Allstate Motorcycle Insurance
Allstate Case Analysis
Cacey Lavin
March 9, 2012
What is a “traditional” society? A society based on historical customs, values, morals or beliefs that are handed down from generation to generation? Today’s society is a far cry from the comfort of tradition. It has evolved and is comprised of vastly different demographics, economics, social-cultural influences and household arrangements. Marketing must target these non-traditional sectors to be effective. This process can be challenging, but performing in-depth market research can help a company excel at their marketing efforts.
Slide 4-38 Marketing Metrics & Slide 3-20 Social-Cultural Environment Allstate’s attempt to gain the insurance business of motorcyclists has required them to refocus their marketing metrics towards the potential non-conservative insurer. Marketing metrics are tools used by companies to evaluate their marketing tactics. By utilizing external marketing metrics such as awareness, relative price, market share, & consumer satisfaction, Allstate began to take an initiative to determine why they were behind the nation’s leader Progressive and other insurance companies in this category. Allstate used metrics to analyze their stagnant motorcycle insurance policy underwritings against increasing national motorcycle sales. Allstate’s analysis determined that the increase in national motorcycle sales were partially due to more women and baby boomers taking up riding. This awareness metric helped marketers understand the behavior of the consumer and study why they chose to behave that way. The social cultural environment molds the world in which we live and is responsible for how society’s beliefs, values & norms are shaped. (Kotler & Keller, 2009, p. 80) It speaks volumes of how people view themselves and others. In Allstate’s case, assessing the social-cultural tendencies of motorcycle riders was imperative. They needed to find out why motorcycle riding had
Cacey Lavin
March 9, 2012
What is a “traditional” society? A society based on historical customs, values, morals or beliefs that are handed down from generation to generation? Today’s society is a far cry from the comfort of tradition. It has evolved and is comprised of vastly different demographics, economics, social-cultural influences and household arrangements. Marketing must target these non-traditional sectors to be effective. This process can be challenging, but performing in-depth market research can help a company excel at their marketing efforts.
Slide 4-38 Marketing Metrics & Slide 3-20 Social-Cultural Environment Allstate’s attempt to gain the insurance business of motorcyclists has required them to refocus their marketing metrics towards the potential non-conservative insurer. Marketing metrics are tools used by companies to evaluate their marketing tactics. By utilizing external marketing metrics such as awareness, relative price, market share, & consumer satisfaction, Allstate began to take an initiative to determine why they were behind the nation’s leader Progressive and other insurance companies in this category. Allstate used metrics to analyze their stagnant motorcycle insurance policy underwritings against increasing national motorcycle sales. Allstate’s analysis determined that the increase in national motorcycle sales were partially due to more women and baby boomers taking up riding. This awareness metric helped marketers understand the behavior of the consumer and study why they chose to behave that way. The social cultural environment molds the world in which we live and is responsible for how society’s beliefs, values & norms are shaped. (Kotler & Keller, 2009, p. 80) It speaks volumes of how people view themselves and others. In Allstate’s case, assessing the social-cultural tendencies of motorcycle riders was imperative. They needed to find out why motorcycle riding had
References: Communications, J. (n.d.). Progressive gets to the heart of what makes motorcycles tick. Retrieved from www.erichopr.com/studies/progressive-motorcycle.pdf Crepeau, R. (2008, March 12). Allstate garage: Customize your motorcycle. Vanksen. Retrieved March 06, 2012, from http://www.vanksen.com/blog/allstate-garage-customize-your-motorcycle Dozier, B. (n.d.). Analysis of insurance advertisements. Barbra Dozier 's Blog. Retrieved March 06, 2012, from http://barbradozier.wordpress.com/2011/05/13/analysis-of-insurance-advertisements Elliott, S. (2008, April 14). Vroom-vroom for one more. New York Times. Retrieved from http://www.nytimes.com/2008/04/14/business/media/14adnewsletter.html Elliott, S. (2010, June 21). Allstate adds villain, with car insurance as the hero. New York Times. Retrieved from http://www.nytimes.com/2010/06/12/business/media/21adco.html Kotler, P., & Keller, K. L. (2009). Marketing management (13th ed.). Upper Saddle River, NJ: Pearson Prentice Hall.