Marketing Strategies Of Progressive Insurance

Marketing may be defined as the process of formulating and implementing the design, positioning in market, advertising, and supply of products and services, and ideas to establish exchanges that are in line with the individual and organization goals (Principle of Marketing). There are several techniques of selling a product in marketing: advertising, selling and distribution of products or services to the customers. The strategy of the marketers is based on attracting potential consumers by making use of taglines, innovative packaging, having celebrity brand ambassadors, and media promotion with promises of fulfilling the needs of the consumers. There are similarly many techniques developed by insurance companies. Progressive insurance is a rapidly growing company leading by innovating. They have the saying “a leader in automotive insurance” (Progressive.com). This paper describes the company and the strategies that are implemented to draw consumers. It also focuses on the brand building of the company through advertisements.

With attractive offers and prices, Progressive Insurance strives to remain at the top with constantly evolving products and services. Currently, they give rates that are one of the best along with 24-hour personal and online services to all their customers across the United States. Their customers may make a purchase either by placing an order by phone, directly online, or through separate insurance agents. One such independent agent is Lujan Insurance, our family owned insurance agency that has been on the field for the last 26 years. Progressive has been the top selling insurance in our agency. The prices are dependent on the product chosen by the customer, the coverage expected, the discounts on offer and...

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... in their domain and in the clarification of doubts that may crop up in the minds of the customer. This move removes any such doubts. This also has added advantages. “Customers would first visit the website of Progressive to compare insurance prices which can also lead them to make a purchase then and there. There is better chance of conversion when Progressive is the first company to interact with the customer.” (Progressive.com)

This audacious move of Progressive in marketing would in the end turn out to be profitable in terms of new customers and powered policy collections. “Our goal is to have an edge over the competition by providing customers exemplary products and services as they want them, when they want them. This has been our fundamental philosophy and it has helped us in becoming one of the top auto insurance companies in the country.” (Progressive.com).