Study On Marketing Strategy Of AIA (Suzhou)Co.,Ltd

With the continuous development of China’s economic and social progress, insurance, especially life insurance gets more and more attention of people, and plays a positive role in social economic activities. After the financial storm in 2008, affected by its original parent company American international group-AIG’s financial crisis, the brand credibility of AIA insurance faced huge shocks and severe tests. After two years of adjustment, in October 2010, AIA group restructured and listed on the main board of the Hong Kong stock exchange, opening a new chapter of AIA group. AIA Suzhou branch was established in 2002, which is an important branch of the AIA group’s China business. Under the change of the domestic and foreign environment, situation, and the customer’s demand, AIA Suzhou branch need to adjust its marketing strategies accordingly and even make new plans.In this paper, mainly starting from the current operation of AIA Suzhou branch, and combining with the marketing theory, marketing mix theory and the insurance marketing theory, we make comprehensive analysis both for the internal and external environment and the situation and trend of the supply and demand for the AIA Suzhou branch,at the same time we make the analysis of the to main competitor in Suzhou life insurance industry, and find out AIA’s marketing problems in its business development. E.g. Incomplete product structure and single sales channel, etc. By applying SWOT analysis, we find out the positioning of life insurance companies in the target market, and make suitable strategies for AIA e.g..product strategy, price strategy, channel strategy, promotion strategy, and the corresponding execution method for marketing strategy, which is strengthened by the implementation of the strategy of security measures, e.g., enterprise culture construction, customer relationship management, marketing, personnel management, effective marketing process management, etc.Under the huge market for life insurance in Suzhou, AIA will also have a broad prospect in business. New opportunities mean new challenges.