INTERNATIONAL SCHOOL OF BUSINESS & MEDIA

Bangalore.

SUBJECT: Marketing Management -1

End Term Assignment

BAJAJ Finserv – MARKETING PLAN

Submitted To: Prof. Rajagopalan Srinivasan

Submitted By: Swarnika Kesarwani

Roll No: B2224030
Batch: 2022-24
 BAJAJ FINSERV
Marketing Plan

Our Objective The objective is to provide financial solutions for

retail and SME customers through their life cycle.
These involve: (i) asset acquisition and lifestyle
enhancement through financing, (ii) asset protection
through general insurance, (iii) family protection
through life and health insurance, (iv) providing
healthcare needs for the family, (v) offering savings
products, (vi) wealth management, and (vii)
retirement planning and annuities. Through these
businesses that offer various attractive solutions.

Author of Document Swarnika Kesarwani

 Pg22swarnika.kesarwani@isbmb.ac.in

Table of
Business Summary #

Business Initiatives #
Contents Target Market #

Market Strategy #

Budget #

Marketing Channels #

Marketing Technology #
 Business Summary

Our Company

Bajaj Finserv is an Indian non-banking financial company headquartered in Pune with offices in
Mumbai, Ahmedabad, Indore, Kolkata, Bangalore and New Delhi. The company’s mission is to
provide full-fledged financial services.

Our Marketing Leaders

He is Bajaj Finserv’s national head in insurance (alternative

Arun Kumar Sharma
risk undertaking) marketplace. He drives growth for the
consumer businesses by strategizing, planning and executing
campaigns and customer journey across different touch points
for Marketplace & at-store business model

He is Bajaj Finserv’s head in digital marketing (performance

Neeraj L Pandey
marketing). He built 'Performance Marketing' from the scratch
in 2016, with the core belief that digitally we can generate
revenue for the organization at the least CAC (Customer
Acquisition Cost).

He is Bajaj finserv’s national head in consumer

Ramit Mehra
technology(marketplaces).
SWOT Analysis
As Bajaj Finserv’s marketing team, we want to help the brand lean into what it does well,
improve what it doesn’t, capitalize on what it can do, and defend against what could challenge it.
With that in mind, here is our SWOT analysis for the year 2022.

Strengths Weaknesses

 Solid capital structure  Decreased mutual funds holdings

 Swift financial services  Non-Performing assets
 High revenue turnover  Lack of coverage in rural areas of
 High returns on investment financial products.
 Large range of financial products.

Opportunities Threats

 Global Opportunities  Government policies

 Rise in the private banking sector  Lack of proper cyber security
globally system
 Advancement in technology  Global uncertainty in the financial
ecosystem
 Business Initiatives

Bajaj Finserv has the ambitious goal of providing full-fledged financial services. To help the
business do that, our marketing team will pursue the following initiatives in 2022:

Initiative 1

Bajaj Markets -partners with some of the companies in the

Description
BFSI sector and has onboarded over 18 lending partners,
including BFL, providing a range of products in both
unsecured and secured lending on its platform.

To increase the customer base and market share

Goal of initiative

40,000 Cards sold through partner channels in a month

Metrics to measure
success
Initiative 2

Bajaj Finserv Health - its customers access to healthcare

Description
through prepaid, preventive and personalized covers for
doctor appointments, outpatient services and discounted
services from network hospitals. The Bajaj Finserv Health
application is available on most popular mobile app stores.

To increase the customer base and market share

Goal of initiative

10,000 Unique customers add on the Bajaj Finserv health app

Metrics to measure
per month
success
 Target Market

Industries
In 2022, we’re targeting the following industries where we’ll sell our product and reach out to
customers:

Focused on affluent SMEs with an average annual sale of

around Rs. 15-17 Cr with established financials &
SME demonstrated borrowing track records.

Wholesale lending products covering short-, medium- and

long-term financing needs of selected sectors viz. Auto
Commercial component and ancillary manufacturers, pharma, specialty
chemicals, light engineering and financial institution.

Buyer Personas
Within our target market(s), we’ve identified the following buyer personas to represent our ideal
customers:
 Name – Gunjan Metals
Location – Urban Bengaluru
Background – Small medium size enterprise manufacturing
nuts and bolts from last 15 years.
Goals – To add another warehouse for finished good
SME Frustration – Not able to get insurance for the warehouse as
it is outside the range of banks.
How we can resolve issue – By providing different
insurance solutions which can be accessed by the owner
through Bajaj Finserv mobile app.

Name – Saddles India

Location – Bengaluru
Background – supplier of car seats to Toyota
Goals – to strike another deal with Toyota for current
financial year
Frustration – Not able to get insurance from banks within 2
Commercial
days
How can we resolve issue – By sending the person to the
owner and providing the insurance within a day through
Baja Finserv mobile app.
Competitive Analysis
Within our target market(s), we expect to compete with the following companies:

IIFL FINANCE

 IIFL offers lower Personal loan EMI at Rs. 2212 for

Products we compete 60 months compared to Bajaj Finserv with a minimum
with EMI of Rs. 2275 for 60 months. In addition, average
customer rating for IIFL is currently at 4.8/5.0, making
it a good choice for taking a personal loan.
 Bajaj Finserv allows part payment on personal loan
after 1 months at 2%, while IIFL does not offer a part
payment facility. This makes Bajaj Finserv a better
option for instant loan requirements.

IIFL Finance is the most trusted brand and has millions of

Other ways we compete satisfied customers. With 0 processing fees, IIFL offers gold
loans instantly and hassle-free.

LT FINANCE

 LT Finance offers lower home loan EMI at Rs. 713 on

Products we compete a home loan for 30 years as compared to Bajaj Finserv
with with a minimum EMI of Rs. 755 for 20years.
 Lower interest rate of LT finance home loan is 7.70%,
which is lower than the interest rate of Bajaj Finserv at
8.30% and hence, LT Finance is offering a cheaper
option.

We have a solid expertise in debt advisory and debt arranging,

Other ways we compete capital raising, advisory services, corporate and project
advisory and strategic advisory services. Our extensive
knowledge-based work culture and our ability to understand
your needs helps us stand apart.
Muthoot Finance

Muthoot gives the option to close the loan after Zero months
Products we compete at nil pre-payment charges and Bajaj Finserv gives the option
with to close the loan after 1 month at 4%. This ma

We are one of India's Most Progressive Automobile Finance

Other ways we compete Companies. With an aspiration to empower Indians and
human ambition, we offer fund and non-fund based financial
services to retail, corporate and institutional customers
through the wide network of branches of Muthoot Fincorp Ltd
 Market Strategy

Product
The product is insurance and loan through which Bajaj Finserv will enter in SME’s and
Commercial market. By providing instant insurance within a day across India which can be
accessed by the owner through Bajaj Finserv mobile app. Bajaj Finserv provides digital wallet
facility and also provides clean UI and intelligent UX.

Price
Bajaj Finserv earns more points than its competitors because it has written on various blogs, and
it not only gets new customers because it is getting relevant content, but it also retains existing
customers. Bajaj Finserv will run seasonal promotions/discounts in festive season.

Promotion
Bajaj Finserv will promote its product through social media, television, print media- newspaper.

People
Marketing head- Will create strategy for sales forecasting.

Area Sales Manager- Set a target for all the sales manager.

Sales Executive- Sells products through different marketing channels.

Process
The product will be delivered to the customer through online and offline platforms. It is an
ongoing service as Bajaj Finserv mainly focuses on customer retention.
Physical Evidence
Bajaj Finserv will display its product on Bajaj Finserv app. Customer will get policy documents,
periodic statements, website, renewal notices.
 Budget
Over the course of 2022, given the cash allotted to the Marketing team, we expect to invest in the
following items to ensure we meet the objectives outlined in this marketing plan:

Marketing Expense Estimated Price

Social Media Campaigns 2 Cr

Print Media & TV ads 12 Cr

SEO Marketing 1 Cr

F2F meetings 1 Cr

Selling through agents 4 Cr

Total 20 Cr
 Marketing Channels

Over the course of 2022, we will launch/ramp up our use of the following channels for educating
our customers, generating leads, and developing brand awareness:

Website – Bajaj Finserv

Branding and Awareness

Purpose of channel

45,000 unique page views per month

Metrics to measure
success

Social Media

Brand Awareness
Purpose of channel

5000 conversion per month and (50k – 100 k impressions)

Metrics to measure
success
 Instagram

Brand Awareness
Purpose of channel

50 K - 100 K impressions per month and 20 k site visit.

Metrics to measure
success

Facebook

Brand Awareness
Purpose of channel

55 K - 110 K impressions per month and 30 k site visit.

Metrics to measure
success
 Marketing Technology

We will utilize the following technologies and software to help us achieve our goals and
objectives.

Marketing CRM
Freshworks CRM Software will be used, as the software runs on the latest technology. In
addition to that we can create different contacts and accounts for customers and can track the
suspects and prospects. In addition to that the information can be taken out with a clean UI and
best UX interface.

Email Marketing Software

HubSpot email marketing software will be used as it will help in personalizing every aspect of
the email. High click through rate, send time optimization, user level insights, A/B testing,
powerful rest APIs

Advertising Management Software

Facebook ad manager will be used for managing advertising as we can run ads simultaneously
on various platforms and will be able set target audience by demographically and geographically.
We can also set the keywords and can remove the negative keyword if any.

Video Hosting Software

YouTube will be used for hosting the video. We will use the right keywords in the description
box while posting videos. Plus, we can also take helps of various channels who can promote our
products through their video.