Anusha NEW PPT

8/8/2019 Anusha NEW PPT

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MARKET SURVEY FOR UNDERSTANDING CUSTOMER BUYING

BEHAVIOR WITH A FOCUS ON MARKET SEGMENTATION AND

TO STUDY THE REASONS OF SALARIED PERSONS TAKING

UP INSURANCE SERVICES

SUPERVISOR PRESENTED BY:

ANMOL SOI ANUSHA KAMRAROLL NO.-09PGDM-A



OBJECTIVE OF STUDYRESEARCH METHODOLOGYINTRODUTION

ADVANTAGES OF LIFE INSURANCELIFE INSURANCE PRODUCTRECOMMENDATIONSLEARNINGS

FINDINGSCONCLUSION

CONTENT



To determine customer-buying behavior with a focus on marketsegmentation for Reliance life Insurance.To determine reasons behind opting for an insurance.To provide the company with information of customer¶s insurancepolicy if they have any and reasons for opting for that particular policies.To known the most preferred policy.To determine customer perception towards private insurancecompanies and their expectation form private insurancecompanies.To determine the feedback on services provided by any other insurance agent.To study the types of benefits provided by insurance services.To determine the use of internet for valuable information anddecision-making process.To know the impact of privatization of insurance sector on public

OBJECTIVE OF STUDY



Research type descriptiveResearch design- rigidSample design- judgmental sampling

Sample size- 100Collection of data-a) Primary source- interviews and questionnaireb) Secondary source- web sites of companies

Analysis of data use of bar charts, tables and diagrams

Research methodology



A promise of compensation forspecific potential future losses

in exchange for a periodicpayment.Insurance is designed to protectthe financial well-being of anindividual, company or otherentity in the case of unexpectedloss.

INT RODUCTION



Financial support.

Tax benefits.

Property .

Loans available.

Transparent.

Flexible.

ADVANTAGES OF LIFE INSURANCE



Reliance Whole Life PlanPensionsReliance golden Years PlanReliance group gratuity policyReliance Money Guarantee PlanReliance child Plan

LIFE INSURANCE PRODUCT



As the people think that insurance is a tool protect their family & a tax savingdevice. They are aware of the fact & realizing its, importance. The companyshould try to expand & build up its infrastructure because there is a largepotential for insurance in India.Since Reliance Life Insurance is competing with several companies policies itshould be easy for them to penetrate into the market and secure a goodposition if they pay greater attention to the service part provided to theircustomer and there by forming a long and trusted relationship.As seen from the survey that at present 70% of the customer are havinginsurance policy out of which 87.5% of the customer are planning for new

investments. So it can be a good potential for the company and they shouldmake an attempt to trap these customers.43% of the customer is even ready to go for insurance .But intend they shouldprovide good products and services. The company should provide goodproducts and services. The company should try to convince these customers

and get them in its favor

RECOMMENDATIONS



First of all it taught me what insurance is all about.In order to get some information of some work done out of somebody it isvery important to highlight his interest in the whole affair.The communication skills were improved a great deal upon.

The exposure to the field, taught how to deal with the difficulties andlimitations of the market.How to identify and understand the needs of the customers.How to interact in the corporate world.Last, but not the least it made me realizes what an opportunity lies ahead of me in this very field of insurance.

L EA RNINGS



55% of the respondents believe that covering future uncertainty is the biggestbenefit of an insurance policy.Whereas, 20% and 25% of them believe that the other benefits are taxdeduction and future investments respectively.Majority of the respondent (37%) found larger risk conversance as the most

attracted feature of the all.75% of the respondents have life insurance policy while 45% have both.81% of the respondents have perception of insurance being a saving tool.And 74% of the respondents have perception of insurance being a tax savingdevice.

But 100% of the respondents are with the view that insurance is a tool toprotect your family.44.5% of the respondents approached the insurance company/agent.Whereas, 55.5% of the respondents were approached by the company/ agent.

SOME FINDINGS



The project Market survey for understanding customer buying behaviorwith a focus on market segmentation and to study the reasons of salariedpersons taking up insurance services for Reliance Life Insurance has beenmainly conceived with a view to have a insight of insurance sector & toprovide the company with essential factors which are looked upon by the

customers as well as buying behavior of the insurance policy.It has been observed that people perception regarding insurance is that it is atool to protect their family, a tax saving device etc. people are focusedtowards the benefits of the insurance & a strong need in felt for having theinsurance. People are in the process of buying policies one after the other

and they do not feel the need of age specification for purchasing insurance.As the private insurance companies are emerging, people are havingpreoccupied thinking that they will provide better products & services.

CONC L USION



THANK YOU.

INSURANCE IS ALL ABOUTSELLING TRUST!

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Anusha NEW PPT