Case Analysis of Prepaid Legal
1 . Prepaid Legal is one of the earliest corporations in the United States to sell and to sell legal charge plans. The business adopts a cost leadership business strategy, rendering 5 standard title rewards (Preventive Legal Services, Auto Legal Safety, Trial Security, IRS Review Protection Solutions, and Preferred Member Discount) with a membership rights cost ranging from $10 to $25 each month. Moreover, Prepaid selects many market sectors, in which that develops specific plans (Commercial Driver Legal Plan, Legislation Officers Legal Plan, and Business Owners' Legal Solutions Plan) to compete. The key elements of PPD's business strategy include:
* Marketing method
5. Multi-level online strategy
Multi-level marketing encourages individuals to sell subscriptions and allows individual to recruit and develop their particular sales agencies. Furthermore, this marketing strategy promotes face-to-face conferences with possible purchasers and has the potential of getting a large number of product sales personnel in a short period of your energy. * Product and Satellite subscription revenue
After the combination with TPN, PPD discovered approximately twenty-five core items to be agreed to the company's product sales associates. Which has a leaner structure, PPD focuses on continuing and increasing the quantity of digital satellite television subscriptions offered, and thereby increases the worth of the TPN communication platform. * The corporation currently market segments Memberships on the closed panel basis, in respect to which the provider legal professionals are paid out a fixed fee on a per capita basis. Since such fixed fee repayments do not fluctuate based on the type and quantity of benefits used by the members, closed -panel memberships present significant positive aspects to the Company in managing claims risk. * Operation
* Electronic management information system
The program automates and simplifies daily work simply by evaluating gain claims, monitoring member make use of attorneys, determining amount of...