In the present competitive environment it is very crucial to every business firm to ensure satisfaction to its customers. According to one survey it was found that it costs five times more to attract a new customer than to retain an existing customer. So one can say that it is very important to provide goods and services that satisfy customers’ needs or wants irrespective of the industry or scale of the business in which a firm is operating.
The basic objective of any financial services company would be to provide absolute tailor- made products and services to the customer and to retain them with the organization. Retention, however, is not that easy because customer expectations change over time and it becomes a tough job for the companies to satisfy the needs of their customers. With asset management getting its pace and a lot of companies emerging as players, this study has been undertaken with regard to Stock Broking Agencies to look into the expectation of the customers regarding shares and other issues. This research gives emphasis to the expectations of the customers of broking firms and tries to study the performance of the firms visà-vis those expectations.
Way back in 1995, entrepreneur Nirmal Jain had set up India Infoline Limited, an entity dedicated to research activities related to happening in Indian stock markets and also India Inc. Gradually, Jain and his core team made foray into stock broking and the quantum of his turnover started witnessing a huge rise over the years along with generating thousands of employments. Jain also came up with the idea of franchise model to reach out across the length and breadth of the country and making India Infoline a household name when it came to broking activities. Now known as IIFL Holdings Limited 21 years since he had started his journey on the Dalal Street, Jain has been dealing in housing finance, gold loan, loans for buying commercial vehicles, selling various financial products. For him and his team, broking is just one of the over a dozen core business activities they have presently. The Lower Parel headquarter of IIFL Holdings these days have been buzzing with activities and a visitor can well overhear jargons and talks related to asset management, loans, gold mortgage more than words hurled on pure broking activities. Size of Jain’s company has been multiplied by many over last 10 years, number of employees has grown up substantially, reach and topline of IIFL Holdings also have been witnessing a sharp growth. IIFL Holdings is now one of the key players when it comes to private sector funding, finance and mortgage loans.
Technological developments have influenced a lot of businesses, governments, social lives, and education.
Nowadays, people can easily access resources and information they need to maintain and run their businesses. One of the areas that have been greatly influenced by technology is the stock market. If you want to be successful in stock trading, you must embrace technology. As an investor or broker, you may have realized how technology can help one become a great investor. The following are different ways technology influences stock markets.
Stock Brokers and Technology
In the past, traders at the stock exchange used to shout out orders. They would gather around the stock trading area and begin shouting matches. Fortunately, that is no longer the case, as trading has been made a lot easier. Nowadays, you do not have to shout orders, and you can easily get the best stocks by researching online.
Moreover, research has greatly improved. In the past, people had to look for information in the library, contact companies, and read financial literature. You can now get the information you need about different companies easily.