NY Life Marketing Plan

NY LIFE
Concept Development
Assignment

Team 15

Summary

1. Does NYL want to enter into the DC market?
Definitely yes! DCs are the fastest growing type of pension fund; NYL can’t afford to miss this opportunity!

2. What type of service(s) should NYL provide?
When entering an existing market, one has to be able to compete with the existing competition; in this case the major competitors are offering total service packages. Also, according to several surveys, an important concern, for both sponsors and participants, in selecting pension plan providers is good record keeping/administrative services. These factors necessitate NYL offer a full service DC plan. Here are some specific suggestions for services NYL should offer:
· In-house record keeping with possible strategic alliances with major payroll processing service provider(s) to obtain payroll/contribution information automatically with no extra effort by the employer.
· Monthly, quarterly, semi-...