Research On The Marketing Strategy Of CPIC Xiamen Branch

In recent years, China’s property insurance industry has developed rapidly. Being an essential type of property insurance, motor vehicle insurance’s income accounts for more than70percent of the total insurance industry income, making it to be an important competitive field for property insurance companies. Therefore, an in-depth study of the auto market and auto insurance consumers will keep CPIC Xiamen on the cutting edge in facing increasingly homogeneous and unfair competition. To promote the sustainability, strength, and harmony of the development of Xiamen insurance market with healthy competition, the study of past competitive behavior based on consumer insight and the exploration of new competitive point and competition mode of auto insurance are indispensable.Since CPIC entered the Xiamen market ten years ago, its market share has always been in the top three in the whole industry. However, with the increasingly fierce market competition, CPIC Xiamen is facing a huge threat. With increasing number of individual customers, the original marketing strategy is unable to satisfy the customers’requirements of auto insurance product, including comprehensiveness of the product, purchase convenience and professional service. Therefore, how to improve sales performance in the fierce competition and how to meet the needs of customers have become urgent and important research topics for CPIC Xiamen. Therefore, the research on personal auto consumptive behavior is crucial.Through questionnaire survey, data on individual characteristics of insurance consumers, consumer behavior and its impact on consumer decision-making process were gathered. The data collected were analysed using the SPSS software by performing descriptive statistics and crosstabs analysis. Next, knowledge of the theory of customer behavior as well as marketing sales, from customer, cost, convenience and communication, were applied on the statistical results to put forward some suggestions to improve the insurance marketing strategy of CPIC Xiamen. These strategies will guide a new direction of CPIC Xiamen business development in auto insurance and establish a "customer demand-oriented" marketing strategy,In conclusion, consumer choice of insurance companies are influenced by many factors, such as gender, income, occupation, behavior or other internal and external factors, which means that consumers in the auto insurance market have different insurance needs. Therefore, we should design different marketing and service strategies to meet the differing characteristics and needs of consumers.