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  • Essay / Progressive Insurance Marketing Strategies - 1415

    Marketing can be defined as the process of formulating and implementing the design, market positioning, advertising and delivery of products and services, as well as ideas aimed at establishing exchanges consistent with individual and organizational objectives (Principle of marketing). There are several techniques for selling a product in marketing: advertising, selling and distributing products or services to customers. The strategy of marketers is to attract potential consumers by using slogans, innovative packaging, having famous brand ambassadors and media promotion with the promise of meeting consumer needs. There are also many techniques developed by insurance companies. Progressive Insurance is a rapidly growing company that stands out through innovation. They have the saying “a leader in auto insurance” (Progressive.com). This article describes the company and the strategies implemented to attract consumers. It also focuses on building the company's brand through advertisements. With attractive offers and prices, Progressive Insurance strives to stay at the top with constantly evolving products and services. Currently, they offer best-in-class rates as well as 24-hour personal and online services to all their customers across the United States. Their customers can make a purchase either by placing an order over the phone, directly online or through separate insurance agents. One of these independent agents is Lujan Insurance, our family-owned insurance agency that has been in the field for 26 years. Progressive has been the best-selling insurance in our agency. Prices depend on the product chosen by the customer, the expected coverage, the discounts offered and...... middle of paper ...... in its field and in clarifying doubts that may arise in the mind of the customer. This decision removes all these doubts. This also has additional benefits. “Customers first visit the Progressive website to compare insurance prices, which may also lead them to make a purchase on the spot. There are better chances of conversion when Progressive is the first company to interact with the customer. (Progressive.com) This bold marketing move by Progressive would ultimately pay off in terms of new customers and increased font collections. “Our goal is to gain an edge over the competition by providing customers with exemplary products and services the way they want them, when they want them. This has been our core philosophy and it has helped us become one of the leading auto insurance companies in the country. (Progressive.com).