Preview

Takaful Insurance Case Study

Powerful Essays
Open Document
Open Document
1771 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Takaful Insurance Case Study
1.1 : INTRODUCTION.

This study is about direct marketing that used by Takaful Insurance. Takaful is a co-operative system of reimbursement in case of loss, paid to people and companies concerned about hazards, compensated out of a fund to which they agree to donate small regular contributions managed on behalf by a Takaful Operator. Direct marketing is a form of marketing that attempts to send messages directly to consumers, without the use of intervening media. The main principles of direct marketing is that at least part of your communication with your customers is a direct - to named customers. Direct marketing differs from regular advertising because it does not put the message in the medium of a third party such as billboards or radio commercial. Today Direct
…show more content…
Direct marketing of Takaful Insurance plays a broader role, which is to build long-term relationships with customers. Direct marketing that used by Takaful Insurance is like sent a catalog, an advertising in the newspaper and call customer directly. For example, Takaful Insurance sent a catalog or flyers to the customers about the benefit of insurance. Besides that, Takaful will call the customer to introduce about insurance to the customers. So that the customer will remain with them and become a loyalty customer.
Direct marketing is very important and very useful to facilitate customers to communicate directly with the dealer or an insurance agent. but direct marketing today is less well-received because customers prefer to use interactive marketing compared to direct marketing. this is because a lot of direct marketing disrupt customers' personal time. for example calling an insurance agent at the time the call is not appropriate eg when customers are enjoying dinner with the family. Direct marketing is also very to force customers to buy their insurance. This will make customers feel uncomfortable because they are forced. 7.1 : CONCLUSION AND

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Direct channels to market are typically your sales force. Direct channels to market include any route to market that you control and finance directly. The direct channel is typically more capital intensive to establish and you typically achieve a far greater level of control over this channel than you do the indirect channel.…

    • 488 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Week 10

    • 1757 Words
    • 24 Pages

    Week 10 Promotion The Promotion Mix • Advertising – – – – Can reach geographically disperse buyer masses Seller can repeat the message several times It is impersonal and one-way Could be costly in some media • Personal selling – – – – Implies personal interaction between two or more individuals Most efficient tool to create preferences, convictions and actions Allow creation of relationships Most costly promotional tool, requres long term commitment Fundamentals of Global Marketing © Juan Carlos Rosa-Medina, MBA 2 1…

    • 1757 Words
    • 24 Pages
    Satisfactory Essays
  • Powerful Essays

    On the basis of the primary data collected with the help of the survey, it is found that the median age group of 41 is most interested in purchasing the insurance products. The survey has analyzed that the customers are moderately satisfied with the existing services; this reveals that there is a need to train sales representatives to provide excellent services for luring customers to buy other products of the company. On an average, the respondents hold two insurance policies, so there are a lot of opportunities to lure customers towards buying other…

    • 773 Words
    • 4 Pages
    Powerful Essays
  • Powerful Essays

    Without advertising and promotion the company cannot communicate the message of their product to the target customers. Through advertising the organisations use mass media to communicate the message to a large group of people. This can also be said as above the line promotion. Below the line promotion includes when the organisation is directly involved such as direct mailing and telecommunication. The assignment has been done on extensive research work to find out the various strategies used by organisation for advertising and promotion. The advantages and disadvantages, the competitive edge,…

    • 4465 Words
    • 18 Pages
    Powerful Essays
  • Powerful Essays

    direct marketing plan

    • 2948 Words
    • 12 Pages

    This paper shows the objectives and the goals of the firm and the different strategies especially the direct marketing that can be applied to them to become more successful. Also, this paper projects the strengths and weaknesses of the firm, as well as its opportunities and threats that can be helpful to develop strategies to improve its weaknesses. The goals of this paper is to highlight the direct marketing plans that can be used to promote the service that we are catering, to promote the good characteristics and the unique edge of the…

    • 2948 Words
    • 12 Pages
    Powerful Essays
  • Satisfactory Essays

    Marketing Dicussion

    • 354 Words
    • 2 Pages

    In 21. Century Technology’s has changed the way we live, the way we catch the information. In nowadays the society has become indifferent and it is hard to draw the attention. That’s way the company’s use the marketing communications to inform, persuade and remind consumers about the product and brand they sell. It’s very important to establish a dialogue and built relationships with consumers. The disciples in marketing communications include: Media advertising, sales promotion, events and experiences, public relations, direct marketing, persuade selling.…

    • 354 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    The primary concern or objective of marketing is to identify and satisfy, or exceed the changing needs of customers. In view of this broad concern of marketing, it can be seen that the concept of marketing summarizes many activities in a business. Marketing, in fact, refers to any activity undertaken by a firm that has been designed to plan, price, promote and distribute ideas, goods and services to target markets. These marketing activities were executed in order to create an exchange and sales that will result in the achievement of the proprietors' individual goals and the firm's goals, both in the short-term and the long-term. It is then obvious that marketing forms an integral component of any business's operations.…

    • 765 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Research Project

    • 7113 Words
    • 29 Pages

    Today, Marketing becomes useful tool in business. Without doing marketing, organizations cannot find out customers who will bring great benefits for their business. As competition continues to increase, businesses are forced to find new and innovative ways of creating and keeping new customers. They have to apply many marketing campaigns in order to maintain the high level of customer satisfaction.…

    • 7113 Words
    • 29 Pages
    Powerful Essays
  • Powerful Essays

    Taco Bell

    • 1789 Words
    • 8 Pages

    The following report is researched from various sources to define what is marketing and what kind of marketing strategies that companies and co-operations use to achieve success. To achieve target or goal in marketing, companies have to know consumers’ behaviours, cultures and tastes among other various facts. The report presents that…

    • 1789 Words
    • 8 Pages
    Powerful Essays
  • Satisfactory Essays

    Ethical Marketing

    • 465 Words
    • 2 Pages

    Marketing to a target market of consumers is one of the most important and crucial…

    • 465 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Direct Mail Marketing

    • 1946 Words
    • 8 Pages

    Direct-mail advertising is a form of medium used by direct marketers, it is the most personal and selective of all media. Also, this highly specialized mail can be purchased (available among the thousands are lists of various level students, business professionals, college professors, pregnant women, and even vintage car…

    • 1946 Words
    • 8 Pages
    Better Essays
  • Good Essays

    A second criterion of the market segment would be the whether the marketing campaigns are actionable. The marketing campaigns have to be formulated to attract and serve the potential market. The marketing campaigns have to target the 4Ps, namely the product, price, promotion and place. Jean Yip’s hair-styling service is the product and there should be differentiation from other hair salons. It can be done through branding of its salons through various television programmes which showcase various hair styles. These programmes can engage Jean Yip as its ambassador and thus, create a positive impression that Jean Yip is a reputable and established brand that people can sought after. This is applicable to the Believers who believe in recognized brands. Under price and promotions, Jean Yip also advertises…

    • 1000 Words
    • 4 Pages
    Good Essays
  • Good Essays

    According to The European Direct Selling Association (seldia), direct selling can be defined as followed: Direct selling is a method of marketing and retailing goods and services directly to the consumers, in their homes or in any other location away from permanent retail premises (seldia, http://www.seldia.eu/direct-selling/about).…

    • 678 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Use of Sell Phone in Bd

    • 534 Words
    • 3 Pages

    Direct marketing is on the rise and now it has become one of the most powerful tools to compete in the market as a strong brand. In our country we can see that this tool is not properly utilized. I think fashion brands like Lubnan can use this very much effectively because it is a rising brand and has loyal customer base. At the time of Eid and other festivals stores of Lubnan become crowded and its customers after getting into the stores fighting with the crowd becomes very much frustrated when they find that the proper size of their chosen Panjabi is not available at that store. So what lubnan can do that they can keep records of what size of clothe a customer is taking and at the next festivals or when they get new arrivals they can notify those customers that at which branch their sizes are available. They can also make a mobile version of their web page. So that when customers will make their mind to buy a product after choosing it in one store but will face the problem of not getting the proper size they can instantly check the mobile web of Lubnan which will give them the real time update that at which branch they can find the right size of the product. Artisti and other fashion stores can also use this. They can also sell this data base to other companies. If we think like this that at the time of wedding most of the upper middle class families and elite class people take the bride grooms dress from these stores. People of this class make purchase of the brides dress from Vasavi, Shoppers world, Zara. So these brands can keep records of these customers which can be an appealing data list for companies like Walton, Philips, Samsung etc. Because it is most likely that newly married couples will buy home appliances at the beginning of their new life. So these companies can send them sms of their products and they can also include a code which will work as a discount coupon for their customers. Companies like Milk vita, Arong dudh,Rrandhuni gura moshla can…

    • 534 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Sales Promotion

    • 1047 Words
    • 5 Pages

    Activities aimed at reaching the consumer at his home or in his office may be called Consumer sales promotion .It is aimed to inform or educate the consumers and to stimulate the consumers. Success depends on consumers’ co-operation.…

    • 1047 Words
    • 5 Pages
    Good Essays