Influence of Brand Characteristics in Intangible Service Industries

Today, performance of a company is closely tied to the recognition of its brand, to the extent that all the actions and decisions a company make is evaluated through the impressions of its brand. The success or failure of a company is not separate from the success or failure of its brand. It is believed that the credibility of a brand is of greater importance than that of the tangible assets of a company. In fact, more than being an effective managerial tool, brand’s name is a strategic necessity which helps providing permanent distinctive competencies and more credit in the mind of the customers. One way toward establishing such a competency is by creating a situation in which a brand with agreeable characteristics can be born. Reaching this destination in a competitive industry like that of insurance can be very tricky. Considering this importance, present study investigates the influence of inherent brand characteristics in intangible service industries with an application to life insurance services.