Professional Documents
Culture Documents
ADVERTISING IN INSURANCE
SUBMITTED BY
MANASVI SOLANKI
PROJECT GUIDE
MS.SUBHASHINI NAIKAR
SUBMITTED TO
UNIVERSITY OF MUMBAI
RAJASTHANI SAMMELANS
GHANSHYAMDAS SARAF COLLEGE
AFFILIATED TO UNIVERSITY OF MUMBAI
ACCREDITED BY NAAC WITH A GRADE
&
DURGADEVI SARAF JUNIOR COLLEGE
(ARTS & COMMERCE)
S.V.ROAD, MALAD (WEST)
MUMBAI: 400 064
YEAR: 2010-2011
RAJASTHANI SAMMELANS
Ghanshyamdas Saraf College
Affiliated to University of Mumbai
ACCREDITED BY NAAC WITH A GRADE
&
Durgadevi Saraf Junior College (ARTS & COMMERCE)
S.V. Road, Malad (W)
Mumbai: 400 064
CERTIFICATE
I Ms.Subhashini Naikar hereby certify that Ms. Manasvi Solanki. A student of
Ghansyamdas Saraf College of T.Y.B.C.B.I (Semester VI) has completed Project
on Advertising In Insurance in the Academic Year 2010 -2011. This information
submitted is True and Original to the best of my Knowledge.
External Examiner:
Principal
Date:
Project Co-ordinator:
College Seal
Date:
ACKNOWLEDGEMENT
DECLARATION
I Miss Manasvi Solanki A student of Ghanshyamdas Saraf College of Arts and
Commerce, Malad (W) T.Y.B.C.B.I (Semester VI) hereby declare that I have
completed project on Advertising In Insurance in the academic Year 2011
-2012. This information Submitted is true and original to best of my Knowledge.
Date:
Signature of student
INDEX
SR NO.
TOPIC
PG NO.
SUMMARY
CH NO
CHAPTERS
INTRODUCTION-ROLE OF ADVERTISING IN
INSURANCE
2
INSURANCE
CLASSIFICATION OF ADVERTISING
10
AIDA MODEL
20
DAGMAR MODEL
23
IMC MODEL
28
BRAND BUILDING
36
45
50
10
57
RESEARCH FINDINGS
CONCLUSION
QUESTIONNAIRE
BIBLIOGRAPHY
EXECUTIVE SUMMARY
Insurance Marketing is definitely considered as one of the most strenuous jobs for
those involved in the marketing sector.Advertising being a part of the vast
Insurance Marketing process play a very important role as well as in modern
business.
Due to excessive specialization, mass production and competition, advertising has
become an indispensable activity in business. It is growing as a backbone of
modern national and international marketing. Life insurance being one of the
hottest topics in the insurance industry, insurance companies try to pull crowd
towards life insurance, and go for different advertisement innovations and
techniques to attract people.
Insurance advertising companies are employing every new mean to advertise
themselves.
The most obvious but expensive form of advertising being employed by them is
the television. A huge number of people are glued to the television, so insurance
companies target this medium on a prime basis. They build distinct advertisements
that arrest the attraction of the viewers, thus putting a mark on them about the
importance of life insurance and what they have to offer. TV advertisements are
very effective since target audience both see and listen to what is being told at the
same time.
Advertising about insurance in local newspapers is also a very effective way to
advertise and market the agency, since the companies try to build brand name
recognition for themselves. The online version of the Wall Street Journal has over
4.5 million visitors, having a catchy insurance advertisement there will definitely
pull a big crowd. Life insurance companies also understand that local audience and
a family type atmosphere is a great way for advertising insurance business. So,
these firms play their advertisements in movie halls when people are out with their
family to watch a film, typically coming up when viewers are sitting in their seats
waiting for the movie to start.
Insurance companies have adopted different innovative ways of advertising their
brand. Some of them are as follows:
Celebrity Endorsements has been a key favorite in the endorsements for the
financial sector. From Amitabh Bachchan to Sachin Tendulkar and Vijendar
Singh, celebrities have been seen endorsing these financial products time and
again.
A certain section of the Indian market, saturated with celebrity endorsements,
has also brought about an emergence of mascots that create a new personality of
the product with their looks, mnemonics and sounds. Be it ICICI Prudentials
Chintamani or Tata AIGs Sukhi-Dukhi, they all have created immense brand
recall for their respective companies.
Life Insurance companies are also having tie-ups with bollywood films such as
3 Idiots, Paa, Love Aaj Kal, Cheeni Kum, etc in order to create a wider reach
for their advertising campaigns. In fact, Reliance Life Insurance has its tagline
as All is well which is inspired from the film 3 Idiots.
Brand Repositioning strategies are also adopted in order to adopt an eyecatching punch lines and campaigns which will lead to a great brand recall
value
Advertising via the medium of Sports also has been one of the favorites for
advertisers. Be it in-game advertising strategies done by
Bajaj Allianz or
Advergaming and Spoofs through the viral advertising medium has caught great
attention of advertisers and consumers. IDBI Fortis and ICICI Prudential are
great examples of the same.
Online advertisements on popular web portals are also being employed by these
firms. Along with publicizing their brand names, the life insurance companies
also keep reminding people about the importance of getting life insurance
And other advertising strategies such as brand display on shoe-shining
machines, local trains, launching music albums have also been undergone by
various life insurance companies
All these Advertising Innovations which lead to great Advertising Effectiveness
have been dealt with later in the project by discussing the strategies adopted by 12
top Life Insurance companies. The project also discusses about the origination of
advertising in Life Insurance, its current scenario and its effect on the consumers
minds.
Advertising
In
insurance
RESEARCH FINDINGS
The result of the survey will help the company to know about the effectiveness of
various life insurance advertisements and how much advertisement is helpful in
buying decision. The results will also help the company to trace the loop holes and
then take the corrective measures to rectify them.
CONCLUSION
how their firms offers can help you instead of telling how insurance as a whole
can help you.
In concluding part of this project it shows that advertisement is very much
important for any business. A huge amount is paid by companies against
advertisement. There are many ways available to give advertisement on which this
amount is paid this are TV, Newspaper, Radio, Internet etc. The amount spent on
advertisement over four year across the world is shown I table.
At the initial phase of a company it is important that they give emphasis on
corporate advertising because it helps in brand recall. At the later stage company
can go for product class advertisements. Well it is also found that during session
that endorsement of celebrities is helpful in ad recall. But giving advertisement in
any type of media is not the only medium; there are many other ways also like
social service, by way of educating people. Especially for Insurance companies if
they want to capture rural market then they have to approach in different way. In
my opinion rural market can only been captured if we reaches to there heart. And
this can be happen only if we solve there basic problem.
QUESTIONNAIRE
BIBLIOGRAPHY
WEBSITES:
www.wikipedia.com
www.scribd.com
www.ask.com
BOOKS REFERRED :