Consumer Satisfaction for Mishra & Mishra Insurance As a part of Trimester-3 Project in

Marketing Research

Under the mentorship of !r" #aura$ %oshi

Su&mitted &' #roup-( A'an !e' )*+,-*+3. /ana$ Chaddha )0,-*+3. /anika Aggar1a2)+0,-*+3. Sandeep )-+,-*+3. Sharma

Ashim 3ijha1an )-4,-*+3. /anika Agar1a2 )05,-*+3. A$inash )06,-*+3. Agra1a2

Introduction
In todays world of cut throat competition and tyranny of congruency the consumers have become more critical of the quality of service. Consumers are now very much aware of the alternatives available in relation to services and the provider organizations. Expectations of consumers are rising and the provider organizations should be aware of these expectations. The ob ective of the present study is to compare and analyze the service quality perceptions of customers about !ishra " !ishra and other private sector insurance companies. !ar#et research on demand can inform decisions about whether to enter the mar#et$ what type of product to introduce$ and what mar#et segments to target. %nce a general product concept has been identified$ mar#et research can help to identify specific product attributes that match the needs$ preferences$ cash flow patterns$ and other capacities of the target mar#et. !ar#et research on actual products can be valuable in addressing issues related to accessibility$ timeliness$ pricing and effectiveness. %nce a product has proven &uccessful in one place$ mar#et research can play a role in assessing its potential for expansion into new mar#ets or new mar#et segments. 'inally$ mar#et research can reveal peoples understanding$ perception$ and trust of insurance$ which is crucial for its upta#e and important for designing client education and mar#eting strategies.

What Topics Should Research Study Address?

(eviewing client satisfaction with existing insurance products is especially important for assessing demand. )uestions about types and amounts of coverage and exclusions reveal not only their satisfaction$ but uncover peoples understanding or misunderstanding of the insurance product. *iscussion of the premium amounts and how they affect other household expenditures expose affordability issues and how these vary across different mar#et segments. Clients experiences with premium collection and claims processes + their ease$ convenience$ timeliness$ and complexity+ can help to improve systems. )uestions

about the benefits of insurance and the differences it has made + can help to understand future demand and the longer term sustainability of microinsurance.

What Quantitative Research Tools Can Be Used?

, variety of qualitative mar#et research tools can be used for research. These include focus group discussions$ involving games$ individual interviews or mini surveys involving potential clients or #ey informants$ and case studies. They also are useful for understanding the seasonal income and expenditures patterns of different mar#et segments$ their wealth levels$ and how this affects the demand for insurance. These tools also have been used to identify product attributes$ ran#ing respondent preferences$ assessing customer satisfaction$ and addressing other qualitative research questions.

The Following Steps Can $lan%

uide the !evelop"ent o# the Research

-.*efine the #ey research questions ..Identify the primary and secondary sources of information you will use /.*ecide whether we will use qualitative or quantitative methods or a combination of both to collect the data 0.*etermine and document the criteria for selecting the study participants + location$ characteristics$ and numbers 1.*evelop a plan for analyzing the data 2.&et a time line for the research process 3. ,ssign roles and responsibilities for carrying out the research 4.!a#e logistical arrangements 5.&chedule data collection -6.*esign the data collection tools that we will use and protocol for their use + for example$ discussion and interview guides$ analysis matrices$ 7(, tools$ or mini surveys --.*raft a preliminary report outline -..'igure out the financial and human resources that we will need to carry out the wor#