Student Name : Ali Mohammed Jawad Alabdullatif
Student Number : 201209652
Module Name : Marketing
Module Code :56216
Marketing Plan for Natinal Life And General Insurance Co. SAOC
Assignment (Part One): Marketing plan for the board of directors.
Table of Contents:
Serial | Topic | Page # |
1 | Executive Summary. | 4 |
2 | Company Overview:2.1 Mission Statement. | 5 |
3 | Marketing Plan Objectives/Goals. | 5 |
4 | Situation Analysis:4.1 External Business Environment and Market Trends. * PEST Analysis | 5 |
5 | Internal Business Audit: * SWOT Analysis | 8 |
6 | Strategic Opportunities6.1 Aapplication of Ansoff’s Matrix on NLG. | 9 |
7 | Positioning | 10 |
8 | Segmentation | 11 |
9 | Comparison of Strategic Opportunities | 12 |
10 | Implementation of Strategies:9.1 Market Mix. | 12 |
11 | Marketing Tactics. | 14 |
12 | Other Keys to Success. | 15 |
13 | Financials Forecasts13.1 Sales Forecast.13.2 Marketing Expense Forecast. | 15 |
14 | Controls. | 17 |
15 | References. | 18 |
1. Executive Summary:
In last few years, the life insurance industry in Oman experienced a remarkable drop in business. Recession, awareness and proper marketing channels could be some of the main causes of this drop. As part of the insurance sector, NLG was doing well over years however in last few years the company experienced a decline in market share which directly affected its sales and consequently reduced profitability. Hence, this plan is to enhance the sales and profit taking into accounts the strong client base, brand image, internal / external strength and vast variety of product mix.
The company will focus on following strategies in order to achieve its ultimate goal:
* Create awareness within the society about the importance of life insurance policy.
* Invent new products that are suitable and affordable to the society
* Explore opportunities in new markets.