How Emotional Branding Can Influence Consumer Decisions : A Case Study of 2025 – Sri Lanka Insurance Corporation in Sri Lanka
Ekanayake, Maduka (2025)
2025
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2025120332279
https://urn.fi/URN:NBN:fi:amk-2025120332279
Tiivistelmä
This thesis researched how emotional branding can employ as a strategic tool to influence Sri Lankan consumers in the local insurance market through the means of emotional branding, neuromarketing concepts and behavioural marketing. The industry is facing many challenges driven by high competition, negative economical situations and evolving needs and expectations of the modern consumers who are digitally native, value and empathically driven. There is a gap between the traditional and transaction focused market models of the Sri Lanka’s insurance landscape, with a demand for authentic and meaningful brand relationships with the targeted demographic segments.
The thesis has been commissioned by the Sri Lanka Insurance Corporation (SLIC) and is aimed to move beyond traditional marketing methods to investigate the emotional branding, neuromarketing and behavioural marketing principles to foster brand trust and loyalty. This study demonstrates that the intangible services like insurance products are required to be nurtured by trust and emotional connections with the consumers to foster long term retention and brand loyalty.
The research employs a mixed method approach by integrating a quantitative survey with a qualitative insight further strengthened by a social media sentiment analysis. This thesis explores the drivers of brand perception and how it resonates with the modern consumer behaviour through emotional and cognitive triggers. The outcome of the thesis is strategic and evidence based, thus providing SLIC with solid recommendations to acquire and retain modern consumer segments. These recommendations are shaped by the theoretical frameworks as discussed above and provide the road map through new brand narratives, nudging strategies and emotional customer service practices. This allows SLIC to achieve competitive advantage and ensuring market leadership with a sustainable future.
The thesis has been commissioned by the Sri Lanka Insurance Corporation (SLIC) and is aimed to move beyond traditional marketing methods to investigate the emotional branding, neuromarketing and behavioural marketing principles to foster brand trust and loyalty. This study demonstrates that the intangible services like insurance products are required to be nurtured by trust and emotional connections with the consumers to foster long term retention and brand loyalty.
The research employs a mixed method approach by integrating a quantitative survey with a qualitative insight further strengthened by a social media sentiment analysis. This thesis explores the drivers of brand perception and how it resonates with the modern consumer behaviour through emotional and cognitive triggers. The outcome of the thesis is strategic and evidence based, thus providing SLIC with solid recommendations to acquire and retain modern consumer segments. These recommendations are shaped by the theoretical frameworks as discussed above and provide the road map through new brand narratives, nudging strategies and emotional customer service practices. This allows SLIC to achieve competitive advantage and ensuring market leadership with a sustainable future.