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7/31/2019 SYNOPOSIS 1

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A SYNOPSIS

ON

Advertisement effectiveness in life insurance:A Case study of ICICI Prudential life insurance

Ltd. sirsa

Supervisor: Submitted by

NAME Name of student

DESIGNATION Enrollment No.

Specialization: Specialization:

Remarks of Evaluator

Approved/Disapproved Approved/Disapproved

(I Evaluation) (II Evaluation)

Session 2011-2012

Directorate of Distance Education

GJUS & T, Hisar


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ANNEXURE-II

DIRECTORATE OF DISTANCE EDUCATION

JAMBHESHWAR UNIVERSITY OF SC. & TECH. HISAR

FORMATE FOR RESUME OF SUPERVISOR/GUIDE

1. NAME :

2. DESIGNATION :

3. QUALIFICATION :4. AREA OF SPECIALIZATION :

5. EXPERINECE :

6. OFFICIAL ADDRESS :

7. TELEPHONE No. : ___ __ _ ( off.) _ ___(Res.)

8. MOBILE :

9. E-MAIL :

I am willing to supervise Mr/Ms _ ___________ __

Enrollment No.. __________________________

On the topic ____________________________

______________________________________________

(Signature) with seal


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Countersigned by Director of Study Centre with SEAL


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TABLE OF CONTENT

(i) Title of the project

(ii) Review of literature and Problem Statement.

(iii) Objectives of the proposed study.

(iv) Research Methodology

i. ) Sources of data,

ii. ) Sampling,

iii. ) Tools of analysis

(v) Scope/Relevance of Proposed Study.

(vi) Proposed questionnaire.

(vii) References.


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TITLE OF THE PROJECT

Advertisement effectiveness in life insurance:

A case study of

ICICI Prudential life insurance Ltd. Sirsa


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Review of literature and Problem Statement

Review of literature:

The business of life insurance in India in its existing from started in India in

the year 1818 with the establishment of the Oriental Life Insurance company

in Calcutta.

Some of the important milestones in the life insurance business in India are:

1912: The Indian Life Assurance Companies Act enacted as the first statute

to regulate the life insurance business and to enable the government to collectstatistical information about both life and non-life insurance business.

1938: Earlier legislation consolidated and amended to by the Insurance Act

with the objective of protecting the interests of the insuring public.

1956: 245 Indian and foreign insurers and provident societies taken over by

the central government and nationalized. LIC formed by an Act of

parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore fromthe Government of India. The general insurance business in India, on the

other hand, can trace its roots to the Triton Insurance Company Ltd., the first

general insurance company established in the year 1850 in Calcutta by the

British. Some of the important milestones in the general insurance business in

India are:

1957: The Indian Mercantile Insurance Ltd. Set up, the first company to

transact all classes of general insurance business.

1957: General Insurance Council, a wing of the Insurance Association of

India, frames a code of conduct for ensuring fair conduct and sound business

practices.


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1968: The Insurance Act amended to regulate investments and set minimum

solvency margins and the tariff Advisory Committee set up.

1972: The General Insurance Business (Nationalization) Act, 1972

nationalized the general insurance business in India with effect from 1st

January 1973. 107 insurers amalgamated and grouped into four companiesviz. the National Insurance Company Ltd., the New India assurance Company

Ltd., the Oriental Insurance Company Ltd. And the United India Insurance

Company Ltd. GIC incorporated as a company. Insurance sector reforms in

1993, Malhotra Committee, headed by former Finance secretary and RBI

Governor R.N. Malhotra, were formed to evaluate the Indian insurance

industry and recommend its future direction. The Malhotra Committee was

set up with the objective of completing the reforms initiated in the financial

sector. The reforms were aimed at creating a more efficient and competitivefinancial system suitable for the requirements of the economy keeping in

mind the structural changes currently 9 underway and recognizing that

insurance is an important part of the overall financial system where it was

necessary to address the need for similar reforms In 1994, the committee

submitted the report and some of the key recommendations included:


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Objectives of the Proposed Study

Objectives of the proposed study are enumerated below:

To know the most effective media of advertisement

To find out the reason of liking the advertisement of ICICI

To know how they survive in the cutthroat competition.

To know the promotional strategies of ICICI prudential

To know how they face their competitors strategies.

To know number of new player has entered the market and are viewing

to gain the market share in this rapidly improving market.

To understand & measure the impact of advertising in the market.

To measure the effectiveness of advertisement / promotional activities

for a particular product class and corporate advertising.

To understand and measure the affect of advertising in brand-building,

brand re-call and finally the choice of a plan while buying it.


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Research Methodology

Research methodology is a strategy that guides a research in providing

answers to research questions and for this, research survey is being done.Accuracy of the study depends on the systematic application of the method.

The researcher has to decide the method to be used that helps him to get a

desired direction in a systematic way. This study in the following manner.

Methodology adopted

Questionnaire design:

The questions were designed in an easily understandable way with the help of

(Faculty Guide) .That the respondents may not have any difficulty in

answering them. The questionnaire also contained a comments section. This

section was included so as to get opinion of the people regarding the ICICI

Prudential Life Insurance.

For e.g.

(Q1.) Which media you mostly use for information?(Q2.) On which channel you saw insurance ad mostly?

Random sampling

Sampling can be defined as a part of population. Thus random sampling may

be defined as the selection of a portion from the whole population in which

each elements of the population has an equal chance of being selected. A

more please definition is that each element in the population has a non-zero

and known probability of selection a randomly drawn sample is an unbiasedsample. In this research survey 50 people were surveyed at random to get the

relevant information..


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Sample unit: The respondents who were asked to fill out questionnaires are

the sampling units. These comprise of employees of MNCs, Govt.

Employees, and Self Employed etc.

Sample size: The sample size was restricted to only 50 between age group of

25-40, which comprised of mainly peoples from different regions of India. 55

Sample area: The area of the research was Delhi Metro Railway Quarters,New Delhi, India.

Data collection

Structure questionnaire :

In this collection data, structured questionnaire is used as a tool by asking a

set of standardized questions to know the effect of Life Insurance

Advertisement and behavior of the people for the ICICI Prudential LifeInsurance.

Interview:

The next step involved in collecting information requires discussion with

people. Thus valuable information was gathered informal friendly talks with

the people.

Secondary data collection:Various websites were consulted to collect literature relevant to the topic.

Interpretation:

Interpretation refers to the task of drawing inference from the collected facts

after an analytical study, in fact it is a search for broader meaning of research

findings it is through interpretation that the researcher can well understand

the abstract principle that respondents beneath his findings.The simple

statistical tools will used to analyze the data collection, Bar Graphs and pie

chart have been used to illustrate the findings diagrammatically. The scoresfor advertisement were compiled on spontaneous recall, aided recall and

likeability. The top ads are selected on the basis of their score.


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Scope/Relevance of Proposed Study

The scope and relevance of study is:

To know the benchmark between insurance company

Increase the effectiveness of the company

Can help in increasing the efficiency of the advertisement of the ICICI

prudential life insurance.

Help in better knowing the customer demand and also increasing the

customer relation.

The Authority shall be informed at the time of filing the advertisement

the extent of change the original advertisement Insurance company

advertisements.

Every insurance company shall be required to prominently disclose in

the advertisement and that part of the advertisement that is required to be

returned to the company or insurance intermediary or insurance agent bya prospect or an insured the full particulars of the insurance company,

and not merely any trade name or monogram or logo.

Where benefits are more than briefly described, the form number of the

policy and the type of coverage shall be disclosed fully.


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Proposed questionnaire

Some questions for proposed study:

Q1. Which media you mostly use for information /

Entertainment?

a) Television

b) Newspaper

c) Internet

d) Radio

Q2. How often do you share interesting advertising with

Your family or friends?

a) Never

b) Rarely

c) Sometimes

d) Often

e) Very often

Q3. Have you saw any Life Insurance Product Ad?

a) Yes

b) No


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Q4. On Which channel you saw Insurance ad mostly?

a) Zee T.V

b) Sony

c) Star

d) News Channel

Q5. Which company ad you find mostly? Rank Them..

a) Life Insurance Corporation of India

b) HDFC Std. Life Insurance Co. Ltd.

c) Birla Sun Life Insurance Co. Ltd.

d) ICICI Pru. Life Insurance Co. Ltd.

Q6. Can you recall the content of the Ad of any life insurance

company?

a) Yes

b) No

Q7. Before buying a product do you pay attention to the Brand Name?

a) Yes

b) No

Q8. Which of the Insurance Policy would you like to buy?

a) Life Plan

b) Health Plan

c) Child Plan


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d) Retirement Plan

Q9. Other than T.V Where you saw Life insurance ad?

a) Internet

b) Newspaper

c) Holdings

d) Friends/Family

e) Radio

Q10. Do you think this ad has influence you to.....

a) Buy the insurance policy

b) Recommend the insurance policy

c) Suggest the insurance policy

d) Would you like to inform

Q11. Can you recall if your family members ever tried to influence you

to buy/secure a life insurance Policy from the insurance company of her

interest?

a) Yes

b) No

Q12. Based on the feature ad in that ad rank them....

a) The ad msg is understandable

b) The ad msg is relevant to me

c) The ad is reliable

d) The benefit describe in the ad are believable to me...


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References

BOOKS

i Kothari C.R. (2004), Research Methodology Methods and

Techniques, N. Delhi, New Age International Publication

ii. Green, Paul, Tull (2002) Research for MarketingDecisions,

N. Delhi, Prentice-Hall of India

iii. Sharma D.D.(2008),MarketingResearch:PrincipleApplication

& Cases N. Delhi, Sultan Chand & Sons

iv. Belch, Mandelchge (6thEdition,TataMcGrawHill),

Advertising and Promotion.

v. Batra (5thedition, Pearson Prentice Hall) AdvertisingManagement.

vi. Kotler P. (1999), Marketing Management, N.

Delhi,Prentice-Hall of India.

vii. Jha S.M. (2003), Services Marketing,N. Delhi, Himalaya

Publishing House

Viii. Bitner M.J. (2008), Services Marketing N. Delhi,

TataMcGraw-Hill


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WEBSITES

http://www.iciciprulife.com

http://www.managementparadise.com

http://www.businessworld.in

http://www.outlookindia.com

http://en.wikipedia.org/wiki/icici_prudential

http://www.irdaindia.org

http://www.business-standard.com

MAGAZINE:

1. India today

2. Business week

3. Business today

4. Business indi

JOURNAL:

1. International management

2. Indian journal

3. Sage India

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