Increasing liberty insurance's brand awareness in order to bee in the top 5 of non-life insurers in Vietnam by 2014

LE THUY KIM LOAN

INCREASING LIBERTY INSURANCE’S BRAND

AWARENESS IN ORDER TO BE IN THE TOP 5 OF NON￾LIFE INSURERS IN VIETNAM BY 2014

MASTER PROJECT

MASTER IN BUSINESS & MARKETING MANAGEMENT

Tutor’s Name: Dr. Le Thanh Long

Ho Chi Minh City

2012

TRƯỜNG ĐẠI HỌC MỞ TP.HCM UNIVERSITÉ LIBRE DE BRUXELLES

HO CHI MINH CITY OPEN UNIVERSITY SOLVAY BRUSSELS SCHOOL

MBMM5

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COMMITMENT

I commit that I researched, collected materials, synthesized, analyzed and wrote this

dissertation by myself under directive professors’ help. All information and figures

which are used in this dissertation originate from clear, honest and publishable sources.

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ACKNOWLEDGEMENTS

Firstly, I would like to express heartfelt thanks to Doctor Le Thanh Long who

encouraged and directed me with all his heart on the way of this project, and helped me

to finish this dissertation

I would like to express my deep acknowledge to Mr. Pham Truong Khanh - Marketing

Director of Liberty Insurance Company. With valuable advices, relevant information and

recommendations, he support me a lot during this study

I would also like to express my deep gratitude to Professors, Coordinators in Open

University for their guide

I would also like to thank to friends and colleagues in insurance companies and

universities, who provided me with abundant relevant information for this dissertation.

My special thanks go to my family and relatives, who have continuously given me the

inspiration to complete this dissertation.

Thank you very much!

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TABLE OF CONTENTS

COMMITMENT .................................................................................................... 1

ACKNOWLEDGMENTS ...................................................................................... 2

LISTS OF TABLES AND FIGURES ..................................................................... 5

APPENDIX 1 LIBERTY BRAND AWARENESS RESEARCH ........................... 42

APPENDIX 2 NON-LIFE INSURERS IN THE MARKET IN 2011 ...................... 43

APPENDIX 3 BRAND AWARENESS OF NON- LIFE INSURERS IN 2011 ....... 46

APPENDIX 4 ADVERTISING PICTURES ........................................................... 47

REFERENCES ...................................................................................................... 56

CHAPTER 1: INTRODUCTION

1.1 Background of project ...................................................................................... 6

1.2 Objectives of project ........................................................................................ 7

1.3 Scope of the project ......................................................................................... 7

1.4 Methodology .................................................................................................... 7

CHAPTER 2: LITERATURE REVIEW

2.1 Brand awareness .............................................................................................. 8

2.1.1 Definition ...................................................................................................... 8

2.1.2 Brand awareness establishing ....................................................................... 8

2.1.3 Brand awareness components ....................................................................... 8

2.1.4 Brand awareness building steps .................................................................... 8

2.2 Brand awareness through audience tool of communication ............................. 9

CHAPTER 3: OVERVIEW OF NON-LIFE INSURANCE INDUSTRY

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3.1 Overview of non- life insurance industry ......................................................... 11

3.1.1 The concept of non-life insurance ................................................................. 11

3.1.2 Insurance purpose ......................................................................................... 11

3.1.3 Non-life insurance market in 2011 ................................................................ 12

3.2 Overview of Liberty insurance company ......................................................... 15

3.2.1 Introduction of Liberty insurance company ................................................... 15

3.2.2 Brand awareness of Liberty insurance company ........................................... 18

3.2.3 Brand strategy of Liberty insurance company ............................................... 19

3.3 Overview of competitors in non-life insurance market in Vietnam ................. 20

3.3.1 Major competitors in the market ................................................................... 20

3.3.2 Brand awareness of competitors ................................................................... 21

3.3.3 Brand strategies of competitors ..................................................................... 22

CHAPTER 4: SOLUTION AND IMPLEMENTATION

4.1 Brand awareness analysis ................................................................................ 28

4.2 Solution ............................................................................................................ 28

4.2.1 Stage 1 plan......................................................................................................33

4.2.2 Stage 2 plan......................................................................................................36

CHAPTER 5: CONCLUSIONS

5.1 Conclusion ....................................................................................................... 40

5.2 Limitations of the projects ............................................................................... 40

5.3 Recommendation ............................................................................................. 41