Kia, Skoda, PNB, Canara Bank, HDFC, Amazon, Ajio, Tata Cliq make to the top for service excellence
- Index of Service Excellence in India 2023 by JAGSoM (Jagdish Sheth School of Management) findings choose winners from over 6,600 respondents –
Kolkata , 26th December 2023: Car-makers Kia India and Skoda Auto India emerged as leaders in the automobile sector for service excellence, according to an extensive pan-Indian study done by JAGSoM (Jagdish Sheth School of Management) .
The study – Index of Service Excellence in India 2023 (iSEI) – was conducted recently across Automobile Service, Retail Banking, E-Commerce (Grocery) and E-Commerce (Apparel) segments, using a sample size of 6600 respondents in mega-metros, metros and mini-metros.
In Retail Banking, Punjab National Bank, Canara Bank and the Union Bank of India topped the findings in the public sector category, while HDFC Ltd and HSBC India were found to be the top two in the private sector.
For services in E-Commerce (Grocery), Amazon India and Zepto bagged the top positions. In the apparel segment, Ajio, Tata Cliq and Myntra gained the lead rankings.
The iSEI findings were unveiled by the AIM-Parasuraman Centre for Service Excellence, at The Jagdish Sheth School of Management (JAGSoM), recently at an event attended by industry leaders and marketing scholars of global repute from schools like Yale, Texas A&M & INSEAD.
The study stems from AIM-Parasuraman Centre recognizing the need to formulate a measurement standard for service excellence in India that could help organizations get a holistic measure of how they are performing in comparison to their peers in their sector. The iSEI is a measure that is theoretically anchored, methodologically rigorous, and tested by a team led by Dr. A Parasuraman, globally acclaimed for his insights on service marketing.
Professor A. Parasuraman, Emeritus Professor, University of Miami, Mentor, AIM-Parasuraman Centre for Service Excellence, JAGSoM Pro-Chancellor (Academics), Vijaybhoomi University in his presentation explained, “Service excellence in India thrives on understanding customer needs, bridging gaps, and fostering experiences. Embracing systematic efforts like the service excellence index is vital, empowering companies to measure and elevate service quality. The conceptual framework, GAPS Model, and SERVQUAL Scale, E-service quality serve as guiding lights. Reflecting on 2023’s Pan India study, core dimensions like tangibles, reliability, responsiveness, assurances, and empathy define service excellence. Notably, closing internal gaps and aligning organizational insights with customer expectations pave the way. Companies leveraging the ISEI for in-depth analysis and applying Gaps Model internally foster service excellence.”
Mr. Kamal Bali, President and Managing director of Volvo group India, expressed his thoughts at JAGSOM’s ‘Service of Excellence Awards. “In the journey of excellence, we measure our strides, knowing that what gets measured gets done. Speaking about the service sectors, it contributes almost 55% to the country’s GDP. What will last in the Indian market is transforming products and brands into lasting services providers. India is on track to becoming the 3rd largest world economy because India’s – GDP has grown at a rate of 7.7% as opposed to the assumed rate of 6.4 to 6.8 %. Every company will eventually morph into a digital / tech company, with data privacy and security as the new oil, the ones who capture today’s trends will evolve and lead in the upcoming decades.”
The iSEI will be an annual study and in 2024 the plan is to add three additional sectors: Airlines, Insurance and Health Care.
About Jagdish Sheth School of Management (JAGSoM)
JAGSoM is today amongst the 12 leading Indian B-schools which are AACSB accredited and which feature in the QS World University Global Rankings 2024. JAGSoM is ranked in the QS Business Masters Global Rankings 2024 in the 101+ Band for PGDM Marketing, 101+ Band for PGDM Business Analytics, and 151+ Band for PGDM Finance. JAGSoM is also ranked Number 2 amongst B-Schools in Bangalore. It has emerged as a Top Business School in terms of Future Orientation and Learning Experience. JAGSoM is Ranked All-India Number 10 for Future Orientation and Ranked All-India Number 14 for Learning Experience by the Business Today – MDRA Business School Rankings 2023. JAGSoM is Ranked Number 13 amongst the Private Business Schools of India by the Business Today – MDRA Business School Rankings 2023.
About AIM-Parasuraman Centre for Service Excellence
The overall aim of the Center is to serve as a catalyst for making significant contribution to the area of Service Excellence through collaboration between research scholars and corporates to enable a collective wave of interest in achieving excellence in this area. The Center is led by Prof. A Parasuraman. He has been included among the 50 leading marketing thinkers in the world. He is Emeritus Professor of Marketing and James W McLamore Chair Emeritus, University of Miami, USA & Pro-Chancellor of Vijaybhoomi University, Greater Mumbai.