Motor Insurance is designed to cover loss of motor vehicle, accidental damages and motor third party liability. Every person is required by law Motor Traffic Act, No 14 of 1951 and its amendments required having a Motor Insurance Policy to use a motor vehicle on the road or where people have access ”(Thangakone,2001). The insurance policy must be in force and must fulfill the legal requirement. Motor insurance consist of following three basic covers: Comprehensive, third party only and third party Fire and Theft. There are four motor policies available under this category. Private Car Policy, Commercial Vehicle Policy, Motor Cycle Policy and Motor trade policies are categorize according to vehicle type. Private Vehicle Policy offers insurance …show more content…
People attracted to the products via sales representatives. Especially in insurance organization highly depend on sales representatives. The customer in insurance attracted by various sales representatives: “brokers agents and banking representatives” (Kavoos et al., 2014, p.75). Bowers (1999) study cited (cited in Zboja and James, 2006, p.39) defined Insurance views cross selling as “Capture the loyalty of their customers by meeting all of their financial needs” Therefore Insurance companies attract customers retain customers by putting effort on sales persons performance. Sales persons role in cross selling important not only in insurance industry but also telecommunication (Jarroszewicz, 2008), banking (Yasar and Neely, 2001), engineering, chemical industry (Schmitz, 2014), financial services, insurance, health care, accounting, airlines, and retailing” (Li, Sun and Montgomery, 2010). Most of the companies spend their resources to plan the cross selling strategy but fails to focus in implement and continue the strategy in right way. Sales persons are interact with their customers throughout the policy period at that time before cross sell, organization should understand the customer needs and wants. Then the company can provide the right product to the right customer (Li, Sun and Montgomery, 2010). Most of the company believes their 80% sales improve from 20% of customers (Jobber and Lancaster, 2009) therefore sales person and management should concern on profitable customer to cross sell. DeGabrielle (2007) study (cited in Schmits, Lee and Lilien, 2014, p.1) argued that “three quarters of the all cross selling initiatives fails. Lack of investigation will turn the cross selling unsuccessful strategy (Bansal and Bhatia,
Nowadays, having insurance is a ‘nice thing’ to carry in case of emergency. In the U.S, most people should have at least one type of insurance. As for auto insurance, the law requires drivers to carry insurance when driving. Because of this need, the constant demand for having insurance drives many firms competing in this saturated market. In this analysis, the focus attempts to show GEICO Insurance promotional strategy in communicating its products and services to the market and identifies the effective ways in growing the brand-awareness.
As the salespeople’s immediate supervisor, it is the primary responsibility of the manager to provide proper training to enhance the salespersons’ effectiveness and improve their skills. Given the importance of having a productive and enthusiastic sales team, the manager needs to develop and manage effective reward and compensation packages to ensure a highly motivated and satisfied sales force. Sales managers also ensure that the company 's standards of professionalism, image, and branding are consistent with the sales team’s interaction with company customers. The manager 's presence also makes customers feel valued as well as provide credibility on behalf of the company (Pilling, Donthu, & Henson,
After the housing bubble burst, everyone involved in the process was subject to severe criticism. From the realtors to the land title insurance agents to the banks, the housing industry underwent a major overhaul. In order to make sure that what happened less than a decade ago doesn’t happen again with the same veracity, the American Land Title Association (ALTA), which guides the conduct of land title insurance agents, published a “Best Practices” manual. ALTA seeks to guide its membership on best practices to protect consumers and to meet legal and market requirements. This paper will lay out the best practices used by ALTA for title insurance and settlement.
Allstate insurance is the second largest property and casualty insurance company by premiums in the United States. Allstate insurance handles about 12% of the U.S home and auto insurance market. (Allstate, 2014). Many of Allstate’s customers fall under what one could refer to as a traditional selection of insurance for automobiles. Recently, Allstate has noticed a major shortcoming in lifestyle insurance, which includes coverage for motorcycles, boats, and other recreational vehicles, in comparison to its competitors. The motorcycle insurance sector is a 10.4 billion dollar industry and growing (PRWEB, 2012). The U.S. Department of Transportation website reports some astounding figures, including that 5,370,035 motorcycles were registered three years before the article, 7,138,476 motorcycles registered at the time of the article, and grew to 9,477,243 registered motorcycles at the end of 2012 (NHTSA, 2013). It is obvious as to why Allstate would identify motorcycle insurance as a worthy lifestyle product to devote marketing research dollars into in order to develop new strategies for cornering a share of the market.
The mechanics of Fifth Gear Automotive auto repair shops Lewisville, TX want driving your vehicle to be a safe experience. Read on to learn how to improve your vehicle safety. Automobile accidents are a risk associated with driving. The leading cause of accidents is impaired drivers due to texting, alcohol, and drug use of both legal and illegal kind.
The Insured was found to be a 56-year old Hispanic male, 5’09” in height, weighing 185 pounds, with brown eyes, black hair and wearing a goatee. He wore a white long-sleeved shirt, khaki pants, black leather opened toe men’s sandals and a tan cap. The Insured wore prescription eyeglasses for reading and stated he was right hand dominant. His complexion was pale and his muscle tone appeared to be below that which would be considered average.
Car insurance is a very important aspect of driving that all motor vehicle owners should look into. It is underutilised with only around 35% of all road users having had their motor vehicle/s insured. This leaves many drivers in financial debts as they are unable to pay, either the medical expenses due to a collision or the physical damage done to the vehicle, as they are not covered.
Car accidents are quite common in Chester, SC. Sometimes, these accidents are minor fender benders but in other cases, they can be serious and cause serious and life-threatening injuries. Car accidents involve people of all ages and genders and can occur at any time. The question is: if you are in a car accident, which party will pay for the damages that are incurred?
The conversion of online searchers or online customers into buyers by researching or marketing for customers through interaction, thereby simplifying the customers of consumer process of finding the products they wish to buy. Secondly, the increase in cross-sell by charming or pleasing the customers by upgrading the quality of the manufactured goods which is one of the factors that are not originally implemented and thirdly, creating successful relationship between customers.
Marketing is a very broad term, which encompasses all the activities that help businesses in identifying their customers and needs of their target market, utilising all the communication resources in order to target their target market, eventually persuading them to purchase the organisations products and services. It is much broader than the concept of selling, as selling just includes techniques of direct communication used to persuade the customers to buy the products and services of an organisation. In fact, sales are the integral part of marketing. Marketing also helps organisations to utilise all resources in an efficient way to gain customer satisfaction, which will eventually help in the growth of the company. While, on one hand, marketers tend to focus on the needs and preferences of the customers, they also need to keep a close eye on their competitors (Gillespie, 2010). Companies always look to beat down their competition with providing better products and/or services, or by providing less-expensive goods to the customers than their competitors, in order to achieve or maintain the leading position in the industry. The core focus of this paper is to identify and discuss the core aspects how managers could maintain the marketing activities of the organisation in the global context.
Knowing how to drive a car myself, I can’t expect an accident to occur. It just happens without your knowledge and sometimes without your fault too. It’s better to take precautions just in case such a thing happens. This will surely help you financially for the repairs of the vehicle.
According to this, it is obvious that the objective of marketing is to satisfy demand of customers by those ‘individual and organizational activities’ like promotion or pricing of goods, which are all just means to achieve that. Additionally, organizations could stand out from their competitors once they meet the needs of customers better than others. Thus, it can be said that the successful marketing is to provide competitive advantages for organizations by doing better in satisfying customers’ desires through products and other marketing activities.
KOHLI, N. & KAUR, J. 2011. SERVICES MARKETING - WINNING AND CREATING CUSTOMERS WITH SPECIAL REFERENCE TO ICICI BANK. Asia Pacific Journal of Research in Business Management, 2.
The decline in Profit margin in 2014 was because of their less revenue in the North American market where they make good margins with their larger vehicles as shown in Figure
As Peter Duckers has put it, "The ultimate aim of all business organisation is - to create a customer". These days, for most products and services, the market belongs to the buyer. The customers e...