Perception on stock broking services

Introduction :

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.

In a climate of decreasing brand loyalties, understanding customer service and measuring customer satisfaction are very crucial. There is obviously a strong link between customer satisfaction and customer retention. Customers’ perception of service and its quality will determine the success of the product or service in the market. Customer satisfaction is still one of the strongest predictors of customer retention. It is considerably more expensive to attract new customers than it is to keep old ones happy.