1. PREFACE : EXECUTIVE SUMMARY
“The theory without practice is like lamp without oil”.
The theories and practices are complementary and supplementary to each other. Obviously, the
theory and practice are two facts of the sane coin.
Hence I have undertaken the on the job training assignment during the two year study period.
This on the job training assignment made me practically familiar with the programs being carried
out in the organization.
Consumer behavior is the study of when, why, how, and where people do or do not buy
a product. It blends elements from psychology, sociology, social anthropology and economics. It
attempts to understand the buyer decision making process, both individually and in groups. It
studies characteristics of individual consumers such as demographics and behavioral variables in
an attempt to understand people's wants. It also tries to assess influences on the consumer from
groups such as family, friends, reference groups, and society in general.
How many times throughout the day do we people make product decisions? If we stop to think
about it, many product decisions are made every day, some without much thought. What should
we wear? What should we eat? What are we going to do today? Many product decisions are
answered routinely every day and they help move the economy of cities, countries and ultimately
the world.
Product decisions also shape life for the consumer. How can simple decisions be so important?
Why do marketers spend millions of dollars to uncover the reasons behind these decisions?
Thus consumer behavior it is the study of consumers and the processes they use to choose, use
(consume), and dispose of products and services. Consumer behavior incorporates ideas from
several sciences including psychology, biology, chemistry and economics. It is a study based on
consumer buying behavior, with the customer playing the three distinct roles of user, payer and
buyer. Research has shown that consumer behavior is difficult to predict, even for experts in the
field. Relationship marketing is an influential asset for customer behavior analysis as it has a
keen interest in the re-discovery of the true meaning of marketing through the re-affirmation of
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2. the importance of the customer or buyer. A greater importance is also placed on consumer
retention, customer relationship management, personalization, customization and one-to-one
marketing. Social functions can be categorized into social choice and welfare functions.
This also helps in building up their spirit, morale and esprit-de-cops which becomes strength of
the company. The culture of excellence thus nurtured contributes to growth with stability and
continuous improvement in productivity.
The psychology of how consumers think, feel, reason, and select between different alternatives
(e.g., brands, products, and retailers)
The psychology of how the consumer is influenced by his or her environment (e.g.,
culture, family, signs, media);
The behavior of consumers while shopping or making other marketing decisions;
Limitations in consumer knowledge or information processing abilities influence
decisions and marketing outcome;
How consumer motivation and decision strategies differ between products that differ in
their level of importance or interest that they entail for the consumer; and
How marketers can adapt and improve their marketing campaigns and marketing
strategies to more effectively reach the consumer.
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.
During my internship I got oriented to:
1) Live corporate work culture and exposure to live situation where I was able to see the actual
working of Marketing Managers and got the opportunity to work under them on various
assignments.
2) Facilitate the development and shaping of different talent skills of ours.
3) To sharpen our skills pertaining-
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3. --identifying research problems.
--Developing relevant questionnaire.
--Conducting surveys for the consumers and data compilation, interpretation and report
preparation.
This project assignment exercises during summer training is an extensive exposure towards
practical experiences in the context of a research problem which is undertaken for studying
purposes.
SIGNIFICANCE OF THE STUDY : Success of every business enterprise depends on its
marketing ability. Money, material and machines are inert factors; but company with its ability to
make the customer to feel, think and believe is the most valuable factor. At the same time human
elements are most difficult to be inspired, controlled and motivated. The upcoming competition
in India will demand high level of understanding of customer‟s mindset. The satisfaction of
customers in the organization is a very crucial part for all the Marketing Managers. So with these
thoughts in mind, I chose to carry my project report on Consumer Behavior with reference to Itz
Cash under Marketing Management.
SCOPE OF THE STUDY :
1. To structure the consumer behavior towards cash cards and its usage.
2. To analyze the level of satisfaction and trust of the customer towards cash cards
3. To compare Itz Cards with Debit Cards and Credit Cards.
4. To provide a better prospect towards such kind of service.
RATIONALE OF THE PROJECT :
In today‟s era everything is dependent on technology so as Marketing of any organization for its
product is also getting focused towards the same and thereby I chose to do my project on
studying the Customer Behavior towards Itz Cash. The basic reason behind selecting this topic
was because I wanted to know that how much such facilities provided by companies satisfies
customer. I wanted to learn the actual work and to know that whether this service is followed by
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4. mass population and is beneficial for the company. Thereby these are the main reason which
inspired me to do project report on this topic.
METHODOLOGY OF THE STUDY: Methodology means the method or the process through
which the information is collected for research problem. Research calls for developing the most
efficient plan for gathering information. Designing a research plan calls for decision of the
following:
DATA COLLECTION SOURCES:
i) PRIMARY DATA : The normal procedure of primary data collection was
done through interviewing customers. For that I took a sample size of 75
individuals whom I contacted through Internet and personally and asked them
to fill questionnaire.
ii) SECONDARY DATA: The Secondary data was collected by exploring
company records, website, magazines and on the basis of the interviews
conducted with different Marketing Managers of different companies.
RESEARCH APPROACHES: Now, the Primary data can be collected in different ways, but I
sought to personal approach through surveys. Surveys are the best suited for descriptive research,
it is a process by which candidates are directly contacted and interviewed. I interviewed around
75 individuals from various backgrounds and thereby came to the conclusion for my project.
RESEARCH INSTRUMENT: There are three main research instruments – Questionnaire,
psychological tools and mechanical devices. My research instrument was Questionnaire. A
Questionnaire consists of a set of questions presented to the respondents. The questionnaire is
quite comprehensive. It consists closed ended which specify all possible answers and open ended
questionnaire which help them to answer in their own words.
SAMPLING DESIGN : How many people should be surveyed. I interviewed around 75
respondents which includes the individuals from various backgrounds.
SAMPLING PROCEDURE: The respondents were interviewed by contacting though emails
and one to one interview basis. I have selected people of different areas which include students,
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5. experienced professionals, job-seekers, housewives. I‟ve covered all important areas and those
whom I can‟t contact face to face I mailed the questionnaire to them through email and got their
response..
OBJECTIVES OF THE STUDY :
In order to work above – mentioned there of the study it is necessary for us to design an
objective protocol and the major objective of the study have been –
1) To analyze the satisfaction and knowledge level of customer towards Itz Cash.
2) To study the awareness level of Cash Cards in India.
3) To figure out the preference of Cash Cards over Debit Cards and Credit Cards.
LIMITATIONS OF THE RESEARCH:
The various difficulties and problems which I have faced during project relate to certain specific
areas but on account of the un-debated enthusiasm, I was able to overcome the limitations. In
search of perfection, I faced certain problems either environmental or artificial.
 Unauthentic interaction with some respondents was not a pleasant experience. Some were
hesitant and not willing to give information.
 Survey was conducted mostly with those who were less interested in filling any kind of
questionnaire and thus it does not provide me the exact picture of the study in whole
market scenario.
 Due to lack of time and adequate facilities, it was not to survey the whole sum group of
individuals.
 Unfavorable climate conditions was opposing hurdle which at times created an untoward
ambiance.
 Limited numbers of Questionnaire were not sufficient for best conclusion.
However, in spite of all limitations the total experience was great and the total responses
has been compiled, analyzed and assessed and the total interpretation is in the form of the
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6. subsequent chapters of this report, which shall go a long way in defining and supporting
the study.
INTRODUCTION TO THE COMPANY
Delivering expertise, reliability and business value….
“The only way to discover the limits of the possible is to go beyond them into the
impossible”
----Arthur C. Clark
Launched in year 2006, Itz Cash Card Ltd., is India's first ever "Multi
Service Prepaid Card company" and the leader in this sector.
Introduced by the highly diversified Essel Group - a business
conglomerate, having businesses in Media and Entertainment, (Zee
Network), Tourism and Amusement, (Essel world & Water
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7. Kingdom), Packaging, (Essel Propack), Publishing(DNA), and Satellite entertainment (Dish TV).
ItzCash is another successful venture that has innovated the entire paradigm of payment solutions
across the web and the mobile. ItzCash Card offers a portfolio of customized e-commerce and m-
commerce solutions in the B2B & B2C space.
The Essel Group is one of India‟s prominent business houses with a diverse portfolio of assets in
media, packaging, entertainment, technology-enabled services, infrastructure development and
education.
Essel was started in 1976 with the commodity trading and export firm Rama Associates Limited.
Over the years, the Group has metamorphosed into a conglomerate with an estimated turnover of US$
2.4 billion (FY 2007).
Subhash Chandra is the Founder, Chairman and the chief architect of the Essel Group of companies.
The success of all his businesses is an illustration of his pioneering spirit and strong business acumen.
Under his leadership, Essel has grown into one of the largest entities and a symbol of Indian ingenuity
and power.
VISION OF THE COMPANY:
Itz Cash has a vision to empower each and every Indian citizen with a prepaid payment - instrument,
thus giving them the convenience to transact for digital or physical commerce transactions to avail
any kind of goods and services.
OBJECTIVES OF THE COMPANY:
Itz Cash objective is to introduce multipurpose stored value card of various denomination which can
be used to purchase various goods and services from affiliated merchants based on anywhere, anytime
concept, which would result in increased sales for all affiliated merchants and better safety and
convenience for the consumer.
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8. OPPORTUNITIES:
Itz Cash offers opportunities to various business organizations to sell their product, services to
consumer without any incremental investment from their side. Itz Cash is helping business
organizations to expand markets, supporting sales channels convergence with its payments
convergence
ITZ CASH DISTRIBUTION NETWORK:
Itz Cash has an extensive pan-India network spanning over 40,000 Itz Cash franchisees
branded as Itz Cash World Outlets.
Additionally there are approximately 2,70,000 outlets in 2,250 Tier I & II towns in the
country under the brand name "Itz Cash Point".
Itz Cash – MILESTONES OF ACHIEVEMENT:
More than 10 million unique active users and rapidly increasing.
Processes more than one lakh transactions daily.
Processes more than Rs. 100 mn - Rs. 150 mn worth transactions daily.
Largest payment gateway on IRCTC (online railway ticket booking in India) amongst 34 odd
payment gateways
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9. Have won various awards including "Innovative Use of Technology".
Itz Cash Card Limited was awarded the Prepaid Award 2011 in the category for Best Prepaid
Non-Gift for its noQ24x7 Card and in the category for Best Government Program for ItzCash
Municipal Corporation of Mumbai Octroi Silver Card.
Itz Cash Card Limited bagged an award for its ICW Master Account Prepaid Program in the
Best Prepaid Program Direct Marketing category and for its noQ24x7 Prepaid Card Program
in the Best Non-U.S.-Based Prepaid Program category at the 2011 Paybefore Awards in
USA.
ItzCash bagged Edge awards by Network Computing in General Category, for Automation of
Octroi Collection. The award was given after a through scrutiny by an eminent panel of jurors
which included Dr. Nandlal L. Sarda Professor, Department of Computer Science and
Engineering, IIT Bombay & Sushanto Mitra Chief Executive Officer, Society for Innovation
& Entrepreneurship (SINE), IIT Bombay.
Travel & Tourism Fair India‟s premium travel expo awards ItzCash the Most Innovative
Product Award.
PayBefore, awards the premier awards for the prepaid industry honored ItzCash Octroi
Automation program as the best in the category of 'Most Innovative Prepaid Program' for
Municipal Corporation of Greater Mumbai in the year 2009.
ItzCash was also awarded as the best 'General Purpose Prepaid Card' in the year 2008.
Won 'Product of the Year' award in the prepaid card category in 2009. ItzCash Card was
awarded as the 'Best Multipurpose Prepaid Cash Card' which was a result of the survey
conducted by A C Nielsen having a sample size of 40000 people across various cities and
sectors.
Itz Cash Card Ltd. is the first company which has been issued the Certificate of
Authorization, by the Reserve Bank of India (RBI) under the Payment and Settlement System
Act, 2007.
ItzCash bagged Edge awards by Network Computing in General Category, for Automation of
Octroi Collection. The award was given after a through scrutiny by an eminent panel of jurors
which included Dr. Nandlal L. Sarda Professor, Department of Computer Science and
Engineering, IIT Bombay & Sushanto Mitra Chief Executive Officer, Society for Innovation
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10. & Entrepreneurship (SINE), IIT Bombay.
BOARD OF DIRECTOR: ORGANIZATIONAL FRAMEWORK
ASHOK KUMAR GOEL – CHAIRMAN
VINOD SETHI – INDEPENDENT DIRECTOR
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11. BIBEK DEBROY - INDEPENDENT DIRECTOR
MUKUND MANOHAR CHITALE - INDEPENDENT DIRECTOR
M.R.UMARJI - INDEPENDENT DIRECTOR
NAVEEN SURYA – MANAGING DIRECTOR
AVNISH BAJAJ – NOMINEE
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12. BEJUL SOMAIA – NOMINEE
INVESTORS OF THE COMPANY:
1. Matrix Partners India Investment Holdings, LLC
2. Intel Capital (Mauritius) Limited
3. Light speed Venture Partners VIII Mauritius.
PRODUCTS OF ITZ CASH:
 ICW MASTER ACCOUNTS - ICW Master Account is an exclusive B2B card which can be
used by Itz Cash franchisees to avail over 5000 services. This card is issued to authorized Itz
Cash franchisees.
ITZ CASH FRANCHISEE ADVANTAGE:
More than 5000 services
Quick 'Return On Investment'
Best Margins to the trade in the industry
Dedicated customer care assistance from 8.30am to 10.00pm and many more.
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13. WHERE TO USE:
Rail E-Ticket Air E-Ticket
Mobile Recharge DTH Subscription
Electricity Bill Payment Mobile Bill Payment
HOW TO USE: Master Card has a 12 digit account number and a 4 digit password at the back of the
card. This account no. and password is necessary for online and on mobile transactions.
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14.  ITZ DISH CARDS: ItzDish Card is a B2B card and our sales associates can use this card to
make customer‟s Dish TV subscription payment.
ItzDish Card has been designed specially to give more profit to our sales associates.
Card is available in Rs 100/-, Rs 300/ -, Rs 600/- and Rs. 900/- denominations.
 Itz CASH PLUS CARDS: ItzCash Plus Card is again a B2B card that allows our sales
associates to recharge any service providers number at anytime from anywhere. This card
works only after user login on www.itzmobile.co.in and will work as a normal scratch card
with account number and password. For recharging the number you will get an electronic
pin.Card is available in Rs 750/-, Rs 1250/ -, Rs 1800/- ,Rs. 3500/-, Rs. 6000/- and Rs. 9000/-
denominations.
 RELOAD VOUCHER: Mini Pack is a unique solution to recharge your noQ24x7 Card
anytime, anywhere. This recharge voucher is a paper scratch voucher which is available in
market in a very small and trendy size.
 DENOMINATION: Mini Pack available in the following denomination:
100/-, 250/-, 500/-, 1000/-, 5000/-
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15.  MINI PACK USAGE: The backside of the voucher has a 16 digit voucher code which can
be unmasked and used to recharge the noQ24x7 Card.
The backside of the voucher has a 16 digit voucher code which can be unmasked and used to
recharge the noQ24x7 Card
Validity: The voucher is valid 1 (one) year from the date of manufacturing
Simple steps to Recharge noQ24x7 Card:
ITZRCH_Amount_voucher No._Card Account No._Card password to 57575
Note: "_" denotes single space
ONLINE: Visit www.itzcash.com and login with the card which user wish to reload
Click on reload tab to reload the card.
Enter 12 digit voucher no.(available on the voucher) 4 digit password and amount to reload
Click on recharge now button to recharge amount from voucher to card
A successful reload message will show on screen.
*Kindly check your card balance after a successful reload.
SERVICES OF ITZ CASH CARD:
Itz Cash gives its franchisees a smarter way to make their daily transactions. Through
„Where to Use‟ section get connected with our vast list of merchants that provide products
and services across all categories. The section has detailed process flow of how you can make
payment with Itz Cash and provide service to your customers.
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16. ONLINE SERVICES
ON MOBILE SERVICES
ONLINE SERVICES:
ON MOBILE SERVICES:
ITZ BILL PAYMENT SERVICES:
The Essel Group foundation was laid way back in 1976, this Group has metamorphosis into a
conglomerate embracing new technology and versatile forms of entertainment. The Essel Group of
Companies is truly an innovative corporation led by the entrepreneurial zeal and vision of Shri.
SubhashChandra.
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17. It started with Essel Packaging wherein India took centre stage in packaging industry with the
introduction of laminated plastic tubes and earned international acclaim. Today Essel Propack enjoys
the numero uno status in the world!
While the industry was still coming to grips with this impressive innovation, Subhash Chandra had
already moved forward. This time it was out of home entertainment: Theme Parks. Again, a
pioneering concept driven by state of the art technology. With Essel World & Water Kingdom, we
for the first time had amusement parks comparable to rest of the world.
The time around, it was not only a big step for Essel Group but more so for India. 1992 saw the birth
of Zee TV, India's first ever satellite television channel. Subhash Chandra had once again
revolutionized entertainment! A proud moment in time that led to the establishment of Indian cable
& satellite industry.
Driven by consumer preferences, the channel went on to become an unparalleled success story. It
also laid the foundation for a whole host of channels - international, national and regional. Within a
decade, the Zee Network had found a place in the heart of every Indian. In the country and overseas.
It was clearly a benchmark for others to follow.
And just as everybody was guessing on the future of Indian entertainment, Subhash Chandra gave
them a pleasant surprise. And this time too it is the first such entertainment concept in Indian history.
Essel Group invites you to Playwin Games of Fortune. Yes, that is how winners win.
Group Companies:
Media Entertainment:
Zee Network
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18. Zee TV Essel World
Zee TV - UK Water Kingdom
Zee TV - USA Playwin
Zee TV - Asia Fun Republic/Fun Multiplex
Zee Cinema E-City Digital Cinema
Zee Studio E-City Films
Zee Café Technology-enabled services:
Zee Gold Cyquator
ETC Agrani
Zee Muzic Intrex India
Zee Jagran Itz Cash Card Ltd.
Zee Trendz Cornershop Entertainment Company
Zee Arabiya Infrastructure Development:
Play TV Suncity Projects
Channel Siti E-City Property Management Services
Distribution Sports:
WWIL Zee Sports
Zee Turner Ten Sports
Direct-to-home - Dish TV News and Business:
DNA Zee News
Education: Retailing:
ZILS Asian Sky Shop
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19. Kidzee Fab 5
ZIMA Packaging:
ZICA Essel Propack
Kidz Care Essel Cares:
Kidzee High
Essel Awards
Regional:
Zee Telugu
Zee Marathi
Zee Punjabi
Zee Kannada
Zee Bangla
PARTNERS OF ITZ CASH CARDS: ItzCash Card Ltd.; a company in the financial
services sector providing payment solutions over the web and mobile.
As a financial control tool, ItzCash Card, India‟s First ever „Multi Purpose Prepaid Cash Card‟,
uniquely provides Cash management & control solutions in Manufacturer-Distributor-Retailer B2B
relationship for efficient payment collection, dynamic inventory management etc; thereby
improving cash flows and minimizing complicities involved in reconciliation & accounting. In a
demand driven market place the card allows the retailer on a single SMS to top-up his deposit limit
instantaneously and capitalize on the increased demand.
In B2C applications the card provides the most secure and safest mode of payment for transactions
over the Internet & Mobile by its unique „use & throw‟ feature. Applications such as on-line train
and airline ticket bookings, Energy and Telephone bill payment, on-line shopping; mobile prepaid
top-ups and post paid bill payments are currently enabled.
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20. Distributed through the FMCG / Prepaid / Electronic / Group co. channels, the card is currently
available in over 200,000 outlets across 2000 Tier I, II and III towns in the country.
DISTRIBUTOR, FRANCHISEE AND MERCHANT:
Distributor: An authorized ItzCash distributor is the one who is a bridge between ItzCash & its
Franchisees. They take care of all the queries and requirements of authorized ItzCash Outlets.
Franchisee: An authorized ItzCash Outlet known as ItzCash World provides services to the end
customer like booking air tickets, recharge mobile and DTH account, pay electricity, mobile bills and
much more. Any person, more than 18 years of age with a computer, internet connection and a
printer can become an ItzCash franchisee and earn from day one.
Merchant: A Corporate Associate through whom ItzCash facilitates various services and product
payment to the end customers. Some of esteemed partners are: IRCTC, MCGM, Reliance energy,
Vodafone, MCD, Yatra, Arzoo, ICICI Lombard etc
DATA ANALYSIS AND INTERPRETATION :
RESEARCH METHODOLOGY & DATA ANALYSIS
Research design – Descriptive analysis
Data has been collected through primary and secondary research. Primary research was done with the
help of questionnaire
Secondary data was collected through internet, company‟s website journals, books and magazines,
etc.
Sample size – Response of 75 respondents has been collected through survey. Respondent are
students, working professionals, housewives and from individual from other organization.
Sample element - Sample includes professional housewives, students professionals and people
working on various levels in different organization.
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21. Data has been analyzed through simple mean and findings have been represented with the help of
graphs and pie charts. Set of questions in form of questionnaire were given to them and on the basis
of that various conclusions has been made.
QUESTIONNAIRE:
After set of basic questionnaire the following questions were asked to the respondents.
1. Gender of the respondent : Male or Female.
Respondent
Male
Female
Interpretation: The diagram clearly shows that out of 75 respondents 56%were male and
remaining 44% were female.
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22. 2. The age group of card user lies between:
Age Group
15-25
25-40
40-60
Above 60
Interpretation: The diagram clearly shows that 29% of respondents were between age of
15-25, whereas 32% were between age of 25-40. On the other side 21% of them between age group
of 40-60 and remaining 18% were above age of 60.
3.What is your annual income?
Annual Income
Less than 1 lakh
1-3 lakhs
3-5 lakhs
Above 5 lakhs
Interpretation: This diagram clearly shows that 18% of individuals have their annual salary of less
than 1 lakh while 25% of them have between 1-3lakhs. On the other hand 31% of them state their
salary between 3-5lakhs and remaining 26% states that to be above 5lakhs.
4.Which is the area from where they belong to?
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23. Area
Tier 1 city
Tier 2 city
Tier 3 city
Tier 4 city
Interpretation: This diagram shows that 42% of the card users belong to Tier 1 city whereas 28%
belongs to Tier 2 city. On the other hand 18% belong to Tier 3 city and remaining 12% belong to
Tier4 city.
5.What is the occupation of the respondent?
Occupation
Service Man/Professionals
Business Man
Students
House Wives
Others
Interpretation: This diagram clearly shows that 26% of individuals were in service or were
professionals while 39% of them were in business. On the other hand 12% of them were students and
10% of them were housewives and the remaining 13% were from other area of work.
6.Which kind of payment mode you prefer to use?
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24. Kind of Payment Mode
Cash
Debit Crads
Credit Cards
Cash Cards
Interpretation: The diagram shows that 30% of respondent prefer to pay in terms of cash and if
cards then 32% of the remaining prefer to pay through debit cards while 24% prefer to pay through
credit cards and the remaining 14% will prefer to pay through cash cards.
7.Since how long you have been using the cash cards?
Duration
Less than 6 months
1-2 years
2-4 years
Not using Cash Cards
Interpretation: This diagram shows that 10% of respondents are using cash cards since last six
months only whereas 28% of them are using it from past 1-2 years. On the other hand 13% of
respondents using cash cards from 2-3 years whereas remaining 49% don‟t use cash cards as they are
in favor of using either cash or debit/credit cards.
8.How often do you use card service in a week?
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25. Weekly Usage
Less than 1 time
1-2 times
2-3 times
More than 3 times
Interpretation: This diagram clearly shows the status that 29% of respondent use their cards less
than one time in a week, where as 38% of them use that 1-2 times. 18% of respondents use that
between 2-3 times and remaining 15% use that more than 3 times in a week.
9.For what purpose you prefer to use Cash/Credit/Debit Cards?
Preference of use
Shopping
Bill Payments
Travel/Ticketing
Entertainment
All of the above
Interpretation: This diagram clearly shows that 21% of individual prefer to use cards for shopping
whereas 13% prefer that for payment of bills. On the other hand 28% prefer cards for travel and
ticketing and 16% prefer it for their entertainment part. The remaining 22% prefer using that for all
the above mentioned reasons.
10. How much minimum balance or average quarterly balance you maintain in your cash card?
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26. Balance maintained
Less than 500
500-1000
1000-5000
More than 5000
Interpretation: The diagram shows that 32% of cash card users maintain less than 500Rs.as their
balance where as 42% of them maintain that between 500-1000. On the other hand 23% of them
maintain it between 1000-5000 whereas 3% maintain it more than 5000.
11. Are you satisfied with the service provided by the card service you are using?
Satisfied or not
Very Satisfied
Satisfied
Indifferent
Dissatisfied
Interpretation: In this diagram it is mentioned that 12% of respondents are very much satisfied with
the service whereas 57% are satisfied. On the other hand 14% states it as indifferent and remaining
17% were dissatisfied.
12. Which is the best service provided by ITZ Cash?
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27. Best Services
Online Services
On Mobile Services
Both
Interpretation: This diagram shows that 39% of users believe that Online services are best whereas
45% believes that On Mobile Services are best whereas 16% of them were in favor of both the
services.
13. Are you satisfied with the services given by ITZ Cash Cards?
Satisfied with Itz Cash
Yes
No
Depends
Not using
Interpretation: This diagram shows that 41% of respondents are satisfied with Itz Cash whereas
12% of them are not satisfied. On the other hand 11% were not sure about their opinion and
remaining 36% were not using cash cards.
14.How would you rate services of Itz Cash?
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28. Rating
Excellent
Good
Fair
Poor
Interpretation: This diagram shows that 21% of users rated the service provided by Itz Cash as
excellent whereas 38% have rated it as good. On the other hand 29% of users have rated it as Fair but
remaining 12% have rated it poor
FINDINGS OF THE STUDY:
From the research done on the completion of this report it is very much clear that the consumer
behavior towards cash cards is satisfactory. As research is being done to study the consumer behavior
regarding cash cards in comparison to credit and debit cards, thus we found that it is very clear that
people are more inclined towards credit card and debit card as compared with cash cards but however
this is important to note that credit card and debit card is an old concept in India comparatively and is
backed by a well structured and resourceful banking sector. But this is not the case with Cash cards
as it is a new concept and this prepaid cash card concept is growing at a rapid rate and people are
getting aware of this highly useful mode of transaction by each passing day.
Prepaid cash card business is very innovative and providing various innovative services which suites
every strata of society. That day is not far when it will give a fierce competition to its competitors. It
is estimated that the total business of cash card will increase many folds in the coming years.
Although Itz Cash which is the biggest prepaid cash card business in India has 95% of its business on
B2B basis but it has eased the life of end users which consist professionals, business man, students
and housewives in a significant manner. There has been a surge in cash card transactions at the
IRCTC website with around 13 per cent of rail tickets being booked using pre-paid cash cards. Itz
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29. Cash card, India's only "Multi Purpose Prepaid Cash Card", lead the cash card category for online
booking of rail e-tickets with more than 78% share.
Cornering a significant per cent share of the total online transactions, Itz Cash card has emerged as
one of the preferred payment options amongst the 34 payment gateways available.
Over 85 per cent of the country's population does not have banking instruments for online
transaction. The number of credit card holders and debit card holders are 2 per cent and 13 per cent
of population respectively. With this huge void in banking instruments for digital transactions cash
cards like ItzCash will play a significant role in the future and growth of digital convergence.
Essel Group's pre-paid payment solutions provider Itz Cash is eyeing Rs 4,000-crore revenue and
plans to ramp up its retail network under the brand name 'ItzCash World' to 1 lakh outlets in FY 12.
Over 85 per cent of the country's population does not have banking instruments for online
transaction. The number of credit card holders and debit card holders are 2 per cent and 13 per cent
of population respectively. With this huge void in banking instruments for digital transactions cash
cards like ItzCash will play a significant role in the future and growth of digital convergence.
Usage of cash cards clearly signifies the growth in digital payments and how consumers are looking
at a more convenient mode for purchasing their tickets or paying their utility bills. To provide
services to the consumers company like ItzCash has tied up with more than 5000 merchants and
spread across 1800 locations including cities, towns and rural India. The tie-ups across service
sectors facilitate the multi-utility aspect of the card. ItzCash has over 20,000 ItzCash franchisees
branded as "ItzCash World" and 180,000 outlets in 1800 Tier I and II towns in the country under the
brand name "ItzCash Point". ItzCash through this tie up with IRCTC is been offering an easy and
convenient mode of online booking of railway tickets in Tier 1, Tier 2, Tier 3 cities.
RESPONDENT’S OBSERVATION: CONCLUSION OF THE STUDY
It is very much clear from the observation that in today‟s world it is very much important to
determine the behavior of consumer. There are different views of different consumers and there by
the customer may select his/her area of preference that where they want to spend their money. Many
individuals still prefer to use the traditional methods where either they like to shop by cash or in
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30. modern methods by debit or credit cards. The number of users of cash card is comparatively less that
these two.
On the basis of my questionnaire and the response of the individuals the following findings has been
derived. The various conclusions have been derived from the summer internship done at ITZ CASH
CARD.
The observation done through questionnaire shows that out of 75 respondents 56%were male and
remaining 44% were female. On the other hand when the age group is being divided then I found that
29% of respondents were between age of 15-25, whereas 32% were between age of 25-40. On the
other side 21% of them between age group of 40-60 and remaining 18% were above age of 60.
Another observation which was to know the annual income of the individuals stated that observation
18% of individuals has their annual salary of less than 1lakh while 25% of them have between 1-
3lakhs. On the other hand 31% of them state their salary between 3-5lakhs and remaining 26% states
that to be above 5lakhs.
When considered the fact from which area they belong then 42% of the card users belong to Tier 1
city whereas 28% belongs to Tier 2 city. On the other hand 18% belong to Tier 3 city and remaining
12% belong to Tier4 city. Considering the fact that what are the occupations of the respondents it
derived that 26% of individuals were in service or were professionals while 39% of them were in
business. On the other hand 12% of them were students and 10% of them were housewives and the
remaining 13% were from other area of work.
When we consider the preference of payment of respondents then we derived that 30% of respondent
prefer to pay in terms of cash and if cards then 32% of the remaining prefer to pay through debit
cards while 24% prefer to pay through credit cards and the remaining 14% will prefer to pay through
cash cards.
On the other hand considering the time duration that since how long the respondent is using the card
I derived that 10% of respondents are using cash cards since last six months only whereas 28% of
them are using it from past 1-2 years. On the other hand 13% of respondents using cash cards from 2-
3 years whereas remaining 49% don‟t use cash cards as they are in favor of using either cash or
debit/credit cards.
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31. The frequency of using credit card in a week is also not that much high as it is being derived that
29% of respondent use their cards less than one time in a week, where as 38% of them use that 1-2
times. 18% of respondents use that between 2-3 times and remaining 15% use that more than 3 times
in a week.
When I considered the fact about the purpose of using cards then 21% of individual prefer to use
cards for shopping whereas 13% prefer that for payment of bills. On the other hand 28% prefer cards
for travel and ticketing and 16% prefer it for their entertainment part. The remaining 22% prefer
using that for all the above mentioned reasons.
Another point was to know the minimum balance being maintained by the respondent in their cash
card and in that I derived that 32% of cash card users maintain less than 500Rs.as their balance where
as 42% of them maintain that between 500-1000. On the other hand 23% of them maintain it between
1000-5000 whereas 3% maintain it more than 5000.
Another point which was there to know about the level of satisfaction from the card service they are
using then in that12% of respondents are very much satisfied with the service whereas 57% are
satisfied. On the other hand 14% states it as indifferent and remaining 17% were dissatisfied.
When it comes to considering the best service given by Itz Cash then 39% of users believe that
Online services are best whereas 45% believes that On Mobile Services are best whereas 16% of
them were in favor of both the services.
Now when I asked the respondent about that how much they are satisfied with Itz Cash then 41% of
respondents are satisfied with Itz Cash whereas 12% of them are not satisfied. On the other hand
11% were not sure about their opinion and remaining 36% were not using cash cards.
And lastly when I asked them to rate the services provided by Itz Cash then 21% of users rated the
service provided by Itz Cash as excellent whereas 38% have rated it as good. On the other hand 29%
of users have rated it as Fair but remaining 12% have rated it poor.
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32. ANNEXURE
Questionnaires on E-recruitment process
1. Gender of the respondent - Male or Female ________________
2. The age group of card user lies between:
i. 15-25
ii. 25-40
iii. 40-60
iv. 60 and above
3. What is the annual income of the respondent?
i.Less than 1lakhs
ii.1-3 lakhs
iii.3-5 lakhs
iv.Above 5lakhs.
4. Which area do they belong?
i.Tier 1 city
ii.Tier 2 city
iii.Tier 3 city
iv.Tier 4 city
5. What is the occupation of the respondent?
i.Serviceman
ii.Businessman
iii.Student
iv.Housewives
v.Others
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33. 6. Which kind of payment mode you prefer to use?
i. Cash
ii. Cards, If Cards then ______________
Debit Card _______Credit Card _______Cash Cards________
7.Since how long you have been using the cash card?
i. Less than 6 months
ii. 1-2 years
iii. 2-4 years
iv.Not using cards.
8. How often do you use card service in a week?
i. Less than1 time
ii. 1-2 times
iii.2-3 times
iv.More than 3 times.
9. For what purpose you prefer to use cash/credit cards?
i. Online Shopping
ii.Bill Payments
iii.Travel/Ticketing
iv.All of the above
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34. 10. How much minimum balance or average balance you maintain in your cash cards?
i. Less than 500 Rs.
ii. 500-1000
iii. 1000-5000
iv.5000 and Above
11. Are you satisfied with the service provided by card services you are using?
i. Very satisfied
ii. Satisfied
iii. Indifferent
iv. Dissatisfied
12. Which is the best service provided by Itz cash?
i. Online Services
ii. On mobile services.
iii. Both.
13. Are you satisfied with the services given by Itz Cash?
i. Yes
ii. No
iii. Fully
iv.Not using
14. How would you rate services of Itz Cash?
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35. i. Good
ii. Fair
iii. Poor
15.Any Suggestions _______________________
BIBLIOGRAPHY:
BOOKS: Ramaswami and Namakumari, Marketing Management,Consumer-Behavior-9thEdition-
Michael Solomon
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36. ARTICLE : P Nelson - The Journal of Political Economy, 1970 - JSTOR
WEBSITES: http://www.itzcash.com/index3.html
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