Ask Business Management Expert

Assignment

For this assignment you are to address the following questions:

1. Based on the Case Study information below and what you have learned, define 5 strategies that The Rock can implement to become more Customer-centric.

Integrate concepts from the Cundari book into your analysis. Be sure and highlight those concepts. See the Rubric as you write your overview.

2. Define customer life time value and demonstrate how understanding this concept can help The Rock better meet the needs of their customers and expand their business.

3. Chapters 7, 8 and 9 in Customer-Centric Marketing address innovations and the future of CRM. Based upon what you read in these chapters and how you have observed other companies using technology, how might The Rock can innovate and meet its goals?

Your assignment is based upon the below scenario:

By focusing on its strengths, its present client base, and new value-priced products in the next year, The Rock Insurance plans to increase gross sales by 10% and profit by 15%. In addition to this, The Rock Insurance plans to expand their current office locations from three to five office locations.

The Keys to Success and critical factors for the next year are, in order of importance:

Identify "Target Markets." Identify prospective customers that The Rock may not have considered.

Begin the "Insurance Partners" program.

Provide small businesses with an affordable basic business package.

The Rock Insurance, Inc. has been profitable, but recently Rock Insurance has had a stagnant market share and this must be addressed. Therefore our goals are:

To re-establish The Rock Insurance, Inc. as the market leader in quality and value-priced insurance products in the Southeast Puget Sound district.

Establish good working relationships with the present insurance markets by meeting with their decision makers and plotting a mutual plan for success. Get commitments for support and products that The Rock can market in the trading area, starting in 2016/2017.

Investigate new markets that meet the marketing criteria by committing to small rural brokerage; providing products suitable to the economic and social climate; and planning for the upload and download of insurance policies.

Provide sales incentives to staff to meet sales goals.

Complete inspection of all Pilot homeowners within one month before renewal date.

Formulate plans to acquire or add two new brokerage.

The Rock Insurance, Inc. is dedicated to providing insurance products that provide quality protection with value pricing. The Rock Insurance Company wishes to establish a successful partnership with the clients, staff members, and insurance companies that respect the interests and goals of each party. Success will be measured by the clients choosing The Rock because of their belief in The Rock's ability to meet or exceed their expectations of price, service, and expertise.

In order to implement our strategic goals, The Rock will focus on developing the following tools:

Knowledgeable, friendly staff that can empathize with our consumers' needs and circumstances, especially in handling a loss.

Policies that meet or exceed the expectations of our clients, and that are affordable, available, and understandable.

Policies and endorsements delivered on time with minimal errors.

A commitment to an annual insurance review for all of our clients. A phone call is more than any direct mass marketer offers. The Rock believes personal contact and service is the cornerstone of our success.

The Rock Insurance primarily markets and services Personal Lines Insurance. Its customers are mostly urban and some rural, lower income families or long-time resident senior citizens who demand value-priced insurance premiums in keeping with their lower and fixed incomes. The Rock will also provide insurance to small business, mostly family-run seasonal operations primarily focused on the tourist trade.

The Rock Insurance is a privately incorporated company in the South Puget Sound district and is licensed to transact both Life and General Insurance. The shares are held equally by John Smith and Peter Smith.

The Rock has stressed to the insured the importance of good communication between the broker and client to insure proper coverage is in place. The Rock has noticed as the clients become better informed about insurance that there has been a tremendous increase in clients wishing in-depth discussions about their policy coverage and how they can get the most value for their insurance dollar.

The company's strength lies in the quality and depth of our products and staff. The offices, unlike the competition, are open six days a week. Because of The Rock's larger staff, they are able to service the clients even when a client's broker is busy or out of the office on inspections. The Real Estate division, which is a separate company.

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M92090783

Have any Question?


Related Questions in Business Management

Name a company that addressed a recent ethical problem in a

Name a company that addressed a recent ethical problem in a positive way. Also, explain how or if this positively affects us as a community?

When it is appropriate to use the trade-off process what

When it is appropriate to use the trade-off process. What conditions apply, and the technical evaluation criteria that might be used?

Need help with a essay with the following phrase for

Need help with a essay with the following phrase for analyzing : " Capitalism is at the heart of how people and organisations are managed in contemporary society" May i ask for a better explanation of the question? Also ...

How could these three tenets of the auburn creed be used to

How could these three tenets of the Auburn Creed be used to motivate others: "I believe that this is a practical word and that I can count only on what I earn. Therefore, I believe in work, hard work." "I believe in educ ...

How can these two tenets of the auburn creed by used in

How can these two tenets of the Auburn Creed by used in addressing teamwork issues: "I believe in honesty and truthfulness, without which I cannot win the respect and confidence of my fellow men." "I believe in the human ...

Discuss the advantages of having and interacting in a

Discuss the advantages of having and interacting in a diverse workplace. Consider the wide range of ideas and perspectives that a range of team members bring to a team, that are of differing ages, ethnic backgrounds and ...

Parmigiano-reggiano global recognition of geographical

Parmigiano-Reggiano: Global Recognition of Geographical Indications What historical factors have helped support the consortium's claims for the geographic specificity of Parmigiano-Reggiano and Parmesan? What are the eco ...

Communication planthis communication plan will be a roadmap

Communication Plan This communication plan will be a roadmap on how the new division will best be able to communicate with Biotech's corporate headquarters, suppliers, other divisions, and internally. This should lay out ...

Discuss strategies to obtain feedback from a customer and

Discuss strategies to obtain feedback from a customer and clients when working in sales.

Describe different networking methods and the advantages

Describe different networking methods and the advantages and disadvantages of them?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As