A STUDY ON THE BRAND AWARENESS WITH SPECIAL REFERENCE TO SBI LIFE INSURANCE POLICIES

Presented By: M.ARUNKUMAR II YEAR MBA

CONTENTS Company profile Review of Literature Objective of study Research Methodology Questionnaire

Company Profile

A JOINT VENTURE BETWEEN

74%
State Bank Group, Indias largest

26%
BNP Paribas Assurance is the

and leading bank, with a network of over 16,000 branches and a loyal customer base of over 10 crore
State Bank is Indias most trusted

insurance arm of BNP Paribas Euro Zones leading Bank.

BNP Paribas Assurance operates

bank, with a 200 year-old history

By far the best Brand Equity and

in 41 countries mainly through the bancassurance and partnership model.

BNP Paribas Assurance is the

brand recall among all banks in India

fourth-leading life insurer in France and the world leader in creditor insurance.

About company
Founded 29th March 2001

Headquarter
MD & CEO

Mumbai
Mr. Mahadev Nagendra Ra Eashwaran Koil Street, Pondicherry-1 S.Sougoumarane.

Pondicherry Branch
Branch Manager

SBI Lifes Accomplishments

Ranked No. 1 among private insurance companies in India. Reported robust profits of ` 276 Cr. Total premium grew by 40% to ` 10,104 Cr. Fortune 500 company, ranked 282 in the world. Rated as the The Most Trusted Private Life Insurer according to a survey conducted by Brand Equity in association with AC Nielsen ORG-MARG and the Economic Times Intelligence Bureau.

Vision & Mission

Vision
To be No. 1 in the private life insurance industry To be highly profitable To always maintain sound solvency margins

Mission
SBI Life Insurances mission is to emerge as the leading company offering a comprehensive range of Life Insurance and pension products at competitive prices, ensuring high standards of customer service and world class operating efficiency

Policies
Retirement / pension plan Child plan Term plan Savings & investment plan Health plan

SWOT Analysis
Strength
No. 1 Private Life Insurance company in India High market share & total market share Good growth rate Banding of product

Weakness
Less branch office Less sales force PSU attitude

Opportunity
Brand Image Huge opportunity to reach out to more people Market potentiality in Rural markets

Threats
Huge competition New entrants New tie-ups of competitors with innovative distribution channels

Market Share

Organizational Structure

ASM

DSM

Sales

Sale Support

Operations

AM and UMs

Executives and Associates

Executives and Associates

Competitors

Review of literature

Brand awareness

Definition "Name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other se llers." - American Marketing Association Meaning Brand awareness refers to customers' ability to recall and recognize the brand under different conditions and link to the brand name, logo and so on to certain associations in memory. It consists of both brand recognition and brand recall.

Objectives of the study

PRIMARY OBJECTIVE To study and analyse the brand awareness of the SBI Life Insurance policies. SECONDARY OBJECTIVES To know how the SBI brand image helps to promote SBI Life Insurance policies. To know effective channel of selling of SBI Life Insurance Company. To find out the brand loyalty of the customers. To know about the level of customer satisfaction. To provide valuable suggestions and recommendations to the SBI Life Insurance Company.

Research Methodology

Research
Research is a process in which the researcher wishes to find out the end result for a given problem and thus the solution helps in future course of action.

Research methodology
The procedure using, which researchers go about their work of describing, explaining and predicting phenomena, is called Methodology.

Sample size= 100 Total Population = Infinte Sample method =

Convenience sampling

Research Type = Descriptive Research Sampling tools =

Percentage method Correlation Chi-Square

Questionnaire

Personal details
1. Age: a)20 & below b)21-30 c)31-40 d)41-50 e)51 above 2. Gender: a)Male b)Female 3. Professional : a)Business b)Profession c)Govt. job d) Pvt.job e)Others 4.Educational qualification: a)S.S.L.C b)HSC c)Diploma d)UG e)PG 5.Income level a) 2 lac b) 2-4 lac c) 4-6 d) 6-8 lac e) More than 8 lac 6.Marital status: a) Single b)Married c)Wdower 7.Family size: a)2 b)3 c)4 d)5 e)6 & Above

8.Number of polices you have a)1 b)2 c)3 d)4 e)5 9.Total sum assured of insurance policies a)Upto 2 lac b)2-4lac c) 4lac & Above 10. Number of policies in each category a)Term Plan b) Endowment Plan c)Money Back d) Whole Life e) ULIP f) No Idea 11. The prime purpose of your life insurance policy a) Life Cover b) Savings c) Tax Benefit 12.Through whom /which channel you brought the life insurance polices a) Agent b)Corporate Agents c)Bancasurance 13. Are you satisfied with the reference of channel of distribution a) Highly Satisfied b) Satisfied c) Neutral d) Moderately Dissatisfied e) Highly Dissatisfied 14.Do you know SBI life insurance company is a venture of State Bank of India? a) Yes b) No

15.Which or Who influence to buy SBI life insurance policies a) SBI brand image b) Agent Adviser c) Friend & Relative d) Self 16. Do you think SBI life is a reliable company ? a) Yes b)No 17.Reason for choosing SBI life insurance as your preferred insurer ? a) Service Quality b) After Sales Service c) Brand Name d) Promotional efforts 19.Your satisfaction level with the SBI life insurance company ? a) Highly Satisfied b) Satisfied c) Neutral d) Moderately Dissatisfied e) Highly dissatisfied 20. Will you prefer SBI life insurance for your future purpose also ? a) Yes b)No

21. Are you satisfied with the service of the agent adviser ? a) Highly Satisfied b) Satisfied c) Neutral d) Moderately Dissatisfied e) Highly Dissatisfied 18. How long are you associated with SBI life insurance? a) 0-2 years b) 2-4 years c) 4-6 years d) 6-8 years e) 8-10 years 22. Are you properly communicator / updated by the company regards your policy ? a) Yes b)No 23. Do you know the performance growth of SBI life company in the past 10 years ? a) Yes b)No 24.Will you recommend SBI life insurance to others ? a) Yes b)No 25. Any suggestion regarding improving the service --------------------------------------------------------------------------------------------------------------------------------------- .