Marketing Strategy Case Competition
Participants must use their marketing research, knowledge, and experience in order to discover the best solution for this case. Participants will be provided with a company, target market, and challenge (this is listed below). They will then present a solution to the judges. The competition will take place between 1:00 - 3:00 PM. The winner and top 3 teams will be announced during closing remarks. Finalists will receive a certificate and a prize.
Register here. Teams may consist of 1-2 people. There is no limit to the # of students per chapter that can compete in the competition. Questions? Contact Alisha Mohammed at firstname.lastname@example.org.
Bankers Life was founded in 1879. Our company helps retirees manage financial stability in retirement by protecting assets from high medical costs, facility/homebased care, market volatility, and final expenses.
Our target market at the moment is the Baby Boomers. Currently, there are 10,000 people turning 65 everyday in the US as 78 million people retire into their benefits they have contributed to since their first job.
Our challenge is targeting people who are turning 65 years old in a certain window of time, known as their Initial Enrollment Period. Each potential client has a 7 month window surrounding their birthday during this particular age to enter into the benefits they qualify for. They get a one time period where health conditions are not considered. Should they ignore this time period, and not adequately prolong the demands of this period, it could cause penalties in their future from the Medicare system. Our job as licensed professionals is to:
Contact this person in their 7 month window (which we do have their information)
Set an appointment with them during this time to compare current benefits through employers with their government benefits they’ve earned
Present the differences and assist in the enrollment process if the government benefits outweigh their work benefits (typically the case)
Our goal is to reach out to the turning 65 individuals and set appointments with them. Currently we send mail to them and follow up on that mail asking to set up a review. We would like ideas on how to target each person and set a time to sit down with them to review their benefits and compare the ones they now qualify for.