Abstract

The caselet details the well-designed marketing communications initiatives developed by ICICI Prudential Life Insurance (ICICI Pru) that helped it gain leadership position in the Indian life insurance market. During its initial years ICICI Pru focused on creating a strong brand identity and awareness and designed the marketing communication strategy accordingly. However, in 2002 it completely changed the communications strategy and began to promote specific products from its product portfolio based on the consumer research study. One of the promotional objectives designed was to create a feel good factor around retirement and change customers’ perception of retirement as a mark of old age and loss of financial independence

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Role of marketing communications in financial services sector
• Corporate advertising and its role in financial services
• Product specific advertising and its significance
• and Importance of post advertising tests.

Keywords

ICICI Prudential Life Insurance (ICICI Pru), Life Insurance Corporation of India (LIC), Tax Saving Tool ORG Marg, Brand Awareness, Brand Identity, Social Security Net, Pension Schemes, Post-Retirement Life ‘Chintamani’ and Lowe