Ahmad Bilal Ali, Dr. Khawaja Hisham Ul Hassan, Arman, Khalil-ur-Rehman (Ph.D Scholar Business Administration, Superior University Lahore)
Abstract
| The phenomenon of unplanned buying behaviour among customers is a critical area of study, particularly within the context of financial institutions offering insurance services in Pakistan. This qualitative research delves into the underlying factors that drive customers to make unplanned purchases of insurance products. Utilizing an interpretive approach, this study gathers insights through in-depth interviews and focus group discussions with customers and industry experts. The findings reveal that emotional triggers, social influences, and situational factors significantly contribute to unplanned buying decisions. Key themes include the impact of persuasive marketing strategies, the role of trust in financial institutions, and the perceived urgency or necessity of insurance products. Additionally, the study highlights the influence of cultural norms and economic conditions in shaping customer behaviour. This research provides a nuanced understanding of the motivations behind unplanned buying, offering valuable implications for financial institutions aiming to optimize their marketing and customer engagement strategies. By addressing the psychological and contextual elements identified, insurers can better align their offerings with customer needs and enhance overall satisfaction and retention. |