CONSUMER BEHAVIOUR - BRAND VS. PRICE IN UK PET INSURANCE MARKET

Consumer Behaviour - Brand vs. Price in UK Pet Insurance Market

Submitted in partial fulfilment of the requirements for the degree of BA (Hons) Business Studies

by

[Name of University]

[Department Name]

[Month and Year of Submission]

ACKNOWLEDGEMENT

I would first like to express my gratitude for my research supervisor, colleagues, peers and family whose immense and constant support has been a source of continuous guidance and inspiration.

DECLARATION

I [type your full first names & surname here], declare that the following dissertation/thesis and its entire content has been an individual, unaided effort and has not been submitted or published before. Furthermore, it reflects my opinion and take on the topic and is does not represent the opinion of the University.

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Dated:

ABSTRACT

Pet insurance has become a topic of increasing importance for the British insurance industry over the past decade. Several studies have suggested an increasing consumer awareness of health, brand and relationship and high interest in buying pet insurance. Consumers are the most important segment of the pet insurance system and they ultimately determine the success or failure of campaigns. Pet insurers must develop marketing strategies that serve consumer needs and wants. This study explores the impact of brand loyalty relating to pet insurance and insurance products through a primary quantitative research. If pet owners see their pets as status symbols or as extensions of themselves. The first chapter provides a brief introduction to the topic, followed by literature review in the second chapter. The second chapter focuses on customer behaviour in connection with purchasing decisions of purchasing insurance polices for their pets. The methodology is covered in the third chapter. The researcher has used primary data collection method to collect data. The mixed method research design was used as it was deemed appropriate for this particular research. The fourth chapter provides the findings and analysis of collected responses from questionnaire analysis and hypotheses tests. The researcher has used chi-squared tests to test hypotheses. The fifth chapter concludes the dissertation, providing implications and recommendations for future research.

TABLE OF CONTENTS

DECLARATIONII

ABSTRACTIII

CHAPTER 1: INTRODUCION1

Background of the Study1

Purpose of the Study2

Aim of the Study2

Research Questions2

Hypothesis3

Overview of Methodology3

CHAPTER 2: LITERATURE REVIEW4

Consumer Behaviour4

Customer Retention4

Customer Loyalty6

Antecedents of Brand Loyalty9

Utilitarian and Hedonic Benefits10

Brand Trust12

Brand Affect14

The Quest for Ultimate Pet Brand15

Pets and Advertising16

Psychological Benefits of Pet Ownership18

REFERENCES23



CHAPTER 1: INTRODUCION

Background of the Study

Pet insurance has become a topic of increasing importance for the British insurance industry over the past decade. Several studies have suggested an increasing consumer awareness of health, brand and relationship and high interest in buying pet insurance. Consumers are the most important segment of the pet insurance system and they ultimately determine the success or failure of campaigns (Asp, 1999). Pet insurers must develop marketing strategies that serve consumer needs and wants.

Many pet insurers try to add value to their campaigns by differentiating generic incentives or developing alternative campaigns or services. Given limited resources and budgets, pet insurance firms require assistance in setting optimal marketing plans based on their understanding ...