Meloche Monnex Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Introduction

Meloche Monnex is an insurance company that has an aim set to make the shift from using traditional mail to email when contacting their customers is also considering using sweepstakes as a form of promotion and also want to highlight their ability to provide the best price within the domain of insurance. The company would have to align these business goals with the employees and ensure that they understand the importance of these goals and how they will be achieved. Meloche Monnex would have to fill in the talent gaps for the employees to be able to order, to switch from mail to email and devise a new promotional strategy that would incorporate their price competitiveness and design an appropriate sweepstakes competition. When analyzing the company and conducting a situational analysis, which consists of company, collaborators, customers, competitors and climate, this gives and holistic picture of all the working of the company and their mechanisms.

Situation Analysis

Starting with the company that is Meloche Monnex an insurance company specializing in P and C, which means “life” and “non-life”, with a considerable share in the insurance market. Their strength lies in the affinity circle niche they have catered for themselves, including university and professors alumni who form the basis of their success. As the insurance market becomes more competitive, these affinities allow them to charge the “relatively affluent group (e.g., university alumni), 10%–20% higher than the industry average. These liberations for the company also constraints them as when the members of affinity are the main customers the university has some guidelines that it requires Meloche Monnex to follow.

The type of marketing activities used and the way telemarketing is done- is very specific, which would in no way result in any complaints or reduce the members' sense of belonging. As these Alumni “associations were managed by staff who did not want to have to handle complaints from their members about providers such as Meloche Monnex”. This does not allow them to take advantage of the external consultancies which specialize in telemarketing activities and have to carry out all these operations in-house.

5’C Model Analysis

Collaborators

The first “C” is referring to collaborators, which include the partners that do business with Meloche Monnex and help them function at their optimum level. This includes the staff helps in dealing with the alumni, the telemarketer staff, the associations, and VIP analysts. These associations are the key for making the business successful and thus relationships with them must be fostered for a long term relation. With the new changes it wants to incorporate in the company, Meloche Monnex may even have to invite new partners and with the changing times re-think their existing relationships with their existing partners i.e. the alumni associations.

Customers

Customers are essential for any business or company as they are the lifeline of the company. With the competition increasing in the insurance market and customers becoming more and more price sensitive, it is hard to keep a strong hold on a loyal customer base.

Their target audience is the affluent affinity circles associated with the universities prepared to pay 10%-20% more than the industry rates, who own both a house and a car, within the age brackets of 25-55. This segment of the market is prepared to pay the extra price in return for an exemplary level of service which keeps up-to-date with the new service provisions of the market. They maintain their loyal base by keeping the standard of high performance and fostering good relationships with the alumni associations using VIP analysts who sit with them and cater to their needs specifically.

Communication

After the target market is identified, the next task is to deliver a message to them with an aim to reach their consideration set and then comes the C- communications. An effective communications strategy can be formed which would foster and long-term relationship between the two parties. In order to maintain a 93% retention rate that the company is enjoying, it should make its communication strategy much more viable and continue to milk the reputation it enjoys. The telemarketers would have to improve their communication processes continually according to the needs of the customer in order to make it successful.............................

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Meloche Monnex is outpacing industry growth and profitability, thanks to its focus on proximity groups (mainly university graduates), as well as innovative technology telemarketing. If the e-mail marketing plays a big role in attracting customers, as recently proposed a field experiment? If the prospect to get the incentives, such as entry into a lottery for a luxury car? If advertisements emphasize the actual price competitiveness of more? In the process of assisting the Senior Vice President of Marketing Pierre Melancon make these three (apparently) tactical decisions, students quickly discover the strength and subtlety of a powerful niche strategy, while familiar with the context of the fascinating industry, as well as a number of innovative marketing technologies, are richly illustrated. "Hide
by Luke Wathieu, Kevin Morris Source: Harvard Business School 16 pages. Publication Date: July 7, 2003. Prod. #: 504008-PDF-ENG