NATIONAL INSURANCE ACADEMY

PUNE

 

P636 EMERGING TRENDS IN MARKETING FOR MARKETING MANAGERS (LIC)

(2023-24)

 

Background:

 

The dynamic nature of marketplace makes it an ever evolving subject. The marketers, world over, have to constantly reach out to the customers especially the millennials playing a big role in almost all business activities. The insurance industry has a big challenge on its turf. The easiest way to reach out to these millennials is to be where they are and it is on social media platforms. Social Media is already a game changer for companies.

 

Marketing executives need to be equipped with the tools and techniques of digital marketing to integrate digital disruptions into their marketing plans. Insights into digital marketing shall enable the marketing executives to get enhanced performance from their digital activities while reducing the cost of their digital campaigns Awareness in the trends and practices in digital marketing including social media marketing will equip them to bolster the sales volumes and also pave way for the increased brand value.

 

One of the most important aspects impacting an organizations ability to stay ahead of the market is to have a comprehensive understanding of its competitors, the state of its industry, and the changing consumer landscape as a whole. With this information, the marketers can evaluate their tactics and optimize future campaigns based on their own insights as well as those from across the entire industry.

 

The Life Insurance industry continues to remain one of the fastest growth markets. It is expected to expand at a CAGR of over 7.00% the FY2019 to FY 2024 after the effects of the pandemic and favorable demographic factors and economic recovery.  It is the customer centric activities which will gain prominence and stay ahead of competitors.  Market intelligence systems can be used to identify business opportunities and avoid threats.  Huge data and information are available and prioritizing information is vital.

 

Sound marketing strategy of an organization depends on superior market intelligence. By collecting and analyzing contextual data about customer and industry trends and behaviors, marketers can gain a holistic understanding about what is and what isn't working. This can give businesses an important advantage over competitors, educate them about their target audience, and evaluate insights into their various products.  Hence collection and analysis of market intelligence should be done properly.

Objectives:

 

At the end of the program the participants would be able to understand: 

 

  Concepts of Digital Marketing & E-commerce

  Concepts of nurturing a brand

  Customer Behavior

  Global trends in life insurance

  Social intelligence.

  Components of market intelligence

  Market research to drive organization strategy.

  Consumer expectation

  Emerging trends in distribution

  Products of competitors

  Dynamics of the countrys economy

  Regulation updates.

 

  Contents:

 

  LIC in the listed environment

  Opportunities in the current and future financial markets.

  Demographic changes and Life Insurance

  Customer Engagement

  Business Communication, Ethical Communication and Business Ethics

  Corporate Governance

  Change Management

  Digital & Social Media Marketing

  Social Marketing

  Brand management

  Blue Ocean Theory

  Leading a Marketing Team

  Managing the opportunities in multi-distribution channels

  Global Trends in Marketing- Moving towards digital

  Market Research (Data Collection, Data Analysis and Practical Way of Implementation)

  Current Economic Scenario.

  Regulations Update on Marketing -Standardization of Pension, Micro and Health Insurance Products

  Consumer Buying Behavior

  Changing Customer Profile

  Competitive/ Competitor Intelligence

  Leadership Skills Overview

Participants Profile: Marketing Managers to be nominated by HRD Department of Zonal offices of LIC of India.

Duration5 days

Dates: 19.06.2023- 23.06.2023