amankumar market st. axa.doc

8/17/2019 amanKUMAR MARKET ST. axa.doc

1/60

SUBMITTED TO: -

A.PROF. CHANJYOT KAUR

SUBMITTED BY :-

AMAN KUMAR

BBA 3RD YEAR

10836.

1


2/60

Acknowledgemen

I !m "!nk#$l o !lm%g"%l&' (od' #o) *le++%ng+ !nd +$,,o) "! "e "!+ *e+owed $,on

me o g%%ng "e +)eng" o com,lee "%+ ,)oec.

I cone& ! +,ec%!l "!nk+ o A++%. /)o#. "!n&o !$) w"o g%e me o,,o)$n%& o wo)k

on "%+ ,)oec !nd #o) "e)e e2ended +$,,o) !nd g$%d!nce.

%n!ll&4 I "!nk+ o m& #!m%l&4 #)%end+ !nd !ll ,e)+on+ w"o "el, me o com,lee "%+

,)oec.

5


3/60

IDE7

Sr. No. Content Page

No.

1 In)od$c%on

2 once, o# m!)ke%ng 9

3 In)od$c%on o# %n+$)!nce 9

4 Role o# IRDA 11

5 M!)ke +)!eg%e+ %n B"!)% A7A 1

3


4/60

6 Im,o)!nce o# m!)ke +)!eg%e+ 5

7 O*ec%e o# +$d& 56

Re%ew o# l%e)!$)e 59

1! D!! collec%on 5;

11 An!l&+%+ o# d!! 30

12 %nd%ng

13 S$gge+%on+ 6

14 oncl$+%on 9

15 B%*l%og)!,"& 8

"ntro#$%t&on

B"!)% A7A


5/60

B"!)% Ene),)%+e+ %+ !n Ind%!n *$+%ne++ conglome)!e "e!d=$!)e)ed %n ew Del"%4 Ind%!. I

w!+ #o$nded %n 1;96 *& S$n%l B"!)% M%!l !nd % o,e)!e+ %n 50 co$n)%e+ !c)o++ A+%! !nd

A#)%c!. B"!)% Ene),)%+e+ own+ !)%o$+ *$+%ne++e+ +,!nn%ng !c)o++ elecomm$n%c!%on+4

)e!%l4 #%n!nc%!l +e)%ce+ !nd m!n$#!c$)%ng. "!)% Ene),)%+e+


6/60

2.Sat(a +,art& S%,oo- &n Har(ana

B"!)% A%)el


7/60

6. F&e-#Fre', Foo#'

%eld)e+" ood+ %+ ! o%n en$)e *eween B"!)% Ene),)%+e+ !nd DM/< Ind%! +> #l!g+"%,

com,!n&4 "!+ eme)ged !+ one o# "e o, elecom com,!n%e+ %n "e wo)ld !nd %+ !mong+ "e o,

#%e w%)ele++ o,e)!o)+ %n "e wo)ld.

9

http://en.wikipedia.org/wiki/AXAhttp://en.wikipedia.org/wiki/AXAhttp://en.wikipedia.org/wiki/Real_Estatehttp://en.wikipedia.org/wiki/AXAhttp://en.wikipedia.org/wiki/Real_Estate


8/60

T")o$g" %+ glo*!l elecom o,e)!%on+ B"!)% g)o$, "!+ ,)e+ence %n 51 co$n)%e+ !c)o++ A+%!4

A#)%c! !nd E$)o,e - Ind%!4 S)%

"!d4 ongo B)!KK!%lle4 Democ)!%c Re,$*l%c o# ongo4 (!*on4 ("!n!4 en&!4 M!d!g!+c!)4

M!l!w%4 %ge)4 %ge)%!4 S%e))!


9/60

Con%e*t o Maret&ng

T"e)e !)e m!n& de#%n%%on+ o# m!)ke%ng. T"e *ee) de#%n%%on+ !)e #oc$+ed $,onc$+ome)

o)%en!%on !nd +!%+#!c%on o# c$+ome) need+:-

A%%or#&ng to P,&-&* Kot-er M!)ke%ng %+ "e +oc%!l ,)oce++ *& w"%c" %nd%%d$!l+ !nd

g)o$,+ o*!%n w"! "e& need !nd w!n ")o$g" c)e!%ng !nd e2c"!ng%ng ,)od$c+ !nd

!l$e w%" o"e)+.

A%%or#&ng to P.F r$%er M!)ke%ng %+ no onl& m$c" *)o!de) "!n +ell%ng4 % %+ no !

+,ec%!l%Ked !c%%& ! !ll I encom,!++e+ "e en%)e *$+%ne++. I %+ "e w"ole *$+%ne++ +een

#)om "e ,o%n o# %ew o# "e #%n!l )e+$l4 "! %+4 #)om "e c$+ome)>+ ,o%n o# %ew.

once)n !nd )e+,on+%*%l%& #o) m!)ke%ng m$+ "e)e#o)e ,e)me!e !ll !)e!+ o# "e

ene),)%+e.

"NTROUCT"ON OF "NSURANC

H"e)ee) "e)e %+ $nce)!%n& "e)e %+ )%+k. He do no "!e !n& con)ol oe) $nce)!%n%e+ w"%c"

%nole+ #%n!nc%!l lo++e+. T"e )%+k+ m!& *e ce)!%n een+ l%ke de!"4 ,en+%on4 )e%)emen o)

$nce)!%n een+ l%ke "e#4 #%)e4 !cc%den4 ec. In+$)!nce %+ ! #%n!nc%!l +e)%ce #o) collec%ng "e

+!%ng+ o# "e ,$*l%c !nd ,)o%d%ng "em w%" )%+k coe)!ge. T"e m!%n #$nc%on o# In+$)!nce %+

o ,)o%de ,)oec%on !g!%n+ "e ,o++%*le c"!nce+ o# gene)!%ng lo++e+. I el%m%n!e+ wo))%e+

!nd m%+e)%e+ o# lo++e+ *& de+)$c%on o# ,)o,e)& !nd de!". I !l+o ,)o%de+ c!,%!l o "e

+oc%e& !+ "e #$nd+ !cc$m$l!ed !)e %ne+ed %n ,)od$c%e "e!d+. In+$)!nce come+ $nde) "e

+e)%ce +eco) !nd w"%le m!)ke%ng "%+ +e)%ce4 d$e c!)e %+ o *e !ken %n =$!l%& ,)od$c !nd

c$+ome) +!%+#!c%on. H"%le m!)ke%ng "e +e)%ce+4 % %+ !l+o ,e)%nen "! "e& "%nk !*o$ "e

%nno!%e ,)omo%on!l me!+$)e+. I %+ no +$##%c%en "! &o$ ,e)#o)m well *$ % %+ !l+o

%m,o)!n "! &o$ le o"e)+ know !*o$ "e =$!l%& o# &o$) ,o+%%e con)%*$%on+. T"e

c)e!%%& %n "e ,)omo%on!l me!+$)e+ %+ "e need o# "e "o$). T"e !de)%+emen4 ,$*l%c

)el!%on+4 wo)d o# mo$" comm$n%c!%on need+ d$e c!)e !nd ,e)+on!l +ell%ng )e=$%)e+ %n

en+%ec!)e.

"NSURANC MARKT"N0

T"e e)m In+$)!nce M!)ke%ng )e#e)+ o "e m!)ke%ng o# In+$)!nce +e)%ce+ w%" "e !%m oc)e!e c$+ome) !nd gene)!e ,)o#% ")o$g" c$+ome) +!%+#!c%on. T"e In+$)!nce M!)ke%ng

;


10/60

#oc$+e+ on "e #o)m$l!%on o# !n %de!l m%2 #o) In+$)!nce *$+%ne++ +o "! "e In+$)!nce

o)g!n%+!%on +$)%e+ !nd ")%e+ %n "e )%g" ,e)+,ec%e.

MARKT"N0 M"/ FOR "NSURANC COMPAN"S

T"e m!)ke%ng m%2 %+ "e com*%n!%on o# m!)ke%ng !c%%%e+ "! !n o)g!n%K!%on eng!ge+ %n +o

!+ o *e+ mee "e need+ o# %+ !)geed m!)ke. T"e In+$)!nce *$+%ne++ de!l+ %n +ell%ng +e)%ce+

!nd "e)e#o)e d$e we%g"-!ge %n "e #o)m!%on o# m!)ke%ng m%2 #o) "e In+$)!nce *$+%ne++ %+

needed. T"e m!)ke%ng m%2 %ncl$de+ +$*-m%2e+ o# "e 9 />+ o# m!)ke%ng %.e. "e ,)od$c4 %+

,)%ce4 ,l!ce4 ,)omo%on4 ,eo,le4 ,)oce++ G ,"&+%c!l !)!c%on. T"e !*oe men%oned 9 />+ c!n

*e $+ed #o) m!)ke%ng o# In+$)!nce ,)od$c+4 %n "e #ollow%ng m!nne):

PROUCT

A ,)od$c me!n+ w"! we ,)od$ce. I# we ,)od$ce good+4 % me!n+ !ng%*le ,)od$c !nd w"en

we ,)od$ce o) gene)!e +e)%ce+4 % me!n+ %n!ng%*le +e)%ce ,)od$c. A ,)od$c %+ *o" w"! !

+elle) "!+ o +ell !nd ! *$&e) "!+ o *$&. T"$+4 !n In+$)!nce com,!n& +ell+ +e)%ce+ !nd

"e)e#o)e +e)%ce+ !)e "e%) ,)od$c. In Ind%!4 "e


11/60

In "e %n+$)!nce *$+%ne++ "e ,)%c%ng dec%+%on+ !)e conce)ned w%" T"e ,)em%$m c"!)ged

!g!%n+ "e ,ol%c%e+4 Ine)e+ c"!)ged #o) de#!$l%ng "e ,!&men o# ,)em%$m !nd c)ed% #!c%l%&4

!nd omm%++%on c"!)ged #o) $nde)w)%%ng !nd con+$l!nc& !c%%%e+. H%" ! %ew o#

%n#l$enc%ng "e !)ge m!)ke o) ,)o+,ec+ "e #o)m$l!%on o# ,)%c%ng +)!eg& *ecome+

+%gn%#%c!n. In ! deelo,%ng co$n)& l%ke Ind%! w"e)e "e d%+,o+!*le %ncome %n "e "!nd+ o#

,)o+,ec+ %+ low4 "e ,)%c%ng dec%+%on !l+o goe)n+ "e )!n+#o)m!%on o# ,oen%!l ,ol%c&"olde)+

%no !c$!l ,ol%c& "olde)+. T"e +)!eg%e+ m!& *e "%g" o) low ,)%c%ng kee,%ng %n %ew "e leel

o) +!nd!)d o# c$+ome)+ o) "e ,ol%c& "olde)+. T"e ,)%c%ng %n %n+$)!nce %+ %n "e #o)m o#

,)em%$m )!e+. T"e ")ee m!%n #!co)+ $+ed #o) dee)m%n%ng "e ,)em%$m )!e+ $nde) ! l%#e

%n+$)!nce ,l!n !)e mo)!l%&4 e2,en+e !nd %ne)e+. T"e ,)em%$m )!e+ !)e )e%+ed %# "e)e !)e

!n& +%gn%#%c!n c"!nge+ %n !n& o# "e+e #!co)+.

• Mo)!l%& de!"+ %n ! ,!)%c$l!) !)e!J:H"en dec%d%ng $,on "e ,)%c%ng +)!eg& "e

!e)!ge )!e o# mo)!l%& %+ one o# "e m!%n con+%de)!%on+. In ! co$n)& l%ke So$" A#)%c! "e

")e! o l%#e %+ e)& %m,o)!n !+ % %+ ,l!&ed *& "o+ o# d%+e!+e+.

o E2,en+e+: T"e co+ o# ,)oce++%ng4 comm%++%on o !gen+4 )e%n+$)!nce com,!n%e+ !+ well

!+ )eg%+)!%on !)e !ll %nco),o)!ed %no "e co+ o# %n+!llmen+ !nd ,)em%$m +$m !nd #o)m+

"e %neg)!l ,!) o# "e ,)%c%ng +)!eg&.

o Ine)e+: T"e )!e o# %ne)e+ %+ one o# "e m!o) #!co)+ w"%c" dee)m%ne+ ,eo,le>+

w%ll%ngne++ o %ne+ %n %n+$)!nce. /eo,le wo$ld no *e w%ll%ng o ,$ "e%) #$nd+ o %ne+ %n

%n+$)!nce *$+%ne++ %# "e %ne)e+ )!e+ ,)o%ded *& "e *!nk+ o) o"e) #%n!nc%!l %n+)$men+ !)e

m$c" g)e!e) "!n "e ,e)ce%ed )e$)n+ #)om "e %n+$)!nce ,)em%$m+.

3. PAC

T"%+ com,onen o# "e m!)ke%ng m%2 %+ )el!ed o wo %m,o)!n #!ce+ 4 M!n!g%ng "e

%n+$)!nce ,e)+onnel4 !nd


12/60

,)oce++. T"e %n+$)!nce ,e)+onnel %# no m!n!ged ,)o,e)l& wo$ld m!ke !ll e##o)+ %n+en+%%e.

Een %# "e ,ol%c& m!ke)+ m!ke ,)o%+%on #o) "e =$!l%& $,g)!d%ng "e ,)om%+ed +e)%ce+

"!)dl& )e!c" o "e end $+e)+. I %+ !l+o e++en%!l "! "e& "!e )$)!l o)%en!%on !nd !)e well

!w!)e o# "e l%#e+&le+ o# "e ,)o+,ec+ o) $+e)+. T"e& !)e )e=$%)ed o *e g%en !de=$!e

%ncen%e+ o +"ow "e%) e2cellence. H"%le )ec)$%%ng !gen+4 "e *)!nc" m!n!ge)+ need o

,)e#e) loc!l ,e)+on+ !nd ,)o%de "em )!%n%ng !nd cond$c +em%n!)+. In !dd%%on o "e !gen+4

"e #)on-l%ne +!## !l+o need+ !n %nen+%e )!%n%ng ,)og)!mmed o #oc$+ m!%nl& on *e"!%o)!l

m!n!gemen. Ano"e) %m,o)!n d%men+%on o "e /l!ce M%2 %+ )el!ed o "e loc!%on o# "e

%n+$)!nce *)!nc"e+. H"%le loc!%ng *)!nc"e+4 "e *)!nc" m!n!ge) need+ o con+%de) ! n$m*e)

o# #!co)+4 +$c" !+ +moo" !cce++%*%l%&4 !!%l!*%l%& o# %n#)!+)$c$)!l #!c%l%%e+ !nd "e

m!n!gemen o# *)!nc" o##%ce+ !nd ,)em%+e+. In !dd%%on % %+ !l+o +%gn%#%c!n o ,)o%de +!#e&

me!+$)e+ !nd !l+o #!co)+ l%ke o##%ce #$)n%+"%ng4 c%%c !men%%e+ !nd #!c%l%%e+4 ,!)k%ng #!c%l%%e+

!nd %ne)%o) o##%ce deco)!%on +"o$ld *e g%en ,)o,e) !en%on. T"$+ "e ,l!ce m!n!gemen o#

%n+$)!nce *)!nc" o##%ce+ need+ ! new %+%on4 d%+%nc !,,)o!c" !nd !n %nno!%e +&le. T"%+ %+

e++en%!l o m!ke "e wo)k ,l!ce cond$c%e4 !)!c%e !nd ,)o!c%e #o) "e gene)!%on o#

e##%c%enc& !mong em,lo&ee+. T"e *)!nc" m!n!ge)+ need ,)o#e++%on!l e2cellence o m!ke ,l!ce

dec%+%on+ ,)od$c%e.

4. PROMOT"ON

T"e %n+$)!nce +e)%ce+ de,end on e##ec%e ,)omo%on!l me!+$)e+. In ! co$n)& l%ke Ind%!4 "e

)!e o# %ll%e)!c& %+ e)& "%g" !nd "e )$)!l econom& "!+ dom%n!nce %n "e n!%on!l econom&. I

%+ e++en%!l o "!e *o" ,e)+on!l !nd %m,e)+on!l ,)omo%on +)!eg%e+. In ,)omo%ng %n+$)!nce

*$+%ne++4 "e !gen+ !nd "e )$)!l c!)ee) !gen+ ,l!& !n %m,o)!n )ole. D$e !en%on +"o$ld *e

g%en %n +elec%ng "e ,)omo%on!l ool+ #o) !gen+ !nd )$)!l c!)ee) !gen+ !nd een #o) "e

*)!nc" m!n!ge)+ !nd #)on l%ne +!##. T"e& !l+o "!e o *e g%en ,)o,e) )!%n%ng %n o)de) o

c)e!e %m,$l+e *$&%ng. Ade)%+%ng !nd /$*l%c%&4 o)g!n%+!%on o# con#e)ence+ !nd +em%n!)+4%ncen%e o ,ol%c&"olde)+ !)e %m,e)+on!l comm$n%c!%on. A))!ng%ng %)!n+4 e2"%*%%on+4

,!)%c%,!%on %n #!%)+ !nd #e+%!l+4 )$)!l w!ll ,!%n%ng+ !nd ,$*l%c%& d)%e ")o$g" "e mo*%le

,$*l%c%& !n $n%+ wo$ld *e e##ec%e %n c)e!%ng "e %m,$l+e *$&%ng !nd "e )$)!l ,)o+,ec+

wo$ld *e e!+%l& )!n+#o)med %no !c$!l ,ol%c&"olde)+.

5. POP

Unde)+!nd%ng "e c$+ome) *ee) !llow+ o de+%gn !,,)o,)%!e ,)od$c+. Be%ng ! +e)%ce%nd$+)& w"%c" %nole+ ! "%g" leel o# ,eo,le %ne)!c%on4 % %+ e)& %m,o)!n o $+e "%+

15


13/60

)e+o$)ce e##%c%enl& %n o)de) o +!%+#& c$+ome)+. T)!%n%ng4 deelo,men !nd +)ong

)el!%on+"%,+ w%" %ne)med%!)%e+ !)e "e ke& !)e!+ o *e ke, $nde) con+%de)!%on. T)!%n%ng "e

em,lo&ee+4 $+e o# IT #o) e##%c%enc&4 *o" ! "e +!## !nd !gen leel4 %+ one o# "e %m,o)!n

!)e!+ o look %no.

6. PROCSS

T"e ,)oce++ +"o$ld *e c$+ome) #)%endl& %n %n+$)!nce %nd$+)&. T"e +,eed !nd !cc$)!c& o#

,!&men %+ o# g)e! %m,o)!nce. T"e ,)oce++%ng me"od +"o$ld *e e!+& !nd conen%en o "e

c$+ome)+. In+!llmen +c"eme+ +"o$ld *e +)e!ml%ned o c!e) o "e ee) g)ow%ng dem!nd+ o#

"e c$+ome)+. IT G D!! H!)e"o$+%ng w%ll +moo"en "e ,)oce++ #low. IT w%ll "el, %n

+e)%c%ng l!)ge no. o# c$+ome)+ e##%c%enl& !nd *)%ng down oe)"e!d+. Tec"nolog& c!ne%"e)

com,lemen o) +$,,lemen "e c"!nnel+ o# d%+)%*$%on co+ e##ec%el&. I c!n !l+o "el, o

%m,)oe c$+ome) +e)%ce leel+. T"e $+e o# d!! w!)e"o$+%ng m!n!gemen !nd m%n%ng w%ll

"el, o #%nd o$ "e ,)o#%!*%l%& !nd ,oen%!l o# !)%o$+ c$+ome)+ ,)od$c +egmen+.

7. PHYS"CA "STR"+UT"ON

D%+)%*$%on %+ ! ke& dee)m%n!n o# +$cce++ #o) !ll %n+$)!nce com,!n%e+. Tod!&4 "e n!%on!l%Ke

%n+$)e)+ "!e ! l!)ge )e!c" !nd ,)e+ence %n Ind%!. B$%ld%ng ! d%+)%*$%on newo)k %+ e)&

e2,en+%e !nd %me con+$m%ng. I# "e %n+$)e)+ !)e w%ll%ng o !ke !d!n!ge o# Ind%!>+ l!)ge

,o,$l!%on !nd )e!c" ! ,)o#%!*le m!++ o# c$+ome)+4 "en new d%+)%*$%on !en$e+ !nd

!ll%!nce+ w%ll *e nece++!)& .In%%!ll& %n+$)!nce w!+ looked $,on !+ ! com,le2 ,)od$c w%" !

"%g" !d%ce !nd +e)%ce com,onen .B$&e)+ ,)e#e) ! #!ce-o-#!ce %ne)!c%on !nd "e& ,l!ce !

"%g" ,)em%$m on *)!nd n!me+ !nd )el%!*%l%&. A+ "e !w!)ene++ %nc)e!+e+4 "e ,)od$c *ecome+

+%m,le) !nd "e& *ecome o##-"e-+"e l #commod%& ,)od$c+. Tod!&4 !)%o$+ %ne)med%!)%e+4 no

nece++!)%l& %n+$)!nce com,!n%e+4 !)e +ell%ng %n+$)!nce. o) e2!m,le4 %n U4 )e!%le) l%ke M!)k+

G S,ence) +ell+ %n+$)!nce ,)od$c+. T"e #%n!nc%!l +e)%ce+ %nd$+)%e+ "!e +$cce++#$ll& $+ed

)emoe d%+)%*$%on c"!nnel+ +$c" !+ ele,"one o) %ne)ne +o !+ o )e!c" mo)e c$+ome)+4 !o%d

%ne)med%!)%e+4 *)%ng down oe) "e!d+ !nd %nc)e!+e ,)o#%!*%l%&. A good e2!m,le %+ U %n+$)e)

D%)ec


14/60

*!nk+ "o,e o m!2%m%Ke e2,en+%e e2%+%ng newo)k+ *& +ell%ng ! )!nge o# ,)od$c+. I %+

!n%c%,!ed "! )!"e) "!n #o)m!l owne)+"%, !))!ngemen+4 ! loo+e newo)k o# !ll%!nce

*eween %n+$)e)+ !nd *!nk+ w%ll eme)ge4 ,o,$l!)l& known !+ *!nc!++$)!nce. Ano"e)

%nno!%e d%+)%*$%on c"!nnel "! co$ld *e $+ed !)e "e non-#%n!nc%!l o)g!n%+!%on+. o) !n

e2!m,le4 %n+$)!nce #o) con+$me) %em+ l%ke #)%dge !nd T@ c!n *e o##e)ed ! "e ,o%n o# +!le.

T"%+ %nc)e!+e+ "e l%kel%"ood o# %n+$)!nce +!le+. All%!nce+ w%" m!n$#!c$)e)+ o) )e!%le)+ o#

con+$me) good+ w%ll *e ,o++%*le !nd %n+$)!nce c!n *e one o# "e !)%o$+ %ncen%e+ o##e)ed.

RO OF "RA "N "NSURANC SCTOR

Con%e*t o "RA

IRDA %+ In+$)!nce Reg$l!o)& Deelo,men A$"o)%&4 "! "!+ *een +e $, o ,)oec "e

%ne)e++ o# "e ,ol%c& "olde)+4 o )eg$l!e4 ,)omoe !nd en+$)e o)de)l& g)ow" o# "e %n+$)!nce

%nd$+)& !nd #o) m!e)+ conneced "e)ew%" o) %nc%den!l "e)e o.

In+$)!nce Reg$l!o)& !nd Deelo,men A$"o)%& To ,)oec "e %ne)e++ o# "e

,ol%c&"olde)+ In+$)!nce Reg$l!o)& G Deelo,men A$"o)%& %+ )eg$l!o)& !nd

deelo,men !$"o)%& $nde) (oe)nmen o# Ind%! %n o)de) o ,)oec "e %ne)e++ o# "e

,ol%c&"olde)+ !nd o )eg$l!e4 ,)omoe !nd en+$)e o)de)l& g)ow" o# "e %n+$)!nce

%nd$+)&. I %+ *!+%c!ll& ! en mem*e)+> e!m com,)%+%ng o# ! "!%)m!n4 #%e #$ll %me

mem*e)+ !nd #o$) ,!)-%me mem*e)+4 !ll !,,o%ned *& (oe)nmen o# Ind%!. T"%+

o)g!n%K!%on c!me %no *e%ng %n 1;;; !#e) "e *%ll o# IRDA w!+ ,!++ed %n "e Ind%!n

,!)l%!men.

Ro-e o "RA &n &n'$ran%e 'e%tor

Reg$l!)%K%ng "e !c%%%e+ o# "e %n+$)!nce com,!n%e+4 w"%c" we)e ,e)m%ed o e+!*l%+"

"e%) *$+%ne++ %n Ind%! *e+%de+ mo)e n$m*e) o# o$) c%%Ken+ *e *)o$g" %no "e ne o# l%#e

%n+$)!nce coe). T"en o c)e!e "e!l"& com,e%%on !mong %n+$)!nce com,!n%e+ o# *o"

gene)!l !nd l%#e4 *e+%de+ )eg$l!%ng "em.

$t&e' 8 Po9er : F$n%t&on' o "RA

• Sec%on 1 o# IRDA Ac4 1;;; l!&+ down "e d$%e+4 ,owe)+ !nd #$nc%on+ o# IRDA

1


15/60

• S$*ec o "e ,)o%+%on+ o# "%+ Ac !nd !n& o"e) l!w #o) "e %me *e%ng %n #o)ce4 "e

A$"o)%& +"!ll "!e "e d$& o )eg$l!e4 ,)omoe !nd en+$)e o)de)l& g)ow" o# "e

%n+$)!nce *$+%ne++ !nd )e-%n+$)!nce *$+%ne++.

•

H%"o$ ,)e$d%ce o "e gene)!l%& o# "e ,)o%+%on+ con!%ned %n +$*-+ec%on 1J4 "e ,owe)+ !nd #$nc%on+ o# "e A$"o)%& +"!ll %ncl$de4

• %++$e o "e !,,l%c!n ! ce)%#%c!e o# )eg%+)!%on4 )enew4 mod%#&4 w%"d)!w4

+$+,end o) c!ncel +$c" )eg%+)!%on

• ,)oec%on o# "e %ne)e++ o# "e ,ol%c& "olde)+ %n m!e)+ conce)n%ng !++%gn%ng o#

,ol%c&4 nom%n!%on *& ,ol%c& "olde)+4 %n+$)!*le %ne)e+4 +elemen o# %n+$)!nce

cl!%m4 +$))ende) !l$e o# ,ol%c& !nd o"e) e)m+ !nd cond%%on+ o# con)!c+

%n+$)!nce

• +,ec%#&%ng )e=$%+%e =$!l%#%c!%on+4 code o# cond$c !nd ,)!c%c!l )!%n%ng #o)

%ne)med%!)& o) %n+$)!nce %ne)med%!)%e+ !nd !gen+

• +,ec%#&%ng "e code o# cond$c #o) +$)e&o)+ !nd lo++ !++e++o)+

• ,)omo%ng e##%c%enc& %n "e cond$c o# %n+$)!nce *$+%ne++

• ,)omo%ng !nd )eg$l!%ng ,)o#e++%on!l o)g!n%K!%on+ conneced w%" "e %n+$)!nce !nd

)e-%n+$)!nce *$+%ne++

• le&%ng #ee+ !nd o"e) c"!)ge+ #o) c!))&%ng o$ "e ,$),o+e+ o# "%+ Ac

• c!ll%ng #o) %n#o)m!%on #)om4 $nde)!k%ng %n+,ec%on o#4 cond$c%ng en=$%)%e+ !nd

%ne+%g!%on+ %ncl$d%ng !$d% o# "e %n+$)e)+4 %ne)med%!)%e+4 %n+$)!nce

%ne)med%!)%e+ !nd o"e) o)g!n%K!%on+ conneced w%" "e %n+$)!nce *$+%ne++

• con)ol !nd )eg$l!%on o# "e )!e+4 !d!n!ge+4 e)m+ !nd cond%%on+ "! m!& *e

o##e)ed *& %n+$)e)+ %n )e+,ec o# gene)!l %n+$)!nce *$+%ne++ no +o con)olled !nd

)eg$l!ed *& "e T!)%## Ad%+o)& omm%ee $nde) +ec%on 6U o# "e In+$)!nce

Ac4 1;38 o# 1;38J

• +,ec%#&%ng "e #o)m !nd m!nne) %n w"%c" *ook+ o# !cco$n +"!ll *e m!%n!%ned

!nd +!emen o# !cco$n+ +"!ll *e )ende)ed *& %n+$)e)+ !nd o"e) %n+$)!nce

%ne)med%!)%e+

• )eg$l!%ng %ne+men o# #$nd+ *& %n+$)!nce com,!n%e+

• )eg$l!%ng m!%nen!nce o# m!)g%n o# +olenc&

• !d$d%c!%on o# d%+,$e+ *eween %n+$)e)+ !nd %ne)med%!)%e+ o) %n+$)!nce

%ne)med%!)%e+

1


16/60

• +$,e)%+%ng "e #$nc%on%ng o# "e T!)%## Ad%+o)& omm%ee

• +,ec%#&%ng "e ,e)cen!ge o# ,)em%$m %ncome o# "e %n+$)e) o #%n!nce +c"eme+ #o)

,)omo%ng !nd )eg$l!%ng ,)o#e++%on!l o)g!n%K!%on+ )e#e))ed o %n cl!$+e #J

• +,ec%#&%ng "e ,e)cen!ge o# l%#e %n+$)!nce *$+%ne++ !nd gene)!l %n+$)!nce *$+%ne++ o

*e $nde)!ken *& "e %n+$)e) %n "e )$)!l o) +oc%!l +eco) !nd

• e2e)c%+%ng +$c" o"e) ,owe)+ !+ m!& *e ,)e+c)%*ed

")*a%t o "RA On "n#&an "n'$ran%e Se%tor

T"e c)e!%on o# IRDA "!+ *)o$g" )eol$%on!)& c"!nge+ %n "e In+$)!nce +eco). In l!+ 10

&e!)+ o# %+ e+!*l%+"men "e %n+$)!nce +eco) "!+ +een )emendo$+ g)ow". H"en IRDA

c!me %no *e%ng onl& ,l!&e)+ %n "e %n+$)!nce %nd$+)& we)e


17/60

T"e+e lo++e+ co$ld *e )el!ed o "e!l"4 ,)o,e)&4 !++e+ o) l%#e %n gene)!l. In+$)!nce "el,+

,eo,le m!n!ge mone!)& )%+k+ !nd lo++e+ )el!ed o %ne+men+4 l%!*%l%%e+ #o) w)ong

#%n!nc%!l !c%on+4 !nd )%+k+ #o) %n!*%l%& o e!)n %ncome ! !n& +!ge o# l%#e. In+$)!nce gene)!ll&

coe)+ !ll "e+e )%+k+. T"e *!+%c econom%c ,)%nc%,le o# l%#e %n+$)!nce4 "e)e #o)e 4 %+ "e )%+k

+$##e)ed *& ! #ew %+ +,)e!d oe) ! l!)ge no. o# ,e)+on+ w"o #!ce "e +!me )%+k

e&n&t&on o "n'$ran%e

P,)om%+e+ o# )e%m*$)+emen %n "e !+e o# lo++ ,!%d o ,eo,le o) com,!n%e+ +o conce)ned

!*o$ "!K!)d+ "! "e& "!e m!de ,)e,!&men+ o !n %n+$)!nce com,!n&Q

e&n&t&on o -&e "n'$ran%e


18/60

,!&men #o) d +!me #)om "em. On ee)& cl!%m "! &o$ m!ke4 *e % ! "$ge one o) !

nom%n!l one4 &o$ w%ll )ece%e !n !mo$n &o$ !)e %n+$)ed #o)4 e2cl$d%ng ! #)!c%on o# "e o!l

!mo$n w"%c" &o$ m$+ ,!& #o)4 %n e!c" cl!%m. T"e "%g"e) %+ "e #)!c%on o# !mo$n w"%c" &o$

!g)ee o ,!& #o) ee)& %n+$)ed %nc%den4 "e lowe) !)e "e ,)em%$m+ w"%c" &o$ w%ll "!e o ,!&

o "e %n+$)!nce com,!n& !nd %ce e)+!. owee)4 %n+$)!nce com,!n%e+ $nde)w)%e ,)o,o+!l+

#o) e)m %n+$)!nce ,ol%c%e+ e)& c!)e #$ll& !)%o$+ )e+)%c%on+ !+ o

QAge ! en)&

Amo$n o# !++$)!nce

/e)%od o# %n+$)!nce ecQ

"n'$ran%e Contra%tT"e %n+$)!nce con)!c %+ ! leg!l doc$men "! +,ell+ o$ "e coe)!ge4 #e!$)e+4

cond%%on+ !nd l%m%!%on+ o# !n %n+$)!nce ,ol%c&. I %+ c)%%c!l "! &o$ )e!d "e

con)!c !nd !+k =$e+%on+ %# &o$ don> $nde)+!nd "e coe)!ge. Yo$ don> w!n o ,!&

#o) "e %n+$)!nce !nd "en #%nd o$ "! w"! &o$ "o$g" w!+ coe)ed %+n> %ncl$ded.

In+$)!nce e)m%nolog& &o$ +"o$ld know:

+o$n#

Once "e %n+$)!nce "!+ *een !cce,ed !nd %+ %n ,l!ce4 % %+ c!lled Q*o$ndQ. T"e ,)oce++o# *e%ng *o$nd %+ c!lled "e *%nd%ng ,)oce++.

"n'$rer

A ,e)+on o) com,!n& "! !cce,+ "e )%+k o# lo++ !nd com,en+!e+ "e %n+$)ed %n "e een

o# lo++ %n e2c"!nge #o) ! ,)em%$m o) ,!&men. T"%+ %+ $+$!ll& !n %n+$)!nce com,!n&.

"n'$re#

T"e ,e)+on o) com,!n& )!n+#e))%ng "e )%+k o# lo++ o ! "%)d ,!)& ")o$g" !con)!c$!l !g)eemen %n+$)!nce ,ol%c&J. T"%+ %+ "e ,e)+on o) en%& w"o w%ll *e

com,en+!ed #o) lo++ *& !n %n+$)e) $nde) "e e)m+ o# "e %n+$)!nce con)!c.

"n'$ran%e Rer; n#or'e)ent

An !!c"men o !n %n+$)!nce ,ol%c& "! !le)+ "e ,ol%c&>+ coe)!ge o) e)m+ In+$)!nce

U)


19/60

H"%le % !,,l%e+ o lo++e+ oe) "e doll!) !mo$n %n "e $nde)l&%ng ,ol%c%e+4 e)m+ o#

coe)!ge !)e +ome%me+ *)o!de) "!n "o+e o# $nde)l&%ng ,ol%c%e+.

"n'$ra


20/60

%ncl$de c$+ome) !n!l&+%+4 com,e%o) !n!l&+%+4 !)ge m!)ke !n!l&+%+4 !+ well !+ e!l$!%on o#

!n& elemen+ o# "e ec"nolog%c!l4 econom%c4 c$l$)!l o) ,ol%%c!lleg!l en%)onmen l%kel& o

%m,!c +$cce++. A ke& com,onen o# m!)ke%ng +)!eg& %+ o#en o kee, m!)ke%ng %n l%ne w%"

! com,!n&>+ oe)!)c"%ng m%++%on +!emen.

Once ! "o)o$g" en%)onmen!l +c!n %+ com,lee4 ! +)!eg%c ,l!n c!n *e con+)$ced o %den%#&

*$+%ne++ !le)n!%e+4 e+!*l%+" c"!lleng%ng go!l+4 dee)m%ne "e o,%m!l m!)ke%ng m%2 o

!!%n "e+e go!l+4 !nd de!%l %m,lemen!%on. A #%n!l +e, %n deelo,%ng ! m!)ke%ng +)!eg& %+

o c)e!e ! ,l!n o mon%o) ,)og)e++ !nd ! +e o# con%ngenc%e+ %# ,)o*lem+ !)%+e %n "e

%m,lemen!%on o# "e ,l!n.

M!)ke%ng M%2 Model%ng %+ o#en $+ed o "el, dee)m%ne "e o,%m!l m!)ke%ng *$dge !nd"ow o !lloc!e !c)o++ "e m!)ke%ng m%2 o !c"%ee "e+e +)!eg%c go!l+. Mo)eoe)4 +$c"

model+ c!n "el, !lloc!e +,end !c)o++ ! ,o)#ol%o o# *)!nd+ !nd m!n!ge *)!nd+ o c)e!e !l$e.

MARKT"N0 STRAT0Y "N +HART" A/A "F "NSURANC

T"e m!)ke%ng +)!eg& !n!l&+%+4 ,l!nn%ng4 %m,lemen!%on !nd m!n!gemen ,)oce++ %+

de+c)%*ed *elow. T"e +)!eg%c +%$!%on !n!l&+%+ con+%de)+ m!)ke !nd com,e%o)

!n!l&+%+4 m!)ke +egmen!%on4 !nd con%n$o$+ le!)n%ng !*o$ m!)ke+. De+%gn%ng

m!)ke%ng +)!eg& e2!m%ne+ c$+ome) !)ge%ng !nd ,o+%%on%ng +)!eg%e+4 m!)ke%ng

)el!%on+"%, +)!eg%e+ !nd ,l!nn%ng #o) new ,)od$c+. M!)ke%ng ,)og)!m deelo,men

con+%++ o# ,)od$c4 d%+)%*$%on4 ,)%ce4 !nd ,)omo%on +)!eg%e+ de+%gned !nd

%m,lemened o mee "e !l$e )e=$%)emen+ o# !)geed *$&e)+. S)!eg& %m,lemen!%on

!nd m!n!gemen con+%de) o)g!n%K!%on!l de+%gn !nd m!)ke%ng +)!eg& %m,lemen!%on

!nd con)olQ

PROCSS OF MARKT STRAT"0"S

Stage 1 Strateg&% S&t$at&on Ana-('&'

M!)ke%ng m!n!gemen $+e+ "e %n#o)m!%on ,)o%ded *& "e +%$!%on !n!l&+%+ o g$%de "e

de+%gn o# ! new +)!eg& o) c"!nge !n e2%+%ng +)!eg&. T"e +%$!%on !n!l&+%+ %+

cond$ced on ! )eg$l!) *!+%+ !#e) "e +)!eg& %+ $nde) w!& o e!l$!e +)!eg& ,e)#o)m!nce

50

http://en.wikipedia.org/wiki/Competitor_analysishttp://en.wikipedia.org/wiki/Target_markethttp://en.wikipedia.org/wiki/Target_markethttp://en.wikipedia.org/wiki/Mission_statementhttp://en.wikipedia.org/wiki/Mission_statementhttp://en.wikipedia.org/wiki/Strategic_planninghttp://en.wikipedia.org/wiki/Marketing_Mix_Modelinghttp://en.wikipedia.org/wiki/Competitor_analysishttp://en.wikipedia.org/wiki/Target_markethttp://en.wikipedia.org/wiki/Mission_statementhttp://en.wikipedia.org/wiki/Strategic_planninghttp://en.wikipedia.org/wiki/Marketing_Mix_Modeling


21/60

!nd %den%#& needed +)!eg& c"!nge+. M!)ke @%+%on4 S)$c$)e4 !nd An!l&+%+ m!)ke+ need

o *e de#%ned +o "! *$&e)+ !nd com,e%%on c!n *e !n!l&Ked. o) ! m!)ke o e2%+4 "e)e

m$+ *e ,eo,le w%" ,!)%c$l!) need+ !nd w!n+ !nd one o) mo)e ,)od$c+ "! c!n +!%+#&

*$&e)+ need+4 !nd *$&e)+ w%ll%ng !nd !*le o ,$)c"!+e ! ,)od$c "! +!%+#%e+ "e%) need+ !nd

w!n+. A ,)od$c-m!)ke con+%++ o# ! +,ec%#%c ,)od$c o) l%ne o# )el!ed ,)od$c+J "! c!n

+!%+#& ! +e o# need+ !nd w!n+ #o) "e ,eo,le o) o)g!n%K!%on+J w%ll%ng !nd !*le o

,$)c"!+e %. T"e e)m ,)od$c+ $+ed o %nd%c!e e%"e) ! ,"&+%c!l good o) !n %n!ng%*le +e)%ce.

An!l&K%ng ,)od$c-m!)ke+ !nd #o)ec!+%ng "ow "e& w%ll c"!nge %n "e #$$)e !)e %!l o

*$+%ne++ !nd m!)ke%ng ,l!nn%ng. Dec%+%on+ o ene) new ,)od$c-m!)ke+4 "ow o +e)e

e2%+%ng ,)od$c-m!)ke+4 !nd w"en o e2%+ %n $n!)!c%e ,)od$c-m!)ke+ !)e c)%%c!l

+)!eg%c c"o%ce+. T"e o*ec%e %+ o %den%#& !nd de+c)%*e "e *$&e)+4 $nde)+!nd "e%)

,)e#e)ence+ #o) ,)od$c+4 e+%m!e "e +%Ke !nd )!e o# g)ow" o# "e m!)ke4 !nd #%nd o$

w"! com,!n%e+ !nd ,)od$c+ !)e com,e%ng %n "e m!)ke.

Stage 1 Strateg&% S&t$at&on Ana-('&'

51

1. STRAT0"C

S"TUAT"ON

ANAYS"S

4 . "MP"MNT"N0

AN MANA0"N0

MAR KT"N0

S.STRAT0"C

2. S"0N"N0

MARKT STRAT0"C

3. MARKT"N0 PRO0RAM

=OPMNT


22/60

M!)ke%ng m!n!gemen $+e+ "e %n#o)m!%on ,)o%ded *& "e +%$!%on !n!l&+%+ o g$%de "e

de+%gn o# ! new +)!eg& o) c"!nge !n e2%+%ng +)!eg&. T"e +%$!%on !n!l&+%+ %+

cond$ced on ! )eg$l!) *!+%+ !#e) "e +)!eg& %+ $nde) w!& o e!l$!e +)!eg& ,e)#o)m!nce

!nd %den%#& needed +)!eg& c"!nge+. M!)ke @%+%on4 S)$c$)e4 !nd An!l&+%+ m!)ke+ need

o *e de#%ned +o "! *$&e)+ !nd com,e%%on c!n *e !n!l&Ked. o) ! m!)ke o e2%+4 "e)e

m$+ *e ,eo,le w%" ,!)%c$l!) need+ !nd w!n+ !nd one o) mo)e ,)od$c+ "! c!n +!%+#&

*$&e)+ need+4 !nd *$&e)+ w%ll%ng !nd !*le o ,$)c"!+e ! ,)od$c "! +!%+#%e+ "e%) need+ !nd

w!n+. A ,)od$c-m!)ke con+%++ o# ! +,ec%#%c ,)od$c o) l%ne o# )el!ed ,)od$c+J "! c!n

+!%+#& ! +e o# need+ !nd w!n+ #o) "e ,eo,le o) o)g!n%K!%on+J w%ll%ng !nd !*le o

,$)c"!+e %. T"e e)m ,)od$c+ $+ed o %nd%c!e e%"e) ! ,"&+%c!l good o) !n %n!ng%*le +e)%ce.

An!l&K%ng ,)od$c-m!)ke+ !nd #o)ec!+%ng "ow "e& w%ll c"!nge %n "e #$$)e !)e %!l o

*$+%ne++ !nd m!)ke%ng ,l!nn%ng. Dec%+%on+ o ene) new ,)od$c-m!)ke+4 "ow o +e)e

e2%+%ng ,)od$c-m!)ke+4 !nd w"en o e2%+ %n $n!)!c%e ,)od$c-m!)ke+ !)e c)%%c!l

+)!eg%c c"o%ce+. T"e o*ec%e %+ o %den%#& !nd de+c)%*e "e *$&e)+4 $nde)+!nd "e%)

,)e#e)ence+ #o) ,)od$c+4 e+%m!e "e +%Ke !nd )!e o# g)ow" o# "e m!)ke4 !nd #%nd o$

w"! com,!n%e+ !nd ,)od$c+ !)e com,e%ng %n "e m!)ke.

E!l$!%on o# com,e%o)+ +)!eg%e+4 +)eng"+4 l%m%!%on+ !nd ,l!n+ %+ !l+o ! ke& !+,ec o#

"e +%$!%on !n!l&+%+. I %+ %m,o)!n o %den%#& *o" e2%+%ng !nd ,oen%!l com,e%o)+.

om,e%o) !n!l&+%+ %ncl$de+ e!l$!%ng e!c" ke& com,e%o). T"e !n!l&+e+ "%g"l%g" "e

com,e%%on+ %m,o)!n +)eng"+ !nd we!kne++e+. A ke& %++$e %+ )&%ng o #%g$)e o$ w"! e!c"

com,e%o) %+ l%kel& o do %n #$$)e.

on%n$o$+


23/60

de+%gn%ng m!)ke%ng +)!eg&4 w"%c" %ncl$de+ m!)ke !)ge%ng !nd ,o+%%on%ng +)!eg%e+4

*$%ld%ng m!)ke%ng )el!%on+"%,+4 !nd deelo,%ng !nd %n)od$c%ng new ,)od$c+. M!)ke

T!)ge%ng !nd S)!eg%c /o+%%on%ng m!)ke%ng !d!n!ge %+ %n#l$enced

*& +ee)!l +%$!%on!l #!co)+ %ncl$d%ng %nd$+)& c"!)!ce)%+%c+4 &,e o# #%)m e.g.4 +%KeJ4 e2eno# d%##e)en%!%on %n *$&e)+ need+4 !nd "e +,ec%#%c com,e%%e !d!n!ge+J o# "e com,!n&

de+%gn%ng "e m!)ke%ng +)!eg&. T"e co)e %++$e %+ dec%d%ng "ow4 w"en4 !nd w"e)e o

com,ee4 g%en ! #%)m+ m!)ke !nd com,e%%e en%)onmen.

T"e ,$),o+e o# "e m!)ke%ng !)ge%ng +)!eg& %+ o +elec "e ,eo,le o)o)g!n%K!%on+J

"! m!n!gemen w%+"e+ o +e)e %n "e ,)od$c-m!)ke. H"en *$&e)+ need+ !nd w!n+

!)&4 "e m!)ke !)ge %+ $+$!ll& one o) mo)e +egmen+ o# "e ,)od$c-m!)ke. Once "e

+egmen+ !)e %den%#%ed !nd "e%) )el!%e %m,o)!nce o "e #%)m dee)m%ned4 "e !)ge%ng

+)!eg& %+ +eleced. T"e o*ec%e %+ o #%nd "e *e+ m!c" *eween "e !l$e )e=$%)emen+ o#

e!c" +egmen !nd "e o)g!n%K!%on+ d%+%nc%e c!,!*%l%%e+. T"e !)ge%ng dec%+%on %+ "e #oc!l

,o%n o# m!)ke%ng +)!eg& +%nce !)ge%ng g$%de+ "e +e%ng o# o*ec%e+ !nd deelo,%ng !

,o+%%on%ng +)!eg&. T"e o,%on+ )!nge #)om !)ge%ng mo+ o# "e +egmen+ o !)ge%ng

one o) #ew +egmen+ %n ! ,)od$c-m!)ke. T"e !)ge%ng +)!eg& m!& *e %n#l$enced *& "e

m!)ke+ m!$)%& 4 "e d%e)+%& o# *$&e)+ need+ !nd ,)e#e)ence+4 "e #%)m+ +%Ke

com,!)ed o com,e%%on4 co),o)!e )e+o$)ce+ !nd ,)%o)%%e+4 !nd "e ol$me o# +!le+

)e=$%)ed o !c"%ee #!o)!*le #%n!nc%!l )e+$l+.

Dec%d%ng "e o*ec%e+ #o) e!c" m!)ke !)ge +,ell+ o$ "e )e+$l+ e2,eced *&

m!n!gemen. E2!m,le+ o# m!)ke !)ge o*ec%e+ !)e de+%)ed leel+ o# +!le+4 m!)ke

+"!)e4 c$+ome) )een%on4 ,)o#% con)%*$%on4 !nd c$+ome) +!%+#!c%on. M!)ke%ng

o*ec%e+ m!& !l+o *e +e #o) "e en%)e *$+%ne++ $n% !nd #o) +,ec%#%c m!)ke%ng !c%%%e+

+$c" !+ !de)%+%ng.

T"e m!)ke%ng ,)og)!m ,o+%%on%ng +)!eg& %+ "e com*%n!%on o# ,)od$c4 !l$e-c"!%n4 ,)%ce4

!nd ,)omo%on +)!eg%e+ ! #%)m $+e+ o ,o+%%on %+el# !g!%n+ %+ ke& com,e%o)+ %n mee%ng "e

need+ !nd w!n+ o# "e m!)ke !)ge4 "e +)!eg%e+ !nd !c%c+ $+ed o g!%n ! #!o)!*le

,o+%%on !)e c!lled "e m!)ke%ng m%2 o) "e m!)ke%ng ,)og)!m.

53


24/60

M!)ke%ng Rel!%on+"%, S)!eg%e+ m!)ke%ng )el!%on+"%, ,!)ne)+ m!& %ncl$de end $+e)

c$+ome)+4 m!)ke%ng c"!nnel mem*e)+4 +$,,l%e)+4 com,e%o) !ll%!nce+4 !nd %ne)n!l

e!m+. T"e d)%%ng #o)ce $nde)l&%ng "e+e )el!%on+"%,+ %+ "! ! com,!n& m!& en"!nce

%+ !*%l%& o +!%+#& c$+ome)+ !nd co,e w%" ! )!,%dl& c"!ng%ng *$+%ne++ en%)onmen

")o$g" coll!*o)!%on o# "e ,!)%e+ %noled. Rel!%on+"%, +)!eg%e+ g!%ned new

%m,o)!nce %n "e l!+ dec!de !+ c$+ome)+ *ec!me mo)e dem!nd%ng !nd com,e%%on

*ec!me mo)e %nen+e. B$%ld%ng long-e)m )el!%on+"%,+ w%" c$+ome)+ !nd !l$e-c"!%n

,!)ne)+ o##e)+ com,!n%e+ ! w!& o ,)o%de +$,e)%o) c$+ome) !l$e. Al"o$g" *$%ld%ng

coll!*o)!%e )el!%on+"%,+ m!& no !lw!&+ *e "e *e+ co$)+e o# !c%on4 "%+ !en$e #o) g!%n%ng

! com,e%%e edge %+ %nc)e!+%ng %n ,o,$l!)%&. S)!eg%c ,!)ne)%ng "!+ *ecome !n %m,o)!n

+)!eg%c %n%%!%e #o) m!n& well known com,!n%e+ !nd *)!nd+. M!n& #%)m+ o$+o$)ce

"e m!n$#!c$)%ng o# "e%) ,)od$c+.

T"e )end o# "e 51+ cen$)& %+ ,!)ne)%ng )!"e) "!n e)%c!l %neg)!%on.

/l!nn%ng #o) ew /l!n+ new ,)od$c+ !)e needed o )e,l!ce old ,)od$c+ *ec!$+e o# decl%n%ng

+!le+ !nd ,)o#%+. S)!eg%e+ #o) deelo,%ng !nd ,o+%%on%ng new m!)ke en)%e+ %nole

!ll #$nc%on+ o# "e *$+%ne++. lo+el& coo)d%n!ed new-,)od$c ,l!nn%ng %+ e++en%!l o

+!%+#& c$+ome) )e=$%)emen+ !nd ,)od$ce ,)od$c+ w%" "%g" =$!l%& ! com,e%%e

,)%ce+. ew-,)od$c dec%+%on+ %ncl$de #%nd%ng !nd e!l$!%ng %de!+4 +elec%ng "e mo+

,)om%+%ng #o) deelo,men4 de+%gn%ng "e ,)od$c+4 deelo,%ng m!)ke%ng ,)og)!m+4 $+e

!nd m!)ke e+%ng "e ,)od$c+4 !nd %n)od$c%ng "em o "e m!)ke. T"e new-,)od$c

,l!nn%ng ,)oce++ +!)+ *& %den%#&%ng g!,+ %n c$+ome) +!%+#!c%on. T"e d%##e)ence+

*eween e2%+%ng ,)od$c !)%*$e+ !nd "o+e de+%)ed *& c$+ome)+ o##e) o,,o)$n%%e+ #o) new

!nd %m,)oed ,)od$c+.

Stage 3 Maretr&>en Progra) e>e-o*)ent

M!)ke !)ge%ng !nd ,o+%%on%ng +)!eg%e+ #o) new !nd e2%+%ng ,)od$c+ g$%de

"e c"o%ce o# +)!eg%e+ #o) "e m!)ke%ng ,)og)!m com,onen+. /)od$c4 d%+)%*$%on4

,)%ce4 !nd ,)omo%on +)!eg%e+ !)e com*%ned o #o)m "e ,o+%%on%ng +)!eg& +eleced #o) e!c"

m!)ke !)geQ

T"e m!)ke%ng ,)og)!m m%2J +)!eg%e+ %m,lemen "e ,o+%%on%ng +)!eg&. T"e o*ec%e

%+ o !c"%ee #!o)!*le ,o+%%on%ng w"%le !lloc!%ng #%n!nc%!l4 "$m!n4 !nd ,)od$c%on

)e+o$)ce+ o m!)ke+4 c$+ome)+4 !nd ,)od$c+ !+ e##ec%el& !nd e##%c%enl& !+ ,o++%*le.

5


25/60

S)!eg%c B)!nd M!n!gemen ,)od$c+ good+ !nd +e)%ce+J o#en !)e "e #oc!l ,o%n o#

,o+%%on%ng +)!eg&4 ,!)%c$l!)l& w"en com,!n%e+ o) *$+%ne++ !do, o)g!n%K!%on!l

!,,)o!c"e+ em,"!+%K%ng ,)od$c o) *)!nd m!n!gemen. /)od$c +)!eg& %ncl$de+:

1J deelo,%ng ,l!n+ #o) new ,)od$c+45J m!n!g%ng ,)og)!m+ #o) +$cce++#$l ,)od$c+4 !nd

3J dec%d%ng w"! o do !*o$ ,)o*lem ,)od$c+ e.g.4 )ed$ce co++ o) %m,)oe "e ,)od$cJ.

S)!eg%c *)!nd m!n!gemen con+%++ o# *$%ld%ng *)!nd !l$e e=$%&J !nd m!n!g%ng "e

o)g!n%K!%on+ ,o)#ol%o #o) oe)!ll ,e)#o)m!nce.

/)%ce !l+o ,l!&+ !n %m,o)!n )ole %n ,o+%%on%ng ! ,)od$c o) +e)%ce. $+ome) )e!c%on

o !le)n!%e ,)%ce+4 "e co+ o# "e ,)od$c4 "e ,)%ce+ o# "e com,e%%on !nd !)%o$+ leg!l !nde"%c!l #!co)+ e+!*l%+" "e e2en o# #le2%*%l%& m!n!gemen "!+ %n +e%ng ,)%ce+. /)%ce

+)!eg& %nole+ c"oo+%ng "e )ole o# ,)%ce %n "e ,o+%%on%ng +)!eg&4 %ncl$d%ng "e

de+%)ed ,o+%%on%ng o# "e ,)od$c o) *)!nd !+ well !+ "e m!)g%n+ nece++!)& o +!%+#&

!nd mo%!e d%+)%*$%on c"!nnel ,!)%c%,!n+. /)%ce m!& *e $+ed !+ !n !c%e %+%*leJ

com,onen o# m!)ke%ng +)!eg&4 o)4 %n+e!d4 m!)ke%ng em,"!+%+ m!& *e on o"e)

m!)ke%ng m%2 com,onen+ e.g.4 ,)od$c =$!l%&J. Ade)%+%ng4 +!le+ ,)omo%on4 "e +!le+

#o)ce4 d%)ec m!)ke%ng4 !nd ,$*l%c

)el!%on+ "el, "e o)g!n%K!%on o comm$n%c!e w%" %+ c$+ome)+4 !l$e-c"!%n ,!)ne)+4

"e ,$*l%c4 !nd o"e) !)ge !$d%ence+. T"e+e !c%%%e+ m!ke $, "e ,)omo%on +)!eg&4

w"%c" ,e)#o)m+ !n e++en%!l )ole %n comm$n%c!%ng "e ,o+%%on%ng +)!eg& o *$&e)+

!nd o"e) )ele!n %n#l$ence+. /)omo%on %n#o)m+4 )em%nd+4 !nd ,e)+$!de+ *$&e)+ !nd o"e)+

w"o %n#l$ence "e ,$)c"!+%ng ,)oce++.

Stage 4 ")*-e)ent&ng an# Manag&ng Maretr&>en Strateg(

Selec%ng c$+ome)+ o !)ge !nd "e ,o+%%on%ng +)!eg& #o) e!c" !)ge moe+

m!)ke%ng +)!eg& deelo,men o "e !c%on +!ge. T"%+ +!ge con+%de)+ de+%gn%ng "e

m!)ke%ng o)g!n%K!%on !nd %m,lemen%ng !nd m!n!g%ng "e +)!eg&. De+%gn%ng E##ec%e

M!)ke-D)%en O)g!n%K!%on+ !n e##ec%e o)g!n%K!%on de+%gn m!c"e+ ,eo,le !nd wo)k

)e+,on+%*%l%& %n ! w!& "! %+ *e+ #o) !ccom,l%+"%ng "e #%)m+ m!)ke%ng +)!eg&.

Dec%d%ng "ow o !++em*le ,eo,le %no o)g!n%K!%on!l $n%+ !nd !++%gn )e+,on+%*%l%& o "e

!)%o$+ m%2 com,onen+ "! m!ke $, "e m!)ke%ng +)!eg& !)e %m,o)!n %n#l$ence+ on

,e)#o)m!nce

5


26/60

O)g!n%K!%on!l +)$c$)e+ !nd ,)oce++e+ m$+ *e m!c"ed o "e *$+%ne++ !nd m!)ke%ng

+)!eg%e+ "! !)e deelo,ed !nd %m,lemened. O)g!n%K!%on!l de+%gn need+ o *e

e!l$!ed on ! )eg$l!) *!+%+ o !++e++ %+ !de=$!c& !nd o %den%#&

nece++!)& c"!nge+.S)!eg& Im,lemen!%on !nd on)ol m!)ke%ng +)!eg& %m,lemen!%on !nd con)ol

con+%+ o#: 1J ,)e,!)%ng "e m!)ke%ng ,l!n !nd *$dge 5J %m,lemen%ng "e ,l!n !nd 3J

$+%ng "e ,l!n %n m!n!g%ng !nd con)oll%ng "e +)!eg& on !n ongo%ng *!+%+. T"e

m!)ke%ng ,l!n %ncl$de+ de!%l+ conce)n%ng !)ge%ng4 ,o+%%on%ng4 !nd m!)ke%ng m%2

!c%%%e+. T"e ,l!n +,ell+ o$ w"! %+ go%ng o "!,,en oe) "e ,l!nn%ng ,e)%od4 w"o %+

)e+,on+%*le4 "ow m$c" % w%ll co+4 !nd "e e2,eced )e+$l+ e.g.4 +!le+ #o)ec!++J. T"e

m!)ke%ng ,l!n %ncl$de+ !c%on g$%del%ne+ #o) "e !c%%%e+ o *e %m,lemened4 w"o doe+ w"!4

"e d!e+ !nd loc!%on o# %m,lemen!%on4 !nd "ow

%m,lemen!%on w%ll *e !ccom,l%+"ed. See)!l #!co)+ con)%*$e o %m,lemen!%on

e##ec%ene++ %ncl$d%ng "e +k%ll+ !nd comm%men o# "e ,eo,le %noled4 o)g!n%K!%on!l

de+%gn4 %ncen%e+4 !nd "e e##ec%ene++ o# comm$n%c!%on w%"%n "e o)g!n%K!%on !nd

e2e)n!ll&. M!)ke%ng +)!eg& %+ !n ongo%ng ,)oce++ o# m!k%ng dec%+%on+4 %m,lemen%ng

"em4 !nd )!ck%ng "e%) e##ec%ene++ oe) %me. In e)m+ o# %+ %me )e=$%)emen+4 +)!eg%c

e!l$!%on %+ #!) mo)e dem!nd%ng "!n ,l!nn%ng. E!l$!%on !nd con)ol !)e conce)ned

w%" )!ck%ng ,e)#o)m!nce !nd4 w"en nece++!)&4 !le)%ng ,l!n+ o kee, ,e)#o)m!nce on

)!ck. E!l$!%on !l+o %ncl$de+ look%ng #o) new o,,o)$n%%e+ !nd ,oen%!l ")e!+ %n "e

#$$)e. I %+ "e conce)n%ng l%nk %n "e +)!eg%c m!)ke%ng ,l!nn%ng ,)oce++. B& +e)%ng

!+ *o" "e l!+ +!ge !nd "e #%)+ +!ge e!l$!%on *e#o)e !k%ng !c%onJ %n "e

,l!nn%ng ,)oce++4 +)!eg%c e!l$!%on !++$)e+ "! +)!eg& %+ !n ongo%ng !c%%&.

TYPS OF MARKT"N0 STRAT0"S

Ee)& m!)ke%ng +)!eg& %+ $n%=$e4 *$ c!n *e )ed$ced %no ! gene)%c m!)ke%ng

+)!eg&. T"e)e !)e ! n$m*e) o# w!&+ o# c!ego)%K%ng "e+e gene)%c +)!eg%e+. A *)%e#

de+c)%,%on o# "e mo+ common c!ego)%K%ng +c"eme+ %+ ,)e+ened *elow:-

1. Strateg&e' +a'e# On Maret o)&nan%e ?

In "%+ +c"eme4 #%)m+ !)e cl!++%#%ed *!+ed on "e%) m!)ke S"!)e o) dom%n!nce o# !n

%nd$+)&. T&,%c!ll& "e)e !)e ")ee &,e+ o# m!)ke dom%n!nce +)!eg%e+:


27/60

ollowe)Q

2. Porter 0ener&% Strateg&e' ?

+)!eg& on "e d%men+%on+ o# +)!eg%c +co,e !nd +)!eg%c +)eng". S)!eg%c +co,e )e#e)+

o "e m!)ke ,ene)!%on w"%le +)!eg%c +)eng" )e#e)+ o "e #%)m+ +$+!%n!*le com,e%%e!d!n!ge

o+ le!de)+"%,

/)od$c d%##e)en%!%on

M!)ke +egmen!%onQ

3. "nno>at&on Strateg&e' ?

T"%+ de!l+ w%" "e #%)m>+ )!e o# "e new ,)od$c deelo,men !nd *$+%ne++ model

%nno!%on. I !+k+ w"e"e) "e com,!n& %+ on "e c$%ng edge o# ec"nolog& !nd *$+%ne++ %nno!%on. T"e)e !)e ")ee &,e+:

/%onee)+

lo+e #ollowe)+

4. 0ro9t, Strateg&e' ?

In "%+ +c"eme we !+k "e =$e+%on4 ow +"o$ld "e #%)m g)owN

T"e)e !)e ! n$m*e) o# d%##e)en w!&+ o# !n+we)%ng "! =$e+%on4 *$ "e mo+

common

g%e+ #o$) !n+we)+:

o)%Kon!l %neg)!%on

@e)%c!l %neg)!%on

D%e)+%#%c!%on

Inen+%#%c!%onQ

RO OF MARKT"N0 STRAT0"S "N "F "NSURANC

A+ wee +een "e ke& o*ec%e o# !n o)g!n%K!%on+ m!)ke%ng e##o)+ %+ o deelo,

+!%+#&%ng )el!%on+"%,+ w%" c$+ome)+ "! *ene#% *o" "e c$+ome) !nd "e

o)g!n%K!%on. T"e+e e##o)+ le!d m!)ke%ng o +e)e !n %m,o)!n )ole w%"%n mo+

o)g!n%K!%on+ !nd w%"%n +oc%e&.

59


28/60

A "e o)g!n%K!%on!l leel4 m!)ke%ng %+ ! %!l *$+%ne++ #$nc%on "! %+ nece++!)& %n ne!)l&

!ll %nd$+)%e+ w"e"e) "e o)g!n%K!%on o,e)!e+ !+ ! #o)-,)o#% o) !+ ! no-#o)-,)o#%. o)

"e #o)-,)o#% o)g!n%K!%on4 m!)ke%ng %+ )e+,on+%*le #o) mo+ !+k+ "! *)%ng )een$e

!nd4 "o,e#$ll&4 ,)o#%+ o !n o)g!n%K!%on. o) "e no-#o)-,)o#% o)g!n%K!%on4 m!)ke%ng

%+ )e+,on+%*le #o) !)!c%ng c$+ome)+ needed o +$,,o) "e no-#o)-,)o#%+ m%++%on4 +$c"

!+ )!%+%ng don!%on+ o) +$,,o)%ng ! c!$+e. o) *o" &,e+ o# o)g!n%K!%on+4 % %+ $nl%kel& "e&

c!n +$)%e w%"o$ ! +)ong m!)ke%ng e##o).

M!)ke%ng %+ !l+o "e o)g!n%K!%on!l *$+%ne++ !)e! "! %ne)!c+ mo+ #)e=$enl& w%" "e

,$*l%c !nd4 con+e=$enl&4 w"! "e ,$*l%c know+ !*o$ !n o)g!n%K!%on %+

dee)m%ned *& "e%) %ne)!c%on+ w%" m!)kee)+. o) e2!m,le4 c$+ome)+ m!& *el%ee !

com,!n& %+ d&n!m%c !nd c)e!%e *!+ed on %+ !de)%+%ng me++!ge.

A ! *)o!de) leel m!)ke%ng o##e)+ +%gn%#%c!n *ene#%+ o +oc%e&. T"e+e *ene#%+ %ncl$de:

• Deelo,%ng ,)od$c+ "! +!%+#& need+4 %ncl$d%ng ,)od$c+ "! en"!nce +oc%e&+

=$!l%& o# l%#e

• )e!%ng ! com,e%%e en%)onmen "! "el,+ lowe) ,)od$c ,)%ce+

• Deelo,%ng ,)od$c d%+)%*$%on +&+em+ "! o##e) !cce++ o ,)od$c+ o ! l!)ge

• n$m*e) o# c$+ome)+ !nd m!n& geog)!,"%c )eg%on+

• B$%ld%ng dem!nd #o) ,)od$c+ "! )e=$%)e o)g!n%K!%on+ o e2,!nd "e%) l!*o) #o)ce

• O##e)%ng ec"n%=$e+ "! "!e "e !*%l%& o cone& me++!ge+ "! c"!nge +oc%e!l

*e"!%o) %n ! ,o+%%e w!& e.g.4 !n%-+mok%ng !de)%+%ngJ

• A e)& common w!& o ,)omoe !


29/60

• ,oen%!l


30/60

• #%e)ce od!& "! no com,!n& w!n+ o loo+e o$ on ! c$+ome) o !no"e) com,!n&.

l%en+ w"o !)e no con!ced #o) ! longe) ,e)%od o# %me no)m!ll& #!%l o

)em!%n

•lo&!l o "e %n+$)!nce com,!n& !nd look #o) ! d%##e)en


31/60

/!) o# ! m!)ke%ng +)!eg& %+ +e%ng "e )%g" ,)%ce #o) &o$) ,)od$c o) +e)%ce *!+ed

on w"! &o$ le!)ned %n &o$) m!)ke )e+e!)c". I# &o$ le!)ned "! c$+ome)+ w!n ! "%g"-

end ,)od$c %n &o$) c!ego)&4 &o$) ,)%c%ng +)!eg& m%g" )e=$%)e &o$ o +ell ! ,)%ce+

"! c)e!e ! "%g"-end ,e)ce%ed !l$e. I# &o$) !)ge c$+ome) %+ *!)g!%n con+c%o$+ !nd

%+ w%ll%ng o !cce, #ewe) *ell+ !nd w"%+le+ on &o$) ,)od$c %n e2c"!nge #o) ,!&%ng

le++4 &o$) ,)%c%ng +)!eg& w%ll )e=$%)e &o$ o +ell ! o) *elow "e com,e%%onC+ ,)%ce.

3. 'tae &'tr&


32/60

/)omo%on!l !nd m!)ke%ng +)!eg%e+ !)e o#en #%)+ *)!%n+o)med !nd w)%en !+ ,!) o#

!n o)g!n%K!%on>+ m!)ke%ng ,l!n. I# &o$) +m!ll *$+%ne++ doe+n> "!e ! m!)ke%ng ,l!n4

&o$ +"o$ld +e)%o$+l& con+%de) deelo,%ng one. Mo+ m!)ke%ng ,l!n+ %ncl$de "e c$))en

o) e2,eced +)!eg%e+ &o$ "!e #o) &o$) ,)od$c+4 "e ,)%ce ,o%n+ o# "o+e ,)od$c+4

"ow &o$ %nend o d%+)%*$e "e ,)od$c+4 !nd &o$) !de)%+%ng !nd m!)ke%ng ool+. A

m!)ke%ng ,l!n %+ !l+o %m,o)!n #o) deelo,%ng ! ,)omo%on!l +)!eg& !+ % "el,+ &o$)

*$+%ne++ %den%#& %+ !)ge m!)ke+ !nd o +e me!+$)!*le go!l+. I %+ %!l o "e +$cce++

o# "e o)g!n%K!%on "! &o$ %m,lemen ! m!)ke%ng ,l!n "! !%m+ #o) g)ow" !nd

,o+%%e c"!nge %n "e *oom l%ne.

7. Un#er'tan#&ng Yo$r C-&ent'

/)omo%on!l !nd m!)ke%ng +)!eg%e+ c!n !l+o !++%+ &o$) *$+%ne++ %n $nde)+!nd%ng !nd

connec%ng w%" cl%en+ !nd c$+ome)+. I# &o$) m!)ke%ng ,l!n %+ loo+el& +)$c$)ed4 &o$

m%g" no "!e m$c" +$cce++ ! !)ge%ng ,)od$c+ o "e Q)%g"Q demog)!,"%c+. !%ng

! +ol%d !nd well-"o$g"-o$ m!)ke%ng ,l!n c!n "el, &o$ %den%#& g!,+ %n "e

m!)ke,l!ce !nd ,)o%de #e!+%*le +ol$%on+ #o) &o$) cl%en+. I# &o$ o,e)!e !n %ce c)e!m

*$+%ne++ %n ! ne%g"*o)"ood w"e)e no o"e) %ce c)e!m +"o,+ e2%+4 % m%g" *e e!+%e) o

!)!c cl%en+ "!n %n ! own w"e)e "e)e !)e o"e) %ce c)e!m o,%on+. In "%+ c!+e4

$nde)+!nd%ng "! &o$) cl%en+ w!n +,)%nkle+ !nd w!##le cone+ m%g" "el, &o$ +ell

mo)e %ce c)e!m !nd kee, &o$) c$+ome)+ com%ng *!ck #o) mo)e.

O+JCT"= OF STUY

1. To #%nd o$ w"! k%nd o# ,ol%c%e+ +!le %n "e m!)ke.

5. To #%nd o$ w"! k%nd o# "e +)!eg%e+ m!%nl& $+%ng %n "e loc!l m!)ke.

35


33/60

3. To #%nd o$ !co) w"%c" e##ec%ng "e *$&%ng *e"!%o) o# c$+ome) o) m!)ke%ng

+)!eg%e+ .

. To #%nd o$ "e e##ec o# *)!nd on %nno!%on +)!eg%e+.

33


34/60

R=" OF "TRATUR AN RSARCH STUY

1. og!n4 Fo"n D 5001J. %n!nc%!l Se)%ce+ Re#o)m: T"e ()!mm-


35/60

%n+$)!nce com,!n%e+ !nd "e%) o,e)!%on+. T"e #%nd%ng+ ,)e+en d%##e)en demog)!,"%c!l

#!co)+ !nd "e%) !%$de+ ow!)d+ %n+$)!nce com,!n%e+ !nd "e%) +e)%ce+. I %+ e2,eced

"! #%nd%ng+ #)om +$c" +$)e& wo$ld con+%$e %!l %n,$ #o) %n+$)e)+ %n de+%gn%ng

m!)ke%ng +)!eg%e+ "! wo$ld #$)"e) +%m$l!e !nd *oo+ ,!)on!ge !nd ,e)ce,%on o#

%n+$)!nce +e)%ce+. e& wo)d+: %n+$)!nce4 !%$de4 %ge)%!4 demog)!,"&4 m!)ke%ng4

+)!eg%e+ A#)%c!n Fo$)n!l o# Acco$n%ng4 Econom%c+4 %n!nce !nd B!nk%ng Re+e!)c"

T!$deen Ol!lek!n Y$+$#4 A&!n$n% (*!d!mo+%4 G D!ll!" !m!d$ T"e dem!nd #o) l%#e

%n+$)!nce %n ! co$n)& m!& *e !##eced *& "e $n%=$e c$l$)e o# "e co$n)& o "e e2en "! %

!##ec+ "e ,o,$l!%onV+ )%+k !e)+%on Do$gl!+ !nd H%ld!+k%4 1;85J. ende)+on !nd

M%l"o$+e 1;89J !)g$e "! !n %nd%%d$!lV+ )el%g%on c!n ,)o%de !n %n+%g" %no "e

%nd%%d$!lV+ *e"!%o$) !nd $nde)+!nd%ng )el%g%on %+ !n %m,o)!n com,onen o#

$nde)+!nd%ng ! n!%onV+ $n%=$e c$l$)e. Al+o4 Lel%Ke) 1;9;J noe+ "! )el%g%on "%+o)%c!ll&

"!+ ,)o%ded ! +)ong +o$)ce o# c$l$)!l o,,o+%%on o l%#e %n+$)!nce !+ m!n& )el%g%o$+

,eo,le *el%ee "! ! )el%!nce on l%#e %n+$)!nce )e+$l+ #)om ! d%+)$+ o# (odV+ ,)oec%ng

c!)e. Un%l "e n%neeen" cen$)&4 E$)o,e!n n!%on+ condemned !nd *!nned l%#e

%n+$)!nce on )el%g%o$+ g)o$nd+. Lel%Ke) !l+o +!e+ "! )el%g%o$+ !n!gon%+m o l%#e

%n+$)!nce +%ll )em!%n+ %n +ee)!l I+l!m%c co$n)%e+. In +%m%l!) e%n4

a'a9 an# H&-- B16

e+ed "e e##ec o# I+l!m on l%#e %n+$)!nce con+$m,%on $+%ng !n %ne)n!%on!l d!! +e. T"e

)e+$l+ o# "e%) +$d& %nd%c!e "!4 cee)%+ ,!)%*$+4 con+$me)+ %n I+l!m%c n!%on+

,$)c"!+e le++ l%#e %n+$)!nce "!n "o+e %n non-I+l!m%c n!%on+. T"%+ ecome+ mo)e

e%den %n "e #!c "! "e)e %+ com,!)!%el& e)& low )!%o o# M$+l%m+ %n deelo,ed

co$n)%e+ w%" "e m!o)%& )e+%d%ng %n med%$m o low "$m!n deelo,men co$n)%e+.

)om "e "%)&-#%e low "$m!n deelo,men co$n)%e+ !+ de#%ned *& "e $m!n

Deelo,men Re,o) 500J4 +eeneen "!e ! m!o)%& M$+l%m ,o,$l!%on !nd ! #$)"e) #%e

"!e ! M$+l%m ,o,$l!%on o# oe) 50 ,e)cen. M$+l%m+ !)o$nd "e wo)ld !)e commonl&

#!ced w%" low-%ncome leel+4 !nd A#)%c!n Fo$)n!l o# Acco$n%ng4 Econom%c+4 %n!nce

!nd B!nk%ng Re+e!)c" T!$deen Ol!lek!n Y$+$#4 A&!n$n% (*!d!mo+%4 G D!ll!" !m!d$

Be)m!n4 /ee). QRe"%nk%ng e!l" !)e S&+em+: /)%!e e!l" !)e /)o%+%on %n Ind%!.Q

!)!)d Sc"ool o# /$*l%c e!l" Ho)k%ng /!,e)4 oem*e) 1;;6. B$+%ne++ Tod!&. QT"e

Mon%o)& ()o$, S$d& on In+$)!nce I !nd II.Q M!)c" 55 !nd A,)%l 94 5000.

3


36/60

M%)!4 S$m% !nd !&!k4 S"%l,!. Qom%ng o

"e )e+e!)c" #%nd%ng+ ! "e 501


37/60

&)&tat&on o 't$#(

!. D!! w"%c" I collec %+ e)& +m!ll "!C+ w"& we co$ld )e!c" ! !n& ,e)#ec )e+$l

*. Mo+l& ,eo,le !)e $n!w!)e !*o$ B"!)% A7A l%#e %n+$)!nce ,ol%c%e+ !nd

com,!n&.

c. /eo,le !)e no %ne)e+ed o #%ll "e =$e+%onn!%)e !nd no )e!d =$e+%on+

c!)e#$ll&.

d. T"e)e %+ l!ck o# )e+o$)ce Re+o$)ce+ .

ATA COCT"ON

I "!e collec "e d!! *o" ,)%m!)& !nd +econd!)&.

Pr&)ar( ata

I %ncl$de "e d!! w"%c" collec ")o$g" +$)e& )e,o) !nd =$e+%onn!%)e. T"e

,)%m!)& d!! %+ colleced *& "e ge%ng "e =$e+%onn!%)e #%lled #)om "e d%##e)en &,e o#

,eo,le. I "!e $+e o# =$e+%onn!%)e #o) #%nd%ng "e ,e)ce,%on o# con+$me)4 +)!eg%e+ o# %n+$)!nce com,!n&4 !l$e o# *)!nd.

T"e =$e+%onn!%)e con+%+ o# 1 =$e+%on w"%c" #%lled *& "e 1 d%##e)en ,e)+on+. E!c"

=$e+%onn!%)e "!+ !)%o$+ m$l%,le o,%on+. De,end%ng $,on "e%) )e+,on+e I #%nd "e )e+$l.

Se%on#ar( #ata

I %ncl$de+ "e d!! #)om %ne)ne "&,e)l%nk+ !nd *ook+4 o$)n!l+ !nd new+ ,!,e).

M!%nl& I "!e colleced d!! #)om %ne)ne !nd *ook+. T"e m!%n !%m o collec "e +econd!)&

d!! %+ o $nde)+!nd "e me!n%ng o# m!)ke +)!eg%e+4 ,)oce++4 %m,o)!nce.

Sa)*-e '&@e

S!m,le +%Ke w!+ !ken 1 o $nde)+!nd "e +$)e&.

39


38/60

Ana-('&' o Co--e%te# ata

1. "n 9,&%, 'e%tor 9o$-# (o$ -&e to &n>e't t,e&r '$r*-$' )one( E

!J In+$)!nce *J+"!)e cJ m$$!l #$nd+

dJ ,)%!e #%n!nce eJ o"e)

Co--e%te# #ata

T(*e In+$)!nce S"!)e M$$!l #$. /)%!e

#%n!nce

O"e) tota-

No. o *er'on 5 5 1 1

Per%entageB 13? 13? 9? 3? 33? 100?

P&e %,art

Re'$-t

38


39/60

)om !*oe ,%e c"!)4 "e)e !)e 3? ,e)+on+ !)e %ne)e+ed %n ,)%!e #%n!nce4 13?

,e)+on+ !)e %ne)e+ed %n +"!)e m!)ke4 13? ,e)+on+ !)e %ne)e+ed %n %n+$)!nce4 9? ,e)+on+ !)e

%ne)e+ed %n m$$!l #$nd+4 33? ,e)+on+ !)e %ne)e+ed %n o"e) me"od o# %ne+men #o) %ne+%ng "e)e +$),l$+ %ncome.

2. "' an( nee# o &n'$ran%e &n o$r -&eE

a Ye'


40/60

)om !*oe ,%e c"!4 ;3? ,e)+on+ !)e +!&+ "! "e)e %+ ! need o# %n+$)!nce %n o$)

l%#e !nd 9? ,e)+on+ !)e +!&+ "! "e)e %+ no need o# %n+$)!nce %n o$) l%#e.

3. "n 9,&%, 'e%tor 9o$-# (o$ -&e to &n>e't &n ter) o *o-&%(E

!J ,$*l%c +eco) *J ,)%!e +eco) cJ*o"

Co--e%t #ata

O*t&on /$*l%c /)%!e Bo" tota-No o *er'on' 9 3 1

Per%entageB 9? 50? 33? 100?

P&e C,at

0


41/60

Re'$-t

)om !*oe ,%e c"! we c!n +!& "! 9? ,e)+on+ !)e w!n o %ne+ %n ,$*l%c +eco)4

50? ,e)+on+ !)e w!n o %ne+ %n ,)%!e +eco)4 33? ,e)+on+ !)e w!n o %ne+ %n *o" +eco).

4. ,at &n# o *-an (o$ -&e o +,art& A/A -&e &n'$ran%eE

!J Endowmen *J e)m ,l!n cJ cone)%*le dJ "e!l"

Co--e%te# #ata

O*t&on Endowmen Te)m ,l!n one)%*le e!l" tota-

1


42/60

,l!n /l!n /l!n

No. o *er'on 8 0 3 1

Per%entage

B

3? 59? 0? 50? 100?

P&e %,art

Re'$-t

Acco)d%ng o !*oe ,%e c"!)4 3? ,eo,le !)e w!n o *$& ! %ndowmen ,l!n459?!)e

w!n o *$& e)m ,l!n450?w!n o *$& ! "e!l" ,l!n.

5. ,at &n# o en#o9)ent *-an o +A" (o$ -&eE!J "%ld ,l!n *J )e%)emen ,l!n cJ w"ole l%#e %n+$)!nce

5


43/60

O*t&on "%ld ,l!n Re%)emen ,l!n H"ole l%#e %n+$)!nce Tota-

No. o *er'on 9 3 1

Per%entage

B

5;? 0? 51? 100?

P&e C,art

Re'$-t

Acco)d%ng o !*oe ,%e c"! 4 0? ,e)+on+ !)e %ne)e+ed %n "e %n )e%)e)men ,l!n4

5;? ,e)+on+ !)e %ne)e+ed %n "e c"%ld ,l!n4 51? ,e)+on+ !)e %ne)e+ed %n w"ole l%#e

%n+$)!nce.

3


44/60

6. "'


45/60

)om !*oe ,%e c"! we c!n +!& "! 69?,e)+on+ !)e mo+ !g)ee w%" +!emen P*)!nd

n!me o# BA


46/60

Re'$-t

Acco)d%ng o !*oe ,%e c"!)4 0? ,eo,le !)e ge+ knowledge !*o$ "e BA


47/60

Re'$-t

)om !*oe ,%e c"!) we c!n +!& "!4 0? ,eo,le no *$& ! ,ol%c& #)om BA&n%e#

(o$


48/60

Re'$-t

)om !*oe ,%e c"!)4comm$n%c!%on +k%ll+ o# !gen "el,+ o con%ence "e c$+ome)+. 80?

,eo,le !)e %n #!o$) !nd 9? !)e no %n #!o$).

1!."' *,('&%a- -a(o$t o +,art& aGa -&e &n'$ran%e e

ee%t on (o$ E

!J Ye+ *J no

Co--e%t ata

O*t&on Ye+ o Tota-

8


49/60

No. o *er'on' 10 1

Per%entage B 69? 33? 100?

P&e C,art

Re'$-t

Acco)d%ng o !*oe ,%e c"!) 69? ,eo,le !)e +!&+ "!4' ,"&+%c!l l!&o$ o# *)!nc"

"!+ g%e ,o+%%e e##ec !nd 33? !)e no %n #!o$).

11. ea-&ng &n +A" &' goo# or


50/60

!J (ood *J e)& good c ) excellent

d) *!d eJ no known

Co--e%te# ata

O,%on (ood @e)& good E2cellen B!d o known

o.o# ,e)+on 6 1 1 5

/e)cen!ge ?J 0 33 9 9 13

P&e %,art

Re'$-t

)om !*oe ,%e c"!) 4 0? ,eo,le !)e +!&+ "! "e ,ol%c& o# BA


51/60

12.Are (o$ 'at&'( 9&t, t,e&r &n'$ran%e *o-&%( E!J $ll& +!%+#& *J no +!%+#&

Co--e%te# ata

O*t&on Ye+ o Tota-

No. o *er'on 11 1Per%entageB 93? 59? 100?

P&e C,art

Re'$-t

1


52/60

Acco)d%ng o !*oe ,%e c"!) 93? ,eo,le !)e +!%+#& w%" "e%) ,ol%c& !nd 59? !)e

no +!%+#& w%" "e%) ,ol%c& d$e #)!$d4$ncl!%m o) !gen+ w"%c" ,)o%de w)ong %n#o)m!%on.

13. ,et,er &n'$ran%e *rote%t (o$ )o't a' %o)*are to ot,er &n>e't)ent

9a('E!J Ag)ee *J mo+ !g)ee cJ d%+!g)ee dJ mo+ d%+!g)ee

Co--e%te# ata

O*t&on Ag)ee D%+!g)ee Mo+ !g)ee Mo+ d%+!g)ee Tota-

No. o *er'on' 3 1 11 0 1

Per%entageB 50? 9? 93? 0? 100?

P&e C,art

5


53/60

Re'$-t

Acco)d%ng o !*oe ,%e c"!) 93?,e)+on+ !)e mo+ !g)ee w%" +!emen P%n+$)!nce

,)oec &o$ mo+ !+ com,!)e o o"e) %ne+men w!&+'4 50? !)e onl& !g)ee4 9 ? !)e d%+!g)ee

!nd no ,e)+on wo$ld *e mo+ d%+!g)ee #)om "%+ +!emen.

14.Ser>&%e o +,art& A/A -&e &n'$ran%e &'!J (ood *J e)& good cJ e2cellen dJ *!d

eJ no known

Co--e%te# ata

O,%on (ood @e)& good E2cellen B!d o known To!l

o. o# ,e)+on 1 5 5 1 ; 1

/e)cen!ge?J 9? 13? 13? 9? 60? 100?

P&e C,art

3


54/60

Re'$-t-:

)om !*oe ,%e c"!) 4 60? ,eo,le !)e $n!w!)e !*o$ "e B"!)% A7A

,ol%c%e+4 13? !)e +!& e2cellen4 13?g%e oe o e)& good !nd 9? +!&+ *!d

+e)%ce.

15.Are (o$ 9ant to *er%,age a *o-&%( ro) +,art& aGa -&e &n'$ran%e Ea) yes b) no

%o--e%te# ata

O*t&on' Ye' No Tota-

No. o *er'on 13 2 15

Per%entage 1!!


55/60

P&e %,art

Re'$-t

Acco)d%ng o !*oe ,%e c"!) 489?,e)+on+ !)e w!n o *$& ! ,ol%c& !nd 13? !)e no

w!n o *$& ! ,ol%c&.

F&n#&ng

1. F&n#&ng a


56/60

!J Mo+l& ,e)+on !)e w!n+ "e%) %ne+men "e%) +$),l$+ mone& %n o"e) w!&+ !+ com,!)e

o %n+$)!nce.

*J 50 o 5 &e!)+ !ge old ,e)+on+ !)e %ne)e+ed %n "e e)m %n+$)!nce *$ "e& w!n +ome

m!$)%& *ene#%.

cJ 30 o 0 &e!)+ old ,e)+on+ !)e l%ke o )e%)emen ,l!n.

dJ Mo+l& ,e)+on !)e l%ke +!%ng ,l!n !nd mo+ o# ,e)+on !)e +!&+ "!4' %n+$)!nce ,)oec

mo)e !+ com,!)e o o"e) %ne+men me"od'.

eJ Mo+l& ,eo,le w!n ! "%g" )!e o# )e$)n ,l!n #o) o$) c"%ld #o) "%+ w"ole l%#e.

Strategies used in local insurance sector!J In o$) loc!l m!)ke


57/60

S$gge't&on to +,art& A/A

1. T"e)e %+ need o# !w!)ene++ %n "e m!)ke +o #o) "%+ ,$),o+e "e& +!) e2"%*%%on %n "e

)$)!l !)e! !+ well !+ $)*!n !)e!.

5.


58/60

Con%-$'&on

B"!)% A7A


59/60

!nd m!n!gemen con+%de) o)g!n%K!%on!l de+%gn !nd m!)ke%ng +)!eg& %m,lemen!%on

!nd con)olQ

Mo+ o# "e ,eo,le !)e $n!w!)e !*o$ "e ,ol%c%e+. B$ "o+e ,e)+on *$& "e ,ol%c& "e& !)e

#$ll& +!%+#& .)om "e !*oe )e+e!)c" "e )e+$l %+ B"!)% !2! need o deol,e "e new ,l!n

w"%c" %+ le++ co+l&. eed o# +)!eg%e+ !)e4

• Inno!%on +)!eg%e+

• /)omo%on o# A7A

• /)od$c D%##e)en%!e

• ollowe)

• ()ow" +)!eg%e+

+&


60/60

Se%on#ar( ata

1. "nternet -&n'

amankumar market st. axa.doc

Documents