Executive Summary Essay Example

Executive Summary Essay Example Executive Summary Paper Executive Summary Paper As health insurance marketing is a highly competitive field, society is glimpsing the first indications that only innovative marketing techniques and tactics will win out over the competition. Of foremost importance to this situation is comprehending which segment of society prefers which marketing strategies. Because time is of the essence and an abundance of information can be found on-line, marketing agencies are seeing that the emerging health insurance marketing strategies must also use the web to obtain information about its potential clientele as well as provide information to users. B. Current Marketing Situation a. Market Description It is common knowledge that with skyrocketing health insurance costs, individuals seeking insurance recognize that it is vital to obtain it while ensuring that they do not get ripped off in the process. Marketing for health insurance attempts to show consumers that they can get a good deal for their money while having easy access to medical facility as they are needed. In addition, consumers who research on the web acknowledge that they are looking for insurance which has no gaps, allows you to pay for what you need with no frills or unnecessary extras, and you receive treatment as promised. For the elderly, receiving treatment is essential and often they are faced with â€Å"red tape† or have to jump through hoops while attempting to receive the benefits they are paying for. (amazon.com/Health-Insurance-Without-Getting-Ripped-Off/dp/0979478103/ref=sr_1_45?ie=UTF8s=booksqid=1238539157sr=8-45#reader) b. Product Review: Online health insurance marketing is a new frontier. It allows for feasible and easy access to information. As a platform for communicating insurance rates, premiums, co-pays, benefits, opportunities, referrals, and provider information, it gives an element of security for consumers wanting to research and see such information in clear writing (heartland.org/policybot/results/424/FreeMarket_Health_Insurance_Flourishes_Online.html). With online, consumers can also be provided with information which has been translated into their native language as well. For some cultures, they might feel intimidated calling health insurance representatives upfront because of language barriers. This new marketing tool will allow them to grasp at a new wealth of information at their disposal prior to reaching out to representatives who are fluent in their specific language.   They can get quick individual or group quotes or even requoted if they are looking to modify their potential plans to better fit within the plan rates that they are seeking. (sasid.com/products/Health/basic_health_insurance.htm) In addition, sometimes consumers find that information about insurance is diluted and thus causes ample confusion, which is why marketing strategies for health insurance predominately depend on using financial strategies like referrals, leads, and other such methods. Because we want to insure that consumers see added value to our online services we have had to reinvent the idea of marketing health insurance by focusing on specific market segments prior to branching out to others. For example, it is common place for the younger generation to lose coverage upon graduating from high school or upon reaching 18 yrs of age. This generation is also highly focused utilizing web-based sites such as facebook, linkedin, shutterfly, etc.. Our product will advertise on such websites in order to coax such individuals to hyperlink their pages into our website or delve further into our web-based site for specific fact finding information. We also advertise online via recorded radio broadcasters and weekly newsletters because if you don’t need or want insurance now that doesn’t mean that you won’t require it in the future.