Describe how the company/business used the four “P’s” to add value and/or promote the product or service.
Product- Aflac Health Care
Price- They don’t discuss pricing, but rather feature their ability to take on complex challenges and offer solutions.
Place- North America
Promotion- An ad placed in a Human Resource magazine with a doctor holding up an x-ray of the bird’s (company mascot) wing. This ad calls attention to the phrase, “Replacing a human hand is a unique challenge. So is protecting our employees.” Both the doctor and his assistant have smiles on their faces and are enjoying what they are doing. This promotion has a light hearted and personal feel to it. Using the language, “our employees” shows that Aflac and the consumer want to take care of their employees.
2. What industry(s) is the product or service a part of?
Health Care. Insurance. Medical Services
3. Describe the target market.
Aflac has significant competition in the Health Care/Insurance industry. However, Aflac has made significant efforts to penetrate the market with their promotions. The target market for Aflac’s Health Care provision is to Employers. Aflac is primarily headlining their competent staff that is able to provide “certainty in times of uncertainty.” Employers are going to be looking for a cost efficient method that will also take care of their employees. This ad tells me that Aflac is targeting employers who are more concerned with quality of care than cost.
4. Does it work? Why or why not? Any general observations?
Aflac does a good job of covering their bases and penetrating the market. This is the second time I have run into an Aflac ad within the past couple of days. Both times have different target markets because Aflac has such a wide selection of offerings. Aflac placed this ad in a highly respected HR Magazine. They are going to get some credibility for being in such a reliable source. Magazine ads are not the most effective marketing tool, but considering the prestige of this magazine it is a successful means of communication.