IMPLEMENT CUSOMER SERVICE STANDARDS
Introduction-As a leading financial services organization Zurich has a diverse range of businesses and a wide variety of customers. However, one of the things all our businesses have in common is confident and talented people who deliver the best products, service andsupport.Zurich provides an excellent platform for those who want to succeed and gives recognition. One approach to business is to develop a product and then look for customers. This case study examines the customer-focused approach of Zurich , the insurance and financial services provider. Zurich Financial Services Group (Zurich) is a global company. It provides both business and personal insurance. It has a rich mix of products and services, including motor insurance, buildings and contents insurance, risk management, life assurance, and pensions and investments. The company was founded in 1872 and the Group’s headquarters are in Zurich, Switzerland. Today Zurich does business in over 170 countries and has over 60,000 employees. It operates through a network of subsidiaries and offices in North America, Europe, the Asia-Pacific region and Latin America. Section-2
competitive marketplace-: A market with a large number of buyers and a large number of sellers, such that no single buyer or seller is able to influence the price or any other aspect of the market -- no one has any market control. A competitive market achieves efficiency in the use of our scarce resources if there are no market failures present. Commodity- A physical substance, such as food, grains, and metals, which is interchangeable with another product of the same type, and which investors buy or sell, usually through futures contracts. The price of the commodity is subject to supply and demand. Risk is actually the reason exchange trading of the basic agricultural products began. For example, a farmer risks the cost of producing a product ready for market at sometime in the future because he doesn't know what the selling price will be.
Market research- is any organized effort to gather information about markets or customers. It is a very important component of business strategy. The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets.
Differentiate-, the making a product different from other similar products. Business strategy-it describes how a particular business intends to succeed in its Chosen market place against its competitors. It therefore represents the best attempt that the management can make at defining and securing the future of that business.
An insurance broker- sells, solicits, or negotiates insurance for compensation. Their client may be an individual, corporation or organization. The three largest insurance brokers in the world, Proposition-In logic and philosophy, the term proposition refers to either (a) the "content" or "meaning" of a meaningful declarative sentence or (b) the pattern of symbols, marks, or sounds that make up a meaningful declarative sentence. The meaning of a proposition includes having the quality or property of being either true or false, and as such propositions are claimed to be truth bearers. A brand is a "Name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers." Branding began as a way to tell one person's cattle from another by means of a hot iron stamp. A modern example of a brand is Coca Cola which belongs to the Coca-Cola Company. A trademark, trade mark, or trade-mark -is a distinctive sign or indicator used by an individual, business organization, or other legal entity to identify that the products or services to consumers with which the trademark appears originate from a unique source, and to...
References: www.thetimes100.co.uk /zurich
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