Date of Conferral
Doctor of Business Administration (D.B.A.)
The inability to achieve profitability can negatively impact business operations. Small independent insurance agency owners who fail to maintain profitability are at a higher risk of failure. Grounded in the dynamic capabilities model, the purpose of this qualitative multiple case study was to explore effective marketing strategies leaders of small independent insurance agencies use to achieve and maintain profitability. The participants comprised 3 independent insurance agents in Fort Lauderdale, Florida, who effectively used marketing strategies to achieve and maintain profitability. Data were collected from semistructured interviews, company websites, and company documents. Yin’s 5-step thematic analysis, which included compiling, disassembling, interpreting data, and concluding the findings revealed 4 themes: targeted and adaptable competitive strategies, customer satisfaction, professionalism, and referrals. Key recommendations for insurance agents and business owners include using targeted and adaptable competitive strategies, providing customer satisfaction, practicing professionalism, and maximizing referrals as marketing strategies to achieve and maintain profitability. The implications for positive social change include the potential for owners of small independent insurance agencies to stimulate the local economies through the creation of jobs and improved customer service.
Brown, Xoriunstance T., "Effective Marketing Strategies of Profitable Small Businesses" (2020). Walden Dissertations and Doctoral Studies. 9065.