Escolar Documentos
Profissional Documentos
Cultura Documentos
Submitted by:
Faculty Guide : Name Geetanjali pinto Name of the Student :Harsh parasher
Designation : Professor finance department Roll No.:1719PGDM1403
Program :PGDM
Batch :F2
1.
Introduction and Company profile
2.
Review of Literature
3.
Analysis and Interpretation
5.
Findings, Suggestions and Conclusion
6.
Appendix Questionnaire
7.
Bibliography
CERTIFICATE FROM THE FACULTY GUIDE
Roll No. ______________________, a student of PGDM program 2018 – 2020 of the Institute
for Technology & Management, Kharghar, Navi Mumbai under my guidance and direction.
Designation : __________________________
2.1 Topic
“A Study of Consumer Awareness Of Foreign Exchange
Services with special reference to the Various Forex Services
Provided By Thomas Cook India Limited”
Statement of the Problem
The study is an attempt to know, about the
awareness level of foreign exchange services in the
Mumbai district.
Thomas Cook & Son Nile cruise poster from 1922 in 1872,
he formed a partnership with his son, John A Mason Cook,
and renamed the travel agency as Thomas Cook & Son.
They acquired business premises on Fleet Street, London.
By this time, Cook had stopped personal tours and became
an agent for foreign or domestic travel. The office also
contained a shop which sold essential travel accessories
including guide books, luggage, telescopes and footwear.
Thomas saw his venture as both religious and social
service; his son provided the commercial expertise that
allowed the company to expand. In accordance with his
beliefs, he and his wife also ran a small temperance hotel
above the office. Their business model was refined by the
introduction of the 'hotel coupon' in 1866. Detachable
coupons in a counterfoil book were issued to the traveler.
These were valid for either a restaurant meal or an
overnight hotel stay provided they were on Cook's list. In
1865, the agency organized tours of the US, picking up
passengers from several departure points. In 1874,
Thomas Cook introduced „circular notes‟, a product that later
became better known by American Express‟s brand, „traveler‟s
cheques. Conflicts of interest between father and son were
resolved when the son persuaded his father, Thomas
Cook, to retire in 1879. He moved back to Leicestershire
and lived quietly until his death. The firm's growth was
consolidated by John Mason Cook and his two sons,
especially by its involvement with military transport and
postal services for Britain and Egypt during the 1880s,
when Cook began organizing tours to the Middle East. By
1888, the company had established offices around the
world, including three in Australia and one in Auckland,
New Zealand, and in 1890, the company sold over 3.25
million tickets. John Mason Cook promoted, and even led,
excursions to, for example, the Middle East where he
was described as "the second-greatest man in Egypt ".
However, while arranging for the German Emperor
Wilhelm
II to visit Palestine in 1898, he contracted dysentery and
died the following year.
Prepaid Cards
Avail of innovative PIN protected prepaid cards that are
now available in different 8 currencies. It is convenient
and safe way to carry money while travelling abroad.
The card can also be reloaded in case you need more
funds while abroad. As far access, withdraw your money
in local regency from VISA and VISA electron ATMs
across the world and also the card to pay for goods and
services at VISA electron merchant establishment.
Wire Transfer (SWIFT)
Thomas Cook Wire Transfer offers a genuinely risk free
channel to send money abroad. Being a privilege
member of SWIFT, your money is remitted with accuracy
and speed. Fund can be wired in 12 major currencies.
Network
Strong network enables us to attract large wholesale
clients such as public and private sector banks, FFMC‟s and
RMC‟s to use our services. We have a strong network of
approximately 216 offices in 79 cities and 169 RMC‟s and
hotel Franchise. Company has foreign exchange counters at
the 24 international airports of Mumbai, New Delhi,
Kolkata, Chennai, Cochin, Trivandrum etc which are open
24 hours and 365 days a year to cater to the needs of
the International travelers. Our company also has a
round the clock Foreign Exchange counter at the New
Delhi Railway station.
4.5 Company at a glance
Board of Directors
M K Sharma : Chairman
Khanna
Kishori Udeshi
Problem Identification
Research Design
Data Collection
Research Report
Fig 5.1 Steps in Research Methodology
5.2 Problem Identification:
The first and the most important step of research are to
properly define the problem. Here the research problem
is regarding the level of consumer awareness of Plastic
money; a comparative study on Multi Currency Forex
Cards.
Sampling Technique
Since the project deals with the peoples from abroad,
NRIs, leisure travelers and corporate travelers
convenient sampling is approximate for making
projection in the study. Population group which includes
Peoples from abroad and corporate travelers are from
Mumbai region only. The units are selected because of
their convenient accessibility and proximity. The data are
quickly available and easily gathered. I have therefore
chosen the sampling method.
Sampling Size:
The research is restricted to a sample size of 50.
5.5 Data Analysis and Interpretation
Data Analyzing and Interpretation is the step to be
taken after the completion of the above mentioned
steps. For this research bar diagrams, pie charts and
other data representation techniques are used for
analyzing and interpreting the data.
6.1 Objective
Appropriate decisions, innovations and
implementations are necessary to compete with the
international standards of any kind of the industry.
Potential market is the vital part of it. So to attract
potential customers and retain them is the success of
the business. The project which is being implemented in
the name of “consumer awareness of plastic money; a
comparative study on TCIL‟s new product line-Borderless
Prepaid Multicurrency Forex cards”
1. To find out the awareness of foreign exchange
market, its evolution from hard core basic services
to modern technologies.
2. To access the different foreign exchange services
of Thomas Cook India Ltd.
3. To find out the markets, where the foreign
exchange business is carrying out.
4. To find out the various foreign exchange services
carried out the travel agents.
6.2 Scope Of Study
1.As the company is a MNC, its operations are also
in the global level.So the awareness level
assesses its marketability.
2. Consumer awareness assesses product‟s market position also.
1. Retail Clients
2. Commercial Banks
1. Retail Market
2. Wholesale Market
The wholesale market is also called interbank
market. The size of transactions in this market is very
large. Dealers are highly professionals and are primary
price makers. The main participants are Commercial
banks, Business corporations and Central banks.
Multinational banks are mainly responsible for
determining exchange rate.
3.Other Participants
a) Brokers
b) Price Takers
Commercial banks).
Here dealings take place between ADs
Here ADs deal with their corporate customers.
7.4 GENERAL GUIDELINES REGARDING FOREIGN
EXCHANGE
A valid passport
9)Approaching RBI
No:
Variables Respondent
Extremely aware 22
Moderately aware 20
Slightly aware 8
Not at all aware 0
Fig 1
0%
16%
44%
40%
Fig 2
50
40
30
20
10
0
Traverles Foreign Forex Drafts Swift
cheque Currency Cards Transfer Awareness of forex services
Notes
Sources of Information
Sources of Information
25 23
20
15
15 12
10
10 8
Variabl No:
es Respondent
Traverles
cheque 50
Foreign
Currency
Note
s 50
Prepaid Travel cards 5
Draft
s 10
Swift Transfer 6
Fig
4
60
50 50
50
40
30
20
12
9 10
10
0
Traverles Foreign Forex Cards Drafts Swift Transfer
cheque Currency Notes
Fig 5
Good to use
travers cheque foreign currency notes Forex card drafts swift transfer
14%
4%
22%
8%
52%
No:
Variables Respondent
Safety 11
Speed 25
Liquidity 5
Convenient 4
All 5
Fig 6
10%
8% 22%
10%
50%
No:
Variables Respondent
Yes 12
No 38
Fig 7
24%
76%
Table
No:
Variables Respondent
Yes 38
No 12
Fig 8
24%
76%
No:
Variables Respondent
Yes 11
No 39
Fig 9
22%
78%
Table 10
No:
Variables Respondent
Yes 8
No 42
Fig 10
16%
84%
Table 11
Yes 3
No 47
Fig 11
6%
94%
94% of the respondents have never used the swift transfer of Thomas Cook India Ltd, while 6%
of the respondents have used the swift transfer of Thomas Cook
FINDINGS AND
SUGGESTIONS
9.1 FINDINGS
Different services of forex and RBI regulations are co
related that is when the travel agents use different
services of forex they will be more aware of the RBI
regulations.
Operations of the travels agents and services of
foreign exchange are correlated that is when the
travel agents do more foreign business they are
getting more aware of the different forex services.
44% of the respondents are extremely aware of
foreign exchange services, 40% of the respondent
are moderately aware about the foreign exchange
services, 16% of the travel agents are slightly
aware.
52% of the travel agents feels foreign currency is good
to use, 22% are feels travel cheque is good to use, 8%
of the travel agents feels prepaid travel card is good,
and rest 4% & 14% supports drafts and swift transfer
respectively.
50% of the respondent has given priority to speed,
22% of the respondent has given priority to safety,
10% has given priority to all the services, 8% of them
given priority to convenient, 10% of them has given
priority to liquidity.
Other sources of information is the widely used
sources of information, 12 respondent came to know
from brokers, 10 respondents feels they got
information from friends and relatives, 8 respondents
came to know from the prospectors and 15
respondents got the information from newspaper and
magazine.
The awareness level about the Thomas Cook in
Mumbai 76%.
76% of the respondent doesn‟t have any association with
particular forex company while 24% of the respondent
have tie up with foreign exchange company.
22% of the respondent in Mumbai has used services of
Thomas cook forex while 78% haven‟t used the services of
Thomas cook forex.
While told to rate the travel agency when compared to
its Competitors the travel agency got itself an average
6 on 10.
All the respondants are on the positive note of using
the services of the travel agency in the future.
9.2 SUGGESTIONS
The Foreign Exchange Market has been growing
at a
rapid pace, reflecting a general growth in the
volume of cross boarder transaction, trade, and
investment. When the government takes the
decision of removing the restriction on multi brand
investment, there is a chance of foreign investment
in Mumbai Districts. Even now those districts have
the potential for foreign exchange activity.
Now there are a lot of players are in every urban
and semi urban areas. So we should more in
accessible to customers. Thomas Cook India Limited
[TCIL] has to start more than 2 branches in major
towns in Mumbai.
Thomas cook may conduct a marketing program
such as help desk in small districts of Mumbai about
their new offers and products which can attract the
travel agents of that area.
Thomas cook can develop a customer relationship
management(CRM) program and use it for getting
aquainted
with its frequent fliers and other service users.
Customer in
today‟s marketing world looks for personalized attention.
Therefore any CRM program will provide a
competitive edge to the organization. Thomas Cook
could use CTM as a base line for developing CRM
program. By extracting enormous data stored in
CTM, it could prepare a separate list of most
frequent
service users. Depending upon the service used
some discount or any kind of favour could be
provided to them.
More no of people are needed inward remittance
and currency exchange services. Very less people
are prefering the travelers cheque. By considering
the Tourism opportunities of the Mumbai
multicurrency card has to be popularized.
Increase the awareness level of the Thomas Cook in
the Whole Sale and Retail Customers especially the
service wise and product wise. Brand advertisement
has to reach the mind of the customers in all the
areas.
The development of leisure team of Thomas cook in
Trissur can increase the business of leisure travel as
well as the forex business.
Respondent were very keen to participate in survey
as they are eager to let the agency know about the
services rendered and also to give in their
suggestions. Therefore these kind of surveys should
be continued in order to get a feedback from
travellers directly.
9.3 CONCLUSION
The nature of business is changing because of the
globalization and flow of technology. Because of that the
Foreign Exchange Business has also very good
opportunities in the emerging economy like India.
Finding the potential market and accessible to the
customers by providing very good services essential to
success in this field.