A Project Report on Customer Behaviour

towards the Marketing Mix and Promotional

Strategies of
IDBI Federal Life Insurance Co. Ltd.
INTRODUCTION
 What is Insurance?
 Types of Insurance
 Challenges faced by Insurance Industry
ABOUT THE COMPANY
 Joint Venture of IDBI Bank, Federal Bank
and Ageas
 Started in March 2008
 MD & CEO – G.V. Nageswara Rao
INSURANCE MARKETING MIX
 Product
 Pricing
 Place
 Promotion
 People
 Process
 Physical evidence
PROMOTIONAL STRATEGIES
IN INSURANCE INDUSTRY
 Advertising
 Sales promotion
 Public relations and publicity
 Events and Experiences
 Direct and Interactive Marketing
 Word-of-mouth Marketing
 Personal Selling
PROMOTIONAL STRATEGIES
ADOPTED BY IDBI FEDERAL
 Print Media
 TV Advertisements
 Distributors
 Local events
CONSUMER RESPONSE
TOWARDS STRATEGIES
Have you heard about IDBI Federal Life Insurance Co. Ltd.?

CONSUMER RESPONSE
TOWARDS STRATEGIES
How did they come to know of the company?

CONSUMER RESPONSE
TOWARDS STRATEGIES
Awareness of the advertisements done by IDBI Federal:

CONSUMER RESPONSE
TOWARDS STRATEGIES
Best way to be aware of a financial product:

CONSUMER RESPONSE
TOWARDS STRATEGIES
Purchase of IDBI Federal Products:
CONSUMER RESPONSE
TOWARDS STRATEGIES
Familiarity with the website:
CONSUMER RESPONSE
TOWARDS STRATEGIES
Influence on the buying behaviour through these promotional
strategies:

CONSUMER RESPONSE
TOWARDS STRATEGIES
Who should endorse the brand?
CONSUMER RESPONSE
TOWARDS STRATEGIES
Connecting factor
CONSUMER RESPONSE
TOWARDS STRATEGIES
Awareness about other insurance companies:

LIMITATIONS OF THE STUDY

 Confined research
 Reluctant respondents
 Rapidly changing industry
 Environmental changes
RECOMMENDATIONS
 Build up customer loyalty
 Print Advertisements
 Hoardings
 Transparent working
 Customer awareness
 Connection with IDBI Bank