A Project Report on Customer Behaviour

towards the Marketing Mix and Promotional

Strategies of
IDBI Federal Life Insurance Co. Ltd.
INTRODUCTION
What is Insurance?
Types of Insurance
Challenges faced by Insurance Industry
ABOUT THE COMPANY
Joint Venture of IDBI Bank, Federal Bank
and Ageas
Started in March 2008
MD & CEO G.V. Nageswara Rao
INSURANCE MARKETING MIX
Product
Pricing
Place
Promotion
People
Process
Physical evidence
PROMOTIONAL STRATEGIES
IN INSURANCE INDUSTRY
Advertising
Sales promotion
Public relations and publicity
Events and Experiences
Direct and Interactive Marketing
Word-of-mouth Marketing
Personal Selling
PROMOTIONAL STRATEGIES
ADOPTED BY IDBI FEDERAL
Print Media
TV Advertisements
Distributors
Local events
CONSUMER RESPONSE
TOWARDS STRATEGIES
Have you heard about IDBI Federal Life Insurance Co. Ltd.?

CONSUMER RESPONSE
TOWARDS STRATEGIES
How did they come to know of the company?

CONSUMER RESPONSE
TOWARDS STRATEGIES
Awareness of the advertisements done by IDBI Federal:

CONSUMER RESPONSE
TOWARDS STRATEGIES
Best way to be aware of a financial product:

CONSUMER RESPONSE
TOWARDS STRATEGIES
Purchase of IDBI Federal Products:

CONSUMER RESPONSE
TOWARDS STRATEGIES
Familiarity with the website:
CONSUMER RESPONSE
TOWARDS STRATEGIES
Influence on the buying behaviour through these promotional
strategies:

CONSUMER RESPONSE
TOWARDS STRATEGIES
Who should endorse the brand?
CONSUMER RESPONSE
TOWARDS STRATEGIES
Connecting factor
CONSUMER RESPONSE
TOWARDS STRATEGIES
Awareness about other insurance companies:

LIMITATIONS OF THE STUDY
Confined research
Reluctant respondents
Rapidly changing industry
Environmental changes
RECOMMENDATIONS
Build up customer loyalty
Print Advertisements
Hoardings
Transparent working
Customer awareness
Connection with IDBI Bank