islamic insurance please answer as soon (A)ABC Family Takaful Company (ABC Takaful) is a newly established operator whichis part of a large Financial Group (FG). FG is a traditional conventional financialservices provider, but also provides Islamic services in the areas of IslamicBanking, Islamic Įnvestment and Islamic Wealth Management. The companywould offer a range of innovative and comprehensive family takaful solutions andservices for the retail and corporate sectors, to be driven by strong Shariahprinciples. ABC Takaful shareholders comprises FG Bank (55%), FG ConventionalAssurance (15%) and JV Insurance company (30%). JV. is a global reputableinsurer which has takaful subsidiaries in Indonesia and the Middle East. Being the"new kid on the block" it was necessary to differentiate ABC Takaful from othercompetitors. Product uniqueness can certainly appeal to most customers.When ABC takaful surveyed the market, it noted that many takaful operators wereoffering regular investment link (ILT) products at that time. These ILT was able toattract the interest of the customers but have long term tenures albeit, participantscan withdraw whenever they choose to do so. Another issue with this ILT productis that participants will have to bear the investment risks should the marketbecomes bearish and there were no guarantees.Formulate a starting marketing strategy which includes possible family productsolutions and services, and distribution models for the launching of ABC Takaful. |

ABC Family Takaful Company is a newly establishes a operator which is a part of a large Financial…

Answered: Formulate a starting marketing strategy…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

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2. ‘Ukay-ukay’ Business. There are a lot of ukay-ukay shops in the country. Theyare filled with second-hand clothes, slight factory defects, and out-of-season fashion. Somebuyers are fond of buying ukay-ukay products because of its affordability and availability ofbranded products at low cost. For instance, instead of buying P1, 999 Levi Jeans on malls, you can buy second-hand Levi Jeans at P400 in Ukay-ukay shops. How do retailers pricethese Ukay-ukay products?______________________________________________________________________________________________________________________________________________________________________________________________________________________________3. You probably enjoy seasonal sales that takes place at certain times of the yearsuch as ‘Christmas Sales’ and ‘Graduation Sales’. Why do retailers run these sales eachyear? Do you think this strategy is effective? Why or why not?_
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Formulate a starting marketing strategy which includes possible family product solutions and services, and distribution models for the launching of ABC Takaful. |