Ppt Of Ps Srinu

A FINAL PRESENTATION ON MANAGEMENT THESIS “A COMPARATIVE STUDY ON SALES PROMOTIONAL STRATEGIES FOLLOWED BY ICICI LOMBARD AND RELIANCE GENERAL,GUNTUR.” Under the faculty supervision of: Miss CH.HYMA (Faculty Guide) ICFAI NATIONAL COLLEGE GUNTUR submitted by P.S.SRINIVASA RAO

OBJECTIVES OF THE STUDY •

To compare and analyze the various sales promotional strategies followed by ICICI Lombard and Reliance General Insurance, Guntur. • To understand the effectiveness of sales promotional strategies of the respective companies. • To present the findings of the study to the organization on customer perception on sales promotional strategies.

LIMITATIONS • Time limitation is the main constraint. • The data given by the respondents may or may not be correct.

SUMMARY •

Promotional strategies are playing very important role in the development and growth of the company. Promotional activities will not only generate business to the organization but also create brand image of the company in the society. The Promotional tools that are widely used by organization for their marketing activities include Sales promotional activities, Advertising, Public relations, Personal selling, Publicity and Direct marketing.

•

The report consists on analysis of Sales Promotional strategies followed by ICICI Lombard and Reliance General. An attempt has made to understand the meaning and the use of Sales Promotional tools and the relevant strategies followed by insurance companies ICICI Lombard and Reliance General,Guntur.

Research Methodology • Primary data is first hand information which is collected through a questionnaire designed for the specific purpose by conducting direct personal interview. • The questions are open-ended and closed ended in nature. Collecting information from the sales executives and management of ICICI Lombard and Reliance General. • Secondary data is collected from Internet, reference books, magazines, journals and company’s brochures and leaf lets.

EMPIRICAL ANALYSIS Reliance General 15%

Advertising

40%

45%

Personal selling

30%

35%

Direct Marketing

10%

50 40 30 20 10 0

5%

Ad ve rti Pe sin rs g on al se Di llin re g ct M ar ke tin g

20%

pr om ot io n

Sales promotion

ICICI Lombard

Sa le s

Promotional Tools

Reliance General ICICI Lombard

ICICI Lombard Reliance General

PERCENTAGE OF USAGE OF SALES PROMOTIONAL STRATEGIES Table-2

Sales promotion strategies

ICICI Lombard

Reliance General

Trade shows

40%

45%

Event sponsorship

30%

35%

Coupons

20%

15%

Discounts

10%

5%

0%

0%

Rebates

PERCENTAGE OF USAGE OF ADDITIONAL ACTIVITIES DURING FESTIVAL SEASON Table - 3 ADDITIONAL ACTIVIES

ICICI LOMBARD

RELIANCE GENERAL

Door to door campaign

25%

20%

Offering free gifts

30%

35%

Conducting trade fairs

30%

35%

Offering temporary price discounting

15%

10%

PERCENTAGE OF BUSINESS GENERATED FROM SALES PROMOTIONAL TOOLS Table-4 Sales promotion strategies

ICICI Lombard

Reliance General

Trade shows

15%

25%

Event sponsorship

45%

40%

Coupons

30%

20%

Discounts

10%

15%

0%

0%

Rebates

FINDINGS • ICICI Lombard and Reliance General Insurance have good brand image. • Because of their top position in the mutual fund industry customers are willing to invest. • Customers are well aware of the companies through their sales promotional strategies. • Companies could boost up their sales through sales promotional strategies. • Sales promotional strategies help the companies to attract new customers as well as increase their business.

SUGGESTIONS • Companies should create awareness about General Insurance through media • Companies should invest more on sales promotional strategies to increase their business • Companies should maintain cordial relationship with the customers after sales and pre sales • Companies should not only follow the sales promotional strategies in festival season but also they should follow these strategies in all the days

CONCLUSION •

ICICI Lombard and Reliance General are promoting their products by making use of the sales promotional strategies like trade shows, event sponsorships, coupons, discounts etc. • The sales promotional strategies that are followed by both the companies have generated lot of income for the company and helped the company to expand its business world wide. Each company got recognition for its sales promotion strategies. The companies are good at their sales promotional strategies, inventing new strategies, increasing business day by day and generating revenue. • The sales promotional strategy is an indispensable one for each company to promote their products without which the company can no longer exists. Even though they are intangible in nature one cannot avoid them. • Ultimately sales promotional strategies play an important role in generating the business and remain as a back bone to the company.