GEICO Case Study

GEICO has numerous strengths to enable its prominent position in the market. These strengths not only help it to protect the market share in existing markets but also help in penetrating new markets

Today, advertising is as much a part of our lives as breathing. Whether we’re driving, listening to the radio, or watching T.V we are constantly being bombarded by thousands of companies telling us why we should buy their products or services. Some advertisements prove to be effective, while others can be easily dismissed. One very popular industry in advertisement is auto insurance. Every year companies like Geico, State Farm, and All State invest millions of dollars, hoping to convince audiences that their service is better than their competitors. Because auto insurance is a requirement for every single individual who owns a vehicle it is a very competitive market where various ad campaigns can be found. State Farm stands out amongst

GEICO’s advertisement located in Men’s Health November 2016 issue targets car owners through the use of several tactics such as segmented targeting, hooking the audience, and appealing to the audience while prying for consumers to make the simple choice; to chose GEICO over their competitors. GEICO is the second largest and one of the fastest growing private auto-insuring companies in the United States (GEICO, 2016). The target audience is reached through the imagery of a stack of cookies to correlate the greed and desire received from the food into the experience provided by insuring your car through GEICO. Additionally, GEICO strives to target customers through attempting to cater to their needs with the intended end goal of persuading them to choose GEICO over the “other guy”.

Geico usually offers the best prices according to a report posted at Nerdwallet.com. [3] geico also

The process that Geico follows for providing affordable car insurance to fulfill a wide range of customer needs is comprised of four core steps. Regardless of which medium of contact a customer uses, Geico will provide answers to an in depth situational analysis questionnaire that gathers data on personal driving and vehicle history. The following step allows customers to specify their individual needs for coverage. These responses are then used to generate a variety of insurance options. Finally, the customer works with an insurance underwriter to revise and then finalize their selection (Lastname, J). The culmination of this process ensures every customer receives their auto insurance at the most reasonable price available, without sacrificing any quality.

GEICO’s culture is based on creating an environment where employees enjoy going to work, take pride in what they do, and use their diversity, drive, and dedication in providing the best possible customer experience for its clientele. This is accomplished by providing employees with outstanding training, mentoring and continuing education, thus creating a truly supportive and empowering team-oriented atmosphere. The values and practices at GEICO directly align with my own beliefs and attitude, thereby, I believe that I would be a strong asset towards helping GEICO continue to grow and prosper.

Out of the many appeals that companies use to advertise their product or service, the need to achieve is one of the most commonly seen. In our highly competitive society, everybody is trying to get ahead. Everybody is looking for that little advantage that will push them forward. The appeal of achievement correlates with success and winning, ideas that represent the outcomes of hard work on which people like to pride themselves. In many of their ads, Geico likes to tap into our competitive nature by offering us incentives, such as saving time and money, which speak specifically to our consumer culture. Such a tactic proves to be effective because for the most part, consumers in our ambitious society

The company GEICO was founded in 1936 by Leo and Lillian Goodwin to insure government

GEICO, like most companies uses social media. Social media helps build connections from the consumer's thoughts about the GEICO and to upload pictures, music, and videos. GEICO has a “unskippable” campaign. For example, when someone is waiting for a their favorite youtube video to come on and GEICO ads pops up, but you end up watching the whole advertisement.. Most ads are skipped over right away, GEICO does a outstanding job of holding the viewer's attentions and making them forget what they were originally going to view. Geico is on campaigning on sites like Facebook, Instagram, and Pinterest. For example, GEICO communicates relevant holiday tips, with a funny twist. It's time for pumpkin pie! Let's get racookin'- A video posted on Facebook

Oh! I also compiled more articles that you should read before buying any auto insurance to avoid regrets later. You can view them at my site, look for the link at the bottom of this article.

Geico, Inc. is an insurance company doing business in the State of Texas and may be served through its registered agent James G. Brown at 4201 Spring Valley Road, Dallas, Texas 75224.

Next, Geico’s marketing element of place needs to be reviewed. Geico originally started with marketing its insurance in Washington, D.C. where there was a large concentration of government employees. In 1964, Geico Insurance became publicly traded and expanded its insurance offerings. Now, Geico Insurance is offered in all states. Geico implements this element of the marketing mix with a direct channel of distribution. The product or service goes from Geico directly to the customer. This unique approach is used by Geico as most insurance companies in the industry use agents to sell their product.

When I purchased my new car, I realized that I required cheap car insurance. In any case, when I was hunting out down a decent strategy, I understood that it is not as simple as it appeared. There are such a variety of organizations around that I can get my arrangement from, and I don't know which one is the best for me. This is the motivation behind why I considered utilizing the web to locate the right approach for my vehicle.

a very large product depth since they offer such a wide range of insurance policies. GEICO’s brand facilitates customers to purchase. GEICO’s brand is easily recognized due to the large

     Revenue generated by the auto-insurance industry is in the billions. According to Automotive News, the personal auto insurance business is a nearly $160 billion-a-year industry (Stoffer, 2005). Thus, many organizations, not just the auto insurance industries themselves, have generated