Perceptual differences of Indian customers’ towards general insurance services
- Author Dr. Saraju Prasad
- DOI
- Country : India
- Subject : Management Studies
Keywords : brand, factor, eigen, general, insurance, values
Abstract
Although brands can signal reputation and serve as proxies for trust, consumer preferences for attributes may differ for different brands of services. This paper test this hypothesis using data from a particular experiment conducted with consumers has done general insurances available in India. The research work conducted to know the types of general insurance accepted by Indian customers and shifting their preference from one brand to next brand for better options. The results indicate that consumers appear uncertain when there is an absence of a brand; non-brand- oriented consumers ascribe greater importance to the attributes of an insurance product, with emphasis on those that relate to the facilities (Association, value, behavior etc.). Factor analyses permit identification of elements for the positioning strategies of different companies’ insurance products. Also to know the factors considered by the customer to prefer any brands of insurance products. Finally the null hypothesis accepted as the consumer preferences has direct relationship with the premium charged by different insurance companies.
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