Marketing Plan Phase II
As part of the marketing strategy, Allstate has to identify the segmentation criteria of customers in the insurance market and consider how each criterion will affect its market selection. After considering the segmentation criteria Allstate can identify its target market. To identify efficiently the target market, Allstate will need to describe the consumers who want or need a web-based claims submission service, identify the factors that influence the purchasing decisions of these customers and determine how their marketing strategy will be affected by the influencing factors. Allstate will also need to study their competitors, and determine how it can differentiate itself in the market and gain a competitive advantage in the market. Segmentation Criteria
Allstate’s target market will be affected by the following segmentation criteria: consumer similarities (homogenous within); consumer differences (heterogeneous between); substantial and operational. Allstate is considering it current customers who have a need to file an insurance claim with a determining factor desiring those claims processed and paid promptly and efficiently; new customers - not presently insured by Allstate and new customers from competing organizations that do not offer estimated insurance claims. The similarities between these customers are that each has a strong need and desire to have their claims settled and paid as quickly as possible. The differences between these customers are that some customers prefer to deal with live agents in person, some customers are not technology-driven or customer savvy and others prefer to conduct business online. As the world becomes increasingly dependent upon the Internet to conduct business (substantial), Allstate has a prime opportunity to be a profitable industry leader with a competitive advantage by developing its web-based service. For Allstate’s segmenting approach to be operational it will...
Please join StudyMode to read the full document