The Influence of Marketing Strategies on Purchase Intention Among Customers of Large Insurance Companies in India

Abstract

The insurance industry has become increasingly competitive, requiring companies to adopt effective marketing strategies to attract and retain customers. Understanding the factors that influence consumer purchase intention is essential for insurance companies seeking to maintain competitiveness and improve customer engagement. This study examined the influence of several marketing-related variables on purchase intention among customers of large insurance companies in India.
The independent variables examined in this study included advertisement, word of mouth, consumer trust, perceived usefulness, perceived quality, promotion, and perceived sustainability. Purchase intention was considered the dependent variable. The study aimed to determine how these marketing strategy factors influence consumers’ willingness to purchase insurance products.
Data for this research were collected using a structured questionnaire distributed to customers of large insurance companies in India. The collected data were analyzed using SPSS statistical techniques, including descriptive statistics, reliability analysis, validity analysis, correlation analysis, and multiple regression analysis.
The findings of the study provide insights into the key marketing factors that significantly influence purchase intention among insurance consumers. The results may help insurance companies develop more effective marketing strategies, strengthen customer relationships, and improve their competitive advantage in the insurance industry. This research contributes to the existing literature on marketing strategies and consumer behavior by examining the relationship between marketing factors and purchase intention within the context of the insurance sector.

Keywords: Marketing strategies, purchase intention, insurance industry, consumer behavior