Question

Please answer the following problems:

1. SunLife insurance has been trying to penetrate the mass market and educate them on the benefits and importance of life aand other investment insurance. They have used several TV personalities like Charo Santos and Piolo Pascual to penetrarte the segment, with limited success. People are aware of the brand, but are still not taking insurance due to various issues like affordability and distribution. Use the Ansoff Matrix and recommend how they can expand their market with an incremental 5 million heads by penetrating a new customer segment.

2. The milk tea craze is back for the third time around. Even fastfood chains and coffee shops offer milk tea. Taiwan has always been associated with milk tea, so you realized you have a great idea: to launch the Filipino milk tea. Using segmentation strategies, what segment of the market can you go after using that idea, and what will be your marketing mix?

3. WWF has been advocating sustainable development, from protection of wildlife to conservation efforts of our natural resources. While corporate support has been high, individual donors have plunged. People are not aware of where to donate , if at all, they will donate to an advocacy. Using the AIDA communication model, what can you propose to WWF to get 10,000 people to donate 1,000 pesos to the organization.

4. In today’s digital age, what is the fastest way to earn P100,000? Defend your product (or service). Identify your target market and positioning , and how you can mathematically earn (profit, not sales) P100,000. How and where will you market?

Answer 1

	Existing Products	New Products
Existing Markets	Market Penetration	Product Development
New Markets	Market Development	Diversification

1) Since its a new customer segment i.e. market and SunLife insurance has failed with its existing products, the company needs to develop new products and distribution channels for success. As per Ansoff matrix above, this strategy is called Diversification. SunLife needs to develop new insurance products with lower premiums and should develop a distribution channel for these products from by appointing insurance agents from the local communities of the target segment.

2) Filipino mil tea will be targeted at existing milk tea drinkers (existing market) and other consumers who prefer milk drinks (new markets).

Marketing Mix:

Product- Fillipino tea , targeted at consumers of milk drinks

Price: Same as the traditional milk tea. For an initial period, the price can be discounted to induce the consumption.

Place: Fillipino milk tea will be sold through traditional outlets.

Promotion: Promotion through social media and word-of-mouth marketing.

3) AIDA - Awareness, Interest, Desire, Action

Objective of promotion campaign is to increase the individual donations to WWF.

Awareness - among the people should be increased by a promotion campaign in social media.

Interest - The campaign should contain details of the work done by WWF, the impact of WWF projects on wildlife conservation, and associating people's donations with wildlife.

Desire - Campaign should be designed with personal approach and they should be told about the ongoing conservation projects and where the money is needed.

Action - The campaign then should provide the details of a specific bank account where people can send the donation money.