Determining Resource Distribution for the Elements of Marketing Communication Mix Using TOPSIS Method

Abstract

Decisions about marketing communication focused on developing relations between firms and customers bear critical value in today’s competition environment. The aim of this study is to determine the priority of an international firm with a powerful position in Turkey’s insurance and individual retirement market while allocating resources for life insurance, non-life insurance and individual retirement products from marketing communication budget to elements of marketing communication. In line with this aim of the study, the data acquired through an interview with the marketing manager of the firm were analysed using TOPSIS Method. As a result of the study, the priority of the firm while allocating resources for life insurance, non-life insurance and individual retirement products from marketing communication budget to elements of marketing communication is determined to be advertisement, promotion, public relations and personal selling. This result supports the need for making the society in Turkey conscious about insurance. Insurance and retirement products should be promoted through advertisements and their importance should be emphasized. Also, premium productions should be supported through promotions and reputation of insurance companies should be raised through public relations efforts as well as developing relations with customers through personal selling. Keywords: Marketing communication, TOPSIS Method, Advertisement, Public relations, Personal selling, Promotion