Investigation of the relationship between customer-based brand equity and performance of insurance companies in sales of life and saving insurance

Brand equity is one of the concepts distinguishing among brands. What attracts the consumer to the brand and causes to choose that brand is its value and it is recognized as brand equity. Brand equity is utility and added value which is added by brand to a product in comparison with another one. Factors such as perceived quality of brand, cost-driven perceived quality of brand, uniqueness of brand, willingness to pay more, awareness of brand name, familiarity with brand, popularity of brand, organizational connections and sustainability of brand picture are among constituting dimensions of brand equity. In this research, the relationship between brand equity and performance of insurance companies in sales of life and saving insurance has been investigated. Present paper is applied from purpose point of view and is descriptive-analytical from method point of view. Statistical population includes eight insurance companies (Asia, Alborz, Iran, Parsian, Toseeh, Dana, Mellat and Novin insurance) and their sale has been investigated through random sampling. Analysis of research findings through correlation test and SPSS software version 17 showed a positive and significant relationship between brand equity and sales of life and saving insurance in insurance companies. This also means that insurance companies which have higher brand equity in mind of customers will have a higher amount of sale

Keywords:

Brand , customer-based brand equity , life and saving insurance , performance of sales in insurance companies