Role of brand awareness, brand loyalty and advertisements towards consumer buying behaviour in insurance industry

Abstract

In the era of competition companies do face tough competitions in selling their products and services. The insurance industry too is not an exception to this. It is important that organizations do follow proper marketing strategies to grab the attention of the consumers. This paper has tried to research and reveal the best strategies that would help the insurance organizations to sell their insurance products to the consumers. Independent variables like Brand Awareness, Brand Loyalty and Advertisements. The dependent variable is Consumer Buying Behaviour was chosen for the study Data was collected from 100 insurance buying consumers on convenience basis. The results reveal, that brand awareness alone contribute towards insurance buying behavior but brand loyalty and advertisement contribution towards consumer buying behavior has not proved to be significant. Even though they do not contribute, these two variables are like pepper and salt required for pushing the insurance products.