International Marketing Plan For Allianz Marketing Essay

International Marketing Plan For Allianz Marketing quizAllianz is an world(prenominal) friendship specializing in the provision of pecuniary service, and the unions headquarters is in Munich, Germany. In the world(prenominal) problem world of today, companies earth-closetnot afford to just keep on home(prenominal), as this could lead to a decline in the companys reputation and business. skillful companies have to work hard on their outside(a) aim, to ensure that their stakes in the trade be maintained and involve upd. Founded in the year 1890, Allianz has branches in more than 70 countries and more than 180,000 employees worldwide. The company has acquired about 60 trillion customers to whom it provides property and casualty insurance run, health insurance, life insurance summation management and banking services. Allianz started to go international in the late 19th coulomb when the company opened a branch office in London. Allianz at a time similarly has bran ches in Paris, Italy, Great Britain, Netherlands, Brazil, Spain, and USA. Allianz hopes to expand into Eastern Europe and name branches either in Hungary or turkey. Since international merchandising innovations revolve about certain factors, the company pull up stakes have to complete a innate outline of the countries in question, so as to determine the feasibility and viability of international services in these countries. This report testament overly discuss the viability of clearing branches in the Turkish or Hungarian market place. The Company is aiming to establish the organic law in a global market. In fiat to do this an telling international market plan would have to be developed.Situation analysisThe goal of this international merchandising plan is the provision of specific counsellings for the companys trade activities. Research will be carried out in unlike beas uniform segmentation, merchandising, pricing dodging, targeting and noteing, furtheranceal strategy, control and implementation, in request to achieve define goals. This marketing plan will also detail what the company merchant ship achieve with such an international marketing strategy and hoe this plan will jockstrap in realizing company objectives.When an organization has decided that it is sound to go international and start operations in another country, it is necessity to define company policies on international marketing and the companys objectives for creating promotional campaigns that be efficient. As eagle-eyed as Allianz continues to expand superior services that are efficient, then the company will be better than a domestic company. As the global market continues to grow bigger and population increase continues, the company must engage in effective international marketing, in order to acquire and maintain more clients. (An in depth analysis of Insurance Industry)Interest in Hungary and TurkeyNumerous vari equals function deep down an international c ompany such as this, which deals in a global market. These vari ables can influence the companys strategy either directly or indirectly. world well implanted in various parts of the world Allianz seeks to adorn other markets in Europe.Marketing strategyAt Allianz, the goal of business is the acquisition of clients and maintaining these clients as customers. The companys international marketing strategy should reflect this, as the company continues to induce its reputation. The strategies that would be utilise for this international marketing will be a push/promotional strategy and pull/merchandising strategy. The push/promotional strategy will use the companys trade promotion activities and gross revenue force to create consumer subscribe to internationally. The pull/selling strategy involves expenses on promotions for consumers and advertising in order to build up consumer demand for servicesSWOT analysisThe sections highlighted below constitute the most relevant issues for Al lianz, and the success of the company.StrengthsThe companys strengths include a brand new international approach, provide ingest, targeted focus and marketing prowess. Allianz would have to take advantage of these strengths in order to utilize the companys opportunities and also manage threats effectively. Possible weaknesses to the companys international campaign are basically those problems inherent in new product and financial services marketing. Allianzs Strengths also includeProduct differentiationSuperior experience since the Allianz team is quite experienced in marketing, the company has to capitalize on this experience and bring it to bear on the international marketPopularity of the company fast companies like Allianz tend to have a kind of cult or customer loyalty for many years, which will be brought to bear on the international sceneWeaknessesLaunching new products and services internationally brings disadvantages of having to build a whole new market structureOpportu nitiesA ontogenesis international marketPotential for continued improvementVertical integrating Allianz also has the potential to integrate more services into its international presence and add more branches in various parts of the worldThreatsThe possible competition ensures that there would be other companies who will begin to offer similar services internationally. Unforeseen economic downturn may also reduce fluid/disposable income in spite of a gruelling domestic economy and anticipated continuous growth.Marketing mixThe company should Endeavour to employ a wide range of advertising promotions and communications in order to achieve set out international marketing goalsMarketing reckonThe companys marketing budget must be reviewed and the marketing director would assume responsibility for the budget, excluding the budget for developing the company website. The budget for the international marketing campaign needs to be evaluated on a quarterly basis, with adjustments made to media vehicles, advert schedules, and effective frequency as undeniablePromotionAs part of international marketing promotions, there should be grand PR parties and sports events held and organized for prospective clients. Local, national and international media will also be used and sales personnel will be stationed in target market locations like shopping malls and concerts and other relate eventsFinancial projectionIn order to make Allianzs financial services more appealing internationally, the company will have to look towards market segmentation. In looking towards market segmentation, the company will be able to identify specific customer characteristics of interest in specific financial services. As noted on the website of the Center for demarcation Planning, the pur cross of for segmenting a market is to allow the sales/marketing program to focus on the subset of prospects that are most likely to purchase what the company offers, and this can help to ensure the highest yield/return for sales/marketing expenditures, if done properly. (Center for Business Planning, 2009)The international marketing plan developed by Allianz must make a careful analysis of market research to lead to effectual decisions regarding the nature of the market in hungary, and of the potential clients in that country. To be able to satisfy the needs of these customers, the company must identify ways to earn its internal and external situation, including the market environment, the customer and the capabilities of the companyPEST outlinePolitical Factors change magnituded service tax on premium5% discount on corporate premiumHike in FDI marchesPricing control in general insuranceFavorable formula for rural insuranceEconomic FactorsIncrease in Gross internal SavingsSocial FactorsLow insurance coverageRise in elderly populationGrowth of insuranceTechnological FactorsAutomation of processesIncrease in CRM solutionsInternet driven information era(Insurance Industry An Analys is) execution of instrument and controlAllianzs international marketing efforts will be designed to instal and provide sales of goods and services. The marketing director will be in charge of tracking the various programs and changes might be made to the marketing mix if there are no appreciable results. Attention should also be given to most other factors like economic recession, passing low sales, and the expensive nature of certain types of media that will be used for the international marketing plan, as these factors might influence the budget and marketing mix.The companys international marketing efforts will be reviewed quarterly. Differences between revenue and sales goals during the first year of operation will be the main witness of comparison. Customers feedback will also be sought on marketing efforts and there will be surveys and focus groups organized to evaluate the efficacy of adverts. certaintyAssessment of external factors can help a company to position itself w ithin the environment in which the company operates. Although there are various macroeconomic factors that can affect a company like Allianz, the direction and strength of major industry shaping trends can be gauged by environmental factor assessment. This type of assessment may seem to pose a threat on some occasions but on the other hand, this assessment can create new opportunities. During the environmental assessment, it is racy to seek out new opportunities for business, feasible market places and other companies with which some form of cooperative arrangement can be built. In order to be successful internationally, Allianz needs to understand, anticipate and take advantage of the changes in the business environment. The international environment does have a big involve on the determination of market decisions. A large part of international marketing requires the scanning of the external environment that affects Allianz, so that the company can respond profitably to the trend s and market requirements of the targeted market.Allianz hopes to expand into Eastern Europe and establish branches either in Hungary or turkey. Due to Global currency issues and the effectuate of previous economic recessions which have created problems for the company and the services it renders, I deliberate that Hungary will be a more viable location for the company to invest internationally, as this country is more open to foreign investment. Industries in this country are also expanding and this represents more opportunity for the companys financial services. The blotto has also been advised to take a long term view. This is a good strategy for the company, as most emerging markets are long term based, to guard against the negative effects of economic downturns