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Marketing Management Individual Project: Discover Marketing
Management
Savannah Schaefer
School of Business, Liberty University
Author Note
Savannah Schaefer
I have no known conflict of interest to disclose.
Correspondence concerning this article should be addressed to Savannah Schaefer
Email: sschaefer@liberty.edu
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Marketing Management Individual Project: Discover Marketing Management
Q1. Provide a Description of the Product/Service and a Brief History of the Firm
Liberty Mutual Insurance was established in 1912, originally providing workers
compensation insurance. Over the past 100 years, Liberty Mutual has expanded to over thirty
countries providing property, auto, causality, commercial, risk, and many other forms of
insurance to customers across the globe (Our History). The corporation grew quickly as they sold
their first auto policy in 1918. Liberty Mutual has done far more than just sell and provide
insurance throughout their history including pioneering escalator safety in 1946, created a
“safety car” with Cornell in 1957, and even help create the first battery-powered prosthetic
elbow in 1967 (Our History). In 1973, Liberty Mutual expanded outside of Northern America
and established their first operations in the United Kingdom, officially becoming a multinational
corporation. Since 1912, Liberty Mutual Insurance has continued to expand and is now the sixth
largest global property and causality insurer as of 2020 (Our History).
Q2. Explain Your Current or Possible Global Marketing Efforts
In 2014, Liberty Mutual Insurance Group unveiled a new advertising campaign to help
current and prospective customers “see car insurance in a whole new light.” In this campaign,
everyday Americans talk about everyday insurance problems that Liberty Mutual offering clear
solutions to these issues (New Advertising and Brand Campaign, 2014). Within these 30 and 60
second commercial, the protagonist of the commercial speaks directly to the viewers in front of
the Statue of Liberty describing annoyances or issues with their personal insurance. The
commercial then explains how Liberty Mutual is able to provide clear solutions with their
different products including Accident Forgiveness, Lifetime Repair Guarantee, and Better Car
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Replacement (New Advertising and Brand Campaign, 2014). These ads can be seen across an
array of platforms including Facebook, YouTube, Twitter, and cable networks.
Q3. Explain the Organization’s Missions. Provide its Mission Statement or Create One if
Necessary
Over the past century, Liberty Mutual Insurance has been known for their quality of
services and fairly priced insurance products. According to their website, “Liberty Mutual [has]
committed ourselves to providing broad, useful and competitively-priced insurance products and
services to meet our customers’ ever-changing needs” (About Us). Over the years, Liberty
Mutual has stayed true to this mission as they are the third largest property and causality insurer
in the US according to the National Association of Insurance Commissioners. Along with this
highly esteemed recognition, Liberty Mutual has also been highly awarded by many
organizations including being in the top 100 companies in PEOPLE Magazine’s Companies That
Care, third Best Workplaces for women in the UK, and recognized by Forbes as a 2021 Best
Employer for New Grads (Awards and Recognition).
Q4. Explain Your Competitive Strategy
Liberty Mutual Insurance Group leans in heavily on their customizable insurance
offerings so you “only pay for what you need.” Liberty Mutual works to be different than their
competitors as they advertise selling only what the customer needs not simply every additional
coverage that is not needed. Liberty Mutual also has many unique services they offer to their
clients that is appealing compared to some other large insurance companies. These services
include Accident Forgiveness, Lifetime Repair Guarantee, and Better Car Replacement. With
these programs available for their customers, Liberty Mutual has an edge on competition as they
are offering a program or serve that other competitors do not have. This difference allows Liberty
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Mutual to market themselves as a caring company that provides their consumers with the
products and services they want or need and nothing additional or “gimmicky.”
Q5. Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis for the
Organization
Since Liberty Mutual Insurance Group is one of the leading companies in the insurance
industry, they have many strengths that allow them to strive in the marketplace. Liberty Mutual
does very well in the areas of distribution networks, product innovation, and has been able to
expand by acquiring several technological companies to help support a reliable supply chain.
While LMG does well at acquiring other companies, one of its strongest weaknesses is being
able to integrate with firms that have different work cultures (Fern Fort University). Liberty
Mutual also tends to struggle with expanding into other sectors of business and seem to be
limited to success inside of their core business areas. As the market continues to change, this
gives way to many opportunities for corporations such as Liberty Mutual. Many opportunities
may come from using the online channels to bring in new customers as well as changes in
customer behavior can open new markets to diversity products (Fern Fort University). The final
area of the SWOT analysis is that of threats. Some threats that many come to light for Liberty
Mutual is changes in local distributors where people would prefer to shop locally than with a
large corporation. There is also a shortage of skilled workers in certain global markets which
may become a threat to the profits of Liberty Mutual. Coupled with this is the rising pay level to
a minimum of $15 and increase in production through some countries. This increase in pay will
cause a decrease in profits for many corporations and Liberty Mutual would be a corporation that
may be affect by this change (Fern Fort University).
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References
About Us. LMG. (n.d.) Retrieved September 9, 2021 from https://www.libertymutual.com/about-
us
Awards and Recognition. LMG. (n.d.) Retrieved September 9, 20201, from
https://www.libertymutualgroup.com/index.php/about-lm/corporate-information/awards-
recognition
Fern Fort University. (n.d.). Liberty mutual Insurance Group SWOT analysis Matrix (strengths,
Weakness, Opportunities, Threats). Fern Fort University. Retrieved September 9, 2021,
from http://fernfortuniversity.com/term-papers/swot/1433/73-liberty-mutual-insurance-
group.php.
Liberty Mutual Insurance Unveils New Advertising and Brand Campaign to See Car Insurance
in a Whole New Light. LMG. (2014). Retrieved September 11, 2021, from
https://www.libertymutualgroup.com/about-lm/news/articles/liberty-mutual-insurance-
unveils-new-advertising-and-brand-campaign-see-car-insurance-whole-new-light.
Our History. LMG. (n.d.). Retrieved September 9, 2021, from
https://www.libertymutualgroup.com/about-lm/corporate-information/our-history.
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