MARKETING RESEARCHPRESENTATION 2

INSURANCE POLICY

BY –

VARUN NIGAM ROLL NO 1375

SNEHA KUMARI ROLL NO 1366

SURAJ CHUTE ROLL NO 1370

RISHABH MAHESHWARI ROLL NO 1351

BULU CHOWDARY ROLL NO 1380

RAVI .L. KUNCHIKORVE ROLL NO 1349

INSURANCE POLICY

TOPIC :“ TO DETERMINE CUSTOMER AWARENESS AND PREFERENCE OF PEOPLE TOWARDS VARIOUS INSURANCE POLICIES”.

PROCESS OF RESEARCH

HYPOTHESIS

OBJECTIVES QUESTIONAIRE

REPORT COMMUNICATION

CONCLUSION

OBJECTIVES

• TO UNDERSTAND CUSTOMER PURPOSE FOR INSURANCE POLICY.

• WHAT WAS THE REASON PEOPLE PREFER TO BUY LIC?

• WHAT ARE THE TYPES OF POLICY THEY BUY?

• WHICH ARE THE INSURANCE COMPANIES IN THE MARKET?

OBJECTIVES

• HOW MUCH MONEY THEY SAVE?

• HOW MUCH AMOUNT THEY INVEST?

• WHAT INSTALLMENT, TAX, INTEREST RATE?

• WHAT ARE THE SOURCES OF AWARENESS?

HYPOTHESIS

• PEOPLE BUY INSURANCE POLICY AS AN INVESTMENT

• PEOPLE IN GENERAL PREFER ONLY GOVERNMENT INSURANCE POLICY

• PEOPLE BUY INSURANCE POLICY BASED ON BRAND NAME

QUESTIONAIRE

• WHICH TYPE OF INSURANCE POLICY YOU PREFER?

• WHICH POLICY YOU PREFER THE MOST GOVERNMENT OR PRIVATE?

• WHICH COMPANY POLICY YOU HAVE?

• WHICH INSURANCE CATEGORY DO YOU FIND MEANINGFUL TO INVEST IN?

• HOW MUCH PREMIUM DO YOU PAY FOR YOUR INSURANCE POLICY AND FOR HOW MANY YEARS?

• AFTER RETURNS FROM INSURANCE POLICY WHICH OTHER INVESTMENT OPTION DO YOU CONSIDER?

• HOW DID YOU COME TO KNOW ABOUT THE POLICY?

SAMPLING DESIGN

• CUSTOMER SEGMENT

1. WORKING PEOPLE

2. STUDENTS

3. BUSINESSMEN

• SAMPLE SIZE – 116

• LOCATION- KARJAT AND THANE

• DATA COLLECTION MODE - PRIMARY DATA

COMMUNICATION

• DOOR TO DOOR

• TIMING

• LOCAL LANGUAGE

• SIMPLE WORDS

LEARNING

• PROTECTING PRIVACY

• LACK OF AWARENESS

• GOVERNMENT POTENTIAL

• AGENT TRUSTWORTHINESS

CONCLUSION

INVESTMENT

50.9%

SECURITY

23.3%

DO NOT BUY

12.1%

TAX SAVING

10.3%

PURPOSE OF BUYING

CONCLUSION

TOP 3 INSURANCE COMPANIES

LIC – 63.8%

BAJAJ ALLIANZ – 4.3%

BIRLA SUN LIFE – 3.4%, OTHERS – 3.4%

WOULD NOT BUY – 15.5%

CONCLUSION

IMPORTANCE OF BRAND NAME

BRAND CUSTOMER SERVICE59.5% 44.8%

MATURITY VALUE

41.4%

CONCLUSION

PREFERRED COMPANY

GOVERNMENT COMPANY – 86.2% PRIVATE COMPANIES – 11.3%

CONCLUSION

BRAND * SERVICE Crosstabulation

WEIGHTAGESERVICE

Total1.00 2.00 3.00 4.00 5.00

BRAND

1.00 4 0 0 1 1 62.00 1 1 2 1 0 53.00 0 1 7 4 2 144.00 0 0 2 13 7 225.00 1 2 8 16 42 69

Total 6 4 19 35 52 116

PEOPLE BELIEVE THAT GOODINSURANCE SHOULD GIVE AGOOD CUSTOMERSERVICE

CONCLUSION

INSURANCE * PREFERED COMPANY Crosstabulation

PREFERED COMPANY

TotalBAJAJ BIRLA ICICI LIC NA OTHERS

INSURANCENO 0 0 1 14 3 0 18

YES 1 1 2 86 0 8 98Total 1 1 3 100 3 8 116

MOST PEOPLE WHO BUY AND WHO DO NOT BUY INSURANCE PREFER LIC

THANK YOU