THE BEGINNING

The Bajaj Group is amongst the top 10 business houses in India. Its footprint stretches over a
wide range of industries, spanning automobiles (two wheelers manufacturer and three wheelers
manufacturer), home appliances, lighting, iron and steel, insurance, travel and finance. The
group's flagship company, Bajaj Auto, is ranked as the world's fourth largest three and two
wheeler manufacturer and the Bajaj brand is well-known across several countries in Latin
America, Africa, Middle East, South and South East Asia. Founded in 1926, at the height of
India's movement for independence from the British, the group has an illustrious history. The
integrity, dedication, resourcefulness and determination to succeed which are characteristic of
the group today, are often traced back to its birth during those days of relentless devotion to a
common cause. Jamnalal Bajaj, founder of the group, was a close confidant and disciple of
Mahatma Gandhi. In fact, Gandhiji had adopted him as his son.

This close relationship and his deep involvement in the independence movement did not leave
Jamnalal Bajaj with much time to spend on his newly launched business venture. We are
celebrating 125th Birth anniversary of Shri. Jamnalal Bajaj on 4th of November 2014.

His son, Kamalnayan Bajaj, then 27, took over the reigns of business in 1942. He too was close
to Gandhiji and it was only after Independence in 1947, that he was able to give his full attention
to the business. Kamalnayan Bajaj not only consolidated the group, but also diversified into
various manufacturing activities. The present Chairman of the group, Rahul Bajaj, took charge of
the business in 1965. Under his leadership, the turnover of the Bajaj Auto the flagship company
has gone up from INR.72 million to INR. 120 billion, its product portfolio has expanded and the
brand has found a global market. He is one of India’s most distinguished business leaders, bike
manufacturer india and internationally respected for his business acumen and entrepreneurial
spirit.
Bajaj Auto Limited is an Indian automobile manufacturing company. It manufactures two and
three-wheeler machines. It manufactures and sells motorcycles, scooters and auto rickshaws.
Bajaj Auto Limited is a part of Bajaj Group of industries. The Bajaj Auto was founded by
Jamnalal Bajaj in Rajasthan in the year 1940s. It has its plants in Mumbai, Pune, Chakan, Waluj,
Pantnagar in Uttarakhand. Its oldest plant was in Akurdi(Pune) which is know transformed into
the R&D center.

Bajaj Auto is the world’s 6th largest motorcycles manufacturing company and the 2nd largest in
India. It is the world largest three-wheeler manufacturer. It gave a start to the manufacturing of
scooters from getting license from Vespa. The most popular scooter by Bajaj was the Chetak
scooter. This scooter had a waiting period of about a year, and its production lasted for about 34
years. By around 1990’s Bajaj Auto started focusing more on motorcycles since the market trend
was shifting. It also came as a surprise to all when it announced that the company will withdraw
from scooter manufacturing since the scooter had created the goodwill for Bajaj Auto Limited.
Saffire was the last scooter produced by Bajaj. It then mainly focused on motorcycles and Bajaj
Boxer and Bajaj discover were its commuter brand in the country and the sales of this
motorcycles rised very fast. Then it came with Bajaj Avenger which still remains the most
Affordable cruiser in India. But it was mainly because of Bajaj Pulsar the name of Bajaj came
into existence and cemented its position in the motorcycle segment in India. It was positioned as
the performance bike-maker in Indian market. The main feature of the bikes where because of its
value for money without compromising on its features, power, technology. The pulsar range of
Bajaj motorcycles has grown a lot and at a steady pace with many iterations and a 400cc Pulsar
version in a power cruiser form is launched in the market in August,2016 in the form of Bajaj
Pulsar CS400.

Bajaj currently sells its products through 2 formats, 1. Bajaj showrooms which sells all Bajaj
bikes.2. Pro-biking showrooms which sells bikes of KTM and Kawasaki.
On May 2015, its market capitalization was ₹640 Billion (US $9.9 Billion), making it the India’s
23rd largest publicly traded company by market value. The Forbes Global 2000 list for the year
2012 ranked Bajaj Auto at 1,416 Rank.

At Bajaj Allianz, we regard insurance as more than just a subject matter of solicitation. We see is
a commitment to building engaged relationships through solution that help our customers live
confidently. We‟d want to represent genuine Customer Care rather than mere Customer Service!
Whether you‟re an optimist „a pessimist or a realist, there is no denying that life favours the
prepared. With tailored solution that offer continuity and assurance, Bajaj Allianz helps you be,
do and have anything you aspire to, without undue stress or worry! We aim to provide simple
and effective products that give you better value for money and provide flexible coverage suited
to your needs. Our mission is to enrich your life by letting you explore and experience its fullest
potential. While the potential for risk and loss always exists, our products help you quickly
regain balance and continuity in unfortunate situation. Everything that we do revolves around
you, our customer. At Bajaj Allianz, we measure success not just in terms of the value we give
you but also how you feel as a result of interacting with us. We‟re committed to providing
service that is distinctly and „caringly yours‟ Headquartered in Pune, Bajaj Allianz General
Insurance Company Limited, a joint venture between Bajaj Fiserv Limited (recently demerged
from Bajaj Auto Limited) and Allianz SE, has empowered millions of individuals, business and
communities to manage risks and grow in a sustainable manner. Our founding companies enjoy a
reputation of expertise, stability and strength which has been a par.
 ABOUT THE FOUNDERS

Jamnalal Bajaj (1889–1942)

Founded by the freedom fighter, philanthropist and close confidante of Mahatma Gandhi
Jamanalal Bajaj, the Bajaj Group is one of the most respected and renowned business houses of
India. Started around eighty years back with a sugar factory in Lakhimpur Kheri of Uttar
Pradesh, the group has since diversified into a wide variety of business areas. The group's first
sugar plant was one among only 30 sugar mills that pioneered the establishment of the sugar
industry in India. Today, Bajaj Hindusthan Sugar Ltd is Asia's Number One Sugar company and
among the top four globally. In addition, the Group includes Bajaj Corp Ltd, a recently setup,
Bajaj Energy Limited, Lalitpur Power Generation Company Ltd. and Bajaj Infrastructure
Development Co. Ltd.

The Bajaj Group is a leading presence with diversified interest in the sugar and growing
Infrastructure sector including Power, Coal mining and Real Estate; FMCG, and Ethanol. Bajaj
Hindusthan Sugar Limited, the Group’s flagship company, was set up in November 1931.

Kamalnayan Bajaj (1915–1972)

Kamalnayan Bajaj the eldest son of Jamanalal Bajaj, after completing his education from
University of Cambridge, England, returned to India to assist his father both in business and in
social service. Kamalnayan Bajaj also a man of strict principles, earmarked a large portion of the
income from his family business for public causes and social service programs. He always had a
sense of a larger social mission, transcending the dictates of business and the bottom line.

Every new business venture that Kamalnayan got into, testified to his business acumen. With
foresight and a spirit of zestful enterprise, Kamalnayan acquired ailing industrial units and then
turned them around. He went on to expand the business by branching into manufacture of
scooter, three-wheeler, cement, alloy casting and electricals. In 1954, Kamalnayan took over
active management of the Bajaj Group companies.

Ramkrishna Bajaj (1924–1994)

Ramkrishna Bajaj, the younger son of Jamanalal, took over after the death of his elder brother
Kamalnayan Bajaj in 1972. In addition to shouldering business responsibilities, Ramkrishna’s
energies were largely directed towards the social service and social welfare programs of the
Bajaj Group. He was of the firm conviction that he could make an impactful and meaningful
contribution to the community through social work.

Ramkrishna had a flair and panache for working with youth. He was elected as the Chairman of
World Assembly for Youth (India) in 1961. He also held the office of the Managing Trustee of
the Indian Youth Centres Trust, which conceived and created the Vishwa Yuvak Kendra in 1968,
a youth development organization.

Rahul Bajaj(1938 - Present)

Rahul Bajaj, the chairman and managing director of the Bajaj group is the grandson of Jamnalal
Bajaj. He completed his schooling from Cathedral, a school in Bombay. Then he further pursued
his studies from St Stephen's College, Delhi, Government Law College, Mumbai and Harvard
University, USA. He took over control of the Bajaj Group in 1965 and successfully established
one of India's largest conglomerates.

THE GROWTH

Exit from scooters 

Let us take bit of a flashback into the 70's and imagine a world in B&W. Bajaj introduced its first
indigenous scooter brand - Chetak. Its practicality and reasonable price made it a blockbuster
product for the company. Bajaj's name became synonymous with scooters, just like Colgate
stood for toothpaste. In the 80's the company spawned few more brands like Priya, Super etc. and
the brand slogan 'Humara Bajaj' was ubiquitous. In the absence of a formidable competition, the
company had a near monopoly in two-wheelers.

HeroHonda's-entry-in-1984

HH started offering motorcycles to the Indian customers. Share of motorcycles among two
wheelers increased gradually. Bajaj kept its fingers crossed on the scooter segment. 

Entry of Honda Motorcycles and Scooters India in 2001

HMSI launched Activa gearless scooter which quickly became a success because of its easy
handling, electric start, refined engine and distinct looks. Customers started migrating towards
Honda and Bajaj's geared scooters began to appear ancient. Undisputed leadership often leads to
indifference and ignorance (remember Kodak?). Bajaj went into a dormant state and failed to
wake up to changing market dynamics until it was too late. It tied up with Kawasaki to enter into
motorcycles in 1986 but found itself lagging behind. The iconic Chetak ran on ventilator support
and was killed in 2005.

In a last minute attempt to salvage volumes, Bajaj came up with its gearless scooter 'Kristal' in
2006 which failed miserably. Once a dominating force, their market share fell significantly by
2009.  MD Rajiv Bajaj decided to vacate the scooter segment citing focus on motorcycles. This
is where we feel the company left the mine just before striking gold. Increased acceptance of
modern gearless scooters among all age groups led to a phenomenal growth of this segment.
Share of scooters has increased from 14 per cent in FY08 to about 25 per cent in FY14 and the
absence of Bajaj served the growth pie in a platter to Honda, that too for free!

The idea to completely back off from scooters was not the ideal one because Bajaj had an
extremely strong image of a scooter manufacturer with a high brand recall. 'Humara Bajaj' jingle
still resonated with people. That image had to be shed and converted to Bajaj as a motorcycle
maker, which was extremely tough even after spending truckloads of money on promotion. A
new manufacturing plant along with R&D and product development facilities had to be
established, which meant spending of more money.

Bajaj's dealers which were used to sell scooters now had to be re-trained to sell motorcycles.
Also, the distribution network had to be modified. Add few more truckloads of money. Cost of
lost opportunity. Probably worth more truckloads of money than the above three combined. If
Bajaj stayed and captured even 15 per cent of the market, it would have earned more volumes
than it currently gets from Platina.

Absence from scooter segment will continue to hurt Bajaj as scooters are likely to grow faster
than motorcycles in the years to come.

Entry-into-Motorcycles

Bajaj's motorcycle journey began in 1986 with economy bike KB100 in collaboration with
Kawasaki of Japan. The bike stayed in production for 10 years and spawned several variants. It
was replaced with Boxer in 1997 which was further succeeded by CT100 in 2004.

Executive commuter bike Caliber was launched in 1998 and managed 1 lakh units within 12
months. It got succeeded by Wind 125 standard street bike in in 2003. This bike was rebadged
within a year as Discover for the 125cc segment and the 100cc version was launched as Platina
in 2006.

Bajaj entered the Premium bike segment with Pulsar and Eliminator in 2001. The Pulsar brand
turned out to be a huge success for the company. Tens of design changes and hundreds of
variants later it still continues. Eliminator was eliminated in 2005 and replaced with Avenger in
2005.

Bajaj also has a partnership with Austrian manufacturer KTM in which it also holds a 48 per cent
stake. The KTM models available in India are Duke 200, Duke 390, RC200 and RC390. Next we
break down Bajaj's performance in each segment and check if there is a devil in the details.
Motorcycles-(75-110cc) 

This is the segment which brings the highest volumes to the motorcycle market. Even a few
percentage points of market share would translate into numbers in 5 digits. Keeping that in mind,
Bajaj lost 1.87 per cent of its market share in 2014, even though the segment witnessed a decent
growth of 4.44 per cent.

The company's range of Discover 100/100 M and Platina 100/ 100 ES finds itself hammered by
market leader Hero Motocorp's onslaught through Splendor/ Passion/ HF Deluxe/ HF Dawn
range of motorcycles, which sell almost 4 times in volumes. Clearly Bajaj falls short of offerings
here and needs to introduce fresh products if it wants to capture a larger pie of this segment.

The exports however show a complete role reversal. Bajaj effectively dominates the market more
or less holding on to its share of almost 74 per cent over the past three years. The Boxer and CT
100 brands of motorcycles, which are exclusively made for exports have been well received in
the foreign markets. In fact, Boxer is the leading brand in Africa among all competitors. The
company's exports grew 3.26 per cent in FY14 while the total exports in the segment grew by
4.43 per cent.

Motorcycles-(110-125cc)

The fall in Bajaj's market share in this segment can be compared to the fall in crude oil prices
over the past one year, both have nearly halved. Bajaj lost 12.35 per cent of its market share in
2014, while the segment grew a miniscule 0.39 per cent over the previous year. Whatever share
of pie was lost by Bajaj seems to have been equally distributed between Hero and Honda. This
drastic performance of the company in a segment where it held one-third of the market needs to
be probed deeper. The Discover brand has been losing its significance despite having given
several product updates. What Bajaj has done is that they have extended the brand in both the
upper 150cc segment and the lower 100c segment along with tens of variants. Two things could
have happened here: Brand Dilution - presence in three different segments confused customers
what Discover actually stands for, so they migrate to the competitors.

Cannibalization - A price sensitive buyer goes for the lower segment for more value for money
and a performance seeking buyer opts for the upper segment rendering the middle segment of no
consequence. The picture was not that bad in the exports where Bajaj lost 2.63 per cent market
share over FY13 though there was an increase in the absolute numbers by 12.11 per cent over the
previous year. The company holds 56.49 per cent of the exports in this segment. TVS and
Suzuki, though exporting much lower numbers are steadily increasing their share.

Motorcycles (125-150cc)

This segment is yet another headache for Bajaj and for the industry as a whole. The segment
volumes have shrunk by 20.67 per cent over the past two years while that for Bajaj have declined
even faster at 36.76 per cent. As a result, Bajaj's market share has dwindled by a significant
10.42 per cent to land at 40.94 per cent.

A sigh of relief for Bajaj is that they still hold the leadership position in this segment and are
fairly ahead of their closest competitor Honda which holds 26.67 per cent share. However, if this
downward trend continues for another year their leadership position may be well within arm's
reach of Honda.

The Pulsar 150 has been Bajaj's star product since its inception and its 'performance' bike image
has clicked with the Indian customers. However, the company has given it the same treatment as
the Discover. Pulsar now comes in 5 different engine options - 135/150/180/200/220 cc.

Bajaj has historically followed the strategy of putting more focus on the higher engine size
segments. The company has also launched the Discover 150cc in 2014 to reinforce their market
presence. Though these segments contribute a lower volume as compared to executive bikes,
they are expected to grow significantly in the long term as the customers move upmarket. If that
happens, Bajaj might have a competitive edge by having a stronger brand and a wider product
portfolio.
The situation on the export side looks much worse than the domestic. The segment returnedto
almost the same volumes in 2014 as it had in 2012 but sadly Bajaj's did not. Their volumes got
eroded by 22.32 per cent. As a result, the share of exports dwindled from 65.51 per cent in FY12
to 51.05 per cent at the end of FY14. The volume eater for the company here is Yamaha Motors
whose share increased from 20.79 per cent to 33.98 per cent over the two years. Here too, Bajaj's
leadership position is under grave danger and the panic button should have been pressed by
now. 

Motorcycles (150-200cc)

This segment has only two players fighting with each other. Bajaj offers the Pulsar 180 and
200NS along with KTM Duke 200 and RC 200 while TVS's Apache RTR is their lone fighter.
Contrary to expection, this lone fighter completely demolishes the comparatively fresh
opposition single handedly. In FY14, TVS snatched away 10.20 per cent market share from
Bajaj despite the product onslaught by the latter. This being a more premium segment with major
customers being the urban youth, the importance of brand is significant. Keeping that in mind,
having a strong domestic brand like Pulsar and a global brand like KTM has not helped Bajaj
salvage its volumes.

On the other hand, exports in this segment have seen stellar growth for the company. Over the
past two years Bajaj's volumes have grown by 171%, much faster than the overall export growth
of 72 per cent. Much of this success is credited to new model launches namely Pulsar 200NS and
KTM RC200.

Motorcycles (200-250cc)

This segment is a three sided battle among Pulsar & Avenger 220 from Bajaj, Karizma from
Hero and CBR 250R from Honda, all of which are strong and popular brands. However, it's
Bajaj which scores a convincing win over the others. Despite the segment volumes declining by
6.34 per cent since FY12, Bajaj has increased its market share from 57.29 to 67.87 percent. In
absolute terms, out of 137454 units sold in 2014, 93290 units belonged to Bajaj. Once a marginal
entity, the Avenger has now caught the fancy of urban Indians who want to ride cruisers. In
FY14, the company sold about 41,000 Avengers and its demand has been increasing within a
niche section of customers. Bajaj commands a major share of the exports in this segment and
represented 78.63 per cent of the volumes in FY14. However, being an upper segment the
volumes are comparatively low. On top of that, export volumes of the segment have declined by
56.12 per cent and that of Bajaj have gone down by 64.09 per cent in the span of two years.

Motorcycles (350-500cc)

Bajaj is a recent entrant in this segment with the KTM RC390 launch in 2014. The good news
here is that in the first year itself the bike has managed to capture 15.85% of the market and it is
expected to increase more by this year end. With its trademark orange frame and alloy wheels,
the KTM's have become quite a rage among the youth in urban India. The rest of the segment
belongs to the Royal Enfield heavyweights. RC390 provides a sports bike body style in this
segment which otherwise has only street and cruiser bikes, hence offering a new proposition to
attract buyers. Bajaj has exported more KTM's than it has sold in the domestic market and it has
led to more than four-fold increase in the export volumes of this segment. 

Commercial vehicles - three wheelers

Bajaj is the world's largest producer and India's largest exporter of three wheelers. The
company's brand RE (which stand for Rear Engine) range has three wheelers running on diesel,
alternative and hybrid power. In FY14, Bajaj held 39 per cent share in the domestic market but
sales numbers declined. The drop can be attributed to sluggish economy and lower issue of
permits by transport authorities. The competition from Piaggio and Mahindra is also increasing
in this space. Numbers did grow in exports but slower than the overall market.
 THE BUSINESS GROUP AND THE INDUSTRY

Bajaj Group companies:

Bajaj Auto Ltd. – Manufacturers of Scooters, Motorcycles and Three-wheeler vehicles and spare
parts.

Bajaj Finance Ltd. – Deals in financial services including hire purchase, financing & leasing.

Bajaj Finserv Ltd – Financial Services.

Bajaj Holdings & Investment Ltd. – Investment Company focusing on new business
opportunities.

Mukand Ltd. – Manufacturers of stainless, alloy and special steels including carbon and alloy
steels.

Bajaj Electricals Ltd. - Manufacturers of electric fans, high masts, lattice closed towers and
poles.

Bajaj Ventures Ltd. – involved in manufacturing and trading of power tools and manufacturing
of housewares and parts.

Maharashtra Scooters Ltd. k- Manufacturers of Scooters.

Bajaj Allianz General Insurance Company Ltd. – General insurance business.

Bajaj Allianz Life Insurance Co Ltd. – Life insurance business.

Bajaj Financial Solutions Ltd. – Distribution of financial products and services.

Bajaj Allianz Financial Distributors]] Ltd. – Distribution of financial products.

Bajaj Auto Holdings Ltd. – Investment Company.

PT Bajaj Auto Indonesia (PTBAI) - Bajaj Auto venture in Indonesia.

Bajaj Auto International Holdings BV – Bajaj Auto venture in Netherlands.

Hind Lamps Ltd. – Manufactures GLS, fluorescent, miniature lamps and major components,
such as glass shells, miniature and aluminum caps, lead glass.

Mukand Engineers Ltd. – Construction, fabrication and erection of industrial and infrastructural
projects and infotech business.

Mukand International Ltd. – Trading in metals, steel and ferro alloys.

Bajaj Sevashram Pvt. Ltd. – Investment activities.

Jamnalal Sons Pvt. Ltd. – Investment and finance company.

Rahul Securities Pvt. Ltd.

Shekhar Holdings Pvt. Ltd.

Madhur Securities Pvt. Ltd.

Niraj Holdings Pvt. Ltd.

Rupa Equities Pvt. Ltd.

Kamalnayan Investments & Trading Pvt. Ltd.

Sanraj Nayan Investments Pvt. Ltd.

Hercules Hoists Ltd. – Manufactures ‘INDEF’ brand materials handling equipment such as triple
spur gear chain pulley blocks, chain electric hoists and wire rope.

Hind Musafir Agency Ltd. – Travel agency.

Bajaj International Pvt. Ltd. – Export electric fans, GLS lamps, fluorescent tubes, light fittings,
etc.

Bachhraj Factories Pvt. Ltd. – Ginning and pressing of cotton bales.

Baroda Industries Pvt. Ltd. – Investment Company.

Jeewan Ltd. – Investment company

Bachhraj & Co. Pvt. Ltd. – Investment Company.

The Hindusthan Housing Co. Ltd. – Services Company.

Hospet Steels Ltd. – Steel plant consisting of Iron Making Division, Steel Making Division and
Rolling Mill Division.

INDUSTRY PROFILE

In 1993, Malhotra Committee, headed by former Finance Secretary and RBI Governor R.N.
Malhotra, was formed to evaluate the Indian insurance industry and recommended its figure
direction. The Malhotra committee was set up with the objective of complementing L8the
reforms initiated in the financial sector. The reforms were aimed at “creating a more efficient and
competitive financial system suitable for the requirements of the economy keeping in mind the
structural changes currently underway and recognizing that insurance in an important part of the
overall financial system where it was necessary to address the need for similar reforms. The low
penetration can be explained in terms of non-emphasis on customer awareness, training issues of
agents and a low tax base. The heavy capital investments in terms of the distribution networks,
hiring of agents and the long gestation periods of 7-10 years provide entry barriers for the
industry. The key industry drivers are related to lifestyle issues in terms of perceiving insurance
as a savings instrument rather than for risk cover, need based selling, quality of service and
customer awareness. The future growth areas could be in term assurance, pension and health
insurance. In terms of the distribution channels, there is tremendous opportunity with banks and
finance companies and by making the channel IT driven. With increased commoditization of
insurance products, brand building is going to play a vital role. The provisions of the IRDA bill
acknowledge a many issue related to insurance premia that will present it from seeping out of the
country. The IRDA bill provides for three levels of players – Insurance Company, Insurance
brokers and Insurance agent. In the life Insurance segment, the Life Insurance Corporation of
India (LIC) is the major player. The LIC has 2050 branches. It is constituted in to seven Zones.
Currently, there are 5,60,00 LIC agents in India. General Insurance in another segment, which
has been growing at a faster pace. But as peer the current comparative statistics, the general
insurance premium has been lower than life insurance. General Insurance premium as a
percentage GDP was a mere 0.5 per cent in 1996. In the General Insurance Business, General
Insurance Corporation (GIC) and its four subsidiaries viz, New India Insurance, Oriental
Insurance, National Insurance and United India Insurance, are doing major growing at a rate of
19 percent per year Insurance is a colossal sector in India that is growing at a speedy rate of 15-
20%. The insurance sector is approximately 450 billion yet 80 percent of the population in India
is not insured. This gives you a peek into the huge growth opportunity that exists for this
segment. The insurance business in India mainly consists of two main players, the Life Insurance
Corporation (LIC) and General Insurance Corporation (GIC). Almost 100 divisional offices and
2000 branch offices are functional for LIC. As LIC caters to life insurance, health insurance,
property and accident insurance it needs an increasing number of employees. The other player
GIC undertakes motor, marine, personal accident and fire insurance. Moreover, it has four
subsidiaries a) Oriental Insurance, b) United India Insurance, c) New India Assurance, and d)
National Insurance. Insurance companies in India have a deep-rooted history. It all began in 1818
when Oriental Life Insurance Company in Calcutta was established. From then on insurance was
scattered across the country. It was an unorganized sector. Then in 1950, the entire insurance
segment was nationalized. After achieving freedom, the insurance sector gained momentum. In
1956 the government of India consolidated 240 private life insurers and provident societies and
this was how LIC came to life. The justification to the nationalization of the life insurers was that
the government would reap the necessary funds that were required for industrialization. The
general insurance industry still remained in the hands of the private sector till 1972 and was then
nationalized. LIC adds about 7 percent to the country‟s GDP. With IRDA‟s regulation not less
than 15 percent of funds from the insurance companies are said to fill the coffers of infrastructure
and social sectors. Thus, proving vital funds to the country‟s growth. Infrastructure of the
country bears risks that are of a long-term characterThey include political instability, geological
hindrances, gestation period and illiteracy. The longterm funds provided by Life Insurance of
India not only cover these risks but also help securing a brighter future for the country. Besides
infrastructure the insurance companies in India are vital for one‟s saving purpose. In the
beginning insurance was looked at as a „tax-benefit‟ investment. Slowly, however the mindset of
the common man is changing. Life insurance is now looked on as investment vehicle. With the
introduction of private players in the sector there has been more transparency and flexibility in
the sector. Private players have procured almost 9 percent of the insurance segment even though
the coveted policies like endowment and money back still lay with the government. Better
services, individual attention and pure transparency have given the private sector an upper hand.
But with a huge unorganized market in India yet to tap the insurance companies in India have a
voluminous market to explore.

MAJOR POLICY CHANGES

Reforms in Insurance Sector has been opened up for competition from Indian private insurance
companies with the enactment of Insurance Regulatory and Development Authority Act, 1999
(IRDA Act). As per the provisions of IRDA Act, 1999, Insurance Regulatory and Development
Authority (IRDA) was established on 19th April 2000 to protect the interests of holder of
insurance policy and to regulate, promote and ensure orderly growth of the insurance industry.
IRDA Act 1999 paved the way for the entry of private players into the insurance market which
was hitherto the exclusive privilege of public sector insurance companies/ corporations. Under
the new dispensation Indian insurance companies in private sector were permitted to operate in
India with the following conditions:

 Company is formed and registered under the Companies Act, 1956;

 The aggregate holdings of equity shares by a foreign company, either by itself or through
its subsidiary companies or its nominees, do not exceed 26%, paid up equity capital of
such Indian insurance company;
 The company's sole purpose is to carry on life insurance business or general insurance
business or reinsurance business.
 The minimum paid up equity capital for life or general insurance business is Rs.100
crores.

 The minimum paid up equity capital for carrying on reinsurance business has been
prescribed as Rs.200 crores.

The Authority has notified 27 Regulations on various issues which include Registration of
Insurers, Regulation on insurance agents, Solvency Margin, Re insurance, Obligation of Insurers
 to Rural and Social sector, Investment and Accounting Procedure, Protection of policy holders'
interest etc. Applications were invited by the Authority with effect from 15th August, 2000 for
issue of the Certificate of Registration to both life and non-life insurers. The Authority has its
Head Quarter at Hyderabad.

MARKETING STRATEGIES OF BAJAJ AUTO

From the last decade the Bajaj has changed its image, earlier it was known for producing scooter
now Bajaj is focusing on manufacturing a two wheeler bike. Its number has increased in last
decade after targeting the motorcycle segment. In 1959 Bajaj obtain license from the Govt. of
India to manufacture 2 –wheeler and 3- wheeler and in 1960 in went public. In the year 1977
Bajaj managed to produce and sell 100000 vehicles globally during that financial year. In the
year 1986 Bajaj managed to produce and sell 500000 vehicles globally.

Marketing Mix which majorly comprises 4P’s namely-  Product, Price, Place & Promotion; is the
set of controllable, tactical marketing tools used by a company to produce the desired response
from its target market. It consists of everything that a company can do to influence demand for
its product.
Bajaj Auto being the largest manufacturer of two-wheelers from India produces a variety of two-
wheelers and three-wheelers for India and international markets. Out of the total sales made by
Bajaj Auto, 35% of its sales are accounted towards exports. 47%of the total exports are made to
Africa, with Boxer being the largest selling model in Africa. 
Bajaj group of companies deals in various industries like automobiles, finance, electricals, home
appliances, iron and steel, insurance, etc.
The effective formulation and implementation of the Marketing Mix of a  company are
extremely important for the growth and success of the company.
The Marketing Mix Strategies used by the Bajaj Group of companies while carrying out their
respective businesses are:

Product Strategy
 Conducting R&D at regular intervals
 All its products are designed with the help of science and the use of the latest technology
 Deals in various products like motorcycles, pressure cookers, microwave, pop up toasters,
 Electric kettles, real estate, sugar industry, construction equipment, face wash, skincare, etc

Price Strategy
 Competitive Pricing Strategy for the consumer goods and home appliances to counter the effect
of its rival companies
 Premium Pricing Strategy for a motorcycle-like Pulsar
 Penetration Pricing Policy while entering a new market
 Provide gifts and discounts along with special coupons

Place Strategy
 Strong distribution network
 Highly experienced management team
 Very organized and efficient distribution policy
 A strong network of far-reaching dealers
 Warehouses and a strong network of showrooms owned by dealers & owners
 Online purchase facility
 The distribution channel includes depots and C&F agents

Promotion Strategy
 Making use of creative ads, improving the visibility of the Bajaj Group and its products
 Emphasizing the happy Indian families in the majority of its ad campaigns.
 Introduction of  dynamic, trendy, stylish, and vibrant ads, majorly targeting the youth

In addition to the marketing mix, every company needs to assess the competitors’ strategies
regularly to have a competitive advantage over the competitor. Let us learn about the competitive
analysis adopted by the Bajaj Group of Companies.
 The Marketing Strategy of a good company emphasizes long term and forward-looking approach
and includes the overall game plan of any organization with the ultimate goal of achieving a
sustainable competitive advantage by understanding and analyzing the needs and wants of our
dear customers. Bajaj Group of companies uses various Marketing Strategies intending to
increase the market share of the company and gain a competitive advantage over its competitors.
Below are some of the Marketing Strategies adopted, 
 Hoardings about their new launch
 Google My Business promotions
 Contests and giveaways
 Email marketing
 Blog posts
 Events (virtual and in-person)
 Upgrades
 Trade-ins
 Customer reviews
 Social media posts

One of the major factors for the success of the Bajaj Group is the effective planning and
implementation of the marketing strategy; since ‘A product marketed well, sells well ‘.
Marketing Strategies and Marketing Campaigns complement each other. Marketing Campaigns
help a company in having a strong connection with their consumers. Let’s have a look at the
marketing campaigns undertaken by the Bajaj Group of Companies to market their products.

The promotion of products through different types of media, such as television, radio, print, and
online platforms is known as Marketing Campaigns. These campaigns do not solely rely on
advertising but also include demonstrations, video conferencing, and other interactive
techniques.
Over the years, Pulsar has always targeted young adults. With the new ad, the brand is relating
with the youth that’s having their first experiences of legally riding an automobile.
The brand’s ‘Definitely Male’ tag has stayed put through the 18 years of its presence. The new
special campaign tracks the journey of an adventurous child to his adulthood, equating it with
Pulsar’s turning 18. All he does when he reaches the milestone age is, Gets his license ready and
hops on onto a Pulsar.

MARKET SEGMENTATION, TARGETING AND POSITIONING

SEGMENTATION

Before the Bajaj pulsar came to the Indian market Bajaj was known for manufacturing scooter,
various attempt was failed because of hero Honda legacy.

It was strategic move by Bajaj when it introduced the Bajaj pulsar 150cc against CBZ 150 cc.

Pulsar proved to be one of the most successful two wheeler bike and became the threat for the
hero Honda rule in the Indian market

Bajaj has segmented its bike category

From 100 CC To 125 CC bike – Lower And Lower Middle Class family.

From 125 CC To 150 CC bike – Middle and Upper Middle Class family.

From 150 CC To 220 CC bike – Upper Middle and Upper Class family.

TARGETING

Bajaj did the right move by targeting the youth of the India as in India 65 % of the population is
from 18-35.

Pulsar was the Bajaj first bike without Kawasaki label on it.

The bike was mainly targeting the male segment and known for its macho look.

POSITIONING

Bajaj has positioned Pulsar in the “high style and high price “category along with the hero
Honda Karizma, hero Honda CBZ, Royal Enfield.
Bajaj also positioned CT 100 in the “low style and low price “category along with Herohonda
Splender , TVS star city.

BRANDING
BRAND POSITIONING

Pulsar

Discover
Rebranding from Hamara Bajaj to Distinctly Ahead

Hamara Inspiring Distinctly

Bajaj Confidence Ahead

Earlier Bajaj used “B” logo in a hexagon that was known for” Hamara Bajaj” was replaced with
a more attracting, stylish, vibrant, dynamic look moving from the lower caps to upper caps which
symbolize the rejuvenated Bajaj auto ltd.

The change in the logo was the ongoing change Bajaj

has transformed its facilities like manufacturing process,
service and distribution network, created its benchmark in
research and development activities. When customer has
changed in terms of quality and style then change in the
identity became the necessary change for the Bajaj to
invite the paradigm shift in the consumer’s perception
regarding the company.

Bajaj pulsar joined hands with MTV India in the year

2009 in order to launch pulsar MTV stunt mania which
was India’s first ever bike stunt reality show. The main
intention of the Bajaj to target the youth of the India and MTV being the youth centric for the
excellent choice.
ADVERTISING STRATEGY

Bajaj is known for its outstanding ads because they don’t use the brand ambassadors in their ads
which help the company to save lots of cost. Bajaj used punch line like “Naye Bharat kin aye
Tasveer “ added great value to its two – wheeler product.

Recently ,Bajaj changed its logo and also changed its punch line “Hamara Bajaj” which got
converted to “inspiring confidence” the reason for the change as told by the company officials
was to keep pace with the new technologies in the fast moving world to match with other
competitor. Even though Bajaj has changed its punch line which doesn’t created much impact on
the brand image of the company. .

The Business group and the Society

Bajaj Group believes that the true and full measure of growth, success and progress lies beyond
balance sheets or conventional economic indices. It is best reflected in the difference that
business and industry make to the lives of people.

Through its social investments, Bajaj Group addresses the needs of communities residing in the
vicinity of its facilities, taking sustainable initiatives in the areas of health, education,
environment conservation, infrastructure and community development, and response to natural
calamities. For society, however, Bajaj is more than a corporate identity. It is a catalyst for social
empowerment. It is the reason behind the smiles that light up a million faces.Its goodwill
resonates in the two simple words that live in the collective consciousness of Indians Hamara
Bajaj.

The Corporate Social Responsibility (CSR) activities of Bajaj Group are guided by the vision
and philosophy of its Founder, late Shri Jamnalal Bajaj, who embodied the concept of
Trusteeship in business and common good, and laid the foundation for ethical, value-based and
transparent functioning.

EDUCATION:

The two flagship projects for Bajaj Auto have been the Bajaj Education Initiative (BEI) and
the e-Learning Project. The BEI covers 76 low cost schools (a mix of private and government
schools) in Pimpri-Chinchwad area of Pune, and supports them with infrastructure development
and capacity building. The e-Learning project has reached more than 1550 schools till date-
covering Maharashtra and Rajasthan. Both of these are implemented by Jankidevi Bajaj Gram
Vikas Sanstha, our own NGO.

In addition Bajaj Auto has supported school infrastructure development, vocational training for
entrepreneurship, teach-to-lead as well as scholarships for meritorious students.

Bajaj Auto is also supporting Bhartiya Yuva Shakti Trust (BYST) in training 25000 young
persons in Aurangabad and Wardha to create 1000 entrepreneurs in 5 years. Over 177
entrepreneurs have been created in first 2 years of the project.

WOMEN’S EMPOWERMENT & SELF RELIANCE:

Bajaj Auto has supported IISER, one of India’s leading research institutes, in constructing a
dedicated Hall of residence for Women Research Scholars. Bajaj Auto has continued to support
the Banasthali Vidyapeeth (a women’s university) in setting up a Hostel and a Bajaj center for
Automation and Bajaj Law School.

Bajaj Auto also supports the Kailash Satyarthi Children’s Foundation in its work on holistic
development and empowerment of children.

SUPPORTING ARMED FORCES & VETERANS:

Bajaj Auto has contributed Rs 1 Crore to the Armed Forces Flag Day Fund.

RURAL DEVELOPMENT & OTHER PROJECTS:

Bajaj Auto has supported Sevagram Pratishthan at Wardha for renovation of Bapu Kutir and
associated buildings. Bajaj Auto has also initiated a partnership with Raja Dinker Kelkar
Museum at Pune for renovation of the museum.

Other supported organisations include Social Work Research Center - Barefoot College(Tilonia),
Development Initiative for Self-Help and Awakening – DISHA (Pune), Chinmaya Organization
for Rural Development (New Delhi), Prafulla Dahanukar Arts Foundation (Mumbai) etc.

Bajaj Auto Has also supported Paraplegic Rehabilitation Center at Khadaki, Pune, with 20 State
of the Art wheelchairs.

COPING WITH CHANGES

Bajaj Auto is the flagship company of the Bajaj Group of Companies. Bajaj Auto Limited (BAL)
is currently India's second largest two wheeler and three wheeler manufacturer. The core
competency of Bajaj Auto Ltd is its technology and innovation. Both DTS-i (Digital Twin Spark
Ignition) and DTS-Fi (Digital Twin Spark Fuel Ignition) are technological breakthroughs by
Bajaj. BAL is also a pioneer in product innovation having introduced technologies such as
ExhausTEC (Exhaust Torque Expansion Chamber), LED Tail Lamps, LCD Display, SNS, Spare
parts (Tubeless tyres, rear disc brakes), Black colour scheme etc.

Thus we observe that BAL which used to be a Defender in 1970-1990 through Bajaj Chetak
radically moved towards becoming an Analyzer (1990-1997) by focussing on bike segments and
has now become a Prospector (1997-date) with several patents in its kitty and new bike launches
every year. Therefore, for a follower to move on and become a market leader it is essential that it
focus on innovation and consumer demand.

The re-branding exercise gone haywire

In the beginning of 2011, Bajaj decided to withdraw its family name from its products and
develop individual brands having their own identity. The rationale behind this was since Bajaj
group diversified into areas like electrical, finance etc, having the family name would confuse
the buyer what they actually stand for. So basically, Bajaj had restructured itself from a branded
house (many products under an umbrella brand) to a house of brands (separate brands owned by
a parent). For example Volkswagen is a house of brands - Audi, Bentley, Lamborghini function
separately and do not carry VW badge anywhere. Though aimed at reducing confusion the
exercise seems to have created just that. The brands now functioning independently are poaching
into each other's territory. Discover has stepped into Platina's segment, Pulsar has model in
KTM's space etc. These overlaps create misunderstandings in terms of positioning resulting in
diluted brands and cannibalization of sales. Bajaj has seen its market share decline since then.

Bajaj Auto has partnered iconic British motorcycle brand Triumph to produce mid-capacity bikes
for the Indian and overseas markets.
 
Engineers from Bajaj Auto and Triumph Motorcycles have been working on the new
motorcycles at the former’s Chakan plant for some months. The no-equity partnership will
develop a range of mid-capacity 250-750cc motorcycles.
 
Focus on Gearless Scooters

The market share of gearless scooters is increasing at a healthy rate. Bajaj is virtually absent in
this range that caters to the needs of women and families. Presently Honda, Hero Honda and
TVS are big players in this segment.

Entry into Four Wheeler Segment

Bajaj has entered into a joint venture with Renault-Nissan in the development of a small car
priced at $30004. This is a significant move because it directly competes with Tata NANO. Bajaj
has also displayed its small car prototype in the recently held auto expo. It promises double the
mileage as compared to any car in the economy segment and is also considering the option of
introducing Diesel and LPG variants. The four wheeler segment will also be able to hedge any
risk that might arise because of the two wheeler industry and would profit from retaining
consumers switching from two wheelers.
Scaling Up Service Centers

BAL needs to scale up its service centers both in numbers and in capacity. Keeping in line with
its growth target for the next 5 years, its service centers should not only cater to two wheelers but
should also be upgraded to cater to the needs of four wheelers that Bajaj plans to launch.

Focus on Easy Credit Lending

In the present economical crisis, Bajaj can utilize its subsidiary, Bajaj insurance in coming up
with schemes that will help consumers buy two wheelers on friendly terms.

Investment in Research and Development

We have already identified that the core competency of Bajaj is its R&D and investment in
technology. In order to increase market share and become the market leader, Bajaj needs to
invest heavily in R&D. They have to introduce efficient and powerful bikes as well as develop
alternate energy vehicles.

Focus on Exports and Global Market

Bajaj Electricals has already setup a manufacturing unit in China. As set up cost and export
costs are extremely cheap in China, we recommend the same strategy for BAL. By doing so,
Bajaj can utilize low cost exports.

Bajaj is not yet a global name. Considering the fact that it is one of the oldest two wheeler
companies and is doing very well in India, it should definitely target global markets. A
movement is seen in this direction since it is focusing on the British cult bike company,
Triumph as its target takeover. Triumph, given its niche positioning, cult brand image and
strong product line-up, is an attractive target for the Pune based firm.

Disbanding of Dedicated Sales Force for each Product

 Because of the differentiation in the products that Bajaj currently possesses and is expected to
launch in the near future we recommend Bajaj to discontinue its current strategy of dedicated
sales force for each product line. This would eventually achieve synergies in selling thereby
leading to a reduction in costs.

MAJOR EVENTS

2001-2002:

Product Award Award Body

Bajaj Eliminator Most Exciting Bike of the OVERDRIVE

Year 2001

Bajaj Eliminator Bike of the Year 2002 OVERDRIVE

Bajaj Pulsar Most Exciting Bike of the OVERDRIVE

Year 2002

Bajaj Pulsar Bike of the Year 2002 s Standard Motoring

2002-2003:

Product Award Award Body

Bajaj Pulsar Bike of the Year 2003 ICICI Bank

OVERDRIVE Awards
Product Award Award Body

2003

Bajaj Pulsar Motorcycle Total Customer NFO Automotive

Satisfaction Study 2003

Bajaj Boxer AT BBC World Wheels Award for BBC World Wheels
KTEC Best Two Wheeler under 
Rs 30,000

Bajaj Pulsar 150 BBC World Wheels Award for BBC World Wheels
DTS-i Best Two Wheeler between 
Rs 45,000 to Rs 55,000

Bajaj Pulsar 180 BBC World Wheels Award for BBC World Wheels
DTS-i Best Two Wheeler between Rs
55,000 to Rs 70,000

Bajaj Pulsar 180 BBC World Wheels Viewers BBC World Wheels
DTS-i Choice Two Wheeler of the 
Year 2003
2003-2004:

Product Award

Bajaj Wind 125 Bike of the Year 2004

Bajaj Wind 125 Two Wheeler of the Year 2004

Bajaj Pulsar DTS-i Bike of the Year 2004

DTS-i Technology Auto Tech of the Year 2004

2004-2005:

Product Award Award Body

Bajaj Pulsar DTSi TNS Automotive Total Customer NFO Automotive

 Product Award Award Body

Satisfaction.

Bajaj Discover DTS-i Bike of the Year. OVERDRIVE

Bajaj Discover DTS-i Indigenous Design of the Year.

2005-2006:

Bajaj CT 100 Motorcycle Total Customer TNS Automotive

Satisfaction Study 2005.

Bajaj Discover DTS-i Indigenous design of the year 2005. OVERDRIVE

Bajaj Discover DTS-i Bike of the year 2005.

2006-2007:

Pulsar DTS-Fi Bike of the year. CNBAwards

 Platina 100cc Bike of the Year.

2007-2008:

Pulsar Ranked First in 'TOP 30

AUTOMOBILE BRANDS OF
INDIA.'

Bajaj Auto, Waluj First prize for category

"Productivity Thru Quality".

Mr. Rajiv Bajaj Rashtrabhusan Award. el Instruments and

Engineering)

Mr. Rahul Bajaj Lakshya Business Visionary Award.

2008-2009:

Discover DTS-Si 100cc Bike of the Year.

Pulsar 135LS 150cc Bike of the Year.

Kawasaki Ninja 250cc Bike of the Year.

Pulsar 135LS 4-V Technology of the Year.

Discover DTS-Si Most Value for Money-Bike of the

Year.

Kawasaki Ninja Motorcycle of the Year - Bike upto C NDTV

250 cc. a Profit
&

B
i
k
e

Bajaj Discover DTS- Motorcycle of the Year - Bike upto

Si 125 cc.

Kawasaki Ninja Two Wheeler of the Year.

Bajaj Discover And Best Integrated Campaign - Two

Pulsar wheelers.

Kawasaki Ninja Bike of the Year. O CNBC

v
e
r
d
r
i
v
e

Bajaj Discover Best StoryBoard Commercial.

Bajaj Discover Best TV Commercial. A

u
t
o

I
n
d
i
a

Kawasaki Ninja Bike of the Year 2009.

2009-2010:

Kawasaki Ninja Bike of the Year.

Pulsar 135LS Bike of the Year.

Discover DTS-Si 100cc Bike of the Year.

T - ZigWheels

2010-2013:

Pulsar 200 NS NDTV Car & Bike Two wheeler of the Year.

Pulsar 200 NS NDTV Car & Bike Motorcycle of the year upto 250cc

Pulsar 200 NS NDTV Car & Bike Automotive Design of the Year

2013-2016:
 Publication/TV Awards for BAL
Channel

Autocar/ Times Now RS 200- Reader's Choice bike of the year

BBC TopGear RS 200- Reader's Choice bike of the year

Timeline of Events

2009 (JANUARY):

Bajaj Pulsar 150 & Pulsar 180 upgrade launched.

2008 (AUGUST JULY JUNE):

Bajaj Platina 125 DTS-Si launched.

 2007 (JUNE AUGUST JULY JUNE APRIL FEBRUARY JANUARY):

RE GDi autorickshaw launched.

20
2006 (APRIL):

APRI Bajaj Platina launched.

 20
 2005(JUNE FEBRUARY):)

Bajaj Discover launched

20 2004(AUGUSTMAYJANUARY):

Bajaj Discover DTS-i launched.

20 2003(OCTOBER JULY FEBRUARY):

Bajaj Pulsar DTS-i is launched.

20 2001(JANUARY):

Bajaj Auto launches its latest offering in the premium bike segment 'Pulsar'.

20

2000:

2000 The Bajaj Saffire is introduced.

1999:
1999 Caliber motorcycle notches up 100,000 sales in record time of 12 months.

19

1998(JUNE JULY OCTOBER):

Production commences at Chakan plant.

19

1997:

1997 The Kawasaki Bajaj Boxer and the RE diesel Autorickshaw are introduced.

19 1995:

Bajaj Auto is 50. Agreements signed with Kubota of Japan for the development of
diesel engines for three-wheelers and with Tokyo R&D for ungeared Scooter and moped
development. The Bajaj Super Excel is introduced while Bajaj celebrates its ten millionth
vehicle. One million vehicles were produced and sold in this financial year.

19 1994:

1994 The Bajaj Classic is introduced.

19 1991:

1991 The Kawasaki Bajaj 4S Champion is introduced.

19 1990:

1990 The Bajaj Sunny is introduced.

1986:

The Bajaj M-80 and the Kawasaki Bajaj KB100 motorcycles are introduced. 500,000
vehicles produced and sold in a single financial year.

1985:

The Waluj plant inaugurated by the erstwhile President of India, Shri Giani Zail Singh.
Production commences at Waluj, Aurangabad in a record time of 16 months.

1984:

JFoundation stone laid for the new Plant at Waluj, Aurangabad.

1981:

The Bajaj M-50 is introduced.

1977:

The Rear Engine Autorickshaw is introduced. Bajaj Auto achieves production and sales of
100,000 vehicles in a single financial year.

1976:

The Bajaj Super is introduced.

1975:

BAL & Maharashtra Scooters Ltd. joint venture.

1972:
The Bajaj Chetak is introduced.

1971:

The three-wheeler goods carrier is introduced.

1970:

1Bajaj Auto rolls out its 100,000th vehicle.

1960:

1Bajaj Auto becomes a public limited company.Bhoomi Poojan of Akurdi Plant.

1959:

1Bajaj Auto obtains licence from the Government of India to manufacture two- and three-
wheelers.

1948:

1Sales in India commence by importing two- and three-wheelers.

1945:

Bajaj Auto comes into existence asM/s Bachraj Trading Corporation Private Limited.
Exhibits:
 Conclusion

Insurance happens to be a mega opportunity in India. Yet, nearly 80% of Indian population is
without life insurance cover, continue to be below international standards which offer greater
opportunities in this sector. With other investments avenues remaining unmoved, insurance and
mutual funds offer comparatively better returns to customers. With tax and investment planning
as its main targeting tools, insurance is bound to grow at a rapid pace.

The project helped me to find out the customer satisfaction and expectations from the various
plans offered by insurance companies with specific reference to market linked insurance plans.
Appropriate suggestions have been given based on the research findings. It was a great learning
experience and I will carry this experience with me in all my future endeavours.

Bajaj Allianz is one of the companies in the private sector which are doing exceptionally good in
this sector due to their policies to which are people find very attracting according to their needs
When people were interviewed about the first preference among the private life insurance
companies nearly 46% replied for Bajaj Allianz, this clearly indicate that Bajaj Allianz is quit a
household name. Bajaj Auto Limited which is the no. Automotive Manufacturer in India also
Allianz AG is 3rd largest life insurance company in the world. The market share of Bajaj Allianz
also around 34% among private life insurance companies which is quite high among private life
insurance companies. It is only second to LIC in the life insurance sector. But if there are people
accepting Bajaj Allianz, there are people who are still hesitant to take up private insurance
companies‟ policy this is due to the fact that LIC is a government organization. It can be seen
from the study that people have started recognizing Bajaj Allianz as a life insurance and hence it
will grow at a much faster pace in the future
 Bibliography
Author Name
 Philip Kotler & Grey Armstrong - Principle of marketing
 Donald S. Tull & Del I. Howkins – Marketing research
 Dr. S. Gupta – Statistical method Kothari C.R. – Research
methodology, Methods & Techniques
 Varshney R. L. & Gupta S.I. – Marketing management

Newspaper
 The Times of India
 Economic Times of India

Information for the Links

 www.acdemia.edu.com
 www.bajajelectricals.com
 www.info@gibl.com
 www.bajajallianz.com
 http://m.economictimes.com
 http://www.bajajfinsrev.com