RESEARCH REPORT ON- CONSUMER AWARENESS SURVEY- “a study on consumer awareness to determine the potential market of HDFC LIFE products and plans.” BY- ANURAG DUBEY ROLL NO. 1212470029 UNDER THE GUIDENCE

INSTITUTIONAL GUIDE- ORGANISATIONAL GUIDE-Mr. Anjum Zia Rizvi Mr. Aman TandonAsst. Professor Sales Development ManagerICCMRT, Lucknow HGFC Life, Lucknow

ABOUT HDFC LIFE HDFC Standard Life Insurance company is a joint

venture between HDFC LTD (Indias leading housing finance institution ) and Standard Life Plc from UK.

HDFC Limited holds 72.43% equity.

Standard life holds 26% equity.

COMPETITORS

PRODUCTS OFFERED BY HDFC LIFE Protection Plans.Health Plans.Children Plans.Saving Plans.Investment Plans.Retirement Plans.

SWOT ANALYSIS

STRENGTH-1- Company stands third in private insurance companies.2- Company has got more awards then any other companies

in last five years.

WEAKNESSES-1- Company have not declare any kind of bonus or dividend in

last six years.2- Absence of Board Of Directors in company meetings due to

intersection dispute.

OPPORTUNITIES-1- Establish new policies in industrial sector & automobile

sector.2- Recover the area of lost in recession.

THREATS-1- Increasing competitors in market.2- Fear of establishment of beneficial policies from LIC.

OBJECTIVE OF STUDY

To study the consumer awareness about HDFC Life products and plans.

To understand the awareness and perception of respondents towards insurance.

To understand the growth of HDFC Life in todays scenario in Lucknow city.

To analyse the investment strategies of respondents.To know the present consumer trend prevailing in the

market.

RESEARCH METHODOLOGY

Research Design- Exploratory Research.

Sample Design- Random Sampling Technique.

Sample Size- 40 Respondents.

DATA ANALYSISQUESTION- Are you aware anything about HDFC Life.RESPONSE-

QUESTION- How do you come to know about ?RESPONSE-

yes73%

no28%

EXECUTIVE11%

FRIENDS11%

TV33%NEWS PAPER

7%

PAMPHLET7%

INTERNET19%

HOARDINGS4%

OTHER7%

.

QUESTION- Do you want to invest in HDFC Life?RESPONSE-

QUESTION- In which HDFC Life plan you want to invest?RESPONSE-

YES55%

NO45%

IN-VEST-MENT PLAN27%

SAVING PLAN27%

PENSION PLAN

9%

HEALTH PLAN

9%

CHILDREN PLAN14%

ULIP9%

OTHERS5%

QUESTION- In which company have you invested your money?RESPONSE-

LIC

HDFC Lif

e

ICICI Prudential

Bajaj A

llianz

SBI Li

fe

Reliance

IDBI Federal

Bharti AXA

Others0

2

4

6

8

10

12

14

16

QUESTION- Your saving consist of?RESPONSE-

NSC10%

BANK FD8%

SHARES15%

LAND/BUILD-INGS25%

LIFE IN-SURANCE

20%

GOLD8%

PPF5%

OTHERS10%

Sales

QUESTION- What do you expect from an insurance plan?RESPONSE-

SECURITY HIGHER RETURN

SAVINGS0

2

4

6

8

10

12

14

16

18

20

Series 1

FINDINGS1- The findings says that more then 70% of respondents are

aware of HDFC Life and also interested to know more about HDFC Life.

2- More then 50% respondents wants to invest in HDFC Life especially in Investment, Saving and Children plans.

3- HDFC Life is fourth most preferable insurance company in Lucknow city.

4- TV and INTERNET are the most effective ways of communication to the customer.

5- People in Lucknow mainly prefer to invest in Land & Buildings and Insurance.

SUGGESTIONS1- HDFC Life must target people of early age and not only the

older age people because in this survey respondents age between 18 to 35 are showing interest in investing private insurance companies.

2- Communication to the customer must be done mainly by TV and Internet.

3- Company must awaken the peoples regarding their family security , this can be done through an innovative campaign saying “The decision is now”.

4- People in Lucknow city expects mainly higher return, so the HDFC Life must advertise some higher plans of the company.

CONCLUSION• From the survey analysis it was found that in Lucknow

City about 30% of respondents are unaware about HDFC Standard Life Insurance Plans and Policies.

• In this survey it was also found that more number of respondents have not yet decided in which company they want to invest, however in their responses it seems that they are interested to invest their money in HDFC Standard Life Insurance. In short many respondents are still not decided to in which company they have to invest their money. So the company has an opportunity to attract these people by giving them attractive offers to grab the market share.

THANKYOU