An integrated marketing communications campaign proposal for Philam vitality active
The Philippine insurance market has seen exceptional double-digit growth in recent years. At present, there are about more than 25 million Filipinos covered by life insurance. This development is brought about by a relatively strong Philippine economy which grew to 6.1% full year gross domestic prod...
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| Format: | text |
| Language: | English |
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Animo Repository
2017
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| Subjects: | |
| Online Access: | https://animorepository.dlsu.edu.ph/etd_masteral/5342 |
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| Institution: | De La Salle University |
| Language: | English |
| Summary: | The Philippine insurance market has seen exceptional double-digit growth in recent years. At present, there are about more than 25 million Filipinos covered by life insurance. This development is brought about by a relatively strong Philippine economy which grew to 6.1% full year gross domestic product (GDP) in 2014 which was primarily driven by the country's rising middle-class population, increased urbanization and the underpenetrated life insurance segment
The insurance industry in the Philippines truly does offer significant future growth potential. It is set to benefit from steady improvements in household income rates and life expectance which will boost demand for a range of savings and retirement products. The country's employed population has constantly increased as well, and the quality of employment is promising. With the increasing millennial workforce with higher purchasing power, Philam Life targets to communicate living better, and healthier so they can achieve their goals and enjoy life longer. With the help of Philam Life's strong brand equity, Philam Life was able to maintain its spot in the Top 1 life insurance ranking in terms of net worth and assets. Moreover, the company is in good position on awareness and credibility.
This Integrated Marketing Communications Campaign aims to increase app usage for Philam Vitality Active app and further increase brand preference and strengthen the new brand equity. This campaign also aims to create strategies on how to reach the younger market with the main message of living active. With a marketing budget for Vitality Active of PHP20 million for 2017, this campaign will be channeled through a mix of advertising tools primarily digital media, but also includes out-of home promotions, print and TV. |
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