ANALYSIS OF MARKETING MIX FACTORS AND CONSUMER DECISION-MAKING IN PURCHASING NEW STANDARD HEALTH INSURANCE: A CASE STUDY OF THAI LIFE INSURANCE PUBLIC COMPANY LIMITED

Abstract

     This study aims to (1) to examine the influence of personal factors—namely gender, age, marital status, educational level, occupation, income, and pre-existing medical conditions—on the decision-making process for purchasing the new standard health insurance policy offered by Thai Life Insurance Public Company Limited and (2) examine the relationship between marketing mix factors and the decision-making process for purchasing the New Standard Health Insurance. The sample consisted of 419 policyholders of Thai Life Insurance Public Company Limited. Data were collected using a questionnaire and analyzed using statistical methods, including mean, standard deviation, hypothesis testing, and Pearson’s correlation coefficient to examine the relationships between variables. It was found that male and female consumers differed in their purchasing decision-making processes in terms of need recognition, information search, and purchase decision. Consumers with different marital statuses showed differences in all aspects of the purchasing decision-making process. Consumers with different education levels did not differ in any aspect of the purchasing decision-making process. Consumers with different income levels showed differences in all aspects of the purchasing decision-making process except for need recognition. Consumers with different occupations showed differences in all aspects of the purchasing decision-making process. Finally, consumers with different underlying diseases differed in the information search and purchase decision stages of the purchasing decision-making process. Additionally, the analysis of the relationship between marketing mix factors and the decision-making process showed that product, promotional activities, and personnel had a high level of correlation with the decision-making process, while price, distribution channels, physical evidence, and service process showed a moderate level of correlation.