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Marketing Mix In Insurance Sector

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Marketing Mix In Insurance Sector

  1. 1. PRESENTED BY:- AWNEESH CHAUHAN & LALMANI TRIPATHI Marketing Mix In Insurance Sector
  2. 2. 1.PRODUCT
  3. 3. 2.PRICE Morality – Death In A Particular Area. Interest Rate – Should Be Higher Comparison other investment. Expenses –Cost Of Processing, Agent Commission, Incentives.
  4. 4. 3. PLACE This component of the marketing mix is related to two important facets – Managing The Insurance Personnel  Locating A Branch. – factors – accessibility, availability, safety, civic amenities and facilities, parking facilities.
  5. 5. 4.PROMOTION Advertising through above the line media & below line. Social Media- facebook, Orkut, twetter etc. Incentive To Policyholders Publicity Word - Of - Mouth
  6. 6. 5.PEOPLE Strong relationships with intermediaries. Use Of IT For Efficiency. Training & development both at the staff and agent level.
  7. 7. 6. PROCESS The process should be customer friendly . The speed and accuracy of payment is of great importance. The processing method should be easy and convenient to the customers.  IT will help in servicing large no. of customers efficiently and bring down overheads.
  8. 8. 7. PHYSICAL EVIDENCE Physical evidence refers the total layout of office. Uses various intermediaries-UK, retailer like Marks & Spencer sells insurance products & RCM in India. used remote distribution channels such as telephone or internet so as to reach more customer. Ex- is UK insurer Direct Line. It relied on telephone sales and low pricing.

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