Abstract
Complex, highly intangible services such as life insurance consist largely of credence properties. Insurance providers engage in relationship-building activities that emphasize buyer-seller interaction and communication. Economists contend consumers are prone to make quality generalizations based on the strength of these relationships, perhaps to the detriment of price competition. The authors report contrary results suggesting that, though relationship marketing adds value to the service package, it is not a substitute for having a strong, up-to-date core service.
Keywords
CredenceMarketingBusinessLife insuranceCompetition (biology)Value (mathematics)Service (business)Core (optical fiber)Services marketingRelationship marketingQuality (philosophy)Service providerActuarial scienceMarketing management
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Publication Info
- Year
- 1987
- Type
- article
- Volume
- 24
- Issue
- 4
- Pages
- 404-411
- Citations
- 973
- Access
- Closed
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Cite This
Lawrence A. Crosby,
Nancy Stephens
(1987).
Effects of Relationship Marketing on Satisfaction, Retention, and Prices in the Life Insurance Industry.
Journal of Marketing Research
, 24
(4)
, 404-411.
https://doi.org/10.1177/002224378702400408
Identifiers
- DOI
- 10.1177/002224378702400408