The relationship between the company's advertising, customers' trust and feeling towards the brand on the amount of life insurance sales

Dissertation for Master's degree (M.A)

Treatment: "Insurance"

Abstract:

Life insurance is one of the most important and strategic products of insurance companies in the world. In the world, the percentage of life insurance sales is much higher than other insurance products, but despite its great importance, the sale of this product has its own complications. Insurance companies and representatives who are trying to sell life insurance must establish an effective and reliable relationship with their customers, a person who is going to buy life insurance must trust the insurance company and its brand for decades, have a good feeling about this company and its brand. In this regard, advertising can be used as one of the most important tools used by companies so that they can promote and improve the trust and pleasant feeling of their customers towards their companies.

Regarding the importance of the subject, the present research has been conducted with the aim of identifying the relationship between the variables of companies' advertising, trust and feeling towards the brand with the amount of life insurance sales. This research is one of the types of applied research in terms of the research objective, and in terms of the data collection method, it is one of the types of descriptive research of the correlation type. The statistical population includes representatives of three insurance companies of Iran, Alborz and Asia in Tehran city, and cluster random sampling method was used to select a representative sample of the population. The required data collection tool was a researcher-made questionnaire, whose validity and reliability were also evaluated at a satisfactory level. To analyze the data, in addition to the central and dispersion indices and data frequency chart, Pearson's moment correlation tests and stepwise regression tests were used.

Based on the results of Pearson's correlation tests, the research findings indicate that the variables of companies' advertising, trust in the brand, and the variable of feeling towards the brand have a significant relationship with the amount of life insurance sales, and based on the stepwise regression of the two variables of trust in the brand and feeling towards the brand, they could not. Explain and justify 0.73 of the variable variance of life insurance sales.

Keywords: advertising, brand trust, brand feeling, life insurance, insurance companies.

Introduction:

Many of the successful manufacturing and service industries in the world consider providing efficient services that meet customer needs as a source of competitive advantage. The necessity of effective exchange between customers and domestic suppliers has been widely discussed in management writings, and experts agree that better service to domestic customers leads to better service to foreign customers.

There is no doubt in accepting this principle that the survival of production and service organizations depends on maintaining and increasing their customers. For this purpose, it is necessary for every organization to think about the important and effective factors of customer satisfaction and by describing and predicting and controlling these variables. able to manage customer satisfaction and lead it to improvement. The brand name plays an essential role in service companies because a strong brand name [1] increases the trust of customers in connection with the purchase of intangible products. A strong brand name enables customers to better visualize and understand intangible products. In connection with the services that are difficult to compare and evaluate in connection with the purchase of the service, the brand name plays an important role.

Trust, feeling and loyalty to the brand name has many benefits for companies, because it reduces the company's vulnerability to competitive activities, reduces company costs, increases financial margins and increases effective marketing communications (Kim et al., 2008) and creates and maintains consumer trust, feeling and loyalty to the brand at the heart of companies' marketing programs, especially in There are competitive markets (Sweeney & Swait, 2008). The word brand [2] has several meanings. A brand is not only a real product but also a valuable intangible asset. Each brand has tangible and intangible features that distinguish each product from another. (Kim et al, 2003)

The brand is an inseparable part of the company's value and is a strategic asset1 that can be considered as a driver of the company's marketing planning process. This means that the brand can be considered as a competitive advantage of a company.(Wong & Merrilee, 2008)

1-2- Statement of the problem:

Levitt[3] and Cutler2 were among the first researchers who paid attention to the importance of customers and company employees in their studies. They suggested that the employees of a company are actually its customers and their needs and demands should be taken into consideration. Therefore, the attraction, development, motivation and quantitative and qualitative improvement of abilities, value creation, continuous improvement of service provision to them and raising the level of work quality as a product and their participation in carrying out processes with the help of management, guides the organization in the direction of providing a high level of quality products and services. As a result, it will increase the level of satisfaction among the organization's external customers.

In other words, in an environment where competition is constantly increasing, companies must be customer-oriented. The basis of the marketing concept is the identification of customer needs and satisfaction, which leads to customer retention. Companies always spend considerable resources to measure and manage customer satisfaction and loyalty.

In recent years, the return on intangible assets has become very important for many companies. Marketing is one of the practical fields that the company tries very hard to achieve the efficiency of its activities (Seggie et al, 2004). Brands should create sustainable competitive advantages for the company, because the company can achieve a competitive advantage if customers receive a special benefit from the brand. Therefore, it is important for brand managers to obtain valid and reliable tools to evaluate customer-oriented brand performance.

Today, advertising as an interdisciplinary product has attracted the attention of many researchers in the fields of management, communication and economics. Researchers in different sectors study the effects and pathology of advertising, considering the impact of the advertising mechanism in the society (Rasouli, 1386: 14, A).

Since commercial advertisements ultimately aim to convey information and change the behavior of the audience, they intend to create reasons for increasing the consumption of a particular product or spread certain beliefs about the goods or services related to it in the society, it is necessary to study the content of these messages. The expansion of urban life has brought about a great change in social and organizational life. The shrinking of families is one of the effects of this change, which limits the individual's family support and the individual loses his shelter and industrial support in the modern urban society. Today, insurance is an organizational solution to respond to this need of human societies in dealing with sudden and unpredictable events. In developed societies, insurance is not a luxury item, but a basic and self-evident necessity in order to maintain reliability and safety and reduce the loss and risk factor. Lack of sufficient knowledge and understanding about insurance and its coverage causes widespread problems during the occurrence of danger and accident, and sometimes it will have severe and irreparable consequences. Measures should be taken to place insurance as a commodity and a necessary thing in the basket of people's households. In this regard, advertising is one of the means of expanding the culture of using insurance and strengthening the favorable attitude of insurance customers. For the management of any insurance company, correctly introducing insurance products to people is a fundamental process. Through advertising, one can achieve efficiency and effectiveness in line with the objectives of the insurance company in introducing its products as best as possible and find out the accuracy of the predictions made about the programs.

Life insurance is considered one of the most important and strategic products of the world's insurance companies. In the world, the sales percentage of life insurance is much higher than other insurance products, and this statistic reaches more than 90% in some European and American countries. Life insurance creates a very suitable investment opportunity for insurance companies, because most of the losses of this product, especially life insurance and investment, can be predicted and scheduled, and companies get long-term financial resources and can plan and participate in their desired activities in various economic fields. Therefore, insurance companies always look at life insurance as a special economic product. But the country's insurance industry has not yet been able to sell its life insurance in a favorable and suitable situation.