Onigbinde Isaac Oladepo, Ph.D.
Department of Business Administration & Marketing, College of Social & Management Sciences, McPherson University, Seriki Sotayo, P.M.B 2094, Abeokuta, Nigeria.
Abstract
This study evaluated the imperative of value creation via marketing of life insurance products in Nigeria. The study attempted to paint the picture of life insurance policies as unsought products; and simultaneously adopted premium pricing and hierarchy of needs theories as the underpinning theories under which the study is anchored. The study revealed that the imperative of value creation via the adoption of life insurance products in Nigeria can only be appreciated in the context of organic marketing functions. The study concluded that Nigerian people generally have negative attitude to life insurance products. The life assurance companies therefore need to entrench more professional marketing practices into their operations, and as well be sensitive to the customized needs of their respective clients in order to realize the relevance of life insurance as an engine room of value creation in this contemporary dispensation of fairer trade in goods and services.
Nigeria Journal of Management Sciences (NJMS), Benue State University
Value Creation Via Marketing Of Unsought Products: An Evaluation Of Life Insurance Products In Nigeria
Keywords: Life assurance companies, Life insurance, Marketing, Unsought products, Value creation.
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Benue State University, Makurdi, Nigeria.
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