Evaluation of Marketing Strategies of Nigerian Insurance
An evaluation of the marketing strategies of Nigerian insurance companies.
Abstract:
The apparent unclear performance of the Nigerian insurance industry, in addition to the dynamics in the insurance business environment, spurred the present research. Using a survey research methodology to investigate the marketing strategies utilized by Nigerian insurance companies to cope with the dynamics of the business environment in order to achieve set objectives, it was found that competition and clients ' behaviour towards insurance services had the highest impacts on the marketing strategies of Nigerian insurance companies. Additionally, it was found that the marketing strategies of market development, pricing based on what insurance clients can afford, and use of high-level public relations were the most emphasized strategies in the Nigerian insurance industry. These findings, along with other interesting findings, were discussed pertaining to the research problem, empirical and anecdotal evidence, and extant literature, in addition to their managerial and research implications.
Subject:
Marketing
Author:
Osuagwu, Linus
Pub Date:
07/01/2001
Publication:
Name: Academy of Marketing Studies Journal Publisher: The DreamCatchers Group, LLC Audience: Academic Format: Magazine/Journal Subject: Business, general Copyright: COPYRIGHT 2001 The DreamCatchers Group, LLC ISSN: 1095-6298
Issue:
Date: July, 2001 Source Volume: 5 Source Issue: 2
Topic:
Event Code: 200 Management dynamics Computer Subject: Company business management
Product:
Product Code: 9914000 Marketing
Accession Number:
208890531
Full Text:
INTRODUCTION
To achieve set organizational goals and objectives, companies conceptualize, design, and implement various strategies. These strategies can be corporate, business, or functional. Marketing strategies constitute one of the functional strategies amenable to application by contemporary companies in order to be efficient and effective.
Abstract:
The apparent unclear performance of the Nigerian insurance industry, in addition to the dynamics in the insurance business environment, spurred the present research. Using a survey research methodology to investigate the marketing strategies utilized by Nigerian insurance companies to cope with the dynamics of the business environment in order to achieve set objectives, it was found that competition and clients ' behaviour towards insurance services had the highest impacts on the marketing strategies of Nigerian insurance companies. Additionally, it was found that the marketing strategies of market development, pricing based on what insurance clients can afford, and use of high-level public relations were the most emphasized strategies in the Nigerian insurance industry. These findings, along with other interesting findings, were discussed pertaining to the research problem, empirical and anecdotal evidence, and extant literature, in addition to their managerial and research implications.
Subject:
Marketing
Author:
Osuagwu, Linus
Pub Date:
07/01/2001
Publication:
Name: Academy of Marketing Studies Journal Publisher: The DreamCatchers Group, LLC Audience: Academic Format: Magazine/Journal Subject: Business, general Copyright: COPYRIGHT 2001 The DreamCatchers Group, LLC ISSN: 1095-6298
Issue:
Date: July, 2001 Source Volume: 5 Source Issue: 2
Topic:
Event Code: 200 Management dynamics Computer Subject: Company business management
Product:
Product Code: 9914000 Marketing
Accession Number:
208890531
Full Text:
INTRODUCTION
To achieve set organizational goals and objectives, companies conceptualize, design, and implement various strategies. These strategies can be corporate, business, or functional. Marketing strategies constitute one of the functional strategies amenable to application by contemporary companies in order to be efficient and effective.
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