Promotional Mix Project

7/27/2019 Promotional Mix Project

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CHAPTER – 1

INTRODUCTION TO PROMOTION MIX

1.1 INTRODUCTION:

It is not enough for a business to have good products sold at attractive prices. To generate sales and

profits, the benefits of products have to be communicated to customers. In marketing, this is

commonly known as "promotion".

Promotion is all about comani!s communicatin" #it$ custom!rs.

A business' total marketing communications programme is called the "promotional mix" and consists

of a blend of advertising, personal selling, sales promotion and public relations tools. In this revision

note, we describe the four key elements of the promotional mix in more detail.

It is helpful to define the four main elements of the promotional mix before considering their

strengths and limitations.



1.% MEANIN& ' DE(INITION O( PROMOTION MIX

!romotion is an important part of marketing mix of a business enterprise. nce a product is

developed, its price is determined the next problem comes to its sale i.e., creating demand for the

product. It re#uires promotional activities. The activities are techni#ue which bring the special

characteristics of the product and of the producer to the knowledge of prospective customers.

!romotion is a process of communication involving information, persuasion, and influence. The term

'selling' is often used synonymously with promotion. $ut promotion is wider that selling. %elling is

concerned only with the transfer of title in goods to the purchaser, whereas promotion includestechni#ues stimulating demand. These techni#ues include advertising, salesmanship or personal

selling and other methods of stimulation demand.

Advertising and sales promotion techni#ues are indirect and non&personal whereas personal selling or

salesmanship is a direct and personal techni#ue. All these techni#ues, however, should be integrated

with the marketing obective of the enterprise. The salesmen can report about the different advertising

and other promotional appeals as they are in close touch with the consumer public and market

conditions.

!romotion is essentially the sales efforts of a business enterprise and includes the function of

informing, persuading and influencing the purchase decision of the existing the prospective

consumers with the obect of increasing sales volume and profits. !romotion is the efforts of the

seller to sell the product effectively. !romotion is the communication with the customers to pursue

them to buy the product. It is the duty of the marketing manager to choose the communication media

and blend them into an effective promotion programme. These are more than one type of tools used

(



to promote sales. The combination of these tools with a view to maintain and create sales is known as

promotion mix. !romotion mix is the name given to the combination of methods used in

communicating with customers. There are four tools of promotion mix vi). advertisement, personal

selling, publicity and sales promotion. These are called elements of promotion mix.

*



1.) E*EMENT+ O( PROMOTION MIX

There are four elements of promotion mix+

A,-!rtisin"

Advertising is a non&personal presentation of goods, services or idea. In advertising existing and

prospective customers are communicated the message through impersonal media like radio, T..,

newspapers and maga)ine. It involves transmission of standard message simultaneously to a large

number of people. The message transmitted is known as advertising.

P!rsonal +!llin"

!ersonal selling is the process of assisting and persuading the existing and prospective buyer to buy

the goods or services in person. It involves direct and personal contact of the seller or his

representative with the buyer.

Publicit

!ublicity is a non&personal non&paid stimulation of demand of the product or services or business unit

by planning commercially significant news about the services or business unit by planning

commercially significant news about in the print media or by obtaining a favorable presentation of it

upon radio, television or stage.

+al!s romotion

%ales promotion consists of all activities other than advertising, personal selling and publicity, which

help in promoting sales of the product. %uch activities are non&repetitive and one time offers.

According to American -arketing Association, sales promotion include, "those marketing activities

other than personal selling, advertising and publicity that stimulate consumer purchasing and dealer

effectiveness, such as point of purchase displays, shows and exhibitions, demonstrations and various

non&recurring selling efforts not in the ordinary routine."

The main aim of sales promotion is to increase sales and profits of the firm but it is #uite different

from personal selling and advertising. In personal selling, customer is persuaded by a sales person

face to face. Advertising is a non&personal mass communication media. %ales promotion, on the other

hand, is a non&recurring and non&routine method. Its main aim is to supplement and coordinate the



personal selling and advertising. It is a supporting and facilitating element of promotional strategy.

%ales promotion bridges the gap of advertising and personal selling.

1./ MAR0ETIN& MIX +TRATE&

-arketing mix is a concept proposed in the /01s by marketer, 2. 3erome -c4arthy and has been

widely used by marketers since then. -arketing mix is nothing but a set of tools used by the marketer

to rope in as many customers as possible, so as to gain maximum profits. This marketing mix

comprises four components namely5 !roduct, !rice, !lace and !romotion. These four components are

popularly known as the !'s of marketing mix. A marketer has to use a combination of these !'s to

develop a profit&yielding strategy. The problem is, there's no standard proportion. 6ou have to work

with different permutations and combinations of the !'s and find out what works for your product.

To understand the !'s better, let's have a look at a fishing analogy.

In this analogy we are comparing the marketer to the man and the customer to the fish in the picture.

7owever, it's important to remember this is ust an analogy used to help comprehend the subect

better and should not be taken literally. 8e do not intend to make fun of either the marketer or the

customer. In the analogy the customer 9fish: looks like he is being lured into a trap, however, this is

not true in reality. '4ustomer is the ;ing' and every marketer has to consider the customer's needs,

wants and desires before designing a product. This analogy ust helps understand the !'s better,

which is why it has been used.

<



CHAPTER – %

INTRODUCTION TO 2A3A3 A**IAN4

A$=T T72 4-!A>6

$aa Alliance ?ife Insurance 4o. ?td is a oint venture between two leading 4onglomerates @

Allian) A, one of the worldBs largest insurance companies, and $aa Auto, one of the biggest two

and three wheeler manufacturers in the world. $aa Allian) is one of IndiaBs leading private life

insurance companies. It stands (nd among the private Insurance companies in India and *rd among the

Insurance companies in India. It is one of the fastest growing private life insurance companies in

India. $aa Allian) currently has over *11,111satisfied customers. They are even backed by a

network of << offices spanning the country.

$aa Allian) eneral Insurance 4ompany ?imited, one of India's leading private general

insurance companies, reported a <1 percent increase in gross premium income to (,C<1 million

rupees 9(* million euros: excluding service tax for its business year (11<&0, ending -arch *. >et

profit grew /.C percent to <0 million rupees 9/ million euros:. $aa Allian) eneral Insurance is

aiming for accelerated market penetration in future. "oing forward, the company's focus will

continue to be on growth with underwriting profits, and preparing ourselves for the free pricing

scenario from (11D onwards," said ;amesh oyal, 42. The company, a oint venture company

between $aa Auto ?imited, a leading Indian manufacturer of two& and three&wheeler vehicles and

the Allian) roup, issued *./ million policies over the twelve&month period, the highest rate among

private insurers. Its claim settlement ratio reached /* percent.

ision

E To be the first choice insurer for customers

E To be the preferred employer for staff in the insurance industry.

E To be the number one insurer for creating shareholder value

0



-ission

As a responsible, customer focused market leader, we will strive to understand the insurance

needs of the consumers and translate it into affordable products that deliver value for money.

A !artnership $ased on %ynergy$aa Allian) eneral Insurance offers technical excellence in all areas of eneral and 7ealth

Insurance as well as Fisk -anagement. This partnership successfully combines $aa Auto's in&depth

understanding of the local market and extensive distribution network with the global experience and

technical expertise of the Allian) roup. As a registered Indian Insurance 4ompany and a capital

base of Fs. 1 crores, the company is fully licensed to underwrite all lines of general insurance

business including health insurance.

ur Achievements

$aa Allian) has received "iAAA rating, from I4FA ?imited, an associate of -oody's

Investors %ervices, for 4laims !aying Ability.This rating indicates highest claims paying ability and a

fundamentally strong position.

D



CHAPTER 5 )

RE+EARCH METHODO*O&

The obective of the present study can be accomplished by conducting a systematic market

research. -arket research is the systematic design, collection, analysis and reporting of data and

findings that are relevant to different marketing situations facing the company. The marketing

research process that will be adopted in the present study will consist of the following stages+

a. D!6inin" t$! robl!m an, t$! r!s!arc$ ob7!cti-!:

The research obective states what information is needed to solve the problem. The obective

of the research is to derive the opinion of the users and opinion of the potential customers.

b. D!-!loin" t$! r!s!arc$ lan:

nce the problem is identified, the next step is to prepare a plan for getting the information

needed for the research. The present study will adopt the exploratory approach wherein there is a

need to gather large amount of information before making a conclusion. If re#uired, the descriptive

and casual approaches may also be used.

c. Coll!ction an, +ourc!s o6 ,ata:

-arket research re#uires two kinds of data, i.e., primary data and secondary data. $eing a

firm in financial services, data gathering will involve usage of both primary and secondary data

though there 8ill be an extensive usage of primary data. 8ell&structured #uestionnaires will be

prepared for both the existing and potential customers. There will be personal interview surveys

mostly in&home 9door&to&door: surveys. The #uestionnaires will contain both open&ended and close&

ended #uestions. 7ere, open&ended #uestions will be more useful, as it is an exploratory research

being conducted, wherein the main obective is to get an insight into how investors think. %econdary

data will be collected from various ournals, books and web sites.

C



,. Anal8! t$! coll!ct!, in6ormation:

This involves converting raw data into useful information. It involves tabulation of data, using

statistical measures on them for developing and calculating the averages.

!. R!ort r!s!arc$ 6in,in"s:

This phase will mark the culmination of the marketing research effort. The report with the

research findings is a formal written document. The research findings and personal experience will be

used to propose recommendations to develop the performance of the organi)ation.

RE+EARCH DE+I&N:

9A research design is arrangement of conditions for collection and analysis of data in a

manner that aims to combine relevance to the research purpose with economy in procedureG.

Hescriptive research studies are those studies, which are concerned with describing the

characteristics of a particular individual

+AMP*E DE+I&N:

A sample design is a definite plan for obtaining a sample from a given population. It refers to the

techni#ue or procedure that the researcher would adopt in items for the sample.

T! o6 saml! ,!si"n:

I have selected my sampling design as >on& Fandom %ampling in that also my sampling

type is convenience sampling this is based on the convenience of the researcher. It is not that much

easy to identify potential customer, I need to go their, communicate with them and then sell theconcept of the and life insurance to the customers who re#uire the products

Natur! o6 t$! Pro7!ct

/



To analy)e briefly about the companies products and also the promotional strategies

following for the development of the company. Through this research we can also know about

the customer, competitors of the company.

There is more competition in this industry so there is a need to retain the customer with the

organi)ation. %o to sustain in the market the company has to follow various strategies by attracting

new investors and to retain the existing investors.

a: A?=2 AHHITI> T FA>IATI>

. They can able to know for what extent there promotional strategies helping to increase the

business.

(. They can able to know for extent the customers aware of there products.

*. If any necessary changes should be taken if any lacking is there.

b: A?=2 AHHITI> T -6%2?J

. It is a opportunity to apply the concepts learnt in the class room to real life situations

(. I came to know the nuances of a work place by assigning time bound ness in the company.

*. It is a platform to work and develop a network which will be useful to my career prospects.

bective of executive training

ur main obective is to selling the various life insurance policies and creating need to

the customer to save their amount.

To create awareness among the customers about different products of 4entrum direct.

bectives of management thesis

1



The main aim of the present study is to accomplish the following obectives+

!rimary bective+

To know the promotional strategies of the company and what extent that strategies helped

the company to develop in the competitive market.

%econdary bective+

=p to what extent the people are aware of there policies.

8hich product has increased the company

CHAPTER 5 /

INDU+TR ANA*+I+

2ri!6 Histor o6 Insuranc! +!ctor in In,ia

The insurance sector in India has come a full circle from being an open competitive market to

nationali)ation and back to a liberali)ed market again.

Tracing the developments in the Indian insurance sector reveals the *01&degree turn witnessed over a

period of almost /1 years.

The business of life insurance in India in its existing form started in India in the year CC with the

establishment of the riental ?ife Insurance 4ompany in 4alcutta.

%ome of the important milestones in the life insurance business in India are+

11% & The Indian ?ife Assurance 4ompanies Act enacted as the first statute to regulate the life

insurance business.



1%; & The Indian Insurance 4ompanies Act enacted to enable the government to collect statistical

information about both life and non&life insurance businesses.

1); & 2arlier legislation consolidated and amended to by the Insurance Act with the obective of

protecting the interests of the insuring public.

1<= & (< Indian and foreign insurers and provident societies taken over by the central government

and nationali)ed. ?I4 formed by an Act of !arliament, vi). ?I4 Act, /<0, with a capital contribution

of Fs. < crore from the overnment of India.

The eneral insurance business in India, on the other hand, can trace its roots to the Triton Insurance4ompany ?td., the first general insurance company established in the year C<1 in 4alcutta by the

$ritish.

%ome of the important milestones in the general insurance business in India are+

1>? & The Indian -ercantile Insurance ?td. set up, the first company to transact all classes of

general insurance business.

1<? & eneral Insurance 4ouncil, a wing of the Insurance Association of India, frames a code of

conduct for ensuring fair conduct and sound business practices.

1=; & The Insurance Act amended to regulate investments and set minimum solvency margins and

the Tariff Advisory 4ommittee set up.

1?% & The eneral Insurance $usiness 9>ationali)ation: Act, /D( nationali)ed the general

insurance business in India with effect from st 3anuary /D*.

1>? insurers amalgamated and grouped into four companies vi). the >ational Insurance 4ompany

?td., the >ew India Assurance 4ompany ?td., the riental Insurance 4ompany ?td. and the =nited

India Insurance 4ompany ?td. I4 incorporated as a company.

(



T$! 6unctions o6 Insuranc! can b! bi6urcat!, into t#o arts

. !rimary Junctions

(. %econdary Junctions

*. ther Junctions

T$! rimar 6unctions o6 insuranc! inclu,! t$! 6ollo#in":

!rovide !rotection & The primary function of insurance is to provide protection against future risk,

accidents and uncertainty. Insurance cannot check the happening of the risk, but can certainly provide

for the losses of risk. Insurance is actually a protection against economic loss, by sharing the risk with

others.

4ollective bearing of risk & Insurance is a device to share the financial loss of few among many

others. Insurance is a mean by which few losses are shared among larger number of people. All the

insured contribute the premiums towards a fund and out of which the persons exposed to a particular

risk is paid.

*



Assessment of risk & Insurance determines the probable volume of risk by evaluating various factors

that give rise to risk. Fisk is the basis for determining the premium rate also

!rovide 4ertainty & Insurance is a device, which helps to change from uncertainty to certainty.

Insurance is device whereby the uncertain risks may be made more certain.

The secondary functions of insurance include the following+

!revention of ?osses & Insurance cautions individuals and businessmen to adopt suitable device to

prevent unfortunate conse#uences of risk by observing safety instructions5

installation of automatic sparkler or alarm systems, etc. !revention of losses cause lesser payment to

the assured by the insurer and this will encourage for more savings by way of premium. Feduced rateof premiums stimulate for more business and better protection to the insured.

%mall capital to cover larger risks & Insurance relieves the businessmen from security investments, by

paying small amount of premium against larger risks and uncertainty.

4ontributes towards the development of larger industries & Insurance provides development

opportunity to those larger industries having more risks in their setting up. 2ven the financial

institutions may be prepared to give credit to sick industrial units which have insured their assets

including plant and machinery.

The other functions of insurance include the following:

-eans of savings and investment & Insurance serves as savings and investment, insurance is a

compulsory way of savings and it restricts the unnecessary expenses by the insured's Jor the purpose

of availing income&tax exemptions also, people invest in insurance.

%ource of earning foreign exchange & Insurance is an international business. The country can earn

foreign exchange by way of issue of marine insurance policies and various other ways.



Fisk Jree trade & Insurance promotes exports insurance, which makes the foreign trade risk free with

the help of different types of policies under marine insurance cover.

In,ia Insuranc!

The end of the year (111 marks a significant change and growth of 'India InsuranceB industry

scenario.

-onopoly of !ublic %ector Insurance company marks an end and !rivate companies makes inroad.

Joreign companies, both ?ife and eneral flocked, collaborated and helped astronomical growth of

'Insurance Industry in India'.

'India Insurance' growth was long overdue. 8ithin st ( months of liberation of 'Indian Insurance

Industry' 1 licenses for selling life insurance products and 0 licenses for selling non&life products

were issued to private companies.

The !ublic sector giant ?I4 started losing its market share at the cost of stupendous growth of private

players.

>ow 'India Insurance' industry has more than a do)en private life insurance players and / private

general insurance companies. Aggressive and penetrative marketing strategy coupled with wide

product bandwidth was an instant success among the ignorant masses.

-ost of the private companies registered more than 11K growth till then and are still continuing

with such monstrous growth figures.

Although, 'Insurance in India' is not regarded as a basic need but it is getting popular among semi

urban to rural masses.

Top rank private companies like I4I4I !rudential ?ife Insurance, Tata AI,

$aa Allian) etc are aggressively researching and innovating products for huge untapped rural 'India

Insurance' market.

4ollaboration with micro finance companies, post offices, rural banks and village management

authorities for selling insurance is doing wonders.

?ife insurance products covers risk for the insurer against eventualities like death or disability. >on&

life insurance products covers risks against natural calamities, burglary, etc. They are not as popular

as life products in the ' Insurance India's' portfolio. =ntil very recently it had only corporate buyers,

<



but with natural disasters like, earth #uakes, tsunamis, storms and floods becoming more fre#uent and

damaging there has been a sudden spurt in sales of general insurance amongst individuals.

4onsumerism of life style goods and modern amenities has also contributed to its growth. 8ith more

awareness and wide bandwidth of insurance product portfolio the growth for 'India Insurance' story

will only get more competitive and more affordable to all sections of Indian society.

r: %>>>5%>>1 + 9 From 2nd April '2000 to 31st December'2001:

Insurance Industry in the year (111&(11 had 0 new entrants, namely+

*i6! Insur!rs:

%.>

o.

Fegist

ration

>umb

er

Hate of Feg. >ame of the 4ompany

1 (*.1.(111 7HJ4 %tandard ?ife Insurance 4ompany ?td.

( 1 <..(111 -ax >ew 6ork ?ife Insurance 4o. ?td.

0

http://www.hdfcinsurance.com/

http://www.maxnewyorklife.com/

http://www.hdfcinsurance.com/

http://www.maxnewyorklife.com/



* 1< (..(111 I4I4I !rudential ?ife Insurance 4ompany ?td.

1D 1.1.(11 ;otak -ahindra ld -utual ?ife Insurance ?imited

< 1/ *.1.(11 $irla %un ?ife Insurance 4ompany ?td.

0 1 (.1(.(11 Tata AI ?ife Insurance 4ompany ?td.

D *1.1*.(11 %$I ?ife Insurance 4ompany ?imited .

C 1(.1C.(11 I> ysya ?ife Insurance 4ompany !rivate ?imited

/ 0 1*.1C.(11 $aa Allian) ?ife Insurance 4ompany ?imited

1 D 10.1C.(11 -etlife India Insurance 4ompany !vt. ?td.

** 1.1/.(11D Juture enerali India ?ife Insurance 4ompany

&!n!ral Insur!rs +

+.No. R!"istrati

on

Numb!r

Dat! o6

R!"istration

Nam! o6 t$! Coman

1( (*.1.(111 Foyal %undaram Alliance Insurance 4ompany ?imited

( 1* (*.1.(111 Feliance eneral Insurance 4ompany ?imited.

* 10 1.(.(111 IJJ4 Tokio eneral Insurance 4o. ?td

1C ((.1.(11 TATA AI eneral Insurance 4ompany ?td.

< * 1(.1<.(11 $aa Allian) eneral Insurance 4ompany ?imited

D

http://www.iciciprulife.com/

http://www.omkotakmahindra.com/

http://www.birlasunlife.com/

http://www.tata-aig.com/

http://www.sbilife.co.in/

http://www.ingvysyalife.com/

http://www.allianzbajaj.co.in/

http://www.metlife.co.in/

http://www.royalsundaramalliance.com/

http://www.reliancegeneral.co.in/

http://www.itgi.co.in/


http://www.bajajallianz.co.in/

http://www.iciciprulife.com/

http://www.omkotakmahindra.com/

http://www.birlasunlife.com/


http://www.sbilife.co.in/

http://www.ingvysyalife.com/

http://www.allianzbajaj.co.in/

http://www.metlife.co.in/

http://www.royalsundaramalliance.com/

http://www.reliancegeneral.co.in/

http://www.itgi.co.in/


http://www.bajajallianz.co.in/



0 < 1*.1C.(11 I4I4I ?ombard eneral Insurance 4ompany ?imited.

D * 1*&1C&(11D Apollo H; Insurance 4ompany ?imited

C *( 1&1/&(11D Juture enerali India Insurance 4ompany ?imited

r: %>>15%>>% + 9 Jrom st 3an (11 to Hec. (11(:

Insurance Industry in this year, so far has <new entrants5 namely

*i6! Insur!rs:

+.No. R!"istration

Numb!r

Dat! o6 R!". Nam! o6 t$! Coman

( 1*.1.(11( A-! %anmar ?ife Insurance 4ompany ?imited.

( (( .1<.(11( Aviva ?ife Insurance 4o. India !vt. ?td.

&!n!ral Insur!rs+

+.No. R!"istrati

on

Numb!r

Dat! o6

R!"istration

Nam! o6 t$! Coman

C

http://www.icicilombard.com/

http://www.avivaindia.com/

http://www.icicilombard.com/

http://www.avivaindia.com/



(* <.1D.(11( 4holamandalam eneral Insurance 4ompany ?td.

(. ( (D.1C.(11( 2xport 4redit uarantee 4orporation ?td.

*. (< (D.1C.(11( 7HJ4&4hubb eneral Insurance 4o. ?td.

r: %>>)5%>>/ + 9 Jrom st 3an (11* till Hate:

Insurance Industry in this year, so far has new entrants5 namely

*i6! Insur!rs:

+.No. R!"istratio

n

Numb!r


(D 10.1(.(11 %ahara India Insurance

4ompany ?td.

r: %>>/5%>>< +

Insurance Industry in this year, so far has new entrants5 namely

*i6! Insur!rs:

+.No. R!"istration

Numb!r


/

http://www.cholainsurance.com/

http://var/www/apps/conversion/tmp/scratch_5/http%3B//www.ecgcindia.com

http://www.hdfcchubbindia.com/

http://www.saharalife.com/


http://www.cholainsurance.com/

http://var/www/apps/conversion/tmp/scratch_5/http%3B//www.ecgcindia.com

http://www.hdfcchubbindia.com/





(C D..(11< %hriram ?ife Insurance

4ompany ?td.

CHAPTER 5 <

COMPETITOR+

As a matter of competitors in the market there are so many companies coming up.

Among all the companies there are at most companies are giving a tight competition for this

company. They are

7HJ4 standard life

I4I4I prudential life insurance Aviva life insurance

Tata aig life insurance

%$I life insurance

DI((RENTIATION O( THE PRODUCT+

The products which are developing by the company were very much suitable for every Indian

customer.

(1



They are providing valuable L flexible services for the customers.

They are maintaining a good or everlasting customer relation ship.

The main reason behind the growth of the company was a high commission rates providing for

the advisors.

2OD O( THE+I+

-y research was to know about promotional mix of insurance products offered

and its importance on the business growth of the $A3A3 A??IA>42 company.

I studied about the company for at most all for (months period and I came to know the following

things

CHAPTER 5 =

PROMOTIONA* ACTI@ITIE+

The most important strategy following by the company was recruitment of insurance

consultants for the company.

It is the first private insurance company entered in to the rural market.

BAJAJ ALLIANZ SUPER AGENT

=

SUPER SERVICE

(



+

SUPER ADVICE

+

SUPER FOLLOW UP’S

+

SUPER CUSTOMISED SOLUTIONS

=

SUPER CUSTOMER SATISFACTION

!romotional mix of insurance products

Fight know company has so many typesB products which will suitable for Indian people.

9: TFAHITI>A? !?I4I2%

9(: !2>%I> !?I4I2%

9*: =>IT ?I>;2H !?I4I2%

9: 72A?T7 !?I4I2%

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4AF2 JIF%T

Prot!ctor

A Mort"a"! R!,ucin" T!rm Insuranc! Plan

This is the perfect plan to protect the family from the repayment liability of outstanding loans, in the

unfortunate case of death of the loaner. There is also an option to cover the co& applicant of the loan

at a very nominal cost under this plan...

C$il, &ain

4hildren's !olicy

Fight from providing for your child's education to securing a bright future, this plan is tailor& made to

suit your child's needs...

Cas$ &ain

Mon! 2ac Plan

This is the only money back plan that offers #uadruple protection, going upto times the basic sum

assured, and a family income benefit

+#arna @is$ranti

R!tir!m!nt Plan

In addition to life insurance and attractive tax benefits, this plan enables you to make ade#uate

provisions for your years after retirement as well...

(



In-!st &ain

An En,o#m!nt Plan

This savings plan combines high protection 9up to #uadruple cover: with a uni#ue family income

benefit

Term !lan with Feturn&of&!remium

An economic way of providing life cover, this plan also ensures the return of all premiums at the time of

maturity...

*i6!tim! Car!

B$ol! *i6! Plan

This whole life plan provides survival benefits at the age of C1 thereby making sure you are financially

secure at the time when you need it the most...

;26-A> I>%=FA>42

A Promisin" 2usin!ss Oortunit

The thumb rule for buying insurance is that your insurance needs are minimal in your early earning

years, increase with added responsibilities 9-arriage, children, loans etc.: and taper off by the time

you retire. It is difficult to find a single

(<



insurance plan that can take care of all your changing re#uirements in life @ additional protection,

more money to invest, sudden re#uirement of cash or a steady post&retirement income

N!# Unit &ain Eas P!nsion Plus

=nit ?inked Fetirement !lan without life cover

$aa Allian) =nitain 2asy !ension, is a plan that helps you take control of your future and ensure a

retirement you can look forward to. This is a regular premium investment linked deferred annuity

policy. Available as+ =nitain 2asy !ension Fegular !remium M =nitain 2asy !ension %ingle

!remium

H!alt$Car!

This is a three&year health insurance plan, providing comprehensive health cover with life insurance

benefit. 6ou can choose the amount of cover for each benefit separately in multiples of the minimumcover amount, subect to a maximum multiple of 1.

Caital Unit &ain

$ig $oss of all =?I!%

4apital =nitgain is a unit linked endowment regular premium plan that is designed to suit all

your insurance M investment needs

roup !lans

&ROUP CREDIT +HIE*D

Available for 2mployer & 2mployee roups

and >on 2mployer&2mployee roups

&ROUP TERM *I(E

Available for 2mployer & 2mployee roups

and >on 2mployer&2mployee roups

&ROUP TERM *I(E +CHEME

in lieu of 2H?I 92mployees Heposit ?inked Insurance

NEB &ROUP +UPERANNUATION +CHEME

Assure your 2mployees a financially secured, stable and independent post retirement

life

(0

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>28 F=! FAT=IT6 4AF2 %472-2

iving your 2mployees and their families the heartening reassurance of your care

and financial security

CHAPTER 5 ?

ON THE 3O2 TRAININ&

In the survey conducted on 9selling of * policies with Fs <,111 premium per month for $aa

Allian) life insuranceG. I have collected the information from various people and rgani)ations with

the help of a structured Nuestionnaire.

In this survey I have collected the information from different people who are having life insurance

and their opinion about insurance, their satisfactory levels.

(D

http://www.allianzbajaj.co.in/lifeinsurance/products/group.asp#ggcs%23ggcs





In the above survey I went with marketing executives and learned about life Insurance.

Introduction

4ompany has assigned me a target generate business worth of Fs ,C1,111 and recruiting

of *icBs .

Huring these ( months. ur company guides are helping a lot in explaining each

and every point regarding in achieving our targets. Till now I undergone training

%ections and also participated in their office works and had learned all the manual

8orks that take place in 4entrum direct. .ur ob is to collect data base from

!rospective customers, and sell policy and give them It to company. I am doing my

!roect under our company uide -rs.%7A-A?A devigaru -y company people are %howings the

potential areas, we need to go there and %urvey that area at last we are

%upposed to submit the report. -y theoretical knowledgeBs helping a lot in 4onvincing the

customers to give their details like that, being professional they are allowing us tomake a talk with them. $y the completion of -y proect I am surely can say that the

person with good communication skills, !atience and a little bit of knowledge is

enough to be a marketing manager. 8hile 4oming to the point of achievements,

our 3ob is to collect database and the finally selling the policyBs still now. %o it will

take some time to get the results. I am so happy with the 3T and with my work.

Tar"!ttass

TAR&ET+

%elling of insurance policy worth F%.<, 111 for month.

And recruiting I.49insurance consultancy:for months.

TA+0+

To generate a business worth of Fs ,C1,111

(C



Fecruiting of 1 ics for four months period

Ac$i!-!m!nts+

I generated a business worth of rs *,11,111 for the company still continuing

Feceived pre @ placement offer letter, corporate honor certificate, appreciation letter.

A memento from the company.

CHAPTER 5 ;

DATA ANA*+I+

(/



1. P!ol! Int!r!st!, in insuranc! Pro,uct on t$!ir a"!

*1

A&E O( IN@E+TOR+

1&(1 /

(1&*1 D

*1&1 **

1&<1 (

<1&01 (1



0

5

10

15

20

25

30

35

% OF INVESTORS

10 to2020 to 30

30 to 40

40 to 50

50 to60

This graph represents the perceptions of people towards insurance according to age factor. !eople

between the age group of *1&1 are more interested to invest in insurance than people in the

remaining age groups. !eople between age group of 1&01 are also interested but in less number.

!eople between age group between 1&(1 are not that much interested because they donBt know the

insurance.

*



(. Oinion o6 !ol! int!r!st!, on ,i66!r!nt t! o6 ro,uct

OPINION+ O( PRODUCT O( INTER+TED

=?I! *

47I?H AI> 1

72A?T7 4AF2 (*

F=! !?A>% 1C

!2>%I> !?A>% 0

Int!rr!tation:

in this survey, I came to conclude that *K of total investors made their investment in =?I! product

based on the high returns from the mutual funds and, (* K of investors made their investment inhealth care based on the safety their health and 1K of investors made their investment child gain

based on the their child future and The remaining (K of investors made their investment obective

based up on the tax benefit they get through insurance.

*(



*. +atis6actor l!-!ls o6 !ol! to#ar,s 2a7a7 Allian8

%atisfactory levels of !eople K of !eople

Jully %atisfied (<

%atisfied *D

!artially %atisfied 1

>ot %atisfied (C

Int!rr!tation+

In this survey, I came to conclude that (<K of total investors are fully satisfied by investing in

insurance, *DK of investors are satisfied and 1K are partially satisfied, by investing in insurance.

The remaining (CK of investors are not satisfied because of various reasons.

**

Satisfactory levels of people

Fully Satisfied

Satisfied

Partially Satisfied

Not Satisfied



/. In-!stm!nt ,!cision o6 !ol! to#ar,s 2a7a7Allian8 li6! insuranc!

Investment decision K of !eople

4ompanyL$rand alue 0

Jund !erformance 0

Tax $enefits (1

Int!rr!tation:

In the survey I came to conclude that (K of people are investing by Tax benefits because only

business people invest for their tax benefits. 0CK of people are investing due to fund performance

because middle class people expect high returns and rest of the people basing on company brand

value.

*

Ivest!et "ecisio of people

Company/Brand

Value

Fund

Performance

Tax Benefits



<. Pr!6!rrin" o6 insuranc!

*<

OPTION O( CU+TOMER+

security (<

Assured in returns *

?ess risk (

Tax benefits (1



Interpretation

(<K of investors felt that mutual funds are OsecurityB , *K of investors felt that insurance

can give more OreturnsB, (K of investors felt that insurance have Oless riskB , (1K of investors felt

that insurance have tax benefits.

0. T! o6 Insuranc! P!ol! r!6!rrin"

Investment option K of !eople

6early *<

*0

0

10

20

30

0

!0

" #F C$ST#%&'S

#referri$ of %&t&al F&"s

security

(ssured in

returns

)ess ris*

Tax +enefits



Nueerly D

7alf yearly (C

0

10

20

30

0

!0

1 2 3

Series1

Interpretation

Jrom the above graph we can conclude that at about DK of the customers would like to invest their

money on short term basis, and about *<K of the customers would like invest their amount in long

term basis and (CKof customers would like to invest their money through systematic investment

plan.

CHAPTER 5

(INDIN&+ ' +U&&E+TION+

-any people between the age group of (<&01 years are interested to invest in insurance.

!eople in the age group below / years and more than 01 years are less interested to invest in

insurance because they donBt want to take any risk.

*D



-any people are interested to invest in insurance because of high returns, tax benefits.

-ost of the business people, employees who are working in financial institutions have

awareness about mutual insurance than other category of people. !eople who are in the

middle of their careers are more interested in investing.

To invest in insurance most of the persons prefer a time hori)on of one to three years.

Approximately /<K of the investors opined that investing in insurance is good.

!ersons who earn 1,111 and more interested to invest in insurance.

-ore -iddle class people who have awareness about insurance are showing interest to invest

as systematic investment plan.

-ore people are interested to invest in insurance who have good past performance.

+u""!stion

After a detailed study of the company I came to know that there is a lacking in the market

They should concentrate mostly on the electronic medid, advertisements.

They should decrease the commission rates for the insurance consutants.

CHAPTER 5 1>

CONC*U+ION:

*C



The 3T has been very helpful in developing the soft skill area, boosting the confidence and

also understanding the application of theory learned in the classroom. Also it has been helpful to

enhance knowledge in terms of various functional aspects of organi)ation, products and industry.

A part from given practical exposure to me, 3T is beneficial to organi)ation also as it provides

platform to the organi)ation to experiment different low cost activities and enhancing with channel

partners

CHAPTER 5 11

2I2*IO&RAPH

*/



www.baaallian).com

www.irda.gov.in

www.investopedia.comLtermsLlLlifeinsurance .as

www.policyba)aar.comL...L?ife & insurance Lwhat& life & insurance .html

www.publishyourarticles.netLknowledge&hubL...Lpromotion&mix.html

u!stionnair!

1

http://www.bajajallianz.com/

http://www.irda.gov.in/

http://www.investopedia.com/terms/l/lifeinsurance.as


http://www.policybazaar.com/.../Life-insurance/what-life-insurance.html


http://www.bajajallianz.com/

http://www.irda.gov.in/





>ame+

Age+

Hesignation+

Address

!hone >o.

-obile >o.

2mail IH

Annual income

Tax payment

Jamily members

4hildrenBs male 9 : female 9 :

Age 9 : Age 9 :

Ho you know the $aa Allian)P

6es 9 : >o 9 :

Are you interested in=?I!%

6es 9 : >o 9 :

%hare marketing

6es 9 : >o 9 :

7ow do came to know about the baa allian)

Jriends 9 : Felatives 9 : others 9 :

Promotional Mix Project

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