Marketing of Insurance Products in Kenya
Adhiambo, Irene (2011)
Adhiambo, Irene
Lahden ammattikorkeakoulu
2011
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2011092313212
https://urn.fi/URN:NBN:fi:amk-2011092313212
Tiivistelmä
The purpose of the study is to find out and improve on strategy used in the Marketing of Insurance Products in Kenya; Case of African Merchants Assurance Company Ltd (AMACO). AMACO is one of the 44 insurance firms in Kenya. Among others it is a local incorporated company, which makes a difference in that it is not one of the leading insurance firms in Kenya, which is held by such firms as British-American insurance company. The methodology used is quantitative, qualitative methods, interview and a comparison was made between AMACO and other insurance companies in Kenya, as to find out about the issues of the strategic implementation of the marketing of insurance products in Kenya.
The study is based on the 4Ps, marketing mix, as a theoretical and strategic option of effective marketing. The study is focused at determining the specific marketing strategy of the marketing mix that Amaco uses to market their insurance products. The study does a comparison of various insurance firms, both local and international, operating in Kenya. It specifically focuses on Amaco, a firm with mission statement, objectives and based on implementation of the marketing mix strategy for marketing their products; price, place, product and promotion.
The results of the study indicate aspects of marketing mix (Price, Place Promotion, and Product) are improved. Price is the main problem; Amaco will introduce strategies like instalment payments and adapting the new M-Kesho way of payment.
The study is based on the 4Ps, marketing mix, as a theoretical and strategic option of effective marketing. The study is focused at determining the specific marketing strategy of the marketing mix that Amaco uses to market their insurance products. The study does a comparison of various insurance firms, both local and international, operating in Kenya. It specifically focuses on Amaco, a firm with mission statement, objectives and based on implementation of the marketing mix strategy for marketing their products; price, place, product and promotion.
The results of the study indicate aspects of marketing mix (Price, Place Promotion, and Product) are improved. Price is the main problem; Amaco will introduce strategies like instalment payments and adapting the new M-Kesho way of payment.