convey advertising message and data to purchasers without utilization of advertising. Absolutely, this might be a result of the globalization and availability of many channels for the watchers of this cutting edge period. So this research is based on the attitudinal behaviour of consumers on various types of advertisement. II. OBJECTIVE OF THE STUDY 1. To study about the various types of advertisements. 2. To study the effectiveness of advertisement on consumer behaviour. 3. To identify the extent to which consumers are affected by the messages and strategies used in advertisements. Limitations Although this research was prepared carefully, the period of time is not sufficient for the researcher to observe large respondents from different areas of city; research can be further conducted in other cities of Tamilnadu also but it only focused mainly on one city. It would be best if it was done in a longer period of time on large geographical area and with fewer burdens of other subject’s projects. Some other limitations to research also include: a. Limited statistical were used for this study. These techniques have their own limitations and they are bound to be present in the study. b. Sample size restricted to 100 only which was very less according total population. Review of Literature 1. Abdul Ghafoor, Awan Muhammad Ismail, Captain Fauzia (2016) has focused on the Effects of Advertisement on Consumer’s Buying Behaviour with References to FMCGs in Southern PunjabPakistan. The authors have said that, Advertisement is generally used for creating awareness and promoting products. The objective of this paper was to find out how much advertisement brings effect on the consumer’s buying behaviour with reference to FMCGs. The authors has used the 5 point Likert scale with cross sectional data, 250 questionnaires here distributed in five cities of southern Punjab (Bahawalpur,

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Layyah, Tounsa, Bhakhar and Multan), as a sample, and received 231 complete questionnaires from respondents after field survey. With the help of Kirkpatrick model that contain one dependent and five independent variables, a conceptual framework was developed. Data was analyzed by using different statistical techniques such as descriptive statistic, Correlation analysis, and regression analysis. Results of our study are robust because the evidence shows that an advertisement has significant impact on consumers’ buying behaviour and their choices. 2. Samar Fatima and Samreen Lodhi (2015) have analyzed the Impact of Advertisement on Buying Behaviors of the consumers: Study of Cosmetic Industry in Karachi City. Advertisements have been used for many years to influence the buying behaviours of the consumers. Advertisements are helpful in creating the awareness and perception among the customers of cosmetic products; both of these variables are lethal combination to influence the buying behaviors of the consumers. This particular research was conducted on the 200 young male or female who use different brands of cosmetics to check the influence of advertisement on their buying behaviour while creating the awareness and building the perceptions. Correlation and regression analysis here used to identify the relationship between these variables. The results show that advertisements are very useful in creating the awareness among the people but they are failed to build strong perceptions in the mind of consumers. Both of these variables such as consumer awareness and consumer perceptions will motivate the consumer to buy a certain product, as there is a positive relationship present in betheen them. 3. V. Sindhya (2013) has done A Study on the Influence and Impact of Advertising to Consumer Purchase Motive among Student Teachers. The study aims to investigate and evaluate the impact of advertising on the consumer preferences and loyalty in regards to the product/service promotion of different products among student teachers of Kerala. . Survey method was used for the study which is supported by interview on a sample of 200 student teachers selected from two colleges in rural and urban based. The study reveals that the level of awareness of the effect of advertisement is comparatively better than expected among the student teachers. Many of them are active listeners of the media for gathering information regarding the new products, trend in the market and make a comparison with the products of other firms. The consumer culture is more prevalent in rural students than in urban students. Majority of female students are interested in cosmetics and jewellery while the male students are more concerned with automobiles and electronic equipments. Methodology In the present study, primary data was collected through questionnaire from 100 respondents of various classes in Chennai city, the data collected was analyzed through statistical tools for fulfilment of the objective of the study. Tools Used 1. Chi-square test 2. Anova 3. Regression Data Analysis and Interpretation This chapter includes a systematic presentation of data obtained from the survey about the Effect of Advertisement on Consumer Behavior. A structured questionnaire was sent to a total of 100 respondents for the analysis. The study included different age groups, different occupations of the respondents. Hypothesis Testing  Chi-Square Test H0: There is no significant relationship between the age of the respondents and the type of advertisement they prefer for the information of new product. H1: There is a significant relationship between the age of the respondents and the type of advertisement they prefer for the information of new product. Table 1.1 Chi-Square Tests Value 17.372a 20.224 5.804 116

Pearson Chi-Square Likelihood Ratio Linear-by-Linear Association N of Valid Cases

2

df 12 12 1

Asymp. Sig. (2-sided) .136 .063 .016

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation From the Table (1.1) it is found that the p-value (0.136) is greater than the Pearson’s chi square vale at 5% level of significance. Hence the null hypothesis is accepted. So, it is concluded that there is no significant relationship between the age of the respondents and the type of advertisement they prefer for the information of a new product. Regression H0: There is no significant relationship between the Impact of advertisement and consumer’s behaviour. H1: There is a significant relationship between the Impact of advertisement and consumer’s behaviour.

Model

1

Table 1.2 Coefficientsa Unstandardized Standardized Coefficients Coefficients B Std. Beta Error 2.486 .283 .258 .080 .291

(Constant) Impact Of Advertisement a. Dependent Variable: Consumer Behaviour

t

Sig.

8.781 3.244

.000 .002

Interpretation From the Table (1.2) it is found that the p-value (0.002) is less than the Coefficient value of the Regression at 5% level of significance (0.05). Hence the null hypothesis is rejected. So, it is concluded that there is a nonzero correlation and there is a significant relationship between the impact of advertisement and consumer’s behaviour. Anova H0: There is no significant relationship between the Age of the respondents and the type of Advertisement which is influential towards consumer behaviour. H1: There is a significant relationship between the Age of the respondents and the type of Advertisement which is influential towards consumer behaviour.

Age Between Groups Within Groups Total

Table 1.3 ANOVA Sum of df Squares 8.504 4 104.048

111

Mean Square 2.126

F

Sig.

2.268

.066

.937

112.552 115 Interpretation From the Table (1.3) we come to know that the p-value is (0.066) which is greater than the significance value of 0.05. Hence the null hypothesis is accepted. So, it is concluded that there is no significant relationship between the age of the respondents and the type of Advertisement which is influential towards consumer behaviour. III. FINDINGS, SUGGESTION AND CONCLUSION  A large number of respondents prefer Internet as a medium of advertisement for information of a new product.  A large number of respondents have opted for television as a medium of advertisement which is more influential towards consumer behaviour.  Majority of the respondents have strongly agreed to the statement that, advertisement helps in increasing the sales of any product  Advertisement should be made with keeping the determinants of effectiveness in mind.  Advertisement should be according to the product and its suitability with different age groups.  Advertisement in Internet should be given an equal importance as advertising in television because of the modern era and change in the trend of marketing.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 IV. CONCLUSION The result of Regression analysis justifies the statement that, there is a significant relationship between advertisement and its impact on consumer’s behaviour. So it is job of the advertisers to take efforts and try to make it more effective. The present era witnesses the revolutionary change in the trend of marketing. The results of the survey tell us that a majority of the respondents have preferred internet for the information of a new product. It is surprising that respondents have opted for Internet instead of television. This could be because of Internet being easily accessed by all the age groups of consumers. So it is concluded that the advertisers should use advertising medium in a good way as it is more influential towards consumer behaviour and try to adapt to the changing environment and technology and use Internet advertising to the fullest as this medium is used by all age of the consumers. V. REFERENCES 1. Abdul Ghafoor, Awan Muhammad Ismail, Captain Fauzia and Majeed Farisa Ghazal, “Effects of Advertisement on Consumer’s Buying Behaviour with References to FMCGs in Southern PunjabPakistan”, Journal of Marketing and Consumer Research, Vol. 19, pp. 22-30, 2016. 2. P. Sathya and R. Indirajith, “A Study on Purchase Behavior of Consumer Durable Goods with Special Reference to Tiruvarur District”, International Journal of Scientific Research and Management, Vol. 6, No. 2, pp. 100-107, 2016. 3. Ashish Kumar and Poonam Gupta, “To Analyze Consumer Buying Behaviour and Preferences in the Home Appliances Market of Hailer”, International Journal of Engineering and Technical Research, Vol. 3, No. 4, pp. 132-140, 2015. 4. Samar Fatima and Samreen Lodhi, “Impact of Advertisement on Buying Behaviors of the consumers: Study of Cosmetic Industry in Karachi City”, Journal of Marketing and Consumer Research, Vol. 19, pp. 22-30, 2015. 5. V. Sindhya, “A Study on the Influence and Impact of Advertising to Consumer Purchase Motive among Student Teachers”, IOSR Journal of Research and Method in Education, Vol. 2, No. 4, pp. 1-5, 2013. 6. Abiodum, A. O., 2011. The impact of advertising on sales volume of a product. A case study of Starcomms plc, Nigeria. s.l.:s.n. 7. Ingavale, D. R., 2013. Impact of advertisements on purchase decisio n of youth with reference to consumer goods. Advances in management, September.6(9).

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3

A STUDY ABOUT THE DEMOGRAPHIC FACTORS INFLUENCING THE INVESTMENT ALTERNATIVES WITH SPECIAL REFERENCE TO CHENNAI CITY S. BALAJI Final year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai-4 ABSTRACT Generally investments are seen as an activity that ensures the safety and liquidity of funds but in today’s wide diversifications and alternatives available the market the investment choices are more thus it creates a confusion and ignorance for investors. The study made has clearly revealed the fact that there is an insignificant relationship between the demographic factors and choice, value of investment. Though in a general overview of financial management or investment management that say that there is a significant relationship between the demographic factor and the choice and value of investment it is not been the same case here in the study made over the sample respondents this may be due to the narrow view of individual and other similar constrains that they have felt during the time of answering the questions those are framed and enclosed in the annexure part of the study and also it is due to the number of youth population in the sample size who does not give much care about the question asked and does gave as opinion only on general and particular basis. So thus in short it can be said that the study made have adverse view over the general view of investment affecting factors. Key words: Investment, demographic factors, safety and liquidity. I. INTRODUCTION Today’s economic condition and heavy fluctuations in market create an uncertainty of funds in hands of the individuals. So the safety and gains of the funds play an important role in individual savings and investment. The key here is to mobilize the savings and investing it in a proper channel that gives a good return to the investors and at the same time the funds invested should have a lesser risk. Generally investments are seen as an activity that ensures the safety and liquidity of funds that is being invested but in today’s wide diversifications and alternatives available the market. Objectives of the study  To study how the demographic factors influence the choice of investments.  To understand what will be the investment alternatives that will be opted for in the future.  To analyze the pattern of investment of individuals.  To analyze the value of investment made by individual. Statement of the problem In today’s world investment plays a vital role in mobilization of savings into a productive activity, the mobilization process ensures that the surplus funds does not remain idle. The amount of funds that is going to be mobilized depends on the income levels and the objective that needs to be achieved by the investors. The individuals need to identify various investment alternatives before they mobilize their funds. Irrespective of choice of the investment alternatives that is being chosen would have the mix of both risk and return. The demographic factors such as age, income levels, gender and marital status play a vital role in selection of the investment and amount so invested in the alternative. This study focuses on understanding the relationship of demographic factor and the investment alternatives that is being chosen. The study also brings out the amount of funds invested by individuals by taking into account of the demographic factors. Limitations of the study As the research is based on samples it may not reveal the factual information of the study.  Due to time constraints the study is only restricted to Chennai city.  The respondents were hesitant to go into details because of their busy schedules.  A sample size of only 80 was taken from the large population for the purpose of the study so there can be a difference in results of sample from the total population.  The study did not go deep on particular type of investment.  As the investment motives and needs are changing, what is relevant today might be irrelevant tomorrow. Review of Literature Dusenberry (1949) the research made has found out that the that the saving rate depends not only on the level of income but also on the relative location of the individual on the income scale and the saving rate is dependent on the ratio of the current income to the peak level income previously reached. This is one of the oldest researches made about the investments alternatives and the investment analysis.

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3 The National Council of Applied Economic Research (1961) has made a study on the individual’s savings in real assets be dominated during the period 1948-51 to 1951-56. This is one of the oldest by the national council of applied economic research The (1962) study found that provident funds to be the most frequent form of savings, followed by liquid assets, own houses, life insurance, gold and Jewelers, etc, among the urban households. Somasundaram (1998) the study made has found that the bank deposit and chit fund are the wellknown method of savings in the market among the investors in the market and the least known method of savings in the market are the UTI (Unit trust of India) savings plan and such plantation plans. This study is made is one of the ideal studies made because of its subject matter and its part over the analysis. N.geetha and M.Ramesh (2012) The study tries bring out the relationship between gender, age, training, occupation, pay and family measure more than a few components of investment choices like needs dependent on qualities of ventures, time of investment, reach of data source, recurrence of investment and systematic capacities in Nagapattinam region of Tamilnadu, South India and the measurable inductions were reasoned utilizing PC programming devices. The examination uncovers that the statistic factors have a noteworthy impact over the investment choice. Dr.Dhirajjain and Mr. Nikhil mandot (2012) This study has taken the demographic factors like the age, gender, income, family condition, education, occupation of individual and also the environment on which people live of individual investors and compared with the quantum of risk in Rajasthan. The study brings out the market fluctuation and its effect on investors to a particular extend. So here the main objective is to find out the exposure of risk in market for investors. Data Analysis & Interpretation Chi-square test for choice of investment and age factor of respondents Table 1 CHOICE OF INVESTMENT Total Title investment Real investment Contingent (bonds, shares, (real estate, investment deposit) gold , silver ) (insurance) Age 10-20 11 15 5 31 21-30 10 9 1 20 31-40 1 6 2 9 41-50 2 3 2 7 51-65 1 2 2 5 ABOVE 65 5 0 3 8 Total 30 35 15 80 Chi-Square Tests Table 1.1 Value df Asymp. Sig. (2-sided) Pearson Chi-Square 14.438a 10 .154 Likelihood Ratio 18.375 10 .049 Linear-by-Linear .732 1 .392 Association N of Valid Cases 80 a. 13 cells (72.2%) have expected count less than 5. The minimum expected count is .94. Interpretation From the above table 1and 1.1it can be inferred that there is no significant relationship between the age factor and choice of investment. Actual p is equal to .154 is higher than the assumed value of .05.

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3 Correlation between value of investment satisfaction level Table 2 Value of Satisfaction investment level Pearson Correlation 1 -.137 Value of investment Sig. (2-tailed) .225 N 80 80 Pearson Correlation -.137 1 Satisfaction level Sig. (2-tailed) .225 N 80 80 Interpretation From the above table 2 it is inferred that there is a significant negative relationship between Value of investment and Satisfaction level. There is a chance that the result might be the same when the calculation is done for the entire population. II. FINDINGS, SUGGESTIONS AND CONCLUSION  Research done also has a view that investors are ready take risk on part of real investments compared to other types in market this is due to the markets strategy and mindset of investors.  The correlation test was applied to find whether there is any significant relationship between Value of investment and Satisfaction level. The result shows that there is a significant negative relationship between Value of investment and Satisfaction level. There is a chance that the result might be the same when the calculation is done for the entire population.  From chi square test made it can be inferred that there is no significant relationship between the age factor and choice of investment. Actual p is equal to .154 is higher than the assumed value of .05. III. SUGGESTIONS  The number of awareness campaign must be made more to increases the rate of awareness among public in backward areas to educate the investment and its importance to the public.  The investors should be provided with all resourceful information about the schemes of investment to expect the proper outcome from the investment that is made through different channels of investment in the market.  The investors do not have any awareness about the rising inflation rate in the economy which is regarded has a high risk or threat to the nation, so they must also be given scope towards such subjects which could affect the investments of a nation. IV. CONCLUSION The study made has clearly revealed the fact that there is a insignificant relationship between the demographic factors and choice, value of investment. Though in a general overview of financial management or investment management that say that there is a significant relationship between the demographic factor and the choice and value of investment it is not been the same case here in the study made over the sample respondents this may be due to the narrow view of individual and other similar constrains that they have felt during the time of answering the questions those are framed and enclosed in the annexure part of the study and also it is due to the number of youth population in the sample size who does not give much care about the question asked and does give as opinion only on general and particular basis. So thus in short it can be said that the study made ha a adverse view over the general view of investment affecting factors. V. REFERENCES 1. Dusenberry. (1949).“The study made on the savings and investment relationship accordance to the income level of investors”Retrieved From http://shodhganga.inflibnet.ac.in/hdl.handle.net/10603/74771. 2. The National Council of Applied Economic Research. (1961).“The study on the individual’s savings in real assets is dominated during the period 1948-51 to 1951-56”Retrieved From http://shodhganga.inflibnet.ac.in/hdl.handle.net/10603/74771. 3. Somasundaram. (1998).“The study made over bank deposit and chit fund are the well known method of savings in the market among the investors”Retrieved From http://shodhganga.inflibnet.ac.in/hdl.handle.net/10603/74771 4. N.geetha and M.Ramesh. (2012).“The study on the individual’sdemographic factor impact over the investment choice “Retrieved From http://shodhganga.inflibnet.ac.in/hdl.handle.net/10603/74771. 5. Dr.Dhirajjain and Mr. Nikhil mandot. (2012).“The study on the individual’sdemographic factor compared with the quantum of risk in Rajasthan”. Retrieved Fromhttp://shodhganga.inflibnet.ac.in/hdl.handle.net/10603/74771.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY OF COMPARATIVE ANALYSIS OF INDIAN TELECOM SECTOR WITH SPECIAL REFERENCE TO (AIRTEL, JIO, VODAFONE, IDEA, BSNL) IN CHENNAI S. RAMESH ARAVINDH Final year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai 04 ABSTRACT Our Indian telecom sector is one of the fastest growing sectors in the world. It has the second largest telecom network in the world. In this research paper, special emphasis has been laid over the comparative analysis of telecom companies AIRTEL, JIO, VODAFONE, and IDEA AND BSNL by using primary sources of data in Chennai City. The aim of the research is to identify the factors associated with users to prefer the network they want and their satisfaction level towards their network in Chennai City. This research has been conducted by collecting responses through questionnaire from the people of Chennai district of Tamil Nadu. The data have been obtained from 150 respondents. The collected data has been analyzed with the help of SPSS 16 software. The findings revealed that, most of the respondents are students and they prefer Airtel generally for its Data Quality and for its flexibility of plans. From the research it is revealed that the satisfaction level of the respondents towards all the network operator is high. But the study suggests from its analysis to improve the network coverage, reduce call drops and to reduce the rate of the recharge packs. The majority of the respondent’s request is towards the network providers is to call off the compulsory recharge plans because it affects the life of the common people. Key Words: Indian telecom sector, Comparative Analysis, TRAI, SPSS 16. I. INTRODUCTION In the competitive world, telecom industry is most profitable and developing industries of the world. Different forms of communication media such as smart phones, internet, Wi-Fi, broad band services are default in communication industry. It creates remarkable changes in the minds set of consumers, business entities, legal framework, ideologies of entrepreneurs, philosophy of the government‟s policies and procedures. Since the telecom operators continues to focus on providing consistent and high quality and consistent experience by offering the wide coverage and best speed of the network which is expected by the customers. The network companies want to know the preference and buying behavior of the customers of the network providers must develop the promotional method to survive in the current competitive market. The healthy competition between the different mobile network service providers create the mobile number portability, value added service, voice message, SMS, Extra mobile data, Netflix premium, Amazon prime membership, Flexible plans, complimentary subscription to Network providing Applications and etc. It is the main problem faced by the organization. In this situation it is the main objective for every organization to identify the consumer preference not just only by the services but also by reaching beyond the expectations of the consumers. So, the study attempts to observe the comparative analysis of mobile network user‟s preference towards the mobile service provider in Chennai city. Review of Literature 1. Jio’s Digital Life- A Survey” By Ms. Indumathy, Ms. Reshma Rajkumar, Mr. Velmurugan (2017) In this study the authors identify the factors which make the users to prefer reliance join in Coimbatore and what factors made them to influence jio. The author analyzed the data using SPSS 16 software. The questionnaire covered about demographic profile and based on network coverage. The study tells that the satisfaction level of the respondents is excellent except network coverage of the jio. The author suggest to improve the network coverage. 2. Customer’s Satisfaction Towards Reliance Jio Sim With Special Reference to Dharmapuri District” By C. Boobalan and K. Jayaraman (2017) The authors in this study determines the customer satisfaction on reliance jio network in Dharmapuri district and find out their satisfaction level of their network. They collected data through a questionnaire on the method of random sampling method and analyzed through SPSS 16 software and they used chi-square, t-test, and percentage analysis. The author found that the Indian telecom industry is the main industry where as equipment manufacturers are witnessing its growth and there are 468 jio users in Dharmapuri district. 3. Study on Impact of Reliance JIO on the Indian Telecom Industry By Noorul Haqn (2017) The author NOORUL HAQ in the study analyses the impact of launching of JIO in the Indian Market on the customers and other players in the market. Among all these the temporary impact of the Jio in the present conditions as well as the future prospects have also been analysed to understand the impact purposefully.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 4. Changing The Indian Telecom Sector: Reliance Jio” By Kr Mahalaxmi And Suresh (2017) In this study the researcher KR Mahalaxmi and Suresh titled revealed that the promotional offers of JIO enables more customers to prefer and majority [97 per cent] of the respondents were satisfied with the services of Jio. Research Gap There are numerous studies are conducted to assess the service quality, customer satisfaction and customer preferences to the mobile networks and its various aspects. But the present study is unique in nature because it is conducted especially in CHENAI city with the aim to identify the customer preference of the selected mobile network service providers and also to analyse the factors influencing to select a particular mobile network by the customers. Objectives of the Study 1. To identify whether there is any association between change of network and reason for changing using Chi-square Test in SPSS 16 Software. 2. To identify that is there is any association and influence between customer satisfaction levels and age and gender towards different networks using Chi-Square Test and Anova Test in SPSS 16 Software. 3. To find out that there is any influence between customer satisfaction and price paid by the customer towards the network, factors considered while choosing a network and the occupation of the customer using Regression Analysis in SPSS 16 Software. 4. To find out which network satisfies all the emerging needs of the consumer and which is the best network provider in Chennai city among all the common people using Frequency Analysis in SPSS 16 Software. 5. To give findings suggestion and conclusions. Research Hypotheses The statistical test which is used to determine sample of data stands true for the entire population or not is known as Hypothesis Testing. H0: There is no association between age of the customer and satisfaction level of the customer. H0: There is no association between monthly income and monthly expenditure on mobile phone. H0: There is no association between change of network and reason for changing. H0: There is no relationship between Gender and Factors considered while choosing a network. H0: There is no significant influence between customer satisfaction and the price paid by the customer. H0:There is no significant influence between factors considered while choosing a network and the occupation of the customer. Limitations of the Study  The sample size was limited to 150 only  Due to time and cost constraint study is conducted in only selected area of Chennai city hence the results may not be true comparison for other geographical areas  Lack of time availability of completion of the research. Data Collection The study is based on primary data collected through the questionnaire through Google forms in CHENNAI CITY and the sample size of the study is 150 respondents. The data collected has been analysed by using SPSS software where in chi-square, Regression, Anova, Mean Analysis and Frequency Analysis Analysis and Interpretation Hypothesis-1 H0: There is no association between age of the customer and satisfaction level of the customer. Table 1 Chi-Square Test Between Age of the Customer and Satisfaction Level of the Customer Particulars Value df Asymp. Sig. (2sided) 3 .615 Pearson Chi- 1.802a Square Source: Primary Data

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

Chart 1 Age and Satisfaction Level of the Customers

Interpretation The above Table 1 and Chart 1 shows the value of chi square and its significance level. It is clear from the table that the significant value 0.615 is greater than 0.05. The Null Hypothesis is accepted. Hence it is inferred that there is no association between age and the level of satisfaction of the customer over the network providers Hypothesis-2 H0: There is no association between monthly income of the customer and their monthly expenditure on mobile phone with the usage of networks. Table 2 Chi-Square Test between Respondent’s Monthly Income and Expenditure on Mobile Phone With the Usage of Network. Particulars

Value

df

Pearson ChiSquare

1.454E 2a

9

Asymp. Sig. (2-sided) .000

Source: Primary Data Chart 2 Income and Expenditure of the Respondent on Mobile Phone with the Usage of Network

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation From the above Table 2 and Chart 2 shows that the calculated value is less than the table value (.000<0.05). The hypothesis is rejected. Hence there is an association between monthly income of the customers and their monthly expenditure on mobile phone recharge Hypothesis-3 H0: There is no association between change of network and reason for changing. Table 3 Chi-Square Test between Change of Network and Reason or Changing Particulars Value Df Asymp. Sig. (2-Sided) Pearson Chi-Square 53.987a 15 .000 Source: Primary Data Interpretation From the above Table 3 it is clear that the significant value0.000 is less than 0.05. Hence null hypothesis is rejected and it is inferred that there is a significant association between change of network and reason for changing. Hypothesis-4 H0: There is no significant influence between customer satisfaction and the price paid by the customer. Table 4 Regression Between Price Paid By The Customer And Satisfaction Levelof The Customer Model

Unstandardized Coefficients B Std. Error 1.008 .094 .105 .045

Standardized Coefficients Beta

t

Sig.

10.710 .000 (constant) .188 2.335 .021 Price Paid by the Respondent Source: Primary Data Interpretation The above Table 4 shows the value of correlation & its significant level. It is clear from the table that the table the significant value 0.021 which is lesser than 0.05. Hence null hypothesis is rejected. Hence it is inferred that customer satisfaction influences the price paid by the customer. Accept the Alternate hypothesis. Hypothesis-5 H0: There is no significant influence between factors considered while choosing a network and the occupation of the customer 1

Table 5 Regression Analysis Betweeen Factors Considered while Choosing a Network and Occupation of the Customer. Model Unstandardized Standardized T Sig. Coefficients Coefficients B Std. Error Beta 1.488 .233 6.393 .000 1 (Constant) .198 .033 .439 5.938 .000 Factors Considered While Choosing A Network Source: Primary Data Interpretation From the above Table 5 it shows the value of β & its significant value 0.000. It is clear from the variable such as occupation and factors influencing while choosing a network have a significant value which is less than 0.05. Hence its null hypothesis is rejected. And hence there is a significant influence between factors considered while choosing a network and the occupation of the customer. Hypothesis-6 H0: There is no relationship between Gender of the customers and Factors considered while choosing a network

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table 6 An nova Test Between Gender of the Customer and Factors Considered while Choosing a Network Sum of Mean Particulars Df F Sig. Squares Square Between 170.941 3 56.980 84.959 .000 Groups Within 97.919 146 .671 Groups Total 268.860 149 Source: Primary Data Chart3 Factors Considered While Choosing A Network

Interpretation The above Table 6 and Chart 3shows the value of F is 84.959 and its significant value is 0.00. It is clear from the above table that significant value is less than 0.05. Hence reject the null hypothesis and there is difference between Gender of the customer and Factors considered while choosing network and shows the factors considered while choosing a network. And it shown that majority of the respondents consider data quality, flexibility of pans, call quality, cheapest rates and customer service. II. FINDINGS  It is very clear from the survey that majority of the respondents feel that rather than call quality data quality is very essential factor for choosing a network, and followed by cheapest rates, call quality, flexibility of plans, customer service and others.  From the survey it is inferred that there is no association between age and the level of satisfaction of the customer over the network providers.  From the research analysis it is clear that there is an association between monthly income of the customers and their monthly expenditure on mobile phone recharge.  From the survey It is inferred that there is no relationship between Gender of the customer and Factors considered while choosing network  From the research surveyit is inferred that customer satisfaction influences the price paid by the customer.  From the survey it is clear that there is a significant influence between factors considered while choosing a network and the occupation of the customer.  From the survey it is analyzed from the mean analysis that majority of the respondents agrees with that statement of choice about the best network that AIRTEL is the best network.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 

From the survey the basis aim is to provide the ranking to the network companies on the basis of factors influencing them to buy  It is found that respondents gave 1st Rank to AIRTEL, 2nd Rank to JIO, 3rd Rank to VODAFONE, 4th Rank to BSNL, and 5th Rank to IDEA. III. SUGGESTIONS Based on the analysis and findings, the following recommendations were made  Telecommunication firms should offer more quality products and services that will communicate the merits of their products and services in the minds of consumers and influence their attitudes towards them.  Complaint and Suggestion Box System help a customer-oriented organization to serve its customers better. Telecommunication firms‟ employees should be well trained on how to handle customers‟ complaints and provide solutions to them immediately. Customers should be treated like „kings‟ and „queens.  The female respondents that the network provider must provide various plans special to women‟s like toll free number in case of emergency and also various attractive plans.  The compulsory recharge scheme must be stopped because it is good only to network providing companies and it is like a heavy barrier to the poor people so the network providers must cancel that compulsory recharge of Rs. 26, RS. 35 immediately and they should not cut incoming calls if they not recharge and they should give prior notice like SMS, or voice call and inform them.  So, majority of the respondents suggest to the networks like AIRTEL, JIO, VODAFONE, IDEA, BSNL is that the net speed must be increased, the cost of plans must be reduced, call without any app support like JIO subscribers cannot call without JIO VOICE, call quality must be increased and the most valuable suggestion is that call off the Compulsory recharge scheme.  These are the major suggestion that the respondents told. IV. CONCLUSIONS The Research study report on Study of Comparative Analysis of Indian Telecom Sector with special reference to [AIRTEL, JIO, VODAFONE, IDEA, BSNL]. Thus, the study is very helpful in choosing the best network provider. On the basis of factors determined like data quality, call quality, data plans, cheaper rates, other valuable offers like Netflix, amazon prime and etc. We have arrived to the conclusion that majority of the respondent told that AIRTEL is the best network because of DATA SPEED and flexibility of plans and various offers like #airtel Thanks. The research study which is highly useful in me under graduate as well as for my career also. I have improved my communication skills through the field study report. I have developed certain knowledge about the telecommunication sector. V. REFERENCES 1. MS. INDUMATHY, MS. RESHMA RAJKUMAR, MR. VELMURUGAN (2017) “JIO‟S DIGITAL LIFE- A SURVEY” International Journal of Recent Engineering Research and Development (IJRERD) Volume No. 02 – Issue No. 05, ISSN: 2455-8761 www.ijrerd.com, PP. 71-74. http://www.ijrerd.com/papers/v2-i5/part-III/9-IJRERD-B279.pdf 2. C. BOOBALAN AND K. JAYARAMAN (2017)CUSTOMERS‟ SATISFACTION TOWARDS RELIANCE JIO SIM WITH SPECIAL REFERENCE TO DHARMAPURI DISTRICT ICTACT JOURNAL ON MANAGEMENT STUDIES, AUGUST 2017, VOLUME: 03, ISSUE: 03http://ictactjournals.in/paper/IJMS_Vol_3_Iss_3_Paper_2_547_552.pdf 3. NOORUL HAQ “STUDY ON IMPACT OF RELIANCE JIO ON THE INDIAN TELECOM INDUSTRY” (2017) Volume-7, Issue-3, May-June 2017 International Journal of Engineering and Management Research Page Number: 259263http://www.ijemr.net/DOC/ImpactOfRelianceJIOOnTheIndianTelecomIndustry.pdf 4. KR MAHALAKSHMI, SURESH “CHANGING THE INDIAN TELECOM SECTOR: RELIANCE JIO”(2017) International Journal of Advanced Research and Development ISSN: 2455-4030, Impact Factor: RJIF 5.24 www.advancedjournal.com Volume 2; Issue 2; March 2017; Page No. 62-64. https://www.google.com/search?rlz=1C1RLNS_enIN803IN803&ei=uRx9XK70LsTMvgSotbiQAQ&q=ch anging+the+indian+telecom+sector++reliance+jio+by+kr+mahalaxmi+and+suresh&oq=changing+the+ind ian+telecom+sector++reliance+jio+by+kr+mahalaxmi+and+suresh&gs_l=psyab.3...5009.19073..19340...1.0..0.552.552.5-1......0....1..gws-wiz.....6..35i39.-F61Hcm9yfQ WEBSITES 1. https://www.geckoandfly.com/13143/50-things-smartphone-replacedwill-replace-future/ 2. Press releases on subscriber data, DECEMBER. Telecom Regulatory Authority of India. www.trai.gov.in 7 3. http://www.livemint.com/Opinion/N1PfDasVBd2na99MWQX8aP/TheReliance-Jio-challenge.html.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY OF FACTORS INFLUENCING THE PURCHASE OF NEW MOTOR VEHICLES WITH SPECIAL REFERENCE TO PASSENGER CARS IN CHENNAI CITY R. ADHITHYA Final year, Department of Accounting and Finance, Ramakrishna Mission Vivekanada college Evening college (Autonomous), Mylapore, Chennai-600004. ABSTRACT The Automobile industry in India became the 4th largest in the world with sales increasing 9.5% yearon-year to 4.02 million units in 2017. India is also a prominent automobile exporter and has strong export growth expectations for the near future. Automobile exports grew 20.78% during April-Novembers 2018. As number of leading global automobile companies entered with joint venture. Competition becomes tough between the companies. They started providing various value added services to attract the customers. So, the customer’s decision making become complicated. Hence this study makes an attempt to identify the factors that are influencing the customers while making purchase decision through primary data collected through questionnaire. Various hypotheses was created and tested. It has been identified that the customers were mainly focused on performance, technical features of the car. Keyword: Automobile Industry, Purchase decision. I. INTRODUCTION India is the 4thlargest exporter of passenger car and 6th largest producer in the world. Japan occupies first followed by Korea and Thailand. KPMG’s prediction that the automobile production will increase by 20-30% in 2018. Passenger car is defined as” motor vehicles with at least four wheels, used for the transport of passengers and comprising no more than 8 seats in addition to the driver’s seat”. II. OBJECTIVES OF THE STUDY The main objectives of this study are as follows: 1. To analysis the consumer preference towards purchase of new passenger vehicles. 2. To identify, evaluate and examine various factors that have influence on consumer preference. 3. To identify whether high rate depreciation have any impact on consumer’s preference. 4. To analysis whether consumer have ignorance while purchasing new motor cars. Review of Literature 1. Rajneesh Suri and al (2003) explains that the brand plays a major role to the consumer to identify the provider of a product or a service. Brand simplifies the purchase process and also reduces the perceived risk that involved in the purchases process. So, Brand acts a medium for the consumer to reach the product or service provider. Every consumer evaluates their product before buying; but Brand helps in reduce and simplifying the evaluation process. 2. Evans Joel. R. and Bergmann Barry (2004), Marketing Sixth Edition, United States of America, Macmillan Publishing company, in his books wrote about the purchase decision. He considers purchase decision as the selection of the best alternative in which a consumer is ready for buying act, to make an exchange of money and product or services. This implies the willingness of consumer to get the products or services for a consideration. Thus, it is clear that the purchase decision is a process of deciding to buy the product. 3. Ratier (2005) in his study showed the importance of the factors which have strong impact in purchase decision through the qualitative study. He also further explained factors of decision that mainly linked such as the characteristics of use (reliability, comfort, security, performance economy in use and the functionality), the psychological dimensions (especially the aesthetics of a car, finish, positives antecedents, by word of mouth), and finally the marketing’s variables (the price, brand image…etc.). He had conducted his study to the French consumers across 14 brands. He concluded those cause of the choice of the brand as factors of purchase decision. 4. According to Vanderlande and Gauthy-sinechal, 2006, a firm which aims at expertise, should evaluate its major intention, it should keep track on the way followed by buyer. In other words, Tracking the purchases decision of the buyer gives an overview to the firm which intent to maximize the sales. Product service and customer support after the sales helps in improving the purchase decision of the buyer in future. 5. D’Astous and al (2006) has the view that the brand acts as major factor while the consumer evaluates the purchase decision. Brand creates a good image about the product in the mind of consumer. Most of the consumer prefer to buy known product than the unknown one. 14

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Research methodology Sampling method: Simple Random sampling Tools used 1) Frequency analysis 2) Mean analysis 3) ANOVA 4) Correlation 5) t-test Sample size: 50 respondents (primary data) Hypothesis H01 - There is no significant relationship between Buyers preferring car for social status and their buying behavior when their car has low mileage and high depreciation. H02 - There is no significant difference between the average view that Motor car loses its value rapidly and that a new motor car is bought due to rapid depreciation. H03 - There is no significant difference between mean of After sales services & Maintenance expenses Data Analysis & Interpretation: Importance given to the following factors by the Respondents Table 1 Descriptive Statistics R Factors N Mean Std. Deviation a1 Fuel consumption 50 4.72 .497 n Safety 50 4.66 .626 2 k price of car 50 4.62 .530 3 Driving comfort 50 4.40 .700 4 Maintenance expenses 50 4.18 .941 5 Power 50 4.12 .746 6 Availability of spare parts 50 4.06 1.038 7 Advancing technology 50 3.98 1.040 8 Loan payment facilities 50 3.96 1.142 9 1 Size-capacity 50 3.92 .778 0 1 Interior design 50 3.92 .986 1 exterior design 50 3.90 1.015 2 1 After sales services 50 3.82 .962 3 1 Resale value 50 3.78 1.055 4 1 Brand Popularity 50 3.56 1.013 5 Chart 1: Importance given to the following factors by the Respondents Interpretation Table 1 portrays the descriptive statistics results (i.e. Mean and Standard deviation) of 15 independent variables. From the descriptive table, the factors having highest mean indicate the higher importance given to them. The Respondents have given most important to Fuel consumption followed by Safety. Least importance is given to Brand popularity followed by Resale value. According to the statistical result obtained from the above table, Fuel consumption is an important factor that have major influence on the consumer behavior. Majority of the respondents indicated fuel consumption as main consideration when they decide to buy new motor car. The variation in Fuel consumption will influence the behavior of individuals to purchase the product. Correlation between Buyers preferring car for social status and their buying behavior when their car has low mileage and high depreciation. ➢ H0 – There is no significant relationship between the variables ➢ H1– There is significant relationship between the variables. The following table illustrates the correlation between Buyers preferring car for social status and their buying behavior when their car has low mileage and high depreciation.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

Table 2 Correlations

Particulars

Test Pearson Correlation

Purchasing a car can raise social status

Despite low mileage and high depreciation, buying the motor car can increase the social status .541**

Purchasing a car can raise social status 1

Sig.(2- tailed) .000 N

Pearson Despite low mileage and high Correlation depreciation, buying the motor Sig.(2- tailed) car can increase the social status N

50

50

.541**

1

.000 50

50

Interpretation From the above Table it is clear that Level of significance of both variables fall under 0.1 hence they are strongly correlated. The Null hypothesis(H0) is rejected. It can be concluded that people who buy motor car for the purpose of raising their social status will buy car in spite of having Low mileage and high depreciation. Motor car loses its value in 2 to 3 years, due to rapid lose in value of motor car, another motor car is to be purchased to replace it. ➢ H0 – There is no significant difference between means of two variables. ➢ H1 – There is significant difference between means of two variables. Table 3 ANOVA Sum of Squares

Df

Mean Square

Between Groups

3.320

4

.830

Within Groups

40.860

45

.908

Total

44.180

49

16

F

Sig.

.914

.464

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation From the above table it can be observed that the level of significance is not under the alpha (0.05). Hence the Null hypothesis cannot be rejected. So, it cannot be proved that the buyers will replace the old cars when it loses its values irrespective of their feeling that their car will lose its value in 2 to 3 years. This is because of there is no statistical difference between the means of the above-mentioned variables. Fuel consumption & Advancing technology ➢ H0 – There is no significant difference between means of two variables. ➢ H1– There is significant difference between means of two variables. Table 4 Paired sample t-test Paired Differences

Mean

Std. Deviation

Std. Error Mean

95% Confidence Interval of the Difference Lower Upper

t

Df

Sig. (2- tailed)

Fuel consumptio Pair n Advancing .740 1.157 .164 .411 1.069 4.522 49 .000 1 technology Interpretation As the significance level is below alpha (0.05), it can be inferred that there is a significant difference between the means of the variables. Hence Null hypothesis can be rejected. It can be concluded that there is a significant difference between fuel consumption and Advancing technology. III. FINDINGS OF THE STUDY  The Respondents have given highest priority to Fuel consumption as a factor while Analyzing purchase decision.  People who buy motor car for the purpose of raising their social status will buy car in spite of having low mileage and high depreciation.  The Respondents will not replace the old cars when it loses its values irrespective of their Feeling that their car will lose its value in 2 to 3 years.  There is a significant difference between fuel consumption and Advancing technology. IV. SUGGESTIONS It is found that in this survey that the important features considered by the customers while buying a car are fuel consumption, safety and Price of car. So manufacturer has to consider these aspects to attract and retain customers thus making an effort to build a good brand image.Since Most of the respondents use the car for personal and family purpose, manufacturer should consider it as a factor and offers features that are compact for them. As depreciation have great impact on reducing the value of the motor car, Manufacturer should take necessary steps to restore the value of the motor car. V. CONCLUSION From the study, it can be concluded that consumer do not have ignorance while purchasing new motor cars. Due to their needs and preferences they purchase the motor car. Different factors have different impact on consumers, but some of them have common impact and those factors (fuel consumption, safety, price) have greater influence on the purchases decision. Consumers are aware about the higher rate of depreciation and its impact on the value of motor car. Their purchase decision also includes examination of depreciation as a factor. VI. REFERENCES 1. Bobra, Chinmay (September 2, 2016) A study of consumer behavior towards Maruti cars https://www.scribd.com/document/324386466/Consumer-Behaviour-towards-Maruti- Suzuki-Cars 2. (October,2018)Automobile Industry in India https://www.ibef.org/industry/indiaautomobiles.aspx3) Barrett, J., Lye, Ashley and Venkateswarlu, P. (1999). Consumer Perceptions of Brand Extensions: Generalizing Aaker and Keller's Model, Journal of Empirical Generalizations in Marketing Science, Vol. 4. 3. 4) Agawam, S. and Teas R.K. (2002). Cross-national applicability of a perceived quality model, Journal of Product and Brand Management, Vol. 11, No. 4 4. 5) Hossein Mirzae & Mehdi Ruzdar. The impact of social factors affecting consumer behavior on selecting characteristics of purchased cars

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON BRAND EQUITY ANALYSIS WITH SPECIAL REFERENCE TO NOKIA IN CHENNAI B. SIDDHARTH Final Year, Department of Accounting & Finance Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai-04 ABSTRACT In the past Nokia has been the industry leader when it comes to the mobile phone industry. But, ever since the introduction of smartphones Nokia really struggled to compete in the market. This followed by the acquisition of Microsoft almost killed the brand completely. However, in the year 2016 the company was revived back by a new company formed by old Nokia executives called HMD Global. Since the acquisition HMD Global has tried to right all the wrongs made in the past and bring back Nokia to where it was back in the day. Hence, it is now a very good time to analyse the Brand Equity of the new Nokia two years since the acquisition. Key words: Brand Equity, Nokia I. INTRODUCTION Marketing simply stated is the way companies and firms try to create awareness for their products and attract them to buy their products over those of others.Brand equity is one of the way in which companies can evaluate their marketing efforts and evolve their strategies in order to succeed in getting customers to buy their products. Hence, analysis of brand equity is a very important aspect of a company’s controlling measures.For thispurposea Consumer Based Brand Equity (CBBE) has been used to evaluate the Brand Equity of Nokia. II. OBJECTIVE OF THE STUDY  To analyse the brand equity of Nokia mobiles in Chennai  To know the awareness of brand equity in Chennai  To suggest ways in which Nokia can improve to compete in the current market Research Methedology The study was conducted with the help of a Consumer Based Brand Equity (CBBE). A questionnaire was circulated among 120 people in Chennai city in order to conduct the study. Questionnaires were aimed to identify Brand equity based on four components- Brand Awareness, Brand Preference, Brand Loyalty and Perceived Quality. The responses were analysed based on various statistical tools which include Frequency analysis, Mean analysis, Chi- Square and Regression and also a bar chart. Limitations of the Study The main limitation of the study is that it only deals with the brand equity of Nokia in Chennai city. The sample size is also restricted to 120 respondents and the results could change if a bigger sample size is chosen. It must also be noted that the study only looks at four of the components of Brand Equity Review of Literature 1. The Impact of Brand Equity On Customer Acquisition, Retention, And Profit Margin, By (Florian Stahl, Mark Heitmann, Donald R. Lehmann&Scott A. Neslin) (2011) The authors of this research look at the impact of brand equity on the various factors of Customer Lifetime Value based on their three important factors. The findings show that brand equity is indeed significantly related to al the three factors customer acquisition, retention and profit margin. 2. Brand Equity Analysis Of Nokia Mobile Phone By (K.C.Prakash& P.Paramasivam) (2013) The authors of this research have attempted to analyse the brand equity of Nokia while considering the entrance of cheaper brands in the market such as Micromax, Samsung, Karbonn. The results show that most of the indicators seem to be positive and show a good brand equity. 3. The Relationship of Brand Equity Dimensions: A Case Study of Samsung Brand in Thailand By, (Zhang Jing, Chatchai Pitsaphol, Rizwan Shabbir) (2014) The authors of the study aimed to study at the dimensions of brand equity and their impact on Samsung mobiles which was the leading smartphone brand of that time. The findings showed that components of brand equity such as brand image were the ones that created the most amount of brand loyalty. Perceived quality was also a factor that resulted in creation of brand loyalty though not as strong as brand image. 4. Determinants of Brand Equity: An Empherical Study of it Industry, By (Muhammad Fahid Muqaddas & Ishtiaq Ahmad) (2016) The authors of the research look at the effect of factors such as Research and Development, profitability and marketing on the brand equity of that particular IT company. The findings showed that research

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

and development was the only factor which did not have an impact on the brand equity of the company while other factors had an impact on them. 5. Role of Brand Equity and Brand Identity on Preferences of Smartphones Among Students, By (Dr. M. Jyothsna, Dr. S. Mahalakshmi, Mr. P. Naga Sandeep) (2016) The authors of the research aimed to look at how the various components of brand identity and brand equity factors influence their decision in preference between Apple and Samsung smartphones. The result shows that as a brand Apple seems to have a higher brand equity when compared to Samsung. Perceived quality was an area were Samsung failed in competition to Apple. Company Profile of Nokia Nokia is a Finnish company which deals mainly with consumer electronics, telecommunication and information technology. It was founded in 1865 and has its headquarters in Espoo, a place in Finland. Between the 1990’s and the early 2000’s Nokia dominated the mobile phone industry with a focus on unique design and robust build which made the phone very durable. Everything changed for the company in the year 2008 with the introduction of smartphones. Nokia had two choices, either to join the Android system which was much popularised in the market by the likes of Samsung or continue with its own operating system that they had created. But their CEO at that time Stephen Elop took a third option. Elop had desires of taking the helm at Microsoft in which he previously worked. At that same time Microsoft wanted to enter into hardware part of mobile phones as well. Hence, Elop saw this as an opportunity and negotiated a deal which lead to Microsoft taking over Nokia. This deal turned to be a disaster as the objectives of both the companies were not achieved instead, they ended up with a lose- lose situation. In the end Microsoft rebranded its phones to Microsoft after failing to compete with others. On May 2016 a new company called HMD Global made up of former Nokia executives bought the license for Nokia from Microsoft. This company is looking to right the wrong that Nokia initially made under Elop, and started making its own phones with Android. Analysis and Interpretation Brand Equity Awareness Chart 1

Components of Brand Equity awareness Percieved Quality Brand Loyalty Brand Awareness Brand Preference 0

20

40

60

80

100

Source: Primary Data Interpretation: Though many people are aware of brand equity, there is a lack of awareness among the respondents on its various components. So more awareness must be created through education institutions. Brand Equity of Nokia Brand Awareness Table 1 The Nokia brand is owned by Microsoft * Which platform is Nokia functioning under Crosstabulation Which platform is Nokia functioning under

Cross Tabulation

The Nokia brand is owned by Microsoft

Total

Android

Microsoft

True

29

38

67

False

39

14

53

Total 68 52 Source: Primary Data H0: There is no association between awareness of ownership and the operating systems

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

H1: There is an association between awareness of ownership and the operating system TABLE 2 Asymp. Value Df Sig. (2sided) Pearson Chi-Square 11.065a 1

.001

Source: Primary Data Interpretation It can be inferred from Table 1 and Table 2that most people are not aware about the change in ownership in Nokia and this has caused some of them to not know about their change in operating system as well.So there is a need for the company to create awareness about them. Hence H1 applies. Brand Preference Table 3 Age * Which of the following brands would you prefer from the following Crosstabulation Which of the following brands would you prefer from the following

Age

Total

15-25

Xiaomi 34

Vivo 5

Nokia 12

Oppo 2

Samsung 27

80

26-39

8

0

5

2

5

20

40-50

2

1

3

0

8

14

Above 50

1

0

4

0

1

6

Total 45 6 24 4 41 120 Source: Primary Data Interpretation: In terms of preference Nokia is the 3rd most preferred brand by consumers.Some of the old brand name is still present. Brand Loyalty Table 4 Statistics If given a I have I would buy I would I regard I would be chance I blind Nokia phones recommend Nokia as ready to pay a would switch trust even if they Nokia to my value for premium for to a Nokia over the increase in friends money the brand mobile brand price Mean 1.96 1.77 1.53 2.05 2.08 2.48 Source: Primary Data Combined Mean = 1.98 Interpretation On the whole people seem to be neutral towards brand loyalty. It has reduced from where it was in the past but some level of loyalty still remains. Percieved Quality Table 5 Statistics Nokia has Nokia products have Nokia products are Nokia products have great great software very durable great hardware design 120 120 120 120 N Valid 1.73 1.51 1.79 1.37 Mean Source: Primary Data Combined Mean = 1.6

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

Interpretation On the whole people are not that happy with the overall quality of the products. Regression analysis to understand reason for people not wanting to switch to Nokia H0: Quality features of the product do not influence the decision of people to switch mobiles H1: Quality features of the product influence the decision of people to switch mobiles TABLE 6 Co-efficient Model

Unstandardized Coefficients

Standardized Coefficients

T

Sig.

B .134

Std. Error .080

Beta .145

1.671 .097

Nokia products have great software

.028

.102

.025

.272 .786

Nokia products are very durable

.358

.100

.328

3.579 .001

Nokia has great design

Nokia products have great .242 .104 .207 2.335 .021 hardware Source: Primary Data Interpretation The analysis shows that Durability and Hardware are the two main factors that influence this. Other factors do not seem to have that significant of an influence on this. Hence H1 applies for these two and Ho applies for the other. III. FINDINGS ● Awareness of the term brand equity is quite good among the respondents however they are not completely aware of its components. ● Brand Awareness is an area where Nokia must improve a lot as people are not that aware of the brand’s latest changes in ownership, but the awareness of its product portfolio is good. ● Nokia no longer seem to be the preferred brand as it was a decade ago as newer aggressive competitors such as Xiaomi seem to be the most preferred brand, but Nokia still are the 3 rd most preferred brand among people. ● Brand loyalty is at a Neutral level among the respondents. Ideally it should be at agree to sustain in the market ● Perceived quality is also very low with most people disagreeing to Nokia being a quality product. Some people still feel that the products of Nokia are quite durable, but the matter of concern is the hardware and software and its integration. ● Overall there is a long way to go for Nokia before it can reach back to the prime position that it used to be in the past but they still have the foundations to succeed. IV. SUGGESTIONS  Bring products at a more competitive price to rival the likes of Xiaomi and continue its differentiation through design and durability of its products.  Spend more on different means of advertising to increase its awareness as a brand and also its product portfolio.  Focus more on its integration of hardware and software to provide a better experience to its customers so that they prefer Nokia over time.  Focus on building good service centres as this is an area where others have failed V. CONCLUSION In a world filled with Chinese manufacturers Nokia remains to be the only European company remaining. In the past they made some decisions that cost them, but now they are trying to right the wrongs they did and reclaim their position in the mobile phone industry.The residual brand loyalty that still remains can be used to succeed in the market. Some of the suggestions suggested may be used to improve their performance in the market VI. REFERENCES 1. Florian Stahl, Mark Heitmann, Donald R. Lehmann&Scott A. Neslin “The Impact of Brand Equity on Customer Acquisition, Retention, and Profit Margin”, https://www0.gsb.columbia.edu/mygsb/faculty/research/pubfiles/4920/impact%20of%20brand%20equi ty.pdf

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

K.C.Prakash&P.Paramasivam“Brand equity analysis of Nokia mobile phone ”, International Journal of Commerce and BusinessManagement,October 2013 3. http://www.researchjournal.co.in/upload/assignments/6_347-351.pdf 4. Zhang Jing, ChatchaiPitsaphol& Rizwan Shabbir “The Relationship of Brand Equity Dimensions: A Case Study of Samsung Brand in Thailand” ,European Journal of Business and Management, ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online) Vol.6, No.16, 2014 5. https://pdfs.semanticscholar.org/f101/1240b37d7d09aa0e55c03fa4ab99798a8b75.pdf 6. Muhammad FahidMuqaddas&IshtiaqAhmad “Determinants of Brand Equity: An EmphericalStudy of ITIndustry”, SEA- Practical Application of Science Volume IV, Issue 3(12)/ 2016 http://seaopenresearch.eu/Journals/articles/SPAS_12_18.pdf 7. Dr. M. Jyothsna, Dr. S. Mahalakshmi & Mr. P. Naga Sandeep “Role of Brand Equity and Brand Identity on Preferences of Smartphones among Students”, Pacific Business Review International Volume 8, Issue 11, May 2016http://www.pbr.co.in/2016/2016_month/May/7.pdf Other Reference 1. http://www.yourarticlelibrary.com/brand-management/brand-5-main-elements-of-brand-equityexplained/13691 2. https://www.gsmarena.com 2.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON CONSUMER BEHAVIOUR IN ONLINE SHOPPING WITH SPECIAL REFERENCE TO CHENNAI CITY SACHITH AGARWAL Final Year, Dept. of Accounting and Finance Ramakrishna Mission Vivekananda College, Evening College(Autonomous), Mylapore, Chennai-04 ABSTRACT At any given time, there are millions of people online and each of them is a potential customer for a company providing online sales. Due to the rapid development of the technologies surrounding the Internet, a company that is interested in selling products from its website will constantly have to search for an edge in the fierce competition. Since there are so many potential consumers, it is of the out most importance to be able to understand what the consumer wants and needs. This project aims to study the behaviour of such customers or even potential customers. Key Words: Online shopping, consumer behaviour, online sales/purchase I. INTRODUCTION Online shopping is a form of e-commerce which allows consumers to directly buy goods and services from a seller over the Internet using a web browser. Consumers find a product of interest by visiting the website of the retailer directly or by searching among alternative vendors using a shopping search engine, which displays the same product's availability and pricing at different e-retailers. As of 2017, customers have started shop online using a range of different computers and devices, including desktop computers, laptops, tablet computers and smart phones. Consumer behaviour is the study of how individual customers, groups or organizations select, buy, use, and dispose ideas, goods, and services to satisfy their needs and wants. It refers to the actions of the consumers in the marketplace and the underlying motives for those actions. Marketers expect that by understanding what causes the consumers to buy particular goods and services, they will be able to determine which products are needed in the marketplace, which are obsolete, and how best to present the goods to the consumers. II. OBJECTIVE OF THE STUDY • To find out the main factors that the online consumers take into consideration during online purchase. • To reveal the leading company in the online market space. • To identify the consumer‟s behaviour to ongoing trends in the current period. Statement of the Problem It is difficult for the online seller to identify the customers wants and needs, since potential customers are large in number. It is important to identify the factors that influence the customers to prefer online shopping. Therefore, the study is undertaken by the researcher. It is difficult for the online seller to identify the customers wants and needs, since potential customers are large in number. It is important to identify the factors that influence the customers to prefer online shopping. Therefore, the study is undertaken by the researcher. It is difficult for the online seller to identify the customers wants and needs, since potential customers are large in number. It is important to identify the factors that influence the customers to prefer online shopping. Therefore, the study is undertaken. Research Methodology The main source of data collected is primary data. I will attempt to find the main factors that influence the online consumer when making an online purchase. In order to broaden my own understanding of the subject I conducted my initial research in literature on consumer behaviour and e-commerce. I reviewed studies that had similar aims and paid attention to their results. The questionnaire was circulated through google forms to 111 people in Chennai city. Limitations to the Study • The area of study covers only Chennai city. • Today‟s findings may not hold true for the future. • The study was made up only for the users of online shopping. • Due to lack of time, this study is limited to only 111 samples. Review of Literature Ajzen (1994) performed a study on perception towards online purchasing, which revealed that perceptions toward online purchasing and intention to purchase online are not only affected by ease of use,

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 usefulness, and enjoyment, but also by other factors like consumer traits, situational factors, product characteristics, previous online purchasing knowledges, and trust in online purchasing. Jarvenpaa, Tractinsky and Vitale (2000) explore how consumers acknowledged store size and status to inspire their trust in risk perception, attitudes and willingness to purchase from the specific store. They realize that there is a positive correlation between consumer belief in internet stores and the stores supposed reputation and scope. Higher consumer belief correspondingly decreases perceived risks related to internet purchasing and produces more promising attitudes near to purchasing at a specific store, which in turn raises readiness to buying from store. Murray, (2001) In the US, says that online sales are forecasted to exceed $36 billion in 2002, and grow annually by 20.9 percent to reach $81 billion in 2006. Europeans are spending more money online as well. Whereas combined revenues for Amazon.com‟s European operations grew at more than 70 percent annually in each of the past three quarters, topping $218 million. While these figures show that a large number of consumers in the US and Europe frequently use the Internet for purchasing purposes, it is not certain what drives them to purchase online and whether these numbers could be even. Davis, (2002). Their study reveals that if more good-looking online stores were developed. This raises the issue of examining what factors affect consumers to purchase online. Therefore, a framework is required to structure the complicated system of effects of these different factors and develop an in-depth understanding of consumers‟ outlook toward Internet purchasing and their intentions to purchase online. This study reveals that we build up such a framework based on previous research on consumer adoption of new self-service technologies and Internet purchasing systems. The research suggests that consumers‟ outlook toward Internet purchasing first depends on the direct effects of relevant online purchasing features. Anita Desai (2003) in her study E-tailing is that the follow of commerce retail product on the web explores that e-marketing is that the reduced version of “electronic retailing” that primarily creates business to buyer business. While the idea of e-tailing isn't any longer in its budding stage; it remains to alter, as progressive e-commerce requests act as a powerful promoter in developing e- promoting. The idea of e- marketing differs from a diverse range of products and services as against direct purchasing experience. Therefore, etailing on-line promoting is simply not restricted to shoppers‟ purchase. As shoppers square measure intelligent, they'll take smart selections. This includes a fair price comparison, product research, and proving the credibility of the estore online purchasing. Data Analysis & Interpretation 1. Chi Square Test One  H0: There is no association between the two variables, Age of the respondents and whether they shop online.  H1: There is an association between the two variables, Age of the respondents and whether they shop online. Table No. 1 Chi-Square Tests Value df Asymp. Sig. (2sided) Pearson Chi-Square 16.821a 3 .001 Likelihood Ratio 18.680 3 .000 Linear-by-Linear 12.023 1 .001 Association N of Valid Cases 111 Interpretation The above Table no. 1 shows the value of chi square and its significant level. It is clear from the table that the significant value is less 0.05%. Hence it is inferred that there is an association between the two variables Age of the respondents and whether they shop online. That is we can accept the alternative hypothesis H1. 2. Chi Square Test Two  H0: There is no association between the two variables, Monthly income of the respondents and how often they shop online.  H1: There is an association between the two variables, Monthly income of the respondents and how often they shop online.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table No. 2 Chi-Square Tests Value df Pearson Chi-Square Likelihood Ratio Linear-by-Linear Association N of Valid Cases

27.222a 26.689 15.301 99

6 6 1

Asymp. Sig. (2-sided) .000 .000 .000

Interpretation The above Table no. 2 shows the value of chi square and its significant level. It is clear from the table that the significant value is less 0.05%. Hence it is inferred that there is an association between the two variables Age of the respondents and whether they shop online. That is we can accept the alternative hypothesis H1. ANOVA  H0: There is no difference between the two variables unattended avenues and portal preference.  H1: There is a difference between the two variables unattended avenues and portal preference. Table No. 3 Sum of df Mean F Sig. Squares Square Between 17.203 3 5.734 3.242 .025 Groups Within 169.787 96 1.769 Groups Total 186.990 99 Interpretation The above Table no. 3 shows the variable „F‟ and its significant value. It is clear from the table that the significant value is lesser than 0.05%. Hence it is inferred that there is a difference between two variables. That is we can accept the alternative hypothesis H1. III. FINDINGS • The online shopping is getting popular among the young generation as they feel it more comfortable, time saving and convenient. It is analysed from the survey that when a consumer makes a mind to purchase online goods he or she is affected by multiple factors. The main crucial identified factors are time saving, the best price and convenience. • People compare prices in online stores and then review all feedbacks and rating about product before making the final selection of product and decision. • The main barrier in the process of online shopping is the safety issue. • From the age of 15 to 21, online shopping is being more used as there is more influence of the internet generation, and online shopping has become an emerging trend among this age group to most of the online shoppers are employed therefore they have the necessary independence to shop online as most of them have different levels of income. • The online shopping is much easier mean of purchasing products, because in online shopping there is less physical movement of the consumer as products are being ordered and is being delivered at door steps. IV. SUGGESTIONS  The main concern to all consumers seem to be the safety factor. The online shopping companies, need to find better ways to gain the trust if the consumers.  With Amazon bringing in the “one day delivery” option, other companies also need to bring in such options to provide speedy delivery.  Personal touch is what all consumers look for when buying products. This is currently impossible in the online market. There needs to be a way that helps consumers have pre feel or touch so that there is a confidence at the time of purchase. V. CONCLUSION When a consumer purchases online, he or she is affected by various factors. The main influencing factors have been identified as Price, Trust, and Convenience. The Price factor exists because prices are often lower on Internet stores compared to physical stores due to lower costs. Purchasing online can greatly benefit the consumer in terms of convenience and saving money. It is also convenient to shop on various sites with different assortments, from the home. Trust is evidently needed since the consumer must share detailed personal

25

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 and financial information when purchasing online. These types of data include the full name, delivery address and credit card number for example, which makes trust an important factor. VI. REFERENCES Articles and Reports 1. A project report on consumer behaviour in online shopping in Aizawl by Anish Thomas (2013) 2. Mrs. Chithra Sharma- Consumer buying behaviour towards online shopping (2015) 3. Prof. Sanjay Kumar- Online Shopping (2015) 4. Dr. Amit Kumar Singh- Consumer behaviour in online shopping: A study of Aizawl (2014) Internet Sources 1. http://dictionary.reference.com/help/ahd4.html 2. https://en.wikipedia.org/wiki/Amazon_(company) 3. https://en.wikipedia.org/wiki/Online_shopping 4. https://en.wikipedia.org/wiki/Chi-squared_distribution 5. https://en.wikipedia.org/wiki/Analysis_of_variance 6. http://analogik.com/articles/227/analysis-of-consumer-behaviouronline 7. http://www.scribd.com/doc/171807012/Chapter-1

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON CONSUMER PREFERENCE AND PURCHASE BEHAVIOUR WITH REGARD TO SOFT DRINKS IN CHENNAI ASHISH VENUGOPAL Final Year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College Evening (Autonomous) Mylapore, Chennai – 04 ABSTRACT This study focused to find the consumer’s preference stimulate consumer’s buying behaviour of all soft drinks which consumed by ordinary consumers in Chennai. This study tested by using two main established variables which are consumer’s preference include four variable such as product, price, place, promotion and consumer’s buying behaviour include four variable such as culture of the respondent, Social factors, personal factors, psychological factors. The main objective was to evaluate the consumer’s preference and buying behaviour of soft drinks and the factors affecting it. This survey has been explored the level of influence of consumer’s buying behaviour. customer personal information which consists of gender, location of business, income level, brand, consuming period, preference and advertising media and also through research information which includes the dimensions of all variables. Information collected from around 100 samples in the areas inside Chennai for this study. Keywords: Consumer Behaviour, Customer Satisfaction, Brand Awareness I. INTRODUCTION It is stated by many Economist’s that India is the fastest growing economy in world. There is a wide range of ability to purchase and sell many products with ease. On the largely sold commodity is soft drinks, a consumable product. India is the second largest country as per the world population and is ideal place to market and run business. It is also observed that majority of India’s population is youth and children, it is this age group of consumers who consumes soft drink on regular basis and contribute for the sales of soft drink. This study is to observe and examine the behaviour of the consumer toward soft drink and to understand the factor that influence their behaviour to make a particular choice. In the late eighteenth century, researchers gained vital ground in repeating normally carbonated mineral waters. In 1767, Englishman Joseph Priestley previously found a strategy for injecting water with carbon dioxide to make carbonated water when he suspended a bowl of refined water over a lager tank at a neighborhood distillery in Leeds, England. His development of carbonated water (otherwise called soft drink water) is the major and characterizing segment of most soft drinks. Statement of Problem The problem of this study is to find out the relationship of consumer preference and consumer buying behaviour on soft drinks. The other purpose is to develop a better understanding of consumer preference and buying behaviour on soft drink and factors affecting it. This study is needful because every companies currently are running their business in high competitive market and is constantly changing environment to give more consideration on consumer preference and buying behaviour because they are kings in the market. II. OBJECTIVES 1. To understand consumer perception towards the soft drinks. 2. To understand the customer preference towards soft drinks 3. To understand relationship between demography of population and buying behaviour 4. To identifying the factors which influence the consumer preference with regard to soft drinks products. 5. To find out the satisfaction level of customers choosing soft drink Research Methodology 1. Primary Data – Questionnaire 2. Secondary Data – Journals, Websites, Books Sample Size A sample size of 101 has been taken into consideration Sample Area Data has been collected from different groups at the different areas of Chennai city Statistical Techniques Used 1. Frequency 2. Chi-square 3. Anova 4. Percentage analysis Limitations of the Study 1. Responses may change as some of people did not want to come with real answer. 2. Small sample size. 3. Personal preference of respondents limit the scope of study. 4. Survey is conducted only in Chennai hence results may not be generalized. 5. Time constraints

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

Review of Literature Tuorila and Pangborn, (1988) In his study the author mention the sensory attraction of a food product and the visual appearance of its packaging are powerful influences on consumer acceptability Linnerman et al., (1999) In his research the author mention there is an increasing demand for healthy and nutritional products as a magnitude of consumers being better educated and more demanding; which leads to a need for new products and a more separatedfood product assortment Deliza et al. (2003) In his research the author mention conducted a conjoint survey with one hundred and twenty five British consumers, to observe the expectations of packages of an unfamiliar fruit juice (passion fruit) using computer generated images. The respondents were presented with twenty four computer generated package images, on which six packaging factors were controlled (background colour, picture, information, brand, language and shape). According to the authors, substantial effects were found for each attribute; however, background colour and information were the most important. Solomon, Bamossy, Askegaard, & Hogg, (2010), Found out that consumer buying behaviour is a human behaviour with a procedure associating numerous events which involves analysing, feeling and behaving, as an individual address the existing needs. As a field of study, consumer behaviour is the science of studying a fixed of value- seeking activities in exchange of their existing resources such as; time, money and effort of consumers which is determined by addressing real needs. There are several definitions of consumer buying behaviour, however most of the definitions are comparable in scope. As stated by Solomon, consumer behaviour is the learning of process when individuals make selection, usage or disposal of products and services during purchase in order to meet their needs and fulfil their desires Kotler & Armstrong, (2012) Found out that consumers make different types of decisions in everyday life. The decision consumer makes while purchasing is the focal point that marketers try to study. In this competitive business world, it has become key for every organizations to put great effort on researching consumer buying behaviour to find out detailed information on what consumers buy, where, when and why they buy, how and how much they buy. Analysis and Interpretation Chi-Square H0: There is no association between income and selection of soft drink H1: There is association between income and selection of soft drink Table 1 Which of the Following Soft Drinks Will You Select Coca Cola Pepsi Sprite and Etc Tropicana Frooti Total Income Below 100000 Between 100000 - 300000

16

8

15

8

5

52

3

3

2

9

3

20

Between 300000-500000

2

0

5

10

4

21

Above 500000

0 21

1

3

0

4

8

12

25

27

16

101

Total

Table 2 Chi-Square Tests Value Pearson Chi-Square Likelihood Ratio Linear-by-Linear Association N of Valid Cases

29.477a 33.595 13.415 101

df 12 12 1

Asymp. Sig. (2sided) .003 .001 .000

Interpretation From the above table 2 it is inferred that the significant value is 0.003 and it is concluded that the significant value is less than 0.05. Hence null hypothesis is rejected therefore there is an association between income and the type of soft drink they select.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

Anova H0: There is no difference between the gender and selection of soft drink H1: There is no difference between the gender and selection of soft drink TABLE 3 Sum of Squares

Df

Mean Square

10.359

1

10.359

Within Groups

136.473

99

1.379

Total

146.832

100

12.033

1

12.033

Within Groups

108.323

99

1.094

Total

120.356

100

26.433

1

26.433

Within Groups

115.013

99

1.162

Total

141.446

100

19.850

1

19.850

Within Groups

110.190

99

1.113

Total

130.040

100

13.004

1

13.004

Within Groups

120.759

99

1.220

Total

133.762

100

Rate your satisfaction with these Soft Between drinks [coca cola] Groups

Rate your satisfaction with these Soft Between drinks [pepsi] Groups

Rate your satisfaction with these Soft Between drinks [sprite] Groups

Rate your satisfaction with these Soft Between drinks [frooti] Groups

Rate your satisfaction with these Soft Between drinks [tropicana] Groups

F

Sig.

7.514 .007

10.997 .001

22.752 .000

17.834 .000

10.661 .002

Interpretation 1.The above table 3 shows the value of frequency and its significant value it is clear for the table that significant value is less than 0.05 hence it is inferred that there is difference between gender and selection of coca cola. 2.The above table 3 shows the value of frequency and its significant value it is clear for the table that significant value is less than 0.05 hence it is inferred that there is difference between gender and selection of Pepsi 3.The above table 3 shows the value of frequency and its significant value it is clear for the table that significant value is less than 0.05 hence it is inferred that there is difference between gender and selection of sprite. 4.The above table 3 shows the value of frequency and its significant value it is clear for the table that significant value is less than 0.05 hence it is inferred that there is difference between gender and selection of frooti. 5.The above table 3 shows the value of frequency and its significant value it is clear for the table that significant value is less than 0.05 hence it is inferred that there is difference between gender and selection of Tropicana. III. FINDINGS After analyzing the response of the consumer interviewing through questionnaire and observation the following were found in the study.  The study shows that majority of the respondents are health Conscious and do not buy carbonated soft drinks.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

    

Advertisement plays important role in consumer buying decisions. Mostly consumers check for price, quality, availability and nutritional fact before buying. The most important finding is that all respondents are aware about the harmful affects Consumers knows that the canned juices are not as healthy as fresh juice The above table shows the value of frequency and its significant value it is clear for the table that significant value is less than 0.05 hence it is inferred that there is difference between gender and the branding factor for selecting a soft drink . Recommendations  The companies should reduce the use of preservatives.  Fruit juices are future of soft drinks and hence the focus on them should be more.  Availability and Brand image are the key factor for selecting the soft drink hence more focus is required in this area.  Try to make new taste of soft drink IV. CONCLUSION It is concluded that difference between the Factors i.e. Brand, Price, Taste, Packaging, Advertisement, Size, Colour, are significant. The companies are therefore, advised to give more importance on Services of Company factor while producing Soft drinks because consumers highly considered the Services of Company factor while purchasing Soft drinks whereas less emphasis on Retailer’s, friend’s and Relative’s advice because consumers considered little about the reference of shopkeepers, friends and relatives factor while purchasing Soft drinks. They are also advised to make different strategies for different parameters as they are showing different preference behavior. V. REFERENCES 1. https://en.wikipedia.org/wiki/Soft_drink 2. https://pdfs.semanticscholar.org/9291/0540e773c795b89a0dfad037ac0c7732b01f.pdf 3. file:///C:/Users/One/Downloads/142-843-1-PB.pdf 4. https://www.emeraldinsight.com/action/doSearch?AllField=consumer+preference+towards+soft+drink s&content=articlesChapters

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON CONSUMER PREFERENCE TOWARDS ROYAL ENFIELD WITH SPECIAL REFERENCE TO CHENNAI CITY S. BHARATH Final year, Department of Accounting & Finance Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai-04 ABSTRACT The purpose of this study on customer preference will help us to understand the requirements of the customers towards Royal Enfield. The study could provide appropriate information regarding the preference level of customer towards Royal Enfield. The objectives of this study are to analyze the customer preference and to find out the customer satisfaction level towards Royal Enfield bikes. This study also investigates the services and performance factors which influence the customers to purchase the Royal Enfield bikes. For this purpose, 100 customers were selected and obtained the various responses based on the questionnaire method. The result of the study reveals that ultimate users are the students and most of the customers are choosing Royal Enfield vehicles because of its brand image, comfort and vehicle appearance. Keywords: Consumer preference, Consumer Satisfaction, Royal Enfield, Chennai City I. INTRODUCTION (a) Royal Enfield India Royal Enfield India was established in 1955 when it started receiving 350cc bikes in kits from the UK and assembling them in Chennai, India. But, eventually the entire bike was manufactured in India and a couple of years later the Corporate started manufacturing the 500cc Bullet. By its sheer power, unmatched stability, superior riding comfort and rugged good looks, the Bullet dominated and continues to dominate the Indian roads. In 1990, Royal Enfield entered into a strategic alliance with the Eicher Group, - a Rs.10 billion conglomerate and later merged with Eicher Group in 1994. Since then, the Company has made considerable investments in modernizing its manufacturing technology and systems and in 1996, when the Government decided to impose stringent norms for emission, Royal Enfield was the first motorcycle manufacturer to comply. Royal Enfield is amongst the first few Indian companies to obtain the WVTA (Whole Vehicle Type Approval) for meeting the European Community norms. (b) The Indian Two Wheeler Industry The automotive industry in India is one of the largest in the world and one of the fastest growing globally. It is the world’s second largest manufacturer of motorcycles, in terms of number of two wheeler produced and sales of two wheeler. The Indian two wheeler industry has come a long way since its humble beginning in 1948 when Bajaj Auto started importing and selling Vespa scooters in India. Since then, the customer preferences have changed in favour of motorcycles and gearless scooters that score higher on technology, fuel economy and aesthetic appeal, at the expenses of metal-bodied geared scooters and mopeds. These changes in customer preferences have had an impact on the fortunes of the players. The erstwhile leaders have either perished or have significantly lost market share, whereas new leaders emerged. The key to success in the industry is to improve labour productivity, labour flexibility and capital efficiency. II. OBJECTIVES  To analyse the factors influencing the customers’ prefer towards the Royal Enfield bikes.  To study the customer satisfaction level in Royal Enfield bikes. Limitations of the Study The main limitation of the study is that it only deals with the consumer preferences of Royal Enfield in Chennai city. The sample size is also restricted to 100 respondents and the opinions and results could change if a bigger sample size is chosen. Review of Literature 1. Roger Hallowell (1996) the author’s study is based on an examination performed on information from a bank's retail‐banking operations. Represents the relationship of consumer loyalty to client dependability, and client devotion to profitability, utilizing numerous measures of fulfillment, and benefit. 2. Eshghi, Haughton and Topi (2007) this author reports the results of research that investigates the factors and requirements to switch wireless service providers. It is found to uphold the strong relationship between customer satisfaction and customer loyalty. The article includes an overview of the satisfaction– maintenance relationship. This research suggests that wireless service providers are better off improving customer satisfaction in order to minimize customer defection. 3. Garima Malik (2009) the main objectives of the author’s study are, to know general preference and opinions about TATA NANO, factors influencing purchasing decision and customer needs from TATA NANO. The study further showed that customers are satisfied in price and fuel efficiency, effective

31

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 sales promotion. The study also revealed various steps to solve complaints from customers is necessary to improve customers’ satisfaction. 4. Vipan Bansal and Bindu Bansal (2013) this author’s study is on the various reasons for purchasing mobile phones and usages of mobile phone applications. This study revealed that SMS is the most widely used Valued Added Service. The results showed that most of the respondents were satisfied with their current service provider show maximum willingness for shifting to Airtel. 5. Mihail Barbu (2013) this author’s study was based on the consumer loyalty in the automobile industry. The analysis showed statistically significant correlation between satisfaction, repurchase and recommendation and between recommendation and repurchase. The researcher concluded that loyalty is a powerful marketing tool and theses three concepts are interrelated. Analysis and Interpretation Table 1 Frequency Analysis of Consumer Preference Basis Factors Frequency Percent Comfort

22

22.0

Appearance

16

16.0

Brand image

31

31.0

Durability

12

12.0

Performance

19

19.0

Total

100

100.0

Source – Primary data Interpretation It is inferred from the table 1 that the majority of the respondents prefer Royal Enfield bikes due to its brand image, followed by comfort preferred people who cover almost one fourth of the respondents. Table 2 Frequency Analysis of Mode of Advertisement Frequency Percent Friends and relatives 65 65.0 Newspapers and magazines

11

11.0

Television and movies

16

16.0

Social media

8

8.0

100

100.0

Total Source – Primary data

Interpretation It is inferred from Table 3 that the majority of the respondents got to know about Royal Enfield go to know about their bike by word of mouth, closely followed by the respondents who saw the bike’s references in movies and television. Table 3 Frequency Analysis of Problems Faced Frequency Percent Mileage

33

33.0

Cost of maintenance

41

41.0

Vehicle noise

11

11.0

Poor customer management

6

6.0

Frequent repairs

9

9.0

100

100.0

Total Source – Primary data

32

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation It is from Table 4inferred that the majority of the respondents are not satisfied with the cost of maintenance of the bike. This shows that the cost of spares and other equipment required maintain the bike is very high. Mileage also happens to be happens to be a major area of concern. Table 4 Chi-Square between Frequency of Service And Overall Satisfaction Asymp. Sig. Value df (2-sided) Pearson Chi-Square a 23.143 12 .027 Likelihood Ratio

20.796

12

.053

.422

1

.516

Linear-by-Linear Association

N of Valid Cases

100

Source – Primary data Interpretation Hence it can be inferred here that most people are satisfied with the quality of service done at the authorized service centers and this has caused some of them lesser number of visits to the service center. Table 5 ANOVA between Frequency and Quality of Service The Service Was of High Quality Sum of Squares

Df

Mean Square

Between Groups

6.956

3

2.319

Within Groups

64.684

96

.674

Total

71.640

99

F

Sig.

3.441 .020

Source – Primary data H0: There is no difference in quality of service and frequency of service required. H1: There is a difference in quality of service and frequency of service required. Interpretation This analysis when compared with the mean values of the 2 variables it is clear that the quality of service is something that Royal Enfield has improved as those who felt it also felt that it meant lesser number of visits to the service center. The research hypothesis is true. Table 4 Mean Analysis of Service Related Metrics Do You Have Is Your The Spare The The Staff Showed Adequate Vehicle Parts Were Service Good Hospitality at Authorised Royal Delivered Readily Was of the Service Centre Enfield Service on Time Available In High Centres in Your After The the Service Quality Locality? Service? Centre 100 100 N Valid 100 100 100 Mean 1.88 1.96 2.00 2.06 2.06 Combined Mean = (1.88+1.96+2.00+2.06+2.06) / 5=1.992 Source – Primary data Interpretation The table above shows the mean value for each factor of service quality and the combined mean of the whole. The combined mean gives service quality a score of around 2 which means that service quality is agreeable but also shows scope of betterment.

33

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table- 5 Correlation between Frequency and Quality of Service How Often Does Your The Service Was Bike Require A Service? of High Quality Pearson Correlation

1

How Often Does Your Bike Require A Service? Sig. (2-Tailed)

.027 .793

N Pearson The Service Was of High Correlation Quality Sig. (2-Tailed)

100

100

.027

1

.793

N 100 100 Source – Primary data H0: There is a no relation between frequency and quality of service perceptions. H1: There is a relation between frequency and quality of service perceptions. Interpretation Hence, it is inferred that there is a difference between the two variables. There is a difference in how good the service is and thereby lesser frequency of visits to the service centre. Hence the research hypothesis stands true. III. FINDINGS  The respondents of the study are predominantly male and are of the age group of 15-25. Majority of the respondents are students.  Royal Enfield seems to be the preferred brand as it was a couple of decade ago. It is seen as a newer and aggressive competitor to KTM and Yamaha.  Cost of maintenance is an area where Royal Enfield has to improve a lot as people are not that satisfied with the company’s post sales service cost and maintenance.  Perceived quality is also moderately high with most people agreeing to Royal Enfield being a quality product. Some people still feel that the products of Royal Enfield are quite comfortable and stylish but the matter of concern is the performance and mileage.  Overall there is a long way to go for Royal Enfield before it can reach back to the prime position that it used to be in the past but there are some good signs which can be built up with some minor tweaks to reach its previous glory IV. SUGGESTIONS  Bring products at a more competitive mileage and performance to rival the likes of other bikes and continue its differentiation through design and durability of its products.  Focus more on its high cost of maintenance to provide a better experience to its customers so that they prefer Royal Enfield over time.  Market itself as a trustworthy brand and build a better service experience for its consumers to bring back the loyalty it used to have in the past.  Try to introduce more products that have a trendy makeover from its old hit models to bring out the nostalgia effect. V. CONCLUSION Thus, from the study conducted the consumer preference of Royal Enfield in Chennai and ways in which they can improve their consumer satisfaction have been analyzed and interpreted. Along with it various concepts of consumer preference and its importance to a company’s long term prospects have also been studied. The factors affecting consumer satisfaction in Chennai city have also been studied and ways in which they can be improved have been suggested. VI. REFERENCES 1. Roger Hallowell (1996) “The relationships of Customer Satisfaction, Customer Loyalty, And Profitability: An Empirical Study”. 2. Eshghi, Haughton and Topi (2007) “Determinants of Customer Loyalty In The Wireless Telecommunications Industry”. 3. Dr.Garima Malik (2009) “A Study on Consumer Perception And Expectations For Tata Nano”. 4. Vipan Bansal and Bindu Bansal (2013) “Customer satisfaction of mobile phone service users operating in Malwa Punjab”. 5. Mr. MihailBarbu (2013) “A Study Concerning Customer Loyalty In The Auto Market”.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON CREDIT CARDS AL. MANIKKAVASAGAM Final year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda Evening College (Autonomous) Mylapore, Chennai-600004 ABSTRACT Credit cards are one of the most used modes of payment in the present era whose fundamental purpose is to bestow the users with the privilege of getting into credit-based transactions. It allows its holders to buy goods and services based on the holder’s promise to pay for these goods and services. The issuer of the card creates a revolving account and grants a line of credit to the consumer from which the user can borrow money for payment to a merchant or as a cash advance to the user. The advent of credit cards brought about a great change in the manner by which transactions were dealt. It witnessed an escalating number following its launch. This study focuses on the impact of such cards amongst users and finding out whether the convenience of using credit cards would cause a negative influence on customers with respect to default risk. Keywords: Credit, Advance Cash, Customer I. INTRODUCTION Credit card originated in the United States during 1920s when individual companies such as hotel chains and oil companies began issuing them to customers for purchases made at their business units. The use increased after Second World War. Diners Club introduced the first universal credit card that can be used at variety of stores and businesses. In 1958, the American Express company established another universal card called „Don’t leave home without it’. A credit card is a payment card issued to users to enable the cardholder to pay a merchant for goods and services based on the cardholder‟s promise to the card issuer to pay them for the amounts plus the other agreed charges. The card issuer creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. In other words, credit cards combine payment services with extensions of credit. Complex fee structures in the credit card industry may limit customer‟ ability to comparison shop, helping to ensure that the industry is not price-competitive and helping to maximize industry profits. Due to concerns about this, many legislatures have regulated credit card fees. II. OBJECTIVES  To examine and study the utilization of credit cards and factors determining them.  To understand the impact and influence of credit cards in the future.  To examine the consumer‟s perception towards reliability, security and consumptions of credit cards. Statement of the Problem Card usage spiked during the months of November 2016, December 2016 and January 2017, following the demonetization of Rs 500 and Rs 1000 notes. The unavailability of cash forced cardholders to use them. But since February 2017, both debit card and credit card usage have been range-bound. The problem in focus is to address the impact of credit card usage amongst the general public and analyze whether they unknowingly transact beyond their capabilities using this mode of payment. The analysis is made on data collected within the scope of Chennai city using statistical methods. Following this analysis comes the suggestion as to whether there is a need to bring control in the usage of credit cards. Review of Literature Gambir (1998) “Credit cards in India”. This study states that Credit cards are relatively new to India. It is treated as status symbol. The study revealed that with increasing economic and financial liberalization and growing prosperity of the urban middle-class banks fells that it is desirable to enter into this line of business. It also tells that credit cards and money transfers with latest technological changes would definitely reduce the burden on cash in our system. Swarnalatha (2003) The study based on the perception of selected credit cardholders of various issuing banks in Chennai city. This research finding and conclusion based on the hypothesis says that single cardholders are less satisfied than multiple cardholders. Further the results also stated that there are cardholders holding cards both in Indian and foreign banks are more aware of the services and experienced greater satisfaction. Shane P and Suresh K (2008) Their survey on the usage of credit cards was restricted to retail outlets. They have found that it has nearly doubled from 30-35% two years ago to 50-60% current year. The credit card holders use their credit cards most often for purchase of clothing, followed by supermarket/grocery shopping, at hotels and at restaurants

35

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 K Govindarajan, Vijay and S Balachandra (2012) Their survey highlights a clear shift in the use of credit cards among Indians. As most of the outlets/merchants have started accepting credit cards. Therefore, it more convenient to the cardholders to make payment at the point of purchase terminal. The study further states that consumer is using credit cards not only as a security measures but as a status symbol causing them to spend more. Data Analysis and Interpretation Table 1: Gender Gender Frequency Percent 40 80.0 Male 10 20.0 Female 50 100.0 Total Interpretation From table 1 it can be inferred that most of the respondents are males (80%). Only few respondents are females (20%).The population of males are dominating in this study when compared to the female population. Table 2 Age Group Age Less than 25 25-35 Above 45 Total

Frequency 9 32 9 50

Percent 18.0 64.0 18.0 100.0

Interpretation From table 2 it can be inferred that most of the respondents are in the age group of 25-35, followed by 18% of respondents in the age of less than 25 and above 45 respectively. The age group of 25-35 is the primary focus in this study. Table 3 The factors influencing the choice of credit cards Particulars Frequency Percent Credit limit

34

68.0

Marketing campaign

3

6.0

Image of the issuer bank

8

16.0

Interest charges

5

10.0

50

100.0

Total

Interpretation Table 3 shows the factors influencing the choice to Credit cards. Credit limit is the important factor that determines most respondent‟s choice (68%), followed by image of the issuer (16%), interest charges (10%) and market campaign determines only few respondent‟s choice (6%). Hypothesis of the Study  H0 – There is no significant relationship between Credit card‟s penetration in the future and usage of Credit card is beneficial.  H1 – There is significant relationship between Credit card‟s penetration in the future and usage of Credit card is beneficial.

36

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

Table 4 Correlation between Credit card’s penetration in future and usage of Credit card is beneficial. Correlation In future, Credit cards will have penetration in society

Particulars

The usage of Credit card is beneficial

Pearson 1 Correlation Sig. (2-tailed) N 50 Pearson .343* Correlation The usage of Credit Sig. (2-tailed) .015 card is beneficial N 50 *. Correlation is significant at the 0.05 level (2-tailed).

.343*

In future, Credit cards will have penetration in society

.015 50 1 50

Interpretation Table 4above shows the level of significance which is at 0.15 (which is <0.05), so the variables are positively correlated. The Null hypothesis (H0) is rejected and can be concluded that there is a significant relationship between both the variables. Hence it can be inferred that there are similar responses to both the variables by the respondents regarding the viability of credit cards in the future and their benefits. Table 5 Credit card’s penetration in future and usage of Credit card is beneficial. Descriptive Statistics Particulars

N

Minimum Maximum Mean

Std. Deviation

The usage of Credit card is beneficial

50

1

5

2.42

1.180

In future, Credit cards will have penetration in society in future.

50

1

5

2.18

1.119

(1 - Strongly Agree, 2 - Agree, 3 - Neutral, 4 - Disagree, 5 - Strongly Disagree) Interpretation From Table5, it can be observed that credit cards are beneficial and have penetration in future as the responses of both the variables are on the positive side of the spectrum. This suggests that the respondents predominantly do not disagree to the variables provided. Table 6 Mean and median of expensiveness of credit cards and their interest rates. Credit cards are Credit card is considered more Particulars expensive to maintain reliable and secured 50 50 N Mean

2.06

3.42

2.10 3.50 Median (1 - Strongly Agree, 2 - Agree, 3 - Neutral, 4 - Disagree, 5 - Strongly Disagree) Interpretation From the Table 6 above, it can be observed that the means of the two variables suggest two different responses, positive and negative. Most of the respondents are in agreement with the statement that credit cards are expensive to maintain, whereas in the question about whether credit cards are reliable and secure, the average responses seem to be negative. This inference suggests that the reliance of credit cards is affected, and also that the interest rates charged by banks are not very reasonable and hence expensive.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

III. FINDINGS  The analysis reveals that the majority of the respondents are males (80%).  It is found that majority of the respondents (64%) come under the age group of 25-35.  The factors determining the choice of Credit card reveals that majority of the cardholders select a card based on its credit limit (68%).  There are similar responses to both the variables by the respondents regarding the viability of credit cards in the future and their benefits.  Credit cards are beneficial and have penetration in future as the responses of both the variables are on the positive side of the spectrum.  It was found that that the reliance of credit cards is affected, and also that the interest rates charged by banks are not very reasonable and hence expensive. IV. SUGGESTIONS The following are the important suggestions provided to resolve the various problems of Credit cardissuing banks and for the growth of the Credit card sales and satisfaction of the cardholders:  The Credit card issuers should take necessary steps to improve the awareness among female cardholders, higher age group, professionals and businessman for their business growth.  It is suggested that the issuers should encourage the merchant establishments for wider acceptability of card for purchase convenience and they should also main a consistent credit limit.  The issuing banks should take necessary steps to popularize their card business through effective advertisement campaigns and sales promotional measures for the growth of the credit sales.  Another suggestion is that the card-issuers must take further steps to enhance the users‟ comfort while transacting, and win their confidence by making credit cards more reliable by charging reasonable interest rates to encourage more usage of such cards. V. CONCLUSION The usage of credit cards has greatly increased in the recent times, but still, the market is yet to realize its full potential. There are a number of bank customers who still do not have proper knowledge of the working mechanism of Credit cards. Customer satisfaction is found to be less because of high interest rates charged and lack of proper advice from banks. The Credit card helps cardholders to avoid carrying too much cash and enables cash withdrawal through ATM. It also helps customers purchase a wide range of goods and services without possessing readily available funds. Thereby these cards have played a vital role in improving the lifestyle of every cardholder in Chennai. Responsible usage of the same will greatly benefit the customers and boost the growth of businesses. VI. REFERENCES 1. Khan, MY and Jain, PK (2007), Financial Services, Kalyani Publication 2. Khare, A (2012), Factors affecting credit card use in India, Asia Pacific Journal of Marketing and Logistics 24(2):236-256 3. Santhanam, B (2003), Financial Services, Margam Publications 4. Shrivastav, Shailesh S (2014), A study on credit card users in India. Retrieved from http://hdl.handle.net/10603/18530 5. https://en.wikipedia.org/wiki/Credit_card 6. https://www.britannica.com/topic/credit-card

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON CUSTOMER SATISFACTION OF E-BANKING WITH SPECIAL REFERENCE TO ICICI BANK IN CHENNAI CITY V. CHANDRAMOULI. Final year, Department of Accounting & Finance Ramakrishna Mission Vivekananda College Evening College (Autonomous) Mylapore, Chennai- 600 004 ABSTRACT This study has been meticulously conducted to measure and evaluate the customer satisfaction in using online banking services provided by ICICI Bank. This study also analyses the reason behind preferring the online banking services provided by the consumers and also tries to identify the major problems encountered by the consumers while using E-Banking services. This study was conducted with the help of a well-structured questionnaire. The sample size of this study was 50 respondents who were utilizing E-Banking services provided by ICICI Bank. The study concludes that the majority of the consumers were satisfied with the level of assistance, security and the overall E-Banking experience provided by ICICI Bank. Key Words – E-Banking, Customer satisfaction, ICICI Bank. I. INTRODUCTION The birth of the internet banking took place in the early 1990’swhich has changed the way in which the consumers have started to reach the services of commercial banks. ICICI Bank played a crucial role in developing internet banking services in the Indian commercial banking sector, since then a lot of banks have started to incorporate online banking services in their operations. Since almost all commercial banks have started provide internet banking services it is important for the banks to evaluate the customer satisfaction to retain their market share and attract new consumers. Even though a lot of consumers have accepted online banking there are still concerns about usability, security and trustworthiness in the process of online banking. Since India is taking giant steps in the process of globalization it is important for banks to know how satisfied are consumers in using internet banking services and the factors that influence them to adopt online banking in their day to day activities. II. OBJECTIVES The objectives of the study are as follows: 

To analyze the reasons why the consumers prefer ICICI Bank over other banks.



To find out if there is a relationship between income levels and the frequency of use of E banking services.



To find out the major problems encountered by the users of net banking services provided by ICICI Bank.



To examine the satisfaction among consumers in terms of level of security and assistance provided by ICICI Bank.

 To measure the overall satisfaction of customers on E-Banking services provided by ICICI Bank. Statement of the Problem The business environment in which the commercial banks operate is constantly changing; this constantly changing environment has made the banking sector more competitive. Banks are finding it more difficult to handle the problem of competition which is making them to go in search of new methods to attract consumers to use their banking services. The changes that is taking place in the industry is because of the fact the needs of the customers have become more sophisticated and it is equally important for the banks to fulfill the needs of individual consumers to retain their existing market share and to make their brand more trustworthy. Even though banks have incorporated internet in their services they are still worried about the increasing costs the reason behind increase in costs is because of the fact that the needs of the consumers are changing on a daily basis and banks do not know if the consumers are satisfied with the services provided by them. The reasons mentioned above makes this study important. In order to differentiate themselves from the competition the commercial banks are required to measure the satisfaction of the consumers to know if the services provided by them are satisfying the needs of the consumers. Limitations of the Study The limitations of the study are as follows:  As the research is based on samples it may not reveal the factual information of the study.  Due to constraints of time the study is only restricted to Chennai city.  As the banking sector is ever changing, what is relevant today might be irrelevant tomorrow.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 

A sample size of only 50 was taken from the large population for the purpose of the study so there can be a difference in results of sample from the total population. Review of Literature S. Kavitha (2011) In her research titled ―Influence of Demographic Variables on Customer Satisfaction Regarding E-Banking: An Empirical Investigation, Issues in Information Systems Volume‖. The study has stated the way in which the banks operate has undergone a significant change. The bank employees play a crucial role in providing information to their clients. The study also states that the banking industry is changing on a consistent basis so it is important for the commercial banks to adapt to internet banking so maintain their competitive edge. It is also necessary that the information provided by secondary channels of banking provide like ATM’S, Net Banking, Mobile Banking are consistent with one another. The main objective of this study is to measure the customer satisfaction regarding online banking transactions. The study also seeks out to find if the demographic variables affect the customer satisfaction in online banking transactions. Jayalakshmi (2009)In her research titled ―E Banking –A Study with Reference to Customer Satisfaction, Advances In Management, 2009‖ the main purpose of the study was to know the working the online banking. The study pointed out that the traditional banking activity took place one on one and there was good chance of mistakes and fraudulent activities taking place. This study has also stated that the modern banks cannot depend on the traditional banking methods as the consumer needs and demands have become more advanced and changing on a daily basis. The study is focused on analyzing how the banks attract consumers to use their services and to measure the satisfaction level of consumers from using different banking services. Dr. Saroj K. Datta(2010)In her research titled ―Acceptance of E-banking among Adult Customers: An Empirical Investigation in India, Journal of Internet Banking and Commerce, August 2010‖.In this study the demographic variable was interpreted with the help of statistical analysis and descriptive statistics. Factor and regression analysis was to determine the usage of internet and to know the factors affecting online banking services among adult consumers of India. The findings of the study depicted that factors like security, familiarity, innovation & privacy contribute to adoption of online banking services by the adult consumers in India. The study also indicates that the adult consumers are willing to adopt online banking services in spite of security issues provided if the banks are willing to provide adequate guidance. Uppal .R.K (2011) In his research titled ―Customer Service in Banks: Mapping Excellence in Emerging New Competitive Era, Information Management and Business Review‖. This study has stated that internet banks are more efficient in regards to time factor and it is also one of the important reasons for shift in customer preferences. Chi square test was used to check the level of significance among various bank groups & coefficient of contingency among various consumers was used to calculate the responses. G. Kannabiran and P.C. Narayan (2005) In their study titled ―Deploying Internet banking and ecommerce—case study of a private-sector bank in India‖ have discussed the experiences of a private sector bank in implementing online banking and online shopping services in India. Information technology strategies, business alignment, planning and implementation of online banking initiatives and management of benefits are measured along with the factors contributing to growth. Rakesh H M & Ramya T J (2014) In their research paper titled ―A Study on Factors Influencing Consumer Adoption of Internet Banking in India‖ tried to examine the factors that influence internet banking adoption. Using PLS, a model is successfully proved and it is found that internet banking is influenced by its perceived reliability, Perceived ease of use and Perceived usefulness. In the marketing process of internet banking services marketing expert should emphasize these benefits its adoption provides and awareness can also be improved to attract consumers’ attention to internet banking services. Table 1 Chi Square Test Between Frequency of Use and Income Levels

Pearson Chi-Square Likelihood Ratio Linear-by-Linear Association N of Valid Cases

Value

Df

Asymp. Sig. (2-sided)

9.517a 10.552

12 12

.658 .568

1.435

1

.231

50

Interpretation From the above table 1,it can be inferred that the value of Pearson chi square (r =.658) is greater than the significance level of 0.05 which means there is no significant relationship between income and frequency of use.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

Table 2 Anova Analysis Between Age and Satisfaction Level of Security Sum of Squares Df Mean Square Between Groups

3.956

4

.989

Within Groups

27.964

45

.621

Total

31.920

49

F

Sig.

1.591 .193

Interpretation From the above table 2,it can be inferred that the level of significance is greater than 0.05 which means that there is an insignificant relationship between age and level of security. Table 3 Correlation Analysis Between Assistance and Satisfaction Level Assistance Satisfaction level Pearson Correlation Assistance

.621**

1

Sig. (2-tailed)

.000

N

50

Pearson Correlation Satisfaction level Sig. (2-tailed)

.621

50 **

1

.000

N

50

50

**. Correlation is significant at the 0.01 level (2-tailed). Interpretation From the above table 3, the correlation test was applied to find out if there is a significant relationship between satisfaction in level of assistance provided and overall satisfaction level in E banking services provided by ICICI Bank. The result shows that there is a significant relationship between satisfaction in level of assistance provided and overall satisfaction level in usage of online banking services of ICICI Bank returns. r = 0.621, p = .000. III. FINDINGS OF THE STUDY  From the study it can be inferred that the value of Pearson chi square (r =.658) is greater than the significance level of 0.05 which means there is no significant relationship between income and frequency of use.  From the study it can be inferred that the level of significance is greater than 0.05 which means that there is an insignificant relationship between age and level of security.  The result of the study shows that there is ainsignificant relationship between satisfaction in level of assistance provided and overall satisfaction level in usage of online banking services of ICICI Bank returns. r = 0.621, p = .000.  46% of the respondents opt for internet banking services provided by ICICI Bank because of ease of use, 26% of the respondents prefer the online banking services because to save time, 16% of the respondents resort to internet banking of ICICI Bank because of their loyalty towards the brand, 8% of the respondents choose internet banking services for being cost effective, 4% of the respondents are opting for online banking services of ICICI Bank because of the customer support that the bank provides.  8 respondents were facing the problem of delay in opening of the web page, 4 respondents face the problem of Lack of security and Technical issues and 14 of the respondents have responded that they do not face any problems while conducting their transactions. IV. SUGGESTIONS  From the study it can inferred that there is no significant relationship between income levels and frequency of use so it is important for the bank to cater to the needs of all the consumers to increase the frequency of use.  Mobile banking has become more popular and most of the consumers are comfortable in using mobile application that is provided by ICICI Bank to access internet banking services and comfort levels in using mobile phones is contributing to the overall satisfaction level, ICICI Bank should continue to

41

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 provide the same level of comfort levels in using mobile phones to access internet banking services to keep the customers satisfied.  The bank should provide more awareness on updates it makes to its E-Banking framework as most of the consumers are not aware of the updates made by the bank.  Users of the internet banking services provided by satisfied with the level of assistance provided by ICICI Bank, if the bank starts to provide assistance on time it can keep its customers satisfied.  Most of the consumers are satisfied with the overall banking experience, if the banker can provide the same quality of services it can fulfill the needs of the existing users and attract more consumers to access E-Banking provide by ICICI Bank. V. CONCLUSIONS From the study it was quite evident that the consumers were satisfied with the internet banking experience provided by ICICI Bank. In order to satisfy the existing users and attract more consumers to avail the banking services it is just not sufficient for the banks to provide comfortable mobile banking services, higher levels of security and assistance when needed by the consumers. For attracting new consumers the banker needs to come up with innovative ideas to stand out from his competition as the needs of the consumers want more of customized services according to their needs. To conclude the consumers are happy and satisfied with the internet banking services provided by ICICI Bank, if the bank can continue providing the same level of quality of services it can attract more consumers to avail the E-Banking services. VI. REFERENCES 1. https://www.researchgate.net/publication/322129672_CUSTOMERS'_SATISFACTIONTOWARDS_I NTERNET_BANKING_OF_ICICI_BANK_LIMITED__A_STUDY_IN_ERODE_CITY. 2. Influence Of Demographic Variables On Customer Satisfaction Regarding E-Banking: An Empirical Investigation, Issues In Information Systems Volume Xii, No. 1, Pp. 436-444, 2011 3. E Banking –A Study with Reference to Customer Satisfaction, Advances In Management, 2009, vol. 2, issue 9 4. Acceptance of E-banking among Adult Customers: An Empirical Investigation in India, Journal of Internet Banking and Commerce, August 2010, vol. 15, no.2 5. Customer Service in Banks: Mapping Excellence in Emerging New Competitive Era, Information Management and Business Review Vol. 2, No. 5, pp. 193-202, May 2011. 6. Deploying Internet banking and e-commerce—case study of a private-sector bank in India, Information Technology for Development Volume 11, Issue 4, pages 363–379, Autumn (Fall) 2005. 7. Banking and financial system – B. SanthanamMargham publications 8. https://www.academia.edu/5507016/A_STUDY_ON_FACTORS_INFLUENCING_CONSUMER_AD OPTION_OF_INTERNET_BANKING_IN_INDIA

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON CUSTOMER SATISFACTION OF OLA CABS S. I. SYED IMRAN Final year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College, Evening College (Autonomous) Mylapore, Chennai – 4 ABSTRACT Customer satisfaction is an emotional response to the experiences provided by associated with particular products or service purchased. This research paper is an attempt to explore the customer satisfaction towards Ola cabs across Chennai city. Convenient data sampling method is used for data collection. The study uses both primary and secondary data. The primary data was collected by using a well-structured questionnaire from 102 respondents. The tools like correlation and chi square analysis were used. To conclude Ola cabs has created a good brand image in the minds of customers concerned with personal transportation services. Key Words: Ola cabs, customer satisfaction, Ola Mobile App, Level of safety I. INTRODUCTION In day to day life everyone needs to travel from one place to other to satisfy their needs, so that they need the help of vehicles to travel. Some will have their own vehicles, some will use government vehicles and some will prefer private vehicles like car, auto, van, bus, etc. OLA is one of the most popular vehicle services in India. In some cities, they operate under the standard taxi permit, while in some cities; they are treated as tourist vehicles for hire. It is a type of vehicle hired with a driver, used by a passenger or a group of passengers, usually for a non-shared ride. A taxi Cab helps passengers to go for their desired. This differs from other modes of public transport were the pick-up and drop-off locations are determined by the service provider, not by the passenger. They are preferred as they are considered safer, more convenient than other public transports like bus, train, etc. II. OBJECTIVES OF THE STUDY  To know how often the Ola Cabs are used.  To find the average journey time of customers in Ola Cabs.  To know that how people came to know about the Ola Cabs. Statement of the Problem A Huge number of Population doesn’t own their respective Transportation medium. People mainly tend to look for public transport more often. Thereby Transportation through Cabs/Taxi’s have a significant influence in day to day life of the people. Earlier research and study are mainly concerned with customer satisfaction of Ola cabs with reference to products and service in the area consumer durable goods both in urban and rural areas. This research paper is an attempt to explore the customer satisfaction towards Ola cabs in Chennai city. Research Methodology Research methodology is a way to systematically solve the research problems. It may be understood as a science of study how research is done scientifically. It includes various steps that are generally adopted by researcher in studying his research problems along with the logic behind them. Sampling Unit The sample unit determination is the act of choosing the number of observation or replicates to include in statistical sample. Convenience sampling based on availability, reach and accessibility is used for the purpose of collecting data from the respondents in this research. 102 respondents are chosen as sample. Limitations of the Study  Questionnaire may be simple to complete, however, some people simply don’t like to  complete them.  Findings of this study may be influenced by personal opinion of the respondents.  Findings of this study can’t be generalized. Review of Literature Abdirahman A. Hussein (2016), “A study on service quality practices and customer satisfaction in taxi company in Nairobi”. The main issue addressed in this research is service quality practices and Satisfaction by customer among taxi companies in Nairobi. The first objective was to determine the level of Service quality practices are adopted by taxi companies in Nairobi. The result was that the practice of Service quality dimensions was found to be different among different taxi companies in Nairobi. Meaning that the degree of use of Service quality dimensions varies depending on the indicators of customer satisfactions. Chen (2015) “A study on customers brand towards Meru cabs” Mobile Apps help both drivers and passengers to find each other. At present the mobile Apps are helping the customers to find Cabs. In the recent years the car rental industry is growing proportionally in metropolitan cities in India. The Meru Cabs had become more familiar and the demand for them had exceeded the supply which means technology had created huge demand for organized Cab industry. The factors like accessibility, reliability and transparency are primary factors which have attracted customers towards branded Cab services like Meru Cabs.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

Hanif (2016),“A study on customer’s satisfaction towards Meru Cab service”. He had stated that there was demand for Call-a-Cab service offered by Meru Cab. The Cab services are proving security through global positioning system (GPS) and women taxi drivers for women passengers especially during night times. Autorickshaws (three wheelers) are more popular in urban transport before the advent of cars and Cabs and it is fully Cab services for the use of personal transport. The driver behavior have negative impact on customer satisfaction in Ghana. The variables like continuous service, comfort, reliability and affordability have an impact on customer satisfaction with regard to mini Cab taxi. Dr. P. Kishore Kumar (2016)“A study on factors influencing the consumers in selection of Cab services” The consumers who are price conscious are likely to redeem coupons while booking Cabs. The innovative consumers are interested to adopt for new technology like use Apps for booking Cabs and other services. The repayment of cash coupons is motivating factor for consumption of Cab services. The consumers have got addicted for mobile Apps to book Cabs and they are also feeling safe with regard to organized Cab services. Data Analyses And Interpretation Chi-Square Tests between occupational Status and Frequency of Single Cabs. H0: There is no significant relationship between occupational status and frequency of using Ola cabs. H1: There is a significant relationship between occupational status and frequency of using Ola cabs. Table 1 Chi-Square Tests Value

df

Asymp. Sig. (2-sided)

Pearson Chi-Square

21.597

a

6

.001

Likelihood Ratio

22.979

6

.001

Linear-by-Linear Association

15.410

1

.000

N of Valid Cases

102

a. 6 cells (50.0%) have expected count less than 5. The minimum expected count is .55. Interpretation From the above table 1, the results of chi-square tests are inferred for the variables occupation and frequency of using Ola cabs. With value being 0.01 the result has passed with desired conclusion. Therefore, the null hypothesis is rejected and there is significant relationship between the two variables. People with desired occupation use ola cabs according to their requirements. Correlationbetween Rating on Ola Cabs and Safety During the Travel H0: There is no association between rating on Ola cabs and safety during the travel H1: There is an association between rating on Ola cabs and safety during the travel Table 2 Symmetric Measures Value

Asymp. Std. Error

Approx. Tb

Approx. Sig.

Interval by Interval

Pearson's R

-.504

.084

-5.782

.000c

Ordinal by Ordinal

Spearman Correlation

-.468

.094

-5.249

.000c

N of Valid Cases

100

a. Not assuming the null hypothesis. b. Using the asymptotic standard error assuming the null hypothesis. c. Based on normal approximation.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

Interpretation From the above table 2, the result of tests of correlation between two variables- safety during the travel and corresponding ratings given to Ola. With value being less than the desired 5% (0.05) requirement, we can conclude that people think Ola is safe to travel and they have given the highest scale rating of 5. So, there is significant relationship and research hypothesis (H1) is tested positive. Correlation between rating on Ola Cabs and to Reach Destination on Time H0: There is no relationship between rating on Ola cabs and to reach destination on time. H1: There is a relationship between rating on Ola cabs and to reach destination on time Table 3 Symmetric Measures Value

Asymp. Std. Errora

Approx. Tb

Approx. Sig.

Interval by Interval

Pearson's R

-.371

.089

-3.958

.000c

Ordinal by Ordinal

Spearman Correlation

-.331

.098

-3.477

.001c

N of Valid Cases

100

a. Not assuming the null hypothesis. b. Using the asymptotic standard error assuming the null hypothesis. c. Based on normal approximation. Interpretation From the above table 3, the result of tests of correlation between two variables- “on time to reach destination” and corresponding rating given to Ola. People feel Ola helps them to reach their destination timely without any delay, so they have given the high rating on scale. . So, there is significant relationship and research hypothesis (H1) is tested positive. Correlation between rating on Ola Cabs And Understanding The Customers. H0: There is no significant relationship between rating on Ola cabs and understanding the customers. H1: There is a significant relationship between rating on Ola cabs and understanding the Customers. Table 4: Symmetric Measures Value Asymp. Std. Error Approx. Tb Approx. Sig. Interval by Interval Pearson's R

-.441 .081

-4.860

.000c

Ordinal by Ordinal Spearman Correlation -.486 .087

-5.503

.000c

N of Valid Cases

100

a. Not assuming the null hypothesis. b. Using the asymptotic standard error assuming the null hypothesis. c. Based on normal approximation. Interpretation From the above table 4, the relationship between two variables- “smart enough to understand customers and the corresponding ratings given to Ola. People feel that Ola drivers are smart enough to understand their emotions and feelings very much and act accordingly. Hence, they have given positive feed backs and ratings. III. FINDINGS  52.9% of respondents were belonged to the age group of 20-30 years.  68.6% of respondents came to know about Ola Cabs through their friends and relatives.  86.3% of respondents had Ola App in their mobiles  94.1% of respondents were said that it was safe in Ola Cabs at night time  35.3% of respondents were said that they took Ola Cabs once in a month.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

       

49% of respondents said that their travelling time in Ola Cab would be more than 15- 30 minutes. 60.8% of respondents said that the journey on Ola Cabs represent the value for money. 45.1% of respondents were agreed that it is not necessary to call and book the cab 56.9% of respondents were agreed payment via the app is convenient. 45.1% of respondents were strongly agreed that tracking the cab is very useful. 52.9% of respondents were agreed that rating Ola drivers is beneficial. 54.9% of respondents were agreed in punctuality. 66.7% of people using Ola cabs are students. It is the highest among people having different occupations.  66 respondents believe Ola is safe to travel when rating of the cabs is high.  58 people agree that Ola reach the destination on time and highest rating is given.  55 respondents say Ola drivers understand their emotions well and act accordingly. IV. SUGGESTIONS  Drivers are little rude to customers and that should be concentrated more while Appointment a driver. Ola Cabs customer service is a good scheme but it must be quick in solving the problems of the customers. It should be cost efficiency.  Sometimes there is a trouble in the App while booking the Cab so that it should be watched properly.  Many times, the booked Cabs are automatically getting cancelled during peak hours so if it is cancelled also arrange an alternate Cab to that particular place.  Coupons are quickly getting expired so that the period of coupon should be increased. Maintenance of car is good but AC cooling is lagging. Peak hour charges should be regular and not to be over charged V. CONCLUSION Excellent customer service and high customer satisfaction must begin with understanding customer expectations. We need to know who your customers are and what they really need. The result of the study revealed that the Ola Cab service was good and worth of travelling. The Ola Cab services are known to all by advertisement and by the word of mouth. Ola Cab is readily available in the place where we were at present. Ola mostly satisfies all the customers’ needs in travelling. Majority of the people prefer Ola as it is reasonable in its rate. As it makes easier for the customers in booking of Cabs through mobile Apps all the customers falls on Ola Cabs. Thus, it shows that we can expect a growth on the travel by Ola Cabs and can expect more improvements and innovations in their Ola services. VI. REFERENCES 1. HusseinAbdirahman. A(2016), “A study on service quality practices and customer satisfaction in taxi company in Nairobi”. International journal of business analytics and intelligence, Volume no. 2Retrieved from: http://erepository.uonbi.ac.ke/bitstream/handle/11295/99277/Service%20Quality%20and%20Customer%2 0Satisfaction%20in%20Taxi%20Companies.pdf?sequence=1&isAllowed=y 2. Chen (2014) “A study on customers brand towards Meru cabs”. International Journal of Management Research, Issue no. 6, Volume no. 3. Retrieved from:https://www.google.com/search?q=%22%E2%80%A2%20Chen%20(2014)%20%E2%80%9CA%20 study %20on%20customers%20brand%20towards%20Meru%20cabs%E2%80%9D.%22 3. Hanif and Sagar (2016), “A study on customers satisfaction towards Meru Cab service”.Indian Journal of Commerce and Management Studies, Volume no. 8, Month – June.Retrieved from: https://www.google.com/search?q=hanif+and+sagar+a+study+on+customer+satisfaction+towards+meru+ cabs&oq=hanif+and+sagar+a+study+on+customer+satisfaction+towards+meru+cabs&aqs=chrome..69i57 .7147j0j7&sourceid=chrome&ie=UTF-8 4. Dr. Kumar Kishore.P (2016) “A study on factors influencing the consumers in selection of Cab services”International Journal of Social Science and Humanities Research, Volume no. 4, Issue no. 3, Pg no. 557- 561.Retrieved from : https://www.google.com/search?q=kishore+kumar+2016+a+study+on+factor+influencing+consumer&oq =kishore+kumar+2016+a+study+on+factor+influencing+consumer&aqs=chrome..69i57.11176j0j7&sourc eid=chrome&ie=UTF-8 5. https://en.wikipedia.org/wiki/Call_Taxi_(India) 6. http://shodhganga.inflibnet.ac.in/bitstream/10603/3706/12/12_chapter%203.pdf 7. http://tqmgroups.blogspot.com/p/customer-satisfaction-is-key-component.html 8. https://courses.lumenlearning.com/boundless-business/chapter/customer-relationships/ 9. https://www.sitepoint.com/satisfaction-7-steps/ 10. http://www.jobriya.in/ola-latest-job-vacancy/ 11. https://en.m.wikipedia.org/wiki/Ola_Cabs#Acquisitions

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON EFFECT OF ODD END PRICING ON CONSUMER BEHAVIOUR A STUDY WITH SPECIAL REFERENCE TO CHENNAI CITY S. NAGARAJAN Final Year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College Evening College [Autonomous], Mylapore, Chennai – 04 ABSTRACT Psychological pricing has been used by marketers over the decades to manipulate buying behaviour of consumers. Marketers often use psychological policy in pricing the products or services. In fact, knowledge on the perception of consumers on psychological pricing can help marketers in framing vital marketing policies in terms of marketing communication and distribution. Hence a need was felt to know the perception of consumers on psychological pricing. This paper conducts a systematized study with the objectives of studying the overall consumer perception on psychological pricing. It is an exploratory cum descriptive study with a sample size of 180 each for consumers respectively.The study found that psychological pricing attracts customer to have a look at the products. Secondly as psychological pricing increases the chances of selling products, it is a motivation for the sales people for selling such products. Thirdly since the figure ending with 99 give a good effect in the mind of the customers it is a good marketing strategy to bring more customers. Moreover, marketers need to communicate and see that the products which have psychological price tags are equally better in quality compared to other normal products otherwise such kind of policy will not get a good market for the brand in the long run. Keywords: perception, psychology, odd pricing I. INTRODUCTION Price is an inevitable part of a consumer‟s everyday life, which is perceived from two sides. One side determines the price, and the other accepts the price. Therefore, it is all about the seller and consumer. Price is a very interesting element that everyone encounters, and people as consumers are often not aware of the influence it has on them, that is, on their decisions. On the other hand, they are sometimes not aware of the meaning of a certain price and why a certain price is expressed by a specific amount. The subject of this paper is the impact of the psychological price on consumer behaviour. The paper explains how consumers perceive prices, how it affects their decisions and what its role is in consumer decision-making process. Psychological pricing has been used by marketers over the years to influence buying behaviour of consumers. This practice is based on the notion that customers have a tendency to process a price from the left-most digit to the right and as a result will be inclined to disregard the last few digits of a price. II. OBJECTIVES  In order to analyse the effect of odd end pricing on the consumer behaviour.  To know the awareness of odd end pricing among the consumers.  To determine the consumer difference of perception towards odd pricing and discounts. Need of the Study Though the concept of psychological pricing is often used by marketers in practice as a pricing strategy to entice customers for products and services, study on the perception of consumers on psychological pricing in quite less. It is important that we analyse whether this factor is still relevant in an age where consumers are quite aware about various product sold in the markets and can easily compare within minutes it is important that we analyse whether these odd ending prices still have an effect on consumers. Data Collection Method The study was conducted in the city of Chennai in the state of Tamil Nadu. The study has been undertaken in the first quarter of 2019. The method of single staged sampling has been used for the collection of primary data. Qualitative approach and quantitative approach have been used to determine the sample size. A sample size of 180 was taken on the consumers respectively in total for a more representative study, as a sample size of 180 is common and minimum size prescribed for behavioural studies and based upon affordability. The respondents were selected for the survey is random customers of Chennai city. The responses were recorded with the help of questioner in the form of Google forms. Limitations of Study Normally, each study and the present study are not free from the limitations. A few limitations are as follows.  The study has been carried out in the Chennai city.  This study is limited to 180 customers and results may vary if sampling is done with different range.  This study is focused only with consumer‟s psychology. 

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Review of Literature Agwu and Carter (2014) „among the four Ps, the only income generator and the value attached to the product is price only. The amount of money charged for a product or service is known as price. According to (Kotler et al 2010) Price is defined as the sum of all the values that customers give up in order to gain the benefits of having or using a product. According to Baker (1996) price is the mechanism which ensures that the demand and supply are in equilibrium. Bertini and Gourville (2012) stressed that businesses should look beyond the mechanics of just fixing prices they feel is suitable for a product having estimated cost and profit still relevant but no longer sufficient to recognize that harmonization in the way they generate revenue can open up possibility to create additional value. Schindler, Parsa and Naipaul (2011) in their study found that the use of “just-below� pricing (such as pricing an item at $6.99 or $6.95, rather than $7.00) has become common in some segments of the hospitality industry like quick-service and mid-scale dining. The results of a detailed study on the price-ending beliefs of hospitality managers show the belief of many that just-below pricing signify good value and round number prices indicate high quality. Furthermore, majority of the managers believe that consumers have a tendency to give lesser attention to the rightmost digits of a price. Research Methodology The research was Descriptive research. The primary or the first hand data was collected with the help of handing out the questionnaire to the customers. Convenience sampling is used to obtain data or information by administration of questionnaire through Google form (Sample of 180 was collected through questionnaire).The Interpretation of data was based on the awareness of the odd price, preference of discounts, 99 over 100. Frequency analysis, correlation, chi-square are the statistical tools used for analysing the data. Analysis and Interpretation Table 1 Represents Awareness of the Concept Odd Pricing (9- Ending) By the Consumers Frequency Percent 108 60 Yes 58 32.2 No 14 7.8 may be 180 100 Total Source: primary data Interpretation The above table 1 shows the frequency of the awareness of the term odd pricing and the relevant percent are of same. From the table we can infer that around 60 of people are indeed aware of the term odd pricing. The rest have not heard this term anywhere in their life. It has to be noted that this exercise has been conducted to know the awareness of the term in general. Correlation H0: There is no relationship between 99 looks better than 100 and small discounts. H1: There is relationship between 99 looks better than 100 and small discounts. Table 2 Represents Correlations

99 looks better than 100

99 looks better than 100

I really care about small discounts

1

.238**

Pearson Correlation

.001

Sig. (2-tailed) N I really care about small discounts

Pearson Correlation

180

180

.238**

1

.001

Sig. (2-tailed)

180 180 N Source: primary data Interpretation The above table 2 shows value of correlation and its significant level. It is clear from the table that the significant value is less than 0.05. Hence, it is inferred that there is a relationship between two variables. Chi-Square H0: There is no association between aware of the concept odd pricing and preference of discount. H1: There is no association between aware of the concept odd pricing and preference of discount.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table 3 Represents Chi-Square Tests Pearson Chi-Square

Value 15.526a

Df 4

Asymp. Sig. (2-sided) .004

Likelihood Ratio

17.170

4

.002

Linear-by-Linear Association

4.365

1

.037

170 N of Valid Cases a. 2 cells (22.2%) have expected count less than 5. The minimum expected count is 2.96. Source: primary data Interpretation The above table 3 shows the value of chi square and its significance level. It is clear from the table that the significant value is less than 0.05. Hence it is inferred that there is an association between the two variables. So, it indeed true that the people who are aware of the concept odd pricing may be prefer for the discounts. From the second table we can infer that the people chose yes for awareness of the term odd pricing are also chosen may for the preference of discount which is of 44 out of 180 respondents which is majority as shown in previous frequency analysis. III. FINDINGS From the analysis and its interpretation, the following has been found about the perception of psychological pricing.  The respondents of the study are predominantly male and are of the age group 20 –30. Majority of the respondents earn an income of below rs.20, 000 and their approximate monthly expenses is below rs.10, 000.  From the analysis in the previous chapter say that the majority of the respondents prefer quality rather than price or brand. Out of 180 respondents 137 said that they prefer quality.  77 Respondents feel that they get attract towards discount given by the shopkeeper‟s or by the product manufacturer.  Awareness of the concept odd pricing is quite good among the respondents however they are not completely aware of its components the term is not aware among the age of 40-50. This might be because this strategy has only been used in the recent times and hence the older section may not aware of the strategy.  The respondent where aware of the concept of odd pricing but still they say they may be attracted towards discount which is offered for the commodity psychological they want a discount even though they know it is the strategy used by the owners. This is analysed through the chi square test which recorded 44 of the respondents say that they are aware and maybe they get attracted towards discounts.  155 respondents said that they normally won‟t fix up a budget for their purchase but they also responded that sometimes final bill amount exceeds their assumption value of bill. This is somewhat surprising the respondents won‟t think of the least amount for the product but still they feel it exceeds their cash in hand.  Overall there is some effect of odd pricing in the point of consumer‟s the mean value for the 5-point liker scale has proved that the respondents agree to most of the effects. It is psychological attraction used on consumers by the retailers even though people knew about it still they would fall for the odd pricing.  On the analysis of perception on psychological pricing from the consumer‟s point of view it has been found that consumers: firstly, view it is a Company‟s policy to attract customers. Secondly consumers perceive that a difference of Rs.1 will not give customers any profit and thirdly consumers feel that psychological pricing depends on the quality or quantity of the product. Lastly it influences to have a trial or other variety of the product. IV. SUGGESTIONS  It is the task of the marketer to grab attention and educate the customer on the products that such pricing policy is an opportunity for customers to purchase and save money in purchases. Secondly company can communicate that products with such pricing policy is equally good in quality compared to other normal products otherwise such kind of policy will not get a good market for the brand in the long run. Thirdly offering discounts to customers is a company policy for increasing goodwill of the company.  Responsibility of keeping 1rupee change must be on the shopkeeper and hence laws on this requirement must be enforced in order to stop scams of looting 1 rupee from each customer which in end if the creates a huge amount to the retailers which ends up as unaccounted profit.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 V. CONCLUSION In today‟s competitive world psychological pricing plays a major role in the market. Since from consumer‟s perception it has been found that through psychological pricing there is a chance of increase in sales and it will also benefit the retailers to earn many consumers. Retailers can also attract and induce consumer to have a look or trial by displaying the products that are psychologically priced. Scope For Future Research Future research can be done to study the perception of consumers on psychological pricing related to specific product categories like apparels, electronic goods, shoes and the like as this report is limited to studying the overall perception of consumer. VI. REFERENCES 1. Ashworth, J., Heyndels, B. &Smolders, C. (2003), “Psychological taxing in Flemish Municipalities”, Journal of Economic Psychology, 24 (6), pp 741–762. 2. Agu and carter (2014). A Dynamic Model of Customers Usage of Services: Usage as an Antecedent and Consequence of Satisfaction; Journal of Marketing Research, 36. 3. Basu, K. (1997), “Why are so many goods priced to end in nine? And why this practice hurts the producers”, Economics Letters, issue 54, pp 41–44, 4. Bertini, M. and Gourville, J.T. (2012). Pricing to Create Shared Value; Harvard Business Review. 5. Bizer, George Y, Schindler & Robert M. (2005), “Direct evidence of ending-digit drop-9off in price information processing”, Psychology and Marketing, 22(10), pp 771- 783. 6. Kumar. S., & Pandey, M. (2017), “The impact of psychological pricing strategy on consumers‟ buying behaviour: a qualitative study”, International Journal of Business and Systems Research, volume 11, issue 1-2, due: 10.1504/IJBSR.2017.080843 7. Lovelock, C. H. (1996). Managing Services, Marketing, Operations and Human Resources. New Jersey: Prentice-Hall International. 8. Schindler R., M., Parsa, H. & Naipaul, G. (2011), “Hospitality Managers - Price-Ending Beliefs, A Survey and Applications”, Cornell Hospitality Quarterly, 52 (4), pp 421-428.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON EFFECTIVENESS OF ONLINE ADVERTISING WITH REFERENCE TO CHENNAI CITY RAGHAV NARASIMHAN Final Year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai - 600004 ABSTRACT Internet has always been a fast emerging medium in today’s world and it brings a lot of new scope in the area of marketing. One such thing is online advertising. Online advertising is different to traditional advertising by way of how many people it can reach in an instant and how cost effective it is. This study was aimed at finding the effectiveness and awareness of online advertising and to determine the types of advertisements that helped with purchase decisions and product recall. This study was conducted via the way of distributing questionnaires to 100 respondents of the Chennai city. These respondents were selected on a random basis. The data which was then collected was analysed with the use of SPSS software, Correlation, chi square and Likers scale analysis were used to find the difference or relationship between the variables. Findings showed that online users in Chennai were aware about online advertising and are also positively influenced by it. Analysis of advertisement type effectiveness showed that users preferred video based advertisements and also online advertisements that are presented vividly. Users also believe that the price displayed in an advertisement is what propels them to click on advertisements. The study determined that there is a positive relationship between purchase decision and online advertisements and further research into specific markets could help companies improve their online advertisements further. Keywords: marketing, advertising, online advertising I. INTRODUCTION Online advertising is a selling strategy that involves making use of internet as a medium to generate site traffic and mark and present marketing messages to the right customers.. An important benefit of internet marketing is the fastest promotion of product information without geographic boundary limits. A significant challenge could be the developing domain of interactive advertising, which poses new challenges for online advertisers. Examples of internet marketing include banner adverts, search engine results pages, social networking ads, email spam, online classified ads, pop-ups, contextual ads and spyware. Online Advertising encompasses all of the features of offline advertising; it is more beneficial than offline or print media because its scope is too high and can reach throughout the globe as a result of internet. Customization is possible in online ad campaigns in content, time and targets. And it is less costly than print advertising II. OBJECTIVES OF THE STUDY 1. To ascertain the awareness and importance of online marketing as an advertising instrument 2. To find out whether age is a factor in determining the preference of advertising 3. To find the effectiveness of online advertising in comparison with other kinds of marketing 4. To ascertain the effectiveness of different types of online advertisements that are used Need for the Study The world has always moved fast with innovations coming at a rapid rate, in this day. With the advent of the internet many new avenues have been opened in terms of marketing and advertising. Advertising has completely changed with the recent trends in technology and the internet is a major factor in contributing to this change. This study will help in determining how effective internet ads are in relation to specific age groups and how advertisers can customize their ads according to the demographics of the consumer base. Scope of Study Online advertising is a subject that has a plethora of applications in the modern society, many utopian fantasies are reachable with modern technology, the reaches of marketing is only increasing. Considering that, the scope of this study extends to a global level. Advertising has always been a global topic and any research on advertising and its subjects could help in effective selling of products to consumers. This is also a creative field where innovation is a dynamic that repeats itself on a regular basis. Hence new studies will help in enhancing the features and methods through which online advertising can improve. Adapting to recent technological trends has also become a necessity to survive in the modern world and advertisement is a prime example of this. Limitations of Study 1. The scope of this study is only related to Chennai. 2. The sample size taken is only around 100 respondents. Results might change with a much larger sample size. 3. Peopleâ€&#x;s opinion on advertising has generally been negative, this might impact the study.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

4.

This study is also impacted by lack of technology and technological understanding in the prevalent areas that the research is based on. Review of Literature Past literature is analysed to determine consumer behaviour, ad click through rate and brand recall. 1. H. Ducoffe, R. (1996) examined that the growth of advertising on the World Wide Web requires research on users's general perceptions since these affect attitudes toward individual advertisements. This research presents results of an survey that focuses on the perceived value of Web advertising, an approach developed by the researcher for assessing advertising in the general media. The author delved deep into the hypothesized model of advertising value and its role as a determinant of the attitude of all the audiences. These assumptions were confirmed showing that attitude towards web advertising changes. The researcher observes that advertising value is a useful tool for evaluating advertising effects in case of the web. 2. Peter J. Danaher and Guy W. Mullarkey (2003) in their „factors affecting online advertising recall‟ talk about how internet advertising is dependent on the length of the advertisements and the longer the banner ads are displayed, the higher the chances of an individual remembering it, they also suggest how web users with specific agendas do not recall ads even when displayed for a prolonged period of time. 3. Océane Chéoux-Damas Marius Le Floch (2014) (advertising overload) stated that online advertisements do offer a positive response in terms of purchase intention but intrusiveness of ads also result in ad irritation which affects purchase intention. Overall, we found that the impact of the perceived intrusiveness on the purchase intention was negative. The study also suggests that different formats of intrusiveness offered different results both positive and negative. Theoretical Framework Table 1 ISP licenses issued ISP licenses surrendered Existing ISP licensing Operational ISP Cities covered Cyber café/public areas Internet subscribers Operational international getaways Estimated employment provided Total investment made on ISP Estimated investments made on equipment‟s by ISP Approval for setting up ISP ITSP licensing issued

600 198 450 250 400 approx 12200 approx 4.2 million 65 approx 1,150,000 Rs 6000 crore Rs 2500 crore 100 + 100

Graph 1

As you can observe there has been a rapid growth of internet in India especially since 2015. The overall estimate of people using the internet in India can be noted as 699 million. This helps in understanding the huge base present for advertisers that want to engage in online advertising. This, along with additional licensing issued and the number of IPS‟S tht have popped up during this time shows how large the user base is for online advertising. Growth of internet in India over the past decade has been monumental.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

Data Analysis and Interpretation The data collected via the questionnaire was analysed to show various results. The analysis was conducted via the use of primary data. A sample size of 100 respondents were taken. This chapter helps in analysing all the various data we have collected using SPSS software. the following analysis were conducted: Analysis Conducted  Percentage analysis  Likerts scale  Correlation  Chi square Graphical Representation Graph 2

Interpretation : From the above graph it can be interpreted that majority of the users (48%) prefer online advertisements in comparison to other types of advertisements followed by televised advertisements at 32% and 14% prefer newspaper advertisements and only 6% prefer advertising through pamphlets. Chi Square Analysis Null hypothesis H0: There is no significant relationship between age and preference in type of advertisements Alternative hypothesis H1: There is significant relationship between age and preference in type of advertisements Chi-Square Test 1 Table 2 (Source: Primary data) Value df Asymp. Sig. (2-sided) Pearson Chi-Square 17.128a 9 .047 Likelihood Ratio 19.618 9 .020 Linear-by-Linear 1.862 1 .172 Association N of Valid Cases 100 Interpretation: NULL HYPOTHESIS IS ACCEPTED. Since the significance level (0.20) is below 0.05 it can be interpreted that the null hypothesis is accepted Chi square tests show us that there is significant relationship between age and preference of advertisements.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

Correlation Analysis Correlation test 1 Table 3 (Source: Primary data) Awareness regarding Online advertising

Pearson Correlation Sig. (2-tailed) N Pearson Correlation Sig. (2-tailed) N

Awareness regarding Social media advertising

.705** .000 100 1

1 100 .705** .000 100

100

Interpretation: The significance level is below .000 and it is significant at the 0.01 level. Pearson‟s correlation is .705. This shows that there is a direct positive correlation between awareness of online marketing and social media advertising. Hence it can be interpreted that the two variables are correlated Likerts Scale Analysis Table 4 Types of Advertisement

5

4

3

2

1

Total

Mean Score

rank

33*5 36*4 23*3 6*2 2*1 = 165 = 144 = 69 = 12 = 2 392 3.92 2 11*5 37*4 39*3 12*2 1*1 Homepage ads =55 = 148 =117 = 24 = 1 345 3.45 4 9*5 16*4 41*3 25*2 9*1 Email ads = 45 = 64 =123 = 50 = 9 291 2.91 5 Social media 31*5 43*4 23*3 2*2 1*1 Ads = 155 =172 =69 =4 =1 401 4.01 1 13*5 47*4 30*3 7*2 3*1 Display ads = 65 =188 = 90 =14 =3 360 3.60 3 Interpretation: From the above likert scale analysis it can be inferred that the respondents believe that social media advertisements are the most effective advertisements in influencing a customer to buy a product, the respondents also believe that video ads are effective but not as much as advertisements on social media sites. Display ads come in rank 3 with a score of 3.60 which suggests that they are also moderately effective. The respondents believe email advertisements and homepage advertisements are the least effective forms of online advertisements and they prefer it less. III. FINDINGS  Majority of the respondents are male at 59% and females at 41%  Majority of the respondents are 20 to 40 years old (44%)  Majority of the respondents are also students (52%)  It can be seen that majority of the respondents (48%) prefer online advertising compared to other types of advertising.  Majority of the respondents (79%) have bought products online by getting influenced through online advertisements.  Majority of the respondents (52%)prefer their advertisements to be random or general compared to their search history  Majority of the respondents (48%) believe in online advertisements more than televised or any other form of advertisements.  Correlation analysis: it states that most people are aware about online advertising and it also has a direct correlation to social media advertising.  Likerts scale analysis: it shows that respondents prefer to look at social media adverts the most followed by video advertisements.  Chi-square analysis: it can be inferred that age and type of preference in advertisements are related to each other. Video ads

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

IV. SUGGESTIONS  Online advertising is the most preferable mode of advertising according to consumers and he advertisers should focus on improving their online advertisements and try to incorporate more advertisements online compared to advertisements that are televised or physical  Advertisers should focus their attention on social media advertisements the most as there is high consumer traffic and high click through rate. focusing on social media advertising helps in advertisers getting a lot of consumers compared to other websites or etc  Online advertising is a heavily competitive market and hence advertisers should ensure that they use the space effectively and with specifics in point. They must also ensure that they look at consumer objectives or else it will be tough for them to connect with the present trope of online consumers  Advertisers should also ensure that visited websites are secure and safe. Consumers who are affected by malware generally blame advertisements for it and this shows a negative decline of trust in online advertisements  Sponsorship based advertising is not big in India or Chennai, the advertisers could tap into that source as it has a lot of potential. Instagram, facebook, snapchat users could be sponsored to reach consumers. This helps in providing a loyal customer base and ensures that people buy products.  Net users also believe that video ads are the most effective in attracting them in advertisements, advertisers can ensure that they focus their attention on improving these types of ads. Studies show that users also prefer advertisements with good presentation more than anything and advertisers can use this information to entice people to watch their advertisements. V. CONCLUSION Online advertising is one the most prominent types of advertising, it opens up new arenas of creativity and innovativeness in the field of marketing. Even though the online advertising space is highly saturated with many competitors, it still acts as the largest consumer base for targeted advertising. Advertisers should ensure that adverts targeted to consumers are safe and also should try not to make the advert experience intrusive. All of this ensures that there is huge scope for online marketing in the coming years with rapid advancement in internet technology and virtual experiences. VI. REFERENCES Websites 1. https://www.scribd.com/doc/47913751/effectiveness-of-internet-advertising 2. https://brandongaille.com/20-pros-and-cons-of-internet-advertising/ 3. https://economictimes.indiatimes.com/definition/advertising 4. https://www.perion.com/blog/8-types-online-advertising-need-know/ 5. https://www.compukol.com/the-impact-of-social-media-on-advertising/ 6. https://www.fieldboom.com/likert-scale 7. https://surveysystem.com/correlation.htm 8. https://www.statisticssolutions.com/using-chi-square-statistic-in-research/ 9. https://www.jstor.net 10. https://researchgate.net Other References Journals 1. Peter J. Danaher, Guy W. Mullarkey.”Factors Affecting Online Advertising Recall: A Study of Students”, Journal of Advertising Research Sep 2003, 43 (3) 252-267; DOI: 10.2501/JAR-43-3-252267 2. Author: Océane Chéoux-Damas Marius Le Floch (2014) “A quantitative study on the impact of the perceived intrusiveness of online advertising on the purchase intention “ 3. H. Ducoffe, R. (1996). Advertising Value and Advertising on the Web. Journal of Advertising Research. 36.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON EMPLOYEES’ PERCEPTION ON GREEN BUSINESS PRACTICES WITH SPECIAL REFERENCE TO TATA CONSULTANCY SERVICES, CHENNAI B. KARTHIKEYAN Final Year, Department of Accounting and Finance Ramakrishna Mission Vivekananda College Evening College (Autonomous) Mylapore, Chennai-600004 ABSTRACT In a world where corporate and businesses are growing keen towards tailoring their Brand Culture in order to effectively boost their Brand Equity, consumers are provided with enumerable options to take wellinformed choices. While the businesses are focusing on building their own unique culture, it is essential that they beware of the next big turn in the stakeholders’ interests. More and more people, as individuals and social institutions, are starting to recognise the nature’s call of duty in preserving the environment. Adopting greener working practices that prioritize creating a more sustainable business that is more eco-friendly is becoming a mainstream concern for small businesses. Not only can crafting sustainable practices help businesses save money on the likes of energy bills, but it also ensures a business adapts a more environmentallyresponsible reputation study is concentrated in bringing to light the various ‘Green Business Practices’ undertaken by Tata Consultancy services that are driven by a social responsibility to ensure sustainable development and further efforts in understanding and promoting the various dimensions of prevalent Green Business Practices. Keywords: Green Business Practices, Employees Perception, Business, Environment - Responsibility. I. INTRODUCTION  While the businesses are focusing on building their own unique culture, it is essential that they savour the next big turn in the stakeholders’ interests. More and more people, as individuals and social institutions, are starting to recognise the nature’s call of duty in preserving the environment.  Green business practices that maintain and sustain good environmental quality are increasingly becoming a vital component of economic competitiveness. Adopting greener working practices that prioritize creating a more sustainable business that is more eco-friendly is becoming a mainstream concern for businesses.  The word 'sustainability' was originally used in forestry on account of scarcity of wood. Forests had been devoured for the purpose of excavation, for mining ores and for the charcoal-fired smelting furnaces. This attitude of being oriented to short-term profits was criticized as it destroys prosperity.  Corporate world plays an important role in the process of such development and therefore they should take efforts for sustainable development and should communicate it to the stakeholders through Sustainability Reports. II. OBJECTIVES  To evaluate the corporate efforts undertaken towards sustainable development in Tata Consultancy Services  To understand the employees’ perception on Green Business Practices in the millennium era, with special reference to Tata Consultancy Services  To idealise and spread awareness on the possible ways of Environment-friendly practices Statement of the Problem  While the businesses are focusing on building their own unique culture, it is essential that they savour the next big turn in the stakeholders’ interests. More and more people, as individuals and social institutions, are starting to recognise the nature’s call of duty in preserving the environment.  Green business practices that maintain and sustain good environmental quality are increasingly becoming a vital component of economic competitiveness. Adopting greener working practices that prioritize creating a more sustainable business that is more eco-friendly is becoming a mainstream concern for businesses.  Not only can crafting sustainable practices help businesses save money on the likes of energy bills, but it also ensures a business adapts a more environmentally-responsible reputation. The notion of “green business” was roused up by the growing awareness of environmental issues such as accelerating depletion of natural resources and the deterioration of environmental quality.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Review of Literature Iain J. Chelland, Thomas J. Dean and Thomas J. Douglas (2000) identified that central to the movement of organisations toward environmental sustainability is financial viability and environmental effectiveness of the techniques for improving environmental performance. While Waste-Minimisation Practices (WMPs) have been touted as a key element in moving manufacturing organisations toward sustainability. In the array of ecologically sustainable business practices, it appears that WMPs provide immediate environmental and operational benefits and build momentum for further steps toward environmentally sustainable economic development. Hsien H. Khoo, Trevor A. Spedding, Ian Bainbridge and David M.R. Taplin (2001) presented a case study of a supply chain that is concerned with the distribution of aluminium metal, starting from procuring the raw material to showcasing the end-product in the market. The authors created a green supply chain by integrating the concerns of transport pollution, marketing costs, time to market, recycling of scrap metal and energy conservation. Roger Munger (2008) described the environmental harm caused by paper consumption and printing processes. The author provides strategies for selecting environmentally responsible printers, papers, and inks as well as reducing or eliminating paper consumption. Audrey Watson (2013) pointed out that three-quarter of global business enterprises established after 2010 used at least one green technology or practice to make their production processes more environmentally friendly. More than half of them took steps to reduce or eliminate creation of waste materials as a result of their operations. Approximately 1 in 5 used technologies or practices to conserve natural resources such as soil, water, or wildlife. Information and educational services were among the industries with the highest incidence of green technologies and practices. Booi Chen Tan, Teck Chai Lau, Gun Fie Yong, Nasreen Khan and Thi Phuong Lan Nguyen (2017) channelized their efforts to understand restaurant operators’ perception towards adoption of green practices that could contribute to optimise and streamline future operations of the restaurant business for the greater good. The authors used a qualitative approach through face-to-face interviews. Company Profile Tata Consultancy Services Tata Consultancy Services Limited (TCS Ltd.) is an India based Multi-National Company (MNC) providing Information Technology (IT) services, consultancy and advisory. The company has its headquarters stationed in Mumbai, Maharashtra. It is subsidiary wing of the Tata Group, which currently actively operating in over 45 countries across the globe. Tata Consultancy Services has made significant investments in Digital platforms and products spanning Technology Products, Horizontal Platforms and Products, Vertical Platforms and Products. Vision Ensure the highest levels of certainty and satisfaction through a deep-set commitment to our clients, comprehensive industry expertise and a global network of innovation and delivery centres. The company seeks to provide an engaging experience that would showcase its capabilities, attract talent, and provide the best and relevant services to its customers and investors. Mission To help customers achieve their business objectives by providing innovative, best-in-class consulting, IT solutions and services and to make it a joy for all stakeholders. As a dynamic, customer-centric organization, TCS wants to revamp its processes to reflect its vibrant, engaging, technologically advanced, and collaborative vision. Data Analysis and Interpretation Percentage Analysis Table: 1 Awareness on Green Business Practices Awareness Aware Unaware TOTAL

Frequency 62 38 100

57

Percentage 62 38 100

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Chart: 1 Awareness on Green Business Practices

Awareness 38% Aware Unaware 62%

Interpretation From the above table 1 it is clear that about 62% of the respondents seem to be aware of the Green Business Practices undertaken at TCS. However, 38% of the respondents reported negatively to the question on awareness of Green Business Practices. Chi-Square Analysis Hypothesis: 1 Null Hypothesis: The unequal distribution of questionnaires between respondents of different age groups does not affect the results on awareness about Green Business Practices. ALTERNATE HYPOTHESIS: The unequal distribution of questionnaires between respondents of different age groups does affect the results on awareness about Green Business Practices. Degree of Freedom: 3 Critical Value: 7.815 Table 2 Expected values (E) 0 27.9 21.7 12.4

Observed Values (O) 0 26 24 12 Chi-Square Value

O–E

(O – E)2

0 -1.9 2.3 -0.4

0 3.61 5.29 0.16

(O – E)2 E 0 0.129 0.244 0.013 0.386

Interpretation From the above table 2 it is clear that the Chi-Square Value of 0.386 is lower than the Critical Value of 7.815, the Null Hypothesis is accepted and the Alternate Hypothesis is rejected. It is inferred that the unequal distribution of questionnaires between respondents of different age groups does not affect the results on awareness about green business practices. Hypothesis: 2 Null Hypothesis: The unequal distribution of questionnaires between respondents with different educational qualifications does not affect the results on awareness about Green Business Practices. Alternate Hypothesis: The unequal distribution of questionnaires between respondents with different educational qualifications does affect the results on awareness about Green Business Practices. Degree of Freedom: 3 Critical Value: 7.815 Table 3 (O – E)2 Expected values (E) Observed Values (O) O – E (O – E)2 E 4.96 1 -3.96 15.682 3.162 26.04 26 -0.04 0.002 6.140 18.60 18 -0.60 0.360 0.019 12.40 17 4.60 21.160 1.706 CHI-SQUARE VALUE 4.887

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation From the above table 3, it is clear that the Chi-Square Value of 4.887 is lesser than the Critical Value of 7.815, the Null Hypothesis is accepted and it is inferred that the unequal distribution of questionnaires between respondents with different educational qualifications does not affect the results on awareness about Green Business Practices. Hypothesis: 3 Null Hypothesis: The unequal distribution of questionnaires between respondents of varied income categories does not affect the results on awareness about Green Business Practices. Alternate Hypothesis: The unequal distribution of questionnaires between respondents of varied income categories does affect the results on awareness about Green Business Practices. Degree of Freedom: 3 Critical Value: 7.815 Table 4 (O – Expected values Observed Values O– (O – E)2 (E) (O) E E)2 E 18.60 12 -6.60 43.56 2.342 19.22 14 -5.22 27.25 1.418 16.12 24 7.88 62.09 3.852 8.06 12 3.94 15.52 1.926 CHI-SQUARE VALUE 9.538 Interpretation From the above table 4, it is clear that the Chi-Square Value of 9.538 is higher than the Critical Value of 7.815, the Null Hypothesis is rejected and it is inferred that the unequal distribution of questionnaires between respondents of varied income categories does affect the results on awareness about Green Business Practices. III. FINDINGS  Since the Chi-Square Value of 0.386 is lower than the Critical Value of 7.815, the Null Hypothesis is accepted and the Alternate Hypothesis is rejected on the basis of different Age Groups  Since the Chi-Square Value of 4.887 is lesser than the Critical Value of 7.815, the Null Hypothesis is accepted and the Alternative Hypothesis is rejected on the basis of different Educational Qualification  Since the Chi-Square Value of 9.538 is higher than the Critical Value of 7.815, the Null Hypothesis is rejected and Alternate Hypothesis is accepted on the bias of different varied income categories IV. SUGGESTIONS  It is inferred that the unequal distribution of questionnaires between respondents of different age groups does not affect the results on awareness about green business practices.  It is inferred that the unequal distribution of questionnaires between respondents with different educational qualifications does not affect the results on awareness about Green Business Practices.  It is inferred that the unequal distribution of questionnaires between respondents of varied income categories does affect the results on awareness about Green Business Practices. V. CONCLUSION From this research, it is concluded that employees feel proud and privileged to be part of any organization which creates them an opportunity to contribute to the environmental sustainability. Green Culture is an aspiration for corporate employees, amongst whom the need for green practices and awareness on environmental sustainability are steeply rising of late. Further, it is also understood that concepts like Paperless Environment, Green Lighting and Reduce – Reuse – Recycle are already established in Indian companies. Yet, there is a wide scope for Engaging and Live events that can be conducted to motivate and encourage their employees in experiencing and contributing to a sustainable environment through many such green business practices.With the increasing awareness on global warming and climatic changes, more and more employees are looking forward to having green and clean workstations, however it also involves a lot of cooperation from peer level as well as superior levels of co-workers.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

VI. REFERENCE 1. Clelland, Iain & Dean, Thomas & Douglas, Tj, “Stepping Towards Sustainable Business: An Evaluation Of Waste Minimization Practices In US Manufacturing. Interfaces”, No. 30, 2000, Pp.107124. 2. Khoo, Hsien H., Et Al. “Creating A Green Supply Chain”, Greener Management International, No. 35, 2001, Pp. 71–88. 3. Munger, Roger. “Green Printing: A Guide To Environmentally Responsible Printing.” Technical Communication, Vol. 55, No. 1, 2008, Pp. 9–22. 4. Watson, Audrey. “Green Technologies And Practices: A Visual Essay”, Monthly Labor Review, 2013, Pp. 36–48. 5. Tan, Booi Chen & Lau, Teck-Chai & Yong, Gun-Fie & Khan, Nasreen & Phuong Lan Nguyen, Thi, “ A Qualitative Study Of Green Practices Adoption For Restaurants In Malaysia”, Social Responsibility Journal, 2018.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON FACTORS INFLUENCING CONSUMERS IMPULSE BUYING BEHAVIOUR WITH REFERENCE TO CHENNAI R. SARAN Final Year, Department of Accounting And Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous) Mylapore Chennai-600004 ABSTARCT Marketing is the business procedure of making associations with and fulfilling clients. With its attention on the client, advertising is one of the chief segments of business the executives. Today’s competitive world is unpredictable about the future, thus to cope up with the drastically changing environmentit’snecessary forever seller to attract their valuable consumers. To attract consumer it becomes essential for sellers to understand the consumer’s behavior. Consumer behavior is how one potential buyer reacts to the particular situation of buying products with the available money. Consumer also considers other factors such as discounts, offers and other factors that become essential for decisionmaking.This project helps to fin doubt the most influencing factors that makes consumer to opt for impulse buying behavior. It also provides with valuable suggestions to the sellers to make their business to work effectively and efficiently and to gain maximum benefit. This research is carried on with primary data. To make analysis of the current trend prevailing in the market questionnaire is distributed among various class of people based on age, income level and other demographic factors. To analyses the data various statistical tools .The research is of descriptive nature. Based on the respondents the analysis is carried out and the findings are derived. Keywords: Marketing, Consumers, Impulse, Buying Behavior, Product. I. INTRODUCTION Impulse purchasing has been characterized bay few analysts and given different meanings of impulsive purchasing. Impulse purchasing is an spontaneous choice to purchase an item or administration, made just before a buy. As indicated by rook (1985) imprudent purchasing is a sudden, frequently ground-breaking and determined inclination to purchase something quickly. It is more enthusiasm stitching reasonable. Stern(1962)sub dividing drive buy into four classes like pure indiscreet purchasing, It is an peculiarity or departure buy where a passionate inters starts a craving to consume, which breaks a typical purchasing behavioral testis pulse purchasing results from a foreordained need that was incited after experiencing the thing while at the same time shopping, for example when the purchaser sees a thing that triggers a memory that their supply at home is low or totally devoured. II. OBJECTIVES 1. To study the impulse buying behavior of the consumers. 2. To identify the factors which lead people to go for impulse buying? 3. To ascertain among which category of products, impulse buying is popular and among what kind of products planned buying is popular. 4. To understand people’s mentality at the time of and after their impulse purchase. 5. To measure the level of satisfaction of the respondents after making an impulse purchase. 6. To offer suggestions based on the findings. Review of Literature Clover (1950) "Relative Importance of Impulse-Buying in Retail Stores" He was the first to think about drive purchasing blend and brought up that some item classifications are progressively sold on motivation. The article covers motivation purchasing in retail locations. The creator centers around an examination exploring the retail exchange of three Texas people group amid two 'gas occasions' in 1948, amid which all retail foundations situated in the three cities were contacted to stay shut. The consequences of the investigation demonstrate that stores which were increasingly subject to customers' motivation buys were more averse to compensate for the deals relinquished amid the 'gas occasions.' It is recommended that the high level of lost deals for the weeks influenced by the occasions shows the significance of drive purchasing to retailers. Peter Weinberg and Wolfgang Gottwalt (1979) "Imprudent Consumers Buying as A Result of Emotion" The idea of drive purchasing is examined and portrayed as enveloping buys with high passionate initiation, low intellectual control, and a to a great extent receptive conduct. They led the examination to research whether feelings causing drive purchasing can be recognized observationally by meeting information and perception of insignificant dictions of buyers and non-purchasers. They watched the shopper conduct by an example study of 1020 polls of which 318 demonstrated assumed purchasers and 702 assumed non-purchasers. Factual instruments utilized for this investigation is relationship and relapse, factor examination. They found that incentive purchasers review themselves as being added emotionalized than non-purchasers. Motivation purchasers contrast essentially in their medical articulations from non-purchasers. Data preparing has an impact in the purchasing choices.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Yu and Bastin (2010) contemplated the impact of in-store Point of Purchase (POP) blurbsin grocery stores and discovered them to instigate drive buy practices and savvy. In-store upgrades are limited time systems utilized to expand motivation purchasing of items. A few instances of these systems incorporate in to store settings, on-rack positions, cost off advancements, inspecting, POP shows, coupons, and in-store exhibit .Motivation purchasing shift several wades cope item classifications which incorporate garments, books and types of gear for activities. Ramesh Chaturvedi (2015) portrayed that Impulse purchasing alludes to quick buys which are with no pre-shopping objective either to buy the particular item classification or to satisfy a particular need. They watched buyers conduct by gathering samples. They clarified that the drive purchasing conduct happens in the wake of encountering a purchasing want by the customer and absent much reflection. The purchasing of a thing which is out-of-stock and reminded amid experiencing the item are rejected from the domain of drive purchasing

Analysis And Interpretation 1.Weighted Arithmetic Mean Table 1 Table Showing Weighted Average Analysis Studying the Mentality of People at the Time of Impulse buying FACTORS After making an impulse purchase I feel regret I am lessconcerned with price while making impulse buying Brand matters While making impulse buying Making an impulse buying sometimes leads to skipping the product we actually intended to Buy Do you carry extra cash for making impulse buying

5 5*5

4 26*4

3 37*3

2 5*2

1 0*1

TOTAL

MEAN

RANK

25 8*5

104 19*4

111 24*3

10 16*2

0 6*1

250

16.66

IV

40 14*5

76 37*4

72 19*3

32 3*2

6 0*1

226

15.06

V

70 12*5

148 28*4

57 24*3

6 7*2

0 2*1

281

18.73

I

60

112

72

14

2

260

17.33

II

14*5

22*4

28*3 6*2

3*1

70

88

84

3

12

257

17.13

III

Interpretation The above table No1 indicate that most of the respondents strongly feel that brand matters while making an impulse buying and sometimes leads to skipping the product which they actually intended to buy for reasons like inadequate cash, and there is a very less inclination towards price with respect to impulse buying. Chi Square analysis a) Table showing relationship between gender and impulse buying behavior of the respondents b) Null Hypothesis (H0): There is no relationship between gender and the impulse buying behavior of the respondents. Alternate Hypothesis (H1): There is a relationship between gender and the impulse buying behavior of the respondents. Chi-Square Tests Table 2 Value df Asymp. Sig. (2-sided) Pearson Chi-Square 77.591 4 .000 Continuity Correction(a) 2.040 1 .153 Likelihood Ratio 13.977 4 .007 Linear-by-Linear Association 3.695 1 .055 N of Valid Cases 100 Interpretation: Since the computed value (0.000) is less than level of significance (0.05), the alternate hypothesis is accepted. Therefore, there is relationship between gender and impulse buying behaviour of the respondents b)Table shows relationship between annual income and place of buying of therespondents Null Hypothesis (H0): There is no relationship between annual income and the place of impulse buying of the

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 respondents Alternate Hypothesis (H1): There is a relationship between annual income and the place of impulse buying of the respondents. Chi-Square Tests Table 3 Value Df Asymp. Sig. (2-sided) Pearson Chi-Square Likelihood Ratio Linear-by-Linear Association N of Valid Cases

83.980 23.007 1.243

20 20 1

.000 .288 .265

100

Interpretation: Since the computed value (0.000) is less than level of significance (0.05), the alternate hypothesis is accepted. Therefore, there is relationship between annual income and the place of impulse buying of the respondents. 2. Liker Scale analysis Table 4 Table Showing Likert’s Scaling Analysis of the Factor Which Mostly Influences the Respondents to Buy Impulsively

Factors

5

Iam Excited to Purchase A New Product

4

23*5 24*4 22*3 115

I Buy Only What Is on My Shopping List

3

96

2

1

4*2

0*1

8

0

66

8*5

29*4 21*3 13*2 2*1

40

116

63

I Like to Purchase A Product If It is 14*5 31*4 22*3 Appealing 70 124 66

26

2

4*2

2*1

8

2

Total

Mean Rank Score

285

3.904

2

247

3.383

4

270

3.698

3

It Is Important to Consider All Alternatives 30*5 30*4 13*3 0*2 0*1 Before 309 4.232 1 Purchasing An Item 150 120 39 0 0 Interpretation: The above table represent the likert scale analysis which shows the factors which induces the respondents to make an impulsive buying. In which, we can find that though they are very much excited to buy on impulse, but still they strongly feel that it is very much essential to consider all alternatives before doing so. And it is also to be noted that, they don’t strictly go by their shopping list. 4regressionanalysis Table 5 Influencing Factors

Level of Influence

.Low Cost

0.050

Promotional Schemes

0.015

By Seeing Others

0.697

Seen First Time and Picked Up

0.002

First Sight Attraction

0.011

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Discount Offer

0.000

Attracted By Window Display Watching Ad(To Buy Latest) Salesmen Explanation or Demo

0.015 0.007 0.342

Interpretation The above tables show the value of beta and its significant value .It is clear from the table that the variables such as low cost, promotional schemes, seen first time and picked up, first sight attraction, discount offer regarding product, attracted by window display and by watching ad (to buy latest) have significant value of less than 0.05.hence it is inferred that these factors influence the consumers for impulse buying behavior. III. FINDINGS General Findings General findings are based on percentage analysis. By applying percentage analysis, following findings have been obtained:41.1%) are in the age group between 21-30 years.

no. of respondents (69.7%) go for impulse buying in case of chocolates and maximum no of planned buying (77.9%) happens in case of hygiene articles. Specific Findings: Likert Scale Technique Likert scale shows the factors which induces the respondents to make an impulsive buying. Favorable Factors: The respondents feel that it is very much essential to consider all alternatives before doing an impulse buying. Mediocre Factors: They feel that they like to purchase a product if they are excited and it is appealing. Unfavorable Factors: The respondents are least preferred to strict themselves to their shopping list. Chi-Square Analysis  There is relationship between gender and impulse buying behavior of the respondents  There is relationship between annual income and the place where the respondents do their impulse buying. Regression (Linear) Analysis FACTORS INFLUEINCING THE IMPULSE BUYING BEHAVIOR OF THE RESPONDENTS: Strong Influence:  Discount offers regarding the product  Seen 1sttime and picked up

 

By watching recent AD’s(to buy latest) First sight attraction Moderate Influence:  Promotional schemes  Attracted by window display  Low cost Low Influence:  Salesmen demo  By seeing others Weighted Average Analysis: 1.Most of the respondents strongly feel that brand matters while making an impulse buying and sometimes leads to skipping the product which they actually intended to buy for reasons like inadequate cash etc. 2.They moderately feel that they carry some extra cash for doing their impulse buying.3. On a very lower rate they feel regret after making an impulse buying and also they are very less concerned with price while making an impulse buying.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 IV. SUGGESTIONS  Moremarketingtechniquescanbeadoptedtoinducethebuyingbehaviourofmalepopulation.  Quality of products can be improved to make the people to do impulse purchase.  More attractive and innovative ideas can be followed to increase the impulse of buyers.  Variedproductsatdifferentpricelevelscanbemadeavailabletoincreasetheimpulsebuying among all kind of customers.  Other reasons like discounts, offers and pricing strategies can also be looked into for impulse purchase decision.  Advertisements can be made more educative to know about the product as that may also lead to attract impulse buying of the customers. V. CONCLUSION With expanding rivalry, retailer send eave our to guarantee that their store sires peaking to their objective markets. As retailers are thinking that it’s expanding hard to make a differential favorable position, this tore it self assumes an imperative job. Bethatasitmay, store window show likewise assumes a vital job in the customers' choice regardless of whether to enter the store. “Impulse Buying is a sudden and prompt buy with no pre-shopping goal either to purchase the particular classification or to satisfy a particular purchasing undertaking. “Ongoing exploration here of impulse purchasing has treated drive purchasing as a characteristic as opposed to an order of a buy choice. the aftereffect of the present investigation demonstrates that visual marketing, pay, commercial and deals advancement have some impact over the respondents for drive buy choice. At the point when customers are presented to these boosts, they are bound to settle on buy choice on drive. This proposes the visual marketing works on, fillinginas improvements that incite a longing which eventually inspires a buyer to settle on an impromptu buy choice after entering the store, fundamentally impact shoppers' motivation purchasing practices. Overall, various internal and external factors affects the impulse buying behavior of the consumer. VI. BIBLIOGRAPHY BOOKS 1.L.Natrajan, Marketing Management, Margham Publications. WEBSITES 1. https://studiousguy.com/sources-of-data-collection/ 2. https://businessjargons.com/secondary-data-collection-methods.html 3. https://bishalbhattarai.blogspot.com/2012/ 4. https://www.slideshare.net/Malko29/pradhan-mantri-jan-dhan-yojana-54508392 5. http://shodhganga.inflibnet.ac.in/bitstream/10603/31769/12/12_chapter%205.pdf 6. http://shodhganga.inflibnet.ac.in/bitstream/10603/22956/11/11_chapter%203.pdf 7. http://shodhganga.inflibnet.ac.in/bitstream/10603/7929/7/07_chapter%202.pdf

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON HUMAN RESOURCE RECRUITMENT AND SELECTION PROCESS WITH SPECIAL REFERENCE TO IT INDUSTRIES R. SAI YUKESH Final Year, Department of Accounting and Finance Ramakrishna Mission Vivekananda College Evening College (Autonomous) Mylapore, Chennai – 600004. ABSTRACT “It is usually the people who contribute for the success of any Organisation”. This is universally accepted because without the role of Human Resource, the success of an organisation cannot be determined. As the provision for contingency of closure of any business is always present, it is very much essential for the Human Resource Department to allocate proper personnel so as to initiate the step – by – step growth of the company. Human resource Management is a comparatively growing profession which deals with people and is based on various disciplines. The Return of any sector can be relatively related with the proper Recruitment and employment of Resources. The Role of Recruiter upon Selection is a huge task which directly attributes to the functioning of the Organisation. This study predominantly focuses on the Recruitment and Selection Process carried on in IT Industries. Key Words: Human Resource, Recruitment, Recruiter, IT Industry. I. INTRODUCTION Human Resource Management is a planned approach to the effective and efficient management of organisation employees so that they aid the business advantage to achieve a competitive advantage. HR is primarily involved in the management of individuals among organisations, aiming on policies and on systems. HR department is accountable for overseeing employee-benefits design, employee requirement, employee recruitment, training and development, performance appraisal, and rewarding (e.g., managing pay and benefit systems). The names ‘Human Resource Management’ and ‘Personnel Management’ are being used interchangeably by many. When employed in wider sense, the term human resource management refers to the task of handling people who belong to the different strata of the society. In other words, the term personnel management, even when used in a broader sense, refers to the task of managing the employees of a concern. Thus, it becomes clear that the term human resource management has larger scope than the term personnel management. II. OBJECTIVES  To understand about the Internal and External Recruitment process in IT Industries.  To know about the Role of Recruiter in IT Industries.  To know about the different types of selection processes in IT Industries.  To identify the areas of scope of improvement in IT Industries. Statement of the Problem The recent trend in IT Industries are that the resources are being automated i.e. Machines are being substituted in the place of Human Resources. It is because there are more Engineering graduates being graduated during the year 2018 in India. There is a question that are they all employed? The answer is no because the IT Industries are not able to allocate all the candidates as each candidate specialise in different aspect. So, it is the role of Human Resource Department and Recruiters to select the right personnel for the right job designation. Despite the graduation of candidates from different disciplines, the Human Resource Departments are not able to employ since there is prevailing a statement that majority of engineers in India are not fit for software development jobs. Thus, this is the current problem existing in IT Industries. Review of Literature In a scientific study conducted by Brigadier. P.K. Saxena, (2011) the researcher used variables and these variables were scientifically tested and it resulted that recruitment and selection of the candidates was based on the policies and vision of individual IT Software Concerns. Also, these sectors would make quality and effective selection in the upcoming years he mentioned. In a study conducted by GajananDagadubaChaudhari, (August 2016) the research concluded that Improvements are required in the recruitment sources and selection process such as selecting through interviews and campus interviews to select qualified candidate and also that employment opportunities shall be given to Female Respondents as they are much unaware. It was also found that recruitment process shall be in accordance with the pre-determined objectives of the enterprise such that it may be oblige to objectives of the enterprise. Also the recruitment policy should be fair in selecting the capable candidate. The study conducted by BhukkeSudheshna, (2015) IT Software Industry in India required a scientific analysis in reviewing several systems and sub-systems. The researcher identified that IT Companies

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 are following recruitment and selection practices. The Research also suggested Gamification, Social Networks and Cultural Fit could improve the selection and recruitment process. Hypotheses Testing Chi-Square Test 1. Testing the relationship between Designation and Income H0: There is no significant relationship between Designation and Income of IT Employees. H1: There is a significant relationship between Designation and Income of IT Employees. Table 1 Chi-Square Test Value df Asymp. Sig. (2-sided) Pearson Chi-Square 61.891a 21 .000 Likelihood Ratio 49.672 21 .000 Linear-by-Linear Association 11.972 1 .001 N of Valid Cases 70 Interpretation From the above Table 1, we can confer that the value of Pearson Chi-Square is favourable i.e. 0.000 which is less than 0.050. Hence, Null Hypothesis (H0) is rejected. Thus, we can say that there is a significant relation between Designation and Income of the IT Employees. 2. Testing the relationship between Designation and Qualification H0: There is no significant relationship between Designation and Qualification of IT Employees. H1: There is a significant relationship between Designation and Qualification of IT Employees. Table 2 Chi-Square Test Value df Asymp. Sig. (2-sided) Pearson Chi-Square 13.784a .055 7 Likelihood Ratio 14.788 7 .039 Linear-by-Linear 3.717 1 .054 Association N of Valid Cases 70 Interpretation From the above table 2, there is no significant relationship between the Designation and the Qualification of IT Employees. It is because the result of Pearson Chi-Square test is 0.055 which is more than 0.050 (Favourable). Hence Null Hypothesis (H0) is accepted. Anova Test 3. Testing the difference with respect to Source of Recruitment and Designation H0: There is no significant difference in preference to Source of Recruitment on the basis of Designation of IT Employees. H1: There is significant difference in preference to Source of Recruitment on the basis of Designation of IT Employees. Table 3 Anova Sum of df Mean F Sig. Squares Square Between 19.196 7 2.742 .690 .680 Groups Within 246.247 62 3.972 Groups Total 265.443 69 Interpretation From the above table 3, we can interpret that there is no difference in opinion of the IT Employees in preferring the Sources of Recruitment as the result of the above test is 0.680 which is more than 0.050 (Recommended). Hence Null Hypothesis (H0) is accepted.

4. Testing the difference with respect to Role of Recruiters and Income H0: There is no significant difference with respect to Role of Recruiters on the basis of Income of IT

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Employees. H1: There is significant difference with respect to Role of Recruiters on the basis of Income of IT Employees. Table 4 Anova Sum of Df Mean F Sig. Squares Square Between 1.978 3 .659 2.132 .105 Groups Within 20.416 66 .309 Groups Total 22.394 69 Interpretation From the above table 4, it could be inferred that the result upon the test of Anova is 0.105 which is more than 0.050 (Recommended). Hence there is no difference between the role of recruiters with respect to the income so received by the employees in IT Industry. Hence Null Hypothesis (H0) is accepted. III. FINDINGS  There is a significant relationship between Designation and Income of IT Employees.  There is no significant relationship between Designation and Qualification of IT Employees.  There is no significant difference in preference to Source of Recruitment on the basis of Designation of IT Employees.  There is no significant difference with respect to Role of Recruiters on the basis of Income of IT Employees.  The study found that majority of the employees strongly agreed that Role of Recruiter is very much essential in their organisation and also strongly agreed that Recruiters in their organisation are knowledgeable upon choosing and selecting candidates for different designations.  The Research also proved that employees agreed to the fact that there prevailed different and many rounds of Interview in their organisation.  The research also casted that there existed both Internal and External sources of Recruitment in their Organisation and also majority of the employees strongly agreed that Recruiters in their organisation are helpful to the employees in achieving Organisation’s goals and objectives. IV. SUGGESTIONS  In view of Human Resource Manager or Recruiter, his role is confined only to the process of Recruitment alone in IT Industries, which should not be practised. If so, there could not prevail job satisfaction in IT Industry.  There can also be a place of improvement in terms of Recruitment process for different designations. As the Recruiters are knowledgeable upon the selection of candidates, it is preferable to adopt different rounds and different techniques of selection so as to enable effective and efficient recruitment.  There can also be improvement in terms of catering the needs of the employees by the HR Managers as they are very limitedly catering to the needs of the employees, which is very much required in IT Industries. V. CONCLUSION From the above study, Human Resource is much developed and is essentially improved. The Role of Recruiter has a broader scope in terms of employing personnel in IT Sector. As IT Industries are undergoing automation, the HR plays an important and key role in these organisations by adopting different methods of selection process so that they are able to pick the right person for the suitable designation. Also, HR has been playing a great role in achieving the desired goals and objectives by supplementing the required facts of communication to the employees. Also, recruiters are helpful in helping employees in various aspects and indulged in Promotional activities for the employees. In terms of Recruitment, both Internal as well as External Source are playing a major role in the IT Sector. There is no doubt about the fact that Sources of Recruitment is essential. It may be whichever source, the Organisation should be filled with the right person. Also, it is preferable to have Recruitment through External Source so that there does not contain an employment full of disguise.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 VI. BIBLOGRAPHY 1. http://hrmpractice.com/definition-of-human-resource-management/ 2. http://www.whatishumanresource.com/human-resource-management 3. http://www.businessdictionary.com/definition/recruitment.html 4. https://en.wikipedia.org/wiki/Recruitment 5. http://shodhganga.inflibnet.ac.in/simplesearch?location=%2F&query=hr+recruitment+and+selection+process&rpp=10&sort_by=score&order= desc 6. https://www.scribd.com/?&utm_medium=cpc&utm_source=adwords_brand&utm_campaign=Google_S earch_Alpha_Brand_India&utm_term=scribd&utm_device=c&gclid=CjwKCAiAqt7jBRAcEiwAof2uK yF3BKQ42m4Qz-TLVQEXLgkoxCoDcDP9-tHEeejGdNi6Vguv9KpfWBoCigQQAvD_BwE

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON IMPACT OF MICROFINANCE ON WOMEN EMPOWERMENT WITH SPECIAL REFERENCE TO CHENNAI CITY S. DIWAKAR Final year Department of Accounting & Finance Ramakrishna Mission Vivekananda College, Evening College (Autonomous) Mylapore, Chennai-600004 ABSTRACT Microfinance across the global level has reached to a significant extent and in India microfinance is also spreading very fast across Indian States consequently with remarkable development. The current study examines the impact of Microfinance on women empowerment through Self Help Groups (SHG). Micro finance through Self Help Group is a powerful and suitable way of distributing financial assistance to the people directly for development of the economy. In India, Microfinance scenario is dominated by Self Help Group, Commercial Bank Linkage Programme as a effective mechanism for providing financial services to the “Unreached Poor”. As microfinance provides financial assistance or loans to unemployed or individuals and group of women for their development because empowerment of women is the main aim of microfinance which leads to sustainable development of the nation. As the empowerment of women is one of the main issues in the process of development of countries all over the world because there are various reasons which lead to disempowering of women such as lack of education, lack of employment, lack of basic financial resources etc. Thus micro finance is introduced by the government for the people especially women who belong to the weak social and economic community and who are unable to meet their required financial needs. Hence there is a fact that over a decade, micro financing or micro crediting has been evolved as a lifeline for the women across country. Keywords: Microcredit, Self Help Group, Women Empowerment, Bank Linkage programmer. I. INTRODUCTION Microfinance is a form of financial development that has primarily focused on alleviating poverty through providing financial services to the poor through various forms. Especially for women development microfinance offers various services through the tool called Self Help Group (SHG). In the Self-help group model, a number of individuals, preferably from the same gender come together to resolve various socioeconomic and other issues like education, health, family, livelihood portfolios, collective bargaining power etc. SHG may be a registered or unregistered group of people mostly micro-entrepreneurs having development in their socio economic background, who join hands together to contribute regular savings to a common fund and meet their emergency needs on mutual help basis. The National Bank for Agricultural and Rural Development (NABARD) refinances the banks, which lend to SHG’s. The NABARD introduced a pilot project commonly known as SHG linkage project in 1992.With a small beginning in 1992 as a pilot project, the active participation of Government, Banks, development agencies and NGOs has made the SHG movement as the world’s largest microfinance programme. Globally, microfinance is used by various Governments and development agencies as an instrument for empowering women, so women are specifically targeted as clients of micro finance due to high level of female poverty and disempowerment. Thus Self Help Groups and micro finance are found to be successful in promoting empowerment of women leading to development of economy. II. OBJECTIVES  To assess the role of microfinance towards the women empowerment through self help groups.  To find out the reasons for women joining in self help groups.  To provide suitable suggestions and recommendations to increase women empowerment through SHG’S. Data Collection For the purpose of study both primary and secondary data has been used to analyse the objectives of the study. Primary data has been collected through questionnaire from the members of Self Help Groups and secondary data has been collected form articles, boos, journal reports, and other few websites which are relevant to the study. Sample Structure The sample structure for the study is restricted to 100 women respondents and data has been collected from them through convenient sampling method.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Tools Used for Analysis The primary data collected from the respondents has been analyzed by using SPSS software through various analyses such as Frequency, Mean, Chi-Square, Correlation and Anova. Limitations  The study is limited only to the women in Chennai region.  The study covered only women members of SHGs and does not cover members or clients of MFIs.  Due to time and resource constraints this study was conducted in Chennai region of Tamil Nadu and not able to study the entire Tamil Nadu State or compare with other States in India. Review of Literature Satyasai (2002), in the study titled, “Microfinance for Rural People: An Impact Evaluation”, observed significant improvements in the savings of SHG members. The programmer also improves the borrowing pattern of SHG member households in terms of strengthening credit widening and credit deepening with SHG bank linkage model. Sahu and Tripathy (2005), in the book titled, “Self-Help Groups and Women Empowerment” views that 70 per cent of world’s poor are women. The rural women are the marginalized groups in the society because of socio-economic constraints. They remain backward and lower position of the social hierarchical ladder. The conclusion drawn is that women can lift themselves from the morass of poverty and stagnation through micro finance and with the formation of Self-Help Groups. C.S.Reddy and Sandeep Manak. Self-help groups: A keystone of microfinance in India-women empowerment and social security (2005). The study indicated that the repayment rates were high and that the bank linkage made difference in the lives of the SHG members. The authors conclude that non-financial areas such as social security and gender dynamics are also affected by the SHG movement. Swain and Wallentin (2007), in the study, “Can Microfinance Empower women self-help groups in India”, investigated the status of women with respect to the control of resources, changes in behavior and the decision-making. The study concluded that SHGs, where a majority of groups are linked with the help of NGOs that provide support as financial service and specialized training, have a great ability to make a positive impact on women empowerment and empowerment is to be pursued as a serious objective by SHG programmes in particular and the larger microfinance community in general, greater emphasis needs to be placed on training, education and creating awareness in order to achieve a larger and long lasting empowerment. Data Analysis and Interpretation The primary data collected from the respondents i.e., the women members of Self Help Groups in Chennai is being analysed by using various statistical tools.

Table 1.1 Age

Chart 1.1 Age

Frequency

Percent

AGE Less Than 30

34

34.0

31-40 41-50 51 and Above Total

16 31 19 100

16.0 31.0 19.0 100.0

Interpretation The above table (Table 1.1) displays the age category of the respondents. From this table it can be concluded that the majority women respondents belong to the age category less than 30 followed by age category 41-50, followed by 51 and above and the least respondents belong to 30-40 age category.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

Table 1.2 Background

Chart 1.2 Background

Frequency

Percent

17

17.0

55 28 100

55.0 28.0 100.0

Background Rural Urban Semi-Urban

TOTAL

Interpretation The above table (Table 1.2) shows the background to which the respondents belong. As the research is conducted in metropolitan city the major number of respondents belong to the urban area followed by semiurban area and least belong to the rural area.

Table 1.3

Total Missing Mean

Reson For Joinig Shg is Satisfied 100 0 2.46

Loan Procedure Easy 100 0 2.76

Operational Assistance in Shg 100 0 2.56

Improvement in Skills 100 0 2.39

Interpretation The above table (Table 1.3) shows the mean analysis of various questions asked to the women respondents and their responses are as follows: 1) They agree that their reason for joining SHG had been satisfied. 2) They are neutral towards the easy loan procedure through SHG’S as many of them are yet to avail loans. 3) They agree that they get operational assistance from the SHG’S which is useful for their development. 4) They agree that there is improvement in their skills in various forms after joining SHG’S. H0: The respondents agree that they are not satisfied that microfinance increases savings habit. H1: The respondents are satisfied that microfinance increases savings habit. Table 1.4 Correlation Analysis on Satisfaction on Microfinance and Savings Value Asymp. Approx. Approx. Std. Tb Sig. Errora Pearson's R .378 .108 4.044 .000 Spearman .292 .088 3.018 .003 Correlation Interpretation The above table (Table 1.4) shows the value of correlation and the significance level between two variables. It is clear from the table that the significant value is less than 0.05. Hence null hypothesis is rejected and it is inferred that they are satisfied that microfinance increases savings habit. H0: The respondents are not satisfied that microfinance increases their socio-economic status in the society. H1: The respondents agree that they are satisfied that microfinance increases their socio-economic status in the society. Table 1.5 Correlation of Microfinance and Increase in Socio-Economic Status Value Asymp. Std. Approx. Approx. Errora Tb Sig. Pearson's R .511 .099 5.882 .000 Spearman .488 .090 5.531 .000 Correlation

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation The above table shows (Table 1.5) the value of correlation and the significance level between two variables. It is clear from the table that the significant value is less than 0.05. Hence null hypothesis is rejected and it is inferred that they are satisfied that microfinance increases the socio-economic status of women in the society. Chi-Square Analysis on Background and Below Poverty Line Table 1.6 Table 1.7

Background Rural Urban Semi-Urban Total

Below Poverty Line Yes No 16 1 12 43 7 21 35 65

Value

Total

17 55 28 100

Pearson Chi-Square Likelihood Ratio Linear-by-Linear Association

31.547 32.686 16.409

df 2 2 1

Asymp. Sig. (2-sided) .000 .000 .000

Interpretation The above table (Table 1.6) shows the background of women and whether they live above or below the poverty line. The more number of respondents relied that they do not come under the below poverty line as they have a decent annual income while some respondents agree that they come under the below poverty line as many of them belong to the rural background. The above table (Table 1.7) shows the value of chi-square and its significant level. From the table it is clear that there is significant association between background and poverty line as the significant value is less than 0.05 between the two variables. As explained in the analysis section, correlation analysis states that income and savings are positively correlated which implies that if income increases, the client’s ability for savings also increases. If the savings increase, then there will be a positive impact on financial situation of the family. Henceforth, increase in income as well as savings is mostly associated with the establishment of economic empowerment because income, savings and employment opportunities are interrelated. The linear relationship among these economic components was also found in our study. III. MAIN FINDINGS 1) Microfinance is maximum used by woman’s belonging to urban area in Chennai city. 2) Mostly married and young aged (ageing less than 30 as per study) woman joined SHG’S and undertaken entrepreneurial process. 3) Micro level credit available through various persons and organization but most of the members prefers banking sectors for micro credit facilities. 4) Micro level finance improves rural women’s as entrepreneurs. 5) Majority of the participants of microfinance agree that microfinance improves factors such as income, savings and employment etc. 6) Most of the respondents also agree that they are satisfied with the current services of microfinance and they are also willing to use it for their future needs. IV. SUGGESTION 1) The interest rates should be decreased so as to encourage non-members for joining Self Help Groups. 2) Training to the SHG members should be organised professionally. In this direction, village committees and Panchayats may also be used to educate the rural masses about the microfinance and SHG Schemes. 3) The operational assistance provided through SHG can be improved to provide better results. 4) The banks should provide credit to SHGs adequately and without undue delays. 5) More number of schemes should be provided by the central government towards empowerment of women Other Recommendations 1) Need for woman development in cabinet ministry for women empowerment. 2) Necessary care for rural woman entrepreneur must be provided by state and central government. 3) Need for much more level of subsidy and interest free loan for rural woman entrepreneur. 4) Steps to be taken by government to bring rural people above the poverty line. 5) Conduct more awareness program about entrepreneurship in rural areas 6) Proper training must be given to rural woman in related to entrepreneurship.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

7) The NABARD report on Microfinance is very helpful in extracting data and it would be of much use if the data is available district wise for every state. V. CONCLUSION Microcredit and microfinance have received extensive recognition as a strategy for poverty reduction and for economic empowerment through SHGs in several areas. Accessing small amounts of credit at reasonable interest rates gives poor people an opportunity to set up their own small business. Microfinance services can also contribute to the improvement of resource allocation, promotion of markets, and adoption of better technology. Thus, microfinance helps to promote economic growth and development as it is one of the ways of building the capacities of women and developing them towards self employment. The study concludes that microfinance brought knowledge and social empowerment than economic empowerment. Impact of micro finance is appreciable in bringing confidence, courage, skill development and empowerment. This study may help future researchers to explore the challenges and scope of such interventions in the upliftment of downtrodden women. The assessment reveals that microfinance programmes play a vital role in enhancing women in the society. However the study has revealed that SHG is an important tool which helps the rural women to acquire power for their self supportive life and nation building efforts and based on this we can conclude that women empowerment has achieved a new dimension with the help of microfinance through SHG’S. VI. REFERENCES This study was conducted by referring various articles, books, journals and other websites which has been very helpful in completing the study. They are as follows: 1) Sahu and Tripathy (2005), Self-Help Groups and Women Empowerment, Anmol Publications Pvt. Ltd., New Delhi. 2) Basu, J. (2006), “Microfinance and Women Empowerment and Empirical Study with reference to West Bengal. Available at: http:/www.igidr.ac.in/mone/mfc/10/jyotis%20praksh%20basu_submission-55.pdf 3) Sharma, M. (2007), “Index of Financial Inclusion”, International Council for Research on International Economic Relation Works 2015, Available at: www.icrier.org/pdf/Working_Paper_2015.pdf 4) Swain,B.; and Wallentin,Y.(2007),“Can Microfinance Empower Women? Self-Help Groups in India”, Money with Mission,Vol.1, pp.23-54. 5) Puhazhendi, V.; and Satyasai, K.J.S. (2002),“Micro-finance for Rural People: An Impact Evaluation”, NABARD. 6) NABARD (2002 a). Micro Innovations Department (MCID) Update. NABARD, Mumbai. (http/nabard.org/roles/mcid/introduction.httm) 7) NABARD (2015). Progress of SHG-Bank Linkage Programme. Mumbai: NABARD. 8) NABARD (2017). Progress of SHG-Bank Linkage Programme. Mumbai: NABARD. Other Websites 1) www.nabard.org 2) www.rbi.org.in 3) www.jstor.org.in 4) www.mospi.gov.in 5) www.india.gov.in

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A STUDY ON INVESTORS PERCEPTION IN POST OFFICE SAVINGS SCHEMES C. SHIVARAMAN Final year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College Evening college (AUTONOMOUS), Mylapore, Chennai – 600 004. ABSTRACT ‘Save today for a safe tomorrow’. This statement stands universally applicable, since the future is always uncertain. None can be escaped from the contingencies, which evolved the habit of saving of resources to ensure their availability in future. Thus, the investment, which expects return from these savings are most likely be a part of human life. There are various finance sources and the arenas to potentially use the same, thereby gaining some positive return.This study is essentially focussing on the perception of investors towards post office deposit schemes trying to conclude that there is no influence of Qualification, employment, income and gender etc. on the saving habits, awareness and satisfaction of the investors of Post office deposit schemes. Keywords: Post offices, Investors, Saving habits, Post office deposit schemes. Statement of the Problem In India, the major Government Investment avenue is the Post office deposit schemes. Being the population of India around 1.3billion (appx.), India is one of the highly populated developing country. Being the fast growing economy, the investors are always on the search of Perfect Avenue for multiplying their initial outlay. Now a days, the post office deposit schemes are getting less importance in the portfolio of any rational investor. The reason being that more privatisation of investment options and the sudden emergence of Nidhi companies and private banking sectors. The ease of usage in these technologically equipped avenues acts as a great reason for decline in the investment of Government sectors. I. INTRODUCTION ‘Tiny drops make the mighty ocean’.Thus the post office saving schemes provide a small saving option to every investor with good benefits. The risk here is also very less, being the Government avenue of investment. This study envisages the saving habits and investment behaviour of a common man. The researcher took a sample of around 60 respondents (preferably the Post office investors), in the city of Chennai to make an attempt in exploring their attitude towards Post office deposit schemes. II. OBJECTIVES  To know about the investors’ behaviour towards the Post office Deposit Schemes.  To know the influencing factors like interest rate, safety, easy paper work, risk, returns, age and other criteria.  To analyse the various benefits contributing towards the satisfaction of investors. Research Methodology The study is confined with a small population of 60 respondents to analyse their investment behaviour and perception towards the Post office deposit schemes. Data Source The researcher collected the required data from the eligible respondents directly (Primary data). Around 60 respondents are approached to answer the questionnaire. Statistical methods and techniques: 1. Frequency analysis 2. ANOVA 3. Bar graphs Hypotheses - Null Hypothesis 1. There is no significant difference between the saving habits of the investor on the basis of gender. 2. There is no significant difference in the investor’s satisfaction in Post office deposit schemes on the basis of income. 3. There is no significant difference in the investor’s awareness on the Post office deposit schemes on the basis of employment. 4. There is no significant difference in the reason for investment in post office deposit schemes on the basis of Educational Qualification. Limitations of the study  The study is limited with its scope, the time period of the study being the important constraint.  This research is restricted within the city of Chennai, with a small sample of 50 respondents, and hence the result may vary, when the sample and the research area get widened.  The researcher has given all of the possible efforts to gather out the respondents review, but still there may be hesitation from the side of respondents to reveal out all the answers.

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The sample size being 60 in number, may not be exactly matching with the characteristics of the population.  The study is concentrated only on the Post office investors to enable the research to have apt conclusive evidence. Review of Literature In a study conducted by Anjum Sayyad and Akbar Sayyed,(2015), it is revealed that people prefer post office savings schemes next to the banking schemes. The main reason being that it is a Government department, stays as safe and secure zone, with zero risk. It is suggested that increasing the awareness about the schemes and advertising the benefits are the ways that Government can follow to sustain the growth of investments in the Post Offices. In an empirical study of the attitude of investors in Post Office Deposit Schemes by Dr. K.Senthil Kumar and Dr.DestiKanniah, in the year 2014, we can conclude that people less than the age of 30 are not much aware about the Post Office Deposit Schemes.Literate and married people are highly interested to save for the purpose of children’s education ad future. It concludes in an overall view that investment pattern in post offices has no significant influence by age, education and income. A study of Preferences and level of satisfaction towards post office savings schemes by B.Saranya and G.B.Karthikeyan(2014)reveals out that people prefer to save in post offices for emergency needs and for children’s future. It essentially focussed on analysing the investors behaviour, awareness and level of satisfaction towards the PO Deposit schemes. It found out that the factors of literacy, marriage status, size of household and occupation have significant results over the investors behaviour. It can also be understood that people are interested to continue further in the Post offices after maturity. Hypotheses Testing 1. Ho Null Hypothesis There is no significant difference between the saving habits of the investor on the basis of gender. H1 Alternate hypothesis: There is significant difference between the saving habits of the investor on the basis of gender. Table 1 Saving habits and gender ANOVA SAVING Sum of Mean Df F Sig. HABITS Squares Square Between Groups .020 1 .020 .106 .746 Within Groups 10.976 58 .189 Total 10.996 59 Interpretation From the table 1, it is understood that the significant value is .746. It is much greater than .05.Hence, the null hypothesis is accepted. This reveals that there is no significant difference in the saving habits of investors on the basis of gender. 2. Ho Null Hypothesis: There is no significant difference between the satisfaction of the investor on the basis of income. H1 Alternate hypothesis: There is significant difference between the satisfaction of the investor on the basis of income. Table 2 Satisfaction and Income level SATISFACTION Between Groups

ANOVA Sum of Df Squares 1.826 3

Within Groups

22.037

56

Total

23.863

59

Mean Square .609

F

Sig.

1.547

.212

.394

Interpretation From the table 2, it is evident that the Significant value falls to be .212, which is above 0.05. Hence, the null hypothesis is accepted. Thus, it can be concluded that there is no significant difference in the satisfaction of the investors on the basis of Income level. 3. H0 Null Hypothesis There is no significant difference in the investor’s awareness on the Post office deposit schemes on the basis of employment.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 H1 Alternate Hypothesis: There is significant difference in the investor’s awareness on the Post office deposit schemes on the basis of employment. Table 3 Awareness and employment ANOVA Awareness Sum of Squares Df Mean Square F Sig. Between Groups 5.667 5 1.133 1.318 .270 Within Groups 46.441 54 .860 Total 52.108 59 Interpretation The table 3 shows that the significant value is .270. This is greater than 0.05. Hence, the null hypothesis is accepted, showing that there is no significant difference in the Awareness level of the investor on the basis of employment. 4. H0 Null Hypothesis There is no significant difference in the reason for investment on the basis of Educational Qualification. H1 Alternate Hypothesis There is significant difference in the reason for investment on the basis of Educational Qualification. Table 4 Reason for investment and Educational qualification ANOVA Reason for investment Sum of Squares df Mean Square F Sig. Between Groups 1.086 5 .217 .658 .657 Within Groups 17.831 54 .330 Total 18.917 59 Interpretation The table 4 shows that the significant value is .657. This significant value is more than 0.05. Thus, the null hypothesis is accepted. Hence, it can be concluded that there is no significant difference in the reason for investment based on the educational qualification. III. FINDINGS  There is no significant difference between the saving habits of the investor on the basis of gender.  There is no significant difference between the satisfaction of the investor on the basis of income.  There is no significant difference in the investor’s awareness on the Post office deposit schemes on the basis of employment.  There is no significant difference in the reason for investment on the basis of Educational Qualification. IV. SUGGESTIONS  More advertisements and awareness programme can be conducted in public places, backward areas, institutions etc. to educate the schemes to the public.  The small savings agents are playing the role in canvasing the post office deposit schemes and also serving the customers at their doorstep. This service must be further promoted and continued.  Any common investor would expect a proper attention and service in the investment bodies. The Customer relationship management must be further developed and improved in the post offices, so as to retain the existing investors and to attract new customers. V. CONCLUSION This study conducted on the subject investors’ perception made a good attempt at least in framing a sketch on the behaviour of the investors towards the post office deposit schemes. The investors are the high lenders and the high seekers. The post offices being the backbone of the Indian economy is doing an exhaustive job of encouraging the saving habits of the citizens and gathering out the funds. As studied above, this proves to be safe and secure avenue for investment but the popularity of the same gets significantly reduced in the recent years. To revive, the Government has to inculcate the need of investment and saving habits on the public through various campaigns. Though there are various investment arenas with high returns, the Government avenues are still preferred for the safety and security of the funds and the assured return. Thus, it is the high privilege and responsibility of the Department of Post to regulate the small savings economy, since they have a country wide reach on the citizens.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 VI. REFERENCES 1. Anjum Sayyad and Akbar Sayyed, 2015 Zenith International Journal of Business Economics & Management Research ISSN 2249- 8826 ZIJBEMR, vol.5 (6), june (2015), pp. 323-329 2. Dr. K.Senthil Kumar and Dr.DestiKanniah - Investors’ Attitude towards Savings in Post Office (2014) -Research Journal of Finance and Accounting www.iiste.org ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol.5, No.15, 2014 3. B.Saranya and G.B.Karthikeyan (2014) - http://hdl.handle.net/10603/37154 4. www.Indiapost.gov.in/Financial/pages/content/poss.aspx 5. https://www.worldwidejournals.com/indian-journal-of-applied-research(IJAR)/articles.php?val=MTAwOTQ=&b1=45&k=12 6. http://shodhganga.inflibnet.ac.in/handle/10603/37154 7. https://www.investopedia.com/terms/i/investment.asp 8. https://en.wikipedia.org/wiki/Hypothesis 9. https://www.merriam-webster.com/dictionary/investment

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON JOB SATISFACTION IN RESERVE BANK OF INDIA WITH SPECIAL REFERENCE TO CHENNAI REIGION R. RAHUL Final year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai- 600 004 ABSTRACT The present study is an earnest attempt to determine job satisfaction in Reserve Bank of India (Chennai Region). Findings and suggestions are based on survey and these points are to be looked into and steps are to be taken in this regard for higher growth. Various statistical tools have been used on data to find out the level of job satisfaction. Keywords: Job satisfaction, Employee satisfaction, Morale, Motivation, Work pressure. I. INTRODUCTION Human Resource refer to the people or personnel or workforce within an organization responsible for doing the chores given to them for the purpose of fulfillment of goals and objectives of the organization which is possible only via proper recruitment and selection, providing correct orientation and induction, training, skill developments, perfect assessment of the employees (performance appraisal), providing sufficient and appropriate compensation and benefits, maintaining correct labor relations and ultimately maintaining safety, welfare and health concern of employees. Human Resource Management is considered to be the most valuable asset in all organizations. It is the aggregate sum of inherent abilities, acquired knowledge and skills represented by the talents and aptitudes of the employed persons who comprise of executives, supervisors, and the rank and file employees. It may be noted here that human resources should be utilized to the maximum possible extent, in order to achieve individual and organizational goals. It is thus the employee’s performance which in the end decides and helps in attainment of organizational goals. However, the employee performance is to a large extent, affected by factors such as motivation and job satisfaction. Human resource management is a specialized functional aspect of business that attempts to develop programmers, policies, and activities to promote the employee job satisfaction of both individual and the organizational needs and objectives. Job satisfaction or employee satisfaction is a measure of workers' contentedness with their current job, whether or not they like the job or individual aspects or facets of jobs, such as nature of work or supervision. Job satisfaction can be measured in cognitive (evaluative), affective (or emotional), and behavioral components. One of the most widely used definitions in organizational research is that of Locke (1976), who defines job satisfaction as "a pleasurable or positive emotional state resulting from the appraisal of one's job or job experiences", Others have defined it as simply how content an individual is with his or her job; whether he or she likes the job or not. In an organization, satisfaction of workers means a work force is motivated and committed to high level quality performance. There are various components which are considered to be vital to employee’s satisfaction. Their compensation, promotion, benefits, supervisors, co-works, work condition, communication, safety, productivity and the work itself. Each of these factors branches into an individual’s satisfaction indifferently. One might think pay is considered to be the most important in employee satisfaction, although this has not been found to be true. Employees are more concerned with working in an environment they can enjoy. The employee’s attitude towards the job and organization as well become positive when they realize that their job facilitates them in achieving their needs and values. In short, it represents the difference between employee’s expectations and experience he/she derives from the job. II. OBJECTIVES 1. To measure the employee job satisfaction level in the organisation (Reserve Bank of India, Chennai region). 2. To study employee opinion about the organisation. 3. To identify employee’s attitude towards work. 4. To give suggestions related to the aspect of job satisfaction.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Review of Literature Hrihe Hassan (2010)infers that the job provides the opportunity to the employees to exercise his/her skills at work place. Most of the employees accepted that at times there is a considerable flexibility in cocoordinating with work and that they are satisfied with the existing inter personal communication. In KMF Ltd, they follow the systematic planning and review process to evaluate the performance of employee. From the analysis it was also observed that was there is a scope for the improvement of working conditions in KMF Ltd. Salary package should be increased so that it can be in par with market rate. The researcher concludes that the employees of KMF Ltd Hassan, are satisfied with their work and organization. G. Pavani (2014)objective of the study is to measure the level of employee satisfaction towards their jobs. To study the various factors determining job satisfaction of the employee. The other objectives of study were to find the impact of job satisfaction on the overall growth of employees as well as the organization and to make necessary recommendation for increasing the satisfaction levels of employee, if any. The findings were that the employees are neither satisfied nor dissatisfied with the way company policies put into practices with a weighted average of 0.27. Majority of employees are satisfied with the organisation on the whole. Data Collection  Only primary data is being used for the purpose of this research, the Primary data was collected from the respondents by administering a structured questionnaire.  SAMPLE SIZE- Out of the whole strength, the sample taken against workers (50 respondents)  SAMPLE METHOD- The research was made by the survey in accordance to the convenience of the employees. Analysis And Interpretation Of Data Hypothesis 1 Correlation Analysis Correlation between the job being satisfactory and the salary being satisfactory: H0 = There is no significant relation between the job being satisfactory and the salary being satisfactory H1= There is significant relation between the job being satisfactory and the salary being satisfactory Table No. 1 Correlations The Job Is Satisfactory

The Salary Paid Is Satisfactory

1

.374**

Pearson Correlation

The Job Is Satisfactory

Sig. (2-tailed)

.007

N The Salary Paid Is Satisfactory

Pearson Correlation

50

50

.374**

1

Sig. (2-tailed)

.007

N

50

50

**. Correlation is significant at the 0.01 level (2-tailed). Interpretation The above Table No.1 shows that the significance of correlation is .007. Since, .007<0.05there is observed to be a significant correlation. So H0 is rejected, H1 is accepted. Hence, there is a significant correlation between the job being satisfactory and the salary being satisfactory. Hypothesis 2 Anova Analysis Age and Work Pressure Dependent variable: Age Independent variable: There is no work pressure H0= There is no significant difference in the work pressure felt by different age groups H1=There is significant difference in the work pressure felt by different age groups Table No. 2 ANOVA AGE Sum of Squares df Mean Square Between Groups

4.209

4

1.052

Within Groups

15.791

45

.351

80

F

Sig.

2.999 .028

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 ANOVA AGE Sum of Squares df Mean Square Between Groups

4.209

4

1.052

Within Groups

15.791

45

.351

Total

20.000

49

F

Sig.

2.999 .028

Interpretation The above Table No.2 shows value of F and its significant level. It is clear from the table that the significant level is .028, which is less than 0.05. The significant level is .028 and .028<0.05. Hence, it is inferred that there is a difference between 2 variables, the job being satisfactory and the execution of company policies being satisfactory. This means that the amount of work pressure felt, changes with the different age groups the respondents belong to. So H0 is rejected, H1 is accepted. III. FINDINGS The following were observed during the study:  More than 70% of respondents are extremely satisfied/satisfied with their job at Reserve Bank of India (Chennai region)  Most motivating factor for people working in RBI is ‘Recognition’  Majority of the respondents were of the age between 41 and 50  Most of the respondents of the study were post graduates  The respondents comprised of 43 males and 7 females  More than 60% of the respondents had monthly income above ₹50,000  Majority of respondents strongly agree/agree that the working time is convenient  There are good employee development programmes in Reserve Bank of India (Chennai region)  There is a good opportunity for learning in Reserve Bank of India (Chennai region)  Excellent incentives are provided for good performance by the employees  There is excellent relationship between superior and subordinate  There is utmost satisfaction for employees in the execution of company policies  74% of the respondents strongly agree/agree that there is no work pressure felt  Huge majority of the respondents feel that their working space is comfortable  82% of the respondents strongly agree/agree that their performance is appraised correctly  Majority of the respondents feel that the employee training is good  72% of the respondents strongly agree/agree that the salary paid by Reserve Bank of India (Chennai region) is satisfactory  Almost 80% of the respondents strongly agree/agree that there is scope for extra-curricular activities in Reserve Bank of India (Chennai region)  Respondents are satisfied with the regularity and speed of technology upgradation in Reserve Bank of India  82% of the respondents feel that their superiors help in improving their performance IV. SUGGESTION The following are the suggestions regarding improving the job satisfaction in Reserve Bank of India (Chennai region) that can be said about the results obtained from analysing the data procured from the questionnaire:  There should be more openings for undergraduates as only 12% of the respondents constitute for undergraduates  More focus should be given to recognition of employee’s achievements and they should be awarded, as the most motivating factor for employees is found to be recognition from the organisation  Employee development programmes should be conducted more often as it has scored the least positive response among all the aspects discussed in the questionnaire.  The work space should be made more comfortable to employees and work pressure can be slightly reduced, this was the second and third least positive responses among all the aspects discussed in the questionnaire. V. CONCLUSION From the analysis, it can be concluded that the employees hold the organisation in very high regard as the results of the survey were overwhelmingly positive. The employees are sufficiently motivated and boast high morale. The employees have good attitude towards the organisation. Finally, it can be concluded that employees of Reserve Bank of India (Chennai Region) are thoroughly satisfied with their job.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 VI. REFERENCES Websites 1. http://www.whatishumanresource.com/ 2. https://en.wikipedia.org/w/index.php?title=Job_satisfaction&action=edit 3. https://businessjargons.com/job-satisfaction.html 4. https://www.rbi.org.in/Scripts/AboutusDisplay.aspx 5. https://cleartax.in/s/rbi-reserve-bank-of-india#establishment 6. http://shodhganga.inflibnet.ac.in/bitstream/10603/23201/8/08_chapter%203.pdf 7. https://www.researchoptimus.com/article/frequency-analysis.php Articles 1. Hrihe Hassan (2010) A study on employee job satisfaction in KMF ltd. 2. G.Pavani (2014) A study on job satisfaction with special reference to RTPP.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON SERVICES MARKETING WITH SPECIAL REFERENCE TO TOURISM IN CHENNAI M. VINABAV KUMAR Final year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai-600004. ABSTRACT Tourism is travelling for leisure or recreational purposes. Tourism sector has become a major contributor for the GDP of many developed and developing countries. In this study we are going to see about how marketing brings a growth in revenue of tourism sector. Since there is a development in infrastructure of the city which is mainly done to attract tourist and many cultural events are organized by the government, the marketing for these is important in order to have a global reach even though Chennai is a city of rich tradition, varied heritage, modern amenities and technology. Based on this it has become a vibrant place in the vicinity of nature. Chennai not only encourages tourism for leisure and recreational activities but also for medical and health-care purpose. This is known as Medical Tourism. Thus this research is based on how tourists across the globe are attracted through services marketing which gives a rise in revenue and growth for tourism in Chennai. I. INTRODUCTION Marketing alludes to the activities of an organization related with purchasing and moving an item or service. It incorporates advertising, offering and conveying items to individuals. Services Marketing stands for the marketing of services as against substantial products. Services are genetically, are absorbed simultaneously at the time of their production, cannot be stored, saved or resold once they have been used and service offerings are unique and cannot be exactly repeated even by the same service provider. Tourism marketing is a type of services marketing. In its broadest sense, the tourism marketing is the business control of drawing in guests to a particular area. Lodgings, urban communities, states, customer attractions, conference halls and different locales and areas related with purchaser and business travel all apply essential showcasing systems to explicit strategies intended to build visits. II. OBJECTIVES 1. To study the need of marketing for developing tourism. 2. To study the role of tourism in the city of Chennai. 3. To study the need of tourism in Chennai for generating revenue through effective marketing. 4. To study the need of tourism and how it creates new employment avenues. 5. To study the development Chennai’s infrastructure and other facilities with respect to tourism and marketing 6. Understand the definition and concepts of marketing in relation to tourism, have an idea about the relevance of marketing in tourism. Need for the Study The need for this study is to know how effective marketing in tourism industry would give a rise in Gross Domestic Product. The study is to evaluate how tourism marketing gives a shift in the position of market potential for tourism in Chennai city. The potentiality of Chennai tourism spots depends on the better path to be rooted to attract more visitors to Chennai through effective marketing. Limitations of the Study  Huge funding is required for implementing the marketing strategy over a widearea.  Development of infrastructure is tough as scope for expansion is limited in the city of Chennai due to increased population.  There will be a budget issue since Chennai is a metropolitan city and its in developing stage and concentrating on tourism and its marketing would result in no development since they have to start from scratches.  Organizing tourist events would result in a massive spending by the government and public may oppose to such spending by the government. Review Of Literature 1. Strategic marketing techniques in international Tourism By Socrates Papadopoulos (1987) The author analyses the use of econometrics in the improvement of worldwide travel industry showcasing procedures. Specifically it looks at how observational outcomes can be identified with a market decision lattice in distinguishing the most alluring nations for apportioning advertising assets and

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 constrained limited time reserves. 2. Strategy Development And Implementation Of tourism Marketing Plans By Socrates I. Papadopoulos (1989) The author explains the basic tenacity of this article is that it observes many of the elementary perceptions, contexts and processes that can be applied by many national traveller groups and private tourist initiatives for its preparation, performing and supervisory of marketing tactics and schemes of tourism for both short and long-term purposes. 3.Marketing of tourism: A paradigm shift toward sustainability byte Jamrozy (2007) The author examines a move in the travel industry advertising worldview far from financial benefit needs toward supportability. The maintainability approach receives an all-encompassing, incorporated perspective of showcasing, thinking about social value, ecological security, and monetary reasonableness. 4.Azores Tourism: A Development And Marketing Strategyby Vitor Fraga (2016) The author examines the recently set up strategical and advertising the travel industry program for the Azores and how this is being used to advance the travel industry enhancement in the area. 5.Marketing of Tourism Services/Experiences By Author Hongfei Bao (2018) The author examines the key components of advertising of the travel industry administrations and encounters by taking the viewpoint of another travel industry business person. This part was based on writing survey of showcasing of the travel industry administrations at business level. A reasonable methodology has been received and executed in outlining the factors of advertising mix. The Tourism Marketing Plan Each advertising exertion should start with an arrangement, and the travel industry showcasing is the same. The advertising plan is your guide and subtleties the attractions in your general vicinity. It drives you to set a financial plan on your special spending. Toward the finish of every travel industry season, you can utilize your showcasing plan to set objectives and make changes for one year fromnow. Characteristics of Services Marketing Intangibility: Most services can't be experienced or expended until the buy is made. Clients can undoubtedly finish up feeling like they need to settle on a buying choice without satisfactory data. Inseparability: To keep utilizing the car relationship, autos are created at one area, sold at another, and utilized at one more area. services are interesting in light of the fact that they are normally given and expended in the meantime in a similar area . Perishability: Services, then again, are regularly transitory, implying that unused limit can't be put away for sometime later or deal. For instance, an eatery may be full one night and half void the following. Variability: Nonetheless, the nature of a service can fluctuate by numerous variables, including who gives it, where it is given, when it is given, and how it is given. Research Methodology This research is ultimately based on primary data. It is based on tourist perception.100 responses will be collected from tourists arriving from various cities, states and countries. The collected data then will be uploaded on SPSS 16 where various tests will done on the data collected from the touristsnamely:  ANOVA  Chi-Square  Correlation.  Mean and Frequency Analysis Analysis and Interpretation Frequency Analysis Table-1Showing the Frequency Distribution of different types of marketing strategies used to attract tourists in Chennai Table-1

Interpretation From the above Table-1 we find that advertisements attract 50% of tourists followed by Offers given by tourist agencies as a package at 24%,next is organizing events at 16% and at last is receiving complementary

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 tickets at 10%. Anova Analysis Table-2 Showing the relationship between current marketing and different types of marketing strategies Table-2

Interpretation From the above Table-2 we can say that there is a relationship between these variables as the significant value is more than 0.05. Therefore, alternate hypothesis is rejected. Chi-Square Analysis Table-3Showing relationship the between age and different modes of transportation to be used by tourists in Chennai Table-3

Interpretation From the above Table 3 we can say that there is significant association between these two variables as the significant value is less than 0.05.Hence alternate hypothesis is accepted. Correlation Analysis Table-4 Showing the relationship between "Current marketing for tourism in Chennai is sufficient" and "Tourism will be playing major role for Chennai's growth in future"? Table-4

Interpretation From the Table 4 we can say that these two variables are correlated as the value is less than 0.05. III. FINDINGS  70% of tourists depend on Travelling Applications and Websites for their tour to Chennai.  55% of tourists prefer their family for a tour to Chennai, on the other side 42% prefer friends and only 3% prefer to travel alone for their tour to Chennai.  82% of tourists accept that increase in marketing activities will be resulting a growth for tourism in Chennai.  66% of tourists accepts that tourism will be playing major role for Chennai's growth in future.  30% of tourists prefer to use a combination transportation modes,25% rely on Rental cars,18% on Public transport,19% on Taxis and only 6% & 2% on Auto-Rickshaw and Motorcycles respectively.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3



35% of tourists prefer to stay at Economic Hotels for their tour to Chennai. Followed by 15% prefer to stay at Service Apartments or Resorts, next will be First Class Hotels at 11%,then the remaining are Lodges at 9%,Luxury Hotels at 8% and Guest Houses at7%.  63% of tourists agree that Chennai has a global recognition fortourism.  28% of tourists say that marketing activities must be increased in order to improve tourism in Chennai, followed by improvements in infrastructure at 21%, Maintenance of tourists spots 17%,improvements in sanitation 14%,increase in tourists spots 12% and at last will increase in public events at 8%. IV. SUGGESTIONS  Avenues for Business tourism must be improved but creating more employment opportunities and business must have a wider scope for improvement in Chennai.  Government must start new initiatives in order to attract tourists to depend on Government Campaigns  There must be study on tourism for upcoming generations to have a wider knowledge about tourism in Chennai and its booming period in the future. V. CONCLUSION Thus from the above findings and suggestions we can say that marketing plays a key role in tourism and tourism plays a major in Chennai and in its future by generating revenues, creating new employment avenues, helpful in developing the city of Chennai on its infrastructure, sanitation, safety and quality.Students and youngsters should have a proper knowledge about tourism as there will be a bright future for them in industry for their career.Marketing strategies should be updated in order to attract tourists on a regular basis and its useful for the long run. This will be a prolonging circle as more you market tourism ,more will be the return to the city. So we conclude that Chennai’s tourism depend on how they market or advertise it and by doing that Chennai will have a better future in tourism and in its development. VI. REFERENCES 1. Services marketing: Concepts. Strategies& Cases by K.Douglas Hoffman and John E.G. Bateson 2. "Azores tourism: a development and marketing strategy", Worldwide Hospitality and Tourism Themes, Vol. 8 Issue: 6, pp.705-710, 3. Hongfei Bao , (2018),Marketing of Tourism Services/Experiences, in MariosSotiriadis (ed.) The Emerald Handbook of Entrepreneurship in Tourism, Travel and Hospitality, pp.261 - 275 4. Ute Jamrozy, (2007) "Marketing of tourism: a paradigm shift toward sustainability", International Journal of Culture, Tourism and Hospitality Research, Vol. 1 Issue: 2, pp.117-130, 5. Socrates I. Papadopoulos, (1989) "Strategy Development and Implementation of Tourism Marketing Plans: Part 2", European Journal of Marketing, Vol. 23 Issue: 3, pp.37-47, 6. STRATEGIC MARKETING TECHNIQUES IN INTERNATIONAL TOURISM , International Marketing Review, Vol. 4 Issue: 2, pp.71-84, Other References 1. https://www.marketingdonut.co.uk/market-research/questionnaires-surveys-and-focusgroups/top-20-questions-that-research-could-help-you-answer 2. https://opentextbc.ca/introtourism/chapter/chapter-1-history-and-overview/

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON TAX PLANNING MEASURES ADOPTED BY SALARIED ASSESSEES IN CHENNAI B. KUMARAN Final Year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous) Mylapore, Chennai – 600004 ABSTRACT India is a developing country, majority of the salaried class individuals in the country belong to the middle-income class. Thus, tax planning plays a vital role in the life of such individuals. Proper planning of tax is not only beneficial for the assessees but also for the government. It ensures that the assessees have properly complied with the provisions of the income tax act. Adequate knowledge on the provisions of the act and various tax planning techniques would be useful to reduce the tax liability to the lowest level possible. Hence, tax planning requires gathering of latest information about the changes in the tax laws. This project helps to identify the various tax planning measures adopted by the salaried assessees and their awareness towards the various rules and provisions of the income tax act, 1961. Questionnaire was distributed to both government and private employees. The sample size for this study is 50. Analysis of data has been done using statistical tools like correlation analysis, chi-square analysis, Likert scale analysis, percentage analysis and diagrammatic representation. The SPSS software was used for data analysis. The analysis was done based on the information provided by the respondents. The study identified that the Deduction u/s 80C was the most claimed deduction among the salaried assessees for the previous year 2017-18. The study also identified that the assessees are mostly aware of the provident fund provisions u/s 10(11). The study found that most of the assessees use the help of tax consultants for tax planning and filing of income tax return. Keywords : Assessee, Tax planning, Salary, Income, Deduction, Exemption, Return, Filing I. INTRODUCTION The main motive of tax law is to earn maximum income for the government which is ultimately used to provide facilities to the general public. But, payment of taxes decreases the disposable income of the individuals and inflicts a burden on them. Tax is a payment made by the tax payer without any consideration whatsoever, therefore, every taxpayer will be looking to minimize the tax liability. The use of tax planning measures has become an integral process for every tax payer. Those who make proper use of the tax planning techniques will be able to reduce their tax liability to the lowest level and will be able to have a better financial condition. Tax planning is legal and within the framework of law which must be properly utilized by every tax payer. II. OBJECTIVES OF THE STUDY  To identify the various tax planning measures adopted by individuals with salary as their only source of income.  To understand the awareness of the salaried individuals towards the various rules and provisions of the income tax act.  To identify whether the individuals are filing the income tax return by their own or through a professional.  To offer suggestions for creating better awareness of income tax rules and proper tax planning to salaried assessees. Need For the Study Tax planning is an important financial activity that needs to be taken care of. Many salaried individuals are ignorant of tax planning due to personal and other reasons. This study attempts to identify the level of awareness among salaried persons in tax planning and filing of income tax returns. The assessees may need personalized tax saving schemes based on their financial condition. There is no one universal tax saving scheme that can be used by all assessees. So, the assessees need to be properly aware of the different schemes that are available to them. These kinds of tax saving schemes gives benefit not only for the assessees but also will help the government and economy. The study will help to identify the various tax planning measures adopted by salaried persons and the use of tax professionals by the salaried persons for tax planning and return filing. The findings of the study will be useful for the salaried individuals, employers, income tax department and the government. Review of Literature Amrizah and Nero (2005)have examined the level of tax awareness and tax liability of the salaried assessees. The study found that the salaried assessees were having average level of awareness on computation of gross total income, permissible deductions, allowable rebates and tax reliefs. Geetha (2014)has examined the tax planning techniques used by the salaried assessees. The study identified that salaried assessees were highly aware of provident fund, insurance, professional tax and housing loan but they were extremely unaware on notified bonds, marginal relief, capital gain, mutual funds and deduction for disabled persons. The study found that salaried assessees claimed deductions for bank deposits,

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 higher education loan, contributions to provident fund and higher education loan. The study analyzed that the government employees in the middle income category and the high income category claimed the maximum amount of deduction under section 80C. The study found that tax planning was not done throughout the year by the salaried assessees. Vasanthi (2015)has examined income tax planning and investment plans of salaried individuals. The study found that employees have invested a portion of their income to various non-government securities with high yield rather than investments with tax advantages. The study recommended that the government organizations must take adequate measures to increase awareness on tax savings schemes among salaried individuals. Sanjeeb Kumar Dey and Kamal Kumar Varma (2016)have examined the awareness on tax saving plans and tax planning of individual tax payers in cities of Bhubaneswar and Cuttack. The study found that most of the tax payers have very less information and awareness about tax saving schemes. Therefore, gender and educational qualification substantially varied with income tax planning techniques used by the individual tax payers. The study recommended that the Government shall use social media applications like ‘What Sapp’, ‘Twitter’ and ‘Facebook’ for increasing the awareness of various tax saving techniques among the individuals Data Analysis and Interpretation 1. Likert scale analysis of awareness of deductions under the head income from salaries TABLE 1 Deductions 5 4 3 2 1 Total Mean Rank Score Entertainment allowance 11*5 = 11*4 = 14*3 = 6*2 = 8*1 161 3.22 6 u/s 16(ii) 55 44 42 12 =8 Professional tax u/s 16(iii) 19*5 = 17*4 = 7*3 = 2*2 = 5*1 193 3.86 5 95 68 21 4 =5 Gratuity u/s 10(10) 20*5 = 14*4 = 11*3 = 3*2 = 2*1 197 3.94 2 100 56 33 6 =2 Pension u/s 10(10A) 18*5 = 18*4 = 8*3 = 4*2 = 2*1 196 3.92 3 90 72 24 8 =2 Retrenchment 10*5 = 8*4 = 15*3 = 8*2 = 8*1 151 3.02 8 compensation u/s 10(10B) 50 32 45 16 =8 Provident fund u/s 10(11) 23*5 = 14*4 = 7*3 = 4*2 = 2*1 202 4.04 1 115 56 21 8 =2 Super annuation fund u/s 11*5 = 12*4 = 11*3 = 7*2 = 9*1 159 3.18 7 10(13) 55 48 33 14 =9 House rent allowance u/s 5*2 = 10(13A) 20*5 = 15*4 = 7*3 = 10 3*1 194 3.88 4 100 60 21 =3 Interpretation It can be seen from the above table that, respondents are more aware of the Provident fund deduction u/s 10(11) of the Income Tax Act, 1961. Gratuity u/s 10(10) is the next deduction which is popular among the respondents . The lack of awareness is seen in the deduction of Retrenchment compensation u/s 10(10B) and Superannuation fund u/s 10(13) 2. Correlation analysis between Awareness of ITR forms among respondents and their opinion on complexity in filing of income tax returns A = Awareness of ITR forms used B = Opinion on complexity in filing of returns Table 2 Correlation A

B

A 1

Pearson Correlation Sig. (2-tailed) N Pearson Correlation Sig. (2-tailed) N

50 -.350* .013 50

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B -.350* .013 50 1 50

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation The correlation test was applied to find whether there is any significant relationship between awareness of ITR forms used and respondents’ opinion on complexity in filing of returns. The result shows that there is a significant negative relationship between awareness of ITR forms used and opinion of respondents towards complexity in filing of income tax returns. r = -.350 , p = .013 This negative correlation indicates that there is an indirect relationship between the two variables. That is, when variable ‘A’ increases variable ‘B’ decreases and vice versa. In other words when the respondents get more knowledge about the ITR forms used, they feel that the Complexity in filing of income tax is less. 3. Chi square analysis between number of years of income tax payment and filing of returnA = Number of years of income tax payment B = Method of return filing Table 3 A * B Crosstabulation Count B Total By With the With the help other yourself help of a tax of consultant friends/family

A

Tota l

Less than 5 years 5-10 years 10-15 years more than 15 years

6

3

7

8

24

2 2 4

3 3 8

2 0 2

0 0 0

7 5 14

14

17

11

8

50

Chi-Square Tests Value Df

Asymp. Sig. (2-sided) .038 .008 .008

Pearson Chi-Square 17.804a 9 Likelihood Ratio 22.419 9 Linear-by-Linear 7.038 1 Association N of Valid Cases 50 a. 13 cells (81.3%) have expected count less than 5. The minimum expected count is .80. Interpretation From the above table it can be seen that there is a significant relationship between number of years of income tax payment and how the respondents file their income tax return. Actual p = .038 which is lesser than the assumed value of 0.05 significance. III. FINDINGS  70% of the respondents are male.  44% of the respondents are below 30 years of age  Most of the respondents (42%) are in the income group of less than Rs.5,00,000.  36% of the respondents file their income tax return with the help of a tax consultant.  Section 80C is the most used deduction with 29.2% of the respondents claiming it during the previous year 2017-18.  By applying the Likert scale analysis it is found that Majority of the respondents are aware of the provisions relating to Provident fund u/s 10(11), closely followed by Gratuity u/s 10(10) and Pension u/s 10(10A).  Using Likert scale analysis it was also found that most of the respondents feel that the awareness of tax provisions are very less among salaried individuals and fees charged by tax consultants are high. Agreement relating to income tax rates, complexity and filing of return were not unanimous.  The correlation test was applied to find whether there is any significant relationship between awareness of ITR forms used and respondents’ opinion on complexity in filing of returns. The result shows that there is a significant negative relationship between awareness of ITR forms used and opinion of respondents towards complexity in filing of income tax returns.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 

The correlation test was also applied to find whether there is any significant relationship between awareness of Chapter VI A (Section 80) deductions and respondents’ opinion on low awareness of income tax rules among salaried assessees. The result shows that there is negative and an insignificant relationship between awareness of ITR forms used and opinion of respondents towards complexity in filing of income tax returns.  The Chi square test was applied to find out the relationship between number of years of income tax payment and how the respondents file their income tax return. The results showed that there is a significant relationship between the two variables.  The Chi square test was also applied to find out the relationship between how the respondents file their tax return and their opinion of fees charged by tax consultants. The results showed that there is no significant relationship between the two variables. IV. SUGGESTIONS The following suggestions have been made to make tax planning effectively in the years to come.  The study identified that the tax payers are having less awareness on the provisions of the Income Tax Act relating to deductions and exemptions under the head salary. So, income tax department and tax consultants should create awareness on the aforesaid provisions of the Income Tax Act.  The provisions of the act and rules for filing of income tax returns should be advertised through popular media from the commencement of financial year. In the current system, the income tax department is advertising the last date for the filing of tax returns at the end of the assessment year only.  The world has become digitalized, almost every person is using a smart phone. Thus, the Income Tax Department could develop an official mobile application for filing of income tax return. It can also be used for publicizing the latest amendments in the income tax act and various exemptions and deductions available under Income Tax Act.  The study found that the most of the salaried individuals use the help of a consultant to file their returns. The income tax department can provide assistance to the tax payers by setting up official tax consulting agencies which charge nominal fee for the assistance provided.  The Government should increase the ceiling limit for deduction u/s 80C from Rs.1,50,000 to Rs.2,50,000. Most of the salaried assessees claim this deduction, so, it will be helpful to lower the tax liability of the assessees in the middle income group.  To simplify the tax provisions, flat rate income tax system should be introduced by eliminating all the deductions and exemptions. Under this system, tax can be levied, based on the different classes of income. V. CONCLUSION Tax Planning is not very complex and might be done with a certain level of awareness and effort. As such, tax planning measures adopted by salaried assessees are not adequate. It requires considerable improvement. Therefore it is the responsibility of the specialists in this subject to improve the awareness about tax planning among the salaried assessees. This particular study is a modest attempt taken towards fulfillment of this objective. With proper tax planning, both the tax payers and the Government will be benefited. VI. REFERENCES 1. Amrizah K. and Nero M. (2005). Tax literacy and Tax awareness of Salaried Individuals in Sabah and Sarawak, National Accounting Research Journal Vol. 5 No. 1/2005: 71-89. 2. Geetha C.A. (2014) Study on awareness level of salaried class on tax laws and tax planning measures Volume III Issue I January 2016 Bharata Mata Journal of Multidisciplinary Studies. 3. Sanjeeb Kumar Dey and Kamal Kumar Varma (2015). Awareness and Practices of Tax Planning by Salaried Employees: A Case Study of Lecturers in Odisha. Journal of commerce and Management Thought (Paper) ISSN : 0975-623X.(Online) ISSN : 0976-478XYear : 2016, Volume : 7, Issue : 4. 4. Vasanthi R. (2015) A Study on Tax Planning Pattern of Salaried Assessee Research Journal of Finance and Accounting www.iiste.org ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol.6, No.1, 2015. 5. T.N Manoharan (2017) Student’s Handbook on Taxation 13 th edition (2017) Publisher : Snow white publications Pvt. Ltd 6. T.N Manoharan (2017) Student’s Handbook on Taxation 13th edition (2017) Publisher : Snow white publications Pvt. Ltd . 7. Jassprit Singh Johar Income tax law 2nd Edition (2019) Publisher : Bharat Law House Pvt. Ltd

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON THE IMPACT OF MACROECONOMIC VARIABLES ON THE INDIAN STOCK MARKET WITH SPECIAL REFERENCE TO NATIONAL STOCK EXCHANGE - NIFTY 50 G. CHANDRAMOULI Final Year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College (Evening) (Autonomous), Mylapore, Chennai – 600004 ABSTRACT In India, the stock exchange market has shown sizeable growth across the different sectors of the economy over the past decade. The study took into picture the important macroeconomic variables and enquired whether they affect the returns of the stock market. The study used NSE’s flagship Nifty 50 index as an indicator of the Indian stock market and the chosen macroeconomic variables were Money Supply, Exchange Rate, CPI, IIP, Gold Price and Call Money Rate. The research utilised monthly data of all the variables over a period of 5 years (Jan 2014 - Dec 2018) and applied correlation and regression tools using SPSS to examine the nature and extent of relationship between them. The evidences suggested that all the variables had a significant impact on the index. Moreover, money supply and IIP had indicated a positive relationship while exchange rate, CPI, gold price and call money rate reported a negative impact on the Nifty index. Keywords: nifty 50, national stock exchange, stock market, macroeconomic variables I. INTRODUCTION In the recent years, Indian stock exchange has made rapid strides through the increasing development of digital technology and electronic trading terminals and this has only made trading better, quicker and safer. The National Stock Exchange is the latest, most modern and technology driven exchange market. Incorporated in 1992 and recognised as a stock exchange in 1993, the NSE has provided a nationwide fully automated trading system with high degree of transparency and equal access to investors. Today, NSE is one of the largest stock exchanges across the globe. The NIFTY 50 index is the flagship broad based stock index of the NSE. Launched in 1996, Nifty represents the weighted average of 50 Indian company stocks across 12 sectors. The NIFTY 50 holds a market capitalisation of $2.27 trillion. Keeping in view the pivotal role played by Nifty in a growing economy like that of India, this study is aimed at discovering the role and significance of the Nifty in its various aspects and the impact that the various macroeconomic variables have on it. II. OBJECTIVE  To study the impact of macroeconomic variables on the Nifty 50 Stock Index.  To examine the existence of correlation between Nifty and macroeconomic variables.  To present a trend analysis on the behaviour of the Nifty 50 using charts method. Importance of the Study The significance of this study is to understand the composition of the Nifty index. The study seeks evidences to check whether the different factors that frame the economy have their effect on the benchmark stock index. The study also presents a technical chart of the Nifty stock index. This brings into picture the performance of the index along with its various ups and lows in the market, in order to understand the working model of the Nifty. Limitations of the Study  The study brings into picture only the chosen 6 macroeconomic variables as a representative of the entire country’s economic factors. GDP, although an important variable, could not be included due to the non-availability of monthly data series.  The result and conclusion of this study may not be accurate considering the reliability of the secondary data, limitation on the variables and the time span of the study. Review of Literature Pethe and Karnik (2000) attempted to find the way in which stock indices were affected by the macroeconomic variables. The study had run causality tests and reported weak causality from IIP to Nifty and inferred that the state of economy had affected the stock prices. [1] Dasgupta (2012) examined the long-run and short-run relationships between Nifty and 4 factors and observed that all the variables had contained a unit root and are integrated of order one and concluded that the stock markets had no informational efficiency.[2] Ahuja, Chandni and Sakshi (2012) examined the existence of correlation between Sensex indices and its sectors with 7 macroeconomic variables by applying correlation, regression, unit-root and granger causality tests for the analysis and inferred that FII, exchange rate and call rate had shown significant relationship and other variables did not cause an impact.[3]

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Pai and Basha (2014) analysed the impact of 10 macroeconomic variables on the Nifty index for the period from 2002 – 2013 by applying ADF test, granger causality test and ARIMA model and found that while a few variables affected the index returns, a few did not affect.[4] Macroeconomic Variables  Money Supply Money supply refers to the total stock of money in circulation among the public at a particular point of time. The study takes into picture M3 which is also known as broad money.  Exchange Rate An exchange rate is the rate at which one currency will be exchanged for another. This study uses the nominal exchange rate of the Indian Rupee against one unit of the US Dollar.  Consumer Price Index (CPI) The CPI is a measure of the price changes in a basket of goods consumed in a market. It is also commonly used measure of inflation and hence an important macroeconomic factor.  Index of Industrial Production (IIP) The IIP measures the overall economic activity in the various sectors of the Industrial sector. It is considered as a measure to weigh the growth rate of the economy’s real sector.  Gold Price Gold is considered as an alternate avenue for investment by the Indian investors. This study makes use of monthly prices of gold per 10 gms in the domestic market.  Call Money Rate The call money rate is the interest rate on the short-term loans provided by banks to brokers who again lend the money to investors in order to fund margin accounts. Symbol NSE M3 ExR CPI IIP GP CMR

Variable Base Units NSE Nifty 50 1995-96 = 1000 Crores Money Supply Actual Value Billion (Rs) Exchange Rate Actual Value Rupee per unit of USD Consumer Price Index 2011-12 = 100 Number Index of Industrial Production 2011-12 = 100 Number Gold Price Actual Value Rupees per 10gms Call Money Rate Percentage Percentage per annum Graph 1 Line graph represents the trend of Nifty 50 for the period Jan 2014 - Dec 2018

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Graph 2, 3 Represents Nifty 50 Index using Japanese Candlestick model

Data Analysis and Interpretation The study made use of secondary data from various sources, published and authenticated by the National Stock Exchange, Reserve Bank of India and the Government of India. The analysis comprised of empirical evidence on the stock index and other variables, obtained by applying various descriptive statistics. In order to test the impact of the macroeconomic variables on the stock market, the analysis employed Karl Pearson’s correlation test and multiple regression analysis. The analysis and its relevant interpretation are as follows. Table 2 Descriptive Statistics Sum NIFTY Money Supply Exchange Rate CPI IIP Gold Price Call Money Rate

Mean

Standard Deviation

Maximum

Minimum

Range

529027.28

8817.12

1326.61

11498.43

6093.29

5405.14

7129076.81

118817.95

15302.08

145741.75

92881.53

52860.22

3912.00

65.20

3.12

73.66

59.31

14.35

7703.10 7156.50 1721432.58

128.40 119.30 28690.54

7.90 8.00 1742.35

140.80 140.30 31489.29

113.60 106.00 25207.38

27.20 34.30 6281.91

406.75

6.78

0.83

8.37

5.87

2.50

Interpretation From the descriptive statistics, the Nifty index had a high of 11498.43 and a low of 6093.29, average of 8817.12 and a standard deviation of 1326.61. The mean money supply in the economy was 118817.95 with a

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 range of 52860.22. The exchange was high at 73.66 and low at 59.33. The average of CPI and IIP was 128.4 and 119.3 respectively. Gold price was maximum at 31489.29 and minimum at 25207.38 with a standard deviation of 1742.35. The average call money rate was at 6.78 during the 5-year period. Correlation Analysis From the collected secondary data, Karl Pearson’s correlation test was applied. The standard level of significance for the analysis was taken at 5% and the appropriate statements of hypothesis being framed. H0 : There is no significant relationship between the macroeconomic variables and NIFTY. H1 : There is a significant relationship between the macroeconomic variables and NIFTY. Money Exchange CPI IIP Gold Call Supply Rate Price Money Rate -.518 .725 -.451 -.705 Correlation .896 .889 .000 .000 .000 .000 .000 .000 Sig. 60 60 60 60 60 60 N Interpretation The analysis reported a very significant and strong relationship between all of the macroeconomic variables and Nifty. Money supply and IIP have a positive relationship. Exchange rate, CPI, gold price and call money rate have a negative relationship. (Accept H1) Regression Analysis Since correlation isn’t too strong an analysis to conclude about the impact of macroeconomic variables on the Indian stock market, the study utilises multiple regression analysis using SPSS to answer the research problem. Model Summary R

R Square

Adjusted R Square

Std. Error of the Estimate

.972a

.945

.939

327.81777

Predictors:(Constant), Money Supply, Exchange Rate, CPI, IIP, Gold Price, Call Money Rate

ANOVAb Model

Sum of Squares

df

Mean Square

F

Sig.

Regression

9.814E7

6

1.636E7

152.203

.000a

Residual

5695617.888

53

107464.488

Total

1.038E8

59

Predictors:(Constant), Money Supply, Exchange Rate, CPI, IIP, Gold Price, Call Money Rate Dependent Variable: NIFTY

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Coefficientsa

Model

Unstandardized Coefficients B

Std. Error

-6632.566

3894.236

.098

.020

Exchange Rate

-192.920

CPI

Standardized Coefficients

t

Sig.

Beta -5.703

.000

1.134

4.932

.000

21.514

-.453

-8.967

.000

125.225

38.201

-.752

-3.278

.000

IIP

9.748

10.153

.122

4.504

.000

Gold Price

-.150

.032

-.198

-4.639

.000

Call Money Rate

-847.525

121.457

-.529

-6.978

.000

(Constant) Money Supply

Dependent Variable: NIFTY Interpretation:= A multiple regression analysis was applied in order to derive the effect of the individual macroeconomic variables on the Nifty index. The results observed that each of the macroeconomic variables do affect Nifty. The R-squared value which indicates the model fitness of the regression equation, suggests that 95% (approx.) of the variability of Nifty is accounted for by the macroeconomic variables considered in the analysis. III. FINDINGS  The Nifty 50 stock index has seen a steady and significant rise over the past 5 years.  All of the chosen macroeconomic variables, with a combined r value of 0.7, the correlation test reported a significant moderate to strong correlation with Nifty.  The multiple regression analysis, with a model fit of 95% accounted for the impact of the macroeconomic variables on the Nifty index.  Money Supply and Index of Industrial Production indicated a positive relationship with Nifty.  Exchange Rate, Consumer Price Index, Gold Price and Call Money Rate reported a negative relationship with Nifty. IV. SUGGESTIONS Since the study found the collective impact of all the chosen macroeconomic variables on the stock exchange market, the index could consider revising the model adopted by it. The stock index must also be conscious of the baseless rumours on the performances of its component companies which invariably affect their stock returns. The Government of India also has a major role to play with regard to the introduction of various schemes and budgets. It is noteworthy that this study is only for educational purpose and was only aimed at enquiring the impact of macroeconomic variables on the stock market. There are other significant factors that impact the stock returns and a potential investor must scrutinise all of them before making an investment. Therefore, this research shall not be considered conclusive enough for making any sort of investment.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

V. CONCLUSION The research study was essential in exploring Nifty 50 stock market index, its components and the various sectors that form a part of it. It was helpful in understanding of the functioning of the Indian stock market pricing and the return generating mechanisms. The study performed the relevant analysis in order to answer the research question whether macroeconomic variables affect the Indian stock market. The study concluded that all of the macroeconomic variables do affect the Indian capital market. While money supply and index of industrial production reported a positive relationship, exchange rate, consumer price index, gold price and call money rate indicated a negative relationship with Nifty. VI. REFERENCES BOOKS and WEBSITES 1. “Secondary Market & Stock Exchange” - TN Higher Secondary Commerce Textbook 2. “National Stock Exchange of India” - NCERT Business Studies - Part II Textbook 3. “Nifty 50 Stock Index” - Investment Management by Dr. L. Natarajan 4. “Line charts and Japanese candlestick charts” - Investment Management 5. “National Stock Exchange of India” - www.nseindia.com 6. “NIFTY 50 Stock Index” - www.niftyindices.com Journals 1. Pethe, Abhay & Karnik, Ajit. (2000). Do Indian Stock Markets Matter? Stock Market Indices and Macro-Economic Variables. Economic and Political Weekly. 35. 349-356. 10.2307/4408881. 2. Dasgupta, Ranjan. (2012). Long-run and short-run relationships between BSE SENSEX and macroeconomic variables. International Research Journal of Finance and Economics. 95. 135-150. 3. A. K. Ahuja, Chandni and Saakshi (2012). A Study of the effect of Macroeconomic Variables on Stock Market: Indian Perspective. MPRA Paper No. 43313. 4. Rajesh Jayakar Pai and Dr. S. Kareemulla Basha (2014). Impact of Macroeconomic Variables on Nifty Returns in India. The International Journal’s Research Journal of Science & IT Management Vol. 3 No. Secondary Data Source 1. NIFTY Index Historical Data i. www.nseindia.com/products/content/equities/indices/historical_index_data 2. Consumer Price Index i. https://data.gov.in/consumer-price-index 3. Index of Industrial Production: i. http://mospi.nic.in/iip-2011-12-series 4. Money Supply, Exchange Rate, Gold Price and Call Money Rate: i. https://dbie.rbi.org.in/DBIE/dbie.rbi?site=statistics

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON THE INFLUENCE OF ENTERTAINMENT MARKETING AND CUSTOMER ATTRACTION BY SHOPPING MALLS WITH SPECIAL REFERENCE TO SHOPPING MALLS IN CHENNAI CITY M. PRAVEEN Final Year, Department of Accounting & Finance Ramakrishna Mission Vivekananda College Evening College (Autonomous) Mylapore, Chennai – 600004. ABSTRACT In this increasingly competitive global environment, entertainment marketing has become more relevant for the shopping malls. The research in the area of shopping mall is limited to Chennai. The connection between entertainment marketing practices and customer attraction has been of interest in performance of shopping malls in Chennai. It is against this background that this research was carried out to establish the extent to which entertainment strategies are used by shopping malls in Chennai to attract consumers who seek fun and enjoyment through their mall activities. These attractiveness attributes covered five factors. The research target population is ten shopping malls and respondents consisted of marketing managers, tenants and shopkeepers and common people. A descriptive research design was used and primary data were collected through semistructured questionnaires which were filled using intercept interviews approach systematic sampling. Three objectives were examined. The most important finding showed that all seven factors have a positive effect on customer attraction to a shopping mall in the Chennai. The positive experiences result in repeat business; and that entertainment can be an effective strategy of increasing customer visits and shopping malls performance. Further to this marketing of entertainment was perceived to encounter unique challenges in implementing the marketing tools. The research limitation was that the study was limited to Chennai city. Future research should study the moderating effect of variables such as brand image, the variety of stores, location and shoppers pursuing particular goods and services who are not generally drawn to entertainment activities. Keywords: Entertainment marketing, Customer attraction, Shopping malls I. INTRODUCTION The development in retailing has prompted to the rivalry between the shopping centres and the choice of which shopping centre to pick since every one of the shopping centres has stores that resemble the other. In view of the act that the number of shopping centres are increasing, customer shave tendency to be choosier. They will probably frequent shopping centres that are more alluring and have a wide assortment of stores and stock that match their inclinations (El-Adly, 2007). Consequently, it is fundamental for shopping centre supervisors to know the degree to which their shopping centres appeal their customers (Wong, 2001). In any case, features of a shopping centre that are appealing for a few customers are not necessarily appealing to others. Proposed research will provide an insight into the role of entertainment in influencing behaviour shopping. The Word "Mall" In Today’s World Has Become a Huge Component of Individuals Living in Metro and enormous urban communities. Shopping center Sarema shrouding over the entire nationata Quicker Pace. A Couple of Years Back, Individuals Felt That Shopping Centers Belonged To The Elite. However, Shopping Centre mad sessions wanormamongal individuals. Individuals back then, Needed to Choose between Shopping Stores or Motion Picture Theaters However Today All That is Accessible Under one stop shop with a wonderful shopping experience. Today, Individual struts that the shopping Centers Are The Best Place To Shop or Hang out (Adiwijaya,2008). II. OBJECTIVES OF THESTUDY 1. To identify the different forms of entertainment used by Chennai shopping malls to attract customers. 2. To assess the influence of marketing entertainment practices on customer shopping. 3. To determine shopping malls challenges of the customer entertainment marketing practices implementation. Review of Literature 1. Dr.AmitMittal(2015)The research was about “Determinant so shopping malls at activeness: The Indian context”. This paper identifies the main attributes that lead to shoppers’ patronage of a shopping mall in the Indian context. He identified 16 salient features under four dimensions-Merchandising, Variety and Selection, Milieu and Facilities and Convenience as determinants of Shopping malate activeness. 2. Ala'Eddin Mohammad Khalaf Ahmad (2012) The research was about “Attractiveness Factors Influencing Shoppers’ Satisfaction, Loyalty, and Word of Mouth: An Empirical Investigation of Saudi Arabia Shopping Malls”. The research purpose was to investigate the Attractiveness Factors Influencing Shoppers’ Satisfaction, Loyalty, and Word of Mouth in Saudi Arabia shopping malls.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 The main objective of the study was to examine the effect of shopper’s satisfaction on outcomes of satisfaction namely (loyalty and WOM). 3. Lather and Kaur (2006) in their papers, they studied various malls and established the relationship between these hoppers’ behaviour and various attributes/indicator so stores in malls. They observed that most of the customer soot look a the pricing lone. They are looking for a sense be longing ness, a bran do quality an dinner action they can trust. Small retailers no longer remain the primary source for the basic monthly shopping basket. The consumer normally gets better prices, quality selection and convenience for these purchases at organised retail chains and shopping malls. 4. Mehta (2006) in her study examined the expectations of people of Ludhiana, India, towards overall shopping experience and entertainment towards shopping malls. She found that people don’t just buy a product in a mall, they buy an experience. On being asked to rank the features in the mall that would attracts the customers, people gave the following ranking in the order of preference: shopping experience, eating joints, entertainment, apparel section, jewellery, music / books section, reasonable prices, decoration items and beauty saloons. She gave certain suggestions to make the mall more appealing to the customers like free parking for the regular customers / heavy purchasers. Such customers may be issued a parking card, which ensures free earmarked parking. Malls with PVR multiplex should offer “weekend specials” like classics, movies for children,etc. 5. Cox and Cooke (1970) they determined customer preference for shopping centres and the significance of driving time. The authors concluded that location and attractiveness are important determinants of consumer shopping centre preferences. Kim and Kang (1997) identified seven factors influencing the patronage of malls, strip malls, power centres and factory outlets, only lower prices, easy product return and convenience – a factor comprising trading hours–wearer graded a important by patron snowfall our retail formats. Data Analysis and Interpretation 1) Chi-Square Test i. Relationship between collecting information about the malls and visiting ofmalls: Hypothesis Test H0– Null hypothesis, there is no significance relationship between collecting information about the malls and visiting of malls. H1– Alternate hypothesis, there is a significance relationship between collecting information about the malls and visiting of malls. Table 1 chi-square test Value

Df

Asymp. Sig. (2-sided)

Pearson Chi-Square

52.073a

24

.001

Likelihood Ratio Linear-by-Linear Association

26.450

24

.331

.104

1

.747

N of Valid Cases 105 Interpretation From the table no. 1 it shows that,as the significance value of Pearson chi-square is less than 0.05 i.e., (0.001) there is a significance relationship between collecting information about the malls and visiting of malls in Chennai city. Hence H0– Null hypothesis is rejected ii. Relationship between income and expenses made in malls in a single visit Hypothesis Test H0– Null hypothesis, there is no significance relationship between income and expenses made in malls in a singlevisit. H1– Alternate hypothesis, there is a significance relationship between income and expenses made in malls in a single visit.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table 2 chi-square test Value

Df

Asymp. Sig. (2-sided)

Pearson Chi-Square

21.741a

12

.041

Likelihood Ratio Linear-by-Linear Association

17.674

12

.126

9.906

1

.002

N of Valid Cases 105 Interpretation From the table no. 2 it shows that, as the significance value of Pearson chi-square is less than 0.05 i.e., (0.041) there is a significance relationship between income of the people and how much they spend in malls in a single visit.Hence H0 – Null hypothesis is rejected Anova test i. Difference with respect to entertainments in malls and age factor: H0– There is no significant difference in respect to entertainments in malls on the basis of age factor. H1 – There is significant difference in respect to entertainments in malls on the basis of age factor. Testing of Hypothesis Table -3 ANOVA

Sum of Squares

df

Mean Square

F

Sig.

Between Groups 1.272 3 .424 1.059 .370 Within Groups 40.456 101 .401 Total 41.729 104 Interpretation It is clear from the above table no. 3thatsignificancelevelofAnovatestismore than 0.05 i.e., (0.370) there is no significance difference in respect to entertainments in malls on the basis of age factor .Hence H0 – Null hypothesis is accepted ii. Difference with respect to shopping comfort in malls and gender H0– There is no significant difference in respect to shopping comfort in malls on the basis of gender. H1 – There is significant difference in respect to shopping comfort in malls on the basis of gender. Testing of Hypothesis Table 4 ANOVA

Sum of Squares

df

Mean Square

F

Sig.

.012

1

.012

.048

.826

Between Groups Within Groups 26.250 103 .255 Total 26.262 104 Interpretation It is clear from the above table no. 4thatsignificancelevelofAnovatestismore than 0.05 i.e., (0.826) there is no significance difference in respect to shopping comfort in malls on the basis of gender.Hence H0 – Null hypothesis is accepted

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 III. FINDINGS  With the research targeting 150 respondents as the sample size, 105 questionnaires were filled in a response of70%.  It is clear from my study that most of the respondents i.e., (57.1%) are between 20-35 years of age group.  Itisclearfrommystudythatmostoftherespondentsvisitingmallsarestudentsi.e.,63.8% and 29.5% of the respondents are employedpersons.  Therespondentsagreedtoagreatextentthattheentertainmentmarketingstrategieswhich were used attracted the consumers to the mall. Cinemas were the highest attraction attribute to the shopping mall (i.e., more than 80% of therespondents).  According to the findings, most of the respondent’s favourite combination at shopping malls is “shopping + food + entertainment” (i.e., 51.4%) and 31.4% of respondents favourite combination is “food +entertainment”.  According to the findings, that respondents with 29.5% spends less than 500 in malls in a singlevisit.Andrespondentswith37.1%,23.8%,5.7%and3.8%spends501-1000,1001- 2000, 2001-5000, more than 5000respectively.  It is clear from the study that 43.8% of respondents are collect information about malls from social media and respondents for television, friends, E-mail and internet/website are 25.7%, 23.8%, 1% and 5.7%respectively.  Itisclearfromthestudythat35.2%ofrespondentsvisitsciticentreand34.3%visits phoenixmarketcity,andrespondentsforvisitingEA,spencer,grandmall,VRmall,forum mall are 17.1%, 2.9%, 1%, 1% and 8.6%respectively. IV. SUGGESTION Based on the research and findings, it would be worthwhile to explore other effects on variables which could influences popping experience and customers visits in the shopping mall such as variety of stores, brand image, macro environment and distinct shopper segments with different motivations and varying levels of importance on entertainment and performance of malls. The behavior of consumers when shopping has been changing over the decades from over the store purchase to shopping malls that are enclosed within atmosphere that is comfortable with favourable air conditioning facility. Such alterations as a result of automobile popularization, inventions and a highway system creation which opens up the opportunity for an out-of-town shopping Centre and acting as the catalyst for shopping Centre in dusty development. Today, shopping centers represents an essential element of social and economic health in community and becoming a part of the daily life. V. CONCLUSION It shopping malls in Chennai city have employed the following entertainment marketing strategies: Cinemas, Social networking platforms, Sponsoring of celebrities, Sports sponsorship and Free Wi-Fi to attract customers. The research concludes that marketing entertainment endeavors in educating, entertaining, and informing customers in order to earn their trust over time. Marketing entertainment used maps the products content to the buyer’s journey, takes a customer-centric approach and based on the right content formula to suit the desired market segment and Marketing entertainment used provided exclusive information that your audience. VI. REFERENCES 1. Ala’Eddin Mohammad Khalaf Ahmad (November 9, 2012), Attractiveness Factors Influencing Shoppers’ Satisfaction, Loyalty, and Word of mouth: An Empirical Investigation of Saudi Arabia Shopping Malls 2. Dr. Amit Mittal*, Dr. DeepikaJhamb* (year 2015), Determinants of Shopping Mall Attractiveness: “The Indian Context” 3. Widiyani (year 2018), “Shopping behaviour in malls” 4. KothapalleInthiyaz* (January 2017), A Study on Attractiveness Factors Influencing Shoppers’ Satisfaction, Loyalty, and Word of mouth in Shopping malls at Bangalore city. 5. S. priya (November 2017), Determinants of Shopping Mall Attractiveness. 6. https://www.google.com/url?sa=t&source=web&ct=j&url=http://shodhganga.inflibnet.ac.in/bits tream 7. https://www.google.com/url?sa=t&source=web&ct=j&url=http://shodhganga.inflibnet.ac.in/jsp ui/bitstream/10603/190702/6 8. https://www.google.com/url?sa=t&source=web&ct=j&url=http://shodhganga.inflibnet.ac.in/jsp ui/bitstream/10603/182088/11/11

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Contemporary Issues in Business Banking and Finance

A STUDY ON USAGE OF DEBIT CARD WITH REFERENCE TO CHENNAI CITY IYER HARIHARAN KRISHNAN Final year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai-600004, ABSTRACT Perception of cardholders and member establishments towards Debit card in India is a study that examines the perspective of users as well as member establishments has towards the use of Debit card. It focuses on some vital aspects like challenges experienced by customers and bankers, value attribution to Debit card adaption and some factors attracting the to adopt and use Debit card. It also analyses the current status and trends of Debit card. The objectives of the study required the study of both users and member establishments to know their perceptions. In the present study, database of both primary and secondary sources has been used. The data and information regarding the growth and indicators of plastic money in India was collected from secondary source which included periodicals, published annual reports of central banks and other reports. The data for users and member establishment’s perception towards plastic money was collected using well-structured and pre-tested questionnaires from India. The sample size for users was 102 respondents ‘establishments. The analysis was done using statistical techniques like ANOVA, Chi-square, Correlation, and Regression. Keywords: Usage of Debit Card I. INTRODUCTION A debit card is a payment card that deducts money directly from a consumer’s checking account to pay for a purchase. Debit cards eliminates the need to carry cash or physical cheques to make purchases. In addition, debit cards, also called check cards, offer the convenience of credit cards and many of the same consumer protections when issued by major payment processors like Visa or MasterCard.Unlike credit card, they do not allow the user to go into debt, except for small negative balances that might be incurred if the account holder has signed up for overdraft protection. However, debit cards usually have daily purchase limits, meaning it may not be possible to make an especially large purchase with a debit card. II. OBJECTIVES 1. To know the perception of people towards Debit Card. 2. To know the importance of Debit card in the daily life of consumers. 3. To study the benefit of debit cards. Limitation of the Study  The study was confined to Chennai city only therefore the findings of the study cannot be extended to other areas.  The study is based on both primary and secondary data. The subjectivity of the respondents may reflect on the study.  The study is confined to debit card holders only.  Time is other factor limiting the study to a sample of 102 respondents.  People are reluctant to give information for the fear being used against them. Review of Literature 1. Fienberg Richard A. (December 1986): It was found that consumers prefer debit card over paper money and major benefit that card provides to customers the convenience and acceptability. The major problem according to them is the increased transactional costs and unnecessary formalities to procure the cards from the financial institution. They felt the future of debit card is bright and according to them, the next thing to come via technology would be the use of digital signatures. 2. Wright.R (2005): Copious research has been conducted regarding the technology of debit cards, I which most examined the difference in using debit cards with other means of monetary transaction, credit cards and cash withdrawals through ATMs. 3. Hartley. P (2007):Who analysed the effect of debit cards, electric fund transfer point of sale (EFTPOS) terminals and ATMs in respect of the circulation of Belgian currency, found that the number of EFT-POS terminals had a negative impact on the currency in circulation, while a weak positive effect was found for the number of payment cards. This is because consumers have no need to worry if they have any shortage of cash in their wallets, as they are guaranteed that there will be an EFT-POS terminal available to assist their purchasing transactions. The study also found that the number of ATMs placed in Belgium had a positive short-run effect on currency demand, as the availability of ATMs had improved the ease of obtaining cash. Hence, this discouraged consumers from keeping large amounts of cash in their wallets.

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Contemporary Issues in Business Banking and Finance

4.

Klee (2009):Showed that more consumers choose Debit Card over cheque as they expect debit card transaction are faster than cheque transaction. Also, the study suggested that debit cards to purchase in smaller amounts, which is perceived as enabling users to make more convenient purchases without hassle of counting notes. 5. Dr. Subhani Muhammad Imtiaz (2010): Showed that different categories of individuals have different preferences in the interchange usage of these two types of plastic card. According to the findings of the studies, younger people prefer debit cards, while individuals from older age groups prefer credit cards. This is due to the lack of\ income obtained by the younger generation, who do not necessarily have the capacity for debt payment and, consequently, have smaller credit limits. Data Analysis and Interpretation Correlation analysis Table 1. Debit Card is the safest mode of transaction and Due to Duplicity are you changing to Debit Card. Is Debit Due to Duplicity Card A Are You Correlations Safest Mode Changing to Debit of Card Transaction Is Debit Card A Safest Pearson Correlation 1 .246* Mode of Transaction Sig. (2-Tailed) .013 N 102 102 Due to Dupilicity Are Pearson Correlation .246* 1 You Changing to Debit Sig. (2-Tailed) .013 Card N 102 102 Interpretation: From the Table 1.1 shows the value of Correlation and its significance level. It is clear from the table that the significance level is more than 0.05. Hence it is inferred that there is no significant relationship between the 2 variables. Anova Analysis Hypothesis H0: There is no significant difference between Monthly Income and Its purpose of usage. H1: There is a significant difference between Monthly Income and Its purpose of usage. Table 1 Represents ANOVA analysis of Monthly Income and Purpose of Usage

InterpretatioN: From the Table 1.2 shows the value of F and its significance level. It is clear from the table that the significant level is less than 0.05. Hence it is inferred that there is a significant difference between the 2 variables. Therefore, H1 is proved.

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Chi-Square Analysis Hypothesis H0: There no significant association between Status of usage and Debit card purpose of usage. H1: There is a significant association between Status of usage and Debit card purpose of usage. Table: 3 Represents the Chi-Square analysis of status of usage and how many debit cards you use. Chi-Square Tests Value df Asp. Sig. (2-sided) Pearson Chi-Square 17.487a 9 .042 Likelihood Ratio 16.819 9 .052 Linear-by-Linear Association 9.523 1 .002 N of Valid Cases 102 Interpretation: From the Table 1.3 shows the value of Chi-square and its significant level. It is clear from the table that the significant level is less than 0.05. Hence is it inferred that there is an association between 2 variables. Therefore, H1 is proved. REGRESSION ANALYSIS Table 4 Represents the Regression analysis of Monthly income and Number of Debit Cards the respondents use. ANOVA Model Sum of Squares Df Mean Square 1 Regression 3.844 1 3.844 Residual 55.175 100 .552 Total 59.020 101 a. Predictors: (Constant), MONTHLY INCOME b. Dependent Variable: HOW MANY DEBIT CARDS YOU USE Model

1

(Constant)

Coefficients Unstandardized Coefficients B Std. Error 1.121 .139

Standardized Coefficients Beta

MONTHLY .167 .063 .255 INCOME a. Dependent Variable: HOW MANY DEBIT CARDS YOU USE

F 6.967

t

8.07 1 2.64 0

Sig. .010a

Sig.

.000 .010

Interpretation: From the Table 1.4 shows the value of beta and its significance level. It is clear from the table that variables such as Monthly income and the number of Debit cards the respondents use have significant level less than 0.05. Hence it is inferred that these factors influence the usage Debit cards. III. FINDINGS ďƒ˜ In the Correlation Analysis it is found that there is a significant relationship between the two statement (Debit card is the safest mode of Transaction and Due to duplicity are they shifting to Debit cards) as the significance level is 0.13. ďƒ˜ In the ANOVA analysis it is found that there is a significant difference between the two variables (Monthly Income and Debit Cards purpose of usage) as the significance level is 0.007. Therefore, H1 is proved.

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

In the Chi-square analysis it is found that there is a significant association between the two variables (Status of usage and Debit card purpose of usage) as the significance level is 0.042. Therefore, H1 is proved.  In the Regression analysis it is found that the two variables analysed influence the Usage of Debit (Monthly income and the number of Debit Cards the respondents use) as the significance level is 0.010. IV. SUGGESTION  The Debit card issuer should take necessary steps in spreading awareness among the Female cardholders, Senior citizens aging More than 50 years, Government Employee and to the income group ranging from 20,000-50,000.  The respondents propose to purchase a Debit card for the purpose of money transaction. The card issuing authority should encourage the card holders for Online purchase, shopping and Ticket reservation also (remove charges on online fund transfer, debit card with respect to online transactions).  It is suggested that Other Banks Debit cards issuing authority should take necessary steps in improving their card market to the card holders by way of advertisement which is lesser proportion in the market.  It is suggested that the banks should take proper steps to make the cardholders increase their usage of Debit Cards. (moral problems with regard to overspending). This can be done through various cashback offers, tie-ups with retailers, etc.  The Debit card issuers try to influence more people to buy cards and also make the existing cardholders to use more of their cards.  The card issuing authority should take necessary steps for replacing the debit card before the expiry date to fulfil the necessity of the cardholders. V. CONCLUSION The study on “Usage of Debit Cards with Reference to Chennai city” has been analysed. Regarding to this analysis it was found out that the Debit Cards usage has to be increased by creating awareness among the cardholders. The card issuing authority should take necessary steps in make the cardholder to use their card mainly on online purchase by giving more incentives like discount, cashback offers etc., In this research it was found that majority of the respondents are using only 1 Debit card so the card issuer should take proper steps to make sure that the cardholders buy more cards. The issuer of the card should take prompt steps to sell their debit card for new cardholder and satisfy the needs of the existing cardholders. Thus, I conclude that the card issuer of various banks in this study should take a right marketing strategy to maintain the existing cardholders and attracting new users for achieving long term profitability, survival and stability of Debit cards business at present and growth of economy of our country in future. VI. REFERENCE Books 1) Research Methodology By Koothari 2) Banking and Finance Margham Publication by B. Santhanam. Other Reference 1) Feinberg Richard A. (December 1986). “Debit Cards as Spending Facilitating Stimuli: A Conditioning Interpretation Journal of Research (Volume13) https://noppa.aalto.fi/noppa/kurssi/23e4 8000/luennot/23E48000_feinberg__1986_.pdf. 2) R. Wright. 2005. “A Model of Money and Debit with Application to the Debit Card.” Mimeo. 3) P. Hartley. 2007. “Consumer Rationality and Debit Cards.” Journal of Political Economy 103:400–433. 4) Klee, E. C. 2009. “Families Use of Payment Instruments During a Decade of Change in the U.S. Payment System.” Board of Governors of the Federal Reserve System. Finance and Economics Discussion Series 2006-01. 5) Dr. Subhani Muhammad Imtiaz, (2011). “Debit Cards Charisma for Now and Then”. European Journal of Scientific Research (Vol.62.No1,pp.123-127) http://mpra.ub.unimuenchen.de/34739/1/MPRA_paper_34739.pdf

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A STUDY ON VIEWERS SATISFACTION TOWARDS TAMIL NEWS CHANNELS WITH REFERENCE TO CHENNAI CITY B. ARUNGANESH Final year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai-04.: ABSTRACT The Television media which are always the most powerful means of mass communication in the world can serve as the medium of information, education and entertainment and thus television has become an essential part of our life. Television is a combination of technology and cultural forms and as this industry also finds itself at the heart of all kinds of commercial and industry strategies. Television is a medium which is used to express the social concern and the political views creatively. Televisions in the recent days have grown tremendous because of new markets, cultural introduction, and in situations becoming a challenge to even the government as they bring out the unfamiliar images to the audience. The present study is based on the identification of viewership preference/satisfaction towards Tamil news channels. The competition in the news channel industry in the current scenario hinges on this very factor. The paper attempts to explore the impact of viewer’s satisfaction and their preference on various Tamil news channels and the overall satisfaction on the viewership, the effect of repositioning efforts, and preference for news channels based on various factors. Keywords: Media, Viewership , Satisfaction ,Preference I. INTRODUCTION India's growing economy, a vast, rapidly expanding middle class (variously estimated to be between 200 and 250 million) with aspirations to a Western lifestyles and a fast-growing advertising sector have made the Indian media market exceptionally attractive. The proliferation of television channels and news in particular came at the same time as a historic decline in the audience for news programming. Thus in an increasingly competitive market, broadcasters were chasing to increase market share-but only a bigger slice of a diminishing cake. This research attempts to explore the impact of viewer’s satisfaction and their preference on various news channels and the overall satisfaction on the viewership, the effect of repositioning efforts, and preference for news channels based on various factors. Statement of Problem No news channel in Tamilnadu is unbiased. All are biased in one way or another. Some are biased due to their own political party. Some are biased due to their support or the support from other political party. Some of them biased due to TRP rating and advertisement. If a new channel is biased based on party or supporting party will not confuse people for so long. Once they know their activities people will figure out what the hidden truth is. if a TV channel is biased based on TRP rating and for money they are worst of them all. The reason is they will showing a good thing as bad and bad thing as good with some fancy catch phrases. Since all Tamil channels are biased, to know viewer’s satisfaction following study is conducted II. OBJECTIVES OF THE STUDY 1. To know the preferred news channels of the viewers 2. To know which segments viewers follow regularly. 3. To know satisfaction level of viewers towards TRAI`s new regulations. 4. To find out the various factors influencing the viewer's satisfaction Scope of the Study The scope of the study can be extended further by studying the impact of each factor on the viewer's behavior. Furthermore, the study can be enhanced by dividing the population into segments like kids, youth, adults and old age people which would add further value to the study. The study can also be extended further to analyze the impact of the news channels on the people's mindset and behavior. Research Methodology  Primary data - The study is based mainly on primary data. Primary data will be collected from 150 viewers in Chennai city. People who watch TV a lot are given preference. The related data or information is obtained by administration of questionnaire through Google form and random sampling method is followed.  Secondary data - The major source of secondary or supporting data is internet, and journals are the source of information. The secondary sources of data will include data from Internet. Information of the news channels is collected through various websites.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Limitation of the Study  Generally, the secondary data has been collected from many sources. The gap of non-availability of data from one source has been fulfilled by referring to other sources. So, there is a chance of discrepancy.  The present study has been carried out in the Chennai city.  The study has been carried out with limited samples i.e. 150. So, it is difficult to generalize the findings of the study.  The limited statistical tools have been used. These techniques have their own limitations and they are bound to be present in the study.  The time and resources are other limiting factors for carrying out this type of research work. Review of Earlier Studies Hobsbawm (1968) said that there is a concern that too much news is creating an information overload, contributing to a structural erosion of the public sphere, where the viewer, bombarded with visuals, is unable to differentiate between public information and corporate propaganda However, news should be a stimulus to new thinking as Jean Seaton reminds us, 'not an anaesthetizing escape from it. Bob Franklin (1977) noted that news media have increasingly become part of the entertainment industry instead of providing a forum for informed debate of key issue of public concern. Entertainment has superseded the provision of information; human interest has supplanted the public interest; measured judgment has succumbed to sensationalism, the trivial has triumphed over the weighty; the intimate relationships of celebrities, from soap operas, the world of sport or the royal families are judged more “newsworthy" than the reporting of significant issues and events of international consequences. Traditional news values have been undermining new values; infotainment is rampant. Colin sparks (2000) said that the tabloidization of news showed in it giving relatively little attention to politics, economicsand society and relatively much diversion like sports, scandals and popular entertainment, and relatively much attention to the personal and private lives of people, both celebrities and ordinary people and relatively little to political processes, economic development, and social changes. Ninan (2006) interpreted Currently TV new is a study in the poverty that comes with plenty. More channels means more frenzied competition, and the less sense the viewer gets of the reality behind the political spokesman's bluster, or the anchors chummy wrapping up of some non-discussion. Theoretical Overview The Indian entertainment and media industry has outperformed the Indian economy and is one of the fastest growing sectors in India. It is riding on the back of economic growth and escalating income levels that India has been experiencing in the past years. This is significantly benefitting the entertainment and media industry in India as this is a cyclically sensitive industry and it grows faster when the economy is expanding. An added boost to the entertainment and media industry in India is from the demographic point of view where the consumer spending is rising due to increasing disposable incomes on account of sustained growth in income levels and reduction of personal income tax over the last decade. This provides an immense potential for growth since advertising revenues are the key to every segment in the Indian entertainment and media industry. National television news was the most trusted. .According to research conducted by Britain's media regulator office of communication television was by far the most important source for news. Television news is as important as a provider of public information, what is happening to television news, globally becomes one of the key areas of concern, not only for those who study, consume or produce television news but for society as a whole. News is not merely a media product but a vehicle for engagement in the democratic process, feeding off and into domestic politics and international relations. The growing commercialism of airwaves as a result of privatization of global communication hard and software the deregulation of broadcasting and the technological convergence between television, telecommunication and computing industries, have fundamentally changed the ecology of broadcasting. As television news has been commercialized the need to make it entertaining has become a crucial priority for broadcasters, as they are forced to borrow and adapt characteristics from entertainment genres and modes of conversation that privilege an informal communicative style, with its emphasis on personalities, style, storytelling skills and spectacles. News gathering particularly is an expensive operation requiring high levels of investment and consequently media executives are under constant pressure to deliver demographically desirable audiences for news and current affairs programming to contribute to profits or at least avoid losses. Thus in an increasingly competitive market, broadcasters were chasing to increase market share-but only a bigger slice of a diminishing cake.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Data Analysis and Interpretation Chart 1: Segments viewers follow regularly

Interpretation From the above chart 1, viewers follow current affairs regularly followed by sports, cinema, Education, Social security, business, and health care respectively. Table 1: Preferences of Tamil news channels

PuthiyaThalaimurai

Valid

Frequency Percent Valid Percent Cumulative Percent 39 17.8 26.0 26.0

ThanthiTv

25

11.4

16.7

42.7

Polimer News

27

12.3

18.0

60.7

News J

9

4.1

6.0

66.7

Sun News

23

10.5

15.3

82.0

News 7

14

6.4

9.3

91.3 100.0

Others

13

5.9

8.7

Total

150

68.5

100.0

150

100.0

Total

Interpretation From the above table 1, it is clear that the majority 39 respondents are puthiya thalaimurai, 27 respondents prefer Polimer News, 25 respondents prefer ThanthiTv, 23 respondents prefer sun news, 14 respondents prefer news7 , 13 respondents prefer other channels and 9 respondents prefer News J. Chart 2: Respondents view on TRAI'S new regulation

Interpretation From the above chart 2, it is clear that people neither agree nor disagree to the subscriptions for Tamil news channels based on TRAI'S new regulation is nominal. Hypothesis H0: There is no association between age and duration of watching news channels H1: There is association between age and duration of watching news channels

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table 2: Cross tabulation of age and duration of watching news channels Count Duration of watching news channel Less than 1 hour 1 hour to 2 hour 2 hour to 3 hour Total Age of the respondent Below 18 2 0 1 3

Total

18 to 25

63

9

3

75

26 to 40

1

3

1

5

above 40

21

22

24

67

87 34 29 Table 2.1: Chi-square tests of age and duration of watching news channels

150

Value Df Asymp. Sig. (2-sided) Pearson Chi-Square

47.656a 6 .000

Interpretation The above tables 2 and 2.1 shows the value of chi square & its significant value. It is clear from the table that significant value 0 which is lesser than 0.05. Hence it is inferred that there is association between age and duration of watching news channels III. FINDINGS  Viewers follow current affairs regularly followed by sports, cinema, Education, Social security, business, and health care, respectively.  It is clear that the majority 39 respondents are puthiya thalaimurai, 27 respondents prefer Polymer News, 25 respondents prefer ThanthiTv, 23 respondents prefer sun news, 14 respondents prefer news7 , 13 respondents prefer other channels and 9 respondents prefer News J  It is concluded that people neither agree nor disagree to the subscriptions for Tamil news channels based on TRAI'S new regulation is nominal.  It is inferred that there is association between age and duration of watching news channels  From the research it is found that there is relationship between understandability of news and news content of news channel  It is inferred that there is no relationship between understandability of news and presentation style of news  There is no difference between age and ratings given to Tamil news channels over English news channels  As per research, it is clear that there is no difference between gender and ratings given to Tamil news channels over English news channels  It is understood from the survey that there is no difference between understandability of news and preferred news channel  From the research it is found that fair theoretical background behind news provided is not influenced by news content.  From the study it is inferred that fair theoretical background behind news provided is not influenced by up to date information IV. SUGGESTIONS Based on the analysis and findings, the following recommendations were made:  News channels should take necessary steps to cover school going students.  To sustain in the market and to take the majority TRPratings all the news channels should think of repositioning strategies on timely basis  To create edge in the market it is very important that news channels depend on the reliability, coverage, updated information and most concerned factor, anchoring and also the presentation styles.  Viewer’s satisfaction is most important and all efforts to retain their attention should be done using the various factors like covering all the aspects of news from political news to that of economic news which impact the viewers  News channels should try to broaden the coverage of the contents such as current affairs, education, sports, business, cinema, health care and social security so that the viewers do not shift the preference. V. CONCLUSION The paramount significance of media in today’s society can hardly be over -emphasized. The role of media has become so all pervasive that it has become an integral part of the fabric of society and whether we acknowledge it or not, it plays a very influential role in shaping our thought processes and attitudinal patterns. TV is the most convenient source of getting NEWS. Among all Tamil news channels PuthiyaThalaimuraiis the most popular TV Tamil News channel. Viewers agree to the statement that up to date information, reliability, brand, quality of the news, coverage, accuracy, news content, presentation style, anchoring, entertainment are those factors which influence them to feel satisfy towards preferred news channel. Current affairs is the segment

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 regularly viewed by viewers followed by sports, cinema, education, social security, business, health care respectively. Viewers feel that subscription fee for Tamil news channel as per TRAI`s new regulation is nominal. VI. REFERENCES 1. Hobsbown (1968) Journalism And Mass Communication. UpkarPrakashan. pp. 42–.ISBN 978-81-7482108-9. 2. Bob Franklin (1977), Marketing Management, Vth edition, Tata McGraw Hills, Pg no.-265-273. 3. Colin Sparks(2000), Television And Children: ASpecial Medium For Special Audience, Sage,Thousand Oaks.4 4. Ninan (2006). MarketingResearch An Applied Orientation, 3rd Edition,Pearson Education: New Delhi.10.Saxena Rajan, Marketing Management, Edition, Vikaspublishing house, Pg no.-87-95 5. http://www.pressreference.com/GuKu/India.html 6. https://bebusinessed.com/history/history-of-the-television/ 7. https://en.wikipedia.org/wiki

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PARENTS PREFERENCE TO PUBLIC OR PRIVATE SCHOOL WITH SPECIAL REFERENCE TO T. NAGAR IN CHENNAI CITY K. MAHESH Final year, Department of Accounting and Finance, Ramakrishna Mission Vivekanada college, Evening college (Autonomous), Mylapore, Chennai 600004. ABSTRACT Education is that the method of facilitating learning, or the acquisition of data, skills, values, beliefs, and habits. Educational strategies embrace storytelling, discussion, teaching, training, and directed analysis. Education frequently takes place below the steering of educators and conjointly learners may educate themselves. Education will ensues in formal or informal settings and any expertise that contains a formative result on the method one thinks, feels, or acts is also thought about academic. The methodology of teaching is called pedagogy. Formal education is commonly divided formally into such stages as educational institution or preschool, grade school, middle school then school, or university. Keywords: Education, school I. INTRODUCTION School selection could be a nationwide movement that empowers folks by sanctionative them to form the simplest potential selection for his or her children’s education. In short, it puts power within the hands of oldsters to make your mind up which kind of education most closely fits the wants of their explicit kid-whether or not that’s a public, non-public or spiritual establishment, or educating their kid reception. School selection conjointly protects parents' constitutional rights to direct their children's upbringing in accordance with the values, principles and spiritual convictions they hold treasure. II. OBJECTIVES 1. To identify the parent’s preference towards private and public schools. 2. To identify and analysis the factors that have influence towards parent’s preference. 3. To analysis whether parents have biased view while school selection. Methodology Primary data is the process of collecting data at the basic, i.e. first source from the respondents. In order to fulfill the objective set, the primary data was collected in the form of responses from parents in T.Nagar. The parents are the respondents who provide information regarding their understanding, opinion, experiences and perception towards the schools in T.Nagar. The study was undertaken by a well framed questionnaire that was duly filled by the respondents. The respondents were selected with varying background based on the aspects lie their child gender, occupation, school fees, prospectus of school in the areas of T.Nagar. Primary data is collected through survey method (questionnaire, personal interviews, observation) from the respondents. Data collection source The major source of collection of data is through primary data. Primary Data The data has been collected through • Questionnaire survey • Face to face interviews Sample size: • Sample size restricted to 50 people and a maximum of 100 people. Sample area: • T.Nagar Review of literature 1. The effect of school choice on student outcomes Julie berry Cullen (2003) This paper uses lotteries to estimate the causal impact on student’s outcome of gaining access for all dimensions and systematic evidence. This is true for a variety of subgroups of students, the results do not appear for compensating behavior on the part of parents.The results here suggest that when deciding which schools to attend, students and parents may be concerned not only with traditional academic benefits, but also other factors related to safety or non-academic amenities. Second, the findings presented here suggest that a student’s relative position among peers may be an important factor determining academic success. So basically we need the evidence to evaluate themselves.

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2. Why parents choose public or private schools Adrian beavis (2004) The reason for selecting a public or private school are influenced by the factors such as their discipline, moral and religious values being embraced and followed. Many interesting questions arises. We don’t know from this study how parents view values from parents and how it is followed in schools. Some schools provide a ‘better education so parents are to make informed choices between schools. The study identified a number of differences between parents who send their children to government and non-government schools. 3. Parent’s critical role in their children’s career choices and aspirations Clutter (2010) According to a paper parent’s critical role in their children’s career choices was the focus of this paper. It began in its formative year by assessing the client’s personality to determine proper occupational fit, vocational interest and aspirations on constantly changing life roles. Parental influence on adolescent’s career choice and research based on economic status, gender and race was included. It concluded with how career counselors and parents can be influential upon students to provide effective career development. 4. Reasons influencing selection decision making of parental choice of school Alsauidi. F (2016) Based on a research it was concluded that many opted for private schools because of a wide exposure. The Teaching, learning outcomes and the use of technology in education and other factors has made private schooling better than public schooling in parent’s perspective. An education system provision in KSA will help in improvising the system to encounter the challenges of the 21st century global economy. 5. Educational attainment effects of public and private school choice Lessa m. foreman (2017) Most research has focused on achievement effects. We believe that students are learning skills, work habits, or values that do not translate into test scores but that might be more important for long-term success. As far as now the evidence are of positive effects. There are much more researchers on the effects of school choice on educational attainment. Data Analysis & Interpretation Chart 1: Gender of the Child

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Table 1: Descriptive Statistics Descriptive Statistics Ease of Travel Having Brothers and Sisters at

N 50

Mean 2.58

Std. Deviation .499

50

2.52

.707

50 50 50

2.50 2.26 2.22

.678 .694 .737

50

1.84

.710

50

1.60

.808

50

1.58

.810

The School High Quality Teaching Low Level of Fees Wide Range of Sports Available Most of The Pupils Are Middle Class Single Sex Schooling Family

50 1.54 .734 Tradition of Using A 50 1.42 .702 Interpretation Particular School Above table portrays the descriptive statistics results (i.e. Mean and Standard deviation) of 10 Dissatisfaction of State independent variables. From theSchools descriptive table, the factors having highest mean indicate the higher importance given to them. The Respondents have given most important to ease of travel followed by having brothers and Religious Affiliation of the sisters at the school. Least importance is given to religious affiliation of the school followed by dissatisfaction of School state schools. According to the statistical result obtained from the above table, ease of travel is an important factor that have major influence on the selection of public or private school, followed by this another factor that having brothers and sisters at the school also plays a role in selection of public or private schools Table 2: Anova Religious Affiliation of the School Sum of Squares

Df

Mean Square

Between Groups

12.031

2

6.015

Within Groups

12.149

47

.258

Total

24.180

49

112

F

Sig.

23.271

.000

Contemporary Issues in Business Banking and Finance

Interpretation From the above table it can be inferred that there is significant difference between mean of the variables. Hence Family tradition and religious affiliation are independent.

H0 – There is no significant association between the variables H1 – There is significant association between the variables. Chi-Square Tests Value

Df

Asymp. Sig. (2-sided)

Pearson Chi-Square

4.973a

2

.083

Likelihood Ratio

4.891

2

.087

Linear-by-Linear Association

.026

1

.873

N of Valid Cases

50

The above table shows the value of chi-square & its significance level. As the significant level is more than 0.05, it can be inferred that there is a no association between two variables. Hence the practice of following particular school as family tradition does not depend upon public or private school. III. FINDINGS 1. The Majority (62%) are of male child. 2. The highest mean indicates the higher importance given to the ease of travel to joining the school and least importance given to religious affiliation of the school. 3. The joining of a child at school that is no relationship between admission of a child and religious affiliation of the school of the significant level more than 0.05. 4. the practice of following particular school as family tradition does not depend upon public or private school. 5. Family tradition and religious affiliation are independent.

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Contemporary Issues in Business Banking and Finance IV. SUGGESTIONS • Now a days illiterate parents are joining their child in public schools because of poverty even they know that the education system in public school are not in a standard level. • To overcome this problem government has to take measures to improve their educational system. • Even though the private school are providing a good educational system, parents are willing to send their child to tuition centres for better scores. • Statistics have proven that private schools are collecting more fees than public school because of this situation low class people are unable to send their child to private schools. • A reduction in textbook fees, notebook fees, uniform fees etc. may change the mind of parents to put their child in private schools. • Private schools should not see religion and caste of the child for their admission.Conclusion: According to this research now parent generation plays a major role in carrier guidance to their child. Because they are highly educated and have knowledge about schools, institutions and their fee structure. They search lot of schools for their children. So that they put their child in right school. Now a day’s infrastructure, economic status, environmental conditions and hospitality of the schools attracts the parents to admit their child in that schools. With the help of this research it is found that now a day’s parents are willing to join their children in private schools even though they are in poverty. A very rare set of parents join their children in the same school in which they studied. This research concludes that most of the parents are preferring private schools over public schools. V. REFERENCES 1. Rebecca Allen ( January 2014) School performance and parental choice of school 2. Faisal alsauidi (2016) Reason influencing selection decision making of parental choice of school 3. Dr. Adrian beavis Why parents choose public or private schools 4. https://ccps.qld.edu.au/blog/post/key-factors-influencing-parents-choice-of-school-for- their-children 5. https://en.wikipedia.org/wiki/School_choice 6. http://shodhganga.inflibnet.ac.in/handle/10603/136646

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A STUDY ON CUSTOMER RELATIONSHIP MANAGEMENT IN VODAFONE NETWORK WITH REFERENCE TO CHENNAI CITY K. GURUMURTHY Final Year, Department of Accounting and finance Ramakrishna Mission Vivekananda College, Evening, (Autonomous) ABSTRACT The current study aimed at examining the influence of service quality (network service quality). Through employing the questionnaire on a convenient sample of (51) consumer from Chennai city, the results indicated that network service quality has a positive influence on customer relationship management which in its turn can influence the level of customer loyalty. The study also reached to the results that good and well-built service quality may lead to customer relationship management which in its turn can lead to a better level of customer loyalty. Consumer loyalty includes highlights or attributes that can fulfil the desires or needs of a consumer, it is a post utilization encounter which contrasts apparent quality and expected quality, in this way a similar conduct between inputs previously and after utilization. The study recommended to enhance the level of service quality management is the best approach to customer relationship management. Employees tend to pay more attention to the idea of service quality which can lead to a better customer loyalty. Key Words: Customer Loyalty, Customer Satisfaction, Service Quality, Internet. I. INTRODUCTION Customer relationship management includes various strategies and techniques to maintain the healthy relationship with the organization’s existing as well as potential customers. Organizations must ensure customers are satisfied with their products and services for higher customer retention. Remember one satisfied customer brings ten new customers with him, where as one dissatisfied customer takes away ten customers along with him. In simpler words, customer relationship management refers to the needs and expectations of the customers and providing them the right solution. CRM extends the concept of selling from a discrete act performed bay salesperson to a continue all process in evolving every person in the company .It is the arts and science of gathering and using information about your customers to build customer loyalty and increase customer value. With the current state of information technology, and high customer service expectations, it’s practically impossible to consider these process issues without addressing technology, but it’s important to remember that customer relationships-human relationship-are the ultimate driving force. Review of Literature 1.

2.

3.

4.

Marta Valsecchi, et.al. (2007) in their study the estimated the size of the Italian market for mobile customer relationship management (mCRM) services and to try to evaluate some benefits that can be obtained through the use of mCRM applications by companies. The conclusion was CRM services were used by 405 companies in Italy. The main benefits found were the improvement of customer satisfaction, an increase in the efficiency of internal processes and an increase in revenue. Başar Öztayşi et.al. (2011) in their study is to define the CRM processes within a company and propose a tool for CRM measurement. The paper provides a general understanding of customer relationship management processes in customer oriented perspective and proposes a measurement tool that addresses seven main processes in CRM which are: Targeting management, customer information management, production or service customization and expansion management and referrals management and termination management. Hannu Saarijärv, et.al. (2013) in their study customer relationship management developed a separate identity as a result of companies utilizing customer data in managing customer relationships. The perspective on customer data usage needs to better address the strategic goal of serving customers. Consequently, the purpose of the paper is to reconfigure the role of customer data within the CRM framework. As a result, four CRM waves are identified that characterize the evolving role of customer data in CRM and help identify new directions for customer data usage. The customer data focus is shifted from the internal use to the external use: customer data are increasingly understood to be a resource for the customer's – not just the firm's – value creation. Shu-Mei Tseng, et.al. (2014) in their study enterprises realize that customers are their most important asset and recognize that a high level of customer satisfaction can only be achieved by enhancing service quality. In customer relationship management (CRM), how enterprises acquire customer knowledge by which to initiate and maintain customer relationships. The research of the project indicated that customer knowledge has a positive influence on service quality and CRM is the partial intervening variable between customer knowledge and service quality. That is, customer

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 knowledge enhances the CRM, while CRM, in turn, increases service quality and provides competitive advantages. 5. Jun Tang, et.al. (2013) in their study is to proposes to use the system integration between customer relationship management and anti‐money laundering (AML) suspicious data reporting in commercial banks to increase the initiative of suspicious transaction identification, reduce the false reporting rates, and improve the intelligence quality. This paper finds that the functions of customer behavior analysis and customer background investigation of CRM system can be redesigned and used for increasing the quality of AML suspicious transaction reporting in commercial banks. II. OBJECTIVE  To articulate the issue in the conceiving and developing customer relationship management  programs.  To know the reality of customer relationship in Vodafone Network Services.  To suggest, if any, changes of improvements in Vodafone network service required. Scope of the study  A study on consumer relationship management in Vodafone Network Service.  Performance covers all Vodafone customers in Chennai.  The study depicts the present scenario of Vodafone network service in Chennai. Research Methodology Research commonly refers to a search for knowledge. The research means a careful investigation or inquiry especially through search for new facts in any branch of knowledge. Sample frame In this study, convenient sampling method is used for collecting primary data, in the survey.51people were selected a the sample. The study was confined tome in area of Chennai. Collection of data The study was based on primary data and secondary data. Primary data were collected through advocating a questionnaire to different category of people in Chennai. The secondary data were collected from journals, magazines, books and websites. Survey methods Survey methods are one of the most common tools used to collect primary data from a representativesampleofindividuals.Thetermsurveyreferstothewholeprocessofconducting the data collection and involves the gathering of information from individuals using a questionnaire printer view schedule. The survey question naira method was chosen and asset of questions was given to a selected respondents. Tools used Chi Square: Statistical test Pearson chi-square test is used for testing the independence between two categorical variables. Chi-square is a quantitative measure used to determine whether a there is significant relationship exists between two categorical variables. ANOVA:It is away to find out If survey or experiment results are significant. In other words, they help you to figure out if you need to reject the null hypothesis or accept the alternate hypothesis. Basically, you’re testing groups to see if there’s a difference between the two variables Percentage analysis: It is the method used to represent raw streams of data as a percentage (a part in 100 percent) for better understanding of collected data. This Analysis is applied to create a contingency table from the frequency distribution available a represent the collected data for better understanding. Frequency-analysis: Frequency distribution is are presentation, dithering graphical or tabular format, that displays the number of observations within a given interval. Results and Discussion Table 4.1 Demographics of the Respondents Sl. No. Demographics Category Frequency Percentage Male 28 54.9 1. Gender Female 23 45.1 Total 51 100.0 Up to 25 years 42 82.4 2.

Age

3.

Education

26-35 years 36-45 years above 45 years Total Higher studies

116

5 2 2 51 35

9.8 3.9 3.9 100.0 68.6

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

4.

5.

Monthly Income

Occupation

Under Graduate Post Graduate

11 4

21.6 7.8

Professional degree Total Up to Rs. 10,000 Rs. 10,001-20,000 Rs. 20,001-50,000 Above Rs. 50,000

1 51 36 10 4 1

2.0 1000.0 70.6 19.6 7.8 2.0

Total Student Employee Home maker Business man Others

51 33 13 3 1 1

100.0 64.7 25.5 5.9 2.0 2.0

Total 51 100.0 Above table shows the value frequency and its percentage. It Is clear from the table that the majority of the respondents is male 54.9% and the age group majority up to 25 years is 82.4%and only beware it her above 26 years .Most of the respondents surveyed were students and graduate. Their income classification reveals that most them earn between up to 10,000 to 20,000 is90.2%. Chi-Square Tests

Pearson ChiSquare Likelihood Ratio Linear-by-Linear Association N of Valid Cases

Value

df

Asymp.Sig. (2-sided)

26.233a

12

.010

16.345

12

.176

7.236 51

1

.007

Hypothesis H0:There is no significant association between age group and the frequency of usage of Vodafone internet network(web browsing). H1: There is significant relationship between age group and the frequency of usage of Vodafone internet network(web browsing) Interpretation Above table shows the value of chi-square and its significant level. It is clear from the table that the significant value is less than 0.05. hence, it is inferred that there is an association between two variables. Table 4.3 ANOVA Wrong Activation of Plan Harassment Over Billing By Vodafone Sum of df Mean F Sig. Squares Square Between Groups 6.810 1 6.810 5. . 87 0 Within Groups 56.837 49 1.160 1 1 9 Total 63.647 50 Hypothesis H0: There is no significant difference between Type of subscriber and Over billing/wrong activation. H1: There is significant difference between Type of subscriber and Over billing/wrong activation. Interpretation Table shows the value of F and heads significant value. It is clear from the table that significant value is less than 0.05. hence, it is inferred that there is a difference between two variables. III. FINDINGS  The analysis reveals that the respondents included 54.9% male and 45.1% female and the total numbers of respondents were 51.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 

According to the study, majority of the respondents fall under the age group of Up to 25 years (82.4%) followed by 26-35 years (59.8%), 36-45 years(3.9%), above 45 years (3.9%).  The analysis reveals that majority of the respondents are higher studies (68.9)followed by under graduate(21.6%), post graduate(7.8%), professional degree(2.0%).  The analysis reveals that the majority of the respondents earn about (70.6%) up to 10,000 followed by 10,001-20,000 (19.6%), 20,001-50,000 (7.8%), above 50,000 (2.0%).  The analysis reveals that the majority of the respondents are student (64.7%)followed by employee (25.5%), home maker (5.9%), business man (2.0%), others (2.0%).  The analysis reveals that the majority of the respondents are using prepaid (68.6%) followed by postpaid (31.4%).  The analysis reveals that the majority of the respondents know about this network through friends and family (41.2%) followed by advertisement (35.3%), others (13.7%), websites (5.9%), newspaper (3.9%).  The analysis reveals that the majority of the respondents expenditure of monthly mobile network bill 100-500 (62.7%) followed by 500-1000 (25.5%), less than 100 (9.8%), above 1000 (2.0%). Limitations The study is limited only to Vodafone company in Chennai.  The study is confined to 50 individuals, thus findings may have limited applications.  A comparative study with other areas could not be conducted due to time constraint.  The data collected from customers are qualitative in nature i.e., views, perception, satisfaction, opinion etc., may change from time to time.  Some respondents were neither motivated nor interested in expressing their perception about customer relationship management in Vodafone network service. IV. CONCLUSION Customer Relationship Management is a strategy for companies to build and manage long-term relationships with their customers. The study was conducted for understanding efficiency of Vodafone customer relationship management in Chennai city. Customer agrees Vodafone’s internet service is good offering highspeed internet and the respondents also agrees the Vodafone networks service provides the same quality in all area. Price/tariffs offers are consider to be very attractive with Vodafone network. Vodafone company accept the customers feedback and suggestions and ensure quick and effective customer service. Vodafone operator meets customer expectations successfully and welcome customer feedback 24/7 and customers can easily give their feedback using My Vodafone app. Research shows that customer relationship management implementation can provide better customer service, as well as improvement and management of customer expectations and loyalty. Customer relationship management also complements a firm’s capability to present products, quality and services to its customers. V. REFERENCES 1. Marta Valsecchi, Filippo Maria Renga, Andrea Rangone, (2007) "Mobile customer relationship management: an exploratory analysis of Italian applications", Business Process Management Journal, Vol. 13 Issue: 6,pp.755-770. 2. BaşarÖztayşi, SelimeSezgin, Ahmet FahriÖzok, (2011) "A measurement tool for customer relationship management processes", Industrial Management &Data Systems, Vol. 111 Issue: 6,pp.943-960.6. 3. HannuSaarijärvi, HeikkiKarjaluoto, HannuKuusela, (2013) "Customer relationship management: the evolving role of customer data", Marketing Intelligence&Planning,Vol.31Issue:6,pp.584-600.9 . 4. Shu-Mei Tseng, Pin-Hong Wu, (2014) "The impact of customer knowledge and customer relationship management on service quality", International Journal of QualityandServiceSciences,Vol.6Issue:1,pp.77-96.10. 5. Jun Tang, LishanAi, (2013) "The system integration of anti‐money laundering data reporting and customer relationship management in commercial banks", Journal of Money Laundering Control, Vol. 16 Issue: 3,pp.231-237. 18.

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A STUDY ON SERVICE QUALITY IN AUTOMOBILE INDUSTRY WITHREFERENCE TO MOTOR CARS C. R. SACHIN Final year, Department of Accounting and Finance, Ramakrishna mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai-600 004 ABSTRACT Automobile Industry in India has emerged as one of the key drivers of Indian economy as it plays a key role in developing transportation sector and helping economy to grow faster by generating significant number of employment opportunities. Today's Automobile customers are well informed and have wide range of choice while buying a vehicle. With little differentiation among automobile products in the same price band and availability of wide range of models and variants often encourage customers to switch from one automobile brand to another one very easily Keywords: service quality, automobile industry, motor car. I. INTRODUCTION Service quality is a multi-dimensional research instrument designed to capture consumer expectations and perceptions of a service along the five dimensions that are believed to represent service quality. Service quality means that it is understood as the extent to which consumers pre-consumptions expectations of quality are disconfirmed by their actual perceptions of the service experience. Some important on concepts are: modern quality concepts result in better profitability, which is the main goal of all the business. Automobile Industry in India has emerged as one of the key drivers of Indian economy as it plays a key role in developing transportation sector and helping economy to grow faster by generating significant number of employment opportunities. Today's Automobile customers are well informed and have wide range of choice while buying a vehicle. Review of literature Grรถnroos (1984) was one of the pioneers who made an attempt to define service quality and he conceptualized service quality as a perceived judgment resulting from an evaluation process where customers compare their expectation, they have towards service with the service they perceive to have received. He also argued that the service quality depends on expected service and perceived service. Any other prior experience with the service could also influence the customers' expectations towards service; whereas the customers' perception will be delivered into perceived service. He further opined that there are two categories of Service Quality; Technical Quality & Functional Quality. Technical Quality refers to whatever the customer is actually receiving from the service (outcome of the service) whereas the functional quality considers the way in which the service is offered to the customer (service delivery process). Lehtinen&Lehtinen (1982) made an attempt to conceptualize Service Quality with the help of three dimensions viz. physical quality, interactive quality and corporate (image) quality. Unlike physical products services are intangible in nature; physical quality communicates the tangible aspects of the service. Interactive quality deals with the interaction between consumers and service provider. Corporate quality refers to the image and reputation of the firm offering service. A positive and distinguished corporate image is considered as an asset to the firm as it influences consumers' perception towards firm offering the service. Juran&Gryna (1988) argued that the quality consists of two principal elements i.e. 'to what degree a product or service meets the needs of the consumers' and 'to what degree a product or service is free from deficiencies. This definition considers service quality as consumers' perspective towards service efficiency and its ability to fulfill consumers' requirements. It was argued that the consumers don't appraise service quality only on the basis of service outcome; they also consider the service delivery process along with the context in which the service is being delivered. Parasuraman, Zeithaml & Berry (1985; 1988) conceptualized service quality in their gap model and defined service quality as the "difference between consumers' perceptions towards services offered by a particular firm and their expectations from the firm offering such services". They have argued service quality as the assessment of service delivery against expected service performance. The service said to be excellent if service performance exceeds customers' expectations; the service will be considered satisfactory if service performance just meet customers' expectations; and the service will be considered poor if the service performance fails to meet customers' expectations. Andaleeb&Basu (1994) made an attempt to understand how the technical complexity of the service sought and customers' knowledge about automobile service and repair moderates their evaluations of service quality. This study effectively illustrated how perceived fairness, empathy, responsiveness, reliability and convenience affect customers' overall evaluation of automobile service and repair (ASR). This study found that all the above-mentioned factors have a positive impact on service quality evaluation and the impact of

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3 perceived fairness is moderated by the customer's self-assessment of the knowledge of ASR and the technical complexity of the service concerned. The study also found that when the customer is not knowledgeable, the importance offairness increases significantly with technical complexity. Statement of the problem Managers in the service sector are facing hyper tension to prove that their services are customer-focused and that they continuously perform in order to show improvement in their delivery in order to show improvement in their delivery.In order to manage the financial and resource constraints under which service organisations operates it is essential that expectations of customers are properly understood and measured so that any gaps in service quality are identified. This information then assists a manager to find cost effective ways of closing gaps and of prioritizing which gaps of focus on – a critical decision given scarce resources. II. OBJECTIVE 1. To determine how satisfied consumers of automobiles are with its service quality. 2. To give suggestion towards the improvement of service quality of automobile sector with reference to cars. 3. To measure the satisfaction level of different aspects of service. Research methodology Primary Data has been collected through questionnaire.The questionnaire has been distributed to selected 53 respondents. The present study is confined to the consumers residing in Chennai city. 53 consumerâ€&#x;s responses have been collected by convenience sampling.The data collected has been analysed by using SPSS software wherein ANOVAand mean test has been used. Results and discussion: Demographics Table 4.1 Demographics of the Respondents Sl. No. Demographics Category Frequency Percentage Male 69 69.0 1. Gender Female 31 31.0

2.

3.

Age

Qualification

4.

Monthly Income

5.

Occupation

Total 18to 25 years 26-35 years 36-45 years above 45 years Total

100 86 9 4 1 100

100.0 86.0 9.0 4.0 1.0 100.0

Up to HSC UG/PG Professional Technical Total Up to Rs. 15,000

0 37 11 5 53 11

0.0 70.0 21.0 9.0 100.0 21.0

Rs. 15,001-30,000 Rs. 30,001-45,000 Above Rs. 45,000 Total Student Employed

17 14 11 53 77 22

32.0 26.0 21.0 100.0 77.0 22.0

House wife Nil Nil Business man 1 1.0 Total 100 100.0 Source: Developed for the study The above table 4.1 shows that 69% are male respondents and 31% are female only and 86% are around 18-25 years group and only few is above 46, and most of them monthly income is up to Rs. 15001-30000 only, but the income reveals that they can earn more than that because 22% are employed. Over 70% of the respondents have the qualification up to UG/PG.

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3

Mean scores of Reliability Table 4.2 Item Code 1 2 3 4

Item Timely delivered Trust worthiness Keeping promises Use of original parts

Mean 3.43 3.62 3.58 3.66

Standard Deviation 1.169 .965 1.027 1.285

Source: Developed for the study The mean and standard deviation scores in Table 4.2. All the mean values are above 3.00. „The use of original parts‟ has the highest mean of 3.66 Hypothesis Testing The following hypothesis was tested. H0: There is no significant difference between Age and satisfaction. H1: There is significant difference between Age and satisfaction. Table 4.3 ANOVA Sum of Squares Df Mean Square F Sig. Between Groups 5.081 14 .363 2.158 .030 Within Groups 6.390 38 .168 Total 11.472 52 Source: Developed for the study The ANOVA results indicate that the Null Hypothesis should be accepted. The results show that there was no statistically significant difference at the p<0.05 level. Hence it can be concluded that Satisfaction does not significantly differ according to age. III. FINDINGS  There are more number of male respondents.  Majority of the respondents are students.  In connection with after service of the car, respondents are satisfied with brake, wheel, battery and ac coolant.  The majority of the people service their car once in 6 months.  The majority of the people service their car only on showrooms.  There is no significant difference between age and customer satisfaction Limitations of the study The limitation of the study is as follows:  As the research is based on samples it may not reveal the factual information of the study.  Since the study is measuring service quality of automobiles there might be some biased responses which cannot be eliminated completely.  Due to shortage of time the study is only restricted to Chennai city.  A Sample size of only 50 was taken which might not reveal the correct information of the study. IV. CONCLUSION Customer satisfaction is a result of after sales service provided by the automobile service industries. The methodology adopted is simple and very easy to understand and implement. This will build the reputation of the customers; therefore, the automobile industry will earn more profits. Automobile industry will increase necessary steps to increase automobile production. V. REFERENCE 1. Oliver, Richard L. and G. Linda (1981), "Effects of Satisfaction and Its Antecedents on Consumer Preference and Intention," in Advances in Consumer Research, Kent B. Monroe, ed. Ann Arbor, MI: Association for Consumer Research, 88-93. 2. William B Doods (1991), Effects of price, brand and store information on buyer‟s product evaluation‖, Journal of Marketing Research, pp. 301-319 3. Parasuraman, A.; Berry, Leonard L.; Zeithaml, Valarie A (1991), Understanding customer expectations of service‖, Management Review; Spring 1991; 32, 3; ABI/INFORM Global, p. 39. 4. S. Priyadarshini, A. Kousalya (2017), “Web Service A Survey on Qos Based Selection Using Ranking Methodologies”, International Journal of Innovations in Scientific and Engineering Research (IJISER), Vol.4, No.1, pp.1-3.

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BRAND MANAGEMENT OF AMUL M. KISHORE Final Year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), ABSTRACT Brand management is an important activity for any organization, because it is brand which makes an organization unique when compared with other organizations. For example, Amul sells the different types of dairy products and there are other companies which sell the same type of dairy products, but what makes the Amul different is its brand, which it have achieved since long time by providing good quality products to customers. Other operations of an organization like marketing, advertising, human resource management etc. can be impacted by the brand value. This report analyses the brand management process and brand value assessment of Amul(Anand Milk Union limited), a leading company in India which produces milk- related products. Key words: brand management, consumer perspective, Amul I. INTRODUCTION “You have to stay true to your heritage; that's what your brand is about� says Alice Temperley. The 73 years of heritage that the Amul brand has in the heart of Indian customers have made it to shine as the number one brand in India. Amul has stayed true to its taste and brand that it showcases to its customers. The brand that you create should have the authenticity in it, it should be unique in all the perspective. One should give his or her heart and soul in bringing out a new brand. A good brand should rely up on a great historic heritage. India's most trusted and popular dairy products' brand has become a brand that is famous throughout India due to its development in the brand management. Review of Literature 1. Vallaster, C. (2004) says that in order to ensure consistency in brand management activities, employees need to develop a shared understanding of what their brand stands for. This process receives even greater complexity in a multicultural workforce. Despite an increase of interest in internal branding, literature widely lacks an understanding of how employees from different cultural backgrounds develop a shared brand understanding and how leaders can facilitate this process. This paper introduces a road map to action research: First, a justification as to why action research is conside red an appropriate model to capture internal brand building processes is provided. Subsequently, the main steps that led to the development of the presented methodological framework are outlined by referring to results of pre�tests or to already published material where appropriate 2. Balmer, J. M. T. and Greyser, S. A. (2006) says that the aims of the paper are to examine the nascent area of corporate marketing. The paper draws on some of the key literature relating to the history of marketing thought. The study reiterates the case that corporate identity, corporate branding, corporate communications, and corporate reputation should be integrated under the umbrella title of corporate marketing. The paper introduces the 6Cs of corporate marketing. 3. Sharp, B. (1995)says that the concept of brand equity has received most attention in the context of fastmoving-consumer-goods marketing yet the concept is just as, if not more, important to professional services marketers. This paper explains the distinct nature of market-based assets, such as brand equity, in professional service industries. 4. Balmer, J. M. T. (1998) says that this paper places corporate identity studies in a historical context with the writer arguing that there have been four distinct phases in the area's evolution. Currently, there is increasing international and interdisciplinary contact between scholars engaged in identity research. Recent developments have led the writer to postulate that the literature on corporate identity, organisational identity and corporate communication may be regarded as forming the basic building blocks of a new, cognate area of management which in time may be known as Corporate Marketing. 5. Rowley, J. (2002) draws heavily on previous established research in an attempt to distil the key aspects of case study research in such a way as to encourage new researchers to grapple with and apply these. Explains when case study can be used, research design, data collection a nd data analysis, offering suggestions for drawing on the evidence in writing a report or dissertation. Briefly reviews alternative perspectives on the subject.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Significance of the Study  This research will be useful for identifying the customer’s perspective on the brand management of Amul Company.  This research is significant in showcasing the different age groups interested in the brand management of Amul.  For others the study can be a source of valuable up to date information which can be very valuable for their own similar studies on the subject matter as well. II. OBJECTIVES • Analyse and investigate how the brand value can be impacted by the both internal and external operations of an organization. • Investigate the brand value and equity of Amul in Indian market. • Investigate the approaches followed in managing their brand by Amul. • Analyse and evaluate how Amul has managing its brand by linking to other organizational processes. • Conduct a survey to assess the consumers’ perception of Amul’s brand and its value. • From the data collected and analysed, suggest recommendations to the Amul’s management in managing their brand more efficiently. Scope of the Study This research focuses on the consumer perspective of the Amul’s brand management. The study was conducted by sending the questionnaire directly to the prospective customers who have proper idea about the brand Amul. The study includes all the subsidiary brands that are dealt and managed by the Amul Company. The study employs the different age and income group of people’s perspective on the brand management of the Amul Company as a whole. Research Methodology Research methodology is the logic or series of steps that connects a given set of research questions to the conclusions arrived at. It encompasses the selection of research methods, the design of data gathering instruments like interview or self-administered questionnaire schedules, gaining access to the research site, sampling, research ethics and data analysis. This research was conducted to understand the brand management followed by Amul Company. The study was conducted with a sample size of 100, the convenience sampling method was used and with the primary data that was collected by distributing the questionnaires to the prospective customers. Results and Discussion Demographics of the respondents In this part of the study, the profiles of the demographics of the respondents are studied. In total five demographic questions were studied. They are age, gender, education, occupation and annual income. The results are presented in Table 4.1 Table 4.1 Demographics of the Respondents SI.No Demographics Category Frequency Percentage

1

2

3

Age

Gender

Education

below 20

20

20

20 -25

51

51

25 – 30

7

7

30 – 35

4

4

35 – 40

4

4

above 40

14

14

Total

100

100

Male

75

75

Female

25

25

Total Higher secondary certificate Undergraduate

100

100

26

26

43

43

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

4

Occupation

Postgraduate

17

17

Professional

8

8

Illiterate

6

6

Total Business / entrepreneur Student

100

100

24

24

34

34

Home maker Government employee Private employee Total

8

8

14

14

20

20

100

100

below 1 lakh

61

61

1 - 5 lakhs

21

21

Annual Income

5 - 10 lakhs 12 12 10 lakhs and 6 6 above Total 100 100 From the above information we can understand that around 75% of them were male respondents and 51% of them were between the age group of 20 to 25 and very few were among 30 to 35 and 35 to 40. Most of the respondents were undergraduates and only few illiterates. Their income classification reveals that they earn below 1lakh annually. Brand Orientation and Gender The brand orientation is an approach in which the process of an organisation revolves around the creation, development and protection of the brand identity in an interaction with target customers. Hence it is appropriate to compare both brand orientation and gender of the customer. The above discussion leads to test the following hypothesis. H1o: There is no significant difference in brand orientation of amul between male and female. H1a: there is significant difference in brand orientation of amul between male and female. Table 2 Descriptive statistics of Brand Orientation Std. Std. Gender N Mean Error Deviation Mean Male 74 3.473 0.91652 0.10654 Brand Orientation Female 25 3.43 1.10284 0.22057 Source: Developed for the study The above table indicates the mean score of brand orientation with respect to male is 3.473 and standard deviation is 0.91652. The mean score of brand orientation with respect to female is 3.43 and standard deviation is 1.10284. Table .3 Independent Sample t test 5

t test

Degree of freedom

Sig. (2-tailed)

Mean Difference

0.192 97 0.848 0.04297 Source: Developed for the study The results of the independent sample t test indicate that the null hypothesis should be accepted. The result suggests that brand orientation between male and female does not significantly differ.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Internal Branding and Age The internal branding of Amul company deals with the employees who represent the management of the company is compared with the age of the consumers who are purchasing the products of the company. The above discussion leads to test the following hypothesis. H2o: There is no significant difference between internal branding and age of the consumer. H2a: There is significant difference between internal branding and age of the consumer. Table 4. Descriptive statistics of Internal Branding N

Mean

Std. Deviation

below 20 20 3.19 0.82965 20 -25 50 3.124 0.81104 25 – 30 7 3.5429 0.55032 30 – 35 4 3.7 0.6 35 – 40 4 3.3 0.4761 above 40 15 3.1857 0.73365 Total 100 3.2061 0.76955 Source: Developed for the study The above table indicates the mean score of internal branding with respect to age category below 20 is 3.19 and standard deviation is 0.82965. The mean score of internal branding with respect to the category 20-25 is 3.124 and standard deviation is 0.81104. The mean score of the internal branding with respect to the age category 25-30 is 3.5429 and the standard deviation is 0.55032. The mean score of internal branding with respect to the age category 30-35 is 3.7 and the standard deviation 0.6. The mean score of the internal branding with respect to age category 3540 is 3.3 and the standard deviation is 0.4761. The mean score of the internal branding with respect to age category above 40 is 3.1857 and the standard deviation is 0.73365. Table 5 ANOVA Sum of Degree of Mean F Sig. Squares freedom Square Between 9.218 5 1.844 2.108 0.071 Groups Within 81.328 93 0.874 Groups Total 90.545 98 Source: Developed for the study The ANOVA results indicate that the Null Hypothesis should be accepted. The independent variable is of four groups: below 20 years (M=3.19, SD=0.82965. n=20), 20-25(M=3.124, SD=0.81104, n=50), 25-30 (M=3.5429, SD=0.55032, n=7), 30-35 (M=3.7, SD=0.6, n=4), 35-40 (M=3.3, SD=0.4761, n=4 ) and 40 years and above (M=3.1857, SD =0.73365, n=15). The results show that there was statistically significant difference at the p<0.05 level in internal branding scores F (5, 93) =2.108, p=0.071. Hence it can be concluded that internal branding does not differ significantly according to age. III. FINDINGS 1. From the study it can be understood that around 75% of the respondents were male, 51% of them were between the ages of 20-25 and very few were among 30-35 and 35-40, most of the respondents were undergraduates and only few illiterates, their income classification states that most of them earn below 1lakh annually. 2. Among the Amul products the milk is used the most and butter is the least used product among other products. 3. A particular product and the brand name flashes in the mind of most of the respondents when thinking about Amul. 4. Most of the respondents have agreed to the fact that building a strong brand is one of the objectives set by Amul’s management. 5. Most of the respondents say that the Amul’s employees sufficiently understand the brand objectives and the brand building activities.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 6.

The respondents think that the Amul plans its marketing actions taking into account the possible repercussions for the brand image Limitations 1. The data was collected from 100 respondents only. 2. Due to time constraint the data is collected according to convenience. 3. Cultural aspects were not considered which might give different view and better picture on consumer behavior. IV. CONCLUSION According to the study the brand Amul is famous among the respondents. Amul’s aim isto builda strong brand. The employee customer rapport is also very good. Amul’s marketing strategies give a very good brand image. Awareness regarding the products of Amul brand shall be improved more. The study revealed that Brand Management is good. V. REFERENCES 1. www.wikipedia.org 2. Amul (2010), “Gujarat Cooperative Milk Marketing Federation”, Available at: www.amul.com/organization.html 3. Ankita Maheshwari, H. Sanchay Grover, Madhusudhan Partani, Rajat Rathore and Shivi Aggarwal (2008), “Amul Brand Audit”, Available at: http://www.slideshare.net/madhusudanpartani/amulbrand-audit6255078

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BUYER BEHAVIOUR TOWARDS ORGANIC FOODS IN CHENNAI P.SANTHOSH Final Year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), ABSTRACT Increasing demand for organic food and rising health consciousness among the people leads the consumers to buy more organic foods. Development of the efficient marketing system is the need for strengthening the organic production in India. This paper made an attempt to understand the Buyer behaviour and consumer preference towards organic food in Chennai city. The results of the study reveals that organic food are more expensive and available only in urban areas.Organic foods are preferred as they are healthy, Internet is the major source of awareness for the respondents. Organic foods need more advertisements to create optimal awareness among general public. Key words: Buyer behaviour, organic food, Chennai I. INTRODUCTION According to Steve Ferrante CEO of „Grand PooBah‟“If you want to know how to sell more, then you better know why customers buy”. The only way to sell any product to customers, is to know the reason and purpose for which customers are buying such product. Hence it is necessary to study buying behaviour. Buyer behaviour is the sum total of a consumer‟s preferences, attitudes, intentions and decisions regarding the consumer‟s behaviour in the market place while purchasing a product or service. Buyer behaviour is a branch which deals with the various stages a consumer goes through before purchasing products or services. The behaviour of consumer is considered to be the study of why, when, where and how people prefer or prefer not to buy a particular product. It takes into consideration and mix together the basics of their economic status, their psychology, the society and the social anthropology. In short it tries to recognize the decision of the buyer either individually or collectively. Review of Literature Consumer Behaviour Schiffman & Kanuk (1997),says consumers can be distinguished into two types , namely personal and organisational consumers. Where Personal consumers purchase products and services for personal or household use or as a gift to someone else. On the other hand Organisational consumers purchase products and services to run an organisation, including profitable and non-profitable organisations, government organisations and institutions. Loudon and Della (1988), says Consumer behaviour reflects on decision of consumers with respect to the consumption, disposition and acquisition of services, products, experiences, activities, ideas and people by units of decision making. Consumer behavior entails all activities of consumers linked with the use, buying and disposal of services and products including the mental, behavioral and emotional responses of consumers that determine, follow or precede these activities. According to Brian Mullen (2001) from the book, “The Psychology of Consumer Behaviors”. Consumer behaviour is the decision maker or behavior of the consumer in the market place of the services and goods. From the application of psychology, sociology, and demographics, the marketers can begin to understand why the consumers form attitudes and make decisions to purchase the product. Consumer behaviour is based on the consumer playing three different roles of buyer, payer and user. Consumer behavior can be defined as “the study of individuals, groups or organizations and the processes they use to select, secure, use and dispose of products, services, experiences or ideas to satisfy needs and the impacts that these processes have on the consumer and society.” (Hawkins, Best, and Coney, 2001.) Organic Food Richa Misra and Deepak Singh, (2016), states that the intention to purchase organic food products was impacted by the consumer’s belief on the safety and health aspect of the product , trust and certification, information and availability and lifestyle and are hence drivers of growth. And certain impeding factors were identified like doubt in the professed quality of organic food, lack of awareness and price parity. Lockie (2002) on the contrary found that age and income have very little influence over the level of organic consumption. Higher income households are also more likely to form positive attitudes and to purchase more organic food.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Govidnasamy and Italia, 1990 says in demographic portrayal of consumers, income is another factor considered important for influencing purchase of organic food. Higher income households purchase organic produce more frequently. Chryssohoidis, 2005states the progress in consumers„ attitudes with respect to organic products, values play a significant and mixed role in the perception of organic products. Dreezens 2005 identified that people welfare and protection of nature were positively correlated with organic food. Research Gap Based on the literatures reviewed, it is cleared that there are many factors influence Buyer behaviour like customs, beliefs, experiences etc. Health consciousness is the vital factor for consuming organic food.Lockie (2002) has found the age and income have very low influence over organic food consumption. At the same time (Govidnasamy and Italia, 1990) has portrays higher income households are frequently purchasing organic foods. Dreezens (2005) identified the both, people welfare and protection of our environment were positively correlated with organic foods. Considering all these gaps this study was intended to study buyer behaviour towards organic foods in Chennai. Significance of the Problem It is found that most of the studies are focused on the impact of demographic and social factors on the consumption behaviour and only few studies answers the question that why they are not willing to pay more even though they have knowledge regarding the benefits of organic food. Hence, “A study on Buyer behaviour and consumer preference towards Organic Food in Chennai city” is undertaken to gain knowledge about organic consumers perceptions, attitudes and behaviour. The results of this study can be utilised by most of the organisation to fulfil customer needs. II. OBJECTIVES The objectives of the study are listed below: 1. To find out the attitudes towards organic food of the general public. 2. To find out the factor that would encourage consumers to buy more organic foods. 3. To know the drawbacks in organic foods that a consumer faces. 4. To find out the relationship between demographic characteristics and attitude, health consciousness, environmental concerns and organic knowledge. Scope of the Study This study on Consumer Behaviour towards Organic Food products in Chennai is undertaken to gain knowledge about organic consumers perceptions, attitudes, and behaviour towards the same. This study is focused on consumer behaviour and their willingness to pay towards organic food in general and not for a specific or for individual product. The study was limited to Chennai city only. This study helps to create awareness about customers opinions and their point of view on organic foods. Research Methodology Data Collection Method The study was based on the primary data. The primary data was collected by creating the questionnaire. The study was based from a sample of 100 members using the convenient sampling method. Data Summary Analysis On gathering the responses, the responses was checked for any errors, missing content, sample profiles and manually errors are removed. The subject of study was explained using Pie charts and Bar Graphs to present the findings of the same. 7.3 Statistical technique To analyse the collected data, the statistical analysis of Statistical Package for Social Science (SPSS) was applied. In order to conduct the study, the following tools have been used.  Frequency analysis  Mean  ANOVO  Correlation Results and Discussions Demographics of the Respondents In this part of the study, the demographics of the respondents are studied. In total, Five demographic questions were studied. They are gender, age, education qualification, occupation and annual income. The results are presented in Table 1.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table 1 Demographics of the Respondents Sl. No.

Demographics

Category Male Female Total Up to 25 years

Frequency 62 38 100 40

Percentage 62.0 38.0 100.0 40.0

26-35 years 36-40 years above 40 years Total Illiterate HSC

30 13 17 100 10 23

30.0 13.0 17.0 100.0 10.0 23.0

1.

Gender

2.

Age

3.

Education Qualification

Undergraduate/Post Graduate Technical (Diploma/ITI) Others Total Less than Rs.2,50,000 Rs.2,50,000 – Rs.5,00,000

47 11 9 100 40 31

47.0 11.0 9.0 100.0 40.0 31.0

4.

Annual Income

5.

Occupation

Rs.5,00,001 – Rs.10,00,000 Above Rs.10,00,000 Total Student Self-employed/business man Government Employee

18 11 100 31 19 3

18.0 11.0 100.0 31.0 19.0 3.0

Private Employee others Total

32 15 100

32.0 15.0 100.0

Source: Developed for the study From the above information it is cleared that around 62% were male respondents and 40% of the respondents were up to 25 years and only few were above 25 years. Most of the respondents were graduates. The income classification reveals that they earn Less than Rs.2,50,000 per month. And the most of the respondents were student. Hypothesis Testing Gender and Consumer Awareness The following relevant hypotheses were framed to test the relationship between Gender and Consumer Awareness. H1o: There is no significant difference in consumer awareness about organic foods between male and female H1a: There is significant difference in consumer awareness about organic foods between male and female To examine the significant difference between Gender and Consumer awareness, Independent Sample T- test is applied in the table 2 and table 3 shows the Descriptive statistics of Consumer Awareness. Table 2 Descriptive Statistics of Consumer Awareness Gender N Mean Std. Deviation Std. Error Mean Male 62 2.6989 .80912 .10276 Female 38 2.5702 .68404 .11097 Source: Developed for the study The above table indicates the mean score of Consumer Awareness. Male have a higher mean 2.6989 than that of Female with mean value 2.5702.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table 3 Independent Sample T Test T test statistic Degree of freedom Sig. (2-tailed) Mean Difference .818 98 .416 .12875 Source: Developed for the study The results of the independent sample t test indicate that the Null Hypothesis should be accepted. In the table, Male as a highest mean score of 2.6989, SD= 0.80912), t (98) = .818, p=.416. It is concluded that there is no significant difference in Gender and Consumer Awareness. Age and Consumer Awareness The following relevant hypotheses were framed to test the relationship between Age and Consumer Awareness. H2o: There is no significant difference in consumer awareness about organic foods in different categories of age group H2a: There is significant difference in consumer awareness about organic foods in different categories of age group. To examine the significant difference between age and Consumer awareness, Descriptive statistics is applied in the Table4 and ANOVO is applied in the Table 5. Table 4 Descriptive Statistics of Consumer Awareness Age Category

N

Mean

Std. Deviation

Below 25 years 40 2.5750 .60852 26 years to 35 years 30 2.6778 .92841 36 years to 40 years 13 2.7949 .89792 Above 40 years 17 2.6667 .70711 Total 100 2.6500 .76303 Source: Developed for the Study The above table indicates the mean score of Consumer Awareness with respect to age category. Age category between 36 years to 40 years have the highest mean of 2.7949. And age category Below 25 years has got the lowest mean score of 2.5750. Table 5 ANOVA Sum of Degree of Mean F Sig. Squares Freedom Square Between .526 3 .175 .295 .829 Groups Within 57.113 96 .595 Groups Total 57.639 99 Source: Developed for the Study The ANOVA results indicate that the Null Hypothesis should be accepted. The independent variable is of four groups Below 25 years: (M=2.5750, SD=.60852 n=40), 26 years to 35 years (M=2.6778, SD=.92841, n=30), 36 years to 40 years (M=2.7949, SD=.89792, n=13) and 40 years and above (M=2.667, SD = .70711, n=17). The results show that there was no statistical significant difference at the p<0.05 level in Consumer Awareness scores F (3, 96) =.295,p=.829. Hence it can be concluded that consumer awareness does not differ significantly according to age. III. FINDINGS AND SUGGESTIONS  Out the respondents surveyed 62% of them were Male.  Most of the respondents were up to 25 years of age.  47 % of the respondents were Graduates.  The annual income of the major respondents were less than Rs.2,50,000 and most of them were private employees.  Major respondents buy organic foods only once in the month.  44% of the respondents spends on organic food up to Rs.1000 monthly.  Most of the respondents prefer to buy organic vegetables than any other organic food products.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3  Respondents suggests that Markets are the better place to purchase organic food products.  Internet is the major source of awareness to respondents to know more organic foods.  There is no significant difference between age and consumer awareness Limitations of the Study 1. 1.The data was collected from 100 respondents only. 2. Due to time constraint the data is collected according to convenience. 3. 3.Cultural aspects were not considered which might give different view and better picture on consumer behaviour. IV. CONCLUSION It is concluded health is the important for the consumers to buy organic foods. Consumer organic food consumption is influenced majorly by the level of education and consumer awareness towards organic foods. Due to the changing market conditions consumer are not able to stable in consuming organic food products. Most of the respondents are aware of the benefits of organic food but no one aware of symbols/ certifications. Major responses are states the organic foods are more expensive. More advertisements in media may develop the consumption of organic food to the consumers. “Instead of seeing organic food as expense, view it as an investment in your health & A donation towards a safer & better world” V. REFERENCES 1. Chandrashekar HM. Consumers Perception towards Organic Products - A Study in Mysore City. International Journal of Research in Business Studies and Management 2014. 2. Govidnasamy, R. and Italia, J. (1990), “Predicting willingness to pay a premium for organically grown fresh produce”, Journal of Food Distribution Research, Vol. 30 No. 2, pp. 44-53. 3. Irianto H. Consumers‟ Attitude and Intention towards Organic Food Purchase: An Extension of Theory of Planned Behaviour in Gender Perspective. International Journal of Management, Economics and Social Sciences 2015; 4(1): 17-31. 4. Justin Paul/ Jyoti Rana “Consumer behaviour and purchase intention for organic food” Journal of Consumer Marketing · September 2012. 5. Lau Kwan Yi“Consumer behaviour towards Organic Food Consumption in Hong Kong”:An Empirical Study. April 2009. 6. Md Bilal Basha et al. Consumer Acceptance towards Organic Food. G.J.I.S.S. 2015. 7. Salleh MM. et al. Consumer‟s Perception and Purchase Intentions towards Organic Food Products: Exploring Attitude among Academician. Canadian Social Science 2010; 6(6): 119-129. 8. Varghese Manaloor et.al.,Growth Of Organic Food Industry In India December 2016.

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EMPLOYEES WORKPLACE STRESS IN TEXTILE SHOPS A STUDY WITH SPECIAL REFERENCE TO TEXTILE SHOPS IN T.NAGAR, CHENNAI CITY B. S. ACHUTHA *Final Year, Dept of AF, RKM Vivekananda (Evening) College (Autunomous), Mylapore, Chennai – 04, ABSTRACT Stress in the workplace has become one of the increasingly popular topics of discussion over the last couple of decades. It has become a major concern among various organizations creating an impact on the management and operations of the organization. Workers who are stressed are also more likely to be unhealthy, poorly motivated, less productive and less safe at work. The combination of high demands in a job and a low amount of control over the situation can lead to stress. This study throws light on Workplace stress and its factors causing stress in Textile shops with special reference to T.Nagar Chennai. The study was conducted in various Shops is and around the Textile shops in T.Nagar. The sample size for this study is 100 were collected by Convenient sampling and was analysed using Statistical tools and Statistical Software SPSS 16.0. Key words: Stress, Textile industry, Work place working condition, Work life balance. Textile Industry Tamil Nadu houses more than 40% of total installed capacity of Spinning industry in India Tirupur (Coimbatore District) the biggest Knitting Cluster (90% exports of Knitwear from India) in the Country is located in Tamil Nadu 35-40% contribution to total Yarn Production in India in last 5 years. There are 2614 Hand Processing Units (25% of total units in India) and 985 Power Processing units (40% of total units in India) in Tamil Nadu.Chennai is also a Predominant Cluster for Readymade Garments with exports worth USD 1.2 Billion1.Chennai is also a centre for Technical textile Industry with players present across categories like Agrotech, Buildtech, Clothtech, Indutech, Packtech. Stress Stress can be defined as “A state of mental tension and worry caused by problems in your life, work, etc. something that causes strong feelings of worry or anxiety physical force or pressure.” Day-to-day life is full of stress-both on the personal and the professional fronts. Types of stress  Acute stress  Episodic acute stress  Chronic stress Workplace Stress Job stress will be experienced, when the imbalance between demands of work environment and the individuals’ abilities increases, so at work, stress may be an awareness indicated by ambiguity, conflict and overload arising from the work environment and the characteristics of the individual. The concept of job stress is often confused with challenge, but these concepts are not the same. The challenge has turned into job demands that cannot be met, relaxation has turned to exhaustion, and a sense of satisfaction has turned into feelings of stress. In short, the stage is set for illness, injury, and job failure. Workplace stress/Job stress is the generally focused area of stress. This stress increases pressure and worsening the condition of the individual leading to harmful problems which may be of physical, mental, emotional, behavioural in nature and even create imbalance in lifestyle. I. Objectives of the Study The main objective of this study is to  To analyse the working condition of the workers  To measure occupational stress level of employees at the workplace. Review of Earlier Studies Suhail Mohammad Ghouse&MoazGharib, (2016), “A study on the impact of job stress on job performance: A case study on academic staff at Dhofar university”. The purpose if this study was to determine the levels of job stress among the academic staffs, to measure the job performance level, and determine the impact of the job stress factors. Sample size for the study is 102. By analysing the results they arrived to a conclusion that the level of job stress on academic staffs was medium and sometimes low. Priyesha Jain &AkhilBatra( 2015), “A study on Occupational Stress at Workplace: Study of the Corporate Sector”. The main focus of these researchers was to identify the level of frequency of the job stressors for corporate individuals surveyed and to find out the distressing factor that affects 1

The facts regarding contribution to the Indian market was derived from the website from IBEF.com & presentation in the GIM 2015.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 most of the Corporate individuals. This article also throws light on Human Resources (HR) department so as to reduce the stress. The sample size for the research was 62. They have concluded they arrived to a conclusion and the result was 87% of the respondents felt stressed due to work related issues, 79% felt flexible working hours relieves tension.M.Kotteeswari&TameemSharief (March 2014),“A study on Job stress and its impact on employees’ performance - A study with reference to employees working in BPOs”. The researcher had two main objective they are (i) factors causing stress; (ii)find out the factors influencing the performance of the employees. Researcher did this study with 100 samples and data was collected from various sources such as both primary and secondary data. They found that the job stress is affecting their performance and are able to concentrate on their work properly.Majority of the employees agree that they are experiencing stress in the work place irrespective of the gender.Both the employer and the employee are following some stress coping strategies to overcome the stress. Ashok Panigrahi (2016), “A study on Managing stress at workplace”, the researcher has made a review study on Managing stress at workplace. The researcher has done his research on secondary data that is collected by the previous researchers and has analysed the most pressing life style risk factor. Also the researcher has discussed about the top causes of the stress in workplace. Therefor the by analysing the secondary data’s of various counties the result was Asia pacific countries undergo a lot stress in workplace stress , Indian employees rank is unclear or conflicting job expectations (40%), inadequate staffing (lack of support, uneven workload or performance in group) (38%) and lack of work/life balance (38%) as the top three reasons. Scope of the Study Work place stress is a serious issue at present in textile shops as this is a festival and holiday season there is huge work to happen and the work time will also be more in the shops. Therefore the scope of this study seeks to find out which factor is influencing the workers to get into Stress at the work place Research Methodology Questionnaire method is used for collecting the data which is primary data. Sample size for the study was 100 respondents wereselected in textile shops in T.nagarChennai by adopting convenience sampling method. Collected data were analysed by using Frequency analysis, Chi square test, Anova, and Correlation test.SPSS Version 16.0 software is used to do the analysis. Limitations of the study  The area of study is confined only to the textile shops is T Nagar.  Results may vary or will not be true if applied to other locality of similar shops or similar environment.  The time factor for the researcher is limited. Table 1 Gender distribution, Working hours & Stress level of the respondents. Gender Frequency Percentage Male 55 55.0 Female

45

45.0

Total

100

100.0

Frequency

Percentage

8hrs

22

22.0

less than 8hrs

7

7.0

12hrs

51

51.0

more than 12hrs

20

20.0

Total

100

100.0

Frequency

Percentage

Mild

9

9.0

Moderate

36

36.0

Sever

43

43.0

Extreme

12

12.0

100

100.0

Hours working

Stress level

Total Source: Primary Data

Interpretation The Table 1 shows the gender distribution, working hours, stress level of the respondents. From the table it is identified that 55% of the respondents are Male and followed by 45% of the respondents are female followed by 51% of the respondents work for 12hrs Followed by 22% of the respondents for 8hrs a day, 20% of the respondents work for more than 12hrs, 7% of the respondents work for Less than 8hrs. 43% of the

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 respondents say that their stress level is Sever Followed by 36% of the respondents rate their stress level as moderate, 12% of the respondents rate as Extreme and 9% rate their stress level as Mild. Table 2 Stress Level Vs Commitment to Work Value df Asymp. Sig. (2-sided) Pearson Chi-Square

28.899a 12

.004

Likelihood Ratio

33.235 12

.001

Linear-by-Linear Association

14.162

.000

1

N of Valid Cases 100 Source: Primary Data Ho: There is no significant association between Stress Leveland Commitment to work. H1: There is significant association between Stress Level and Commitment to work. Interpretation The above table 2 shows the probability value as 0.001 (P< 0.05), there is an evidence to reject the Null hypothesis and accept the Alternative hypothesis. Therefore itconcludes that two variables “Stress level(Mild, Moderate, Sever, Extreme)and Commitment to Work” have significant association. Further from this test it infers that due to stress there is a decrease commitment towards the work which may affect the performance of the shops. Table 3 Stress Level Vs Work life balance Value Df Asymp. Sig. (2-sided) Pearson Chi-Square 33.667a 12 .001 Likelihood Ratio

41.308

12

.000

Linear-by-Linear Association

22.845

1

.000

N of Valid Cases 100 Source: Primary data Ho: There is no significant association between “Stress Level and Healthy Work life balance”. H1: There is significant association between “Stress Level and Healthy Work life balance”. Interpretation The above table shows the probability value as 0.001 (p < 0.05), there is an evidence to reject the Null hypothesis and accept the Alternative hypothesis. Therefore it is concluded that two variables Stress Level(Mild, Moderate, Sever, Extreme) and Healthy Work life balance have significant association. From the above table it is inferred due to stress there is an imbalance in thework life balance of the employees which affects their emotional quotient. Table 4 ANOVA on “Working Hours and Healthy issues due to stress (Body Pain)” Sum of Squares df Mean Square F Sig. Between Groups 14.182 3 4.727 5.790 Within Groups

78.378

96

Total

92.560

99

.816

.001

Source: Primary data Ho: There is no significant difference between Working hours of the employees and health issues they undergo during stress (Body pain) H1:There is difference between Working hours of the employees and health issues they undergo during stress (Body pain) Interpretation Since the probability value is 0.001 (P< 0.05),there is an evidence to reject the Null hypothesis and accept the Alternative hypothesis, therefore it is conclude that there is significant difference between the two variables Working hours of the employees and health issues they undergo during stress (Body pain).

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table 5 Correlation between “Volume of work and Physical work environment” Volume of work Physical work environment Volume of work

Pearson Correlation Sig. (2-tailed) N

.399** .000

1 100

Pearson Correlation Physical work environment Sig. (2-tailed) N

**

100

.399 .000

1

100

100

**. Correlation is significant at the 0.01 level (2-tailed). Source: Primary data Interpretation The correlation between Volume of work & Physical work environment” is 0.399 which is significant & positively correlated indicating that Volume of work with Physical work environment is associated with factors causing stress and has relationship between the two variables. Further it is inferred that Volume of work and Physical work environmenthave a relationship that leads to stress in the employees. II. FINDINGS  55% of the respondents are male  51% of the respondents work for 12hrs.  43% of the respondents have rated their stress level as Sever.  Thesquare analysis for Stress level & Commitment to Work has a significant association towards stress.  Chi square analysis for Stress Level and Healthy Work life balance p= has significant association towards stress.  Anova on Stress level and Work life balance there is significant difference between the two variables  Correlation between “Nature of job and Responsibilities and Commitment to work” is moderately significant and positively correlated indicating that Nature of the job and its responsibilities are associated with Decreased commitment to work” III. SUGGESTIONS Employees are the most valuable asset of an organisation, it’s the responsibility of the employer and the management to keep them in a good condition i e good and a healthy environment. So, the Management should motivate in an optimistic way to boost up their Self-esteem and engage in their work to increase employee productivity thereby enhancing the success of their industry.The organization can incorporate strategies to enhance team work and cooperation among the employees by monetary and non-monetary terms.The workplace should provide proper training and motivate the employees to develop their skills. New and innovative ways to overcome the stress of the employees should be implemented. The workers should be provided sufficient holidays so that they can recharge them self’s and be fresh which in return results in good sales and increased performance of the workers. Giving counselling to the employees when they face problems, because counselling is the discussion of a problem that usually has emotional content with an employee in order to help the employee to cope up.Therefore textile shops should provide effective grievance handling system, balanced workloads, an open communication climate, chance for expressing conflicts with the supervisors and stress reduction programmes like social gathering, organisational focus and celebrations at work place to stabilize Emotional Intelligence at work place. IV. CONCLUSION Stress is an everyday part of many of our lives. Though everyone is having stress in different forms, the cause of stress varies according to the works. If the work stress is more it affects both physical and psychological wellbeing of any human. Stress can make an individual productive and constructive when it is identified and well managed. From this research it can be said Workers in Textile shops undergo stress and they undergo some serious health issues during they experience stress, which reduces their performance and affects the performance of the shops.. V. REFERENCES 1. Suhail Mohammad Ghouse&MoazGharib, (2016), “A study on The impact of job stress on job performance: A case study on academic staff at Dhofar university” 2. Priyesha Jain &AkhilBatra,( 2015), “A study on Occupational Stress at Workplace: Study of the Corporate Sector” 3. Jins Joy & R. Radhakrishnan ( 2013) “A study Impact of work stress among the factory workers in trichur district”

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20.

Jayadevbabudivakar (2015), A study on “Factors leading to work stress and its impact on employee performance” M.Kotteeswari&TameemSharief (March 2014),“A study on Job stress and its impact on employees’ performance - A study with reference to employees working in BPOs” BucureanMirela&CostinMadalina- Adriana, “A study on Organizational stress and its impact on work performance” AbhijeetRawal&SnehaMhatre (2018), “A study on A Study on Work Stress And Its Impacts on Employee’s Productivity With Respect To Teacher’s (Self Financing)” Einar B. Thorsteinsson et al (2014), “A study on The Relationship between Work-Stress Psychological Stress and Staff Health and Work Outcomes in Office Workers” NajmoddinNekzada&SelamawitFissehaTekeste (2013),“A study on a qualitative study on the causes of stress and management mechanisms at Volvo Trucks AB, Umea” Ashok Panigrahi (2016), “A study on Managing stress at workplace” RizwanaRafiq& Ali Medabesh (2015),“job stress among public and private sector workers: an empirical comparison” C. Sagunthala&Dr. R. Karthikeyan (2016),“A Study on Occupational Stress Level of Employees in Textile Shops with Special Reference to Coimbatore District” Sherry Sabbarwal et al (2017),“Occupational stress on employees in information technology organizations V. Sumathi& R. Velmurugan (2016),“A study on work stress among the employees in textile industries with special reference to erode district” Tom Cox & et al (2000), “Research on Work-related Stress” K. Sangeetha (2017) “A study on The impact of Occupational stress on employees in Textile Industry: a Review” Sheena Johnson Susan Cartwright (2005) “A study on The Experience of Work-Related Stress across all Occupations” Mariam Sohail&Chaudhary Abdul Rehman (2015) “A study on Stress and Health at the Workplace-A Review of the Literature” Stress in the workplace Meeting The Challenge By Health advocate C. Ganster and John Schaubroeck Daniel (1991) “A study on Work Stress and Employee Health”.

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EVOLUTION OF UNIFIED PAYMENT INTERFACE IN FINTECH ASHWIN SRIKANTH Final Year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai - 600004 ABSTRACT Financial Technology alias FinTech is one of the greatest innovations conceived in the era of humankind to help improve the transparency and universal acceptance of man‟s significant invention, “Money”. This topic is the most talked these days as it amalgamates the two major aspects that play a great role in our current lives, “Finance and Technology”. Technology facilitates our day-to-day activities greatly. Businesses, small traders, NPOs, etc., are greatly benefitted by this as it brings ease in integrating their operations. The object of this research paper is to delve into the vast topic of FinTech, and study its latest brainchild with respect to the Indian Subcontinent, „the Unified Payment Interface”. The purpose of analyzing the evolution of UPI is to seek and understand the impact this is going to create in the times to come. The UPI was formally branded by the NPCI of the Indian government to bring in interoperability in the financial transactions and greater transparency in the economy. India‟s great achievement in creating the national identifier “Aadhar”, has fast-tracked the growth and scope of this interface. The topics covered in this paper include the inception, growth, consumer perception, and the foreseeable result UPI brings in the future. It takes the readers through each segment ordinally, after which certain hypotheses with respect to research of the cause and effect of UPI are formulated and analyzed, followed by an overall review about the effect this technology has brought upon the economy covering its pros and cons. Keywords: UPI. NPCI, Digital India, Payment Platforms I. INTRODUCTION India, having a population of almost 1.4 billion, is an emerging market for FinTech. Understood simply, the term FinTech is referred to the scope of financial services and technology-based businesses that compete or collaborate with existing financial institutions. The success of the Fintech ecosystem has been caused by a range of factors in India; one especially being the launch of the Digital India initiative by the Government. Through the implementation of this scheme, there will be a minimization in the gap between government departments and the public, which expects the government services and benefits to reach the citizens quickly and without much hassle. Years 2014-16 have witnessed various advancements India’s Fintech industry which actually influenced and created an impetus in the growth of innovations from established corporate sectors including banks, financial institutions and as well as the government. The most prominent of these is the launch of UPI – Unified Payment Interface. The National Payments Corporation of India (NPCI), conducted a pilot launch of this interface with 21-member banks by Dr. Raghuram Rajan at Mumbai. UPI is a set of standard Application Program Interfaces with an open-source architecture provided to the banks and Payment service providers in order to facilitate account-to-account transfers initiated by users. It helps in powering multiple bank accounts into one single mobile application. The growth of the number of transactions taking place through UPI suggests that the people are progressively embracing digitalization. It has brought about significant changes in the everyday transactions of the people. It is also anticipated that the advent of this interface will bring a revolution which the nation has not witnessed in the past. STATEMENT OF THE PROBLEM UPI certainly has many positives considering the surge in mobile phone penetration; however, its relative newness and the deprivation of digital literacy in our economy have evoked doubts about its credibility and reliance. However, the evolution of such an interface and the customer’s perspective of the usability and their reactions have yet to be properly registered. This gap in knowledge has become the desired theme of the research, which is to be acquired by collecting responses from the users. Another important area of focus is the fundamental architecture of such an interface and how it has been constructed, resulting in shedding better light about the subject and ensuring further research about it. II. OBJECTIVES OF THE STUDY The salient objectives of this study are as follows:  To analyze other extant modes of payment and their resultant effect alongside the advent of UPI;  To identify the relationship between the user of digital payment platforms and UPI, and critical analysis of the same;  To collect data about users’ preference and awareness about the interface, their understanding about it, and identifying the challenges/loopholes if any;

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Recommendation of the credibility and reliance of UPI relative to other digital payments subject to the inference made from the exhaustive analysis. Review of Literature Chakraborti P (2016) noted that the Unified Payment Interface has achieved a landmark in the usage of open source technology to build enterprise-class architecture of high knowhow and high volume. It is also expected to handle 10000-15000 transactions per second [TPS] at its peak with a volume of at least 10 million transactions daily. So, the backend architecture needs to be really robust, scalable, and fast. The key point is that it does not use any expensive, commercially available app servers, new message queues etc. The architecture is primarily built on an open source software which is rarely used in a system of this scale. Dr Hem Shweta Rathore (2016) expressed in her study that in today's world, smartphones have become an essential part of daily life. As it has become more rational, the number of smartphone users have increased radically. Technological advancements now allow mobile users to utilize their smartphones to perform digital payment by using applications installed in the phone. Besides payment, people can also store receipt, coupon, business card, bill etc., in their smartphones. Digital payment adoption is rapidly on the rise, largely due to convenience and ease of use. Tech-savvy shoppers are increasingly demanding streamlined, omni-channeled retail experiences. Such solutions will induce the users to adopt digital platforms and cause replacement of hard cash. Kumari and Khanna (2017) mentioned that cashless economy initiative will bring in significant benefits to developing the economy. The cashless system will be helpful to fight against corruption and money laundering taking place in our nation. One significant contribution of the cashless economy is that it is expected to reduce the risk associated with carrying cash.Loss of cash, theft, and armed robbery will drastically reduce when users opt of digital payments more. They have also included certain conceptsregarding positive relationship between cashless system and economic growth. Kalpesh Dinesh Mishra (2017) noted significant points about the Unified Payment Interface, stating that it is a payment mechanism using which fund transfer takes places between two bank accounts. This interface obviates the requirement to provide the bank account details while transferring funds. Security issues are not a worry as the UPI Application is very safe for transferring money because it has two-factor authentication for the user i.e. application password and MPIN. UPI facilitates the transfer the money with the help of a single virtual ID verification call as virtual payment address. The main objective of this interface is to promote cashless transactions with secure transaction facilities. Data Anaysis and Interpretation This chapter focuses on application of data ascertained via questionnaire and undertaking analysis of the same using SPSS software. A sample size of 75 respondents is being taken for the purpose of analysis. Now, in order to explicate and make it relevant for the readers, every analysis is being done in context of each objective. This will facilitate understanding and continuity without scattering the calculations.  Analysis of variance between the usage of cash and digital platforms among the respondents The Oneway ANOVA is undertaken to find out whether there is a difference in the average view of persons using cash and digital means to transact money. The purpose for this is to find out whether frequent cash users do not use digital means to conduct transactions and vice versa. The following are the possible outcomes of this study: H0 – There is no significant difference between average cash users and digital users (above significance level of 0.05) H1 – There is a significant difference between the means of average cash users and digital users The ANOVA table is as follows: Table 1- ANOVA between Cash and Digital users

Between Groups Within Groups

Sum of Squares 15.720

df 4

Mean Square 3.930

58.467

70

.835

F 4.705

Sig. .002

Total 74.187 74 Source: Primary Data Interpretation As the p-value (.002) in the above table 1 is less than the alpha (0.05), the null hypothesis (H 0) can be rejected, and is possible to arrive at the outcome that the means of the two variables have statistically significant differences between each other. This result implies that cash users utilize more and more cash in transactions and less usage of digital mediums; and that digital users tend to use more digital-based platforms and less cash in their transactions.

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Correlation between awareness and frequency of using UPI H0 – There is no relationship between the awareness and frequency of using UPI (>0.01) H1- There is a relationship between the awareness and frequency of using UPI (<0.01) The following table illustrates the correlation between awareness of UPI and frequency of using this interface: Table 2 - Correlation Frequency of usage Awareness of UPI is there Pearson Correlation 1 .436**

Frequency of usage

Sig. (2-tailed)

Significant awareness of UPI is there

.000

Pearson Correlation Sig. (2-tailed)

.436**

1

.000

Source: Primary Data Interpretation It is evident from the table 2 above that there is a statistical relationship between the two variableswhose level of significance is less than 0.01 level and a correlation coefficient of .436 indicating that higher the awareness, the more is the frequency of using this interface. The Null Hypothesis (H0) is thereby rejected. It can hence be said with confidence that by increasing the awareness of this interface, its usage would rise suggesting the possibility of UPI becoming a very useful and frequently-used mode of transaction.  Mode of awareness of UPI (Frequency) The objective of this test is to find out the how the users came to know about this interface. Predetermined options are provided which are accordingly being chosen by the respondents. The results are as follows: Table 3 - Awareness of UPI Variable

Frequency

Percent

Advertisements

15

20.0

Through word of mouth

31

41.3

Newspaper

4

5.3

Online

16

21.3

I was not aware of this platform

9

12.0

Total

75

100.0

Source: Primary Data Interpretation The table 3 above indicates the ways through which the participants were brought to knowledge about this interface.It can be noted that the awareness through the word of mouth stands the highest in this analysis (41.3%), followed by online platforms (21.3%), advertisements (20%), and newspaper (5.3%). 12% of the respondents were not cognizant of this interface which indicates requirement of wider awareness. It is being observed that the awareness though peers and relatives (word of mouth) have the highest impact thereby unveiling a significant feature of UPI: its simplicity and usability.  Rationale of using Unified Payment Interface This analysis focuses on the main reason or purpose for which the respondents normally use this interface. This would give an idea of why UPI is relatively preferred in comparison with other payment platforms and whether there are any unique features in this platform. Table 4 - Rationale of using UPI Variable

Frequency

Percent

Convenience and interoperability

9

12.0

Instant transfer

34

45.3

No transaction charges

6

8.0

24/7 usability

6

8.0

I do not use this interface

20

26.7

Total

75

100.0

Source: Primary Data

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation According to the table 4 above, 45.3% of the respondents chose Instant transfer as their reason for using this interface, followed by convenience and interoperability (12%), no transactions charges and 24/7 usability (8%). Most of the people use UPI because the instant transfer feature makes it convenient and flexible for the users to send or receive money on time. III. FINDINGS  The samples are predominately consisting of students owing to the fact that they are the most influenced by latest technologies and innovations.  Cash users utilize more and more cash in transactions and less usage of digital mediums, and vice versa.  It is inferred that higher the awareness, greater is the frequency in using UPI; hinting that UPI is very user-friendly.  It is being observed that the awareness of UPI though peers and relatives have the highest impact thereby unveiling a significant feature of UPI: its simplicity and usability.  The rationale of using UPI is majorly due to the ―instant transfer‖ facility, because the instant transfer feature makes it convenient and flexible for the users to send or receive money on time. IV. SUGGESTIONS Firstly, the primary suggestion is to create more awareness of the Unified Payment Interface; it is the responsibility of the government to encourage the public to use this platform while conducting transactions. Secondly, smartphone production must help in reaching the rural areas to create digital literacy and break conservative beliefs. Availability of such phones at nominal rates need to be enforced in rural places; this disparity in distribution between urban and rural places should be nullified. Thirdly, the Unified Payment Interface must turn as user-friendly as possible to encourage the older generations to start employing such platforms and conduct everyday transactions by building trustworthiness and special customer support. The final suggestion towards improvement of this interface is to strictly enhance its security measures. Foolproof encryption of the platform is mandatory to gain the faith of users and to support their turning cashless. V. CONCLUSION The dream of a cashless India is viable only when there is a perfect substitute for cash available to the people. Bringing digitalization to the doorsteps of every individual would mean the start of a financially inclusive and transparent economy. The launch of Unified Payment Interface is the first step towards this ideal. The growth and the future of this platform looks promising. The vision of our nation will attain fruition in the coming years by using this substantial tool to break old practices, and play a pivotal role in the confluence of existing and future payment systems into one unified interface for all. VI. REFERENCE 1. Basavaraj Kakade, R. (2017), Unified Payment Interface - A Way Towards Cashless Economy, International Research Journal of Engineering and Technology (IRJET); Volume 04, Issue 11 2. Cyrill, M., (2018), Future of Fintech in India – Opportunities and Challenges. Retrieved from https://www.india-briefing.com/news/future-fintech-india-opportunities-challenges-12477.html/ 3. Desai, S., Jasuja, N., Khandekar, P. (2017), Your guide to UPI — the world’s most advanced payments system. Retrieved from https://medium.com/wharton-fintech 4. Gochhwal, R. (2017), Unified Payment Interface—An Advancement in Payment Systems, American Journal of Industrial and Business Management, 7, 1174-1191. 5. Kulkarni, S., Shahanaz Taj, A. (2018), Digital Payments: Challenges and Solutions. Retrieved from http://www.iosrjournals.org/iosr-jbm/papers/Conf.17037-2017/Volume-4/9.%2050-55.pdf 6. Roshna Thomas (2017), Unified Pattern Interface (UPI): A Catalyst Tool Supporting Digitalisation – Utility, Prospects & Issues, International Journal of Innovative Research and Advance Studies (IJIRAS), Volume 04, Issue 02 7. Sarkariniti, (2017), Digital India Scheme | Digital India Project. Retrieved from https://medium.com/@virilesarkariniti/digital-india-scheme-digital-india-project-f56515ecd71d 8. Shivkumar Goel (2017), A Review on Unified Payment Interface, International Journal for Scientific Research & Development (IJSRD); Vol. 5, Issue 04 9. Somanjoli Mohapatra (2017), Unified Payment Interface (UPI): A Cashless Indian e-Transaction Process, International Journal of Applied Science and Engineering 5(1): June, 2017: p. 29-42 10. Wangchuk, R.N., (2017, December 27), India’s Digital Payments System Rated Higher Than China, UK & Japan. Retrieved from: https://www.thebetterindia.com/125840/indias-digital-payments-highrating/

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IMPACT OF BUYING FOREIGN GOODS ON INDIAN ECONOMY V. SANJAY SRINIVAS Final Year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College Evening College (AUTONOMOUS), Mylapore, Chennai-04 ABSTRACT An economy could be a system of organizations and institutions that either facilitate or play a role in the production and distribution of goods and services in a society. Indian economy was good or at least better earlier. But in the recent decade it has become very poor. When we Indians buy local products or goods, the money is being circulated inside India. When we buy foreign products or goods, the money is leaving India. This will damage the Indian economy. That is what the research is all about. A consumer will always look for and buy the best quality product within his/her budget, irrespective of whether it is domestically produced or imported. They have all the different products available in the market to choose the best. Not all the best quality products are only imported. Consumers will not give a second thought on buying indigenously made products if it offers the best quality and a fair price. As a result, the foreign companies targets India to sell their goods. Keywords: Money, Damage, Indian economy, Indigenous, foreign companies. I. INTRODUCTION There are so many products out there in the market, which we don't even realize that they are not Indian, but foreign. We are so much dependent on them, that we think that these are Indian goods. People complain that our economy is going down, prices are rising and everything becoming costly. Dollar price is increasing and the blame is always on our government for all these things. But our government alone is not responsible. People all over India must be blamed including the government. One of the basic thing to understand is that, if we buy something from some seller, he will get his benefit. If the seller is from India and we buy goods from him, our country is going to get benefited as our currency will circulate in our country and our currency will become strong. Now if the seller is from America, Korea, Japan, Europe, China or any other country, then his country will get the benefit and his currency will become strong. So it is our duty to promote our country made products. People have to be aware of what goods are produced in our country. There are many goods which are available in market and have better or similar Indian substitutes. II. OBJECTIVES OF THE STUDY 1. To find out the reasons for buying foreign products. 2. To find out the satisfaction level of customers using foreign products when compared to Indian product. 3. To know the positive and negative impacts of buying foreign products from the customer point of view. 4. To know the impacts of Indian economy on buying foreign products. Statement of Problem Indians are Never Proud of our Own Products. Indians buy Park Avenue Soap spending Rs45 /- where Mysore Sandal Soap is Just Rs20/-. In India, where locally produced brands are often seen as inferior, businesses consciously choose to build a “fake” foreign image for themselves. These problem statement has a huge impact on Indian economy. Research Methodology Research methodology is a way to systematically solve the research problem, it is not only taking the research method but also considered the logic behind the methods. Sources of data The data was collected from two sources. 1. Primary data: Primary data is also known as raw data, is a data collect at source. The primary data for this research is the survey through questionnaire. 2. Secondary data: Secondary data refers to data which is collected by someone who is someone other than the user. The secondary data for this research were from other articles, websites and books. Sample size Sample size refers to the number of respondents the researcher has selected for the survey. This research has a sample size of 150 sample units. Statistical technique In order to conduct the study, the following tools have been used. Percentage Analysis, Chi – square and ANOVA Limitations of the Data 1. Respondents were not actively participating in the survey. 2. Sample size was restricted to 100. If the sample size was more, the result might change. 3. Due to time constraint the data is collected according to convenience.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 4. Potential areas for the study were left unexplored. 5. Lack of access to the past relevant information. Review of Literature 1) The Roles of Manufacturing And Services In Economic Development (2005) – Dasgupta In the light of a number of new phenomena, a faster growth of services than of manufacturing in many developing countries, the emergence of „de-industrialization‟ in several developing countries, at low levels of per capita income; growth in the formal sector, even in fast-growing countries such as India; and a large expansion of the informal sector in developing countries. 2)Various Links Among Foreign Direct Investment (Fdi), Financial Markets and Economic Growth (2004) – Alfaro They explored if the countries with better financial systems can exploit FDI more efficiently. They showed that FDI alone plays a role in contributing to economic growth. However, countries with well-developed markets gain from FDI. The results were robust to different measures of market development, the inclusion of other determinants of economic growth, and consideration of endogeneity. 3)Impact of Foreign Ownership on Export Performance By Large Corprate Firms in India (1983)– Mohammad He did this study to analyze whether the „monopolistic advantages‟ of multinationals survive in its highly restrictive and regulated environment. After controlling the industrial characteristics and export incentives, foreign ownership had a positive impact on export performance. The statistical significance of the result was not very strong, but they found counters earlier works based on simple comparisons of exports at the firm level. 4) Impact of Fii Inflows on the Indian Economy (2002) – Khanna And Sushil They discussed the impact of FII inflows on the Indian economy and concluded that there is no evidence that the entry of FIIs have reduced the cost of capital to the Indian corporate sector nor have they helped the corporate sector to shift from their dependence on internal resources and funds from public sector development banks to the capital markets. The overall costs of the economy of increased short-term capital flows has been substantially higher than any current potential benefits. Data Analysis and Interpretation Hypothesis 1 –Gender and reasons for buying foreign products. Table 1 - Table showing ANOVA of Gender and Reasons for buying foreign Products ANOVA Sum of Squares Between Groups Value for money

1.570

1

1.570

112.973

149

.758

Total

114.543

150

.908

1

.908

Within Groups

101.727

149

.683

Total

102.636

150

.000

1

.000

Within Groups

108.463

149

.728

Total

108.464

150

5.295

1

5.295

212.678

149

1.427

217.974

150

2.420

1

2.420

Within Groups

157.951

149

1.060

Total

160.371

150

Between Groups Wide range of products

Between Groups Pride and dignity on buying imported Within Groups products Total Between Groups Reluctant towards Indian economy

Between Groups

2.581

1

2.581

260.055

149

1.745

262.636

150

1.370

1

1.370

Within Groups

223.265

149

1.498

Total

224.636

150

Craze on purchasing foreign products Within Groups Total Less choice on buying Indian Products due to\ dominance of foreign products

Mean Square

Within Groups Between Groups

Quality of the products

Df

Between Groups

142

F

Sig.

2.070 .152

1.331 .251

.000 .983

3.710 .056

2.283 .133

1.479 .226

.914 .340

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation From the above table 1, the significance value is lesser than 0.05 and hence the null hypothesis is rejected. There is a significant difference between gender and Indian companies do not offer what the foreign companies are offering. For the other reasons for buying foreign products, the significance value is greater than 0.05 and hence the null hypothesis is accepted. There is a significant difference between gender and reasons for buying foreign products. Hypothesis 2 – Age and satisfaction level of buying foreign products Table 2 - Table showing Chi-square tests of Age and Satisfaction level of buying foreign products Satisfaction level of buying foreign products Value Df Asymp. Sig. (2-sided) Food & Beverage 9.835a 12 0.630 Furniture 5.451a 12 0.941 Leather 6.609a 12 0.882 Electronics & Electrical 4.642a 12 0.969 Textile & Apparel 7.635a 12 0.813 Automobiles (Cars) & Motorcycles (Bikes) 18.098a 12 0.113 Liquor & Tobacco 7.832a 12 0.798 Cosmetics 12.311a 12 0.421 Technology 18.159a 9 0.033 Interpretation From the above table 2, the significance value is lesser than 0.05 for one satisfaction level of buying foreign products. Hence the null hypothesis is rejected. There is a significant association between the variables. The other satisfaction level significant values are greater than 0.05 and hence the null hypothesis is accepted. There is no significant between the variables. Hypothesis 3 – Age and reasons for buying foreign products Table 3 - Table showing ANOVA of Age and reasons for buying foreign products ANOVA Sum of Squares df Mean Square F Sig. Between Groups .586 3 .195 .252 .860 Value for money

Within Groups

113.957

147

Total

114.543

150

.688

3

.229

Within Groups

101.947

147

.694

Total

102.636

150

Between Groups Quality of the products

Between Groups Wide range of products

.840

3

.280

Within Groups

107.624

147

.732

Total

108.464

150

1.818

3

.606

216.156

147

1.470

217.974

150

3.496

3

1.165

Within Groups

156.875

147

1.067

Total

160.371

150

1.614

3

.538

261.022

147

1.776

262.636

150

4.687

3

1.562

219.949

147

1.496

224.636

150

Between Groups Pride and dignity on buying imported Within Groups products Total Between Groups Reluctant towards Indian economy

Between Groups Craze on purchasing foreign products Within Groups Total Between Groups Less choice on buying Indian Products due to dominance of foreign Within Groups products Total Indian companies do not offer what the foreign companies are offering

.775

Between Groups Within Groups

143

2.434

3

.811

216.798

147

1.475

.331 .803

.382 .766

.412 .745

1.09 .354 2

.303 .823

1.04 .375 4

.550 .649

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 ANOVA Sum of Squares df Mean Square F Sig. Between Groups .586 3 .195 .252 .860 Value for money

Within Groups

113.957

147

Total

114.543

150

.688

3

.229

Within Groups

101.947

147

.694

Total

102.636

150

.840

3

.280

Within Groups

107.624

147

.732

Total

108.464

150

Between Groups Quality of the products

Between Groups Wide range of products

Between Groups Pride and dignity on buying imported Within Groups products Total

1.818

3

.606

216.156

147

1.470

217.974

150

3.496

3

1.165

Within Groups

156.875

147

1.067

Total

160.371

150

1.614

3

.538

261.022

147

1.776

262.636

150

4.687

3

1.562

219.949

147

1.496

224.636

150

2.434

3

.811

216.798

147

1.475

Between Groups Reluctant towards Indian economy

Between Groups Craze on purchasing foreign products Within Groups Total Between Groups Less choice on buying Indian Products due to dominance of foreign Within Groups products Total Indian companies do not offer what the foreign companies are offering

.775

Between Groups Within Groups

.331 .803

.382 .766

.412 .745

1.09 .354 2

.303 .823

1.04 .375 4

.550 .649

Total 219.232 150 Interpretation From the above table 3, the significance level is greater than 0.05 and hence the null hypothesis is accepted. There is no significant difference between age and reasons for buying foreign products. III. FINDINGS 1. For Gender and reasons for buying foreign products the null hypothesis is accepted and hence there is no significant relationship between them. 2. For Age and satisfaction level of buying foreign products one dependent variable gets rejected while the other variables are accepted. 3. For age and reasons for buying foreign products the null hypothesis is accepted and hence there is no significant relationship between them. 4.

The respondents agree for the decrease in the GDP.

5.

The respondents agree for the increase in the import bills.

6.

The respondents have agreed for price inflation.

7. The respondents have agreed for fiscal imbalance. IV. SUGGESTIONS 1. Import of foreign goods is acceptable but it must reduce in such a way that domestic industrial goods must be given more importance and proportion 2. India needs to improve quality and advertising and mainly government must support new entrepreneurs. 3. Most of the Indians prefer only foreign products. Indians should start buying Indian products. 4. A consumer will be choosy. Improvement is required in Indian products.

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If there's a substantial decrease in such tax rates then, we might see customers/consumers buying goods that are produced in India and in turn increase in the total GDP of the country. V. CONCLUSION Buying foreign goods does damage our nation‟s economy. Indians try to inculcate the actions taken by the government to reduce the import of foreign goods and the development of the Indian SME. However the import of goods cannot be completely restricted, but India shouldn‟t be dependent on other countries for goods because it would hinder the country‟s development. Whatever import of goods should be in moderation, and done in such a way that doesn‟t affect the cultural or economic advancement of the country. Both Indian and foreign products should be balanced in market as both have its own pros and cons. But if the Indian manufacturers come with the quality of foreign products it will be great to maintain GDP. VI. REFERENCES 1. https://www.google.com/search?q=impacts+of+buying+foreign+products+in+indian+economy+article s&oq=im&aqs=chrome.0.69i59l2j69i61l2j69i59j69i57.4673j1j4&sourceid=chrome&ie=UTF-8 2. https://en.wikipedia.org/wiki/Economy_of_India 3. https://www.quora.com/What-is-the-damage-caused-to-Indias-economy-when-Indians-buy-goods-offoreign-brands 4. https://www.researchgate.net/publication/241767836_Exports_Imports_and_Economic_Growth_in_In dia 5. http://theteenagertoday.com/chinese-products-indian-economy/ maya1984

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IMPACT OF INCENTIVES ON EMPOLYEE PERFORMANCE A STUDY WITH SPECIAL REFERENCE TO SIMPSON CO.LTD V. SETHU BALAJI Final year, Department of Accounting and finance, RamakrishnaMission Vivekananda (Evening) College (Autonomous), Mylapore, Chennai – 04 ABSTRACT Organizations are operating in a very dynamic and highly competitive environment. To remain relevant in the market, they have to be able to respond quickly to ever changing customer demands. Reward management is one of the ways used by organizations for attracting and retaining suitable employees as well as facilitating them to improve their performance. SIMPSON CO.LTD is an organization that offers essential energy services that support other sectors of the economy. The management has established rewards in their organization in pursuit of increasing employee performance so as to ensure prompt and quality service. However, the extent to which the rewards adopted at SIMPSON CO.LTD have influenced employee performance is not established. This study therefore aimed at determining the effect of reward on employee performance at SIMPSON CP.LTD. Specifically the study sought to determine the effect of monetary and nonmonetary incentives on employee performance. The research adopted correlation research design. 72 management employees responded. Data was collected using questionnaires. Descriptive statistics (frequency tables, percentages) were used to present data. Inferential statistics (chi-square) was used to analyse. Data was analysed with the help of the Statistical Package for Social Sciences (SPSS) computer programme. Research can be done to find out impact of other rewards on performance. Research can also be done to identify other factors which may affect performance. Such findings can enhance management of performance. Keywords: Incentives, performance, employee performance, SIMPSON CO.LTD. I. INTRODUCTION Incentive system is ready to stimulate worker motivation how, from a business purpose of read, the corporate so as to attain structure goals or improve worker productivity by adopting various methods can be called the incentive system. Organizations over the years face challenges on each internal and external work surroundings, organizations so cannot maintain company performance while not providing incentives to their staff supported their effective and efficient role. Many companies facing several challenges underneath globalization, particularly in terms of providing incentives to staff, there's want for corporations to formulate AN integrated system of incentives to commensurate with development of works to serve general objectives of accelerating information, reduction of value, providing top quality services, achieving competitive share amidst many organizations within the country. Money is considered to be the universal motivator although other financial and non-financial incentives and benefits create a very special relationship between organization and employees. Employees preform certain tasks; fulfil goals in exchange of money and other incentives packages. Some types of incentive plans are available in industries in which bonuses, conveyance allowance, medical allowance, increase salary, monthly leaves, promotion, recognition are included. These incentives encourage the employees and hence productivity enhances by affecting the performance, efficiency, satisfaction, responsibility, effectiveness and commitment of employees. II. OBJECTIVES  Find out any relationship between motivational and incentives factors and the performance of staff or employees of this company.  Establish whether incentives has any influence on the staff of this company.  To analyze the impact of those motivational incentives on employees’ work performance; that either their performance after getting different incentives increases or not. Company Profile The Amalgamations Group (a.k.a. Simpson Group) is an Indian business conglomerate based in Chennai which has several business interests in Manufacturing Tractors, Automobile ancillaries, Plantation, Trading and services. The most notable being the Tractors and Farm Equipment Limited (Better known as TAFE), Simpsons & Company, T. Stanes& Co, Amco Batteries, Higginbotham's and Addison’s Paint. The group today has over 47 companies with 50 manufacturing plants. Simpsons is perhaps one of the oldest business establishments in the country, with origins dating back to 1840. From 1840 to 1950 it pioneered the building of coaches and carriages, ornate railway coaches, motorcars, steam passenger buses and public service vehicles in India. Simpsons became synonymous with diesel power

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 when it ushered in engine technology into India in 1951 through a Sales & Distribution Agreement with Perkins of U.K. Simpsons was the first Indian company to indigenously manufacture diesel engines for surface transport vehicles. Today it is India's leading manufacturer of high performance diesel engines catering to a wide variety of applications ranging from 15 to 95 BHP covering agriculture, industrial, power generation and marine applications. Review of Earlier Studies Laura Leete: (2000) “The wage dispersion method and employee motivation”; The study found some difference in the distribution of wages between employees of the different types of organization and concluded that non-profit organization exhibited wage equality as the motivational strategy for the employees. Muhammad Wasim Bhatti: (2008) “Imperative Motivational Factor Framework (IMFF) to identify the core motivational factors of employees”;The design narrowed down the factors that could motivate the employees and identified that perquisites and health/life insurance benefits as the most influencing motivational factor for the employees. RoshanLevina Roberts: (2005) “The impact of rewards and recognition on employee motivation”; Explored that the factor rewards had great impact on the employees. The study on the employees working in insurance companies in Western Cape proved that the motivational level of the employee changes correspondingly with the alteration made on the reward and recognition. Dr. K. Chandrasekar: (2011) “The employees working in a public sector organization analyzed on the impact of workplace affecting the employees’ performance level”; The author concluded that managers/supervisors should need to be cordial while working with the whole gamut of work force to get better results. Daljeet Singh Wadhwa: (2011) “The relationship between behavioral factor, environment factor and organization factor on the motivation level of the employees working in cement industry in Chhattisgarh”;On comparing the three variables, it was found that a pleasant work environment would increase the motivation level of the employees.ShaemiBarzoki Ali: (2012) “The study at transport department and terminals in Esfahan province, Iran, investigates the influence of employees performance evaluation process on their intrinsic motivation”;The analysis concluded that an effective and suitable evaluation process should provide necessary feedback to the employees and take action for inner motivation. The study indicated that the performance evaluation process of employees in an organization influenced the intrinsic motivation of the employees. Research Methodology The structured questionnaire was distributed to collect primary data via Google docs and information will be collected directly from 72 employees of Simpson co ltd. The following tools were used in this research Frequency analysis, Correlation, ANOVA & Chi-square. SPSS Version 16.0 software is used to do the analysis. The convenient sampling method is adopted in this research. Table 1 Frequency Analysis Gender Frequency Percent (%) Male 42 58.3 Female 30 41.7 Total 72 100.0 Age Group Frequency Percent (%) 18-25 55 76.4 25-40 10 13.9 Above 40 7 9.7 Total 72 100.0 Educational Qualification Frequency Percent (%) Up to 12TH 7 9.7 Diploma 3 4.2 UG 47 65.3 PG 15 20.8 Total 72 100.0 Marital status Frequency Percent (%) Single 58 80.6 Married 14 19.4 Total 72 100.0 Type of reward Frequency Percent (%) Financial reward 54 75.0 Non-Financial reward 15 20.8 Both 3 4.2 Total 72 100.0

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Level of Employee Apprentice Casual Labour Contract labour Total Source: Primary data

Frequency 17 33 22 72

Percent (%) 23.6 45.8 30.6 100.0

Interpretation Table 1 the Frequency analysis of Gender, Age group, Marital status, Educational qualification, Type of Reward and Level of employee of the respondents. From the above table its inferred that 58.3% of the respondents are male and 41.7% of the respondents are female. 76.4% of the respondents are below 18-25 years, and 13.9% of the respondents are 25-40 years of age and 9.7 % are 35-50 years and only 3% are above 40 years of age. 9.7% of the respondents has stuidedupto 12 th, 4.2% has stuided Diploma, 65.3% has studied UG and 20.8 has stuided PG.80.6% of the respondents are Single and 19.4 of the respondents are married.75% of respondents prefer financial reward, 20.8% of the respondents prefer Non-Financial reward and 4.2% of the respondents prefer Both type of rewards.23.6% of the employee are Apprentice, 45.8% of the employee are Casual Labour and 30.6% of the employee are Contract Labour. Table 2 Level of employee vs. Selection of reward Value Pearson Chi-Square

10.426

Likelihood Ratio

9.387

a

Df

Asymp. Sig. (2-sided)

4

.034

4

.052

Source: primary data H0: Level of employee does not influence while selection of reward H1: Level of employee has an influence while selection of reward INTERPRETATION From the above table # 2 we can derive that the significance value is 0.23 which is less than the standard significance level of 0.05. Hence we conclude the Level of Employee i.e Apprentice, Casual Labour, Contract labour an influencing factor while deciding the which reward is more for important for employee to motivate. The Null Hypothesis (H0) is hence rejected and Alternate Hypothesis (H1) is accepted. Table 3 Correlation between Bonus improve your performance and In the organization bonus scheme is satisfaction. H0: There is no significant difference between Bonus improving your performance and In the organization bonus scheme is satisfaction. H1: There is significant between Bonus improve your performance and in the organization bonus scheme is satisfaction. Bonus improve your organization bonus performance scheme

Bonus improve your performance

In the organization bonus scheme is satisfaction

Pearson Correlation Sig. (2-tailed)

1

.555**

N

72

.000 72

Pearson Correlation Sig. (2-tailed)

.555**

1

.000

N 72 72 Source: Primary data Interpretation It is evident from the table # 3 above that there is a statistical relationship between the two variables whose level of significance is less than 0.01 level and a correlation co-efficient of .555 indicating that the Bonus improve your performance and In the organization bonus scheme is satisfaction are highly correlated. The Null Hypothesis (H0) is hence rejected and Alternate Hypothesis (H1) is accepted III. FINDINGS ď ś 58.3% of the respondents are male. ď ś 76.4% of the respondents are below 18-25.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3  65.3% has studied Under-Graduate.  80.6% of the respondents are Single.  75% of respondents prefer financial reward.  45.8% of the employee are Casual Labor. Limitations  As funding for research and time constraints, it could not comprehensive for all the departments in Simpson CO.LTD to do research.  The sample may not be representative of a comprehensive analysis of information.  This study focuses on aspects of incentive to explore, it can be also explored from the other direction is likely to have an impact on job performance in the future, ex, job characteristics etc. Recommendations Rewards have been known to have a positive effect on employee performance. However no reward system is perfect, this is because motivation is personal and what motivates one employee could be different from what motivates the next. Therefore, the organization should get to know their employees well so that they can employ the right motivational strategy. Herz bergs motivator-hygiene theory says that if higher level needs were met like a sense of achievement, opportunities for personal growth and having responsibility were met, individuals would be motivated (Ryan &Pointon, 2005). The organization should hence change the intrinsic nature and content of jobs by enriching them so as to enhance employees’ sovereignty, opportunities for them to have additional responsibilities, gain recognition and develop their skills so that employees can achieve peak performance. IV. CONCLUSIONS From the findings, it can be concluded that, incentives play a major role in enhancing performance in an organization. While goals and feedback clearly boosts performance, adding an incentive will enhance job interest and persistence. Incentives have a positive effect on motivation. All employees in the various departments should have the same type of incentive system to avoid discrimination in the ministry. It can also be concluded from the findings, that attention and recognition of employees enhances better job performance. With the incentives the company will realize, improved effort by employees, good performance hence can also lead to good public image. V. REFERENCES 1. Laura Leete: (2000) “The wage dispersion method and employee motivation 2. Muhammad Wasim Bhatti: (2008) “Imperative Motivational Factor Framework (IMFF) to identify the core motivational factors of employees” 3. RoshanLevinaRoberts: (2005) “The impact of rewards and recognition on employee motivation” 4. Dr. K. Chandrasekar: (2011) “The employees working in a public sector organization analyzed on the impact of workplace affecting the employees’ performance level” 5. Daljeet Singh Wadhwa: (2011) “The relationship between behavioral factor, environment factor and organization factor on the motivation level of the employees working in cement industry in Chhattisgarh” 6. ShaemiBarzoki Ali: (2012) “The study at transport department and terminals in Esfahan province, Iran, investigates the influence of employees performance evaluation process on their intrinsic motivation”

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A STUDY AND ANALYSIS OF EFFECTIVENESS AND EFFICIENCY OF MARKETING STRATERGIES OF PVR CINEMAS RAGHAV GUPTA Final Year, Department of Accounting & Finance Ramakrishna Mission Vivekananda College, Evening College (Autonomous), Mylapore, Chennai-04 ABSTRACT PVR cinemas are one of the biggest players in the cinema service industry and in addition PVR ltd is the largest and the most premium film exhibition company in India. Since the 1997, PVR ltd has grown as a brand and has redefined the cinema industry and the way people watch and experience the movies in the country. PVR ltd has taken-over CINEMAX during the 2012 and also acquired DT CINEMAS during 2016 which serves around 76 million patrons annually. Currently PVR ltd has controls and operates a cinema chain of 748 screens, 161 properties in 64 cities in 21 states and 1 union territory. PVR Ltd has changed the perception of cinema industry. PVR offers a grand collection of cinema formats, from its Mainstream to Gold Class Cinemas, Director’s Cut to the latest sub brands such as PVR ICON and PVR Superplex. PVR Ltd, the integrated ‘film and retail brand’ has PVR Cinemas as its major subsidiary. Its other two subsidiaries are PVR Leisure and PVR Pictures. PVR Pictures has been a prolific distributor of non-studio/ independent international films in India since 2002. With over 350+ Hollywood, 175+ Hindi, 75+ regional films across genres being released under this banner over more than a decade, PVR Pictures has the highest box office shares of independent foreign language films in the country. The arm has been instrumental in recognizing the gap with respect to the demand and supply of discerning cinema and has consistently released around 30-40 films per year. I. INTRODUCTION Marketing (with reference to cinema industry) refers to those activities of a company that are associated with buying and selling a product or service. Marketing includes various practices such as advertising, selling and delivering products to people.People who work in companies' marketing departments try to get the attention of target audiences using slogans, packaging design, celebrity endorsements and general media exposure. Marketing strategy is a long-term vision of a company i.e. forward-looking approach to planning with the Primary goal of achieving a sustainable competitive advantage. Strategic planning involves an analysis of the company's strategic initial situation prior to theformulation, evaluation and selection of marketoriented competitive position that contributes to the company's goals and marketing objectives. II. OBJECTIVES OF THE STUDY  The main objective is to study about marketing strategies of PVR Cinema.  To check the effectiveness and efficiency of marketing strategies of PVR Cinema.  To suggest the improvements in the marketing strategies of PVR Cinema Entertainment Industry The media and entertainment industry in India consist of many different segments under its folds such as television, print, and films. It also includes smaller segments like radio, music, OOH, animation, gaming and visual effects (VFX) and Internet advertising. Entertainment industry in India has registered an explosive growth in last two decades making it one of the fastest growing industries in India. From a single state-owned channel, Doordarshan in the 1990s there are more than 400 active channels in the country. Research Methedology and Data Collection The study is conducted with the use of primary data only. Data is collected among 120 residents of Chennai city on the basis of a random sample. The data is collected with the help of questionnaires through google forms. The questionnaire consists of 11 questions of which a few are related to their personal information. Questionnaires were aimed to identify how effective and efficient are the marketing strategies used by PVR ltd. Review of Literature Sarangi (2007) "En Limitations of the Study  This study is purely based on the responses received from the respondents.  Since the study was not the authorized researchers so this study is made keeping in view utmost cost effectiveness.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3  

This study is done in a limited time span. Mixed responses were there among different age group of respondents. Peoples were some time unwilling and hesitated in replying Questions.



The consumer behaviour being dynamic in nature, there is every possibility that over the time findings of today may become invalid tomorrow. Tertainment Industry It highlights the aspect of quality of entertainment service industry in India. The objective was to define the parameters of service quality satisfaction with reference to entertainment services in a metro city. In a survey of 300 people visiting the multi-screen cinema halls and luxury hotels, various dimensions of services were found. Customers in metros and other cities have started watching movies in multiplexes which provide excellent ambience and quality. When asked about the factors causing the visit, the customers gave first preference to comfort and ambience provided in the place. For this aspect, the customers were ready to compromise on cost and distance factor. Besides ambience, promptness in services was another factor leading to satisfaction of customers. S. Romi (2008) "Pvr Cinema-Success Story" PVR cinemas have grown from rickety trucks to swanky malls i.e. before PVR CINEMAS came into the cinema business it was indulged in transportation and truck business. It has been a very long journey for Ajjay Bijli. Born in a family that was into trucking business, he was asked to look after his business after he completed his studies. With Priya ( priya is a theatre that ajay Bijli’s family was running as aside business ), Mr Bijli had tasted business and now he wanted more. Since English movies regularly screened at Priya, was in constant touch with Hollywood companies like Columbia, UV and Warner Brothers during that period. The market for English movies in India was growing in a major way and these companies were looking for an outlet in India. Ajay Bijili came in touch with Australian company Village Roadshow that was looking for a partner in India. Soon they became partners. So birth of a joint venture took place between Priya and Village Roadshow Ltd which is now known as PVR. Together they started setting up multiplexes for India. Nandini Raghavendra (2010) "Multiplex Industry: Ready For Consolidation Earlier when Anil Ambani led entertainment group then groups like Adlabs, now Reliance Media works, RMW - bought a controlling stake in Manmohan Shetty's Adlabs with a whopping amount of Rs 350crore, in addition with their 16 multiplex screens and this industry has not seen such big buzz deals before. Until, Shravan Shroff decided to sell his screen dream-Fame which had around 96 screens to Inox. There is still a huge untapped potential and huge scope to grow. The big five players in the industry are Inox, Adlabs, PVR, Waves, Big Cinema in a unified voice feel there is a lot of space to grow and expand. There were some major problem other than too many competitors are factors like piracy, shorter windows with satellite and home video casting into theatrical and of course a low success ratio of films. These problems plus the economic slowdown was leading to execution of plan at a very slow rate. Profile and Backdround Study of Priya Village Roadshow (Pvr) Priya Exhibitors PvtLtd is a part of the diversified Bijli Group and this group had is interest in the transport business, finance and construction sectors all over India. After a downturn in the industry in late 80s when the onslaught of video wars at its peak cinema has now been rejuvenated with the latest international trends in cinema exhibition reaching India's shores swiftly with the arrival of satellite TV. The capitals cosmopolitan audience is becoming increasingly aware of the advanced cinematic technology that enhances the movie going experience and this has whetted their appetite for watching movies on the big screen". To cater to the increasingly sophisticated tastes of the audience Priya exhibitor Pvt. Ltd. totally refurbished the existing cinema in June 1991 including installation of a Dolby stereo sound system. They also gained exclusive rights to screen blockbusters from major distributors mainly Warner brothers, 20th century fox, united international pictures, small wonder then that the cinema has become the focal point for entertainment industry. Priya exhibitors ltd have taken the next initial step for setting up the first multiplex in the country in a joint venture with Village Roadshow Ltd, Australia's leading Entertainment Corporation. PVR is a brand name synonymous with state-of-the-art cinema exhibition in India. PVR has established itself as a very strong brand associated with movies, quality exhibition and youth-targeted promotions.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Analysis and Interpretation Visit To Pvr on the Basis of Online Booking Table-1 Correlation B/W Have You Ever Visited Pvr (And) Online Booking Have you ever visited PVR Cinema? Online booking Pearson Correlation

1

.464

Have you ever visited PVR Cinema? Sig. (2-tailed)

Online booking

.000

N

100

100

Pearson Correlation

.464

1

Sig. (2-tailed)

.000

N

100

100

Source: Primary Data Interpretation There is a positive correlation between visiting PVR cinemas and online-booking because the value is less than 0.05 then null hypothesis is rejected and there is a significance relationship between 2 variables. So, there is relationship between the two variables. Advetising Stratergies Chart – 1 Knowledge About Pvr Cinemas

Source: Primary Data Interpretation From the chart we can identify that billboards have played major role in advertising and spreading knowledge about PVR. Visit To Pvr on the Basis of Movies Newsletter &Magazine Table 2 Cross-Tabulation B/W Movies Newsletter And Magazine&Visit To Pvr Cinema Value Df Asymp. Sig. (2-sided) Pearson Chi-Square Continuity Correction Likelihood Ratio

b

5.222a

1

.022

3.467

1

.063

7.486

1

.006

Exact Sig. (2-sided) Exact Sig. (1-sided)

Fisher's Exact Test

.031

Linear-by-Linear Association 5.170 N of Valid Cases

b

1

.024

.023

100

a. 2 cells (50.0%) have expected count less than 5. The minimum expected count is 2.70. b. Computed only for a 2x2 table Source: Primary Data Interpretation It is clear from the table that the significant value is less than 0.05. so there is association between movies newsletter and magazine and visit to pvr. Pvr’s Sound System Chart-2 3-Way Sound System Facility

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Source: Primary Data Interpretation From the chart we can identify that people have strongly agreed to the working of 3-way sound system. III. FINDINGS OF THE STUDY 1. On the basis of the survey it was found that maximum - numbers of respondents are aware about PVR cinema.It was found that respondents have mixed responses when they are asked about how they know about PVR Cinema. Some said through Commercials, some said through websites, online advertisement, Print Ads, Word of Mouth. But if observed most of the people know about PVR though Billboards. 2. It was observed that the maximum numbers of respondents lie in the age group of 18-30 years and out of them most of the visitors are students.It has been observed that over 85% of respondents have visited PVR Cinema at least once in a month. 3. It was found that most of the respondents are aware about all the marketing strategies of PVR Cinema. Online ticket booking, tele-booking and online payment system are some of the features of PVR Cinema which was rated highest by maximum number of respondents. 4. Self-selection of seats is considered the most favourable feature of PVR Cinema. 5. Almost every respondent showed their consent that the food quality and the service provided by PVR 6. The feature that attracts respondents in the best way is the 3-way surrounds sound system and the seating and the projection arrangement of PVR Cinema. Recommendations 1. PVR should bring better technologies to improve the cinema viewing experience, so that more and more people opt for PVR cinemas for its best cinema experience at best prices. 2. Also, the prices charged for the food and beverage counter are way costly in respect of the quality food and beverages and services provided. 3. PVR cinemas should provide student discount to school and college going students. 4. While intermission, the ready to eat products like patties, popcorns, soft drinks should be providing the viewers inside the hall because the food counter gets highly crowded 5. Once a movie is past its prime and running in the second or third week where sales are low, then PVR has to limit its no of shows of a movie per day so that more people attend movie after the third week and generate more revenue per screen. 6. Special promotional campaigns for students for instance could help in attracting the vast price sensitive student audience. Such promotions could happen once or twice a month without diluting the superior brand image. IV. CONCLUSION Purpose of any survey or research is to fulfil the objectives. In this study of the Topic - "Study and Analysis of Effectiveness and Efficiency of Marketing Strategies of PVR Cinema� in attracting the customers to visit PVR multiplex, the various objectives have been fulfilled by using the method of Questionnaire, getting it filled from 100 respondents and finally analysing the results. After analysing the results, it has been found that marketing strategies of PVR Cinema to attract the customers towards the brand plays an effective role in influencing the decision making of the customer. According to the respondents every single effort made by the PVR Cinema is worth appreciation. Their effectiveness can be observed with their market growth and their market share in the multiplex industry. They make every possible effort to maintain their positioning in the market. PVR Cinema doesn't believe in the philosophy of Sit and Relax. They keep adding something new to their services to make their customers always fully satisfied and maintain their position as Market Leader in the industry. Though whatever PVR Cinema is doing for their brand is adding to their popularity but there is still some scope of improvement as the multiplex industry nowadays is full of competition with the big corporates

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 involved in it. Also, this analysis has shown that multiplex has become the biggest source of entertainment for the present generation. They want everything under one roof and that makes the remarkable growth of multiplexes in India. V. REFERENCES Article Reference 1. www.indianmba.com/Faculty_Column/FC840/fc840.html 2. https://www.coursehero.com/file/p7olblt/This-is-reflected-in-that-as-much-as-60-of-Indian-theatricalrevenues-for/ 3. https://economictimes.indiatimes.com/industry/media/entertainment/multiplex-industry-ready-forconsolidation/articleshow/5729412.cms Books 1. Principles Of Marketing Paperback – 2014 by Neha Singhal Pooja Jain (Author) 2. The Art of Digital Marketing: The Definitive Guide to Creating Strategic, Targeted, and Measurable Online Campaigns Hardcover – 2016 by Ian Dodson Other Reference 1. www.ibel.org/industry/Entertainment.aspx 2. www.economictimes.com 3. www.percinemas.com 4. http://www.pwc.com/en_IN/in/assets/pdfs/ficci-pwc-indian-entertainment-and-media industry.pdf 5. http://www.livemint.com/2007/07/24021641/Multiplexes-feeding-India821.html 6. http://www.icicidirect.com/mailimages/ICICIdirect_Multiplex_EventUpdate.pdf

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A STUDY ON BRAND LOYALTY TOWARDS MAGGI A.R. ARUNACHALAM Final year, Department of Accounting and Finance, Ramakrishna mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai-600 004 ABSTRACT This study has been conducted to measure and evaluate the brand loyalty of Maggi. This study also analyses the reason behind preferring Maggi. It also tries to identify the major problems encountered by the consumers while preferring Maggi. This study was conducted with the help of a well-structured questionnaire. The sample size of this study was 100 respondents. The study concludes that the majority of the consumers were satisfied with the level of quality, quantity and the overall experience provided by Maggi. Key words:Brand loyalty, Maggi, Satisfaction. I. INTRODUCTION Brand loyalty is a consumer behavior pattern where consumers tend to buy the product again and again because they are committed to a particular brand. Companies use creative marketing strategies, such as loyalty programs, trials, brand ambassadors, advertisements and incentives like free samples to build brand loyalty (Charles et al.). It can also be demonstrated with other behavior of the brand by positive word of mouth, advocacy. Brand loyalty is the biggest asset a brand can have, it showcases that the brand is being accepted by the brands for what it stands. Businesses which have a very high ethical standards have the advantage of creating a brand image among its users, higher the ethical standards higher the goodwill generated among its brands. True brand loyalty occurs when the brands are willing to pay the price that is being quoted for the product. Review of Literature Charles et al., (1992)investigated the relationship between self-image, brand image, and brand loyalty by exposing whether people use their products to enhance self-image. The respondents described themselves on an adjective checklist, and then listed product brands to which they considered themselves loyal or not loyal. One month later, the researcher used the same adjective checklist to describe the type of person who would buy a particular brand to which they are loyal and a brand to that they're not loyal for each gender and non-gender connected merchandise. The study concluded th at the significant differences between the two groups and a high correlation between self and product user ratings. This clearly reveals the close relationship between the brand image and self-image which has a predominant role in assessing personal care product users. Bloemer and Kasper (1995)examined the relationship between consumer satisfaction and brand loyalty. First, in defining brand loyalty; a distinction was made between repeat purchasing behaviour and brand loyalty. Next, true brand loyalty was distinguished from spurious brand loyalty. Second, a pair of kinds of shopper satisfaction unit of measurement distinguished supported the quantity of elaboration upon the analysis of the whole choice: manifest satisfaction and latent satisfaction. It was hypothesized that the positive relationship between manifest satisfaction and true complete loyalty was stronger than the positive relationship between latent satisfaction and true complete loyalty. Also, it was found that the relationship between consumer satisfaction and brand loyalty was not simple and straightforward. The same can be tested in case of personal care products. Lyong Ha (1998)integrated three aspects of brand loyalty, and investigated the relationships among several antecedents of behavioural brand loyalty by introducing the theory of reasoned action. Eight conditions of unit whole loyalty have completely different levels of name loyalty shown by the brands. When attitude, subjective norm and purchase behaviour are all consistent and favourable, the maximum level of unit brand loyalty will be realized. This clearly divulged the significance of attitude, subjective norm and purchase behaviour in case of any study related to brand loyalty. George and Charles (2000)conceptualized the brand association that consists of three dimensions: brand image, brand attitude and perceived quality. Three studies were conducted to visualize a protocol for developing product category specific measures of name image, investigate the spatial property of the whole associations construct and explore whether or not the degree of spatial property of name associations varies relying upon a brand's familiarity. The findings confirmed that the efficacy of the brand image protocol indicated that brand associations differ across brands and product categories. The study found that brand associations for different products should be measured using different items. As foreseen, spatial property whole of brand name of name associations was found to be influenced by brand familiarity. Hence, these three dimensions can be considered for further studies to expose its significance in brand loyalty and switching.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Srivastava(2007)has explored brand loyalty behaviour across different product categories, and investigated the dimensions that drive loyalty behaviour within the age group of 18 -24. The study ended that there was a big distinction within the degree of brand name loyalty exhibited by the 18-24-year-old respondents across product classes. The dimensions of brand name choice conjointly vary by product kind. Brand Loyalty in terms of quality, novelty and reputation influence was evident in coffee and toothpaste purchase, with brand as a reflection of selfimage being something that was important to mobile handset brands. Hence, it is very apparent that the age factor of the brands plays a prime role in deciding the brand loyalty. Research Gap From the extensive review of literature, it was found that the studies on brand loyalty in India context are scarce. In fact, a multidimensional approach of brand loyalty remained a new area to investigate in Indian scenario (Krishnan & Harvindersingh, 2011).Earlier research studies have focused majorly on hospitals, telecom, banking, insurance and hotel industries giving a wide room to study the brand loyalty in retailing sector. As retailing is a growing industry in India, a study of brand loyalty demands more attention and significance. Significance of the Study Brand loyalty is a consumer behavior pattern where consumers tend to buy the product again and again because they are committed to a particular brand. Companies use creative marketing strategies, such as loyalty or rewards programs, trials, brand ambassadors,advertisements and incentives like free samples to build brand loyalty. The study is solely focused on measuring the loyalty of consumers to a particular brand, this study will assist the top management of Nestle to know how many consumers are loyal to them and what they can do to retain their existing market share and attract new consumers. Statement of the Problem The instant food market is constantly changing. Every other day there is a new brand which is being introduced in the market so it is very important for the existing brands to improve their product on a consistent basis to cater to the competition and needs of the consumers. The study is solely focused on measuring the consumer perception and their loyalty of a particular brand. This study is considering demographic factors such as income levels, age, occupation and other values which influence the brand loyalty such as quality, quantity and price of the product. The brand Maggi has been chosen out of familiarity and because of the trust that is being placed by the consumers on the brand. When compared to other brands Maggi has retained its market share and is maintaining the level of security. II. OBJECTIVES OF THE STUDY The objective of the study is as follows:  To measure the value of Maggi as a brand.  To analyze the reasons why the consumers are loyal to Maggi.  To understand how Maggi as a brand has improved since its ban.  To find out if there is a relationship between age and consumption of Maggi. Scope of the Study The study focuses on measuring brand loyalty of consumers of Maggi. The study tries to understand the reason behind why consumers are preferring Maggi over other brands, since the study is going to be conducted by circulating a questionnaire which allows the respondents to express their views and their perception on Maggi. The study will also lay equal importance on the quality aspects of Maggi. This study will also try to measure the impact of Maggi ban among the consumers and will also try to compare the pre and post impact of ban on Maggi. At the end of the study the results can be used to measure the loyalty of consumers on Maggi. This study will also provide suggestions on how Maggi can effectively retain its market share and improve the overall satisfaction of consumers. Research Methodology Primary Data has been collected through questionnaire.The questionnaire has been distributed to selected 100 respondents.The present study is confined to the consumers residing in Chennai city.100 consumer’s responses have been collected by convenience sampling.The data collected has been analysed by using SPSS software wherein regression, ANOVAand independent t test has been used.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Results and Discussion Demographics Sl. No.

Table 1 Demographics of the Respondents Demographics Category Frequency Male 60 Gender Female 40 Total 100 18to 25 years 78 26-35 years 15 Age 36-45 years 6 above 45 years 1

Percentage 60.0 40.0 100.0 78.0 15.0 6.0 1.0

Total Up to HSC UG/PG Professional Technical Total

100 25 25 25 25 100

100.0 25.0 25.0 25.0 25.0 100.0

Up to Rs. 15,000 Rs. 15,001-30,000 Rs. 30,001-45,000 Above Rs. 45,000 Total Student

21 31 26 22 100 70

21.0 31.0 26.0 22.0 100.0 70.0

Qualification

Monthly Income

Employed 25 25.0 House wife Nil Nil Business man 5 5.0 Total 100 100.0 Source: Developed for the study There are 61%of male and 39% of female participation in the survey. In that youngsters (18-25 years) cover 77% followed by 22% of middle aged men (26-45 years) and the remaining 1% are old (above 46). Over 69% of them are students and working people are around 26%. 31% of people are earning Rs. 15,001-30,000 followed by 26% peoples are earning Rs. 30,001-45,000. Buying Behaviour Table 2 Buying Behaviour Sl. No. Demographics Category Frequency Percentage Yippee 45.5 45.5% Top ramen 22.8 22.8% Which brand of noodles do you Joy me 12.9 12.9% 1 consume Others 18.8 18.8% Total 100 100.0 Daily 6.9 6.9% Weekly once 20.8 20.8% 2 How often do you consume Maggi Monthly once 34.7 34.7% Rarely 37.6 37.6% Total 100 100.0 Yes 59.4 59.4% Did you consume any other brand of 3 No 40.6 40.6% noodles during the ban of Maggi Total 100 100.0 Occupation

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4

5

Do you prefer providing Maggi to children

Which is the most preferred time to have Maggi

Yes No

49.5 50.5

49.5% 50.5%

Total Breakfast Brunch Lunch Dinner Total

100 32 29 7 32 100

100.0 32% 29% 7% 32% 100.0

Source: Developed for the study Respondents over 45.5% prefer yippee, 22.8% prefer top ramen, over 31.7% prefer other brands.6.9% of the people consume Maggi daily, 20.8% consume weekly once, 34.7% consume Maggi once in every month and 37.6% consume Maggi rarely. During the ban of Maggi 59.4% of the respondents consumed other brand of noodles while the rest did not consume noodles. Over 49.5% of the respondents did prefer providing Maggi to children while the rest did not prefer it. Over 32% like to have Maggi for breakfast, 7%for lunch, 32% for dinner, and 29% for brunch. Hypothesis Testing The following hypothesis was framed to test the relationship between gender and brand loyalty. H1o: There is no significant difference between gender and brand loyalty H1a: There is significant difference between gender and brand loyalty Table 4.2 Independent Sample T Test t test statistic Degree of freedom Sig. (2-tailed) Mean Difference 1.169 98 .245 .97083 Source: Developed for the study The results of the independent sample t test indicate that the Null Hypothesis should be accepted.It implies that there is no significant difference in brand loyalty with respect to gender. The second hypothesis is about age and brand loyalty. The following hypothesis was framed. H2o: There is no significant difference between age and brand loyalty H2a: There is significant difference between age and brand loyalty Table 4 ANOVA Sum of Squares Degree of Freedom Mean Square F Sig. Between Groups 48.954 3 16.318 .982 .405 Within Groups 1594.878 96 16.613 Total 1643.832 99 Source: Developed for the study The ANOVA results indicate that the Null Hypothesis should be accepted. The results show that there was no statistically significant difference at the p<0.05 level. Hence it can be concluded that Brand loyalty does not significantly differ according to age. III. FINDINGS  There are more number of male respondents.  Majority of the respondents are students.  Consumers prefer Yippee and Top ramen as their second and third alternative.  Respondents prefer Maggi for their breakfast rather than dinner.  Brand loyalty does not vary according to age.  Brand loyalty does not vary according to gender. Limitations of the Study The limitations of the study are as follows:  As the research is based on samples it may not reveal the true facts.  There might be some biased answers which cannot be eliminated completely.  Due to constraints of time the study is only restricted to particular area.  A sample size of only 100 was taken from the large population.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Scope for Future Research This study was conducted with 100 respondents who consume Maggi. In the future this study may be conducted by using more number of samples. Also in future different tools and statistical techniques can be used. This study is restricted to Chennai city hence it can be replicated in other cities, states and all over India. IV. CONCLUSION Brand loyalty leads to success. People become loyal because of quality of the product and after sales service quality. This study revealed that product’s quality is essential for long term growth. Even though Maggi has suffered temporary ban, its quality has made it to regain No.1 brand status.The findings of the study revealed that Maggie has created loyal consumers over the years through emotional connection with the consumers. V. REFERENCES 1. Charles T (1992) “Brand Character as a Function of Brand Loyalty”, Current Psychology, Vol.11, Iss.4, pp. 347 – 353. 2. José M.M. Bloemer, (1995) “The Complex Relationship between Consumer Satisfaction and Brand Loyalty”. Journal of Economic Psychology, Vol.16, Iss.2, pp.311-329. 3. Choong Lyong Ha, (1998) "The Theory of Reasoned Action Applied to Brand Loyalty", Journal of Product and Brand Management, Vol.7, Iss: 1, pp.51 – 61. 4. George S. Low, Charles W. Lamb JR (2000), “The Measurement and Dimensionality of Brand Associations”, Journal of Product and Brand Management, Vol. 9, No. 6, pp. 350-368. 5. Srivastava, R.K - Determination of brand loyalty factors age group-18-24, Academy of Marketing Studies Journal Jan, 2007 Source Volume: 11 Source Issue: 1 ISSN: 1095-6298.

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A STUDY ON CONSUMERS PERCEPTION TOWARDS LIFE INSURANCE POLICIES WITH REFERENCE TO CHENNAI K. VAISHNAV NARAYANAN Final Year, Department of Accounting And Finance, Ramakrishna Mission Vivekananda College (Evening) (Autonomous), Mylapore, Chennai - 600004 ABSTRACT Life Insurance has become a key area for people to look into post privatization and with the increase in foreign direct investment into the country; people have a wide array of schemes to Choose from so, it is important to know the buying behavior of people towards life insurance policies. In the space of 12 years, private life insurance companies have managed to acquire 21 percent of the market. However, there is still a huge unexploited demand for insurance. Insurance companies have a crucial role in offering insurance products which meet the needs of the people. While LIC, with the majority stake in the sector, is striving to maintain the top slot, private entities are competing with one another to make a prominent presence. The study was undertaken to find out the perception of people towards life insurance and to find out how they came to invest in life insurance policies and the reasons behind them. Data was collected with the help of questionnaire and sample size of 50 respondents. The two main findings of the study reveal that quality and better services are the attributes most preferred by respondents and that respondents are most influenced by two main factors to purchase life insurance policies by the way of family or friends and through the visit of an insurance agent. Key Words – Foreign direct investment, market, insurance products, demand. I. INTRODUCTION A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a payment, known as a death benefit, to the recipients upon the insured's death. Typically, life insurance is chosen based on the necessity and purpose of the owner. Term life insurance usually provides protection for a set span of time, while permanent insurance, such as whole and universal life, provides lifelong coverage. When there is only one earning member in the family and if this person passes away then the income will cease to flow and if this is not anticipated then the standard of living of the family members will fall and they will struggle to meet even basic needs like education. As a failsafe life insurance will help a family at times like this. Under sections 80C and 80D of the Income Tax Act, A person can avail exemption on the amount of premium paid. This will lower the total taxable income and helps the person to save money. Another advantage of a life insurance policy is that you have flexibility over what company you choose, the policy, coverage, duration and beneficiary. II. OBJECTIVE OF THE STUDY • To find out the attributes consumers look towards while they invest in life insurance policies. • To find out how consumers are influenced into purchasing life insurance products. • To find out the opinion of respondents towards the life insurance sector and its prospects. • To test the relationship between age and attributes expected by the respondents. • To test the relationship between age and factors influencing the respondents. Review of Literature Arunajatesan (2002) in his study attempts to find the reason for poor penetration of insurance and influencing factors like awareness of Life Insurance Products, preferred Frequency of saving, insurable population, reasons for buying etc. The findings of the study were that 70% of the population is aware of insurance through Television, Newspapers and agents and among them only 24% are insured. Regarding the knowledge of schemes, less than 15% are known and reasons for buying insurance is only for tax planning and risk cover only. Raman and Gayatri (2004)have observed the customers‟ awareness towards new insurance companies. They found that 53% of the respondents belong to the age group below 30, 24% to the age group 31-40, 2% belong to the age group of 41-50 and the rest of the respondents belong to the group of „above 50‟. They also observed that a large percentage of the insured respondents(32%) are professional, and 56% of the respondents are married. It is also found that 52% of the respondents have taken a policy to cover risk and 44% of them to avoid tax and the remaining to invest their surplus amount. Sahu et al.(2009) conducted a survey on 150 respondents to determine the attributes affecting buying behavior of consumers , investment pattern in life insurance services and compare the differences in consumer

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 perception of male and female consumers. In their study they found that there are 6 factors which affect the buying behavior while purchasing life insurance policies namely consumer loyalty, service quality, ease of procedures, satisfaction level, company image and company client relationship. There is no difference between the perception of male and female preferences. Venkaiah and Sudhir (2013)conducted a survey to find out the performance of private insurance players and took sample of 200 respondents. They found that very few respondentsfeel private companies to be better than public. The services offered by private companies are asper expectation of customer and they feel no risk in investing in private companies. Respondents want more policies with tax benefits among private companies. Research Methodology To perform this study, we have taken a survey among a group of individuals owning a life insurance policy and asking them their opinion on the life insurance sector in India and what made them buy a life insurance policy and the reasoning behind it. The study has been performed by using primary data and secondary data. Primary data is the process of collecting data at the first source from the respondents. Primary data was collected through survey method (questionnaire observation) from the respondents. Secondary data is the data that have been already collected by and readily available from other sources. Such data are cheaper and more quickly obtainable than the primary data. Secondary data was collected through various books, websites and articles available. Tools like Chisquare and Correlation were also used in this study. Data Analysis And Interpretation Analysis on Attributes Expected By Respondents Table 1 (Source - Primary Data) Attributes

Frequency Percent Valid Percent Cumulative Percent

Quality

12

24.0

24.0

24.0

Company reputation

11

22.0

22.0

46.0

Better services

12

24.0

24.0

70.0

Better terms

8

16.0

16.0

86.0

Less premium

7

14.0

14.0

100.0

Total

50

100.0

100.0

Interpretation The above Table 1 shows that 24% of the respondents have chosen quality as an attribute they seek while investing in a life insurance policy, 24% have chosen better services, 22% have chosen company reputation, 16% have chosen better terms and the remaining 14% have chosen less premium. Analysis on Factors Influencing Respondents to Purchase Life Insurance Policies Table 2(Source - Primary Data) Factors

Frequency Percent Valid Percent Cumulative Percent

Visit of an insurance agent

17

34.0

34.0

34.0

General advertising

7

14.0

14.0

48.0

Newspaper

3

6.0

6.0

54.0

Online advertising

4

8.0

8.0

62.0

Family or friends

19

38.0

38.0

100.0

Total

50

100.0

100.0

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation From the Table 2, it can be seen that 38% have cited family or friends as a factor influencing their purchase, 34% of the respondents have chosen visit of an insurance agent, 14% of the respondents have chosen general advertising, 8% have chosen online advertising and the remaining 6% have chosen newspaper. Correlation Analysis Table 3(Source - Primary Data)

The quality of products of public sector companies has improved with the entry of private sector companies

Pearson Correlation

Entry of private companies has widened the scope and improved the prospects of insurance sector.

The quality of products of public sector companies has improved with the entry of private sector companies

Entry of private companies has widened the scope and improved the prospects of insurance sector.

1

.346*

Sig. (2tailed)

.014

N

50

50

Pearson Correlation

.346*

1

Sig. (2tailed)

.014

N

50

50

Correlation is significant at the 0.05 level (2-tailed). Interpretation Table 3, clearly shows the value of CORRELATION and its significance level. It is clear from the table that the significance level is less than 0.05. Hence, it is inferred that there is a relationship between the two variables. Chi-Square Analysis Table Showing Relationship Between Age and Attributes Expected By the Respondents Null Hypothesis (H0): There is no relationship between age and the attributes expected by the respondents. Alternate Hypothesis (H1): There is a relationship between age and the attributes expected by the respondents. Table 4(Source - Primary Data) What attributes do you expect while investing in a life insurance policy Age

Quality Company reputation Better services Better terms Less premium Total

20-30 years

5

6

2

5

2

20

31-40 years

3

1

1

1

2

8

41-50 years

2

3

4

0

0

9

Above 50 years

2

1

5

2

3

13

12

11

12

8

7

50

Total

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Chi-Square Tests Value

df

Asymp. Sig. (2sided)

Pearson Chi-Square

13.911a

12

.306

Likelihood Ratio

16.605

12

.165

.685

1

.408

Linear-by-Linear Association N of Valid Cases

50

a. 20 cells (100.0%) have expected count less than 5. The minimum expected count is 1.12. Interpretation Chi-square analysis measures the association between two variables. The table shows the value of Chisquare and its significant level. It is clear from the table that if the significance level is less than 0.05. Hence, it is inferred that there is no association between the two variables (H0). This shows that a respondent of a particular age level does not have a specific attribute that he/she prefers. Table Showing Relationship Between Ageand Factors Which Influenced The Respondents Null Hypothesis (H0): There is no relationship between age and factors influencing the respondents. Alternate Hypothesis (H1): There is a relationship between age and factors influencing the respondents. Table 5 (Source - Primary Data) What factors influenced you to buy insurance visit of an family general online insurance newspaper or Total advertising advertising agent friends age

20-30 years

6

3

2

2

7

20

31-40 years

0

1

1

1

5

8

41-50 years

4

2

0

1

2

9

7

1

0

0

5

13

17

7

3

4

19

50

Above years

Total

50

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Chi-Square Tests

Value

df

Asymp. Sig. (2-sided)

Pearson Chi-Square

11.209a

12

.511

Likelihood Ratio

15.668

12

.207

Linear-by-Linear Association

1.098

1

.295

N of Valid Cases

50

a. 18 cells (90.0%) have expected count less than 5. The minimum expected count is .48. Interpretation Chi-square analysis measures the association between two variables. The table shows the value of Chisquare and its significant level. It is clear from the table that if the significance level is less than 0.05. Hence, it is inferred that there is no association between the two variables (H0). This shows that a respondent of a particular age level cannot be influenced by a specific factor. All respondents of all ages have different ways by which they get influenced. III. FINDINGS The analysis shows that 24% of the respondents have chosen quality as an attribute they seek while investing in a life insurance policy, 24% have chosen better services, 22% have chosen company reputation, 16% have chosen better terms and the remaining 14% have chosen less premium. As with any service people expect quality and consistency. Respondents also seek a company‟s services based on their reputation. From the analysis it can be seen that 38% have cited family or friends as a factor influencing their purchase, 34% of the respondents have chosen visit of an insurance agent, 14% of the respondents have chosen general advertising, 8% have chosen online advertising and the remaining 6% have chosen newspaper. There is very less use of online advertising to reach prospective customers. Television advertisements are also a rarity these days. Correlation measures the relationship between two variables. In this study we have compared variable “The quality of products of public sector companies has improved with the entry of private sector companies” and “Entry of private companies has widened the scope and improved the prospects of insurance sector”. Since the significance level is below 0.05 we can understand that there is a significant relationship between these two variables. Chi-Square analysis measures the association between two variables. Measuring the variables “Age" and "What attributes do you expect while investing in a life insurance policy", We can say that these two variables have no relationship. This means that respondents of the age 20-30 years do not have a fixed attribute preference and this applies to all other age levels. The second chi-square analysis measures the relationship between "Age" and " What factors influenced you to buy insurance", We can say that these two variables do not have a relationship. This means that any person of any age level can be influenced by any factor. There are no fixed factors that can only influence a person of a particular age level. IV. SUGGESTION There is low penetration for life insurance in rural areas. Awareness and understanding of insurance products are also very low. The Indian Government should work on making insurance accessible to rural people. They should make a concise effort to preach the importance of having an insurance policy. Private companies lack the presence to take on the Indian life insurance market which is dominated largely by LIC. It is suggested that private companies open more branches in rural and urban areas to capture more market share. Insurance companies should offer a wide variety of products that meet the needs of different income groups. They should be innovative and ready to change as the market needs them to do so. Any kind of promotional activity taken by an insurance company should use the local language to target people.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 V . CONCLUSION From the study we can learn that life insurance is a very important investment to people. The unpredictability of what happens around us has led to seeing life insurance not as an option but a necessity. Demographic factors such as income and occupation play a significant role in influencing and determining the attitude of policy holders. Most people prefer to have a life insurance policy with higher risk coverage and sufficient returns. There is very less share of the market for private companies in India due to the existence of LIC who have been here for decades and have a positive image among the Indian public. It will take a lot of time and effort for private companies to have a majority in the Indian market. VI. REFERENCES 1. https://www.researchgate.net 2. https://www.entrepreneur.com/article/285877 3. https://www.scribd.com 4. http://shodhganga.inflibnet.ac.in 5. http://www.academia.edu

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A STUDY ON CUSTOMER AWARENESS IN BANKING TECHNOLOGY WITH REFERENCE TO CHENNAI CITY T. VENKATA KARTHICK Final Year, Department of Accounting and finance Ramakrishna Mission Vivekananda College (evening) (Autonomous), Mylapore, Chennai- 600004. ABSTRACT This study shows improvement in banking technology day by day. People are also becoming aware of it. Most of the people think that electronic banking has made their lives easy. They know all the features of ebanking which they are using. But still there are others who prefer to visit banks for their transactions like paying bills instead of sitting at home and make online transactions. In this session, people are of the view that banks are not providing services properly which is the basic reason people are not aware of these services. Customer’s attitude and awareness level towards modern banking facilities was analyzed through tested questionnaires. The sample size for users of modern banking technology was 112 respondents’ establishments. The analysis was done using statistical techniques like ANOVA, Chi-square and Correlation. Keywords: Customer awareness, usage of modern banking facilities. I. INTRODUCTION TO MODERN BANKING SYSTEM Banks are changing the way in which their services can be reached to their customers by bringing in flexibility in their distribution channels. In case of banking sector also this is happening. Thus a study about the use and awareness of modern banking facility has social value. Some of the basic awareness measures provided by the bank to maintain proper security among customer‟s information. Measures like a strong password which has combination of letters and numbers, keeping the personal information private, installation of antivirus software and keeping it up to date. Modern Banking Solution (MBS) is a leader in core bank processing software, solutions, and technology innovation. We examine the challenges facing today‟s community banks and provide solutions so you can operate an efficient and successful business. We offer hosted, in-house, service center, and service bureau (outsourced) solutions designed specifically for community banks. Maintaining a satisfied customer base is one of our highest priorities. This is achieved by giving our customers support services that are unequaled in the industry. Our solid technology background combined with the latest breakthroughs in performance-enhancing solutions allow us to offer our customers fast, efficient, and cost-effective solutions that help improve and grow their financial institution.MBS partners with community banks to deliver flexible, realtime core processing solutions. Leveraging our knowledge of the bank industry, we‟re able to create world-class core processing solutions that incorporate more than just the latest technology. We offer flexible and scalable solutions for our in-house, hosted, service center, and service bureau (outsourced) platforms–each with a powerful integration feature. We develop products that match your needs, function the way you operate, and incorporate the work flow you prefer. We understand banking and we can help evaluate risk, enable regulatory compliance, and safeguard your reputation. We adapt as your needs change, with speed, efficiency, and costeffectiveness that larger companies just can‟t match. Our core banking solutions and responsive service strengthen your bank‟s infrastructure, enabling you to deliver best-in-class banking to your customers. II. OBJECTIVES OF THE STUDY 1. To study about the awareness measures that helps customers in banking technology in Chennai city. 2. To know the reasons deciding customer‟s attitude towards banking facilities. 3. To study the various services provided by banks in Chennai district. 4. To identify the factors those influence better understanding about banking technology. Limitation of the Study 1. The study is confined to 112 individuals thus findings may have limited applications. 2. The data collected from the customer are qualitative in nature i.e. views, perception, awareness etc may change from time to time. 3. A comparative study with areas could not be conducted due to time constraint. 4. Pre-judicial attitude of certain people restricts to supply correct information. Review of Literature Vijay M. Kumbhar (2011) in his research paper Factors affecting the Customer awareness in EBanking. This study evaluates major factors (i.e. service quality, brand perception and perceived value)affecting on customers awareness in e-banking service settings. This study also evaluates influence of service quality on brand perception, perceived value and awareness in e-banking. Required data was collected through customers‟ survey. For conducting customers survey like scale based questionnaire was developed after review of literature and

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 discussions with bank managers as well as experts in customer service and marketing. Collected data was analyze using principle component (PCA) using SPSS. Amruth Raj (2013) made a Study on Customer awareness of Commercial Banks. This paper present Customer awareness, a term frequently used in marketing, is a measure of how products and services supplied by a company meet customer expectation. Customer awareness is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified awareness goals VijayPrakash & Agarwal (2013) conducted a research as Comparative Study on Customer awareness in Public Sector and Private Sector Banks in India. This paper gives with the introduction of liberalization policy and RBI's easy norms several private and foreign banks have entered in Indian banking sector which has given birth to cut throat competition amongst banks for acquiring large customer base and market share. Banks have to deal with many customers. Nisha Malik (2013) titled private sector banks service quality and customer awareness to examine the relationship between service quality and customer awareness of two private banks in India. They described as a form of attitude that results from the comparison of prospect with recital argued that customers evaluating the quality of service, compare the service they expect the perceptions of the services they actually receive. Rakesh & Ramya (2014) carried out a study on Factors influencing Consumer Adoption of in India tried to examine the factors influences. Using PLS, a model is successfully proved and it is found that internet banking is influenced by its perceived reliability, Perceived easy of use and Perceived usefulness. Marketing expert should emphasize these benefits its adoption provides and awareness can also be improved to attract consumersâ€&#x; attention to internet banking services. Analysis and Interpretation Anova Analysis Hypothesis Ho: There is no significant difference between educational qualification and awareness about customer security regarding RBI guidelines. H1: There is significant difference between educational qualification and awareness about customer security regarding RBI guidelines. TABLE 1.1: Represents the ANOVA analysis of educational qualification and awareness about customer security regarding RBI guidelines. Interpretation ANOVA Are you aware of RBI's guidelines regarding customer's security in banking ANOVA

Sum of Squares

df

Mean Square

.073

3

.024

Within Groups

24.356

108

.226

Total

24.429

111

Between Groups

F

Sig.

.107 .956

From the above table, the significant value is greater than 0.05 (i.e. 0.956). Hence it is inferred that there is no difference between educational qualification and awareness about customer security regarding RBI guidelines. The results revealed that awareness about RBI guidelines towards customer security does not depend on oneâ€&#x;s educational qualification. So, H0 is accepted and H1 is rejected. Chi-Square Analysis Hypothesis Ho: There is significant association between monthly income and usage of modern type of banking facilities like debit card and internet banking etc. H1: There is no significant association between monthly income and usage of modern type of banking facilities like debit card and internet banking etc.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table 1.2: Represents the Chi square analysis of monthly income and usage of modern type of banking facilities. Monthly income * Which type of modern banking facilities you are using? Cross tabulation Which type of modern banking facilities you are using?

Monthly income

Total

Count

Debit card

Credit card

Internet banking

Mobile banking

below 20,000

15

5

8

6

5

1

40

20,000-40,000

7

6

3

6

2

1

25

40,000-60,000

11

6

5

4

2

3

31

NEFT RTGS

60,000 and above

4

3

3

5

0

1

16

Total

37

20

19

21

9

6

112

Chi-Square Tests Particulars

Value

df

Asymp. Sig. (2-sided)

Pearson Chi-Square

9.383

15

.857

Likelihood Ratio

10.396

15

.794

Linear-by-Linear Association

.139

1

.709

N of Valid Cases

112

Interpretation From the above table, the significant value is greater than 0.05 (i.e.0.857). Hence, it is inferred that there is no significant association between monthly income and usage of modern type of banking facilities like debit card and internet banking etc. Monthly income does not have any impact in usage of modern banking facilities. So, H1 is accepted and H0 is rejected. Hypothesis H0: There is no association between usage of modern banking facilities and their encouraging factors. H1: There is association between usage of modern banking facilities and their encouraging factors. Table 3 Represents the Chi-Square analysis of usage of modern banking facilities and their encouraging factors. Do you have modern banking facility? * What would encourage you to use modern banking? Cross tabulation What would encourage you to use modern banking?

Count

Total

Easy to use Speed Less time consuming Less cost Yes

Do you have modern banking facility?

34

No

Total

30

18

18

100

3

2

5

2

12

37

32

23

20

112

Chi-Square Tests Pearson Chi-Square

3.862

3

.277

Likelihood Ratio

3.397

3

.334

Linear-by-Linear Association

.799

1

.371

N of Valid Cases

112

Interpretation From the above table, the significant value is greater than 0.05 (i.e. 0.277). Hence, it is inferred that there is no significant association between usage of modern banking and their encouraging factors. The result shows that encouraging factors of modern banking does not influence in usage of modern banking facilities. So, H 0 is accepted and H1 is rejected.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Correlation Analysis Table 4 Represents The Relationship Between Comfortable Type Of Banking Facility And Intervals Of Transactions In Their Account. Correlations Which type of At what intervals do banking facility do you make you feel more transactions in your comfortable? account?

particulars Which type of banking facility do Pearson Correlation you feel more comfortable? Sig. (2-tailed) N At what intervals do you make Pearson Correlation transactions in your account? Sig. (2-tailed) N

1

.277 .003

112

112

.277

1

.003 112

112

Interpretation From the above table, the significant value is lesser than 0.05 (i.e.0.003). Hence, it is inferred that there is relationship between favorable type of banking facility and intervals of transactions in their account. The result shows that favorable type of banking facilities influence the rate of intervals of transactions in their account. III. FINDINGS  In ANOVA analysis, the significant value is greater than 0.05 (i.e. 0.956). Hence it is inferred that there is no difference between educational qualification and awareness about customer security regarding RBI guidelines. So, H0 is accepted and H1 is rejected.  In Chisquare analysis, the significant value is greater than 0.05 (i.e.0.857). Hence, it is inferred that there is no significant association between monthly income and usage of modern type of banking facilities like debit card and internet banking etc. Monthly income does not have any impact in usage of modern banking facilities. So, H1 is accepted and H0 is rejected.  In Chisquare analysis, the significant value is greater than 0.05 (i.e. 0.277). Hence, it is inferred that there is no significant association between usage of modern banking and their encouraging factors. The result shows that encouraging factors of modern banking does not influence in usage of modern banking facilities. So, H0 is accepted and H1 is rejected.  In Correlation tests, the significant value is lesser than 0.05 (i.e.0.003). Hence, it is inferred that there is relationship between favorable type of banking facility and intervals of transactions in their account. The result shows that favorable type of banking facilities influence the rate of intervals of transactions in their account. IV. SUGGESTIONS  32.1% of the respondents are unaware about RBI‟S guidelines towards customer security in banking sector. Awareness level should be improved among the customers.  15.2% of the respondents disagreed to change their ATM PIN at regular intervals. Changing of ATM PIN improves the level of safety among the customers. Customers should tend to change their ATM PIN.  There was no association found between customer awareness towards RBI guidelines and safety measure such as changing of ATM PIN. Association should create among these variables. V. CONCLUSION The financial development has an important role in overall development of every nation. This function is done through financial institution. So development in banking sector leads to overall development. Modern banking facilities improve the level of banking sector. Customers should be well enough in their awareness to use modern banking facility. Awareness towards modern banking improves the level of financial transactions. The problem is still obstructing the rural to attain better development in financial sector. Using modern banking facilities increase the speed of financial transaction in the country.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 VI. REFERENCES 1. Vijay M. Kumbhar (2011) “Factors affecting customer awareness in E-Banking” Indian Times, September 30, 2011, p. D-1.2. 2. Amruth Raj (2013) “Customer awareness on Commercial banks”, India. 3. Vijay Prakash and Agarwal (2013) “Comparative study on Customer Awareness in Public Sector and Private Sector Banks in India”, p. D- 1.3 4. Nisha Malik (2013) Private Sector banks Service Quality and Customer Awareness investigation”, International Journal of Bank marketing, Vol 17, No. 7 pp. 324-334.5. 5. Rakesh and Ramya (2014) „E-banking and customer preferences in India: An empirical investigation‟, Information Sciences, Vol 150, No 4, pp 207-217

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON CUSTOMER SATISFACTION OF AIRLINES WITH SPECIAL REFERENCE TO CHENNAI CITY B.VISHAAL MALOLAN Final Year, Department of Accounting & Finance Ramakrishna Mission Vivekananda College, Evening College(Autonomous), Mylapore, Chennai – 600004 ABSTRACT The main purpose of the study is to find out the perception of customers towards Airlines in India. The findings of this study are based on a analysis of a sample of 75 respondents from Chennai city. The study established that there are a number of factors which influence customer satisfaction in the Aviation Industry in India. These factors include : adherence to flight schedule, quality of food and beverages provided, appearance of staff in a neat and tidy manner, in-flight entertainment, good loyalty program. Key words: Airline, Passenger Satisfaction, Service I. INTRODUCTION AND RESEARCH METHODOLOGY The aviation sector is a key contributor to the growth and development, employment of Indian economy and development of trade, commerce and tourism in the country. It is a major economic driver for prosperity, development in any country. Rapidly expanding aviation sector in India handles nearly about 300million passengers across the world in a year and moves 4 million tonnes of cargo through various airlines, using nearly 100 airports in the country and deploying nearly 600 aircrafts. II. OBJECTIVE  To analyse the perception of customers towards Airlines.  To ascertain whether the airlines have to improve their services.  To identify and understand the underlying dominant dimensions of Airline Preference and Customer Satisfaction. Importance of the Study This research study will benefit the airport authority, airline companies (Indian private airlines, Indian government airlines) in evaluating their performance. Passengers would benefit from this study through gaining information that might help them in making their airline preference. Airline companies could have a competitive advantage if they could brand themselves appropriately. This study will hopefully help airline companies and airport authority in developing an effective service. The results of the study will be significant to the airline companies in which the majority passengers belong to and also it enables other airlines to offer better service. It will serve as a guide as how passengers prefer airline and the satisfaction level of passengers will guide the airline companies for their improvement. Data Collection Method Data was collected through a sample survey (questionnaire) method. The questionnaire contains 20 questions (including demographic questions). The five point scale (Strongly agree, Agree, Neutral, Disagree, Strongly Disagree) type questions were also used. Review of Literature A literature review involves the review of the previous study that has been carried out in the reference to same subject.  Mitra (2010) She has given the importance on healthy relationship between customer and the Airline service provider. The Airlines Industry today should aim not only at delivery of the service to the passengers, but they should also focus on satisfying the passengers with the services. They need to know the customer preferences and should bring changes according to that. Then the customer will be satisfied. Some of the private players are very much concerned about their passengers as well as some of them are implementing low price strategy to attract the passengers.  Archana and Subha (2011) They have studied the factors which influence on passenger satisfaction. They have identified the Cuisines provided, seat comfort, safety.These factors have an important role in customer satisfaction. They have also found that customer satisfaction depends on personal entertainment, which is an important factor in flying decisions of a passenger. According to their study online seat booking, call centre facilities and reservation/cancellation is the highest influencing factor in flying decisions of the passengers.  Mahajan and Rau (2010) The researcher extensively emphasis on how customer satisfaction is an important tool in developing the customer satisfaction measures and establishing business processes that link quality with customer

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 satisfaction. In recent years, there has been considerable managerial interest in defining, measuring and developing customer satisfaction to meet the competitive challenges among the industries. Airlines also are suffering from such competition. Airlines must understand that customer satisfaction is what guarantees the future of these companies and it is achieved by an adoption of a comparative tool to minimize discrepancies between their services and passenger’s needs.  Wong and Musa (2011) They found that airline industry hasgone through a fast moving ride for the past few years. One of the main developments in the current aviation industry is the growing popularity of low cost airline with high quality service. The competition between Malaysia airlines and Air Pacific has been cut throat as regards to price factor. Both the airlines have different customer base and hence offers different service experience. It is also notable that difference in providing higher service quality is the main factor to increase or to attract customers towards them. It has been noticed that customers are getting attracted towards the intangible service where monetary value is less than the services being provided.  Zahari,Salleh, Kamaruddin and Kutut (2011)Service quality is the essence of airline companies which makes their image differentiate from others and keep their image in the minds of passengers. Many airlines followed the route of higher service quality through on ground and off ground service. Onboard meal is one of the most important aspects of the airline operation. Nowadays it became a marketing strategy. This research depicts the reaction of customers through in-flight meals to see the satisfying level and re flying intention. Food not only satisfies the onboard customers but also have an effect on flying intention. Data Analysis and Interpretation 1. Chi-Square Test 1 H0: The Departure and Arrival of a flight at the right time do not have any connection with the quality of the food and beverages they provide. H1: The Departure and Arrival of a flight at the right time have connection with the quality of the food and beverages they provide. Table No.1 Value Pearson Chi-Square

df

Asymp. Sig. (2-sided)

16

.007

32.099 16

.010

Linear-by-Linear Association

7.487

.006

N of Valid Cases

75

Likelihood Ratio

33.183

a

1

Interpretation From Table 1 it shows that the significant value is 0.007 which is less than 0.05. Therefore, null hypothesis is rejected and it is concluded that the quality of food and beverage the airline provide depend on the departure and arrival of the flight at the right time. Chi-Square Test 2 H0: Airline having up to date in-flight entertainment facilities has got no connection to their efficient check in and baggage handling services. H1: Airline having up to date in-flight entertainment facilities has got connection to their efficient check in and baggage handling services. Table No.2 Value df Asymp. Sig. (2-sided) Pearson Chi-Square

18.391a 16

.301

Likelihood Ratio

18.052 16

.321

Linear-by-Linear Association 6.930 N of Valid Cases

1

.008

75

Interpretation From Table 2 it shows that the significant value is 0.301 which is greater than 0.05. Therefore, there is no evidence to reject the null hypothesis and it is concluded that the efficient check in and baggage handling process of an airline does not depend upon the airline’s in-flight entertainment facilities.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Correlation Test 1 Table No.3

Airline has a good loyalty program to recognize you as a frequent customer

Airline has a good loyalty program to recognize you as a frequent customer

Airline provide you with the flight delay/reschedule information

1

.333**

Pearson Correlation Sig. (2-tailed)

.004

N Pearson Airline provide you with Correlation the flight delay/reschedule Sig. (2-tailed) information N

75

75

.333**

1

.004 75

75

Interpretation From Table 3 it shows that the correlation between an airline that has got a good loyalty program to recognize you as a frequent customer and if it is able to provide you with the flight delay/reschedule information is 0.333 which is a weak uphill (positive) relationship indicating that if the value of the loyalty program of the airline increases then the value of the flight delay/reschedule of the airline also increases. III. FINDINGS  Nearly 79% of the respondents are male and more than 70% of the respondents belong to the age group between 25-50 and >50. So, this clearly states that this study mainly focus on the working population.  Most of the people prefer only Low Cost Carrier like IndiGo, Spice Jet, Go Air etc. because they provide better connectivity across destinations.  Nearly 75% of the respondents agree that the airlines that they have flown the maximum times has efficient check in process and has better baggage handling services.  Only 42% of the respondents agree that the airlines that they have flown the maximum times provide quality food and beverages. This is because majority of them flew with Low Cost Carriers which doesn’t offer food for free i.e., they don’t include it with the ticket.  Almost 75% of the respondents agree with the fact that their flight departs and arrives at the right time. Only 8% of the respondents don’t agree with it and others are neutral.  Not all of them i.e., the respondents fly regularly. Only a few of them take flights regularly. Most of them who fly regularly are private employees. More than 88% of the respondents have taken less than 10 flights in the last one year. IV. SUGGESTION  New airlines like Vistara and Air Asia India can actually improve their services in order to increase their market share.  Low cost carriers except Air Asia India don’t offer loyalty program to their frequent flying customers. They can actually start that practice as it is there throughout the world.  58% of the respondents have shown dissatisfaction in the quality of food and beverages being served by the airlines. Hence, there is a scope for improvement in this area.  Most people prefer only low cost carriers especially IndiGo. So, all other airlines have got to improve their services in order to make them the most preferable airline among the customers.  Only a few respondents flew more than 10 flights in the last one year which means the others still prefer other modes of transport more than air travel. Therefore there is still a scope for improvement in this area. V. CONCLUSION Thus from the study we have analysed and interpreted the customer satisfaction on airlines based in India and the ways in which they can improve their services. We have also identified who are the ones who take flights regularly and which airlines they prefer. Also, findings reveal that service quality of an airline determines its customer’s patronage. Finally, we have also learnt how to use the SPSS (Statistical Package for the Social Sciences) software and the various statistical tools in the software.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 VI. REFERENCES 1. Bhagyalakshmi Venkatesh and R.Nargrundkar(2006) Service Quality Perceptions of Domestic Airline Consumer in India. 2. Dipa.M(2010)A Comparative Study between Indian Public and Private (Low Cost) Airlines With Respect to their Passenger Service. 3. Ehsan Ahadmotlaghi, Dr.Prafullah Pawar(2012) Analysis of CRM Programs Practiced by Passengers. Airline Industry of India and Its Impact on Customer Satisfaction and Loyalty. 4. Kee Mun,Wong and Ghazali, Musa(2011)Branding Satisfaction in the Airline Industry. 5. Mod Zahari, M.sSalleh,Nk.Kamaruddin, M.S.Y and Kutut, M.Z(2011) In-flight Meals Passenger Level of Satisfaction and Re-flying Intention. 6. MC, D. & Baker, A. (2013). Service Quality and Customer Satisfaction in the Airline Industry: A Comparison between Legacy Airlines and Low-Cost Airlines. 7. Mrs.V.Punitha and Dr.N.Tamilchevli.(2013) A Study on Passenger Satisfaction on the Services Offered by Domestic Airlines with Special Preference to Coimbatore District. 8. Mohammad Naved Khan and Vippan Raj Dutt .(2013). Entrepreneurial Trends in Liberalized Civil Aviation Sector in India: Paradigm Shifts Beyond 1990s. 9. Aligrah Muslim University, S C Bansal Indian Institute of Management. 10. Neha.A., Bishoni K K. & Atary S.(2009). Indian Aviation Industry Issues & Challenges. 11. Rajdeep Grewal, Alka V.Citrin, Murali Chandrashekaran.(2008) Customer Satisfaction Heterogeneity and Shareholder Value. 12. R.Arachana and Dr.M.V.Suba.(2012). A Study On Service Quality and Passenger Satisfaction. 13. Rajesh U. Kanathe. (2012). Challenges of Indian Aviation Industry in chaotic phase. 14. R.Bhuvaneswaran and Dr.D. Vijayarangam. (2013). Service Quality Towards Domestic Airlines and Passenger Perception in Tamil Nadu. 15. Rajesh,S.(2008) Growth in Airline Industry

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

A STUDY ON CUSTOMER SATISFACTION TOWARDS R-JIO WITH SPECIAL REFERENCE TO CHENNAI CITY R.SRIRAM Final Year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College (Evening) College Autonomous, Mylapore Chennai: 600004. ABSTRACT Customer Satisfaction towards Reliance JIO with special reference to Chennai city is carried out with an objective to determine the customer satisfaction & to find out the various factors satisfying the customer when compared to that of other network providers. For distribution of questionnaires to the customers based on convenient sourcing used to collect the data among the customers. It was analysed by using independent t-test, chi-square test and correlation. This study suggests how to improve the network among the customers. Keywords: Customer satisfaction, preference, Reliance jio, data connection facility. I. INTRODUCTION India has become one of the fastest growing economies in the world over the last two decades. In fact, the commendable performance of the Indian economy has placed Indian economy in Goldman Sachs Brics as it could be one of the four most dominant economies by the year 2050. One of the striking aspects of India’s recent growth has been the dynamism of the service sector. In line with the global trend the service sector in India continues to move on the higher growth trajectory to emerge as the leading service hub of the world. As India surges forward as one of the fastest growing economies in the world, its vibrant service sector is fast evolving as one or the most spectacular by-products of ongoing resurgence in the country’s economic growth. According to recent strategic research by Frost & Sullivan, Indian Cellular Services Market, such growth rates can be greatly attributed to the drastically falling price of mobile handsets, with price playing a fundamental role in Indian subscriber requirements. Subscribers in certain regions can acquire the handset at almost no cost, thanks to the mass-market stage these technologies have reached internationally. The Indian consumer can buy a handset for $150 or less. This should lead to increased subscribership. This market is growing at an extremely fast pace and so is the competition between the mobile service providers. With the presence of a number of mobile telephony services providers including market leaders like Airtel, Reliance, Idea Cellular, BSNL etc. who are providing either of the two network technologies such as Global System for Mobile Communications (GSM) and Code Division Multiple Access (CDMA). In cellular service there are two main competing network technologies: Global System for Mobile Communications (GSM) and Code Division Multiple Access (CDMA). Understanding the difference between GSM and CDMA will allow the user to choose the preferable network technology for his needs. II. OBJECTIVES OF THE STUDY  To study the customer satisfaction level on the services provided by R-JIO communication.  To study the customer preference towards R-JIO communication compared to that of other networks.  To find the awareness about various services provided by R-JIO. Research Problem Reliance Jio has entered into the market of telecom service providers with freebies and more data to the customers. In the knowledge world, Jio’s the foray into the fast evolving market has made tremendous change in the competition, price and data availability. Jio is widely used by the techno-savvy customers. The customer satisfaction is conditioned by the price, availability and addressing the problems of the customers at once. The rural area customers also use Reliance Jio. Even though the sector has reflected promising growth in India but still remaining at a very low compared with international standards and this providing tremendous opportunity for future growth in Tele-communication services. So Reliance Jio improves the network connection and speed in rural area. Limitations of the Study The study will be performed on a primary data basis with information being collected from questionnaire  The following are the limitations to the study:  The sample area is restricted to Chennai city.  The sample size is restricted to 100 people.  The findings of the study has been limited to the respondents disclosure on the questionnaire provided, thus may not provide an accurate outcome.  Time constraint is a factor that may have affected the study.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Research Methodology The main source of data for the study is Primary Data. Although secondary data is used to supplement the primary data. Secondary data was collected from journals, magazines, relevant research articles on customer satisfaction, article, thesis etc. Primary data was gathered from customers of JIO by preparing a structured questionnaire. Convenience sampling method is used to collect the data from the respondents. Structured questionnaire is prepared which consists of the statements related to various aspects of services provided by JIO such as messages, voice calls, 4G internets etc. The sample size is of 100 respondents from the state of Tamil Nadu and mainly from the city of Chennai. For analysing the data SPSS 16 is used, various statistical tools such as mean, standard deviation, frequency, independent sample t test are applied to analyse the collected data. Review of Literature S. Nemat sheereen studied on customer satisfaction of BSNL services in Kerala. It has been stated that BSNL is one of the leading telecommunication service providers in Kerala. Most of the studies conducted in this area indicates the exploring development of services provided by number telecommunication providers which open new world to the customer around the world. This study analyses the customer satisfaction of BSNL services provided in Kerala. Quality of service and maximum network coverage are the most important factor which satisfies the customers in relation to telecommunication. (P. Vijay, 2016), examined Customer preferences towards the mobile network service provider – A study with the special reference to Coimbatore city. Their study exposed that the majority of the respondents have given top preferences to Airtel and least preferences to Aircel in preferring the network service providers. Their study also revealed that their respondents had given top preferences to service quality, Value added services in preferring the network service providers. (Chakraborty, 2013), examined Customer satisfaction and expectation towards Aircel, A research conducted in West Midnapore. His study revealed that there is a big scope of further penetrating into the current market scenario by more innovative marketing strategies. His study also revealed that, the people has less awareness towards the usefulness of VAS, WAP, etc. Data Analysis and Interpretations Testing the hypothesis for satisfaction rate and mobile services offered by R-JIO. Null hypothesis (H0) There is no significant difference between satisfaction rate and mobile services offered by R-JIO. Alternate hypothesis (H1) There is significant difference between satisfaction rate and mobile services offered by R-JIO. Independent t-test The independent t-test, also called the two-samplet-test, independent-samples t-test or student's t-test is an inferential statistical test that determines whether there is a statistically significant difference between the means in two unrelated groups. Table 1 Std. Your overall satisfaction N Mean Std. Error Mean Deviation highly satisfied 21 2.62 1.465 .320 satisfied

58

2.21

1.308

.172

Levene's Test for Equality of Variances F 1.234

.270

Sig. t 1.198 1.135

df 77

Sig. (2-tailed) .235

32.259

.265

Interpretation The above ( Table 1) shows sample t-test results indicate that null hypothesis should be accepted as a significance level of the variable is greater than 0.05. This result shows that there is no significant difference between satisfaction rate and mobile services offered by R-JIO. Testing the hypothesis for usage of other networks and R-JIO services. Null hypothesis (H0) There is no relationship between usage of other networks and R-JIO services. Alternate hypothesis (H1) There is a relationship between usage of other networks and R-JIO services.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table: 2 Before using R-JIO services whether you used any other services * if yes please specify which company services you opted for Cross Tabulation Airtel Vodofone BSNL others Before using R-JIO services whether you used any other services

yes

47

24

9

8

88

no

2

1

0

2

5

Total 49 25 9 10 93 Correlation analysis on usage of other networks and R-JIO services. Value Asymp. Std. Error Approx. Tb Approx. Sig. Interval by Interval Pearson’s R

.146

.139

1.408

.162

Ordinal by Ordinal Spearman Correlation .105

.121

1.008

.316

N of Valid Cases

93

Interpretation The above Table 2 shows the value of correlation and significance level between two variables. It is clear from the table that significant value is above 0.05. Hence null hypothesis is accepted and it id inferred that there is no relationship between usage of other networks and R-JIO services. Testing the hypothesis for usage of other networks and R-JIO services. Null hypothesis (H0) There is no association between usage of other networks and R-JIO services. Alternate hypothesis (H1) There is strong association between usage of other networks and R-JIO services. Table:3 Before using R-JIO services whether you used any other services * if yes please specify which company services you opted for Cross Tabulation Airtel

Vodofone

BSNL others

before using R-JIO services whether yes you used any other services no

47

24

9

8

88

2

1

0

2

5

Total

49

25

9

10

93

Chi-Square Tests Value

df

Asymp. Sig. (2-sided)

Pearson Chi-Square

4.970a

3

.174

Likelihood Ratio

3.841

3

.279

Linear-by-Linear Association

1.963

1

.161

N of Valid Cases

93

Interpretation The above Table 3 shows that value of chi-square and its significant level. From the table it is clear that there is no association between usage of other networks and R-JIO services as the significant value is greater than 0.05 between the two variables. Testing the hypothesis for network coverage and customer care responses Null hypothesis (H0) There is no relationship between network coverage and customer care responses. Alternate hypothesis (H1) There is a relationship between network coverage and customer care responses.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Correlation analysis on network coverage and customer care responses Table:4 Network coverage * Customer Care Responses Cross Tabulation highly satisfied satisfied Network coverage

Highly satisfied

neutral

unsatisfied

11

10

5

0

26

Satisfied

5

22

18

2

47

Neutral

0

9

11

0

20

Unsatisfied

0

3

1

2

6

Highly Unsatisfied

0

0

1

0

1

16

44

36

4

100

Total

Value Asymp. Std. Errora Approx. Tb Approx. Sig. Interval by Interval Pearson's R

.401

.082

4.329

.000

Ordinal by Ordinal Spearman Correlation .392

.086

4.218

.000

N of Valid Cases

100

Interpretation The above Table 4 shows the value of correlation and significance level between two variables. It is clear from the table that significant value is above 0.05. Hence null hypothesis is rejected and it is inferred that there is relationship between network coverage and customer care responses. III. FINDINGS  From the above table it clearly shows that null hypothesis is accepted therefore customer satisfaction is not the affecting factor on mobile services opted by R-JIO. Even though the customer will not get satisfied on this factor.  The above table shows the value of correlation and significance level between two variables. So the customers are changing over from many services to R-JIO because it offers various effective plans.  The above table shows that value of chi-square and its significant level. From the table it is clear that there is no association between usage of other networks and R-JIO services as the significant value is greater than 0.05 between the two variables.  The above table shows the value of correlation and significance level between two variables. It is clear from the table that significant value is above 0.05. Hence null hypothesis is rejected and it is inferred that there is relationship between network coverage and customer care responses. IV. SUGGESTION  In today’s era the Reliance JIO must focus on rural areas to get the people attention and gather the rural people interest. Because most of rural people are not having the knowledge about Reliance JIO. Spread out the awareness about Reliance JIO in deep rural areas. Replenish the products on Retailer’s shop on right time, where it is lacking. Remove (exterminate) the problem of calling congestion & call drop.  Make the advertisement of Reliance JIO by putting hoardings, boards, posters, and neon (electric) sign boards in every areas. Get the feedback from existing customers about Reliance JIO and take the reference for making new customers. We should try building a good relationship with all retailers, praise, recognition & honour on several occasions for our retailers would help a lot.  The customer care people and also employees in Reliance JIO should try to convey brand Reliance JIO while talking to people. Enhance the market penetration & shares in every market and give the high competition to others company. V. CONCLUSION VProviding customer satisfaction is the most crucial step of the company as they are to be satisfied and provides Internet access on the move such as Wide network coverage and good 4G services as they are important and technology advanced stuff required by almost everybody in today’s environment. Reliance JIO is a home brand company and a very emerging brand in India and will be successful in overseas market in upcoming years. It possesses congestion free & wide network, attractive 4G schemes & customer services to cover one of the widest areas. From the details it can be concluded that 80% of Reliance JIO users preferred to remain with Reliance JIO and fully satisfied. Also good number of customers who are willing to switch from their respective subscribers showed interest in Reliance JIO. Reliance JIO is capturing the wide area of Indian

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 markets increasingly day by day. Hence, these statistics imply a bright future for the company. It can be said that in near future, the company will be booming in the telecom industry. VI. REFERENCES 1. Impact of reliance Jio on Indian telcom industry ISSN (ONLINE): 2250-0758, ISSN (PRINT): 23946962 Volume-7, Issue-3, May-June 2017International Journal of Engineering and Management Research Page Number: 259-263. 2. The impact of Reliance Jio on Indian mobile industry-A case study on mergers and acquisitions of idea –Vodafone and Airtel – TelenorD Satyanarayana, Dr K Sambasiva Rao and Dr S Krishnamurthy Naidu. 3. https://en.wikipedia.org/wiki/List_of_telecom_companies_in_India 4. Ashutosh Mishra, Mratyunjay Singh, Dr. ArvindMittal, Prof. ArchanaSoni, Comparative Study on Major Telecom Service Providers in India, IOSR Journal of Electronics and Communication Engineering.Volume10, Issue 3, pp 62-66,2015. 5. Debarun Chakraborty, Customer Satisfaction And Expectation Towards Aircel: A research Conducted In West Midnapore, International Monthly Refereed journal of research In Management & Technology, Volume II, pp 114 – 127, January 2013. 6. https://www.researchgate.net/publication/309618899An Empirical Study on Reliance JIO Effect, Competitor's Reaction and Customer Perception on the JIO'S Pre-Launch Offer by Pawan Kalyani, MRES

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OUTREACH OF EXPERIENTIAL MARKETING IN INDIA A STUDY WITH SPECIAL REFERENCE TO CHENNAI CITY J. ABHILASH Final Year, Department of Accounting & Finance Ramakrishna Mission Vivekananda College, Evening College (Autonomous), Mylapore, Chennai- 600 004 ABSTRACT To understand the motives of consumers and study the role of consumer perceptions and their effect on the relationship between brand experience and brand equity. With the market competition intensified, traditional marketing has become very difficult to achieve the expected goal of the enterprise. Since, old conventional styles of marketing have reduced its effect on consumers and Indian consumers showing a preference for modern formats for shopping environment, new marketing theories such as experiential marketing has become necessary to capture eyes of consumers. In this paper, the sales of branded items have been considered for which 75 questionnaires analyse the relationship between experiential marketing and brand equity to review the motives of consumers & study the role of customer perceptions and their effect on the relationship between brand experience and brand equity. Key words: Experiential marketing, brand experience, brand experience, brand equity, customers, shopping environment. I. INTRODUCTION American future scientist Alvin Toffler has predicted that the next step in the service economy is to experience economy, people will create more experiences related to marketing activities and business will rely on providing experience services to win. In a world where consumers are provided with enumerable options, brands are considered as important factors affecting the consumer‟s choice. In the beginning of the 19 th century, brand management emerged as a discipline as attributable to factors such as improved distribution channels, large scale production opportunities, improvements in possibilities for differentiating products and services by means of packaging, better opportunities for protecting brands, more advertising, rise of department stores, etc. Economic model gradually changed from the scarce in the past to the strong in the present. Holbrook and Hirscman (1982) are most commonly credited for being the first to bring in the experiential perspective of consumer behaviour and marketing. Companies focusing on the needs of consumers develop personalised marketing programs, in order to enhance the consumer experience, So experiential marketing forms the inevitable trend of development in 21st century. Review of earlier studies Experiential marketing means that the enterprise in the marketing and sales process provides customers the points to meet their needs, so as to attract customers, so that customers feel pleasure in the sales process, in order to increase the probability of turnover and reduce difficulties faced by customers by providing additional services, thereby enhancing the competitiveness of enterprises, form the difference between different enterprises‟ competition, deepen customer‟s memory regarding the brand identity of the product and improve customer loyalty. James H. Gilmore and Joseph Pine II (Strategy & Leadership – Journal, 2002)- Customer experience places: The new offering frontier, felt that marketing flounders at many companies today, as people have become relatively immune to messages broadcast at them. The way to reach customers is to create an experience they can participate in and enjoy the new offering frontier. The authors further claimed that companies should not stop at creating just one experience place and marketers should investigate the location hierarchy model in order to learn to design a series of related experiences that flow one from another, creating demand up and down at every level. Patrick McCole (Marketing Intelligence & Planning, 2004)- Refocusing marketing to reflect practice: The changing role of marketing for business, presented a conceptual discussion concerning the academic or practitioner divide in marketing. He stated that the marketing concept and the way we teach marketing needs to be refocused to reflect practice. He presented two new developments in marketing that are ideal candidates for narrowing the gap between academia and practice. The two developments underlining the importance of differentiation were retro‐ marketing and experiential marketing. Natalia Vila-Lopez and MaCarmen Rodriguez-Molina (Industrial Management & Data Systems, 2013)Event brand transfer in an entertainment service: Experiential marketing advocated that one of the channels a brand can use to create experiences is events. The brand promoting the event and its sponsors can obtain various benefits in the form of brand image, personality and notoriety. The main aim of this research is to evaluate the effects that experiencing an event has on experience with the promoting brand. Regarding event experience antecedents, “immersion” has been identified as the most important one and brand experience as an important effect. Also, brand experience has been found to have a positive impact on exciting brand personality and exciting brand personality in turn on brand reputation.

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Synthesis of review of earlier studies The authors believe that experiential marketing needs to have a clear theme and a suitable brand experience since the new experiential marketing is different and stands a different place than traditional marketing methods in the minds of the customers. The traditional marketing theory is a process of attempting to understand the customer with the thinking of a common man. Experiential marketing concept and the way we teach marketing needs to be refocused to reflect practice. It is also understood that the only best way to reach a customer is to create an experience they can participate and enjoy the new offering frontier. Companies should not stop creating such marketing experiences for customers and marketers should keep investigating the demographic locations in order to learn to design a series of related experiences that flow one from another, creating demand up and down at every level. Experiential marketing for a social cause in India A two-minute video on the campaign that has done viral captures the execution. The video starts with guests of the bar getting into their cars getting shocked as they find the uninvited guest in their cars. Replete with bloodshot eyes, ornaments and a big moustache and mace, „Yamraaj‟ scares the life out of the revellers – almost. The film captures reactions of screaming guests and urges them to „Drink and Get Driven‟. The idea was to give people a wake-up call with this activation/experiential idea with a spin at the end of it – Drink and Get Driven. Research methodology In order to understand the outreach of experiential marketing in India with special reference to Chennai city, a questionnaire was specifically designed about the preferences of brands, extent to which brand value was considered while buying a product, sources of information about brands, awareness of experiential marketing, if experiencing a product or service is preferred and if they prefer online shopping or retail physical shopping. A total of 75 questionnaires were distributed and 75 valid questionnaires were recovered and the effective questionnaires were 100%. Convenient sampling method has been adopted for the following research. This is a primary research made to ascertain the outreach of experiential marketing in India and its understand its relationship with brand equity. The research findings are arrived on the basis of the sampling technique employed by collecting data from a varied set of individuals through a structured questionnaire. Therefore, the research tools used to analyse the data include Percentage Analysis. Table 1 Brand preference Frequency Percentage (%) Quality of products and services 59 79% Variety of products & services 4 5% Reputation of the brand 7 9% Recommended by friends/family 3 4% Attractive advertising & offers 2 3% Total 75 100% Brand information Frequency Percentage (%) Ads in social media 19 25% Friends/Relatives 22 29% Brochures/Pamphlets 2 3% Television ads 20 27% Personal selling 6 8% Newspaper ads 3 4% Sponsorship/Ad campaigns 3 4% Total 75 100% Showroom visitation Frequency Percentage (%) Frequently 14 19% Regularly 15 20% Rarely 40 53% Seldom 6 8% Total 75 100% Campaigns and Programs Frequency Percentage (%) Frequently 11 15% Regularly 12 16% Rarely 38 50% Seldom 5 7% Almost daily 9 12% Total 75 100%

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Preference on online shopping Lesser variety of products in stores Easier payments & cost efficiency Avoids painstaking travel Prevents time consumption Others Total Preference on physical shopping Suggestive salespeople Feel the products before buying Assured quality, size and other physical aspects Ambience of the store Variety of products available in the store To show people you are buying a branded product Total

182

Frequency 13 16 5 37 4 75 Frequency 4 36 22 7 4 2 75

Percentage (%) 17% 22% 7% 49% 5% 100% Percentage 6% 47% 29% 9% 6% 3% 100%

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

Marketing strategies and suggestions To sum up, experiential marketing has an important guiding significance by enhancing the imaging brand equity in minds of the younger generation who are going to be the future pillars of the Indian economy. Firstly, increase awareness of brands through better focused experiential marketing techniques for people aged above 25 years and find the needs of customers to develop personalised marketing programs. Secondly, increase awareness amongst people who aren‟t educated enough because 50% of India‟s economy comes from the unorganised sector and the unorganised workforce employs more than 90% of our workforce. Thirdly, enrich product details and brand awareness amongst salaried people more than self-employed people and professionals since the income levels are significantly found to be lower for salaried people. Fourthly, increase techniques of experiential marketing at retail locations since 90% of total world sales for products is through physical markets and only 10% is from online sales. Fifthly, increase awareness through experiential marketing for students and salaried people (employees) since these people constitute for majority of online sales. II. CONCLUSION It is identified from the study that Experiential Marketing is a very effective tool to attract, retain and widen the consumer base for any product or Brand in particular. The experience of the consumer with the Brand, the experience of the consumer with the product and the association of the same with his senses creates an emotional attachment between the Brand and the Consumer, thereby resulting in a stronger relationship between the Experiential Factors and Brand Equity. From this research, it is concluded that people prefer to experience the products as they grow in terms of age, income scale and the social status earned through them. The Brand is an aspiration for the low-income categories and people aged less than 25 years, and it is a prestigious identity for high-income categories, highly educated people and professionals. Further, it is also understood that concepts like Product Experience, Service Experience, Consumer Experience and Brand Experience are already established in India by maintaining high Brand Equity and various aspects of Physical Shopping. Yet, there is a wide scope for Engaging and Live events that can be conducted to help the consumers in experiencing the Products, Services and Brands, all individually or everything put together. With the increasing sports arenas and entertainment avenues, more and more Brands are making use of them to reach out to the consumers through Sponsorships, Ad-Campaigns and Rallies among others. III. REFERENCES 1. James H. Gilmore, B. Joseph Pine II, (2002) "Customer experience places: the new offering frontier", Strategy & Leadership, Volume 30 Issue: 4, Pages: 4-11. 2. Patrick McCole, (2004) "Refocusing marketing to reflect practice: The changing role of marketing for business", Marketing Intelligence & Planning, Volume 22 Issue: 5, Pages: 531-539. 3. (2008) "Experiential marketing: Advice on the potential and pitfalls of a growing trend", Strategic Direction, Vol. 24 Issue: 10, pp.24-26. 4. Tony Conway, Debra Leighton, (2012) "“Staging the past, enacting the present”: Experiential marketing in the performing arts and heritage sectors", Arts Marketing: An International Journal, Volume 2, Pages: 35-51. 5. Hueiju Yu, Hsien‐ Tang Ko, (2012) "Integrating Kano model with strategic experiential modules in developing ICT‐ enabled services: An empirical study", Management Decision, Volume 50 Issue: 1, Pages: 7-20. 6. Emma Björner, Per Olof Berg, (2012) "Strategic creation of experiences at Shanghai World Expo: a practice of communification", International Journal of Event and Festival Management, Volume 3 Issue: 1, Pages: 30-45. 7. Natalia Vila‐ López, MaCarmen Rodríguez‐ Molina, (2013) "Event‐ brand transfer in an entertainment service: experiential marketing", Industrial Management & Data Systems, Volume 113 Issue: 5, Pages: 712-731. 8. Bernd Schmit, Lia Zarantonello, (2013), Consumer Experience and Experiential Marketing: A Critical Review, Review of Marketing Research (Review of Marketing Research, Volume 10) Emerald Group Publishing Limited, Pages: 25 – 61. 9. Cherng G. Ding, Timmy H. Tseng, (2015) "On the relationships among brand experience, hedonic emotions, and brand equity", European Journal of Marketing, Volume 49 Issue: 7/8, Pages: 994-1015. 10. Sankalp Pratap, Agam Gupta, Arqum Mateen, Kavita Mahto, (2016) "Playing games, receiving gifts, creating experiences and building brands", Marketing Intelligence & Planning, Volume 34 Issue: 4, Pages: 486-503.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 11. B. Joseph Pine II, James Gilmore, (2016) "Integrating experiences into your business model: five approaches", Strategy & Leadership, Volume 44 Issue: 1, Pages: 3-10. 12. Rachel Dodds, Lee Jolliffe, (2016), Experiential Tourism: Creating and Marketing Tourism Attraction Experiences, The Handbook of Managing and Marketing Tourism Experiences, Pages: 113 – 129. 13. Lea Iaia, Amedeo Maizza, Monica Fait, Paola Scorrano, (2016) "Origin based agro-food products: how to communicate their experiential value online?” British Food Journal, Volume 118 Issue: 8, Pages: 1845-1856. 14. Seonjeong Ally Lee, Miyoung Jeong, Myunghee Mindy Jeon, (2016) "Effects of experiential stimuli on customers‟ responses: An example of bed and breakfast websites", Journal of Hospitality and Tourism Technology, Volume 7 Issue: 4, Pages: 390-404. 15. Wondwesen Tafesse, (2016) "An experiential model of consumer engagement in social media", Journal of Product & Brand Management, Volume 25 Issue: 5, Pages: 424-434

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

COMPARATIVE STUDY BETWEEN AUTHORIZED SERVICE CENTERS AND LOCAL WORKSHOPS FOR MOTORCYCLES WITH SPECIAL REFERENCE TO CHENNAI CITY S. SAIVIGNESH Final Year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College, (Evening college) (Autonomous) Mylapore, Chennai- 600004 ABSTRACT The study is conducted with the objective of finding out the consumers’ preference among Authorized dealers and Local workshops. As per the reports, the two wheeler industry had a major growth in India. New companies have entered India such as Ducati, Triumph, KTM which cannot be seen anywhere in the previous years. Many showrooms have been opened by the exotic vehicles manufacturers in Chennai in the past few years. To meet out the demand for service for consumers, Authorized dealers establishment have been set up by the respective companies around the city. Local workshops have also increased in time as people found it to be profitable since everyone nowadays own a motorcycle. Frequencies, Chi-square tests have been conducted to find the reliability of both dealerships. Keywords: Authorized service center, Local workshops, Customer preference. I. INTRODUCTION Service quality has been defined as the degree and direction between customer service expectations and perceptions (Newman, 2001). Perceived service quality is defined as the evaluation of the service across the episodes when compared to some explicit or implicit standard (Storbacka et al., 1994). Further, it can be seen as how well a service satisfies the expectations of customers (Bouman & Van Der, 1992). A motorcycle, often called a bike, motorbike, or cycle, is a two- or three-wheeled motor vehicle. Motorcycle design varies greatly to suit a range of different purposes: long distance travel, commuting, cruising, sport including racing, and off-road riding. Today, in the 21stcentury, Indian motorcycle industry and Japanese motorcycle companies are dominating the motorcycle industry. Over 20million units have been sold in the last fiscal year owing to 13% humongous growth, as per the reports. Ever since the motorcycle was invented maintenance is one of the important aspect of a motorcycle. Service of the motorcycle is done at intervals to keep the motor and other parts in check and to ensure smooth running. It is done to extend the efficiency of the motorcycle. An auto mechanic (also automotive technician or motor mechanic) is a mechanic with a variety of automobile makes or either in a specific area or in a specific make of automobile. In repairing motorcycle, their main role is to diagnose the problem accurately and quickly. Automobile repair workshops have two major types that are independently owned and operated businesses. There are also automotive repair shops that specialize in vehicle modifications and customization. Oftentimes, various specialized auto repair shops will have varied infrastructure and facilities (for specific jobs or vehicles), as well as technicians and mechanics with different qualifications. . Due to the increasingly labyrinthine nature of the technology that is now incorporated into automobiles, most automobile dealership, that is, authorized service dealer and independent workshops (Local service dealers) now provide sophisticated diagnostic computers to each technician, without which they would be unable to diagnose or repair a vehicle. II. OBJECTIVE OF THE STUDY The main objective is to provide the users of this study, 1. To know the customer’ preference. 2. To find the reason for customers’ preference. 3. To measure the quality of work done by the service dealers from consumer’s point of view. 4. To find out the associations and variations between two variables Statement of the Problem As close to 2.01 crores vehicles sold all over India in the last fiscal year and a reasonably huge number of units comes from Chennai, it is necessary to provide service for the vehicles bought and owned by the consumers. The whole world is full of choices. When it comes to motorcycles, there arises a question of where to service the motorcycle. Thus, this study helps the customers to be aware about comparison between Authorized service centers and Local workshop.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Review of Literature 1. Sajeeb Kumar Shrestha, Teaching Assistant, M.B.S., M.Phil., Shanker Dev Campus Tribhuvan University,2011. Service quality is based on certain dimensions such as reliability, responsiveness, empathy, tangibles. He has also used the SERVQUAL model (GAP model) to arrive at the conclusion. Service must be continuous and new technologies, innovations and strategies should be made from time to time to maintain the level of quality of service. 2. Ms.R.Suriya, Ms.P.Vinotha, Ms.M.Ganga, April 2015. In a competitive marketplace where business competes for customers, customer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy. They considered Quality as a strategic tool for attaining operational efficiency and improvement for business performance. 3. Arvindakarthik K S, Mohan Kumar K K, Gokul Sangar E, November 2015. It was established that quality is conforming to requirements, organizations must establish requirements and specifications. It can be concluded that the ability of designing services upon customer satisfaction make this approach a powerful tool for service sectors. 4. Mohammed Shahed Hossain, Arnob zahid, Rubaya jafrin, September 2017. It is observed that three important factors play a negative role in improving the service quality though the automobile industry showed a rapid growth. Those were price, personnel’s ability and rework. Competitive pricing should be between the authorized and unauthorized. Rework is the main cause of dissatisfaction. Rework would curb customer’s confidence and loyalty. Research Hypothesis Chi-Square Tests Ho - There is no relationship between Occupation and Consumer Preference. H1 - There is relationship between Occupation and Consumer Preference. Table No. 1 Value

Df

Asymp. Sig. (2-sided)

Pearson Chi-Square

2.093

a

4

.719

Likelihood Ratio

2.091

4

.719

Linear-by-Linear Association

.018

1

.893

N of Valid Cases

100

a. 6 cells (60.0%) have expected count less than 5. The minimum expected count is .78. Result From the above table 1, The significant value is greater than 0.05 i.e., 0.719. Hence, it is inferred that there is no association between two variables. So, Ho (Null Hypothesis) is accepted. Ho - There is no relationship between Monthly Income and Consumer Preference. H1 - There is relationship between Monthly Income and Consumer Preference. Table No. 2 Value

df

Asymp. Sig. (2-sided)

Pearson Chi-Square

2.161

a

4

.706

Likelihood Ratio

2.252

4

.690

Linear-by-Linear Association

.151

1

.697

N of Valid Cases

100

a. 4 cells (40.0%) have expected count less than 5. The minimum expected count is 1.82. Result From the above table 2, It is clear that the significant value is greater than 0.05 i.e., 0.706. Hence, it is inferred that there is no association between two variables. So, Ho (Null Hypothesis) is accepted.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Oneway Anova 1. Ho - There is no difference between Monthly Income and Service cost. H1 - There is difference between Monthly income and Service cost. Table No. 3 Cost Limit

Sum of Squares

df Mean Square F

Between Groups

1.132

4

.283

Within Groups

53.808

95

.566

54.940

99

Total

Sig.

.500 .736

Result From the above table 3, it is clear that significant value is greater than 0.05 i.e., 0.736. Hence, it is inferred that there is no difference between two variables. Hence, Ho (Null Hypothesis) is accepted. Ho - There is no difference between type of motorcycle and more problems arising in future. H1 - There is difference between type of motorcycle and more problems arising in future. Table No. 4 Future Problem Sum of Squares df Mean Square Between Groups

2.042

2

1.021

Within Groups

60.958

97

.628

63.000

99

Total

F

Sig.

1.625 .202

Result From the above table 4, the significant value is greater than 0.05 i.e., 0.202. Hence, it is inferred that there isno difference between two variables. The two variables are Problems arising in future due to improper service and Type of motorcycle. Hence, Ho (Null Hypothesis) is accepted. III. FINDINGS 1. Majority of the respondents have no income. 2. Majority of the respondents own Bike, followed by Scooter and Superbike. 3. Majority of the respondents ride between 0 and 1500kms, followed by 1500-3000kms and 3000kms and above per month 4. Majority service their motorcycles 3months once and 6months once. Only a few service 9months once. 5. Majority feel the quality of service is fair and excellent in Authorized Service Center. 6. Majority of the respondents feel the quality is satisfactory in local workshop. 7. At Authorized service center, the respondents feel that the service is completed on time than in Local workshop since reasonable number of respondents feel Authorized centers lack special attention to each motorcycle. 8. The service cost is usually within the estimate given in both places. 9. Majority of the respondents have agreed to the statement that the service cost in Authorized Service Center is higher than in Local Workshop. 10. Most of the respondents are neutral to the statement about the service quality in Authorized center is better than Local workshop. Hence, both places provide their best. 11. Majority of the prefer Authorized Service Center than Local Workshop due to various reasons. 12. It is found that two variables, that is, occupation and preference on which center to choose for service are not associated with each other and do not have a significant relationship. 13. Monthly income and customer’s preference on where to service their motorcycle do not have significant relationship and one does not influence the other. Even if people have less income, they want to get the best for their motorcycle and are willing to spend more. IV. SUGGESTIONS It is suggested that the Authorized Service maintains this reputation by providing their best on the future days. Coming to the point where customers do not prefer Authorized Center, it is majorly due to high service cost and lack of special attention to individual motorcycle. It is suggested that the Authorized dealer increase their manpower to meet with the demands of the customers and increase special care to each motorcycle. Parts and accessories can be bought in wholesale to reduce cost as most of the respondents feel the service cost is high.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 The major reason as to why most people don’t prefer Local Workshop is the fear of loss. The possibility and probability of parts getting robbed is high as per the response given by the respondents. Majority of the respondents feel that local workshops use second hand motorcycle parts to keep the cost low. It is suggested that local workshops need to make some changes in the way of handling the business. It is also suggested that consumers should consult their friends and neighbours before approaching a Local workshop, just to be sure. By standardizing and maintaining bills, the usage of second hand parts can be curbed. This may create a positive attitude towards the local workshops among the customers. V. CONCLUSION The Frequency Analysis, Chi-Square tests, One-way ANOVA are carried out to find the utmost accurate results about the Authorized Centers and Local workshops for motorcycles. This study was conducted to compare the associations and variations of various factors such as Service Quality, Time, Issues, Satisfaction, Preference of Authorized Service centers and Local workshops. It is significantly visible from the study that people prefer Authorized Center because of the fear of loss and it is standardized. It also has its own set of rules and regulations. Local Workshops, on the other hand, are not standardized and the standards change according to the mindset of the mechanic who runs the workshop. People are afraid that the mechanic would be inexperienced and would not possess the knowledge about the new technology of the upcoming motorcycles. People would prefer workshops for minor jobs such as Puncture, etc. People seek them only at the time of emergency since the Local workshops have flexible business hours. As mentioned in the suggestions, increasing the Authorized establishments would find a way to decrease the cost. VI. REFERENCES 1. R. Suriya, P. Vinotha, M. Ganga, Assistant Professors, Department of Management studies, G.S Pillay Engineering college, Nagapattinam – 611002. International Journal of Scientific and Research Publications, Volume 5, Issue 4, April 2015. 2. Arvindakarthik KS, Mohan Kumar KK, Gokul Sangar E, Department of Aeronautical Engineering, Sri Ramakrishna Engineering College, Coimbatore-641030, Tamil Nadu, India. International Journal of Science and Research, Voluma 4, Issue 11, November 2015. 3. Sajeeb Kumar Shrestha, Teaching Assistant, M.B.S., M.Phil., Shanker Dev Campus tribuvan University, 2011. 4. Hossain, Mohammed Shahed & Arnob Zahid & Rubaya Jafrin, International Conference on Business and Management, September 2017. 5. https://www.academia.edu/9996565/A_Review_on_Service_Quality_Dimensions 6. https://www.researchgate.net/publication/320271596_Improvement_of_Service_Quality_at_Automobile_ Workshop_in_Bangladesh 7. https://www.ijsr.net/archive/v4i11/NOV151210.pdf 8. http://www.ijsrp.org/research-paper-0415/ijsrp-p40127.pdf -

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SERVICE QUALITY & SATISFACTION TOWARDS HOSPITAL INDUSTRIES A STUDY WITH SPECIAL REFERENCE TO PRIVATE & GOVERNMENT HOSPITALS IN CHENNAI CITY AASHISH MADHUKAR B.Com Student, Dept of A&F, RKM Vivekananda College (Evening)(Autonomous) , Mylapore, Chennai – 04, ABSTRACT Defining and measuring the quality of service has been a major challenge for health care industries. The major objectives of this study is to understand the preference of hospitals among people in Chennai, to analyse reasons for preference of private hospitals over public hospitals and finally to examine the level of customer satisfaction from hospitals in Chennai city. This survey was conducted by designing a structured Questionnaire. The data used for analysis in this research is both Primary Data and Secondary Data. The data was collected from 100 respondents. From the analysis, the study found that 31% of the respondents prefer to get treated from Private Hospitals and another 31% of the respondents prefer to get treated from Government Hospitals, citing Quality of Treatment as the main reason for choosing Private Hospitals. Keywords: Quality of Service, Customer Satisfaction, Private Hospital, Government Hospital I. INTRODUCTION In recent years, there has been increasing interest in hospital services, as standards of living have changed and there is a demand for better medical care to improve lifestyles. Improving the quality of medical care services has become a primary concern for patients, and, in order to provide better service to patients, service quality has become increasingly important for hospitals in respect of satisfying and retaining patients. Understanding the patients evaluation of hospital service quality performance will improve the existing health care system outcome and enhance service quality, consequently, the number of satisfied inpatients increases and patients will continue to visit their hospitals. Healthcare in Chennai is provided by both government – run and private hospitals. Chennai attracts about 45 percent of health tourists from abroad arriving in the country and 30 to 40 percent of domestic health tourists. Chennai has been termed India's health capital. Multi- and super-specialty hospitals across the city bring in an estimated 150 international patients every day1. Factors behind the tourists' inflow in the city include low costs, little to no waiting period, and facilities offered at the speciality hospitals in the city. Chennai is the hub of medical tourism in the country, an industry which is expected to grow at a rapid rate of 30% per year, which is estimated to see an accelerated growth in the next decade. Customer Satisfaction Customers derive satisfaction from a product or a service based on whether their need is met effortlessly, in a convenient way that makes them loyal to the firm. Hence, customer satisfaction is an important step to gain customer loyalty. Customer satisfaction has been regarded as the main determinant in maintaining long-term customer behaviour. In other words, the more satisfied customers are the greater the customer retention and will also help in creating a huge customer base. Moreover, patients are becoming more open to competitive advances and are becoming more familiar with health care services, and, thus, service quality alone may not be sufficient to ensure a long-term relationship between the patients and the hospital. To ensure patients have a long-term commitment to the hospital, many hospitals look beyond satisfaction to developing loyalty in order to reduce the perceived risk of using the service. Customer satisfaction is seen as being as the key factor of considerable importance in the process of building and maintaining long term relationships in medical services. Thus, enhancing behavioural intention should be a key driver for hospitals in maintaining a long-term relationship with their patients. Service Quality in Health Sector Health services are unique in identifying new challenges. Academics, practitioners, policy makers, and decision makers are still in the process of identifying legal tools to assess service quality. The health care facility can be divided into 2 quality dimensions: technical quality and functional quality. Technical quality in health care is mainly related to technical precision and medical analyses and techniques, whereas functional quality refers to how the health care service is provided to patients. Furthermore, technical quality is about what the customers get, whereas functional quality is about how they get it, although technical quality has high implication among patients, most patients do not have the information to assess efficiently the quality of the fact-finding and relaxing involvement procedure or material needed. Maximum patients cannot distinguish among the caring presentation and the 1

https://en.wikipedia.org/wiki/Healthcare_in_Chennai 189

Contemporary Issues in Business, Banking and Finance ISBN:978-93-87756-82-3 remedialpresentation of doctors. Through a system approach, quality standards are framed according to needs, but most of them focus on the practical delivery of services and ignore the customer’s point of view. This technical perspective focuses on the exactness of diagnosis, success of procedures, and satisfaction of professional requirements at the facility. II. OBJECTIVES OF THE STUDY  To examine the perception of the patients about hospitals in Chennai City,  To analyse the preference of patients in both private hospitals and public hospitals,  To examine the perception and preference towards satisfaction of the different aspects in hospitals. Review of Earlier Studies Si Dung Chu & Tan Sin Khong (2001),“A study on Measuring healthcare service quality in a private hospital in a developing country by tools of Victorian patient satisfaction monitor” ; they conducted this study by using the Victorian Patient Satisfaction Monitor (VPSM). VPSM is a study that asks patients to tell how they felt about their stay in the hospital. The major objective of the researchers were to know if the patients were actually satisfied with services provided by the hospital. The researchers found out that the results of the study indicated the levels of customer satisfaction about service quality is influenced by the VPSM.Cha Chon Heng : (2011) “A study on Customer's Satisfaction towards Service Quality of Private Hospitals in Kuching”,The researcher has collected the responses for hisquestionnaire from 300 patients who were getting treated from a private hospital in Kuching. The objective of his study was to measure the expectation, perception and satisfaction of private hospital services by the customers for the improvement in the quality. K.V.D.H.S.Kalutharawithana, N.S.Jayawardena : (2017) “A study on The Impact of Service Quality towards Customer satisfaction in Private sector Hospitals- A Case Study on the ABC Private Hospital in Sri Lanka” ;They have conducted the study based on the survey questionnaire answers given by 100 OPD Patients (Out Patient Department) in the hospital. The researchers after conducting a thorough study came to a conclusion that the satisfaction availing by patients from hospitals perceive that ABC Hospitals is making visible effort in order to deliver better quality of services to their patients.Shahab Alam Malik : (2017) “A study on Hospital Healthcare Service Quality, Patient Satisfaction and Loyalty: An Investigation in context of Private Healthcare Systems”;The author had collected data from a total of 611 patients (both indoor and outdoor) participated in a questionnaire survey from the six private hospitals of capital city, Islamabad, Pakistan.The purpose of the study was to explain the patients’ views towards private healthcare service providers. The study focussed on hospital service quality and studied the relative significance of quality measurements in anticipating the patients’ satisfaction and loyalty.Muhammad Shafi, et al: (2017) “A study on Service Quality Assessment of Hospitals in Asian Context: An Empirical Evidence From Pakistan” ;They had conducted the study by adapting the SERVQUAL measurement model.They found that the validity of the scale items was tested by measuringthe quality gap, and they were found to be valid, as a significant gap existed between patients’ expectations and perceptions Research Methodology A structured questionnaire consisting of 22 Questions was distributed through Google forms and information was collected from 100 respondents. Both Primary and Secondary Data was used and the entire data collected was used for research purposes only. The tools namely Mean Analysis, Frequency Analysis, Regression, Chi-Squareand ANOVA were used in the analysis. SPSS Version 16.0 software is used to do the analysis. Table 1 Gender Distribution, Age group & Income level of the Respondents Gender Male Female Total Age Group Less than 18 Between 18 and 25 Between 25 and 40 Above 40 Total Income Level High Moderate Low Total

Frequency 67 33 100 Frequency 3 59 23 15 100 Frequency 21 57 22 100

Source: Primary Data

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Percent 67.0 33.0 100.0 Percent 3.0 59.0 23.0 15.0 100.0 Percent 21.0 57.0 22.0 100.0

Contemporary Issues in Business, Banking and Finance ISBN:978-93-87756-82-3 Interpretation The Table #1 shows the Gender Distribution, Age group & Income level of the Respondents. From the table, itis inferred that 67% of the respondents are Male and 33% of the respondents are Female, followed by 59% of the respondents belong to age category 18- 25 and 57 % of the respondents income level is moderate. Table 2 Cross Tabulation Between Income and Preference of Hospital Interpretation Income

Private Hospital

Government Hospital

High Moderate Low Total

14 32 11 57

7 24 9 40

Charitable Hospitals 0 1 2 3

Total 21 57 22 100

Source: Primary data The Table 2 shows the cross tabulation between Income and preference of hospitals. From the table it is inferred that Majority of the High Income people prefer to get treated from Private Hospitals, Moderate Income people prefer to get treated from both Multi-Speciality Private and Multi- Speciality Government Hospitals. Low income people prefer to get treated from Private and Government hospitals. Table 3 Regression Between Doctor Explanation * Overall Experience Unstandardized Coefficients Standardized Coefficients Model t Sig. B Std. Error Beta Doctor Explanation

.528

.188

.488

2.807 .006

Source:Primary Data H0: The doctor’s explanation to the problem does not influence the overall satisfaction of the customers H1: The doctor’s explanation to the problem influences the overall satisfaction of the customers Interpretation From the above table#3, it is inferred that the Significance value is .006 which is less than the standard significance level of .05, there is strong evidence to reject the null hypothesis and it conclude that doctor’s explanation is a most influencing factor on patients satisfaction. Table 4 ANOVA for Overall Experience * Preference of Hospital Sum of Squares Df Mean Square F Sig. Between Groups 22.628 4 5.657 3.273 .015 Within Groups 164.212 95 1.729 Total 186.840 99 Source: Primary Data H0: There is no difference in the overall experience of the different preferred hospitals H1: There is a difference in the overall experience of the different preferred hospitals. Interpretation The table #4 shows the ANOVA for Overall Experience (i.e., availability of medicines at the pharmacy, seating arrangement at the OPD, ventilation, doctor’s explanation to the problem, response of the nursing staff, lab equipment’s )and Preference of hospitals. From the table, it is inferred that the significance value is .015 which is less than the standard significance value .05. Hence, there is a difference in the overall experience of different hospitals. Therefore, the Null Hypothesis (H0) is rejected. Measuring the Overall Satisfaction of the Customers in different Hospitals Table 5 Descriptive Statistics Overall Private Government Charitable Experience Hospitals Hospitals Hospitals Mean 2.1377 2.4175 2.6667 grand mean = 2.4073

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Contemporary Issues in Business, Banking and Finance ISBN:978-93-87756-82-3 Interpretation The table #5 above shows that the overall mean value of the satisfaction level is2.4073 which is in between Satisfied and Neutral. Hence, it is inferred that there is still some important aspects for the hospitals in Chennai which has to be improved in order to achieve maximum satisfaction. Table 6 Chi-Square Test for Income Level and Preference of Hospitals Value df Asymp. Sig. (2-sided) a 4.487 4 Pearson Chi-Square .344 H0 : There is an insignificant relationship between Income Level and Preference of Hospitals H1 : There is a significant relationship between Income Level and Preference of Hospitals Interpretation The table 6 showed that the Significance Value is .344 which is higher than the standard significance value of 0.05. From the table, it is inferred that H0 is accepted. Hence, there is an insignificant relationship between Income Levels and Preference of Hospitals. Limitations of the Study  The sample may not be representative of a comprehensive analysis of information.  This research examined the concept of hospital service quality, patient satisfaction and behavioural intention from the perspective of customers.  The sample size is limited to 100 only, so the results may vary if the number of respondents are more.  However, this study did not explore the perspective of service providers. This is a limitation in as much as it only considers the patients view, which might be different from the providers view. III. FINDINGS From the analysis, it isclear that 67% of the respondents are Male. 57% of the respondents are Moderate Income Earners.31% of the respondents prefer to get treated from Private Hospitals and 31% of the respondents prefer to get treated from Government Hospitals.39% of the respondents chose Quality of Treatmentfor choosing Private and Government hospitals. 73% of the respondents feel that the condition of the equipment used for diagnosis is Advanced. The mean value of the satisfaction level is 2.4073 which is between Satisfied and Neutral. IV . SUGGESTIONS In general, the hospital must take steps to maintain a separate Insurance Desk at the hospital and appoint staff who are efficient and quick enough to cater to the customer’s needs The following factors must be kept in mind to improve health care services  Firstly, sanitation, access to fresh water, hygiene, improper wastage disposal methods.  Improve the number and quality of doctors, nurses and pharmacists appointed at the hospitals.  Need for effective payment mechanisms.  Basic primary healthcare and infrastructure.  The hospital Corridors, Toilets and Rooms must be properly ventilated,  The quality of food served to the patients  Proper seating arrangements at the Out-patient Department  Quick responsiveness of the Nursing department. V . CONCLUSION Success of any country depends on its people if they were healthy then they will be active and can do better for their country by actively participating in their work, but if they were not healthy, they cannot actively participate in their work, so it is very important to upgrade hospitals and improve their service quality in order to satisfied patients. It is also important to identify whether people are satisfied with their hospital or how much they are satisfied with the services of their hospital. The major objective of the study was to find out which hospital would the people prefer to get treated from and from the analysis 31% of the respondents prefer to get treated from Private hospitals and another 31% of the respondents prefer to get treated from Government Hospitals. Another objective of the study was to know why they would prefer the hospital and it was found that they would prefer because of the Quality of treatment. The overall satisfaction is between Satisfied and Neutral, therefore major improvements have to be made in the hospital industry.

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Contemporary Issues in Business, Banking and Finance ISBN:978-93-87756-82-3 VI . REFERENCES 1. Si Dung Chu & Tan Sin Khong (2001),“A study on Measuring healthcare service quality in a private hospital in a developing country by tools of Victorian patient satisfaction monitor”,, 2. Cha Chon Heng : (2011) “A study on Customer's Satisfaction towards Service Quality of Private Hospitals in Kuching”, 3. K.V.D.H.S.Kalutharawithana, N.S.Jayawardena : (2017) “A study on The Impact of Service Quality towards Customer satisfaction in Private sector Hospitals- A Case Study on the ABC Private Hospital in Sri Lanka”, 4. Shahab Alam Malik : (2017) “A study on Hospital Healthcare Service Quality, Patient Satisfaction and Loyalty: An Investigation in context of Private Healthcare Systems”, 5. Muhammad Shafi, et al: (2017) “A study on Service Quality Assessment of Hospitals in Asian Context: An Empirical Evidence From Pakistan”, 6. www.assocham.org 7. www.investindia.gov.in 8. www.ibef.org

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A STUDY ON INVESTMENT PATTERN OF SALARIED PEOPLE WITH SPECIAL REFERENCE TO CHENNAI CITY G. AMRITH Final Year, Department of Accounting and Finance Ramakrishna Mission Vivekananda College Evening College (Autonomous) Mylapore, Chennai – 600004 ABSTRACT There is an increased push towards portfolio and goal based investment by the industry, aimed at regular investors (salaried investors). Hence, there is a need to understand current investment patterns of these investors. In this study, we have taken into consideration “The Investment Pattern of Salaried People with special reference to Chennai city”. In this, the researcher has studied the profile, characteristics of salaried people and their preferences to various investments. The study identifies the preferred investment avenues among the salaried investors.The study concludes that investors prefers investments that are safe, low risk to medium risk and with return on regular basis. Most of the respondents are passive in term of risk profile. There is increased transparency in product information in the market but there is a gap in the level of understanding of this information by investors. Keywords : Investment, Salaried Individuals (Investors), Investment pattern, Investment avenues I. INTRODUCTION The term Investment signifies commitment of funds in any form ( real estate, equity, mutual funds, bank deposits, bonds, etc) expecting it to be safe and to yield a projectedreturn over a period of time.For a person who has lent money to another, it may be an investment for a reason. Similarly, if a person purchases shares of a company, bullion or real estate for the purpose of price appreciation, it is also an investment for him. Likewise, an insurance plan or a pension plan is an investment to its purchaser.investment is considered as the sacrifice of certain present value of money in anticipation of a reward.The primary source of funds are typically drawn from the following  Salary  Profession / Business  Inheritance The period of investment might either be short term or long term and the return vary depending upon the risk taking attitude of the investor. High returns always confines to high risk. The major features of investment are Safety of principal, Liquidity, Stability of return, Appreciation and easy transferability. One of the important reason why one needs to invest wisely is to meet the cost of inflation. Inflation is the rate at which the cost of living increases. The objective of every rational investor is to maximize his returns and minimize the risks. The essence of portfolio is that assets are held for investment purposes and not for consumption purposes.Portfolio management deals with the selection of optimal portfolios by rational risk- averse investors. Portfolio management thus refers to investment of funds in such combinations of different securities in which the total risk of portfolio is minimized while expecting maximum return from it. Salaried Person A salaried person is an individual who is paid a fixed amount of money by an employer. The investment pattern of salaried person is different from business man andprofessionals due to safety, regular flow of income, security, retirement benefits and tax saving benefits. II. OBJECTIVES OF THE STUDY  To identify the motivation for investment of salaried employees.  To identify the factor influencing the investment behavior of the employees.  To identify the gaps in decision making faced by the investors  To understand how risk is perceived by investors when choosing an investment product  To study the risk appetite of investors. Statement of Problem Investment is a complex activity that involves assessment of risk against potential return on investment. Institutional and professional investors deal with this regularly and have a fair grasp of its working. Salaried individuals however do this activity infrequently and may not have the experience to handle risk appropriately. There is a need in any economy to maximize returns on investment for salaried individuals who are an important part of the success of the country. There is a need to understand how these individuals take investment decisions and if these decisions are based on actionable and reliable information.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Review of Earlier Studies 1. Sonali Patil(2014)“A Study on Preferred Investment Avenues among Salaried People with reference to Pune, India.”The study is based on the awareness and preferred investment avenuesof the salaried people. The data were collected by circulating a structured questionnaire. According to the investors, safety as well as good return was their main criteria. Bank Deposits topped the list of preferred investment avenues. Male respondents were more aware about the various investment avenues available than the female investors. 2. K.V Ramanathan, Dr. K.S Meenakshi Sundaram (2015) “A study on the Investment Pattern of Bank Employees.”The study focuses on the profile, sources of motivation and investment pattern of bank employees. The main object of the respondents is tax planning and the source of motivation is mainly from their family and friends. There is a significant relationship between income and investment. Demographic variables like age, gender, marital status and educational qualification are not significantly associated with the basis of investment. 3. G. Usha Sree(2017)“Pattern of Saving and Investment of Teachers – A study of Warangal District.”The main aim of the study is to identify the key determinants of saving and investment behaviour of teachers and the various socio-economic implications. Majority of the teachers prefer low risk and low return investments. They are not well informed about the stock market and they prefer Bank Deposits as they are low risk investments. Data Analysis and Interpretation Anova Hypothesis Null Hypothesis H0: There is no significant difference between the type of investor and their attitude towards a loss making investment. Alternate Hypothesis H1 : There is a significant difference between the type of investor and their attitude towards a loss making investment. Table 1 ANOVA If an Investment is Performing Poorly I Prefer to Cut My Losses Rather than Wait Sum of Squares

Df

Mean Square

Between Groups

7.953

2

3.976

Within Groups

38.527

47

.820

46.480

49

Total

F

Sig.

4.851 .012

Interpretation From the above table 1, it is clear that the significant value is less than 0.05 i.e., 0.012. According to the result, irrespective of the type of investor the decision to cut their losses or pursue a wait and see strategy depends on other extraneous factors. It is clear that there is a significant difference between the two variables. Hence H0 is rejected and H1 is accepted. Correlation Hypothesis Null Hypothesis H0 : There is no significant relationship between the perception of information availability and actual investor knowledge. Alternate Hypothesis H1 :There is significant relationship between the perception of information availability and actual investor knowledge. Table 2 Correlations

An Investment In Mutual Fund With 50% Fund Allocation in Equities is a Safe Investment I Have Enough Information Regarding Investment to Make Decision

An Investment In Mutual Fund With 50% Fund Allocation In Equities Is A Safe Investment

I Have Enough Information Regarding Investment To Make Decision

1

.176

Pearson Correlation Sig. (2-tailed)

.221

N

50

50

Pearson Correlation

.176

1

Sig. (2-tailed)

.221

N

50

195

50

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation From the above table 2, An investment in mutual fund with 50% fund allocation in equities is normally considered as medium risk to high risk investment. The awareness of the investors to make decisions regarding investment have a very weak correlation with the level of understanding of investment risk. Although, they believe that they have sufficient information, the information they receive is either incomplete or flawed. Hence H1 is rejected and H0 is accepted. CORRELATION HYPOTHESIS Null Hypothesis H0: There is no significant relationship between monthly income and the percentage of savings invested. Alternate Hypothesis H1 : There is significant relationship between monthly income and the percentage of savings invested. Table 3 Correlations Monthly income

What percentage of your savings do you prefer to invest

1

.003

Pearson Correlation Sig. (2-tailed)

Monthly income

.984

N What percentage of your savings do you prefer to invest

50

50

Pearson Correlation

.003

1

Sig. (2-tailed)

.984

N

50

50

Interpretation From the above table 3, it is clear that that significant value is more than 0.05 i.e., 0.984. Table shows that monthly income of the salaried people and the percentage of their savings which they prefer to invest does not have any relationship. Hence H1 is rejected and H0 is accepted. Chi – Square Hypothesis Null HypothesisH0: There is no association between age and investors investment objective Alternate Hypothesis H1: There is association between age and investors investment objective Age What is Your Investment Objective Cross tabulation What is Your Investment Objective Total

Count

Safety of Capital

Returns

Capital appreciation

Tax benefits

Hedge against inflation

Liquidity

20 - 30 years

2

5

5

3

0

0

15

AGE 30 - 40 years

0

2

7

1

0

0

10

Above 40 years

6

9

4

2

2

2

25

Total

8

16

16

6

2

2

50

Table 4 Chi-Square Tests Value

Df

Asymp.Sig.(2sided)

Pearson Chi-Square

14.938

a

10

.134

Likelihood Ratio

17.230

10

.069

.001

1

.979

Linear-by-Linear Association N of Valid Cases

50

a. 16 cells (88.9%) have expected count less than 5. The minimum expected count is .40.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation From the above table 4, it is clear that the significant value is more than 0.05. Hence, it is concluded that there is no association between age and the investor’s investment objective. Therefore, H0 is accepted and H1 is rejected.The age of an investor and their preferred investment objective do not have a direct correlation. III . FINDINGS  The study was responded to by people in aged 20 and above with an equal mix of gender.  Almost, all of the respondents had some form of formal education and an income above 25000.  Based on the analysis of data it was found that lack of information might be a factor in investment decision pitfalls among investors.  Investors are generally motivated by personal and family needs to invest their savings and typically turn to close family and professionals for advice on investment avenues.  There is a significant difference between the type of investor and their attitude towards a loss making investment.  There is no significant relationship between the perception of information availability and actual investor knowledge.  There is no significant relationship between monthly income and the percentage of savings invested.  There is no association between age and investors investment objective IV. SUGGESTIONS  In addition to seeking professional advice, investors should read and get clarity on the terminology used in investment contracts.  With respect to building a diversified portfolio, investors should look into products comparable to bank/post office deposits to better strengthen their investment.  When apportioning income for investment, health insurance products should also play a part in portfolio. These products protect savings and provide tax savings option. V. CONCLUSION Based on the study, it appears that salaried people invest a healthy portion of their income in investment products. This is true irrespective of age, gender and income. However, the investment mix and the decision making regarding selection of products needs a more informed approach. This can be improved through two approaches, one lies with the investor reading up and getting clarification regarding the terminology used in investment contracts. The other is the demystifying of investment jargon by the industry. VI. REFERENCES 1. https://businessjargons.com/chi-square-test.html 2. https://www.statisticshowto.datasciencecentral.com/ 3. http://www.iosrjournals.org/iosr-jef/papers/vol5-issue2/B0520917.pdf 4.http://www.innovativeresearchpublication.com/documents/papers/Thailand%202015/pdf%2027.pdf 5.http://www.ijrms.com/olvolume2issue7/GUshasree-4.pdf

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PERCEPTION OF INVESTORS TOWARDS MUTUAL FUNDS J. SUHAS Final Year, B.Com-Department of Accounting and Finance Ramakrishna Mission Vivekananda College (Evening), Chennai ABSTRACT Mutual Funds provide a platform for a common investor to participate in the Indian capital market with the fund management by a Professional irrespective of the amount invested. Thus, a Mutual Fund is the most suitable investment for the common man as it offers an opportunity to invest in a diversified, professionally managed basket of securities at a relatively low cost. Day by day Indian financial market is becoming competitive and the supply of various financial instruments needs to be in equilibrium to the demand perspectives of the investors. The prime drive of any investment is to get maximum return with a minimum risk and mutual funds provide the opportunity for the investors. The findings will help mutual fund companies to identify the areas required for improvement in order to create greater awareness among investors regarding investment in mutual funds. It will help the Mutual Fund companies to create new and innovative product according to the orientation of investors. Key Words : Perception, Investors, Mutual Funds, Chennai I. INTRODUCTION "The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd." says Warren Buffet.A Mutual fund is a trust that pools the savings of a number of investors‟ who share a common financial goal. The money collected from investors‟ is invested in capital market instrument such as shares, debentures and other securities. The income earned through these investments and the capital appreciations realized are shared by its unit‟s holder in proportion to the number of units owned by them. Thus a Mutual Fund is the most suitable investment to the common man as it offers an opportunity, to invest in a diversified, professionally managed basket of securities at relatively low cost. The Indian Mutual fund industry has witnessed considerable growth since its inception in 1963. Thus mutual funds act as a gateway to enter into big companies hitherto inaccessible to an ordinary investor with his small investment. In financial markets, “expectations” of the investors play a vital role. They influence the price of the securities; the volume traded and determines quite a lot of things in actual practice. These „expectations‟ of the investors are influenced by their “perception” and humans generally relate perception to action. Before conducting the study, we must first look at some of the previous study conducted on similar topics in order to get a better idea on further performance of our respective study. Review of Literature A.K.Singh et.al (2009), stated in their research that “a competent fund manager should analyse investor behaviour, perception, and attitude and understand their needs and expectations to gear up the performance to meet investor expectations and requirements”. Investment in mutual fund is affected by the attitude of investors and hence the objective of the study is to identify the investor's attitude on mutual fund as an investment avenue and the major findings reveal the factors that influence buying behaviour of mutual fund investors. The study aimed at finding out the attitude of the investors towards investment on mutual funds in Davangere city (Karnataka) with 100 respondents who are likely to be investors. Singh et.al(2004), the researcher says that “Investors judge mutual fund schemes for investment on the basis of their structure, size, performance, status and professional expertise”. Therefore, mutual fund companies should emphasize strong points of their schemes regarding these characteristics. Further, investors expect strong grievance mechanism, regulations and expert advice from mutual fund companies. Most of the investors have been investing in growth, income and balanced mutual fund schemes. They must be made aware about the benefits of other type of schemes also as ELSS, index, fund of funds, international funds, and lifestyle funds and so on. Subbash C. Jain (2000),focused on the strategic business unit, this book provides complete coverage on what marketing strategy is and to formulate and implement it. 23 cases, 15 of which are new, and current examples give the book perspective. New to this edition: global marketing strategy; 10 international cases; and a discussion on Nissan Motor Company's international integration. Written for the capstone course in marketing or marketing strategy, Marketing Planning and Strategy will help students develop strategic marketing skills essential for today USA‟s global competition. This text focused on marketing strategy from the viewpoint of the business unit, and clearly distinguished marketing strategy from marketing management. Raja J, Ganesha (2000), identified various factors affecting perception of investors regarding investment in Mutual funds. The findings will help mutual fund companies to identify the areas required for improvement in order to create greater awareness among investors regarding investment in mutual funds. Gauri prabhu et.al (2008),found out the factors affecting investment decision of mutual funds and the preference of investors to particular schemes of mutual funds. The findings will help mutual fund companies to

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 identify the parameters which influence the investment decision of the common investor and also the preferences of particular schemes and fund houses by the investors. Gil-Bazo et.al (2009), discovered a puzzling fact about the market for equity mutual funds: funds with worse before-fee performance charge higher fees. This negative relation between fees and performance is robust and can be explained as the outcome of strategic fee-setting by mutual funds in the presence of investors with different degrees of sensitivity to performance. Scope of the Study The period of the study is for the financial year 2018-19. This study focuses all Mutual Fund Schemes generally. This study only limits in knowing the Awareness levels of the people in Mutual Funds, Factors affecting the Mutual Fund investment of the People, Sources of knowledge for Mutual Funds and the Peopleâ€&#x;s Personal Preferences about the Mutual Funds. This study mainly concentrates the Working Age-grouped People residing in Chennai. Statement of the Problem As there are very few Studies conducted about the Perception of Mutual funds in Chennai, an attempt has been made to study the Perception of the people towards Mutual Funds in Chennai. This Project makes an attempt to identify the Awareness levels of the people in Mutual Funds in Chennai city, alsothe factors affecting the Mutual Fund investment of the People, Sources of knowledge for Mutual Funds and the Peopleâ€&#x;s Personal Preferences about the Mutual Funds. Significance of the Study The findings of this Project will help the mutual fund companies in Chennai to identify the areas required for improvement in Mutual Funds in order to create greater Awareness among investors of the Chennai city regarding the investment in mutual funds. This study will also help the Government and Educational Institutions to stimulate the Education Pattern with this aspect of Mutual Funds, thereby enhancing the growth of Financial market in our Country. II. OBJECTIVES The objectives of the study are listed below: 1. To study the investors Awareness of Mutual Fund Investments. 2. To identify the factors which prevent the people from investing in Mutual Funds. 3. To study the sources of knowledge for Mutual Funds. 4. To study the Personal Preferences of people in Mutual Funds. Research Methodology The main objective of the study is to study the Awareness levels of the people of Chennai City about Mutual Funds. For obtaining complete and accurate information, a Survey had been conducted, where the Data was collected through a Structured Questionnaire. The sample size of the study is limited to 103 People, amongst the residents of Chennai. Results and Discussions Demographics of the Respondents Table 1.1 Demographics of the Respondents Sl. No.

Demographics

Category

Frequency 66

Percentage 64.1

Female Total 18-25 26-40 41-60 above 60

37 103 16 48 25 14

35.9 100.0 15.5 46.6 24.3 13.6

Total Higher secondary certificate Undergraduate

103 9 45

100.0 8.7 43.7

Postgraduate

16

15.5

Technical (ITI/diploma)

8

7.8

Male 1.

Gender

2.

Age

3.

Education Qualification

Profession

25

24.3

Total

103

100.0

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

4.

Annual Income

5.

Occupation

Below 1,00,000 1,00,000-5,00,000

17 31

16.5 30.1

5.00.001-10,00,000 Above 10,00,000 Total Student Private Employee Government Employee

31 24 103 17 43 21

30.1 23.3 100.0 16.5 41.7 20.4

Business/ self employed 22 21.4 Total 103 100.0 Source: Developed for the study From the above information it can be understood that,66of the respondents are male and 37 of the respondents are Female. Majority of the Respondents are in the Age group of 25-40. Most of the respondents were Private Employees. The Annual Income classification of the Respondents reveals that the majority of the Respondents earn more than Rs.5,00,000 per Annum. Gender and Awareness Levels The Following hypothesis were tested: H1o: There is no significant difference between Gender and investor awareness towards mutual funds. H1a: There is a significant difference between Genderand investor awareness towards mutual funds. This hypothesis has Gender as a categorical variable with two groups and Awareness Levels as a dependent variable. This leads to conduct independent-sample t-test to the above mentioned Hypothesis. The Results of descriptive statistics of all Constructs are summarized in Table 1.1 and the Results of the Independent sample t-test is presented in Table 1.2. Table no. 1.2 Descriptive Statistics for Awareness levels of Mutual Funds Amongst Male and Female. Gender of the Respondent

Std. N Mean Deviation

Std. Error Mean

Male

66 3.10

.705

.087

Female

37 2.96

.788

.129

Source: Developed for the study Table no. 1.3 Independent Sample T Test T Test Statistic

Degree of Freedom

Sig. (2-tailed)

Mean Difference

.928

101

.356

.140

Source: Developed for the Study The Results of the Independent sample t test indicates that the Null Hypothesis should be accepted. It implies that there is no significant difference in the Awareness of the people in Mutual Funds with respect to Male (M = 3.10, SD = 0.705) and Female (M = 2.96, SD = 0.788). T test statistic where t(101) = 0.928, P = 0.356. These results suggest that consumer Awareness between male and female doesnâ€&#x;t significantly differ. Age and Awareness Levels The following hypothesis were tested: H2o: There is no significant differences between Age and investor awareness. H2a: There is a significant difference between age and investor awareness. This hypothesis has age as the categorical variable with four categories and the Awareness levels of the people in Mutual Funds as a dependent variable. This leads to conduct ANOVA to test the above mentioned hypothesis. The Results of the descriptive statistics of all constructs are Summarized in the Table 1.3 and the Results of ANOVA are presented in Table 1.4.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table no. 1.4 Descriptive Statistics for Awareness levels of Mutual Funds Amongst Male and Female Std. N Mean Deviation

Age Category 18-25

16 3.00 .790

26-40

48 3.21 .722

41-60

25 2.88 .566

Above 60

14 2.83 .914

Total

103 3.05 .735 Table no. 1.5 ANOVA

Particulars Between Groups

Sum of Squares 2.715

Degree of Freedo m

Mean Square

3

.905

Within Groups 52.421

99

.530

Total

102

55.136

F 1.709

Sig. .170

Source: Developed for the Study The ANOVA results indicate that the Null hypothesis should be accepted. The independent variable is for four groups. Hence, the results show that there was no statistical significant difference at P<0.05 level in the Awareness scores F (3,99) = 1.709, where P = 0.170. III. FINDINGS  Majority of the Respondents were Male  Majority of the Respondents were Private Employees, of the age 26-40.  There is no significant difference in the Awareness of the people in Mutual Funds with respect to the Gender of the Investors.  There is no statistical significant difference in the Awareness of the people in Mutual Funds with respect to the Age of the Investors.  There is no statistical significant difference in the Awareness of the people in Mutual Funds with respect to the Occupation of the Investors. Limitations of the Study 1. Since the sample size is 103, it cannot give the exact perception of whole population. 2. Some people though they invested in mutual funds did not possess any knowledge of mutual funds. 3.Few persons, even though they had invested in mutual funds were hesitant to respond to questionnaire due to lack of interest. IV. CONCLUSION Mutual fund industry is still struggling to gain more investors. Financial literacy among females andyouths will definitely bring a huge success to this industry. For that reason the government is looking toprovide financial studies in school level. Adults who are already mutual fund investors should not withdrawfrom the same as they attain experience in the field. In Indian market where financial instruments arecapturing almost every unit of society, mutual fund industry has a great scope if it gives more attention tosome factors which will ultimately lead to satisfaction of investors which will help the mutual fund industryto boom up. The organizations, to boost the mutual fund investment shall educate the public about the benefits of mutual funds through the School level Education, Heavy Advertisements, Publicity campaigns having stall exhibitions, Awareness Camps etc. can drastically increase the Scope of Mutual Funds in Our Country.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 V. REFERENCES 1. Binod Kumar Singh (2012), “A study on Investors” attitude towards mutual funds as an investment option, International Journal of Research in Management, March 2012, Vol. 2, Issue 2, ISSN 22495908. 2. Desigan G, Kalaiselvi S and Anusuya L. (2006), “Women Investor Perception Towards Investment: An Empirical Study”, Indian Journal of Marketing, Apr 2006, Vol. 36, Issue 4. 3. D. Rajasekhar (2013), “A study on investor‟s preference towards mutual funds with reference to Reliance private limited, Chennai – An empirical Analysis, International Research Journal of Business and Management, September 2013, Vol. III, ISSN 2322-083X. Economic Times Bureau, Apr 2009 and Dec 2015. ICF 2015, ICRON Analysis. 4. IMFI, The Road Ahead, (2015) (IMFI: Indian Mutual Fund Industry). 5. K Lakshman Rao (2011), “Analysis of Investor‟s Perceptions Towards Mutual Fund Schemes (With Reference to Awareness and Adoption of Personal and Family Consideration),International Journal of Multidisciplinary Research, Vol. 1, Issue 8, Dec 2011, ISSN 2231-5780.

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A STUDY ON CUSTOMER SATISFACTION TOWARDS STATE BANK OF INDIA WITH SPECIAL REFERENCE TO CHENNAI CITY G. CHANDRASEKAR Final year, Department of Accounting and Finance Ramakrishna mission Vivekananda College, Evening College, (Autonomous) ABSTRACT The purpose of this study is to evaluate the customer satisfaction towards banking services rendered by State Bank of India in Chennai. This researchis conducted on bankingservices of SBI questioning of its 100 customers and scrutinized how it caters to the banking needs the inhabitants of Chennai. This study also determines the various factors of customer’s satisfaction like employees behavior, banking services, banking performance, infrastructure facility provided and other value added services of state bank of India. Analysis was made by using various tools like frequency Analysis, Mean analysis, Chi- Square Test, correlation, Regression, Anova and charts. The result showed that there is a significant relationship between the variable of customer satisfaction and banking services of the SBI and the customers have an average level of satisfaction. The State Bank of India could consider the suggestions in order to alleviate its reputation and customer satisfaction. KEYWORDS: Customer satisfaction, Banking Services and services of State bank of India. I. INTRODUCTION The banking business is very old as the civilization itself. The fact is that the money lenders lent money at higher rates of interest against gold, silver and copper under the temple’s safe custody stands proof for banking history. In ancient days, the main function of banks was granting loans to individuals or the state in times of any crisis. Banking sector in India originated at the end of the 18th century and the General Bank of India, which was established in 1786 is the first bank in India and later Bank of Hindustan was also established. The oldest bank in India is the State Bank of India, which is owned by government of India and its origin is back to June 1806. The state bank of India is the largest commercial bank in the country till today. The Joint Stock Company act passed in 1850 and it greatly helped in the establishment of many commercial banks in India. In 1921, the Imperial Bank of India was established and the Reserve Bank of India was establishedin 1935. After independence in 1947, the Reserve Bank of India was nationalized enabling it with morewiderpower. 14 large commercial banks were nationalized by the government of India in 1969 and six more other banks were also added to the list in1980 by the government of India. Nowadays customers are becoming increasingly conscious of their rights and are demanding ever more services than before. The recent studies shows that most of the banks are shifting from a “product –centric model” to a “customer –centric model” since customer satisfaction has now become one of the major factors of business growth. In this context, prioritization of performance and close monitoring of the customer satisfaction are important. II. OBJECTIVES OF THE STUDY  Tostudy the level of customer satisfaction towards the services provided by the State bank of India in Chennai.  To know about the various factors affecting the customers satisfaction level in State bank of India.  To study about the overall customer perception towards State bank of India. Statement of problem In the current competitive world banks have to struggle a lot to offer the best of the customer satisfaction through implementing various innovative strategies and new schemes in order to survive in the market. This would stand as a sincere attempt to evaluate customer satisfaction in state bank of India in Chennai city. Research methodology To collect primary data through questionnaire from 100 respondents selected through convenience samplingand to allot values for the collected data in SPSS.To use the allotted values to determine Frequency, Mean, Anova, correlation, regression& Chi Square.

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3 Data collection For the purpose of study primary data has been used to analyze the objectives of the study. Primary data has been collected through questionnaire from the customers of state bank of India. Sample structure The sample structure for the study is restricted to 100 respondents and the data has been collected from them through convenient sampling method. Tools used for analysis The primary data collected from the respondents has been analyzed by using SPSS software through various analyses such as Frequency, Mean, pie chart, and Regression. Limitations of the study 1) The report has been conducted within a limited time frame. 2) The study is limited to customers of Chennai only. 3) Samples were selected conveniently. 4) Sample size is limited to 100 only and may not represent whole market. 5) The respondents may be reluctant while responding the questionnaire. Review of literature Hallowell Roger (1996) carried out “A study on customer satisfaction in banks” and made suggestions that banks should target service to only those who need it most. By adopting this strategy customers will be retained for longer periods since the bank can satisfy customers better than competitors in the market. Further heillustrates that there is a relationship of customer satisfaction to customer loyalty, and customer loyalty to profitability, using multiple measures of satisfaction, loyalty, and profitability. An estimate of the effects of increasing customer satisfaction on profitability suggests that attainable increases in satisfaction could improve profitabilityof the banks dramatically. Tyler K and Stanley (2001)carried out “Customer satisfaction in banking”. In their research show that Customer satisfaction in bankingdepended on the customers’ relationship with the staff, officer and manger rather than the bank they represented. Further this research shows that the attitude of bank officers or managers and their relationship with customers lead to customer retention and satisfaction.. So if the bank wants to keep their existing customers and want to attract new customers then they should continuously supervise customer satisfaction and its impact on loyalty. Kotovalas and Siomkos (2006) carried out a study on “customer’ssatisfaction in Greek banks”. The study revealed that there was a direct and positive correlation between customers’ loyalty and perceiving service quality in the case of both private and public sector banks. The significant relationship has recorded demographic characteristics and perceived qualities of both public and private sector banks. Customers of both public and private sector banks were willing to express their complaints to the bank employees. The result revealed that bank’s promotional efforts, aimed at providing relevant and sufficient information to the public might increase loyalty level. Mahalakshmi and Sarvanaraj (2011) studied “The customer’s satisfaction towards the banking services in Trichy district”. This study showed the key factors that influence in customer’s selection of a bank are rates, range of service, fees and prices charged. It further showed that not only superior service is required to satisfy customers but also excellent front office services, value added services, deposit oriented services and providing innovative products will satisfy the customer needs. Data Analysis and Interpretation Table 1 represents the Gender, Age, Occupation and Income of the Respondents Demographic variables Gender Male Female Age group Less than 20 20-30 30-40 40-50 50 Above

No of Respondents

Percentage

67 33

67.00 33.00

25 58 8 8 1

25.00 58.00 8.00 8.00 1.00

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3 Occupation Student Employee Self employed Professional Home maker Income (per month) Less than 20000 20000-40000 40000-60000 60000-80000 80000 above

63 17 9 7 4

63.00 17.00 9.00 7.00 4.00

62 22 6 2 8

62.00 22.00 6.00 2.00 8.00

Interpretation From the above table (Table 1.1) it is clear that majority of the respondents are male.67% of the respondents is male and 33% of the respondents are female. Majority of the respondents age group belong to 20-30 followed by less than 20 and least respondents belong to age 50 above. Majority of the respondents are students and occupation of other respondentsare employees, self-employed, professional and home maker and the majority of the income of the respondents is less than 20000 and least respondents’ income is 60000-80000 per month. Mean analysis of Rating of the services provided by the bank Table 2 Internet banking ATM Services locker facility Debit card Credit card Total

100

100

100

100

100

Missing

0

0

0

0

0

Mean 2.31 2.45 2.52 2.37 2.59 Interpretation From the above table (Table 1.2) it is clear that mean of the internet banking is 2.31 which means respondents rated internet banking as Good. The mean of the ATM services is 2.45 which mean respondents rated ATM services as good. The mean of the Locker facility is 2.52 which mean respondents rated locker facility as average. The mean of the debit card services is 2.37 which mean respondents rated debit card services as good. The mean of the credit card services is 2.59 which mean respondents rated credit card services as average. H0: There are no factors that determine the overall satisfaction of the customers of SBI H1:There are Factors thatdetermine the overall satisfaction of the customers of SBI Table 3 Coefficients Model (Constant)

1

Unstandardized Standardized Coefficients Coefficients B Std. Error Beta .233

.318

t

Sig.

.731

.466 .065

Bank employees are always available to help in .205 crisis

.110

.207

1.871

Provides proper parking & sitting arrangements to -.157 customers

.115

-.150

-1.364 .176

Internet banking is more convenient

-.020

.107

-.019

-.190

.850

Location of ATM is accessible

.291

.132

.267

2.206

.030

ATM machines are always .104 operating properly

.122

.110

.853

.396

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3 Bank update itself with changing environment

.267

.148

.242

1.811

.074

There is adequate staff at .059 bank to meet requirements

.144

.053

.409

.684

Staff behavior with customer is satisfied

.120

.218

1.984

.050

Provides information about -.142 new schemes regularly

.129

-.144

-1.100 .274

Bank gives best interest rates on deposits

-.188

.130

-.178

-1.448 .151

Bank provides speed service

.206

.127

.199

1.619

.109

.104

.917

.238

Bank is more transparent

.011

.106

.011

a. Dependent Variable: Overall rate the services provided by the bank Interpretation From the table (Table 1.3), we find that the significant value is lesser than 0.05 for location of ATM’s are accessible and Staff behavior with customer is satisfied. And the significant value is greater than 0.05 for all the other factors. Thus, it can be inferred that staff behavior with customer and accessibility to ATM are the factors determining the overall satisfaction of the consumers of SBI in Chennai. Mean analysis of overall rating of Customers Table 4 Frequenc Valid Cumulative y Percent Percent Percent Highly Satisfied 16 16.0 16.0 16.0 Satisfied

37

37.0

37.0

53.0

Neutral

31

31.0

31.0

84.0

Dissatisfied

7

7.0

7.0

91.0

Highly Dissatisfied

9

9.0

9.0

100.0

100

100.0 Table 1.5 Valid

100.0

Total

N

Missing Mean

100 0 2.56

Interpretation From the Table (Table 1.5) it is clear that mean of the overall rating of the services provided by the bank is 2.56. So overall the customers of the state bank of the India are neither satisfied nor dissatisfied and the result is neutral. So it is clear that customers of State Bank of India have an average level of satisfaction in the services provided by the bank. III. FINDINGS 1. It is understood from the survey that 67% of the respondents are male and 33% of the respondents are female and the majority of the respondents are male. 2. It is understood from the survey that25 respondents belong to age less than 20,58 respondents belong to age 20-30, 8 respondents belong to age 30-40, 8 respondents belong to age 40-50, and 1 respondent belong to age 50 above.so it is clear that majority of the respondents belong to age 20-30. 3. It is understood from the survey that the overall satisfaction of the customers regarding state bank of India differs according to the age category they belong. 4. It is understood from the survey that the overall satisfaction of the customers regarding state bank of India differs according to the age category they belong.

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3 5.

It is found from the survey that Staff behaviour with customer and accessibility to ATM are the factors determining the overall satisfaction of the consumers of SBI in Chennai. 6. It is found from the survey that overall satisfaction of the customers of the state bank of the India is neither satisfied nor dissatisfied and the result is neutral. So it is clear that customers of State Bank of India have an average level of satisfaction in the overall services provided by the bank. IV. SUGGESTION  Adequate staff should be maintained in the bank to provide better services to the customers  Proper seating and parking facilities should also be provided to the customer.  Procedure for opening bank account should be simplified and time taking for the process needs to be reduced.  Staff in the state bank of India should respond properly to the customers and also respond in a good manner.  ATM withdrawal limit should be increased and the charges for withdrawing the money should be decreased.  Location of the ATM’s should be more accessible. V. CONCLUSION This study highlights the satisfaction level of customers towards the banking services of the State Bank of India in Chennai. Having considered the demographic factors of age, gender,educational qualifications, occupation and monthly income of 100 respondents, a final data has been arrived and it point out that there is average level of satisfaction on the customers’ side. With factors like employee behavior, banking services and banking performance affecting the level of customer satisfaction, the SBI has to implement prompt customer friendly schemes are portfolios as an initiative go. These would thereby go a long way to enhance the level of customers’ satisfaction thereby rectifying customer problems and alleviate the number of customers as well. Perhaps this would definitely lead to a flourishing economy, since customer satisfaction is the important factor for the successful banking structure. VI. REFERENCES 1. Aurora, S., Malhotra, M.(1997). “Customer Satisfaction: A Comparative Analysis of Public and Private Sector Banks.” Decision 24 (1-4), January- December, IIM Calcutta, pp.109-130. 2. Edwin, M.G. &Fathima, S. (2011). “Impact of Service Quality in Commercial Banks and Customer Satisfaction: An Empirical Study.” International Journal of Multidisciplinary Study,vol.1 (6), pp.19-37. 3. Hallowell, Roger (1996). “The Relationship of Customer Satisfaction, Customer Loyalty and Profitability: An Empirical Study.” The International of Service Industry Management, 7 (4), Emerald, pp.27-42. 4. Kotovalas, K. & Siomkos, G.J. (2006). “An Examination of Relationship between Service Quality Perception and Customer Loyalty in Public & private Greek Banks.” International Journal of Financial Service Management, vol. 14, pp.208-271. 5. Naveen, K. &Gangal, V.K. (2011). “Customer Satisfaction in New Generation Banks: A Case Study of HDFC Bank.” International Referred Research Journal, vol.11 (4), pp.177-186.

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A STUDY ON NEED FOR EDUCATION ON POLITICS FOR COLLEGE STUDENTS WITH SPECIAL REFERENCE TO COLLEGES IN CHENNAI CITY N. MANIKANDAN Final year, Department of Accounting & Finance Ramakrishna Mission Vivekananda College, Evening College (Autonomous) Mylapore,Chennai- 600 004.

ABSTRACT This article will clearly examine thae need for education on politics for college students. This paper will show the importance of learning politics as a subject and the reality of teaching it. This paper also examines the views of both students and teachers on politics and also a comparison of both views. This study also focuses on the reason for peoples hesitation to enter into politics. KEY WORDS: Politics, Hesitation, Participation,Elections. I. INTRODUCTION Politics is both a study and skill as to how power is excercised, and by whom and for whose benefit. Politics is an integral part of operation of public education. Education on politics is not just about the ways of the election and governing. And it also adds to the day to day needs. It is true that there ae a lot of opportunities for people who want to take on leadership positions at political organisations. Before taking active participation in the country‟s politics. He/She should learn more about our great leaders and the contribution of each and every party for the development of the nation. Active participation is not needed as it affects their studies. They should think of getting into politics only after conpleting their qualifications. Political education is the process of influencing individuals to gain more information, insight and political skills. Thus political education encourages people to see themselves and their environment in other ways, to do other things, to do self-escalation and to improve their standard of living. So it is not expected that political education is identical with “political propaganda” or popular term “indoctrination.” Indoctrination will only show a narrow and fanatical view, so its behavior is often contrary to the actual reality encountered, even against its own conscience. Political Education for Young Generation, which states that the purpose of political education is to provide guidance to the young generation in order to raise awareness of the life of nation and state.While the other political education goal is to create a young generation who is aware of the life of the nation and state. Therefore, it seems valuable that it should be taken as one of the academic subjects in tertiar colleges and univesities. By being well informed, we can voice our opinions loud and clear. By being aware of the socio-political changes in the society, we will be able to identify the actual issues and come up with ways to resolve them. Moreover, it is important to know the different ideologies of different political parties to find out who is best suited to govern the nation. Staying updated on the curent political scenerio is always important. It is necessary that youth of the nation are aware of policies that are being adapted and decide whether to support them or not. Either way, at the root of its life the simple act of keeping our life updated on political situation around us is needed. “Political education is a process whereby people learn several matters including how to socialize within political culture, how to think and act on politics and government, how to adapt to the political process, how to shape political systems and how to make decisions”. “Political education is a process through which citizens internalize the set of values of the political system “enhances. There has been ongoing debates whether or not educational qualification should be mandatory for politicians contesting in elections. There should be minimum education required and a requirment for clean criminal record.It is important to be aware of the ideologies of our politicians and the impact their policies have. With new policies cropping up every day and impacting us, we need to understand why they are important to take into account. This understanding not only enables to criticise them but gives us a sense of responsinility.

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3

II. OBJECTIVE OF THE STUDY 1. To know the mindset of students about politics, and to conclude about students intention for opting politics as a profession. 2. To give a clear view on education on politics. 3. To generalise the importance of politics in the hands of students. 4. To explore the factors that stop young talents from entering into politics. Scope Of The Study The study gives an awareness of values in politics by communicating to students ideas of varied political systems such as democratic and dictatorial systems. The information given will be helpful in making valid decission about a particular political affair so as to either accept or reject it. Review Of Earlier Studies And Literature 1. R.G. GETTEL 2004, definedstates that education on politics includes study of the state in the past and future and of its political situations and policies 2. Robert A. Dahl 2015, delivers that political education is the understanding of power and authority to order the nation and not to rule it. 3. Aristotle 1985, says that education on politics as a governingscience that studies the good and happiness, which is the goal of everyone‟s life. Aristotle views politics as a ruling science because it guides authorities to legislate what is right to be pursued, and what is wrong that it may be avoided. Aristotle has a teleological worldview so that he explains all actions including political actions as being directed towards an end, which is the greatest and most complete good, happiness. Knowledge of the highest good is important since it guides the conduct of people in the society. 4. Karl marx 1956, says that the practical knowledge of reconstruction of society can only be done by a citizen who is educated on how to frame policies and and solving problems. When other social scientists were impliminting on how to act, karl max introduced an entirely new element by attributing to the characteristics of the economic system and to the derived relationship between social classes of a predominant influence in determining the structure of each society. Data Analysis and Interpretation 1. Chi Square Test One  H0: There is no significant relationship between gender of the respondent and their reason for hesitation to enter into politics.  H1: There is a significant relationship between gender of the respondent and their reason for hesitation to enter into politics. Table 1 what stops you from entering into politics Aggressive Total Family Not having an competition from background idea about it other parties Male 20 26 27 73 Gender of the respondent Female 2 18 8 28 Total 22 44 35 101 Table 1.1 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 8.043a 2 .018 Likelihood Ratio 8.677 2 .013 Linear-by-Linear .513 1 .474 Association N of Valid Cases 101 a. 0 cells (.0%) have expected count less than 5. The minimum expected count is 6.10. Interpretation The Table No.1 shows the frequency of the gender and their reason for hesitation to enter into politics. The Table1.1 shows the chi square value is 0.18 which is smaller than 0.05, which clears shows that the two variables i.e. the gender of the respondent and reason for their hesitation to enter into politics are interconnected to each other. With the result, we are able to conclude that the reason for male respondent‟s hesitation is that they

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3

have no idea about it though the other majority of people‟s reason for hesitation is aggressive competition from other parties. But in respect of female respondent‟s aggressive competition from other parties tend to stop them from entering into politics. 2.  

Chi Square Test 2 H0: There is no significant relationship between qualification of the respondent and their opinion on politics as a profession. H1: There is a significant relationship between qualification of the respondent and their opinion on politics as a profession. Table 2 what’s your opinion on politics as a profession Total Already an students should change or profession opt as a profession Qualification of 12th graduate 9 7 16 the Respondent Post graduate 4 17 21 under graduate Total

12 25

52 76 Table 2.1

64 101

10.127a 2

Assump. Sig. (2-sided) .006

8.889 2

.012

Linear-by-Linear Association 7.332 1

.007

Value df Pearson Chi-Square Likelihood Ratio N of Valid Cases

101

Interpretation The Table No. 2 shows the frequency of qualification of the respondent and their hesitation to enter into politics. The Table 2.1 shows the chi square value is 0.006 which is smaller than 0.05, which clears shows that the two variables i.e. qualification and opinion on politics as a profession. From the frequency table it can also be concluded that as the qualification increases the opinion on politics as a profession also drastically increases. III. FINDINGS  It is also found that if the qualification of the respondents changes his views on politics as a profession also changes.  The research has also helped to find that if the gender differs their reason for hesitation to enter into politics also changes.  It is found that majority of the respondents spend less than 15 minutes in viewing, listening, and reading political journals.  There is 99% positive result for the statement “college students should get educated in politics”. IV. SUGGESTIONS  Most of the respondents have said that students should change or opt politics as a profession, but when compared with another variable i.e. reason for their hesitation to enter into politics most of the answers were that they have no idea about it or they have a fear of opposition parties. The suggestion for this is that there are many teams to safeguard people from those threats like filing a FIR complaint, etc.  Students give less importance to reading, viewing, or earing political stuffs which is less than 15 minutes on an average which needs to change. The suggestion is that instead of spending time on unproductive matters they can spend reading political journals like newspapers, etc. To improve their knowledge to speak against it or for it. The following are some critical questions asked, to teachers and professors know the exact reality on education on politics.

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What stops you from teaching politics? Most of the respondents have said that management issues is the foremost reason for hesitation followed by not having adequate knowledge about it.  Students mature enough to be taught about politics. Most of the respondents state that they disagree to the above statement followed by neutral opinions.  Do you consider teaching politics as an important subject? Most of the answers were positive i.e. they say YES but as already said they have their own reason for hesitation to not teach politics to students.  Teaching politics wills deviate students from studies! Agreed respondents were in majority for this statement.  Politics makes a student think more rational! Teacher respondents have said yes to the given statement. Here are the suggestions in relating the views of students with that of teachers. 1. Both students and teachers strongly agree in education on politics. With the questions like „basic education is needed in politics‟ & „students should get educated in politics‟. 2. While comparing area of politics to be thought students say that they would like to be thought in Indian politics and electoral qualifications, where as teachers like to teach in electoral qualifications and economic development. 3. Students and teachers have similar mindset in their hesitation to enter into politics i.e. not having adequate knowledge about it. V. CONCLUSION In today‟s situation a study on politics and is becoming more conscious, and needed. Through political education students will be able to be in a better understanding to address the present political matters, and problems. Learning about politics and elections are not only helpful in making a career but also a basic knowledge in voting. In addition a through political knowledge enables the future aspirants to question political happinings, raise their voice against issues, etc,.Forthisreason,educational instutions should take necessary actions to add subjects related to politics for the enhancement of students and to change their view on entering politics. It is also clear that fear of opposition parties, (which is not in realilty) is the major reason for student‟s reason for hesitation. So in order to form a young political party students should break their shell and start entering into politics. VI. REFERENCES Articles and reports 1. Aristotle(1985),NicomacheanEthics.Trans.TerrenceIrwin,Polis:HackettPublishingCompany,Inc. 2. Cord,R.L.,etal(1985),PoliticalScience:Anintroduction,2nded.EnglewoodCliffs:Prentice-Hall,Inc. 3. Nwabuzor,E.J.andMarthaM.(1985),AnIntroductiontoPoliticalScienceforAfricanStudents,LondonandBasing stoke:MacmillanEducationLtd. Internet sources 4. https://en.wikipedia.org/wiki/Politics_in_education 5. https://www.mapsofindia.com/my-india/politics/should-politicians-in-india-be-educated 6. http://inpra.in/2017/04/27/interventions-and-interactions-between-politics-and-education/ 7. https://uk.sagepub.com/en-gb/eur/what-is-the-role-of-politics-in-education.

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A STUDY ON PERSONAL CARE PRODUCTS IN THE PURCHASING BEHAVIOR OF WOMEN CONSUMERS IN CHENNAI CITY V. YAGNA RAGHAVAN III B.Com A&F-“A”, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College (EVENING) (AUTONOMOUS) ABSTRACT Personal care products are a part of cosmetic industry which a consumer uses for personal purpose. The first and most important objective of my study is the buying behavior and satisfaction level of women consumers towards personal care products. The personal care products are the backbone of the cosmetic industry. The consumers are more conscious about beauty, looks, grooming and aware of western cosmetic products and brands. Major factors that influence the consumer behavior are price, ingredients, advertisements, quality etc... 100 respondents were selected at random for the purpose of this study. The collected data were tabulated and analyzed properly with frequency analysis, pie charts, ANOVA (Analysis Of Variance) and CHI-SQUARE test Keywords: consumer perception, consumer satisfaction, personal care products, purchasing power. I. INTRODUCTION In today‟s world, the consumer‟s demand and the power of retailers is tremendously growing due to competitive environment and changing business. It is vital to have a sustainable relationship with customers for the survival and success of producers. Customers purchase products based on their preferences, needs and buying power. The customer‟s purchase decision is now becoming a complex process. Consumer‟s behavior, perceptions and attitudes determine their purchase intentions. To evaluate and access a specific product, purchase behavior becomes a key point for consumers. To predict the future trends, marketing personnel are analyzing the customers buying behavior pattern. The main purpose of this research is to have a better knowledge and understanding of consumer buying behavior towards personal care products purchasing and what all are the factors influencing the consumers in purchasing those products. Women’s Behavior towards Personal Care Products Women‟s behavior towards personal care products can be explained as the analysis of how, when, what and why they buy. The study of consumer behavior involves search, evaluation, purchase, consumption and post purchase”. Understanding the behavior of consumers is a key to the success of business organizations. Market personnel are constantly analyzing the patterns of buying behavior and purchase decisions to predict the future trends. The consumer behavior is influenced with 3 aspects namely acquiring, using and disposal. „Acquiring‟ means how the consumer spends money on the products such as leasing, trading and borrowing. „Using‟ means some of the consumers use the costly products and some consumers see the quality of the product. „Disposing‟ is nothing but distribution, order or places a particular product. Purchasing Power Of Women Women handle the bulk of purchasing decisions for everyday items like groceries and clothing -even for those items targeted at men. In fact, 50% of products marketed to men are actually purchased by women. That‟s why items for men are often marketed with women in mind, as well. Women represent the largest market opportunity in the world, according to Forbes magazine. They emphasis the product in a way that it should satisfy their needs and have good quality with low or more affordable price, and should deliver them with value added features. Consumer buying pattern differ when comes to the product quality, price, status, features and packaging. Consumer Buying Decision Process The buying decision process consists of several steps, which are processes undertaken by the consumer with regard to a potential market transaction before, during and after the purchase of a product or service. They are Problem recognition, Information search, Evaluation of alternatives, Purchase action and Post-purchase actions Development of Personal Care Products Market In India Media penetration acts a chief stimulant in this aspect as it results in heightened awareness among the masses. Players continue to advertise and look to provide promotional offers in order to create visibility and awareness regarding products to further off-takes. The rural segment has also played an imperative role in the markets growth story. Majority of India‟s population resides in rural areas and the means to tap this segment assures higher margins. Indian Government has enforced certain regulations that contribute to growth in rural income. The

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3 increased level of education, increased health and hygiene awareness and media penetration to the remotest part even helps building health and hygiene awareness that leads to the use of personal care products. II. OBJECTIVE OF THE STUDY  To study about the women consumers perception towards the personal care products.  To study the satisfaction level of women consumers on personal care products. Statement of the Problem Personal care products are one of the most important needs for most of the women consumers. Personal care industry strives to satisfy the women consumers with innovative range of personal care products to meet their demands and needs. This study is to determine the women consumer‟s perception and attitude towards personal care products, how the brand loyalty influences their purchasing behavior and their satisfactory level towards personal care products. they use. Research Methodology Research methodology generally refers to the systematic procedure carried out in a research study. 100 consumers were randomly selected for the purpose of the study. The primary data were collected directly from the women consumers using personal care products through the questionnaire method. The research tools used in this study are Frequency analysis, Pie Charts, Analysis of Variance (ANOVA) and CHI-SQUARE. The secondary data is collected from some other sources such as magazines and websites. The internet was used to collect data about the various brands and product lines available in the market. Review of Literature 1. Perception and Buying Behaviour of Modern Consumers Towards Personal Care Products: Author: Swamit Gupta (2010) The researcher‟s first and most important objective is comparative study of perception and consumers buying behavior regarding personal care products. The personal care sector is one of the best and important sectors at the present time. The study of consumer behavior is the most important factor for marketing of any goods and services. This has attracted foreign companies to penetrate the Indian market. The researcher used bar charts and pie charts (statistical tools) to determine the consumer behavior towards personal care products. 2. A Study on the Consumer Buying Behavior of Personal Care Products in More Super Market, Chittoor District: Author: B. Ujwala (2012) The study is conducted to know about the consumer behavior towards personal care products in More Super market. Research shows that two different buyers buying the same product may have done it for different reasons; paid different prices; used in different ways; have different emotional attachments towards the things and so on. The study of consumer behavior is very important to the marketers because it enables them to understand and predict buying behavior of consumers in the market place. Chi-square test was used in this study. Consumer research is the methodology used to study consumer behavior; it takes place at every phase of the consumption process: before the purchase, during the purchase, and after the purchase. 3. A Study on Factors Influencing Consumer Buying Behavior in Cosmetic Products: Author: A. H. Hemanth Kumar, S. Franklin John, S. Senith (2014) The researcher investigates about the internal and external influences on consumers purchasing decisions on cosmetic products in Tamil Nadu and Kerala. The instruments of this study involved two parts: the first section of the instrument consisted of forced-choice questions about demographic characteristics (gender, marital status etc). In order to measure the influence of consumer buying behavior in cosmetics products second section variables were chosen. Descriptive statistics, including means, standard deviations were implemented in order to investigate the demographic data, one-way analysis of variance (ANOVA) were used to determine whether any significant relationships exist among respondents. Data Analysis and Interpretation

Table-1 which of the following personal care products do you use at least once a day? Cumulative Frequency Percent Valid Percent Percent Perfume

54

54.0

54.0

54.0

Body lotion Lipstick

26 5

26.0 5.0

26.0 5.0

80.0 85.0

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nail polish Sunscreen Total

6 9 100

6.0 9.0 100.0

6.0 9.0 100.0

91.0 100.0

Pie Chart Inference From the above Table 1, it is inferred that 54% of the respondents use perfume, 26% of the respondents use body lotion, 9% of the respondents use sun screen, 5% of the respondents use lipstick and 5% of the respondents use nail polish at least once a day. Anova (Analysis Of Variance) Discounts and offers provided by company values women consumers in purchasing personal care products. Table-2 Anova (Sig.) Sum of Squares Df Mean Square F P.value Between Groups

11.622

5

2.324

Within Groups

83.818

94

.892

Total

95.440

99

2.607 .030

Inference H0: Null Hypothesis: There is no significant difference between two variables „Discounts and offers provided by company values women consumers in purchasing personal care products‟ and „income‟. H1: Alternate Hypothesis: There is significant difference between two variables „Discounts and offers provided by company values women consumers in purchasing personal care products‟ and „income‟. From the above Table 2, the value of P is 0.030 which is lower than the level of significance i.e. 0.05, hence there is a significant difference between „Discounts and offers provided by company values women consumers in purchasing personal care products‟ and „income‟ Conclusion Therefore accept Alternate (H1) hypothesis and reject Null (H0) hypothesis. Anova (Analysis Of Variance) Which of the following factors you will consider while purchasing personal care products [Quality] Table-3 Anova (Sig.) Sum of Squares Df Mean Square F P.value Between Groups

3.151

5

.630

Within Groups

16.849

94

.179

Total

20.000

99

3.515 .006

Inference H0: Null Hypothesis: There is no significant difference between two variables „Which of the following factors you will consider while purchasing personal care products? [Quality]‟ and „Which brand do you prefer while purchasing personal care products?‟

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3 H1: Alternate Hypothesis: There is significant difference between two variables „Which of the following factors you will consider while purchasing personal care products? [Quality]‟ and „Which brand do you prefer while purchasing personal care products?‟ From the above Table3, the value of P is 0.006 which is lower than the level of significance i.e. 0.05, hence there is a significant difference between the variables „Which of the following factors you will consider while purchasing personal care products? [Quality]‟ and „Which brand do you prefer while purchasing personal care products?‟ Conclusion Therefore accept Alternate (H1) hypothesis and reject Null (H0) hypothesis. CHI-SQUARE Which brand do you prefer while purchasing personal care products? Table-4 Case Processing Summary Cases Valid N Which brand do you prefer while purchasing personal care products? * age

100

Missing

Percent N Percent

100.0%

0

.0%

Total N

Percent

100 100.0%

Table-4 Which brand do you prefer while purchasing personal care products? * age Cross tabulation Age COUNT Total below 18 18-22 years 22-30 years 30-40 years Above 40 years L'Oreal Paris 0 13 3 10 5 31 Which brand do Garnier 0 5 4 0 1 10 you prefer Maybelline 0 5 6 3 2 16 while purchasing Olay 1 2 2 0 2 7 personal care Nivea 0 7 15 3 6 31 products? Pantene 0 2 1 1 1 5 Total

1

34 31 17 TABLE-4 Chi-Square Tests Value Df Asymp. Sig. (2-sided) Pearson Chi-Square 33.548a 20 .029 Likelihood Ratio

28.988 20

Linear-by-Linear Association .102 N of Valid Cases

1

17

100

.088 .749

100

Inference H0 = Null Hypothesis i.e. There is no association between two variables „Which brand do you prefer while purchasing personal care products‟ and „age of the respondents‟. H1 = Alternate Hypothesis i.e. There is an association between two variables „Which brand do you prefer while purchasing personal care products‟ and „age of the respondents‟. From the above Table 4, we can infer that the value of chi-square is 0.029 which is less than the significant value 0.05. Therefore there is an association between the two variables „Which brand do you prefer while purchasing personal care products‟ and „age of the respondents‟. Conclusion Therefore accept Alternate (H1) Hypothesis and reject Null (H0) Hypothesis. III. FINDINGS 1. Majority of the respondents use „perfume‟ at least once a day. 2. Maximum of respondents are satisfied using personal care products.

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3 3. 4.

Discounts and offers attracts women consumers to purchase personal care products Quality and ingredients of personal care products were considered as major factors which influence consumers in their buying decision. 5. Majority of the respondents prefer the brands L‟Oreal Paris and Nivea while purchasing personal care products. IV. SUGGESTIONS Women consumers strongly consider the “Quality” as a major factor while purchasing personal care products. Consumers expect quality products at a reasonable price. The brands should increase the information and give to customers about the benefits of using natural ingredients, the difference between natural and organic ingredients and spread awareness about the actual benefits of using products which use these ingredients. In order to improve the demand pattern of personal care products, the channel of distribution should be effective. Discounts and offers provided by company attract women consumers to purchase personal care products. Businessmen should take steps to bring down the prices of cosmetics, as all the consumers are influenced by price. V. CONCLUSION The ever increasing population makes the use of cosmetics multiply considerably; so marketing of cosmetics becomes competitive. It is the duty of the Government, manufacturers and middlemen to supply these necessaries of life available in a fair price. If all the suggestions and findings of this study are listened and carried out, no doubt the demand pattern of cosmetics will hold well not only in and around Chennai city but also in all over Tamil Nadu, where even people living in villages could also enjoy these benefits. Thus marketing both in rural and urban areas would have a bright future in the days to come. VI. REFERENCES WEBSITES 1. https://www.slideshare.net/swamitgupta/perception-and-buying-behaviour-of-modern-consumers-towardspersonal-care-products 2. https://www.researchgate.net/publication/288990545_Consumer_Attitudes_and_Perception_on_Personal_c are_Products_and_Cosmetics_at_Visakhapatnam_India 3. https://www.academia.edu/3572748/A_STUDY_ON_THE_CONSUMER_BUYING_BEHAVIOR_OF_P ERSONAL_CARE_PRODUCTS_IN_MORE_SUPER_MARKET_CHITTOOR_DISTRICT 4. http://www.allresearchjournal.com/archives/2017/vol3issue6/PartO/3-6-199-435.pdf 5. http://apjor.com/downloads/0403201633.pdf

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A STUDY ON VENTURE CAPITAL FINANCING IN CHENNAI CITY A. JAGAN Final year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College (Evening) (Autonomous), Mylapore, Chennai – 600004 ABSTRACT The meaning of venture capital according to SEBI, it means a fund established in the form of a company or trust, which enhances capital in the form of money through loans, issue of securities, donations and makes investments in accordance with these regulations. Itis the fund provided by specific firms interested to invest in new and innovative companies possessing a considerable amount of risk. Such companies, also known as venture capitalists, not only provide seed funding to the prospective venture, but also help the entrepreneurs in many ways with regard to visualizing and forming their ideas into a viable business. The current paper will focus on the impact of venture capital in India, followed by its mechanism, and perception of people with regard to venture capital financing and awareness of the same. KEYWORDS: Capital, Ventures, Business, Entrepreneur. I. INTRODUCTION Venture capitalists are people who pool financial resources from high net worth individuals, corporate, pension funds, insurance companies, etc. to invest in high risk high return ventures that are unable to source funds from regular channels like banks and capital markets. The venture capital industry in India has really taken off in. Venture capitalists not only provide monetary resources but also help the entrepreneur with guidance in formalizing his ideas into a viable business venture. All is money provided by professionals who invest in rapidly II. OBJECTIVES OF THE STUDY  To study the impact of venture capital in economy.  To determine the reason for slow growth of venture capital in Chennai city.  To examine on the different stages of venture capital.  To check the awareness level of venture capital among people in Chennai city. Limitations of the Study  Probability of losing the control In many cases venture capitalists may exercise a significant control over the enterprise as their investment is at high risk.  Uncertainty Sometimes a venture capital firm may think that the decision being taken by the business owners may not worth anymore, in such circumstances they may not be willing to invest any additional funds if required to back up the business. Review of Literature 1. Kumar and Kaura (2003), this study found out that a sustained effort was continuously required in the target market which was highly meticulous. This research concluded that Indian venture capitalist do not seemed to be based in favor of high technology ventures and also the numbers of successful ventures were not hi-tech. 2. Selvakumar and Ketharaj, (2009) has given the inherent strength by way of its human capital, technical skills, cost-competitive workforce, research and entrepreneurship. India can unleash a revolution of wealth creation and rapid economic growth in a sustainable manner. There is a need for risk finance and venture capital environment which can leverage innovation, promote high-fi technology and harness knowledgebased ideas. 3. Groh, A. P. and Von Liechtenstein, H. (2011), contributed to the knowledge of the capital flow from institutional investors via venture capital funds as intermediaries to their final destination, entrepreneurial ventures. They found the top criteria to be the expected deal flow and access to transactions, a venture capital fund's historic track record, entrepreneur local market experience, the match of the experience of team members with the proposed investment strategy, the team's reputation, and the mechanisms proposed to align interest between the investors and the venture capital funds. 4. T. Patil, Dr. V. N. Sankar, and Dr. Mahilika A. Sonawane. (2016),Venture Capital industry in India is growing faster due to favorable economic conditions and conducive business environment. Entrepreneurial background, ideaproduct viability, business sustainability and competition are the major determinants on demand side considered by venture capital firms in screening of proposal for investment. And finally, the

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3 study also reveals that investors are looking for managerial control in the venture where they are going to invest as their investments are at risk in early and growth stage. Demographics

Category Male

Gender

Age

Qualification

Occupation

Annual Income

Frequency

Percent

42

84.0

Female

8

16.0

Total

50

100.0

Less Than 20

13

26.0

20-30

30

60.0

30-40

5

10.0

40-50 Total

2 50

4.0 100.0

Higher Secondary

7

14.0

Under Graduate

25

50.0

Post Graduate

8

16.0

Professional

10

20.0

Total

50

100.0

Public Sector

6

12.0

Private Sector

12

24.0

Self Employed

7

14.0

Professional Course

11

22.0

Others

14

28.0

Total

50

100.0

Less Than – 100000

28

56.0

100000 – 200000

10

20.0

200000 – 300000

11

22.0

300000 – Above

1

2.0

Total

50

100.0

Analysis and Interpretation Anova Analysis Q. There Are Certain Issues, which are Considered while Deciding on Venture Capital Investments Some which are given Below. Do You Think Their Important (Features of the Deal) Table: 1

Between groups

Some of squares

DF

Mean square

F

Sig.

2.078

4

.520

.379

.823

61.702 45 1.371 Within groups 63.780 49 Total Table shows the value of “F” and its significant value. It is cleared from the table that significant value is greater than 0.05. Hence it is proved that there is no difference between two variables.

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3 Q. What Problems Are Faced With Venture Capital Funds? (Venture Capital Is A Costly Source of Raising Capital)

Between groups Within groups Total

Some of squares

DF

Mean square

F

Sig.

2.138

4

.534

.372

.828

64.742

45

1.439

66.880 49 Interpretation From the above table, the significant value is greater than 0.05. Hence it is proved that there is a difference between two variables. One Sample T-Test Table: 3 One-Sample Test Test Value = 0 99% Confidence of the Interval Sig. (2Mean T Df Difference tailed) Difference Lower Upper Venture capital finances only 17.035 49 .000 3.180 2.68 3.68 high technology firms. Interpretation From the table we inferred that there is the facility of venture capital available only for high technology firms with 99% of the confidence level. We conclude from that venture capital is not available to lower level firms. Correlation Table: 4 Correlations Characteristics of the Venture capital can help in target market the economic development. Pearson 1 .374** Characteristics of the target Correlation Sig. (2-tailed) .007 market N 50 50 Pearson .374** 1 Correlation Venture capital can help in Sig. (2-tailed) .007 the economic development. N 50 50 Interpretation From the above table the significant value is Less than 0.05. Hence, it is clear from the table that is inferred that there is relationship between characteristics of the market and help full in economic development. III. FINDINGS 1. IN ANOVO ANALYSIS : From the above table, the significant value is greater than 0.05. Hence it is proved that there is no difference between two variables. 2. IN MEAN A STD.DIVIATION: From the Table above, it can be inferred that the responses for the respective variables are predominantly being agreed upon, suggesting that most of the respondents dofeel that such disadvantages of venture capital are prevalent. This means such issues in venture capital need to be addressed.

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Contemporary Issues in Business, Banking and Finance ISBN: 978-93-87756-82-3

3.

ONE SAMPLE T-TEST : From the table we infer that there is the facility of venture capital available only for high technology firms with 99% of the confidence level. We conclude from that venture capital is not available to lower level firms. 4. CORRELATION: From the above table the significant value is less than 0.05. Hence, it is clear from the table that is inferred that there is relationship between characteristics of the market and help full in economic development. IV. SUGGESTIONS 1. Many venture capital companies in Chennai city do not have the competence in reviving sick industrial units. So, government should take care of sick unit residing in around Chennai city. 2. The major reason for slow growth of venture capital financing is lack of understanding about it. 3. The government should create proper awareness among students and investors. 4. Venture capital companies can also provide financial assistance in the areas of management and marketing. 5. Government can reduce tax disputes. 6. From the study it is found that venture capitalist is unapproachable. Therefore, there should be necessary steps need to be take to make them approachable. V. CONCLUSION The current times demand a lot of innovation and change in the very aspect of business. Startups and new businesses are on the rise in the present generation. It is hence necessary promote the proper growth of venture capital in our nation to fuel new businesses and bring in greater positive change in the economy. Active support from government and venture capitalists will help enhance and motivate the uprising of newer and more efficient companies. VI. REFERENCES 1. https://www.researchgate.net/publication/326173096 2. https://www.google.com/search?q=%22SELVAKUMAR%20AND%20KETHARAJ,%20(2009)%20has% 20given%20the%20inherent%20strength%20by%20way%20of%20its%20human%20capital,%20technical %20skills,%20cost-competitive%20workforce,%20research%20and%20entrepreneurship.%22 3. https://www.google.com/search?q=%22Venture%20capitalists%20are%20people%20who%20pool%20fin ancial%20resources%20from%20high%20net%20worth%20individuals,%20corporate,%20pension%20fun ds,%20insurance%20companies,%20etc.%22 4. https://www.google.com/search?q=%22KUMAR%20AND%20KAURA%20(2003)%20This%20study%20 found%20out%20that%20a%20sustained%20effort%20was%20continuously%20required%22 5. https://www.ibef.org/industry/financial-services-india.aspx Other References 1. Financial Services Paperback – 1 Jul 2017 by Renuka Sharma (Author), Kiran Mehta (Author). 2. Financial Services Paperback – 1 Jul 2015 by M.Y. Khan. 3. Financial Services , Margham publication by B SANTHANAM

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COST AND BENEFIT ANALYSIS OF BUS TRANSPORT SERVICE, IMPACT ON SAVINGS AND INCOME IN CHENNAI DISTRICT V. J. HEMANTH KUMAR Final year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College, Evening College (Autonomous) Mylapore, Chennai – 600004 ABSTRACT This paper outlines the vital role contend by transport to satisfy the demand of business and social life. This paper reviews the kind of bus services, quality of service within the bus operation that influences the traveller decision and conjointly the role of bus provider and driver. An improved understanding of the bus operation is vital for a well-managed bus services. Maintaining a high customary of quality in service and performance is of more importance to encourage individuals to create public transport their most popular alternative. Maintaining and enhancing transportation system service in Indian cities is vital, to satisfy quickly growing mass quality wants, and curb personal motorized vehicle activity and its impacts at low price. Indian cities trust preponderantly on buses for transport and are seemingly to still do therefore for years. However, the general public bus transit service is insufficient and unaffordable for the urban poor. The paper explores the factors and analyse the money and operational performance of the general public bus transit services. Overall, there have been persistent losses, due to increasing input prices and declining productivity. KEY WORDS: Transportation system, quality of bus services, conveyance of bus services. I. INTRODUCTION In precedent days, individuals were thus poor that they lined long distances on foot. Palanquins, additionally referred to as palkis, were one amongst the luxurious ways utilized by the made and noblemen for movement. Bullock carts are historically used for transport, particularly in rural Asian country. Within the 20th century, the previous modes of transport, the cart and therefore the carriage were still used. The new additions particularly within the north of Asian country were all horse drawn. They were the Tonga, ekka and shikram a box-like four wheeler. Hand drawn and hand pushed carts were additionally used for transfer folks and merchandise. Buses square measure a very important suggests that of convey a Asian country, significantly within the countryside and remote areas wherever the rail network cannot be accessed and airline operations are few or non-existent. Thanks to this social significance, public bus transport is preponderantly in hand and operated by public agencies, and most state governments operate bus services through a State Road Transport Corporation II. OBJECTIVE  To determine the effect of transport during the festival season  To determine the relationship between the cost and comfort  To determine the impact of transport services through voting the factor  To obtain public opinion on transport services in Chennai Rationale of the Study This study is basically conducted to get the consumer’s perception for the services of the Bus transport in Chennai. This study will help to determine the effects of Bus services in the livelihood of people in Chennai in various dimensions like savings, convenience, preferences of travel, maintenance, etc. Data Collection Primary data has been collected through questionnaire. The questionnaire has been distributed through Google forms. Sample Design 150 consumers response have been collected by convenient sampling method. Tools Used The data collected has been analysed by using SPSS software wherein correlation, frequency, mean, Chi-square and ANOVA. Hypothesis of The Study  H 01: Facilities in new buses ≠ cost efficient in new buses.  H 02: Difficult to travel in bus on festival season = price fluctuation of cost on bus during festival season.  H 03: Cheapest price in bus services ≠ bus service is reliable.  H 04: Gender ≠ transport preference of travel. Limitations  Due to lack of time only 150 respondents have been collected  Due to issues in data collection dimensions of the study has been limited to savings, services, benefit, etc.

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Review of Literature 1. Saha Amitesh, (2016) “Cost and Benefit Analysis of Free Public Transport In Pune”. Transport systems have vital impacts on the surroundings, accounting for between 20% and 25% of world energy consumption and greenhouse emission. Greenhouse gas emissions from transport are increasing at quicker rate than the other energy mistreatment sector. Road transport is additionally a significant contributor to local pollution and air pollution. Cities with overbuilt roadways have old unplanned consequences, connected to radical drops publically transport, walking, and sport. 2. Badami Madhav G., Haider Murtaza, (2007), “An Analysis of Public Bus Transit Performance in Indian Cities”. Both operational prices and traffic revenues per passenger-kilometer were systematically higher within the secondary cities than within the metropolitan centers. Whereas traffic revenues inflated at constant rate as within the metropolitan centers, operational prices per passengerkilometer inflated earlier within the secondarycitiesafter1995–96. A price associated with personnel was pre-dominant, followed by diesel prices. 3. Bodapati Radhakiranmyee, (2004), “Comparative Analysis of Mass Transportation Systems”. Mass transportation may be a significant factor that serves the travel desires in most of the cities throughout the globe. However, the usage of mass transportation systems is comparatively high in developing countries, like Republic of India, wherever the bulk of the population cannot afford to possess an automobile. The analysis bestowed within the thesis addresses the explanations why there's an oversized demand for mass transportation in Hubli, Republic of India and also the lack of demand for mass transportation services provided by Citi bus, Lubbock. The state of Karnataka provides constant resource to KSRTC from its state's funds. KSRTC has extended autonomy in creating its plans and implementing policies. 4. Pucher John, Koratty swaropam Nisha, Mittal Neha, Ittyerah Neenu, (2005), “Urban Transport Crisis in India”. Indeed, many Central Government policy documents indicate a predominant priority for more developing the growing Indian industry because the most significant live for promoting overall economic process and employment in India (Ministry of heavy Industries and Public Enterprises, 2002). A definite a part of that strategy is that the stimulation of most doable growth in automotive possession and use, each through new route construction and provision of sample automobile parking. The hyperbolic automotive use that might generate would hardly facilitate solve the various issues India’s cities already face with travel demands so much surpassing the capability of the transport system. 5. Munzilah Md. Rohani, Devapriya Chitral Wijeyesekera, Ahmad Tarmizi Abd. Karim (2013), “Bus Operation, Quality Service and the Role of Bus Provider and Driver”. Specifically, it summaries the flow however rider feedback on bus service is employed to enhance or upgrade the standard of service. The method starts once bus supplier processes customer comments to work out what they expect from the service. At this stage client input is applied as a guide to line up any action to enhance the service. The enhancements embrace driver coaching, bus maintenances, new or upgraded technology and connected aspects. Data Analysis & Interpretation The data collected from the respondents i.e., the beneficiaries in Chennai district was analysed by using various statistical tools. Table 1 Value Asymp. Sig. (2-sided) Pearson Chi-Square 7.066a Source: Primary data

.008

Confidence Level: 95% Critical value (α): 5% or 0.05 Table value: 0.008 The table 1 shows the value of Chi square and its significant level. It is clear from the table that the significant value is less than 0.05. Hence it is inferred that there is an association between cheapest price in bus services and bus service is reliable. It can also be said that the selected cheapest price in bus services with respect to their reliability. Correlation between Facilities satisfied in new buses and cost efficient in new buses on table4.01

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Table 2 Correlation on Facilities satisfied in new buses and cost efficient in new buses

Pearson's Correlation Source: Primary Data

Value

Approx. Sig.

.428

.000c

Confidence Level: 95% Critical value (Îą): 5% or 0.05 Table value: 0.000 Correlation value: .428 or 42.8% which indicates a strong positive correlation between Facilities satisfied in new buses and cost efficient in new buses by passengers. GRAPH 1

Interpretation The table 2 shows the value of correlation and its significant level. It is clear from the table that the significant value is less than 0.05. Hence it is inferred that Facilities satisfied in new bus = cost efficient in new buses indicates a strong positive correlation between Facilities satisfied in new buses and cost efficient in new buses by passengers. III. FINDINGS 1. It is found that there is a relationship between Facilities satisfied in new buses and cost efficient in new buses. 2. It is found that there is a relationship between the difficult to travel in bus on festival season and price fluctuation of cost on bus during festival season. 3. It is found that there is an association between cheapest price in bus services and bus service is reliable. 4. It is found that there is no association between gender and transport preference of travel. IV. SUGGESTION 1. Proper maintenance of buses of both private and Government transport. 2. Checking of rash driving between the busses irrespective of private or Government should be checked rapidly. 3. Price fluctuations during the rush hours should be taken into consideration related to festivals or other occasions to be monitored by the concern heads of the transport authority. 4. Behaviour of the driver and the conductor should be monitored by concern heads of the transport authority. 5. Conveyance in Government buses should be developed compared to private 6. Ticketing system both in private and Government should be made user friendly to the ticket booker. 7. Both in private and Government transport comfortness of the bus should be improved. 8. Violating passengers should not be allowed inside the buses, to maintain the decorum. 9. Changing of routes on their willingness of both driver and conductor should be strictly avoided. 10. Creating trademark forensic check to properly ensure that customers are not getting cheated. 11. Frequency of buses during rush hours should be increase for the convenience of passengers. 12. To make a single portal for all private buses for reserving the seats. 13. Proper checking of in & out of buses should be recorded on the bus stands.

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V. CONCLUSION Sustainable transport systems make a positive contribution to the environmental, social and economic sustainability of the communities they serve. Transport systems exist to provide social and economic connections, and people quickly take up the opportunities offered by increased mobility with poor householdsbenefiting greatly from low carbon transport options. The advantages of increased mobility need to be weighed against the environmental, social and economic costs that transport systems pose. The performance of public bus service will be affected largely by quality of service. In areas in which public buses is highly accessible, operation performance improvements may be required. Improving factors will help to encourage people to shift from private to public transport. VI. REFERENCES 1. Saha Amitesh, (2016) “Cost and Benefit Analysis of Free Public Transport In Pune”.https://www.slideshare.net/AmiteshSaha/cost-and-benefit-analysis-of-free-public-transport-inpune?from_action=save. 2. Badami Madhav G.,Haider Murtaza, (2007), “An Analysis of Public Bus Transit Performance in Indian Cities”. https://www.researchgate.net/publication/222693611 3. BodapatiRadhakiranmyee, (2004), “Comparative Analysis of Mass Transportation Systems” 4. PucherJohn, KorattyswaropamNisha, MittalNeha, IttyerahNeenu, (2005), “Urban Transport Crisis in India” 5. Munzilah Md. Rohani, Devapriya Chitral Wijeyesekera, Ahmad Tarmizi Abd. Karim (2013), “Bus Operation, Quality Service and the Role of Bus Provider and Driver”. https://ac.els-cdn.com/S1877042814000743. 6. https://tnsta.gov.in/accident analysis 7. http://www.setc.org.in/setc-fare-concession.php 8. http://www.tn.gov.in/sta/t2.html rate of tax to be paid 9. http://www.tn.gov.in/sta/eng%20cc/contract4.html details needed to apply omnibus permit 10. https://tnsta.gov.in/static_enforcement.jsp class wise safety enforcement work.

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STUDY ON SHADOW BANKING: A THREAT TO COMMERCIAL BANKS K.R.SHRREYAS RAGHAVAN Final Year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai 600004 ABSTRACT The concept of credit growth by shadow banking industry thought not by the exact term dates back to the year 1935 which was defined by Friedrich Hayek. As the years progressed several other authors defined this Shadow Banking industry but there still exist a dilemma in defining what exactly this industry is and what activities they perform. There is also no clear awareness about Shadow Banks in the market among general people about the industry and the activities they perform. Thus, in this research paper a detailed analysis has been conducted to study about the awareness to the general public about the shadow banking industry and to find if this industry is a threat to the Commercial Banks.The responses have been obtained from 51 people through a questionnaire in Google forms. The collected data has been analyzed by using SPSS software wherein chi square, correlation, frequency test & Anova has been used. From this paper it can be found that the industry has not marketed itself as done by the Commercial Banks and also there exist a market and support for this industry from the general public and if guided in the right manner can be a major threat to the Commercial Banks. I. INTRODUCTION Commercial Banks are those financial institutions that provides credit and accepts deposits from general public. Banks also perform lending activities in the markets either on their own or through agents. Shadow banking on the other hand means that financial intermediation takes place differently from commercial banks, and is largely carried out by institutions other than banks. These parties together form an intermediation chain in which credit & liquidity transformation takes place. Definition of Shadow Banking It has been studied that there areno common agreed definition of the term shadow banking. However, a frequent and consistent description of the phrase is of crucial importance. If regulating the shadow banking industry must be effective, it must be applied on clearly defined entities otherwise a potential for regulatory indifference emerges. Therefore, the discussion about the definition is said to be an important factor. Shadow Banking System in India With respect to its foreign competitors, the size of shadow banking system is comparatively smaller in India. Due to the conservative banking practices, shadow banks have been under constant regulatory surveillance. Moreover, many activities that contributed to the global financial crisis are either not allowed. Complex and synthetic derivative products that were responsible for the global crisis are presently not permitted in India. Not with-standing the regulatory forbearance, Indian banking system too remains vulnerable to shadow banking practices. However, in our country the Non-Banking Financial institutions epitomize the shadow banking system as they do bank-like credit works outside the ambit of the banking regulation. Today, NBFC is the fastest growing industry in Indian financial sector with an annual growth higher than that of the banking sector. II. OBJECTIVE OF THE STUDY  To Study about the awareness of Shadow Banking Industry to general public.  To Study if such Shadow Banks are really a threat to Commercial Banks. Research Methodology Data Collection Primary Data has been collected through questionnaire. The questionnaire has been Distributed through Google forms. Area of Study The present study is confined to individuals who have a sufficient knowledge about the shadow banking industry Sample design 51 individual responses have been collected by convenience sampling. Tools used The data collected has been analysed by using SPSS software wherein correlation, chi – square test, frequency test has been used.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Review of Literature Topic: Role of Non-Bank Financial Intermediation Author: B. Shrestha Date: 27 August 2014 In this study it was studied that the increasing level of intermediation activities of the shadow banking industry (non-bank financial intermediaries) caused a shift in the deposits from commercial banks to nonbanking companies in South-East Asian Countries. It is also found that since the deposits made in the NBFC’s are not included in the monetary aggregates, the conduct of monetary policy weakens for the government, which follow the monetary targeting framework. Topic: Which Factors drive Shadow Banking? Author: Sophia Alhusen Date: 10 August 2016 This study is all about the factors that drive The Shadow Banking industry. Shadow banking, in this analysis, used the flow of fund measure. It finds that in emerging countries, the growth in shadow banking is mainly associated with increased demand of institutional investors for low risk, high yield investments. In developed countries, the shadow banking industry's size is related to the state of the traditional banking system. This study not only covers just the factors that drive the industry but also the emergence and the growth of the industry. It is said that the evolution of the industry started off mainly after the Great Depression when so called government-sponsored enterprises were founded in 1932 by the Federal Home Loan Bank (FHLB) system. The goal of this system was to provide relief to distressed banks and homeowners and had the general objective to support the financing of houses. It talks about different kinds of investments and the returns they yield and also the demand and supply for such credit by this industry. In this study null hypothesis is conducted and if proved to be true, a pooled cross-sectional analysis is conducted. The second method used is fixed effect (also called least square dummy variable estimator) and random effect model. The analysis shows that shadow banking in emerging and developed countries is driven by different factors. Developed countries' shadow banking is larger during times of crises, which confirms existing empirical research. Topic: What Is Shadow Banking? Author: StijnClaessens and Lev Ratnovski Date: February 2014 This study is about defining what shadow banking is all about. It uses the definition given by the FSB as a useful benchmark as to what shadow banking is.The study however feels that there are two weaknesses in the definition given by the FSB. The study also clearly differentiates between the different intermediate Financial Activities done by institutions, shadow banks and market entities. There are three other definitions based on different tests which gives us a clear understanding about shadow banking as a process and their functions. This study sets up a base for future research and data collections regarding shadow banks. Topic: The Rise of Shadow Banking Author: Bc. Michaela Dovicov Date: 2013/2014 academic year In this case it stated that the financial crisis in the year 2013 resulted in a global financial instability pointed out at the importance of growth of the shadow banking industry in U.S and Europe. In the thesis, it studied the theoretical background of shadow banking, its regulation and supervision. The Heteroscedasticitycorrected estimation method was used in this thesis to evaluate and was proved that rising assets under MMF management have negative impact on total repo transactions in both the studied countries. Data Analysis & Interpretation The data collected from the respondents i.e., the beneficiaries in Chennai district was analysed by using various statistical tools such as correlation, chi – square test,frequency testing SPSS software. H0: There is no significant relationship between the level of agreement by the respondents on sufficient recognition to the shadow banking industry in India and whether the interest rates provided by shadow banks are competitive. H1: There is significant relationship between the level of agreement by the respondents on sufficient recognition to the shadow banking industry in India and whether the interest rates provided by shadow banks are competitive.

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Interestrates provided by shadow banks are competitive Enough recognition to shadow banking is given in india

Interestrates Provided By Shadow Banks are Competitive

Enough Recognition To Shadow Banking is Given in India

1

.268

Pearson Correlation Sig. (2tailed) N Pearson Correlation Sig. (2tailed) N

.057 51

51

.268

1

.057 51

51

Interpretation This table analyses the relation between whether competitive interest rates provided by shadow banks and whether enough recognition to shadow banking is given in India using Correlation as a tool.By analysing the table it shows that the value of Correlation and its significant level. It is clear from the table that the significant level is just a little more than 0.05. Hence it is inferred that there is a relationship between 2 variables so analysed. H0: There is no significant association between the institution from which they procure their loans from and the educational qualification of the respondents H1: There is a significant association between the institution from which they procure their loans from and the educational qualification of the respondents Qualification * From what kind of Institutions do you Prefer Procuring your loans from Cross tabulation Count From what kind of Institutions do You Prefer Procuring your Loans From Investme Contractua nt Commerci Tot Depository l al institutio al Banks institutions institutions ns HDFC, - IDBI, UTI - Insurance Investme ICICI companies nt banks High School 0 0 0 10 10 Diploma 0 0 1 0 1 Qualificati U.G.Degree 2 1 0 17 20 on Professional 4 1 1 14 20 Course Total 6 2 2 41 51 Chi-Square Tests

Pearson Chi-Square Likelihood Ratio Linear-by-Linear Association N of Valid Cases

Value

df

Asymp. Sig. (2-sided)

29.429a 13.914 3.258 51

9 9 1

.001 .125 .071

Interpretation This table analyses the relation between the Educational Qualification and the institution from which they procure their loans from using Chi-Square as a tool.This Table shows the value of Chi-square and its significant level. It is clear from the table that the significant level is less than 0.05, that is 0.001. Hence it is inferred that the Educational Qualification and the institution from which they procure their loans fromand there existan association between the two variables compared in this study.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 III. FINDINGS AND SUGGESTIONS 1. From collecting the primary data and analysing it thoroughly, I could observe that this industry do have a market to a certain extent in India and are also receiving a positive response with regard to the expansion of it in a larger scale 2. By analysing the data, I could find out that the Shadow Banks are acting as a threat to the Commercial banks to an extent and also have a great deal of potential to seep through into the market very quickly and be a major threat to the commercial banks. 3. The Shadow Banking industry has not been popularized among people on a large scale and hence is not found to be very much known to the general public as it is done in the case ofbanks. 4. The people fear that the non-existence of a governing body of this industry would result in financial instability and loss for their investment in Shadow Banks. 5. Amidst the different institutions that form part of the Shadow Banking industry, Gold Loan Institutions and Non-Banking Financial Institutions have a greater deal of recognition and support from the public in order to procure their loans from other than from Commercial Banks which are still on top. 6. It can be found out that the Shadow Banking Industry is preferred by the respondents mainly because they are easier to approach and also for their speedier transaction process. 7. One of the biggest concerns of the Shadow Banking Industry is that they haven’t marketed themselves as much as commercial banks do. Hence, promotions of themselves in the market must be done in a higher scale in order to gain an even larger market share than at the present. 8. Stringent regulations or a Body must be appointed to regulate the Shadow Banks to a certain extent which could gain the trust of the public with regard to procurement of loans and other services they provide. 9. Acceptance of deposits can also be brought into the working of the shadow banks, henceforth developing themselves and also making this a bigger business in the society. 10. The Shadow Banks can have tie-ups with other institutions to procure investors at lower rate of interests and can find people who are ready to accept services other than providing of loans that they perform. IV. CONCLUSION In this project, the study was all about the shadow banking system, its definition, its activities and also entities that are involved. It could be understood that the biggest issues faced by the shadow banking industry is the systemic risk and other types of risks. Also, it could be found out that the data availability regarding shadow banking activities is still an unsolved issue. We can see that these issues and problems are faced and being tackled mainly by the Financial Stability Board. It can be concluded that this Industry has a huge potential to compete and act as a major threat to Commercial Banks when directed and regulated in the right manner under the right guidance. V. REFERENCES 1. Dr. N. NANDINI & Dr. M. JEYANTHI, Concept of Shadow Banking in India, Volume-3, Issue-11, Nov Special Issue-2014, ISSN No 2277 – 8160 2. STEVEN L. SCHWARCZ, REGULATING SHADOW BANKING 3. Karel Kabelík, 2012, Shadow Banking 4. Menno Broos, Jan Kakes, KritKarlier and Eric Klaaijsen, DNB Occasional Studies, Vol.10/No.5 (2012)

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THE STUDY ON CONSUMER ADDICTION IN RELATION TO MOBILE PHONES WITH SPECIAL REFRENCE TO CHENNAI REGION S. ASWATH NARAYANAN Final Year, Department of Accounting and Finance Ramakrishna Mission Vivekananda College, Evening College (Autonomous) Mylapore, Chennai-600004 ABSTRACT There is a lot of mayhem prevailing in the society regarding the welfare of people in relation to usage of mobile phones at a large extent. In spite of being aware of the havoc results that is present at the current period regarding too many dreadful side effects (i.e. Male infertility, brain tumors, benign tumor (non-cancerous tumor), ear hearing function, neural defects, etc..,), not sufficient attention has been given by the public (or in other words mobile phone consumers) or by the mobiles manufacturers (by way of conducting social awareness) towards this complicated issue. Companies on the other hand, are considering this (addiction cause) as a utilitarian strategy to enhance their profitability level. Hence based on the above stated issue a survey is conducted among the public on random basis to analysis about the notion of the people on this specified issue. I. INTRODUCTION Since the introduction of cell phones to the world, the anomalous use of smart phones has been called into question whether its usage could lead to addiction. This problem is often identified as a behavioral addiction just like addictions to food, shopping, gambling, video games, work, and the internet. It is worth to note that behavioral addiction is different from substance addiction like drugs and alcohol. For substance addiction issue, there are clear changes in the addicts’ daily lifestyle and interferences. On the other, behavioral addiction like the addiction to cell phone shows no clear or direct signs of any interference to the addicts’ lifestyle. II. OBJECTIVES  To find whether the mobile phones have taken a vital position in the routine life of consumers.  To what extent the younger generations have got addicted to mobile phones when compared to the senior age consumers.  To know whether the mobile companies has taken satisfiable remedial measures to overcome this addiction cause. Scope  Finding too much of time spending with mobile phone.  Feeling impatient when not having mobile phone.  Finding whether the companies consider this addiction cause as a way for marketing their products(mobiles) at large in the market to generate an enormous profit Sampling Method “Simple Random Sampling” methodology for conducting the survey among the public has been followed for the process of collecting data (via. Questionnaire forms).\ Sample Size The survey is conducted within a group of 50 members as total sample size living in and around the neighborhood and also from public living near with respect to geographical location (nearby residential area). Statistical Tools For testing the level of significance for the collected samples the following tools will be used:  Anova  Correlation  Frequencies analysis  Mean analysis  Independent sample T-Test Review of Literature Alison.G.Walton: In this article the author speaks about the phone “Phone Addiction and its Mental Causes” and this article was published in the Forbes business magazine in the year 2017. Jayanti P.Acharya: In this article the author has done an elaborate study on “Some Common Health Effects on Cell phones”. Seong-Soo Cha: In this article a comprehensive study on “Smartphone Use and Addiction in Middle School

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Students in Korea” has been done. Dr.Vandana Goswami, Dr. Divya Rani Singh: The author has made a detailed study on “Impact of Mobile Phone Addiction on Adolescent Life”. William.E.Thompson: A study on “Smartphones: Addiction or Way of Life” is carried on an allinclusivemanner. Subramani Parasuraman: In this article an exclusive study has been made on “Smart Phone Usage and Increased Risk of Mobile Phone Addictions” Kadir Demirci: The author has stated elaborately about all the gruesome side effects relating to usage of mobile phones. QUESTION: People use their mobile phones when there are other productive things to do Table No: 4.1 Correlations People Use Their Mobile Phones When There Are Other Productive Things To Do(X) Correlation People Use Their Coefficient Mobile Phones When Spearman's There Are Other Sig. (2-Tailed) Rho Productive Things To N Do Time Spent In Using Mobile Phones Have Increased Today Among The Consumers

Time Spent In Using Mobile Phones Have Increased Today Among The Consumers (Y)

1.000

.286*

.

.042

51

51

Correlation Coefficient

.286*

1.000

Sig. (2-Tailed)

.042

.

N

51

51

*. Correlation is significant at the 0.05 level (2-tailed). Data result: The above data shows that the value displayed is significant at 0.05 levels Null Hypothesis (H0) - There is no significant relationship between two variables. Alternative Hypothesis There is a significant relationship between two variables. HYPOTHESIS: Reject the Null Hypothesis (H0). CONCULSION: Hence the result of the above table is there is a significant relationship between the two variables(X and Y) which are shown in the above table. TABLE NO: 4.3 INDEPENDENT SAMPLE T TEST People use Their Levene’s test for mobiles When there equality of T-Test for Equality ofMeans Are other variances Productive Things 95% to do confidence Interval of the F Sig.(2tail e Mean St.er Sig. t df difference d) difference diff Lower Upper Equal variances .847 .362 (4.248) 48 .000 -1.073 .253 - 1.581 -.565 assumed Equal variances are (4.375) 35.2 .000 -1.073 .245 -1.571 -.575 not assumed Null Hypothesis (H0): Public disagree with the statement that “People find too much time in using mobile phone when there are other productive things to do. Alternative Hypothesis (H1): Public agree with the statement that “People find too much time in using mobile phones when there are other productive things to do” Conclusion: Hence from the above table and the value given (p <0.05) , public agree with statement that that “People find too much time in using mobile phone when there are other productive things to do”. Therefore reject Null hypothesis and there is no significant difference.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 QUESTION: Over half of the people have a habit of checking their phones as soon as it makes noise ANOVA Over Half of the People Has the Habit Of Checking Their Mobile Phones As Soon As It Makes Noise Sum of Squares df Mean Square F Sig. .269 1 .269 Between Groups Within Groups

74.476

49

1.520

.177 .676

74.745 50 Total Null Hypothesis (H0): when the value is less than p- 0.05. There is a significant difference between the groups. (People disagree with the statement) Alternative Hypothesis (H1): when the value is more than p-0.05. There is no significant difference between the groups. (People agree with the statement) Hypothesis: Accept alternative hypothesis (H0) as the sig value p-0.6 is higher than p-0.05. Conclusion: The above analysis shows that most of the people agree with the above statement (Over half of the people have a habit of checking their phones as soon as it make noise). QUESTION: The corporate are being benefitted in a large extent due to these kinds of addictions (to mobiles) (Between Genders) ANOVA The Corporate Are Being Benefited In a Large Extent Due To These Kind Of Addictions (To Mobiles) Mean F Sig. Sum of Squares df Square .007 1 .007 Between Groups Within Groups

20.032

49

.409

.018 .893

20.039 50 Total Null Hypothesis (H0): when the value is less than less than p-0.05. There is no significant difference between the groups. (People disagree with the statement). Alternative Hypothesis (H1): when the value is more than p-0.05. There is a significant difference between the groups. (People agree with the statement) Hypothesis: Accept alternative hypothesis (H0) as the p-0.8 is far higher than p-0.05 Conclusion: Therefore, majority of the people from the collected samples accept with the above statement (The corporate are being benefitted in a large extent due to these kinds of addictions (to mobiles) III. FINDINGS AND SUGGESTIONS  The correlation result is that is there is a significant relationship between the two variables(X and Y)  Public agree with statement that that “People find too much time in using mobile phone when there are other productive things to do”. Therefore reject Null hypothesis and there is no significant difference.  Over 2/3rd of samples gives that people lose their anxiety over losing their phone whereas 1/3rd of them says that they won’t get anxious when they lose their mobiles.

      

Most of the people or over half of the people agree with the above statement (Over half of the people have a habit of checking their phones as soon as it make noise). Majority of the people from the collected samples accept with the above statement (The corporate are being benefitted in a large extent due to these kinds of addictions (to mobiles) Avoid investing more money in mobile phones which in turn may increase the responsibility of mobile manufacturers to produce eco-friendly products (mobiles). Avoid using mobiles for day to day routine activities, which is one of the main reasons for introducing more application features in the mobiles by the manufacturing companies. For example; get a real alarm clock for alarms rather than setting alarms in the mobiles. Turn off the notification option in the mobile, as it reacts as an inducing factor in enlarging the time implied in using mobiles. A consumer by taking a resolution of using mobile once in a week, may even act as remedy for the addiction cause. Cultivating the habit of face to face conversation between person to person also may reduces the presence of mobiles in the consumer society.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 IV. CONCLUSION Hence we conclude hereby, with a small recap of what we have discussed till this far. The essence of this whole discussion is on how far the consumers have got addicted to mobile phones and the reaction of the mobile companies towards this issue (addiction chaos). In today world, mobiles have engaged a vital position in human’s life and lifestyle. Even for a routine activity one is fond of working it through mobiles. All the activities which had been done by one person by him/herself physically are being done today with access to mobiles. Mobiles have subjugated a consumer both physically and psychotically. This (addiction chaos) acts as an eminent marketing strategy for the mobile companies to raise their profitability. Though it reign as a farreaching issue (addiction chaos), the role of the company in eliminating this complication is found less as per the collected data. On the other hand, companies must also consider about the social welfareness while at the time of fabricating the production units and must be concerned about the social prosperity. V. REFERENCES 1. 2. 3. 4. 5. 6. 7.

Alison. G. Walton, 2017, “Phone Addiction and its Mental Causes” Jayanti P.Acharya, (May 23, 2013), “A Study on Some of the Common Health Effects of Cell-Phones amongst College Students” Bo-Kyung Seo, .(January 1,2018),“Smartphone Use and Addiction in Middle School Students in Korea” Dr.Vandana Goswami, (Year 2016), ““Impact of Mobile Phone Addiction on Adolescent Life” William E.Thompson, (July 29, 2017), “Smartphones: Addiction or Way of Life” Dr. Subramani Parasuraman, (July –Sept, 2017), “Smart Phone Usage and Increased Risk of Mobile Phone Addictions” Kadir Demirci, (April 26, 2015), “Side effects arising out of using mobile phon

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EFFECTS OF PUBLIC DISTRIBUTION SYSTEM IN THE LIVELIHOOD OF PEOPLE WITH RESPECT TO CHENNAI DISTRICT AASHIRWAD CHATTERJEE Final year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai – 600004 ABSTRACT Public Distribution System was formed to provide good quality food grains to the people of India, especially the disadvantaged sections of the society at fair/subsidised prices. In the current scenario the PDS has become a tool for the Fair Price Shop dealers to earn profits and the privileged society to minimise their expenses towards acquiring of food grains. Various reforms are being made by the government in the PDS to curb the leakages and losses of food grains so that it may run optimally and according to its objectives. Another intermittent factor is the perception of the people towards the PDS. The effect of PDS is null if the people are not satisfied with the services provided at Fair price shops. Thus, in this research paper a study has been conducted to identify the effects of Public Distribution System in the livelihood of people. This study has been conducted by collecting responses through questionnaire from the people of Chennai district of Tamil Nadu. The responses have been obtained from 150 people. The collected data has been analysed by using SPSS software wherein chi square, regression, correlation, frequency test & Anova has been used. Consumer’s perception towards quality, purchasing factor, voting factor, savings and smart cards has been obtained to provide suggestions for the improvement and optimum utilisation of Public Distribution System. KEYWORDS: Public Distribution System, Fair Price Shops, Smart cards I. INTRODUCTION The government of India established the Public distribution system under the Ministry of Consumer Affairs, Food and Public Distribution to provide food grains to the people of India at a subsidised price. This scheme was first introduced in February 1944, during the Second World War. As on 27.03.2018 there are 5.27 lakhs fair price shops in India. In Tamil Nadu there are 34,773 fair price shops consisting of 1761 fair price shops in Chennai district alone. Recently in Tamil Nadu smart cards have been issued as a replacement of the normal ration card. This was done to pave a way for transparency and accountability of supplies in FPS. It allows the consumer to know the nearest ration shops and the provisions that are available with stock updates. II. OBJECTIVES OF THE STUDY  To determine the effect of PDS in the livelihood of people in Chennai region.  To determine the relationship between savings and purchases through Fair Price Shops.  To determine the impact of the services of PDS on the voting preferences of people  To determine the relationship between income of people and their purchasing preferences.  To obtain public opinion on the quality of the provisions provided through Fair Price Shops.  To examine the efficiency of Smart cards.  To examine whether there are any black-market sales in the Fair Price shops. Rationale of the study There are approximately 67,10,344 beneficiaries in Chennai district. This study is basically conducted to get the consumer’s perception for the services of the Public Distribution System in Chennai district. This study will help to determine the effects of PDS in the livelihood of people in Chennai district in various dimensions like purchasing preferences, savings, voting factor and quality of commodities. It will also state the working efficiency of the smart ration cards. Research Methodology Data Collection Primary Data has been collected through questionnaire. The questionnaire has been distributed through Google forms. Area of Study The present study is confined to the consumers residing and availing commodities through Fair Price Shops in Chennai district. Sample Design 150 consumer’s responses have been collected by convenience sampling.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Tools used The data collected has been analysed by using SPSS software wherein correlation, regression, chi – square test, frequency test & Anova has been used. Hypothesis of the study  H01: Income level of people ≠ Purchasing preference of people in ration shops.  H02: voting preferences = motivation through festive gifts.  H03: Quality of provisions are better≠ buyprovisions more.  H04: Efficiency of smart cards = wrong messages.  H05: Purchasing extra quantity of provisions from fair price shops ≠ receiving wrongmessages. Limitations of the study  There was reluctance on the part of the respondents, i.e. the beneficiaries.  Due to lack of time only 150 respondents have been collected.  The study area has been limited to Chennai district only.  Due to issues in data collection dimensions of the study has been limited to savings, quality, income and voting factor. Review of Literature 1. Kavita of Maharshi Dayanand University, Rohtak conducted a research study on the scenario of Public Distribution system in India in 2014. The researcher wanted to study on the working and coverage of PDS across states and illuminate the flaws in the working of PDS. She suggested that there should be a proper administrative system in PDS for minimising targeting errors, improving selection procedures of BPL beneficiaries, ensuring proper and regular supply and eliminating diversion and leakages. 2. D. Lavanya Kumari and K. Kumari of S.V University, Tirupati conducted a research study on the functioning of Public Distribution System in India in 2015. They wanted to study the corruption in PDS, to examine the Targeted Public distribution and to study the transport of stocks from FCI under PDS. They suggested that the local administrative authority can take charge of procurement of provisions locally and then supply to eligible households. 3. Dr. R. Velumurugan and D. Lavanya of Karpagam University conducted a research study in Coimbatore district on customer’s satisfaction towards Public Distribution System in 2017. They stated that beneficiaries will only utilise the services of PDS when they are eventually satisfied by the services offered at the fair price shops. Data Analysis & Interpretation The data collected from the respondents i.e., the beneficiaries in Chennai district was analysed by using various statistical tools such as chi – square test, correlation, regression, frequency test, Mann – Whitney U test, independent T test and Anova in SPSS software. Data was collected by preparing and circulating a structured questionnaire through Google Forms among 150 respondents. Hypothesis 0: Purchasing extra quantity of provisions from fair price shops ≠ receiving wrong messages. Hypothesis 1: Purchasing extra quantity of provisions from fair price shops = receiving wrong messages. Table 1: Chi-Square Test between purchasing extra quantity and receiving wrong messages Asymp. Sig. Value (2-sided) Pearson Chi36.050 .000 Square Source: Primary Data Confidence Level: 95% Critical value (α): 5% or 0.05 Table value: 0.000 Interpretation The table #1 show the value of chi square and its significance level. It is clear from the table that the significant value is lesser than 0.05. Hence, we reject null hypothesis and it is inferred that there is an association between the purchasing of extra quantity of provisions from fair price shops and receiving wrong messages. Purchasing extra quantity of provisions from fair price shops = receiving wrong messages is accepted.

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Graph 1: Bar graph showing consumers perception towards quality of provisions in Fair price shops

Source: Primary Data Types of Commodities At Fair Price Shops Interpretation The bar graph #1 has been prepared by using the beneficiary’s perception towards the quality of provisions provided at fair price shops. From the bar graph #1, it can be inferred that quality of sugar (74%) is better in fair price shops followed by oil (26%), rice (20%), pulses (16%), wheat (14%), salt (10%), kerosene (8%), tea dust (6%), spices (6%) and soap (4%). III. FINDINGS  Chi Square test was conducted between different levels of income and purchasing preference of ration shops. It is clear from the test that the significant value is lesser than 0.05. Hence, we reject null hypothesis and it is inferred that there is association between monthly income of people and their purchasing preferences in ration shops.  Frequency test shows the beneficiaries perception towards the quality of provisions that is better at ration shops. It can be inferred that quality of sugar (74%) is better in fair price shops followed by oil (26%), rice (20%), pulses (16%), wheat (14%), salt (10%), kerosene (8%), tea dust (6%), spices (6%) and soap (4%).  Frequency test shows the beneficiary’s perception towards the improvement required in the quality of provisions at ration shops. It can be inferred that quality of rice (66%) needs to be improved followed by wheat (44%), pulses (28%), oil (24%), salt (22%), spices (20%), tea dust (22%), soap (18%), kerosene (18%) and sugar (18%).  Frequency test shows the beneficiaries perception towards the increase in the quantity of provisions at ration shops. It can be inferred that quantity of rice (36%) and sugar (36%) must be increased in fair price shops followed by wheat (28%), oil (24%), pulses (24%), kerosene (24%), spices (18%), salt (16%), tea dust (12%) and soap (8%).  Regression test between voting preferences and independent factors like better quality, motivated by gifts, behaviour of staff, efficient smart cards was conducted. It is clear from the test that variables such as better quality and motivated by gifts have significant value less than 0.05. Whereas, behaviour of staff and efficient smart cards have significant value more than 0.05. Hence it is inferred that the voting preferences of the beneficiaries are influenced by better quality of provisions (0.316) and through distribution of festive gifts (0.411).  Frequency test was conducted to determine the number of times beneficiaries receive wrong messages. From the test, it can be inferred that sometimes (40%) most of the beneficiaries received wrong messages of their purchases while using smart cards followed by receiving wrong messages rarely (36%), never (20%) and every month (4%). 235

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 

Anova was conducted to determine the difference between efficient smart cards and wrong messages. From the test, it is clear that the significant value is greater than 0.05. Hence, we accept null hypothesis and it is inferred that there is no difference between the efficient smart cards and wrong messages. Thus, only because of the wrong messages smart cards are not efficient.  Chi square test was conducted to determine the association between extra purchases and wrong messages. It is clear from the test that the significant value is lesser than 0.05. Hence, we reject null hypothesis and it is inferred that there is an association between the purchasing of extra quantity of provisions from fair price shops and receiving wrong messages. IV. SUGGESTIONS  Most of the beneficiaries responded that the quality of sugar is better in fair price shops followed by oil, rice, pulses, wheat, salt, kerosene, tea dust, spices and soap. Similarly, the quality of rice needs to be improved followed by wheat, pulses, oil, salt, spices, tea dust, soap, kerosene and sugar.  Only if the quality of the provisions is better, the beneficiaries will purchase those provisions from fair price shops. There will be an optimum utilisation of provisions which will limit wastage and losses for the government. Thus, the government should take necessary steps to improve the quality of rice, wheat, pulses, oil, salt, spices, tea dust, soap & kerosene.  The quantity of rice and sugar must be increased in fair price shops followed by wheat, oil, pulses, kerosene, spices, salt, tea dust and soap. There should be proper recording and maintenance of stock in fair price shops. Government should take steps so that the stock of provisions must be available for every eligible cardholder throughout the month. This will only be possible if the dealers do not engage in black-market sales.  If the price of provisions at fair price shops remain cheaper than the market price there might be an increase in the number of purchasers from fair price shops. In another way, this may lead to over purchase of provisions by the rich and middle-income groups who will try to maximise their savings. As a result, the needy will have to forgo their monthly eligibility. Therefore, lower than market prices can be maintained provided with transparent and strict supervision of supply.  The respondents reported that sometimes they receive wrong messages of purchases in their phones while purchasing from fair price shops with a smart card. These messages show provisions that have not even been purchased by the respondent. Only because of these wrong messages smart cards are not able to function efficiently. These messages are often used to offset those black-market sales that has been made to beneficiaries who has paid market price for the provisions that they have purchased exceeding their monthly eligibility quota.  In order to stop black-market sales, government has to take immediate steps towards strict surveillance over supply and sales. A bill must be verified both by the beneficiary and the dealer before final submission. Once submitted there should not be any chances of changing the bill. There must be only one bill for a ration card per month.  The beneficiaries who receive wrong messages have to report it to the grievances committee. The grievance committee must take immediate steps to investigate the complaint and take necessary steps towards its solution.  There must be proper maintenance of time schedules by the fair price shop dealers in the rural areas. People complained about fair price shops opening late and being open only half a day.  Most of the respondents complained about their fair price dealers forcing them to purchase unnecessary provisions. This kind of activities must be stopped. The beneficiaries should have a freedom of choice restricted to their monthly eligibility of purchase. V. CONCLUSION The Public Distribution System was mainly established to supply food grains to the poor and needy. In the current scenario, PDS is majorly used by fair price dealers to earn extra income from black market sales. Various reforms are made by the Central & State Governments to eliminate leakages and losses of food grains but still fair price shop dealers are able to find ways to evade the surveillance system. The consumers are also silent on these matters and rarely a complaint goes to the grievance system. The beneficiaries must become aware of their eligibility and purchase provisions only upto their restricted eligibility so that other people may also receive their share of provisions. The quality of the provisions must be improved so that there is optimum utilisation of provisions without the incurrence of wastage. The government must create better infrastructure for storage and maintenance of food grains so that they need not apply to accommodate food grains in private go downs. In case of privatisation, the government has to incur increased maintenance cost and there might also be consequences of leakage. The checks in smart cards must be made more efficient and it should not become a tool for black marketing. There must be strict vigilance of the operations of fair price shops and strict actions must be taken for any misacts. 236

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 VI. REFERENCES 1. Kavita, (April 2014) Evaluation of Public Distribution system in India, ISSN – 2278-6236 http://www.garph.co.uk/IJARMSS/Apr2014/11.pdf 2. Kumari, Lavanya & Prof. Kumari,Santha (May 2015) Public Distribution System in India, retrieved from https://www.worldwidejournals.com/indian-journal-of-applied-research(IJAR)/file.php?val=May_2015_1492502748__196.pdf 3. Dr. Velmurugan Ramaswamy & Lavanya, D, (June 2017) A Study on consumers satisfaction towards Public Distribution System, ISSN 1943-023X, retrieved from https://www.researchgate.net/publication/319178533 4. Types of cards & Prices of Commodities, Tamil Nadu Civil Supplies Corporation retrieved from http://www.tncsc.tn.gov.in/PDS.html 5. District wise information of Public Distribution System reports retrieved from https://www.tnpds.gov.in/pages/reports/pds-report-state.xhtml

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COMPARATIVE STUDY ON FACTORS AFFECTING ONLINE AND OFFLINE SHOPPING IN CHENNAI DISTRICT A. ATISH PAWAR Final year, Department of Accounting & Finance Ramakrishna Mission Vivekananda College Evening College (Autonomous Mylapore, Chennai – 600004 ABSTRACT The development of retail segment in India is one of the quickest in all inclusive. Indian purchasers are extremely specific about their items. The purchaser’s decision changes depending upon their inclination towards online shopping and Offline shopping. The Online and Offline shopping both have their very own focal points and disadvantages. Online shopping doesn't require voyaging long separations, offers more assortment, provides frequent discounts and broadens the option of customer review. Then again, Offline shopping enables clients to physically look at items which generally online shopping offers. Buyers might choose both Online and Offline shopping relying upon their inclinations at a specific point of time, which results out of their behaviour towards the two method of shopping. This research endeavours to throw some light on the distinctions developing out of Online shopping conduct and Offline shopping conduct. The study has been conducted by collecting responses through questionnaire from the people of Chennai district of Tamil Nadu. The responses have been obtained from 120 people. The collected data has been analysed by using SPSS software wherein chi square, Anova, Independent sample T test, Mann-Whitney Test has been used. Consumer modes of shopping preferences with respect to factors affecting those preferences are obtained to draw out findings and relevant suggestions. KEY WORDS: Online shopping, Offline shopping, behaviour, factors. I. INTRODUCTION The primary issue or doubt that arises in every consumers mind when he sets out to buy something is as to which shopping mode he should go ahead with. There exists both Online and Offline shopping options inorder to satisfy his need. This has changed the approach of different companies to target consumer choices to gain competitive advantage. However, in India offline shopping holds the stakes up compared to Online shopping. Though online shopping has been successful in creating a mark among the youth but still falls way behind its counterpart. Consumer behaviour with respect to factors affecting their shopping preferences plays a vital role in today’s context. II. OBJECTIVE • To find out which mode of shopping do they generally prefer. • To find out on which mode of shopping they spend more money on daily basis. • To determine the relationship between consumers choice to shop online and the factors affecting that choice. • To determine the relationship between consumers choice to shop offline and the factors affecting that choice. • To find out whether the choice of Online and offline shopping differ with age. Rationale Of The Study This study is basically conducted to get the consumer’s preference with respect to online and offline shopping. This study will help to determine the factors affecting Online and offline shopping decision. Data Collection Primary data has been collected through questionnaire. The questionnaire has been distributed through Google forms. Sample Design 120 consumers response have been collected by convenient sampling method. Tools Used The data collected has been analysed by using SPSS software wherein Mann-Whitney, frequency, mean, Chisquare and ANOVA. Hypothesis of the Study H01: Choice of respondents to shop offline = factors influencing that choice. H02:Choice of respondents to shop Online = factors influencing that choice. H03: Gender of the respondents = Choice of mode of shopping. H04: Age of the Respondents =choice of mode of shopping.

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Limitations • There was reluctance on the part of the respondents. • The sample size is restricted to only 120 responses. • Due to issues in data collection, the study is confined to factors affecting the choice of shopping online and offline. Review Of Literature Degeratu et al. (2000): It was found that brand name of some products influences theconsumers to shop online, which in-turn makes them choose online shopping over offline shopping. But such shift depends upon the information relating to the attribute of a product. Waldfogel and Chen (2006): It was found that comparison between prices on different onlinewebsites weaken the brand value. But it was also found that in certain offline shopping markets brand influenced consumer choice. Chayapa (2011): Shopping environment and marketing is the two major factors that affect thechoice of the consumer to go online or offline, thus influencing his shopping decision. Yaobin Lu (2011): primary focus was on factors that drive the intention of consumers to switchfrom offline shopping to online shopping that offer identical services. It revealed that innovation in terms of technology and other positive benefit was the reason behind consumers shift to online shopping. Selvakumar (2014): It focused on the perception of the consumers towards the product thatwas sold online. Study was conducted in Coimbatore among the online shoppers. Consumer opinion was known through questionnaire. It was found that technological improvement & easy accessibility were factors that influenced the consumer decision to shop online. Data Analysis & Interpretation The data collected from the respondents i.e., the responses collected was analysed by using various statistical tools such as chi-square test, frequency test, Anova, Mann-Whitney test in SPSS software. Preferences with respect to online or offline shopping: Table 1 Frequency Table Frequency Percent Valid Percent Cumulative Percent online 54 offline 66 55.0 55.0 100.0 Total

120

100.0

100.0 PIE CHART 1:

preferences of respondents

45 %

Online Shopping Offline Shopping

55 %

Interpretation From the above table #3 & pie chart 1, it can be interpreted that 55% of the respondents prefer offline shopping whereas 45% of the respondents prefer online shopping. Mann-Whitney Tests Hypothesis 0: Choice of respondents to shop offline = factors influencing that choice. Hypothesis 1: Choice of respondents to shop offline ≠ factors influencing that choice

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Table 2 Mann – Whitney test between choice to shop offline and factors influencing that choice. spend time prefer to better instant in-store with no shipping no product touch return gratification discounts family and frustration disappointment theproduct policies friends MannWhitney U

1722.00

Wilcoxon

0 3933.00

W

0

1760.000

1524.000 1620.000 1398.000

1776.000

1584.000

3971.000

3735.000 3831.000 2883.000

3261.000

3069.000

Asymp. .698 .887 .106 .274 .018 .969 .215 Sig. (2tailed) Source: Primary Data Confidence Level: 95% Critical value (α): 5% or 0.05 Table value • prefer to touch the product: 0.698 • Instant gratification: 0.887 • Better return policies: 0.106 • In store discounts:0.274 • Spend quality time: 0.018 • No shipping frustration :0.969 • No product disappointment: 0.215 Interpretation The table #1 shows the Mann - Whitney U value and its significance level. It is clear from the table that the significant value is greater than 0.05. Hence, we accept null hypothesis and it is inferred that choice of shopping offline is largely influenced by factors affecting that choice. Choice of respondents to shop offline = factors influencing that choice. Except for factor relating to spending quality time. Hypothesis 0: Choice of respondents to shop Online = factors influencing that choice. Hypothesis 1: Choice of respondents to shop Online ≠ factors influencing that choice Table 3: Mann – Whitney test between choice to shop offline and factors influencing that choice. no more finding no waiting in items organizing wasting shipping line and which are no time finances Convenient time directly pushing not limit easily clipping to home through available coupons crowds in stores Whitney U 1602.000 1590.000 1746.000 1686.000 1752.000 1764.000 1698.000 3813.000 3801.000 3957.000 3897.000 3237.000 3975.000 3183.000 Wilcoxon W Asymp.Sig. .141 .241 .715 .555 .853 .894 .563 (2-tailed) Source: Primary Data Confidence Leve`l: 95% Critical value (α): 5% or 0.05 Table value • Organizing finances easily 0.141 • Convenient 0.241 • No waiting on clipping coupons 0.715 • No wasting time in line 0.555 • Finding items not available in stores 0.853 • No time limit 0.894 • Shipping directly to home 0.563. 240

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Interpretation The table #2 shows the Mann - Whitney U value and its significance level. It is clear from the table that the significant value is greater than 0.05. Hence, we accept null hypothesis and it is inferred that choice of shopping Online is largely influenced by factors affecting that choice. Choice of respondents to shop Online = factors influencing that choice. III. FINDINGS There is an association between the Gender and the choice of mode of shopping. •

Majority of the respondents inclined themselves towards choosing offline shopping over online shopping. • Choice of respondents to shop offline = factors influencing that choice. It is inferred that choice of shopping offline is largely influenced by factors affecting that choice. • Choice of respondents to shop Online = factors influencing that choice. It is inferred that choice of shopping Online is largely influenced by factors affecting that choice. • Respondents were found spending more on Offline shopping as compared to Online shopping in their day to day life. • There is a significant relationship between age of the respondents and their choice of mode of shopping. IV. SUGGESTION • Both online and offline shopping channels should make the shopping environment more dynamic in accordance to the taste and preferences of the different genders. • Online shopping channels should work on common risk factors like transaction security, personal privacy, In-availability of customer review option, and sufficient information& authenticity in-order to attract consumers more towards online shopping. • Offline shopping channels should work on factors like convenience, availability of variety of products, reducing the costs of the products so as to attract consumers towards Offline shopping. • Online shopping channels can bring out more offers and innovative schemes to attract the consumers so that they spend more on online shopping on daily basis. • Offline shopping channels can count on in-store discounts, and make sure they offer variety to customers and a possible substitute for products. • Both online and offline channels can work on their promotional activities wherein they can attract consumers depending upon their age group. V. CONCLUSION Based on the study there exists numerous factors that influence consumers decision to buy shop Online or Offline. Despite the increasing growth in online shopping channel, there exists a set of consumers who prefer the traditional offline shopping. Though the introduction of Online shopping has hit the offline shopping channels evidently. There exists a steady competition between both Online and Offline shopping Channels, where in they provide customers with more offers, discounts and convenient shopping schemes in-order to attract them towards them. It is also seen that apart from these offers or discounts there exists a lot of factors that influence the consumer decision to shop online or offline. So both the shopping channels should put in more efforts and should try to be more dynamic as to consumers need & wants so as to affect their choice of Online and Offline shopping. VI. REFERENCES 1. Degeratuetal (2000): Consumer choice behaviour in online and traditionalsupermarkets:. Retrievedfrom:http://onemvweb.com/sources/sources/consumer_choice_behavior_online_tra ditional.pdf. 2. Chayapa (2011): Online Shopper Behaviour: Influences of Online ShoppingDecision.Retrievedfrom:https://swsu.ru/sbornikstatey/pdf/Online%20Shopper%20Beh avior%20Influen ces.pdf. 3. Yaobin Lu (2011): A study on factors that affect users' behavioural intention totransfer usage from the offline to the online channel. Retrievedfrom:https://www.researchgate.net/publication/220495412_A_study_on_factors_that_affect_ users'_behavioral_intention_to_transfer_usage_from_the_offline_to_the_online_ch annel.

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AWARENESS OF FINTECH COMPANIES WITH RESPECT TO CHENNAI REGION T. MANJUNATHAN Final year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College, Evening College (Autonomous) Mylapore, Chennai-600004 ABSTRACT In this fast moving world people want everything quickly, financial technologies was mainly established to provide services quickly. It is reducing the work of banks and other financial sectors. Thus the study has been conducted to identify the awareness of Fintech companies in Chennai. The study has been conducted by collecting responses through questionnaire from the people of Chennai district, Tamil Nadu. The responses have been obtained from 108 people. The collected data has been analyzed by using SPSS 16 software wherein frequency, chi- square and Anova. Keywords: Fintech, Awareness I. INTRODUCTION Banks had been playing important role in this financial world. The technological development changed the people to shift to digital channels. Both startups and established financial institutions are trying to use these services and the disrupted financial markets have changed to financial technology. It helps the people to use for high value of transactions. It brings massive changes in lifestyle of people. This technology is a competition for traditional methods of finance and financial services. Fintech products and services currently used in market are peer to peer lending platforms, crowd funding, block chain technology, big data, smart contracts, robo advisor etc. Objective  To know the awareness of fintech companies among people in Chennai region  To determine the relationship between age groups and fear of exposure of bank details.  To know the awareness of fintech through the people who are all doing e-shopping and investment. Data collection All primary data for the project was collected from questionnaire through public views and analyzing through SPSS- 16 software. The questionnaire has been distributed through Google forms. Sample design 108 responses have been collected by convenience sampling method. Tools used The data collected was analyzed by SPSS software-16. Frequency, mean, chi-square, Anova, correlation and regression have been used on the purchase intention was negative. The study also suggests that different formats of intrusiveness offered different results both positive and negative. Hypothesis of the study 1. H01: There is no association between e-shopping and awareness of Fintech companies. 2. H02: There is no association between investment and awareness of Fintech companies. 3. H03: There is no difference between age and worrying about bank details. Limitation  The lack of trust in Fintech companies.  Due to lack of time only 108 respondents have been collected.  The study area has been limited to Chennai only. Review of literature 1) Inna Romānova Mariakudinska banking and fintech A challenge or opportunity? 2016. The purpose of the study was to determine, and analyze the recent trends in banking, identifying opportunities and risks of Fintech of banks. A timely integration of Fintech into business permits banks to induce an advantage in growing competition. And it also provides the Extensive analysis of recent trends in Fintech and banking, examining experience of leading European and US banks, as well as surveys conducted among members of the financial services industry in different countries.. This paper provides recommendations for regulators and banks to ensure the reduction of risks associated with development of Fintech. Analysis of Fintech market has shown growing competition, including from non-financial institutions. 2) Hyun-Sun Ryu, What makes users willing or hesitant to use Fintech? 2017. The purposeof the paper was to understand why people are willing or hesitant to use financial technology (Fintech) as well as to determine whether the effect of perceived benefits and risks of continuance intention differs looking on user sorts. For this purpose he has collected 243 samples participants with Fintech usage experience. By analyzing the results he arrived to a conclusion that legal risk had the most negative effect on the Fintech continuance intention, while convenience had the strongest positive effect. Tools used by the researcher are partial least square method.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Data Analysis & Interpretation Table 1 Frequency analysis of awareness of Fintech companies Frequency Percent Valid Percent Cumulative Percent Yes 37 34.3 34.3 34.3 No

71

65.7

65.7

Total 108 100.0 Source: Primary data

100.0

100.0

Graph 1

Awareness of Fintech 65.70 %

34.30 %

Yes No

Interpretation The table #1 shows frequency and percentage of the awareness of the term Fintech companies. The above table and Graph shows the awareness of Fintech companies. From the table #1 and graph #1we can identify that 65.7% are not aware of Fintech companies, 34.3% respondents are aware of Fintech companies. Therefore it is clear from the above table and the graph that majority of the respondents have not aware of the Fintech companies. Hypothesis 0: e-shopping ≠ awareness of fintech companies Hypothesis1: e-shopping = awareness of fintech companies Table 2 Chi square between e-shopping and awareness of fintech companies. Value Asymp. Sig. (2-sided) Pearson Chi-Square .528a

.467

Source: Primary data Confidence level: 95% Critical value (α): 5% or 0.05 Table value: 0.467 Interpretation The table #2 shows the value of Chi-square and its significant value. It is clear from the table that significant value which is more than 0.05. Hence, we accept null hypothesis and it is inferred that there is no association between e-shopping and awareness of fintech e-shopping ≠ awareness of fintech companies is accepted. Hypothesis 0: Investment ≠ awareness of fintech companies Hypothesis1: Investment = awareness of fintech companies. Table 3 Chi square between investment and awareness of fintech companies. Value Asymp. Sig. (2-sided) Pearson Chi-Square 4.688a Source: Primary data

.030

Confidence level: 95% Critical value (α): 5% or 0.05 Table value: 0.30 Interpretation The table #3 shows the value of Chi-square and its significant value. It is clear from the table that significant value which is less than 0.05. Hence, we accept alternative hypothesis and it is inferred that there is association between investment and awareness of fintech Investment = awareness of fintech companies is accepted. Hypothesis 0: Age = worrying about bank details while using online transactions. Hypothesis 1: Age ≠ worrying about bank details while using online transactions.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table 4 Anova is to determine the difference between age and worrying about bank details while using online transactions. Sum of Squares Mean Square F Sig. Between Groups 13.256 3.314 3.836 .006 Within Groups 88.994 Source: Primary data

.864

Confidence level: 95% Critical value (α): 5% or 0.05 Table value: 0.006 F value: 3.836 Interpretation The table #4 shows the value of F and its significant value. It is clear that the significant value is less than 0.05. Hence, we accept alternative hypothesis and it is inferred that that there is difference between age and worrying about bank details. Age ≠ worrying about bank details while using online transactions is accepted. The F value is 3.836; thereby stating banks and fintech companies should take more effort to simplify the online process so that it could be user friendly to all age group people. II. FINDINGS  The percentage of people who were not aware of Fintech companies is 65.7%  People who do e-shopping are not aware of fintech  People who do investment are aware of fintech  According to the research, there is difference between age and worrying about bank details III. SUGGESTIONS  Regular education about technologies should be given to people by advertising.  Even though Fintech companies are very much advanced still they are some people facing problems like cancellation of transactions, amount theft etc. which can be further rectified.  The banks and other fintech companies should take more efforts to simplify the online process so that it could be user friendly to all age groups.  People who do e-shopping they should also do investment then only they will come know about more financial technologies. IV. CONCLUSION Fintech is making the finance business more efficient and enabling better financial services and products. More digital services and products are being developed every day, which has gradually changed the people behavior and replaced the traditional way. Before, invention of new technologies people were often going to bank for depositing money, payment and transferring money. Now –a – days,people are using ebanking apps for making bills payment, transferring money etc. People should not only use the technology for eshopping they should also invest by using it so they will come to know about technologies. They are not aware of Crowd funding, ET money, Policy bazar etc. By this research it was found awareness of Fintech companies is less. People should also start learning about other features in financial technologies V. REFERENCES 1. Romānova Inna, Kudinska Marina (2016) Banking and Fintech a challenge or opportunity? retrievedfrom: https://www.emeraldinsight.com/doi/full/10.1108/S1569-375920160000098002 2. RyuHyun-Sun (2017) What makes users willing or hesitant to use Fintech?: the moderating effect of user type, retrieved from:https://www.emeraldinsight.com/doi/full/10.1108/IMDS-07-2017-0325 3. Types of fintech, retrieved from: 4. https://rbidocs.rbi.org.in/rdocs/PublicationReport/Pdfs/WGFR68AA1890D7334D8F8F72CC2399A27F4A.P DF

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BANKRUPTCY PREDICTION BY Z-SCORE MODEL: A STUDY WITH REFERENCE TO BHARTI AIRTEL COMPANY R. VIJAYAKUMARAN Final Year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous) ABSTRACT The study is conducted with the objective of analyzing the credit risk ofBharti Airtel Company. As per industrial experts there will be an enormous growth in the coming years in the Telecom Sector, it is reckoned that the companies operating in this sector shall make use of the opportunity to boost up their financial position. After 2016 there was a back to back poor performance of Bharti Airtel Company because of entry of new competitor.This leads to predict the future performance of Bharti Airtel. For predicting the future performance of Bharti Airtel Company,Altman Z-Score model is used whichincludes the analysis of ratios in relevance to the various financial aspects and determining the bankruptcy position of a business. Keywords: Bankruptcy, Prediction,Z-score I. INTRODUCTION According to Steve Maraboli “our moral economy went bankrupt long before our financial one”. This states that the company has lost their status of being ethical even before they have become financially bankrupt. Nowadays, there are lots of bankruptcy cases happening in the world and they have become widespread. Industrial Sickness has been increasing in such huge proportions that in the wake of industrial development, an outsized range of latest units covering every types of units in small, medium and large enterprises. For preventing this government appointed BIFR (Board for Industrial and Financial Reconstruction) whose main objective was to determine sickness of industrial companies and to assist in reviving those that may be viable and shutting down the others. In 2016, the Modi government dissolved BIFR and referred all proceedings to the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) as per provisions of Insolvency and Bankruptcy Code. Predicting the bankruptcy enables the company to let know about the future standings and act as an early warning signal. Studying financial health in terms of financial distress / bankruptcy prediction is an important topic of accounting and finance, which has been widely studied since the early 1900s.This study is designed to investigate the bankruptcy prediction of Bharti Airtel Company.After 2016, entry of new competitors made a huge downfall in Telecom Industry in India. Due to downfall some companies went bankrupted. This failure in the industry brought plenty of loss to Entrepreneur, Creditor, Customers and Shareholders of the company. Before commencing the study, previous study conducted on similar aspects must be studied and reviewed in order get a better idea on how to perform the study. Review of Literature 1) Edward I. Altman, et.al. (1977) conferred the development of a bankruptcy classification model that inculcates comprehensive inputs relating to discriminant analysis and uses a sample of bankrupt companies essentially covering the period 1969–1975. Financial statement data and market related measures were utilized to advance likeness of companies and to reflect the latest reporting standards so as to make the model relevant to future analysis. The results of the study were compared with another bankruptcy classification strategy. The latter depends on cost estimates derived from commercial bank lending errors. 2) NiroshKuruppu, et.al. (2003) brought up that, whether bankruptcy is the best alternative for evaluating the going concern since filing for bankruptcy is not synonymous with the shortcoming of the going concern assumption. Moreover liquidation is the most likely outcome in countries like UK, Germany, Australia and New Zealand. This suggests that bankruptcy prediction models have limited use for assessing going concern in some countries. This study examined the corporate liquidation model and bankruptcy prediction model for finding the liquidation of the company. It finds previous model is more accurate in predicting company liquidations in comparison with the latter. 3) ArindamBandyopadhyay (2006) developed an early warning signal model for predicting corporate default in emerging market economy like India using Z-Score model. At the same time, he introduced methods for calculating corporate Probability of Default (PD) using both financial and non‐ financial variables. The model clearly tells out the other two comprising of Altman's original and emerging market set of ratios respectively in the Indian context.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 4) ObaidSaif H. Al Zaabi (2011) applied the emerging market (EM) Z‐score model to predict bankruptcy and to measure the financial performance of major Islamic banks in the UAE. In addition, this study expected to introduce the Z‐score model to this industry as a beneficial diagnostic tool to improve financial performance. 5) Benjamin P. Foster, et.al. (2013) stated that recent bankruptcy researches use hazard models and wideranging samples of companies. The large samples used to have irrelevant variable related to company’s loan default status in the models. With restricted to financially distressed companies, the authors aim to observe if results differ when loan default status and/or audit opinion variables are omitted from hazard bankruptcy prediction models. Significance of the study After the global financial crisis of 2009, stricter rules and regulations become the concern of financial institutions and policy makers in order to prevent another economic meltdown. By understanding the factors that lead to bankruptcy may help financial institutions to reduce the credit default of consumers. Also, policy makers will have better decision in the implementation of appropriate policy by analyzing the determinants of bankruptcy which may have negative impacts on economy. Therefore, if the policy makers possess the knowledge of bankruptcy, this might assist them in better evaluation of financial situation and more wisely financial planning to avoid bankruptcy. Ideally, bankruptcy can benefit the economy of a country. During the bankruptcy process, if the outstanding debts of debtors are discharged without any future obligation, they can rebuild their credit record. This, in turn, will encourage spending and borrowing which are beneficial for economy. However, bankruptcy can adversely affect the economy if more and more people file for bankruptcy at the same time. The above discussion reveals that it is important to study about the bankruptcy as it is essential to assist policy makers to plan wisely which in turn will be more beneficial for the economy. Moreover bankruptcy prediction can act as an early warning signal and it helps the company to identify the areas to be improved and what are the different strategies to be used to survive in the market. Therefore, this study is significant in a way to predict the bankruptcy of Bharti Airtel Company and offer suggestions for improvement. Statement of the Problem There will be huge change in the market share position of the Telecommunication companies in the coming years, as proclaimed by industrial experts. The continuous show of poor performance bys ome of the Mobile networks for the past decade propelled the idea behind this study. It is necessary to make a prediction on the possibilities of bankruptcy and corporate default of the company in India. In the recent years Bharti Airtel company show back to back poor performance as per financial statement of the company. This is because of entry of New Competitor in the Telecom Industry. The company has incurred huge loss as customer started moving to other company, reduction in market share, could not compete with the strategy used by the competitor. As there was huge decline in the customer base inBharti Airtel there is a chance of bankruptcy like other operators. Hence the study on Bankruptcy Prediction of Bharti Airtel Company using Z-Score model was conducted. Objective of the Study The objectives of the study are listed below:  To assess the financial position of the Bharti Airtel company.  To evaluate the performance of the Bharti Airtel company over a period of five years.  To predict the financial health of the Bharti Airtel company. Scope of the study The study focuses on the bankruptcy prediction of Bharti Airtel Company and offerssuggestions for improvement. The collected data pertain to a period of five years ranging between 2014 and 2018. Altman Z-Score model is used to predict bankruptcy position which helps to find out theFuture position of the company.This study is restricted to the ratios: Working Capital to Total Assets Ratio, Retained Earnings (Net Reserves of Current Year) with respect to Total Assets, Earnings before Interests and Taxes (EBIT) to Total Assets, Market Value of Equity Shares (Consolidated) to Total Liabilities andNetRevenue from Operations toTotal Assets.Other Ratios like Gross Profit Ratio, Net Profit Ratio, Return on Capital Employed, Return on Assets, Current Ratio, Debt to Equity Ratio, Interest Coverage Ratio, Inventory Turnover Ratio, Assets Turnover Ratio, Receivable Turnover Ratio are used to analysis financial position of the company. Research Methodology The study is conducted as a secondary research by using the financial information of the selected company collected through secondary sources. Furthermore, this a descriptive research where interpretations are drawn out of the analysis made on the collected data to suggest lenders on the bankruptcy position of the selected company. The collected data pertain to a period of five years ranging between 2014 and 2018 and are put under Ratio analysis and Altman’s Z-Score Model to derive concrete results.

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2015

2016

2017

2018

Gross Profit Ratio

14.73%

16.48%

17.11%

16.26%

13.18%

Net profit Ratio

3.51%

5.25%

6.03%

3.34%

1.33%

Return on Capital Employed

2.38%

3.96%

3.63%

9.15%

6.42%

Return on Assets

1.64%

2.53%

2.69%

1.63%

0.43%

Current Ratio

0.39

0.33

0.39

0.29

0.43

Debt to Equity Ratio

1.27

1.76

1.5

1.52

1.41

Interest Coverage Ratio

2.61

3.56

2.39

2.02

1.37

Inventory Turnover Ratio

603.82

717.71

570.52

1958.79

1211.21

Assets Turnover Ratio

46.87

52.67

42.76

40.97

33.49

Receivables Turnover Ratio

8.96

11.54

11.91

12.74

10.14

Profitability Ratio

Liquidity Ratio

Turnover Ratio

ALTMAN'S Z-SCORE Z-Score 0.51 0.58 0.47 0.45 0.38 Source: Computed from Financial Statements As compared to all the five years company’s performance in 2018 is lower than other four years. The result of Altman Z-Score is also reduced compared to other four years. Even thoughthe Z-Score for all the five years is less than 1.88; there is a high chance bankruptcy in the near future as 2018 is the lowest among all the five years. II. FINDINGS 1. The Gross profit margin is used to analyze how efficiently the company minimizes its cost of merchandise and cost of services, thereby increasing its first level of profit or Gross profit. The decline in Gross profit ratio from 2016 indicates that the company is not efficiently using cost reduction techniques. 2. The Return on Capital Employed narrows the focus to gain a better understanding of a company’s ability to generate returns from its available capital base. The Bharti Airtel Company is doing well in this regard, since ROCE is higher than the company’s average borrowing rate. 3. The Return on Assets ratio illustrates how well the management is employing the company’s total assets to make a profit. The lower return throughout the years of study indicates that the management is not utilising the assets well. 4. The liquidity position of the company is also not satisfactory. The current ratio is below 1(current liabilities exceed current assets) for the study period. This indicates that the company may have problems paying its bills on time. However, low ratios do not indicate a problem but should concern the management. 5. Interest Coverage ratio asserts the ability of the enterprise to pay off its interest outstanding against debtliability out of its operational income. When a company's interest coverage ratio is less than 1.5, then its capacity to meet interest expenses may be questionable. Since the interest coverage ratio in 2018 is only 1.37, the ability to meet interest payment obligations is absolutely critical for the company. 6. The Z-Score of the company shows declining trend throughout the study. The major reason couldbe inadequate working capital throughout the study. 7. The decline in EBIT to total assets from 2016 indicates that the firm did not earn enough profits to cover up its total assets cost which has affected the profitability of the company in the long run. This shows that company must use its total assets at the maximum capacity to ensure that it covers up the cost before contractual obligation i.e., interest and taxes.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 III. SUGGESTIONS It is suggested that the company shouldfind new ways and means to differentiate itself from the competitors in the market. It is suggested to implement cost control and cost reduction techniques to minimize their nonoperating cost and indirect costs. It is also suggested that the company has to adopt new advertising techniques, to attract new customers. Sometimes, the distress may occur as a result of external factors such economic distress, tastes and preferences of the consumers. Hence, it is suggested that the company should keep an eye on these things, and act accordingly. The distress may also due to decline in performance of the company or due to poor management of company. It is sometimes, very difficult to ascertain these factors. So it is suggested that the company should assess the financial position regularly to predict financial distress of the organization. Limitation of the Study  The research is conducted out of secondary data that is purely quantitative in nature leaving out the relatable qualitative aspects and hence the results may not be precise and authoritative.  Study was based on period of five years ranging from 2014 to 2018.  Limited to time constraints only Altman’s Z-Score model was used for prediction.  Due to limited resources few ratio were analysed. Scope for Future Research This study can be researched in the future in several ways. Future researchers can use different prediction model like Beaver model (1966), Johnson model (1972), and Ohlson model (1982) for accuracy purpose. Further study also needed to find whether bankruptcy can be predicted very well using Altman Z-Score. IV.CONCLUSION The Z-score model is a very practical tool that can be used to predict the insolvency of companies. This study was conducted in order to evaluate financial health of leading company in Telecommunications industry Bharti Airtel in India by using Z-Score approach. The analysis revealed that BhartiAirtel Limited has poor liquidity, solvency and profitability position. It was also noted that the company has secured a very poor scores under Altman’s Z-Score Model, failing to produce even 1.88 score to prove their creditworthiness. Altman Z score is a likely hood and not a prediction. From a company's financials, it may look likely that bankruptcy looms at the BhartiAirtel Limited, but the management may well succeed in improving financial position. However, it's wise to keep an eye on this number and have an insight into a company's solvency. The ZScore is not intended to predict when a company will actually file for legal bankruptcy. It is instead a measure of how closely a company resembles a downfall, if necessary turnaround strategies are used, i.e. it tries to assess the chances of economic bankruptcy. V. REFERENCES 1. Edward I. Altman, Robert G. Haldeman and P. Narayanan, Journal of Banking & Finance(1977), analysis a new model to identify bankruptcy risk of corporation’s vol. 1, issue 1, 29- 54. 2. NiroshKuruppu, FawziLaswad, Peter Oyelere(2003), Managerial Auditing Journal, Volume: 18 Issue: 6/7, anlaysis the efficacy of liquidation and bankruptcy prediction models for assessing going concern. 3. ArindamBandyopadhyay(2006), Predicting probability of default of Indian corporate bonds: logistic and Z‐score model approaches. 4. Joseph CalandroJr, Robert Flynn (2007), "On financial strategy", Business Strategy Series, Vol. 8 Issue: 6 5. Ariel R. Sandin, Marcela Porporato, (2008) "Corporate bankruptcy prediction models applied to emerging economies: Evidence from Argentina in the years 1991‐1998", International Journal of Commerce and Management, Vol. 17 Issue: 4, pp.295-311. 6. Kingsley OpokuAppiah, Joshua Abor, 14 Jul 2010, Predicting Corporate Failure: Some Empirical Evidence from the UK Benchmarking: An International Journal, Vol. 16 Issue No. 3, 2009, pp. 432-44. 7. Antony Young, Yi Wang (2010), "Multi‐risk level examination of going concern modifications", Managerial Auditing Journal, Vol. 25 Issue: 8, pp.756-791. 8. Sanjeev Mittal, Pankaj Gupta, K. Jain (2011), "Neural network credit scoring model for micro enterprise financing in India", Qualitative Research in Financial Markets, Vol. 3 Issue: 3, pp.224-242. 9. ObaidSaif H. Al Zaabi, (2011) "Potential for the application of emerging market Z‐score in UAE Islamic banks", International Journal of Islamic and Middle Eastern Finance and Management, Vol. 4 Issue: 2, pp.158-173. 10. Benjamin P. Foster, JozefZurada (2013), "Loan defaults and hazard models for bankruptcy prediction", Managerial Auditing Journal, Vol. 28 Issue: 6, pp.516-541. 11. http://www.businessworld.in/quotes/Steve-Maraboli-117/

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A STUDY ON IMPACTS OF COMPETENCY MAPPING AT IT SECTORS IN CHENNAI R. ANANDHA GANESH Final Year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous) Mylapore, Chennai -04 ABSTRACT This study is conducted with the view to measure the impact of competency mapping used by IT sector. Competency mapping is a process which identifies an individual's strength and weakness in order to help them to better recognize themselves. It is a key human resources management tool in modern business organizations. It becomes all the more important in service industries where the success of the firm depends solely on the competencies and motivations of its employees. The present study reflects upon the IT employees of different organizations among the Chennai city. The satisfaction level, the awareness level and the skills related with the employees are measured here. The companies can improve their level of competency in the HR field by adapting various tools to recruit the employees. This study also tries to measure the outcome with various tools used. KEY WORDS: Competency mapping, awareness level, types of skills, satisfaction level, competency tools. I. INTRODUCTION “Right person for the proper job” has been the motivation among the hours inside the IT sectors. Competency mapping is the activity that deserves most important role in an organization. ARTHASHAASTRA by CHANAKYA was most probably the first book on competency mapping before 3000 years ago. Competency mapping analyses the employee‟s individual career growth. It has been most effective in the areas of training, development, performance management, skill identification, knowledge improvement, etc. It is a vital component in our day to day life. Many organizations across the world have taken to doing the job „The Competency way‟ and if one is sure that performance is the only visible visage of organizational efficacy then competency driven patterns or models could only develop greater condition in ascertaining both the employee and organization efficacy. It is often observed that the HR function can understand the situation quickly and adopt it by using this method to align the human resources to the super-ordinate objectives and the larger vision, mission and profit of the organization. II. OBJECTIVES OF THE STUDY • To measure the awareness level of the competencies of employees in the IT sector. • To analyze the various types of skills with the employees working in IT sector. • To find out the satisfaction level of the employees of IT sector and competency mapping undertaken by the company. • To Identify The Different Competency Mapping Tools Used In The IT Sector. Statement of Problem Many IT companies at present do not have the full knowledge of competency mapping. Organizations are facing huge complications in finding the suitable skilled workers who can help their organization building and sustain competitive advantage. There is a lack of well-established network by which skills and distinctive competencies of employees can be assessed. There is a big gap between the factors for success for jobs and work roles within the organization. In today‟s intensively competitive and globalized market place, building and maintaining a competent workforce has become a very tough task. The Study attempts to find the issues and the impacts. Research Methodology The research effort is descriptive in character. Data was gathered using a questionnaire administered to the respondents. Basic tools of analysis used were • Anova This tries to measure difference between two variables. • Percentage Analysis This tries to analyse the totality of the study and gives the result in percentage method which is easily used for statistical measures. • Chi Square Analysis It tries to measure the association between two variables. • Sample Size: 50 respondents • Sample Area: chennai

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Limitations of the Study • Gaining the attention and cooperation of the employees was not easy at earlier stage as they were not aware of such topics. • Secondly, the modest sample size used in this study is the main limitation. • Number of samples and sampling methods were selected with constraint of time and budget. • The given information by the respondents may be biased one, as the information were based on the own technical skills of the employees. Review of Literature • Ramakrishnan (2006): The researcher had discovered that competency mapping has identified an individual’s strengths and weaknesses in order to make them understand better and to show them where career development efforts need to be directed. It is used to identify key attributes required to perform effectively in a job classification. • Ashok Sankethi (2008): The researcher had explained that Competency mapping is the process of identifying key competencies for a particular position in an organisation. The research also studied that once the process is complete, the map becomes an input for several other HR processes such as job-evaluation, recruitment, training and development, performance management; and succession planning. To make the competency mapping more productive the firm must be strong in its long term and short term goals. The process starts from as macro an endeavour as understanding the vision and mission of the organisation and how that translates into specific, time-bound business goals. • Uddin M.I. et al (2012): The researcher had studied about the set of organisations using the competency mapping and the employee’s development programmes. This had mainly focused on individuals helping them to sort out their dynamic skills in the environment and to acquire the new skills. The research also found that the employees are better towards managing the intellectual and emotional challenges. The study concluded and suggested that the competency mapping can be done for workers of all types and align them to specific skills so that their value of potential is increased. • Jaideep Kaur & Vikas Kumar (2013): The researchers in their article stated that Competency Mapping is a process of identifying key competencies for a company or Institution and the jobs and functions within it. The theory also stated that Competency required for a particular job depends on many factors, where the factors include social culture, nature of the business, business environment, organizational culture, work surroundings, organization structure, duties and responsibility, nature of processes and allocated activities, attitude, superior and subordinates. The result concluded that some of the job factors may change with time and thus changing competency requirements for the same job position in the organization is effective. • Chouhan, V.S. & Srivastava. S (2013): This researchers study relates to the development of the competency mapping for HR professionals in the IT industry. The research was core on finding out the relationship between the possession of companies and successful job performance. This explains the fact that HR companies have different roles to play and each role requires the different dimensions of the behaviour. This research concluded with the point that the competency mapping is a viable tool that can be utilized to prepare the current and future workforce and retain the skills of the employers and to meet the job requirements. Analysis and Interpretation Hypothesis of the Study This study has analyzed keenly the following hypothesis with the help of different measuring tools. • H0: There is no significant relationship between the age and satisfaction level of competency mapping undertaken by the IT sector. • H1: There is a significant relationship between age and satisfaction level of competency mapping undertaken by the IT sector. • H0: There is no significant difference between age and awareness level of competency of employees. • H1: There is a significant difference between age and awareness level of competency of employees. • H0: There is no relationship between gender and types of skills with the employees. • H1: There is a significant relationship between gender and types of skills with the employees. Hypothesis 1 Table 1 Table showing the ANOVA of satisfaction level of competency mapping with Age Particulars Between Groups Within Groups Total

ANOVA Sum of Squares df Mean Square F .511 3 .170 .239 32.709 47 .711 33.220 50

251

Sig. .868

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

Interpretation From the above table 1, it is found that the result of significance level is = 0.868 which is > than 0.05 i.e., null hypothesis gets proved that There is no significant relationship between the age and satisfaction level of competency mapping undertaken by the IT sector. Table 2 Table showing Chi-square tests of satisfaction level of competency mapping with Age Chi Square Tests Asymp. Sig. (2Value df sided) Pearson Chi-Square 14.795a 9 .097 Likelihood Ratio

17.119 9

.047

Linear-by-Linear Association .260 1

.610

N of Valid Cases 50 Interpretation From the above table 2, it is found that the result of significance level is = 0.097 which is > than the null hypothesis value 0.05. And thus null hypothesis gets proved that, there is no significant relationship between the age and satisfaction level of competency mapping undertaken by the IT sector. Hypothesis 2 Table 3 Table showing ANOVA of Awareness level and age ANOVA Sum of Mean Particulars df F Sig. Squares Square Between Groups .815 3 .272 .893 .452 Within Groups 14.000 46 .304 Total 14.815 49 Interpretation From the above table 3 it is found that the result of significance level is = 0.452 which is > than the null hypothesis value 0.05 and thus null hypothesis can be accepted and its hence proved that there is no significant relationship between awareness level of the employees over the age factor. Table 4 Table showing Chi-square tests of Awareness level and age Chi-Square Tests Asymp. Sig. Value df (2-sided) Pearson Chi-Square 49.155a 54 .661 Likelihood Ratio 53.511 54 .493 Linear-by-Linear Association .844 1 .358 N of Valid Cases 50 Interpretation From the above table 4, it is found that the result of significance level is = 0.661 which is > than the null hypothesis value 0.05 and thus null hypothesis can be accepted and its hence proved that there is no significant relationship between awareness level of employees over the age factor. Hypothesis 3 Table 5 Table showing ANOVA of Gender over the types of skills ANOVA Particulars Sum of Squares df Mean Square F Sig. Between Groups 36.125 1 36.125 1.209 .277 Within Groups 1433.875 49 29.872 Total 1470.000 50 Interpretation From the above table 5, it is found that the result of significance level is = 0.277 which is > than the null hypothesis value 0.05 and thus null hypothesis gets proved and this states that there is no significant relationship between gender over the types of skills possessed by the employees. 252

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table 6 Table showing Chi-Square Tests of Gender over the types of skills Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 21.788a 18 .242 Likelihood Ratio 27.572 18 .069 Linear-by-Linear Association 1.204 1 .272 N of Valid Cases 50 Interpretation From the above table 6, it is found that the result of significance level is = 0.242 which is > than the value of null hypothesis 0.05 and thus null hypothesis gets proved and this states that there is no significant relationship between gender over the types of skills possessed by the employees III. FINDINGS Demographic factors findings  Respondents are 26% from 18- 25 years of age category, 34% from 26-30 years of age category, 32% from 31-40 years of age category and 8% are from above 40 years of age category.  There were 36% female respondents and 64% male respondents.  There were 56% post graduate people and 44% under graduate people who have responded to this study.  There were 72.3% who have responded to this study are from higher income scale that is they earn more the 5 lakhs p.a., 12.8% from the income scale where they earn between 2 to 5 lakhs p.a. and 14.9% earn less than 1 lakh tentatively. Hypothesis findings Hypothesis 1: It is proved from the chi square and anova tests that there is no significant relationship between the age and satisfaction level of the employees. Hypothesis 2: It is proved from the chi square and anova tests that there is no significant relationship between age and awareness level of the employees. Hypothesis 3: It is proved from the chi square and anova tests that there is no significant relationship between the gender and types of skills possessed by the employees. IV. SUGGESTIONS • The study is discussed based on the findings of each and every dimension namely, communication, leadership, teamwork, decision making, skills of the employers, knowledge, behaviour, time management, creativity, usage of technology, and the reference of these tests have also been attached. • Human resource management in the organization has to give importance to the process of competency mapping although competency defines the organization‟s effort to compete with quantity and quality in every aspect of the organization. • To sustain in a flexible business environment, organizations have to adopt competency based human resource management practices, which are necessary for the productivity and performance excellence. V. CONCLUSION This paper has been presented in such a way that the usage of competency mapping in IT sector has been known to a certain level. In order to improve their level of competence their leadership quality towards planning to achieve the productivity to maintain the required competence levels has been tested to find out the area needed to be strengthened with all the factors available. VI. REFERENCES 1. http://www.ijoart.org/docs/competency-mapping-of-the-employees.pdf 2. http://shodhganga.inflibnet.ac.in/bitstream/10603/45230/12/12_chapter3.pdf 3. https://s3.amazonaws.com/academia.edu.documents/31467038/researchpaper_CompetencyMapping.pd f?AWSAccessKeyId=AKIAIWOWYYGZ2Y53UL3A&Expires=1549347170&Signature=IoiabBtYTU YWdUnlx2QlniZudcs%3D&response-contentdisposition=attachment%3B%20filename%3DCompetency_Mapping_A_DRIVE_FOR_INDIAN_IN.p df 4. https://s3.amazonaws.com/academia.edu.documents/39604391/PAPER1IRJHRSSOCT2015.pdf?AWS AccessKeyId=AKIAIWOWYYGZ2Y53UL3A&Expires=1549347118&Signature=3BsWqn9lsAKfTn CqDBbSgXJ%2FMhk%3D&response-contentdisposition=attachment%3B%20filename%3DROLE_OF_COMPETENCY_MAPPING_IN_INDIAN_ COM.pdf

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http://www.kaavpublications.org/journals/journal-1/article/article-1653.pdf https://www.ijser.org/researchpaper/Competency-Mapping.pdf http://shodhganga.inflibnet.ac.in/bitstream/10603/45230/16/16_chapter7.pdf https://www.researchgate.net/profile/Deepti_Sinha2/publication/315487443_APPLYING_COMPETE NCY_MAPPING_IN_THE_INFORMATION_TECHNOLOGY_SECTOR/links/58d223cea6fdcc3fe7 852e0b/APPLYING-COMPETENCY-MAPPING-IN-THE-INFORMATION-TECHNOLOGYSECTOR.pdf?origin=publication_detail 9. http://shodhganga.inflibnet.ac.in/bitstream/10603/139192/12/12_chapter%202.pdf 10. https://www.worldwidejournals.com/international-journal-of-scientificresearch(IJSR)/recent_issues_pdf/2017/May/May_2017_1493902253__262.pdf 11. https://www.researchgate.net/profile/Chaya_Bagrecha/publication/307749157_Competency_Mapping_ in_IT_Industry-A_Road_Map_for_Future/links/59f8465e0f7e9b553ebf0c86/Competency-Mapping-inIT-Industry-A-Road-Map-for-Future.pdf?origin=publication_detail 12. https://www.acmeintellects.org/images/AIIJRMSST/Apr2014/6-1-14.pdf

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A STUDY ON IMPACTS OF CONFLICT MANAGEMENT AMONG EMPLOYEES WORKING IN ITS SECTOR VS. ANIRUDH Final Year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College Evening (Autonomous) Mylapore, Chennai -04 ABSTRACT In today's business environment, workplace conflict is an imperative issue. Research in the conflict management domain says that conflict in the workplace is on the rise and will continue to go up; however, many leaders and managers are not fully aware of structures and processes available to effectively manage it. This article presents the results of a pilot study conducted in Chennai city to know about conflict management and managers' awareness, perception, and use of conflict management systems and strategies. The findings reflect the lack of a clear definition of the issue, the absence of integrated conflict management systems within most organizations, and dissatisfaction with present grievance systems. There is substantial opportunity for additional research in the future. KEY WORDS: Conflict Management, Collaboration, Contradiction, Optimal Solutions I. INTRODUCTION Conflict is a disagreement, contest or dispute between people who differs in their ideas, needs, goals, values or beliefs. Conflict management refers to the ways and principles that people follow in handling problems. It is a process that involves plans to avoid conflicts as much as possible, and handling the conflicts when they occur, as smoothly and within the shortest time. Conflict management signifies that not all conflicts can be resolved, but they should be managed to a productive level such that they do not increase to a level affecting performance and production. Individual skills of solving conflicts are usually derived from the observations that one makes when looking up to their parents or guardians solving them at home. Unresolved conflicts usually lead to aggressive behavior. More often conflicts results from miscommunication between people regarding matters of opinion, beliefs and values. Therefore, research has been carried out to find out how conflicts are managed in the workplace. Objectives of the Study  To know how gender influences conflicts  To find out the reasons why conflict arises  To find out the positive and negative aspects of conflicts  To find out the ways through which employees manage these conflicts  To give some suggestions Statement of the Problem Conflicts among employees in IT sector have been a tool of disharmony over the years. There has been a case of workers and organization having a serious conflict which in most cases lead to problems and undue delay in the administrative process. Lack of conflict management strategies is an issue where no corrective measures are being taken to resolve the problems of the employees. Research Methodology Data Collection Primary data Primary data is information collected by the researcher directly through instruments such as surveys, interviews, focus groups or observation the primary data was collected from the respondents by means of questionnaire Secondary data Secondary data refers to data that was collected by someone other than the user. Secondary data were collected from various websites, journals and other publications. Sample Size The size of sample should neither be excessively large nor too small, it should be optimum. Sample size in this research is 100. Sampling Area The sampling area chosen for this research is Chennai city. The questionnaire was sent out to the people working in IT sector across various parts of Chennai. Sampling Technique Convenience sampling based on availability, reach and accessibility is used for the purpose of collecting data from the respondents in this research.

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Statistical Tools Used Frequency and Percentage Analysis,Chi Square, Anova Hypothesis of the Study 1. H0- There is no significant relationship between gender and causes of conflict. H1- There is a significant relationship between gender and causes of conflict 2. H0- There is no significant relationship between age and conflict among groups H1- There is significant relationship between age and conflict among groups 3. H0- There is no significant relationship between age and conflict among individuals H1- There is significant relationship between age and conflict among individuals. Limitations of the Study  Many of the respondents were not willing to fill the questionnaire  Sample size is restricted to 100 people and result may change when bigger sample is chosen  The active participation of the respondents was lacking  Due to time constraint the data is collected according to convenience  Due to privacy concern of the respondents, most of them were hesitating to give responses Review of Literature 1. A literature review exploring values alignment as a proactive approach to conflict management by Rona Lynn Fitzpatrick in the year 2007 The research aim has two objectives: to clarify the concepts of values, collaboration and conflict and their relationship with one another within organizations; and to provide adequate data that supported or disconfirm values alignment as a forehanded approach to conflict management. 2. Conflict management and performance outcomes by Richard A. Posthuma in the year 2011 This introduction aims to summarize five studies included in this themed issue that focus on conflict management and performance outcomes. These studies throw light on how conflict management research can help organizations perform more effectively. When negotiators consider more than one issue at a time and use a constructive conflict -solving approach, they can reach better outcomes. Study found that innovative work behaviors had a positive relationship to workplace conflict. 3. Conflict management styles: the differences among the Chinese, Japanese, and Koreans by Tae‐Yeol Kim in the year 2007 The objective of this paper is to examine how the Chinese, Japanese, and Koreans resolve an interpersonal conflict with their subordinates and how cultural factors explain the differences in conflict management styles. Koreans, compared to the Chinese and Japanese, were more likely to use a compromise style. In addition, the Japanese, compared with the Chinese and Koreans, were less likely to show control and were more likely to oblige their subordinates. 4. Ten years of conflict management research 2007-2017: An update on themes, concepts and relationships by Andrea Caputo in the year 2018. The purpose of this study is to chart the intellectual structure of conflict management studies by investigating the key themes, concepts and their relationships for the period 2007 -2017. Data Analysis and Interpretation Hypothesis 1 - Gender and causes of conflicts H0- There is no significant relationship between gender and causes of conflict. H1- There is a significant relationship between gender and causes of conflict Chi-square tests Table 1 Causes of conflict Values Contradiction .010 Purposely made by one person to block .115 another Disagreement between two persons .332 Competition between two persons .032 Interpretation From the above table 1, it can be inferred that the research hypothesis (H1) has acceptedfor two causes namely competition between two persons and contradiction as their chi-square values are less thanthe desired limit of 0.05. There is a significant relationship between these two variables. The other two causes are disagreement between two persons and purposely madefights,got null hypothesis accepted as their chi-square values are less than 0.05.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Hypothesis 2 - Age and conflicts among groups H0- There is no significant relationship between age and conflict among groups H1- There is significant relationship between age and conflict among Table 2 ANOVA Sum of Squares

Df

Mean Square

F

Sig.

5.389

3

1.796

1.335

.268

129.201

96

1.346

134.590

99

Between Groups

5.941

3

1.980

2.638

.054

Within Groups

72.059

96

.751

Total

78.000

99

Between Groups

7.001

3

2.334

2.436

.069

91.989

96

.958

Total

98.990

99

Between Groups

5.250

3

1.750

2.331

.079

72.060

96

.751

Between Groups gender differences Within Groups Total

lack of cooperation

leadership control Within Groups

adjusting capacity Within Groups

Total 77.310 99 Interpretation The above table 2 shows the results of Anova done to test the hypothesis between two variables age and conflict among groups. All the four causes of conflict among groups got their anova values greater than 0.05. So, there are no relationships between the variables and null hypothesis (h0) is accepted. Hypothesis 3 - Age and conflict among individuals H0- There is no significant relationship between age and conflict among individuals H1- There is significant relationship between age and conflict among individuals. Table 3 Chi-square tests Causes of conflict among individuals Value Interfering in personal issues 0.054 Gossips 0.054 Mental stress 0.107 Dominating others 0.130 Interpretation The above table 3 shows the results of chi-square tests done to test the hypothesis. All the four causes of conflict among individuals got their chi-square values more than the desired limit of 0.05. Therefore, there exists no significant relationship and null hypothesis is accepted. II. FINDINGS  Also, the age factor doesn’t have a relationship for fights to arise among groups. People of different age group form a team and no predetermined cause is responsible for fights. It is the communication, trust, other common factors that are generally responsible.  Managers are usually elder in age and they have every right to get work done from their subordinates. As a result, age is not a contributing factor for conflicts to arise among individuals.  Positive aspects of conflicts are a majority when compared to negatives. The most important positive would be the employees thought process and his willingness to change after a fight. Lots of problems are solved if he thinks rationally. Conflicts do bring attachment among employees.  Stress and tension are the major negative of conflicts. Employees become physical when the conflicts go out of hands.

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There is not much significant relationship between gender and causes of conflict. Conflict takes form due to many reasons and both the gender are equally responsible. III. SUGGESTIONS  Organization should make efforts to bring the employees together and create bonding between them by organizing tours, team events etc.  Provide a suggestion box, check it frequently and personally reply to all suggestions.  Conflict management training should be given to the people at managerial level and mock stress interviews should be done regularly.  Stress interview should be a part of the selection process and employees joining the company have to compulsorily clear them.  Thinking from other persons point of view during fights is essential and it should be done calmly IV. CONCLUSION Understanding the patterns of conflict, and learning approaches to conflict resolution, managers will be able to establish a work environment in which creativity and innovation is encouraged and project goals are accomplished. Some common ways to tackle conflicts areYou need a wide variety of ways to deal with those who disagree with you if you want to be effective, you sometimes need to change your style or methods to work with the person who disagree with you, using compromising and avoiding as often as possible makes decision making effective. V. REFERENCES 1) https://www.managers.org.uk/knowledge-bank/conflict-management 2) https://blog.socialcops.com/academy/resources/6-sampling-techniques-choose-representative-subset/ 3) https://nairaproject.com/projects/506.html 4) https://www.ukessays.com/essays/commerce/introduction-to-conflict-management-commerceessay.php 5) https://www.linkedin.com/pulse/positives-negatives-conflict-workplace-muthu-subramanian 6) https://www.mediate.com/articles/donaisB2.cfm 7) http://sourcesofinsight.com/conflict-management-styles-at-a-glance/

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A STUDY ON CONSUMER’S PERCEPTION AND THEIR SATISFACTION TOWARDS SECOND-HAND BIKES IN CHENNAI S. ABINESH Final year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai -04 ABSTRACT The research is about to find the customer's perception and their satisfaction level towards second-hand bikes in Chennai city. The study is meant to be carried on by conducting a survey through a questionnaire prepared by considering the demographic , psychological and technical factors that have influences on their perception and their attitude towards the used bikes. The survey is conducting by interviewing a sample size of 100 respondents. Various definitions of every terms in the research is clearly explained so that knowledge about each and every terms that are defined technically is known to the reader of the article and knowledge is given to the buyer. Hypothesis tests are conducted after surveying that enables the buyer to know that, are the factors are related to one another or not. By knowing the problems and other technical related problems that the consumers faces while buying those kind of used bikes , proper suggestions are given to them that it stands as a solution to them and enable them to buy a good and satisfying bike of their own interest. To find the results ANOVA and Chi-square tests are used. KEYWORDS: Customer perception, Customer satisfaction, Second-hand bikes, Consumer's attitude, Challenges faced. I. INTRODUCTION The study starts with a brief insight into the evolution of the Indian automobile industry, the two-wheeler industry, motorbike industry and the present structure of the same. As mentioned earlier the study is on Consumers perception and their satisfaction level towards second hand motorbikes, which includes the attributes that influence the consumers the most and the second-hand bike of the kind they prefer the most. It is not necessary for all the people to spend a huge amount and to buy their comfortable vehicles. They are at alternate way to buy their favorite bike in used stage by the previous buyer. Buying a second-hand two-wheeler is never easy, because of the hassles involved with discovering the right price as well as the lack of transparency in disclosing defects in the vehicle.. The respondents were asked a series of questions through which an analysis has been made on the key factors and attributes that influence and drive the consumer’s preference towards second-hand bike in their purchase decision process. After knowing about the problems and issues faced by them from the second-hand bikes, they are some conclusions and recommendations are from the study. Objectives of the Study The following are the objectives of study:  To find out the customer's attitude towards second hand bikes  To find out the satisfaction level of customers using second hand bike.  To know the impacts of customers using second hand bike.  To find out the challenges faced by the customers.  To give some of the suggestions to overcome the challenges faced Statement of Problem Question of where do large amount of used bike goes made to research in this topic concerned. What makes consumers prefer to buy a vehicle in second-hand. How a consumer selects a motor vehicle when buying it in second-hand. What are the challenges faced by a consumer handling a second-hand vehicle. Solutions for them based on the observation and the research. Methodology The methodology that is adopted for the purpose of research is primary and secondary data sources. Primary data Primary data type of collecting a data is suitable to the aim and the objective of the study. No special care is needed while collecting a data primarily and here the data is collected primarily through a questionnaire by interviewing them from the respondents. Secondary data On using the secondary data, careful observation of the source, mode and objective of the data is needed. The secondary data sources are literatures, websites and articles that are used as a references for the research purpose.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Sampling size The sampling size of the research is 100 respondents. Sampling area The sampling area on which the research is done is Chennai city. Limitations of the Study  As research is through the preparation of questionnaire questions may or may not reach the real consumers.  Research is undertaken with a target audience of 100 respondents only, that the opinions are shortened.  Survey is time is only 6-month period that it may not be appropriate in research.  The challenges may or may be happened which is included in the study.  Target audience may or may not be experienced every situation linked with the questions. Review of Literature 1. Customers give more importance to fuel efficiency in second hand products than other factors. They believe that the brand name tells them something about product quality, utility, technology and they value more highly to purchase the passenger cars which supply high fuel efficiency, sensible quality, technology, durability and reasonable price Author - Chidambaram and Alfread, 2007 Topic - Customer importance towards fuel efficiency in second-hand passenger cars 2. A used car can be much cheaper than its new counterpart. The depreciation is less and car financing too can be obtained easily. A survey revealed that the demand for the used car market in India per year is 1.4 million cars Author - Carazoo, 2012. Topic - A survey on second-hand automotive in India. 3. Evaluating product attributes is fundamental for used goods because they indicate the quality of the items, value and its foreseeable future. This assessment in this research Conceptual Matrix for Product Cues in Second-Hand Market is categorized into two sets: (1) visible or verifiable and (2) invisible or unverifiable Elements of the product’s physical appearance act as factor for the purchase of the used products Author- Auto-India magazine,2013 Topic - Customer's satisfaction towards used goods in India 4. India’s top selling automobile brands, such as Maruti Suzuki, Toyota and Hyundai have established their footprint within the Indian used cars market. Among those who aforesaid they might choose a second -hand automobile, more than 0.5 declared that a second-hand car is a cheaper possibility if the car is in a good condition Author- Boston Analytics 2008 Topic- Second-hand perception of top-selling cars in India Analysis and Interpretation 1. Relationship between age and satisfaction level A) Chi-square test Table 1 Table showing the Chi-square tests of Age and Satisfaction level Chi-square tests Attributes Pearson chi-square Value Df Asymp. Sig. (2-sided) Price 8.650a 12 .733 Performance 11.245a 9 .259 Comfort 9.102a 10 .004 Mileage 10.365a 11 .154 Life 11.675a 9 .124 Interpretation From the above table 1, the significant value of price, performance , mileage and life is more than 0.05 null hypothesis is accepted and alternate hypothesis is rejected and it is not related with those attributes but related with comfort as the significant level is less than 0.05 for it hence here alternate hypothesis is accepted and vice versa.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 B) Anova Table 2 Table showing the ANOVA of Age and Satisfaction level ANOVA Satisfaction with respect to Sum of squares Df Mean square F Sig. Between groups 1.845 3 .615 .886 .451 Price Between groups 1.475 3 .492 1.042 .378 Performance Between groups 1.689 3 .563 .919 .435 Life Between groups 1.847 3 .616 .931 .429 Comfort Between groups .609 3 .203 .367 .777 Mileage Interpretation From the above table 2, the significant value of performance, mileage, comfort and life is more than 0.05 null hypothesis is accepted and alternate hypothesis is rejected and it is not related with those attributes but related with price as the significant level is less than 0.05 for it hence here alternate hypothesis is accepted and vice versa. 2. Gender and satisfaction level: A) Chi-square test Table 3 Table showing the Chi-square tests of Gender and Satisfaction level Chi-square tests Attributes Pearson chi-square Value Df Asymp. Sig. (2-sided) Price 9.944a 4 .041 Performance 1.349a 3 .718 Life .749a 4 .945 Comfort 2.504a 4 .644 Mileage 2.451a 4 .653 Interpretation From the above table 3 ,the significant value of comfort, performance , mileage and life is more than 0.05 null hypothesis is accepted and alternate hypothesis is rejected and it is not related with those attributes but related with price as the significant level is less than 0.05 for it hence here alternate hypothesis is accepted and vice versa. Table 4 Table showing the ANOVA of Gender and Satisfaction level ANOVA Sum of squares Df Mean square F Sig. Between groups .730 1 .730 1.056 .307 Bike's price Within groups 67.780 98 .692 Total 68.510 99 .000 1 .000 .000 .989 Bike's performance Between groups Within groups 46.760 98 .477 Total 46.760 99 Between groups .017 1 .017 .028 .869 Bike's life Within groups 60.493 98 .617 Total 60.510 99 Between groups 1.540 1 1.540 2.366 .127 Bike's comfort Within groups 63.770 98 .651 Total 65.310 99 Between groups .247 1 .247 .453 .502 Bike's mileage Within groups 53.463 98 .546 Total 53.710 99 Interpretation From the above table 4, the significant value of price, performance, comfort, mileage and life is more than 0.05 null hypotheses is accepted and alternate hypothesis is rejected.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 II. FINDINGS  The chi-square tests between age and satisfaction level we come know that only comfort attribute is related with the satisfaction level and age group and other attributes are considered as not related to each other.  The chi-square tests between gender and satisfaction level we come know that only price attribute is related with the satisfaction level and age group and other attributes are considered as unrelated to each other.  The ANOVA tests between age and satisfaction level we come know that no attribute is related to the factor.  The ANOVA tests between gender and satisfaction level we come know that no attribute is related to the factor. III. SUGGESTIONS  While buying a second-hand bike paper works are very important so look forward that the people get NOC, PUC and delivery statement.  And on going for a purchasing process it is advisable to have a trained bike mechanic so as to reduce the risk of technical defaults in the bike.  Check the engine chasis number for preventing fraudulent activities from the bike. IV. CONCLUSION This research seems also to be helpful for the persons selling their used motorbikes and most probably it will help for the dealers in second hand motor bikes especially. As a dealer wanted to deal only in the line of those bikes that will move on fast. Moving on fast means those bikes that the consumer percepts to buy in the second-hand market. Their perception includes their satisfaction towards various they conclude and also the challenges they face after buying the motorbike in second-hand. This study is clearly defining those hindrances of the consumers and thereby it facilitates the work second-hand bike dealers also. V. REFERENCES 1. https://www.emeraldinsight.com/doi/full/10.1108/07363760010341063 2. http://shodhganga.inflibnet.ac.in/bitstream/10603/33812/3/3.%20chapter%20ii.pdf 3. http://shodhganga.inflibnet.ac.in/bitstream/10603/33812/3/3.%20chapter%20ii.pdf 4. https://www.worldwidejournals.com/paripex/recent_issues_pdf/2016/November/November_2016_1478613 517__74.pdf 5. https://www.grin.com/document/278444 6. https://lib.dr.iastate.edu/cgi/viewcontent.cgi?article=4643&context=etd 7. https://www.nap.edu/read/23487/chapter/4 8. http://shodhganga.inflibnet.ac.in/bitstream/10603/32886/9/09_chapter%202.pdf

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CONSUMERS BUYING BEHAVIOR IN RELATION TO DURABLE GOODS A STUDY WITH SPECIAL REFERENCE TO CHENNAI CITY N. K. SUDARSHAN Final year student, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College Evening College [Autonomous], Mylapore, Chennai – 04 ABSTRACT Consumer is the focal point of modern-day business enterprises as the enterprises are operating in cutthroat competition. In past, when it comes to consumer durable goods, they were considered as something meant for the upper class of the society, but now the same is being used by almost every household. The consumer durables business is working during an extremely competitive, complex and rapidly changing business environment. India’s consumer market is riding the crest of the country’s economic boom. Use of durables is turning into more and more well-liked in recent years in the Asian country. The study of client behavior helps in understanding however people build choices to pay their obtainable resources like time, money, and effort while purchasing goods and services. Hence this study focused on the purchasing behavior of durable goods among consumers. Keywords: Consumer durable goods, buying behavior, Purchasing decision, Consumer durable market, Consumer awareness. I. INTRODUCTION Consumer behavior is defined as the process which people undertake for purchasing and consuming a product or service. The whole process is affected by multiple factors including income, gender, age group, surrounding people, over the shoulder responsibilities and much more. Consumer behavior is the study of how people buy, what they buy, when and why they buy. It attempts to understand the buyer‟s decision making. It studies the characteristics of the individual consumer such as demographics, psychographics and behavioral variables in an attempt to understand people‟s wants. It also tries to assess influences on the consumers from groups such as family, friends, reference groups and society in general. Consumer Buying Behavior A consumer shopping for Behavior the buyer shopping for behavior will be outlined because the manner during which customers or consumers of products and services tend to react or behave once buying products that they like. Buyers tend to exhibit different kinds of shopping for behavior after they are within the method of buying merchandise and services and also the behaviors witnessed are influenced by the kind of product he/she wants to buy. A consumer shopping for behavior involves a protracted method wherever the client must determine the merchandise, study well its options, the pros and the cons and lastly deciding on whether to purchase it or not. A consumer shopping for behavior would build a definite vendee to get product A as critical product B or whether or not to get a definite product or leave it alone and all that's as a results of the shopping for choices created by the client on whether or not the merchandise suits his/her wants and necessities. Consumers of goods and services may possess different types of consumer buying behavior that is unique to them. Consumer Durable Goods Consumer durables client durables talk over with varied devices employed in a family room to scale back manual human labor content and to get rid of the grind in operating place and to form family activities speedy, tidy and enjoyable. There is, in the present day, a large number and a variety of such household appliances like Air conditioners, Refrigerator, Television, Washing machine and, Wet Grinder. To make life a lot of pleasurable, people also own audio and video players, home theatres and music systems. The researcher selected durable goods like Air conditioners, Refrigerators, Television, Washing machine and Wet grinder for the present study. The share of gold ornaments in durables expenditure was estimated at nearly 24% in rural India compared to about 20% in urban India. The refrigerator had a share of over 21% in urban India, compared to 9% in rural India. The share of motorized two-wheelers was regarding twelve - Bastille Day in each sector. Household consumption of assorted merchandise and services in the Asian country.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Shopping Pattern of Consumer Durables The present world is changing fast. India is no exception. Especially when the gap from the economy, the pace of change that India and its people are experiencing in their socio-cultural milieu is mind-boggling. India, with its wide diversity, offers a desirable scope to check the host of changes that organic process activities have caused in its social and economic framework. Objectives of the Study  To analyze and compare the buying behavior of consumers on the basis of demographic characteristics  To assess the satisfaction level and problems faced by customers on purchase of consumer durables. Review of Literature 1. Venkateswara and Reddy (2009) studied about the marketing of television sets among 300 households of Prakasam district of Andhra Pradesh. It was found that, in most of the cases head of a household and his wife acted as a decision maker. Influence of wealth, income, education and savings were found negative. But influence of advertisement was found higher in the study. 2. Alet C. Erasmus, Meriam M. (2012) has focused on the ―The Paradox of Progress: Inexperienced Consumers„Choice of Major Household Appliances‖. The results supported the initial notion that limited consumer socialization may result in, and even necessitate inexperienced consumers „reliance on surrogate indicators of quality, such as price, brand name and store image, as compensation for lack of appropriate product knowledge unfortunately the use of surrogate indicators of quality does not necessarily imply informed, Responsible buyer behavior. 3. Sudarshan R. and Sridhar, (2013) have conducted ―Impact of Consumer Involvement of Buying Decision A Conceptual Frame-Work. Consumer involvement refers to the intensity of interest with which consumers approach the market place. It is related to the consumers „values and self-concept which influence the degree of personal importance ascribed to a product or situation consumer involvement varies Krishna across different individuals, product, brands and situations. Research Methodology The research was Descriptive research. The primary or the first hand data was collected with the help of handing out the questionnaire to the customers. Convenience sampling is used to obtain data or information by administration of questionnaire through Google form (Sample of 115 was collected through questionnaire). The Interpretation of data was based on the Classification of the respondents like age, gender, educational qualification and family size. Frequency analysis, mean analysis, chi-square, correlation are the statistical tools used for analyzing the data. Table 1 Frequency Analysis GENDER Male Female Total Age Group Below 20 yrs 20-30 yrs 30-40 yrs 40-50 yrs Above 50 yrs Total Family Size Joint family Nuclear family Total Educational Qualification HSC Under graduate Post graduate Professionals Others Total

FREQUENCY 67 48 115 Frequency 27 47 18 21 2 115 Frequency 36 79 115 Frequency 19 50 20 22 4 115

Source: Primary data

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PERCENTAGE ( % ) 58.3 41.7 100 Percentage ( % ) 23.5 40.9 15.7 18.3 1.7 100 Percentage ( % ) 31.3 68.7 100 Percentage ( % ) 16.5 43.5 17.4 19.1 3.5 115

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation The Table 1 shows the Frequency analysis of Gender, Age group, Family size and Educational qualification of the respondents. From the above table it is inferred that 58.3% of respondents are male and 41.7% of respondents are female. 23.5% of respondents belongs to below 20 years age category, 40.9% of respondents belongs to 20-30 years age category, 15.7% of respondents belongs to 30-40 years age category, 18.3% of the respondents belong to 40-50 years age category and 1.7% of respondents belongs to above 50 years age category. 31.3% of respondents are joint family and 68.7% of respondents are nuclear family. 19 respondents have completed their school level education, 50 respondents have completed their under graduation, 20 respondents have completed their post graduation, 6 respondents are professionals in their educational field. Table 2 Mean analysis of Various Factors consider before buying durable goods Preferences SA A N D SD Total Mean Habit of collecting information about the product 41 18 19 23 14 115 2.40 Compare the price of different shops and dealers 16 44 30 25 3 115 2.45 Buy best quality products 20 28 38 16 10 115 2.28 Take time to shop carefully 19 27 35 27 7 115 2.30 There are so many brands so it feel confused 16 36 26 30 7 115 2.46 Source – Primary data (SA - Strongly agree; A - Agree; N - Neutral; D - Disagree; SD - Strongly disagree) Interpretation The table 2 shows the Mean analysis of Various Factors consider before buying durable goods by the respondents. From the above table it is identify that Majority of the respondents agree that they have habit of collecting information about the product. Majority of the respondents agree that they compare the price of different shops and dealers. Majority of the respondents agree that they buy best quality product. Majority of the respondents agree that they take time to shop carefully and Majority of the respondents agree that there are so many brands so it feels confused for them to choose the best product. Hence, from the above table it is concluded that Habit of collecting information about the product, Compare the price of different shops and dealers, Buy best quality products, Take time to shop carefully, There are so many brands so it feel confused are some of the main factor to consider before buying durable goods. Table 3 Chi-square Monthly income*Average amount spent Value

df

Pearson Chi-Square

30.333a

12

Asymptotic Significance (2-sided) 0.002

Likelihood Ratio

33.791

12

0.001

Linear-by-Linear Association

16.824

1

0.000

N of Valid Cases

115

Source – Primary data Interpretation The table 3 clearly states that the significance level is less than (0.05). Which means that monthly income and average amount spent of durable goods significantly influences the satisfaction towards consumer durable goods. Table 4 Correlation Be st quality products*Highe r the price , be tte r the quality Approximate b T 3.337

Approximate Significance

0.299

Asymptotic a Standard Error 0.092

0.267

0.093

2.939

.004c

Value Interval by Interval Ordinal by Ordinal N of Valid Cases

Pearson's R Spearman Correlation

115

265

.001c

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation The table 4 clearly states that the significance level is less than (0.05). This means that best quality products and Higher the price, Better the quality significantly influences the satisfaction of the consumers to buy any durable goods. II. FINDINGS OF THE STUDY  According to the research analysis, it is found that majority (58.3%) of the respondents are male. It is found that majority (40.9%) of the respondents age is between 20-30 yrs. It indicates more than half of the respondents are young people. From the family size of the respondents it is observed that Out of 115 respondents 36 were joint family and 79 are nuclear family. It is observed that most of respondents (43.5%) belong to Under Graduate qualification.  It is concluded that the various factors influences the satisfactory level of the customers towards buying durable goods. All most all the respondents agreed with the factors which influence the satisfactory level of the customers towards buying durable goods, with an average feedback of (agree).  There is a significant influence between monthly income and average amount spent on buying durable goods.  There is a significant influence between the factors to be considered before buying durable goods and the satisfactory level of the consumers. III. SUGGESTIONS  Demand for consumer durables is more volatile since it moves rapidly or evaporates quickly in relation to business conditions. Marketers separate the current demand for durable goods in terms of replacement old products and expansion of the total stock demand for such goods.  Consumers prefer high valued consumer durables of well established brands. The marketers and manufacturers of the consumer durables must try to convert the brand consciousness into brand loyalty for their well established brands. The consumer behavior in this direction should properly be exploited by the manufacturers maximize their sales.  The buyers of the durable goods should insist that all the technical information are revealed on the use of durable products to enable them to use the products without any technical fault leading to frequent repairs, free servicing of the durables by dealers during the guarantee period insisted upon the buyers. IV. CONCLUSION The market for consumer durables is becoming more competitive now a day. Therefore, the producer of durable products should understand consumer interest to find higher sale of their products. Marketers communicate with consumers and try to convince through every possible media. This study also indicates the level of importance attached to the various quality characteristics of the product by the different segments of consumers, who differ in economic, educational, emotional and other characteristics. The demographic variables of the consumers are not deeply associated to their attribute awareness of the product. Through the study it is strongly believed that marketing managers could gather information on consumer psychology as they are interested not only in the product but also the behavior of the consumers because it gives them the right learning for product development and positioning. Thus, a marketer who understands the behavior of the consumers and plan his marketing strategies to suit the needs and aspirations of the target market will definitely have an advantage over his competitors. V. REFERENCES 1. Rajarajan M, Priyanga T. Consumer Pre and Post- Purchase Behavior – An Overview, Asia Pacific Journal of Research. 2012-2013; I (9):92-101. 2. AMARCHAND AND VARADRAJAN B (1977). An Introduction to Marketing: Vikas Publications house Pvt Ltd. New Delhi 3. BENETT P.D. AND HORNALD K. KASSARAJAN. (1976). Consumer Behavior: Prentice hall of India, New Delhi 4. BLOCK CARL E. AND ROERING KENNETH J. (1978). Essentials of consumer Behavior: The Dryen Press illions 5. CLAES FORNELL. (1976). Consumer Input for Marketing Decisions: A study of corporate dept. for consumer affairs: Praeger publisher Inc U.S.A 6. CLARK L.H. (1958). Consumer Behavior: Research and Consumer Reactions: Harper and Brother Publications New York. 7. BAGOZZI, R. & WARSAW, L. (1990) “Trying to Consumer” Journal of Consumer Research 17, (2) pp. 127 – 140 8. BATRA, S.K. & KAZMI, S. (2008) “Consumer Behavior” 2nd edition, EXCEL Books 9. Consumer Behavior By-Ramanuj Majumdar

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A STUDY ON CUSTOMER PERCEPTION TOWARDS PATANJALI PRODUCTS IN CHENNAI CITY D. SOURAV JAIN Final year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda college Evening, Mylapore, Chennai -04 ABSTRACT Consumers today have become conscious about health. They have become more inclined to Ayurvedic and Herbal products. They consume goods that provide maximum satisfaction with no-defect on their health. Fast Moving Consumer Goods (FMCG) are those goods which are used by the consumers on daily basis.For this purpose 100 consumer’s feedback is considered for this study. This study aims to the customer perception towards the Patanjali products through a survey in the city of Chennai.Further analysis brought out the following factors as being the most important in influencing the decision to purchase Patanjali products among its customers: Factors of patanjali product, Marketing strategy, Product quality, competitive pricing, brand image of Baba Ramdev and Advertisements. KEYWORDS: FMCG, Customer Preference, Patanjali, Ayurveda, factor, price I. INTRODUCTION In Indian perceptions about a particular brand are important because Indian customers rely on the perceptions of the people around us affect our decision to buy or not to buy the products. Perceptions are highly subjective and thus easily distorted. This paper carries out a study on factors affect buying decision of the buyers for brand patanjali. Patanjali is a brand set up by PATANJALI AYURVEDA LTD is backed by promotion of world renowned and international authority on Ayurveda and traditional herbs. The marketing environment and heightened competition over the globe has amplified the role of brand at unparalleled level. Every person is a consumer of different brands. The consumer satisfaction is derived when the consumer compares the actual performance of the product with the performance he expected out of the usage. Objectives of the Study  To find out the attitude of customer towards patanjali products  To find out the factors influencing customer to buy patanjali products  To know the satisfaction level of customers using patanjali products.  To find out the causes and effects on customers using patanjali products  To give some of the suggestion. Statement of the Problem Fast Moving Consumer Goods (FMCG) are consumers' goods which are consumed on daily basis. It is classified under three categories: personal care products, household items and foods and beverages. Consumers today have become more health conscious. They consume goods that provide maximum satisfaction with nodefect to their health. They have apt to Ayurvedic and Herbal product. Dabur , Himalaya, Emami, Baidyanath, Patanjali were some ayurvedic manufacturing companies. Over the years, they have positioned their brand for safety and highly responsible products. Although, many brands were available in the market in different price. Among this, Patanjali is growing Rapidly in the market. It entered the industry with the motive to sell product that are purely ayurvedic. The researcher has conducted a study focused on consumer perception towards the Patanjali product. Research Methodology This study attempts to examine the relationship between customer perception about the branding of Patanjali products, which is dependent on independent variables like brand image, product quality, product knowledge, product involvement and product attributes Primary Data The primary data are those, which are collected afresh for the first time for the problem solution, and thus happen to be original in character. It may be obtained from individual, families and representative. Under this it is prepared under simple questionnaire to collect the information. Secondary Data The secondary data are those which have already been collected by someone else and which have to decide which have already been passed through the statistical process. In the context of project study, the source of data used by me for the project is primary type of sources. Sampling Size In the context of the project study, 100 respondents are chosen keeping in view the above constrains. Sampling Area In the context of the project study, this research had been conducted in the area of Chennai city only.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Sampling Method There are various methods of sampling in the context of the project study. Non-probability Sampling Method is used. And under that, Convenience Sampling is the technique used. A simple questionnaire is used to collect the information. Sampling Technique Convenience sampling based on availability, reach and accessibility is used for the purpose of collecting data from the respondents in this research. Statistical Tools Used These are the tools which is used for this study are frequency, mean, chi-square, ANOVA Limitations of the Study  Every attempt will be taken to obtain error free and meaning full result but as nothing in this world is 100% perfect.  The information obtained from the consumer based on questionnaire was assumed to be factual.  Since the survey is based on sampling method, it does not disclose the charter of entire customer.  Product unavailability for the consumer in the market is one of the biggest limitation for Patanjali Products. Review of Literature 1. Rani, S; and Shukla (2012) conducted a study to know the trends of Patanjali products. For the purpose of above study they collected a sample of 100 consumers in Patnagar On the basis of above study they concluded that within a very short period of time Patanjali products captured a number of consumers. 2. Ali, M.I., and Yadav (2015) carried a study to know about consumer perception towards herbal products. The objectives of the above study were to know the reasons of using various herbal products. For the purpose of above study researcher collected data from 60 consumers using herbal products in three cities of Bhopal. On the basis of their study due to chemical products, people had shifted to natural products. Also they concluded that all consumers had a positive attitude towards herbal products and there was no side effect faced by these people. 3. Khanna (2015) carried a study on consumer perception regarding Patanjali products. The objectives of the above study were to know about the perception, satisfaction level and attributes of consumer with regard to Patanjali products. The data was collected by the researcher from 100 respondents in Punjab. They found that consumer were highly satisfied with Patanjali products due to reasonable prices and due to curing ability. 4. Shinde, D.T., and Gharat, S.J.(2017) examined a study on product positioning of patanjali products. The purpose of above study was to find the prospects of patanjali products and also the satisfaction of customers by using patanjali products. They concluded that patanjali has captured a huge market share within a very short time period but shortage of these products is the major problem faced by consumers these days. Layak and Singh (2015) report “Desi bustle v/s MNC muscle” stating how Ramdev’s Patanjali is setting trend for HUL and how Baba Ramdev’s unconventional marketing and strong follower base coupled with aggressive pricing has helped him overtake established players in ayurvedic FMCG like Emami and Himalaya. 5. Layak and Singh (2015) report “Desi bustle v/s MNC muscle” It is stating how Ramdev’s Patanjali is setting trend for HUL and how Baba Ramdev’s unconventional marketing and strong follower base coupled with aggressive pricing has helped him overtake established players in ayurvedic FMCG like Emami and Himalaya Analysis and Interpretation Table 1 Frequency Analysis of Age Group Frequency Percent Valid Percent Cumulative Percent 18-23

67

67.0

67.0

67.0

24-29

21

21.0

21.0

88.0

30-35

8

8.0

8.0

96.0

Above 35

4

4.0

4.0

100.0

Total

100

100.0

100.0

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation The above table 1 show that around 67% of respondents are in the age group of 18-23, followed by 21% of respondents are in age group of 24-29, 8 % of the respondents are in the age group of 30-35, 4% of respondents are above 35. Table 2 MEAN Price Quality Effectiveness Natural Brand image Valid 100 100 100 100 100 N Missing 0 0 0 0 0 Mean 3.26 3.14 3.05 2.97 Combined mean = (3.26+3.14+3.05+2.97+3.20)/5 = 3.12

3.20

Interpretation The above table 2 shows the mean analysis, the value of price factor is 3.26, the value of quality is 3.14, the value of effectiveness is 3.05, the value of natural is 2.97, and the value of brand image is 3.20 Chi-Square Test. H0: There Is No Significant relationship between age and reason for purchasing patanjali products H1: There is a significant relationship between age and reason for purchasing patanjali products Table 3 Chi-Square Test of Quality Factor Value Df Asymp. Sig. (2-sided) Pearson Chi-Square

24.408a 12 .018

Likelihood Ratio

20.107 12 .065

Linear-by-Linear Association 5.004 N of Valid Cases

1 .025

100

Interpretation As in above table 3, the significant value is 0.018, which is less than 0.05.so alternative hypothesis is accepted. So there is significant relationship between age and the quality factor. Anova: Age and reason for purchasing patanjali products H0: There is no significant relationship between age and reason for purchasing patanjali products H1: There is a significant relationship between age and reason for purchasing patanjali products Table 4 ANOVA Mean Sum of Squares df F Sig. Square Good Quality

Between Groups

14.567

3

4.856

Within Groups

123.143

96

1.283

Total

137.710

99

Between Groups

1.991

3

.664

152.049

96

1.584

Health Benefits Within Groups

Availability

Brand image

Informative

Total

154.040

99

Between Groups

4.741

3

1.580

Within Groups

130.009

96

1.354

Total

134.750

99

Between Groups

8.701

3

2.900

Within Groups

144.739

96

1.508

Total

153.440

99

Between Groups

8.734

3

2.911

Within Groups

147.376

96

1.535

Total

156.110

99

269

3.785 .013

.419 .740

1.167 .326

1.924 .131

1.897 .135

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation The above table 4 shows the age and reasons with purchasing patanjali products.  The significant value of quality is 0.013 which is less than 0.05 so alternative hypothesis is accepted.  The significant value of health benefits is 0.740 which is higher than 0.05 so null hypothesis is accepted.  The significant value of availability is 0.326 which is higher than 0.05 so null hypothesis is accepted.  The significant value of brand image is 0.131 which is higher than 0.05 so null hypothesis is accepted.  The significant value of informative is 0.135 which is higher than 0.05 so null hypothesis is accepted. II. FINDINGS The data collected through 100 questionnaires is analyzed.  Out of 100 users, dominant portion i.e. 67% of respondents are 18-23 age.  The combined mean value of factors satisfied by patanjali products is 3.12. Its neutral.  45 % of respondents are satisfied in all factors of patanjali products, followed by 40% are dissatisfied and 15% are neither satisfied or dissatisfied  Half of the respondents are agree with reasons for purchasing a product, followed by 35% are disagree with reasons for purchasing with a product and 15% are neither agree or disagree with reasons.  From the analysis we can interrupt that people of Chennai are satisfied with patanjali products.  The significant value of quality factor is 0.015 which is less than 0.05. Alternative hypothesis is accepted.  In ANOVA test, the significant value of good quality is 0.018. so alternative hypothesis is accepted III. SUGGESTIONS  To make a successful product, Patanjali’s marketing strategy should attract long term consumers.  Most of the Patanjali consumer are facing problem like; products are not available in the market regularly.  They can increase their distribution channels.  They have to focus back on product efficacy.  Rising above the noise of advertising.  They can increase their outlet and stores.  So Patanjali Ayurveda should increase their productivity and make sure that there will be shortage of products in the market IV. CONCLUSION Patanjali has given a headache to many marketers with its unconventional ways of marketing. The Findings in the paper show that there are many significant factors that together make up the buying decision of the product. Customers’ perception towards Patanjali is built largely on the satisfactory value the user receives after paying for the product and the benefits the user looks for. In the above study, a large portion of the user is satisfied from Patanjali products. It may be because of reasonable price of the product. It may be due to ability of the product to cure the problem. V. REFERENCES 1. https://www.patanjaliayurved.net/ 2. https://en.wikipedia.org/wiki/Patanjali_Ayurved 3. https://www.slideshare.net/trishalagautam/patanjali-research 4. http://www.news.kenresearch.com/post/147442303438/company-profile-of-patanjali-ayurved-limitednew 5. https://www.researchgate.net/publication/305995560/ 6. http://www.patanjaliresearchfoundation.com/cgi-sys/suspendedpage.cgi

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CUSTOMER PERCEPTION TOWARDS ONLINE PHARMACY SHOPPING S. JAISRIRAMSHENOY Final Year, Dept of A&F, Ramakrishna Mission Vivekananda College (Evening) (Autonomous), Mylapore, Chennai – 04,

ABSTRACT With the development of modern technology, people’s way of life is changing day by day. These changes have also affected the way of shopping. Online shopping is taking place instead of traditional store shopping. In present study, it has been tried to find out the people’s perception towards online shopping and to know whether consumers prefer online shopping or store shopping and why. This survey was conducted by a designing a structured Questionnaire consisting of 19 Questions. The data used for analysis in this research is primary data. The data was collected from 100 respondents. Convenient sampling technique is adopted. The results of the study supported that the customers perceive online shopping with positive frame of mind and show that the emergence of various factors pertaining to online shopping. KEYWORDS: Customer perception, online pharmacy, online shopping, retail pharmacy . I. INTRODUCTION Consumer perception applies the concept of sensory perception to marketing and advertising. Just as sensory perception relates to how humans perceive and process sensory stimuli through their five senses, consumer perception pertains to how individuals form opinions about companies and the merchandise they offer through the purchases they make. Merchants apply consumer perception theory to determine how their customers perceive them. They also use consumer perception theory to develop marketing and advertising strategies intended to retain current customers and attract new ones. Online shopping has become increasingly popular, due to convenience (and often lower prices). Especially in the holiday season, online shopping saves an individual the hassle of searching several stores and then waiting in long queues to buy a particular item. Online shopping (sometimes known as "electronic retail" or e-shopping) is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser. Alternative names are: e-web-store, e-shop, e-store, Internet shop, web-shop, webstore, online store, online storefront and virtual store. Mobile commerce (or m-commerce) describes as purchasing from an online retailer's mobile optimized online site or app. online shopping is that shopping which directly buys the goods and services through the internet. Internet is changing the way consumers shop and buy goods and services, and has rapidly evolved into a global phenomenon. Many experts are optimistic about the prospect of online business. In addition to the tremendous potential of the E-commerce market, the Internet provides a unique opportunity for companies to more efficiently reach existing and potential customers. There are so many issues in online shopping pertaining to convenience, privacy, security, satisfaction, quality etc. An online shop evokes the physical analogy of buying products or services at a bricks-and-mortar retailer or shopping center; the process is called business-to-consumer (B2C) online shopping. In the case where a business buys from another business, the process is called business-to-business (B2B) online shopping.ne shopping. Online shopping is beneficial because of convenience, more choice, quick, 24 hours availability etc. But there are also some limitations online shopping such as fake website, information leakage risk, risk of not getting product, purchasing without physical examining of product etc. These affect the perception of consumer towards online shopping. People purchases goods of their need from different places. It may be a fun for wealthy people while for most of the buyers it is a media to fulfill their needs or requirements for their life. Everywhere in the world paying and taking goods is the most common feature for all classes. Online Pharmacies Internet or online pharmacies sell pharmaceuticals, including prescription and non-prescription medications. The online sale of drugs started in the late 1990s and has extended so considerably that the US Food and Drug Administration (FDA) has executed an entire section on its website dedicated to “Be Safe Rx: Know Your Online Pharmacy” . The online pharmacy industry can be categorized into three major types. The first and most legitimate type is the traditional online pharmacy. The pharmacy only dispenses medicine to a consumer who has first obtained a prescription from a doctor and then submits it to the online pharmacy. The second type of online pharmacy is generally known as online consultation pharmacies, remote consulting pharmacies, or prescribing pharmacies where physicians review a patient‟s self-reported medical history and then write a prescription. This

271

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 type of online pharmacy is more appealing to consumers because it offers both physician services and pharmacist services to consumers. Finally, a third type of online pharmacy is classified as a “rogue” pharmacy or online drug shops which allows consumers to purchase prescription drugs without a physician‟s consultation and a valid prescription. Such pharmacy is considered illegal by most law enforcement agencies. The World Health Organization faces this issue in the context of counterfeit medicines, which are defined as „a global public health crisis‟, stating that „medicines purchased over the Internet. Review of Earlier Studies  Guo Jun &et.al. (2017)“A study on consumer‟ attitude towards online shopping”; Online shopping is an innovative platform to do business in this competitive world and it is a classic example of the business revolution. This study focused on online shopping in china and the study states that consumer perceived positively with relate to factors such as usability, safety, privacy, after sales service and quality of products. It also states that most of the young population preferred to use online shopping to make purchase of their necessities.  Madhu & Sampath (2017) “A study on buying behavior customer satisfaction towards online shopping”; Online shopping is now become a primary part of any business. This study also stressed that the e-commerce portals have to educate and promote the consumers towards online shopping by determine the factors influencing the consumers towards online shopping. This study concludes that the era of information providing new dimension to the marketer and consumer as well by virtual shops in India.  Vikash & Vinod Kumar (2017) “A study on consumer perception towards online shopping”;This study was an attempt to know people perception towards online shopping. As results of the survey concluded that the customers perceive online shopping with positive frame of mind. The first factor emerging of the statement is quality. In online shopping, customers are not able to touch and see the products before purchasing. Therefore quality of the product purchase through online shopping is major concern and marketers must ensure that the quality of the products deliver to the customers is matches with the customer expectation and must be deliver what they promise.  Pritam Kothari &et.al. (2016) “A study of consumers‟ attitude towards online shopping”; This study states that the rising number of internet user in India provides a bright prospect for E-commerce. This paper highlights on factors which influences consumer to shop online. Indian consumers using E-commerce portal not only to purchase the product but also to avail online services. This study finds that majority of customers perceived that online shopping is the best way to buy goods and services and they were willing to continue this platform of purchasing.  Mittal Arjun (2013) “The impact of consumer behavior on e-commerce”; The main purpose of the study was identity the factors that affect the consumer‟s online shopping behavior. The data was collected from those people who use internet. The results of the study showed that consumer‟s trust, privacy and security concerns were the main factors for using internet for shopping. Online trust was the main factor for creating relationship with customers. The study suggested that the factors which influenced or prevented online consumer‟s behavior should need to be carefully concerned by online retailers.  Anuradha Reddy (2012) A study on Customer perceptions on security, privacy and trust on e-commerce. The objective of the study was to identify the various factors that influence consumer‟s privacy on e-commerce portals. The results of the study indicated that participants were too much concerned about the security and privacy issues while they were using e-portals. The study suggested that privacy concerns could be reduced by following fair procedures of information collection, to educate the consumers about the protection of personal information. Scope of the Study This study is related to the online pharmacy. It will compare the consumer perception between online pharmacy and retailer pharmacy. This research studies the customers‟ expectation and perception. II.OBJECTIVE OF THE STUDY  To study the customer awareness of online pharmacy.  To study the factors influencing online shoppers and consumers in Chennai.  To extract the factor affecting consumer perception towards online shopping. Research Methodology A structured questionnaire consisting 19 Questions will be distributed through Google Docs and information will be collected directly from 102 respondents. So the primary data and secondary data will be used and the entire data collected will be used for research purpose. Chi-Square, ANOVA Test were used in this study.

272

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Data was collected from 100 respondents by designing a structured Questionnaire and was then treated with scientific statistical methods to get the results. SPSS Version 16.0 software is used to do the analysis. Table 1 Chi-Square Test for Income Level * what is the main factor that made you purchase medicine online Value Df Asymp. Sig. (2-sided) Pearson Chi-Square 15.115a 20 .770 Source: Primary data H0- There is no significant relationship between income and main factor that made online purchase. H1- There is significant relationship between income and main factor that made online purchase Interpretation From the above table 1 it can be inferred that the result of Pearson Chi-square is 0.770 (> 0.050). Hence there is a strong evidence to accept Null hypothesis (H0) and conclude that the two attributes, Income level and the main factor that made you purchase online are independent. We conclude that Income level is not an influencing factor while choosing to purchase medicine online. Therefore, H 0 Null Hypothesis is accepted. Table 2 ANOVA Test for Age factor and awareness about online pharmacy Sum of Squares Df Mean Square Between Groups

5.059

4

1.265

F

Sig.

1.255 .293

97.764 97 1.008 Within Groups Source: primary data H0 - There is no significant relationship between Age factor and Awareness about online pharmacy. H1 - There is a significant relationship between Age factor and Awareness about online pharmacy. Interpretation It is clear from the above table 2 as significance level of ANOVA is 0.293 (>0.05). Hence there is no relationship between Age factor and Awareness about online pharmacy. So, Null hypothesis (H 0) accepted. Therefore, we conclude that there is a difference in the age groups and awareness of the online pharmacy. Table 3 Correlation between riskiness of online purchase of medicine and genuineness of the same purchasing medicine online is medical products sold risker than purchasing in retail online may not be stores genuine Pearson Purchasing medicine online is Correlation risker than purchasing in retail Sig. (2-tailed) stores N Medical products sold online may not be genuine

1

.495** .000

102

102

Pearson Correlation

.495**

1

Sig. (2-tailed)

.000

N 102 102 Source: Primary data Ho There is no significant relationship between riskness of online purchase of medicine and genuineness of the same. H1There is significant relationship between riskiness of online purchase of medicine and genuineness of the same. Interpretation From the table it can be observed that the significant level is below 0.01 so, there is significant relationship between riskiness of online purchase of medicine and genuineness of the same. Hence it is highly positively correlated. Limitation of the Study  The sample may not be representative of a comprehensive analysis of information.  The information obtained or the collection of data is limited.  The study is purely academic.

273

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3  This Research is limited to 102 respondents only, so the results may vary if the numbers of respondents are more.  This study did not explore the perspective of service providers. This is a limitation in as much as it only considers the customers‟ view, which might be different from the providers view. III. FINDINGS  Most of the respondents (51%) access online pharmacy services are male.  Most of the respondents (37%) of online pharmacy services are in the age group of 21-30.  Most of the respondents (55%) prefer pharmacy to buy the medicines.  38% of the respondents come to know about the online pharmacy by Internet  34% of the respondents have felt that advertisement will increase its popularity.  22% of the respondents chosen online pharmacy for availability of medicines and 43% of the respondents chosen for convenience.  41% of the respondents agree that delivery of the medicines was as promised.  34% of the respondents felt that there is an adequate awareness about online pharmacy.  15% of the respondents disagree that online is not risker than purchasing in retail stores.  19% of the respondents feels that medicines sold online may not be genuine  16% of the respondents agree that required medicines may not be available always at retail stores.  27% of the respondents have felt that prices of medicines are high when purchased from a pharmacy.  25% of the respondents agree that instruction to usage of medicines is specified during placing an order.  32% of the respondents say that expiry date of the medicines is mentioned at the time of order.  21% of the respondents feel that side effects of the medicines are not mentioned at the time of order. IV. CONCLUSION Online pharmacy is becoming more popular day-by-day with then in the usage of WORLD WIDE WEB known as www. Understanding the customers‟ today‟s‟ needs and providing all the facilities and making improvement in the factors that influence the customers to shop online and working on factors that affect the consumers to shop online will help marketers to gain the competitive edge over others. In the business to customer segment, sales through internet have been increasing dramatically over the last few years. Online pharmacy has come up as a boon for all type of consumers and it has something to offer for everyone. Despite to this fact that it is highly convenient and time saving and to certain extent it is also cost cutting exercises as one need not to step out of his\her home for doing purchases. The main objective is to find out that where do people prefer buying medical products and from the analysis we are able to find out that 55% of the respondents prefer to get medicines from retail pharmacy. Peoples from different age groups are doing online pharmacy shopping. Most of the people purchase from online for convenience and demographic factor. It need to give advertisement to make it popular, discounts and availability of medicines are attracting peoples to buy in online pharmacy. The customers are very comfortable because of many variables like cash on delivery, easy to use, home delivery, etc. V. REFERENCES 1. “Growth of online shopping”, Accesses http://www.brighthub.com/money/personal-finance/articles/40015. 2. Dr. A Muthumani and V.Lavanya and R.MahalakshmiProblems Faced by Customer on Online Shopping International conference on recent trends in engineering science, humanities and management 3. Madhu Mala Malar. R & Dr. M. Sampath Nagi A Study on Buying Behaviour Customer Satisfaction towards Online ShoppingJournal of Interdisciplinary Research. 4. Guo Jun and Noor IsmawatiJaafarAStudy on Consumers‟ Attitude towards OnlineShoppingJournal of Business and Social Science. 5. 6. 7. 8. 9.

10.

Pritam P. Kothari and Shivganga S. MaindargA Study on Customers Attitude towards Online Shopping. Rajarajan and Vetriveeran customer satisfaction toward online marketing International Journal of World Research, www.researchgate.com www.emeraldinsight.com www.shodhganga.com http://en.m.wikipedia.org/onlinepharmacyconsumers

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IMPACTS OF CUSTOMER RELATIONSHIP MANAGEMENT IN RETAIL SECTOR WITH SPECIAL REFERENCE TO NILGIRIS M.MANIKA VIGNESH Final Year, Department of Accounting and Finance Ramakrishna Mission Vivekananda College Evening (Autonomous) Mylapore, Chennai 04 ABSTRACT The Impact that Customer Relationship Management (CRM) has on the retail business industry and how it relates business industry and how it relates to the key stakeholder in the relationship; the customer. This aspect covered by the paper is assessing the challenges faced by the industry, and how developments are being undertaken to overcome these. The ability of customers to influence the policies and strategies of corporation make them the key link for successful management of a business. It is important that an ideal solution be devised to counter any unexpected challenges in trends and the environment. The implementation of CRM has gained ground in recent years, with stronger competition driving the need to attract customers more vigorously. Hence this study is conducted and in order to find out the results chi-square and ANOVA are used. This study tries to make a thorough review of various literatures on the subject, before concluding with suggestions. KEY WORDS: CRM, Strategies, Retail sector, Impact I. INTRODUCTION Business around the globe is facing ever-growing challenges. Best alternatives are choose by the Customer due to the growing competition among the companies and each company is finding some new way to attract them to their destination. The traditional borderline and reach different kind of customer faction is seeking beyond retailers. At the same time the firms understand the value and importance by gaining returns from customers as an asset, which is the basic principle of CRM. It will be the focal point in the periods to come. It is highly increasingly today’s competitive environment it is very tough to make customer, as customers are not just making their buying decisions on the product categories but also on product comparisons. Gone are the day’s when they were easily available. Due to the arrival of various companies, Indian and foreign operators it is very easy for the customer to have the comparative market research and analysis, what to buy, where to buy and, how to buy. Retail industry is at crossroads, and building customer relationship (CR) has become an essential tool in retailing. Retailer sector is very much focused in understanding the customer satisfaction, designing a customer-driven marketing strategy and constructing marketing programs, which lead up to building profitable Customer-relationships. The simple answer to it is effective CRM. II. OBJECTIVES OF THE STUDY 1. The following are some of the important objectives of my study. 2. To find out the reasons why the customers are visiting Nilgiris 3. To know the various Medias which influences the customers to visit Nilgiris 4. To know the difference CRM practices used in Nilgiris. 5. To find out the various benefits and challenges faced by the customers through CRM in Nilgiris. 6. To find out the satisfaction level of customers with the service of Nilgiris 7. To find out the various ways through which the customers are retained by Nilgiris Statement of the Problem In India retailing has been growing a huge in the past decade. More importantly, it has witnessed rapid change in terms of the retail mix, the quality and scale of retailing, the varieties of retail formats and also change in consumer preference and shopping habits. The retail sector has attracted many Indian corporate houses such as the Reliance, AV Birla Group and others to make substantial commitments and investment plans in this sector. Already there are lot of retail houses in the form of convenience stores, Supermarkets, Departmental stores, Variety stores and others which are not away from the limitations of conventional stores. Thus, the customers have two options namely buying at corporate stores or conventional stores. The establishment of corporate store will enjoy the financial and structural strength as they are manned by corporate sector. Whereas the conventional stores may not have this advantage and this may reflect on functions of the stores. This being the case, an attempt on examining the customer response towards these stores will be more useful and relevant in the present day context.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Research Methodology The research used to collect information and data for purpose of making business decision making. The methodology may include survey conducted and both historical and present information. Source of Data The data can be collected from primary sources from the respondents and secondary sources Primary Data Primary data means original data that has collected specially for the purpose in mind. Data collected this way is called primary data. Primary data for the project was collected through questionnaire.’ Secondary Data Secondary Data is Data that is being reused usually in a different context. Tools Used The tools used are chi-square, correlation and frequency analysis. Sample Size The sample size of the 100 respondents was considered appropriate keeping to view the objective and limitation Sampling Area The study is conducted among the customers of Nilgiris in Chennai. Hypothesis of the Study 1. H0: There is no significant relationship between Gender and reason for visiting. H1: There is a significant relationship between Gender and reason for visiting 2. H0: There is no significant association between Age and Medias influences H1: There is a significant association between Age and Medias influences Limitations of the Study The following are the limitation of the study 1. Time is considered to be a major limitation of the study 2. Survey is conducted in only one branch of Nilgiris. 3. Sample size is restricted to 100customers 4. Since the sample size is small the results got may being accurate 5. Customers are not willing to give proper information Review of Literature 1. Relationship quality evaluation in retailers' relationships with consumers, by Patrick Vesel, Vesna Zabkar, (2010) The purpose of the article is to investigate relationship quality in retail relationships as influenced by its antecedents (loyalty programme and personal interaction quality) and resulting in customer loyalty to the retailer. The main objective is on loyalty programme members' perceptions and differences between segments of consumers with different levels of involvement in the product category. The method used was a consumer survey. Data was collected through telephone interviewing with 116 and 410 members of a retail loyalty club were conducted. The integrated relationship is the conceptual framework among constructs of loyalty programme quality, personal interaction quality, relationship quality and loyalty, relevant to the development of retail relationships. 2. Sinkovics and Ghauri (2009) They relate the necessity for engaging in the customer relationship management to high cost of direct sales, highly intensifying level of competition in the international level, and need for information about various aspects of the business, and consumer behaviour in particular, that can be used to increase the levels of sales. 3. Khurana (2010), On the other hand, discusses the concept of customer relationship management in a great detail, and also addresses advantages and disadvantages associated with a range of relevant software applications. The third edition of Pradan’s (2009) “Retailing Management” is another noteworthy source that is going to be used in the study. Specifically, Pradan (2009) identifies customer relationship management as an emerging aspect of marketing in retail and discusses its importance for ensuring long-term growth for retail businesses. 4. According to Peppers and Rogers (2011) There is global tendency in customer relationship management that relates to the shift from transactional model towards the relationship model. In other words, Peppers and Rogers (2011) argue that satisfying customer needs as a result of on-time transaction is not sufficient today in order to ensure the long-term growth of the businesses.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Analysis and Interpretation 1. H0- There Is No Significant Relationship between Gender For Visiting Table 1 Chi-Square between Gender of the Respondent and Freedom of Choice Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 2.651a 4

.618

Interpretation From the above table1 it is clear that the significant value is 0.618 which is greater than 0.05. So null hypothesis is accepted and so there is a no relationship between gender of the respondent and reason for visiting with regarding to freedom of choice. 2. H0- There Is No Significant Association Between Age And Medias Influence Table 2 Chi-Square between Age and Medias Influence Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 2.651a 4

.618

Interpretation From the above table 2 it is clear that the significant value is 0.618 which is greater than 0.05. So null hypothesis is rejected and so there is a no relationship between age of the respondent and media influence 3. H0- There Is No Significant Difference between Gender and Benefits Faced Table 3 ANOVA between Gender and Benefits Faced ANOVA Mean Sum of Squares df F Sig. Square Improved product knowledge Increases customer revenue

More valuable information

Saves time

Easy decision making More satisfaction

Between Groups

3.715

1

3.715

5.45

0.022

Within Groups Total Between Groups

53.173 56.887 0

78 79 1

0.682

Within Groups

71.246

75

0.95

0

0.984

Total

71.247

76

Between Groups

1.243

1

1.243

1.43

0.235

Within Groups Total Between Groups Within Groups

66.909 68.152 0.258 69.084

77 78 1 77

0.869 0.258 0.897

0.29

0.593

Total Between Groups Within Groups Total

69.342 0.029 54.125 54.154

78 1 76 77

0.029 0.712

0.04

0.841

Between Groups

0.976

1

0.976

0.99

0.322

0

Interpretation From the above table 3 the significance values of the factors such as Increases customer revenue, more valuable information, saves time, easy decision making, more satisfaction is greater than 0.05. And hence it is inferred that there is no difference between gender and benefits faced.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 III. FINDINGS From the research conducted among the customers the following are the findings  From the survey it clear that there is a no relationship between gender of the respondent and reason for visiting with regarding to freedom of choice.  From the study is clear that there is a no relationship between age of the respondent and media influence.  From the study is inferred that there is no difference between gender and benefits faced. IV. SUGGESTIONS  Nilgiris management should concentrate on electronic goods and cloths forimproving the sales of those products.  Nilgiris management has to give more offers to their products forgenerating sales.  Nilgiris sales persons should improve their skills to give good service to the Customers. V. CONCLUSION Nilgiris is a major shopping complex for today’s customers. The retailer is a place where customers find variety of products at a reasonable price. Nilgiris has a good reputation of itself in the market. It has positioned to itself in the market as a discounted store. The majority of respondents belong to middle class family. But still the management should focus more of their consign order to improve customer relationship with the customers. There is a lack of advertising media in Nilgiris with the customers which can also be taken into consideration for their growth and development. VI. REFERENCES 1. Patrick Vesel, Vesna Zabkar, (2010) "Relationship quality evaluation in retailers' relationships with consumers", European Journal of Marketing, Vol. 44 Issue: 9/10, pp.13341365, https://doi.org/10.1108/03090561011062871 2. Sinkovics, R.R & Ghauri, P.N. (2009) “New Challenges to International Marketing” Emerald Group Publishing 3. Khurana, M. (2010) “Information Technology for Retailing” Tata McGraw-Hill Education 4. Peppers, D. & Rogers, M. (2011) “Managing Customer Relationships: A Strategic Framework” John Miley & Sons Websites 1. https://research-methodology.net/a-brief-literature-review-customer-relationship-management/ 2. https://www.scribd.com/document/133782267/Literature-Review 3. https://www.emeraldinsight.com/doi/abs/10.1108/03090561011062871

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CUSTOMER’S PERCEPTION TOWARDS SHOPPING MALLS A STUDY WITH SPECIAL REFERENCE TO SHOPPING MALLS IN CHENNAI CITY M. BALAJI Final year, Dept. of AF, RKM Vivekananda (Evening) College (Autonomous), Mylapore, Chennai – 04 ABSTRACT Nowadays shopping malls play a predominant role in the life style of people living in metro cities which has massively change the patterns of shopping activities and malls are found almost everywhere. Peoples may believe that the malls are the best place to shop or hang out. It is not only a place to shop but also a place for social and recreational activities. Shopping malls offered many advantages over the traditional markets, as Pleasant ambience, protection from extreme weather conditions, convenience in terms of escalators and lifts, comfort of shopping, eating and watching movies at the same place, wide choice of shops, range of food options through food courts and few more comes under one roof “ All in one roof “. The main aim of this research paper is to investigate the Customer’s perception towards shopping malls in Chennai city, what are the main factors under which customers prefer shopping malls over retail markets. The study found the intentional relationship between Ambience &Atmosphere, Exclusive products, Parking fare, Convenience and Product pricing as a factors and the customer’s satisfaction towards shopping malls with an average mean of (1.77) KEYWORDS: Customer’s preference, Customer’s perception, Shopping malls, Chennai city, Satisfaction I. INTRODUCTION (a) Shopping Malls Shopping malls play a predominant role in the life style of people living in metro cities which has massively change the patterns of shopping activities and malls are found almost everywhere. Today the word „Mall‟ has become a part of people living in metro and big cities. People believe that the malls are the best place to shop or hang out. The spending capacity and willingness of customers has increased in India. Keeping this in mind, marketers have come up with organized retail outlets to attract and cater to the customers‟ needs. A welldesigned finely maintained store not only attracts more footfalls but also increase the sales. Shopping malls are an emerging trend in the global arena. The concept of departmental stores came up in the 19th century with the Industrial Revolution. Consumers wanted a better shopping experience and this demand gave rise to the emergence of shopping malls in India. Shopping in India has witnessed a revolution with the change in consumer behavior and the whole format of shopping is also altering. The phenomenon called shopping centre or shopping mall is rocking Indian metros and now even the smaller towns are buzzing with the mall mania. Modern retail format i.e. shopping malls are characterized by professionally managed large format stores, providing goods and services that appeal to consumers, in an ambience that is conducive for shopping. The recent surge in the growth of shopping malls is changing the way of peoples‟ shop. (b) Customer’s perception Customer is someone who makes use or receives of the product or service of an individual or organization. The word “customer” historically derived from “custom” meaning “habit “a customer was someone who frequented a particular shop, who made it habit to visit that particular shop for purchase rather than going elsewhere and with whom the shopkeeper had to maintain a relationship to keep his “custom “it means expected purchases in the future. The word perception comes from the Latin meaning receiving collection &action of taking a possession. Review of Earlier Studies 1. Anselmsson (2006) “Sources of Customer Satisfaction with Shopping Malls: A Comparative Study of Different Customer Segments” found that ambience (atmosphere) of the mall, convenience which includes opening hours, parking, ease–of–movement and ability to find one‟s location in the mall are the most important determinant of shopping mall selection. 2. Radhika (2013) “A Study on Customers‟ Perception and Shopping Behavior in Mega Retail Malls among the Urban Customer with Special Reference to Bangalore City”- Stated that, in Indian cities, malls have transformed from basic shopping to entertainment and social activity. Consumers visit shopping mall fortnightly. Further she stated that consumer visit four to six stores while purchasing from Malls. 3. Shahla Jahan Chandel (2014) “Consumer Shopping Experience in Shopping Malls of Selected Indian Cities”- In his thesis mentioned that consumers are interested in variety of products provided in shopping malls.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 4. Elangovan and Sangeetha (2017) “A study on customer‟s perception and preferences towards shopping malls in Coimbatore City”- Stated that, The shopping malls become the foremost avenue for shoppers. The chief affecting factors towards shopping mall have been identified as Quality and variety of product, Reasonable prices, Availability of parking facility, Entertainments, Discount offers, Mall ambience and Availability of International brands. These influence the consumers to visit Mall. Objectives and Scope of The Study (a) Objectives of the study  To measure the customers preferences towards the various aspects of shopping malls.  To identify the visitor‟s intention to visit shopping malls. (b) Scope of the study This study is based on a sample of famous shopping malls in Chennai city namely Express avenue, Phoenix market city, Vijaya forum mall, Ampa skywalk, Citi centre, Spencer plaza and VR mall, which took over a greater responsibility of shopping over retail markets and provides a complete aspects behind the changeover of shopping scenario from retail markets to Shopping malls. This Research will show the factors which attracted the customers to prefer shopping malls over retail market. Research Methodology The research was Descriptive research. The primary or the first hand data was collected with the help of handing out the questionnaire to the customers. Convenience sampling is used to obtain data or information by administration of questionnaire through Google form (Sample of 100 was collected through questionnaire). The Interpretation of data was based on the Classification of the respondents like age, gender, educational qualification and marital status. Frequency analysis, mean analysis, Regression are the statistical tools used for analyzing the data. Table 1 Frequency Analysis Gender Frequency Percentage ( % ) Male 52 52 Female 48 48 Total 100 100 Age Group Frequency Percentage ( % ) Below 20 yrs 52 52 21-40 yrs 35 35 41-60 yrs 11 11 Above 60 yrs 2 2 Total 100 100 Marital Status Frequency Percentage ( % ) Married 24 24 Unmarried 76 76 Total 100 100 Educational Qualification Frequency Percentage ( % ) School level 5 5 Under graduate 73 73 Post graduate 16 16 Professionals 6 6 Total 100 100 Source: Primary data Interpretation The Table # 1 shows the Frequency analysis of Gender, Age group, Marital status and Educational qualification of the respondents. From the above table it is inferred that 52 % of respondents are male and 48 % of respondents are female. 52 % of respondents belongs to below 20 years age category, 35% of respondents belongs to 21-40 years age category, 11% of respondents belongs to 41-60 years age category and 2% of respondents belongs to above 60 years age category. 24 % of respondents are married and 76 % of respondents are unmarried. 5 respondents have completed their school level education, 73 respondents have completed their under graduation, 16 respondents have completed their post graduation and 6 respondents are professionals in their educational field. Table 2 Mean analysis of Various Factors for preferring Shopping Malls Preferences SA A NANDA D SD Total Mean Ambience & Atmosphere 77 13 6 4 100 1.37 Exclusive products 68 18 9 2 3 100 1.53 Parking fare is nominal 51 18 18 - 13 100 1.93

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Convenience 52 17 14 - 17 100 1.96 Product pricing is nominal 38 31 21 4 6 100 2.07 Source – Primary data (SA – Strongly agree; A – Agree; NANDA – Neither agree nor disagree; D – Disagree; SD – Strongly disagree) Interpretation The table # 2 shows the Mean analysis of Various Factors for preferring Shopping Malls by the respondents. From the above table we can identify that majority of the respondents strongly agree that the ambience and atmosphere are the factor for preferring a shopping mall, most of the respondents agree that the shopping mall contains exclusive products in the shopping mall, majority of the respondents agree that the parking fare is nominal in the shopping mall, majority of the respondents agree that convenience is a factor for preferring a shopping mall and majority of the respondents agree that the product pricing is nominal in the shopping mall. Hence, from the above table and interpretation it is concluded that Ambience & Atmosphere, Shopping mall contains exclusive products, Parking fare is nominal, Convenience and Product pricing is nominal are the main factors which influences customers to prefer shopping malls over retail markets. Table 3 Regression Model Sum of Squares Df Mean Square F Sig. Regression

2.993

4

.748

Residual

52.247

95

.550

Total 55.240 Source – Primary data

99

1

1.360 .025

Interpretation The table # 3 clearly states that the significance level is less than (0.05). This means that the Ambience &Atmosphere, Exclusive products, Parking fare, Convenience and Product pricing significantly influences the customer‟s satisfaction towards shopping malls. II. FINDINGS According to the research analysis, it is found that majority (52%) of the respondents are male. It is found that majority (52 %) of the respondents age is less than 20 yrs. It indicates more than half of the respondents are young people. From the marital status of the respondents it is observed that Out of 100 respondents 24 were married and 76 are single. It is observed that most of respondents (73%) belong to Under Graduate qualification.  It is concluded that the various factors influences the satisfactory level of the customers towards shopping malls. All most all the respondents agreed with the factors which influence the satisfactory level of the customers towards shopping malls, with an average feedback of (agree).  The Ambience & Atmosphere, Exclusive products, Parking fare, Convenience and Product pricing are the factors which influences the customer‟s satisfaction towards shopping malls. III. SUGGESTIONS  The Shopping malls only concentrate on branded products. They can also give equal priority to get all local food and grocery products. Hence, malls are advised to have more number of local formats.  Nowadays most of the people go for window shopping so shopping malls must concentrate to attract those window shoppers by having wifi inside the shopping mall.  In order to attract more consumers and develop positive attitude, the Malls should offer the better food facility and the socialized atmosphere. Consumers go to Malls not only for shopping, but also to hang out with friends and family. The Malls should concentrate on providing the expected atmosphere. IV. CONCLUSION The study has been a rewarding, in the sense that it has assessed the customer‟s perception and preference towards shopping mall. Nowadays, shopping is an integral part of life for every individual. The result of the present study is very relevant to the present day developments happening in the mall retailing sector. A Shopping mall succeeds because enclosed within a large structure using a slogan “all under one roof”. The findings and suggestions have been written after analyzing the customer‟s perception and preference towards shopping mall. Customers play a major role in development of retail marketing and shopping malls. The malls must concentrate and improve based on the customer‟s perception in either shopping or window shopping.

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V. REFERENCES 1. Anselmsson, J. (2006) “Sources of Customer Satisfaction with Shopping Malls: A Comparative Study of Different Customer Segments”, Research, Vol 16- Issue (1) Lund university: 115–138. 2. Radhika (2013) “A Study on Customers’ Perception and Shopping Behaviour in Mega Retail Malls among the Urban Customer with Special Reference to Banglore City”. Ph.D. Thesis. Periyar University. 3. Shahla Jahan Chandel (2014) “Consumer shopping experience in shopping malls of selected Indian cities” Business Administration , Aligarh Muslim University. 4. Elangovan D & R Sangeetha, (2017) “A study on customer’s perception and preferences towards shopping malls in Coimbatore City”. International Journal of Commerce and Management Research 3(2): 79-81 5. Sandeep kumar (2017) “consumer attitude towards shopping malls in Coimbatore” department of business administration, Annamalai University. 6. Sathyavathy v (2018) “Statistical Analysis of Consumer Decision Making Styles A study with reference to Consumer Decisions of Shopping Malls in Chennai city” department of commerce, madras university.

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EDUCATIONAL LOANS A STUDY WITH SPECIAL REFERENCE TO SBI, AXIS & HDFC BANKS IN CHENNAI CITY M. SHRI RAAM Final year, Dept. of AF, RKM Vivekananda College Evening College (Autonomous), Mylapore, Chennai – 04 ABSTRACT Educational loan existed in India before the economic liberalization period. Higher education system in India is the third largest system in the world, next to USA and China. The growth of the number of institutions of higher education was slow until Independence but after the Independence, higher education became one of the crucial agendas of the newly formed government. The educational loan is made to a student to fulfill the borrower’s educational commitments. It is a protracted term loan and also the payments square measure delayed until the time the education is completed and for an amount of 6-months at the moment or once the borrower finds a job, whichever is earlier. The aim of the study is to find which factor made them to select the bank and to know which factors improves the market strategy of the bank. This survey was conducted by designing a structured questionnaire consisting of 22 questions. Last three years reports clearly states about the situation of NPA in India. KEYWORDS: Educational loan, SBI, Axis bank, HDFC bank, NPA. I. INTRODUCTION Quality education is a must for all to lead a successful life. For many, it is their aim to graduate from a top institution. The cost of education is, however, increasing rapidly. In fact, the cost of studying at reputed institutions is quite high. But despite all this, some people may still encounter with shortage of funds. An education loan, therefore, plays a vital role in such a scenario by helping to bridge the gap between the shortfall and the amount required. It covers the basic course fee and other related expenses such as accommodation, exam and other charges. Students prefer education loan for pursing higher education. Also, education loan is free from tax. N this article, you will read about the meaning of education loan, apply for education loan, requirements for education loan, limit of education loan and many more information about loan. The NPA has been increased about 9% in the sector of the educational loan in March2018 according to the report. Objectives  To know which factor made them to select the bank.  To know which factor improves the market strategy of the bank. Methodology of the study The study is descriptive in nature. Both primary data and secondary data are used in this research. The study is limited to Chennai city of Tamil Nadu state where a number of students after their completion of secondary education seek higher professional education by the help of educational loan. Data collection A structured questionnaire consisting of 22 questions will be distributed through Google docs and information will be collected directly from 100 respondents. Tools used Frequency analysis,Correlation and Anova test are the tools used for this research. Limitations of the study  Time limitations and expenditure limitations are high.  The study involves very extensive use of primary data.  There is statistical bias due to non-availability of systematic records. Review of earlier studies Adrian ziderman (2008) “Student loans repayment and recovery (international comparisons)” he stated that how much of the original loan an individual student is required to repay (repayment ratio) and the percentage of the total costs of loan expect to receive back in repayments (recovery ratio). The researcher used secondary data and concluded that the government would need to inject the funds annually to cover the costs of the built-in loans repayment subsidies and to make up losses from non-repayment leakages. The repayment ratio and the recovery ratio could be controlled by reducing hidden grants or by improving the efficiency of the loan.Manoj pk (2012) “A review of educational loans disbursed during 2005-2011” he conducted the study using secondary data over the years. The researcher found that the banks offering both personal loan and educational loan, but the percentage of getting personal loan is high when compared to educational loan. The educational loan has been a domino effect in increase in the NPA of the economy.Binod Kumar Singh (2012) “Educational loan: an empirical study” he

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 conducted the research to find the level of satisfactions about educational loan and procedure among students who had obtained loan. He used primary data to collect the data through a questionnaire by using interview method. He compared the age, sex, nature of residence, educational qualification, income, total number of family members of the respondents, occupation of the respondent fathers with level of satisfaction. He concluded that the level of satisfaction was 52.8% and he stated that bank should change their policies in order to increase the percentage of satisfaction. Educational loan in SBI SBI educationalloan is available for courses at select leading institutions in India like IITs, IIMs, NITs, AIIMS and other premier institutions. One can avail a loan up to Rs. 30 lakhs. Global ed-vantage loan is exclusively available for full-time regular courses at foreign colleges and universities. One will avail a loan from Rs.20 lakh up to Rs. 1.5 crores. Skill loan is a term loan to Indian nationals for pursuing vocational education and training in India where admission has been secured. With SBI's take-over of education loans, one can switch his/her existing high cost education loan to SBI and reduce monthly EMIs (Equated Monthly Instalments). The interest rate in SBI, up to 7.5 lakhs are being offered at 9.15 % 1year MCLR rate with 2% and an effective interest rate of 11.15% and amount exceeds above 7.5lakhs, the MCLR is 9.15% with a 1.70% spread and an effective interest rate of 10.85 % for a year. Educational loan in Axis bank Education loan from axis bank can be given up to 85% of the total cost. This includes tuition fees, living hostel/accommodation costs, traveling cost and other expenditures (stationary, laptop) related to student’s education. For Indian students aspiring to study in India, loan can be provided on 95% of the amount. The remaining 15% or 5%, called margin money, has to be furnished by the student for each installment. This is done by transferring the amount to the bank account which will be directly paid by the bank to the educational institution. For other expenditures, receipts must be provided to be included in the loan amount of Axis bank education loan. All the colleges and courses have been categorized into 3 categories for the purpose of providing education loan from axis bank:  Prime A – mostly includes Masters programs  Prime B – also includes some Bachelors programs  Non-prime – Colleges and courses not included in the first two categories come under non- prime. The interest rate in axis bank, up to 4lakhs 15% of interest, up to 7.5 lakhs 14.50%, more than 7.5 lakhs 13.50% in the year march 2018. Educational loan in HDFC bank HDFC Bank offers up to Rs. 10 lakhs as education loans for studies in India. There are square measure of wide ranges of collateral choices additionally obtainable also available with HDFC Bank’s education loans. According to HDFC, resident Indians between the ages of 16 and 35 are eligible for education loans. For Loan amount 4lac <=7.5lac: third party guarantee and parent(s) as joint borrower(s) are required. For loan amount > 7.5lac: tangible collateral security along with parents are required to be joint borrower(s). The maximum tenure will go up to ten years for loans up to Rs. 7.50 lakh. For loans above Rs. 7.50 lakh, the most tenure will go up to fifteen years. Annual report of NPA for the past 3 years1 NPA for the year 2018 In the previous year the educational loan had 40% are in the form of NPA, which was issued by public sector banks. While disbursing the loans, bank follow the Indian Bank Associations (IBA) the percentage of NPA to outstanding education loan rose to 8.97 percent. The outstanding educational loan was 71724.65 crore of which 6434.62 crore was NPA. As per another data 1.5 lakh students availed education loan last year followed by Kerala 99314 and Karnataka 90630. PBS share in total lending by banks to the education sector is about 91.5 percent NPA for the year 2017 Despite increasing variety of scholars not return their loan spiking NPAs to ten percent, disposal continues for educational activities with the disbursal topping twenty thousand larger integer in fiscal 2017, according to a report. Banks and other lenders together disbursed around Rs 20,000 crore in education loans in FY17, up from around Rs 17,000 crore a year ago, while total outstanding grew. Non-performing assets (NPAs) within the education loan book of the system ballooned 21 per cent in the reporting year, spiking the NPA ratio to 10.2 per cent on 2017.Non-performing assets (NPAs) within the education loan book of the system ballooned 21 per cent in the reporting year, spiking the NPA ratio to 10.2 per cent on 2017. In the states of Tamil Nadu and Kerala the NPA was

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 higher when compared to other states. It is to be noted that all other sectors have shown low NPA excluding agriculture sector when compared to the educational loan. NPA for the year 2016 RBI data on education loans shows that about Rs 12,595 crore were disbursed on 684,836 loan accounts in the year 2016. However, the numbers came down in the year 2016-17, when Rs 11,175 crore were disbursed on 599,729 accounts. The subsequent year, 2017-18, witnessed a rise in the numbers, as Rs 13,470 crore were disbursed on 786,312 loan accounts. Tamil Nadu had the maximum number of education loan accounts at 152,608 under which Rs 1,659 crore was disbursed to students. Table 1 Gender, Age, Types of banks and Types of interest Gender distribution of the respondents Male Female Total Age of the respondents Below 20 20-25 Above 25 Total Types of banks Nationalized bank Private bank Total Types of Interest Fixed Floating Source: primary data

Frequency

Percentage

70 30 100

70 30 100

Frequency 24 66 10 100 Frequency 57 43 100 Frequency 73 27

Percentage 24 66 10 100 Percentage 57 43 100 Percentage 73 27

Interpretation The above Table # 1 shows the gender distribution of the respondents and age of the respondents. It is clear from the above table that 70% of the respondents are male and followed by 30% of the respondents are female. From the above table it is identified that 24% of the respondents are below 20, 66% of the respondents belong 20-25 and 10 % of the respondents are above 25 age. 57% of the respondents selected nationalized bank while 43% of the respondents selected private bank. 73% of the respondent’s selected fixed interest followed by 27% of the respondents selected floating interest. Table 2 Service quality Vs Procedure Procedure

Service quality

Pearson Correlation 1 .382** Sig. (2-tailed) .000 Procedure N 101 101 Pearson Correlation .382** 1 Servicequality Sig. (2-tailed) .000 N 101 101 **. Correlation is significant at the 0.01 level (2-tailed). Source: primary data H0: There is no significant relationship between service quality and proceduresadopted by the banks. H1: There is significant relationship between service quality and proceduresadopted by the banks.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation The Pearson correlation between service quality and procedures adopted by the bank is 0.382. It clearly seems that there is a significant positive correlation between service quality and simple procedure which is adopted by the bank and both these variables are associated with factors for selecting the bank. Hence null hypothesis (H0) is rejected and alternative hypothesis (H1) is accepted. Table 3 Service quality Vs Bank market strategy Sum of Squares

df

Mean Square

F

Sig.

Between Groups 24.986 4 6.246 3.766 .007 159.212 96 1.658 Within Groups 184.198 100 Total Source: primary data H0: There is no difference among service quality and bank market strategy. H1: There is difference among service quality and bank market strategy. Interpretation The probability value for service quality and bank market strategy is 0.007 (p<0.05). It clearly shows that service quality and bank market strategy have difference, hence the null hypothesis (H0) will be rejected and alternative hypothesis will be accepted (H1) that there is a difference between the service quality and bank market strategy. II. FINDINGS  70% of the respondents are male.  66% of the respondents are between the age 20-25.  57% of the respondents selected nationalized bank  73% of the respondents chose fixed interest.  Correlation between Service quality and Simple procedure is moderately positively correlated indicating that service quality and simple procedure are associated factor which helps to select the bank.  Anova on Service quality and Bank market strategy has a significant difference between the two variables. III. SUGGESTIONS AND CONCLUSION Customers are the backbone for the bankers, so the comfort should be made to them. The market strategy of the bank plays an important role and it makes the customers to trust the bank. A bank which has strong marketing strategy can sustain in the field and they can give competitions to other banks. There are several ways to improve market strategies of the bank. New mover customer acquisition can provide steady source of new clients for the bank. Digital retargeting can help the new customers to know about the bank and the level of trust and satisfaction will be higher. In today’s competitive climate, a single channel will fail to reach the desired customers so by using multiple marketing channels will reach the desired customers. The bank should provide the best moratorium period, low interest rate and terms to pay back the loan. By selecting the bank customers should know which bank offers you the best loan terms rather than more finance. Changing of EMI procedures from complex to simple one can helps the customer to select the bank. Service charges should be minimized. Banks offering different courses for educational loan, different courses includes different duration period of the course so that each course should have separate interest rate and it should not be based on the amount so that people will be satisfied regarding the interest rate.So therefore, as per bankers’ side they should make strong market strategy, awareness, sanctioning the loan for job-oriented courses, low interest rate, service quality, simple procedure, advertisement can make the bank more effective. As per customers side, when they obtained the loan their only duty is to repay the loan properly and it would reduce the NPA. IV. REFERENCES 1. Adrian ziderman (2008) “Student loans repayment and recovery (international comparisons) 2. Binod Kumar Singh (2012) “Educational loan: an empirical study” 3. BarunPauldel (2017) “Student loan repayment prediction” 4. Edward Wong SekKhin&Ahmad Nasharuddin (2017) “Education loan repayment and performances: The Malaysian graduate’s perspectives” 5. Manoj pk (2013) “Educational loan and non-performing assets-an empirical study” 6. Manoj pk (2012) “A review of educational loans disbursed during 2005-2011” 7. Maria Bartekova&LudomirSlahor (2015) “The role of student loan subsidized by the state in the Slovak banking sector” 8. Economic times, India today, The Hindu.

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A STUDY ON EFFECTS OF DIGITAL MARKETING ON FOOD APPS TOWARDS CUSTOMERS IN CHENNAI S. MURALIDHARAN B.Com Final Year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai -04, ABSTRACT Digital marketing is the next big in market due technological advancements which leads to decline traditional marketing strategies by many commercial enterprises digital services that makes complicated services into simpler ones. Digital services on the other hand are services that are any services that can be delivered through an information infrastructure such as the internet, in various forms via applications, web pages, social media, etc. In the paper the major focus will be on the various apps that are available either by 3rd party for delivery purpose or by restaurants themselves for various reason such as door to door delivery, back up services etc. The main objective of this study is to understand the perception of customers toward the online food delivery service as well as explore factors that could affect consumer decision-making process toward the online food delivery service. As well as to understand the impact digital marketing on consumer behavior. This research would be to useful restaurant entrepreneurs who wish to build a strong place on the online food industry platform KEY WORDS: digital marketing, consumer behavior, digital services I. INTRODUCTION Digital marketing is a very board theme: every company, from the biggest to the smallest one, should implement its innovative tools in order to be more visible and attract new customers in the present digitalized scenario Technology has played a key role in revolutionizing the food delivery service, It has contributed to changes in consumer preferences as their dependency of technology has motivated to do everything online comprising getting cooked meals delivered to their doorstep. Convenience is the major factor to the consumers, as to place an order is as simple as few clicks on any mobile devices. Technological dependency, convenience and less time taken for the food to be delivered aids as a good reason for the consumers to choose the services offered by the online food ordering and delivery service portals. The popularity of food apps ordering and delivering services is instep growing; expectations of the users are also increasing. This research paper is aimed to respondents views about the services they receive from different portals. This paper will help the service providers to understand the consumer’s perception, needs and views on the basis of the result of a survey. Presently the Indian Restaurant businesses have also adopted the online business strategies. There are now many new restaurant businesses that are selling make to order food without having a physical store. These restaurants use the online platform as a medium to communicate with its customers. With a diverse range of cuisines and price ranges available in the market, it is much easier to find something palatable to hungry and picky consumers online. II. OBJECTIVES OF THE STUDY  To find out how digital marketing influence the customers in purchasing products through apps.  To know the customer’s awareness about food apps  To find out the satisfaction level of digital marketing in food apps  To find out the various effects of digital marketing in food apps  To give some suggestions Statement Of The Problem Since there are only a limited research is done in this topic, it is necessary to know the growth of these food apps in recent times. The food sector in India is growing at a rapid pace, to indicate the impact of digital marketing on customers it is required to food apps are influencing customers taste and preference ‘To the effects of digital marketing on food apps towards customers in Chennai city’. Research Methodolgy Primary data: Questionnaire are circulated to respondents. Secondary data: Data gathered from gathered from studies, surveys, or experiments that have been run by other people or for other research Sampling size: A sampling size of 100 respondents were taken Sampling area: The study within Chennai city Sampling techniques: Convenience sampling Statistical techniques used: Frequency tables, mean analysis, ANOVA, CHI-SQUARE

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Hypothesis of the Study 1. HO: There is no significant relationship between age and food apps of customer of the food delivery H1: There is significant relationship between age and food apps of customer of the food delivery 2. HO: There is no significant relationship between Income and preference of customer of the food delivery apps. H1: There is significant relationship between Income and preference of customer of the food delivery apps 3. HO: There is no significant relationship between income and average spending of customers and food delivery apps. H1: There is significant relationship between income and average spending of customers and food delivery apps. Limitations of Study  A small sample size of 100 respondents have been taken for study which is carried out in different areas of Chennai  The findings may not be applicable to the other parts of the country because of social and cultural differences  Lack ok technical analysis tools were used  Limited access to information regarding company reports  Some respondents might have given biased answers which might have an impact on the findings of the studies Review of Literature 1. Hossain F, Adelaja AO (2000) Consumers’ interest in alternative food delivery systems: results from a consumer survey in New Jersey. Journal of Food Distribution Research, This study is new jersey where consumer survey through various questionnaire and personal interview this study is about consumer preferences towards alternate food delivery channels preferred over traditional one. 2. Sheryl E. Kimes Ph.D. (2011), “Customer Perceptions of Electronic Food Ordering”, Cornell Hospitality Report, 11(10), pp. 6-15. This study is done to know customers preferences towards electronic food ordering system and their influence on customer’s taste and preference. 3. Cavusoglu M (2012) Electronic commerce and Turkish patterns of online food delivery system. International Tourism Biennial 3: 46-61. According to this study Human habits and preferences have been evolving throughout the years, as they are heavily influenced by the technologies and information across the world. 4. Bhavna Singh (2015) said that Foodpanda has been present in the Indian market since May 2012. Foodpanda first major move was acquisition of TastyKhana, which was launched in the city of Pune in 2007. Together with Tasty Khana and just eat, it is now present in over 200 cities and partners with over 12,000 restaurants. Data Anaysis And Interpretation HO: There is no significant relationship between age and food apps of customer of the food delivery H1: There is significant relationship between age and food apps of customer of the food delivery Table 1 Table showing ANOVA of Relationship between Age and food apps ANOVA Sum of Squares Df Mean Square Swiggy

Between Groups

10.328

3

3.443

Within Groups

122.832

96

1.280

Total

133.160

99

5.772

3

1.924

Within Groups

117.788

96

1.227

Total

123.560

99

Between Groups Zomato

Between Groups Foodpanda Within Groups Total Between Groups Uber eats Within Groups Total Fasoos

Between Groups Within Groups

4.851

3

1.617

177.899

96

1.853

182.750

99

7.853

3

2.618

178.897

96

1.864

186.750

99

9.017

3

3.006

174.023

96

1.813

288

F

Sig.

2.691 .05

1.568 .202

.873 .458

1.405 .246

1.658 .181

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 ANOVA Sum of Squares Df Mean Square Swiggy

Between Groups

10.328

3

3.443

Within Groups

122.832

96

1.280

Total

133.160

99

5.772

3

1.924

Within Groups

117.788

96

1.227

Total

123.560

99

Between Groups Zomato

Between Groups Foodpanda Within Groups Total Between Groups Uber eats Within Groups Total Fasoos

Between Groups Within Groups

4.851

3

1.617

177.899

96

1.853

182.750

99

7.853

3

2.618

178.897

96

1.864

186.750

99

9.017

3

3.006

174.023

96

1.813

F

Sig.

2.691 .05

1.568 .202

.873 .458

1.405 .246

1.658 .181

Interpretation The above table 1 shows the significant value of different food apps. It is clear from the table that significant value for swiggy is0.05 which is less than or equal to 0.05. Hence it is inferred that there is asignificant relationship between age and preference of food apps, it states that Swiggy is most preferred food app most among other food apps HO: There is no significant relationship between Income and preference of customer of the food delivery apps. H1: There is significant relationship between Income and preference of customer of the food delivery apps Table 2 Table showing ANOVA of Relationship between Income and Preference of Food Apps ANOVA Sum of Squares Df Mean Square Between Groups

5.809

4

1.452

135.191

95

1.423

141.000

99

7.856

4

1.964

134.704

95

1.418

Total

142.560

99

Between Groups

10.541

4

2.635

Within Groups

132.459

95

1.394

Total

143.000

99

Between Groups

18.781

4

4.695

Within Groups

125.059

95

1.316

Total

143.840

99

Between Groups

15.810

4

3.952

Within Groups

139.900

95

1.473

Total

155.710

99

fast delivery Within Groups Total Between Groups Convenient Within Groups

time saving

low cost

Others

F

Sig.

1.021 .401

1.385 .245

1.890 .119

3.567 .009

2.684 .036

Interpretation The above table 2 shows the value significant value. It is clear from the table that significant value for low cost is.009 which is less than or equal to 0.05. Hence it is inferred that there is a significant relationship between income and preference of customers of online food delivery apps. It is inferred the low cost is the most influencing factor for buying food from online food delivery apps HO: There is no significant relationship between income and average spending of customers and food delivery apps.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 H1: There is significant relationship between income and average spending of customers and food delivery apps. Table 3 Table showing the Chi-Square tests of Relationship between Income and Average Spending CROSSTABULATION COUNT

how much money do you spend to order food online less than 500 500-1000 1000-1500 1500-2000 above2000 Total

income of the respondent below10000

33

14

7

2

2

58

10000-20000

3

1

3

0

2

9

20000-50000

8

6

3

0

1

18

50000-100000

3

2

2

0

0

7

100000above Total

2

2

1

1

2

8

49

25

16

3

7

100

Table 4

Chi-Square Tests Value Df Asymp. Sig. (2-sided) Pearson Chi-Square 18.251a 16

.309

Interpretation The above table 4 shows the value of chi square & its significant value. It is clear from the table that significant value 0.309 which is greater than 0.05. Hence it is inferred that there is no significant relationship between income and average spending of customers and food delivery apps. III. FINDINGS OF THE STUDY  There are 55 male respondents and 45 female respondents  Respondents between the ages of 20-25 years of 54% of total respondents  Older age respondents hesitate to order food on online  Nearly 45% states that ordering food through food apps is easy and convenient  Swiggy is the most preferred food apps with among its competitor’s  Many respondents preference are likely is based on reviews and ratings  Many feels that online apps are user friendly.  Since low number of problems regarding on time delivery it is required to have effective food delivery system for optimal customer’s satisfaction IV. SUGGESTIONS  Proper nutritional value of food to be showcased in websites  Restaurants should provide options to vegan customers and also these food apps should more accessible to vegan products.  Restaurants should focus on giving their customers the best quality and various options on choosing the variety of food stuff.  Restaurants operators should increase online ordering through simple addition of new distribution channels to attract the customers. V. CONCLUSION This study has shown that effective digital marketing strategies and convenience are keys to customer use of online ordering which leads to higher satisfaction. My findings indicate that restaurant operators should focus on giving their customers higher levels of ease and convenience, since these are associated with a higher intent to use online ordering in the future.To conclude customers will appreciate not having to wait and mobile plays a major role in online food delivery system VI. REFERENCES 1. http://www.cit.com/perspectives/executive-insights/index.htm 2. http://www.restaurantbusinessonline.com/improving-operations/50-great-ideas 3. https://www.iacquire.com/blog/study-online-shopping-behavior-in-the-digitalera 4. http://www.wikihow.com/Order-Food-Online-with-Snapfinger. 5. https://www.slideshare.net/biznessapps/food-ordering-apps.

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IMPACT OF BUYING BEHAVIOUR ON STOCK LEVEL MAINTENANCE IN RETAIL STORES WITH SPECIAL REFERENCE TO THIRUVANMIYUR IN CHENNAI REGION B. PRASANNA BALAJI Final year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College Evening college (Autonomous) Mylapore, Chennai-600004 ABSTRACT The project aimed at answering the questions of impact of buying behaviour on stock level maintenance in retail stores. Questionnaire are prepared related to this topic. It contains both metric and categorical questions. Primary data is collected from the 50 respondents who lives in thiruvanmiyur in Chennai region. Convenience sampling method is used here to collect the primary data. With the help of SPSS software mean analysis, frequency analysis, ANOVA, correlation and regression are tested using the primary data which is collected from the consumers. This study intends to found out that stock maintained in supermarket are based on factors like seasonal, locational, cost and to found out that maintenance of stock also plays a important role in preferring supermarket by the consumers. Keywords: Supermarket stock maintenance, purchasing behaviour, retail store stock level I. INTRODUCTION Supermarket is a place, where there is physically availability of products is more, like grocery products, diary, meat, fruits and vegetables, frozen and processed foods and other house hold products, etc. The main characteristic of supermarket is the absence of sales man. Supermarket works on the self-service basis. And mainly it operates on cash basis. Supermarket do not sell the products to the consumers on credit basis. Supermarket is always located in residential areas to attract the consumers for their sales development and also for the convenience to the consumers. Supermarket is smaller than hypermarket. Hypermarket which means supermarket is combined with the departmental store. Stock which means products are maintained to sell for the consumers in business’s daily operation. To satisfy the consumers demand stock has to be maintained in a balanced proportion. Availability of stock also plays an important role in consumer preferring supermarket and for the consumer satisfaction. Maintenance of stock in supermarket is based on factors like location, seasonal, etc. maintenance of stock in supermarket is also a valuable factor for consumer preference and satisfaction. Supermarket buys goods from manufactures at lower prices than the smaller stores using their purchasing power. So, supermarket have the ability to sell the products to the consumers at lower prices. II. OBJECTIVES 1) To determine the factors influencing the level of stocking of inventory in supermarket 2) To determine whether consumer preference of supermarket depends on pricing factors 3) To know whether consumer need is a dependent factor on maintaining stock level in supermarket Limitations 1) There is difficulty in acquiring information from higher authority of supermarket 2) There is time constraint in collecting resources relating to the study Data Collection and Methodology Convenience or opportunity sampling methodology is used to collect the primary data. Convenience sampling means simply selecting those people that are available at that time. E.g. going to supermarket and interviewing the people who are available at that time. To fulfil the objective set, the data collected was collected from the consumers through questionnaire. Data Collection Source The major source of collection of data is through primary data. Sample Size Sample size restricted to 50 people. Sample Area Thiruvanmiyur, Chennai. Tools Used Mean analysis, frequency analysis, regression, correlation and ANOVA Review of Literature 1. Author Name: For Nell Year of Publication: 1992 That consumer satisfaction increase consumer loyalty and prevents consumer churn, lowers the shoppers worth sensitivity, reduces the prices of unsuccessful promoting and of recent consumer creation, reduces operative prices because of rise within the range of consumers, improves the effectiveness of the advertising and enhances business names. 2. Author Name: Walker Year of Publication: 1995 Concludes that his model affords higher understanding of the method of service satisfaction. By characteristic and separating the peripheral and core dimensions of services, by expressly considering the analysis method over time, by implementing the thought of active and passive expectations inside a service encounter, and by incorporating a consumer’s zone of indifference, a lot of realistic call method for shopper evaluations of services comes forth.

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3. Author Name: Haemoon Year of Publication: 1999 Steered a model for consumer satisfaction that seems to possess sensible validity further more as informative ability. He use this model in edifice trade, and results area unit supporting a holistic approach to welcome of consumers post purchase decision making method. 4. Author Name: Lu And Seock Year of Publication: 2008 Check the relationships between perceived service qualities their satisfaction to those stores. The results showed that every one 3 service quality dimensions within the study were considerably and absolutely associated with their satisfaction at their favourite malls and overall loyalty behaviour to those stores. Data Analysis and Interpretation Data analysis could be a method for getting information and changing it into data helpful for decision making by researchers. Data interpretation means data square measure collected and analysed to answer quarries and check hypothesis. Correlation between Stock Maintenance and Seasonal Factor Table 1 Availability of Seasonal Products are also Stock Available in Supermarket Pearson Correlation 1 .304* Sig. (2-tailed) .032 N 50 50 Pearson Correlation .304* 1 Seasonal Products are also Available in Sig. (2-tailed) .032 Supermarket N 50 50 *. Correlation is significant at the 0.05 level (2-tailed). Interpretation: From the above table it can be concluded that there is significant relationship between stock maintenance and seasonal factor. Because the significant value is less than 0.05 Correlation between Stock Maintenance and Cost of Product Table 2 Availability of Stock All Cost of Products Available Pearson Correlation 1 .333* Availability of Stock Sig. (2-tailed) .018 N 50 50 * Pearson Correlation 1 .333 All Cost of Products Available Sig. (2-tailed) .018 N 50 50 Availability of Stock

*. Correlation is significant at the 0.05 level (2-tailed). Interpretation: From the above table it can be concluded that there is significant relationship between stock maintenance and cost of product. Because the significant value is less than 0.025 Multiple Regressions in Stock Maintenance on Supermarket Based on Location, Seasonal, Pricing Factor ANOVAc Model Regression

Table 3 Sum of Squares DF 3.374 1

Mean Square 3.374

1 Residual

27.126

48

Total

30.500

49

Regression

6.106

2

3.053

2 Residual

24.394

47

.519

Total

30.500

49

292

F Sig. 5.971 .018a

.565 5.882 .005b

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table 4 Unstandardized Coefficients Standardized Coefficients Model T Sig. B Std. Error Beta (Constant) 1.531 .332 4.609 .000 1 All Cost of Products Available .392 .161 .333 2.443 .018 (Constant) .965 .403 2.397 .021 2 All Cost of Products Available .387 .154 .328 2.516 .015 Seasonal Products are Available .259 .113 .299 2.294 .026 Interpretation: This table shows the value of beta a significant value. It is clear from the table that variables such as location, seasonal, cost of products purchase have significant value less than 0.025. So, hence it is inferred that these factors influence the stock maintenance in supermarket. Supermarket Maintain Stock in Future Table 5 Frequency Percent Valid Percent Cumulative Percent Strongly agree 8 16.0 16.0 16.0 Agree 18 36.0 36.0 52.0 Neutral 18 36.0 36.0 88.0 Valid Disagree 4 8.0 8.0 96.0 Strongly 2 4.0 4.0 100.0 Disagree Total 50 100.0 100.0 Chart 1

SUPERMARKET MAINTAIN STOCK IN FUTURE 40 36

36

35 30 25 20 16 15 8

10

4

5 0 Strongly agree

Agree

Neutral

Disagree

Strongly Disagree

Interpretation: This table shows most of the respondents are responded to agree and neutral. In addition, the mean value is 2.48, it is positive. So, hence it is inferred that the supermarket will maintain stock in the future. III. FINDINGS The majority of respondents agreed that supermarket will maintain stock in future also. The stock maintained in supermarket is based on the seasonal factor. The stock maintained in supermarket is based on the purchasing cost factor. The purchasing cost factor influence more in supermarket stock maintenance because its significant value is more positive than seasonal factor. IV. SUGGESTIONS 1) Most of the consumers are satisfied with their products, but they expect more new products. 2) Appearance of supermarket is normal. Consumers feel appearance is good, still measures has to be taken to improve the appearance.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 3) The supermarkets are suggested to provide different special offers and implement new techniques to increasing the volume of sales. 4) The supermarket are required wide publicity, age up to 20 – 30 consumers are majority in visiting of the shop, so as to provide more publicity in case of attract all levels of people. 5) The respondents are suggested to provide more good quality product at reasonable rate and increase their perception. 6) The supermarket should maintain stock in a balanced proportion in the future also, to increase the sales and to satisfy all the needs of the consumers. 7) The stock maintenance based factors like seasonal, location are also strictly watched and they should be updated to satisfy the demands of the consumers in present and also in future. 8) A supermarket should try to attract all the category of age persons, by their stock maintenance, consumer relationship, appearance, then they can get 5 out of 5 ratings by the respondents. V. CONCLUSION A study was started during in the previous month collecting information from the consumers of supermarket in thiruvanmiyur. The structure of a data collection was used in questionnaire method. We collected 50 respondents from the various category consumers, who visited supermarket in this year. The study will be useful for all the peoples. There are certain areas that should be improved in all supermarkets. Through this project, the researchers have interacted with so many peoples. The researcher collected lots of information regarding this project. The researchers would be happy if the results of this project is used by the super marketers to attract their consumers. And this project also gives an idea about the stock maintenance in the supermarket and helps for the update of stock maintenance, know the new demand of the consumer’s, increase the sales volume, etc. VI. REFERENCE 1. Kothari C.R (2002), “Research Methodology”, Wiley Eastern Ltd, New Delhi, 2nd Edition 2. Kumar, lokesh (2010), Live project report on inventory problem of big-bazaar 3. Prasad Krishna .P and siddarthan k.M, (2016) A study on customer preference and satisfaction towards supermarket with reference to Palakkad city 4. Hari Haran.S, A study on consumer satisfaction towards supermarket with reference to Coimbatore 5. Parasuraman, A., Valerie A. Zeithaml and leonard L. Berry, (1991), Undestanding consumer expectation of service. Sloan management review (spring), pp39-48.

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THE ROLE AND IMPACT OF PACKAGING ON CONSUMER BUYING BEHAVIOR Ch. V. NILESH KUMAR Final year, Department of Accounting and Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous) Mylapore, Chennai-4 ABSTRACT The objective of this study is to determine the elements that play an important role on consumer’s buying behavior. The purpose of this research is to find out the main important factors related with the packaging effect, which are driving the success of a brand. Companies in order to create the right packaging for their products, they must understand the consumer buying process and understanding the role and the impact of packaging as a variable that can influence the purchase decision. So, by understanding what factors influence the buying behavior and what packaging elements are most important help companies making the right decisions about packaging their products. Key Words: Packaging elements and consumer behavior. I. INTRODUCTION Packaging plays out a central role as a medium in the marketing mix, in indicating the character of new items, in promotional campaigns, as a pricing pattern, and as an instrument to make shelf impact. It mirrors the level of imagination, advancement, innovation, cutting edge characteristics the brand may have. It has been uncovered that Packaging is the fundamental and noteworthy factor which to a great extent influences the consumers buying behavior. It very well may be considered as one of most esteemed tool in the present marketing communications, procuring extra detail examination of its components and an impact of such components on consumer buying behavior. Package executes a critical function in marketing communications, primarily during the moment of sale. On the other hand if packaging has appealing and right tone of colors that conveys obviously the message of your product then it will impact buyer's purchasing conduct and consumer will buy that item. In addition attractive packaging shape can make a brand one of a kind, can make a brand famous, supports in affirming brand name, hold its unique quality, and stands apart on the shelf. Package size, that is one of the utmost accessible and simple top-process item prompts to which client are exposed, can significantly affect consumer purchasing behavior. It has likewise discovered that labeling on the item could assist customers with making decisions on the item to buy and furthermore encourage them how to utilize item, its name, and value, content and suitable data. Minor packaging material or measurement changes to the FMCG item do not altogether influence the purchasing behavior of buyer for FMCG items on the retail rack .It regards that there is a 100% equivalent association among consumer buying behavior and good nature of material utilized. II. OBJECTIVES This paper tries to analyze and find out the most important elements of packaging that influence the buying decision process. Thus, the paper will try: 1. To determine how packaging influences consumer buying behavior 2. To check the effect of packaging elements on the buying behavior Scope of the Study In this research paper data have been gathered about how brand packaging elements influence on consumer buying behavior This research has filled the gap by encompassing all the possible and generally accepted packaging elements which includes the variables of packaging. The study has been conducted Chennai, Tamilnadu. Limitations Although this research was prepared carefully, the period of time is not sufficient for the researcher to observe large respondents from different areas of city; research can be further conducted in other cities of Tamilnadu also but it only focused mainly on one city. It would be best if it was done in a longer period of time on large geographical area and with fewer burdens of other subject’s projects. Some other limitations to research also include: 1) Lack of cooperation by some respondents to the questionnaire 2) Lack of knowledge of some respondents to the questionnaire Literature Review 1. R.C. Coles (1990) worked on paper: Packaging Innovation in the Food Industry. Develops and exemplifies the proposition that the key factors determining the success of packaging innovation can be unified by considering them as consumer driven, technology driven, and distribution driven. The concept of the packaging and distribution mix is developed to show how organisations can respond, through marketing variables under their control, to attempt to gain a competitive advantage over rivals. A packaging optimisation strategy is described, based on a total systems approach, which proposes a balance between the complex mix of external influences.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 2. Peni Walker (1990) worked on paper: Food packaging and the environment. The past year has seen the rise of ‘green consumerism’, the phenomenon of thinking about the environment when making consumer choices. The most striking example of green consumer pressure was the CFCs in aerosols campaign run by Friends of the Earth. This campaign was so successful in mobilising consumer action, that by the end of 1989, fewer than 10% of aerosols contained CFCs. Consumers are now becoming concerned about the loss of resources caused by unnecessary packaging. Peni Walker, Recycling Campaigner, Friends of the Earth discusses the possibilities 3. Gordon Wills (1975) worked on paper: Packaging as a Source of Profit. This monograph eschews the view that packaging is an exclusively marketing tool, or for that matter the concern of the distribution function alone. The author insists that a total systems view should be taken of the multiple purposes which the pack must meet. This poses very real problems for at least three levels—the conceptual acceptance of the proposition, its interpretation into operational terms, and implementation/control of the packaging activity. This discussion is intended for all directors of companies with a substantial recurrent expenditure in packaging as well as for members of the distribution function itself. Accordingly, it takes a managerial rather than a technical view of packaging. It stresses the critical importance of the state of goods on arrival with the customer; the aesthetics and sales power of packaging; the informative role of the pack; issues of unitisation; handling problems at all stages in the channel; and the ecological/environmental aspects in contemporary society. At each juncture, sensible plans of action are proposed. 4. Noreen M. Klein (2001) worked on paper: Packaging communication: attentional effects of product imagery. This article provides a theoretical framework for understanding the communicative effects of product imagery on attention to the brand, specifically, the attentional effects of incorporating a picture or illustration of the product on the packaging of the product. Empirical results from a virtual reality simulation show that package pictures increase shoppers’ attention to the brand. However this effect is contingent, occurring only for low familiarity brands (private‐label brands) within product categories that offer a relatively high level of experiential benefits. These results suggest that package pictures may be especially useful for private label brands and/or lesser tier national brands whose strategic objectives are to improve consumers’ perceptions of the brand and enter the consideration set. 5. Bo Rundh (2016) worked on paper: The role of packaging within marketing and value creation. The purpose of this paper is to explore the importance of innovative packaging for marketing purposes in a food supply chain. The intent is also to understand the function of packaging as a marketing tool. The outcome of the study is expected to contribute to the link between packaging and marketing literature. The present study demonstrates that packaging has become an important tool in marketing of different products either this is for end-consumers, or customers in a supply chain. This has become more essential as more products are introduced on a market. The study shows the significance of linking packaging to marketing strategy. An important ingredient for that is the use of packaging design for differentiation purposes. The results support also that packaging has become an essential factor for a secure and efficient distribution in a food supply chain. In addition, packaging and packaging design is contributing to value creation for different actors in a food supply chain. Methodology This study used different methods, and methodology explains the process of research, design, methods of data collection, sample selection, and ways of analyzing the data. Research is an intensive activity that is based on the work of others and generating new ideas to pursue new questions and answers. The main purpose of this paper was to identify the role and the impact of the packaging elements on the consumer buying behavior. The buying behavior of consumers is a dependent variable that is influenced by the independent variables used in the study.  Data Collection The paper used both types of data, primary and secondary. The primary data was collected through a structured questionnaire. Whereas, secondary data was collected from books, textbooks, online articles,etc.  Method of Data Analysis To make analysis of data I have used SPSS software to find the influence of brand packaging elements on consumer buying behavior and to determine whether any change in packaging changes the consumer buying behavior or not.  Target Population Target population involves the users, deciders and buyers of FMCG products. The users include the old and the young population. The deciders and the buyers mostly include the youngsters who are the major buyers of FMCG products.  Tools To Be Used 1.Chi-square test 2.Anova 3.Correlation

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Data Presentation and Analyses This chapter includes a systematic presentation of data obtained from the survey about the role and impact of the packaging on consumer buying process. A structured questionnaire was sent to 106 respondents, but a total of 100 responded. Thus the respondents rate is about 94%. The study included different age groups , different occupations and different income level of the respondents. Testing Hypothesis  Chi-Square Test H0: There is no relationship between age and awareness of the information printed on packages H1: There is a relationship between age and awareness of the information printed on packages. Table 1 CHI-SQUARE TEST Pearson Chi-Square

Value 3.237a

DF 3

Asymp. Sig. (2-sided) .356

Likelihood Ratio

2.830

3

.419

Linear-by-Linear Association

1.037

1

.308

N of Valid Cases

100

a. 3 cells (37.5%) have expected count less than 5. The minimum expected count is 2.00. Chart 1

Interpretation: From the above table1 and chart1 it is inferred that the significant value is 0.356 (>0.05). Hence, null hypothesis is accepted and there is no association between age and awareness of information printed on packages.  ANOVA H0: The two attributes namely income level and price information are independent. H1: The two attributes , income and price information are dependent. Table 2.1 ANOVA Sum of Squares df Mean Square F Sig. Between Groups 14.360 3 4.787 4.376 .006 Within Groups Total

105.000

96

1.094

119.360 99 Table 2.1 N Mean Std. Deviation

Std. Error

15000-20000

19

3.8947 1.32894

.30488

20000-30000

15

3.2667 1.33452

.34457

30000-35000

32

4.3438 .90195

.15944

35000 and above

34

4.2941 .83591

.14336

Total

100 4.0800 1.09802

297

.10980

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation: From the above table 2.1 and table 2.2 it is inferred that the significant value is 0.006 and it is concluded that the significant value is lesser than 0.05. Hence, null hypothesis is rejected and the two attributes , income level and price information on the package are dependent.  Correlation The factors obtained from the analysis for this particular correlation analysis is as follows: Table 2.1 nutritional fact food grade Product detail veg or non-veg marks way of using weight Product value price Table 3.2 Correlations product composition Product value Pearson Correlation 1 .674** product composition Sig. (2-tailed)

.000

N

100

Pearson Correlation Product value

.674

**

Sig. (2-tailed)

.000

N

100

100 1 100

Interpretation: The above table 3.1 and 3.2 shows the correlation and its significant value. The correlation between product composition and product value is 0.674 which is a significant positive correlation indicating that product composition is associated with product value and vice-versa. III. FINDINGS, SUGGESTIONS 1) Packaging information plays a very important role in consumer purchase decisions. 2) Most important finding is that nearly all respondents are aware of the printed information. 3) Majority of the respondents check for the information on a regular basis. 4) Mostly consumers check for price, content details, nutritional facts and the way of using. 5) The companies should print the information in appropriate sizes so that everyone can have a clear view. 6) In some cases abbreviations are used which cannot be understood by everyone. Hence, expansions can be used to give greater convenience to the consumers. 7) The information should be highlighted in deep and contrasting colors for greater visibility. 8) The information should be easily accessible and should not be printed in corner or bottom of the packaging. 9) Quality packaging should be done to avoid breakage, spillage and decaying problems. IV. CONCLUSION The information on packaging represents an important element and it can support marketing communication strategies of companies, creates brand image and distinctiveness. Printed information contains all the information related to the product quality, price, and description which help customers identify the product and facilitate the decision process during purchasing. It also helps the consumers in using the products in right manner specifying any health hazards if any. The obtained results found out that the packaging elements are very important during the buying process without which the consumers will find it difficult to distinguish between products and buy. V. REFERENCES 1. Gordon Wills, (1975) "Packaging as a Source of Profit", International Journal of Physical Distribution,Vol.5Issue:6,pp.305-334 https://doi.org/10.1108/eb014355 2. R.C. Coles, B. Beharrell, (1990) "Packaging Innovation in the Food Industry", British FoodJournal,Vol.92Issue:9,pp.21-3 https://doi.org/10.1108/EUM0000000002332 3. Peni Walker, (1990) "FOOD PACKAGING AND THE ENVIRONMENT", Nutrition & FoodScience,Vol.90Issue:3,pp.10-11 https://doi.org/10.1108/eb059294 4. Bo Rundh, (2016) "The` role of packaging within marketing and value creation", British FoodJournal,Vol.118Issue:10,pp.2491-2511 https://doi.org/10.1108/10610420110410531 5. Noreen M. Klein, Raymond R. Burke, (2001) "Packaging communication: attentional effects of product imagery", Journal of Product & Brand Management, Vol. 10 Issue: 7, pp.403-422 https://doi.org/10.1108/10610420110410531 OTHER REFERENCES 1. https://www.goodreads.com/shelf/show/marketing-research 2. https://www.enae.es/course/consumer-behaviour-and-marketing-research-international-context

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WOMEN EMPOWERMENT ON HOTEL MANAGEMENT WITH SPECIAL REFERENCE TO PARK HYATT CHENNAI CITY M. LALITH KUMAR Final Year, Department of Accounting & Finance Ramakrishna Mission Vivekananda College, Evening College (Autonomous), Mylapore, Chennai-04 ABSTRACT Hotel industry is considered as one of the world’s largest economic activities now. This industry creates a lot of employment as it is a labour intensive service industry. It is observed that the hotel industry is a large and fast growing service sector. Women are employed in every department, including as cleaners and kitchen staff, front line customer service workers and senior management. In the hotel industry, the involvement of women is high, but their role is dominated by unskilled, low-paid jobs. It even provides self-employment for women.The study focused on assessing women empowerment in relation to employee performance in the Park Hyatt Hotel. So far, many studies have discussed about the socio-cultural, economic and environmental aspects of hotel industry but none of such research works have focused towards the women’s participation in the hotel industry. Keywords: Hotel industry, Women empowerment I. INTRODUCTION The hotel industry is an important instrument for sustainable human development including poverty alleviation, employment generation, environment regeneration and advancement of women. The contribution of women in the business world has increased in recent years. In the hotel industry, the percentage of women who work in the industry is high, but their function is dominated by unskilled, lowpaid jobs. The hotel industry definitely provides various entry points for women’s employment and opportunities for creating self-employment in small and medium sized income generating activities. This paper aims to examine the empowerment of women in the Hotel industry, analyse and evaluate the demographic characteristics and socio - economic characteristics of women working in the hospitality industry. In addition, the paper discusses the levels of women's participation in hospitality industry and presents some observations and suggestions based on the findings of the study. II. OBJECTIVES 1. To study whether women empowerment is there in hotel industry 2. To know whether women can handle pressure in hotel industry 3. To analyze in which department women are employed in hotel industry 4. To know whether the women employees increasing in hotel industry Scope The scope of the study covered maximum number of employees in the hotel ‘Park Hyatt’. The study focused on assessing women empowerment in relation to employee performance in the hotel industry. Research Methodology Primary data: Questions raised to hotel employees with the help of questionnaire through Google forms, for conducting the study we developed a questionnaire. The aim of questionnaire was to know about women empowerment in hotel industry. Secondary data: Data supporting primary data were taken from various websites from internet. Tools Used The data collected has been analysed by using SPSS software and analyzed by the following analysis methods. 1. Correlation 2. Anova 3. Mean analysis Limitation 1. The study is limited to the hotel ‘Park Hyatt’ Chennai 2. Men employees have also contributed to this study. 3. The time duration is also a main factor of limitation. 4. An element of personnel bias affects the data to some extent. 5. Research of this study maybe applicable only to areas similar to that of the study area Review of Literature 1. Critical Theory for Women Empowerment through ICT Studies by Meera Kenkarasseril Joseph (2013) The author of this paper looks to cover Habermas based critical theory to understand the politics of women's empowerment through the use of ICTs.The paper examines the role of ICTs in developing marginalised women from the coastal areas of southern India. This study presents Habermasian based approach to address women's developmental goals.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 2. An Empirical Study on the Impact of Micro Enterprises on Women Empowerment by D. Arul Paramanandam (2015) This study aims to find whether the micro-enterprises lead to women empowerment and entrepreneurship and make them to be wholly involved in income-generating activities by having them choose a business venture of their own.Without women development, economic development will not take place. Women should be imparted technical knowledge, skill training and marketing techniques in the process of establishing an enterprise by them for more sustainability. 3. Determinants of Participation in Self-Help-Groups and Its Impact on Women Empowerment by Simantini Mohapatra, & Bimal Kishore Sahoo (2016) The author examines the study is to gain meaningful insights into a microfinance programme in two different agro-ecological settings in India. The study finds that the programme has by-passed the poorest of the poor. It is observed, however, that participation in microfinance has a positive and significant impact on women empowerment. 4. Empowering Women and Stimulating Development at Bottom of Pyramid through MicroEntrepreneurship by Susmita Chatterjee (2018) The author examines is to address the sustainability issue of Self-help groups by means of developing small business/micro-entrepreneurs. The examination supports the causal relationship between empowerment through SHG and small business.The study is conforming the policy of group forming and, at this stage, develops a conceptual framework but with real implications for comprehensive policy decisions. Park Hyatt Chennai Park Hyatt Chennai is a five-star luxury hotel located at Guindy, Chennai, India that opened in 2012. It is the 30th hotel in the Park Hyatt portfolio.The hotel was built by entrepreneur Vijay Mahtaney, owner of textile business Ambattur Clothing, upon diversifying into the business of building hotels, IT parks and residential projects through Ambattur Developers.Owned by Mahtaney and managed by Hyatt, the hotel was inaugurated on 1 October 2012.The 11-story hotel has 201 rooms (ranging from 43 to 180 sq m), including 20 suites, spread across seven floors. An 8,072 sq ft (747 sq m) banquet space is divisible into six rooms. A swimming pool overlooks the Guindy National Park.The hotel was designed by New York architects, George Wong Designs. The hotel is decorated with Indian textiles.Designed by VenuJuneja from Goa. The 'weaving theme' features silk on one wall and canvas on the other.The signature restaurant, 'The Flying Elephant', is set on three levels, with six open show kitchens.The hotel is built on the land where Concorde Motors stood until 2007.In 2013, in the debut year of its opening, Park Hyatt Chennai was awarded 'The Best New Hotel of the Year' at the HICSA Hotels of the Year Awards 2013. Data Analysis Hypothesis H0: There is no significant relationship between women and maternity leave provided for women Table 1 Gender * Does Women Provided For Maternity Leave Does Women Provided For Maternity Leave? Strongly Agree Agree Neutral Disagree Strongly Disagree Male Gender Female Prefer Not To Say

Total

11

18

9

0

2

40

28

22

6

2

0

58

2

0

0

0

0

2

Total 41 40 15 2 2 100 Interpretation The above table 1 displays the maximum numbers of respondents are female that is 58 and 40 respondents are male and 2 respondents are not prefer to say their gender. Table 2 Symmetric Measures Interval by Interval

Pearson's R

Value Asymp. Std. Errora Approx. Tb Approx. Sig. -.258 .089 -2.645 .010c

Ordinal by Ordinal Spearman Correlation -.260

.095

-2.669

.009c

N of Valid Cases 100 Interpretation The above table 2 displays the relationship between women and maternity leave provided for women from the above table it is inferred that there is relationship between women and maternity leave provided since

300

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 the significant value is less than 0.05. Thus, the null hypothesis is rejected proving that there is significant relationship between two variables Hypothesis H0: There is no significant difference between gender and women can handle the work pressure in hotel industry Table 3 ANNOVA Women Can Handle The Work Pressure In Hotel Industry Sum of Squares DF Mean Square F Sig. Between Groups 3.915 2 1.958 3.779 .026 Within Groups

50.245

97 .518

Total 54.160 99 Interpretation From the above 3 table the significant value is less than 0.05 hence the null hypothesis is rejected. There is significant difference between gender and women can handle the work pressure in hotel industry. Hypothesis H0: There is no significant association between the genders and is the cab facility available to the women employees Table 4 Gender * Is the Cab Facility Avaliable to the Women Employees? Cross Tabulate Gender Yes No Total Male 28 12 40 Female 54 4 58 Prefer not to Say 2 0 2 Total 84 16 100 Interpretation The above table 4 displays the maximum numbers of respondents are female that is 58 and 40 respondents are male and 2 respondents are not prefer to say their gender. Table 5 Women can Do you feel that Do you agree that Can women Women handle the women and men are women have equal manage both overpower men work pressure being treated equally opportunity to the hotel work specifically in in hotel in case of salary in progress in hotels and home life hotel industry industry hotel industry Valid 100 100 100 100 100 N Missing 0 0 0 0 0 Mean 1.69 2.32 2.25 1.72 1.87 Interpretation From the above table 5 we can infer that most of the factors on women empowerment are positively viewed in the company as all have been agreed. Table 6 Women Are men and Does women Thus the hotel giving Women provided employees are women treated provided for proper security to with job security increasing in equally in hotel maternity the women in hotel industry? hotel industry? industry? leave? employees? Valid 100 100 100 100 100 N Missing 0 0 0 0 0 Mean 1.83 1.99 2.06 1.84 1.83 Interpretation From the above table 6 we can infer that most of the factors on women empowerment are positively viewed in the company as all have been agreed. Hence the women empowerment practices of the company are of high quality.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 III. FINDINGS 1) From the survey it is concluded that relationship between women and maternity leave provided for women from the above table it is inferred that there is relationship between women and maternity leave provided. 2) From the survey it is found that there is significant difference between gender and women can handle the work pressure in hotel industry. 3) From the research it is found that there is a significant association between the genders and is the cab facility available to the women employees. 4) From the survey we can infer that most of the factors on women empowerment are positively viewed in the company as all have been agreed. Hence the women empowerment practices of the company are of high quality. IV. SUGGESTION 1) If women ask for a sick leave, they should provide the leave without asking any questions. 2) Although it is a fact that both men and women earn same salary, women should carry less heavy stuff and concentrate more on their guest service. 3) Womenundergo many pressures in life both in house and at work than men. Management should take more initiative to give less pressure for women. 4) Management should avoid night duties for women employees 5) Management shouldtake necessary steps towards promotion and welfare of women employees. V. CONCLUSION Women have every right to be treated equally with men in every field. The empowerment of women would result in overall development of society and active participation of women in economic activities and decisions, would contribute towards overall economic development. The study found out the overall representation of women in managerial position is still low in the hotel industry through there has been a general increase in the number of women who participate in managerial positions. VI. REFERENCES 1) MeeraKenkarasseril Joseph, (2013) "Critical theory for women empowerment through ICT studies", Qualitative Research Journal, Vol. 13 Issue: 2, pp.163-177, https://doi.org/10.1108/QRJ-01-2013-0002 2) D. Arul Paramanandam, P Packirisamy, (2015) "An empirical study on the impact of micro enterprises on women empowerment", Journal of Enterprising Communities: People and Places in the Global Economy, Vol. 9 Issue: 4, pp.298-314, https://doi.org/10.1108/JEC-08-2014-0017 3) SimantiniMohapatra, Bimal Kishore Sahoo, (2016) "Determinants of participation in self-help-groups (SHG) and its impact on women empowerment", Indian Growth and Development Review, Vol. 9 Issue: 1, pp.53-78, https://doi.org/10.1108/IGDR-04-2015-0016 4) Susmita Chatterjee, Sangita Dutta Gupta, ParijatUpadhyay, (2018) "Empowering women and stimulating development at bottom of pyramid through micro-entrepreneurship", Management Decision,Vol. 56 Issue: 1, pp.160-174, https://doi.org/10.1108/MD-04-2017-0296 OTHER REFERENCE 1) https://en.wikipedia.org/wiki/Park_Hyatt_Chennai 2) https://www.emeraldinsight.com/action/doSearch?AllField=women+empowerment&content=articlesCha pters 3) https://www.researchgate.net/publication/23795416_Women_Empowerment_in_India 4) http://www.iipa.org.in/New%20Folder/8--Mamta.pdf

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

YOUNGSTERS AWARENESS TOWARDS INVESTING IN STOCK MARKET WITH RESPECT TO CHENNAI REGION V. VISVVESH Final year, Department of Accounting & Finance Ramakrishna Mission Vivekananda College, Evening College (Autonomous), Mylapore, Chennai- 600004 ABSTRACT The Stock Market is the market during which shares of in public held firms are issued and traded either through exchanges or over the counter markets. Also called the equity market the stock market is one amongst the foremost important parts of a free enterprise because it provides company with access to capital in exchange for giving investors a slice of possession in the company. The stock market makes it attainable to grow little initial sums of cash into massive ones, and to become affluent while not taking the danger of beginning a business or creating the sacrifices that usually accompany a high paying career. The stock exchange lets investors participate within the financial achievements of the businesses whose shares they hold. This study has been conducted by collecting responses through questionnaire from the people of Chennai district of Tamil Nadu. The responses have been obtained from 150 youngsters. The collected data has been analysed by using SPSS software where in chi square, correlation, frequency test & Anova has been used. Youngsters perception towards Investing in stock Market and their awareness about stock market and to provide suggestions for the youngsters to gain awareness and provide an idea of investment option available for them. Key Words: Stock Market ,Shares & Capital . I. INTRODUCTION Stock market is a vital a part of the economy of a country. The stock exchange plays a play a crucial role within the growth of the trade and commerce of the country that eventually affects the economy of the country to a good extent. that's reason that the government, business and even the central banks of the country keep an in depth watch on the happenings of the stock exchange. The stock exchange is vital from each the industry’s purpose of view as well because the investor’s purpose of read. Whenever a corporation needs to boost funds for more enlargement or settling up a replacement business venture, they need to either take a loan from a institution or they need to issue shares through the stock exchange. actually the stock exchange is that the primary supply for any company to boost funds for business expansions. If a corporation needs to boost some capital for the business it will issue shares of the corporate that's primarily half possession of the corporate. To issue shares for the investors to speculate within the stocks a corporation must get listed to a stocks exchange and thru the first market of the exchange they'll issue the shares and acquire the funds for business necessities. There area unit bound rules and laws for obtaining listed at a exchange and that they have to be compelled to fulfill some criteria to issue stocks and go public. The stock exchange is primarily the place wherever these firms get listed to issue the shares and lift the fund. Just in case of Associate in Nursing already listed public company, they issue a lot of shares to the marketplace for assembling a lot of funds for business growth. For the businesses that area unit going public for the primary time, they have to start out with the Initial Public providing or the commerce. In each the cases these firms ought to bear the stock exchange. II. OBJECTIVES 1. To find out the level of awareness about stock market amongst the youngsters 2. To determine the association of income level and age with Factors determining the investment Sample Design 150 responses have been collected by convenience sampling method. Tools Used The data collected was analyzed by SPSS software-16. Frequency, mean, chi-square, Anova, correlation and regression have been used. Hypothesis 1. H01: There is no association between Gender and awareness of Stock market 2. H02: There is no association between Occupation and awareness of Stock Market. 3. H03: There is an association between Income and Factors determining investment. Review of Literature KartikeyKoti (2014) “Investors Preference towards Stock Market and Other Investment Options” He examined Investors who have invested their funds in various Investment Avenue. A sample of 100 investors were interviewed through questionnaire using excel. Although there square measure quite a smart variety of investors within the exchange, nevertheless their proportion of investment available market is extremely less. Most of the stock market investors of this Hubli region recognize additional concerning equity market than any different choices in stock market several investors Who detest to invest in stock market believe risk to be the major cause for their non-investment in exchange. Investment pattern rely on the education level, financial gain and savings level. 303

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

SudarshanKadariya (2012) “Investor awareness and Investment Equity in Nepalese Capital Market” The study was conducted by collecting responses from 100 investors. In this study investor awareness and its relationship with the investment selections in equity and investors access to plug data were examined. He considers capitalist awareness is crucial for the investment deciding and sustainable growth of capital market .The results of the study portrayed that equity investors are aware and their level of awareness is high compared to desired level .Investors are keen to induce market data timely and sufficiently to create a profitable investment . Nepalese Capital market is characterised with restricted source of information. Zhifang HE et al (2014) “Characteristics of Investor’s Risk preference for Stock Market “ The investors become risk antipathetically once they gain and risk seeking when they lose, that effectively explains the inconsistent risk-return relationship. And with the various distribution of the error item within the DGARCH-M model, there also are variations between the extents of risk aversion in gains which of risk-seeking in losses. Considering the influence of the magnitude of gains/losses on the danger preference, we discover the degree of investors’ risk aversion and risk seeking is in direct proportion to the worth of gains and losses severally. What’s more, for identical size of gains and losses, the extent of risk seeking with losses is greater than that of risk aversion with gains. Data Analysis & Interpretation Gender and awareness levels: H0 : Age = Awareness level of the youngsters H1: Age ≠ Awareness level of the youngsters Table 1 Group Statistics Gender N Mean Std. Deviation Std. Error Mean Male 104 2.90 .477 .047 Female 46 3.03

Particulars Equal variances assumed

.505 .074 Table 2 T-test F Sig. T df Sig. (2-tailed) .004 .949 -1.612 148 .109

Equal variances not assumed -1.577 81.989 .119 Interpretation The above Independent sample t test indicates that the Null Hypothesis should be accepted. It implies that there is no significant difference in the Awareness of the people in Stock market with respect to Male (M = 2.90, SD = 0.477) and Female (M = 3.03, SD = 505). T test statistic where t(148) = -1.612, P = 0.109. These results suggest that the Awareness between male and female doesn’t significantly differ. It denotes that the awareness level of a personnel does depend upon the gender . Occupation and Awareness Levels H0 : Occupation = Awareness level of the youngsters H1 : Occupation ≠ Awareness level of the youngsters Table 3 Awareness Level Occupation Student

N Mean Std. Deviation Std. Error 94 2.83 .524 .054

Professional course pursuer

18 3.27 .238

.056

Working, Professional & self employed 36 3.02 .394

.066

Unemployed

.000

Total

2

3.40 .000

150 2.94 .488 .040 Table 4 ANOVA Particulars Sum of Squares DF Mean Square F Sig. Between Groups 3.642 3 1.214 5.562 .001 Within Groups

31.873

146

Total

35.516

149

304

.218

Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 From the table and 4, Anova test indicates that the Null Hypothesis should not be accepted. It implies that there is significant difference in the Awareness of the people in Stock market with respect to occupation. The above results suggest that the Awareness level between Occupation of the respondent significantly differ. It denotes that the awareness level doesn’t depend upon the occupation of a person . Income Level and Factors Determining an Investment (Chi - Square) H0: Income level = Factors determining an investment H1: Income level ≠ Factors determining an investment Table 5 Test Statistics Company's Income Higher Risk More Higher Reputation, Level Return Tolerance Security Liquidity Performance and Profitability Chi117.600a 160.800a 93.867a 116.533a 19.360b 89.680c Square DF

4

4

4

4

2

3

Asymp. .000 .000 .000 .000 .000 .000 Sig. Interpretation From the table #5 chi-square test has been conducted between Income level and factors determining investment the significance value is lesser than 0.05 in all the cases .Hence the alternative hypothesis is accepted. Income = Factors of investment is accepted .It is inferred that there is an association between Income level of respondents and the factors determining their investment like Higher return, Risk tolerance , more security ,Higher liquidity and company’s reputation, performance and profitability . III. FINDINGS 1) Sample T-test was conducted between awareness level and gender of the respondents It was found that there is no significant difference in the Awareness of the people in Stock market with respect to Male (M = 2.90, SD = 0.477) and Female (M = 3.03, SD = 505). These results suggest that the Awareness between male and female doesn’t significantly differ. 2) ANOVA test was conducted between occupation of the youngster and the factors determining their investment .It was found that there is significant difference in the Awareness of the people in Stock market with respect to their occupation. The results suggest that the Awareness level between Occupation of the respondent significantly differ. It denotes that the awareness level doesn’t depend upon the occupation of a person . 3) Chi-square test has been conducted between Income level and factors determining investment the significance value is lesser than 0.05 in all the cases .Hence the alternative hypothesis is accepted . Income = Factors of investment is accepted .It is inferred that there is an association between Income level of respondents and the factors determining their investment like Higher return, Risk tolerance , more security, Higher liquidity and company’s reputation, performance and profitability. IV. SUGGESTIONS 1) There are many respondents who are not aware of stock market, they must first know that stocks have a greater potential growth rather than any other investment alternative, stock rightly invested may turn a small investment into a great empire. Thus they must opt stocks rather than prioritising other investments. 2) The awareness levels can be increased only if initiatives are taken from education institutions and parents side. The students must be made aware of the investment option. 3) For working personnel the management should take initiative in organising workshops and conferences regarding the investment options available for the employees. V. CONCLUSION The youngsters are partially aware of the investments options available for them . Although they are aware of the stock market yet many are not willing to invest. The major Factors determining their investment in stock market are Higher return, Risk tolerance , more security ,Higher liquidity and company’s reputation, performance and profitability and these factors are associated with their respective age, occupation and income level . Investors mostly come to know about stock market through family and education . The Indian Stock market has a wide scope for improvement thus the youngsters must be made aware of the stock market which would ultimately lead to growth of the self and company’s which would automatically lead to growth in the nation .The measures must be taken in order to provide awareness to the youngsters.

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VI. REFERENCES 1. KartikeyKoti (2014)Investors Preference towards Stock Market and Other Investment Options retrieved from http://www.ijrmbss.com/assets/pdf/Vol2Iss1/1.pdf 2. SudarshanKadariya (2012) Investor Awareness and Investment on Equity in Nepalese Capital Market retrieved from:https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2849932 3. Zhifang HE et al (2014) Characteristics of investor’s risk preference for stock markets. retrieved from:http://or.nsfc.gov.cn/bitstream/00001903-5/358206/1/1000008789369.pdf 4. Economic Forces and the Stock Market. Retrieved from: https://www.jstor.org/stable/2352710?seq=1#page_scan_tab_contents 5. The impact of investors’ sentiment on the equity market: Evidence from Indian stock market. Retrieved from: https://academicjournals.org/journal/AJBM/article-abstract/DBB755E24611

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AWARENESS IN THE MINDS OF PEOPLE ABOUT HEALTH INSURANCE WITH SPECIAL REFERENCE TO CHENNAI CITY P. VENKATANAATHAN Final year, Depts. of AF & BM, RKM Vivekananda College, Mylapore, Chennai – 04, ABSTRACT Health Insurance plays a vital role in everyone’s life. Future is Uncertain, every individual should take care of their Healthcare needs. So availing of Health Insurance becomes a good thing before arriving at a bad situation. The expenses in the hospital are in inflationary mode. The general public should be made aware of Health Insurance in order to avoid future uncertainties. The expenditure in the private hospitals is not affordable by a man of Average Income class. There are variety of Health Insurance plans which offers several benefits to the policyholders. The main aim of this research paper is to find out the awareness about Health Insurance in the minds of people in Chennai city. The study also identified the factors which the people consider before availing an Health Insurance. Keywords: Health Insurance, Awareness, Factors, hospitals, Chennai city. I. INTRODUCTION Insurance may be described as a social device to reduce or eliminate risk of life and property. Under the plan of insurance, a large number of people associate themselves by sharing risk, attached to individual insurance plan that exclusively covers healthcare cost and is called Health Insurance. It is contract between an insurance company and an individual or his sponsor. The contract can be renewable annually or monthly. The type and amount of health care costs that will be covered by the health insurance company are specified in advance in the “Evidence of coverage” booklet. Review of Earlier Studies K. Selva Kumar and Dr. S. Vijay Kumar (2013) “Attitude of policy holders in the direction of administration of general insurance companies with orientation to Madurai region” The study reveals that 23% policy holders belongs to low level of attitude, 46% to medium level of attitude and 31% to high level of attitude. There is an important relationship between ages, sex, education, and marital status, type of family, community and level of their attitude headed for administration of services of public sector general insurance companies holds good. R. Amsaveni and S. Gomathi (2013) made an attempt to find out mediclaim policy holder satisfaction, to recognize the reason for preferring mediclaim policy to safe guard themselves and stay away from future risk, majority of the respondents have taken personal scheme to employees. The major problems faced by the respondents are lack of timely communication and limited list of hospitals covered by the health insurance providers. J. Jaypradha (2012)“Problems and prospects of health insurance in India” highlighted that the health insurance sector in India has registered 30% growth rate in 2008-09. The penetration of health insurance in India had risen to 4.8%, in 2008 from 1.2% in 1999-2000. The average medical expenditure of an Indian household is 6.7% of the annual income. Ravikant Sharma (2011) “A Comparison of Health Insurance Segment- India vs. China” seeks to compare both the economies India and China on health insurance aspect. Both economies have huge potential of health insurance and 45% of world’s population lives in both the countries. P. Jain et al., (2010) in this paper, “Problems faced by the Health Insurance Policyholders of Different Public and Private Health Insurance Companies for Settlements of their Claims” Measure the problem faced by customers. The objectives were to study reason for refusal of claim, satisfaction level of customer and problems faced by them in getting their claim. Ramesh Bhat and Falan Reuben (2001) in this article, “Analysis of claim and reimbursements made under mediclaim policy of general insurance corporation of India” analyses 621 claims and reimbursements data relating to policy beginning year 1997-98 and 1998-99 of Ahmadabad. They found that number of policies and premium collected have grown 30% during 1998- 00 and 50% during 1999-2000. II. OBJECTIVE OF THE STUDY • To find the awareness regarding Health Insurance and its source of information. • To know the reasons for opting Health Insurance as well as to assess their determinants of awareness of Health Insurance.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Scope of the Study • The scope of this project is to ascertain the awareness in the minds of people and give the basic idea about health insurance for those who do not know. • This study collects the data from the various people in particular to Chennai city and obtains the result so any suggestions can be made for the development in the Health Insurance sector. Research Methodology A study was conducted in particular to Chennai city which is enormous in size, so it is easily predictable. A simple questionnaire was constructed and circulated via, Google forms. A total number of 100 response were received. Those respondents were classified into Age, Educational Qualification, Occupation, Socioeconomic Status and Types of Family. Here in this section the collected data was put into a Statistical and Analytical Software called Statistical Package for Social Sciences (SPSS). The tools used are Mean, Chi-Square test, Anova table. Chi square test Ho: There is no association between Availing of Health Insurance and Satisfaction of their Policies. H1: There is associationbetween Availing of Health Insurance and Satisfaction of their Policies. Table # 1 Chi-Square Tests on availing any Health Insurance Policy and satisfaction with Health Insurance Policy Value

Df Asymp. Sig. (2-sided)

Pearson Chi-Square

13.242a

1

.000

Continuity Correction

11.589

1

.001

Likelihood Ratio

13.263

1

.000

13.110

1

.000

Fisher's Exact Test Linear-by-Linear Association

Exact Sig. Exact Sig. (2-sided) (1-sided)

.000

N of Valid Cases Source – Primary data

.000

100

InterpretationFrom this above Table #1 the probability value is 0.000 (p > 0.05), the null hypothesis is rejected and conclude that the persons who have taken a Health Insurance policy are satisfied with their policy. Table #2 Descriptive Statistics Descriptive Statistics Your Age

N Minimum Maximum Mean Std. Deviation 100 1 4 1.72 1.036

Your Gender

100

1

2

1.37

0.485

Socioeconomic Status

95

1

5

2.83

1.541

Occupation

100

1

7

5.40

2.118

Educational Qualification 100

1

5

4.38

1.135

Type of Family 100 1 2 1.59 0.494 Interpretation The above Table #2 says the value of Occupation is 2.118 which is the highest and the Gender which has the value of 0.485 is the lowest. The value of Age is 1.036. The value of Socioeconomic status is 1.541. and at last the value of type of family is 0.494. One way Anova Ho: There is no difference between the Customer service and Availing of Health Insurance H1: There is difference between theCustomer service and Availing of Health Insurance

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table # 3 Sum of Squares 2.326

Df 4

Mean Square .571

Within Groups

81.384

95

.857

Total

83.710

99

Between Groups

F .679

Sig. .608

Interpretation The Table #3 above shows that the value F and its significant value. It is clear from the table that thesignificant value is 0.608 (P>0.05) the null hypothesis is accepted. That is people don’t considerthe customer service as the factor for purchasing a Health Insurance policy. ANOVA Ho: There is no difference between the process time and Availing of Health Insurance H1: There is difference between the process time and Availing of Health Insurance Table # 4 Anova for process time and Availing of Health Insurance Between Groups Within Groups

Sum of Squares 1.807 81.903

Df 3

Mean Square .602

96

.853

F

Sig. .706

.551

Total 83.710 99 Source – Primary data Interpretation The table # 4 shows the Anova for process time and Availing of Health Insurance. From the abovetable we can see the significant value less than the table value (0.05 < 0.55). Hence, the null hypothesis is accepted. Which means that there is no difference between the process time and Availing of Health Insurance. III. FINDINGS OF THE STUDY  The people who have availed a Health Insurance policy are maximum satisfied with their policy.  The customer satisfaction is not major a factor which is influencing to avail Health Insurance.  The process time has no influence with availing of Health Insurance policy. IV. SUGGESTION  The policyholders should be intimated with the list of hospitalsnearby them.  An alert message should be sent to the policyholders in frequent intervals.  An Awareness program should be made right from their schooling.  Policyholder should be treated in Hospitals with less paperwork.  In case of claim settlement should be done at the earliest. V. CONCLUSION This paper makes an attempt to understand the awareness, preference with some factors influencing Health insurance plan.The result of this study shows that the annual premium is the most important factor that influences the decision or choice of health Insurance plan. This means that households having higher income have higher probability of buying healthcare plan. Thus, less income groups may not opt for health insurance plan. Thus there is a need to develop more products that cater to need of larger and all levels of income groups. Apart from annual premium, hospital network and disease coverage or coverage of services hold importance in making choice of healthcare plan. Thus, insurance company should provide larger network of hospitals and services in their plans in order to satisfy their customer fully. Accessibility of service provider and company reputation also moderately influence the decisions. The decision made for choosing the plan is mainly influenced by self-perceptions. Family and relatives and past experience hold second position for assisting in the choice of plan. Most people would prefer to buy healthcare plan from private insurance companies for they provide better services and innovative products. Thus, there is large scope for private insurance companies to grow.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 VI. REFERENCE 1. K. Selva Kumar and Dr. S. Vijay Kumar (2013) “Attitude of policy holders in the direction of administration of general insurance companies with orientation to Madurai region” 2. Ravikant Sharma (2011) “Problems and prospects of health insurance in India” 3. J. Jaypradha (2012)“A Comparison of Health Insurance Segment- India vs. China” 4. Awareness of Health Insurance and its related issues inRural Areas of Jamnagar District (National Journal of Communal Medicine, June 2013) 5. Awareness of Health Insurance in a South Indian Population – A Community - Based Study 6. Awareness on Health Insurance among an Urban Community in Imphal: A Cross Sectional Study 7. Tamira Shukla and Preethi Singh - Penetration of Health Insurance in India: Reality or Mirage? In RJBM January - 2018

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CONSUMER AWARENESS OF GREEN PRODUCTS IN CHENNAI CITY N. KARTHIK BABU Final Year, Department of Accounting & Finance, Ramakrishna Mission Vivekananda College Evening College (Autonomous), ABSTRACT Consumers today are increasingly “thinking green” and are ready to pay extra for eco-friendlygoods. Green product is a term that describes a product that protects the environment and replaces non-natural ingredients with natural ingredients. Green goods are also called Eco friendly goods. Green products are less damaging to human health and they conserve energy. Some of these going green products when in use, help conserve power, minimize carbon footprint or the emission of greenhouse gases, and does not lead to high toxicity levels or pollution to the environment.Consumers have different buying characteristics’ and these characteristics are constantly changing as a result of the availability of better alternatives. Therefore, the present study is conducted to discover the extent of the impact of customers’ buying characteristics towards green products in Chennai city. The results of the study confirmed that a person who has some concern for the environment would have a stronger preference in purchasing a green product. Key Words: Consumers' Awareness, Green Products, Chennai City I. INTRODUCTION James Thurber says“Let us not look back in anger, nor forward in fear, but around in awareness”. The consumer should not get anger or scared while they are cheated, instead of getting angry or scared, they must be aware of what is happening around them. Consumer awareness refers to the awareness of the consumption of goods formed by consumers in the long-term shopping environment and purchasing activities. Recently consumers' awareness has become more complex. “One of the first conditions of happiness is that the link between man and nature shall not be broken.”- Leo Tolstoy. According to Leo Tolstoy, happiness depends upon the attachment between man and nature. Consumption of green products ensure living in harmony with our environment which in turn save ourenvironment. Consumers are becoming more interested in environmentally friendly products, raising the demand against a limited supply. The limited supply may be associated to the lack of clear understanding among Chennai marketers on consumer’s attitudes and behaviour towards this emerging phenomenon. The success of producing eco friendly products will depend on whether consumers will accept the products or not. Hence this study was undertaken with the objective of getting insight over consumer awareness on green products. Before the study is conducted some of the previous study conducted on similar topics was studied in order to get a better idea on how to perform the study. Some of the important studies are presented in the following section. Review of Literature Eva Gonzalez(2012) says that the reason behind consumer from attitude and mere intention of using green products to actual usage depends upon their personal behavior, character, principles, their social behavior, economic status, cultural values and practices. Chang et al., (2010) conducted a survey regarding green products in which he segregated customer into two - green and non-green product users , where he found that green consumers gets loyalty and satisfaction only through green products and green companies. Mostafa (2007), says that green purchase behavior refers to the consumption of products that are beneficial to the environment, recyclable or conservable and sensitive or responsive to ecological concerns. It reduces environmental damage and creates a healthy environment for future generations. D’Souza et al., (2006) says that green products are directly associated with the price and quality of the green products. If price of green product is more and its quality is bad then nobody will prefer to buy it and if vice versa happens then green products will be preferred by large groups. Nazanin Shabani (2013)specifies that producers should convey their production process and its effect on nature and environment, the damages and effect of such damages in long term to consumers. He feels that this will develop a bonding between producers and consumers which will help consumers under the situation and act conservatively. Baumannet et. al., (2007) talks about both green marketing and conventional marketing .where he says that green marketing should be promoted instead of labelling. Some suggestions given by him are reaching target customers, increasing the customer base, positioning the price strategies and market creation. Ottman(2008)quoted in his book that “the power of green lies in marketer’s hand”. It was not engineers, lawyers or legislators that had the most power to clean up the environment. The creative folks who have the power to design and promote cleaner product and technologies and help consumers evolve to more sustainable lifestyle.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Research Gap From the extension review of literature, it was found that studies on consumer awareness of green products in Chennai city are scarce. More over limited studies are there studying about attitude towards the environment, social influence and purchase intention. Hence this study was conducted to fill this gap. Significance of the Study This study examines the relationship between consumer awareness and attitude towards the environment, social influence and purchase intention. Hence this study can be significant for the organization as they can use the results of the study to frame policies and formulate strategies. The outcome of this study can also be utilized for evaluating consumer awareness on various aspects of green products. This study will be significant and beneficial to consumer in terms of knowing the green products capabilities, especially the product targeted to green consumers .This study will assist business firms to better understanding the buying behavior of green consumer. II. OBJECTIVES OF THE STUDY The following are the objective of the study  To identify the green products that are frequently purchased by the consumers  To study the consumer behavior towards purchase of green products.  To know the consumers preference towards type of green products Research Methodology. Core intention of this study is to find out the consumer awareness and purchasing behavior of the green products in Chennai city.The data has been collected with the help of a well structured questionnaire. The data has been collected in the month of January 2019.100 questionnaires were distributed and collected from the consumers in Chennai city. The data collected from the respondents was tested with suitable statistical techniques. Demographic background of respondents and customer awareness of the green products were analyzed by ANOVA, Correlation Analysis, Regression Analysis, Independent Sample T Test, Mean, Standard deviation. Result and Discussion There are so many factors influence the consumer awareness. Through the review of literature it is understood the following factors influence consumer awareness.  Attitude towards environment  Social influence  Purchase Intention To understand the influence of these factor more, multiple regression analysis was conducted. The proposed conceptual framework is illustrated in Figure 1 Figure 1 Conceptual Framework

The following research hypotheses were framed to assess the relationship. H1o: There is no significant relationship between Attitude towards Environment and Consumer Awareness. H1a: There is significant relationship between Attitude towards Environment and Consumer Awareness. H2o: There is no significant relationship between Social Influence and Consumer Awareness. H2a: There is significant relationship between Social Influence and Consumer Awareness. H3o: There is no significant relationship between Purchase Intention and Consumer Awareness. H3a: There is significant relationship between Purchase Intention and Consumer Awareness.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Before conducting regression analysis it is necessary to check whether the factors are correlated. The analysis revealed that all the independent variables are significantly correlated with dependent variable consumer awareness. The results of the Multiple Regression Analysis is presented in Table 1 Table 1 Multiple Regression Analysis Unstandardized Standardized Coefficients Coefficients Model B Std. Error Beta Sig. 1 (Constant) 2.991 .480 .000 Attitude Toward .038 .198 .023 .848 Environment Social Influence .294 .226 .164 .195 Purchase -.308 .220 -.180 .164 Intention Source: Developed for the study The general regression equation is: Y = α + β₁x₁ + β₂x₂ By using the above mentioned equation, the equation of the model employed in this study can be written as: CA = 2.991 + 0.038 ATE + .294 SI -.308 PI Where CA stands for Consumer Awareness, ATE stands for Attitude towards Environment, SI stands for Social Influence, PI stands for Purchase intention. III. FINDINGS OF THE STUDY From the analysis and its interpretation, the following has been found about that awareness of green products.  Most of the respondents belong to the age groups 18-25 years.  The level of awareness of green products is quite high among the respondents.  The awareness level of the benefits of green products for the environment is also very high among the respondents.  Respondentsare willing to pay even extra price for purchasing green products.  The factors attitude towards environment, social influence and purchase intention influence consumer behavior. Limitations of the Study  Due to time constraints and limited resources, the sampling frame for this study was limited to 100 respondents  The study is restricted to Chennai city only and the result may not be applicable to other places.  Only three factors namely attitude towards environment, social influence and purchase intension were studied. IV. CONCLUSIONS Awareness of green products is the strongest factor that has positively influenced consumers purchasing decision. This study confirmed that a person who has some concern for the environment would have a stronger preference in purchasing a green product. Attractive green product message contents should be aggressively developed that would stimulate interest among the Young Generation. Environmental problems like global warming, ozone layer depletion, acid rain, pollution of land, air and water can be reduced only when the human beings show genuine concern for the environment. Green products, green marketing, greener technologies are sure shot ways to save the environment. V. REFERENCES 1. Chang, N. & Fong, C. (2010). Green Products Quality, Green Corporate Image, Green Customer Satisfaction and Green Customer Loyalty. African Journal of Business Management, 4, pp. 2836 – 2844 2. Chang, N. & Fong, C. (2010). Green Products Quality, Green Corporate Image, Green Customer Satisfaction and Green Customer Loyalty. African Journal of Business Management, 4, pp. 2836 – 2844 3. Eva González, (2012) “Purchase Behaviour of the Consumers towards Green Products Imperial Journal of Interdisciplinary Research” (IJIR) Vol-2, Issue-9, 2016 ISSN: 2454-1362, 4. Indumathi.V.M S.D.Sivakumar, N.Raveendaran, P.Balaji- consumer buying behaviour of processsed spice products- indian journal of marketing august(2007).PP 52-55. 5. Jason, moral, and Nordlund (2010) “Purchase Behaviour of the Consumers towards Green Products Imperial Journal of Interdisciplinary Research” (IJIR) Vol-2, Issue-9, 2016 ISSN: 2454-1362,

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AWARENESSAND PERCEPTION OF USAGE OF PLASTIC BAGS A STUDY WITH SPECIAL REFERENCE TO CHENNAI CITY V.VIJAY SUNDAR Final year, Depts. of AF & BM, RKM Vivekananda (Evening) College (Autonomous), Mylapore, Chennai – 04, ABSTRACT Plastic bag users are at risk of number of health hazards. There is lack of data with regards to awareness of health hazards among general populations in India. This study was done to find out the status of awareness of the health hazards associated with the usage of plastic bags among people and their perception towards the plastic ban in Tamil Nadu which was implemented on 01.01.2019. Keywords: Health Hazards, Plastic bags, Awareness, Perception, Legislation. I. INTRODUCTION The reasons for popularity for using the plastic bags are light weight, resistance to degradation (by chemicals, sunlight and bacteria), durability and above all low cost. While these conveniences are benefitting individual users, the problems and the cost of disposal of plastic items would burden the entire society. After their entry to environment, plastics take anywhere from 15 to 1000 years to biodegrade. It poses a risk to human health and environment. In addition to problems like choking the drains, the littered plastic bags are breeding ground for mosquitoes when rain water gets collected in them. This could worsen the situation of malaria in a highly endemic area like Chennai city.On 1st January 2019, Tamil Nadu Government enforced ban on single use plastic products including plastic bags. The Tamil Nadu Pollution Control Board (TNPCB) has listed 14 plastic products to be banned, including plates, cups, plastic bags, plastic packaging material, etc. The government has identified a list of 12 eco-friendly alternatives, including cloth bags, glass containers, paper plates and cups, and banana leaves. Review of Earlier Studies Naryan and Priya (2001) “Analyzing plastic waste management in India: case study of polybags and pet bottles”. They revealed that despite adequate enforcement the recycling rule has not been able to address the littering problem because these policies primarily encourage recycling and this does not produce the same benefits as waste prevention. Dr. TuongThi Hoi (2002) “Plastic Industry Environmental Review”. He analyzed 4 plastic manufacturing companies impact on environment, their policies and target, standards of emission, waste water, etc. in his study. The research assesses the significant environmental impacts associated with plastic manufacturing in Ho Chi Min city Vietnam, June 2002. Adam Akullian et al, (2006) “Plastic Bag Externalities and Policy in Rhode Island”. They discuss about the evolution of Rhode Island plastic bag legislation and the Future of plastic bag regulation in that island in this research. And also, this research discusses the flaws in those regulations. They also suggest the alternative policy options. Elaine Ritch et al, (2009) “Plastic bag politics: modifying consumer behavior for sustainable development”. They dealt with the adverse environmental impacts of plastic bags, including production energy costs, limited lifespan, increasing landfill content and inability to biodegrade, provide symbolic and practical evidence of a „throwaway‟ consumer culture which acts as a significant barrier to sustainable consumption in particular and sustainable development in general. Shahariah Asmuni et al, (2014) “Public Participation and Effectiveness of the No Plastic Bag Day Program in Malaysia”. They found 47.7% of consumers paid for the levy in exchange for the plastic bag that they need for carrying their purchases. The analysis of the suggested regulative mechanisms indicates that they would not be effective. II. OBJECTIVE AND LIMITATION OF THE STUDY (a) Objective of the Study  To find the level of awareness of the health hazards caused by the usage of plastic bags.  To study the perception of public towards the legislation prohibiting the usage of plastic bags. (b)Limitation of the Study  The research is confined to some specific region of the city and does not necessarily show a pattern applicable to all of the city.  Any suggestions given by analyzing the data collected may not be accurate for other locations as people requirements and expectations differ from one place to another. Research Methodology The primary or the first hand data was collected with the help of handing out the questionnaire to the public. Convenience Sampling was used to obtain data by administrating questionnaire through Google form (Sample of 200 was collected). Interpretation of data was based on the classification of the respondents like age. Frequency analysis, Mean analysis, ANOVA and Correlation are the statistical tools used.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table # 1 Frequency Analysis Gender Frequency Male 125 Female 75 Total 200 Age Group Frequency Below 20 yrs 68 21-30 yrs 76 31-40 yrs 23 41-50 yrs 28 Above 50 yrs 5 Total 200 Educational Qualification Frequency HSC 51 Diploma 9 Graduate 84 Post-Graduate 33 Professional 23 Total 200 Occupational Status Frequency Student 105 Skilled worker 18 Semi or un skilled worker 12 House wife 31 Semiprofessional/professional 34 Total 200 Source : Primary data

Percentage ( % ) 62.5 37.5 100 Percentage ( % ) 34.0 38.0 11.5 14.0 2.5 100 Percentage ( % ) 25.5 4.5 42.0 16.5 11.5 100 Percentage ( % ) 52.5 9.0 6.0 15.5 17.0 100.0

Interpretation The Table # 1 shows the Frequency analysis of Gender, Age group, Educational qualification and Occupational status of the respondents. From the above table it is inferred that 62.5 % of respondents are male and 37.5 % of respondents are female.34 % of respondents belongs to below 20 years age category, 38 % of respondents belongs to 21-30 years age category, 11.5 % of respondents belongs to 31-40 years age category, 14 % of respondents belongs to 41-50 years age category and 2.5 % of respondents belongs to above 50 years age category. 25.5 % of respondents have completed their HSC, 4.5 % respondents have completed their Diploma, 42 % respondents are Graduates, 16.5 % of respondents are Post-graduates and 11.5 % are Professionals in their educational field. 105 respondents are Students ,18 respondents are Skilled workers, 12 respondents are Semi/un skilled workers, 31 respondents are House wives and 34 respondents are professionals. Table # 2 Awareness on Plastic Bag Ban Implementation Percentage( Response Frequency %) Yes 191 95.5 No 9 Total 200 Source: Primary Data

4.5 100.0

Interpretation The table # 2 shows the awareness level on plastic bag ban. It is clear from the above table that majority of the respondent are aware of the plastic bag ban implemented by our government which is 191 candidates (95.5%) and the rest are not aware which is 9 candidates (4.5%). Support

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table # 3 Correlation between Public Awareness on Health Hazards caused by Plastic Bags and Public support towards Plastic Bag Ban Asymp. Std. Approx. Approx. Value Errora Tb Sig. Interval by .546 .071 9.173 Pearson's R .000c Interval Ordinal by Ordinal

Spearman Correlation

N of Valid Cases Source: Primary Data

.530

.058

8.785

.000c

200

Hypothesis H0 : There is no relationship between Public Awareness on Health Hazards caused by Plastic Bags and Public support towards Plastic Bag Ban H1: There is a relationship between Public Awareness on Health Hazards caused by Plastic Bags and Public support towards Plastic Bag Ban Interpretation The table # 3 shows the correlation between Public Awareness on Health Hazards caused by Plastic Bags and Public support towards Plastic Bag Ban. From the above table it is clear that the significant value is less than the correlation value (0.00< 0.05), which is highly significant positive correlation indicating that we can accept H1 and reject H0. This means that there is a relationship between Public Awareness on Health Hazards caused by Plastic Bags and Public support towards Plastic Bag Ban. Table # 4 Mean Analysis Statements Mean Awareness of Health hazards caused by Plastic bags Usage 4.12 Public support of plastic ban 3.97 Bring own bags for shopping 4.07 Reuse the plastic bags 3.84 Harm caused by plastic bags used for food packing 4.04 Bringing own vessels for packing the food bought 3.95 Source: Primary data Interpretation The Table #4 shows the mean value for Awareness of Health hazards caused by Plastic bags Usage, Public support of plastic ban, bring own bags for shopping, reuse the plastic bags, Harm caused by plastic bags used for food packing and Bringing own vessels for packing the food bought. From the above table we can identify that majority of the respondents agree that they are in favor of the plastic ban and also ware of health hazards caused by plastic bag ban. Majority of the respondents agree that they reuse the plastic bag and also, they bring their own bags for shopping. Most of the respondents agree that they are aware of harm caused by plastic bag in food packing and they also agree to bring own vessels to contain the food bought. Table # 5 ANOVA Harm caused by plastic bags used for packing and Educational Status Sum of Mean Df F Sig. Squares Square Between 9.101 4 2.275 2.587 .038 Groups Within 171.494 195 .879 Groups Total 180.595 199 Source: Primary data Hypothesis HO: There is no difference between Harm caused by plastic bags used for packing and Educational Status of the respondents H1:There is difference between Harm caused by plastic bags used for packing and Educational Status of the respondents

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Interpretation The Table #5 shows the ANOVA between Harm caused by plastic bags used for packing and Educational Status of the respondents. The significant value is less than ANOVA value(0.038< 0.05) and so accept H1. This means that there is difference between “Harm caused by plastic bags used for packing and Educational Status”. III. FINDINGS  Majority of the respondents were in the age group 21-30 which is 38 percentage, followed by age group below 20 which is 34 percentage. As the majority of participants were college students and post graduates.  The awareness on plastic ban implementation is 95.5% which is nearly 100 percentage which shows that participants are totally aware about their surroundings and legislation.  Even though people are aware of harm on use of plastic bags still they tend to ask extra plastic bags during shopping as they feel comfortable shopping with plastic bags. Supermarkets and Malls provide these extra bags but for charges.  The majority of participants are in favor of the plastic bag ban expect 11 percentage of disagreement which is likely to me influenced by house wives as they fell confortable using plastic bags on their day to day life.  Awareness of harm caused by plastic bag usage does not depend upon the educational status of the people. People with lower educational status (HSC) can also have awareness like a professional. IV. SUGGESTIONS  Awareness campaign should be conducted by the government and also the benefit on usage of alternative for plastic bags should be explained.  Government shall use its influence in media not only to convey the ban on plastic bags but also to show the impacts on usage of plastic bags and harm caused to the environments as well as to people.  Educational Institutions shall make their students study about the plastic pollution which is also a greater threat to the future generation and ours too. V. CONCLUSION Majority of the participants are aware of the health hazards caused by the usage of plastic bags. Public are aware about the ban and people are also in favor of the plastic bag ban implemented by Tamil Nadu government.Practices with respect to usage of alternative bags or reuse of already used bags were found commonly among most of the respondents. So, I conclude that the public are aware about the plastic bag ban and the impact of the same seems to be quite substantial. VI. REFERENCE 1. Dr. TuongThi Hoi (2002) “Plastic Industry Environmental Review”. 2. Naryan and Priya (2001) “Analyzing plastic waste management in India: case study of polybags and pet bottles”. 3. Sheila Killian (2004) “Revenue services and environmental taxes: a comparative study of the Irish and South African approaches to a levy on plastic bags”. 4. Adam Akullian et al, (2006) “Plastic Bag Externalities and Policy in Rhode Island”. 5. Elaine Ritch et al, (2009) “Plastic bag politics: modifying consumer behavior for sustainable development”. 6. Jennifer Clapp & Linda Swanston (2009) “Doing away with plastic shopping bags: international patterns of norm emergence and policy implementation, environmental politics”. 7. Kanupriya Gupta (2011) “Consumer Responses to Incentives to Reduce Plastic Bag Use: Evidence from a Field Experiment in Urban India”. 8. ShahariahAsmuni et al, (2014) “Public Participation and Effectiveness of the No Plastic Bag Day Program in Malaysia”. 9.

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CONSUMER BEHAVIOUR TOWARDS BRANDED READY-TOEAT FOOD PRODUCTS IN CHENNAI K.S. LAKSHMI NARASIMHAN Final Year, Department of Accounting & Finance Ramakrishna Mission Vivekananda College Evening College (Autonomous) ABSTRACT The term 'instant food' means simple, fast and convenient food, which is easy and fast to prepare besides being hygienic, free from microbial contamination and also convenient to eat. Canned foods, frozen foods, instant food mixes and dried foods come under this category. A fast-paced urban lifestyle, increasing prevalence of nuclear family structure, rising disposable income, increasingly larger number of globe-trotting consumers with an experimental palate are all favourable demographic factors spurring the adoption of instant food at global level. There are a variety of instant/ready-to-eat foods available in the Indian market to choose from. There is a tremendous potential for commercial exploitation of instant foods as this industry is in a nascent stage. The companies like ITC, Nestle, MTR, Aachi, Hindustan Unilever Limited share a major pie of the instant food market in India. A study was conducted on the consumer’s behaviour on their preferences of ready-to eat food product selection. Four branded products were chosenfor study.Chennai was selected to conduct the study. The goal is to see that people are aware of what they eat on these types of food. Keywords: Consumer behaviour,Ready-to-eat foods, Chennai I. INTRODUCTION “Trust the young people; trust this generation's innovation. They are making things, changing innovation every day. And all the consumers are the same: they want new things, they want cheap things, they want good things, and they want unique things. If we can create these kinds of things for consumers, they will come - Jack ma”. The consumer hood will continue until one’s last breath in the world. A consumer purchases a spread of products and services to satisfy his needs and he's invariably influenced in his buying activities by some issues that lead him to pick a specific product or a specific sales outlet in preference to others. Consumer purchases are possible to be influenced by physiological, psychological and social science factors. The commodities and services are bought by the consumer to satisfy his basic wants, for comfort, pleasure, recreation and happiness. Each individual has physiological factors like hunger, shelter, thirst, etc., that have to be compelled to be glad for survival. The psychological factors like standing status and social factors like friends, neighbours, job and relatives influence their buying activities. “Ready-to-eat Foods" play a very important role in everyone's day-to-day life. The marketing construct behind the concept of instant food is that individuals in fast, mobile societies now not have the time to cook and prepare food within the ancient manner, yet they still wish meals that area unit nourishing and style sensible. Canned foods, convenience foods, fast foods, frozen foods, instant merchandise, dried foods, preserved foods, etc. all return beneath instant foods. Although people, who are usually very busy working, find these foods advantageous, consumers should be aware of the fact that instant-food products are high in preservatives, colour agents etc. People always uses Ready-to-eat food products often, it can also be said that they use atleast one of these food once in a day. Review of Literature Aaker (2000) opined that, brand awareness was remarkably durable and sustainable asset. It provides a sense of familiarity especially in low- involvement products such as soaps, a sense of presence or commitment and substance and it was very important to recall at the time of purchasing process. Apart from the conventional mass media, there were other effective means to create awareness viz., event promotions, publicity, sampling and other attention getting approaches Balaji (1985) studied fish consumption behaviour of 526 consumers in Vishakhapatnam city. The study revealed that 77.00 percent of respondents consumed fish for dinner and 22.00 percent for lunch. About 30.00 percent of the respondents did not consume fish on festival days, as those days were considered auspicious, while the rest had no notations and consumed fish, irrespective of festivals. Nagaraja (2004) opined that, buying behaviour is very much influenced by experience of their own and of neighbour consumers and his family. Above all, the quality of the product and its easy availability were the primary and the vital determinants of his buying behaviour. Consumers were influenced by touch and feel aspect of any promotional activity. Shivkumar (2004) showed that the consumer, irrespective of income groups, was mainly influenced by the opinions of their family members to purchase. Consumers were also influenced by the dealers’ recommendation, followed by advertisement Vincent (2006) studied brand consciousness among children. The study showed that children start to recognize product brands at an early age, which influence family buying behaviour. It was helpful for parents in making purchase decision of durable goods for the family.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Anandanet al. (2007) studied that, majority of the respondents (54.00%) will buy another brand if preferred brand is not available, 18.00 percent of the respondents will go to the nearby town for buying the preferred brand. Fifteen percent of the respondents will postpone their purchase decision. It was revealed from the study that customers cannot postpone the decision of buying the detergents, as it was one of the essential commodities. Significance of the Study This study is an attempt to find out what people prefer in ready-to-eat foods. This will help branded food giants to develop their products in future in accordance with the preference of the consumer.The study shows the preferences of the consumer in various food options given to them and also shows why they prefer branded food products. Statement of the Problem Several firms had been engaging in production and marketing of ready-to-eat food products.Astudy on consumer behaviour was seemed to be important to understand the buying behaviour and preferences of different consumers. Understanding the consumer behaviour would help the firms in formulating strategies the needs of the consumer and thereby increase their market share. Consumer’s taste and preference were found to change rapidly, especially in a dynamic environment. Keeping in view the importance of consumer behaviour and consumption pattern, the present study was undertaken. The main problem focused here is to study what is preferred in choosing of Ready-to- eat products by consumers. II. OBJECTIVES OF THE STUDY The objectives of the study are: 1. To find out the awareness of consumerstowards branded ready-to-eat food products 2. To find out the relationship between age and selection of ready-to-eat food products 3. To find out the relationship between age and brand preference Research Methodology The present study was undertaken to know the awareness of consumers towards branded ready-to-eat food products. 101 samples were taken and analyzed for studying the consumer behaviour. Convenience sampling method was adopted to collect the data. The primary data is collected by issuing the questionnaire. The responses are recorded and loaded in the SPSS (Statistical package for the social science) and data analysis is processed.Statistical techniques like frequency anddescriptive statistics on mean is used to analyse the primary data.The hypotheses were framed according to the questionnaire of the study and statistical techniques such as chi-square and correlation were used to test the significance of the hypotheses. Scope The study was conducted in Chennai, Tamil Nadu, India. It mainly focuses on the consumer awareness of branded ready-to-eat food products and analyse the factors that influence the buying behaviour of instant food products. The study concentrates on the ready-to-eat food products of major manufacturing firms in India namely Aachi, MTR, Everest, Sakthi, Hindustan Unilever, Nestle, Sunfeast, Britania. This study throws a light on understanding the factors that influence the buying behaviour and purchasing patterns of consumers only. Results and Discussion Out of 101 respondents surveyed, 61 are male and 34 are female and prefer not to say counts 6 in total. Most of the respondents belong to the age group of 18-23. 49 respondents belong to this category. Most of the people belong to Rs. 10000-30000 income group. 36 respondents belong to this income group. Most of the respondents belong to student category. Hypotheses Testing Age has definite impact on food consumption. Hence in this study an attempt was made to study the relationship between age and selection of instant food. The following hypothesis was developed to test this relationship. H0 - There is a no significance difference between age and selection of instant food product H1 - There is a significance difference between age and selection of instant food product Table 1 Descriptive Age N Mean Std. Deviation Std. Error Below 18 22 2.91 .780 .166 18-23

49

2.74

.574

.082

23-35

11

2.52

.493

.149

35-50

13

3.17

.519

.144

Above 50

6

2.74

.562

.229

Total 101 2.81 .623 Source: Developed for the study

.062

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table 2 ANOVA Sum of Squares Df Mean Square Between Groups

3.055

4

.764

Within Groups

35.813

96

.373

F

Sig.

2.047 .094

Total 38.868 100 Source: Developed for the study The ANOVA results indicate that the Null hypothesis should be accepted. The independent variable is of four groups: BELOW 18 years (M=2.91, SD=0.780. n=22), 18-23 years (M=2.74, SD=0.574. n=49), 23-35 years (M=2.52, SD=0.493. n=11), 35-50 years (M=3.17, SD=0.519. n=13), ABOVE 50 years (M=2.74, SD=0.562. n=6). The results shows that there was no statistical significance difference at the p<0.05 level in consumers preferences scores F (4, 96) = 2.047, p=0.094. Hence it is concluded that selection of instant food product does not significantly differ according to age. The next hypothesis is about age and brand preference. The following hypothesis was developed for testing. H0 - There is no significance difference between age and brand preference H1 - There is significance difference between age and brand preference Table 3 Descriptive Age

N Mean Std. Deviation Std. Error

Below 18 22

2.95

.801

.171

18-23

49

2.73

.581

.083

23-35

11

2.41

.507

.153

35-50

13

3.09

.482

.134

6

2.77

.548

.224

101 2.79

.633

.063

Above 50 Total

Source: Developed for the study Table 4 ANOVA Sum of Squares Df Mean Square F Sig. Between Groups 3.499 4 .875 2.297 .065 Within Groups

36.553

96

.381

Total 40.052 100 Source: Developed for the study The ANOVA results indicate that the Null hypothesis should be accepted. The independent variable is of four groups: BELOW 18 years (M=2.95, SD=0.801. n=22), 18-23 years (M=2.73, SD=0.581. n=49), 23-35 years (M=2.41, SD=0.507 n=11), 35-50 years (M=3.09, SD=0.482. n=13), ABOVE 50 years (M=2.77, SD=0.548. n=6). The results shows that there was no statistical significance difference at the p<0.05 level in consumers preferences scores F (4, 96) = 2.297, p=0.065. Henceit is concluded that brand preference does not significantly differ according to age. III. FINDINGS 1) 61 respondents are male 2) 49 respondents belong to age category 18-23. 3) 36 respondents belong to Rs. 10000-30000 income group. 4) Most of the respondents belong to student category. 5) Selection of instant food product does not significantly differ according to age. 6) Brand preference does not significantly differ according to age. IV. CONCLUSION This study was carried out in Chennai among 101 consumers. It revealed that there is no association between age and selection of ready-to-eat foods products and age and brand preference. It may be concluded from the study that there is a good scope for the entry of new firms in the ready-to-eat food market. The market is with the huge growth potential. With new marketing strategies, the market share of the instant products can be improved. From the study it can be inferred that there are good number of brands established in the Indian market, and these companies are slowly increasing their operations and introducing new variants. The rate of growth of major firms in the instant food category shows an increasing trend. Consumers are aware of popular brands like Nestle, ITC, Aachi, MTR, Britania, Parle etc. Mass media and print media advertisements play a major role in creating awareness to the consumers about the instant products.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 V. REFERENCES 1. Agnes K.Y. Law, Y.V. Hui, Xiande Zhao, (2004) "Modelling repurchase frequency and customer satisfaction for fast food outlets", International Journal of Quality & Reliability Management, Vol. 21 Issue: 5, pp.545-563, DOI: 10.1108/02656710410536563 2. Goyal Anita and Singh Netra Pal (2007)., Consumer perception about fast food in India: An exploratory study British Food Journal · February 2007 3. https://www.researchgate.net/publication/228367124 4. Ruth Cynthia Klerk (2008)., https://core.ac.uk/download/pdf/18217480.pdf 5. Hong Qin, Victor R. Prybutok, Qilan Zhao, (2010) "Perceived service quality in fast‐food restaurants: empirical evidence from China", International Journal of Quality & Reliability Management, Vol. 27 Issue: 4, pp.424-437, DOI: 10.1108/02656711011035129 6. Ernest; Kelloff, Ashley (2013)., ―Fast Food Leadership: Valuing What Is Easy over What Is Best‖ https://www.questia.com/article/1P3-3153978071 7. Chakraborthy(2015)http://www.academia.edu/3559289/to_analyse_the_consumer_behaviour_in_the_I ndian_fast_food_industry_and_investigating_the_factors_that_could_influence_their_buying_behavio ur_towards_particular brand 8. Anderson EW. Cross-category variation in customer satisfaction and repurchase. Marketing Letters. 1994; 5:19-30. 9. Barkema A, Drabenstott M, Welch K. The quiet revolution in the US food market. Economic Review. 1991; 25-41. 10. Bitner MJ. Evaluating Service Encounters: The Effects of Physical Surrounding and Employee Response, Journal of Marketing. 1990; 54(2):69-82. 11. Boulding W, Kobra A, Straelin R, Zeithaml V. A dynamic process model of service quality. Journal of Marketing Research XXX (February). 1993; 7-27. 12. Cronin JJ, Taylor SA. Measuring service quality: a re-examination and extension. Journal of Marketing. 1992; 56(3):55-68. 13. DeRuyterk, Bloomer J, Peters P. Merging service quality and service satisfaction: An empirical test of an integrative model. Journal of Economics Psychology. 1997; 18:387-406. 14. Ennew CT, Binks MR. Impact of participative service relationships on quality, satisfaction and retention: an exploratory study. Journal of Business Research. 1999; 46:121-123. 15. Homburg C, Stock RM. The link between salespeople’s job satisfaction and customer satisfaction in a business-to-business context: A dyadic analysis. Journal of the Academy of Marketing Science. 2004; 32:144-158.

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CONSUMER PREFERENCE OF KFC IN CHENNAI SYED IBRAHIM BIN MOHIDEEN Final year, Department of Accounting and Finance, Ramakrishna mission Vivekananda College Evening College (Autonomous), Mylapore, Chennai-600 004 ABSTRACT This study is about finding out consumer preference for fast food with reference to KFC in Chennai region. Fast Food industry is growing at a rapid pace and its scope is expandingday by day which led to a major food consumption of fast food by the people in urban area like Chennai. Franchising has also been playing an important role in the development of fast food industry. One of the most iconic fast food brandsin the world is KFC. Fast food industry is a competitive industry in nature and KFC is a pioneer and a leader in the industry. From this study it was found that consumer prefer KFC because of its service. An attempt is made to study the reasons behind consumer’s preference through this study. Keywords: Consumer preference, KFC, Chennai I. INTRODUCTION “A satisfied customer is the key for successful business”. All the business enterprises are trying to satisfy consumer. Fast food industry is also no exception to this view. Fast Food industries are Booming in 2019 and the consumers have a wide choice to choose their favorite restaurant. Consumer preference said to be an inner feeling that a consumer has for a product that they get by their satisfaction level which can be influenced by the consumer needs, promotional activities, social status and etc. Consumer preference is playing a major role in company perspective because preference is one of the key factors which attracts a consumer to a specific brand or product. Having said that, all the companies are struggling to be in the good books of the consumer so that the consumer may prefer their brand. This study is about consumers preference about fast food industry with reference to KFC in Chennai region. Review of Literature Jamshid Sultan (2013) did a study on consumer preference towards fast food chain in Rahim Yar Khan, Pakistan. From this study it was evidence that 81% of the people living in Rahim Yar Khan preferred to eat at a fast food restaurant when they wish to to eat outside. In this research it was found that more people liked to have fast food for dinner than lunch or breakfast. 45% of the people like to have pizza as their primary option for fast food then comes burgers followed by Fried Chicken. Naveed and Iqbal (2017)in their study they have concluded that KFC has a variety of menu option but they have to increase their menu for their consumer because those menus are old and not updated. This is because KFC’s competitor like McDonald’s are coming up with new product every 6-8 months. Anitharaj M.S (2018), have published an article on Global Fast Food Retailing in India on 25.1.2018 says that the Indian consumer was preferring towards home cooked meals compared to having food outside in old time. In Anitharaj’s study, it states that the fast food was primary accepted by the younger generations then moved to the parents. Basically, it means that younger generations are found to be more interested in fast food. Prof. Bhuvanesh Kumar Sharma and Prof Deepak Tiwari(2014) did a study on the topic consumer perception on Fast Food in Bhopal, India. The research was done specifically to find outstudent perception on fast food who are residential and nonresidential students. The result of the study shows that more female customer is willing to eat fast food compared to male. Handan Ozdermir (2017), Published an article on the topic consumer preference for fast food brand. This study was conducted on Turkish consumer. As on earlier studies, the penetration of fast food industry is booming in Turkey as well. This study was aiming at finding out the main factors which influence the younger consumer for fast food. Cost and quality are significant attributes in choosing fast food joints. Statement of the Problem Consumers from emerging market like Chennai have a greater brand choice and preferences. This is due to wide range of fast food restaurants available in Chennai region. KFC is trying to make consumers to dine in their outlets with promotions and offers. As indicated in review of earlier studies there is high preference for KFC in Chennai. Hence it is necessary to find out the reasons behind this brand preference. This leads to study the Consumer Preference of KFC in Chennai. II. OBJECTIVE OF THE STUDY The objectives of the study are listed as follows: 1. To find out the Consumer Preference for KFC. 2. To find out the consumer preferred food item in KFC. 3. To analyze the promotional factors which influence consumer preference for KFC

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Scope of the Study This study is limited to consumer preference towards KFC in Chennai region. The study is mainly confined to analyze the consumer preference for preferring KFC and factor influencing their decision. It also includes the analysis of various demographic groups of customers and their preference for KFC. Research methodology A research design specifies the method of conducting a study.This study has 100 respondents which is selected to know the consumer preference for KFC.The primary date were collected using questionnaire and Secondary data was collected from various journal and articles. The data collected were further analyzed by using statistical tools such as T-Test, Anova, Correlation, Regressation, Mean and Frequency Analysis. Results and Discussion Table 4.1 Demographics of the Respondents Sl. No. Demographics Category Frequency Percentage Male 54 54.0 Gender Female 46 46.0 Total 100 100.0 18-25 years 36 36.0 26-35 years 31 31.0 Age 36-45 years 19 19.0 Above 45 years 14 14.0 Total 100 100.0 Rs 200 – 400 56 56.0 Rs 400- 600 30 30.0 Consumer Spending Rs 600 – 800 10 10.0 More than Rs 800 4 4.0 Total 100 100.0 Student 38 38.0 Employed 25 25.0 Occupation House Wife 24 24.0 Business Man 13 13.0 Total 100 100.0 Source: developed from the study The above table shows that the majority of the respondents are male. Out of 100 respondents 54 are male and 46 are female. Most of the respondents belong to the age group of 19-25 years old. Out of 100 respondents 56 respondents are willing to spend Rs 200-400 on each visit. Most of the responders belongs to student category. Out of 100 responders 38 belongs to this category. Items of Consumer Preference Table 4.2 Mean Scores of the Items of Consumer preference for KFC Item Code Item Mean Standard Deviation 1 Reasons for preferring KFC. (Like the Taste) 3.80 1.030 2 Which of the promotional Activity by KFC influenced you? (TV) 3.70 1.182 3 KFC has a Good service Quality 3.44 0.861 4 Reasons for preferring KFC. (Advertisement) 3.30 1.035 5 I am satisfied with KFC staffs 3.68 0.819 Source: Developed for the study The above table shows that the mean scores and the factors which majorly influence the consumer preference towards KFC. From the following table 4.2, it is inferred that Taste is the reason for preference. Hypothesis Testing H1o: There is no significant difference between gender and consumer preference H1a: There is significant difference between gender and consumer preference Table 4.3 Descriptive Statistics of Consumer Preference Gender N Mean Std. Deviation Std. Error Mean Male 54 3.2269 .79543 .10824 Female 46 3.4837 .58310 .08597 Source: Developed for the study

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table 4.3.1 Independent Sample T Test t test statistic Degree of freedom Sig. (2-tailed) Mean Difference -1.813 98 .073 -.25684 Source: Developed for the study The results of the independent sample t test indicate that the Null Hypothesis should be accepted. It implies that there is no significant difference in consumer preference with respect to gender. H2o: There is no significant difference between age and consumer preference H2a: There is significant difference between age and consumer preference Table 4.3.2 Descriptive Statistics of Consumer preference Age Category

N Mean Std. Deviation

18-25 years 36 3.2500 .70963 26-35 years 31 3.4597 .80905 36-45 years 19 3.4474 .67484 Above 45 years 14 3.1964 .53868 Total 100 2.9780 1.10056 Source: Developed for the study Table 4.3.3 ANOVA Sum of Squares Degree of Freedom Mean Square F Sig. Between Groups 1.241 3 .414 .806 .493 Within Groups 49.232 96 .513 Total 50.472 99 Source: Developed for the study The ANOVA results indicate that the Null Hypothesis should be accepted. The results show that there was no statistically significant difference at the p<0.05 level. Hence it can be concluded that consumer preference does not significantly differ according to age. III. FINDINGS 1. The results revealed that most of the consumers are willing to spend around Rs200- Rs.400 on each trip to KFC. 2. It was also found that KFC does not provide a good vegetarian option to the consumer. 3. 42% of the consumers stated their favorite item is zinger burger. 4. From this study it was found that 96% of the respondent stated that KFC offers good service 5. The respondents are also satisfied with the employees of KFC. 6. It was found consumer preference does not significantly differ according to age. 7. It was found consumer preference does not significantly differ according to gender. Limitations 1. This study is restricted to Chennai city. 2. The research is limited to 100 respondents only, so the results may vary if the number of respondents are more. 3. The duration for the study was short. Scope for Future Research Consumer preference is an important topic in marketing research and a greater number of studies are required to find out the reasons behind consumer preferences. Similarly,fast food industry is also growing at a rapid pace and there can be many researches done in this topic. In future the same research can be done other parts of Tamil Nadu. IV. CONCLUSION From this study it is understood- that there is a high preference for KFC in Chennai region among consumers and consumers tend to visit at least once in a month to KFC outlets. It was also found that there is no significantdifference in preferring KFC according to age.It was found consumer preference does not significantly differ according to gender as well. As the data and finding indicate that KFC is having a good service to cater their consumer and their food is high quality standards. However, the consumers feel that KFC does not provide a good meal option and the price there are paying for KFC products are quite high.

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 V. REFERENCES 1. Nurzul Islam (2010) “Factors affecting consumer preference on fast food in Bangladesh”,The Journal of Applied Business Research – July/August 2010 Volume 26, Number 4 2. Naveed and Iqbal (2017) “Study on consumer preference for KFC in Pakistan” “issued in institude of management and science” 3. Anitharaj M.S(2018)“Global Fast Food Retailing In India”“ A Way AheadPerception of consumers towards Fast food - A descriptive view of Bhopal region”,“IOSR Journal of Business and Management” Volume 20, Issue 2. Ver. II (February. 2018), PP 38-43 4. Prof. BhuvaneshKumar(2015) “Perception of consumers towards Fast food - A descriptive view of Bhopal region” International Journal of Engineering and Applied Sciences (IJEAS), Volume: ISSN: 2394-3661, Volume-2, Issue-1, January 2015 5. Jamshaid Sultan,(2013) “Survey on consumer preferences towards fast food chains in Rahim yar khan” Int. J . leisure and tourism marketing, Vol. 3, No,1 6. Handan Ozdermir(2017) “ Consumer preference for fast food brand” Journal of Marketing Development and Competitiveness Vol. 11(3) 2017 109. 7. Dr. P. Devianai (2016) “Factors influencing to Preference of Fast Food Restaurants” IOSR Journal of Business and Management ,Volume 18, Issue 8 .Ver. IV (Aug. 2016), PP 20-25 8. AnithaGoyal:Consumer(2013)“perception about fast food in India”, British Food Journal, Vol. 109 Issue: 2, pp.182-195, 9. Prof.Gurmeet Singh (2015) “consumer preference towards non-vegetarians fast food outlet in Ahmedabad” , Vol-1 Issue-2 2015 10. KP Najeemudeen and N Panchanatham(2017) “consumer preference for fast food with special reference to ChicKingrestaurant”,INMJI GNS]OJI FN] ]CTCJ]DE JOJIRTBT, vol 6,issue 5/5/17 11. TajulurrusMohamad (2004) “Attributes Influencing Preference of University Students on Fast Food Outlets,Vol. 1(1): September 2004 ©Tourism Educators Association of Malaysia 12. Dr.M. Ashok Kumar and S. Radhika (2013) “customer preference towards fast food restaurants in Coimbatore city, India.”,Volume: 2 | Issue: 11 | Nov 2013 13. www.kfc.com

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3

FDI INFLOWS IN INDIA R. KIRAN Final year, Department of AF, RKM Vivekananda College, Mylapore, Chennai – 04 ABSTRACT Foreign Direct Investment has a very important role in the development of our country. This was due to the fact that domestically available capital is most often insufficient for the overall development of the economy. Foreign capital is considered as one of the few way of filling in the gaps between domestic savings and investment. This study has focussed on the trends of FDI Flow into India during 2006-07 to 2017-18 (up to March, 2018). This study is completely based on Secondary data.The data wascollected fromvarious reports published by the following- Department of Industrial Promotion and Policy, Government of India and Reserve Bank of India. An analysis of the trends in Inflows for the past 12 years showed that due to the recent policy changes done by the current government under the leadership of the Prime Minister Shri Narendra Modi, the FDI policy regime was radically changed. This was given further evidence by the results found under the Paired Sample t-test.Further, on analysis of specific macro-economic variables, the study concludes that these variables have a positive relationship and significantly influence FDI Inflows in India. Keywords: Foreign Direct Investment; Trends in Inflows; Economic Growth, FDI2000 to 2018 I. INTRODUCTION Foreign direct investment is defined as a process whereby the resident of one country (i.e. home country) acquires ownership of an asset in another country (i.e. the host country) and such movement of capital involves ownership, control as well as management of the asset in the host country. Foreign direct investment (FDI), according to IMF manual on 'Balance of payments' is "all investments involving a long term relationship and reflecting a lasting interest and control of a resident entity in one economy in an enterprise resident in an economy other than that of the direct investor”. This typically occurs through acquisition of more than 10 per cent of the shares of the target asset. Foreign direct investment is a way of a country’s growing economic globalization. Investment has always been a matter of concern for developing economies such as India. The world has been constantly globalizing and all countries are liberalizing their policies to welcome investment from those countries which have abundant capital resources. Developed countries are concentrating on new markets where there is availability of ample labour and ability to achieve higher profits. Therefore Foreign Direct Investment (FDI) has become the ground for conflict in the emerging markets. Current Situation in India According to Department of Industrial Policy & Promotion (DIPP), foreign direct investment (FDI) in India increased to US $61.96 billion in 2017-18. FDI inflow in previous scale was US $60 billion. In last four years period, FDI inflows have jumped to US 4222.75 billion from US $152 billion. The main sectors that received most FDI were services, computer software and hardware, telecommunications, construction, trading and automobile. Major sources of FDI to Indian enclosed Mauritius, Singapore, Japan, Netherlands, US, Germany, France and UAE. However, according to recent UNCTAD (United Nations Conference on Trade and Development) report, FDI to India decreased to US $40 billion in 2017 from US $44 billion in 2016, while outflows from India, the main source of investment in South Asia, has doubled. India’s chief competitive advantage lies in its lower labour costs and financially rewardingdomestic markets. But it is fast losing its advantage to countries like Indonesia and Vietnam.This may be due to investors shifting FDI away from known growth engines towards these new emerging economies. II. OBJECTIVES OF THE STUDY The overall aim of the study is to make an analysis about FDI in India. Keeping this general aim in view, an attempt has been made to fulfil the following specific objectives. The objectives of the study are 1.To make an analysis of the trends, growth and patterns of FDI inflow in India 2.To compare the mean values of FDI Inflows between two sub periods 3.To explore the economic factors that influence the inflow of aggregate FDI in India Scope of the Study For the purpose of analysing the aggregate FDI inflows the study covers a period of 12 years from 2006 to 2018. Annual data was largely used for the purpose of analysing FDI Inflows. But in situations where this data was unavailable, quarterly data was used.This study will focus on developing a basic understanding of the determinants and impact of FDI in India. The analysis is limited to the use of secondary data. This analysis is based completely on the data published by the government and on assumption that FDI is affected only by certain variables at any point of time.

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Limitations of the Study 1. The researcher is limited by amount of time of 3 months to make a detailed and complete analysis for this study. 2. Due to lack of technical expertise in the field of research this study’s analysis is limited to those tools at the researcher’s disposal. II. REVIEW OF EARLIER STUDIES Jayachandran, G et al (2010)”A Causal Relationship between Trade, Foreign Direct Investment and Economic Growth for India”investigated the causal relationship between Trade, Foreign Direct Investment and Economic Growth for India. The study found the unidirectional relationship among economic growth rate, FDI and Exports were one of the factors affecting economic growth. Ariffin Masron, (2017) "Relative institutional quality and FDI inflows in ASEAN countries" explored that low institutional quality effect significantly affects foreign direct investment inflows into the Association of Southeast Asian Nations in 1996-2013. This study firmly confirmed that relative IQ significantly affects FDI inflows in the ASEAN countries. Monica Singhania et al (2011), “Determinants of foreign direct investment in India” examined the determinants of foreign direct investment (FDI) in India. It was established that GDP, inflation rate and scientific research are significant and that FDI Policy changes during years 1995‐1997 have had a substantial impact on FDI inflows into India. Reenu Kumari et al (2017) "Determinants of foreign direct investment in developing countries: a panel data study" identified key determinants of foreign direct investment (FDI) inflows in developing countries by means of unbalanced panel data set. Fixed effect estimation indicated that market size, trade openness, interest rate and human capital give significant coefficients in relation to FDI inflow for the panel of developing countries under the study. The findings further reveal that market size is the most significant determinant of FDI inflow. Research Methodology This part of the chapter describes the type of research and research methodology of the study. The present study is empirical in nature covering a period of 12 years from 2006. For the purpose comparing two different sub periods only the past 8 years data were used. This division of the study period was due to the fact that the government changed during the year 2014. This study is based on secondary data. The required data on FDI inflows have been collected from various issues of the FDI Newsletter published by the Department of Industrial Policy and Promotion (DIPP),Secretariat of Industrial Assistance (SIA) and various reports taken from the RBI Bulletin. MacroEconomic Variables have been collected from various sources such as Handbook of Statistics on the Indian economy, RBI and Central Statistics Office (CSO). The variables so collected are-Exchange rate of rupee against us dollar, GDP mp, CPI for IW, BSE market capitalisation, Openness of the economy,Foreign exchange reserves and Gnpmp. The various statistical tools employed are: Percentage Analysis, Paired Sample T-Test,and Simple Linear Regression. Table 1 Data Analysis and Interpretation Total FDI Inflows Year Total FDI Inflows (Rupees in Crores) Percentage of Increase 2006-2007

56390

0.00%

2007-2008

98642

74.93%

2008-2009

142829

44.80%

2009-2010

123120

-13.80%

2010-2011

97320

-20.96%

2011-2012

165146

69.69%

2012-2013

121907

-26.18%

2013-2014

147518

21.01%

2014-2015

189107

28.19%

2015-2016

262322

38.72%

2016-2017

291696

11.20%

288889 165407

-0.96% 18.89%

2017-2018 Mean Source: Secondary Data

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Interpretation The above Table 2 shows the amount of FDI inflows during Financial Year from January 2006 to March 2018. It shows the amount in Rs Crore and the growth over the preceding years. The highest FDI inflows in the country is in the Year 2016 i.e. Rs.291696 crores.This was followed by 2017 and 2015 with inflowsRs.288889 croresand Rs.262322 croresrespectively.The year 2015-2016 showed a tremendous increase in the FDI Inflows. This was due to changes introduced in the FDI policy1 which lead to an increase in sectoral caps.It also brought more activities under automatic route and easing of conditions for foreign investment. The FDI regime was radically liberalised. The above chart also shows that the growth rates of FDI Inflows in India have been constantly fluctuations. This can be attributed to the inability if the government to maintain and constantly attract inflows form the other countries. It can also be due to the fact that other countries like Indonesia and Vietnam have stated providing better facilities like lower labour rate, etc; which has caused the contributors to shift from India. Comparison of FDI Inflows between two sub periods H0: There is no significant difference in the mean values of FDI Inflows between the two sub periods H1: There is a significant difference in the mean values of FDI Inflows between the two sub periods

1

https://dipp.gov.in/sites/default/files/FDI_Circular_2014%20%201_0.pdf

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Contemporary Issues in Business, Banking and Finance ISBN : 978-93-87756-82-3 Table 2

Pair 1

Prior to 2014 From 2014

Paired Samples Statistics Mean N Std. Deviation 11081.0833 48 6865.48496 21500.3125 48 8973.35616

Std. Error Mean 990.94740 1295.19240

PAIRED SAMPLES TEST Paired Differences Mean

Std. Deviation Std. Error Mean t value df

Pair 1 Prior to 2014 - From 2014 -10419.22917 11492.02241

1658.73056

-6.281 47

Sig. (2-tailed) .000

Source: Secondary Data Interpretation The annual mean of FDI Inflows during the period pre 2014 was 11081.0833 and post 2014 was 21500.3125 (Rupees in crores). In the process of comparing the means, the t value is found out to be -6.281. Thus, the null hypothesis is rejected. This means that the mean of FDI Inflows post 2014 is greater than those during the period pre 2014. Economic Factors and FDI Inflows In order to test the influence of each of the selected factors on the FDI Inflows into India the simple linear regression analysis was carried out keeping the FDI Inflows as the dependant factors and the selected macroeconomic variables as the influencing variables. Based on these variables the hypotheses were formulated by the researcher for analysis. H0: There is no significant influence of the selected Macro Economic Variable on the FDI Inflows into India H1: There is significant influence of the selected Macro Economic Variable on the FDI Inflows into India Table 3 Regression Analysis tVariables R2 Significance value Exchange rate of rupee against US dollar .673 5.559 .000 GDPmp .923 13.374 .000 CPI for IW .883 10.628 .000 BSE market capitalisation .876 10.298 .000 Openness of the economy .562 4.388 .001 Gnpmp .923 13.441 .000 Foreign exchange reserves maintained .940 15.330 .000 Source: Secondary Data Interpretation The result of the analysis showed that the Macro Economic Variables individually had significant influence on the FDI Inflows into India. This can be seen from the value of R 2. This implies that variation in FDI Inflows can be explained by the variables. The remaining % variation can be explained by other variables not included in this model. Moreover the significant value of the coefficient is less than .05 or 5%. This means that the test statistic is significant. Therefore it can be concluded that the FDI Inflows into India is influenced by theEconomic variables. The slope value that is the coefficient of the independent variable in the regression equation is positive and significant. This implies that all the variables and FDI Inflows move in the same direction, i.e. these an increase in these variables attracts more FDI into India. III. FINDINGS, SUGGESTIONS AND CONCLUSION 1. FDI is a vital stimulus for the economic growth of India. 2. An Increasing Trend can be noticed in the FDI Inflows in the past few years. But then again at the same time the growth rate of FDI inflows have been decreasing recently. 3. The Inflows for the year 2017were Rs.2,88,889 crores and the growth rate was just 4. -0.96% 5. There exists a positive relationship between FDI Inflows and the macro economic variables. It was also found that all the variables significantly influence the FDI Inflows individually by means of simple linear regression.

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There was a clear difference in the means of pre and post 2014 period. This was when the Prime Minister Shri Narendra Modi and the current government brought forward many reforms and changes in the policies, thereby radically changing the FDI policy regime in India. IV. SUGGESTIONS India can grow if infrastructure facilities are improved considerably and major labour reforms take place. The country ought to take more initiatives in an effort to adopt more flexible labour laws.The issues of geographical disparities in India need to be addressed with urgency. Greenfield Projects must be promoted. Business friendly environment must first be prioritised to attract large Greenfields projects. To maximise the benefits of FDI tirelessly, India should also concentrate on developing human capital and technology. Steps need to be taken to expand the depth and liquidity of debt market as most companies may prefer leveraged investment rather than capitalising with their own cash. Finally, India needs to consciously work towards attracting greater FDI into R&D. This is a means of reinforcing the country’s technological prowess and competitiveness. V. CONCLUSION The present study analysed the influence of selected macro-economic factors individually on the FDI Inflows. It was found that, the FDI Inflows are influenced positively and significantly by Exchange rate of Rupee against US Dollar, Gross Domestic Product, Consumer price index for industrial workers, BSE market capitalisation, Openness of the economy, Foreign exchange reserves and Gross National Product at Market Prices. FDI has facilitated in raising the output, productivity and employment in some sectors, most notably in service sector. The Indian service sector is generating proper employment options for skilled worker with a lot of high perks. And on the other side are banking and insurance sector helping and providing power to the Indian economic condition and in developing the foreign exchange system in the country. FDI in India has a substantial role in the economic growth and development of India. FDI to various sectors in India can help attain sustained economic growth and development through the creation of jobs, expansion of existing manufacturing industries, etc. Thus FDI Inflows helps the country attain a brand on the world wide level through liberalization and globalization. VI. REFERENCES 1. Ariffin Masron, (2017) "Relative institutional quality and FDI inflows in ASEAN countries" Journal of Economic Studies, Vol. 44 Issue: 1, pp.115-137 2. Jamie D. Collins et al (2008), "Home Country Institutions as Predictors of FDI in India" Journal of Asia Business Studies, Vol. 3 Issue: 1, pp.12-22, 3. Jayachandran, G et al (2010)”A Causal Relationship between Trade, Foreign Direct Investment and Economic Growth for India”International Research Journal of Finance and Economics - Issue 42 4. Monica Singhania et al (2011), “Determinants of foreign direct investment in India” Journal of International Trade Law and Policy, Vol. 10 Issue: 1, pp.64-82, 5. Reenu Kumari et al (2017) "Determinants of foreign direct investment in developing countries: a panel data study" International Journal of Emerging Markets, Vol. 12 Issue: 4, pp.658 -682. 6. http://www.ijsrp.org/research-paper-1015/ijsrp-p4631.pdf 7. http://www.mondaq.com/india/x/568036/employee+rights+labour+relations/Roundup+of+Recent+Chan ges+to+Indian+Employment+Laws 8. http://www.mospi.gov.in/data 9. https://currentaffairs.gktoday.in/tags/fdi-policy 10. https://data.gov.in/ 11. https://dbie.rbi.org.in/DBIE/dbie.rbi?site=statistics 12. https://dipp.gov.in/fdi-publications 13. https://www.statisticssolutions.com/manova-analysis-paired-sample-t-test/ 14. Reserve Bank of India (2018), Monthly Bulletin, April.

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