E-insurance in UAE Essay Example | Topics and Well Written Essays - 5000 words

E-insurance in UAE - Essay Example It looks at how e-business can reshape the insurance industry in the coming years. The research attains this end by addressing the following objectives: 1. A critical examination of the essential components of e-insurance 2. An assessment of the United Arab Emirates' business and socio-cultural terrain 3. An evaluation of the chances of successful implementation of e-insurance in the UAE. The propagation of the World Wide Web (WWW) and all other communication technology has created new dynamic channels through which insurance companies can promote and sell their services. Insurers can now provide services twenty-four hours a day, seven days a week at a low cost and over broader geographical area. Besides these opportunities, this research will highlight the problems associated with e-business in insurance sectors for both the insurer and insured, e.g. privacy issues, security payments, lack of information, the level of advice needed and other issues related to electronic business. Th e researcher will use structured questionnaires to collect data and then test results to answer and understand the questions, thus evaluating the current potential of e-insurance in the UAE market. ... This is in the interests of both parties. Chapter 2 Literature review: This component of the research undertakes the definition of the key elements and aspects of the main components of the research. This include the structures of e-business and e-insurance, the Emirati society and other relevant elements needed for the successful implementation of e-insurance strategies in a given nation. 2.1 E-business Since E-business forms the framework within which e-insurance operates, there is the need to look at it in detail. 2.1.1 Defining e-business "Electronic business can be defined as the use of the internet to network and empower business process, electronic commerce, organizational communication and collaboration within company and with it customer, suppliers and other stakeholders" (Combe, 2006). In other words, it refers to the use of the Internet and other electronic system to conduct business. This enables people to conduct business over a considerably large distance and attain the same results as those who do so in a face-to-face manner. The difference between e-commerce and e-business lies in the wider range of processes that e-business applies. Authors like Chaffey (2004) state that e-commerce can best be conceived as a subset of e- business, i.e. it represents selling and buying transactions in the wider e-business world, containing other procedures and elements, such as online customer services, electronic marketing, secure payments and other processes. From another point of view though, e-commerce can be see to be a branch of e-business. Thus, whilst e-commerce is concerned with buying and selling, e-business is concerned with the integration of major business activities, like advertising, customer care and the like

IMC is Not a Proven Marketing Theory Essay Example | Topics and Well Written Essays - 2500 words

IMC is Not a Proven Marketing Theory - Essay Example Direct Marketing is an approach used to create relationship with customers and delivering information about products to customer, the method is mainly used for selling financial services to customers, direct marketing also helps to close sales cycle within a short time period. Sales Promotion is the process that helps the company to increase brand visibility in point of sales and point of purchases, companies use the technique to increase new product usage ratio among customers, the process also helps to increase customer footfall in the retail stores, companies use loyalty card, discount method, incentive schemes to increase purchase ratio among customers. Public Relation companies can go for organizing public events or news paper editorial about their new product, they use trade shows to increase category visibility among customers, creating good word of mouth about the product is one of the major objectives of public relation (Jones). Many advertising agencies have shifted focus f rom creating unilateral promotional message to making multidimensional promotional message. Main purpose of IMC is to channelize the promotional message in a unified manner though all promotional medium. David Ogilvy has characterized IMC as one stop solution offered by advertising agencies to companies. Keith Reinhard (CEO of DDB Needham) thinks IMC is an effective way to produce creative brand message. Many research scholars think demassifiction played pivotal role in evolution of IMC. After 1970, media industry started to restructure into smaller operational units. They started giving importance to various promotional medium rather than concentrating on age old advertising model. In this way IMC has emerged as a common platform to integrate various promotional medium (Schultz, Tannenbaum and Lauterborn 6). IMC is a process to align communication objectives of a company with corporate goals to achieve business efficiency. Jerome McCarthy used the concept of four P’s (Produc t, price, place and promotion) during 1950’s for the first time (Jerome McCarthy used 4P’s concept in his book â€Å"Basic Marketing† published in 1960 and he used the concept to explain campaign made by JWT). Philip Kotler and other academicians (in 1965, Philip Kotler described 4P’s as various marketing variables in his article) proselytized the concept in coming years. Four P’s can be described in the following manner. Product- the strategy emphasizes on manufacturing products, maintaining the quality standard of product and optimum utilization of resources during production process. Price- deciding the price of the product in accordance with the demand of the product, setting high price or low price for the product is an important part of pricing strategy. Place- designing distribution network for the product, company creates distribution network to expand the reach of the product, appointing c&f agents, stockiest, wholesalers, retailers are pa rt of distribution strategy. Promotion- companies use direct marketing, sales promotion, and advertising activities to