Business Idea Presentation: Launching iamINSURANCE in Nottingham

Introduction to Business STUDENT NAME: ANDREEA ASANACHE STUDENT ID: OBC200093945 CAMPUS: NOTTINGHAM DATE OF PRESENTATION TEACHER NAME: Mustafa Kasim

Content 1. Introduction 2. Business Overview 3. Organisational structure 4. PESTEL 5. 4P’s 6. Marketing Plan 7. Financial analysis 8. Conclusion 9. References list

Introduction In this presentation I will discuss a business idea that I want to put into practice, namely an insurance company. From my point of view, it is a profitable business because there are many people who need insurance today, especially young people. Next, I will present the company data, the way I will finance my business, how much it costs, and whether it will be profitable.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Profile 1 Name: iamINSURANCE Location:Nottingham Business type: General Partnership. Industry:The insurance industry is part of the larger financial services industry. 1 Name: iamINSURANCE Location:Nottingham Business type: General Partnership. Industry:The insurance industry is part of the larger financial services industry.

DIRECTOR Accountant Broker Legally MARKETING

PESTEL Political Factors: Various political factors influence the operations of iamInsurance . Fiscal policies determine the taxation imposed on my company by the government. If the taxes are high, the cost of insurance increases, which results in financial constraints on the customers, limiting their purchasing power (Baltgailis, 2019). Economic factors : Inflation rates increase the cost of products lowering the company's sales. When inflation costs are high, consumers often find it hard to balance their incomes and expenses, most times inconveniencing consumers from their earlier budgets. High rates of unemployment affects the company negatively because the consumers lack the income to purchase the insurance policies. Social factors: Education creates awareness on the importance of insurance. Most consumers prefer insurance services which have led to the brand growth by offering customer-satisfactory services. The positive opinions on insurance encourages consumers to insure their property, which increase the company's sales and operations.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Technological factors: have had direct and indirect impacts on the company's operations. Technology enables the company to access marketing trends and consumer purchase behavior which helps them in designing appropriate insurance covers. Technology has led to efficiency in the company's operations and increased the productivity rates of the employees in iamInsurance (Yew, 2020). Environmental factors : which affect the company's operations. According to Martin (2021), the stakeholder and consumer values which helps in creation and maintaining of mutually benefiting relationships, informing decisions needed for the company's long-term sustainability. Weather conditions such as temperature and rainfall have little impact on insurance. Legal Factors: Consumer protection limits the company from sharing clients' information with third-party organizations. Regulatory bodies supervise and control the insurance companies. The bodies protect the public interest, minimize professional misconduct, and conduct unbecoming registrants (Leslie, 2021). Environmental regulations affect the company by influencing the levels of trade, location of the company operations, productivity, and even employment rates.

4P’S PRODUCT • iamInsurance is an insurance company that offers a cover in return of multiple regular premiums. My company offers many products in its marketing mix such as Life insurances, Medical Protection, which cover your medical expense, critical Illness protection for specific medical conditions, and accidental cover for road accidents, insurance for travel and lifestyle to protect belongings and oneself on a trip. PRICE • iamInsurance uses prices which helps it compete with the challenging competitors in the sector. The same life insurance can be offered by three different parties at the three different prices. Prices completely depend upon the kind of cover that is offered, the kind of client an insurance company deals with, how often they meet with accidents PLACE • A service can be booked online and an AIA agent can visit the party with all the valid information regarding a particular insurance scheme. PROMOTION • I have made a conscious effort to improve social media presence and since then have managed to garner huge attention from potential customers. The brand advertises on mediums like TV, radio, print and outdoors.

MARKETING PLAN

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

FINANCIAL ANALYSIS

Conclusion and we hope to attract the attention of investors. Ensuring customer protection is a priority for us. That's why our target customers are people of all ages, especially young people. We believe that insurance is very important in everyday life and in order to carry out this plan we need funding and we hope to attract the attention of investors.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

ANDREEA PRESENTATION

Related Documents