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A Project Report on Customer Behaviourtowards the Marketing Mix and Promotional

Strategies of

IDBI Federal Life Insurance Co. Ltd.

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INTRODUCTION

What is Insurance?

Types of Insurance Challenges faced by Insurance Industry

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ABOUT THE COMPANY

Joint Venture of IDBI Bank, Federal Bankand Ageas

Started in March 2008

MD & CEO G.V. Nageswara Rao

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INSURANCE MARKETING MIX

Product

Pricing

Place

Promotion

People

Process

Physical evidence

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PROMOTIONAL STRATEGIESIN INSURANCE INDUSTRY

Advertising

Sales promotion

Public relations and publicity

Events and Experiences

Direct and Interactive Marketing

Word-of-mouth Marketing

Personal Selling

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PROMOTIONAL STRATEGIESADOPTED BY IDBI FEDERAL

Print Media

TV Advertisements

Distributors

Local events

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CONSUMER RESPONSETOWARDS STRATEGIES

Have you heard about IDBI Federal Life Insurance Co. Ltd.?

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CONSUMER RESPONSETOWARDS STRATEGIES

How did they come to know of the company?

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CONSUMER RESPONSETOWARDS STRATEGIES

Awareness of the advertisements done by IDBI Federal:

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CONSUMER RESPONSETOWARDS STRATEGIES

Best way to be aware of a financial product:

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CONSUMER RESPONSETOWARDS STRATEGIES

Purchase of IDBI Federal Products:

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CONSUMER RESPONSETOWARDS STRATEGIES

Familiarity with the website:

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CONSUMER RESPONSETOWARDS STRATEGIES

Influence on the buying behaviour through these promotionalstrategies:

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CONSUMER RESPONSETOWARDS STRATEGIES

Who should endorse the brand?

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CONSUMER RESPONSETOWARDS STRATEGIES

Connecting factor

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CONSUMER RESPONSETOWARDS STRATEGIES

Awareness about other insurance companies:

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LIMITATIONS OF THE STUDY

Confined research

Reluctant respondents

Rapidly changing industry

Environmental changes

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RECOMMENDATIONS

Build up customer loyalty

Print Advertisements

Hoardings

Transparent working

Customer awareness

Connection with IDBI Bank