Customer-buying behavior focusing on market segmentation in the insurance sector

Type :

Term papers

Pages :

19 pages

Format :

.doc

Published date :

04/16/2009

Category :

Business & market

Sub category :

Marketing

Oboulo.com selection criteria

$ 19.95 Add to cart

Summary :

Executive summary
Introduction to the industry
1. Marketing of insurance
2. Marketing mix policies
Research methodology
1. Title
2. Objective
3. Scope of the study
4. Significance of the study
5. Research design
6. Facts/findings
Data analysis and interpretation
Recommendations
Conclusion
Bibliography

Abstract

insurance is in a manner of speaking the last frontier in the financial sector to open. It is also a sector, which leads to benefits across the full spectrum, from the individual who now have wider choices, to the economy, which see increased savings, to the infrastructure sector, which can look forward to long term funding being available. In an under-insured economy, newer channels of distribution have to be utilized to intensify the reach of insurance both in urban and rural markets. This will create huge employment opportunities not only within insurance companies but also as agents and consultants of insurance companies.

Different companies can choose to position themselves differently and hence the marketing Mix is different. However, there are certain common characteristics that one can cull out from the possible strategies that companies adopt.The development of flexible products to suit individual requirements is what will differentiate the winners from the also-rans. The key to success is in providing insurance solutions, not standardized insurance products. The concept of riders/optional benefits has already been a huge innovation brought about by the new players, which has led to customization of products for individual needs. However, companies may differentiate themselves on the basis of product segments that they choose to focus on and excel in.