Factors affecting buying behaviour of consumers – a study of health insurance in gujarat

The present study aims at finding out the combined ability of the Personal, Marketing and Social factors in discriminating an insurance Buyer from a Non Buyer through development of statistical model. The discriminant analysis results have been used to describe each group in terms of its profile, using the group means of the predictor variables viz., Personal, Marketing and Social Factors called centroids indicating the average discriminant score in the two groups i.e. Buyer and Non Buyer. It is hypothesised for the study that the Personal, Marketing and Social Variables collectively do not have the discriminating ability to distinguish a health insurance Buyer from a Non Buyer. It can be concluded that changes in these three factors viz., Personal, Marketing and Social possess significant discriminating power and lead to variance in the discriminating between an insurance Buyer to a Non Buyer. Personal and Marketing Factors have positive influence, while Social factors have negative influence on health insurance buying decision in the State of Gujarat.