Introduction
Nowadays, having insurance is a ‘nice thing’ to carry in case of emergency. In the U.S, most people should have at least one type of insurance. As for auto insurance, the law requires drivers to carry insurance when driving. Because of this need, the constant demand for having insurance drives many firms competing in this saturated market. In this analysis, the focus attempts to show GEICO Insurance promotional strategy in communicating its products and services to the market and identifies the effective ways in growing the brand-awareness.
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 officials and military members, but later on it expands to selling insurance to everyone. GEICO now offers coverage for more than just auto insurance including, homeowners, renter, boat, and many others (Geico’s Story, 2012). GEICO is also subsidiary company to the investment tycoon, Warrant Buffet. Since then, there were hefty budget on advertising that GEICO spent to boost the brand. According to Mya Frazier (2007), “GEICO’s fast climb up the brand-awareness ladder since 2001, when it topped at 82%. After spending an estimated $2 billion in advertising since then, 91% shoppers today say they have seen or heard at least one GEICO message in the past 12 months” (Frazier, 2007). By using GEICO advertising strategy, this analysis also highlights the promotional activities such as identifying target demographics, advertising channels, sales message, reach and frequencies.
Analysis of Advertising Channels
Advertising is an innovative field to communicate with people about products or services, but als...
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The company I’ve chosen to analyze for my Career Quest Alternate Assignment is Geico. Geico is a world leading insurance company that many know for their funny commercials featuring a gecko, as well as their famous slogan, “15 minutes could save you 15% or more on car insurance.” Geico was founded in 1936 by Leo Goodwin, and stands for Government Employees Insurance Company. Geico currently insures more than 22 million vehicles today, as well as 13 million auto policies and growing. In 1996, GEICO became a wholly owned subsidiary of Berkshire Hathway, headed by Warren Buffett, one of the country's most successful investors. Geico is headquartered in Chevy Chase, Maryland. Car insurance isn’t the only thing Geico offers, others includes ATV,
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Ogilvy's clients include: BBC, BP, Coca-Cola Co., Glaxo SmithKline, IBM, MasterCard International, Merck & Co. Merrill Lynch, Novartis, Pfizer, Unilever, Xerox, Argos, Ariba (UK) Ltd., Deloitte & Touche, Dubai World Cup, Intelsat, Kimberly-Clark Corp., Shell, Nestle, Pfizer, and Sun. Ogilvy PR Worldwide’s division B/W/R is dealing with media relations for celebrities such as Ben Affleck, Brat Pitt, Michael J. Fox, and Reese Witherspoon. Finally, several governmental bodies stand amongst Ogilvy's clients.
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“Not Being Advertised…How The Advertising Business Has Changed Over Time.” Ezine Articles, Allan Kalish, 22 December 2005. Web. 4 October 2009
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