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Least used Promotional Mix

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1. Within a health benefits insurance company, what element of the promotional mix is used least? How could the use of this element be increased to create a more favorable promotional mix? What would you recommend, and why?

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Within a health benefits insurance company, what element of the promotional mix is used least? How could the use of this element be increased to create a more favorable promotional mix? What would you recommend, and why?

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Although advertising, personal selling and Publicity is used heavily in selling insurance products such as health benefits insurance, sales promotion via providing incentives to consumers is least used. This element can be effectively used to convert more prospects into customers by offering incentives such as freebies, discounts, etc. For example, a free Yoga or workout session at a nearby Gym or Yoga center can be a good incentive with health benefits insurance. Such small, inexpensive yet effective incentives and promotions can really augment marketing and promotion efforts of health benefits insurance company and can aid other elements such as advertising and publicity.

Such incentives will often trigger immediate purchase decision by the consumer and will attract him/her to buy company's health benefits ...

Solution provided by:
Sheetal Jain, PGDM
Education
  • BComm, University of Delhi
  • Post Graduate Diploma in Management (Equivalent to MBA), All India Management Association
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