COMPANY ANALYSIS AMERICAN INTERNATIONAL GROUP HISTORY: ‘AIG traces its roots to 1919, when American Cornelius Vander Star established a general insurance agency, The American Asiatic Underwriters, in Shanghai, China. Since then an enterprising spirit, ingenuity, and tenacity have built the company into one of the world’s leading insurers. At present, AIG is focused on what it has been known for since the beginning- the willingness and ability to provide insurance coverage to meet the diverse needs of its customers’. AIG AT A GLANCE: AIG is the world’s leading insurance organization with more than 90 million customers around the world. They are the top players in property casualty insurance, life insurance, retirement products, mortgage insurance, …show more content…
The aim of segmentation is to decide how to use customers in each segment to maximize the value of each customer for the business.) As direct tv is digital television entertainment services company, they focus on providing entertainment to all group of people. They have variety of programs which will entertain all group of customer (from age group 1 to 100). CONCLUSION: Based on the above analysis, we can find that AIG and DIRECT TV GROUP are companies which operates in different industries. Even though they are different in nature they have some similarities in case of their customer segmentation, marketing methods adopted etc. On analyzing the working strategy, portfolio and segmentation of both the companies I think AIG performs better than direct TV in some cases. They have a strong marketing strategy on compared with direct tv and they also try to provide maximum customer satisfaction. AIG believe that by providing the high value to their customers, they can deliver improved operating and financial performance and sustainable, profitable
FAHW’s website looks very similar to AHS website in simplicity of navigation and the color scheme. One factor that First American has in their favor is the similarity in their company name and website which at times can confuse customers in doing business with the another company, assuming it is AHS. First American also does a great job of compounding some features from Choice and American Home Shield's website by offering similar information as Choice, but in a simplified format (“FAHW”, 2017). One aspect of American Home Shield’s website that is more superior is the functionality of the website. It offers a great amount of simplicity and directions for consumers and also includes a blog for homeowners.
How do they make sure that the services they provide are effective? How sure they that the staff members are are satisfied working in the company? If not what is being to make sure that the performance of the staff members improves? Concerning the organization is the financial company stable and at some point will it go through bankruptcy. What are they doing to make sure that the customers will keep coming back?
Answer: (a): Market segmentation is the first step in defining and selecting a target market to pursue and penetrate. Basically, market segmentation is the process of splitting up an overall market into two or more groups/classes of consumers. Each group of consumers is called as a market segment. Each group (or market segment) should be similar in terms of certain characteristics or product/ service needs. In business world, market segmentation is considered to be a most important tool in enabling marketers to better meet customer needs and requirements.
Insurance companies are making a huge amount of profit. The profit that these
This leads to a conclusion of Strong Competition in the Auto Insurance Industry. 2.2 PESTLE ANALYSIS Political Factors Currently there are no as such political issues relating to the auto insurance industry, but in the future if government plans to impose any law regarding to auto insurance like it did before stating that every driver is supposed to purchase car insurance. However, this increased the car insurance sales, benefitting GEICO so wouldn’t be considered as an issue. Economic Factors
Common definition market, which means economic that’s approach customers in terms of people to find a goods or services they want, while segmentation is processes dividing specific part into many parts of some things. Market segmentation is mean an organization target its product, services, or ideas only to specific groups of consumers rather than to everybody, even if it means that other consumers who don’t belong to this target market aren’t attracted to it, for example is ASIMO might be suitable for housewife to do household works. Honda company has been targeted three major part of market segmentation that is include demographic, behavioral, and psychographic segmentation. Demographic segmentation is based on age, income, family size and socio- economic status, etc.
Peugeot is one of the most well-known French automobile manufacturer companies, founded in 1810 by Armand Peugeot. With many successful sales worldwide, approximately 2.973.000 vehicle sales during 2015 and remarkable rewards, Peugeot can be considered as one of the leading companies in the European and global automotive industry. As noted in the ‘’New Cars Industry Profile: France’’, the companies’ revenue for 2016 was $72.563 million (p.24). All companies, regardless of the industry they belong to; in order to thrive they have to successfully conduct customer segmentation. In other words, they need to divide their potential customers into groups that share common characteristics, needs, etc.
Targeting is the next step after segmentation and requires that the needs of the target market are met. Next
It would aim at establishing a strong customer lifetime value. It would also search for new markets in other
Purpose and process of market segmentation The purpose of segmentation is to allow the marketer to be better able to reach the consumer needs and wants which increases the positive responses for the brand. Segmentation is important during the promotion process, this is where the team decided who what and where as well as, age gender and things like buying patterns. Because of this, marketing g segmentation comes before targeting. By dividing the audience, it makes it easier to target exactly who and where to send the devices or what to do with their next model.
BE201 TMA Draft Karim Mahmoud Ghweil Question 1: A. Market segmentation is the process strategy of dividing a product or service for the general or specific groups based on their preferences, style, perceptions, needs, and interests. As Marks & Spencer already segmented its customers in some ways. It used demographic segmentation in which it targeted people with the age of 30 and above and also with relatively good or high income. But why M&S used market segmentation in the first place and how is it beneficial?
This would attract a pool of workers of the highest caliber, thus leading to more value induced into the company. # Successful communication of perceived strengths of the product: Integrated marketing strategy- This has
According to TrackMaven, market segmentation is the process of dividing the market of potential customers into groups, or segments, based on different features. The created segment consists of consumers who will respond to the same marketing strategy and who share the nature of the same interests, needs, or locations. McDonald uses demographic segmentation as their main types of market segmentation. According to Sakshi Natani (2016), McDonald in Malaysia used mainly demographic segmentation, which divided in age, income, family-life cycle and social class.
The process of market segmentation involves the division of a market into groups of smaller size whose needs, behaviour and characteristics are distinct from each other. These smaller groups or 'segments ' may require separate marketing strategies. There are four major market segmentation variables namely behavioural, psychographic, geographic and
1. MARKAT SEGMENTATION Market segmentation is a strategy that is generally used by a company to identify and define the target customers, and provide the supporting data for the marketing plan elements. There are five types of market segmentation which are demographic segmentation, geographic segmentation, psychographic segmentation, benefits segmentation and volume segmentation. • Demographic Segmentation Demographic segmentation is market segmentation according to age, family size, religion, race, gender, income and education. By using this segmentation, a company can categorize the needs of consumers more easily and target its consumers more accurately because demographics can segmented into several markets.