Geico Insurance Company

 Geico Insurance Company Essay

For several years, the auto insurance market relied on personal relationships that were created between regional insurance providers and their local customers (Lewins & Davis, 2002). Yet , the way buyers seek auto insurance is changing possibly as a result of advances in technology. In today's society, scientific changes happen to be constantly changing. It is important for a company such as GEICO to adapt to consumer's demands intended for the latest technology. The internet and website capabilities are just one of several technological improvements that are changing the market. In 2006, GEICO expanded their internet offerings to include interactive features that helped appeal to a " contemporary and hip way of life (" GEICO, ” 2013). ” Another recent enhancements made on technology is definitely the use of mobile phones and the want of customers to be able to connect at any time and virtually anywhere. This season, GEICO taken care of immediately this need by being the first inside the insurance sector to provide consumers with the ability to quotation and buy guidelines from a mobile device (" GEICO, ” 2013). With the recent boom in social networking sites like Facebook and Twitter, GEICO has embraced the social networking tools and utilized them to begin dual end advertising with consumers (Kumar & Mirchandani, 2012). Social media is becoming an increasingly popular tool to build positive word of mouth marketing to propagate brand recognition and in the end generate product sales and return on investment (Kumar & Mirchandani, 2012). GEICO can then be able to utilize available conditional capabilities of social media to analyze the impact with their campaign (Kumar & Mirchandani, 2012). Social websites helps agencies, like GEICO, stay linked to the developing needs of their customers and react nearly simultaneously. Consumer Tastes and Preferences

Consumers' tastes and preferences intended for auto insurance are shifting due to the growing dependence on convenience. One of the ways GEICO provides responded through offering an expansive list of internet...



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