Kehinde, O.J. (2007) MARKETING OF INSURANCE PRODUCTS: COMPETITIVE MARKETING STRATEGIES FOR SURVIVAL IN THE EMERGING NIGERIAN MARKET. Journal of Economics and Management Studies Consultancy Unit, 2 (1). pp. 120-134.
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Abstract
Every firm strives to develop appropriate competitive marketing strategies, which will help it to create a dependable position against competitive forces by either defensive or offensive action. The firm must also endeavour to develop a distinctive competence greater than its competitors. Distinctive competence is concerned with identifying the particular strength, which gives the company an edge over its competitors and those areas of particular weakness, which are to be avoided. The objectives of this paper are to: (i). Explore the meaning of competitive marketing strategies, which could be used in today’s Nigerian insurance industry. (ii). Establish how the appropriate use of competitive marketing strategies will result in successful marketing of insurance products in Nigeria, amongst others. The paper uses a eight step process model to drive home its point. The paper believes that if sustainable development would be achieved, then a company competitive strategy needs to start with a SWOT analysis of the market to be followed by a tactical x-ray of the company objectives as well as appraisal of the SWOT analysis of competitors’ activities. The paper makes useful recommendations, which would be of immense importance to decision makers and other stakeholders in the Nigerian insurance industry
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Marketing, Insurance products, Competitive marketing strategies, Survival |
| Subjects: | H Social Sciences > H Social Sciences (General) |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Management |
| Depositing User: | Mrs Patricia Nwokealisi |
| Date Deposited: | 23 May 2016 12:54 |
| Last Modified: | 23 May 2016 12:54 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/6596 |
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