Business Foundations For Insurance Professionals Essay

A310 Business Foundations for Insurance Professionals The concept of marketing is quite logical and simple. Identify the specific wants and needs of a target market and satisfy those customers better than the competitors. Insurance companies are in a unique position when it comes to marketing. They have no tangible products to sell, but must instead rely on strong relationships with loyal customers and word of mouth to help them compete. Still, despite the challenges, the marketing strategies for insurance companies are really no different than for any other company, and require a strong focus on the basics of effective marketing. First order is insurance companies must know their market. This means having a strong understanding of their target audience, their competition and the most effective ways to communicate. Competition is aggressive, but service organizations like insurance agencies that thoroughly understand the needs and concerns of their target audience can effectively mo tivate that audience to connect with them. Successful insurance marketers don’t just go out and do things. Based on their knowledge of the market, and their overall goals and objectives, insurance marketers identify and prioritize the communication strategies most likely to generate the results they need. This generally involves a combination of activities that include both traditional and new media, direct and indirect sales. One aspect of marketing that I know our companyShow MoreRelatedWe Are Linear Thinkers, Yet The World The Web1598 Words   |  7 PagesWe are linear Thinkers, yet the World the Web are 3D How to Connect the Dots from Practitioner to Business Owner Take the leap from therapist to business owner! The path to business ownership is different for each individual. 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