Monday, April 9, 2012

Artifact 3 - Business Proposal

I.          Executive Summary
This is a marketing plan for Trey Styons.  Styons is looking for a position in the Insurance Market preferably home and auto insurance working with Nationwide.  Styons possess enthusiasm, work ethic and passion for employees and customers.  I am influenced by my father and motivated by my goals to succeed and carry his name.  Styons has worked diligently in his years at UNCW to earn a quality g.p.a. and create many lasting and favorable relationships.  Styons has earned respect of many professors and students alike and continues to market his brand well.

II.         Situation Analysis
The industry I plan on having a career is in Direct Property and Casualty Insurance Carriers. , NAICS code: 524126 (IBIS World) This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) insurance policies that protect policyholders against losses that may occur as a result of property damage or liability.  The role that I want to play in this industry is to oversee policies and assess and help Nationwide customers in an already established customer base.  I am fortunate that my dad already has his own place of business with Nationwide Insurance Company and that I just have to meet the requirements of Nationwide to carry on the business.  This industry is very competitive but I feel as if Nationwide is an established company with a long-standing customer base and brand.  Not everyone coming out of college wants to work for a church.  I feel like I obviously have a step up on most younger people coming out of college for obvious reasons such as it’s a family business.  I also think that not many people come out of college and want to do insurance but see it more as a fall back career.

A. Context
The regulatory or political forces that effect on Insurance are pretty obvious in the sense that all the claims have to be verified in order to receive insurance.  The economic forces that have been affecting insurance are definitely seen by the new online insurance companies that save a lot of money and resources for customers.  These companies are providing people with lower rates and more competitive deals.  This is why companies that are very personable such as Nationwide and State Farm have to make their prices more competitive.  The Insurance Industry has been around forever.  The stability of the insurance industry is about the same stability of health providers.  As long as people have valuables and the government requires policies for having insurance than people that have a passion and drive to work in the industry can remain employed.  I believe that my family business has an already established customer base and that many people in our community and very familiar with the last name and more than willing to work with me.  I mean this in the sense of relationship status and dealing with fluctuation of prices as the troubling times in the economy are around.  The socio-cultural forces that affect the insurance industry can be identified by the fact that having insurance is seen as a norm and almost a necessity to a certain degree.  People are shocked to find out when people do not have insurance on things that are dear and important to them.  Insurance is also a very traditional aspect of some families.  Children growing up having state farm insurance and remembering their parents being taken care of during a hurricane will be more likely to having a passion and respect for that company.  So when they begin to start paying their own way they know which company they can trust and start with. The technological forces that are in effect this industry are again the new companies online such as Geico and The General which save time, hassle and money for customers.  But they are very impersonal and hard to trust.  The last factor is natural forces.  The natural force very much affects the insurance industry and is relied on heavily.  People that experience natures forces whether hurricane, flood, tornado, etc… depend on insurance to help them get back on their feet to recover. 

B.     Customers
My customer base is very much established thru my father’s hard work yet,
there is still a market of customers I could reach out too.  I believe growing up in the community and creating many meaningful and favorable relationships can create more business for the company while maintaining an already considerable customer base.  Nearly 90 percent of Americans have homeowner or automobile insurance.  I feel like thru hard work and building relationships I can have a quality proportion of that business. 

1.      The Styons Agency – located on 2424 South Charles Blvd.  this is the place of business for Raymond Styons Jr. and his staff of agents.  He has been in business for 19 years and holds a long-standing relationship with the community
1.       Raymond Styons – Head agent
a.       E-Mail-
b.      Mailing address – 2424 S. Charles Blvd 27858

C. Company
What I want from this job is being able to help people out in their times of need.  To get the opportunity to work with a wide range of people and be that guy they can count on.  I would prefer to work in my family business with reasonable hours and a reasonable pay.  The location of my office is in Greenville, N.C.  I would say my strengths are that I am very impressionable and personal and know how to reach many different people.  My weaknesses include my time management skills and my A.D.D.  As far as constraints go, I do also want to referee basketball for a living and this may interfere with time issues in the winter time.

D. Competitors
My competitors really don’t have a shot over me in my family business.  I guess if I failed to run business properly that Nationwide would take action but as long as I take care of business then no competitors will affect me. 
- Strengths- Passion, People Skills, Family ties and help
- Weakness- A.D.D. and time management
- Opportunities- Being able to work with people and be my own boss
- Threats- The economy and the rates of Nationwide against competitors

            I am improving my weaknesses by working harder to be more organized in order to manage all my tasks that I put upon myself.  I am leveraging my strengths by continuing to grow up and be more understanding of everyone’s situation and being empathetic .

III.        Strategic Direction
            A. Career Objective
            I would love to graduate in May and then begin working for the company in the fall.  I would complete the required insurance courses and pass my tests in fitting time.  In 5 to 10 years I would like to head the business and be my own boss and in control of the company.  At this point I would make decisions about when I work and who would work for me and how this company could succeed.
            B. Segmentation
            I would love to continue working in Greenville where I know the people and everything about the town.  I think it would be very beneficial to me and there is no place like home.

C. Differentiation and Positioning
            I am currently differentiating myself from the competition because I am already set with my goals and my plan.  My father and I are very close and he respects that I want to be like him and keep family business going.
            Styons has positioned himself accordingly by succeeding at the high school and college level.  He is going to graduate with a degree from the University of North Carolina at Wilmington.  He is positioned and ready for work.

IV.        Marketing Strategy
            A. Career Objective
My short-term career ambitions are to get hired as a Nationwide employee and gain my insurance license along the way.  My long-term career ambitions are to be the boss of my own company and be able to determine my surroundings and schedule. 

B. Target Market
            My target market is the Nationwide agency in Greenville and the friendly people of my hometown.

            C. Product
            What I have to offer is my dedication and willingness to learn the ins and outs of the business.  I have a strong brand and will continue creating and maintain relationships favorable to me and the business in order to create satisfying relationships.
D. Price
            I would need to make $30,000 for a comfortable living and providing for a family but would hope to make a higher range eventually.  

E. Place
            I will be working in Greenville, NC and cannot see myself any place else unless business expansion.

            F. Promotion
            I will promote myself as a hard working individual who has goals of keeping the business going strong and holding to my family name.

V.         References Section
Works Cited
IRC. "Latest Findings." Insurance Research Council. IRC, May 2011. Web. 14 Nov. 2011. <>.

Nationwide. "Greenville, North Carolina | Insurance Agency | RAYMOND E. STYONS, JR. | NC Other Insurance |" Nationwide Insurance - Auto Insurance Quotes and Car Insurance Rates. Nationwide, Mar. 2011. Web. 14 Nov. 2011. <>.

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