Table of Contents

1. Executive SummaryP# 2 2. Introduction to Education System of Pakistan..P# 3-6 3. Why do we need education Insurance.................................................................................P#7-10 4. 4 Ps AnalysisP#11-17 5. Segmentation of Fortune Education InsuranceP#18-28 6. Brand Image & Personality.P# 29-31 7. Target Market of Fortune Education InsuranceP# 32-35 8. Motivations.P# 36-38 9. Positioning of Fortune Education Insurance P# 39-41 10. Sample Document of Fortune Education Insurance Policy..P# 42-45

1|Page

Executive Summary:
This report provides an extensive idea about the new educational plan launched by our group. The educational data provides the background of educational activity and the literacy rate in the country this report constitutes the 4 Ps analysis. In which the elements of marketing mix Product (service), price, promotion, and placement are discussed in detail. The report gives a comprehension about the service with a sample document at the end of it. The document contains all the financial data with all the terms and conditions which depict flexibility according to the requirement of the market. The plan covers almost all the major universities of the country which is need of the hour for any parent.

Pakistan market is new for the venture of such an educational insurance policy but this report gives the feasibility in financial as well as marketing terms. Segmenting is done on geographic, demographic and psychographic basis. Similarly the main target market is the middle class which promotes education of its children and wants a bright future for their children. Our plan provides them with an opportunity to plan for their child education so that they are able to cope with the financial burden when needed. The Positioning of the brand is based on the psychological as well as sociological need of educating our future generation.

2|Page

Introduction to Education System of Pakistan

3|Page

Education System of Pakistan

Education is considered as one of the primary tool for the success of any country. Without education a human being can not accurately distinguish between the right and wrong. Pakistan is an Islamic state and according to our religion Islam, Education is compulsory for every human being. Pakistan is a democratic state and according to the constitution of 1973,Education in Pakistan is overseen by the government Ministry of Education. The academic institutions are the responsibility of the provincial governments whereas the federal government mostly assists in curriculum development, accreditation and some financing of research. The education system of Pakistan is composed of government and private institutions, but the basic structure of education in Pakistan is classified as: Post Graduate Bachelor level (BSC, BA, BE, BBA, BCOM, MBBS) Intermidiate or HSSC ( Grade 11 - 12) High or SSC (Grade 9- 10) Middle ( Grade 6- 8) Primary ( Grade 1- 5)

With the structures of education like this now comes the main point, what is the literacy rate of Pakistan?

4|Page

According to the Ministry of Education Pakistan, the literacy rate in 2009 was 57%. Its detailed description is mentioned in the following charts;

5|Page

This graph clearly shows that from the beginning of Pakistan only its two provinces are educationally strong i-e Punjab and Sindh. The reason behind them is that Sindh includes the Karachi city which is the economic heart of Pakistan and that is why due to economic activities the focus of the people is towards the education side. Punjab being the province of 5 rivers , is strong on the agriculture side and factories also. Most of the important institutions of Pakistan lies in the province of Punjab, this the reason behind the higher literacy rate of Punjab as compared to the other provinces.

6|Page

Why Do We Need Education Insurance.???

7|Page

Introduction:
The cost of higher education is increasing. The need for access to higher education and the cost will put a financial strain on you and your family. That is why it is important to start planning for your child's education as soon as possible, because the earlier you begin, the more time you allow your money to grow. FORTUNE education policy will provide the funds needed by your child to pursue further education and assures that whatever happens in the future, your child will still have the means to pursue some of his/her goals in life. As a parent, you would not like to compromise your child's bright career, regardless of the rising cost of education. All you need is a savings plan that is designed to provide money at key educational milestones and take care of your loved ones future even if you are not around. FORTUNE Education insurance offers you unique features which ensure that this objective is achieved and it helps in strengthening your childs dreams.

8|Page

In the times of today we need insurance for the following reasons

Increasing costs of education : The costs of education is increasing at a rapid pace across all levels. In order to ensure that you can pay for your childrens educations you need to start saving at the earliest.

Multiple interests of children : In order to ensure that your child is an all-rounder you need to train him in different areas like sports, dancing, singing etc. All these extra-curricular activities cost huge money and hence add to the overall cost of education.

9|Page

Tax benefits : Apart from protection and savings, wealth insurance plans also offer tax benefits as per prevailing tax laws.

Protection : In the unfortunate event of death of the parent during the term of the Policy, this insurance wells help your child to pursue his dreams.

10 | P a g e

4 Ps Analysis of Fortune Education Insurance Policy

11 | P a g e

4 ps Analysis
Product (education insurance policy)
The cost of higher education in Pakistan is increasing. The need for access to higher education and the cost will put a financial strain on you and your family. That is why it is important to start planning for your child's education as soon as possible, because the earlier you begin, the more time you allow your money to grow. This insurance policy will provide the middle class parents of Pakistan to educate their children in the university or college of their choice. Due to financial constraints many parents cannot execute the higher studies of their children as they would like. The insurance policy is complete policy with packages affordable. FORTUNE education policy will provide the funds needed by your child to pursue further education and assures that whatever happens in the future, your child will still have the means to pursue some of his/her goals in life. The insurance concept is new to Pakistani environment but to initiate it might be a healthy option. The plan provides the parents the opportunity to save money in a way that increases its application. The insurance will provide with flexible terms and conditions which ensure that they take full benefits form the options .These term and conditions will be implemented from the start of the insurance policy.

Terms and conditions

1. If you are not satisfied with the terms and conditions of the policy, you have the right to

cancel the policy within 15 days from the date of its receipt of policy document. 2. Installation payment should be deposited according to the payment plan selected. 3. Payment should be deposited cash in the Standard Chartered Bank in the account; its no is mentioned on the payment slips. Or it should be paid via bank draft and post it to our main office. 4. Installation payment should not be more or equal to Rs 100,000 per anum. 5. The policy will be terminated if the policy holder did not deposit the three consecutiveinstallments.
12 | P a g e

6. If the policy holder wants to increase the future money level, then the interest rate will be charged differently according to the that time of economic conditions. 7. Policy holder will not claim its deposited amount before 4 years. 8. The return of the policy will deduct 45% of the deposited amount; if the policy is returned within 1year from its start then no amount will be paid back. 9. In case of the death of both parents the child will be entertained with the 100% amount of the insurance policy. 10. In case of the death of father/mother the child will be entertained with the 50% amount of the insurance policy. 11. Policy alterations that are subject to the miscellaneous charges are as follows: Change in date of birth Change in address Change in payer, nominee or appointee Change in premium payment mode Increase or decrease in Sum Assured Addition or deletion of riders Policy assignment 12. The company reserves the right to change the charges with the period of time.

13 | P a g e

Price
Financial Data for the Fortune education insurance policy is based on the financial terminology of time value of money. Going in more detail of Time value of money insurance policys came under the head of Future value of money, they are calculated by this Formulae:

((
Where; FVA = Future value of annuity PMT= installment amount I N = interest rate = no of years

There are two types of Future value of annuities; 1. Ordinary Annuity 2. Due Annuity In this specific scenario for Educational insurance policy we are using the concept of ordinary annuity.

14 | P a g e

Pricing Structure
Minimum/ Maximum Insurance limit Maturity Life Payment mode Minimum Payment Interest rate Minimum age of parent ( entry) Maximum age of parent ( maturity) Minimum age of child ( Entry) Maximum age of child (Maturity) Rs 800,000/ Rs 2,000,000 10/ 15 / 25 years Monthly/ Quarterly/ Semi/ Annually Rs 2,910 15% 25 50 years 50 65 years 0 18 years 18 25 years

Future amount Rs 800,000 Rs 1,500,000 Rs 2,000,000

Number of Monthly years payment 10 15 25 2,910 2,244 617

Quarterly Payment 12,042 9,393 2,6434

Semi Annually Payment 18,475 14,507 4,145

Annually Payment 39,402 31,527 9,400

As depicted the payments have flexible modes with the appropriate division between the years. The future amount that the parents are to the requirements of the universities semester fees. Under all packages certain universities of Pakistan and abroad come. The universities like NUST, FAST, LUMS,IBA, UET (Taxila and Lahore) and all the other in any part of the country are broadly covered in these packages. The payment modes and durations are set for convenience. The middle and in some cases upper middle class with disposable income of 100,000 can afford these prices. Price conscious approach has been implemented to enhance purchases and knowing the consumer psychology in Pakistan. FORTUNE Education insurance will ensure unique features so that educational objective of parents is achieved and it helps in strengthening your childs dreams.

15 | P a g e

Promotion
Promotion is one of the four elements of marketing mix. It is the communication link between sellers and buyers for the purpose of influencing, informing, or persuading a potential buyer's purchasing decision. The following are two types of promotion: Above the line promotion: Promotion in mass media (e.g. TV, radio, newspapers, internet, mobile phones, and, historically, illustrated songs) in which the advertiser pays an advertising agency to place the advertisement Below the line promotion: All other promotion. Much of this is intended to be subtle enough for the consumer to be unaware that promotion is taking place. E.g. sponsorship, product placement, testimonials, sales promotion, merchandising, direct mail, personal selling, public relations, trade shows. The insurance companies around the globe follow a mix the ABL and BLL promotion strategy. Fortune Insurance will divide its promotional activity into tow portions to remain cost conscious. Considering Pakistani environment to create basic awareness of educational insurance the campaign will be done through teaser campaigns on radio and Internet .Since these mediums are cheaper as compare to TV and radio so basic information about the concept of educational insurance will be conveyed through the sources which cost less. Free Flyers,mailing, personal selling will be extensively used in this regard to make sure the minimal advertising cost is served while creating the basic awareness. TV, radio and newspaper advertisements will come into play when the company thinks that now its now time to grab the attention of the target group. TV is one of finest way of promotion but an expensive option to pursue so this medium should be optimally used to add consumer value to the company.

16 | P a g e

Placement
Fortune insurance will have its head office in Islamabad which will provide the coordination for all the other branches which will be initially opened in all provisional capitals including:

Lahore Karachi Quetta Peshawar

Since our target market is educated middle class so the service is primarily urbanized. Apart from these areas in the long run we will open branches in cities like Faisalabad, Multan; Sialkot which are highly populated areas .These branches will have structures according to the need of the particular area. These cities also have the highest number of universities and colleges so it is a favorable option to start with these areas. The literacy rate due to this is also higher as compare to the other urban areas.

17 | P a g e

Segmentation of Fortune Education Policy

18 | P a g e

Segmentation:
The process of dividing a potential market into distinct subsets of consumers and selecting one or more segments as a target market to be reached with a distinct marketing mix. A true market segment meets all of the following criteria: It is distinct from other segments (different segments have different needs). It is homogeneous within the segment (exhibits common needs). It responds similarly to a market stimulus, and it can be reached by a market intervention. The term is also used when consumers with identical product and service needs are divided up into groups so they can be served best. The people in a given segment are supposed to be similar in terms of criteria by which they are segmented and different from other segments in terms of these criteria. Market segmentation is resorted to for achieving certain practical purpose. For example, it has to be useful in developing and implementing effective and practical marketing programs. For this to happen, the segments arrived at must meet certain criteria such:Identifiable: The differentiating attributes of the segments must be measurable so that they can be identified. Accessible: The segments must be reachable through communication and Distribution channels. Sizeable: The segments should be sufficiently large to justify the resources required to target them. A very small segment may not serve commercial exploitation.

19 | P a g e

Measurable: The potential of the segments as well as the effect of a specific marketing mix on them should be measurable. Compatible: Segments must be compatible with firms resources and capabilities.

20 | P a g e

Bases of Segmentation:
Market segmentation is done on the following basis: Geographic Demographic Psychological Psychographic Socio cultural Use-Related Usage-Situation Benefit Sought Hybrid

Geographic segmentation: The division of a total potential market into smaller subgroups on the basis of geographic variables (e.g., region, state, or city) Demographics This is the study of the distribution, density and vital statistics of a population, and includes such characteristics as Sex Marital Status Age Income Education Occupation Size of family unit. Total income of family unit. Ethnic or religious background. Job classification (blue collar versus salaried or professional).

21 | P a g e

Psychological Segmentation: Psychological segmentation is based on Motivations, Personality, Perceptions, Learning, and Attitudes of the consumer. Psychographic Segmentation: Also known as Lifestyle Analysis. Psychographic variables include attitudes, interests, and opinions (AIOs) Socio cultural Segmentation: Socio cultural segmentation encompasses factors like Family Life Cycle, Social Class, Culture, Subculture, and Cross-Culture Use-Related Segmentation: In user related segmentation the marketers focus on the following important factors prevailing in our society Rate of Usage Heavy vs. Light

Awareness Status Aware vs. Unaware

Brand Loyalty Brand Loyal vs. Brand Switchers

Usage-Situation Segmentation: Segmenting on the basis of special occasions or situations e.g. valentine day. Benefit Segmentation: Segmenting on the basis of the most important and meaningful benefit e.g. band aid.

22 | P a g e

Hybrid Segmentation: Hybrid segmentation means the combination of two or more segmentation. There are products that dont fit under a single segmentation head .That is where hybrid segmentation is used for products covering more than one aspect of consumer segmentation.

23 | P a g e

Segmentation of Fortune Education Insurance:

Our insurance policy is being segmented on the hybrid segmentation. Fortune education insurance is a hybrid of the following segmentations: 1. Demographic Segmentation. 2. Psycographic Segmentation. 3. Geographic Segmentation.

DEMOGRAPHIC SEGMENTATION: Demographics consists of dividing the market into groups based on variables such as age, gender family size, income, occupation, education, religion, race and nationality. Demographic segmentation variables are amongst the most popular bases for segmenting customer groups. This is partly because customer wants are closely linked to variables such as income and age. Also, for practical reasons, there is often much more data available to help with the demographic segmentation process. The reason for picking demographic segmentation is that it revolves around income level, occupation and job classification etc of the consumer. FORTUNE insurance policy is serving the middle class people of the society. The main demographic segmentation of our education insurance policy is given below: Age: Consumer needs and wants change with age although they may still wish to consumer the same types of product. So we designed and promote our service differently to meet the wants of different age groups. Income: Another popular basis for segmentation. Many companies target affluent consumers with luxury goods and convenience services. Fortune education insurance target customers are
24 | P a g e

those people who have an income bracket of minimum 30,000 per month. So in order words we can say that the target consumer should have the disposal income of 100,000 rupees per annum. Job classification: The job classification basically differentiates consumer on the basis of the following factors: Blue collared consumer. Salaried or professional people. White collared people: White collared people are the officers working for any organization. Salaried or professional people: Professional are those who are working at a high salary and are being paid a handsome amount for their work

Basic Background: The consumer being targeted under this head is mainly the working class people. These people normally are more family oriented and are not a part of the hi-fi crowd of the society. The targeted consumer is has an ethnic and religious background as well. They have deep roots when it comes to cultural background. Marital Status: The marital status of the consumer is evidently married, since it is an educational insurance policy to ensure the safe and a sound academic future of your child. Occupation: As described earlier the targeted consumer is a hard core working class or as we call them the 9-5 job people. Keeping in mind the min salary bracket written above the consumer should be at working as a grade 17. Social class We believe that a consumer "perceived" social class influences their purchase power. So to cope up with that we have placed our insurance plan that is targeting to the middle class family.

25 | P a g e

GEOGRAPHIC SEGMENTATION: The vision for any business or initiative is always associated with profit and growth. To enhance the possibilities of both these much desired end results, the approach has to be segment specific and focused on the targeted market. According to the volume of business and the target market, it becomes necessary for us identify specific zones and market requirements for our insurance plan.

Population Density: Segmentation on the basis of population density such as urban, sub-urban, rural etc.The main target consumer of FORTUNE insurance are the inhabitants of urban society. Region: People in one area might reflect similar characteristics; it is one way of evaluation human behavior based on common factors. People living in a particular area and territory might show some similar personality traits and common interests. Same is the case here people living in the well-known cites or rather the capital cities of Punjab ,Sindh ,Kyber Pakhtoon Kha are the core target consumer for our product. Reason behind that they are living in such an environment (society) that it is comparatively easier to break through them. Urban Areas: People living in a city, they face almost similar problems every day; they are part of similar occasions, celebrations, and events. So this influences the characteristics to reflect in a similar pattern. Geographic priorities also depend on the brands. In some area one brand might be very popular and famous. But in other areas it is quite possible people like different brands. Quite similar is the scenario here. City people are more adaptive to the insurance plans because they know that they live in a city is in a hassle and bustle kind of situation always. The city life is more exposed and technically equipped which does bring convenience but at the same time a lot of unfortunate accidents .Every second day we see a road accident, car smashed badly people dead. Thus conforming that the value of a human life is almost negligible and any unfortunate accidents can lead them to misery. So eventually the main target of our service id the urban areas. People who want to leave a secure life for their children so that the child is do not suffer academically.
26 | P a g e

Size: Segmentation on the basis of size of a metropolitan area as per its population size. Our insurance policy will be targeting the well known and popular cities of the country like Karachi, Lahore, Islamabad, Faisalabad and Peshawar. Reason behind that they are living in such an environment (society) that it is comparatively easier to break through them. And along with that, we aim to hit the masses, which live in these cities mainly. Psychographic Segmentation: Psychographic Segmentation groups customers according to their life-style and buying psychology. The purchase of FORTUNE Insurance is based on the attitudes, beliefs and emotions of their target market. The desire for need, enhanced educational finance security is example of psychographic variables. These are the factors that influence our customers' in the investing decision. A Psychographic Segmentation includes variables such as:Interests: To learn deeply the interest of the consumer. People in a country, they show some similar characteristics, they speak same language, the religion might be similar, they might wear specific design and quality of cloths, they might have similar likes and dislikes. They might show attraction towards some specific food or taste, they ideological sense can be similar to some extent because of living in a specific region. So eventually the main target of our service id the urban areas, keeping in mind the above discussed factors. They are the people who normally dont like to take risks .They want to make sure that what so ever they do, they have a strong grip over it.

Opinions: The opinions that consumers hold and the activities they engage in will have a huge impact on the products they buy and need to be aware of any changes. Like the growth of demand for organic foods or products environmentally friendly. Its an opinion that the consumer has developed regarding the product.
27 | P a g e

What FEI is trying to do is they want to infuse their customers minds with the opinion that it is a necessary item that you need in order to give way to your childs future. The target consumer for FEI is the one who knows the importance of the insurance plan and believes that the policy can do wonders in order to pursue the childs dreams. Attitudes The core target markets for FEI are those people who dont like to take risks in life. The consumer, who is aware of the fact that we live in a world of uncertainty, where anything can be expected anytime. Even in Maslows second tier. Security is their main concern. For people who are sustenance-driven, the world can be dark and forbidding place and they secure themselves against it. Consumer, who want to prepare and embrace themselves and want a backup plan before they are hit by any unfortunate mishap,. People who think more on a long term basis.

28 | P a g e

Brand Image & Brand Personality

29 | P a g e

BRAND IMAGE:
The brand image is the perception that a certain product or service develops in the mind of the people. The brand perception of all the insurance plan or policy is some way the same i.e. to provide the security against any unfortunate accidents in life. Same is the case in FORTUNE education insurance. The color scheme being used in the print ad combination of yellow, white and green (in the logo as well) delivers a very warm, relaxed and pure image of the company. Making certain that you are in safe and reliable hands.

BRAND PERSONALITY
Personality is linked to how consumers make their choices or to consumption of a broad product category - not a specific brand Verbalizer: The term cognitive style refers to a psychological dimension that describes the distinctive and observable ways in which individuals process information. FEI followers are more going to be the verbalizer, as they would require a lot of information before investing in the policy. Social character: Social character of consumer ranges on a continuum for inner-directedness to otherdirectedness.in case of our service the social character of the consumer is more Inner-directed. Inner-directedness : These consumer rely on own values specially when evaluating products. They are considered to be Innovators when it comes in making any purchase decision which is going to be the ultimate catch to get our service acceptable in the market.

30 | P a g e

Need for cognition (NC): Individual with high NC more likely to respond to ads rich in product information. Need for cognition has been defined as the intrinsic motivation to engage in problem solving activities. Results provide support for the notion that higher need for cognition subjects process ads longer and have superior recall for brands and claims. BRAND PERSONALITY Keeping in mind the brand personality framework the brand personality is of the following types: Sincerity Excitement Competence Sophistication Ruggedness

Fortune insurance policy mainly comes under the head of sincerity and competence. The main reason behind any insurance policy in general is to provide the customer the support in his or her bad times. Thus assuring them to provide the best of the service back to the consumer in sincerity with which they have invested in your product. Thus FEI shows its commitment to the customer by making them feel that they have invested in a reliable sector, which will be eventually be seen by them as they are using their money intelligently to lock a successful academic career for their child.

31 | P a g e

Target Market of Fortune Education Insurance Policy

32 | P a g e

Target Market
The basic definition of the target market is A set of buyers sharing common needs or characteristics that the company decides to serve. The process of target market is as follow:

The target market of the Fortune Education insurance policy is clearly described in the segmentation segment. Lets divide this part according to the segmentation segments. Target Market in terms of Geographic segmentation Target Market in terms of Demographic Segmentation Target Market in terms of Psychographic Segmentation

Target Market in terms of Geographic Segmentation:

Geographically Pakistan is located in the heart of great nations; it has a very important strategic position in the South Asia region. It has four provinces; Punjab, KheyberPakhtonkhaw, Sindh &Balochistan. The majority of southern Pakistan's population lives along the Indus River. Karachi is the most populous city in Pakistan. In the northern half, most of the population lives about an arc formed by the cities of Faisalabad, Lahore, Rawalpindi, Islamabad, Gujranwala, Sialkot, Nowshera, Swabi, Mardan and Peshawar. It means that the target market of the Fortune Insurance policy exists in the major cities of Pakistan like; Islamabad, Rawalpindi, Lahore, Karachi etc.

33 | P a g e

Target Market in terms of Demographic Segmentation:

Pakistan is the country with population of 187 million, its major population segments lives in its rural areas and less than half of its population lives in the urban areas. We are targeting the child age group of 0- 18years, with their parent age group at the start of the policy 25- 50years. According to the report of ministry of population Pakistan, the age group of 0- 14 years constitutes the 36.7% of the population of Pakistan and the age group of 15- 64years constitutes around 60% of the overall population of the country. If you will look at the Fortune education policy document we have mentioned our criteria which suits best with the demographics of Pakistan. The major part of the demographics is the income bracket of the people. Fortune policy is basically for the people who have a disposable income of Rs 100,000 per anum or a monthly salary of Rs 20,000 to Rs 45,000. Our packages our very simple, it is for those parents which were worried for the studies of their children, you will see that by paying Rs 617 every month you will get you child admission in good universities of the country. Due to the last few years due to the increase in the inflation the poverty in Pakistan increased which further increases the fears and worries of the parents regarding their children education. Profession or Occupation matters a lot in the demographic segmentation, Fortune Education Policy is especially for the government officers, supervisors, retired officers, homemakers and for farmers. Because we think that they lie in the above mentioned income bracket.

34 | P a g e

Target Market in terms of Psychographic Segmentation:

Psychographic segmentation is explained in detail in the segmentation segment, now for targeting purpose three main points of psychographic segmentation is necessary; Social Class Life style AIOs

Fortune educational policy is targeting the middle class families and somehow catering the lower middle class families. Families belonging to the middle class segment in which parents are somehow educated than they will understand the concept and the need of the education insurance policy for the bright future of their child. If parents know about the importance of the education and they have limited resources for their child education than Fortune education is the only solution for the bright career of their childs future. Targeting the attitude of the consumer is very important, Fortune education insurance policy will grab the attention of those customers who thinks that they are living in the world of uncertainty and no one knows what will happen after a minute or a second. Fortune education policy will also attract the attention of those people which are highly involved or interested in the education segments, because they will judge that at very minimal interest rate offering such a huge amount is not an easy job.

FORTUNE EDUCATION POLICY

35 | P a g e

Motivations

36 | P a g e

Rational Motivation
Rationality implies that consumers select goals based on totally objective criteria such as size, weight, price, or miles per gallon. The most rational decision for the parents would be to buy this policy because at various stages of life you need financial resources to continue the childs education. Raising fee structures of universities will indeed require some planning on the parents part. The Universities covered under the plan include almost all the major and good ones in Pakistan so the parents will have the assurity that their child will be educated to standard. The payment structure is made according to income level of the middle class which makes the plan cost effective. One of the most critical things in a Pakistani environment is life security. A parent is always conscious of the fact the will happen if He / she are longer there for the family. Under the terms and conditions all this will be given lump sum premium immediately to cover the educational costs.

37 | P a g e

Emotional Motivations
Emotional motives imply the selection of goals according to personal or subjective criteria. For any middle class parent providing quality education to a child is like dream and for that purpose he/ she works till the last. Our plan will make sure that child gets what the parent want. In case of disability or death of one or both the parents the school fees and tuition of his children will be handled without difficulty by the insurance policy. Now this is a emotional way of motivating your customer. Education is the matter of pride and honor for any mid Yorker family with educational background so our plan provides opportunity to implement the step required to get the honor.

38 | P a g e

Positioning Of Fortune Education Insurance Policy

39 | P a g e

Positioning
Positioning is a key to build the brand image and in the long run brand equity. The psychological connection is hard to develop especially for a new brand. Positioning is on the competitive advantage of the product/ service.

Brand image will be built on the core competence that we are first pure education insurance company with no other agenda other than to educate. The rational and emotional motivations together will be applied to attract the target market. Our brand will image itself as policy which provides endless journey to education as well as secure Educational future as per our promotions. The target audience middle class which are divided in one social class with similar lifestyles will be targeted to their strengths which is education of future generation to earn by education. The middle class is always tentative about the future of their children so this psychological factor will be heavily considered. The concept of insurance is not new as we have been going through the bubble of car insurance from 2001 and it has been adopted .So our company will work on the education insurance in particular. State life insurance and leasing have been successful in the past so we do have psychological connection of insurance and middle class of Pakistan. Quality and a standard education has always been a priority for the parents so our plan covers high and middle class universities which ensure the satisfaction of required criteria. Cost is a critical issue for middle class for this purpose the payments are according to the income level of middle class. Different ranges and periods of payments are for the convenience of the parents. Promotional activity is designed to make sure that we create the basic awareness first and then move on the grabbing the attention of the target market.

40 | P a g e

Education is mostly linked with the middle class parents with the healthy life and social status of their children so this psychological factor will enhance the social connection with our insurance policy other than the professional one.

41 | P a g e

Sample Document of Fortune Education Insurance Policy

42 | P a g e

43 | P a g e