Study On Focused Differentiation Strategy Of TP Quzhou Branch Of Life Insurance Co., Ltd.

The development direction and realization of objectives of a company aredetermined by its business strategies. As a new company, on the one hand, TP LifeInsurance Co., Ltd. Quzhou Branch (Quzhou Branch of TP Life) is faced with avariable external environment, fierce competition and threats from its competitors. Onthe other hand, it is not without defects in terms of recourses and capacities. Underthese circumstances, it is urgent to study and formulate appropriate competitivestrategies for sustainable development of the company. Based on the currentconditions of Quzhou Branch of TP Life and combining theory with practice, thepresent study aims to formulate a competitive strategy which is operable and suitablefor developmental needs of the company. Through this, it will offer supports to therealization of business objectives and sustainable development of the company.A comprehensive strategic management is composed of three phases: strategicanalysis, strategic choice and strategic implementation. This thesis takes QuzhouBranch of TP Life as the object of study. Firstly, it examines the macro environmentthe company situates in with the tools of PEST and the Five Forces Model. It tries tofind out the chances and threats the company faces. It also endeavors to make clearthe advantages and disadvantages in the internal environment of the company.Secondly, with the methods of SWOT analysis, IFE&EFE analysis and generalcompetition strategies model, the thesis makes a comparative analysis ofcompetitive strategies for Quzhou Branch of TP Life from the perspectives of costleading strategy, differentiation strategy and focused strategy. The analysis suggeststhat focused differentiation Strategy is an inevitable choice. Thirdly, in accordancewith customer needs, the thesis proposes that the differentiation strategy for QuzhouBranch of TP Life focuses on brand culture differentiation, human resourcesdifferentiation, training differentiation, products differentiation, marketing patternsdifferentiation and services differentiation. The thesis then elaborates on theimplementation of focused differentiation Strategy. Finally, in order to ensure aneffective implementation of the differentiation strategy, the thesis proposes a seriesof guarantee measures based on the7S Model, which include: cultivate corporate culture; optimize management patterns; reinforce the management of humanresources; improve the internal control system; perfect the information managementsystem and increase the application abilities.Formulation of appropriate competitive strategies helps a company stand firmlyin the competitive market and improve its profitability and benefits. Through theresearch of competitive strategies of Quzhou Branch of TP Life, the results of thisstudy not only have theoretical and practical meanings for the fast development ofindividual insurance, but also shed lights on the harmonious development of insuranceindustry in Quzhou.