ATMC MKG701: Integrity Life External Marketing Analysis

This presentation provides an in-depth analysis of Integrity Life, an Australian SME operating in the life insurance market. The presentation begins with a description of Integrity Life, including its products, services, and target market. It then delves into an analysis of the external marketing environment, considering political, economic, social, technological, environmental, and legal factors. The core of the presentation involves the identification and assessment of three key opportunities (expansion, revenue, and marketing efficiency) and three main threats (resource costs, cyber fraud, and competition) facing the company. Following the identification of opportunities and threats, the presentation offers marketing-focused recommendations for addressing one key opportunity (expansion) and one main threat (workforce). The recommendations include strategies like low pricing, diversified services, effective marketing, appropriate rewarding policies, and effective training programs. The presentation concludes with a list of references.

INTEGRITY LIFE
AN IN-DEPTH ANALYSIS
NAME OF THE STUDENT
STUDENT ID
NAME OF THE UNIVERSITY

INTRODUCTION
The presentation covers:
 Description of the integrity life and their products and services
 Analysis of the external marketing environment of the integrity life
 Identification and assessment of three key opportunities and three main threats
of integrity life
 Marketing focused recommendations for addressing one key opportunity and
one main threat

DESCRIPTION OF THE INTEGRITY LIFE
The organization operates in the
Australian market and is currently
headquartered in Sydney.
The organization was established
in the year 2018
(Integritylife.com.au, 2020).
One of the significant trend
affecting the business is seen to be
technology and innovation.

PRODUCTS AND SERVICES
Retail Products or Services Group Products or Services
Income Insurance Salary Continuance
Life Insurance Death Cover
Critical Illness Cover (Integritylife.com.au,
2020)
TDP
TDP
Care Support Packages

POLITICAL AND ECONOMIC FACTORS
Political Economic
Strong connection with several trade
organizations.
Good relationship with the neighbouring
countries.
Transparent governmental activities.
The GDP per capita of the nation in the year 2018 is
seen to be 37299.62 US dollars
(Tradingeconomics.com, 2020).
The nominal GDP of the nation has reached 344.9
billion US dollars (Ceicdata.com, 2020).

SOCIAL AND TECHNOLOGICAL FACTORS
Social Technological
Increased Employment in the financial service
sector.
Increased awareness amongst the people of
Australia regarding financial security.
The Human Development Index of the nation is as
high as 0.938 (Hdr.undp.org, 2020).
The tendency of using social media and online
platforms amongst the people of Australia has
certainly increased in recent years.

ENVIRONMENTAL AND LEGAL FACTORS
Environmental Legal
Tech based approach.
Energy efficient business models.
Labour and Employment Legislations.
Financial Services Regulations.

OPPORTUNITIES
Expansion of their business
operations (Hohenthal,
Johanson & Johanson,
2015).
Increment of the revenue
streams.
Efficient marketing for
influencing the purchase
intention.

THREATS
Increasing cost of the human
resources (Cascio, 2015).
Threat of cyber fraudulent
activities.
Intense level of competition.

RECOMMENDATION (OPPORTUNITY)
Expansion of the business
operations:
Application of the low
pricing.
Formation of diversified
services.
Effective management of the
marketing and promotional
activities.

RECOMMENDATION (THREAT)
Formulation of a large workforce:
o Formation of appropriate
rewarding policy.
o Formulation of an appropriate
wage and work time
characteristics.
o Efficient management of the
training and developmental
needs.

REFERENCES
CASCIO, W. F. (2015). MANAGING HUMAN RESOURCES. MCGRAW-HILL.
CEICDATA.COM (2020). AUSTRALIA NOMINAL GDP [1959 - 2020] [DATA & CHARTS]. RETRIEVED 10
JANUARY 2020, FROM HTTPS://WWW.CEICDATA.COM/EN/INDICATOR/AUSTRALIA/NOMINAL-GDP
HDR.UNDP.ORG (2020). | HUMAN DEVELOPMENT REPORTS. RETRIEVED 10 JANUARY 2020, FROM
HTTP://HDR.UNDP.ORG/EN/COUNTRIES/PROFILES/AUS
HOHENTHAL, J., JOHANSON, J., & JOHANSON, M. (2015). NETWORK KNOWLEDGE AND BUSINESS-
RELATIONSHIP VALUE IN THE FOREIGN MARKET. IN KNOWLEDGE, NETWORKS AND POWER (PP. 187-
224). PALGRAVE MACMILLAN, LONDON.
INTEGRITYLIFE.COM.AU (2020). LIFE INSURANCE AUSTRALIA: WE'RE ALL ABOUT YOU - INTEGRITY.
RETRIEVED 10 JANUARY 2020, FROM HTTPS://WWW.INTEGRITYLIFE.COM.AU/
INTEGRITYLIFE.COM.AU (2020). OUR SIMPLE, FLEXIBLE PERSONAL LIFE INSURANCE - INTEGRITY.
RETRIEVED 10 JANUARY 2020, FROM HTTPS://WWW.INTEGRITYLIFE.COM.AU/PRODUCTS/RETAIL/
TRADINGECONOMICS.COM (2020). AUSTRALIA GDP PER CAPITA PPP. RETRIEVED 10 JANUARY 2020,
FROM HTTPS://TRADINGECONOMICS.COM/AUSTRALIA/GDP-PER-CAPITA-PPP