Effective of Promotional Tools to Influence the Purchase Decisions of Unsought Products: A Study on Life Insurance

Abstract

Selling unsought products is one of the toughest jobs for a company. It usually takes an aggressive marketing campaign including sales efforts by well-trained sales forces and aggressive sales professionals as well as other forms of promotional tools. The present study tries to find out to what extent the purchase decision of life insurance product in Bangladesh is influenced by advertising, sales promotion and personal selling. To achieve the research aim, data were collected from 100 respondents who are currently giving the premiums of their life insurance. The results showed that advertising ispositively correlated with the purchase decisions of unsought product and sales promotion is found to be negatively correlated with purchase decision of unsought product while personal selling is statistically significant and positively correlated with the purchase decision of life insurance product. So, managers involved in selling unsought products can emphasize on advertising and personal selling as the techniques 10 promote and sell their products.