MK-00100 Our Most Probable Customer

How will my company identify its target markets?


 

 

PRINS INSURANCE MOST PROBABLE CUSTOMER

 

 

Central Demographic Model

 

Location

Sioux Falls, Minnehaha & Lincoln Counties in South Dakota

Age

35 to 55

Gender

50% female 50% male

Marital Status

Married or Single

Occupation

Blue collar Office - or Semi-professional

Employment status

High proportion of 2-earner households or retired

Income

$40,000 to $90,000 Family Income

Education

High School Education 75%  College degree  25%

Credit Rating

Good Credit

Homeowner

Yes  (10% to 20% are not homeowners)

Children

50% have children living at home

What Religion

?

What Music

?

What TV stations

?

What Radio Stations

?

What Hobbies

?

What Cars

Standard performance cars

What Hobbies

?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product Market Grid Personal Lines of Insurance Worksheet

Markets 

Products 

Married

Own Home

50% Children at Home

Age 35-55

Married

Own Home Children Not

At Home

Age 56-65

Married

Own Home

Children Not

At Home

Age 66-80

Total Sales For Each Product Line Includes all age groups

Preferred Auto Insurance

630,000

Medium Service  High Retention

210,000

Low Service

High Retention

266,000

Low Service

High Retention

1,400,000

Preferred Home Insurance

135,000

Low Service

High Retention

45,000  Low Service

High Retention

57,000  

Low Service

High Retention

300,000

 

 

Priority Market Sets for Personal Lines of Insurance

 

1.        Preferred Auto/Married 35 to 55, homeowner, with or without children at home

2.        Preferred Home/ Married 35 to 55, homeowner, with or without children at home