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 com ani!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 includes techni#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 ob'ective 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 ob'ect 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&1

-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 sub'ect 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

$a'a' Alliance ?ife Insurance 4o. ?td is a 'oint venture between two leading 4onglomerates @ Allian) AA, one of the worldBs largest insurance companies, and $a'a' Auto, one of the biggest two and three wheeler manufacturers in the world. $a'a' 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. $a'a' Allian) currently has over *11,111satisfied customers. They are even backed by a network of << offices spanning the country. $a'a' Allian) Aeneral 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:. $a'a' Allian) Aeneral Insurance is aiming for accelerated market penetration in future. "Aoing 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 Aoyal, 42". The company, a 'oint venture company between $a'a' Auto ?imited, a leading Indian manufacturer of two& and three&wheeler vehicles and the Allian) Aroup, 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 $a'a' Allian) Aeneral Insurance offers technical excellence in all areas of Aeneral and 7ealth Insurance as well as Fisk -anagement. This partnership successfully combines $a'a' Auto's in&depth understanding of the local market and extensive distribution network with the global experience and technical expertise of the Allian) Aroup. 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 $a'a' 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.

CHAPTER 5 ) RE+EARCH METHODO*O&1

The ob'ective 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 ob'ective states what information is needed to solve the problem. The ob'ective of the research is to derive the opinion of the users and opinion of the potential customers. b. D!-!lo in" 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 ob'ective is to get an insight into how investors think. %econdary data will be collected from various 'ournals, books and web sites. C

,. Anal.8! 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 sam l! ,!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 the concept 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" "FAA>IIATI"> . 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. "b'ective of executive training "ur main ob'ective 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.

"b'ectives of management thesis 1

The main aim of the present study is to accomplish the following ob'ectives+ !rimary "b'ective+ To know the promotional strategies of the company and what extent that strategies helped the company to develop in the competitive market.

%econdary "b'ective+ =p to what extent the people are aware of there policies. 8hich product has increased the company

CHAPTER 5 / INDU+TR1 ANA*1+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 C C with the establishment of the "riental ?ife Insurance 4ompany in 4alcutta. %ome of the important milestones in the life insurance business in India are+ 1:1% & 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 ob'ective 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 Aovernment of India. The Aeneral insurance business in India, on the other hand, can trace its roots to the Triton Insurance 4ompany ?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:<? & Aeneral 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 Aeneral 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. AI4 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 rate of 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 Aeneral 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 AIA, $a'a' 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. 1r: %>>>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:
%.> Fegist Hate of Feg. o. ration >umb er 1 ( 1. (*. 1.(111 <. .(111 7HJ4 %tandard ?ife Insurance 4ompany ?td. -ax >ew 6ork ?ife Insurance 4o. ?td. >ame of the 4ompany

1<

(..

.(111

I4I4I !rudential ?ife Insurance 4ompany ?td.

1D

1.1 .(11

;otak -ahindra "ld -utual ?ife Insurance ?imited

< 0 D C

1/ 1

* .1 .(11 (.1(.(11 *1.1*.(11

$irla %un ?ife Insurance 4ompany ?td. Tata AIA ?ife Insurance 4ompany ?td. %$I ?ife Insurance 4ompany ?imited . I>A ,ysya ?ife Insurance 4ompany !rivate ?imited

1(.1C.(11

/ 1

0 D **

1*.1C.(11 10.1C.(11 1..1/.(11D

$a'a'

Allian)

?ife

Insurance

4ompany

?imited

-etlife India Insurance 4ompany !vt. ?td. Juture Aenerali India ?ife Insurance 4ompany

&!n!ral Insur!rs +
+.No. R!"istrati Dat! o6 on Numb!r 1( ( * . < 1* 10 1C * (*. 1.(111 (*. 1.(111 1.. (.(111 ((.1 .(11 1(.1<.(11 Foyal %undaram Alliance Insurance 4ompany ?imited Feliance Aeneral Insurance 4ompany ?imited. IJJ4" Tokio Aeneral Insurance 4o. ?td TATA AIA Aeneral Insurance 4ompany ?td. $a'a' Allian) Aeneral Insurance 4ompany ?imited D R!"istration Nam! o6 t$! Com an.

0 D C *

<

1*.1C.(11 1*&1C&(11D 1.&1/&(11D

I4I4I ?ombard Aeneral Insurance 4ompany ?imited. Apollo H;, Insurance 4ompany ?imited Juture Aenerali India Insurance 4ompany ?imited

*(

1r: %>>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 ( 1*.1 .(11( A-! %anmar ?ife Insurance 4ompany ?imited. Dat! o6 R!". Nam! o6 t$! Com an.

((

..1<.(11(

Aviva ?ife Insurance 4o. India !vt. ?td.

&!n!ral Insur!rs+
+.No. R!"istrati Dat! o6 on Numb!r C R!"istration Nam! o6 t$! Com an.

(* (. *. (. (<

<.1D.(11( (D.1C.(11( (D.1C.(11(

4holamandalam Aeneral Insurance 4ompany ?td. 2xport 4redit Auarantee 4orporation ?td. 7HJ4&4hubb Aeneral Insurance 4o. ?td.

1r: %>>)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. Dat! o6 R!". Nam! o6 t$! Com an.

1r: %>>/5%>>< + 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$! Com an.

(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. 2OD1 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 UPS + 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%

((

TFAHITI">A? !"?I4I2% I>,2%T-2>T AAI> 4A%7 AAI> 47I?H AAI> FI%; 4AF2 T2F- 4AF2 !2>%I"> !"?I4I2% %8AF>A,I%7FA>T7I =>IT AAI> 2A%6 !2>%I"> =>IT AAI> %I>A?2 !F2-I=-2A%6 !2>%I"> =>IT AAI> !2>%I"> F2A=??AF

=>IT I?>;2H !"?I4I2% >28 =>IT AAI> >28 =>IT AAI> !?=% >28 =>IT AAI> %=!2F =>IT AAI> !F2-I2F 9%I>A?2 !F2-I=-:

(*

 =>IT AAI> !?=% %I>??2 !F2-I= 4A!ITA? =>IT AAI>

72A?T7 !"?I4I2% 72A?T7 4AF2 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!. 2acA 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 O ortunit.

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 $a'a' Allian) =nitAain 2asy !ension, is a plan that helps you take control of your future and ensure a retirement you can look forward to. This is a regular premium investment linked deferred annuity policy. Available as+ =nitAain 2asy !ension Fegular !remium M =nitAain 2asy !ension %ingle !remium H!alt$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 minimum cover amount, sub'ect to a maximum multiple of 1. Ca ital 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 Aroup !lans &ROUP CREDIT +HIE*D
Available for 2mployer & 2mployee Aroups and >on 2mployer&2mployee Aroups

&ROUP TERM *I(E

Available for 2mployer & 2mployee Aroups and >on 2mployer&2mployee Aroups

&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

>28 AF"=! AFAT=IT6 4AF2 %472-2

Aiving your 2mployees and their families the and financial security heartening reassurance of your care

CHAPTER 5 ? ON THE 3O2 TRAININ&

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

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 !ro'ect under our company Auide -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 to make a talk with them. $y the completion of -y pro'ect 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"!tCtasAs TAR&ET+ %elling of insurance policy worth F%..<, 111 for month. And recruiting . I.49insurance consultancy:for TA+0+ To generate a business worth of Fs ,C1,111 (C months.

 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 A memento from the company. letter.

CHAPTER 5 ; DATA ANA*1+I+

(/

1.

P!o l! Int!r!st!, in insuranc! Pro,uct on t$!ir a"!

A&E 1&(1 (1&*1 *1&.1 .1&<1 <1&01

D O( IN@E+TOR+ / D ** ( (1

*1

35 30 25 20 15 10 5 0 % OF INVESTORS 10 to20 20 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.

(. O inion o6 !o l! int!r!st!, on ,i66!r!nt t. ! o6 ro,uct OPINION+ O( PRODUCT =?I! 47I?H AAI> 72A?T7 4AF2 AF"=! !?A>% !2>%I"> !?A>% D O( INTER+TED .* 1 (* 1C 0

Int!r r!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 in health 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 ob'ective based up on the tax benefit they get through insurance.

*(

*. +atis6actor. l!-!ls o6 !o l! to#ar,s 2a7a7 Allian8 %atisfactory levels of !eople Jully %atisfied %atisfied !artially %atisfied >ot %atisfied Satisfactory levels of people 1 (C K of !eople (< *D

Fully Satisfied Satisfied Partially Satisfied Not Satisfied

Int!r r!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.

**

/. In-!stm!nt ,!cision o6 !o l! to#ar,s 2a7a7Allian8 li6! insuranc! Investment decision 4ompanyL$rand ,alue Jund !erformance Tax $enefits 0. (1 K of !eople 0

I vest!e t "ecisio of people

Company/Brand Value Fund Performance Tax Benefits

Int!r r!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.

*.

<. Pr!6!rrin" o6 insuranc!

OPTION security Assured in returns ?ess risk Tax benefits

D O( CU+TOMER+ (< .* ( (1

*<

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

!0 0 30 20 10 0 " #F C$ST#%&'S security (ssured in returns )ess ris* Tax +enefits

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!o l! r!6!rrin"

Investment option

K of !eople

6early

*< *0

Nueerly 7alf yearly

.D (C

!0 0 30 20 10 0 1
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.

Series1

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&RAPH1
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