Lic Jeevan Saral Market Research
M.E.T (Bandra West, Mumbai)
PGDM (2012-14)
Title of the Project: Consumer buying behavior of Jeevan Saral Policy in Mumbai
Submitted By:
Amreen Khan PG12062
Shweta Oza PG12066
Varun Siddharth PG12082
Omkar vartak PG12089
Sandhya Thapar PG12090
Supriya Semwal PG12119
Submitted to: Prof. Naik
Executive Summary
Flow of the Project: The project starts with a brief introduction of the Jeevan Saral Policy which includes the objective of the company and its strategy. The project also includes the consumer buying behavior of insurance policy which comprises of the factors influencing the buying behavior. The analysis of the questionnaires and recommendations are in the later part of the project.
Research Methodology: Structured questionnaire with both open and close ended questions has been filled by the respondents.
Sampling technique used: The technique used for sampling is random sample
Sampling Unit: The sampling units for the questionnaire method were the LIC customers having Jeevan Saral Policy.
Sample Size: The survey was conducted among 30 customers selected on random sample.
Contents Introduction of Jeevan Saral 4 Organizational Objectives: 4 Organizational Strategies 5 Marketing Objective 5 Marketing Strategies 5 Situations: 5 Consumer Buying Behavior for Insurance Products 6 The Buying Decision Process: 6 Factors influencing consumer behavior 7 Analysis 10 Recommendations: 16 Annexure 17 Questionnaire for LIC Jeevan Saral Policy 17
Introduction of Jeevan Saral
LIC Jeevan Saral was introduced by LIC in 2004 and the policy has been doing fantastic business for LIC. This product has already won Golden Peacock award.
This is an Endowment Assurance plan. LIC Jeevan Saral has flexibilities that are usually available only with unit linked insurance plans. Hence it is categorized under Special Plans. This is a non unit-linked insurance plan with Double Death Benefit of Sum Assured + Return of Premium.
In this
PGDM (2012-14)
Title of the Project: Consumer buying behavior of Jeevan Saral Policy in Mumbai
Submitted By:
Amreen Khan PG12062
Shweta Oza PG12066
Varun Siddharth PG12082
Omkar vartak PG12089
Sandhya Thapar PG12090
Supriya Semwal PG12119
Submitted to: Prof. Naik
Executive Summary
Flow of the Project: The project starts with a brief introduction of the Jeevan Saral Policy which includes the objective of the company and its strategy. The project also includes the consumer buying behavior of insurance policy which comprises of the factors influencing the buying behavior. The analysis of the questionnaires and recommendations are in the later part of the project.
Research Methodology: Structured questionnaire with both open and close ended questions has been filled by the respondents.
Sampling technique used: The technique used for sampling is random sample
Sampling Unit: The sampling units for the questionnaire method were the LIC customers having Jeevan Saral Policy.
Sample Size: The survey was conducted among 30 customers selected on random sample.
Contents Introduction of Jeevan Saral 4 Organizational Objectives: 4 Organizational Strategies 5 Marketing Objective 5 Marketing Strategies 5 Situations: 5 Consumer Buying Behavior for Insurance Products 6 The Buying Decision Process: 6 Factors influencing consumer behavior 7 Analysis 10 Recommendations: 16 Annexure 17 Questionnaire for LIC Jeevan Saral Policy 17
Introduction of Jeevan Saral
LIC Jeevan Saral was introduced by LIC in 2004 and the policy has been doing fantastic business for LIC. This product has already won Golden Peacock award.
This is an Endowment Assurance plan. LIC Jeevan Saral has flexibilities that are usually available only with unit linked insurance plans. Hence it is categorized under Special Plans. This is a non unit-linked insurance plan with Double Death Benefit of Sum Assured + Return of Premium.
In this