INTRODUCTION

A marketing strategy is a process that can allow an organization to concentrate its (always limited) resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. Marketing strategy as a key part of the general corporate strategy marketing strategy is most effective when it is an integral component of corporate strategy, defining how the organization will engage customers, prospects and competitors in the market arena for success. It is partially derived from broader corporate strategies, corporate missions, and corporate goals. They should flow from the firm's mission statement. They are also influenced by a range of micro environmental factors. Marketing strategy and sectarian tactics and actions: A marketing strategy also serves as the foundation of a marketing plan. A marketing plan contains a set of specific actions required to successfully implement a marketing strategy. For example: "Use a low cost product to attract consumers. Once our organization, via our low cost product, has established a relationship with consumers, our organization will sell additional, higher-margin products and services that enhance the consumer's interaction with the low-cost product or service." A strategy consists of well thought out series of tactics. While it is possible to write a tactical marketing plan without a sound, well-considered strategy, it is not recommended. Without a 6 Sound marketing strategy, a marketing plan has no foundation. Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives. It is important that these objectives have measurable results. A good marketing strategy should integrate an organization's marketing goals, policies, and action sequences (tactics) into a cohesive whole. Many companies cascade a strategy throughout an organization, by creating strategy tactics that then become strategy goals for the next level or group. Each group is expected to take that strategy goal and develop a set of tactics to achieve that goal. This is why it is important to make
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each strategy goal measurable. Marketing strategies are dynamic and interactive. They are partially planned and partially unplanned. See strategy dynamics.

TYPES OF MARKETING STRATEGIES

Every marketing strategy is unique, but if we abstract from the individualizing details, each can be reduced into a generic marketing strategy. There are a number of ways of categorizing these generic strategies. A brief description of the most common categorizing schemes is presented below: Strategies based on market dominance - In this scheme, firms are classified based on their market share or dominance of an industry. Typically there are three types of market dominance strategies: Leader Challenger Follower

Porter generic strategies - strategy on the dimensions of strategic scope and strategic strength Strategic scope refers to the market penetration while strategic strength refers to the firms sustainable competitive advantage. Cost leadership Product differentiation Market segmentation

Innovation strategies - This deals with the firm's rate of the new product development and business model innovation. It asks whether the company is on the cutting edge of technology and business innovation. There are three types:

Pioneers Close followers Late followers

Growth strategies - In this scheme we ask the question, How should the firm grow?. There are a number of different ways of answering that question, but the most common gives four answers: Horizontal integration Vertical integration Diversification Intensification

A more detailed scheme uses the categories: Prospector Analyzer Defender Reactor

INSURANCE NEED
Why is insurance necessary? The question contains the answer within itself. After all, life is fraught with tensions and apprehensions regarding the future and what it holds for the individual. Despite all the planning and preparation one might make, no one can accurately guarantee or predict how or when death might result and the circumstances that might ensue in its aftermath. We are not saying that life and existence are constantly fraught with danger and uncertainty. But then it is essential that you plan for the future. The chances for a fatality or an injury to occur to the average individual may not be particularly high but then no one can really afford to completely disregard his or her future and what it holds. People generally regard insurance as a scheme when and where you have to lose a lot to gain a little. Nevertheless, insurance is still the most reliable tool an individual can use to plan for his future. And just why is it necessary to plan for the future with Insurance?

AN OVERVIEW
Insurance business is divided into four classes: 1) Life Insurance business 2) Fire
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3) Marine 4) Miscellaneous Insurance. Life Insurers transact life insurance business; the rest is transacted by General Insurers. No composites are permitted as per law. The business of Insurance essentially means defraying risks attached to any activity over time (including life) and sharing the risks between various entities, both persons and organizations. Insurance companies (ICs) are important players in financial markets as they collect and invest large amounts of premium. Insurance products are multipurpose and offer the following benefits: 1. Protection to the investors 2. Accumulate savings 3. Channelize savings into sectors needing huge long term Investments.

SECTOR PROFILE
SECTOR PROFILE
Brief History of the Insurance Sector The business of life insurance in India in its existing form started in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta. Some of the important milestones in the life insurance business in India are:

1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business. 1928: The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses.
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1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public 1956: 245 Indian and foreign insurers and provident societies taken over by the central government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of India. The General insurance business in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British. Some of the important milestones in the general insurance business in India are:

1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general insurance business.

1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices.

1968: The Insurance Act amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up.

1972: The General Insurance Business (Nationalization) Act, 1972 nationalized the general insurance business in India with effect from 1st January

1973. 107 insurers amalgamated and grouped into four companies viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. And the United India Insurance Company Ltd. GIC incorporated as a company.
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INSURANCE SECTOR
The opening up of Insurance sector was a part of the ongoing liberalization in the financial sector of India. The changing face of the financial sector and the entry of several companies in the field of life and non life Insurance segment are one of the key results of these liberalization efforts. Insurance business by way of generating premium income adds significantly to be the GDP. Over the past three years, more than thirty companies have expressed interest in doing Business in India The IRDA (Insurance Regulatory Development Authority) is the regulatory authority, which looks over all related aspects of the insurance business. The provisions of the IRDA bill acknowledge many issues related to insurance sector. The IRDA bill provides guidance for three levels of players Insurance Company, Insurance brokers and Insurance agent. Life Insurance sector is one of the key areas where enormous business potential exists. In India currently the life insurance premium as a percentage of GDP is 1.3 % against, 5.2 per cent in the US. General Insurance General Insurance is another segment, which has been growing at a faster pace. But as per the current comparative statistics, the general insurance premium has been lower than life insurance. General Insurance premium as a percentage of GDP was a mere 0.5 'per cent in 1996. In the General Insurance Business, General Insurance Corporation (GIC) and its four subsidiaries viz. New India Insurance, Oriental Insurance, National Insurance and United India Insurance, are doing major business. The General Insurance Industry has been growing at a rate of 19 percent per year. The entry of several private insurance companies, particularly international insurance companies,through joint ventures, will speed up the process of insurance mobilization. The competition will unleash new schemes and benefits, which will
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give consumers a better Chance to save as well as insure. The regulatory system in India is relatively new and takes some more time to make the Insurance sector a perfectly competitive one. Insurance Regulatory Authority of India issued regulations on 15 subjects which included appointed. Actuary, actuarial report, Insurance agents, Solvency margins, reinsurance, registration of Insurers, and obligation of insurers to rural and social sector, investment and accounting procedure. The reform in Insurance in India is guided by factors like availability of a variety of products at a competitive price, improvement in the quality of customer services etc. Also the employment opportunities in the Insurance sector wil1 increase as major players set their business plans in India. The policy of the government to open up the financial sector and the Insurance sector is expected to bring greater FDI inflow into the country. The increase in the investment limit in this vital sector has generated considerable business interests among the foreign Insurance companies" Their entry wil1 certainly change the Insurance sector considerably.

INSURANCE SECTOR REFORMS:

In 1993, Malhotra Committee, headed by former Finance Secretary and RBI Governor R.N. Malhotra was formed to evaluate the Indian insurance industry and recommend its future, direction. The Malhotra committee was set up with the objective of complementing the reforms initiated in the financial sector. In 1994, the committee submitted the report and some of the key recommendations included: Structure: Government stake in the insurance Companies to be brought down to 50%.
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Government should take over the holdings of GlC and its subsidiaries so that these subsidiaries can act as independent corporations.

All the insurance companies should be given greater freedom to operate. Competition: Private Companies with a minimum paid up capital of Rs. 1 bn should be allowed to enter the industry. No Company should deal in both Life and General Insurance through a single entity. Foreign companies may be allowed to enter the industry in collaboration with the domestic companies. Postal General Insurance should be allowed to operate in the rural market. Only one State Level General Insurance Company should be allowed to operate in each state. Regulatory Body: The Insurance Act should be changed. An Insurance Regulatory body should be set up. Controller of Insurance (Currently a part from the Finance Ministry) should be made independent.

INVESTMENT:
1.Mandatory Investments of LIC Life Fund in government securities to be reduced from 75% to 50%. 2. GIC and its subsidiaries are not to hold more than 5% in any company (There current holdings to be brought down to this level over a period of time.) Customer Service:
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LIC should pay interest on delays in payments beyond 30 days. Insurance companies must be encouraged to set up unit linked pension plans. Computerization of operations and updating of technology to be carried out in the insurance industry.

The committee emphasized that in order to improve the customer Services and increase the coverage of the insurance industry should open up to competition. But at the same time, the committee felt the need to exercise caution as any failure on the part of new players could ruin the public confidence in the industry. Hence, it was decided to allow competition in a limited way by stipulating the minimum capital requirement of Rs. 100 crores. The committee felt the need to provide greater autonomy to insurance companies in order to improve.

INSURANCE INDUSTRY: CLASSIFICATION

SOME PLAYERS IN THE INDUSTRY: Life Insurance General Insurance Life Insurance Corporation of India General Insurance Corporation of India.
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1. Oriental Insurance Company Ltd. 2. New India Assurance Company Ltd. 3. National Insurance Company Ltd. 4. United India Insurance Company Ltd.

NEW ENTRANTS

ICICI Prudential Life Insurance Ltd. Bajaj Allianz General Insurance Company Ltd. Tata AIG Life Insurance Corporation Ltd.
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Reliance General Insurance Company Ltd. ING Vysya Life Insurance Corporation Ltd. Tata AIG General Insurance Company Ltd. Om Kotak Mahindra Life Insurance Corporation Ltd. MaxNewYork Life Insurance Ltd Royal Sundaram Alliance Insurance Company Ltd.

MARKET SHARE
In the FY2008 ICICI Lombard and Bajaj Allianz have witnessed aggressive growth bymaking the retail segment their target segment ,aggressive growth strategies and hugedistribution network.The general insurance industry has
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witnessed the entry of many nontraditionalplayers .IRDA has issued a license to the Rajan Raheja Group(RRG) for settingup a general insurance joint veture with Australias QBE Insurance Group.Last two yearshave seen the emergence of special institutions,such as ECGC,Star Health&Allied Insurance ,Appolo DKV and Agriculture Insurance Co. Business mix of Bajaj Allianz Motor insurance has the biggest share in general insurance market and show a high growth over three years. Corporate ex-health shown a low depression in Fy 2006-07 and highdepression in Fy2007-08.Health insurance shows positive trend in all these FYs.

COMPANY PROFILE
BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LIMITED
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Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj FinservLimited (recently demerged from Bajaj Auto Limited) and Allianz SE. Both enjoy a reputationof expertise, stability and strength.Bajaj Allianz General Insurance received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 2nd May, 2001 to conduct General Insurance business(including Health Insurance business) in India. The Company has an authorized and paidup capital of Rs 110 crores. Bajaj Finserv Limited holds 74% and the remaining 26% is heldby Allianz, SE.As on 31st March 2009, Bajaj Allianz General Insurance maintained its premier position inthe industry by achieving growth as well as profitability. The company garnered a premium income of Rs. 2866 crore, achieving a growth of 11 % over the last year. Bajaj Allianz has made a profit before tax of Rs. 149.8 crore and has become the only private insurer to crossthe Rs.100 crore mark in profit before tax in the last three years. The profit after tax was Rs.95crores, which is also the highest by any private insurer.Bajaj Allianz today has a countrywide network connected through the latest technology forquick communication and response in over 200 towns spread across the length and breadth ofthe country. From Surat to Siliguri and Jammu to Thiruvananthapuram, all the offices are interconnected with the Head Office at Pune.

VISION
To be the first choice insurer for customers To be the preferred employer for staff in the insurance industry. To be the number one insurer for creating shareholder value

MISSION
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As a responsible, customer focused market leader, we will strive to understand the insuranceneeds of the consumers and translate it into affordable products that deliver value for money.A Partnership Based on Synergy. Bajaj Allianz General Insurance offers technical excellence in all areas of General and HealthInsurance as well as Risk Management. This partnership successfully combines BajajFinserv's in-depth understanding of the local market and extensive distribution network withthe global experience and technical expertise of the Allianz Group. As a registered IndianInsurance Company and a capital base of Rs. 110 crores, the company is fully licensed tounderwrite all lines of general insurance business including health insurance.

ACHIEVEMENTS
Bajaj Allianz has received "iAAA rating, from ICRA Limited, an associate of Moody'sInvestors Services, for Claims Paying Ability.This rating indicates highest claims payingability and a fundamentally strong position Bajaj Allianz General Insurance has received the prestigious Business Leader in GeneralInsurance, awarded by NDTV Profit Business Leadership Awards 2008. The company wasone of the top three finalists for the year 2007 and 2008 in the General Insurance Company of the Year award by Asia Insurance Review.

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COMPANYS HISTORY
BAJAJ ALLIANZ GENERAL INSURANCE COMPANY: ALLIANZ AG
Allianz group was founded in 1890 and is one of the world's leading insurance companies with over 100 year's experience in insurance and related services. It is also the largest insurer in Europe. Allianz group has multi-local structure and presence in over 70 countries. The key business areas of Allianz group include General Insurance (property, engineering, marine, motor, casualty and miscellaneous), Reinsurance, Risk Management, Life & health insurance, Asset Management and Pension Funds Management. Bajaj Auto Ltd. Bajaj Auto Ltd the flagship company of Bajaj Group was incorporated in 1945 as Bachraj Trading Corporation. Initially it started by assembling two and three wheelers in collaboration with Piaggio of Italy. After the expiry of the Agreement in 1971 the two and three wheelers acquired the brand name of Bajaj. The strength of the company lies in its strong brand image andability to offer value for money products leveraging on its large-scale operations. The Joint Venture Bajaj Allianz General Insurance a joint venture non-life company promoted jointly by Bajaj Auto and German insurer- Allianz. Indian auto major holds 74% while Allianz holds 26% in the Joint Venture, and has an authorized and paid up capital of Rs. ll0 crores. Mr. Graham Norris is theCEO of the company. Bajaj Allianz General Insurance will leverage the customer base andexpertise of Bajaj Auto Ltd and Allianz.
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PRODUCT RANGE OF COMPANY/INDUSTRY

Bajaj Allianz General Insurance Products Personal Accident Hospital Cash Daily Allowance Policy Health Guard Critical Illness Burglary Insurance Householders Insurance Travel Companion Fidelity Guarantee Policy Office package Money Insurance Public Liability

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Plate Glass Insurance Consequential Loss (Fire) Insurance Policy

PERFORMANCE OF THE COMPANY OVER THE LAST FEW YEARS Despite conditions which were not conducive for growth of gross premium, the companymanaged to maintain a growth rate which was more than twice that of the market. The companys gross written premium (excluding share of premium from the IMTPIP), grew by 33.3% during 2007-08 and, despite intense price competition, company maintained its second position among the private sector companies in terms of gross written premium. The market share of company (excluding premium of specialized insurers) increased from 7.2% in 2006-07 to 8.5% in 2007-08. Including the share of inward reinsurance business from the IMTPIP, the growth rate would have been 43.0%. During 2007-08, company clocked gross written premium of Rs. 24,045 Mn excluding share of business from the IMTPIP as compared to Rs 18,033 Mn in 2006-07. Including share of inward business from the IMTPIP, the gross written premium amounted to Rs. 25,780 Mn. On account of companys policy of steadily increasing its retention in line with its capital base, the net earned premium for the year (excluding net premium from inward business of the IMTPIP), rose to Rs. 13,266 Mn, an increase of 58.6% over the previous year of Rs. 8,366 Mn. Including the net premium arising out of the share of business from the MTPIP, the net premium for the year 2007-08 was Rs. 14,134 Mn. Although de-tariffication had an adverse effect on the price per policy, the number of policies sold continued to grow. In the year under review, company sold 6.61 Mn. policies as against 4.90 Mn. policies sold in the previous year. This growth indicates that despite severe price competition, more customers preferred companys service offerings, drawn
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by its strong brand image, convenience of buying and satisfaction with its service levels. The total incurred claims for the current year including actuarial provisions but excluding share of claims of the IMTPIP, were Rs. 8,375 Mn. as against Rs. 5555 Mn. in the previous year. The number of claims reported during the year was 413,281 as compared to 309,160 in the previous year.

As on 31st March 2008, Bajaj Allianz General Insurance maintained its premier position in the industry by garnering a premium income of Rs. 2578 crore, achieving a growth of 43 % over the last year.Bajaj Allianz has made a profit before taxes of Rs. 167 crore and is the first company to cross the Rs.100 crores mark in profit after tax by generating Rs. 105 crores. In the first quarter of 200809, the company garnered a gross premium of Rs.733.53 crores against Rs.573.73 core last year for the same period registering a growth of 28%. Bajaj Allianz today has a countrywide network connected through the latest technology for quick communication and response in over 200 towns spread across the length and breadth of the country. From Surat to Siliguri and Jammu to Thiruvananthapuram, all the offices are interconnected with the Head Office at Pune.

FINANCIAL STATUS OF THE ORGANIZATION Figure shows profit after taxes in Rs.(In Millions) The company has earned a Profit Before Tax of Rs. 1,679 Mn for the year ended 31st March 2008, an increase of 43.5% over the previous year profit of Rs. 1,170 Mn. The Profit Before Tax includes a provision of Rs. 361 Mn towards provisions
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for losses from the IMTPIP. The net profit for the year, after provisions for reported losses from the IMTPIP, was Rs. 1,056 Mn as against Rs. 754 Mn reported in 2006-07, which is an increase of 40.0%. In a year when prices of insurance fell significantly, increasing its profitability whilst improving the market share has been a significant achievement for your Company. It is a matter of pride for Bajaj Allianz that it has become the benchmark for other companies in the market in so far as underwriting profitability and return on equity are concerned. The Earnings per share (EPS) for the year ended 31st March 2008 was Rs. 9.59/- (compared to Rs. 6.85/- for the previous year) and the book value of equity shares on 31st March 2008 was Rs. 52.15/- per share (as against Rs. 37.40/- per shares as on 31st March 2007).

FUTURE PROSPECTS/PLANS
The Indian general insurance industry detarrification to start a new growth story. Share of motor insurance was 43.1% of the total general insurance premium in April-Dec 2008.Motor insurance is expecting to increase with motor sale, this year, there is a sharp rise in the auto industry (passenger car sales increased at a rate CAGR of 17% during FY08) as income level rise.However last year and the initial months of this year showed a negative trend in sales but as the market is recovering ,auto sales showed a positive trend. Post detarrifictio, in January 07 ,drop in motor premiums was expected ,but rise in car sales has helped boost total motor premiums.Recent hike of 70-150% in loss making motor third party liability segment will help reduce losses.Its very important time for Bajaj Allianz to formulate new plans strategies and to capture more marketing share.

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OBJECTIVES OF THE STUDY

OBJECTIVES OF THE STUDY

To study the sales Strategy of field force of Bajaj Allianz General Insurance. To study the process of selling of Insurance Policies by Advisors.

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RESEARCH METHODOLOGY
RESEARCH METHODOLOGY
Research methodology is a way to systematically solve the research problem. Research methodology constitutes of research methods, selection criterion of research methods, used in context of research study and explanation of using of a particular method or technique so that research results are capable of being evaluated either by researcher himself or by others.

Why a research study has been undertaken? how the research problem has been formulated?
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why data have been collected and what particular technique of analyzing data has been used and a best of similar other question are usually answered when we talk of Research methodology concerning a research problem or study?

The main aim of research is to find out the truth which is hidden and which has not been discovered as yet.

AREA OF STUDY
The area of the study related with getting correct information of generalinsurance policies of different peoples in the region of Ghaziabad.

SAMPLE DESIGN
A sample design is a definite plan for obtaining a sample from a given population. It refers to the techniques or the procedure the researcher would adopt in selecting items for the sample. Sample design may as well be drawn from the population to be included in the sample i.e. the size of the sample. Sample design is determined before data are collected. During my study I have taken 50 insurance care consultants as the size of sample.

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TOOLS USED
To know the response, I have used the questionnaire method. If one wish to find what insurance care consultants think or know, the logical procedure is to ask them. This has led marketing researchers to use the questionnaire technique for collecting data more than any other method. In this method questionnaire were distributed to the respondents and they were asked to answer the questions in the questionnaire. The questionnaire were structured non disguised questionnaire because the question which the questionnaire contained, were arranged in a specific order besides every question asked were logical for the study, noquestion can be termed as irrelevant. The questionnaire was non-disguised because the questionnaire was constructed so that the objective is clear to the respondent. The respondents were aware of the objective. They knew why they were asked to fill the questionnaire. With the help of following techniques, which are using by Bajaj Allianz I analyse that the how techniques of sales promotion are useful.

DATA COLLECTION
PRIMARY DATA SOURCES
Through interaction with insurance care consultant Through questionnaires filled from the insurance care consultant.

SECONDARY DATA SOURCES

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Through internet, various official sites of the companies. Through pamphlets and brochures of the companies. Journals & Magazine

LIMITATIONS OF THE STUDY

Following limitations were faced during the study: 1. While designing the questionnaire it was kept in mind to gather more and more information from each target person. For the neither present nor descriptive questions could have served the purpose. Therefore the questionnaire contained in the open-ended questions.
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2. The study was conducted in Bajaj Allianz in Ghaziabad city, which has 127 to 170 insurance care consultants only. The sample size was of 50 insurance care consultants only so that accuracy of data so collected could be absurd covered by circulation of questionnaire. 3. The accuracy of indications given by the respondents may not be consider adequate as whether the language used in the questionnaire is understood by the respondent cannot be taken for granted. 4. The study is based on the information gathered from the insurance care consultants. Therefore in such case it is possible that the information supplied might be biased because the insurance care consultant might have shown partiality towards their insurance policies. 5. Since the survey was limited to 50 insurance care consultants it is rather difficult to give a precise conclusion but I have tried to the best of my capability to give the conclusion on a comprehensive manner.

DATA ANALYSIS & INTERPRETATION DATA ANALYSIS

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(BASED ON SURVEY CONDUCTED FOR 50 INSURANCE CARE CONSULTANTS)

Q.1 Which technique of sales promotion you prefer? Options Response in % Display 40% Door to Door Demo 14% Exhibition 16% Catalogue 20% Price Off 10%

Interpretation: According to the study 40% insurance care consultants prefer display technique,20%insurance care consultants prefer catalogues, 16% to the exhibition, 14% to the door to door demo and 10% insurance care consultants prefer price off technique.

Q.2 Which technique is giving good response from customers? Options Response in % Display 18% Door to Door Demo 36%
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Exhibition 18% Catalogue 16% Price Off 12%

Interpretation: According to the study 36% insurance care consultants say door to door demo techniques giving good response, 18% insurance care consultants say to the display & exhibition,16% to the catalogues & 12% say to the price off technique.

Q.3 Which technique is economically beneficial? Options Response in % Display 10% Door to Door Demo 22% Exhibition 10% Catalogue 46% Price Off 12%

Interpretation:
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According to the 46% insurance care consultants, catalogue technique is economically beneficial. 22% to the door-to-door demo and 12% insurance care consultants prefer price off technique.10% to the exhibition & display technique.

Q.4 Which technique requires less time in sales promotion? Options Response in % Display 22% Door to Door Demo 38% Exhibition 10% Catalogue 16% Price Off 14%

Interpretation: According to the study 38% insurance care consultants say display technique requiresless time in sales promotion. 22% to the display technique, 16% insurance careconsultants vote to the catalogues, 14% insurance care consultants vote to the 10% to the exhibition.

Q5 Which technique is easily manageable? Options Response in % Display 18%

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Door to Door Demo 30% Exhibition 10% Catalogue 34% Price Off 8%

Interpretation: According to the study 34% insurance care consultants say that the catalogues is easily manageable, 30% to the door to door demo,18% insurance care consultants prefer display technique 10% to the exhibition, and 8% insurance care consultants say to the price off technique.

Q.6 Which technique requires less knowledge to execute? Options Response in %

Display 14% Door to Door Demo 12% Exhibition 12% Catalogue 22% Price Off 40%

Interpretation: According to the study 40% insurance care consultants vote to the price off technique is require less knowledge to execute.22% insurance care consultants prefer catalogues, 14% to the display and 12% to the exhibition & door to door.
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Q.7 Which technique requires more knowledge to execute? Options Response in % Display 20% Door to Door Demo 42% Exhibition 24% Catalogue 10% Price Off 4%

Interpretation: According to the study 42% insurance care consultants vote to the door-to-door technique that it requires more knowledge to execute than others. 24% to the exhibition, 20% to the display technique, 10% insurance care consultants give vote to the catalogues and 4% insurance care consultants prefer price off technique.

Q.8 Price off are necessary for sales promotion? Options Responses in %. Yes 46%
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No 40% Cant say 14%

Interpretation: According to the study 46% insurance care consultants say yes that the price off arenecessary for sales promotion. 40% say no and 14% say cant say.

Q.9 Do you think that sales promotion program that is presently undertaken by BajajAllianz. are satisfactory? Options Responses in % Yes 34% No 46% Cant say 20%

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Interpretation : According to the study 46% insurance care consultants say No that the sales promotion program that is presently undertaken by Bajaj Allianz are satisfactorily 36% say Yes and 20% say cant say.

Q.10 Should Bajaj Allianz take up new sales promotion program? Options Responses in % Yes 72% No 22% Cant say 6%

Interpretation : According to the study 72% insurance care consultants say yes installment offers are 22% say no and 6% say cant say.

OBSERVATIONS
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& FINDINGS
OBSERVATIONS & FINDINGS

This sales promotion process was very much satisfying for me not only practically and academically but it also helped me in developing my communication skill and enriched my knowledge also.

I have come to know about the importance of marketing especially with regard to Sales Promotion on the most renowned organization like Bajaj Allianz. Especially because of emergence of many competitor with excellence in services & competitive product. The base of this chapter conclusion is on the data analysis or what we say findings.

I have finding from the insurance care consultants of the Bajaj Allianz. and their insurance policies on my topic.

When the insurance care consultant is asked why they are dealing in this particular insurance policies (product) they mostly stressed on companys image. They also said that all income and age group of customers are attracted towards their product but buyers are mainly from higher and middle-income group.

Insurance care consultants said that their sale is decreased in the last years because of negative trend in market. Insurance care consultants said that the customer are curious in getting insurance policies because they want more discounting on the products and low claim time after any accident.
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CONCLUSION

Insurance companies are recruiting their advisors mainly through personal reference, through advertisement, and through walk in interviews. None of the company is recruiting their advisors through placement agencies.

Those advisors who are recruited through personal references need more training session and company has to put effort to make them active. Most of the companies are giving training session to advisors to make them active. Only one or two companies are providing higher channel position and increasing incentives to make them active.

Insurance companies are deploying their products mostly based on customer needs and demands. Insurance companies are not doing enough market researches to know the potential of the market.

Most of the insurance companies are differentiating themselves from the competitors by providing better service quality. Some companies differentiating themselves providing better pricing of the product. are

Insurance companies have forgotten their traditional products. Companies are totally concentrating on selling ULIP products.

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RECOMMENDATION

Insurance companies should start recruiting advisors through placement agencies. By practicing this companies will get more capable advisors who can work efficiently.

Insurance companies should also promote the term and endowment insurance products including ULIP products. Because these are basic insurance products. Promote products as life insurance products not an as investment products.

Insurance companies should use on line contacts for customer interaction.

Insurance companies should more focus on advertisement and promotion activities for differentiate from competitors.

Insurance companies should increase incentive for making advisor active

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SUGGESTIONS

SUGGESTIONS
Here are some suggestions, which may help to strengthen the firm further

Many of the insurance care consultants of the Bajaj Allianz. Has the lack of good communication skills and training. So training should be easy.

Bajaj Allianz. Should use new techniques of sales promotion. Customer services should be more comfortable than others. People must be made aware of the benefits of the policies of Bajaj Allianz. The company should give personal attention to each customer. Proper assistance should be provided to the customer at the time of claim settlement.

All the details about the company should be given to the customers.

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Regular advertisement of the company should be given TV and Newspaper.

The company must try to find new markets especially in the rural areas. The company should do frequent analysis of the competitors.

QUESTIONNAIRE

Name : _____________________________________ Address : _____________________________________

Q.1 To which technique of sales promotion you prefer? A) Display C) Exhibition E) Price-off Q.2 which technique is giving good response from customers? A) Display C) Exhibition E) Price-off Q.3 Which technique is economically beneficial? A) Display B) Door to door demonstration
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B) Door to door demonstration D) Catalogue

B) Door to door demonstration D) Catalogue

C) Exhibition E) Price-off

D) Catalogue

Q.4 Which technique requires less time in sales promotion? A) Display C) Exhibition E) Price-off Q.5 Which technique is easily manageable? A) Display C) Exhibition E) Price-off Q.6 Which technique requires less knowledge to execute? A) Display C) Exhibition E) Price-off Q.7 Which technique requires more knowledge to execute? A) Display C) Exhibition E) Price-off Q.8 Price off and installment offers are necessary for sales promotion? B) Door to door demonstration D) Catalogue B) Door to door demonstration D) Catalogue B) Door to door demonstration D) Catalogue B) Door to door demonstration D) Catalogue

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A) Yes C) Cant say

B) No

Q.9 Do you think that sales promotion program that is presently undertaken by Bajaj Allianz. are satisfactory? A) Yes C) Cant say Q.10 Should Bajaj Allianz. take up new sales promotion program? A) Yes C) Cant say B) No B) No

BIBLIOGRAPHY
BOOKS

Kothari C.R., (1999) Research Methodology, Wishwa Prakashan Kotler P. and Armstrong G., (2005) Principles of Marketing New Delhi, Prentice Hall of India Kotler P., (1999)Marketing Management Analysis, Planning, Implementation and Control, New Delhi, Prentice Hall of India

Saxena Rajan, (1999) Marketing Management, Tata McGraw Hill

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