MARKETING MIX FACTORS INFLUENCING THE DECISION TO PURCHASE ENDOWMENT LIFE INSURANCE FROM MUANG THAI LIFE ASSURANCE PUBLIC COMPANY LIMITED

Abstract

This research aims to study the marketing mix factors influencing the purchase of endowment life insurance, the decision-making process of purchasing such insurance, and to compare decision-making based on personal demographic data. This is a quantitative research study. The sample group consists of 200 individuals who are current policyholders of endowment life insurance from Muang Thai Life Assurance Public Company Limited. The sample was selected using a calculation-based method. The research instrument was a questionnaire, and data were collected through the questionnaires. The statistical methods used for data analysis included percentage, mean, One-Way ANOVA, and Multiple Regression Analysis. The results show that the marketing mix factors influencing the purchase of endowment life insurance can be divided into two parts. The general information of respondents reveals that most are male, aged between 31 and 40 years, hold a bachelor's degree, work as hired laborers, earn a monthly income of 20,001 – 30,000 baht, prefer to pay premiums quarterly, and can afford an annual premium payment of 80,001 – 100,000 baht. Overall, the marketing mix factors were rated at a high level. The comparison of purchase decisions, classified by gender, age, education level, occupation, average monthly income, premium payment method, and maximum annual premium payment, showed statistically significant differences at the 0.05 level. Furthermore, the marketing mix factors in the areas of promotion and people had a statistically significant influence on the decision to purchase endowment life insurance from Muang Thai Life Assurance Public Company Limited at the 0.05 level