Implementing and handling the weakness of dog insurance in Thailand
Title: “Implementing and handling the weakness of dog insurance in Thailand”
Course: Master Thesis EFO 705, International Marketing, spring semester 2011 Mälardalen University, Sweden
Authors: Nipaporn Somboonrungrot SupapornTechavichian
Supervisor: Erik Bjurström
Examiner: Ole Liljetors
Problem: Despite the high potential growth of insurance industry in Thailand, dog insurance business need to continue to develop the service quality. To win the customer satisfaction through the service, the insurance company has to focus on its customers. The weaknesses of dog insurance in Thailand interrupt the increasing in market share in Thai market. Since there are the high potential customers whereas the competitors are low, dog insurance is still succeed in opportunities to expand its business. Furthermore, there will be continuing pressure from the external factors which they plays an important role in the development of the industry as a whole, as it directly controls both the number of insurers, the type of product and policy wordings that insurers may offer to consumers and the premiums that insurers may charge. However, besides the external factors, the internal feature can be managed by developing the marketing concept implementing the weak point.
Purpose: This research aimed to collect and analyze the data regarding to the weakness of dog insurance in Thai market. By composing the relevant research material and exercising the methods of data collecting, the appropriate marketing concept will be implicated to implement the technique and handling the current weak point of dog insurance. Method: This research principally based on qualitative research approaching to interview three groups of respondents to gain the information from company’s and customer’s perspectives. Further the reviews of literatures have been discussed to explore the worldwide market and exercising the appropriate marketing concepts being used. Analysis, interpretation and developing of market orientation, market configuration and some concept of consumer behaviors will be discussed to find out how possibly to handle the weakness of dog insurance.
Result: To maximize the ability to learn and understand the market, the insurance company should create the market orientation. The company will recognize the suitable marketing strategy undertook to its business. Further the market configuration management can play an important role to improve the company’s performance in which brings to a development in service quality. The concepts of consumer behavior also support the ideas of improving business performance especially, it enables the company to determine the connection within the network and develop to the long term relationship. In practice, it offers the ideas and techniques to implement its weakness of dog insurance in Thai market for future research.
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