Project Work

ADVERTISEMENT EFFECTIVENESS

NAME

ANKUR PURI

ROLL NUMBER

XI09007

COURSE

PGPMI

COLLEGE

X LRI

Xavier Labour Relations Institute Jamshedpur

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OBJECTIVE:-

1) What is the effect of the advertisement of icici prudential on present customers as well as on future customers? 2) How icici prudential advertisement stops present customer to go to some other insurance companies. 3) How advertisement gives an expression in the minds of the customer about its brand image? 4) What is the difference that customer think about icici prudential in comparison to other insurance companies, as advertisement as a base. 5) Is advertisement really worked in initiating the customer to buy that product? 6) Which type of advertisement is most effective? 7) How much memorable is icici prudential advertisement is? 8) To know how ICICI prudential face their competitor’s strategy? 9) Which company’s tag line brings an instant recall of the advertisement? 10)What is the net shell conclusion of the customer about the company? 11)How customers feel about icici prudential before seeing the advertisement?

12) What different feature customer found in the same product of the different insurance companies?

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SUMMARY:This report in on the actual survey over 50 people in different location of Jamshedpur. Few points kept in mind while doing survey. • • • •

Age Income Educational qualification Have responsibility

-

20 years to 50 years More than 1,50,000 per annum At least high school pass like children or wife

-

I talked to each and every person in friendly manner so that they give the correct information about the survey and provide me the sufficient time which is required. The major thing is to convey a proper message about the organization and create a good brand image in the minds of the consumers. As I talked to the general public about the appeal of the ad of the different insurance organization in the minds of the customers, they have there opinion in the following way. •

ICICI prudential (Jeete Raho) -

•

AVIVA (kal par control) present?

•

HDFC life insurance (Na sar jhuka hai kabhi, Na jhuke ga kabhi)

Gives an impression of long life benefits. -

-

It talks only about future, what about Its only tell about self dependency.

After doing the survey, the reports are made on the statistical methods like use of interviewing, questionnaire, estimation and simple random sampling. These methods are use to give more clear picture to survey with its reliability. This survey helps me out in analyzing the customers view point regarding the company, and what actually customer thinks about the reliability of the advertisement of the organization?

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RESEARCH

METHODOLOGY:-

 Simple random sampling:It is the method that allows each possible sample to have an equal probability of being picked and each item in the entire population to have an equal chance of being included in the sample.

 Hypothesis testing:Hypothesis testing begins with an assumption, called a hypothesis, which we make about a Population parameter. Then we collect a sample data, produce a sample statistics and Use this information to decide how likely is that our hypothesized population parameter is correct.

 Questionnaire design:The questions were designed in an easy understandable way. That the respondents may not have any difficulty in answering them. The respondents can understand the question very easily and answer in most appropriate manner

 Sample size:The sample size was restricted to only 50 between age group of 20-50, which comprised of mainly people from different regions of India.

 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:Various website were consulted to collect the relevant information.

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This are the analysis done based on the survey done over 50 people, which were randomly selected. The analysis is represented by graphical form as well as in data format.

Q-1) Which media you use most for entertainment?

PERCENTAGE AND PEOPLE

MEDIA OF ENTERTAINMENT

So according to the graph most of the people like to entertain themselves through television. Around 52% of people like TV as there entertainment

60 40 20 0

T.V

RADIO NEWSP INTERN

NO OF PERSON

26

8

10

6

PERCENTAGE

52

16

20

12

medium. Q-2) Do you ever notice life insurance advertisement? According to the survey 81% of people recognize the insurance advertisement. This means that most of the people recognizes the insurance advertisement.

percentage and person

100 80 60 40 20 0

person

percentage

Yes

41

82

No

9

18

Q-3) Which insurance company’s advertisement you notice mostly?

5

PERSON

PERCENTAGE

LIC

15

30%

ICICI PRU

27 3

54% 6%

1

2%

TATA AIG RELIANCE LIFE INSURANCE BIRLA SUN LIFE TOTAL

4

8%

50

100%

Its very easily understandable through this table that ICICI prudential advertisement mostly notice by the people.

Q- 4) What elements you think is most essential in an insurance advertisement?

People

Benefits Price Appearance of the product who promotes it Others Total

Q-5) ) Have you ever had the experience of buying a insurance product because of the advertisement?

35 30 25 20 15 10 5 0

person

no

yes

don’t know

34

11

5

6

34 9 4 2 1 50

PERSO N

So its clear from graph that only 11 person get influenced out of 50 person by seeing advertisement to buy an insurance product.

No Yes don’t know TOTAL

34 11 5 50

PEOPLE

Q-6) How memorable did you find ICICI Prudential advertisement? people

20 18 16 14 12 10 8 6 4 2 0

Very much

PEOPLE

Very much

Average

Very less influence

7

Average

19

Very less influence No influence

15 9

No influence

Now some of the answers are gathered through personal interview, like  How can ICICI prudential stop there competitor through advertisement?  How ICICI prudential advertisement stops present customer to go to some other insurance companies? Answer- According to the customer, advertisement creates a confidence among them and that the most important thing which each and every company wants to create in its customers mind. As per my understanding during the interview, ICICI prudential advertisement creates emotional feelings about the care of their family and also helps in thinking about the investment for there future. I show advertisement of ICICI prudential retirement plan and met life retirement plan to some of the interviewed persons there opinion is that ICIC ad is my realistic and more attractive for them in comparison to met life.

Now some secondary data from net:1) this is volume growth of the life insurance during the years.

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Through figures it can easily be predicted that what would be the growth in 2008 and how vast this industry is and how fast is this industry growing. 2) Following figures shows the amount spend world wide on ads.

This figures represent how huge spending there is on ads and we can imagine how important ads are for the companies. So we should give a proper message through so that present customer retain with the company and new customer formed with the company.

Conclusion:There is the drastic change in advertisement of expense pattern from the last 2 to 3 yrs. Earlier advertisement are of those type in which companies try to make understand the people that what are the benefits of taking the insurance policy, which benefits the whole insurance industry as a whole, whose burden of expense was beard by one single company , but now today’s ad are different the initiate the people only for their own company not for the other company. Now a day’s ads are more appealing than before the not only tell about the benefits like tax saving or security of their love ones but also , the give insurance policy as investment plan for the good returns in comparison to other investment plans. ICICI prudential ad gives customer a feeling of security that they have invested in right place for the investment purpose as well as for the security of their love ones,

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like in retirement plan ad of ICICI prudential , the one line which keeps on repeating is that “I want retirement from my work , not from my life” so these type of thing creates some good feelings and confidence in the mind of customer.

Recommendation :Make customer more aware of the products of the ICICI prudential by different methods like awareness, internet, desire and action methods. So the basic question is how to create awareness? This can be done by following ways:1. By more personal interaction with the customer and giving regular visit to the existing customer so that it creates a confidence in the customers. 2. Holding at the prime areas should be used 3. Creating offers like lucky draws for the users of Internet. 4. Giving free gifts for the customer. As we all know that insurance advertisement represents happiness, cheerful couples and cute babies, we should break this assumption so that we create a mark in the minds of the customer and get recognised very soon, we should create an image so that when ever any customer wants to buy any insurance product, the 1st name comes in there mind should be ICICI prudential. This means that we have to create a bigger brand name in the minds of the customer. More aggressive campaign and awareness programme should be used , more personal interaction and better understanding of customer needs, all these things helps to increase the brand building and increase in sales.

Name Baldev Kumar

Age

Mobile Number

35

0657229069

9

Vasudev

40

9470392169

Rakesh Kumar

20

9304443347

Rajeev Singh

21

9386207603

Chandan Kumar

21

9709012119

Shavik

20

9709033728

Mr Sahu

34

9234509545

Name

Age

Madan Mohan

22

9234526385

S.K Rehman

43

9204057558

Mohan Kumar

24

9204650163

S. Paul

44

9430185100

Sweety Singh

20

9204872552

Mr. Pandit

22

9234500127

Mr. Sinha

30

9973840229

Aman Gupta

21

9234896050

Rajesh

23

09234500127

Deepak Kumar

28

9234509789

Mr. Arjit

21

9234500119

Rajeev Kumar Ojha

30

9973300936

Mr. Panda

31

9234509554

Mr Sanjay

31

9234509528

Mr. Ghosh

36

9234500230

Mobile number

10

N.K Sahu

38

9234509545

Jagdish Sinha

30

9204446160

*Rest of the numbers are not available.

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