Microsoft spent more than $200 million on its media advertising campaign
when it introduced Windows 95.
Sunday, 31 May 2020
social media advertising examples
Microsoft spent more than $200 million on its media advertising campaign
when it introduced Windows 95.
NEW PRODUCT DEVELOPMENT - LEARN BY EXAMPLES MARKETING MANAGEMENT
NEW PRODUCT DEVELOPMENT - LEARN BY EXAMPLES MARKETING MANAGEMENT
Example:
Apple computer subjects its PowerBook to many rigorous tests and one such
test involves heating the computer notebook in ovens to 140 degrees.
200 Gillette employees
test company products such as razors, blades, shaving creams, or aftershave under instructions
of technicians every day and afterwards fill out a questionnaire.
Saturday, 30 May 2020
Friday, 29 May 2020
ATROCITIES OF CHINA ON TIBET PEOPLE
ATROCITIES OF CHINA ON TIBET PEOPLE
The west is correcting a 70 year old mistake
https://www.youtube.com/watch?v=eP6x43LeJTEwhat is NEXT
what is NEXT
digital marketing
Thursday, 28 May 2020
Sadhu Sant - Satsang - spiritual gurus teachers
Sadhu Sant - Satsang
आदमी आदमी में अंतर है कोई हीरा है कोई कंकर है || Sant Shri Asang Dev Ji Maharaj || सुखद सत्संग
Monday, 25 May 2020
अमेरिका ने परमाणु परीक्षण करने की ठान ली है
अमेरिका ने परमाणु परीक्षण करने की ठान ली है
इस अमेरिकी परमाणु परीक्षण से भारत को भी बहुत सारा फायदा होने वाला है
अमेरिका चीन को डराने के लिए अब परमाणु परीक्षण का सहारा ले रहा है
यह परीक्षण सबके सामने पूरी दुनिया के सामने किए जा सकते हैं
आज तक जो परीक्षण परमाणु परीक्षण जो किए गए हैं वह नीचे दिए गए हैं
ATOMIC TEST CONDUCTED
USA 1056
RUSSIA 715
FRANCE 175
CHINA 100
BRITAN 12
NORTH KOREA 6
INDIA 6
PAKISTAN 5
भारत में आज तक अंडर ग्राउंड परमाणु परीक्षण किए हैं
परमाणु परीक्षण अंडर ग्राउंड पानी में और हवा में भी किए जा सकते हैं
अमेरिका रशिया फ्रांस चाइना ने ऐसे परीक्षण किए हैं
परंतु यह सारे देश भारत को यह परमाणु परीक्षण पानी में और हवा में करने नहीं दे रहे
किसी भी देश को अपनी परमाणु शक्ति का अंदाजा लेने के लिए ऐसे परमाणु परीक्षण समय-समय पर टेस्टिंग करना जरूरी है
भारत को परमाणु संपन्न शक्ति मारने से बाकी देशों ने मना कर दिया है
क्योंकि भारत ने सीटीबीटी पर साइन नहीं किया है
भारत का मानना यह है कि यह भेदभाव पूर्ण है
कुछ देशों ने पहले ही परमाणु परीक्षण कर लिए हैं और वह सीटीबीटी पर साइन करके अब दूसरे देशों के खिलाफ ऐसे परीक्षण ना करने के लिए दबाव ला रहे हैं
इसीलिए भारत ने अभी तक सीटीबीटी पर साइन नहीं किया है
इंटरनेशनल प्रेशर की वजह से भारत परमाणु परीक्षण आगे नहीं कर सकता
परंतु अगर अमेरिका सीटीबीटी के नियम का उल्लंघन करता है तोड़ता है तो सीटीबीटी टूट जाती है
अगर सीटीबीटी टूट जाती है तो भारत के लिए भी इसके नियम मानना जरूरी नहीं है
भारत अपनी परमाणु परीक्षण आगे कर सकता है और दुनिया भारत को परमाणु परीक्षण संपन्न देश का दर्जा दे देगी
यह परमाणु परीक्षण बहुत ही महत्वपूर्ण है चाइना को काउंटर करने के लिए या चाइना से लड़ने के लिए
पाकिस्तान को इससे ज्यादा फायदा नहीं होगा क्योंकि ऐसे परीक्षण करने के लिए बहुत सारे पैसे की जरूरत होती है
पाकिस्तान की इकोनॉमी बहुत खस्ता हालत में बहुत खराब हालत में चल रही है
पाकिस्तान इंटरनेशनल प्रेशर का मुकाबला नहीं कर पाएगा अगर वह परमाणु परीक्षण आगे करता है तो
तो हम चाहते हैं कि अमेरिका परमाणु परीक्षण करें और सीटीबीटी कैंसिल हो और उसका सीधा फायदा भारत को हो जाए और हमें और परीक्षण करने का मौका मिल जाए ताकि हमारी मिलिट्री स्ट्रांग होकर चाइना की मिलिट्री के साथ अच्छे तरीके से मुकाबला कर सके और कोई भी देश भारत की तरफ जंग के लिए माहौल पैदा ना कर सके
Sunday, 24 May 2020
Examples:- Customer Expectations and Perceptions of Services through Marketing Research
Examples:-
Customer Expectations and Perceptions of Services through Marketing Research
SOTC, the outbound tour package company began as a one-shop outlet from
then Bombay, during the fifties. The owners were in direct contact with its customers and were
able to tailor their products uniquely to satisfy their customers. With success came the desire to
expand - geographically as well as in operation terms. They were thus forced to take on
intermediaries like Travel Agents and franchisees. Now it were the latter who were ‘in touch’
with the customers, not SOTC. They would therefore resort to MR to know the changing customer
preferences as well as about the marketing mixes.
Example: Metro Cash and Carry, the giant German retailer would have made a SLEPT
analysis before making its entrée into India, as foreign retailers have not yet been permitted to
function in a full-fledged manner. So it is now working under a very restricted format not
dealing with customers but with retailers and wholesalers. Its huge power (it is a $54 billion
retailer) has already raised fears from established players about the crushing competition.
Research into Customer Needs: This will help the service marketer to know his different needs,
especially his latent needs, and develop new service products.
Example: Gujarat based Lalbhais who are into textiles (Arvind denim) would have made
an attempt to find out the latent needs of the urban and upwardly mobile Indian parents for a
high quality pre-school institution, before venturing into Eurokids, their successful education
franchise.
Saturday, 23 May 2020
Marketing products Documetory YOUTUBE VIDEOS
Marketing products Documetory
https://www.youtube.com/watch?v=Roli4tLwRgk
Birth of An Icon: TIDE
Why does your Tide package look different?
Cadbury's Brand Story
Marketing is about VALUES - Steve Jobs Rule #9 of 10
learn by Examples - PHYSICAL ENVIORNEMNT to the Sevices
learn by Examples - PHYSICAL ENVIORNEMNT to the Sevices
Restaurant
Example: A couple who want to dine at a restaurant that offers a quiet and serene
ambience, would avoid going to a crowded restaurant as they perceive that the restaurant is
always noisy due to the large number of people it caters to. The design of the interiors has the
capability to give rise to a positive perception about the service.
malls
Also people these days like
going to malls as they provide a perfect ambience for shopping (and window shopping). The
malls are fully air-conditioned with mild aroma filling in the air, sometimes good music too.
They are properly lit, spacious and clean. Malls also have proper signages to direct the customer.
Overall, they provide a nice shopping experience.
Restaurant
Example: A couple who want to dine at a restaurant that offers a quiet and serene
ambience, would avoid going to a crowded restaurant as they perceive that the restaurant is
always noisy due to the large number of people it caters to. The design of the interiors has the
capability to give rise to a positive perception about the service.
malls
Also people these days like
going to malls as they provide a perfect ambience for shopping (and window shopping). The
malls are fully air-conditioned with mild aroma filling in the air, sometimes good music too.
They are properly lit, spacious and clean. Malls also have proper signages to direct the customer.
Overall, they provide a nice shopping experience.
learn by Examples - Tangiblity to the Sevices
learn by Examples - Tangiblity to the Sevices
McDonald
In the case of McDonald’s, the uniform colour scheme, the environment, the
graphics, dress code of the personnel, and the ubiquitous and familiar golden arches help to
make the service element tangible. Another prominent example of a company, which makes
service tangible through its personnel, is that of Walt Disney World. The theme park company
enforces strict personal grooming standards for all its employees, known as ‘cast members’.
This helps the company maintain a uniformly pleasant appearance among all its service personnel
and give tangibility to the service. In the case of McDonald’s, the uniform colour scheme, the environment, the
Walt Disney
graphics, dress code of the personnel, and the ubiquitous and familiar golden arches help to
make the service element tangible. Another prominent example of a company, which makes
service tangible through its personnel, is that of Walt Disney World. The theme park company
enforces strict personal grooming standards for all its employees, known as ‘cast members’.
This helps the company maintain a uniformly pleasant appearance among all its service personnel
and give tangibility to the service.
Thursday, 21 May 2020
चीन को लग रहा है कि इंडिया अगला इसराइल बनने वाला है
CHINA FEARS FROM INDIAN DEFENCE SYSTEM
चीन को लग रहा है कि इंडिया अगला इसराइल बनने वाला है क्यों यह बात मैं कह रहा हूं इसका मतलब है कि इसराइल ने अपनी सीमा को अभय दे कर दिया है कोई भी मिसाइल उनके सीमा के अंदर नहीं जा सकता कोई भी मिसाइल उनके सिटी को टारगेट नहीं कर सकता वैसे ही इंडिया भी अपनी सीमाओं को अभय द करने वाला है
इंडिया के पास बहुत सारी मिसाइल है चाइना और पाकिस्तान को जवाब देने के लिए इंडिया के बस दो ही ऐसे मुल्क है जिनसे इंडिया को खतरा है वह पाकिस्तान और चाइना परंतु चाइना के पास उनके बॉर्डर के आजू-बाजू बहुत सारे मुल्क है जैसे इंडिया है साउथ कोरिया है जापान है वियतनाम है इंडोनेशिया है मलेशिया है रसिया है मंगोलिया है इन सब कंट्रीज के साथ चाइना का बॉर्डर डिस्प्यूट चल रहा है
चाइना दुनिया में अपनी सीमाओं का प्रसार करने वाला देश माना गया है
चाइना अपने लोगों की जरूरत पूरी करने के लिए हमेशा रिसोर्सेज संसाधनों की खोज में लगा रहता है उसकी वजह से वह आजू-बाजू के मुल्कों पर अपना हक बताता है यहां तक कि रसिया के साथ भी उसके संबंध बॉर्डर डिस्प्यूट को लेकर अच्छे नहीं है वह रसिया के भी कुछ एरियाज हथियाना चाहता है जहां पर नेचुरल रिसोर्सेज बहुत ज्यादा है
इंडिया का कंसर्न यह है कि चाइना इंडिया पर हमला कर सकता है तो इंडिया कैसे जवाब देगा
इंडिया के पास बहुत सारी मिसाइल है अग्नि सीरीज की जो कि हवा पानी या जमीन से मार करने वाली क्षमता की है
इंडिया एटॉमिक पावर भी है और सबमरीन के साथ मिसाइल भी दाग सकता है
परंतु इंडिया ने डिफेंस सिस्टम में ज्यादा डेवलपमेंट नहीं किया इसलिए उसको इजरायल और अमेरिका से लेकर डिफेंस सिस्टम आयात करना पड़ा रसिया से भी s400 मंगाए हैं बट वह आना बाकी है
इंडिया ने अपने बीएमडी डिफेंस स्टीम बी डिवेलप किए हैं जो कि पाकिस्तान के लिए काफी है वह अच्छे क्वालिटी के भी है और सस्ते भी है इंडिया इसका मास प्रोडक्शन करके अपनी बॉर्डर को सील कर सकता है और अपनी कंट्री को डिफेंस शील की तरह इजरायल की तरह बना सकता है
पाकिस्तान तो इंडिया के सामने बहुत ही छोटा मुल्क है
हम बीएमडीसी डिफेंस सिस्टम से अपना पाकिस्तान का बॉर्डर सील कर सकते बंद कर सकते पाकिस्तान की कोई भी मिसाइल इंडिया में आ ही नहीं सकती
यही डिफेंस सिस्टम यूज करके हम चाइना का बॉर्डर भी सील कर सकते हैं बट अभी उतना प्रोडक्शन इस सिस्टम का नहीं हुआ है इसके लिए अभी थोड़ी देर बाकी है
चाइना को डर है कि इंडिया इजरायल की तरह मिसाइल और डिफेंस स्टीम में दुनिया का नंबर वन देश हो जाएगा उसके बाद चाइना उसको धमकी नहीं दे सकता
चाइना के लिए इंडिया एक बड़ा प्रतियोगी और दुश्मन है जोकि चाइना से नंबर वन की पोजीशन हासिल कर सकता है या अपने पास ले सकता HAI
Wednesday, 20 May 2020
Nepal has UNNCESSARILY created border dispute with India
Nepal has UNNCESSARILY created border dispute with India
Nepal today issue of Kalapani border india to the China but China said internal matter of India and both the nation should solve matter with discussion
Nepal trishul new map for administrative and political purposes in which leg and Kala Pani area along with 395 square kilometre area of India shown to be Nepal area
This map will be used in school colleges and Universities
This month will be put in front of Parliament for the approval
India is dissatisfied with the actions of Nepal and raise objection strongly
Nepal given strong message that if you want to use military power we will use to get this areas which is highly ridiculous
Nepal also knows it cannot fight with India however prime Minister has gone insane to take such steps
India can use border send limit the area buy iron fencing
Area of India will remain with India only india has cleared it send
Services - Examples
Services - Examples
A travel agency may offer every possible service or specializes
in a certain type of business. In that sense travel agencies can be
divided into different types
according to the services they offer. Here are some examples:
Full-service travel agency
Offering all services and products related to international and
domestic travel.
is equipped to handle all types of travel such as holiday and
business travel on
individual or group based.
smaller agencies situated in residential areas tend to concentrate
on leisure travel.
larger agencies serving commercial areas will concentrate on business travel.
Corporate/ Business travel agency
specialize solely in servicing the travel needs of the business or
corporate clients, in
that sense they deal with work-related and incentive travel
In-house travel agency
differs from the corporate travel agency in the sense that they work
with only one
corporate account doing mainly business travel but also handling the
leisure side for
corporate clients
Types of hotels
1. One star hotels
These hotels belong to the no-frills variety that offers basic bedding
and bathroom facilities.
The furniture, décor, etc. may not be of high quality, but is mostly
comfortable.
Arrangements for meals may or may not be included.
2. Two star hotels
. The extra star here is for a proper reception desk and some amount
of staff presence. Two
star hotels are suitable for people with limited budgets but who are
travelling with their
families and need a reasonably safe place to stay
3. Three star hotels
Three star hotels are mostly good for business travellers who are
travelling for a short period
on business. They are also a good option for female travellers who are
travelling alone and
don’t want the tension of staying at a place where their security
could be at risk or their
belongings unsafe. Three-star hotels are generally part of a larger
chain and have footprints in
more than one location.
4. Four star hotels
The premium variety of hotels starts from here. There will be larger
rooms, better décor,
more amenities, and better services like availability of porters,
24-hour room service, laundry,
and multi-cuisine restaurants. Four star hotels are mostly used by
corporate travellers where
the company pays for the stay.
5. Five star hotels
Five star hotels are top level hotels. Breakfast served in bed, shoes
polished, clothes washed
and facilities for getting almost. Other facilities include huge
lobbies, round-the-clock room
service, swimming pools, gyms, sauna, spas, badminton/tennis courts,
beauty salons – etc.
The staff in these hotels mostly comprises hotel management graduates
from the best schools,
well-trained in customer service, crisis management, etc. The
clientele that five star hotels
cater to include big names from fields of entertainment, business, and sports.
6. Five star deluxe hotels
This type of hotels caters to the movers and shakers of the world. A
private balcony, fully
stocked mini-bar, personal masseur, king-sized beds – these are just
some of the rare luxuries
you can treat yourself to at a five star deluxe hotel. The most
well-known brands belonging to
this category include the Taj, Hilton, Leela Palace, Grand Hyatt.
Following is the list of some typical financial products available in
the market.
- Savings and Recurring Account
- Current Account
- Fixed Deposits
- Retail Loan Products
- Commercial Loans
- Leasing and Hire Purchase
- Credit Cards
- Insurance
- Mutual Funds
Non-Life Insurance Policies
1. Home and contents insurance
Home and contents insurance is important cover and should be considered by all
consumers. It seeks to cover the insured for damage to their home as
well as the contents of
the home. Consumers should ensure they have appropriate level of cover
for their home to
School of Distance Education
Service Management Page 42
ensure they are not underinsured. Insurance cover should always match
the replacement cost
of the property. Underinsurance could result in consumers paying the
gap between their
insurance pay-out and the building costs. Contents insurance should be
considered by all
consumers, including tenants and renters, who often neglect to insure
their household items.
It has its limits and consumers should contact their insurer if they
have any special items they
would like insured separately, such as expensive jewellery or works of
art. The Product
Disclosure Statement (PDS) will outline the limits and exclusions of the policy.
2. Motor Vehicle Insurance
There are four types of motor vehicle insurance: Compulsory Third Party (CTP)
Insurance; Comprehensive Insurance; Fire and Theft Only; and Third
Party Property Only.
Consumers should shop around and ensure they purchase cover
appropriate to their situation.
a.CTP
CTP is mandatory in all States and Territories and provides
compensation for bodily injuries
caused by vehicles. It does not provide cover for any damage to the
vehicle and therefore
other forms of motor vehicle insurance should also be purchased.
b. Comprehensive Insurance
Comprehensive Insurance can cover damage to vehicles, theft of
vehicles, collision,
malicious damage and weather damage. Depending on the policy, it can
cover damage caused
to other vehicles.
c.Fire and Theft Only
Fire and Theft only is a limited form of insurance that only covers
for fire damage to, and
theft of, vehicles. It does not cover collision damage to vehicles.
d. Third Party insurance
Third Party Property insurance provides cover for vehicles damaged by
the policyholder's
vehicle. It does not provide cover for the policyholder's own vehicle.
This product is
generally only taken out by consumers with a low value vehicle,
protecting themselves
against damage to other motorists.
3. Business insurance
Business insurance is important for many business owners to
appropriately mitigate
risk and protect their livelihoods. Insurance companies provide a
variety of policies that cover
small businesses, trades people, professionals, hospitality operators
and more. It is taken out
by many businesses to ensure they can cover a variety of unforeseen
circumstances, such as
fire, theft, accidental damage, equipment breakdown, property damage,
third party cover and
more.
4. Work Cover Insurance
Workers Compensation is mandatory insurance provided by employers to cover
injuries caused to their employees while working. It provides
protection for both employees
School of Distance Education
Service Management Page 43
and employers. Each State and Territory manages Workers Compensation
differently and has
its own legislation and governing body. Businesses can self-insure.
However, they are still
accountable to the same State or Territory based laws. In the event of
injury, employees are
required to contact their employer within a given time frame. Claims
can be paid out in the
form of weekly benefits, hospital expenses, lump sum payments, and more.
5. Travel insurance
Travel insurance is important for any consumers travelling for
recreation or business.
It covers instances such as: trip cancellation/interruption, medical
expenses, baggage
damage/theft, and others. Products vary between companies and every
policy contains its
own exclusions. Consumers should check their Product Disclosure
Statement (PDS) before
purchasing a particular product. Products are based on the age and
health of the insured, the
travel destination as well as the length of stay. To receive
appropriate cover, consumers must
seek out the right cover and honestly appraise their situation.
Various types of life insurance policies
These are the basic types of life insurance policies. All other life
insurance policies are built
around these basic insurance policies by combination of various other features.
1. Term Insurance Policy
A term insurance policy is a pure risk cover policy that protects the
person insured for
a specific period of time. In such type of a life insurance policy, a
fixed sum of money called
the sum assured is paid to the beneficiaries (family) if the
policyholder expires within the
School of Distance Education
Service Management Page 44
policy term. For instance, if a person buys aRs 2 lakh policies for 15
years, his family is
entitled to the sum of Rs 2 lakh if he dies within that 15-year
period. If the policy holder
survives the 15-year period, the premiums paid are not returned back.
The advantage, apart
from the financial security for an individual’s family is that the
premiums paid are exempt
from tax. These insurance policies are designed to provide 100 per
cent risk cover and hence
they do not have any additional charges other than the basic ones.
This makes premiums paid
under such life insurance policies the lowest in the life insurance category.
2.Whole Life Policy
A whole life policy covers a policyholder against death, throughout
his life term. The
advantage that an individual gets when he / she opts for a whole life
policy is that the validity
of this life insurance policy is not defined and hence the individual
enjoys the life cover
throughout his or her life. Under this life insurance policy, the
policyholder pays regular
premiums until his death, upon which the corpus is paid to the family.
The policy does not
expire till the time any unfortunate event occurs with the individual.
Increasingly, whole life
policies are being combined with other insurance products to address a
variety of needs such
as retirement planning, etc. Premiums paid under the whole life
policies are tax exempt.
3. Endowment Policy
Endowment policies are among the popular life insurance policies. Policy holders
benefit in two ways from a pure endowment insurance policy. In case of
death during the
tenure, the beneficiary gets the sum assured. If the individual
survives the policy tenure, he
gets back the premiums paid with other investment returns and benefits
like bonuses. In
addition to the basic policy, insurers offer various benefits such as
double endowment and
marriage/ education endowment plans. The concept of providing the
customers with better
returns has been gaining importance in recent times. Hence, insurance
companies have been
coming out with new and better ULIP versions of endowment policies.
Under such life
insurance policies the customers are also provided with an option of
investing their premiums
into the markets, depending on their risk appetite, using various fund
options provided by the
insurer, these life insurance policies help the customer profit from
rising markets. The
premiums paid and the returns accumulated through pure endowment
policies and their ULIP
variants are tax exempt.
4. Money Back Policy
This life insurance policy is favoured by many people because it gives periodic
payments during the term of policy. In other words, a portion of the
sum assured is paid out at
regular intervals. If the policy holder survives the term, he gets the
balance sum assured. In
case of death during the policy term, the beneficiary gets the full
sum assured. New ULIP
versions of money back policies are also being offered by various life
insurers. The premiums
paid and the returns accumulated though a money back policy or its
ULIP variants are tax
exempt.
School of Distance Education
Service Management Page 45
5. ULIPs
ULIPs are market-linked life insurance products that provide a
combination of life
cover and wealth creation options. A part of the amount that people
invest in a ULIP goes
toward providing life cover, while the rest is invested in the equity
and debt instruments for
maximising returns. ULIPs provide the flexibility of choosing from a
variety of fund options
depending on the customers risk appetite. One can opt from aggressive
funds (invested
largely in the equity market with the objective of high capital
appreciation) to conservative
funds (invested in debt markets, cash, bank deposits and other
instruments, with the aim of
preserving capital while providing steady returns).ULIPs can be useful
for achieving various
long-term financial goals such as planning for retirement, child’s
education, marriage etc.
6. Annuities and Pension
In these types of life insurance policies, the insurer agrees to pay
the insured a
stipulated sum of money periodically. The purpose of an annuity is to
protect against
financial risks as well as provide money in the form of pension at
regular intervals.
Marketing of Insurance Services
The need for marketing insurance services arises due to following factors.
– The insurance products have a distinct feature where benefits of the
product comes at the
later date and at times after a considerable time.
– The demand unlike consumers products is not inbuilt.
– Among the financial services, the insurance sector gets the least
priority as other
investments avenues provide immediate yields.
– In case of life insurance the case is further complicated as in
India people have belief,
traditional culture and religious background and tendency to leave
everything to fate. This
happens especially in rural areas.
– The rural market is still untapped. The insurance sector is yet to
exploit these segments
which have vast potentialities. The concept of proper financial
planning, taxation and
investment is still lacking among the middle class strata.
– Over the period of time the L.I.C. have come out with multipurpose
better yielding
attractive terms insurance’s policies which certainly needs effective
marketing to wipe of the
synergic ideas in the minds of people that life insurance policies are
mainly for death hazards.
– The General insurance have wide scope for marketing as small and
medium business
A travel agency may offer every possible service or specializes
in a certain type of business. In that sense travel agencies can be
divided into different types
according to the services they offer. Here are some examples:
Full-service travel agency
Offering all services and products related to international and
domestic travel.
is equipped to handle all types of travel such as holiday and
business travel on
individual or group based.
smaller agencies situated in residential areas tend to concentrate
on leisure travel.
larger agencies serving commercial areas will concentrate on business travel.
Corporate/ Business travel agency
specialize solely in servicing the travel needs of the business or
corporate clients, in
that sense they deal with work-related and incentive travel
In-house travel agency
differs from the corporate travel agency in the sense that they work
with only one
corporate account doing mainly business travel but also handling the
leisure side for
corporate clients
Types of hotels
1. One star hotels
These hotels belong to the no-frills variety that offers basic bedding
and bathroom facilities.
The furniture, décor, etc. may not be of high quality, but is mostly
comfortable.
Arrangements for meals may or may not be included.
2. Two star hotels
. The extra star here is for a proper reception desk and some amount
of staff presence. Two
star hotels are suitable for people with limited budgets but who are
travelling with their
families and need a reasonably safe place to stay
3. Three star hotels
Three star hotels are mostly good for business travellers who are
travelling for a short period
on business. They are also a good option for female travellers who are
travelling alone and
don’t want the tension of staying at a place where their security
could be at risk or their
belongings unsafe. Three-star hotels are generally part of a larger
chain and have footprints in
more than one location.
4. Four star hotels
The premium variety of hotels starts from here. There will be larger
rooms, better décor,
more amenities, and better services like availability of porters,
24-hour room service, laundry,
and multi-cuisine restaurants. Four star hotels are mostly used by
corporate travellers where
the company pays for the stay.
5. Five star hotels
Five star hotels are top level hotels. Breakfast served in bed, shoes
polished, clothes washed
and facilities for getting almost. Other facilities include huge
lobbies, round-the-clock room
service, swimming pools, gyms, sauna, spas, badminton/tennis courts,
beauty salons – etc.
The staff in these hotels mostly comprises hotel management graduates
from the best schools,
well-trained in customer service, crisis management, etc. The
clientele that five star hotels
cater to include big names from fields of entertainment, business, and sports.
6. Five star deluxe hotels
This type of hotels caters to the movers and shakers of the world. A
private balcony, fully
stocked mini-bar, personal masseur, king-sized beds – these are just
some of the rare luxuries
you can treat yourself to at a five star deluxe hotel. The most
well-known brands belonging to
this category include the Taj, Hilton, Leela Palace, Grand Hyatt.
Following is the list of some typical financial products available in
the market.
- Savings and Recurring Account
- Current Account
- Fixed Deposits
- Retail Loan Products
- Commercial Loans
- Leasing and Hire Purchase
- Credit Cards
- Insurance
- Mutual Funds
Non-Life Insurance Policies
1. Home and contents insurance
Home and contents insurance is important cover and should be considered by all
consumers. It seeks to cover the insured for damage to their home as
well as the contents of
the home. Consumers should ensure they have appropriate level of cover
for their home to
School of Distance Education
Service Management Page 42
ensure they are not underinsured. Insurance cover should always match
the replacement cost
of the property. Underinsurance could result in consumers paying the
gap between their
insurance pay-out and the building costs. Contents insurance should be
considered by all
consumers, including tenants and renters, who often neglect to insure
their household items.
It has its limits and consumers should contact their insurer if they
have any special items they
would like insured separately, such as expensive jewellery or works of
art. The Product
Disclosure Statement (PDS) will outline the limits and exclusions of the policy.
2. Motor Vehicle Insurance
There are four types of motor vehicle insurance: Compulsory Third Party (CTP)
Insurance; Comprehensive Insurance; Fire and Theft Only; and Third
Party Property Only.
Consumers should shop around and ensure they purchase cover
appropriate to their situation.
a.CTP
CTP is mandatory in all States and Territories and provides
compensation for bodily injuries
caused by vehicles. It does not provide cover for any damage to the
vehicle and therefore
other forms of motor vehicle insurance should also be purchased.
b. Comprehensive Insurance
Comprehensive Insurance can cover damage to vehicles, theft of
vehicles, collision,
malicious damage and weather damage. Depending on the policy, it can
cover damage caused
to other vehicles.
c.Fire and Theft Only
Fire and Theft only is a limited form of insurance that only covers
for fire damage to, and
theft of, vehicles. It does not cover collision damage to vehicles.
d. Third Party insurance
Third Party Property insurance provides cover for vehicles damaged by
the policyholder's
vehicle. It does not provide cover for the policyholder's own vehicle.
This product is
generally only taken out by consumers with a low value vehicle,
protecting themselves
against damage to other motorists.
3. Business insurance
Business insurance is important for many business owners to
appropriately mitigate
risk and protect their livelihoods. Insurance companies provide a
variety of policies that cover
small businesses, trades people, professionals, hospitality operators
and more. It is taken out
by many businesses to ensure they can cover a variety of unforeseen
circumstances, such as
fire, theft, accidental damage, equipment breakdown, property damage,
third party cover and
more.
4. Work Cover Insurance
Workers Compensation is mandatory insurance provided by employers to cover
injuries caused to their employees while working. It provides
protection for both employees
School of Distance Education
Service Management Page 43
and employers. Each State and Territory manages Workers Compensation
differently and has
its own legislation and governing body. Businesses can self-insure.
However, they are still
accountable to the same State or Territory based laws. In the event of
injury, employees are
required to contact their employer within a given time frame. Claims
can be paid out in the
form of weekly benefits, hospital expenses, lump sum payments, and more.
5. Travel insurance
Travel insurance is important for any consumers travelling for
recreation or business.
It covers instances such as: trip cancellation/interruption, medical
expenses, baggage
damage/theft, and others. Products vary between companies and every
policy contains its
own exclusions. Consumers should check their Product Disclosure
Statement (PDS) before
purchasing a particular product. Products are based on the age and
health of the insured, the
travel destination as well as the length of stay. To receive
appropriate cover, consumers must
seek out the right cover and honestly appraise their situation.
Various types of life insurance policies
These are the basic types of life insurance policies. All other life
insurance policies are built
around these basic insurance policies by combination of various other features.
1. Term Insurance Policy
A term insurance policy is a pure risk cover policy that protects the
person insured for
a specific period of time. In such type of a life insurance policy, a
fixed sum of money called
the sum assured is paid to the beneficiaries (family) if the
policyholder expires within the
School of Distance Education
Service Management Page 44
policy term. For instance, if a person buys aRs 2 lakh policies for 15
years, his family is
entitled to the sum of Rs 2 lakh if he dies within that 15-year
period. If the policy holder
survives the 15-year period, the premiums paid are not returned back.
The advantage, apart
from the financial security for an individual’s family is that the
premiums paid are exempt
from tax. These insurance policies are designed to provide 100 per
cent risk cover and hence
they do not have any additional charges other than the basic ones.
This makes premiums paid
under such life insurance policies the lowest in the life insurance category.
2.Whole Life Policy
A whole life policy covers a policyholder against death, throughout
his life term. The
advantage that an individual gets when he / she opts for a whole life
policy is that the validity
of this life insurance policy is not defined and hence the individual
enjoys the life cover
throughout his or her life. Under this life insurance policy, the
policyholder pays regular
premiums until his death, upon which the corpus is paid to the family.
The policy does not
expire till the time any unfortunate event occurs with the individual.
Increasingly, whole life
policies are being combined with other insurance products to address a
variety of needs such
as retirement planning, etc. Premiums paid under the whole life
policies are tax exempt.
3. Endowment Policy
Endowment policies are among the popular life insurance policies. Policy holders
benefit in two ways from a pure endowment insurance policy. In case of
death during the
tenure, the beneficiary gets the sum assured. If the individual
survives the policy tenure, he
gets back the premiums paid with other investment returns and benefits
like bonuses. In
addition to the basic policy, insurers offer various benefits such as
double endowment and
marriage/ education endowment plans. The concept of providing the
customers with better
returns has been gaining importance in recent times. Hence, insurance
companies have been
coming out with new and better ULIP versions of endowment policies.
Under such life
insurance policies the customers are also provided with an option of
investing their premiums
into the markets, depending on their risk appetite, using various fund
options provided by the
insurer, these life insurance policies help the customer profit from
rising markets. The
premiums paid and the returns accumulated through pure endowment
policies and their ULIP
variants are tax exempt.
4. Money Back Policy
This life insurance policy is favoured by many people because it gives periodic
payments during the term of policy. In other words, a portion of the
sum assured is paid out at
regular intervals. If the policy holder survives the term, he gets the
balance sum assured. In
case of death during the policy term, the beneficiary gets the full
sum assured. New ULIP
versions of money back policies are also being offered by various life
insurers. The premiums
paid and the returns accumulated though a money back policy or its
ULIP variants are tax
exempt.
School of Distance Education
Service Management Page 45
5. ULIPs
ULIPs are market-linked life insurance products that provide a
combination of life
cover and wealth creation options. A part of the amount that people
invest in a ULIP goes
toward providing life cover, while the rest is invested in the equity
and debt instruments for
maximising returns. ULIPs provide the flexibility of choosing from a
variety of fund options
depending on the customers risk appetite. One can opt from aggressive
funds (invested
largely in the equity market with the objective of high capital
appreciation) to conservative
funds (invested in debt markets, cash, bank deposits and other
instruments, with the aim of
preserving capital while providing steady returns).ULIPs can be useful
for achieving various
long-term financial goals such as planning for retirement, child’s
education, marriage etc.
6. Annuities and Pension
In these types of life insurance policies, the insurer agrees to pay
the insured a
stipulated sum of money periodically. The purpose of an annuity is to
protect against
financial risks as well as provide money in the form of pension at
regular intervals.
Marketing of Insurance Services
The need for marketing insurance services arises due to following factors.
– The insurance products have a distinct feature where benefits of the
product comes at the
later date and at times after a considerable time.
– The demand unlike consumers products is not inbuilt.
– Among the financial services, the insurance sector gets the least
priority as other
investments avenues provide immediate yields.
– In case of life insurance the case is further complicated as in
India people have belief,
traditional culture and religious background and tendency to leave
everything to fate. This
happens especially in rural areas.
– The rural market is still untapped. The insurance sector is yet to
exploit these segments
which have vast potentialities. The concept of proper financial
planning, taxation and
investment is still lacking among the middle class strata.
– Over the period of time the L.I.C. have come out with multipurpose
better yielding
attractive terms insurance’s policies which certainly needs effective
marketing to wipe of the
synergic ideas in the minds of people that life insurance policies are
mainly for death hazards.
– The General insurance have wide scope for marketing as small and
medium business
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