Consumer Shopping for Begaviour

 Consumer Buying Begaviour Research Paper

Abstract

This project fundamentally deals with Outlook of a buyer for significant private Life insurance coverage Company. Notion of buyer before getting any strategy is studied. This job helps us to know if the consumer pay much more attention to plan, brand and advisor / Seller prior to purchase of any kind of plan, moreover reason to acquire the insurance by the consumer is also studied. Which Plan can be preferred more by which age group of people is likewise studied through this project.

Besides this whether or not the promotion strategy like ad, public relation affects the purchase decision of consumer and the inclination of customer to pay the superior (Annually, Half-yearly, quarterly, and monthly) is definitely studied.

This kind of study requires the collection of Primary info and supplementary data. The main data is usually collected by the questionnaire filled by the respondent of various sector and various age group.

Secondary data is collected from the web and numerous books of insurance and brochure offered by the company.

This work done simply by me assists me to learn the desire of client before opting for any insurance plan and help me personally to focus my personal study towards the Reliance insurance coverage company. It will help me to design the strategies for Reliance and just how it can build the brand dedication among the consumer and further assists me to find out the perception among the customer for RLIC and how it could improve in the services to get number 1 exclusive Life Insurance business

Table of Content

TopicPage No .

Introduction……………………………………………………………….. 5

Types of Existence Insurance……………………………………………………………………... a few

History of Your life Insurance……………………………………………………………. being unfaithful

Industry Profile………………………………………………………………………11

Market share from the private insurance coverage company…………………………………….. 13 Company profile…………………………………………………………………….. 14

Vision………………………………………………………………………………………….. 15

Mission…………………………………………………………………………………………15 Goals…………………………………………………………………………………………... 12-15 Reliance A life insurance policy Plans………………………………………………………………. 15

Consumer Behavior………………………………………………………………….. 16

Factors affecting customer behavior………………………………………………………... seventeen Objectives of Project………………………………………………………………….. 3 Methodology……………………………………………………………………………24 Questionnaire………………………………………………………………………….. 28 Analysis of Questionnaire…………………………………………………………….. 29 Analysis for RLIC only…………………………………………………………………45 Appendix……………………………………………………………………………….. 54 Reference……………………………………………………………………………….. 55

Launch

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Life insurance or perhaps life assurance is a deal between the coverage owner plus the insurer, the place that the insurer confirms to spend a sum of money upon the occurrence with the insured person's or people's death or perhaps other function, such as port illness or perhaps critical illness. In return, the policy owner agrees to pay a stipulated sum called a high quality at frequent intervals or perhaps in lump sums.

The danger, which can be covered against incorporate fire, the peril of sea, fatality, incident, & burglary. Virtually any risk conditional upon these kinds of may be covered against at a premium commensurate with the risk involved.

Life-based contracts often fall into two major categories:

Protection guidelines - built to provide a profit in the event of specified event, commonly a lump sum payment. A common form of this design is term insurance.

Expense policies - where the main objective is to facilitate the expansion of capital by standard or solitary premiums. Common forms happen to be whole life, universal life and variable existence policies.

Types of insurance coverage

Life insurance may be divided into two basic classes – momentary and long lasting or following subclasses term, universal, expereince of living and diathesis life insurance.

TEMPORARY TERM

Term assurance: offers life insurance coverage for the specified term of years for a particular premium. The policy would not accumulate money value. Term is generally deemed " pure" insurance, where the premium...

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