Promotional Mix of Insurance Products – A Value Addition to Sale of Insurance Products

The promotional mix is a term used to describe the set of tools that a business can use to communicate effectively the benefits of its products or services to its customers. The purpose of promotion is to reach the targeted consumers and persuade them to buy. Promotion has been defined as the coordination of all seller-initiated efforts to set up channels of information and persuasion to sell goods and services or promote an idea. Sales promotion is vital element of promotional mix. With the increase in the growth of players in Insurance sector (both public and private) the insurance companies are finding it difficult to promote their products. This paper tires to study the benefits of promotional activities as a tool for selling the insurance products to the final customer