Brand Trust: An Empirical Research on Customers of Public & Private Sector Insurance Companies

Authors(3) :-Amit Kumar, Dr. Rishu Roy, Gunjan Anand

Huge market potential made India most favorable destination for insurance products around the world and all of them aiming at building brands that can earn loyalty and win the trust of customers. The brand valuation of well-known FMCG companies like P&G, HLL, Pepsico etc. valued at sums larger than their turnovers. However, all brands do not succeed in becoming highly valued brands. When it comes to succeeding with branding, one of the key aspects of branding has been winning the 'trust' of consumers. This research sets out to focus on the various aspects that earn brand trust of customers for public & private insurance companies in India. Through a survey of customers and elucidates the factors an organization need to manage to enable brand trust. The research is based on field data collected from 300 customers. The findings indicate that service consumer brand trust in India is influenced by five potential factors viz. Managerial & Technical Skills, Moral Values, Marketing Skills, CRM, Trust worthiness. The strategic & managerial implications of the current research is that service organizations like 'Insurance' should focus more on shaping employees' intrinsic and extrinsic qualities (attributes) to build brand trust and loyalty among customers.

Authors and Affiliations

Amit Kumar
IBMR, IPS Academy Indore, Madhya Pradesh, India
Dr. Rishu Roy
Sanghvi Institute of Management & Science, Indore, Madhya Pradesh, India
Gunjan Anand
IBMR, IPS Academy Indore, Madhya Pradesh, India

Brand image, Service products, Brand trust, Employee branding

  1. Balmer, J. M.T, & Gray, E. R. (2003). "Corporate brands: what are they? What of them?", European Journal of Marketing, Vol. 37 Issue: 7/8, pp.972-997
  2. Belasen, A. (2007). Competing Values Leadership: quadrant roles and personality traits, Leadership and Organization Development, vol. 29, Issue 2, pp.127-143
  3. Bitner, Mary Jo (1990).Evaluating Service Encounters: The Effects of Physical Surroundings and Employee Responses, Journal of Marketing, Vol. 54 (April), pp.69-82
  4. Heskett, James L., Thomas O. Jones, Gary W. Loveman, W. Earl Sasser, Jr., Leonard A. Schlesinger (1994), “Putting the Service-Profit Chain to Work” Harvard Business Review March-April 72(2), pp. 164-174.
  5. Kotler, P., Keller, K.L., Brady, M., Goodman, M. & Hansen, T. (2009). Marketing Management, ISBN 978-0-273-71856-7., pp. 861-870. Prentice Hall
  6. Mitchell, C. (2002). ‘Selling the Brand Inside’, Harvard Business Review, January’ 2002
  7. Urde, M. (2003). Core based corporate brand building. European Journal of Marketing, 37(7/8), pp. 1017-1040.

Publication Details

Published in : Volume 1 | Issue 4 | July-August 2015
Date of Publication : 2015-08-25
License:  This work is licensed under a Creative Commons Attribution 4.0 International License.
Page(s) : 143-148
Manuscript Number : IJSRSET151419
Publisher : Technoscience Academy

Print ISSN : 2395-1990, Online ISSN : 2394-4099

Cite This Article :

Amit Kumar, Dr. Rishu Roy, Gunjan Anand, " Brand Trust: An Empirical Research on Customers of Public & Private Sector Insurance Companies, International Journal of Scientific Research in Science, Engineering and Technology(IJSRSET), Print ISSN : 2395-1990, Online ISSN : 2394-4099, Volume 1, Issue 4, pp.143-148, July-August-2015.
Journal URL : http://ijsrset.com/IJSRSET151419

Article Preview

Follow Us

Contact Us