Allstate Case Study
How does a company known for being conservative attract a non-conservative target market? Since being the founded in 1931, Allstate has been one of the leading companies in the insurance business acting as a leader in sales while remaining vocal about increasing safety processes. Starting in the 1960’s Allstate began promoting the customers safety by playing a role in convincing governments to make seatbelts mandatory and then again in the 70’s to 80’s in promoting airbags. Allstate’s motto “You’re in good hands” along with their ability to remain in a positive public light for many years has provided the confidence customers want in an insurance company. Allstate offers many types of insurance including home, rental, auto, life in addition to various recreational vehicles, motorcycles included. Slide 3-29 Estimating Current Demand: Total Market Potential With 9 million motorcyclists registered in this country this became a market that Allstate developed a heightened interested in targeting. After initial data collection they determined that they only provided insurance to a single digit percentage of this market. They began their campaign by simply trying to create awareness that they sold motorcycle insurance. The number of registered motorcyclists along with registered bikes would allow Allstate to help determine their total market potential. As many motorcyclists own multiple bikes this would need to be accounted for in estimating the potential number of buyers. Industry sales would then need to be looked at as not every motorcycle owner purchases motorcycle insurance, whether they are currently not using their bike or due to a disbelief in the need for insurance in general. This additional data could also be provided from surveys of buyer’s intentions targeted at those with a motorcycle license or those who have recently purchased a motorcycle.
Slide 3-7 Database Management
Marketing and selling insurance is very different...
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