RESEARCH PROJECTOn

Advertisement effectiveness study of ICICI Prudential life insurance Ltd.

`

For the partial fulfilment of the requirement ofMASTER OF BUSINESS ADMINISTRATIONAffiliated to Mahamaya Technical University, Noida (U.P.)(2010-2012)

Under The Guidance of: Submitted By:Ms.PRATIMA SHARMA SUDHIR SINGH Roll No.1068470104

GNIT Management School6-C, Knowledge Park-II, Greater Noida ( G. B. Nagar)

DECLARATION

This is to certify that the report submitted by me in Masters of Business Administration program from GNIT Management School, Greater Noida (Mahamaya technical university) embodies the original work done by me under the able guidance and supervision of Ms. pratima sharma (Faculty member of GNIT Management School). The findings and interpretations in the report are based on both primary and secondary data collection. This project is not copied from any source or other project submitted for similar purpose.

SUDHIR SINGH

Acknowledgement

In my whole endeavour to complete this project, I own immense gratitude to my Director mam Ms. savita mohan for extending his co-operation though this project.I express my sincere thanks to my guidance Ms. Pratima Sharma and all the faculty member of GNIT MANAGEMENT SCHOOL. for there valuable cooperation and giving me valuable information in preparing the project.Last but not least, I express my sincere gratitude to all the respondent who helped me in the project.

SUDHIR SINGH

preface

In this project we review the tools and techniques used to measure Advertising Effectiveness. Effectiveness is the measure of the gap between results and objectives. Lower the gap, higher the effectiveness. Thus it is an evaluation of the advertising process. The advertising evaluation process is frequently called accountability. Management wants the advertising managers to identify exactly what results were obtained for the advertising investment and to provide evidence of the return on investment. After all, advertising uses the scarce resources that could be invested in a number of ways. Therefore, the question that management poses is, Is advertising the best way to use those funds?" And it is the job of the advertising campaign planner to be able to answer that question. To do so usually requires some form of advertising evaluation. Evaluation of advertising campaign effectiveness is a form of research though it is somewhat different from other forms. Most advertising research is used to predict what might occur in the market place. Effectiveness research, on the other hand is used to determine exactly what did happen. Although this information might be used as a basis for future actions, its basic purpose is to measure what occurred as a result of the advertising campaign and, therefore, what return was received on the investment made.

Content

Page no.1) INTRODUCTION 6 _ 372) OBJECTIVE OF THE STUDY 38 _ 393) PROBLEM SCOPE OF THE STUDY 40 _ 464) REVIEW OF LITERATURE 47 _ 525) RESEARCH METHODOLOGY 53 _ 556) DATA ANALYSIS 56 _ 687) USE AND IMPORTANCE OF THE STUDY 69 _ 708) SUGGESTION 71 _ 739) CONCLUSION 74 _ 7510) SECONDARY DATA 7611) BIBLIOGRAPHY 77 _ 78

INTRODUCTION

IntroductionThe business of life insurance in India in its existing from started in India in the year 1818 with the establishment of the Oriental Life Insurance company in Calcutta. Some of the important milestones in the life insurance business in India are: 1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business. 1912: The Indian Life Assurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance business.

1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public.

1956: 245 Indian and foreign insurers and provident societies taken over by the central government and nationalized. LIC formed by an Act of parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of India. The general insurance business in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British. Some of the important milestones in the general insurance business in India are:

1957: The Indian Mercantile Insurance Ltd. Set up, the first company to transact all classes of general insurance business.

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

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

1972: The General Insurance Business (Nationalization) Act, 1972 nationalized the general insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and grouped into four companies viz. the National Insurance Company Ltd., the New India assurance Company Ltd., the Oriental Insurance Company Ltd. And the United India Insurance Company Ltd. GIC incorporated as a company. Insurance sector reforms in 1993, Malhotra Committee, headed by former Finance secretary and RBI Governor R.N. Malhotra, were formed to evaluate the Indian insurance industry and recommend its future direction. The Malhotra Committee was set up with the objective of completing the reforms initiated in the financial sector. The reforms were aimed at creating a more efficient and competitive financial system suitable for the requirements of the economy keeping in mind the structural changes currently underway and recognizing that insurance is an important part of the overall financial system where it was necessary to address the need for similar reforms In 1994, the committee submitted the report and some of the key recommendations included:

Parties to contractThere is a difference between the insured and the policy owner, although the owner and the insured are often the same person. For example, if Joe buys a policy on his own life, he is both the owner and the insured. But if Jane, his wife, buys a policy on Joe's life, she is the owner and he is the insured. The policy owner is the guarantor and he will be the person to pay for the policy. The insured is a participant in the contract, but not necessarily a party to it. Also, most companies allow the payer and owner to be different, e. g. a grandparent paying premiums for a policy on a child, owned by a grandchild.

The beneficiary receives policy proceeds upon the insured person's death. The owner designates the beneficiary, but the beneficiary is not a party to the policy. The owner can change the beneficiary unless the policy has an irrevocable beneficiary designation. If a policy has an irrevocable beneficiary, any beneficiary changes, policy assignments, or cash value borrowing would require the agreement of the original beneficiary.In cases where the policy owner is not the insured (also referred to as thecelui qui vitor CQV), insurance companies have sought to limit policy purchases to those with aninsurable interestin the CQV. For life insurance policies, close family members and business partners will usually be found to have an insurable interest. The insurable interest requirement usually demonstrates that the purchaser will actually suffer some kind of loss if the CQV dies. Such a requirement prevents people from benefiting from the purchase of purely speculative policies on people they expect to die. With no insurable interest requirement, the risk that a purchaser would murder the CQV for insurance proceeds would be great. In at least one case, an insurance company which sold a policy to a purchaser with no insurable interest (who later murdered the CQV for the proceeds), was found liable in court for contributing to thewrongful deathof the victim (Liberty National Life v. Weldon, 267 Ala.171 (1957)).

Contract termsSpecial exclusions may apply, such as suicide clauses, whereby the policy becomes null and void if the insured commitssuicidewithin a specified time (usually two years after the purchase date; some states provide a statutory one-year suicide clause). Any misrepresentations by the insured on the application may also be grounds for nullification. Most US states specify a maximum contestability period, often no more than two years. Only if the insured dies within this period will the insurer have a legal right to contest the claim on the basis of misrepresentation and request additional information before deciding whether to pay or deny the claim.The face amount of the policy is the initial amount that the policy will pay at the death of the insured or when the policymatures, although the actual death benefit can provide for greater or lesser than the face amount. The policy matures when the insured dies or reaches a specified age (such as 100 years old).

Costs, insurability and underwritingThe insurer (the life insurance company) calculates the policy prices with intent to fund claims to be paid and administrative costs, and to make a profit. The cost of insurance is determined using mortality tables calculated byactuaries. Actuaries are professionals who employ actuarial science, which is based on mathematics (primarily probability and statistics). Mortality tables are statistically based tables showing expected annual mortality rates. It is possible to derive life expectancy estimates from these mortality assumptions. Such estimates can be important in taxation regulation.The three main variables in a mortality table are commonly age, gender, and use oftobacco, but more recently in the US, preferred class-specific tables have been introduced. The mortality tables provide a baseline for the cost of insurance, but in practice these mortality tables are used in conjunction with the health and family history of the individual applying for a policy to determine premiums and insurability. Mortality tables currently in use by life insurance companies in the United States are individually modified by each company using pooled industry experience studies as a starting point. In the 1980s and 90s, the SOA 197580 Basic Select & Ultimate tables were the typical reference points, while the 2001 VBT and 2001 CSO tables were published more recently. The newer tables include separate mortality tables forsmokersand non-smokers, and the CSO tables include separate tables for preferred classes.Recent US mortality tables predict that roughly 0.35 in 1,000 non-smoking males aged 25 will die during the first year of coverage after underwriting.Mortality approximately doubles for every extra ten years of age, so the mortality rate in the first year for underwritten non-smoking men is about 2.5 in 1,000 people at age 65.Compare this with the US population male mortality rates of 1.3 per 1,000 at age 25 and 19.3 at age 65 (without regard to health or smoking status).The mortality of underwritten persons rises much more quickly than the general population. At the end of 10 years the mortality of that 25 year-old, non-smoking male is 0.66/1000/year. Consequently, in a group of one thousand 25-year-old males with a $100,000 policy, all of average health, a life insurance company would have to collect approximately $50 a year from each participant to cover the relatively few expected claims. (0.35 to 0.66 expected deaths in each year x $100,000 payout per death = $35 per policy). Other costs, such as administrative and sales expenses, also need to be considered when setting the premiums. A 10 year policy for a 25-year-old non-smoking male with preferred medical history may get offers as low as $90 per year for a $100,000 policy in the competitive US life insurance market.Most of the revenue received by insurance companies consists of premiums paid by policy holders, with some additional money being made through the investment of some of the cash raised from premiums. Rates charged for life insurance increase with the insurer's age because, statistically, people are more likely to die as they get older. The insurance company will investigate the health of and applicant for a policy to assess the likelihood of incurring a claim, in the same way that a bank would investigate an applicant for aloanto assess the likelihood of a default.Group Insurancepolicies are an exception to this. This investigation and resulting evaluation of the risk is termedunderwriting.Healthand lifestyle questions are asked, with certain responses or revelations possibly meriting further investigation. Life insurance companies in the United States support the Medical Information Bureau (MIB),which is a clearing house of information on persons who have applied for life insurance with participating companies in the last seven years. As part of the application, the insurer often requires the applicant's permission to obtain information from their physicians.Underwriters will determine the purpose of insurance; the most common being to protect the owner's family or financial interests in the event of the insured's death. Other purposes include estate planning or, in the case of cash-value contracts, investment for retirement planning. Bank loans or buy-sell provisions of business agreements are another acceptable purpose.Life insurance companies are never legally required underwrite or to provide coverage to anyone, with the exception ofCivil Rights Actcompliance requirements. Insurance companies alone determine insurability, and some people, for their own health or lifestyle reasons, are deemed uninsurable. The policy can be declined or rated (increasing the premium amount to compensate for a greater probability of a claim).Many companies separate applicants into four general categories. These categories arepreferred best,preferred,standard, andtobacco.]Preferred best is reserved only for the healthiest individuals in the general population. This may mean, that the proposed insured has no adverse medical history, is not under medication for any condition, and his family (immediate and extended) have no history of early-onsetcancer,diabetes, or other conditions .Preferred means that the proposed insured is currently under medication for a medical condition and has a family history of particular illnesses.Most people are in the standard category.Profession, travel history, and lifestyle factor into whether the proposed insured will be granted a policy, and which category the insured falls. For example, a person who would otherwise be classified as preferred best may be denied a policy if he or she travels to a high risk country.Underwriting practices can vary from insurer to insurer, encouraging competition.Death proceedsUpon the insured's death, the insurer requires acceptable proof of death before it pays the claim. The normal minimum proof required is adeath certificate, and the insurer's claim form completed, signed (and typicallynotarized).If the insured's death is suspicious and the policy amount is large, the insurer may investigate the circumstances surrounding the death before deciding whether it has an obligation to pay the claim.Payment from the policy may be as a lump sum or as anannuity, which is paid in regular installments for either a specified period orfor the beneficiary's lifetime.

Insurance vs assuranceThe specific uses of the terms "insurance" and "assurance" are sometimes confused. In general, in jurisdictions where both terms are used, "insurance" refers to providing coverage for an event that might happen (fire, theft, flood, etc.), while "assurance" is the provision of coverage for an event that is certain to happen. In the United States both forms of coverage are called "insurance", for reasons of simplicity in companies selling both products.

TypesLife insurance may be divided into two basic classes: temporary and permanent; or the following subclasses: term, universal, whole life and endowment life insurance.Term insuranceTerm assurance provides life insurance coverage for a specified term. The policy does not accumulate cash value. Term is generally considered "pure" insurance, where the premium buys protection in the event of death and nothing else.There are three key factors to be considered in term insurance:1. Face amount (protection or death benefit),2. Premium to be paid (cost to the insured), and3. Length of coverage (term).Various insurance companies sell term insurance with many different combinations of these three parameters. The face amount can remain constant or decline. The term can be for one or more years. The premium can remain level or increase. Common types of term insurance includelevel,annual renewableandmortgageinsurance.Level termpolicy features a premium fixed for a period longer than a year. These terms are commonly 5, 10, 15, 20, 25, 30 and even 35 years. Level term is often used for long-term planning and asset management as premiums remain constant year to year, allowing for long-term budgeting. At the end of the term, some policies contain a renewal or conversion option. Withguaranteed renewal, the insurance company guarantees it will issue a policy of an equal or lesser amount without regard to the insurability of the insured and with a premium set for the insured's age at that time. Some companies however do not guarantee renewal, and require proof of insurability at the time of renewal. Renewal that requires proof of insurability often includes a conversion option that allows the insured to convert the term policy to a permanent one, possibly compelling the applicant to agree to higher premiums. Renewal and conversion options can be very important when selecting a policy.Annual renewable termis a one-year policy, but the insurance company guarantees it will issue a policy of an equal or lesser amount regardless of the insurability of the applicant, and with a premium set for the applicant's age at that time.Another common type of term insurance ismortgage life insurance, which usually involves a level-premium, declining face value policy. The face amount is intended to equal the amount of the mortgage on the policy owner's property, such that any outstanding amount on the applicant's mortgage will be paid should the applicant die.A policy holder insures his life for a specified term. If he dies before that specified term is up (with the exception of suicide), his estate or named beneficiary receives a payout. If he does not die before the term is up, he receives nothing. However, in some European countries (notably Serbia), insurance policy is such that the policy holder receives the amount he has insured himself to, or the amount he has paid to the insurance company in total. Suicide used to be excluded fromallinsurance policies However, after a number of court judgements, many insurers began awarding payouts in the event of suicide (except for cases where it can be demonstrated that the insured committed suicide solely to access the policy payout). Generally, if an insured person commits suicide within the first two policy years, the insurer will simply return the premiums paid as a compromise. After this period, the full death benefit may be paid in the event of suicide.Permanent life insurancePermanent life insuranceis life insurance that remains active until the policy matures, unless the owner fails to pay the premium when due. The policy cannot be cancelled by the insurer for any reason except fraudulent application, and any such cancellation must occur within a period of time defined by law (usually two years). A permanent insurance policy accumulates a cash value, reducing the risk to which the insurance company is exposed, and thus the insurance expense over time. This means that a policy with a million dollar face value can be relatively expensive to a 70-year-old. The owner can access the money in the cash value by withdrawing money, borrowing the cash value, or surrendering the policy and receiving the surrender value.The four basic types of permanent insurance arewhole life,universal life,limited payandendowment.

Whole life coverageWhole life insurance provides lifetime death benefit coverage for a level premium in most cases. Premiums are much higher than term insurance at younger ages, but as term insurance premiums rise with age at each renewal, the cumulative value of all premiums paid across a life time are roughly equal if policies are maintained until average life expectancy. Part of the insurance contract stipulates that the policyholder is entitled to a cash value reserve, which is part of the policy and guaranteed by the company. This cash value can be accessed at any time throughpolicy loansand are received income tax free. Policy loans are available until the insured's death. If there are any unpaid loans upon death, the insurer subtracts the loan amount from the death benefit and pays the remainder to the beneficiary named in the policy.While the marketing divisions of some life insurance companies often explain whole life as a "death benefit with a savings component", this distinction is artificial according to life insurance actuaries Albert E. Easton and Timothy F. HarrisThe cash value reserve builds up against the death benefit of the policy and reduces the net amount at risk. The net amount at risk is the amount the insurer must pay to the beneficiary should the insured die before the policy has accumulated an amount equal to the death benefit. It is the difference between the current cash value amount and the total death benefit amount. Because of this relationship between the cash value and death benefit, it may be more accurate to describe the policy as a single, indivisible product, as no actual separation of the cash value and death benefit is possible. The insurer is actually setting aside money as a cash reserve to pay the future death benefit claim. This suggests that the cash value is technically part of the death benefit, which is "earned" as cash over time. The lack of separation between the cash value and death benefit also explains why insurers do not pay both the death benefit and the cash value to the beneficiary.The advantages of whole life insurance are guaranteed death benefits, guaranteed cash values, fixed, predictable annual premiums and mortality and expense charges that will not reduce the cash value of the policy. The disadvantages of whole life are inflexibility of premiums and the fact that theinternal rate of returnin the policy may not be competitive with other savings alternatives. Riders are available that can allow one to increase the death benefit by paying additional premium. One such rider is apaid-up additionsrider.The death benefit can also be increased through the use of policy dividends, though these dividends cannot be guaranteed and may be higher or lower than historical rates over time. According to internal documents from some life insurance companies, like Massachusetts Mutual, the internal rate of return and dividend payment realized by the policyholder is often a function of when the policyholder buys the policy and how long that policy remains in force. Dividends paid on a whole life policy can be utilized in many ways. First, if "paid-up additions" is elected, dividends will purchase additional death benefit which will increase the death benefit of the policy to the named beneficiary. Since this additional death benefit generates cash value, it also increases the cash value of the policy. Another alternative is to opt in for 'reduced premiums' on some policies. This reduces the owed premiums by the non-guaranteed dividends amount. A third option allows the owner to take the dividends as they are paid out (although some policies provide other/different/less options than these - it depends on the company for some cases). A final option is to invest the dividends in the insurance company's general or separate account.

Universal life coverageUniversal life insurance (UL) is a relatively new insurance product, intended to combine permanent insurance coverage with greater flexibility in premium payment, along with the potential for greater growth of cash values. There are several types of universal life insurance policies which includeinterest sensitive(also known as "traditional fixed universal life insurance"),variable universal life (VUL),guaranteed death benefit, andequity indexed universal life insurance.A universal life insurance policy includes a cash value. Premiums increase the cash values, but the cost of insurance (along with any other charges assessed by the insurance company) reduces cash values. However, with the exception of VUL, interest is paid at a rate specified by the company, further increasing cash values. With VUL, cash values will ebb and flow relative to the performance of the investment sub-accounts the policy owner has chosen. The surrender value of the policy is the amount payable to the policy owner after applicable surrender charges, if any.Universal life insurance addresses the perceived disadvantages of whole life namely that premiums and death benefit are fixed. With universal life, both the premiums and death benefit are flexible. Except with regards to guaranteed death benefit universal life, this flexibility comes the disadvantage of reduced guarantees.Depending on how interest is credited, the internal rate of return can be higher as it moves with prevailing interest rates (interest-sensitive) or the financial markets (equity indexed universal lifeandvariable universal life). Mortality costs and administrative charges are known, and cash value may be considered more easily attainable because the owner can discontinue premiums if the cash value allows this.Flexible death benefit means the policy owner can choose to decrease the death benefit. The death benefit could also be increased by the policy owner, but that would typically require the insured to go through a new underwriting. Another feature of flexible death benefit is the ability to choose from option A or option B death benefits, and to change those options during the life of the insured. Option A is often referred to as a level death benefit. Generally speaking, the death benefit will remain level for the life of the insured and premiums are expected to be lower than policies with an Option B death benefit. Option B pays the face amount plus the cash value. If cash values grow over time, so would the death benefit which is payable to the insured's beneficiaries. If cash values decline, the death benefit would also decline. Presumably, option B death benefit policies would require higher premiums than option A policies.Limited-payAnother type of permanent insurance isLimited-pay life insurance, in which all the premiums are paid over a specified period after which no additional premiums are due to keep the policy in force. Common limited pay periods include 10-year, 20-year, and are paid out at the age of 65.Endowments:Endowment policyEndowmentsare policies in which the cumulative cash value of the policy equals the death benefit at a certain age. The age at which this condition is reached is known as the endowment age. Endowments are considerably more expensive (in terms of annual premiums) than either whole life or universal life because the premium paying period is shortened and the endowment date is earlier.In the United States, theTechnical Corrections Act of 1988tightened the rules on tax shelters (creating modified endowments). These follow tax rules in the same manner asannuitiesand IRAs.Endowment insurance is paid out whether the insured lives or dies, after a specific period (e.g. 15 years) or a specific age (e.g. 65).

Accidental deathAccidental death is a limited life insurance designed to cover the insured should they pass away due to an accident. Accidents include anything from an injury and upwards, but do not typically cover deaths resulting from health problems or suicide. Because they only cover accidents, these policies are much less expensive than other life insurance policies.It is also very commonly offered asaccidental death and dismemberment insurance(AD&D) policy. In an AD&D policy, benefits are available not only for accidental death, but also for the loss of limbs or bodily functions, such as sight and hearing.Accidental death and AD&D policiesvery rarely paya benefit, either because the cause of death is not covered by the policy, or the coverage is not maintained after the accident until death occurs. To be aware of what coverage they have, an insured should always review their policy for what it covers and what it excludes. Often, it does not cover an insured who puts themselves at risk in activities such as parachuting, flying, professional sports or involvement in a war (military or not). Also, some insurers will exclude death and injury due to (but not limited to) motor racing and mountaineering.Accidental death benefits can also be added to a standard life insurance policy as a rider. If this rider is purchased, the policy will gener

Structure:Government stake in insurance companies to be brought down to 50%. Government should take over the holdings of GIC and its subsidiaries so that these subsidiaries can act as independent corporations. All the insurance companies should be given greater freedom to operate.

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

Investment: Mandatory Investments of LIC Life Fund in government securities to be reduced from 75% to 50%. GIC and its subsidiaries are not to hold more than 5% in any company (There current holdings to be brought down to this level over a period of time). Customer Service LIC should pay interest on delays in payments beyond 30 days. Insurance companies must be encouraged to set up unit linked pension plans. Computerized of operations and updating of technology to be carried out in the insurance industry.The Insurance Regulatory and Development Authority Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament in December 1999. The IRDA since its incorporation as a statutory body in April 2000 has fastidiously stuck to its schedule of framing regulations and registering the private sector insurance companies. Attracted by the huge untapped potential, many private players entered the market after the Insurance bill was passed in late 2000. A majority of these were collaborations between an Indian company and a leading MNC insurance/financial services company.ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, India's foremost financial services companies, and Prudential plc, a leading international financial services group headquartered in the United Kingdom. While ICICI retains 74% stake in the joint venture, Prudential plc has the remaining 26% stake. ICICI Prudential began its operations in December 2000. Today, this company has over 1,900 branches (inclusive of 1,074 micro-offices), over 210,000 advisors and 6 branch assurance partners. ICICI Prudential Life Insurance Company is the first life insurer in India that received a National Insurer Financial Strength rating of AAA (Ind) from Fitch ratings. ICICI Prudential has been voted as India's Most Trusted Private Life Insurer for three consecutive years. This company provides various insurance plans that have been designed for different individuals, as every individual has different insurance needs. It celebrated its 10th anniversary on 12th December 2010. Given below is a list of plans provided by ICICI Prudential Life Insurance Company:

All ULIPsUnit linked insurance plans (ULIPs) are a category of goal-based financial solutions that combine the safety of life insurance protection and long term wealth creation opportunities. In ULIPs, a part of the premium goes towards providing you with life cover while the remaining portion is invested in fund(s) which, in turn, are invested in stocks or bonds. Retirement Wealth Child HealthLife Insurance Plans

Term PlansTerm insurance is the simplest and most fundamental insurance product available at extremely affordable prices. In this type of a policy, an individual pays a fixed amount of money periodically and in the unfortunate event of death of the policyholder, the entire amount paid, along with some other benefits and interest, is paid back to the deceased's family. ICICI Pru iProtect ICICI Pru Pure Protect ICICI Pru LifeGuard ICICI Pru Home Assure

Wealth PlansWealth insurance plans are essentially long term savings plans which are designed to help you save enough for your long term goals, like owning a house or a car etc, along with providing you the benefit of life cover and protection for your family.

ULIP Wealth Plans ICICI Pru LifeStage Wealth II ICICI Pru Pinnacle II ICICI Pru LifeTime Premier ICICI Pru Life Link Wealth SP ICICI Pru Pinnacle Super

Traditional Wealth plans ICICI Pru Future Secure ICICI Pru Guarenteed Savings Insurance Plan ICICI Pru Whole Life ICICI Pru SavenProtect ICICI Pru CashBak

Child Plans Regardless of the rising cost of education in modern times, a parent never compromises on the expenditure that goes into his/her child's bright career. A saving's plan that is designed to provide money at key educational milestones and take care of your loved ones future even if you are not around, is a wise decision to make. In this plan, you pay premium periodically, or in lump sum, and during the key educational milestones of your child, you can withdraw the money partially.

Traditional Child Plans ICICI Pru Smart Kid Regular PremiumUnit Linked Child Plans ICICI Pru Smart Kid Premier

Health Plans

Predicting unfortunate medical emergencies is difficult. Bearing the expenses of the costly treatment is not at all easy and therefore, ICICI Prudential has come up with health insurance plans that insure you and your family against expenses arising due to medical emergencies and uncertainties such as hospitalisations or onset of critical illnesses.

Hospitalisation Plans ICICI Pru Health Saver ICICI Pru Hospital Care IICritical Illness Plans ICICI Pru Crisis CoverRidersICICI Prudential gives you the freedom to form your very own comprehensive insurance policy by adding the rider benefits to the basic life insurance policy. This increases the scope of your policy, at a nominal cost. Critical Illness Benefit Rider Accident & Disability Benefit Rider Income Benefit Rider Waiver of Premium Rider (WOP) Waiver Of Premium On Critical Illness Rider

Retirement Plans

Financial independence at all times is important but its importance is the most in the post-retirement phase of life. After being self-dependant for a lifetime, the idea of depending upon your children can be quite putting off. Retirement plans from ICICI Prudential Life Insurance, ensure that you have enough flexibility to choose your retirement date and the manner in which you receive the pension.

ULIP Retirement Plans ICICI Pru Life Link Pension SpTraditional Retirement Plans ICICI Pru ForeverLife ICICI Pru Immediate AnnuityGroup PlansGroup Insurance Plans from ICICI Prudential enable the employer to effortlessly provide his/her employees with both, savings and security, so they can pass on the benefits to their loved ones.

Retirement Solution Group Gratuity Plan Group Leave Encashment Plan

Protection Solution Annuity Solutions Group Term Insurance Plans Group Term in lieu of EDLI Scheme Credit Assure Utility

Rural Plans

ICICI Prudential's rural business initiative has covered more than 2.5 million lives across as many as 16 states in India. The plans offer Life cover, low and affordable premiums and hassle free procedure. ICICI Pru Sarv Jana Suraksha ICICI Pru Anmol Nivesh

"Advertisements are sometimes spoken of as the nervous system of the business world ... As our nervous system is constructed to give us all the possible sensations from objects, so the advertisement which is comparable to the nervous system must awaken in the reader as many different kinds of images as the object itself can excite" Advertising effectiveness means different things to the groups responsible for its different effects. To the writer or artist, effective advertising is that which communicates the desired message. To the media buyer, effective advertising is that which reaches prospective buyers a sufficient number of times. To the advertising or marketing manager, effective advertising is that which, together with other marketing forces, sells his brand or product. To the general manager, effective advertising produces a return on his firms expenditure. In fact, effective advertising must achieve all four goals, delivering messages to the right audience, thereby creating sales at a profit. Most advertisers have begun only recently to set goals in all four areas and measure progress toward them. Some advertisers have set communications and audience goals, and measured copy and media effects, But few advertisers have set dollar goals and measured sales and profit effects. The result is that advertising has rarely been a part of corporate planning. Thirty years ago, management was asking the same questions they ask today: Is my advertising working and what impact does it have on my sales? Can it be measured? Can our advertising and promotion be made accountable in the same manner as which one evaluates all of the other investments by our company? The answer to all three questions is yes. In fact, the techniques to deliver this degree of accountability and control have been around for more than 50 years and are industry standards. There are methods to test every aspect of marketing promotion, sales support and media mix, and analytical tools to establish a direct relationship to sales for complete accountability. The key to this is applying a full advertising research curriculum. This requires involvement of both sales and marketing management and the advertising/promotions supplier coordinating their efforts with the researcher. It is a partnership. This may explain why so many from both the client and agency sides remain of the opinion that it cant be done. The fact is that a full curriculum can be implemented, is already integral to nearly every brand leader, and you can do it as well. It just takes a little planning and co-operation. Lets start from where it all began.

We are all surrounded by a vast amount of advertising. Nearly everybody, therefore, has some thoughts on the subject. The tendency is to judge advertising as good or bad, to single out advertisements that one likes or dislikes, to wonder if advertising is worth the large sums of money spent on it, to question the contribution advertising makes to social welfare, and so on. Advertising research also aims to answer these questions in academic ways mainly within the fields of social science. The social simulation research community has developed rapidly in recent years. Computer simulation has proved useful for modelling phenomena of traditionally social scientific interest. This work is to use agent-based social modelling and simulation approach to evaluate the effectiveness of advertisingAdvertising effectiveness means different thing to the group responsible for its different effect . to the writer or to the artist , effective advertising is that which communicate the desired message . To the media buyer , effective advertising is that which reach the prospective buyer a sufficient number of the times. To the advertising or marketing manager , effective advertising is that which together with other marketing force ,sells his brand or product. To the general manager , effective advertising produces a return on his firm expenditure in fact , effective advertising must achieve all four goals and delivering message to the right audience, there by creating sales at a profit. Most advertiser begun only recently to set goal in all four area and measure progress toward them. Some advertiser set communication and audience goals, and measure copy and media effects, but few set a dollar goals and measure sales and profit effects.The result is that advertising has rarely been a part of corporate planning. Thirty year ago management ask the same question they ask today : is my advertising working and what impact dose it has on my sale? can it be measured? Can our advertising and promotion made accountable in same manner as on which evaluates all of the other investment by our company?According to industry observers, one of the main reasons for the low insurance penetration in India was the ineffective distribution and marketing strategies adopted by LIC. The company reportedly never had any strategic marketing game plan, and due to its monopolistic nature the need for serious marketing efforts was never felt. The advertising initiatives were limited to some print and electronic media advertisements that typically talked about LICs products being great tax saving tool for salaried individuals who came under the income-tax bracket. Despite all this, LIC was synonymous with insurance in India and it had established an enviable brand image for itself, especially in the rural areas and small towns. However, with the entry of new players, the insurance market changed almost overnight. Analysts commented that the private insurers seemed all set to make the industry marketing-driven, wherein technical and service excellence would be the key factors of success. The private companies, in a bid to make their presence felt and their brand noticed, initiated a series of aggressive marketing and promotion initiatives, something that buyers of insurance were not accustomed to. In July 2002, Indias state owned insurer, Life Insurance Corporation of India (LIC) announced aggressive marketing plans with a budget of around Rs 1 billion. The aim of this unusual decision was to woo customers across the country through a multimedia campaign including advertisements on the radio and the press media, the outdoor media and the television. However, this did not come as a major surprise to industry observers who said that LIC did not have too many options. With the insurance bill being passed in 2000, the Indian insurance sector saw a host of private players enter the market with multinationals as their partners. These new players resorted to aggressive marketing and advertisement strategies something the market had never seen earlierAdvertisements convey brand differentiation and this may be important in several categories, which consist of several brands. In FMCG products like tea, coffee and detergents, differentiation awareness can be created by television advertising, but in certain categories there may be a need to demonstrate the effectiveness of brands. Differentiation with which consumers cannot connect may have a negative implication and if a brand connects consumers with its differentiation, it is likely to also differentiate itself in terms of getting identified with the consumer. A detergent or a washing machine, which claims low water consumption has to demonstrate this claim at a retail outlet especially given the fact that the quality of water varies across areas even in a specific geographical region. It is also essential that a good differentiation proposition result in a positive word-of-mouth.In a certain situation, the company may have two offerings in a product-line and there is a need to differentiate them clearly depending on the target segments involved. This is a complex situation where differentiation decides the growth of the brand and the perceived difference between the offerings. An added layer to the complexity is the same brand name being used for the offerings. Fairness cream is a category in which the benefit is the fairness of the complexion. A brand like Fair and Lovely built over the years still has a strong association with the category but under tremendous pressure from competitive brands and the most important criteria which these brands is the herbal touch associated with them. Herbal ingredients are becoming popular with consumers in several categories and personal care in India has a strong tradition of herbal care. Fair and Lovely had to launch its herbal variant (it used the same brand probably because of the brand equity built up over the years). The interesting fact is the differentiation being conveyed by advertising. The original version uses an aspiration route in which the brands ultimate benefit is success through confidence. Estimates based on China's current per capita Consumption, the Indian FMCG market is set to treble from US$ 11.6 billion in 2003 to US$ 33.4 billion in 2015. The dominance of Indian markets by unbranded products, change in eating habits and the increased affordability of the growing Indian population presents an opportunity to makers of branded products, who can convertconsumers to branded products.

Penetration level in most product categories like jams, toothpaste, skin care, hair wash etc in India is low. The contrast is particularly striking between the rural and urban segments - the average consumption by rural households is much lower than their urban counterparts. Low penetration indicates the existence of unsaturated markets, which are likely to expand as the income levels rise. This provides an excellent opportunity for the industry players in the form of a vastly untapped market. Moreover, per capita consumption in most of the FMCG categories(including the high penetration categories) in India is low as compared to both the developed markets and other emerging economies. A rise in per capita consumption, with improvement in incomes and affordability and change in tastes and preferences, is further expected to boost FMCG demand. Growth is also likely to come from consumer "upgrading", especially in the matured productcategoriesThis sudden spurt of advertisements and awareness programs was visible on all the media channels. Print, electronic and outdoor advertisements of the new private insurers flooded could be seen everywhere. This prompted many comparisons of such behavior of insurance companies with the advertising frenzy of the dotcoms in India not too long ago with similar full-page advertisements, huge hoardings and costly electronic media advertisements. According to reports, in the first quarter of the year 2002, insurance companies spent 70% of what was spent in the whole of 2001, on advertising and publicity. Across the world, insurance, as a category was one of the largest spenders on advertising. In India too substantial expenditure was being incurred due to advertising. However, during the first year of the entry of new players, while LIC reported a growth of over 250%, private insurers managed to garner only about 0.5% market share, in spite of spending hefty amounts on advertising and promotion. According to reports, LICs business increased mainly because of the increased public awareness about insurance, which was brought about by the heavy advertisement campaigns of private players.

Advertising effectiveness can be defined as the extent to which advertising generates a certain desired effect. Measuring the effects of advertising is very important, given the amount of investments needed for advertising. While it is not possible to obtain a global measure of the advertising effectiveness, we should seek to develop and apply methods and measures for a partial verification of results. Regarding the difficulty of measuring the overall effectiveness, we believe that it is due essentially to the following considerations:

advertising interacts with other business variables (behavior, marketing policies, financial decisions etc.) and environmental variables (competition, economic conjuncture etc.), hardly isolable; the effects of advertising are varied and not always translatable into quantitative terms; advertising causes long-term effects, not always, therefore, the results occur in the same period in which are the costs.

In literature and practice the evaluation of advertising effectiveness has used two basic models:

the dichotomous model; the three-dimensional model.

The dichotomous model is applied mainly in product and brand advertising, tending to isolate and evaluate separately the following:

sales effect; communication effect.

The sales effect refers to the assessment of the capability of advertising to affect the sales volume and/or the market share, regardless of the possible influence of other variables. For Batra et al. (1995), the effectiveness of advertising should be considered for its effect on sales in the short term. This advertising performance measurement is based on the marginal theory (Chamberlin, 1948). The advertising is therefore regarded as an independent variable that can be combined with other marketing variables to have a certain effect on the dependent variable, i.e. sales. The aim is to seek the best combination of the determinants of the sales increase.

The effect of communication refers to the ability to reach, with appropriate messages, a more significant share of public. Such effect is examined in literature with different approaches:

sociological; semiotic; psychological; socio-psychological.

Sociological analysis focuses on the community, considered as a system governed by rules and social norms, and on the social behavior (Moingeon, 1993). The role of advertising and consumption in the society change is a very fertile topic. Sociology has examined how advertising influences opinions, attitudes and behaviors of individuals and social groups. There are two opposite sociological perspectives to the advertising function in contemporary society. The first maintains a positive approach to advertising. It is believed that the role advertising is to better organize economic and social relations, to harmonize social behaviors, to make people adhere to common values and to help them to better live together without problems. The second approach is, by contrast, rather critic, because advertising tends to generate a mass consumption. In order to adapt messages to a wider audience, introduces new, poorly differentiated, symbolic values (Friedman, 1979).

The semiotic analysis focuses in the first instance, on symbols. These are identified as anything that conveys meaning, e.g., words, gestures, images, and dance. Semiotics studies the problem of encoding, and more generally of the code used. The object of investigation is the message itself containing different signs that can be interpreted according to a preestablished intention, without reference to the consumer and the influence on the consumer behavior. This approach is useful especially in the context of advertising creation. Authors assess the effectiveness of advertising in reference either to the language of the message (Barthes, 1964; Durand, 1964) or the graphic image of the message (Eco, 1979; Mick, 1986; Scott, 1994). However, they analyze the quality of message from the viewpoint of its construction, its presentation and the place of the communication process. The impact of the message on the recipient is a minor problem in the process of the message evaluation. This is an important limitation to the semiotic approach in terms of marketing.

Communication in general and advertising in particular, were treated by psychologists starting from the motivations of recipients, which occupy a central position in the analysis. This is because of their influence on the perception of the recipient (Mittelstaedt, 1990). They believe that the motivations drive consumer behavior. So the purpose for the advertising creator, is to identify the reasons of consumer behavior, in order to identify the most effective advertisement message or to remove the communication barriers. With the psychological approach, other types of research and investigation have emerged, thanks to the contribution of neuroscience. The evidence (obtained through scientific experimentation) has become a necessary support to verify the assumptions. The psychological approach has the advantage to measure the effectiveness of advertising with reference to the recipient of the message, particularly to the consumers characteristics. On the other hand, the approach does not provide exhaustive answers, not delving into the exact causes that lead the recipient of the message publicity to expose themselves voluntarily to the message, decode it, to store and, eventually, to make the purchase. So it is not taken into account the entire communication process, and, in particular, the external factors, especially those related to the environment, that may play a crucial role in determining the behavior of the recipient.

The socio-psychological approach takes simultaneously into account the message and the recipient of the message. This approach aims to study the effectiveness of advertising in terms of persuasiveness (Ray, 1982), observing the effects on the formation process of attention, memory, attitude and behavior (Kapferer, 1990). This research methodology considers the environment of the communication process and its actual interactions. The experimentation is widely used. It also allows to consider all hypotheses tested together, and all the links that may exist between variables, through a pre-test, getting an advantage in terms of validity of the research. Rather than focusing solely and exclusively on direct effects of certain variables taken individually, that is difficult to control in reality, this approach studies the actual contribution of these variables in explaining the evolution of the dependent variable, sales.

The major criticisms to the dichotomous model concern the partial evaluation and the inability to provide reliable breakdowns of the effects achieved by advertising and by other company politics (marketing and communication). For these reasons, sometimes, the three-dimensional models (i.e. AIDA model and model Dagmar) are preferred. These models are used both in planning advertising campaigns and evaluating their effectiveness. They propose a hierarchy of communication effects, cognitive affective and behavioral (Brasini et al. 1993; Marbach and Fabi 2000).Namely the analysis of cognitive dimension concerns the messages understanding and storing and must take account of different types of memory: spontaneous recall, without any added indication; stimulated recall, facilitated by the presentation of certain evidence; related memory, when respondents are able to describe at least one specific element of the communication; recognition, or identification of the advertising; brand allocation, the memory not only of the advertising but also of the advertised brand).The affective dimension is linked to the attitude toward and perceptions of communication. Affective reactions and emotional acceptance of that type of campaign are investigated. The affective attitude towards the images proposed and the spread opinion of consumers is detected.The behavioral dimension describes changes in buying behavior, detectable by intentions and actions measured by sales and market share.

All the models mentioned so far are mainly focused on three elements of the communication process: the recipients (in terms of audience, memory, storage), the media used (in terms of impact, coverage, frequency, etc..) and the feedback (in terms of attitudes, behaviors, opinions, etc...). They totally omit other elements (source, code, context) assuming essentially that the communication process was conducted in optimal conditions or at least without distortion. Moreover a fundamental element for an effective communication process is the use of the same code by the source and recipient. Otherwise, the recipient will not understand the message or give a different meaning and this will lead to the phenomenon Eco called "aberrant decoding". However, since as stated by Watzlawich the message is what we understand, not what it was intended to understand, it becomes important to examine not so much and not only what the firms wanted to communicate, but what was actually communicated.

OBJECTIVE OF THE STUDY

To know the most effective media of advertisement To find out the reason of liking the advertisement of ICICI To know how they survive in the cutthroat competition. To know the promotional strategies of ICICI prudential To know how they face their competitors strategies. To know number of new player has entered the market and are viewing to gain the market share in this rapidly improving market. To understand & measure the impact of advertising in the market. To measure the effectiveness of advertisement / promotional activities for a particular product class and corporate advertising. To understand and measure the affect of advertising in brand-building, brand re-call and finally the choice of a plan while buying it.

Problem & scope of the studyProblem area:

A majority of Indian customers being very conservative and averse to risk, trust was an extremely important factor in the insurance business. Since LIC was a government owned body, there was an element of security embedded in its services and products. This proved to be the biggest hurdle for the new insurance companies as Indian customers were reportedly rather sceptical about them.According to industry observers, one of the main reasons for the low insurance penetration in India was the ineffective distribution and marketing strategies adopted by LIC. The company reportedly never had any strategic marketing game plan, and due to its monopolistic nature the need for serious marketing efforts was never felt. The advertising initiatives were limited to some print and electronic media advertisements that typically talked about LICs products being great tax saving tool for salaried individuals who came under the income-tax bracket. Despite all this, LIC was synonymous with insurance in India and it had established an enviable brand image for itself, especially in the rural areas and small towns. However, with the entry of new players, the insurance market changed almost overnight. Analysts commented that the private insurers seemed all set to make the industry marketing-driven, wherein technical and service excellence would be the key factors of success. The private companies, in a bid to make their presence felt and their brand noticed, initiated a series of aggressive marketing and promotion initiatives, something that buyers of insurance were not accustomed to. In July 2002, Indias state owned insurer, Life Insurance Corporation of India (LIC) announced aggressive marketing plans with a budget of around Rs 1 billion. The aim of this unusual decision was to woo customers across the country through a multimedia campaign including advertisements on the radio and the press media, the outdoor media and the television. However, this did not come as a major surprise to industry observers who said that LIC did not have too many options. With the insurance bill being passed in 2000, the Indian insurance sector saw a host of private players enter the market with multinationals as their partners. These new players resorted to aggressive marketing and advertisement strategies something the market had never seen earlier.It is a known fact that an average consumer is bombarded with so many brands that he/she cannot remember. In order that product should get through the clutter it is believed that a single selling message has to be repeated for a large number of times. Thus the most significant problem with the USP approach to advertising is that it requires a large media budget to repetitively air the advertisements and such ads often annoy consumers. And hence instead of creating a consumer base it may drive away the potential customers as against this, UCP by itself provides solutions to all the marketing problems poised by the widely accepted USP approach. Basically it aims at the core of the problem. It eliminates the problem from the roots rather than periodic trimming of the tree. Bridge positioning can play a role in bridging the gap between customer perception and product USP by relying more on UCP than USP based positioning statement. Objectives: Objective of the study was to find out finer points of developing bridge positioning statement and how it can bridge the gap between the UCP and USP. The study further focused on how bridge positioning can be validated in terms of sales.A USP is that distinct and appealing idea that sets your business favorably apart from every other generic competitor. While A UCP is that distinct and appealing idea that is built on customers perceptions that sets business favorably apart from every other generic competitor. Brands which had high success has USP=UCP. This means positioning statement helps to have better brand recall. Thus, Bridge positioning statement helped to bring brand come nearer to the customers. Application of bridge positioning helped to generate better sales and achieve status of leader brands. UCP and USP matching makes the brand recall better and the positioning statement in these cases can be called Bridge Positioning. It is quite obvious that only the clear and well-defined USP is not the panacea for all marketing ills. Todays trying economic conditions have forced difficult decisions on companies. Most are making conservative decisions that reflect a survival mode in business operations. During these difficult times, understanding what customers think on continuous basis is critical for survival. Most marketers assume the product USP to stay constant overtime that is contrary to reality. Companies may have to change the USP to stay contemporary and relevant. It is obvious that there has to be another parameter that makes a success of the product. What companies need to understand is products UCP. UCP by itself provides solutions to all the marketing problems poised by the widely accepted USP approach. Basically it aims at the core of the problem. It eliminates the problem from the roots rather than periodic trimming of the tree. If an Organization fails to recognize the customers perception then the initial surge of customers would quickly come to a screeching halt and the brand would fade into obscurity along with the organization. On the other hand, following customers perception not only offers an emotionally positive solution to their needs but also serves to enhance the current customers perception of the brand. Following this with an excellent product/service and customer support will leave an indelible mark on the existing customers memory, which will create brand loyalty. Bridge positioning was validated in studies by Srivastava(2005) and Srivastava (2006) by trying Natrilix-SR and Mountain Dew as a test case. Selection of the brand: Mountain Dew, a lemon drink, with the USP The Spirit of Adventure - Do the Dew is marketed in India. However, this USP failed to position Mountain Dew in the minds of the consumers as an adventure drink. This was reflected by stagnant sales of Mountain Dew in the market. Similarly, Natrilix-SR a diuretic widely used in India was stagnating and not showing enough growth. This sudden spurt of advertisements and awareness programs was visible on all the media channels. Print, electronic and outdoor advertisements of the new private insurers flooded could be seen everywhere. This prompted many comparisons of such behavior of insurance companies with the advertising frenzy of the dotcoms in India not too long ago with similar full-page advertisements, huge hoardings and costly electronic media advertisements. According to reports, in the first quarter of the year 2002, insurance companies spent 70% of what was spent in the whole of 2001, on advertising and publicity. Across the world, insurance, as a category was one of the largest spenders on advertising. In India too substantial expenditure was being incurred due to advertising.However, during the first year of the entry of new players, while LIC reported a growth of over 250%, private insurers managed to garner only about 0.5% market share, in spite of spending hefty amounts on advertising and promotion. According to reports, LICs business increased mainly because of the increased public awareness about insurance, which was brought about by the heavy advertisement campaigns of private players.

Scope to:

The study:A big boom has been witnessed in Insurance Industry in recent times. A large number of new players have entered the market and are vying to gain market share in this rapidly improving market. The study deals advertisement given by Insurance Companies. The study then goes on to evaluate and analyze the findings of these advertisements so as to present a clear picture of media strategy the Insurance players.

The company:The result of the survey will help the company to know about the effectiveness of various life insurance advertisements and how much advertisement is helpful in buying decision. The results will also help the company to trace the loop holes and then take the corrective measures to rectify them.

The industryThis is a limited study which takes into consideration the responses of 50 people. This data can be exported to take decision for promotional strategy across the industry. The significance for the industry lies in studying these trends that emerge from the study. It is a rapidly changing and evolving sector. People are only beginning to wake up to its vast possibilities. A study like this can attempt to guide the future of the industry based on current trends.

The researcher To facilitate and provide all the useful information of the study, the company, the insurance industry and also provide marketing ways, methods of ICICI Prudential Life Insurance Co

REVIEW of LITERATURE

Review of literature1.Media exposure in rural market The rural middle-class constitutes a potential market lying to be tapped by any industry. There are 16.4 million urban middle-class households and 15.6 million rural middle class households in the country, but the latter had a better purchasing power because they do not incur any expenditure on rent, transport and school fees, compared to their urban counterparts, who spend a sizable portion of their income on these items. The estimated annual business from rural markets was Rs 1,23,000 crore, comprising Rs 65,000 crore of FMCG, Rs 5,000 crore of durables, Rs 45,000 crore of agricultural inputs including tractors and Rs 8,000 crore of two-wheelers and four-wheelers. 29% of the rural people own cars, 27%t own colour televisions, 24% own refrigerators and 10% own washing machines, which points to the untapped potential in the rural areas. Another revealing aspect of the market is that 55% of the LIC policies, 50% of the

BSNL mobile connections, 53% of the FMCG products, 59% of durables, 60%of Rediffmail sign-ups and 50% of online shopping on Rediffmail are accounted for by the rural sector.TV impact: The dressing style of the rural people has also changed due to the impact of the TV. Studies revealed that TV advertisements are not understood by the rural people who think "they are for the rich". "Being sensitive and relevant to the requirement of the region should be of utmost importance in the choice of products, packaging, pricing, promotions, markets and communication," Johnston, Jarrod and Madura J.Valuing the potential transformation of banks into insurance service conglomerates: Evidence from the Citigroup mergerThe Financial review 35 (2000): 17-36.The authors first summarize previous literature that examined motives for combining bank and other insurance services. Diversification benefits and product complementarities (i.e. mortgage and mortgage insurance, auto financing and auto insurance) seem to be the prime motives. However, some earlier research also suggests that there are few linkages between bank services ands underwriting services in terms of customers, outlets, or other characteristics that generate efficiencies. Given the sources of potential gains, it appears that life insurance companies with their limited underwriting risk and wide variety of other products offered to individual customers would be more attractive targets for banks than other types of insurance companies.Based on these observations, the authors propose to test whether commercial banks, insurance companies, and advertisement firms were favorably affected by the Citigroup/Travelers merger for impending consolidation of financial services firms. They measure the valuation effects resulting from the merger announcement among those commercial banks and financial services firms most likely to be affected and conclude that commercial banks, insurance companies, and advertisement firms have all experienced positive and significant valuation effects upon the announcement of the Citigroup merger. However, the authors find that the valuation effects are more favorable for brokerage firms than for commercial banks and for insurance companies.Finally, the authors perform a cross-sectional analysis which concludes that the largest banks and the largest brokerage firms experience more favorable valuation than the smaller banks or smaller brokerage firms. Size does not seem to be significant for insurance companies Walker, Marcus (2002).Germanys Commerzbank Is Still in No Mans Land.The Wall Street Journal, 7/12/02.This article on the state of the Commerzbank mentions that tightly focused insurance with strong market shares, such as U.K. insurasnce banks, have made money. Diversified universal banks with no dominant market share such as Commerz bank or Frankfurt rival Dresdner Bank AG have slipped to losses in some quarters, raising doubts about their long term viability.

Elisabetta CorviAssociate Professor of Economics and Business ManagementUniversity of Bresciacorvi@eco.unibs.it

Michelle Bonera (corresponding author)Assistant Professor of Economics and Business ManagementUniversity of Bresciambonera@eco.unibs.it

Corporate advertising:How a company does announced a name change especially when the old name was well known? How does the company explain itself to constituents who may have known the company quite well in an earlier incarnation but may be struggling to figure out what the new organization stands for? How can the company create a new image while retaining the strengths of the old one? And what role might corporate advertising play in all this? Corporate advertising can tell a story about a company as a whole, large organizations may need to use corporate ads to simplify their image in the minds of key constituents and to show what unifies the company, despite the geographical spread and variety of its businesses.We can very well understand the concept of corporate advertising by taking the example of ICICI Prudential communication. When Company first began operations, the task was to present the visiting card of the company to the public at large and build credibility and stature and to give the consumer the confidence that ''here is a company that can be trusted to invest funds with.'' This required a corporate campaign - to establish the brand, build awareness and give the brand a larger-than-life image. The advertising idea, which was encapsulated in symbols of protection from the initial print campaign, culminated in the corporate film where sindhoor was used as an endearing and lasting symbol of protection. Once the corporate image and brand identity were established, and as the company expanded and its product range grew, the next phase of communication was to give the consumer a rational and tangible reason to buy - first of all insurance and secondly from ICICI Prudential Life. This was tackled through product-specific advertising, such as for ICICI Pru Smart Kid, retirement solutions or Life Time.

Affect of advertising in brand building:Brand building through corporate advertising, defined generally as advertising that benefits a companys image by emphasizing its own resources, skills and/or character. Many astute business people now recognize corporate brands as fundamental business assets, and have begun reaching out to customers, prospects, and the financial community by advertising those brands. Brand building advertising is synonymous with product advertising and is commonly seen in traditional mass media, including TV, radio, magazine, and newspaper. Brand building advertisements tend to be product/service- (or retailer-) oriented with the purpose to establish a positive image and creating demand for a product or service that leads to eventual purchase. The communication route is typically one-to-many and is designed to reach a mass audience by using a tactic of at capturing the attention of users. Research methodologyResearch methodology is a strategy that guides a research in providing answers to research questions and for this, research survey is being done. Accuracy of the study depends on the systematic application of the method. The researcher has to decide the method to be used that helps him to get a desired direction in a systematic way. This study in the following manner. Methodology adoptedQuestionnaire design:The questions were designed in an easily understandable way with the help of (Faculty Guide) .That the respondents may not have any difficulty in answering them. The questionnaire also contained a comments section. This section was included so as to get opinion of the people regarding the ICICI Prudential Life Insurance. For eg.(Q1.) Which media you mostly use for information?(Q2.) On which channel you saw insurance ad mostly?

Random samplingSampling can be defined as a part of population. Thus random sampling may be defined as the selection of a portion from the whole population in which each elements of the population has an equal chance of being selected. A more please definition is that each element in the population has a non-zero and known probability of selection a randomly drawn sample is an unbiased sample. In this research survey 50 people were surveyed at random to get the relevant information.. Sample unit: The respondents who were asked to fill out questionnaires are the sampling units. These comprise of employees of MNCs, Govt. Employees, and Self Employed etc. Sample size: The sample size was restricted to only 50 between age group of 25-40, which comprised of mainly peoples from different regions of India. Sample area: The area of the research was Delhi Metro Railway Quarters, New Delhi, India.

Data collection

Structure questionnaire :In this collection data, structured questionnaire is used as a tool by asking a set of standardized questions to know the effect of Life Insurance Advertisement and behavior of the people for the ICICI Prudential Life Insurance. Interview:The next step involved in collecting information requires discussion with people. Thus valuable information was gathered informal friendly talks with the people.

Secondary data collection: Various websites were consulted to collect literature relevant to the topic.

Interpretation:Interpretation refers to the task of drawing inference from the collected facts after an analytical study, in fact it is a search for broader meaning of research findings it is through interpretation that the researcher can well understand the abstract principle that respondents beneath his findings. The simple statistical tools will used to analyze the data collection, Bar Graphs and pie chart have been used to illustrate the findings diagrammatically. The scores for advertisement were compiled on spontaneous recall, aided recall and likeability. The top ads are selected on the basis of their score.

DATA ANALYSIS

Data AnalysisIt includes advertisement scenario of insurance industry in the soaring mass market available in India based on the survey conducted 1) Q1. Which media you mostly use for information/entertainment? Percentage Responses Tele Vision 42.0 21Newspaper 36.0 18Internet 14.0 7Radio 8.0 4Total responses: 50

36% people recommend newspaper for info. 42% tv, 14% internet and and 8% radio.

Q2. How often do you share interesting advertising with your family or friends? Percentage Responses Never 8.0 4 Rarely 28.0 14 Sometimes 52.0 26 Often 8.0 4 Very often 4.0 2 Total responses: 50

According to the above fig. 52% sometime like to share with friend and family, 28 % rarely share 8% often and 8% never.

Q3. Have you saw any Life Insurance Product Ad? Percentage Responses Yes 96.0% 48No 4.0% 2Total responses: 50

96% people like seeing lic ad and there are very few who didnt see.

Q4. On Which channel you saw Insurance ad mostly? Percentage Responses Zee T.V 14.0 7 Sony 26.0 13 Star 4.0 2 News Channel 56.0 28 Total responses: 50

56% likely to see insurance ad on news channel. 26% on sony tv 14% on zee tv. And 4% on star...tv.

Q5. Which company ad you find mostly? Rank Them.. Average Score Responses Life Insurance Corporation of India 1.22 / 5 50HDFC Std. Life Insurance Co. Ltd. 2.84 / 5 50Birla Sun Life Insurance Co. Ltd. 3.96 / 5 50ICICI Pru. Life Insurance Co. Ltd. 2.16 / 5 50Reliance Life Insurance Co. Ltd. 4.82 / 5 50 4.82 / 5 Above fig. Say that27% people mostly find birla life insurance 14% icici 32% reliance life insurance 8% lic of india and 19% hdfc....

Q6. Can you recall the content of the Ad of any life insurance company? Percentage Responses Yes 94.0% 47No 6.0% 3Total responses: 50

Above fig. Say that The punch line of ad were so exiting that 94% people can easily recall the ad. And 6% not.

Q7. Before buying a product do you pay attention to the Brand Name? Percentage Responses Yes 80.0% 40No 20.0% 10Tot al responses: 50

Above fig. Say that 80% say yes paying attention on brand and 20% say no.

Q8. Which of the Insurance Policy would you like to buy? Average Score Responses Life Plan 1.66 / 4 50Health Plan 2.36 / 4 50Child Plan 2.28 / 4 50Retirement Plan 3.70 / 4 501.70 / 4

In today scenario we find the people were more secure about there child future plan that why 23% of people focus on child plan and 37% on retirement plan. 17% on life plan 23% on health plan.

Q9. Other than T.V Where you saw Life insurance ad? Average Score Responses Internet 2.14 / 5 50Newspaper 1.36 / 5 50Holdings 2.78 / 5 50Friends/Family 4.10 / 5 50Radio 4.62 / 5 50 4.62 / 5

Above fig. Say 31% see the ad on radio 14% on internet 9% on newspaper and 27% through friends and family .

Q10. Do you think this ad has influence you to..... Percentage