Browsing by Author "Misai, Msengi John"

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    Assessing the marketing strategies for competitiveness in the insurance market in Tanzania,
    (university of Dar es Salaam, 2010) Misai, Msengi John
    The study aimed at assessing the marketing strategies required for competitiveness in the current insurance market in Tanzania. Specifically, it intended to identify factors that determine competitiveness in the insurance market, assess marketing strategies employed by the players of insurance markets and investigate the extent of the levels of agreement/disagreement among customers when receiving services from the insurance companies/brokers/agents. The general method employ to achieve these ends was curvey. A combination of data collection techniques such as observation, questionnaires and interviews were used to ensure validity and reliability of the research findings. The results reveal that a large that a large number of potential players, public awareness toward insurance services, prompt and fair claims settlement, and products innovation, high rate of new entrants, effective customer care and ineffective regulation of the market are the factors that determine competitiveness in the insurance market. Regarding marketing strategies that are currently in place, the results show a number of methods that are used in the promotion, distribution, and pricing of insurance products, the range of products offered by the players as well as the methods of staff development in order to deliver quality services. The methods used for promotion, include magazines, fliers, brochures and business directories, television, radio, newspaper, internet and word of mouth. The distribution methods include direct selling/contacts, brokers, agents, advertisement, sales promotion through discounts and business profits. The methods for pricing are rating scales, location, past claims experience and risk situation analysis. Methods related to staff development are on-job training, seminars, workshops, consultation services and off job training. It was also revealed that a majority of the insurance players offer a wide range of products. These include motor insurance, health insurance, health insurance, public liability, fire and allied perils etc. Also, the study shows that there are significant levels of agreement/disagreement among customers when receiving services from insurance firms. The study concludes by providing some recommendations on how to enhance market effectiveness in various areas so as to provide quality services. These relate to public awareness, products innovations, customer care services etc. it also suggested that firm’s management should improve both on-job and off-job training methods for staff development.