ACKNOWLEDGEMENT

I would like to thank organization’s name and Aditya Institute of Management Studies and
Researchfor giving me an opportunity to learn and pursue my Summer Internship and understand about
Marketingand Research aspects.

I would like to thank and express my sincere gratitude to Iqbal Singh Bansal .Hisconstant
encouragement, valuable insights and attention to detail had made this exercise, a great learning
experience.

I am also thankful to Nikesh Ruparel who contributed his valuable time and gave valuable insights
during the development of the project.

I am also thankful to Dr.NilayYajnik (Director, Aditya Institute of Management Studies and Research)
and my institution, for giving me an opportunity to undergo this learning experience

Special thanks to Prof. Dr. Baisakhi Mitra for her/his valuable guidance in completing this project and
helping me to understand this project better and supporting me with his/her expertise on the same to make
my project worth for my own benefit and also for the overall benefit of the objective of the summer
project.

Last but not the least; I take pride in thanking my family, siblings and friends for their much valued
support.
 TABLE OF CONTENTS

Executive Summary 8
1 Purpose of the report 8
2 Limitations 9
1. Introduction 10
1.1 Overview of the company 11
2. Work done during the project 16
2.1 Target assigned 16
2.2 Target achieved 16
2.3 Technical/soft skill acquired 17
3. About the project 18
3.1 Objective of the study 18
3.2 Data collection from secondary sources 18
4. Literature Review 18
5. Marketing techniques of ABC 24
5.1 Social media marketing 24
5.2 Paid Advertising 25
5.3 Relationship marketing 25
5.4 Word of mouth 25
5.5 Internet marketing 25
5.6 Transactional marketing 25
5.7 Diversity marketing 26
6. Sale techniques of ABC 26
6.1 Spin Selling 26
6.2 High probability selling 27
6.3 Close on objection 28
7. Research methodology 28
7.1Type of research design 29
7.2 Source Date 29
7.3 Type of sampling 29
7.4 Sample Size 30
8. Conclusion 45
8.1 Summery of finding 45
8.2 Future scope 46
8.3 Conclusion 47
8.4 Recommendation 47
Bibliography 48
Annexure 50

1. Executive Summary
1|Page
This project report has been prepared on the basis of the summer internship at Aditya Birla
Capital. The reason behind this was to understand the expertise it has developed and it has
owned, especially in the field of finance and marketing and its product as it is booming industries
in india. The main problem that the company faces today is of sales of its financial products.The
research topic ‘Understanding the marketing techniques and sales of financial products of
Aditya Birla capital’highlights the many strategies that Aditya Birla capital uses and the
effective sales strategy employed by Aditya Birla capital for their financial products. The
research topic includes the strategies, which we were said to come up with as in suggestion for
the products of Aditya Birla capital.

The main objective of the study was how we can implement the marketing strategies of Aditya
Birla Capital in the rural segment of the population, and how we can penetrate in the large
section of the indian population. Which lives in Rural area, the study also focuses on the
investment and saving pattern of low income population. That leads to make new product, which
can be low-income centric population. The data collection method was primarily on the basis of
surveys in the form of questionnaires done across 18 rural area by various group of Mumbai and
outskirts of Maharashtra.

The major finding of the study was that most house hold were having 4 to 6 family member with
earning member varying 1 to 2 people. Major source of the income was from business, farming
and labor with monthly and daily wage type of income. And it was also observed that 81

1.1 Purpose of the Report

 To gain knowledge on how Aditya Birla Capital and other companies markets financial
products and the techniques they use to sell those products.

 To document the activities, which I learned at the workplace.

 Help improve my knowledge on financial products.

 Share my report to people who need some insights on marketing strategies and sales
techniques of financial products.

1.2 Limitations

2|Page
 Time Constraints of just 2 months in the company.

 As an Intern we were not allowed to have access on every financial product of Aditya Birla
Capital
 Limited time to formulate a much-detailed report.

3|Page
 1. Introduction

India has a diversified financial sector undergoing rapid expansion, both in terms of strong
growth of existing financial services firms and new entities entering the market. The sector
comprises commercial banks, insurance companies, non-banking financial companies, co-
operatives, pension funds, mutual funds and other smaller financial entities. The banking
regulator has allowed new entities such as payments banks to be created recently thereby adding
to the types of entities operating in the sector. However, the financial sector in India is
predominantly a banking sector with commercial banks accounting for more than 64 per cent of
the total assets held by the financial system

The Government of India has introduced several reforms to liberalize, regulate and enhance this
industry. The Government and Reserve Bank of India (RBI) have taken various measures to
facilitate easy access to finance for Micro, Small and Medium Enterprises (MSMEs). These
measures include launching Credit Guarantee Fund Scheme for Micro and Small Enterprises,
issuing guideline to banks regarding collateral requirements and setting up a Micro Units
Development and Refinance Agency (MUDRA). With a combined push by both government and
private sector, India is undoubtedly one of the world's most vibrant capital markets. In 2017,a
new portal named 'Udyami Mitra' has been launched by the Small Industries Development Bank
of India (SIDBI) with the aim of improving credit availability to Micro, Small and Medium
Enterprises' (MSMEs) in the country. India has scored a perfect 10 in protecting shareholders'
rights on the back of reforms implemented by Securities and Exchange Board of India (SEBI).

Market Size

The Mutual Fund (MF) industry in India has seen rapid growth in Assets Under Management
(AUM). Total AUM of the industry stood at Rs 23.26 lakh crore (US$ 360.90 billion) as of April
2018. At the same time the number of Mutual fund (MF) equity portfolios reached a record high
of 2.27 billion in February 2018.
On account of rise in investments in the Mutual Funds and other financial instruments, the
revenues of the brokerage industry in India are forecasted to grow by 15-20 per cent to reach Rs
18,000-19,000 crore (US$ 2.80-2.96 billion) in FY2017-18, backed by healthy volumes and a
rise in the share of the cash segment.
Another crucial component of India’s financial industry is the insurance industry. The insurance
industry has been expanding at a fast pace. The total first year premium of life insurance
companies grew 17.35 per cent year-on-year to reach US$ 25.44 billion during April 2017-
February 2018.

4|Page
Along with the secondary market, the market for Initial Public Offers (IPOs) has also witnessed
rapid expansion. The total amount of Initial Public Offerings increased to Rs 84,357 crore (US$
13,089 million) by the end of FY18.
Over the past few years, India has witnessed a huge increase in Mergers and Acquisition (M&A)
activity. The total value of M&A in India rose 53.3 per cent year-on-year to US$ 77.6 billion in
2017 from US$ 50.6 billion in the preceding year.
Furthermore, India’s leading bourse Bombay Stock Exchange (BSE) will set up a joint venture
with Ebix Inc to build a robust insurance distribution network in the country through a new
distribution exchange platform.

Investment/Developments

 Global payments solution giant MasterCard has launched its first technology lab in Pune,
which will enable India to move towards digital economy and financial inclusion.
 Four metro cities of Delhi, Mumbai, Bangalore and Chennai can reap benefits of US$ 7.2
billion annually by increasing payments through digital means##.
 BankBazaar, a financial marketplace start-up in India, raised US$ 30 million in a funding
round led by Experian Plc, a credit rating agency based in UK, taking the company's total
funding to US$ 110 million.
 Private equity (PE) investments in India increased 59 per cent to US$ 24.4 billion in
2017, with average deal size of US$ 42.8 million, according to data provided by Venture
Intelligence.
 Private equity and venture capital firms recorded investments worth US$ 7.9 billion with
180 deals during January-March 2018.
 In May 2018, total equity funding's of microfinance sector grew at the rate of 39.88 to Rs
96.31 billion (Rs 4.49 billion) in 2017-18 from Rs 68.85 billion (US$ 1.03 billion).

1.1 Overview of The Company

Aditya Birla Capital Limited (ABCL) is one of the largest financial services players in India.
Formerly known as Aditya Birla Financial Services Limited, ABCL is the holding company of all
the financial services businesses of the Aditya Birla Group. With a strong presence across the life
insurance, asset management, private equity, corporate lending, structured finance, project
finance, general insurance broking, wealth management, equity, currency and commodity
broking, online personal finance management, housing finance, pension fund management and
health insurance business, ABCL is committed to serving the end-to-end financial services needs
of its retail and corporate customers under a unified brand — Aditya Birla Capital.

5|Page
 Anchored by more than 14,500 employees, ABCL has a nationwide reach through over 1,500
points of presence across 400 plus cities and more than 190,000 agents / channel partners. Aditya
Birla Capital manages, through its subsidiaries and joint ventures, aggregate assets worth Rs.
Over 3000 billion and has a lending book of Rs. 514 billion as of March 31 st, 2018, placing it
among the top 5 private diversified NBFCs in India (Source: CRISIL), the 3 rd largest assets
management company in India by domestic AAUM as published by AMFI for the quarter ended
March 2018 and as one of the Top 5 Fund Managers in India (excl. LIC).

Aditya Birla Group

Aditya Birla Capital Limited is a part of the Aditya Birla Group, a USD 40 billion Indian
multinational in the league of Fortune 500. Anchored by an extraordinary force of over 120,000
employees, belonging to 42 nationalities, the Aditya Birla Group operates in 36 countries across
the globe. About 50 per cent of its revenues flow from its overseas operations.

Vision and Values

"To be a leader and role model in a broad-based and integrated financial services
business."
The 4 pillars of our vision that will help us achieve it are:
 To be a leader – we are committed to being a leader in all facets of our businesses, rather
than being just another participant in this race.
 To be a role model – we will not become leaders by cutting corners or making
compromises. Whatever we do, we will strive to be the best in class. And if we are the best, then
our customer will have no reason to go elsewhere – therefore our leadership is assured, on pure
merit.
 To be a broad-based player – we are committed to meeting all the felt and unfelt needs
of our target customer. And thereby, we can retain him or her across their needs and life-stages.
 We aim to be an integrated player –we believe that this approach gives us a
competitive edge through sharing of best practices, deriving cross – business synergies &
providing talent pool with world of opportunity to grow.
Our customers place a lot of trust when they choose us as a partner for fulfilment of their dreams
- be it buying a dream home or investing their hard-earned money in mutual funds or for meeting
their retirement or child's education or protection needs or taking a business loan for expansion.
At Aditya Birla Capital, our endeavour is to become a preferred financial services brand of
choice for all our customers’ needs across their life cycle - a brand that customers will not only
just trust but also happily endorse. Keeping this customer insight in mind, we have created a
unique strategy & structure to present our spectrum of businesses and offerings under one virtual

6|Page
 brand. From a customer perspective, this offers simplicity & convenience. For our employees,
we offer a world of growth opportunities across all our financial services offerings. In addition,
to our shareholders, this gives the reassurance that we will attract and retain our customers, cost
effectively, across their life-cycle needs.

Board of Directors

Kumar Mangalam Birla Chairman and Non-Executive Director

Sushil Agarwal Non- Executive Director
SantruptMisra Non- Executive Director
Arun Adhikari Independent Director
P.H Ravikumar Independent Director
Vijayalakshmi R Iyer Independent Director
S.C Bhargava Independent Director

Financial Product and Services

1. Protecting Products

 Life Insurance
Life insurance provides that much needed mental and financial security against the uncertainties
of our life. Discover complete protection with our Life Insurance Solutions.

 Health Insurance

Our Health Insurance Solutions don't just protect you from unforeseen health expenses but also
enable you to stay healthy, because your quality of life begins with your quality of health.

 Multiply Wellness

Multiply Wellness is India's first Wellness and Rewards program that rewards you for staying
healthy. The healthier you get, the better your rewards.

 Motor Insurance

7|Page
 Unforeseen accidents behind the wheel, theft or other misfortunes can affect your prized two or
four-wheeler. Choose a motor insurance plan that comprehensively covers you in case of a
mishap.

 Travel Insurance

It is important to protect yourself comprehensively while travelling. We offer travel insurance

solutions that are best suited for your needs, so that when you travel you create only good
memories.

2. Investing Solutions

 Mutual Funds

To live the life we imagined we work hard for our money. Therefore, it is only prudent that our
money works equally hard for us. Mutual Funds are a good choice to put your hard-earned
money to work.

 Wealth Management

Creating wealth is a craft, and so is managing it. Our team is trained to handpick investment
opportunities and carve out a portfolio that is as distinct as your life's goals and aspirations.

 Portfolio Management Services

Managing your investments become easier when you opt for our Portfolio Management Services.
Find out how we can help you with better money management.

 Pension Funds

For individuals looking to create an income for the post-retirement phase of their lives, we offer
Pension funds that invest in a suite of tax-free funds specifically for retirement saving.

 Stocks and Securities

8|Page
 We ensure our investors receive sound advice and service of the highest professional standards,
for which we also offer an advanced multi device technology platform to help grow your wealth.

 Real Estate Investments

Investing in Real Estate is a great way to ensure portfolio diversity and to optimize returns across
asset classes.

3. Financing Solutions

 Home Finance

For a place that you can call yours forever, our team can help tailor financing solutions that are
just right for your needs, be it home finance, home improvement, home construction, or buying a
plot.

 Personal Finance

Don't hold back on things you really want for your family or yourself simply because you are
falling short of funds. Consider a simple and convenient personal loan.

 SME Finance

When opportunities come calling, your business should be able to optimize on each one of them.
We collaborate your ambitions with customized financing solutions that address your business
needs.

 Real Estate Finance

Every opportunity needs financing and keeping that in mind, we offer a range of Real Estate
Financing solutions including Loan against Property, Lease Rent Discounting and Construction
Finance.

 Loan Against Securities

9|Page
 Do not deep dive into liquidating your investments when you need financing. Opt for our Loan
against Securities to raise money against your investments like shares, bonds or even mutual
funds.

4. Advising Solutions

 MoneyForLife Planner

Plan your life's financial journey from cradle to the grave with our free online financial
planning tool.

 My Universe

Make the most of your money and manage it the smart way with MyUniverse

2. Work done during the Project

2.1Target Assigned

During my internship at Aditya Birla Capital I was given various tasks and targets which
included designing advertisements of a product (insurance) for the 4 quarters of a year and
selling insurance policies to customers. We also conducted a rural market survey to
understand the needs and demography of the target audience for a new product of Aditya
Birla Capital that caters to daily to low income families which was the live project assigned
to us.

2.2 Target Achieved

With a target to complete at least one sale of an insurance policy. I was not able to achieve
the target.

10 | P a g e
 The other targets which was designing advertisements and costing of insurance policies as
well as the live project in the rural area has been achieved by me.

2.3 Technical/Soft skills acquired

During the 2 month’s internship program I acquired few skills, some of which are:

1. Communication

During these 2 months talking to clients and convincing potential candidates to buy the
product, I have acquired the skill of communication which has given me the confidence
and an understanding of a way of talking to people for future prospects and how to pitch
the product.

2. Flexibility

Not always did the potential candidates had the time to talk to us at that very moment.
This helped me being flexible in making calls according to the time that those potential
candidates were free, even if it meant calling after work hours.

3. Time Management

Time management is closely related to the ability to work under pressure, as well as
within tight deadlines. I had to manage my time well enough to be able to efficiently
priorities tasks.

4. Sales Pitch

Pitching a product to a client is hard especially if the product is intangible like an

insurance policy is. I have learned how to pitch a client effectively and convince him and
gain his trust.

3. About The Project

3.1 Objective of the study

11 | P a g e
  To understand the various marketing techniques that Aditya Birla Capital uses.
 To determine the sales strategies of Aditya Birla Capital for financial products.
 To understand the Demography and other factors influencing Rural audience with
regards to insurance.
 To gather feedback and views about Aditya Birla Capital advertisement.

3.2 Data collection from secondary sources

The data has been sourced through websites of Aditya Birla Capital, brochures, and other
sources.

4 Literature Review

SimanMajaro(2006) On the basic of the recent researches among US insurance companies, this
article demonstrates that the more marketing-oriented companies have fared better then those
which have relegated marketing to a relatively less important role in their management of
insurance firms should consider in some depth if they intend to espouse the marketing concept
fully.

Jon Holtan(2007)the paper deals with theoretical and practical pricing of non-life insurance
contracts within a financial option context fits well into the practical nature of the non-life
insurance pricing and valuation. The fundamental characteristics of most insurance markets, such
as the apparent variation in insurer price offers for the same risk in the same market, support the
need for a market based approach. The paper outlines insurance and the option pricing in a
parallel setup. First it takes a complete market approach, focusing on dynamic hedging, no
arbitrage and risk-neutral martingale valuation principles within insurance and options. Secondly
it takes an incomplete market view by introducing supply and demand effects via purchasing
preferences in the market. Finally the paper discusses market based insurance price models,
parameter estimation techniques and international best practice of insurance pricing. The general
purpose of the paper is to describe and unite the headlines of the more or less common insurance
and option pricing theory, and hence increase the pragmatic understanding of this theory from a
business point of view.

12 | P a g e
Zaheen B. Chummun& Christo A. Bisschoff(2017)The study aimed to identify and investigate
the marketing mix of the funeral Zimele-compliant micro insurance product and its influence on
business success of micro insurance firms in South Africa. The influence of marketers efforts to
address the challenge of financial exclusion to the low income households in south Africa with
regards to microinsurance on business success were explored in the study. A convenience sample
of 173 out of 200 employees completed the questionnaires at two biggest insurance companies
namely; old mutual south Africa and hollard insurance, offering micro insurance products and
services in port Elizabeth was used. The responses signified a satisfactory rate of 86.5%. The
findings revealed the mean values for all independent variables generating business success
unsatisfactory result (below 60%). The research is of value to insurers, microinsurers, marketing
managers, academic and researchers.

Trevor Watkins (2010) The personal financial services industry is being changed drastically by
a number of legislative and other measures. As a result, life assurance companies are having to
reappraise their use of marketing methods in a highly competitive environment. This paper
investigates the major industry marketing trends, which are occurring particularly in the areas of
advertising, distribution, new product development and price. The role of IT is highlighted. The
trends are set against a backcloth of an analysis of market penetration by a range of personal
financial services products. The paper ends by outlining likely future trends in the use of
marketing methods by assurance companies as part of their competitive strategies. Data are
presented from published sources and from a series of personal interviews with marketing
executives in the industry.

R.Venkatesan(2015) Mis-selling broadly means unfair or fraudulent trade related practices in

soliciting or selling policies not sought by a customer and where customers feel the policy sold is
different from what they wanted or were promised. The increasing number of complaints could
affect the public’s confidence in insurance products, intermediaries and insurance companies.
"More important, it seriously affects the demand for insurance, which could have serious
implications on insurance as an avenue of tapping savings for longterm investments for the
economy.

Jorn Sass & Frank Thomas Seifried(2012) We analyze the effects of mandatory unisex tariffs
in insurance contracts, such as those required by a recent ruling of the European Court of Justice,
on equilibrium insurance premia and equilibrium welfare. In a unified framework, we provide a
quantitative analysis of the associated insurance market equilibria in both monopolistic and
competitive insurance markets. We investigate the welfare loss caused by regulatory adverse
selection and show that unisex tariffs may cause market distortions that significantly reduce
overall social welfare.

13 | P a g e
Prof Manoj K Pandey (2018)The use of social media is a new development in our insurance
industry. A quick scanning of the social media links / platforms of the leading companies
provides an interesting insight about the growing use. At side of the spectrum there are
companies like Bajaj Allianz General Insurance Co (BAGIC) who have integrated social media
as part of their marketing & communication strategy while on the other side there are many
companies who are yet to recognize the potential and work on this area. The big daddy of
insurance in India , LIC is very strong in this area. No doubt the sheer volume of the customer
base is there to help it but the credit must be given to them to as they are managing the platforms
with utmost regularity & the quality of contents are really good. The general insurance
companies from PSU background are lacking behind & yet to start it in real sense.

Jeremowenson (WNS) said that internet has changed the way customer buy insurance, which is
challenging the traditional sales model. Outsourcing partners, with flexible operating models, are
helping insurance companies to adapt to this environment. The role of third-party service
providers has increased for sales and underwriting processes.

How do I pick a life insurance company article published in Insurance information institute
says, there are several points considered while selecting a life insurance like Product, Identity,
Financial solidity, Market Ethics, Advice and service, Claims and Premium and cost etc.

Ming Zhong ,Zhenzhen Sun (2015)Despite fast growth in the past three decades, the
Chinese insurance market is underdeveloped in terms of insurance density and penetration. In
this study, we examine the cultural influence on insurance consumption in China and present
evidence on the culture influence hypothesis. We find that demand-related factors
explain insurance consumption while supply factors do not. Among the demand-side variables,
those closely related to culture (i.e., percentage of saving in GDP and fraction of urban
population) dominate economy-based variables in driving insurance consumption. Moreover, we
obtain consistent evidence regarding cultural influence on insurance consumption using an
international data-set across 56 countries. In general, our finding suggests that culture plays a
significant role in determining insurance consumption.

Robert E Morgan & Sanjay Chadha (2006) This article details empirical evidence to suggest
that, by and large, UK life insurance salespeople fail to be client-driven in their approach to
customer service. Furthermore, there is insufficient attention given to the nature of exchanges
between service provider and purchaser by these staffs. Therefore, by implication, there is a
deficit in relationship marketing implementation at the service encounter and workbench level.

J. Bradley Karl, Patricia H. Born (2016)This article evaluates the interdependence of medical
malpractice insurance marketsand health insurance markets. Prior research has addressed the
performance of these markets, individually, without specifically quantifying the extent to which

14 | P a g e
they are linked. Increasing levels of health insurance losses could increase the scale of potential
malpractice claims, boosting medical malpractice losses, or could embody an improvement in
medical care quality, which will reduce malpractice losses. Our results for a state panel data set
from 2002 to 2009 demonstrate that health insurance losses are negatively related to medical
malpractice insurance losses. An additional dollar of health insurance losses is associated with a
$0.01–$0.05 reduction in medical malpractice losses. These findings have potentially important
implications for assessments of the net cost of health insurance policies.

Kuniyoshi Saito (2011)In the late 1960s, the performance of automobile insurance declined
dramatically in Japan in spite of rapid growth in the diffusion rate, and the premiums were
sharply raised several times in order to improve the situation. This observation indicates the
possible presence of adverse selection (death spiral), and provides an ideal situation for assessing
informational asymmetry. Using bodily injury liability (BIL) insurance data from 46 Japanese
prefectures over the period 1966 to 1975, this article tests two hypotheses of adverse selection:
(i) high-risk drivers were more likely to join the BIL insurance market and (ii) sharp premium
increases drove low-risk policyholders away. Various empirical analyses show that there is little
evidence for either type of adverse selection. We also test whether a risk-misperception
hypothesis can explain our results, and find some evidence that the population density have a
significantly positive impact on the demand for BIL insurance.

Ramkumar D (2003) Studied the role of relationship marketing in life insurance sector. In
todays impersonal marketplace, customer satisfaction, retention and loyalty are rapidly become
the thing of the past. Relationship marketing brings them back to the forefront, providing easy to
apply solutions and strategies for establishing meaningful bonds with customers and turning
them into reliable, life long partners. Relationship marketing can be defined as the process to
“identify and establish, maintain and enhance and, when necessary, terminate relationships with
customers and other stakeholders at a profit so that objective of all parties involved are met, and
this is done by mutual exchange and fulfill of promises”. The important objectives of relationship
marketing are to acquire new customers, maintain and enhance existing relationship with
existing customers, reactivation of ex-customers, and handling of customer terminations. The
key objective of relationship marketing is to establish a one to one relationship with all the
customers. This may sound like a daydream few years ago, but thanks to the technology
breakthrough and technological solutions providers it is very much of reality.

Rajesham Ch (2004) Revised that insurance sector has not been playing a leading role within
the financial system in india but also has significant socio-economical function, making inroads
into the interiors of the economy and is being considered as one of the fast developing area in the
indian financial sector too. It has also been facilitating economic development with an objective
to build an efficient, effective and stable insurance business in india as well as a strong base to
both the needs of the real economy and socio-economic objective of the country. It has been
mobilizing long term saving through life insurance to support economic growth and also
facilitating economic development, insurance cover to a large segment of people, while the non

15 | P a g e
life insurance and reinsurance firms in india are main providers of risk financing for manmade
disasters and natural catastrophes. Thus both life insurance and non life insurance are found
playing significant role in avoiding or facing the risk of life and business enterprises and also
aiding to certain extents for their smooth sailing.

Mehra J (2005) Studied that economic growth in the emerging markets has time and again
outpaced the developed and industrialized countries. Alongside the rising importance of
emerging economics, their life insurance sector are also drawing more attention. Its been four
years since the life insurance sector was opened up for private players in india. The reason that
prompted the government to bring in reform in this sector are well known. While the public
sector life insurance companies made enormous contribution in the spread of awareness about
insurance and expanded the market, it was recognized that their reach was still limited, the range
of product offered restricted to the services to the consumer inadequate. It was also felt that the
rapid economic growth witnessed in the 90s couldn’t be sustained without a thriving insurance
sector.
Today, the private accounts for nearly 20% of the market. The market share of the private players
has to be seen in the context of this enlarged market. There has been a flurry of private players
providing a wide range of innovation products, services and customized solutions. Emerging
markets such as china, India, Mexico, and Russia are home to some 86% of the world’s
population. Collectively, they account for 23% of world economic output. Yet insurance business
is underdeveloped in these markets.
In fact, india as a country is under insured. Only 35% of the 250 million insurable population is
insured. Exploiting the growth potential of emerging insurance market india and china are in the
spotlight. Both the countries currently attract a lot of attention due to their size, strong growth
performance and favourable regulatory changes. To begin with india and china are the most
populous countries and both have sustained impressive economic growth in the last decade.
Between 1993 and 2003, annual real GDP growth averaged 8.9% in china and 5.9% in india.
Interestingly, both markets have gone through a similar period of nationalization of their
insurance business, although china revoked state monopoly earlier than India.

Calandro j, J Flynn R (2005) Studied that many insurance companies vigorously pursue top
line growth, even though it has the potential to develop unprofitably over time. The time lag
between when insurance is sold and when claims are paid generates risks unique to insurance
companies. Furthermore, the insurance market is both mature and efficient, which means that
profitable opportunities are both rare and untenable unless protected by competitive advantage.
There currently no practical measure available at the business unit level to evaluate insurance
premium growth in the face of the industry’s risk, impairing executives ability to assess segment
opportunities thus hampering strategies decision making. The purpose of this paper is to
introduce a practical measure developed by the authors called underwriting return which aims at
helping to alleviate this situation. The paper introduces UWR which was developed during the
course and scope of the authors, work in the insurance industry, and their research into applying
value based management to that industry. The paper finds that UWR is a practical measure that
property and casualty executives can use at the business unit level to help quantify market
segment to grow, hold, harvest and abandon. A variety of strategies analysis tools, such as the

16 | P a g e
popular boston consulting group matrix, are utilized today. In general the application of such
tools is hampered by an imprecision of measurement but each can add a level of insight to
executive resource allocation options. UWR can further aid insurance executive in strategic
analysis by helping to quantify in which segments to compete, and which ones to abandon. The
paper demonstrates the utility of the measure in an example based on an actual analysis.

Anon (2005) Studied all the aspects of the indian insurance industry along with an outlook for
potential developments. The report examines the trends in industry, beside the competitive
landscape offers a brief analysis on the main players in the industry. It contains an assessment
based on PEST analysis, covering the relevant political, economic, social and technological
factors that have implications for the framework. It goes on to describe the competitive
landscape and provides a comparative financial study of the major players in the industry.
Insurance constitutes an important and increasing proportion of gross financial saving of the
household sector in india. The private sector, in life as well as the non life segments gained more
prominent in the life insurance sector. The factors that have driven change include > increasing
gross financial household saving > deregulation in the indian insurance market > increase in
dependency ratio however, dearth of new product represents a major implication.

Sethi N (2005) Studied that concept of banc insurance in india. Banc assurance has mostly been
a phenomenal success and although slow to gain pace, is now taking off across asia especially
now that banks are starting to become more diverse financial institutions, and the concept of
universe banking is being accepted. In india, the signs of initial success are already there despite
the fact that it is completely new phenomenon. The factor and principles of why it is a success
elsewhere exists in india, and there is no doubt that banks are set to become a significant
distributor of insurance related products and services in the years to come.

Rao (2005)Analysed that the insurance industry has grown by 83% since the opening up the
sector. Remarking on the performance of the insurance industry, C S Rao chairman insurance
regulatory & development authority, said public sector players have not suffered with the
opening up of the sector. Insurance premium income has risen to 82415 crore in 2003-04 against
45000 crore in 2000-01. Rao expects premium income in the life insurance sector to rise further
by 15-16 percent and non life insurance premium by 14% in 2005-06. The growth comes on the
back of healthy demand from the manufacturing sector.

Kannan k.v(2006) Reviewed in their study that the market potential for private insurance
companies is found to be greater in the long run as most of the Indians are of the opinion that,
private insurance companies would be able to perform well in the future. The private and foreign
insurance companies have too immediate steps in appointing more number of agents and /or
advisory in addition to the employees as it has found that agents are the best channel to reach the
general public regarding selling of insurance products. The private and foreign insurance
companies have to concentrate on the factors like prevention of loss assured returns and long
term investment they can also focus on an insurance amount of Rs. 1-2 lakhs with money back

17 | P a g e
policies. Hence the market has potential. The private and foreign insurance companies that are
taking immediate steps can tap it.

Sasidharan Sanjeev (2006) Studied that the insurance sector in india has come a full circle from
being an open competitive market to nationalization and back to a liberalized market again.
Tracking the developments in the indian insurance sector reveals the 360 degree turn witnessed
over a period of almost two centuries.

5.0 Marketing Techniques of Aditya Birla Capital

5.1 Social Media Marketing

Social media often feeds into the discovery of new content such as news stories and
search activity. Social media can also help build links that in turn support
into SEO efforts. Many people also perform searches at social media sites to find social
media content. Social connections may also impact the relevancy of some search results,
either within a social media network or at a ‘mainstream’ search engine.

Aditya Birla Capital does social media marketing in sites like;

 Facebook

 Instagram

 Twitter

 Pinterest

 Linkedin

 YouTube

5.2 Paid Advertising

Aditya Birla Company does traditional approaches of advertising like TVCs and print

18 | P a g e
 media advertising. Also, one of the most well-known marketing approach is internet
marketing. It includes various methods like PPC (Pay per click) and paid advertising.

5.3 Relationship marketing

This type of marketing is basically focused on customer building. Enhancing existing
relationships with customers and improving customer loyalty.

5.4 Word of mouth

It totally relies on what impression ABC leaves on people. It is traditionally the most important

type of marketing strategy. Being heard is important in business world. When you give quality

services to customers, it is likely that they’d promote you.

5.5Internet marketing

It is also known as cloud marketing. It usually happens over the internet. All the marketing items

are shared on the internet and promoted on various platforms via multiple approaches.

5.6 Transactional marketing

Sales is particularly the most challenging work. Selling is always tough especially when there are

high volume targets. However, with the new marketing strategies, selling insurance isn’t as

difficult as it was. ABC encourages customers to buy with premium rebates, tax benefits and

other features of the products. It enhances the chances of sales and motivates the target audience

to buy the promoted products.

5.7 Diversity marketing

It caters diverse audience by customizing and integrating different marketing strategies and

products. It covers different aspects like cultural, beliefs, attitudes, views and other specific

needs. Especially, rural and urban markets.

19 | P a g e
6.0 Sales Techniques of Aditya Birla Capital

6.1 SPIN Selling

SPIN selling can be described as a "hurt and rescue" approach. The technique is based
on asking incisive questions to identify a problem, then causing tension by discussing
the negative consequences that may occur. You then rescue the prospect by introducing
your product, neatly tailored to solve the problem and relieve the emotional need you
have created.

Tips Given by Aditya Birla Capital were:

Use Situation questions to gain context into the buyer's needs and circumstances:

 "Do you have children?"

 "Do you have a life insurance policy?"

Ask Problem questions to identify specific pain points or worries that your policies can
solve

 "How many dependents do you have?"

 "How much does it cost your family to live in this house each month?"

 "How many children in college do you have?"

Don't go into a sales pitch yet -- find out more first. Letting the customer do most of the
talking only helps your sale.
Next are Implication questions, encouraging the prospect to internally acknowledge the
consequences of these problems and search for a solution:

20 | P a g e
  "Have you thought of what might happen to the kids if you hadn't come home from work
last Friday?" (Use past tense to avoid sounding too crass.)

 "If you were unable to work, could your family afford to stay in this house?"

Last are Need-payoff questions, questions that ask how the problem could be solved,
leading the prospect to ask for a product before it's offered:

 "Have you known a family in the same situation? Were the children able to continue
college?"

 "Are there steps we could take to ease your mind?"

6.2 High-Probability Selling

High-Probability Selling is a direct, honest and upfront acknowledgment that you're there
to sell a product to people who need it now. By avoiding persuasion, trust is quickly
established. Prospects appreciate honesty, and this technique saves time and boasts a high
sales ratio.
Disqualify prospects without immediate interest or means to buy early. Hone your list of
qualifying questions so that they're few -- but effective -- for your product. Ask "Do you
own your own home?" If yes, "Are you happy with your insurance premium?" Most
people will say "No." You can even skip this step entirely by purchasing quality, well-
filtered leads from an established provider.
Once you have determined that a prospect is a qualified, interested buyer, make a direct
statement of what you sell, and list two benefits: "I sell long-term care insurance, which
covers the cost of in-home or nursing-home care if you should ever need it. It can protect
your estate for your heirs."
Set clear, specific conditions to be met before the sale continues, and directly determine if
they'll be met.

 "If you like what you hear about the insurance plan, are you willing to purchase?"

 "I only make appointments if all decision-makers can be there. Can we schedule a time
when the family will be there?"

If your conditions cannot be met, move on to the next prospect.

Present the facts and close by using the word "want" in asking the potential client for
their next move. This is more effective than simply asking for their business

21 | P a g e
6.3Close-On-Objections
Close-On Objections is a technique where the salesperson welcomes the prospect's
objections, viewing them as an expression of interest, then turns them around into reasons
for the prospect to buy. When the client makes an objection, listen respectfully, repeat
objections and affirm your understanding. Do not interrupt or appear too eager to refute
their concerns. An objection is no more than an opportunity to address a concern using
testimonials, data, or another relevant product or option that you offer. If the prospect
uncovers a drawback for which you have no ready answer, offer a compensating benefit.
Objections are also an opportunity to share more information. The goal is to encourage
conversation and informational exchange, instead of making a presentation, lecture, or one-
sided sales pitch. Your well-reasoned and understanding responses to the client’s concerns
will help overcome any reluctance. Each objection is a chance to share more information,
overcome reluctance, and move towards a sale.

7.0 Research Methodology:

Nature of Research Qualitative Research
Data Collection Source Primary and Secondary
Data Collection Method Questionnaires and Survey
Data Collection Technique Surveys
Data Collection Tool Interviews

7.1 Type of Research Design:

22 | P a g e
This research study is a Qualitative research study based on primary data collected in the form of
Questionnaire. It is Qualitative research since a large population was involvedin sample size and
conclusions are made on basis of facts and figures. The sample population used in this research is
people who live in village and are low-income group. This research tries to apply theories and
give new Understandings from the case that is used and explore to see what is the investment
pattern of people of low-income group and have they ever seen any ad. Of Aditya Birla Capital.

7.2 Sources of Data:

In this study, primary data collection is used. Primary data is collected using questionnaire
format in which maximum of 27 Question were asked on two parameter of survey to know depth
knowledge of the pattern of investment and saving and general awareness of Aditya Birla Capital
ad. The data can be used to make new policies or investment for the people who are low in
income and live in remote area of the city and how we can make strategies to help marketing
team to reach their ad to every segment of population.

7.3 Type of Sampling:

Purposive sampling method is used in this Research Study. A purposive sample is a non-
probability sample that is selected based on characteristics of a population and the objective of
the study. Purposive sampling is also known as judgmental, selective, or subjective sampling. A
survey based Questionnaire done to collect responses. Population of 100+ was selected for
research purpose, of which total of 164 responses were recorded.

7.4 Sample Size:

Sample size determination is the act of choosing the number of observations or replicates to
include in a statistical sample. The sample size is an important feature of any empirical study in

23 | P a g e
which the goal is to make inferences about a population from a sample.The main objective of the
survey was to understand the demography and investment choices of the rural market. Samples
were gathered from various places on the outskirts of Mumbai as well as other places in
Maharashtra.

Sample size for propose of this study is about 200.

1) Rural Market Survey

Q1) What are the Number of Family Members in a household?

24 | P a g e
Interpretation: The data shows that almost 70% of the population have family member from 4
to 7 member in the household so it can be assumed the saving of the family would be lesser as
the expenditure would be high. And more no. of customer as of market concern

Q2) What are the Number of earning members in the family?

Interpretation: It can be interpreted that most of the household having either 1 or 2

earning family member.

25 | P a g e
Q3) What are the Sources of income in the family?

26 | P a g e
Interpretation: The income is tending more towards the informal sector as it may be the
because of lack of education and social environment.

Q4) Your Type of Income (Daily, Weekly, Monthly)?

Interpretation: The percentage of people in income generated by them in the form of either
daily or monthly is almost equal that shows the most number of people are working either in
formal or informal type of job.

Q5) What is your total family income?

Interpretation: Income is scattered and by the given data you cannot decide the exact
amount of monthly income but we can say that most no. of people approx. 35% and their
aggregate monthly income falls between 14k to 23k.
27 | P a g e
Q6) Do you have a bank account?

Interpretation: Most no of people are holding bank account approx. 81% that means people are
aware with current period of time and economic system of india, it can also be said that if they
buy any financial product they can transfer and receive money directly to their bank account.

Q7) What is your balance in bank account?

Interpretation: Saving is very less as most of the people are maintaining the minimum
balance account in order to account not be closed this is because of the low income of the
family and household.

Q8) Do you have any savings?

28 | P a g e
Interpretation: Saving of people is not in formal sector they are saving it in other places
rather than financial institution like insurance sector and share market, and 38% people don’t
have any saving.

Q9) What are your mode of savings?

Interpretation: After keeping cash at home the other place to invest their saving is bank that
means people are either not aware of the other financial institute or they don’t trust in
insurance and share market that may be because of the long trust of people over bank.

Q10) What are your savings needed for?

29 | P a g e
Interpretation: The data shows as that people are keeping their saving for the short term goal
like marriage and business they are not saving their amount for their retirement time, they are
only focused for the nearby future.

Q11) Do you get any Government Aid?

Interpretation: It is likely that people in rural area are not in the mainstream of the govt. either
they are above the guideline of govt. to get any aid from them or they are not enough educated or
aware of govt. scheme.

Q12) What is your total expenditure for a month?

30 | P a g e
Interpretation: If we look closely we can observe that in the same survey the income and
expense can be related as we can see the amount expensed by the same people is higher in
comparison to their income that means the saving amount is also very poor.

Q13) What are your areas of expenses?

Interpretation: The most expense of the people is in their basic necessity of life like grocery,
education and house rent. Most part of their income is going only in these 3 areas.

Q14) What is the current educational background of your children?

31 | P a g e
 Interpretation: The data shows that people are very conscious about the education of their
kids as they see what they have been gone through their kids shouldn’t face the same. And
most parents are having their kids which are going in the class between 6th to 10th that means
age of the parents would be between 30 to 40 year of age and that is the good market for a
financial institute specially in insurance sector.

Q15) What is your preferred type of investment?

Interpretation: The investment is made on short term which mean most of people have-not
invested in insurance and other long term investment. This may be because of their need as they
need money in short term so they save it for short term only this can be either in form of cash at
home,bank or in any local society.

Q16) At what age did you get married?

32 | P a g e
 Interpretation: This is very ordinary thing to be found in india people getting married in
early age as they start earning that leads to more expense less saving and it results life to be
not proper planned in term of financially.

Q17) What was the total expenses incurred for marriage?

Interpretation: As shown in data in india the expense done one marriage is very high and in
previous questions also we have seen most people do their saving in big amount for the marriage
of themselves and their kids.

Q18) Any Major disease in the family?

33 | P a g e
Interpretation: India is a developing country and the people who belong from the low income
group and living in the rural area don’t have the facility to have the access to proper medication
that leads to even a minor disease can result in serious concern. From the market point of view
this is an opportunity for the health insurance to penetrate in the market.

2) Survey on Feedback and Effectiveness of ABC Advertisement

Q1) Have your seen this Ad Before?

34 | P a g e
 Interpretation: This ad. Was posted on social media and when people were asked about the
ad they were either not aware of the ad or not sure whether they have seen the ad that means
either they are not connected with social media or the context of the content they watch at
social media is not matched with the ad. Marketing team can come with some new and
innovative ad which are in the same context as they like by their nature.

Q2) Is the Ad Relevant to you?

Interpretation: Even after most people hadn’t seen the ad. but once they saw it they get to
realized the ad. Was relevant to them even whatever context of content they see at social media.
Marketing team should make sure such ad. Should reach to as much people as possible.

35 | P a g e
Q3) Did you connect with this Ad?

Interpretation: The emotion and the context of the ad is as such that connects with the people
even if they don’t think about their future investment but, the ad. Is that can make them think
again.

Q4) After watching this Ad will you give a thought about buying an insurance?

Interpretation: That means the ad is connecting with people and most of the people would think
to buy the insurance product. Advertisement is the thing which makes an impression on the
mindset of the people to think again about their perception.

Q5) Are you aware about the different types of insurance policies?

36 | P a g e
Interpretation: As shown in the data most people are aware of the other type of insurance
policies it may be by the local insurance agents or by the mode of advertisement, but most
impactful ad. Are long in duration but due to cost of the ad it can’t be shown on TV and
insurance companies post their ad at social media.

Q6) Would you talk about this Ad to other people?

Interpretation: Still there are people who do not prefer to talk with people about the insurance
as it is understood as not of worth as they see the gain is after very long time.

Q7) Would you like to see such Ads in future?

37 | P a g e
Interpretation: This data shows that people are interested to watch such kind of ad in future
because the content and the message is real and it goes by their heart and it shows a proper
planning can make life at good place

Q8) Is this Ad better than other insurance Ads?

.

Interpretation: The feedback given by them is right on the spot that they liked the ad better than
other insurance ad.

Q9) Rate this Ad on a scale of 1 to 10

38 | P a g e
Interpretation: The average rating was between 7 to 8 that means the message what company
wanted to deliver has been delivered. Ad. Like this should be made and spread to everyone

8. Conclusion

8.1 Summary of Findings

1) Rural Market Survey

 Most investors opt for two or more sources of information to make investment decisions.

 Percentage of income that they invest depend on their annual income, more the income
more percentage of income they invest.

 Most of the investors discuss with their family and friends before making an investment
decision.

 The investors’ decisions are based on their own initiative.

 Most investors prefer to park their funds in avenues like Mutual Funds, Life Insurance,
Share Market, FD, Gold and Real Estate.

 73% of the people preferred investment in the Short Term and Medium term.

39 | P a g e
 Most of the investors get their information related to investment through electronic media
(TV) or print media (Newspapers/magazines).

 Most of the investors are financial illiterates.

 Most of the investors do not like to invest in any private fund.

2) ABC’s Advertisement Feedback Survey

 Not Many have watched the Advertisement, the figure is only 15 % as the frequency and
channels were few.

 Majority of the People Connected and related themselves and associated themselves with
the Ad.

 Majority of the people liked the Advertisement and found it better than other insurance
Ads. They have also given a response about talking of the Ad to other people.

 The highest score received was 9 for the advertisement.

 There is a gap between the audience and the communication medium. Mostly people have
never seen the Advertisement before as it aired for a very short period on TV.

8.2 Future Scope

By the increase in growth of the rural areas, marketing and providing services to rural markets
will become easier than before. The Growth rate of financial products and services is going to
increase by 1 % every year and maybe more in later years due to the knowledge and various
investment opportunities which are coming in the market. By implementing many other
marketing strategies and sales techniques, ABC has the potential to become a leader in the
financial products segment of the industry.

8.3 Conclusion
40 | P a g e
Over the past three years, around 40 companies have expressed interest in entering the sector and
many foreign and Indian companies have arranged anticipatory alliances. The threat of new
players taking over the market has been overplayed. The market potential for private insurance
companies is found to be greater in the long run as most of the Indians are of the opinion that,
private insurance companies would be able to hold strong market share positions and to be
profitable in futurefinance.

8.4 Recommendations

Opening up the sector will certainly mean new products, better packaging and improved
customer service. Potential buyers for most of this insurance lie in the middle class which they
have to focus in those areas. The private and foreign insurance companies have to take
immediate steps in appointing more number of agents and/or advisors in addition to the
employees as it has been found out that agents are the best channel to reach the general public
regarding selling of insurance products. Financial Organization like ICICI, HDFC or BIRLA
intends to tap the thousands of customers who already buy their deposits, consumer loans or
housing. Insurance companies should also come up with such policies that are affordable for the
low income group and people livening in rural area of the country. The insurance premium
should not be high in amount it should be low amount and latter you can increase the premium in
next upcoming premium and convert it in instalment for the people to pay it easily. A starting
high premium is a very big concern for the low income group and middle class people we can do
such kind of thing to penetrate in these market, which is very big in volume. Another
recommendation is financial institute should not focus only at life insurance, there are other
insurance like health insurance which have a very huge potential and impact on society, and in
our survey data we came to know that most of the people living in rural area are facing major
deceases so that opens the another market to target people based on the health insurance.

Bibliography

Journals:

 SimanMajaro (28 july 2006)

The Service Industries Journal Volume 4, 1984 - Issue 3 Page 77-90

41 | P a g e
  Jon Holtan (09 july 2007) Scandinavian Actuarial Journal, Volume 2007, 2007 - Issue 1
Page 53-70
 Zaheen B. Chummun& Christo A. Bisschoff (02 Oct 2017) Journal of
Economics, Volume 5, 2014 - Issue 1 Page 57-65
 Trevor Watkins (06 may 2010) Journal of Marketing Management, Volume 4, 1988 -
Issue 1 Page 71-87
 R.Venkatesan (10 june 2015 IRDA journal vol. xiv,no.5) IRDA
 Jorn Sass & Frank Thomas Seifried (03 may 2012) Scandinavian Actuarial
Journal, Volume 2014, 2014 - Issue 3 Page 228-254
 Prof Manoj K Pandey (14 may 2018)
 Ming Zhong , Zhenzhen Sun (25 April 2015) China Journal of Accounting
Studies, Volume 3, 2015 - Issue 1 Page 24-48
 Robert E Morgan & Sanjay Chadha(28 July 2006) The Service Industries
Journal, Volume 13, 1993 - Issue 1 Page 112-125
 J. Bradley Karl, Patricia H. Born(03 May 2016) Applied Economics, Volume 48, 2016
- Issue 55 Page 5348-5363
 Kuniyoshi Saito(11 April 2011) Applied Economics, Volume 41, 2009 - Issue 21 Page
2653-2666
 D.ramkumar(2003), “Relationship Marketing – The new tantra for life insurancesector”.
Department Of Management Studies, N.M.S.S. Vallaichamy Nadir College, Nagamalai,
Madurai – 625019 available athttp://www.google.co.in/interstitial?
url=http://www.indiaschools.com/marketing

 Dr. Ch.rajesham (2004), “changing scenario of india insurance sector”, department

of commerce & Business Management, University P G college, Kakatiya
UniversityKhammam, Andhra Pradesh available
athttp://www.insuranceinstituteofindia.com/insuranceinst/publication/uploads/journal-
jan- jun-04/chapter10..pdf
 J.Mehra (2005), “innovations in life insurance industry”, the financial express,
new delhiavailable athttp://www.financialexpress.com/news/innovations-in-life-
insurance-industry

Websites

42 | P a g e
 1. https://www.wns.com/insights/articles/articledetail/127/changes-in-the-insurance-market-give-
a-push-toward-outsourcing/28.07.2018

2. https://www.iii.org/article/how-do-i-pick-life-insurance-company/28.07.2018

3. https://www.tandfonline.com/action/doSearch?
AllField=marketing+of+insurance&content=standard&target=default&startPage=&sortBy=&page
Size=50/28.07.2018

4. https://www.scribd.com/doc/26615183/project-report-on-birla-sun-life/28.07.2018

5. https://www.adityabirlacapital.com/about-us/23.07.2018

Annexure

Q1 What are the Number of Family Members in a household?

 1
 2
 3
 4
 5

43 | P a g e
  6
 7
 8
 9
 10
 11
 12
Q2 What are the Number of earning members in the family?
 1
 2
 3
 4
Q3 What are the Sources of income in the family?
Q4 Your Type of Income (Daily, Weekly, Monthly)?
 Daily wages
 Monthly
 Occasionaly
 None
 Weekly
 Per unit
 Monthly but not fixed
Q5 What is your total family income?
 Rs.7000
 Rs.9600
 Rs.12000
 Rs.14000
 Rs.18000
 Rs.23000
 Rs.28000
 Rs.35000
 Rs.45000
 Rs.200000
Q6 Do you have a bank account?
 Yes
 No
Q7 What is your balance in bank account?
 Zero balance
 Min. balance
 Rs.40000
 Rs.30000
 Rs.1000
 Rs.200000
 Rs.60000

44 | P a g e
  Rs.20000
Q8 Do you have any savings?
 Yes
 No
 LIC
 Mutual Fund
Q9 What are your mode of savings?
 Bank A/C
 Cash at home
 LIC
 None
 Home
 Mutual Fund
Q10 What are your savings needed for?
 Business
 Marriage
 Medical
 Education
 Family
 Living
 Livelihood
Q11 Do you get any Government Aid?
 Yes
 No
Q12 What is your total expenditure for a month?
 Rs.3000
 Rs.6000
 Rs.8500
 Rs.10000
 Rs.15000
 Rs.19000
 Rs.28000
 Rs.100000
Q13 What are your areas of expenses?
 Grocery
 Education
 House Rent
 Shop Rent
 Medical
 Marriage
 Living
 Loan Payment

45 | P a g e
Q14 What is the current educational background of your children?
 5th
 6th to 10th
 College
 None
 BA
 Studying
 Kids to small to go to school
Q15 What is your preferred type of investment?
 Long term
 Short term
 None
 No investment
Q16 At what age did you get married?
 21 Year
 22 Year
 24 Year
 25 Year
Q17 What was the total expenses incurred for marriage?
 Rs.10000
 Rs.20000
 Rs.28000
 Rs.50000
 Rs.250000
 Rs.400000
 Rs.450000
 Rs.600000
 Rs. 800000
Q18 Any Major disease in the family?
 Yes
 No
Q19 Have your seen this Ad Before?
 Yes
 No
 Maybe
Q20 Is the Ad Relevant to you?
 Yes
 No
 Maybe
Q21 Did you connect with this Ad?
 Yes
 No
 Maybe

46 | P a g e
Q23 After watching this Ad will you give a thought about buying an insurance?
 Yes
 No
 Maybe

Q24 Are you aware about the different types of insurance policies?
 Yes
 No
Q25 Would you talk about this Ad to other people?
 Yes
 No
 Maybe
Q26 Would you like to see such Ads in future?
 Yes
 No
 Maybe
Q27 Is this Ad better than other insurance Ads?
 Yes
 No
Q28 Rate this Ad on a scale of 1 to 10
 1
 2
 3
 4
 5
 6
 7
 8
 9
 10

47 | P a g e