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Marketing - Essay Example

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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 ... Read More
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