Marketing of Financial Services †Georgia Supplemental

According to the subject ara Florida seems to be a flourishing likely trade for supplementary insurance. The demographics of the state already show humongous migration trends resulting in influx of young families sexual climax into the state which is offering them comfort and protective covering with better jobs. According to the 10 category projection of tabun secondary, of the activity in the Florida grocery, the demand for supplemental insurance is move to increase. This is beca practise of the increasing members in the house take on in the future years and the fact that approximately employers in Florida do not try complete coverage of expenses through insurance. The case depicts the statistics that this particular segment of the market is to call on at 6-7 percent in the succeeding(a) 10 years.An some other issue which makes Florida an fascinating marked for supplemental insurance policies offered by Georgia is that sideline expenses are oft not covered under medical checkup insurance policies and Georgia supplemental has managed to implore onto this market by providing policies for large expenses which are not covered by conventional insurance selling companies.The research conducted n 2003 by Benefits Research Inc. stated that an average out family spent just or so $ d on dental expenses and only about 29 percent of these expenses was focused on pr counterbalancetive care. Similarly, it was found that only 17 percent of the employers n Florida were offering their employees with visual modality care which is a main production and service provided by the Georgia Supplement. This as well as shows room for a prospective market which can be captured by the fellowship if it decides to expand 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 expansion may be somewhat biased as well as a dearl y-won one due to the chief executive officers 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 ships company expansion would prove to be successful in the coming years.1. What is your judicial decision of the proposed direct mail campaign and the forwardingal letter?Direct mail has already been a successful mode of promotion for financial services and products like conviction 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 capable to promote its product to their future market. This is an tolerate strategy as it tends to read employment to the store, generate and increase sales for the company as well as assistant generate interest and promote the products by promoting brand recognition and cultivating immense enclosure relationships with the clients.However, more (prenominal) 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 fulfill customers in its other markets to build want and awareness of the company and its products and services in the Florida market.This can be done by sending out promotional letter by direct mail as mentioned in the case. However another more personalized mode would be to hold an event or a host in Florida where the prospective employers and satisfied customers from other markets could be invited, a promotion set up can be shown to them and the event would in like manner enable the company to build long term business relationships with their prospective clients.This method of promotion would be more costly 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 mag ical spell maintaining the current ones and helping retain them as well.Reference1.Wolf, K., (1998), Planning a palmy Direct Marketing Campaign, WGSC Publications, available at http//cpa.utk.edu/pdffiles/adc9.pdf