The main product for the company is car insurance. The company has a strong brand image and started its operations in 1929. BIG Company is considering launching of household insurance. To make this product successful the…
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Else it is only going to add to the problem of putting a product in the market which does not suit the customer and which nobody is willing to invest into. Hence primary surveys such as understanding the customer’s expectations, segmentation of the markets as per age and gender etc are required. Following tables indicate the findings of such surveys.
People within and outside the organizations are extremely crucial for the success of the product or service. Organization cannot afford to forget the people who make the product or the service happen in the market
1. Protection is offered for the structure, any non moveable items 2. It needs to cover the cost of rebuilding which is apart from the market value of the property. 3. The risks covered under the insurance policy could range from fire, explosion, theft, to social riots, earthquake, and landslides 4. Contents insured would be any moveable item which the insurer would take along with him. 5. Clear instructions on services provided along with after sales services.
Marketing and promotional activity will have to be aligned with the customer base that needs to be addressed. Home insurance industry should also take into account the state of economy while promoting the product. The promotions can happen through various media such as virtual and real. Direct marketing also features very predominantly in marketing and promoting home insurance.
Insurance companies these days deal not only with the in house sales staff but also through the people who are appointed as advisors. It is necessary that both these factors pay attention to the name and reputation of the company providing insurance. Along with efficiency they should also be trained to be customer friendly and supportive. These people should also be knowledgeable, compassionate and understanding.
The system of selling a home insurance policy and further servicing it should be based on clarity, honesty and transparency for the customer. There is
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A marketing concept embraces the philosophy that good marketing strategy always has the needs and wants of the target market in mind. Marketing concepts are formed as creative approaches to the problem of how to get a product needed and desired by a group of consumers to be selected and purchased by this group.
The Marketing Teacher (2000) cited Barwell to expound on the term by indicating that “the marketing concept is a philosophy, not a system of marketing or an organizational structure. It is founded on the belief that profitable sales and satisfactory returns on investment can only be achieved by identifying, anticipating and satisfying customer needs and desires” (Marketing Teacher, par.
Hence marketing becomes one of the most crucial aspects of a business. Kotler et al (2007:7) has defined market as ‘a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others’.
The guerilla marketing campaign of the T-Mobile company was run for five consecutive months by sponsoring near to 25 events in the local festivals, state, and county fairs. T-Mobile has very well comprehended the importance of such marketing initiatives for the company’s success by activating 5,000 new accounts at such events and organizing more than 26,000 “Mobile Makeovers” (Chipps 1).
This is because the objectives of the issues involved can have resemblance. Whether large or small, most marketers if not all, always struggle to meet customer requirements and at the same time meeting their own commercial and marketing objectives. The marketing planning process needs the harmonization of open- based decisions at the peak of the commercial level with more closely distinct actions at the bottom.
It is in this reason that the proponent of this paper tries to gather information about the basic concept of marketing and the probable impacts of internet on the dominant logic of marketing. Considering that the traditional-based marketing has