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Marketing Plan For Insurance Company Essay

4565 words - 18 pages

1.0 EXECUTIVE SUMMARY 22.0 SITUATION ANALYSIS 22.1 MARKET DEMOGRAPHICS 52.1.1 MARKET TRENDS 62.1.2 MARKET GROWTH 62.2 SWOT ANALYSIS 62.2.1 STRENGTHS 62.2.2 WEAKNESSES 62.2.3 OPPORTUNITIES 62.2.4 THREATS 72.3 COMPETITION 72.4 SERVICES 92.5 KEYS TO SUCCESS 92.6 CRITICAL ISSUES 93.0 MARKETING STRATEGY 103.1 MISSION 103.2 MARKETING OBJECTIVES 103.4 TARGET MARKETING 103.6 STRATEGY PYRAMIDS 103.7 MARKETING MIX 113.7.1 SERVICES AND SERVICE MARKETING 113.7.2 PRICING 113.7.3 PROMOTION 114.0 MARKETING BUDGET 114.1 LINKING SALES AND EXPENSES TO STRATEGY 125.0 CONTROLS 125.1 IMPLEMENTATION MILESTONES 125.2 MARKETING ORGANIZATION 126.0 SOURCES 136.1 BIBLIOGRAPHY 136.2 REFERENCES 136.3 WEBSITES 131.0 Executive SummaryGapSure is a full travel insurance service and sells standard travel insurance services and special insurance for adventure travelling, including airfare and travel packages. Additional services include assistance with passports, providing access to top-of-the-line equipment and supplies, and a superior offering that includes access to better than average terrain and activities, youth accommodations, and entertainment. The value added of GapSure offering is its knowledge and expertise, singular offer, and specialty focus on gap year adventure travel, which translate into increased satisfaction for the customer.According to Mintel, the student travel market is worth 4.2% of the overall travel market and is unlikely to increase in the next few years. Nevertheless, gap years are on the increase and the total number of students taking a gap year is expected to increase to 90,000 by 2005. Mintel estimates the outbound travel market to be worth £17 billion for 2002. Of this figure, Mintel estimates that students account for 4.2% of the travel market. This figure is surprisingly low. If the number of students going to university increases, as the Government predicts, the number of students travelling will increase. However, if student debt levels continue to rise, the impact will be detrimental for student travel.In 2001, some 50,000 students took a gap year before going to university. Figure 1 shows that of these, nearly 30,000 deferred through UCAS. The other 20,000 deferred on results day, the main reason being not having achieved the results they wanted and taking time out to think about their options. The Year Out Group expects the number of students taking a gap year will rise to 90,000 by 2005.In the following four sections are the most relevant issues for British Insurance Group new product success, GapSure. GapSure strengths include its new product approach, experienced staff, marketing know-how and targeted focus. GapSure will capitalize on these and other strengths, to take advantage of opportunities and manage threatsAlthough in the precise segment and product that GapSure will operate there is not competition I've identified 10 immediate possible competitors in the UK.GapSure believes that the goal of business is to create and keep...

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