The Impact Of Personal Selling In Achieving, Organizational Objective (A Case Study Of Mutual Benefit Insurance Company Plc Owerri)
The Impact Of Personal Selling In Achieving, Organizational Objective (A Case Study Of Mutual Benefit Insurance Company Plc Owerri)
Abstract
The research aim of working in the impact of personal selling in insurance marketing in Nigeria mutual benefit insurance company Plc Owerri is the case study the research aim of finding, the ideal of personal selling is distribution of insurance service.
It is required in finding prospect convincing to buy and keeping customer satisfied. When the above mentioned is achieved, there will be increase in sale volume and steady market growth. The researcher highlights the limitations, problem scope purpose of the study and also review some related literature which formed the backbone of this research work.
It also explain the research methodology to enable the reader know the design and steps taking in making the findings.
Table Of Contents
Preliminary Page(s)
- Title page
- Approval page
- Dedication
- Acknowledgement
- Abstract
- Table of content
Chapter One
1.0 Introduction
- 1.1 Background of the study
- 1.2 Statement of problem
- 1.3 Objective of the study
- 1.4 Research question
- 1.5 Scope of the study
- 1.6 Significance of study
- 1.7 Limitation of study
- 1.8 Definition of terms
- References
Chapter Two
2.0 Literature Review
- 2.1 Salesman recruitment
- 2.2 Types of sales person
- References
Chapter Three
3.0 Research Methodology
- 3.1 Introduction
- 3.2 Research design
- 3.3 Sources of data
- 3.4 Population and sample size
- References
Chapter Four
4.0 Data Presentation and Analysis
- 4.1 Presentation of data
Chapter Five
5.0 Summary of Finding , Conclusion and Recommendation
- 5.1 Summary of finding
- 5.2 Conclusions
- 5.2 Recommendations
- References
- Appendix
- Questionnaires
Chapter One
1.0 Introduction
1.1 Background Of The Study
Insurance business is know as business which does not sell a concrete items like a motor car but exist mainly to provide the insurance public with a system of protection against finical losses arising from accidental and unexpected events.
It is difficult most time to convince consumer to buy their product after advertising. This now resulted to the use of personal selling as a strategy which they use in order to work on the customer because customer have a normal tendency resist buying most things that are not essential for their need, when the massage of the advertised product is not clear or understood at this point personal selling being a direct communication. In order to make substantial effort to induce the prospect and customer and to stimulate their interest to like and believed in the company’s product by directly education. The customer on the usefulness of the product well as various terms used by insurance company.
Owing to the fierce competition among insurance companies, which led to the innovation and revolution stage, the use of personal selling as a strategy in order to make consumer to by their product is not only to sale and collect cash, but it is also used as a tool in educating consumer on the product. Meanwhile, personal selling is an arm of promotion which is one of the marketing mix in other aspect of promotion and public relation. However, personal selling effort is made easy to other arms of promotional mix. The impact of personal selling will vary from business. It can be one of the most expensive ingredients of the promotional mix.
Though the cost of salaries, commission, travel and hotel expense are huge. It’s usefulness out weight the cost of the operation of personal selling.
1.2 Statement Of Problem
This study is not an exceptional bearing in mind that personal selling in never giving the seriousness it deserves in insurance organization in terms of training of sale people, payment of right salaries / commission and recruitment of the right sale people even the buyer cannot realize the relevance of personal selling both in their well being and that of the society on the whole.
The research undertakes this piece of work so as to establish convincing facts is to the importance of personal selling to the succession of insurance company.
1.3 Objectives Of Study
- To determine whether personal selling make the buyer buy product they don’t really need
- To know if personal selling make the buyer buy product at higher cost
- To determine whether personal selling have helped the buyer
- To determine the promo tool that captivate the interest of the mutual benefit insurance company more
- To know the promo tool that move the seller more.
1.4 Research Question
- Does personal selling make the buyer to buy product they don’t really need?
- Does personal selling make the buyer to buy product at higher cost?
- In what ways has personal selling helped the buyer?
- What promo tool captivate the interest of the buyer?
- Which promo tool move the buyer more?
1.5 Significance Of Study
The organizations translate what the people need and want into product. Having ascertained what these needs and wants are it is not enough to produce the product that will satisfy the needs of the consumer if this is done without attaching it with proper price and marking the available when and where they are needed.
Personal selling is within the telecommunication aspect of market. The other aspect of marketing communication involves advertising sale promotion publicity and product packing. The mentioned area. of marketing promotion individually and collecting work to water the ground for personal informing, persuading and reminding target customer about the firm and its products.
Personal selling is generally one of the tools of marketing communication it is a unique promotional tool in the sense that it is a marketing programmed with the ultimate aim of converting a company’s output to immediate cash. Personal selling occupies a tire pre relent position in marking and it quickly identified its prospective buyers persuades them to physically exchange a parts of their money for the output of firm.
1.6 Scope Of The Study
The scope of the study is limited to some insurance co-operation limited Owerri which head quarters is located at WO 14116 alibiobi street box 2094 Lagos state. Mutual benefit insurance was the co-operate in the year 1970 the Chief executive S.B ifatujosine has made effort by opening braches in other parts of the state which include Jos, Enugu, Port-Harcourt, Ibandan, Onitsha, and Abuja.
1.7 Limitation Of The Study
This study will examine the impact of personal selling in achieving organizational objective in Nigeria with in emphasis on mutual benefit Owerri. Research of this nature generally involve, coat in terms of survey questionnaire administration, collection of data and the promotion of the research work.
As a student those coat because more glaring and financial difficult to settle and therefore stretched the financial resource of the researcher there were the problem of watery and prejudice dispraising from the ignorance of the respondent, of the bass of the study some respondent never understood what were required of them and why the research was being conducted.
Another limitation of the study was the time constraint which did not allow for the boarding of the sample which would have increase the validity and reliability of the result of the study.
There was also the non-availability of text-book journals magazines, newspapers, covering the topic under investigation attentive calculated against the staff response to enable the researcher to assign percentage weight to each alternative with the highest percentage.
1.8 Definition Of Terms
1). Personal selling:
This is an act of successfully persuading prospects or customer to buy from which they can derive suitable benefits.
2). Forecasting:
This is a means by which company through whatever value of post sales people ascertain the volume of product they will assign to them in future.
3). Customer:
They are those that use a particular product without buying another.
4). Selling:
This is the personal presentation of tangible or intangible services and ideas of significant potential customer
Chapter Five
5.0 Summary Conclusions And Recommendation
5.1 Summary Of Finding
Due to the effective researcher the fully evaluated and analyzed. The researcher comes out, with the following findings:
- Many people don not know what personal selling is all about and as result they do not use it this caused many people to loose their share of the market of which they would have captivated owing to their ignorance.
- The ones that know about personal selling and not making use of it are acclaiming of it’s effects on this products and also finding ways to amend it.
- The few people that know about it do not really use it to the fullest they do not know who is the prospect demonstrating the product and even how to close the sale and this really make them not attain to the heights of which personal selling would have carried them.
- Some sales forces are not well equipped to carry out their duty to carry out their function very well and that firm should benefit from such functions.
- Selection of sale person should be on merit there will be need to employ those who can speak at least three of four dialect and are able to tolerate other people customs and religion.
5.2 Conclusions
The researcher has found out that companies firms and organization can not do without personal selling personal selling has a great impact in insurance companies can not be it’s usefulness outweigh the amount of money which insurance companies pay to their sale people.
Personal selling has played more major role on information greater, for it is through the report turned in by sale people that companies are able to proffer solution to their problem, also though the marketing decision maker can then evaluate. The profitability of particular customer as well as area or territory on the basis of the sales produced and cost incurred in producing them.
Personal selling do not only concert the companies out to immediate cash but trades to intermediate and educated. The consumer on the benefit and how to use the product generally, personal selling has improved insurance industry economical growth tremendously.
5.3 Recommendation
The following are recommended in order for firm to continue in existence because personal selling product cannot be side timed in the marketing of insurance service.
The sales force must be well equipped with the necessary materials to carry out their duty effectively because it is only through this means that the company will achieve it set objectives.
Business organization should understand more about personal selling and its relevance in marketing product and service the few people not utilizing its strategies to the fullest should employ graduates who know about selling to carry out this important function for them, and send some to enlighten them more. While the one that know it and are it in the right from should continue because it is only there answer then they have milking their counterpart through having more sales.
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