Assessment of Marketing Strategy on Sales Performance: in Private Insurance Companies
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Date
2024-07-08
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A.A.U
Abstract
This research asses the role of marketing strategy on sales performance. The target population for the study was private insurance companies’branch managers, marketing and sales heads or managers and supervisors working in Addis Ababa area. Stratified random sampling technique was used and 209 employees of insurance companies as the sample of the study. The researcher used descriptive research design and quantitative research approach. The data collected from questionnaires is systematically organized in a manner to facilitate the analysis. The data were analyzed using Statistical Package for Social Sciences (SPSS) and summarized to relate the collected variables from questionnaires. The data were also classified, tabulated, and summarized using descriptive measures such as; mean, standard deviation, and percentages.The results showed that sales performance and customer segmentation, sales performance and relationship marketing, sales performance and marketing channels are all correlated weakly but to be considered in a positive direction. Furthermore, the descriptive analysis showed that all constructs of marketing strategy (customer segmentation, customer prioritization and targeting, relationship marketing and marketing channels)align to favorable side of the scale used to measure them.Therefore, it is recommended that insurance companies have to rigorously identify which customer segments, which technique to prioritize and target, which relationship strategy and which marketing channelswill increase their sales performance and helps them to attain organizational goals.
Key Words: Marketing Strategy, Sales Performance, Insurance