Building a Service Brand

Akshit Kumar
Rituparna Chakraborty
Shivam Goyal
Vishrut Sharma

HDFC Life
Established in 2000 becoming the first private sector life insurance company in
India

Joint venture between HDFC Ltd (72.37 %) and Standard life Ltd (26 %)
Offices across India and Dubai

Case Problem
How to create differentiation?
Campaigns

Highlighting characteristics of self-belief, pride and confidence

Concern for wellbeing of their family
Financial planning for kids
Emotional bonding- targeting youth

Customer segmentation
Primary Audience- males looking for well being of their family in case of their demise

Target segment- Executives and businessmen

Focus area- Needs relevant to different life cycle
Unmarried
Just Married
Purchasing a home
Children and education
Support for old parents

ICICI
ICICI Prudential life launched a low cost online term plan in the Indian
market.
Within a year of launch, it became one of the top selling life plans in the
country.
Existing online products and in-depth customer insight- helped the
company to improve its online product offering.
Easy and hassle free experience for customers in the application process.
Innovative products, aggressive marketing, & online channel enabled the
sale
Celebrity association with Amitabh Bachchan.

Marketing campaign of ICICI Prudential

Security check, icare.
Train, jeene ka license.
Future calculator, jeetey raho.
Smart kid child plan, suraksha zindagi ke har kadam
Retirement- Worlds best job, jeetey raho.

SBI Life
Formed in 2001
A joint venture between SBI Indias largest bank- and BNP paribas
assurance- france s banking and financial services provider.
Leveraged on the network of its branches to sell its insurance
products.
Had yet to launch specific online insurance product.

Marketing campaigns of SBI

scooter, zindagi hai jine ke liye
celebrate life, zindagi hai jine ke liye
heera, celebrate life

Digital marketing Initiatives

To increase the distribution Mix
Establish online channel to generate business
Strengthen Brands equity by increased visibility

HDFC Exploratory study

To understand the brand perception of HDFC and its competitors in
buyers mind
Analysed prospective online insurance buyers for three brands

Result
Similar results for SBI and ICICI Prudential insurances as for HDFC

Analysis
Brand message - If you have strong determination and sound planning (pakka
iraada and pakke plans), you will always fulfil your dreams, be it your personal or
financial goals.
The brand has a strong thematic and philosophical connect in the anthem- Sar
Utha Ke jee which is written by Amole Gupte and Tripathy believes it reflects the
brand positioning as well as its philosophy.
Brand Association:
Firstly, reaching out to a wider, more diverse audience than we do though our traditional
plans;
secondly, creating engagement opportunities by providing content which is fresh and which
the TG has high affinity for and lastly, driving brand message of self-respect through proper
planning and concrete action

Expected Effects through associations: Widen the Brand reach

 Long term Effect - The younger audience, to identify with the brand message of
Sar Utha Ke Jiyo, in the same way that the previous generation did.
Promotional Activities:
TV (News, Sports, Movies), DTH (Tata Sky, Airtel), OOH (Live-media) and Cinemas (Fun, Inox)
with co- branded creatives
Engagement with a younger audience profile by leveraging the content on our other digital
assets like Facebook, Twitter to build engagement with our audience.

The impact of consumer perceptions on brands in the service category.

Addressed the lack of perceived brand differentiation.
Sustained brand associations can be used to build emotional relationships with
consumers.
Different response from buyers and prospects on HDFC Life Insurance online is
committed to serving customers and they are ready to let go of small errors on
the part of the brand

Thank You!