The Study of Advertisement Effectiveness of LIC Companies on Consumer Behaviour

business administration

Advertising gives information about brand, products, services or ideas and helps in pursuing customers to create, maintain brand image among the society/community and put a positive favorable impression about the features of the product as well as brand. Private players have launched many innovative products in the industry in terms of the products, customer services etc. They have adopted effective advertisement, marketing strategies and advertisement campaign with advertisement effectiveness for making or promoting plans or products more attractive to their prospective customers. Post liberalization and WTO era private insurance companies with permission of IRDA was allowed and there after scenario in insurance sector changed drastically with more and people got covered under the insurance umbrella. Advertising in life insurance sector also grew with leaps & bounds developing and mushrooming due to the expanding and Brand building, advertising is synonymous with product advertising and is commonly seen in traditional mass media, including TV, radio, magazine, and newspaper which are depicted from the analysis. A new trend has come with insurance getting allinged with many consumer durables, Housing etc. which has increased the scope of coverage in wide variety of products.

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