A marketing strategy combines product development, promotion,
distribution, pricing, relationship management and other elements;
identifies the firm's marketing goals, and explains how they will
be achieved, ideally within a stated timeframe. The concept of
promotional strategies becomes more relevant when it comes to
service sector like life insurance, where a customer requires
recurring services with utmost satisfaction. Promotional strategies
are based on the basis of promotional mix elements. Strategies are
said to be competitive moves of an organization where as
promotional practices comprise of real or ground applications of
the framed strategies. The reforms in the insurance sector leading
finally to the opening of the insurance sector for private
participation have brought in its wake major changes not only in
the design of the products available in the market but also the
manner in which they are marketed. This research paper is an
attempt to focus on the study of promotional strategies and
practices in selected private life insurance companies of India and
also to find out the effectiveness of promotional strategies and
practices on the overall performance of the orgz.
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