THE ROLE OF PUBLIC RELATIONS IN MARKETING INSURANCE PRODUCTS IN NIGERIA
This research study concentrated on the Role of Public Relations in marketing insurance products in Nigeria.. The problem that necessitated this study were lack of adequate attention given to public relations, poor management of public relations units and failure to appreciate the great value of public relation as an internal marketing communications tool in some insurance companies. The objectives of this study were to examine the role of public relations, main tools of public relations and problems of public relations. To carry out this study effectively and precisely, research questions were formulated; questionnaire and oral interview were the research instruments used in collection of data. The data were presented in table and analyzed using likert scale of ranking and simple percentage responses. From the finding, it was discovered that public relations played many roles in marketing insurance products. The most effective roles among others were building up a good company's image and providing more product information to customers about products and its services. Also the tolls effectively and used in carrying favourable news about the company, its products and its people and speechless that is, creating products and company publicity by giving talks at sales meetings. The major other problems public Relations activities faced among other were fluctuation of demand by clients, some public relations marketers not being familiar with public relations tools and poor communications relationship between the employees and the company. Among the recommendations were: Insuring that public can be encouraged to increase their demand by making prompt payment of genuine claims which will boost the good images of the company and providing incentives to motivate and encourage public relations marketers, promoting efficiency and professional in carrying out their activities.
TABLE OF CONTENTS
Cover page i
Title page ii
Approval page iii
Table of contents vii
1.1 Background of study 1
1.2 Statement of problem 3
1.3 Objectives of study 4
1.4 Research Question 5
1.5 Research hypothesis 6
1.6 Significance of study 7
1.7 Scope Limitation of the study 8
1.8 Definition of terms 9
2.0 REVIEW OF RELATED LITERATURE
2.1 The Concept Of Public Relation 12
2.2 Objective Of Public Relations 16
2.3 Advantages Of Public Relations 17
2.4 Disadvantages Of Public Relations 19
2.5 The Role of Public Relations in the Marketing of
Insurance Products 21
2.6 Public Relations with the Publics 25
2.7 Main Tools Of Public Relation 29
2.8 Problems Affecting Public Relations Activities
Of The Insurance Companies In Nigeria 36
3.0 RESEARCH METHODOLOGY
3.1 Research design 40
3.2 Source of data 40
3.3 Population and Sample Size Determination 41
3.3.1 Population of the Study 41
3.3.2 Sample Size and Sampling Techniques 42
3.4 Description of Research Instrument 44
3.5 Validation of the Instrument 45
3.6 Method of Data Presentation and Analysis 45
4.0 DATA PRESENTATION AND ANALYSIS
4.1. Presentation Of Bio-Data 48
4.2. The Roles of Public Relations 50
4.3 Main Promotional Tools of Public Relations 54
4.4 Problems Affecting Public Relations Activities of
Insurance Companies 59
4.5 Test Of Hypotheses 65
5.0 SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
5.1. Summary of Research Findings 75
5.2 Conclusion 79
5.3 Recommendations 80
5.4 Suggestion For Further Studies 83
Appendix I 89
Appendix II 88
1.1 Background of the study
Public relation as a discipline and as a profession is changing in rapidly. It has undergone tremendous changes recent years. Public relations is an important marketing communications tool that can be used by to insurance industry for marketing their products. It can be employed both within and outside the organization. Public relations are the activities of a corporation, union, government or other organization in building and maintaining sound and productive relations with special public at large in order to adapt itself to its environment and interpret itself to the society.
Almost everything a business organization that makes dependable products and also believes in fair deals and consider the interest of its customers and various publics. Public relation is one of the means insurance industry can use to inform and educate members of its target audience above the existence of its products and service and to persuade them to patronize it or to develop favourable attitudes and opinion Public relation has a great role to play in the marketing of insurance products.
Public relation is not a new marketing communication tool for marketing products and services. Its modern day origins can be traced as far back as 1807, although evidence suggest that the ancient Greeks and Romans gave much attention influencing public opinion.
Public relation began as a government information and propaganda machine during world war one and was two. Public relations have now spread throughout industry and commerce. At first, full time public relation appointments were less common than use of the services of public relation consultants. Because of this slow internal adoption of professional public relations practitioners by industry and commerce, external public relation firms, quickly developed, many of them lacking skilled staff of sufficient expertise, but merely talking advantage of and exploiting the boom in the public relation profession.
The role of public relations in achieving sound relationship marketing practices as well its contribution to achieving good internal marketing is to been examined in this study.
1.2 Statement of problem
Public relations are an important management function in any organization. It is developed to communicate a message that coincides with the industry's goods and seeks to benefit mutual interest wherever possible.
Perceiving public relations by large Nigerians as external marketing tool attempting to communicate with a wide range of external "public" in order to cast the organization in a favorable light in people's minds. Limited and fails to appreciate the great value of public relations as an internal marketing communications tool. The observed performance of some the industry can be attributed to the non establishment of public relations department and poor management of public relations units were established, and such has led to unfavorable public opinion about the industry and made some people ignorant and reluctant in buying insurance products.
This work therefore seeks to study the role public relation play in promoting the marketing of insurance products in Nigeria and building favourable images of the industry.
1.3 Objectives of the study
The aim of this research work is to examine the role of public relations in the marketing of insurance products in Nigeria. The specific objectives of this research work includes the following:
1. To examine the impact of public relations in the development of Nigeria insurance industry.
2. To evaluate the effect of public relations in the development of an organization.
3. To ascertain the relevance of insurance in the economic growth of Nigerian.
4. To identify the problems hindering the effective performance of public relations in the marketing of public relations in the marketing of insurance services in Nigeria.
1.4 Research Questions.
The researcher formulate the following research questions which are:
1. Does public relations have any impact on the marketing of insurance products in Nigeria?
2. Does public relations have any influence in the development of an organization?
3. What are the relevance of insurance in the economic growth of Nigerian?
4. What are the problems hindering the effective performance of public relations in the marketing of public relations in the marketing of insurance services in Nigeria?
1.5 Research Hypotheses
The researcher formulate the following research hypothesis
H0: Public relations have any impact on the development of Nigeria insurance industry
H1: Public relations has significance impact on the development of Nigeria insurance industry
H0: Public relations does not have any effect on the development of an organization.
H1: Public relations has significant effect on the development of an organization.
1.6 Significance of the study.
Public relations have a vital role to play in the creation of an effective internal marketing culture within an organization. In this sense it has a realization of its importance as a strategic internal communication tool.
Throughout its development as a marketing communication tool, public relations has always been first and foremost an instrument for establishing, crystallizing cementing and maintaining mutually beneficial relationship with various group of people or publics.
This work will be helpful important to companies and industries that are about to fall or had a negative publicity to cope up and encourage organization that has adopt and appreciate public relation to keep it up. The study will be very useful to insurance companies since it is evaluating the role of public relation and carrying out the marketing of their products and in building the insuring public towards them.
Finally, to those in academic, it will for further research work.
1.7 Scope and limitations of the study
The study is limited to the roles of public relations as one of the marketing promotional tool in marketing of insurance products and the researcher in the course of the research work, encounter a series of limitations, some of the limitation includes:
1) Confidential of some of the vital document needed by the researcher and such document, was tagged confidential and could not be released to the researcher to boost the research work.
2) Lack of willingness, by the insurance officer to comply with the researcher, due to the lackadaisical altitude of some of the staff of the selected insurance companies for this study, the researcher find it difficult to strictly achieve her goal.
1.8 Definition Of Terms
Insurance: Is a pool of risk. Is arrangement whereby the fortunate ones are made to compensate the Unfortunate ones. (patty Nkem Ibik 2006).
Management: Is a pervasive profession but effective mangers are scarce resource in organization. Is the ability to know management form its root, grasp the essential and practice it that differentiates mangers from demage. (Erinma C. Nwandu, Nnanne B. Ani and Ojemba G. Agbo 2000).
Marketing: Is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others (Koler 2003).
Communication: Is the transmission of a message from a sender to a receiver (Priscilla N. Edoga 2005) Product: Is a bundle of physical and psy ions that a buyer receives from a purchase. (Norbert M.
Roles: Is the pattern of actions expected of a person in activities involving others (Erinma C. Nwandu 2000).
Tools: Its refers to things used in doing so Nwandu, Nnenna B. Ani and Ojemba G. Agbo 2000).
Image: The impression that the an organization the public (Onuoha, Chima B. 1994)
Promotion: Is the process of raising something or someone to a higher position or some other activities intended to increase the sales of production services (Patty Nkem Ibik 2006)