Sales Structure Strategy in Bumiputera Muda LLC 1967 General Insurance Branch Lampung, Indonesia

Abstract

This study aims to analyze the position of Motor Vehicle Insurance products at this General Insurance Lampung Branch based on Product Life Cycle theory using a simple mathematical data analysis method. In addition, we also analyze the characteristics and objectives of marketing at each stage of his life which consists of factors of sales, profits, customer competitors, and marketing objectives achieved from these products. From the results of this analysis, a marketing strategy can be determined that is in accordance with its position in the Product Life Cycle.

Judging from the theory of Product Life Cycle for Motor Vehicle Bumiputera Muda LLC 1967 General Insurance Lampung Branch is at the maturity stage. This is in accordance with the analysis of product performance taken from the data collected by this company in the form of a motor vehicle insurance policy that shows a growth rate of 24.35%, receipt of operating profit from business activities of Motor Vehicle Insurance services in 2017 which is 5.86%, and this increase indicates that the company's performance has increased and the average growth for 3 years is 0.29%, and the analysis of the characteristics and objectives of product marketing at each stage of the product life cycle consists of sales, costs, profits, customers, competitors, and marketing objectives.

Keywords: Product Life Cycle, Motor Vehicle Insurance, Marketing Strategy

DOI: 10.7176/JMCR/54-07

Publication date:March 31^st 2019