HDFC LIFE INSURANCE:Building A

Service Brand

A Case Study By M.D.Karthik

CASE SYNOPSIS- Consumer behavior studied by Mr.Kumar(no

conclusion). Insurance policies(Age wise thinking). Consumer decision making. Total worth INR 41 Billion. Strategies and Marketing campaign varies. Digital Marketing making policies easier for

the youth to buy. (in 10 minutes now) Comparative Study with competitors. Lifestyle habits,Online & Offline,Advertising

campaign.Foreign Colloborations. Competitors – ICICI Prudential Life & SBI Life .

CASE PROBLEM-

• No Differentiation.• Mr.Kumar’s survey had no definite results.• Positioning not given importance.• Consumer needs and habits was given less

priority.• Brand equity given more leavage over

consumer needs.• How consumers differentiate policies?

CASE INFERENCE-

The habits of consumers need to be studied in depth.Service oriented.

Consumer(policy holder) is the king. Digital Marketing of policies is a huge

strategy applied for selling more policies to the youth of the nation and others.

Celebrities like Mr.Amitabh Bacchan chosen for ads to target particular segment.

Emotions are sold.Life Cycle of consumers. Money is crucial after life also.(Family well

being).

Recommended Solutions- Categorical Segmentation of policy holders has to be

done. Positioning of the insurance product should be strong. Competitors of Insurance companies have to clearly

differentiate their products(not confuse the customers).

It has to be made to look like a long term investment(not a question of life and death).

Policies for BPL(Below Poverty Line) families with less Mr. Modi’s Digital India campaign should also include

a Digital Insurance campaign

REFERENCES-

RICHARD IVEY SCHOOL OF BUSINESS FOUNDATION

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