A Study Of Marketing Strategies Of Changcheng Insurance

With the rapid development of economy and the entry to WTO, China is confronted with challenges as well as opportunities. On the one hand, more and more people buy insurance against the rapid development of economy, the improvement of living standards, the consciousness of health. The demand for insurance products is increasing. The insurance industry accomplishes a rapid and healthy development with the support from the Party and the government. Since the sixteenth National Congress of Communist Party of China, the insurance industry remains an average annual increase of 18.2%, and the income from the national insurance fee in 2007 is 2.3 times that in 2002. China ranks the ninth regarding the insurance income the world wide, while it ranked the sixteenth in 2000. The total assets of the insurance company reaches 29,000 billion dollars, which is 4.5 times that in 2002. On the other hand, realizing the massive potential of the insurance market in China, foreign assets long to become involved in the insurance market in China, especially the international insurance companies which have long history, and are highly competitive and capable. The insurance market is experiencing great changes. This industry has developed from one company into a market structure where different forms of organization and different systems of ownership, such as joint-stock enterprises, professional companies, foreign-invested enterprises, etc., coexist, compete justly and develop jointly. By the end of 2006, there had been 6 limited companies, 98 insurance agents, 5 re-insurance agents, and 9 insurance agents of assets management. Among them, there are 46 life insurance companies, 21 of which are invested by China and 25 are foreign invested or joint ventures.The marketing strategy of a company determines the direction of its development and the realization of its goals. Changcheng Insurance agent is a rapidly burgeoning enterprise which entered the market in 2005, so it is faced with a changeable outer environment, heated competition in the market, competition from opponents at home and abroad, and the development of the company. In such circumstances, a company will be defeated if it does not make progresses. In such context, this thesis offers an operational marketing strategy to satisfy the developmental need of Changcheng Insurance agent. This strategy is based on the actual situation of Changcheng Insurance agent, emphasizes the combination of theory and practice, and analyzes the environment in the insurance industry and the internal situation inside the enterprise. It will help Changcheng Insurance agent to achieve its goals and sustainable development.This thesis is divided into six chapters. Chapter One is an introduction of the background and significance of this study and a review of relevant literature is also provided in this chapter. Chapter Two is an analysis of the theoretical basis of the insurance marketing of Changcheng Insurance. This chapter consists of an account of characteristics of insurance products, insurance consumption, insurance psychology, and differences between insurance marketing and marketing in other industries. Chapter Three is a review and analysis of the development of the insurance market and the insurance marketing both at home and abroad. A prediction is made about the developmental tendency of life insurance in China, especially the tendency of the insurance market The analysis and the prediction serve as the foundation of the Changcheng marketing strategy. Chapter Four is an analysis of the current marketing situation of Changcheng Insurance. SWOT is adopted to analyze the internal and external environment of Changcheng Insurance marketing, and the key for Changcheng Insurance to carry out marketing activities is made clear in this chapter. In Chapter Five, the author draws conclusions from Chapter Two to Chapter Four, and points out the strategic goals and emphasis in the development of Changcheng Insurance marketing. Chapter Six is about the carrying out of the marketing strategy of Changcheng Insurance.