Marketing Research As A Tool For Profitability In The Service Industry A Case Study Of Aiico Insurance Company Operations In Enugu Metropolis
...Making Research more of a fun
Putting smiles in the face of Students
Writing your project with precision
AFRICA'S LARGEST ONLINE
PROJECT ARCHIVES
Search Projects materials, seminars, assignments etc.
Get Professional help. Access 10000+ Works,
Over 300 Software Implementations.
...Get It Done In Record Time
DEPARTMENTS
agricultural education proje ... 0
accounting project topics 669
accounting projects topics & m ... 70
agricultural education project ... 13
agricultural engineering proje ... 33
applied biochemistry projects ... 6
banking and finance project to ... 196
biochemistry project topics an ... 2
biology education project topi ... 12
building technology project to ... 3
business administration projec ... 458
business education project top ... 5
business management project to ... 448
chemical engineering 22
chemical pathology projects to ... 6
chemistry project topics and m ... 17
co-operative and rural develop ... 99
co-operative economic and mana ... 99
computer science project topic ... 351
crop science project topics & ... 1
education project topics and m ... 319
education projects topics and ... 38
electrical and electronic proj ... 54
english language and literatur ... 7
estate management project topi ... 25
fashion design technology proj ... 12
fashion design technology proj ... 10
food science project topics an ... 199
geoinformatics and surveying p ... 4
home economics education proje ... 6
igbo language education projec ... 3
industrial chemistry project t ... 15
industrial chemistry projects ... 29
information technology project ... 2
insurance project topics 63
international relation project ... 26
introductory technology educat ... 1
latest mathematics education p ... 10
library and information scienc ... 2
list of chemistry science educ ... 8
list of computer science educa ... 45
list of economics education pr ... 16
list of english language educa ... 29
list of integrated science edu ... 25
marketing project topics 285
mass communication project top ... 272
mathematics projects topics an ... 1
mba projects topics and materi ... 81
mechanical engineering project ... 128
medical laboratory projects to ... 10
medical radiography and radiol ... 8
microbiology projects topics a ... 104
nursing project topics and mat ... 4
nursing projects topics and ma ... 15
nutrition and dietetics projec ... 22
office technology and manageme ... 128
peace studies and conflict res ... 19
philosophy projects topics and ... 7
physical and health education ... 5
physics options project topics 17
physis education project topic ... 2
physology project topics 3
political science project topi ... 6
printing technology projects t ... 2
projects topics and materials ... 2
purchasing and supply project ... 43
quantity surveying project top ... 1
sociology & psychology project ... 4
sociology and anthropology pro ... 17
statistics project topics and ... 52
thesis topics & materials for ... 11
thesis topics materials for fa ... 0
Select Department
Marketing Research As A Tool For Profitability In The Service Industry A Case Study Of Aiico Insurance Company Operations In Enugu Metropolis
Get the complete project material now!

User Guide before placing order for complete project topics and materials:

It is important that the researcher knows exactly what he is go to do so that I could be done effectively.Make sure you update any research work you purchased on our website. Do not copy word for word. Using our research is legal. Our aim is to provide project topics and materials for easy access to information and to reduce stress of moving from one book stop or library to another in the name of sourcing for one research textbook or research materials. We do not encourage any form of plagiarism. Our aim is to generate research project ideas for students. The contents of the project material provide will help students to generate new ideals. Every researcher must look around him in his immediate environment and beyond to improve the work. To order the below complete project materials, Make payment deposit or cash transfer into any of the following banks:

GTBANK

Account Name: Chi E-Concept Intl, Account Number: 0115939447

Other payment options

We accept cash deposit, cash transfer and Bitcoin.

Click on download to complete your order.Call or Whatsapp +23408063386834

CLICK HERE TO CHAT WITH OUR CUSTOMER SUPPORT TEAM ON WHATSAPP

MARKETING RESEARCH AS A TOOL FOR PROFITABILITY IN THE SERVICE INDUSTRY A CASE STUDY OF AIICO INSURANCE COMPANY OPERATIONS IN ENUGU METROPOLIS

 

ABSTRACT

 

Marketing research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company. (Koller P 2003).

This study focused on marketing research as a tool for profitability in the service industry, a case study of AIICO insurance company operation in Enugu metropolis.

In order to carryout the study, the following objectives amongst others were states;

  • To ascertain the proportion of marketing bodget allocated to the marketing research activities in a given period in AIICO Insurance Company.
  • To ascertain, if the marketing research activities increase the number of policy holders in AIICO insurance company.
  • To ascertain whether marketing research contributes to increase in profit in AIICO insurance company.
  • To ascertain whether marketing research creates awareness of AIICO insurance company and its services.

Based on the stated objectives, three hypotheses were formulated, they are:-

Ho: Marketing research does not create awareness of AIICO insurance company.

HI1 Marketing research creates awareness of AIICO insurance company.

Ho2 marketing research does not increases the number of policy holders

HI2 Marketing research increases the number of policy holders

Ho3 Marketing research does not increase profit of AIICO Insurance Company.

HI3 Marketing research increase profit of AIICO insurance company. 

Extensive literature review of textbooks, newspapers, magazines business journals and some past projects of graduated students who studied related topic of the study was carried out to source secondary data. Primary data were source from respondents comprising policy holders, management and relevant staff of AIICO insurance company in Enugu.

The sample size was determined using Topman’s formular for the policy holders of AIICO Insurance company while a census was conducted for management and relevant staff of AIICO insurance company in Enugu.

The researcher used chi-square (x2) statistical method to test the hypotheses which were earlier formulated for the study. The data collected were presented on statistical tables using frequencies and percentages for analysis.

In the process of the study, the following finding were revealed.

  • That AIICO insurance company at one time or the other engaged in marketing research activities.
  • That the company has a marketing research department at the headquarters only but not at the zonal offices.
  • That marketing  research activities increase the number of policy holders.
  • That marketing research activities increase the profit level of the company.

In view of the releasing findings, recommendations on how to apply marketing research for the success of the company were offered.

In conclusion, the ultimate aim of using marketing research is geared towards customers satisfaction at a profit to the company, so AIICO Insurance Company is advised to continue putting marketing research into effective use.

 

CHAPTER ONE

INTRODUCTION

   BACKGROUND OF THE STUDY

 

Organizations uses many types of resources to function. One of the most valuable, often the least understood, is their knowledge base. Management is unable to take formed decisions without knowledge and the quality of that organization knowledge, skills, resides primarily in employees but can also be collected in data bases, reports patents, plans, budgets, memoranda and a variety of other documents. The knowledge base covers all aspects of the organizations activities products, technology, human resources, finance, sales and marketing and is a wasting asset requiring constant dating, improvement and extension to keep abreast with changes in the operational environment.

Nowhere is the need for detailed, accurate and up to date knowledge more evident than in the marketing function. The markets have two characteristics, which distinguished them from the other environments in which companies operate. They are:

  1. In variable dynamic and are tending to become more so in response to increasing pace of technical development, competitive pressure and a continual uplift n customers’ expectations.
  2. Change is caused by a wide diversity of factors most of which are beyond the control of any single supplier.

   Marketing therefore operate in an inherently unstable environment and it is all too easy for companies to lose touch with conditions in the market they service.

Furthermore, in the quest for growth or even to defend existing market positions, the problem tends to be exacerbated by the fact that companies continually need to do something new. They develop new strategies launch new product, target new market and initiate new service packages – all of which push them into increasingly unfamiliar marketing  territory. 

Marketing knowledge is created from a number of inputs experience and expertise are critical, as are experimentation and analysis, but the key dynamic ingredient marketing information derived from sources within the market place itself, notably customers, competitors and distributors.

Marketing research is the marketing information. It is defined by the American marketing association as the systematic gathering, recording and analyzing of about problems relating to marketing of goods and services. Marketing research can also be defined Kolter (20003:129) as the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.

Marketing research is very important to any organization or company because it is through it that we know the feelings, wants, needs, perceptions and preference of customers/consumers knowing that consumer/customer is the focal point of marketing and every organization or company will always want to satisfy their customers/clients in other to continue in the business. It is a link between the customer and the general public to the individual, organization of the business firm and also identify and define marketing opportunities, trends, threats and measurements.

Therefore, this study try to find out how marketing research is carried out in the service industry – people always believe that marketing research is more suitable in product/goods offering company and it is not well practice in the service industry due to its certain characteristics.

Service can be defined as any act or performance that one party can offer to another that is essentially intangible and does not result in the ownership anything. (Kotter 2003) services have four major characteristics that greatly affect the design of marketing programs: intangibility, inseparability, variability and perishability. Services also vary as to whether they are equipment based or people based. It requires the client’s presence and differs as to whether they meet a personal need or business need. Services provided differ in their objectives (i.e. profit or non profit) and ownership (as to private or public).

These have made people believe that marketing research in the service industry – insurance company, has resulted from the growth of marketing management and marketing concept. The basic purpose of applying marketing research is to reduce marketing management risks and consequently embrace higher marketing efficiency. Marketing research is also used in situation of disagreement or uncertainty amongst the marketing decision or where the available marketing research techniques will increase the amount or reliability of marketing information decision in service industry.

There are certain factors in service industry especially in insurance companies that affect the profitability of the firm such as the impact of legislation and tax concession, size and distribution of population, national income, competition, inflation, use f mass merchandising, packaging policy approach etc it is through marketing research that these problems will be solved and thus bring profit to the company. The success of any business firm depends to a great extent on the efficiency and aggressiveness of the entire marketing organization operations, and the effectiveness of the management, working together as a team, towards the accomplishment of the specific and broad corporate goals and objectives.

AIICO insurance company a service industry was established in 1963 as a collection centre, and incorporated in 1970, converted to a public liability company in 1989 and was listed on the Nigeria stock exchange with effect from 3rd December, 1990. To date, AIICO has become the highest life insurance in Nigeria and a major underwriter for general insurance business. The company’s success has been the result of its ability to evaluate its potential set realistic goals and take necessary action to achieve them. They have a separate marketing department and a research department that undertake the marketing research work. These activities have to a large extent influenced the overall performance of AIICO insurance company Nigeria.

 



Get the complete project material now!
CUSTOMER'S REVIEW
blessing
I so much appreciate, keep the good work on.
excellent customer support
I am happy, my project was great.
ohikhueme sylvanus
Please i need theses on Leadership and good governence in nigeria: Imperative of security in nigeria, please i would glad if my message is answered immediatly. Thanks
Tony
This site have all scholars needs for their project, i can testify to that.
Rita
A site with great relief to scholars.
1 - 5 of 96 Reviews
PROJECT INFO

UID : 10629 PRICE : 5,000.00

Download Now
Related Topics
marketing research as a tool for increased profitability (a case study of nigerian bottling company enugu)
impact of marketing research in a small scale company: a case study of juhel pharmaceuticals enugu
a critical review of accounting system in nigeria insurance industry (a case study of industrial and general insurance company ltd)
design and implementation marketing research information system.(a case study of nigerian bottling company plc)
advertising an effective promotional tool for marketing new product (a case study of nasco marketing company)
marketing of hotel service in enugu metropolis (a case study of modotels limited)
the effectiveness of consumer service delivery in the fast food industry (a case study of mr. bigg’s enugu metropolis)
the effectiveness of consumer service delivery in the fast food industry (a case study of mr. bigg’s enugu metropolis)
the impact of marketing logistics on corporate profitability in the brewery industry (a case study of nigeria brewery plc enugu)
the impact of television advertising on the marketing of gsm. service in enugu metropolis (a case study of mint plc)


Payment Name Phone Number
Email Address Payment Date
Gender Payment method