The extent to which pricing policy and strategy influence revenue generation of life assurance firms: Desktop study
Pricing policies and strategies are vital tools to confront competitive pressures in a market environment and also as a tool of improving the performance of the funeral sector. Funeral Assurances need to implement a pricing policy or strategy that maximize revenue but remain competitive in the targe...
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| Format: | research article |
| Language: | English |
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AnKa Publisher
2023
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| Online Access: | https://cris.library.msu.ac.zw//handle/11408/5377 |
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| author | Murwira M Tsitsi Wadesango Newman Sitsha Lovemore |
| author2 | Midlands State University, Gweru, Zimbabwe |
| author_facet | Midlands State University, Gweru, Zimbabwe Murwira M Tsitsi Wadesango Newman Sitsha Lovemore |
| author_sort | Murwira M Tsitsi |
| collection | DSpace |
| description | Pricing policies and strategies are vital tools to confront competitive pressures in a market environment and also as a tool of improving the performance of the funeral sector. Funeral Assurances need to implement a pricing policy or strategy that maximize revenue but remain competitive in the target market. Therefore, the purpose of this study was to investigate the extent to which pricing policy and strategy influence revenue generation of life assurance firms. This desktop study has successfully explored the factors that influence the implementation of pricing policies and strategies used by the funeral sectors. It emerged that in order to curve competition in the market, insurance firms should provide complete quality services to policyholders to add value to customers thereby maximising revenue. The results also showed that dynamic pricing is the best for premium pricing even if it was not yet implemented by life assurance firms. The study recommends that the prices charged for funeral cover packages by the funeral assurance companies should be
affordable to all individuals including the low-income earners so that there would generate more revenue |
| format | research article |
| id | ir-11408-5377 |
| institution | My University |
| language | English |
| publishDate | 2023 |
| publisher | AnKa Publisher |
| record_format | dspace |
| spelling | ir-11408-53772023-03-02T14:36:21Z The extent to which pricing policy and strategy influence revenue generation of life assurance firms: Desktop study Murwira M Tsitsi Wadesango Newman Sitsha Lovemore Midlands State University, Gweru, Zimbabwe University of Limpopo, Polokwane, South Africa Midlands State University, Gweru, Zimbabwe Pricing policy Revenue generation Life assurance firms Pricing strategy Pricing policies and strategies are vital tools to confront competitive pressures in a market environment and also as a tool of improving the performance of the funeral sector. Funeral Assurances need to implement a pricing policy or strategy that maximize revenue but remain competitive in the target market. Therefore, the purpose of this study was to investigate the extent to which pricing policy and strategy influence revenue generation of life assurance firms. This desktop study has successfully explored the factors that influence the implementation of pricing policies and strategies used by the funeral sectors. It emerged that in order to curve competition in the market, insurance firms should provide complete quality services to policyholders to add value to customers thereby maximising revenue. The results also showed that dynamic pricing is the best for premium pricing even if it was not yet implemented by life assurance firms. The study recommends that the prices charged for funeral cover packages by the funeral assurance companies should be affordable to all individuals including the low-income earners so that there would generate more revenue 20 19 940 954 2023-03-02T14:36:20Z 2023-03-02T14:36:20Z 2022-12 research article https://cris.library.msu.ac.zw//handle/11408/5377 10.48047/nq.2022.20.19.NQ99086 en NeuroQuantology 1303 - 5150 open AnKa Publisher |
| spellingShingle | Pricing policy Revenue generation Life assurance firms Pricing strategy Murwira M Tsitsi Wadesango Newman Sitsha Lovemore The extent to which pricing policy and strategy influence revenue generation of life assurance firms: Desktop study |
| title | The extent to which pricing policy and strategy influence revenue generation of life assurance firms: Desktop study |
| title_full | The extent to which pricing policy and strategy influence revenue generation of life assurance firms: Desktop study |
| title_fullStr | The extent to which pricing policy and strategy influence revenue generation of life assurance firms: Desktop study |
| title_full_unstemmed | The extent to which pricing policy and strategy influence revenue generation of life assurance firms: Desktop study |
| title_short | The extent to which pricing policy and strategy influence revenue generation of life assurance firms: Desktop study |
| title_sort | extent to which pricing policy and strategy influence revenue generation of life assurance firms: desktop study |
| topic | Pricing policy Revenue generation Life assurance firms Pricing strategy |
| url | https://cris.library.msu.ac.zw//handle/11408/5377 |
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