The impact of covid-19 on the marketing strategies of smes of insurance companies: the case of prudential life insurance.
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Date
2023
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KNUST
Abstract
This thesis sought to unravel the impact of covid-19 on the marketing strategies of smes of insurance companies using prudential life as a case study. The covid-19 epidemic has had a significant and disastrous effect on smes of insurance firms all around the world, with the Ghanaian economy being particularly affected. All small and medium business industries have experienced operations disruption as a result of the virus outbreak. Using prudential life insurance ltd as a case study, this quantitative case study explored the overall issue of how the covid-19 epidemic affected the marketing initiatives of insurance firms. A thorough grasp of the covid 19 pandemic was supplied by the research by concentrating on the important research questions that helped to understand the problem statement. The case study results helped people comprehend how insurance businesses have survived since the beginning of the pandemic breakout. Descriptive statistics were also employed to give a snapshot of the variables used in the analysis. Results from the data analysis had a significant association between the pandemic and its effect on the marketing strategies of prudential life insurance. The case study company's personnel answered the questionnaires collectively to help guide these research conclusions. Additionally, the research case study results showed how the covid-19 pandemic affected prudential life's marketing strategy and how the company changed its business strategies to be adaptive and innovative as the pandemic got worse. The study also identified key lessons that insurance companies among others should learn. Notably, the research included suggestions for further study and the use of coordinated approaches to deal with a pandemic of this scale.
Description
A thesis submitted to the institute of distance learning, Kwame Nkrumah university of science and technology, Kumasi in partial fulfilment for the degree of master of science marketing.