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Marketing Research of Aon Corporation

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Netra Shetty
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Marketing Research of Aon Corporation - March 31st, 2011

Aon Corporation (NYSE: AON) is a provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. It is based in the Aon Center in Chicago Loop Illinois, United States.[3] In July 2007, Aon Corp. was ranked as the world's second largest insurance broker.[4]
Aon was created in 1982, when the Ryan Insurance Group (founded by Pat Ryan in the 1960s) merged with the Combined Insurance Company of America (founded by W. Clement Stone in 1919). In 1987, that company was introduced to Wall Street as Aon, a Gaelic word meaning “oneness”. Combined Insurance was sold to ACE Limited in April 2008.
On August 22, 2008, Aon announced that it had acquired London-based Benfield Group. The acquiring price was US$1.75 billion or £935 million, with US$170 million of debt.[5] Today, the company is best known internationally as the principal sponsor of English football giant, Manchester United.[6][7]
On July 12, 2010, Aon announced that it has agreed to buy Lincolnshire, IL based Hewitt Associates for $4.9 billion in cash and stock.[8]

The recommendations for ABC food retailer’s are as follows: The first thing that ABC food retailer should do is to continue to improve the services they have by doing so they can have advantage against competitors. The company can also find ways to have competitive prices without having some financial problems. By doing this more clients can be attracted to avail the company’s service. Moreover the company should provide additional knowledge to their employees regarding how to deal with clients. Customer service involves the relationship between the employees and the clients. A healthy relationship between the two helps in giving the company success. The company should focus on the strategic alternative of further improvement to the technologies they use. The advancement in technology will not only make the company competitive, it will make the clients avail the company’s services more often. The different recommendations aim to assist the company in improving its image in the local and the international market. It also helps the company in preparing for the entry in the new market. In reaching the goal of collecting the marketing information required the company can do various things and it includes conducting a simple survey on the buying behavior of clients on the US Market. By doing this the company can have a first hand look of how clients react to certain products. Another thing the company can do is researching and analyzing about the economic situation of the US retailing industry; then the company can research about the US laws on entry of new businesses. The company should then research and compare the company’s product with it’s US and international competitors; and lastly research the rules of competition in the US market.



In reaching the goal of collecting the marketing entry selection criteria, the company can do various things and it includes: Having an analysis of all the available suppliers and determining which one has a good record; analyzing the track record of each supplier and determining which one can satisfy the company’s ideals; scouting possible areas of location for the business and determining which is the best one for the company; comparing the company’s price with the competitors price and checking whether the company can counter the rival’s prices; engaging in trainings and seminars that will enhance the capabilities of the personnel in the new market; providing informative materials to the personnel so that they will have a background on the company. By doing these things the company can know what actions they have to take once they start entering the US market.

8. Conclusion

To achieve the goals of entering the US market, ABC food retailer of Hong Kong should strengthen its competitive advantage of being able to offer low prices for their products. The company should see if their prices can compete with the prices by competitors in th8e US market. ABC food retailer of Hong Kong has the skill and capacity to offer food products that the clients will be addicted to and they will find it affordable. This skill can be used by ABC food retailer of Hong Kong to gather new clients in the new market. ABC food retailer of Hong Kong has a good knowledge of how other retailers work. This can be used in the US market to scout for problems they might face with the new competitors. In the company’s goal of internationalization and entry into the new market it needs to make use of selection criteria for control, commitment and resources. The selection criteria include: the suppliers of the resources should be reputable; ABC food retailer needs to see that they will have a good relationship with the suppliers; the place of selling should be in an acceptable and marketable location; the price of the competitors can be countered by the company’s prices; the personnel available should have proper training; the perspective personnel should have an idea about the company and the things they do. The marketing information needed includes the buying behavior of the clients, the economic situation in the industry, the US laws on entry of a foreign business, how ABC food retailer’s product would succeed and the rules of competition in that market. This marketing information will be useful in assisting the company in its entry in the new market.
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Re: Marketing Research of Aon Corporation
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James Cord
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Re: Marketing Research of Aon Corporation - March 3rd, 2016

Quote:
Originally Posted by netrashetty View Post
Aon Corporation (NYSE: AON) is a provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. It is based in the Aon Center in Chicago Loop Illinois, United States.[3] In July 2007, Aon Corp. was ranked as the world's second largest insurance broker.[4]
Aon was created in 1982, when the Ryan Insurance Group (founded by Pat Ryan in the 1960s) merged with the Combined Insurance Company of America (founded by W. Clement Stone in 1919). In 1987, that company was introduced to Wall Street as Aon, a Gaelic word meaning “oneness”. Combined Insurance was sold to ACE Limited in April 2008.
On August 22, 2008, Aon announced that it had acquired London-based Benfield Group. The acquiring price was US$1.75 billion or £935 million, with US$170 million of debt.[5] Today, the company is best known internationally as the principal sponsor of English football giant, Manchester United.[6][7]
On July 12, 2010, Aon announced that it has agreed to buy Lincolnshire, IL based Hewitt Associates for $4.9 billion in cash and stock.[8]

The recommendations for ABC food retailer’s are as follows: The first thing that ABC food retailer should do is to continue to improve the services they have by doing so they can have advantage against competitors. The company can also find ways to have competitive prices without having some financial problems. By doing this more clients can be attracted to avail the company’s service. Moreover the company should provide additional knowledge to their employees regarding how to deal with clients. Customer service involves the relationship between the employees and the clients. A healthy relationship between the two helps in giving the company success. The company should focus on the strategic alternative of further improvement to the technologies they use. The advancement in technology will not only make the company competitive, it will make the clients avail the company’s services more often. The different recommendations aim to assist the company in improving its image in the local and the international market. It also helps the company in preparing for the entry in the new market. In reaching the goal of collecting the marketing information required the company can do various things and it includes conducting a simple survey on the buying behavior of clients on the US Market. By doing this the company can have a first hand look of how clients react to certain products. Another thing the company can do is researching and analyzing about the economic situation of the US retailing industry; then the company can research about the US laws on entry of new businesses. The company should then research and compare the company’s product with it’s US and international competitors; and lastly research the rules of competition in the US market.



In reaching the goal of collecting the marketing entry selection criteria, the company can do various things and it includes: Having an analysis of all the available suppliers and determining which one has a good record; analyzing the track record of each supplier and determining which one can satisfy the company’s ideals; scouting possible areas of location for the business and determining which is the best one for the company; comparing the company’s price with the competitors price and checking whether the company can counter the rival’s prices; engaging in trainings and seminars that will enhance the capabilities of the personnel in the new market; providing informative materials to the personnel so that they will have a background on the company. By doing these things the company can know what actions they have to take once they start entering the US market.

8. Conclusion

To achieve the goals of entering the US market, ABC food retailer of Hong Kong should strengthen its competitive advantage of being able to offer low prices for their products. The company should see if their prices can compete with the prices by competitors in th8e US market. ABC food retailer of Hong Kong has the skill and capacity to offer food products that the clients will be addicted to and they will find it affordable. This skill can be used by ABC food retailer of Hong Kong to gather new clients in the new market. ABC food retailer of Hong Kong has a good knowledge of how other retailers work. This can be used in the US market to scout for problems they might face with the new competitors. In the company’s goal of internationalization and entry into the new market it needs to make use of selection criteria for control, commitment and resources. The selection criteria include: the suppliers of the resources should be reputable; ABC food retailer needs to see that they will have a good relationship with the suppliers; the place of selling should be in an acceptable and marketable location; the price of the competitors can be countered by the company’s prices; the personnel available should have proper training; the perspective personnel should have an idea about the company and the things they do. The marketing information needed includes the buying behavior of the clients, the economic situation in the industry, the US laws on entry of a foreign business, how ABC food retailer’s product would succeed and the rules of competition in that market. This marketing information will be useful in assisting the company in its entry in the new market.
Hey Netra,

I am also uploading a document which will give more detailed explanation on the Global Employee Engagement - Aon.
Attached Files
File Type: pdf Global Employee Engagement - Aon.pdf (729.3 KB, 0 views)
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