The role of client insight in maximising the effectiveness of a client centric marketing strategy at Sanlam.
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Date
2005
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Abstract
This study is about how the use of client insight can maximize the effectiveness of a marketing strategy in an organization. During the study an extensive literature review was done to investigate the role of management in creating a client centric culture by applying theories such as the Five-factor model of personality and the Full Range of Leadership Model proposed by Bass and Avolio (1994). Detailed review on the latest client insight theories and global trends such as neuromarketing, advocacy advertising and law of lens was explored. A client insight research survey was administered to investigate specific aspects of the client centric culture and the implementation of insight driven marketing strategies within Sanlam. The survey found that there is high level of awareness of client centricity within the organisation. However, the implementation of client insight driven strategies in most departments surveyed was unfavourable. Areas identified for improvement were the need for greater awareness, usage of client insight related services and a more active role of management in promoting client centric strategies. Best practices, policies and recommendations with regards to management's role in using client insight, data mining and market intelligence was suggested for the enhancement of the marketing strategy. It was recommended that change agents be incorporated within Sanlam to catalyze the process of entrenching day-to-day client insight driven work performances and management transformation. Further investigation is suggested regarding the incompatible data management technology, which should enable the company to obtain a single view of the client as well as instituting the virtuous cycle in the market research and information department.
Description
Thesis (MBA)-University of KwaZulu-Natal, Durban, 2005.
Keywords
Sanlam., Insurance companies--Marketing., Theses--Business administration.