AN IMPULSIVE BUYING BEHAVIOR OF CUSTOMER: A QUALITATIVE STUDY ON BANCASSURANCE SERVICES IN PAKISTAN

Abstract

Intention of purchasing life insurance product is rarely seen in customers after sales pitch and product advertisement. This research will identify the factors of impulsive buying behavior of customers of Bancassurance (life insurance channel) products. The rationale of this research is to explore the factors influencing customer’s behavior for impulsive buying of Bancassurance product and drive implications for other channels of life insurance productivity. This research study employs a qualitative approach, utilizing thematic analysis as a research instrument. According to nature of research, purposive sampling technique has applied to obtain rich and updated data from Bancassurance field experts. The result obtained after data analysis in the form of themes are Bank environment influence customers’ intention for product purchase, Customers satisfaction from banking services with experience and service innovation, Perceived value of brand develops customer purchase intentions. A model has been developed called Banca-Customer behavior Model (BCB Model) based on factors. Customer behavior encompasses the decision-making processes that come before and after the acts that are directly related to acquiring product and services. Innovation and meeting customer expectations are made feasible by analyzing the factors that directly affect customer impulsive buying behavior towards Bancassurance products.