IC 88 MARKETING AND PUBLIC RELATIONS (Year of edition-2001).

Objectives:
Marketing is the function which provides the bread and butter for the insurance industry. This
course is designed to give the student an idea about some of the principles and concepts in
marketing as it applies to the business of insurance.
Contents:
Chapter 1: Introduction to Insurance: What is insurance – how it works – importance of
insurance industry – history of insurance.
Chapter 2: Introduction to marketing: Consumer Focus – Who is a Consumer – What is a Market
– Marketing and Selling – Market Segmentation – Marketing Mix – Market Research – Marketing
Strategies – Marketing Programmes and Activities – Product Life Cycle – Positioning – Branding
- Relationship Marketing – Marketing Management Process.
Chapter 3: Consumer Behaviour: its Complexity - the Buying Process – Perceptions – Strokes –
Dissonance – Reference Groups – Socio Economic Categories – The Insurance Consumer .
Chapter 4: Introduction to Services: Intangibility – Inseparability – Heterogeneity – Perishability
– Ownership – Barriers to entry.
Chapter 5: Quality in Services : Why Quality – What is Quality – Satisfactions vs Expectations –
Levels of Quality – Costs of Quality – Elements of Quality – Quality Gaps – Responsibility for
Quality – Moments of Truth – Error Free – Monitoring Customer Needs and Expectations – Tools
for Quality Control – Handling Complaints.
Chapter 6: Strategies for Insurance Marketing : Product and its Differentiation - Product
Development – Flexible options – Product Image – Product Obsolescence – Boston Matrix –
Pricing – Customer Service – Market Research - Distribution and Distribution Channels – Direct
Marketing – Promotion – PR and Publicity – Merchandising – Personal Selling – People.
Chapter 7: Rural Insurance: Profile of Rural Sector.
Chapter 8: Consumerism and Ethics: Marketing and Consumerism – Dimensions of Social
Responsibility.
Suggested Readings:
1. Customer Driven Services Management-S. Balachandran- Response Books New Delhi.
2. Marketing of Services-Bidi Chand - Rawat Publishers New Delhi.
3. Marketing Management- Kottler P. Prentice Hall.
4. Retail Marketing Management- Pearson Education Ltd.
5. Conference Papers 1990 and 2000- Insurance Institute of India.
6. Services Marketing – South Asia Publishers- Delhi. & Services Marketing- McGraw Hill - New York