Abstract
After getting to know the issues that Tryg is undergoing, we came up with two ways of approaching the case. One of them is how they can retain the existing customers. The other one is how they can gain new ones and therefore, gain more profit.
There are some methods and theories we found relevant for solving this case. One of them is the leaky bucket theory to show how Tryg can retain its customers. Worth to be mentioned are also the business model (customer benefits bridge), the cause and effect diagram (what caused the problem, which are the effects) and the time base strategy.
According to relationship marketing, Tryg should have value-added exchange relationships with their customers. That would help to retain the existing customers because of objectives of both sides are met. In this way the company can shift from attracting new customers to keeping the current ones by providing with additional services. Customization is another angle that they could focus. Therefore, the customers would feel special and awarded.
