The purpose of this study is to provide a marketing strategy that function as a step-by-step decision-making process on the purchase of insurance consumers’ search for sub-components. The analysis tools used in the model presented by the researcher are based on the EBM model of Engel et al.(1986). At the step-by-step decision-making process for purchase as to coverage insurance and saving insurance, this research identifies favorite channels and their reasons by using statistical chi-square tests and multiple correspondence analyses. There is no difference in preference channels between saving insurance and coverage insurance but preference channels are differently chosen in each step-by-step decision-making process. At the information collecting and the alternative assessment stage, internet channel is most preferred, while at the actual buying stage, insurance planner channel is most preferred. Accessibility and convenience are most important reasons of channel preference at both saving and coverage insurance. Also, it is confirmed that some of the step-by-step decision-making processes for purchasing are omitted by the insurance planner’s influence. At the stage of post-purchase evaluation, there is no difference in channels to express satisfaction and dissatisfaction between saving and coverage insurance, but there exists difference in channels to express dissatisfaction than satisfaction. The channels such as family acquaintance or insurance planner are used to express insurance customers’ satisfaction, while the channels such as customer service center or supervisory agency are used to express their dissatisfaction. As the result of multiple correspondence analysis, coverage insurance is close to dissatisfaction while saving insurance is very close to satisfaction.
Insurance marketing strategies can be summarized as follows based on the consumers’decision-making process for purchase.
At the stage of problem recognition, marketing competition strategy is to actively utilize advertising, public relations, and verbal language that is external motive. The necessity recognition of the coverage insurance is most effective in case of insurance such as death, disability, injuries, disease, and care. Saving insurance is a more effective in advertisement showing life of pension recipients and providing information relating to asset growth using insurance products. As a channel strategy, the multi-channel strategy is very effective because it usefully requires various stimuli to problem recognition at the widest possible point in contact with customers.
At the stage of information discovery, the most powerful way to satisfy consumers’appetite for accessibility and convenience is through direct marketing at coverage insurance and saving insurance. In addition, Insurance company needs to develop interactive technologies that communicate with customers in terms of interactive media terminals, interactive TV sets, smart phones, and mobile devices. On the channel strategy, coverage insurance and saving insurance should communicate the core contents and strengths of products that offer accessibility and convenience through internet channels. In addition, Insurance company needs a complex channel strategy to emerge as a product of alternative evaluation through insurance planner, that is, a substance that is easily understandable and highly accessible.
At the stage of evaluating alternatives, coverage insurance and saving insurance need to be kept informed to customers their effects and profit of product to position them customers’mind. In addition, insurance companies need a policy strategy that offers a wide variety of benefits and provides a sense of belonging and psychological stability of loyal customers through social media. Both the coverage insurance and saving insurance should be comparison targets and It should be the best alternative to emerge as a core alternative. The independent distributor channel must be actively utilized and products can be easily explained in face to face channel.
At the stages of purchase, customers do not purchased unless if there is trust for future utilities because insurance product is not purchased at the same time as buying it. Customer''s positive experience will play an important role in the insurance company. Furthermore, the quality of consultants should be enhanced by fostering specialized professional consulting ability with highly specialized expertise.
At the stage of post-purchase evaluation, research and effort on how to build and maintain customer loyalty are required for positive repurchase, so consumers are strongly encouraged to express satisfaction and dissatisfaction. The internal client, the insurance planner, is the best customer of the insurance company and they are the most powerful people in the sales field who can spread their experiences to the outside world. It is necessary to develop a program that allows them to maintain a company''s friendly attitude to the company in order to spread their positive experiences through oral activity. Along with thess, a strategic approach is needed to provide a variety of opportunities to provide positive experience to external customers and enable them to share the experience with others. The channel strategy will be the most important way to enable them to become effective communicators through the experience of the insurance planners and their continuing education.