A

PROJECT SYNOPSIS

ON

Study of Promotional Strategy

of ICICI Prudential Life
Insurance Co. Ltd
BY

SK.AMINUR RAHMAN

REG NO – 420820315

-SPECIALIZATION-MARKETING

NODAL CENTRE: ANNEX COLLEGE OF MANAGEMENT STUDIES

 COVER PAGE

NAME : SK. AMINUR RAHMAN

REGRISTRATION NO : 420820315

NAME OF THE PROGRAMME : 42ND PGDM-MARKETING

ADDRESS OF CORRESPONDENCE : PARIJAT, ULUBERIA, HOWRAH

PIN-711315

Email- aami_008@rediffmail.com

Ph-+919836084345

NAME OF THE PROJECT GUIDE : Mr. DEBRANJAN MUKHERJEE

ASSISTANT REGIONAL MANAGER

TITLE OF THE PROJECT :

Study of Promotional Strategy of ICICI Prudential Life Insurance Co.

Ltd
 DETAILS OF PROJECT GUIDE

NAME : Mr. DEBRANJAN MUKHERJEE

DESIGNATION : ASSISTANT REGIONAL MANAGER

ORGANIZATION : ICICI PRUDENTIAL LIFE INSURANCE

COMPANY LIMITED

ADDRESS : 87/2 SIDESHWARI GARDEN

OPP- HANUMAN MANDIR

DUMDUM, KOLKATA- 74

CONTACT NO : +919830036934

E Mail ID :
debranjan.mukherjee@iciciprulife.com

WORKING EXPERIENCE: 10+ YEARS OF EXPERIENCE

 WORKING TITLE-

Study of Promotional Strategy of ICICI

Prudential Life Insurance Co. Ltd
PURPOSE-To determines if the objectives set for the advertising
campaign were met. This off course presupposes that measurable objectives were
set in the first place. And that these objectives are in line with the overall
marketing objectives and strategies. The first success of any effectiveness research
would be that it forces managers to think clearly and put down on paper, for
themselves and others, what they expect the advertising to do. To quantify the
return on the campaign investment. By knowing what was achieved, management
can relate that information to opportunity cost of money and determine cost
effectiveness of the advertising campaign. Off course this is an ideal situation.
Measurements of advertising results are seldom precise enough to make this
quantification possible.
To use the results of effectiveness research to make changes, additions, or
completely alter course for future campaigns. No advertising campaign is ever
totally successful.
Evaluation of advertising campaign effectiveness is a form of research though it is
Somewhat different from other forms. Most advertising research is used to predict
what might occur in the market place. Effectiveness research, on the other hand is
used to determine exactly what did happen. Although this information might be
used as a basis for future actions, its basic purpose is to measure what occurred as a
result of the advertising campaign and, therefore, what return was received on the
investment made.
AIM-The study then goes on to evaluate and analyze the findings of these
advertisements so as to present a clear picture of media strategy the Insurance
players.

OBJECTIVE-
 To understand & measure the impact of advertising in the market.
 To measure the effectiveness of advertisement / promotional activities for a
particular product class and corporate advertising.
 To understand and measure the affect of advertising in brand-building, brand
recall and finally the choice of a plan while buying it.
 To know the promotional strategies of ICICI prudential.
 To know how they face their competitor’s strategies.
 To know how they survive in the cutthroat competition.
 RESEARCH METHODOLOGY
Research methodology is a strategy that guides a research in providing answers to
research questions and for this, research survey is being done. “Accuracy of the
study depends on the systematic application of the method”. The researcher has to
decide the method to be used that helps him to get a desired direction in a
systematic way. This study in the following manner.
A) Methodology Adopted
Questionnaire Design
The questions were designed in an easily understandable way that the respondents
may not have any difficulty in answering them. The questionnaire also contained a
comments section. This section was included so as to get opinion of the people
regarding the ICICI Prudential Life Insurance.
Random Sampling
Sampling can be defined as a part of population. Thus random sampling may be
defined as the selection of a portion from the whole population in which each
elements of the population has an equal chance of being selected. A more please
definition is that each element in the population has a non-zero and known
probability of selection a randomly drawn sample is an unbiased sample. In this
research survey 50 people were surveyed at random to get the relevant information.
Sample Size: The sampling techniques used in this project are probability sampling
techniques and the methods used in cluster sampling.
Sampling Unit: The respondents who were asked to fill out questionnaires are the
sampling units. These comprise of employees of MNCs, Govt. Employees, and
Self Employed etc.
Sample size: The sample size was restricted to only 50 between age group of 25
-40, which comprised of mainly peoples from different regions of India.
Sampling Area: The area of the research was Kolkata Metro Railway westbengal
India.
B) Data Collection
Structured Questionnaire
In this collection data, structured questionnaire is used as a tool by asking a set of
standardized questions to know the effect of Life Insurance Advertisement and
behavior of the people for the ICICI Prudential Life Insurance.
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 Collection
Various websites were consulted to collect literature relevant to the topic.
Interpretation
Interpretation refers to the task of drawing inference from the colleted facts after an
analytical study; in fact it is a search for broader meaning of research findings it is
through interpretation that the researcher can well understand the abstract principle
that respondents beneath his findings. The simple statistical tools will used to
analyze the data collection, Bar Graphs and pie chart have been used to illustrate
the findings diagrammatically. The scores for advertisement were compiled on
spontaneous recall, aided recall and likeability. The top ads are selected on the
basis of their score.
PROPOSED CONTENT
Introduction
Research Methodology
Literature Review
Analysis
Recommendations
References
Bibliography
Annexure

WORKPLAN
Duration: 2 months
Week 1: Discussion with the Project Guide
Week 2: Literature survey
Week 3, 4, 5, 6: Research work
Week 7 and 8: Report Preparation and Presentation
 QUESTIONNAIRE

PERSONAL PROFILE
Name
Age
Occupation
Contact No.
Q1. Which media you use for information/entertainment?
TV
Radio
Newspaper
Internet
Q2. How often do you share interesting advertising with your family or friends?
Never
Rarely
Sometimes
Often
Very often
Q3. Have you seen any Life Insurance Product Ad?
Yes
No
Q4. On Which channel you watch mostly?
Zee T.V
Sony
Star
News Channel
Q5. If yes can you recall the content of the Ad?
Yes
No

Q6. Based on the features advertised, in that ad…... Rank the following
Strongly
Agree
Somewhat
Agree
Neither Somewhat
Disagree
Strongly
Disagree
The ad message is understandable. The advertisement is believable. The ad's
message is relevant to me. The benefits described in the ad are believable to me.
After viewing this ad, I would consider purchasing the product. This ad is much
better than other ads for products in this product category.

Q7. Which company ad you find mostly?

LIC India
HDFC Std. Life Insurance Co. Ltd.
Birla Sun Life Insurance Co. Ltd.
ICICI Prudential Life Insurance Co. Ltd.
Reliance Life Insurance Co. Ltd.
Q8. Do you think this ad has influence you to……………….
Buy the insurance policy
Recommend the Insurance Policy
Suggest the insurance Policy would like to inform
Q9.Can you recall if your family members ever tried to influence you to
buy/secure a life insure Policy from the insurance company of her interest?
Yes
No
Q10. Which of the Insurance Policy would you like to buy?
Life Plan
Health Plan
Child Plan
Retirement Plan
Q11. Other than T.V Where you saw Life insurance ad?
Internet
Newspaper
Holdings
Friends/Family
Radio
Q12. Please rank the following Life Insurance Company as per your liking
HDFC Standard Life Insurance
ICICI Prudential Life Insurance
Reliance Life Insurance
Tata AIG Insurance Solutions
Bajaj Allianz