promotional mix project
TRANSCRIPT
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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.
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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
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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.
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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
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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.
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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
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-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
$aa Allian) has received "iAAA rating, from I4FA ?imited, an associate of -oody's
Investors %ervices, for 4laims !aying Ability.This rating indicates highest claims paying ability and a
fundamentally strong position.
D
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CHAPTER 5 )
RE+EARCH METHODO*O&
The obective of the present study can be accomplished by conducting a systematic market
research. -arket research is the systematic design, collection, analysis and reporting of data and
findings that are relevant to different marketing situations facing the company. The marketing
research process that will be adopted in the present study will consist of the following stages+
a. D!6inin" t$! 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. $eing a
firm in financial services, data gathering will involve usage of both primary and secondary data
though there 8ill be an extensive usage of primary data. 8ell&structured #uestionnaires will be
prepared for both the existing and potential customers. There will be personal interview surveys
mostly in&home 9door&to&door: surveys. The #uestionnaires will contain both open&ended and close&
ended #uestions. 7ere, open&ended #uestions will be more useful, as it is an exploratory research
being conducted, wherein the main obective is to get an insight into how investors think. %econdary
data will be collected from various ournals, books and web sites.
C
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,. Anal8! t$! 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
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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
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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°ree 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.
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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 $usiness 9>ationali)ation: Act, /D( nationali)ed the general
insurance business in India with effect from st 3anuary /D*.
1>? insurers amalgamated and grouped into four companies vi). the >ational Insurance 4ompany
?td., the >ew India Assurance 4ompany ?td., the riental Insurance 4ompany ?td. and the =nited
India Insurance 4ompany ?td. I4 incorporated as a company.
(
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T$! 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.
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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.
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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,
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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.
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* 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 $aa Allian) eneral Insurance 4ompany ?imited
D
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0 < 1*.1C.(11 I4I4I ?ombard eneral Insurance 4ompany ?imited.
D * 1*&1C&(11D Apollo H; Insurance 4ompany ?imited
C *( 1&1/&(11D Juture enerali India Insurance 4ompany ?imited
r: %>>15%>>% + 9 Jrom st 3an (11 to Hec. (11(:
Insurance Industry in this year, so far has <new entrants5 namely
*i6! Insur!rs:
+.No. R!"istration
Numb!r
Dat! o6 R!". Nam! o6 t$! 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$! Coman
C
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(* <.1D.(11( 4holamandalam eneral Insurance 4ompany ?td.
(. ( (D.1C.(11( 2xport 4redit uarantee 4orporation ?td.
*. (< (D.1C.(11( 7HJ4&4hubb eneral Insurance 4o. ?td.
r: %>>)5%>>/ + 9 Jrom st 3an (11* till Hate:
Insurance Industry in this year, so far has new entrants5 namely
*i6! Insur!rs:
+.No. R!"istratio
n
Numb!r
Dat! o6 R!". Nam! o6 t$! Coman
(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
Dat! o6 R!". Nam! o6 t$! Coman
/
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(C D..(11< %hriram ?ife Insurance
4ompany ?td.
CHAPTER 5 <
COMPETITOR+
As a matter of competitors in the market there are so many companies coming up.
Among all the companies there are at most companies are giving a tight competition for this
company. They are
7HJ4 standard life
I4I4I prudential life insurance Aviva life insurance
Tata aig life insurance
%$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
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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 $A3A3 A??IA>42 company.
I studied about the company for at most all for (months period and I came to know the following
things
CHAPTER 5 =
PROMOTIONA* ACTI@ITIE+
The most important strategy following by the company was recruitment of insurance
consultants for the company.
It is the first private insurance company entered in to the rural market.
BAJAJ ALLIANZ SUPER AGENT
=
SUPER SERVICE
(
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+
SUPER ADVICE
+
SUPER FOLLOW UP’S
+
SUPER CUSTOMISED SOLUTIONS
=
SUPER CUSTOMER SATISFACTION
!romotional mix of insurance products
Fight know company has so many typesB products which will suitable for Indian people.
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Prot!ctor
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+#arna @is$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...
(
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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
(<
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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
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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. $y the completion of -y proect I am surely can say that the
person with good communication skills, !atience and a little bit of knowledge is
enough to be a marketing manager. 8hile 4oming to the point of achievements,
our 3ob is to collect database and the finally selling the policyBs still now. %o it will
take some time to get the results. I am so happy with the 3T and with my work.
Tar"!ttass
TAR&ET+
%elling of insurance policy worth F%.<, 111 for month.
And recruiting I.49insurance consultancy:for months.
TA+0+
To generate a business worth of Fs ,C1,111
(C
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Fecruiting of 1 ics for four months period
Ac$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+
(/
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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
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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.
*
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(. 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.
*(
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*. +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
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/. 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 $enefits (1
Int!rr!tation:
In the survey I came to conclude that (K of people are investing by Tax benefits because only
business people invest for their tax benefits. 0CK of people are investing due to fund performance
because middle class people expect high returns and rest of the people basing on company brand
value.
*
Ivest!et "ecisio of people
Company/Brand
Value
Fund
Performance
Tax Benefits
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<. Pr!6!rrin" o6 insuranc!
*<
OPTION O( CU+TOMER+
security (<
Assured in returns *
?ess risk (
Tax benefits (1
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Interpretation
(<K of investors felt that mutual funds are OsecurityB , *K of investors felt that insurance
can give more OreturnsB, (K of investors felt that insurance have Oless riskB , (1K of investors felt
that insurance have tax benefits.
0. T! o6 Insuranc! P!ol! r!6!rrin"
Investment option K of !eople
6early *<
*0
0
10
20
30
0
!0
" #F C$ST#%&'S
#referri$ of %&t&al F&"s
security
(ssured in
returns
)ess ris*
Tax +enefits
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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
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-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
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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
*/
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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
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>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 :