ANALYSIS OF DIFFERENTIATION AND POSITIONING STRATEGIES ON CONSUMER PERCEPTIONS IN TAKING A LIFE INSURANCE POLICY IN SURABAYA

Amount: ANALYSIS OF DIFFERENTIATION AND POSITIONING STRATEGIES ON CONSUMER PERCEPTIONS IN TAKING A LIFE INSURANCE POLICY IN SURABAYA

Authors: Ummi Salama

Item Type: Thesis

Memberships: Master of Management Study Program, Faculty of Economics and Business Universitas Airlangga Surabaya, Indonesia

Publisher: Airlangga University

Abstract

Until now, the differentiation and positioning strategy has been believed by business people as a force to be able to fight its competitors and seize a wider market share, but creating meaningful differentiation is not easy, not every difference is a differentiator. The differences made must meet several criteria, namely: important, unique, superior, communicable, advance and affordable, so as to create a meaningful and distinct competitive position in the minds of the target customers. Companies that want to create differentiation, must first conduct research on the development of differentiation and positioning strategies against consumer perceptions at this time. The results of these studies can provide information on the company's current position, so that it can be used as a basis for determining future strategies, such as this study. This study includes multivariant analysis with interdependent variables. Problem solving using Factor analysis and Multi Dimensional Scaling (MDS). This research begins with preliminary research. Preliminary research is used to test the validity and reliability of the questionnaire made, as well as to input data about the attributes that are used as the basis for consideration in deciding whether or not to take a life insurance policy. The results of the analysis of the validity test using the product moment formula with the anabut technique (item analysis), the results obtained were all valid items except for one question (question number 6) which was invalid, the question was removed from the questionnaire. The results of the reliability test using the Alpha formula, indicate that the questionnaire is reliable. From this preliminary research, 11 attributes of consumer perception can also be input. In the core study, data were input for factor analysis and for MDS analysis. The result of factor analysis is to reduce the existing 11 attributes into 7 consumer perception attributes and the 7 attributes are grouped into 3 factors, namely: (1) 'internal' factors, consisting of Benefit, Protection and Profile attributes, (8220) ”external factors, consisting of Product and Claim attributes, (8220) ”Extra factors, consisting of Services and Benefits. These three factors then become three dimensions in the MDS analysis. The results of the MDS analysis show that the position of the five life insurance industries has not yet approached the ideal point position in dimension 2. Bumiputera 1912 Insurance, 1962 Guarantee, and Tugu Mandiri are in dimension 1, so it can be said that the three insurances have differentiating factors with their competitors in the attributes of Benefit, Protection, and Claims. Meanwhile, Asuransi Astra CMG Life and AIG Lippo Life have a position that is close to dimension 3, which means that both insurances have differentiating factors from their competitors in the Service and Benefit attributes. From the results of this MDS analysis, it can be concluded that the five insurance industries need to do repositioning so that they are able to occupy positions close to the ideal point.

Keywords: INSURANCE, LIFE

sources: http://repository.unair.ac.id/34809/