Evaluate The Principles Of Marketing And Digital Marketing Of Aviva (Research Paper Sample)

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Executive Summary
Marketing is crucial for an organization to acquire an increased market share through an increased number of consumers. Marketing plans are used to provide guidelines to the staff on dealing with marketing activities in the organization for a steady flow of operations. Marketing strategy is used by the management in ensuring that there is increased competitive edge through a sustainable plan to reach out the targeted consumers.
Table of Contents TOC \o "1-3" \h \z \u Executive Summary PAGEREF _Toc497810903 \h 2Introduction PAGEREF _Toc497810904 \h 4Background Information PAGEREF _Toc497810905 \h 4TASK ONE PAGEREF _Toc497810906 \h 6Marketing plan theory PAGEREF _Toc497810907 \h 6Marketing strategy PAGEREF _Toc497810908 \h 7Marketing tactics PAGEREF _Toc497810909 \h 9Application of marketing tactics in Aviva PAGEREF _Toc497810910 \h 11Aviva market analysis PAGEREF _Toc497810911 \h 11Recommendations to improve Aviva marketing tactics PAGEREF _Toc497810912 \h 12TASK TWO PAGEREF _Toc497810913 \h 13Digital marketing processes PAGEREF _Toc497810914 \h 135S of Aviva digital marketing PAGEREF _Toc497810915 \h 14Sell PAGEREF _Toc497810916 \h 14Serve PAGEREF _Toc497810917 \h 15Speak PAGEREF _Toc497810918 \h 16Save PAGEREF _Toc497810919 \h 17Sizzle PAGEREF _Toc497810920 \h 18Recommendation to improve the website PAGEREF _Toc497810921 \h 18Social media marketing used by Aviva PAGEREF _Toc497810922 \h 19Additional digital marketing techniques PAGEREF _Toc497810923 \h 20Search engine optimization PAGEREF _Toc497810924 \h 20Email marketing PAGEREF _Toc497810925 \h 20Viral marketing PAGEREF _Toc497810926 \h 20Pay per like PAGEREF _Toc497810927 \h 21Display ads PAGEREF _Toc497810928 \h 21Conclusion PAGEREF _Toc497810929 \h 21References PAGEREF _Toc497810930 \h 22
Introduction
An organization is required to implement a marketing strategy to make the products and services produced known to the consumers. The consumers are expected to have an insight on the products design and features to develop a decision to use the products from that particular company. The management is required to perform a consumer analysis that will offer insight on features and design of products that are widely accepted by customers after marketing. Proper marketing strategies provide increased financial position for an organization through the increased sales volume.
Background Information
Aviva Plc is a British insurance company which offers investment, general insurance, life insurance and pension services to the consumers with headquarters in London (Aviva Plc, 2017). The firm implements proper marketing strategies to increase the number of customers in the insurance industry which is highly diversified. It is essential for an organization to implement policies that are highly flexible to handle various issues in the business market. Promotion strategies implemented are aimed at ensuring that the company products are widely known by the people in the UK. The company has diversified products to meet the needs of different consumers in the UK market. Aviva has acquired an increased market share in other parts of the world due to improved quality of services through the insurance services. Marketing strategies implemented by the company are aimed at improving the number of consumers that are willing to use the products of the company. Aviva brand has acquired increased global competitive edge with over 33 million consumers in 16 markets in the UK, Europe, Asia and Canada (Aviva Plc, 2017). The marketing strategies are aimed at increasing the consumer experience for the improved loyalty of existing consumers and acquire new consumers through referrals. The consumers are relevant stakeholders of a business requiring the management to implement strategies which are aimed at satisfying their needs and desires. Aviva Plc provides services that are focused on consumers for a sable brand in the market that will provide increased financial benefits from production.
The marketing strategies of Aviva are aimed at increasing the corporate social responsibility of the company for acceptance in the targeted market. Aviva Plc contributed over £ 11.3 million to the community for an enhanced reputation in the market. Digital marketing is implemented by the company to acquire an increased market share through development of an online brand for the business. The consumer needs are satisfied online reducing the time used to purchase insurance, investment and saving services for Aviva. Due to the different financial needs of consumers Aviva has different websites depending on the country of the consumers (Aviva Plc, 2017). The evaluation of consumer needs based on their nation makes it possible to come up with financial services that match the targeted consumers. Marketing in the nation focuses on innovation for a stable competitive edge in the financial services industry. Aviva Plc is a listed company which acquired capital for expansion from shareholders of the business through share trading. The strategies implemented by a business are vital in increasing the number of shareholders willing to invest in company’s share. Aviva Plc recorded a fourth-year consecutive profit recording 11% increase to £1.47 billion and an increase of earning per share to 15% to 25.8 pounds (Aviva, 2017). The increased performance of Aviva Plc is profoundly contributed to appropriate marketing plans to reach the targeted consumers in the global market.
TASK ONE
Marketing plan theory
Marketing gap is used by the management in identifying the marketing situation in the industry for development of effective policies. It is crucial for the management to compare the expected position and the actual position when coming up with a marketing plan. Competitor analysis by an organization provides an individual with the required information to improve the business through increased market share. Gap analysis provides the management with the necessary information to identify the constraints leading to lack of achieving set objectives of production. The plans implemented are required to handle the challenges in the market for increased profitability from production. According to Bhasin (2016), marketing policies implemented by the management are needed to assist in achieving the potential of a business at a specified time. Customer surveys and sales patterns are used to identify the marketing gap of the company. The current position is improved through implementation of effective marketing strategies to close the marketing gaps.
The market theory requires identification of gaps in the industry through the analysis of the current position of the business. A market audit is performed to identify the actual and expected status of an organization for a continuous development of production processes (Learn Marketing, 2017). The sale performance provides an insight on the need for change in an organization for increased market share through an implementation of effective marketing strategies. Demand forecasting is used in developing a proper business goal through a sustainable competitive advantage. Addressing the marketing gap is through the development of processes and systems in the company for increased market share.
Source: (Bhasin, 2016)
Marketing strategy
The strategies are aimed at increasing the market share of business through the development of products or market entry. The targeted markets are identified to come up with promotion plans that will reach out the consumers. Proper advertisement channels by an organization provide an increased number of customers for a sustainable performance in the industry. Competitor and consumer analysis provide the management with the required information in consumer targeting. The targeted consumers are required to have the will and ability to buy products of the organization in large amounts for increased sales volume. Ansoff growth matrix was developed by Igor Ansoff in 1957 with an aim to improve the performance of businesses (Simister, 2011). The growth options are through market development, diversification, market penetration and product development. The products and market are used in coming up with a proper marketing strategy that will grow the business for the achievement of set production objectives.
Market penetration is aimed at increasing the market share using the existing products and services of an organization. The penetration is required to identify the current market segments and focus on expanding the market share of the business. The market penetration strategy involves improvement of the current situation of the company using the existing products (Mind Tools, 2017). Diversification is the use of new products in a new market to close the gap in the organization for sustainable performance. The products developed are required to be highly differentiated to meet the needs of targeted consumers in the new markets. Product development is the use of the new products and services to the current market. The development of products is required to consider the consumer survey for development of proper products to meet consumer needs and desires. Lastly, market development strategy requires an organization to trade the current products into a new market (Simister, 2011). The core competencies of an organization are essential in ensuring that the products are highly accepted in the new market. An organization is required to come up with a strong brand when executing the market development strategy that will increase the market share of business in a new market segment.
Source: (Mind Tools, 2017)
Marketing tactics
STP is essential in marketing as it provides the management with the required information in coming up with a market mix. The STP process involves seg...