Brand Awareness and Customer Preferences Study of ICICI Prudential Life Insurance

A Project Report On
“A STUDY ON BRAND AWARENESS AND CUSTOMER
PREFERENCES ABOUT ICICI PRUDENTIAL LIFE INSURANCE IN
CHENNAI CITY.”
By
Mr. S.ANTONY PRABHU
(Registration number: 32006631004)
Of
SRR ENGINEERING COLLEGE, PADUR, CHENNAI-603103
A project report
(BA-1719 Summer Project Report)
Submitted to
FACULTY OF MANAGEMENT SCIENCES
In partial fulfillment of the requirementsfor the award of the degree of
MASTER OF BUSINESS ADMINISTRATION
ANNA UNIVERSITY
AUGUST-2008

SRR ENGINEERING COLLEGE
PADUR, CHENNAI-603103
DEPARTMENT OF MANAGEMENT STUDIES
15.04.2008
CERTIFICATE
This is to certify that the project report on “A STUDY ON BRAND
AWARENESS AND CUSTOMER PREFERENCES ABOUT
ICICIPRUDENTIAL LIFE INSURANCE IN CHENNAI CITY.”
Is a bonafide summer project work done by Mr. S.ANTONY PRABHU, a full
time student of the department of management studies, SRR Engineering
College, in partial fulfillment of the requirements for the award of the degree of
Master Of Business Administration of Anna University, during the year 2006-
2008.
PROF.G.DILEEP
Head of the Department MR.R. RADHAKRISHANAN
Faculty Guide

DECLARATION
I , S.ANTONY PRABHU a bonafide student of Department of
management Studies, S.R.R Engineering college, Old Mamallapuram
Road, Padur, Chennai-603103,Would like to declare that the project entitled
“A STUDY ON BRAND AWARENESS AND CUSTOMER
PREFERENCES ABOUT ICICIPRUDENTIAL LIFE INSURANCE IN
CHENNAI CITY.”in partial fulfillment of MBA Degree course of the
ANNA UNIVERSITY is my original work.
Place: S.ANTONY PRABHU
Date:
(Reg.No.32006631004)

ACKNOWLEDGEMENT
At the outset, I praise the lord. The almighty for his abundance of grace in
giving me health, knowledge, wisdom and strength to take up this project
and complete it in time. I was fortunate to have the assistance of many
people in this effort.
I am immense pleasure to thank my family to help me to finish my
projects
I am indebted to Honorable Founder & chairman Dr.JEPPIAAR, M.A.,
B.L., PhD, for his sincere endeavor in educating us in his Premier
Institution.
My sincere regards are also due to our beloved & Head of the Department,
prof.G. DILLEP for giving necessary support during this project.
I would like to thank, MR. MR.R. RADHAKRISHANAN
Faculty Guide, for successful completion of the project work.
I wish to express my thanks to all our Department staffs, for their valuable
suggestion during the period of my project work.
I would like to place my graceful thanks to SPA Capital Service for
allowing me to carry out the study for motivating me to complete the project
work in time.
I would like to thank my colleagues and my friends for the valuable support
and contribution to the completion of my project.
S.J.ANTONY PRABHU

TABLE OF CONTENTS
S.NO. CONTENTS
PAGE
NO
University title format I
Company Certificate II
List of Tables VII
List of Charts
IX
List of abbreviations
XI
1 Introduction 1
2 Company profile 4
3 Industry profile 7
4 Product profile 15
5
RESEARCH METHODLOGY
a. statement of the problem
b. Need of the Study
c. Objectives of the Study
d. Sampling size and type
e. Methodology
f. Tools for data collection
g. Tools for data analysis
h. Scope of the Study
18
19
20
21
22
23
24
26

6
i. Limitations of the Study
Analysis and interpretation
27
7
FINDINGS & CONCLUSION
 Findings
 Suggestions
 Conclusion
55
56
5657
8 BIBLIOGRAPHY 58
9 APPENDIX & ANNEXURES 59
57

LIST OF TABLES
S.No. TITLE OF THE TABLE
Page
No.
1 GENDER 28
2 AGE OF THE RESPONDENTS 29
3 GRADE LEVEL/OCUPATION 30
4 EDUCATION QULIFICATION 31
5 INCOME PER MONTH 32
6
AWARENESS ABOUT THE HL OF ICICI
ANGAYARKANNI MARKETING PVT LTD
33
7
WHICH BANKS COMES YOUR MIND FIRST
TO GET HOME LOAN
34
8 HOW DO YOU KNOW ABOUT A.M.P.LTD 35
9
TO WHAT EXTEND YOU GO BY GETTING HL
FROM THE BANK
36
10
INTEREST RATE OF ICICI ANGAYARKANNI
MARKETING PVT LTD
37
11
TO GET NEW HL ,WHICH BANK YOU WOULD
PREFER
38
12 ELIGIBILITY CRITERIA OR PROCEDURES 39
13 TIME TAKEN TO SANCTION THE LOAN 40
14 OPTION OF REPAYING THE LOAN 41
15
HOW MANY TIME YOU CONTACTED THE
BANK TO GET HL
42
16 CONSULTANCY SERVICES OF THE 43

COMPANY
17 DIFFICULTIES OR INCONVENIENCE 44
18 HAVE YOU RECOMMENDED ANY PERSON 45
19 NUMBER OF PEOPLE RECOMMENDED 46
20 REASON FOR CHOSING 47
21
NUMBER OF YEARS ASSOCIATED WITH
A.M.P.LTD
48
22
HOW DO YOU GET MORE INFORMATION
ABOUT A.M.P.LTD
49
LIST OF CHARTS

S.No. TITLE OF THE CHARTS
Page
No.
1 GENDER 28
2 AGE OF THE RESPONDENTS 29
3 GRADE LEVEL/OCUPATION 30
4 EDUCATION QULIFICATION 31
5 INCOME PER MONTH 32
6
AWARENESS ABOUT THE HL OF ICICI
ANGAYARKANNI MARKETING PVT LTD
33
7
WHICH BANKS COMES YOUR MIND FIRST
TO GET HOME LOAN
34
8 HOW DO YOU KNOW ABOUT A.M.P.LTD 35
9
TO WHAT EXTEND YOU GO BY GETTING HL
FROM THE BANK
36
10
INTEREST RATE OF ICICI ANGAYARKANNI
MARKETING PVT LTD
37
11
TO GET NEW HL ,WHICH BANK YOU WOULD
PREFER
38
12 ELIGIBILITY CRITERIA OR PROCEDURES 39
13 TIME TAKEN TO SANCTION THE LOAN 40
14 OPTION OF REPAYING THE LOAN 41
15
HOW MANY TIME YOU CONTACTED THE
BANK TO GET HL
42
16
CONSULTANCY SERVICES OF THE
COMPANY
43
17 DIFFICULTIES OR INCONVENIENCE 44
18 HAVE YOU RECOMMENDED ANY PERSON 45

19 NUMBER OF PEOPLE RECOMMENDED 46
20 REASON FOR CHOSING 47
21
NUMBER OF YEARS ASSOCIATED WITH
A.M.P.LTD
48
22
HOW DO YOU GET MORE INFORMATION
ABOUT A.M.P.LTD
49
LIST OF ABBREVIATIONS
ICICI- INDUSTRIAL CREDIT AND INVESTMENT
CORPORATION OF INDIA
A.M.P.LTD- ANGAYARKANNI MARKETING PRIVATE LIMTED
PL- PERSONAL LOAN
CL- CAR LOAN
CC- CREDIT CARDS
AL- AGRICULTURAL LOANS

SBL- SMART BUSINESS CARDS
BS- BUSINESS CARDS
TW- TWO WHEELERES
HL- HOME LOAN
CVL- COMMERCIAL VEHICLE LOAN
LAC- LAKES
DOF- DEGREES OF FREEDOM
NRI- NON RESIDENTIAL INDIAN
CRM- CUSTOMER RELATIONSHIP MANAGEMENT
1. INTRODUCTION
1.1ABOUT THE INSURANCE INDUSTRY
Insurance is primarily collective cooperation to share a particular risk.
This concept is as old as the dawn of human civilization. The joint family

system in India is an example of concept of life insurance is considered to be
the oldest branch of insurance for providing protection against loss/damage in
sea voyages.
Life insurance in its modern from came to India from England in 1818 with
the formation of oriental life insurance Company in Calcutta. By 1968 there
were 285 companies doing business of insurance in India. These companies
were offered insurance with an extra premium of 15 to 20% over European
lives.
Bombay life Assurance Society was the first Indian Company started in
1870 that started insuring Indians at standard rates. Oriental Government
security life assurance Company established in 1874 became a leading Indian
insurance company.
Life Insurance business in India was nationalized by an ordinance on 19
Jan 1956.LIC Act was passed in July 1956 LIC of India started in operation on
Sep 1956. Prior to nationalization of insurance business there were 245
companies. Which were merged with LIC.
General insurance industry in India was nationalized in the year 1972 by
merging 107 companies with effect from 1st
Jan 1973. GIC (General insurance
company) of India and its subsidiary companies i.e. New India Assurance
Company. Oriental insurance company, National Insurance Company, United
India insurance company started operations in general insurance business.
With the passing of IRDA Act 1999, the insurance sector was opened up, and
private insurance companies were allowed to enter life/Non insurance business
with a maximum of 26% participation by a foreign partner.
Presently there are 14 Life insurance Companies and 14 NON-Life
insurance Companies operating in the insurance market.
1.1.1 ABOUT IRDA
Composition of Authority under IRDA Act, 1999

As per the section 4 of IRDA Act’1999, Insurance Regulatory and
Development Authority (IRDA, which was constituted by an act of parliament)
specify the composition of Authority.
The Authority is a ten-member team consisting of
a. a Chairman
b. five whole-time members
c. four part-time members
(All appointed by the Government of India)
Duties, Power and Functions of IRDA
Section 14 of IRDA Act, 1999 lays down the duties, powers and functions of
IRDA…

1. Subject to the provisions of this Act and other law for the time being in
force, the Authority shall have the duty to regulate, promote and ensure
orderly growth of the insurance business and re- insurance business.
2. Without prejudice to the generality of the provisions contained in sub-
Section(1), the powers and functions of the Authority shall include,-
a. Issue to the applicant a certificate of registration, renew, modify,
withdraw, suspend or cancel such registration.
b. Protection of the interests of the policy holders in matters
concerning assigning of policy, nomination by policy holders,
insurable interest, settlement of insurance claim, surrender value
of policy and other terms and conditions of contracts of insurance.
c. Specifying requisite qualifications, code of conduct and practical
training for intermediary or insurance intermediaries and agents.
d. Specifying the code of conduct for surveyors and loss assessors.
e. Promoting efficiency in the conduct of insurance business.
IMPORTANT OF THE STUDY
 The study is immense important to analyze the various products
of icici prudential in Chennai city
 Comparative study will clearly tell the positive and negative
side of the statements.

 Firstly the important of study is to find out customer preference
towards the ICICI prudential insurance in Chennai.
 Secondly the study is important to give the brand awareness
about the products of icici prudential life insurance..
 Thirdly the important of study is to find the investment
objective and expectation of customer towardes icici prudential
life insurance.
 Last but not the least study is also important for providing good
Services to icici prudential life insurance customers

3. OBJECTIVES
3.1 PRIMARY OBJECTIVE:
To study the customer preferences and brand awareness of ICICI
Prudential products in Chennai city.
3.2 SECONDARY OBJECTIVE:
a) To compare the ICICI Prudential insurance product with other
insurance product.
b) To know the perception of ICICI Prudential insurance products.
c) To identify the promotional strategies of ICICI product.
History of Banking in India

Without a sound and effective banking system in India it cannot have
a healthy economy. The banking system of India should not only be hassle
free but it should be able to meet new challenges posed by the technology
and any other external and internal factors.
For the past three decades India’s banking system has several
outstanding achievements to its credit. The most striking is its extensive
reach. It is no longer confined to only metropolitans or cosmopolitans in
India. I fact; Indian banking system has reached even to the remote corners
of the country. This is one of the main reasons of India’s growth process.
The government’s regular policy for Indian Bank since 1969 has paid
rich dividends with the Nationalization of 14 major private banks of India.
Not long ago, an account holder had to wait for hours at the bank
counters for getting a draft or for withdrawing his own money. Today, he
has a choice. Gone are days when the most efficient bank transferred money
from one branch to other in two days.
Now it is simple as instant messaging or dial a pizza. Money have
become the order of the day.

The first bank in India, though conservative, was established in 1786.
from 1786 till today, the journey of Indian Banking System can be
segregated into three distinct phases. They are as mentioned below.
 Early phase from 1786 to 1969 of Indian banks
 Nationalization of Indian banks and up to 1991 prior to Indian
banking sector reforms
 New phase of Indian banking system with the advent of Indian
financial & banking sector reforms after 1991.
To make this write-up more explanatory, I prefix the scenario as phase
I, phase II and phase III.
Phase I
The general bank of India was set up in the year 1786. Next came
bank of Hindustan and Bengal bank. The east India company established
bank of Bengal (1809), bank of Bombay (1840) and bank of madras (1843)
as independent units and called it presidency banks. These three banks were
amalgamated in 1920 and imperial bank of India was established which
started shareholders bank, mostly Europeans shareholders.

In 1865 Allahabad bank was established and first time exclusively be
Indians, Punjab national bank was set up in 1894 with headquarters at
Lahore. Between 1906 and 1913, bank of India, bank of baroda, canara
bank, Indian bank, and bank of mysore were set union bank of India came in
1935.
During the first phase the growth was very slow and banks also
experienced periodic failure 1913 and 1948. There were approximately 1100
banks, mostly small. To streamline the and activities of commercial banks.
The government of India came up with the banking act 1949 which was later
changed to banking regulation act 1949 as per amending act no 23 of 1965 ).
Reserve bank of India was vested with extensive powers for the superior
banking in India as the central banking authority.
During those days public has lesser confidence in the banks. As an
aftermath deposit mobil slow. Abreast of it the savings bank facility
provided by the postal department was comparative moreover, funds were
largely given to traders.
Phase II
Government took major steps in this Indian banking sector reform
after independence. Nationalized imperial bank of India with extensive
banking facilities on a large scale special and semi-urban areas. It formed

state bank of India to act as the principal agent of RBI an banking
transactions of the union and state governments all over the country.
Seven banks forming subsidiary of state bank of India was
nationalized in 1960 on 19th
major process of nationalization was carried out.
It was the effort of the then prime minister Mrs. Indira Gandhi. 14 major
commercial banks in the country was nationalized.
Second phase of nationalization Indian banking sector reform was
carried out in 1980 more banks. This step brought 80% of the banking
segment in India under government own.
The following are the steps taken by the government of India to
regulate banking institute country.
 1949: enactment of banking regulation act.
 1955: nationalization of state bank India.
 1959: nationalization of SBI subsidiaries.
 1961: insurance cover extended to deposits.
 1969: nationalization of 14 major banks.
 1971: creation of credit guarantee corporation.
 1975: creation of regional rural banks.
 1980: nationalization of seven banks with deposits over 200 crore.

After the nationalization of banks, the branches of the public sector
bank India rose to apply 800% in deposits advances took a huge jump by
11,000%.
Banking in the sunshine of government ownership gave the public
implicit faith and confidence about the sustainability of these institutions.
Phase III
This phase has introduced many products and facilities in the banking
sector in measure. In 1991, under the chairmanship of M Narasimhan, a
committed was set up by which worked for the liberalization of baking
practices.
The country is flooded with foreign banks and their ATM stations.
Efforts are being satisfactory service to customers. Phone banking and net
banking is introduced. The end become more convenient and swift. Time is
given more importance than money.
The financial system of India has shown a great deal of resilience. It is
sheltered from triggered by any external macroeconomics shock as other
east asian countries suffered due to a flexible exchange rate regime, the

foreign reserves are high, the capital account is convertible, and banks and
their customers have limited foreign exchange exposure.
In India there are 27 Public sector banks, 31 Private banks and 29 Foreign banks. The
Indian banking sector is headed for consolidation. The presence of many regional
players will see few banks emerging as global competitors.
The following are the Scheduled Banks in India (Public Sector):
• State Bank of India
• State Bank of Bikaner and Jaipur
• State Bank of Hyderabad
• State Bank of Indore
• State Bank of Mysore
• State Bank of Patiala
• State Bank of Saurashtra
• State Bank of Travancore
• Andhra Bank
• Allahabad Bank
• Bank of Baroda
• Bank of India
• Bank of Maharashtra
• Canara Bank
• Central Bank of India
• Corporation Bank
• Dena Bank
• Indian Overseas Bank

• Indian Bank
• Oriental Bank of Commerce
• Punjab National Bank
• Punjab and Sind Bank
• Syndicate Bank
• Union Bank of India
• United Bank of India
• UCO Bank
• Vijaya Bank
The following are the Scheduled Banks in India (Private Sector):
• Vysya Bank Ltd
• UTI Bank Ltd
• Indusind Bank Ltd
• ICICI Banking Corporation Bank Ltd
• Global Trust Bank Ltd
• HDFC Bank Ltd
• Centurion Bank Ltd
• Bank of Punjab Ltd
• IDBI Bank Ltd
The following are the Scheduled Foreign Banks in India:
• American Express Bank Ltd.
• ANZ Gridlays Bank Plc.
• Bank of America NT & SA
• Bank of Tokyo Ltd.
• Banquc Nationale de Paris
• Barclays Bank Plc

• Citi Bank N.C.
• Deutsche Bank A.G.
• Hongkong and Shanghai Banking Corporation
• Standard Chartered Bank.
• The Chase Manhattan Bank Ltd.
• Dresdner Bank AG.
Reserve Bank of India (RBI)
Reserve bank of India (RBI) is the central bank of the country and is
different from central bank of India.
The central bank of the country is the reserve bank of India (RBI). It
was established in April 1935 with a share capital of Rs.5crores on the basis
of the recommendations of the Hilton Young Commission. The share capital
was dividend into share of Rs.100 each fully paid which was entirely owned
by private shareholders in the beginning. The government held shares of
nominal value of Rs.2, 20,000.
Reserve bank of India was nationalized in the year 1949. the general
superintendence and direction of the bank is entrusted to central board
directors of 20 members, the governor and four deputy governors, one
government official from the ministry of finance, ten nominated directors by

the government to give representation to import elements in the economics
life of the country, and four nominated directors by the central government
of represent the four local boards with the headquaters at Mumbai, Kolkotta,
Chennai and New Delhi. Local boards consist of five members each central
government appointed for a term of four years to represent territorial and
economic interests and the interests of cooperative and indigenous banks.
The reserve bank of India act, 1934 was commenced on April 1, 1935.
The act 1934 (II of 1934) provides the statutory basis of the functioning of
the bank.
The bank was constituted for the need of following:-
 To regulate the issued of banknotes
 The maintain reserves with a view to securing monetary stability.
 To operate the credit and currency system of the country to its
advantage.
Functions of Reserve bank of India
The Reserve bank of India act of 1934 entrust all the important
functions of a central bank the Reserve Bank of India.

Bank of issue
Under section 22 of the reserve bank of India act, the bank has sole
right to issue all denominations. The distribution of one rupee notes and
coins and small coins all over the undertaken by the reserve bank as agent of
the government. The reserve bank has issue department which is entrusted
with the issue of currency notes. The assets and liabilities issue department
are kept separate from those of the banking department. Originally, the
issue department were to consist of not less than two-fifths of gold coin,
gold bullion securities provided the amount of gold was not less than Rs.40
crores in value. The remain fifths of the assets might be held in rupees coins,
government of India rupee securities, eligible exchange and promissory
notes payable in India. Due to the exigencies of the second word the post-
was period, these provisions were considerably modified. Since 1957, the
reserve bank of India is required to maintain gold and foreign exchange
reserves of Rs.200of which Rs.115 crores should be in gold. The system as
it exists today is known as the minimum system.
Banker to government
The second important function of the reserve bank of India is to act as
government bank and advice. The reserve bank is agent of central

government and of all state government excepting that of jammu and
Kashmir. The reserve bank has the obligation to transact business, via. To
keep the cash balances as deposits free of interest, to receive and to make on
behalf of the government and to carry out their exchange remittances and
other operations. The reserve bank of India helps the government-both the
union and the state new loans and to manage public debt. The bank makes
ways and means advance governments for 90 days. It makes loans and
advances to the states and local authorities adviser to the government on all
monetary and banking matters.
Bankers’ bank and lender of the last resort
The reserve bank of India acts as the bankers’ bank. According to the
provisions of the companies act of 1949, every scheduled bank was required
to maintain with the reserve bank balance equivalent to 5% of its demand
liabilities and 2 per cent of its time liabilities in amendment of 1962, the
distinction between demand and time liabilities was abolished have been
asked to keep cash reserves equal to 3 percent of their aggregate deposit
liabilities minimum cash requirements can be changed by the reserve bank
of India.
The scheduled bank can borrow from the reserve bank of India on the
basis of eligible get financial accommodation in times of need or stringency
by rediscounting bill of exchange commercial banks can always expect the

reserve bank of India to come to their help banking crisis the reserve bank
becomes not only the banker’s bank but also the lender resort.
Controller of credit
The reserve bank of India is the controller of credit i.e. it has the
power to influence the credit created by banks in India. It can do so through
change the bank rate or through of operations. According to the banking
regulation act of 1949, the reserve bank of India come particular bank or the
whole banking system not to lend to particular groups or persons on the
certain types of securities. Since 1956, selective controls of credit are
increasingly being reserve bank.
The reserve bank of India is armed with many more powers to control
the Indian money every bank has to get a licence from the reserve bank of
India to do banking business the licence can be cancelled by the reserve
bank of certain stipulated conditions are every bank will have to get the
permission of the reserve bank before it can open a new scheduled bank
must send a weekly return to the reserve bank showing. In detail, its
liabilities. This power of the bank to call for information is also intended to
give it effective credit system. The reserve bank has also the power to
inspect the accounts of any commence.
As supreme banking authority in the country, the reserve bank of
India, therefore, has the powers:

a) It holds the cash reserves of all the scheduled banks.
b) It controls the credit operations of banks through quantitative and
qualitative controls.
c) It controls the banking system through the system of licensing,
inspection and information.
d) It acts as the lender of the last resort by providing rediscount facilities
to scheduled bank.
Custodian of Foreign Reserves
The reserve bank of India has the responsibility to maintain the
official rate of exchange. A reserve bank of India act of 1934, the bank was
required to by and sell at fixed amount of sterling in lots of not less than
Rs.10,000. The rate of exchange fixed was since 1935 the bank was able to
maintain the exchange rate fixed at lsh.6d. Though there was of extreme
pressure in favour of or against.
The rupee. After India became a member of the international monetary fund
in 1946, the bank has the responsibility of maintaining fixed exchange rates
with all other member court I.M.F

Besides maintaining the rate of exchange of the rupee, the reserve bank has
to act as the of india’s reserve of international currencies. The vast sterling
balances were acquired and by the bank. Further, the RBI has the
responsibility of administering the exchange country.
Supervisory functions
In addition to its traditional central banking function, the reserve bank
has certain not functions of the nature of supervision of banks and promotion
of sound banking in India. The bank act, 1934, and the banking regulation
act.1949 have given the RBI wide powers of the control over commercial
and cooperative bank, relating to licensing and establishment expansion,
liquidity of their assets, management and methods of working,
reconstruction, and liquidation. The RBI is authorized to carry out periodical
inspections and to call for returns and necessary information from them. The
nationalization of 14 scheduled banks in july 1969 has imposed new
responsibilities on the RBI for directing the banking and credit policies
towards more rapid development of the economy and realization desired
social objectives. The supervisory functions of the RBI have helped a great
deal in the standard of banking in India to develop on sound lines and to
improve the method operation.
Promotional functions
With economic growth assuming a new urgency since independence,
the range of the reserve functions has steadily widened. The bank now

performs a variety of developmental functions, which, at one time, were
regarded as outside the normal scope of central bank reserve bank was asked
to promote banking habit, extend banking facilities to rural and urban areas,
and establish and promote new specialized financing agencies. Accordingly,
the reserve bank has helped in the setting up of the IFCI and the SFC; it set
up the deposit insurance company in1962, the unit trust of India in 1964, the
industrial development bank of India also increase agricultural refinance
corporation of India in 1963 and the industrial reconstruction corporation
India in 1972. These institutions were set up directly or indirectly by the
reserve bank saving habit and to mobilize savings, and to provide industrial
finance as well as agricultural. As far back as 1935, the reserve bank of India
set up the agricultural credit department agricultural credit. But only since
1951the bank’s role in this field has become extreme. The bank has
developed the co-operative credit movement to encourage saving, money
lenders from the villages and to route its short term credit to agriculture. The
RBI has agricultural refinance and development corporation to provide long-
term finance to farmers.
Classification of RBIs functions
The monetary functions also known as the central banking functions
of the RBI are related and regulation of money and credit, ie, issue of
currency, control of bank credit, control exchange operations, banker to the
government and to the money market. Monetary function RBI are
signification as they control and regulate the volume of money and credit in
the country.

Equally important, however, are the non-monetary functions of the
RBI in the context economic backwardness. The supervisory function of the
RBI may be regarded as a non function (though many consider this a
monetary function). The promotion of sound banking an important goal of
the RBI, the RBI has been given wide and drastic powers, under the
regulation Act of 1949 – these powers relate to licencing of banks, branch
expansion, liquid assets, management and methods of working inspection
amalagamation reconstruct liquidation. Under the RBI’s supervision and
inspection, the working of banking has greatly commercial banks have
eveloped into financially and operationally sound and viable units powers of
supervision have now been extended to non-banking financial intemedia
independence, particularly after its nationalization 1949, the RBI has
followed the promotion vigorously and has been responsible for strong
financial support to industrial and development in the country.

1.2 COMPANY PROFILE:
ICICI Prudential Life Insurance Company is a joint venture between ICICI
Bank, a premier financial powerhouse and prudential plc, a leading
international financial services group headquartered in the United Kingdom.
ICICI Prudential was amongst the first private sector insurance companies to
being operations in December 2000 after receiving approval from Insurance
Regulatory Development Authority (IRDA).
ICICI Prudential’s equity base stands at Rs.11.85 billion with ICICI Bank
and Prudential plc holding 74% and 26% stake respectively. In the financial
year ended March 31,2005, the company garnered Rs.1584crore of new
business premium for a total sum assured of Rs.13, 780 crore and wrote nearly
615,000 policies. The company has a network of about 56,000 advisors; as well
as 7-bank assurance and 150 corporate agent tie-ups. For the past four years,
ICICI Prudential has retained its position as the No.1 private life insurer in he
country, with a wide range of flexible products that meet the needs of the
Indian customer at every step in life.
1.2.1HISTORY:
ICICI Prudential Life Company Limited is a 74:26 joint venture between ICICI
Bank and Prudential plc, UK. The company brings together the local market
expertise and financial strength of ICICI Bank and Prudential’s international
life insurance experience. The company was granted a Certificate of
Registration by the IRDA on November 24, 2000 and eighteen days later.
Issued its first policy on December 12.
From its early days, ICICI Prudential seemed to have the wherewithal
for a large-scale business. By March 31, 2002, a little over a year since
its launch, the company had issued 100,00 policies translating into a
premium income of approximately Rs.1, 200 million on a sum assured of
over Rs.23 billion.
When the company began its operations, the need was to build a
brand that was relatable to, symbolized trust and was easily recognized
and understood. It launched a corporate campaign using the theme of
‘Sin door’ to epitomize protection, trust, togetherness and all that is
Indian; endearing itself to the masses. The success of the campaign, ‘the
calling card of the company’, saw the brand awareness scores almost at
par with its 40-year-old competitor. The theme of protection was also
extended to subsequent product and category specific campaigns – from

child plans to retirement solutions – which highlight how the company
will be with its customers at every step of life.
From day one, the company has unflinchingly focused on being a
mass-market player, developing products, creating a distribution network
and deploying resources that would further its goal. Apart from ramping
up and thoroughly training its advisors, the company has twelve ‘Banc
assurance’ partners – the largest in the country. It swiftly revised and
added to its initial range of products, pioneering market-linked products
and pension plans, to offer customer the most flexible life insurance
policies in the country.
In February 2004, ICICI prudential increased its capital base by Rs.500
million, its ninth capital hike, bringing the total paid-up equity capital to
Rs.6, 750 million. With the authorized capital of the company standing
at Rs.12 billion, ICICI prudential continues to have the highest capital
base amongst all life insurance in the country. The challenge ICICI
prudential now faces is to retain its top-notch position and continue to
deliver the finest life insurance and pension solution to its ever-growing
customer base.
2. DISTRIBUTION:
ICICI prudential has one of the largest distribution networks amongst
private life insurers in India, having commenced operations in 110 cities
and towns in India, stretching from Bhuj in the west to Guwahati in the
east, and Amristsar in the north to Trivandrum in the south.
The company has seven banc assurance tie-ups, having agreements
with ICICI Bank, Federal Bank, South Indian Bank, Bank of India, Lord
Krishna Bank and some co-operative banks, as well as about 290
corporate agents and brokers. It has also tied up with NGOs, MFIs and
corporates for the distribution of rural policies and organizations like
Dhan for distribution of Salaam Zindagi, a policy for the socially and
economically underprivileged sections of society.
ICICI prudential has recruited and trained about 60,000 insurance
advisors to interface with and advise customers. Further, it leverages its
state-of-the-art IT infrastructure to provide superior quality of service to
customers.

3. ABOUT THE PROMOTERS:
ICICI BANK:
ICICI Bank (NYSE:IBN) is India’s second largest bank and largest
private sector bank with over 50 years of financial experience and with
assets of Rs. 1812.27 billion as on 30th
June, 2005.ICICI Bank offers a
wide range of banking products and financial services to corporate and
retail customers through a variety of delivery channels and through its
specialized subsidiaries and affiliates in the areas of investment banking,
life and non-life insurance, venture capital and asset management. ICICI
Bank is a leading player in the retail banking market and has over 13
million retail customer accounts. The Bank has a network of over 570
branches and extension counters, and 2,000 ATMs.
Overview
ICICI Bank is India's second-largest bank with total assets of about
Rs.1,67,659 crore at March 31, 2005 and profit after tax of Rs. 2,005 crore
for the year ended March 31, 2005 (Rs.1,637 crore in fiscal 2004). ICICI
Bank has a network of about 560 branches and extension counters and over
1,900 ATMs.
ICICI Bank offers a wide range of banking products and financial
services to corporate and retail customers through a variety of delivery
channels and through its specialised subsidiaries and affiliates in the areas of

investment banking, life and non-life insurance, venture capital and asset
management. ICICI Bank set up its international banking group in fiscal
2002 to cater to the cross border needs of clients and leverage on its
domestic banking strengths to offer products internationally. ICICI Bank
currently has subsidiaries in the United Kingdom, Canada and Russia,
branches in Singapore and Bahrain and representative offices in the United
States, China, United Arab Emirates, Bangladesh and South Africa.
ICICI Bank's equity shares are listed in India on the Stock Exchange,
Mumbai and the National Stock Exchange of India Limited and its
American Depositary Receipts (ADRs) are listed on the New York Stock
Exchange (NYSE).
ICICI Bank was originally promoted in 1994 by ICICI Limited, an
Indian financial institution, and was its wholly-owned subsidiary. ICICI's
shareholding in ICICI Bank was reduced to 46% through a public offering of
shares in India in fiscal 1998, an equity offering in the form of ADRs listed
on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of Madura
Limited in an all-stock amalgamation in fiscal 2001, and secondary market
sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002.
ICICI was formed in 1955 at the initiative of the World Bank, the
Government of India and representatives of Indian industry. The principal
objective was to create a development financial institution for providing
medium-term and long-term project financing to Indian businesses. In the

1990s, ICICI transformed its business from a development financial
institution offering only project finance to a diversified financial services
group offering a wide variety of products and services, both directly and
through a number of subsidiaries and affiliates like ICICI Bank. In 1999,
ICICI become the first Indian company and the first bank or financial
institution from non-Japan Asia to be listed on the NYSE.
After consideration of various corporate structuring alternatives in the
context of the emerging competitive scenario in the Indian banking industry,
and the move towards universal banking, the managements of ICICI and
ICICI Bank formed the view that the merger of ICICI with ICICI Bank
would be the optimal strategic alternative for both entities, and would create
the optimal legal structure for the ICICI group's universal banking strategy.
The merger would enhance value for ICICI shareholders through the
merged entity's access to low-cost deposits, greater opportunities for earning
fee-based income and the ability to participate in the payments system and
provide transaction-banking services. The merger would enhance value for
ICICI Bank shareholders through a large capital base and scale of
operations, seamless access to ICICI's strong corporate relationships built up
over five decades, entry into new business segments, higher market share in
various business segments, particularly fee-based services, and access to the
vast talent pool of ICICI and its subsidiaries.

In October 2001, the Boards of Directors of ICICI and ICICI Bank
approved the merger of ICICI and two of its wholly-owned retail finance
subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital
Services Limited, with ICICI Bank. The merger was approved by
shareholders of ICICI and ICICI Bank in January 2002, by the High Court of
Gujarat at Ahmedabad in March 2002, and by the High Court of Judicature
at Mumbai and the Reserve Bank of India in April 2002. Consequent to the
merger, the ICICI group's financing and banking operations, both wholesale
and retail, have been integrated in a single entity.
History of ICICI

1955 :
The Industrial Credit and Investment Corporation of India Limited
(ICICI) incorporated at the initiative of the World Bank, the
Government of India and representatives of Indian industry, with the
objective of creating a development financial institution for providing
medium-term and long-term project financing to Indian businesses.
Mr.A.Ramaswami Mudaliar elected as the first Chairman of ICICI
Limited
1955: ICICI emerges as the major source of foreign currency loans to Indian
industry. Besides funding from the World Bank and other multi-
lateral agencies, ICICI also among the first Indian companies to raise
funds from International markets.
1956 : ICICI declared its first Dividend at 3.5%.
1958 : Mr.G.L.Mehta was appointed the 2nd Chairman of ICICI Ltd.
1960 : ICICI building at 163, Backbay Reclamation was inaugurated.
1961 : The first West German loan of DM 5 million from Kredianstalt was
obtained by ICICI.
1967 : ICICI made its first debenture issue for Rs.6 crore, which was
oversubscribed.
1969 : First two regional offices in Calcutta and Madras were opened.
1972 : Second entity in India to set-up merchant banking services.
1972: Mr. H. T. Parekh appointed as the third Chairman of ICICI.
1977 : ICICI sponsors the formation of Housing Development Finance
Corporation. Managed its first equity public issue
1978 : Mr. James Raj appointed as the fourth Chairman of ICICI.
1979 : Mr.Siddharth Mehta appointed as the fifth Chairman of ICICI.
1982 : Becomes the first ever Indian borrower to raise European Currency
Units.
1982: ICICI commences leasing business.

1984 : Mr. S. Nadkarni appointed as the sixth Chairman of ICICI.
1985 : Mr.N.Vaghul appointed as the seventh Chairman and Managing
Director of ICICI.
1986 : ICICI first Indian Institution to receive ADB Loans. First public issue
by an Indian entity in the Swiss Capital Markets.
1986: ICICI along with UTI sets up Credit Rating Information Services of
India Limited, (CRISIL) India's first professional credit rating
agency.
1986: ICICI promotes Shipping Credit and Investment Company of India
Limited. (SCICI)
1986: The Corporation made a public issue of Swiss Franc 75 million in
Switzerland, the first public issue by any Indian equity in the Swiss
Capital Market.
1987 : ICICI signed a loan agreement for Sterling Pound 10 million with
Commonwealth Development Corporation (CDC), the first loan by
CDC for financing projects in India.
1988 : ICICI promotes TDICI - India's first venture capital company.
1993 : ICICI sets-up ICICI Securities and Finance Company Limited in joint
venture with J. P. Morgan.
1993: ICICI sets up ICICI Asset Management Company.
1994 : ICICI sets up ICICI Bank.
1996 : ICICI becomes the first company in the Indian financial sector to
raise GDR.
1993: ICICI announces merger with SCICI.
1993: Mr.K.V.Kamath appointed the Managing Director and CEO of ICICI
Ltd
1997 : ICICI was the first intermediary to move away from single prime rate
to three-tier prime rates structure and introduced yield-curve based

pricing.
1997: The name "The Industrial Credit and Investment Corporation of India
Limited " was changed to "ICICI Limited".
1997: ICICI announces takeover of ITC Classic Finance.
1998 : Introduced the new logo symbolizing a common corporate identity
for the ICICI Group.
1998: ICICI announces takeover of Anagram Finance.
1999 : ICICI launches retail finance - car loans, house loans and loans for
consumer durables.
1999: ICICI becomes the first Indian Company to list on the NYSE through
an issue of American Depositary Shares.
2000 : ICICI Bank becomes the first commercial bank from India to list its
stock on NYSE.
2000: ICICI Bank announces merger with Bank of Madura.
2001 : The Boards of ICICI Ltd and ICICI Bank approved the merger of
ICICI with ICICI Bank.
2002 : Moodys' assign higher than sovereign rating to ICICI.
2002: Merger of ICICI Limited, ICICI Capital Services Ltd and ICICI
Personal Financial Services Limited with ICICI Bank.
Prudential:

Established in London in 1848, Prudential plc, through its business in UK
and Europe, US and Asia, provides retail financial services products and
services to more than 16 million customers, policyholder and unit holders
worldwide. As of June 30, 2004, the company had over US$300 billion in
funds under management.
Prudential has brought to market an integrated range of financial services
products that now includes life assurance, pensions, mutual funds, banking,
investment management and general insurance. In Asia, prudential is the
leading European life insurance company with a vast network of 24 life and
mutual fund operations in twelve countries – China, Hong Kong, India,
Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan, Thailand
and Vietnam.
1.2.4 MANAGEMENT:
Board of Directors:
The ICICI prudential Life Insurance Company Limited
Board comprises reputed people from the finance industry both India and
abroad…
Mr. K.V. Kamath, Chairman
Mr. Mark Norbom
Mrs. Lathika D.Gupte
Mrs.Kalpana Morparia
Mrs.Chanda Kochhar
Mr.Kevin Holmgren
Mr.M.P.Modi
Mr. Narayanan
Ms.Shikha Sharma, Managing Director
Mr.N.S.Kannan, Executive Director

Management Team:
Ms.Shikha Sharma, Managing Director & CEO
Mr.N.S.Kannan, Executive Director
Mr.V.Rajagopalan, Chief – Actuary
Mr.Sandeep Batra, Chif Financial Officer & Company Secretary
Ms.Anita Pai, Chif – Customer Service and Operations
Mr.Puneet Nanda, Chif – Investments
Mr.Dipan Bhattacharya – Chif Information Technology
1.3PRODUCT PROFILE
ICICI prudential Life Insurance offers a range of innovative,
customer-centric products that meet the needs of customer at every life
stage. Its products can be enhanced with up to 5 riders, to create a
customized solution for each policyholder.
1.2.3SAVINGS SOLUTIONS:
• Secure Plus is a transparent and feature-packed savings plan that offer 3
levels of protection.
• Cash Plus is a Transparent, feature-packed savings plan that offers 3
levels of protection as well as liquidity options.
• Save “n” Protect is a traditional endowment savings plan that offers life
protection along with adequate returns.
• Cash Bank is an anticipated endowment policy ideal for meeting
milestone expenses like a child’s marriage, expenses for a child’s higher
education or purchase of an asset.
• Lifetime & Lifetime II offer customer the flexibility and control top
customize the policy to meeting the changing needs at different life
stages. Each offer 4 fund options? Preserver, Protector, Balancer and
Maxi miser.

• Life link II is a single premium Market Linked Insurance Plan which
combines life insurance cover with the opportunity to stay invested in
the stock market.
• Premier Life is a limited premium – paying plan that offers customers
life insurance cover till the age of 75.
• Invest Shield Life is a Market Linked plan that provides capital
guarantee on the invested premiums and declared bonus interest.
• Invest Shield Cash is a Market Linked plan that provides capital
guarantee on the invested premiums and declared bonus interest along
with flexible liquidity options.
• Invest shield Gold is a Market Linked plan that provides capital
guarantee on the invested premiums and declared bonus interest along
with limited premium payment terms.
Protection Solutions
• Life Guard is a protection plan, which offers life covers at very low cost.
It is available in 3 options – level term assurance, level term assurance
with return of premium and single premium.
Child Plans
• Smart Kid education plans guaranteed educational benefits to a child
along with life insurance cover for the parent who purchases the policy.
The policy is designed to provide money at important milestones in the
child’s life. Smart Kid plans are also available in unit-linked form-both
single premium and regular premium.
Retirement Solutions
• Forever life is a retirement product targeted at individuals in their
thirties.

• SecurePlus Pension is a flexible pension plan that allows one to select
between 3 levels of cover.
1.3.2 MARKET-LINKED RETIREMENT PRODUCTS
• Life Time Pension II is a regular premium market-linked pension plan.
• Life Link Pension II is a single premium market-linked pension plan.
• Invest Shield Pension is a regular premium pension plan with a capital
guarantee on the ingestible premium and declared bonuses.
• Golden Years is a limited premium paying retirement solution that
offers tax benefits up to Rs.100, 000 u/s 80 c, with flexibility in both the
accumulation and payout stages.
ICICI Prudential also launched “salaam Zindagi”, a social sector
group insurance policy targeted at the economically underprivileged
sections of the society.
1.3.3 GROUP INSURANCE SOLUTIONS:
ICICI Prudential also offers Group Insurance Solutions for
companies seeking to enhance benefits to their employees.
ICICI Prudential Group Gratuity Plan:
ICICI Prudential group gratuity plan helps employers fund their
statutory gratuity obligation in a scientific manner. The plan can also be
customized to structure schemes that can provide benefits beyond the
statutory obligations.
ICICI Prudential Group Superannuation Plan:
ICICI prudential offers a flexible defined contribution superannuation
scheme to provide a retirement kitty for each member of the group.
Employees have the option of choosing from various annuity options or
opting for a partial commutation of the annuity at the time of retirement.

ICICI Prudential Group Term Plan:
ICICI Prudential flexible group term solution helps provides
affordable cover to members of a group. The cover could be uniform or
based on designation/rank or a multiple of salary. The benefit under the
policy is paid to the beneficiary nominated by the member on his/her
death. Flexible Rider Options
ICICI Prudential Life offers flexible riders, which can be added to the
basic policy at a marginal cost, depending on the specific needs of the
customer.
o Accident & disability benefit: If death occurs as the result of an
accident during the tern of the policy, the beneficiary receives an
additional amount equal to the sum assured under the policy. If
the death occurs while traveling in an authorized mass transport
vehicle, the beneficiary will be entitled to twice the sum assured
as additional benefit.
o Accident Benefit: This rider option pays the sum assured under
the rider on death due to accident.
1.4 ABOUT THE PROJECT
The aim of the project is the customer preferences and brand
awareness of ICICI Prudential Life insurance in Chennai city.

The project mainly deals with the comparative study of the
preference to ICICI Prudential products with the other insurance.
1.5 TITLE OF THE STUDY
Customer Preference:
This truth is no different from raising a small child. Once a
child understands (perceives) that negative actions swiftly results in
negative consequences, the child will change his or her behavior. And
once a child understands (perceives) that positive actions will earn
positive rewards he will want to continue to behave appropriately in
order to be rewarded. The same concept applies to customer’s
preference.
“It is not who you are, its who people think you are”
Your company’s success can be measured in only one way, the
perceived value to your customer. Everything else is secondary.
It provides you with a way to accurately measure how customers
which of your company, products & services.

1.6 STATEMENT OF PROBLEM
ICICI Prudential is the no.1 company among the private players.
ICICI prudential apart from other companies have come out with the
latest version of market link products available in international plans.
These plans have become very popular because of the transparency
and the flexibility it offers to the client.
1.7 NEED FOR THE STUDY
Every organization has its own vision. To achieve that various
policies, rules and regulations have been constructed by the company
management to improve the productivity and performance among the
customers that will affect the organizational goals.
So this survey on analysis of facts influencing performance and
response of customers were come out with an intention to find out the
ICICI Prudential products.

INDUSTRY PROFILE
ABOUT US:
SPA Group was promoted by a team of finance professionals in 1995 with
an objective to provide value added financial services. Initially, the Group
focused as a niche financial solutions provider in corporate finance and
wealth management to Indian companies and high net worth individuals. In
January 2000, the Group expanded its operations and the range of services.
Today, SPA provides services for securities broking, merchant banking,
wealth management, financial advisory, corporate finance , risk
management and insurance broking.
SPA is being managed by its promoters along with a young and
dynamic team of over 200 professionals with rich experience, in their
respective fields. The Group has established itself as one of India’s leading
financial advisory house, offering various financial solutions to its
Institutional, corporate and individual clients.
Customer centric approach of Spa’s dedicated professional team has
helped carve a niche for itself in financial services arena and won
confidence of its clients. Clients of SPA are from a wide spectrum and
comprise of Banks and other financial institutions, Mutual funds, Insurance
companies, foreign institutional investors, public sector undertakings and
government departments, private corporates, trusts and individuals
BUSINESS AREA:
I.MERCHANT BANKING
SPA Merchant Bankers Limited is engaged in private placement of debt
instruments, structuring of the various financial products as per the
requirements of the borrowers along with various other pre-issue and post
issue services.

The Company has made notable and considerable progress in a short span
in the debt-oriented merchant banking activities by successful placement of
various debt primary issues. This is also reflected through the ranking by
Prime Database, which has ranked the Group amongst the top 10 service
providers in this segment. The Company was able to achieve above ranks on
the basis of its performance in just two financial years since it commenced
investment & merchant banking activities.
Since the commencement of merchant banking services, the Company has
syndicated funds for various Public Sector Undertakings (PSUs), Designated
Financial Institutions (DFIs), Banks and several State Level Undertakings
(SLUs).
The Company for its Merchant & Investment Banking activities has found
patronage as an Arranger with various central public sector undertakings
like HUDCO, NTC, ITI, MECON, IISCO SAIL, REC, KRCL, public sector banks
and financial institutions. Also the Company has had privilege to provide its
services to various state level undertakings of Andhra Pradesh, Karnataka,
Kerela, TamilNadu, West Bengal, Punjab, Haryana, Himachal Pradesh,
Jammu & Kashmir, Maharashtra, Gujarat and Rajasthan. In the private
sector, the Company has provided its services to various domestic and MNC
corporates.
The achievements corroborate our untiring and sincere efforts towards
building and preserving mutually rewarding and sustainable relationships
with our clients and giving them our value added services with meaningful
performance.
Now, the Company has started providing Equity Oriented Merchant Banking
services to its customers on strength of its research based structuring
capabilities and strong distribution network. Presently, the Company is
providing services for private placement of equities, public issues and right
issues.
II. PROJECT FINANCING:
Driving strengths from its institutional relationships and the
position in this segment, SPA Merchant Bankers Limited has been
acting as arranger for syndication of loans for various corporate in
the public and private sectors. Successful execution of mandates for
arranging corporate finance has helped the Company to earn
confidence from its clients and generated further referrals.
The Company has the pleasure to be associated with some of
the leading corporate of Indian business world and has executed
mandates for syndication of rupee term loans aggregating Rs. 5000
cores, including Narmada Hydroelectric Development Corporation
Limited, ITI Ltd., Andhra Pradesh Water Resources Development.
Corporation, Punjab State Electricity Board and various corporate
houses in the private sector.

III.INVESTMENT BANKING AND DEBT ADVISORY:
SPA Merchant Bankers Limited has proved its strengths in the field of
Investment Banking services including merger and amalgamation
related advisory services, structured financing through various
mechanisms and financial restructuring.
In short span the Company has been able to execute debt advisory
related mandates for more than Rs. 2500 Crs for esteemed clientele
like NTC, ITI, HUDCO, CUPGL, TNEB, CMWSSB, RSRDC.
IV.SECURITESBROKING:
SPA Securities Ltd. is registered member of NSE-WDM segment,
Capital Market segment and Futures and Options segment. The
company is also a member of The Stock Exchange, Mumbai. SPA
Comrades Pvt. Ltd. is the commodities broking company of the group
and is a member of NCDEX and MCX. The Company has dedicated
teams operating from a state of the art dealing room in Mumbai for
equity, debt and derivatives broking supported by a strong in-house
research team.
Debt Broking:
The division is engaged in providing debt advisory and broking
services to institutional, semi-institutional and retail customers. The
company caters to a wide range of investors across the country
ranging from Provident Funds, Banks, Corporate Treasuries, Financial
Institutions, Mutual Funds, Educational, Religious and Charitable
Trusts, Insurance Companies, HNI's etc. The company deals in
Government Securities, Treasury Bills, Commercial Papers, Certificate
of Deposits, PSU, SLU and Corporate Bonds and other debt
instruments. With its nationwide network providing institutional
broking services the company has executed business of over Rs. 300
Billion in last 3 years.
V.MUTUAL FUND:

The SPA Group, on strength of its research based customer centric approach
and impeccable servicing, is recognized as one of the leading financial
advisory service providers in the country.
SPA Capital Services Ltd., the flagship company of the group provides
investment advisory services. The company is engaged in advisory and
distribution services of mutual funds and is ranked amongst top 10
intermediaries in the country. The Company provides customized solutions
to the requirements of High Net worth Individuals and Corporate clients.
Our strength lies in our ability to advice on investment strategies and
structures develop innovative products and distribute amongst a wide
network of investors across the country. We have constantly endeavored to
develop new instruments, tailor made to the requirements of our clients,
enabling them to earn efficient post tax returns in accordance with their
specific risk, return and maturity profiles. The company also has a
distribution network of 200 sub-brokers across India being serviced by its
eight branches.
The company has mobilized more than Rs.7 trillion for various Mutual Funds
during the last 7 years and is currently having Asset under Management of
over Rs.50 billion with satisfied customers.
Additionally, the company provides advisory services for alternate
investment options like portfolio management services in equity, debt and
commodities besides investment in venture capital funds.
VI. INSURANCE:
SPA Insurance Broking Services Ltd is the insurance broking company
of the group providing life and general insurance advisory services.
Life Insurance advisory services are process oriented, which include
identification of the needs of the clients, offering the best product available,
resolution of their queries and post sales service. The company has covered
over 2000 lives in 18 months of business with sum assured of over Rs. 20
billion and premium collection of over Rs.3.5 billion.
In General Insurance we believe in servicing clients after
assessment of their need and the risk involved and cover
required and offer the best insurance cover available in the
market supported by strong after sales services to the clients.
The Company is empanelled with all the general insurance
companies operating in the Country enabling it to provide best
insurance solutions suitable for the clients. The company has
provided insurance coverage across assets classes of over Rs.
200 billion with impeccable claims and other after sales
services.

RESEARCH:
Research, undertaken on a continuing basis, forms
foundation for all services provided by us. At SPA we have
focused on building a strong research team which
functions with an exhaustive approach to understand and
analyze underlying market dynamics for equities, fixed
income, and mutual funds.
To provide customized solutions our operation and sales
team shares customer expectations and requirements
with the research team which supports them with various
relevant solutions.
VISION & VALUES
SPA believes in attaining customer satisfaction, on continuing
basis, by providing highest standard of financial services in
India. The philosophy at SPA is to provide services to clients
after assessment of their profile, needs and risk-appetite. The
basic work theme at SPA is:
- Dedicated, competent and honest team of professionals
- Customer centric work environment
- Insight of customers’ perspectives
- Strong research base
- Clear understanding of applicable laws
- Consistency and passion to excel
- Technology savvy

REVIEW OF LITERATURE
2.1 CUSTOMER PREFERENCES
Conceptually, a customer preference is a simply notion. It is the
relation between the output of an organization and the value the
customer attaches to it. We can quantify customer preferences through
market survey methods, either through the retail outlet surveys or the
final customer surveys s has been done in this report. The companies can
increase the customer preference based on the suggestions and
recommendations received directly from the customers themselves. The
most important this that has to be borne in mind is to see how true to
their self the customers are while giving their opinions. This can be
serious drawback to any opinion poll. Care should be taken to select
customers from all quarters of the society. The sample has to
considerable big so as to represent the society in true terms.
Though customer preferences appear simple, misconceptions about it
are many. Some of them are as under:

• Customer wants a product that is cheap and is of acceptable quality and
shelf life. He doesn’t care if it aesthetically well designed or packed or
has excellent quality over others.
• It is considered that customer a preference is fast too dynamic a property
based on which marketing strategies cannot base on. In fact, it is quite an
important factor which decides whether a brand survives in the market or
not.
Apart from this, many practical complexities exist. The cost per unit of
the product/service depends on the cost price at which the inputs are
procured and the effectiveness with which those inputs are put to use
produces the outputs. Therefore wastage elimination and improved
productivity also indirectly impact the customer preferences levels.
Assuming that all companies get the input at the same price, the
inescapable conclusion is that the company that is most productive will
have the lowest cost product. The concept of productivity becomes all
the more important for those organizations that face severe competition
from high tech organizations.
This suggests productivity is the only weapon which companies have
to tackle price rise in inputs without increasing the sale price of the
products. It has been seen in the last year that prices of some products
had to be reduced by as much as 30%. In such situations, productivity
improvement is the only way by which brands can stay in the market and
still be profitable.
2.2 AIM, SCOPE AND POTENTIALITY OF THE CONCEPT OF
CUSTOMER PREFERENCES
Customer preferences aim at thoroughly cleaning up the
production/service facilities of an organization by undermining its basic
functions. All wasteful areas can be identified and redundant activities
that do not add value to the products/services could be limited or
curtailed. The organization can give the customers what he wants
through an objective survey.
The scope for customer preferences is enormous considering the why
the market is moving. The FMCG market is flooded with brands and the
people are not ignorant of the various new entrants. Gone are the days
when a family goes in for a particular brand for generations. The concept

Of huge family is gone and it is the time of smaller, separate families.
Every person is having his or her own preferences heard. So, it has
become incumbent on the brands to suit every person’s tastes, like and
dislikes. As the saying goes, ‘A satisfied customer is the best
advertisement’.
The more effective and efficient production process employed the
more the production and profitability. And hence, the government
gains by more importantly, the shareholders get more profits and
dividends being the owners of the company. Employees also gain
higher production related incentives. In all, through productivity
improvement everybody related to the organization gains. And so do
the customers. The customers also get to have products that are
very high in quality and longer shelf life. Extravagancies creep up
into the organizational set up helps us to locate and eliminate the
extravagant expenses in the company. Reduction of such
extravagancies allows the organization to the customers. In a global
market there are no preferences for supplies.
In the words of Mr. Lee Young, the former Editor-in-chief of
business world, customer preferences is the most ignored area in
business today. He says, probably the most important management
fundamental that is being ignored today is staying close to the
customer to satisfy his needs and anticipate his wants. In too many
companies, the customer has become a bloody nuisance whose
unpredictable behavior damages carefully made strategies plans,
whose activities mess up computer operations and who stubbornly
insists that purchased product should work.
That a business ought to be close to its customers seems to be
benign message. So the question arises, why does a topic like this
need to be discussed at all? The answer is that, despite all the lip
service given to market orientation these days., Lee Young and other
management stalwarts are right. The customer is either ignored or
considered a bloody nuisance.
All business success rests on something labeled for sale, which
at least momentarily weds company to the customer. A research

conducted in the US by two management gurus uncovered on the
customer attribute is this: the excellent companied ‘really’ are close
to their customers. Tht is it. Other companies talk about it. Excellent
companies do it.
In excellent companies and specifically the way they interact with
their customers, the most striking feature was the consistent
presence of an obsession. Being customer oriented doesn’t mean
that excellent companies are slouches when it comes to
technological or cost performance. But they do seem to be more
driven by their direct orientation to their customers rather than by
technology or by a desire to be the low cost producer. IBM has not
been a leader in technology for decades. Its dominance resets on its
commitment to service.
Service, quality, reliability are strategies aimed at loyalty and long
term revenue stream growth and importantly, maintenance. It seems
that winners focus specially on the revenue generation side. The one
follows the other.
As suggested by Peters and Waterman, customer orientation
depends on three fundamental issues and they have shown how
excellent companies do it. Now the question arises, how that is
going to affect the preferences level of the company’s customers.
The answer to this is, we can learn from the companies that have
faced the same problem some decades ago and have come out tops.
We need not learn the hard way. We have a way and we only need to
find it.
A satisfied customer is the best advertisement of a company’s
product. The customers not only provide the company with
revenues, but they are also vital source of suggestions and product
performance evaluation. This is the role of the customer as the
mentor of an organization should be given due importance.
2.3 SERVICE OBESSION:
Keep communications flowing? This concept is one, which is
most ignored under Indian circumstances. Believe that a real sale
begins after sales and not before. The companies have to be really
caring for the customers. Feel for the customer when it hurts him.
IBM has adopted this concept of service during the 60sand it learned
this through a man who used to sell cars. If a computer giant can

learn from a car salesman, then a pickle manufacturer can learn from
a shopkeeper.
Dinah Nemeroff of Citibank, N.A.while talking about service
obsession says that the principal themes are:
• Intensive, active involvement on the part of senior management
• Remarkable people orientation
• High intensity measurement and feedback.
She calls it service statesmanship. With service as their top goal
‘profitability naturally follows’.
Late Mr. David Ogilvy, founder of the O and M reminds us that in
best institutions, promises are kept no matter what the cost in
agony and over time.
2.4 QUALITY OBSESSION:
Companies that had been excelling during the 60s have had a
strong obsession about giving the customers products of very high
quality. It is pleasing to give some of the examples about companies
and let them explain the concept of quality obsession. Quality
products are a result of quality systems and quality processes.
Quality is never an accident. One never stumbles upon a quality
product.
A serious and systematic effort is needed to produce a quality
product. In order to maintain market share in a competitive world,
quality of the product as well as processes should be given prime
importance. A quality product helps the organization in increasing its
market share and winning the trust of the customers. High quality of
process results in few rejections and improves the productivity of
the organization as a whole. Also quality ensures reduction in
wastage of materials, labor, time, etc.
The Boy Scout law says that the main principles are excellence in
quality, reliability of performance and loyalty in dealer relationships.
Based on these guiding principles, many excellent companies have

scaled the peaks of customer preferences.
2.5 OBJECTIVE PLANNING AND CONTROL:
It is planning on what to produce, when to produce and how best to
produce the products required by the customer.
• Delivery on time; every time.
• Flexibility in manufacturing process to suit the quality needs.
• Develop and issue c0-ordinated schedules and order to production
department.
• Keep prices under control.
• Adopt a good marketing strategy to meet the market demands.
2.6 KEYS TO HIGH CUSTOMER
PREFERENCES:
Basic factor common to high customer preferences totally complete the
factors common to high creativity and the quality service provided to the
customers. It should be emphasized that to ensure high organization
productivity, creativity and quality should permeate every discipline and
every job with in the organization.
1. Skilled responsible management:
The critical tie between the organization’s management and customer
preferences is evident in the definition of customers preferences it self.
Basically, customer preferences is the preferences the customer derives
by using the company’s product in the comparison with which its
competitors’ products; that is the efficiency and effectiveness with which
available resource-men, machine, material, capital, facilities, energy and
time are utilized to achieve a valuable output. As can be seen, it is a very
relative measure. It is dynamic too. So, the organization should be
constantly evaluating customer’s preferences as apart of its

Routine assessment process to upgrade its performance and market
knowledge.
Virtually any one could manage if resource were unlimited. How ever, as
we are all aware, this is seldom, if ever, the case and therefore the
challenge of creative management is to get the job done optimally if the
available resources. And in the times to come, management are going to
get fewer resource rather then abundant resources, thus creating an even
grater challenge.
Inherently, all markets are bipolar; that is, they can be fully engaged
and productively of management is and always has been the development
or stewardship of availed resources, thus making management the key
link in the entire customer preferences chain.
The markets these days are far more demanding requiring grater
professionalism in management. Tomorrow’s manager, in addition to
being technically qualified in his field, must be a respected, people
oriented leader, skilled in the latest techniques of behavioral sciences and
sound business practices.
2. Outstanding market leadership:
Of all factors, market leadership has, by far, the greater leverage on
the customer’s minds. Ultimately, the destiny of any organization hinges
on the quality of its leadership. True leaders bring the best in
organizations and the Markey share.
This is largely because leaders elicit strong positive emotional
reactions, and people tend to fulfill their needs and grow under their
effective leadership. Such leaders have an uncanny
Knack for cutting through complexity, providing practical solutions to
difficult problems successfully communicating these solutions to others
and insisting enthusiasm and a ‘can do’ attitude.
Mr. Dravid Gergen, while talking about leadership qualities said, “a
leader’s role is to raise people’s aspiration for what they can become and to
realize their energies so they will try to get there”.

It is important therefore, that the management be catalytic in
enhancing the leadership potential already presents in the market by selecting for
advancement in key improvement areas which offers promise for future potential.
3. Higher variety:
Variety goes against Cost Reduction. But the market is poised in such a way
that each individual has a sphere of wants and needs. To meet this need,
organizations have to go in for variety based on intelligent market segmentation
and discrimination.
This is particularly needs creativity and innovative process manipulation. The
optimal combination of quality and variety creates a resonance with in a person.
On the other hand if one’s product does not provide fulfillment, a person will
frequently divert his or her attention and shift to other brands and other pursuits.
Special attention should be given to newer markets since it introduces the
company to newer people and paths of communication that can significantly
influence long term effectiveness and ultimate position of the company and the
band.
RESEARCH METHODOLOGY
INTODUCTION:
According to the oxford advanced Learners Dictionary of current
English the meaning of research is a “careful Study or investigation
especially in order to discover new facts or information”.
Research is defined as movement from the known to the unknown. It is
an effort to discover something. According to Clifford Woody, Research
comprise defining and redefining problems formulating hypothesis or
suggested solutions, collecting/organizing and evaluating data making
deduction and research conclusions and at last carefully testing the
conclusion to determine whether they fit the formulation hypothesis.
4.1 Research design:

Research design is a plan of action that guides the entire research.
There are four types of research design available. They are
1. Exploratory Research Design
2. Descriptive Research Design
3. Diagnostic Research Design
4. Experimental Research Design
In their study Descriptive Research Design has been adopted.
The purpose of the research methodology is to describe the research
procedure. This includes the over all research design. The sampling
procedure, the data collection method field & analysis procedure. This
selection is importance because it is hard to discuss methodology without
using technical terms.
Meaning of research
The advanced learner’s dictionary of current English says the meaning
of research as “A careful investigation of inquiry especially through search
for new facts in any branch of knowledge.
Research design
A research design is the specification of methods & procedure for
accounting the information needed to structure or to solve problem. It is the

overall operational pattern of frame works of the project that stipulation
procedure.
Type of research
i. Descriptive research
ii. Applied research
iii. Quantitative research
iv. Conceptual research
v. Analytical research
vi. Fundamental research
vii. Qualitative research
viii. Empirical research
Data collection
The researches should keep in mind two types of data while collecting
data viz primary & secondary data.
Primary data
The primary data are those which collected a fresh & fir the first time
& thus happen to be original in chapter. The source of primary data is the

field hand information or data from the business people who located their
shops in mount road, periamadu, Airport, G.P road and Spencer plaza.
Secondary data
The secondary data are those which have already been through the
statistical process.
Sample
The selected respondents constitute what is technically called a
sample & the election process is called sampling technique. The survey
conducted is called sample survey.
Sampling
Sample is apart of the population or a subject of unit which is
provided by some process or other usually by deliberate selection with the
object of investigation
Here the sample survey is conducted for collecting the data from the
business people.

2. Sampling Procedure
Sampling is frequently used in marketing research projects as opposed to
conducting a sense because sampling can reduce the amount of time and
money.
The steps should be included in developing a sampling plan is:
1. Define the sampling target application.
2. Select data collection method.
3. Identify sampling time needed.
4. Select appropriate sampling method.
5. Determine the samples sizes.
Sampling method indicated how the sampling units are selected. There are tow
methods of sampling
1. Probability
2. Non-Probability
Probability sampling method is a deterministic method where the sample size is
known.

Sample size
The sample size consists of 150 business people who running their
business in an around mount road.
Simple random sampling:
Here every member of the population has an equal chance of
selection.
Pilot survey
Pilot survey is the replica & rehearsal of the main survey. Such a
survey brings to the weakness (if any) of the questionnaire & also of survey
technique from the experience gained.
Tables & Charts
The tables & charts are used mainly for the multiple choice questions
& that of close ended question. And this table & chart are used for
suggestion is conclusion.
Pie charts

It is a circle divided into number of sector to represent the value of the
data. It is highly useful to know how the given data is distributed
Bar diagram
Bar diagram is otherwise called one-dimensional diagram. Bar
diagrams are the most common type of diagram used in practice. Bar is a
line where width is some merely for attention the length of the bar that
matters & not the width. When the number of items is large, lines may be
drawn. Instead of bars of economic space.

3. Scope of the Study:
The survey is confined top opinion survey about ICICI Prudential Market link
Plans in Chennai city.
The study is to find out the customer preferences and brand awareness
of ICICI Prudential Life Insurance market link plans.
The respondent willingness to take the risk while investing in market link
plans is also analyzed.
The study is conducted in order to know how the age, income, education, and
occupation of the respondents will influence the investment in market link plans.

4.4Duration of study
The period of study is for two months i.e., of June to th
of August 2006.
Method of Data Collection:
The data collected for the study includes both primary and secondary
data in order to attain the objectives of the study.
Apart from this information regarding the company, future prospects
etc have collected from websites, clipping, from newspapers, magazines,
journals, books.

4.5Questionnaire Design:
Quite often questionnaire is considered as the heart of a survey operation.
Hence it should be very carefully constructed. Questionnaire was prepared with
the combinations of various types of questions which have been listed below.
The number of questions used each type are 2 yes/no questions, 11 closed
ended questions, 2 open ended questions and 2 scaling/ranking questions.

6. Limitations of the Study:
The time constraint had restricted the researcher from an in – depth
study.
The number of respondents who respond to the survey being limited there
are chances for bias in the output of the survey.
The respondents have little awareness over the private companies. So, it
is difficult to find out the opinion about the market link plans of the company.
Most of the respondents are not interested to give their suggestions for
the survey.

4.7Statistical Tools Used:
1. Chi-Square test:
The objective of the chi-square test is to determine whether there
is any significant difference exists among the various groups. Chi-square
test involves comparison of expected frequency (Ei) with observed
frequency (Oi) to determine whether the difference between the two is
greater than the tabulated value that might occur by chance. There are 5
steps in using chi-square test.
1. The difference between each observed frequency and each expected
frequency is computed.
2. The difference is squared.
3. Each squared difference is divided by the respective expected frequency.
4. Their quotients are added together to obtain the computed chi-square
value.
5. This computed value is then compared to tabulate chi-square value.

If the computed X value is greater than the tabulate X value at a
predetermined level of significance and degree of freedom, the hypothesis
is rejected.
On the other hand, if the calculated X value is less than the tabulated
valued the hypothesis is accepted.
X = (O-E)/E
Where X = Chi-square
O = Observed frequency
E = Expected frequency
2. weighted Average method:
When the relative importance of the difference observations are not
the same, we compute weighted arithmetic mean. The terms “Weight”
stands for the relative importance of the difference observations. The
formula for this is,
X = Wxi/Wi
Where
X = Weighted arithmetic mean
Xi = the variable
WI = Weights attached to the variable Xi I-1………….n
WEIGHTED AVERAGE

MUTUAL
FUND
WEIGHTS NO OF
RESPONDENT
PERCENTAGE %
VERY GOOD 5 87 58
GOOD 4 51 34
AVERAGE 3 12 8
POOR 2 0 0
NO IDEA 1 0 0
RESPONDENTS WITH AVERAGE
435+204+36=675
675/150=4.5
POST OFFICE
SAVINGS
WEIGHTS NO OF
RESPONDENT
PERCENTAGE %
VERY GOOD 5 12 8
GOOD 4 78 52
AVERAGE 3 60 40
POOR 2 0 0
NO IDEA 1 0 0
60+312+180=552
552/150=3.68
INSURANCE WEIGHTS NO OF
RESPONDENT
PERCENTAGE %
VERY GOOD 5 66 44

GOOD 4 66 44
AVERAGE 3 15 10
POOR 2 3 2
NO IDEA 1 0 0
330+264+45+6=645
645/150=4.3
SHARES WEIGHTS NO OF
RESPONDENT
PERCENTAGE %
VERY GOOD 5 24 16
GOOD 4 60 40
AVERAGE 3 51 34
POOR 2 12 8
NO IDEA 1 3 2
120+240+153+24+3=540
540/150=3.6

Gender of the respondents
39
111
0 50 100 150
MALE
FEMALE
Gender
No of the respondents
TABLE 1: GENDER OF THE RESPONDENTS
GENDER NO OF
RESPONDENT
PERCENTAGE %
MALE 111 74
FEMALE 39 26
Total 150 100
CHART 1: GENDER OF THE RESPONDENTS

INFERENCE:
From the above table 70% of the respondents are male and
30% of the respondents are female this shows most number of respondents
are male.
TABLE 2: AGE OF THE RESPONDENTS
AGE NO OF
RESPONDENT
PERCENTAGE %
21-30 66 44
31 – 40 63 42
41– 50 15 10
> 51 6 4
Total 150 100
CHART 2: AGE OF THE RESPONDENTS

INFERENCE:
From the above table 46.67% of the respondents are between
the age of 25 – 35 and 43.33% of the respondents are between the ages of 35
– 45.
TABLE 1: MARTIAL STATUS
CATAGORY NO OF
RESPONDENT
PERCENTAGE %
SINGLE 57 38
MARRIED 93 62
Total 150 100
TABLE 3: QUALIFICATION OF THE RESPONDENTS
66
63
15
6
44
42
10
4
21-30
31 – 40
41– 50
> 51
AGE
PERCENTAGE %
NO OF
RESPONDENT

QUALIFICATION NO OF
RESPONDENT
PERCENTAGE %
GRADUATE 42 28
POST GRADUATE 84 84
PROFESSIONAL 24 24
OTHER 0 0
Total 150 100
CHART 3: QUALIFICATION OF THE
RESPONDENTS
INFERENCE:
From the above table 40% of the respondents are graduate
and 26.67% of the respondents are post graduate.
TABLE 4: OCCUPATION OF THE RESPONDENTS
OCCUPATION NO OF
RESPONDENT
PERCENTAGE %
BUSINESS 69 46
EMPLOYEE 69 46
PROFESSIONAL 12 8
RETIRED 0 0
TOTAL 150 100
CHART4: OCCUPATION OF THE RESPONDENTS
INFERENCE:

From the above table 40% of the respondents are doing own
business and 30 % of the respondents occupation is others in this case most
of the respondents are working in private agencies.
TABLE 5: ANNUAL INCOME
GROUP NO OF
RESPONDENT
PERCENTAGE %
BELOW 100000 39 26
1-3 LAKHS 45 30
3-6 LAKHS 54 36
6-9 LAKHS 9 6
9 LAKHS &
ABOVE
3 2
Total 150 100
CHART 5: ANNUAL INCOME
INFERENCE:
From the above table 90% of the respondents are earning
more than Rs.10000 per month.
TABLE 6: ARE YOU INTERESTED IN INVESTMENT
GROUP NO OF
RESPONDENT
PERCENTAGE %
YES 135 90
NO 15 10
TOTAL 150 100

CHART 6: ARE YOU INTERESTED IN INVESTMENT
INFERENCE:
From the above table 60% of the respondents are having the
experience below 10 years and 40 % respondents having 10 – 20 years
experience.
TABLE 7: WHICH COMPANY COMES TO YOUR MIND FIRST IN
LIFE INSURANCE
LIFE INSURANCE NO OF
RESPONDENT
PERCENTAGE %
LIC 45 30
ICICI PRUDENTIAL 36 24
BIRLA SUN LIFE 36 24
SBI LIFE 18 12
OTHERS 15 10
TOTAL 150 100
CHART 7: WHICH COMPANY COMES TO YOUR MIND FIRST IN
LIFE INSURANCE
INFERENCE:
From the above table 43.33% of the respondents say that
good CRM is the reason to choose this pvt ltd.
TABLE 8: HAVE YOU TAKEN ANY INSURANCE

LIFE INSURANCE NO OF
RESPONDENT
PERCENTAGE %
LIC 51 34
ICICI PRUDENTIAL 39 26
HDFC 15 10
BIRLA SUN LIFE 27 18
SBI LIFE 9 6
OTHERS 9 6
TOTAL 150 100
CHART 8: HAVE YOU TAKEN ANY INSURANCE
INFERENCE:
From the above table 60% of the customers are associated
with the pvt ltd are between 2 – 4 years.
TABLE 9: SATISFICATION WITH THE MATURITY AND
REURNS OF ICICI PRIDENTIAL LIFE INSURANCE
GROUP NO OF
RESPONDENT
PERCENTAGE %
YES 72 48
NO 78 78
Total 150 100
CHART 9: SATISFICATION WITH THE MATURITY AND
REURNS OF ICICI PRIDENTIAL LIFE INSURANCE

YES
NO
PERCENTAG
E%
86.67%
13.33%
0.00%
50.00%
100.00%
YES
NO
INFERENCE:
From the above table 90% of the respondents are having
credit cards and 3% of having no credit cards.
TABLE 10: WHICH ATTRIBUTE MAKES ICICI PRUDNETIAL BETTER
FACTORS NO OF
RESPONDENT
PERCENTAGE %
INNOVATIVE 21 14
GOOD TECHNICAL 39 26
SUPPORTIVE 30 20
HIGH RETURN 27 18
FRIENDLY PEOPLE 12 8
OTHER 21 14
TOTAL 150 100

CHART 10: WHICH ATTRIBUTE MAKES ICICI PRUDNETIAL BETTER
53.8
15.4
30.8
0 0
0
10
20
30
40
50
60
ICICI
SBI
INDIAN
BANKING
VYSIA
OTHERS
PERCENTAGE%
ICICI
SBI
INDIAN BANK
ING VYSIA
OTHERS
INFERENCE:
From the above table 53.8% of the respondents are having
ICICI credit cards.
TABLE 11: HAVE YOU HEARD OF ANY PRODUCTS OF ICICI
PRUDENTIAL
PLANS NO OF
RESPONDENT
PERCENTAGE %
SECURE PULS 15 10
GRATUITY PLAN 12 8
SAVE”N” PROTECT 9 6
MARKET LINK PLAN 48 32
CHILD PLAN 33 22

RETIREMENT PLAN 15 10
OTHERS 18 12
TOTALS 150 100
CHART 11: HAVE YOU HEARD OF ANY PRODUCTS OF ICICI
PRUDENTIAL
INFERENCE:
From the above table 30% of the respondents say that Track
record has made them to take credit card.
TABLE 12: HOW DID YOU COME TO KNOW ABOUT THESE
PLANS
FACTORS NO OF
RESPONDENT
PERCENTAGE %
NEWS PAPERS 9 6
MEDIA 36 24
ADVISORS 39 26
FRIENDS 30 20
BROKERS 36 24
OTHERS 0 0
Total 150 100
CHART 12: HOW DID YOU COME TO KNOW ABOUT THESE
PLANS

INFERENCE:
From the above table 23.33% of the respondents say interest
rate is their consideration to evaluate a company.
TABLE 13: HOW WELL THE PRODUCTS AND SERVICES OF
ICICI PRUDENTIAL SATISFIES YOUR NEEDS
GROUPS NO OF
RESPONDENT
PERCENTAGE %
VERY WELL 21 14
QUITE WELL 42 28
AVERAGE 51 34
BELOW AVERAGE 15 10
POOR 0 0
NOT APPLICABLE 21 14
Total 150 100

CHART 13: HOW WELL THE PRODUCTS AND SERVICES OF
ICICI PRUDENTIAL SATISFIES YOUR NEEDS
80
16.67
0 3.33
VERY MUCH SATISFIED SATISFIED
POOR VERY POOR
INFERENCE:
From the above table 80% of the respondents are satisfied
with the service of ANGAYARKANNI MARKETING PVT LTD.
TABLE 14: INVESTMENT DURATION
TERM NO OF
RESPONDENT
PERCENTAGE %
LONG TERM 57 38
SHORT TERM 45 30
MEDIUM TERM 48 32
Total 150 100
CHART 14: INVESTMENT DURATION

INFERENCE:
From the above table 50% of the respondents say that they
contact the company two times to get the credit card.
TABLE 15: INVESTMENT OBJECTIVES
GROUP NO OF
RESPONDENT
PERCENTAGE %
RETURNS 21 14
TAXSAVINGS 60 40
REGULAR INCOME 42 28
SECURITY 15 10
CAPITAL
APPRECIATION
9 6
OTHERS 3 2
Total 150 100
CHART 15: INVESTMENT OBJECTIVES

INFERENCE:
From the above table 66.67% of the respondents says that
they recommend the service of this pvt ltd to others 33.33% Say that they
will not recommend to others.
TABLE 16: HAVE EVER INVESTED IN MARKET LINK PLAN OF
ICICI PRUDENTIAL.
FACTOR NO OF
RESPONDENT
PERCENTAGE %
YES 78 52
NO 72 48
Total 150 100
CHART 16: HAVE EVER INVESTED IN MARKET LINK PLAN OF
ICICI PRUDENTIAL
INFERENCE:

the employees response is friendly when visiting to this marketing pvt ltd
36.67% respondents say the employee response is mixed when visit this pvt
ltd.
TABLE 17: HOW MUCH HAVE YOU INVESTED
AMOUNT NO OF
RESPONDENT
PERCENTAGE %
BELOW 25000 24 16
25000-50000 39 26
50000-75000 51 34
75000-100000 24 16
ABOVE 100000 12 8
Total 150 100
CHART 17: HOW MUCH HAVE YOU INVESTED

INFERENCE:
From the above table 43.33% of the respondent say that
financial strength has made them to get the credit card.
TABLE 18: WHAT INVESTMENT YOU PLANNING FOR
IMMEDIATE FUTURE
TYPE OF
INVESTMENT
NO OF
RESPONDENT
PERCENTAGE %
MUTUAL FUNDS 90 60
POST OFFICE SAVINGS 18 12
INSURANCE POLICY 21 14
SHARES 9 6
BANK DEPOSIT 3 2
FIXED DEPOSITS 3 2
GOLD 6 4
Total 150 100
CHART 17: WHAT INVESTMENT YOU PLANNING FOR
IMMEDIATE FUTURE

INFERENCE:
TABLE 18: ARE YOU GETTING UP TO DATE INFORMATION
REGARING YOUR INVESMENTS
FACTOR NO OF
RESPONDENT
PERCENTAGE %
YES 114 76
NO 36 24
Total 150 100
CHART 18: ARE YOU GETTING UP TO DATE INFORMATION
REGARING YOUR INVESMENTS
INFERENCE:
the employees response is friendly when visiting to this marketing pvt ltd

36.67% respondents say the employee response is mixed when visit this pvt
ltd.
TABLE 19: LIKE TO GET YHE EXPERIENCE OF SPA CAPITAL
SERVICES LTD
FACTOR NO OF
RESPONDENT
PERCENTAGE %
ALWAYS 27 18
MOST OF TIME 45 30
SOME TIME 51 34
RARELY NEVER 27 18
Total 150 100
CHART 19: YOU LIKE TO GET YHE EXPERIENCE OF SPA
CAPITAL SERVICES LTD

INFERENCE:
TABLE 20: FROM WHICH BROKER YOU PURCHASE THE
MOST OF LIFE INSURANCE PRODUCTS
BROKERS NO OF
RESPONDENT
PERCENTAGE %
SPA CAPITAL 69 46
SRM CAPITAL 15 10
ALLIANCE CAPITAL 9 6
AK CAPITAL 6 4
RELIGAR CAPITAL 18 12
GEOJITH CAPITAL 6 4
OTHER 27 18
Total 150 100
CHART 17: FROM WHICH BROKER YOU PURCHASE THE
MOST OF LIFE INSURANCE PRODUCTS

INFERENCE:

CHI SQUARE TEST (Ψ^2)
COMPRSION OF AGE AND INSURANCE PEOPLE TAKEN
Null Hypothesis (HO):
There is no significant relationship with age and insurance people taken at
iciciprudential.
Alternate Hypothesis(H1):
There is significant relationship with age and insurance people taken at
iciciprudential.
AGE/INSURANCE
TAKEN LIC
ICICIPRU HDFC BSLIFE SBI OTHERS TOTAL
21-30 24 6 6 3 3 3 45
31-41 39 15 12 15 0 3 84
41-50 3 6 0 0 0 0 9
51& above 0 9 0 0 0 3 12
Total 66 36 18 18 3 9 150

Distribution Table
chi-square table
Observe
frequency(O)
Expected
Frequency(E)
(O-E) (O-E)2
(O-E)2
/ E
24 19.8 4.2 17.64 0.8909
6 10.8 -4.8 23.04 2.1333
6 5.4 0.6 0.36 0.0666
3 5.4 -2.4 5.76 1.0666
3 0.9 2.1 4.41 4.9
3 2.7 0.3 0.09 0.0333
39 36.96 2.04 4.16 0.1125
15 20.16 -5.16 26.62 1.3204
12 10.08 1.92 3.68 0.365
15 10.08 4.92 24.20 2.240
3 5.04 -2.04 4.16 0.8253
3 1.32 1.68 2.82 2.1363
6 2.16 3.84 14.74 6.824
9 2.88 6.12 37.45 13.003
3 0.72 2.28 5.19 7.208
TOTAL 43.1251

Calculation
Calculated value =43.1251
Degree of freedom = (r-1) (c-1)
= (6-1) (4-1)
= 5*3
= 15
The tabulated value of Ψ^2 at 15 degree of freedom and at 0.05 level of
significance is 24.996
43.1251 > 24 .296
Since the calculated value is greater than the tabulated value then null
hypothesis is rejected and alternative hypothesis is accepted.
INFERENCE:
There is significant relationship between age and insurance people taken..

ANALYSIS OF OCCUPATION AND INVESMENT OBJECTIVE
HYPOTHESIS
Null Hypothesis:
There is no significant relationship between occupation and investment
objective of the respondent.
Alternate Hypothesis:
There is significant relationship between occupation and investment objective
of the respondenrt.
.
Distribution table
OCCUPATION
AND
INVESTMENT
OBJECTIVE
RETU
RNS
TAX
SAVINGS
REGULA
R
INCOME
SECURITY
CAPITAL
APPRECI
ATION
OTHERS
TOTAL
BUSINESS 9 18 18 6 6 0 57
EMPLOYEE 18 24 21 5 1 0 78
PROFESSIONAL 0 12 3 2 0 0 15
RETIRED 0 0 0 0 0 0 0
Total 27 54 42 9 18 0 150

Chi-square Table
Observe
frequency(O)
Expected
Frequency(E)
(O-E) (O-E)2
(O-E)2
/ E
9 10.26 -1.26 1.587 0.1546
18 20.52 -2.52 6.350 0.3094
18 15.96 2.04 4.161 0.2607
6 3.42 2.58 6.656 1.9461
6 6.84 -0.84 0.7056 0.1031
18 9.36 8.64 74.644 7.9747
24 28.08 -4.08 16.646 0.5928
21 21.84 -0.84 0.7056 0.0323
3 4.68 -1.68 2.822 0.6029
12 9.36 2.64 6.9696 0.7446
12 5.4 6.6 43.56 8.0666
3 4.2 -1.2 1.44 0.3428
TOTAL 21.13
Degree of freedom:
= (r-1) (c-1)
= (6-1) (4-1)
= 5*3
Ψ^2 = 15
The tabulated value of Ψ^2 at 15 degree of freedom and at 0.05 level of
significance is = 24.996
Calculated value = 21.13

Tabulated value = 24.996
21.13< 24.996
Since the calculated value is less than the tabulated value Null Hypothesis is
accepted and Alternate Hypothesis is rejected.
INFERENCE:
There is significant relationship between the occupation and there investment
objective of the respondents.
6 FINDINGS
1. The male respondents are 69.3% and female respondents are
30.6%.
2. 26.6% respondents are between the age group 36 -–40 years, 20%
of the respondents were between the age group 41 – 50, and
followed by 51, 31 – 35 and 25 – 30, < 25 with the percentage 8%,
9.3%, 19.3%, and 16.6%.
3. The number of respondents are graduates are 36%, the post
graduates are 29.3%,the HSC and others with 20% and
14.6%.
4. The number of respondents are in the annual income group
between 200000 – 500000 are 42%.
5. The respondents are 50% of private employees, 26.6% are
government servants and self employees are 23.3%.

6. The respondents were aware of LIC followed by ICICI
PRUDENTIAL, OTHERS, BIRLA SUN LIFE and SBI
LIFE.
7. The respondents have invested in insurance for life coverage are
56%, followed by investments are 16.6%, returns, liquidity and
others.
8. The respondents invested in fixed deposits are 32.7%,followed by
mutual funds are 20%, real estates and others.
9. The respondents are aware of the market link plans are 73.3%,
only 26.6% of respondents are not aware of the market links plans.
10. From the respondents we got the information about the market links
plans through newspapers are 34.5%, followed by advisors,
advertisement and friends.
11. 33.3% of the respondents are willing to take moderate risk followed
by risk average, low risk, and high risk.
12. The respondents are not aware of the market link plans are 58.6%,
and only 41.3% of respondents are aware of the market link
plans.
13. It can be inferred that 51.6% of the respondents have invested
below 25000 followed by 25000 – 50000, 75000 – 100000 and
above 100000.
14. It is clear that 33.3% of the respondents are satisfied, 23.3% are
highly satisfied, 23.3% are average satisfied, 13.3% are dissatisfied
and 6.6% are highly dissatisfied.
15. 36.6% of the respondents have invested in LIC followed by BIRLA
SUN LIFE, OTHERS, HDFC STANDARD and SBI LIFE.
7.SUGGESTIONS
1. Advertisement is very important to increase the sale of insurance product
if ICICI Prudential.
2. Regular availability of some beneficial schemes can help in increasing the
brand image as well as market share.
3. Concentration and motivating the people the life insurance.
4. Expectations of the customer in some new schemes which benefited to
the customers with the company.

5. It is beneficial to introduce some low price premium policies.
6. The investors should be educated about the equity and debt market.
7. The investors should be given monthly reports instead of quarterly reports.
8. The advisors should be provided with good training about the products
before meet the customers.
9. It is suggested that policies and strategies of the company should be
based on the current trends of the market.
10. Again the population 105 crores only 10 crores are covered by insurance.
Private insurance have to reach to all segment of market by winning the
confidence of the public.

8. CONCULSION
Earlier LIC use to enjoy the monopoly in India, but after globalization it has got
huge competition from players due to the excellent innovate policies from them.
And now, people started diverting towards private Life insurance companies
which was not seen before ten years. Among the private ICICI PRUDENTIAL
LIFE INSURANCE has a huge share of 48%.
Effective corporate governance of insurance would entitle the quality of
reporting both internal and to the market on the performance measures with
adequate emphasis. The executive concern should make regular effects to
strength the reporting and bridging the gaps this calls for continuous and pro
active on the part of executives to survey the information.

9. BIBLIOGRAPHY
AUTHOR
NAME
BOOK
NAME
PUBLISHER EDITION
Berry Marketing
Research
Prentice, Hl
Publications
11th
edition
Culture Philip Marketing
Management
Eastern
Economy
Edition
10th
edition
WEB SITES

1. www.insurancemagic.com
2. www.iciciprulife.com
3. www.irtaindia.com
QUESTIONNAIRE
I am S.AntonyPrabhu an MBA student of SRR ENGINEERING
COLLEGE. I request you to kindly spare a few minutes of your valuable time to spend
respond to my questionnaire.
BRAND AWARENESS AND CUSTOMER PREFERENCE ABOUT ICICI
PRUDENTIAL LIFE INSURANCE
1. Name :
2. Gender : Male □ Female □
3. Age : 21-30 □ 31-40 □ 41-50 □ 51&above □

4. Marital Status : Single □ Married □
6. Education : U.G □ P.G □ Professional □
7. Occupation : Business □ Employee □ Professional □ Retired □
8. Annual Income :
Below 100000 □ 1-3Lakhs □ 3-6 Lakhs □ 6-9 Lakhs
□ 9Lakhs & above □
9. Are you interested in investment?
□ Yes □ No
10. If I say life insurance which company comes to your mind?
A) L.I.C □b) ICICI Prudential □ C) Birla Sun Life □ d) SBI Life □ e)
Others □
11.Have you taken any insurance ,if so please mention the company ?
A) L.I.C □b) ICICI Prudential □C) HDFC□ D) Birla Sun Life □ E) SBI
Life □ F) Others □
12. Are you satisfied with the maturity periods and returns that you get through by
ICICI Prudential?
□ YES □NO

13. Which of the following describes your perception of ICICI PRUDENTIAL LIFE
INSURANCE better (check all that applies)?
Innovative □ good technical □ support □ High return □ Friendly
people □ Other □
14. Have you heard of any of the following products of ICICI PRUDENTIAL LIFE
INSURANCE ltd?
Secure plus □ Gratuity Plan□ Save “n” Protect □ Market Linked plan□
Child Plans□ Retirement plan □ Other□
15. How did you come to know about these plans?
a) News Papers □ b) Media □ c) Advisors □ d) Friends □Brokers□
16. How well do the products and services of ICICI PRUDENTIAL LIFE
INSURANCE satisfy your needs?
Very well □Quite well □ Average □Below average□ Poor □ not applicable□
17. What is your investment duration?
Long Term □ Short Term □ Medium Term □
18. What are your Investment Objectives?
Returns □ Tax Savings □ Regular Income □ Security □Capital
Appreciation □ Others □
19. Have you ever invested in the market link insurance plans of ICICI Prudential?

Brand Awareness and Customer Preferences Study of ICICI Prudential Life Insurance

Brand Awareness and Customer Preferences Study of ICICI Prudential Life Insurance

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