Identifying and prioritizing the factors affecting customer loyalty to a brand (Case study: insurance industry)

Abstract

In 1994, Society for Marketing Science put brand concepts in general and brand loyalty in particular as one among ten prioritized research topics in the most important research topics list for practitioners and students. Present paper seeks to design and explain consumer loyalty evaluation model based on Iranian brands and also identify and prioritize factors influencing customers' loyalty in insurance industry. Main research instrument for evaluation of the model and research hypotheses was a comprehensive questionnaire with 42 questions and measures developed by other major scholars in this field were used. Statistical population of research consisted of all clients of insurance services visited one of the offices belonged to Iran, Asia, Karafarin and Parsian insurance firms in Kerman city. Questionnaires were randomly distributed to 600 ones and completed as a structured interview. To confirm validity of research questionnaire, factor analysis method and in order to assess reliability of questionnaire, Cronbach Alpha was estimated. Results showed validity and reliability of the research instrument. Results showed that the factors cognitive belief, affective belief, brand creditability and brand commitment all influence loyalty of customers to the brand. Also according to research model, it was tried to provide an applied pattern for evaluation of consumers' loyalty to the brand. Finally based on research results, suggestions and strategies were provided to increase loyalty of insured people to insurance services and insurance firms. Finally some recommendations for future research were provided.