Marketing and Management Report: AIA Australia Case Study

This report provides a comprehensive analysis of AIA Australia's marketing strategies. It begins with an introduction to marketing and management, followed by an in-depth examination of AIA Australia's marketing mix, including its product offerings (life cover, disability, etc.), pricing strategies, distribution channels, and promotional activities. The report explores AIA's mission and vision, and how these elements align with their marketing efforts. The main body of the report then examines the digital strategy employed by AIA Australia, including the relaunch of their website and the use of digital technologies to enhance customer engagement, personalization, and communication. It highlights the organizational planning process and how AIA aims to become more customer-centric by leveraging data, technology, and design. The report concludes with a summary of the key findings and insights into AIA Australia's approach to marketing and organizational planning within the life insurance industry.

Marketing and
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Marketing Mix of AIA Australian limited company..................................................................1
Organizational planning process.................................................................................................4
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
Marketing management is procedure of preparation, organisation, control and application
of marketing programmes to fulfil the demand of customers. Marketing and management both
are important terms of business operations. Marketing use by business to promote and selling
their products and services. In this term consisting of advertising, selling and delivering items to
client and other business (Gursoy, 2018). The other term of management use to manage different
activities in systematic manner that occur in the business. This report based on AIA Australia
Limited company which is situated in Melbourne, Victoria, Australia and important part of life
insurance industry. It is part of service industry that provide insurance services to customer and
established in 18 April 2000. In this report consist of marketing mix of company and analysis the
digital strategy for the business with the use of planning procedure.
MAIN BODY
Marketing Mix of AIA Australian limited company
AIA Australia Limited is insurance service sector organisation that provides life
insurance services. The organisation categorise its range of products and services such as:
For Individual: The products & services provide by company to individual life cover, total &
permanent disability cover, crisis recovery and income protection and its program AIA vitality.
For Businesses: There are including self employed entity expenditure insurance, group insurance
as well as partnership distribution.
AIA Australia is one of the nation's biggest group life insurance by market share and
operates closely with major financial institution and corporate partners. Moreover, AIA Australia
offers retail insurance items by financial consultants and a valued network of affinity partners.
 Mission: The mission of company to help all clients live healthier, longer and better lives,
motivating for positive life standards changes by AIA vitality program. Along with
devoted to supporting Australians protect the things that provide value most by across-
the-board and flexible life cover options.
 Vision: The vision statement of the business entity that Australia is become on of the
healthiest country in all over the world. Along with endeavour to supports of all
customers live healthier, longer and better lives, motivating positively lifestyle changes
by AIA vitality program.
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Marketing Mix:
Marketing Mix implies such tools or tactics that a company uses to sell its services or
products to customers that are targeted by company. Marketing Mix provides strategy regarding
how to put right product at right place and at right time. They mainly comprises of Product,
Price, Promotion and Place.
Marketing Mix in context with American International Assurance (AIA):
Product: Product refers to what is being sold by company while considering customers
demand. To successfully market a product, it is important to know what makes it unique while
competing with other products. There are many factors relating to products such as their features,
brand, quality, services and warranties. An insurance can be define as contract between two
parties who are willing to pay low amount instead of whole loss to other party, who cover that
loss on some conditions. American International Assurance in insurance sector is one of largest
financial institution in the world (Seyfi & Hall, 2020). They offers many products in its
marketing mix such as Medical Protection which cover expenses relating to medical, Life
insurance, accidental covers that provide coverage, travel insurance for oneself safety while
travelling and belongings and critical illness insurance against protection from specific
conditions of medical. All these covers are provided by American International Assurance in
return of multiple premiums that are regular. Besides all these insurance policies it has come out
with annuities, group schemes, pension plans, unit linked and special plans to benefits its
customers. Before providing these services to their clients AIA properly check their background
and take approval from them. Insurance act as breadwinner for family members as it is taken for
purposes of natural death or accident. American International Assurance has also come in
support of senior citizens, children, women and handicapped people by launching several
products for them.
Price: Price implies the cost of product or services that are offered to customers and they
willing pay for it. Professionals of marketing consider distribution, manufacturing, research and
development while considering the cost of a product. Usually companies go with value based
pricing in order tom maintain quality for customers. Pricing involves product payment methods,
positioning, discounts, allowances and value added or free elements. It need not to be cheapest, if
customer is satisfied with them they can even pay more. For American International Assurance
prices totally depend on, to whom they are selling their products and what cover is being offered
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to them. The policyholders have to pay premium either half-yearly, quarterly, annually or on
monthly basis in some cases. AIA come out with affordable prices for their services as there are
different competitors in market. For this management fixes premium for different policies
relating to particular period. It has to do complete break analysis for number of customers who
actually needs coverage. Customers finds full values for American International Assurance
products as it provide quality for its services and has good brand value. The management of AIA
takes decisions regarding premium mode, return on investments, premium level and
commissions (Marketing mix of AIA. 2020).
Place: AIA insurance enjoys a strong presence at world wide level and also at upcoming
economies of pan Asia. At this region require a effective insurance system is immense and most
of the insurance is bring out by online mediums. These services can be looked at online activities
and AIA agent where visit the party with all the authentic information in regard of insurance
scheme. Due to most of vitality reward partners are addressed in Jabododetabek, Medan,
Bendung and surabaya will be introduced in the first year and other 3 cities beginning from the
2nd year.
Promotion: The brand is popular known as the Real life organisation, advertise and
promote the items on different platform underneath the same name. They have generated a
conscious effort in order to enhance online presence on social media and arranged to garner in
broader attention from proposed clients. For the brand advertisement used different way such as,
radio, television, print media and outdoors that based on nation, location, city and different
traction that enjoys in particular area. For the promotion of product selects internal and external
way that mentioned below:
 Internal promotion: In this type of promotion plan to give away free vitality
membership fee in first year for staff members as well as agent seller. Most of the agent
seller and employees are taking policy of AIA. Along with they are connecting with the
AIA vitality and let them enjoy the reward and get different advantages by the insurance
policy that will be made them as an excellent promotion way to generate from their client
experience and referral to family as well as friends (Bolton, Bhattacharjee & Reed, 2015).
 External Promotions: The company has been promoted of all the products together with
all insurance policy that being introduced since 2020 OJK is not accepted that insurance
organisation to advertise instead of insurance product as vitality is a wellness program.
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The company is parting with other commercial items such as, Fitness, first, fit bit, CGV
and many others. All the partners of an organisation can use as distribution way to sale
out AIA vitality stand-alone without item since all partners are not operated by OJK.
For more promotion company use celebrity endorsement through has concern on healthy
and called as health influences. They will be given a free insurance policy by AIA together with
vitality program in regard to try later on share their experience in regard of customer that impact
on the followers by social media.
Organizational planning process
Digital strategy is strategic plan which is applied by the business to improve performance
and focuses on using technology whether developing new products. It presents the guidance of
business will take to develop new competitive advantages with technology and tactics will utilise
to accomplish such changes. In digital strategy consider new technology selects by business for
possible innovation organisations to provide service that were not possible. Life insurer AIA
Australia has launched the next phase of its plans to modify the thinking way of people that
related with life insurance and relaunch of website which is, aia.com.au. As per the extensive
overview of the business digital presence by global design and strategy firm Frog, AIA plans to
select the latest advancements in digital technology, data and design to become more customer
centric.
As a part of the review, the company was held across Australia to feedback on how to
enhance the relevance of life insurance that become complex due to follow traditional way and
become confusing. Thus, identify the requirement of customer to personalise their products and
make greater use of storytelling and define the connection between their clients and make the
value of life insurance more clear.
Most of the client engagement with AIA vitality comes from interactions within the
program itself. While emails is essential part of the mix and increasingly related with a range of
other way that related with mix utilising of marketo mobile experience, SMS, push notification
and in app messaging. Additionally business use two way communication with SMS and add in
from marketo partner, Hoosh that allows to send messages but receive them from customer as
well (Digital Strategy. 2020). The company also apply experiment with social media by
Marketo's AdBridge using lead forms and audience mapping on Facebook and LinkedIn and
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Marketo's web personalized module is starting to supports and delivered a made-to-order
experience when they reach websites.
Some of main modification apply in the Website in regard of products and services that
access by the customers via all mobile tablets and devices. Along with conduct semantic research
function that enable client find their answers that based on the questions on meaning, not just
keyword matches. The introduced of aia.com.au is most important aspect of AIA Australia's
move to become customer centric in the year of 2016 and carry out their latest mobile
application for AIA vitality the organisation's ground change of integrity and science backed
wellness program. It is related with fitness device as well as with mobile application in which
prompting a step change in the level of engagement between clients and life insurance (Naudé &
Sutton-Brady, 2019).
For organisational planning in proper manner company relaunch their website in order to
provide facility to customers to personalized of their products. Along with AIA wants to
communicate with their customers in personalised and authentic manner. The majority of data
comes from individual connecting with the program and required to hyper targeted. As per the
scale of engagement it is required to automated the procedure and measure the ability for
particular data and run automated activities depend on staff members interactions with the
program instead of visiting websites and traditional sales funnel strategy.
CONCLUSION
As per the above report it has been concluded that marketing is used to analysis what
products and services require for interest to client and different tactics use for the development,
sales and communication. Such activities requires to manage in business effectively and identify
where products and services fail to fulfil the requirement of customers on time. In this report
conduct marketing mix of insurance company and get it for promotion of their insurance policy
use internal external way. Along with use different place where company operate their operations
and attract customers. The organisational process depend on the digital strategy in which
company introduced their new website to communicate with customers effectively.
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REFERENCES
Books and Journals
Gursoy, D. (2018). Future of hospitality marketing and management research. Tourism
Management Perspectives. 25. 185-188.
Seyfi, S., & Hall, C. M. (2020). Sanctions and tourism: conceptualisation and implications for
destination marketing and management. Journal of Destination Marketing &
Management. 15.
Bolton, L. E., Bhattacharjee, A., & Reed, A. (2015). The perils of marketing weight-management
remedies and the role of health literacy. Journal of Public Policy & Marketing. 34(1).
50-62.
Naudé, P., & Sutton-Brady, C. (2019). Relationships and networks as examined in Industrial
Marketing Management. Industrial Marketing Management. 79. 27-35.
Online
Digital Strategy. 2020. [Online]. Available through:
<https://www.adviservoice.com.au/2016/02/aia-australia-makes-digital-investment-to-
improve-customer-engagement-with-life-insurance/>
Marketing mix of AIA. 2020. [Online]. Available through:
<https://www.mbaskool.com/marketing-mix/services/17565-aia-insurance.html>
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