INFLUENCE OF RELATIONSHIP MARKETING ON CONSUMER BEHAVIOR: SPECIAL STUDY OF THE LIFE INSURANCE INDUSTRY

In the wake of liberalisation and globalisation of the Indian economy the financial services sector has come to assume a significant importance, and life insurance, which is a very important constituent of the financial service sector, assumes a special performance. All financial business deals with the management of risk but life insurance companies with their basic risk management, their asset size and relative stability of cash flow are likely to pay a key role in the future development of the financial services industry. One of the other very important in today s business environment is that of relationship marketing. In today’s challenging business environment it’s very important for the companies to change their business patterns and revamp their organisational structures to meet the demands and expectations of customer. Relationship marketing is of a great important for insurance sector as, it is a fact that insurance is sold purely on relationship basis. This research study tries to find out the extent to which relationship marketing affects the life insurance industry in India. This study is of a great relevance in today’s world as relationship marketing is a concept that perfectly suit the life insurance sector and is of a great importance for the sector.