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Research Report On ROLE OF OUTDOOR ADVERTISING IN BRINGING AWARNESS ABOUT INSURANCE PRODUCTSubmitted in partial fulfillment of the requirement For the degree Master of Business Administration Session : 2012-2014 Under the Supervisor:- Submitted by Mr. ABHISHEK SIR DEEPAK KUMAR

Deepak Kumar

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Text of Deepak Kumar

Chapter 1

Research Report

On

ROLE OF OUTDOOR ADVERTISING IN BRINGING AWARNESS ABOUT INSURANCE PRODUCT

Submitted in partial fulfillment of the requirement

For the degree

Master of Business Administration

Session : 2012-2014

Under the Supervisor:-

Submitted by

Mr. ABHISHEK SIR

DEEPAK KUMAR(Faculty Member)

MBA IV Semester

F.M.T., Varanasi

Roll No.-1215470009HARISHCHANDRA P.G. COLLEGE

BAWAN-BEEGHA, VARANASI-221002

DECLARATION

I DEEPAK KUMAR hereby declare that the research report entitled ROLE OF OUTDOOR ADVERTISING IN BRINGING AWARNESS ABOUT INSURANCE PRODUCT Submitted in partial fulfillment of the requirement for the Award of the degree of MBA . It is the original work of mine and not submitted for the award of any degree or similar title or prize. Place:

(DEEPAK KUMAR)

Date:

ACKNOWLEDGEMENTAny accomplishment requires the effort of many people, and this work is no different.

I hereby express my heartiest gratitude to my project guide, Mr. Abhishek Sir, (Faculty member), for giving me an opportunity to complete my project report under his supportive guidance. I am very grateful to him for his valuable suggestion and for sharing with me his past experience related to the project.

I am also very thankful to our Director of Institute Of Management sciences Varanasi, Dr.. R.C.sharma for his generous cooperation and guidance without which it would not have been possible for me to complete my work.

I also thankfull to all my faculty members, all my friends and the people who are directly or indirectly related to project and helped me out for completing my work successfully.

Place:

DEEPAK KUMAR Date: TABLE OF CONTENTS

1. Introduction

1.1. Industry Profile

1.2. Company Profile

1.3. Product Profile

2. Research Methodology

2.1. Research Objectives

2.2. Research Design

2.3. Sample Design

2.4. Methods of Data Collection

2.5. Data Analysis

3. Analysis and Finding

4. Limitations

5. Conclusions and Recommendations

Appendices

Bibliography

Chapter 1

Introduction

1.1 Objectives of the Study

1.2 Primary Research

1.3 Secondary Research

1.4 Limitations of the Study

1.5 Media Industry & Overview

1.1 Objectives of the study

Marketing Strategies adopted by insurance companies in India.

To know about the companies strategies for choosing outdoor media for insurance product.

To know about the consumer awareness about the outdoor media.

To know the consumers satisfaction about the outdoor media for insurance product.Research Methodology

The methodology adopted for this project involves Primary data and Secondary data.

1.2 Primary Data A one-to-one communication was carried out with the concerned officials of the organization through a drafted and finalized questionnaire.

Information regarding the various media vehicles is obtained from the ad agency and the makers of Outdoors.

1.3 Secondary DataSecondary data is collected from various Magazines on Outdoor Advertising, Textbooks and Internet.

1.4 Limitations of the study

The project had to be completed within a very short span of time.

Thus, market study could not be carried out.

Not much of first hand information could be gathered from agency as most of them outsource Outdoors.CHAPTER - I PARTA : MARKETING STRATEGIES IN LIFE INSURANCE Concept of Marketing There are many definitions of marketing. The better definitions are focused upon customer orientation and satisfaction of customer needs:-

According to Philip Kotler - Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.1

According to P.F Drucker - Marketing is not only much broader than selling, it is not a specialized activity at all It encompasses the entire business. It is the whole business seen from the point of view of the final result, that is, from the customer's point of view. Concern and responsibility for marketing must therefore permeate all areas of the enterprise.2

The Production Concept of Marketing The production concept prevailed from the time of the industrial revolution until the early 1920's. The production concept was the idea that a firm should focus on those products that it could produce most efficiently and that the creation of a supply of low-cost products would in and of itself creates the demand for the products. The key questions that a firm would ask before producing a product were.

At the time, the production concept worked fairly well because the goods that were produced were largely those of basic necessity and there was a relatively high level of unfulfilled demand. Virtually everything that could be produced was sold easily by a sales team whose job it was simply to execute transactions at a price determined by the cost of production. The production concept prevailed into the late 1920's.

The Sales Concept of Marketing By the early 1930's however, mass production had become commonplace, competition had increased, and there was little unfulfilled demand. Around this time, firms began to practice the sales concept (or selling concept), under which companies not only would produce the products, but also would try to convince customers to buy them through advertising and personal selling. Before producing a product, the key questions were.3

The sales concept paid little attention to whether the product actually was needed; the goal simply was to beat the competition to the sale with little regard to customer satisfaction. Marketing was a function that was performed after the product was developed and produced, and many people came to associate marketing with hard selling. Even today, many people use the word "marketing" when they really mean sales.

Modern Concept of Marketing Old concept Profit maximization through sale.

Sale

Product/ service

New concept Product/ Service

Identify customers Need

Sale

Customer welfare

Profit through customer satisfaction

Fig . I -1 Represents 4 Ps 4 PS : Product planning.

Pricing polices.

Physical distribution.

Promotion policies.

MARKETING MIX FOR INSURANCE COMPANIESThe marketing mix is the combination of marketing activities that an organization engages in so as to best meet the needs of its targeted market. The Insurance business deals in selling services and therefore due weight age in the formation of marketing mix for the Insurance business is needed. The marketing mix includes sub-mixes of the 7 Ps of marketing i.e. the product, its price, place, promotion, people, process & physical attraction. The above mentioned 7 Ps can be used for marketing of Insurance products, in the following manner:

PRODUCT A product means what we produce. If we produce goods, it means tangible product and when we produce or generate services, it means intangible service product. A product is both what a seller has to sell and a buyer has to buy. Thus, an Insurance company sells services and therefore services are their product. In India, the Life Insurance Corporation of India (LIC) and the General Insurance Corporation (GIC) are the two leading companies offering insurance services to the users. Apart from offering life insurance policies, they also offer underwriting and consulting services. When a person or an organization buys an Insurance policy from the insurance company, he not only buys a policy, but along with it the assistance and advice of the agent, the prestige of the insurance company and the facilities of claims and compensation. It is natural that the

users expect a reasonable return for their investment and the insurance companies want to maximize their profitability. Hence, while deciding the product portfolio or the product-mix, the services or the schemes should be motivational. The Group Insurance scheme is required to be promoted, the Crop Insurance is required to be expanded and the new schemes and policies for the villagers or the rural population are to be included. The Life Insurance Corporation has intensified efforts to promote urban savings, but as far as rural savings are concerned, it is not that impressive. The introduction of Rural Career Agents Scheme has been found instrumental in inducing the rural prospects but the process is at infant stage and requires more professional excellence. The policy makers are required to activate the efforts. It would be prudent that the LIC is allowed to pursue a policy of direct investment for rural development. Investment in Government securities should be stopped and the investment should be channelized in private sector for maximizing profits. In short, the formulation of product-mix should be in the face of innovative product strategy. While initiating the innovative process it is necessary to take into consideration the strategies adopted by private and foreign insurance companies.

PRICING In the insurance business the pricing decisions are concerned with:

The premium charged against the policies,

Interest charged for defaulting the payment of premium and credit facility, and

Commission charged for underwriting and consultancy activities.

With a view of influencing the target market or prospects the formulation of pricing strategy becomes significant. In a developing country like India where the disposable income in the hands of prospects is low, the pricing decision also governs the transformation of potential policyholders into actual policyholders. The strategies may be high or low pricing keeping in view the level or standard of customers or the policyholders. The pricing in insurance is in the form of premium rates. The three main factors used for determining the premium rates under a life insurance plan are mortality, expense and interest. The premium rates are revised if there are any significant

changes in any of these factors.

Mortality(deaths in a particular area):

When deciding upon the pricing strategy the average rate of mortality is one of the main considerations. In a country like South Africa the threat to life is very important as it is played by host of diseases.

Expenses: The cost of processing, commission to agents, reinsurance companies as well as registration are all incorporated into the cost of installments and premium sum and forms the integral part of the pricing strategy.

Interest: The rate of interest is one of the major factors which determines peoples willingness to invest in insurance. People would not be willing to put their funds to invest in insurance business if the interest rates provided by the banks or other financial instruments are much greater than the perceived returns from the insurance premiums.

PROMOTION The insurance services depend on effective promotional measures. In a country like India, the rate of illiteracy is very high and the rural economy has dominance in the national economy. It is essential to have both personal and impersonal promotion strategies. In promoting insurance business, the agents and the rural career agents play an important role. Due attention should be given in selecting the promotional tools for agents and rural career agents and even for the branch managers and front line staff. They also have to be given proper training in order to create impulse buying.

Advertising and Publicity, organization of conferences and seminars, incentive to policyholders are impersonal communication. Arranging Kittens, exhibitions, participation in fairs and festivals, rural wall paintings and publicity drive through the mobile publicity van units would be effective in creating the impulse buying and the rural prospects would be easily transformed into actual policyholders

PHYSICAL DISTRIBUTION Distribution is a key determinant of success for all insurance companies. Today, the nationalized insurers have a large reach and presence in India. Building a distribution network is very expensive and time consuming. If the insurers are willing to take advantage of Indias large population and reach a profitable mass of customers, then new distribution avenues and alliances will be necessary. Initially insurance was looked upon as a complex product with a high advice and service component. Buyers prefer a face-to-face interaction and they place a high premium on brand names and reliability. As the awareness increases, the product becomes simpler and they become off-the-shelf commodity products. Today, various intermediaries, not necessarily insurance companies, are selling insurance. For example, in UK, retailer like Marks & Spencer sells insurance products. The financial services industries have successfully used remote distribution channels such as telephone or internet so as to reach more customers, avoid intermediaries, bring down overheads and increase profitability. A good example is UK insurer Direct Line. It relied on telephone sales and low pricing. Today, it is one of the largest motor insurance operators. Technology will not replace a distribution network though it will offer advantages like better customer service. Finance companies and banks can emerge as an attractive distribution channel for insurance in India. In Netherlands, financial services firms provide an entire range of products including bank accounts, motor, home and life insurance and pensions. In France, half of the life insurance sales are made through banks. In India also, banks hope to maximize expensive existing networks by selling a range of products. It is anticipated that rather than formal ownership arrangements, a loose network of alliance between insurers and banks will emerge, popularly known as banc assurance. Another innovative distribution channel that could be used are the non-financial organizations. For an example, insurance for consumer items like fridge and TV can be offered at the point of sale. This increases the likelihood of insurance sales. Alliances with manufacturers or retailers of consumer goods will be possible and insurance can be one of the various incentives offered.

ROLE OF IRDA IN INSURANCE SECTOR Concept of IRDA: IRDA is Insurance Regulatory Development Authority, that has been set up to protect the interests of the policy holders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental there to.

*[This definition has been taken from the IRDA website...]4

Insurance Regulatory and Development Authority To protect the interests of the policyholders Insurance Regulatory & Development Authority is regulatory and development authority under Government of India in order to protect the interests of the policyholders and to regulate, promote and ensure orderly growth of the insurance industry. It is basically a ten members' team comprising of a Chairman, five full time members and four part-time members, all appointed by Government of India. This organization came into being in 1999 after the bill of IRDA was passed in the Indian parliament.

Role of IRDA in insurance sector Regularizing the activities of the insurance companies, which were permitted to establish their business in India; besides more number of our citizens be brought into the net of life insurance cover. Then to create healthy competition among insurance companies of both general and life, besides regulating them.

specifying the percentage of premium income of the insurer to finance schemes for promoting and regulating professional organizations referred to in clause (f);

specifying the percentage of life insurance business and general insurance business to be undertaken by the insurer in the rural or social sector; and

exercising such other powers as may be prescribed

Impact of IRDA On Indian Insurance Sector The creation of IRDA has brought revolutionary changes in the Insurance sector. In last 10 years of its establishment the insurance sector has seen tremendous growth. When IRDA came into being; only players in the insurance industry were Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC), however in last decade 23 new players have emerged in the filed of insurance. The IRDA also successfully deals with any discrepancy in the insurance sector.

Regulators Insurance is a federal subject in India. The primary legislation that deals with insurance business in India is: Insurance Act, 1938, and Insurance Regulatory & Development Authority Act, 1999.Insurance Industry has ombudsmen in 12 cities. Each ombudsman is empowered to redress customer grievances in respect of insurance contracts on personal lines where the insured amount is less than Rs. 20 lakes, in accordance with the Ombudsmen Scheme.

Insurance Regulatory & Development Authority (IRDA)

IRDA was constituted by an act of parliament. The Authority is a ten member team consisting of:

(a) a Chairman (b) five whole-time members (c) four part-time members

(1) Subject to the provisions of Section 14 of IRDA Act, 1999 and any other law for the time being in force, the Authority shall have the duty to regulate, promote and ensure orderly growth of the insurance business and re-insurance business.

(2) Without prejudice to the generality of the provisions contained in sub-section (1), the powers and functions of the Authority shall include, -

(a) Issue to the applicant a certificate of registration, renew, modify, withdraw, suspend or cancel such registration;

(b) protection of the interests of the policy holders in matters concerning assigning of policy, nomination by policy holders, insurable interest, settlement of insurance claim, surrender value of policy and other terms and conditions of contracts of insurance;

(c) Specifying requisite qualifications, code of conduct and practical training for intermediary or insurance intermediaries and agents;

(d) Specifying the code of conduct for surveyors and loss assessors;

(e) Promoting efficiency in the conduct of insurance business;

(f) Promoting and regulating professional organizations connected with the insurance and re-insurance business;

(g) Levying fees and other charges for carrying out the purposes of this Act;

(h) calling for information from, undertaking inspection of, conducting enquiries and investigations including audit of the insurers, intermediaries, insurance intermediaries and other organizations connected with the insurance business;

(i) control and regulation of the rates, advantages, terms and conditions that may be offered by insurers in respect of general insurance business not so controlled and regulated by the Tariff Advisory Committee under section 64U of the Insurance Act, 1938 (4 of 1938);

INSURANCE CONTRACT The insurance contract is a legal document that spells out the coverage, features, conditions and limitations of an insurance policy. It is critical that you read the contract and ask questions if you don't understand the coverage. You don't want to pay for the insurance and then find out that what you thought was covered isn't included. Insurance terminology you should know:

Bound Once the insurance has been accepted and is in place, it is called "bound". The process of being bound is called the binding process.

Insurer A person or company that accepts the risk of loss and compensates the insured in the event of loss in exchange for a premium or payment. This is usually an insurance company.

Insured The person or company transferring the risk of loss to a third party through a contractual agreement (insurance policy). This is the person or entity who will be compensated for loss by an insurer under the terms of the insurance contract.

Insurance Rider/ Endorsement An attachment to an insurance policy that alters the policy's coverage or terms

Insurance Umbrella Policy When insurance coverage is insufficient, an umbrella policy may be purchased to cover losses above the limit of an underlying policy or policies, such as homeowners and auto insurance. While it applies to losses over the dollar amount in the underlying policies, terms of coverage are sometimes broader than those of underlying policies.

Insurable Interest In order to insure something or someone, the insured must provide proof that the loss will have a genuine economic impact in the event the loss occurs. Without an insurable interest, insurers will not cover the loss. It is worth noting that for property insurance policies, an insurable interest must exist during the underwriting process and at the time of loss. However, unlike with property insurance, with life insurance, an insurable interest must exist at the time of purchase only.

Nature of life insurance contract Unilateral

An Aleotory

Conditional

Contract of adhesion

Contract of certain amount

Essential general contract" 5

General Nature of a contract Offer & Acceptance

Consideration

Competence of parties

Legality of object

Free consent of the parties" 6

THE INSURANCE ACT, 1938 THE INSURANCE ACT, 1938 ACT NO. 4 OF 1938

[26th February, 1938.]

An Act to consolidate and amend the law relating to the business of insurance.

WHEREAS it is expedient to consolidate and amend the law relating to the business of insurance; it is hereby enacted as follows:--

PART I

PRELIMINARY

1*[(2) It extends to the whole of India 2***.] (3) It shall come into force on such date 3* as the Central Government may, by notification in the Official Gazette, appoint in this behalf.

2. Definitions. In this Act, unless there is anything repugnant in the subject or context,--

(1) "actuary" means an actuary possessing such qualifications as may be prescribed ;

4*[(2) "policy-holder" includes a person to whom the whole of the interest of the policy-holder in the policy is assigned once and for all, but does not include an assignee thereof whose interest in the policy is defensible or is for the time being subject to any condition ;]

5*[(3) "approved securities" means--

(i) Government securities and other securities charged on the revenues of the Central Government or of the Government of a 6*** State or guaranteed fully as regards principal and interest by the Central Government, or the Government of any 6* State;

Extended to Goa, Daman and Diu with modifications, by Reg. 12 of 1962, s. 3 & Sch.

The Act comes into force in Pondicherry on 1.10.1963 vide Reg. 7 of 1963, s. 3 and Sch. I.

Extended to and brought into force in Dadra and Nagar Haveli (w.e.f.

1.7.65) by Reg. 6 of 1963, s. 2 & Sch. I.

Extended to Laccadive, Minicoy and Amindivi Islands (w.e.f.

1.10.1967): vide Reg. 8 of 1965, s. 3 & Sch.

Extended to and brought into force in the State of Sikkim (w.e.f.

1.7.1975) vide Notifn. No. S.O. 274(E), dated 24.6.1975. [See footnote 1 for this section]

(ii) debentures or other securities for money issued under the authority of any Central Act or Act of a State Legislature by or on behalf of a port trust or municipal corporation or city improvement trust in any presidency-town ;

(iii) shares of a corporation established by law and guaranteed fully by the Central Government or the Government of a 1* State as to the repayment of the principal and the payment of dividend ;

(iv) securities issued or guaranteed fully as regards principal and interest by the Government of any Part B State and specified as approved securities for the purposes of this Act by the Central Government by notification in the Official Gazette ; and (v) subject to the limitations contained in the proviso hereto, securities guaranteed fully as regards principal and interest by a Provincial Government in Pakistan or charged on the revenues of any part of that Dominion, and debentures or other securities for money issued by or on behalf of the trustees of the port of Karachi :

Provided that securities or debentures specified in item (v) shall be recognized as approved securities only for such purposes and for such period and subject to such conditions as may be prescribed;]

2*[Explanation.-- In sub-clauses (i) and (iii), "Government of a State" in relation to any period before the 1st November, 1956, means the Government of a Part A State.]

3*[(4) "auditor" means a person qualified under the Chartered Accountants Act, 1949 (38 of 1949), to act as an auditor of companies;] 4*[(4A) "banking company" and "company" shall have the meanings respectively assigned to them in clauses (c) and (d) of sub-section (1) of section 5 of the Banking Companies Act, 1949 (10 of 1949)5*;]

(5) "Certified" in relation to any copy or translation of a document required to be furnished by or on behalf of

[See footnote 2 for this section]

1*[an insurer or a provident society as defined in Part III] means certified by a principal officer of 2*[such insurer or provident society] to be a true copy or a correct translation, as the case may be;

3*[(5A) "chief agent" means a person who, not being a salaried employee of an insurer, in consideration of any commission--

(i) Performs any administrative and organizing functions for the insurer, and (ii) procures life insurance business for the insurer by employing or causing to be employed insurance agents on behalf of the insurer;

(5B) "Controller of Insurance" or "Controller" means the officer appointed by the Central Government to perform the duties of the Controller of Insurance under this Act;]

(6) "Court" means the principal Civil Court of original jurisdiction in a district, and includes the High Court in exercise of its ordinary original civil jurisdiction;

3*[(6A) "fire insurance business" means the business of effecting, otherwise than incidentally to some other class of insurance business, contracts of insurance against loss by or incidental to fire or other occurrence customarily included among

THE LIFE INSURANCE CORPORATION ACT, 1956 THE LIFE INSURANCE CORPORATION ACT, 1956 ACT NO. 31 OF 1956[18th June, 1956.]

An Act to provide for the nationalization of life insurance business in India by transferring all such business to a Corporation established for the purpose and to provide for the regulation and control of the business of the Corporation and for matters connected therewith or incidental thereto.

BE it enacted by Parliament in the Seventh Year of the Republic of India as follows:--

CHAPTER I

PRELIMINARY

1. Short title and commencement. (1) This Act may be called the Life Insurance Corporation Act, 1956.

(2) It shall come into force on such date 1* as the Central Government may, by notification in the Official Gazette, appoint.

2. Definitions. In this Act, unless the context otherwise requires,--

(1) "Appointed day" means the date on which the Corporation is established under section 3;

(2) "Composite insurer" means an insurer carrying on in addition to controlled business any other kind of insurance business;

(3) "Controlled business" means--

(i) in the case of any insurer specified in sub-clause (a) (ii) or sub-clause (b) of clause (9) of section 2 of the Insurance Act and carrying on life insurance business--

(a) All his business, if he carries on no other class of insurance business; (b) All the business appertaining to his life insurance business, if he carries on any other class of insurance business also;

Extended to and brought into force in Dadra and Nagar Haveli (w.e.f. 1.7.65) by Reg. 6 of 1963, s. 2 & Sch. I.

Extended to Goa, Daman and Dui by Reg. 11 of 1963, s. 3 & sch.

(with modifications)

Extended to the Union territory of Pondicherry by Act 26 of 1968, s. 3 and Schedule.

1. 1st July, 1956, see Gazette of India, 1956, Extraordinary, Pt.

II, Sec. 3. p. 1531.

246 (c) all his business, if his certificate of registration under the Insurance Act in respect of general insurance business stands wholly cancelled for a period of more than six months on the 19th day of January, 1956;

(ii) In the case of any other insurer specified in clause (9) of section 2 of the Insurance Act and carrying on life insurance business--

(a) All his business in India, if he carries on no other class of insurance business in India;

(b) All the business appertaining to his life insurance business in India, if he carries on any other class of insurance business also in India;

(c) all his business in India, if his certificate of registration under the Insurance Act in respect of general insurance business in India stands wholly cancelled for a period of more than six months on the 19th day of January, 1956;

Explanation.-An insurer is said to carry on no class of insurance business other than life insurance business, if, in addition to life insurance business, he carries on only capital redemption business or annuity certain business or both; and the expression "business appertaining to his life insurance business" in sub-

Clauses (i) and (ii) shall be construed accordingly;

(iii) in the case of a provident society, as defined in section 65 of the Insurance Act, all its business;

(iv) in the case of the Central Government or a State Government, all life insurance business carried on by it, subject to the exceptions specified in section 44;

(4) "Corporation" means the Life Insurance Corporation of India established under section 3;

(5) "Insurance Act" means the Insurance Act, 1938 (4 of 1938);

(6) "Insurer" means an insurer as defined in the Insurance Act who carries on life insurance business in India and includes the Government and a provident society as defined in section 65 of the Insurance Act;

(7) "Member" means a member of the Corporation;

(8) "Prescribed" means prescribed by rules made under this Act;

247 (9) "Tribunal" means a Tribunal constituted under section 17 and having jurisdiction in respect of any matter under the rules made under this Act;

(10) All other words and expressions used herein bu...

CONCEPT OF INSURANCE An introduction to insurance With the insurance sector in full bloom, today, it would not be wrong to say that in the present market scenario, there is an insurance available for just about anything and everything. With even a bourgeois family man opting for various insurance schemes, the question today is not whether you have insurance or not. Instead it is, whether you need a particular insurance or not? Insurance is no doubt an area of immense importance in regards to the financial and monetary sectors of every individual. The whole idea behind Insurance as a financial security tool was to design something which could secure the financial well-being of an individual as well as his/her dependents, in case he/she undergoes an unforeseen loss. These losses could be related to health, property, assets or life in general. Insurance helps people manage monetary risks and losses related to investments, liabilities for wrong financial actions, and risks for inability to earn income at any stage of life. Insurance generally covers all these risks.

Media Industry & OverviewAdvertising is one of the integral elements of the marketing process, just as sales, product design, promotion and customer service are. We might look at advertising as the mass selling of a product. Where is advertising seen or heard? In the media. What business is an advertising agency in? In the advertising creation and placement business. What business is the media in? The advertising delivery business.

Professionals throughout the entertainment & media industries can help develop stories to capture and move audiences in ways many did not know were possible while drastically enhancing the collaborative process from concept to successful release. Studios, networks, and production companies can capture, develop, and successfully market the best material possible while drastically cutting investments on ineffective to outright misguided story and project development with more consistent results. Everyone will have a common creative language.

In the past decade information technology has undergone substantial changes. The Internet, digital television, virtual reality are only a few examples. The convergence of different types of media forms (e.g. computers, satellites, networks, etc...) have and are currently changing society into what many people refer to as the, "Digital Age." These developments are not solely dependent on technological factors as much of the popular "hype" asserts.Accordingly we will examine new media from cultural, historical, legal, and psychological perspectives.

"Cyberspace and Communication" encompasses a wide array of issues and topics. Accordingly, we will cover numerous areas with a focus on the Internet, and the World Wide Web. However, it is difficult to distinguish between convergent media systems and forms often labeled "new media" - in contrast to the "legacy" media routinely studied in telecommunications programs. Thus, on occasion we will discuss other new media technologies including, streamed digital broadcasting, networking, film innovations, and other emerging media forms.

The media industry has unique qualities that distinguish it from other industries. One is its privileged legal position under the First Amendment guarantee of freedom of the press, making the media exempt from government restraints and oversight as compared with other businesses.

Many critics have expressed dissatisfaction with how the mass media industry has lived up to such responsibility. Media coverage of political elections has been criticized for focusing on campaign tactics and personal foibles of political candidates rather than substantive issues. Newspapers and television news media programs have been criticized for simply covering the latest murder or sensational crime story rather than substantively investigating the causes of and solutions to crime.

The media and Information Technology (IT) scenario has undergone a radical change in the recent past in India as it has happened elsewhere in the world. The change is both quantitative as well as qualitative. It is also observed that the gap between invention of new technology in the Western world and its use in India is also reducing day by day. Earlier technologies took comparatively longer time to develop roots in the country. But now days, soon after a new technology is developed anywhere in the world, it starts getting used in India too.

Take any technology, whether it is electronic, print or information technologies, the growth has been very rapid in the last decade and a half. It will be seen in later part of the article how the individual technologies have grown during this period. The growth also contributes to expansion of the reach as well as access. It is also found that the growth is not necessarily restricted only to urban areas as it used to happen in the past. It spreads to smaller towns and rural areas also in reasonable time. Apart from the rapid growth, the change is also facilitated largely due to the increased user friendliness of the technology. The government has been creating a more facilitative regulatory regime. The emphasis is now on encouraging expansion and reducing the obstacles that come in the way. Some of the rules and regulations have been changing fast. In the earlier days, the change in the rules used to be very slow and tedious, but over the years the situation is improving. The socio-political atmosphere is more open and this greatly supports both the changes in rules and regulations as well as efficient implementation of the policies. The whole growth process has obviously become possible because the technologies have become more affordable and also because the society has started understanding the importance of new communication technologies.

The speed and type of changes have varied from technology to technologya. The Broadcast Media: This will include radio, television and related media;b. The Print Media; andc. Telecommunications: This will include telephones, pagers, cellars, computers and the Internet.It is seen that some of the characteristics traditionally associated with a particular medium are undergoing changes. The distinctions between different media are getting slowly blurred. It is no longer possible to say that a medium is strictly a print medium. Obviously these newspapers and magazines are no longer print media. It also used to be believed that there is a certain amount of permanency or lack of permanency of the output of a medium Because once they are transmitted, it is not possible to have a re-look at them. However, the invention and ease of recording has changed the scenario. It is possible to record any television programme at any time and watch it one's convenience. Similarly, the print medium considered being more permanent than the ethereal TV or radio services. However, if the newspaper is only on the Internet, it can no longer have that characteristic. Of course, it is always possible to download and take a hard copy and this again make it into a print or permanent medium. The biggest change, however, has come through the marriage of different technologies. The greatest contribution has come from the personal computer.

Cinema

India is the leader in the number of film productions. It produces the highest number of films in the world every year. India produces on an average about 800 feature films per year. In 1996 there were 12,867 Cinema halls with a seating capacity of 7.3 per 1000 population. The films are produced in many languages by a large number of individual producers and production houses. Indian cinema has yielded about 28,000 feature films and thousands of documentary short films so far. The first exposure to motion pictures, which India received, was in 1896, when the Lumiere Brothers' 'Cinematographe' unveiled six soundless short films in Mumbai (called Bombay). On May 3, 1913 at the Coronation Cinema, Bombay, Dhundiraj Govind Phalke, was responsible for the production of India's first fully indigenous silent feature film 'Raja Harishchandra' that heralded the birth of the Indian film industry. The first Indian talkie 'Alam Ara' produced by the Imperial Film Company and directed by Ardeshir Irani was released in 1931. The thirties are recognised as the decade of social protest in the history of Indian cinema. The film industry is the major entertainment industry. It also provides a very substantial support to the television channels. A large number of programmes are feature films based - songs, dances, and a good deal of prime time is taken up by full-length feature films.

B. PRINT MEDIANewspaper/Magazines

The newspaper industry has traditionally functioned as a free press in India. The freedom of expression and independence for print media has been ensured in the Indian constitution and the newspapers zealously guard this independence. It is of significance to note that there is no pre-censorship for newspapers. However, there are certain laws of the land, which apply to the newspaper industry. There is Press Council with quasi-judiciary powers.

The Gujarati Daily Bombay Samachar, started in 1822 AD, is the oldest existing newspaper in Asia. Apart from English and 18 principal languages enumerated in the Eighth Schedule of the Constitution, newspapers are published in 81 other languages, mostly Indian languages and a few foreign languages. The total number of newspapers and periodicals as of December 1995 was 37,254. The total number of Daily Newspapers in India is 4,236.

Media ProcessOnce the advertising is created, the focus shifts to how best we can take it the people. Who are the people we need to reach, how can we reach them, where and when can we deliver our ads to them, how often do we need to reach them, and what will it cost us to do so?

The Media StrategyMedia Strategy refers to a specific course of action with the media. It describes how the media planner will achieve the stated media objectives. There are 4 strategic decisions to be taken by the media planner:

Which media will be used?

How often each will be used?

How much of each will be used?

When will they be used?

The media planner has to take the following factors when developing a media strategy:

Scope of the target audience

Consumer purchase patterns

Mechanical considerations

The Media PlanningThe Media Planning process starts with looking at what objectives the media plans need to achieve, and what kind of media budgets are available to do so. The first step in media planning i.e. to match the media with the target group. The better the match of the target with the media, the less will be the money wasted on delivering the messages to the consumers for whom the product was intended to. This is known as weighting.

The second step in media planning process will be the selection of the Media Mix or the most optimal combination of media. It is important for the media planner to distinguish between media types, vehicles and media units.

Media BuyingMedia planning also involves allocating media budgets to media types. Budgets may be allocated based on the importance of media types and/or geographic regions. Geographic allocation usually marketing objectives.

REGIONSALES POTENTIALBUDGET GOAL

(based on sales potential

SOUTH25%Rs. 50 lakhs

EAST15%Rs. 30 lakhs

WEST30%Rs. 60 lakhs

NORTH10%Rs. 20 lakhs

Media buying may be defined as the process of executing a schedule of desired media weights for brands at a lowest possible cost. The media buying process can be divided into 2 broad stages:

- Deciding what to buy

- Setting out to buy at the most competitive rates.

INSURANCE MARKETING AND DISTRIBUTION

INTRODUCTION

The life insurance industry in India has a great potential to develop. It can develop only if it accepts the problems and challenges and makes use of the significant opportunities available in the country. Particularly, the marketing strategy of insurance companies ultimately leads to a change aimed at merger and consolidation, the efficiency of the insurance system and also wider and efficient coverage. Marketing of life insurance service is considered a difficult area to be seen. It is also a more challenging phenomenon in India. The insurance selling process is required to be transparent and create educative value to the prospects. Only a professional approach to the marketing programs will serve the purpose of dealing positively with the consumers.

Insurance is a business of sacrifice. This is mainly due to the fact that the sacrifice of the customer by way of paying premium is real and present. The benefits of insurance are recovered after a long period and hence it is not attractive to people. Insurance is like sand when it is bought and gold when it is realized. Given a choice, people would postpone the decision to buy insurance as they do not realize its benefit at the time it is offered. They have to be convinced1.

Insurance marketing must be considered as a positive trend by the consumers since it develops the habit of buying insurance products to protect the health of their families and also their assets at a future date. The strategies of insurance marketing are to be designed in such a way that they attract the different sections of the society by identifying the need of the

1Neelam C.Gulati, Principles of Insurance Management, Excel Books, New Delhi, 2007, p.257.254

prospects and also the designing of the suitability of the product. The marketing strategies should be designed for maximization of insurance gains to the customers rather than minimization of insurance risk. It needs larger investment of both time and effort besides talented marketing personnel as it is a difficult job to undertake.

The marketing of life insurance is universally considered a matter of highest priority at all levels in different institutions. New marketing methods occupy a significant place among top management intelligentia. These include an aggregation of the salesmanship of the marketing personnel and the professional approach to the marketing problems by the top management. It should contemplate the concept of insurance positively by convincing the customers to make their life happier. Buying insurance by a customer needs to be a matter of their longevity. The insured will be understood through marketing that life is not about how many years he lives but about how he lives is of paramount importance.

There is no product differentiation in insurance business. One company offers today may be offered by some other company tomorrow. To reduce the level of competition among insurance companies, the insurers have to stand efficiently in the area of communicating their products early to the customers through insurance marketing.

The liberalization of Indian life insurance sector has created many changes in the market place. This results in massive inflow of foreign brands and also a revolutionary change in the consumer behavior. These changes require a movement of the insurance sector from production-driven marketing to the professional marketing. The market development taken place by liberalization results in many changes in the intermediary role of the distribution channels. The insurance arena has been shifted to a market- oriented environment and hence the insurance system has been adjusted to 255

the new changes and also major challenges of insurance distribution. Focus on the distribution channel is an important pre-requisite to an efficient sale of insurance product.

The Indian insurance industry has been strongly growing for the last few years. To ensure improved penetration of insurance, the distribution system of insurance has to be more focused. And also the well established training and educational organizations should play a significant role in educating and motivating people. This provides good opportunities to improve the delivery mechanism and also tap the vast market. Marketing requires intriguing creative implying updating knowledge on the markets with global perspective which calls for availability of enough right data or information at the hands of the operating offices. It needs appropriate comprehension of markets2.

Insurance selling should not be regarded as a mere act of selling insurance policies. But, it must be regarded by the policyholders as a habit of buying insurance policies to protect the health and assets of their families at a later date. Hence, the goal of distribution management is to maximize sales, attract maximum market share, tap new markets, find out the customer needs and preferences and above all promote customer satisfaction.

ROLE OF DISTRIBUTION

Distribution of insurance products and efficient service delivery has been an important element of insurance business. The development taken place in the insurance sector is made possible only with the efficient role played by the distributors in delivering insurance products. A significant feature of the complete process of distribution and service delivery of insurance product is that the multiple distribution channels have yielded many service benefits not only to the company but also to customers. The process

2Satish S.V. Life Insurance Marketing A Phenomenon, Southern Economist, February 15, 2009, p.37.256 of channel diversification and expansion has accelerated in India since insurance liberalization. Many insurers have intensified their efforts for establishing and developing cost-efficient and result-oriented distribution strategies.

Due to the emerging convergence and globalization, the entire insurance industry is undergoing rapid changes. The lower middle class customers are more concerned with savings and consequent tax planning and hence rely on insurance. Brokers, agents, direct agents and bancassurance offer good services to these customers. The rural and semi-urban customers are generally the average working class population. They can afford to save a little amount. They have little knowledge of insurance. Only agents can reach these customers.

The corporate customers and institutional investors are interested in liability insurance, group insurance and healthcare insurance. They are largely situated in metropolitan centers and cities. They required altogether a different distribution strategy. Most of these customers are cost-conscious and well- informed. Corporate agents, brokers and direct marketing are ideally suitable to attract these customers.

Consequently from a single channel industry i.e., the individual agent, the industry, at present, has embraced a few well established channels and continues to experiment with a few more. In the light of severe competition amongst insurers, the new distribution strategies require complete professionalism and flexibility towards facing marketing challenges. A well- trained and plain-speaking distributor has the ability to be the best brand ambassador for any insurance player. Market expansion, consumer loyalty, consumer preferences and competition amongst life insurers will initiate innovations in the distribution segment. This ensures good capacities and capabilities on the part of distributors so that there are no practices of mis-257

selling and misrepresentation of the facts. Although there is discernible difference in the marketing styles of the present day insurers, a great qualitative improvement is yet to be perceived. The marketing initiatives of the new companies have certainly helped to enhance insurance awareness in the country.3Insurance is a business of keeping peoples hopes, aspirations and expectations through a life insurance contract. It is more important for insurance companies to be transparent at the time of selling. The policy documents should be as simplified as possible with minimal fine print4.

The distributor is the first line representative of the life insurance company and assumes greater responsibility in initial underwriting of the policies. The distributor should understand the needs of the prospective customer and recommend suitable policy that satisfies his needs. As a result, the business retention ratios will improve and the persistency ratio will increase. The distributor is well trained and equipped in identifying properly the needs of the customers. He requires to be well-versed in all matters relating to his job for favour of a proper matching between the needs of the customer and also the service delivery.

A distributor is the vital link in the policy life cycle. His role begins the time he starts prospecting till settlement of claims. A life insurance agent is the key distributor. However, insurance brokers and other intermediaries also play a key role in this process5. The insurers, at present, require immense distribution strength and tremendous manpower to reach out to the present huge customer base available for insurance service in our country. The future of distribution for insurance products is a brave new world and it will require

3David Chandrasekharan, Marketing of Life Insurance Have Things Really Changed?, IRDA Journal, May, 2009, p.18.

4Anjana Agarwal, Emphasis on Trust Grievance Management in Insurance, IRDA Journal, October, 2011, p.28.

5Baradhwaj, C.L., Arresting the Trends Frauds in Insurance Industry, IRDA Journal, June, 2011, p.29.258

both courage and judgment to lead an organization into the rapidly unfolding realm of possibilities6.

The insurance companies have to concentrate mostly on non- traditional and more innovative channels and also multi-level delivery systems. Under these systems, like in the West, the customers can buy an insurance product from any bank, mall, post office, internet cafes, etc. The distribution systems have been influenced significantly by cost pressures. Besides, competition for saving amounts of the consumers is also intensifying. An efficient and effective distribution strategy for life insurance products should also be mostly customer-centric. It should represent both the customer and the company goals.

Customer retention marketing is a process whereby marketers look at building a long term association with their customers. This involves a continuous process of interaction with the customer at any point of time. It needs to understand the needs of the customers and provide products and services accordingly7.

One of the major challenges of insurance marketing is to identify which distribution method fits best and suitable to the business. The decisions relating to distribution strategies must be made dependent upon what the other insurers are doing. It is very common that every business insurance prospect expects to receive customized service from his insurer. But, busy agents can hardly afford any time or expense to present an individualized proposal each time. A little extra care and attention to some often overlooked talents can fill this gap and guide the insurer close to the sale8.

6Chari, V.G. Insurance A Re-look at the Distribution Strategy, Insurance Chronicle, March, 2005, p.31.

7Teena Makhija, Retention Marketing The Key to Business Performance, The Journal of Insurance Institute of India, Mumbai, January-June, 2008, p.55.

8Shulman, Allen L., Nine ways to get personal when selling Business Insurance, Insurance Chronicle, March, 2005, p.40.259

Most of the private insurers are very much trying for a right channel mix for reaching the potential customers. It is the distributor who makes the difference in terms of the quality of advice for choice of product, after-sale service and settlement of claims. The distributors should become trusted financial advisors for the customers and trusted associates for the insurers.

The new companies are looking for well educated, knowledgeable individuals with an interest in insurance marketing. At present, insurance companies are moving from merely selling insurance to marketing an essential financial product. New players are finding expensive and time- consuming to bring up a distribution network of good and cost effective standards. Usage of alternate channels will help, to some extent, bring down the costs of distribution and thus, benefit the customers and insurers both.

Channel conflicts may arise in some cases. But, those must be regulated to the best advantage of the customer and the insurer. The distribution strategy cant be taken up in isolation. Major elements like, the organization structure, systems, processes, employees, organizational cultures are to be taken care of by the insurer for designing the distribution strategy. The insurance companies consider this distribution channel profitable due to low customer acquisition cost, quicker reach to untapped markets, introduction of innovative products and administrative convenience and suitability. The quality of service rendered by the distributor should be made the key parameter for efficient distribution management and also persistence.

INSURANCE ADVERTISING

At present, insurance advertisements take up a lot of space in television or print media. The emphasis on insurance advertising is on creative and accent on awareness. The communication in advertising is modern, young, approachable and conveying the difficult product offering. The 260

insurance selling activity usually reaches a peak around March and it needs to be taken into account by the insurers in spending marketing budget on insurance advertising. The visual is always more effective and universal.

The ICICI Prudential is the first private insurance company to recognize and use the power of TV advertising with its Sindoor campaign in 2001. The retirement solution campaign of the company with the tagline Retire from work not life also has attracted a good number of customers.

SBI life has 63 per cent business coming from bancassurance. Its advertisements are mostly confined towards saying people that they can buy insurance from the bank. Their advertisements consist of branch merchandising. It is more about point-of-purchase type of advertising. LIC has contemplated celebrity marketing a segment noted for the presence of high net worth individuals. Life insurance products have accounted for about 88 per cent of overall insurance advertising expenditure with Life Insurance Corporation topping the list of advertisers

Media types for AdvertisingThe opportunities for offering space and time to advertisers have mushroomed since the early days of Pompeii when messages were carved out with a stylus on the sides of buildings. Today, a number of channels have been accepted as major advertising media. The major ones available for advertising purpose are: newspaper, magazines, radio, television, direct mail, outdoor displays and online advertising. Newspaper:Newspapers come under the print media. The characteristics of newspaper advertising are- high coverage, low cost, short lead time for placing ads, Ads can be placed in interest sections, Low cost Timely (current ads), Can be used for coupons, Short life, Clutter Low attention-getting capabilities, Poor reproduction quality, Selective reader exposure.

Magazines:Magazines are also included under the print media. The characteristics of magazines are-segmentation potential, Quality reproduction, High information, content Longevity, Multiple readers, Long lead-time for ad placement, Visual only, Lack of flexibility.

Radio:It is a broadcasting media. The characteristics of radio as an advertising media are- Local coverage, Low cost, High frequency, Flexible, Low production costs, Well-segmented audiences, Audio only, Low attention getting, Fleeting message.

Television:It is also a broadcasting media. The characteristics of this media are- Mass coverage, High reach, High prestige, favorable image, Low cost per exposure, Attention getting, Low selectivity, Short message life High absolute cost High production costs.

Direct mail:The characteristics of this media are- High selectivity, Reader controls exposure, High information content, Opportunities for repeat exposures, High cost/contact, Poor image (junk mail).

Outdoor displays:This media includes posters, neon signs, banners, hoardings, transit, sky advertising, kiosks, etc. The characteristics of this media are- High coverage, Location specific, High repetition, Easily noticed, Short exposure time requires short ad, Poor image, Local restrictions.

Online advertising:This includes Internet advertising, advertising on mobile phones (SMS advertising) etc. The characteristics of this media are- Flexible Timely (current ads), Reader controls exposure, Impact of media (sound, video, animation and so on), Low attention getting, Selective reader exposure, Poor image.

Future of Outdoor Advertising

The size of the outdoor media industry in India is estimated to be about 11% of the total 05 media spends of Rs. 11,000 crores. Due to the fragmented nature of the industry, there is no single audited figure of spends on outdoors.

In terms of potential, the Indian outdoor industry is bigger than that in U.K., Germany and the U.S. where the market share is 5.2, 3.2 and less than 2 percent respectively. Additionally, with printing & site level impact enhancing innovations gaining importance, the outdoor industry offers tremendous potential for growth. Retail & Multiplex Space are the newer applications for this media.

Outdoor advertising has traditionally lagged behind other media. This has made outdoor planning and buying very subjective. But there are some profound changes on the anvilcrystal gazing into the future of outdoors and attempting to answer the direction the medium is predicted to go, the medium is bound to recast itself in the years to come & become an increasingly potent media vehicle.

The cornerstone of this hypothesis is that outdoor will become an increasingly important element of the media mix most certainly for some new age categories like telecom, automobiles both 2 wheelers and 4 wheelers, Insurance, durables and this will drive media spends to increase to 20% levels from the current 11%. These high outdoor consuming categories will demand greater width & depth of outdoor deliverables.

As affluence spreads into Indias hinterland, marketers will train their sights to find focused and localized media to supplement visibility. As the market demand led change surges ahead across markets large and small, the large towns will be the first to fell the heat of market and media saturation & media inflation. This will throw up interesting localised opportunities for outdoor media practitioners in small and mid-size towns. Outdoors can lead this localised media surge & attempt to match the demand led footprint.

Today outdoor includes an enormous selection of media display products (billboards, transit, street furniture, and alternative outdoor media). The status of outdoor has improved as it is being repositioned from a limited, fragmented, price-driven local medium to a powerful, cost-effective, high reach, synergy medium

Today the Indian advertising scenario is as unpredictable as the British Weather, You never know whats next but with little imagination, outdoor advertising is an ideal medium for achieving local reach, frequency and continuity on a very limited budget. As a national and global medium, outdoor advertising has achieved great success. In todays growing advertising industry each medium has created a place for itself. As each medium offers something better or different than other medium may / may not offer, outdoor carries the message 24 hours with good geographical and demographical flexibility which helps break linguistic barriers and helps to create an impact on the precise target group.

Today outdoor is so popular that demand now exceeds supply, but such hurdles would definitely be overcomed by a whole new generation of buzzing advertisers, who will find out new outdoor tools with guaranteed innovation. With the family members working income levels increasing their purchasing power also increases. Increase in education standards in the country means more people are responsive to the advertising stimulus and hence there are greater needs of advertising. As regards product lifecycle, it is obvious that in future also, firms will need to concentrate in growth areas to achieve or maintain leadership position. Outdoor advertising is bound to grow with the extension in the national highways. Due to increase in the number of automobiles in use, the dispersion of population to the suburbs will lead to greater mobility of the people. The more people travel, the more people are exposed to this medium.

Future of Indian advertising, if spoken about is definitely growing as technology and right infrastructure of a country is directly related to each other.

We also have to accept the fact that Indoor advertising especially Television is growing at a very rapid rate, but outdoor is going to definitely catch up, as today Indian brands are going more and more local; India is a country with great diversity in Culture from village to village so advertisers have to face a lot of linguistic barriers. This need compared to all other mediums is best catered by outdoors. Technologically too outdoors advertising has started to move from painted hoardings to digitally Vinyl Printed Hoardings in the urban areas.

FINDING AND ANALYSISGENDER

MALE70

FEMALE30

1) GENDER a) MALE

b) FEMALE

INTERPRETATION1.70% of the respondents were male.

2) MARITAL STATUS a) MARRIED

b) UNMARRIED

MARRIED65

UNMARRIED35

INTERPRETATION2.65% of the respondents were MARRIED.

3.EDUCATIONAL QUALIFICATIONANY PROFESSIONAL DEGREE (MBA/CA)35

GRADUATE45

POST GRADUATE15

UNDER GRADUATE/12th OR EQUIVALENT5

INTERPRETATION3.45% of the respondents were Graduate. 4) OCCUPATIONAL BACKGROUND

a) GOVT SERVICES

b) PVT JOB

c) PROFESSIONAL (CA/MBA)

d) OTHER..

Govt. SERVICES30

PVT. JOB42

professional14

others14

INTERPRETATION4.42% of the respondents WERE DOING PVT. JOB.

5) Do You have any insurance policy ?

Yes55

No

45

INTERPRETATION5.55% of the respondents had Insurance Policy.

6) If Yes Which companies ?

Public Sector65

Private Sector35

INTERPRETATION6.65% of the respondents had insurance policy of Public Sector.

7) From where you get the information about the insurance plan?

Print20

Electronic25

Outdoor 35

Any other 20

INTERPRETATION7.35% of the respondents get information from Outdoor Media.

8)According to you which the most attractive media for the insurance product/plan ?

Print35

Electronic15

Outdoor 25

Any other 25

INTERPRETATION8.35% of the respondents say that print media is most attractive media for insurance products.9) Do you find the advertisement of your insurance company outside your house/office?

Yes 65

No35

INTERPRETATION9.65% of the respondents find the advertisement of insurance product outside their house or office.10) If yes, where ?Flex35

Banner35

Wall Painting 20

Any other 10

INTERPRETATION10.35% of the respondents see the outdoor ad. through Flex & Banner.

11) Is the information on the outdoor media is enough to take decision about the insurance plan ?Yes65

No35

INTERPRETATION2.65% of the respondents say that outdoor ad. is enough to take the decision about insurance plan.CONCLUSION

Insurance companies are adopting all the elements of promotion to promote their producys.

Companies choose media in accordance with the different segments of customers.

Most of the customers are aware of the about the outdoor media.

Most of the customers are satisfied with the outdoor media for insurance product.

QUESTIONNAUIREDear Sir/Madam,

I DEEPAK KUMAR, Student, MBA IVth Semester of Harish Chandra P. G. College, Azamgarh Road, Varanasi Kindly fill the questionnaire. This is meant for the study of ROLE OF OUTDOOR ADVERTISING IN BRINGING AWARNESS ABOUT INSURANCE PRODUCT under the research report. It is assured. That the that information shared will be kept confidential and used for academic. Purpose only. Kindly give your responses to the best of your knowledge, experience and belief.

NAME :-

1) GENDER a) MALE

b) FEMALE

2) MARITAL STATUS a) MARRIED

b) UNMARRIED

3) EDUCATIONAL QUALIFICATION a) ANY PROFESSIONAL DEGREE (MBA/CA)

b) GRADUATE

c) POST GRADUATEd) UNDER GRADUATE/12th OR EQUIVALENT

4) OCCUPATIONAL BACKGROUND a) GOVT/STATE

b) PVT JOB

c) PROFESSIONAL (CA/MBA)

d) OTHER..

5) Do You have any insurance policy ?a) YesNo

6) If Yes Which companies ?a) Public Sector

b) Private Sector7) From where you get the information about the insurance plan?a) Print)

b) Electronicc) Outdoor d) Any other

8)According to you which the most attractive media for the insurance product/plan ?

a) Print)

b) Electronicc) Outdoor d) Any other

9) Do you find the advertisement of your insurance company outside your house/office?a) Yes

b) No10) If yes, where ?a) Flex

b) Bannerc) Wall Painting d) Any other

11) Is the information on the outdoor media is enough to take decision about the insurance plan ?a) Yes

b) No

12) If no what are the other Medias you go through ?..13) Are you satisfied with the promotional strategy of your insurance company ?a) Yes

b) No14) Any Suggestion ?

.

BIBLIOGRAPHY

www.wikipedia.org

www.textbooksonline.tn.nic

www.library.thinkquest.org

www.Nseindia.com

BOOKS: Marketing Research GC Beri

Marketing Management Michel Kelvin and Philip Kotler

Media Scheduling

Media Buying

Media Planning

Media Strategy

MEDIA PROCESS