Discus How Might A Life Insurance Company Use Demographic Analysis To Improve Its Advertising

1289 words - 5 pages

Language has a powerful influence over people and their behaviour and this is especially true in the fields of marketing and advertising. So the choice of language to convey specific message with the intention of influencing people is vitally important. But before I can discuss how can a life insurance company improve its advertising, I would look at the language used in advertising first.Marketing is defined in the Dictionary of contemporary English (1995:872) as the activity to try to sell a company's products by advertising, using attractive packages. Therefore I can say marketing is a way companies sell their products to the community that needs them or consumers. The following are some of the terms used in marketing packaging, selling, advertising, promotion of products and many more, but these are the terms I'm going to use much on my essay. The essay will also be based on advertising, as it is part of marketing.Advertising is purely an economic activity that is used by advertisers for the purpose of selling or letting customers aware of their services. To add on that I got a definition of the word advertising from Dade (1989:1) and reads that "a paid announcement intended to give information about a product or service or to persuade people to behave in a certain way." Some people also argued that advertising is so persuasive in the sense that it has the ability to change, shape social trends and mould personal attitudes, therefore they say that its influence is unwanted, regarded as bad influence. But all that it does is to make people aware of a service that is its price, availability and its purpose.Life insurance companies play an increasingly important role in the financial sector. This increased importance of life insurance as a provider of financial services and of investment funds in capital markets is especially pronounced for developed economies, whereas life insurance consumption remains to be low in many developing countries, i.e. an example can be in our country. Many Batswana believe that to go and invest in an insurance company is a waste of money and time, these problem is not only in our country only there are also striking differences in developed countries as well.A life insurance company also provides individuals with several important services, its products encourages long term savings and investing in public and private sectors, they have become a key service of long term finance. According to Ward and Zurbruegg 2000, the development of the insurance sector is related to economic growth .So a life insurance company should find means of improving its services and makes people aware of it by advertising itself.In order for it to be noticed it can use demographic analysis to improve its advertising. Demographic analysis can therefore be referred to as the segmentation/division of the market into groups based on variables including sex, gender, family size, income, lifestyle, education, religion, race and nationality. With...

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