Bupa Health Insurance Marketing Plan: Strategy, Audit & Objectives

This assignment provides a comprehensive marketing plan for Bupa Health Insurance, an international healthcare insurance company. The plan includes an analysis of Bupa's business vision and mission, current market situation, and potential future threats. It conducts a marketing audit, outlining marketing objectives such as increasing market share and customizing insurance health care covers. The plan details strategies for customer targeting, market segmentation, SWOT analysis, product positioning, and marketing mix. Tools like SWOT, PESTLE, BCG matrix, and product life cycle strategies are utilized. The assignment emphasizes the importance of adapting to market changes, product differentiation, and cost leadership to maintain a competitive edge. The marketing objectives focus on financial growth and customizing products based on client preferences, potentially leading to business diversification. The plan also suggests introducing new tax-beneficial insurance covers to attract a wider customer base. This assignment showcases a strategic approach to marketing within the health insurance sector, with key insights available on Desklib.

Running head: Marketing plan of Bupa Health Care
P a g e | 0
Bupa HEALTH CARE
Marketing plan of Bupa Health Insurance
Name of the student-
Topic- Marketing plan of Bupa Health Insurance
University Name-

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Table of Contents
Introduction..........................................................................................................................2
Section-1..............................................................................................................................2
Identify business vision and mission...............................................................................2
Vision...............................................................................................................................2
Mission............................................................................................................................2
Current market situation..................................................................................................3
Future threats...................................................................................................................3
Section-2..............................................................................................................................3
Conduct marketing audit..................................................................................................3
Marketing objectives.......................................................................................................3
High level marketing plan of Bupa Health insurance......................................................4
Section-3..............................................................................................................................7
Determining the marketing objectives.............................................................................7
Section-4............................................................................................................................10
Development of the marketing plan..............................................................................10
Conclusion.........................................................................................................................12
References..........................................................................................................................13

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Introduction
With the ramified economic growth and complex business functioning, every
organization is indulged in using the effective strategic planning and marketing process to win
over the market. In this report, Bupa Health insurance Company has been selected to prepare the
extensive marketing plan. This report is divided into four sections which will eventually set up
the marketing plan which Bupa Health insurance needs to implement to strengthen its business
insurance program in market.
Section-1
Identify business vision and mission
Bupa Health insurance is international health care insurance company which was
incorporated by undertaking the strategic alliance with several health care organizations and UK
based healthcare services expert, Bupa (Bupa Health Insurance, 2017). Currently, Bupa Health
insurance has been serving 32 million people around the globe.
Vision
The main vision of Bupa is to develop premium international coverage with the products
and services to access the healthcare they need anytime anywhere (Bupa Health Insurance,
2017).
Mission
The main mission of Bupa Health insurance is to provide its health care insurance cover
services on international level with a view to increase the satisfaction level of clients (Bupa
Health Insurance, 2017).

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Current market situation
With the ramified and increased competition in the market, many organizations are using
the extensive offers and innovative technologies to win over the market. However, Bupa Health
insurance has grabbed 21% market share on international level which strengthen its profitability
and overall turnover. Nonetheless, Pru Health and AXA PPP Health Company are giving the
tough completion to Bupa which might affect the overall market share and turnover of the
business (Bupa Health Insurance, 2017).
Future threats
The future threats which will be faced by Bupa is related to the intense competition with
the continues innovative technologies used by the rivals in the market, government intervention
that may affect the profitability and increased growth of company and stagnating growth of the
health care insurance industry. Nonetheless, it is observed that due to the international remittance
of money in UK, have also affected the cash inflow of business highly (Johnston, and Bate,
2013).
Section-2
Conduct marketing audit
Marketing objectives
The main marketing objective of Bupa Health insurance is to increase the overall market
share to 30% within 2 years which will not only strengthen the profitability and increased growth
of company but also strengthen the brand image of company. However, the marketing plan will
also assist in collecting data from the clients who will help Bupa to customize its insurance
health care covers as per the client’s needs and demand. The objective of the marketing plan is

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to make the products and services offered by Bupa Health insurance customized with a view to
increase its overall marketing objectives.
High level marketing plan of Bupa Health insurance
The marketing plan of Bupa Health insurance will be accompanied with the several steps.
However, the brief overview of the marketing plan is given as below.
Marketing objectives
 Customize its insurance health care covers.
 Increase the market share to 30% on international level
 Increased the overall turnover and growth rate of business.
Customers
Bupa needs to target clients who are falling between the age group of 22 years to 60
years. These are prominent potential clients for the BUPA.
Market segmentation
The marketing managers need to assess the different market segments such as insurance
covers for the children, male, female and old people (Goi, 2015).
SWOT analysis
Strength – The main strength of Bupa is that it has diversity in its products, strong brand
image and increased customer loyalty on international level.
Weakness- It has been facing high cost structure and less effective technologies in its
business.

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Opportunities- with the increased growth rate of the insurance industry, Bupa may lead
the market by using the attractive offers.
Threats- It is observed that the tough competition with continues innovative technologies
used by the rivals in the market, government intervention will affect its business.
Product positioning
Bupa Health insurance needs to keep its health care insurance cover different from others.
It will assist organization to develop product differentiation strategy.
Market testing
It is required to analysis all the internal and external factors of market before
implementing the strategic marketing plan (Goi, 2015).
Product mix
It will assists in analyzing the price, products, process, promotional strategy which could
be used by Bupa to keep its business different from others in market (Fernandes, Ferreira, and
Moura, 2016).
Tools for the strategic marketing plan of Bupa
The SWOT analysis, PESTLE analysis, BCG matrix and product life cycle strategies will
be used to prepare the effective strategic marketing plan of Company.
Implementation of the marketing plan
It will require rigorous efforts from the sales employees. It will assist in identifying the
possible changes in its offered products to attract more clients.

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Control
It is the procedure to control the issues and problems which might be faced by Bupa in
busienss.
Tactical plans
It will help in implementing the strategies in business. It is observed that these tactical
plans will assist in mitigating the small operation issues to adapt with the changes.
However, the markeing audit frameworks could be used to analysis the present and future
situation of Bupa (Fernandes, Ferreira, and Moura, 2016).
Sets Description
Employees strength Company has more than 8000 employees in its
different business units. However, most of the
employees are experienced who provide
effective services to clients (Fernandes,
Ferreira, and Moura, 2016).
Financial position The current financial position of company has
been high which reflects that company has
increased its overall turnover by 25% since last
four years. It has also increased its total
investment 312 million in its total assets
(Conway, 2013).
Technologies and resources Company has indulged in using the advance
technologies in its busienss and by using the

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efficient business functions, it could increase
the overall output in near future.
Marketing Team It is analyzed that more than 20 % of the sales
person in the business are experienced who
knows all the tactics and plans. They will
strengthen the marketing strategies in effective
manner.
Therefore, it could be inferred after assessing the marketing objectives and implementing
the markeing audit that company has faced high completion due to the increased use of the
innovative technologies by the clients in market. If Bupa wants to win over this intense
competition then it first needs to analysis all the internal and external factors develop its core
competency in product differentiation strategy and cost leadership strategy (Conway, 2013).
Section-3
Determining the marketing objectives
The marketing objectives of Bupa Health insurance Company are based on the financial
plans and its vision. It is analyzed that the main vision of Bupa Health insurance Company is to
increase its overall market share and increased the busienss growth. It has also planned to
customize its products and insurance covers with a view to increase the overall output in
effective manner (Boshyk, 2016). It is analyzed that the marketing objective of the Bupa Health
insurance Company is to collect the prominent information and collect the data from the clients
regarding their choices, perception and values. It will assist sales team to understand what types
of changes clients wants in the offered health care covers. This type of changes in the offered

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health care insurance cover will strengthen the overall products offering and will also help
company to create core competency in product differentiation strategy. The most of the insurance
covers are sold to the people who are working in the corporate sectors. Bupa needs to develop
those insurance covers which could not only cover their health issues but also assist them to avail
the tax exemption. This tax exemption plans will be the biggest win-win situation for Bupa
Health insurance Company. Marketing objective of Bupa Health insurance is to increase the
overall market share to 30% within 2 years. The implemented marketing plan will assist in to
customize its insurance health care covers as per the client’s needs and demand. Therefore, the
marketing plan is to make the products and services offered by Bupa Health insurance
customized (Conway, 2013).
It is further analyzed that if Bupa Health insurance could use this marketing plan then the
collected data from the clients could also be used by company to diversify its business. The
diversified busienss plans will assist Bupa to tap those markets which are offering high growth
rate (Fernandes, Ferreira, and Moura, 2016).
However, the marketing objective of the Bupa Health insurance could be assessed by
using the Ansoff Matrix which could assist company to diversify its busienss and strengthen its
existing market (Goi, 2015).

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After analyzing all the details and market factors, it could be inferred that Bupa Health
Insurance needs to introduce new insurance cover health care product. It is analyzed that most of
the people in UK are paying high amount of tax (Johnston, and Bate, 2013). The new health care
insurance cover products will be eligible for them as tax free investment. It could also be used by
them in their tax planning process. This newly developed health care insurance cover will be
eligible for the tax deduction for the clients to the certain limits determined by the government.
This will require agreement with the government which could strengthen the existing quality of
the health care insurance cover (Rashid, and Ghose, 2015).

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In addition to this, new health care insurance cover products will also be accompanied
with the less terms and condition which will not only increase the client’s attraction but also
increase their overall satisfaction from the purchased insurance cover product (Schmidt, Spann,
and Zeithammer, 2014).
Section-4
Development of the marketing plan
The marketing plan of the Bupa Health is accompanied with the several steps and
required utmost strategic analysis.
The marketing objective of Bupa is to customized its insurance covers and increase its
overall market share to 30%
Customer segment to target
With the increasing changes in its busienss, the main target of the Bupa Health Insurance
would be tapping the clients who are falling between the age group of 22 years to 60 years.
However, the new product developed by Bupa would be the insurance cover which is eligible for
the tax benefit. Therefore, marketing plan will also target the office going people and business
entrepreneur who are paying high amount of tax to government (Solomon, 2014).
Market positioning to attracts the target market
It is analyzed that company needs to use the cyber computing online mechanism to
promote its business. The Bupa has strengthened its business position by using cyber computing
mechanism which will be used to increase the visibility of its products in market. Company has
strong brand image in market which will eventually increase overall outcomes of the business
(Siguaw, and Simpson, 2015).

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Marketing Mix of the Bupa
The markeing mix of the Bupa is accompanied with the following points.
People- Bupa needs to focus on the clients who are falling between the age group of 22
years to 60 years. The new insurance cover benefit will be mostly purchased by the people who
wants to avail the tax benefit (Wei, Samiee, and Lee, 2014).
Process- It will have to change the preparation of the insurance cover which will
eventually increase the overall outcomes.
Promotional strategy- Bupa will use online marketing channel and seminars to promote
its newly developed insurance cover.
Price- It will follow the cost leadership strategy in which the price of the insurance cover
will be determined on the basis of cost plus benefit program.
IMC plan with the selected challenges and message
The IMC plan refers to the integrated marketing plan is accompanied with the strategies
which will assist Bupa to achieve its marketing objectives through well-coordinated promotional
methods. The IMC plans of Bupa will cover the following things.
Audience- The main audience of marketing plan of the Bupa would be sales person,
team, and clients.
Message channels- The main message of the integrated marketing plan is to promote the
goods and services of Bupa on international level.
Competition- By using the advance technologies and effective business plan, Bupa could
give tough completion to rivals.

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Technologies- It is analyzed that use of advance technologies will assist company to win
over the market.
Owned media- Its own SEO engine and cyber computing system will be used to promote
business online (Bupa Health Insurance, 2017).
Conclusion
With the ramified and increased competition in the market, Bupa needs to use extensive
offers and innovative technologies to win over the market. It is observed that if Bupa could use
effective work program and marketing plan then it could easily attract more clients in market.

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References
Boshyk, Y. ed., 2016. Business driven action learning: Global best practices. Springer.
Bupa Helath insurance, 2017., Annual report., [Online]., Available at
http://healthcompanion.maxbupa.com/telesales/index.php?
source=gbrand&gclid=Cj0KCQjw9LPYBRDSARIsAHL7J5m1XsPjDNpap8nRvLC_plMWgYn
8RTZBonbfIZZIg_tmDCWMQ9gNAT8aAndaEALw_wcB., ., [Accessed 14th May, 2018].
Conway, J.B., 2013. A course in functional analysis (Vol. 96). Springer Science & Business
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Fernandes, C., Ferreira, M. and Moura, F., 2016. PPPs—True Financial Costs and Hidden
Returns. Transport Reviews, 36(2), pp.207-227.
Finch, B. 2016. How to write a business plan. Kogan Page Publishers.
Goi, C.L., 2015. Marketing Mix: A review of'P'. The Journal of Internet Banking and
Commerce, 2005.
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creativity and strategic planning to discover great business opportunities. AMACOM Div
American Mgmt Assn.
Mohd, W., Idris, S. and Momani, R.A., 2013. Impact of environmental dynamism on marketing
strategy comprehensiveness and organizational performance. International Journal of Business
and Management, 8(9), p.40.
Rashid, S. and Ghose, K., 2015. Organisational culture and the creation of brand identity: retail
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Schmidt, K.M., Spann, M. and Zeithammer, R., 2014. Pay what you want as a marketing strategy
in monopolistic and competitive markets. Management Science, 61(6), pp.1217-1236.

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Siguaw, J.A. and Simpson, P.M., 2015. A marketing plan for marketing instruction: A satirical
look at student comments. In Creating and Delivering Value in Marketing (pp. 129-133).
Springer International Publishing.
Solomon, M.R., 2014. Consumer behavior: Buying, having, and being (Vol. 10). Engelwood
Cliffs, NJ: Prentice Hall.
Wei, Y.S., Samiee, S. and Lee, R.P., 2014. The influence of organic organizational cultures,
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