In a fragmented and competitive industry, it is likely for the smaller roleplayer to be challenged in terms of competitiveness and market share. It is, therefore, important for the smaller organisation to etch its position in the market, by increasing its competitive advantage. In a milieu where there is a shift in distribution dynamics and the balance of power, and an increase in consumerism, the need to react is a pressing issue to be addressed by the smaller player. In the context of this study, the small and medium-low-impact intermediary in the South African short-term insurance industry is under pressure from, among others, direct distribution models and the increasing volume of the medium-high and high-impact intermediaries. It is determined in this study that the intermediary is challenged by all five market forces, as postulated by Porter in the model of “the five forces that shape industry competition”. The intermediary organisation must adopt positioning strategies, and differentiate its offering, in order to stay relevant in the industry. The short-term insurance intermediate industry is classified as a service industry; and therefore, it has unique factors to attend to. The positioning and differentiation strategies must be implemented without compromising the service quality levels. Furthermore, in the development of positioning strategies, it is essential to investigate the traditional marketing mix, while amplifying the mix with contemporary views of the subject. These form the basis of the positioning strategy; and from there, differentiation offerings can be shaped. A survey analysis of the product suppliers aims to identify the most important strategies for success. The study relies on the industry knowledge of the executives of these organisations, to steer the positioning strategies of the intermediary to fit in with their own positioning in the marketplace.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:nmmu/vital:9372 |
| Date | January 2011 |
| Creators | Stumke, Francois |
| Publisher | Nelson Mandela Metropolitan University, Faculty of Business and Economic Sciences |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis, Masters, MBA |
| Format | x, 130 leaves, pdf |
| Rights | Nelson Mandela Metropolitan University |
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