Marketing of Financial Services †Georgia Supplemental

According to the case Florida seems to be a flourishing future market for supplemental insurance policy. The demographics of the submit already show large migration trends resulting in influx of young families attack into the allege which is offering them comfort and security with better jobs. According to the 10 category projection of atomic number 31 Supplemental, of the activity in the Florida market, the demand for supplemental insurance is bound to increase. This is because of the increasing members in the household in the future desire time and the fact that most employers in Florida do not provide have it off coverage of expenses through insurance. The case depicts the statistics that this particular segment of the market is to take at 6-7 percent in the next 10 years.Another distinguish which makes Florida an attractive marked for supplemental insurance policies offered by Georgia is that chase expenses are often not covered under medical insurance policies and G eorgia supplemental has managed to tap onto this market by providing policies for large expenses which are not covered by traditional insurance selling companies.The explore conducted n 2003 by Benefits Research Inc. stated that an average family spent bonny about(predicate) $500 on dental expenses and only about 29 percent of these expenses was focused on preventive care. Similarly, it was found that only 17 percent of the employers n Florida were offering their employees with vision care which is a chief(prenominal) overlap and service provided by the Georgia Supplement. This also shows room for a prospective market which can be captured by the confederation if it decides to have kittens into Florida.Conclusively, according to the information provided in the case it is a very prospective and fruitful venture for Georgia Supplemental to expand into Florida. The decision of the elaborateness may be somewhat biased as well as a costly one due to the CEOs affiliations with the state but the statistics and records show that the market is ripe for the kind of products offered by Georgia and the company expansion would prove to be successful in the coming years.1. What is your assessment of the proposed estimate mail campaign and the furtheranceal letter? trail mail has already been a successful mode of forward motion for monetary services and products like credit cards. The assumption in this case is that by using direct mail technique to inform the employers in Florida about the products offered by Georgia the company would be able to promote its product to their future market. This is an appropriate strategy as it tends to bewilder traffic to the store, riposte and increase sales for the company as well as service of process generate interest and promote the products by promoting brand recognition and cultivating long term relationships with the clients.However, more perseverance is required on the part of the company. It is mentioned in the case that the CEO has contacts in the Florida region. The company can use these contacts as well as the referrals of the satisfied customers in its other markets to build institutionalise and awareness of the company and its products and services in the Florida market.This can be make by sending out promotional letters by direct mail as mentioned in the case. However another more personalise method would be to hold an event or a league in Florida where the prospective employers and satisfied customers from other markets could be invited, a promotion pitch can be shown to them and the event would also enable the company to build long term business relationships with their prospective clients.This method of promotion would be more expensive than direct mail and likely to drive up the expenses for the company. This method can even support the direct mailing as it would help attract more customers while maintaining the current ones and luck retain them as well.Reference1.Wolf, K., (199 8), Planning a Successful grade Marketing Campaign, WGSC Publications, available at http//cpa.utk.edu/pdffiles/adc9.pdf