(PROGRAMME NAME_ BCOMH)

CIA - I OF PRINCIPLES OF MARKETING MANAGEMENT_COH432N

PROJECT REPORT
ON
STP OF ACKO COMPANY (UNICORN COMPANY)
By

Manohar Kumar (21214062)

Under the Guidance of

(Prof. Jerush John Joseph_ Assistant Professor)

SCHOOL OF COMMERCE, FINANCE AND ACCOUNTANCY

CHRIST (DEEMED TO BE UNIVERSITY) DELHI NCR
MONTH 2023

BATCH: 2021-24
 TABLE OF CONTENTS

Page No.
Sl No Particulars
(from and to)

INTRODUCTION
1 2
OF THE
COMPANY

STP (SEGMENTATION, TARGETING,

2 3-4
POSITIONING)

3 4 P’s OF MARKETING MIX OF ACKO 4-5

5 CONCLUSION 6

1
 INTRODUCTION OF THE COMPANY

Acko General Insurance company was started in 2016 by Varun Dua in India as India’s first
digital insurer, Acko offers car, bike, health, trip, electronics, and hotel stay insurance which are
budget-friendly, with super-quick settlements making insurance effortless.

Acko is India’s first digital insurer that provides customers with hassle-free payments, Instant
renewals, same-day claim settlement, and 24*7 assistance with no inspection or paperwork
needed. which has partnered with some of the best businesses in the digital world such as
Zomato, Amazon, Ola, Red buss, etc. Acko is a driven team working towards improving
every aspect of insurance and delivering our best to the consumers.

In a span of three years, Acko general insurance expanded with technology and sold its
insurance to 50 million unique customers.

2
 SEGMENTATION, TARGETING, POSITIONING (STP)

As Acko General Insurance was just a startup before 2020, the first step Acko was to increase its
brand awareness and reach out to the right audience and that’s when
Disney + Hotstar agreed to collaborate with Acko General Insurance and this collaboration was
a great marketing strategy and the opportunity was coming their way, as the IPL (Indian
Premier League) was just going to begin, this strategy will further be explained.

Segmentation

Marketing is the process of breaking your target market into approachable groups. This
segmentation is based on key markets which the company wants to target, the main target
audience of Acko general insurance was certain cities that were economically
well developed.

3
Targeting

In targeting the main aim is to select the most attractive segments to focus your marketing
on. Acko General Insurance companies’ main aim or target was to reach more people
within the segment which we have mentioned before which is
Economically developed cities.
And that’s when Disney + Hotstar collaborated with Acko general insurance and gave an offer
of promoting their advertisements during the streaming of IPL (Indian Premier League) in
specific cities which was an added advantage because it would reach the specific target region
and target audience to proliferate their brand message gaining 47 million unique customers thus
meeting their objectives successfully.

Positioning

It is the act of designing a company’s product or image in a distinctive way such that it
influences the mind of the target audience as well as the target market. Some of the key images
which Acko general insurance has created in the market to stay different from other sources are:

*No paperwork needed

*No Brokerage paid

Marketing Mix of ACKO (General Insurance)

Products:
Acko General Insurance has the following Products:
1. Car Insurance
2. Bike Insurance

4
 3. Health Insurance

4. Mobile Repair
5. TV and Appliances Repair

Company has tie ups with Ola, Redbus, MakemyTrip, Rapido Passenger, Goibibo,
Dunzo Passenger, Zoom Car, Abhibus, Happay, DriveU for travel and trip protection
plans.

Place:
Acko General Insurance has multiple channels for selling its policies. Acko is selling its
policies through its branches. Insurance Advisors are also recruited by the company. Marketing
Executives are trained to explain the features and benefits of Acko General Insurance. Acko is
also selling its policies through Online Channel. Acko General Insurance has a simple
claim settlement process.

Price:
Premium depends on the Insurance Cover and Age of the Insurer. Acko General Insurance
has competitive pricing and benefits as per the IRDA Regulations. Yearly and Monthly
Premium Payment Options are available in the insurance policies of Acko General Insurance.

Promotion:
Acko General Insurance is taking every possible measure to promote its policies. Acko
General Insurance is using modern techniques for promoting its products and services. Online
advertisements the company is using Google Ad Network and other Ad Networks. The
company is using Facebook Marketing, Whatsapp Marketing, Tiktok Marketing for its
promotion. Acko General Insurance is also advertising its products on Television, Print Media,
and Magazines. It
is also using Hoardings for promoting its products throughout the country. It is also promoting
its products on various Social Media Platforms. These aggressive techniques are developing a
good image among the customers of the company. Acko is also an Official Insurance Partner of
Delhi Capitals.

5
 CONCLUSION

Acko general insurance company India’s first digital insurer company the brand
has created a unique platform in terms of secure insurance policies. In three years
Acko insurance company has grown much forward in terms of technology taking
it completely online and wiping out the paperwork associated with it. Acko never
fails to entertain people with their outstanding advertisements which are fun-filled
and at the same time they also deliver a unique message to the audience.Acko has
launched a new marketing campaign ‘Time Nahi Lagega’ to highlight the company’s quick
claim settlement. The campaign was launched to counter the general perception of insurance
claims being a complicated and time-consuming process. They optimized use of Social media
marketing allows greater reach and flexibility in reaching and targeting customers. Marketing
on social media is also very cost-effective which is very helpful for startup companies. It also
helps the company to learn about the buying patterns of their ideal customers. Now let us look
at the social media followers of Acko on various social media sites.