Does Advertising Help Improve Consumer Purchasing Behavior toward Insurance Products?

Abstract

The study is focused on the effect of advertising on consumer buying behavior of insurance products in Ghana. Exploratory analysis and descriptive statistics were used to analyze quantitative data. Data analysis was done using a total of 200 valid responses from actual and prospective buyers of insurance products. The associations between constructions and latent variables were investigated using structural equation modeling (SEM). The results of the study revealed that advertisement, consumer awareness, consumer perception, consumer perception have a significant effect on consumer buying behavior toward insurance products. This outcome is consistent with the body of research. We advise that in order for advertising to be effective, the target market must be thoroughly engaged in order to understand their purchasing habits and attitudes toward goods and services. Additionally, as consumers’ purchasing behavior is heavily influenced by their perception, more effort should be put into advertising that is perception-related.