...Pre-Seminar Assignment: ISEG section: 2B Topic: A new insurance company that sells auto/home/small commercial insurance * Competitive Analysis #1: * Name of service: Property and Casualty Insurances * Parent company: Nationwide Insurance Company * 2 or 3 key features of service: Example of a car insurance Personal Belongings covered under a certain amount, 24 hour claim service , replacement car * Estimated age and gender of the target audience: From 16 to 99 years old, it’s a large target * Tag line / Strap line / Slogan of the product: They changed their tagline from “Life comes at you fast” to “Nationwide is on Your Side” in 2009 * Where the product is advertised (which publications, web, literature, etc.) The products are advertised mainly in TV commercial, that you can also see on their website. They also communicate through social media like Facebook, Twitter etc… You can have bad press on it, for example they took off the ads which were next to a commercial against female violence. It leaded to an outcry. * What do you think are the strengths and weaknesses of their advertising (short statement)? Their strength is the fact that they want to be closer with this advertisement, first by the slogan which want to gather people in a way of trust, further in the different TV commercials because we can see different kind of people to reach more targets. They play on a humoristic ton and that’s why they’re different comparing...
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...JOHNSON & WALES UNIVERSITY Providence, Rhode Island ENVIRONMENTAL ANALYSIS: Automobile insurance Industry Course: MGMT 6800 Yimeng Zhang October 4, 2014 Automobile insurance Industry- Environmental Analysis The motor vehicle insurance, refers to a kind of commercial insurance that offer liable for compensation to life or personal injury or property damage caused by motor vehicles due to natural disasters or accidents. Car insurance is a kind of property insurance. In the field of property insurance, motor insurance belongs to the young categories of insurance. This is because the car insurance comes and develops with the emergence and popularity of the car and. 1. Strategically Relevant Factors in the Macro-Environment-PESTEL Analysis PESTEL analysis focuses on the six principal components of strategic significance in the macro-environment: political factors, economic conditions, sociocultural forces, technological factors, (natural) environmental forces, and legal/regulatory factors. These are the significance factors of one industry varies and management will focus primarily on those with the greatest effect on their company. The most important factor in the vehicle insurance industry is Economic Factors. a. Political and legal factors The Automobile Insurance industry does not receive any direct assistance from the federal government in the form of tariffs. However, the National Association of Insurance Commissioners (NAIC) provides a forum...
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...The split of Insurance Products and Services in the Market Place E-1600 Economics of Business Professor R. Wayland Authors Steven Washburn Glenn Tam Derio Chan Anupam Raman Robert Rothschild Varun Malhotra Tiffany Hart December 9, 2014 Hypothesis On several levels, the Internet and related advances in technology have significantly affected financial services broadly, and insurance markets more specifically. When combined with globalization and regulatory reform, these advances have forced the insurance industry to become more competitive. We will discuss here specifically the split or disruption in the insurance business with a focus on the auto insurance product and less complex personal insurance products. These two products are on a trajectory to become fully commoditized with little or no agency interaction within 30 years. To the extent that the Internet reduces transaction costs, it also creates opportunities for new intermediaries as well as existing ones. It also has a natural influence on product design. For example - in some cases it is economically attractive to unbundle and repackage various forms of coverage. We will discuss this further in reference to driverless cars and bundling the insurance with the product later in the paper. This paper is organized in the following manner. First, we will briefly look at internet trends as the introduction. Next we will summarize the traditional insurance business, and the reduction of transaction...
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...Celebrity Endorsements According to David Lamoureux, the average consumer sees 3000 to 20000 forms of advertisement a day (2004). One of the most frequent and successful forms of advertisement in this day and age is the use of celebrity endorsement (Gnanapragash, et al, 2004). Celebrity endorsement is the use of famous individuals who demand a high level of respect, trust, recognition and awareness globally or nationally. Such people lend their name and image to promote a product or service (Elberse, Anita, and Jeroen Verleun, 2012). Although the literature covers many theories as to why we use celebrity endorsements, this review will focus on three main themes which are constantly mentioned in the literature. These themes are: Determinants of Celebrity endorsement, reasons for increased usage of celebrity endorsements, advantages and disadvantages of this approach as a brand building strategy. The paper will primarily focus on endorsements as a brand building strategy even though the literature presents these themes in a variety of context. 2. Determinants of Celebrity Endorsement A celebrity endorser is “an individual who enjoys public recognition and who uses this recognition on behalf of a consumer good by appearing with it in an advertisement” (McCracken, 1989, page 310). Friedman and Friedman state that “a celebrity endorser is an individual who is known to the public for his or her achievement in areas others than of the product class endorsed” (Friedman...
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...Geico: Successful Marketing Case Study Miranda Furstoss MBA-FP6012 – Integrated Global Marketing Assessment 5 June 29, 2015 Geico: Successful Marketing Case Study Abstract Geico is an insurance company who writes multiple lines of insurance, yet focuses on the auto insurance segment of the industry. They excel in marketing to their target audience which is what makes them an excellent organization for a marketing case study. Their marketing efforts propeled them from the small direct-marketing company they began as to one of the leading auto premium writers in the United States today. By reviewing the marketing system and efforts of Geico, it is easily seen how the right marketing tools and strategies in place can prove successful for any organization. Company Overview Geico is an insurance company founded by Leo Goodwin in 1936 that began as a carrier for the select market of military and government personnel, but later expanded to offer services to everyone (Geico, n.d.a). Goodwin had a vision to create a successful auto insurance business by targeting such a specific group, and he certainly succeeded. Since ending their first year with 3,700 auto policies, they now have more than 13 million policies in force and are still going strong (Geico, n.d.a). In fact, the growth from its meager beginning to now has risen it to the second position of persinal auto insurers in the United States, a nice position in such a competitive market (Das, 2014). They are well-known...
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...Assignment 1: You are an Entrepreneur! Over the last century, convenience stores have provided a thriving service to local neighborhoods and community. Typically, corner stores are defined as neighborhoods retail shops that specialize in a limited selection of merchandise, such as milk, bread and other household necessities. Convenience stores are largely a cash based business conveniently located for quick in and out shopping and can be operated by one clerk. The consumer usually requires the services and products that the corner store offers on a daily, weekly or bi weekly basis. Corner stores provide quick checkout times, extended hours of business and very convenient locations. Convenient stores are considered mature industry and it is one of the powerful growing retail stores in United States of America. To serve the customers and give them a great customer service with convenient merchandise and product and also generate greater revenue is the main focus of EZ convenient store. EZ LLC convenient store recognized a need for a store in the area after a community need. I conducted a resident’s survey asking about the need for a convenient store and the idea was overwhelmingly supported by the community. There are no such stores within two mile radius and the target market includes local resident both on and off reserve. EZ convenient store is looking for LLC members who have extensive retail experience in both grocery and sundry sales and have identified primary categories...
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...Chapter 1 – An Introduction to Consumer Behaviour What is Consumer Behaviour? * The study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires * An ongoing process * Exchange – 2+ people giving and receiving something of value = an integral part of marketing Consumers’ Impact on Marketing Strategy * Consumers’ needs can be satisfied to the extent that marketers understand the people/orgs that will use what they are trying to sell – better than the competitors * Consumer response is the test of whether a marketing strategy will exceed – knowledge about consumers is important Segmenting Consumers * Marketing segmentation – identifies groups of consumers who are similar to one another in 1+ ways and then devises marketing strategies to appeal to 1+ of these groups * Demographics – measure observable aspects – age, gender, family structure/life stage, social class/income, ethnicity * Psychographics – measure consumers’ personalities, attitudes, values, lifestyles Marketing’s Impact on Consumers * Relationship marketing – making an effort to interact with customers on a regular basis, giving them reasons to maintain a bond with company * Ex: restaurant sending a birthday coupon to consumer every year * Popular culture – music, movies, books, sports, celebs, consumed by mass market – a product of and inspiration for marketers ...
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...www.hbr.org Some companies have built their very businesses on their ability to collect, analyze, and act on data. Every company can learn from what these firms do. Competing on Analytics by Thomas H. Davenport Reprint R0601H Some companies have built their very businesses on their ability to collect, analyze, and act on data. Every company can learn from what these firms do. Competing on Analytics COPYRIGHT © 2005 HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION. ALL RIGHTS RESERVED. by Thomas H. Davenport We all know the power of the killer app. Over the years, groundbreaking systems from companies such as American Airlines (electronic reservations), Otis Elevator (predictive maintenance), and American Hospital Supply (online ordering) have dramatically boosted their creators’ revenues and reputations. These heralded—and coveted—applications amassed and applied data in ways that upended customer expectations and optimized operations to unprecedented degrees. They transformed technology from a supporting tool into a strategic weapon. Companies questing for killer apps generally focus all their firepower on the one area that promises to create the greatest competitive advantage. But a new breed of company is upping the stakes. Organizations such as Amazon, Harrah’s, Capital One, and the Boston Red Sox have dominated their fields by deploying industrial-strength analytics across a wide variety of activities. In essence, they are transforming their organizations into armies...
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...CONTENTS Introduction Part One: Foundations Chapter One: Introduction to Advertising 1 Chapter Two: Advertising’s Role in Marketing 34 Chapter Three: Advertising and Society 68 Part Two: Planning and Strategy Chapter Four: How Advertising Works 103 Chapter Five: The Consumer Audience 135 Chapter Six: Strategic Research 169 Chapter Seven: Strategic Planning 205 Part Three: Effective Advertising Media Chapter Eight: Print and Out-of-Home Media 239 Chapter Nine: Broadcast Media 274 Chapter Ten: Interactive and Alternative Media 310 Chapter Eleven: Media Planning and Buying 345 Part Four: Effective Advertising Messages Chapter Twelve: The Creative Side and Message Strategy 378 Chapter Thirteen: Copywriting 411 Chapter Fourteen: Design and Production 443 Part Five: Integration and Evaluation Chapter Fifteen: Direct Response 476 Chapter Sixteen: Sales Promotion, Events, and Sponsorships 508 Chapter Seventeen: Public Relations 542 Chapter Eighteen: Special Advertising Situations 576 Chapter Nineteen: Evaluation of Effectiveness 610 INTRODUCTION Welcome to the Test Item File for the Wells/Moriarty/Burnett Advertising: Principles and Practice, 7th edition text. This test bank was designed with the student and instructor in mind. All questions in this manual are drawn directly from the master text. APPLICATION QUESTIONS: New to the seventh edition of the Test Item File is a section...
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...C H A P T E R The External Environment 4 The Environmental Domain Task Environment • General Environment • International Context Environmental Uncertainty Simple-Complex Dimension • Stable-Unstable Dimension • Framework Adapting to Environmental Uncertainty Positions and Departments • Buffering and Boundary Spanning • Differentiation and Integration • Organic Versus Mechanistic Management Processes • Planning and Forecasting Resource Dependence Controlling Environmental Resources Establishing Interorganizational Linkages • Controlling the Environmental Domain • Organization-Environment Integrative Framework Chapter Four The External Environment 53 M any companies are surprised by changes in the external environment. Perhaps the greatest tumult for today’s organizations has been created by the rapid expansion of e-commerce. For example, Amazon.com was ringing up on-line book sales for more than a year before managers at Barnes & Noble even began thinking about a Web site. Barnes & Noble was highly successful with its book superstore concept, but its early efforts in e-commerce were marked by costly mistakes and missed opportunities. Even though the company burned through $100 million in an effort to “crush Amazon,” Barnesandnoble.com was still selling only 15 percent of books bought online compared to Amazon’s 75 percent.1 Firms in every industry, from auto manufacturing to telecommlunications, face similar uncertainty. Many factors in the external environment...
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...are brought to you by Zurich HelpPoint as part of the Managing Risk Series. Zurich neither endorses nor rejects the information presented in the article. We do not guarantee the accuracy of this information or any results and further assume no liability in connection with this publication including any information or methods contained herein. Competing on Analytics The Idea in Brief It’s virtually impossible to differentiate yourself from competitors based on products alone. Your rivals sell offerings similar to yours. And thanks to cheap offshore labor, you’re hard-pressed to beat overseas competitors on product cost. How to pull ahead of the pack? Become an analytics competitor: Use sophisticated data-collection technology and analysis to wring every last drop of value from all your business processes. With analytics, you discern not only what your customers want but also how much they’re willing to pay and what keeps them loyal. You look beyond compensation costs to calculate your workforce’s exact contribution to your bottom line. And you don’t just track existing inventories; you also predict and prevent future inventory problems. Analytics competitors seize the lead in their fields. Capital One’s analytics initiative, for example, has spurred at least 20% growth in earnings per share every year since the company went public. Make analytics part of your overarching competitive strategy, and push it down to decision makers at every level. You’ll arm your employees with...
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...Text Control Marketing Plan Alison Schindelar John Gilley Mark Aswall Latoya Davis Orin Howard May 5, 2014 Mission TextControl is an innovative product that strives for safety in automobiles. By keeping lives safe while driving, the product aims to decrease the amount of distraction on the road for everyday drives by locking cell phones once placed in a docking station. Product Description TextControl is a docking system that locks the driver’s cell phone once it is placed into the device, which will prohibit any hand use while driving. The device connects to the automobile’s cigarette lighter and charges the phone while placed in the dock. The docking system will not ban the driver from using Bluetooth or voice to text features as these features will still be fully functional while driving. Value Proposition ------------------------------------------------- Product Target Customers Key Benefits ------------------------------------------------- TextControl Insurance Companies Reduced accidents caused by cell phone distraction ------------------------------------------------- Value Proposition ------------------------------------------------- No distractions, just safe driving Macro-environments The macro-environment refers to the external factors, which affect a company's planning and performance, and are beyond its control. There are several factors to consider regarding TextControl, which can affect...
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...Marketing Management 14 PHILIP KOTLER Northwestern University KEVIN LANE KELLER Dartmouth College Prentice Hall Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editorial Director: Sally Yagan Editor in Chief: Eric Svendsen Executive Editor: Melissa Sabella Development Editor: Elisa Adams Director of Editorial Services: Ashley Santora Editorial Project Manager: Kierra Bloom Editorial Assistant: Elizabeth Scarpa Director of Marketing: Patrice Lumuba Jones Senior Marketing Manager: Anne Fahlgren Senior Managing Editor: Judy Leale Production Project Manager: Ann Pulido Senior Operations Supervisor: Arnold Vila Creative Director: John Christiano Senior Art Director: Blair Brown Text and Cover Designer: Blair Brown Lead Media Project Manager: Lisa Rinaldi Editorial Media Project Manager: Denise Vaughn Full-Service Project Management: Sharon Anderson/BookMasters, Inc. Composition: Integra Printer/Binder: Courier/Kendallville Cover Printer: Lehigh-Phoenix Color/Hagerstown Text Font: 9.5/11.5, Minion Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text. Copyright © 2012, 2009, 2006, 2003, 2000 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458. All...
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...Advertising, Promotion, and other aspects of Integrated Marketing Communications Terence A. Shimp University of South Carolina Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States Advertising, Promotion, & Other Aspects of Integrated Marketing Communications, 8e Terence A. Shimp Vice President of Editorial, Business: Jack W. Calhoun Vice President/Editor-in-Chief: Melissa S. Acuna Acquisitions Editor: Mike Roche Sr. Developmental Editor: Susanna C. Smart Marketing Manager: Mike Aliscad Content Project Manager: Corey Geissler Media Editor: John Rich Production Technology Analyst: Emily Gross Frontlist Buyer, Manufacturing: Diane Gibbons Production Service: PrePressPMG Sr. Art Director: Stacy Shirley Internal Designer: Chris Miller/cmiller design Cover Designer: Chris Miller/cmiller design Cover Image: Getty Images/The Image Bank Permission Aquistion Manager/Photo: Deanna Ettinger Permission Aquistion Manager/Text: Mardell Glinski Schultz © 2010, 2007 South-Western, Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means—graphic, electronic, or mechanical, including photocopying, recording, taping, Web distribution, information storage and retrieval systems, or in any other manner—except as may be permitted by the license terms herein. For product information and technology assistance, contact us at Cengage Learning Customer &...
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...harm or damage to _______________. Upon request, this document is to be immediately returned to _______________. ___________________ Signature ___________________ Name (typed or printed) ___________________ Date This is a business plan. It does not imply an offering of securities. 1. Executive Summary 5 2. Company Description 6 2.1. Mission and Objective 6 2.2. Management Team 7 2.3. Location and Geography 7 2.4. Development Stage 9 2.5. Product and Services 9 2.6. Financial Status 10 3. Management and Organizational Structure 11 3.1. Overview 11 3.2. Management Team Background 11 3.3. Human Resources Management 12 3.4. Training Program 13 4. Industry Analysis 13 4.1. Size and Growth Trends 13 4.2. Maturity of the Industry 14 4.3. Vulnerability to Economic Factors 14 4.4. Seasonal Factors 15 4.5. Technological Factors 15 4.6. Regulatory Issues 15 4.7. Supply and Distribution 15 4.8. Financial Considerations 16 5. Target Market 16 5.1. Demographics 16 5.2. Geographic 18 5.3. Lifestyles/Psychographics 19 5.4. Purchasing...
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