APPLICATION AND IMPACT OF MARKET CHALLENGER STRATEGY FOR THE INSURANCE INDUSTRY IN NIGERIA. A CASE STUDY OF VAL INSURANCE LIMITED
APPLICATION AND IMPACT OF MARKET CHALLENGER STRATEGY FOR THE INSURANCE INDUSTRY IN NIGERIA. A CASE STUDY OF VAL INSURANCE LIMITED
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Date
2012
Authors
ALI, MUHAMMAD BASHIR
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Abstract
ABSTRACT
In its simplest form, marketing strategy can be explained as a technique which a
given firm uses in order to achieve its set marketing objectives based on a given
competitive environment. Modern business that uses it often finds it a very
veritable tool for its growth, development and success, although given the nature of
our economy many firms do not use it, available evidence show that in future for
firms to survive, grow, and prosper, the adoption of marketing strategy is enviable.
There are several marketing strategies for firms which are at different marketing
positions to choose from.
This research work attempted to examine the application and impact of market
challenger strategy, using VAL Insurance Limited as a case study. It found that
although the company uses some form of strategies in its marketing activities, they
certainly are not market challenger strategies. It also found that despite its lack of
clear-cut direction in adopting strategies, VAL Insurance Limited has been able to
increase its profits, achieve some growth and witnesses fair use in market share
value.
The general findings of this research have been interpreted and analyzed in chapters
three and four, the fifth chapter which is the final, provides conclusions and
recommendations which if adopted and implemented may assist the company in
attaining the market challenger position which no doubt will tremendously improve
the firm's fortune in the highly competitive insurance market in Nigeria.
Description
BEING A THESIS IN PARTIAL FULFILLMENT OF THE
REQUIREMENT FOR THE AWARD OF THE DEGREE OF
MASTER OF BUSINESS ADMINISTRATION (MBA) OF
AHMADU BELLO UNIVERSITY, ZARIA NIGERIA.
Keywords
APPLICATION,, IMPACT,, MARKET,, CHALLENGER,, STRATEGY,, INSURANCE,, INDUSTRY,, NIGERIA, CASE,, STUDY,, VAL,, INSURANCE,, LIMITED.