MARKETING CONCEPTS: A SURE WAY OF ENHANCING GROWTH IN THE SELL OF INSURANCE SERVICES
By
Publisher
Presented To
Department of
Insurance
ABSTRACT
The objective of this study was to examine the extent and scope of the application of the marketing concept as a sure way of enhancing growth to the sell of insurance services. However, this study upon completion has come up with the following findings. That customers are always enthusiastic about the products of any insurance company that adopts the marketing concept in it’s marketing activities. This is because the company in industry do ascertain the need of the customers and worth towards satisfying their needs. This concept makes them market oriented rather than sellers â€" oriented.That what is responsible for the type of attitude on the part of the prospective insured is the type of product the company markets and the company’s goodwill. Customers do react positively to a particular company because of the product they market satisfies their individual needs and thus promotes the goodwill of the company. That the application of marketing concept by insurance companies has enhanced the marketing of insurance in Nigeria. That marketing concept can be successfully application to the insurance industry. This when applied will invariably lead to an increase in their sales volume. There is catconty that if a company produces and markets well, their sales volume is bound to increase. This is what insurance companies achieve through applying marketing concept to their marketing programmes. That the application of marketing concept the insurance industry by insurance operation has greatly enhanced production. Finally, it is absolutely necessary to incorporate marketing concept into the insurance industry.
TABLE OF CONTENTS
Title page ii
Certification iii
Dedication iv
Acknowledgment v
Table of content vii
CHAPTER ONE
Introduction 1
1.1 Background of study 1
1.2 Statement of problem 8
1.3 Statement of hypothesis 9
1.4 Objectives of study 10
1.5 Significance of study 10
1.6 Scope and limitation of study 11
1.7 Definition of terms 12
CHAPTER TWO
Literature review 15
2.1 Introduction to insurance 15
2.2 Main classes of insurance business 18
2.3 Need and importance of insurance in and economy 25
2.4 Marketing concept 28
2.5 Selling concept 31
2.6 Marketing versus selling concepts 33
2.7 Relevance of marketing concepts to an insurance industry. 35
2.8 Strategic marketing insurance services 36
CHAPTER THREE
Research methodology 42
3.1 Area of coverage 42
3.2 Sources of data 42
3.3 Sample size 43
3.4 Sampling procedure 43
3.5 Method of data analysis 43
CHAPTER FOUR
Data presentation and analysis 45
4.2 Test of hypothesis i 60
4.3 Test of hypothesis ii 63
4.4 Test of hypothesis iii 65
CHAPTER FIVE
Summary of findings, recommendation and conclusions. 69
5.1 Summary of findings 69
5.2 Recommendation 70
5.3 Conclusion 73
Bibliography 75
