This website uses cookies to ensure you have the best experience. Learn more

Case Study On Progressive Insurance's Marketing Strategies

3711 words - 15 pages

I. Backgrounda. The Progressive StoryProgressive is a large company that started the business in 1937. Progressive employs more than 26,000 and its revenue as of 2004 was 1.04B. Progressive distributes its services through telephone, Internet and independent agents. Progressive conducts business in 48 states and the District of Columbia and has organized these 49 jurisdictions into six geographical regions. The Agency and the Direct Businesses are managed at the local level and have three General Managers, each responsible for two regions. The Claims business area has six General Managers responsible for one region each, with managers at the state level. Sales and Service (which includes Agency and Direct customer service, direct sales and claims loss reporting, among other services) is performed at six regional sites in Austin, Taxes; Cleveland, Ohio; Colorado Springs, Colorado; Phoenix, Arizona; Sacramento, California; and Tampa, Florida. The company relies heavily on technology and extensive data gathering and analysis to segment markets and price according to risk potential. The company has remained competitive by closely managing expenses and achieving operating efficiencies, and by refining its risk measurement and price segmentation skills. Superior customer service, claims adjusting and strong brand recognition are also important factors in the company's competitive strategy.b. Overview of ProductsPersonal Automobile is Progressive's primary insurance product. It provides coverage to individuals from basic liability to full coverage. This includes bodily injury, property damage, and physical damage caused by a collision. In addition, many states require policies to provide for first party personal injury protection, frequently referred to as no-fault coverage. Progressive offers personal automobiles insurance to nonstandard, standard and preferred customers. Nonstandard insurance is intended for drivers who because of their driving record, age or vehicle, represent a higher risk thru liability. Standard insurance is intended for drivers with one or two violations on their driving records but still do not show any reason to classify as a "high risk". Preferred insurance is designed for customers with a "clean" driving record. According to Progressive's financial report published in May, 2005, personal automobile insurance was 93% of written premiums for the twelve-month period ended December 31, 2004. Progressive's marketing strategy is focused around nonstandard auto insurance.Progressive offers nonstandard commercial automobile insurance to businesses that employ one or more nonstandard dangerous drivers. This target business segments include fleets of 12 or less vehicles. Progressive does not write insurance to businesses that are involved in hazardous operations or interstate commerce. Progressive also provides coverage for home insurance, personal watercraft, personal articles, such as jewelry, and umbrella liability protection.c....

Find Another Essay On Case study on Progressive Insurance's Marketing Strategies

Case Study Marketing: Independer.nl

7305 words - 29 pages This essay is about the application of the the Customer Equity Model for Independer.nl. It also covers the formulation of a CRM strategy based on this model.GROEPSOPDRACHT 3MARKETING MANAGEMENTCASE INDEPENDER.NLRotterdam, 14 mei 2003Studenten: Cindy Brouwerstudentnr. 119661e-mail adres cindy.brouwer@meespierson.comNico Geelhoedstudentnr. 274903e-mail adres nja.geelhoed@port.rotterdam.nlINHOUDSOPGAVE1PLAATS VAN INDEPENDER IN DE FINANCIËLE

Case Study: Swatch And The Global Watch Industry International Business, Repositioning Strategies, Marketing, Management Issues, And Recommendations For Growth

1734 words - 7 pages IntroductionThe Swatch Group had many early on successes due to repositioning strategies and a boost from acquisitions. On the surface, the Swatch Group was the world's leading manufacturer of watches in the late 1990's. They had 14 percent of the world market share and it appeared that gross sales and net profits were on the rise; however, under the covers, it was a much different story. Swatch was facing a myriad of issues that needed to be

Gillette Advertising Marketing Case Study

2246 words - 9 pages innovating and in some cases use promotions to increase sales and marketing to assure customer loyalty. The competition that took place between Shick and Gillette was not as bad as others because their battle was based on product innovation and not price competition. If this had been the case, both companies would had ended up losing money or reducing costs to the minimum, which could have turned into quality reduction. In some extent, the

Case Study on India

604 words - 3 pages The Islamic Republic of Afghanistan would like to seize this unique opportunity to work on a case study pertaining to the medical conditions and the health situation in the Republic of India (8°4' and 37°6' north latitude and 68°7' and 97°25' east longitude). Afghanistan is merely interested in studying this nation due to its close vicinity to Afghanistan and the omnipresence of this problem in the country. In India, since the pre-independence

Case Study On Kelloggs

3552 words - 14 pages investigating a change in its marketing it can consider four elements, these are known as the marketing mix or 4Ps:ProductPricePlacePromotionKellogg's concentrated on changing Special K through new variants. Special K was already a well established brand, its full potential had never been reached. Kellogg's introduced Special K Red Berries, Special K Peach and Apricot.Kellogg's Special K was more of a breakfast cereal. Kellogg's already knew that women

Case Study on Subway

2398 words - 10 pages Benjamin Scalzo Professor Rotchford Case Study At the age of seventeen, Fred Deluca decided to open a submarine sandwich shop as a way to help pay for his education of becoming a medical doctor. Dr. Peter Buck offered Fred a $1,000 loan and became his partner and 1965 the first Subway store was opened in Bridgeport, Connecticut. They learned through experience how to run a business, with the integrity of serving a high quality product, and

Case Study on Amazon.com

516 words - 2 pages Case Study On Amazon.comE-Commerce, or Electronic Commerce, is a general term for any type of business, or commercial transaction, that involves the transfer of information across the Internet. This covers a range of different types of businesses, from consumer-based retail sites like Amazon.com, through auction and music sites like eBay or MP3.com, to business exchanges trading goods or services between corporations. Electronic Commerce has

Case Study on Alcoholism

4362 words - 17 pages orientation (Benson & Wilsnack, 1983; Gromberg, 1986). Alcoholics? sexual problems include those related to gender roles, sexual abuse, and sexual dysfunction. Sometimes the sexual problems precede, and sometimes they follow the alcohol problems. Whichever the case, it seems that alcoholics? alcohol problems and their sexual problems often contribute reciprocally to each other (Cox, 1987). Yet another psychoanalytic variation on the

Marketing case study on Becel Margarine. This essay is an excellent example of how to set up a Marketing case study

2144 words - 9 pages customer loyalty rate, which is 50%. They could stick with the strategy they have been using all along.4. Becel could market their product to smaller families with few children and or older children. In the past a substantial portion of the volume of margarine purchased is by people with large families. Butter has dominated the market consisting of small families with no children of older children. Becel could use marketing strategies centered on

Case study document on marketing of Burj Al Arab in Dubai

1317 words - 5 pages Burj Al Arab in Dubai and reviewing the marketing strategies, influence of the culture on the hotel, its position in the market and its competitors.The city of Dubai is a highly developing commercial centre, with many new hotels coming up with recognized brand names. In order to develop a competitive advantage the hotel should maintain and develop the following points:1)To emphasise propagating the architectural miracle and there unique suite rooms

Case Study On Sony: Battling the Economy of Marketplace - mmu college - principles of marketing - Assignment

1595 words - 7 pages Company Case Chapter 3. Sony: Battling the Marketing Environment’s “Perfect Storm” 18. What microenvironmental factors have affected Sony’s performance since 2000? A few years ago, the market leader of consumer electronics was monopolized by Sony Corporation. Every consumer had at least one of Sony devices. But today, the market changed, but Sony didn’t. Embracing their rigid conventional technologies culture, competitors undertook Sony with a

Similar Essays

Report On Telstra Marketing Strategies

3129 words - 13 pages report progresses with the information about Telstra's main products and services under two main industries; 1) Telecommunication industry and 2) Information services, Telstra's marketing strategies are being critiqued using the marketing tool, the 7 P's framework.In the telecommunication industry, Telstra's marketing is more on media, billboards and value-added components. Also, it engages more in promoting its new products and services to

Cocacola On Facebook Case Study Digital Marketing Assignment

1560 words - 7 pages 125-year-old bottler has since concentrated its efforts on a single brand page, but it has never swayed from fans who show a missionary zeal in their devotion. “Most brands have to figure out what to do with social platforms,” says Michael Donnelly, group director of worldwide interactive marketing for Coca-Cola. “In almost every single case, we didn’t necessarily have to figure it out, because people figured it out before us.” The Facebook page

Case Study Marketing Research

1571 words - 7 pages Case Study Marketing ResearchMediante el ensayo que se presenta a continuación estará analizando la importancia del Marketing Research en el desarrollo y expansión de TV Guide una revista semanal orientada hacia los programas televisivos. Se estará identificando áreas donde se necesitara ser más riguroso en el Marketing Research, además se hará un análisis de la importancia del

Netto Case Study Marketing

1668 words - 7 pages with experience having shown that customers prefer larger store with greater space allocated to the different products together with good access, convenient location and free car parks, where as Netto has not that implied this as well. So above all are the marketing strategies which are not being followed by Netto as much as like Pricing, so if they don't concentrate on these as they r adopting such a strong focused approach on pricing, they can