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Saturday, September 25, 2010

Internship Report on Naveena Textile pk

Internship Report on Naveena Textile pk
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Friday, September 10, 2010

INTERNSHIP REPORT OF AL FAYSAL BANK PK

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INTERNSHIP REPORT ON MCB
Internship Report on Standard Chartered Bank
Final Marketing Project on Unilever Pakistan
Internship report on Nishat Textiles
Internship report on Askari Bank
Internship report on Bank Alfalah
Everything Related to the Coca-Cola Company


Now we have published INTERNSHIP REPORT OF  AL FAYSAL BANK PK





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Thursday, September 02, 2010

Market Research proposal of mba students

Table Of Contents:

1 Commercial Bank of Africa’s (CBA) Background Information: 4
1.1 History: 4
1.2 Current Situation: 5
1.2.1 Banks In Kenya 5
1.2.2 Commercial Bank of Africa (CBA) Latest Development: 5
1.2.3 Services Offered By Commercial Bank of Africa (CBA): 6
1.2.3.1 Corporate and Institutional Banking: 6
1.2.3.2 Personal Banking: (Current and Savings Account): 6
1.2.3.3 General Services: 7
1.2.4 Situation that Lead To Marketing Research: 7
2 Literature Research: 8
3 Problem Definition: 11
3.1 Decision Problem: 11
3.2 Research Problem: 11
3.3 Research Objectives: 11
4 Research Design Methodology (Primary Data): 12
4.1 Exploratory Research (Qualitative Research): 12
4.1.1 Interviews: 13
4.2 Descriptive Research (Quantitative Research): 14
4.2.1 Survey Method That Can Be Used: 15
4.2.1.1 Telephone: 15
4.2.1.2 Mail: 16
4.2.1.3 Internet Survey: 16
4.2.1.4 Personal Method: 17
4.3 Issues Of Discussion: 18
5 Time Frame: 19

6 Study Limitations: 22
6.1 Random Sampling Errors: 22
6.2 Administrative Errors: 23
6.2.1 Data Processing Error: 23
6.2.2 Interviewer Error: 23
6.2.3 Interviewer Cheating: 23
7 Budget 24
8 References: 25
8.1 Books: 25
8.2 Brochures: 25
8.3 Journals (On-line): 25
8.4 Newspapers: 25
8.5 Personal Communication: 25
8.6 Websites: 26
9 Appendix: 27
9.1 Interview Questions: 27
9.2 Questionnaire: 28



Project Title:
To investigate ways of increasing the market share for Commercial Bank of Africa (CBA)
1 Commercial Bank of Africa’s (CBA) Background Information:
1.1 History:
It was in 1962, that the Commercial Bank of Africa (CBA) Limited was started in Dar-es-Salaam, in Tanzania. Branches were quickly set up in Kenya (in Mombasa and Nairobi cities) and Uganda (in Kampala city). In 1967,Tanzania nationalised all the banks. This made CBA to incorporated itself in Kenya (CBA, 2005, http://www.cba.co.ke).

In 1971, Uganda, sold off its branch in Kampala. This eventually made CBA to begin its business as the main subsidiary of the Societe Financiere pour les pays D’Outre Mer (SFOM), which was a consortium bank that was based in Sweden. SFOM had interests throughout Africa with financial institutions (CBA, 2005, http://www.cba.co.ke).

The SFOM consortium members included the Banque National de Paris, Bank Bruxelles Lambert, Commerz Bank, and The Bank of America. Eventually, Bank of America obtained shares from all the SFOM members. This made CBA to be a subsidiary of the Bank of America (CBA, 2005, http://www.cba.co.ke).

Around 1980 to about 1984, The Bank of America established new disciplines and global systems in CBA. Eventually in late 1984 the Bank of America sold the bulk of its shares to the local investors, but was still allowed to manage CBA, due to an agreement and a small amount of interest it still had for CBA (CBA, 2005, http://www.cba.co.ke).

The Bank of America finally sold all it’s shares so as to make CBA to be owned completely by Kenyan investors (CBA, 2005, http://www.cba.co.ke).

1.2 Current Situation:
1.2.1 Banks In Kenya
In 2003, Kenya officially had fifty-one banks. (Market Intelligence, 2003 from http://www.mi.co.ke/business_and_finance/banking/banking_survey.asp).

During the period of 2001 and 2003, six banks were either merged or went under liquidation. In 2001 Standard Chartered Bank was rated one of the best banks ever followed by Citibank and Commercial Bank of Africa respectively. In 2002, Citibank was rated the best bank followed by Standard Chartered. Commercial Bank of Africa retained its third position (Marketing Intelligence 2003, http://www.mi.co.ke/banking%202003/Banking%20Survey%202003.data/Library/survey%20tables/OVERAL%20RANKING.htm).
1.2.2 Commercial Bank of Africa (CBA) Latest Development:

On Monday 14th March 2005, the CBA shareholders bought the First American Bank of Kenya. This transaction is expected to conclude on 31st May 2005. CBA saw this as an opportunity to develop its brand, franchise and increase its asset base. CBA’s also aims to contribute and improve the development of the country’s economy (Mugambi, 2005).

CBA has eleven branches in Nairobi and three branches in Mombasa, which brings to a total of fourteen branches countrywide. When CBA completes its deal to buy First American, it will acquire all the four branches, one branch in Mombasa and three in Nairobi (Mugambi, 2005).


According to the Nation Radio Business News report, aired on Monday 14th March, 2005 at 6:30pm, CBA’s main objective of acquiring the First American Bank is to increase its market share from its current 3% to about 5.5%.

1.2.3 Services Offered By Commercial Bank of Africa (CBA):
CBA offer a wide variety of services. Some of these services include: -

1.2.3.1 Corporate and Institutional Banking:
This service is offered mainly for business organizations. Here a relationship manager is allocated to each of the customers (who in this case are the businesses institutions). Here the organization will have access to financing for their exports and imports, equipment and expansion financing, capital financing (which is short term), and term financing that will eventually help to facilitate the development for the business (CBA, 2005, http://www.cba.co.ke/cba/index.php?cid=2&sm=&cls=2&fla=$fla).

Corporate Banking customers will also get a current account, and will be offered transaction services (bulk payment processing and local and overseas remittances), wage processing, electronic banking, and paynet services (CBA, 2005, http://www.cba.co.ke/cba/index.php?cid=2&sm=&cls=2&fla=$fla).


1.2.3.2 Personal Banking: (Current and Savings Account):
This account is for joint account holders, individuals, and minors (if the account is opened for them in trust by either their parent or guardian) (Commercial Bank of Africa, n.d.).

Here they have access to their account in any CBA branches, get a free Visa Photo electron Card, Access to PC and Internet banking, Access to sms balance inquiry, hospital cash plan cover and 1million Visa ATMs worldwide (Commercial Bank of Africa, n.d.).


1.2.3.3 General Services:
An outline of the other services that CBA offer include Premium financing, Motor Loans, Insurance (only for some products), personal loans, home loans, Internet banking, Mobile Banking and access to ATM’s countrywide. CBA usually targets customers that have or earn Ksh.50, 000 and more (Anne Gicharu, Personal Communication, March 19, 2005).

1.2.4 Situation that Lead To Marketing Research:
Currently, CBA does not have a marketing department. This has lead to a decline of them producing less national-wide advertisement, through the mass (and print) media. People who have just ventured into the business world thus are not fully aware about the bank and the services it offers. These people therefore go to other banks that are frequently advertised and known like The Standard Chartered, Barclays and The National Bank of Kenya (Anne Gicharu, Personal Communication, March 19, 2005).

CBA usually promotes its services through personal selling to the corporate and institution businesses. This is because through personal selling, the bank is able to customise the promotional message, to fit the potential-customer’s needs, so as to convince them to join the bank, and at the same time, the potential customer will be able to inquire about the services offered (Anne Gicharu, Personal Communication, March 19, 2005).

CBA also advertise through sponsoring events like the Dettol Heart Run, so as to show the community that they care about people around them. However all this has not been so effective as only a few people have joined the bank (Anne Gicharu, Personal Communication, March 19, 2005).


2 Literature Research:
According to Levesque and McDougall, (1996), (cited by Bloemer, Ruyter and Peeters 1998), the financial (banking) sector has for the past ten years gone under drastic changes. This characterised by strong competition, increased deregulation, and lack of growth in the primary demand of the (financial) banking industry. Customer relationship is also starting to decline.

Meidan, (1996), (cited by Bloemer, Ruyter and Peeters 1998), states that this financial competition has made financial Institutions to come up with come up with different strategies like introducing new innovative services and products to retain their customers. However when a bank comes up with a new innovation, the competing banks and financial institutions are most likely to copy. Bloemer, Ruyter and Peeters (1998).

This can also be seen in the Kenyan financial Market, where nearly all Kenyan banks and financial institutions have come up with innovative services like Internet banking and mobile banking which were not available until recently. Their aim is to attract new customers, and increase market share so as to avoid making losses to the more than fifty-one financial institutions (including banks) available currently in Kenya.
Commercial Bank of Africa (CBA) aims to increase its market share. This can usually prove to be very difficult due to the fact that CBA has many competitors that have successfully managed to promote (advertise) their products to the public, thus gaining public trust.

So as to increase their market share, CBA could extensively promote the services they offer so as to create awareness. This promotion could eventually, bring in more people into the bank.


According to Worcester (2005), corporate advertising should be based on: awareness, persuasion, Involvement, and action. If all this is done properly, awareness could lead to trust, Trust is achieved when the potential customer sees the advertisement and is captivated by it. Interaction with the bank (organization) can make the potential customer to be a member of the bank (transaction). Later on if all goes well, and the bank provides good services, the customer is will be satisfied, and they will end up being loyal towards the bank.

This can be illustrated in the chart below: -

Worcester (2005, p 11) http://0-iris.emeraldinsight.com.library.ecu.edu.au/vl=9260312/cl=41/nw=1/fm=html/rpsv/cw/mcb/02652323/v15n5/s1/p146) online version

Due to emerging of many banks and increased banking demand, banks have to improve their images as well as promoting their services to increase their share in the market. Ways that are used by various banks to improve their image as outlined by Worcester (volume 15, number 5, 1997, pp146-152), are: -
· “Noting the institutional necessary publics.
· Finding out how stakeholders rate the bank.
· Identifying misunderstood facts and information.
· Ensuring that corporate finances are properly managed.
· Improved Communication channels.
· Overtime and its effect to the image of the bank”.

With the emerging of many commercial banks in the country commercial banks are left with no alternatives other than to change their operational strategy. Each bank need to create a well-equipped marketing department, which will enable it to met the competitive edge. To achieve this they need to improve their reputation, which can be achieved through the following means: -
· Satisfying their customer through production of high-tech products/services beneficial to both personal and corporate customers.
· Introducing the most recent technology like Internet banking where customers can access their services from home or offices.
· Recruiting, training and maintaining the most qualified personnel who are trustworthy, respected and with ethical standards so as to maintain and offer best services to the customers”. (International journal of banking and marketing, vol14 number 6,1996, pp12-22.)


3 Problem Definition:
Here the problem can be seen either as an actual problem or as an opportunity to the organization. In this case CBA’s decision problem is viewed as an opportunity.
3.1 Decision Problem:
The management’s main objective is to look on how to increase the market share.
3.2 Research Problem:
The research problem refers to the main areas that will be mainly examined in the research. This research will mainly focus on the effectiveness of products and services currently offered by the bank and will also look at the effectiveness of current advertising undertaken by the bank.
3.3 Research Objectives:
The research objectives will be: -
¨ To determine the awareness people have of C.B.A. through its current advertising methods.
¨ To determine how consumers react and feel towards the various promotion methods undertaken by other banks.
¨ To determine what motivates consumers to join C.B.A. or other banks.
¨ To determine the perceived image of C.B.A. bank.
¨ To determine the general satisfaction of C.B.A. consumers.

4 Research Design Methodology (Primary Data):
4.1 Exploratory Research (Qualitative Research):
The primary data for the (qualitative) research will be collected mainly through communication with CBA’s managers, employees and banking customers. Communication refers to when a person sends a message to another person, and then gets feedback from that person about the message they sent (Zikmund, 2003). Communication will help the researchers in understanding what makes banking customers behave the way they do. Observation, [which is “the systematic process of recording the behavioural patterns of people, objects, and occurrences as they are witnessed” (Zikmund, 2003, p 723)], can lead to the wrong conclusions on why the customer is behaving in a certain way.

Communication will help the researcher in knowing the actual problems the bank is going through, how the bank is trying to cope and solve these problems, and in understanding what makes a customer go to a certain bank.

Communicating with the customers or the bank employees in the research can be done through depth interviews or focus group interview.

Depth interviews are usually extensive and unstructured. Here the interviewer (researcher) looks for in-depth answers (Zikmund, 2003).
Focus Group questions are also unstructured. These interviews are conducted with a group of people. This group contains only a few people (Zikmund, 2003).

4.1.1 Interviews:
Focus groups enable researchers to get more candid responses from the group of people being interviewed. This because respondents realise that the issues being raised in the discussion are not being identified with them, and this gives them a feeling of security. Questions are answered more quickly, and contain more information than depth interviews (Zikmund, 2003).

However in this research, Depth interviews were seen to be more adequate for the research than focus groups interview. This was because it was found that it would be difficult to get banking customers together as a group, since they are always are in a hurry to go back to their work, or to withdraw or deposit money. The researcher will also be able to modify the interview questions, so as to get more detailed information from the bank customers

The participants that will be involved in the interview will be mainly people who keep their money in the Banks. This is because they will help the interviewer in knowing what they like and dislike about the services offered by the current bank they are in. The interviewer can use this information to know what CBA bank can do to increase its market share by bringing in more customers.

The interview will also look at people who are aged between sixteen and twenty years. People in this age gap are sometimes started for bank accounts by their parents or guardians. This will later influence whether they will stick to the bank they currently are in or whether they would like to move to a better bank in the future.

The main bulk of the interviews will however focus on working businessmen and businesswomen as they are the main customers for banks, they will be around 25 years onwards. Older people around 75 years will also be interviewed, since most are known to keep their money in the bank during retirement.

4.2 Descriptive Research (Quantitative Research):
The questionnaire will contain three types of scale of measurement. First there will be nominal. Here an object is assigned for a number, and the number is not used for any mathematical purposes. An example can be a question giving a respondent with the option of: -
1.Yes and
2.No.
Ordinal scale of measurement will be used to assist the respondent to rank the objects according to how much they like or appreciate them. E.g. a question can ask the respondent to rate lending services offered by the bank. If the respondent grades it as number one, this shows that they do not like the lending service. If they grade it number ten, this shows that they like the lending service.

Lastly Interval scale of measurement will be used, to give a set of interval of numbers so as to eliminate too many options for the respondent. E.g. a question that will be asking the respondent for their age, the ages will be put into categories, of nine (10-19 years, 20- 29years) instead of listing all the ages one by one.

Ratio is also a scale of measurement, but it will not be used in this research. This is because there will no information that will need absolute statements that need exact measurement. Ratio has a true zero and is mostly used to show exact figures, e.g. for sales and weight.

The questionnaire will be given to 50 people. These people will be mainly businessmen and businesswomen (between twenty and seventy years). Students who own bank accounts and are above fifteen years will be included in the research. Retired people (aged around sixty and eighty years) who still have bank accounts will also fill in the questionnaires.


The questionnaire will have a total of twenty-three questions. All the questions will take approximately three to four minutes to answer. Branching questions will also be available in the questionnaire, so as to guide respondent to other questions in the questionnaire.
The questionnaires will be administered at the Central Location Intercept (in Westlands), where the Commercial Bank of Africa is situated.

The sampling technique that will be mainly used will be Judgement. The questionnaires will be distributed at the various bank branches in Westlands, Village-Market, and Town, to see if all the people have the same characteristics, in banking choices.

The main aim of the questionnaire will be to determine the quality of services offered in CBA compared to other banks, and the effectiveness of CBA’s advertisements.


4.2.1 Survey Method That Can Be Used:
4.2.1.1 Telephone:
Telephones have the main advantage of having a wide distribution. This is because many people usually own telephones (e.g. in Kenya, many people own mobile phones). Telephones also provide speed in the collection of data. This is because many telephone calls can be conducted over a short period of time (Zikmund, 2003).

However, using the telephone to conduct both the interview and questionnaire was seen as inappropriate because the (telephone) infrastructure has not yet fully developed in Kenya. Not many people have landlines, since they have opted to have mobile (cell) phones instead. Calling a mobile phone is very expensive. People who have mobile phones may be un-able to answer the questions, especially if they are doing something important or are in an in-secure place.


Customers who have landline telephones especially in offices might be too busy to answer the interviews or questionnaire, and might ask a representative (e.g. a secretary) to answer for them the questions. This could lead to inaccurate or incorrect responses, as they might not have a clear idea on the topic.
4.2.1.2 Mail:
A mail survey is when a researcher sends a questionnaire to the customers through the mail. The questionnaire is self-administered, since the customers fill it in by themselves and then sends it back to the researcher (Zikmund, 2003).

Mail questionnaire have the main advantage of being flexible. This is because they can reach customers who live in isolated areas, where researchers might find it difficult to physically reach them, or cannot easily be reached through the telephone. Mail questionnaires are answered at the respondents’ convenience, which gives them time to reflect on their replies before writing them down. Respondents will also feel more comfortable since they will be anonymous to the researcher, which will make them feel more free to write what is on their mind without fearing being judged by the researcher (Zikmund, 2003).

However, the mail system in Kenya is very slow. A letter might reach the recipient in a month’s time or more. This means that the researcher will waste a lot of time waiting for the reply. Most people also ignore or simply refuse to answer research questions asked through the mail, which means that the researcher will get very few respondents.

4.2.1.3 Internet Survey:
Internet Survey is when a researcher posts a questionnaire on a website for people (respondents) to answer. It is also self-administered. It allows researcher to reach many people all at once.
However, most customers in Kenya hardly take time to answer Internet surveys as they consider them a waste of time, since they are busy checking their e-mail or doing research.

4.2.1.4 Personal Method:
In-Home
Most people in Kenya like their privacy, and will not want to be interviewed or given questionnaires in their homes by strangers. However this can work only if the researcher is known in the neighbourhood. This can cause the researcher to get very little information on the topic at hand, due to few respondents.
An in-home interview is seen as very effective because both the respondent and the interviewer will feel relaxed and at ease when answering the questions in a homely environment.

Central Location Intercept
This was seen as the most appropriate method to conduct the survey. This is where the researcher will go and conduct interviews to the customers located within and around the premises of CBA. Here the researcher would get an immediate response (unlike mail), from people who go to CBA or the neighbouring banks’ (Barclays, Standard Chartered, or KCB) customers.

This method was also seen as cheaper, since there would be no major charges to pay for transport, since all the banks (Barclays, Standard Chartered, KCB and CBA) are located very close to the school, AUSI).

However, this method could have some limitations. This is because customers located at the bank will be busy either going back to their work or withdrawing and depositing money and therefore might not get time to answer the questionnaire or the interview. The customers might also refuse to answer the questions because they feel insecure, due to the fact that they have just dealt with money, and might feel suspicious.
4.3 Issues Of Discussion:
The questions that will be discussed both in the interview and questionnaire will cover the research objectives. These interview questions and questionnaires are found at the appendix of this proposal.

5 Time Frame:
Week Date Activity
1 9th – 15th March 2005. 1. Look for suitable organization to conduct research.
2. Evaluate possible organizations.

2. 16th – 22nd March 2005. 1.Post a letter requesting if organization will allow a research to be conducted for them.
2. Review the organizations problem definition (decision problem, research problem and objectives).

3 23rd – 29th March 2005. 1. Research about the organization (CBA’s) background information.
2. Research on secondary information about banks from journals.
3.Come up with a budget.
4.Come up with methods to conduct the research.
5.Come up with interview questions.

4. 30th March-5th April 2005. 1.Conduct interviews.
2.Type out the responses for the Interviews.
3. Speak to CBA employers and Employees.


5. 6th – 12th April 2005. 1. Start typing proposal.
2.Brainstorm possible questions for questionnaire.
3.Decide on the sample size of the people to be given questionnaires.
4. Decide on characteristics required by the people answering the questionnaire.
5. Decide on technique to be used when answering the questionnaire.

6. 13th – 19th April 2005. 1. Refine draft questionnaire.
2. Decide on the best method of distributing the questionnaire.
3. Test the questionnaire.
4. Finnish typing proposal.

7 20th – 26th April 2005. 1. Give questionnaire to be answered by people.
2. Start coding SPSS.
3. Start looking at requirements for the report.

8 27th April – 3rd May 2005. 1. Continue distributing the questionnaire to be answered.
2.Start writing the report.
3.Start coding received questionnaires on SPSS.

9 4th – 10th May 2005. 1. Must have received all questionnaires.
2. Continue on updating the report.
3.Continue to put data on SPSS

10 11th – 17th May 2005. 1. Finnish putting the data on SPSS.
2. Start analysing the data on SPSS.
3. Update the report.

11. 18th – 24th May 2005. 1.Start typing presentation slides.
2. Complete typing the report.

12 25th – 31st May 2005. 1. Finnish typing the presentation slides.
2. Practice for the presentation.
3.Finally present the work.
4.Check the report for any corrections.
5.Hand in the report.


6 Study Limitations:
The research will however might go through some limitations that may affect the accuracy of the results.
6.1 Random Sampling Errors:
These errors occur due to variations in the sample data (Zikmund, 2003).

This includes respondent errors. There are two types of respondent errors. They are, Non-Response Error and Response Error. Non- Response errors include non-respondents error, where people could refuse to cooperate. Here people could refuse to answer some questions like information relating to the amount of income they receive per month or their age (Zikmund, 2003).

Customers could also answer questions with a certain incline that does not represent the truth completely. This is called a response bias. Here the answers are misinterpreted or falsified. A good example is when people agree with all the questions on the paper, e.g. if asked if they are happy with the current services offered by the bank, they will automatically choose the ‘Yes’ answer, without thinking much of the question. This is usually called acquiescence bias (Zikmund, 2003).

The researcher (interviewer) could sometimes influence the way the respondent answers the question. The presence of the interviewer could make the respondent modify their answer so that the interviewer does not see them as un-usual. This is called Interviewer bias (Zikmund, 2003).


Social desirability bias is also a form of response bias. This is when people try to create a good impression in the interviewers presence. A good example can be when respondents are answering a question about the amount of income they earn per month. The respondents may give an answer of a higher income than what they truly receive, especially if they are planning on going to a better paying job in a few months or years to come (Zikmund, 2003).

6.2 Administrative Errors:
This refers to errors caused by “ the improper administration or execution of the research task” (Zikmund, 2003, p 195), by the researchers.

6.2.1 Data Processing Error:
This is when the researcher codes the data received from the interview or questioner wrongly on the computer. E.g., a researcher can code the age of a respondent wrongly on the computer (Zikmund, 2003), and this might affect the end result of the survey conducted.
6.2.2 Interviewer Error:
This can occur when the interviewer incorrectly records the responses from the survey (Zikmund, 2003).

6.2.3 Interviewer Cheating:
This is when the interviewer fills in questions that were left out by the respondent (Zikmund, 2003).








7 Budget
The purpose of the Budget is to help in determining the approximate cost that will be needed to conduct the whole research, write the proposal and report for Commercial Bank of Africa.

Item Cost (Ksh)
Transport (to CBA and Customers) 1,000
Binding 200
Printing 2,000
Researching Online (secondary Data) 2,000
Photocopying 2,800
Total 8,000






8 References:
8.1 Books:
¨ Hornby, A. (1998). Oxford Advanced Learner’s Dictionary, Special Price Edition, China, Oxford University Press.
¨ Zikmund, W. (2003). Exploring Marketing Research, Ohio, Thomson South-Western.

8.2 Brochures:
¨ Commercial Bank of Africa, (no date). Personal Current and Saving Accounts [Brochure]. Nairobi, Kenya: CBA.

8.3 Journals (On-line):
¨ Bloemer, J., Ruyter, K., Peeters, P. (1998) Investigating Drivers of Bank Loyalty: The Complex Relationship Between Image, Service Quality and Satisfaction. International Journal of Bank Marketing, 16, 276-286. Retrieved April 10 2005 from Emerald Database.
8.4 Newspapers:
¨ Mugambi, K. (2005, March 15). CBA to acquire First American by end of May. The Daily Nation, p 22.
8.5 Personal Communication:
¨ Gicharu, A., March 19, 2005, Commercial Bank of Africa.

8.6 Websites:
¨ C.B.A., (2005). History Background. Retrieved March 11, 2005, from C.B.A. website: http://www.cba.co.ke

¨ C.B.A., (2005). Corporate Banking. Retrieved March 11, 2005, from C.B.A. website: CBA, 2005, http://www.cba.co.ke/cba/index.php?cid=2&sm=&cls=2&fla=$fla

¨ Market Intelligence, (2003). The MI Banking Survey 2003. Retrieved April 5, 2005 from the Market Intelligence website: http://www.mi.co.ke/business_and_finance/banking/banking_survey.asp

¨ Market Intelligence, (2003). Overall Ranking. Retrieved April 5, 2005 from the Market Intelligence website: http://www.mi.co.ke/banking%202003/Banking%20Survey%202003.data/Library/survey%20tables/OVERAL%20RANKING.htm


9 Appendix:
9.1 Interview Questions:

1. Which bank do you go to?
2. How did you know about the bank?
3. What is your general opinion about banking advertisements?
a. Do you feel that banks should advertise themselves more?
b. Should they use other means of promoting themselves?
(Which means should they use more)?
4. If you want to know about banking information, how do you get it?
a. Do you listen to banking advertisements only when you need or want to or do you prefer being informed about banks on a current basis?
5. What makes you keep on using this bank and not any other bank?
6. How would you rate this bank compared to other banks?
7. How do you feel about the services currently offered by this bank?
a. (Are you satisfied with the services provided to you?)
***
For Non-C.B.A. Customers:
Two Questions
1. Have you heard about Commercial Bank of Africa (CBA)?
2. Do you know what services are offered in Commercial Bank of Africa CBA?

9.2 Questionnaire:

1. What Bank do you use? (Write the main). ____________________________________________________________
2. How did you know about the bank? (Select one).
i) Reference (can be from friends/family/or work)
ii) Magazines
iii) Newspaper
iv) Radio
v) Other-Specify ___________________________________________
__________________________________________________________
__________________________________________________________
3. How would you rate the services offered by your bank? (Circle one number e.g. 2 ).
Lending

Excellent! Very Good Good Bad Poor Terrible!

6 5 4 3 2 1

ATM

Excellent! Very Good Good Bad Poor Terrible!

6 5 4 3 2 1


Customer Service

Excellent! Very Good Good Bad Poor Terrible!

6 5 4 3 2 1


Interest Rates on Savings

Excellent! Very Good Good Bad Poor Terrible!

6 5 4 3 2 1

4. For how long have you used the current bank you are in? (Please tick one ü ).
i) 1-4years
ii) 5-9 years

iii) 10-19years
iv) 20 years and over



5. What motivates you to keep to your bank? (Select one).
i) Good quality Services
ii) Low Lending Interest Rates
iii) Good Interest Rates on Savings
iv) Low Bank charges
v) Location
vi) Other (Specify) __________________________________________
___________________________________________________________

6. How does your bank usually inform you? (Select one).
i) Letter/Telephone
ii) Newspaper Advertisements
iii) Brochures
iv) Television Advertisement
v) Radio Advertisement
vi) Other ___________________________________________________
____________________________________________________________
7. What do you think is the best way that the bank can inform you? (Select one).
i) Letter/Telephone
ii) Newspaper Advertisements
iii) Brochures
iv) Television Advertisement
v) Radio Advertisement
vi) Other ___________________________________________________
____________________________________________________________

8. What would mostly influence you to select a certain bank? (Tick one). ü
i) Reference from family/friends or workplace.
ii) Exhibition/Seminar held by the bank
iii) Television Advertisement
iv) Newspaper Advertisement.
v) Radio Advertisement.

9. Were you in another bank before? (Pease tick one, e.g. ü ).
i) Yes (If yes, go to number 10).
ii) No (If no, go to number 11).
10. What was the main reason that made you leave your former bank? (Select one).
i) Inconvenient location
ii) Poor Services
iii) Few Services
iv) High Bank Charges
v) Poor Branch Distribution
vi) Low Interest Rates
vii) Good Interest Rates For Savings.
viii) Low Lending Interest Rates
ix) Others _________________________________________________
_______________________________________________________
_______________________________________________________


11. Do you use Commercial Bank of Africa (CBA)? (Please Tick one). ü
a. Yes (If yes, go to number 12 and 13).
b. No (If no, go to number 14).

12. How do you generally rate the services offered to you in CBA. (If possible,
compare to other Banks you know). (Please circle one number e.g. 2 ).
Lending

Excellent! Very Good Good Bad Poor Terrible!

6 5 4 3 2 1

ATM

Excellent! Very Good Good Bad Poor Terrible!

6 5 4 3 2 1

Customer Service

Excellent! Very Good Good Bad Poor Terrible!

6 5 4 3 2 1


Interest Rates on Savings

Excellent! Very Good Good Bad Poor Terrible!

6 5 4 3 2 1

13. What can the bank do to make the services better? (Select one).
a. Nothing needs improving
b. Better customer service
c. Lower Bank Charges
d. Other __________________________________________________
___________________________________________________
14. Have you heard of Commercial Bank of Africa (CBA)? (Tick one). ü
a. Yes (If yes, go to number 15 and 16 below).
b. No (If no, go to number 17).

15. How did you hear of CBA? (Select one).
a. Reference (can be from friends/family/or work)
b. Magazines
c. Newspaper
d. Radio
e. Other __________________________________________________
________________________________________________________
16. Why haven’t you joined CBA? (Please select one).
a. I don’t know much about it.
b. It is too expensive for me
c. I’m satisfied in my current bank.
d. Other _____________________________________________
______________________________________________
17. What type of advertisement does your bank mainly carry out? (Select one).
a. None
b. TV advertisements
c. Radio Advertisements
d. Newspaper advertisement
e. Other ___________________________________________________
________________________________________________________
18. Is it effective? (Tick one). ü
a. Yes (If yes, go to number 20).
b. No (If no, go to number 19).

19. What method of advertising do you think they should use? (Select one).
a. TV advertisements
b. Radio Advertisements
c. Newspaper advertisement
d. Other ______________________________________________________
_____________________________________________________
_____________________________________________________


20. What do you think of banking advertisements in general? (Select one).
a. Boring
b. Interesting
c. Other __________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
21. What is your Gender? (Tick one) ü
a. Male
b. Female


22. What’s your age? (Tick one) ü

a. 10-19 years
b. 20-29years
c. 30-39years
d. 40-49years
e. 50-59years
f. 60 and above
23. What is your general income per month? (Tick one) ü

a. Below 30,000
b. 30,000-39,000
c. 40,000- 49,000
d. 50,000 and above

Project of Coca-Cola Company

Founded in 1886 in Atlanta, Coca-Cola Aggregation is the world’s arch manufacturer, banker and benefactor of nonalcoholic cooler concentrates and syrups, acclimated to aftermath added than 230 cooler brands. It is additionally the world’s best across-the-board cast and company.
It has already ventured regionally out of Atlanta to added states of United States back the backward 19th aeon and its signature curve canteen was aboriginal bogus in the aboriginal 20th aeon to analyze themselves and acceptable the 18-carat Coca-Cola. Though the aggregation grew rapidly and roared into some European countries during the 1900s, its attendance common grew apace alone afterward World War II.

Year after year, the company has been discovering new foreign markets to bring higher profits as to fulfill its ultimate obligation to provide consistently attractive returns to the owners of the company and to enlarge its customer base in order to achieve economics of scale. Due to strong competition with Pepsi-Cola, Coca-Cola wants to reduce its dependence on United States market, which is their similar domestic market, as to reduce its risk and increase its global market share by going international. Presently, the company has already reached six billion consumers in nearly two hundred countries.

Coca-Cola Company has been very successful in international marketing effort. Aggressive advertising, branding and market segmentation have played an important part in the success. It has portrayed itself as fun, playfulness, freedom, lifestyle and the international appeal of Coca-Cola was embodied by a 1971 commercial, where a group of young people from all over the world to a hilltop in Italy to sing “I’ll like to buy the world a Coke”.

The company has been sponsoring big events, like Olympics, Sea Games, FIFA Cup, International Film Festivals all over the world to create awareness, credibility and to brand itself as world-class company. It also makes big donations to organizations, charities and involvement in the communities. These activities have aided Coca-Cola in creating a positive image and consumers’ perception toward the company.

Though the company makes the world its target market, segmenting by diverse consumer preferences would still required to help Coca-Cola to serve the consumers better. As different segments of different countries have various preferences or cultures, Coca-Cola tried to expand with new flavors, brands and even reduced the sugar contents in its Coke, to suit all the different segments. This often increases the acceptance of new drinks that are specially designed for them.

Coca-Cola entered foreign markets in various ways. The most common modes of entry are direct exporting, licensing and franchising.

Besides beverages and their special syrups, Coca-Cola also directly exports its merchandise to overseas distributors and companies. Other than exporting, the company markets internationally by licensing bottlers around the world and supplying them with the syrup needed to produce the product.

There are different types of franchising. The type that is used by Coca-Cola Company is manufacturer-sponsored wholesaler franchise system. It is very comparable to licensing but the only difference is that the finished products are sold to the retailers in local market.

Foreign environment factors have influenced the Coca-Cola’s strategies in international marketing. Culture has a tremendous effect on people’s preferences and perception. Language is one of the aspects of culture that marketers must take care of, in term of translating product name, slogans and promotional messages so as not to convey the wrong meaning. Coca-Cola did not look much into this aspect when entering into the markets of countries like China and Taiwan as the literal translation of Coca-Cola in Chinese characters mean, “bite the wax tadpole”.

Political structure and legal considerations also have impinged on Coco-Cola Company’s strategies. Governments of some Arab nations boycotted Coca-Cola’s products due to a political dispute and discontented with the company for maintaining distributors in Israel.

Changes are necessary in international marketing for consumer’s products, as it is important that the products suit one’s taste, preferences and fulfill one’s needs. Coca-Cola has continued changing, improving and developing new drinks to appeal to local tastes.

After discovering that Coke did not appeal as much to Japanese consumers, Coca-Cola developed over 30 new drinks for the Japanese market, which inclusive of Asian tea, English tea, coffee and fermented-milk drink.

In China, Coca-Cola has also begun the similar strategy of introducing beverages developed for the taste buds of local market. It launched a fruit juice drink called Tian Yu Di (Heaven and Earth) specifically for the Chinese market with planning of introducing the market with a Chinese iced tea and soy milk drink.

Being flexible and willing to change to satisfy consumers’ needs, has enabled Coca-Cola to exploit the economies of scale that was gained by its global marketing and at the same time making its products appeal to local taste, which these have earned the company an enormous profits quarterly.

As Coca-Cola has expanded over the decades or even nearly a century, the company has benefited from the various cultural insights and perspectives of the societies in which business is done. No doubt of the remarkable experience it has, it is still very committed to local markets, to paying attention to what people from different cultures and backgrounds like to drink, and where and how they like to drink it, to remain competitive and to develop more new drinks to satisfy its markets.

Now, the estimated brand equity of Coca-Cola is $84billion, market share of more than 50 percent in beverage industry globally and about 70 percent of its income comes from countries outside United States. Every 10 seconds, 126,000 people in the whole world, choose to reach out for one of The Coca-Cola Company brands, and it is the company’s mission to make that choice exciting and satisfying, every single time.

Not only to make great drinks, Coca-Cola is also determined to contribute to communities around the world through its commitments to education, health, wellness, and diversity and consistently shaping its business decisions to improve the quality of life in the communities in which the company do business.

Project Report on Gender Difference Practice lead to low efficiency

Metro_societyImage by peterjaena via Flickr Gender differences are mostly determined by social behaviors. Men and women are different; therefore, they are treated differently by society. The gaps become more apparent as we grow up, in the way children are raised today. Later, boys and girls start to think and speak differently, because of the influence of the environment. Finally, the impact of society shapes the behavior of individuals, widening the gap between both sexes.
The gender differences start to appear early in the way the children are raised. Those can be as simple as dressing girls in pink as opposed to boys wearing blue. The parents teach girls to be nice and gentle, when boys are taught to be tough and never to cry. The differences deepen, when as teenagers, girls try to be the most popular among friends, using their appearance to attract attention. Boys want to be popular too. But they do not try to be nice to each other or mingle with other boys. They try to imitate adults. To be popular, they need to show leadership and toughness. They get involved in contact sports and anything that shapes their endurance. Parents and school are the most influential tools in shaping young lives in which differences between genders broaden in time.
One of the differences existing between genders and created by society is the way men and women speak. From the youngest age, the girls are taught to “temper what they say so as not to sound too aggressive” (Tannen, Women and men talking on the job, 442). Because of that, their self confidence is not as strong as men. Girls do not think of themselves as strong leaders, simply because they are taught to think this way. In contrary, men are taught to speak their mind, not to be shy and fight the obstacles. They think of themselves as born leaders, therefore, they are more prepared to speak firmly, which gives an “impression of confidence” (Tannen, 445). That firm and confident way of speaking give men the advantage over women in the current business world.
Men and women behave differently, because society demands it. The effects of that are easy to observe in the current and aggressive business world. Women tend to “phrase their ideas as suggestions rather then orders” (Tannen, 444). They do not want to be perceived as bossy, because they want to be likable. They use their feelings in every aspect of life, whereas men can easily separate feelings from business. The impression of power and superiority is highly admirable among men. They are expected to “give orders” (Tannen, 445) and push others around. As oppose to women, they do not need to be likable. Such a behavior would be perceived as weakness, a lack of leadership. The society and stereotypes demand from men to be strong and aggressive. The demand of society toward men and women are different, which create two different ways of behavior.
I claim that differences between genders are the result of surrounding society. From an early age, boys and girls are treated differently by their parents. The influence of the environment can also be observed in the way boys and girls think and speak when they become teenagers. As they become adults, the impact of society on the behavioral differences becomes vivid and result in widening the gap between both genders.

INTERNSHIP U.K FOR THE YEAR 2010

What you can do in our Internship Programs

We offer unpaid internships with fully subsidised use of office facilities, and comfortable accomodation with complimentary facilities, to well motivated, young individuals from the UK and around the world.




Our unique culture and international business environment allows our UK interns to thrive with exposure to many different cultures and languages; while our international interns have the opportunity to gain a good grasp of English, working in one of the World's leading commercial regions.
Apply now








Special opportunities are available at our company for our domestic and native-speaking interns and students. We are looking for applicants with a high level of English written and verbal English skills, especially those ready to take responsibility and wanting the opportunity to gain experience in management.


To produce these opportunities, we offer flexible internships starting with the ability to begin and move up in one of our many departments, as shown below.

The possibilities are very open, and depending on your input, you could start off in Marketing, help out with Web Design, and end up in Human Resources! Alternatively, there are also the more specific and longer term internship programs in the fields of Project Management and Business Development Managemnet.

Every year we give hundreds of like-minded, motivated students and interns the opportunity to gain the knowledge and international work experience they require to succeed in their future careers by working in our international business as an intern in the UK.



Click here to learn more about internship programs in our companies.

Ideally at Internship UK we are looking for candidates who have a thirst for learning and who would like to acquire additional skills and qualities to help further their careers. Whether as a student or as an intern to gain the most out of this internship experience we prefer to take on long term candidates who are both business focused and determined to further themselves and those around them.

Is a long term candidate you will have the added advantage of building up the necessary skills to help lay the foundations of a fruitful career in the field of your choice.

Apply now to one of our internship programs below:



Accounting & Finance
Advertising & Copywriting
Business Development Management
Customer Relationship Management & Sales
Event Management
Facility Management
Hotel Catering
Human Resources
IT Web Design
IT Web Development
Marketing Internship
Media Internship
Project Management
Property Management
Public Relations
Recruitment Internship
Translation Internship

The Perfect Way to Gain Work Experience in the UK

Build your CV with Practical & International Work Experience: Complete an Internship in the UK

Would you like to have a life changing experience? Are you excited by problems because you see them as opportunities to grow as a person? Are you tired of looking for work experience that requires 6 months of work experience?



You may be interested in finding out more about our internships, to become like many other talented individuals who have since launched successful careers in today's global marketplace.

Unlike other internship programs, you will be immediately working in a real business environment, gaining practical work experience while being able to take real responsibilities and having a direct impact on our strategic decision making. Working in this challenging environment, in the UK, you can gain the concrete skills and cutting edge concepts required to launch a truly successful business career.

To find out if you are eligible for an Internship with us feel free to visit our application process page

INTERNSHIP REPORT OF ICCI BANK NEW

PREFACE


People are a companys most important assets. They can make or break the fortunes of a business. In todays highly competitive business environment placing the right people in the right position is very critical for the success of any organization. The recruitment and selection decision is of prime importance as it is the vehicle for obtaining the best possible person-to-job fit that will, contribute significantly towards the Company's effectiveness. It is also becoming increasingly important, as the Company evolves and changes, that new recruits show a willingness to learn, adaptability and ability to work as part of a team. The Recruitment & Selection procedure ensures that these criteria are addressed In this project I have studied Recruitment and Selection process of ICICI Prudential Life Insurance and attempted to provide some ways so as to make recruitment more effective and to reduce the cost of hiring an employee. I am privileged to be one of the students who got an opportunity to do my training with ICICI Prudential Life Insurance. My involvement in the project has been very challenging and has provided me a platform to leverage my potential in the most constructive way. ICICI Prudential Life insurance is one of India's leading financial institutions offering complete financial solutions that encompass every sphere of life. In a short span of time,ICICI has set an example by having a steady and confident journey to growth and success. During the training period I have studied deeply the process of hiring in ICICI Prudential Life insurance and did a SWOT analysis of ICICI Prudential Life Insurance to find out the existing shortcomings and potential threats and thereby recommended suggestions. This project however is an attempt to share as best as possible my experience in corporate world with all my colleagues and my faculty. I would be delighted to receive reader�s comments which maybe valuable lessons for my future projects. EXECUTIVE SUMMARY In today�s rapidly changing business environment, organizations have to respond quickly to requirements for people. The Financial market has been witnessing growth which is manifold for last few years. Many private players have entered the economy thereby increasing the level of competition. In the competitive scenario it has become a challenge for each company to adopt practices that would help the organization stand out in the market. The competitiveness of a company of an organization is measured through the quality of products and services offered to customers that are unique from others. Thus the best services offered to the consumers are result of the genius brains working behind them. Human Resource in this regard has become an important function in any organization. All practices of marketing and finances can be easily emulated but the capability, the skills and talent of a person cannot be emulated. Hence, it is important to have a welldefined recruitment policy in place, which can be executed effectively to get the best fits for the vacant positions. Selecting the wrong candidate or rejecting the right candidate could turn out to be costly mistakes for the organization. Therefore a recruitment practice in an organization must be effective and efficient in attracting the best manpower.


Coverage �The extent and limitation With largest number of life insurance policies in force in the world, insurance happens to be a mega opportunity in India. Its business is growing at 15-20% annually and presently is of the order of Rs. 450m. Together with banking sector it adds about 7% to the GDP. Like in the case of BPO�s, Insurance sector too faces the problem of attrition. Thus, recruitment is an ongoing process carried through out the year. The project is based on the study of recruitment process. The various recommendations suggested have been the result of the study. The idea is to generate ways of dealing with high attrition and making hiring process manageable and efficient.

Data Used There were mainly two sources of data collection � � � � v � � � Primary data: Survey method Personal interview with candidates In depth conversation with the placement agency Secondary data: Study of recruitment policy Websites Published articles

Research methodology used v Study of recruitment and selection at ICICI Prudential Life Insurance by the manual provided by the HR department; v v v v Web sites Journals Magazines Books

Findings v Recruitment is done throughout the year more during the months of May-June and Oct-Nov; v v Huge investment of time; Huge recruitment cost;

To pursue these, I would be going through the recruitment policies of the company. By active participation in the recruitment process, the areas where improvement can be bought about can be identified. Thus the whole research would be done under the guidance of external guide. It will also involve recruitment and selection processes, reading the material provide internally by the organization, information from the new employees.

Introduction 1.1 Introduction Of The Insurance Industry Overview The story of insurance is probably as old as the story of mankind. The same instinct that prompts modern businessmen today to secure themselves against loss and disaster existed in primitive men also. They too sought to avert the evil consequences of fire and flood and loss of life and were willing to make some sort of sacrifice in order to achieve security. Though the concept of insurance is largely a development of the recent past, particularly after the industrial era � past few centuries � yet its beginnings date back almost 6000 years. The first two decades of the twentieth century saw lot of growth in insurance business. From 44 companies with total business-in-force as Rs.22.44 crore, it rose to 176 companies with total business-in-force as Rs.298 crore in 1938. The Insurance Act 1938 was the first legislation governing not only life insurance but also non-life insurance to provide strict state control over insurance business. Some of the important milestones in the life insurance business in India are: 1818: Oriental Life Insurance Company, the first life insurance company on Indian soil started functioning. 1870: Bombay Mutual Life Assurance Society, the first Indian life insurance company started its business. 1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business. 1928: The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses. 1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public. 1956: 245 Indian and foreign insurers and provident societies are taken over by the central government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of India. The General insurance business in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British.

Some of the important milestones in the general insurance business in India are: 1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general insurance business. 1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices. 1968: The Insurance Act amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up. 1972: The General Insurance Business (Nationalisation) Act, 1972 nationalised the general insurance business in India with effect from 1st January 1973. With largest number of life insurance policies in force in the world, Insurance happens to be a mega opportunity in India. It�s a business growing at the rate of 15-20 per cent annually and presently is of the order of Rs 450 billion. Together with banking services, it adds about 7 per cent to the country�s GDP. Gross premium collection is nearly 2 per cent of GDP and funds available with LIC for investments are 8 per cent of GDP. Yet, nearly 80 per cent of Indian population is without life insurance cover while health insurance and non-life insurance continues to be below international standards. And this part of the population is also subject to weak social security and pension systems with hardly any old age income security. This itself is an indicator that growth potential for the insurance sector is immense. A well-developed and evolved insurance sector is needed for economic development as it provides long term funds for infrastructure development and at the same time strengthens the risk taking ability. It is estimated that over the next ten years India would require investments of the order of one trillion US dollar. The Insurance sector, to some extent, can enable investments in infrastructure development to sustain economic growth of the country. India has come a full circle from being an open competitive market to nationalization and back to a liberalized market again. Tracing the developments in the Indian insurance sector reveals the 360 degree turn witnessed over a period of almost two centuries. Present Scenario The Government of India liberalized the insurance sector in March 2000 with the passage of the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry restrictions for private players and allowing foreign players to enter the market with some limits on direct foreign ownership. The opening up of the sector is likely to lead to greater spread and deepening of insurance in India and this may also include restructuring and revitalizing of the public sector companies. In the private sector 14 life insurance and 8 general insurance companies have been registered. A host of private Insurance companies operating in both life and non-life segments have started selling their insurance policies.. Life Insurance Market The Life Insurance market in India is an underdeveloped market that was only

tapped by the state owned LIC till the entry of private insurers. The penetration of life insurance products was 19 percent of the total 400 million of the insurable population. The state owned LIC sold insurance as a tax instrument, not as a product giving protection. Most customers were under- insured with no flexibility or transparency in the products. With the entry of the private insurers the rules of the game have changed. The 12 private insurers in the life insurance market have already grabbed nearly 9 percent of the market in terms of premium income. The new business premiums of the 12 private players has tripled to Rs 1000 crore in 2002- 03 over last year. Innovative products, smart marketing and aggressive distribution. That's the triple whammy combination that has enabled fledgling private insurance companies to sign up Indian customers faster than anyone ever expected. Indians, who have always seen life insurance as a tax saving device, are now suddenly turning to the private sector and snapping up the new innovative products on offer. The private insurers also seem to be scoring big in other ways- they are persuading people to take out bigger policies. Buoyed by their quicker than expected success, nearly all private insurers are fast- forwarding the second phase of their expansion plans.

Major Insurance Players Licenses have been issued for the following companies � � � � � � � � � � � � � � ICICI Prudential Life Insurance Limited

ICICI Prudential Life Insurance Company Limited HDFC Standard Life Insurance Company Limited Birla Sun Life Insurance Company Limited TATA AIG Life Insurance Company Limited Max New York Life Insurance Company Limited SBI � Cardiff Life Insurance Company Limited ING Vysya Life Insurance Company Limited Bajaj Allianz Life Insurance Company Limited MetLife Life Insurance Company Limited Aviva Life Insurance Company Limited AMP Sanmar Life Insurance Company Limited Sahara India Life Insurance Limited Sri Ram Life Insurance Limited

Protection of the interests of policyholders:

IRDA has the responsibility of protecting the interest of insurance policyholders. Towards achieving this objective, the Authority has taken the following steps: v IRDA has notified Protection of Policyholders Interest Regulations 2001 to provide for: policy proposal documents in easily understandable language; claims procedure in both life and non-life; setting up of grievance redressal machinery; speedy settlement of claims; and policyholders' servicing. The Regulation also provides for payment of interest by insurers for the delay in settlement of claim. v The insurers are required to maintain solvency margins so that they are in a position to meet their obligations towards policyholders with regard to payment of claims. v It is obligatory on the part of the insurance companies to disclose clearly the benefits, terms and conditions under the policy. The advertisements issued by the insurers should not mislead the insuring public. v All insurers are required to set up proper grievance redress machinery in their head office and at their other offices. The Authority takes up with the insurers any complaint received from the policyholders in connection with services provided by them under the insurance contract. 1.2 COMPANY PROFILE ICICI Prudential Life Insurance ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse and Prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI was established in 1955 to lend money for industrial development. Today, it has diversified into retail banking and is the largest private bank in the country. Prudential plc was established in 1848 and is presently the largest life insurance company in UK. ICICI Prudential is currently the No. 1 private life insurer in the country. For the financial year ended March 31, 2005, the company garnered Rs 1584 crore of new business premium for a total sum assured of Rs 13,780 crore and wrote nearly 615,000 policies. The Company recognizes that the driving force for gaining sustainable competitive advantage in this business is superior customer experience and investment behind the brand. The Company aims to achieve this by striving to provide world class service levels through constant innovation in products, distribution channels and technology based delivery. The Company has already taken significant steps to achieve this goal. India's Number One private life insurer, ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank-one of India's foremost financial services companies-and Prudential plc- a leading international financial services group headquartered in the United Kingdom. Total capital infusion stands at Rs. 23.72 billion, with ICICI Bank holding a stake of 74% and Prudential plc holding 26%. ICICI Prudential was the first life insurer in India to receive a National Insurer Financial Strength rating of AAA (Ind) from Fitch ratings. For three years in a row, ICICI Prudential has been voted as India's Most Trusted Private Life Insurer, by The Economic Times - AC Nielsen ORG Marg survey of 'Most Trusted Brands'. As we grow our distribution, product range and customer base, we continue to tirelessly uphold our commitment to deliver world-class financial solutions to customers all over India.

FACT SHEET THE COMPANY ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse, and Prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). ICICI Prudential's capital stands at Rs. 23.72 billion with ICICI Bank and Prudential plc holding 74% and 26% stake respectively. For the first quarter ended June 30, 2007, the company garnered Rs. 987 crore of weighted retail + group new business premiums and wrote over 450,000 retail policies in the period. The company has assets held to the tune of over Rs. 18,400 crore. ICICI Prudential is also the only private life insurer in India to receive a National Insurer Financial Strength rating of AAA (Ind) from Fitch ratings. The AAA (Ind) rating is the highest rating, and is a clear assurance of ICICI Prudential's ability to meet its obligations to customers at the time of maturity or claims. For the past six years, ICICI Prudential has retained its position as the No. 1 private life insurer in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life. Distribution ICICI Prudential has one of the largest distribution networks amongst private life insurers in India. It has a strong presence across India with over 680 branches and over 235,000 advisors. The company has over 23 bancassurnace partners, having tie-ups with ICICI Bank, Federal Bank, South Indian Bank, Bank of India, Lord Krishna Bank, Idukki District Co-operative Bank, Jalgaon Peoples Co-operative Bank, Shamrao Vithal Co-op Bank, Ernakulam Bank, 9 Bank of India sponsored Regional Rural Banks (RRBs), Sangli Urban Co-operative Bank, Baramati Co-operative Bank, Ballia Kshetriya Gramin Bank, The Haryana State Co-operative Bank and Imphal Urban Cooperative Bank Limited. Products Insurance Solutions For Individuals ICICI Prudential Life Insurance offers a range of innovative, customer-centric products that meet the needs of customers at every life stage. Its products can be enhanced with up to 4 riders, to create a customized solution for each policy holder. Savings Solutions Save�n�Protect is a traditional endowment savings plan that offers life protection along with adequate returns. CashBak is an anticipated endowment policy ideal for meeting milestone expenses like a child�s marriage, expenses for a child�s higher education or purchase of an asset. LifeTimeSuper offer customers the flexibility and control to customize the policy to meet the changing needs at different life stages. Each offer 4 fund options � Preserver, Protector, Balancer and Maximiser. LifeLink Super is a single premium Unit Linked Insurance Plan which combines life

insurance cover with the opportunity to stay invested in the stock market. Premier Life Gold is a limited premium paying plan that offers customers life insurance cover till the age of 75. InvestShield Life New is a unit linked plan that provides premium guarantee on the invested premiums and ensures that the customer receives only the benefits of fund appreciation without any of the risks of depreciation. � InvestShield Cashbak is a unit linked plan that provides premium guarantee on the invested premiums along with flexible liquidity options. Protection Solutions LifeGuard is a protection plan, which offers life cover at very low cost. It is available in 3 options � level term assurance, level term assurance with return of premium and single premium. HomeAssure is a mortgage reducing term assurance plan designed specifically to help customers cover their home loans in a simple and cost-effective manner. Child Plans � SmartKid education plans provide guaranteed educational benefits to a child along with life insurance cover for the parent who purchases the policy. The policy is designed to provide money at important milestones in the child�s life. SmartKid plans are also available in unit-linked form � both single premium and regular premium. Education Insurance Plans � Education insurance under the SmartKid brand provides guaranteed educational benefits to a child along with life insurance cover for the parent who purchases the policy. The policy is designed to provide money at important milestones in the child's life. SmartKid plans are also available in unit-linked form - both single premium and regular premium Retirement Solutions ForeverLife is a retirement product targeted at individuals in their thirties. Market-linked retirement products LifeTime Super Pension is a regular premium market-linked pension plan. Golden Years: is a limited premium paying retirement solution that offers tax benefits up to Rs 100,000 u/s 80C, with flexibility in both the accumulation and payout stages. Health Solution Health Assure and Health Assure Plus: Health Assure is a regular premium plan which provides long term cover against 6 critical illnesses by providing policyholder with financial assistance, irrespective of the actual medical expenses. Health Assure Plus offers the added advantage of an equivalent life insurance cover � Cancer Care: is a regular premium plan that pays cash benefit on the diagnosis as well as at different stages in the treatment of various cancer conditions. � Diabetes Care and Diabetes Care Plus*: 1st ever critical illness insurance cover for diabetics. � Hospital Care*: Hospital Care offers a Cashless hospitalization facility in more then 3000 network hospitals � Crisis Cover : is a 360-degree product that will provide long-term coverage against 35 critical illnesses, total and permanent disability, and death Note (*) products Re-launched on 1st July 2006

Group Insurance Solutions ICICI Prudential also offers Group Insurance Solutions for companies seeking to enhance benefits to their employees. ICICI Pru Group Gratuity Plan: ICICI Pru�s group gratuity plan helps employers fund their statutory gratuity obligation in a scientific manner. The plan can also be customized to structure schemes that can provide benefits beyond the statutory obligations. ICICI Pru Group Superannuation Plan: ICICI Pru offers a flexible defined contribution superannuation scheme to provide a retirement kitty for each member of the group. Employees have the option of choosing from various annuity options or opting for a partial commutation of the annuity at the time of retirement. ICICI Pru Group Term Plan: ICICI Pru�s flexible group term solution helps provide affordable cover to members of a group. The cover could be uniform or based on designation/rank or a multiple of salary. The benefit under the policy is paid to the beneficiary nominated by the member on his/her death. Flexible Rider Options ICICI Pru Life offers flexible riders, which can be added to the basic policy at a marginal cost, depending on the specific needs of the customer. 1. Accident Benefit: If death occurs as the result of an accident during the term of the policy, the beneficiary receives an additional amount equal to the rider sum assured under the policy. If the death occurs while traveling in an authorized mass transport vehicle, the beneficiary will be entitled to twice the sum assured as additional benefit. 2. Accident & Disability Benefit: This rider option pays 10% the sum assured under the rider every year till next 10 years on Accidental Permanent Disability of 2 Organs. 3. Critical Illness Benefit: protects the insured against financial loss in the event of 9 specified critical illnesses. Benefits are payable to the insured for medical expenses prior to death. 4. Income Benefit: This rider pays the 10% of the sum assured to the nominee every year, till maturity, in the event of the death of the life assured. It is available on SmarKid, SecurePlus and CashPlus 5. Waiver of Premium: In case of total and permanent disability due to an accident, the premiums are waived till maturity. This rider is available with SecurePlus and CashPlus. Choice of Six Investment Options :ICICI prudential offers you the opportunity of selecting between investment options to match your investment priorities. 1) Protector:An Investment Option with investment indebt and money market instruments. 2) Maximiser :An investment option with investment in equity and equity related

instruments. 3) Balancer :-

An investment option with investment in a mix of equity and debt oriented instruments. 4) Preserver :An investment option with investment in low-risk instruments like

cash and call money markets. 5)

Flexi Growth:-

New Fund (NFO) launched in March 2007, Long term returns from an equity portfolio lare,mid and small cap companies. 6) Flexi balanced:-

Balance of capital appreciation and stable returns from an equity (large,mid & small cap companies) & debt portfolio.

Vision and Mission Their vision is to make ICICI Prudential Life Insurance Company the dominant new insurer in the life insurance industry. This they hope to achieve through their commitment to excellence, focus on service, speed and innovation, and leveraging our technological expertise. The success of the organisation will be founded on its strong focus on values and clarity of purpose. These include: � Understanding the needs of customers and offering them superior products and service � Building long lasting relationships with their partners

� Providing an enabling environment to foster growth and learning for their employees And above all building transparency in all our dealings. They believe that they can play a significant role in redefining and reshaping the sector. Given the quality of their parentage and the commitment of their team, they feel that tere will be no limits to their growth. DISTRIBUTION ICICI Prudential has one of the largest distribution networks amongst private life insurers in India, having commenced operations in 150 cities and towns in India, stretching from Bhuj in the west to Guwahati in the east, and Jammu in the north to Trivandrum in the south. The company has 9 bank partnerships for distribution, having agreements with ICICI

Bank, Bank of India, Federal Bank, South Indian Bank, Lord Krishna Bank, and some co-operative banks, as well as over 300 corporate agents and brokers. It has also tied up with NGOs, MFIs and corporates for the distribution of rural policies. ICICI Prudential has recruited and trained more than 1, 90,000 insurance advisors to interface with and advise customers. Further, it leverages its state-of-the-art IT infrastructure to provide superior quality of service to customers RegisteredOffice : ICICI Towers 9thfloor, Bandra-Kurla Complex Mumbai - 400 051. Tel: 494 3232 Regional Office : 8th floor EROS Coorporate Tower,Nehru place, New Delhi-110011.Tel:46554405 Delhi office : 3rd floor Videocon Towers E-1, Rani Jhansi Road New Delhi - 110055. Tel: 601 3232 ICICI Prudential Life Insurance opens office in Dubai In a move to consolidate its position in the Gulf region, ICICI Prudential Life Insurance (ICICI Prudential), India's No. 1 private life insurance company, today opened its representative office in Dubai, becoming the first private life insurer from India to open an office in the Emirate. At ICICI Prudential we offer pragmatic, world-class solutions. Put simply, solutions with a lot of common sense. Solutions that take care of your four basic financial needs - Earning, Saving, Investing and Spending. So you live your life to the fullest, sans worries.

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