FACTORS AFFECTING CUSTOMER PERCEPTION TOWARDS LIFE INSURANCE ADVERTISEMENTS
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Abstract
Insurance in India has been spurred by product innovation, streamlining of sales and distribution channels along with targeted advertising and marketing campaigns. Life insurance is a product that is typically purchased by individuals who need to provide protection and security to a dependent. Previously the insurance product were not been advertised in any media and the purchase decision was done only through agent and company. A number of foreign insurance companies have set up representative offices in India and have also tied up with various Life Insurance companies. The business environment is constantly changing and demand for adaptability among the organizations tends to increase. Therefore in present scenario advertisement is a not only confined to making new customers but also keeping the relations with the existing customers. Thus it has become essential to study the factors which affect customer perception towards life insurance advertisements relayed by private and public life insurance companies. For that an attempt has been made to find the various factors that affect the customer perception towards life insurance advertisements. This will help us to know what perception they carry about life insurance advertisements. Data was collected with the help of structured questionnaire from 100 respondents from Indore region. Data Reduction Tool i.e factor analysis is used to analyse the data. The findings of the study reflected that there are six factors i.e. relevance, entertainment, convinced, inattentive, indecisive, and identical that influence the customer perception towards life insurance advertisements.References
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About the Authors
Dr. Shefali Tiwari : Professor in Department of Business Management , Shri Raoji Bhai Gokalbhai Patel Gujaarati Professional Institute, Indore, shefali_tiwari17@rediffmail.com
Dr. Rakshita Puranik: Associate Professor in Department of Business Management, Indore Institute of Management and Research, Indore,rakshitapuranik@rediffmail.com
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