Assessment of marketing mixes and sales performance of insurance companies: A Case of Ethiopian Insurance Corporation
No Thumbnail Available
Date
2019-06
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
A.A.U
Abstract
The general objective of this study was to assess marketing mixes practice of insurance companies, using the case study of the Ethiopian Insurance Corporation. The study was guided by the specific objectives of assessing the role of marketing mixes on sales performance of the Corporation. A descriptive research design was used for the study. The target population was 263 respondents comprising of 99 customers, 83 intermediaries (sales agents and insurance brokers) and 81 employees that largely interact customers. Stratified probability sampling technique was used to select the sample. The researcher used primary data for this study and collected using questionnaires. On the primary data, questionnaires were used to collect data and data has been analyzed using SPSS. Descriptive statistics includes mean, frequency, standard deviation and percentages to profile sample characteristics were applied. The reliability of the tool applied was tested and a Cronbach alpha value of 0.733 has been obtained. The study found that price, process and products were identified as the most important marketing mix that played vital role on sales performance of EIC. This study has recommended that the price need to be competent and affordable and adoption of various claim settlement options such as cash option & outsourcing have to be implemented. The study further recommends that feedback/views of customers, sales agents and insurance brokers need to incorporate at time of product development. Lastly, the study recommends that another study needs to be done with an aim of investigating the effect of marketing mix on firm performance considering the private insurance companies as well.
Description
A Thesis submitted to Addis Ababa university college of business and economics in partial fulfillment of the requirements for the degree of master of business administration (MBA)
Keywords
Marketing Mix, Sales Performance