Nepal Database & Nirikshan Bhusal https://www.nepaldatabase.com/rss/author/nirikshan-bhusal Nepal Database & Nirikshan Bhusal en Copyright 2022 Nepal Database & All Rights Reserved. 20 potential learnings from How to Win Friends and Influence People https://www.nepaldatabase.com/20-potential-learnings-from-how-to-win-friends-and-influence-people https://www.nepaldatabase.com/20-potential-learnings-from-how-to-win-friends-and-influence-people

"How to Win Friends and Influence People" is a self-help book written by Dale Carnegie that focuses on the importance of building and maintaining relationships in order to achieve success in both personal and professional life. Here are 20 potential learnings from the book:

  1. Don't criticize, condemn, or complain. Instead, try to understand the other person's perspective and show them empathy.
  2. Give honest and sincere appreciation. People are more likely to be receptive to your ideas if you show them appreciation first.
  3. Arouse in the other person an eager want. Instead of telling people what to do, try to get them to want to do it themselves.
  4. Become genuinely interested in other people. People are more likely to trust and respect you if you show a genuine interest in them.
  5. Smile. A simple smile can go a long way in building rapport and improving relationships.
  6. Remember that a person's name is, to that person, the sweetest and most important sound in any language. Use people's names when you speak to them.
  7. Be a good listener. Encourage others to talk about themselves, and really listen to what they have to say.
  8. Talk in terms of the other person's interests. People are more likely to be receptive to your ideas if you present them in a way that is relevant to their interests.
  9. Make the other person feel important - and do it sincerely. People are more likely to respond positively to you if they feel valued and appreciated.
  10. The only way to get the best of an argument is to avoid it. Avoid arguing and try to find a solution that everyone can agree on.
  11. Show respect for the other person's opinions. Never say "You're wrong."
  12. If you're wrong, admit it quickly and emphatically. It's better to admit you're wrong than to try to defend a position that isn't tenable.
  13. Begin in a friendly way. Start by building rapport and establishing a positive relationship.
  14. Get the other person saying "yes, yes" immediately. People are more likely to agree to your requests if you can get them to say "yes" at the beginning.
  15. Let the other person do a great deal of the talking. People are more likely to trust and respect you if they feel like you're genuinely interested in their ideas and opinions.
  16. Let the other person feel that the idea is his or hers. People are more likely to embrace an idea if they feel like it was their own.
  17. Try honestly to see things from the other person's point of view. Show empathy and try to understand where the other person is coming from.
  18. Be sympathetic with the other person's ideas and desires. Show understanding and support for the other person's goals.
  19. Appeal to the nobler motives. Try to appeal to people's higher principles and values when trying to influence them.
  20. Dramatize your ideas. Use storytelling and other techniques to make your ideas more memorable and compelling.

In conclusion, "How to Win Friends and Influence People" is a classic self-help book that provides practical advice for building relationships and influencing others. Some of the key learnings from the book include the importance of showing empathy, giving sincere appreciation, and focusing on the other person's interests. Other important strategies include avoiding criticism, arguing, and trying to make the other person feel important. By following these principles, you can improve your relationships and build more positive connections with others.

]]> Wed, 28 Dec 2022 20:30:41 +0545 Nirikshan Bhusal Summery of How to Win Friends and Influence People https://www.nepaldatabase.com/summery-of-how-to-win-friends-and-influence-people https://www.nepaldatabase.com/summery-of-how-to-win-friends-and-influence-people

"How to Win Friends and Influence People" is a self-help book written by Dale Carnegie that focuses on the importance of building and maintaining relationships in order to achieve success in both personal and professional life. The book offers practical advice on how to build strong relationships with others and how to effectively communicate and influence others in a positive way.

One of the key themes of the book is the importance of showing genuine interest in others and listening actively to what they have to say. Carnegie emphasizes the importance of building rapport with others by finding common ground and making them feel valued. He also advises that when trying to influence others, it is important to present your ideas in a way that aligns with their interests and values.

Carnegie emphasizes the importance of being sincere and authentic when interacting with others, and warns against using flattery or insincere praise, which can be counterproductive and damage relationships. He also advises being open and honest about your own mistakes and weaknesses, as this can help to build trust and credibility.

In order to build strong relationships, Carnegie advises being patient and understanding when dealing with difficult people, and being open to feedback and learning from your mistakes. He also emphasizes the importance of being reliable and following through on your commitments, and finding ways to help and support others.

Effective communication is another key component of building strong relationships, and Carnegie advises being open to new ideas and perspectives, even if they differ from your own. He also emphasizes the importance of being able to effectively manage your own emotions and behaviors, and treating others with respect and kindness.

In addition to these practical tips for building and maintaining relationships, Carnegie also emphasizes the importance of being open to new experiences and taking risks, showing gratitude and appreciation to others, and being flexible and adaptable in your interactions with others.

Overall, "How to Win Friends and Influence People" is a valuable resource for anyone looking to build strong relationships and effectively communicate and influence others in their personal and professional lives. The book offers practical and actionable advice on how to build rapport with others, manage difficult interactions, and effectively communicate and influence others in a positive way.

]]> Wed, 28 Dec 2022 16:37:32 +0545 Nirikshan Bhusal Summery of The Intelligent Investor https://www.nepaldatabase.com/summery-of-the-intelligent-investor https://www.nepaldatabase.com/summery-of-the-intelligent-investor

"The Intelligent Investor" by Benjamin Graham is a classic investment guide that aims to teach readers the principles of value investing, which is a long-term, disciplined approach to investing that focuses on buying undervalued securities. Graham argues that this approach is a more reliable way to achieve long-term investment success than trying to predict short-term market movements or following the advice of experts.

One of the key themes of the book is the importance of understanding the difference between speculation and investment. Graham defines speculation as trying to predict the direction of the market or the performance of individual securities, and investment as the purchase of securities based on their intrinsic value. He argues that speculation is inherently risky and that investors are better off focusing on value investing, which involves buying securities that are undervalued relative to their intrinsic value.

To implement a value investing strategy, Graham recommends several key principles. These include diversification, which involves spreading investments across a range of securities in order to reduce risk; margin of safety, which involves buying securities at a discount to their intrinsic value in order to provide a buffer against potential losses; and discipline, which involves sticking to a long-term investment plan and avoiding the temptation to make impulsive decisions based on short-term market movements.

Graham also emphasizes the importance of having a long-term perspective and avoiding the common mistake of trying to time the market. He argues that the key to investment success is to focus on building a diversified portfolio of undervalued securities and holding them for the long term.

In addition to providing practical advice on value investing, the book also addresses the psychological barriers that can prevent investors from achieving success. These barriers can include overconfidence, the fear of missing out, and the tendency to follow the crowd. Graham encourages investors to overcome these barriers and to maintain a disciplined, long-term approach to investing.

Overall, "The Intelligent Investor" is a comprehensive and thought-provoking guide to investing that provides readers with the tools and knowledge they need to implement a successful value investing strategy. It is a valuable resource for anyone looking to build a long-term, financially secure future through investing.

]]> Tue, 27 Dec 2022 17:48:46 +0545 Nirikshan Bhusal 50 Valuable Learnings from The Intelligent Investor https://www.nepaldatabase.com/50-valuable-learnings-from-the-intelligent-investor https://www.nepaldatabase.com/50-valuable-learnings-from-the-intelligent-investor

"The Intelligent Investor" is a classic book on investing written by Benjamin Graham that has been widely influential among investors and financial professionals. The book offers practical advice and guidance on how to make informed and intelligent investment decisions. Here are 50 lessons from "The Intelligent Investor" that can help you make better financial decisions:

  1. The primary goal of investing is to achieve satisfactory returns over the long term, not to maximize short-term gains or avoid temporary losses.
  2. It is important to diversify your investment portfolio to reduce risk.
  3. Investment decisions should be based on objective analysis and sound reasoning, rather than emotions or speculation.
  4. The market is often irrational and can be influenced by various factors, including investor psychology, economic conditions, and company performance.
  5. It is important to understand the risks and potential rewards associated with different types of investments.
  6. It is essential to have a well-defined investment strategy and to stick to it, rather than reacting to short-term market fluctuations.
  7. It is important to carefully research potential investments and to be aware of any potential biases or conflicts of interest that may affect your decisions.
  8. It is important to have a long-term perspective and to be patient with your investments, as short-term market movements can be unpredictable.
  9. It is essential to have a disciplined approach to investing and to avoid trying to time the market or chasing after hot stocks.
  10. It is important to regularly review and evaluate your investment portfolio to ensure that it is aligned with your long-term goals and risk tolerance.
  11. It is important to be aware of the fees and expenses associated with different investments, as they can have a significant impact on your returns.
  12. It is essential to have a well-diversified investment portfolio that includes a mix of different asset classes, such as stocks, bonds, and cash.
  13. It is important to consider the potential impact of inflation on your investments and to consider strategies to protect against it.
  14. It is important to be aware of the potential risks associated with investing in individual stocks and to consider the benefits of investing in index funds or other diversified portfolios.
  15. It is essential to be aware of the potential risks associated with investing in high-yield bonds or other fixed-income instruments, as they can be more vulnerable to credit risk or interest rate changes.
  16. It is important to consider the potential impact of taxes on your investment decisions and to consider strategies to minimize their impact.
  17. It is essential to have a plan for managing your investments during times of market volatility or economic uncertainty.
  18. It is important to have a well-defined process for making investment decisions and to be disciplined in following it.
  19. It is essential to be aware of the potential risks associated with investing in real estate and to carefully research potential properties before making a purchase.
  20. It is important to be aware of the potential risks associated with investing in commodities, such as oil, gold, or agricultural products, and to carefully consider the potential rewards and risks before making a decision.
  21. It is essential to be aware of the potential risks associated with investing in emerging markets, such as increased political or economic instability, and to carefully consider the potential rewards and risks before making a decision.
  22. It is important to be aware of the potential risks associated with investing in foreign currencies, such as exchange rate fluctuations, and to carefully consider the potential rewards and risks before making a decision.
  23. It is essential to be aware of the potential risks associated with investing in hedge funds or other alternative investments, such as increased complexity and lack of transparency, and to carefully consider the potential rewards and risks before making a decision.
  24. It is important to be aware of the potential risks associated with investing in start-up companies or small businesses, such as increased volatility and lack of financial information, and to carefully consider the potential rewards and risks before making a decision.
  25. It is essential to be aware of the potential risks associated with investing in real estate investment trusts (REITs) or other real estate-related investments, such as increased sensitivity to economic conditions and changes in property values, and to carefully consider the potential rewards and risks before making a decision.
  26. It is important to be aware of the potential risks associated with investing in mutual funds, such as the potential for high fees or poor performance, and to carefully research potential funds before making a decision.
  27. It is essential to be aware of the potential risks associated with investing in exchange-traded funds (ETFs), such as the potential for trading costs or liquidity issues, and to carefully research potential funds before making a decision.
  28. It is important to be aware of the potential risks associated with investing in annuities or other insurance products, such as the potential for high fees or lack of liquidity, and to carefully research potential products before making a decision.
  29. It is essential to be aware of the potential risks associated with investing in stocks, such as the potential for price fluctuations or company-specific risks, and to carefully research potential investments before making a decision.
  30. It is important to be aware of the potential risks associated with investing in bonds, such as the potential for credit risk or interest rate changes, and to carefully research potential investments before making a decision.
  31. It is essential to be aware of the potential risks associated with investing in cash or other short-term investments, such as the potential for lower returns or inflation risk, and to carefully consider the potential rewards and risks before making a decision.
  32. It is important to be aware of the potential risks associated with investing in collectibles, such as the potential for price fluctuations or lack of liquidity, and to carefully research potential investments before making a decision.
  33. It is essential to be aware of the potential risks associated with investing in commodities, such as the potential for price fluctuations or supply-demand imbalances, and to carefully research potential investments before making a decision.
  34. It is important to be aware of the potential risks associated with investing in real estate, such as the potential for changes in property values or economic conditions, and to carefully research potential investments before making a decision.
  35. It is essential to be aware of the potential risks associated with investing in alternative investments, such as hedge funds or private equity, and to carefully research potential investments before making a decision.
  36. It is important to be aware of the potential risks associated with investing in foreign currencies, such as exchange rate fluctuations or economic conditions in foreign countries, and to carefully research potential investments before making a decision.
  37. It is essential to be aware of the potential risks associated with investing in emerging markets, such as increased political or economic instability, and to carefully research potential investments before making a decision.
  38. It is important to be aware of the potential risks associated with investing in start-up companies or small businesses, such as the potential for financial instability or lack of information, and to carefully research potential investments before making a decision.
  39. It is essential to be aware of the potential risks associated with investing in real estate investment trusts (REITs) or other real estate-related investments, such as changes in property values or economic conditions, and to carefully research potential investments before making a decision.
  40. It is important to be aware of the potential risks associated with investing in mutual funds, such as the potential for high fees or poor performance, and to carefully research potential funds before making a decision.
  41. It is essential to be aware of the potential risks associated with investing in exchange-traded funds (ETFs), such as the potential for trading costs or liquidity issues, and to carefully research potential funds before making a decision.
  42. It is important to be aware of the potential risks associated with investing in annuities or other insurance products, such as the potential for high fees or lack of liquidity, and to carefully research potential products before making a decision.
  43. It is essential to be aware of the potential risks associated with investing in stocks, such as the potential for price fluctuations or company-specific risks, and to carefully research potential investments before making a decision.
  44. It is important to be aware of the potential risks associated with investing in bonds, such as the potential for credit risk or interest rate changes, and to carefully research potential investments before making a decision.
  45. It is essential to be aware of the potential risks associated with investing in cash or other short-term investments, such as the potential for lower returns or inflation risk, and to carefully consider the potential rewards and risks before making a decision.
  46. It is important to be aware of the potential risks associated with investing in collectibles, such as the potential for price fluctuations or lack of liquidity, and to carefully research potential investments before making a decision.
  47. It is essential to be aware of the potential risks associated with investing in commodities, such as the potential for price fluctuations or supply-demand imbalances, and to carefully research potential investments before making a decision.
  48. It is important to be aware of the potential risks associated with investing in real estate, such as the potential for changes in property values or economic conditions, and to carefully research potential investments before making a decision.
  49. It is essential to be aware of the potential risks associated with investing in alternative investments, such as hedge funds or private equity, and to carefully research potential investments before making a decision.
  50. It is important to understand the potential impact of taxes on your investment decisions and to consider strategies to minimize their impact, such as using tax-advantaged accounts or investing in tax-efficient assets.

I hope this list of lessons from "The Intelligent Investor" helps you make better financial decisions and achieve your investment goals. Remember to always do thorough research and due diligence before making any investment decisions, and to be mindful of the risks and rewards associated with different investment strategies. It's also important to have a clear understanding of your financial goals and risk tolerance, and to be disciplined and consistent in your investment approach. Finally, be open to learning and continually improving your investment knowledge in order to make informed and intelligent decisions.

]]> Tue, 27 Dec 2022 17:39:54 +0545 Nirikshan Bhusal Everything You Need to Know About Marketing for a Tourism Destination https://www.nepaldatabase.com/everything-you-need-to-know-about-marketing-for-a-tourism-destination https://www.nepaldatabase.com/everything-you-need-to-know-about-marketing-for-a-tourism-destination Marketing is the process of selling products/services and finding customers. It is widely used and has many definitions. Good marketing starts with proper planning, where you first identify the current situation and then address the goals. After implementing plans, good management also looks for results and feedback. Marketing tourism in a destination or country is not like marketing a company's products. A good tourism marketing concept should always prioritize sustainable tourism, such as preserving diversity, supporting the local economy, training staff and taking care of waste management and proper use of resources.

Importance of marketing for a tourism destination

The concept of marketing is now better and widely understood as compared to the early stages. When it comes to travel and tourism, many organizations are adopting marketing strategies that have a positive impact on results. Systematic strategies should be used according to market needs and expectations. Organizations such as hotels, travel agencies, airlines and other organizations in the tourism industry today face a lot of competition.

Marketing is of great economic importance because it generates more income, creates employment opportunities, brings in foreign exchange earnings and influences economic development. Only effective tourism marketing strategies, tools and technologies help find potential clients and clients find travel agencies.

fig. Core Marketing Concept

The concept of marketing clarifies the needs, wants and requirements of each consumer for a product and through marketing the product is offered. If customers are satisfied with what they get in exchange for their money, they are satisfied. Therefore, the market is not only buying and selling of products, in a broader context it is the exchange of a product with some transactions and relationship marketing.

Destination based marketing strategies

The world is a global village today, with access to information technology, people can gain a lot of knowledge from the internet. People are more educated and are also discovering new tourist destinations, so there is more competition in the expanding market. Well-designed marketing strategies help a destination generate more jobs and more income. In destination marketing, external and internal environment such as organizational structure, government policy, branding, image, target markets and marketing communication are important factors.

DMO (Destination Marketing Organizations) managers at a group meeting in the USA cited as challenges: adapting to technological changes, destination management, new level of competition and finding new measures of success. It is also important to have knowledge of current research findings, market best practices, case studies and conference reports.

Promotion

Promoting products means making it easier for customers to find you. It is very difficult for a company to exist in global markets without proper promotion. Although there can be many ways to promote, digital marketing expands this concept. There are many media online and on the internet that are not expensive.

In the traditional marketing method, promotion is done through advertising on radio, television, newspapers and magazines. Emails, street billboards, and program sponsorships are also traditional methods of promotion. Digital promotion in inbound marketing is a fast way to spread the word, especially in social networks and search engine optimization.

SWOT-analysis

SWOT analysis is a necessary systematic step in identifying problems and solving problems related to the current market situation. When preparing a new marketing plan, marketers must always be aware of socio-cultural, economic, political, technological, environmental and legal factors. Many internal and external marketing forces influence the current shape of the market. The purpose of a SWOT analysis for an organization is to identify the strengths and weaknesses of the business and the opportunities that the business environment presents and any threats that the company faces. This helps to take the next steps.

Before creating marketing strategies, the SWOT analysis method helps to find the organization's strengths and weaknesses, opportunities and threats. This level of analysis allows the organization to determine whether factors are present that will facilitate the achievement of specific goals (due to an existing strength or opportunity) or whether there are obstacles that must be overcome before the desired outcome can be achieved (due to a weakness or threats).

In tourism, they need to be viewed from the perspective of the client, not the organization. Positioning and brand image are very important factors for both clients and the company. A strong and positive image is always a key force for the target market.

Marketing tools

Increasing the level of digital marketing is important these days because people search for most things on the internet. Various search engines, mobile phone design, email marketing, photo and video marketing are so extensive digital marketing and web application development also helps to break down e-marketing strategies.

Branding

Branding makes a product unique and helps identify it in the market. There are so many similar products in the market today from different brands. As branding is a marketing process, it helps create a product image and differentiate itself from competitors. The brand also attracts customers in a significant way. Destination branding is also an example of this and popular destinations such as the Great Wall of China, Niagara Falls have names that are known around the world.

Social media

Social media are very important tools for marketing tourist destinations. Old strategies must be replaced by new technologies. Social media are fast marketing tools because nowadays many people around the world are using social media like Facebook, Instagram, YouTube, LinkedIn, TripAdvisor, Google+, Twitter and many more.

]]> Tue, 29 Nov 2022 20:36:35 +0545 Nirikshan Bhusal Everything you need to know about Income Tax https://www.nepaldatabase.com/everything-you-need-to-know-about-income-tax https://www.nepaldatabase.com/everything-you-need-to-know-about-income-tax Income means an inflow of cash to a person or business, which includes income from employment, business, and investments. Taxes are the citizens' contribution to the support of the nation. Income tax is a direct tax on the income of natural persons and legal entities. Income tax refers to the tax levied on a person's income and profits for a certain period, especially one year. Income tax is levied on a person's or company's payment after deducting eligible expenses. Accounting profits may differ from taxable profits. When calculating taxable income, income is generally added up minus expenses and losses that are deductible under the provisions of the Income Tax Act. Non-taxable income and current expenses are then also deducted to obtain taxable income. After determining the limit for exemption under the law, income tax is assessed on this calculated income.

Income tax imposed on individuals (or family units) and corporations. Personal income tax is calculated on the basis of received income. It is usually classified as a direct tax because the burden is likely to be on the individuals who pay it. Corporate income tax is levied on net profit, which is calculated as the excess of income over allowable expenses.

Classification of Tax

Taxes are a crucial source of revenue generation and mobilization. In the country, all people have defined taxation in different ways. In this regard, it would be better to adopt the definition given by Prof. Seligman. In his words, "Taxes are principal fiscal policy instruments, and essential government policy tools have a crucial role in increasing the rate of capital formation." Taxes play a crucial role in increasing the rate of capital formation. A high percentage of economic growth can thus be achieved. Taxation can also play multiple roles.

On the one hand, taxation is used to make the maximum amount of resources available to the public sector. Taxation, on the other hand, is used to encourage healthy private-sector investment and to prevent resource waste caused by speculative and unproductive investment, as well as lavish and luxurious consumption.Thus, taxes in developing countries serve as a means of raising revenue. The government can therefore use taxation as a useful tool to provide incentives for proper growth in savings, investment and gross domestic product. However, in Nepal, tax policy is mostly driven by revenue generation. Depending on the payment methods, taxes are divided into two important categories: direct taxes and indirect taxes.

Direct tax is collected directly by the government from the person who bears the tax burden. The incident and the impact are both on the same person. In other words, the same person pays and bears the tax burden. The following taxes remain under direct taxation: income tax, wealth tax, interest tax, capital gains tax, vehicle tax, gift tax, and expenditure tax.

An indirect tax is charged to one person but partially or fully paid by another. In other words, the person who pays and bears the tax is different. The following tariffs remain under indirect taxation: value added tax (VAT), excise duty, sales tax, import and export duties, entertainment tax, and hotel tax.

]]> Thu, 10 Nov 2022 11:55:39 +0545 Nirikshan Bhusal The Business Model of Online Insurance https://www.nepaldatabase.com/the-business-model-of-online-insurance https://www.nepaldatabase.com/the-business-model-of-online-insurance Online insurance is the process of transmitting, evaluating, tracking, and reporting insurance information over a network over the Internet. The rapid globalization of the Internet has led to a huge demand for its use to provide efficient and effective services to people. Therefore, internet insurance is also considered as a significant advancement in the insurance industry, which aims to make it more customer friendly. Many multinational companies such as Global Insurance, American Life Insurance, Zurich International Life and Clements Worldwide Insurance have been very successful in insuring property and liability risks from different corners of the world through the Internet. Online insurance has a big impact on modern business because it can manage risks around the world.

Different insurance companies have different methods and systems to do online insurance over the internet. It basically contains a database where customers submit their information about various aspects of insurance. William R. Hartigan, who was the inventor of a ``method and system for providing online insurance information,'' invented a database containing individual data fields storing insurance information, including various limits and features of coverage for insurance policies. In addition, the insured can also access and view insurance information using a combination of access and password.

However, evolving technology allows insurance companies to constantly modify their websites to make them more customer-friendly. Business Models for Insurance E-commerce can be categorized according to the classic build/buy/borrow business marketing strategy model.

Company website (Built)

  • Contract/referral generator
  • Sales initiation
  • Real online sales
  • Online sales of specific products

Supermarket/mall (Buy)

  • Carrier leads
  • Agent referral
  • Online agency

Based on the relationship (Borrow)

  • Portals, banners
  • Event triggered links

 

Business Model

Cope with the changing market environment is a challenging job for the insurance industry. The distribution of insurance products via the Internet has brought a new innovation for many insurance companies. Various models are being considered to provide wider access to the online insurance product in an efficient manner. Some of the emerging business models for online insurance are described below:

 

i) Intermediary Market Place Model

- This model creates a strong marketplace that is connected to the best available seller and potential buyers. This is based on the Business to Customer (B2C) marketing line, where the buyer has the opportunity to choose the best product at the right price. This model drives customers to know their needs and increase their knowledge in order to find out what is best for them.

This insurance business model has created a powerful online insurance marketplace that is connected to its buyers and sellers. These companies play a key role in connecting these services and providing them to the right users. Companies like InsWeb (www.insweb.com) are perfect examples of this model where this company has built a marketplace where the customer can know and learn their needs about the product that is right for them. On the other hand, it gives the seller an opportunity to focus on their target customer and create a service accordingly. Insweb provides a great platform for both suppliers and buyers as it directly connects its customers with insurance companies.

There are several benefits to both parties involved in this brokerage market. In this model, the customer can choose from a variety of options, and the seller get constant feedback about the market demand and can shape themself accordingly.

 

ii) Marketing support only

- This model is a traditional approach where the customer can communicate directly with the company concerned. Since insurers can directly use the host company's website and access various services and products online, they feel a sense of security in knowing information directly from suppliers, rather than the earlier model through an intermediary.

Fig: Marketing support only

Allianz (www.allianz.com), a leading non-life insurer worldwide, adopts this model and gives its customers a good opportunity to interact with them through their website. Customers can get the necessary information and services about their product online. In addition, the customer can contact the company's staff through e-mails and telephone for any questions and information.

 

iii) Eyeball attractor

- Eyeball attractor is a modern technological model in the online insurance sector. It is based on a Business to Customer (B2C) line marketing business approach same like marketplace model. In this model, the host organization has various products on its website that are associated with various vendors. So the mechanism of this model depends on whichever advertisements or products get more ‘click’; they are referred to supplier who is providing that services.

C=Consumer

S = Supplier

Fig: Eyeball attractor model(Arora 2003)

Insurance Benefits (insurancebenefits.com) is based on this model where customers click on the best possible service or insurance products. The company gets benefits from the number of referrals made as a result of customer interventions on a particular provider.

 

iv) Reverse auction

- This model is unique in its own nature of business, where buyers take advantage of the choice of suppliers who participate in the offer. In other words, buyers make an offer and customers get the opportunity to choose the best possible buyers in the online insurance industries. It's a different kind of model and it's called a reverse auction because the trading is reversed, which has a huge effect on consumer demand.

An insurance exchange (www.theinsuranceexchange.com) is based on this model, where a customer fills in his request and various online insurance companies associated with this company bid on that request. Finally, the customer is presented with various proposals from different offering companies with alternatives and the customers have the right to choose which one is best for them.

]]> Sat, 10 Sep 2022 22:38:50 +0545 Nirikshan Bhusal