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Usain Bolt and Yohan Blake are established athletes in Jamaica. During the 2012 London Olympic...

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Accounting

Usain Bolt and Yohan Blake are established athletes in Jamaica. During the 2012 London Olympic Games they managed first and second place respectively in the 100m race for men. Bolt clocked in a new Olympic record of 9.63 seconds winning gold and Blake won silver with 0.12 seconds behind. This Olympic success triggered the pair to use the popularity gained from this quadrennial event to start a new business in insurance.

They successfully applied for a license to sell Personal Accident Insurance acting for a reputable Italian insurance company known as Progresso Assikura.

Initially they did manage to sell some policies to some friends and families in Jamaica but other than that, their business was a complete disappointment.

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In the light of the above and the shortcomings in marketing strategies that Bolt and Blake failed to address, discuss (with reasons) why their Agency failed to be successful notwithstanding the fame that they enjoy.

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