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    "A STUDY OF CONSUMER PERCEPTION TOWARDS HDFCLIFE

    At

    HDFC STANDARD LIFE INSURANCEA STUDY CONDUCTED IN HDFC STANDARD LIFEINSURANCE

    SUBMITTED BY:

    Karamveer SinghROLL NO-102261052

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    INTRODUCTION

    HDFCSL is one of Indias leading private insurancecompanies. It offers both individual and group insurancesolution. It is a joint venture between HDFC and a group of

    company of Standard Life. I have chosen insurance sectoras the place for summer training because in these days thissector is in boom and it will never go down. All peopleinvest their money in insurance and get more benefited. Inthe sector the work of marketing is more challenging than

    the other sector because there are 23insurance companiesin the market who are giving competition to each other andthe work of convince people for investment in respectivecompany is a challenging work and success in the sectorproves that the respective persons a good marketer.

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    REVIEW OF LITERATURE

    Client: HDFC Standard Life InsuranceBrand: HDFC Standard Life Insurance (corporate)

    Agency: Leo Burnett

    Medium: Television HDFC Standard Lifes new campaign, featuring Rajasthan

    Royals players - Shane Warne, Yusuf Pathan, Munaf Patel,Kamran Khan, and Swapnil Asnodkar - promotes andpropagates Self Respect via its Sar utha ke jiyo

    proposition. The campaign captures the essence of selfbelief, pride, and confidence through a journey of the lifeof these players and depicts how these players have beenable to achieve success despite all odds.

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    NEED OF THE STUDY

    The project was an attempt to explore the customer perceptionofHDFCSL in Cuttack. The project was started on 14thApril, afterknowing all the relevant information about thecompanyinsurance product and policies and its competitors

    insurance products inaccordance with the prescribed schedulementioned by management of HDFCSL.The project started inCuttack, Bhubaneswar and Bhawanipatna region covering thelocal market. Inthis process I met 60 persons to collectinformation about HDFCSL. I collected information for thecompany by questionnaire method I met 50 persons to recruit

    them as a financial consultant. Ihave tried to recruit FC bymeeting them personally. Duringmy work I found the perceptionof the people about insurance, what theydesire from it, and ifthey will work as financial consultant than what theywant fromthe organization.

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    SCOPE OF STUDY

    During the summer training I have done my workthrough telephone calls, questionnaire, and contactingpersons by going to their home. In the entire work I

    have contacted person who is a student, person who isworking in the organization and visited differentcolleges. I found that most of person can joininsurance company for saving taxes, unlimited

    earning, life time earning with little effort, which willgive him back support as a HEAD of the family in thediverse situation. This project will help to understandthe current market scenario and marketing in stiffcompetition.

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    Company Profile HDFC stands for Housing Development Finance

    Corporation It was incorporated in 1977 as a public limitedcompany with the specialization in provision of housingfinance to individuals cooperative societies and thecorporate sector. One significant matter about the HDFC isthat it is first private sector retail housing finance companyand it is listed on both BSE and NSE.

    Standard life insurance was founded in 1825. Standard lifewas reincorporated as a mutual assurance company in 1925.

    Its largest mutual life insurance company in Europe. Forthe joint venture between HDFC and SLIC, the discussioncommenced in January 1995 and the agreement signed inOctober 1995.Further joint venture agreement renewed inOctober 1998.

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    PRODUCT SCOPE

    The products of the company are categorized into varioussections which are as follows:

    INDIVIDUAL PRODUCTS

    GROUP PRODUCTS RURAL PRODUCTS SOCIAL PRODUCTS TAX BENEFITS For Individuals, HDFC Standard Life has a range of

    protection, investment, pension and savings plans thatassist and nurture dreams apart from providing protection.Customer can choose from a range of products to suit hislife-stage and needs.

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    PRODUCTs OF HDFCSL

    Unit link pension plan 2. Unit linked pension plus 3. Unit linked enhanced life protection II

    4. Unit linked young star plus II 5. Endowment assurance plan 6. Children plan 7. Money back plan

    8. Single premium whole of life plan 9. Personal pension plan 10. Saving assurance plan 11. Assure plan

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    Objective of the study

    Marketing Research provides information that assistsan organization to define opportunities for productdevelopment and market strategy.

    To Know about the consumer perception towardsHDFC Life.

    To Know about the costumer service by HDFC Life.

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    Research Methodology In my summer training I targeted Bhubaneswar and

    Cuttack.Here I had to approach various detail ofinsurance productof HDFCSL and the other

    competitors of it, suggestions, its marketingstrategyand its advertisement. As a part of marketing researchI also have tocollect data in order to find out marketshare of HDFCSL from our samplespace. During theperiod I was in constant touch with areamanager and Ihave to submit daily report of my work andfullinformation about phone calls and questioners.Questioner consisting ofopen ended questions wasused for collection the information.

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    SAMPLING PLAN: Since it is not possible to study whole universe, it

    becomes necessary to take sample from the universe toknow about its characteristics.

    1. Sampling Units: Service holders, self employed,Business Man, Professionals and Housewives2.Sample Technique: Random Sampling.

    3. Research Instrument: Structured Questionnaire. 4. Contact Method:telephone calls.

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    For the marketing survey I selected a sample size

    of 60 respondents. They belong to different age

    group more than 25 years and less than 66 years.

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    The second thing is Male and

    female In my sample size there were 52 male and 8 female

    86.66% male

    13.33% female

    male

    female

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    The third thing in my survey was

    single or married In my sample there were 21 single and 39 married

    means

    35% Single 65% Married

    single

    married

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    Service 27 45%

    Self employed 14 23%

    Student 2 3.33% Professional 13 21.66

    House wife 4 6.66%

    serviceself employed

    student

    professional

    house wife

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    SUGGESTIONS

    SUGGESTIONS: Finally some recommendations for the company are as

    fallows:-

    To make people aware about the benefit of HDFCStandard Lifes products, and change their perceptionfor the company following activities of advertisementshould be done through

    Print Media. Hoarding & Banners. Stalls in Trade Fares Distribution of leaflets containing details information.

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    LIMITATIONS OF THE STUDY

    The information given in the above part is based on marketsurvey, meeting with the people, and phone calls, and theother medium like internet and browser of HDFCSL. My

    project is based upon the interaction with the people toanalyze the customers perception. My study is totallybased on the perception of the people that what they thinkabout the insurance when someone offer him to work inthe insurance sector or to take a policy. I analyze that the

    person who is needy for money, greedy about fast life andbelieves in speed join insurance because this sector givesyou a platform for unlimited earning and life time earninglike life time validity in mobile phone.

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    CONCLUSIONS

    People have a very good perception towards HDFCSL.In my marketing survey81.66% respondents know thatHDFC is into insurance business. Among them 75%

    people come to know through advertisement, 3.33%people through friends .33% through relative and18.33% through internet. 46.33% respondents knowthat they can get expert advice regarding financialgoals. 41.66% respondents want to get financial advicefrom HDFCSL financial consultants. 75% respondentswant their relatives to know about t services ofHDFCSL.