Question

Topic: Branding

Predict Sales Of Branded Vs. Unbranded Insurance

Posted by ron.childress on 4/14/2015 at 7:39 AM ET 250 Points
If all things equal (price/benefits/networks)What would be diffence in sales between a well-known health insurance company product and an un-branded, unknown brand.
To continue reading this question and the solution, sign up ... it's free!
SUBSCRIBE
Or, SIGN IN

RESPONSES

  • Posted by Jay Hamilton-Roth on 4/14/2015 at 9:20 AM Member
    It depends on the perception of the trust in the brand.
  • Posted by mgoodman on 4/14/2015 at 11:13 AM Moderator
    Assuming the brand has a positive image, the well-known/branded insurance would be preferred over the unbranded offering. But rarely are all things equal. And the margin of preference would depend on the strength of the brand.

    What are you going to do with our responses to this question? Why are you asking?
  • Posted by ron.childress on 4/14/2015 at 11:19 AM Author
    I am process of determining if I should offer a health Insurance product and I have opportunity to do this with a well-known brand. However; it will take a lot of up-front work to make that happen and it would be much quicker to offer an un-branded product.

    If I could show the greater likelihood of achieving sales with a branded product, it may help obtain resources necessary. Would be great to have some way to quantify the difference.

    thanks
  • Posted by mgoodman on 4/14/2015 at 12:53 PM Accepted
    All the ways of quantifying the difference will be so expensive and imprecise that they are not practical. They may also take longer than you'd like. You'd also have to consider your target audience, their perceptions of the brand, the competition, skills of the salesperson, and a slew of other factors. And don't forget such factors as overall consumer confidence, the economy, employment rate, etc. All of these things can affect a brand purchase decision.
BACK TO TOP

Post a Comment

Related Discussions

Community Info

Top 25 Experts
(Branding)