Research Project

o
n
‘Brand building and Awarenes
of
ICICI Prulife’

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Kirana Store
 Objective...!!

Every research is based on some theme or you can say it has some
specific objective on which the researcher gives more importance
and my study is also based upon some objective and these are as
follows.

• To study the organization and its activities related to branding.

• To define what can be done more in order to increase the awareness

and branding.

• To check the awareness among the target audience about the business
of ICICI Prulife.

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 Research Methodology

The study about the branding activities of ICICI Prulife is

an exploratory Study which requires the field work.
Survey is done on the basis of a set of a Questionnaire:
having some close ended and open ended questions.
In order to build an effective questionnaire, it has been
pre-tested on the basis of discussion over the objective of
topic with some of my friends, peer group and some
faculty members.

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 Data Collection &
Interpretation
Note: The survey is done in the Delhi city itself, so the outcomes
might vary when it will be compared with any other part of India.

• The sample size taken is 20.

• The sampling method is random sampling.

• Only the criteria for the selection are they should be above 25 years
and have earning capacity either by business, service or self
employment.

• Data collection through questionnaire has resulted in availability of the

desired information but these were useless until there were analyzed.

• The data collected by questionnaire was analyzed, interpreted with the

help of table, bar chart and pie chart.

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 Findings…

The survey is done as per the given objective, to find out the level of
awareness amongst people, and the factors which influence the mind set
of people in brand building process of the ICICI Prudential. So the outcome
of survey and its interpretation is done through Excel tools as given below.
---Finding is comprised of three parts:
---Question.

---Outcome from survey i.e. data interpretation.

---Analysis of outcome.

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 1. Have you ever heard of ICICI Prudential life
Insurance company?

0.8

0.6
yes
0.4 no

0.2

0
yes no
ANALYSIS:
• Respondents are well informed of the insurance companies including ICICI
Prulife.

• Awareness comes not only due to company’s effort but the respondent’s
interest and education too.

• It shows that selling insurance in city like Delhi is relatively easy in

comparison to those places where people are not aware of the benefits of
insurance.
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 2. Which media has the larger impact on your perception

about ICICI Prulife?

25%

20%
TV
15% NEWSPAPER
Articles/leaflets
10% Agents/Advisors
internet
5% Posters/Hoarding
Peer group
0%
Level of Potential in different Media to influence customer.

ANALYSIS:
• Most people are influenced by the emotional TV Advertisement of the
company.

• Internet & leaflets/Articles are used by intellectual people only i.e. very
less in percentage.

• Direct contact with the company’s Advisors and peer group is also a
potential media for brand building. So services given by agents are also
one important tool to build a great image of company in the minds of
people. Kirana Store
 3. Can you differentiate the advertisement of ICICI prudential
from other insurance company?

60%
50%

40%
YES
30% NO
20% SOMETIMES

10%

0%
Information & Advertisment Asymmetry

ANALYSIS:
• Advertisements shown by the companies are having only one tool to
influence the customer i.e. emotions, with relatively same ground in
emotion.

• So its time to take a benefit of this asymmetry and should put something
different and influencing by differentiating advertisement according to the
different objectives followed by the different categories of target
customers.

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 4. Brand’s service in terms of speed, responsiveness and its
special features such as innovative and uniqueness etc.

40%
35%
30%
25% Best
20% Good
Average
15%
Poor
10%
5%
0%
ComparingOther Companies

ANALYSIS:
• Comparing other insurance companies, the brand Image of ICICI Prulife in
terms of its services is good among respondents.
• Some services like after sales services regarding the information of the
next premium, and timely information regarding policies are the centre of
influence.
• Some respondents consider that new private companies will better serve
in comparison to those which already exist from the last 7-8 years.
• Some consider that insurance companies can not be differentiated on
these grounds because they all are practicing the same.
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 5. Brand superiority in the presence of LIC and
other insurance companies.

70%
60%
50%
1st ranking
40%
2ndranking
30% 3rdranking
20% 4thranking
10%
0%
ICICI Pru's rankacc to different respondents
ANALYSIS:
• Some respondent are much satisfied with the ICICI Pru’s products and
customer services so they have given the first rank to the company.
• Some respondents consider that the Government company and private
company can not compared because somehow and somewhere
government companies are more trustable and reliable than a private
company, so they have given second priority to ICICI Prudential.
• Some respondents are loyal some other private companies, it was their
personal prejudices, so they have evaluated ICICI Pru as 3rd or 4th.
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 6. How much do you like and feel the look, logo, punch lines,
colors and other aspect of design in Advertisement of
ICICI Pru Brand.

40%
35%
30%
25% Heart Touching
20% Attractive
Differentiable
15%
Common
10%
5%
0%
Combined impact of Design, Punchline, Logo, Color etc.

ANALYSIS:
• Some people might like the colors and design and some might compare
this with the other one, its all about human mind formation and its way of
perception, here the relevance is that every company want to that design
and color which capture the likes of most of them.

• ICICI Pru is having good color combination and the way of presenting it.
People love its logo and punch lines because they can relate all these with
their own life and likes.
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 7. How much do you like to visit the website of ICICI
Prudential for information or any type of query?

70%

60%

50%

40% Always
Whenever needed
30%
Never
20%

10%

0%
Use of internet for Insuarnce related Query & Info .
ANALYSIS:
• In India, people used to call agents or take advice from their peer group
when they needed insurance related information.

• People are less dependent on the internet for such purpose.

• But it is also true that people who have already taken insurance policy,
they are frequent to use insurance companies website for their queries.

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 8. Does ICICI Prudential Brand gives you feeling of warmth,
security & self respect?

60%

50%

40%

30% YES
To some extent
20% NO
10%

0%
Warmth, Security, Self respect, Courteousbuild Brand
Image
ANALYSIS:
• ICICI Prulife has its emotional attachment with the people which builds its
brand Image.

• People use to talk and recommend to others if they will have emotional
attachment & good perception about company.

• Sometimes people think and feel proud when they join themselves with
such a reputed company.
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 9. How loyal you are & likely would you be to recommend
ICICI Prulife to others.

40%
35%
Loyal & Alwaysrecommend
30%
25% SometimesLoyal &
20% recommend
15% Loyal for other company

10% I amnot Loyal for anyone

5%
0%
Loyalty & Recommendation to others

ANALYSIS:
• Loyalty is something which takes a lot of time to come, depending on the
satisfaction limit of Individual customer, 40% of the respondents are the
loyal customer for ICICI Prulife.
• The respondents who are not loyal for anyone can become loyal if they
get the desired service from ICICI Prulife.
• Companies like Baja Allianz, LIC, Kotak Mahindra etc are providing greater
services in order to build a good image in the eyes of customer.

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 Brand logo & ICICI
Prudential
Often, people are only able to get a quick glance at the logo, in those
instances, recognition, not readability, is all that counts. That is why it is
important to integrate recognizable icons, shapes, type fonts, and
colors into a logo’s design.

Here in the ICICI Prudential LOGO colors used are Blue, Red, Orange and
White

•Blue is the most calming and increases

reading attention.
•Red conveys power, and is seductive.
•Orange is often used to make an expensive
item seem less expensive, and is often
associated with thanksgiving.
•White is typically associated with cool, clean,
and fresh.
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Conclusion…

The front runner ICICI Prudential

Being a frontrunner in the life insurance industry, ICICI Prudential has always
performed both the category task, as well as the brand task, with the help of
advertising and public relations (PR). The company’s initial campaigns
addressed various myths and misconceptions about life insurance, seeking to
change customer attitudes. For instance, life insurance had long been regarded
as expensive, rigid, difficult to understand and good only for tax saving.

The Survey Experience

• The experience for customer interface is really learning and remarkable.
• The different types of responses of the same customer on the same ground,
sometimes creates confusion that what they really wants to express, sometimes
I felt that they are much more expecting from the company like ICICI Prulife that
is why they are arguing in some cases.
• The area used for research work, as I consider is much more educated and
aware in respect, so we might face the reverse condition when we do such work
in rural part of India.

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 Thank You 4
Listening!
Jeete Raho… Pratik
Jain
Manish Kulhari
Kuldeep Sharma
Sachin Kumar
Manvinder Singh

I hope you learned

something! Kirana Store