China's life insurance companies need to select one or several sub-markets as the target market based on the evaluation of each sub-market and their own strength, and make the market positioning of life insurance products according to the target market. The key to market positioning is to be accurate. As far as China's life insurance companies are concerned, it is necessary to position life insurance products in the target market from the following aspects:
1, Quality Positioning: When developing a life insurance product, what grade is the product quality controlled? This is called quality positioning. Life insurance companies can position their products as high-grade, middle-grade or low-grade according to the customer purchasing power, customer demand and competitors in the target market. The key is to distinguish yourself from your competitors and highlight your own advantages.
2. Functional positioning: Whether the positioning of life insurance products is single function or multi-function is also a question worthy of careful consideration by life insurance companies. Positioning in a single function, low rate, low cost, but can not meet the various needs of consumers; Positioning in multi-function, the cost will increase accordingly, and the rate of life insurance products will naturally be high, but it can meet the needs of consumers in many aspects. Positioning in multi-function and positioning in single function have their own advantages and disadvantages, depending on the development needs of life insurance companies themselves.
3. Rate positioning: Life insurance companies can set the rate at high-grade, middle-grade or low-grade according to the market and their actual situation.
4. Service positioning: highlight the advantages of service, and it would be better if it can provide services that exceed consumers' expectations.
5. Psychological orientation: Let consumers feel that buying a certain life insurance product is a kind of psychological satisfaction, such as the sense of superiority and the realization of self-worth.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.