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BIRLA_SUNLIFE Insurance Services

BIRLA_SUNLIFE Insurance Services

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Published by jaat000787

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Published by: jaat000787 on Feb 22, 2010
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10/03/2011

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 A Report 
On
 MARKET POTENTIAL IN 
“LIFE INSURANCE SERVICES”
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PREFACE
It’s a magic mantra for the marketer. It says the customer is best satisfiedwhen it least expects it. Today’s highly –competitive marketplace, when meresatisfaction does not ensure loyalty, decrees this. To take potential defectors by surprise, you have to behind customer expectation by anticipating its needand then surpassing them with constantly superior products or service or delighting the customer. Nor must be delight be a one-off offering, which can be bartered for a lifetime purchase. You must be prepared for a lifetime purchase. You must be prepared to it again and again, increasing the level of satisfaction at each encounter with the customer. It was in the late eighties thatcorporation discovered the magic mantra: customer loyalty. In the midnineties the manta is being modified somewhat. Instead of merely satisfaction,the enlightened companies have now started talking about customer loyalty.The distinction is important increasingly research data is showing that evencustomers who claim to be satisfied tend to desert a company whenever itsrival unleashes a new marketing program. And any marketing exercising thatmerely aims at satisfying customers is unlikely to reap any term benefits.Marketing’s traditional connection with customer are no longer sufficient I areal time world focus groups, market research, consumer surveys and other tools for probing the consumer wants and needs are and always have been
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limited. Customer surveys must view with skepticism. By contrast, continuousconnection with customers can provide information that focus groups andsurveys cannot. A customer is rarely interested in the products per she is onlyinterested in what the product Cando for him. That’s why, any marketer whocan help the customer get the maximum benefits from the products stands togain a district competitive edge in the market place.
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