INTRODUCTION A marketing strategy is a process that can allow an organization to concentrate its(always limited) resources on the greatest opportunities

to increase sales and achieve a sustainable competitive advantage.Ma rket i n g st rat e g y as a ke y p art of t he gene ral corporat e st rat e g y m arket i ng strategy is most effective when it is an integral component of corporate strategy,defining how the organization will engage customers, prospects and competitors int he m arket aren a for succ ess. It i s p art i al l y d eri ved from bro ader corpo r at e strategies, corporate missions, and corporate goals. They should flow from thef i r m ' s m i s s i o n s t a t e m e n t . T h e y a r e a l s o i n f l u e n c e d b y a r a n g e o f m i c r o environmental factors.Marketing strategy and sectarian tactics and actionsA m a r k e t i n g s t r a t e g y a l s o s e r v e s a s t h e foundation of a marketing plan. Amarketing plan contains a set of s p e c i f i c a c t i o n s r e q u i r e d t o s u c c e s s f u l l y implement a marketing strategy. For example: "Use a low cost product to attractconsumers. Once our organization, via our low cost product, has established arelationship with consumers, our organization will sell additional, higher-margin products and services that enhance the consumer's interaction with the low-cost product or service."A strategy consists of well thought out series of tactics. While it is possible towrite a tactical marketing plan without a sound, well-considered strategy, it is notrecom m ended. W i t hout a sound m arket i ng s t rat e g y, a m arket i n g pl an has nofound a t i on. Market i ng st ra t egi es se rve as t he fundam ent al un derpi nni ng o f marketing plans designed to fill market needs and reach marketing objectives[3]. Itis important that these objectives have measurable results.A good marketing strategy should integrate an organization's marketing goals, policies, and action sequences (tactics) into a cohesive whole. Many companiescascade a strategy throughout an organization, by creating strategy tactics that then become strategy goals for the next level or group. Each group is expected to takethat strategy goal and develop a set of tactics to achieve that goal. This is why it isimportant to make each strategy goal measurable.Marketing strategies are dynamic and interactive. They are partially planned and partially unplanned. See strategy dynamics.

Types of marketing strategies

Every marketing strategy is unique, but if we abstract from the individualizingdetails, each can be reduced into a generic marketing strategy. There are a number of ways of categorizing these generic strategies. A brief de scription of the mostcommon categorizing schemes is presented below:Strategies based on market dominance - In this scheme, firms are classified basedon their market share or dominance of an industry. Typically there are three typesof market dominance strategies: Leader Challenger Follower P ort e r gene ri c st rat e gi es - st r at eg y on t h e di m ensi ons of st rat e gi c s cope and strategic strength. Strategic scope refers to the market penetration while strategicstrength refers to the firms sustainable competitive advantage. Cost leadership Product differentiation Market segmentationI n n o v a t i o n s t r a t e g i e s - T h i s d e a l s w i t h t h e f i r m ' s r a t e o f t h e n e w p r o d u c t development and business model innovation. It asks whether the company is onthe cutting edge of technology and business innovation. There are three types: Pioneers Close followers Late followersGrowth strategies - In this scheme we ask the question, How should the firmgrow?. There are a number of different ways of answering that question, but themost common gives four answers: Horizontal integration Vertical integration Diversification IntensificationA more detailed schemes uses the categories: Prospector Analyzer Defender Reactor

INSURANCE NEED

Why is insurance necessary? The question contains the answer within itself. After all, life is fraught with tensions and apprehensions regarding the future and what itholds for the individual. Despite all the planning and preparation one might make,no one can accurately guarantee or predict how or when death might result and thecircumstances that might ensue in its aftermath.We are not saying that life and existence are constantly fraught with danger anduncertainty. But then it is essential that you plan for the future. The chances for afatality or an injury to occur to the average individual may not be particularly high but then

no one can really afford to completely disregard his or her future and what it holds.People generally regard insurance as a scheme when and where you have to lose al ot t o gai n a l i t t l e. Nev ert hel ess, i nsuran ce i s st i l l t he m ost rel i abl e t ool an individual can use to plan for his future.And just why is it necessary to plan for the future with Insurance? An Overview Insurance business is divided into four classes: 1) Li f e Insur a nc e bu si ness 2 ) F i r e 3)Marine 4)M i s cel l aneous Ins urance. Life Insurers transact life insurance business; the rest is transacted by GeneralInsurers. No composites are permitted as per law.The busi ness of In surance es s ent i al l y m e ans de fra yi n g ri sks at t ach e d t o an yactivity over time (including life) and sharing the risks between various entities, both persons and organisations. Insurance companies (ICs) are important players i n f i n a n c i a l m a r k e t s a s t h e y c o l l e c t a n d i n v e s t l a r g e a m o u n t s o f p r e m i u m . Insurance products are multi purpose and offer the following benefits: 1. Protection to the investors 2. Accumulate savings 3. channelise savings into sectors needing huge long terminvestments.ics receive, without much default, a steady cash stream ofp r e m i u m o r c o n t r i b u t i o n s t o p e n s i o n p l a n s . variousactuary studies and models enable them to p r e d i c t , relatively accurately, their expected cash outflows. liabilities of ics being long-term or contingent in nature,l i q u i d i t y i s e x c e l l e n t a n d t h e i r i n v e s t m e n t s are alsol o n g - t e r m i n n a t u r e . s i n c e t h e y o f f e r m o r e t h a n thereturn on savings in the sh ape of life -cov er to t h e i n v e s t o r s , t h e r a t e o f r e t u r n g u a r a n t e e d i n t h e i r insurance policies is relatively low. consequently, the need to seek high rates of returns on their investments isalso low. the risk-return trade off is heavily tilted infavor of risk. as a combined result of all this, investmentso f i n s u r a n c e c o m p a n i e s h a v e b e e n l a r g e l y i n b o n d s f l oat ed b y goi , psus, st at e gov ernm ent s, l ocal bodi es , corporate bodies and mortgages of long term nature. thelast place where insurance companies are expected to beover - act i ve i s bo urses. l at el y i cs hav e vent ured i nt opens i on schem es and m ut ual funds al so. however, l i f e i n s u r a n c e constitutes the major share of insuranceb u s i n e s s .

LIFE INSURANCE DEPENDS UPON THE LAWS O F MORTALITY AND THERE LIES THE DIFFERENCE BETWEEN LIFE AND i n financial markets as they collect and invest large amounts of p r e m i u m . Insurance products are multi purpose and offer the following benefits: 1. Protection to the investors 2. Accumulate savings 3. channelise savings into sectors needing huge long terminvestments.ics receive, without much default, a steady cash stream ofp r e m i u m o r c o n t r i b u t i o n s t o p e n s i o n p l a n s . variousactuary studies and models enable them to p r e d i c t , relatively accurately, their expected cash outflows. liabilities of ics being long-term or contingent in nature,l i q u i d i t y i s e x c e l l e n t a n d t h e i r i n v e s t m e n t s are alsol o n g - t e r m i n n a t u r e . s i n c e t h e y o f f e r m o r e t h a n

thereturn on savings in the sh ape of life -cov er to t h e i n v e s t o r s , t h e r a t e o f r e t u r n g u a r a n t e e d i n t h e i r insurance policies is relatively low. consequently, the need to seek high rates of returns on their investments isalso low. the risk-return trade off is heavily tilted infavor of risk. as a combined result of all this, investmentso f i n s u r a n c e c o m p a n i e s h a v e b e e n l a r g e l y i n b o n d s f l oat ed b y goi , psus, st at e gov ernm ent s, l ocal bodi es , corporate bodies and mortgages of long term nature. thelast place where insurance companies are expected to beov er- act i ve i s bo urses. l at el y i cs hav e vent ured i nt opens i on schem es and m ut ual funds al so. however, l i f e i n s u r a n c e constitutes the major share of insuranceb u s i n e s s . l i f e i n s u r a n c e d e p e n d s u p o n t h e l a w s o f mortality and there lies the difference between life and