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A PROJECT REPORT ON

A STUDY ON THE SIGNIFICANCE OF OUTDOOR ADVERTISING OF HDFC LIFE

RANIGUNJ, SECUNDRABAD A Project submitted in partial fulfilment for the award of the degree of MASTER OF BUSINESS ADMINISTRATION (SESSION: 2011-13) - MBA 3RD TRIMESTER Under the guidance of: Mrs. Aparna Gaddi Faculty, MBA SUBMITTED BY V.V.S.Avinash Ram 1225111159

Hyderabad Business school GITAM University HYDERABAD Rudraram, Patancheru (M), Medak Dist. - 502 329, A.P. INDIA

DECLARATION

I hereby declare that this Project Report titled _________________________________ submitted by me to the Hyderabad Business School, GITAM University, Hyderabad it is a bonafide work undertaken by me and it is not submitted to any other University or Institution for the award of any degree diploma /certificate or published any time before.

Name and Address of the Student

Signature of the Student

CERTIFICATION

This is to certify that the Project Report title _____________________________________________ submitted in partial fulfilment for the award

of MBA Programme of Hyderabad Business School, GITAM University, Hyderabad, was carried out by ________________________________ under my guidance. This has not been submitted to any other University or Institution for the award of any degree/diploma/certificate.

Name and address of the Guide

Signature of the Guide

ACKNOWLEDGEMENT:

No task is single mans effort. Any job in this world however trivial or tough cannot be accomplished without the assistance of others. There is always a sense of gratitude that one likes it express towards the persons who helped to change an effort in a success. The opportunity to express my gratitude to people who have helped me to accomplish this task. I deem it a proud privilege to extend my greatest sense of gratitude to my trainer MR.ROOP KIRAN REDDY (CHANNEL DEVELOPMENT MANAGER, HDFCLIFE) For the keen interest, inspiring guidance, continuous encouragement, valuable suggestions and constructive criticism throughout the pursuance of this report. I take this opportunity to thank MR.VENU MADHAV (REGIONAL MANAGER), MR.NAGA PAWAN (CIRCLE HEAD), MR.VINOD KUMAR (CIRCLE MANAGER) OF HDFC LIFE, RANIGUNJ for their valuable support in helping me to gain this opportunity of being associated with an organization of such esteem. I am thankful to director sir PROF MR.S.S.PRASADA RAO for granting me the permission to undertake the study. I also thank Associate PROF MR.S.SUMANBABU for making this internship happen and also making us a part of HDFC brand. I would like to convey thanks to my project guide Mrs. Aparna Gaddi for ready assistance, keen interest and valuable suggestions. I also thank PROF MR.Y.MANOHAR for taking a lecture how to behave in an organization and perform the internship. Last but not least it would be unfair if I dont extend my gratitude to all my faculties, to my parents and all my friends for their active cooperation which was of great help during the course of my training project.

ABSTRACT

The research is on the basis of A STUDY ON SIGNIFICANCE OF OUTDOOR ADVERTISING OF HDFC LIFE In India now days, competition in every field of business is . very high and companies are trying to attract maximum number of customers. For this, companies are using various modes of advertising and searching for newer ways which effect much more customer. This led to the development of various forms of advertising and outdoor advertising is one of them. PurposeIn these papers, we are trying to study various medium of outdoor advertising and also various other types of advertising and their effect on various customers to understand customers need to attract more and more customers. Method UsedThe primary as well as secondary data for the studies. For primary data, a questionnaire has been prepared and customers having various perceptions were asked to fulfil it. Secondary data is collected from web resources and books. Various statistical tools like graphical method for our research purpose and analysis of data has been used.

Findings-

Various modes of advertising are equally important and outdoor advertising is one of them. It helps in boosting sales and attracting more and more customers and company must focus on outdoor advertising as it can reach more and more number of peoples than other modes of advertising.

TABLE OF CONTENTS:

CONTENTS LIST OF TABLES LIST OF FIGURES 7

PAGE NUMBERS

8 INTRODUCTION INDUSTRY ANALYSIS ORGANIZATION PROFILE DATAANALYSIS AND 9

INTREPRETATION SUMMARY AND 30

CONCLUSION BIBILOGRAPHY APPENDICES 42 FINANCIAL REPORTS

67

CHAPTER-1 INTRODUCTION

It has been wrongly assumed that the advertising function is of recent origin. Evidence suggests that the Romans practiced advertising; but the earliest indication of its use in this country dates back to the middle Ages, when the use of the surname indicated a mans occupation. The next stage in the evolution of advertising was the use of signs as a visual expression of the tradesmans

function and a means of locating the source of goods. This method is still in common use. The seller in primitive times relied upon his loud voice to attract attention and inform consumers of the availability of his services. If there were many competitors, he relied upon his own personal magnetism to attract attention to his merchandise. Often it became necessary for him to resort to persuasion to pinpoint the advantages of his products. Thus, the seller was doing the complete promotion job himself. Development of retail stores, made the traders to be more concerned about attracting business. Informing customers of the availability of supplies was highly important. Some types of outside promotion were necessary. Signs on stores and in prominent places around the city and notices in printed matters were sometimes used. When customers were finally attracted to the store and satisfied with the service at least once, they were still subjected to competitive influences; therefore, the merchants signs and advertisements reminded customers of the continuing availability of his services. Sometimes traders would talk to present and former customers in the streets, or join social organizations in order to have continuing contacts with present and potential customers. As the markets grew larger and the number of customers increased, the importance of attracting them also grew. Increasing reliance was placed on advertising methods of informing about the availability of the products. These advertising methods were more economical in reaching large numbers of consumers.

While these advertising methods were useful for informing and reminding and reminding, they could not do the whole promotional job. They were used only to reach each consumer personally. The merchant still used personal persuasion once the customers were attracted to his store.

The invention of hand press increased the potentialities of advertising. By Shakespeares times, posters had made their appearance, and assumed the function of fostering demand for existing products. Another important event was the emergence of the pamphlet as an advertising medium. The early examples of these pamphlets disclose their sponsorship by companies want to generate goodwill for their activities. The low cost of posters and handbills encouraged a number of publishers to experiment with other methods.

HISTORY OF ADVERTISEMENT
Archaeologists have found evidence of advertising dating back to the 3000s BC, among the Babylonians. One of the first known methods of advertising was the outdoor display. Archaeologists have uncovered many such signs, notably in the ruins of ancient Rome and Pompeii. An outdoor advertisement excavated in Rome offers property for rent, and one found painted on a wall in Pompeii calls the attention of travellers to a tavern situated in another town. In medieval times wordof-mouth praise of products gave rise to a simple but effective form of advertising, the use of socalled town criers. The criers were citizens who read public notices aloud and were also employed by merchants to shout the praises of their wares. Later they became familiar figures on the streets of colonial American settlements. The town criers were forerunners of the modern announcer who delivers radio and television commercials.

Although graphic forms of advertising appeared early in history, printed advertising made little headway until the invention of the movable-type printing press by German printer Johannes

Gutenberg about 1450. This invention made the mass distribution of posters and circulars possible. The first advertisement in English appeared in 1472 in the form of a handbill announcing a prayer book for sale. Two hundred years later, the first newspaper ad was published offering a reward for the return of 12 stolen horses.

In the American colonies, the Boston News-Letter, the first regularly published newspaper in America, began carrying ads in1704, and about 25 years later Benjamin Franklin made ads more readable by using large headlines. In the United States, the advertising profession began in Philadelphia, Pennsylvania, in1841 when Volney B. Palmer set up shop as an advertising agent, the forerunner of the advertising agency. Agents contracted with newspapers for large amounts of advertising space at discount rates and then resold the space to advertisers at a higher rate. The ads themselves were created by the advertisers. In 1869 Francis Ayer bought out Palmer and founded N. W. Ayer & an eye-catching sign painted on the wall of a building

Advertising agencies initially focused on print. But the introduction of radio created a new opportunity and by the end of the 1920s, advertising had established itself in radio to such an extent that advertisers were producing many of their own programs. The early 1930s ushered in dozens of radio dramatic series that were known as soap operas because they were sponsored by soap companies. Television had been introduced in 1940, but because of the high cost of TV sets and the lack of programming, it was not immediately embraced. As the American economy soared in the1950s, so did the sale of TV sets and the advertising that paid for the popular new shows.

Soon TV far surpassed radio as an advertising medium. The tone of the advertising was also changing. No longer did advertising simply present the product benefit. Instead it began to create a product image. Bill Bernbach, founder of DoyleDane Bernbach in New York City; Leo Burnett, founder of the Leo Burnett agency in Chicago, Illinois; and David Ogilvy, founder of Ogilvy & Mather in New York City, all came to prominence in the late 1950s and 1960s and led what has been called the 'creative revolution.'Bernbach's agency captured the spirit of the new age. Bernbach believed that advertising had to be creative and artistic or it would bore people. He also believed that good advertising began with respect for the public's intelligence. The ads his agency created were understated, sophisticated, and witty. For example, when Bernbach's agency picked up the account for the Henry S. Levy Bakery in Brooklyn, a borough of New York City, the agency created an ad that entertained New Yorkers and provided fodder for many conversations. The ad showed a Native American eating a slice of the bakery's rye bread with the headline, 'You don't have to be Jewish to love Levy's.'But it was the advertising for Volkswagen that made the agency's reputation.

At a time when American cars were getting bigger and bigger and the advertising for them trumpeted that bigger was better, Doyle Dane Bernbach created a magazine ad that showed small picture of the Volkswagen Beetle surrounded by a sea of white space with the headline, think small.' An equally unconventional ad carried the headline 'lemon' beneath a photo of an apparently flawed Volkswagen. The ad's copy explained that 'this Volkswagen missed the boat. The chrome strip on the glove compartment is blemished and must be replacedWe pluck the lemons; you get the plums.' In an era of hype and bombast, the Volkswagen ads stood out because they admitted failure in a witty way and gave facts in a believable manner that underlined the car's strengths.

This wit together with a conversational and believable style was a hallmark of the advertising created by Doyle Dane Bernbach and that style became highlyinfluential.The creative foundation established by Bernbach and others has been critical to the success of contemporary advertising. The introduction of the TV remote control and access to hundreds of cable channels means that today advertising must interest and entertain consumers or else they will simply use the remote to change the channel. New digital devices even threaten to make it possible to edit out commercials. The development of interactive television, combining the functions of a computer with access to highspeed transmission over cable lines or opticalfibers, will likely enable consumers to select from a vast video library. Consumers will be able to determine not only when they watch something, but also, to a greater extent than ever before, what they will watch. Some industry observers believe that as consumers gain greater control over their viewing activities, they will find it easier to avoid advertising.

DEFINITION OF ADVERTISING
The word advertising originates from a Latin word advertise, which means to turn to. The dictionary meaning of the term is to give public notice or to announce publicly. Advertising may be defined as the process of buying sponsor-identified media space or time in order to promote a product or an idea. The American Marketing Association, Chicago, has defined advertising as any form of non- personal presentation or promotion of ideas, goods or services, by an identified sponsor.

What Advertisement Is?


Advertisement is a mass communicating of information intended to persuade buyers to by products with a view to maximizing a companys profits.

The elements of advertising are:


(i) (ii) (iii) It is a mass communication reaching a large group of consumers. It makes mass production possible. It is non-personal communication, for it is not delivered by an actual person, nor is it

addressed to a specific person. (iv) It is a commercial communication because it is used to help assure the advertiser of a

long business life with profitable sales. (v) Advertising can be economical, for it reaches large groups of people. This keeps

the cost per message low. (vi) The communication is speedy, permitting an advertiser to speak to millions of

buyers in a matter of a few hours. (vii) Advertising is identified communication. The advertiser signs his name to his

advertisement for the purpose of publicizing his identity.

What is Included in Advertising?


(i) The information in an advertisement should benefit the buyers. It should give them

a more satisfactory expenditure of their rupees. (ii) It should suggest better solutions to their problems.

(iii) medium. (iv)

The content of the advertisement is within the control of the advertiser, not the

Advertising without persuasion is ineffective. The advertisement that fails to

influence anyone, either immediately or in the future is a waste of money. (v) The function of advertising is to increase the profitable sales volume. That is,

advertising expenses should not increase disproportionately.

IMPORTANCE OF ADVERTISING:

Generally, advertising is a relatively low-cost method of conveying selling messages to numerous prospective customers. It can secure leads for salesmen and middlemen by convincing readers to request more information and by identifying outlets handling the product. It can force middlemen to stock the product by building consumer interest. It can help train dealers salesmen in product uses and applications. It can build dealer and consumer confidence in the company and its products by building familiarity.

Advertising is to stimulate market demand


While sometimes advertising alone may succeed in achieving buyer acceptance, preference, or even demand for the product, it is seldom solely relied upon. Advertising is efficiently used with at least one other sales method, such as personal selling or point-of-purchase display, to directly move customers to buying action. Advertising has become increasingly important to business enterprises both large and small. Outlay on advertising certainly is the

voucher. Non-business enterprises have also recognized the importance of advertising. The attempt by army recruitment is bases on a substantial advertising campaign, stressing the advantages of a military career. The health department popularizes family planning through advertising Labour organizations have also used advertising to make their viewpoints known to the public at large. Advertising assumes real economic importance too. Advertising strategies that increase the number of units sold stimulate economies in the production process. The production cost per unit of output is lowered. It in turn leads to lower prices. Lower consumer prices then allow these products to become available to more people. Similarly, the price of newspapers, professional sports, radio and TV programmes, and the like might be prohibitive without advertising.

In short, advertising pays for many of the enjoyable entertainment and educational aspects of contemporary life. Advertising has become an important factor in the campaigns to achieve such societal-oriented objectives such as the discontinuance of smoking, family planning, physical fitness, and the elimination of drug abuse. Though in India, advertising was accepted as a potent and recognized means of promotion only 25 years ago, its growing productive capacity and output necessitates the finding of consumers and advertising plays an important role in this process.

Advertising helps to increase mass marketing while helping the consumer to choose from amongst the variety of products offered for his selection. In India, advertising as a profession is in its infancy. Because of this fact, there is a tremendous scope for development so that it may be productively used for the benefit of producers, traders, consumers, and the countrys economy.

OUTDOOR ADVERTISING
Any advertising done outdoors that publicizes your business's products and services. Outdoor advertising includes various types of promotional displays, from highway billboards to transit posters and arena placement, all geared towards communicating a message to the public. The message might be to buy a product, take a trip, vote for a politician, or give to a charity. It might even be a public service announcement. According to the Outdoor Advertising Association of America, Inc. (OAAA), businesses spent $5.8 billion dollars on outdoor advertising in 2004, a figure expected to rise again in 2005.

KINDS OF OUTDOOR ADVTERTISING:


1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. BILL BOARDS MOBILE VANS WALLS HOARDRINGS AUTO PANEL TRAINS BUS STOPS METRO STATIONS TAXIS OUTDOOR ACTIVITES BUSES

KINDS OF OUTDOOR ADVTERTISING OPTED BY HDFC LIFE:-

BILL BOARDS

OUTDOOR AVTIVITES

MOBILE VANS

BUS STOPS

BUSES

HOARDRINGS

FACTORS AFFECTING OUTDOOR ADVERTISING

1. Modern urban lifestyles 2. Technological advancements 3. Boom in the real estate and infrastructure a) Malls b) Buildings c) Flyovers d) Toll roads e) Metro trains

4. Rise in consumerism a) Consumer awareness b) Purchase options c) Buying power

5. Growth in rural markets 6. Saturation of other medias

IMPORTANCE OF MEASURING THE EFFECTIVENESS OF OUTDOOR ADVERTISING

(1) It acts as a Safety measure


Testing effectiveness of advertising helps in finding out ineffective advertisement and advertising campaigns. It facilitates timely adjustments in advertising to make advertising consumer oriented and result oriented. Thus waste of money in faulty advertising can be avoided.

(2) Provides feedback for remedial measures

Testing effectiveness of advertising provides useful information to the advertisers to take remedial steps against ineffective advertisements.

(3) Avoids possible failure


Advertisers are not sure of results of advertising from a particular advertising campaign. Evaluating advertising effectives helps in estimating the results in order to avoid complete loss.

(4) To justify the Investment in Advertising


The expenditure on advertisement is considered to be an investment. The investment in advertising is a marketing investment and its objectives should be spelt out clearly indicating the results expected from the campaign. The rate and size of return should be determined in advance. If the expected rate of return is achieved in terms of additional profits, the advertisement can be considered as effective one.

(5) To know the communication Effect


The effectiveness of the advertisement can be measured in terms of their communication effects on the target consumers or audience. The main purpose of advertising is communicated the general public, and existing and prospective consumers, various information about the product and the company. It is therefore desirable to seek post measurements of advertising in order to determine whether advertisement have been seen or heard or in other words whether they have communicated the theme, message or appeal of the advertising.

(6) Compare two markets


Under this procedure, advertising is published in test markets and results are contrasted with other. Markets so called control markets which have had the regular advertising program.

The measurements made to determine results may be measurements of change in sales, change in consumer attitudes, changes in dealer display and so on depending upon the objectives sought by the advertiser.

IMPACT OF OUTDOOR ADVERTISEMENT


Outdoor Advertising has an important effect on a countrys economy, society, culture, and political system. This is especially true in the United States where the advertising industry plays such a prominent role.

1. Economic Impact
Most economists believe that Outdoor advertising has a positive impact on the economy because it stimulates demand for products and services, strengthening the economy by promoting the sale of goods and services. Manufacturers know that advertising can help sell a new product quickly, enabling them to recoup the costs of developing new products. By stimulating the development of new products, advertising helps increase competition. Many economists believe that increased competition leads to lower prices, thereby benefiting consumers and the economy as a whole. These economists also argue that by interesting consumers in purchasing goods, advertising enables manufacturers and others to sell their products in larger quantities. The increased volume of sales enables companies to produce individual units at lower costs and therefore, sell them at a lower price. Advertising thus benefits consumers by helping lower prices. Other economists, however, believe that advertising is wasteful. They argue that the cost of advertising adds to the cost of goods and that most advertising simply encourages consumers to buy one brand rather than another. According to this view, advertising simply

moves sales from one company to another, rather than increasing sales overall and thereby benefiting the economy as a whole.

2. Social Impact
Outdoor Advertising can have wide-ranging repercussions on a society. Some critics suggest that advertising promotes a materialistic way of life by leading people to believe that happiness is achieved by purchasing products. They argue that advertising creates a consumer culture in which buying exciting new products becomes the foundation of the societys values, pleasures, and goals. Other critics express concern over the way advertising has affected women and racial minority groups. Ads in the 1950s depicted women primarily as decoration or sexobjects. Although millions of women worked outside the home in the 1960s, ads continued to focus on their role as homemakers. Whether owing to the feminist movement or to women's increasing economic power, after the 1960s it became more common to see women depicted in professional roles. However, many ads today still emphasize a womans sexuality. The way advertising has depicted racial minorities has also been harmful. Prior to1960, African Americans were usually shown in a subordinate position. Due to the influence of the civil rights movement, however, advertisers by the 1980s had begun to depict African Americans as students, professionals, or business people. However, many African American organizations and community activists continue to object to the way that alcohol and tobacco companies have seemingly targeted low-income minority communities with a heavy preponderance of outdoor advertising for their products. As ads have begun to more fully reflect the lives of women and African Americans in the United States, increasing attention has been paid to the way in which advertising shows other ethnic groups, including Hispanics, Asians,

Native Americans, and Eastern Europeans. There is still considerable debate over how advertising influences public perception of gender and of particular ethnic groups. Advertising has a major social impact by helping sustain mass communications media and making them relatively inexpensive, if not free, to the public. Newspapers, magazines, radio, and broadcast television all receive their primary income from advertising. Without advertising, many of these forms of mass communication might not exist to the extent that they do today, or they might be considerably more expensive, offer less variety, or even be subject to government control through subsidies. Indepth news programs, a diversity of magazines, and free entertainment might no longer be widely available. At the same time, however, some critics warn that because advertising plays such a major economic role, it may exercise undue influence on the news media and thereby curtail the free flow of information in a free society. Reporters and editors, for example, may be hesitant to develop a news story that criticizes a major advertiser. As a result, society might not be alerted to harmful or potentially harmful conduct by the advertiser. Most members of the news media deny that pressure from an advertiser prevents them from pursuing news stories involving that advertiser, but some members of the media acknowledge that they might not be inclined to investigate an issue aggressively if it threatened to offend a major advertiser. Advertisers may affect media programming in other ways, too, critics charge. For example, companies that sponsor TV programs prefer relatively wholesome, noncontroversial programming to avoid offending a mass audience. This preference causes TV networks to emphasize this type of programming. The result is that society may be denied the benefits of being able to view challenging or highly original entertainment programs or news programs on controversial issues. Because advertisers are especially interested in attracting the 18 to 34 year olds who account for most consumer spending, television shows are often developed with this audience in mind. If the ratings show that a program is not attracting large audiences, particularly among 18 to34 year olds, advertisers often withdraw support, which

causes a program to be cancelled. As a result, shows that are more likely to interest and to be of value to older audiences are not produced. The impact of television on young children has received much attention. Research suggests that children see television advertising as just another form of programming and react uncritically to its messages, which makes them especially vulnerable to advertising.

There is also concern about the way in which adolescent girls respond to advertising that features beautiful, thin models. Research indicates that many adolescent girls are unduly influenced by this standard of beauty, become dissatisfied with their own bodies, and may develop eating disorders in pursuit of a thin figure. New research suggests that adolescent boys are also being influenced by advertising images of bulked-up, buffed bodies. As a result, many become dissatisfied with their own body image, devote large amounts of time to weightlifting, and may even take drugs that have harmful side effects in order to develop more muscle. Those over the age of 60 are thought to be less influenced by advertising, but some elderly people no longer process messages as easily as younger people, making them more susceptible to questionable advertising claims.

3. Political Impact
Outdoor Advertising is now a major component of political campaigns and therefore has a big influence on the democratic process itself. In 1998 more than $467 million was spent on election campaigns in the United States. That amount of spending placed political advertising in the ranks of the countrys 30 leading advertisers that year. Political advertising is a relatively new

development in U.S. history. Advertising professionals did not become involved in electoral campaigns until the 1950s. But since then, political advertising has grown in sophistication and complexity. Political advertising enables candidates to convey their positions on important issues and to acquaint voters with their accomplishments and personalities. Television advertising is especially effective for candidates running for national or state-wide office because it can reach so many people at once. Candidates can also use advertising to respond effectively to the charges of their opponents. Various campaign finance reform proposals, however, have tried to address the impact of television advertising on political campaigning. Because of the high cost of television ads, the costs of political campaigns have skyrocketed, making it necessary for candidates to raise money continually, even after they have been elected to office. Critics say this factor jeopardizes the democratic process by making elected officials beholden to wealthy contributors and by making it more likely that only the wealthy will run for office. Some reform proposals have called for free airtime, but television and radio networks have resisted this idea. Critics of political advertising also charge that the 30-second television spot has become more important to a political campaign than a thorough discussion of the issues. As a result, voters are bombarded with image advertising rather than being acquainted with the candidates positions. They contend that this practice is harmful to good government. Issues are simplified, and candidates are packaged and sold much like a consumer product, thereby distorting the political process.

4. Cultural Impact
Outdoor Advertising can affect cultural values. Some advertising messages, for example, encourage aggressive individualism, which may clash with the traditional cultural values of a country where the collective or group is emphasized over the individual or humility or modesty is

preferred to aggressiveness. With the globalization of the world economy, multinational corporations often use the same advertising to sell to consumers around the world. Some critics argue that advertising messages are thus helping to break down distinct cultural differences and traditional values, causing the world to become increasingly homogeneous. Many advertising campaigns, however, have universal appeal, overriding cultural differences, or they contribute to culture in a positive way. Humour in advertising has made many ad campaigns widely popular, in some cases achieving the status of folklore or taking on new life in another arena. For example, a popular ad campaign for a fast-food chain with the slogan Wheres the beef? became part of the 1980 Democratic presidential primary campaign between Gary Hart and Walter Mondale. The ad ridiculed competitor by depicting a small hamburger patty dwarfed by a huge bun. During a primary debate one of the candidates used the ad slogan to suggest that his opponents campaign lacked substance.

RESEARCH OBJECTIVE

To get to know about the level of significance of outdoor advertising of HDFC Life as an insurance company.

To analyze the impact or influence of outdoor advertising on a consumers buying decision process.

To analyze the findings and suggestion for the study.

RESEARCH METHODOLOGY

Research methodology is a way to systematically solve the research problem. It may be understood as a science of studying how research is done scientifically. The scope of research methodology is wider than that of research methods. When we talk of research methodology we not only talk of research methods but also consider the logic behind the methods we use in the context of our research study and explain why we are using a particular method or technique.

RESEARCH DESIGN:
A research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure.

Research design is the conceptual structure within which research is conducted; it constitutes the blueprint for the collection, measurement and analysis of data.

The type of research design used in the project was Descriptive research, because it helps to describe a particular situation prevailing within a company. Careful design of the descriptive studies was necessary to ensure the complete interpretation of the situation and to ensure minimum bias in the collection of data.

SAMPLING TECHNIQUE

Sampling is the selection of some part of an aggregate or totality on the basis of which a judgment about the aggregate or totality is made. Simple random sampling method was used in this project. Since population was not of a homogenous group, Stratified technique was applied so as to obtain a representative sample. The employees were stratified into a number of subpopulation or strata and sample items (employees) were selected from each stratum on the basis of simple random sampling.

SIZE OF THE SAMPLE:


For a research study to be perfect the sample size selected should be optimal i.e. it should neither be excessively large nor too small. Here the sample size was bounded to 50.

DATA COLLECTION METHOD:


Both the Primary and Secondary data collection method were used in the project. First time collected data are referred to as primary data. In this research the primary data was collected by means of a Structured Questionnaire. The questionnaire consisted of a number of questions in printed form. It had both open-end closed end questions in it. Data which has already gone through the process of analysis or were used by someone else earlier is referred to secondary data. This type of data was collected from the books, journals, company records etc.

TOOLS USED FOR ANALYSIS


Percentage analysis.

Percentage analysis:
One of the simplest methods of analysis is the percentage method. It is one of the traditional statistical tools. Through the use of percentage, the data are reduced in the standard form with the base equal to 100, which facilitates comparison.

The formula used to compute Percentage analysis is,

CHAPTER 2 INDUSTRY ANALYSIS


Insurance sector in India is one of the booming sectors of the economy and is growing at the rate of 15-20 per cent annum. Together with banking services, it contributes to about 7 per cent to the country's GDP. Insurance is a federal subject in India and Insurance industry in India is governed by Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and General Insurance Business (Nationalisation) Act, 1972, Insurance Regulatory and Development Authority (IRDA) Act, 1999 and other related Acts 1818 saw the advent of life insurance business in India with the establishment of the Oriental Life Insurance Company in Calcutta. This Company however failed in 1834. In 1829, the Madras Equitable had begun transacting life insurance business in the Madras Presidency. 1870 saw the enactment of the British Insurance Act and in the last three decades of the nineteenth century, the Bombay Mutual (1871), Oriental (1874) and Empire of India (1897) were started in the Bombay Residency. This era, however, was dominated by foreign insurance offices which did

good business in India, namely Albert Life Assurance, Royal Insurance, Liverpool and London Globe Insurance and the Indian offices were up for hard competition from the foreign companies. In 1914, the Government of India started publishing returns of Insurance Companies in India. The Indian Life Assurance Companies Act, 1912 was the first statutory measure to regulate life business. In 1928, the Indian Insurance Companies Act was enacted to enable the Government to collect statistical information about both life and non-life business transacted in India by Indian and foreign insurers including provident insurance societies. In 1938, with a view to protecting the interest of the Insurance public, the earlier legislation was consolidated and amended by the Insurance Act, 1938 with comprehensive provisions for effective control over the activities of insurers. The Insurance Amendment Act of 1950 abolished Principal Agencies. However, there were a large number of insurance companies and the level of competition was high. There were also allegations of unfair trade practices. The Government of India, therefore, decided to nationalize insurance business. An Ordinance was issued on 19th January, 1956 nationalising the Life Insurance sector and Life Insurance Corporation came into existence in the same year. The LIC absorbed 154 Indian, 16 non-Indian insurers as also 75 provident societies245 Indian and foreign insurers in all. The LIC had monopoly till the late 90s when the Insurance sector was reopened to the private sector. The history of general insurance dates back to the Industrial Revolution in the west and the consequent growth of sea-faring trade and commerce in the 17th century. It came to India as a legacy of British occupation. General Insurance in India has its roots in the establishment of Triton Insurance Company Ltd., in the year 1850 in Calcutta by the British. In 1907, the Indian

Mercantile Insurance Ltd, was set up. This was the first company to transact all classes of general insurance business. 1957 saw the formation of the General Insurance Council, a wing of the Insurance Associaton of India. The General Insurance Council framed a code of conduct for ensuring fair conduct and sound business practices. In 1968, the Insurance Act was amended to regulate investments and set minimum solvency margins. The Tariff Advisory Committee was also set up then. In 1972 with the passing of the General Insurance Business (Nationalisation) Act, general insurance business was nationalized with effect from 1st January, 1973. 107 insurers were amalgamated and grouped into four companies, namely National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd and the United

India Insurance Company Ltd. The General Insurance Corporation of India was incorporated as a company in 1971 and it commence business on January 1sst 1973. This millennium has seen insurance come a full circle in a journey extending to nearly 200 years. The process of re-opening of the sector had begun in the early 1990s and the last decade and more has seen it been opened up substantially. In 1993, the Government set up a committee under the chairmanship of RN Malhotra, former Governor of RBI, to propose recommendations for reforms in the insurance sector. The objective was to complement the reforms initiated in the financial sector. The committee submitted its report in 1994 wherein , among other things, it recommended that the private sector be permitted to enter the insurance industry. They stated that foreign companies be allowed to enter by floating Indian companies, preferably a joint venture with Indian partners. Following the recommendations of the Malhotra Committee report, in 1999, the Insurance Regulatory and Development Authority (IRDA) was constituted as an autonomous body to regulate and develop the insurance industry. The IRDA was incorporated as a statutory body in April, 2000. The key objectives of the IRDA include promotion of competition so as to enhance customer satisfaction through increased consumer choice and lower premiums, while ensuring the financial security of the insurance market. The IRDA opened up the market in August 2000 with the invitation for application for registrations. Foreign companies were allowed ownership of up to 26%. The Authority has the power to frame regulations under Section 114A of the Insurance Act, 1938 and has from 2000 onwards framed various regulations ranging from registration of companies for carrying on insurance business to protection of policyholders interests.

In December, 2000, the subsidiaries of the General Insurance Corporation of India were restructured as independent companies and at the same time GIC was converted into a national reinsurer. Parliament passed a bill de-linking the four subsidiaries from GIC in July, 2002.

Today there are 24 general insurance companies including the ECGC and Agriculture Insurance Corporation of India and 23 life insurance companies operating in the country. Insurance sector in India was liberalized in March 2000 with the passage of the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry restrictions for private players and allowing foreign players to enter the market with some limits on direct foreign ownership. There is a 26 percent equity cap for foreign partners in an insurance company. There is a proposal to increase this limit to 49 percent. The opening up of the insurance sector has led to rapid growth of the sector. Presently, there are 16 life insurance companies and 15 non-life insurance companies in the market. The potential for growth of insurance industry in India is immense as nearly 80 per cent of Indian population is without life insurance cover while health insurance and non-life insurance continues to be well below international standards.

INSURANCE MARKET: PRESENT


For years now, the private players are active in the liberalized environment. The insurance market have witnessed dynamic changes which includes presence of a fairly large number of insurers both life and non-life segment. Most of the private insurance companies have formed joint venture partnering well recognized foreign players across the globe. There are now 29 insurance companies operating in the Indian market 14 private life insurers, nine private non-life insurers and six public sector companies. With many more joint ventures in the offing, the insurance industry in India today stands at a crossroads as competition intensifies and companies prepare survival strategies in a detariffed scenario.

There is pressure from both within the country and outside on the Government to increase the foreign direct investment (FDI) limit from the current 26% to 49%, which would help JV partners to bring in funds for expansion.

There are opportunities in the pensions sector where regulations are being framed. Less than 10 % of Indians above the age of 60 receive pensions. The IRDA has issued the first licence for a standalone health company in the country as many more players wait to enter. The health insurance sector has tremendous growth potential, and as it matures and new players enter, product innovation and enhancement will increase. The deepening of the health database over time will also allow players to develop and price products for larger segments of society. State Insurers Continue To Dominate There may be room for many more players in a large underinsured market like India with a population of over one billion. But the reality is that the intense competition in the last five years has made it difficult for new entrants to keep pace with the leaders and thereby failing to make any impact in the market. Also as the private sector controls over 26.18% of the life insurance market and over 26.53% of the non-life market, the public sector companies still call the shots. The countrys largest life insurer, Life Insurance Corporation of India (LIC), had a share of 74.82% in new business premium income in November 2005. Similarly, the four public-sector non-life insurers New India Assurance, National Insurance, Oriental Insurance and United India Insurance had a combined market share of 73.47% as of October 2005. ICICI Prudential Life Insurance Company continues to lead the private sector with a 7.26% market share in terms of fresh premium, whereas ICICI Lombard General Insurance Company is the leader among the private non-life players with a 8.11% market share. ICICI Lombard has focused on growing the market for general insurance products and increasing penetration within existing customers through product innovation and distribution.

Reaching out to Customers No doubt, the customer profile in the insurance industry is changing with the introduction of large number of divergent intermediaries such as brokers, corporate agents, and bancassurance.

The industry now deals with customers who know what they want and when, and are more demanding in terms of better service and speedier responses. With the industry all set to move to a detariffed regime by 2007, there will be considerable improvement in customer service levels, product innovation and newer standards of underwriting. Intense Competition In a detariffed environment, competition will manifest itself in prices, products, underwriting criteria, innovative sales methods and creditworthiness. Insurance companies will vie with each other to capture market share through better pricing and client segmentation. The battle has so far been fought in the big urban cities, but in the next few years, increased competition will drive insurers to rural and semi-urban markets. Global Standards While the world is eyeing India for growth and expansion, Indian companies are becoming increasingly world class. Take the case of LIC, which has set its sight on becoming a major global player following a Rs280-crore investment from the Indian government. The company now operates in Mauritius, Fiji, the UK, Sri Lanka, Nepal and will soon start operations in Saudi Arabia. The year 2005 was a testing phase for the general insurance industry with a series of catastrophes hitting the Indian sub-continent. However, with robust reinsurance programmes in place, insurers have successfully managed to tide over the crisis without any adverse impact on their balance sheets. With life insurance premiums being just 2.5% of GDP and general insurance premiums being 0.65% of GDP, the opportunities in the Indian market place is immense. The next five

years will be challenging but those that can build scale and market share will survive and prosper.

SOME AREAS OF FUTURE GROWTH: LIFE INSURANCE:


The traditional life insurance business for the LIC has been a little more than a savings policy. Term life (where the insurance company pays a predetermined amount if the policyholder dies within a given time but it pays nothing if the policyholder does not die) has accounted for less than 2% of the insurance premium of the LIC. For the new life insurance companies, term life policies would be the main line of business.

HEALTH INSURANCE:
Health insurance expenditure in India is roughly 6% of GDP, much higher than most other countries with the same level of economic development. Of that, 4.7% is private and the rest is public. What is even more striking is that 4.5% are out of pocket expenditure (Berman, 1996). There has been an almost total failure of the public health care system in India. This creates an opportunity for the new insurance companies. Thus, private insurance companies will be able to sell health insurance to a vast number of families who would like to have health care cover but do not have it.

PENSION:

The pension system in India is in its infancy. There are generally three forms of plans: provident funds, gratuities and pension funds. Most of the pension schemes are confined to government employees (and some large companies). The vast majority of workers are in the informal sector. As a result, most workers do not have any retirement benefits to fall back on after retirement. Total assets of all the pension plans in India amount to less than USD 40 billion.

MARKET SHARE OF INDIAN INSURANCE INDUSTRY:


The introduction of private players in the industry has added value to the industry. The initiatives taken by the private players are very competitive and have given immense competition to the on time monopoly of the market LIC. Since the advent of the private players in the market the industry has seen new and innovative steps taken by the players in this sector. The new players have improved the service quality of the insurance. As a result LIC down the years have seen the declining phase in its career. The market share was distributed among the private players. Though LIC still holds the 55% of the insurance sector but the upcoming natures of these private players are enough to give more competition to LIC in the near future.

MARKET SHARE OF COMPANIES IN FY11

PLAYER MARKET SHARE (%) TABLE:

PLAYER
LIFE INSURANCE CORPORATION OF INDIA ICICI PRUDENTIAL BIRLA SUNLIFE BAJAJ ALLIANZ SBI LIFE INSURANCE HDFC STANTARD TATA AIG MAX NEWYORK AVIVA

MARKET SHARE[%]
54.29 7.32 3.17 3.75 6.05 5.89 1.89 3.42 1.16

KOTAK MAHINDHRA ING VYSYA MET LIFE

1.42 1.26 1.01

India with about 200 million middle class household shows a huge untapped potential for players in the insurance industry. Saturation of markets in many developed economies has made the Indian market even more attractive for global insurance majors. The insurance sector in India has come to a position of very high potential and competitiveness in the market. Indians, have always seen life insurance as a tax saving device, are now suddenly turning to the private sector that are providing them new products and variety for their choice. Consumers remain the most important centre of the insurance sector. After the entry of the foreign players the industry is seeing a lot of competition and thus improvement of the customer service in the industry. Computerisation of operations and updating of technology has become imperative in the current scenario. Foreign players are bringing in international best practices in service through use of latest technologies The insurance agents still remain the main source through which insurance products are sold. The concept is very well established in the country like India but still the increasing use of other sources is imperative. At present the distribution channels that are available in the market are listed below.

Direct selling Corporate agents Group selling Brokers and cooperative societies

Customers have tremendous choice from a large variety of products from pure term (risk) insurance to unit-linked investment products. Customers are offered unbundled products with a variety of benefits as riders from which they can choose. More customers are buying products and services based on their true needs and not just traditional moneyback policies, which is not considered very appropriate for long-term protection and savings. There is lots of saving and investment plans in the market. However, there are still some key new products yet to be introduced - e.g. health products. The rural consumer is now exhibiting an increasing propensity for insurance products. A research conducted exhibited that the rural consumers are willing to dole out anything between Rs 3,500 and Rs 2,900 as premium each year. In the insurance the awareness level for life insurance is the highest in rural India, but the consumers are also aware about motor, accidents and cattle insurance. In a study conducted by MART the results showed that nearly one third said that they had purchased some kind of insurance with the maximum penetration skewed in favour of life insurance. The study also pointed out the private companies have huge task to play in creating awareness and credibility among the rural populace. The perceived benefits of buying a life policy range from security of income bulk return in future, daughter's marriage, children's education and good return on savings.

APPLICATION OF INFORMATION TECHNOLOGY IN INSURANCE SECTOR:


There is a evolutionary change in the technology that has revolutionized the entire insurance sector. Insurance industry is a data-rich industry, and thus, there is a need to use the data for trend analysis and personalization. With increased competition among insurers, service has become a key issue. Moreover, customers are getting increasingly sophisticated and tech-savvy. People today dont want to accept the current value propositions, they want personalized interactions and they look for more and more features and add ones and better service The insurance companies today must meet the need of the hour for more and more personalized approach for handling the customer. Today managing the customer intelligently is very critical for the insurer especially in the very competitive environment. Companies need to apply different set of rules and treatment strategies to different customer segments. However, to personalize interactions, insurers are required to capture customer information in an integrated system. With the explosion of Website and greater access to direct product or policy information, there is a need to developing better techniques to give customers a truly personalized experience. Personalization helps organizations to reach their customers with more impact and to generate new revenue through cross selling and up selling activities. To ensure that the customers are receiving personalized information, many organizations are incorporating knowledge database-repositories of content that typically include a search engine and let the

customers locate the all document and information related to their queries of request for services. Customers can hereby use the knowledge database to manage their products or the company information and invoices, claim records, and histories of the service inquiry. These products also may be able to learn from the customers previous knowledge database and to use their information when determining the relevance to the customers search request

CHAPTER 3 ORGANISATIONAL PROFILE

HDFC Life, one of India's leading private life insurance companies, offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC), India's leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom. HDFC Ltd holds 72.37% and Standard Life (Mauritius Holding) Ltd. holds 26.00% of equity in the joint venture, while the rest is held by others. HDFC Life's product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, Investment and Health. Customers have the added advantage of customizing the plans, by adding optional benefits called riders, at a nominal price. The company currently has 25 retail and 9 group products in its portfolio, along with 10 optional rider benefits catering to the savings, investment, protection and retirement needs of customers. HDFC Life continues to have one of the widest reaches among new insurance companies with about 500 branches in India touching customers in over 900 cities and towns. The company has also established a liaison office in Dubai. HDFC Life has a strong presence in its existing markets with a strong base of Financial Consultants.

HDFC Life is a strong, financially secure business supported by two strong and secure promoters - HDFC Ltd and Standard Life. HDFC Ltd's excellent brand strength emerges from its unrelenting focus on corporate governance, high standards of ethics and clarity of vision. Standard Life is a strong, financially secure business and a market leader in the UK Life & Pensions sector.

ABOUT THE COMPANY: HDFC LIMITED:


HDFC Limited, India's premier housing finance institution has assisted more than 3.8 million families own a home, since its inception in 1977 across 2400 cities and towns through its network of over 298 offices. It has international offices in Dubai, London and Singapore with service associates in Saudi Arabia, Qatar, Kuwait and Oman to assist NRI's and PIO's to own a home back in India. As of March 2011, the total asset size has crossed more than Rs. 1, 32,727crores including the mortgage loan assets of more than Rs.1, 17,126 crores. The corporation has a deposit base of over Rs. 24,625 crores, earning the trust of nearly one million depositors. Customer Service and satisfaction has been the mainstay of the organization. HDFC has set benchmarks for the Indian housing finance industry. Recognition for the service to the sector has come from several national and international entities including the World Bank that has lauded HDFC as a model housing finance company for the developing countries. HDFC has undertaken a lot of consultancies abroad assisting different countries including Egypt, Maldives, Mauritius, and Bangladesh in the setting up of housing finance companies.

A pioneer and leader in housing finance in India, since inception, HDFC has assisted more than 39 Lakh customers to own a home of their own, through cumulative housing loan approvals of over Rs. 3.73 trillion and disbursements of over Rs. 3.02 trillion as at March 31, 2011. HDFC's unrelenting focus on Corporate Governance, high standards of ethics and clarity of vision, percolate through the organization. Trust, Integrity, Transparency and Professional Service are the important pillars of the brand HDFC and most importantly, people - both employees and customers - are its brand ambassadors. HDFC's specialist team of over 1,600 trained and experienced professionals follows a 'single-window concept' for providing smooth and value added services at all stages. The team guides the customers right through the entire process of property purchase - be it property search assistance, technical support prior to finalizing the property, legal advice on property related documentation, personalized home loan counseling or providing tailor-made repayment options to suit the customer's specific requirements. HDFC also has a robust deposits mobilization programme. HDFC has been able to mobilize deposits from over 10 lakh depositors. Outstanding deposits grew from Rs. 1,458 crores in March 1994 to Rs 24,625 crores in March 2011. In addition, HDFC has received 'AAA' rating for its Deposit products for highest safety from both CRISIL and ICRA for seventeen consecutive years.Our brand has managed to set a new standard in the Indian life insurance communication space. We were the first private life insurer to break the ice using the idea of self-respect instead of 'death' to convey our brand proposition

(Sar Utha Ke Jiyo). Today, we are one of the few brands that customers recognize, like and prefer to do business. Moreover, our brand thought, Sar Utha Ke Jiyo, is the most recalled campaign in its category.At HDFC, 'Corporate Social Responsibility' has always been an evolving concept, akin to its 'learning by doing' philosophy. As part of its social objectives, HDFC has always endeavored to contribute to economic development and social upliftment of the weaker sections of society and has professionally nurtured each of its social initiative as an investment. STANTARD LIFE PLC: Established in 1825, Standard Life Plc. is a leading provider of long term

The HDFC Advantage:


Pioneers of Housing Finance in India with over 34 years of lending experience. Vast network of over 304 interconnected offices which includes 3 international offices. processing. Counselling and advisory services for acquiring a property. Most experienced and empowered personnel to ensure smooth & easy

Flexible loan repayment options Free & safe document storage.

Savings and investments to around 6 million customers worldwide. Headquartered in Edinburgh, Standard Life has around 9,000 employees across the UK, Canada, Ireland, Germany, Austria, India, USA, Hong Kong and mainland China. The Standard Life group includes savings and investments businesses, which operate across its UK, Canadian and European markets; corporate pensions and benefits businesses in the UK and Canada; Standard Life Investments, a global investment manager, which manages assets of over 157bn globally; and its Chinese and Indian Joint Venture businesses. At the end of April 2011 the Group had total assets under administration of 198.4bn. Standard Life plc is listed on the London Stock Exchange and has approximately 1.5 million individual shareholders in over 50 countries around the world. In March 2007 the company announced it would cut 1,000 jobs in an attempt to save an additional 100 million per year in costs. One month later it was highlighted in the company's nnual report that three of Standard Life's top executives (Sandy Crombie, Keith Skeoch and Trevor Matthews) were awarded more than 5 million in pay. A Standard Life spokesman defended the awards, citing the leadership's efforts in turning round the company's fortunes.

VISION:
To be most successful and admired life insurance company, which means that we are the most trusted company, the easiest to deal with, offer the best value for money, and set the standards in the industry.

VALUES:
Values that we observe while we work: Integrity Innovation Customer centric People Care "One for all and all for one" Team work Joy and Simplicity

OBJECTIVES:
The ideal way to connect with the core of any company is to understand its background and objectives. We at HDFC aspire to provide our customers with unique solutions and make it easy and simple .

BUSINESS OBJECTIVES:
Our primary objective is to enhance insurance in the country through the provision of insurance in a systematic and professional manner, and to promote insurance ownership. We aim to increase the flow of resources to the insurance sector by integrating the insurance finance sector with the overall domestic financial markets.

OUR GOALS:

Develop close relationships with individual households.

Maintain our position as the premier insurance and finance institution in the country.

Transform ideas into viable and creative solutions. To grow through diversification by gaining leverage from our existing client base.

To nurture the values and ethos of Brand HDFC through all its Subsidiaries and Associate Companies.

OUR GROWTH STRATEGIES:


Increase the return on equity each year by 1 percentage point in order to maximize shareholder value; Maintain gross Non-Performing Assets (NPAs) below 1%; Improve operational efficiency by consistently bringing down the cost to income ratio.

PRODUCT PORTFOLIO:
Protection plans

Childrens plans Retirement plans Saving and Investment plans Health plans

PROTECTION PLANS:
Protection Plans help you shield your family from uncertainties in life due to financial losses in terms of loss of income that may dawn upon them in case of your untimely demise or critical illness. Securing the future of one's family is one of the most important goals of life. Protection Plans go a long way in ensuring your family's financial independence in the event of your unfortunate demise or critical illness.

Types of Protection Plans:


HDFC Term Assurance Plan

HDFC Premium Guarantee Plan

HDFC Loan Cover Term Assurance Plan

HDFC Home Loan Protection Plan*

*[ HDFC Home Loan Protection Plan is available for sale through HDFC Ltd.]

They are all the more important if you are the chief wage earner in your family. No matter how much you have saved or invested over the years, sudden eventualities, such as death or critical illness, always tend to affect your family financially apart from the huge emotional loss.

CHILDRENS PLANS:
Childrens Plans helps you save so that you can fulfill your child's dreams and aspirations. These plans go a long way in securing your child's future by financing the key milestones in their lives even if you are no longer around to oversee them. As a parent, you wish to provide your child with the very best that life offers, the best possible education, marriage and life style. Most of these goals have a price tag attached and unless you plan your finances carefully, you may not be able to provide the required economic support to your child when you need it the most. For example, with the high and rising costs of education, if you are not financially prepared, your child may miss an opportunity of a lifetime.

Conventional Plans:
HDFC Children's Plan

Unit Linked Insurance Plans:


HDFC SL Young Star Super II HDFC SL Young Star Super Premium

RETIREMENT PLANS:
Retirement Plans provide you with financial security so that when your professional income starts to ebb, you can still live with pride without compromising on your living standards. By providing you a tool to accumulate and invest your savings, these plans give you a lump sum on retirement, which is then used to get regular income through an annuity plan. Given the high cost of living and rising inflation, employer pensions alone are not sufficient. Pension planning has therefore become critical today.

Conventional Plans:
HDFC Personal Pension Plan

SAVINGS AND INVESTMENT PLAN:


You have always given your family the very best. And there is no reason why they shouldn't get the very best in the future too. As a judicious family man, your priority is to secure the well-being of those who depend on you. Not just for today, but also in the long term. More importantly, you have to ensure that your family's future expenses are taken care, even if something unfortunate were to happen to you.

TYPE REGULAR Plan

CONVENTIONAL PLANS HDFC SL New Money Back

UNIT LINKED HDFC SL ProGrowth Super II

HDFC Assurance Plan HDFC Savings Assurance Plan HDFC Endowment Assurance Plan SINGLE PREMIUM /INVESTMENT LIMITED PREMIUM Crest HDFC Single Premium Whole of Life Insurance Plan HDFC SL ProGrowth Maximiser HDFC SL

HEALTH PLANS:
Health plans give you the financial security to meet health related contingencies. Due to changing lifestyles, health issues have acquired completely new dimension overtime, becoming more complex in nature. It becomes imperative then to have a health plan in place, which will ensure that no matter how critical your illness is, it does not impact your financial independence.

Type of health plans:

HDFC Critical Care Plan HDFC SurgiCare Plan

MANAGEMENT STRUCTURE:

CEO

Chief financial officer

Alternate channel and group life

Assistant VP Human Resource

Chief Medical officer

VP Group Life

Head client Service

VP Administration, Implementation and control

Chief Manager Alternate channel

Head Training

Chief Manager Finance and control VP Actuarial

VP Information

VP Advertising and Communication

Sr.Manager Underwriting Individual and group Company accountary Sr.Manager Sr.Manager Investment Compliance

Chief Manager Product Development

ORGANIZATION STRUCTURE IN A BRANCH:

BRANCH MANAGER

Business Development Manager

Operational Officer

Sales Development Manager

Agency Support Officers

Financial Consultants

Branch manager is the head of the branch under whom the whole branch office is dealt with. Next to the branch manager is the business development managers of 1 or 2 of them. The

sales development manager falls under business development manager is accountable to branch manager only. Below the business development manager and sales. Development manager are the financial consultants who are not the employees of the company but the agents who give the business. Operational officer and the agency support officers are the staff members employed to maintain the inner transactions and to keep account of all the receipts and payments. Even they are accountable to the branch manager.

BOARD MEMBERS: Brief Profile of the Board of Directors:

Mr. Deepak S. Parekh is the Chairman of the Company. He is also the Chairman and Director of Housing Development Finance Corporation Limited (HDFC Limited). He joined HDFC Limited in a senior management position in 1978. He was inducted as a whole-time director of HDFC Limited in 1985 and was appointed as its Chairman in 1993. Mr. Parekh is a Fellow of the Institute of Chartered Accountants (England & Wales).

Mr. Keki M.Mistry joined the Board of Directors of the Company in December, 2000. He is currently the Vice Chairman and Chief Executive Officer of HDFC Limited. He joined HDFC Limited in 1981 and became an Executive Director in 1993. He was appointed as its Managing Director in 2000. Mr. Mistry is a Fellow of

the Institute of Chartered Accountants of India and a member of the Michigan Association of Certified Public Accountants.

Ms. Renu S. Karnad is the Managing Director of HDFC Limited. She is a graduate in Law and holds a Master's degree in Economics from Delhi University. She has been employed with HDFC Limited since 1978 and was appointed as the Executive Director in 2000 and Deputy Managing Director in 2007. She is responsible for overseeing all aspects of lending operations of HDFC Limited. Mr. David Nish joined Standard Life on 1st November 2006 as Group Finance Director and remained in that position until December 2009. He is the Chief Executive at Standard Life Plc.

Mr. Nathan Parnaby is appointed as the Chief Executive, Europe & Asia of Standard Life in the year 2010. Nathan joined Standard Life in 1982 as Investment Manager, responsible for all UK net funds. He was appointed a Director of the Standard Life Investments board. He is a Mathematics graduate from Oxford University and the Member of the Securities Institute. He joined the Board of Directors in December 2009.

Mr. Norman K. Skeoch is currently the Chief Executive in Standard Life Investments Limited and is responsible for overseeing Investment Process & Chief Executive Officer Function. Prior to this, Mr. Skeoch was working with M/s. James Capel & Co. holding the positions of UK Economist, Chief Economist, Executive Director, Director of Controls and Strategy HSBS Securities and Managing Director International Equities. He was also responsible for Economic and Investment Strategy research produced on a worldwide basis. Mr. Skeoch joined the Board of Directors in November 2005. Mr. Skeoch is a Fellow of the Securities Institute, Fellow of the Royal Institute for the Encouragement of the Arts, Manufacture and Commerce, BA, MA.

Mr. Gautam R. Divan is a practising Chartered Accountant and is a Fellow of the Institute of Chartered Accountants of India. Mr. Divan was the Former Chairman and Managing Committee Member of Midsnell Group International, an International Association of Independent Accounting Firms and has authored several papers of professional interest. Mr. Divan has wide experience in auditing accounts of large public limited companies and nationalised banks, financial and taxation

planning of individuals and limited companies and also has substantial experience in structuring overseas investments to and from India

Mr. Ranjan Pant is a global Management Consultant advising CEO/Boards on Strategy and Change Management. Mr. Pant, until 2002 was a Partner & VicePresident at Bain & Company, Inc., Boston, where he led the worldwide Utility Practice. He was also Director, Corporate Business Development at General Electric headquarters in Fairfield, USA. Mr. Pant has an MBA from The Wharton School and BE (Honours) from Birla Institute of Technology and Sciences.

Mr. Ravi Narain is the Managing Director & CEO of National Stock Exchange of India Limited. Mr. Ravi Narain was a member of the core team to set-up the Securities & Exchange Board of India (SEBI) and is also associated with various committees of SEBI and the Reserve Bank of India (RBI). Mr. Ravi Narain is a Cambridge University-trained Economist and an MBA from Wharton School, University of Pennyslvania, USA.

Mr. A. K.T. Chari has joined HDFC Standard Life as a Director on March 10, 2010. Mr. Chari has completed his Electrical Engineering from Madras

University in 1962. He is associated with Infrastructure Development Finance Company Ltd. (IDFC) for last 11 years. Currently he is handling project finance for infrastructure projects at IDFC. Prior to this he was associated with Infrastructure Development Bank of India (IDBI) from 1975 to 1999.

Dr. S. A. Dave is a Doctorate of economics and holds a Masters degree in economics from the University of Rochester. Dr. Dave is the former chairman of the Securities and Exchange Board of India and the Unit Trust of India. Dr. Dave is currently the chairman of the Centre for Monitoring Indian Economy and a director on the boards of many prominent companies in India. He is appointed as Additional Director of the Company from April 26, 2012.

Mr. Gerald E. Grimstone was appointed Chairman of Standard Life in May 2007, having been Deputy Chairman since March 2006. He became a director of the Standard Life Assurance Company in July 2003. He is also Chairman of Candover Investments plc and was appointed as one of the UKs Business Ambassadors by the Prime Minister in January 2009. Gerry held senior positions within the Department of Health and Social Security and HM Treasury until 1986. He then spent 13 years with Schroders in London, Hong Kong and New York, and was Vice Chairman of Schroders worldwide investment banking activities from 1998 to 1999. He is the Alternate Director to Mr. David

Nish. He has completed Master of Arts, Master of Science in Chemistry, Merton College, Oxford University and NATO-CCMS Fellowship Wolfson College, Oxford University.

Mr. Michael G Connarty is responsible for Standard Life's investments in life assurance Joint Ventures in India and China. He holds a degree in Law and MBA. He has worked with Standard Life for 33 years in managerial positions covering a number of fields such as Pensions law, International Marketing, Operational Management, Strategy, Risk, Compliance, Company Secretarial and Banking. He has acted as Project Manager for the start-up project of the Company in 2000. He is the Alternate Director to Mr. Norman K. Skeoch.

Mr. Amitabh Chaudhry is the MD and CEO of HDFC Standard Life. Before joining HDFC Standard Life, he was the MD and CEO of Infosys BPO and was also heading an Independent Validation Services unit in Infosys Technologies. He started his career with Bank of America delivering diverse roles ranging from Head of Technology Investment Banking for Asia, Regional Finance Head for Wholesale Banking and Global Markets and Chief Finance Officer of Bank of America (India). He moved to Credit Lyonnais Securities in 2001 in Singapore where he headed their investment banking franchise for South East Asia and structured finance practice for Asia before joining Infosys BPO in 2005. Mr. Chaudhry completed his Engineering in 1985 from Birla Institute of Technology and Science, Pilani and MBA in 1987 from IIM, Ahmedabad.

Mr. Paresh Parasnis is the Executive Director and Chief Operating Officer of the company. A fellow of the Institute of Chartered Accountants of India, he has been associated with the HDFC Group since 1984. During his 16-year tenure at HDFC Limited, he was responsible for driving and spearheading several key initiatives. As one of the founding members of HDFC Standard life, Mr. Parasnis has been responsible for setting up branches, driving sales and servicing strategy, leading recruitment, contributing to product launches and performance management system, overseeing new business and claims settlement, customer interactions etc.

MANAGEMENT TEAM:

Ms.Vibha Padalkar is the Chief Financial Officer of HDFC Life. Ms. Padalkar joined HDFC Life in August 2008 after a seven year stint as Executive Vice President-Finance at WNS Global Services; a NYSE listed leading global

business process outsourcing company. Vibha's key achievement during her tenure at WNS was to lead a team that successfully completed the Group's IPO on the New York Stock Exchange in a short span of six months. Prior to WNS, Vibha was with Colgate Palmolive India for 7 years, including a short posting to the Group's New York headquarters. Ms.Padalkar became a member of the Institute of Chartered Accountants in England and Wales in 1992, after having completed the last part of her schooling as well as college education in London.

Mr. Srinivasan Parthasarathy is the Chief Actuary and Appointed Actuary of HDFC Life. Srinivasan joined HDFC Life in 2011 from Canara HSBC Life Insurance with 18 years of experience in Life Insurance and Pensions in both India and the UK. He was one of the two candidates from Asia to be selected by the President of Institute of Actuaries, UK in the year 2000 to work for Watson Wyatt, UK, where he provided a range of consultancy services to clients on various aspects of company pension schemes. Then he moved on to work with Aviva UK where he worked in different areas including pricing, reporting and stochastic modelling, before being seconded to Aviva India. Amongst his key achievements at Aviva India was leading the transition from TEV to MCEV reporting. Srinivasan qualified as a Fellow of the Institute of Actuaries, UK in 2004 and became a Fellow of the Institute of Actuaries of India in 2008.

Mr. Prasun Gajri is the Chief Investment Officer of HDFC Life. Mr. Gajri joined HDFC Life in April 2009 with a rich experience of 14 years in investments and banking industry. He started his career in 1995 with Citibank and was associated with it for over 6 years delivering various roles. He joined Tata AIG Life Insurance Company in October 2001 to start the investment function and stayed there until April 2009, the last role being that of the Chief Investment Officer. He holds a PGDM from IIM Ahmedabad and is also a CFA Charter holder.

ASSOCIATE COMPANIES:
HDFC Limited HDFC Bank HDFC Mutual Fund HDFC Sales HDFC ERGO General Insurance HDB Financial Services HDFC Securities HDFC RED HDFC Trustee Company Ltd.

GRUH Finance Ltd. HDFC Developers Ltd. HDFC Property Ventures Ltd. HDFC Ventures Trustee Company Ltd. HDFC Investments Ltd. HDFC Holdings Ltd. Credit Information Bureau (India) Ltd

BANCASSURANCE PARTNERS:
HDFC BANK SARASWAT BANK INDIAN BANK

CORPORATE GOVERNANCE:
The Corporate Governance Policy provides the framework under which the Board of Directors operates. It includes its corporate structure, culture, policies and the manner in which it deals with various stakeholders. The governance policies address the responsibilities, authority and administration of the Board of Directors. The policies also include the responsibilities of the Principal Officer and define the reporting relationships. Timely and accurate disclosure of information regarding the financial situation, performance, board constitution, ownership of the company etc. is an important part of corporate governance.

Corporate governance arrangements are those through which an organisation directs and controls itself and the people associated with it.

CORPORATE SOCIAL RESPONSIBILITY:


HDFC Life has always believed that establishing a strong and ethical foundation is an essential prerequisite for long-term sustainable growth. We focus on maintaining the quality of our business and creation of long-term value for policy holders and stakeholders. For us, Corporate Responsibility comes first. We also believe that business must go hand in hand with a sense of responsibility towards all stakeholders including employees and the society. Swabhimaan, HDFC Lifes Corporate Social Responsibility (CSR) initiative- aims to play a positive role by contributing towards the advancement of society and conservation of environment while engaging with our stakeholders. The objective of Swabhimaan is to contribute to improve and enhance the quality of life of communities in which the company operates thereby helping to create an equitable society. HDFC Life is committed to being a socially responsible corporate and its CSR is not only governed by a formal policy and framework but also, all causes/projects are supported by active involvement from employees.

HDFC CSR FRAMEWORK:

PEOPLE:
Children Education Project- Navjeevan Hindi Medium School, Turbhe, Mumbai. Teach for India. Payroll Giving. Swabhimaan Calendar Activities.

Joy of Giving Week.

PLANET:
level. Setting usage hours of Air conditioners. Complete prohibition of paper cups. Printing of papers on both the sides as default setting. Internal campaign to save water, power and paper wastages on war footing

Hibernation of Desktops post 15 minutes of non usage. Encouraging employees to have environment friendly celebrations and festivities.

FINANCIAL LITERACY PROJECT:


HDFC Life in partnership with Yuva Unstoppable launched a Financial Literacy Program across 25 municipal schools in Gujarat (Ahmedabad, Baroda & Surat). Yuva Unstoppable is a premiere youth volunteer movement promoting and fostering random acts of kindness across 30 cities of India. The objective of the financial literacy project is to educate and equip children (from grade 5 to 8) with financial knowledge that would help them manage their finances/money in an effective manner. A financial literacy module has been created by

HDFC Life and is being conducted by trained HDFC Life employees and Yuva Unstoppable volunteers with the children. HDFC Life has educated more than 5000 children through this project.

MILESTONES:
Received the PCQuest Best IT Implementation Award 2008 for Consultant

Corner, the applications for its financial consultants, providing centralized control over a vast geographical spread for key business units such as inventory, training, licensing, etc. Sar Utha Ke Jiyo was honoured as 'Among India's 60 Glorious Advertising

Moments. The advertisements of the company were ranked 6th amongst 'The 10 most effective Advertisements' in September 2007. HDFC Standard Life's advertising created high awareness for the brand and

bagged 2 silver and 1 bronze awards at the ADFEST 2007 National Awards organised by the Advertising Agencies Association of India (AAAI). The 3 awards are the highest won by any single brand in the financial services business (including banking, mutual fund, insurance and other financial services). Ranked 29th most trusted Indian Brands amongst the Top 50 Service

Brands of 2006 according to a study conducted by the Brand Equity Economic Times, the leading business publication of India.

ACHEIVEMENTS:
HDFC Life was awarded with 'Yuva Unstoppable Corporate Icon Award' from Dr. APJ Kalam in Sept'2010. HDFC Life was awarded the 'Yuva Hero Award' in July 2011 for contribution towards the upliftment of lesser privileged children. Won the 'Most innovative fundraising campaign' award during the India Giving Challenge 2010. Won the 2nd 'Best Marketing Campaign' and 2nd 'Most Innovative Fundraising Campaign' awards during the India Giving Challenge 2011.

AWARDS AND ACCOLADES:

Financial Leadership Awards 2012


Bloomberg UTV Financial Leadership Awards have been instituted to acknowledge extraordinary contribution of Indias financial

leaders and visionaries. The best in league winners have been selected by an eminent Jury on the basis of a detailed methodology, process validation and research conducted by ICRA. The award was presented to HDFC Life by Union Finance Minister Pranab Mukherjee

Celent Model Insurer Global Award


HDFC Life has been selected, among the 23 Insurance Companies Worldwide, as a Model Insurer 2012, for the use of Enterprise Wide Learning via the Internet by Celent USA. HDFC Life has also won the Celent Model Insurer Asia 2012 award.

5th Loyalty Awards 2012 - Insurance Sector (Life)


These awards recognize Customer loyalty efforts of Companies across various sectors. The Theme of this year's Summit is "Driving Loyalty through Customer Experience Management".

Century International Quality ERA Award


Criteria on which the Century International Quality ERA is based:

1. Excellence in Leadership and Business Management, Excellence. 3. Business and Brand name Prestige. 4. Technology, Innovation and Expansion.

2. Quality and

My FM Star of the Industry Awards Excellence in Life Insurance


HDFC Life won the Silver award for Excellence in Life Insurance.The Stars of the Industry Awards recognises individual and corporate excellence across the banking and financial services sector. These Awards were decided by eminent Jury comprising senior professionals. The Awards were given away in 17 categories.

CHALLENGES FACED:
The key challenge is to reduce the turnaround time and improve their speed

to market their products.

Distribution Channel pressures and emerging consumer demands for mass

customization and hybrid products are moving rapid. Understanding the science of multi-distribution channel management and

developing a robust field footprint will remain the most distinctive competitive challenge .

TECHNOLOGICAL ADVANCEMENT: A key driver of growth in a longterm business like life insurance, technological advancement will be Critical to functions like data management, underwriting, fund management, actuarial efficiency, and the end-to-end service delivery process.

CHAPTER 4 DATA ANALYSIS & INTERPRETATION


Information about the new insurance products:

SI. No

Type of media

No. of Respondents

percentage

1 2 3 4 5

Television Other electronic media Newspapers Magazines Outdoor advt

7 2 5 4 12 30

23 7 17 13 40 100

INFERENCE: From the above table we get to know that the majority of the people get to know about a new insurance product through outdoor advertising.

Form of advertising:

SI. No

Form of advertising 1 2 Still image Moving image

No. of Respondents 17 13 30

Percentage

57 43 100

INFERNCE: The above table suggests that the consumers prefer a still image advertisement over a moving a advertisement as it catches more attention for them.

Advertising is a source of:

SI. No

Advertising is a source of

No. of Respondents

Percentage

1 2

Information Entertainment

14 16 30

47 53 100

INFERENCE:

A slightly percentage of the consumers from the survey conducted suggest that advertisement is just for entertainment and they rarely look out for information.

Outdoor advertising provides information about insurance products:

SI. No

Information

No. of Respondents

Percentage

1 2

Yes No

25 5 30

83 17 100

INFERENCE: The following above table explains us that the majority of the consumers agree to the fact that outdoor advertisement provides information to them regarding the product.

Does presence of any celebrity affect your opinion about the product?

SI. No

Information

No. of Respondents

Percentage

1 2

Yes No

23 7 30

77 23 100

INFERENCE:

On the basis of the survey conducted it show that there is an impact on the consumer over the decision making process of a product.

Presence of social issues affects your opinion about the product? SI. No Information No. of Respondents 1 2 Yes No 15 15 30 50 50 100 Percentage

INFERENCE: According to the above we can analyze that there is an equilibrium level of response from the consumers for the above posted question.

Advertising helps in increasing sales of any product: SI. No Information No. of Respondents 1 2 Yes No 21 9 30 70 30 100 Percentage

INFRERNCE:

The consumers do believe that advertising is a major contributor for having a good amount of sales for the particular product and in this case insurance policies are the products.

Do you think advertising through outdoor media is reaching people? SI. No Information No. of Respondents 1 2 Yes No 17 13 30 57 43 100 Percentage

INFRERNCE:

The above table indicates that the advertising made through outdoor media is effective in reaching people and them coming to know about the new insurance product launched in the market.

Future hold for outdoor advertising: SI. No 1 2 3 4 5 Level of satisfaction Very good Good Ok Bad Very bad No. of Respondents 7 13 5 3 2 30 INFRERNCE: Percentage 23 43 17 10 07 100

From the above table 43% of the consumers suggest that the future for the outdoor advertising is good and they think that the scope for it can be improved and be much better.

Do you think insurance companies are successful in delivering their products to customers through outdoor advertising? SI. No Information No. of Respondents 1 2 Yes No 12 18 30 40 60 100 Percentage

INFRERNCE:

We can analyze from the above table that the consumers do not think that the insurance companies are able to deliver their product by outdoor advertising to the needy.

Scope for outdoor advertising for insurance companies: SI. No Information No. of Respondents 1 2 Yes No 22 8 30 73 27 100 Percentage

INFRERNCE:

The scope for the insurance companies with regard to the outdoor advertising aspect of their product is tremendous, the companies can do a lot more of outdoor advertising in order to promote their product and make them reach to the consumer.

Have you taken any insurance policy/product, influenced by outdoor advertising? SI. No Information No. of Respondents 1 2 Yes No 17 13 30 57 43 100 Percentage

INFRERNCE:

The above table indicates there has been a certain level of influence on the consumers to purchase an insurance product.

Do you think insurance companies can increase their sale through outdoor advertising? SI. No Information No. of Respondents 1 2 Yes No 24 6 30 80 20 100 Percentage

INFRERNCE:

Majority of the consumers agree to the fact that the insurance companies can increase their sales through outdoor advertising as they tend to have a thought process that due to effective outdoor advertising the sales can be high for the insurance companies.

Do you think outdoor advertising plays an important role in insurance sector? SI. No Information No. of Respondents 1 2 Yes No 23 7 30 77 23 100 Percentage

INFRERNCE:

Consumers do think that an effective outdoor advertising by the insurance companies plays a major role in the insurance sector.

Your perception on outdoor advertising: SI. No 1 2 3 4 5 Level of satisfaction Very good Good Ok Bad Very bad No. of Respondents 7 13 7 3 0 30 INFRERNCE: Percentage 23.3 43.4 23.3 10 0 100

The perception of the consumers toward outdoor advertising is good but they also do indicate that it can get better for the betterment of the sales and awareness of the products related to insurance.

Do you generally buy products that are advertised? SI. No Information No. of Respondents 1 2 Yes No 16 14 30 53 47 100 Percentage

INFRERNCE:

Consumers tend to buy the products which are been advertised by the companies and from the above table it is shown that 53% of the consumers do purchase the products that are advertised.

Does outdoor advertising have any impact on your purchases or purchasing of an insurance product? SI. No Information No. of Respondents 1 2 Yes No 18 12 30 60 40 100 Percentage

INFRERNCE:

The consumers indicate that there is an impact over them while they go for purchasing of a particular insurance product.

Do you find any difference by advertising through outdoor and local media/newspapers? SI. No Information No. of Respondents 1 2 Yes No 20 10 30 67 33 100 Percentage

INFRERNCE:

Consumers do believe that there is a difference between advertising done through the local media or newspaper and advertising done outdoor. They prefer more of outdoor advertising in comparison to the other medium of advertising.

Most effective advertising medium for insurance companies: SI. No Type of media No. of Respondents 1 2 3 4 5 Direct advertising Outdoor advertising TV Commercials Print Media Others 4 12 7 5 2 13 40 23 17 7 Percentage

30 INFRERNCE:

100

Consumers attention is gathered through outdoor advertising in comparison to the other means of advertising and it does let us known by the percentage calculated i.e. 40% of the consumers suggest that outdoor advertising is more effective.

What percentage of your decision making depends on outdoor advertisements? SI. No Type of media No. of Respondents 1 2 3 Completely To an extent Not at all 7 21 2 30 23 70 7 100 Percentage

INFRERNCE: Consumer indicate that to an extent outdoor advertising plays a role in the decision making process as they mention that its due to the outdoor advertising that they get to know about the product and then enquire about it in depth if interested.

Chapter 5
FINDINGS, SUGGESTIONS & CONCLUSION

FINDINGS: From the study:


40% of the consumers think that the information about a insurance product is provided by

the outdoor advertising medium. 57% of the consumers prefer still image rather than moving image. 53% of consumers agree to the fact that advertising is only looked at as an entertainment

& not to gain information from it. 83% i.e. the majority of the population size agree that outdoor advertising gives

information about the insurance product. 77% of the consumers agree that presence of a celebrity does have an effect on their

opinion towards the product. There is a balanced opinion amongst the consumers when asked about does the social

issues influence your buying decision. 70% of the consumers agree that advertising helps in increasing the sales of the insurance

product. 57% consumers think that advertising through outdoor media is reaching people. 43% consumers suggest that the future for outdoor advertising is good.

60% of the consumers say that the insurance companies or not at delivering products

through outdoor advertising. 73% of the consumers say that there is a tremendous scope of outdoor advertising for the

insurance companies. 57% consumers got influenced by outdoor advertising and hence forth opted in purchasing

the insurance products. Majority of the population i.e.80% of consumers think that the insurance companies can

increase their sales through outdoor advertising. 77% of customers say that outdoor advertising plays a major role in the insurance sector. 43.4% of the sample size has got a good perception towards outdoor advertising. 53% of the consumers say yes that they do buy products which are advertised.

60% of the consumers agree to the fact that outdoor advertising as an impact on their

buying decision. 67% of the consumers find difference between outdoor advertising and local media or

news paper. 40% of the consumers feel that the most effective medium of advertising for an insurance

company is outdoor advertising. 70% of the consumers say that to an extent their decision making is dependent on outdoor

advertising.

Limitations: Due to constraint of time and resources, the study was conducted on HDFC Life Insurance Co. Ltd and the results of the study cannot be generalized. The accuracy of the analysis and conclusion drawn entirely depends upon the reliability of the information provided by the selected sample population. Sincere efforts were made to cover maximum category of people, but the study may not fully reflect the entire opinion of the people.

SUGGESTIONS:
More emphasis is to be given on advertising of the insurance products and the company

should about advertising the product through outdoor advertising which would gather attention of the consumers. Based on the survey conducted the consumers suggest that the insurance company think

about advertising through outdoor medium as they find scarcity of outdoor advertisement of the insurance products and hence forth the company has too look forward on having more outdoor

advertisements.

CONCLUSION:
By considering all the factors the significance of outdoor advertising is good for HDFC

Life but there is a huge scope for them to improve and have more of outdoor advertising done in the country in order create awareness about the product they offer and would also help them in increasing their level of sales.

REFERENCES AND BIBILOGRAPHY:


TEXTBOOKS:
Philip Kotler,(13th Edition), Marketing Management, A South Asian Perspective.

WEBSITES:
www.google.com www.wikipedia.com www.hdfclife.com

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