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Consumer Behavior for Third Party Products in banks

Introduction
                         In last few years Mutual Fund has emerged as a tool for ensuring one’s  financial well being. Mutual Funds have not only contributed to the India growth story  but have also helped families tap into the success of Indian Industry. As information and  awareness is rising more and more people are enjoying the benefits of investing in mutual  funds. The main reason the number of retail mutual fund investors remains small is that  nine in ten people with incomes in India do not know that mutual funds exist. But once  people are aware of mutual fund investment opportunities, the number of people who will  decide to invest in mutual funds will increases to as many as one in five people. The trick  for converting a person with no knowledge of mutual funds to a new Mutual Fund customer is to understand which of the potential investors are more likely to buy mutual funds and to use the right arguments in the sales process that customers will accept as important and relevant to their decision. Insurance may be described as a social device to reduce or eliminate the risk of loss of life and property. Under the plan of insurance a large number of people associate themselves by sharing risk attached to individuals. The risks, which can be insured against, include fire, perils of sea, death, accidents and burglary. Any risk contingent upon these may be insured against at a premium commensurate with the risk involved. This we can say “ collective bearing of risk is Insurance”. The insurance ensured protection of economic value of assets. Assets are insured against the risk of being destroyed or made the non-functional due to any accidental occurrence.

.Objectives of the Project:  To know the Acceptance of Third Party Product in Banking by Customers  To get the knowledge about the Expectations of the customers        from Banking sector towards Third Party Product  To get knowledge about the Management of Customer        relationship towards Third Party Product in different  Banks   To know the Satisfaction Level of the Customers from the Third Party Product To get the knowledge of the Perception Gap related to Third Party Product Significance of the study : The project is concerned with the “STUDY ON CONSUMER BEHAVIOR FOR THIRD  PARTY PRODUCTS”. a life insurance policy is a contract between the named insured  and the insurance company wherein the insurance company agrees to pay an agreed upon  sum of money to the insured's named beneficiary. This study is very useful as the financial market become more  sophisticated and complex. Essentially. investor needs a financial intermediary who provides the  required knowledge and professional expertise on successful investing and Life insurance  is a form of insurance that pays monetary proceeds upon the death of the insured covered  in the policy.