Brand Image Analysis

AN ANALYSIS OF THE BRAND IMAGE OF ING VYSYA LIFE INSURANCE AMONG ITS CUSTOMERS (study conducted for Bangalore) Project Report Submitted In Partial Fulfillment Of The Requirements Two Year Post Graduate Diploma In Business Administration

BY (Debasree Paul) Under the Guidance of (Prof. Ranita) Mount Carmel Institute Of Management Bangalore 560052 2009

Objectives of the study

1) To

study the reasons why people buy insurance

products from ING Vysya Life Insurance 2) To study the popularity of the brand ING Vysya Life Insurance 4)To study the level of satisfaction among its customers

Scope of study

The study was conducted in Bangalore city during the period 2nd April to 2nd June,2009 . It was conducted to assess the brand image of ING Vysya Life Insurance among its customers.

Limitations •

The study was restricted to Bangalore , so the views and responses of customers outside Bangalore cannot be known

•

Time constraint was there so the data collected was limited and so the conclusions made from the interviews cannot be taken to be same for all the customers

•

Data provided by the customers is assumed to true, so it cannot be fully relied upon.

Tools and Techniques The study carried out was an exploratory one . The data collected was from both from primary and secondary sources . Primary data collected through personal interview conducted for random customers, questionnaire distribution among the customers , telephonic interview. Secondary data collected from the information available in the company, as well as from the internet and books

Summary of findings 1) The company has customers mainly in the middle age group i.e; 30-50 2) Most respondents invested amounts in the range of Rs.10,000-30,000 3) Main reason for investing in ING Vysya Life Insurance is found to be for the unique and suitable schemes offered 4) The popularity of the brand is found to be average. 5) Highest rated Insurance company found to be LIC in terms of its brand image 6) Quality of the service and customer care are rated to be average by most customers

Conclusions It can be concluded that the company has developed a positive brand image in the Indian markets as well The company though new in India have established its image by the quality of services and it has now established itself in various cities in India. The company has build its image in the market by the years of faithful service that it provided since the time it entered India, also its brand image is build by its innovative policies and also by exhibiting ethical behavior and also advertisement has helped the company in building strong image.

Suggestions 1) Brand image can be improved by adopting better strategies and techniques of marketing 2) Policies can be designed based on customer’s needs and demand 3) Improvement in the quality of service and customer care and advertisement 4) The company can conduct programs in the cities it has newly entered , so as to spread awareness among the people and develop its image 5) the company can do a market survey in order to determine the needs of different age groups , that will help in targeting the appropriate scheme to the right age group .