Marketing Services Model for Integrating Internal and External Marketing Functions: The Antecedents on Life Insurance Corporation (LIC), Tamilnadu

Abstract

The deregulated market environment calls for well-thought-out marketing strategies with defined purposes to realize the organizational objectives such as customer retention, enhancing corporate image, growth in market share, better return on investment apart from creating satisfied or delighted customers. Designing and implementing marketing mix element strategies (i.e., Product, Price, Place, Promotion, People, Process and Physical Evidence) play a vital role in facing the competitive environment to achieve a competitive edge over the opponents. The study will be worthwhile in designing the basic strategies for marketing of life insurance products in the competitive environment and in the evaluation of policies and strategies presently followed in both rural and urban segments. The major aim of this research work is to determine the marketing services as an internal and external marketing factor for (LIC) Life Insurance Corporation, Tamilnadu. The nature of the research is exploratory method, and the sample size is 520 LIC policy holders in and around Sivangangai District, Tamilnadu and data collection method used in the research is “Questionnaire Method” through personal interview. Data will be analysed by using SPSS 20.0 and Smart PLS 3.0. Findings, discussions, implications and conclusions were made by keeping an eye on the research objectives.