Page 4: Business strategy
Business strategy is the means by which a firm seeks to achieve its aims and objectives. Zurich's aim is to be the leading insurance provider, as measured by customer satisfaction, shareholder returns and employee engagement.
All of Zurich's primary and secondary research had led to the conclusion that customers want relevant, reliable help from their insurance provider. No other insurance company was trusted by customers to provide this level of support. These research findings helped Zurich to identify the position it should take in the market. The strategy was to make the Zurich brand synonymous with 'help'.
Positioning the brand
The illustration shows how Zurich has responded to its research findings to position the brand. This is a deliberate attempt to create an image or identity for a particular brand or product.
Zurich's position involves:
- giving customers what they need
- in the right place and at the right time
- in a fast, fair and easy way
- with Zurich's people focusing entirely on customer requirements.
Communicating the positioning
For the brand positioning to be effective, it needed first to be explained in detail to Zurich employees. This was done through an extensive internal communications campaign and training.
The new position was also communicated to customers, investors and the media through a brand promotion campaign. This campaign included:
- advertising across the globe, e.g. in television adverts, airports and outdoor billboards
- online through the Zurich website
- sponsoring sporting and arts events
- direct mail and email marketing.