Topic Summary - Deposit, loan, financial card, and small...

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Product/Service Name: State Farm Insurance Independent Agent Product Service Overview: There are over 90 individual products available to agents (some products may not be available to all locations). The products rant from a wide variety of insurance and financial services to help customers both today and in the future. Target Market: Competitive Advantage: As a independent State Farm agent, the benefits come from a strong brand and a competitive product line. Also, agents benefit from local and national advertising and marketing campaigns. State Farm has been rated number 1 in car insurance since 1942, number 1 in homeowners insurance since 1964, and a leader in boat insurance. State Farm Bank is also rated among the top 1% of U.S. Banks in the following categories:
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Unformatted text preview: Deposit, loan, financial card, and small business lending products. Challenges: Obtaining start up costs, Start up scenario: As a State Farm independent contractor, the agent is responsible for all expenses, however State Farm does provide support to help manage the expenses. Upon selection and approval to become an agent, you begin a paid internship. The next step is to become a one year term Independent Contractor Agent where the agent received a signing bonus and a second bonus after 12 months. Agents have the option of renting furniture and equipment for a monthly rate to assist with start-up costs. Some equipment may come at little or no cost for the agent. Relocation benefits are available. Source:
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This note was uploaded on 03/26/2012 for the course GM600 GM600 taught by Professor Professor during the Fall '10 term at Keller Graduate School of Management.

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