The Influence of Brand Equity on Insurance Industry Customer Responses (A Case Study of Fire Insurance the Iran Insurance Company in Tehran)

 

Volume 4, Issue 3, Number 6, Pages 79-100, Published Online July 20, 2016

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Author(s):

Ebrahim Noormahmoudi and Gholamreza Zomorrodian

ABSTRACT:

The main objective of this study is to experimentally test a conceptual model of brand equity. This study attempts to verify the determinants of brand equity of services based on customers’ perception of Iran Insurance Company services. Hence, this research attempts to investigate the influence of brand equity on customers’ responses. Data was collected by a questionnaire and was analyzed by structural equation modeling using SPSS 18 and LIZREL 8.5. Population was customers of Iran Insurance Company who purchase its fire insurance during the period of research. A sample of 384 tourists was selected by convenience sampling approach. Structural equation modeling indicated that brand awareness has a positive and significant influence on perceived quality and brand associations. Perceived quality and brand associations had also significant influence on brand loyalty and brand equity. Brand equity has also significant influence on brand preference, brand extension, price premium, and purchase intention.

KEYWORDS:

Brand equity, Consumer responses, Brand preference, Brand Association

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