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MKTG 331 Piatselchyts: Getting Started

Avery Hall Insurance Group Project Spring 2023

Getting Started: Who Is Your Target Audience?

This project involves creating an ad strategy for an event hosted by Avery Hall Insurance to attract new business..

Some thoughts to keep in mind...

  • Who is the target audience for your event? 
  • What would motivate them to attend? What's important to them?
  • Are there any characteristics or challenges unique to this audience that your ad strategy should acknowledge?

Use the resources below to explore and research different aspects of your target audience. Be sure to refer to the other tabs across this guide for additional resources and strategies.

Determining Size

Resources for determining size within a specific geographic/market area.

How big is the target market? How much growth is expected?

Determining Location

Avery Hall
308 East Main Street
Salisbury, Maryland 21801

Center of geographic target area – Office Location + 60 miles

Trends in Insurance Marketing

Life Insurance Marketing and Research Association (LIMRA)

LIMRA's research is qualitative and quantitative, indentifying growth opportunities and better penetration of the insurance market as well as monitoring the key trends within the industry. This research also allows members to  track their market position while accessing this research. Much information is publicly available though some is behind a paywall that requires membership.

Industry Trends
Fact Tank Sales Data

Professional Insurance Marketing Association (PIMA)

PIMA is a membership association that has a sampling of free industry articles on their website. Trends in insurance marketing may be found at PIMA's "In the News" section.

McKinsey Report on the 2022 Individual Health Insurance Market

Management consulting company, McKinsey & Company, published this report to share their analysis of the individual health insurance market from 2014 to 2022. The report outlines trends in products, plans, and prices.

Articles of Interest:

Ad Age

Funny faces of insurance: Beginning with Geico's gecko in 1999, insurance brands have found a successful model in using silly mascots and characters to pitch a serious business. And the trend is picking up steam: Allstate recently resurrected "Mayhem" after sidelining him for more than a year. Here is a look at some of the hardest-working fictional insurance sellers in the biz. (2022). Advertising Age, 93(1), 18.

International Journal of Business Ecosystem & Strategy

Kajwang, B. (2022). Effects of digital marketing practices on performance of insurance sector: A critical approach with a review. International Journal of Business Ecosystem & Strategy, 4(4), 89-95.



NAICS Code and Industry Reports

5424210 - Insurance Agencies and Brokerages

524114 - Health and Medical Insurance Carriers

Barnes Reports: Insurance Agencies & Brokerages Industry (NAICS 52421)

Barnes Reports: Health and Medical Insurance Carriers (NAICS  524114)

The Barnes Reports are the leading publications on U.S. industries and estimates and forecasts on sales and employment demographics. As a way of making the most of this information, we have included a few suggestions and tips to aid you in processing and using this information. Managers, planners, and market researchers use this information for a variety of activities:

• Sizing markets and segments – You can estimate the size of the regional markets you sell in and your company’s market penetration into that market. You can do the same with the market segments in which you participate.

• Sales territory potential – You can estimate your market penetration and also the market potential in any regional area or market segment.

• Sales forecasting – With the estimates on the size of the industry, market researchers supporting a sales force can then estimate and forecast the future size of the industry.

• Advertising strategies – You can use this information for forecasting and estimating sales potential and target advertising campaigns.

• Competitive analysis – You will use the information to locate your possible competitors (if it is not already known), to estimate their size, growth and strengths and weaknesses and to see what market segments in which they participate. 

Government Data