Document Type : Original Research Paper
Authors
1 PhD Student, Department of Financial Management, Faculty of Financial Engineering, Roudehen Branch, Islamic Azad University, Roudehen, Iran.
2 PhD Student, Department of Business Managment, Faculty of Management and Accounting, Allameh Tabataba'i University, Tehran, Iran.
3 Head of Research and Innovation Department of Kowsar Insurance Company, Department of Economics, Faculty of Economics and Accounting, Central Tehran Azad University, Tehran, Iran.
Abstract
BACKGROUND AND OBJECTIVES: In today’s highly competitive environment, branding has become one of the most critical strategic factors for the success of companies across diverse industries. Although branding is often primarily associated with tangible products, its significance in the service industry is equally vital. Especially in sectors driven by service delivery, such as insurance, effective branding goes far beyond surface-level marketing—the process involves multiple, often hidden, internal and external factors that can shape and enhance brand equity. The present study aims to identify the factors influencing branding and brand equity in the insurance industry, particularly from the perspective of employees as key organizational stakeholders. Employees’ viewpoints are of special importance in the context of branding, since they are not only the executors of organizational policies but also serve as the real ambassadors of brands in their interactions with clients. By delivering positive workplace experiences, demonstrating professional behaviors, and committing to corporate values, employees can have a significant and lasting effect on customer perception and the overall mental image of brands. They are the true link between the internal organizational culture and the external market environment.
METHODS: This research adopts a mixed methodology, utilizing both qualitative and quantitative approaches in a complementary manner. By combining these methods, the study aims to harness the strengths of each to achieve a more comprehensive understanding of the issues at hand. In the qualitative phase, the researchers conducted a thorough review of the literature, examining established theories and previous research to build the conceptual and theoretical framework for the study. In the quantitative phase, the statistical population consisted of experts and professionals in the insurance industry. These participants were chosen through a judgmental purposive sampling method, meaning that individuals with necessary expertise, knowledge, and relevant experience were deliberately selected to enhance the reliability of the findings. The primary data collection tool in the quantitative section was the Fuzzy Delphi method. The Fuzzy Delphi method enables researchers to gather and refine professional opinions through a series of iterative rounds and is particularly effective for developing a consensus in complex contexts. In this approach, participants answer questions anonymously over multiple rounds, with opportunities to modify their previous responses after seeing the summarized findings from earlier rounds—resulting in more accurate and validated outcomes.
FINDINGS: Through the application of the Fuzzy Delphi technique, the study identified 34 variables perceived by employees as influential on branding and brand equity. Out of these, 26 variables were confirmed in the first round, while 8 were rejected after further evaluation. Notably, responses to open-ended questions in the initial Delphi round led to the identification of 5 new variables, highlighting the dynamic nature of employee input and expertise. Ultimately, these variables were grouped into 9 main categories: employees’ experience of the employer brand, employees’ perceptions of the brand as seen by customers, employer brand and its competitors, employees’ brand knowledge, employees’ commitment to the brand, organizational citizenship behavior, word-of-mouth advertising, employee satisfaction, and employees’ intention to stay with the organization. This categorization demonstrates that shaping a strong brand image is a holistic process, not only reliant on leadership or marketing teams but also fundamentally shaped by everyday staff at all organizational levels. Factors such as personal satisfaction, supportive behaviors, effective interaction with both clients and competitors, and the transmission of a positive organizational message to the outside world are shown to be indispensable.
CONCLUSION: The analysis and ranking of variables confirmed through various rounds of the Fuzzy Delphi method indicate that, from employees’ perspectives, the most influential factors contributing to branding and brand equity in the insurance industry are: a supportive and appropriate work environment, genuine passion and enthusiasm for the brand, and opportunities for professional and personal growth—ranked as the top three enablers of brand success Additional factors, including employees’ willingness to exert extra effort, their conversations with competitors about the organization, and their refusal to accept new job offers, while still important, were placed lower in the ranking (positions 18 to 20). Overall, the findings underscore that special attention to employees’ needs, aspirations, and attitudes, the strengthening of organizational values, and the creation of a dynamic and motivating environment for staff development and satisfaction are paramount to building a successful brand, particularly in service-oriented industries like insurance. These insights offer practical guidance to senior managers, policymakers, and HR specialists for designing and implementing effective and forward-thinking strategies in organizational branding.
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