Assessment 3 1

Student's name:

Course Title:

Professor:

Date:
Assessment 3 2

Introduction

In this project, I opted to evaluate Budget Direct Insurance Corporation, a reduced, value-

focused policy product of Automobile & General Western Australia, Australia. Auto & General

Insurance Corporation Ltd underwrites their car and home term insurance. Automobile &

Commercial Insurance Firm is an APRA-regulated Australian insurance corporation that is also a

member of the Insurers Council of Australia (About Budget Direct). Budget Direct is a

subsidiary of the Budget Insurance business founded in the early 1970s and collects $2 billion in

payments every year for its 6.8 million claims.

Budget Direct maintains various marketing techniques, with a significant focus on using

social networking sites and advertising campaigns to promote vegemite. These measures have

been suggested in three stages: planning, design, and administration. During the planning stage,

the organization analyses the buyer persona or the requirements that cause a person to buy

vegemite (Rezaei-Moghaddam & Izadi, 2019). It is vital to note that the assessment of client

requirements is part of the shopping experience, which consists of five steps: need identification,

information seeking, alternative assessment, buy, and post-purchase behavior (Stankevich,

2017). The second step is developing a marketing campaign, during which the corporation

decides on topics such as the kind of insurance coverage and messaging to be used in

advertisements based on psychological elements such as motives, beliefs, dispositions,

knowledge, and perceptions. The elements considered while developing strategies are tied to the

cognitive psychology concept, which defines subconscious elements that urge humans to make

choices (Stankevich, 2017). The third step is the administration phase, in which the organization

evaluates the effectiveness of its marketing strategy performance.

Budget Direct's current integrated marketing campaign

Assessment 3 3

Because service quality with Budget Direct insurance clients has dropped over the

previous year, it was essential to conduct a study to identify problems connected to the

corporation's marketing objectives and the sales promotion mix utilized to interact with a specific

target. Importantly, this analysis reveals valuable information that reveals if marketing

techniques are related to the conclusions from my two earlier analyses of customer behavioral

aspects. Furthermore, the facts in this report are backed by the consumer behavioral concepts that

were researched throughout this quarter. Furthermore, emphasis on educational materials, three

strategic suggestions for the firm have been offered in this research.

Ads

Budget Direct's earlier commercials featured a couple named Michael and Michelle

(Horan, 2021). Michelle's misspelling of the term "Budget" while describing the advantages of

Budget Direct insurance to Michael, who constantly rectifies her language, was the focus of the

commercials. Budget Direct relaunched in August 2013 with an extraterrestrial edition of the

bathtub commercial featuring cartoon creatures rather than Michelle and Michael. This featured

the unveiling of a revised brand strategy and logo designed by Hulsbosch (Horan, 2021). In

Early March 2014, it was announced that the company had commissioned 303Lowe to create

new TV advertisements using a daredevil named Captain Risky and the phrase "We do not even

cover Captain Risky to maintain rates cheap," to highlight the company's moderate risk

marketplace placement (VanderLinden et al., 2018).

Television and Radio Advertising

Advertising has traditionally been an efficient means of communicating with vast groups

of people in a short period. While it might be costly, it is the most productive in the long run for
Assessment 3 4

its broad reach. The role of marketing is to consolidate a worldwide brand's identity and swiftly

and successfully communicate its idea to global customers. Based on the business and its target

demographic, this promotional mix offers a plethora of channels to select from.

Adverts may be found in print, billboards, TV, broadcast, and the internet. Budget Direct,

an insurance firm, recently employed TV marketing strategies to promote its marketing message.

The upside of the dog holding a lightsaber ad is that it has made the characters more sympathetic

and amusing. Budget Direct's celebrity endorsement has taken the sting out of insurance and

enabled them to engage with their target demographic and customers solely based on character.

Direct Marketing

Direct Marketing is a sort of brand awareness in which brand information is presented to

just individuals who have comparable interests. While sales promotion has characteristics with

product media, this specific target market renders it more receptive to attaining brand objectives.

Budget Direct employs a website designing and online marketing firm and direct mail as a kind

of brand interaction for both their consumers and their firms' consumers. The success of targeting

pre-committed consumers implies that there is a greater likelihood of a return in sales, inquiries,

or expressions of interest. An information system at a cost is a realistic approach to direct mail in

a sales-driven dialogue. E-Marketing is a commonly available resource that allows the company

to speak with and display their customers directly regarding their brand identity and product

qualities.

Digital/Internet Marketing

Presently, internet advertising is undoubtedly among the most popular forms of brand

awareness. Utilizing the internet and web platforms to promote business is a no-brainer in today's

technology-driven climate. Budget Direct employs a wide variety of marketing strategies,

Assessment 3 5

including EDMs, web analytics, blogs, partnerships, and more, giving firms many options for

effectively targeting their customers. Companies can efficiently market their business via

marketing on streaming networks such As YouTube by using custom-made films, information,

and graphics. Budget Direct's utilization of sponsorships helps the business to maintain its high-

class image while catering to a varied age and interest population. They may also obtain a two-

way reaction from the public by engaging with the commercial life or remarking on social

material and YouTube clips.

Website

Based on Budget Direct's homepage, "the company considers ecological consequences at

every step of creation, methodically assessing each component's possible impacts." According to

Sevostianov (2019), "certain dispositions are essential to an individual because they represent

ideals that are vital to that individual's self." Per the findings of a study done by Lau et al. (2020),

"people who normally demonstrate care for the environment would remain loyal to their

preferred firms when resilience is initiated." It indicates that if consumers purchase a product

since it matches their own beliefs, they are more likely to stay satisfied in the long run.

Alignment with the previous findings

In recent decades, there has been a substantial shift in the manner of marketing messages

are conducted. According to Fill and Turnbull (2019), "the attention was on advertising 'to'

people via a purchase and persuasive orientation, but today it is about connecting 'with'

consumers, where the attention is on engagement and connections." According to study results,

negative drive and aversion items significantly influenced buying motor insurance than positive

incentive and approach items. This information may coincide with customers' drive to have an
Assessment 3 6

appropriate and dependable guideline to avoid being harmed by excessive sunshine. According

to Budget Direct's advertisements, the corporation's services have been demonstrated to be the

finest in the industry. According to survey results, participants are more concerned with the

functionality of insurance protection itself than with other related services.

Interestingly, there are few viewpoints of marketing material on social media, which

typically contain things like the promotion of suitable product usage practices and good customer

evaluations. Nevertheless, a wealth of other valuable information and corporation participation

can only be found on the firm's site. To some extent, Budget Direct's content marketing message

does accord with the conclusions of the clip and survey study. The sample population impacts

decision-making in vehicle insurance purchasing since both video speakers and the majority of

the participants acknowledged it. Other people's suggestions have a favorable influence on

service usage. Budget Direct's sales promotion, on the other hand, still has a significant gap.

Much good marketing material was stored on the corporate website, but it was not stated on

every social networking site, like Instagram, Snapchat, or Online videos. Moreover, there is no

direct marketing channel on the firm's site that significantly reduces the likelihood of buyers

discovering such information.

Assessment 3 7

Strategic Recommendations

Increase the company’s social media management visibility. Social media networking

serves as a means of engagement between a firm and its customers. According to Essani et al.

(2017), "digital marketing places existing customers at the center of the corporate world and

gives advertisers with a unique set of capabilities to increase the brand awareness and

incorporate them into businesses in novel ways." Mobile text messaging is continuously gaining

popularity. According to Essani et al. (2017), "the influence of social media on the creation of

brand groups has been spectacular even at an embryonic level." As per Rayat, (2017),

"beneficial social media outlets are the most important drivers of customer loyalty, backed by the

relevance of the content, the attractiveness of the information amongst acquaintances, and

participating on various social media sites and offering applications." Budget Direct could

increase their social media platforms, particularly concerning favorable promotions.

Implement a direct sales channel

The corporate website is one of the least cost marketing interaction methods and provides

24-hour visibility to the usage of consumers and potential buyers. Budget Direct has a page with

a wealth of marketing material. By establishing a direct selling channel, more clients will be able

to evaluate this information. Meanwhile, the firm has greater control over subscription plans and

promotional activities. It directly creates connections with clients, which is hard to achieve when

the firm is at the whim of distributors' networks, who had enough influence. To use a direct sales

method keeps business and marketing professionals linked to clients and establishes a connection

with them, cutting out the intermediary and making it easy for them to obtain insurance services.
Assessment 3 8

References

About Budget Direct [1] accessed 13 Aug 17

Essani, A., Shahbuddin, A., Zubair, M., Siddiqui, R., Arshad, S., & Qamar, A. (2017). Impact of

Social Media on Women Buying Behavior towards Textile Sector. RADS Journal of

Social Sciencess & Business Management, 4(1), 51-63.

Fill, C., & Turnbull, S. (2019). Marketing Communications: Touchpoints, Sharing and

Disruption. Pearson UK.

Horan, C. (2021). Insurance Era. In Insurance Era. University of Chicago Press.

Lau, P. L., Anctil, T., Ee, G. T., Jaafar, J. L. S., & Kin, T. G. (2020). Self ‐Concept, Attitudes

toward Career Counseling, and Work Readiness of Malaysian Vocational Students. The

Career Development Quarterly, 68(1), 18-31.

Rayat, A., Rayat, M., & Rayat, L. (2017). The impact of social media marketing on brand

loyalty. Annals of Applied Sport Science, 5(1), 73-80.

Rezaei-Moghaddam, K., & Izadi, H. (2019). Entrepreneurship in small agricultural quick-impact

enterprises in Iran: Development of an index, effective factors and obstacles. Journal of

Global Entrepreneurship Research, 9(1), 1-21.

Sevostianov, P. (2019). The representation features of the personal experience substructures of

students with different self-concept profiles. Fundamental and applied researches in

practice of leading scientific schools, 32(2), 30-35.

Stankevich, A. (2017). Explaining the consumer decision-making process: Critical literature

review. Journal of International Business Research and Marketing, 2(6).

Assessment 3 9

VanderLinden, S. L., Millie, S. M., Anderson, N., & Chishti, S. (2018). The insurtech book: The

insurance technology handbook for investors, entrepreneurs and fintech visionaries. John

Wiley & Sons.