Question

Identify various levels and types of stretegies used at Aetna insurance company.

Answer 1

Aetna Insurance has different levels of organizational strategieswhichare impactful for this organization to attain a steady competitive advantage. Strategies are as follows

• 4Ps of marketing mix strategy
• Public exchange strategy
• Private exchange strategy

4Ps of marketing strategy

4ps of the marketing strategy of Aetna Insurance are as follows:

• Product: Aetna is in the USA market for over 160 years. Products details this organization provides to is target consumers are individual and family insurance plan, dental coverage plan, students insurance plan, and international insurance.
• Price:Aetna company sets product prices according to market demands and forces. This organization is presently reengineering its business model and setting cost-effective pricing policies.
• Promotion:Aetna company is more focused on expanding promotional strategy through both digital media and print media. This organization has a mobile application and official website which are impactful in its pricing strategies.
• People; Aetna company focuses on basic requirements of its target consumers. Health insurance plans and low-cost health care treatment plans. This organization has several medical benefits programs for its target consumers and work from home opportunities for employees.

Public exchange strategy

Presently, Aetna company is providing health insurance plans on public exchanges. This public exchange health insurance plans can be availed or renewed every year from November 15 to February 15. Around 0.8 million consumers have already availed these plans in the first quarter of 2015.

Private exchange strategy

It is an effective strategy which enables target consumers of Aetna company to avail health insurance plans from private organizations. A fixed amount has been provided to the employees to avail of this private exchange health insurance policy. Aetna company is expecting a $7.5 billion premium from this strategic implementation.