GEICO Executive Summary

The insurance industry’s performance is highly correlated with the state of the economy and specifically GDP growth. From the data outlined in this report, it is evident that the insurance industry flourishes alongside the economy where factors such as output, unemployment, and other variables are growing as well. Since the 2008 crisis, the Canadian economy has recovered quite well. One of the key concerns going forward is the current exchange rate of the Canadian dollar. Going forward, as the economy goes into a boom it will be crucial for the insurance industry to reach its potential.

I like to think that I exemplify GEICO’s core values of integrity, service, and growth in many ways. Since I believe that each truly goes hand in hand with the other, I feel it’s important to gain an understanding of each individually as a way to gain the ability to practice each one. Gaining an understanding of each individually also helps one to show others how they can choose to take on these values, too. Among values that one should hold close to them, integrity, service, and growth are among the most important, to me.

The purpose of this exercise is to provide a framework for you to analyze the marketing environments and opportunities for Company G. These analyses provide the rationale for the decisions you make regarding your marketing strategies.

This allows the audience to trust in Geico's services because of the level of customer satisfaction and the

GEICO has numerous strengths to enable its prominent position in the market. These strengths not only help it to protect the market share in existing markets but also help in penetrating new markets

Geico needs a strategy that addresses all of these advantages. The company should follow the following strategy toward this end. Geico will provide a flexible total rewards plan that helps employees choose the benefits and options of these benefits that will best suit their needs. The plan will not only help to gain new, talented employees but keep the existing talent in order to increase profitability by lowering the cost of turnover. Geico will ensure that employee’s needs are met so that employee will feel a sense of loyalty and connection to the company ensuring the a reasonable return on the company’s

Geico Insurance was founded in 1936 by Leo Goodwin, Sr. and his wife, Lillian. Mr. Goodwin’s idea was to provide auto insurance directly to federal employees. Geico Insurance’s originally business model was to provide insurance directly to military personal as they were less risky and more financially stable as

Aflac has grown not only in the United States but also in Japan, as well. Aflac was sprouted from the idea of three brothers who believed people needed protection when a medical problem arose (“Aflac Supplemental Insurance”, 2015). Their core value was always held to high standards and that was to “put the policyholders first (“Aflac Supplemental Insurance”, 2015).” Aflac also strives themselves to be comprised of a diverse group of individuals. This idea buds the notion that each individual person brings different strengths to the table and for this reason is why Aflac has been so successful over the decades.

In the past twelve months, there has been one advertising campaign that has stuck out amongst the rest. This advertisement can not only be seen on television, but also at your local movie theater before the opening credits. This advertisement campaign is Geico 's "Spy" commercial. This commercial features a US spy that is combating operatives when his cell phone rings. When he picks up, his mother is on the other side of the line complaining about his father refusing to hire pest control to get rid of the squirrels, as it is personal this time. The commercial then goes on to say, "if you are a mom you call at the worst time, it is what you do. If you want to save 15 percent on car insurance you switch to Geico. It 's what you do" (Mother Knows Best, 2015). This paper will discuss the success of the Geico advertisement.

In 1936, a married couple named Leo and Lillian Goodwin established GEICO; which stands for Government Employees Insurance Company in Texas. The initial target markets were government

Mr. Buffett entered into the automobile industry in the very right time, industry soaring and market growing faster with the help of new advanced technology. New acquisitions are also providing the benefits of access critical complementary assets. However, I believe, with this new diversification GEICO will get minor advantages. Because new insurance subscription is all depends on customers’ choice and their existing insurance company benefits, if the customer already owned a car and holding insurance. If Berkshire forced customers to take their primary lender GEICO policy then, Berkshire automotive would disappoint the customers’ choice.

The common public goal of the marketing discourse is to attract attention from targeted audiences, in other words make the consumer buy, buy, and buy. In order to achieve these goals I have to execute different marketing strategies with the help of the staff and company executives. Together we brainstorm different marketing trends, design different kinds of ads; analyze social media for more effective ways of advertising and calculate risks based on customer insight. When all is done right the end goal will result an increase of sales revenue for the company, which will sharpen its image and name.

Review the advertising of your major competitors. Document where their ads are placed, as well as their messages and their major selling points. Use that information in developing your own advertising strategies. This technique saves you work, because your competition has done it for you. For example, sites like Groupon, Living Social and AngiesList provide their members with substantial discounts on daily deals. They advertise through ad words and graphic banners on websites and television. They all have affiliate programs, as well. If you were starting a daily discount program, those methods have proved effective for these companies, so they should do well for you.

Leo and Lillian Goodwin established GEICO in 1936, and as of today GEICO’S assets have reached up to $32 billion. GEICO was created during the Great Depression even though this was a time when companies weren’t being encouraged to start up. GEICO was originally established as the Government Employees Insurance Company. When the company was first established, Lillian Goodwin, initially addressed people who were enlisted as a military officer and/or federal employee. GEICO had written 3,700 policies and hired 12 staff members, a year after this. Ever since then, the company has grown incredibly and continues to look forward to even more growth in the years to come.

GEICO is one of the most widely known insurance companies in the United States. In its early years it limited its customers to federal government employees, hence it acronymic name which stands for Government Employee Insurance Company. Auto insurance is a mass-market product that is required by law in many states and is certainly a very good thing to have where not required so it behooves the company to appeal to as broad an audience as possible. GEICO, according to Standard and Poor's, (citation) is the “No. 1 provider of personal auto insurance through direct channels in the U.S. and third-largest personal auto insurer overall.” To attain and maintain this lofty ranking GEICO has inundated the public with multiple full spectrum advertising campaigns which include direct mailing, TV, radio, print media, online and billboards. Its many and varied advertising campaigns, most of them humorous, have been omnipresent on our TV screens and virtually all our print media space for decades and have become part of our popular culture. GEICO tailors some portion of its advertising based on the readership and viewership demographics of the media carrying the