Comparative Study Between Effectiveness Of Traditional And Modern Marketing Channels With Special Reference To Insurance Industry

This study investigates the effectiveness of different marketing channels on customers in the insurance industry.The research objectives include assessing the effectiveness of traditional and modern marketing channels, analyzing factors influencing customer preferences, and identifying strengths and weaknesses of these. The research design employed is a descriptive research design, aiming to systematically describe and analyze customer perceptions and preferences. A judgment sampling technique is utilized to select participants based on their expertise and knowledge. The population consists of potential or existing customers in the insurance industry, and the sample size is defined as 100. Findings reveal a preference for modern marketing channels, particularly social media, websites, and search engines. Insurance agents and brokers, along with television advertisements, are influential traditional channels. Concerns regarding the reliability of modern channels and the trustworthiness of traditional channels are highlighted. Lack of technical knowledge emerges as a barrier to adopting modern marketing techniques. The study establishes a significant relationship between marketing channel preference and technical knowledge levels. These findings provide valuable insights for insurance companies to strategically utilize different marketing channels and address customer preferences and concerns effectively.

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