Title: ANALYSIS OF DIFFERENTIATION AND POSITIONING STRATEGIES ON CONSUMER PERCEPTIONS IN TAKING A LIFE INSURANCE POLICY IN SURABAYA
Author: Umi Salamah
Item Type : Thesis (Thesis)
Affiliations: Master of Management Study Program, Faculty of Economics and Business, Universitas Airlangga , Surabaya, Indonesia
Publisher: Universitas Airlangga
Abstract
Until now, differentiation and positioning strategies have been believed by business people as a strength to be able to fight competitors and capture a wider market share, but creating meaningful differentiation is not easy, not every difference is a differentiator. The difference made must meet several criteria, namely: important, unique, superior, communicable, pre-emptive and affordable, so as to be able to create a competitive position that is meaningful and different in the minds of target customers. Companies that want to create differentiation must first conduct research on developing differentiation and positioning strategies regarding current consumer perceptions. The results of this research 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 research. This research includes Multivariate analysis with interdependent variables. Problem solving uses Factor analysis and Multi Dimensional Scaling (MDS). This research began with preliminary research. Preliminary research is used to test the validity and reliability of the questionnaire created, as well as to input data about the attributes that are used as a basis for consideration in deciding whether or not to take a life insurance policy. The results of the validity test analysis using the product moment formula using the anabut technique (item analysis), showed that all the questions were valid except for one question (question number 6) which was invalid, this question was removed from the questionnaire. The results of the reliability test using the Alpha formula show that the questionnaire is reliable. From this preliminary research, 11 consumer perception attributes can also be input. In the core research, data was input for factor analysis and for MDS analysis. The result of factor analysis is to reduce the 11 existing attributes into 7 consumer perception attributes and these 7 attributes are grouped into 3 factors, namely: (1) “internal” factors, consisting of Benefit, Protection and Profile attributes, (2) Factors “external”, consisting of Product attributes and Claims, (3) Factors “Extra”, 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 is not yet close to the ideal point position which is in dimension 2. Bumiputera 1912 Insurance, Guarantee 1962, and Tugu Mandiri are in dimension 1, so it can be said that these three insurances have differentiating factors from their competitors. on the Benefit, Protection and Claim attributes. Meanwhile, Astra CMG Life and AIG Lippo Life Insurance have a position close to dimension 3, which means that both insurances have differentiating factors from their competitors in the Service and Benefits attributes. From the results of this MDS analysis, it can be concluded that the five insurance industries need to reposition themselves so that they are able to occupy a position close to the ideal point. Apart from that, the five insurance industries must be able to create gaps in positions that their competitors' insurance industries cannot occupy, so that the insurance industry must be able to create a differentiator that its competitors do not have.
Keywords: INSURANCE, LIFE
Sources: http://repository.unair.ac.id/34809/
