Marketing Plan Report(individual 60%)

ING : Insurance Market depth psychologyStudent s NameCourse code , Semester , ClassTutor28 July , 2008Table of marrow Content varletTitle Page .1Table of Content .2Executive Summary .3ING .3Market Dynamics .4PEST Analysis .6Michael Porters pentad Forces Analysis .8SWOT Analysis .9Conclusion .11Bibliography .12Executive SummaryInternationale Nederlanden Groep (ING ) redress segment has decided to work out the Australian market place . The market is characterised by a considerable necessity for emotional state policies and a low beg for non-life policies Furthermore , there is a world-wide negative perception of the familiar damages segment (Bowler , 1988 . The political sympathies policies favour the growth of life policy segment especially the restitution firms that lay scratch sullen a considerably fiscal base . The ICT sector is growth at a very fast rate which has been attributed to the government policies that are aimed at improvement of ICT (Alsem , 2007 . The messs perception to technology is quite a positive . The state s buying authority is quite large and the supply motive to the insurance firms is on the increase The Australian politics profligacy a great role in business as the business community contributes to over half(prenominal) of the Australian gross domestic product . The role of e-commerce in the insurance sector is yet to be appreciated full Furthermore , the population which is generally agedness and composed of for the most part of young people (16- 45 age ) presents a frank market for insurance firms (Bell Wanna , 1992 . The insurance market is characterised by change magnitude consolidation as local players seek to join multinationals in a bid to gather resources in to exploit the insurance market . The mass media is well developed and free of r edundant political pressure . The true capi! talist democracy that defines the Australian politics is designed such that power is decentralized to people by the use of able conventions in the society (Business monitoring device , 2008In conclusion Australia provides a viable and fit opportunity as far as the insurance sub-sector is refer .

The use of ICT and e-commerce aid the initial market entry and take in the relevancy of the approach to the industry in futureINGING (Internationale Nederlanden Groep ) group is a financial service provider of dutch origin (ING , 2008 . The group deals in banking , asset management and insurance . By the conclusion of 2007 , ING had up to 75 million clients . The clients are composed of man-to-man , embodied and institutional entities (ING , 2008 . The group has offices in Australia Belgium , Peru , Spain , India , New Zealand and in another(prenominal) destination spread all over the reality (ING , 2008VisionTo suitable the insurance needs of the population by in an competent manner (ING , 2008MissionTo provide a wide grade of insurance policies that are affordable and relevant to the needs of the general population (ING , 2008AimsTo provide a wide range of policiesTo mark off affordability of our policiesTo ensure relevance of our policiesMarket DynamicsIndustry DefinitionThe deregulation of the financial sector in the mid 80 s , caused two implications . First authorities open encouraged the participation...If you want to get a full essay, single out it on our website: OrderEssay.net

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