The latest victim of Repositioning seems to be Bajaj Allianz life Insurance. They have changed their tagline from “Jaise Jarurat waise insurance” to “Jiyo Befikar”. The original tagline mentioned about ‘customised offering’ by Bajaj Allianz. The new positioning mentions about the trust factor which has an emotional appeal.
Trust factor is the most important criteria in Insurance products. The problem though with this new positioning is that the other companies have already made this appeal in their positioning. ICICI Prudential’s tagline ‘Jeetey Raho’; SBI Life’s tagline ‘With Us, you’re sure’; Birla Sun Life’s tagline ‘muskurate raho’ and HDFC Standard Life’s tagline ‘Sar Utha Ke Jiyo’, all mention about the trust factor with an Emotional appeal.
This is where Bajaj Allianz has made a mistake. It was the only company which focused on the product with a practical appeal. It differentiated itself explicitly from the other companies. By doing this new positioning with an emotional appeal, it has lost out on the differentiation.
thanks for the review!
ReplyDeletealternatively, i found an article on the "Jiyo Befikar' campaign which postulates the contrary!
http://tinyurl.com/m5x6gt
plz check it out..
bonding with the customer is good as mentioned in that article. but not at the cost of ur differentiation. all others r doing the same. so it becomes a sort of 'herd mentality'. they r not wrong in trying to do it but it wasnt necessary.
ReplyDeleteYou know, this positioning is based on research findings across the country. However, Bajaj Allianz has not discontinued the customized product offerings.
ReplyDeleteYes, most certainly.. positioning is based on research findings, not statistical research but qualitative research where we have to take a 'position' unoccupied by competition...
ReplyDeleteAnd Bajaj Allianz surely hasnt stopped its customised offerings and neither should it... but the message going to the customer now, isnt about customised offerings... this is something i dont entirely agree with
Thank You
ReplyDeleteI feel that trust is of higher importance then the customized policy but its always good if you can customize an insurance policy according to your requirement and preference.
ReplyDelete