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Business Paln

Sanlam is a South African financial services group that offers a wide range of investment, insurance, and financial planning products. Their main product is an investment plan. They strive to provide a consistent user experience across all digital channels and devices to make it easy for clients to access their financial investments. Sanlam aims to appeal to both existing and younger clients without alienating either group through their branding. They set competitive prices for their products based on factors like desired rates of return, market share, demand, and costs relative to competition in order to attract customers and maintain a strong market position.

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Amy-Leigh Arries
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73 views4 pages

Business Paln

Sanlam is a South African financial services group that offers a wide range of investment, insurance, and financial planning products. Their main product is an investment plan. They strive to provide a consistent user experience across all digital channels and devices to make it easy for clients to access their financial investments. Sanlam aims to appeal to both existing and younger clients without alienating either group through their branding. They set competitive prices for their products based on factors like desired rates of return, market share, demand, and costs relative to competition in order to attract customers and maintain a strong market position.

Uploaded by

Amy-Leigh Arries
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
Download as docx, pdf, or txt
Download as docx, pdf, or txt
You are on page 1/ 4

Product:

Consumer products:

The main product of Sanlam is their investment plan. Because Sanlam is a South African financial
services group.

1.Features

Sanlam’s features includes insurance, financial planning, retirement annuities, trusts, wills, short-term
insurance, asset management, risk management and capital market activities, investment and wealth.

2.Quality

Sanlam is a diversified financial services provider with an extensive product offering catering for all
market segments. Yet because it is a South African found investment plan they provide a wide range of
services and grown from local to international.

3.Design and Style

The design principles ensure that the user can navigate and interact with all channels using multiple
devices. Sanlam strive to deliver a consistent user experience across their digital properties ensure the
client with easy access to their financial investments. The simplicity and focus should promote ease of
use and user control over their experience through the creation of simple optimized user experiences.

The Role of Sanlam’s Photographic style is to set a “mood that define a tone that is down to
earth, warm, human and energetic”. It not to tell a story or demonstrate a product or services.
Yet used as a valuable supplement to our brand communication and message. Sanlam also
appeals to a very broad target clients and in attempt to capture their clients in a single image
would result in a staged images that would falsify their clients.

4.Branding

Their focus groups are viewed as engendering trust but also viewed as conservative. Sanlam also hopes
to speak to a younger audience and is meant to feel fresh and modern to attract and help their clients
with the best finance plan. Sanlam wants South Africans in a real and reassuring way going forward.
Sanlam also wants to appeal to a younger generation without alienating existing clients.
5.Packaging

Sanlam’s packaging plan has the following warranties and guarantees that they provide their
clients with:

http://www.marklives.com/2014/06/sanlam-announces-brand-refresh-updates-positioning/

https://www.sanlam.co.za/sanlamdigitalci/styles/Pages/photographic-styling.aspx

https://www.sanlam.co.za/onlinesolutions/Pages/default.aspx/lifeinsurance.html?gclid=Cj0
KCQjwrMHsBRCIARIsAFgSeI2uAY0hheMoCHzX8kE9MXRoHWN-
Q9tcO2ocrqy88iwAobz9UrydjsEaArdrEALw_wcB&gclsrc=aw.ds#
Price

Right Price- Pricing objective- Sanlam needs Capital i.e. because they also are an investment
company investment in the shape of various types of assets and working capital. When a client
invests capital in a business, he calculates the probable return on his investment. A certain rate
of return on investment is aimed. Then Sanlam fixed their price accordingly. Their price includes
the predetermined average return. This is a seller oriented policy. Sanlam ensures a certain
percentage of return their investment or on investments. For instance Sanlam will set a target
at 11 or 16% return on investment. Further this target may be for a long term or short term.
Sanlam may charge certain percentage over and above the price, but they purchased, which is
enough to meet operational costs and a desired profit. This objective of pricing is also known as
pricing for profit.

Market share: Sanlam’s target share on the market and the expected volume of sales are the
most important consideration in pricing the products. Sanlam has a good market share is better
indication of progress supplying one of the best investments plans in South Africa.

Demand- When Sanlam lower their price in comparison to their rival products, with a view to
capture the market, thus by reducing the price ,customers are not exploited, rather benefited.
Sanlam management can compare the present market share with the market share and can
know well whether the market share is increasing or decreasing. When the market share is
decreasing, low pricing policy can be adopted by large-scare manufacturers, who produce
goods needed daily by the consumers. So margin of profit of Sanlam will come down because of
low price, but the competitors are discouraged from entering the market.

Costs in relation to competition- The pricing objective of Sanlam may be meet or prevent
competition. While Competition is busy fixing the price, the price of similar products, Sanlam
will then consider how to beat their competition in this market. Sanlam has to look at the prices
of their rival and what they in general produce to chalk out proper price policy- so as to enable
to face the market competition.

In a time when Sanlam introduce a new product to the investment market, a low price policy is
likely to attract customers, and can establish a good market share. The low price policy
discourage the competitors in the market and ensure Sanlam with a strong lead on the market.
https://www.sanlam.com/investorrelations/ourstrategy/strategy2018/Pages/our-
strategy.aspx

https://www.sanlam.co.za/businessowners/business-tools/Pages/your-annual-business-
game-plan-for-success.aspx

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