THE EFFECTS OF RELATIONSHIP ORIENTED MARKETING AND THE FEATURES OF THE PRODUCT ON REALIZATION AND CUSTOMER ACCEPTANCE OF INVESTMENT AND LIFE INSURANCE

Abstract

In the current market we shouldn’t ignore the effects of strategic Relationship Oriented (RO)
marketing on product acceptance by the customer. In fact, the businesses must –within the
framework of RO marketing –create adequate relationships with the customer after
innovating in form of new products in order to persuade them to commit to the new product.
In this research we aim to evaluate the effects of RO marketing and the features of the
product on Realization and Customer acceptance of Investment and Life Insurance. We
wonder if the two have any interdependence. The statistical sample in our research consists of
the buyers of investment and life insurance from the Melat-e-Iran Corporation in the north
west of Iran which is 248 people which are chosen stochastically were scaled based on the
Cochran formula. In order to answer the question at hand here, three primaries and two
secondary hypotheses are introduced and also, using a conceptual model, the relationship
between the independent variables, the mediators and the dependent variables is tested. For
evaluating the hypothesis, we applied the modeling test of structural equations with a path
analysis perspective. Based on the results, between the dimensions of RO marketing,
commitment and trust are affecting the customers’ motivation in accepting the product
through affecting her realized values. Also, between the dimensions of innovation,
complexity by affecting the realized risk of the customer, affects her acceptance motivations
and the dimensions of relative advantage and compatibility do so through affecting the
realized values. Furthermore, among different dimensions of relationship orientation,
satisfaction and among the dimensions of innovation, testability and being observable have
direct influence on the customer’s intention of acceptance for investment and life insurance.
The realized values and risks are also effective on the customers’ intention of acceptance and
their effect is far greater.