Management Decision Case: Advertising to Gain or Keep Market Share in the Hypercompetitive Insurance Space
1. What types of advertising are being used by these insurance companies? Pick two of the insurance companies listed, go online and review their current ad campaign, describe their ads, and then indicate if they are using product, institutional, pioneering, or comparative advertising. Be sure to justify your selection.
2. Many of the ads for insurance referred to in the case are primarily transmitted to the target audience using television as the medium. However, the proliferation of DVRs means that fewer people are actually watching the ads in real time and instead are fast-forwarding through them to get to the show content. With that in mind, what other media do you recommend that these companies use to reach their target audience? That is, how should they integrate the marketing communication?
3. Take a closer look at State Farm. What advertising strategy do you recommend it follow to distinguish itself from its competitors? Be sure you discuss the type of advertising, the executional style, and the type of media along with a justification for your choices.